Best ASX stocks in momentum to buy in 2026

The following ASX stocks currently have massive momentum in place driven by commodity price tailwinds and major operational milestones.

Recent funding progress and government backing along with accelerating development activities have further improved confidence in these companies’ long-term growth outlooks.

Best ASX stocks in momentum

True North Copper Limited (ASX: TNC) 

Unico Silver Limited (ASX: USL) 

Arafura Rare Earths Limited (ASX: ARU) 

True North Copper Limited (ASX: TNC) 

True North Copper Limited  rose 4.76% at the time of writing on 12 May after the company announced the successful completion of its 2026 Cloncurry Copper Project drilling campaign which supported progress towards a targeted Pre-Feasibility Study in Q4 CY2026.

TNC is one of the best ASX stocks with momentum because stronger government focus on copper supply chains and regional infrastructure spending could further boost investor sentiment. This is evident by the fact that the company recently secured about $750,000 in Queensland Government grants.

The company currently holds a market capitalisation of about $67 million and completed 3,500m of RC drilling along with 2,300m of diamond drilling across several high-priority targets.
True North Copper has maintained solid operational progress as the Cloncurry Copper Project resource increased to 13.63Mt at 0.8% copper and 0.19g/t gold for around 109kt of contained copper.

Unico Silver Limited (ASX: USL) 

Unico Silver Limited surged 6.94% at the time of writing on 12 May after silver prices jumped more than 6% on Monday and reached their highest level in almost two months.

The company currently has a market capitalisation of about $487.5 million and recently reported strong drilling results from its wholly owned Joaquin Project in Argentina which included 11.25m at 1,301gpt AgEq and 23.5m at 266gpt AgEq ahead of its upcoming Pre-Feasibility Study (PFS).

USL also announced that its Joaquin Mineral Resource Estimate increased to 167Moz AgEq which marks a 143% rise since acquisition while the combined Joaquin and Cerro Leon resource base has now reached 330Moz AgEq.

Around 78% of the Joaquin resource is now classified in the higher-confidence Indicated category while more than 200Moz of near-surface free-milling oxide mineralisation could support a low-cost and scalable pathway for future production growth.

The company also maintained a strong financial position with $62.7 million in cash and cash equivalents at the end of the March 2026 quarter.

Arafura Rare Earths Limited (ASX: ARU) 

Arafura Rare Earths Limited has a market capitalisation of $1.56 billion and is one of the best ASX stocks with momentum as the stock has risen 16.67% in the past one month.

The company has moved closer to a final investment decision for its Nolans Rare Earths Project in the Northern Territory.

ARU during the March 2026 quarter secured major binding cornerstone equity commitments worth approximately $230 million from Export Finance Australia and Germany’s KfW-backed German Raw Materials Fund while total binding equity commitments and previously raised capital for Nolans reached $911 million.

The company also reported a strong financial position with cash reserves of $561 million at the end of March 2026.

ARU’s long-term outlook has improved because global rare earth markets have tightened while NdPr oxide prices in China increased from around US$87/kg at the start of the quarter to peaks of US$129.50/kg during February 2026 which was due to seasonal restocking ahead of the Chinese New Year holiday and reduced Chinese production.

(Source: Company Reports)