11 Best Commodity Stocks to Buy

2. Freeport-McMoRan (NYSE:FCX)

Number of Hedge Fund Holders: 84

Freeport‑McMoRan (NYSE:FCX) is one of the best commodity stocks to buy, even as BMO Capital trims short‑term expectations. On July 23, 2025, BMO reduced its price target to $54 from $55 while maintaining its Outperform rating on the stock, noting that the company delivered a “well‑executed quarter” despite a cut to its 2025 gold production forecast.

BMO analyst Katja Jancic emphasized that U.S. operations remain poised to benefit from cash flow tailwinds, even if tariffs weigh on the horizon, and that the stock appears attractively valued at roughly 6 times estimated 2026 EBITDA, or closer to 5 times if a 25 percent tariff is introduced.

Freeport‑McMoRan (NYSE:FCX) is headquartered in Phoenix, Arizona. it’s a globe‑spanning mining giant renowned for its vast, low‑cost copper assets alongside meaningful gold output, serving as a backbone of global copper and gold supply.