Top 3 Picks
2026 Outlook
By 2026, the mining sector is expected to benefit from sustained demand for metals driven by the energy transition, urbanization, and infrastructure investments, potentially leading to higher commodity prices and sector expansion. However, challenges such as stricter environmental regulations, geopolitical risks, and potential oversupply in some metals could temper growth. Overall, the outlook remains positive as underinvestment in new mining projects may result in supply shortages, supporting long-term profitability for well-positioned companies.
Complete Rankings
| Rank | Stock | Score | Price | Market Cap |
|---|---|---|---|---|
|
1
|
Freeport-McMoran Inc.
|
65.5 | $51.93 | $56.1B |
|
2
|
Ivanhoe Electric Inc.
|
61.5 | $16.35 | $1.6B |
|
3
|
Cleveland-Cliffs Inc.
|
59.3 | $13.60 | $6.2B |
|
4
|
Paramount Gold Nevada Corp.
|
58.0 | $1.19 | $95M |
|
5
|
MP Materials Corp.
|
54.0 | $54.97 | $12.0B |
|
6
|
U.S. Gold Corp. Common Stock
|
53.3 | $18.48 | $244M |
|
7
|
TMC the metals company Inc. Common Stock
|
53.0 | $6.78 | $2.8B |
|
8
|
Dakota Gold Corp. Warrants, each warrant exercisable for one Common Share at an exercise price of $2.08
|
52.6 | $3.35 | -- |
|
9
|
NexMetals Mining Corp. Common Shares
|
52.4 | $4.02 | $123M |
|
10
|
Southern Copper Corporation
|
51.9 | $148.69 | $99.6B |
|
11
|
TMC the metals company Inc. Warrants
|
50.4 | $1.46 | -- |
|
12
|
Blackboxstocks Inc. Common Stock
|
50.1 | $9.67 | $23M |
|
13
|
Dakota Gold Corp.
|
50.0 | $5.48 | $525M |
|
14
|
NioCorp Developments Ltd. Common Stock
|
49.4 | $5.95 | $635M |
|
15
|
Lithium Americas Corp.
|
48.0 | $4.77 | $1.7B |
In-Depth Analysis: Top Mining Stocks
FCX
Freeport-McMoRan owns stakes in 10 copper mines, led by its 49% ownership of the Grasberg copper and gold operations in Indonesia, 55% of the Cerro Verde mine in Peru, and 72% of Morenci in Arizona. It sold around 1.2 million metric tons of copper (its share) in 2024, making it the one of the world's largest copper miners by volume. …
Freeport-McMoRan is a pivotal player in the mining sector due to its substantial stakes in high-profile copper mines, including a 49% ownership of the Grasberg operations in Indonesia, which is one of the world's largest copper and gold producers. Its 2024 production of approximately 1.2 million metric tons of copper positions it as one of the top global suppliers, critical for meeting rising demand in industrial and renewable energy applications.
With an 8.0% profit margin and 14.5% ROE, Freeport-McMoRan demonstrates solid profitability and efficient equity utilization, indicating effective management in a capital-intensive sector. However, its 2.7% revenue growth and a high P/E ratio of 36.0 suggest that while current financial health is stable, future earnings expectations are elevated amid market volatility.
In 2026, investors should consider FCX due to the projected increase in copper demand from electric vehicles and renewable energy infrastructure, where the company's 1.2 million metric tons of production in 2024 provides a strong foundation for growth. Its 14.5% ROE highlights efficient operations that could capitalize on rising commodity prices, and the Tradestie Score of 65.5 indicates moderate upside potential. Additionally, the company's diverse mine portfolio, including key assets like Grasberg, positions it for enhanced profitability as global mining investments rebound.
IE
Ivanhoe Electric Inc is a United States-based d minerals exploration company with a focus on developing mines from mineral deposits principally located in the United States. The company has four business segments; Santa Cruz Project; critical metals; data processing services; and energy storage. It derives a majority of its revenue from Canada. The Santa Cruz Project and critical metals segments …
Ivanhoe Electric Inc. matters in the Mining sector due to its focus on developing critical metal deposits in the United States, which are essential for advancing technologies in energy storage and renewable energy transitions. This strategic emphasis on domestic projects like the Santa Cruz initiative positions the company as a vital contributor to securing supply chains amid growing global demand for minerals critical to electrification and decarbonization.
Ivanhoe Electric's negative Return on Equity (ROE) of -23.9% indicates poor profitability, as the company is not generating returns on shareholder equity and may be facing operational inefficiencies. The -18.8% revenue growth further highlights financial strain, suggesting challenges in scaling operations across its segments, which could impact long-term sustainability without strategic improvements.
By 2026, Ivanhoe Electric could benefit from surging demand for critical metals in electric vehicles and energy storage, potentially driving revenue growth from projects like Santa Cruz as they advance toward production. The company's Tradestie Score of 61.5 signals moderate investment potential, reflecting underlying strengths in data processing services and exploration capabilities that may yield high returns. Additionally, as global mineral shortages intensify, Ivanhoe's U.S.-focused strategy positions it for significant upside if exploration successes translate into operational mines by mid-decade.
CLF
Cleveland-Cliffs Inc is a flat-rolled steel producer and manufacturer of iron ore pellets in North America. It is organized into four operating segments based on differentiated products, Steelmaking, Tubular, Tooling and Stamping and European Operations, but operates through one reportable segment -Steelmaking. It is vertically integrated from mined raw materials, direct reduced iron, and ferrous scrap to primary steelmaking and …
Cleveland-Cliffs Inc. is a major North American producer of iron ore pellets and flat-rolled steel, essential for the construction, automotive, and infrastructure sectors, making it a key player in the mining industry's supply chain for raw materials. Its integrated operations across steelmaking and mining segments position it to influence commodity pricing and regional production dynamics.
Cleveland-Cliffs' negative profit margin of -9.0% and ROE of -25.3% highlight ongoing challenges in achieving profitability and efficient equity utilization, likely due to volatile steel prices and high operational costs. However, the 3.6% revenue growth indicates modest top-line expansion, which could signal improving demand and potential for financial recovery if cost efficiencies are realized.
By 2026, Cleveland-Cliffs could capitalize on surging demand for steel in U.S. infrastructure projects and the electric vehicle supply chain, driven by government initiatives and economic growth, potentially reversing its negative profitability. The company's 3.6% revenue growth demonstrates resilience amid sector challenges, positioning it for margin improvements through operational optimizations and market share gains. As a dominant iron ore producer in North America, strategic expansions could enhance its competitive edge and deliver strong returns for investors.
PZG
Paramount Gold Nevada Corp is an exploration-stage mining company. Together with its subsidiaries, the company is engaged in the business of acquiring, exploring, and developing precious metal projects in the United States. Also, it explores for gold and silver. The company enhances the value of projects by implementing exploration and engineering programs that are likely to expand and upgrade known …
Paramount Gold Nevada Corp. matters in the mining sector as it focuses on exploring and developing gold and silver projects in the United States, potentially expanding domestic precious metal resources amid rising global demand for these metals as hedges against inflation. Its exploration-stage status positions it to contribute to the sector's growth by identifying new deposits that could attract investment and partnerships.
The company's negative ROE of -25.2% indicates poor returns on shareholders' equity, reflecting ongoing losses that strain financial health, while a revenue growth decline of -54.7% suggests significant operational challenges in monetizing its exploration activities.
By 2026, Paramount Gold Nevada could see substantial upside if gold and silver prices continue to rise due to economic uncertainties, potentially valuing their U.S.-based projects at higher levels and driving stock appreciation. Successful exploration outcomes, leveraging their focus on key precious metal regions, might lead to production deals or acquisitions, transforming the company into a revenue generator. Additionally, with a Tradestie Score of 58.0, the stock offers moderate investment appeal for those betting on a mining sector rebound fueled by commodity demand.
MP
MP Materials Corp is the producer of rare earth materials in the Western Hemisphere. The company owns and operates the Mountain Pass Rare Earth Mine and Processing Facility, the only rare earth mining and processing site of scale in North America. The company is also developing a rare earth metal, alloy, and magnet manufacturing facility in Fort Worth, Texas. The …
MP Materials Corp. is a pivotal player in the Mining sector as the leading producer of rare earth materials in the Western Hemisphere, operating the only large-scale mine and processing facility in North America, which addresses critical supply chain vulnerabilities for technologies like electric vehicles and defense systems. This unique position enhances U.S. strategic independence in rare earth elements, essential for advancing green energy and high-tech industries.
MP Materials exhibits weak profitability with a profit margin of -50.5%, reflecting significant operational losses, and a return on equity of -6.8%, indicating inefficient use of shareholders' equity. Despite a revenue growth decline of -14.9%, suggesting short-term market or operational challenges, the company's strategic assets in rare earth production could position it for future financial recovery.
By 2026, surging demand for rare earth materials driven by the global shift to electric vehicles and renewable energy is projected to outpace supply, potentially boosting MP Materials' revenue as the sole North American producer. Government policies favoring domestic critical minerals, combined with the company's ongoing development of rare earth metals, could improve operational efficiency and profitability, making the stock an attractive buy at a Tradestie Score of 54.0. Additionally, geopolitical tensions may accelerate supply chain diversification, enhancing MP Materials' market position and long-term growth prospects.
USAU
U.S. Gold Corp is an exploration and development company that owns certain mining leases and other mineral rights comprising the CK Gold Project in Wyoming, the Keystone Project in Nevada, and the Challis Gold Project in Idaho.
U.S. Gold Corp matters in the Mining sector as it focuses on key U.S. gold projects like the CK Gold Project in Wyoming, which could bolster domestic gold production amid rising global demand for precious metals. Its portfolio, including the Keystone Project in Nevada and Challis Gold Project in Idaho, positions the company as a potential contributor to strategic mineral resource development in the United States.
The company's ROE of -115.5% reflects severe unprofitability, indicating that it is eroding shareholder equity due to high costs associated with exploration and development activities. With a Tradestie Score of 53.3/100, the financial health appears moderate at best, suggesting ongoing challenges in achieving sustainable returns without significant project breakthroughs.
By 2026, successful advancement of the Keystone Project in Nevada could lead to expanded gold resources and potential mine development, capitalizing on projected gold price increases driven by economic instability. The CK Gold Project in Wyoming offers upside potential through feasibility studies and permitting progress, which may enhance the company's valuation if commodity markets remain favorable. Additionally, as a U.S.-focused explorer, USAU could benefit from domestic policy support for critical minerals, attracting investor interest and partnerships that drive stock appreciation.
TMC
TMC The Metals Co Inc is a deep-sea minerals exploration company focused on the collection, processing, and refining of polymetallic nodules found on the seafloor in international waters of the Clarion Clipperton Zone (CCZ). Polymetallic nodules are discrete rocks that sit unattached to the seafloor, occur in notable quantities in the CCZ, and have high concentrations of nickel, copper, cobalt, …
TMC matters in the Mining sector as a pioneer in deep-sea mineral exploration, focusing on polymetallic nodules in the Clarion Clipperton Zone, which contain critical metals like cobalt, nickel, and copper essential for electric vehicles and renewable energy technologies. This positions TMC as a potential disruptor in addressing global mineral shortages, diversifying supply chains away from traditional land-based mining amid increasing demand.
TMC's ROE of -364.0% highlights severe unprofitability, indicating that the company is losing substantial value relative to shareholders' equity due to high costs associated with deep-sea exploration and development. The Tradestie Score of 53.0/100 suggests a moderate overall financial health, but persistent losses may pose risks until operational efficiencies or revenue streams from nodule processing are established.
By 2026, TMC could capitalize on surging demand for critical metals, driven by global electric vehicle adoption and renewable energy projects, potentially boosting stock value as the company scales operations. If TMC secures regulatory approvals for commercial mining in the CCZ, its innovative extraction technology could lead to cost reductions and profitability, transforming it into a key supplier. Additionally, the company's focus on sustainable deep-sea mining aligns with environmental regulations, offering long-term growth potential as traditional mining faces resource depletion.
DC.WS
Dakota Gold Corp is a gold exploration and development company with a specific focus on revitalizing the Homestake District in Lead, South Dakota. Dakota Gold has high-caliber gold mineral properties covering over 48 thousand acres surrounding the historic Homestake Mine. Company project includes Richmond Hill Project.
Dakota Gold Corp matters in the mining sector due to its focused efforts on revitalizing the historic Homestake District in South Dakota, a region with proven gold potential from past operations. With over 48,000 acres of high-caliber mineral properties, the company positions itself as a key player in gold exploration, potentially unlocking untapped resources in a strategically important area.
Limited financial data makes a comprehensive profitability analysis challenging, but the Tradestie Score of 52.6/100 indicates moderate financial health, suggesting the company maintains stability amid exploration risks. As a gold exploration firm, profitability is likely deferred until successful project development, with current metrics implying potential for growth if resource estimates materialize.
Investors should consider buying DC.WS warrants by 2026 given the potential for rising gold prices driven by global economic factors, which could elevate Dakota Gold's share value above the $2.08 exercise price. The company's extensive 48,000 acres in the Homestake District offer significant upside from possible major discoveries or production advancements, enhancing warrant appeal. Additionally, as an exploration-stage company, successful milestones by 2026 could provide leveraged returns, making warrants an attractive option for risk-tolerant investors seeking exposure to the gold sector's recovery.
NEXM
NexMetals Mining Corp is a mineral exploration and development company focused on discovering and advancing high-quality copper-nickel-cobalt-platinum element metals (Cu- Cu-Ni-Co-PGE) resources. The group prioritizes projects in stable, mining-friendly jurisdictions with supportive foreign investment and rule-of-law standards. Its projects are Botswana and Canada.
NexMetals Mining Corp. matters in the Mining sector due to its specialized focus on high-quality copper-nickel-cobalt-platinum group element resources, which are critical for the global energy transition and electric vehicle supply chains. By prioritizing projects in stable, mining-friendly jurisdictions, the company enhances its appeal for long-term investment in essential metals amid growing demand.
NexMetals' ROE of -194.1% signals severe unprofitability, indicating that the company is eroding shareholder equity at an alarming rate due to operational losses and inefficiencies. The Tradestie Score of 52.4/100 reflects moderate investment potential but underscores financial weaknesses that could hinder sustainability without significant improvements.
By 2026, rising global demand for copper, nickel, and cobalt driven by electric vehicles and renewable energy could significantly boost NexMetals' resource values, potentially leading to higher stock prices as their exploration projects advance. The company's emphasis on stable jurisdictions reduces geopolitical risks, positioning it for efficient project development and operational scalability. Moreover, successful discoveries in their high-quality Cu-Ni-Co-PGE targets could transform the company's financial outlook, making it an attractive buy for investors seeking exposure to critical metals.
SCCO
Southern Copper Corp is an integrated producer of copper and other minerals and operates the mining, smelting, and refining facilities in Peru and Mexico. Its production includes copper, molybdenum, zinc, and silver. The company operates through the following segments: Peruvian operations, Mexican open-pit operations, and Mexican underground mining operations. It generates the majority of its revenue from the sale of …
Southern Copper Corporation is a pivotal player in the mining sector as one of the largest integrated producers of copper and other minerals, operating mining, smelting, and refining facilities in Peru and Mexico, which are key regions for global mineral supply. Its diversified production of copper, molybdenum, zinc, and silver meets critical demands in industries like electronics, construction, and renewable energy, positioning it as an essential contributor to the global transition to sustainable technologies.
Southern Copper's 31.0% profit margin and 39.3% ROE reflect strong profitability and efficient use of equity, indicating solid financial health despite sector volatility. Additionally, with a 15.2% revenue growth, the company demonstrates resilience, though its 31.4 P/E ratio suggests it is valued at a premium compared to industry averages.
Southern Copper's 15.2% revenue growth and 39.3% ROE signal strong potential for continued earnings expansion by 2026, driven by rising global demand for copper in electric vehicles and renewable energy infrastructure. The company's integrated operations in resource-rich Peru and Mexico provide a competitive edge for cost-effective production and supply stability. Furthermore, its high profitability metrics, including a 31.0% profit margin, support the likelihood of sustained shareholder returns amid the sector's long-term growth trajectory.
Methodology
Stocks are ranked using the Tradestie Score, a proprietary 0-100 rating that combines fundamental quality (profitability, balance sheet strength), growth metrics (revenue and earnings growth), valuation (P/E, PEG ratio), and momentum factors. Scores are updated daily based on the latest market data. Learn more about our methodology.