In this article, we will list the 5 Best Commodity Stocks to Buy for the Supercycle. Please visit 10 Best Commodity Stocks to Buy for the Supercycle if you would like to see the extended list and the methodology behind it.
5. Royal Gold, Inc. (NASDAQ:RGLD)
Number of Hedge Fund Holders: 39
Royal Gold, Inc. (NASDAQ:RGLD) is one of the best commodity stocks to buy for the supercycle. BofA cut the price target on Royal Gold, Inc. (NASDAQ:RGLD) to $245 from $246 on May 19, reiterating an Underperform rating on the shares. The rating came after SSR Mining Inc. (NASDAQ:SSRM) announced a definitive agreement with Lidya Mines of Turkiye to sell its 20% ownership stake and operatorship position in the Hod Maden project, with Royal Gold, Inc. (NASDAQ:RGLD) concurrently announcing plans to reduce its ownership in Hod Maden to 15% from 30%.
In its financial and operating results for fiscal Q1 2026, Royal Gold, Inc. (NASDAQ:RGLD) reported record revenue of $469.1 million compared to $193.4 million in the prior year period. Management clarified that the revenue split by commodity was 71% gold, 16% silver, and 10% copper. The company also reported record operating cash flow of $293.6 million in the quarter, along with record net income of $281.1 million ($3.30 per share), and adjusted net income of $232.9 million ($2.72 per share).
Royal Gold, Inc. (NASDAQ:RGLD) is involved in the acquisition and management of precious metal streams, royalties, and similar interests. Its operations are divided into the Acquisition and Management of Stream Interests and the Acquisition and Management of Royalty Interests segments.
4. Kinross Gold Corporation (NYSE:KGC)
Number of Hedge Fund Holders: 40
Kinross Gold Corporation (NYSE:KGC) is one of the best commodity stocks to buy for the supercycle. Kinross Gold Corporation (NYSE:KGC) was upgraded to Buy from Hold by Freedom Broker on May 18, with the firm adjusting the price target on the stock to $38 from $13.50. It told investors in a research note that Kinross Gold Corporation (NYSE:KGC) reported a “clean, high-quality beat” in fiscal Q1, adding that Great Bear is the “most important unpriced option” in the company’s portfolio.
For reference, in its financial results for fiscal Q1 2026, Kinross Gold Corporation (NYSE:KGC) reported that production in the quarter reached 492,563 gold equivalent ounces (Au eq. oz.). Production cost of sales was $1,397 per Au eq. oz. sold, with attributable production cost of sales of $1,380 per Au eq. oz. sold.
Kinross Gold Corporation (NYSE:KGC) also stated that it is on track to meet its annual guidance and expects to produce 2.0 million Au eq. oz. (+/- 5%) at a production cost of sales per Au eq. oz. sold of $1,360 (+/- 5%) and all-in sustaining cost of $1,730 (+/- 5%) per ounce sold for 2026. It also stated that the total attributable capital expenditures are forecast to be $1,500 million (+/- 5%).
Based in Canada, Kinross Gold Corporation (NYSE:KGC) is involved in the production, exploration, acquisition, and development of gold properties. Its operations are divided into the following business segments: Tasiast, Paracatu, La Coipa, Fort Knox, Round Mountain, Bald Mountain, and Corporate & Other.
3. Shell plc (NYSE:SHEL)
Number of Hedge Fund Holders: 43
Shell plc (NYSE:SHEL) is one of the best commodity stocks to buy for the supercycle. Berenberg cut the price target on Shell plc (NYSE:SHEL) to EUR 46 from EUR 47 on May 12, maintaining a Buy rating on the shares. The rating update came after the company announced financial results for fiscal Q1 2026, reporting that adjusted earnings for the quarter reached $6.9 billion, reflecting solid business performance. CFFO excluding working capital was $17.2 billion for the quarter, with a working capital outflow of $11.2 billion in the quarter, which reflects the impact of unprecedented volatility in commodity prices.
The company’s cash capex outlook for 2026 is in the $24 – $26 billion range, which includes ~$4 billion for the ARC acquisition. Shell plc’s (NYSE:SHEL) 2027 – 2028 outlook remains unchanged at $20 – $22 billion, adding that the ARC Resources acquisition is expected to add 370 kboe/d, leading to a 4% production CAGR through to 2030 (from 2025). Shell plc (NYSE:SHEL) is also commencing a $3.0 billion share buyback program for the next 3 months, along with a 5% increase in the dividend to $0.3906.
Headquartered in London, Shell plc (NYSE:SHEL) produces oil and natural gas. The company’s operations are divided into the following segments: Integrated Gas, Upstream, Marketing, Chemicals and Products, Renewables and Energy Solutions, and Corporate.
2. Cenovus Energy Inc. (NYSE:CVE)
Number of Hedge Fund Holders: 46
Cenovus Energy Inc. (NYSE:CVE) is one of the best commodity stocks to buy for the supercycle. RBC Capital lifted the price target on Cenovus Energy Inc. (NYSE:CVE) to C$47 from C$45 on May 19 and maintained an Outperform rating on the shares. The rating update came after the company announced its fiscal Q1 2026 financial and operating results, stating that the company generated around $3.4 billion of adjusted funds flow and $2.2 billion of free funds flow.
Management further said that the quarter’s operating results included Upstream production of 972,100 barrels of oil equivalent per day and Downstream crude throughput of 458,500 barrels per day, which represents an overall crude unit utilization rate of 97%. The company accelerated the redevelopment well program at Christina Lake North as well. Cenovus Energy Inc. (NYSE:CVE) also reported that the Board of Directors approved a 10% increase in the quarterly base dividend to $0.22 per share, starting in fiscal Q2 2026.
Based in Canada, Cenovus Energy Inc. (NYSE:CVE) is an integrated energy company that provides gas and oil. Its operations are divided into the Upstream, Downstream, and Corporate and Eliminations segments.
1. Freeport-McMoRan Inc (NYSE:FCX)
Number of Hedge Fund Holders: 91
Freeport-McMoRan Inc (NYSE:FCX) is one of the best commodity stocks to buy for the supercycle. Deutsche Bank lifted the price target on Freeport-McMoRan Inc (NYSE:FCX) to $72 from $58 on May 15, maintaining a Buy rating on the shares. In its operating results for fiscal Q1 2026, Freeport-McMoRan Inc (NYSE:FCX) reported that consolidated copper and gold sales surpassed January 2026 estimates, and consolidated average unit net cash costs were favorable to January 2026 estimates. Consolidated production totaled 662 million pounds of copper, 97 thousand ounces of gold, and 22 million pounds of molybdenum in the quarter. Management further stated that consolidated sales totaled 657 million pounds of copper, 121 thousand ounces of gold, and 24 million pounds of molybdenum.
Freeport-McMoRan Inc (NYSE:FCX) also reported that net income attributable to common stock in fiscal Q1 2026 totaled $881 million, $0.61 per share, and adjusted net income attributable to common stock totaled $830 million, $0.57 per share. For the year 2026, the company expects consolidated sales to be approximately 3.1 billion pounds of copper, 650 thousand ounces of gold, and 90 million pounds of molybdenum.
Freeport-McMoRan Inc (NYSE:FCX) mines gold, copper, and molybdenum. The company’s operations are divided into the following segments: U.S. Copper Mines, South America Operations, Indonesia Operations, Molybdenum Mines, U.S. Rod and Refining, Atlantic Copper, and Corporate and Other.
While we acknowledge the potential of FCX 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 FCX and that has 100x upside potential, check out our report about the cheapest AI stock.
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