The Liontown Ltd (ASX: LTR) share price is in focus today after the company reported a maiden NPAT of $93 million and record revenue of $639 million for FY26, reflecting strong operational delivery as lithium prices rebounded in the second half.

What did Liontown report?

• Maiden net profit after tax (NPAT) of $93 million; underlying NPAT of $14 million
• Record revenue of $639 million, up from $298 million in FY25
• Underlying EBITDA of $147 million, up from $20 million last year
• Operating cash flow grew to $182 million
• Transitioned Kathleen Valley to 100% underground operation, with open pit mining concluding on schedule
• Produced 391,992 dmt and shipped 381,997 dmt of concentrate at a 5.1% Li₂O average grade

What else do investors need to know?

Liontown completed its transition to a fully underground operation at Kathleen Valley this year, with the ramp-up progressing as planned. The current run-rate target of 2.8 million tonnes per annum is on track to be achieved by the end of FY27.

The company also clarified the impact of market volatility, noting that it maintained strict cost control during weaker price cycles and is now reinvesting in expansion as conditions improve. Notably, Liontown reduced current borrowings by $312 million to just $53 million at 30 June 2026, mainly due to the conversion of convertible notes to equity.

On the sustainability front, the Kathleen Valley Hybrid Power Station continued to perform reliably, providing around 80% renewable energy to operations. Liontown strengthened partnerships with the Tjiwarl Traditional Owners, investing $24 million with Aboriginal businesses and supporting workforce development.

What did Liontown management say?

Managing Director and CEO Tony Ottaviano said:

In this financial year, Kathleen Valley produced its maiden profit and strong operating cash while still ramping up, helped in the second half by better prices. We generated $182 million in operating cash, with NPAT of $93 million and underlying NPAT of $14 million.

The market handed us two very different halves in the year. Prices were weak early, so we kept costs tight and preserved cash. When the market turned, we backed our own read of it and we are now reinvesting in Kathleen Valley with the same discipline.

We concluded open pit mining during the year. The underground ramp-up is going to plan and we are on track for 2.8Mtpa by the end of FY27.

As we enter FY27, our focus is safe, stable operations, delivering a business that is resilient through the cycle, and growing responsibly with FID on our Kathleen Valley expansion due next month.

What’s next for Liontown?

Looking ahead, Liontown will focus on safely scaling up the underground operations at Kathleen Valley, aiming to reach the targeted 2.8Mtpa run-rate by the end of FY27. The company is also preparing for a final investment decision on the next phase of its Kathleen Valley expansion, expected shortly.

With strong cash flow, a significant reduction in debt, and continued investment in sustainability and traditional owner partnerships, Liontown appears well placed to navigate lithium market cycles and pursue further growth opportunities.

Liontown share price snapshot

Over the past 12 months, Liontown shares have risen 31%, outpacing the S&P/ASX 200 Index (ASX: XJO), which has risen 2% over the same period.

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The post Liontown FY26 results: Maiden profit, record revenue as lithium prices rebound appeared first on The Motley Fool Australia.

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Motley Fool contributor Laura Stewart 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. This article was prepared with the assistance of Large Language Model (LLM) tools for the initial summary of the company announcement. Any content assisted by AI is subject to our robust human-in-the-loop quality control framework, involving thorough review, substantial editing, and fact-checking by our experienced writers and editors holding appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content published by The Motley Fool Australia.

If you are looking for a way to gain exposure to gold and copper and have a high tolerance for risk, then read on.

That’s because Bell Potter is tipping one up and coming ASX gold-copper stock to explode over the next 12 months.

Which ASX gold-copper stock?

The stock that has caught the eye of Bell Potter is Waratah Minerals Ltd (ASX: WTM).

It is a New South Wales based, gold-copper exploration and development company. 

Its flagship project is the 100%-owned Spur gold-copper project, which is an advanced stage, pre-resource exploration project in the Lachlan Fold Belt. This is located ~33km southwest of Orange and just ~5km from the Cadia gold-copper operation owned by Newmont Corporation (ASX: NEM). 

Bell Potter notes that more drilling results have been announced for the Spur Project, which have been positive. It said:

WTM has announced further results from the Consols Zone, part of the 80,000m growth and extensional drilling program at its 100%-owned Spur Project in NSW. Holes returned include SPD074, a major step-out hole which successfully intersected multiple mineralised zones, confirming a significant eastward and down-plunge extension of Consols. The hole also intersected a previously unrecognised shallow high-grade zone, opening up a new area of exploration potential. 

Drilling also progressed at the Spur Zone, extending mineralisation north along the Tywi Fault. Results included SPD081, which intersected Consols-style mineralisation at Spur, extending mineralisation 65m north, further building the case for continuity between the zones. It also intersected potassic alteration in another hint of the porphyry potential at depth, which has not yet been seriously tested. Multiple rigs remain active, indicating a steady news flow through the rest of CY26.

Should you invest?

According to the note, Bell Potter has retained its speculative buy on the ASX gold-copper stock with an improved price target of $1.15.

Based on its current share price of 60.5 cents, this implies potential upside of 90% for investors over the next 12 months.

Commenting on its buy recommendation, the broker said:

The Spur Project is showing strong indications of delivering a gold-copper deposit of substantial scale and grade in a strategic setting. We see potential for the delineation of a regionally significant gold Resource of +3.0Moz at competitive gold grades between 0.8-1.0g/t Au. This informs our valuation, which is based on a 50:50 blended EV/Resource ounce multiple and risk-adjusted notional mining scenario. We lift our Valuation to $1.15/sh and retain our Speculative Buy recommendation.

The post Why this ASX gold-copper stock could rocket 90% appeared first on The Motley Fool Australia.

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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 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.

Once a week, I like to look at ASIC’s short position report to find out which ASX shares are being targeted by short sellers.

That’s because I believe it is worth keeping a close eye on short interest levels as high levels can sometimes be a sign that something isn’t quite right with a company.

With that in mind, listed below are the 10 most shorted shares on the ASX this week according to ASIC.

The top 10 most shorted ASX shares

• DroneShield Ltd (ASX: DRO) has returned to the top of the table with short interest of 14.9%, which is down slightly week on week. The counter-drone technology company remains a popular target for short sellers. This could be partly due to the ongoing uncertainty created by ASIC’s investigation.
• Lotus Resources Ltd (ASX: LOT) has seen its short interest fall sharply to 13.6%, but it remains the second most shorted ASX share. The uranium developer’s recent capital raising may have eased some pressure, though short sellers still appear to be questioning development timelines and uranium demand.
• 4DMedical Ltd (ASX: 4DX) has short interest of 12.4%, which is broadly unchanged since last week. The medical imaging technology company continues to divide the market. While some investors see a large commercial opportunity, short sellers may be focusing on the gap between its market valuation and its current revenue base.
• Domino’s Pizza Enterprises Ltd (ASX: DMP) has seen its short interest ease to 12.3%. The pizza chain operator is trying to reset the business after a difficult period of store closures, impairments, and weaker trading. Short sellers may be waiting for clearer evidence that the turnaround will succeed.
• CAR Group Limited (ASX: CAR) has short interest of 12.1%, which is flat since last week. This may reflect concerns over the auto listings company’s outlook in a difficult operating environment.
• Treasury Wine Estates Ltd (ASX: TWE) has seen its short interest rise to 12%. Short sellers may have concerns over weak wine demand and the pace of the Penfolds owner’s recovery.
• Paladin Energy Ltd (ASX: PDN) has 11.2% of its shares held short, which is down slightly week on week. Short sellers appear to believe the market is too optimistic on production, costs, and uranium prices.
• PLS Group Ltd (ASX: PLS) has seen its short interest rise to 11.1%. Short sellers may be betting that prices for the battery-making ingredient remain under pressure, which would be bad news for margins.
• Zip Co Ltd (ASX: ZIP) has entered the top ten with short interest of 10.9%. Its strong share price recovery may have led some short sellers to question whether expectations have run too far, especially given weak consumer spending.
• Flight Centre Travel Group Ltd (ASX: FLT) has seen its short interest ease to 10.8%. Short sellers may still have concerns over Middle East disruption, margins, and travel demand.

The post These are the 10 most shorted ASX shares appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has positions in Domino’s Pizza Enterprises and Treasury Wine Estates. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Domino’s Pizza Enterprises, DroneShield, and Treasury Wine Estates. The Motley Fool Australia has positions in and has recommended Treasury Wine Estates. The Motley Fool Australia has recommended CAR Group Ltd, Domino’s Pizza Enterprises, and Flight Centre Travel Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.