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Best Mining Stocks to Buy Now (2024)
Top mining stocks in 2024 ranked by overall Zen Score. See the best mining stocks to buy now, according to analyst forecasts for the other industrial metals & mining industry.

Industry: Other Industrial Metals &...
OverviewZen Score
PriceValuationFinancialsForecastEarnings & RevenueDividendsOwnershipTechnicals
Ticker
Company
Zen Score
Valuation Score
Financials Score
Forecast Score
Performance Score
Dividends Score
VALE
VALE SA
60
71
43
56
50
80
RIO
RIO TINTO LTD
54
71
57
33
30
80
LAAC
LITHIUM AMERICAS (ARGENTINA) CORP
47
43
71
44
30
–
BHP
BHP GROUP LTD
46
43
43
56
30
60
GSM
FERROGLOBE PLC
43
71
57
56
10
20

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Use Zen Score to quickly analyze stock fundamentals, even if you don't have a finance background. We run time-tested due diligence checks inspired by legendary investors like Warren Buffett, and score each company based on how many they pass/fail.

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Mining Stocks FAQ

What are the best mining stocks to buy right now in May 2024?

According to Zen Score, the 3 best mining stocks to buy right now are:

1. Vale Sa (NYSE:VALE)


Vale Sa (NYSE:VALE) is the top mining stock with a Zen Score of 60, which is 39 points higher than the mining industry average of 21. It passed 22 out of 38 due diligence checks and has strong fundamentals. Vale Sa has seen its stock lose -7.52% over the past year, overperforming other mining stocks by 14 percentage points.

Vale Sa has an average 1 year price target of $17.00, an upside of 34.28% from Vale Sa's current stock price of $12.66.

Vale Sa stock has a consensus Strong Buy recommendation according to Wall Street analysts. Of the 7 analysts covering Vale Sa, 57.14% have issued a Strong Buy rating, 14.29% have issued a Buy, 28.57% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

2. Rio Tinto (NYSE:RIO)


Rio Tinto (NYSE:RIO) is the second best mining stock with a Zen Score of 54, which is 33 points higher than the mining industry average of 21. It passed 19 out of 38 due diligence checks and has strong fundamentals. Rio Tinto has seen its stock return 17.1% over the past year, overperforming other mining stocks by 38 percentage points.

3. Lithium Americas (Argentina) (NYSE:LAAC)


Lithium Americas (Argentina) (NYSE:LAAC) is the third best mining stock with a Zen Score of 47, which is 26 points higher than the mining industry average of 21. It passed 15 out of 33 due diligence checks and has strong fundamentals. Lithium Americas (Argentina) has seen its stock lose -77.96% over the past year, underperforming other mining stocks by -57 percentage points.

Lithium Americas (Argentina) has an average 1 year price target of $7.17, an upside of 46.56% from Lithium Americas (Argentina)'s current stock price of $4.89.

Lithium Americas (Argentina) stock has a consensus Hold recommendation according to Wall Street analysts. Of the 3 analysts covering Lithium Americas (Argentina), 0% have issued a Strong Buy rating, 33.33% have issued a Buy, 66.67% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

What are the mining stocks with highest dividends?

Out of 7 mining stocks that have issued dividends in the past year, the 3 mining stocks with the highest dividend yields are:

1. Vale Sa (NYSE:VALE)


Vale Sa (NYSE:VALE) has an annual dividend yield of 11.27%, which is 7 percentage points higher than the mining industry average of 4.08%. Vale Sa's dividend payout is not stable, having dropped more than 10% eight times in the last 10 years. Vale Sa's dividend has shown consistent growth over the last 10 years.

Vale Sa's dividend payout ratio of 78% indicates that its high dividend yield is sustainable for the long-term.

2. Rio Tinto (NYSE:RIO)


Rio Tinto (NYSE:RIO) has an annual dividend yield of 6.05%, which is 2 percentage points higher than the mining industry average of 4.08%. Rio Tinto's dividend payout is not stable, having dropped more than 10% ten times in the last 10 years. Rio Tinto's dividend has shown consistent growth over the last 10 years.

Rio Tinto's dividend payout ratio of 64.8% indicates that its high dividend yield is sustainable for the long-term.

3. Bhp Group (NYSE:BHP)


Bhp Group (NYSE:BHP) has an annual dividend yield of 5.06%, which is 1 percentage points higher than the mining industry average of 4.08%. Bhp Group's dividend payout is not stable, having dropped more than 10% eight times in the last 10 years. Bhp Group's dividend has shown consistent growth over the last 10 years.

Bhp Group's dividend payout ratio of 116.4% indicates that its high dividend yield might not be sustainable for the long-term.

Why are mining stocks up?

Mining stocks were up 0.88% in the last day, and up 2.66% over the last week.

We couldn't find a catalyst for why mining stocks are up.

What are the most undervalued mining stocks?

Based on WallStreetZen's Valuation Score, the 3 most undervalued mining stocks right now are:

1. Ferroglobe (NASDAQ:GSM)


Ferroglobe (NASDAQ:GSM) is the most undervalued mining stock based on WallStreetZen's Valuation Score. Ferroglobe has a valuation score of 71, which is 56 points higher than the mining industry average of 15. It passed 5 out of 7 valuation due diligence checks.

Ferroglobe's stock has gained 34.69% in the past year. It has overperformed other stocks in the mining industry by 56 percentage points.

2. Vale Sa (NYSE:VALE)


Vale Sa (NYSE:VALE) is the second most undervalued mining stock based on WallStreetZen's Valuation Score. Vale Sa has a valuation score of 71, which is 56 points higher than the mining industry average of 15. It passed 5 out of 7 valuation due diligence checks.

Vale Sa's stock has dropped -7.52% in the past year. It has overperformed other stocks in the mining industry by 14 percentage points.

3. Rio Tinto (NYSE:RIO)


Rio Tinto (NYSE:RIO) is the third most undervalued mining stock based on WallStreetZen's Valuation Score. Rio Tinto has a valuation score of 71, which is 56 points higher than the mining industry average of 15. It passed 5 out of 7 valuation due diligence checks.

Rio Tinto's stock has gained 17.1% in the past year. It has overperformed other stocks in the mining industry by 38 percentage points.

Are mining stocks a good buy now?

54.55% of mining stocks rated by analysts are a buy right now. On average, analysts expect mining stocks to rise by 50.27% over the next year.

What is the average p/e ratio of the other industrial metals & mining industry?

The average P/E ratio of the other industrial metals & mining industry is 21.5x.
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