Fortescue Ltd (ASX: FMG) shares have been in the spotlight this week after the mining giant released its FY 2026 results.

Are its shares a buy? Let’s see what analysts at Bell Potter are saying about the miner.

What is the broker saying?

Bell Potter notes that Fortescue released a mixed result this week, with revenue and EBITDA slightly ahead of expectations, but net profit and dividends falling short. It said:

FMG reported mixed FY26 results, with revenue and EBITDA slightly ahead of our forecasts and consensus but NPAT and dividend a miss. Key metrics included revenue of US$16,966m (vs BPe US$16,491m, up 9% YoY), underlying EBITDA of US$8,635m (vs BPe US$8,382m, up 9% YoY) and underlying NPAT of US$3,458m (vs BPe US$3,723m, up 3% YoY). Statutory NPAT was impacted by an impairment of US$750m (Iron Bridge) and a US$104m (Yindjibarndi compensation) for US$598m post tax cost and statutory NPAT of US$2,870m, down 15% YoY.

Speaking about its dividend and outlook, Bell Potter adds:

FMG’s declared a final dividend of A46cps (vs A60cps YoY) for total FY26 dividends of A108cps at a 6.0% fully franked yield, a key support for the FMG share price. This was lower (A110cps YoY) despite higher production and a higher iron ore price. FY27 guidance was reiterated, for shipments of 197-207Mt at C1 cost US$20.50- US$21.75/wmt, implying +13% YoY cost inflation and that margins and earnings will remain under pressure. 

Adding downside risk is pricing pressure from centralised Chinese buying group CMRG. FMG provided limited commentary on the progress of ongoing negotiations, but stated that all it seeks is a return to “fair and proper market practices”, implying that is not currently what’s on offer.

Should you buy Fortescue shares?

According to the note, in response to the results, Bell Potter has retained its hold rating on Fortescue shares with a trimmed price target of $17.10.

Based on its current share price of $17.95, this implies potential downside of around 5% for investors over the next 12 months.

However, Bell Potter expects a 3.3% dividend yield in FY 2027, reducing the total potential negative return.

Commenting on its recommendation, the broker said:

There are no material EPS changes in this report. FMG’s core iron ore operations continue to perform well. However, broad input cost inflation, subdued iron ore price fundamentals, a rising AUD and potential impacts to price realisation all put pressure on our earnings and dividend forecasts. We retain our Hold rating and do not yet see the positive catalysts to re-enter the stock. Our NPV-based valuation is lowered 2%, to $17.10/sh.

The post Are Fortescue shares in the buy zone after its results? appeared first on The Motley Fool Australia.

More reading

• Everything you need to know about the new Fortescue dividend
• Why is the Fortescue share price on a rollercoaster today?
• Fortescue hits new records in FY26: profit up, dividends flow
• How much passive income could I earn from a $630,000 superannuation balance?
• How much do I need in my superannuation to earn $50,000 per year in passive income?

On Thursday, the S&P/ASX 200 Index (ASX: XJO) was back on form and pushed higher. The benchmark index rose 0.3% to 9,083.8 points.

Will the market be able to build on this on Friday and end the week on a high? Here are five things to watch:

ASX 200 expected to fall

The Australian share market looks set for a subdued session on Friday following a poor night of trade in the United States. According to the latest SPI futures, the ASX 200 is expected to open 25 points or 0.3% lower this morning. On Wall Street, the Dow Jones was down 1.3%, the S&P 500 fell 0.9%, and the Nasdaq dropped 1%.

Oil prices jump

ASX 200 energy shares Santos Ltd (ASX: STO) and Woodside Energy Group Ltd (ASX: WDS) could have a good finish to the week after oil prices jumped overnight. According to Bloomberg, the WTI crude oil price is up 2.7% to US$88.15 a barrel and the Brent crude oil price is up 2% to US$93.45 a barrel. This was driven by renewed concerns around Middle East tensions.

Telix shares downgraded

Telix Pharmaceuticals Ltd (ASX: TLX) shares will be on watch on Friday after being downgraded by analysts at Bell Potter. This morning, the broker has cut its rating on the radiopharmaceutical company’s shares to hold (from buy) with a $19.00 price target. It said: “The pivotal moment is in a few days time for Pixclara with this event alone to dominate short term share price performance. We expect approval but without great conviction. FY26 earnings adjustments are modest. We retain our PT $19.00 and downgrade to Hold following the recent share price increase.”

Gold price rises

ASX 200 gold shares Evolution Mining Ltd (ASX: EVN) and Newmont Corporation (ASX: NEM) could have a decent finish to the week after the gold price rose overnight. According to CNBC, the gold futures price is up 0.65% to US$4,574.8 an ounce. This appears to have been driven by easing interest rate hike expectations.

Temple & Webster downgraded

Bell Potter has downgraded Temple & Webster Group Ltd (ASX: TPW) shares despite their heavy decline over the past 12 months. This morning, the broker has cut its rating on the online retailer’s shares to hold with a reduced price target of $4.50. It said: “While the share trades towards 3-year lows, we see multiple risks related to the revenue recovery from current levels over the next few months in this current macroeconomic context, competitive landscape and following TPW’s 4Q26 profit optimisation initiatives.”

The post 5 things to watch on the ASX 200 on Friday appeared first on The Motley Fool Australia.

More reading

• Buy, hold, sell: Bega Cheese, Temple & Webster and Whitehaven Coal shares after results
• Here are the top 10 ASX 200 shares today
• Buy, hold, sell: Premier Investments, Hansen Technologies, Santos shares
• 7 ASX 200 shares with reaffirmed buy ratings this week
• 10 ASX 200 shares downgraded by analysts this week

Motley Fool contributor James Mickleboro has positions in Temple & Webster Group and Woodside Energy Group Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Telix Pharmaceuticals and Temple & Webster Group. The Motley Fool Australia has recommended Telix Pharmaceuticals and Temple & Webster Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

ASX ETFs have become the default starting point for new Australian investors, and for good reason.

They give you dozens or hundreds of companies in a single trade.

You do not need to pick winners, and you do not need a large starting balance.

Not all ASX ETFs are built the same, though.

Here are three I would happily build a first portfolio around in 2026.

Why ASX ETFs suit first-time investors

The biggest mistake new investors make is buying one or two speculative stocks and hoping for the best.

Exchange-traded funds remove that single-company risk almost entirely, because a poor result from one holding is diluted across the rest of the portfolio.

They also cost very little to own.

Fees on the three funds below range from 0.07% to 0.38% a year, which works out to somewhere between $7 and $38 annually on a $10,000 investment.

You buy and sell them through a broker exactly as you would an ordinary share.

Vanguard Australian Shares Index ETF (VAS)

Vanguard Australian Shares Index ETF (ASX: VAS) is the most widely held fund on the ASX.

The ETF tracks the S&P/ASX 300 Index and holds 321 securities.

The fee is just 0.07% per annum, and the ETF now manages $26.2 billion.

Returns have been solid without being spectacular.

The fund delivered 5.79% over the year to 31 July 2026, and 8.92% annually across the past decade.

My colleagues looked at exactly how VAS performed across FY26.

The fund also carries an equity yield of 3.1%, and because distributions have been close to 80% franked this year, that income serves to boost the headline return figure.

Vanguard MSCI International Shares ETF (VGS)

Vanguard MSCI International Shares Index ETF (ASX: VGS) addresses the lack of geographic diversification in VAS.

Australia represents less than 2% of global sharemarket value, and VGS holds 1,247 companies across developed markets, with the United States making up 73.2% of the portfolio and roughly $17.2 billion invested in the ETF.

Its largest holdings are Nvidia, Apple, Alphabet, Microsoft and Amazon, with annual management fees of 0.18% a year.

Returns have been strong, at 13.79% annually over the past ten years.

The yield is much lower at 1.4%, because global companies tend to reinvest their earnings rather than pay them out to shareholders.

Betashares Nasdaq 100 ETF (NDQ)

Betashares Nasdaq 100 ETF (ASX: NDQ) is the most aggressive option of the three.

The ETF holds the largest non-financial companies listed on the Nasdaq, and technology accounts for 58.2% of the portfolio.

The returns have been remarkable, averaging 20.87% a year over the past decade.

Management costs are 0.38% per annum and distributions are paid twice a year.

In many ways, this ETF is the best way to capture the artificial intelligence boom from Australia.

The trade-off is concentration risk. Nvidia, Apple and Microsoft alone account for more than 21% of the fund.

How to combine these ASX ETFs

A simple approach is to weight VAS and VGS as the core of the portfolio.

That gives you Australian franking credits alongside global diversification, which is the combination most local investors are missing when they start out.

NDQ then becomes a smaller satellite position for growth.

Rebalancing once a year is usually enough: the point of ASX ETFs is that they do not need constant attention.

Foolish takeaway

There is no single perfect fund.

VAS gives you income and franking, VGS gives you the world, and NDQ gives you growth with a good deal of volatility attached.

Between them, these three ASX ETFs cover most of what a first portfolio needs.

Start with regular contributions, keep the fees low, and let compounding handle the rest.

The post Top 3 ASX ETFs for a first-time investor in 2026 appeared first on The Motley Fool Australia.

More reading

• How to turn $10,000 into $100,000 with ASX shares
• 20% a year: Is this the ASX’s best index fund?
• Is $2 million really the new superannuation target?
• How to invest $10,000 the Warren Buffett way: Buy businesses, not stocks
• A200 vs NDQ: one Betashares ETF is the clear winner

Motley Fool contributor Mark Verhoeven 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 Amazon, Apple, BetaShares Nasdaq 100 ETF, Microsoft, and Nvidia. The Motley Fool Australia has positions in and has recommended BetaShares Nasdaq 100 ETF. The Motley Fool Australia has recommended Amazon, Apple, Microsoft, Nvidia, and Vanguard Msci Index International Shares ETF. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.