In this article, we will look at the 10 Best Metal Stocks to Buy Right Now.
It’s a race against time as nations rush to secure supplies of metals crucial to the next industrial revolution. Canada has already announced plans to buy stakes in projects that will produce and process key metals to reduce reliance on China. The US on its part is making strategic investments in Lithium mines as it seeks to reduce its dependence on China for metals it deems vital to national security.
Amid the protection measures, tariffs, and shaky consumer confidence have also proved to be tailwinds for US material stocks. Metal companies in the US are benefiting from a significant price spike driven by the US tariff war and protectionist measures. Bloomberg Intelligence data already shows that material stocks could see a 20% lift on earnings in 2026.
Companies active in the metals and packaging industries are poised to receive the biggest lift as trade protections strengthen steel prices. According to BI analyst Richard Bourke, tariffs on US steel imports give domestic producers a pricing advantage.
“US mills should continue to displace imports as long as 50% Section 232 tariffs remain in place,” Bourke said. The analyst expects the current trade policy to lead to continued gradual improvement in business conditions for metal companies.
Federal Reserve rate cuts are also expected to aid the materials sectors, with chemicals seen returning to growth after three years of shrinking. The construction materials sector is also likely to reverse last year’s contraction.
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Our Methodology
To create our list of the best metal stocks to buy now, we analyzed popular metal and mining ETFs that cover industrial metals such as copper, steel, and aluminum, diversified mining companies, and precious metals including gold, silver, and platinum. Key funds in this space are the SPDR S&P Metals & Mining ETF (XME), Global X Copper Miners ETF (COPX), iShares MSCI Global Metals & Mining Producers ETF (PICK), and VanEck Gold Miners ETF (GDX). We focused on stocks that analysts believe possess the potential for growth, boasting of positive upside potential. Finally, we ranked the best metal stocks to buy right now based on the number of hedge funds that hold stakes in them in the third quarter of 2025.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research shows we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 427.7% since May 2014, beating its benchmark by 264 percentage points (see more details here).
Note: The upside potential data is as of January 13, 2026.
Best Metal Stocks to Buy Right Now
10. NioCorp Developments Ltd. (NASDAQ:NB)
Number of Hedge Fund Holders: 18
NioCorp Developments Ltd. (NASDAQ:NB) is one of the best metal stocks to buy right now. On December 22, the company’s board approved the Mine Portal Project, paving the way for the development of the Elk Creek Critical Minerals Project.
The approval paves the way for the establishment of the main entrances to the Elk Creek project’s underground mine, which is expected to serve as the access point for personnel, equipment, and materials. Work is to begin in the first quarter and is likely to result in a capital cost of about $44.6 million.
“Approval of the Portal Project is a significant milestone for NioCorp,” said Mark A. Smith, CEO and Chairman of NioCorp. “This initiative allows us to advance one of the critical path schedule items for the project as we continue working toward securing the remaining financing needed for the Elk Creek Project. We greatly appreciate the strong support shown by Nebraskans and our project partners as we continue advancing.”
Meanwhile, on December 8, H.C. Wainwright reiterated a Buy rating and increased the price target to $9.50 from $8.25. The Buy rating comes on the company completing an $8.4 million acquisition of FEA Materials LLC, which will bolster its ability to produce aluminum scandium master alloy in the US.
Earlier on December 4, NioCorp Developments Ltd. announced it had acquired the manufacturing assets and intellectual property of Massachusetts-based FEA Materials LLC, a move that will support U.S. production of aluminum-scandium master alloy as demand rises. Once its Nebraska mine and processing facility are funded and operational, the deal positions NioCorp to build the nation’s first fully integrated scandium supply chain, spanning mining, oxide production, and alloy manufacturing for defense and commercial markets.
NioCorp Developments Ltd. (NASDAQ:NB) is a U.S. mineral Development Company focused on bringing the Elk Creek Project in Nebraska online to mine crucial materials Niobium, Scandium, and Titanium, along with potential Rare Earth Elements (REEs).
9. USA Rare Earth, Inc. (NASDAQ:USAR)
Number of Hedge Fund Holders: 30
USA Rare Earth, Inc. (NASDAQ:USAR) is one of the best metal stocks to buy right now. On December 10, the company affirmed the acceleration of the commercialization timeline for its Round Top heavy rare-earth deposit in Texas. The company is now focused on commencing commercial production in late 2028, two years earlier than anticipated.
The acceleration comes as the company achieves promising results from solvent-extraction piloting, enabling it to operate its Hydromet demonstration facility in Colorado this year. The facility is to run five solvent extraction circuits continuously and generate operational data for commercial plant design.
The milestones underscore that the company is on track to begin extracting value from the Round Top deposit, one of the US’s known deposits of the heavy rare-earth elements gallium and beryllium.
“We’re challenging ourselves to innovate and pursue creative solutions that accelerate our timeline for securing, restoring, and growing the U.S. rare earth value chain,” said Barbara Hampton, Chief Executive Officer of USA Rare Earth. “Beginning commercial production at Round Top two years earlier than anticipated would be an exciting milestone made possible by the team’s technical capabilities, process knowledge, and ingenuity. As global demand for rare earth magnets continues to rise and geopolitical risks escalate, accelerating domestic production is essential for securing the long-term competitiveness of U.S. manufacturing.”
Analysts at Benchmark have already reiterated that the stock is a Buy with a $15 price target. The positive stance affirms the research firm’s confidence that the company is advancing a horizontally integrated concept” through its acquisition of LCM.
USA Rare Earth, Inc. (NASDAQ:USAR) builds a domestic U.S. supply chain for rare earth elements (REEs) and magnets, developing the Round Top mine in Texas for minerals like Dysprosium and Terbium, and constructing a magnet manufacturing plant in Oklahoma, aiming to reduce reliance on China for critical components used in defense, EVs, electronics, and green energy.
8. Commercial Metals Company (NYSE:CMC)
Number of Hedge Fund Holders: 31
Commercial Metals Company (NYSE:CMC) is one of the best metal stocks to buy right now. On December 30, Goldman Sachs raised the price target for Commercial Metals Company (NYSE:CMC) to $84 from $76 and reiterated a Buy rating. The price target hike comes on the company revising its EBITDA estimates for 2026 by 6%, for 2027 by 13%, and for 2028 by 10%.
The new EBITDA estimates reflect mark-to-market pricing and contributions of the Foley Products acquisition. With the acquisition, it expanded its presence into the precast concrete and pipe products market. According to the investment bank, the company boasts a market-leading position in steel rebar, ranking first in the United States and Poland.
Goldman Sachs has also touted Commercial Metals’ prospects, citing its expansion into non-steel construction products and services. The purchase of Concrete Pipe & Precast for $675 million expands the company’s footprint into the Mid Atlantic and South Atlantic regions. It is also well-positioned financially to pursue additional acquisitions in concrete pipe and precast concrete. It has already increased its revolving credit facility to $1 billion, enhancing financial flexibility.
Commercial Metals Company (NYSE:CMC) is a global leader in sustainable steelmaking, specializing in recycling scrap metal to produce long steel products like rebar, merchant bar, and wire rod. It also provides construction solutions, including rebar fabrication, soil stabilization (Tensar), and performance steel.
7. Vale S.A. (NYSE:VALE)
Number of Hedge Fund Holders: 37
Vale S.A. (NYSE:VALE) is one of the best metal stocks to buy right now. On January 9, Scotiabank downgraded Vale S.A. (NYSE:VALE) to Sector Perform from Sector Outperform, even as it raised the price target to $15 from $14, citing pressure on iron ore markets from rising supply and Guinea’s Simandou mine ramp‑up.
The bank warned that weak steel demand in China and limited stimulus could drive benchmark iron ore prices down to $90 per ton in the second half of 2026. Despite Vale’s 53% gain in 2025, Scotiabank expects the rally to stall and advises investors to wait for a better entry point.
On December 10, analysts at RBC Capital upgraded Vale S.A. (NYSE:VALE) to Outperform from Sector Perform and increased the price target to $14.20 from $11.
The upgrade follows a move by the research firm to increase iron ore price forecasts by 13% due to an expected delay in the Simandou project. The project is expected to face challenges related to geology and a complex multi-node infrastructure system. Any delay in the project coming online is expected to trigger supply issues in the iron market, likely leading to a significant price spike.
According to the research firm, the expected delay positions Vale as a clear winner, as it is likely to benefit from higher commodity prices. That’s in part because the company boasts of high-grade iron ore products expected to command larger premiums with fewer competing tons coming to market. Iron ore prices are expected to average $100 a ton for the first half of the year before easing to $95 in the second half.
The research firm is also projecting higher valuation multiples for the Brazilian mining giant. RBC Capital expects Vale to supplement its base dividend with special payouts as it expects its yield to more than double to 9%.
Vale S.A. (NYSE:VALE) is a multinational corporation primarily involved in metals and mining, and is a world leader in the production of iron ore and nickel. It’s also extracting copper, manganese, ferroalloys, gold, silver, cobalt, and platinum group metals.
6. Rio Tinto Group (NYSE:RIO)
Number of Hedge Fund Holders: 37
Rio Tinto Group (NYSE:RIO) is one of the best metal stocks to buy right now. On January 9, Reuters reported that Glencore is in takeover talks with Rio Tinto Group (NYSE:RIO) on a potential all‑share deal that could create the world’s largest mining group worth nearly $207 billion. The miners have explored a merger before, with Rio rejecting Glencore’s 2014 bid and talks in late 2024 ending without agreement. With a new CEO at Rio and intensifying competition for copper and other metals vital to the energy transition and AI, the companies confirmed discussions after the Financial Times highlighted the negotiations.
Earlier on December 17, analysts at Berenberg reiterated a Hold rating on the stock and maintained a $70 price target. The cautious outlook comes on the heels of the Anglo-Australian miner embarking on a cost reduction plan.
The company aims to cut costs and offload up to $10 billion in assets to bolster earnings by as much as 50% by 2030. Under the leadership of Simon Trott, management is focused on ensuring a sharper, simpler business that delivers higher returns to investors. Part of the drive entails unlocking between $5 billion and $10 billion from the asset base by reviewing ownership of land, infrastructure, mining, and processing businesses.
Rio Tinto is targeting 40% to 50% earnings growth by 2030, based on long-run consensus prices, driven by a 20% increase in copper production and an improved operational model. In addition, it plans to drop capital expenditure to below $10 billion by 2028 as it reduces spending on decarbonization. The company has already secured a 15-year renewable energy deal with TerraGen for the supply of 78.5 megawatts of energy from the Monte Cristo I Windpower project in Texas.
Rio Tinto Group (NYSE:RIO) is a leading global mining and materials company that extracts and processes essential resources like iron ore, copper, aluminium, lithium, and other critical minerals, which are vital for construction, everyday products, and the world’s transition to low-carbon energy.
5. Energy Fuels Inc. (NYSE:UUUU)
Number of Hedge Fund Holders: 38
Energy Fuels Inc. (NYSE:UUUU) is one of the best metal stocks to buy right now. On December 29, the company confirmed it exceeded its disclosed guidance for finished uranium production, mined uranium ore production, and uranium concentrate sales in 2025.
The milestone underscores a ramp-up of uranium mines and production facilities, allowing the company to affirm its dominance as a uranium producer. It has also advanced its position as a leading producer of rare earth elements and other critical materials. The company mined 1.6 million pounds of uranium last year, exceeding guidance by 11%. It is currently mining at a rate of 2 million pounds of recoverable ore per year.
“These 2025 uranium metrics reinforce our reputation as not only the country’s lowest-cost and largest uranium producer, but as a company that delivers on its promises,” said Energy Fuels’ CEO Mark S. Chalmers. “Nuclear energy powered by uranium is among the cleanest, least expensive, and most reliable ways to supply our nation’s growing energy and electricity needs. Strong uranium production is critical to America’s economic and national security, and Energy Fuels is proud to lead the comeback of this critical domestic industry.
The significant ramp in uranium production came on the heels of Texas Capital Securities initiating coverage of the stock with a Buy rating and a $20 price target. The positive stance affirms the research firm’s confidence about the company’s prospects as it advances its portfolio of upstream uranium mines with production potential of about 6 million pounds of uranium oxide per year.
Energy Fuels Inc. (NYSE:UUUU) is a leading U.S. critical mineral company that primarily produces uranium for nuclear energy, but also extracts rare earths, vanadium, titanium, and zircon from its Utah-based White Mesa Mill and mines.
4. Franco-Nevada Corporation (NYSE:FNV)
Number of Hedge Fund Holders: 39
Franco-Nevada Corporation (NYSE:FNV) is one of the best metal stocks to buy right now. On December 10, analysts at RBC Capital upgraded Franco-Nevada Corporation (NYSE:FNV) to an Outperform from Sector Perform. The research firm also raised its price target for the stock to $250 from $225. The upgrade came on the stock, demonstrating strong momentum with a 74% gain.
Despite the significant gain, RBC Capital maintains that the stock remains attractively valued. In addition to valuation, the company remains well insulated compared to other producers ahead of earnings season. The research firm remains confident of the stock’s potential upside, driven by operations at Cobre Panama.
Franco-Nevada has made a name for itself as a gold-focused royalty company. It provides investors with exposure to precious metals without the operational risks of mining. That was the catalyst behind solid Q3 2025 results, in which earnings totaled $1.43 a share, beating the $1.38 a share expected. Revenue also totaled $487.7 million against $456.02 million expected.
The company maintains a debt-free position, therefore in a solid position to pay a quarterly dividend of $0.38 per share, which affirms its focus on sustainable growth and shareholder returns. The company estimates revenue of $2.3 billion and $1.3 billion in earnings by 2028 implying an annual revenue growth rate of 19.5%.
Franco-Nevada Corporation (NYSE:FNV) is a leading gold-focused royalty and streaming company that invests in natural resource assets, primarily precious metals gold, silver, PGM and other mining projects, without operating mines or exploring itself.
3. Nucor Corporation (NYSE:NUE)
Number of Hedge Fund Holders: 44
Nucor Corp (NYSE:NUE) is one of the best metal stocks to buy right now. On January 9, Morgan Stanley cut Nucor Corp (NYSE:NUE) to Equal Weight from Overweight, while lifting its price target to $180 from $165. The firm pointed to a balanced risk‑reward with limited upside, even as it expects strong cash flow and earnings growth. Analysts warned that soft demand could weigh on steel prices, noting hot‑rolled coil may peak near $1,000 per ton before easing toward $800 from the current $930.
Earlier on December 18, analysts at Wells Fargo reiterated an Overweight rating on Nucor Corp (NYSE:NUE) but lowered the price target to $176 from $178. The price target cut is in response to what the research firm believes is a light fourth-quarter 2025 guidance by management.
The research firm is wary that the stock could come under pressure as investors look through weakness, hurt by contract lags for 80% of sheet shipments. Management expects the company’s fourth quarter 2025 earnings to range between $1.65 and $1.75 per diluted share. It would represent a significant decline from the $2.63 per diluted share in earnings delivered in the third quarter.
The lower-than-expected earnings would come on the back of a seasonal decline. Additionally, Nucor faced fewer shipping days in the fourth quarter. Looking to 2026, management highlighted stronger backlogs in energy, infrastructure, data centers, and manufacturing, with full Q4 results due January 26 and a conference call on January 27.
Nucor Corporation (NYSE:NUE) is North America’s largest steel and steel products manufacturer, operating as a highly efficient, diversified producer that recycles the most material of any North American manufacturer, primarily using electric arc furnaces (EAFs) with significant recycled content for sustainable production.
2. Agnico Eagle Mines Limited (NYSE:AEM)
Number of Hedge Fund Holders: 57
Agnico Eagle Mines Limited (NYSE:AEM) is one of the best metal stocks to buy right now. On January 8, 2026, Agnico Eagle Mines Limited (NYSE:AEM) announced that it will report fourth-quarter and full-year 2025 results on February 12, after market close.
On December 16, the company confirmed the acquisition of 26 million common shares of Osisko Metals for a total consideration of $12.48 million. The investment is poised to increase the company’s ownership stake in Osisko to 9.85% on a non-diluted basis. The acquisition is part of the company’s push to acquire strategic positions in prospective projects with high geological potential.
The company is increasingly focusing on investment portfolios with high-quality internal growth prospects. The investments are designed to help the company complement its pipeline by focusing on projects with high geological potential. Meanwhile, the company has confirmed that it may acquire additional Osisko securities or dispose of its holdings in Osisko, depending on market conditions and strategic priorities.
The investment spree comes when Wall Street firms remain cautious about the company’s prospects. On December 7, Jefferies reaffirmed its Hold rating on Agnico Eagle and maintained a $189 price target. RBC Capital also shares similar sentiments, having reiterated a Hold rating on the stock on December 10 and sticking with a $205 price target.
Agnico Eagle Mines Limited (NYSE:AEM) is a major Canadian-based gold mining company that explores, develops, and produces precious metals (primarily gold, but also silver, zinc, and copper) from mines in Canada, Australia, Finland, and Mexico, focusing on high-quality assets in stable jurisdictions with a strong emphasis on sustainability, safety, and community engagement.
1. Newmont Corporation (NYSE:NEM)
Number of Hedge Fund Holders: 74
Newmont Corporation (NYSE:NEM) is one of the best metal stocks to buy right now. On December 29, analysts at Raymond James raised Newmont Corporation’s (NYSE:NEM) price target to $111 from $99 and reiterated an Outperform rating.
The research firm attributes the price target hike to Newmont’s exposure to gold through a lower-jurisdictional-risk global portfolio. Consequently, the company can generate solid cash flow amid rising gold prices, which affirms its financial stability. Additionally, being the only gold stock listed in the S&P affirms its unique exposure to institutional investors.
Raymond James has also attributed the positive stance to the company’s solid dividend framework, which also allows it to share excess capital with shareholders. RBC Capital analyst Josh Wolfson also maintains a bullish stance on the stock with a $120 price target.
Meanwhile, on December 18, Newmont Corporation agreed to sell 6.77 million shares of Fuertes Metals Corporation for $22 million. The sale through the company’s subsidiary will reduce ownership stake to 19.5% from 24%.
Newmont Corporation (NYSE:NEM) is the world’s leading gold mining company, also producing significant amounts of copper, silver, zinc, and lead through large-scale extraction, processing, and refining of these metals from mines globally, focusing on sustainable practices, safety, and strong environmental, social, and governance (ESG) standards.
While we acknowledge the potential of NEM to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than NEM and that has 100x upside potential, check out our report about this cheapest AI stock.
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