Fortescue Ltd (ASX: FMG) shares are down around 1% to $16.65 on Thursday morning.

The decline means the miner’s shares are now down around 24% year to date.

For context, the S&P/ASX 200 Index (ASX: XJO) is down 1% today and around 1% for the year-to-date.

It’s been a tough couple of months for the global mining giant. After its shares hit a two-year high of $22.99 in May, they’ve slowly but gradually tumbled downwards.

Just last week, Fortescue shares hit an annual low of $16.22 a piece.

Fortescue’s shares were hit by headwinds from iron ore prices. The company generates substantial cash flow from its large iron ore operations, so rising iron ore prices act as a tailwind and falling prices act as a headwind for the miner’s shares.

Trading Economics data shows that iron ore prices spiked to around US$111 per tonne in May, hit an annual low of around US$93 per tonne in August, and are currently trading at around US$97 per tonne.

Ongoing conflict in the Middle East has also put downward pressure on shares, driven by concerns about rising costs, oil supply risks, and broad market uncertainty.

A mixed FY26 result last month, including a 9% increase in revenue, 9% increase in EBITDA, and a 15% decrease in statutory net profit after tax (NPAT), didn’t help the share price either.

The question now is, where will the shares go next?

Here’s what the experts think.

What do brokers tip for Fortescue shares?

Analyst forecasts are a mixed bag.

Market Index data shows brokers are divided equally among buy, sell and hold ratings. The $18.66 average target price implies around an 11% upside, at the time of writing.

On TradingView, the majority of analysts (10 out of 16) have a hold stance on Fortescue shares. Another four rate the shares as a sell/strong sell, and two rate them as a strong buy.

The average $17.59 target price implies a potential 6% upside ahead. Although some think the shares could jump another 32% to $22.01 over the next 12 months, at the time of writing.

Joshua Baker from RaaS Group has a sell rating on the ASX mining shares and warns that the outlook for iron ore prices isn’t as appealing as other commodities.

The team at Morgans have a hold rating on Fortescue shares. The broker said that with the focus on FY27 guidance, Iron Bridge remains a key issue. It explained that the magnetite operation is struggling through ramp-up and with elevated costs. Elsewhere, Morgans said the miner’s plans for a green steel plant are difficult to quantify.

What could drive Fortescue shares higher this year?

An iron ore price recovery would obviously help to drive the shares higher over the next 12 months, as would any progress on its green steel plant.

Fortescue is also actively diversifying its business beyond iron ore and into other markets, such as copper and renewable energy, which could reduce its reliance on iron ore over the long term and also strengthen its bottom line.

The post What do brokers tip for Fortescue shares over the next 12 months? appeared first on The Motley Fool Australia.

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Motley Fool contributor Samantha Menzies 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.

What a difference a day makes for Core Lithium Ltd (ASX: CXO) shareholders.

After jumping 12% yesterday, the lithium miner has gone backwards on Thursday, falling 7.74% to 38.8 cents in morning trade.

The selling follows a string of company announcements released this morning, giving investors plenty to digest after the stock’s recent rally.

Despite today’s decline, Core shares have still gained approximately 269% over the past year following a remarkable recovery.

So, let’s take a closer look at what’s going on with Core Lithium?

Cash piles up, but losses continue

Core’s FY26 annual report shows a significant improvement in the company’s financial position, although there’s still some work to do.

The lithium miner finished June with $181.8 million in cash, compared with just $23.5 million a year earlier.

Much of that improvement came from a $120 million share placement and funding arrangements with Glencore and InfraVia.

However, Core still reported a net loss of approximately $26 million, while operating cash outflows totalled $21.1 million.

The company also received approximately $62.2 million in additional funding after the financial year ended.

Finniss is back in business

The good news is that Core’s flagship Finniss lithium operation is making progress following its restart.

Earlier this month, the company produced its first spodumene concentrate from the processing plant, meeting its September quarter target.

According to the release, the milestone was achieved within 6 months of the final investment decision (FID) in March.

Core has also completed upgrades to the processing plant, which are expected to increase annual throughput capacity by approximately 20% to 1.2 million tonnes.

Meanwhile, development continues at the BP33 underground mine, with first ore targeted for mid 2027.

The next milestone will be the first shipment of newly produced lithium concentrate, which Core expects during the December quarter.

What’s behind Thursday’s sell-off?

While the annual report contains some encouraging developments, lithium prices have been heading in the opposite direction of late.

According to Trading Economics, lithium carbonate was trading at approximately 135,200 Chinese yuan per tonne on Wednesday.

This is down 15.76% over the past month.

The recent pullback comes as more Aussie lithium mines return to production, with investors keeping a close eye on the potential increase in supply.

Following Core’s recent share price rally, some investors may also be taking the opportunity to lock in profits.

I think Core Lithium’s next test is getting Finniss running consistently and generating cash, particularly with lithium prices below their recent highs.

The post Why are Core Lithium shares crashing 8% on Thursday? appeared first on The Motley Fool Australia.

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Motley Fool contributor Aaron Teboneras 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.

ASX 200 gold stock Minerals 260 Ltd (ASX: MI6) is down around 2% to 92 cents a piece at the time of writing.

Despite the latest decline, the shares are still up a huge 114% year to date and have jumped 319% since September 2025.

For context, the S&P/ASX 200 Index (ASX: XJO) is down 1% today and around 1% for the year-to-date.

This rally in the ASX 200 gold stock means that $3,000 invested in Minerals 260 Ltd 12 months ago is already worth over $12,500 today!

What has caused the ASX 200 gold stock to rally higher?

There have been a few factors driving up Minerals 260’s shares over the past year. These include the company’s huge resource growth and substantial capital.

The company has rapidly expanded its gold resource base at Bullabulling following aggressive and successful drilling programs. Bullabulling, which is located in Western Australia, is reported to be one of Australia’s largest undeveloped gold projects.

The site has now surpassed 6.2 million ounces, up significantly from the company’s December 2025 resource estimate of 4.5 million ounces. The company has more drilling programs planned later this year and into 2027, focusing on upgrading existing resources and exploring for new zones.

Elsewhere, in February this year, Minerals 260 also announced it had signed a $220 million strategic funding package with Canadian gold royalties and streaming giant Franco-Nevada Corp (NYSE: FNV) to accelerate and de-risk the development of the Bullabulling gold project. The update saw its share price quickly jump higher.

Minerals 260 got another boost in June when it was added to the ASX 200 index amid a quarterly rebalance.

Most recently, the company announced that it has been granted an expanded Mining Lease at its Bullabulling Gold Project and has acquired additional regional tenements, expanding its total project area to 1,527 km². The move broadens its exploration potential and underpins the scale of the Bullabulling Gold Project.

Can Mineral 260’s shares keep climbing higher?

If analyst forecasts are anything to go by, there is still plenty more upside to come out of Minerals 260’s shares over the next 12 months.

According to TradingView data, all six brokers have a buy/strong buy rating on the shares. The average $1.355 target price implies a potential 47% upside at the time of writing. Some are even more bullish and expect the shares could climb 74% higher to $1.60 over the next 12 months.

The post If I’d put $3k in this ASX 200 gold stock 12 months ago, I’d have $12,500 now appeared first on The Motley Fool Australia.

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Motley Fool contributor Samantha Menzies has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Franco-Nevada. 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.