It has been another busy week for Australia’s top brokers. This has led to the release of a number of broker notes.

Three broker buy ratings that you might want to know more about are summarised below. Here’s why brokers think these ASX shares are in the buy zone:

CSL Ltd (ASX: CSL)

According to a note out of Macquarie, its analysts have retained their outperform rating and $330.00 price target on this biotechnology company’s shares. Macquarie has been looking at the impact that the US dollar could have on CSL’s financial performance. Although the broker suspects that it could act as a drag on its earnings in the immediate term, it believes it will give its earnings a boost from FY 2026. In the meantime, Macquarie continues to forecast CSL delivering double digit earnings growth over the next five years. This is thanks largely to the strength of its key plasma therapies business. In light of this, its analysts think that the company’s shares are attractively price at current levels. The CSL share price ended the week at $299.75.

Guzman Y Gomez Ltd (ASX: GYG)

A note out of Morgans reveals that its analysts have initiated coverage on this Mexican food-focused quick service restaurant operator’s shares with an add rating and $30.80 price target. Morgans is feeling upbeat about Guzman Y Gomez despite its sky high valuation. This is due to its strong long term growth potential and operating leverage. The broker believes that the company can achieve its aspirational target of 1,000 restaurants in Australia in the future. This is based on the assumption that it opens 30-40 restaurants each year. The Guzman Y Gomez share price was fetching $27.75 at Friday’s close.

TechnologyOne Ltd (ASX: TNE)

Analysts at Goldman Sachs have reiterated their buy rating on this enterprise software provider’s shares with an improved price target of $19.70. According to the note, the broker believes that the company has a significant long term opportunity in the UK market. Its analysts estimate that the opportunity could be three times larger than in Australia in key sectors. And with TechnologyOne only currently having minimal penetration, it notes that this creates a significant long-term growth runway. Especially given its confidence that TechnologyOne could displace the market leader in the education market. In light of this and with its valuation looking attractive, the broker believes that now is the time to snap up this tech stock. The TechnologyOne share price ended the week at $18.29.

The post Top brokers name 3 ASX shares to buy next week appeared first on The Motley Fool Australia.

More reading

• Why I invested in Guzman Y Gomez (GYG) shares this week for the long-term
• GYG share price ends the week at $28. Is $62 in its future?
• Brokers name 3 ASX shares to buy now
• Why Clinuvel, Guzman y Gomez, Magellan, and Sandfire shares are charging higher
• Morgans names the best ASX stocks to buy in July

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

ASX 200 uranium shares continue to benefit from the world’s nuclear embrace as many countries work on figuring out their green energy mix for the future.

The United States and 20 other countries have announced plans to triple their nuclear power by 2050. More on that later. First, let’s check out these top-performing stocks.

These 3 ASX 200 uranium shares outperformed

Rising global demand for uranium pushed the commodity price higher in FY24. This supported ASX 200 uranium shares and kept their prices rising, even though they’d experienced a ramp-up in FY23.

Here are the three best-performing ASX uranium shares for capital growth in FY24, according to data from S & P Global Market Intelligence.

Deep Yellow Limited (ASX: DYL)

Deep Yellow was the best-performing uranium stock on the ASX 200 last financial year. The Deep Yellow share price soared by 77.5% in FY24. This followed a 26.8% share price gain in FY23.

The ASX 200 energy stock closed at $1.41 on Friday, down 0.71%.

Paladin Energy Ltd (ASX: PDN)

The second top-performing ASX 200 uranium stock in terms of share price growth was Paladin Energy. This is the biggest uranium company listed on the ASX. It has a market capitalisation of $3.93 billion.

The Paladin Energy share price rose 71% in FY24. This built on a 25.9% share price gain in FY23.

Paladin shares closed at $13.01 on Friday, down 1.21%.

Boss Energy Ltd (ASX: BOE)

Rounding out the top three ASX 200 uranium shares of FY24 is Boss Energy, up 33.2% over the 12 months. This capitalised on an impressive 75.2% share price gain in FY23.

Boss Energy shares finished the week at $3.85 apiece on Friday, down 5.41%.

What’s the latest news on nuclear energy?

According to Trading Economics, 58 nuclear reactors are currently being built, 22 of which are in China.

In May, United States President Joe Biden signed bipartisan legislation banning the importation of uranium products from Russia because of its invasion of Ukraine.

Russia has previously provided 35% of the country’s nuclear fuel imports, according to the US Department of Energy’s Office of Nuclear Energy.

Dr Michael Goff, Acting Assistant Secretary for the Office of Nuclear Energy, described the legislation as “marking a monumental shift for our civil nuclear energy sector”. 

Dr Goff said:

This ban is essential to strengthening our nation’s energy security and supports the development of uranium conversion and enrichment services right here in the United States that will result in thousands of new jobs for Americans across the country.

We’re restarting old reactors, building new ones, and working to deploy advanced reactors to help us meet our clean energy goals. 

Meantime in Australia, the debate over nuclear energy is raging.

The Coalition Federal Opposition is pushing a comprehensive nuclear energy plan that would see retired coal-fired power stations replaced with nuclear reactors owned by the government.

Meanwhile, the Labor Federal Government is pushing ahead with its renewables agenda.

The post These top 3 ASX 200 uranium shares went nuclear in FY24 appeared first on The Motley Fool Australia.

More reading

• Best 5 ASX 200 energy shares for price growth in FY24
• Here are the top 10 ASX 200 shares today
• What will it take for DroneShield shares to enter the ASX 200?
• The best ASX 200 share of each market sector in FY24
• Why Boss Energy, DroneShield, Jumbo, and Raiz shares are falling today

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 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.

Do you own Liontown Resources Ltd (ASX: LTR) shares? If you do, you will no doubt be aware that it won’t be long until Liontown shifts from being a lithium developer to a lithium miner.

The company is aiming to commence production in a matter of weeks. This means it could soon be generating revenue and maybe even some earnings.

But just how profitable could Liontown be in the current environment of low lithium prices? Let’s see what Goldman Sachs is forecasting for the miner through to FY 2029.

Liontown earnings estimates

Firstly, it is worth noting that Goldman is among the most bearish brokers when it comes to lithium prices. So, its earnings estimates could prove short of the mark if prices improve quicker than it expects.

Though, conversely, it is equally worth noting that the broker has been among the most accurate predictors of lithium prices in recent times. So, these forecasts could end up being more precise than others.

Moving on. In FY 2025, Goldman is forecasting total spodumene production of 146kt. This is expected to underpin revenue of $143 million but an underlying loss of $162 million.

In FY 2026, total spodumene production is expected to increase to 439kt. Goldman believes this will lead to revenue of $585 million and a maiden profit of $19 million.

It will be onwards and upwards for the lithium miner from there. In FY 2027, Goldman expects spodumene production of 510kt, revenue of $794 million, and underlying earnings of $108 million.

After which, in FY 2028, the broker is forecasting spodumene production of 578kt, revenue of $985 million, and underlying earnings of $152 million.

Finally, in FY 2029, Goldman expects total spodumene production of 658kt. From this, the broker is forecasting Liontown to generate revenue of $1,326 million and underlying earnings of $330 million.

In summary, Goldman expects the following for underlying earnings:

• FY 2025 – $162 million loss
• FY 2026 – $19 million profit
• FY 2027 – $108 million profit
• FY 2028 – $152 million profit
• FY 2029 – $330 million profit

Should you buy Liontown shares?

Goldman thinks investors should keep their powder dry for the time being. It has a neutral rating and $1.15 price target on Liontown’s shares.

While this implies potential upside of 25% for investors, it still isn’t enough for Goldman to be more positive. Though, it concedes there could be significant value on offer here when risks reduce. It commented:

Though perceived funding risks are largely alleviated, and cost/ramp up risks appear increasingly priced in, we rate LTR a Neutral on: 1) Valuation, where LTR is trading at a modest discount to peers, though with significant potential valuation uplift from de-risking/valuation roll-forward and a high valuation sensitivity to our LT lithium pricing; 2) Ramp up/cost risks increasingly priced in; 3) Strong medium-term capacity outlook from large, high quality resource.

The post Here’s the earnings forecast to 2029 for Liontown shares appeared first on The Motley Fool Australia.

More reading

• ASX lithium shares: Screaming bargains or falling knives?
• Why the Liontown share price could jump 25%+
• 5 things to watch on the ASX 200 on Thursday
• Which ASX lithium shares are financially primed to survive this rut?
• Top 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 Goldman Sachs Group. 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 ASX mining share Rio Tinto Ltd (ASX: RIO) saw plenty of volatility over the 12 months ending 30 June 2024. Rio Tinto shares rose by 3.75%, while the S&P/ASX 200 Index (ASX: XJO) increased by 7.8%.

With China’s changing economic conditions, investors have had to accept an uncertain outlook for Rio Tinto shares.

The ASX mining share produces a number of commodities, including iron ore, copper and aluminium. Iron ore usually generates the lion’s share of the company’s earnings.

Things may be looking up for the miner after the iron ore price jumped to US$113 per tonne from around US$106 per tonne a week ago.

According to Trading Economics, there are hopes that China will introduce more stimulus measures at the upcoming Third Plenum this month and announce plans for “comprehensively deepening reform and advancing Chinese modernization.” A rising iron ore price supports the Rio Tinto share price.

The website said weak US data could also spur a rate cut, boost global demand, and support commodity prices.

Rio Tinto’s financial calendar follows the calendar year, while it was the Australian tax year that just finished. Let’s remind ourselves what Rio Tinto has reported during 2024 and what the earnings outlook is for the business.

Recent events

In February 2024, the business reported its 2023 full-year result.

It reported that operating cash flow dropped 6% to US$15.16 billion and free cash flow declined 15% to US$7.66 billion. Net profit after tax (NPAT) declined 19% to US$10 billion. In addition, the company cut the ordinary dividend by 12% to US$4.35 per share.

In mid-April, the business reported its 2024 first-quarter production result. This showed Pilbara iron ore production of 77.9mt, down 2% year over year and 11% lower than the fourth quarter.

Its first-quarter mined copper production was up 7% year over year to 156kt. Aluminium production was up 5% year over year to 826kt.

Outlook on Rio Tinto shares

The miner is working on a number of projects which could help future earnings.

It’s ramping up underground copper production at the Oyu Tolgoi mine in Mongolia. Rio Tinto and its partners are building a mine and 600km of new rail at the Simandou mine in Guinea (Africa) to unlock “incredibly high-grade iron ore,” which will “unlock low-carbon steel making.”

Finally, the Rincon lithium project in Argentina has seen progress in developing a small battery-grade lithium carbonate plant, where production is expected to start by the end of the year.

According to the estimates by the broker UBS, in FY24 Rio Tinto is expected to generate US$52.3 billion of revenue, NPAT of US$12.1 billion and pay a dividend per share of US$4.48. The balance sheet is projected to be in a net debt position of US$1.5 billion at the end of FY24.

In FY25, UBS predicts that Rio Tinto could generate US$52.5 billion of revenue, net profit of US$12.3 billion and pay a dividend per share of US$4.56. The balance sheet is projected to be in a net cash position of US$574 million at the end of FY25.

The post Are Rio Tinto shares worth digging into amid the miner’s FY25 outlook? appeared first on The Motley Fool Australia.

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• Guess which ASX All Ords stock just received another $18 million investment from Rio Tinto
• What is the outlook for ASX 200 dividend shares in FY25?
• Rio Tinto share price marching higher amid $426 million ‘industry-leading’ step
• What this expert predicts will be the best-performing ASX sectors in FY25
• Buy Rio Tinto and these ASX dividend shares in July

Motley Fool contributor Tristan Harrison 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.

A new month is here, so what better time to consider making some new additions to your income portfolio.

Five ASX dividend shares that could be worth considering in July are listed below. Here’s what you need to know about them:

Aurizon Holdings Ltd (ASX: AZJ)

The first ASX dividend share for income investors to consider buying is Aurizon. It transports more than 250 million tonnes of Australian commodities each year through its rail network.

Ord Minnett is bullish on the company and has an accumulate rating and $4.70 price target on the company’s shares.

As for income, it is forecasting partially franked dividends of 17.8 cents per share in FY 2024 and then 24.3 cents per share in FY 2025. Based on the latest Aurizon share price of $3.60, this will mean dividend yields of 4.9% and 6.75%, respectively.

Centuria Industrial REIT (ASX: CIP)

Another ASX dividend share to look at is Centuria Industrial. It is Australia’s largest domestic pure play industrial property investment company.

UBS is a fan of the company and has a buy rating and $3.50 price target on its shares.

In respect to dividends, the broker is forecasting Centuria Industrial to pay dividends per share of 16 cents in both FY 2024 and in FY 2025. Based on the current Centuria Industrial share price of $3.04, this represents dividend yields of 5.25% in both years.

Super Retail Group Ltd (ASX: SUL)

A third ASX dividend share to look at is Super Retail. It is the retail conglomerate behind the BCF, Supercheap Auto, Macpac, and Rebel store brands.

Goldman Sachs is positive on the company and has a buy rating and $17.80 price target on its shares.

As for income, Goldman expects fully franked dividends per share of 67 cents in FY 2024 and 73 cents in FY 2025. Based on its current share price of $13.70, this will mean yields of 4.9% and 5.3%, respectively.

Transurban Group (ASX: TCL)

Analysts at UBS think that Transurban could be an ASX dividend share to buy this month.

The broker currently has a buy rating and $14.80 price target on its shares.

Its analysts are forecasting dividends per share of 63 cents in FY 2024 and 66 cents in FY 2025. Based on the current Transurban share price of $12.38, this will mean yields of 5.1% and 5.3%, respectively.

Universal Store Holdings Ltd (ASX: UNI)

A fifth and final ASX dividend share that could be a buy is Universal Store. It is the youth fashion retailer behind the Universal Store, Perfect Stranger, and Thrills brands.

Morgans is feeling bullish about the company and has an add rating and $6.50 price target on its shares.

As well as major upside, the broker believes Universal Store is well-placed to pay big dividends in the coming years. It expects fully franked dividends per share of 26 cents in FY 2024 and then 29 cents in FY 2025. Based on the current Universal Store share price of $4.82, this will mean yields of 5.4% and 6%, respectively.

The post 5 ASX dividend shares to buy next week appeared first on The Motley Fool Australia.

More reading

• Broker says these ASX shares can rise 25%+
• The best ASX 200 shares to buy when interest rates fall
• Is this the best dividend share in the ASX 200?
• 3 top ASX retirement shares to buy for FY25
• ASX passive income: How to make $1,000 per month

Motley Fool contributor James Mickleboro has positions in Universal Store. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group, Super Retail Group, and Transurban Group. The Motley Fool Australia has positions in and has recommended Super Retail Group. The Motley Fool Australia has recommended Aurizon. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.