MA Financial Group has initiated coverage on ASX gold share Black Cat Syndicate Ltd (ASX: BC8) with a buy recommendation and a 12-month price target of $1.60.

With Black Cat shares trading at $1.02 on Thursday, up 2.51% for the day, this means the financial services group foresees potential upside of 57% for investors who buy the ASX gold share today.

MA Financial says this ASX gold stock “screens attractive across many metrics in our broader gold coverage”.

Let’s investigate.

What is Black Cat?

Black Cat is a Western Australian gold miner and antimony explorer.

The company has 100% ownership of three gold exploration and historical projects in prime gold mining regions of Western Australia.

They are Paulsens Gold in the Pilbara, the Kal East Gold Project east of Kalgoorlie, and the Coyote Gold Operation in the Western Tanami.

Kal East

Kal East is located to the east of the Kalgoorlie-Boulder mining centre.

It comprises approximately 650 square km of tenements with four existing mining centres called Myhree, Fingals, Majestic, and Trojan.

Black Cat says it is one of the largest undertested landholdings within 50km of Kalgoorlie.

Black Cat achieved first gold at Kal East in the second half of 2024.

The current JORC 2012 Mineral Resource totals 18.8mt at 2.1 g/t au for 1,294,000 oz.

The company has plans to build a traditional Carbon-In-Leach central processing facility near the Majestic Mining Centre, approximately 50km east of Kalgoorlie-Boulder.

Paulsens

Paulsens is a historical mine located in the Ashburton Basin in the Eastern Pilbara region. 

It first produced gold in 2005 and was put into care and maintenance in 2017.

Black Cat acquired it in 2022 and recommenced production in December 2024.

Paulsens has a 450ktpa processing plant on site. The current JORC 2012 Mineral Resource totals 4.4mt at 3.9 g/t au for 549,000 oz.

Coyote

These tenements sit across the Northern Territory and Western Australian border in the Tanami Goldfields region.

Coyote is a historical operation that first produced gold in 2006 and went into care and maintenance in 2013.

Black Cat bought it in 2022.

There are three explored deposits named Callie, the Tanami Goldfield, and Groundrush, plus a 300ktpa processing plant. The miner is exploring the site and plans to restart the mine in FY28.

The current JORC 2012 Mineral Resource totals 3.7mt at 5.5 g/t au for 645,000 oz.

Black Cat’s production goals and broader strategy

Black Cat’s total resources are 2.5Moz at 2.9 g/t Au, with plans to expand to 3Moz within five years.

In an investor presentation released this week, Black Cat said it was targeting an annual gold production rate of more than 100,000oz in FY26 and 130,000oz in FY27.

The longer-term goal is 200,000oz per annum by FY29, after Coyote begins production in FY28.

In a note, MA Financial noted that Black Cat’s financial position was attractive amid record commodity prices:

BC8 is fully unhedged and debt-free, offering full exposure to current record AUD gold prices, and positioning early production phases for strong margin capture.

The business has a large resource base across Paulsens and Kal East that can be progressively converted into reserves, underpinning a longer production outlook beyond the current mine plan.

Rainy day fund

Part of the company’s strategy is retaining some of its gold in stored bullion.

As of 30 September, Black Cat had 5,104oz stored and a total of $90 million in cash, bullion, and investments on its balance sheet.

Managing Director Gareth Solly said:

It is hard to justify producing a safe haven asset in gold and then converting that asset into an asset losing its purchasing power, in cash.

At the end of the day, we are in the gold business.

Investors can choose Black Cat because they are seeking leverage to gold.

But it’s not just leveraged to gold…

In addition to its gold mines, Black Cat is developing one of Australia’s largest antimony deposits at Mt Clement.

The antimony resource estimate is about 794kt at 1.7% Sb.

Antimony is a flame retardant that is also used to harden metals and make lead-acid batteries and bullets.

MA Financial says:

Renewed strategic focus on critical minerals (including antimony) could raise investor interest in Mt Clement and attract grant or partnership funding, given Mt Clement’s permits lie within NAIF jurisdiction and shares development synergies with Paulsens
infrastructure.

The ASX gold share has a market capitalisation of $716 million.

The post ASX gold share to lift 57% in a year: expert appeared first on The Motley Fool Australia.

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• Why are ASX gold shares and ETFs soaring today?

Motley Fool contributor Bronwyn Allen 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 Ma Financial Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

For decades, Australians were taught that wealth begins with property. Yet with house prices stretching further away from incomes and deposits taking longer to save, this traditional path has become harder to start.

But that hasn’t stopped Australians from building wealth — they’re simply building it differently.

A Finder Wealth Building Report from late 2024 revealed that around 7.7 million Australians invest in ASX-listed businesses, roughly one in three adults.

This isn’t a new trend — it’s a growing one. And it shows that property is no longer the only game in town.

Why property is no longer the automatic starting line

Australia’s love of property hasn’t disappeared, but affordability challenges might force a rethink.

Younger investors — and increasingly, older ones too — are recognising that building wealth can begin long before a home purchase becomes realistic. Investing in businesses offers several advantages that property can’t match:

You can start small.
Investing in businesses via the share market today can start with as little as hundreds of dollars, not hundreds of thousands.

You remain flexible.
If circumstances change, you can adjust your portfolio or access cash easily — not wait months and incur tens of thousands in costs.

You diversify from day one.
Property ties you to a single asset in one suburb. A portfolio can span dozens of industries and global trends.

No leverage required.
Property often starts with a large mortgage. Share market investing doesn’t require debt at all.

These advantages aren’t abstract. They’re increasingly essential in a world where housing is demanding more from household budgets than ever before.

A growth engine working behind the scenes

The long-term performance of listed businesses has been one of Australia’s strongest and most reliable wealth engines. Successful companies reinvest earnings, expand markets, grow revenues, and adapt to changing economic conditions. That built-in compounding is a major reason the sharemarket has historically delivered competitive long-term returns.

And unlike property, where financial outcomes depend on a single location and a single cycle, a portfolio of businesses can capture growth from across the economy. Technology, healthcare, retail, infrastructure, resources, and financials each rise and fall at different times. The breadth allows investors to benefit from global growth, not just the fortunes of their local postcode.

High-quality companies have been long-term compounds, such as ARB Corporation Ltd (ASX: ARB), Technology One Ltd (ASX: TNE), and Nick Scali Limited (ASX: NCK), while diversified ETFs like the iShares S&P 500 ETF (ASX: IVV) and the Vanguard Australian Shares Index ETF (ASX: VAS), offer exposure to sectors that have compounded value year after year.

Equity markets have quietly outperformed property

The Finder report highlighted a critical insight:

The largest companies in Australia, the US and globally have outpaced Australian house price growth over the past decade.

This doesn’t mean property is a poor investment. It simply means the idea that “property always wins” is outdated. Business ownership has delivered exceptional returns for Australians who started early and stayed consistent.

Property concentration is widening inequality 

Another insight from the report is that Australia’s heavy reliance on property has contributed to widening wealth inequality:

• 16% of high-income households own multiple properties
• Only 6% of middle-income households do
• Just 5% of Gen Z own more than one property

And when property is stripped out, average household net wealth drops dramatically — from $573,252 to $196,778.
This illustrates the increasing concentration of Australian wealth and why diversifying through business ownership is no longer optional for many.

A Foolish path to long-term wealth

None of this diminishes the role of property. But it does highlight a shift to the common local narrative: wealth does not have to begin with real estate.

Investing in businesses provides Australians with a practical and flexible path to grow their capital, build financial security, and create options — even as property becomes increasingly difficult to enter. 

The post Australian property is expensive. Here’s how investors are growing wealth elsewhere appeared first on The Motley Fool Australia.

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Motley Fool contributor Leigh Gant 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 ARB Corporation, Technology One, and iShares S&P 500 ETF. The Motley Fool Australia has recommended ARB Corporation, Nick Scali, Technology One, 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.

The Charter Hall Group (ASX: CHC) share price is in focus after the group upgraded its FY26 operating earnings per security (OEPS) guidance by 5.5% to 95.0 cents, thanks to strong investment activity and growing revenue across key business segments.

What did Charter Hall report?

• FY26 OEPS guidance upgraded by 5.5% to 95.0 cents per security (from 90.0 cps)
• This represents a 16.7% increase on FY25 OEPS of 81.4 cents per security
• Increased transaction volumes across Property Investments, Development Investment, and Funds Management
• Equity inflows from both existing and new investors remain healthy
• FY26 guidance excludes any performance fee revenue

What else do investors need to know?

Charter Hall is experiencing positive momentum, with more deals closing and rising investment activity since 30 June 2025. The group’s Property Investments and Funds Management divisions are seeing operational gains and higher revenue, driven by strong demand from institutional and retail investors.

Charter Hall manages a diverse portfolio spanning office, industrial, retail, and social infrastructure properties. The uplift in guidance signals management’s confidence in continuing growth, supported by disciplined financial management and active engagement with customers.

What’s next for Charter Hall?

Assuming no major changes in market conditions, Charter Hall expects continued momentum leading into FY26, with upgraded earnings guidance now set at 95.0 cents per security. The group remains focused on growing platform activity and delivering strong outcomes for its investor customers.

Charter Hall will announce its Financial Half Year 2026 Results on 19 February 2026. Management expects ongoing demand for its property funds and further investment opportunities across core sectors.

Charter Hall share price snapshot

Over the past 12 months, Charter Hall shares have risen 53%, outpacing the S&P/ASX 200 Index (ASX: XJO) which has risen 3% over the same period.

View Original Announcement

The post Charter Hall upgrades FY26 earnings guidance amid strong property momentum appeared first on The Motley Fool Australia.

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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 S&P/ASX 200 Index (ASX: XJO) is up a welcome 1.1% in afternoon trade on Thursday, with two ASX 200 mining stocks joining the rally to notch new 52-week-plus highs.

Here’s what’s happening.

ASX 200 mining stock riding the lithium revival

The first miner notching new one-year-plus highs today is Liontown Resources Ltd (ASX: LTR).

Shares in the ASX lithium stock closed yesterday trading for $1.465. At the time of writing today, shares are changing hands for $1.575 apiece, up 7.5%. That’s the highest level since late December 2023. And it sees the Liontown share price up a whopping 94.1% over the past 12 months.

At the current share price, Liontown Resources commands a market cap of $4.6 billion.

The ASX 200 mining stock has been a clear beneficiary of resurgent global lithium prices.

Lithium carbonate prices have been on a tear since mid-October. Lithium carbonate is now trading at 14-month highs amid new support for EVs and battery storage recently announced by the Chinese government.

When the miner reported its first-quarter results in October, Liontown CEO Tony Ottaviano was optimistic about the year ahead. He noted:

With the open pit nearing completion and underground production scaling, we’re entering the next phase at Kathleen Valley. As cleaner underground ore increasingly feeds the mill, recoveries will improve and we remain on track to meet our 70% lithia recovery target by the end of Q3 FY26.

Which brings us to…

The golden touch

The second ASX 200 mining stock trading at not just a new 52-week high but a new all-time high today is Perseus Mining Ltd (ASX: PRU).

Shares in the ASX gold stock closed on Wednesday trading for $5.27. At the time of writing, shares are swapping hands for $5.41 apiece, up 2.6%. That gives this Aussie gold miner a market cap of $7.3 billion.

Perseus Mining shares are now up 104.7% over 12 months. And that doesn’t include the 7.5 cents per share in unfranked dividends the company paid to eligible stockholders over the year. At the current share price, Perseus shares trade on an unfranked dividend yield of 1.4%.

Like Liontown has benefited from rising lithium prices, Perseus Mining shares have benefited from the rocketing gold price.

Although slightly down from October’s record highs, gold is still fetching US$4,056 per ounce today, according to data from Bloomberg. That sees the yellow metal up 54% year to date.

Looking ahead, in October, the ASX 200 mining stock reaffirmed its full-year FY 2026 production guidance of 400,000 to 440,000 ounces at an all-in sustaining cost (AISC) of US$1,460 to US$1,620 per ounce.

The post 2 ASX 200 mining stocks smashing new 52-week highs on Thursday appeared first on The Motley Fool Australia.

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• Macquarie names which lithium stocks to buy, and which to avoid
• ASX 200 mining shares rip as lithium makes a comeback

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

National Australia Bank Ltd (ASX: NAB) shares are pushing higher today.

Shares in the S&P/ASX 200 Index (ASX: XJO) bank stock closed yesterday trading for $40.32. In early afternoon trade on Thursday, shares are changing hands for $40.46 apiece, up 0.3%.

For some context, the ASX 200 is up 1% at this same time.

Taking a step back, NAB shares are up 2.8% over the past 12 months, excluding the two fully franked dividends the big four bank paid to eligible stockholders during this period. At the current price, the ASX 200 bank stock trades on a fully franked dividend yield of 4.2%.

What’s been happening with NAB shares?

It was only last month that NAB shares notched a new record closing high of $44.67 apiece on 6 October.

On 5 November, the stock closed at $44.53, but it has since fallen more than 9%.

Part of that selling pressure came following the release of NAB’s full-year FY 2025 results on 6 November, with the stock closing down 3.3% on the day.

Investors favoured their sell buttons after the bank reported full-year cash earnings of $7.09 billion, slightly down from the prior year.

And on the bottom line, NAB’s statutory net profit of $6.76 billion declined by 2.9% from FY 2024.

Commenting on the FY 2025 results that pressured NAB shares on the day, CEO Andrew Irvine noted that despite the decline in statutory profit, “NAB has delivered a 1% lift in underlying profit in FY25.”

Irvine added:

This reflects good momentum, particularly over 2H25, as we execute the first year of our refreshed strategy while maintaining prudent balance sheet settings. Cash earnings were broadly stable over the year.

While credit impairment charges increased, pleasingly a number of key asset quality outcomes improved over 2H25, consistent with a supportive Australian economic environment.

Is the ASX 200 bank stock a sell?

Morgans’ Damien Nguyen recently ran his slide rule over the big four Aussie bank (courtesy of The Bull).

“The NAB differentiates itself from its major bank peers with its leading banking franchise involving small-to-medium sized enterprises,” said Nguyen, who has a sell recommendation on NAB shares.

“While this market offers higher returns than home lending, it’s also higher risk,” he noted. “Also, regulatory capital initiatives and competition are intensifying.”

Nguyen concluded:

We don’t believe NAB’s growth outlook justifies its recent elevated trading multiples. Cash earnings of $7.091 billion in full year 2025 were down 0.2% on the prior corresponding period.

NAB currently trades at a price-to-earnings (P/E) ratio of around 18 times.

The post Why this investing expert is calling time on NAB shares appeared first on The Motley Fool Australia.

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

iShares Global 100 AUD ETF (ASX: IOO) is trading at $190.37 on Thursday, up 2.27%.

IOO ETF is an index-tracking ETF that provides investors with exposure to the 100 largest companies in the world.

That sounds like smart investing, especially if you like the sleep-at-night factor of your money being in large, established companies.

However, it’s worth noting that since so many of the world’s most successful companies are based in the US, your geographic diversification is pretty narrow with this ETF.

About 81% of the underlying stocks it invests in, by mirroring the S&P Global 100 Index, are US companies. The next biggest geographic exposures are the United Kingdom 4%, Switzerland 3%, Germany 3%, France 2%, Japan 2%, China 1%, and the Netherlands 1%.

Tied to that narrow geographic diversification is lower sector diversification, given that the biggest companies in the US are tech-heavy.

About 45% of the IOO ETF’s stocks are in the technology sector. The other big sector exposures are communications 10%, financials 10%, consumer discretionary 9%, healthcare 9%, and consumer staples 6%.

Like many diversified ASX ETFs invested in international shares, the IOO ETF has benefited from the US market’s screaming three-year run.

The narrow geographic and sector diversification has strongly worked in investors’ favour, and in tandem with the explosive growth of the ‘Magnificent Seven’ — Nvidia, Apple, Microsoft, Amazon, Alphabet Class A and Class C, Meta Platforms, and Tesla.

Let’s see how all this translates for a $10,000 investment in the IOO ETF three years ago.

What is $10,000 in IOO ETF worth now?

On 21 November 2022, IOO closed at $65.91 apiece.

If you had put $10,000 into the IOO ETF then, it would have bought you 151 units (for $9,952.41).

There’s been capital growth of $124.46 per unit since then, which equates to $18,793.46 in dollar terms.

IOO ETF also pays dividends (or ‘distributions’ with ETFs) twice per year.

Since 21 November 2022, IOO has paid $3.50 per unit in distributions.

This means you would have received $528.50 in dividend income over the past three years.

Your capital gain of $18,793.46 plus your distributions of $528.50 gives you a total return in dollar terms of $19,321.96.

To recap, you invested $9,952.41 buying your 151 units of IOO ETF on 21 November 2022.

This means you have received a total return, in percentage terms, of 194% since then.

Today, your $10,000 investment in IOO ETF is worth $28,745 (excluding your $528.50 in income, which you spent on something fun).

The iShares Global 100 AUD ETF has a management fee of 0.4%.

The post $10,000 invested in IOO ETF 3 years ago is now worth… appeared first on The Motley Fool Australia.

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Motley Fool contributor Bronwyn Allen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Alphabet, Amazon, Apple, Meta Platforms, Microsoft, Nvidia, and Tesla. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. 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, Meta Platforms, Microsoft, and Nvidia. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The Coles Group Ltd (ASX: COL) share price is trading in the red at Thursday lunchtime. At the time of writing, the shares are 1.05% lower at $22.10 a piece. Over the month, the supermarket giant’s shares have dropped 4.66%, but they’re still 21.72% higher than this time last year.

The Coles share price enjoyed a 15.9% spike in late August off the back of a robust FY25 result. It also posted a strong quarterly update in late October, where it reported a 3.9% increase in group sales. But liquor sales were down 1.1% and new legislation pushed its tobacco sales 57% lower. The quarterly results were generally in line with analyst expectations. 

The company also paid its investors two fully franked dividends, totalling 69 cents a share, to eligible stockholders over the year. 

It appears that Coles is positioning itself as the stronger market player amid an ongoing supermarket rivalry with its competing giant, Woolworths Group Ltd (ASX: WOW).

Can Coles keep growing?

Overall, Coles has been a strong performer this year, and it looks like its ongoing growth strategy has paid off. But the business will face headwinds from resilient inflation and cost-of-living pressures in Australia.

Consumers are being forced to cut back on discretionary items, and even Coles’ executives have noted that shoppers are visiting more stores and being more selective. And this could be problematic for business growth. 

What about Coles shares? Is there more upside ahead?

I’m concerned that its share price has reached a ceiling and has already started to correct from its peak.

TradingView data shows analyst sentiment about Coles shares is split. Out of 17 analysts, 10 have a buy or strong buy rating, 5 have a hold rating, and the remaining 2 have a strong sell rating.

The maximum target price for Coles shares is $ 26.60, which implies a potential 20.33% upside for investors at the time of writing. Although some analysts expect to see a 7.24% downside for the shares, to around $20.50 a piece.

Tony Locantro from Alto Capital has a sell recommendation on the stock. He said he sees headwinds building for Coles shares following their strong run. 

Michael Gable from Fairmont Equities also recently said his team “can’t identify sufficient catalysts to justify the share price”. He added that persistent inflation and elevated interest rates could see a reversal in the Coles share price. 

The team at Morgans have a hold rating and $22.90 price target on Coles shares. The broker thinks that investors should wait for a better entry point before buying the stock.

However, Morgan Stanley is more bullish. The broker has an overweight rating and $26.50 price target on its shares.

The post Coles shares storm 22% higher this year: Are they still a buy? 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 no position in any of the stocks mentioned. The Motley Fool Australia has positions in and has recommended Woolworths 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) dividend stock GPT Group (ASX: GPT) is pushing higher today.

Shares in the property investment company closed yesterday trading for $5.53. During the Thursday lunch hour, shares are swapping hands for $5.55 apiece, up 0.4%.

This sees the ASX 200 stock up 25.6% in 2025, racing ahead of the 4.1% year to date gains posted by the benchmark index.

As for that passive income, GPT Group shares trade on an unfranked 4.3% trailing dividend yield.

And looking to the year ahead, the analysts at Macquarie Group Ltd (ASX: MQG) expect another year of outperformance from GPT.

Here’s why.

ASX 200 dividend stock could boost retail footprint

In a new research report published on Wednesday, Macquarie sounded a bullish note on the potential for GPT Group, and the GPT Wholesale Shopping Centre Fund (GWSCF), to secure greater management control at the Sunshine Plaza in Queensland and the Macarthur Square in New South Wales.

The ASX 200 dividend stock already is a part owner of both centres.

Noting the new partnership opportunity with Australian Prime Property Fund Retail (APPF Retail) liquidity event. Macquarie said:

GPT and GWSCF may exercise pre-emptive rights (ideally under a family of funds clause to avoid double stamp-duty) to gain wider management rights to co-owned assets Sunshine Plaza and Macarthur Square. We estimate based on an investment management fee of 25-40bps, the transaction could be 0.2-0.4% accretive to FY26 FFO (Note: GPT already earns property management fees at these assets).

The broker noted that GWSCF is undertaking an equity raise “potentially providing capacity to participate”.

Macquarie expects this partnership would benefit GPT Group. The broker stated:

The economics for GPT are likely to be better with GWSCF than most other potential partners, however GWSCF has no capacity without the targeted $500m equity raise.

We estimate GPT has ~$360m of debt capacity to the upper end of its gearing range (post capital commitments) implying a raise would be required for GPT to acquire either or both assets. However, this would not align with the preferred partnership strategy.

Connecting the dots, Macquarie retained its outperform rating on the ASX 200 dividend stock with a $6.23 12-month target price. That implies a potential upside of more than 12% from current levels. And it doesn’t include those two upcoming dividends.

Macquarie concluded:

Execution of strategy offers upside potential to valuation in the medium to long term. From here, we believe evidence of growth in third-party FUM will be key.

The post Why Macquarie expects this fast-rising ASX 200 dividend stock to keep outperforming in 2026 appeared first on The Motley Fool Australia.

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

The S&P/ASX 200 Index (ASX: XJO) is back on form and charging higher on Thursday. In afternoon trade, the benchmark index is up 1.1% to 8,539.7 points.

Four ASX shares that have failed to follow the market higher today are listed below. Here’s why they are falling:

DroneShield Ltd (ASX: DRO)

The DroneShield share price is down a further 4% to $1.90. This morning, the counter drone technology company responded to an ASX Aware Letter. The company was asked to explain recent share sales and the accidental release of announcement. With respect to the latter, DroneShield revealed that it is working on implementing new ERP and CRM platforms, due to go live in early 2026, to strengthen operational controls and reporting quality.

GQG Partners Inc (ASX: GQG)

The GQG Partners share price is down over 4% to $1.55. Investors have been selling this fund manager’s shares despite there being no news out of it today. However, it is worth noting that GQG Partners has been avoiding certain areas of the market due to concerns over an AI bubble. So, with Nvidia (NASDAQ: NVDA) delivering a stronger than expected update this morning, the market may believe that GQG Partners’ underperformance will continue in the near term.

Origin Energy Ltd (ASX: ORG)

The Origin Energy share price is down almost 3% to $11.47. This may have been driven by improving investor sentiment, which has led to investors flooding back into higher risk areas of the market like the tech sector. Given that Origin Energy is seen as a safe haven option by many investors, they could be rotating out of it during today’s session.

Worley Ltd (ASX: WOR)

The Worley share price is down 4% to $13.11. This follows the release of the engineering services company’s annual general meeting update this morning. While management has reaffirmed its guidance for FY 2026, it warned that it would be weighted more than normal to the second half of the year. Its CEO, Chris Ashton, said: “For this financial year, we expect earnings to be weighted more heavily to the second half. We typically experience seasonality in our revenue and earnings profile, but in FY2026 this weighting to the second half for earnings is expected to be more pronounced than in prior years. This reflects the impact of non-material project cancellations, but primarily the significant work that we’re doing to re-position capability in areas of higher demand, transform the way we work and to reset our cost base.”

The post Why DroneShield, GQG Partners, Origin Energy, and Worley shares are falling today appeared first on The Motley Fool Australia.

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