The S&P/ASX 200 Index (ASX: XJO) is on course to record another decline on Tuesday. In afternoon trade, the benchmark index is down 0.2% to 8,605.8 points.

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

Bapcor Ltd (ASX: BAP)

The Bapcor share price is down 20% to $1.87. Investors have been selling this auto products retailer’s shares following the release of another disappointing update. Management advised that its performance in October and November was below expectation mainly in the Trade segment. In light of this, Bapcor now expects its statutory net profit after tax for the first half to be a loss in the range of $5 million to $8 million. For the full year, its statutory net profit after tax is now expected to be $31 million to $36 million. This is a downgrade on the guidance it provided in late October of $40 million to $50 million. Bapcor’s CEO, Angus McKay, said: “The weaker operational performance in October and November is disappointing. Although, the turnaround of the business is more challenging and taking longer than expected we are committed to doing the difficult work that will result in a stronger, more sustainable company.”

Emeco Holdings Ltd (ASX: EHL)

The Emeco share price is down 2.5% to $1.28. This follows the release of the mining equipment rental company’s investor day update this morning. While the update was filled with positives and highlighted its many opportunities, there was no update to its guidance for FY 2026. It is possible that some investors had been expecting an upgrade at today’s event. As things stand, Emeco still expects “moderate earnings growth” this financial year.

Liontown Ltd (ASX: LTR)

The Liontown share price is down 3% to $1.47. This is despite the lithium miner announcing an offtake agreement with China’s Canmax. The agreement will see the supply of 150,000 wet metric tonnes (wmt) of spodumene concentrate per year over two years in 2027 and 2028. Liontown’s Managing Director and CEO, Tony Ottaviano, said: “Their participation in our 2025 institutional placement signalled strong confidence in the long term potential of Kathleen Valley, and this Offtake Agreement reinforces their commitment.” While this is good news, it is possible that profit taking is weighing on its shares. After all, they remain up by 28% since this time last month despite today’s weakness.

PWR Holdings Ltd (ASX: PWH)

The PWR Holdings share price is down over 4% to $7.73. This follows news that this automotive cooling products company has appointed its new CEO. PWR Holdings advised that it has promoted its CFO, Sharyn Williams, to the top job. Given the company’s poor recent performance, it is possible that some investors were looking for an outside appointment with fresh ideas.

The post Why Bapcor, Emeco, Liontown, and PWR shares are tumbling today appeared first on The Motley Fool Australia.

More reading

• Why is the Bapcor share price crashing 19% on Tuesday?
• Liontown clinches Canmax deal: key details for investors
• Why are Liontown shares rising today and up 18% this week?
• Here are the top 10 ASX 200 shares today
• Leading brokers name 3 ASX shares to buy 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 positions in and has recommended PWR Holdings. The Motley Fool Australia has positions in and has recommended PWR Holdings. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Flight Centre Travel Group Ltd (ASX: FLT) shares are trading in the green in Tuesday lunchtime trade. At the time of writing, the Australian travel agency’s shares are 0.074% higher at $13.60 a piece. 

The shares have had a great run over the past month, climbing 18.67% after the company released a trading update in early November. In its presentation, Flight Centre’s Managing Director, Graham Turner, revealed that the company is off to a positive start for FY26. He said that first-quarter results and preliminary October trading data confirmed momentum across both corporate and leisure segments.

He added that the company’s Leisure segment isn’t out of the woods just yet, but the company thinks there are positive signs that the recovery is coming. 

Flight Centre also said it is targeting an underlying profit before tax of $305 million to $340 million in FY26. This represents a 5.5% to 17.6% increase on the prior corresponding period. Although the majority of this increase is expected in the second half of FY26. The travel group is expected to post flat H1 FY26 profit due to “cyclical challenges”.

Over the past year, Flight Centre shares have fallen 18.5%.

Buy, sell or hold Flight Centre shares?

I think that the current share price dip presents a great opportunity for investors to buy into the stock ahead of a potential price surge. The shares are currently trading around a five-year low and I think the chance that the share price could return to Flight Centre’s all-time high of $61.09 in 2018 at some point in the future isn’t completely off the table.

Analysts are mostly optimistic about the stock, too. Data shows that out of 14 analysts, 11 currently have a buy or strong buy rating on Flight Centre shares. The maximum target price is $18.26, which implies that the share could rocket 33.97% higher over the next 12 months, according to the share price at the time of writing.

Macquarie recently confirmed its outperform rating on the shares and raised its target price to $16.85. At the time of writing, this represents a potential 23.9% upside over the next 12 months. The broker said that the company is performing well and that it is confident Flight Centre corporate will deliver strong revenue growth through FY26 with improving margins as operational and cost initiatives come through.

The analysts at Jarden are more bullish on Flight Centre shares. In a note to investors, the team said it sees green shoots of recovery for the travel company. Jarden has a buy rating and $18 price target on the shares, which implies a potential 32.4% upside ahead.

The post Flight Centre shares drop 18% this year: Buy, sell or hold? appeared first on The Motley Fool Australia.

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• These ASX 200 shares rocketed 10%+ higher in November
• These are the 10 most shorted ASX shares
• Here are the top 10 ASX 200 shares today

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

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) has followed Wall Street’s lead and dropped into the red. At the time of writing, the benchmark index is down 0.2% to 8,609.6 points.

Four ASX shares that are not letting that hold them back are listed below. Here’s why they are rising:

Brightstar Resources Ltd (ASX: BTR)

The Brightstar Resources share price is up over 1% to 46 cents. This morning, this gold explorer released positive results from reverse circulation (RC) drilling at the Bull Oak and Havilah deposits, which are part of the Sandstone Hub. Brightstar’s managing director, Alex Rovira, commented: “These results from our Sandstone Hub continue illustrate the significant potential growth to our existing MRE. All of these drillholes, at both Havilah and Bull Oak, targeted zones outside of the existing resource and confirmed significant mineralisation in these areas.”

Immutep Ltd (ASX: IMM)

The Immutep share price is up 24% to 31.75 cents. Investors have been buying this late-stage immunotherapy company’s shares following the release of a promising announcement after the market close on Monday. Immutep has entered into a strategic collaboration and exclusive licensing agreement with Dr. Reddy’s Laboratories for the development and commercialisation of Eftilagimod Alfa (efti) in all countries outside North America, Europe, Japan, and Greater China. The agreement will see Immutep receive an upfront payment of US$20 million (~A$30.2 million). It will also be eligible to receive potential regulatory development and commercial milestone payments of up to US$349.5 million (~A$528.4 million), as well as double-digit royalties on commercial sales in these markets.

Pilbara Minerals Ltd (ASX: PLS)

The Pilbara Minerals share price is up 2% to $4.11. This may have been driven by a broker note out of Morgan Stanley. It notes that increasing use of energy storage systems due to the AI boom is driving demand for lithium. Given its strong organic growth opportunities, the broker feels that it is well-placed to benefit from any improvements in lithium prices.

Race Oncology Ltd (ASX: RAC)

The Race Oncology share price is up 8% to $2.89. This follows news that the oncology company has received and accepted an offer of a private placement from a supportive group of existing sophisticated shareholders. The company notes that the proceeds will fund the HARNESS-1 Phase 1a/b non-small cell lung cancer trial of RC220 in combination with Tagrisso. Race Oncology’s CEO, Dr Daniel Tillett, commented: “Race Oncology is extremely grateful to the shareholders who approached us to ensure that the HARNESS-1 trial is started without delay. We are blessed to have such supportive shareholders who share our belief in the potential of RC220 to transform cancer patients’ lives.”

The post Why Brightstar Resources, Immutep, Pilbara Minerals, and Race Oncology shares are roaring higher appeared first on The Motley Fool Australia.

More reading

• Guess which ASX 300 healthcare share is rocketing 28% on global expansion news
• Here are the top 10 ASX 200 shares today
• These are the 10 most shorted ASX shares
• Why Artrya, Clinuvel, Imugene, and Pilbara Minerals shares are storming higher today
• Lithium price rebounds 25% in 2025: Which ASX lithium shares are a buy?

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.

The S&P/ASX 300 Index (ASX: XKO) is extremely unlikely to leap 83% over the next 12-months, but this ASX 300 tech stock has been forecast to do just that.

That’s according to the analysts at Moelis Australia, who have a buy rating and bullish outlook on Nuix Ltd (ASX: NXL) shares.

Shares in the investigative analytics and intelligence software provider have come under heavy selling pressure since notching multi-year highs in early November 2024.

As we head into the Tuesday lunch hour, shares are flat today, changing hands for $1.845 each. That sees the Nuix share price down 70% year to date.

Now, here’s why the year ahead could be much more profitable for shareholders.

Nuix announces M&A expansion

Last Thursday, 4 December, Nuix reported that it had inked an agreement to acquire Linkurious, a France-based, graph-powered AI decision platform.

The ASX 300 tech stock said it would pay a maximum of 20 million euros (AU$35.4 million) for the acquisition.

Commenting on the agreement, Nuix interim CEO John Ruthven said:

The acquisition of Linkurious is an exciting accelerator for our strategic vision to enable our customers with insights from complex data at unparallelled speed and scale. This injection of graph-native expertise, proven link analysis technology and quality customers will allow us to bring immediate value to our customers.

The company expects the acquisition to be completed within the next four months.

Should you buy the ASX 300 tech stock today?

The team at Moelis are also optimistic on the potential growth presented by Nuix’s acquisition of Linkurious.

“We believe the agreed acquisition of Linkurious provides Nuix with an attractive growth opportunity and is strategically sound,” the broker said, citing the first reason you might want to buy the ASX 300 tech stock today.

The second reason is that Nuix has an existing relationship and familiarity with Linkurious.

According to Moelis:

Nuix already integrates with Linkurious, it understands how the technology performs. It has observed how customers value it. We believe this reduces the risks associated with the acquisition and is analogous to the successful acquisition of Rampiva (completed in July 2023).

And the third reason that Nuix shares look appealing today is because of the past year’s sharp sell-down.

Moelis noted:

Nuix’s share price has retraced significantly as recent operating performance fell below market expectations. On our estimates the current price undervalues the company. The acquisition of Linkurious highlights that Nuix has strategic options to support its Neo-led growth strategy.

Connecting the dots, the broker has a 12-month target price of $3.37 a share for the ASX 300 tech stock.

That represents a potential upside of 82.7% from the current Nuix share price.

The post 3 reasons this ASX 300 tech stock is forecast to leap 83% 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 no position in any of the stocks mentioned. The Motley Fool Australia has recommended Nuix. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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

When 2026 gets underway, Berkshire Hathaway (NYSE: BRK.A)(NYSE: BRK.B) will see the biggest change in its business in decades. That is when investing icon Warren Buffett hands the CEO reins to Greg Abel. Don’t fret, however, because Abel is being given a huge parting gift. Here’s one very large reason why now is a great time to buy Berkshire Hathaway stock.

Not such a big handover

The media has made a very big deal over Buffett’s decision to retire as CEO of Berkshire Hathaway. That’s not surprising, given his long history of success in running the company. However, it is important to note that he isn’t stepping away and cutting all ties. He will remain the chairman of the board of directors. This is important. 

Currently, Buffett is Abel’s boss. After Abel takes over the role of CEO, Buffett will still be his boss. The new CEO is likely to have free rein to manage the company as he sees fit, but only within reason. Buffett tends to be a hands-off manager, but he isn’t an absentee manager. He will likely make himself available to Abel as needed and provide a backstop if things start to go south. Abel needs to prove himself, but he isn’t flying solo. 

Furthermore, Abel isn’t entering the role with no experience. He has worked for Berkshire Hathaway for decades. He has spent the last few years as the designated heir apparent, meaning he’s likely been deeply involved in major decisions. Basically, he’s well-trained in Buffett’s investment approach. Given the success Buffett has achieved, it is highly unlikely that Abel tries to reinvent the wheel.

Abel is starting with a huge backstop

The primary reason to buy Berkshire Hathaway, even during this time of transition, is found on the balance sheet. It isn’t really one reason; it is 381 billion reasons. That’s the size of the cash hoard Abel is being handed as of the third quarter of 2025.

That $381 billion provides several benefits. It means there’s some leeway for Abel to make a mistake or two. It will provide support to the company when, not if, a bear market comes along. And it gives Abel plenty of firepower to buy companies, either outright or in part, in the public market. This is exactly what Buffett has long done as he’s built his successful track record.

In fact, in many ways, buying Berkshire Hathaway is really investing alongside the CEO. Historically, that meant giving Buffett your savings to invest. In the future, it will mean allowing Abel that privilege. Most investors should probably think of the company more like a mutual fund than an actual business.

That’s not hyperbole. Berkshire Hathaway’s portfolio of publicly traded stocks is closely followed by Wall Street. But beyond that, the massive conglomerate owns another 189 companies in their entirety. All of the company’s investments are treated similarly. Their management teams have a free hand so long as things are going as expected. If things aren’t going well, Buffett steps in to help. Abel will do that in the future, so the basic investment story is the same.

There’s never a bad time to hire a good asset manager

Abel will have to prove himself, but given the backstops he has, it seems like he’s being set up for success. Those backstops include Buffett’s continued presence at the company and, even more importantly, the massive cash balance he’s being handed to fund the company’s future growth. All in all, if you are a long-term investor, it could still be a great time to buy Berkshire Hathaway stock even as an important leadership transition is being made.

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

The post 1 reason now is a great time to buy Berkshire Hathaway stock appeared first on The Motley Fool Australia.

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

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

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• Warren Buffett is sending a clear warning as 2026 approaches: 3 things investors should do
• Warren Buffett, weeks before his retirement, has a warning for Wall Street. History says this may happen in 2026.
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• Buffett’s retirement imminent: Should you sell Berkshire Hathaway stock?

Reuben Gregg Brewer 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 Berkshire Hathaway. The Motley Fool Australia has recommended Berkshire Hathaway. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

CSL Ltd (ASX: CSL) shares are trading at $183.86 on Tuesday, down 0.88% at the time of writing.

It’s been a shocker of a year for the CSL share price.

The ASX 200 healthcare giant has lost 34.6% of its market capitalisation in the year to date.

Its share price woes really began in August after the company released its FY25 report.

CSL shares fell almost 20% to a six-year low within two days.

Investors were surprised by the scale of the company’s plans to cut costs and restructure the business, including the now delayed demerger of the Seqirus vaccines division.

There was also concern over revenue weakness in the Behring business, disappointing results from the Vifor nephrology business, bought for US$11.7 billion in 2021, and higher competition in the specialty products segment.

Other challenges, particularly in terms of research and development, have also caused issues for CSL over the past few years.

The failure of the CSL112 heart drug candidate in trials, alongside lower global vaccination rates following COVID-era vaccine mandates in many countries — including Australia, where vaccination was required for certain people to return to work — has impacted the business.

The biopharmaceutical giant cut its revenue and profit growth forecasts for FY26, and the shares hit a seven-year low of $168 in October.

We’ll find out how the company is tracking in FY26 when it releases its 1H FY26 results in February.

Here are the important dates for CSL investors in the new year.

Key dates for CSL investors in 2026

CSL will release its 1H FY26 results and announce its interim dividend on 11 February.

The ex-dividend date for the CSL dividend will be 10 March.

The record date will be 11 March and the dividend will be paid on 9 April.

CSL will announce its FY25 full-year results and final dividend on 18 August.

The ex-dividend date for the final dividend will be 9 September.

The record date will be 10 September and CSL will pay investors on 2 October.

CSL will hold its annual general meeting on 27 October.

What do the experts think of CSL shares?

Morgan Stanley has a buy rating on the ASX 200 biotech with a 12-month share price target of $256.

Jarden also has a buy rating with a price target of $283.

Citi also says buy with a price target of $225.

Morgans has a buy rating on CSL shares but reduced its share price target from $293.83 to $249.51 in October.

The broker commented:

Despite the majority of the business “tracking to plan”, FY26 cc guidance had been downgraded (2-3% at revenue and NPATA mid-points), mainly reflecting continued declines in US influenza vaccination rates, although Chinese government cost containment affecting albumin demand was also flagged.

Although it remains challenging to know when US influenza vaccination rates will stabilise, we believe the risk of a permanently lower base is being over-priced, with Seqirus and Vifor marked down, with even Behring trading below peers and well under its long-term average, which we see as unjustified.

The post Own CSL shares? Here are the key dates for 2026 appeared first on The Motley Fool Australia.

More reading

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• 2 big ASX 200 shares this fund manager rates as buys
• Brokers name 3 ASX shares to buy today

Citigroup is an advertising partner of Motley Fool Money. 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 CSL. 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.

The All Ordinaries Index (ASX: XAO) almost certainly won’t rocket 233% next year, but this promising ASX All Ords gold stock has been tipped to do just that.

The gold miner in question is Strickland Metals Ltd (ASX: STK), which is focused on its 100%-owned 7.4-million-ounce gold equivalent Rogozna Gold and Base Metals Project, located in Serbia.

In late morning trade on Tuesday, Strickland Metals shares are flat, trading for 18 cents apiece. This sees the share price up 100% in 2025.

And according to the team at Canaccord Genuity, the ASX All Ords gold stock could deliver even juicier returns in the months ahead.

Here’s why.

Should you buy the ASX All Ords gold stock today?

On 1 December, Strickland Metals reported on new exploratory drilling results from its emerging Kotlovi prospect, located within the Rogozna Project.

Canaccord noted that the “strong assay results” further confirm the prospect as a growing high-grade gold discovery.

“All three holes successfully intersected multiple mineralised zones, marking material advances in both grade and geometry,” Canaccord said.

The broker noted:

Kotlovi, situated only ~350m west of the 1.28Moz AuEq Medenovac deposit, continues to deliver wide, consistently mineralised intercepts that expand the known footprint and reinforce the broader district scale potential.

Canaccord is optimistic on the geology around the prospect, noting, “The diversity of host rocks and structural settings suggests a robust hydrothermal system with multiple pathways for gold deposition, analogous to the styles seen across the broader Rogozna corridor.”

And the ASX All Ords gold stock looks well-funded for ongoing exploratory drilling.

According to Canaccord:

Ongoing drilling activity at Rogozna are funded by A$41.8m in cash and liquids as at 30 September 2025. Seven rigs are currently operating, four targeting the Gradina gap zone and three focused on new discovery drilling, including further work at Kotlovi.

Investors can also look forward to fresh news from the project in the near term, which, depending on the results, could give the Strickland Metals share price a boost.

“Numerous assays remain pending, and additional updates are expected in the coming weeks, including a maiden resource over Gradina,” Canaccord said.

High risk for potentially high reward

Connecting the dots, Canaccord has a speculative buy rating on the ASX All Ords gold stock, with a 60-cent price target.

That represents a potential upside of 233.3% from current levels.

Canaccord stressed that this potentially outsized return is not without investment risk.

According to the broker:

Our valuation is risked to 50% given the model is unfunded and Gradina is pre-resource. Our scenario is preliminary in nature and should be viewed as a what-if case, given that no formal mining studies have been published.

The post Why this surging ASX All Ords gold stock is tipped to rocket another 233% appeared first on The Motley Fool Australia.

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• Up 146% in a year, ASX All Ords gold stock reveals ‘significant upside’ exploration results
• Guess which ASX All Ords gold stock is leaping 12% on big Serbian news
• Why Breville, Flight Centre, Mineral Resources, and Strickland shares are shooting higher

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.

Wondering which ASX blue chip shares to buy or sell? Let’s take a look at what analysts are saying about three popular options, courtesy of The Bull.

Here’s what they are recommending to their clients:

Medibank Private Ltd (ASX: MPL)

Catapult Wealth is feeling bearish about private health giant Medibank and has named it as a sell.

It has concerns about rising cost pressures, which it feels have created a challenging outlook for the company. It said:

MPL is a private health insurer. The Federal Government is attempting to encourage private health insurers to increase payments to private hospitals. Net profit after tax of $500.8 million in fiscal year 2025 was up a modest 1.7 per cent on the prior corresponding period. Profit before tax of $728.8 million was up 2.4 per cent. The company was recently trading on an annual dividend yield of 3.9 per cent. The risk of increasing cost pressures paints a challenging outlook. The shares have fallen from $5.26 on August 21 to trade at $4.545 on December 4.

Qantas Airways Ltd (ASX: QAN)

The team at Sanlam Private Wealth has put a sell rating on the shares of airline operator Qantas.

It feels that its earnings growth outlook is now more modest than in previous years and its fleet investments will require significant capital. In light of this, it feels that the Flying Kangaroo’s shares are now overvalued. Sanlam Private Wealth said:

The share price has run ahead of fundamentals, making it vulnerable to any possible downgrades, in our view. We believe the outlook for earnings growth is modest compared to the recent past. Fleet renewal plans and sustainability investments require substantial capital, which could potentially mute shareholder returns moving forward. The shares have risen from $8.02 on April 9 to trade at $9.74 on December 4, so investors may want to consider cashing in some gains.

Xero Ltd (ASX: XRO)

One ASX share that Catapult Wealth is feeling positive on is Xero. It has recommended the cloud accounting platform provider as a buy.

It was impressed with its performance during the first half of FY 2026 and believes that recent share price weakness has created a buying opportunity for investors. Especially given the potential for a meaningful re-rating of its share price if the US business starts to kick into gear. It said:

XRO is a global accounting software provider. Average revenue per user was up 15 per cent in the first half of 2026 when compared to the prior corresponding period. EBITDA was up 21 per cent. Rolling out bank feed connections in the United States will be a tail wind moving forward. In our view, the recent fall in the share price reflects a short-sighted assessment of revenue and subscriber growth rates. The US payments opportunity is significant, and any signs of successful execution and acceleration in growth will drive a meaningful re-rate.

The post Buy, hold, sell: Medibank, Qantas, and Xero shares appeared first on The Motley Fool Australia.

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

Some of the most compelling investments to own could be ASX small-cap stocks that are undervalued by the market.

Fund manager Wilson Asset Management has outlined two businesses in the WAM Microcap Ltd (ASX: WMI) portfolio that could be good performers in the coming years.

WAM Microcap, a listed investment company (LIC), is looking for the “most exciting undervalued growth opportunities in the Australian micro-cap market”.

Let’s take a look at which small businesses WAM likes.

Stealth Group Holdings Ltd (ASX: SGI)

The fund manager described Stealth Group Holdings as a diversified, multi-channel distribution business that supplies industrial, hardware, safety and consumer products to trade and retail customers across Australia.

During November 2025, the Stealth Group Holdings share price increased sharply (up 60%) after the company announced the acquisition of Hardware & Building Traders (HBT), Australia’s largest privately-owned hardware and industrial buying group.

The acquisition significantly increased the ASX small-cap stock’s scale, expanding distribution points from 32 to more than 1,200 independent retail and trade stores in Australia, raising purchasing volume by approximately $700 million and adding around 490 suppliers in the ecosystem.

The company increased its FY28 targets to more than $500 million in sales and provided profit margin targets that imply up to $40 million in net profit after tax (NPAT). The fund manager believes these targets are “relatively conservative” in the context of the “significant synergy potential and the company’s ability to undertake further acquisitions over time, none of which are included in these targets”.

Wilson Asset Management concluded on the ASX small-cap stock:

Whilst the share price increased by more than 60% over the month as investors priced in stronger medium-term growth and returns from the enlarged platform, we continue to see substantial re-rating potential.

EML Payments Ltd (ASX: EML)

WAM described EML Payments as a global payments solutions company that powers business processes “seamlessly for growth and exceptional customer experiences”.

During the month, the EML Payments share price fell 11% after the company revealed operating trends that were weaker than expected at its annual general meeting (AGM).

The company’s FY26 first quarter update revealed a decline of underlying earnings before interest, tax, depreciation and amortisation (EBITDA) of approximately 42% year over year, as well as a small decline in revenue. But, the company did reaffirm its full-year EBITDA guidance.

WAM noted that the update was interpreted by the market as a “weak” trading result, with soft top-line momentum.

Why does the fund manager like the ASX small-cap stock, considering these headwinds? WAM said:

Led by Chief Executive Officer Anthony Hynes, we continue to have confidence in his ability to execute on the turnaround and drive a re-rating of the share price.

The EML share price is now down around 30% in the past six months, making it a lot cheaper for interested investors.

The post 2 ASX small-cap stocks this fund manager thinks are buys appeared first on The Motley Fool Australia.

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Motley Fool contributor Tristan Harrison has positions in Wam Microcap. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended EML Payments. 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 mining stocks have been on fire lately, with rising global commodity prices and booming demand pushing share prices higher.

Two major companies grabbing headline attention recently are iron ore mining giant Fortescue Metals Group (ASX: FMG) and diversified base metal miner South32 Ltd (ASX: S32). Both miners have enjoyed a steep share price uptick over the past 6 months. But when it comes to 2026, it looks like only one ASX mining stock is tipped to continue climbing. 

Are Fortescue shares a buy?

At the time of writing on Tuesday morning, Fortescue shares are 0.59% higher at $22.21 a piece. Over the past 6 months, the stock has rocketed 41.7% higher and is now up 18.05% for the year to date.

The iron ore mining giant’s shares have been boosted by the recent resilience of the global iron ore price. Iron Ore fell to US$106.42 per tonne yesterday, down 0.76% from the previous day. Over the past month, Iron ore’s price has risen 2.36%, and is up 0.08% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity.

In its September quarter results, the miner reported that it had increased its total iron ore shipments up 4% to a new record level. Fortescue also said that for FY26, it is sticking to its guidance of 195–205Mt in total shipments, and plans to keep costs tight. 

It’s been a great year for the iron ore miner, and its share price has reaped a hefty reward. But I’m concerned that as a miner which is so reliant on the iron ore industry, any pull-pack in iron ore prices over the next 12 months could be devastating for the business.

Analysts are on the fence too. TradingView data shows the majority have a hold rating (9 out of 15) on Fortescue shares. Another 5 have a sell or strong sell rating. The average target price for the shares is $19.02, although some think it could fall to $16.20 over the next 12 months. This implies a potential downside as large as 26.9%, at the time of writing.

Are South32 shares a buy?

At the time of writing on Tuesday morning, South32 shares are down 0.15% to $3.40 each. Over the past 6 months, the stock price has climbed 12.01%, but unlike Fortescue, South32 shares are currently trading 1.73% lower than they were at the beginning of the year.

In its September quarterly report, the producer reported another strong period of operating performance. Its production highlights included a 12% increase on payable copper at Sierra Gorda, and a 33% uplift in manganese volumes. South32 has kept its FY26 production guidance unchanged across all of its operations.

Unlike Fortescue, which is heavily focused on iron ore, South32 produces essential base metals and minerals like aluminium, copper, zinc, and many others. The BHP spin-off is also focused on high-quality, low-cost assets and is transitioning towards critical metals for the energy transition. 

It’s this diversity that means the company is well positioned to benefit from rising demand and prices of a range of different metals and minerals. It also means the business is able to hedge itself against volatility in any one market. 

Analysts are bullish on the ASX mining stock too. Data shows 9 out of 14 analysts have a buy or strong buy rating on South32’s shares. The maximum target price is $3.91, which implies a potential 14.4% upside ahead for investors, at the time of writing. 

Which is the better ASX mining stock right now?

It looks clear to me that South32 shares have a much better potential for growth compared to Fortescue shares. While both have benefitted from the latest rally in global commodity pricing, South32’s diversity helps and growth plans mean it looks like a better investment opportunity for investors right now.

The post Best ASX mining stock to buy right now: Fortescue or South32? appeared first on The Motley Fool Australia.

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• 7 ASX mining shares to buy for Christmas amid upgrades from Macquarie
• ASX 200 mining shares outperform as iron ore and copper prices strengthen
• Here are the top 10 ASX 200 shares today
• Major ASX 200 mining shares hit 52-week highs
• What happened with BHP, Rio Tinto and Fortescue shares in November?

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 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.