In this article, we will discuss the 10 Best Mining Penny Stocks to Buy Now.
The global demand for essential metals and materials has been on the rise, helping the mining industry expand. The global mineral market is forecasted to grow at a compound annual growth rate (CAGR) of 6.2%, as per The Business Research Company. The market is forecasted to grow to $3 trillion by 2029, driven by infrastructure upgradation, foreign direct investment (FDI), and automation. Capital inflows to mining projects are potentially growing due to government incentives and technological advancements.
As the metals and mining industry mitigates earnings pressure, it remains financially stable due to flexible shareholder returns and lower debt levels. On one end, due to increasing costs, gold has crossed the $2,000 per ounce mark, and metallurgical coal has surpassed $200 per ton, according to a report by S&P Global. Moreover, as North American producers of steel look to rationalize capacity, Chinese exports have seen an increase regardless of decreasing output.
On the other hand, lithium miners are facing price headwinds, whereas aluminum demand remains stable due to the demand from the transportation and packaging industries. Although M&A remained controlled within the industry, steelmakers were able to continue acquisitions, while miners, on the other hand, are putting efforts toward efficiency and cost-cutting, as technology and capital requirements shape profitability.
Key metals have seen strong price movements in 2025, which reflect the sector’s bullish outlook. Accordingly, gold and silver demand has risen as safe-haven assets due to economic uncertainty. Gold futures have seen a 38.63% increase, year-on-year, as of writing this article, while silver futures recorded an increase of 37.63%. Furthermore, Gold ETFs have seen a record gain of 26% in 2024 since 2010. Due to inflationary pressures and global trade tensions, as well as President Donald Trump’s tariffs, this pattern is expected to continue, fueling investor demand for metals.
On the other hand, industrial metals are also witnessing a growing demand. Lithium demand is expected to reach $9.01 billion by 2025, up from $7.75 billion in 2024, largely due to its use in battery production. As reported in one of the previous Insider Monkey articles, 80% of mined lithium goes toward the production of batteries, which is expected to grow to 95% by 2030. Furthermore, copper demand remains stable, with the market valued at $176.88 billion in 2024, bolstered by China and India’s infrastructure projects. Similarly, according to Zinc.org, Zinc demand is also rising in the renewable energy sector, with consumption of 568,000 tons expected by the solar industry by 2030.
Thus, the mining industry is revolutionizing due to technological advancements, bolstering efficiency and lowering costs. Mine development time has been brought down to nine years from 16, driven by AI and advanced analytics. Likewise, the time to perform geophysical data analysis has been reduced to mere weeks from two years. Furthermore, according to KPMG Mining Outlook 2024, core sample evaluations now take 12 minutes, compared to 45 days previously. Moreover, innovations have helped enhance sustainability for metal recycling. Accordingly, new methods now achieve a 95% recovery rate from steel mill waste, transforming waste into reusable materials used in construction and manufacturing.
However, the industry faces challenges in terms of geopolitical instabilities and changing trade policies. The U.S.-China tariff dispute, including potential policies against American goods, can potentially disrupt the global supply chains, especially those of critical minerals. Moreover, market volatility is still a risk as China holds around 90% of global rare earth refining capacity.
Nevertheless, the mining industry looks toward long-term growth, driven by strong demand for major metals, infrastructure development, and cost-cutting through automation.
With this in mind, let’s look into the 10 Best Mining Penny Stocks to Buy Now.
Aerial view of the Rodeo gold mine with a team of miners in the foreground.
Methodology
To curate our list of the 10 Best Mining Penny Stocks to Buy Now, we looked into ETFs, and a stock screener to come up with several top mining stocks trading below $5, as of the time of writing this article. Out of this list, 10 stocks were shortlisted based on their popularity among top hedge funds and positive outlook from analysts. Accordingly, the stocks are ranked in ascending order based on the number of hedge funds holding stakes in the respective stocks, as of Q4 2024. The data for hedge funds was extracted from Insider Monkey’s database, which tracks over 1000 hedge funds.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).
10. Lithium Americas Corp. (NYSE:LAC)
Number of Hedge Fund Holders: 10
Share Price as of the close of March 7: $3.09
Lithium Americas Corp. (NYSE:LAC) has a focus on lithium exploration and development, which is mainly made possible by their 100% stake in the Thacker Pass project in Nevada. The Cauchari-Olaroz lithium brine project in Argentina is also operated by the company under a joint venture with Ganfeng Lithium.
Looking at its financials, Lithium Americas Corp. (NYSE:LAC) reported an increase of 21% in its lithium carbonate production at Cauchari-Olaroz in Q3 ended September 30, 2024, reaching around 6,800 tons. The plant is expected to produce between 20,000 and 25,000 tons for the full year, operating at 75% to 80% of its full capacity currently. While the company was able to reduce its processing costs for battery-quality lithium carbonate to $1,500 from $2,000 per ton, realized lithium prices decreased to around $7,000 per ton, adding pressure to the margins.
Moreover, Lithium Americas Corp. (NYSE:LAC) was able to secure a loan of $2.26 billion from the U.S. Department of Energy’s Loan Programs Office in Q4 2024 to finance Phase 1 construction at Thacker Pass. This loan is to achieve the target production of 40,000 tons of battery-grade lithium carbonate annually. The engineering phase is approximately 40% complete, while major long-lead equipment is being sourced.
Furthermore, Lithium Americas Corp. (NYSE:LAC) finalized a joint venture worth $625 million with General Motors, which has a stake of 38% in the project. Construction is moving forward, including safety improvements, housing facilities for the workforce, and essential infrastructure such as water supply systems and road upgrades.
In addition to making strategic alliances, Lithium Americas Corp. (NYSE:LAC) increased its lithium carbonate equivalent (LCE) resources by 277%, now at 44.5 million metric tons, cementing its potential for long-term growth. The analysts’ price target is set at $8.50, which bolsters confidence in the company’s resource expansion and development plans. Thus, LAC is among the best penny stocks to buy now.
9. i-80 Gold Corp. (NYSE:IAUX)
Number of Hedge Fund Holders: 11
Share Price as of the close of March 7: $0.63
i-80 Gold Corp. (NYSE:IAUX) is a mining company based in the U.S. with gold, silver, and polymetallic assets in Nevada. The company’s main assets include McCoy-Cove, Granite Creek, Lone Tree, and Ruby Hill.
The company is looking to become a mid-tier gold producer by implementing a five-mine plan. This plan is expected to produce between 400,000 and 500,000 ounces per annum by the early 2030s. Its long-term production potential has been highlighted in the recently reported preliminary economic assessment (PEA) for Mineral Point.
For the quarter ended September 30, 2024, i-80 Gold Corp. (NYSE:IAUX) reported revenue of $11.5 million, a decline compared to $13.2 million in Q3 2023. This is attributed to lower production of gold at its Granite Creek due to groundwater issues. Regardless, the company recorded gold sales of 3,063 ounces, with an average price of $2,422 per ounce, and mineralized material sales of $4.1 million. However, it reported a net loss of $0.10 per share, driven by ongoing capital investments, as well as derivative losses. The company’s financing needs are highlighted through reported cash reserves of $21.8 million.
Moreover, i-80 Gold Corp. (NYSE:IAUX) is focused on strengthening its liquidity as it signed a $65 million convertible debenture agreement and a private placement with insiders. The company also raised $13.1 million through an at-the-market (ATM) equity offering, enabling selling of its shares directly into the open market at relevant prices. Furthermore, the company is looking to work with lenders, including Orion, to restructure debt.
Looking ahead, the Mineral Point project’s PEA forecasts production of gold to be around 5.49 million ounces and 195.8 million ounces of silver, driven by pit optimization through Lerchs-Grossman (LG) mining software. i-80 Gold Corp. (NYSE:IAUX) has planned a 50,000-meter drilling program to upgrade resource classification and assist feasibility studies by 2029. While the company faces challenges in terms of Granite Creek’s dewatering efforts and toll milling uncertainty, it looks to position itself for long-term growth in Nevada’s mining district through its five-mine plan.
8. Taseko Mines Limited (NYSE:TGB)
Number of Hedge Fund Holders: 12
Share Price as of the close of March 7: $2.09
Taseko Mines Limited (NYSE:TGB) is involved in the production of copper and molybdenum by operating its Gibraltar Mine in British Columbia, which was acquired in March 2024. The mine produced a total of 106 million pounds of copper and 1.4 million pounds of molybdenum in 2024.
Moreover, the company is making progress with its Florence Copper Project in Arizona, as 60% of construction is completed. The production is expected to start by early 2026. Taseko Mines also operates the Yellowhead and New Prosperity projects in Canada, with progress in feasibility studies.
Looking at Taseko Mines Limited (NYSE:TGB)’s financials, it reported a record revenue of approximately $450 million for the full year ended December 31, 2024. This was made possible through strong copper prices, averaging around $4.17 per pound, and the full acquisition of Gibraltar. Accordingly, the company reported an adjusted EBITDA of approximately $165 million, with an operating cash flow of $175 million.
However, the company recorded a net loss of $10 million, partially driven by losses in non-cash foreign exchange. Additionally, it faced production disruptions at Gibraltar due to maintenance work, which was caused by a labor strike, decreasing its copper production by 15 million pounds.
On the brighter side, Taseko Mines Limited (NYSE:TGB) was able to recover its production in Q4, with copper output at 29 million pounds at a cash cost of $2.42 per pound. Mill throughput excelled in its design capacity, and the production of molybdenum exceeded 600,000 pounds due to higher grades at the Connector pit.
Furthermore, copper output at Gibraltar is expected to increase by 120 to 130 million pounds in 2025, with better performance forecasted in the latter half of the year. The company is also resuming operations at its SX/SE plant, which will increase cathode production by 3 to 4 million pounds. It is looking at its Florence Copper Project to grow, targeting production start in 2026, and increasing it to 85 million pounds by 2027. Taseko Mines Limited (NYSE:TGB) is expected to benefit from favorable government policies such as tax credits, which can improve project economics. Thus, it is one of the best penny stocks to buy now.
7. Silvercorp Metals Inc. (NYSE:SVM)
Number of Hedge Fund Holders: 14
Share Price as of the close of March 7: $3.86
Silvercorp Metals Inc. (NYSE:SVM) is a Canadian company primarily engaged in the exploration, development, and production of gold, silver, lead, and zinc. The company’s mine operations span across multiple provinces of China. SVM is one of the best penny stocks to buy now.
Silvercorp Metals Inc. (NYSE:SVM) reported a revenue of $84 million for Q3 2025, ended December 31, 2024, which is a 43% increase compared to the previous year. This was primarily due to a 16% increase in its silver production, which stood at 1.9 million ounces, and also due to a jump of 21% in average realized silver prices to $25.20 per ounce. The strong output was also supplemented by higher ore grades and increased milling capacity, bolstering gold production by 53% and lead production by 5%.
Accordingly, Silvercorp Metals Inc.’s (NYSE:SVM) net income more than doubled to $26 million, or $0.12 per share, which previously stood at $11 million, or $0.06 per share, compared to the same quarter in the previous year. The company’s operating cash flow saw a surge of 90%, standing at $45 million, driven by increased sales volume and efficient cost management. As a result, the company had a strong cash balance of $355 million at the end of 2024, which was strengthened by net proceeds received through a convertible note offering.
Looking forward, the company is putting efforts to enhance its production efficiency through key expansion projects. In January 2025, it expanded its mill at the Ying Mining District, bolstering its capacity to process from 2,500 tons to 4,000 tons per day, which is expected to improve overall costs. The company is also taking forward the El Domo Copper-Gold project in Ecuador, which is expected to start production in the latter half of 2026. Silvercorp was also able to secure final permits for the Kuanping project, setting it up for long-term growth.
Additionally, Silvercorp Metals Inc. (NYSE:SVM) reaffirmed its forecast of silver production between 6.7 million and 7.2 million ounces for fiscal year 2025. Conclusively, the company is in a strong position to profit from strong silver prices, increasing productivity, and an expanding asset base, while maintaining flexibility in terms of financing to further its future developments.
6. Sibanye Stillwater Limited (NYSE:SBSW)
Number of Hedge Fund Holders: 18
Share Price as of the close of March 7: $3.88
Sibanye Stillwater Limited (NYSE:SBSW) is an international precious metals mining company that operates across multiple regions, such as South Africa, Europe, Australia, and the United States. The company yields various metals, including gold and platinum group metals (PGMs), such as palladium, platinum, rhodium, chrome, nickel, silver, cobalt, and copper.
The company recorded 11.45% year-on-year growth in revenue to roughly $3.17 billion for the second half of 2024, which was fueled by higher gold prices and the inclusion of the Reldan operation. Yet, year-long revenue dropped by 1% to $6.12 billion. The company faced a net loss of $311 million, and the adjusted EBITDA for the year stood at $715 million; however, it would have recorded a profit of $191 million, if the impact of impairment is excluded.
However, Sibanye Stillwater Limited (NYSE:SBSW)’s South African gold segment’s adjusted EBITDA soared 216% due to its strong performance in the second half of 2024. Simultaneously, there was a 27% reduction in total costs due to restructuring its US PGM operations. But, due to weaker metal prices, the South African PGM operations faced headwinds, with EBITDA declining by 60%. Irrespective of these fluctuating annual results, the company’s cash climbed to $880 million, bolstering its liquidity position. At the same time, its total borrowing grew from $1.85 billion to $2.17 billion.
Going forward, within 36 months, Sibanye Stillwater Limited (NYSE:SBSW) plans to lower its total costs for Stillwater operation down to $1,000 per ounce. Moreover, particularly in the U.S., by aligning with government projects, the company expects to benefit from the demand for strategic metals. Hence, it is one of the best penny stocks to buy now.
5. Fortuna Mining Corp. (NYSE:FSM)
Number of Hedge Fund Holders: 19
Share Price as of the close of March 7: $4.91
Fortuna Mining Corp. (NYSE:FSM) produces diversified precious and base metals. The company runs its operations in Mexico, Peru, Côte d’Ivoire, Argentina, and Burkina Faso, exploring gold, lead, silver, and zinc. It operates across five operating mines, with Séguéla Gold Mine in Côte d’Ivoire playing a key role in its gold production.
Backed by strong gold production from its West African operations, Fortuna Mining Corp. (NYSE:FSM) reported record sales of $275 million in Q3 of 2024. It recorded an EBITDA margin of 48%, with net income of $50.5 million. The company recorded a cash cost of $1,059 per gold equivalent ounce, maintaining disciplined cost control. Accordingly, with $181 million in cash and total liquidity of $431 million, its balance sheet remained strong.
In addition, Fortuna Mining Corp. (NYSE:FSM) accomplished a record gold equivalent production of 455,958 ounces, which included 3.7 million ounces of silver and 369,637 ounces of gold in 2024. As an improvement from Q3, the company’s production grew from 110,820 ounces to 116,358 gold equivalent ounces in Q4. To reinforce its shareholder value, Fortuna repurchased 6.4 million common shares for $30.5 million.
Notably, Séguéla surpassed its forecasts by processing 1.56 million tons in 2024, 25% above design capacity. In Q4, with plant throughput surpassing estimates, the mine generated 35,244 ounces of gold. With its first production from the 109 Zone open pit expected in Q1 2025, the company has accomplished a one-million-ounce gold pour milestone and continued the development at the 55 Zone and QVP. However, due to a mill circuit breaker failure, Q4 production witnessed downtime despite the higher grades.
It is important to note that for the year 2025, due to the planned sale of the San Jose Mine and silver equivalent adjustments at Caylloma, Fortuna Mining Corp. (NYSE:FSM) forecasts gold equivalent production of 380,000-422,000 ounces, a drop by 7%–17%. Furthermore, its silver output is projected to decline to 0.9-1.0 million ounces.
Nevertheless, the company continues to position itself as one of the best mining penny stocks to buy now due to its ongoing mine development and cost-cutting initiatives.
4. Endeavour Silver Corp. (NYSE:EXK)
Number of Hedge Fund Holders: 19
Share Price as of the close of March 7: $3.98
Endeavour Silver Corp. (NYSE:EXK) is a producer of mid-tier precious metals with a focus on silver and gold mining. With its key assets in Mexico, the company is advancing its flagship Terronera project in Jalisco and operates the Guanaceví and Bolañitos mines.
Backed by higher metal prices, the company recorded $53 million in revenue for Q3 ended September 30, 2024, which is an 8% year-on-year increase. Unfortunately, due to operational hurdles and rising costs, the company faced a net loss of $17 million. Marking a turnaround from the $8.3 million adjusted loss in Q3 2023, the adjusted income was reported to be $1.6 million.
Moreover, Endeavour Silver Corp. (NYSE:EXK) boosted its balance sheet to fund the Pitarrilla project in Durango and aid general operations by completing a $72.8 million bought deal offering in November 2024. In addition to that, exploration success at Bolañitos has secured high-grade silver-gold mineralization at the La Luz vein, extending mine life.
Moving forward, commissioning the Terronera project, which reached 89.4% completion as of December 31, 2024, is the company’s primary focus. Full commissioning is expected in early Q2 2025, followed by delays in structural steel delivery, as surface construction is almost complete. After a ball mill failure that impacted Q4 output in Guanaceví, operations are predicted to return to their maximum capacity in the upcoming weeks.
Furthermore, with Endeavour Silver Corp. (NYSE:EXK) retaining a cash position of $55 million and working capital of $29 million, silver equivalent production attained 1.6 million ounces in Q3. Over the past year, as of writing this article, EXK’s 123.95% stock appreciation was primarily driven by its business growth and ongoing development progress. Looking ahead, analysts project an average price target of $6.75, depicting a 79.28% upside from current levels.
Thus, Endeavour Silver Corp. (NYSE:EXK) remains one of the best penny stocks to buy now for investors seeking silver exposure, due to the company’s growing silver reserves, improving financial health, and expansion projects.
3. B2Gold Corp. (NYSE:BTG)
Number of Hedge Fund Holders: 19
Share Price as of the close of March 7: $2.68
B2Gold Corp. (NYSE:BTG) is a gold production company based in Vancouver, and its operations are run in the Philippines, Mali, and Namibia. The company is assessing possible developments in Mali, Colombia, and Finland and is also progressing well with its Goose Project in northern Canada.
Backed by robust performance from the Masbate and Otjikoto mines, B2Gold Corp. (NYSE:BTG) generated 186,001 ounces of gold in Q4 ended December 31, 2024. Unfortunately, full-year output dropped to 804,778 ounces, which represents the lower end of the company’s forecasted production range. This is due to lower-than-expected output at Fekola, which was attributed to delays in reaching higher-grade ore.
Subsequently, B2Gold Corp. (NYSE:BTG) recorded adjusted net earnings of $0.01 per share and operating cash flow of $145 million in Q4 ended December 31, 2024. The company closed its year with $337 million in cash, fully repaying its $400 million revolving credit facility following a $460 million convertible note issuance in early 2025.
Fueled by increasing output from Fekola and the startup of the Goose Project in Q2 2025, which is forecasted to contribute over 300,000 ounces annually, B2Gold Corp. (NYSE:BTG) anticipates strong production growth in 2025. In addition to this, the Gramalote Project in Colombia could contribute 234,000 ounces per year, subject to a positive feasibility study by mid-2025. The company strengthened its resource base by discovering 327,000 additional ounces at Otjikoto’s Antelope deposit.
Moving forward, backed by growing mining rates at Fekola and the Goose Project ramp-up, B2Gold Corp. (NYSE:BTG) predicts overall business growth in 2025. Therefore, BTG remains one of the best penny stocks to buy now due to its significant developments in progress.
2. New Gold Inc. (NYSE:NGD)
Number of Hedge Fund Holders: 26
Share Price as of the close of March 7: $2.90
New Gold Inc. (NYSE:NGD) is an intermediate gold mining company based in Canada that operates and develops mineral properties. Majorly producing gold, silver, and copper, the company has 100% interest in the New Afton project in British Columbia and the Rainy River mine in Ontario.
Fueled by higher gold and copper prices and enhanced operational efficiencies, New Gold Inc. (NYSE:NGD) recorded $924.5 million in revenue for the year ended December 31, 2024, a 17.55% growth from 2023. Increased margins and $90 million in free cash flow were supported by the drop in total costs per gold ounce by 31%, from $1,481 in Q4 2023 to $1,018 in Q4 2024. The company ended the year with $105 million in cash and $482 million in total liquidity due to its strong financial standing, enabling it to repay its entire $100 million credit facility.
In addition, New Afton accomplished commercial production at its C-Zone project, improving efficiency and lowering costs. However, production was impacted temporarily as Rainy River faced mechanical downtime. Still, New Gold Inc. (NYSE:NGD) was able to generate its strongest quarter of 2024, demonstrating its capability to maintain cost discipline and maximize output.
The stock price rose by 73.6% over the past year, as of writing this article, as its strong financial execution and strategic mine development increased the investors’ confidence. Moving forward, gold output is anticipated to rise from 300,000 ounces in 2024 to 410,000 ounces by 2027. However, due to mine sequencing, the first half of 2025 production is predicted to be lower, but a stronger second half is forecasted as the C-Zone fully ramps up. Depending upon metal prices and tailings capacity, the ongoing exploration at Rainy River could further expand mine life.
Thus, New Gold Inc. (NYSE:NGD) stands out as one of the most appealing mining stocks for investors, due to its cost reductions, solid operational performance, and significant stock appreciation.
1. Ferroglobe PLC (NASDAQ:GSM)
Number of Hedge Fund Holders: 27
Share Price as of the close of March 7: $3.96
Ferroglobe PLC (NASDAQ:GSM) is a leading silicon metal and specialty alloy producer that serves prominent sectors of industries, such as automotive, construction, and solar energy. With its production facilities across regions such as North America and Europe, the company operates globally. Ferroglobe PLC has a varied portfolio, which includes silicon-based alloys and high-purity silicon metals used in semiconductors and renewable energy technologies. It operates through quartz mines across various countries as well as coal mines in the U.S.
Due to lower silicon metal and silicon-based alloy volumes (13% decline), Ferroglobe PLC (NASDAQ:GSM) recorded revenue of $368 million for Q4 ended December 31, 2024, which was an 18% sequential decrease. Adjusted EBITDA declined to $10 million during the quarter, which was a decrease from $60 million in the previous quarter. The decline was fueled by lower sales volumes and weaker pricing. Furthermore, the company also engaged in backing U.S. trade petitions against low-cost imports, which may lead to favorable pricing conditions if duties are imposed.
Henceforth, with the lower end reflecting current conditions and the higher range contingent on trade measures and volume recovery, Ferroglobe PLC (NASDAQ:GSM) predicts full-year 2025 EBITDA between $100 million and $170 million. As demand rebounds in Asia, the company predicts a stronger second half.
Supported by its strategic market positioning, production expansions, and potential trade protections that could boost pricing power, Ferroglobe PLC (NASDAQ:GSM) continues to stand as one of the best penny stocks to buy now.
Overall, Ferroglobe PLC (NASDAQ:GSM) ranks first on our list of the best mining penny stocks to buy now. While we acknowledge the potential of GSM, our conviction lies in the belief that certain AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than GSM but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.
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