The gold price has enjoyed a remarkable run higher in 2025, helping most every S&P/ASX 200 Index (ASX: XJO) gold share deliver outsized gains.

At the time of writing on Monday, the yellow metal is trading for $4,208 per ounce. That sees bullion up more than 60% year to date.

2025 has seen the gold price smash new record highs more than 50 times, with gold setting its latest all-time high of more than US$4,356 per ounce on 20 October.

As for ASX gold shares, the S&P/ASX All Ordinaries Gold Index (ASX: XGD) has rocketed a jaw-dropping 101.2% so far in 2025, racing ahead of the 4.9% year-to-date gains delivered by the ASX 200.

As for some of the biggest ASX gold shares, the Northern Star Resources Ltd (ASX: NST) share price has gained 67.9% this calendar year; Newmont Corp (ASX: NEM) shares have gained 124.3%; and the Evolution Mining Ltd (ASX: EVN) share price is up 145.1% in 2025.

With this brilliant picture in mind, what can ASX investors expect in the year ahead?

Will the gold price and ASX gold shares keep surging in 2026?

For some greater insight into this million-dollar question, we defer to the World Gold Council (WGC), which just released its 2026 outlook report.

Noting that this year marks the fourth-strongest annual returns for the gold price since 1971, the WGC said, “Two macro forces stood out as drivers: a supercharged geopolitical and geoeconomic environment, and US-dollar weakness coupled with marginally lower interest rates.”

These factors have helped lift bullion since gold is priced in US dollars. And as the yellow metal pays no yield itself, it tends to perform better in low or falling interest rate environments. Gold’s haven status has also been on clear display amid heightened global uncertainty and tensions.

As for what’s next for the gold price, the WGC offered three potential scenarios.

In the bearish case of gold, and ASX gold shares, the WGC noted:

Stronger-than-expected growth and rising inflation would push yields and the US dollar higher, triggering a rotation into risk assets. With hedges unwound and retail demand softening, gold could correct 5%–20% from current levels.

In the “moderately bullish” case for gold investors, the WGC said:

A mild economic slowdown, characterised by lower interest rates, a softer US dollar and rising risk aversion, could support moderate gains for gold. In this environment, gold could rise 5%–15% in 2026, depending on the depth of the slowdown and the pace of Fed rate cuts.

As for the bullish scenario, the World Gold Council said:

A deeper downturn marked by sharply falling yields, elevated geopolitical stress and a pronounced flight to safety would create exceptionally strong tailwinds for gold. Under this scenario, gold could surge 15%–30% in 2026.

The analysts noted that other factors, including central bank demand and gold recycling trends, could also influence the market for the precious metal.

“Most importantly, gold’s role as a portfolio diversifier and source of stability remains key amid continued market volatility,” they said.

All considered, the WGC concluded that in 2026 “the forces of softer growth, accommodative policy, and persistent geopolitical risks” are more likely to support a higher gold price, and by connection ASX gold shares, than not.

The post After smashing 50 record highs in 2025, what’s ahead for the gold price and ASX gold shares like Northern Star in 2026? appeared first on The Motley Fool Australia.

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Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Shares in Beach Energy Ltd (ASX: BPT) were trading lower on Monday despite the company ticking off a key milestone at its Waitsia project in Western Australia.

The Adelaide-based oil and gas producer told the ASX in a statement that it had delivered the first sales gas from its Watsia gas plant into the pipeline network, “marking the critical first gas export milestone for the project”.

The company said further:

Following the recently announced ready for start up milestone, certification procedures and processes have been completed which enabled export of sales gas into the pipeline network. Following achievement of first gas, the facility is now completing the planned emergency power restart test procedures before commencing the production ramp-up.

Project late and over budget

Beach announced the “ready for start up” milestone at Waitsia in November, in a belated positive announcement regarding the project which has been delivered overdue and over budget.

Beach said at the time that once fully operational, the Waitsia plant will have a capacity of 250 terajoules of gas per day.

RBC Capital Markets analysts said at the time that the major revenue impact from Waitsia now looked like it would arrive next financial year.

As they said in a note to clients:

We expect investors to be pleased this project is finally going to start up, as it drives a stepped increase in Beach earnings; however, the delivery of this project has been a significant disappointment in our view. Waitsia Stage 2 has undergone a significant delay (initially a late 2023 start up) and a material circa 70% cost increase.

The RBC analysts said their initial forecast was for Waitsia Stage 2 to achieve 90% capacity by the end of January 2026, “but it now appears more likely this will be by the end of February 2026 … making Waitsia more of an FY27 earnings impact story for Beach”.

Beach in October reported first-quarter sales of 6.8 million barrels of oil equivalent, up 15%, and sales revenue of $537 million, up 18%.

Managing director Brett Woods said at the time it was a strong start to the year, “with increased production, two Waitsia LNG cargoes lifted during the quarter and the Waitsia gas plant nearing the important ready for start up milestone”.

The company also said it was playing a critical role in supplying the domestic gas market, accounting for 19% of total east coast gas demand last financial year.

Beach was valued at $2.66 billion at the close of trade on Friday. Its shares were trading 1.1% lower on Monday at $1.15.

The post Beach Energy shares fall despite the company reaching a key milestone appeared first on The Motley Fool Australia.

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• This surging ASX energy stock is tipped to storm another 42% higher

Motley Fool contributor Cameron England has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

This $10 billion S&P/ASX 200 Index (ASX: XJO) stock has staged an impressive comeback in recent months.

After facing cost challenges and reduced profits, BlueScope Steel Ltd (ASX: BSL) is regaining traction as investors respond positively to its stronger fundamentals.

The share price tells the story. Over the past month, BlueScope has climbed steadily with 6.4% to $23.68 at the time of writing, extending a recovery trend that began mid-year.

Over six months, the ASX 200 stock has rebounded strongly from lows in the high teens, delivering a convincing turnaround. Year to date, the share price is up more than 26%, making it one of the more resilient names in the ASX materials sector.

This raises the question: Can BlueScope Steel continue the rally into the new year?

Recovering Australian and US markets

The revival of the ASX 200 stock stems from several factors. Australian construction activity has strengthened, boosting demand for BlueScope’s coated and painted steel products, like Colorbond and Zincalume. The company’s North American operations have also benefited from a more supportive trade environment, giving its US mini-mill business extra breathing room.

Add ongoing cost-reduction programs, efficiency gains, and a strategic push toward higher-margin premium steel products, and the market sees a company positioning itself more smartly within a cyclical industry.

Steep energy and material costs

That doesn’t mean the risks have vanished. BlueScope still faces steep energy and raw-material costs at home. The board of the ASX 200 stock publicly flagged this as a threat to the competitiveness of Australian manufacturing.

Its recent full-year profit collapse — down nearly 90% following an impairment on its US coated-products division — highlighted weaknesses in parts of its global portfolio. Global steel spreads remain volatile, and any slump in construction or manufacturing demand could quickly weigh on margins.

The company also continues to grapple with lower returns on equity compared with industry peers, raising questions about capital efficiency.

Better sentiment

For now, the rally looks grounded in improving operational performance rather than pure sentiment. If energy pressures moderate and steel demand holds firm, BlueScope has a credible path to extend its end-of-year surge.

Despite the headwinds, sentiment is improving. Management of the steel producer has kept dividends stable, signalling confidence in the underlying business. Operationally, the company’s Australian steelmaking division remains a steady performer, while its move toward branded, value-added products gives it more pricing power than commodity steelmakers typically enjoy.

Analysts are generally upbeat, with most analysts recommending the ASX 200 stock as a buy or even a strong buy. Several major brokers see further room for gains, with average 12-month price targets just over $26 and some high-end estimates of $28. This implies an 18.5% upside at the current share price.

The post Can this ASX 200 stock keep its end of year rally going? appeared first on The Motley Fool Australia.

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Motley Fool contributor Marc Van Dinther has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The S&P/ASX 200 Index (ASX: XJO) is starting the week in a subdued manner. In afternoon trade, the benchmark index is down 0.35% to 8,602.7 points.

Four ASX shares that are falling more than most today are listed below. Here’s why they are dropping:

Andean Silver Ltd (ASX: ASL)

The Andean Silver share price is down 12% to $1.84. This morning, the silver developer revealed that it has received firm commitments for a $30 million placement to institutional and sophisticated investors. The placement was undertaken at $1.85 per new share, which represents an 11.5% discount to its last close price. Andean’s chief executive, Tim Laneyrie, said: “We have an abundance of opportunities to drive growth and value creation. The proceeds from the Placement and SPP will help us unlock these opportunities through drilling programs, project studies and potential land acquisitions. We are on track to deliver a resource upgrade in the new year while ramping up our drilling to grow and upgrade the resource.”

Boss Energy Ltd (ASX: BOE)

The Boss Energy share price is down 5% to $1.60. This follows news that the uranium producer is one of six shares that will be kicked out of the benchmark ASX 200 index at the next quarterly rebalance. Boss Energy shares will be removed from the index at the start of trade on 22 December. This may have forced some fund managers with strict investment mandates to sell its shares today.

Chalice Mining Ltd (ASX: CHN)

The Chalice Mining share price is down 9% to $1.59. This has been driven by the release of the pre-feasibility study (PFS) for the Gonneville Palladium-Nickel-Copper Project. The PFS confirmed a long life, globally competitive critical minerals mine in Western Australia, which it believes will generate $4.7 billion in free cashflow (pre-tax) over an initial 23 year open-pit mine life. It also estimates that it has a rapid payback of 2.7 years. However, a final investment decision on the project is not expected until the first half of 2028. This means there is significant uncertainty with respect to commodity price assumptions used in the PFS.

Rio Tinto Ltd (ASX: RIO)

The Rio Tinto share price is down 1.5% to $136.45. This is despite copper prices rising on Friday. Some investors may be taking profit after strong gains were made in recent months. For example, since this time six months ago, Rio Tinto’s shares remain up 25%. In other news, this morning Macquarie Group Ltd (ASX: MQG) retained its neutral rating and $130.00 price target on the miner’s shares.

The post Why Andean Silver, Boss Energy, Chalice Mining, and Rio Tinto shares are falling today appeared first on The Motley Fool Australia.

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• ‘Stronger, sharper, and simpler’: Rio Tinto shares fall despite major update

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

The All Ordinaries Index (ASX: XAO) has gained 5.2% in 2025, with one ASX All Ords gold stock doing plenty of the heavy lifting.

The brightly shining company in question is New Murchison Gold Ltd (ASX: NMG).

New Murchison Gold shares are slipping today, down 2.4% to trade for 4.0 cents apiece.

Still, that sees shares in the ASX All Ords gold stock up a very impressive 300% in 2025. Or enough to turn a $10,000 investment into $40,000.

And the analysts at Taylor Collison believe it’s not yet overpriced, issuing a speculative buy rating on New Murchison Gold shares towards the end of November.

“We see NMG as an emerging gold producer in Western Australia, underpinned by its initial production from the high-grade Crown Prince open pit in the Murchison region,” the analyst noted.

Here’s why they like this junior Aussie gold miner.

Should you buy the ASX All Ords gold stock today?

The first reason you may want to buy this ASX All Ords gold share today is the strong potential and strong start at Crown Prince.

“We see Crown Prince’s high-grade feed as the centre of the story. It delivers strong margins, supporting early cash generation,” Taylor Collison noted.

Noting the miner’s “impressive first quarter performance”, the broker said:

Crown Prince’s first quarter delivered 3.2koz of gold sales and showed the operation can generate high margins from the outset. Open-pit mining produced 9.9koz at 1.92g/t, including a 7.6koz parcel grading 3.8g/t sold to Westgold Resources Ltd (ASX: WGX)  under the OPA…

In our view, this recent performance firmly supports the grade profile and consistency of Crown Prince, giving us confidence in the team and the ore body going forward.

The second reason this ASX miner could continue to amply reward shareholders is its planned underground gold mine at Crown Prince.

“We see the underground Scoping Study for Crown Prince, due late 2QFY26, as the most important technical milestone ahead,” Taylor Collison noted.

The broker added:

We expect it to test gold continuity below the current pit shell and define the framework for a realistic underground operation. Our view is that NMG would only commit if resources exceed ~300koz, which we believe will be achieved and therefore, have used in our EV/oz-based valuation.

Which brings us to the third reason you might want to buy this surging ASX All Ords gold stock today. Namely the miner’s strong cash flow and growth potential.

According to Taylor Collison:

The combination of a successful start to mining and a heightened gold price has left NMG in an impressive financial position. We forecast NMG to have >$100m (TCe) in cash by end of FY26, providing it with capacity to fund any development workstreams for either the UG or satellite OP deposits.

This adds to the investment thesis as it reduces funding risk for any future growth initiatives.

Clear upside to New Murchison Gold share price target

Taylor Collison has a price target of 4.1 cents on the ASX All Ords gold stock. Now, that’s only 2.5% above current levels.

But the broker noted that there’s a “clear upside to our valuation”.

Taylor Collison concluded:

Our valuation only incorporates the Crown Prince OP production scenario and does not take into account the potential upside from the development of other open pits or the underground prospect below the current OP.

We view these as the biggest catalysts to the valuation in the future and expect them to have a positive impact on the share price.

The post Up 300% this year, 3 reasons to buy this ASX All Ords gold stock today appeared first on The Motley Fool Australia.

More reading

• Why are ASX gold shares and ETFs soaring 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 All Ordinaries Index (ASX: XAO) is down 0.2% on Monday, and it’s not getting any help from this plunging All Ords ASX silver share.

The falling miner in question is Andean Silver Ltd (ASX: ASL).

Andean Silver shares closed last Thursday at $2.09 each. Then the stock entered a trading halt on Friday pending the release of an announcement regarding a capital raising.

That announcement was released before market open today. And investors have responded by reaching for their sell buttons.

In late morning trade on Monday, the ASX silver share is trading for $1.83, down 12.4%. But don’t feel too badly for longer-term shareholders. Amid record-setting silver prices and the miner’s own operational successes, the share price remains up 117.9% in 2025.

Now, here’s what’s putting the Andean Silver share price under pressure today.

All Ords ASX silver share raises $30 million at sharp discount

The Andean Silver share price is under heavy pressure after the company reported that it has received firm commitments from institutional and sophisticated investors to raise $30 million through the issue of just over 16.2 million shares.

While those new funds will be welcome, investors are selling the ASX silver share as the company is issuing the new shares for $1.85 each, or 11.5% below Thursday’s closing price.

Andean Silver said it will also undertake a share purchase plan (SPP) to raise approximately $3 million. Those new shares will also be issued for $1.85 apiece.

The miner intends to use much of the roughly $33 million in expected new funds to fast-track the drilling campaign at its Cerro Bayo Silver-Gold Project, located in Chile. This was said to include resource growth, resource conversion, and regional exploration.

What did management say?

Commenting on the discounted capital raise that’s pressuring the ASX silver share today, Andean Silver CEO Tim Laneyrie said, “We have an abundance of opportunities to drive growth and value creation.”

Laneyrie added, “The proceeds from the Placement and SPP will help us unlock these opportunities through drilling programs, project studies and potential land acquisitions.”

Looking ahead, he concluded:

We are on track to deliver a resource upgrade in the new year while ramping up our drilling to grow and upgrade the resource.

Andean is uniquely placed in the silver market with its significant existing infrastructure which will help deliver a capital-light restart in the quickest and most efficient manner. Being well supported and funded by shareholders will enable that groundwork to occur during 2026.

The post Up 118% in 2025, why is this All Ords ASX silver share crashing on Monday? appeared first on The Motley Fool Australia.

More reading

• Why Andean Silver, Boss Energy, Chalice Mining, and Rio Tinto shares are falling today
• Up 109% or more! These 4 ASX mining stocks are booming as the silver price hits all-time high
• Up 162% in 2025, why is this ASX All Ords silver share leaping higher again 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 ASX tech stock Gentrack Group Ltd (ASX: GTK) has been an under-the-radar ASX growth share for several years. Aside from the disturbance from COVID-19, the company has been an impressive performer over the past decade.

The business provides utilities businesses and airport companies with enterprise software for billing, customer and operations management.

Some of its customers include EnergyAustralia, Red Energy, Hunter Water, Vocus, Amber, Utility Warehouse, Cleveland Airport, Brisbane Airport, London Gatwick, Manchester Airport, JFK Airport, Edinburgh Airport, Sydney Airport, Melbourne Airport, Seattle-Tacoma Airport and Launceston Airport.

Fund manager Wilson Asset Management is excited about the potential of Gentrack, with the ASX tech stock being a position in the portfolio of WAM Capital Ltd (ASX: WAM).

WAM Capital is a listed investment company (LIC) that targets “the most compelling undervalued growth opportunities in the Australian market”. Let’s take a look at why WAM is optimistic about the technology company.

WAM’s bullish case on Gentrack shares

The fund manager pointed out that the Gentrack share price rose in November (by around 20%), after the release of the company’s FY25 result, with revenue climbing 8% to NZ$230.2 million.

Profitability significantly improved at the ASX tech stock with operating profit (EBITDA) going up by approximately 18% and statutory net profit after tax (NPAT) increasing by 119% year-over-year.

Wilson Asset Management explained that this growth was underpinned by “solid demand” across both the utilities and airports segments.

Utilities total revenue grew 7% to $193.4 million with recurring revenue climbing by 12% thanks to wins and upgrades from prior periods turning into recurring revenue.

Veovo (airports) revenue jumped 15% to $36.8 million, driven by new customer wins in the prior year in the UK and the Middle East, as well as upgrades in the Asia Pacific region. Recurring revenue rose 18% year over year, while project work grew 13% compared to the prior corresponding period.

Strong outlook

The fund manager highlighted that the key focus for investors was new disclosure on the customer pipeline, providing “greater visibility on the number, scale and maturity of the opportunities being progressed.”

WAM believes the above potential implies the ASX tech stock could more than double its existing recurring utilities revenue over time, setting a baseline for more than 8% revenue growth in FY26 (excluding new-logo wins) and an acceleration to more than 15% growth in FY27.

Wilson Asset Management also believes that operating leverage is expected to continue to drive profit margin expansion for the business.

Finally, the fund manager noted that the company recently hosted an investor day which highlighted “strong advances in the technology stack and importantly sees the g2.0 product suite now being available to new and existing customers.”

The post A fund manager really likes this exciting ASX tech stock! appeared first on The Motley Fool Australia.

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

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

Nvidia‘s (NASDAQ: NVDA) graphics processing units (GPUs) for data centers are the gold standard for developing artificial intelligence (AI) models. Demand continues to exceed supply for these chips, as the world’s largest tech giants battle for supremacy in the emerging AI industry.

By 2030, Nvidia CEO Jensen Huang estimates data center operators will be spending up to $4 trillion annually on infrastructure to meet demand from AI developers, and a sizable chunk of that money will go toward GPUs.

Nvidia stock has soared more than tenfold since the beginning of 2023, which is when the AI boom started gathering momentum, but it’s still trading at a very attractive valuation. The stock is priced at $181 as I write this, but here’s why I predict it will breeze past $300 in 2026. 

Nvidia will launch its most powerful GPUs ever in 2026

GPUs are designed for parallel processing, meaning they can handle multiple tasks simultaneously which makes them ideal for data-intensive AI workloads. Nvidia’s GPU architectures (the latest of which is called Blackwell Ultra) are optimized specifically for AI, and it currently leads the industry in terms of performance.

Blackwell Ultra-based GB300 GPUs produce up to 50 times more processing power in certain configurations compared to Nvidia’s original Hopper-based H100 chips from 2022, which highlights how far the company has come in just three years.

The H100 was perfect for one-shot large language models (LLMs) like OpenAI’s GPT-3 and Alphabet‘s Gemini 1 from a few years ago, but each new generation of AI model requires more computing capacity. In fact, Nvidia CEO Jensen Huang says the latest reasoning models — like GPT-5.1 and Gemini 3 — consume up to 1,000 times more tokens (words and symbols), so even Blackwell Ultra GPUs aren’t necessarily enough.

But Nvidia plans to take an enormous leap forward in 2026 by launching its new Rubin architecture. It’s expected to be around 3.3 times more powerful than Blackwell Ultra, which implies a staggering 165 times performance increase over Hopper. Nvidia is already experiencing more demand than it can possibly supply for its current chips, and Rubin will probably accentuate that imbalance, giving the company incredible pricing power.

Record revenue is forecasted for next year

According to management’s guidance, Nvidia is on track to generate a record $212 billion in total revenue during its current fiscal 2026 year (which ends on Jan. 31, 2026). Almost 90% of that revenue will come from the data center segment alone, which highlights the importance of GPU sales.

Wall Street’s consensus estimate (provided by Yahoo! Finance) shows that Nvidia’s revenue could soar by 48% to $313 billion in fiscal 2027 (which starts in February 2026). Analysts also predict the company’s earnings could surge by 59% year over year to $7.46 per share, which could have an extremely positive impact on its stock. I’ll discuss this further in a moment.

Nvidia has made a habit of beating its own forecasts and Wall Street’s estimates over the last couple of years, because demand for its AI GPUs has consistently been far stronger than expected. With the Rubin architecture in the pipeline, that dynamic is unlikely to change over the next 12 months.

Nvidia stock looks cheap

Based on Nvidia’s adjusted (non-GAAP) trailing 12-month earnings of $4.05 per share, its stock is trading at a price-to-earnings (P/E) ratio of 45.1. That’s a steep discount to its 10-year average of 61.2. If we use Wall Street’s fiscal 2027 earnings estimate of $7.46 per share, that places Nvidia stock at an even more attractive forward P/E ratio of 24.4:

NVDA PE Ratio data by YCharts

That means Nvidia stock would have to climb by 84% next year just to maintain its current P/E ratio of 45.1, and it would have to soar by a whopping 151% to trade in line with its 10-year average P/E ratio of 61.2. That would place the stock at somewhere between $334 and $454.

That being said, there are no guarantees in the stock market, especially in industries that move as fast as AI. Nvidia is facing growing competition from other chip makers, and also from tech giants like Alphabet, which are now training their AI models using their own specially designed chips.

This won’t be a near-term problem for Nvidia if Huang is right about AI infrastructure spending reaching $4 trillion annually by 2030, because it means demand for data center GPUs is likely to outstrip supply for the next several years.

However, Nvidia investors should keep a close eye on the competitive landscape in the new year, because if the company does experience declining demand, it could struggle to meet Wall Street’s revenue and earnings estimates, negatively impacting its stock.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

The post Prediction: Nvidia stock is going to soar past $300 in 2026 appeared first on The Motley Fool Australia.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

More reading

• How to invest your first $1,000 in the share market the smart way
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• Amazon is expanding its AI chip ambitions. Should Nvidia investors be worried?

Anthony Di Pizio 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 Alphabet and Nvidia. The Motley Fool Australia has recommended Alphabet and Nvidia. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The team at Macquarie have run the ruler over the mid-cap energy sector, and there’s one company they say stands out from the crowd.

Macquarie analysts are tipping a 41% increase in the share price of Amplitude Energy Ltd (ASX: AEL), forecasting the shares will hit $4, up from $2.84 at the time of writing their report.

They say the market is “risking the exploration program too heavily and we are particularly encouraged by the recent ConocoPhillips discovery at Essington-1”.

That refers to a new offshore gas discovery announced by ConocoPhillips last month, which spurred significant interest in the shares of its joint venture partner 3D Energi Ltd (ASX: TDO).

ConocoPhillips owns a 51% stake in the project and is the project operator, while Korea National Oil Company owns a 21% stake, and 3D owns a 20% stake.

The Australian company said in a statement to the ASX at the time that the Essington-1 drilling program had intersected two gas bearing reservoirs, with one having 58.5 metres of net gas pay while the second had 31.5 metres.

Cashed up for growth

Amplitude Energy has its own exploration program on the cards, as Chair John Conde told the company’s recent annual general meeting:

A few weeks ago we announced the proposed expansion of the East Coast Supply Project through an intended fourth well at the Nestor prospect. This expansion will maximise utilisation of our existing Otway Basin infrastructure and available processing capacity at the Athena Gas Plant, creating flexibility to supply gas during periods of high demand and pricing, including for gas-powered electricity generation.

Mr Conde said the engineering and drilling regulatory approvals for the Nestor drilling were already in place, and together with its joint venture partner, OG Energy, the company was working towards making a final investment decision in early calendar 2026.

To fund this and other growth opportunities, such as the potential restart of the Patricia Baleen field in the Gipplsand Basin, our company completed a $150 million equity raising in mid-October. We are very pleased with the level of demand shown for the equity raising, including from several new institutional investors and of course, from many of our loyal shareholders.   

Amplitude Energy was valued at $872.9 million at the close of trade on Friday.

Among other energy stocks, Macquarie has a neutral rating on Karoon Energy Ltd (ASX: KAR) and a neutral rating on Strike Energy Ltd (ASX: STX).

The post Which energy company is Macquarie tipping for a 41% share price rise? appeared first on The Motley Fool Australia.

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Motley Fool contributor Cameron England has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Premier Investments Ltd (ASX: PMV) shares have been having a tough time in 2025.

Since the start of the year, the retail giant’s shares are down almost 40%.

Things have been so bad, that the Peter Alexander and Smiggle owner’s shares hit a fresh 52-week low of $14.96 on Monday.

Is this a buying opportunity for investors? Let’s see what analysts at Macquarie Group Ltd (ASX: MQG) are saying.

What is the broker is saying?

Macquarie was disappointed with Premier Investments’ trading update at its annual general meeting and appears concerned that the poor form could continue. It said:

Disappointed expectations, falling -15% below VA Consensus expectations, and implying -7% decline y/y. PMV noted ‘discretionary spending remains under pressure with consumers cautious due to ongoing cost-of-living impacts’. ABS data indicates that monthly spending grew +3.5% MoM (+6.4% YoY), and Overall Discretionary improved +1.6% MoM (+5.1% YoY) in Oct-25. Further, our High Frequency Consumer Data also indicates that discretionary consumer spend is not declining.

We think the quantum of Smiggle’s expected decline (MRE: -15% y/y) suggests continuing product weakness + share loss. We also question whether Peter Alexander is still maintaining the ~9% sales growth at the Aug-25 result, with our forecasts now expecting a moderation to +5% growth for 1H26E, implying a deterioration over Sep-Nov-25.

Should you buy Premier Investments shares?

While the broker acknowledges that Premier Investments shares look cheap on paper, it is recommending investors keep their powder dry until its next update. Macquarie said:

We think the market has priced-in zero earnings for Smiggle, with the PMV valuation effectively reflecting the value of its BRG stake (A$6.93 per share), and Peter Alexander (A$9.24 per share). However, we reiterate Neutral, and look to the next disclosure of PA Segment LFL performance to gain confidence that earnings weakness is contained only to Smiggle.

According to the note, Macquarie has retained its neutral rating with a heavily reduced price target of $16.20 (from $20.80).

Commenting on its neutral rating, the broker said:

Neutral, but with improving risk/reward symmetry + upside-catalyst rich FY26e. Macro tailwinds to Australian consumption balanced and growth in Peter Alexander offset by headwinds to Smiggle from trading weakness.

Catalysts: Successful launch of capital-light, points-based PA loyalty program (Oct-25), Stronger Smiggle & UK trading over Christmas (Jan-26 update), M&A using Net Cash (MRE: ~FY27E+), Smiggle leadership appointment (Untimed).

The post What’s Macquarie’s price target on Premier Investments shares? 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 positions in and has recommended Macquarie Group. The Motley Fool Australia has positions in and has recommended Macquarie Group. The Motley Fool Australia has recommended Premier Investments. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.