In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to end the week in a positive fashion. At the time of writing, the benchmark index is up 0.4% to 8,896.9 points.

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

Capstone Copper Corp (ASX: CSC)

The Capstone Copper share price is up 7.5% to $15.69. Investors have been buying this copper miner’s shares after it reported a record performance for FY 2025. Capstone Copper revealed that it achieved its annual copper production guidance for FY 2025, delivering record annual copper production of 224,764 tonnes. This was up 22% compared to FY 2024 and 37% compared to FY 2023. Capstone Copper’s CEO, Cashel Meagher, said: “2025 marked an inflection point for Capstone, with the successful execution of several key catalysts delivering transformational copper growth. For the fourth year in a row, we achieved record consolidated copper production, driving a 22% increase in output year-over-year.”

Catalyst Metals Ltd (ASX: CYL)

The Catalyst Metals share price is up 13% to $8.85. On Thursday, the gold miner released a strong quarterly update. Catalyst Metals produced 28,176 ounces of gold with an average all-in sustaining cost (AISC) of A$2,565 per ounce. Looking ahead, it has retained its FY 2026 guidance of 100,000 ounces to 110,000 ounces of gold production at an AISC of A$2,200 to A$2,650 per ounce. In response, Bell Potter retained its buy rating with a vastly improved price target of $13.50. It said: “OP mining at Trident is expected to conclude in 2HFY26, transitioning to high grade UG operations. We forecast Trident UG to reach steady state of ~50kozpa by 2027. These five mines are to underpin CYL’s 10-year ~200kozpa strategy, which we forecast to be achieved by FY29.”

DroneShield Ltd (ASX: DRO)

The DroneShield share price is up 8% to $4.41. After the market close on Thursday, the counter drone technology company revealed that it has been selected for the Australian Government’s Project LAND 156 C-sUAS Services Standing Offer Panel. It notes that the Panel arrangement enables Defence to procure DroneShield’s counterdrone services through selective and limited tender. The company’s CEO, Oleg Vornik, said: “We welcome the opportunity to support Defence through this Panel arrangement and stand ready to deliver battle-proven, software-defined C-sUAS solutions.”

Wildcat Resources Ltd (ASX: WC8)

The Wildcat Resources share price is up 3.5% to 45 cents. This follows the release of the lithium developer’s quarterly update. It advised that during the quarter, it advanced its Pilbara lithium portfolio through continued exploration success and development progress. This includes drilling at the Bolt Cutter Central Lithium Project, 10km west of Tabba Tabba, which expanded a large, stacked spodumene-bearing pegmatite system that remains open. Diamond drilling is planned for early 2026.

The post Why Capstone Copper, Catalyst Metals, DroneShield, and Wildcat shares are rising today appeared first on The Motley Fool Australia.

More reading

• Up 555% in a year. Is Droneshield the ASX’s hottest stock or the riskiest?
• Buy, hold, sell: Catalyst Metals, NRW, and Paladin Energy shares
• Guess which ASX copper stock is jumping 7% on record results
• Guess which surging ASX All Ords lithium share is smashing the benchmark again today
• $10,000 invested in WIRE ETF a year ago is now worth…

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 DroneShield. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Droneshield Ltd (ASX: DRO) has been one of the most talked-about stocks on the ASX. The counter-drone specialist has delivered huge gains for investors, but after another update and a soaring valuation, some hard questions are starting to surface.

The Droneshield share price is up around 555% over the past 12 months and is climbing another 8.09% to $4.41 in today’s afternoon trade. At current levels, the company is valued at almost $4 billion, which puts it firmly among the ASX’s larger defence technology plays.

So, is the stock now priced too high? Let’s find out.

A fresh defence boost

After market close on Thursday, Droneshield announced it had been selected for the Australian Government’s Project LAND 156 Line of Effort 3 panel.

This panel allows Defence to procure counter-drone services more easily over the coming years. It also creates a pathway for future work across defence sites in Australia.

That said, the update stops short of confirming any near-term revenue. No contract values were disclosed, no sales were locked in, and no orders were guaranteed. In essence, the latest release represents a potential future opportunity for Droneshield rather than actual revenue added to its books.

Valuation reality check

This is where understanding the relationship between valuation and sales becomes important.

Droneshield generated roughly $100 million in revenue over the past year, based on recent disclosures. While this is strong growth, it is worth keeping in mind that it sits far away from a market capitalisation pushing $4 billion.

That implies investors are paying close to 40 times the company’s annual sales, which is extremely high by any standard. The business is still in a heavy investment phase, and profits and free cash flow remain limited.

As a result, the share price is being driven far more by future expectations than by past financial results.

What the chart is telling us

The stock is trading well above its long-term moving averages, and the relative strength index (RSI) is around the mid-70s, which usually signals overbought conditions. That does not mean the share price will fall straight away, but it does suggest the risk of a pullback is rising.

The short-term support sits around $3.90, with stronger support closer to $2.70. On the upside, the recent highs near $4.50 to $5 act as a key resistance zone.

Droneshield also carries a high beta, meaning it tends to move more sharply than the broader market in both directions.

Foolish bottom line

There is no doubt that Droneshield operates in a fast-growing and strategically important area. Demand for counter-drone technology is rising globally, with growing interest from governments supporting the long-term opportunity.

That said, the stock now reflects a very optimistic future. With a near $4 billion valuation and relatively modest current sales, expectations are sky-high.

If contract wins and revenue growth do not accelerate at a faster pace, the share price could struggle to justify its current level.

The post Up 555% in a year. Is Droneshield the ASX’s hottest stock or the riskiest? appeared first on The Motley Fool Australia.

More reading

• Why Capstone Copper, Catalyst Metals, DroneShield, and Wildcat shares are rising today
• Here are the top 10 ASX 200 shares today
• What’s next for the best-performing ASX 200 stock of 2025?
• Why I think CSL and DroneShield shares are buys for 2026
• Are these ASX 200 shares a buy after yesterday’s sell off?

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

US stocks have been on an amazing trajectory for three years, and top broker Morgan Stanley thinks there is more growth to come.

In its 2026 investment outlook, Morgan Stanley tips the S&P 500 Index (SP: .INX) to rise to 7,800 points by the end of the new year.

The S&P 500 closed at 6,944.47 points overnight, so the broker’s tip equates to a potential gain of 12% this year.

Serena Tang, Morgan Stanley’s Chief Global Cross-Asset Strategist, says:

There will be some bumps along the way, but we believe that the bull market is intact.

Many Aussie investors have exposure to US stocks through ASX exchange-traded funds (ETFs).

ASX ETFs are handy investment instruments, providing access to a basket of stocks in one trade for a low ongoing management fee.

Here are three examples of ETFs providing exposure to US stocks.

3 ASX ETFs invested in US stocks

iShares Core S&P 500 AUD ETF (ASX: IVV)

The IVV ETF tracks the US benchmark S&P 500, which tracks the performance of the 500 largest US companies by market capitalisation.

This provides good diversification across large caps, mid caps, and small caps, however, the big tech companies do dominate the index.

Sector representation includes 34% tech shares, 13% financials, and 11% communications.

The biggest holdings are Nvidia Corp (NASDAQ: NVDA) 8%, Apple Inc (NASDAQ: AAPL) 7%, and Microsoft Corp (NASDAQ: MSFT) 6%.

Since inception in 2000, this ASX ETF’s total returns have averaged 8.17% per annum.

In 2025, the total return was 17.88%, however, this was eroded by the stronger Australian dollar to 10.13%, as we explain here.

The management expense ratio (MER) is 0.03%.

Global X Fang+ ETF (ASX: FANG)

The Global X Fang+ ETF tracks the NYSE FANG+ Index.

This ASX ETF only invests in 10 US stocks, including six of the Magnificent Seven, plus Crowdstrike Holdings Inc (NASDAQ: CRWD), Netflix Inc (NASDAQ: NFLX), Broadcom Inc (NASDAQ: AVGO), and Palantir Technologies Inc (NASDAQ: PLTR).

Its sector representation is 60% technology, 30% communication services, and 11% consumer discretionary.

The biggest holdings are Alphabet Inc Class A (NASDAQ: GOOGL) 11%, Nvidia 11%, and Amazon.com, Inc. (NASDAQ: AMZN) 11%.

Since its inception in 2020, the Fang+ ETF’s total returns have averaged 29.5% per annum. In 2025, it returned 12.1%.

The MER is 0.35%.

Vanguard MSCI Index International Shares ETF (ASX: VGS)

VGS ETF tracks the MSCI World ex-Australia (with net dividends reinvested) AUD Index.

The VGS ETF focuses on large companies with global earnings bases.

It is exposed to 1,284 shares, and about 70% are US stocks.

Sector representation includes 28% technology, 16% financials, and 11% industrials.

The biggest holdings are Nvidia 5%, Apple 5%, and Microsoft 4%.

Since this ASX ETF’s inception in 2014, the total returns have averaged 13.6% per annum.

In 2025, the ETF returned 13.4% in AUD terms.

Its MER is 0.18%.

The post Morgan Stanley tips 12% upside for US stocks in 2026. Here are 3 ASX ETFs offering exposure appeared first on The Motley Fool Australia.

More reading

• My simple 5-share ASX retirement portfolio
• I would put $10,000 of my savings into these ETFs
• Investing in the VanEck International Quality ETF (QUAL)? Here’s what you’re really buying
• Investing in the Vangaurd International Shares ETF (VGS)? Here’s what you’re really buying
• 1 Vanguard ETF I’m buying in 2026 and holding forever

Motley Fool contributor Bronwyn Allen has positions in Vanguard Msci Index International Shares ETF and iShares S&P 500 ETF. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Alphabet, Amazon, Apple, CrowdStrike, Microsoft, Netflix, Nvidia, Palantir Technologies, and iShares S&P 500 ETF. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Broadcom and has recommended the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool Australia has recommended Alphabet, Amazon, Apple, CrowdStrike, Microsoft, Netflix, Nvidia, Vanguard Msci Index International Shares ETF, and iShares S&P 500 ETF. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

When it comes to building a retirement portfolio, I don’t think complexity is your friend.

What I look for instead is a mix of reliable income, defensive earnings, and enough growth exposure to help protect purchasing power over time. You don’t need dozens of holdings to achieve that. In fact, I think a small, carefully chosen group of investments can do the job just as well.

If I were putting together a simple retirement-style portfolio today, these are the five ASX shares I would use.

Vanguard Australian Shares High Yield ETF (ASX: VHY)

Income sits at the heart of most retirement portfolios, and that’s why I like starting with the Vanguard Australian Shares High Yield ETF.

This ETF focuses on Australian shares with higher forecast dividend yields, which means it naturally tilts toward mature, cash-generative businesses. Banks, infrastructure stocks, and large industrials tend to feature heavily, which suits an income-focused strategy. This currently includes Commonwealth Bank of Australia (ASX: CBA), APA Group (ASX: APA), and BHP Group Ltd (ASX: BHP).

What I like about the Vanguard Australian Shares High Yield ETF is that it provides diversification and isn’t relying on a single company to deliver income. Dividends can move around from year to year, but spreading that risk across a portfolio of high-yield shares makes the income stream more resilient over time.

Vanguard MSCI Index International Shares ETF (ASX: VGS)

Even in retirement, I don’t think it’s wise to rely solely on the Australian market.

The Vanguard MSCI Index International Shares ETF provides exposure to around 1,300 companies across developed markets outside Australia.

The key role the VGS ETF plays in this portfolio is growth and diversification. Australian shares are heavily weighted toward banks and resources. Global markets offer far greater exposure to technology, healthcare, and global consumer brands.

While the income from this ETF is much lower, its purpose here is long-term capital growth. That growth can help offset inflation and support portfolio longevity across a long retirement.

Transurban Group (ASX: TCL)

For individual shares, Transurban Group is one of my core income picks.

Toll roads are about as predictable as infrastructure assets get. Population growth, urban congestion, and daily commuting all support long-term traffic volumes. People may not love paying tolls, but they keep using the roads because the time savings make it worth it.

Transurban has guided to lift its distribution to 69 cents per share in FY26, up from 65 cents in FY25. At current prices, that equates to a distribution yield of around 5%. Importantly, those distributions are backed by long-dated concession assets and inflation-linked pricing.

For me, Transurban provides dependable income with defensive characteristics that suit a retirement portfolio well.

Telstra Group Ltd (ASX: TLS)

Telstra Group earns its place as another defensive income anchor.

Telecommunications are an essential service, and Telstra’s scale gives it a strong position across mobile, broadband, and enterprise services. While it isn’t a high-growth business, it does generate steady cash flow.

Telstra’s fully-franked dividend yield of around 3.9% adds income reliability, while its infrastructure assets and mobile leadership provide resilience through different economic conditions.

In a retirement portfolio, I value that consistency more than excitement.

Wesfarmers Ltd (ASX: WES)

The final holding is Wesfarmers, which adds quality and balance to the portfolio.

Wesfarmers owns a collection of leading Australian businesses, including Bunnings, Kmart, Officeworks, and Priceline. These are value brands that tend to hold up reasonably well even when consumer conditions soften.

While Wesfarmers is not the highest-yielding stock on the ASX, it has a strong history of disciplined capital allocation, balance sheet strength, and dividend growth over time. I see it as a stabiliser that also offers some long-term growth.

Why this portfolio works for retirement

This five-investment portfolio combines income, diversification, and quality without unnecessary complexity.

The VHY ETF and Transurban do the heavy lifting on income. Telstra adds defensive cash flow. Wesfarmers provides resilience and long-term compounding. The VGS ETF brings global diversification and growth.

It’s not designed to shoot the lights out. Instead, it’s built to generate reliable income while preserving and gradually growing capital across retirement.

The post My simple 5-share ASX retirement portfolio appeared first on The Motley Fool Australia.

More reading

• Morgan Stanley tips 12% upside for US stocks in 2026. Here are 3 ASX ETFs offering exposure
• I would put $10,000 of my savings into these ETFs
• These ASX shares won big last year and are still excellent buys for 2026
• Investing in the VanEck International Quality ETF (QUAL)? Here’s what you’re really buying
• How to turn ASX dividends into long-term wealth

Motley Fool contributor Grace Alvino has positions in Commonwealth Bank Of Australia, Transurban Group, and Wesfarmers. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Transurban Group and Wesfarmers. The Motley Fool Australia has positions in and has recommended Apa Group, Telstra Group, and Transurban Group. The Motley Fool Australia has recommended BHP Group, Vanguard Australian Shares High Yield ETF, Vanguard Msci Index International Shares ETF, and Wesfarmers. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Global X will pay final distributions (or dividends) for 2025 on a variety of its ASX exchange-traded funds (ETFs) today.

These include Global X Defence Tech ETF (ASX: DTEC) and Global X Semiconductor ETF (ASX: SEMI).

ASX DTEC, which returned 64% to investors last year, is benefiting from a major increase in worldwide defence spending.

This includes a commitment made last year by the 32 NATO nations to raise their spending from 2% to 5% of GDP over the next decade.

SEMI ETF, which returned 56% in 2025, is leveraging the artificial intelligence (AI) investment theme, as the world’s next generation of innovative technology will require semiconductors to power it.

How much will Global X ETF investors receive?

We have summarised the dividend amounts and dividend reinvestment prices (DRPs), rounded to two decimal places.

ASX ETF name	Distribution amount	DRP price
Global X Australia 300 ETF (ASX: A300)	23.74 cents per unit	$50.71 per unit
Global X Uranium ETF (ASX: ATOM)	2.51 cents per unit	$22.87 per unit
Global X S&P/ASX 200 Covered Call Complex ETF (ASX: AYLD)	22.24 cents per unit	$10.03 per unit
Global X Australian Bank Credit ETF (ASX: BANK)	2.77 cents per unit	$9.97 per unit
Global X Defence Tech ETF (ASX: DTEC)	1.53 cents per unit	$17.40 per unit
Global X EURO STOXX 50 ETF (ASX: ESTX)	34.48 cents per unit	$111.98 per unit
Global X S&P World ex Australia GARP ETF (ASX: GARP)	4.07 cents per unit	$12.87 per unit
Global X Australia ex Financial & Resources ETF (ASX: OZXX)	8.96 cents per unit	$10.50 per unit
Global X US Infrastructure Development ETF (ASX: PAVE)	2.40 cents per unit	$12.57 per unit
Global X Nasdaq 100 Covered Call Complex ETF (ASX: QYLD)	1.91 cents per unit	$11.39 per unit
Global X Semiconductor ETF (ASX: SEMI)	3.51 cents per unit	$23.27 per unit
Global X US 100 ETF (ASX: U100)	3.48 cents per unit	$16.59 per unit
Global X USD High Yield Bond (Currency Hedged) ETF (ASX: USHY)	12.53 cents per unit	$10.56 per unit
Global X USD Corporate Bond (Currency Hedged) ETF (ASX: USIG)	12.48 cents per unit	$9.68 per unit
Global X US Treasury Bond (Currency Hedged) ETF (ASX: USTB)	7.16 cents per unit	$9.27 per unit
Global X S&P 500 Covered Call Complex ETF (ASX: UYLD)	2.75 cents per unit	$11 per unit
Global X Copper Miners ETF (ASX: WIRE)	6.21 cents per unit	$22.02 per unit
Global X S&P/ASX 200 High Dividend ETF (ASX: ZYAU)	11.34 cents per unit	$9.68 per unit
Global X S&P 500 High Yield Low Volatility ETF (ASX: ZYUS)	13.70 cents per unit	$14.28 per unit

The post Own DTEC or SEMI ETFs? Here’s why it’s a big day for you appeared first on The Motley Fool Australia.

More reading

• $10,000 invested in WIRE ETF a year ago is now worth…
• 3 ASX ETFs that returned 32% to 64% in 2025
• Which ASX defence ETF performed best in 2025?
• 2 incredible ASX shares to buy in January
• Global X announces dividends for DTEC, WIRE and other ASX ETFs

Motley Fool contributor Bronwyn Allen has positions in Global X Copper Miners ETF. 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.

If you’ve been buying BHP Group Ltd (ASX: BHP) and Rio Tinto Ltd (ASX: RIO) shares you’ll have little to complain about this past year.

That’s because shares in both S&P/ASX 200 Index (ASX: XJO) mining giants hit one-year-plus highs earlier in January.

In late morning trade on Friday, BHP shares are giving back some of those gains, down 0.8% at $49. Despite that slip, the BHP share price remains up 22.6% over 12 months. Atop those capital gains, BHP shares also trade on a fully-franked 3.5% trailing dividend yield.

Rio Tinto shares are heading the other way today, up 0.8% and trading for $148.36 apiece. This sees the mining stock up 24% since this time last year. Rio Tinto shares trade on a fully-franked trailing dividend yield of 4%.

Now, here’s how Australia’s biggest miners aim to improve shareholder returns in the long term by partnering up in Western Australia.

BHP and Rio Tinto shares cooperating?

On Thursday, the ASX 200 miners released a joint announcement revealing that they’ve agreed to work together in the Pilbara. The companies will join forces to extract up to 200 million tonnes of iron ore at their neighbouring Yandicoogina and Yandi iron ore operations.

Rio Tinto shares closed up 0.4% on Thursday, while the BHP share price jumped 2.6%.

The companies inked two non-binding Memoranda of Understanding. These will explore the potential for them to collaborate on developing Rio Tinto’s Wunbye deposit. The non-binding agreements also would see BHP supply its Yandi Lower Channel Deposit ore to Rio Tinto for processing at its existing wet plants, under agreed commercial terms.

It’s not the first time the two mining giants have worked together.

In 2023, Rio Tinto and BHP agreed to mine the Mungadoo Pillar. This allowed them to mine ore from their shared tenure boundary that was inaccessible prior to their cooperation.

What did management say?

Commenting on the collaboration that could support Rio Tinto shares longer term, Rio Tinto Iron Ore CEO Matthew Holcz said:

By working smarter, we can better leverage existing infrastructure to unlock additional production with minimal capital requirements. Together we will extend the life of these operations, create additional value, and further support Western Australian jobs and local communities.

BHP WA Iron Ore Asset President Tim Day added:

This is a clear example of productivity in action, unlocking new opportunities by making the most of our existing resources. By sharing our expertise and infrastructure we will create new value and deliver benefit to our people, partners, customers and communities.

Subject to a final investment decision, the ASX 200 miners expect first ore from both deposits in the early 2030s.

The post Buying BHP and Rio Tinto shares? Here’s how the ASX mining giants are partnering up appeared first on The Motley Fool Australia.

More reading

• Mining momentum: 2 ASX stocks that could surprise investors this January
• $10,000 invested in WIRE ETF a year ago is now worth…
• Here are the top 10 ASX 200 shares today
• Fortescue shares vs. BHP: Which delivered superior returns in 2025?
• Why BHP, BlueScope, Catalyst Metals, and Ryman shares are storming higher 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 recommended BHP Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

IperionX Ltd (ASX: IPX) is back in the spotlight today after unveiling a significant funding and supply win from the US government.

Shares in the advanced materials company are trading 2.58% higher at $7.17 in late morning trade. That extends a powerful rally which has now seen the stock surge around 32% over the past month.

So, what did the company announce?

Fresh support from the US government

According to the release, IperionX confirmed it has received the final US$4.6 million tranche of funding under a previously announced US government award.

The funding comes through the US Department of War’s Industrial Base Analysis and Sustainment program, which aims to strengthen domestic supply chains for critical materials.

Importantly, this latest payment completes a total US$47.1 million funding package that has been progressively awarded to support the company’s titanium manufacturing strategy in the United States.

Management said the funds will be used to help scale up production capacity at its titanium manufacturing campus in Virginia, with planning, design, and long lead-time equipment activities already underway.

Free feedstock supports cost control

Alongside the funding, the US government has also transferred around 290 metric tonnes of high-quality titanium alloy scrap to the company at no cost.

At current operating levels, management estimates the material represents roughly 1.5 years’ worth of titanium feedstock. Free feedstock lowers costs and reduces supply risk for IperionX.

It also reinforces the strategic importance of the company’s technology and assets within the US defence and advanced manufacturing ecosystem.

Why this matters for the bigger picture

Titanium is a critical material used across defence, aerospace, space, additive manufacturing, and advanced industrial applications.

The US government has made no secret of its desire to reduce reliance on imported titanium and establish secure domestic supply chains.

That backdrop helps explain why funding is being directed toward domestic producers with scalable, low-carbon technology. It also puts pressure on companies to prove they can deliver reliable supply at competitive cost.

Foolish Takeaway

With the share price already well up over the past year, now up roughly 60%, today’s move suggests the update has been taken positively by the market.

That said, after a strong run, the stock looks priced for good news in the near term. While the longer-term opportunity remains, I would be inclined to wait for a pullback before getting involved, rather than chasing momentum at current levels.

As always, with any emerging industrial technology company, there is still an execution risk, and volatility should be expected along the way.

The post This ASX stock just scored a US government win. Here’s the details appeared first on The Motley Fool Australia.

More reading

• Here are the top 10 ASX 200 shares today
• Here are the top 10 ASX 200 shares today
• Here are the top 10 ASX 200 shares today
• Here are the top 10 ASX 200 shares today

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

Monadelphous Group Ltd (ASX: MND) shares have been smashing the market over the past 12 months.

During this time, the ASX 200 stock has risen over 100% to currently trade at $29.72.

Despite this incredible rise, this diversified services company has just received an upgrade from analysts at Bell Potter.

Let’s see what the broker is saying about this high-flying stock.

What is the broker saying?

Bell Potter has been impressed with the company’s performance in FY 2026. It highlights that Monadelphous has won significantly more contracts than it was expecting.

Commenting on recent developments, the broker said:

Since we last published in November 2025, MND has maintained its robust contract award momentum, securing work packages (EC and M&I) valued at ~$835m, taking FY26TD contract award value to ~$1,400m (compared with ~$1,550m in the pcp). Notable contract awards include: the ~$250m multidisciplinary construction work package for Rio Tinto’s Brockman Syncline 1 iron ore development (awarded 22 December 2025); and the $300m 5-year maintenance services contract with Rio Tinto for its iron ore operations in the Pilbara region, WA (awarded 14 January 2026).

Given EC and M&I contract terms are generally greater than one year, we anticipate progressively larger annual contract awards over FY24 to FY26TD to imply a positive revenue growth trajectory over FY26-28. For context, MND was awarded contracts valued at ~$1,650m in FY23, $2,090m in FY24, $2,280m in FY25 and $1,405m in FY26TD (~$2,600m annualised).

ASX 200 stock upgraded

According to the note, in response to these contract wins, Bell Potter has lifted its earnings estimates through to FY 2028.

This has seen the broker upgrade its shares to a buy rating with an improved price target of $33.00 (from $24.00).

Based on its current share price of $29.72, this implies potential upside of 11% for investors over the next 12 months.

In addition, Bell Potter is expecting a dividend yield of approximately 3% in FY 2026 from the ASX 200 stock, which boosts the total potential return to 14%.

Commenting on its buy recommendation, the broker said:

MND’s contract award streak has exceeded our expectation, reflecting a stronger development pipeline in the Mining and Energy sectors than we had anticipated. We believe MND has won more than its fair share of work, reinforcing the company’s position as a market leader with robust blue chip customer relationships. Importantly, MND’s current orderbook builds a strong foundation for earnings growth in the near-term that is not reflected in consensus expectations.

The post Why Bell Potter just upgraded this smashing ASX 200 stock appeared first on The Motley Fool Australia.

More reading

• 5 things to watch on the ASX 200 on Friday
• Why EBR Systems, Endeavour, Monadelphous, and Neuren shares are racing higher today
• A fourth contract win in under a month has this ASX 200 company’s shares at a new record high
• Monadelphous secures $300m Rio Tinto contract
• Buy, hold, sell: ANZ Bank, Monadelphous, and Northern Star shares

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.

There are a lot of ASX shares to choose from on the Australian share market.

To narrow things down, let’s take a look at three shares that brokers have just given their verdicts on. They are as follows:

Catalyst Metals Ltd (ASX: CYL)

This gold miner’s performance in the first half of FY 2026 has gone down well with analysts at Bell Potter.

In response to its quarterly update, the broker has retained its buy rating with an improved price target of $13.50.

Commenting on its quarter, Bell Potter said:

CYL delivered record quarterly production from Plutonic, sourcing ore from three operations: Plutonic, Plutonic East, and Trident OP. K2 is slated as the fourth mine, with higher-grade ore expected before 30 June 2026. Development of Old Highway the fifth mine, progressed with key approvals; we model first production in 2HFY27, contributing ~35kozpa at steady state. OP mining at Trident is expected to conclude in 2HFY26, transitioning to high grade UG operations. We forecast Trident UG to reach steady state of ~50kozpa by 2027. These five mines are to underpin CYL’s 10-year ~200kozpa strategy, which we forecast to be achieved by FY29.

NRW Holdings Limited (ASX: NWH)

Over at Morgans, its analysts have been looking at this contract services provider’s shares.

The broker sees value in the company’s shares at current levels and believes there is scope for a re-rating. As a result, it has put an accumulate rating and improved price target of $6.00 on its shares. It said:

In our view, NWH has scope to re-rate to 11x FY26/27 EBIT in the near term. The company’s relative valuation has lagged the sector following a challenging FY25, marked by cash collection issues, an unexpected CFO transition, material weather disruptions in QLD, and a weak met coal market. With the exception of weather – which remains inherently difficult to forecast – these issues are in the rear-view mirror. We expect a strong 1H26, with demand indicators suggesting that earnings momentum will extend into 2H26.

Our FY26 EBITA forecast has been upgraded to near the top of the guidance range of $260-265m, which translates to +26% EPS growth. We view guidance as conservative, though we remain within the range given weather risk in 2H. We lift our price target to $6.00 (from $4.50) and maintain our Accumulate recommendation.

Paladin Energy Ltd (ASX: PDN)

Bell Potter remains positive on this ASX uranium share. It has retained its buy rating and lifted its price target to $12.50.

The broker believes that Paladin Energy is entering a stable period and highlights that the Patterson Lakes South project is being largely overlooked by the market. It said:

Our target price is increased to $12.50/sh (previously $11.35/sh) on adjustments to our production, sales and costs outlook. PDN is entering a period of relative stability, with rising uranium spot and term prices. As LHM production steadies, the market should gain comfort around performance. We believe the market is ascribing very little value to Patterson Lakes South (PLS), which provides upside as the project is de-risked. EPS changes in this report are: FY26 -69%, FY27 -29% and FY28 -6%.

The post Buy, hold, sell: Catalyst Metals, NRW, and Paladin Energy 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 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.

Capstone Copper Corp (ASX: CSC) shares are having a strong finish to the week.

In morning trade, the ASX copper stock is up 7% to $15.64.

Why is this ASX copper stock jumping?

Investors have been buying this copper miner’s shares after it released a strong production update.

According to the release, on a consolidated basis, Capstone Copper achieved its annual copper production guidance for FY 2025, delivering record annual copper production of 224,764 tonnes.

It notes that consolidated copper production increased by 22% compared to FY 2024 and by 37% compared to FY 2023. This was driven by the ramp-up of the Mantoverde Development Project (MVDP) and the Mantos Blancos debottlenecking project.

For the fourth quarter of FY 2025, the ASX copper stock also achieved record quarterly consolidated copper production of 58,273 tonnes. Management revealed that both Mantoverde and Mantos Blancos delivered record production during the quarter. This was supported by Pinto Valley achieving its strongest quarter of production during 2025 and a solid performance from Cozamin. The latter delivered its third year in a row of increased annual copper production.

Commenting on its performance, the ASX copper stock’s president and CEO, Cashel Meagher, said:

2025 marked an inflection point for Capstone, with the successful execution of several key catalysts delivering transformational copper growth. For the fourth year in a row, we achieved record consolidated copper production, driving a 22% increase in output year-over-year. 2025 consolidated copper production of 224,764 tonnes finished within our guidance range, as we navigated ramp-ups at our two mines in Chile and a severe drought in central Arizona.

During 2025, we delivered a number of milestones supporting our growth trajectory, including sanctioning construction of the Mantoverde Optimized Project, announcing a partner for the Santo Domingo Project, reporting strong results from the first phase of a new exploration program initiated in the Mantoverde-Santo Domingo district, and completing our balance sheet re-financing strategy. In 2026, we are focused on disciplined execution and reliable results, positioning the Company for its next phase of value-accretive growth.

Strike action

The ASX copper stock also provided an update on the union strike at Mantoverde.

Unfortunately, Union #2 currently remains on strike. However, the Mantoverde operation has been able to continue to operate successfully since the initiation of the strike, with copper production maintained at approximately 75% of normal levels to date.

It notes that it “will continue to comply with all applicable legal processes, respect the rights of all its employees, encourage constructive engagement with the union, and cooperate fully with the relevant authorities by providing any requested information.”

The post Guess which ASX copper stock is jumping 7% on record results 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.