ASX mining shares are broadly higher on Tuesday, with the S&P/ASX 200 Materials Index (ASX: XMJ) up 0.32% in early trading.
Meantime, the S&P/ASX All Ordinaries Index (ASX: XAO) is 0.69% in the green.
The major ASX iron ore shares are stronger after Chinese iron ore futures lifted to their best price in more than a month overnight, rising 1.51% to US$110.84 per tonne.
Meanwhile, ASX gold shares are mixed on Tuesday, with the commodity price possibly weighing on them. The gold price is 0.60% lower at US$2,641.90 per ounce at the time of writing.
Let's take a look at some changes to broker ratings on four ASX mining shares, as per The Australian.
Ratings changes on ASX mining shares
Brokers have updated their ratings on the following ASX mining shares.
De Grey Mining Limited (ASX: DEG)
This ASX gold mining share is trading 2.69% lower at $1.92 per share in early trading.
Bell Potter has cut its rating to speculative hold with a 12-month share price target of $1.97. The price target implies that the broker thinks this ASX gold mining share is close to its full value.
Another broker, RBC, has also downgraded its rating on De Grey Mining shares.
RBA's new rating is 'sector perform'. This means it expects the gold mining share's returns to be in line with the sector average over the next 12 months.
RBC's 12-month share price target on De Grey Mining is $2 per share.
Northern Star Resources Ltd (ASX: NST)
Fellow ASX gold mining share Northern Star Resources is also lower on Tuesday. Northern Star shares are down 3.22% to $16.06 at the time of writing.
Top broker Citi has cut its rating on Northern Star Resources to neutral. Citi has a 12-month share price target of $17 on the gold miner. This implies a potential uplift of 5.85% in 2025.
Gold Road Resources Ltd (ASX: GOR)
The Gold Road Resources share price is 0.25% higher at $2.05 per share.
Top broker JP Morgan has cut its rating on the gold producer to neutral. It has a 12-month share price target of $2.10 on the stock.
IGO Ltd (ASX: IGO)
ASX lithium and nickel mining share IGO is trading 1.26% higher at $5.22 on Tuesday.
ASX lithium stocks are being boosted by a 0.26% bump in the lithium carbonate price to US$10,781.22 overnight. The commodity has moved 5.09% higher over the past 30 days.
Top broker UBS has raised its rating on IGO to buy with a 12-month price target of $5.50.
