S&P/ASX 300 Metal & Mining Index (ASX: XMM) shares are 2.1% lower on Thursday but up 48% over the past 12 months.
Australia appears to be in a new mining boom, however, experts say this one will look very different to the last.
If you’re looking for investment inspiration, here are two ASX mining shares that brokers rate a buy today.
Torque Metals Ltd (ASX: TOR)
This ASX gold mining share is 48 cents apiece, down 4% today and up 433% over the past 12 months.
Torque Metals has been developing the Paris Gold Project in Western Australia’s goldfields region since acquiring it in 2021.
The Mineral Resource Estimate (MRE) is 2,518Kt at 3.1g/t gold for 250,000 ounces.Â
This week, Torque announced that three former Spartan Resources executives will join its new management team.
Ramelius Resources Ltd (ASX: RMS) acquired Spartan Resources in July last year.
The incoming executives at Torque Metals are Simon Lawson, who will be the non-executive chair, Craig Jones, who will be the CEO and managing director, and David Coyne, who will serve as a non-executive director.
Morgans issued a new note on the ASX gold mining share today.
The broker maintained its speculative buy rating on Torque Metals with a 12-month share price target of 90 cents.
This implies a potential 100% capital gain over the next year.
Morgans said:
The Spartan Resources team has joined Torque Metals, positioning the company to drive the next phase of high-grade growth at the 250koz Paris Gold Camp.
This is the same group who discovered and grew the Never Never and Pepper deposits from 303koz to 2,372koz Au in less than two years, ultimately transacting to RMS for A$2.5bn.
Check out some 2026 gold price forecasts here.
Nickel Industries Ltd (ASX: NIC)
The Nickel Industries share price is 90 cents on Thursday, down 3% today but up 37% over the past year.
Nickel Industries owns a portfolio of nickel mines and processing plants in Indonesia.
This week, Bell Potter retained its buy rating on this ASX nickel mining share with a $1.45 target.
This suggests a possible 61% share price lift over the next year.
Bell Potter said:
While the conflict in the Middle East is resulting in an immediate market impact to key input costs and the duration is uncertain, Bell Potter’s view is that while margins may be impacted, NIC is insulated due to its diversified nickel product suite.
The post 2 ASX mining shares with 60% to 100% potential upside: experts appeared first on The Motley Fool Australia.
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More reading
- Bell Potter is tipping this ASX small-cap to rise 65%
- 5 things to watch on the ASX 200 on Tuesday
- Guess which ASX mining stock is ‘ready to rip’ 40% higher
- Nickel Industries lifts 2026 quota, driving stronger outlook and margins
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 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.