The S&P/ASX 200 Index (ASX: XJO) has dipped into the red on Tuesday morning as oil prices climb higher and gold falls. 

Find out how three of the biggest ASX 200 shares, CSL Ltd (ASX: CSL), Westpac Banking Corp (ASX: WBC), and BHP Group Ltd (ASX: BHP) shares are tracking today. And which one brokers rate as a buy, a hold, and a sell.

BUY CSL shares

CSL shares are up around 0.5% at the time of writing on Tuesday, to $185.21 a piece. The ASX biotech shares have now rebounded 101% from a 10-year low in June. They’re 8% higher year to date.

Last week, the company said it had entered into an exclusive US$1.6 billion deal with Alentis Therapeutics for lixudebart, a treatment targeting rare kidney and liver conditions.

CSL is expected to make an initial upfront payment of US$355 million to Alentis Therapeutics, and it will make additional commercial milestone payments of up to US$1.2 billion depending on the commercial success.

The update follows a rebound in investor confidence and a robust FY26 results announcement in August. The company said that it expects a return to growth in FY27. 

The experts are confident that the company can deliver. Market Index shows the majority have a buy rating on the shares, but after the latest increase, the $159.86 average target price implies a downside of around 14%, at the time of writing.

HOLD BHP shares

BHP shares have slumped lower today, down around 1.5% to $61.57 at the time of writing. Despite the decline, the shares are still up around 35% year to date and 47% higher than this time last year.

It looks like ASX mining shares are facing headwinds from broad market weakness and ongoing operational disruptions.

Last month, BHP was forced to suspend mining activities at its Escondida copper mine in Chile after a fatal accident. Under Chilean mining regulations, operations cannot restart following a fatal accident until safety inspectors have confirmed that conditions are safe. There is no indication when production might resume. 

Higher oil prices today also act as a headwind for BHP because they drive up operational costs. Trading Economics shows that crude oil has surpassed US$93 per barrel this morning, following three consecutive sessions of gains.

Investors are hesitant about BHP shares, and so are the experts. Market Index data shows the majority of brokers have a hold rating on the mining shares. The current $61.50 average target price is close to flat on the trading price at the time of writing.

SELL Westpac shares

Westpac shares are slightly higher at the time of writing, up around 0.5% to $34.71 a piece. The increase is good news for investors. The ASX bank shares have tumbled around 11% lower for the year to date, and they’re also 11% lower than a year ago.

The Reserve Bank’s latest interest rate hike continues to put pressure on Westpac shares. The move also comes at a time when there is a broad slowdown in Australia’s property market, lower mortgage applications, and falling confidence in bank shares.

Westpac shares have been pushed into the spotlight this week amid fresh media reports that it plans to cut 102 jobs as part of its restructuring plans. The Financial Services Union (FSU) said Westpac is proposing to restructure its Risk, Institutional Banking, and Finance teams, affecting a total of 174 jobs. Of those roles, 102 positions will be made redundant, while the remaining 72 will be moved to comparable roles.

Market Index data shows that the experts are already bearish about the outlook for Westpac shares. The majority have a sell rating on the shares. The average target price of $34.18 implies a downside of around 1% at the time of writing.

The post CSL, Westpac, BHP shares: Buy, hold, or sell? appeared first on The Motley Fool Australia.

More reading

• If I buy $6,000 of Westpac shares, how much dividend income will I receive in 2027?
• UBS’ top nine ASX large-cap stock picks
• CSL shares: Buy, hold, or sell?
• I screened the ASX for quality and value. These 5 shares stood out
• Buy, hold, sell: BHP, Westpac, and Zip shares

Motley Fool contributor Samantha Menzies has positions in BHP Group. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended CSL. The Motley Fool Australia has recommended BHP Group and CSL. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Uranium project developer Atomic Eagle Ltd (ASX: AEU) was formed late last year through the reverse takeover of GoviEx Uranium by Tombador Iron.

Since that time, it has been proving up the resources at its Muntanga heap leach uranium project in Zambia, as well as progressing studies at the Madaouela project in Niger, which it owns a 60% stake in.

Broker Morgans has recently initiated coverage of the company with a speculative buy recommendation and a very bullish share price target, which I’ll get to shortly.

First, let’s have a look at the company’s projects.

Zambian project coming together well

Atomic Eagle’s flagship asset is the Muntanga project, where it has to date proved up a resource of 58.8 million pounds of uranium.

The company currently has drilling ongoing at Muntanga, and recently said new drilling at Muntanga North had identified a zone of uranium mineralisation that remains open along strike and down dip.

Atomic Eagle Chief Executive Officer Phil Hoskins said of the program:

The objective of our 30,000m drilling program is to grow the Muntanga resource base while systematically testing a portfolio of exploration targets across the broader Project area. Earlier drilling at Chisebuka delivered encouraging results and is expected to support future resource growth. We are further encouraged by the results at Muntanga North, where wide-spaced drilling has identified a zone of uranium mineralisation that remains open along strike and down dip to the east. We are over half-way through an active exploration program, with the large-scale Muntanga North Targets 6 to 8 still to be tested.

Atomic Eagle also recently said in a statement to the ASX that it had started a technical review of the Madaouela project, designed to “evaluate opportunities to increase project scale, expand the mining inventory and enhance project economics relative to the earlier 2022 Feasibility Study undertaken by GoviEx”.

Madaouela currently has a resource of 116 million pounds of uranium, and US$160 million has been spent on the project to date.

Shares looking cheap, broker says

Morgans, in its new research note on the company, said it was currently being valued on Muntanga alone.

They said that the project was “capital light”, and they had confidence in the board, which had experience bringing uranium projects into production.

Morgans has a price target of 80 cents per share on Atomic Eagle, compared to 35 cents currently.

They added:

Most of the value is currently derived from Muntanga via a discounted cash flow valuation with a 10.5% weighted average cost of capital, supplemented by risked value for undeveloped resources, AEU’s interest in Madaouela and unpaid capital via current options. We believe the market is discounting Madaouela and resource growth potential, creating an attractive entry point for long-term investors.

Atomic Eagle is valued at $134.2 million.

The post Could this ASX uranium developer more than double in value? appeared first on The Motley Fool Australia.

More reading

• Should smart investors be buying NAB shares?
• Buy, hold, sell: Wildcat Resources, Ramsay Health Care, CBA shares
• ANZ shares rebound 12% from a 52-week low: Buy, hold, or sell?
• A rare buying opportunity in 1 of Australia’s top shares?
• A top fund manager is bullish on these ASX 200 shares

Motley Fool contributor Cameron England 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.

It hasn’t been an easy period for Australian bank shareholders.

National Australia Bank Ltd (ASX: NAB) shares have lost substantial ground from their highs, with investors becoming increasingly cautious about the economic outlook.

But could that weakness be creating a buying opportunity?

Here’s how I see it.

What makes NAB shares worth considering?

One reason I have always liked NAB is its strong position in Australian business banking.

The bank has established relationships with businesses of all sizes, providing everything from everyday banking and payment services to financing for expansion and investment.

I think that gives NAB an attractive position in the Australian economy. As businesses grow, their banking requirements often become more complex, creating opportunities for NAB to deepen those relationships and generate additional revenue.

The bank also has a substantial presence in residential mortgages and deposits, providing another important source of earnings.

For me, that combination makes NAB a solid long-term business. It has several ways to generate profits, an established customer base, and the financial strength to reward shareholders with regular dividends.

Of course, the economic environment will influence how much those businesses can grow over the next few years.

What do rising interest rates mean?

This is probably the biggest question facing NAB and the other major banks right now.

Interest rates have been rising as the Reserve Bank of Australia attempts to bring inflation under control, and further increases could be on the way in the coming months.

For NAB, higher rates create opportunities and challenges. Banks can benefit when lending rates rise faster than the interest they pay on deposits, supporting their net interest margins.

But that benefit depends on competitive conditions. Banks are also competing hard for deposits and mortgage customers, which can limit how much additional profit they generate from higher rates.

There is also the impact on borrowers to consider. More expensive mortgages and business loans can reduce demand for credit, while prolonged pressure on household and business finances could eventually lead to higher bad debts.

I think NAB is well placed to manage these conditions, but I would not expect particularly strong earnings growth while the economy adjusts to higher borrowing costs.

Has the share price fallen far enough?

NAB shares are trading around $38.62 on Tuesday, well below their 52-week high of $49.45. That represents a decline of approximately 22%.

At this lower price, I think investors are getting a more reasonable entry point into a business that should remain profitable through the economic cycle.

Consensus forecasts point to earnings per share (EPS) of $2.38 in FY26 and $2.54 in FY27. That is modest growth, but it puts NAB on approximately 15 times forecast FY27 earnings at the current share price.

I think that looks reasonable for a major Australian bank with NAB’s established market position.

There is also a healthy dividend to consider. Analysts expect NAB to pay fully franked dividends of $1.70 per share in FY26 and $1.72 in FY27.

At today’s price, the FY27 forecast represents a dividend yield of approximately 4.5%, before franking credits.

For income investors, I think that provides another reason to consider the shares, particularly if the bank can maintain its profitability while interest rates remain elevated.

Foolish takeaway

I think NAB shares are worth buying around $39.

The next year could be challenging for the banking sector, and I would keep my expectations for earnings growth fairly modest.

But I like NAB’s business banking franchise, and the recent share price weakness has made the valuation more reasonable.

With a healthy dividend on offer as well, I would be comfortable buying at current levels and holding for the long term.

The post Should smart investors be buying NAB shares? appeared first on The Motley Fool Australia.

More reading

• If I invest $15,000 in NAB shares, how much passive income will I receive in 2027?
• How much passive income can I earn from a $950,000 superannuation balance?
• Westpac vs NAB shares: Which big bank is the better buy?
• How much could the big 4 banks’ share prices fall?
• How much superannuation do I need to earn $56,000 per year in passive income?

Motley Fool contributor Grace Alvino 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.