10 Best Commodity Stocks to Buy in 2026

8. Newmont Corporation (NYSE:NEM)

Number of Hedge Fund Holders: 82

With significant hedge fund interest and analyst support (29.8% upside), Newmont Corporation (NYSE:NEM) ranks among the best commodity stocks to buy in 2026.

Newmont Corporation (NYSE:NEM) ranks among gold equities trading at a premium valuation relative to peers, according to RBC Capital Markets’ sector analysis on May 29, 2026.

That assessment followed a strong first quarter.

Newmont Corporation (NYSE:NEM) reported adjusted earnings of $2.90 per share, well above the analyst consensus estimate of $2.18 per share compiled by LSEG.

Record gold prices drove the quarterly beat. The quarterly average realized gold price came in at $4,900 per ounce, up from $2,944 per ounce in the year-ago period. Attributable gold production, however, fell to 1.30 million ounces from 1.54 million ounces a year earlier, hurt by bushfires at Boddington, rainfall and weaker grades at Tanami, and planned maintenance at Lihir and Cerro Negro.

Looking ahead, Newmont Corporation (NYSE:NEM) guided for roughly 23% of total attributable production in the second quarter, slightly below the first quarter, with unit costs expected to rise on higher sustaining capital spending, lower silver output, and increased costs at Boddington, Tanami, Lihir, and Penasquito.

Oil prices acted as another variable during the quarter. Interim CFO Peter Wexler said every $10 per barrel change in oil prices translates to roughly $60 million in costs, or about $12 per ounce in all-in sustaining costs.

Newmont Corporation (NYSE:NEM) also authorized a new $6 billion share repurchase program after fully completing its prior buyback plan.

Following the Q1 report, BMO Capital analyst Matthew Murphy raised the firm’s price target on Newmont Corporation (NYSE:NEM) to $145 from $140, keeping an “Outperform” rating. Murphy noted Q2 production may dip slightly but said the gold miner is off to a good start on guidance and is working to manage costs and grow production in the second half of 2026 and beyond.

Newmont Corporation (NYSE:NEM) is one of the world’s largest gold-mining companies, producing significant amounts of copper, silver, zinc, and lead as byproducts.