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2 ASX 200 mining stocks just upgraded by top brokers

Which ASX 200 mining companies have caught the experts' attention?

Posted by
Bronwyn Allen
Bronwyn has 28 years of experience in journalism, copywriting, and media relations. She began her career as a reporter with News Corporation in Sydney in 1997. She later worked for two real estate corporations in communications and PR roles, then started her own freelance copywriting and publicity business. A keen shares investor, Bronwyn joined the Motley Fool Australia team as a copy editor and writer in June 2021.
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Key points
  • The ASX 200 finished in the green on Tuesday, up 0.54%, amid broker upgrades on two mining stocks
  • Macquarie thinks the Gold Road share price can rise 11% over the next 12 months
  • CLSA likes ASX 200 lithium and nickel miner IGO and predicts more than 7% growth over the next year 

S&P/ASX 200 Index (ASX: XJO) stocks finished up 0.54% amid broker upgrades on two mining stocks today.

As reported in The Australian, these ASX 200 mining stocks are attracting the experts' attention.

Let's take a look.

A female miner wearing a high vis vest and hard hard smiles and holds a clipboard while inspecting a mine site with a colleague.

Image source: Getty Images

Gold Road share price to rise 11% in 12 months, says Macquarie

The Gold Road Resources Ltd (ASX: GOR) share price finished up 8.57% today at $1.71.

The gold miner was among the top movers of the ASX 200 on Tuesday.

The company had no news for ASX investors today but reported its June quarter results yesterday.

Macquarie has raised its rating on Gold Road shares to outperform with a 12-month price target of $1.90. This implies a potential 11.11% upside on today's closing share price.

Jefferies has also raised the gold mining stock to a buy with a $1.80 price target.

The Gold Road share price is down 1.16% in the year to date.

Buy more IGO shares, says CLSA

Our second broker upgrade among ASX 200 mining stocks is lithium and nickel producer IGO Ltd (ASX: IGO).

The IGO share price finished the session on Tuesday at $14.24, up 3.19%.

There was no price-sensitive news from the miner today.

CLSA has upped its rating to accumulate with a $15.25 share price target. This implies a potential 7.1% upside on today's closing share price.

IGO shares are up 31.73% in the year to date.

Motley Fool contributor Bronwyn Allen has positions in Macquarie Group. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Macquarie Group. The Motley Fool Australia has positions in and 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.

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