Category: Stock Market

Earlier this month, Berkshire Hathaway Inc (NYSE: BRK.A) (NYSE: BRK.B) released a very important quarterly SEC filing. Although this filing, outlining the buys and sells that the investing house made during the most recent quarter, is routine for Berkshire, this one marks the first time we get a look at what the company is doing under its new management.

As most of the investing world is probably aware, Berkshire’s legendary long-term CEO, Warren Buffett, stepped down from the company he has helmed since the 1960s at the beginning of the year. Although Buffett remains the chairman of Berkshire Hathaway, his longtime deputy, Greg Abel, has stepped into the driver’s seat. The 13F filing that was released on 15 May gives us our first look at how Berkshire’s new CEO is running the show.

It has certainly not disappointed those looking for indications of a new direction for Berkshire. So today, let’s get into which shares the company was buying over the first three months of 2026.

Berkshire’s stock market buys are a surprise

In an arguably strange move for a company whose management has always prided itself on being a net buyer of shares, Berkshire was a net seller in the most recent quarter. In fact, Abel seems to be stamping his mark on the Berkshire portfolio, with a shocking 22 positions in individual shares reduced over the period. 16 of those 22 were sold out entirely. We’ll cover those sells later today, so keep your eye out for that.

In contrast, Berkshire added to just five positions, two of them new portfolio additions.

By far the biggest addition was to Berkshire’s existing holdings of Google owner Alphabet Inc (NASDAQ: GOOG) (NASDAQ: GOOGL). Alphabet was already a sizeable investment for Berkshire. But the company’s stake more than tripled over the quarter, going from 17.8 million shares at the end of 2025 to 57.8 million by 31 March.

Incredibly, that makes Alphabet the fifth-largest position in Berkshire’s portfolio today, helped along by the company’s healthy performance over 2026 (up 21.5%) so far too. That’s a big deal for the notoriously tech-phobic Berkshire.

The other positions that Berkshire added to last quarter were the New York Times Co (NYSE: NYT) and home construction company Lennar Corp (NYSE: LEN) (NYSE: LEN.B).

Berkshire tripled its stake in the fabled newspaper and media company, The New York Times, while its stake in Lennar got a smaller US$270 million boost.

Airlines make (another) return

The positions that Berkshire initiated during the quarter were Delta Air Lines Inc (NYSE: DAL) and department store Macy’s Inc (NYSE: M). Berkshire is now the proud owner of 39.8 million Delta shares (worth around US$2.8 billion) and 3.04 million Macy’s shares (US$55 million).

The Delta position is indeed very interesting. Two decades ago, Buffett famously waxed lyrical about the dangers of buying airline stocks, only to pick up major stakes in several airlines just before the pandemic struck. He subsequently sold out of all of them. So to see Delta back in the Berkshire stable is quite notable.

In addition to these American positions, Berkshire also continued to build out its position in the Japanese holdings companies it has been amassing for a while now. CNBC reports that Berkshire upped its stake in Mitsubishi Corporation and Sumitomo Corporation this year by a further 11.1% and 10.2%, respectively.

The post-Buffett age at Berkshire Hathaway has well and truly begun.

The post Berkshire Hathaway just bought these stocks appeared first on The Motley Fool Australia.

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Motley Fool contributor Sebastian Bowen has positions in Alphabet and Berkshire Hathaway. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Alphabet, Berkshire Hathaway, Lennar, and The New York Times Co. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Delta Air Lines. The Motley Fool Australia has recommended Alphabet and Berkshire Hathaway. 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 up 0.4% today, with plenty of help from this rocketing ASX All Ords coal stock.

The high-flying stock in question is Coronado Global Resources Inc (ASX: CRN).

Coronado Global shares closed on Friday trading for 21.5 cents. In late morning trade on Monday, shares are swapping hands for 25.5 cents each, up 18.6%.

This sees the Coronado Global share price up an impressive 121.7% over the past 12 months, smashing the 3.6% one-year gains posted by the All Ords.

Here’s what’s piquing investor interest again today.

ASX All Ords coal stock leaps on strategic divestment

Investors are bidding up Coronado Global shares after the miner announced it has reached an agreement to divest its Logan Mining Complex in West Virginia.

Phoenix Coal Holdings will take ownership of the Logan Mining Complex, which includes coal mining properties, leases and mining permits, as well as a preparation plant and loadout facility.

The ASX All Ords coal stock said that Phoenix will pay a “nominal cash consideration” for the asset, after working capital adjustments. Importantly, Phoenix Coal will also assume a number of liabilities attached to the asset, including reclamation and post-closing operational obligations.

As such, Coronado said it expects the transaction to be free cash flow positive as it eliminates ongoing holding costs and future obligations for the company.

Management highlighted that the deal reflects Coronado’s ongoing strategy to optimise its asset portfolio and focus on core, higher-return operations.

What did Coronado Global management say?

Commenting on the divestment that’s boosting the ASX All Ords coal stock today, interim Coronado Global CEO Gerry Spindler said: “This transaction represents a further step in streamlining Coronado’s portfolio and focusing on our high-quality core assets.”

Spindler added, “The divestment transfers future obligations associated with Logan while enabling us to prioritise capital and operational focus elsewhere.”

The transaction remains subject to customary closing conditions. The miner expects the deal to be completed in July.

Here’s what else Coronado has been up to recently.

ASX All Ords coal stock’s ‘commercial reset’

After completing a two-year expansion program, Spindler said that over the March quarter, the ASX All Ords coal stock had “commenced a structural operational and commercial reset”.

He noted, “The reset involves restructuring mine plans, improved productivity and modified contractor arrangements designed to strengthen performance.”

According to Spindler:

Capital discipline remains a priority. Coronado will continue to pursue selective upgrades to plant efficiency and targeted equipment improvements where returns are compelling.

However, no new capital programs of the scale undertaken over the previous two years, are planned, or required, reflecting both the completion of the growth phase and the Company’s focus on cash and balance sheet improvement.

The post Up 122% in a year, why is this ASX All Ords coal stock surging 19% on Monday? appeared first on The Motley Fool Australia.

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• Should you buy Coronado Global and Whitehaven Coal shares?

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.

With so many shares to choose from on the Australian share market, it can be difficult to decide which ones to buy. The good news is that brokers across the country are doing a lot of the hard work for you.

Three top ASX shares that leading brokers have named as buys this week are outlined below. Here’s why they are bullish on them:

Catapult Sports Ltd (ASX: CAT)

According to a note out of Morgans, its analysts have retained their buy rating on this sports technology company’s shares with a trimmed price target of $5.40. Morgans was pleased with Catapult’s FY 2026 results. The broker highlights that the company’s strong organic momentum has continued, with revenue increasing 19% to US$141 million and annualised contract value (ACV) ending at US$134 million, which is up 28% on the prior corresponding period. Morgans points out that operating leverage is now evident, with a 41% incremental margin in the period. It was also pleased to see average ACV per pro team cross US$30,000 for the first time and improving SaaS metrics. The Catapult share price is trading at $3.28 on Monday.

Guzman Y Gomez Ltd (ASX: GYG)

A note out of Bell Potter reveals that its analysts have upgraded this Mexican-focused quick service restaurant operator’s shares to a buy rating with an improved price target of $24.50. Bell Potter has responded positively to news that Guzman Y Gomez is closing its struggling US operations. The broker has welcomed the US exit, noting that it was a previous overhang on the stock, and sees the switch to focusing on the core Australia opportunity as more beneficial to shareholders. Bell Potter is confident in the medium-term Australia opportunity, backed by a pipeline of 108 restaurants, as well as the successful master franchising operation in Singapore and Japan. The Guzman Y Gomez share price is fetching $20.02 at the time of writing.

Paladin Energy Ltd (ASX: PDN)

Analysts at Macquarie have upgraded this uranium producer’s shares to an outperform rating with a $13.25 price target. According to the note, the broker highlights that Paladin Energy’s shares have underperformed rivals recently. Macquarie thinks this has created a buying opportunity, noting that its shares are trading at a level that implies a sizeable discount to spot prices of U308. And while the broker concedes that there are production risks heading into FY 2027, it remains positive and believes it could be a great way to gain exposure to the uranium cycle and AI megatrend. The Paladin Energy share price is trading at $11.35 today.

The post Leading brokers name 3 ASX shares to buy today appeared first on The Motley Fool Australia.

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• Which ASX uranium shares has Macquarie upgraded?
• What is Bell Potter’s view on GYG shares after its US exit?
• How much higher could Guzman Y Gomez shares go?
• These are the 10 most shorted ASX shares
• 5 things to watch on the ASX 200 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 Catapult Sports and Macquarie Group. The Motley Fool Australia has positions in and has recommended Catapult Sports and Macquarie Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

After a strong start to 2026, QBE Insurance Group Ltd (ASX: QBE) shares are giving back some ground on Monday.

The S&P/ASX 200 financial stock is down 1.25% to $23.27 at the time of writing.

That leaves QBE up around 17% in 2026, despite being flat over the past year.

Today’s fall comes after UBS analysts raised concerns about a softer insurance pricing backdrop, which could become a bigger issue heading into 2027.

So, why’s UBS taking a more cautious look at the stock?

Let’s dive in.

What UBS is watching

According to The Australian, UBS analyst Kieren Chidgey has pointed to a warning from Lloyd’s as a potential issue for QBE.

Lloyd’s has reportedly signalled it may intervene in 2027 growth plans because the insurance market is softening faster than expected.

QBE has exposure to this because it writes about 10% of its premiums through Lloyd’s.

Chidgey does not appear to be saying QBE is directly in the firing line. In fact, he said QBE is unlikely to be caught in the intervention “cross-hairs” because of its long underwriting record.

The bigger concern is what this says about margins.

UBS said the underlying margin trajectory heading into 2027 is softening, with Lloyd’s expecting rate adequacy to fall below long-term hurdle levels for the first time since 2018.

Property and energy asset coverage were named as two areas where growth could slow.

Why investors are taking notice

Insurance stocks have benefited from several years of strong premium increases, which have helped offset claims inflation, weather costs, and other risks.

QBE has been part of that trend. The company delivered a solid FY 2025 result, with statutory net profit after tax (NPAT) rising 21% to US$2.16 billion. Its combined operating ratio improved to 91.9%, which was its strongest result in several years.

The combined operating ratio is a key insurance measure. A lower number means the insurer is keeping more premium revenue after paying claims and costs.

QBE also lifted its full-year dividend by 25% to $1.09 per share. It has also guided to mid-single-digit gross written premium growth in 2026 and a group combined operating ratio of around 92.5%.

But after a strong run-in premiums and margins, investors are being reminded that insurance pricing may not keep moving in the same direction forever. If pricing pressure builds into 2027, the market may start paying closer attention to whether QBE can protect its margins.

Why QBE still has support

QBE still has some support because it is a global insurer with a broad earnings base.

The company operates across 27 countries and has exposure to Australia, North America, Europe, and other international markets. This gives it more spread than a domestic insurer tied mostly to one economy or one insurance market.

The stock also still offers a dividend yield of about 4.65%, which may be another reason investors have been willing to stick with it this year.

The post UBS sounds the alarm on this ASX 200 financial stock after a big 2026 run 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 recommended Lloyds Banking Group Plc. 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.

Some of the most interesting opportunities on the ASX tend to appear when confidence is low.

That does not mean every fallen share is a bargain. But I think the three shares in this article have been sold down heavily while still retaining strong long-term growth potential.

For patient investors, I think they are worth buying right now.

DroneShield Ltd (ASX: DRO)

DroneShield has been one of the more volatile ASX growth shares. Although its shares are up 150% over the past 12 months, they remain down by over 50% from their 52-week high.

That volatility is not surprising. The company operates in a fast-growing defence technology market, with expectations high and recent headlines adding uncertainty.

But I do not think it changes the long-term need for counter-drone technology.

Drones are now part of modern conflict, border security, critical infrastructure protection, airport planning, and public safety. They are cheap, flexible, and increasingly capable. That creates a growing need for systems that can detect, track, and respond to drone threats.

DroneShield is trying to solve that problem.

The road may stay bumpy, but I think the long-term defence theme is too powerful to ignore.

CSL Ltd (ASX: CSL)

CSL is a very different case. The healthcare giant has lost a lot of investor trust after a difficult period. Guidance downgrades, execution concerns, and weaker sentiment have pushed the shares far below where they once traded.

I think the sell-off has created a recovery opportunity.

CSL still owns valuable global healthcare businesses across plasma therapies, vaccines, and specialist medicines, which are linked to long-term medical demand.

The company clearly has work to do. It needs to restore confidence, improve consistency, and prove that its earnings can recover.

But the market now appears to be treating CSL as if its problems are permanent. I do not think they are.

The dividend yield has also become more appealing after the share price fall. That gives investors some income while they wait for the recovery to unfold.

WiseTech Global Ltd (ASX: WTC)

WiseTech is another fallen ASX share I would be happy to buy.

The company builds software for global trade and logistics, which is one of the most complex parts of the world economy.

Moving goods across borders involves customs, compliance, documents, tariffs, warehouses, carriers, and regulation. WiseTech’s software sits inside those workflows.

That creates a strong position if customers continue relying on the platform to manage more of their operations.

I also think artificial intelligence could make WiseTech more useful over time rather than disrupt it. Logistics involves repetitive documents, exception handling, classification, and workflow decisions. Smarter software could reduce manual work and increase customer value.

The stock has risks around valuation, acquisitions, and execution. But after such a large fall, I think the buying case looks far more interesting.

Foolish Takeaway

These shares are not without risk. DroneShield faces governance, disclosure, and regulatory uncertainty; CSL has damaged confidence; and WiseTech has questions to answer around execution and valuation.

But for investors willing to think in years rather than months, I think these three beaten-down ASX shares could be worth buying while sentiment remains weak.

The post Why I’d buy DroneShield, CSL, and WiseTech shares right now appeared first on The Motley Fool Australia.

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Motley Fool contributor Grace Alvino has positions in CSL and DroneShield. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended CSL, DroneShield, and WiseTech Global. The Motley Fool Australia has positions in and has recommended WiseTech Global. The Motley Fool Australia has recommended CSL. 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 had a strong run.

At $59.75, the mining giant is trading well above where it was earlier in the year, and I can understand why some investors may be wondering whether the easy money has already been made.

I do not think BHP looks like a screaming bargain after its rise. But if the question is whether it is still a good share to buy and hold, my answer is yes.

A different type of miner

BHP is often thought of as an iron ore giant, and that is fair.

Iron ore has been the company’s earnings engine for many years. Its Pilbara operations remain among the best mining assets in the world, with scale, quality, infrastructure, and cost advantages that are difficult to replicate.

That gives BHP a strong cash flow base when commodity markets are supportive.

But I think the more interesting part of the story today is what BHP could become over the next decade.

This is no longer just a simple iron ore income play. BHP has been reshaping itself around commodities that could become increasingly important in a changing global economy.

Copper sits at the centre of that.

Why copper changes the equation

Copper is used across electricity networks, renewable energy, electric vehicles, data centres, industrial equipment, and construction.

The world is going to need a lot more of it if electrification and energy infrastructure spending keep growing.

At the same time, copper supply is not easy to bring on quickly. New mines take years to approve, fund, build, and ramp up. Existing mines can face declining grades, higher costs, water constraints, community opposition, and political risk.

That creates an attractive setup for established producers.

BHP is already one of the world’s largest copper producers, which gives it a strong position if prices remain elevated over the long term.

BHP also has its Jansen potash project in Canada. This will not transform the business overnight, but I like the strategic logic. Potash gives BHP exposure to fertiliser demand and global food production, which is a different driver from iron ore or copper.

What about the valuation?

The main reason for caution is the share price.

After strong gains, I would not necessarily go all-in at once. A staged approach may make more sense, especially for investors who already have resources exposure.

But I still think BHP deserves a place in a long-term portfolio.

Morgan Stanley also appears positive. A recent note reportedly put an overweight recommendation on BHP shares with a $67.50 price target. Compared with the current share price of $59.75, that suggests analysts there still see upside from here.

Foolish takeaway

BHP shares are not as cheap as they were.

That makes position sizing and patience important.

But I still think this is one of the best ASX mining shares to buy and hold. The iron ore business remains a powerful cash generator, copper gives BHP exposure to a long-term supply squeeze, and potash adds another future growth option.

For investors willing to accept commodity volatility, I think BHP shares remain a buy at current levels.

The post Is now a good time to buy and hold BHP shares? 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.

Shares in Adore Beauty Ltd (ASX: ABY) piled on more than 7% on Monday morning after the company announced a positive trading update to the market.

Strong trading result

In a statement to the ASX, the company said that despite challenging conditions, its FY26 revenue for the first 47 weeks of the year was up 7.4% to $193.4 million compared to the previous corresponding period.

Year to date, new customer acquisition was up 13.9% while the company’s gross margin was expected to be in line with the prior year at 34.5%.

Adore Beauty also opened three new stores during the first half, bringing its total to 14 Adore Beauty stores and 6 iKOU stores.

Chief Executive Officer Sacha Laing said regarding the result:

More pronounced cost-of-living pressures have seen an increase in promotional activity in the market through April and May resulting in a tempered slowdown in trading in Q4. Pleasingly the Group is expecting to achieve gross margins for H2 in line with the prior year, achieved through our higher margin own brands and store network. While we are benefiting from new growth levers, including our loyalty program, higher-margin retail network and iKOU brand, we will not see the full benefit of these initiatives until next financial year. Store performance is in line with expectations with our retail network continuing to cost-effectively introduce new customers to the Adore Beauty brand, increase revenues, and support our online channel through new customer acquisition.

Adore Beauty said the recent period had been the most capital-intensive in its 26-year history, with investment in new stores, the acquisition of iKOU, the replacement of its core enterprise resource planning (ERP) system, and investment in AI capability.

Future looking bright

The company also issued guidance for FY27, saying the group expected revenue growth of at least 10% and underlying EBITDA of $9 to $13 million.

Mr Laing said regarding the near future:

Our large infrastructure projects remain on budget and on schedule with the ERP transition expected to be completed in the coming weeks and commissioning of our new National Distribution Centre (NDC) on track for the first quarter of FY27. Both will support a material step-up in efficiency and customer experience, with the NDC saving approximately $2 million in annualised labour costs. In addition, we have recently reshaped our Head Office team delivering over $2.5 million in cost efficiencies on an annualised basis.

Mr Laing said the company would open another four Adore Beauty stores and one iKOU store during the first half of FY27.

Adore Beauty shares were 7.8% higher at 34.5 cents mid-morning on Monday.

The company is valued at $30 million.

The post Why are Adore Beauty shares charging higher today? appeared first on The Motley Fool Australia.

More reading

• Leading brokers name 3 ASX shares to buy today
• UBS sounds the alarm on this ASX 200 financial stock after a big 2026 run
• Why I’d buy DroneShield, CSL, and WiseTech shares right now
• Is now a good time to buy and hold BHP shares?
• Experts recommend CBA and these ASX shares as buys

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 recommended Adore Beauty 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.

If you are looking for some new investment opportunities, then it could be worth checking out the three ASX shares in this article.

That’s because they have just been named as buy ideas by experts, courtesy of The Bull.

Let’s see what they are recommending to investors:

Argo Investments Ltd (ASX: ARG)

The team at Shaw and Partners thinks that this investment company’s shares are undervalued at current levels and has named them as a buy.

The broker likes the company due to the discount to its underlying asset value, as well as its attractive fully franked dividend yield. It said:

This listed investment company is trading at a material discount to its underlying asset value, offering an attractive entry point. It provides broad diversity across leading Australian companies and pays a reliable fully franked dividend yield, which was recently above 4.4 per cent. Recent results highlight steady income growth and a strong balance sheet.

Its conservative style suits investors seeking income and stability. Buying at a discount enhances long term return potential, while maintaining exposure to high quality Australian equities.

Commonwealth Bank of Australia (ASX: CBA)

Over at Investor Pulse, it has named CBA shares as a buy. It believes that recent share price weakness has created a buying opportunity for long-term focused investors.

This is especially the case given Investor Pulse’s belief that CBA shares could recover once sentiment in the banking sector stabilises. It said:

CBA remains Australia’s dominant retail bank. The recent sharp sell-off has created a more attractive entry point for long term investors. The bank generated unaudited cash net profit after tax of $2.7 billion in the third quarter of fiscal year 2026, up 4 per cent on the prior corresponding period. Lending and deposits continued to grow despite a softer economic backdrop.

CBA also maintains strong capital levels and recently paid a fully franked interim dividend of $2.35 a share for the first half of fiscal year 2026. The shares fell heavily following housing concerns flowing from the Federal Budget. We see scope for a recovery once sentiment stabilises.

Kingsgate Consolidated Ltd (ASX: KCN)

Another ASX share that Investor Pulse rates as a buy this week is gold miner Kingsgate.

It highlights its exposure to elevated gold prices as a reason to be positive, commenting:

Kingsgate operates the Chatree gold mine in Thailand and is benefiting from elevated gold prices and improving operational momentum. We like the stock because March quarter gold production reached 21,036 ounces, with record margins of $US2613 per ounce.

Total cash and bullion climbed to $213.4 million, while debt was significantly reduced. Management is also targeting gold production of between 85,000 ounces to 95,000 ounces in full year 2026, supported by stronger grades and ongoing exploration upside near Chatree.

The post Experts recommend CBA and these ASX shares as buys 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.

S&P/ASX 300 Index (ASX: XKO) gold stock Black Cat Syndicate Ltd (ASX: BC8) is leaping higher today.

Black Cat shares closed on Friday trading for $1.045. In earlier morning trade on Monday, shares jumped to $1.135, up 8.6%. At the time of writing, shares are changing hands for $1.128 apiece, up 7.9%.

For some context, the ASX 300 is up 0.1% at this same time.

Here’s what’s catching investor interest.

ASX 300 gold stock rockets on growth plans

Black Cat shares are surging today after the miner released an update on its ambitious 2026 exploration and growth plans at its Coyote Gold Operation, located in Western Australia.

The ASX 300 gold stock aims to kick off drilling in June, noting that prior drill campaigns at the project have “consistently” intersected gold mineralisation.

Black Cat said it will spend $11 million in the 2026 field season to deliver 35,000 metres of drilling at Coyote. That’s more than three times as much as the miner has drilled since acquiring the project.

The company aims to expand the current Resource, which stands at 645,000 ounces at 5.5 grams of gold per tonne.

What did Black Cat management say?

Commenting on the upcoming drill campaign that’s boosting the ASX 300 gold stock today, Black Cat managing director James Bruce said, “This discovery program is one of the largest drilling investments in Coyote’s history and will build on the successful high-grade discoveries at Coyote over twenty-five years ago.”

Bruce added:

The aim is to extend mineralisation to 850 metres depth to materially strengthen the underground Resource and unlock additional high-grade gold potential.

Coupled with existing surface infrastructure and the extremely high-grade nature of the orebody, this discovery program will better define the opportunity to develop a modern efficient underground operation at a scale that creates value for Black Cat.

What else is happening with the ASX 300 gold stock today?

Separately, Black Cat reported on its Barrenjoey Emerging Gold Investor Day presentation today.

The ASX 300 gold stock highlighted that its three West Australian gold mines have an FY 2026 production rate of 100,000 ounces of gold.

And with global gold prices remaining at historic highs, management noted that Black Cat remains 100% unhedged. This saw the miner achieve a realised gold price of $6,817 per ounce.

As for funding its growth ambitions, Black Cat has no debt and $92 million in cash and investments.

Black Cat generated $61 million of operating cash flow in the March quarter.

The post This ASX 300 gold stock is leaping 9% today on major growth news 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.

As you may have heard, the investing world is currently abuzz with the looming initial public offering (IPO) of SpaceX. It is well-known, despite its current status as a private company, for its cutting-edge rockets, its Starlink satellite internet services, and, more recently, its ownership of xAI and X (formerly Twitter).

Of course, SpaceX is also famous for its CEO, the irreplaceable Elon Musk. Musk cuts a controversial figure. But no one can deny that his leadership of SpaceX is almost single-handedly responsible for the manic interest in its impending IPO.

According to Forbes, Musk is pursuing a dual-class stock structure for SpaceX, once it becomes a public company. Although these dual-class structures are not permitted on the ASX, they are an increasingly common choice for US stocks. Let’s break down how it works.

In a nutshell, dual-class share structures create multiple versions of shares in a company’s stock. Here on the ASX, we tend to follow a democratic ‘one share, one vote’ methodology. There is only one iteration of Telstra Group Ltd (ASX: TLS) shares, for example, and every share gives an investor one vote. That is not the case with many US stocks, though. Dual-class structures allow a company to create tiers of stock. Most of the time, these tiers represent the same ownership stake of a company, but alter its voting power.

SpaceX IPO: 10 votes for Musk, 1 for the public

They are often created to ensure that the founders of a company can retain control over it despite being able to sell down a significant portion of their shares. What’s even more startling is that the class of shares that founders and insiders tend to own is often not even traded on the public market.

This is the model that SpaceX reportedly intends to follow. Here’s how it set out its proposed stock structure in its recent prospectus:

Following the completion of this offering, we will have two classes of common stock issued and outstanding: Class A common stock  and Class B common stock. Each share of Class A common stock will entitle its holder to one vote per share. Each share of Class B  common stock will entitle its holder to 10 votes per share. Class A shareholders and Class B shareholders will vote together as a  single class on all matters to be voted on by shareholders, except Class B shareholders will be entitled to elect a majority of our board  of directors in addition to having certain other class votes…

If this structure is implemented, it will allow Musk to own about half of the economic share of SpaceX, but give him more than 80% of the company’s voting power. That relegates other shareholders to mere spectators in the company’s affairs.

The Zuckerberg method

If that sounds rather wild, it is not, by any means, unprecedented in America. Facebook-owner Meta Platforms Inc (NASDAQ: META) follows a similar structure. Meta’s Class A shares are the META stock we see being quoted on the markets every day. However, its Class B shares are unlisted and are almost all owned by founder Mark Zuckerberg. It’s how ‘Zuck’ can own less than 15% of Meta, but has a sole casting vote on any company decisions.

Some stocks take it even further. Google-owner Alphabet Inc (NASDAQ: GOOG)(NASDAQ: GOOGL) has three types of shares: Class A, Class B, and Class C. Class A shares (GOOGL) have one vote per share. Class C (GOOG) shares represent the same ownership stake in Alphabet, but come with no voting rights. However, Class B shares represent the same ownership stake as Classes A and C, but grant their owner ten votes per share.

Class B shares are unlisted, though, and are mostly divided between Alphabet’s two co-founders, Larry Page and Sergei Brin.

Companies tend to follow these dual-class structures when they want outside investors’ money, but not their input. That’s clearly the model Musk is pursuing at SpaceX. Given his profile and following, I’d be surprised if too many investors even cared.

The post SpaceX IPO: What are dual-class shares? appeared first on The Motley Fool Australia.

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Motley Fool contributor Sebastian Bowen has positions in Alphabet and Meta Platforms. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Alphabet and Meta Platforms. The Motley Fool Australia has positions in and has recommended Telstra Group. The Motley Fool Australia has recommended Alphabet and Meta Platforms. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.