BofA reveals its three favorite stocks in the booming metals industry

Metals and Mining Stocks Surge Amid Market Rally

• Prices for both precious and industrial metals soared in 2025, boosting mining company shares.
• Government initiatives to increase domestic sourcing of essential materials have provided strong support for the industry.
• Bank of America analysts have identified three lesser-known mining stocks with promising prospects.

Mining and metals stocks have captured investor attention following a remarkable upswing in metal prices over the past year. Bank of America has highlighted three standout stocks for those seeking to benefit from this momentum.

With Donald Trump returning to the presidency, there is renewed emphasis on strengthening domestic mining and securing vital mineral supplies in the United States. Bank of America anticipates that the mining and metals sector will continue to expand through 2026.

Lawson Winder, an analyst at Bank of America, predicts that the same factors fueling the 2025 growth in precious and industrial metals will persist into the following year. These drivers include supportive industrial policies, increased global uncertainty, a weakening dollar, and additional tariff measures.

Winder remains especially optimistic about large-cap mining firms. While precious metals remain the bank’s preferred segment, his team is also closely monitoring companies involved in nuclear energy materials and copper extraction.

Bank of America’s Top Mining Stock Picks for 2026

Agnico Eagle Mines

12-Month Return: +130%
Agnico stands among the leading global gold producers. Bank of America ranks it as the top choice for precious metals, citing its robust project pipeline and the potential for new gold discoveries. Winder also highlights the company’s consistent record of meeting or surpassing its goals.

Cameco Corporation

12-Month Gain: +123%
Bank of America’s preferred uranium miner, Cameco, is seen as an undervalued opportunity in a rapidly expanding sector. Winder points to the company’s broad involvement across nuclear energy and fuel supply chains, and anticipates a strong rebound in uranium prices in the second half of 2026, making the stock attractively priced.

Freeport-McMoRan

12-Month Gain: +50%
With copper demand projected to climb—driven in part by the growth of artificial intelligence and data centers—Bank of America considers Freeport-McMoRan the top pick for exposure to this industrial metal’s continued ascent. Winder believes the current valuation offers an appealing entry point and notes that the company also provides investors with exposure to gold mining.

The analyst further notes that Bank of America expects a key factor to continue propelling the metals and mining sector forward into 2026, reinforcing their positive outlook.

“A recurring theme over the past four years that we expect to persist—and potentially intensify—is the rise in geopolitical tensions,” Winder explains. “For the metals and mining industry, this has been especially significant through the implementation of import/export restrictions and tariffs.”