Morgans released a new research note on True North yesterday, followed by an exploration update from the company today.

More positive results

The company said it had completed a geophysics program at its flagship Mt Oxide project in North Queensland, and "the results have expanded the potential strike of the Aquila copper-cobalt-silver discovery and generated additional high-priority drill targets along the Mt Gordon Fault Zone''.

The company said drilling at the Aquila discovery had shown a strong correlation between "IP chargeability and conductivity anomalies and broad zones of shallow copper-cobalt-silver sulphide mineralisation''.

The new IP survey expanded the chargeability anomaly to about 500m north of current drilling, "highlighting further growth potential within the emerging copper-cobalt silver system''.

The company added:

The Phase 1 IP program has provided important targeting data to support refinement of the next drilling phase at Mt Oxide, including extension drilling at Aquila and testing of newly identified parallel structures along the broader mineralised corridor.  

True North Managing Director Andrew Mooney said:

The completion of the Phase 1 IP geophysics program marks another important step in our strategy to systematically grow the Mt Oxide Project and unlock the broader scale potential of the system. Extending the Aquila IP anomaly a further ~500 metres north has now grown the target to more than ~1.5 kilometre in strike extent, with mineralisation and geophysical anomalies remaining open along strike and at depth beyond current drilling. This is a highly encouraging result and further reinforces the significance of the new high-grade Aquila copper-cobalt-silver discovery.

Shares looking cheap

Morgans said in its research note to clients that outside of the Mt Oxide project, it expected recent drilling at the company's Cloncurry Hub project to support operations, which could produce about 9000 tonnes of copper per year.

Morgans said:

TNC offers exposure to a staged copper growth platform, combining near-term development optionality at Cloncurry with district-scale exploration leverage at Mt Oxide. We are attracted to TNC for: 1) a clearly defined three-pillar strategy across development, growth and discovery; 2) material resource growth potential at Mt Oxide; 3) exploration upside across multiple projects; 4) infrastructure-rich operating environment; and 5) experienced management with relevant base metals development and operating expertise.  

Morgans has a speculative buy rating on True North Copper and has upgraded its price target from $1.20 to $1.30 due to higher expected gold credits.

True North shares are currently changing hands for 40 cents. The company is valued at $60.9 million.

The post Morgans is tipping this ASX copper company could more than triple in value appeared first on The Motley Fool Australia.

So far this year, ASX mining shares have continued to outperform after an exceptionally strong run in 2025.

The Metal & Mining Index is up 11.8% in the year to date (YTD) while the broader S&P/ASX 300 Index (ASX: XKO) is up 3.8%.

Here are three ASX mining shares that the experts think will more than double in value over the next 12 months.

Sun Silver Ltd (ASX: SS1)

This ASX silver mining share closed at $1.87 yesterday, up 0.8%.

Sun Silver shares have fallen 1.8% in the YTD and rocketed 159% over the past 12 months.

Sun Silver owns the Maverick Springs Silver-Gold Project in Nevada, US, which is the ASX's largest pre-production primary silver project.

Canaccord Genuity has a buy rating with a 12-month price target of $4.15, suggesting a potential upside of 122%.

However, East Coast Research says Sun Silver shares could reach $6.54 within 12 months, implying a potential 250% upside.

In a note, East Coast Research said:

SS1's impressive recent 3rd Mineral Resource upgrade in under 2 years since listing places its Maverick Springs Project as a standout, strategically significant U.S. primary silver asset at a time when silver is becoming an important element of the North American / western-based secure supply chain thematic.

Here is the outlook for the silver price in 2026.

Turalco Gold Ltd (ASX: TCG)

The Turalco Gold share price closed 2.3% higher at 68 cents yesterday.

The ASX gold mining share has fallen 18.7% in the YTD and ripped 88% over the past 12 months.

Morgans retained a 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 has a 12-month share price target of $2.19. This implies a 220% potential upside over the next 12 months.

Canaccord Genuity is less ambitious.

It has a buy rating and a target of $1.45, which suggests a still impressive potential 113% capital gain over the year ahead.

Check out some 2026 gold price forecasts here.

True North Copper Ltd (ASX: TNC)

The True North Copper share price closed at 49 cents on Thursday, up 4.3%.

This ASX copper mining share has fallen 5.8% YTD but risen 32% over the past 12 months.

True North's flagship asset is the Mount Oxide exploration project, which has copper, silver, and cobalt deposits.

True North Copper also owns the Cloncurry Copper Project.

Morgans has a buy rating with a 12-month target of $1.20.

This suggests a possible 145% capital gain over the next year.

Check out Goldman Sachs' 2026 forecast for the copper price here.

The post 3 ASX mining shares tipped to double in a year appeared first on The Motley Fool Australia.

The market's largest pure-play copper share, Sandfire Resources Ltd (ASX: SFR), is up 75% over the past 12 months.

Meantime, shares in the world's largest copper producer, BHP Group Ltd (ASX: BHP), have lifted 25% over the same period.

In 2025, the copper price rose by 42%.

Last month, the red metal hit a new record above US$6.30 per pound before retreating to the high US$5 range this month.

Here are 2 ASX copper shares that are buy rated by the experts.

True North Copper Ltd (ASX: TNC)

The True North Copper share price closed at 49 cents on Friday, up 19.5% over the past year.

True North's flagship asset is the Mount Oxide exploration project, which has copper, silver, and cobalt deposits.

The current JORC mineral resource estimate (MRE) is 220 kt of copper, 5.13 Moz of silver, and 21.2 kt of cobalt.

True North Copper also owns the Cloncurry Copper Project and provided an MRE update last week.

The copper resource estimate increased 7% to 109 kt Cu and the gold resource estimate lifted 9% to 84 koz Au.

True North Copper said:

The updated MRE's provide a current technical baseline to support ongoing Cloncurry Copper Project Pre-Feasibility (PFS) study work, including evaluation of future development options and underground potential.

Morgans has a buy rating on this ASX copper share with a 12-month target of $1.20.

This suggests a possible 145% capital gain over the next year.

Aeris Resources Ltd (ASX: AIS)

The Aeris Resources share price closed at 51 cents on Friday, up 240% over 12 months.

After Aeris released its 2Q FY26 report on 29 January, Morgans maintained its accumulate rating.

The broker also lifted its 12-month price target from 60 to 70 cents.

Since then, Aeris has announced new drilling results and the acquisition of Peel Mining Ltd (ASX: PEX).

This will give Aeris ownership of Peel's South Cobar Copper Project, comprising the Mallee Bull and Wirlong mines.

Aeris Resources said the deal represented "a highly synergistic combination" of its Tritton mine with Peel's South Cobar Project.

South Cobar has a contained MRE of 10.6Mt @ 1.85% Cu for 197kt of contained Cu and is within haulage distance of Tritton.

Peel intends to demerge its other Cobar assets into a new company.

Morgans upgraded its rating from accumulate to buy on the news, commenting:

AIS is acquiring Peel Mining's (PEX) South Cobar Copper Project, extending Tritton's resource base and supporting a credible 10+ year mine life.

Mallee Bull adds high-grade, largely indicated resources, improving production visibility and enabling stronger mill utilisation, lower unit costs and enhanced operating leverage from ~FY29.

Upgrade to BUY with a A$0.70ps target price, with the transaction strengthening Tritton's long-term outlook.

The price target suggests a potential 37% upside over the next year.

The post 2 ASX copper shares to buy: experts appeared first on The Motley Fool Australia.

In 2025, the materials sector, which incorporates mining stocks, soared 32% and produced total returns, including dividends, of 36%.

It outperformed the benchmark S&P/ASX 200 Index (ASX: XJO) by more than 4:1.

And the momentum is continuing in 2026, with materials up 9.5% compared to the ASX 200, up 1.6%.

Top broker Morgans has just re-rated a bunch of ASX mining shares, so let's see what they had to say about these four names.

Regis Resources Ltd (ASX: RRL)

Morgans maintained a hold rating on this ASX gold mining share after the company released its latest quarterly report.

However, the broker raised its 12-month share price target significantly from $6.17 to $8.05 due to the runaway gold price.

The Regis Resources share price is $8, down 6.2% on Friday.

Morgans said:

RRL delivered a strong 2Q26, with group gold production of 96.6koz Au supporting record quarterly cash and bullion generation of A$255m, lifting the balance to A$930m.

The result was underpinned by stable performance at Duketon, a sharp uplift in gold sales at Tropicana and continued strength in spot gold prices.

The gold price went close to US$5,600 per ounce this week, and has risen by more than 20% in January alone.

Liontown Ltd (ASX: LTR)

Morgans kept its trim rating on Liontown shares after the lithium producer filed its second-quarter update this week.

The broker increased its 12-month share price target substantially from 89 cents to $2.

The Liontown share price is currently $1.89, down 8%.

The broker said:

2Q26 result beat expectations on production and costs.

Balance sheet de-risked following LG Energy Solution's election to convert its US$250m convertible notes into equity, removing debt and strengthening flexibility despite dilution.

Maintain TRIM with much of the near-term upside factored into its share price.

Mineral Resources Ltd (ASX: MIN)

Morgans maintained its hold rating on Mineral Resources shares after the miner released its second-quarter report.

But it also raised its 12-month share price target from $47.40 to $66.

The ASX mining share is trading at $58.68, down 3.8% on Friday.

The broker commented:

2Q26 result beat expectations across all divisions.

Lithium optionality increases in the current pricing environment, with potential to increase volumes at Mt Marion and Wodgina and re-start Bald Hill.

Deleveraging has accelerated. Net debt now sits at A$4.9bn (A$5.4bn last quarter).

Valuation appears full at 7x ND/EBITDA but strong execution, balance sheet momentum and a supportive commodity backdrop underpins ongoing exposure.

True North Copper Ltd (ASX: TNC)

Morgans has initiated coverage on this ASX copper mining share with a speculative buy rating and a price target of $1.20 per share.

The True North Copper share price is currently 58 cents, down 3.3%.

True North Copper provided a mineral resource update on its Cloncurry Copper Project this week and released its quarterly activities report today.

Morgans said:

We initiate coverage on TNC following a period of successful exploration led growth, project planning and renewed corporate strategy which importantly avoids early production commitments and debt-funded development, materially reducing financial risk relative to prior operating models employed by previous management.

TNC's strategy is structured around three pillars: develop, grow, discover with Mt Oxide providing district-scale exploration leverage through the Vero, Aquila and other emerging discoveries, and Cloncurry offering optionality around near-term development and cashflow generation.

ASX copper mining shares surged yesterday after the copper price reached a new record above US$6.30 per pound.

The post 4 ASX mining shares just re-rated by Morgans appeared first on The Motley Fool Australia.