If you're wanting some exposure to the mining sector in 2024, then it could be worth considering the two ASX mining shares named below.
These shares have recently been named as top picks by analysts at Bell Potter for investors with a high risk tolerance.
Here's why the broker is feeling bullish about them:
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Aeris Resources Ltd (ASX: AIS)
Copper miner Aeris Resources has been given the thumbs up by Bell Potter.
Its analysts are positive on the company due to its solid balance sheet and improving copper grades from the Tritton Copper Operation. It said:
AIS represents a copper dominant mining exposure whose primary assets are the Tritton Copper Operations in NSW, Cracow Gold Mine in QLD, Mt Colin Copper 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 FY24. […] Recent refinancings have de-risked the balance sheet and we are of the view that AIS is well positioned to deliver on its production targets.
Bell Potter has a buy rating and 23 cents price target on its shares. This implies 100% upside for investors from current levels.
Liontown Resources Ltd (ASX: LTR)
Another ASX mining share that has been given the seal of approval by analysts at Bell Potter is Liontown Resources.
It is the lithium developer behind the Kathleen Valley Lithium Project in Western Australia.
Bell Potter thinks very highly about the project and sees Liontown as a great share to be holding when sentiment in the lithium industry shifts. It explains:
LTR owns the Kathleen Valley (KV) lithium project in Western Australia. KV is in development and set to commence production in mid-2024, supplying into Ford, Tesla and LG Energy Solution offtake agreements. The company is funded to complete KV and has a strong cash buffer over and above remaining development and working capital requirements. We expect lithium market sentiment to improve into 2024 as EV supply chain inventories normalise. KV is highly strategic in terms of being large scale and located in a stable mining jurisdiction.
The broker has a speculative buy and $2.75 price target on its shares. This suggests that its shares could double in value over the next 12 months.
