If you don't have exposure to the mining sector or want to increase your exposure to this side of the market, then read on.
That is because listed below are five top ASX mining stocks that brokers have given the thumbs up to this month.
In addition, making things even sweeter for investors, all five shares have been tipped to rise more than 10% from current levels over the next 12 months.
Let's now see what these brokers are expecting from the five miners:
BHP Group Ltd (ASX: BHP)
The team at Goldman Sachs thinks that Australia's largest miner could be a top option for investors this month. The broker recently reinstated coverage on the Big Australian's shares with a buy rating and $49.00 price target. Based on its current share price of $43.74, this implies potential upside of 12% for investors over the next 12 months.
Lynas Rare Earths Ltd (ASX: LYC)
Goldman also thinks that this ASX mining stock could be a buy right now. In fact, it believes that the market is undervaluing this rare earths miner's shares. So much so, it currently has Lynas' shares on its coveted conviction list with a buy rating and $7.40 price target. This represents potential upside of 13% from where they currently trade.
Mineral Resources Ltd (ASX: MIN)
Over at Bell Potter, its analysts think that this mining and mining services company's shares would be a great pick for investors this month. The broker currently has a buy rating and $84.00 price target on its shares. Based on its latest share price, this implies significant potential upside of 23% over the next 12 months.
Rio Tinto Group Ltd (ASX: RIO)
Goldman Sachs also thinks that Rio Tinto could be an ASX mining stock to buy this month. The broker currently has a buy rating and $138.90 price target on the iron ore and copper giant's shares. This suggests that its shares could rise by 13% from current levels.
South32 Ltd (ASX: S32)
Finally, analysts at Macquarie think that diversified miner South32 could be a top ASX mining stock for investors to snap up this month. Due largely to its exposure to copper, late last month the broker reaffirmed its outperform rating on its shares with an improved price target of $4.25. Based on its current share price, this implies potential upside of almost 16% for investors over the next 12 months.
