The team at Ord Minnett has been busy in recent weeks running the rule over a number of popular ASX 200 shares.
Are they buys, holds, or sells? Let's see what the broker is saying about the names below:
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Boss Energy Ltd (ASX: BOE)
This uranium producer's shares have fallen by over 30% since the start of the year.
However, this is still not enough for Ord Minnett to recommend the ASX 200 share as a buy. Its analysts have a hold rating and $2.10 price target on tis shares. Though, this still implies substantial potential upside of 20% from current levels.
Commenting on its recent update and the investment opportunity, the broker said:
Boss Energy's share price took a beating – plunging 44% – when the now former market darling released negative guidance for FY26 – the key line was that recent drilling at the eastern end of Honeymoon had found less continuity in the mineralised horizons than assumed in feasibility studies. This suggests that more wells will be needed, meaning higher sustaining capital expenditure, and it also "challenges' Honeymoon's nameplate capacity.
The company plans an expert study, starting shortly, but with no end date confirmed yet. The key catalyst for the stock now will be the outcome of the study, which should provide an estimate on all-in sustaining costs (AISC), production and mine life from FY27.
Macquarie Group Ltd (ASX: MQG)
Ord Minnett is positive on this investment bank and believes that double-digit upside is on the cards for buyers.
The broker has an accumulate rating and $245.00 price target on its shares. This implies potential upside of 13.5% from current levels.
Commenting on the bank, the broker said:
Macquarie is exposed, both positively and negatively, to the market and geopolitical environments in which it operates, and this means risks to its earnings are greater than might be the case for other businesses. That said, its foresight in identifying global trends, such as the digitisation of the economy and infrastructure expansion as urbanisation intensifies, and its track record of shrewd investment decisions to profit off those trends, makes the company an attractive investment option on a medium-term view.
Newmont Corporation (ASX: NEM)
Finally, this gold miner's shares have just hit a record high and Ord Minnett thinks further records will be broken over the next 12 months.
Its analysts have put a buy rating and $115.00 price target on its shares. This suggests that upside of 11% is possible from current levels.
Commenting on the ASX 200 share, the broker said:
Ord Minnett see plenty of value in Newmont – some of its assets are running below optimum levels but the investment in improving grades and operational efficiency should allow their potential to be realised, pushing gold production to around 6.0 million ounces in CY27 from our now increased but still conservative forecast of 5.7 million ounces in CY25.
Getting the execution of these investments right should drive strong earnings growth and provide the impetus for an increase in its valuation multiple, which leads us to reiterate our Buy recommendation on Newmont and a target price of $115.00.
