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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 &...
Ticker
Company
Zen Score
Valuation Score
Financials Score
Forecast Score
Performance Score
Dividends Score
RIO
RIO TINTO LTD
57
71
57
44
30
80
VALE
VALE SA
56
71
57
11
60
80
GSM
FERROGLOBE PLC
44
71
71
56
20
0
BHP
BHP GROUP LTD
41
29
43
56
20
60
LAAC
LITHIUM AMERICAS (ARGENTINA) CORP
40
29
57
44
30

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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 Mar 2024?

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

1. Rio Tinto (NYSE:RIO)


Rio Tinto (NYSE:RIO) is the top mining stock with a Zen Score of 57, which is 36 points higher than the mining industry average of 21. It passed 20 out of 38 due diligence checks and has strong fundamentals. Rio Tinto has seen its stock lose -3.51% over the past year, overperforming other mining stocks by 22 percentage points.

2. Vale Sa (NYSE:VALE)


Vale Sa (NYSE:VALE) is the second best mining stock with a Zen Score of 56, which is 35 points higher than the mining industry average of 21. It passed 20 out of 38 due diligence checks and has strong fundamentals. Vale Sa has seen its stock lose -20.22% over the past year, overperforming other mining stocks by 5 percentage points.

Vale Sa has an average 1 year price target of $17.14, an upside of 40.63% from Vale Sa's current stock price of $12.19.

Vale Sa stock has a consensus Buy recommendation according to Wall Street analysts. Of the 7 analysts covering Vale Sa, 42.86% have issued a Strong Buy rating, 28.57% have issued a Buy, 28.57% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

3. Ferroglobe (NASDAQ:GSM)


Ferroglobe (NASDAQ:GSM) is the third best mining stock with a Zen Score of 44, which is 23 points higher than the mining industry average of 21. It passed 17 out of 38 due diligence checks and has strong fundamentals. Ferroglobe has seen its stock return 7.79% over the past year, overperforming other mining stocks by 33 percentage points.

What are the mining stocks with highest dividends?

Out of 8 mining stocks that have issued dividends in the past year, the 3 mining stocks with the highest dividend yields are:

1. Nexa Resources Sa (NYSE:NEXA)


Nexa Resources Sa (NYSE:NEXA) has an annual dividend yield of N/A, which is N/A percentage points lower than the mining industry average of 4.16%. Nexa Resources Sa's dividend payout is not stable, having dropped more than 10% three times in the last 10 years. Nexa Resources Sa's dividend has not shown consistent growth over the last 10 years.

Nexa Resources Sa's dividend payout ratio of 0% indicates that its dividend yield might not be sustainable for the long-term.

2. Vale Sa (NYSE:VALE)


Vale Sa (NYSE:VALE) has an annual dividend yield of 11.7%, which is 8 percentage points higher than the mining industry average of 4.16%. 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 27.1% indicates that its high dividend yield is sustainable for the long-term.

3. Rio Tinto (NYSE:RIO)


Rio Tinto (NYSE:RIO) has an annual dividend yield of 6.82%, which is 3 percentage points higher than the mining industry average of 4.16%. Rio Tinto's dividend payout is not stable, having dropped more than 10% eleven 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.

Why are mining stocks down?

Mining stocks were down -0.67% in the last day, and down -1.7% over the last week. Materion was the among the top losers in the other industrial metals & mining industry, dropping -5.22% yesterday.

Materion shares are trading lower after the company said it expects value-added sales for the first quarter will be roughly 10% below prior expectations.

What are the most undervalued mining stocks?

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

1. Fury Gold Mines (NYSEMKT:FURY)


Fury Gold Mines (NYSEMKT:FURY) is the most undervalued mining stock based on WallStreetZen's Valuation Score. Fury Gold Mines has a valuation score of 71, which is 54 points higher than the mining industry average of 17. It passed 5 out of 7 valuation due diligence checks.

Fury Gold Mines's stock has dropped -22.22% in the past year. It has overperformed other stocks in the mining industry by 3 percentage points.

2. Ferroglobe (NASDAQ:GSM)


Ferroglobe (NASDAQ:GSM) is the second most undervalued mining stock based on WallStreetZen's Valuation Score. Ferroglobe has a valuation score of 71, which is 54 points higher than the mining industry average of 17. It passed 5 out of 7 valuation due diligence checks.

Ferroglobe's stock has gained 7.79% in the past year. It has overperformed other stocks in the mining industry by 33 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 54 points higher than the mining industry average of 17. It passed 5 out of 7 valuation due diligence checks.

Rio Tinto's stock has dropped -3.51% in the past year. It has overperformed other stocks in the mining industry by 22 percentage points.

Are mining stocks a good buy now?

63.64% of mining stocks rated by analysts are a buy right now. On average, analysts expect mining stocks to rise by 46.54% 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 12.59x.
WallStreetZen does not provide financial advice and does not issue recommendations or offers to buy stock or sell any security.

Information is provided 'as-is' and solely for informational purposes and is not advice. WallStreetZen does not bear any responsibility for any losses or damage that may occur as a result of reliance on this data.