S&P/ASX 200 Index (ASX: XJO) shares are up 0.4% to 9,014.6 points on Thursday.

Let’s check out some new ratings on ASX shares today.  

Magellan Financial Group Ltd (ASX: MFG)

The Magellan Financial Group share price is $8.54, up 2.8% today and down 19% over 12 months. 

Morgans has an accumulate rating on this ASX 200 financial share after Magellan’s FY26 results.

The broker said: 

MFG’s group operating profit after tax (A$145m) was down 9% on the pcp (A$159m) and 2% above consensus (A$142m).

Guidance was the main factor weighing on the result, with management flagging numerous headwinds for FY27 — which shapes up as a consolidation year — alongside signs of a slowdown in Barrenjoey growth in 2H26 (despite otherwise impressive overall numbers).

Our price target falls from A$11.26 to A$10.25. While MFG faces some near-term pressures, we continue to believe the company is well positioned to drive medium-term growth.

South32 Ltd (ASX: S32)

The South32 share price is $5.19, up 0.7% today and up 97% over 12 months.

Morgans downgraded this ASX 200 mining share from accumulate to hold after South32’s FY26 report.

The broker said:

With S32’s share price outperforming even its pure-copper ASX peers year-to-date on larger cycle leverage, we downgrade our rating to HOLD (from Accumulate).

S32 delivered a broadly in line FY26 result, with FY27 guidance on unit cost and capex reflecting existing market expectations of continued cost pressure.

Don’t count on S32 returning a meaningful part of the Alcoa deal proceeds, with the company going as far as talking down its commitment to its ordinary dividend.

Similar to some of its peers, S32’s earnings have enjoyed a healthy upcycle, our concern is that it is starting to increasingly look factored in (while the company arguably swaps its earnings clout for a mid-cycle M&A war chest post Alcoa deal).

Australian Finance Group Ltd (ASX: AFG)

The Australian Finance Group share price is $1.52, up 2.2% today and down 43% over 12 months. 

Jonathan Tacadena from MPC Markets has a sell rating on this S&P/ASX 300 Index (ASX: XKO) financial share. 

On The Bull this week, Tacadena said:  

This mortgage broking group reported net profit after tax of $49 million in full year 2026, up 39 per cent on the prior corresponding period.

AFG grew its network to more than 4300 brokers. While profit growth looks good on paper, the company faces a difficult operating backdrop, in our view.

Australia’s property market is slumping, and the major banks recently confirmed residential mortgage applications had been significantly falling since the Federal Government’s budget in May. AFG’s earnings momentum appears difficult to sustain moving forward.

The valuation should be pricing in rising volume risk, not last year’s growth. We see more downside than upside.

The post Buy, hold, sell: South32, Australian Finance Group, Magellan shares appeared first on The Motley Fool Australia.

More reading

• 5 ASX shares downgraded by Morgans post-results
• Buy, hold, sell: South32, Mineral Resources, BHP shares
• Don’t panic if these 9 ASX 200 shares fall today
• Buy, hold, sell: Boss Energy, Magellan, and NextDC shares
• ASX 200 mining shares outperform in final week of earnings season

Motley Fool contributor Bronwyn Allen has positions in Magellan Financial Group. 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.

Wildcat Resources Ltd (ASX: WC8) shares are up by more than 120% over the past 12 months, but according to the analyst team at Shaw and Partners that could just be the start of something much bigger.

Shaw and Partners has released a new research note on the company in the wake of Wildcat releasing new drilling results from its Tabba Tabba project in Western Australia.

The broker has a very bullish share price target on the company which I’ll get to shortly.

First let’s look at what the company announced.

Strong drilling results across the board

Wildcat released new drilling results from its Bolt Cutter Central deposit, including both exploration and infill drilling.

The results included intersections such as 8m of 1.5% lithium oxide from a depth of 89m, and 16m at 1.5% from 116m.

Wildcat said Bolt Cutter extended over an area of 2.3km by 0.8km and the mineralisation remains open in most directions.

The company said:

Excellent results from infill drilling continue to demonstrate the strength and continuity of lithium mineralisation at Bolt Cutter Central, with broad, strongly mineralised pegmatites intersected from near surface and extending down dip through the system. Drill targeting and planning of drilling for potential value-add and extensional step-out areas will commence post completion of the maiden resource targeted for delivery in Q4 this year.

The company also reported “excellent” results from metallurgical and infill drilling at the Tabba Tabba deposit, with intersections including 25.1m at 1.2% lithium oxide.

Wildcat said regrading this drill campaign:

Drilling was designed to support ongoing technical studies for the Definitive Feasibility Study (DFS), including the collection of representative material from the Hutt and Chewy pegmatite groups for further metallurgical and resource characterisation. Infill drilling was also undertaken in areas where previous drill rig access constraints had resulted in comparatively wider drill spacing, providing additional geological information and increased confidence in the interpretation of these areas.

The company said that a definitive feasibility study for Tabba Tabba was on track for delivery in the second half of 2026.

Wildcat said it was well-funded, with $37.2 million in cash at the end of June.

Shares looking cheap, broker says

Shaw and Partners said the lithium market was tightening, boding well for Wildcat.

The broker said:

Lithium markets have moved from the oversupplied conditions of the past two years toward renewed tightness as EV demand re-accelerates and high-cost supply continues to be rationalised. Even a short disruption, or even the prospect of a prolonged one, will support spot pricing and reinforce the bullish narrative we have been building around the lithium price over the past 12mths. We see this combination: a tightening global supply picture out of Chile and a high quality, low-cost, expanding WA discovery pipeline at Wildcat, as a bullish setup for WC8 shareholders, and we reiterate our positive stance on lithium equities into the 4Q26 resource catalyst window.

Shaw and Partners has a price target of $1.60 on Wildcat shares compared to 39.5 cents currently.

The post This ASX lithium project developer could rise more than 300%: Broker appeared first on The Motley Fool Australia.

More reading

• Wildcat Resources delivers more high-grade lithium drill results
• Up 109%! 3 reasons this ASX All Ords lithium stock is still a buy today
• Buy, hold, sell: Centuria Industrial REIT, Endeavour, Wildcat Resources shares
• Experts name 3 ASX shares to buy this week

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.

ASX dividend shares had a very good August, with the largest payout increases in years.

Reporting season also produced dozens of dividend cuts.

Three S&P/ASX 200 (ASX: XJO) names stood out, and one of them goes ex-dividend today.

The best ASX dividend shares grow the payment year after year.

All three of these companies have an outstanding record of doing just this.

1. BHP Group

BHP Group Ltd (ASX: BHP) produced the standout raise of the season.

The final dividend came to US$0.99 per share, or roughly A$1.38, an increase of about 51.5% on last year.

The full-year payment reached US$1.72 per share fully franked, up 56% and the highest in four years.

The shares go ex-dividend today, with payment following on 23 September.

BHP explained the return clearly in its results:

This brings total cash returns to shareholders announced for the year to US$8.7 bn, which is US$1.72 per share fully franked, the highest in four years.

FY26 revenue rose 15% to US$58.8 billion and underlying profit jumped 30% to US$13.2 billion.

Copper prices rose 18% across the year, iron ore gained 7% and metallurgical coal climbed 39%.

2. Woolworths Group

Woolworths Group Ltd (ASX: WOW) delivered a strong combination of growth and payout of these stocks.

The final dividend rose 15.6% to 52 cents per share.

Impressively, FY26 sales reached $71.54 billion with EBITDA up 6.7% and net profit after tax rising 15.4%.

The company’s shares closed August at $40.31 and are up 33.7% so far this calendar year.

However, at such valuation levels, there is reason for caution.

A supermarket growing profit at 15% is doing well, and a supermarket rerating 33.7% in eight months is doing something else entirely.

The dividend growth is strong, though the yield has compressed as the shares have run.

3. Coles Group

Coles Group Ltd (ASX: COL) raised its final dividend 15% to 37 cents per share.

FY26 sales rose 2.8% to $45.58 billion, EBIT grew 9.9% and net profit after tax increased 13.7%.

Coles is the cheaper of the two supermarkets, but also the slower grower.

The company’s sales growth of 2.8% trails Woolworths, though its earnings growth was close enough for this not to be a major concern.

For income investors, the more modest rerating leaves a better starting yield.

Why these ASX dividend shares could continue to raise payouts

The common thread is pricing power rather than cost cutting.

BHP benefited from commodity prices moving in its favour across every major division.

Both supermarkets passed inflation through to shoppers while volumes held up.

None of the three relied on a balance sheet decision to fund the increase, which is what separates a sustainable raise from a one-off.

Foolish takeaway for ASX dividend shares

Of the three, Coles offers the best value and the least excitement.

Woolworths has the stronger momentum and the harder valuation to justify after a 33.7% run.

BHP has the largest raise and the most cyclical earnings behind it.

Investors chasing ASX dividend shares should focus on whether the underlying business can repeat the payment.

On that test, the supermarkets look more dependable and BHP looks more rewarding.

The post Top 3 ASX 200 shares that lifted their dividend this reporting season appeared first on The Motley Fool Australia.

More reading

• Own BHP, Woodside or Coles shares? Here’s what investors should know
• 5 things to watch on the ASX 200 on Thursday
• BHP shares are falling – is it time to take profits?
• Here’s how Fortescue, Rio Tinto and BHP shares stacked up in August
• Why is the ASX 200 having its worst day in 3 months?

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