Looking to diversify your portfolio with some exposure to the mining sector?
If you are, then it could be worth checking out the two ASX 200 mining stocks listed below that brokers rate as buys.
Here's what they are saying about these miners:
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Coronado Global Resources Inc (ASX: CRN)
Bell Potter thinks that coal miner Coronado Global could be an ASX 200 mining stock to buy now.
The broker currently has the company's shares on its favoured list with a buy rating and $1.70 price target. This implies potential upside of approximately 87% for investors over the next 12 months.
It likes the miner due to the favourable met coal environment and its recent production and cost turnaround. It explains:
CRN's production and cost profile has reached a turning point, following substantial self-funded investment across its Australian and US operations over the past two years. The company should generate improved free cash flow and shareholder returns going forward. Our Buy recommendation is underpinned by a supply constrained met coal environment, supporting long term prices.
Northern Star Resources Ltd (ASX: NST)
Over at Morgans, its analysts think that this gold miner could be an ASX 200 mining stock to buy in September.
According to a recent note, Morgans has initiated coverage on the gold miner with an add rating and $16.90 price target on its shares. Based on its current share price of $14.83, this implies potential upside of 14% for investors over the next 12 months.
As well as being bullish on the outlook of the gold price, Morgans likes the company due to its portfolio of operations in advanced first world economies and the transformation of KCGM into a globally significant asset. It said:
Northern Star Resources (NST) is an ASX-50 listed gold miner producing ~1.6moz per annum of gold. Operating across Western Australia and North America. Production is forecast to grow to 2Moz by FY26 before increasing to 2-2.2Mozpa following the KCGM expansion. Operating margins are well leveraged to the rising price of gold, operating at an attractive cost base and margin, FY24 AISC A$1,853/oz complimented by mines exclusively in advanced first world economies. We view the price of gold to remain strong, along with NST earnings in FY25 as the company transforms KCGM into a globally significant asset. We initiate with an ADD rating with a target price of A$16.90ps and potential 12-m TSR of 17.7%, with further upside contingent on long-term gold price.
