S&P/ASX 300 Metal & Mining Index (ASX: XMM) shares are up 1.9% today and up 22% over 12 months.
By comparison, the broader S&P/ASX 300 Index (ASX: XKO) is up 1.5% today and up 3% over the year.
Resilient commodity prices are providing strong tailwinds for Australian miners today.
Here are four ASX mining shares with buy ratings and strong growth potential, according to the experts.
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Horizon Gold Ltd (ASX: HRN)
Morgans has initiated coverage on this ASX gold mining share with a buy call and a price target of $3.30.
That suggests a potential 155% upside over the next 12 months.
Morgans says Horizon's flagship Gum Creek Gold Project is a simple, de-risked development backed by robust economics.
The broker says Horizon has a defined pathway to first gold production and further exploration potential beyond the current mine plan.
Morgans said:
With the stock trading at a meaningful discount to our valuation and developer peers, we see a strong re-rating opportunity as Gum Creek advances toward first gold, targeted for 2H CY28.
PLS Group Ltd (ASX: PLS)
The PLS share price is $2.91, up 0.5% today and down 9% over 12 months.
Citi has a buy call on this ASX lithium mining share with a 12-month price target of $5.50.
This suggests a potential 90% upside ahead.
Official government forecasts show lithium prices are anticipated to surge 63% in FY27.
Catalyst Metals Ltd (ASX: CYL)
The Catalyst Metals share price is $4.53, up 1.9% today and down 39% over 12 months.
Catalyst recently released its 1Q FY27 report.
The miner revealed 22.2koz of gold produced at an all-in sustaining cost (AISC) of A$4,267 per ounce.
FY27 guidance is 90koz to 105koz at an AISC of A$3,600 to A$4,100 per ounce.
Morgans has a buy rating on this ASX gold mining share with a $9.66 target.
This suggests Catalyst Metals shares could rise by 110% over the next 12 months.
Liontown Ltd (ASX: LTR)
The Liontown share price is 69 cents, up 2.2% today and down 40% over 12 months.
Bell Potter has a buy call and a price target of $1.50 on this ASX 200 lithium mining share.
This implies a potential near-120% upside ahead.
Analyst Stuart Howe said plans to expand the company's flagship Kathleen Valley mine should lead to a re-rate.
Howe said:
We expect a value re-rate as the Kathleen Valley ramp-up and expansion are progressively derisked over the forecast period.
The company is in a strong net cash position to support the incremental and low capital intensity Kathleen Valley expansion.
Despite recent lithium price weakness, we remain positive on a medium to longer term outlook with market supply likely to disappoint against strong demand themes.
