Block (ASX: XYZ) shares are in the red in Wednesday lunchtime trade. At the time of writing, the shares are down 6.6% are changing hands at $92.06 a piece. The stock has suffered a share price crash over the past month, dragging it down 18.39% for the period. Block shares are now 36.01% lower than this time last year.

What has happened to Block shares this year?

There has been no price-sensitive announcement out of the company recently to explain today’s share price decline. The downturn is likely a continuation of heavy selling, which followed the company’s September quarter results, released in early November.

The US-founded company, best known for providing payment-acquiring and related services to businesses, posted an 18% year-on-year profit increase for Q3. The company’s Cash App gross profit was up 24% and its Square gross profit was up 9%. 

The company also boosted its full-year 2025 guidance. Block is now forecasting US$10.243 billion in gross profit for 2025, up 15% from 2024.

While the results look impressive, its sales and earnings figures missed Wall Street’s forecasts. And while the company raised its forward guidance for annual gross profits, the improved target wasn’t enough to prevent investors from selling up.

Does the latest price crash make for a good buying opportunity?

Some analysts are concerned that the company has exposure to credit risk and could suffer as a result of volatility in consumer spending. 

But it’s important to note that Block’s core business is strong, and its Square business has continued to grow. 

Commenting on the company’s third-quarter results, CEO Jack Dorsey said:

Square GPV growth accelerated to 12% and we gained profitable market share through product innovation and expanded distribution. Cash App gross profit growth accelerated to 24%, and in September we hit 58 million Cash App monthly actives.

This quarter, I want to outline how Square will continue to take market share by being the best platform to help sellers grow, run, and automate their businesses.

Analysts are pretty bullish on Block shares, too. TradingView data shows 2 out of 3 analysts have a strong buy rating on the stock. The maximum target price is $267, which implies a massive potential 188.99% upside for investors at the time of writing. Even the minimum $105 target price represents a potential 13.64% upside for investors over the next 12 months.

The post Down 30% this year. Are Block shares finally a buy? appeared first on The Motley Fool Australia.

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• Why Block, Collins Foods, Perseus Mining, and Robex Resources shares are falling today
• Here are the top 10 ASX 200 shares today
• Why is the Block share price crashing 14% on Friday?

Motley Fool contributor Samantha Menzies has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Block. 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 up 18.4% since the 7 April one-year closing lows, with this ASX All Ords share doing a lot of the heavy lifting.

The stock in question is LGI Ltd (ASX: LGI), which focuses on recovering biogas from landfills and converting it into renewable electricity.

In early afternoon trade on Wednesday, LGI shares are down 0.2%, trading for $4.17 apiece. This sees stock in the ASX All Ords share up 61% since plumbing its own one-year closing lows on 7 April.

The company’s shares have been buoyed by strong growth.

FY 2025 revenue was up 10% year on year to $33.9 million in FY25. And earnings before interest, taxes, depreciation and amortisation (EBITDA) increased by 14% to $17.4 million.

Commenting on the company’s performance and outlook at LGI’s annual general meeting (AGM) in November, Chairman Vik Bansal said:

LGI continues to grow signing six new contracts over the period, five of these contracts are for long-term landfill gas rights, which LGI will monetise to create Australian Carbon credit units. The remaining contract is for a Battery Energy Storage System (“BESS”) to be built, owned, and operated by LGI on the closed landfill at Belrose in Northern Sydney.

Should you buy this ASX All Ords share today?

The analysts at Canaccord Genuity recently reiterated their buy rating on LGI shares.

Citing three reasons to buy the ASX All Ords share, Canaccord said, “Well-supported new equity issuance, the pull-forward of a scheduled project and the unveiling of a new leg of growth have been the highlights of recent announcements by LGI.”

The broker added, “The impacts of these activities is most easily seen in our FY28 earnings estimates, which we increase materially.”

On LGI’s equity raise and project advancement, Canaccord said:

In October 2025, LGI raised $51m of new equity via an institutional placement and a further $5m from an oversubscribed SPP, at $3.85 per share. The funds will be used to bring forward development of the Nowra project (11MW), in particular which the company now projects to begin commissioning in FY27 (we previously had assumed FY29 for this asset).

As for the new leg of growth, Canaccord noted:

The main change to LGI’s base plan to reach 56MW was confirming the identity of 11MW previously described as “other projects” but now confirmed as Nowra generation capacity (3MW) and associated batteries (8MW), with the funding enabling accelerated development with commissioning targeted in FY27.

Additionally, LGI has reported an additional pipeline of more than 25MW of new projects, which would take the portfolio beyond 80MW of installed capacity.

Connecting the dots, Canaccord increased its price target on the ASX All Ords share to $4.80, up from the prior $4.30 a share.

That represents a potential upside of more than 15% for investors buying the ASX share at current levels.

The post Up 61% since April, 3 reasons to buy this ASX All Ords share today appeared first on The Motley Fool Australia.

More reading

• Morgans names ASX small-cap stock to buy after capital raise

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 LGI Limited. 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.

Warren Buffett’s company, Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B), has consistently generated returns that far exceed those of the broader market over the six-plus decades that Buffett has led the company.

Between 1964 and 2024, Berkshire’s stock generated compound annual gains of 19.9% and a total return of 5,502,284%. Meanwhile, the S&P 500 index generated compound annual gains of 10.4%, including dividends, and a total return of 39,054%.

A major part of Berkshire’s success can be attributed to its massive $300 billion-plus equities portfolio. Berkshire invests the float it generates from premiums in its large insurance business into stocks that the company often likes to hold for many years, if not decades.

Buffett and Berkshire’s top five holdings

Needless to say, investors are always interested in what stocks the Oracle of Omaha and his team are investing in. Here then are Berkshire’s largest holdings at the end of the third quarter of the year, and the amount of the portfolio they represent:

1. Apple — 21%
2. American Express — 17.8%
3. Bank of America — 9.8%
4. Coca-Cola — 9.3%
5. Chevron — 5.9%

All of Berkshire’s top holdings are in world-renowned companies that have built sizable moats across various sectors. Berkshire first invested in Apple in 2016 and, at one point, had built the position to roughly 40% of Berkshire’s portfolio. Since then, however, Berkshire has sold a majority of its position, and I wouldn’t be surprised to see the large conglomerate exit Apple entirely over time.

Berkshire has owned American Express and Coca-Cola since the 1980s and 1990s, and these represent two of the company’s longest-held investments, likely hand-picked by Buffett.

Buffett and Berkshire used to own many traditional banks, but Bank of America is now one of the few remaining in the portfolio. Chevron is one of several energy stocks and assets that Berkshire owns. Buffett and his team appear to have a high level of long-term conviction in U.S. oil and gas, despite the sector’s recent struggles.

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

The post Here are billionaire Warren Buffett’s 5 biggest stock holdings 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.

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American Express is an advertising partner of Motley Fool Money. Bank of America is an advertising partner of Motley Fool Money. Bram Berkowitz 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 Apple, Berkshire Hathaway, and Chevron. The Motley Fool Australia has recommended Apple and Berkshire Hathaway. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Recently released figures for advertising spending show that the market continues to be tough, but that doesn’t mean money can’t be made by buying media shares.

In a research note sent to clients this week, the team at Macquarie have named their top pick in the media sector.

Even the companies Macquarie has a neutral rating on are changing hands below its price targets, meaning double-digit gains might still be on the table.

Ad spend weak in October

Macquarie said the Standard Media Index – a measure of Australian ad agency spending – showed that spending for October fell 15% compared to the same month last year, and across the first half of the year to date, spending was down 7%.

Spending in the out of home sector was down 6% for October, while free-to-air TV spending was 16% lower for the month.

Macquarie said further:

The ad market does not look to have seen the expected stabilisation during the December quarter, which generally makes up 27% of volumes. There is however some optimism into early-2026 for improvement, but without clear catalysts, noting: 1) Australia likely moving to a rate hike cycle and 2) booking visibility still short.

Macquarie said that media stocks generally underperformed when rates were rising, but it did name one company it expected to outperform, in oOh!media Ltd (ASX: OML).

For Nine Entertainment Co (ASX: NEC) and Seven West Media Ltd (ASX: SWM), the broker’s research team said they remained cautious with regard to free-to-air television advertising spending, “and the need to constantly manage costs to support earnings”.

Revenue set to increase

Positives for oOh!media included an increase in out of home spending of 9% year to date, despite the weakness in October.

Macquarie is predicting 6% year-on-year revenue growth for the company, “supported by positive 1Q26 feedback, although visibility is low, and an Australian rate hike cycle may impact growth”.

The Macquarie team have a price target of $1.45 on oOh!media shares, compared with $1.29 at the close on Tuesday.

With regard to Nine and Seven, Macquarie points out that the FTA TV market has been in structural decline for the past 10-plus years.

Looking at the fourth quarter of 2025, the expected stabilisation of total TV revenues (FTA + broadcast video on demand growth) across the industry does not seem likely as FTA declines (over 80% of volumes) continue to more than offset BVOD. During October 2025, we estimate that total volumes were down 9%-11% and November / December also looks challenging, with Nine recently commenting that ‘the total TV market remains soft and very short for the run into Christmas’.

Macquarie said for both Nine and Seven, “further cost initiatives will be paramount to protecting profitability”.

Despite not being bullish on the advertising market, Macquarie’s price targets for both shares are above current trading levels, with a target of $1.25 for Nine, against a price of $1.11 on Wednesday, and a price target of 16 cents for Seven, compared with 13.5 cents.

Seven is also currently undergoing a process to merge with Southern Cross Media Group Ltd (ASX: SXL), with the deal announced in late September.

The post Which three media companies could deliver double-digit returns? appeared first on The Motley Fool Australia.

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• Nine Entertainment flags digital growth and more cost cuts in FY26 update
• Macquarie tips 45% upside for this ASX All Ords media stock

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

The 2025 selloff has punished plenty of ASX 200 shares, but some of the hardest-hit companies also happen to be among the highest quality on the market.

Short-term uncertainty, interest rate jitters, and tech volatility have dragged down a number of blue chip and top-tier growth names, even though their long-term outlooks remain as strong as ever.

For patient investors, this could have created a compelling opportunity to buy some of the best ASX shares out there at multi-year discounts.

CSL Ltd (ASX: CSL)

CSL is one of the highest-quality businesses ever to list on the ASX, yet its shares have sunk to some of their lowest valuation levels in over a decade.

This has been driven by concerns around US tariff risks, a slower-than-expected margin recovery at CSL Behring, and uncertainty surrounding the planned Seqirus demerger.

But the fundamental story has not changed. Plasma collection volumes continue to rise, CSL’s therapy pipeline remains deep, and the company is investing heavily in US manufacturing to mitigate any tariff impacts over the long term.

It is also worth noting that major brokers still have price targets far above current levels, with many believing the market has overreacted. One of those is UBS, which has a buy rating and $275.00 price target on its shares.

TechnologyOne Ltd (ASX: TNE)

TechnologyOne is one of the ASX 200’s most reliable compounders, delivering more than 10 consecutive years of record profits. Yet, the enterprise software provider’s shares have fallen materially from their highs, dragged down by a tech correction and recurring revenue growth that was strong but just not quite as strong as some were hoping.

Nevertheless, management remains very positive and once again reiterated its expectation for the business to double in size every five years. There are not many ASX shares out there that can boast that!

This could make now an opportune time to load up on this quality tech stock. Morgan Stanley thinks it would be a good idea. The broker recently upgraded its shares to an overweight rating with a $36.50 price target.

Xero Ltd (ASX: XRO)

Finally, Xero shares have dropped heavily from their 52-week high, despite the company delivering accelerating growth across multiple geographies.

Xero now generates NZ$2.7 billion in annualised monthly recurring revenue from 4.59 million subscribers. But if you thought that was close to peaking, think again. The company estimates that the global small-business market it serves is over 100 million businesses.

As a result, Xero’s growth runway remains enormous. So, for long-term investors, Xero at a multi-year discount could be a compelling opportunity to buy a global software leader well below fair value.

Macquarie recently put an outperform rating and $230.30 price target on the ASX 200 share.

The post 3 high-quality ASX 200 shares now trading at multi-year discounts appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has positions in CSL, Technology One, and Xero. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended CSL, Macquarie Group, Technology One, and Xero. The Motley Fool Australia has positions in and has recommended Macquarie Group and Xero. The Motley Fool Australia has recommended CSL and Technology One. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

There are plenty of ASX stocks to choose from on the local bourse. So many, it can be hard to decide which ones to buy over others.

To narrow things down, let’s see what analysts are saying about the stocks listed below, courtesy of The Bull. Here’s what they are recommending:

Carma Ltd (ASX: CMA)

Analysts at Peak Asset Management think that this used vehicles platform provider’s shares could be a buy after falling heavily since their IPO.

They also highlight the appointment of the highly experience Owen Wilson as chairman as a reason to be positive. Peak said:

The company’s recent initial public offering generated much interest at $2.70 a share. But listing during the recent sharemarket rout has impacted CMA’s share price. The shares were trading at $1.70 on November 27. CMA’s online technology platform involves buying and selling used cars from a warehouse facility rather than traditional car yards. We believe CMA has the right management and board to disrupt the industry in Australia. We’re particularly encouraged by the inclusion of the former REA Group chief executive Owen Wilson taking on the role as chairman.

Goodman Group (ASX: GMG)

The team at Medallion Financial Group believes that this industrial property giant is well-placed for growth thanks to its focus on data centres and artificial intelligence-driven infrastructure. However, it only rates Goodman as a hold right now. It explains:

Goodman Group continues to position itself as a global leader in industrial property, supported by high quality tenants, such as Amazon, Samsung, Telstra, Coles and Australia Post. Its portfolio remains robust, with strong occupancy amid long lease terms and a conservative balance sheet relative to peers. With most new development geared towards data centres and artificial intelligence-driven infrastructure, Goodman is well placed to benefit from long term structural growth. We view Goodman as a high quality, long term firm that we’re happy to hold.

Steadfast Group Ltd (ASX: SDF)

Over at Peak Asset Management, its analysts have also given their verdict on this insurance broker network provider.

Unfortunately, due to intensifying structural pressure, Peak rates Steadfast as a sell. It explains:

Steadfast operates a large general insurance broker network. Steadfast has materially reduced fiscal year 2026 premium rate expectations, cutting Australian premium growth guidance from between 3 per cent and 5 per cent to between 1 per cent and 2 per cent. While underlying net profit after tax  guidance remains between $315 million and $325 million in fiscal year 2026, the company is increasingly reliant on acquisitions and cost-out initiatives to meet earnings targets. Structural pressures in insurance broking are intensifying. The shares have fallen from $6.63 on October 28 to trade at $5.225 on November 27.

The post What are analysts saying about Goodman and these ASX stocks? appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has positions in Goodman Group. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Goodman Group and Steadfast Group. The Motley Fool Australia has positions in and has recommended Steadfast Group. The Motley Fool Australia has recommended Goodman Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

S&P/ASX 200 Index (ASX: XJO) shares are some of Australia’s strongest businesses. They are typically a leader in their industry and have compelling competitive advantages.

The businesses I’ll highlight today are all significantly lower than their recent peaks, giving investors a good opportunity to ‘buy-the-dip‘ with these stocks.

I think the three businesses below can all beat the ASX 200 return over the next three to five years.

Goodman Group (ASX: GMG)

Goodman is a major owner of industrial real estate in Australia and other markets. It owns warehouses and business parks, which are typically leased to blue-chip tenants, providing resilient rental income.

The ASX 200 share is tapping into the demand for data centres with a significant portion of its $12.4 billion work in progress (WIP) focused on that growth area. At 30 September 2025, data centres represented 68% of WIP. It expects to have total WIP of more than $17.5 billion by June 2026.

As the chart below shows, the Goodman share price has fallen around 20% since January 2025, making this a good time to look at the business.

Its rental characteristics remain strong, with 96.1% occupancy across its partnerships, with 4.2% like-for-like annual net property income (NPI) growth for properties in partnerships.

With forecasted operating earnings per security (EPS) growth of 9% in FY26, this looks like a good time to buy Goodman shares.

Xero Ltd (ASX: XRO)

Xero is one of the leading global cloud accounting businesses that’s focused on small and medium businesses.

The ASX 200 share has captured a very large market share in its home base of New Zealand, but it has also grown impressively in Australia and the UK. Other markets include Singapore, South Africa, Canada and the US.

The business continues to grow its financials at a strong pace, yet the Xero share price is down more than 30% since June 2025, as the chart below shows.

In the FY25 result, the company reported operating revenue grew 20% to $1.2 billion, annualised monthly recurring revenue (AMRR) surged 26% to $2.6 billion, operating profit (EBITDA) climbed 21% to $378 million, net profit rose 42% to $135 million and free cash flow jumped 54% to $321 million.

What that shows to me is that Xero is very profitable and further revenue growth is likely to flow to the bottom line in a big way over the coming years. Operating leverage is a powerful force, allowing profit to rise faster than revenue growth.

Xero’s subscriber base continues growing thanks to the appeal of its time-saving software for new subscribers and its high customer loyalty rate (of around 99%) each year.

Pinnacle Investment Management Group Ltd (ASX: PNI)

Pinnacle is an investment business focused on investing in high-quality funds management businesses (affiliates).

It helps the affiliates grow by offering various behind-the-scenes services such as compliance, legal, fund distribution services and much more. This allows the fund managers to focus on investing, which is the main thing clients want to pay for.

The strong investment performance of the fund managers has meant a large majority of the funds have outperformed their respective benchmarks over the long-term. That’s great for growing funds under management (FUM) organically and attracting more FUM from clients.

In the three months to September 2025, its FUM grew by another 10% (or $18 billion) with net inflows of $13.3 billion over the quarter.

Despite higher FUM, the Pinnacle share price has fallen 30% over the past 12 months, as the chart below shows.

Rising FUM means more management fees, which is a strong tailwind for the ASX 200 share’s earnings and the Pinnacle share price.

The post 3 of the best ASX 200 shares to buy right now! appeared first on The Motley Fool Australia.

More reading

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• What are analysts saying about Goodman and these ASX stocks?
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• 5 things to watch on the ASX 200 on Wednesday

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

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a small gain. At the time of writing, the benchmark index is up 0.2% to 8,597.4 points.

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

4DMedical Ltd (ASX: 4DX)

The 4DMedical share price is up 12% to $1.86. This morning, the respiratory imaging technology company signed a significant expansion of its distribution agreement with Koninklijke Philips NV (NYSE: PHG). This is for its FDA-cleared, non-contrast computed tomography (CT) ventilation and perfusion imaging solution, CT:VQ. It is the world’s first technology capable of extracting quantitative ventilation-perfusion (VQ) data from routine non-contrast CT scans. Management estimates that it has an addressable market of more than US$1.1 billion annually in the U.S. and over US$2.6 billion globally.

Dateline Resources Ltd (ASX: DTR)

The Dateline Resources share price is up 3.5% to 28.5 cents. This follows the release of drilling results from the 100%-owned Colosseum Gold and Rare Earth Element (REE) Project in California. Dateline advised that results from a further two reverse circulation holes drilled below the North Pit have provided gold assay results that exceed the mineral resource grade for the indicated blocks that they intercepted. Management expects this result to improve the mineral resource grade for the blocks.

Predictive Discovery Ltd (ASX: PDI)

The Predictive Discovery share price is up 16% to 72.7 cents. This has been driven by news that Perseus Mining Ltd (ASX: PRU) has tabled a superior takeover offer this morning. The gold miner has offered 0.136 new Perseus shares per Predictive Discovery share. This valued each Predictive Discovery share at 77.8 cents, which is a 24.5% premium to its last close and values its equity at $2.1 billion in total. Perseus advised that it expects the transaction to enhance its portfolio quality and the company’s African gold platform.

Wildcat Resources Ltd (ASX: WC8)

The Wildcat Resources share price is up almost 4% to 27.5 cents. This morning, the lithium explorer revealed that it has signed a Native Title Agreement over its 100% owned Tabba Tabba Project with the Nyamal native title holders. Wildcat’s chair, Jeff Elliott, commented: “We thank the Nyamal people for their continued support of the Project and successful negotiation of the Native Title Agreement. We look forward to continuing a close relationship with the Nyamal people, to unlock the benefits from this exciting new project in the Pilbara.”

The post Why 4DMedical, Dateline, Predictive Discovery, and Wildcat shares are racing higher 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.

You almost certainly won’t see the All Ordinaries Index (ASX: XAO) surge 160% over the coming year, but one ASX All Ords mining stock has been tipped to do just that.

That’s according to the analysts at Macquarie Group Ltd (ASX: MQG), who have just doubled down on their very bullish outlook on Meteoric Resources (ASX: MEI) shares.

Meteoric Resources shares closed yesterday trading for 14.5 cent apiece. In late morning trade on Wednesday, shares are changing hands for 15.0 cents apiece, up 3.5%.

That sees shares in the ASX All Ords mining stock up an impressive 66.7% in 2025, blowing away the 5.2% year to date gains posted by the All Ords Index.

And looking to the year ahead, Macquarie expects that Meteoric Resources shares have a lot more fuel in the tank, with the broker particularly optimistic over the miner’s rare earths developments.

Here’s what’s happening.

ASX All Ords mining stock could rocket on rare earths production

On Monday, Meteoric Resources released an update on the environmental permitting process for its Caldeira Rare Earth Project, located in Brazil.

Shares in the ASX All Ords mining stock closed down 11.1% on the day after investors learned that Brazil’s State Foundation for Environmental (FEAM) had requested more time to respond to questions related to the Caldeira Project that were raised by the Federal Public Prosecutor’s Office (MPF).

This has caused a delay in the State Council for Environmental Policy (COPAM) vote to approve the Caldeira Project’s Preliminary Environmental Licence (LP).

Meteoric said it was confident that it had already submitted all the information required to address the MPF questions.

“Whilst this delay in the COPAM vote is frustrating, the work our team has done supports the approval of the LP and we remain confident in obtaining the LP at the next COPAM meeting,” Meteoric Resources managing director Stuart Gale said.

Commenting on the procedural delay for the ASX All Ords mining stock, Macquarie said:

While disappointing, MEI believes the delay is merely an administrative setback, as the company believes all the questions raised by MPF have already been addressed and continues to target a Construction License (LI) Issuance in mid-CY26. The company plans to assist FEAM with those questions with a goal to secure a voting slot at the next meeting on 19 December.

And the broker is very bullish on the completion of Meteoric Resources’ pilot plant wet commissioning.

According to the broker:

MEI recently announced the successful completion of wet commissioning at its pilot plant in Brazil. The plant has a nameplate processing capacity of 25 kg of ore feed per hour, with potential to produce approximately 2 kg of Mixed Rare Earth Carbonate (MREC) per day. Ore feed will commence immediately, with first MREC output anticipated in early December.

We believe this will enable the company to start off-take discussions with downstream customers, a key near-term catalyst.

Macquarie maintained its outperform rating on the ASX All Ords stock, concluding:

Becoming an ex-China rare earths company is never easy, given the stringent technology and equipment controls. Despite these challenges, MEI continues to make progress and, in our view, has the potential to become Brazil’s second operating rare earths producer after Serra Verde.

Macquarie has a 12-month price target for Meteoric Resources of 39 cents per share. That represents an outsized potential upside of 160% from current levels.

The post Why Macquarie expects this surging ASX All Ords mining stock to rocket another 160% appeared first on The Motley Fool Australia.

More reading

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• Why Meteoric Resources, Race, Temple & Webster, and West African shares are falling today
• Why James Hardie, Meteoric Resources, Pilbara Minerals, and SKS shares are rising today
• Macquarie says these three critical minerals stocks deserve your attention

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 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.

APA Group (ASX: APA) shares are 0.11% higher at the time of writing on Wednesday morning, at $9.19 each. Over the past month, the shares are 0.22% higher and 30.91% higher for the year to date.

The energy infrastructure business has been particularly popular with income-seeking investors over the past year, thanks to its defensive earnings, passive payments, and attractive dividend yield.

Just yesterday, APA signed an agreement with CS Energy to develop a new gas-powered plant in Queensland. Early funding for the 400MW Brigalow Peaking Power Plant will be provided by APA. The company will then acquire 80% of the project. Once built, CS Energy will operate and maintain the plant and retain a 20% ownership interest.

APA said the investment in the plant is expected to “deliver returns consistent with its required return hurdles, will be funded from existing balance sheet capacity and forms part of APA’s $2.1 billion organic growth pipeline”.

Following the announcement, analysts at Macquarie wrote a note to investors with their latest outlook on APA Group and its shares.  

APA Group shares tipped to outperform

The broker confirmed its outperform rating on APA Group shares. It has also raised its target price to $9.23, up from $8.14 previously. At the time of writing, this implies a potential 0.43% upside for investors over the next 12 months.

“APA’s FY1 EV/EBITDA of ~11.7x looks attractive vs an historical range of 11.8-13.3x. The yield of ~6.3% pa is sustainable, with growing franking in coming years. Core earnings momentum should build with cost reductions and as new investment becomes income-generating,” the broker said in its note.

What did the broker have to say about APA Group’s new project?

The broker notes that total costs for the first-of-its-kind joint venture haven’t been finalised yet. But based on CSIRO’s cost for small scale open cycle gas turbines, it will likely be around $1 to $1.1 billion. The majority of this will likely be spent in FY27 and FY28. 

“The contract is CPI-based, providing a base-case return above CPI. Return is above APA’s cost of capital, which we estimate at ~6.4% post tax, and assuming ~11% pre-tax return, we estimate a base return of ~ $84m EBITDA+op costs of $5-10m pa,” Macquarie’s analysts said.

“The contract has flexibility in that, if usage is above expectation, additional capex is compensated through a step change in the return.”

APA reiterated its $2.1 billion three-year growth capex target. But Macquarie said that this could be upgraded if the company’s Bulloo extension is progressed.

“APA is attempting to leveraging its cost of capital advantage relative to the regular retailers, and the off balance sheet dynamics for government generators,” the broker said.

The post Macquarie raises target price on APA Group shares following joint-venture announcement appeared first on The Motley Fool Australia.

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