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.
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).
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.
