S&P/ASX 300 Metal & Mining Index (ASX: XMM) shares are up 1.1% to 8,346.6 points on Wednesday.

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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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.

S&P/ASX 200 Index (ASX: XJO) shares are 1% higher at 8,797 points on Wednesday. 

However, the market has fallen into the red over 12 months, down 0.6%, amid rising oil prices and interest rates.

The Reserve Bank of Australia (RBA) lifted the official cash rate from 4.35% to 4.6% yesterday.

Experts say another rate rise may be required in November to combat persistently high inflation.

Inflation rose from 3.5% over the 12 months to July to 4% last month, according to data released today.

Amid the market weakness, brokers have raised their ratings on several ASX shares this week.

Let’s see a sample. 

Capricorn Metals Ltd (ASX: CMM)

The Capricorn Metals share price is $15.22, up 1.9% today.

Over the past month, this ASX 200 gold share has fallen 8%.

Bell Potter upgraded Capricorn Metals shares to a buy rating this week.

The broker raised its 12-month price target from $18.05 to $18.10.

This implies a potential 19% upside ahead.

Evolution Mining Ltd (ASX: EVN)

The Evolution Mining share price is $13.40, up 1% today.

Over the past month, this ASX 200 mining share has fallen 10%.

UBS upgraded Evolution shares to a buy call this week.

The broker increased its 12-month price target from $15.20 to $16.

This suggests a potential 19% gain ahead.

REA Group Ltd (ASX: REA)

The REA share price is $156.16, up 4.9% today.

Over the past month, this ASX 200 communications share has dropped 12%.

Bell Potter upgraded REA to a hold recommendation with a price target of $148.

This suggests a potential 5% downside ahead.

Healius Ltd (ASX: HLS)

The Healius share price is 42 cents, up 1.7% today.

Over the past month, this ASX 200 healthcare share has fallen 2%.

RBC Capital upgraded Healius shares to a hold rating with a 12-month price target of 42 cents.

This implies the stock is fully valued.

Alliance Aviation Services Ltd (ASX: AQZ)

The Alliance Aviation Services share price is 54 cents, up 6.9% today.

Over the past month, this ASX industrials share has fallen 18%.

Morgans upgraded Alliance Aviation Services shares to a buy rating on Monday.

The broker has a 12-month price target of 85 cents.

This indicates potential capital gains of 57% over the next year. 

Pinnacle Investment Management Group Ltd (ASX: PNI)

Pinnacle Investment Management shares are $13.30 apiece, down 4.7% today.

Over the past month, this ASX 200 financial share has declined 21%.

UBS upgraded the stock to a buy rating but reduced its price target from $18 to $17.

This suggest a potential 28% upside ahead.

The post 6 ASX shares upgraded by experts amid a weak market  appeared first on The Motley Fool Australia.

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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 positions in and has recommended Pinnacle Investment Management Group. The Motley Fool Australia has positions in and has recommended Pinnacle Investment Management Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The APA Group Ltd (ASX: APA) share price is in focus after announcing a new $1.3 billion majority stake in the Brigalow Peaking Power Plant, set to deliver 400MW of dispatchable energy in Queensland. A 25-year, inflation-linked agreement with CS Energy underpins project returns.

What did APA Group report?

• APA to acquire 80% majority stake in the Brigalow Peaking Power Plant for approximately $1,015 million.
• Total project cost estimated at $1,269 million, with existing balance sheet capacity to fund APA’s share.
• Returns supported by a 25-year inflation-linked hedge offtake agreement with CS Energy.
• The 400MW gas power plant will support electricity for over 150,000 homes.
• Part of APA’s broader $3.5 billion organic growth pipeline.

What else do investors need to know?

The Brigalow Peaking Power Plant will be located next to CS Energy’s Kogan Creek Power Station, boosting Queensland’s fast-start energy generation. APA will lead delivery under a construction management agreement, while CS Energy will retain a 20% interest and operate the facility once complete.

APA is also building a new gas lateral and storage pipeline, linking the plant with its Roma to Brisbane Pipeline under a separate agreement. Early works are now finished, with GE Vernova supplying turbines and Monadelphous starting main construction. Project completion is targeted for early 2029.

What did APA Group management say?

CEO and Managing Director Adam Watson said:

We are pleased to confirm this partnership with CS Energy to support Queensland’s energy security and transition.

The Brigalow project aligns with the goals of the Queensland Government’s Energy Roadmap, supporting energy reliability and affordability and demonstrating the important role the private sector can play to bring critical energy infrastructure projects to life.

The project also demonstrates momentum with our contracted power generation growth strategy as we continue to progress further opportunities to support Australia’s energy transition on both the east and west coasts.

What’s next for APA Group?

APA expects the Brigalow project to deliver returns in line with its hurdle rates and to play a vital role in supporting the energy transition. Management says the project forms part of its strategy to expand contracted power generation and strengthen national energy reliability.

Completion is slated for early 2029, with all major construction partners now engaged and works progressing. Investors can watch for further updates as APA advances its $3.5 billion growth pipeline.

APA Group share price snapshot

Over the past 12 months, APA Group shares have risen 19%, outperforming the S&P/ASX 200 Index (ASX: XJO), which has declined 1% over the same period.

View Original Announcement

The post APA Group unveils $1.3bn Brigalow Power Plant deal to underpin growth appeared first on The Motley Fool Australia.

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Motley Fool contributor Laura Stewart 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 positions in and has recommended Apa Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips. This article was prepared with the assistance of Large Language Model (LLM) tools for the initial summary of the company announcement. Any content assisted by AI is subject to our robust human-in-the-loop quality control framework, involving thorough review, substantial editing, and fact-checking by our experienced writers and editors holding appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content published by The Motley Fool Australia.