What did National Storage REIT report?

• National Storage REIT to be removed from the S&P/ASX 200 Index, pending final court approval of its acquisition.
• The removal and replacement process will take effect before the open of trading on Wednesday, 22 April 2026.
• Alkane Resources Ltd (ASX: ALK) will join the S&P/ASX 200 Index in NSR's place.
• The acquisition involves a consortium led by Brookfield Asset Management and GIC.

What else do investors need to know?

National Storage REIT's removal from the S&P/ASX 200 comes as the company approaches the completion of its acquisition by a global consortium. This follows a period of market speculation about National Storage's future on the index and under new ownership.

The change is subject to final court approval of the acquisition, a common step when listed entities are taken over and cease to be independent ASX-listed companies.

What's next for National Storage REIT?

If the court approves the acquisition as expected, National Storage REIT shares will be delisted, and investors will receive their consideration from the takeover consortium. The company's removal from the S&P/ASX 200 may affect portfolios tracking the index and eligibility for certain funds.

Investors might want to keep an eye out for the final court decision and any further updates from the consortium regarding the acquisition timeline and settlement process.

National Storage REIT share price snapshot

Over the past 12 months, National Storage shares have risen 27%, outperforming the S&P/ASX 200 Index which has risen 16% over the same period.

View Original Announcement

The post National Storage REIT to exit ASX 200 after takeover announcement appeared first on The Motley Fool Australia.

In early afternoon trade, the Alkane share price is up 3.20% to $1.775.

That leaves the stock up more than 180% over the past 12 months, lifting its market capitalisation to roughly $2.43 billion.

The modest gain still stands out on a softer market day, with the S&P/ASX 200 Index (ASX: XJO) down 0.1% to 8,951 points.

Let's take a closer look at what was announced today.

Strong quarter keeps full-year guidance on track

In its March quarter production update, Alkane produced 45,776 ounces of gold equivalent during the 3 months to 31 March.

That included 44,669 ounces of gold and 377 tonnes of antimony across its 3 operating mines, Tomingley in New South Wales, Costerfield in Victoria, and Bjorkdal in Sweden.

Sales for the quarter came in at 43,373 gold equivalent ounces, made up of 42,550 ounces of gold and 280 tonnes of antimony.

The balance sheet also strengthened over the period.

Cash, bullion, and listed investments finished the quarter at $374 million, up $128 million from the prior quarter. Total liquidity rises to $472 million when including its undrawn $110 million revolving credit facility expected in June.

Management also reaffirmed FY2026 production guidance of 160,000 to 175,000 gold equivalent ounces. Furthermore, all-in sustaining costs (AISC) were unchanged at $2,600 to $2,900 per ounce.

Management commentary

Managing director and CEO Nic Earner said:

Alkane has had an excellent quarter's production from our three operating mines…

He also added:

We have a very strong balance sheet with A$374 million in cash, bullion and listed investments at quarter end and total liquidity of $472 million including undrawn revolving credit facility.

That balance sheet growth is likely to remain a key focus for investors given the stock's strong rerating over the past year.

The combination of solid mine performance, stable cost guidance, and rising liquidity continues to support sentiment.

Foolish takeaway

Alkane still looks like one of the ASX gold sector's stronger momentum stocks. Rising production and a much larger cash position continue to support the rally.

With the stock now valued at around $2.43 billion and still tracking within FY2026 guidance, the latest update gives investors another reason to stay positive.

After gaining more than 180% over the past year, the latest quarter suggests the rally is still being supported by operating performance.

The post Up 180% in a year, this ASX gold stock climbs again appeared first on The Motley Fool Australia.

Two ASX gold shares that were hit particularly hard were Catalyst Metals Ltd (ASX: CYL) and Alkane Resources Ltd (ASX: ALK). 

These gold shares both fell roughly 14%. 

This was despite no price-sensitive news from the companies. 

Why are gold shares falling?

When conflict began in Iran, many experts tipped safe-haven assets like gold to continue to rise. 

However, many gold shares have now heavily fallen in recent weeks, as the bull run of 2025 appears to be officially over. 

This fall has been influenced by a combination of factors. 

Firstly, the global gold price has fallen from record highs. 

At the same time, investors are moving to other opportunities, with many gold valuations now appearing inflated. 

Some of this movement has likely been towards energy stocks. 

RBA cash rate hikes have also created headwinds for gold stocks, which usually perform better in a low-rate environment. 

Have Catalyst Metals or Alkane Resources fallen too far?

After such a massive crash yesterday, investors may be wondering if there is any upside for these gold shares. 

Of these two, it seems Catalyst Metals falls into that category. 

Recent targets from brokers indicate it has plenty of upside, particularly after yesterday's 14% dip. 

Recently, the company has been growing its resource base and production capacity, establishing itself as a rising mid-tier gold producer.

The company is engaged in the mineral exploration, evaluation, and production of gold across several states. 

Recently, the team at Morgans placed a buy rating on Catalyst and a price target of $15.24. 

From yesterday's closing price of $5.63, that indicates an estimated upside of roughly 170%. 

Similarly, 6 analysts forecasts via TradingView have an average one-year price target of $14.34. 

This indicates an approximate upside of 154% across the next 12 months. 

Less upside for Alkane Resources

Meanwhile, forecasts are much more varied for Alkane Resources. 

The company owns and operates Tomingley Gold Operations, an open-pit and underground gold mining development near Dubbo in central west New South Wales.

Based on 7 analyst ratings via TradingView, there is an average one-year price target ranging from $0.85 to $2.50. 

The lower end of this range would indicate a further fall to come of more than 35%. 

Meanwhile, the high end of these projections would be a healthy upside of 80%. 

The post These two ASX gold shares just crashed – should investors swoop in? appeared first on The Motley Fool Australia.

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:

Alkane Resources Ltd (ASX: ALK)

According to a note out of Bell Potter, its analysts have retained their buy rating and $1.95 price target on this gold miner's shares. This follows the release of a half-year update that revealed a step-up in operational and financial performance in the second quarter. The broker believes that if Alkane maintains consistent delivery at this level, the market will continue to positively re-rate its shares. Outside this, it likes the company due to it offering multi-mine gold and antimony exposure across three attractive jurisdictions, a strong balance sheet, and an operating platform focused on organic and inorganic growth options. The Alkane Resources share price is trading at $1.67 on Wednesday.

Paladin Energy Ltd (ASX: PDN)

Another note out of Bell Potter reveals that its analysts have retained their buy rating and $15.30 price target on this uranium producer's shares. The broker was pleased with Paladin Energy's half-year results, highlighting that revenue and costs were slightly better than expected. This led to a beat on the bottom line. Looking ahead, Bell Potter notes that Paladin Energy is positively exposed to rising uranium markets, with ~53% exposure to spot prices out to 2030. It also points out that production at LHM continues to improve. The only risk it sees is water disruptions as it enters a seasonally tricky period known for algal blooms which impact availability from the desalination plant. The Paladin Energy share price is fetching $11.60 at the time of writing.

Seek Ltd (ASX: SEK)

Analysts at Morgans have upgraded this job listings company's shares to a buy rating with a $27.50 price target. This follows the release of a half-year result that was largely in line with expectations. Seek posted a 12% increase in revenue and a 35% jump in net profit. In light of this, Morgans thinks that recent share price weakness has created a buying opportunity for investors. However, it concedes that Seek still has many questions to answer on the AI threat. The Seek share price is trading at $15.98 this afternoon.

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

The ASX gold stock raced 11% higher to end the session at $1.76.

This lifted its market capitalisation to $2.4 billion, which is the highest it has ever been.

The good news is that Bell Potter thinks there's more to come and is tipping this ASX gold stock as a buy.

What is the broker saying?

Bell Potter was pleased with the company's half-year results release on Monday. In response to the release, the broker said:

ALK reported a 1HFY26 financial result broadly in-line with our expectations. The result was distorted by the completion of the merger with Mandalay during the period. Compared with our forecasts, revenue was a slight beat and some costs were reported below the line. Key metrics included revenue of $404m (vs BPe $385m), EBITDA of $170m (vs BPe $148m) and statutory NPAT of $65m (vs BPe $69m). […] ALK's gold hedge book remains in place, with 46,150oz @ A$2,862/oz for delivery to June 2027. Following the merger with Mandalay this is diluted down to <20% of production providing relatively greater leverage to the gold price.

But the real standout for the broker was a notable step-up in operational and financial performance during the second quarter. It believes that if this continues, the market could re-rate this ASX gold stock. It adds:

In our view, the highlight and key takeaway from the result was the significant step-up in operational and financial performance between 1QFY26 and 2QFY26, which marked the first full quarter of operation for the consolidated Alkane/Mandalay group. Group production lifted from 30.0koz to 42.8koz qoq, AISC dropped from A$2,988/oz to A$2,739/oz qoq. EBITDA (adjusted) lifted by 287%, from $38m in 1QFY26 to $147m in 2QFY26 and EBITDA (adjusted) margins lifted from 26% to 57% qoq.

While benefiting from the tailwinds of rising gold prices, it still demonstrated a substantially improved foundation for ALK. We anticipate that if ALK maintains consistent delivery at this level, the market will continue to positively re-rate the stock.

Should you buy this ASX gold stock?

According to the note, the broker has retained its buy rating and $1.95 price target on Alkane Resources shares.

Based on its current share price of $1.76, this implies potential upside of approximately 11% for investors over the next 12 months.

Commenting on its buy recommendation, the broker said:

The improving operational performance has ALK tracking to meet FY26 production and cost guidance, which is unchanged. ALK offers multi-mine gold and antimony exposure across three attractive jurisdictions, a strong balance sheet and operating platform focused on organic and inorganic growth options. We retain our Buy recommendation and $1.95/sh target price.

The post Why this $2.4b ASX gold stock could be a top buy appeared first on The Motley Fool Australia.

One that Bell Potter thinks has just become an even stronger buy is named below. Let's see why the broker has just upgraded its valuation.

Which ASX gold stock?

The gold miner that Bell Potter is bullish on is Alkane Resources Ltd (ASX: ALK).

Following its merger with Mandalay Resources last year, the company owns the Costerfield gold-antimony mine in Victoria, the Björkdal gold mine in Sweden, and the Tomingley Gold Operation in Australia.

Bell Potter was very pleased with the ASX gold stock's performance in the second quarter, with its costs and production slightly better than expected. It said:

ALK released its December 2025 quarterly report, for which group production and costs tracked ahead [of] our forecasts and guidance. Group production was 43,633oz gold equivalent (Aueq) inclusive of 267t antimony (Sb) for the first full quarter of consolidated production from the merged ALK and Mandalay assets. This compared with our forecast of 41,291oz Au plus 227t Sb and guidance of ~42koz Aueq for the full quarter.

All-In-Sustaining-Costs (AISC) were A$2,739/oz, marginally below our forecast of A$2,780/oz and within guidance A$2,600-A$2,900/oz. Production improved at all assets, with higher grades a feature. AISC were well controlled and benefitted from a high by-product credit contribution on higher antimony prices.

Overall, the broker believes management deserve a lot of credit for this strong performance. It adds:

This is a very strong quarterly report and a great first full quarter of operations and integration for ALK. The improved operational performances across the asset portfolio through a period of change are a credit to ALK, from its mine operators to top level management.

Time to buy

According to the note, the broker has retained its buy rating on this ASX gold stock with an improved price target of $1.95 (from $1.40). Based on its current share price of $1.59, this implies potential upside of 23% for investors over the next 12 months.

This valuation upgrade has been driven largely by significant increases to its earnings per share (EPS) estimates to reflect higher gold price forecasts. It explains:

EPS changes in this report are: FY26: +37%; FY27: +69% and FY28: +58%, largely driven by our increased gold price forecasts. ALK offers multi-mine gold and antimony exposure, a strong balance sheet and platform focussed on organic and inorganic growth options. With this update our NPV-based target price increases 39%, to $1.95/sh,.

The post Why Bell Potter just upgraded its valuation of this ASX gold stock by 39% appeared first on The Motley Fool Australia.

The Perth-based company also increased its cash and bullion on hand by $58 million during the quarter to $232 million.

In addition to this, the company said in a statement to the ASX on Tuesday that it would receive another $18 million in January for payment for a shipment from its Costerfield mine in Victoria, which was delayed due to the Christmas holidays.

Alkane said it produced a record amount of gold in its second quarter, with the total coming in at 43,663 ounces of gold equivalent -including antimony sales – at an all-in sustaining cost of $2739 per ounce.

Guidance unchanged

The company said its guidance remained on track to come in at 160,000-175,000 ounces of gold equivalent at an all-in sustaining cost of $2600-$2900 per ounce.

Gold equivalent sales for the quarter came in at 44,084 ounces at an average gold price of $5785 per ounce and an average antimony price of $41,510 per tonne.

Alkane Managing Director Nic Earner said it was a solid result.

It has been an excellent quarter for Alkane, producing 42,767 ounces of gold and 267 tonnes of antimony (43,663 ounces of gold equivalent) over the full quarter. Our site operating cashflow was $133 million for the quarter, resulting in a balance sheet with $246 million in cash, bullion and listed investments at quarter end. Our full year guidance of 160-175kozs gold equivalent remains unchanged.

Improvement quarter on quarter

Alkane said its second-quarter production was significantly higher than the first quarter due to improved output at its Tomingley mine and three full months of production from its Björkdal and Costerfield mines, as compared to only two months of production in the previous quarter, following the merger with Mandalay, which was completed in early August 2025.

The company said re the production results:

Alkane processed 683,235 tonnes of ore in total at an average gold grade of 2.20g/t Au producing 42,767oz of gold. Tomingley processed 318,851 tonnes of ore with an average gold grade of 2.50/t. At Costerfield, the average grade of gold was 10.44g/t and the average grade of antimony was 0.91% over 34,732 tonnes of ore processed while Björkdal processed 329,652 tonnes of ore with an average gold grade of 1.04g/t.

Alkane shares were 1.5% higher at $1.63 in early trade, not far off their 12-month highs of $1.64. The company's shares have more than tripled from lows of 51.5 cents over the past year.

Alkane was valued at $2.19 billion at the close of trade on Friday.

The post Which gold miner has just reported record production results? appeared first on The Motley Fool Australia.

And by 'it' I mean charging ahead of the benchmark.

Alkane Resources shares closed yesterday trading for $1.37. In morning trade on Friday, shares are changing hands for $1.47 apiece, up 7.3%.

For some context, the ASX 300 is up 0.2% at this same time.

Today's outperformance is par for the course for this high-flying ASX 300 gold stock.

One year ago, you could have bought Alkane Resources shares for 53 cents each. If you were to sell those shares at current levels, that would see you sitting on a gain of 177.4%. Or enough to turn a $10,000 investment into $27,736.

In 12 months.

Part of those impressive gains has been driven by the surging gold price. Gold is currently trading for US$4,476.55 per ounce, up 66.4% since this time last year.

And Alkane Resources certainly hasn't been sitting idle.

Here's what is stoking renewed investor interest today.

ASX 300 gold stock jumps on production update

The Alkane Resources share price is leaping higher once more today following the release of the gold miner's December quarterly production update (Q2 FY 2026).

The ASX 300 gold stock reported that it had produced 43,663 ounces of gold equivalent over the three months to 31 December. That brings its first half (H1 FY 2026) production to 80,070 ounces of gold equivalent.

Turning to the balance sheet, as at 31 December, Alkane held $218 million in cash, $14 million in listed investments and another $14 million in bullion, for a total of $246 million. That's up $15 million from the prior quarter's end, after the ASX 300 gold stock paid $11 million of FY 2025 income tax.

The company noted that it is debt free except for equipment finance of A$22 million.

Over the quarter, Alkane Resources sold 42,709 ounces of gold and 409 tonnes of antimony.

Management reaffirmed full-year FY 2026 guidance of 160,000 to 175,000 ounces of gold equivalent at an all-in sustaining cost (AISC) of A$2,600 – A$2,900 per gold equivalent ounce.

What did management say?

Commenting on the results helping lift the ASX 300 gold stock today, Alkane Resources managing director Nic Earner, said:

Alkane has had a solid quarter's production from our three operating mines which together produced 42,767 ounces of gold and 267 tonnes of antimony (43,663 ounces of gold equivalent) over the quarter.

Tomingley will pour its 750,000th ounce of gold during January 2026, a great testament to the team there. We have further strengthened our balance sheet over the quarter with A$246 million in cash, bullion and listed investments at quarter end.

The post Up 177% in a year, why is this ASX 300 gold stock leaping higher again on Friday? appeared first on The Motley Fool Australia.

Despite slipping today, the Alkane Resources share price remains up 124.5% since this time last year.

Today's 3.7% slide to $1.06 a share comes amid Friday's broader market sell down, which is hitting gold stocks particularly hard with the gold price also down overnight.

For some context, the ASX 300 is down 1.5% at the time of writing, while the S&P/ASX All Ordinaries Gold Index (ASX: XGD) is down a sharp 3.9%.

Alkane Resources shares, then, are modestly outperforming the All Ords Gold Index at the time of writing following the release of the miner's September quarter (Q1 FY 2026) results.

Here are the highlights.

ASX 300 gold stock reports post-merger results

Among the highlights of the quarter, Alkane completed its merger with Mandalay Resources Corporation in August.

The miner also officially became an ASX 300 gold stock on September 22, following its admission to the index as part of the S&P Dow Jones Indices quarterly rebalance.

With the Mandalay merger occurring during the quarter, the results reflect three months of financial and operating results from the company's Tomingley mine but only two months of results from its newly acquired Bjorkdal and Costerfield mines.

As for those results, Alkane Resources reported gold equivalent sales for the quarter of 30,010 ounces. The miner achieved an average gold price of $4,896 per ounce and reported an all-in sustaining cost (AISC) of $2,988 per gold equivalent ounce.

This saw revenue for the ASX 300 gold stock leap to $147.2 million, up 136% from Q1 FY 2025.

Management credited the big revenue boost to increased production and sales following the addition of the Costerfield and Bjorkdal gold mines, combined with the higher realised gold price.

Operating costs surged as well, coming in at $104.9 million for Q1 FY 2026, compared to $36.7 million in Q1 FY 2025. The increased costs were mainly driven by the combination with Mandalay.

On the bottom line, the consolidated net loss for the quarter was $2.7 million, down from an $11.3 million profit in the first quarter of FY 2025.

What did management say?

Commenting on the results for the ASX 300 gold stock, Alkane managing director Nic Earner said, "It has been a significant quarter with the merger with Mandalay completing in early August."

Earner added:

Alkane now has three operating mines who together produced 29,965 ounces of gold and 124 tonnes of antimony (30,511 ounces of gold equivalent) over the quarter.

With the repayment of $45 million bank debt and the one-off transaction costs of $25 million behind us we have a very solid balance sheet with $191 million in cash, bullion and listed investments at quarter end.

The post Up 125% in a year, guess which ASX 300 gold stock more than doubled its Q1 revenue appeared first on The Motley Fool Australia.

The S&P/ASX 200 Materials (ASX:XMJ) index has risen an impressive 20% since the start of the year. 

The team at Bell Potter have identified two that still offer plenty more upside. 

Nickel Industries Limited (ASX: NIC)

Nickel Industries is a producer of nickel pig iron, a key ingredient in stainless steel. It is also engaged in exploring, mining, acquiring, and developing nickel projects globally.

Unlike other ASX materials shares, it has actually lost ground in 2025. 

The stock price is down more than 10% since January and 18% in the last 12 months. 

However, Bell Potter has a buy recommendation and price target of $1.20 on this ASX materials stock.

Based on yesterday's close price of $0.75, that indicates an upside of 60%. 

In a report from the broker released on Tuesday, it reinforced patience is key on this global Nickel producer. 

It said the company continues to make money through low nickel prices, benefitting from its upstream and downstream operations, diversified risk and margin exposure across an integrated value chain.

NIC currently has good balance sheet flexibility and 2Mt of stockpiled ore awaiting sale, but the re-emergence of permitting risk in Indonesia will reinforce some views in the market that higher risk premia should be applied.

Alkane Resources (ASX: ALK)

Alkane Resources is a gold exploration and production company. It owns and operates an open pit and underground gold mining development, near Dubbo in central west New South Wales.

Like many ASX gold shares, it has seen its share price soar in 2025. 

This ASX materials stock is up an impressive 85% year to date. 

In a report issued yesterday, Bell Potter reiterated its buy recommendation with an updated price target of $1.40 (previously $1.45). 

From yesterday's close price of $0.98, this indicates an upside of 42.86%. 

The broker said the stock offers multi-mine gold and antimony exposure, a strong balance sheet and platform focussed on organic and inorganic growth options

Production is set to more than double yoy on a gold equivalent basis; EPS are forecast to more than double yoy and we forecast significant free cash flow growth.

The post These two ASX materials shares have 40-60% upside appeared first on The Motley Fool Australia.

Four ASX shares that are acting as a drag on the market today are listed below. Here's why they are ending the week in the red:

Alkane Resources Ltd (ASX: ALK)

The Alkane Resources share price is down 6% to $1.09. Investors have been selling this gold miner's shares after it released its quarterly update. Alkane Resources produced 36,407 ounces of gold equivalent for the three months ended 30 September. This reflects slower production at Bjorkdal over the Swedish extended summer vacation period. Given that this production is run-rating at approximately 145,000 ounces for the full year, investors appear concerned that it could fall short of its guidance for FY 2026. However, management has reaffirmed its guidance for 160,000 ounces to 175,000 ounces with an all-in sustaining cost (AISC) of A$2,600 to A$2,900 per ounce. Commenting on the quarter, the gold miner's managing director, Nic Earner, said: "It has been a significant quarter with the merger with Mandalay completing in early August. Alkane now has three operating mines who together produced 35,527 ounces of gold and 198 tonnes of antimony (36,407 ounces of gold equivalent) over the full quarter."

Beach Energy Ltd (ASX: BPT)

The Beach Energy share price is down 2.5% to $1.12. This follows a pullback in oil prices overnight. Traders were selling down oil after Israel and Hamas agreed to a ceasefire in Gaza. They may believe this peace deal lessens the risk of disruption to oil supplies in the region.

Electro Optic Systems Holdings Ltd (ASX: EOS)

The EOS share price is down 6% to $8.24. This decline is likely to be due to profit taking from some investors after the defence and space company's shares rocketed higher this year. For example, EOS shares are up over 500% year to date. This buying has been driven by the company reporting a number of major defence contract wins.

Northern Star Resources Ltd (ASX: NST)

The Northern Star share price is down 3% to $23.84. This has been driven by a pullback in the spot gold price overnight. Traders were selling the precious metal after the peace deal between Israel and Hamas led to improvements in risk sentiment, which has lowered demand for safe haven assets.

The post Why Alkane, Beach Energy, EOS, and Northern Star shares are dropping today appeared first on The Motley Fool Australia.

In morning trade, the ASX 300 gold stock is down 10% to $1.04.

Why is this ASX 300 gold stock sinking today?

There are a couple of reasons why this gold miner's shares are falling on Friday.

The first is a pullback in the gold price overnight, which saw the precious metal retreat below US$4,000 an ounce.

Traders were selling gold after risk sentiment improved following news that Israel and Hamas agreed to a ceasefire in Gaza.

This has led to the S&P/ASX All Ordinaries Gold index tumbling by a sizeable 4% at the time of writing.

What else?

Also weighing on the ASX 300 gold stock has been the release of a production update before the market open.

According to the release, Alkane Resources produced 36,407 ounces of gold equivalent over the period from 1 July to 30 September.

Management notes that this period included the expected slower production at Bjorkdal over the Swedish extended summer vacation period.

It seems that some investors were expecting a stronger performance and are fearful that this could mean the ASX 300 gold stock falls short of its guidance. Particularly given that 36,407 ounces is run-rating to approximately 145,000 ounces across FY 2026.

Whereas management continues to guide to FY 2026 group production of 160,000 ounces to 175,000 ounces with an all-in sustaining cost (AISC) of A$2,600 to A$2,900 per ounce.

At the end of the quarter, Alkane Resources had a cash, bullion and listed investment balance of A$191 million. This comprises cash of $160 million, bullion of $14 million, and listed investments of $17 million.

It is also worth noting that this is after the repayment of a A$45 million debt facility and one-off transaction costs of A$25 million from the merger with Mandalay Resources.

The gold miner's managing director, Nic Earner, was pleased with the "significant quarter." He said:

It has been a significant quarter with the merger with Mandalay completing in early August. Alkane now has three operating mines who together produced 35,527 ounces of gold and 198 tonnes of antimony (36,407 ounces of gold equivalent) over the full quarter. With the repayment of our A$45 million debt and the one-off transaction costs of A$25 million behind us we have a very solid balance sheet with A$191 million in cash, bullion and listed investments at quarter end.

Despite today's weakness, Alkane Resources shares are up 125% since this time last year.

The post Why is this ASX 300 gold stock sinking 10% today? appeared first on The Motley Fool Australia.

That's the view of the team at Bell Potter, which is feeling bullish about the ASX gold stock.

What is the broker saying about this ASX gold stock?

Bell Potter notes that Alkane Resources has now completed its merger with gold and antimony producer Mandalay Resources and provided guidance for the year ahead.

It is a fan of the merger and believes the ASX gold stock has transformed into a diversified, multi-mine gold producer. It said:

ALK now presents as a diversified, multi-mine gold producer with exposure to antimony – a critical mineral – and strong leverage to the gold price. It has a strengthened balance sheet, holding net cash of ~A$145m and a hedge book of ~60koz which has been diluted down to >20% of forecast production (from ~40% on Tomingley alone). FY26 group guidance is for 155-170koz gold and 800-900t antimony at All-In-Sustaining Costs (AISC) of A$2,600-A$2,900/oz.

And while its shares have re-rated since the completion of the merger, the broker doesn't believe it is too late to invest. It adds:

ALK has received a positive re-rating from the market since completion of the merger. This has, at least in part, realised one of the objectives of the transaction which was to create a company of greater relevance to investors with increased production scale and market capitalisation. It has also achieved inclusion in the ASX300 Index, effective September 22, 2025.

ALK is now a much stronger growth platform whether organic or inorganic. Beyond having greater value in its share price, its larger production base and greater gold price exposure should see its balance sheet strengthen more quickly than previously expected. We also see, for example, a lower cost of capital for the execution of the Tomingley Extension Project or the potential development of the North Molong Porphyry Project (NMPP). ALK is also in a stronger negotiating position for potential project partnerships or acquisitions.

Time to buy

The note reveals that Bell Potter has retained its buy rating on the ASX gold stock with an improved price target of $1.45.

Based on its current share price of $1.02, this implies potential upside of 42% for investors over the next 12 months.

Commenting on its buy recommendation, the broker said:

We transfer coverage and maintain our Buy recommendation on a slightly increased target price. Increased scale, margins, earnings and a higher gold price forecast are partially offset by the equity dilution of the merger and FY26 production guidance being slightly below our previous pro-forma estimates.

The post Why this ASX gold stock could be a strong buy with 40% upside appeared first on The Motley Fool Australia.

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:

Alkane Resources Ltd (ASX: ALK)

According to a note out of Bell Potter, its analysts have retained their buy rating on this gold miner's shares with an improved price target of $1.45. This follows the recent completion of its merger with Canadian gold and antimony producer, Mandalay Resources and the release of its FY 2026 production and cost guidance. Bell Potter is a fan of the merged entity, highlighting its strengthened balance sheet, holding net cash of ~$145 million and a hedge book of ~60koz, which has been diluted down to >20% of forecast production (from ~40% on Tomingley alone). Combined with a higher forecast gold price, the broker has boosted its valuation and recommends investors snap up its shares today. The Alkane Resources share price is trading at $1.02 on Wednesday.

Paladin Energy Ltd (ASX: PDN)

A note out of Citi reveals that its analysts have retained their buy rating on this uranium producer's shares with a reduced price target of $9.00. This follows news that the company is undertaking a $300 million capital raising at an 8% discount of $7.25 per new share. Proceeds from the capital raising will primarily be used to advance the development of the Patterson Lake South towards a final investment decision. While Citi has trimmed its earnings estimates and valuation to reflect dilutions from the capital raising, it remains positive on Paladin Energy. Particularly given how the Langer Heinrich operation is performing ahead of expectations so far this quarter. The Paladin Energy share price is fetching $7.63 at the time of writing.

Super Retail Group Ltd (ASX: SUL)

Another note out of Citi reveals that its analysts have retained their buy rating and $20.50 price target on this retail conglomerate's shares. This follows news that the Rebel and Supercheap Auto owner's CEO, Anthony Heraghty, has had his employment terminated after it received new information regarding his relationship with the company's former chief human resources officer. While Citi acknowledges that the loss of a highly regarded CEO is a blow and creates uncertainty, it is comfortable in its interim leadership, which sees long-serving CFO, David Burns, step up to the top job. The Super Retail share price is trading at $16.87 this afternoon.

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

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

Alkane Resources Ltd (ASX: ALK)

The Alkane Resources share price is down 7.5% to 48.5 cents. Investors have been selling this gold miner's shares following the release of its quarterly update. Alkane Resources reported gold production of 14,852 ounces for the quarter. This was below its forecast for the three months, which appears to have disappointed the market. Nevertheless, management has held firm with its full year guidance of 70,000 ounces to 80,000 ounces at an AISC of A$2,400 per ounce to $2,600 per ounce. Gold sales were 16,576 ounces, generating revenue of $59.4 million at an average price of A$3,582 per ounce.

Myer Holdings Ltd (ASX: MYR)

The Myer share price is down almost 19% to 93.2 cents. This follows the release of a trading update from the department store operator this morning. For the 22 weeks ended 28 December, group comparable sales were in line with the prior corresponding period, but total sales were down 0.8% to approximately $1,592 million. Things were much worse for its earnings, with EBIT down approximately 25% to $48 million. Investors may have fears that this poor performance could impact its upcoming merger vote.

Premier Investments Ltd (ASX: PMV)

The Premier Investments share price is down over 15% to $27.96. This has also been driven by the release of a trading update today. The Smiggle and Peter Alexander owner expects first half underlying Retail EBIT to be in the range of $160 million to $165 million. This represents a sizeable 21.3% to 23.7% decline year on year. Premier Investments is looking to merge its Apparel Brands business with Myer later this month, but these updates appear to cast doubts on the move.

St Barbara Ltd (ASX: SBM)

The St Barbara share price is down 9% to 25.5 cents. This morning, this gold miner released a preliminary second quarter update. Gold production for the quarter totalled 10,262 ounces, which was lower than expected. And while there was no update on its costs, management warned that they will be high because of the lower ounces produced. Looking ahead, it said: "Production guidance of 65,000 to 75,000 ounces is not changed. However, after the lower than anticipated production in Q2, the outlook is now at the lower end of the range compared to mid-range expectations at the outset of the December quarter."

The post Why Alkane, Myer, Premier Investments, and St Barbara shares are sinking today appeared first on The Motley Fool Australia.

That's the view of analysts at Bell Potter, which believe the gold miner's shares could be destined to more than double in value from current levels.

Which ASX gold stock?

The gold miner in question is Alkane Resources Limited (ASX: ALK). It has aspirations to grow to become one of Australia's multi-mine gold and copper producers.

At present, Alkane Resources' gold production is from the Tomingley Gold Operations in Central West New South Wales. It has been operating since 2014 and has the resources to continue to operate beyond 2030.

It also controls several highly prospective gold and copper tenements. The most advanced exploration projects are in the tenement area between Tomingley and Peak Hill, which has the potential to provide additional ore for its current operations.

What is the broker saying?

Bell Potter notes that the ASX gold stock released its full year results this week. And while its profits were short of expectations, it has seen enough to remain positive. Commenting on its results and guidance, the broker said:

Revenue was $173m, from gold sales of 57.6koz (down from 70.2koz in FY23) and an average gold price of $3,004/oz. Underlying EBITDA was $59.8m (vs BPe $60.2m). NPAT: $17.6m (vs BPe $28m). NPAT was weaker than our forecast, on increased depreciation and tax. Depreciation ($35m) was $5m greater than BPe, and Tax ($7m) was $3m greater than BPe.

FY25 guidance is 70koz-80koz at $2,400/oz-$2,600/oz All-in-Sustaining-Costs (AISC). Production is a 30% increase on FY24. AISC is a 17% increase on FY24 as Roswell Underground Mine development is advanced. FY26/FY27 guidance is 90koz/105koz at $1,900/$2000 per oz, as the Tomingley Gold Expansion is completed.

In light of the above, Bell Potter has held firm with its buy rating and $1.10 price target on the ASX gold stock. Based on its current share price of 40.5 cents, this implies potential upside of 170% for investors over the next 12 months.

Bell Potter believes that its shares are seriously undervalued by the market. It concludes:

We maintain our Target Price and our recommendation, in accordance with our ratings structure. In our view ALK is undervalued relative to the expanded Tomingley Gold Project, which we forecast will produce around 100kozpa of gold between FY26 and FY32, without significant additional discovery. In addition to the operating Tomingley Gold Project, ALK is working towards the development / monetisation of the Northern Molong Porphyry Project, where it has already defined Resources of 14.7Moz AuEq.

The post Why this ASX gold stock could more than double in value appeared first on The Motley Fool Australia.

Gold Road Resources Ltd (ASX: GOR), Ramelius Resources Ltd (ASX: RMS), and Alkane Resources Ltd (ASX: ALK) all reported mixed earnings today.

Gold Road reported its H1 2024 numbers, whereas the other two players reported their FY24 full-year earnings.

Whilst the reporting periods are different, the outcomes were each the same on Monday – all in the red.

Let's see what these companies posted.

ASX gold shares dip on earnings

Gold Road Resources shares finished 4.40% lower on the day at $1.74 apiece after reporting a challenging first half of 2024.

The company was impacted by a "protracted regional rain event" that led to a seven-week closure of the main access at its Gruyere site. This reduced production and lowered sales.

Revenue fell from $229 million last year down to $211 million as a result.

Gold sales also declined sharply, with the company selling 63,542 ounces, a significant decrease from 80,115 ounces in June 2023.

This reduction in production resulted in a drop in net profit, which was $43.1 million, down 25% from the previous year.

Additionally, Gold Road announced a reduction in its dividend to 0.5 cents per share, down from 1.2 cents previously.

Despite these challenges, CEO Duncan Gibbs expressed confidence that production would ramp up in the second half of 2024. This could impact the ASX gold share.

Ramelius Resources falls despite record profit

Ramelius Resources' share price also declined on Monday, falling 1.44% to $2.06 despite posting record net profit figures in its FY24 results.

The company reported a net profit of $216 million, a 252% increase from the previous year.

Growth was driven by gold sales of 293,966 ounces, achieved at an all-in-sustaining cost (AISC) of $1,583 per ounce.

The company's pre-tax earnings also increased by 76% year over year, reaching $451.3 million.

Unlike its counterpart above, Ramelius announced an increase in its dividend to 5 cents per share, which is 150% higher than the previous year.

Profit gains haven't translated into gains in market value today, with pressures in the broader gold sector weighing on the ASX gold share.

Alkane Resources slips as production declines

Alkane Resources shares finished down 4.76% to 40 cents apiece on Monday after reporting a decrease in gold production and revenue in its FY24 numbers.

For the year, gold revenues were down 9%, whereas gold production decreased by 19% compared to FY23.

The ASX gold share produced 57.2 million tonnes for the year and sold 57.6 ounces at an average sales price of $3,004 per ounce.

The AISC to produce this gold also came to $2,137 per ounce, delivering Alkane a net profit of $17.7 million.

At the end of the year, it reported a total of $54.5 million in cash and bullion.

However, the lower production levels and higher costs did not please investors, and the ASX gold share finished in the red today.

ASX gold shares snapshot

The 3 earnings results posted by these ASX gold shares on Monday produced mixed results in the market.

The post These 3 ASX gold shares are down sharply on FY24 results appeared first on The Motley Fool Australia.

Well, I have good news for you. That's because one leading broker is tipping one ASX gold stock to double in value from current levels.

Which ASX gold stock?

Analysts at Bell Potter believe that Alkane Resources Limited (ASX: ALK) is a gold stock to buy right now.

The broker highlights that the gold miner has just released the scoping study for the Boda-Kaisar Project in New South Wales.

While a touch softer than its expectations, the broker sees the study results as "a good outcome." It said:

Principal differences to BPe include: (1) average grade is 0.46g/t AuEq vs BPe 0.57g/t AuEq (driven by processing of low-grade stockpiles, excluding stockpiles average Study grade is 0.53g/t AuEq, much closer to BPe), (2) mining duration in the Study is 13-years, vs BPe 20-years, as the Study largely excludes the Underground Resource (374Mt at 0.59g/t AuEq), (3) Study initial capital costs are A$1,783m (including A$250m of growth and contingency) vs BPe A$1,500m, and (4) due to the previous points, $1,120m Post-tax NPV (adjusted for tax by BP) is less than BPe $1,500m.

Bell Potter agrees with management that Boda-Kaiser can support a large gold mining operation thanks to strong commodity prices. It adds:

We agree with management that the Study shows that at current copper and gold prices, Boda-Kaiser can support a large operation with strong economic returns in highly attractive commodities with strong fundamentals over the long-term.

Big returns

In response to the study, Bell Potter has retained its buy rating and $1.10 price target on the ASX gold stock. Based on its current share price of 51.5 cents, this implies potential upside of 113% for investors over the next 12 months.

Bell Potter then concludes by explaining why it thinks its shares could re-rate to higher multiples in the future. It said:

In ALK's forward plan we can see steps to increase market value recognition for Boda / Kaiser, including: (1) feasibility studies to include Underground Resources in the Project using mass mining methods (Sub-level Caving), to prolong the duration of higher-grade plant feed over the current 13-year mining period, (2) exploration to discover additional open pit deposits would also enable a longer duration of higher-grade plant feed, (3) securing a high-calibre partner could promote market value recognition of Boda / Kaiser, given the Projects large capital cost relative to ALK's market capitalisation, and Tomingley's ability to generate free cash.

The post Meet the ASX gold stock that could double in value appeared first on The Motley Fool Australia.

That helped the All Ords post a gain of 1.2% for the first week of trading in 2023.

Investors will certainly welcome this start to the new year after All Ordinaries shares dropped 7.2% in 2022. Though it may be too early to hope for a return to 2021 levels, when the index gained 13.6% over the calendar year.

While the 1.2% gains represent a solid start to 2023, these three All Ordinaries shares delivered far more in the first week.

As you'll note below, all three of the top performers this past week suffered heavy losses in 2022. With them now leading the charge in the new year, investors look to be doing some bargain hunting.

Top 3 All Ordinaries share gainers this week

The third-best performer in the first week of trade was gold miner Alkane Resources Ltd (ASX: ALK).

Alkane has a market cap of $383 million.

Like the other top-performing All Ordinaries shares covered in this article, the Alkane share price fell heavily in 2022, down 41%.

Unlike the other two stocks, Alkane did release positive price-sensitive news this week. The Alkane share price closed up 11% on Thursday after the company upgraded its FY2023 production guidance at its Tomingley Gold Operations in New South Wales.

This helped Alkane deliver a 24% gain in the first week of trading in 2023, finishing the week at 67 cents per share.

The number two spot goes to diagnostic imaging company Cyclopharm Ltd (ASX: CYC).

Cyclopharm has a market cap of $125 million.

The All Ordinaries healthcare share tumbled 29% in 2022 but is certainly off to a better start this year. Cyclopharm closed the week up 25% at $1.46 per share.

Which bring us to the best All Ordinaries share performer in the first week of 2023, financial services company Harmoney Corp Ltd (ASX: HMY).

Harmoney has a market cap of $58.4 million.

The stock lost a painful 76% in 2022 but staged a strong rally to kick off 2023, gaining 30% in the first week of trade. Harmoney closed the week trading for 57 cents per share.

The post Can you guess the top 3 performing All Ordinaries shares in the first week of trade? appeared first on The Motley Fool Australia.

Four ASX shares that are climbing more than most today are listed below. Here's why they are rising:

Alkane Resources Limited (ASX: ALK)

The Alkane Resources share price is up 12% to 64.5 cents. This morning, the gold miner upgraded its FY 2023 guidance for the Tomingley Gold Operation. Alkane now expects production of 62,000 ounces to 70,000 ounces. This is up from its previous guidance range of 55,000 to 60,000 ounces. In addition, it has revised its cost guidance lower for the year.

Appen Ltd (ASX: APX)

The Appen share price is up a further 3% to $2.67. This artificial intelligence data services company's shares have been given a boost from a broker note out of Jefferies this week. Its analysts believe Appen will deliver revenue of US$393 million in FY 2022, which is at the top end of its guidance range.

Warrego Energy Ltd (ASX: WGO)

The Warrego Energy share price is up 9% to 37.5 cents. This follows news that Gina Rinehart's Hancock Energy has increased its takeover offer for the energy explorer. Hancock has lifted its offer by 28.6% to 36 cents per share. With its shares trading higher than this, investors appear to be betting that a competing offer will be made.

Zip Co Ltd (ASX: ZIP)

The Zip share price is up 8% to 60 cents. This is despite there being no news out of the buy now pay later (BNPL) provider today. Though, it is worth noting that a number of BNPL shares are rising today following a strong night of trade for Wall Street listed Affirm. Investors may believe the industry was oversold in 2022.

The post Why Alkane, Appen, Warrego Energy, and Zip shares are racing higher today appeared first on The Motley Fool Australia.