Best ASX Mining Stocks for 2026: NST, RIO and SFR in Focus

The following three ASX miners are well positioned for value creation in 2026, supported by history of operational excellence and high commodity prices.

Northern Star Resources Limited (ASX: NST) 

has a current market capitalisation of $33.92 billion and a dividend yield of 2.32% which has put it among the top ASX mining stocks for 2026.

The company in 1H FY26 reported very good financial results because revenue increased 19% year-on-year to $3,414 million. Underlying EBITDA rose 34% to $1,876 million and underlying NPAT reached $760 million after a 49% jump.

Profitability improved clearly as EBITDA margins moved up to 55%. Underlying EPS went up 19% to 53.2 cps because of higher gold prices and operating leverage supported earnings.
The balance sheet has stood out as a key advantage since it holds a net cash position of $293 million and total liquidity of $2.7 billion which will give room for growth and shareholder returns.

FY26 outlook is solid as production guidance is set at 1.60–1.70Moz which is backed by major projects like KCGM mill expansion along with the high-quality Hemi development project.

Rio Tinto Limited (ASX: RIO) 

has a market capitalisation of $64.59 billion and will suit dividend investors more because it offers a fully franked annual yield of 3.39% which places it among the leading ASX mining stocks for 2026.
The company in 2025 reported revenue of $57.6 billion which is a 7% increase year-on-year. Underlying EBITDA also rose by 9% to $25.4 billion. This shows that performance was solid even though iron ore prices were lower than the previous period.

Cash generation stayed strong as operating cash flow increased by 8% to $16.8 billion. ROCE however fell slightly to 16% because the company invested more into-long term growth projects.
Recent developments include the completion of the Oyu Tolgoi underground project. There is also steady progress at the high quality Simandou iron ore project along with expansion into lithium through acquisitions.

A strong balance sheet along with a consistent dividend policy and a clear pipeline of growth projects place Rio Tinto in a good position for sustained shareholder value creation.

Sandfire Resources Limited (ASX: SFR)

has a current market capitalisation of $8.5 billion and is emerging as one of the top ASX mining stocks for 2026 with the help of its diversified copper production base.

The company in Q3 FY26 reported Group copper equivalent production of 34.5kt and 106.5kt for the nine months to March which shows only a 5% decline year-on-year because of temporary operational disruptions.

Performance at MATSA and Motheo faced impact from rainfall but underlying throughput and processing rates improved which signals better operational momentum into the next quarter.

A net cash position of $76 million was achieved by the company which is a major balance sheet improvement because of strong operating cash flow and disciplined capital management.

FY26 production guidance remains at 149kt to 165kt of copper equivalent which suggests a strong rebound in the June 2026 quarter as higher-grade ore access improves and operations return to normal.

(Source: Company Announcements)