With the gold price booming again, now could be a good time to buy the ASX 200 gold stock in this article.

This is especially the case after a “transformational” year according to the team at Bell Potter.

Which ASX 200 gold stock?

The stock in question is Alkane Resources Ltd (ASX: ALK).

Bell Potter was impressed with the company’s performance in FY 2026, highlighting that it delivered record results and growth across all key metrics. It said:

ALK reported an FY26 financial result that delivered record results and substantial YoY growth across all key financial metrics, together with a maiden dividend of 2cps. This followed the merger with Mandalay Resources (MND:TSX), completed in August 2025 and consecutive quarters of record production from the combined portfolio. Key metrics included revenue of $936m (vs BPe $946m), EBITDA of $471m (vs BPe $473m), and NPAT $229m (vs BPe $238m). 

The maiden dividend of 2cps ($27m payout) was accompanied by the announcement of a share buyback of up to $50m, in a further commitment to returning capital to shareholders and a signal on the value ALK sees in its paper. EBITDA margins lifted from 36% to 50% YoY on higher gold and antimony prices, as well as the dilution of ALK’s out-of-the-money hedge book. At end FY26, ALK held cash and bullion of $439m (vs $190m at completion of the MND merger) and no drawn bank debt. FY27 guidance was reaffirmed, for 163-177koz at AISC of A$2,900-$3,200/oz, implying steady production and ~5% higher costs YoY.

Time to buy

According to the note, in response to the results, Bell Potter has retained its buy rating on the ASX 200 stock with an improved price target of $2.15.

Based on its current share price of $1.85, this implies potential upside of 16% for investors over the next 12 months.

Commenting on its buy recommendation, Bell Potter said:

EPS changes in this report are: FY27: -3%; FY28: -2% and FY29: -5%, reflecting a lower antimony price, higher CAPEX and D&A over the medium term. We also incorporate a sustainable dividend into our modelled assumptions. ALK offers multi-mine gold and antimony exposure across three attractive jurisdictions with a strong balance sheet and available liquidity that provides a platform for growth. Our Target Price lifts 2% to $2.15/sh. Valuation metrics remain undemanding and we retain our Buy recommendation.

The post This ASX 200 gold stock could be a top buy after a ‘transformational’ year appeared first on The Motley Fool Australia.

More reading

• 8 ASX mining shares hitting 52-week highs today
• Alkane Resources discovers new high-grade gold zone at Costerfield
• Alkane Resources declares maiden dividend and $50m share buy-back after strong FY26

Motley Fool contributor James Mickleboro 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.

The PolyNovo Ltd (ASX: PNV) share price is in focus after the company reported full-year revenue growth of 16.1% to $150 million and a positive net profit after tax of $7.3 million, marking another year of operational and financial progress.

What did PolyNovo report?

• Total revenue rose 16.1% to $150.0 million
• Commercial sales climbed 16.7% to $138.4 million (21.3% in constant currency)
• EBITDA increased 8.1% to $12.1 million; underlying EBITDA was up 50.4% to $13.4 million
• Positive NPAT of $7.3 million, impacted by one-off items
• Operating cash flow was $23.1 million and free cash flow reached $9.4 million
• Gross margin was 89.0%, down from 95.6% due to inventory changes

What else do investors need to know?

PolyNovo completed construction of its new manufacturing facility, with validation progressing ahead of the planned transition in FY27. Manufacturing output increased significantly in the second half, supporting greater efficiency and future growth capacity.

The company continued to expand clinical evidence for its NovoSorb® platform beyond burns, with key government-backed clinical trial milestones achieved. PolyNovo also advanced regulatory efforts, with PMA submission activities underway to unlock future reimbursement and market opportunities in the US.

What did PolyNovo management say?

Bruce Peatey, Chief Executive Officer of PolyNovo, said:

FY26 was a year of capability building and strategic alignment. We delivered strong commercial growth, expanded our manufacturing capacity, strengthened our balance sheet and continued to invest in the evidence, products and capabilities that will drive PolyNovo’s next phase of growth. During FY26, we sharpened our strategic focus and aligned the business around three clear priorities: accelerating growth in our core wound care franchise, building the next growth engine for PolyNovo, and establishing the global operating structure required to scale efficiently and consistently. Importantly, we achieved this while generating strong cash flow, strengthening our balance sheet, and continuing to invest in the future of the NovoSorb platform.

What’s next for PolyNovo?

Looking ahead, PolyNovo is focused on execution as it prepares for the next phase of growth. The company expects to ramp up production in its new facility and deliver further commercial expansion of NovoSorb® MTX into new indications and geographies.

Regulatory submissions, especially the planned PMA in the US, are set to play a key role in broadening reimbursement and adoption. A new dedicated business development function will seek out partnerships and licensing opportunities to extend the NovoSorb® platform, aiming to drive sustained growth.

PolyNovo share price snapshot

Over the past 12 months, PolyNovo shares have declined 16%, trailing the All Ordinaries Index (ASX: XAO), which has risen 1% over the same period.

View Original Announcement

The post PolyNovo FY26 earnings: Revenue jumps, profit steady appeared first on The Motley Fool Australia.

More reading

• Down 35% for the year, is it time to buy this beaten-down ASX biotech?

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 PolyNovo. 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 Deep Yellow Ltd (ASX: DYL) share price is in focus today after the company announced the completion of two major milestones at its flagship Tumas Project in Namibia, including a long-term water supply agreement and the finalisation of local ownership arrangements.

What did Deep Yellow report?

• Secured a long-term Water Supply Agreement for the Tumas Project with NamWater, covering construction, commissioning, and operational phases.
• Formalised local Namibian ownership with Oponona Investments for a 5% stake in Reptile Uranium Namibia (RUN), supporting project licensing.
• Oponona’s share of historic and future Tumas expenditure will be carried as an interest-free loan, repayable from future dividends.
• Bulk earthworks at Tumas are complete, with over A$34 million in civil and concrete works now underway.
• Final Investment Decision for Tumas targeted for Q4 2026, subject to market conditions.

What else do investors need to know?

The agreement with NamWater secures one of Tumas Project’s most critical long-term operating requirements, giving confidence around water supply for construction and future uranium production. These latest milestones bolster project certainty and construction readiness.

Deep Yellow also advanced key corporate social responsibility goals, with Oponona’s stake and a Special Purpose Entity set up to ensure community benefit initiatives are implemented. Importantly, Oponona’s loan structure aims to balance local ownership with financial sustainability, as repayments come from their dividend share.

The company continues to make progress on detailed engineering, procurement, and optimisation, as well as working towards securing project financing and enabling infrastructure before the anticipated Final Investment Decision later this year.

What did Deep Yellow management say?

Deep Yellow’s CEO, Greg Field, commented:

This is another great outcome for Deep Yellow. We have closed out two important workstreams and continue to build momentum as we systematically prepare Tumas for development. Our approach has been clear and consistent – remove uncertainty wherever we reasonably can and build execution certainty before committing shareholder capital at FID. That is what we said we would do and it is what we are delivering. Securing long-term water provides certainty over one of Tumas’ most critical operating requirements while the Oponona agreements give effect to local ownership arrangements contemplated under a binding Heads of Agreement previously disclosed by Deep Yellow.

These milestones build on completed bulk earthworks, major civil and concrete works now underway, and continued progress across engineering, procurement, optimisation and financing. Tumas is becoming progressively more de-risked and construction-ready. We have real momentum and will continue systematically closing out the remaining workstreams as we build the strongest possible platform for a disciplined investment decision.

What’s next for Deep Yellow?

Deep Yellow is focused on successfully progressing its Tumas Project towards a Final Investment Decision in Q4 2026. The company is systematically working through all key development workstreams—aiming to reduce risk and lift execution certainty.

Beyond Tumas, Deep Yellow continues to advance projects in Western Australia and Namibia, with its goal to become a leading global uranium producer. The team is also alert for high‑quality M&A opportunities that align with its long-term growth strategy.

Deep Yellow share price snapshot

The Deep Yellow share price has modestly outperformed the S&P/ASX 200 index (ASX: XJO) over the past 12 months with a gain of 5%.

View Original Announcement

The post Deep Yellow delivers key Tumas milestones and secures project progress in Namibia appeared first on The Motley Fool Australia.

More reading

• Here are the top 10 ASX 200 shares today
• Here are the top 10 ASX 200 shares today
• 3 ASX mining companies this broker says could more than double in value
• Deep Yellow advances Tumas uranium project and reports $160m cash

Motley Fool contributor James Mickleboro 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.