Over 12 months, ASX mining shares have soared 29% while the S&P/ASX 300 Index (ASX: XKO) has fallen 1%.
The mining index reached a record high of 9,326.9 points on 26 August.
Higher demand for metals and minerals due to the green energy transition and strong commodity prices has contributed to the 29% rise.
This week, brokers have indicated continued confidence in several ASX mining shares by renewing their buy recommendations.
The brokers have also given each stock a 12-month price target, indicating where they think the valuation will go.
Let's take a look.
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BHP Group Ltd (ASX: BHP)
The BHP share price is $61.21, up 1% today.
Over the past month, this ASX 200 iron ore share has fallen 8%.
Morgan Stanley renewed its buy rating on BHP shares on Monday.
The broker has a 12-month price target of $68.
This suggests a potential 11% upside ahead.
Galan Lithium Ltd (ASX: GLN)
The Galan Lithium share price is 31 cents, up 3.3% today.
This ASX lithium share has fallen 23% over the past month.
Canaccord Genuity reiterated its buy rating on Galan Lithium shares on Monday.
The broker has a 12-month price target of 80 cents.
This implies potential capital gains of 158% ahead.
Minerals 260 Ltd (ASX: MI6)
The Minerals 260 share price is 88 cents, down 2% today.
Over the past month, this ASX 200 gold share has risen 1%.
Bell Potter reaffirmed its buy rating on Minerals 260 shares with a 12-month target of $1.45.
This suggests a potential 64% upside ahead.
Mineral Resources Ltd (ASX: MIN)
The Mineral Resources share price is $52.63, up 0.5% today.
This ASX 200 mining share has fallen 19% over the past month.
UBS renewed its buy rating on the stock with a $74 target.
This implies potential capital growth of 40% over the next year.
South32 Ltd (ASX: S32)
The South32 share price is $5.04, up 0.3% today.
Over the past month, this ASX 200 mining share has fallen 2%.
Citi renewed its buy rating on South32 shares yesterday.
The broker has a $6 target, implying a potential 19% upside ahead.
Champion Iron Ltd (ASX: CIA)
The Champion Iron share price is $3.11, up 1.1% today.
This ASX iron ore share has fallen 12% over the past month.
UBS reiterated its buy rating on Champion Iron shares with a price target of $4.15.
This implies a potential 34% upside ahead.
AIC Mines Ltd (ASX: A1M)
The AIC Mines share price is 88 cents, down 2.8% today.
This ASX copper share has risen 9% over the past month.
Morgans reiterated its buy rating on AIC Mines shares with a price target of $1.20.
This implies potential capital gains of 36% ahead.
