The Fortescue Ltd (ASX: FMG) share price has suffered a 16% decline since 14 May 2026, as the below chart shows. When an ASX mining share goes through a large dip, it’s good to consider whether it’s a buy and what could happen to the share price.

Miners can deliver great returns if investors buy them at the right time, given how much resource prices (and profits) can fluctuate.

Mining costs don’t change much year to year, so a shift in the revenue per tonne can make a big difference to the profitability because extra revenue for that tonne largely adds straight onto the operating profit (EBITDA) line, though an iron ore reduction can cut straight into net profit.

Iron ore price reduces

As you may be able to guess, the iron ore price has noticeably fallen in the last several weeks, dropping from more than US$110 per tonne in mid-May to almost US$100 per tonne, at the time of writing, according to Trading Economics.

Considering how that change may hurt Fortescue’s monthly profitability, the decline of the Fortescue share price has not been that bad.

But where to from here? The iron ore price is difficult to predict in the short term, though the market is wary of the influence that increased African iron ore production (including Simandou) could have on the global iron ore price.

Interestingly, to potentially offset that headwind, Fortescue is developing its own African iron ore project and diversifying into copper production.

Where could the Fortescue share price go from here?

It’s important not to anchor to where a share price has recently been and assume it’ll bounce back there quickly.

According to CMC Invest, there have been nine ratings on the business within the last three months.

A price target indicates where analysts expect the share price to be 12 months from the investment call.

The average price target of those nine ratings is $19.05, suggesting (at the time of writing) a slight decline over the next 12 months.

But that’s just the average price target. The most optimistic price target is $21.71, suggesting a rise of more than 12%, while the lowest is $15.79, implying a possible decline of around 18% at the time of writing.

The investment professionals are leaning slightly negative on the ASX mining share. Of those nine ratings, just two were buys, three were holds and four were sells.  

So, it doesn’t seem as though the Fortescue share price is a compelling idea today.

The post How much could the Fortescue share price rise in the next year? appeared first on The Motley Fool Australia.

More reading

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• Why has the ASX 200 given up its early rebound today?
• Is the Fortescue share price a buy for its 8% dividend yield?
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• ASX 200 slips as oil shock puts investors on edge

Motley Fool contributor Tristan Harrison 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.

Woolworths Group Ltd (ASX: WOW) shares are back in favour.

On Thursday, the supermarket giant’s shares hit a 52-week high of $40.10.

That is a strong vote of confidence from the market, particularly after a difficult period for the retail sector more broadly.

Investors appear to be warming again to Woolworths’ defensive qualities, its scale, and the resilience of supermarket spending.

But after such a strong move, is there still value left for investors?

Why Woolworths remains attractive

Woolworths sits in one of the most dependable parts of the Australian economy.

Households may postpone major purchases when budgets are tight, but grocery spending is far harder to avoid.

That gives Woolworths a level of defensive strength that many ASX shares cannot match.

The company also has huge scale. Its supermarkets serve millions of customers each week, supported by a large store network, online operations, loyalty data, supplier relationships, and logistics infrastructure. That scale can be difficult to replicate.

But the valuation is no longer cheap

The main challenge is valuation. At current levels, Woolworths shares are trading on approximately 31 times expected FY 2026 earnings. This is based on forecast earnings per share of $1.30.

Looking ahead to FY 2027, analysts are expecting earnings per share of $1.48. That still places the stock on a forward price-to-earnings ratio of about 27 times.

Those are not bargain-level multiples. Investors are paying a premium for Woolworths’ defensive profile, reliable customer demand, and long-term market position.

That may be justified if earnings growth improves from here. But it also means there is less room for disappointment.

If margins come under pressure, competition intensifies, or sales growth slows, the share price could be vulnerable after reaching a 52-week high.

Woolworths also remains relevant for income investors. Analysts are expecting dividends of 99.5 cents per share in FY 2026 and $1.13 per share in FY 2027. This represents dividend yields of approximately 2.5% and 2.8%, respectively.

That’s not the largest dividend yield you’ll find on the Australian share market, but it is welcome income for investors.

Are Woolworths shares a buy?

Woolworths remains a high-quality ASX blue chip. Its role in everyday household spending, national scale, and strong customer position make it a business that many investors would be comfortable owning for years.

But at a 52-week high, the easy value case has faded.

I would argue that Woolworths looks more like a quality hold than an obvious bargain at today’s price, though long-term investors may still see appeal in its defensive earnings profile.

The post Are Woolworths shares still a buy at a 52-week high? appeared first on The Motley Fool Australia.

More reading

• This ASX 200 giant just hit a 52-week high. Is it getting too expensive?
• Woolworths shares soar to new multi-year high: Buy, sell or hold?
• One ASX dividend and one ASX growth stock to buy now
• How to build an ASX share portfolio that can survive a market selloff
• Woolworths shares vs Coles: Buy, hold, or sell these ASX giants?

Motley Fool contributor James Mickleboro has positions in Woolworths Group. 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.

If you are hunting ASX dividend shares to buy for your income portfolio in July, then read on.

That’s because Morgans recently named two that could be among the best to buy right now. Here’s what it is recommending to clients:

Accent Group Ltd (ASX: AX1)

The team at Morgans recently put a buy rating and 85 cents price target on this footwear retailer’s shares.

It made the move after the HypeDC and Platypus owner received an opportunistic takeover offer. It said:

Frasers Group has made an unconditional on-market cash takeover offer for AX1 at $0.65 per share, which represents no premium to the closing share price. We see this offer as opportunistic, given the weakness in the share price over the last 12 months (down 64%), and see scope for Frasers to revise its bid higher. We have made no changes to our forecasts, but have increased our target price to $0.85 (from $0.75) applying a lower discretionary discount. We retain our BUY recommendation.

With respect to dividends, Morgans expects Accent to reward its shareholders with fully franked payouts of 3.8 cents per share in FY 2026 and then 5 cents per share in FY 2027. Based on the current Accent share price of 72 cents, this would mean dividend yields of 5.3% and 6.9%, respectively.

Flight Centre Travel Group Ltd (ASX: FLT)

Morgans thinks that Flight Centre could be an ASX dividend share to snap up.

The broker recently put a buy rating and $14.80 price target on the travel agent’s shares. It said:

Given recent downgrades from other travel industry peers due to the conflict in the Middle East, FLT’s downgrade wasn’t a surprise. Given its balance sheet strength and depressed share price, a new up to A$200m share buyback was announced. We have made only minor changes to our forecasts given FLT’s guidance was broadly in line with our previous forecast.

While a peace agreement and eased travel restrictions are positive, we think 1H27 will still be challenging. We forecast a strong recovery in 2H27. If it wasn’t for this conflict, FLT would have had a great year given its results for the first nine months were strong. We are buyers of FLT because when operating conditions ultimately improve, both its earnings and share price will be materially higher.

As for income, the broker is expecting fully franked dividends of 40 cents per share in FY 2026 and then 48 cents per share in FY 2027. Based on its current share price of $12.06, this represents attractive 3.3% and 4% dividend yields, respectively.

The post 2 of the best ASX dividend shares to buy in July appeared first on The Motley Fool Australia.

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• Buy, hold, sell: Flight Centre, Supply Network, Lottery Corporation shares
• 2 ASX shares highly recommended to buy: Experts
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Motley Fool contributor James Mickleboro has positions in Accent Group. 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 recommended Accent Group and Flight Centre Travel Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.