Over 12 months, ASX mining shares have soared 29% while the S&P/ASX 300 Index (ASX: XKO) has fallen 1%.
The mining index reached a record high of 9,326.9 points on 26 August.
Higher demand for metals and minerals due to the green energy transition and strong commodity prices has contributed to the 29% rise.
This week, brokers have indicated continued confidence in several ASX mining shares by renewing their buy recommendations.
The brokers have also given each stock a 12-month price target, indicating where they think the valuation will go.
Let’s take a look.
BHP Group Ltd (ASX: BHP)
The BHP share price is $61.21, up 1% today.
Over the past month, this ASX 200 iron ore share has fallen 8%.
Morgan Stanley renewed its buy rating on BHP shares on Monday.
The broker has a 12-month price target of $68.
This suggests a potential 11% upside ahead.
Galan Lithium Ltd (ASX: GLN)
The Galan Lithium share price is 31 cents, up 3.3% today.
This ASX lithium share has fallen 23% over the past month.
Canaccord Genuity reiterated its buy rating on Galan Lithium shares on Monday.
The broker has a 12-month price target of 80 cents.
This implies potential capital gains of 158% ahead.
Minerals 260 Ltd (ASX: MI6)
The Minerals 260 share price is 88 cents, down 2% today.
Over the past month, this ASX 200 gold share has risen 1%.
Bell Potter reaffirmed its buy rating on Minerals 260 shares with a 12-month target of $1.45.
This suggests a potential 64% upside ahead.
Mineral Resources Ltd (ASX: MIN)
The Mineral Resources share price is $52.63, up 0.5% today.
This ASX 200 mining share has fallen 19% over the past month.
UBS renewed its buy rating on the stock with a $74 target.
This implies potential capital growth of 40% over the next year.
South32 Ltd (ASX: S32)
The South32 share price is $5.04, up 0.3% today.
Over the past month, this ASX 200 mining share has fallen 2%.
Citi renewed its buy rating on South32 shares yesterday.
The broker has a $6 target, implying a potential 19% upside ahead.
Champion Iron Ltd (ASX: CIA)
The Champion Iron share price is $3.11, up 1.1% today.
This ASX iron ore share has fallen 12% over the past month.
UBS reiterated its buy rating on Champion Iron shares with a price target of $4.15.
This implies a potential 34% upside ahead.
AIC Mines Ltd (ASX: A1M)
The AIC Mines share price is 88 cents, down 2.8% today.
This ASX copper share has risen 9% over the past month.
Morgans reiterated its buy rating on AIC Mines shares with a price target of $1.20.
This implies potential capital gains of 36% ahead.
The post 7 ASX mining shares with 11% to 158% upside ahead: experts appeared first on The Motley Fool Australia.
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More reading
- Here are the top 10 ASX 200 shares today
- Buy, hold, sell: Corporate Travel Management, JB Hi-Fi, BHP shares
- ASX 200 holds steady as investors brace for a big afternoon
- This ASX iron ore junior could rise more than 33% UBS says
- BHP vs Coles: Which ASX share is better for passive income?
Citigroup is an advertising partner of Motley Fool Money. Motley Fool contributor Bronwyn Allen 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 recommended BHP Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.