2 ASX mining shares to buy: experts

ASX 200 materials shares rocketed 32% last year, and they're up another 14% this year.

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The ASX 200 materials sector rose by 32% last year, largely due to surging share prices for mining companies.

This year, ASX mining shares have fluctuated due to a metals sell-off in late January and the global oil shock now underway.

But overall, the miners are still on an upward trajectory, with the materials sector up 14.15% so far this year.

This compares to a 1.7% lift for the benchmark S&P/ASX 200 Index (ASX: XJO).

While the oil shock created by the war in Iran is impacting miners, the bigger picture is that Australia is at the start of a new long-term mining boom.

A multi-decade green energy transition is underway, and this was the primary driver behind last year's surge for ASX mining shares.

If you're looking for investment opportunities, here are two ASX mining shares with buy ratings from the experts today.

Three satisfied miners with their arms crossed looking at the camera proudly.

Image source: Getty Images

Nickel Industries Ltd (ASX: NIC)

The Nickel Industries share price is $1.10, up 4.8% on Thursday, and up 75% over the past 12 months.

Bell Potter has a buy rating on this ASX nickel mining share with a 12-month price target of $1.45.

The broker was impressed with the miner's 3Q FY26 report, commenting:

Combined with the re-start at Hengjaya, NIC delivered its best quarter of earnings since December 2023.

The broker elaborated:

Our key takeaway is the nickel price leverage demonstrated with this result. RKEF operations stood out, where EBITDA was up 145% from US$35m to US$86m, driven almost entirely by NPI pricing (up 19%) rather than volume (down 4%).

HNI and RNI, which were loss-making in December, both turned profitable in March.

HPAL margins lifted, with EBITDA per tonne up 20% on a 15% increase in price and after a 22% QoQ cost increase.

Catalyst Metals Ltd (ASX: CYL)

The Catalyst Metals share price is $5.36, up 4.1% today, and down 15% over the past 12 months.

Morgans has a buy rating on this ASX gold mining share with a 12-month target of $15.13.

After reviewing the miner's 3Q FY26 report, Bell Potter said:

We maintain our BUY rating, with valuation supported by strong cash generation and a clear production growth pipeline, albeit with near-term cost pressures emerging.

Catalyst reported gold production of 26.1koz at an all-in sustaining cost (AISC) of A$2,901 per ounce.

Morgans said the miner generated solid operating cash flow of A$103 million at an average realised price of A$7,014 per ounce.

CYL continues to strengthen their balance sheet, adding A$39m during the quarter to close with A$277m in cash and bullion while reinvesting heavily across growth and exploration initiatives.

Growth momentum continues across the Plutonic Belt, with multiple new ore sources advancing (Trident, K2, Old Highway) alongside a high-grade discovery at Cinnamon, supports the pathway to c.200kozpa production.

Motley Fool contributor Bronwyn Allen has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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