7 Best Metal And Mining Stocks To Buy


Commodity prices have soared so far in 2022 as the combination of U.S. dollar inflation, stock market instability, supply chain disruptions and geopolitical conflict has driven demand for gold, silver, copper and other metals.

Gold and other precious metals serve as both an inflation hedge and a flight-to-safety investment, while copper and silver are both heavily used in the industrial sector and can be used as a measure of the rebound in U.S. economic activity following the pandemic. Rising metal prices are good news for mining stocks.

Here are seven of Bank of America's top metal and mining stocks to buy.

Newmont Corporation (NYSE: NEM)
Newmont is the world's largest gold producer, but it also produces copper as well.

Analyst Michael Jalonen says Newmont has a proven corporate strategy of managing a portfolio of long-life assets in top-tier jurisdictions, maintaining a strong balance sheet, reinvesting in its business and providing capital returns for shareholders. Newmont has a strong free cash flow growth forecast, and Jalonene says it is building out a sustainable business. Newmont is targeting an impressive six million ounces of gold production per year by 2030.

Bank of America has a Buy rating and $75 price target for NEM stock.

Agnico Eagle Mines Ltd (NYSE: AEM)
Agnico Eagle Mines is a senior gold miner operating multiple mines in Canada, Finland, Australia and Mexico.

Jalonen says Agnico is an excellent low-risk gold mining stock for investors given its quality business. Agnico has a high-quality asset base and is forecasting 3.18 million oz of gold production in 2022 and …

Full story available on Benzinga.com