WAM Active Ltd (ASX: WAA) has had a stellar year and is rewarding its shareholders with a special dividend, pushing its total shareholder return for the year past 40%.

Fund outperforms its benchmarks by a healthy margin

The fund said in a statement to the ASX that its investment portfolio increased by a record 75.5% in the year to the end of June, outperforming the Bloomberg AusBond Bank Bill Index (Cash) and the S&P/ASX All Ordinaries Accumulation Index by 71.6% and 69.8%, respectively.

Chairman Geoff Wilson said regarding the result:

FY2026 is the strongest year in WAM Active’s history since the Company was established in January 2008. This record result reflects the strength of WAM Active’s disciplined and flexible investment strategy, outstanding stock selection and active portfolio management. We remained focused on delivering strong long term returns and a growing stream of fully franked dividends for shareholders.

The WAM board has declared a fully-franked final dividend of 3.2 cents per share and a special dividend of 2 cents per share.

The fund added:

Including the special fully franked dividend of 1.0 cents per share announced in January 2026, shareholders will receive total fully franked dividends for FY2026 of 9.4 cents per share. The investment portfolio performance, together with the fully franked dividends paid during the year, delivered a record total shareholder return of 40.2% for the year to 30 June 2026.

WAM said the total dividends for FY26 represented a fully-franked dividend yield of 8.6% and a grossed-up dividend yield of 12.3%.

Fund leans into key themes

The fund’s lead portfolio manager, Oscar Oberg, said the fund’s outperformance was driven by exposure to four key themes: critical minerals, electrification and grid infrastructure, precious metals, and artificial intelligence (AI).

He added:

Equity markets over the 2026 financial year were characterised by elevated volatility, rapid shifts in macroeconomic expectations and pronounced rotation across sectors and themes. Changes to interest rate outlooks, geopolitical developments and the accelerating AI adoption contributed to periods where company fundamentals were often overshadowed by broader market positioning. These conditions created dislocations across parts of the market, particularly in smaller and less well-covered companies, providing opportunities for the investment team to identify mispriced securities using WAM Active’s market-driven approach.

Dividends are still on the table

The ex-dividend dates for the fund’s ordinary dividend and special dividend are 17 November and 4 December, respectively.

WAM shares are changing hands for $1.12, up 36.2% over a 12-month period.

The post This fund’s 75% return smashed its benchmark, and it’s celebrating with a special dividend appeared first on The Motley Fool Australia.

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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.

Fortescue Ltd (ASX: FMG) has been in the news for all the wrong reasons recently, with a class action launched against the company and a $150 million judgment against it for cultural damage at sites in Western Australia’s Pilbara region.

Fortescue’s mining operations ticking along

On the operational front, however, the company is delivering solid results and is also looking to invest US$680 million in new green energy infrastructure to support its mining operations, as well as potentially data centres.

Macquarie has recently run the ruler over the company and has reaffirmed its outperform rating on the company’s shares with a positive share price target, which we’ll get to shortly.

Firstly, let’s have a closer look at the company’s most recent production report.

The company in April said it had shipped 48.4 million tonnes of iron ore in the third quarter, bringing the total amount shipped over nine months to 148.7 million tonnes, up 4% over the same period the previous year.

Fortescue Metals and Operations Chief Executive Officer Dino Otranto said at the time:

We delivered a solid quarter, contributing to record shipments of 148.7 million tonnes for the nine months to March. That reflects a significant effort from the team right across the business. At the same time, we’re getting on with decarbonising our operations and we’re already seeing the benefits. Given volatility in global energy markets, there’s never been a clearer reason why this matters. For us, it’s about strengthening energy security, lowering costs and eliminating emissions. The build-out of our green grid is well underway, with 630MW of solar and 133MW of wind generation under construction. As we bring this online, we’re fundamentally reshaping how we power our operations by cutting our reliance on fossil fuels, at a time when energy supply is increasingly uncertain.    

Meanwhile, the class action brought against the company relates to allegations including sexual harassment and sex discrimination.

Fortescue shares still looking like good value

Macquarie said it was expecting Fortescue to ship 53 million tonnes in the fourth quarter, and is also expecting the company to release an optimisation study in the next few months.

Macquarie said:

We expect an in line result at the quarterly, with FY27 guidance the key item of focus; we could see the first signs of the Hematite over magnetite strategy come through in volume guidance, with the outcomes of the portfolio optimisation study potentially occurring later in the year.

Macquarie has a 12-month price target of $21 on Fortescue shares, compared to $18.47 currently.

Including the company’s 6.5% dividend yield, this would equate to a total shareholder return of 17%.

Morgan Stanley has a dissenting view on Fortescue shares, with a sell rating and a price target of $17.25 on the company.

The post How high does Macquarie think Fortescue shares will go? appeared first on The Motley Fool Australia.

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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 positions in and has recommended Macquarie Group. The Motley Fool Australia has recommended Macquarie Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

It has been a rough few months for Dateline Resources Ltd (ASX: DTR) shareholders.

But the ASX mining stock is surging on Monday after receiving some welcome support from the US Government.

At the time of writing, the Dateline Resources share price is up 33.33% to 18 cents.

Despite today’s huge gain, the stock remains down around 20% in 2026. However, Dateline shares are now up roughly 98% since this time last year.

Let’s take a closer look at the latest announcement.

US Government backs Dateline’s position

The support comes from the US Department of Justice (DOJ), which has filed documents opposing a legal challenge surrounding Colosseum.

The Colosseum project is Dateline’s 100%-owned gold and rare earths project in California, which includes a historic open-pit mine.

The case was brought by the National Parks Conservation Association, which is challenging an April 2025 letter recognising Dateline’s existing rights at the project.

According to Dateline, the DOJ believes the current mine plan remains valid and still allows work to take place at Colosseum.

The DOJ also argues the National Park Service letter didn’t grant a new approval. Instead, it says the letter just confirmed the legal position of the existing mine plan.

Dateline said the filing supports the position it has taken throughout the case.

What is the legal dispute about?

The National Parks Conservation Association wants the court to overturn the National Park Service’s April 2025 decision without recognising the company’s mining rights.

However, the DOJ believes the group is unlikely to succeed because the letter did not amount to a final government decision that could be challenged in court.

The department also says laws introduced in 1994 protected the project’s existing rights, including its approved mine plan. A long break in mining doesn’t automatically cancel those rights.

The US Government has also pushed back against claims of immediate environmental damage.

It noted the area has already been disturbed by previous mining, while access to the nearby Clark Mountains remains available by another route.

The DOJ also said concerns about future noise, dust and vegetation removal relate to work that may not even happen.

Foolish takeaway

The DOJ filing is welcome news for Dateline and gives the company more support in the legal dispute over Colosseum.

It backs Dateline’s view that the existing mine plan remains valid and no new federal approval is required. However, the court still has the final say.

Colosseum is a major part of the company’s future. Its bankable feasibility study (BFS) outlined a 10.4-year mine and estimated a pre-tax value of US$785 million.

The study also produced an internal rate of return (IRR) of 49.5%, which is a measure of the project’s expected profitability.

Building the mine is expected to cost US$249 million, plus a US$25 million contingency.

The post Why this ASX mining stock is rocketing 33% after a US Government boost appeared first on The Motley Fool Australia.

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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.