Right now is a very exciting time for long term stocks. At least it is in the commodities space. The commodities sector is coiled up dating back in some cases from decades. And in the short term, some have already started ripping.

Uranium stocks since 2018 are up and are producing tasty looking buying opportunities in this retest. Then there is natural gas, oil, and of course the precious metals sector looks fantastic.

There is perfect confluence between the technical charts and the fundamentals regarding commodities needed for the next years and more.

Perhaps you can tell I’m pretty excited about the prospects of commodities stocks. These are long-term plays for several years, if not over a decade.

When it comes to precious metals, most people buy either the ETFs of gold and silver, or hold physical. But if you’re worried you already missed the boat on gold and silver, that’s where mining companies come in. Mining companies lag behind the metals and are set to outperform the industry in a bull market. Here are three long term stocks to buy right now.

Barrick Gold (GOLD)

Barrick Gold (NYSE:GOLD) is one of the leading gold miners in the world. Being an established company makes it a relatively safer bet than the junior miners. Sure junior miners tend to bring bigger profits in a bull market, but they are very volatile. Not the best pick for long-term stocks.

Senior miners like GOLD offer long-term stability, being less likely to go out of business than the junior miners. They also suffer fewer violent swings.

GOLD’s Q2 production figures revealed the company is on course to achieve their full-year gold and copper guidance targets.

It has been trading between in the $16 to $19 range since the start of summer. The precious metals space as a whole has been consolidating during this time after an initial bull run. The encouraging sign is that miners like GOLD have been outperforming the metal prices themselves, particularly the past month.

The fundamental and technical views are very bullish for GOLD going forward.

Newmont (NEM)

Newmont (NYSE:NEM) is another senior mining company based out of Colorado. It has historically been something of a parallel runner to the Barrick Gold. When people think of gold miners, these are the two that tend to get brought up first.

And like GOLD, NEM has the advantage of being more stable than the junior miners, making it a viable long-term stock.

NEM reported second-quarter net earnings at $838 million for that quarter, up from $166 million in Q1 and up from $153 million the previous year.

Why such a big jump?

This is down to a combination of their infrastructure being offloaded and the rising metals prices in general. The sale of some of their assets in Q1 is behind them. So there were no significant losses to bring down their net income figure for Q2.

NEM has been ranging between $40 and $48 this summer. Like GOLD, they too have been outperforming the metals in July during a correcting phase. An out-performance over the metal itself during a correction has very bullish connotations.

Pan American Silver (PAAS)

Pan American Silver (NYSE:PAAS) has been with us since 1994 and is one of the biggest producers of silver in the world. Silver tends to outperform gold during a metals bull run. And silver is doing so again in the current bull run’s early stages.

While this bull run has begun for the metal itself, buying into the miners now is a chance to take advantage of the “miner’s lag”.

PAAS is based in Canada with silver mines and projects in Mexico, Peru, Bolivia and Argentina. But unlike NEM and GOLD, PAAS’s has underperformed the market in 2024 so far.

While this may not be a good result in the short term, PAAS is one of the long-term stocks to have in a portfolio. After a basing out price action from mid-2022 to the start of 2024, PAAS stock has risen from $12.41 in February to the low-mid $20s since May.

This price action has been in keeping with the metal itself as well as the other metal miners. The long-term play remains very strong.

On the date of publication, Sam Farnham did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.