Tag: Stock pick

The S&P/ASX 200 Index (ASX: XJO) is having a poor session on Thursday. In afternoon trade, the benchmark index is down 0.85% to 8,768.3 points.

Four ASX shares that are not letting that hold them back are listed below. Here’s why they are rising:

Deep Yellow Ltd (ASX: DYL)

The Deep Yellow share price is up 6% to $2.09. This follows the release of an exploration update from the uranium producer this morning. Deep Yellow advised that drilling at its flagship Tumas Project was successful. The company notes that drilling on the Tinkas prospect has confirmed the presence of uranium mineralisation in calcretised palaeochannel sediments, as well as in joints and fractures within schistose basement lithologies.

Develop Global Ltd (ASX: DVP)

The Develop Global share price is up 4.5% to $5.87. Investors have been buying the mining and mining services company’s shares following the release of its quarterly update. Management revealed that production at its Woodlawn copper-zinc mine was successfully stress-tested at rates well in excess of nameplate. The company’s managing director, Bill Beament, said: “It was pivotal quarter for Develop as we made huge progress across our three mining projects, setting up the Company for rapid growth. Woodlawn has met and exceeded our targets, culminating in the start of commercial production during the quarter. We are now set to increase cashflow generation as mining moves into higher-grades, coupled with historically low treatment charges.”

Resolute Mining Ltd (ASX: RSG)

The Resolute Mining share price is up 1.5% to $1.47. This follows the release of the gold miner’s quarterly update. The gold miner posted production of 59,603 ounces, which was in line with expectations. In addition, Resolute Mining’s all-in sustaining costs (AISC) were $2,210 per ounce, which was also in line with guidance. This underpinned operating cash flow of $119.8 million, boosting its net cash balance to $315.4 million.

Santos Ltd (ASX: STO)

The Santos share price is up 3% to $7.68. The catalyst for this has been the release of the energy giant’s first-quarter update. Santos recorded a 1% increase in production to 22.5 million barrels of oil equivalent. This supported a 3% increase in sales revenue to US$1.27 billion and free cash flow from operations of US$383 million. Santos’ managing director and CEO, Kevin Gallagher, said: “Our base business continues to perform reliably, supporting free cash flow generation. The Pikka phase 1 oil project is now mechanically complete with commissioning activities progressing well and first sales oil expected in the coming weeks.”

The post Why Deep Yellow, Develop Global, Resolute Mining, and Santos shares are pushing higher today appeared first on The Motley Fool Australia.

More reading

• Why Resolute shares are on watch after this major quarterly update
• Why is everyone talking about Core Lithium, Ampol and Santos shares on Thursday?
• Santos is back in focus. Here’s why the shares are pushing higher today
• Santos Q1 2026: Higher revenue, project ramp-up, steady guidance
• Deep Yellow provides March 2026 exploration update

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.

Resolute Mining Ltd (ASX: RSG) shares are in the green after the gold producer released its latest quarterly update today.

At the time of writing, the share price is up around 3.5% to $1.49, adding to a solid run in recent weeks. The stock is now up 13% over the past month and has gained over 21% since the start of 2026.

Here’s what stood out.

Production holds steady as pricing supports cash flow

Resolute reported gold sales of 69,352 ounces for the March quarter, with an average realised gold price of $4,858 per ounce, reflecting stronger gold prices over the period.

That flowed through to operating cash flow of $119.8 million for the quarter, with higher prices lifting overall cash generation.

For the full year, guidance remains unchanged, with the result landing broadly in line with expectations.

The company is targeting production of 250,000 to 275,000 ounces, with all-in sustaining costs expected between $2,000 and $2,200 per ounce.

Balance sheet strengthens as cash builds

The balance sheet was one of the key areas of movement in the update.

Net cash increased to $315.4 million at the end of March, up from $209 million at the end of December.

Total liquidity sits at roughly $425 million, which gives the company more flexibility as it moves into a heavier investment phase.

The increase was supported by higher gold prices and solid cash generation across the quarter.

Resource growth builds scale across key projects

Resolute also released an updated mineral resources and ore reserves statement.

Total mineral resources increased 60% to 17.6 million ounces, while ore reserves rose 55% to 6.8 million ounces.

The increase was largely driven by additions at the Doropo and ABC projects in Cote d’Ivoire.

This lifts the overall resource base and supports longer-term development plans.

Drilling across the ABC project continues to return wide zones of gold mineralisation, with extensions confirmed at Kona South.

Many of the reported intersections sit outside current resource models, which leaves room for further growth as drilling continues.

Doropo moves closer to development phase

The project remains on track, with first gold targeted in the second half of 2028.

Planned activities through 2026 include early works, procurement of long-lead items, and site infrastructure development. This includes bulk earthworks, camp construction, and power supply planning.

Foolish takeaway

Resolute’s latest update shows a business tracking steadily on production while moving into its next phase.

Attention is now shifting to Doropo, which is likely to play a bigger role in how the market values the business over time.

From here, it comes down to how Doropo is delivered.

It’s one to watch, but I’d be more interested in a pullback while development work continues to progress.

The post Why Resolute shares are on watch after this major quarterly update appeared first on The Motley Fool Australia.

More reading

• Why Deep Yellow, Develop Global, Resolute Mining, and Santos shares are pushing higher today
• Will these top-performing ASX stocks keep charging higher?
• Here are the top 10 ASX 200 shares today
• This ASX 200 gold stock has rocketed 200% higher… and there is more to come

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.

One of the most dramatic single-stock moments I can recall on the ASX occurred yesterday. It revolved around ASX 200 blue chip share, healthcare stock, and hearing-loss pioneer Cochlear Ltd (ASX: COH). Cochlear stock is an ASX staple, having first listed on our stock exchange back in 1995.

Since then, it has carved out a reputation as being one of the ASX 200’s most reliable blue chips, with a leading position in the global hearing loss industry. For years, investors were used to strong and steady returns from this company, resulting in it habitually trading at a lofty valuation. It was arguably the very definition of a sleep-well-at-night stock.

Well, anyone who currently owns this stock probably didn’t sleep too well last night. Yesterday, we saw one of the most shocking trading updates in ASX history. Certainly in Cochlear’s.

As we covered at the time, Cochlear told investors to expect the company to bring in between $290 million and $330 million in underlying net profit over the 2026 financial year. That’s down from the previous guidance of $435 million to $460 million. Ouch.

This downgrade seems to be a consequence of a perfect storm of negativity for Cochlear. The company is being buffeted by supply chain challenges, in part due to the ongoing closure of the Strait of Hormuz. But the company is also dealing with hospital capacity constraints and falling referrals.

Cochlear stock crashes 40% lower: How much have investors lost?

Investors reacted with cold fury to this news yesterday. After closing at $167.94 a share on Tuesday evening, Cochlear tanked a brutal 40.71% in yesterday’s trading alone to finish at just $99.58 a share.

Today, the selling has continued, with Cochlear stock down another 3.1% at the time of writing to $96.40 a share. At this pricing, the ASX 200 healthcare share has now lost 63% of its value in 2026 to date, and 63.7% over the past 12 months. Cochlear stock is also down more than 72% from the most recent record high of over $348 a share, seen back in July 2024.

To put this drop in some more context, the first time Cochlear hit $97 a share was way back in February of 2016. So, at least at this point in time, investors who bought Cochlear shares ten years ago have nothing to show for it except some dividend payments.

No doubt owners of Cochlear stock will be hoping that the company can stage a profitable comeback. But we shall have to wait and see what happens next.

At the current Cochlear stock price, this ASX 200 healthcare share has a market capitalisation of $6.41 billion, with a price-to-earnings (P/E) ratio of 18.6.

The post Cochlear stock down 40%: How much has this cost ASX investors? appeared first on The Motley Fool Australia.

More reading

• Why Bank of Queensland, Cochlear, Northern Star, and Paladin Energy shares are falling today
• Why are Cochlear shares down 36% today?
• Are ASX healthcare shares the next to rally?
• Where I’d invest $5,000 in ASX blue-chip shares
• Cochlear cuts FY26 earnings outlook amid softer sales

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 positions in and has recommended Cochlear. The Motley Fool Australia has recommended Cochlear. 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 out of form and in the red. At the time of writing, the benchmark index is down 0.75% to 8,778 points.

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

Black Cat Syndicate Ltd (ASX: BC8)

The Black Cat Syndicate share price is down 10% to $1.18. Investors have been selling this gold miner’s shares following the release of its quarterly update. It reported group gold production of 23,952 ounces (including third-party production of 11,553 ounces). This was below its guidance for 25,000 to 28,000 ounces. Nevertheless, Black Cat Syndicate posted operating cash flow of $61 million from 10,374 ounces of gold sold at an average realised price of $6,817 per ounce.

Mirvac Group (ASX: MGR)

The Mirvac share price is down over 2% to $1.74. This follows the release of the property company’s third-quarter update. While Mirvac delivered a solid update, some of its commentary may have spooked investors. Mirvac’s CEO, Campbell Hanan, said: “We are monitoring the potential impacts of the conflict in the Middle East, and are proactively managing the risks, with a sharpened focus on protecting liquidity, active supply chain management, and selective capital deployment. [..] Selected projects have seen a moderation in sales in recent weeks, but overall market fundamentals are solid, and enquiries remain strong.”

Qantas Airways Ltd (ASX: QAN)

The Qantas Airways share price is down over 3% to $8.58. Investors may have been selling Qantas shares today after oil prices charged higher overnight. Traders were bidding oil prices higher after Iran prevented ships from passing through the Strait of Hormuz. The shares of fellow airline Virgin Australia Holdings Ltd (ASX: VGN) are also tumbling on Thursday.

Temple & Webster Group Ltd (ASX: TPW)

The Temple & Webster share price is down almost 6% to $6.22. This has been driven by news that the online furniture retailer’s founder and CEO, Mark Coulter, is transitioning to an executive chair role from July. Temple & Webster advised that Coulter will be replaced by Susie Sugden, who previously held the roles of chief commercial officer and chief marketing officer at the company between 2016 and 2020. Commenting on the news, Mark Coulter said: “Bringing back Susie – a proven former executive at Temple & Webster, will provide me with more capacity to focus on strategy and longer-term growth opportunities, which will only become more important as we scale. I look forward to working closely with Susie as we continue our journey to become the largest retailer of furniture and homewares in Australia.”

The post Why Black Cat, Mirvac, Qantas, and Temple & Webster shares are falling today appeared first on The Motley Fool Australia.

More reading

• Mirvac provides Q3 FY26 operational update; reaffirms upbeat guidance
• Guess which ASX 200 stock is sinking 15% on CEO change
• Temple & Webster names Susie Sugden CEO as Mark Coulter becomes Executive Chair
• Down 30%! 3 ASX shares I’d buy now
• 4 ASX shares tipped to fly 100% to 125% higher

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

Both Life360 Inc (ASX: 360) and Pro Medicus Ltd (ASX: PME) shares have taken a heavy hit, with each down around 60% from their 52-week highs.

That sort of decline can sound the alarm bells. But when I step back, I still see two companies with strong growth engines, large addressable markets, and business models that still appear intact.

So, if I had $2,500 to invest today, I would be comfortable splitting it between these two.

Life360 shares

Life360 is easy to underestimate because of what it looks like on the surface. It is often seen as just a location-sharing app.

But the reality is much broader. The company now has a global network of nearly 100 million monthly active users and operates across more than 180 countries, with strong engagement and retention across its user base.

What I like is how this platform is evolving. Life360 is building a full ecosystem around family safety and coordination. That includes subscription services, hardware like Tile devices, and an expanding advertising and data platform.

This creates multiple ways to monetise the same user base over time.

Importantly, penetration is still relatively low in many markets. The company is still in the growing or scaling phase across much of its global footprint, which suggests there is meaningful runway ahead.

I also think the freemium model is a major advantage. A large free user base feeds into paid subscriptions, advertising, and partnerships. That creates a flywheel effect that can strengthen over time.

When I combine that with strong engagement, network effects, and new monetisation layers, I think the long-term opportunity remains compelling.

The recent share price weakness looks more like a reset in sentiment than a breakdown in the underlying business.

Pro Medicus shares

Pro Medicus sits in a very different space, but the appeal is just as clear to me.

This is a global healthcare imaging software company with a highly specialised product in Visage 7. It has been built over decades and incorporates deep domain expertise that is not easy to replicate.

What I find particularly interesting is the strength of its pipeline and contract momentum.

The company recently secured multiple new deals across major hospital systems, with total contracted volumes now exceeding $1 billion over the next five years.

That gives it strong revenue visibility. At the same time, Pro Medicus continues to expand its footprint across the US and Europe, with high-profile institutions helping to reinforce its position in the market.

Another key point is the scalability of the model. This is a capital-light, software-only business with very high margins and strong operating leverage. As more clients are added and existing ones expand usage, profits can grow faster than revenue.

I also think concerns around AI disruption have been overdone in this case.

Management has been clear that its platform is highly specialised and deeply integrated into hospital workflows, making it difficult to replicate. In fact, AI may end up enhancing productivity rather than replacing the need for its systems.

To me, that reinforces the durability of its competitive position.

Foolish takeaway

Both Life360 and Pro Medicus shares have seen sharp pullbacks despite continuing to deliver strong results.

Life360 is building a global platform with multiple monetisation levers and significant runway still ahead. Pro Medicus continues to execute in a specialised, high-margin niche with strong demand and long-term contracts.

They are very different businesses, but they share one key trait. Both are still growing into large opportunities. That is why I would be comfortable putting $2,500 to work across them today.

The post Why I’d invest $2,500 in Life360 and Pro Medicus shares today appeared first on The Motley Fool Australia.

More reading

• Buy, hold, or sell? Life360, Iress, Lynas Rare Earths shares
• 2 ASX shares tipped to grow at least 50% in the next 12 months
• What on earth’s going on with Pro Medicus shares?
• Are Pro Medicus shares a buy right now?
• 3 reasons to buy Life360 shares today

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 Life360. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Pro Medicus. The Motley Fool Australia has positions in and has recommended Life360. The Motley Fool Australia has recommended Pro Medicus. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Ampol Ltd (ASX: ALD), Core Lithium Ltd (ASX: CXO), and Santos Ltd (ASX: STO) shares are catching investor interest on Thursday.

Two of the popular ASX shares are outperforming the 0.6% losses posted by the S&P/ASX 200 Index (ASX: XJO) as we head into the lunch hour, while one is trailing that performance.

Here’s why these stocks are making headlines today.

Santos shares lift on quarterly revenue boost

Santos shares are up 2.4% at time of writing, changing hands for $7.62 apiece.

This outperformance follows the release of the ASX 200 energy stock’s March quarter update (Q1 2026).

Over the three months, Santos produced 22.5 million barrels of oil equivalent (mmboe), up 1% from Q4 2025. And sales revenue was up by 3% to US$1.27 billion.

The company’s free cash flow from operations of US$383 million was in line with Q4 2025. And management reaffirmed Santos’ full-year 2026 production and cost guidance.

Commenting on the progress of the company’s major projects intended to support Santos shares longer-term, CEO Kevin Gallagher said:

The Pikka phase 1 oil project is now mechanically complete with commissioning activities progressing well and first sales oil expected in the coming weeks.

The Barossa project has had a few challenges during commissioning. Pleasingly we have now replaced the dry gas seals on the compressors and the FPSO is expected to commence ramping up as we complete the flushing and cleaning of the heat exchanger trains.

The Quokka-1 appraisal well was a resounding success, confirming a high-quality resource that reinforces the strength of our Alaska portfolio.

Ampol shares gain on acquisition news

Ampol shares are also in the green today, up 1.2% at $33.20 each.

Investors are bidding up the Aussie fuel supplier following an update on Ampol’s proposed acquisition of fuel and convenience store operator EG Australia.

Ampol reported that it has submitted a formal remedy offer with the Australian Competition and Consumer Commission (ACCC).

In a move to address competition concerns and achieve regulatory approval for the acquisition, Ampol has increased the number of sites proposed for divestment to 41, up from the prior 37.

The ASX 200 energy stock expects a phase 2 determination from the ACCC by 5 June .

Core Lithium shares sinking on Finniss update

Joining Ampol and Santos shares in the headlines today we find Core Lithium.

After initially trading higher this morning, shares in the ASX All Ords lithium stock are down 6.2% at time of writing, swapping hands for 34.7 cents apiece.

This follows Core Lithium’s own quarterly update, in which the miner detailed the progress being made on its Finniss Lithium Project restart program.

“The March quarter was a defining period for Core, with Final Investment Decision approval and a fully committed Funding Package secured to restart Finniss,” Core Lithium managing director Paul Brown said.

The post Why is everyone talking about Core Lithium, Ampol and Santos shares on Thursday? appeared first on The Motley Fool Australia.

More reading

• Santos is back in focus. Here’s why the shares are pushing higher today
• Up 444% in a year, what’s moving Core Lithium shares today?
• Santos Q1 2026: Higher revenue, project ramp-up, steady guidance
• Ampol’s final ACCC remedy brings EG Australia acquisition closer
• 5 things to watch on the ASX 200 on Thursday

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 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.

Xero Ltd (ASX: XRO) shares are trading in the red again on Thursday morning.

At the time of writing, the shares are down 0.6% to $82.26 a piece.

Despite some minor softening today, the shares are still up 17% from a three-year low recorded 10 days ago.

Though, there is some way to go to recoup losses shed over the past 12 months. Xero shares are now down a staggering 48% over the past 12 months and have lost 58% of their value since peaking at an all-time high in June last year.

The question is: since rebounding from a multi-year low, are Xero shares now a buy? Or is this a temporary peak until the next crash?

Why have Xero shares crashed so far over the past year?

Xero has faced several major headwinds over the past year, sending its share prices crashing. Even robust financial results didn’t stop investors from selling up their stock.

The share price decline was mostly the result of a sector-side sell off of technology stocks following rising concerns that AI could disrupt traditional software models. Many investors were worried that smarter, cheaper tools could reduce the need for subscription platforms like Xero. And sentiment quickly turned south. 

At the same time, a sharp increase in the value of some ASX tech shares in 2025, including Xero, also sparked concerns that tech companies were overvalued and overdue a price correction. 

What has driven Xero shares higher over the past 10 days?

There hasn’t been any price-sensitive news out of the tech company to explain the recent rebound. This implies it’s mostly a result of value investors buying back into the stock at a more attractive price after the steep sell-off.

At the same time, it looks like headwinds from AI concerns are finally beginning to ease.

Is the tech stock a buy, hold or sell now?

Analysts appear to be incredibly bullish on Xero shares, with widespread anticipation that we’ll see some significant upside over the next 12 months.  

TradingView data shows that, out of 14 analysts, 13 have a buy or strong buy rating. They tip a potential average upside of up to 70% to $139.15 a piece over the next 12 months. 

However some analysts think the increase could be far steeper. The maximum $229.49 target price implies that Xero shares have the potential to soar 180% higher.

Hopefully, the latest rebound signals the beginning of a turnaround in investor sentiment and a resurgence of Xero’s share price. 

The post Are Xero shares a buy after rebounding 17% from three-year low appeared first on The Motley Fool Australia.

More reading

• 4 reasons to buy Xero shares today
• 5 oversold ASX shares to buy before the end of April
• 2 ASX tech shares to buy as sector rockets back: experts
• Is the worst over for Xero shares? Here’s what the chart is showing
• Buy, hold, sell: Xero, Woolworths, CBA shares

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

ASX shares Generation Development Group Ltd (ASX: GDG) and Airtasker Ltd (ASX: ART) just released quarterly updates. 

Following these results, the team at Morgans updated their guidance on both ASX shares. 

Here’s what the companies reported, and the broker’s updated view. 

Generation Development Group

Yesterday, Generation Development Group released a March 2026 quarterly update. 

This included:

• Funds Under Management increasing to $34.8 billion, up 30% vs the PCP for its subsidiary Evidentia Group
• FUM of $5.3 billion at 31 March 2026, up 35% on the prior year ended 31 March 2025 for Generation Life. 

It was reported earlier today that these results prompted a 22% share price crash yesterday. 

However this fall has now created a buy-low opportunity according to Morgans. 

The broker has lowered its price target to $6.16 (previously A$6.66). 

However from today’s stock price hovering around $3.62, this indicates an upside potential of 70%. 

We continue to be attracted to GDG’s exposure to structural growth areas, and its strong competitive positioning in these markets. With GDG trading at a >20% discount to our target price, we maintain our Buy recommendation.

Morgans isn’t the only broker with optimism around these ASX shares. 

Bell Potter also has a buy recommendation, along with a price target of $6.20. 

Airtasker

Airtasker is an online platform that connects people wanting to outsource tasks with people who are willing to do them for a fee. 

The company also recently released a quarterly update.

It reported: 

• Australian Gross Merchandise Value (GMV) of $56.7m, up 17.8% on pcp
• 3Q26 Group revenue was +~12% on the pcp to A$15.2m. 

On the back of Q3 performance, Airtasker re-affirmed FY26 guidance issued in February. 

Based on this guidance, the team at Morgans retained its buy recommendation, but slightly lowered its price target. 

Whilst our forecasts remain unchanged at this juncture, we adopt the new house risk-free rate of 4.6% (from 4.2%) into our valuation. Our price target is lowered to A$0.47 from A$0.51 as a result. We retain our BUY recommendation.

At the time of writing, Airtasker shares are down 3% today and are hovering around 25 cents per share. 

From this price, the updated target from Morgans indicates an upside potential of 88%. 

The post Broker reiterates buy ratings on 2 ASX shares appeared first on The Motley Fool Australia.

More reading

• After a 22% crash, this ASX 200 stock could be set to rise 74% according to Bell Potter
• These ASX 200 stocks are surging today and could rally 50% higher this year
• Here are the top 10 ASX 200 shares today
• 3 ASX penny stocks drawing positive ratings from experts
• Morgans says these small-cap ASX shares could rise 85%+

Motley Fool contributor Aaron Bell has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Airtasker. The Motley Fool Australia has recommended Generation Development Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Santos Ltd (ASX: STO) shares are pushing higher on Thursday, with the energy giant back in focus following its latest quarterly release.

The stock is up 3.36% to $7.69 in late morning trade.

That builds on a solid run this year, with Santos shares now up around 25% in 2026.

Here’s what is driving the latest move.

Revenue lifts as pricing and mix improve

Santos reported sales revenue of $1.27 billion for the March quarter, up 3% on the prior quarter.

The increase was supported by stronger crude oil sales and higher third-party LNG volumes.

Total sales volumes came in at 24.2 million barrels of oil equivalent, down 2% on the previous quarter.

Production edged higher to 22.5 mmboe, a 1% increase, reflecting contributions from recent developments.

Pricing across the portfolio was mixed.

Crude oil prices rose compared to the prior quarter, while LNG-linked pricing held broadly steady.

Free cash flow from operations was $383 million, in line with the previous quarter.

Major projects continue to move forward

The update pointed to continued progress across Santos’ development pipeline.

The Pikka Phase 1 project in Alaska reached mechanical completion early in the quarter.

Fuel gas introduction and commissioning activities are underway, with first oil targeted in 2026.

At Barossa LNG, the FPSO is preparing to ramp up production following recent commissioning work.

Some delays were flagged during commissioning, though equipment issues have now been addressed.

The project is set to support future production growth.

Elsewhere, appraisal work at the Quokka discovery confirmed a high-quality resource base, supporting further development planning.

Strong operating performance across core assets

Operationally, Santos continues to run its base assets at steady production levels.

PNG LNG maintained uptime above 98%, delivering an annualised run rate of 8.6 Mtpa.

GLNG also delivered steady output, with production holding at a similar level to recent quarters.

Across Australia, assets in the Cooper Basin and Western Australia produced consistently, despite some weather-related disruptions.

The company also noted progress on cost control, with disciplined capital allocation remaining in place.

Guidance unchanged as outlook holds steady

Santos left its full-year guidance unchanged.

Production is expected to come in between 101 and 111 mmboe, with sales volumes in the same range.

Total capital expenditure is forecast at $1.9 billion to $2.1 billion, while unit production costs are expected to range from $6.95 to $7.45 per barrel of oil equivalent.

The company also confirmed it will host an investor day in late May.

Foolish takeaway

This looks like a business moving through the build phase and getting closer to bringing projects online.

Production has not yet increased, but the groundwork is in place with multiple developments nearing completion.

That is likely what the market is starting to price in.

Personally, I would be more interested in a pullback.

The long-term setup still looks solid, but after a 25% run this year, the easier gains may already be in.

The post Santos is back in focus. Here’s why the shares are pushing higher today appeared first on The Motley Fool Australia.

More reading

• Santos Q1 2026: Higher revenue, project ramp-up, steady guidance
• 5 things to watch on the ASX 200 on Thursday
• 5 things to watch on the ASX 200 on Wednesday
• 5 things to watch on the ASX 200 on Tuesday
• 5 things to watch on the ASX 200 on Monday

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.

A number of ASX gold shares are in the spotlight on Thursday after releasing quarterly updates.

Let’s see what they reported and how the market is reacting to the releases. Here’s what you need to know:

Perseus Mining Ltd (ASX: PRU)

The Perseus Mining share price is edging lower today after the gold miner released its third-quarter update.

The company posted production of 107,144 ounces of gold at an all-in site cost of US$1,748 per ounce. The latter was comfortably lower than its average realised price, which underpinned an average cash margin of US$2,395 per ounce of gold produced. This delivered estimated operating cash flow of US$252 million.

FY 2026 production and all-in site cost guidance remains unchanged at 400,000 ounces to 440,000 ounces with an AISC of US$1,600 per ounce to US$1,760 per ounce.

Regis Resources Ltd (ASX: RRL)

The Regis Resources share price is also down slightly today.

It released its third-quarter update and reported gold production of 90.6k ounces at an all-in sustaining cost (AISC) of $2,807 per ounce.

This comprises Duketon production of 57.5k ounces at an AISC of $3,139 per ounce and Tropicana production of 33.1k ounces at an AISC of $2,140 per ounce.

Gold sales for the quarter were 89.1k ounces for a total of $622 million at an average realised price of $6,977 per ounce.

Looking ahead, while the recent spike in diesel price is impacting the company’s costs, it advised that if the current prices stay steady, it will still expect to come within its guidance.

West African Resources Ltd (ASX: WAF)

The West African Resources share price is trading lower today following the release of the gold miner’s first-quarter update.

It reported quarterly gold production of 107,728 ounces with an AISC of US$1,921 per ounce. This underpinned cash flow from operating activities of $440 million, which lifted its cash balance to a record high of $847 million.

This means the company is performing in-line with its guidance for the year. West African’s executive chair and CEO, Richard Hyde, commented:

With quarterly production of 107,728 ounces gold at an AISC of US$1,921/oz from our two large low-cost gold production centres of Sanbrado and Kiaka in Burkina Faso and based on our planned production profile for 2026, WAF is on-track to achieve annual production guidance of 430,000 – 490,000 ounces of gold at an AISC below US$1,900/oz.

The post What did ASX gold shares Regis Resources, Perseus, and West African report today? appeared first on The Motley Fool Australia.

More reading

• Regis Resources posts solid March quarter with strong cash flow and dividend
• West African Resources posts record cash, strong Q1 gold output
• Perseus Mining lifts gold production and maintains strong balance sheet in March 2026 quarter
• Why is everyone talking about Regis Resources, Lynas and Rio Tinto shares on Tuesday?
• Why are West African Resources shareholders celebrating 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.