The best iron ore stocks on the ASX (2021)

We look at some of the top stocks to watch as iron ore prices fall.

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Iron ore stocks are a staple on the Australian stock market, with mining stocks making up a significant chunk of the biggest 200 listed companies (S&P/ASX200 index).

Along with growth potential, major iron ore stocks in Australia tend to be some of the top dividend payers. And Australia's three largest iron ore stocks BHP (BHP), Rio Tinto (RIO) and Fortescue Metals Group (FMG), are among the world's five biggest producers.

If you're looking for ASX iron ore stocks to buy, read on.

What to know before buying

Mining stocks of any kind are volatile. While Australia's biggest iron ore miners, such as BHP and Rio Tinto, are among Australia's oldest and largest corporations, their stock prices are largely influenced by the global supply and demand of commodities.

In September 2021, news that major Chinese real estate conglomerate Evergrande Group was on the brink of collapse sent iron ore and copper futures dropping. That has seen shares in our mining stocks plummet.

While risky, some investors will see the fall as a buying opportunity.

Iron ore stocks to watch in 2021

It's not easy picking quality stocks. To help identify iron ore stock picks for 2021, we used Finder's proprietary algorithm to filter Australian-listed companies that have strong fundamentals. We take into account historical prices, dividends, revenue growth, (low) price volatility and profit margins, which might indicate a quality stock.

To avoid speculative stocks, we only include companies with a market cap of more than $1 billion. In order to better compare historical data, we filtered out stocks that have been listed on the ASX for less than five years.

This doesn't mean these are the best stocks for you. Always do your own research and chat with a professional when in doubt.

The algorithm was last updated 21 September 2021.

How did we pick this list?

We use a proprietary algorithm that rates ASX-listed stocks based on price performance, profit, revenue and dividends. The information provided is general in nature, not personal financial advice, and your personal objectives, financial situation or needs have not been taken into consideration. The companies displayed on this page may not be the best for you and you’re encouraged to do your own research. Always remember that past performance is no guarantee of future results. Investments can go up and down and we do not guarantee the performance of or returns of any investment. For more information about our algorithm, head to our stock ranking page.

OZ Minerals Limited (OZL.AU)

OZ Minerals Limited engages in the exploration, development, mining, and processing of mining projects in Australia. The company primarily explores for copper, gold, silver, nickel, iron oxide, zinc, and lead deposits.
  • Market cap: A$8.325 billion
  • YTD performance: 14.66%
  • 1 Year performance: 50.31%
  • 5 Year performance: 259.02%
  • P/E Ratio: 20.5012
  • Headquarters: Australia

Mineral Resources Limited (MIN.AU)

Mineral Resources Limited, together with subsidiaries, operates as a mining services and processing company in Australia, China, and Singapore. It operates through three segments: Mining Services, Commodities, and Central.
  • Market cap: A$7.437 billion
  • YTD performance: 48.99%
  • 1 Year performance: 140.67%
  • 5 Year performance: 522.99%
  • P/E Ratio: 5.8497
  • Headquarters: Australia

Orocobre Limited (ORE.AU)

Orocobre Limited engages in the exploration, development, and production of lithium and boron in Argentina. The company's flagship project is the Olaroz Lithium Facility located in Jujuy province in northern Argentina.
  • Market cap: A$5.834 billion
  • YTD performance: 36.09%
  • 1 Year performance: 147.37%
  • 5 Year performance: 225.87%
  • P/E Ratio: N/A
  • Headquarters: Australia

IGO Limited (IGO.AU)

IGO Limited operates as an exploration and mining company that engages in discovering, developing, and operating assets focused on metals to enable clean energy in Australia. It owns and operates a 100% interest in the Nova nickel-copper-cobalt operation located in the Great Western Woodlands, northeast of Norseman.
  • Market cap: A$7.232 billion
  • YTD performance: 28.02%
  • 1 Year performance: 98.67%
  • 5 Year performance: 178.24%
  • P/E Ratio: 11.8634
  • Headquarters: Australia

Rio Tinto Group (RIO.AU)

Rio Tinto Group engages in exploring, mining, and processing mineral resources worldwide. The company offers aluminum, copper, diamonds, gold, borates, titanium dioxide, salt, iron ore, and uranium.
  • Market cap: A$153.863 billion
  • YTD performance: 10.05%
  • 1 Year performance: 38.65%
  • 5 Year performance: 137.29%
  • P/E Ratio: 6.1548
  • Headquarters: Australia

South32 Limited (S32.AU)

South32 Limited operates as a diversified metals and mining company in Australia, Southern Africa, North America, and South America. The company operates through Worsley Alumina, Hillside Aluminium, Mozal Aluminium, Brazil Alumina, Illawarra Metallurgical Coal, Eagle Downs Metallurgical Coal, Australia Manganese, South Africa Managanese, Cerro Matoso, Cannington, Hermosa, and South Africa Energy Coal segments.
  • Market cap: A$17.727 billion
  • YTD performance: 18.48%
  • 1 Year performance: 44.61%
  • 5 Year performance: 78.79%
  • P/E Ratio: N/A
  • Headquarters: Australia

BlueScope Steel Limited (BSL.AU)

BlueScope Steel Limited produces and sells metal coated and painted steel building products in Australia, New Zealand, Thailand, Indonesia, Malaysia, Vietnam, North America, the Pacific Islands, and Asia. The company operates through five segments: Australian Steel Products, North Star BlueScope Steel, Building Products Asia & North America, Buildings North America, and New Zealand & Pacific Islands.
  • Market cap: A$10.359 billion
  • YTD performance: 30.58%
  • 1 Year performance: 56.43%
  • 5 Year performance: 209.24%
  • P/E Ratio: 8.7905
  • Headquarters: Australia

Champion Iron Limited (CIA.AU)

Champion Iron Limited engages in the acquisition, exploration, development, and production of iron ore deposits in Canada. Its flagship projects include the Bloom Lake Mine located in south end of the Labrador; and the Consolidated Fire Lake North project that includes the Fire Lake North, Don Lake, Bellechasse, and Oil Can deposits situated in northeastern Quebec.
  • Market cap: A$2.34 billion
  • YTD performance: 39.37%
  • 1 Year performance: 117.77%
  • 5 Year performance: 2842.23%
  • P/E Ratio: 3.5676
  • Headquarters: Australia

CSR Limited (CSR.AU)

CSR Limited, together with its subsidiaries, engages in the manufacture and supply of building products for residential and commercial constructions in Australia and New Zealand. It operates through Building Products, Property, and Aluminium segments.
  • Market cap: A$2.864 billion
  • YTD performance: 5.2%
  • 1 Year performance: 24.89%
  • 5 Year performance: 105.64%
  • P/E Ratio: 19.6667
  • Headquarters: Australia

Lynas Rare Earths Limited (LYC.AU)

Lynas Rare Earths Limited, together with its subsidiaries, engages in the exploration, development, mining, extraction, and processing of rare earth minerals primarily in Australia and Malaysia. The company holds an interest in the Mount Weld project, Western Australia.
  • Market cap: A$6.173 billion
  • YTD performance: 50.76%
  • 1 Year performance: 120.08%
  • 5 Year performance: 1011.53%
  • P/E Ratio: 38
  • Headquarters: Australia

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Disclaimer: This information should not be interpreted as an endorsement of futures, stocks, ETFs, CFDs, options or any specific provider, service or offering. It should not be relied upon as investment advice or construed as providing recommendations of any kind. Futures, stocks, ETFs and options trading involves substantial risk of loss and therefore are not appropriate for all investors. Trading CFDs and forex on leverage comes with a higher risk of losing money rapidly. Past performance is not an indication of future results. Consider your own circumstances, and obtain your own advice, before making any trades.

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