The S&P/ASX 200 Index (ASX: XJO) has rallied higher over the past month as inflation concerns ease and investor confidence returns to the share market.

The rotation into ASX 200 shares has pushed some huge players to an all-time high. Here’s how South32 Ltd (ASX: S32), Woolworths Group Ltd (ASX: WOW) and BHP Group Ltd (ASX: BHP) shares are tracking today. And what brokers expect next.

Buy South32 shares

The ASX miner announced a substantial jump in its ore reserve estimate at its Sierra Gorda mine yesterday. The update extends the mine’s reserve life by another five years, to 2045.

The Sierra Gorda copper mine, in which South32 holds a 45% stake, is a large, open pit operation in northern Chile. This major jump in ore reserves and resources comes after significant drilling to better define the orebody, providing more certainty over future production.

The share price is also in focus ahead of the company’s FY26 financial results, which it is due to post to the ASX tomorrow.

At the time of writing, the shares have risen slightly, by around 0.5% to $5.14 a piece. Today’s rise might be small but it has pushed South32 shares to a fresh four-year high.

South32 shares are now up around 45% for the year-to-date and are 77% higher than 12 months ago.

At the time of writing, brokers are positive about the stock. But after the latest rally, some forecasts imply a downside ahead. Market Index data shows the majority have a hold rating but the $4.94 average target price now implies a downside of around 4%.

Sell Woolworths shares

ASX consumer staples stock Woolworths is turning heads today after it posted its full-year FY26 results to the market this morning.

The supermarket giant reported a 3.6% year-on-year boost in sales to $71.54 billion. And EBITDA (before significant items) increased by 6.7% to $6.09 billion. On the bottom line, Woolworths achieved a NPAT (before significant items) of $1.60 billion, up 15.4%.

The bumper results meant management were able to increase the final fully-franked dividend by 15.6% from last year’s final payout of 52 cents per share.

Investors were clearly pleased with the result.

At the time of writing, the shares are up around 4% for the day so far and are changing hands at a multi-year high of $40.50 a piece.

The shares are now up around 38% for the year-to-date and are 21% higher than 12 months ago.

But after the latest rally, market experts are warning that the shares are now overpricing and trading above fair value.

Market Index data shows sentiment is split between a hold and sell rating. But the $37.13 average target price now implies a potential 8% downside over the next 12 months, at the time of writing.

Hold BHP shares

Mining giant BHP has had an exceptional rally over the past 12 months. Copper prices have significantly boosted the miner’s profits at the same time that iron ore has remained reasonably resilient.

The latest rally was also supported by the miner’s record FY26 earnings results, which it posted to the ASX last week. 

The group posted a strong operational performance across all its key segments and an impressive 27% increase in its underlying EBITDA. 

Investors were clearly thrilled with the results and many rushed to snap up the stock.

At the time of writing, BHP shares are up around 0.5% and trading at a fresh all-time high of $68.02 a piece. That’s a 49% increase for the year-to-date and 60% above trading levels this time last year.

But after a strong rally, it looks like BHP shares have now reached a ceiling. In fact, some think that the stock is now trading above fair value and could be due a correction.

Market Index data shows that the majority of brokers have a hold rating on BHP shares. But the $61.78 average target price now implies a 9% downside ahead, at the time of writing.

The post South32, Woolworths, BHP shares reach 52-week high: Buy, sell or hold? appeared first on The Motley Fool Australia.

More reading

• Inflation falls again, but could the RBA still raise interest rates?
• Everything you need to know about the Woolworths dividend
• ASX 200 closes in on record territory as BHP and Woolworths surge
• Why Woolworths, Domino’s and DroneShield shares are turning heads on Wednesday
• How many Woolworths shares do I need to earn $10,000 per year in passive income?

Motley Fool contributor Samantha Menzies has positions in BHP 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 BHP Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The Corporate Travel Management Ltd (ASX: CTD) share price is in focus as the company unveils new $175 million debt facilities and expects to recognise a $29 million liability in its European segment following a revenue recognition review.

What did Corporate Travel Management report?

• Secured new $175 million debt facilities with PEP Credit, replacing existing $75 million facility
• Maintains $65 million bank guarantee and transaction facilities from existing lenders
• Estimates annualised cash interest costs will be around $20 million in FY27 and FY28
• Will recognise a $29 million liability in the European segment due to revenue recognition review
• Impairment charge of $89 million expected for the ANZ segment

What else do investors need to know?

Corporate Travel Management’s FY25 and 1H26 financial statements will be released by 28 August 2026, with the company expecting its FY26 full year results to follow soon after. The company has completed reviews into its air margin accounting in Europe and asset impairments for key segments, providing shareholders with clarity on historical financial issues.

CTM continues to enjoy strong support from lenders, securing both traditional and new financing options to manage its ongoing obligations, including remediation payments to key UK clients. The new funding enhances liquidity and ensures operational stability as the company completes its outstanding statutory reporting.

CTM has appointed Barrenjoey and Morgans Financial Limited to assist with investor engagement during this period of transition.

What did Corporate Travel Management management say?

Managing Director and Group CEO Ana Pedersen said:

These financing arrangements are an important step forward for CTM and provide greater certainty as we complete our outstanding financial reporting. We have made substantial progress resolving the historical matters identified through our reviews, allowing us to move forward with greater clarity and focus for our clients, employees, shareholders and other stakeholders.

What’s next for Corporate Travel Management?

The company is focused on completing its FY25 and 1H26 financial statements and expects to provide FY26 results soon after. Meeting the conditions of the new debt facilities—such as issuing audited accounts without a going concern qualification—remains a key priority.

CTM is working to finalise contract negotiations in the UK and address remediation obligations. The new funding arrangements and ongoing lender support put CTM on a firmer financial footing as it looks to rebuild confidence and support stakeholders into FY27 and beyond.

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The post Corporate Travel Management secures new funding and updates on FY25 and FY26 earnings appeared first on The Motley Fool Australia.

More reading

• Corporate Travel Management updates UK remediation progress and settlement terms
• Corporate Travel Management teams up with Amadeus for global tech upgrade
• Corporate Travel Management secures new UK Ministry of Defence contract

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 positions in and has recommended Corporate Travel Management. The Motley Fool Australia has positions in and has recommended Corporate Travel Management. 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.

The L1 Gold Fund Ltd (ASX: LGF) share price is back in focus today as the company wraps up its institutional placement and entitlement offers, raising about $254.9 million with strong shareholder demand.

What did L1 Gold Fund report?

• Successfully completed an institutional placement, entitlement offer, and shortfall offer totalling approximately $254.9 million at $2.25 per new share
• Placement raised $160.3 million, Institutional Entitlement Offer $52.5 million, and Shortfall Offer $42.0 million
• Founders Mark Landau and Raphael Lamm fully participated, taking up $52.5 million in entitlements
• New shares to be allotted on 2 September 2026 and commence trading on 3 September 2026
• Retail entitlement offer aiming to raise up to $261.7 million opens 31 August 2026

What else do investors need to know?

The placement and entitlement offers received strong support from both existing and new eligible shareholders, highlighting ongoing confidence in the company and the gold sector. L1 Group chose not to take up its $42 million entitlement so these shares could be allocated to new investors in the shortfall offer, but may subscribe to any retail shortfall.

Eligible retail shareholders will be able to buy 1 new share for every 3 held as at the record date, at an issue price matching the pre-tax net tangible asset value. The offers are not underwritten and the investment manager, L1 Capital Pty Ltd, will bear all fundraising costs.

What’s next for L1 Gold Fund?

The retail entitlement offer will open on 31 August 2026 and close on 9 September 2026. Eligible investors can also apply for extra shares beyond their entitlement through a top-up facility, with allocation at the company’s discretion.

Once the capital raising is complete, L1 Gold Fund expects to use the fresh funds to continue investing in gold and precious metals, aiming to strengthen its portfolio for long-term shareholder value.

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The post L1 Gold Fund raises $254.9m in placement and entitlement offers appeared first on The Motley Fool Australia.

More reading

• L1 Gold Fund posts debut FY26 result and capital raise update

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.