Looking for opportunities among ASX mining shares?
In this article, we canvas four stocks that have attracted buy recommendations from various top brokers.
Let's check them out.
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4 ASX mining shares on these experts' buy lists
BHP Group Ltd (ASX: BHP)
Arthur Garipoli of Seneca Financial Solutions has a buy recommendation on BHP shares.
Garipoli told The Bull:
The share price has fallen from $50.54 on January 2 to trade at $40.335 on August 29. Investors have been concerned about softer iron ore prices and slowing growth in China. We believe the shares have been oversold. In our view, the weaker price provides an attractive entry level for the long term and an opportunity to collect the final dividend.
The BHP share price is up 0.7% to $38.91 apiece on Thursday.
BHP is the biggest iron ore stock on the market. Its northward move today is likely a result of the iron ore price rising 1.87% overnight to US$100.55 per tonne. The commodity's value has fallen significantly in 2024. It began the year above US$140 per tonne but has dropped due to softer demand from China.
Northern Star Resources Ltd (ASX: NST)
Bell Potter has initiated coverage on ASX gold mining share Northern Resources with a buy rating. The broker has a 12-month share price target of $17.50.
Northern Star shares are currently $14.51, down 0.24%.
The stock has benefited from a rising gold price this year. Last month, gold rose above US$2,500 per ounce for the first time, reaching a new record level of US$2,537.80.
In its FY24 results, Northern Star reported record cash earnings of $1.81 billion, up 48% from FY23. The ASX mining share will pay an unfranked final dividend of 25 cents per share, up 61%.
Resolute Mining Ltd (ASX: RSG)
Michael Gable of Fairmont Equities has a buy recommendation on another ASX gold mining share, Resolute Mining.
Gable told The Bull:
I remain bullish on gold due to central banks buying more of it amid the prospect of lower interest rates. This gold producer's second quarter report in fiscal year 2024 beat market expectations. Production is growing strongly and net cash is climbing. The stock has been trending higher and we expect more upside moving forward.
Resolute Mining shares are currently 66 cents, up 4.8%.
Arcadium Lithium CDI (ASX: LTM)
Macquarie has an outperform rating on Arcadium Lithium shares.
The broker has the ASX lithium share in its model growth portfolio with a 12-month price target of $6.60.
This implies an impressive potential uplift of 83% for investors who buy Arcadium Lithium shares at the current price of $3.61, up 1.12%.
