Investors that are on the hunt for mining sector exposure might want to check out the companies in this article.
That's because these ASX mining stocks have been tipped to rise strongly by analysts at Bell Potter.
Here's what the broker is saying about them:
Aeris Resources Ltd (ASX: AIS)
This copper miner could be an ASX mining stock to buy right now according to the broker.
It likes Aeris Resources due to its improved balance sheet and rising copper grades at the Tritton copper mine. Bell Potter explains:
AIS represents a copper dominant mining exposure whose primary assets are the Tritton Copper Operations in NSW, Cracow Gold Mine in QLD, Mt Colin Copper Mine in QLD. Its near-term outlook is highly leveraged to rising copper grades at the Tritton copper mine, where new high grade ore sources are driving production growth through CY24 and exploration success at Constellation is likely to sustain higher production levels over the long term. The Cracow gold mine in QLD offers an unhedged gold exposure that is highly leveraged to a rising gold price. Recent refinancings have de-risked the balance sheet and we are of the view that AIS is well positioned to deliver on its production targets.
The broker has a buy rating and 30 cents price target on its shares. This implies potential upside of 50% for investors.
Boss Energy Ltd (ASX: BOE)
Another ASX mining stock that Bell Potter has named as a buy is Boss Energy.
It is the uranium miner behind the Honeymoon and Alta Mesa projects. The broker thinks it would be a great way to gain exposure to the uranium bull market. It said:
BOE's Honeymoon project recommenced production in April-24, with first sales expected in July-24. The business over the last six months has changed somewhat, with the acquisition of a 30% interest in the Alta Mesa project with JV partner enCore energy in South Texas. We continue to see significant value in BOE, with optionality around expansion at Honeymoon via low-risk and cost regional resources at Jasons and Goulds Dam. With the inclusion of Alta Mesa, BOE boasts a geographically diversified multi-asset portfolio with several growth levers yet to be pulled, heading into a uranium bull market.
Bell Potter has a buy rating and $5.75 price target on its shares. This suggests that upside of 57% is possible from current levels.
Mineral Resources Ltd (ASX: MIN)
Bell Potter is also positive on this iron ore, energy, and lithium focused miner.
This is due largely to Mineral Resources' significant production growth plans in the coming years, which should be supportive of increasing earnings. It said:
MIN's business is undergoing considerable growth in the Iron Ore, Lithium and Energy units. Resulting production growth is forecast to increase earnings over the next two years and provide improved leverage to lithium and iron ore prices, from a lower unit cost base. We forecast that MIN's uncorrelated earnings streams, and internal design and construction capabilities, will provide a sector leading growth platform. In addition to the current growth projects, we expect further news flow late in mid-CY24 relating to future growth projects, including further expansion in iron ore and lithium businesses, as well as first developments in energy.
Bell Potter has a buy rating and $80.00 price target on its shares. This implies potential upside of almost 50% for investors.
