Every so often, long-term investors are presented with an opportunity that does not come from hype or speculation, but from time and patience. An opportunity is created when a major region of the world delivers very little for years, only to begin moving again, just as many investors have lost interest.

I think that is exactly what is happening right now with the Vanguard FTSE Asia Ex-Japan Shares Index ETF (ASX: VAE).

A strong year that hides lost years

At first glance, the VAE ETF does not look like a contrarian idea. The fund has performed strongly over the past 12 months, reflecting a recovery across parts of Asia.

But zoom out, and the picture changes dramatically.

Remarkably, all of the Vanguard FTSE Asia Ex-Japan Shares Index ETF’s gains in 2025 account for almost its entire return over the last five years. In other words, Asian equities have spent most of the past half-decade going sideways while US and Australian markets surged ahead.

That kind of long-term underperformance often sets the stage for the next cycle. It suggests there may still be a lot of lost ground to make up over the coming decade, especially if growth, innovation, and demographics begin to reassert themselves.

Exposure to the engines of Asian growth

This Vanguard index fund offers broad exposure to Asia, excluding Japan, Australia, and New Zealand, covering approximately 1,400 stocks across 12 markets.

Its largest country exposures are China, Taiwan, India, and South Korea, together accounting for around 80% of the portfolio. These are not fringe markets. They are central players in global manufacturing, technology, finance, and consumption.

The ETF’s top holdings include some of the most important companies in the global economy, such as Taiwan Semiconductor Manufacturing, Tencent, AIA Group, China Construction Bank, Alibaba, Samsung Electronics, and SK Hynix. These businesses sit at the heart of long-term themes like semiconductors, cloud computing, artificial intelligence, and digital payments.

Importantly, this exposure is diversified across sectors, company sizes, and countries. That diversification matters in a region that can be volatile in the short term but powerful over longer time horizons.

A demographic and economic tailwind

Asia is home to more than half of the world’s population and many of its fastest-growing middle classes. Over time, rising incomes, urbanisation, and consumption tend to translate into higher corporate earnings and expanding capital markets.

India’s growing financial sector, Taiwan and Korea’s dominance in advanced manufacturing, and China’s vast domestic economy all contribute to the long-term investment case. This Vanguard index fund allows investors to access this growth without needing to pick individual winners.

A simple way to diversify an Australian portfolio

For Australian investors, the VAE ETF also plays a useful portfolio role.

Local portfolios are often heavily concentrated in banks, miners, and domestic equities. Adding Asian exposure can improve diversification and reduce reliance on a single economic cycle. Vanguard itself suggests this ETF can complement broader diversified funds, helping investors balance their exposure geographically.

It is worth noting that the Vanguard FTSE Asia Ex-Japan Shares Index ETF is unhedged, meaning returns will be influenced by currency movements. That adds volatility, but for long-term investors, it also adds diversification benefits.

Foolish Takeaway

The Vanguard FTSE Asia Ex-Japan Shares Index ETF is not a short-term trade. It is a buy-and-hold investment for those willing to think in decades, not quarters.

After years of underperformance followed by a strong but still early recovery, Asian equities may be entering a new phase. If that happens, the VAE ETF offers a low-cost, diversified way to participate.

For investors looking ahead to 2026 and beyond, this could be one of those rare moments where patience today is handsomely rewarded over the next decade.

The post A once-in-a-decade investment opportunity: 1 brilliant Vanguard index fund to buy in 2026 appeared first on The Motley Fool Australia.

More reading

• The best performing Vanguard ASX ETFs of 2025

Motley Fool contributor Grace Alvino 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 Taiwan Semiconductor Manufacturing and Tencent. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Alibaba 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 share price of ASX insurance stocks QBE Insurance Group Ltd (ASX: QBE) and Suncorp Group Ltd (ASX: SUN) haven’t moved much during Wednesday’s trading.

QBE is the largest ASX insurance stock and has seen its share price drop slightly by 0.25% to $19.83. Its $19 billion rival Suncorp has gained 0.2% in value at $17.34.

Both insurance companies have had a past 6 months to forget, with QBE tumbling almost 14%, and Suncorp 16%.

Let’s have a closer look at what 2026 might bring for the two heavyweight insurance stocks.

QBE

ASX insurance stock QBE is a large, globally diversified insurer. The company spreads catastrophe and economic risk across many markets.

The weakness of the past 6 months followed a strong start to 2025. Investor confidence was shaken when QBE announced that premium-rate increases had slowed significantly across several business lines, particularly in commercial property insurance.

That said, the underlying business remains sound. QBE delivered solid half-year results, supported by improved underwriting margins, stronger investment income, and a more disciplined portfolio.

The company also launched a sizeable on-market share buyback, signalling confidence in its balance sheet and capital position. However, a softer third-quarter update for FY2025 overshadowed these positives, shifting market focus toward slowing growth.

Despite these headwinds, broker sentiment remains supportive. Most analysts rate QBE as a buy or strong buy, with an average 12-month price target of $22.30, implying upside of around 13% from current levels.

The maximum price target is set at $25.42, a potential gain of 28%.

However, Bell Potter has put the ASX insurance stock on the sell list. It is feeling cautious about the company’s outlook, given how premium growth is moderating and claim costs are rising.

The broker estimates that QBE’s shares will provide investors in FY 2026 with dividend yields of 4.7%.

Suncorp

Suncorp is more Australia-focused than QBE. It relies heavily on domestic personal and small commercial insurance brands. The heavier domestic exposure makes the ASX insurance stock more sensitive to Australian natural disaster losses and regulatory and premium pressures than QBE.

The insurer experienced five difficult months to November 2025, marked by elevated natural hazard losses. December, on the other hand, proved to be a comparatively quieter month for weather-related events.

Even so, total costs still exceeded Suncorp’s $885 million first-half allowance. Broker UBS estimates a catastrophe budget overrun of $420 million, reduced from its earlier estimate of $580 million.

UBS has assigned a buy rating to Suncorp shares, with a price target of $20.85 on the ASX-listed insurance stock. This points to a 20% upside over the next 12 months.

In terms of the dividend, the projection on CMC Markets suggests the business could deliver an annual dividend per share of 78.5 cents. At the current Suncorp share price, it could pay a grossed-up dividend yield of 6.3%, including franking credits.

The post Which ASX insurance stock to buy in 2026: QBE or Suncorp? appeared first on The Motley Fool Australia.

More reading

• Why these brokers are bullish on the Suncorp share price
• Which ASX insurance stocks performed best this year?
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• Suncorp shares tread water as investors digest 2026 dividend timeline

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.

Lynas Rare Earths Ltd (ASX: LYC) is catching traders’ attention today, with its share price up 10.19% to $14.49.

The move follows a sharp rebound after the rare earths producer hit a four-month low of $12.15 on 2 January 2026.

Since then, Lynas shares have climbed steadily as sentiment towards the rare earths sector improves.

Several factors now appear to be lifting both Lynas and the broader rare earths market.

So, what is driving today’s performance, and does this rally have more to run?

A sharp technical rebound lifts sentiment

Lynas shares were under pressure late last year as investors sold down commodity and growth-exposed stocks.

Concerns about slowing electric vehicle demand and weaker rare earths prices weighed heavily on the sector.

That selling pushed Lynas shares into oversold territory from a technical perspective.

The January lows now appear to have attracted buyers looking for value. Today’s rally suggests confidence is returning after the recent pullback.

Rare earths prices are showing signs of stabilising

A key driver behind Lynas’ rebound is improving sentiment around rare earths prices. Neodymium and praseodymium (NdPr) are the company’s most important products and the main contributors to its revenue.

These materials are essential for permanent magnets used in electric vehicles, wind turbines, robotics, and defence technology. Industry data suggest that demand for NdPr magnets could grow at 8% to 10% per year through the late 2020s, underpinned by trends in electrification and clean energy.

After a tough 2024 and 2025, several brokers have noted that rare earths prices may now be bottoming. NdPr oxide prices fell more than 40% from their 2022 highs, which weighed heavily on earnings across the sector.

Looking ahead, longer-term forecasts indicate rising demand and limited new supply outside of China. Some analysts expect NdPr prices to recover gradually from 2026 as supply conditions tighten.

That outlook remains supportive for Lynas, which already has processing capacity and scale in place.

A strategically important producer outside China

Lynas is the largest producer of rare earths outside China, giving it significant geopolitical importance.

Western governments continue to prioritise supply chain diversification for critical minerals. That trend supports long-term demand for Lynas’ production across electric vehicles, renewables, and defence industries.

The company also continues progressing expansion plans to lift processing capacity in coming years. Those projects could materially increase earnings if pricing conditions improve.

What to watch next

Today’s rally reflects a mix of technical factors, improving sentiment, and stabilising rare earths prices. However, Lynas shares remain volatile and closely tied to commodity price movements.

Investors will be closely watching the trends in rare earths prices and the company’s next quarterly update. Any improvement in pricing or production guidance could provide further upside momentum.

For now, Lynas is firmly back on investors’ radars after a strong January rebound.

The post Why Lynas shares are soaring 10% today after a sharp rebound from January lows appeared first on The Motley Fool Australia.

More reading

• Here are the top 10 ASX 200 shares today
• Here are my top 3 ASX shares to buy in January
• Why 4Medical, Guzman Y Gomez, Lynas, and Predictive Discovery shares are falling today
• 5 magnificent ASX stocks that can make you richer in 2026
• Lynas shares: After a year of outperformance, is it still a buy?

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 recommended Lynas Rare Earths Ltd. 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.

Newmont Corp (ASX: NEM) shares are higher on Wednesday following a fresh update from the company.

At the time of writing, the gold miner’s shares are up around 4.55% to $161.28, outperforming the broader ASX.

The move comes after Newmont released an operational update relating to recent bushfires near its Boddington mine in Western Australia.

Here’s what the company said.

Bushfire update

According to the release, Newmont provided an update on bushfires that began in mid-December and affected the area surrounding its Boddington operations.

The company confirmed the fire has now been contained, with no serious injuries reported among employees or contractors. Importantly, site inspections confirmed that critical infrastructure, including the pit, processing plant, and tailings facilities, remained secure and undamaged.

Operations at Boddington were temporarily suspended on 24 December as a precaution. Mining and processing have since resumed, although processing rates are currently reduced while repairs to a portion of the site’s water supply infrastructure are completed.

Newmont expects full restoration of the water supply by February, with a forecast production impact of around 60,000 ounces of gold in 2026.

Why the market is reacting positively

While bushfire disruptions can create uncertainty, investors appear reassured by the limited operational impact outlined in the update.

The company confirmed that production for 2025 was not materially affected and that the interruption relates to a defined, short-term issue rather than widespread damage across the operation.

Newmont also highlighted its support for local emergency services and the Boddington community, noting that it provided equipment, resources, and personnel during the response effort.

Overall, the update reduced the risk of a more significant production hit, which likely helped drive today’s share price rebound.

Strong momentum behind the stock

Today’s move adds to what has already been a strong period for Newmont shares, following significant gains over the past year. That performance reflects higher gold prices and improving sentiment towards large, established producers.

Gold prices have climbed to record levels as investors seek safe-haven assets amid geopolitical uncertainty and expectations of lower interest rates. This backdrop has been supportive for miners with long mine lives and diversified asset bases.

Operationally, the company has continued to deliver solid results, maintaining production and cost targets across its global portfolio. Recent financial updates also point to growing free cash flow and balance sheet discipline, which have further supported investor confidence.

What investors will watch next

Looking ahead, investor focus will likely remain on the company’s operational execution and commodity prices.

Progress on restoring water infrastructure at Boddington will be a key focus, alongside production and cost guidance in the upcoming updates.

For now, today’s announcement helps explain why Newmont shares are higher. The market appears reassured that recent bushfires have not derailed the near-term outlook.

The post This ASX gold giant jumped almost 5% on Wednesday. Here’s why 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.

Shares in junior oil and gas explorer 3D Energi Ltd (ASX: TDO) were trading higher on Wednesday after the company reported more positive drilling results from its campaign off the coast of Victoria.

The company said in a statement to the ASX on Wednesday morning that its Charlemont-1 well had found “probable gas presence” across three zones – Waarre A, B, and C.

Drilling of Charlemont-1 started on December 10 and had to be temporarily halted at one stage due to “higher than expected formation pressures with significant gas shows”.

The company said further:

Drilling into the Waarre C reservoir re-commenced on the evening of 2 January 2026. Elevated gas readings were recorded across the Waarre C sandstones and coincide with elevated resistivity readings on wireline, consistent with probable hydrocarbon presence in the Waarre C sandstones. Further wireline logging is required to fully evaluate the nature and extent of the hydrocarbons.  

Positive results to date for ASX energy stock

Executive Chair Noel Newell said the results were very encouraging.

We are incredibly excited by early indications consistent with gas presence in multiple Waarre reservoirs. Wireline logging will be critical in assessing the quality and extent of these indications, and the Company remains optimistic as it continues to plan to progress to the evaluation phase. The identification of probable hydrocarbons in the Waarre C is significant, as hydrocarbons were not anticipated in this zone prior to drilling. This outcome may have further positive implications for up-dip prospects along the Charlemont Trend, particularly those not currently supported by existing Direct Hydrocarbon Indicators on seismic. We will be evaluating this closely at the conclusion of the drilling program.  

Mr Newell said there were further prospects which could be tested in the region, and “if successfully appraised, this cluster could be among the largest gas pools in the Otway Basin”.

3D Energi holds a 20% stake in the exploration program, while ConocoPhillips serves as the operator with a 51% stake, and Korea National Oil Company owns the remaining 29%.

3D Energi was valued at $81.2 million at the close of trade on Tuesday.

Strong run of results for ASX energy stock

The company has almost doubled in value since its first announcement in November that the Essington-1 well had intersected two gas bearing reservoirs, with one having 58.5 metres of net gas pay while the second had 31.5 metres.

With gas supplies on Australia’s east coast tight, any new discoveries in the region will be welcomed by industry and government.

The Australian Energy Market Operator, in its 2025 Gas Statement of Opportunities, forecasted earlier this year that there would be a risk of gas shortfalls in the coming years, despite declining gas use.

3G Energi shares were 3.2% higher on Wednesday at 16 cents.

The post Junior ASX energy company ‘incredibly excited’ by new gas find appeared first on The Motley Fool Australia.

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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.

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a decent gain. At the time of writing, the benchmark index is up 0.3% to 8,709.9 points.

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

4DMedical Ltd (ASX: 4DX)

The 4DMedical share price is up 13% to $4.75. This morning, this respiratory imaging technology provider announced that UC San Diego Health has entered into a commercial arrangement for the clinical use of CT:VQ. It notes that UC San Diego Health is one of the United States’ leading academic health systems and has consistently ranked in the top 10 for Pulmonology & Lung Surgery. It has commenced clinical use of CT:VQ under a structured launch framework, whereby introductory pricing will apply through March 31. 4DMedical’s CEO and founder, Andreas Fouras, said: “UCSD is consistently ranked in the top 10 for pulmonology & lung surgery and is home to a world-class cardiothoracic imaging program. Their adoption of CT:VQ represents another powerful validation of our technology and our strategic approach to commercialisation.”

Regis Resources Ltd (ASX: RRL)

The Regis Resources share price is up 1.5% to $7.61. Investors have been buying this gold miner’s shares following the release of a production update. Regis Resources reported total group gold production of 96,600 ounces. This brought its total group gold production for the first half to 186,900 ounces. And thanks to the sky-high gold price, Regis Resources achieved a record cash and bullion build of $255 million. This resulted in a record cash and bullion balance of $930 million.

Unico Silver Ltd (ASX: USL)

The Unico Silver share price is up 4% to 94 cents. This has been driven by the release of drilling results from the silver miner’s 100%-owned Joaquin Project this morning. The company revealed that infill and extensional drilling at La Negra SE confirms that there is a broad, shallow zone of oxide silver-gold mineralisation over 850 metres strike and 175 metres vertical extent. It remains open to the south-east and at depth. The company’s managing director, Todd Williams, said: “These results confirm the scale and geometry required for conventional open-pit development and support our decision to move directly to a Pre-Feasibility Study Mineral Resource Estimate.”

WiseTech Global Ltd (ASX: WTC)

The WiseTech Global share price is up almost 3% to $67.34. This may have been caused by a broker note out of Jefferies. The broker is feeling positive about the logistics solutions technology company’s outlook due to its belief that it won’t be disrupted by AI competition. This is due to the complexity of the logistics industry.

The post Why 4DMedical, Regis Resources, Unico Silver, and WiseTech Global shares are pushing higher appeared first on The Motley Fool Australia.

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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) is back on form and pushing higher. At the time of writing, the benchmark index is up 0.2% to 8,697.8 points.

Four ASX shares that have failed to follow the market higher today are listed below. Here’s why they are falling:

Bellevue Gold Ltd (ASX: BGL)

The Bellevue Gold share price is down 7% to $1.67. This follows the release of a production update from the gold miner this morning. Bellevue Gold revealed that underground development was suspended in the last week of December due to a safety incident involving the management of misfires in an active development face. It advised that the development activity did not resume until a detailed assessment was completed, delaying access to high-grade headings which were in production in the Deacon and Viago mine areas. The good news is that underground development resumed on 4 January, at which time access to the high-grade headings was regained.

Harvey Norman Holdings Ltd (ASX: HVN)

The Harvey Norman share price is down 4.5% to $6.59. This has been driven by a broker note out of Jefferies. According to the note, the broker has downgraded the retail giant’s shares to a hold rating with a reduced price target of $7.60. This still implies potential upside of 15% for investors over the next 12 months.

Karoon Energy Ltd (ASX: KAR)

The Karoon Energy share price is down 3.5% to $1.45. This may have been caused by a pullback in oil prices overnight. Traders were selling oil in response to lower demand forecasts and Venezuelan output uncertainty. It isn’t just Karoon Energy that is falling today. The S&P/ASX 200 Energy index is down 2.1% at the time of writing.

Westpac Banking Corp (ASX: WBC)

The Westpac share price is down 1% to $37.77. Investors have been selling the banks this week, possibly on valuation concerns. Morgan Stanley has warned that the big four banks could derate over 2026 against a backdrop of persistent inflation and potential interest rate hikes. The broker highlights that bank shares are trading on elevated price to earnings multiples. It points out that Commonwealth Bank of Australia (ASX: CBA) shares trade at 25x earnings at present. However, it thinks trading conditions in 2026 could see bank share premiums unwind.

The post Why Bellevue Gold, Harvey Norman, Karoon Energy, and Westpac shares are falling today appeared first on The Motley Fool Australia.

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• This gold stock just hit a fresh high, but at least one broker thinks it can go higher
• 2 quality ASX 200 shares to buy now amid a rising Aussie dollar
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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 positions in and has recommended Harvey Norman. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

ASX investors who are looking to add shares to a retirement portfolio probably have some very specific criteria to fulfil. Retirement shares need to pay out an income stream, for one. But that income stream also needs to be dependable and reliable, and preferably include full franking credits.

Ideally, a retirement will last two to three decades, or perhaps even longer if one is lucky. As such, retirement shares also need to offer longevity, with a business model that has proven to be able to stand the test of time. As well as other, shorter-term maladies such as inflation and economic recessions.

With all of that in mind, here are two ASX stocks that I think fulfil all of these criteria and would make for top retirement shares.

Two top ASX retirement shares to buy in 2026

Coles Group Ltd (ASX: COL)

Coles is an ASX stock we’d all be reasonably familiar with. This company runs the second-largest supermarket network in the country, as well as the Liquorland bottle chop chains. When considering the criteria we discussed above, Coles ticks all of the boxes.

Its consumer staples business model is mature and established, even growing market share at the expense of its arch-rival Woolworths Group Ltd (ASX: WOW) in recent years. Customers need to buy food and household essentials, regardless of the economic weather. This means that Coles has a highly defensive earnings base from which to pay its fully franked dividends. Speaking of dividends, Coles has managed to deliver an annual dividend hike every year since its 2018 ASX listing.

I see no reason why this company won’t be a reliable dividend payer in 10, 20 or even 30 years’ time. As such, I would happily buy it as a top retirement share today.

Telstra Group Ltd (ASX: TLS)

Our next retirement share is the ASX 200 telco Telstra. I think Telstra’s appeal as a retirement share is similar to that of Coles, despite the two companies selling starkly different products.

As the largest and most dominant provider of telecommunication services in Australia, Telstra possesses a wide economic moat. Its mobile network is universally acknowledged as the best in the country, with many Australians in rural and regional areas having no alternative to Telstra. This has allowed the telco to remain the preferred choice for both mobile and fixed-line services for decades.

Given the importance of connectivity to our economy is only growing, Telstra should remain in a position to be able to translate its defensive, inelastic cash flows to strong and stable dividends (which always come fully franked) for years to come.

The post Top retirement shares for Australian investors to buy now appeared first on The Motley Fool Australia.

More reading

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• Forecast: Here’s what $10,000 invested in Telstra shares could be worth next year

Motley Fool contributor Sebastian Bowen 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 positions in and has recommended Telstra Group and Woolworths Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Shares in Bellevue Gold Ltd (ASX: BGL) briefly hit a 12-month high in early trade on Wednesday after the company released a quarterly production report indicating it was on track to meet its full-year guidance.

Shares in the gold miner traded as high as $1.82 in early trade before settling back to be 1.5% lower at $1.76 by mid-morning.

The value of the company has more than doubled over the past year, with the shares up from lows of 77.5 cents as recently as August.

Production steady despite disruptions

Bellevue stated in its update on Wednesday that it produced 32,000 ounces of gold, achieving gold recoveries of 96.1%, which outperformed the estimates used in setting its FY26 guidance.

The company said production was restricted at the end of the quarter by one-off factors, including the suspension of underground development in the last week of December due to a safety incident.

Underground development resumed on January 4, the company said.

The company said despite the delays, “the advance rate for the quarter was still above the 270m per jumbo per month rate used in the mine plan”.

A jumbo is a machine used in underground mine development

Bellevue said it remained on track to meet FY26 production guidance of 130,000 to 150,000 ounces of gold.

Hedging being unwound

The company said it was also continuing to work through its hedge book, which would give it increasing exposure to the spot gold price.

As the company said:

Bellevue continued pre-delivering gold and reducing near term hedge book commitments, which will increase future spot gold price exposure. Forward gold sales commitments have been reduced in total by a further 18,345 ounces, through a combination of 4,725 ounces of contractual December 2025 hedge deliveries and 13,620 ounces of additional voluntary pre-delivery against hedge commitments in the March 2026 and June 2026 quarters.

Analysts at RBC Capital Markets said the quarterly production results were broadly in line with their estimates, albeit “a slight miss to consensus”, and positioned the company well to meet its full-year guidance.

They went on to say:

Underlying free cash flow beat consensus and slightly missed us; however, hedge book pre-deliveries limited cash generation. However, we think this is a positive as it allows Bellevue more spot sales in a rising gold price environment. Overall, a neutral update given the small production miss.

RBC has a price target of $2 on Bellevue shares. Bellevue Gold was valued at $2.65 billion at the close of trade on Tuesday.

The post This gold stock just hit a fresh high, but at least one broker thinks it can go higher appeared first on The Motley Fool Australia.

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• Can surging ASX 200 gold shares like Evolution Mining keeping smashing the benchmark in 2026?
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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.

BlueScope Steel Ltd (ASX: BSL) shares are trading in the red on Wednesday morning. At the time of writing the shares are 0.14% lower at $29.50 a piece.

But today’s slight dip has barely dented the huge gains the Australian-based steel manufacturer has made for the week so far. Over the past five days, BlueScope’s share price has jumped 22.87% and it is now trading 54.21% higher than this time last year.

What pushed BlueScope Steel’s shares higher this week?

On Monday afternoon, after the ASX closed, the company posted an ASX announcement confirming takeover speculation in the media.

BlueScope said it has received an unsolicited, non-binding, and indicative proposal from an Australian and US consortium to acquire all BlueScope shares under a scheme of arrangement. The consortium comprises SGH Ltd (ASX: SGH) and US-based Steel Dynamics (NASDAQ: STLD).

According to the announcement, the consortium has offered $30.00 cash per BlueScope share. 

The deal is subject to exclusivity, due diligence and a material adverse change in BlueScope’s business. It is also subject to a unanimous recommendation from the BlueScope board, approval of BlueScope shareholders, no further share buy-backs, final approvals from SGH and Steel Dynamics’ boards, and necessary regulatory approvals. BlueScope has not yet decided if it will accept the proposal.

Investors were clearly impressed with the news which caused a flurry of buying activity yesterday morning.

Are the shares a buy, hold or sell for 2026?

BlueScope has previously rejected takeover offers of up to $29.00 per share saying that they undervalue the company’s future prospects. At $30.00 per share, I’m uncertain whether the consortium’s latest offer will be enough to get the latest deal over the line. 

BlueScope’s growth plan for 2026 includes focusing on its operation efficiency, advancing majority projects and plans to target $500 million in annual earnings growth by 2030.

To me, the company and its growth plans represent significant value.

What do analysts think of the stock?

TradingView data shows that analysts are mostly positive on the outlook for BlueScope Steel shares. Out of 9 analysts, 6 have a buy or strong buy rating. 

The maximum predicted target price is $37.00 per share. At the time of writing that implies the stock could jump another 25.47% over the next 12 months. 

While there is no crystal ball to tell exactly where the share price will be this time next year, it’s clear that some analysts think the stock has a lot more room to run, even after this week’s uptick.

The post BlueScope Steel shares soar 23%: Buy, hold or sell for 2026? appeared first on The Motley Fool Australia.

More reading

• Here are the top 10 ASX 200 shares today
• Why BlueScope, DroneShield, Monadelphous, and SGH shares are racing higher today
• BlueScope shares jump 20% on takeover news
• SGH confirms $13.2 billion acquisition offer for BlueScope Steel
• BlueScope fields $30-per-share takeover bid from SGH, Steel Dynamics

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 recommended Steel Dynamics. 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.