In this article, we will take a look at the 11 Best Mining Stocks to Buy According to Wall Street.

Mining stocks are drawing renewed attention as commodity markets enter 2026 with a mix of tight supply, structural demand, and rising strategic importance. According to Baker Steel Capital Managers, commodities are set to become “more important than ever in 2026 amid growing demand, structurally tight supply, and increased strategic and geopolitical focus on critical raw materials.” That backdrop has helped push miners back into focus.

The firm notes that the mining sector enters the year with “strong tailwinds for both industrial and investment demand alongside constrained supply across many metals,” while also pointing out that miners remain “undervalued and under owned, trading on relatively low multiples despite strong recent performance and robust balance sheets.”

This combination of improving fundamentals and discounted valuations has sharpened analyst selectivity, with Buy ratings increasingly concentrated on companies showing balance sheet strength, cost discipline, and leverage to commodities facing persistent deficits.

Baker Steel also frames mining equities as sitting at the center of major global themes, including the new industrial revolution, geopolitical and industrial strategy, and shifting macroeconomic conditions, where governments now view metals as strategic inputs rather than simple commodities. Against that backdrop, Wall Street’s consensus Buy/ Outperform ratings tend to cluster around miners that analysts see as best positioned to benefit from these trends.

In view of this, we’ll look at 11 Best Mining Stocks to Buy According to Wall Street.

Our Methodology

To identify the 11 Best Mining Stocks to Buy According to Wall Street, we used the Finviz screener to generate a list of mining stocks with a market capitalization of at least $2 billion. We then used the CNN analyst ratings compilation to determine the median upside for each stock as of February 10, 2026. We then ranked the 11 stocks according to their upside potential. We have also included the number of hedge funds that hold the stock as of Q3 2025.

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11. Pan American Silver Corp. (NYSE:PAAS)

Potential upside: 8.50%

Number of Hedge Fund Holders: 38

On February 4, 2026, CIBC analyst Cosmos Chiu raised the firm’s price target on Pan American Silver Corp. (PAAS) to $88 from $70 and reiterated an Outperformer rating. The update followed a broader reset across the precious metals group after CIBC lifted its gold price assumptions to $6,000 per ounce in 2026 and $6,500 in 2027, alongside higher copper forecasts. The firm said the same demand drivers that supported the sector in 2025 remain in place for 2026, although geopolitical risk has intensified.

Earlier, on January 26, 2026, Scotiabank also raised its price target on Pan American Silver to $64 from $47 while maintaining an Outperform rating, citing higher gold and silver price assumptions driven by macro uncertainty and continued central bank buying.

On January 21, 2026, Pan American Silver Corp. (PAAS) released preliminary Q4 and full-year 2025 results and issued 2026 guidance. Attributable silver production reached 22.8 million ounces in 2025, exceeding guidance, supported by a record 7.3 million ounces produced in the fourth quarter. Gold production totaled 742,200 ounces, in line with expectations. The Juanicipio mine outperformed, contributing 2.5 million ounces of silver since its September acquisition and a $44 million dividend in December. For 2026, the company guided to 25.0–27.0 million ounces of silver and 700,000–750,000 ounces of gold, with silver AISC of $15.75–$18.25 per ounce and gold AISC of $1,700–$1,850 per ounce. Capital spending is expected to total $515–$550 million.

Pan American Silver Corp. (PAAS) operates mining assets across the Americas, producing silver, gold, zinc, lead, and copper.

10. Newmont Corporation (NYSE:NEM)

Potential upside: 10.95%

Number of Hedge Fund Holders: 74

On February 9, 2026, Bank of America slightly lowered its price target on Newmont Corporation (NYSE:NEM) to $134 from $135 while maintaining a Buy rating. The firm said the adjustment followed updates to its model reflecting Newmont’s newly issued three-year guidance, as well as revised year-end 2025 reserves and resources from Barrick Mining.

Earlier in the month, analyst sentiment leaned more bullish. On February 4, 2026, CIBC raised its price target on Newmont Corporation (NYSE:NEM) to $177 from $112 and reiterated an Outperformer rating. The move came as CIBC lifted targets across its precious metals coverage after raising its gold price forecast to $6,000 per ounce in 2026 and $6,500 in 2027, while also increasing copper assumptions. The firm said demand drivers that supported the sector in 2025 remain intact heading into 2026, with heightened geopolitical uncertainty adding further support for precious metals prices.

Newmont Corporation (NYSE:NEM) engages in the production and exploration of gold properties. NEM is one of the world’s largest gold producers, with a diversified portfolio of mining operations and development assets across North America, Latin America, Australia, Africa, and Asia-Pacific, alongside exposure to copper, silver, zinc, lead, and other metals.

9. Eldorado Gold Corporation (NYSE:EGO)

Potential upside: 11.96%

Number of Hedge Fund Holders: 26

On February 4, 2026, CIBC raised its price target on Eldorado Gold Corporation (NYSE:EGO) to $54 from $46 and reiterated an Outperformer rating. The move was part of a broader update across the precious metals space after CIBC lifted its gold price forecasts to $6,000 per ounce in 2026 and $6,500 in 2027, while also increasing copper assumptions. The firm said the same demand drivers that supported the sector in 2025 remain in place heading into 2026, even as geopolitical risk has become more pronounced.

A few days earlier, on February 2, 2026, Eldorado Gold Corporation (NYSE:EGO) announced an agreement to acquire Foran Mining in an all-share transaction aimed at building a larger gold-copper producer with improved growth visibility and a more diversified portfolio. Under the terms of the deal, Foran shareholders will receive 0.1128 Eldorado shares plus C$0.01 in cash for each Foran share, implying an equity value of roughly C$3.8 billion. The transaction is expected to enhance Eldorado’s production profile while adding longer-life copper exposure.

Eldorado Gold Corporation (NYSE:EGO) operates mining and development assets primarily in Turkey, Canada, and Greece, producing gold alongside silver, lead, and zinc. Its core portfolio includes the Kisladag and Efemçukuru mines in Turkey, the Lamaque Complex in Quebec, and multiple assets in Greece, including Olympias and Skouries.

8. Wheaton Precious Metals Corp. (NYSE:WPM)

Potential upside: 13.84%

Number of Hedge Fund Holders: 38

On February 6, 2026, Wheaton Precious Metals Corp. (NYSE:WPM) announced a leadership transition as part of its succession plan. President Haytham Hodaly will take over as Chief Executive Officer, succeeding co-founder Randy Smallwood, who will step down after more than 15 years in the role and become non-executive Chair of the Board. The changes take effect March 31, 2026. As part of the transition, current Chair George Brack will move into the role of Lead Independent Director, while Hodaly will join the board alongside his move to President and CEO.

Earlier, on February 4, 2026, CIBC analyst Cosmos Chiu raised the firm’s price target on Wheaton Precious Metals Corp. (NYSE:WPM) to C$215 from C$175 and reiterated an Outperformer rating. The revision came as part of a broader update across the precious metals sector after CIBC lifted its gold price assumptions to $6,000 per ounce in 2026 and $6,500 in 2027, alongside higher copper forecasts. The firm said the demand drivers that supported the sector in 2025 remain intact heading into 2026, though it flagged rising geopolitical uncertainty as a key backdrop.

Wheaton Precious Metals Corp. (NYSE:WPM) operates a streaming-focused model, generating revenue primarily from gold and silver, with additional exposure to palladium, platinum, and cobalt through assets spanning North America, Europe, Africa, and South America.

7. Centerra Gold Inc. (NYSE:CGAU)

Potential upside: 16.94%

Number of Hedge Fund Holders: 44

On February 4, 2026, CIBC analyst Luke Bertozzi raised the firm’s price target on Centerra Gold Inc. (NYSE:CGAU) to C$37 from C$30 and reiterated an Outperformer rating. The move came as part of a broader reset across the precious metals sector after CIBC lifted its gold price assumptions to $6,000 per ounce in 2026 and $6,500 in 2027, alongside higher copper forecasts. The firm said the structural demand drivers that supported the group in 2025 remain intact heading into 2026, even as geopolitical risk has increased.

The view has been echoed by other firms. On January 26, 2026, Scotiabank raised its price target on Centerra Gold to $19 from $13.50 and maintained an Outperform rating, citing higher gold and silver price assumptions driven by macro uncertainty and continued central bank buying. Separately, Canaccord also lifted its price target to C$36 from C$31 and reiterated a Buy rating, reflecting a more constructive outlook on precious metals pricing and Centerra’s asset base.

Centerra Gold Inc. (NYSE:CGAU) focuses on the acquisition, exploration, development, and operation of gold and copper assets across North America, Türkiye, and other international markets. Its core operations include the Mount Milligan gold-copper mine in British Columbia and the Öksüt gold mine in Türkiye, alongside exploration exposure to molybdenum.

6. Alamos Gold Inc. (NYSE:AGI)

Potential upside: 19.14%

Number of Hedge Fund Holders: 35

On February 9, 2026, Bank of America raised its price target on Alamos Gold Inc. (NYSE:AGI) to $48 from $47 and maintained a Buy rating. The firm said the adjustment followed refinements to its model after Alamos’ investor update, reflecting updated assumptions around production growth and cost trajectories tied to the company’s development plans.

Earlier analyst commentary built off the same set of disclosures. On February 6, 2026, Scotiabank raised its price target on Alamos Gold to $60 from $55 and reiterated an Outperform rating. The firm said it came away positive on the quality of the asset base and the visibility of growth, noting that the stock offers a degree of defensiveness amid volatility in the precious metals market. That view followed Alamos’ February 4, 2026, update, where the company reaffirmed a path toward roughly one million ounces of annual production by 2030, driven by the Island Gold District expansion and the startup of Lynn Lake. While 2026 production guidance was trimmed, management continues to expect output to rise 13% in 2027 and 15% in 2028, delivering 46% cumulative growth by 2028 versus 2025 levels as costs decline in the back half of 2026.

Alamos Gold Inc. (NYSE:AGI) operates as a gold producer in Canada, Mexico, and the United States. The company primarily explores for gold deposits. Alamos Gold Inc. was founded in 2003 and is based in Toronto, Canada.

5. OR Royalties Inc. (NYSE:OR)

Potential upside: 19.87%

Number of Hedge Fund Holders: 18

On February 4, 2026, CIBC analyst Cosmos Chiu raised the firm’s price target on OR Royalties Inc. (NYSE:OR) to C$88 from C$86 and maintained an Outperformer rating. The update was part of broader target increases across the precious metals group after CIBC raised its gold price forecasts to $6,000 per ounce in 2026 and $6,500 in 2027, while also lifting copper assumptions. The analyst said the same demand drivers seen in 2025 are expected to carry into 2026, though geopolitical uncertainty remains elevated.

Other analysts adjusted their views earlier in the year. On January 26, 2026, Scotiabank raised its price target on OR Royalties Inc. (NYSE:OR) to $51 from $41 and kept a Sector Perform rating. The firm said it was updating price targets across its Gold and Precious Minerals coverage after increasing both gold and silver forecasts, citing economic and geopolitical uncertainty along with continued strong central bank buying.

OR Royalties Inc. (NYSE:OR) acquires and manages precious metal and other royalties and streams across assets in Canada and international markets. The company also holds options on offtake agreements, royalty and stream financings, and exclusive rights to participate in future royalty and stream transactions, with its primary asset being a 3 to 5 percent net smelter return royalty on the Canadian Malartic complex in Canada.

4. Barrick Mining Corporation (NYSE:B)

Potential upside: 21.14%

Number of Hedge Fund Holders: 75

On February 9, 2026, Citi analyst Alexander Hacking raised his price target on Barrick Mining Corporation (NYSE:B) to $48 from $38 while maintaining a Neutral rating. The revision followed Barrick’s latest quarterly results and updated operational outlook.

Other updates around the same period reflected a more mixed but still constructive tone. On February 6, 2026, UBS lowered its price target on Barrick to $55 from $59 while keeping a Buy rating.

The updates followed Barrick’s earnings report on February 5, 2026, when the company posted fourth-quarter revenue of $6.00 billion, well ahead of the $5.16 billion consensus estimate. Gold production increased 5% quarter over quarter to 871,000 ounces, while copper production reached 62,000 tons. Management said the quarter capped a strong 2025, delivering record cash flow and adjusted EPS, which supported a 40% increase in the quarterly base dividend, and added that operational momentum is expected to carry into 2026.

Barrick Mining Corporation (NYSE:B) engages in the exploration, development, production, and sale of mineral properties. It explores for gold, copper, silver, and energy materials. The company was formerly known as Barrick Gold Corporation and changed its name to Barrick Mining Corporation in May 2025. Barrick Mining Corporation was founded in 1983 and is based in Toronto, Canada.

3. Fortuna Mining Corp. (NYSE:FSM)

Potential upside: 21.21%

Number of Hedge Fund Holders: 40

On February 10, 2026, Fortuna Mining Corp. (NYSE:FSM) said it submitted an application for an exploitation permit for the Diamba Sud gold project to the Ministry of Energy, Petroleum, and Mines on February 4. The company said it continues to advance early works and engineering at Diamba Sud, including site preparation and detailed engineering programs intended to de-risk critical path activities and support the feasibility study. Fortuna also said it plans to publish an updated Mineral Resource estimate for Diamba Sud by the end of the month, which will form the basis for estimating Mineral Reserves for use in the feasibility study and support the evaluation of a potential construction decision targeted for mid-2026. The company added that robust project economics were demonstrated in the Preliminary Economic Assessment completed in October 2025.

On February 4, 2026, CIBC upgraded Fortuna Mining Corp. (NYSE:FSM) to Neutral from Underperformer and raised its price target to C$16 from C$9. The firm said it is raising its gold price forecast to $6,000 per ounce in 2026, $6,500 per ounce in 2027, and $6,000 per ounce in 2028, citing expectations that 2025 demand drivers will remain in place in 2026, alongside heightened geopolitical uncertainty, pressure on the U.S. dollar, and one to two rate cuts in 2026.

Fortuna Mining Corp. (NYSE:FSM) is engaged in precious and base metal mining with operations in Argentina, Burkina Faso, Côte d’Ivoire, Mexico, Peru, and Senegal. The company operates through Mansfield, Sanu, Sango, Cuzcatlan, and Bateas segments. It operates the Lindero gold mine, the Yaramoko gold mine, the Séguéla gold mine, and the San Jose silver-gold mine, as well as the Caylloma silver, lead, and zinc mine.

2. Franco-Nevada Corporation (NYSE:FNV)

Potential upside: 21.29%

Number of Hedge Fund Holders: 39

On February 4, 2026, CIBC raised its price target on Franco-Nevada Corporation (NYSE:FNV) to C$480 from C$460 and reiterated an Outperformer rating. The firm lifted targets across its precious metals coverage after raising its gold price forecast to $6,000 per ounce in 2026 and $6,500 in 2027, while also increasing copper assumptions. CIBC said the same demand drivers that supported the sector in 2025 remain in place for 2026, with heightened geopolitical uncertainty adding further support.

Other firms adjusted their views earlier in the year as part of broader sector updates. On January 30, 2026, UBS raised its price target on Franco-Nevada Corporation (NYSE:FNV) to $310 from $270 and maintained a Buy rating. Earlier, on January 26, 2026, Scotiabank lifted its price target to $283 from $225 while keeping a Sector Perform rating, citing higher gold and silver price forecasts supported by economic and geopolitical uncertainty and continued central bank buying.

Franco-Nevada Corporation (NYSE:FNV) operates a global royalty and streaming portfolio with a primary focus on precious metals, including gold and silver, alongside exposure to other mining assets and energy-related interests across the Americas, Australia, Europe, and other regions.

1. Endeavour Silver Corp. (NYSE:EXK)

Potential upside: 23.06%

Number of Hedge Fund Holders: 18

On February 4, 2026, CIBC raised its price target on Endeavour Silver Corp. (NYSE:EXK) to C$25 from C$20 and kept an Outperformer rating. The move came as part of a broader update across the precious metals group after the firm raised its gold price forecasts to $6,000 per ounce in 2026 and $6,500 in 2027, while also lifting copper assumptions. CIBC said the same demand drivers seen in 2025 are expected to remain in place in 2026, though geopolitical uncertainty remains elevated.

On January 19, 2026, BMO Capital analyst Kevin O’Halloran raised his price target on Endeavour Silver Corp. (NYSE:EXK) to C$17 from C$15.50 and kept an Outperform rating, even as the firm described the company’s 2026 guidance as “broadly negative,” citing production below forecast and higher costs. Earlier, on January 16, 2026, the company guided to 2026 silver production of 8.3 million to 8.9 million ounces from Terronera, Guanacevi, and Kolpa, with gold output of 46,000 to 48,000 ounces from Terronera and Guanacevi. Kolpa is expected to contribute 22,000 to 24,000 tonnes of lead, 16,000 to 18,000 tonnes of zinc, and 650 to 750 tonnes of copper, with the three mines together forecast to deliver 14.6 million to 15.6 million silver equivalent ounces.

Endeavour Silver Corp. (NYSE:EXK) is a silver-focused miner with operations spanning Mexico, Chile, Peru, and the United States, producing silver, gold, and a mix of base metals.

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