The Australian Foundation Investment Co Ltd (ASX: AFI) share price is in focus today after posting a half-year profit after tax of $147.0 million, down 4.6% compared to the same time last year. Revenue from operating activities dipped 2.8% to $168.7 million, with lower investment income despite special dividends from some holdings.

What did Australian Foundation Investment Company report?

• Profit after tax: $147.0 million, down 4.6% from $154.2 million last year
• Revenue from operating activities: $168.7 million, down 2.8%
• Investment income: $160.6 million, compared to $166.3 million in the prior period
• Interim dividend: 12.0 cents per share, fully franked, unchanged from last year
• Special dividend: 2.5 cents per share, fully franked
• Portfolio return for 6 months: negative 2.0% (including franking)

What else do investors need to know?

The board has announced both an interim and a special dividend for shareholders, using a solid franking credit balance built up over recent years. While overall dividend income fell—mostly due to smaller payouts from companies like BHP, Woodside and Woolworths—certain blue-chip holdings such as ARB and Wesfarmers paid special dividends during the half.

AFIC adjusted its portfolio by trimming positions in overvalued holdings like Wesfarmers and Commonwealth Bank and added to Telstra, Woolworths, and Sigma Healthcare. The portfolio return lagged the S&P/ASX 200 Accumulation Index, reflecting underperformance from some of its larger holdings and less exposure to strongly performing small and mid-cap resource stocks.

What’s next for Australian Foundation Investment Company?

Looking ahead, the company intends to maintain its approach of investing in high-quality businesses to deliver consistent returns and dividends. Management remains cautious due to elevated market valuations and ongoing economic uncertainty but continues to look for opportunities in undervalued sectors and quality companies.

The board is also aiming to pay another fully franked special dividend with the full-year result in July. Directors plan to revisit capital management strategies, considering franking credit balances and market conditions.

Australian Foundation Investment Company share price snapshot

Over the past 12 months, the Australian Foundation Investment Company shares have declined 6%, trailing the S&P/ASX 200 Index (ASX: XJO) which has risen 5% over the same period.

View Original Announcement

The post Australian Foundation Investment Company shares: Half-year profit slips, dividends held steady appeared first on The Motley Fool Australia.

More reading

• Westgold Resources doubles cash build and sets new production record in Q2 FY26
• Beach Energy shares: quarterly revenue drops, Waitsia ramps up
• Ampol share price in focus as ACCC refers EG Australia acquisition to Phase 2 review
• Vault Minerals delivers strong gold production and cash flow in December quarter
• Paladin Energy lifts uranium output and sales in December quarter

Motley Fool contributor Laura Stewart 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 article was prepared with the assistance of Large Language Model (LLM) tools for the initial summary of the company announcement. Any content assisted by AI is subject to our robust human-in-the-loop quality control framework, involving thorough review, substantial editing, and fact-checking by our experienced writers and editors holding appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content published by The Motley Fool Australia.

The Vault Minerals Ltd (ASX: VAU) share price is in focus today as the company released its December 2025 quarterly activities report, highlighting group gold production of 76,520 ounces and a $12 million underlying free cash flow for the quarter.

What did Vault Minerals report?

• Gold production of 76,520 ounces for the December quarter; YTD production of 168,607 ounces
• Gold sales of 77,798 ounces at an average realised price of A$4,582/oz; YTD sales of 169,274 ounces at A$4,508/oz
• All-in Sustaining Cost (AISC) of A$3,160/oz for the quarter; YTD AISC of A$2,865/oz
• Quarter-end cash and bullion balance of $537 million (excluding $45 million of gold in circuit and concentrate)
• Quarterly underlying free cash flow of $12 million; $5 million spent on share buybacks
• Growth capital expenditure of $82 million, primarily for KoTH plant expansion and Deflector mining fleet acquisition

What else do investors need to know?

The company remains on track with the Stage 1 expansion of the King of the Hills (KoTH) processing plant, expected to integrate by the end of March, with throughput ramping up throughout the final quarter of FY26. Transition to owner-operator mining at Deflector is progressing well, with the fleet ramp-up on schedule for steady state production in Q4.

Vault made significant progress with exploration and resource definition at Leonora, Mount Monger, and Deflector, aiming to extend mine lives and improve mill grades. Drilling at the TT8 target near Sugar Zone will commence in Q3, pending receipt of permits.

The company settled all gold forward sales contracts for the second half of FY26 and is now materially unhedged, providing full exposure to current gold prices. The share buy-back program saw 1.02 million shares repurchased during the quarter, with more capacity set aside for future periods.

What did Vault Minerals management say?

Managing Director Luke Tonkin said:

Our strong results this quarter demonstrate the benefits of our diversified portfolio and commitment to building long-term value. As our major investments in processing and fleet upgrades near completion, we are well positioned to deliver increased free cash generation and capitalise fully on the gold price.

What’s next for Vault Minerals?

Vault reiterated its FY26 group production guidance of 332,000 to 360,000 ounces with a clear pathway to growth. As capital projects at KoTH and Deflector progress, the business anticipates a step change in operational performance from the second half of FY26, with a targeted ~11% lift in gold production by FY28.

Ongoing exploration across key regions is expected to underpin extended mine lives and further production growth. The upcoming period will also see updates from the Leonora drilling program and commencement of drilling at new Deflector and Sugar Zone targets.

Vault Minerals share price snapshot

Over the past 12 months, Vault Minerals shares have risen 153%, strongly outperforming the S&P/ASX 200 Index (ASX: XJO) which has climbed 5% over the same period.

View Original Announcement

The post Vault Minerals delivers strong gold production and cash flow in December quarter appeared first on The Motley Fool Australia.

More reading

• Paladin Energy lifts uranium output and sales in December quarter
• Lynas Rare Earths reports 43% sales growth, CEO to retire
• Evolution Mining posts record cash flow in December quarter
• Rio Tinto posts strong 2025 Q4 production results
• Meridian Energy reports record hydro inflows and rising customer growth

Motley Fool contributor Laura Stewart 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 article was prepared with the assistance of Large Language Model (LLM) tools for the initial summary of the company announcement. Any content assisted by AI is subject to our robust human-in-the-loop quality control framework, involving thorough review, substantial editing, and fact-checking by our experienced writers and editors holding appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content published by The Motley Fool Australia.

Light & Wonder Inc (ASX: LNW) shares started the year with a bang, surging sharply earlier this month before momentum fizzled out just as quickly.

The ASX gaming stock finished 2.9% lower at $174.37 on Tuesday, but Light & Wonder shares are still 19% up for the year.

However, the sudden pause has left investors wondering whether this was the start of a genuine comeback or just another false start.

Settled litigation

The initial rally wasn’t hard to explain. After months under a legal cloud, Light & Wonder finally put a long-running dispute with rival Aristocrat Leisure Ltd (ASX: ALL) behind it. This removed a major uncertainty that had weighed heavily on sentiment around Light & Wonder shares.

Markets love clarity, and investors wasted little time pricing in a lower risk profile and a clearer path forward. Add improving profitability and solid cash generation, and Light & Wonder shares suddenly looked far more investable than they had late last year.

Solid fundamentals

But rallies driven by relief can lose steam quickly, and that’s exactly what seems to have happened. With the legal issue resolved, attention has shifted back to fundamentals, and they’re solid, but not spectacular enough to keep buyers piling in at higher prices.

Light & Wonder’s core appeal remains intact. The company sits at the intersection of traditional gaming machines and faster-growing digital and iGaming segments. Management has been steadily lifting the share of recurring revenue, which helps smooth earnings and improve margins over time.

Recent results have shown expanding profitability, decent free cash flow, and enough balance sheet strength to keep buybacks ticking over, which provides a level of support for the share price.

Fierce competition, meaningful debt

That said, there are reasons for caution. Revenue growth has been uneven across divisions, with some digital segments struggling to find momentum. Competition is fierce, particularly from well-capitalised rivals also chasing growth in online gaming.

The company also still carries meaningful debt, which limits flexibility if trading conditions soften. And after a strong bounce, valuation no longer looks as compelling as it did at the lows.

What’s next for Light & Wonder shares?

This helps explain why the rally of Light & Wonder shares has stalled. The market appears to be waiting for proof that earnings growth can accelerate, not just stabilise. Without a fresh catalyst or a clear upside surprise in upcoming results, enthusiasm has cooled.

Analyst views are mixed but generally constructive. Expectations for dramatic short-term gains have been tempered. The consensus seems to be that upside remains, but it will likely come through steady execution rather than another sharp rally.

The most optimistic market watcher sees a 41% upside at $246.19 at the time of writing. However, the average target price for the next 12 months is much lower at $190.21, with a potential upside of 9%.

The post Is it still game on for Light & Wonder shares? appeared first on The Motley Fool Australia.

More reading

• 4 ASX 200 stocks smashing the benchmark this week
• Where to invest $10,000 in ASX 200 shares this month
• Here are the top 10 ASX 200 shares today
• Why Develop Global, Imricor Medical, Light & Wonder, and PWR shares are storming higher today
• Light & Wonder shares leap 25% on $190 million legal breakthrough with Aristocrat Leisure

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

The Paladin Energy Ltd (ASX: PDN) share price is in focus today after the company posted strong quarterly growth, with uranium production up 16% to 1.23 million pounds (Mlb) and sales volumes more than doubling to 1.43Mlb.

What did Paladin Energy report?

• U₃O₈ production of 1.23Mlb for the quarter, up 16% from Q1
• Sales of 1.43Mlb U₃O₈, up from 0.53Mlb last quarter
• Average realised price of US$71.8 per pound, higher than the previous quarter’s US$67.4
• Cost of production fell to US$39.7 per pound
• Unrestricted cash and investments of US$278.4 million at quarter end
• Full-year production expected at the upper end of 4.0–4.4Mlb U₃O₈ guidance

What else do investors need to know?

Paladin Energy’s ramp up at the Langer Heinrich Mine in Namibia remains on track, with full operational status planned for the end of FY2026 and full mining and processing in FY2027. Higher ore feed grades and recovery rates have contributed to the improved production numbers.

The company completed a major debt facility restructure during the quarter, reducing overall debt capacity but increasing financial flexibility, and closed the period with additional liquidity from a share purchase plan that raised A$100 million. There were also some boardroom changes, with new President Paladin Canada and COO appointments, strengthening leadership.

Paladin also advanced Canadian project activity, including exploration at the Patterson Lake South (PLS) and Michelin Projects, and continued the permitting process for PLS. Meanwhile, a class action filed against the company is proceeding, but Paladin maintains it will vigorously defend the claim.

What did Paladin Energy management say?

Managing Director and Chief Executive Officer Paul Hemburrow said:

As global interest in nuclear energy continues to strengthen, I am delighted by our progress in ramping-up operations at Langer Heinrich Mine. The new level of production achieved during the quarter provides insight into the robust performance that can be achieved from this strategic uranium asset. Our site team’s goal is to continue delivering a consistent operational performance for the remainder of this financial year.

What’s next for Paladin Energy?

Paladin is aiming for Langer Heinrich Mine to reach its full mining and processing run rate by the end of FY2026. Full-year guidance for U₃O₈ production is now expected at the higher end of the 4.0–4.4Mlb range, provided ramp-up continues smoothly.

Canadian exploration at the PLS and Michelin projects will progress, with a resource expansion drill program kicking off in early 2026. Management says ongoing financial flexibility and a strong contract book should help support further growth in uranium markets.

Paladin Energy share price snapshot

Over the past 12 months, Paladin Energy shares have risen 39%, outperforming the S&P/ASX 200 Index (ASX: XJO) which has risen 5% over the same period.

View Original Announcement

The post Paladin Energy lifts uranium output and sales in December quarter appeared first on The Motley Fool Australia.

More reading

• Vault Minerals delivers strong gold production and cash flow in December quarter
• Lynas Rare Earths reports 43% sales growth, CEO to retire
• Evolution Mining posts record cash flow in December quarter
• Rio Tinto posts strong 2025 Q4 production results
• Meridian Energy reports record hydro inflows and rising customer growth

Motley Fool contributor Laura Stewart 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 article was prepared with the assistance of Large Language Model (LLM) tools for the initial summary of the company announcement. Any content assisted by AI is subject to our robust human-in-the-loop quality control framework, involving thorough review, substantial editing, and fact-checking by our experienced writers and editors holding appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content published by The Motley Fool Australia.

Qoria Ltd (ASX: QOR) shares had a tough session on Tuesday.

The cyber safety products and services provider’s shares crashed deep in the red following the release of its quarterly update.

Has this ASX stock’s pullback created a buying opportunity for investors? Bell Potter thinks this is the case.

What is the broker saying?

Bell Potter highlights that Qoria’s quarterly update was a touch short of expectations, partly due to negative foreign exchange (FX) impacts on its annualised recurring revenue (ARR). It said:

Q2 exit ARR of $150m was 4% below our forecast of $156m but there was a negative FX impact of $5m which was more than we anticipated. Cash receipts of $32.8m in Q2 was also modestly below our forecast of $33.9m but the growth in H1 of 20% was consistent with the guidance. Net operating cash flow of $4m was $6m below our forecast of $10m and the miss was driven by the lower receipts than forecast as well as higher advertising and marketing.

The broker also points out that the ASX stock has reiterated its ARR, margin, and cash flow guidance for FY 2026. Though, it concedes that this is based on exchange rate assumptions that differ to spot rates. It adds:

Qoria reiterated its FY26 guidance of revenue >$145m, ARR growth >20%, adjusted EBITDA margin >30% and positive free cash flow for the full year. The revenue, ARR and EBITDA margin guidance, however, is all based on assumed FX rates of $0.64 for AUD/USD and $0.48 for AUD/GBP. Spot rates have been higher than these levels for most of FY26 – particularly the last couple of months – so there is likely to be a negative FX impact in FY26 – as there was in Q2 – unless the AUD weakens in H2.

In light of this, the broker believes the ASX stock will fall short of its ARR guidance and has downgraded its estimates. It said:

We have downgraded our FY26, FY27 and FY28 revenue forecasts by 4%, 5% and 6% which has largely been driven by higher AUD exchange rates relative to the USD and GBP. We now forecast FY26 revenue of $141m relative to the guidance of $145m+. The downgrades in revenue have led to downgrades in our adjusted EBITDA forecasts of 9% in each of FY26, FY27 and FY28. We now forecast an FY26 adjusted EBITDA margin of 20.1% compared to 21.3% previously.

Should you buy this ASX stock?

Despite the above, Bell Potter is urging investors to buy this ASX stock while it is down in the dumps.

According to the note, its analysts have retained their buy rating on Qoria’s shares with a trimmed price target of 75 cents (from $1.00).

Based on its current share price of 41 cents, this implies potential upside of 83% for investors over the next 12 months.

Commenting on its buy recommendation, the broker said:

We have rolled forward our EV/Revenue valuation a year and now apply a 6x multiple to forecast FY27 revenue. We have also increased the risk-free rate we apply in the DCF from 4.25% to 4.5% and this has increased the WACC we apply from 8.8% to 9.1%. The net result of these changes and the downgrades is a 25% decrease in our PT to $0.75 which is >15% premium to the share price so we maintain the BUY rec.

The post Bell Potter says this ASX stock can rebound 80% after its selloff appeared first on The Motley Fool Australia.

More reading

• Why 4DMedical, ARB, Inghams, and Qoria shares are tumbling today

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.

Smaller S&P/ASX All Ordinaries Index (ASX: XAO) shares can be contenders for delivering big returns.

It’s not unusual for smaller businesses to trade at a much lower valuation than they would if they were larger, because so few analysts and fund managers cover them, leading to undervaluation.

The valuations of the two businesses below make them appealing, in my view, as long-term buys.

Australian Ethical Investment Ltd (ASX: AEF)

Australian Ethical is a fund manager that aims to provide investors with exposure to investments that have a high level of ‘ethics’ by excluding certain sectors from its investment strategy.

A key reason why I believe the company has such a good outlook is that it has a superannuation offering, which is benefiting from the ongoing contributions from members.

The ASX All Ords share’s superannuation segment, which is where the significant majority of funds under management (FUM) sits, saw net inflows of $0.11 billion in the three months to 31 December 2025. Its total FUM was $14.08 billion at the end of 2025.  

Australian Ethical notes that it “continues to be recognised for its leadership in ethical investing, winning Money Magazine’s 2026 best of the best awards for best ESG superannuation product and best ESG pension product, reinforcing Australian Ethical’s position at the forefront of sustainable investing and highlighting the organisation’s ongoing commitment to positive impact and industry best practice.”

The ASX All Ord stock’s Managing Director, John McMurdo, recently said:

Despite challenging investment market conditions, it’s been a pleasing first half of the year. On the superannuation side, we’ve seen changes to our digital marketing capability delivering an increase in new member joins in Q2, and with the completion of our transition to GROW, we are realising cost efficiencies and can focus on uplifting the member experience to support continued growth. The solid pipeline we’ve built in our newer channels, as well as upcoming product innovation also positions us well for ongoing success and continued growth into the second half of the year.

Australian Clinical Labs Ltd (ASX: ACL)

This business describes itself as Australia’s leading private provider of pathology services. Its laboratories perform a range of tests each year for clients, including doctors, specialists, patients, hospitals, and corporate clients.

The Australian Clinical Labs share price is down by around 30% since February 2025, as the chart below shows, making it much better value. It was pleasing to see that management thought the ASX All Ords share was undervalued last year and launched a share buyback to buy up to 10% of its shares on issue.

Healthcare is a good, defensive sector to be invested in, yet the business is trading on such a low price-earnings (P/E) ratio. According to the forecast on CMC Markets, the business could generate earnings per share (EPS) of 18 cents in FY26.

That means it’s trading at 14x FY26’s estimated earnings. Analyst projections suggest the EPS could climb to 20.5 cents in FY27 and then 22 cents in FY28. That implies earnings could climb 22% between FY26 to FY28. The dividend is also expected to grow in the next few years to 15 cents per share in FY28.

The post 2 ASX All Ords shares I’d buy today appeared first on The Motley Fool Australia.

More reading

• Why Australian Ethical, Northern Minerals, PLS, and Woodside shares are falling today

Motley Fool contributor Tristan Harrison has positions in Australian Ethical Investment. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Australian Ethical Investment. The Motley Fool Australia has recommended Australian Ethical Investment. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Santos Ltd (ASX: STO) shares have had a rough run. The ASX energy heavyweight is trading 22% lower over 6 months, even as it throws off a dividend yield of 6%.

For income hunters, that combination looks tempting. But does it signal a genuine buying opportunity, or just reflect the risks baked into the oil and gas cycle?

Why the share price has fallen

Santos shares have been caught in a perfect storm of softer oil and LNG prices. Investors are also nervous around large project spending, and the takeover speculation that once supported the share price has also faded.

As energy markets cooled, so did enthusiasm for the sector, dragging Santos stock lower despite its scale and cash-generating assets.

The bull case

At its core, Santos is a high-quality energy producer with long-life assets across Australia, Papua New Guinea, Timor-Leste, and the US. LNG remains the backbone of earnings, underpinned by long-term contracts that provide some insulation from short-term price swings.

The next few years could be pivotal for Santos shares. Major growth projects, including Barossa LNG and the Pikka oil project in Alaska, are nearing first production.

Once operational, they’re expected to lift output and free cash flow materially. If execution goes to plan, Santos should look like a very different business in the next few years compared with today.

More disciplined dividends

The dividend coming with Santos shares is another key attraction. Santos has shifted towards a clearer capital return framework, aiming to pay out a substantial share of free cash flow to shareholders.

At current prices, the yield of 5.96% is well above the broader market, making Santos shares appealing to income-focused investors willing to tolerate volatility. However, Santos’ dividend history hasn’t been perfectly smooth. Payouts have been cut in weaker cycles and lifted again when cash flows recovered.

The current policy is more disciplined, linking dividends directly to free cash flow rather than stretching the balance sheet. That makes today’s yield enticing but not guaranteed.

The risks to watch

Oil and gas prices remain the biggest swing factor. A sustained downturn in global energy markets would pressure earnings and could limit the company’s ability to maintain current dividends.

Santos is also capital-intensive. Big projects bring big rewards, but delays or cost blowouts would hurt confidence and valuation.

There’s also the long-term structural risk. As the world transitions toward cleaner energy, fossil fuel producers face increasing regulatory, political, and ESG pressure. That doesn’t make Santos shares totally unattractive, but it does cap how generously the market may value its earnings.

So, are Santos shares a buy?

If energy prices stabilise and new projects deliver as expected, Santos shares could offer a mix of solid income and meaningful share price upside from current levels.

Brokers buy into Santos’ income and growth proposition. TradingView data shows that most analysts see the $20 billion energy stock as a buy. They set the average 12-month price target at $7.33, a 20% upside at the current share price of $6.12.

The post Down 22% with 6% yield: Are Santos shares a serious buy? appeared first on The Motley Fool Australia.

More reading

• 5 things to watch on the ASX 200 on Wednesday
• 5 things to watch on the ASX 200 on Tuesday
• Is the Santos share price too cheap to ignore?
• 5 things to watch on the ASX 200 on Monday
• 5 things to watch on the ASX 200 on Friday

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 Lynas Rare Earths Ltd (ASX: LYC) share price is in focus after the company reported quarterly gross sales revenue of $201.9 million, up 43% on the prior corresponding period, and an average selling price of $85.60/kg, reflecting firmer market conditions.

What did Lynas Rare Earths report?

• Gross sales revenue of $201.9 million for Q2 FY26, compared to $200.2 million in the prior quarter
• Sales receipts of $185.0 million, up from $171.3 million in Q1 FY26
• Closing cash and short term deposits of $1,030.9 million
• Total rare earth oxide (REO) production at 2,382 tonnes, with NdPr production at 1,404 tonnes
• Cash payments for capital expenditure, exploration, and development totalled $45.2 million
• Average selling price increased to $85.60/kg across all rare earth products

What else do investors need to know?

Lynas completed major kiln maintenance at its Malaysia facility in December, with operations safely restarting in January 2026. Power supply disruptions at the Kalgoorlie plant reduced production in the quarter, but electricity supply has now stabilised.

The company made good progress on its growth projects, with commissioning of the Mt Weld expansion project completed and its new flotation circuit ramping up. December saw 92% of Mt Weld’s electricity needs met by renewable energy, exceeding targets.

Lynas also began work on expanding heavy rare earth (HRE) separation at its Malaysia operation. The first production of Samarium is forecast for Q4 FY26, and detailed engineering of the full facility is underway.

What did Lynas Rare Earths management say?

CEO and Managing Director Amanda Lacaze said:

As shareholders will be aware from the announcement released on 13 January 2026, I have advised the Board of my intention to retire from my position as CEO and Managing Director at the end of the current financial year. I have been privileged to lead this company for the past 12 years and believe this is the right time to make the transition. I remain fully committed to my role, to continuing to deliver value for shareholders, and working to ensure a smooth transition.

What’s next for Lynas Rare Earths?

Looking ahead, Lynas aims to optimise production and recoveries at its Mt Weld facility and advance its heavy rare earth separation projects in Malaysia and the United States. The company continues to develop new supply chain partnerships, particularly outside China, as part of its 2030 growth strategy.

With CEO Amanda Lacaze retiring at the end of the financial year, the board has launched a search process for her successor. Lynas is focused on ensuring a smooth leadership transition and maintaining its position as a leading supplier of rare earths.

Lynas Rare Earths share price snapshot

Over the past 12 months, Lynas Rare Earths shares have risen 122%, significantly outperforming the S&P/ASX 200 Index (ASX: XJO) which has risen 5% over the same period.

View Original Announcement

The post Lynas Rare Earths reports 43% sales growth, CEO to retire appeared first on The Motley Fool Australia.

More reading

• Vault Minerals delivers strong gold production and cash flow in December quarter
• Paladin Energy lifts uranium output and sales in December quarter
• Evolution Mining posts record cash flow in December quarter
• Rio Tinto posts strong 2025 Q4 production results
• Meridian Energy reports record hydro inflows and rising customer growth

Motley Fool contributor Laura Stewart has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Lynas Rare Earths Ltd. 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 article was prepared with the assistance of Large Language Model (LLM) tools for the initial summary of the company announcement. Any content assisted by AI is subject to our robust human-in-the-loop quality control framework, involving thorough review, substantial editing, and fact-checking by our experienced writers and editors holding appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content published by The Motley Fool Australia.

Austal Ltd (ASX: ASB) has been a booming ASX defence stock over the last 12 months. 

Its share price has soared more than 148% in the last year. 

However, shares fell 5.85% yesterday despite no price-sensitive news from the company. 

This marks a significant drop after a red-hot start to the year. 

Is it an opportunity for new investors to buy the dip?

Let’s find out. 

Defence stocks still booming

ASX defence stocks have been amongst the best-performing themes in the last 12 months. 

Investors have undoubtedly noticed the unbelievable stock price rise for Droneshield Ltd (ASX: DRO). 

This defence stock is up more than 600% in the last 12 months. 

But it isn’t alone. 

Other defence stocks that have enjoyed big gains in the last year include: 

• Electro Optic Systems Holdings Ltd (ASX: EOS) is up 794.17%
• Elsight Ltd (ASX: ELS) is up 1,163.64% 
• Vaneck Global Defence ETF (ASX: DFND) is up 79.80%
• Betashares Global Defence ETF (ASX: ARMR) is up 62.66%

These defence stocks and funds have all risen amidst global political tension and conflict. 

This has increased government investment, funding, and development of technology such as drones, AI, or electronic warfare.

Where does Austal fit into this puzzle?

Austal is an Australian-based shipbuilder that specialises in the design, construction, and support of defence and commercial vessels globally.

Austal’s products include naval vessels, defence surface warfare combatants, high-speed support vessels, law enforcement patrol boats, offshore vessels, and passenger and vehicle ferries.

It has enjoyed a red-hot 12 months, amidst the same tailwinds pushing other defence stocks higher. 

Recently, it has signed key contracts which have bolstered investor confidence and long-term outlook. 

Is it still a buy?

Despite yesterday’s sell-off, these ASX defence shares are still 18% higher year to date. 

The share price closed yesterday at $8.05. 

Based on ratings from analysts, it appears it is now priced close to fair value. 

Late last year, Macquarie had a price target of $8.10 on Austal shares. 

Meanwhile, TradingView has an average analyst target of $7.84. 

The current share price would indicate it is hovering close to fair value. 

However, for prospective investors, it is worth considering recent geopolitical events and their impact on defence shares. 

US tensions involving Greenland (Arctic security, NATO posture) and Venezuela (energy security and regional stability) could influence global defence spending and allied procurement priorities. 

These could impact defence companies through higher demand for surveillance, maritime, aerospace, and sustainment capabilities aligned with US and allied programs.

The post This sizzling ASX defence stock just fell 6% – Time to buy the dip? appeared first on The Motley Fool Australia.

More reading

• 3 ASX 200 shares that doubled in value in 2025
• These ASX 200 stocks are already up 20-30% in 2026! Are they a must buy?
• Here are the top 10 ASX 200 shares today
• Here are the top 10 ASX 200 shares today
• Aussie defence stocks tick higher on bullish Trump comments

Motley Fool contributor Aaron Bell 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, Electro Optic Systems, and 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 Evolution Mining Ltd (ASX: EVN) share price is in the spotlight after the gold and copper producer posted a record group operating mine cash flow of $1.1 billion for the December 2025 quarter, and an underlying group cash flow of $541 million, both well ahead of the previous period.

What did Evolution Mining report?

• Record operating mine cash flow of $1.1 billion, up 57% on the prior quarter
• Group net mine cash flow hit $727 million, an increase of around 100%
• December quarter gold production of 191,000 ounces and 18,000 tonnes of copper
• All-in Sustaining Cost (AISC) of $1,275 per ounce – sector leading for the quarter
• Cash balance finished at $967 million, with gearing improved to 6%
• No significant debt repayments due until November 2028

What else do investors need to know?

Evolution Mining reported another quarter of stable safety performance and continued to track in line with group production and cost guidance. Mungari operations delivered record quarterly production of 50,000 ounces, with the expanded plant now fully commissioned and set for ongoing growth.

At Ernest Henry, heavy rainfall temporarily suspended mining, but all staff were safely evacuated, and short-term operational impacts are expected. The company has also been proactive, consolidating exploration ground near Ernest Henry to support long-term growth.

What did Evolution Mining management say?

Managing Director and CEO Lawrie Conway said:

Evolution delivered another consistent quarter representing eight consecutive quarters of delivery to plan. Delivering to plan in a rising metal price environment with minimal hedging has generated record cash flow and sector-leading cost performance. Our teams continue to safely demonstrate operational discipline while also successfully progressing key growth projects. Mungari’s expanded plant and new mining hub is fully commissioned and already generating strong return on investment via record high cash flows. We continue to bank the benefits of higher metal prices, which is ultimately delivering value for shareholders.

What’s next for Evolution Mining?

Evolution has reaffirmed its FY26 production guidance of 710,000–780,000 ounces of gold and 70,000–80,000 tonnes of copper, with group AISC now improved by 6% to between $1,640 and $1,760 per ounce. Group copper production is forecast toward the lower end of the range following the weather event at Ernest Henry.

Key project studies at Cowal, Ernest Henry and Northparkes are due for Board review next quarter. Evolution’s sights remain firmly set on growing production at a lower cost while investing in exploration and asset expansion.

Evolution Mining share price snapshot

Over the past 12 months, Evolution Mining shares have risen 139%, strongly outperforming the S&P/ASX 200 Index (ASX: XJO) which has risen 5% over the same period.

View Original Announcement

The post Evolution Mining posts record cash flow in December quarter appeared first on The Motley Fool Australia.

More reading

• Vault Minerals delivers strong gold production and cash flow in December quarter
• Paladin Energy lifts uranium output and sales in December quarter
• Lynas Rare Earths reports 43% sales growth, CEO to retire
• Rio Tinto posts strong 2025 Q4 production results
• Meridian Energy reports record hydro inflows and rising customer growth

Motley Fool contributor Laura Stewart 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 article was prepared with the assistance of Large Language Model (LLM) tools for the initial summary of the company announcement. Any content assisted by AI is subject to our robust human-in-the-loop quality control framework, involving thorough review, substantial editing, and fact-checking by our experienced writers and editors holding appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content published by The Motley Fool Australia.