Tag: Stock pick

Nickel Industries Ltd (ASX: NIC) shares are trending higher on Wednesday as investors react to developments linked to its Indonesian operations and a company update.

At the time of writing, the nickel producer’s shares are up 6.78% to 94.5 cents.

Despite recent volatility, the stock remains a strong performer over a longer period, up roughly 50% over the past 12 months.

Here’s what’s behind today’s move.

Approval supports near-term production outlook

Earlier today, media reports confirmed that Nickel Industries has secured approval for its 2026 nickel ore sales plan in Indonesia.

The approval, known as the RKAB, essentially sets the company’s permitted production and sales volumes for the year. In this case, it allows for a material increase in output from its Hengjaya Mine.

Nickel Industries is now targeting around 14.3 million wet metric tonnes (wmt) of ore sales in 2026, up from approximately 9 million wmt previously.

A large portion of this supply is expected to feed into its downstream processing operations, including the Excelsior Nickel Cobalt (ENC) project.

This gives the company more certainty over feedstock and supports its mining and processing operations.

Fatal incident disclosed in ASX release

Alongside this, Nickel Industries also released an announcement addressing a fatal accident at its Indonesian operations.

According to the update, the incident involved a contractor engaged in transmission line construction linked to the ENC project.

The accident occurred on a haul road at the Hengjaya Mine, where infrastructure is currently being developed.

Management stated that it is working with the relevant contractor and Indonesian authorities as investigations continue.

While the announcement does not directly impact the company’s production guidance, it remains a significant development for its operations.

Nickel price backdrop remains mixed

The nickel market has remained volatile in recent weeks.

Nickel prices have eased back toward around US$17,000 per tonne, reflecting softer demand expectations and broader macro uncertainty.

At the same time, supply-side factors in Indonesia continue to play a key role in shaping market dynamics, particularly as production levels increase.

Higher production is being approved while prices are still weak, so keeping costs low is becoming more important.

Foolish Takeaway

Today’s move reflects clearer production expectations and continued progress across its Indonesian projects.

The RKAB approval provides a set pathway for higher output in 2026, particularly as the company ramps up downstream processing capacity.

However, this is offset by the fatal incident disclosed in today’s release, along with ongoing pressure on nickel prices.

With the stock up strongly over the past year, near-term performance will depend on execution and nickel price movements.

The post This ASX mining stock just jumped. Here’s what’s driving the move today appeared first on The Motley Fool Australia.

More reading

• 4 of the best ASX mining stocks to buy in the current environment
• Here are the top 10 ASX 200 shares today
• 2 ASX mining shares with 60% to 100% potential upside: experts
• Bell Potter is tipping this ASX small-cap to rise 65%
• 5 things to watch on the ASX 200 on Tuesday

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.

Many of Australia’s top brokers have been busy adjusting their financial models and recommendations again. This has led to a number of broker notes being released this week.

Three ASX shares that brokers have named as buys this week are listed below. Here’s why their analysts are feeling bullish on them right now:

Cochlear Ltd (ASX: COH)

According to a note out of UBS, its analysts have retained their buy rating and $302.00 price target on this hearing solutions company’s shares. The broker believes that recent share price weakness has created an attractive entry point for investors. This is especially the case given how UBS believes the new next-generation cochlear implant platform, Nexa, is expected to underpin a strong earnings recovery. It believes that with limited competition, Cochlear is well-placed to win market share. And while there are concerns over gene therapies, UBS doesn’t believe this is something that will impact its near term performance. The Cochlear share price is trading at $164.17 on Wednesday afternoon.

Goodman Group (ASX: GMG)

A note out of Morgans reveals that its analysts have upgraded this industrial property company’s shares to a buy rating with a trimmed price target of $32.45. Morgans highlights that Australian REITs have fallen significantly in recent months partly due to rising interest rates. However, it feels that this has been an overreaction and has created an opportunity for investors to buy high-quality shares like Goodman at attractive prices. In addition, Morgans believes that Goodman shares could start to re-rate once inflation expectations begin to moderate. The Goodman share price is fetching $25.85 at the time of writing.

Life360 Inc (ASX: 360)

Analysts at Bell Potter have retained their buy rating on this family safety technology company’s shares with a trimmed price target of $37.75. According to the note, the broker has been looking ahead to Life360’s quarterly update. It believes that after setting expectations relatively low for the first quarter, there is some chance of a small beat. However, it suspects this could be with its adjusted EBITDA margin rather than monthly active user growth. Outside this, the broker has lowered its valuation to reflect changes to its model, putting more emphasis on earnings and cash flow. Overall, the broker thinks recent share price weakness is an opportunity for investors to buy shares at a very attractive price. The Life360 share price is trading at $19.46 on Wednesday.

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

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

The Alliance Aviation Services Ltd (ASX: AQZ) share price is surging on Wednesday following a market update from the company.

At the time of writing, shares are up 19.81% to 63.5 cents. By comparison, the S&P/ASX All Ords Index (ASX: XAO) is hovering 1.8% higher.

Despite today’s strong move, the stock remains under significant pressure over a longer period, down close to 50% in 2026.

Here’s what the company announced.

Update addresses fuel price concerns

Alliance released a market update in response to recent volatility in jet fuel prices and its potential impact on the business.

According to the company, it has limited direct exposure to fuel price movements.

Under its wet lease arrangements, customers typically bear fuel costs. Meanwhile, contract flying customers are subject to fuel repricing mechanisms, which reduce Alliance’s exposure to fluctuations.

As a result, the company said current jet fuel price volatility is expected to have minimal impact on its contracted operations or near-term earnings outlook.

Operations remain stable

Alliance also confirmed that it is not experiencing any fuel supply constraints.

Operational performance remains robust, with the company continuing to meet its contracted service levels. Management noted that on time performance and safety metrics remain a key focus.

The company added that it is maintaining close engagement with customers to support ongoing operations in the current environment.

Alliance highlighted that its contracted customer base continues to provide forward revenue visibility, with demand remaining broadly in line with prior periods.

No change to guidance

Despite the recent volatility across fuel markets, Alliance confirmed there is no change to its FY26 profit before tax guidance.

This suggests that at this stage, recent developments have not materially altered expectations for the year ahead.

Maintaining guidance may provide some reassurance to the market, particularly given the recent uncertainty across fuel markets and broader cost pressures.

The company is also continuing to progress its operational turnaround program. Management is focused on improving capital allocation, strengthening free cash flow, and better managing sales and customer relationships.

Foolish Takeaway

Today’s share price move appears to reflect relief from investors following concerns around rising jet fuel prices.

Recent volatility in energy markets has raised questions about potential cost pressures for aviation-related businesses.

However, the market update has effectively addressed those concerns, reinforcing that its business model provides a degree of protection from fuel price swings.

Given the stock’s sharp decline over recent months, today’s update may also be prompting a short-term reassessment of risk.

The post This beaten-down ASX stock just jumped nearly 20%. Here’s why it’s suddenly flying appeared first on The Motley Fool Australia.

More reading

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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.

ASX 200 energy shares are falling on Wednesday as the Brent Crude oil price slips more than 6% to under US$100 per barrel.

The S&P/ASX 200 Energy Index (ASX: XEJ) is down 2.5% while the broader S&P/ASX 200 Index (ASX: XJO) is up 1.75%.

Oil and gas prices are easing across the board today after the United States said it was continuing discussions with Iran to end the war.

Israeli media indicated that the US had proposed a one-month ceasefire to facilitate ongoing discussions for a diplomatic resolution.

The New York Times reported that the US had sent Iran a 15-point proposal via Pakistan, which had offered to act as an intermediary.

Trading Economics analysts commented:

These developments outweighed concerns over further Middle East escalation after President Donald Trump ordered the deployment of roughly 2,000 troops to the region, as the administration considered options to loosen Iran’s control over the Strait of Hormuz.

The 2,000 troops are from the US Army’s 82nd Airborne Division.

Iran continues to deny it has even engaged in negotiations with the US, and the Strait of Hormuz remains effectively shut.

This is disrupting 20% of the world’s oil and gas supplies, which has led to rising fuel prices and some shortages.

In Australia, petrol prices are as high as 247.9 cents per litre in Sydney.

Scores of service stations across the nation have run out of either petrol or diesel, or both.

Nine of the top 10 fastest fallers on the ASX 200 today are energy shares.

Let’s take a look.

ASX 200 energy shares slip on Wednesday

The worst-hit ASX 200 energy share today is Karoon Energy Ltd (ASX: KAR), down 6.7% to $1.92.

The market’s biggest ASX 200 oil share, Woodside Energy Group Ltd (ASX: WDS), is down 3.5% to $33.50 per share.

The Santos Ltd (ASX: STO) share price is down 2.4% to $7.66.

Ampol Ltd (ASX: ALD) shares are down 2.8% to $32.88.

The Viva Energy Group Ltd (ASX: VEA) share price is down 2.5% to $2.39.

Beach Energy Ltd (ASX: BPT) shares are 5.1% lower at $1.25.

ASX 200 coal shares are also lower today.

The Yancoal Australia Ltd (ASX: YAL) share price is 5.3% lower at $7.86.

The Whitehaven Ltd (ASX: WHC) share price is down 4.6% to $8.89.

The New Hope Corporation Ltd (ASX: NHC) share price is $5.59, down 4.3%.

Why is the rest of the market rising?

The ASX 200 is rising strongly on hopes that the war in Iran will end soon, as well as new inflation data that surprised on the downside.

The Australian Bureau of Statistics reported that the Consumer Price Index (CPI) lifted 3.7% in the 12 months to February.

That’s down 0.1% from the 12 months to January.

Markets were expecting 3.8% for February, so the data was a pleasant surprise for investors.

However, inflation remains well outside the Reserve Bank’s target range of 2% to 3%, with its ultimate goal being to reach the mid-point.

Housing costs, which incorporate electricity prices, new homes, and rents, rose the most at 7.2% over the 12 months.

Electricity prices alone rose 37% over the period.

The post Why are ASX 200 energy shares tumbling today? appeared first on The Motley Fool Australia.

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• Why Amplitude Energy, Atlas Arteria, Computershare, and Woodside shares are falling today
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• $7,500 invested in New Hope shares 5 weeks ago is now worth…

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

There is a wide range of ASX dividend shares available on the sharemarket for Australian investors seeking reliable passive income.

The problem is working out how to narrow it down to the ones that suit your portfolio best.

Here are three high-yield ASX dividend shares that could offer a great passive income.

Atlas Arteria (ASX: ALX)

Atlas Arteria is a global owner, operator, and developer of toll roads, with a portfolio of five toll roads in France, Germany, and the United States.

The defensive-style asset benefits from long-term, predictable, and recurring cash flow, enabling it to pay consistently high dividends to shareholders.

Atlas is due to pay its second-half FY25 dividend to investors next month. It will pay 20 cents per security, unfranked, which equates to a trailing 9.1% dividend yield using the $4.355 share price at the time of writing. 

IPH Ltd (ASX: IPH)

IPH provides intellectual property (IP) services through a network of global brands. The group operates across ten jurisdictions in 25 countries, making it the largest IP services provider in the Asia-Pacific region. Its services cover everything from patent filing and trademarks to prosecution, portfolio management, and enforcement. A significant share of its revenue comes from the Asia-Pacific market.

The ASX dividend company consistently generates a strong cash flow from its operations. The company reported cash conversion of 101% in its first-half FY26 results.

It is this strong cash flow that has enabled the company to be an established, reliable dividend payer. It also gradually increases its dividend over time.

IPH paid an interim dividend of 10 cents per share yesterday, up 11.8% on the prior period. The company is expected to pay fully-franked dividends of 38 cents per share in FY26, translating to a dividend yield of 11.7% at IPH’s $3.245 share price at the time of writing.

Nine Entertainment Co. Holdings Ltd (ASX: NEC)

Media giant Nine Entertainment underwent a strategic reshape of its business during the first half of FY26. The shift included a broad portfolio restructure involving acquisitions and asset sales, enhancing its digital and streaming revenue.

The ASX dividend company acquired QMS Media, sold Nine Radio, and restructured its NBN and Darwin TV operations. It also sold its controlling stake in property platform Domain. 

The $1.4 billion Domain deal allowed Nine to reduce debt, boost its balance sheet, and return roughly $777 million (paying a special dividend at a rate of 49 cents per share) to investors in late 2025. 

Nine is due to pay investors an unfranked interim dividend of 4.5 cents per share next month. The company is expected to pay 9 cents per share for the full year, which translates to a dividend yield of 9.88% at its current share price of 89.5 cents a piece.

The post 3 ASX dividend shares yielding 9% (or more) appeared first on The Motley Fool Australia.

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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 no position in any of the stocks mentioned. The Motley Fool Australia has recommended IPH Ltd and Nine Entertainment. 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 All Ordinaries Index (ASX: XAO) is pushing higher on Wednesday as activity across the ASX reaches unusually elevated levels.

At the time of writing, the All Ords is trading at 8,748.9, up 2.07% for the session. Despite recent volatility, the index remains up approximately 7.13% over the past 12 months.

The move comes alongside a sharp lift in trading activity across the ASX, with new data pointing to record futures volumes during March.

Here’s what’s driving the surge.

Record trading activity across the ASX

According to The Australian, Australia’s futures market is on track for its largest trading month on record.

With less than a week remaining in March, ASX 24 futures volumes have already exceeded 28 million contracts. This surpasses the previous record set during the COVID-19 market shock in March 2020.

The increase in activity has not been limited to derivatives.

Cash equity markets have also seen a rapid rise in turnover. About $27.1 billion in trades were recorded last Friday, making it one of the largest trading days on record for Australian equities.

At the same time, a new single-day futures record was set earlier this month, with 4.04 million contracts traded on 11 March.

What’s driving the surge?

The spike in activity reflects a combination of global and domestic factors rather than any single event.

The escalating war in the Middle East has contributed to ongoing volatility across global energy markets. Oil price swings in recent weeks have flowed through to broader market sentiment and trading activity.

At the same time, the interest rate outlook remains uncertain. Markets are pricing in further rate increases in 2026, totalling around 75 basis points.

This has led to increased use of futures and derivatives to manage exposure to both equity markets and interest rates.

ASX management noted that recent conditions have driven higher hedging activity as investors respond to shifting market conditions.

What it means for the All Ords

For the All Ords, the increase in activity does not point to a clear direction.

Instead, it reflects a market where investors are adjusting their positions as conditions change.

Higher trading volumes often come with more volatility, as money moves more quickly between sectors and asset classes.

The recent performance shows this. While the index is higher today, it is still down around 5.36% over the past month and about 2.99% lower year to date.

This shows markets are still working through a mix of macro pressures despite the rise in trading activity.

The post The ASX just hit a rare milestone. Here’s what it means for your money appeared first on The Motley Fool Australia.

More reading

• 4 ASX All Ords shares at 52-week lows: Buy, hold, or sell?
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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.

Qantas Airways Ltd (ASX: QAN) shareholders have had a brutal month. This time last month, the national carrier’s share price was sitting at $10.65 a share. Today, those same shares are worth just $8.77 at the time of writing. And that’s after today’s 5.1% rally (so far). As of yesterday’s closing price of $8.34, Qantas stock was down by almost 22% over the previous month.  

As of current pricing, the broader S&P/ASX 200 Index (ASX: XJO) has lost 6.35% since 25 February. So, Qantas has been a disproportionate loser for investors during this tough period. 

The obvious catalyst for this underperformance is the ongoing US-Iran war. 

Qantas is being hit from all angles here. The most obvious headwind the airline is facing is oil prices. With Brent crude surging past US$100 a barrel amid the escalating conflict in the Middle East, Qantas is staring down one of the sharpest spikes in its single largest fixed cost in years. Fuel typically accounts for somewhere between 20% and 25% of an airline’s total costs. When it moves this quickly, there is little management can do to offset the hit in the short term. 

But Qantas’ pain doesn’t end with oil. The war has also disrupted some of the busiest airline routes in the world, with popular airports in Dubai and Abu Dhabi now under constant threat. 

Further, airlines are sensitive to broader economic growth – Australians (along with everyone else) tend to cut back on travel when they are worried about economic uncertainty. With global growth in doubt thanks to the spike in energy prices we are seeing, demand for air travel over at least the remainder of 2026 is arguably looking a little shaky.  

But I think this sell-off raises much bigger questions than just what oil prices do next.

Should investors buy the dip on Qantas stock?

I’ve never been a huge fan of airline stocks as long-term investments.  

Airlines are capital-intensive businesses that require enormous ongoing investment just to keep operating. They face fierce competition, thin margins, powerful unions, and huge sensitivity to an endless array of potential external shocks that no CEO can control. Oil prices, pandemics, geopolitical crises, recessions. The list goes on. 

I’ve got nothing against Qantas itself. It is a well-run airline that has delivered some impressive results in recent years. Its Frequent Flyers program is one of the most valuable assets in corporate Australia.

However, it is difficult for even a well-managed company to be a lucrative long-term investment if it operates in a structurally difficult industry. Just as having the best house on a bad street doesn’t guarantee prosperity. 

For my money, there are simply better places on the ASX to park long-term capital. Companies with genuine moats, recurring revenue, and the ability to raise prices without losing customers. The kind of businesses that don’t need oil prices to cooperate in order to turn a consistent profit. 

As such, I wouldn’t be buying Qantas shares at $8.77 today, or indeed at $4.77 if they got back to that pricing. There are simply better investments elsewhere, at least in my view.

The post Qantas stock is down 17.7% in a month. Time to buy? appeared first on The Motley Fool Australia.

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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 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 having a strong session and is pushing notably higher. At the time of writing, the benchmark index is up 1.85% to 8,535.6 points.

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

Amplitude Energy Ltd (ASX: AEL)

The Amplitude Energy share price is down 35% to $1.72. Investors have been selling the energy company’s shares following an update on drilling operations at its Isabella prospect in the Offshore Otway Basin, located in Victoria. Amplitude Energy advised that pressure depletion during the testing period does not support a commercial development of the Isabella field. As a result, the well will now be plugged and abandoned. The company’s managing director and CEO, Jane Norman, said: “The result at Isabella is disappointing but geological data from this well will help inform our future exploration prospects.”

Atlas Arteria Group (ASX: ALX)

The Atlas Arteria share price is down 4% to $4.34. This has been driven by the toll road operator’s shares going ex-dividend this morning for its final dividend for FY 2025. Last month, when Atlas Arteria released its full-year results, it declared a final dividend of 20 cents per share. Eligible shareholders can now look forward to receiving this next month on 9 April.

Computershare Ltd (ASX: CPU)

The Computershare share price is down over 2% to $27.75. This may have been caused by a broker note out of Ord Minnett this morning. According to the note, the broker has downgraded the share registry company’s shares to a hold rating with a $36.75 price target.

Woodside Energy Group Ltd (ASX: WDS)

The Woodside share price is down almost 4% to $33.45. Investors have been selling Woodside shares after oil prices sank overnight and during Asian trade on Wednesday. This has been driven by optimism that a US-Iran peace deal could be on the horizon. It isn’t just Woodside shares that are falling today. The S&P/ASX 200 Energy index is down 2.3% at the time of writing.

The post Why Amplitude Energy, Atlas Arteria, Computershare, and Woodside shares are falling today appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has positions in Woodside Energy Group Ltd. 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 All Ordinaries Index (ASX: XAO) is highly unlikely to rocket 112% over the next year, but this ASX mining share is forecast to do just that, according to the investment team at Moelis Australia.

The potentially money-doubling stock in question is Carnaby Resources Ltd (ASX: CNB). And that estimate comes atop today’s outsized gains.

Indeed, Carnaby Resources shares are on fire today.

The ASX mining share closed yesterday trading for 36.5 cents. In early afternoon trade on Wednesday, shares are changing hands for 42.5 cents apiece, up 16.4%.

We’ll look at why Moelis expects that today’s gains are just the tip of the iceberg below.

But first…

Why is the ASX mining share rocketing today?

Carnaby Resources is primarily focused on its Greater Duchess Copper Gold Project, located in Queensland.

Investors are piling into the ASX mining share today after the company announced new high-grade exploration drill results at Greater Duchess.

Carnaby reported top results from one drill hole of 8.1 metres at 9.9% copper equivalent, including 4.3 metres at 16.5% CuEq from 475 metres.

“These results are important as they demonstrate the excellent down plunge continuity of the extremely high-grade breccia shoot mineralisation over at least 600 metres below the Ore Reserve Open pit,” Carnaby Resource managing director Rob Watkins said.

“The Trek 1 extension is shaping up as a very significant high-grade discovery which will be adding valuable mineral inventory to the Greater Duchess Project Mineral Resources,” he added.

Which brings us to…

Why Moelis is bullish on Carnaby Resources shares

Prior to today’s announcement, Moelis reiterated its buy rating on the ASX mining share.

According to the broker:

The defining feature of CNB in our view remains the low-capital pathway to the commencement of production. The planned development pathway will not require the construction of a concentrator, given the company’s toll treatment agreement with Glencore at the nearby Mt Isa concentrator and accompanying offtake.

From an economic perspective, this may not be the most value additive approach if CNB were capital unconstrained, however, in this market, we think investors will be more interested in avoiding risk than academic arguments around the value of fixed infrastructure if CNB were to build a new facility.

Moelis also highlighted the production potential of Greater Duchess, as revealed by Carnaby Resources’ updated pre-feasibility study (PFS) and maiden Ore Reserve estimates.

The broker noted that headline elements include:

• 12-year production profile, producing ~15kt Cu Eq on average per annum
• MA Est. pre-production capex A$15m, pre-tax NPV (13%) at spot prices: A$650m. MA Est. expected IRR ~130%
• Feasibility study on track for completion June Q (2026) with FID expected within the current half. First production slated for 2H CY26
• Maiden Ore Reserve of 8.4mt grading 1.7% Cu & 0.3g/t Au for 164kt Cu Eq

Connecting the dots, Moelis has a 12-month price target of 90 cents per share on Carnaby Resources.

That represents a potential 111.8% upside from this ASX mining share.

The post Why this buy-rated ASX mining share is tipped to surge 112% appeared first on The Motley Fool Australia.

More reading

• This ASX copper company’s shares are defying a weak market after good project news

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.

Myer Holdings Ltd (ASX: MYR) shares are looking cheap following the company’s first half results, according to the team at Canaccord Genuity, which thinks they could more than double.

Solid first-half result

Myer this week reported that first-half sales had jumped 24.5% to $2.279 billion. These results included the Myer Apparel Brands division for the first time.

The company said it had a record Black Friday sales period and that “total sales for the Group through December and January in line with the prior corresponding period.”

The company’s underlying net profit came in at $51.7 million, up 21.7%, and its statutory net profit came in at $40.3 million, up 32.8%.

Myer executive chair Elizabeth Wirth said it was a solid result.

Our 1H26 result reflects momentum across our business as we continue to implement the Myer Group Growth Strategy. Sales growth was achieved both in store and online, and our disciplined cost management allowed us to make targeted investments including in eCommerce, Marketing, Product, Merchandise and Supply Chain to deliver on our plan. The relaunched MYER one has a record 5.1 million active members, demonstrating the growing traction with our customers. The program provides valuable understanding of what our customers want and how they prefer to shop. These insights are helping inform our revamped offering across the key categories of womenswear and beauty, where we have welcomed La Mer, TOPSHOP and GAP to Myer, with more brand announcements to come.

Ms Wirth said in the second half the company would be focused on improving the loyalty program, “and continuing activities to integrate Myer Apparel Brands, as well as resetting our fashion and beauty offerings”.

The company had net cash of $287 million at the end of the half.

Myer shares looking cheap

The Canaccord Genuity team said the results were “largely as expected”, albeit with some softer-than-expected trading through December and January, “taking the gloss off what could have been a defining result”.

They added:

Management seemed confident in the near-term trajectory, noting multiple initiatives are now well underway and that the business has been working with a tough consumer for some time now. Brand ranging and exclusivity dynamics are progressing at pace with a statement of the day being “It’s more around looking at the data and understanding where we’ve got trust and where we have a right to play.

The Canaccord team said the foundations of the business look firmer with operating costs under control, and an improved second half expected.

Canaccord has a price target of 73 cents on Myer shares, down from 79 cents, but still well above the current share price of 30.2 cents.

The company is currently valued at $501.9 million.

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