Regular readers of The Motley Fool would know that during a turbulent 2022, the lone shining light has been ASX resources stocks.
While some experts think the sector has now had its run, others are picking out individual ASX mining shares for their bright outlook.
Here are two such stocks:
‘A vital role in the energy transition to renewables’
Bell Potter investment advisor Christopher Watt this week rated metals miner South32 Ltd (ASX: S32) as a buy.
“South32 is a diversified mining company with aluminium, alumina, manganese, nickel, silver and coal assets in Australia, South America and Africa,” Watt told The Bull.
“These resources play a vital role in the energy transition to renewables.”
He also sees the company cashing in on global themes of “global population growth, urbanisation and increasing demand for commodities”.
“South32 offers attractive fully franked dividends.”
Indeed, the stock is currently paying out a whopping 8.94% dividend yield.
The share price has dropped sharply since early June, losing around 30%.
According to CMC Markets, more than 15 analysts are currently rating South32 as a strong buy, while just seven deem it a hold.
The stock is certainly generating much interest at the moment. Both on Friday and Monday, it was one of the heaviest-traded ASX shares.
‘Attracting more attention’
Rumble Resources Ltd (ASX: RTR) is an ASX mining share investors don’t hear much about, but Fat Prophets chief Angus Geddes is now rating it as a buy.
“Zinc and lead is attracting more attention, as Rumble Resources proves up its Earaheedy zinc-lead project in Western Australia.
“The latest drill results confirm the prospective nature of Earaheedy, with high-grade zinc-lead assays reported.”
He added that “feeder zones” are likely to push up the future potential of the Earaheedy site.
“There’s much more exploration ahead.”
As an exploration business, Rumble does not pay out a dividend. Its share price is down more than 40% so far this year.
The post 2 ASX mining shares ready to rocket: experts appeared first on The Motley Fool Australia.
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More reading
- Morgans names the ASX 200 dividend shares to buy
- Why did the South32 share price take a beating on Tuesday?
- Why Ampol, Cann, Reliance Worldwide, and South32 shares are dropping
- Here are the 3 most heavily traded ASX 200 shares on Monday
- Why Austal, New Hope, Playside, and South32 shares are dropping
Motley Fool contributor Tony Yoo has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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