Happy new year!
As we all slowly get the wheels turning in 2026, brokers are also waking up from their holiday slumber.
Many are now providing a fresh outlook for the year ahead.
One such company receiving new analysis is ASX materials stock Aeris Resources Ltd (ASX: AIS).
The company is a precious metals explorer and producer. Its copper-dominant portfolio comprises four operating assets across four states.
How did this materials stock perform last year?
Like many copper shares, Aeris Resources enjoyed a stellar 2025 on the back of record global commodity prices.
At the beginning of 2025, this ASX materials stock was trading for just $0.18, and by the end of the calendar year, it had soared to $0.60.
That's a 236% rise.
But after such a stellar performance, Bell Potter believes the growth isn't finished.
In a report from the broker last week, the broker reiterated its buy recommendation.
Key approval
In Bell Potter's report, the broker said the company has been granted Development Consent for its Constellation Project by the NSW Department of Planning, Housing and Infrastructure.
The broker said this is a major permitting milestone for Constellation. It de-risks its pathway to production and its objective of commencing mining operations from mid-CY26.
The Development Consent is issued under the Environmental Planning and Assessment Act and includes the Environmental Impact Statement (EIS), representing the main hurdle for the operational plan and environmental and social impact approvals.
The broker said it anticipates this will boost production at 100% owned Tritton Copper Mine in NSW in 2HCY26.
Furthermore, higher ore grades and tonnages should drive higher production and lower costs, improving margins and cash flows for the company.
Bell Potter believes combined with current production from other sites, the new site will reinforce its status as the largest Australian copper mine not owned by a major mining company.
This will further leverage AIS' exposure to a rising copper price and it remains one of our key picks in the sector.
Broker tipping more upside
Bell Potter raised its EPS guidance in FY26: +27%, FY27: +41% and FY28: +57% on higher copper price forecasts.
It has increased its price target to $0.82 (previously $0.65), and from yesterday's closing price, this indicates an upside of 37%.
AIS is a copper-dominant producer, with its near-term outlook highly leveraged to the copper price, increasing production at Tritton and gold production at Cracow.
