Just spotted something interesting in the mining sector that might be flying under most people's radar right now.

So there are two mining stocks to buy that look genuinely undervalued based on where commodity prices are sitting. I'm talking about Freeport-McMoRan and Albemarle — both of these have serious upside potential if you believe current copper and lithium prices are here to stay.

Let me break down why Freeport catches my attention first. The company's basically printing money at current copper levels around $5.66 per pound. Their EBITDA projections for 2027-2028 show $17.6 billion at this price point, but here's the kicker — they're trading at only 5.5x EV/EBITDA multiple. That's historically cheap for a quality producer. Beyond the valuation math, they've got production ramping up in Indonesia and this leaching operation that's recovering copper from stockpiles is accelerating faster than most realize. Management hasn't even fully baked in the upside from that into their guidance yet.

Albemarle's story is different but equally compelling. Lithium took a beating after the EV boom cooled, and the company actually posted losses in 2024-2025. But management cleaned house — divested the garbage, cut costs aggressively — and now they're positioned perfectly for a lithium price recovery. At $20 per kg for lithium carbonate, the math works out to roughly 9.4x EV/EBITDA for 2026. That's solid value. The supply glut has cleared, EV investment is picking up globally, and battery storage demand is surging. The pieces are there.

What makes both of these mining stocks to buy right now is the asymmetry — more upside than downside if prices hold, which is how you want to think about commodity plays. Obviously copper and lithium can be volatile, but if you're comfortable with that, both companies look like genuine opportunities heading into the second half of the year.