Treasury Wine Estates Ltd (ASX: TWE) shares are higher on Thursday, giving investors a bit of relief after a rough start to the year.

In afternoon trade, the Treasury Wine share price is up 1.73% to $3.825.

That is a solid bounce from the $3.34 low it hit on 26 March, which was its lowest level in about 10 years. The last time the stock traded around this price was back in April 2014.

Even after today’s gain, Treasury Wine shares are still down roughly 27% in 2026, showing just how tough the sell-off has been.

The rebound suggests some investors may be starting to believe the worst could now be priced in.

Why buyers may be stepping in

One reason buyers appear to be returning is the growing view that Treasury Wine may now be trading below what its assets are worth.

According to The Australian, broker CLSA believes the company’s wine brands and inventory could be worth far more than the current share price suggests.

The broker estimated Treasury Wine’s net tangible assets were about $3.40 per share at the half-year result and could rise to $3.70 by FY27.

It also suggested an adjusted valuation of $7.10 per share, helped by the value of premium wine stock and major brands like Penfolds.

That big gap between the share price and estimated asset value may be encouraging bargain hunters to buy after the recent fall.

Another positive sign is that French investor Olivier Goudet has reportedly continued buying shares, steadily building his stake in the company.

The sell-off may be slowing

The chart also suggests the heavy selling may be starting to settle down.

The $3.34 level now looks like an important support zone, which simply means buyers have stepped in around that price.

Since then, the shares have bounced back toward $3.80, which is often a sign that sellers are losing control.

If the recovery continues, the next area investors may watch is around $4, followed by the previous trading range near $4.50.

Momentum indicators are also improving.

The relative strength index (RSI), which helps show whether a stock has been sold too heavily, has lifted from oversold levels.

Foolish Takeaway

Treasury Wine still has work to do after its weak half-year result, softer US sales, and concerns about growth in China.

But after falling to decade lows, today’s rebound suggests some investors are starting to see value in this ASX 200 blue chip again.

If earnings stabilise and confidence returns, Treasury Wine could become one of the ASX’s biggest turnaround stories this year.

The post Treasury Wine shares hit 10-year lows last week. So why are buyers stepping in now? appeared first on The Motley Fool Australia.

More reading

• These are the 10 most shorted ASX shares
• Here are the top 10 ASX 200 shares today
• 6 ASX shares at 52-week lows: Buy, hold, or sell?
• Treasury Wine shares just tumbled to 14-year lows. Screaming bargain or falling knife?
• 3 top blue-chip ASX 200 shares that look dirt cheap right now

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

If you are looking for big returns in the mining sector, then it could be worth hearing what Bell Potter is saying about one ASX mining stock.

That’s because it believes this stock could more than double in value over the next 12 months.

Which ASX mining stock?

The stock that Bell Potter is recommending to clients with a high tolerance for risk is Viridis Mining and Minerals Ltd (ASX: VMM).

It is a minerals exploration and development company with seven projects across three countries.

However, Bell Potter notes that the majority of the value in the business is focused on its Colossus ionic adsorption clay (IAC) project in Minas Gerais, Brazil.

Bell Potter highlights that the company is closing in on a final investment decision for the project. It said:

VMM are rapidly progressing towards a Final Investment Decision (FID) (BPe 2HCY26) for the Colossus project, which is targeting production commencement in 2028. Ahead of that, the company has been progressing offtake arrangements, facilitated by governments in particular the US and EU. We suspect the ultimate direction of offtake will depend on optimising 1) funding for the US$358m capital cost of Colossus, and 2) maximising shareholder value via contract pricing (i.e. maintain the greatest amount of leverage to underlying prices).

The most critical catalysts over the coming months are 1) Demonstration plant commissioning (BPe April) 2) production offtake (we’re expecting a mix of floor and market linked price, with payabilities 70% or greater), 3) submission of construction licence application (BPe April) and 4) Finalisation of financing, predominantly debt (~US$250m) with a smaller portion of strategic equity/ public equity (~US$50-$80m).

The broker also highlights that the ASX stock’s valuation is very attractive compared to peers. It adds:

It’s the land of opportunity. The relative value of VMM vs peers remains stark in our opinion. Peers such as Meteoric (MEI, Buy Spec $0.25/sh, market cap A$440m), which is developing a similar project adjacent to VMM (Caldeira), and Aclara (ARA.TSX, not covered, market cap C$700m), which has a lower-grade and higher cost project in Brazil (although has further optionality downstream).

Big potential returns

According to the note, the broker has a speculative buy rating and $4.30 price target on the ASX mining stock.

Based on its current share price of $1.95, this implies potential upside of 120% for investors.

Commenting on its recommendation, Bell Potter concludes:

The world is shifting, major global producers Lynas (LYC, Hold $19.00/sh) and MP Materials (MP, not covered) have price floors in place now covering the US and Japan. We are yet to see price floors extended to Europe to guarantee offtake and security of supply.

The examples have been set as to what an acceptable price is now, with shared participation above certain levels, and preference ascribed to those who can provide a Light Rare Earth (NdPr) and Heavy Rare Earth (Dy, Tb, Y, Sm) solution. Our valuation is increased to $4.30/sh after accounting for the recent capital raise and we maintain our Buy (spec) recommendation.

The post Which ASX mining stock could rise 120% according to a leading broker? appeared first on The Motley Fool Australia.

More reading

• Why did the ASX 200 just plunge 1.4% in Thursday afternoon trade?
• $5,000 invested in Droneshield shares 4 months ago is already worth…
• Treasury Wine shares hit 10-year lows last week. So why are buyers stepping in now?
• 2 ASX 200 mining shares this fund manager is backing for long-term growth
• After a positive trading update 2 brokers agree this stock is 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.

ASX 200 mining shares are leading the market on Thursday, as resources companies recover from the March sell-off.

The S&P/ASX 200 Index (ASX: XJO) is currently up 0.5%, with the materials sector today’s strongest riser, up 0.8%.

After a 32% surge in CY25, the materials sector managed just a 1.1% gain over 1Q CY26.

This was largely due to the war in Iran creating an ongoing oil shock, which threatens to limit ASX miners’ production and earnings.

The materials sector fell 14.1% in March, but a rebound appears underway, with the materials index reversing course last Tuesday.

Blackwattle Investment Partners discussed several ASX mining shares in its recent round of monthly newsletters.

Here’s what the fund manager had to say about the market’s largest diversified ASX mining share and its biggest lithium producer.

BHP Group Ltd (ASX: BHP)

The BHP share price is $52.88, up 0.6% today.

The market’s largest ASX 200 mining share fell 11% over the past month, but is still 38% higher over 12 months.

Blackwattle holds BHP shares in its Large Cap Quality Fund.

Portfolio managers Joe Koh and Elan Miller said BHP delivered a “solid” 1H FY26 result.

Both EBITDA and NPAT were +3% ahead of consensus driven primarily by a strong performance from the Copper division which is now the largest contributor to earnings for BHP (surpassing Iron Ore).

FCF generation was also strong and led to debt repayment and better than expected capital management in the form of dividend.

The managers believe BHP will continue to outperform the market, adding:

BHP continues to extract value from its portfolio, announcing the sell down of Antamina’s silver-stream for US$4.3bn while maintaining their (BHP’s) exposure to the Copper, Zinc and Lead at the mine.

BHP has identified a further US$4b of potential value to be unlocked from within their portfolio which should continue to see BHP outperform the market.

BHP called out ex China, European demand picking up, US remains steady and India continues to grow, and we believe given tight supply and fundamental demand for commodities keeps BHP well placed to benefit moving forward.

PLS Group Ltd (ASX: PLS)

The PLS Group share price is $5.21, down 1.8% on Thursday.

The market’s largest ASX 200 lithium mining share has skyrocketed 238% over the past 12 months.

PLS Group shares have risen alongside a remarkably strong recovery in lithium commodity prices since mid-2025.

The ASX 200 mining share has also benefited from changed global supply/demand dynamics since major producer, Zimbabwe, announced export limits to encourage the development of on-shore downstream processing.

Blackwattle holds PLS Group shares in its Mid Cap Quality portfolio.

Portfolio managers Tim Riordan and Michael Teran said PLS Group operates relatively low-cost, long-life lithium mines.

They note the company’s strong balance sheet, which they said provides flexibility and a competitive advantage to indebted peers.

Riordan and Teran said:

We continue to see material upside for PLS as an ‘improving quality’ business and view PLS as the highest quality, lithium miner on the ASX.

PLS delivered a strong 1H26 result and announced the signing of a 2-year offtake agreement with strong price floors and unlimited
price upside, cementing PLS’s position as the go-to lithium spodumene producer.

This has allowed PLS to de-risk the restart of its higher cost Ngungaju spodumene plant, driving significant potential earnings upside in FY27.

PLS is finally seeing the benefits from the P1000 expansion, and PLS is extremely well placed to benefit from any further recovery in lithium prices, with strong operations and significant production growth optionality, allowing for continued shareholder value creation through the cycle.

The post 2 ASX 200 mining shares this fund manager is backing for long-term growth appeared first on The Motley Fool Australia.

More reading

• Buying ASX 200 mining shares? Here’s how Rio Tinto, Fortescue and BHP stacked up in March
• Why sitting out this ASX share market chaos could cost you big
• Should I buy PLS Group shares in April?
• Why now could be the perfect time to buy ASX dividend stocks
• How are these 5 ASX share giants really tracking in 2026?

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

Acrow Ltd (ASX: ACF) this week reaffirmed its guidance for this year and for the first time put out guidance for the following year.

Shares looking cheap

The analyst teams at both Shaw and Partners and Morgans have run the ruler over the trading update and both believe Acrow shares are undervalued at the moment.

We’ll get to their specific share price targets shortly.

Firstly let’s have a look at what Acrow told the market this week.

The company, which specialises in hiring out construction-related assets such as scaffolding, said it was “experiencing improving activity levels across Australia, as anticipated”.

The company added:

During March, Acrow secured new hire contracts totalling $14.3 million, representing the highest monthly value of contract wins in the Company history, exceeding the previous record by over $2.5 million. Improving activity levels have also driven a materially stronger sales pipeline, which stood at $256.0 million as at the end of March, representing an increase of 34% on pcp and another record level.

Acrow said it had a strong trajectory heading into the fourth quarter of the financial year, which it expected to be its strongest for the year.

It added:

As a result of these outcomes, together with a general improvement in trading conditions, especially within the Queensland formwork business, where hire revenue in March reached its highest level in over 12 months, the Company is confirming FY26 revenue and EBITDA guidance.

The company’s guidance was for sales of $315-$325 million and EBITDA of $80-$84 million.

Acrow also said the strong trading performance should generate “significant momentum” heading into FY27.

It added:

This is supported by a confirmed forward order book in the Industrial Access division and the significant uplift now evident within the formwork markets, particularly in Queensland. Collectively, these factors provide the Board with the confidence to issue early FY27 revenue and EBITDA guidance, with revenue expected to be in the range of $335 million to $350 million and EBITDA in the range of $88 million to $98 million.

Analysts like what they see

The team at Morgans analysed the expected trading for Acrow and came up with a 12-month price target of $1.28 for Acrow shares, compared with 88.7 cents currently.

Morgans said the trading update was “encouraging” and added:

Initial FY27 guidance was a positive surprise. While broadly in line with consensus, we view the early guidance as conservative and achievable, reflecting management’s confidence in the outlook. Importantly, FY27 guidance also implies an improvement in EBITDA margins, suggesting a favourable shift in sales mix toward the higher margin Formwork segment.

The team at Shaw and Partners came up with a priuce target of $1.25 for Acrow shares, with a buy rating on the stock.

The post After a positive trading update 2 brokers agree this stock is a buy appeared first on The Motley Fool Australia.

More reading

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• Which All Ords builder could benefit from Brisbane’s big Olympics build?

Motley Fool contributor Cameron England 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 out of form on Thursday and dropping into the red. In afternoon trade, the benchmark index is down 0.45% to 8,631.7 points.

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

KMD Brands Ltd (ASX: KMD)

The KMD Brands share price is down 55% to 7 cents. Investors have been selling the Kathmandu and Rip Curl owner’s shares after it raised funds to recapitalise. The company’s placement and institutional entitlement offer raised combined gross proceeds of approximately $44.2 million at an offer price of NZ$0.06 per new share. KMD’s CEO and managing director, Brent Scrimshaw, said: “We are pleased with the support for the institutional component of the equity raising. The raise will strengthen KMD’s balance sheet and position us to continue executing our Next Level transformation. We now look forward to inviting our retail shareholders to participate in the equity raising.”

Tamboran Resources Corp (ASX: TBN)

The Tamboran Resources share price is down 10% to 30 cents. This morning, the energy explorer announced flow rates from the Shenandoah South 6H. Despite the market’s negative reaction to the results, the company’s CEO, Todd Abbott, was pleased. He said: “The SS‑6H flow test has safely and successfully delivered the technical information we were seeking, with the well demonstrating strong, stable performance and low decline characteristics. Over the last five days of the test, we noted behavior of the gas rate similar to the performance of the SS2H ST1 well. This aligns with our view that these wells will continue to clean up with extended production testing and deliver shallower decline profiles in early production.”

Whitehaven Coal Ltd (ASX: WHC)

The Whitehaven Coal share price is down 1.5% to $9.09. This may have been driven by profit taking from some investors after strong gains over the past 12 months. During this time, the coal miner’s shares have risen over 70%.

WiseTech Global Ltd (ASX: WTC)

The WiseTech Global share price is down 4% to $38.82. Investors have been selling WiseTech Global and other ASX tech stocks today after Donald Trump gave an update on the US-Iran war. It seems that optimism that the war could end very soon is fading, which has led to oil prices rebounding and sentiment shifting negatively. This has led to tech stocks reversing much of the strong gains they made on Wednesday. According to CNBC, Trump has said the U.S. is going to “hit” Iran “extremely hard” over the next two or three weeks.

The post Why KMD, Tamboran Resources, Whitehaven Coal, and WiseTech Global shares are falling today appeared first on The Motley Fool Australia.

More reading

• Why is this ASX stock crashing 60% today?
• The best time to buy shares? It might be right now
• Are investors running scared of WiseTech shares?
• Why are ASX 200 tech stocks like WiseTech and Life360 going gangbusters on Wednesday?
• These were the best-performing ASX 200 shares in March

Motley Fool contributor James Mickleboro has positions in WiseTech Global. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended WiseTech Global. The Motley Fool Australia has positions in and has recommended WiseTech Global. 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 given back its morning gains and is on course to record a decline. At the time of writing, the benchmark index is down 0.2% to 8,650.7 points.

Four ASX shares that are rising today despite the market decline are listed below. Here’s why they are pushing higher:

Greatland Resources Ltd (ASX: GGP)

The Greatland Resources share price is up 5% to $13.66. This appears to have been driven by a broker note out of Citi this morning. According to the note, in response to positive drilling results, the broker has upgraded the gold miner’s shares to a buy rating (from neutral) with an improved price target of $16.00 (from $15.30). This implies potential upside of 17% for investors even after today’s strong gain.

Newmont Corporation (ASX: NEM)

The Newmont share price is up 3.5% to $164.14. This has been driven by a decent rise in the gold price overnight after the US dollar softened. It isn’t just Newmont shares that are rising on Thursday. Most ASX gold stocks are rising today, which has led to the S&P/ASX All Ordinaries Gold index outperforming with a 1.3% gain at the time of writing.

Northern Star Resources Ltd (ASX: NST)

The Northern Star share price is up over 2% to $22.60. This morning, this gold miner released a production update and announced an on-market share buyback. Northern Star revealed that preliminary gold sales for the March quarter totalled 381,000 ounces. It also advised that it is not currently experiencing any supply issues with diesel fuel. However, it concedes that this remains a focus for the business and a key risk for the broader mining industry in Australia. With respect to the share buyback, the company plans to buy back up to $500 million of its shares as part of a proactive capital management strategy. Northern Star’s managing director, Stuart Tonkin, said: “Today’s announcement reflects our confidence in the strength of our business, the structural uplift in cash generation expected from the commissioning of the KCGM Mill Expansion and the compelling value we see in our share price.”

Qantas Airways Ltd (ASX: QAN)

The Qantas Airways share price is up over 1% to $8.76. This appears to have been driven by optimism that the war in the Middle East could soon come to an end and oil prices could be heading lower. Fuel costs are a major expense for Qantas, so higher oil prices can impact profitability.

The post Why Greatland Resources, Newmont, Northern Star, and Qantas shares are rising today appeared first on The Motley Fool Australia.

More reading

• Up 33% in 2 weeks, Northern Star share price surging again today on $500 million news
• Northern Star Resources posts Q3 gold sales, on track for FY26
• Should you buy the dip on gold shares? Expert
• 5 things to watch on the ASX 200 on Thursday
• Here are the top 10 ASX 200 shares 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 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.

St Barbara Ltd (ASX: SBM) shares are slipping on Thursday despite the company announcing a major milestone for its next phase of growth.

In midday trade, the shares are down 0.46% to 65.2 cents.

The decline comes even though the update materially improves the company’s funding position and clears the way for its next major development phase.

After the stock’s strong recovery in recent months, it appears some investors may be using the news as an opportunity to lock in gains.

Here’s what the market is weighing up.

Simberi deal completion clears the way for construction

According to the release, St Barbara has completed the strategic investment by Lingbao Gold Group and received $389 million in cash proceeds.

This includes the previously agreed $370 million plus a $19 million adjustment linked to working capital and cash holdings.

At the same time, both parties approved the final investment decision to begin construction of the New Simberi Gold Project. The total construction cost is estimated at US$333 million.

St Barbara said its share of the remaining development funding is fully covered, with only 50% of remaining costs to be funded from this point following the ownership reset.

Site works are expected to begin immediately.

The company also expects to recognise an unaudited gain on sale of about $500 million in its FY26 results. Management said there should be no tax leakage from the Lingbao transaction.

Management says execution risk has now eased

Managing Director and CEO Andrew Strelein said the transaction completion and final investment decision mark a major turning point in the company’s outlook.

He said:

Today’s completion of the Lingbao transaction and approval of the FID represents a major milestone for St Barbara.

Strelein added that the deal leaves the company fully funded for development and said the FID reduces execution risk as Simberi moves into its next production phase.

The expanded operation is expected to increase ore treatment capacity to 10Mtpa from 3.5Mtpa and lift annual gold production to more than 200,000 ounces.

St Barbara also said the updated mine plan points to an expected all-in sustaining cost of between US$1,100 and US$1,400 per ounce.

Ore reserves alone are expected to support a mine life of at least 13 years.

Foolish Takeaway

With the funding now locked in and development approved, the next phase for investors is all about execution.

The key question is whether management can keep the Simberi build on schedule and within the US$333 million budget while progressing toward the targeted annual production.

If management delivers on that pathway, today’s share price weakness could prove to be a buying opportunity.

The post This beaten-down ASX gold stock just cleared a major hurdle. So why are investors selling? appeared first on The Motley Fool Australia.

More reading

• Guess which newly minted ASX 300 gold stock is lifting off today on $500 million news
• Up 148% in a year, ASX All Ords gold stock sinking today amid $370 million news

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) fell 7.8% in March, with two of the big three ASX 200 mining shares outperforming that loss and one falling harder.

All three of the Aussie miners lost ground in the month just past. That came despite a 6% increase in the iron ore price, with the industrial metal ending the month at US$106 per tonne. Copper prices went the other way, however, falling 8% to end March trading for US$12,225 per tonne, according to data from Bloomberg.

Investors will also have been eyeing the impacts from the Iran war. Atop guaranteed higher upcoming fuel costs for the ASX 200 mining shares, they could also potentially be facing diesel supply shortages, which could impact their operations in the months ahead.

Now, as we’ll look at below, the three Aussie miners all traded ex-dividend over the month. We’ll need to take those passive income payments into account as they’ll mitigate the share price declines.

So, how did the ASX 200 mining shares stack up?

I’m glad you asked!

How did the big three ASX 200 mining shares perform in March?

On 27 February, Rio Tinto Ltd (ASX: RIO) shares closed at $167.33. When the closing bell sounded on 31 March, shares were swapping hands for $161.43 apiece. This saw the Rio Tinto share price down 3.5% over the month.

Rio Tinto traded ex-dividend on 5 March. The miner will pay the (rounded) $3.60 a share fully-franked dividend on 16 April. If we add that back into the March closing price, then investors holding Rio Tinto shares over the month will have only lost 1.4%.

Turning to Fortescue Ltd (ASX: FMG), the miner closed out February trading for $21.14 a share and ended March trading for $20.31. This saw the Fortescue share price down 3.9% over the month just past.

Fortescue traded ex-dividend on 2 March. The ASX 200 mining share paid out its fully-franked 62 cents a share dividend on 30 March. Adding that back into the March closing price, and investors holding the stock over the month will have lost a lesser 1.0%.

Trailing the pack in March, we have Australia’s biggest mining stock, BHP Group Ltd (ASX: BHP).

BHP shares ended February trading for $58.41 and closed out March trading for $50.39 each. This put the ASX 200 mining share down 13.7%.

BHP traded ex-dividend on 5 March. BHP paid its (rounded) $1.04 a share fully-franked dividend on 26 March. But even after we add that back in, investors holding BHP shares over March will have lost 12.0%.

In March, investors also learned that Brandon Craig will take the reins as BHP’s new CEO on 1 July.

The post Buying ASX 200 mining shares? Here’s how Rio Tinto, Fortescue and BHP stacked up in March appeared first on The Motley Fool Australia.

More reading

• Why sitting out this ASX share market chaos could cost you big
• Why now could be the perfect time to buy ASX dividend stocks
• $7,500 invested in Rio Tinto shares 10 days ago is now worth…
• 3 reasons why the Rio Tinto share price could be a buy
• How are these 5 ASX share giants really tracking in 2026?

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

S&P/ASX 200 Health Care Index (ASX: XHJ) shares have tumbled 27% over six months as the sector faces multiple challenges.

Blackwattle Large Cap Quality Fund portfolio managers Joe Koh and Elan Miller cite unfavourable currency changes, tariffs, and higher labour and cost pressures for Australian healthcare companies.

These challenges, in part, have led to 8 of the 10 largest healthcare shares on the market trading at or close to multi-year lows.

This week on The Bull, analysts reveal buy ratings on three ASX 200 healthcare shares, and why they see value in them today.

Pro Medicus Ltd (ASX: PME)

The Pro Medicus share price is $124.94, up 0.8% on Thursday.

This ASX 200 healthcare share has dropped 60% over six months, and hit a two-year low of $107.75 in late February.

Blake Halligan from Catapult Wealth has a buy recommendation on Pro Medicus shares.

Halligan explains:

With an underlying earnings before interest and tax margin at 73 per cent and cash of $222 million, PME remains financially robust.

Growing US market share supports a positive long term growth outlook, making PME an attractive portfolio addition.

Telix Pharmaceuticals Ltd (ASX: TLX)

The Telix Pharmaceuticals share price is $13.29, up 0.7% today.

This ASX 200 healthcare share has fallen by 14% over six months and by 48% over the past year.

The stock hit a two-year low of $8.26 in February.

Mark Gardner from MPC Markets says Telix Pharmaceuticals shares are a buy, commenting:

The company recently re-submitted its drug application to the US Food and Drug Administration (FDA) for Pixclara, an imaging agent for a particularly aggressive form of brain cancer.

The FDA has given it priority status, and Telix has gone through a formal meeting to address every question raised in its previous application. In our view, a re-submission isn’t a setback, but the last step before approval.

We believe the market isn’t pricing in the benefits of a potentially successful FDA outcome.

Ramsay Health Care Ltd (ASX: RHC)

The Ramsay Health Care share price is $39.47, up 1.1% today.

This ASX 200 healthcare share has bucked the trend, rising 25% over six months.

The stock hit an 18-month high of $44.73 in early March.

Remo Greco from Sanlam Private Wealth gives Ramsay Health Care shares a buy rating.

Greco said:

The private hospital operator posted a better than expected first half year result for fiscal year 2026.

RHC is spinning off its European business, which we believe paints a brighter outlook.

The fully franked interim dividend of 42.5 cents was up 6.3 per cent and potentially points to a stronger final dividend for the full year. 

The post 3 ASX 200 healthcare shares to buy amid sector rout appeared first on The Motley Fool Australia.

More reading

• 3 reasons to buy Ramsay Health Care shares today
• 3 reasons to buy this red-hot ASX healthcare stock today
• The best time to buy shares? It might be right now
• 2 ASX stocks that could help turn $10,000 into $1 million
• Why Arafura Rare Earths, Eagers Automotive, Life360, and Pro Medicus shares are racing higher 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 positions in and has recommended Telix Pharmaceuticals. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Pro Medicus. The Motley Fool Australia has recommended Pro Medicus and Telix Pharmaceuticals. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Uncertainty has a way of shifting investor priorities.

When markets become volatile and the outlook is less clear, many investors start looking for businesses that can deliver more consistent earnings. These are often referred to as defensive shares, and they tend to hold up better when conditions are challenging.

The key is finding companies with resilient demand, strong market positions, and reliable cash flow.

Here are three ASX defensive shares that could be worth considering.

APA Group (ASX: APA)

The first ASX share that could be a defensive option is APA Group.

APA operates energy infrastructure assets, including gas pipelines and storage facilities, which are critical to Australia’s energy network. These assets are not easily replaced and are essential for transporting energy across the country.

What makes APA particularly defensive is its revenue model. Much of its income is derived from long-term contracts, which provides a high level of visibility over future cash flow.

In uncertain markets, that kind of predictability can be valuable. It allows the company to generate steady earnings and support its dividend payments, even when broader economic conditions are uneven.

Wesfarmers Ltd (ASX: WES)

Another ASX share that could be a defensive pick is Wesfarmers.

Wesfarmers owns a portfolio of well-known retail businesses, including Bunnings, Kmart, and Officeworks. These brands have strong positions in their respective markets and benefit from consistent customer demand.

Bunnings, in particular, is a standout. Its focus on home improvement and trade customers provides a relatively stable earnings base, supported by both DIY activity and ongoing housing-related demand.

Wesfarmers also has a strong balance sheet and a track record of disciplined capital allocation. This gives it flexibility to invest, manage costs, and return capital to shareholders over time.

Woolworths Group Ltd (ASX: WOW)

A third ASX share that could be a defensive option is Woolworths.

As Australia’s largest supermarket operator, Woolworths benefits from the non-discretionary nature of grocery spending. Regardless of economic conditions, consumers still need to buy food and everyday essentials.

Another positive is that after a tough period, recent results have shown that the company is making progress on its strategy, with improving customer metrics and stabilising market share. This suggests it is strengthening its position in a highly competitive environment.

With its scale, strong cash flow, and focus on value for customers, Woolworths remains well placed to deliver relatively stable earnings even when markets are uncertain.

The post 3 ASX defensive shares to buy in uncertain markets appeared first on The Motley Fool Australia.

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• 3 must-own ASX dividend shares which belong in every portfolio
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• Is it too late to start investing in ASX shares in your 40s?

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