Editor's Notes: Charts and text have been updated with Thursday's close.
NEW YORK ( TheStreet) -- Posco (PKX), MAG Silver (MVG), Sterlite Industries (SLT), Puda Coal (PUDA), Steel Dynamics (STLD), Barrick Gold (ABX), Peabody Energy (BTU), VALE (VALE), Rio Tinto (RIO) and GoldCorp (GG) received analyst buy ratings in the range of 79%-100%. These stocks have an upside potential of up to 71%, based on analysts' consensus estimates of 12-month price targets.
Base metals kicked off to a good start this week due to heavy stocking and strong industrial demand. A descent in HSBC Flash China Manufacturing Purchasing Managers' Index in February to seven-month lows could alleviate inflationary pressures and push demand revival. Demand surge for commodities worldwide ensured upswings in most metal prices. Besides, a recovery in developed economies and a sustained push from emerging markets would augur well for mining companies.
We have identified 10 mining stocks that received average analysts' buy ratings of 90%, while Posco, Sterlite, Puda and Mag Silver have 100% buy ratings. Analysts foresee further upsides from present levels. The selected stocks have the potential to deliver 18%-71% return over the next one year and have been picked from U.K., China, India, Canada, the U.S. and Brazil.The stocks are stacked in terms of upside, great to greatest.
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