Two that Bell Potter believes are among the best to buy right now are listed below. Here's why it is bullish on these ASX 200 mining shares:
Mineral Resources Ltd (ASX: MIN)
Bell Potter sees Mineral Resources as an ASX 200 mining share to buy now. It has a number of projects across several commodities, but the jewel in the crown is arguably the world-class Wodgina lithium operation in Western Australia.
It is partly because of Wodgina that the broker is so positive on the company. It explains:
Our Buy view is underpinned by MIN's earnings diversification, strong insider ownership, clearly articulated strategies, expertise in contracting and internal growth options at Onslow as well as potential lithium expansions including into downstream. All up, MIN offers diversified exposure to steady income streams from the contracting business and market-driven commodity exposure coupled with earnings derived from both lithium and iron ore.
Bell Potter has a buy rating and a $90 price target on the company's shares. This implies a potential upside of 50% for investors.
Regis Resources Ltd (ASX: RRL)
If you want exposure to gold, then Regis Resources could be the ASX 200 mining share to do it with. Bell Potter likes the miner due to its Australian asset base and organic growth opportunities.
The broker also sees Regis Resources as a potential takeover target in the current environment. It said:
As one of the largest ASX listed gold producers, we are attracted to its all- Australian asset portfolio and organic growth options which are unique at this scale. Furthermore, we see key opportunities in the fundamental, medium-term outlook and, in our view, these may also make RRL an appealing corporate target in the current conducive M&A environment.
Bell Potter has a buy rating and a $2.31 price target on its shares. This suggests an upside of 23% is possible for investors over the next 12 months.