Shares in Metallium Ltd (ASX: MTM) are in a trading halt today after the company requested a temporary suspension in trading.

The halt will remain in place until trading resumes on Wednesday, 21 January 2026. It could also be lifted earlier if an announcement is released.

So, what is Metallium preparing to release to the market? Let’s take a look.

What triggered the trading halt

In its request to the ASX, Metallium confirmed the trading halt is pending the release of an announcement relating to a strategic US capital raising.

The company has not yet disclosed the size, structure, or pricing of the potential capital raise. However, the wording suggests Metallium is working on funding linked to its US operations, potentially to support commissioning and early commercial activity.

Why funding is important at the moment

Metallium is moving through a critical phase of its development.

The company is working toward commissioning and early commercial activity in the United States, where it plans to deploy its Flash Joule Heating technology to recover metals from recycled and industrial materials.

That stage of growth usually requires additional funding, with costs rising as the business moves closer to commissioning.

What investors will be watching for

When the halt is lifted, investors will be focused on several key details.

These include the amount of capital being raised, whether existing shareholders are diluted, and whether the raise involves new strategic investors or institutions.

The market will also be watching how the funds are expected to be used, particularly whether they are tied to specific milestones in the US, such as commissioning progress or capacity expansion.

The price set for the raising will also be important. A heavily discounted issue could pressure the share price, while a smaller discount may be seen as a sign of confidence.

A quick reminder on the business

Metallium is a technology-focused metals recovery company.

It does not operate traditional mines. Instead, it uses its patented Flash Joule Heating process to extract metals from mineral concentrates, industrial waste, and recycled materials.

Target metals include rare earths elements, gallium, germanium, antimony, and gold, many of which are considered important to modern manufacturing and energy systems.

Foolish Takeaway

Another trading halt always puts a stock firmly on investor watchlists, especially when it follows a halt earlier this month.

I will be paying close attention to the details of the proposed capital raising. In particular, how it supports Metallium’s US strategy and advances the business toward sustainable commercial operations.

The post Why this ASX small cap has hit the pause button again appeared first on The Motley Fool Australia.

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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.

ASX All Ords mining stock Syrah Resources Ltd (ASX: SYR) is taking a hit today.

Shares in the Aussie graphite producer closed on Friday trading for 30.5 cents. In morning trade on Monday, shares are swapping hands for 28.7 cents apiece, down 5.9%.

For some context, the All Ordinaries Index (ASX: XAO) is down 0.1% at this same time.

Here’s what’s happening.

ASX All Ords mining stock catching Tesla headwinds

Investors are pressuring Syrah Resources shares today following an update on its offtake agreement with Tesla Inc (NASDAQ: TSLA).

The offtake agreement with Elon Musk’s EV company is for the supply of natural graphite active anode material (AAM) from Syrah’s 11.25 thousand tonne per annum Vidalia AAM facility, located in the US state of Louisiana.

The ASX All Ords mining stock initially executed the offtake agreement with Tesla back in December 2021.

On 30 July 2025, Syrah announced to the market that Tesla had sent a notice alleging that Syrah had defaulted on an obligation under the agreement to provide conforming AAM samples from Vidalia.

Following an amended notice, Tesla required Syrah to cure the alleged default by last Friday, 16 January, or risk the termination of the offtake agreement. Tesla has the right to terminate the agreement if final qualification of Vidalia AAM is not achieved by 9 February.

Syrah stated that it does not accept that it is in default under the offtake agreement.

However, in news that has yet to lift the ASX All Ords mining stock today, the company said that it is closely collaborating with Tesla to cure the alleged default. In light of the collaborative efforts, the two companies have agreed to amend the offtake agreement to extend the potential termination date to 16 March.

The amended agreement remains subject to the consent of the United States Department of Energy.

What’s the latest from Syrah Resources?

Syrah Resources reported its first quarter (Q1 FY 2026) results on 28 October.

Among the highlights, the ASX All Ords mining stock produced 26,000 tonnes of natural graphite at its Balama mine and processing facility, located in Mozambique.

Over the three months to 30 September, the miner sold and shipped 24,000 tonnes of natural graphite to third-party customers at an average price of US$625 per tonne.

Commenting on the quarterly performance on the day, Syrah CEO Shaun Verner said:

Syrah’s operational highlights for the third quarter included the safe ramp-up of operations at Balama following the extended non-operating period and the completion of large-volume breakbulk shipments to Indonesia and the US.

As for its US operations that involve the offtake agreement with Tesla, Verner noted, “The company’s successful capital raising in July better positions us to manage market volatility and extended AAM qualification processes at Vidalia.”

The post ASX All Ords mining stock sinking on big Tesla news 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 Tesla. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The All Ordinaries Index (ASX: XAO) is down 0.1% in morning trade, with ASX All Ords gold stock Red Hill Minerals Ltd (ASX: RHI) trading flat at this same time.

Red Hill shares closed on Friday trading for $5.07. At the time of writing on Monday, shares are changing hands for, well, $5.07 apiece.

This leaves the Red Hill share price up 81.1% since plumbing a one-year closing low on 7 April.

Here’s what’s happening today.

ASX All Ords gold stock expanding its footprint

The Red Hill Minerals share price has yet to make any big moves following the release of an exploratory drilling update.

The ASX All Ords gold stock reported on a fresh batch of assay results from a diamond and reverse circulation (RC) drilling program targeting the Barkley Gold prospect, situated within its West Pilbara Gold and Base Metal Project, located in Western Australia.

Red Hill’s 2025 RC and diamond drill program expanded the mineralisation footprint at Barkley to more than a one-kilometre strike length. The target was reported to remain open in multiple directions.

The miner said the results from the two latest diamond twin holes, which were drilled for a total of 424.3 metres, have confirmed gold mineralisation and “extensive alteration”.

Among the top results, Red Hill reported 1.3 metres at 2.0 grams of gold per tonne from 9.7 metres, and 0.7 metres at 1.2 grams of gold per tonne from 83.3 metres.

For the geologically informed, management stated:

Drilling across the target confirms mineralisation is present in both weathered and fresh rock. Bedrock alteration and structural overprint has been observed in diamond drill core to increase with depth, adding previously undescribed alteration styles for this project including hematite alteration, observed from approximately 190 metres.

The ASX All Ords gold stock has commenced initial 3D geological modelling that incorporates the structural information from the diamond core to assist with future drill planning.

Management said that Future drilling at Barkley will likely step out to the north, south, and east of three of its most promising drill holes, “where the thickest and highest-grade mineralisation remains open and heritage clearance has been obtained”.

What’s been happening with Red Hill Minerals?

Atop its recent exploration successes at the Barkley Gold Prospect, the ASX All Ords gold stock has been catching solid tailwinds from the surging gold price.

Gold is currently fetching US$4,596 per ounce. That’s within a whisker of its all-time highs posted last week. And it sees the price of the yellow metal up a whopping 67% since this time last year.

The post Up 81% since April, ASX All Ords gold stock reveals latest exploration success 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.

The S&P/ASX 200 Index (ASX: XJO) energy share Santos Ltd (ASX: STO) has certainly seen plenty of volatility over the last few years, including takeover approaches.

Volatility is part of what we should expect with energy businesses – resource prices can change quite dramatically in a short amount of time as supply and demand dynamics adjust.

When that happens, sell-offs can be opportunistic times to invest, while high prices can be helpful for shareholders deciding to take profit off the table.

Is the Santos share price attractive?

Broker UBS certainly thinks so. Analysts from that investment institution have put a buy rating on the ASX energy share.

A price target is where analysts think the share price will be in 12 months from the time of the investment call. UBS currently has a price target of $7.80 on the business, implying a rise of more than 20% from where it is at the time of writing.

UBS is expecting Santos’ earnings per share (EPS) to grow from 33.4 cents in FY25, to 42 cents in FY26 and 44.8 cents in FY27.

In a recent note, UBS reduced its Santos 2026 EPS projection by 5% to the above forecast of 42 cents.

That means it’s trading at approximately 10x FY26’s estimated earnings, at the time of writing, according to UBS’ projection.

Santos is UBS’ preferred Australian energy exposure, the valuation appears “compelling” and provides the strongest growth in free cash flow over the coming 12 months.

Even so, UBS is expecting weaker GLNG (Gladstone LNG) production in the three months to 31 December 2025 along with a modest delay to commissioning at the Barossa resulting in softer fourth quarter production compared to expectations.

The broker is expecting updates on the commissioning of Santos’ Pikka oil project, with the first oil production expected in 2026, though cool weather in North Alaska could slow the commissioning of the seawater treatment plant by a month or two.

What’s happening with energy prices?

UBS sees oil prices facing pressure because of a surplus and OPEC+ (a group of oil-producing countries) retaining spare capacity of 4.1 million barrels per day (excluding Iran and Venezuela). The broker’s base case assumes OPEC+ unwinds the rest of the 1.65 million barrels per day of voluntary cuts this year.

The broker commented on oil prices and its expectations:

We cut our 2026 oil prices by $2/bbl to a $62/bbl average Brent, driven by a larger oil surplus now up to 1.9Mb/d in 2026, in line with 2025. However, we expect the surplus to narrow over the course of the year, driving our Brent forecast from $60/bbl in 1Q26 to $64/bbl in 4Q26. Geopolitical risks persist, and potential supply disruptions in Russia, Venezuela, and Iran could keep volatility elevated. A further 0.5 mb/d decline in supply may support Brent prices in the mid- to high-$60s.

Time will show how accurate UBS’ optimistic view on the Santos share price is.

The post Is the Santos share price too cheap to ignore? appeared first on The Motley Fool Australia.

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Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has 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.

Djerriwarrh Ltd (ASX: DJW) will be moving to quarterly dividend payments this year, with the first of these to be paid in May, subject to board approval.

The listed investment fund announced its half-year results on Monday, and set its dividend at 7.25 cents per share fully franked – equal to the same corresponding period last year.

The company said regarding the dividend:

Based on the interim dividend declared and the final dividend paid, the dividend yield including franking on the net asset backing is 6.6%. This represents an enhanced yield of 2.6 percentage points higher than that available from the S&P/ASX 200 Index when franking is included.

Benchmark missed

The fund said that for the six months to the end of December, its portfolio return, including franking, was 2.1%, which underperformed the ASX 200, which returned 4.2%.

Over 12 months, the fund also underperformed, returning 5.5% compared with 11.5%.

The fund said in its report:

Djerriwarrh’s relative underperformance over these periods was heavily impacted by the cumulative effect of being underweight in gold and critical minerals companies, which have risen significantly, and the decline in the share prices of EQT Holdings and CSL. Djerriwarrh typically does not have exposure to small and mid-cap sized companies in gold and critical minerals as they are very cyclical investments and do not produce dividends of any significance. It is also difficult to write call options over many of these companies.  

The fund’s net operating result for the half was $19.7 million, down from $21 million for the previous corresponding period.

The fund went on to say:

In the current highly valued market, we have allowed many option positions to be exercised and have maintained a net cash position for the majority of the period. We also don’t have exposure to small and mid-cap resources which have risen significantly over these periods. These factors have all impacted relative portfolio returns but we have been able to maintain a significant fully franked dividend yield ahead of the market which is a key objective of Djerriwarrh.

The largest contributors to Djerriwarrh’s income were BHP Group (ASX: BHP), Woodside Energy Group (ASX: WDS), Transurban Group (ASX: TCL), Region Group (ASX: RGN), Rio Tinto (ASX: RIO), CSL (ASX: CSL), Woolworths Group (ASX: WOW) and Telstra Group (ASX: TLS).

The first half dividend will be paid on February 23. The dividend reinvestment plan remains in place with zero discount applied.

Djerriwarrh was valued at $822.8 million at the close of trade on Friday.

The post A major change to the Djerriwarrh dividend is on the way appeared first on The Motley Fool Australia.

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Motley Fool contributor Cameron England has positions in CSL. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended CSL and Transurban Group. The Motley Fool Australia has positions in and has recommended Region Group, Telstra Group, Transurban Group, and Woolworths Group. The Motley Fool Australia has recommended BHP Group and CSL. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Building your first share portfolio can feel like a big leap, but it does not have to be complicated.

The goal is not to get everything perfect on day one, as much as you would like to. It is to create a simple structure you can stick with, then build on it gradually as your confidence grows.

Here is a step-by-step way to approach it.

Step one: Decide what the portfolio is for

Before you buy anything, it helps to be clear about the purpose.

Are you investing for long-term wealth, extra income, or a future goal like a home deposit or retirement. The longer your timeframe, the more you can ride out market ups and downs, and the more you can lean toward growth-focused investments.

This also helps set expectations. It is worth remembering that ASX shares can be volatile in the short term, but over longer periods, quality businesses have historically rewarded patient investors.

Step two: Start with a simple core

A first portfolio usually works best when it has a strong centre.

For many beginners, that means starting with broad market exposure rather than trying to pick lots of individual winners. An ASX exchange traded fund (ETF) like the Vanguard Australian Shares ETF (ASX: VAS) or the Vanguard MSCI International Shares ETF (ASX: VGS) can provide instant diversification and reduce the risk of one poor stock choice doing too much damage early on.

The core is the part of the portfolio you can keep adding to consistently, even when markets are noisy.

Step three: Add quality ASX shares

Once you have a core, individual ASX shares can be added around it.

The key is to keep it manageable. A handful of high-quality companies is usually better than buying a long list you cannot properly follow. When choosing shares, look for businesses with strong competitive positions and the ability to keep growing over the long term.

Examples many long-term investors consider include global healthcare leaders like CSL Ltd (ASX: CSL), software businesses such as TechnologyOne Ltd (ASX: TNE), or behemoths like Woolworths Group Ltd (ASX: WOW).

The goal is not to trade these ASX shares. It is to own them as the businesses grow.

Step four: Invest regularly

Many first-time investors make the same mistake. They wait.

A regular investing plan can remove a lot of stress. By investing a set amount each month, you spread your entry points over time. This reduces the pressure to time the market and helps build the habit that matters most for long-term wealth.

It also turns investing into a process, also known as dollar-cost averaging, not a one-off decision.

Step five: The final step

You do not need to monitor your portfolio every day, but you do want to avoid common pitfalls.

Diversification matters, especially early. Avoid building a portfolio that is heavily concentrated in one sector or one theme. Fees matter too. High costs can quietly eat into returns over time, which is why low-cost ETFs are often a good starting point.

Most importantly, remember that your behaviour will often have a bigger impact than your stock picks. Staying calm during volatility and sticking to a long-term plan is what separates successful investors from the rest.

Foolish takeaway

Your first ASX share portfolio does not need to be perfect. It needs to be sustainable.

Start with a simple diversified core, add a small number of high-quality shares you are happy to hold for years, invest regularly, and avoid overcomplicating things. Over time, this will help you build long-term wealth.

The post How to build your first ASX share portfolio step by step appeared first on The Motley Fool Australia.

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

The Nickel Industries Ltd (ASX: NIC) share price is in focus today after the miner reported December quarter adjusted EBITDA from operations is expected to be between US$35 million and US$40 million, with record quarterly earnings from its HNC HPAL operation.

What did Nickel Industries report?

• December quarter adjusted EBITDA from operations forecast at US$35m–US$40m
• HNC HPAL achieved record quarterly adjusted EBITDA of US$129m (100% basis)
• Hengjaya Mine ore sales dropped to 945,631 wmt due to regulatory delays
• Estimated US$45m in foregone ore sales, plus US$18m in contractor stand-by costs
• Hengjaya Mine sold 735,000 wmt of ore by 17 January 2026, despite heavy rainfall

What else do investors need to know?

The company’s financial performance took a hit in the December quarter as a result of delays in securing an increased Rencana Kerja dan Anggaran Biaya (RKAB) permit for its Hengjaya Mine. This delay meant ore sales fell sharply from the previous quarter.

On the positive side, operations at Hengjaya resumed in mid-December, supporting a quick recovery. The ongoing pivot towards electric vehicle battery materials is progressing too, with the HNC HPAL project delivering a record result and the Excelsior Nickel Cobalt (ENC) project on track.

What did Nickel Industries management say?

Managing Director Justin Werner said:

Whilst the Company has been frustrated in the delay to secure its 2025 RKAB extension, which was only issued on 11 December 2025 and resulted in foregone ore sales of US$45m, plus a further US$18m in contractor stand-by costs, we are extremely pleased to start 2026 strong with 735,000 wmt of nickel ore sold as at 17 January.

What’s next for Nickel Industries?

Nickel Industries is turning its attention to the future, with early 2026 operations at Hengjaya Mine off to a strong start despite unusually high rainfall. The company is looking to further diversify with the commissioning of the new ENC project, expected to add significant nickel production focused on the electric vehicle battery supply chain.

This transition is part of a broader strategy to reduce carbon emissions and expand Nickel Industries’ presence across the battery materials market. Investors will be watching progress at the ENC project closely over the coming quarters.

Nickel Industries share price snapshot

Over the past 12 months, Nickel Industries shares have risen 6%, slightly trailing the S&P/ASX 200 Index (ASX: XJO) which has risen

View Original Announcement

The post Nickel Industries posts Q4 earnings and lifts outlook 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.

Epiminder Ltd (ASX: EPI) shares are racing higher on Monday morning.

At the time of writing, the small cap ASX stock is up 3% to 95 cents.

Why is this small cap ASX stock jumping?

Investors have been buying the epilepsy monitoring technology company’s shares after it made a big announcement.

According to the release, the first implant of the Minder System in the United States has been achieved.

The Perelman School of Medicine at the University of Pennsylvania, which is the first site to join the Diagnosing Epilepsy To Effect Change (DETECT) study, has enrolled and implanted the first study patient.

But it may not stop there. The small cap ASX stock has revealed that four other sites have enrolled for the study and are actively recruiting patients. This includes the Mayo Clinic Rochester, Mayo Clinic Jacksonville, Mayo Clinic Phoenix, and Beth Israel Deaconess Medical Center.

What is the DETECT study?

The DETECT study is the first randomised controlled trial to compare patients who are implanted with Minder to standard of care monitoring. This is to identify clinically actionable events in patients with drug-resistant epilepsy.

In the six-month study, 210 patients will receive the implant at up to 25 sites in the United States.

The small cap ASX stock notes that the goal of the study is to demonstrate that continuous EEG monitoring is superior to using standard of care in identifying clinically actionable events in patients with drug-resistant epilepsy.

‘A watershed moment’

Epiminder’s CEO, Rohan Hoare, was very pleased with this major milestone. He said:

This first US implant of our Minder device marks a watershed moment for Epiminder and the global epilepsy community. We are excited to take the next step in translating years of rigorous scientific development and clinical validation into real-world impact for patients who have exhausted traditional monitoring options. Dr. Ganguly and her team at Penn Medicine represent the exceptional clinicians who will help us begin to unlock Minder’s full potential.

Their expertise and dedication to advancing drug-resistant epilepsy care embody exactly why we built this device. Consistent with our commercialization strategy, with each patient enrolled in DETECT, we move closer to our mission: empowering clinicians with objective, continuous brain activity data and ultimately providing the 52 million people living with epilepsy worldwide with the answers, insights, and hope they deserve. This study is just the beginning of what we believe will be a fundamental transformation in how the world diagnoses and manages epilepsy.

The post Guess which small cap ASX stock is rising on ‘watershed moment’ in the US 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.

Shares in Magnetic Resources Ltd (ASX: MAU) are trading higher after the company announced a new mineral resource estimate for its Lady Julie gold project.

The company said it had completed a number of deep diamond drill holes at the project’s LJN4 deposit, with the aim to “boost confidence in the northern portion of the current resource, and to expand the resource at depth”.

Following this work, the company said the combined resource of the Lady Julie project now exceeded 39.1 million tonnes of ore containing 2.24 million ounces of gold, with more than 80% of this resource falling into the high confidence “indicated” category.

Magnetic Resources Managing Director George Sakalidis said the project had an “exceptional orebody”.

He went on to say:

In terms of resources, LJN4 alone now exceeds 2 million ounces, with 2.42 million ounces in the overall Laverton Project. This upgrade is significant because it confirms previous interpretations and builds confidence in the overall estimate. LJN4 is one of the largest and highest grade undeveloped open pit deposits in Western Australia. With the feasibility study completion and the permitting process advancing, Magnetic is rapidly evolving to a position of being ‘shovel ready’ for development.

Further drilling on the cards for ASX gold stock

The company said more infill and extension drilling was being carried out with a view to extending the resource even further. A total of 14 holes is expected to be drilled as part of this campaign.

The company said it was well placed, given that the extensions to the resource estimate went beyond what was in last year’s feasibility study.

As the company said:

LJN4 represents an excellent development proposition and is now significantly larger than the resource considered in the feasibility study (released to the ASX on 23 July 2025), both in scale and detail, with the depth of information now available providing increased confidence in the viability of the proposed development and associated value available to be unlocked. With the feasibility study completion and the permitting process advancing, Magnetic is rapidly evolving to a position of being “shovel ready” for development.

The feasibility study released last year estimated an initial capital cost to build a mine of $375 million, and an average all-in sustaining cost of production of $1908 per ounce of gold.

This compares with the current price of gold in Australian dollars of $6902.28.

The mine was expected to have a life of nine years; however, that was calculated with a mineral reserve of just 997,300 ounces of gold.

Magnetic  Resources shares were changing hands for $1.41, up 4.4% on Monday morning.  

Magnetic Resources was worth $198.9 million at the close of trade on Friday.

The post This gold producer has just boosted resources at its flagship WA project appeared first on The Motley Fool Australia.

More reading

• A major change to the Djerriwarrh dividend is on the way
• How to build your first ASX share portfolio step by step
• Nickel Industries posts Q4 earnings and lifts outlook
• Guess which small cap ASX stock is rising on ‘watershed moment’ in the US
• ASX 300 stock jumps 6% on strong half-year results and cash flow surge

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

Polynovo Ltd (ASX: PNV) shares are on the move on Monday morning.

At the time of writing, the ASX 300 stock is up 6% to $1.28.

Why is this ASX 300 stock jumping?

Investors have been buying the medical device company’s shares following the release of first half results update before the market open.

According to the release, PolyNovo has reported unaudited group sales of $68.2 million for the first half of FY 2026, which represents a 26% increase year on year. Including BARDA revenue, total group revenue reached $70.4 million, up 17.6% on the prior corresponding period.

The result was once again underpinned by PolyNovo’s largest market, the United States. The ASX 300 stock revealed that U.S. sales climbed 25.3% to $51.7 million, reflecting continued adoption of its NovoSorb products across hospital settings.

Outside the U.S., the momentum was equally encouraging. Rest-of-world sales rose 28.3% to $16.5 million, supported by particularly strong performances in Australia, Canada, Germany, Ireland, and Turkey. This broad-based growth highlights the increasing global penetration of PolyNovo’s wound care solutions.

Another highlight was the performance of the NovoSorb MTX product. It delivered sales of $6.2 million during the half, which is up 195% year on year. While still smaller than the flagship NovoSorb BTM product, MTX is emerging as an increasingly important contributor as surgeon adoption accelerates.

Positive cash flow

Just as importantly, PolyNovo’s financial profile continues to strengthen. The ASX 300 stock generated operating cash flow of $9.5 million during the half. This is a sharp turnaround from the $12.5 million outflow recorded in the prior corresponding period.

Cash and cash equivalents stood at $29.3 million at the end of December.

Management also advised that construction of the new manufacturing facility has been completed on time, with only $2.2 million of capex remaining to be paid in the second half. This facility is expected to provide capacity to support growth for years to come.

Commenting on the half, the ASX 300 stock’s new CEO, Bruce Peatey, said:

We are pleased to see strong growth across key markets, supported by a broader adoption across multiple indications, new products, and expanded geographies—giving us confidence in continued momentum through 2026. In my second month, I prioritised a commercial deep dive in our U.S. office, meeting with leadership and regional sales teams in our San Diego office last week. I was impressed by the caliber and commitment of this well-tenured team and left with an optimistic view of PolyNovo’s runway for sustained growth in our largest market.

Peatey spoke positively about the company’s outlook in the US market. He adds:

The U.S. skin substitute market in the Outpatient and Non-Facility settings is undergoing significant transformation due to recent CMS policy changes, and PolyNovo is supportive of efforts to deliver efficient and effective outcomes for patients. While the changes are not expected to impact our existing hospital inpatient business, the outpatient setting presents a new space for PolyNovo and our U.S. team is actively reviewing our go-to-market approach in response.

PolyNovo remains committed to providing highly effective, cost-efficient options that improve patient outcomes and reimagine the standard of care. Looking ahead, we believe these initiatives, combined with expanding adoption of the NovoSorb platform, position PolyNovo for continued growth and innovation.

The post ASX 300 stock jumps 6% on strong half-year results and cash flow surge appeared first on The Motley Fool Australia.

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