Top 3 Picks
2026 Outlook
For 2026, the sector outlook remains constructive as EV penetration and grid modernization are projected to lift mineral demand, with copper and rare earth prices supported by structural deficits. Companies with U.S.-based assets and exposure to high-score leaders like NB and USAR stand to benefit most from policy tailwinds amid ongoing commodity volatility.
Complete Rankings
| Rank | Stock | Score | Price | Market Cap |
|---|---|---|---|---|
|
1
|
NioCorp Developments Ltd. Common Stock
|
68.0 | $4.13 | $635M |
|
2
|
USA Rare Earth, Inc. Class A Common Stock
|
57.1 | $17.61 | $2.1B |
|
3
|
Cleveland-Cliffs Inc.
|
54.3 | $12.50 | $6.2B |
|
4
|
Lithium Americas Corp.
|
53.2 | $3.00 | $1.7B |
|
5
|
Dakota Gold Corp.
|
50.1 | $5.95 | $525M |
|
6
|
MP Materials Corp.
|
47.7 | $54.53 | $12.0B |
|
7
|
Freeport-McMoran Inc.
|
46.4 | $72.73 | $56.1B |
|
8
|
TMC the metals company Inc. Common Stock
|
43.0 | $4.44 | $2.8B |
|
9
|
Southern Copper Corporation
|
42.1 | $198.76 | $99.6B |
|
10
|
Ivanhoe Electric Inc.
|
38.7 | $9.99 | $1.6B |
In-Depth Analysis: Top Mining Stocks
NB
NioCorp Developments Ltd is engaged in exploration and development of mineral deposits in North America, specifically, the Elk Creek Niobium/Scandium/Titanium property.
NioCorp Developments Ltd. is advancing the Elk Creek project in Nebraska, targeting niobium, scandium, and titanium deposits that support North American supply chains for steel alloys, aerospace components, and defense materials.
The -24.5% ROE reflects ongoing pre-revenue losses typical of mineral development-stage firms, while the 68.0/100 Tradestie Score indicates moderate operational positioning amid high exploration and permitting costs.
By 2026, advancement of the Elk Creek Niobium/Scandium/Titanium property could position NB for production ramp-up as demand grows for these critical minerals in EV and renewable sectors. The 68.0/100 Tradestie Score highlights baseline strengths that may support valuation gains once permitting and financing milestones are cleared. North American sourcing preferences provide a structural tailwind for project economics.
USAR
USA Rare Earth Inc is a vertically integrated, domestic rare earth magnet supply chain that supports the state of energy, mobility, and national security in the United States. USARE is developing an NdFeB magnet manufacturing plant in the United States, and establishing domestic rare earth and critical minerals supply, extraction, and processing capabilities to both supply its manufacturing plant and …
USA Rare Earth Inc is developing a vertically integrated U.S. rare earth magnet supply chain, including an NdFeB manufacturing plant, to support domestic energy, mobility, and national security needs in the Mining sector.
The company's ROE of -23.6% signals ongoing losses and negative returns on equity, consistent with capital-intensive development of mining and processing assets.
USAR could attract 2026 investment as U.S. policy prioritizes domestic rare earth production to reduce import dependence. Vertical integration from mining to magnets positions the firm to capture value in growing EV and defense demand. The 57.1/100 Tradestie Score indicates baseline market visibility that may rise with plant milestones and supply contracts.
CLF
Cleveland-Cliffs Inc is a flat-rolled steel producer and manufacturer of iron ore pellets in North America. It is organized into four operating segments based on differentiated products, Steelmaking, Tubular, Tooling and Stamping and European Operations, but operates through one reportable segment -Steelmaking. It is vertically integrated from mined raw materials, direct reduced iron, and ferrous scrap to primary steelmaking and …
Cleveland-Cliffs Inc. is North America's largest iron ore pellet producer and a leading flat-rolled steel manufacturer, supplying critical inputs for automotive, infrastructure, and manufacturing supply chains through its integrated Steelmaking segment.
With a -4.6% profit margin and -13.9% ROE, the company remains unprofitable despite 5.9% revenue growth, reflecting margin pressure from high input costs and steelmaking segment operations that have not yet translated top-line gains into shareholder returns.
CLF offers upside for 2026 investors as U.S. infrastructure and manufacturing reshoring accelerate steel demand, potentially lifting margins above current negative levels; vertical integration in iron ore pellets provides cost stability amid commodity cycles; the 54.3/100 Tradestie Score leaves room for re-rating if revenue growth sustains above 5.9% and ROE turns positive.
LAC
Lithium Americas is a pure-play lithium producer. The firm owns 62% of one resource, Thacker Pass, which is located in northwest Nevada, with automaker General Motors owning the remaining 38%. Thacker Pass is under construction and expected to begin production in 2028. Thacker Pass is one of the largest known lithium resources in the world. The project would be the …
Lithium Americas holds a 62% interest in Thacker Pass, one of North America's largest undeveloped lithium resources, making it a pivotal pure-play supplier for US battery-grade lithium amid EV supply chain localization.
Negative ROE of -3.7% reflects pre-production losses and construction costs at Thacker Pass, while 8.1% revenue growth signals limited current operations with financial health dependent on lithium prices and project execution through 2028.
By 2026, Thacker Pass construction progress and GM's 38% stake position LAC for production ramp-up, potentially unlocking margins in a market with projected lithium demand growth from automakers. US domestic sourcing incentives could further support valuation as the asset transitions from development to cash flow generation.
DC
Dakota Gold Corp is a gold exploration and development company with a specific focus on revitalizing the Homestake District in Lead, South Dakota. Dakota Gold has high-caliber gold mineral properties covering over 48 thousand acres surrounding the historic Homestake Mine. Company project includes Richmond Hill Project.
Dakota Gold Corp. matters in the Mining sector through its ownership of over 48,000 acres surrounding the historic Homestake Mine, enabling focused gold exploration in a proven district with established infrastructure.
A ROE of -23.4% reflects persistent operating losses typical of pre-production exploration companies, while the Tradestie Score of 50.1/100 indicates average market positioning amid heavy reliance on equity financing for project advancement.
Rising gold prices in 2026 could accelerate resource expansion across Dakota Gold's large acreage position, potentially converting exploration targets into defined ounces and lifting the Tradestie Score above 50.1/100. Successful drill results from the Homestake District revitalization may attract development partnerships, improving financial metrics from the current -23.4% ROE baseline.
MP
MP Materials Corp is the producer of rare earth materials in the Western Hemisphere. The company owns and operates the Mountain Pass Rare Earth Mine and Processing Facility, the only rare earth mining and processing site of scale in North America. The company is also developing a rare earth metal, alloy, and magnet manufacturing facility in Fort Worth, Texas. The …
MP Materials Corp. operates the only scaled rare earth mining and processing facility in North America at Mountain Pass, supplying critical materials for EVs, renewables, and defense amid efforts to diversify supply chains away from China.
Revenue growth of 119.7% reflects rapid capacity expansion, yet the -14.6% profit margin and -3.6% ROE indicate current losses driven by high operating costs and investments in downstream metal processing.
By 2026, rising demand for rare earth magnets in EVs and wind turbines could enable MP to achieve positive margins through vertical integration and higher throughput; U.S. policy incentives for domestic production may accelerate ROE recovery and market share gains against Chinese competitors, supporting valuation upside from the current 47.7 Tradestie Score.
FCX
Freeport-McMoRan owns stakes in 10 copper mines, led by its 49% ownership of the Grasberg copper and gold operations in Indonesia, 55% of the Cerro Verde mine in Peru, and 72% of Morenci in Arizona. It sold around 1.2 million metric tons of copper (its share) in 2024, making it the one of the world's largest copper miners by volume. …
Freeport-McMoRan ranks among the world's largest copper producers through its 49% stake in Grasberg (Indonesia), 55% in Cerro Verde (Peru), and 72% in Morenci (Arizona), with 1.2 million metric tons of copper sold in 2024 across 10 mines.
The company posted an 11.4% profit margin and 14.8% ROE, reflecting efficient operations and returns on equity, offset by -7.3% revenue contraction and a 35.6 P/E ratio indicating stretched valuation relative to near-term growth.
FCX offers leveraged exposure to structural copper demand growth from electrification and renewables through 2026, supported by its low-cost, long-life assets in Indonesia, Peru, and Arizona that can scale output. The 14.8% ROE provides a base for margin expansion if copper prices rise above current levels, while the 46.4/100 Tradestie Score leaves room for re-rating as revenue stabilizes. At 1.2 million metric tons of annual copper sales, production volume positions the stock for earnings upside in a tightening supply environment.
TMC
TMC The Metals Co Inc is a deep-sea minerals exploration company focused on the collection, processing, and refining of polymetallic nodules found on the seafloor in international waters of the Clarion Clipperton Zone (CCZ). Polymetallic nodules are discrete rocks that sit unattached to the seafloor, occur in notable quantities in the CCZ, and have high concentrations of nickel, copper, cobalt, …
TMC is developing the first commercial-scale collection of polymetallic nodules from the CCZ, targeting nickel, cobalt, and manganese grades that exceed many terrestrial deposits and directly supply EV battery and renewable energy supply chains.
ROE of -1123.2% reflects extreme losses relative to equity, driven by ongoing exploration and permitting expenditures with no current revenue, signaling weak financial health and high cash burn in a pre-production phase.
Regulatory approval for nodule collection in 2026 could enable first revenue from battery metals amid rising EV demand, positioning TMC as a lower-impact alternative to land-based miners. The Tradestie Score of 43.0/100 leaves room for re-rating on production milestones. Early mover status in seafloor resources offers potential supply diversification away from concentrated terrestrial sources.
SCCO
Southern Copper Corp is an integrated producer of copper and other minerals and operates the mining, smelting, and refining facilities in Peru and Mexico. Its production includes copper, molybdenum, zinc, and silver. The company operates through the following segments: Peruvian operations, Mexican open-pit operations, and Mexican underground mining operations. It generates the majority of its revenue from the sale of …
Southern Copper Corporation ranks among the largest integrated copper producers globally, with major mining, smelting, and refining operations in Peru and Mexico that supply copper, molybdenum, zinc, and silver to industrial markets. Its output directly supports electrification and infrastructure demand in the Mining sector.
SCCO delivers a 35.9% profit margin and 49.9% ROE, reflecting superior cost control and capital efficiency across its Peruvian and Mexican segments. Revenue growth of 40.6% further confirms strong operational leverage, offset by a 30.7 P/E that prices in sustained earnings power.
SCCO offers leveraged exposure to structural copper demand growth through 2026 from EV adoption and grid upgrades, backed by its 35.9% margins and 40.6% revenue expansion. The 49.9% ROE signals efficient reinvestment potential that can compound returns as metal prices remain elevated. At a 30.7 P/E, the stock provides a reasonable entry for investors targeting volume and pricing upside in the Mexican and Peruvian operations.
IE
Ivanhoe Electric Inc is a United States-based d minerals exploration company with a focus on developing mines from mineral deposits principally located in the United States. The company has four business segments; Santa Cruz Project; critical metals; data processing services; and energy storage. It derives a majority of its revenue from Canada. The Santa Cruz Project and critical metals segments …
Ivanhoe Electric Inc. matters in the Mining sector as a US-focused explorer developing the Santa Cruz Project and critical metals deposits, supporting domestic supply chains for minerals essential to technology and energy infrastructure.
Ivanhoe Electric Inc. shows weak financial health with an ROE of -1.4% and revenue growth of -32.2%, reflecting ongoing losses and contraction across its Santa Cruz, critical metals, data processing, and energy storage segments.
Investors should consider IE in 2026 for its positioning in critical metals and energy storage, where rising US demand could accelerate Santa Cruz Project development and reverse the current revenue decline. The company's four-segment structure offers diversification that may improve margins as mineral prices stabilize, potentially lifting ROE from -1.4%. With a Tradestie Score of 38.7/100 indicating room for recovery, early entry could capture upside from project milestones by 2026.
Methodology
Stocks are ranked using the Tradestie Score, a proprietary 0-100 rating that combines fundamental quality (profitability, balance sheet strength), growth metrics (revenue and earnings growth), valuation (P/E, PEG ratio), and momentum factors. Scores are updated daily based on the latest market data. Learn more about our methodology.