Elevra Lithium Ltd (ASX: ELV) shares are slipping on Friday after the lithium producer released an early look at its June quarter.

At the time of writing, the Elevra Lithium share price is down 4.54% to $8.62. By comparison, the S&P/ASX 200 Index (ASX: XJO) is up 0.5% to 8,809 points.

Despite today’s decline, Elevra shares remain up around 7% in 2026 and have climbed roughly 220% since this time last year.

The latest numbers included another strong quarter at the mine, although the lower price received for its lithium appears to be weighing on the stock.

Here’s what the company reported.

Production finishes the year strongly

According to the release, Elevra produced approximately 54,479 dry metric tonnes (dmt) of spodumene concentrate during the June quarter.

Production rose 15% from the March quarter and marked the second-highest quarterly result achieved at North American Lithium.

The operation delivered a particularly strong May, producing approximately 22,202 tonnes. Elevra described this as a monthly production record.

Full-year production reached approximately 197,968 tonnes, giving the company a stronger finish to FY26.

Management put the improvement down to continued work on plant optimisation, ore feed consistency, and recoveries. The company also pointed to throughput and operating efficiency gains across the quarter.

However, sales didn’t keep pace with production.

Sales came in at around 33,977 tonnes, which the company linked to customer delivery schedules.

As a result, Elevra finished June with a provisional inventory of around 40,863 tonnes.

Pricing takes the shine off production gains

The price Elevra received for its lithium was less than impressive.

The company reported provisional average realised pricing of approximately US$919 per tonne, sold free on board.

Management said June shipments were priced under contracts linked to average market prices between October 2025 and March 2026.

Lithium prices were lower through much of that period, which left Elevra receiving less than the current spot market.

The June quarter sales were also made under the company’s largest legacy contract, which uses the same delayed pricing structure.

Currently, the spot price for lithium is sitting at 158,500 CNY, down 3.35% for the day.

Can Elevra shares recover?

I think Elevra shares can recover from here.

Production is improving, and the pricing lag should start to ease as more sales move onto newer contracts.

The next step is to turn that higher output into better sales and cash flow, particularly after inventory increased during the quarter.

The full quarterly report later this month should show whether higher production is starting to improve the rest of the business.

The post Why record production could not save this ASX lithium stock today appeared first on The Motley Fool Australia.

More reading

• Top 5 ASX 200 lithium shares of FY26
• 13 ASX 200 shares that doubled in value in FY26
• 5 best ASX 200 mining shares of FY26
• ASX shares vs. property in FY26: Which investment outperformed?
• Here are the top 10 ASX 200 shares today

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.

BHP Group Ltd (ASX: BHP) shares are rising strongly on Friday, up 2.2% to $58.09 apiece.

FY26 was a big year for the ‘Big Australian’.

The BHP share price soared 62% in FY26 to finish at $59.40 on 30 June.

BHP was one of the strongest performers for capital growth amongst the ASX 200 large-cap shares last year.

The company benefited from a rotation into mining stocks, as well as an 18% rise in the copper price and a 7% increase in the iron ore price.

While BHP is still a major iron ore producer, it is also now the world’s largest copper producer.

Copper, essential for electrification, rose to a record US$6.60 per pound in May amid high demand due to the green energy transition.

In 1H FY26, copper made up for more than half of BHP’s underlying earnings before interest, taxes, depreciation, and amortisation (EBITDA). 

In its 3Q FY26 update, BHP said strong production at Escondida in Chile and Antamina in Peru meant it expected group production for full-year FY26 would be at the upper end of its guidance.

There was mixed news relating to other parts of the business in FY26.

In February, BHP announced a long-term silver streaming agreement with Wheaton Precious Metals Corp (NYSE: WPM).

The miner received US$4.3 billion upfront, which strengthened the balance sheet, for a share of its silver from Antamina.

But there was trouble at the Jansen potash project in Canada. In June, BHP revealed a US$2 billion estimated cost blow-out for Stage 2.

The miner said it now expected Stage 2 to cost US$6.9 billion, up from the previous estimate of US$4.9 billion.

Jansen Stage 1 remains on track for first production in FY27.

In March, we learned that CEO Mike Henry would be stepping down on 1 July after six-and-a-half years at the helm.

He was replaced by Brandon Craig, who has worked at BHP for 25 years and was formerly President of the Americas division.

In May, BHP took back its crown as the ASX 200’s largest company by market cap from Commonwealth Bank of Australia (ASX: CBA).

What do the experts think about BHP shares?

Looking ahead to FY27, brokers have a mixed view on whether BHP shares are a buy, hold, or sell.

They also offer a range of 12-month price targets on the ASX 200 mining share.

Let’s start with some consensus views, then hear some explanations from individual analysts regarding their ratings.

On the TradingView platform, there is a consensus neutral rating (equivalent to a hold call) from 20 analysts.

Four analysts give BHP shares a strong buy rating, 13 say hold, two say sell, and one analyst has a strong sell rating.

The 12-month share price targets among those 20 analysts range from $43.94 to $94.10.

On the CommSec trading platform, 19 analysts provide a hold consensus rating.

Four give the miner a strong buy rating, 14 say hold, and there is one strong sell recommendation.

Who says buy, and why?

Morgan Stanley maintained its buy rating on BHP shares with a 12-month price target of $67.50 yesterday.

Deutche Bank also gives BHP shares a buy call, and raised its target from $50.25 to $52.19 earlier this month.  

Blake Halligan from Catapult Wealth also has a buy rating on BHP shares and explains why:  

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

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.

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

Who has a hold call on BHP shares?

Hold is the dominant rating among the experts today.

Morgans reiterated its hold call on BHP shares yesterday, and increased its 12-month target from $54.90 to $59.80.

Bank of America, which has a history of optimistic price targets on BHP shares, reiterated its hold rating on Wednesday and reduced its target from $70 to $65.

Other analysts who reiterated hold calls but reduced their targets this week include Citi, from $66 to $63, and Jefferies, from $68 to $65.

Meanwhile, Macquarie stayed at $55, and UBS remained at $60 per share.

The most pessimistic target we found was $40.10, suggested by Barclays this week. This implies a potential 30% downside in FY27.

On The Bull, Remo Greco from Sanlam Private Wealth explained why he has a hold rating on BHP shares:

Several disappointing events have led us to downgrade BHP to a hold.

Cost over-runs at its Jansen stage 2 potash project in Canada lifts the investment cost by about $US2 billion to $US6.9 billion. Possible industrial action, although averted in June, may re-ignite at the company’s iron ore operations in the Pilbara region of Western Australia.

Any industrial action may impact stock performance.

Longer term, we like BHP’s exposure to copper – the key metal of the future.

James Bills from Shaw and Partners also has a hold rating and commented:  

BHP remains a cornerstone of the Australian sharemarket, underpinned by its scale, diversified commodity exposure and strong balance sheet.

While iron ore continues to drive earnings, BHP is increasingly leveraged to future-facing commodities, including copper, where demand is expected to increase significantly due to growth in data centres and electric vehicles.

Despite near term volatility in commodity prices and sensitivity to global growth, the company’s disciplined capital management and strong cash generation support shareholder returns.

Holding remains appropriate given its quality asset base and exposure to long term structural demand trends.

Michael Gable from Fairmont Equities recommends holding BHP shares because “the commodities bull market is still in the early stages of the latest cycle”.

Experts say there are five fundamentals driving this new commodities supercycle. Learn more about them here.

The post Here’s what brokers tip for BHP shares over the next 12 months appeared first on The Motley Fool Australia.

More reading

• 9 ASX 200 shares with reiterated buy calls this week
• The bull and bear case for CBA and BHP shares
• Which ASX 200 sectors paid the highest dividend yields in FY26?
• China’s CPI and PPI data drops today. Here is the potential impact for these ASX shares
• I’d buy these 5 ASX dividend investments for retirement income

Citigroup is an advertising partner of Motley Fool Money. Bank of America is an advertising partner of Motley Fool Money. Motley Fool contributor Bronwyn Allen has positions in BHP Group. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Jefferies Financial Group and Macquarie Group. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Barclays Plc. The Motley Fool Australia has recommended BHP Group and Macquarie Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Bravura Solutions Ltd (ASX: BVS) shares have taken off on Friday after the financial software company delivered a better-than-expected FY26 earnings update.

At the time of writing, the Bravura share price is up 13.17% to $2.32. By comparison, the S&P/ASX 300 Index (ASX: XKO) is currently sitting at 8,705 points, 0.1% higher.

The rally comes after a fairly ordinary start to the year. Bravura shares remain down around 20% in 2026, although they are still 8% higher than this time last year.

Here’s what the company is now forecasting.

Bravura lifts its earnings outlook

According to the release, Bravura now expects FY26 cash EBITDA of approximately $77 million.

This is above its previous guidance range of $69 million to $73 million and has given the market something positive to work with.

Revenue guidance has been left unchanged at $280 million to $285 million, while capital expenditure is still expected to be roughly $4 million.

Bravura put the better result down to steady demand for project work and tighter control over costs.

Management has used an average GBP/AUD exchange rate of 1.92 for the second half, compared with 1.95 in its previous guidance.

The full-year result is due on 12 August, when investors will get a closer look at how the business finished FY26.

Bravura’s recovery moves forward

The earnings upgrade comes after a fairly unsettled period at Bravura.

Former Chairman Matthew Quinn retired last year following tensions with L6 Holdings, which owns more than 20% of the company.

L6 is controlled by Damien Leonard, who runs Pinetree Capital and is the son of Constellation Software founder Mark Leonard.

Damien Leonard now sits on Bravura’s board as a Director.

Bravura has also spent the past few years reshaping the business after its shares fell heavily in 2022.

The company has spent the past few years cutting costs, reducing headcount, and simplifying the business. It has also placed more focus on its core wealth management software operations to improve margins and cash flow.

Is the worst behind Bravura?

The 13% jump suggests investors are warming to the progress Bravura is making.

The company is producing stronger earnings, while lower costs are helping lift margins and supporting profitability.

The share price is still well below where it traded before the 2022 collapse, so I think there is room for a further recovery if the company keeps improving.

The August result will give investors a better idea of whether Bravura can carry this momentum into the new financial year.

The post Why this ASX software stock is rocketing 13% today appeared first on The Motley Fool Australia.

More reading

• How to give your kids a superannuation kickstart, with help from the government
• This ASX silver mine developer could more than triple in value: Broker
• Could this ASX copper share really rise 400%?
• Mesoblast shares: Q4 earnings top projections
• Australia may sign a nuclear deal with India this week. What does that mean for Boss Energy shares?

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 positions in and has recommended Bravura Solutions and Constellation Software. 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.