S&P/ASX 200 Index (ASX: XJO) shares have weakened by almost 1% over the past 12 months.

Last week, the market edged lower on growing expectations of another interest rate hike due to stubborn inflation.

Meanwhile, here are some new ratings from the experts.

Orica Ltd (ASX: ORI)

The Orica share price is up 5.7% over 12 months. 

Ord Minnett has a buy rating on this ASX 200 materials share. 

The broker said: 

NaCN [sodium cyanide] is a critical reagent used in gold extraction, and the two largest global producers, Orica and Draslovka, have both indicated their production capacity is fully committed.

With supply effectively sold out, pricing power is improving, as evidenced by recent Australian trade data.

In addition, NaCN costs have not increased at the same pace as broader mining costs despite being an essential input and the gold miners enjoying elevated profitability from strong gold prices. This suggests further pricing upside may be achievable.

Stronger NaCN pricing and improved plant utilisation could drive returns in ORI’s chemicals division back towards historical levels (before the acquisition of Cyanco in 2024) and closer to the company’s broader target range of 13%– 15%. 

BHP Group Ltd (ASX: BHP)

The BHP share price has soared 53% over 12 months. 

Dylan Evans from Catapult Wealth has a hold rating on this ASX 200 mining share. 

Evans said (courtesy The Bull): 

The global miner’s full year results were impressive, with the company increasing revenue and profit.

Growth was driven by the copper division, which is now the primary revenue generator for BHP.

As a result, future earnings will be influenced by the copper price, but the price should be underpinned by several long term themes, including electrification and growing digital infrastructure.

BHP is a core holding. However, the share price has risen substantially in the past 12 months to the point where it can appear expensive.

GQG Partners Inc (ASX: GQG)

The GQG Partners share price has tumbled 37% over 12 months. 

Andrew Wielandt from DP Wealth Advisory has a sell rating on this ASX 200 financial share. 

Wielandt said: 

GQG is a global active fund manager with a diversified range of equity strategies. However, total funds under management of $US149.2 billion at August 31, 2026 had fallen from $US156.4 billion at July 31, 2026.

Total funds under management are also down $US14.7 billion between December 31, 2025 and August 31, 2026.

Outflows create uncertainty about the sustainability of earnings and income.

Until investment performance and funds under management stabilise or tick up, we retain a sell recommendation on GQG.

The post Buy, hold, sell: Orica, GQG Partners, BHP shares appeared first on The Motley Fool Australia.

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Motley Fool contributor Bronwyn Allen 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 recommended BHP Group and Gqg Partners. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The Perpetual Ltd (ASX: PPT) share price is in focus after the company rejected a further revised takeover proposal from EQT and confirmed the end of discussions. The $22.50 per share proposal was deemed by the board to undervalue Perpetual and carried too much execution risk.

What did Perpetual report?

• Rejected a further revised, non-binding buyout offer from EQT at $22.50 per share.
• Proposal included the option for a permitted dividend of up to $0.60 per share for 1H27.
• Board maintained its view that the offer undervalued the company.
• Sale of Wealth Management business remains on track for completion in Q4 FY26.
• Expected move to a net cash position after the sale, offering increased financial flexibility.

What else do investors need to know?

Perpetual says its engagement process with EQT has now concluded, as the latest proposal was described as “best and final” in the absence of competing offers. Shareholders are not required to take any action in response to this announcement.

The board also reiterated that the planned sale of its Wealth Management arm is proceeding as expected, with completion likely by the end of 2026. This sale is anticipated to enhance Perpetual’s financial position and allow more capital management initiatives in the future.

What’s next for Perpetual?

With the EQT engagement process now closed, Perpetual is focused on its core Asset Management and Corporate Trust businesses. Management highlights a continued commitment to delivering sustainable long-term value to shareholders.

Once the Wealth Management business sale wraps up, Perpetual expects to be in a net cash position, providing room to consider additional capital management options alongside dividends.

Perpetual share price snapshot

Over the past 12 months, Perpetual shares have risen 3%, outperforming the S&P/ASX 200 Index (ASX: XJO), which has declined 1% over the same period.

View Original Announcement

The post Perpetual rejects EQT’s final offer and confirms asset sale plans appeared first on The Motley Fool Australia.

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Motley Fool contributor Laura Stewart 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. This article was prepared with the assistance of Large Language Model (LLM) tools for the initial summary of the company announcement. Any content assisted by AI is subject to our robust human-in-the-loop quality control framework, involving thorough review, substantial editing, and fact-checking by our experienced writers and editors holding appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content published by The Motley Fool Australia.

S&P/ASX 200 Index (ASX: XJO) stock Orica Ltd (ASX: ORI) has slowly climbed back from yearly lows hit in March of this year. 

Since that time, its share price is up 20%.

The company manufactures, distributes, and sells commercial blasting systems, explosives, and mining and tunnelling support systems to the mining industry, as well as various chemical products and services in Australia, Canada, the US, and internationally.

Investor concerns

Lately, there has been concern surrounding the company’s North American ammonium nitrate (AN) supply arrangements. 

This has come following the termination of a key contract with CF Industries (NYSE: CF), which supplied around half of the company’s North American blasting business. 

This comes at a time when the AN supply and demand conditions in the US have tightened. 

Subsequently, this could make it more difficult for Orica to secure new contracts on attractive terms.

Why the concerns may be overblown

However, the team at Ord Minnett appear less concerned. 

The broker said the North American blasting business generated only about 10% of Orica’s FY25 operating profit (EBIT).

And the part connected to the CF Industries contract was only a portion of that.

So, even if this business becomes less profitable, the overall impact on Orica could be manageable rather than disastrous.

Orica is also looking at ways to reduce costs in this division, which could help protect its profit margins.

There is another, potentially more important story.

Orica also produces sodium cyanide (NaCN).

Sodium cyanide is a chemical that is very important for extracting gold from ore.

Demand for this chemical is strong, and supply is tight.

The two biggest producers, one of which is Orica, have said their production capacity is essentially fully booked.

Target price intact 

The team at Ord Minnett said stronger NaCN pricing and improved plant utilisation could drive returns in the company’s chemicals division back towards historical levels (before the acquisition of Cyanco in 2024) and closer to the company’s broader target range of 13% to 15%. 

We increase our earnings forecasts for the chemicals segment to capture the stronger market fundamentals in NaCN. However, this has been more than offset by a stronger Australian dollar since our last note. Consequently, our EPS estimates are revised down by 1.9%, 2.9%, and 3.3% in FY26, FY27, and FY28, respectively. Our target price of $26 is unchanged.

This ASX 200 stock closed trading last week at $22.61. 

Based on the retained price target from Ord Minnett, there is 15% upside for this ASX 200 company. 

The post This ASX 200 stock just received a fresh buy rating and is tipped to climb 15% appeared first on The Motley Fool Australia.

More reading

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• UBS names its 10 top ASX picks for the next 3-6 months
• ASX 200 mining shares outperform in final week of earnings season

Motley Fool contributor Aaron Bell 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.