ASX mining shares remain on an upward trajectory despite the broader market weakening in 2026.

The S&P/ASX 300 Metal & Mining Index (ASX: XMM) is up 11% in the calendar year to date (YTD).

Meanwhile, the broader S&P/ASX 300 Index (ASX: XKO) has slipped 1% YTD.

ASX mining shares have continued to outperform in 2026 after an incredible run last year.

Strong commodity prices continue to boost the miners amid significant global geopolitical and economic challenges.

Here are three ASX mining shares that the experts say have strong upside potential.

Liontown Ltd (ASX: LTR)

The Liontown share price is 77 cents on Friday, down 3.8%.

This ASX lithium mining share has fallen 52% YTD.

Morgans has an accumulate rating on Liontown shares with a 12-month target of $1.10.

This suggests more than 40% potential upside over the next year.

LTR has approved the A$389m Kathleen Valley Expansion, targeting ~780ktpa of spodumene concentrate from FY30, with steady-state production in line with our expectations but unit costs above MorgansF and consensus.

Our target price falls to A$1.10ps (from A$1.40ps) on a slower FY28-FY29 ramp-up and higher near-term capex and costs, with falling lithium prices and execution now the key risks.

True North Copper Ltd (ASX: TNC)

The True North Copper share price is 31 cents, down 6.2% today.

This ASX copper share has fallen 41% YTD.

True North’s flagship project is Mount Oxide, which has copper, silver, and cobalt deposits. It also owns the Cloncurry Copper Project.

Morgans has a speculative buy rating on True North Copper shares.

The broker’s 12-month target is $1.31, which implies a 322% potential upside ahead.

The broker commented:

TNC continues to build value across both hubs.

At Mt Oxide, drilling has extended Aquila’s high-grade mineralisation to ~300m depth, while Chidna adds northern strike potential.

At Cloncurry, an ~18% CCP resource uplift amid a backdrop of accelerating regional M&A reinforces the strategic value of TNC’s assets.

Global Lithium Resources Ltd (ASX: GL1)

The Global Lithium Resources share price is $1, down 1% today.

This ASX lithium mining share has ripped 64% higher YTD.

Shaw & Partners has a buy call on Global Lithium shares with a price target of $1.75.

This implies 75% potential upside over the next 12 months.

In a note, Shaw & Partners said: 

Global Lithium Resources Limited (ASX: GL1) has released its Manna-Nova Integration Study, the first quantified assessment of a streamlined development pathway that treats Manna ore at the recently acquired Nova processing plant.

By utilising Nova’s existing infrastructure ($7m acquisition) via a 135km haul route, GL1 avoids the $440m greenfield concentrator build proposed in the Dec’25 DFS.

Integrating targeted process additions onto Nova’s established brownfield foundation significantly reduces upfront capital requirements, de-risks project delivery, and accelerates the timeline to first cash flow.

The post 3 ASX mining shares with 43% to 322% upside ahead: brokers appeared first on The Motley Fool Australia.

More reading

• 9 ASX 200 shares upgraded by brokers this week
• 4 ASX shares tipped by brokers to return 18% to 96%
• Here are the top 10 ASX 200 shares today
• 3 ASX shares to buy amid a volatile market: experts
• Morgans tips 290% upside for this up-and-coming ASX copper company

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.

S&P/ASX 200 Index (ASX: XJO) shares are 0.5% higher at 8,702.5 points on Friday.

Meanwhile, brokers have lifted their ratings on several ASX 200 shares this week. 

Let’s take a look.

Northern Star Resources Ltd (ASX: NST)

The Northern Star Resources share price is $24.12, up 0.4% today.

Over the past month, this ASX 200 gold share has risen 6%.

Ord Minnett upgraded Northern Star Resources shares to a buy rating on Monday.

The broker bumped up its 12-month price target from $19.70 to $25.85.

This suggests a potential 7% upside ahead.

Liontown Ltd (ASX: LTR)

The Liontown share price is 77 cents, down 3.5% today.

Over the past month, this ASX 200 lithium share has crumbled 36%.

UBS upgraded Liontown shares to a buy rating today.

The broker lowered its 12-month price target from $1.40 to $1.20.

This suggest a potential 55% upside ahead.

Rio Tinto Ltd (ASX: RIO)

The Rio Tinto share price is $161.89, down 0.1% on Friday.

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

RBC Capital upgraded Rio Tinto shares to a hold rating this week.

The broker shaved its 12-month price target from $154 to $152.

This suggests a potential 6% downside ahead.

QBE Insurance Group Ltd (ASX: QBE)

The QBE share price is $24.77, up 1.6% today.

Over the past month, this ASX 200 insurance share has ripped 13%.

Citi upgraded QBE shares to a buy rating yesterday.

The broker raised its 12-month price target from $24.20 to $26.70.

This indicates possible gains of 8% over the next year. 

Sandfire Resources Ltd (ASX: SFR)

The Sandfire Resources share price is $21.93, down 0.8% today.

Over the past month, this ASX 200 copper share has declined 4%.

UBS upgraded Sandfire Resources shares to a hold rating yesterday.

The broker has a 12-month price target of $23.30.

This implies a potential 6% upside ahead.

Lynas Rare Earths Ltd (ASX: LYC)

The Lynas Rare Earths share price is $12.57, up 1.4% today.

This ASX 200 mining share has fallen 19% over the past month.

Ord Minnett upgraded Lynas shares to a buy call with a $14 target.

This implies potential capital growth of 11% over the next year.

Hub24 Ltd (ASX: HUB)

The Hub24 share price is $64.75, up 0.6% today.

Over the past month, this ASX 200 financial share has fallen 12%.

UBS upgraded Hub24 shares to a buy rating on Wednesday.

The broker has a 12-month price target of $77.35.

This suggests a potential 19% upside ahead.

Challenger Ltd (ASX: CGF)

The Challenger share price is $10.14, up 3.5% today.

Over the past month, this ASX 200 financial share has lifted 4%.

UBS upgraded Challenger shares to a buy rating on Tuesday.

The broker has a 12-month price target of $11.50.

This suggests potential capital growth of 13% over the next year. 

IGO Ltd (ASX: IGO)

The IGO share price is $6, down 3.2% today.

Over the past month, this ASX 200 lithium share has tanked 26%.

UBS upgraded this lithium and nickel miner to a buy call today.

The broker reduced its price target from $8.85 to $8.55.

This implies a potential 42% upside ahead.

The post 9 ASX 200 shares upgraded by brokers this week appeared first on The Motley Fool Australia.

More reading

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• 5 things to watch on the ASX 200 on Wednesday
• 4 ASX shares tipped by brokers to return 18% to 96%

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 recommended Lynas Rare Earths Ltd. The Motley Fool Australia has recommended Challenger and Hub24. 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 up 0.4% to 8,697.5 points on Friday.

Since reaching a 52-week high of 9,296.7 points in August, the benchmark index has slipped 6.5%.

The ongoing US-Iran conflict, high oil prices, and rising inflation, interest rates, and bond yields have weakened the market.

But the experts see buying opportunities for the brave.

Let’s take a look at some of their reaffirmed buy calls this week.

Xero Ltd (ASX: XRO)

The Xero share price is $58.93, up 2% on Friday.

This ASX 200 tech share has fallen 18% over the past month.

Citi reiterated its buy rating on Xero shares on Wednesday.

The broker cut its price target from $113.50 to $91.55.

This implies potential capital gains of 55% ahead.

Ampol Ltd (ASX: ALD)

The Ampol share price is $44.10, up 0.9% today.

Over the past month, this ASX 200 energy share has risen 6%.

Ord Minnett reaffirmed its buy rating on Ampol shares with a 12-month target of $43.

This suggests a potential 2% downside ahead.

Rural Funds Group Ltd (ASX: RFF)

The Rural Funds share price is steady at $1.91 today.

This ASX agricultural real estate investment trust (REIT) has fallen 3% over the past month.

Bell Potter reiterated its buy rating on Rural Funds shares on Wednesday.

The broker has a price target of $2.55.

This implies potential capital gains of 33% over the next 12 months.

PLS Group (ASX: PLS)

The PLS Group share price is $3.60, down 2.7% today.

Over the past month, this ASX 200 lithium share has fallen 28%.

Macquarie renewed its buy rating on PLS shares this week.

The broker has a 12-month price target of $5.50.

This suggests a possible 53% upside ahead.

Insurance Australia Group Ltd (ASX: IAG)

The IAG share price is $8.10, up 0.8% today.

This ASX 200 financial share has risen 5% over the past month.

UBS reiterated its buy rating on IAG shares this week.

The broker lowered its 12-month target price from $9.25 to $9.10.

This implies a potential 12% upside ahead.

NextDC Ltd (ASX: NXT)

The NextDC share price is $10.32, up 0.4% today.

Over the past month, this ASX 200 tech share has tumbled 19%.

Citi renewed its buy rating on NextDC shares with a $21.15 target this week.

This suggests the stock could more than double over the next 12 months.

The post 6 ASX shares to buy in today’s weak market: experts appeared first on The Motley Fool Australia.

More reading

• Buy, hold, sell: Rural Funds Group, Imdex, Fortescue shares
• How much superannuation do I need to generate $100,000 per year in passive income?
• Here are the top 10 ASX 200 shares today
• Nextdc vs Macquarie Technology Group: Which data centre share shines brighter?
• Xero shares crash 63% in a year: Is there any upside left?

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