The Materials Select Sector SPDR® Fund (NYSE:) has provided decent returns of 9.8% year-to-date (YTD) in 2025, outperforming several other sector-focused exchange-traded funds (ETFs) and the broader market as represented by the .
Materials stocks as a group have faced uncertainty in recent months, owing to the sector’s cyclical nature, ongoing concerns about the U.S. economy, and a shifting global tariff environment.
Still, there are compelling investment opportunities in individual names within the sector, particularly those earning Buy ratings from analysts. Though these endorsements do not guarantee the companies’ outperformance, they can offer helpful direction in a volatile environment.
Here are three materials stocks analysts overwhelmingly favor, each of which has already outpaced the market in 2025 but may still have more room to run.
1. Agnico Eagle Mines: Strong Gold Rally Drives Big Earnings Beat
Agnico Eagle (NYSE:) Mines, a Canadian gold mining firm with widespread operations across North America, Australia, and Europe, has enjoyed a standout year. With a market cap of over $62 billion, it is the second-largest publicly traded mining firm. This gives Agnico a tremendous advantage over smaller competitors: an ability to support the resource-heavy process of building out and maintaining mining infrastructure.
Agnico impressed in its first-quarter earnings, topping analyst EPS predictions by 14 cents and doubling its earnings relative to the prior-year quarter. Revenue surged by about 35% year-over-year (YOY), also beating expectations. Like many other gold mining firms, Agnico has benefited from the rally in gold prices over the past few months.
With its Q2 earnings report due soon, analysts are optimistic, having raised both earnings and revenue forecasts. Investors are watching for top- and bottom-line performance, but they should also pay close attention to Agnico’s production output. The rally in the price of gold won’t last forever—it may already be showing signs of slowing—and continuing to grow production will be essential for mining firms as they look to maintain their upward trajectory.
Agnico’s fundamentals remain solid: 12 out of 14 analysts tracked by MarketBeat rate Agnico as a Buy. And, despite the fact that shares have risen nearly 53% YTD, the company’s consensus price target suggests more upside of about 11% could still be on the horizon.
2. Barrick Gold: Copper Exposure Adds Complexity—and Opportunity
Another gold mining outfit, Barrick Mining Corp (NYSE:), presents many of the same considerations for investors as Agnico, including a large global footprint and a sharp YTD rally of over 38%. YTD. However, Barrick has an advantage over Agnico in that its price-to-earnings (P/E) ratio is comparably lower at 16.0 versus Agnico’s 26.3.
What sets Barrick apart from its peers is its significant exposure to mining, with operations in Chile, Zambia, and other regions. This dual focus could either hinder or help the stock, especially after the Trump administration’s announcement of a 50% tariff on imported copper, which is set to begin in August. This new tariff could create significant volatility in copper prices—and possibly investment opportunities.
Eight analysts tracked by MarketBeat rate Barrick a Moderate Buy and believe the stock has upside potential of more than 14%.
3. Carpenter Technology: Steel and Titanium Gains From Tariffs
Carpenter Technology (NYSE:) is up nearly 58% YTD, riding a wave of demand for its specialty metals like titanium alloys, advanced steels, and more. The company serves multiple industries, but its aerospace and defense segment appears to be the key growth driver.
Carpenter may be a beneficiary of Trump’s tariffs on steel, which rose to 50% in June 2025. These tariffs likely helped support price increases and margin expansion, aiding the company’s bullish full-year income outlook.
Investors should watch carefully when Carpenter reports earnings on July 31, particularly for signs that the tariff boost is translating into sustainable growth.
Analyst sentiment remains strong, with four out of five analysts tracked by MarketBeat giving CRS a Moderate Buy rating.
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