In this article, we will look at the 10 Must-Buy Mining Stocks to Invest In.
Mining stocks are gaining renewed attention as investors navigate a global environment marked by elevated geopolitical tensions, rising demand for strategic metals, and strong interest in safe-haven assets such as gold and silver. Precious metals in particular have historically attracted capital during periods of uncertainty, and recent developments in the Middle East have reinforced that dynamic. As geopolitical risks increase, investors often turn to gold and silver as stores of value, which in turn strengthens the outlook for mining companies that produce these commodities.
Institutional investors have also highlighted the improving investment case for the mining sector. Baker Steel notes in its outlook that “miners remain undervalued and underowned,” even after a strong run in commodity prices. The firm adds that “the investment case for gold has strengthened,” pointing to factors such as volatile geopolitics, persistent inflation risks, and continued demand for precious metals as portfolio hedges.
BlackRock echoes this view, noting that “rising geopolitical tensions” have supported sentiment toward gold and related assets. The firm also points to “an exciting outlook for gold producer earnings,” driven by stronger commodity prices, disciplined capital allocation, and improved cost control across the industry.
Recent market developments have further reinforced the sector’s momentum. According to reports from The Economic Times, gold and silver prices surged as investors sought safe-haven assets following escalating tensions involving Iran and the broader Middle East.
Taken together, institutional outlooks and recent market developments suggest that mining companies could benefit from a combination of higher commodity prices, stronger balance sheets, and sustained investor demand for precious metals. With that in mind, we take a closer look at the 10 Must-Buy Mining Stocks to Invest In.
Our Methodology
We used the Finviz screener to identify mining stocks that have an upside potential of at least 20%, and limited our final selection to companies that have recently reported noteworthy developments likely to impact investor sentiment. These stocks are also popular among analysts and elite hedge funds.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that 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).
10. AngloGold Ashanti plc (NYSE:AU)
On February 25, 2026, Scotiabank analyst Tanya Jakusconek raised the firm’s price target on AngloGold Ashanti to $134 from $131 and maintained an Outperform rating. The firm updated its models for Gold & Precious Minerals stocks under its coverage, noting that AngloGold Ashanti has made progress on permitting in Nevada, initiated a feasibility study at Arthur Gold, and provided updates across several assets.
The same day, JPMorgan analyst Patrick Jones raised the firm’s price target on AngloGold Ashanti to $164 from $131 and kept an Overweight rating on the shares.
On February 20, 2026, Roth Capital raised its price target on AngloGold Ashanti to $122 from $92 and reiterated a Buy rating. The firm said the company’s Q4 results were mixed relative to its estimates but highlighted strong free cash flow generation and a higher-than-expected quarterly dividend. Roth added that AngloGold Ashanti continues to offer investors a strong portfolio of assets, robust free cash flow, dividends, and leverage to higher gold prices.
Also on February 20, 2026, AngloGold Ashanti reported that free cash flow tripled to a record $2.9 billion in 2025 as adjusted EBITDA more than doubled to $6.3 billion. Gold production increased 16%, while total cash costs and all-in sustaining costs were flat in real terms. The company reported adjusted net cash of $879 million and declared a Q4 interim dividend of $875 million, or 173 cents per share, bringing total dividends declared for 2025 to $1.8 billion, or 357 cents per share.AngloGold Ashanti plc (NYSE:AU) operates as a gold mining company in Africa, Australia, and the Americas. It primarily explores for gold, as well as by-products, including silver and sulphuric acid.
AngloGold Ashanti plc (NYSE:AU) is a gold mining company with operations across Africa, Australia, and the Americas. The company primarily explores for and produces gold, along with by-products such as silver and sulphuric acid.
9. Centerra Gold Inc. (NYSE:CGAU)
On February 26, 2026, BofA analyst Lawson Winder raised the firm’s price target on Centerra Gold Inc. (NYSE:CGAU) to $14.50 from $12.50 and maintained an Underperform rating on the shares. The analyst said the firm is updating price targets across its North American Metals & Mining coverage following revised 2026 metal price forecasts.
On February 19, 2026, Centerra Gold reported Q4 adjusted EPS of 41c, beating the 37c consensus estimate, while revenue came in at $401.6M versus the $360.6M consensus. Gold production in the fourth quarter totaled 70,853 ounces. CEO Paul Tomory said the company delivered strong production and exceeded its cost guidance, supported by solid operational performance at Mount Milligan and Oksut.
Tomory added that Centerra ended the year with $529M in cash and an equity investment portfolio valued at more than $115M, reflecting disciplined capital allocation. The company continued investing in its Thompson Creek restart project and broader organic growth pipeline, including Mount Milligan, Kemess, and Goldfield, while returning capital to shareholders through $30M in share buybacks in Q4 and a consistent quarterly dividend of $10M. Looking ahead to 2026, Tomory said production and cost guidance reflect stable operating performance across the portfolio, with operations expected to generate strong cash flow to support growth projects and shareholder returns.
Centerra Gold expects gold production of 250,000 to 280,000 ounces in 2026, compared with 275,000 ounces produced in 2025.
Centerra Gold Inc. (NYSE:CGAU) operates, develops, explores, and acquires gold and copper properties in North America, Turkey, and other international markets. The company also operates a molybdenum business unit that includes a metallurgical processing facility and two primary molybdenum properties.
8. Eldorado Gold Corporation (NYSE:EGO)
On February 26, 2026, BofA raised the firm’s price target on Eldorado Gold Corporation (NYSE:EGO) to $38 from $33 and maintained an Underperform rating on the shares. The firm updated price targets across its North American Metals & Mining coverage following revised 2026 metal price forecasts.
On February 25, 2026, Scotiabank lowered its price target on Eldorado Gold to $58 from $59 and maintained an Outperform rating. The firm said it is updating models for Gold & Precious Minerals stocks under its coverage and noted that the company has delivered on the start-up of the Skouries project, is set to close its Foran transaction in Q2, completed the expansion at Olympias, and advanced the Perama Hill project.
On February 19, 2026, Eldorado Gold reported Q4 adjusted EPS of 63c, compared with the 64c consensus estimate, and revenue of $577.2M. CEO George Burns said 2025 was a year of strong execution and meaningful progress across the company’s portfolio, with gold production reaching the higher end of guidance at 488,268 ounces. Burns highlighted strong performance at Lamaque and consistent results from Kisladag and Efemcukuru, adding that favorable gold prices and solid operating execution drove revenue of $1.8B, operating cash flow of $743M, and free cash flow of $316M excluding Skouries. He also noted that the company’s strong balance sheet provides the financial flexibility to advance its growth pipeline while maintaining the ability to return capital to shareholders.
Eldorado Gold Corporation (NYSE:EGO), together with its subsidiaries, engages in the mining, exploration, development, and sale of mineral products primarily in Turkey, Canada, and Greece. The company primarily produces gold, along with silver, lead, and zinc.
7. Kinross Gold Corporation (NYSE:KGC)
BofA raised its price target on Kinross Gold Corporation (NYSE:KGC) to $42.75 from $37.50 and maintained a Buy rating after updating forecasts for 2026 metal prices across its North American Metals & Mining coverage.
On February 18, 2026, Kinross reported Q4 adjusted EPS of 67c versus consensus of 55c and revenue of $2.023B compared with consensus of $2.06B.
CEO J. Paul Rollinson described 2025 as “another excellent year,” highlighting record free cash flow of $2.5 billion, an 85% increase year over year, and about $1.5 billion returned to debt and equity holders. Kinross ended the year with a net cash position of $1 billion. Rollinson also pointed to development catalysts including the Phase X, Curlew, and Redbird projects in the United States, which are expected to add more than $4 billion of net asset value and extend mine lives, alongside progress at the Great Bear and Lobo-Marte projects. The company forecasts roughly 2.0 million gold equivalent ounces of production in 2026 while focusing on margins, cash flow, and cost discipline. Kinross also plans to invest an additional $350 million into the business and target returning 40% of free cash flow to shareholders through dividends and share buybacks.
Kinross Gold Corporation (NYSE:KGC) acquires, explores, and develops gold properties primarily in the United States, Brazil, Chile, Canada, and Mauritania.
6. Wheaton Precious Metals Corp. (NYSE:WPM)
On March 5, 2026, Berenberg raised its price target on Wheaton Precious Metals Corp. (NYSE:WPM) to $180 from $159 and maintained a Buy rating.
Earlier, on February 26, 2026, BofA raised its price target on Wheaton Precious Metals to $188 from $160 and kept a Buy rating after updating forecasts for 2026 metal prices across its North American Metals & Mining coverage.
On February 16, 2026, Wheaton announced that its wholly-owned subsidiary, Wheaton Precious Metals International, entered into a definitive Precious Metals Purchase Agreement, the Silver Stream, with a wholly-owned subsidiary of BHP Group for its 33.75% portion of silver produced at the Antamina Mine in Peru. After closing, Wheaton will receive a combined 67.5% of all silver produced from Antamina, up from the 33.75% currently delivered under the existing Glencore silver stream. President Haytham Hodaly said the agreement deepens exposure to what Hodaly described as a “cornerstone” asset and called Antamina a “long-life, low-cost operation” expected to deliver immediate production and operating cash flow.
Wheaton Precious Metals Corp. (NYSE:WPM) sells precious metals across North America, Europe, Africa, and South America and primarily produces and sells gold, silver, palladium, platinum, and cobalt.
5. Endeavour Silver Corp. (NYSE:EXK)
On March 2, 2026, B. Riley analyst Nick Giles raised the price target on Endeavour Silver Corp. (NYSE:EXK) to $16 from $7 and maintained a Buy rating.
The same day, Alliance Global raised its price target on Endeavour Silver to $15.50 from $11 and kept a Buy rating following what Alliance Global described as “strong” 2025 results that included a significant year-over-year increase in production and higher revenue supported by stronger precious metals prices and the execution of internal and external growth initiatives. Also on March 2, Endeavour announced that COO Don Gray will retire effective April 30, with Luis Castro appointed as COO effective March 1. Castro previously served as Senior Vice President, Exploration, and has spent more than 22 years with the company.
On February 27, 2026, Endeavour reported Q4 adjusted EPS of 2c compared with the consensus of 5c. CEO Dan Dickson described 2025 as a “transformative year,” highlighting production growth, record revenue, and milestones including the commissioning of Terronera, the acquisition of Kolpa, and the sale of the Bolanitos Mine. Dickson added that the company’s balance sheet supports advancing strategic priorities, including exploration and technical work at the Pitarrilla project.
Endeavour Silver Corp. (NYSE:EXK) acquires, explores, develops, extracts, processes, and refines silver and other mineral properties in Mexico, Chile, Peru, and the United States.
4. Alamos Gold Inc. (NYSE:AGI)
On February 26, 2026, BofA raised the price target on Alamos Gold Inc. (NYSE:AGI) to $57 from $48 and maintained a Buy rating after updating forecasts for 2026 metal prices across its North American Metals & Mining coverage.
Earlier in February, Alamos Gold Inc. (NYSE:AGI) provided updated three-year production and operating guidance and outlined longer-term plans targeting approximately one million ounces of annual production by 2030 through the expansion of the Island Gold District and the start of production at Lynn Lake. CEO John A. McCluskey said recent operational performance was “not reflective of our long-term track record” but expects stronger results in 2026, particularly in the second half, as production ramps and costs decline following completion of the Island Gold shaft expansion.
McCluskey added the company expects 46% production growth by 2028 alongside nearly a 20% reduction in AISC, with further growth driven by the multi-phase Island Gold District expansion and the Lynn Lake startup. Production guidance for 2026 was lowered compared to January 2025 guidance due to slightly lower Canadian output, partially offset by increased production at the Mulatos District. Guidance for 2027 remains largely in line with prior expectations and implies a 13% increase from 2026, followed by a further 15% increase in 2028.
Alamos Gold Inc. (NYSE:AGI) operates as a gold producer in Canada and Mexico and primarily explores for gold deposits.
3. OR Royalties Inc. (NYSE:OR)
On February 24, 2026, OR Royalties Inc. (NYSE:OR) entered into a definitive agreement to acquire Terraco Gold, a wholly-owned subsidiary of Sailfish Royalty that indirectly holds net smelter return royalty assets largely covering Solidus’ Spring Valley Gold Project in Pershing County, Nevada. OR Royalties will purchase Terraco and the NSR royalties for total cash consideration of $168M, with the transaction expected to close in the first half of 2026. After completion, OR Royalties will hold a combined 6.0% NSR royalty on the Schmidt Claims, a 4.0% NSR royalty on the Additional Royalty Areas, and a 1.0% NSR royalty on the Perimeter Royalty Area. The company said the deal is expected to add gold equivalent ounces beyond its recently released 2030 five-year outlook range of 120,000 to 135,000 GEOs. Spring Valley is construction-ready, and Solidus expects first gold production in the first half of 2028.
On February 23, 2026, TD Securities analyst Derick Ma lowered the price target on OR Royalties Inc. (NYSE:OR) to C$64 from C$67 previously and maintained a Hold rating on the shares.
OR Royalties Inc. (NYSE:OR) acquires and manages precious metal and other royalties, streams, and related interests in Canada and internationally.
2. Royal Gold, Inc. (NASDAQ:RGLD)
On February 27, 2026, Scotiabank analyst Tanya Jakusconek lowered the price target on Royal Gold, Inc. (NASDAQ:RGLD) to $331 from $335 and maintained a Sector Perform rating. Tanya Jakusconek said investor focus in 2026 will center on the company delivering its first full year estimates following the SAND transaction, restructuring the Hod Maden joint venture interest, issuing 2026 guidance, and identifying additional precious metals opportunities.
On February 26, 2026, BofA raised its price target on Royal Gold to $278 from $256 and kept an Underperform rating after updating forecasts for 2026 metal prices across its North American Metals & Mining coverage.
On February 18, 2026, Royal Gold reported Q4 adjusted EPS of $1.92 versus consensus of $2.64 and revenue of $375.3M compared with two estimates of $386.67M. CEO Bill Heissenbuttel described 2025 as a “transformational year,” highlighting record financial results, multiple transactions, and mine life extensions and expansions across the company’s portfolio. Heissenbuttel added that these developments strengthen the scale and diversification of Royal Gold’s asset base while supporting long-term growth. The company also increased its annual dividend for the 25th consecutive year and reduced debt while rebuilding liquidity following a year of active transactions.
Royal Gold, Inc. (NASDAQ:RGLD) acquires and manages precious metal streams, royalties, and related interests across North America, South and Central America, Europe, the Middle East, Africa, and the Australia Pacific region.
1. SSR Mining Inc. (NASDAQ:SSRM)
On March 6, 2026, Canaccord raised the price target on SSR Mining Inc. (NASDAQ:SSRM) to C$58 from C$46 and maintained a Buy rating after the company agreed to sell its 80% interest in the Copler mine in Turkiye for $1.5 billion in cash to Cengiz Holding A.S. SSR Mining also plans to undertake a strategic review of its interest in the Hod Maden project in Turkiye.
On March 5, 2026, Scotiabank raised its price target on SSR Mining to C$50 from C$45 and maintained an Outperform rating.
On February 17, 2026, SSR Mining reported Q4 adjusted EPS of 88c versus consensus of 57c and revenue of $521.73M compared with consensus of $452.85M. Executive Chairman Rod Antal said the fourth quarter marked a “strong finish to the year,” with consolidated production for 2025 coming in above the midpoint of guidance and all-in sustaining costs aligned with expectations. Antal highlighted strong results at the CC&V and Puna operations, both of which exceeded full-year production guidance, helping the company generate about $172 million in operating cash flow and $106 million in free cash flow during the quarter. SSR Mining expects FY26 gold equivalent production of 450K-535K ounces.
SSR Mining Inc. (NASDAQ:SSRM) acquires, explores, and develops precious metal resource properties in the United States, Türkiye, Canada, and Argentina.
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