The ASX 200 materials sector rose by 32% last year, largely due to surging mining shares.
Perhaps the new year is set to be just as strong, with materials already up 12.7% year-to-date, despite the recent commodities rout.
This compares to a 2.7% bump for the All Ordinaries Index (ASX: XAO) and a 3.6% lift for the S&P/ASX 200 Index (ASX: XJO).
The largest mining stock on the market, BHP Group Ltd (ASX: BHP), reached a near four-year high of $52.64 per share yesterday.
Other ASX mining shares are trading at record highs.
These include gold miner Northern Star Resources Ltd (ASX: NST) and diversified miner Rio Tinto Ltd (ASX: RIO).
If you're looking for investment ideas in the mining space, here are three stocks with buy ratings from the experts.
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Ramelius Resources Ltd (ASX: RMS)
The Ramelius Resources share price closed at $4.69 on Thursday, down 0.42% for the day and up 82% over the past year.
Shaw and Partners has a buy rating on this ASX gold mining share.
The broker's 12-month share price target is $6.50, implying a potential near-40% upside from here.
Shaw and Partners said:
Ramelius is embarking on a heavy investment phase over the next four years, yet our revised gold price outlook suggests they will maintain a robust upward trajectory in liquidity, with free cash flow yields tripling by 2030.
The market likely underestimates the production potential at Dalgaranga, and given management's history of conservative forecasting, further discoveries at Cue or Magnet could easily push performance beyond current expectations.
Check out some 2026 gold price forecasts here.
Turalco Gold Ltd (ASX: TCG)
The Turalco Gold share price closed 3.7% higher at 71 cents yesterday.
The ASX gold mining share has risen 103% over the past 12 months.
Morgans maintained its buy rating on Turalco after a visiting its Afema Gold Project in Côte d'Ivoire.
The broker commented:
Afema represents one of the largest undeveloped gold projects on the ASX, hosting a 4.06Moz resource at 1.2g/t Au.
The visit included all key resource prospects, future growth corridors, site infrastructure, core yard and a visit through the local community — reinforcing both the scale of the system and development readiness.
Morgans raised its 12-month share price target from $1.63 to $2.19, implying a potential 200%-plus upside from here.
Aeris Resources Ltd (ASX: AIS)
The Aeris Resources share price closed at 53 cents on Thursday, down 6.2% for the day but up 231% over the past year.
After the company released its 2Q FY26 report, Morgans maintained its accumulate rating
The broker also lifted its price target on the ASX copper mining share from 60 to 70 cents.
This suggests a possible 30%-plus capital gain over the next year.
The broker said:
Solid 2Q26 delivery. Cracow continues its strong performance and Tritton operated broadly to plan.
Our earnings forecasts and valuation have been upgraded to reflect the company's improved earnings outlook for the remainder of FY26 in the current copper and gold price environment.
Check out Goldman Sachs' 2026 forecast for the copper price here.
