Category: Stock Market

The S&P/ASX 200 Index (ASX: XJO) is heading lower on Tuesday despite a strong lead from Wall Street.

At the time of writing, the benchmark index is down 0.39% to 8,879 points after falling as low as 8,834 points shortly after open.

That leaves the ASX 200 on track to give back part of the 3.3% gain recorded across the previous 2 sessions.

The selling is also spread across most of the market, with 122 companies trading lower, compared with 69 gainers and 9 unchanged stocks.

So, why is the Aussie share market falling today?

RBA decision in focus

Investors are waiting for the Reserve Bank of Australia’s (RBA) interest rate decision at 2:30pm AEST.

According to The Australian, most economists expect the cash rate to remain at 4.35% after 3 increases since February. A recent poll found that 42 of 45 economists were expecting no change today.

However, investors will be watching the accompanying statement and Governor Michele Bullock’s press conference for any clues about what could happen next.

The S&P/ASX 200 Financials Index (ASX: XFJ) was down as much as 1.4% earlier in the session before recovering most of those losses.

Commonwealth Bank of Australia (ASX: CBA) shares are down 0.80% to $160.49, while Westpac Banking Corp (ASX: WBC) shares have fallen 0.74% to $35.06.

National Australia Bank Ltd (ASX: NAB) shares are also down 0.79% to $37.17, although ANZ Group Holdings Ltd (ASX: ANZ) shares are edging 0.17% higher to $34.57.

Wall Street rally fails to carry the ASX 200

The weakness comes despite a strong overnight session in the United States.

The Nasdaq Composite Index (NASDAQ: .IXIC) surged 3.07%, the S&P 500 Index (SP: .INX) gained 1.65%, and the Dow Jones Industrial Average Index (DJX: .DJI) rose 0.92% to a record close.

Tech shares led the rally after the proposed peace agreement between the US and Iran sent oil prices lower and eased some concerns about inflation.

But the gains were concentrated in areas that have less influence on our local market. The ASX 200 also entered today after climbing 1.98% on Friday and 1.25% on Monday, which may have encouraged some investors to take profits.

Mixed company moves

There are also several large companies weighing on the index.

Wesfarmers Ltd (ASX: WES) shares are down 1.81% to $84.67, while Transurban Group (ASX: TCL) shares have dropped 2.41% to $14.98 following broker downgrades.

Aristocrat Leisure Ltd (ASX: ALL) shares are also falling 1.71% to $52.19.

Investors are also digesting weaker economic data from China. Retail sales fell 0.6% in May compared with a year earlier, marking the first annual decline since 2022.

With the RBA decision still to come, some investors may be holding back ahead of the announcement.

The post Why is the ASX 200 falling despite a huge Wall Street rally? 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 Transurban Group and Wesfarmers. The Motley Fool Australia has positions in and has recommended Transurban Group. The Motley Fool Australia has recommended Wesfarmers. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Qantas Airways Ltd (ASX: QAN) shares are gaining altitude today as global oil prices continue to come off the boil.

Shares in the S&P/ASX 200 Index (ASX: XJO) airline stock closed yesterday trading for $9.94. During the Tuesday lunch hour, shares are changing hands for $10 apiece, up 0.6%.

For some context, the ASX 200 is down 0.5% at this same time as investors await this afternoon’s interest rate announcement from the RBA.

But with the Brent crude oil price down 4.5% since Friday to trade for US$83.41 per barrel today (according to data from Bloomberg), investors are eyeing potentially juicier profits – and higher dividends – from Qantas.

The airline reports its full-year FY 2026 results in August.

Why is the oil price crashing back to earth?

As you’re likely aware, the past month’s decline in the global oil price has been driven by increased hopes of a peace deal in the oil-rich Middle East.

With a deal now on the table intended to bring an end to the Iran war, US President Donald Trump has promised that oil tankers will again begin to move freely through the crucial Strait of Hormuz by Friday.

The narrow shipping lane, which before the conflict saw around 20% of the world’s LNG and oil pass through it, has been essentially shuttered since the commencement of the Iran war at the end of February.

Indeed, one month ago, on 18 May, this saw the Brent crude oil price at US$112.10 per barrel, or more than 25% above current levels.

Spurred in part by that tumbling oil price, Qantas shares have quietly soared 18.4% since market close on 18 May, racing ahead of the 4.3% gains posted by the benchmark index over this same period.

Why a lower oil price really matters for Qantas shares

Atop the fact that an end to the Middle East conflict should help boost international travel demand, Qantas shares are highly sensitive to the oil price.

Or, more specifically, the cost of jet fuel.

How sensitive?

On 26 February – directly before the outbreak of the Iran war – Qantas reported that it expected to spend around $2.5 billion on jet fuel in the second half of the 2026 financial year (H2 FY 2026).

But just six weeks later, the airline reported that the surging oil price had materially blown out that cost guidance.

On 14 April, Qantas amended its second-half jet fuel cost expectations to be in the range of $3.1 billion to $3.3 billion. Meaning the airline could spend up to $600 million more on jet fuel than it had expected in February.

The post Qantas shares flying high on tumbling oil price 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.

Gina Rinehart’s decision to back Elon Musk’s Space Exploration Technologies Corp (NASDAQ: SPCX) has already delivered a sizeable paper profit.

The Australian mining billionaire reportedly secured more than US$1 billion worth of shares through Hancock Prospecting during the company’s initial public offering (IPO).

SpaceX shares were issued at US$135 before beginning trade on the Nasdaq on Friday.

The stock closed its first session at US$160.95 before finishing Monday at US$192.50. That leaves the SpaceX share price 42.5% above its IPO price after only two trading sessions.

Based on the US$1 billion investment, Hancock’s stake is now worth around US$1.43 billion. That represents an unrealised gain of approximately US$425 million in just a few days.

So, why did Rinehart make such a large bet?

Why Rinehart backed SpaceX

Hancock Prospecting described SpaceX as a “rare business led by an exceptional founder and operating in sectors with substantial long-term potential”.

SpaceX is best known for its reusable rockets and Starlink satellite internet network. However, the company has also expanded into artificial intelligence (AI) after adding Elon Musk’s xAI business.

Hancock Chief Executive Garry Korte said there could eventually be opportunities for the two companies to work together.

SpaceX will require large amounts of critical minerals and other materials as it develops rockets, satellites, AI infrastructure, and possible data centres in orbit.

This could line up with Hancock’s growing exposure outside iron ore, including rare earths, lithium, and other critical minerals.

A very expensive company

Even though Rinehart’s early profit looks impressive, the higher share price has also pushed SpaceX’s market value beyond US$2 trillion.

The company initially raised US$75 billion by selling 555.6 million shares at US$135 each. However, underwriters later exercised an option to buy another 83.3 million shares, increasing the total proceeds to US$85.7 billion.

Demand for the IPO exceeded US$250 billion, which helps explain why the stock has climbed so quickly since listing.

Keep in mind that the current valuation leaves very little room for disappointment.

SpaceX generated US$18.7 billion of revenue in 2025 but remained loss-making as spending increased across rockets, satellites, and AI infrastructure.

Has Rinehart bought another winner?

While Rinehart has already made hundreds of millions of dollars on paper, Hancock has presented the purchase as a long-term investment rather than a quick trade.

The possible link between Hancock’s critical minerals portfolio and SpaceX’s future material requirements also gives the deal a strategic angle.

Even so, investors buying SpaceX shares at US$192.50 are paying more than 42% above the price Rinehart secured through the IPO.

Her timing has been excellent so far. But after such a strong debut, SpaceX will need to deliver plenty of growth to justify its massive US$2 trillion valuation.

The post Gina Rinehart just made US$425 million from SpaceX shares in 2 days 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.

The All Ordinaries Index (ASX: XAO) is down 0.4% in late morning trade, despite the best lifting efforts of this rocketing ASX All Ords share.

The outperforming stock in question is Southern Cross Electrical Engineering (ASX: SXE)

Shares in the specialised electrical provider closed on Friday trading for $4.02. The ASX All Ords share entered a trading halt on Monday pending the announcement of the results of a proposed equity raising.

With those results announced this morning, investors sent Southern Cross shares leaping to $4.705 apiece, up 17%. After some likely profit taking, at the time of writing on Tuesday, shares are changing hands for $4.61 each, up 14.7%.

That sees the company commanding a market cap of around $1.2 billion. And it puts the Southern Cross share price up 179.4% over the past year.

Here’s what’s happening today.

ASX All Ords share leaps on $150 million raising

Southern Cross shares are storming higher after the company announced the successful completion of its fully underwritten institutional placement of new shares.

The placement raised $150 million, with new shares issued for $4 each. That represents a 0.5% discount to the last traded price of $4.02 on Friday. And it’s well below the current price.

That should come as welcome news to eligible stockholders of the ASX All Ords share.

Stockholders with a registered address in Australia or New Zealand as at Friday’s SPP record date can subscribe for up to $30,000 of new Southern Cross shares for $4.00 apiece.

The company is aiming to raise up to another $15 million with the retail offer.

What did Southern Cross Management say?

Commenting on the successful capital raising helping lift the ASX All Ords share today, Southern Cross managing director Graeme Dunn said, “We are very pleased with the outcome of the placement.”

Dunn thanked the company’s shareholders for their strong support and welcomed a number of new high-quality investors to its register.

Dunn added:

This funding will provide us with significant flexibility to accelerate our growth strategy as we continue to see strong momentum across our business being driven by attractive long-term growth drivers across multiple sectors.

What else is boosting the ASX All Ords share?

Southern Cross shares are also likely catching tailwinds today from a trading update released during Monday’s trading halt.

Among the highlights, the company announced that it had secured new works awards valued at more than $150 million. Southern Cross said it had already commenced the initial electrical and communications works for Multiplex at the NextDC Ltd (ASX: NXT) S4 Data Centre.

Southern Cross also raised its underlying FY 2026 earnings before interest, taxes, depreciation and amortisation (EBITDA) guidance to at least $75 million.

And management is forecasting significant earnings growth, with FY 2027 EBITDA guidance of at least $100 million.

The post How is this $1.2 billion ASX All Ords share rocketing 17% in Tuesday’s sinking market? 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 recommended Southern Cross Electrical Engineering. 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 having a subdued session on Tuesday. In afternoon trade, the benchmark index is down 0.5% to 8,868 points.

Four ASX shares that are not letting that hold them back are listed below. Here’s why they are rising:

Clinuvel Pharmaceuticals Ltd (ASX: CUV)

The Clinuvel Pharmaceuticals share price is up 2% to $9.42. This morning, this biotherapeutics company announced that it has publicly filed its Form 20-F Registration Statement with the U.S. Securities and Exchange Commission (SEC). Once reviewed and approved, Clinuvel intends to list an American Depository Share (ADS) on the Nasdaq Stock Market. The company’s legal counsel, Benson Chao, said: “Having worked closely with our auditors and counsel, CLINUVEL has addressed all questions posed by the SEC in previous rounds of confidential review and – we believe – can demonstrate compliance with the rigorous U.S. requirements. In the coming weeks we will learn the SEC’s feedback and continue our liaison with the Nasdaq team as we move towards a listing of our ADS.”

Elevra Lithium Ltd (ASX: ELV)

The Elevra Lithium share price is up 3% to $12.65. This appears to have been driven by a broker note out of Macquarie this morning. According to the note, the broker has upgraded the lithium miner’s shares to an outperform rating (from neutral) with an improved price target of $14.50 (from $13.50). This implies potential upside of almost 15% for investors from current levels. Macquarie has boosted its lithium price forecasts, which has led to upgrades to its earnings estimates.

Regis Resources Ltd (ASX: RRL)

The Regis Resources share price is up 2% to $6.77. Investors have been buying this gold miner’s shares following a jump in the gold price. Traders were bidding the precious metal higher after a US-Iran peace deal sparked hopes that oil prices will fall and inflation and interest rates won’t rise as much as feared. The S&P/ASX All Ordinaries Gold Index is up 1.5% at the time of writing.

Southern Cross Electrical Engineer Ltd (ASX: SXE)

The SCEE share price is up 15% to $4.62. Investors have been buying the specialised electrical provider’s shares after a guidance upgrade sparked a bullish broker note out of Bell Potter. Bell Potter responded to the update by retaining its buy rating with an improved price target of $5.40 (from $3.70). It commented: “Our Target Price lifts to $5.40/sh (up from $3.70/sh), given a more optimistic mediumterm revenue growth outlook, underpinned by rising investment momentum in the Data Centre and BESS construction markets. Our upgraded Target Price implies a NTM PE of 27.9x (41% premium to the peer group). This premium is justified given the company’s strong prospects of delivering acquisition accretion in the near-term.”

The post Why Clinuvel, Elevra Lithium, Regis Resources, and SCEE shares are racing higher today 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 recommended Southern Cross Electrical Engineering. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Karoon Energy Ltd (ASX: KAR) shareholders have been hit with another nasty sell-off on Tuesday.

The Karoon share price has crashed 11.29% to $1.65 at the time of writing after the oil producer revealed a major production setback.

Today’s fall takes the stock’s weekly decline beyond 20%, wiping out a large part of its recent recovery.

However, Karoon shares remain around 7% higher since the start of 2026.

So, what went wrong?

Production setback at Who Dat

According to the release, production from the Who Dat E manifold won’t restart during 2026 after further checks on the damaged equipment.

Karoon owns a 30% interest in the Who Dat oil and gas assets in the Gulf of Mexico, which is operated by LLOG Exploration Company.

Production was suspended after a problem was found with a flexible riser. This piece of equipment carries oil and gas from the subsea wells to the production facilities.

LLOG is now preparing a repair plan and expects to remove the failed riser during the third quarter of 2026.

Production from the manifold is expected to restart during the first half of 2027, provided testing and repair work go to plan.

Despite the setback, the Who Dat operation is still producing around 3,000 net barrels of oil equivalent per day.

Karoon also said production from the A-1 ST1 well remains on track to begin around the middle of the year. Work on the G-1 ST well is planned for the fourth quarter, subject to final approvals.

Production guidance cut

With part of the operation out of action, the longer outage has forced Karoon to lower its 2026 production guidance.

The company now expects Who Dat to produce between 1.2 million and 1.5 million net barrels of oil equivalent this year, down from the previous range of 2.1 million to 2.5 million barrels.

The reduction has also flowed through to the group outlook. Total production guidance has been cut from a range of 8.1 million to 9.2 million barrels to between 7.2 million and 8.2 million barrels.

On the bright side, guidance for the Bauna operations in Brazil has not changed. Although work at the SPS-92 and PRA-2 wells has faced mechanical problems and weather delays.

Karoon said both wells should return to production around mid-year, which could support output during the second half of 2026.

Why the market is disappointed

The market reaction isn’t surprising given how much production has been removed from this year’s outlook.

The midpoint of Karoon’s group guidance has fallen by around 12%, with the Who Dat outage pushing a large amount of expected production into 2027.

Fewer barrels sold this year could weigh on revenue and cash flow, particularly if oil prices remain under pressure.

After losing more than 20% in a week, investors are unlikely to have much patience for further delays.

The post This ASX energy stock just crashed 11%. Here’s what went wrong 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.

Australian investors have $353 billion invested across 451 ASX exchange-traded funds (ETFs) on the market today.

This week on The Bull, Andrew Wielandt of DP Wealth Advisory offers his recommendations as to which ones to buy.

Let’s take a look.

Milford Australian Absolute Growth Complex ETF (ASX: MFOA)

The Milford Australian Absolute Growth Complex ETF is steady at $11.46 apiece today.

This ASX ETF invests in a diversified portfolio of predominantly ASX shares, as well as some international equities and cash. 

Wielandt explains his buy rating on this ASX ETF:

The fund aims to generate returns of 5 per cent above the Reserve Bank of Australia’s cash rate.

The fund also aims to preserve capital in times of uncertainty.

Major holdings included BHP Group Ltd (ASX: BHP), National Australia Bank Ltd (ASX: NAB) and Westpac Banking Corp (ASX: WBC) shares.

This ETF proved its resilience during market volatility in March 2026.

The ETF has risen from $10.87 on June 12, 2025 to trade at $11.31 on June 11, 2026.

We like MFOA’s outlook in volatile and stable times.

The RBA’s cash rate is 4.35% after three increases already in 2026 due to resurgent inflation.

The RBA will announce its next interest rate call this afternoon at 2:30pm.

This ASX ETF’s management fee is 0.9%.

Betashares FTSE Rafi Australia 200 ETF (ASX: QOZ)

The Betashares FTSE Rafi Australia 200 ETF is down 0.2% at $19.51 apiece on Tuesday.

Wielandt likes this ASX ETF because it considers the fundamental size or economic footprint of a business, rather than just its market capitalisation. As a result, it focuses more on value shares within the S&P/ASX 200 Index (ASX: XJO).

Betashares explains the strategy:

The index which QOZ aims to track provides exposure to a diversified portfolio of Australian equities, weighted in a way that is reflective of the economic importance rather than the market capitalisation of its constituents.

Constituent weighting is based on accounting values and is known as “Fundamental indexing”.

Portfolio holdings included BHP shares, Commonwealth Bank of Australia (ASX: CBA), and Woodside Energy Group Ltd (ASX: WDS).

Wielandt also has a buy rating on this ASX ETF.

He comments:

The ETF has posted returns of 10.87 per cent per annum over the past five years and 19.12 per cent in the past year to May 29, 2026.

Consistent performance is appealing during volatile times.

The management fee is 0.4%.

The post 2 ASX ETFs to buy: expert appeared first on The Motley Fool Australia.

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Motley Fool contributor Bronwyn Allen has positions in BHP Group. 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.

DroneShield Ltd (ASX: DRO) shares are climbing higher in Tuesday morning trade.

At the time of writing, the shares are up around 1.7% to $2.97 a piece and reversing losses shed on Monday.

The increase is good news for investors, but it’s been a volatile ride for the ASX defence stock this year, and there is some way to go before the share price returns to the highs seen in January. 

DroneShield shares have fluctuated anywhere between $4.74 in January and a low of $2.77 last week. At the current trading price, the stock is down over 10% year to date and 37% from its January 2026 peak.

Thanks to last year’s rally, the shares are still around 69% higher than 12 months ago.

Why are DroneShield shares tumbling?

There has been a huge shift in sentiment for DroneShield shares over the past couple of months.

The counter-drone technology stock has attracted a lot of interest over the past year. Investors flocked to defence-related shares when governments around the world hiked their defence budgets and geopolitical risk worsened. 

But now there’s concern that DroneShield’s future growth may not be large enough to justify the latest share price. Even a flurry of contract wins hasn’t been enough to convince investors.

At the same time, it looks like a combination of recent governance and regulatory issues and cooling conflict in the Middle East has dragged investor sentiment down further.

DroneShield shares climbed higher during the first week of May, but then took a U-turn after the company announced that the Australian Securities and Investments Commission (ASIC) had requested DroneShield to provide reasonable assistance in connection with an investigation under the Corporations Act.

The investigation relates to market announcements and share trading in November 2025. 

The company made several announcements during this time, including new contract announcements and news that several executives were selling DroneShield shares through on-market trades. But it’s unclear if any of these are under investigation by ASIC.

And all this has happened amid a background of signs of easing conflict in the Middle East. While heightened conflict can increase interest in defence technology, particularly counter-drone systems, signs of easing can do the opposite.

What do analysts forecast for the shares now?

It’s not only investors which have pulled back from DroneShield shares, many analysts have also downgraded their outlook for the once-booming ASX defence company.

In late-May, TradingView data showed two analyst ratings – one as a strong buy, and the other as a hold. The average target price was $4.10.

But today shows how much analyst sentiment has shifted.

The latest TradingView data shows three analysts ratings – one is a strong buy and another two rate DroneShield shares as a sell or strong sell. The average target price is now $3.29. Although after the last share price plunge, the average target price still implies around an 11% upside, at the time of writing.

Some are even more bearish and think the shares have the potential to drop around 23% to $2.28 over the next 12 months.

The post Down 37%. Has the market lost interest in DroneShield shares? appeared first on The Motley Fool Australia.

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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 DroneShield. 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.

Mineral Resources Ltd (ASX: MIN) shares are a popular option for investors looking for exposure to the mining sector.

And thanks to strong commodity prices, they have been a successful investment.

Over the past 12 months, the mining and mining services company’s shares are up over 200%.

The good news is that Bell Potter believes the run can continue.

What is the broker saying?

Bell Potter is positive on the company’s outlook and believes the strong operational momentum could continue as management looks to take advantage of robust lithium market sentiment and prices. It explains:

MIN’s FY26 guidance midpoints imply SC6e sales down 13% QoQ at Wodgina and 15% QoQ at Mt Marion. We see upside, with strong operational momentum from the prior quarter continuing as the company capitalises on robust lithium market sentiment and prices. We expect Onslow iron ore sales to improve 17% QoQ following an inventory build in the prior cyclone-affected quarter.

Speaking of which, Bell Potter has boosted its lithium price forecasts to reflect strong demand forecasts. It said:

We have compared medium term lithium supply restarts and greenfield projects against expected demand. While Australian-based projects could add up to 590ktpa LCE (unrisked) by 2030, we view this as highly optimistic given permitting and development lead-times; and we don’t expect RoW supply will be as forthcoming.

Demand projections suggest an additional +1Mtpa LCE will be required over the same timeframe. Our spodumene concentrate (6% Li2O basis) price outlook is upgraded by 11% for the remainder of 2026, 7% in 2027 and 17% in 2028. We have also lifted our long-term spodumene concentrate price to US$1,500/t (real, previously US$1,400/t).

This has seen the broker make meaningful earnings upgrades for FY 2026, FY 2027, and FY 2028.

Mineral Resources shares tipped to rise

According to the note, the broker has retained its buy rating on Mineral Resources shares with an improved price target of $83.00 (from $80.50).

Based on its current share price of $71.42, this implies potential upside of 16% for investors over the next 12 months.

And while no dividends are expected in FY 2026, the broker believes they could return in FY 2027.

Commenting on its buy recommendation, Bell Potter said:

Completion of the US$765m MIN-POSCO lithium transaction will accelerate balance sheet deleveraging paired with cash flows from persistent iron ore and lithium market prices. MIN’s mining services platform delivers a stable earnings stream that is expected to expand with internal and third-party volume growth. The company is well positioned to execute its next phase of growth with potential to reinstate fully franked dividends.

The post Up 200%: Can Mineral Resources shares keep rising? 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.

The gold price has had a turbulent few months and is down 3% year to date, according to the team at Macquarie, driven, they say, by inflationary pressures exacerbated by the Middle East conflict.

This has also impacted the ASX-listed gold miners, many of which have traded flat or down over the period following a very strong calendar 2025.

Macquarie has just this week published a new research report into the ASX gold sector, and has upgraded two companies.

Let’s look at those first.

Evolution Mining Ltd (ASX: EVN)

The Macquarie team said Evolution delivered third-quarter results that missed expectations, and since then, “we believe Evolution shares have pulled back to a more reasonable valuation”.

They said they are forecasting material increases in earnings per share over FY27 and FY28, and they upgraded the shares from neutral to outperform.

Macquarie has a price target of $13 for Evolution shares, compared to $13.04 currently.

Greatland Resources Ltd (ASX: GGP)

Macquarie has also upgraded Greatland from neutral to outperform, saying they believe the company is on track to exceed its FY26 production and cost guidance.

They added:

Valuation has pulled back more recently, we believe offering an attractive entry to a growing production base across Telfer/Havieron. We anticipate a final investment decision (FID) for the Havieron project in the current quarter (4Q FY26) and a potential spin-off of the O’Callaghans tungsten project as near-term catalysts. An updated multiyear mine plan for Telfer is anticipated late in FY27.

Macquarie has a price target of $14 on Greatland shares, compared to $13.83 currently.

Now let’s look at some of the other companies they’ve rated as outperform.

Newmont (ASX: NEM)

The Macquarie team said Newmont was their top large-cap pick and they have a bullish price target of $176 on the shares, compared to $149.34 currently.

The analyst team said the company was “demonstrating stable production and capital discipline, evidenced, we believe, by its solid 1Q result in April, which surprised to the upside on our numbers and consensus”.

They said the company had balance sheet strength, and its US$6 billion buyback showed a commitment to rewarding shareholders.

Capricorn Metals (ASX: CMM)

The Macquarie team has a $16 price target on this gold company, compared to the current price of $13.23.

They said the company combines a stable, low-cost production base from its existing Karlawinda mine with pending growth from its Mt Gibson development project.

The Karlawinda project is also in the process of expanding, which would boost throughput from 4Mtpa to 6.5Mtpa, and output to about 150,000 ounces per year.

And finally…

Genesis Minerals (ASX: GMD)

Genesis is one of Macquarie’s top picks with a bullish share price target of $9 compared to $5.62 currently.

The analyst team said Genesis has a strong management team, which has carried out counter-cyclical M&A to grow the company, and it has also managed to exceed its initial production guidance over the past two years.

They added:

We believe that with its strong management team, a solid and deliverable growth pipeline to over 500koz, and disciplined cost control, GMD should trade at a premium to peers.

The post Which ASX gold miners has Macquarie just upgraded? 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.