Heavyweight broker Deutsche has looked at the big cap miners and says they have beaten the market's "Brexit Blues".
Every stock the broker covers, except Lonmin (LON:LMI), is generating free cash flow after sustaining capital expenditure requirements this year, it notes.
Analyst Anna Mulholland said that free cash flow yields for the sector now average 14% and 16% this year and next respectively and among the broker's top picks - Rio Tinto (LON:RIO), Acacia (LON:ACAA) and Vedanta (LON:VED) are yielding above 10% in 2017.
The FTSE Miners are up 42% in the year to date, driven by a weakening US dollar, Chinese economic stimulus, speculative trading in commodities, and post-Brexit anticipation of global government stimulus and a flight to safety in terms of gold, she said.
"The stocks have run ahead of the underlying commodities and the sector has re-rated to 0.96x NPV in line with its pre-2011 history. Despite this, FCF is healthy and growing and there is still value to be had."
Deutsche moves the target on Rio to 3,175p from 2,800p previously and rates shares a 'buy'. It also lifts the target on BHP Billiton (LON:BLT) to 1250p from 880p and repeats a 'hold'. Copper giant Antofagasta (LON:ANTO) has a 'hold' stance repeated and a target price lifted to 585p from 470p.
Moving sector entirely and the same broker lifts the target on drugs giant Glaxo (LON:GKS) to 1650 from 1500p.
Elsewhere in brokerland, HSBC has looked at UK supermarkets and clipped Tesco plc (LON:TSCO) down to 'hold' from 'buy' and Morrison's (LON:MRW) down to 'reduce' from 'hold'.