Kaoko Metals Ltd (ASX: KAO) shares have shifted into top gear. The ASX small cap was up 160% to $1.91 during Wednesday afternoon trading, taking its gains to roughly 390% since its IPO in May 2026.

The shares have been rising so quickly that the ASX has issued Koako with what investors commonly call an ASX ‘speeding ticket’.

So, what’s behind the extraordinary move?

Copper find sends Kaoko shares soaring

Kaoko Metals is a mineral exploration company in Perth, focused on copper and other metals in Namibia.

The flagship asset of the ASX small cap is the Chalkos Copper-Silver Project in the prospective Kaoko Belt, where the company has recently commenced its maiden diamond drilling campaign.

The first results have certainly caught investors’ attention. Two completed drill holes at the Otniel prospect intersected broad zones of visible copper mineralisation.

One hole intersected 60.25 metres of visible copper mineralisation from 36.65 metres down-hole, including a stronger 32.36-metre zone. The second hole intersected 51.83 metres from 39.27 metres, including a 17.2-metre stronger zone.

The drill core contained several copper minerals, including chalcocite, malachite, cuprite, native copper and chalcopyrite. For a small, newly listed exploration company, broad zones of visible copper in the first holes of a maiden drilling program are naturally attracting plenty of investor interest.

And when a company’s market capitalisation is relatively small, roughly $45 million at the time of writing, a rush of buying can produce some extraordinary percentage gains.

Why did the ASX small get a ‘speeding ticket’?

Despite the name, Kaoko hasn’t been fined. An ASX ‘speeding ticket’ is an informal term for a price and volume query.

When a company’s shares experience an unusually large movement, the ASX can ask the company whether it is aware of any information that could explain the trading activity and whether it has complied with its continuous disclosure obligations.

In the case of this ASX small cap, the enormous share-price move has followed the company’s announcement about its encouraging copper drilling observations.

The speeding ticket is therefore not necessarily a negative development. It is essentially the ASX asking the company to explain the unusual market activity.

The big caveat for Kaoko investors

There’s an important catch. The copper mineralisation has been visually identified in the drill core, but the actual copper grades have not yet been confirmed by laboratory assays.

Those assays will be crucial. Kaoko expects the laboratory results in approximately four to six weeks. They should provide investors with a much clearer picture of the quality and potential economic significance of the mineralisation.

Until then, the ASX small cap remains a highly speculative exploration stock. The drill results have certainly given investors plenty to get excited about, but the assays will ultimately determine whether the spectacular share-price rally has substance behind it.

The post Why is this ASX small cap up 160% to get an ASX ‘speeding ticket’? appeared first on The Motley Fool Australia.

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Motley Fool contributor Marc Van Dinther 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 fallen further into the red on Wednesday. At the time of writing, the index is down around 1%, with declines across the majority of shares.

Inflation concerns, fears about more interest rate increases, and rising oil prices are spooking investors this week.

New Hope Corporation Ltd (ASX: NHC), Bank of Queensland Ltd (ASX: BOQ), and Santos Ltd (ASX: STO) are just some of the many companies under pressure today.

Let’s take a look at how their shares are tracking and what brokers tip next.

Hold New Hope shares

New Hope shares have fallen around 1.5% and are trading at $6.02 per share at the time of writing. After a rocky start to 2026, the thermal-coal miner’s shares are now up around 49% for the year to date.

New Hope’s operational picture has strengthened over the past couple of quarters, and its latest quarterly update in mid-August shows an increase in saleable coal production, higher coal sales, and an improved underlying EBITDA. 

The company also expects its Bengalla mine to return to its targeted production rate, and a ramp-up of production at its New Acland mine.

Brokers are mostly optimistic about the outlook for New Hope. But after the latest price rally, some are concerned that the shares are now fully priced. Market Index data shows the majority have a hold rating on the ASX shares. The $5.67 target price implies around a 6% downside, at the time of writing.

Hold BOQ shares

BOQ shares were caught up in an ASX bank stock sell-off throughout August. Investors have become spooked about how banks will cope with falling mortgage demand, a weaker housing market, higher inflation, and renewed concerns about interest rate hikes.

The intermediate bank’s shares have had a volatile run this year. They’ve fluctuated anywhere between a high of $7.43 and a low of $5.91. 

At the time of writing, BOQ shares are down slightly, around 0.1%, and trading at $6.56 a piece. The shares are now around 1% lower year to date.

In early August, BOQ announced a $295 million capital return to shareholders and a fully-franked special dividend of 15 cents per share.

The bank also reported a $47 million pre-tax ($33 million post-tax) impairment charge. This was related to technology and other asset reviews and will be recognised as a notable item in its FY26 results. BOQ is expected to post its full-year FY26 results in mid-October.

Investors weren’t thrilled with the update, and its shares tumbled around 6% shortly following the results announcement.

And it looks like the shares are still trading above fair value. According to Market Index, the majority of brokers have a hold rating on the shares. But the $6.06 average target price still implies a potential downside of around 8%, at the time of writing.

Buy Santos shares

Santos shares have trended higher so far in 2026, as recurring tensions between the US and Iran continue to fuel concerns over global oil supplies and support energy prices. 

Then, in mid-August, the shares spiked to a four-year high of $8.45 per share after the company posted its FY26 results.

Santos reported a 2% year-on-year increase in sales revenue to US$2.62 billion. Production volumes were also higher, up 1.7% to 48 million barrels of oil equivalent (mboe).

But the oil and gas giant also posted a 19% decline in its half-year statutory net profit after tax (NPAT), which fell to US$355 million. 

At the time of writing, Santos shares are down around 0.3% and changing hands at $8.26 per share. The share may have softened slightly today, but over the past month, Santos shares are up around 8%, and they’re 34% higher year to date.

And going forward it looks like they could climb even higher. Market Index shows that all brokers have a strong buy rating on the shares. And the $8.57 average target price implies a potential 4% upside, at the time of writing.

The post Buy, hold, sell: New Hope, BOQ, Santos shares appeared first on The Motley Fool Australia.

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

Aussies hoping that interest rates had peaked have received some unwelcome news this morning.

The latest economic growth figures came in stronger than expected, increasing the pressure on the RBA ahead of its September meeting.

The Australian Bureau of Statistics (ABS) reported that GDP rose 0.4% in the June quarter and 2.1% over the year.

Economists had expected quarterly growth of 0.3% and annual growth of 1.8%, while the RBA had forecast annual growth of 1.9%.

According to The Australian, there’s a 60% chance of a 25-basis-point rate hike this month. That’s up from 52% before the GDP figures were released today.

So, could borrowers be facing another rate hike this month?

Let’s dive right in.

GDP comes in ahead of forecasts

While the economy is growing at a steady pace, today’s numbers were above the RBA’s forecasts.

Household consumption increased 0.4% during the quarter and contributed 0.2 points to GDP growth. Discretionary spending rose 1.4%, although the ABS said almost half of that increase came from vehicle purchases.

Private investment was flat, while GDP per capita was unchanged during the quarter and rose 0.7% over the year.

Productivity was also weak, with GDP per hour worked flat in the June quarter and down 0.2% over the year.

And that gives the RBA another reason to keep a rate hike on the table, particularly with trimmed mean inflation still running at 3.6%.

Rate hike bets are climbing

The RBA left the cash rate unchanged at 4.35% in August after raising rates 3 times earlier in 2026.

At the time, it said inflation remained too high and warned there was still a risk it could stay elevated for longer.

It seems that the GDP result has given markets another reason to think the August pause may not last long.

Capital Economics head of APAC, Marcel Thieliant, told The Australian that “the bank will probably hike rates again before long, perhaps as soon as this month”.

The bond market also reacted, with Australia’s 3-year government bond yield rising to around 4.82% as traders increased their bets on another rate hike.

What happens next?

The next RBA decision is due on 29 September, which means there is still more data to come before the board meets again.

By then, the RBA should have a read on whether inflation and demand are easing enough to keep rates unchanged.

Nonetheless, all eyes will now be on what the RBA does at the end of the month.

The post Could the RBA really hike interest rates again this month? appeared first on The Motley Fool Australia.

More reading

• Buy, hold, sell: New Hope, BOQ, Santos shares
• Here’s how Fortescue, Rio Tinto and BHP shares stacked up in August
• Down 12% in a month: Is the rally finally over for CBA shares?
• Buying Qantas shares? Here’s what happened with the ASX 200 airline in August
• Why is the ASX 200 having its worst day in 3 months?

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.