Global growth warnings, inflation pressures, and conflict driven supply risks are pushing commodity and natural resource stocks back into the spotlight. With the World Bank projecting 2.5% global growth for 2024 and highlighting the risk of sharper slowdowns, investors are again weighing how exposure to energy, materials, and agriculture related businesses might respond to higher price volatility and prolonged tight financial conditions. This article highlights three large, financially stable stocks from a commodities and natural resources screener that may be positively exposed to these developments and is intended to help you think through where risks and potential opportunities may be concentrating.

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Labrador Iron Ore Royalty (TSX:LIF)

Overview: Labrador Iron Ore Royalty Corporation owns a 15.10% stake in Iron Ore Company of Canada, giving investors exposure to iron ore mines and processing facilities in Labrador City that produce pellets and concentrates sold into global steel markets.

Operations: The company generates all of its CA$165.74 million in revenue from iron and steel related metals and mining activities in Canada.

Market Cap: CA$1.76b

Labrador Iron Ore Royalty provides direct exposure to a key industrial commodity at a time when supply disruptions and inflation concerns are putting fresh attention on materials producers. The stock is backed by high current profit margins and a forecast earnings growth rate of 25.81% per year that is ahead of the broader Canadian market. At the same time, the P/E of 18.7x sits below many peers, and analysts expect return on equity to reach about 30% in three years. Investors do need to weigh risks such as a dividend that is not well covered by earnings or free cash flow, recent earnings declines, and reliance on external borrowing. Those pressures may be part of the reason this royalty vehicle is attracting renewed interest as commodity volatility builds.

High profit margins, a P/E of 18.7x, and a 25.81% forecast earnings growth rate could be masking a very different risk reward profile beneath this royalty structure. The 1 key reward and 1 important major warning sign might change how you see it

National Energy Services Reunited (NESR)

Overview: National Energy Services Reunited provides oilfield services across the Middle East and North Africa, helping national and international producers drill, complete, and maintain wells, manage production, and handle water and safety systems. Its offering spans hydraulic fracturing, drilling rigs, well testing, chemicals, and environmental services, tying the company closely to regional oil and gas activity.

Operations: The company generates about US$869 million from Production Services and US$557 million from Drilling and Evaluation Services, with revenue heavily focused on Middle East and North Africa projects.

Market Cap: US$2.43b

Investors looking at commodity exposure may find NESR interesting because it sits at the heart of Middle East oil supply. Any disruption that supports higher prices can translate into more activity for its rigs, fracturing fleets, and production services. Analysts are currently forecasting revenue and earnings growth, citing multi year contracts with national oil companies and a backlog that extends toward 2030. Recent news highlights record quarterly revenue, a planned dividend, and a share buyback program. The trade off is meaningful reliance on MENA customers, relatively high capital needs, and a P/E above the sector average, all of which may matter if growth or oil demand slows.

NESR’s growth story is tied to long term oilfield contracts, but the full picture sits in the analyst forecasts for National Energy Services Reunited that could reveal whether today’s optimism is missing one crucial twist.

Paladin Energy (ASX:PDN)

Overview: Paladin Energy is a uranium focused miner and developer that owns the Langer Heinrich mine in Namibia and exploration assets in Australia and Canada, giving investors exposure to nuclear fuel used in global power generation.

Operations: The company currently generates about US$248.5 million in revenue from its Namibian operations.

Market Cap: A$4.21b

Paladin operates at the intersection of rising energy security concerns and renewed interest in nuclear power, which is drawing more attention as oil markets face disruption risk and inflation stays in focus. The company recently moved from losses to slim profits, with Q3 2026 net income of US$0.779 million on US$70.7 million of sales. That growth story comes with clear risks, including a high P/S multiple, reliance on uranium prices, execution at Langer Heinrich and relatively new management. With uranium a key alternative energy commodity and Paladin holding a producing asset and a Canadian growth option, the current setup gives investors several factors to consider.

Paladin’s uranium story is accelerating, but a high P/S and fresh profits suggest the real tension sits in the analyst forecasts for Paladin Energy investors are overlooking, especially at one risk point that could flip the thesis.

The three stocks covered here are only a starting point, with the full Commodities and Natural Resource Stocks screen uncovering 26 more companies with equally compelling stories around energy security, materials supply, and inflation resilience that you have not seen yet in this article. To identify and analyze the setups that best fit your view on catalysts such as contract visibility, balance sheet strength, or commodity exposure, head to the Commodities and Natural Resource Stocks screener and filter down to the highest conviction ideas for your watchlist.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.