In the next S&P Dow Jones Indices rebalance on 22 December, six companies will ascend into the S&P/ASX 200 Index (ASX: XJO).
Three are gold mining stocks: Ora Banda Mining Ltd (ASX: OBM), Pantoro Gold Ltd (ASX: PNR), and Resolute Mining Ltd (ASX: RSG).
Also entering the ASX 200 are Canadian uranium miner, Nexgen Energy (Canada) CDI (ASX: NXG), telco share Aussie Broadband Ltd (ASX: ABB), and nuclear technology developer, Silex Systems Ltd (ASX: SLX).
Rebalances are important because they ensure our indices accurately rank Australia's largest companies by market capitalisation.
Joining the benchmark index is a major win for these companies.
Not only does it give them a bit of prestige and greater standing in the minds of investors, but it also forces passive institutional investment.
You see, many exchange-traded funds (ETFs) and managed funds track the performance of the ASX 200.
So at each rebalance, the fundies have to buy the stocks that join the ASX 200 and sell those that leave so their ETFs function correctly.
This often leads to extra trading activity around the ASX 200 rebalance date, which may affect a company's share price.
So, how have these about-to-be ASX 200 shares performed in 2025, and should you buy any of them?
Let's defer to the experts.
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Expert ratings on newly-crowned ASX 200 shares
Ora Banda Mining shares
The Ora Banda Mining share price has risen 83% in 2025 to $1.21 at the time of writing.
Macquarie just upgraded its rating on Ora Banda shares from neutral to outperform with a 12-month price target of $1.50.
The broker said:
We still expect gold to trade at historically high levels in the near-term while also being held back by an upturn in global growth and a monetary policy easing cycle that falls short of market expectations.
MA Financial has a hold rating on this soon-to-be ASX 200 gold share with a $1.22 target.
Pantoro Gold shares
The Pantoro Gold share price has risen 194% to $4.56 in the year to date (YTD).
Tim McCormack from Canaccord Genuity has a buy rating on Pantoro Gold shares with a price target of $7.30.
Morgans maintained a trim rating on the soon-to-be ASX 200 share after its 1Q FY26 update.
The broker lowered its price target from $5.92 to $5.06, commenting:
PNR delivered a softer-than-expected operating result for 1Q, even relative to our already conservative expectations despite record gold prices.
A series of isolated operating issues and underground mine sequencing drove lower head-grade and thus lower ounce production and higher unit costs.
PNR has reiterated its FY26 guidance.
Resolute Mining shares
The Resolute Mining share price has risen 159% to $1.06 per share on Tuesday.
Macquarie gives Resolute Mining shares an outperform rating with a price target of $1.35.
The broker said:
Execution of the Syama expansion project remains key to our outlook for RSG in Mali.
Delivery of the Doropo feasibility study and positive progress towards development is also key longer term.
RSG continues to be exposed to geopolitical risk in Mali due to recent actions by the government.
Canaccord Genuity also has a buy rating on this soon-to-be ASX 200 gold share with a 12-month target of $2.
Nexgen Energy shares
The Nexgen Energy share price has risen 30% in 2025 to $14.03 today.
Shaw & Partners has a buy rating on this soon-to-be ASX 200 energy share with a price target of $17.70.
Petra Capital is also optimistic with a buy rating and a target of $17.14.
Bell Potter gives Nexgen shares a hold rating with a price target of $13.05.
Aussie Broadband shares
The Aussie Broadband share price has risen 43% in the YTD to $5.05 today.
Macquarie recently downgraded Aussie Broadband shares to a neutral rating with a price target of $5.10.
Jarden gives this soon-to-be ASX 200 telco share a buy rating with a target of $5.80.
Canaccord Genuity is also positive on Aussie Broadband shares. It has a buy rating and a target of $6.85.
Silex Systems shares
The Silex Systems share price has risen 66% in 2025 to $8.47 today.
My colleague, Leigh Gant, describes Silex Systems as "one of the most fascinating energy technology stories on the ASX".
Canaccord Genuity has a buy rating with a target of $9.42 on this soon-to-be ASX 200 industrials share.
Shaw & Partners also has a buy rating with a 12-month price target of $11.20.
