3 ASX Mining Stocks Ready to Buy Now: Experts

Resource companies were the big winners among ASX stocks in the first half of this year, before recession fears pushed them lower.

So now there are some mining stocks that are selling at a discount and still have excellent prospects.

Let’s take a look at three of these examples named by the experts this week:

A top business with cash to spend

the Rio Tinto Limited (ASX: RIO) share price has fallen more than 21% since June 8.

Baker Young Managed Portfolio Analyst Toby Grimm admits last half-year results disappointed the market.

“Some investors may have been disappointed with the conservative interim dividend of $2.67 per share,” he told The Bull.

“But the global miner has a superior core business with excess cash on its balance sheet.”

Grimm said his team expects “higher returns for investors” when full-year results are released.

“In our view, the recent share price weakness presents a buying opportunity.”

Even after all that, Rio pays out a pretty juicy dividend yield of around 10%.

Everyone loves this copper mine.

Fat Prophets CEO Angus Geddes Recognizes New Copper Producer AIC Mines Ltd Australia (ASX: A1M) is a purchase.

The company bought the Eloise mine in north Queensland from FMR Investments for $27 million late last year.

“It has the capacity to produce between 45,000 and 50,000 tons of copper and gold concentrate per year,” Geddes said.

“The current life of the mine is about eight years. AIC continues to upgrade ore deposits near the mine, adding further value to the Eloise acquisition.”

AIC shares are down 9.5% so far this year.

Geddes is not the only one who is interested in mining equipment at the moment.

According to CMC Markets, the four members of Argonaut, Jefferies, Ord Minnett and Shaw and Partners rate AIC not just as a buy, but as a strong to buy.

Money to swallow the smaller players

BHP Group (ASX: BHP) share price soared last month after it announced a fully paid dividend that would lift the yield to a whopping 11%.

But the stock has cooled 5% in the past week, opening up an opportunity for astute investors.

Marcus Today analyst Layton Membrey said the latest financial data was “strong.”

“The outlook is positive. BHP has a strong balance sheet and cash position to pursue growth.”

Although BHP’s attempt to acquire OZ Minerals Limited (ASX:OZL) went down, Membrey feels that this is not the end of the story.

“The proposal shows that BHP has the firepower for suitable acquisitions. Stay tuned for the BHP news stream.”