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.

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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.

The S&P/ASX 200 Index (ASX: XJO) is heading lower again on Tuesday as investors start September on the back foot.

At the time of writing, the benchmark index is down 0.31% to 9,048 points after falling as low as 9,023 points earlier in the session. That briefly put the ASX 200 at its lowest level in around 2 weeks.

The weakness is fairly broad, with 105 of the top 200 shares falling, 84 rising, and 11 unchanged at the latest count.

So, what is behind today’s move?

Bond yields and rates are back in focus

Wall Street gave the ASX 200 a weak lead overnight, with the Dow Jones Industrial Average Index (DJX: .DJI) falling 0.7%, the S&P 500 Index (SP: .INX) dropping 0.33%, and the Nasdaq Composite Index (NASDAQ: .IXIC) slipping 0.12%.

Higher oil prices and rising bond yields didn’t help.

Brent crude moved back above US$90 a barrel as fighting between the US and Iran picked up again, adding to concerns that higher energy prices could keep inflation elevated.

Bond yields are also moving higher. Australia’s 10-year government bond yield has climbed to around 5.19%, its highest level in 15 years, while the US 10-year Treasury yield is above 4.75%.

Interest rates are also back in the conversation again.

ANZ Group Holdings Ltd (ASX: ANZ) now expects the RBA to lift the cash rate by 25 basis points to 4.60% in November, citing persistent inflation and resilient household spending.

That follows a stronger-than-expected July inflation report, while the latest ANZ-Roy Morgan survey showed consumer confidence falling 2.6 points to 74.9 last week.

Ex-dividend moves are adding to the decline

Part of today’s fall also comes down to several large ASX 200 shares trading ex-dividend.

That means investors buying the shares today won’t receive the latest dividend, which can see the share price fall by roughly the value of the payout.

Wesfarmers Ltd (ASX: WES) shares are down 3.89% to $76.35, Woolworths Group Ltd (ASX: WOW) shares have dropped 2.70% to $39.22, while Fortescue Ltd (ASX: FMG) shares are 2.03% lower at $17.34.

Resources are limiting the damage

It isn’t all red across the market, with higher commodity prices helping several large resource shares.

Woodside Energy Group Ltd (ASX: WDS) shares are up 1.85% to $33.02, and Santos Ltd (ASX: STO) shares have gained 2.21% to $8.32 as oil prices rise.

BHP Group Ltd (ASX: BHP) shares are also 0.59% higher at $66.62, while Rio Tinto Ltd (ASX: RIO) shares have added 0.50% to $175.68.

That support has helped keep the ASX 200 above 9,000 points, after it briefly moved closer to that level earlier in the session.

The post The ASX 200 is falling again. What’s behind the sell-off? appeared first on The Motley Fool Australia.

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

S&P/ASX All Ords Index (ASX: XAO) shares are 0.3% lower at 9,240.3 points on Tuesday.

With earnings season now over, brokers have updated their ratings and 12-month price targets on hundreds of ASX shares.

Top broker Morgans reckon these three ASX shares are going to rip over the next year.

Here’s why.

Airtasker Ltd (ASX: ART)

The Airtasker share price is 22 cents, down 2.3% today and down 46% over 12 months.

Morgans kept its buy call on this ASX communications share after reviewing Airtasker’s FY26 report.

The broker has a 12-month price target of 47 cents, suggesting a potential near-120% upside ahead.

Morgans said:

Airtasker’s (ART) FY26 result was broadly in line with our expectations.

Group revenue grew ~10% on pcp to A$57.8m (marketplaces revenue ex-OneFlare +15.5% to A$52m), and its earlier stage offshore marketplaces (UK/US) showed accelerating momentum and strong topline growth (+55%/150% respectively).

ART also announced media deals with OML and Nova, extending the brand investment runway (media inventory to deploy from FY27 now ~A$24m).

betr Entertainment Ltd (ASX: BBT)

The betr Entertainment share price is steady at 20 cents on Tuesday, and down 33% over 12 months.

Morgans reiterated its buy rating on this ASX retail share after the company’s FY26 results.

The broker has a target price of 36 cents, implying a potential 80% upside over the next year.

Morgans said:

BETR Entertainment (BBT) finished the year strongly, with normalised EBITDA of $6.1m in the second half against guidance of $5m to $8m, a $19.3m swing on the first half.

Full year normalised EBITDA of -$7.1m was a touch below our -$6.2m, with a gross profit beat offset by a higher cost of doing business.

Encouragingly, current trading remains healthy. Through the first eight weeks of FY27, turnover is up more than 20%, new customers have almost doubled, CPA is down 31% and promotional cost is down 9%, all excluding the FIFA World Cup.

The company announced the launch of its new first to market ‘Wildcards’ same game multi (SGM) feature that will launch during the Wildcard AFL round this weekend.

Mach7 Technologies Ltd (ASX: M7T)

The Mach7 Technologies share price is steady at 28 cents today, and down 10% over 12 months.

Morgans reaffirmed its buy rating on the ASX healthcare share after reviewing Mach7’s FY26 report.

The broker raised its 12-month price target from 44 cents to 48 cents.

This suggests a potential 70% upside ahead.

Morgans said:

The market should be broadly comfortable with the result given recent trading updates, but new contract delivery remains the key requirement before investors are likely to begin marking the stock materially higher.

Revenue and OPEX landed broadly in line with guidance, while the NPAT miss was driven by a A$1.9m restructuring charge and a weaker tax benefit rather than deterioration in the core subscription business.

Moderate increase in target price due to model roll-forward, lower share count, and leaner-than-expected cost base.

Upside potential to target presents an opportunity but needs new contract momentum to spark renewed interest.

The post 3 ASX shares tipped by broker to rise 70% to 120% appeared first on The Motley Fool Australia.

More reading

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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 Mach7 Technologies. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Airtasker. 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.