The S&P/ASX 200 Index (ASX: XJO) notched a record closing high on 6 August and ended the month up 1.1%, but these five ASX 200 shares went the other direction.

Below, we look at five large-cap ASX companies that investors would have done well to avoid in August.

Centuria Capital Group (ASX: CNI)

Centuria Capital shares tumbled 17% in the month just past, closing out August trading at $1.22 apiece.

The real estate funds manager reported its FY 2026 results on 27 August.

The company reported operating earnings before interest, taxes, depreciation and amortisation (EBITDA) of $182.5 million and a 12.9% year-on-year increase in operating net profit after tax (NPAT) to $113.8 million.

But amid sticky inflation and potential further interest rate hikes, the ASX 200 share just closed out a month to forget.

Charter Hall Group (ASX: CHC)

Charter Hall shares were also best avoided in August.

Shares in the Aussie property investment and funds manager fell 17.2% over the month to close at $19.32 each.

Charter Hall released its FY 2026 results on 21 August.

Shares closed down 6.3% on the day, despite the company reporting operating earnings of $488.1 million. Operating earnings per security (OEPS) post-tax of 103.2 cents were up 26.8% from FY 2025.

But Charter Hall could also face headwinds if the Aussie property market struggles with higher interest rates for longer.

JB Hi-Fi Ltd (ASX: JBH)

The third ASX 200 share that had a month to forget is electronics retailer JB Hi-Fi.

JB Hi-Fi shares closed on 31 August trading for $66.90 each, down 18.3% for the month.

JB Hi-Fi shares plunged 12.3% on 17 August after the company reported its FY 2026 results.

On the positive side of the ledger, JB Hi-Fi achieved record revenue of $11.06 billion, up 4.8% year on year. And on the bottom line, the company reported a net profit after tax (NPAT) of $489.9 million, up 6%.

But investors were pressuring JB Hi-Fi shares amid concerns that FY 2027 could be a tougher year. Indeed, the company reported a 1.4% decline in comparable sales growth for JB Hi-Fi Australia for July.

Life360 Inc (ASX: 360)

Life360 shares also got walloped in August, falling 21% to end the month trading for $20.25 each.

Shares in the location-sharing software developer crashed by 19.4% on 11 August after the company released its second-quarter (Q2 2026) results.

Positively, Life360 achieved a 38% year-on-year increase in revenue to US$159 million. And adjusted EBITDA of US$31.1 million were up 53%.

However, the company’s second-quarter net income of US$5.1 million was down 17.8% from Q2 2025, while Life360’s net income margin (NIM) fell to 3%, down from 6% a year earlier.

Generation Development Group Ltd (ASX: GDG)

The fifth ASX 200 share to get heavily sold down in August is diversified financial services business Generation Development.

Generation Development shares tumbled 22.6% to close out the month trading for $3.18 apiece.

Shares closed down 15.4% on 27 August following the release of the company’s FY 2026 results.

On the plus side, the company achieved a 23% year-on-year increase in revenue to $178.7 million, with funds under management (FUM) rising 37% to $46.5 billion.

And Generation development reported underlying NPAT of $40.7 million, up 21% from FY 2025.

However, statutory NPAT fell 10% year on year to $31.9 million. And costs increased faster than revenue, with the company reporting a 26% increase in its operating expenses.

The post The five worst-performing ASX 200 shares in August unmasked appeared first on The Motley Fool Australia.

More reading

• 2 ASX shares highly recommended to buy: Experts
• 1 ASX dividend stock down 42% I’d buy right now
• 4 ASX shares I’d buy with $5,000 in September
• 3 ASX growth shares to buy in September
• 9 ASX 200 shares with strengthened buy ratings this week

Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Life360. The Motley Fool Australia has positions in and has recommended Life360. The Motley Fool Australia has recommended Generation Development Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Santos Ltd (ASX: STO) shares are up around 2% to $8.28 at the time of writing.

Today’s increase means the shares have rebounded 8% over the past month and are up 35% for the year-to-date. The oil and gas major’s shares are also around 4% higher than 12 months ago.

Why are Santos shares climbing higher?

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

The shares spiked in February and March, around the time news first broke that conflict had escalated between the two nations. The shares continued climbing in value as the war heated up.

Rising oil prices were the main tailwind for Santos shares, as tight oil supply made prices highly volatile. 

But every time there is renewed optimism about a potential US-Iran peace agreement, the price of oil softens, and the Santos share price follows suit. In June and July the share price tumbled before rebounding again over the past month.

In mid-August, after the company posted its half-year FY26 results, Santos shares reached a multi-year high of $8.45 a piece.

The company 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 Santos also posted a 19% decline in its half-year statutory net profit after tax (NPAT), which fell to US$355 million. 

Santos also managed to generate free cash flow from operations from its strong base business performance.

The company is well placed to increase its production in the coming reporting periods, which could help boost earnings.

What do brokers tip for the ASX energy shares over the next 12 months?

Brokers are mostly bullish on Santos shares, with the majority tipping upside.

Market Index data shows all brokers have a strong buy rating on the shares. The $8.57 average target price implies an upside of around 3% over the next 12 months, at the time of writing.

Sentiment is similar on TradingView. The majority (13 out of 15) have a buy/strong buy rating on the shares. One rates Santos as a hold, and another rates it as a sell.

The $8.72 average target price implies a slightly higher 5% upside ahead, but some tip the shares to jump another 25% to $10.42 by this time next year.

Citi reaffirmed its buy rating on the ASX 200 energy share following its half-year update. The broker also increased its target price to $9, which is a little above the average.

Morgans maintained its hold rating on Santos shares following the announcement. The broker noted that the results beat estimates, but that it is impossible to quantify the risks posed by the Federal Government’s gas reservation policy ahead of its release. 

The post Santos shares rebound 8% in a month: Buy, sell or hold? appeared first on The Motley Fool Australia.

More reading

• 5 things to watch on the ASX 200 on Tuesday
• 5 things to watch on the ASX 200 on Monday
• 5 things to watch on the ASX 200 on Friday
• 5 things to watch on the ASX 200 on Thursday
• 5 things to watch on the ASX 200 on Wednesday

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.

ASX gold shares have had a strong month, and Morgan Stanley thinks investors may have another reason to keep watching the sector.

Aussie gold stocks have jumped 33.9% over the past month, lifting the sector’s weight in the S&P/ASX 200 Index (ASX: XJO) to around 6.1%.

The gold price has been doing a lot of the work. Spot gold is trading around US$4,456 an ounce at the time of writing, up almost 10% over the past month.

However, Morgan Stanley says the bigger story for miners could be the amount of cash they are set to generate.

Plenty more cash ahead

The broker expects the top 10 Australian gold miners to generate significantly more cash through to FY29.

If that plays out, companies could have more room to lift dividends, expand share buybacks, or strengthen their balance sheets.

Of course, a lot will depend on where the gold price goes next.

The market is currently pricing in a fairly big pullback, with consensus forecasts pointing to gold falling towards US$4,000 an ounce by FY29.

Morgan Stanley is more positive than that. Its commodities team expects gold to be around US$4,450 an ounce by late 2026 and believes it could trade above US$5,000 during 2027.

There are also some decent signs on the demand side.

According to The Australian, gold ETFs attracted around 70 tonnes across July and August, reversing the outflows seen in May and June.

Central banks have also stayed active, buying 345 tonnes in the first half of 2026, with China and Poland among the larger buyers.

If that demand holds up and gold prices stay around current levels, the cash flowing through the sector could remain pretty strong.

Northern Star is already returning cash

Northern Star Resources Ltd (ASX: NST) shares are up 0.68% to $23.60 at the time of writing and have gained around 18.6% over the past month.

Its FY26 result showed what a higher gold price can do, with revenue rising 19% to $7.62 billion and underlying EBITDA increasing 22% to $4.27 billion.

Northern Star declared a fully-franked final dividend of 30 cents per share and has also started a $500 million on-market share buyback, with $129 million completed by the FY26 result.

However, the company is still spending heavily, with FY27 capital investment expected to reach $2.55 billion to $2.94 billion as the KCGM expansion ramps up.

Evolution has taken it further

Evolution Mining Ltd (ASX: EVN) shares are up 0.24% to $14.915 and have climbed more than 32% over the past month.

The miner reported record FY26 group cash flow of $1.39 billion, up 76%, and increased its dividend payout target to around 60% of annual group cash flow.

That helped lift its full-year dividend to a record 41 cents per share.

Keep in mind that gold prices can still move quickly, particularly as interest rate expectations change.

But if Morgan Stanley is right, ASX gold miners could have a lot more cash to return to shareholders over the coming years.

The post ASX gold shares have surged 34% in a month. Morgan Stanley says this could come next appeared first on The Motley Fool Australia.

More reading

• ASX gold shares soared 34% in August. Is the run over?
• 5 things reporting season taught ASX investors about FY27
• Northern Star shares slide 5% as investors digest another surprise
• Why Liontown, Northern Star and Telstra shares are turning heads on Monday
• 5 things to watch on the ASX 200 on Monday

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.