On Thursday, 33 ASX shares hit 52-week highs and 22 of them were mining shares, including the major iron ore producers.
The BHP Group Ltd (ASX: BHP) share price rose 2.1% to a 52-week high of $45.49 per share.
The Fortescue Ltd (ASX: FMG) share price lifted 3.2% to a 52-week peak of $23.38.
The Rio Tinto Ltd (ASX: RIO) share price increased 2.6% to a 52-week high of $141.13.
Several ASX gold shares also ascended to new highs.
The Evolution Mining Ltd (ASX: EVN) share price rose 4% to an all-time high of $12.63 per share.
Emerald Resources NL (ASX: EMR) shares reached a record $5.71, up 2.9%.
Bellevue Gold Ltd (ASX: BGL) shares lifted 4.3% to a 52-week high of $1.47.
ASX silver share Andean Silver (ASX: ASL) lifted 6.8% to an all-time peak of $2.34.
Some ASX lithium shares also recorded new one-year highs today.
They included Elvira Lithium (ASX: ELV) shares, up 2.9% to $6.67, and Lake Resources NL (ASX: LKE), up 19% to 9.4 cents.
ASX copper share Hot Chili Ltd (ASX: HCH) rose 7.8% to a 52-week high of $1.25.
The S&P/ASX All Ordinaries Index (ASX: XAO) closed 0.1% higher at 8,877.5 points on Thursday.
What’s pushing ASX mining shares higher?
Stronger commodity prices are contributing to a surge in mining stocks this month.
Here is a snapshot of the strongest performers.
| Metal or mineral | Commodity price rise past month | Commodity price rise in 2025 |
| Cobalt | 7.5% | 115% |
| Silver | 17.5% | 117% |
| Platinum | 3.5% | 87% |
| Palladium | 0.1% | 67% |
| Gold | 1% | 62% |
| Neodymium | 3.5% | 45% |
| Tin | 10.5% | 37% |
| Copper | 5.5% | 34% |
| Lithium | 12.5% | 23.5% |
| Aluminium | (0.2%) | 12.5% |
| Iron Ore | 3% | 3% |
Macquarie’s take on ASX mining shares
Earlier this week, Macquarie released a note on commodities and named its preferred ASX mining shares.
Among the diversified major miners, the broker likes Rio Tinto over BHP, but prefers South32 Ltd (ASX: S32) overall.
The broker has an outperform rating on South32 shares with a 12-month price target of $3.70.
Macquarie has a neutral rating on Rio Tinto and BHP shares with price targets of $130 and $43, respectively.
The broker has an underperform rating on Fortescue shares with a price target of $19.50.
Among the gold miners, Macquarie prefers Newmont Corporation CDI (ASX: NEM) over Northern Star Resources Ltd (ASX: NST).
However, the broker has an outperform rating on both ASX gold shares with price targets of $175 and $34, respectively.
Among ASX lithium shares, the broker prefers lithium and nickel producer IGO Ltd (ASX: IGO).
The broker has an outperform rating on IGO shares with a 12-month price target of $7.50.
It also has an outperform rating on Elvira Lithium with a price target of $7.
The broker is neutral on the largest ASX lithium share, PLS Group Ltd (ASX: PLS), with a price target of $3.80.
Capstone Copper Corp CDI (ASX: CSC) is the broker’s preferred ASX copper share.
Macquarie has an outperform rating on Capstone Copper with a share price target of $17.
The post ASX mining shares dominate stocks hitting 52-week highs appeared first on The Motley Fool Australia.
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More reading
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- Why is everyone talking about BHP shares this week?
Motley Fool contributor Bronwyn Allen has positions in BHP Group and South32. 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 recommended BHP Group. 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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