2 ASX shares tipped by brokers to climb 110% or higher over the next 12 months

ASX shares closed in the green on Tuesday afternoon, despite the Reserve Bank's cash rate hike announcement for November. The share market was mostly dragged higher by strong gains in the ASX real estate and consumer discretionary sectors.

Here are two ASX shares that brokers expect to outperform broader indexes over the next 12 months, and they're each expected to climb over 110%.

Aeris Resources Ltd (ASX: AIS) shares

Aeris Resources is a mid-tier base and precious metals explorer and producer. The ASX miner produces copper, gold, and silver across four operating assets in Australia.

Late last week, the miner posted its quarterly activities report for the period ended 30th of September. Highlights include closing cash and receivables of $178.7 million and confirmation that its group copper equivalent production is ahead of plan, at 9.3kt for the quarter.

Production at its cornerstone 100%-owned Tritton copper and precious metals operations in NSW are tracking ahead of schedule. Meanwhile, production as its Cracow gold operation in central Queensland is on track with guidance.

The update followed an ASX note out of Aeris Resources a week earlier confirming a significant increase in Golden Plateau Mineral Resource to 200koz Au (gold) and 750koz Ag (silver). 

The increase represents a 220% increase in contained gold metal and 200% increase in contained silver metal compared to the previous mineral resource update. It also highlights potential to extend the Cracow mine life.

At the close of the ASX on Tuesday, Aeris Resources shares were down around 3% to 38 cents apiece. That's a 35% decline for the year to date.

But it looks like the shares have the potential to rebound after the company's latest updates.

Market Index data shows that all analysts have a strong buy rating on the shares. The 80 cent average target price implies a 110% potential upside ahead, at the time of writing.

Lotus Resources Ltd (ASX: LOT) shares

Lotus Resources is a uranium producer with interests in Malawi and Botswana, Africa. 

Earlier this month, the company announced that its inaugural 145k lbs uranium ore concentrate shipment left its Kayelekera site in Malawi, and is expected to arrive in France by the end of the year. Further shipments are also expected to leave the site between now and 31st of December. 

The announcement follows Lotus Resources' quarterly activities report on the 29th of October. Highlights include uranium production of 101.8k lb from 31 operating days during the quarter. Recoveries improved to 69% for the quarter (up from 52% in the June quarter) and reaching 80% in September.

The company completed a $76 million capital raising in February to help strengthen its balance sheet. 

There has been some concern from investors this year about the company's ability to deliver profits without needing more cash, and that has caused a long and consistent share price tumble of Lotus Resources shares so far in 2026.

At the close of the ASX on Tuesday afternoon, Lotus Resources shares were flat at 18 cents each. That's 87% lower year to date and 88% lower than 12 months ago. 

Market Index data shows brokers are split between buy and hold ratings, but the 41 cent average target price implies an upside of around 128%, at the time of writing.

The post 2 ASX shares tipped by brokers to climb 110% or higher over the next 12 months appeared first on The Motley Fool Australia.

Motley Fool contributor Samantha Menzies has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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