BHP Group Ltd (ASX: BHP) and Rio Tinto Ltd (ASX: RIO) are two stocks that have rallied significantly over the past 12 months.
A combination of rising copper prices and actions taken by GM has helped both companies reach record highs. However, Aeris Resources Ltd (ASX: AIS) remains well below its previous peaks.
Bell Potter believes the disconnect presents an opportunity for investors seeking exposure to copper mining stocks in Australia. The broker just reiterated its Buy rating and held its price estimate of 90 cents.
Bell Potter shares have dropped to 40.2 cents and are looking for a 120% increase in value over the next 12 months. The investment thesis is focused on acquisitions, resource expansion, and enhanced production visibility.
Bell Potter believes Aeris Resources offers significant upside amid rising copper demand. [Courtesy: Aeris Resources]
Why Is Aeris Resources Gaining Attention Among Copper Mining Stocks Australia?
Bell Potter highlighted Aeris Resources following progress on its acquisition of Peel Mining Ltd (ASX: PEX). The Scheme of Arrangement has become effective and will deliver ownership of the Mallee Bull and Wirlong copper projects.
These assets contain a combined Resource of 10.6Mt at 1.85% Cu, holding 197kt contained copper.
Both projects lie within a 150km to 200km trucking radius of the Tritton operation. Including existing Tritton resources, Aeris Resources will control 29.5Mt at 1.73% Cu, containing 511kt copper.
Consideration comprises an all-scrip deal involving the issue of 300.0 million shares to PEX shareholders. Completion is expected on 1 July 2026. The acquisition significantly strengthens Aeris’ regional resource base.
How Will The Peel Mining Deal Support Future Growth?
Bell Potter believes the acquisition provides several strategic advantages for Aeris Resources. The broker expects the transaction to improve production certainty and extend mine life. Key benefits include:
- Expansion of the Cobar region resource inventory.
- Material extension of the Tritton mine life.
- Additional development flexibility across multiple deposits.
- Reduced production risks through resource diversification.
- Exposure to high-grade copper assets.
The broker noted that Mallee Bull remains a high-grade deposit. A maiden Ore Reserve Estimate is expected during 1QFY27. This reserve estimate will contribute to an updated life-of-mine plan for Tritton. Bell Potter believes these initiatives offer stronger operational visibility than at any stage since Tritton’s initial development.
The Peel Mining acquisition expands Aeris Resources’ copper resources near Tritton. [Courtesy: Peel mining]
What Exploration Results Could Become Key Catalysts?
Bell Potter expects several developments to support future value creation. The broker highlighted multiple exploration successes and reserve updates that could strengthen production profiles. Important catalysts include:
- An updated Ore Reserve Estimate for the Constellation deposit.
- Resource extensions at the Avoca Tank deposit.
- Further growth opportunities at Budgerygar.
- Quarterly production performance improvements.
- Increasing production rates at Tritton.
Recent drilling intersected ore-grade mineralisation significantly below the current Resource at Avoca Tank. Meanwhile, Budgerygar delivered thicker mineralisation than expected within its Inferred Resource.
These results increase confidence in the future mine life. Bell Potter said visibility around Tritton’s longevity has never been stronger since its original development phase.
Why Does Bell Potter See 120% Upside Potential?
Bell Potter retained its Buy recommendation and maintained a target price of $0.90 per share. Based on the current share price of 40.2 cents, the broker sees potential upside of 120%.
According to Bell Potter, Aeris Resources remains highly leveraged to copper prices and increasing production. The broker expects growing free cash flow and low valuation multiples to support future gains. Bell Potter also considers Tritton a strategic regional asset with corporate appeal.
The operation provides opportunities to unlock value from stranded assets. The broker identified Aeris Resources as one of its preferred picks for CY26. Near-term catalysts are expected to support valuation improvements.
Bell Potter maintains a Buy rating and 90-cent target price for Aeris Resources. [Courtesy: Bell Potter]
How Important Is Tritton To Aeris Resources’ Strategy?
Tritton remains central to Aeris Resources’ long-term growth plans. Bell Potter described the operation as a strategic regional asset with considerable appeal.
The mine offers the capacity to leverage value from surrounding deposits and stranded resources. Additional resources from Mallee Bull and Wirlong could further enhance operational efficiencies.
Bell Potter expects updated reserve estimates and development plans to strengthen production certainty. Increasing copper output could also improve free cash flow generation.
This strategy positions Aeris Resources to benefit from favourable copper fundamentals. Investors searching for copper mining stocks in Australia are increasingly focusing on companies with scalable resource bases and production growth opportunities.
Why Could ASX Investors Watch This Copper Opportunity?
Copper demand continues to benefit from electrification, infrastructure development, and energy transition trends. Aeris Resources provides investors with direct exposure to these themes.
Its expanding resource inventory and development pipeline support long-term growth potential. Bell Potter believes upcoming production updates and reserve estimates will act as key catalysts. Investors interested in broader ASX investment opportunities can also explore developments across Australia’s mining and resources sector.
With shares trading well below the broker’s target price, Aeris Resources stands out as a company offering significant leverage to copper prices and operational growth. That combination keeps the stock firmly on investors’ watchlists heading into CY26.
Global Copper Market Forecast. [Courtesy: Spherical Insights]
Also Read: BHP Shares: Is the Mining Giant Still Worth Holding for Passive Income?
FAQs
Q1: What Is Bell Potter’s Price Target For Aeris Resources?
A1: Bell Potter has maintained a target price of $0.90 per share. This implies 120% upside from the current share price of 40.2 cents.
Q2: When Will Aeris Complete The Peel Mining Acquisition?
A2: The all-scrip acquisition is expected to be completed on 1 July 2026. Aeris will issue 300.0 million shares to PEX shareholders.
Q3: How Large Will Aeris Resources’ Combined Copper Resource Be?
A3: Following the acquisition, combined resources will total 29.5Mt at 1.73% Cu. These resources contain 511kt of copper.
Q4: When Will The Mallee Bull Ore Reserve Estimate Be Released?
A4: Bell Potter expects the maiden Ore Reserve Estimate during 1QFY27. The estimate will contribute to Tritton’s updated life-of-mine plan.
Disclaimer
This article is provided for information only and is based on information that is publicly available and from brokers. It is not financial or investment advice or a recommendation. The share prices and commodity prices, as well as the fundamentals of companies, can move abruptly. Investors are advised to make investment decisions after conducting independent studies and considering their investment goals. Not all past performance is repeatable.
Source Links
- https://www.fool.com.au/2026/06/23/forget-bhp-and-rio-tinto-this-asx-copper-share-could-rise-100/
- https://www.google.com/finance/beta/quote/BHP:LON
- https://www.sphericalinsights.com/press-release/copper-market
Luke Carlino is a seasoned Copywriter, Content Strategist, and Social Media Manager specialising in Mining, Finance, and Business journalism. With more than a decade of industry experience, he brings rigorous editorial standards and commercial acuity to every project.
