As reporting season rolls on, it gives the brokers plenty to work with on valuing companies.

I’ve selected three of UBS’ new research notes that look at ASX mining stocks it thinks will outperform over the next 12 months.

Let’s see who they like.

Mineral Resources Ltd (ASX: MIN)

Mineral Resources delivered its strongest ever financial result this week, posting record revenue of $6.5 billion and underlying net profit of $822 million, up 831%.

The iron ore and lithium miner also shocked the market with a much larger-than-expected dividend, paying 83 cents per share, up from nothing the previous year.

Managing director Chris Ellison said of the result:

The past 12 months stand among the most significant in MinRes’ history. Record operational and financial results reflect years of strategic investment, positioning the company to enter its third listed decade with a stronger foundation than at any point in our 20-year journey on the ASX. Onslow Iron achieved nameplate capacity of 35Mtpa in August 2025, just three years after we reached a Final Investment Decision. The speed of delivery is a demonstration of the inhouse capability we have developed across the business, with strong cash flow from the project now accelerating the deleveraging of the balance sheet.

UBS said the company beat expectations across all key metrics and had a healthy balance sheet.

They expect to see higher earnings in the current year as iron ore, lithium, and mining services all ramp up.

UBS has a $76 price target on Mineral Resources shares, compared with the current $64.09.

Capricorn Metals Ltd (ASX: CMM)

UBS said there were no real surprises in the Capricorn result, with EBITDA slightly below expectations, driven by higher corporate and exploration costs.

The gold company’s full-year sales revenue came in at $769.3 million, up 46%, while net profit was 59% higher at $327.2 million.

Capricorn also declared a 5-cent dividend, fully franked.

For FY27, the company is forecasting gold production of 137,000 to 147,000 ounces, up 18.3% on the FY26 guidance, at an all-in sustaining cost of $1900 to $2100 per ounce.

UBS has a price target of $20.25 on Capricorn shares, compared with the current price of $17.42.

Lynas Rare Earths Ltd (ASX: LYC)

Lynas’ net profit of $222.4 million came in below expectations, on record revenue of $977.9 million.

The company also received a record price across all of its rare earths products.

The company is ramping up production across various assets and investing heavily in its Towards 2030 growth strategy, for which the company raised $932 million in new equity during the year.

UBS has a $22.50 price target on Lynas shares, compared with the current $16.19.

The post 3 ASX mining stocks UBS rates as a buy appeared first on The Motley Fool Australia.

More reading

• 9 ASX 200 shares with strengthened buy ratings this week
• Here are the top 10 ASX 200 shares today
• Mineral Resources just delivered a surprise dividend. Here’s how much
• Mineral Resources shares jump 5% today: Buy, sell or hold?
• Why Wesfarmers, Mineral Resources and Qantas shares are turning heads on Thursday

Motley Fool contributor Cameron England 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 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.

The S&P/ASX 200 Index (ASX: XJO) is back in positive territory on Friday.

At the time of writing, the benchmark index is up 0.26% to 9,061 points after closing 0.98% lower at 9,038 points on Thursday.

That leaves the market around 2.5% below its record high of 9,296 points reached earlier this month, although it is still holding above the 9,000 mark.

So, what’s helping the ASX 200 move higher today?

Tech stocks are leading the rebound

Technology shares are doing much of the heavy lifting today after a strong night on Wall Street.

Nvidia Corp (NASDAQ: NVDA) shares jumped 8.7% after investors welcomed the company’s latest quarterly results and outlook. The move added around US$442 billion to the chipmaker’s market value in a single session.

That helped push the Nasdaq Composite Index (NASDAQ: .IXIC) 1.6% higher, while the S&P 500 Index (SP: .INX) gained 0.7%, with technology easily the strongest-performing sector.

That strength has flowed through to the local market, with some of the ASX’s biggest tech shares among Friday’s strongest performers.

Xero Ltd (ASX: XRO) shares are up 8.28% to $88.50, and Pro Medicus Ltd (ASX: PME) shares have climbed 3.93% to $186.28.

The banks are also lending a hand. Commonwealth Bank of Australia (ASX: CBA) shares are up 0.87% to $156.31, while National Australia Bank Ltd (ASX: NAB) shares have risen 1.05% to $38.38.

The gains are fairly broad across the market as well, with 103 ASX 200 companies trading higher, 89 lower, and 8 unchanged.

There are still a few big stocks moving the other way though. Rio Tinto Ltd (ASX: RIO) shares are down 1.28% to $176.41, Woolworths Group Ltd (ASX: WOW) shares are 1.19% lower at $39.08, and CSL Ltd (ASX: CSL) shares have fallen 1.08% to $172.01.

Rate hike concerns haven’t disappeared

Today’s rise doesn’t mean investors have stopped worrying about interest rates.

The latest ABS figures showed annual inflation eased to 3.5% in July, although trimmed mean inflation remained higher at 3.6%.

Household spending also jumped, rising 1.1% in July and 7% over the year. That has kept the possibility of another RBA rate hike on the table for now.

Westpac chief economist Luci Ellis said the latest inflation numbers have increased the risk of another hike, but she doesn’t think the RBA has seen enough yet to make that call.

She sees November as a more likely time for a move than September, with the RBA still set to receive more data on jobs, spending, and inflation before deciding what comes next.

What should investors watch?

The ASX 200 has found some support after falling for 2 straight sessions, although it is still sitting below the 9,296-point record high reached on 6 August.

From here, investors will be watching to see whether today’s tech-led rebound can build into something broader and carry into next week.

Interest rates are still likely to have the biggest say in where the market heads next.

The post Why the ASX 200 is pushing higher as rate hike fears grow appeared first on The Motley Fool Australia.

More reading

• 5 things to watch on the ASX 200 on Friday
• Should I buy BHP shares before the end of August?
• 37 ASX shares going ex-dividend next week
• Here are the top 10 ASX 200 shares today
• Why is the ASX 200 falling to a 4-day low today?

Motley Fool contributor Aaron Teboneras 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 CSL, Nvidia, and Xero. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Pro Medicus. The Motley Fool Australia has positions in and has recommended Xero. The Motley Fool Australia has recommended CSL, Nvidia, and Pro Medicus. 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 0.3% higher at 9,061.6 points on the second last day of earnings season.

This week, brokers indicated continued confidence in several ASX 200 shares.

Let’s check them out.

Coles Group Ltd (ASX: COL)

The Coles share price is $23.40, down 1.4% today and down 3% over 12 months. 

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

Morgan Stanley renewed its buy rating on Coles shares this week.

The broker has a 12-month price target of $25.

This suggests a potential 6% upside ahead.

Mineral Resources Ltd (ASX: MIN)

The Mineral Resources share price is $64.35, down 1.6% today and up 74% over 12 months. 

Over the past month, this ASX 200 mining share has soared 21%.

Bell Potter renewed its buy rating on Mineral Resources shares today.

The broker has a $75 target, which implies a 15% upside ahead.

Woolworths Group Ltd (ASX: WOW)

The Woolworths share price is $39.04, down 1.3% today and up 38% over 12 months.

This ASX 200 supermarket share has fallen 2% over the past month.

Morgans reiterated its buy rating on Woolworths shares with a price target of $43.50.

This implies potential capital gains of 11% ahead.

Centuria Capital Group (ASX: CNI)

The Centuria Capital share price is $1.18, down 1.3% today and down 52% over 12 months. 

Over the past month, this ASX real estate investment trust (REIT) has slumped 22%.

UBS maintained its buy rating on Centuria Capital shares today.

The broker lowered its target from $2.11 to $1.80, suggesting a 52% upside ahead.

Paladin Energy Ltd (ASX: PDN)

The Paladin Energy share price is $11.77, down 2.6% today and up 62% over 12 months.

Over the past month, this ASX 200 uranium share has ripped 28% higher.

Jefferies reaffirmed its buy rating on Paladin Energy shares yesterday.

The broker raised its price target from $12.50 to $14.50.

This suggests a potential 22% upside ahead.

NextDCLtd (ASX: NXT)

The NextDC share price is $14, up 3.1% today and up 2% over 12 months.

This ASX 200 tech share has increased 6% over the past month.

UBS renewed its buy rating on NextDC shares today with a $22.55 target.

This implies potential capital growth of 61% over the next year.

Droneshield Ltd (ASX: DRO)

The Droneshield share price is $1.76, down 1.7% today and down 46% over 12 months.

Over the past month, this ASX 200 industrials share has fallen 2.5%.

Bell Potter renewed its buy rating on Droneshield shares this week.

The broker shaved its 12-month price target from $2.50 to $2.40.

This suggests a potential 35% upside ahead.

WiseTech Global Ltd (ASX: WTC)

The WiseTech share price is $41.89, up 6% today and down 58% over 12 months.

This ASX 200 tech share has risen 21% over the past month.

Morgans reiterated its buy rating on Wisetech shares this week.

The broker cut its target price from $67 to $62.50.

This implies a potential 49% upside ahead.

Qantas Airways Ltd (ASX: QAN)

The Qantas share price is $9.54, down 1.2% today and down 21% over 12 months. 

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

Morgan Stanley retained its buy call on Qantas shares today.

The broker raised its target from $12.50 to $12.80.

This suggests a potential 33% upside ahead.

The post 9 ASX 200 shares with strengthened buy ratings this week appeared first on The Motley Fool Australia.

More reading

• Buy, hold, sell: Ramsay Health Care, PLS Group, Woolworths shares
• 3 ASX 200 stocks, including Paladin Energy, storming higher on earnings results this week
• WiseTech shares are bouncing back. Is it time to buy?
• Are DroneShield shares a buy after dropping almost 50% in 2026?
• Buy, hold, sell: Domino’s, Flight Centre, and WiseTech shares

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 DroneShield, Jefferies Financial Group, and WiseTech Global. The Motley Fool Australia has positions in and has recommended WiseTech Global. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.