BHP, once known predominantly for its world-class iron ore operations, is now the world's largest copper producer.

Copper now makes up more than half of BHP's earnings amid soaring global demand for the red metal.

Copper is essential to electrification and has long been a cornerstone of construction, appliances, machinery, and industrial activity.

Its importance is growing further today due to the global green energy transition.

Copper is used in wind turbines, data centres, electric vehicles, robotics, digital telecommunications, and advanced defence systems.

In CY25, the spot copper price streaked 42% higher.

In CY26-to-date, spot copper is up another 12% to US$14,048.52 today.

The spot copper price reached an all-time high of US$14,973.58 per tonne on 9 September.

One of the key factors impacting the copper price this year has been the artificial intelligence (AI) build-out.

The copper price tends to move in line with market sentiment on AI, data centres, and geopolitical factors.

On Tuesday, Trading Economics analysts said the copper price was stronger due to easing concerns over potentially tighter Democrat-led AI industry regulations, and a lower chance of tariffs on imports.

The analysts said:

Copper benefits directly from the global AI expansion due to its essential role in data centers and power generation.

Additionally, the Democrats' sweeping midterm victory reduced the likelihood of Trump's proposed tariffs on refined copper.

Heightened demand has driven ASX copper shares higher over the past two years.

And official forecasts show the average annual copper price is set to rise this year.

Copper price predictions FY27 to FY31

In the September quarter Resources and Energy Quarterly, the Federal Department of Industry, Science, and Resources provided a five-year outlook for the copper price and scores of other commodities.

The government expects the average annual copper price to peak this financial year due to tight supply and strong demand.

Copper averaged US$11,767 per tonne in FY26.

The forecast average annual copper price for FY27 is 17% higher at US$13,754 per tonne.

As global output increases, the copper price is expected to moderate but remain above FY26 levels.

The projection for FY31 is an average annual price of US$12,786 per tonne, up 9% on the FY26 price.

This has earnings implications for ASX copper shares like BHP, Rio Tinto Ltd (ASX: RIO), and Sandfire Resources Ltd (ASX: SFR).

According to the report:

Global copper demand is expected to remain strong through to 2031, driven by demand for clean energy technologies, data centres and broader electricity infrastructure.

Supply is expected to grow gradually due to mine disruptions, trade and supply chain challenges, and delays to new mines.

Australia's export earnings are projected to rise from $14 billion in FY26 to $19 billion in FY31 due to higher copper prices and exports.

So, which stocks are brokers recommending we buy to capitalise on the copper boom?

5 ASX copper shares to buy: experts

AIC Mines Ltd (Australia) (ASX: A1M)

Morgans initiated coverage on AIC Mines shares in September with a buy recommendation.

The broker's 12-month share price target is $1.20, implying a potential 70% upside ahead.

Morgans said:

We see A1M as one of the more compelling ways to gain leverage to a structurally tight copper market, funded from its own balance sheet.

Capstone Copper Corp CDI (ASX: CSC)

Morgans has a buy rating and 12-month share price target of $17 on Capstone Copper shares.

This suggests a potential 40% upside ahead.

The broker said:

CSC delivered another record EBITDA quarter, underpinned by a higher realised copper price and record low costs at Mantoverde, which more than offset lower group volumes during a heavy planned maintenance period.

MV-O is ramping up ahead of expectations. That supports a strong 4Q26.

Develop Global Ltd (ASX: DVP)

Bell Potter has a buy call and a $5.40 target on Develop Global shares, implying a potential 40% gain ahead.

Analyst Joseph House said:

DVP offers investors strong leverage to copper, zinc and lithium prices. We view M&A activity as a potential catalyst.

True North Copper Ltd (ASX: TNC)

Morgans has a speculative buy call on True North Copper shares with a $1.31 target.

This suggests a potential 440% rise over the next 12 months.

Morgans said:

TNC continues to build value across both hubs.

At Mt Oxide, drilling has extended Aquila's high-grade mineralisation to ~300m depth, while Chidna adds northern strike potential.

At Cloncurry, an ~18% CCP resource uplift amid a backdrop of accelerating regional M&A reinforces the strategic value of TNC's assets.

Sandfire Resources Ltd (ASX: SFR)

Morgans recently upgraded Sandfire Resources shares from accumulate to buy with a $23 price target.

This implies a potential 12% upside ahead.

Morgans said:

SFR's 1Q27 result was softer than expectations but overall in-line with guidance. The quarter still ran exactly at the FY27 guidance midpoint run-rate (25% of CuEq). Production, cost and capex guidance were all maintained.

The post Copper price to peak in FY27. Here's why and which ASX shares experts rate a buy appeared first on The Motley Fool Australia.

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.

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.

The post 7 ASX mining shares with 11% to 158% upside ahead: experts appeared first on The Motley Fool Australia.

But given its very strong run over the past 12 months, investors might find better value elsewhere on the market.

The team at Bell Potter certainly thinks that is the case and is recommending one ASX copper stock to clients.

Which ASX copper stock?

The stock that has caught the eye of Bell Potter is AIC Mines Ltd (ASX: A1M).

It is a Western Australia-based copper production and exploration company focused on the 100%-owned Eloise Copper Project (ECP).

Bell Potter highlights that the ASX copper stock has announced the acquisition of the Mt Cuthbert copper project, located ~150km northwest of its Eloise operation. It said:

Mt Cuthbert is a past-producing copper mine, with infrastructure including copper oxide heap leach pads and an 8,000tpa solvent extraction and electrowinning (SX-EW) processing facility (on care and maintenance). The project also has a 64-room camp, site offices, workshops and diesel fired power generation. 

Past production includes ~17.3kt Cu cathode from oxide operations and ~5.7kt Cu in concentrate at a recovery of 92% via toll-treatment of sulphide ore at the Ernest Henry mine (2020). The project has Mineral Resources of 18.7Mt @ 1.3% Cu for 246kt Cu located entirely on granted Mining Leases within a highly prospective 2,400km2 tenement package. ~74% of the current Resource is sulphide ore, for ~180kt contained copper.

Should you invest?

According to the note, the broker has retained its buy rating on the ASX copper stock with an improved price target of $1.15 (from $1.05).

Based on its current share price of 90 cents, this implies potential upside of approximately 28% for investors over the next 12 months.

Bell Potter believes this leaves the company well-positioned to become a multi-mine copper producer. Commenting on its recommendation, the broker said:

This sets a clear strategic direction for growth for A1M to develop a second production asset and become a multi-mine copper producer. The implied acquisition valuation of the Resource compares favourably with A1M's pre-deal valuation and the infrastructure and production history de-risks the asset. 

While A1M's development strategy relies on exploration success, we view the existing Resources as highly prospective for growth and A1M's planned 60,000m drill program as aggressive. EPS changes in this report are: FY27: -26%, FY28: -30%, FY29: -23%, reflecting increased exploration expenditure and the dilution of equity issuance for the deal. We retain our Price performance Buy recommendation on a 10% higher NPV-based target price of $1.15/sh.

The post Forget BHP and buy this ASX copper stock appeared first on The Motley Fool Australia.

The energy sector is leading today, up 1%, after Iran President Masoud Pezeshkian gave a speech at the UN General Assembly.

Pezeshkian said Iran would not allow ships through the Strait of Hormuz as long as the US blockade and sanctions remained in place.

The real estate sector is the laggard today, down 1.7%, as the market continues to anticipate an 0.25% interest rate rise next week.

Meanwhile, the experts have reduced their ratings on numerous ASX shares.

Let's see a sample.

Resolute Mining Ltd (ASX: RSG)

The Resolute Mining share price is $1.20, down 2.3% today.

Over the past month, this ASX 200 gold share has fallen 11%.

Macquarie downgraded Resolute Mining shares to a hold rating on Monday.

The broker lowered its 12-month price target from $1.45 to $1.35.

This implies a potential 12% upside ahead.

Elders Ltd (ASX: ELD)

The Elders share price is $6.46, up 0.8% today.

Over the past month, this ASX 200 consumer staples share has ascended 11%.

Citi downgraded Elders shares to a hold rating this week.

The broker has a 12-month price target of $6.60.

This suggests a potential 2% upside ahead.

New Hope Corporation Ltd (ASX: NHC)

The New Hope Corporation share price is $5.84, down 0.2% today.

Over the past month, this ASX 200 coal share has fallen 1%.

Morgans downgraded New Hope shares to a hold recommendation this week.

The broker said: 

Strong run, balanced view – NHC shares have rallied 60% YTD, supported by stronger coal prices and improving market sentiment. While we remain constructive on thermal coal fundamentals, the recent share price performance may provide an opportunity for investors to crystallise some gains.

Cash surprise drives dividend beat – Strong operational delivery and a year-end cash balance of A$485m supported a fully franked 30cps final dividend, materially ahead of MorgansF (20cps) and consensus (14cps).

Operational performance exceeded expectations – NHC delivered record saleable coal production of 11.5Mt and coal sales of 11.8Mt, exceeding the top end of guidance and demonstrating the resilience of its operations despite disruptions throughout the year.

AIC Mines Ltd (ASX: A1M)

The AIC Mines share price is 88 cents, down 4% today.

Over the past month, this ASX mining share has risen 8%.

MA Financial Group downgraded this gold and copper miner to a hold rating yesterday.

The broker increased its 12-month price target from 77 cents to 89 cents.

This implies a potential 1% gain over the next year. 

The post Which ASX shares just got downgraded by brokers? appeared first on The Motley Fool Australia.

What did AIC Mines report?

• Sales revenue: $245.2 million, up 29% from FY25
• EBITDA: $108.1 million, up 71% from FY25
• Net profit after tax: $41.5 million, up 177% from FY25
• Operating cash flow: $107 million, up 110%
• Basic earnings per share: 5.27 cents (FY25: 2.60 cents)
• No dividend declared

What else do investors need to know?

AIC Mines maintained solid safety standards, with its Total Recordable Injury Frequency Rate improving from 12.0 to 5.7. The company produced 13,064 tonnes of copper and 6,621 ounces of gold in concentrate at its Eloise operation, achieving cost guidance for the third year in a row.

Development of the Jericho mine delivered 2,451 metres during the year, helping set up future growth by adding more ore sources and supporting the planned expansion of Eloise's processing plant. The business finished FY26 with $41.7 million in cash and a strengthened balance sheet, with an enlarged US$50 million Trafigura debt facility, $20 million of which remains undrawn.

What did AIC Mines management say?

Managing Director and CEO Aaron Colleran commented:

FY26 has been a transformative year with robust operational and financial results driven by solid execution at Eloise and strong advancement of the Jericho development. The new processing plant expansion is on schedule, and we're well positioned for our next phase of growth.

What's next for AIC Mines?

Looking ahead, AIC Mines will focus on commissioning the upgraded Eloise processing plant in late 2026. This expansion is expected to lift production and improve economies of scale, with the aim of producing over 25,000 tonnes of copper annually by FY29. The company also plans to continue mine development at Jericho and pursue further growth opportunities in its exploration pipeline.

AIC Mines share price snapshot

Over the past 12 months, AIC Mines shares have risen 176%, significantly outperforming the All Ordinaries Index (ASX: XAO).

View Original Announcement

The post AIC Mines net profit soars 177% as plant expansion powers growth appeared first on The Motley Fool Australia.

They've picked two gold companies and a copper company, which they think could outperform.

Let's see who they like.

Strickland Metals Ltd (ASX: STK)

Shaw and Partners has just initiated coverage on this company, which owns the Rogozna gold and base metals project in southern Serbia.

The company's shares are down about 40% over the past 12 months, but the broker thinks they could more than double from this lower base.

Shaw and Partners said the company's "substantial existing resource" of 9.3 million ounces at 1.33 grams per tonne of gold equivalent had high growth potential.

They added:

Optionality across the four Rogozna deposits could potentially allow staged entry and ramp-up of mining and processing. We expect a maiden prefeasibility study late CY27. We find the market is materially undervaluing Rogozna's deposits and overestimating current regulatory concerns. Indeed, Zijin Mining recently increased its STK ownership to 7.4%.

Shaw and Partners said regulatory and project derisking could increase their valuation to 30 cents per share, up from 20 cents, while the current share price is 8.5 cents.

The broker added:

Due to Rogozna's vast scale, STK has substantial further re-rate potential from delivering project studies and progressing towards production.

AIC Mines Ltd (ASX: A1M)

AIC recently announced guidance for the current year and a three-year growth outlook for its Eloise and Jericho copper mines.

The company said it was "an exciting time" as it transitioned from a small-scale, single-mine operation to a 1.5 million tonne per annum dual-mine operation producing 25,000 tonnes per annum of copper concentrate.

For the current year, AIC said it expected to produce 17,500 to 18,000 tonnes of copper, weighted to the second half of the year.

Guidance for the following year was for production of 20,000 to 22,000 tonnes, increasing to 25,000 to 27,000 tonnes in FY29.

Shaw and Partners has a price target of $1.10 on AIC shares, compared to the current price of 69 cents.

Aurelia Metals Ltd (ASX: AMI)

Shaw and Partners said Aurelia recently delivered "standout" results for its fourth quarter, "highlighted by gold production beating the top end of its recently upgraded guidance, generating the highest quarterly operating cash flow since 2018, and sharply improving balance sheet liquidity following the close of a new financing package''.

The broker added:

The operational turnaround, outstanding cash generation, and finalised debt structure sets a firm foundation for FY27.

Shaw and Partners has a price target of 50 cents on Aurelia shares compared to 33 cents currently.

The post 3 ASX mining companies which could return 50% to 130%: Broker appeared first on The Motley Fool Australia.

New production guidance impressing analysts

Both Bell Potter and Barrenjoey have published new research reports on AIC in the past few days, after the company announced guidance for the current year and a three-year growth outlook for its Eloise and Jericho copper mines.

The company said it was "an exciting time" as it transitioned from a small-scale, single-mine operation to a 1.5 million tonne per annum dual-mine operation producing 25,000 tonnes per annum of copper concentrate.

For the current year, AIC said it expected to produce 17,500 to 18,000 tonnes of copper, weighted to the second half of the year.

Guidance for the following year was for production of 20,000 to 22,000 tonnes, increasing to 25,000 to 27,000 tonnes in FY29.

The company added:

The Stage 2 Eloise plant expansion to 1.5Mtpa is now targeted to be completed in the December 2028 Quarter, approximately 2 years earlier than previously planned. This expansion, along with accelerated underground development at Jericho, is expected to increase copper production by a further 25% to over 25,000tpa in concentrate from FY29. No additional funding is required for the Stage 2 Eloise plant expansion or accelerated underground development at Jericho. However, the US$40 million Trafigura Prepayment Facility for the Eloise Expansion Project (currently drawn to US$30 million) has recently been expanded by US$10 million to a total US$50 million to ensure cost overruns or production delays can be managed, if required.

Bell Potter increased its price target on AIC shares following the announcement, boosting it from 90 cents to 95 cents.

The Bell Potter analysts said the accelerated stage 2 expansion was a positive and had not previously been incorporated into their modelling.

They added that the company "has a strong track record of delivering to guidance and a well-credentialed management team''.

Second broker even more positive

Barrenjoey has an even more bullish price target of $1.20 on AIC shares, compared to 64.75 cents currently.

They said regarding the announcement:

In our view the market should like the guidance and plans to grow further at reasonable costs/capex and an upsized debt facility. In the short term, FY27 is guided to be a more productive/cash generative year than we expected. We lift our FY27 production forecast by 16% to 17.5kt, at the lower end of A1M's guidance, allowing for some execution risk. This drives an uplift in our FY27 EBITDA by 9% to $181m and an increase in free cash flow by about A$40m to now be $11m (from -$33m before), which means a better balance sheet position.

The post This ASX copper producer will jump 40% to 80%, brokers say appeared first on The Motley Fool Australia.

The ASX copper stock ended the day around 18% lower at 67 cents.

What happened?

Investors were hitting the sell button following the release of the company's quarterly update, which revealed higher than expected costs at the Eloise copper mine.

Commenting on the update, Bell Potter said:

A1M has met production and cost guidance for its 3rd consecutive year. At its 100%- owned Eloise Copper Mine in QLD, A1M has reported production for the June 2026 quarter of 3,106t copper in concentrate plus 1,605oz gold at All-In-Sustaining-Costs (AISC) of A$6.15/lb (vs BPe 3,299t Cu in concentrate plus 1,389oz Au at A$4.51/lb). Compared with our numbers, this was a slight miss on copper, a beat on gold, but costs were a negative surprise and the highest reported from Eloise under A1M's ownership.

Bell Potter has also been looking at the ASX copper stock's expansion plans and is pleased with its progress. However, it concedes that AIC Mines' higher costs has raised concerns that it may have to raise capital to fund the expansion. It said:

We recently attended a site visit to Eloise and returned comfortable with the view that the mine expansion is on schedule and mill commissioning will commence as planned in the December quarter 2026. This timeline was reiterated by A1M with the June quarterly report, albeit with some non-critical-path delays. A1M will also provide an updated outlook on 20 July 2026 covering FY27, FY28 and FY29 production targets. 

We anticipate this will include an update on a staged expansion from 1.1Mtpa to 1.5Mtpa, which is already partially catered for with the current expansion to 1.1Mtpa. On our current forecasts the expansion is fully funded. However, the higher costs reported in this quarterly have caused, in our view, some in the market to question this and it being a factor in today's negative share price reaction.

Should you buy this ASX copper stock?

According to the note, the broker has retained its buy rating on AIC Mines' shares with a reduced price target of 90 cents.

Based on its current share price of 67 cents, this implies potential upside of 34% for investors over the next 12 months.

Commenting on its buy thesis, Bell Potter said:

EPS changes with this update are: FY26: -13%, FY27: -8% and FY28: -9%, on the softer June quarter, forecast higher underlying unit costs, and slightly lower production. A1M represents leveraged, unhedged copper exposure via its Eloise Copper Project with a clear, organic growth strategy being advanced. It has a strong track record of delivery to guidance and a well-credentialed management team. We retain our Buy recommendation on a lowered NPV-based target price of $0.90/sh.

The post Why this ASX copper stock could rise 30%+ in 12 months appeared first on The Motley Fool Australia.

That makes sense, the mining giant owns Oyu Tolgoi in Mongolia, which is one of the largest known copper-gold deposits in the world.

But there's another name that could be worth considering if you're looking for copper exposure according to Bell Potter.

Which ASX copper share?

The share that Bell Potter is recommending to investors is AIC Mines Ltd (ASX: A1M).

It is a copper production and exploration company focused on the 100%-owned Eloise Copper Project (ECP) in Queensland.

Bell Potter is feeling positive following a site visit to the Eloise copper mine, which is undergoing an expansion to its production capacity. It said:

We attended a recent site visit to A1M's 100%-owned Eloise copper mine in QLD. It is currently being expanded from nameplate of 725ktpa to nameplate of 1.1Mtpa. The expansion is targeting to lift Eloise's copper production from ~12-13ktpa to ~20ktpa. The expansion commenced during the September quarter 2025, with a scheduled 18- month construction period targeting commissioning in the December quarter 2026, for which it remains on schedule.

The good news is that Bell Potter believes the expansion is on target. It explains:

Based on our observations at the site visit, we are comfortable with the view that the Eloise mine expansion is on schedule and mill commissioning will commence in the December quarter 2026. Major components of the process plant are on site, including the recent installation of the ball mill onto its foundations, marking a key critical path milestone. Structural steel erection is largely complete with the crushing circuit 95% mechanically complete and dry commissioning planned for July.

Integration of the new crushing and grinding circuit with the existing circuit is well progressed, with 8 of 9 tie-ins complete. Much of the plant is sized for 1.5Mtpa throughput, providing optionality for a low-cost staged expansion later in Eloise's mine life.

Time to buy

According to the note, the broker has retained its buy rating on the ASX copper share with an improved price target of $1.00.

Based on its current share price of 70.5 cents, this implies potential upside of approximately 42% for investors over the next 12 months.

Commenting on its recommendation, the broker said:

EPS changes with this update are: FY26: -1%, FY27: +5% and FY28: +8%, on a less conservative ramp-up schedule. A1M represents leveraged copper exposure via its Eloise Copper Project with a clear, organic growth strategy being advanced. We retain our Buy recommendation and lift our NPV-based target price to $1.00/sh.

The post Forget Rio Tinto and buy this ASX copper share appeared first on The Motley Fool Australia.

Four ASX shares that are rising more than most today are listed below. Here's why they are pushing higher:

AIC Mines Ltd (ASX: A1M)

The AIC Mines share price is up 8% to 74 cents. Investors have been buying this copper miner's shares following the release of drilling results from the Jericho copper deposit in Northwest Queensland. Management advised that an eight-hole surface program of resource definition drilling at the Jolly shoot has returned high-grade copper, gold, and silver results. AIC Mines' managing director, Aaron Colleran, said: "Jericho is proving to be a great orebody – exceeding all our expectations in terms of strike extent, continuity and now grade, particularly the gold grade. The December 2026 Quarter is set to be the most exciting Quarter in AIC Mines' short history. I look forward to seeing this ore being fed into the new crusher."

Electro Optic Systems Holdings Ltd (ASX: EOS)

The EOS share price is up 2% to $8.90. This morning, this defence and space company announced that its recently acquired MARSS business has been selected as the C2 provider for the BAE Systems (LSE: BA.) Anti Threat System (BATS). It is a next-generation, counter-drone (CUAS) capability. Management believes this underscores MARSS' position as one of very few companies with the ability to deliver advanced, AI-powered C2 platforms that accelerate decision-making from minutes to seconds across detection, classification, and defeat.

Flight Centre Travel Group Ltd (ASX: FLT)

The Flight Centre share price is up 3% to $12.20. This travel agent's shares are lifting off today after the announcement of a $200 million share buyback offset an earnings guidance downgrade driven by the Middle East conflict. Flight Centre's managing director, Graham Turner, revealed that the board believes its shares are undervalued. He said: "Looking ahead, we have strong foundations and growth prospects in both the leisure and corporate sectors. This is reflected in the Board's decision to launch a new up-to-$200m buy-back – which clearly signals that we see our shares as undervalued at current levels."

Nickel Industries Ltd (ASX: NIC)

The Nickel Industries share price is up 3% to $1.01. This follows the release of an operational update from the nickel producer this morning. Management advised that adjusted EBITDA from operations in April and May was approximately US$80 million. It also notes that its RKEF operations unwound a substantial amount of working capital and expects to receive approximately US$70 million in distributions by early July.

The post Why AIC Mines, EOS, Flight Centre, and Nickel Industries shares are racing higher today appeared first on The Motley Fool Australia.

At the time of writing, the industrial base metal is trading around US$6.44 per pound.

That leaves copper prices up about 38% over the past year.

The move has also flowed through to ASX copper-related shares today.

BHP Group Ltd (ASX: BHP) is up 2.83% to $59.98, Rio Tinto Ltd (ASX: RIO) is 3.05% higher to $185.27, and Sandfire Resources Ltd (ASX: SFR) is in the green by 2.81% to $19.05.

Smaller copper names are also getting a lift, with 29Metals Ltd (ASX: 29M) jumping 10%.

Copper hits a record high

Copper has pushed further into record territory today.

According to Trading Economics, US copper futures climbed above US$6.40 per pound as supply concerns and stronger demand expectations lifted prices.

Copper is used in construction, power networks, EVs, industrial equipment, and data centres, linking it to several major spending trends.

Artificial intelligence (AI) is also adding another layer.

More data centres require more power infrastructure, and copper remains a key metal across wiring, motors, cooling systems, and grid connections.

Supply worries are adding fuel to the fire

While the demand outlook is only one side of the move, tight supply is also helping to push prices higher.

Copper is not a market that can quickly respond when buyers need more metal. New mines take years to develop, and existing operations can be affected by weather, accidents, delays, and processing issues.

That is why recent production concerns have received so much attention.

One example is the Grasberg mine in Indonesia, which is operated by PT Freeport Indonesia and is one of the world's largest copper mines. The mine has been working through a slower return to full output after a fatal mudslide last year.

There are also concerns around sulphuric acid, which is used in copper processing. Reports have pointed to tighter sulphur supply linked to Middle East disruption and China's move to restrict some exports.

ASX copper shares are in demand

For ASX investors, the most obvious names are the large miners.

BHP and Rio Tinto both have copper exposure, although they are still diversified businesses. That means copper is not the only driver of their earnings.

Sandfire gives investors more direct exposure to copper. The company has assets in Spain and Botswana, which makes its share price more sensitive to moves in the copper price.

There are also smaller companies such as 29Metals, AIC Mines Ltd (ASX: A1M), and FireFly Metals Ltd (ASX: FFM). These stocks can move more rapidly when copper rallies, but they also come with a higher risk.

The post Copper is going ballistic. Which ASX shares are riding the boom? appeared first on The Motley Fool Australia.

And while mining giant's BHP Group Ltd (ASX: BHP) and Rio Tinto Ltd (ASX: RIO) offer an easy way to do it, the upside on offer there could be limited after they recently hit record highs.

Another way could be with the ASX copper stock in this article.

Which ASX copper stock?

Bell Potter has named AIC Mines Ltd (ASX: A1M) shares as a buy this week.

It is a Western Australia-based copper production and exploration company focused on its 100%-owned Eloise Copper Project (ECP).

The broker was pleased with the ASX copper stock's recent quarterly update, highlighting that it once again met its guidance. It said:

A1M has extended its track record of meeting production and cost guidance, now established for eleven consecutive quarters. At its Eloise Copper Mine in QLD, production for the March 2026 quarter was 3,432t copper in concentrate plus 1,591oz gold at All-In-Sustaining-Costs (AISC) of A$4.18/lb (vs BPe 3,024t Cu in concentrate plus 1,591oz Au at A$4.62/lb). Lower mining volumes and mill throughput were more than offset by higher head grades as the mine plan took in higher grade zones.

A1M is tracking to beat FY26 production and cost guidance, which remains unchanged at 12.8-13.1kt Cu plus 6.0-6.5koz gold at AISC of A$4.85-A$5.25/lb. Cost inflation risks of ~A$0.40/lb-$0.50/lb have been flagged for the June 2026 quarter due to increasing diesel costs. Allowing for this, we still forecast the lower end of AISC guidance to be met or beaten.

Overall, the broker has described the performance as "excellent" and highlights that it beat guidance and its own forecasts despite inclement weather. It adds:

This was an excellent result, beating both guidance and our forecasts in a heavily rain-affected quarter that disrupted other mines and logistics in the region. A1M has built an exceptional track record of delivery, particularly for a single-asset company operating a relatively small-scale mine. The quarter also included a meaningful Resource and Reserve upgrade which has allowed us to add 18 months to our assumed life-of-mine. The new Jericho underground is progressing ahead of schedule and achieved the milestone of first ore production during the quarter.

Time to buy?

According to the note, Bell Potter has retained its buy rating on the ASX copper stock with an improved price target of 85 cents (from 80 cents).

Based on its current share price of 62 cents, this implies potential upside of approximately 37% for investors.

The broker concludes:

A1M represents leveraged copper exposure via its Eloise Copper Project with a clear, organic growth strategy being advanced. The current share price, in our view, represents attractive value for a well-managed, Australian-based copper producer. We retain our Buy recommendation on an increased, NPV-based target price rounded to $0.85/sh.

The post This ASX copper stock could be cheap compared to BHP and Rio Tinto shares appeared first on The Motley Fool Australia.

The analyst team at Shaw and Partners also has a bullish price target on the AIC Mines shares which we'll get to later.

Firstly, let's have a look at what the company announced.

Main project looking good

AIC said in a statement released at the end of March that its Eloise processing plant near Cloncurry in Queensland now had access to the largest resource base compared to any time in its 30 year history.

The combined project mineral resource increased 10% to 31.2 million tonnes of ore at a grade of 2% copper and 0.4 grams per tonne of gold, containing 631,800 tonnes of copper and 445,800 ounces of gold.

The company also said that resource extension drilling at the Jericho deposit, which is part of the greater Eloise project, showed that the ore body remained open along strike and at depth.

AIC Mines managing director Aaron Colleran said regarding the results:

Resource definition and extension drilling completed in the 2025 field season has increased resources and improved reserves at both Eloise and Jericho – again highlighting the quality of these deposits and the strong geological, geophysical, geochemical and structural understanding that our exploration and geology teams have developed. The increase in resources and reserves at Eloise and Jericho strengthens the long term outlook and underpins potential mine-life extensions and future production growth. It is a great time to own a copper mine, as global demand for copper is surging due to the rapid expansion of renewable energy, electric vehicles, and AI infrastructure projects. With copper being a crucial component in electrical wiring and hence electrification, its value is rising steadily and set to rise further, making copper mining operations more profitable than ever.

Shares looking cheap

Shaw and Partners said in a note to its clients that it was important to note that AIC's calculations were done using conservative price assumptions.

As they said:

The Ore Reserves were … calculated using a $10,500/t copper price and a $2,500/oz gold price, significantly below current spot prices of $18,400/t for copper and $6,900/oz for gold.

Shaw and Partners said catalysts for share price growth in the future would include production scaling via an underground link to new ore zones, a mill expansion which was under way, and the potential for regional consolidation.

Shaw and Partners has a $1.10 price target on AIC Mines shares, which would represent a return of more than 100% from the current level of 53.5 cents if achieved.

AIC mines is valued at $430.7 million.

The post This ASX copper company's shares could more than double: Broker appeared first on The Motley Fool Australia.

So let's have a look at the results first.

Profit surging

AIC reported revenue of $110.6 million, up 19% on the previous corresponding period, and a net profit of $17.4 million, up 114%.

The company's Eloise mine produced 6526 tonnes of copper in the first half at an all-in sustaining cost of $4.92 per pound.

The company said the result met its production and cost guidance and "was underpinned by disciplined cost control and strong gold and silver credits''.

The increase in revenue was underpinned by improved copper and gold prices during the half, with the company receiving $15,845 per tonne of copper, up from $13,576 in the previous corresponding period and $5839 per ounce of gold, up from $4506.

The company also said regarding an ongoing expansion project:

The Eloise expansion project is progressing well and although it is still early in the construction period, it remains on schedule at the end of the period. Earthworks and concrete works were well advanced during the period, with structural and mechanical construction to commence shortly in the March 2026 quarter. Detailed engineering design continues to progress well and was 70% complete at the end of the period. Engineering design work has also commenced for the stage two expansion to 1.5Mtpa.

The company is also developing the Jericho deposit, 4km south of the Eloise processing plant and said that during the half, the Jericho access drive continued, with that drive to connect the deposit directly to the Eloise decline.

The company said its financial position remained strong with $44.9 million in cash on hand at the end of the half-year period.

Shares looking cheap

Analysts from both Shaw and Partners and Bell Potter had a look at this week's results, and they all like what they see.

Shaw said in a note to clients that Eloise has had an "outstanding couple of years'' and reiterated its price target of $1.10 per share for AIC, compared with 58.5 cents currently.

The Shaw team said the demand thematic for copper would remain strong.

As they said:

Coupled with supply fragility throughout 2025 as mudslides at Grasberg and labour strikes in Chile vaporised the global supply surplus, copper market deficits appear likely in 2026 according to the International Energy Agency following decades of chronic underinvestment. In fact, we recently posited in our Copper price upgrade note … that the sheer scale of the energy transition and AI-demand all but ensures long-term structural deficits.

The Bell Potter team also likes AIC shares, increasing their price target from 67 cents to 80 cents.

They also said the company had more growth options.

AIC's regional exploration shows high potential for success across a large scale, strategic tenement package. The current share price, in our view, represents attractive value for a well-managed, Australian-based copper producer.

The post This copper company's shares are looking cheap brokers say appeared first on The Motley Fool Australia.

In particular focus, perhaps not surprisingly, is the gold sector, with the price of the precious metal hitting record highs in Australian dollar terms.

The Shaw team went on to say:

The favourable environment is further bolstered by the sector's relatively clean hedge books, operational efficiency and disciplined cost control. Bullion has surged to unprecedented levels, particularly in the latter half of 2025 and early 2026, with the average price in the six months to January 2026 up 70% compared to the same six-month period prior. For domestic producers, this translates into even higher revenues due to a favourable AUD/USD exchange rate and significantly expanded profit margins.

The Shaw team said that inflation has been a concern, but "the gold sector has demonstrated remarkable cost discipline'', with all-in sustaining costs of production relatively stable over the past four quarters.

So who do they like in the sector:

Ramelius Resources (ASX: RMS)

The Shaw team said that 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''.

Shaw believes the market is underestimating the production potential at the company's Dalgaranga project, "and given management's history of conservative forecasting, further discoveries at Cue or Magnet could easily push performance beyond current expectations''.

Shaw has a $6.50 target price on Ramelius compared with $4.34 currently.

Genesis Minerals (ASX: GMD)

The Shaw team said that Genesis' fourth quarter was "robust" with the company eliminating all debt and maintaining $629 million in liquidity.

They added:

While FY26 production guidance remains unchanged, growth capex increased to $220-$240m as Tower Hill development is fast-tracked. GMD is currently tracking toward the top of its production range and the lower end of cost estimates.

Shaw has a $10 price target on Genesis Minerals compared with $6.65 currently.

And outside of gold companies, Shaw and Partners likes the following.

AIC Mines (ASX: A1M)

The Shaw team said AIC is undergoing a "transformational'' 2026, "recently achieving a major milestone by reaching the high-grade Jericho copper deposit via a new 2.4km underground access drive''.

This development, they said, supports the ongoing expansion of the company's processing plant, with the company aiming to achieve annual production of more than 25,000 tonnes of copper.

Shaw has an 80-cent price target on AIC compared with 55 cents currently.

Paladin Energy (ASX: PDN)

This uranium producer is rapidly scaling up production, Shaw said, with a 16% quarterly increase in the December quarter at its Langer Heinrich mine in Namibia.

This meant that the company was likely to track close to the upper end of its production guidance of 4.4 million pounds.

Paladin also recently completed the acquisition of Fission Uranium, "adding the high-grade Patterson Lake South project in Canada to its global development pipeline''.

Shaw has a $10.40 price target on Paladin shares compared with $11.01 currently.

The post Four mining stocks to watch ahead of reporting season appeared first on The Motley Fool Australia.

Four ASX shares that are falling more than most today are listed below. Here's why they are dropping:

AIC Mines Ltd (ASX: A1M)

The AIC Mines share price is down almost 3% to 51.5 cents. This is despite the copper and gold miner releasing a drilling update this morning. AIC Mines has been exploring extension drilling at the Jericho copper deposit located in Northwest Queensland. Commenting on the results, AIC Mines' managing director, Aaron Colleran, said: "These results highlight the quality of the Jericho system – its continuity at depth and its significant scale. It reinforces our confidence in the long-term growth potential of this asset."

ASX Ltd (ASX: ASX)

The ASX share price is down a further 2% to $52.43. This stock exchange operator's shares have fallen this week after it committed to a strategic package of actions with ASIC. The company revealed that these commitments address the findings contained in an interim report from the expert ASIC Inquiry Panel. They are designed to deliver confidence in ASX as a provider of critical market infrastructure. One action will see the company accumulate an additional $150 million of capital above net tangible asset (NTA) value by 30 June 2027. This will then be in place until agreed milestones in the revised accelerate program are completed to the satisfaction of ASIC.

Karoon Energy Ltd (ASX: KAR)

The Karoon Energy share price is down almost 3% to $1.59. This may have been driven by weakness in oil prices overnight. Traders were selling down oil in response to positive developments with respect to Russia and Ukraine peace talks. The latter has reportedly agreed to scrap its application to join NATO.

Life360 Inc (ASX: 360)

The Life360 share price is down almost 6% to $32.71. This is despite there being no news out of the location technology company. However, with tech stocks on Wall Street being sold off amid concerns over the AI bubble, the selling appears to have spread to the ASX boards. It isn't just Life360 shares that are down today. The S&P/ASX All Technology Index is down by a disappointing 1.6% at the time of writing.

The post Why AIC Mines, ASX, Karoon Energy, and Life360 shares are falling today appeared first on The Motley Fool Australia.

But with its shares hitting a 52-week high on Friday, it may not offer much upside over the next 12 months.

For example, this week, Morgans downgraded Rio Tinto shares to a trim rating with a $117.00 price target on valuation grounds.

In light of this, investors might want to consider the ASX stock in this article as an alternative to the large cap miner.

Which ASX stock?

The stock that could offer significantly more upside than Rio Tinto shares is AIC Mines Ltd (Australia) (ASX: A1M). It is a copper production and exploration company focused on its 100%-owned Eloise Copper Project (ECP), which is located in Queensland.

According to a note out of Bell Potter, its analysts think investors should be buying its shares right now. Especially after yet another solid quarterly update. It said:

A1M has extended its track record of meeting production and cost guidance, now established for nine consecutive quarters. Its Eloise Copper Mine in QLD produced 3,324t copper in concentrate plus 1,618oz gold at All-In-Sustaining-Costs (AISC) of A$4.97/lb for the September 2025 quarter (vs BPe 3,158t Cu in concentrate plus 1,519oz Au at A$4.97/lb). This was a good improvement qoq which beat both our forecasts and guidance.

Bell Potter is expecting more of the same in the current quarter, setting it up for a strong year. It said:

This is a good start to the year for A1M and FY26 guidance is unchanged. The mine plan includes higher grades for the December quarter which should see the good production performance continue, potentially at lower costs. This is positive ahead of what can be a weather-disrupted March quarter.

Big potential returns

In response to the quarterly update, the broker has retained its buy rating on the ASX stock with an improved price target of 67 cents (from 60 cents).

Based on its current share price of 46.7 cents, this implies potential upside of 43% for investors over the next 12 months.

Commenting on its buy recommendation, Bell Potter said:

A1M represents leveraged copper exposure via its Eloise Copper Project, where a clear, organic growth strategy is being advanced. A1M's regional exploration shows high potential for success across a large scale, strategic tenement package. The current share price, in our view, represents attractive value for a well-managed, Australian-based copper producer. We retain our Buy recommendation on an NPV-based target price of $0.67/sh.

The post Rio Tinto is a solid miner, but this ASX stock could rise 40%+ appeared first on The Motley Fool Australia.

That's because the broker believes its shares could be dirt cheap at current levels.

Which ASX mining stock?

The miner that Bell Potter is feeling bullish about is AIC Mines Ltd (ASX: A1M).

It may not be as well known as mining giant Rio Tinto Ltd (ASX: RIO), but perhaps it should be getting more attention.

AIC Mines is a Western Australia based copper production and exploration company focused on the 100%-owned Eloise Copper Project (ECP).

Bell Potter notes that Eloise is an established underground copper-gold mine and processing plant targeting FY 2026 production of 12.8kt 13.1kt of copper in concentrate plus 6.0koz to 6.5koz gold.

But it isn't settling for that. It is concurrently implementing a disciplined growth strategy, developing the nearby Jericho copper deposit which was acquired in January 2023.

The broker highlights that, combined with an expanded processing plant, this supports a clear pathway to +20,000 tonnes per annum of copper production.

It also holds a strategic tenement package covering ~2,000km2 over a highly prospective region surrounding the ECP, which Bell Potter believes positions it as a strategic, foundation asset able to leverage new discoveries and third party stranded assets.

What is the broker saying about AIC Mines?

Bell Potter was pleased with the ASX mining stock's performance in FY 2025, noting that its result was slightly ahead of expectations. It said:

A1M reported an FY25 financial result slightly ahead of our expectations, with the main variation being our more conservative modelled assumptions on realised pricing and net revenues. More broadly, the result reflected a solid operating performance in-line with guidance, combined with good cost control and an improving copper price. Key metrics included revenue of $190m (vs BPe $185m), EBITDA of $63m (vs BPe $59m and statutory NPAT of $15m (vs BPe $12m).

Looking ahead, the broker believes that AIC Mines is well-positioned for growth. It adds:

The highlight of the result, in our view, is the ongoing consistency of delivery and lack of negative surprises. A1M is continuing to build on a track record of meeting guidance, operationally and financially, which should be reassuring to the market. A1M is well positioned to deliver planned production growth to ~20ktpa Cu in concentrate, ramping up from 2HFY27.

Huge potential returns

According to the note, Bell Potter has retained its buy rating and 60 cents price target on the ASX mining stock.

Based on its current share price of 33.5 cents, this implies potential upside of approximately 80% for investors over the next 12 months.

Commenting on its buy rating, the broker said:

A1M represents leveraged copper exposure through its Eloise Copper Project, where a clear, organic growth strategy is being advanced. A1M's regional exploration work also shows high potential for success across its large scale, strategic tenement package. The current share price, in our view, represents compelling value for a well-managed, Australian based copper producer. We retain our Buy recommendation on an NPV-based target price, which we round to $0.60/sh.

The post Forget Rio Tinto, this ASX mining stock could rise 80% appeared first on The Motley Fool Australia.

If you are, then it could pay to listen to what Bell Potter is saying about the ASX mining stocks in this article.

That's because the broker has just tipped them as its top picks for the year ahead. Here's why:

AIC Mines Ltd (ASX: A1M)

This copper production and exploration company could be an ASX mining stock to buy according to the broker.

It is a fan of the company's 100%-owned Eloise Copper Project (ECP) in Queensland and its experienced management team. It said:

ECP is an established underground copper-gold mine producing ~13ktpa copper and +5kozpa gold. It has a clear pathway to growth, having commenced expansion of the mine and mill to 20ktpa copper production. A1M's management team is led by Managing Director, Aaron Colleran and Chairman, Josef-El-Raghy.

Both have a strong track record of value accretive acquisition and asset development. A1M represents leveraged copper exposure and the current share price represents an excellent entry point into a well-managed, Australian based copper producer.

Bell Potter currently has a buy rating and 67 cents price target on its shares.

Aeris Resources Ltd (ASX: AIS)

Another copper miner that the broker is bullish on is Aeris Resources.

Bell Potter thinks it could be an ASX mining stock to buy due to its positive view on copper and its M&A appeal. The broker explains:

AIS represents a copper dominant mining exposure whose primary assets are the Tritton Copper Operations in NSW and the Cracow Gold Mine in QLD. Its near-term outlook is highly leveraged to rising copper grades at the Tritton copper mine, where new high grade ore sources are growing production in FY26.

The advancement of the Constellation deposit is set to sustain higher production levels over the long term. Tritton is a regionally strategic asset that, in our view, makes AIS attractive as an M&A target. The Cracow gold mine in QLD is running to plan and offers an unhedged gold exposure that is highly leveraged to a rising gold price.

Bell Potter has a buy rating and 35 cents price target on its shares.

Nickel Industries Ltd (ASX: NIC)

A final ASX mining stock that could be a buy in the 2026 financial year is nickel producer Nickel Industries.

The broker likes the Indonesia-based miner due to its low costs and strong growth outlook. It explains:

NIC's operations are located in Indonesia and are long-life, bottom-of-the cost-curve projects. In 2HCY25 we anticipate the delivery of major positive growth catalysts. These include ore production ramp-up to a 19Mtpa run-rate (pending permits) at the Hengjaya Mine and the commissioning of the ENC HPAL project in October for ramp-up to full production of +70ktpa in 1HCY26.

We expect these developments to increase production, margins and EBITDA. While nickel prices are under pressure, NIC has shown the ability to make money through the cycle which is a key attribute of attractive long-life assets.

Bell Potter has a buy rating and $1.51 price target on its shares.

The post Bell Potter names the best ASX mining stocks to buy in FY26 appeared first on The Motley Fool Australia.

So much so, earlier this year the miner failed in its attempt to acquire Anglo American with a blockbuster US$39 billion (A$59 billion) offer.

The good news is that you don't need to pay anywhere near that to gain exposure to the metal. In fact, less than 50 cents will get you one share in an ASX copper stock.

Which ASX copper stock?

The stock in question is AIC Mines Ltd (ASX: A1M). It owns the Eloise copper mine, which is a high-grade underground mine located in North Queensland.

During the last quarter, AIC Mines produced 3,213 tonnes of copper in concentrate from Eloise at an all-in sustaining cost (AISC) of A$5.05 per pound of copper sold.

This appears to have caught the eye of analysts at Bell Potter, which have just initiated coverage on the ASX copper stock.

What is the broker saying?

Bell Potter is feeling bullish about the company due to its positive production growth outlook, exploration opportunities, and its experienced management team. It said:

A1M is concurrently implementing a disciplined growth strategy, having acquired the nearby Jericho copper deposit in January 2023 and which is now being developed. Combined with an expanded processing plant it supports a clear pathway to 20,000tpa copper production. A1M also holds a strategic tenement package covering ~2,000km2 over a highly prospective region surrounding the ECP, positioning it as a strategic, foundation asset able to leverage new discoveries and third party stranded assets.

A1M's management team is led by Managing Director, Aaron Colleran and Chairman, Josef-El-Raghy. Both have a strong track record of value accretive acquisition and asset development. In our view, the team has added significant value since acquiring the ECP in a $27m cash and scrip transaction in August 2021.

Big returns

Bell Potter has initiated coverage with a buy rating and 60 cents price target. Based on its current share price of 34.2 cents, this implies potential upside of 75% over the next 12 months.

Overall, Bell Potter sees this ASX stock as a great way to gain exposure to copper. It concludes:

A1M represents leveraged copper exposure through its Eloise Copper Project which is now advancing a clear organic growth strategy. A1M is also boosting regional exploration, with high potential for success across its large scale, strategic tenement package. The current share price, in our view, represents an excellent entry point into a well-managed, Australian based copper producer. We initiate with a Buy recommendation and NPV-based target price of $0.60/sh.

The post Guess which ASX copper stock could rocket 75% higher appeared first on The Motley Fool Australia.