Harvey Norman Holdings Ltd (ASX: HVN) shares are back under pressure on Friday, extending what has already been a bruising year for the retail giant.

In early afternoon trade, the Harvey Norman share price is down 3.33% to $4.65. Earlier in the session, the stock slipped to $4.625, marking a fresh 52-week low.

That leaves the stock down roughly 33% since the start of 2026, a sharp de-rating for one of the ASX’s best-known retail and dividend names.

The fall has dragged Harvey Norman shares back to late 2024 levels, underlining just how quickly sentiment toward consumer retailers has weakened this year.

So, is the sell-off starting to look overdone?

Selling pressure keeps building

The chart has remained almost one-way for most of 2026.

After starting the year above $7, Harvey Norman shares have steadily trended lower, with each bounce fading into renewed selling. And today’s break to a new 52-week low reinforces that momentum remains weak in the near term.

Part of the pressure appears tied to broader concerns around discretionary retail spending, particularly as higher living costs continue to weigh on household budgets.

The market may also be reassessing Harvey Norman’s valuation after its strong run through 2025. Back then, investors appeared comfortable paying a premium for its property-backed balance sheet, large fully franked dividends, and offshore growth exposure.

Even after the sell-off, Harvey Norman is still trading on a dividend yield above 6% based on the current share price.

Its latest fully-franked 14.5 cent interim dividend is due to be paid on 1 May.

Broker support suggests upside still exists

Despite the weak price action, not everyone has turned cautious on the retailer.

Earlier this month, Bell Potter retained a buy rating on Harvey Norman with a $6.70 price target. Based on the current share price, that implies potential upside of more than 40% from here.

The broker’s positive view appears to rest on a few key pillars. These include the company’s large freehold property portfolio, its diversified earnings mix across Australia and international markets, and ongoing store rollout opportunities offshore.

Those factors may be helping some investors look beyond the short-term retail slowdown.

Foolish Takeaway

Harvey Norman shares are now deep in correction territory, with the stock heavily down this year.

Despite weak momentum, the stock’s property backing, strong yield, and broker upside could keep value investors interested.

Right now, Harvey Norman looks like a stock caught between weak sentiment and a valuation that is starting to look more reasonable.

The post Harvey Norman just hit a 52-week low. Is this beaten-down ASX retailer becoming too cheap to ignore? appeared first on The Motley Fool Australia.

More reading

• 2 of the best ASX dividend shares to buy in April
• Why these ASX shares are rated as buys in April
• Bell Potter says this ASX 200 stock can rise 38% and pay a 6% dividend yield
• 5 things to watch on the ASX 200 on Thursday
• 20 ASX shares with ex-dividend dates next week

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

One of the more counterintuitive ideas I have come across in investing is this. Doing less can often lead to better results.

It does not sound right at first. We are conditioned to think that more effort leads to better outcomes. More research, more trades, more activity.

But when it comes to investing, I believe the opposite is often true.

The temptation to act

Markets are constantly moving. Prices go up, prices go down, and there is never a shortage of headlines telling you why. It creates a natural urge to do something. Buy this. Sell that. Adjust your portfolio.

I have felt that myself.

But over time, I have started to question whether all that activity actually improves returns. In many cases, I think it can do the opposite.

Trading frequently increases the risk of making emotional decisions. It can also lead to higher costs and taxes, which quietly eat into long-term performance.

Letting quality businesses do the work

When I think about the investments I feel most comfortable holding, they tend to be high-quality businesses with clear growth drivers.

Companies like CSL Ltd (ASX: CSL), ResMed Inc (ASX: RMD), or WiseTech Global Ltd (ASX: WTC) are not built to deliver their full value in a year or two.

In my view, they need time. Time to expand into new markets. Time to invest in innovation. Time to grow earnings and, ideally, reward shareholders along the way.

If I am constantly buying and selling, I am effectively interrupting that process.

The hidden power of inaction

What I find interesting is that some of the best investment outcomes tend to come from long holding periods.

Not because the investor made perfect decisions along the way, but because they avoided unnecessary ones.

By staying invested, you allow compounding to take hold. Returns generate returns, and over time that can lead to meaningful wealth creation.

It also removes a lot of the stress that comes with trying to time the market. Instead of worrying about short-term movements, the focus shifts to whether the underlying business is still on track.

When doing nothing is not the right move

Of course, I do not think doing nothing is always the answer.

If the fundamentals of a business change, or if the original investment thesis no longer holds, then it can make sense to reassess.

The key distinction, in my opinion, is between thoughtful decisions and reactive ones. Acting based on long-term reasoning is very different from reacting to short-term noise.

Building a portfolio you can stick with

I think this is where the idea of doing less really becomes practical. If I build a portfolio of businesses or ETFs that I genuinely believe in, it becomes much easier to stay the course.

That might include a mix of high-quality individual shares and broad market ETFs that provide diversification.

The goal, at least for me, is to reach a point where I am not constantly questioning every market move.

Instead, I can let the investments do their job.

Foolish Takeaway

Investing does not have to be complicated to be effective. In fact, I believe some of the best outcomes can come from a simple approach. Buy quality assets, hold them for the long term, and avoid the temptation to overreact.

Doing less does not mean not caring. It means focusing on what actually matters. And over time, I think that can make all the difference.

The post Why I think doing less could make you a better ASX investor appeared first on The Motley Fool Australia.

More reading

• Why is this ASX energy stock plunging today?
• This ASX dividend stock is now paying out more than 9%
• Could these ASX stocks double by the end of 2026?
• Up 635% in one year, guess which ASX energy share is rocketing again on Friday
• Should you buy Telix shares after its big US news?

Motley Fool contributor Grace Alvino has positions in CSL. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended CSL, ResMed, and WiseTech Global. The Motley Fool Australia has positions in and has recommended ResMed and WiseTech Global. The Motley Fool Australia has recommended CSL. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Shares in Beetaloo Energy Ltd (ASX: BTL) have plunged after the company revealed it had raised $66.3 million in new capital via a discounted share placement to institutional and sophisticated investors.

Skin in the game

The company said in a statement to the ASX on Friday that its directors had also agreed to invest in the capital raise, contributing $430,000 between them.

Existing shareholders would also be able to apply for new shares up to a total value of $5 million, at the raise price of 28 cents.

The company’s shares fell from the previous close of 32 cents on the news to be changing hands for 30 cents, down 13%.

The company said it also had access to a $45 million debt facility, which was earmarked for the refurbishment and construction of the Carpentaria gas plant and associated infrastructure.

Managing Director Alex Underwood said the capital raise put the company in a good position.

This Placement marks a pivotal moment for Beetaloo Energy. The participation by existing and new investors reflects genuine conviction in the potential scale of our Beetaloo Basin acreage and projects in the Northern Territory. The Placement received strong support from a broad range of existing and new shareholders including several Australian and international institutional investors. The Beetaloo Basin represents one of the most significant hydrocarbon opportunities in the world. Recent capital initiatives and commitments by Beetaloo Energy, Tamboran, Formentera Partners, Inpex and Santos will see approximately $1 billion invested in the basin over the next 18 months, representing a significant ramp up in activity. With this raising, combined with the upsized $45 million Midstream Infrastructure Facility (undrawn), we are now fully funded through to first pilot gas sales expected in Q4 2026, a milestone that we believe will be transformational for Beetaloo Energy and for Australia’s domestic gas supply.

The new capital raised would be used for the completion of the Carpentaria gas works, continued flow testing at the Carpentaria-5H well, long-lead items for the future work program, and the acquisition of additional seismic data, among other things.

Shares looking cheap

Canaccord Genuity recently issued a research note on Beetaloo Energy, with a speculative buy recommendation on the stock and a price target of 45 cents.

The analyst team said the company’s assets represented “an increasingly derisked opportunity”.

Canaccord said if Beetaloo’s pilot project proved commercial, “we expect majors to move quickly, with Beetaloo’s strategic foothold and first-mover advantage positioning it as a prime beneficiary of the basin’s potential re-rating”.

Beetaloo Energy was valued at $430.3 million at the close on Thursday.

The post Why is this ASX energy stock plunging today? appeared first on The Motley Fool Australia.

More reading

• This ASX dividend stock is now paying out more than 9%
• Could these ASX stocks double by the end of 2026?
• Up 635% in one year, guess which ASX energy share is rocketing again on Friday
• Should you buy Telix shares after its big US news?
• This ASX gold company is up more than 4% on promising early exploration results

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.

Atlas Arteria Ltd (ASX: ALX) shares have been on the slide recently, pushing the company’s expected dividend yield well past 9%.

The company’s shares have been trending steadily south since about the time the US launched attacks on Iran in late February. There has been no news from the company to explain the steady drift lower.

Dividend aspiration stated

The good news for shareholders, or shareholders to be, is that the company has signalled its intent to keep dividend payments steady at 40 cents per year.

In releasing its full-year results earlier this year, the company said, “Atlas Arteria continues to target future distributions of at least 40 cents per share, supported by growing free cash flow”.

At the current share price of $4.30, that equates to a hefty 9.3% dividend yield, albeit one which is unfranked.

The dividend is certainly not set in stone, but in releasing the full-year results, the company’s Chief Executive Officer, Hugh Wehby, said they were travelling well.

As he said:

2025 was another positive year for Atlas Arteria. We delivered strong revenue growth and steady traffic performance. We continued to build and optimise our businesses to improve safety and customer experience. This performance supports a 40 cents per share distribution for our investors for 2025, in line with guidance. Our refreshed vision – Partnering to deliver world-class road experiences – sharpens our focus. We invest in high-quality partnerships which strengthen our competitive positions and maximise value across our businesses and portfolio. We’re focused on building a resilient portfolio for the long term. That starts with getting the most out of the businesses we own – through strong performance and by pursuing value accretive growth opportunities, including preparing for upcoming French concession retenders. We’re also actively looking at new opportunities across OECD markets where we see strong fundamentals and the potential to deliver attractive returns for securityholders.

The company’s assets include toll road businesses across France, Germany, and the US.

Shares potentially looking cheap

Brokers following the stock also suggest there could be share price upside as well as a strong dividend yield. Of the 10 analysts surveyed by TradingView, the minimum share price target forecast is $4.31, while the highest comes in at $5.56.

The overall rating is neutral, with five of the 10 analysts giving the stock a hold recommendation.

The toll road operator was valued at $6.23 billion at the close of trade on Thursday afternoon.

The post This ASX dividend stock is now paying out more than 9% appeared first on The Motley Fool Australia.

More reading

• 5 things to watch on the ASX 200 on Thursday
• 6 ASX shares hitting 52-week lows amid today’s market rally
• Is it time to load up on these high-yielding ASX dividend shares?
• 3 ASX dividend shares yielding 9% (or more)
• Why Amplitude Energy, Atlas Arteria, Computershare, and Woodside shares are falling today

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.

The S&P/ASX 200 Index (ASX: XJO) has rebounded this week as sentiment towards the ongoing conflict in the Middle East is improving. 

Since last Thursday, Australia’s benchmark index has recovered roughly 4%. 

If this momentum continues, there are several notable ASX stocks that could be poised for strong growth. 

Here are five ASX stocks with lofty price targets from brokers. 

WiseTech Global Ltd (ASX: WTC)

WiseTech is a provider of logistics software that aims to improve the world’s supply chains. 

It has suffered along with many tech shares at the hands of artificial intelligence integration/takeover fears. 

This has resulted in a 45% fall year to date. 

However, brokers are anticipating a rebound in the mid-term. 

The team at Blackwattle are confident it will be one of the tech shares to emerge from this bear market. 

Additionally, Morgan Stanley has a buy rating on Wisetech along with a $70 price target. 

From today’s stock price of $37.43, that indicates approximately 87% upside. 

Seek Ltd (ASX: SEK)

Similar AI takeover fears have weighed heavily on Seek shares this year. 

The company behind the well-known online employment marketplace has seen its share price fall nearly 37% in 2026. 

Last month, the team at Citi acknowledged there are some headwinds coming for the company, but they still think it is undervalued.

The broker has a $26 price target on this ASX stock, which indicates an upside of roughly 76% from current levels. 

REA Group Ltd (ASX: REA)

REA Group is an online real estate advertising company that provides property and property-related services on websites and mobile apps across Australia, Asia, and North America.

So far in 2026, its share price has fallen by almost 15% and remains down 35% in the last year. 

Some estimates from brokers place a fair price target of $199 on this ASX stock, indicating an upside of 26%. 

Catalyst Metals Ltd (ASX: CYL)

Catalyst Metals is engaged in the mineral exploration, evaluation, and production of gold.

Like many gold shares, it enjoyed a strong run-up until January this year. 

Since then, it has dropped by more than 30%. 

However, 6 analysts’ forecasts on TradingView have an average one-year price target of $14.10, which is 110% above today’s opening stock price of $6.69. 

Vulcan Energy Resources Ltd (ASX: VUL)

Vulcan Energy is focused on providing lithium with a zero-carbon footprint to European electric vehicle manufacturers.

This ASX stock has fallen by approximately 15% year to date. 

Today, it is changing hands for roughly $3.72 per share. 

However, the average analyst stock price target on TradingView is $7.24, which is 94% above current levels. 

The post Could these ASX stocks double by the end of 2026? appeared first on The Motley Fool Australia.

More reading

• 7 ASX 200 shares just upgraded to strong buy ratings
• 2 high-quality ASX stocks to buy and hold long term
• 3 fantastic ASX shares that could help build long-term wealth
• Why Orora, Select Harvests, Tamboran, and WiseTech shares are sinking today
• How to invest $1,000 per month in ASX shares and build long-term wealth

Citigroup is an advertising partner of Motley Fool Money. Motley Fool contributor Aaron Bell has positions in WiseTech Global. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended WiseTech Global. The Motley Fool Australia has positions in and has recommended WiseTech Global. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

ASX energy share Elixir Energy Ltd (ASX: EXR) is leaping higher today.

Elixir Energy shares closed yesterday trading for 13.5 cents. In morning trade on Friday, shares are swapping hands for 14.7 cents apiece, up 8.9%.

To put today’s performance in some context, the S&P/ASX Small Ordinaries Index (ASX: XSO) is down 0.9% at this same time.

While investors who bought Elixir stock yesterday will certainly be pleased, it’s those forward-looking investors who bought shares a year ago that are likely jumping for joy.

Indeed, 12 months ago, you could have picked up the junior ASX energy share for just 2 cents. Meaning you’d be sitting on a gain of 635% right now.

Or enough to turn an $8,000 investment into $58,800.

In one year.

Now, here’s what’s stoking investor interest again today.

ASX energy share jumps on pipeline progress

Elixir Energy shares are surging after the company announced that it has commenced feasibility work on the Taroom Trough pipeline, located in Queensland.

The ASX energy share and APA Group (ASX: APA) have together agreed to complete the feasibility work to achieve the best means for Elixir’s northern Taroom Trough gas to reach the Wallumbilla Gas Hub (WGH).

Management said the joint feasibility work will support a final concept selection for the best pathway of gas produced from Elixir’s planned Lorelle pilot project to reach the WGH.

The company expects initial capital estimates and scheduling details to be delivered in approximately 12 weeks.

Also potentially offering a boost to the ASX energy share today, Elixir said it expects to produce “a significant quantity of associated condensate/light oil along with the gas” from its notional Lorelle pilot.

The company will conduct a separate path to market and plant study to optimise the sale and transport of these liquid volumes into the Queensland refining market at an unspecified future date.

Are Elixir Energy shares still a good buy today?

After rocketing 635% in 12 months, has the ship sailed on this ASX energy share?

Not according to the investment team at Euroz Hartleys.

In late March, the broker noted, “The Lorelle-3 results represent a key de-risking milestone in demonstrating the commerciality of Elixir’s Taroom Trough acreage.”

According to Euroz Hartleys:

The program mirrors the approach taken by neighbouring Supermajor Shell, which is progressing development directly on trend and is understood to have achieved commercial flow rates from the same reservoir.

The broker has a speculative buy rating on Elixir Energy shares with a price target of 19 cents.

That represents a potential upside of more than 29% from current levels.

The post Up 635% in one year, guess which ASX energy share is rocketing again on Friday appeared first on The Motley Fool Australia.

More reading

• Up 222% in a year, why this ASX energy share is forecast to more than double your money again
• How is this ASX energy share leaping 17% in Monday’s sinking market?

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

Telix Pharmaceuticals Ltd (ASX: TLX) shares are pushing higher on Friday.

At the time of writing, they are up 4% to $14.17 after a major regulatory update in the United States.

The radiopharmaceuticals company announced that the U.S. Food and Drug Administration (FDA) has accepted its resubmitted New Drug Application (NDA) for TLX101-Px (Pixclara), which is a potential imaging agent for brain cancer.

So, is this a buying opportunity for investors?

A major milestone, but not the finish line

The US FDA acceptance is a significant step forward for Telix.

According to the company, the regulator has now assigned a PDUFA goal date of 11 September, which sets a clear timeline for a potential approval decision.

This is important because it moves the product further along the regulatory pathway and reduces uncertainty around timing.

However, it is worth noting that acceptance is not approval.

There is still a review process ahead, and while the outlook may be positive, regulatory risk remains. Investors should be mindful that outcomes are not guaranteed.

Strong broker support adds confidence

Despite the risks, brokers appear optimistic about Telix’s outlook.

UBS recently placed a buy rating on the company with a $31.00 price target, suggesting that Telix shares could more than double in value from current levels.

Bell Potter is also positive and highlighted the importance of this regulatory catalyst. Earlier this week, it said:

The major short term catalyst is the regulatory update for TLX101 (Pixclara). The company has re-submitted the NDA and is now awaiting confirmation that the resubmission is accepted for review (which is a virtual certainty) at which time the FDA will also publish a PDUFA date. We expect a review period of 6 to 8 months, hence earliest possible approval is 4Q CY26.

The broker also pointed to broader progress across the pipeline. It adds:

The company continues to make good progress on multiple pipeline products. Short term news flow includes acceptance by the FDA of the resubmitted NDA for Pixclara and the amendment to the IND for TLX591 (prostate cancer Tx). We maintain our Buy rating. FY26 EBITDA is increased by ~US$21m to US$55.3m.

This combination of near-term catalysts and improving earnings expectations is helping support the investment case according to the broker.

So much so, it put a buy rating and $19.00 price target on its shares. This implies potential upside of 34% for investors from current levels.

Should you buy Telix shares?

The FDA acceptance is a meaningful milestone that brings Telix closer to unlocking additional value from its pipeline. Combined with bullish brokers and strong momentum across its broader portfolio, the outlook appears encouraging.

However, investors should remember that regulatory approvals are never guaranteed, and volatility is likely along the way. Nevertheless, this could be a good time to consider a patient investment in the radiopharmaceuticals company.

The post Should you buy Telix shares after its big US news? appeared first on The Motley Fool Australia.

More reading

• Up 31% in a month, why are Telix shares lifting off again on Friday?
• Where is the value amongst ASX healthcare shares?
• Telix Pharmaceuticals: FDA accepts Pixclara NDA
• Top brokers name 3 ASX shares to buy today
• 5 things to watch on the ASX 200 on Wednesday

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 Telix Pharmaceuticals. The Motley Fool Australia has recommended Telix Pharmaceuticals. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Shares in Tivan Ltd (ASX: TVN) are trading higher after the company said it had discovered high-grade copper and gold mineralisation at its Bacau and Ossu projects in Timor Leste.

Early stage results

The company said in a statement to the ASX on Friday that grades of up to 17.4% copper and 38.1 grams per tonne of gold were returned from assays of 12 rock chip samples collected.

High-grade cobalt at up to 0.45% was also returned from the assays.

The company said the results align with historic exploration results recorded by the previous holders of the concession, “providing additional confidence in the projects’ prospectivity”.

The results are from the first survey by Tivan’s geology team, the company said.

The company explained further:

The Baucau and Ossu Projects are located 123km east of the capital of Timor-Leste, Dili, along established transport corridors. Timor-Leste, situated in the southern Outer Banda Arc, is a geologically complex region where tectonic interactions between the Australian and Eurasian Plates result in significant mineral-rich formations. Despite its promising geological characteristics, Timor-Leste remains significantly underexplored with very limited historical exploration undertaken. The geological setting hosts some of the world’s most significant copper-gold deposits including Grasberg (Central Papua, Indonesia), Ok Tedi (Papua New Guinea), Wafi-Golpu (Papua New Guinea) and Pangora (formerly referred to as Bougainville, Papua New Guinea).

The company said the initial results were “outstanding and materially progress the historical record of geology in Timor-Leste”.

Further work in the pipeline

The company added:

Tivan is progressing planning for regional scale on-ground exploration activities in Q2, including further surface sampling and mapping, and is also reviewing existing geophysical datasets and planning to undertake additional geophysical surveys, to support target generation to advance the Projects towards drill targeting.

Tivan said it had acquired the projects in February from Beacon Minerals Ltd (ASX: BCN), which was awarded the licences on April 24 and undertook various fieldwork activities, including geological mapping, stream sediment sampling, rock-chip sampling, channel sampling, and ground geophysics.

The company is now working to progress joint ventures across the Ossu and Bacau projects with state-owned mining company Murak Rai Timor as required under the Timor Leste Mining Code.

Tivan Executive Chair Grant Wilson said regarding the results:

We are very pleased to share these results today, that will resonate deeply in Timor-Leste, particularly the discovery of high-grade gold. Tivan will be working closely with community and stakeholders in the Ossu and Baucau regions in the months ahead to consolidate our social license to operate and to plan forward works. Our local team remains at the forefront of these endeavors, working in close collaboration with ANM, Murak Rai and Instituto de Geociências de Timor-Leste.

Tivan shares were 3.9% higher in early trade at 33.5 cents. The company was valued at $748.4 million.

The post This ASX gold company is up more than 4% on promising early exploration results appeared first on The Motley Fool Australia.

More reading

• Why is this ASX energy stock plunging today?
• This ASX dividend stock is now paying out more than 9%
• Could these ASX stocks double by the end of 2026?
• Up 635% in one year, guess which ASX energy share is rocketing again on Friday
• Should you buy Telix shares after its big US news?

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.

Fortunately for investors, there are a lot of options to choose from in the Australian gold sector.

One ASX 200 gold stock that could be worth considering according to Bell Potter is Genesis Minerals Ltd (ASX: GMD).

In fact, the broker thinks this miner could be cheap at current levels. Let’s see what it is saying about this stock.

What is the broker saying?

Bell Potter notes that it is expecting the ASX 200 gold stock to deliver production a touch ahead of consensus expectations in the third quarter.

And while this still means lower production quarter on quarter, this is due to downtime relating to a change of contractor at the Gwalia operation.

In addition, the broker is expecting only a minor impact to costs from higher diesel prices for this quarter. However, it sees potential for costs to rise in future quarters if availability issues remain. It explains:

We forecast 3Q production of ~70koz (VA 69.5koz) which implies a slight reduction on QoQ production (74koz). We had assumed some downtime/ interruptions in productivity at Gwalia due to the change over in contractors, resulting in a forecast that was more conservative. Elsewhere, we see a continuation in performance from 2Q, with total processed grade declining slightly (2.3g/t to 2.1g/t). Our internal modelling suggests a minor impact to AISC from rising diesel costs with diesel representing ~4% (A$108/oz) of AISC prior to the closure of the Strait of Hormuz.

Assuming a ~75% increase in diesel costs sees the impact jump to ~A$199/oz. Should availability issues persist, GMD will be impacted alongside the rest of the WA mining industry, however there may be some internal levers which GMD may be able to pull to minimize the impact, focusing on Gwalia and stockpiled material through the mill would be the starting point.

An ASX 200 gold stock offering compelling value

In light of the above, Bell Potter believes that Genesis Minerals shares offer “compelling value” at current prices.

This is especially the case give its positive view on the gold price outlook. It explains:

We remain positive on the outlook for gold, given the ongoing tensions in the Middle East which has seen the commodity recover from recent lows of ~US$4,130/oz up to spot of ~US$4,746/oz (+15% from the low, -7.9% MoM). The GDX appears to have outperformed the underlying commodity, with MoM decline of only -3.16% and a rally from the low in Mar-26 of ~23%. On a 12m forward EV/EBITDA basis GMD has contracted to ~6.2x NTM EBITDA vs its peak of ~8x in Sep-25.

This places GMD slightly above Northern Star (NST, Buy TP$35) (5.1x NTM) but below Evolution (EVN, Buy TP$16.60) (7.1x NTM) in our mid-large cap gold coverage. The upcoming (1QFY27) long-term guidance targeting 500kozpa is likely to focus on two aspects we believe: (1) development of Tower Hill and a standalone 3.5-4Mtpa mill which should offset higher cost processing at Leonora and (2) development for Lady Julie (MAU transaction) which would supplement the Laverton mill with higher grade tonnes.

According to the note, Bell Potter has put a buy rating and $9.90 price target on the ASX 200 gold stock.

Based on its current share price of $6.47, this implies potential upside of 53% for investors over the next 12 months.

The post Which cheap ASX 200 gold stock could rise over 50%? appeared first on The Motley Fool Australia.

More reading

• 7 ASX 200 shares just upgraded to strong buy ratings
• 5 ASX shares I’d buy with $10,000 this week
• Here are the top 10 ASX 200 shares today
• ASX gold shares tumble as bull run faces its first big test in 1Q CY26
• Why ASX 200 gold stocks like Northern Star and Evolution Mining are storming higher today

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

Fortescue Ltd (ASX: FMG) shares are under slight pressure on Friday after the miner detailed the next stage of its Pilbara renewable rollout.

In morning trade, the Fortescue share price is down a modest 1.56% to $20.21.

Despite the dip, its 12-month gain sits at 35%, with the stock still well above where it traded this time last year.

Even with the shares easing today, the latest ASX announcement outlines plans to accelerate what it says is the world’s first replicable large-scale heavy industry green grid.

Let’s take a closer look at the release.

Fortescue brings forward giant Pilbara green grid rollout

The latest update is centred on Fortescue’s Pilbara operations, where it is moving faster on the rollout of an integrated renewable energy network. The goal is to replace diesel across some of its biggest mining assets.

Management said the system is expected to reach 290MW of installed renewable capacity by the end of this year, enough to power daytime “green processing” at its Pilbara iron ore facilities.

Later this year, the company expects the grid to run parts of its operations for 24-hour periods without fossil fuels, a milestone that moves its ‘Real Zero’ strategy ahead of the previously targeted December 2030 timeline.

By the end of 2028, Fortescue said the Pilbara network is expected to scale to 1.2GW of solar, more than 600MW of wind generation, and 4 to 5GWh of battery storage.

The company also said the wider profitable decarbonisation program is now targeting around 2GW of generation capacity, with future expansion phases potentially delivered over an 18-month period.

This includes electrification across fixed plant operations, AI-driven iron ore processing infrastructure, rail and port logistics, and on-site accommodation supporting around 10,000 workers.

Why investors may be looking beyond iron ore

Investors seem to be looking at what this project could mean beyond lower emissions.

Fortescue expects the first deployment phase to remove around US$100 million in fossil fuel costs next year. It is also anticipating site unit costs falling by at least US$2 to US$4 per metric tonne.

Management said the technology stack, battery systems, AI optimisation tools, and rollout model are all being designed to be replicable and licensable globally.

That gives investors a better sense of how this could become a second business alongside iron ore, which remains its biggest money maker.

Foolish bottom line

I think this is another positive step for Fortescue. The company is still using its iron ore business to fund growth, while also building out a second area through large-scale energy projects.

To me, that looks like the right direction for the long term. It adds diversification beyond iron ore. I think holding a sensible portion of shares in Fortescue could be a solid investment for investors comfortable with the ups and downs of commodity prices.

The post Fortescue shares ease, but this major update could keep momentum building appeared first on The Motley Fool Australia.

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• 3 reasons why this could be a great time to buy Fortescue shares!

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.