Category: Stock Market

Symal Group Ltd (ASX: SYL) shares are charging higher on Wednesday after the construction group announced its largest acquisition so far.

At the time of writing, the Symal share price is up 10.37% to $2.98.

The ASX industrial stock remains down 14% since the start of 2026. However, it has still climbed 74% over the past 12 months.

Today’s gain followed Symal’s agreement to acquire Queensland-based Shamrock Civil, which will give the company more exposure to work across Australia.

Let’s take a closer look at the deal.

Symal buys Shamrock Civil

According to the release, Symal will acquire 100% of Shamrock Civil under a conditional agreement with a $51 million upfront payment.

This includes $40.8 million in cash and $10.2 million worth of newly issued Symal shares.

The sellers may also receive performance-based earn-outs covering FY26 and FY27. These payments are capped at $28.4 million, taking the possible total price to $79.4 million.

Shamrock is a founder-led civil contractor with more than 30 years of operating history and a workforce of over 200 people.

The business generated average annual revenue of more than $220 million over the past 3 years. Take note that more than $100 million of that came from defence work each year.

As a result, Symal expects Shamrock to deliver around $16 million of underlying EBITDA in FY26.

Management also believes the acquisition will increase Symal’s earnings per share (EPS) during its first full year of ownership.

Defence pipeline drives interest

The acquisition gives Symal a larger defence presence, with over 70% of Shamrock’s work-in-hand and tendered pipeline linked to the sector.

Shamrock is already an approved Department of Defence contractor and has completed projects across Queensland, the Northern Territory and South Australia.

Furthermore, the business has long-standing relationships in gas and resources, including work connected to QGC, Santos Ltd (ASX: STO) and Origin Energy Ltd (ASX: ORG).

Symal expects the acquisition to leave the company in a better position to compete for upcoming defence infrastructure work.

The announcement also pointed to around $900 million of civil packages linked to AUKUS, a $700 million upgrade at RAAF Base Townsville and a $1 billion facility at Hervey Range.

What comes next?

The deal still needs to meet several conditions, including approval from the Australian Competition and Consumer Commission (ACCC).

Symal plans to fund the cash portion through its existing banking facilities, while Shamrock’s founders will stay on and keep running the business.

Should everything go to plan, Symal will gain stronger revenue and more defence work on its books.

The post Guess which ASX stock is rocketing 10% today? appeared first on The Motley Fool Australia.

More reading

• 5 things to watch on the ASX 200 on Wednesday
• Oil retreats as Iran tensions ease. Here’s what that means for ASX energy shares
• 5 things to watch on the ASX 200 on Tuesday
• Why Aussie Broadband, Coles, EOS, and Santos shares are falling on Monday
• Buy, hold, sell: Domino’s, Super Retail, and Symal 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 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 S&P/ASX 200 Index (ASX: XJO) has gained 5% over the past 12 months, but these three ASX 200 mining stocks have left those gains far behind.

All three of the surging Aussie miners earn much (or all) of their revenue from lithium.

And their strong performance over the past year has been fuelled by an accompanying 140% increase in the lithium carbonate price.

So, which ASX 200 mining stocks would have at least tripled your money over the past year?

I’m glad you asked!

Three skyrocketing ASX 200 mining stocks

The first miner that’s made its investors very happy, and a lot wealthier, over the last year is Liontown Resources Ltd (ASX: LTR).

In early afternoon trade today, Liontown shares are up 4.4%, changing hands for $2.14 apiece. This puts the Liontown share price up an impressive 210.1% since this time last year.

Also shooting the lights out is Mineral Resources Ltd (ASX: MIN).

At time of writing, Mineral Resources shares are up 2.8% today, trading for $72.79 each. This sees the Mineral Resources share price up 207.4% in 12 months.

And leading the charge among the ASX 200 mining stocks is Pls Group Ltd (ASX: PLS), formerly Pilbara Minerals.

PLS shares are up 4.5% in intraday trading, swapping hands for $6.47 apiece.

One year ago, you could have bought PLS shares for just $1.35. At today’s price that would see you sitting on a gain of 379.3%.

That’s enough to turn a $5,000 investment into $23,963.

In one year!

Take that, benchmark index.

What’s been happening with the ASX lithium shares?

Atop the rising lithium price, the ASX 200 mining stocks have hardly been sitting idle.

At its half-year results, Liontown reported a 70% year-on-year increase in lithium production to 192,514 dry metric tonnes (dmt). Revenue for the six months to 31 December was up 107% to $207.5 million.

Mineral Resources also reported H1 FY 2026 growth. Supported by resurgent lithium demand and a strong performance from its Onslow Iron operations, the miner delivered its best half-year result on record.

Mineral Resources reported earnings before interest, taxes, depreciation and amortisation (EBITDA) of $1.2 billion for the half, with record revenue of $3.1 billion.

Not to be outdone, PLS reported a 47% year-on-year increase in first-half revenue to $624 million, spurred by higher sales volumes and higher realised prices.

PLS achieved a 241% increase in H1 underlying EBITDA to $253 million, with margins increasing to 41% from 17% in H1 FY 2025.

The post How these 3 ASX 200 mining stocks have more than tripled investors’ money in a year appeared first on The Motley Fool Australia.

More reading

• 6 ASX 200 shares with fresh buy ratings this week
• Why Karoon Energy, PLS, South32, and Transurban shares are falling today
• Up 200%: Can Mineral Resources shares keep rising?
• 5 things to watch on the ASX 200 on Tuesday
• Bell Potter just raised its price targets on these 2 ASX lithium stocks

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.

The S&P/ASX 200 Index (ASX: XJO) is on course to record a decent gain. In afternoon trade, the benchmark index is up 0.5% to 8,968 points.

Four ASX shares that are rising more than most today are listed below. Here’s why they are pushing higher:

AIC Mines Ltd (ASX: A1M)

The AIC Mines share price is up 8% to 74 cents. Investors have been buying this copper miner’s shares following the release of drilling results from the Jericho copper deposit in Northwest Queensland. Management advised that an eight-hole surface program of resource definition drilling at the Jolly shoot has returned high-grade copper, gold, and silver results. AIC Mines’ managing director, Aaron Colleran, said: “Jericho is proving to be a great orebody – exceeding all our expectations in terms of strike extent, continuity and now grade, particularly the gold grade. The December 2026 Quarter is set to be the most exciting Quarter in AIC Mines’ short history. I look forward to seeing this ore being fed into the new crusher.”

Electro Optic Systems Holdings Ltd (ASX: EOS)

The EOS share price is up 2% to $8.90. This morning, this defence and space company announced that its recently acquired MARSS business has been selected as the C2 provider for the BAE Systems (LSE: BA.) Anti Threat System (BATS). It is a next-generation, counter-drone (CUAS) capability. Management believes this underscores MARSS’ position as one of very few companies with the ability to deliver advanced, AI-powered C2 platforms that accelerate decision-making from minutes to seconds across detection, classification, and defeat.

Flight Centre Travel Group Ltd (ASX: FLT)

The Flight Centre share price is up 3% to $12.20. This travel agent’s shares are lifting off today after the announcement of a $200 million share buyback offset an earnings guidance downgrade driven by the Middle East conflict. Flight Centre’s managing director, Graham Turner, revealed that the board believes its shares are undervalued. He said: “Looking ahead, we have strong foundations and growth prospects in both the leisure and corporate sectors. This is reflected in the Board’s decision to launch a new up-to-$200m buy-back – which clearly signals that we see our shares as undervalued at current levels.”

Nickel Industries Ltd (ASX: NIC)

The Nickel Industries share price is up 3% to $1.01. This follows the release of an operational update from the nickel producer this morning. Management advised that adjusted EBITDA from operations in April and May was approximately US$80 million. It also notes that its RKEF operations unwound a substantial amount of working capital and expects to receive approximately US$70 million in distributions by early July.

The post Why AIC Mines, EOS, Flight Centre, and Nickel Industries shares are racing higher today appeared first on The Motley Fool Australia.

More reading

• EOS shares rocket 9% on BAE Systems deal
• What’s going on with Flight Centre shares today?
• Nickel Industries posts US$80m EBITDA and HPAL progress in operating update
• Flight Centre updates profit guidance; unveils $200m buy-back
• Why Aussie Broadband, Coles, EOS, and Santos shares are falling on Monday

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 positions in and has recommended Electro Optic Systems. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended BAE Systems. The Motley Fool Australia has recommended Flight Centre Travel Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) has recovered from a poor start and is pushing higher. At the time of writing, the benchmark index is up 0.5% to 8,962.9 points.

Four ASX shares that have failed to follow the market higher today are listed below. Here’s why they are falling:

Karoon Energy Ltd (ASX: KAR)

The Karoon Energy share price is down a further 11% to $1.46. This energy producer’s shares have been sold off this week following a disappointing update on the Who Dat joint venture. The operator of Who Dat, LLOG Exploration Company, has informed Karoon Energy that the reinstatement of production through the Who Dat E manifold will not occur in 2026 as planned. In light of this, calendar year 2026 total production guidance has been downgraded to the range of 7.2 MMboe to 8.2 MMboe. This compares to its previous guidance of 8.1 MMboe to 9.2 MMboe.

Novonix Ltd (ASX: NVX)

The Novonix share price is down 23% to 18.5 cents. This follows news that the battery materials technology company is undertaking another capital raising. Novonix has received firm commitments from institutional and sophisticated investors for a $20.7 million placement at 16 cents per new share, representing a 33.3% discount. The company’s managing director and CEO, Mike O’Kronley, said: “This capital raise positions the Company to continue investing in the production capacity required to support forecast customer demand. Expanding our capacity is an important step in executing our growth strategy and reinforcing our ability to supply high-quality material to strategic customers as demand continues to increase.” Novonix will now seek to raise $3 million from retail shareholders at the same price.

Transurban Group (ASX: TCL)

The Transurban share price is down 2% to $14.77. This appears to have been driven by a broker note out of Morgans this morning. According to the note, the broker has downgraded Transurban’s shares to a sell rating (from hold) with a reduced price target of $12.50 (from $13.19). It said: “We recommend clients use the share price strength to take profits in overweight positions. Downgrade from HOLD to SELL.”

Woodside Energy Group Ltd (ASX: WDS)

The Woodside Energy share price is down 3% to $29.13. Investors have been selling this energy giant’s shares today after oil prices pulled back further overnight. Traders were selling down oil in response to reports that Iran would be allowed to start selling its oil immediately.

The post Why Karoon Energy, Novonix, Transurban, and Woodside shares are sinking today appeared first on The Motley Fool Australia.

More reading

• Buy, hold, sell: Accent, Karoon Energy, and Transurban shares
• Why is this ASX stock crashing 20% today?
• Want to retire earlier? This mix of ASX shares and ETFs could help
• Why Karoon Energy, PLS, South32, and Transurban shares are falling today
• This ASX energy stock just crashed 11%. Here’s what went wrong

Motley Fool contributor James Mickleboro has positions in Woodside Energy Group Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Transurban Group. The Motley Fool Australia has positions in and has recommended Transurban Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Macquarie Group Ltd (ASX: MQG) isn’t the first name on many investors’ dividend lists when looking for the next income investment. But as a financial stock often nicknamed the ASX’s ‘fifth bank’, it is probably not at the bottom either.

The ASX banks are, of course, well known as some of the most generous and consistent payers of franked dividend income on our stock market.

Let’s see if Macquarie’s income chops make it worthy of this moniker.

Macquarie shares: Are the dividends worthy of an ASX bank stock?

Let’s start at the top. At the time of writing, Macquarie Group shares are trading at $248.97 each, down about 0.04% for the day thus far. Incidentally, this came after the company hit a new all-time record high of $250.78 earlier this morning.

At the current share price, Macquarie is trading on a trailing dividend yield of 2.81%. That’s based on the two most recent dividends Macquarie has paid out. The first of those was the December interim dividend, worth $2.80 per share. The second, the final dividend of $4.20 per share that is due for distribution next month on 2 July. We will count it because Macquarie shares have already traded ex-dividend for the payment.

That 12-month total of $7 per share that Macquarie is set to deliver works out to be worth that 2.81% yield at the current price.

Macquarie’s dividends almost never come fully franked, and these payments are no different. Both are partially franked at 35%.

Macquarie’s payouts do tend to fluctuate from year to year. To illustrate, Macquarie paid a total of $6.90 per share in dividends in 2025, $6.45 in 2024, $7.05 in 2023, $6.50 in 2022, and $6.07 in 2021.

In some potentially good news, analysts are pencilling in a total payout of $7.40 in 2027.

So Macquarie is arguably a reliable income payer, albeit slightly less than steady.

Foolish Takeaway

The reality is that Macquarie’s nature as a diversified financial stock, not just a bank, combined with its international operations, has arguably always made it less attractive as a pure-play income investment than the other ASX banks. Indeed, Macquarie’s trailing yield today is well below all four of the major ASX banks. Even Commonwealth Bank of Australia (ASX: CBA).

The fact that Macquarie is at an all-time high today isn’t helping matters either. The higher a share price goes, the lower its dividend yield gets.

Macquarie shares, at least in my view, are a great buy for investors looking for growth and a bit of income on the side. As a centrepiece of an income-focused portfolio? Not so much.

The post Buying Macquarie shares? Here’s the dividend yield you’ll get today appeared first on The Motley Fool Australia.

More reading

• Macquarie shares climb to fresh all-time high: Buy, sell or hold?
• Why I’d buy and hold Macquarie shares for 10 years
• How to build a $1 million ASX share portfolio from zero
• 5 ASX shares for a winning retirement portfolio
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Motley Fool contributor Sebastian Bowen 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.

Buying ASX shares and waiting for a Reserve Bank of Australia (RBA) interest rate cut?

You’re not alone!

As you’re likely aware, yesterday the RBA kept the official Aussie interest rate on hold at 4.35%. That’s right at its 2024 peak. And it matches the highest rate levels investors have had to contend with since 2011.

While that move was widely expected, ASX investors still breathed a noticeable sigh of relief, since the central bank has already hiked the cash rate three times this year to combat resurgent inflation.

Indeed, at 2:30pm AEST on Tuesday, directly before the RBA’s announcement, the S&P/ASX 200 Index (ASX: XJO) was down 0.3%.

Following the central bank’s decision to hold rates at the current level for now, the ASX 200 jumped back into the green to finish the day up a slender 0.04%.

But while the pause was welcomed, ASX investors and mortgage holders alike are really waiting for those first cuts.

When might we see RBA interest rate easing?

Rather than flagging lower interest rates, RBA governor Michele Bullock left the door open to potential rate hikes over the coming months.

“Today’s decision does not rule out further tightening in monetary policy if that is what is required to bring inflation down,” Bullock said following yesterday’s announcement.

But Barrenjoey chief rates strategist Andrew Lilley believes further rate increases are looking less likely.

“The market is increasing its confidence that the RBA is done raising rates,” Lilley said (quoted by The Australian Financial Review). “Because the RBA’s language was seen as very non-committal, the markets only sees a 50% chance of any more rate hikes at all this year.”

Josh Gilbert, lead analyst for APAC at eToro, added:

The RBA has finally hit pause in 2026 after three consecutive rate hikes since February. The signal is clear: the central bank is taking the time to step back and assess, rather than keep its foot to the floor…

My view is that the chance of further tightening looks unlikely right now. With three hikes already in the books and the Middle East conflict seemingly winding down, most of the heavy lifting may already be done.

Ebury economist, Anthony Malouf, echoed this sentiment.

“We continue to expect the RBA to keep the cash rate at 4.35% for the remainder of 2026 and into early 2027 as the board looks to balance the risks of weaker growth and elevated inflation,” Malouf said.

So when might we see the RBA cut interest rates?

ANZ Group Holdings Ltd (ASX: ANZ) head of Australian economics Adam Boyton expects that the RBA interest rate likely won’t top the current 4.35% in this cycle, with rate cuts potentially coming in the second half of 2027.

According to Boyton:

Looking further ahead, with broader signs of an economic slowdown and interest rates restrictive, rate cuts are likely to be the next sequence of rate moves. We have pencilled these in for the second half of 2027 – August and November – with the RBA likely to proceed down that path cautiously.

Commonwealth Bank of Australia (ASX: CBA) economists also expect the central bank to keep current cash rate settings into 2027.

CBA believes ASX investors might then see the first RBA interest rate cut in May 2027.

The post Buying ASX shares? Here’s when to expect the first RBA interest rate cuts appeared first on The Motley Fool Australia.

More reading

• Buying Macquarie shares? Here’s the dividend yield you’ll get today
• Buy, hold, sell: Accent, Karoon Energy, and Transurban shares
• Macquarie shares climb to fresh all-time high: Buy, sell or hold?
• BHP shares are at a record high, should I buy or sell?
• Why is this ASX stock crashing 20% today?

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.

The team at Morgans has been busy running the rule over a number of popular ASX shares this week.

Let’s see if the broker is bullish, bearish, or something in between on these names. Here’s what it is saying:

Accent Group Ltd (ASX: AX1)

Morgans remains positive on this struggling footwear retailer and notes that it received an opportunistic takeover offer this week.

In response, the broker has retained its buy rating on Accent shares with an improved price target of 85 cents. This compares to its current share price of 76 cents. It commented:

Frasers Group has made an unconditional on-market cash takeover offer for AX1 at $0.65 per share, which represents no premium to the closing share price. We see this offer as opportunistic, given the weakness in the share price over the last 12 months (down 64%), and see scope for Frasers to revise its bid higher. We have made no changes to our forecasts, but have increased our target price to $0.85 (from $0.75) applying a lower discretionary discount. We retain our BUY recommendation.

Karoon Energy Ltd (ASX: KAR)

This energy producer’s shares have been hammered this week following a disappointing update.

While the update was disappointing, Morgans has upgraded Karoon Energy’s shares to a hold rating with a $1.67 price target following the share price decline. This compares favourably to its current share price of $1.44. The broker said:

A good company in a difficult position, dealing with multiple operational issues, albeit enjoying a nice bump in earnings resulting from the Middle East conflict. Operator LLOG advised of ongoing operational issues leading to a 41% downgrade to Who Dat production in 2026, an 11% downgrade at group level. Down 20% in two sessions, KAR is trading close to our revised target price. As a result, we lift our Trim rating to HOLD with a A$1.67 target price.

Transurban Group (ASX: TCL)

Morgans was disappointed with this toll road operator’s recent traffic update, highlighting that traffic is below expectations.

It believes this leaves it positioned to fall short of consensus estimates. As a result, it has downgraded Transurban’s shares to a sell rating with a $12.50 price target. This is 15% lower than its current share price of $14.74. It commented:

TCL’s update indicated traffic is running below expectations. TCL also announced its exit from the Montreal market via divestment, crystallising an equity value loss. DCF-based 12-month target price reset to A$12.50/sh (-5% vs previously), with forecast downgrades (we are more bearish on EBITDA, Free Cash and DPS growth than consensus) partly offset by discount rate adjustments.

TCL’s recent share price strength (+9% since its February result and not far off all-time highs) is not reflective of the weaker traffic growth and higher interest rate environment that typically challenges TCL’s valuation. We recommend clients use the share price strength to take profits in overweight positions. Downgrade from HOLD to SELL.

The post Buy, hold, sell: Accent, Karoon Energy, and Transurban shares appeared first on The Motley Fool Australia.

More reading

• Want to retire earlier? This mix of ASX shares and ETFs could help
• Why Karoon Energy, PLS, South32, and Transurban shares are falling today
• This ASX energy stock just crashed 11%. Here’s what went wrong
• Why Accent, IperionX, Northern Star, and Sigma Healthcare shares are racing higher on Monday
• Guess which ASX stock is jumping on takeover offer

Motley Fool contributor James Mickleboro has positions in Accent Group. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Transurban Group. The Motley Fool Australia has positions in and has recommended Transurban Group. The Motley Fool Australia has recommended Accent Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Macquarie Group Ltd (ASX: MQG) shares have climbed higher into the green on Wednesday. At the time of writing, the shares are up around 0.2% higher and changing hands at $249.60.

At one point this morning, the share price reached an all-time record high of $250.54 a piece.

Macquaire’s shares are now around 23% higher for the year to date and 18% higher than this time last year.

Like many of the ASX bank stocks, Macquarie shares slumped through late February and March. But thanks to a strong recovery in early April, it is now the best-performing ASX 200 bank stock by far, and its share price is smashing previous record highs.

Are Macquarie shares a buy, sell, or hold after the latest rally?

Market Index data shows that brokers are mostly bullish on the bank stock’s outlook. The majority have a buy rating on the shares, but the $253.75 average target price now implies a small 2% potential upside. 

TradingView shows that some analysts are even more bullish. Again, the majority (nine out of 15) have a buy or strong buy rating on the shares. The average target price of $256.69 implies a potential 3% upside at the time of writing. But the maximum $290.17 target price implies the shares could jump another 16% over the next 12 months.

Morgan Stanley is one of the more bullish brokers. It has a buy rating and a $263 price target on Macquarie shares.

Why are Macquarie shares going from strength to strength?

Macquarie is the fifth-largest bank listed on the ASX by market capitalisation. But it’s more than just a bank. Macquarie also provides banking, financial, advisory, investment, and fund management services across 34 markets globally. 

That means it has exposure to a range of sectors and markets, including commodities trading, infrastructure deals, asset management, and capital markets. 

The bank also makes around two-thirds of its money internationally, which reduces the risk of being too focused on one region. It also means that, unlike many of its Australian peers, it isn’t reliant on lending margins.

Instead, its diversity means that it can remain stable, or even benefit, when markets are going through periods of volatility as we’ve endured throughout the first half of 2026. This makes it a very attractive investment option for exposure to financial shares, but without the concentration and risk of the local market.

What about its finances?

The investment bank posted its third-quarter trading update for FY26 in February this year, revealing that the business has experienced strong quarterly growth. 

Macquarie delivered more good news to investors last month when it posted a stronger-than-expected FY26 result and announced growth across all its operating groups.

The company posted a 30% year-on-year increase in NPAT to $4.85 billion. It noted that the second half of the financial year was particularly strong, with H2 NPAT coming in at $3.19 billion, up 93% from the first half.

Management also declared a 7.7% increase in its final partly-franked dividend to $4.20 per share.

There hasn’t been any price-sensitive news out of the company since its results announcement, so it’s likely that investors are still buying into the shares on the expectation of more growth ahead.

Macquarie’s latest results and share price performance certainly demonstrate why its valuation is sitting at an all-time high today.

The post Macquarie shares climb to fresh all-time high: Buy, sell or hold? appeared first on The Motley Fool Australia.

More reading

• Buying Macquarie shares? Here’s the dividend yield you’ll get today
• Why I’d buy and hold Macquarie shares for 10 years
• How to build a $1 million ASX share portfolio from zero
• 5 ASX shares for a winning retirement portfolio
• The ASX shares I’d pick in a FIFA World Cup first eleven

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 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.

BHP Group Ltd (ASX: BHP) shares have been on a huge run.

The mining giant hit a record high of $65.78 on Wednesday, which means the share price is now up approximately 75% over the past 12 months.

After a move like that, it is natural to ask whether the opportunity has passed. A record high can make a share feel expensive, especially when investors remember buying opportunities at much lower prices.

But I would not be rushing to sell BHP shares. In fact, I still think they are a buy for long-term investors.

The valuation is not extreme

The first point I would make is that BHP does not look wildly expensive on current forecasts.

Using CommSec consensus estimates, the company is expected to generate earnings per share of around $4.46 in FY26 and $4.48 in FY27.

At the record high price of $65.78, that puts BHP on a price-to-earnings (P/E) ratio of about 14.7 times FY26 and FY27 earnings.

That is not a bargain-bin valuation, but I do not think it is excessive either, particularly if commodity prices remain stronger for longer.

The dividend also remains useful. CommSec estimates fully-franked dividends per share of $2.12 in FY26 and $2.02 in FY27. That implies forward dividend yields of around 3.2% and 3.1%, respectively.

A supportive commodity backdrop

The bigger reason I would remain positive is the potential commodity backdrop.

Bell Potter has argued that a new resources supercycle may be forming. The broker believes several megatrends are now colliding with a resource base that has been underinvested in for years, creating the potential for “new and higher price floors” across a range of commodities.

That is an important point for BHP. The last major resources boom was driven heavily by China’s industrialisation and urbanisation. That created enormous demand for bulk commodities such as iron ore, coal, and oil.

The next cycle could look different.

Bell Potter points to AI capital expenditure, global electrification, and deglobalisation as major structural forces. Those trends are more intensive in materials such as copper, aluminium, uranium, lithium, nickel, and rare earths.

BHP is not exposed to all of those commodities equally, but it is very well placed in copper. I think that is a major reason to keep owning the stock.

Copper is central to electrification, power grids, data centres, renewable energy, and broader industrial demand. At the same time, supply is difficult to bring on quickly. Large copper projects can take many years, face permitting hurdles, and require substantial capital.

If demand keeps rising and supply remains constrained, higher prices could be more durable than the market expects.

Why I would still buy

BHP is still a cyclical business. Commodity prices can fall, China remains important, costs can rise, and investor sentiment toward miners can change quickly.

But I think the current setup is more compelling than a simple “share price has gone up, therefore sell” argument.

BHP has scale, world-class assets, strong cash generation, and exposure to commodities that could become even more valuable if the global economy keeps investing in electrification, AI infrastructure, and energy security.

The company may not rise another 75% over the next year. I would not invest on that assumption. But I think the long-term case remains strong, especially if Bell Potter is right that this is the early stage of a more structural commodity cycle.

Foolish Takeaway

I would not sell BHP shares just because they have reached a record high.

The share price has moved strongly, but the valuation still looks reasonable on consensus forecasts, the dividend yield remains respectable, and the company has exposure to commodities that could benefit from powerful long-term demand trends.

There will be volatility along the way. That comes with owning miners. But for investors with a long-term view, I think BHP remains one of the best ASX 200 resource shares to buy and hold.

The post BHP shares are at a record high, should I buy or sell? 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 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.

Novonix Ltd (ASX: NVX) shares have been hit hard on Wednesday after the battery materials company completed a capital raising.

At the time of writing, the Novonix share price is down 19.79% to 19.3 cents after falling as low as 17.5 cents earlier in the session.

The latest decline leaves the ASX battery stock down more than 50% since the start of 2026 and around 54% lower over the past 12 months.

Let’s take a closer look at why the stock is being heavily sold off.

Discounted placement adds more shares

According to the release, Novonix has received firm commitments from institutional and sophisticated investors for a $20.7 million placement.

The new shares will be issued at 16 cents each, representing a 33.3% discount to the company’s previous closing price of 24 cents.

The placement price is also 31.2% below the 5-day volume-weighted average price (VWAP) of 23 cents.

Settlement is expected on Friday, with the new shares due to begin trading on Monday.

Novonix is also giving eligible shareholders the chance to buy up to $30,000 worth of shares through a share purchase plan (SPP).

These shares will also be offered at 16 cents each, with the company aiming to raise another $3 million.

The offer is available to investors who were registered shareholders at 7:00pm on Tuesday. It is expected to open next Monday and close on 14 August.

Why are Novonix shares falling?

The large discount attached to the placement appears to be putting most of the pressure on the stock today.

Even after Wednesday’s sell-off, the Novonix share price remains around 21% above the 16-cent issue price.

The placement will also increase the number of shares on issue, diluting investors who don’t take part in the raising.

Novonix currently has more than 862 million ordinary shares on issue, with the placement adding another sizeable block of stock.

The company plans to use the funds to expand production capacity and prepare for expected customer demand.

Managing Director and CEO Mike O’Kronley said the raising would allow Novonix to continue investing in capacity while supporting its growth plans.

What does Novonix do?

Novonix produces synthetic graphite used in lithium-ion batteries and is building a North American supply chain for battery materials.

The company is expanding its Riverside facility in Tennessee, with the aim of supplying customers across the energy storage, electric vehicle, and industrial markets.

However, increasing production requires a large amount of spending before the company can generate stronger revenue from the facility.

The capital raising gives Novonix more funding to continue the expansion, but the large discounted issue price has added more pressure to existing shareholders.

The post Why is this ASX stock crashing 20% today? 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.