ASX Mining Stocks

The following five ASX mining stocks have shown impressive progress across their operations and financial performance while their share price momentum reflects high investor confidence in their long-term potential.

5 Best ASX Mining Stocks

Hillgrove Resources Limited (ASX: HGO) 

Cobre Limited (ASX: CBE) 

Forrestania Resources Limited (ASX: FRS)

Felix Gold Limited (ASX: FXG) 

EQ Resources Limited (ASX: EQR) 

Hillgrove Resources Limited (ASX: HGO) 

Hillgrove Resources Limited is one of the best ASX Mining stocks with momentum as it has surged 23% over the past one month and current market capitalisation is $163.88 million.
The company in the March 2026 quarter achieved record copper production of 3,120 tonnes which marked the fourth straight quarter of production growth while operating mine cash flow rose 16% quarter-on-quarter to $14.6 million.

Group cash balances increased 22% to $25.2 million which significantly improved the balance sheet and quarterly revenue also moved up 5% to $53.8 million because realised copper prices rose to $16,629 per tonne.

The outlook is very positive because the company is moving towards a Stage 2 investment decision for Emily Star in H2 2026.

Cobre Limited (ASX: CBE) 

Cobre Limited is one of the strongest ASX mining stocks with momentum and currently has market capitalisation of about $223.86 million while the stock has climbed 37% over the past one month.

The company recently secured a pathway to majority ownership and operational control of the Sierra Atacama Copper Project in northern Chile which is a district-scale copper project covering about 15,500 hectares across 64 mining concessions near major copper operations such as Marimaca and Mantos Blancos.

Cobre during the March 2026 quarter completed a heavily oversubscribed $60 million capital raise which improved its balance sheet.

Investor confidence has also improved after management presented a clear multi-stage growth strategy that targets expansion towards 12,000 tonnes per annum copper cathode production over the next 12 months.

Forrestania Resources Limited (ASX: FRS)

Forrestania Resources Limited  is one of the best ASX Mining stocks with momentum and current market capitalisation is $645.7 million and the stock has surged 66% year-to-date as investors reacted positively to the company’s aggressive growth strategy.

The company recently expanded its gold inventory after completing the Hyden Gold Project acquisition which added a JORC compliant gold resource of 297,500 ounces.
Forrestania during the March 2026 quarter raised $37 million through placements and share purchase plans which significantly improved its financial position while option exercises in April 2026 added another $31.5 million.

Its outlook is highly positive because drilling campaigns at British Hill and Lady Lila are ongoing while the company continues regional consolidation across highly prospective gold belts.

Felix Gold Limited (ASX: FXG) 

Felix Gold Limited is one of the best ASX Mining stocks with momentum after the stock surged almost 40% this week and lifted its market capitalisation to about $165.9 million.

The company in the March 2026 quarter achieved several major milestones which included approval of what it believes is the only active antimony bulk-sample permit in the United States and this allows extraction of up to 1,600 tons of high-grade stibnite ore from the NW Array prospect until December 2029.

Felix Gold closed the quarter with a healthy cash balance of $14.2 million.
A dedicated U.S. refinery with planned capacity of about 5,000 tonnes per annum of antimony metal is targeted for 2027 alongside more than US$80 million in U.S. Department of Energy funding applications that are currently under review.

EQ Resources Limited (ASX: EQR) 

EQ Resources Limited is one of the best ASX Mining stocks with momentum and the stock has surged almost 9% this week because investors are gaining confidence in the company’s exposure to booming tungsten market and its production profile across Australia and Spain.

The company in Q3 FY2026 reported strong quarterly revenue of $32.7 million while cash receipts reached $19.8 million.

The tungsten market backdrop is good because prices surged nearly 240% quarter-on-quarter and about 700% year-on-year to US$2,800/mtu by 31 March 2026 amid tighter global supply chains and ongoing Chinese export restrictions.

Management is optimistic as production ramps up at Mt Carbine while higher-grade ore zones become more accessible and exploration drilling progresses across Mt Carbine and Wolfram Camp supports the company’s focus on expanding its resource base.

(Source: Company Reports)