Why Northern Star, DroneShield and BHP shares are making waves on Wednesday

DroneShield Ltd (ASX: DRO), Northern Star Resources Ltd (ASX: NST), and BHP Group Ltd (ASX: BHP) shares are catching plenty of attention on Wednesday.

One of the ASX powerhouses is underperforming the 0.9% loss posted by the S&P/ASX 200 Index (ASX: XJO) in late morning trade, while two are shaking off the wider market malaise and marching higher.

Here’s what’s happening.

BHP shares lift on surging copper prices

BHP shares are in the green today, up 0.7% at $55.87 apiece.

The ASX 200 mining giant is making waves today following the release of its operational review, covering the nine months to 31 March.

Turning to its two top earning commodities, BHP reported a 2% year-on-year increase in iron ore production for the nine months to 197 million tonnes. This was supported by record production at the miner’s integrated Western Australia Iron Ore (WAIO) systems.

Copper production went the other direction, slipping 3% from the same period in FY 2025 to 1.461 million tonnes. But BHP shares look to be getting support, with the miner achieving a 31% year on year increase in its average realised copper price to US$5.47 per pound.

BHP also confirmed that Brandon Craig, current president Americas, will take over as CEO on 1 July. Current CEO Mike Henry is stepping down from the top job after six and a half years.

DroneShield shares rise on surging revenue

Like BHP shares, DroneShield shares are rising in today’s sinking market.

At time of writing, shares in the ASX 200 drone defence company are up 0.5%, changing hands for $3.83 apiece.

DroneShield is making financial news headlines today following the release of its first quarter (Q1 2026) results.

Highlights for the three months include a 121% year-on-year increase in revenue to $74.1 million. And customer cash receipts of $77.4 million were up 360% from Q1 2025.

Turning to the balance sheet, DroneShield’s cash balance at the end of the quarter was up 13% year-on-year to $222.8 million, with no debt.

Which brings us to…

Northern Star shares slide on update

Joining DroneShield and BHP shares in the top headlines today, Northern Star shares are down 3.0%, trading for $22.94 each.

The ASX 200 gold stock is under pressure following its own March quarter update release. Though to put today’s performance in better perspective, the S&P/ASX All Ordinaries Gold Index (ASX: XGD) is down 2.3% at time of writing.

For the March quarter, Northern Star sold 380,807 ounces of gold at an all-in sustaining cost (AISC) of $2,709 per ounce. The Aussie gold mining giant reported revenue from gold sales of $2.01 billion.

However, investors may be favouring their sell buttons today, with the company also flagging an uptick in its FY 2026 growth capital expenditures.

Potentially supporting Northern Star shares down the road, management announced an on-market share buyback of up to $500 million.

As at 31 March, Northern Star had a cash and bullion balance of $1.18 billion.

The post Why Northern Star, DroneShield and BHP shares are making waves on Wednesday appeared first on The Motley Fool Australia.

More reading

• Why are Northern Star shares sinking today?
• DroneShield share price jumps after reporting 121% Q1 revenue increase
• BHP shares charge higher following third-quarter update
• Northern Star Resources March quarter 2026: higher-margin gold sales and solid cash flow
• DroneShield delivers record 1Q26 revenue and cash receipts

Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended DroneShield. The Motley Fool Australia has recommended BHP Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.