Author: openjargon

Megaport Ltd (ASX: MP1) shares have been out of favour since the company reported record first-half results last week, but the analyst team at Macquarie think they’ve been seriously oversold.

The Macquarie team has had a look at the results, updated their modelling for Megaport shares, and come up with a very bullish outlook.

More on that later. Let’s see what they reported last week.

Recurring revenues looking strong

The “network as a service” company said in its ASX earnings report that annual recurring revenue increased 49% year on year to $338 million, while revenue for the half rose 26% to $134.9 million.

The company’s EBITDA was $35.3 million, and it reported an underlying net loss of $3.3 million, excluding acquisition costs $15.8 million.

 Megaport chief executive Michael Reid said regarding the result:

Our team delivered an outstanding first half performance, demonstrating the strength and resilience of the underlying business. Importantly, we achieved this while completing two strategic acquisitions and executing a successful capital raise. These initiatives extend our platform into adjacent markets and position Megaport for accelerated growth across Network, Compute, and AI.

Mr Reid said the company’s global business continued to grow, “with the United States delivering exceptional momentum, pushing the Americas to 24% year on year annual recurring revenue growth”.

He added:

This performance was driven by rising net revenue retention and consistent new logo acquisition. We are also seeing strong adoption of our newer products, alongside a clear shift toward larger bandwidth commitments, more complex global routes, and longer-term contracts. Together, these trends demonstrate expanding wallet share and Megaport’s growing strategic importance within our customers’ infrastructure stack. Despite Foreign Exchange headwinds, the fundamentals of the business remain strong, positioning Megaport to deliver scale-able, capital-efficient growth across Network, Compute, and AI.

Megaport said it “increased all metrics across all regions” in the first half.

Shares ‘too cheap’

Macquarie said the result was pretty strong across the board, with foreign exchange the only downside.

The team added that artificial intelligence was a positive for the company, noting that large language models were using Megaport’s application programming interfaces.

Macquarie said in its research note to clients this week that with a strong set of results and North American annual recurring revenue growing at 24%, the shares were “too cheap”.

Macquarie has a price target of $23.30 on Megaport shares, compared with the current price of $7.55, down 5.1% on the day.

Megaport was valued at $1.41 billion at the close of trade on Monday.

The post Macquarie reckons this ASX tech stock will just about triple 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 and Megaport. The Motley Fool Australia has positions in and 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.

When high-quality companies trade at 52-week lows, I think it is worth paying attention.

Not because the share price has fallen, but because it forces an important question: has the business deteriorated, or has sentiment simply turned?

Right now, three ASX 200 shares stand out after hitting new lows. But, in my view, each remains a high-quality business despite recent share price weakness.

Pro Medicus Ltd (ASX: PME)

Pro Medicus has long been one of the ASX’s standout growth stories. It has consistently delivered high margins, strong recurring revenue, and a capital-light model that generates impressive returns on equity.

Some investors appear worried that rapid advances in AI could commoditise parts of the medical imaging workflow or reduce the value of premium imaging platforms. When markets get nervous about disruption, high-multiple software names are often the first to be sold.

However, I think it is important to understand what Pro Medicus actually does. Its Visage platform is deeply embedded within hospital systems, handling complex imaging workflows at scale. It is not simply an image viewer. It is a mission-critical, enterprise-grade platform that integrates with hospital IT systems and supports radiologists across large networks.

Management has indicated that it doesn’t see AI as a threat to its business model. In fact, it views AI as complementary.

To me, this looks less like structural disruption and more like sentiment-driven volatility. While valuation always matters, I believe the market may be overestimating the AI risk and underestimating the durability of Pro Medicus’ competitive position.

Cochlear Ltd (ASX: COH)

Cochlear, another global healthcare leader, has also found itself under pressure.

Short-term challenges, including margin pressure and operational factors, have weighed on sentiment. But the underlying business remains dominant in implantable hearing solutions, with a large installed base and recurring revenue from upgrades and services.

I think it is easy to underestimate how powerful that installed base is. Once a patient is in the Cochlear ecosystem, they are typically there for life. That creates long-term revenue visibility.

When a market leader with decades of innovation trades at a 52-week low, I am inclined to look at the long-term opportunity rather than the most recent headline.

CAR Group Ltd (ASX: CAR)

CAR Group, formerly known as Carsales, operates leading automotive classifieds platforms in Australia and internationally.

The business benefits from network effects. Buyers go where the listings are, and sellers go where the buyers are. That creates a durable competitive advantage.

Share price weakness has reflected softer auto markets and broader tech sentiment. But the long-term shift to digital marketplaces is not reversing. Over time, transaction volumes and pricing power tend to follow platform scale.

If I can buy a market-leading digital classifieds platform at a 52-week low, I see that as an opportunity to accumulate quality.

Foolish Takeaway

A 52-week low does not automatically mean a bargain. Sometimes it signals deeper problems.

But in the case of Pro Medicus, Cochlear, and CAR Group, I believe the core businesses remain strong. Each has global reach, defensible market positions, and structural growth drivers.

The post Here are 3 ASX 200 shares trading at 52-week lows I’d buy appeared first on The Motley Fool Australia.

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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 positions in and has recommended Cochlear. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Pro Medicus. The Motley Fool Australia has recommended CAR Group Ltd, Cochlear, and Pro Medicus. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

ASX mining shares are higher on Tuesday, with the S&P/ASX 300 Metal & Mining Index (ASX: XMM) up 0.82%.

So far this year, ASX mining shares have continued to outperform after an exceptionally strong run in 2025.

The Metal & Mining Index is up 13.9% in the year to date (YTD) while the broader S&P/ASX 300 Index (ASX: XKO) is up 2.7%.

Here are three ASX mining shares that the experts think will rise strongly over the next 12 months.

WA1 Resources Ltd (ASX: WA1)

This ASX copper mining share is $16.73 apiece, up 2.3% today.

WA1 Resources shares are down 12.9% in the YTD and up 25% over the past 12 months.

Copper is in high demand for all the new infrastructure required for the green energy transition and artificial intelligence (AI) revolution.

It’s also attractive to investors seeking hard assets in today’s growing debasement trade.

The copper price hit a new record above US$6 per pound earlier this year, and is currently up 24.5% over the past 12 months.

Canaccord Genuity has a buy rating on WA1 Resources shares.

The broker lifted its 12-month share price target from $28 to $32 apiece this month.

This implies a 91% potential upside over the next 12 months on the ASX copper mining share.

Check out Goldman Sachs’ 2026 forecast for the copper price here.

Santana Minerals Ltd (ASX: SMI)

The Santana Minerals share price is 90 cents, down 4.3% today and up 58% over the past 12 months.

Santana Minerals is developing the Bendigo-Ophir Gold Project (BOGP) on the South Island of New Zealand.

Shaw & Partners has a buy rating and a 12-month share price target of $2.15 on this ASX gold mining share.

This suggests a possible near-140% capital gain over the next year.

In a recent note, the broker said:

Santana Minerals Limited (ASX:SMI) has announced that the Fast-Track Approval (FTA) Panel Convener has confirmed a 140 working-day statutory timeframe for determination of the Bendigo-Ophir Gold Project (BOGP), with a decision due by 29 October 2026.

The timeline is longer than expected (60-100 days) but now provides certainty in the process.

Development consent is now expected to be granted in H2 CY26. 

Santana Minerals announced the completion of a $113 million institutional capital raise today.

The funds will be used to accelerate the mine’s development in preparation for a Final Investment Decision (FID).

The miner will seek to raise up to another $30 million from ordinary investors via a Share Purchase Plan.

Check out some 2026 gold price forecasts here.

Catalyst Metals Ltd (ASX: CYL)

This ASX gold mining share is $8.13 apiece, down 1.8% today.

Catalyst Metals shares are up 10.2% in the YTD and up 108% over the past 12 months.

Catalyst Metals owns the Plutonic gold mine in Western Australia and the Bendigo exploration project in Victoria.

In its 2Q FY26 update, Catalyst Metals announced record quarterly gold production of 28,176 ounces at Plutonic.

The average realised price was A$2,776 per ounce, and the average all-in sustaining cost (AISC) was A$2,565 per ounce.

Bell Potter has a buy rating on the ASX gold mining share and a price target of $14.60.

This implies an 80% potential upside over the next 12 months.

The post 3 ASX mining shares tipped to rise 80% to 140% this year appeared first on The Motley Fool Australia.

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Motley Fool contributor Bronwyn Allen 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 Goldman Sachs Group. 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.

AGL Energy Ltd (ASX: AGL) shares are trading in the red on Tuesday afternoon. At the time of writing, they are down 2.28% to $10.08 a piece.

AGL shares look to have taken a turn today after two weeks of solid gains. Despite cooling off this week, the share price is still 13.9% higher than before its most recent results announcement.

What did investors like about AGL Energy’s post results?

On the 11th of February, AGL reported flat underlying EBITDA and a 6% decline in underlying net profit after tax. 

Investors were most excited by the company’s revised FY26 guidance figures which revealed it now expects full-year underlying EBITDA of $2.02 billion to $2.18 billion. Previously, the range was $1.92 billion to $2.22 billion.

Its underlying net profit guidance was also tightened to $580 million to $680 million, from a much wider range of $500 million to $700 million.

Despite its profit decline during the first half, the AGL board elected to increase its interim dividend. The company declared a fully franked interim dividend of 24 cents per share, which is up 4.3% from 23 cents per share a year earlier, to be paid on the 26th of March 2026.

Clearly investors were thrilled, but now the question is, what’s next?

Analysts confirmed their ratings on AGL shares

Following the company’s results announcement, Citi confirmed its buy rating on the ASX All Ords utilities share with a price target of $11.80. 

RBC Capital also has a buy recommendation with a target of $11.50.

The team at UBS also rates the energy retailer and generator as a buy, with a price target of $11.00. The broker said it thinks AGL is in a strong position to grow its underlying EBITDA year-over-year to 2030 so long as generation availability is maintained. It also said that its recent results show that AGL’s battery portfolio is performing ahead of expectations.

Plenty of upside left for AGL Energy shares

The brokers above aren’t the only ones bullish on the energy company’s stock. TradingView data shows that out of 10 analysts, nine have a buy or strong buy rating on AGL Energy shares.

The average target price of $11.50, which is in line with RBC Capital’s expectations, implies a 14.28% upside from the share price at the time of writing.

But some expect the share price could jump even higher to $13.25 a piece. That implies a huge 31.75% potential upside ahead for AGL investors. 

The post AGL Energy shares soar 14%: Is there any upside left? appeared first on The Motley Fool Australia.

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Citigroup is an advertising partner of Motley Fool Money. Motley Fool contributor Samantha Menzies 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.

Cedar Woods Properties Ltd (ASX: CWP) shares are surging higher on Tuesday.

At one stage today, the ASX All Ords stock was rocketing as much as 12% to $8.90.

The property development company’s shares have pulled back since then but remain up 5% at the time of writing.

Why is this ASX All Ords stock rocketing?

Investors have been buying the company’s shares following the release of its half-year results, which revealed record numbers.

According to the release, revenue for the half rose 40% to $274.8 million. Management advised that its portfolio performed strongly in the first half, particularly in the second quarter, with growth in sales volumes achieved in all states.

The ASX All Ords stock achieved record sales volume of 859 gross sales during the first half, up 18% on the 732 recorded in the prior corresponding period.

In addition, its gross margin improved to 31%, up from 26% a year earlier. This underpinned a 163% increase in net profit after tax to $39.6 million.

As a result, Cedar Woods declared a fully franked interim dividend of 14 cents per share, up 40% on last year’s interim dividend of 10 cents per share.

What did management say?

The ASX All Ords stock’s managing director, Nathan Blackburne, was rightfully pleased with the half. He said:

This exceptional first half result helps set the Company up for a record full year profit result. We are upgrading guidance to 30% to 35% NPAT growth, a result that will deliver very strong shareholder return metrics. The upgrade has been made possible by strong sales conditions which has enabled additional price growth, further settlements and significantly lower marketing spend.

The Company’s second half settlements are significantly derisked by presales. Following consistently strong demand for Cedar Woods’ diversified products, the Company as at 31 December has amassed $748m in presales, up from $642m in the prior corresponding period.

Outlook

As mentioned above, presales climbed to $748 million by the end of December. This is up 16% on the prior period, providing strong earnings visibility into the second half and beyond.

So much so, management has upgraded its full-year guidance. The company now expects FY 2026 net profit after tax growth of 30% to 35%. This is up from previous guidance of a minimum of 20% growth.

It also advised that further profit growth is anticipated in FY 2027.

The post This ASX All Ords stock is rocketing after posting 163% profit growth appeared first on The Motley Fool Australia.

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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.

Clinical trial company Cogstate Ltd (ASX: CGS) reported its half-year results last week, and it’s making at least one broker sit up and notice.

The team at Canaccord Genuity has had a look at the result and likes what they see, reiterating a bullish share price target for the company’s shares.

So let’s have a look at what was reported.

Solid profit growth

Cogstate reported group revenue of $26.9 million, up 12% on the previous corresponding period, while net profit was up 16% to $4.5 million.

The company also said it executed clinical trials and sales contracts worth $4.17 million, up 105%, with contracted future revenue increasing to $104.9 million.

Cogstate said regarding the result:

Cogstate continues to demonstrate strong growth with compelling evidence of maturing operational leverage. The business is increasingly well positioned to win market share with CNS (central nervous system) drug commercialisation expected to be among the fastest growing areas of pharmaceutical research and development spending, second only to oncology.  

Gostate chief executive officer Brad O’Connor said the company had good momentum and an increasingly strong competitive position.

He added:

We’re seeing record levels of sales opportunities from an expanded customer base across more therapeutic indications, and those opportunities are converting into meaningful contract wins. The quality of our sales performance is as important as the quantum. With 45% of our 1H26 contracts coming from mood, sleep and neurological conditions beyond Alzheimer’s disease, we’re demonstrating the diversification and repeatability that creates long-term value. Our investments in channel partnerships, scientific expertise across new indications, and our proven track record of delivering successful large-scale trials are all translating into tangible commercial results.

Shares looking cheap

The team at Canaccord Genuity ran the ruler over the results, and they like what they see.

They have maintained their buy recommendation on the shares, with a price target of $3.15.

They said in a note to clients sent out this week:

The company’s interim result likely doesn’t elucidate the growing moat in Cogstate’s business, and how that could emerge over the coming years in its profit and loss. The type of business being secured by Cogstate is more diversified (expansion outside of Alzheimer’s Disease), and increasingly more predictable. This allows investors (and us) to frame Cogstate based on its core business, and recognize the large, and somewhat irregular, Phase III Alzheimer’s’ Disease trials as additional (big) sugar hits on top of a quality underlying business.

Cogstate was valued at $373.9 million at the close of trade on Monday.

The post This clinical trial company is a buy following its first half results, one broker says 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 Cogstate. The Motley Fool Australia has positions in and has recommended Cogstate. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Kelsian Group Ltd (ASX: KLS) shares have raced 9% higher during Tuesday afternoon trading to $4.22.

Investors were impressed with the strong first-half FY26 results that Kelsian released in the morning.

Kelsian delivered solid revenue growth and a sharp lift in profit. The transport business also announced the $161 million sale of its tourism portfolio to Journey Beyond.

Global transport operator

Kelsian calls itself a leading global transport operator.  The company runs bus, motorcoach, and marine services under long-term contracts with governments and private clients, delivering essential passenger transport every day.

All up, Kelsian runs more than 5,800 buses, 124 vessels, and 24 light rail vehicles across Australia, the UK, Singapore, the US, and the Channel Islands. In the past year, it powered 384 million passenger journeys.

Quality earnings story

For the 6 months to 31 December 2025, Kelsian saw its revenue rise by 10.6% to $1.186 billion. The statutory net profit after tax surged 61.6% to $32.4 million.

Underlying EBITDA climbed 16.4% to $153.8 million, and underlying EBIT jumped 26.5%, pointing to improving margins and tighter operational execution across the group.

This wasn’t just a revenue story — it was a quality-of-earnings story. Kelsian shares generated stronger operating cash flow, strengthened its balance sheet, and kept leverage under control.

Kelsian Group CEO, Graeme Legh, was pleased that all three divisions contributed to the growth:

The result was driven by significant growth across key employee shuttle contracts in the USA, the ongoing contribution of the Bankstown Rail Replacement bus services in Sydney and strong trading from across the Marine & Tourism portfolio.

Sale Sealink and Captain Cook Cruises

In a strategic move, Kelsian announced the $161 million sale of its tourism portfolio to Journey Beyond.

The sale marks a clear step away from discretionary tourism and back toward Kelsian’s core strength, contracted passenger transport. It will free up capital, reduce complexity, and double down on the more predictable, contracted side of the business.

Under the deal, Journey Beyond will acquire 100% of the shares in Sealink Fraser Island, Captain Cook Cruises, plus the assets of Adelaide Sightseeing, amongst others.

The transaction still needs the tick of approval from the Australian Competition and Consumer Commission and the Foreign Investment Review Board. If Kelsian clears those hurdles, it expects completion in the first half of FY27.

What next for Kelsian shares?

Encouragingly, management upgraded full-year EBITDA guidance, signalling confidence in second-half momentum.

Kelsian also rewarded shareholders with a dependable income, a fully-franked interim dividend of 8 cents per share. Kelsian will pay it on 20 April.

CMC Markets projections expect Kelsian shares to deliver a grossed-up dividend yield of 6.2% in FY26 and 6.9% in FY27, including franking credits.

The post Kelsian shares up 9% after sharp lift in profit and $161m sale appeared first on The Motley Fool Australia.

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Motley Fool contributor Marc Van Dinther 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.

Westpac Banking Corp (ASX: WBC) shares are marching higher today.

Shares in the S&P/ASX 200 Index (ASX: XJO) bank stock closed yesterday trading for $42.04. In early afternoon trade on Tuesday, shares are changing hands for $42.30 apiece, up 0.5%.

For some context, the ASX 200 is down 0.2% at this same time.

Today’s outperformance is par for the course for the big four bank over the past year. With today’s intraday moves factored in, Westpac shares now up 35.2% in 12 months, racing ahead of the 8.4% one-year gains posted by the benchmark index.

And that’s not including the two fully franked Westpac dividends, totalling $1.53 a share, the big bank paid out over the full year. Westpac trades on a fully franked trailing dividend yield of 3.6%.

ASX 200 bank stock gets an earnings results boost

Westpac shares have gained 3.2% since market close on 12 February, while the ASX 200 has slumped 0.4% in this time.

That date is important, as the bank reported its first quarter earnings results on 13 February.

Highlights included net operating income of $5.81 billion, up 1% on the second half of 2025 average.

Westpac reported a 0.03% reduction in its net interest margin (NIM) for the three months to 1.94%. The bank said this reflected pressure from competition and the lower interest rate environment during the quarter.

On the bottom line, the ASX 200 bank stock achieved a 5% increase (compared to the second half of 2025 average) in unaudited statutory net profit to $1.9 billion.

“We are optimistic on the outlook for the economy and expect demand for both business and household credit to remain resilient,” Westpac CEO Anthony Miller said on the day.

Which brings us back to our headline question…

Should you buy Westpac shares following the strong Q1 results?

Catapult Wealth’s Dylan Evans recently ran his slide rule over the ASX 200 bank stock (courtesy of The Bull).

“The bank’s first quarter update in fiscal year 2026 was positive, with profit growth of 6%, excluding notable items, tracking ahead of consensus,” Evans said. “The bank’s cost cutting program has the potential to boost earnings. “

As for the balance sheet, Evans added, “Upside potential is backed by one of the best balance sheets in the sector, and a strong retail banking franchise.”

But amid valuation concerns, Evans isn’t ready to pull the buy trigger yet, with a hold recommendation on Westpac shares.

He concluded:

Despite the positives, Westpac and the broader banking sector remain relatively expensive given modest growth expectations, so it’s difficult to make a case for an overweight allocation.

Westpac trades on a price to earnings (P/E) ratio of around 20 times.

The post Are Westpac shares a buy after the bank’s positive earnings results? appeared first on The Motley Fool Australia.

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Motley Fool contributor Bernd Struben 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.

Shares in Electro Optic Systems Holdings Ltd (ASX: EOS) are in the green despite heavy losses on Wall Street overnight.

At the time of writing, the counter-drone defence company’s shares are up 1.29% to $7.85.

That gain follows the release of the company’s full-year result on Monday. The EOS share price climbed as high as $8.79 during the session before finishing at $7.75, up 5.87% from Friday’s close of $7.32.

Despite recent price swings, the stock is still up around 500% over the past 12 months.

What did the latest numbers show?

For FY25, EOS reported revenue from continuing operations of $128.5 million, down 27% on the prior year. The decline was driven largely by lower activity in defence systems, where revenue fell to $115.8 million from $165.7 million.

Despite the lower revenue base, gross margin improved to 63%. Underlying EBITDA remained negative at $24.4 million, reflecting operating losses and ongoing investment. Statutory net profit after tax (NPAT) came in at $17.5 million, boosted by the sale of EM Solutions.

Importantly, the balance sheet strengthened. All borrowings were repaid during the year, and cash at bank stood at $106.9 million at 31 December 2025. The company has also secured a new $100 million term loan facility.

Order book drives the growth narrative

The standout figure in the results was the order book. EOS ended the year with an unconditional order book of $459 million, up from $136 million a year earlier.

During FY25, the company signed $424 million worth of contracts, compared with just $70 million in FY24. Key wins included major remote weapon system (RWS) contracts and high energy laser (HELW) awards.

Management said it aims to realise 40% to 50% of the current order book in 2026. If delivered, that would imply a material step up in revenue over the next year.

The company also announced the acquisition of MARSS, a Europe-based counter-drone C2 provider, in January. The deal expands EOS’s capabilities and could support further order book growth, though integration will need to be managed carefully.

What is one broker saying?

Bell Potter remains positive on EOS shares. The broker retained its ‘buy’ rating after the results but reduced its price target to $9.70 from $12.00.

Based on today’s price of $7.85, that suggests potential upside of roughly 25% over the next 12 months.

The broker acknowledged mixed earnings but highlighted the strong order intake, supportive defence spending backdrop and improving margin profile.

Foolish takeaway

EOS shares have already delivered exceptional gains over the past year.

The enlarged order book provides revenue visibility and supports expectations of growth in 2026. However, underlying profitability remains negative and the company must convert orders into cash flow.

If management can deliver on its guidance and margins hold up, there may still be room for further gains. But after a 500% run, expectations are higher and volatility is likely to continue.

The post Where to now for EOS shares after a 500% surge? 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 positions in and has recommended Electro Optic Systems. 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.

ASX gold shares are putting in a mixed performance as the gold price reverses course after a four-day run of gains.

Safe-haven trading inspired a four-day sprint after the US Supreme Court declared US President Donald Trump’s reciprocal tariffs illegal.

Trump has responded by slapping a 15% tariff on every nation for 150 days, which means a 50% increase for Australia.

The gold price lifted 2% overnight to close at US$5,209.55 per ounce.

However, the yellow metal has reversed course during intraday trading on Tuesday.

The gold price is currently US$5,183 per tonne, down 0.8%.

This has led to a 1.2% fall in the S&P/ASX All Ords Gold Index (ASX: XGD) today.

Analysts at Trading Economics said the gold price is falling as traders consider renewed tariff risks and persistent geopolitical uncertainty.

They said nations were reassessing their trade positions after the ruling, despite Trump’s threats of higher tariffs if they “play games”.

The analysts commented:

The EU halted the ratification process of its trade agreement, while India deferred talks with the US.

On the geopolitical front, attention remains on US-Iran nuclear talks, set to resume on Thursday.

Trump said he prefers a negotiated settlement but cautioned that serious consequences could follow if a deal is not reached.

5 ASX 200 gold shares reached record highs today

The day started on a high with five ASX 200 gold shares reaching new record highs, before retreating.

The Northern Star Resources Ltd (ASX: NST) share price rose 5.6% to a record $30.93 this morning.

The market’s largest ASX 200 gold share is now $29.33, up 0.1%.

The Evolution Mining Ltd (ASX: EVN) share price rose 5.2% to a new record high of $16.39 in earlier trading.

Now, Evolution shares are $15.38, down 1.3%.

Ramelius Resources Ltd (ASX: RMS) shares lifted 5.7% to an all-time high of $5.16 before reversing course.

The ASX 200 gold share is now $4.81 apiece, down 1.5%.

Westgold Resources Ltd (ASX: WGX) shares rose 4.8% to a record $7.93 apiece this morning.

Now, Westgold Resources shares are $7.68, up 1.4%.

The Regis Resources Ltd (ASX: RRL) share price reached a multi-decade high of $9.22, up 3.6%, in earlier trading.

The ASX 200 gold share is now $8.80, down 1.2%.

What’s next for the gold price?

Shaw & Partners predicts that the gold price will increase to US$6,000 per ounce in CY26.

The broker is tipping a further rise to US$6,500 per ounce in CY27 and US$7,000 per ounce in CY28. 

Bank of America is forecasting gold to reach US$6,000 per ounce this year.

In a note to clients, BoA analyst Michael Hartnett said (courtesy Kitco News):

History no guide to future, but avg gold jump past 4 bull markets ≈ 300% in 43 months which would imply gold reaching $6,000 by spring.

Some analysts are even more optimistic.

René Hochreiter from NOAH Capital Markets and Sieberana Research anticipates a peak gold price of US$6,300 per ounce in CY26.

He comments:

Geopolitical events in 2026 are likely to continue unabated, putting upward pressure on the price.

World governments are building up their gold reserves in anticipation of de-dollarisation. 

Julia Du from ICBC Standard Bank says the gold price could crack US$7,000 per ounce this year.

I expect 2026 to be a year of heightened geopolitical risk and strong safe-haven demand, allowing gold to continue the volatile yet upward trend.

Central banks are likely to keep adding to reserves, institutional investors will increase portfolio allocations, and retail demand – especially in Latin America – should remain robust.

Combined with continued Fed rate cuts, these forces support a bullish bias.

Other experts are less ambitious with their forecasts.

Last month, Goldman Sachs raised its year-end forecast for 2026 to US$5,400 per ounce.

The broker said this prediction is based on two factors:

The first is continued purchases by central banks as they continue to diversify their reserves by buying bullion.

The second is investor allocations into gold thanks to the Federal Reserve rate cuts that Goldman Sachs Research expects to see this year.

Lina Thomas, senior commodities analyst at Goldman Sachs Research, expects volatility for the gold price but also sees a “significant upside” risk to the broker’s forecast.

James Steel from HSBC tips a peak price of US$5,050 per ounce.

Steel says:

The “fear of missing out” has attracted a new coterie of buyers which is injecting added volatility into the market.

Heavy buying by institutional investors including momentum purchases may continue.

Long positions on the CME are high but subject to liquidation. Trading may be characterised by wide ranges this year.

The post Gold price reverses course after 4-day run appeared first on The Motley Fool Australia.

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• Buy, hold, or sell? 3 ASX 200 shares at record highs
• Why are ASX 200 gold stocks like Evolution Mining and Northern Star shares going gangbusters on Tuesday?
• 5 things to watch on the ASX 200 on Tuesday

Bank of America is an advertising partner of Motley Fool Money. HSBC Holdings is an advertising partner of Motley Fool Money. Motley Fool contributor Bronwyn Allen 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 Goldman Sachs Group. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended HSBC Holdings. 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.