S&P/ASX 200 Index (ASX: XJO) shares rose 2.77% and produced total returns, including dividends, of 7% in FY26.   

Here, we take a look at how one expert currently views three of the giants of the index at the start of FY27 (courtesy The Bull). 

Are they a buy, hold, or sell? 

BHP Group Ltd (ASX: BHP)

The BHP share price skyrocketed 62% to close out FY26 at $59.40. 

Blake Halligan from Catapult Wealth has a buy rating on this ASX 200 mining share. 

He said: 

The global miner holds dominant positions in iron ore and copper and is leveraged to increasing demand during the energy transition.

A review of the Jansen stage 2 potash project in Canada resulted in a cost blowout of about $US2 billion to $US6.9 billion.

Despite the Jansen impairment and the risk of industrial action at iron ore operations in the Pilbara region of Western Australia, near term earnings momentum remains strong.

Elevated copper prices and strong iron ore prices supported performance in full year 2026.

The balance sheet remains robust with low net debt, while a recent dividend yield above 3 per cent adds income appeal.

BHP offers cyclical upside and long term growth exposure to copper.

The copper price rose by 18% in FY26 and iron ore lifted 7%. 

Woodside Energy Group Ltd (ASX: WDS)

The Woodside share price increased 19% over FY26 to finish the financial year at $28.21.

Halligan has a hold rating on this ASX 200 energy share, and commented:

Woodside Energy is a major Australian LNG producer with a portfolio of global gas projects.

The company is increasing its stake in the Browse joint venture to 41.27 per cent via a $US225 million deal, reinforcing its strategy to extend the life of the North West Shelf.

This adds long term upside along with the Scarborough project, which is 94 per cent completed.

However, regulatory uncertainty, rising costs and policy risks in Australia temper the outlook.

While growth options are significant, execution and approvals risk support a balanced hold stance at current valuation levels.

Oil prices slumped to pre-war levels shortly after the US and Iran agreed to an interim peace deal last month.  

PLS Group Ltd (ASX: PLS)

PLS Group shares soared 275% to close out FY26 at $5.02. 

Halligan explained his sell rating on the ASX 200 lithium share: 

PLS Group is a leading Australian lithium producer focused on spodumene concentrate.

Over the past three months, sentiment has been driven by a sharp rebound in spot spodumene prices and improving earnings expectations.

Stronger spodumene prices are triggering global supply re-starts and expansions.

The company’s valuation already reflects elevated prices amid supply growth potentially adding pressure on margins.

Lithium spodumene was at the top of the list of best-performing commodities of FY26 by a long way.

The lithium spodumene price rose about 280%, and carbonate soared 160%. 

 

 

The post Buy, hold, sell: BHP, Woodside, PLS Group shares appeared first on The Motley Fool Australia.

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Motley Fool contributor Bronwyn Allen 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 Dexus (ASX: DXS) share price is in focus today after fresh portfolio valuations showed a slight 0.2% book value decrease to 30 June 2026, with office down 0.4% but industrial assets up 0.5%.

What did Dexus report?

• External independent valuations of 175 assets as at 30 June 2026
• Estimated total portfolio value decreased by $24 million, or 0.2%, in the six months to 30 June 2026
• Office portfolio value decreased by 0.4% due to higher capitalisation and discount rates
• Industrial portfolio value increased by 0.5%, mainly from rental growth and a firmer discount rate
• Weighted average capitalisation rate: 6.22% for office, 5.58% for industrial, and 6.06% total

What else do investors need to know?

Dexus noted that market rental growth contributed positively to valuations, especially in the industrial sector, which offset some pressure from increasing capitalisation rates in the office portfolio. Marginally softer capitalisation rates affected both asset classes, but fundamentals are helping to steady results. Valuation specifics and any further commentary on individual assets will be provided with Dexus’s FY26 results on 20 August 2026. These updated values do not include Dexus’s retail assets, and figures are subject to change on finalisation.

What did Dexus management say?

Dexus Group CEO and Managing Director Ross Du Vernet said:

The valuations reflect a stabilising market that is being driven by fundamentals. Capitalisation rates were slightly softer in both the office and industrial portfolios, with rental growth and capex assumptions generally driving valuation outcomes across the stabilised portfolios.

What’s next for Dexus?

Dexus’s formal FY26 results will land on 20 August 2026; this will contain further detail on each property’s valuation and outlook for the business. The company remains focused on its real estate development pipeline and leveraging its diverse asset base to unlock further value and deliver long-term growth for investors. As market conditions continue to evolve, Dexus’s integrated platform and experienced management team are positioning it to navigate trends in office and industrial property, with an eye on sustainability and future opportunities.

Dexus share price snapshot

Over the past 12 months, Dexus shares have declined 22%, trailing the S&P/ASX 200 Index (ASX: XJO), which has risen 3% over the same period.

View Original Announcement

The post Dexus’ portfolio valuations show office fall, industrial gain 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.

The Genesis Minerals Ltd (ASX: GMD) share price is in focus today as the company confirmed it has delivered a binding proposal to merge with Vault Minerals Ltd (ASX: VAU). The proposed deal values Vault at A$5.6 billion and would create an Australian gold major with pro-forma annual production of 600–700,000 ounces and a market capitalisation of A$12.6 billion.

What did Genesis Minerals report?

• Genesis has made a binding proposal to acquire all Vault shares via a scheme of arrangement.
• The offer includes 0.7629 new Genesis shares plus A$0.475 in cash per Vault share, implying total consideration of A$5.274 per Vault share.
• Vault shareholders would own 40.2% of the enlarged Genesis Group; Genesis shareholders would own 59.8%.
• Estimated post-tax synergies of approximately A$2.0 billion, with A$1.5 billion unique to this transaction over 10 years.
• The combined group would have 33.6 million ounces in mineral resources and 9.4 million ounces in ore reserves.
• The pro-forma balance sheet shows A$611 million net cash and liquidity of A$1.3 billion.

What else do investors need to know?

Genesis’ proposal comes after Vault’s board unanimously deemed it a “Vault Superior Proposal” under its current scheme implementation deed with Regis Resources. However, Regis’ five-day right to match is in effect, limiting Vault’s ability to sign a binding agreement with Genesis until this period ends on 10 July 2026. The offer is not subject to due diligence or financing conditions. Genesis has secured revolving credit facilities to fund the A$500 million cash component, ensuring the enlarged group maintains a strong balance sheet post-merger. Board and management changes are planned if the scheme goes ahead, with representation from both companies and key executive roles remaining with Genesis’ current team, led by Managing Director Raleigh Finlayson.

What’s next for Genesis Minerals?

If Regis chooses not to match the proposal, Vault can move ahead to formalise the agreement with Genesis. The enlarged Genesis Group plans to consolidate operations in Western Australia’s Leonora-Laverton gold district, aiming for sector-leading scale, liquidity, and growth potential. Further value could be realised through operational synergies, optimising processing facilities, and enhanced supply chain efficiency. Investors should follow the outcome of Regis’ matching period and future updates as the proposed merger progresses.

Genesis Minerals share price snapshot

Over the past 12 months, Genesis Minerals shares have risen 51%, outperforming the S&P/ASX 200 Index (ASX: XJO) which has risen 3% over the same period.

View Original Announcement

The post Genesis Minerals proposes Vault merger to create gold powerhouse appeared first on The Motley Fool Australia.

More reading

• Capricorn Metals hits upper end of FY26 gold production guidance, advances project expansions
• Vault Minerals receives superior $5.6bn merger proposal from Genesis Minerals
• Regis Resources hits top end of FY26 guidance
• Infratil shares on watch after CDC Data Centres’ valuation climbs
• Greatland Resources posts record FY26 gold output

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.