Based on key financial metrics such as the price-to-sales ratio, shareholder yield and the price-earnings ratio, the following 5 stocks made the list for top value stocks in the Metals & Mining industry. Those looking for value stocks to add to their portfolio may want to use this list as a starting point for further investment research.

Why Focus on Undervalued Metals & Mining Stocks?

Value investors seek to buy stocks at a discount to their intrinsic value. Long-term returns show that such strategies are advantageous. Value stocks, as a group, tend to outperform growth stocks over extended periods of time. Typically, value investors perform financial analysis of numerous metrics, don’t follow the herd and are long-term investors.

AAII’s A+ Investor Value Grade is derived from a stock’s Value Score. The Value Score is the percentile rank of the average of the percentile ranks of the price-to-sales ratio, price-earnings ratio, enterprise-value-to-EBITDA (EV/EBITDA) ratio, shareholder yield, price-to-book-value ratio and price-to-free-cash-flow ratio. The score is variable, meaning it can consider all six ratios or, should any of the six ratios not be valid, the remaining ratios that are valid. To be assigned a Value Score, stocks must have a valid (non-null) ratio and corresponding ranking for at least two of the six valuation ratios.

What Goes Into AAII’s Value Grade?

Stock evaluation requires access to huge amounts of data as well as the knowledge and time to sift through it all, make sense of financial ratios, read income statements and analyze recent stock movement. AAII created A+ Investor, a robust data suite that condenses data research in an actionable and customizable way suitable for investors of all knowledge levels, to help investors with that task.

AAII’s proprietary stock grades come with A+ Investor. These offer intuitive A–F grades for more than just value. It is possible for a stock to appear cheap based on one valuation metric but appear expensive on another. It is also possible for one valuation ratio to be associated with outperforming stocks during certain periods of time but not others. Some stocks may even have null values for certain metrics like the price-earnings ratio or the price-to-book ratio but not others. An example of this would be a company with losses instead of profits or a negative book value because of heavy borrowing. Negative earnings or book value result in non-meaningful ratios that are left blank or null.

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5 Undervalued Metals & Mining Stocks

Of course, there are countless value stocks that are worth mentioning, but this is a concise list of the top 5 undervalued stocks in the Metals & Mining industry for Tuesday, October 06, 2026. Let’s take a closer look at their individual scores to see how they measure up against each other and the Metals & Mining industry median.

The Value Grade is assigned based on how each stock’s composite valuation compares to all other stocks.

The process for assigning grades starts with each variable for a given stock. The percentile rankings for all valid ratios that a stock has are calculated. So, for instance, a stock could have a price-to-book ranking in the 43rd percentile, a price-earnings ranking in the 67th percentile, a price-to-sales ranking in the 23rd percentile, etc. Then, those rankings are averaged for each stock. (A minimum of two valid variables are required, though all six will be used if available.)

Once the average of the individual variables is calculated, that average is ranked against all stocks. Put another way, each stock’s composite valuation is compared to all other stocks. These ranks are then sorted into quintiles from the cheapest 20% (a grade of A) to the most expensive 20% (a grade of F).

As always, we recommend that you conduct proper due diligence and research before investing in any security. We also suggest that investors utilize numerous grades, not just value, when it comes to deciding whether a company is a good fit for their allocation needs.

Compañía de Minas Buenaventura S.A.A.’s Value Grade

Value Grade:

Compañía de Minas Buenaventura S.A.A., together with its subsidiaries, engages in the exploration, development, construction, and operation of mines in Peru, the Americas, Europe, and Asia. It explores for gold, silver, copper, zinc, lead, and antimony deposits. The company also engages in the exploration, extraction, concentration, smelting, and marketing of polymetallic minerals and metals. In addition, it is involved in electricity transmission and generation; hydroelectric plant operation; and production of manganese sulfate monohydrate, as well as tailings dam management. The company was incorporated in 1953 and is based in Lima, Peru.

Stocks with a Value Score from 81 to 100 are considered deep value, those with a score between 61 and 80 are value and so on.

Compañía de Minas Buenaventura S.A.A. has a Value Score of 76, which is considered to be undervalued.

When you look at Compañía de Minas Buenaventura S.A.A.’s price-to-sales ratio at 3.63 compared to the industry median at 3.17, this company has a higher price relative to revenue compared to its peers. This could make Compañía de Minas Buenaventura S.A.A.’s stock less attractive for value investors.

Compañía de Minas Buenaventura S.A.A.’s price-earnings ratio is 7.50 compared to the industry median at 18.90. This means it has a lower share price relative to earnings compared to its peers. This could make Compañía de Minas Buenaventura S.A.A. more attractive for value investors.

Now, let’s assess Compañía de Minas Buenaventura S.A.A.’s EV/EBITDA ratio, also known as enterprise multiple. At 4.4, when compared to the industry median of 7.7, the company may be considered undervalued in relation to its peers. Value investors could use the enterprise multiple to identify stocks that are considered overvalued or undervalued relative to their industry.

Shareholder yield is the sum of a stock’s dividend yield (paid over previous 12 months minus special dividends) and the percentage of net share buybacks over the previous 12 months. Compañía de Minas Buenaventura S.A.A.’s shareholder yield is higher than its industry median ratio of (8.90%). Value investors may look for an attractive shareholder yield because it can be a powerful tool for identifying if the company has a good management team.

As one of the most common value metrics, the price-to-book ratio evaluates a company’s current market price relative to its book value. Compañía de Minas Buenaventura S.A.A.’s price-to-book ratio is lower than its industry median ratio of 2.58. This could make Compañía de Minas Buenaventura S.A.A. more attractive to investors looking for a new addition to their portfolio.

Lastly, let’s take a look at Compañía de Minas Buenaventura S.A.A.’s price-to-free-cash-flow ratio (P/FCF), which can indicate a company’s market value relative to its operating cash flow. Compañía de Minas Buenaventura S.A.A.’s price-to-free-cash-flow ratio is lower than its industry median ratio of 24.40. This could make Compañía de Minas Buenaventura S.A.A. more attractive because the lower P/FCF ratio indicates that Compañía de Minas Buenaventura S.A.A. is undervalued. The P/FCF ratio metric can also be viewed over a long-term time frame to see if the company's cash flow to share price value is generally improving or worsening.

DRDGOLD Limited’s Value Grade

Value Grade:

DRDGOLD Limited, a gold mining company, engages in the extraction of gold from the retreatment of surface mine tailings in South Africa. The company was formerly known as Durban Roodepoort Deep Limited and changed its name to DRDGOLD Limited in 2004. The company was incorporated in 1895 and is headquartered in Johannesburg, South Africa. DRDGOLD Limited is a subsidiary of Sibanye Gold Proprietary Limited.

Stocks with a Value Score from 81 to 100 are considered deep value, those with a score between 61 and 80 are value and so on.

DRDGOLD Limited has a Value Score of 89, which is considered to be undervalued.

DRDGOLD Limited’s price-earnings ratio is 8.1 compared to the industry median at 18.9. This means that it has a lower price relative to its earnings compared to its peers. This makes DRDGOLD Limited more attractive for value investors.

DRDGOLD Limited’s price-to-book ratio is lower than its peers. This could make DRDGOLD Limited more attractive for value investors when compared to the industry median at 2.58.

You can read more about DRDGOLD Limited’s key financial metrics like shareholder yield, price-to-free-cash-flow and EV/EBITDA ratio, or learn more about its Momentum and Growth Grades, by subscribing to A+ Investor.

Fortuna Mining Corp.’s Value Grade

Value Grade:

Fortuna Mining Corp. engages in the precious and base metal mining and related activities in Argentina, Côte d’Ivoire, Mexico, Peru, and Senegal. The company operates through Mansfield, Sango, and Bateas segments. It operates the Lindero gold mine and the Séguéla gold mine, as well as the Caylloma silver, lead, and zinc mine. The company also holds Bambadji advanced gold exploration project located in Senegal. The company was formerly known as Fortuna Silver Mines Inc. and changed its name to Fortuna Mining Corp. in June 2024. Fortuna Mining Corp. was incorporated in 1990 and is based in Vancouver, Canada.

Stocks with a Value Score from 81 to 100 are considered deep value, those with a score between 61 and 80 are value and so on.

Fortuna Mining Corp. has a Value Score of 83, which is considered to be undervalued.

Fortuna Mining Corp.’s price-earnings ratio is 9.6 compared to the industry median at 18.9. This means that it has a lower price relative to its earnings compared to its peers. This makes Fortuna Mining Corp. more attractive for value investors.

Fortuna Mining Corp.’s price-to-book ratio is higher than its peers. This could make Fortuna Mining Corp. less attractive for value investors when compared to the industry median at 2.58.

You can read more about Fortuna Mining Corp.’s key financial metrics like shareholder yield, price-to-free-cash-flow and EV/EBITDA ratio, or learn more about its Momentum and Growth Grades, by subscribing to A+ Investor.

Ferroglobe PLC’s Value Grade

Value Grade:

Ferroglobe PLC produces and sells silicon metal, and silicon and manganese-based alloys. It provides silicone metal that are used in a range of applications, including construction-related products, electronics, personal care items, and health care, as well as by primary and secondary aluminum producers. The company also offers silicomanganese, which is used as a deoxidizing agent in the steel manufacturing process; and ferromanganese that is used as a deoxidizing, desulphurizing, and degassing agent in the removal of nitrogen and other harmful elements from steel. In addition, it offers ferrosilicon products that are used to produce stainless steel, carbon steel, and various other steel alloys, as well as to manufacture electrodes and aluminum; calcium silicon for deoxidation and desulfurization of liquid steel, cast iron pipes coating production, and welding process of powder metal and in pyrotechnics, as well as control the shape, size, and distribution of oxide and sulfide inclusions; and foundry products, such as nodularizers and inoculants for production of iron. Further, the company provides silica fume, a by-product of the electrometallurgical process of silicon metal and ferrosilicon. Additionally, it operates quartz mines in South Africa, Spain, the United States, and Canada; low-ash metallurgical coal mines in the United States; and hydroelectric power plant in France, as well as procures coal, manganese ore, quartz, petroleum and metallurgical coke, electrodes, and additive metals. It serves silicone chemical producers; aluminum and steel manufacturers; auto companies and their suppliers; ductile iron foundries; manufacturers of photovoltaic solar cells and computer chips; and concrete producers. The company was formerly known as VeloNewco Limited and changed its name to Ferroglobe PLC in December 2015. The company was incorporated in 2015 and is headquartered in London, the United Kingdom.

Stocks with a Value Score from 81 to 100 are considered deep value, those with a score between 61 and 80 are value and so on.

Ferroglobe PLC has a Value Score of 77, which is considered to be undervalued.

Ferroglobe PLC’s price-to-book ratio is higher than its peers. This could make Ferroglobe PLC less attractive for value investors when compared to the industry median at 2.58.

You can read more about Ferroglobe PLC’s key financial metrics like shareholder yield, price-to-free-cash-flow and EV/EBITDA ratio, or learn more about its Momentum and Growth Grades, by subscribing to A+ Investor.

Kinross Gold Corporation’s Value Grade

Value Grade:

Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of gold properties principally in the United States, Brazil, Chile, Canada, and Mauritania. It is also involved in the extraction and processing of gold-containing ores; reclamation of gold mining properties; and production and sale of silver. The company was founded in 1993 and is headquartered in Toronto, Canada.

Stocks with a Value Score from 81 to 100 are considered deep value, those with a score between 61 and 80 are value and so on.

Kinross Gold Corporation has a Value Score of 77, which is considered to be undervalued.

Kinross Gold Corporation’s price-earnings ratio is 9.0 compared to the industry median at 18.9. This means that it has a lower price relative to its earnings compared to its peers. This makes Kinross Gold Corporation more attractive for value investors.

Kinross Gold Corporation’s price-to-book ratio is lower than its peers. This could make Kinross Gold Corporation more attractive for value investors when compared to the industry median at 2.58.

You can read more about Kinross Gold Corporation’s key financial metrics like shareholder yield, price-to-free-cash-flow and EV/EBITDA ratio, or learn more about its Momentum and Growth Grades, by subscribing to A+ Investor.

Other Metals & Mining Stock Grades

Value is just one of the five Stock Grades included in our A+ Investor service. AAII members can see the top-graded stocks—those with grades of A or B for value, growth, momentum, earnings estimate revisions and quality—on the A+ Stock Grades Screener.

Also, if you want full access to all of AAII’s premium services, you can subscribe to one convenient bundled plan called AAII Platinum where you can try out A+ Investor, AAII Dividend Investing, the Stock Superstars Report, Growth Investing and VMQ Stocks. With the other premium services, you can dive deep into additional metrics, portfolios, commentary and information about Metals & Mining stocks as well as other industrys.

Choosing Which of the 5 Best Metals & Mining Stocks Is Right for You

Choosing which value stocks to invest in will ultimately depend on your individual goals and allocation; however, comparing similar value stocks in the same industry can help you analyze which might be better investments for you in the long run. So, let’s take a look at the Value Grade for all of our stocks.

• Compañía de Minas Buenaventura S.A.A. stock has a Value Grade of B.
• DRDGOLD Limited stock has a Value Grade of A.
• Fortuna Mining Corp. stock has a Value Grade of A.
• Ferroglobe PLC stock has a Value Grade of B.
• Kinross Gold Corporation stock has a Value Grade of B.

Now that you have a bit more background about each of the 5 undervalued stocks in the Metals & Mining industry as well as their overall grades, it’s time for you to conduct additional research to see if these could fit your portfolio needs based on your goals and risk tolerance. AAII can help you figure out both and identify which investments align with what works best for you.

We do so through a program of education that teaches you to invest for yourself and become an effective manager of your own wealth—no more relying on others for your financial independence. You can rely on AAII for timeless articles on financial planning and stock-picking, unbiased research and actionable analysis that makes you a better investor.

A+ Investor adds to that qualitative teaching by giving you a powerful data suite that helps you whittle down investment decisions to find stocks, exchange-traded funds (ETFs) or mutual funds that meet your needs.

Additional Resources About Metals & Mining Stocks

Want to learn more about Metals & Mining stocks to see if they could be the right investment for you? Check out some additional resources and articles to help you on your financial journey.

• 5 Undervalued Metals & Mining Stocks for Monday, October 05
• Is Ampco-Pittsburgh Corporation (AP) Overvalued?
• Why Atlas Lithium Corporation’s (ATLX) Stock Is Up 6.22%
• Why Cleveland-Cliffs Inc.’s (CLF) Stock Is Up 5.96%

AAII Disclaimer

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