Brokers cut their ratings on several ASX All Ords shares this week.

Let's take a look.

Sims Ltd (ASX: SGM)

The Sims share price is $24.53, down 3.2% today.

Over the past month, this ASX materials share has fallen 7%.

Morgan Stanley downgraded Sims shares to a sell rating on Monday.

The broker cut its 12-month price target from $24 to $22.

This implies a potential 10% downside ahead.

Elders Ltd (ASX: ELD)

The Elders share price is $6.37, up 1.8% today.

Over the past month, this ASX consumer staples share has increased 13%.

Bell Potter downgraded Elders shares to a hold rating yesterday.

The broker raised its 12-month price target from $6.45 to $6.70.

This suggest a potential 5% upside ahead.

The broker said:

Following the recent recovery in the share price we are moving our rating from Buy to Hold.

Investments in Delta and SYSMOD are the largest drivers of near term growth, however, we see the large livestock tailwinds the agency business has benefited from the past two years facing more difficult comparisons moving forward.

We are cognisant cattle prices no longer carry the value arbitrage they once did to US90CL indicators, trading at a premium for the first time since early CY23.

Charter Hall Retail REIT (ASX: CQR)

The Charter Hall Retail REIT share price is $3.68, down 1.3% today.

Over the past month, this real estate investment trust (REIT) has fallen 13%.

UBS downgraded Charter Hall Retail REIT shares to a hold rating on Wednesday.

The broker lowered its 12-month price target from $4.65 to $4.20.

This implies a potential 14% upside ahead.

Dyno Nobel Ltd (ASX: DNL)

The Dyno Nobel share price is $3.92, down 2.4% today.

Over the past month, this ASX materials share has risen 0.4%.

Jarden downgraded Dyno Nobel shares to a hold rating this week.

The broker has a 12-month price target of $3.80.

This indicates a potential 3% downside over the next year. 

Tabcorp Holdings Ltd (ASX: TAH)

The Tabcorp share price is 92 cents, down 3.2% today.

Over the past month, this ASX consumer discretionary share has risen 1.1%.

Morgans downgraded Tabcorp shares from buy to accumulate.

The broker has a 12-month price target of $1.02.

This suggests a potential 14% upside ahead.

Morgans said:

We gained encouragement from TAH's FY26 result, with the company responding to a modest growth environment (+1%) with disciplined cost control, while softer D&A helped underlying NPAT come in +6% ahead of market expectations and broadly in line with our estimates.

Other highlights for us included strong customer retention following the introduction of the new retail commercial model, the rollout of next-generation terminals, and a strong sports performance through the FIFA World Cup. 

EchoIQ Ltd (ASX: EIQ)

The EchoIQ share price is 50 cents, down 12% today.

Over the past month, this ASX tech share has crashed 68%.

Bell Potter downgraded EchoIQ shares from speculative hold to speculative sell this week.

The broker slashed its 12-month price target from $1.75 to 30 cents.

This suggests potential further downside of 40% over the next year. 

The post 6 ASX shares downgraded by brokers this week appeared first on The Motley Fool Australia.

By the time trading closed, the index had dropped 0.11% to close at 8,911.4 points.

This miserly session for the local markets came after a horrid return to trading for the US markets following the American long weekend.

The Dow Jones Industrial Average Index (DJX: .DJI) clearly didn't get a proper holiday, dropping 1.18% last night.

Meanwhile, the tech-heavy Nasdaq Composite Index (NASDAQ: .IXIC) did better, but still lost 0.32%.

But let's get back to ASX shares now and examine how today's tough trading conditions affected the various ASX sectors.

Winners and losers

Most of the ASX's sectors were dragged lower this Wednesday. But there were a few exceptions.

First though, it was, somewhat ironically, healthcare shares that had the unhealthiest day. The S&P/ASX 200 Healthcare Index (ASX: XHJ) had tanked 1.5% by the close of trading.

Consumer discretionary stocks also had a shocker, with the S&P/ASX 200 Consumer Discretionary Index (ASX: XDJ) plunging 1.14%.

Gold shares were no safe haven either. The All Ordinaries Gold Index (ASX: XGD) cratered 1.06% today.

Communications stocks suffered a steep drop too, as you can see from the S&P/ASX 200 Communication Services Index (ASX: XTJ)'s 1.04% dive.

Financial shares were right in front of communications. The S&P/ASX 200 Financials Index (ASX: XFJ) sank 1.02%.

Next came consumer staples stocks, with the S&P/ASX 200 Consumer Staples Index (ASX: XSJ) retreating 0.9%.

Tech shares had a day to forget as well. The S&P/ASX 200 Information Technology Index (ASX: XIJ) saw its value cut by 0.71%.

Real estate investment trusts (REITs) weren't granted an exception either, evidenced by the S&P/ASX 200 A-REIT Index (ASX: XPJ)'s 0.57% dip.

But that's it for the red sectors, so let's get to the winners.

Leading said winners were energy stocks. The S&P/ASX 200 Energy Index (ASX: XEJ) roared higher today, surging 1.73%.

Mining shares also ran hot, with the S&P/ASX 200 Materials Index (ASX: XMJ) soaring 1.51%.

Utilities stocks were in demand as well. The S&P/ASX 200 Utilities Index (ASX: XUJ) lifted 1.01% today.

Finally, industrial shares got out unscathed, illustrated by the S&P/ASX 200 Industrials Index (ASX: XNJ)'s 0.06% bounce.

Top 10 ASX 200 shares countdown

Gold stock Minerals 260 Ltd (ASX: MI6) was our chart-topper this hump day. Minerals 260 shares exploded 10.37% higher this session to finish at 90.5 cents apiece.

This big move came despite no fresh news or announcements from the company.

Here's how the other top stocks landed their planes today:

Our top 10 shares countdown is a recurring end-of-day summary that shows which companies made big moves on the day. Check in at Fool.com.au after the weekday market closes to see which stocks make the countdown.

The post Here are the top 10 ASX 200 shares today appeared first on The Motley Fool Australia.

A small group of ASX shares have ex-dividend dates this month.

In order to receive a dividend, you must own the ASX share before its ex-dividend date.

So, if you're looking for some extra income before the end of the financial year (EOFY), these ASX shares provide options.

Ex-dividend dates also provide another opportunity.

Share prices usually fall on ex-dividend dates, so you may be able to pick up a stock you've been watching for a lower price.

Among the shares going ex-dividend this month are ASX agriculture stock Select Harvests Ltd (ASX: SHV).

The almond producer will trade ex-dividend on 17 June and pay investors 3.5 cents per share on 15 July.

Bell Potter has a buy rating on Select Harvests shares with a 12-month price target of $5.30, compared with $3.86 currently.

ASX 200 iron ore share Champion Iron Ltd (ASX: CIA) has an ex-dividend date of 11 June and will pay 2 cents per share on 8 July.

RBC Capital has a buy rating on Champion Iron with an $8.11 target, compared to $4.30 per share today.

Several of Wilson Asset Management's listed investment companies (LICs) will also go ex-dividend this month.

These include WCM Global Growth Ltd (ASX: WQG), which will trade ex-dividend on 10 June.

WCM Global Growth investors will receive a dividend of 2.2 cents per share on 30 June.

ASX shares with ex-dividend dates in June

The post 15 ASX shares going ex-dividend before EOFY appeared first on The Motley Fool Australia.

Dyno Nobel is a leading global manufacturer of explosives, as well as a producer of fertilisers and industrial chemicals. It's estimated the company's share of the international commercial explosives market is around 15%.

The company rocketed 10% on Monday following the release of its half-year results. 

What did the company report?

As Laura Stewart reported on Monday, Dyno Nobel reaffirmed its full-year earnings guidance. 

This reinforced strong underlying growth in its global explosives business and a sharp lift in first-half earnings.

The company also reported: 

• Statutory net profit after tax (NPAT): $20 million (1H25: $7 million)
• NPAT excluding individually material items (IMIs): $161 million, up 83% (1H25: $88 million)
• EBIT excluding IMIs: $243 million, up 39% (1H25: $174 million)
• EBITDA excluding IMIs: $378 million, up 17% (1H25: $323 million)
• Interim dividend: 4.6 cents per share (unfranked), 50% payout ratio. 

Commenting on the results, CEO and Managing Director Mauro Neves said:

1H26 marks the beginning of a new era for Dyno Nobel as we concluded our separation from the Fertilisers business and move forward as a pureplay global explosives leader. We continued the successful execution of our transformation program, and our explosives business delivered robust underlying earnings growth, driven by the strong operating performance of our privileged assets.

What did Morgans have to say?

Following the result, the team at Morgans said the 1H26 result from this ASX stock was materially stronger than expected. 

After a stronger than expected 1H26, DNL would have upgraded its FY26 Explosives guidance had it not been for a stronger AUD, cost headwinds given the conflict in the Middle East and stranded costs post the sale of Phosphate Hill. 

We have made material revisions to our FY26 forecasts reflecting the sale of Phosphate Hill for a poor price. Moving forward, DNL is now a pure play explosives company. We have made modest upgrades to FY27/28. 

Limited upside for this ASX 200 stock

Following Monday's 10% gain, it appears this ASX 200 stock is now hovering close to fair value. 

Following the results, Morgans maintained a hold rating, along with a new price target of $3.46.

From yesterday's closing price of $3.53, this indicates the ASX 200 stock is roughly 2% above fair value. 

Elsewhere, 10 analysts forecasts via TradingView have a maximum estimate of $4.00 per share, and a minimum of $3.30. 

The post Is this ASX 200 stock a buy, hold or sell after impressive earnings results? appeared first on The Motley Fool Australia.

The ASX 200 spent today's entire session in red territory and ended up closing down 0.49%. That leaves the index at 8,701.8 points.

This rough start to trading this week for Australian investors comes after a more positive end to the American week on Friday night (our time).

The Dow Jones Industrial Average Index (DJX: .DJI) barely broke even, inching just 0.025% higher.

The tech-heavy Nasdaq Composite Index (NASDAQ: .IXIC) was far more confident, though, rising a happy 1.71%.

But let's get back to this week and the local markets now for a look at what was happening with the different ASX sectors today.

Winners and losers

The post Here are the top 10 ASX 200 shares today appeared first on The Motley Fool Australia.

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

Dyno Nobel Ltd (ASX: DNL)

The Dyno Nobel share price is up 10% to $3.66. Investors have been buying the explosives manufacturer's shares following the release of a strong half-year result. The company revealed that net profit after tax excluding individually material items increased 83.3% to $160.9 million. This allowed the Dyno Nobel board to increase its interim dividend by 91.7% to 4.6 cents per share. Commenting on the result, the company's CEO, Mauro Neves, said: "1H26 marks the beginning of a new era for Dyno Nobel as we concluded our separation from the Fertilisers business and move forward as a pureplay global explosives leader."

Inghams Group Ltd (ASX: ING)

The Inghams share price is up 5% to $1.78. This follows the release of a trading update from the poultry producer which revealed that volumes were up 1.1% for the first nine months of FY 2026. As a result, management has reaffirmed its guidance for underlying EBITDA of $180 million to $200 million. Inghams' CEO and managing director, Ed Alexander, said: "We are seeing improved operational performance and positive momentum from initiatives already delivered, while reaffirming our FY26 guidance in a challenging environment."

Metcash Ltd (ASX: MTS)

The Metcash share price is up 6% to $2.90. This is in response to the release of a trading update from the wholesale distributor this morning. Metcash revealed that it expects to report revenue growth of 0.7% for FY 2026 with underlying net profit after tax in the region of $268 million to $270 million. Looking ahead, management advised that its ongoing cost initiatives are targeting at least ~$25 million in annualised savings in FY 2027. Metcash's CEO, Doug Jones, said: "We have delivered a solid result supported by the resilience of our Food and Liquor businesses, our diversified portfolio and disciplined execution."

Strike Energy Ltd (ASX: STX)

The Strike Energy share price is up 4.5% to 11.5 cents. This morning, the energy company announced the exit of its CEO, Peter Stokes. He will be replaced by Shelley Robertson, effective 1 June. The release notes that Ms Robertson is a highly respected and influential leader in the Australian resource and energy sector. She was previously the chief operating officer at Fortescue Ltd (ASX: FMG).

The post Why Dyno Nobel, Inghams, Metcash, and Strike Energy shares are charging higher today appeared first on The Motley Fool Australia.

In morning trade, the ASX 200 share is up 8% to $3.60.

Why is this ASX 200 share jumping?

Investors have been buying the company's shares on Monday after it released its half-year results and revealed strong growth from continuing operations.

According to the release, group revenue fell 15.7% on the prior corresponding period to $1.9 billion.

However, this was largely due to the separation of the Fertilisers business. On a continuing operations basis, the explosives business delivered revenue of $1.6 billion, which was up 11.4% on the prior corresponding period.

That growth was driven by strength in the company's core regional businesses.

Dyno Nobel Asia Pacific delivered a 9% lift in revenue to $599.3 million, supported by strong demand in metals, growth from new contracts, and expansion in Malaysia and Indonesia.

But Dyno Nobel Americas was the standout. It posted a 17% increase in revenue to $891.3 million. This reflected strong demand across coal, quarry and construction, and metals markets, as well as profitable trading of surplus ammonium nitrate.

Dyno Nobel EMEA and LATAM revenue fell 8% to $144.5 million. This reflects foreign exchange headwinds.

The company's group EBIT (excluding individually material items) rose 39.3% to $242.7 million, while EBITDA excluding individually material items increased 17.2% to $378 million.

On the bottom line, net profit after tax excluding individually material items increased 83.3% to $160.9 million. However, statutory net profit after tax was only $19.9 million. This is due to the impact of $141 million of after-tax individually material items, mainly relating to impairment and site exit costs from the sale of Phosphate Hill.

In light of its strong performance, the Dyno Nobel board declared an unfranked interim dividend of 4.6 cents per share, up 91.7%  on the prior corresponding period and representing a 50% payout ratio.

Management commentary

Commenting on the result, the ASX 200 share's CEO, Mauro Neves, said:

1H26 marks the beginning of a new era for Dyno Nobel as we concluded our separation from the Fertilisers business and move forward as a pureplay global explosives leader. We continued the successful execution of our transformation program, and our explosives business delivered robust underlying earnings growth, driven by the strong operating performance of our privileged assets.

Outlook

Dyno Nobel reaffirmed its FY 2026 EBIT guidance for its explosives business of $460 million to $500 million. Neves said:

Highlighting the resilience of our business in the volatile global landscape, I am pleased to report we remain on track to deliver both our FY26 EBIT guidance of $460m – $500m and our FY28 EBIT ambition of $600m as our transformation program continues to yield results.

Looking ahead, our gas backed manufacturing facilities, high vertical integration and consistent earnings growth with low volatility position Dyno Nobel as an increasingly compelling investment proposition.

The post Explosive ASX 200 share jumps 8% on first-half profit surge appeared first on The Motley Fool Australia.

What did Dyno Nobel report?

• Statutory net profit after tax (NPAT): $20 million (1H25: $7 million)
• NPAT excluding individually material items (IMIs): $161 million, up 83% (1H25: $88 million)
• EBIT excluding IMIs: $243 million, up 39% (1H25: $174 million)
• EBITDA excluding IMIs: $378 million, up 17% (1H25: $323 million)
• Interim dividend: 4.6 cents per share (unfranked), 50% payout ratio
• Return on Invested Capital: 9.5% (1H25: 6.1%)

What else do investors need to know?

Dyno Nobel completed the strategic separation of its Fertilisers business during the first half, signing a binding agreement for the sale of the Phosphate Hill facility. This move positions the company clearly as a standalone explosives business, aligning with its long-term growth and sustainability strategy.

In terms of capital management, $558 million of the $900 million on-market share buyback program has been completed, and the buyback is set to resume following the trading blackout ending. The company also reported improved financial metrics, including stronger interest cover (12.5x) and a net debt to EBITDA ratio of 1.3x, comfortably within policy limits.

What did Dyno Nobel management say?

CEO and Managing Director Mauro Neves commented:

"1H26 marks the beginning of a new era for Dyno Nobel as we concluded our separation from the Fertilisers business and move forward as a pureplay global explosives leader. We continued the successful execution of our transformation program, and our explosives business delivered robust underlying earnings growth, driven by the strong operating performance of our privileged assets.

Safety always remains our number one priority, and while I'm disappointed to record an increase in our total recordable injury frequency rate, no incidents were classified as serious harm and we saw an overall reduction in injury severity. We will continue our focus on field leadership and proactive hazard identification, with targeted explosives risk reviews at our key manufacturing facilities.

Highlighting the resilience of our business in the volatile global landscape, I am pleased to report we remain on track to deliver both our FY26 EBIT guidance of $460m – $500m and our FY28 EBIT ambition of $600m as our transformation program continues to yield results.

Looking ahead, our gas backed manufacturing facilities, high vertical integration and consistent earnings growth with low volatility position Dyno Nobel as an increasingly compelling investment proposition."

What's next for Dyno Nobel?

Dyno Nobel has reaffirmed its FY26 EBIT guidance for the explosives business at $460 million to $500 million, with its transformation program progressing as planned. The group now expects lower capital expenditure in the $250 million to $300 million range for FY26, as some growth investment shifts into FY27.

The successful sale of the Fertilisers business reduces operational and environmental commitments, reinforcing Dyno Nobel's focus on global explosives and blasting services. Management expects to benefit from stable, vertically integrated operations and continued momentum from its transformation program.

Dyno Nobel share price snapshot

Over the past 12 months, Dyno Nobel shares have risen 27%, outperforming the S&P/ASX 200 Index (ASX: XJO) which has risen 6% over the same period.

View Original Announcement

The post Dyno Nobel posts higher earnings as explosives transformation accelerates appeared first on The Motley Fool Australia.

The US and Iran have launched missile strikes against each other in the Strait of Hormuz as the US tries to restore shipping.

Renewed military action after four weeks of ceasefire has sent oil prices higher, with no end in sight for the war in Iran.

Meanwhile, the Reserve Bank has just announced a third consecutive interest rate rise, taking the cash rate to 4.35%.

Among the 11 market sectors today, energy is in the lead, up 1.3%, while materials is the laggard, down 0.9% today.

Meanwhile, three experts give us their views on three ASX 200 shares.

Let's check them out.

Mineral Resources Ltd (ASX: MIN)

The Mineral Resources share price is $66.76, down 0.3% today and up 50% over six months.

Morgans maintained an accumulate rating on the diversified miner after reviewing its 3Q FY26 report.

The broker also increased its price target from $68 to $71.

Morgans said:

Strong 3Q26 beat against expectations led by Onslow and lithium. FY26 guidance upgraded marginally across Mining Services, Onslow, Wodgina and Mt Marion.

Diesel headwinds are emerging but remain contained.

No supply risk currently but cost inflation is apparent. Compelling outlook supported by continued deleveraging and commodity prices.

Iluka Resources Ltd (ASX: ILU)

The Iluka Resources share price is $8.10, down 2.2% today and up 30% over six months.

On The Bull this week, Michael Gable from Fairmont Equities revealed a hold rating on the mineral sands producer.

Gable explained:

ILU has traditionally been a producer of mineral sands. It's expanding into rare earths and is expected to start processing material in 2027.

The market is also starting to take notice, and positioning into this company.

It mostly traded sideways between November 2025 and March 2026, with a major resistance level near $7. It broke above the resistance line in April, leaving buyers back in control.

We expect the share price to move higher from here.

Dyno Nobel Ltd (ASX: DNL)

The Dyno Nobel share price is $3.29, down 1.1% today and up 3% over six months.

Dyno Nobel is an industrial explosives manufacturer operating mainly in the mining and construction industries.

It was formerly the explosives arm of Incitec Pivot, an Australian chemicals group that combined fertiliser and explosives operations.

Over recent years, the group has been moving away from fertilisers to refocus on explosives services, predominantly in the mining sector.

On The Bull, Toby Grimm from Baker Young put a sell rating on Dyno Nobel shares.

Grimm explained:

Strategic execution remains a persistent concern, in our view. Dyno Nobel's recent decision to exit fertiliser production, amid finalising the sale of its Phosphate Hill asset at a recent time of elevated fertiliser prices, highlight ongoing timing challenges.

According to our analysis, the divestment materially reduces earnings expectations and leaves the business more exposed to rising gas costs, which are likely to pressure margins within its explosives segment.

Given these risks, we see more attractive opportunities elsewhere.

The post Buy, hold, sell: Mineral Resources, Dyno Nobel, Iluka Resources shares 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 dropping:

Catapult Sports Ltd (ASX: CAT)

The Catapult Sports share price is down 11% to $3.53. Investors have been selling this sports technology company's shares after it was kicked out of the ASX 200 index at the quarterly rebalance. Also leaving the benchmark index are DigiCo Infrastructure REIT (ASX: DGT) and EBOS Group Ltd (ASX: EBO). They will be replaced by gold miner Predictive Discovery Ltd (ASX: PDI), engineering services company SRG Global Ltd (ASX: SRG), and lithium developer Vulcan Energy Resources Ltd (ASX: VUL).

Commonwealth Bank of Australia (ASX: CBA)

The CBA share price is down 4% to $165.50. This banking giant and the rest of the big four banks have been caught up in the market selloff on Monday. It is possible that investors are concerned that the spike in oil prices could cause inflation to jump. This could force the Reserve Bank of Australia to increase interest rates higher than expected, which would put pressure on mortgage holders.

Dyno Nobel Ltd (ASX: DNL)

The Dyno Nobel share price is down over 11% to $3.00. This morning, this explosives company announced a binding agreement for the sale of Phosphate Hill to a subsidiary of Mayfair Australia Corporation for just a single dollar. However, up to $100 million will be payable to Dyno Nobel subject to certain conditions and meeting certain performance hurdles. Dyno Nobel's CEO, Mauro Neves, said: "The sale of Phosphate Hill to Mayfair is an important milestone that concludes our separation from the Fertilisers business. This transaction delivers the certainty that we have been working towards and allows us to fully focus on our future as a global explosives leader."

Qantas Airways Ltd (ASX: QAN)

The Qantas Airways share price is down 5.8% to $8.40. Investors have been selling the airline operator's shares on Monday in response to surging oil prices. Given that fuel is the company's largest operating expense, a significant rise could have a major impact on its profits in the near term. So much so, if things remain the same way, it is quite likely that analysts will start downgrading their earnings estimates for Qantas.

The post Why Catapult Sports, CBA, Dyno Nobel, and Qantas shares are sinking today appeared first on The Motley Fool Australia.

At the time of writing, shares in the explosives and fertilisers company are down 3.54% to $3.27. This comes even after Dyno Nobel confirmed a major step forward in its plan to simplify the business.

The weakness appears to be more about broader market conditions than company-specific news. The S&P/ASX 200 Index (ASX: XJO) is down about 3.1% in early trading as escalating conflict in the Middle East weighs on global markets.

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

Dyno Nobel completes fertilisers separation

According to the release, Dyno Nobel has entered into a binding agreement to sell its Phosphate Hill fertiliser business. The asset will be acquired by Australian energy and resources group Mayfair.

The transaction represents the final step in Dyno Nobel's plan to separate its fertiliser operations and focus on its core explosives business.

Under the terms of the deal, the purchase price for Phosphate Hill is nominal consideration of $1. However, Dyno Nobel could receive up to $100 million in deferred payments depending on future performance conditions.

Mayfair will assume responsibility for the operational and environmental liabilities associated with the asset from completion. The company will also take on the economic risk of running the operation from 1 April 2026.

Dyno Nobel will contribute $125.9 million in funding to support future rehabilitation obligations at the site, reflecting existing provisions already recognised on its balance sheet.

The deal is expected to complete during the third quarter of FY26, subject to regulatory approvals and other conditions.

Explosives business remains strong

While Dyno Nobel is exiting fertilisers, management highlighted that its explosives business continues to perform well.

The company said its explosives division has delivered a solid operating performance so far in FY26. It remains on track to achieve EBIT guidance of $460 million to $500 million for the full year.

Currency headwinds in the Americas are expected to be offset by stable conditions across the Asia Pacific, Europe, and Latin America regions.

Dyno Nobel Chief Executive Officer Mauro Neves said the transaction marks an important milestone for the company.

He commented:

The sale of Phosphate Hill to Mayfair is an important milestone that concludes our separation from the fertilisers business. This transaction delivers the certainty we have been working towards and allows us to fully focus on our future as a global explosives leader.

What next for the Dyno Nobel share price?

Although the share price is falling today, the broader market weakness looks to be playing a key role.

Global markets have been rattled by rising geopolitical tensions in the Middle East, prompting investors to seek safer assets and dragging equities lower.

Even with today's decline, Dyno Nobel shares have still performed strongly over the longer term. The stock is up roughly 20% over the past 12 months.

With the fertiliser divestment largely resolved, investors will now focus on the performance of the company's core explosives business.

The post Why this ASX stock is slipping after today's major announcement appeared first on The Motley Fool Australia.

In 2025, it has seen its share price rise more than 40%. 

What's behind the success of this ASX 200 stock?

This rise has been driven by the company's strategic shift from being a pure explosives supplier to a broader, more diversified provider. 

The Motley Fool's Marc Van Dinther reported earlier this month that acquisitions in specialty chemicals businesses and the roll-out of digital blasting platforms have helped generate higher-margin, repeatable revenue rather than one-off explosives sales.

In its most recent financial results, the company reported its highest profit in 13 years. 

It also reported an EBIT of $992 million and strong growth across all segments. 

The company also paid out a record full year dividend of 57 cents, an increase of  21% from last year's 47 cents.

Macquarie's updated view

The team at Macquarie released a new report yesterday with updated guidance on this ASX 200 stock. 

One key takeaway from the report is the company's preparation for a strategy refresh (details expected in March) following positive early FY26 momentum.

Macquarie said Vik Bansal commences as Chairman post Dec 16 AGM who has a strong track record of cost out from his time as CEO of Boral (ASX: BLD).

Macquarie also highlighted that Orica could close the gap between itself and competitor Dyno Nobel (ASX: DNL). 

It said Dyno Nobel is in midst of its $300m transformation program; this is lifting margins with full benefits targeted in FY28. 

Dyno Nobel's EBIT margins are above Orica's at 13.4% (12.9% explosives) vs ORI's 12.0% in FY25a. 

In our view, an opportunity exists for ORI to close the margin gap to DNL through cost-out and mix benefit as higher margin Digital & SMC grows faster than Blasting. As a scenario, narrowing the gap by half over next 3-4 years would = c$100m of EBIT & a ~10% benefit to our FY28e/FY29e EPS.

Valuation

Macquarie said Orica shares are currently trading at 17.2× FY27 PE, a ~5% discount to the ASX100. 

It also said it is trading at a slight discount to competitor Dyno Nobel's 17.6x and it sees a positive earnings outlook for the ASX 200 stock coupled with a strong balance sheet.

Based on this guidance, Macquarie has an outperform rating on this ASX 200 stock. 

It also has a price target of $25.95. 

This indicates an upside of 10.85%. 

The post Macquarie tips double digit upside for this ASX 200 stock 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 dropping:

ASX Ltd (ASX: ASX)

The ASX share price is down over 2.5% to $56.65. Investors have been selling the stock exchange operator's shares following another damaging event. A number of ASX shares have been suspended from trade today due to an announcement outage. It stated: "ASX has implemented an initial remediation and commenced processing company announcements received since 11:22 AEDT. Earlier announcements remain impacted. We apologise for the disruption from this event and we are seeking to resolve this as soon as possible."

AUB Group Ltd (ASX: AUB)

The AUB Group share price is down almost 17% to $31.02. This follows news that the insurance broker's takeover talks have ended without a deal being reached. EQT and CVC had tabled a non-binding offer of $45.00 per share but have now withdrawn the proposal. AUB's CEO, Michael Emmett, said: "AUB Group continues to deliver robust performance, underpinned by a clear strategy and disciplined execution. The recent due diligence process, while demanding, has reaffirmed our confidence in our improvement initiatives and long-term growth prospects. Now that discussions with the Consortium have ended, our Board and management team are fully focused on advancing our portfolio of organic growth initiatives and acquisition opportunities. We remain confident in AUB Group's forecast FY26 financial performance and see significant opportunities to grow profits in FY27 and beyond."

Dyno Nobel Ltd (ASX: DNL)

The Dyno Nobel share price is down over 3% to $3.30. This has been driven by the commercial explosives company's shares going ex-dividend this morning for its final dividend of FY 2025. Eligible shareholders can now look forward to receiving Dyno Nobel's 9.5 cents per share payout later this month on 16 December.

HMC Capital Ltd (ASX: HMC)

The HMC Capital share price is down 7% to $3.60. This is despite there being no news out of the investment company on Monday. However, it is possible that this has been driven by profit taking from investors after some strong gains in recent weeks. For example, even after today's sizeable decline, HMC Capital's shares are up 24% since the middle of November.

The post Why ASX, AUB, Dyno Nobel, and HMC shares are sinking today appeared first on The Motley Fool Australia.

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The explosives company said on Monday that net profit excluding significant items came in at $423 million, up from $401 million the previous year.

The statutory result, including significant items, was a loss of $53 million, compared with a loss the previous year of $311 million.

This year's result included significant items worth $477 million after tax, "primarily relating to the sale of the fertilisers business and non-cash impairments", the company said.

Strong operating result

The company said in its statement to the ASX on Monday that it continued to perform well while also making headway on cost reductions.

Strong underlying earnings growth was delivered across the explosives business, with EBIT up 16% to $434 million, driven by margin expansion and cost efficiencies, with $60 million of net transformation benefits achieved during the year. The transformation program has continued to deliver in line with expectations and remains on track, with $134 million in total net transformation benefits generated since FY24.

Managing director Mauro Neeves said FY25 had been a year of significant progress for the company.

As he said:

We are nearing completion of our separation activities, with defined milestones in place for Phosphate Hill, and we continue to prioritise the sale of the asset to a qualified buyer by March 2026. Looking forward, Dyno Nobel's strong partnerships, network of assets and infrastructure continues to be an important part of our growth strategy globally.

Mr Neeves said the company had struck a deal to build a TNT plant in Kentucky with the US government, which would fund the project and which would ensure continuity of supply for North American customers.

The company said its buyback was continuing, with $430 million of a possible $900 million of shares bought back to date, with the buyback to recommence from November 11 following a blackout period.

Earnings to grow

On the outlook for FY26, the company said it expected EBIT for the explosives business to be in the range of $460 million to $500 million.

Dyno Nobel shares hit a 12-month high of $3.43 in early trade on Monday before settling back to be 4% higher at $3.34.

The company was valued at $5.76 billion at the close of trade on Friday.

Dyno Nobel will pay an unfranked dividend of 9.5 cents per share, up from 6.3 cents for the same period last year.

The post Shares in this explosives firm have hit a 12-month high after it reported solid underlying profits appeared first on The Motley Fool Australia.

What did Dyno Nobel report?

• Statutory group NPAT loss of $53.2 million (vs prior loss of $310.9 million), mainly due to $476.6 million in significant items
• Net profit after tax excluding significant items up 5.6% to $423.4 million
• Revenue dipped slightly to $5,345.2 million (down 0.4%)
• EBITDA (ex significant items) up 9.5% to $1,012.4 million
• Final dividend of 9.5 cps declared, unfranked; full year of 11.9 cps (vs 10.6 cps prior)
• Share buyback: $430.6 million completed of $900 million program

What else do investors need to know?

Dyno Nobel completed its structural separation from the Incitec Pivot Fertilisers (IPF) business, finalising the sale of the IPF Distribution arm to Ridley Corporation and renaming from Incitec Pivot during the year. The company is still working through the potential sale or closure of the Phosphate Hill fertilisers manufacturing facility, which remains part of continuing operations for now.

The explosives division navigated major planned manufacturing turnarounds in FY25, resulting in a 10% decrease in EBIT for Dyno Nobel Explosives to $413.3 million, but the Americas and APAC operations achieved strong cost efficiency gains. Fertilisers EBIT jumped 151% to $300.8 million, buoyed by strong commodity prices and lower depreciation after impairments were booked last year.

What did Dyno Nobel management say?

Mauro Neves, CEO & Managing Director said:

As a focused explosives business following the separation of fertilisers, we have delivered cost and operational improvements while progressing strategic priorities. The transformation program is on track to reach $300 million in EBIT uplift, and we remain committed to delivering value for our shareholders.

What's next for Dyno Nobel?

Looking ahead, Dyno Nobel expects the explosives division to generate EBIT of $460–$500 million in FY26, up from this year's $413 million, supported by a planned $30–$70 million in transformation benefits and no major plant turnarounds. Phosphate Hill's sale process remains a focus; if no agreement is reached by March 2026, closure will follow by September 2026.

The company's on-market buyback will continue, with solid funding capacity and a stable capital position. Growth efforts centre on explosives technology, US market expansion and ongoing efficiency transformation.

Dyno Nobel share price snapshot

Dyno Nobel shares have risen 3% over the past 12 months, trailing the S&P/ASX 200 Index (ASX: XJO) which has risen 6% over the same period.

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The post Dyno Nobel posts lower loss as transformation accelerates after fertilisers exit appeared first on The Motley Fool Australia.

Will the market be able to build on this on Friday and end the week on a high? Here are five things to watch:

ASX 200 expected to edge lower

The Australian share market looks set to fall on Friday despite a good night in the United States. According to the latest SPI futures, the ASX 200 is expected to open 5 points lower this morning. On Wall Street, the Dow Jones was up 0.15%, the S&P 500 rose 0.05%, and the Nasdaq pushed 0.4% higher.

Oil prices fall

It could be a poor finish to the week for ASX 200 energy shares Santos Ltd (ASX: STO) and Karoon Energy Ltd (ASX: KAR) after oil prices tumbled to a four-month low overnight. According to Bloomberg, the WTI crude oil price is down 1.7% to US$60.72 a barrel and the Brent crude oil price is down 1.55% to US$64.34 a barrel. Oil prices have sunk this week on oversupply concerns.

Dividend payday

It is payday for shareholders of a number of ASX 200 shares on Friday. This includes biotech giant CSL Ltd (ASX: CSL), financial services company Perpetual Ltd (ASX: PPT), energy retailer Origin Energy Ltd (ASX: ORG), pizza seller Domino's Pizza Enterprises Ltd (ASX: DMP), and infant formula company A2 Milk Company Ltd (ASX: A2M).

Gold price falls

ASX 200 gold shares Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) could have a subdued finish to the week after the gold price fell overnight. According to CNBC, the gold futures price is down 0.4% to US$3,881.7 an ounce. Traders may have been taking profit after the precious metal hit a new record high.

Dyno Nobel

The team at Morgans has given its verdict on Dyno Nobel Ltd (ASX: DNL) following the completion of its fertilisers business to Ridley Corporation Ltd (ASX: RIC). Morgans said: "DNL's trading update was materially stronger than expected for the business it no longer wants, Fertilisers. Explosives in on track to achieve previous guidance. We have made material upgrades to our FY25 and FY26 forecasts for a much higher DAP price. However, given DNL is likely to close Phosphate Hill from September 2026, we have made material downgrades to our FY27 forecasts reflecting the highly dilutive nature of this decision. In its first year with no fertilisers, DNL is trading on a full FY27 PE of 18x and EV/EBITDA of 8.6x. We prefer ORI for exposure to the Explosives industry."

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What did Dyno Nobel report?

• Group EBIT for FY25 expected between $695 million and $715 million
• Dyno Nobel Explosives EBIT expected at $405 million–$413 million
• Phosphate Hill EBIT expected in the $225 million–$235 million range
• Fertilisers Distribution business sold for upfront proceeds of $381 million
• $430 million of the $900 million share buyback completed

What else do investors need to know?

The sale of the Fertilisers Distribution business to Ridley Corporation finalised for $250 million plus working capital adjustments, with additional transactions involving Gibson Island land and a stake in the Perdaman Offtake Agreement progressing. The company has completed its strategic review of fertiliser manufacturing, closing Geelong operations and selling the St Helens, Oregon facility to the Columbia River Nitrogen consortium.

A new US-based joint venture with Repkon USA will see Dyno Nobel operating a TNT manufacturing facility, marking the first of its kind in the US since the 1980s and backed by $435 million from the US Federal Government.

What did Dyno Nobel management say?

Commenting on the news, Jeanne Johns, Managing Director and CEO said:

Our performance this year showcases the benefits of our strategic transformation, enabling us to unlock value and drive long-term growth opportunities.

What's next for Dyno Nobel?

Dyno Nobel will use proceeds from recent asset sales to pay down debt and continue disciplined capital management. The business is focusing on growth opportunities, particularly in the US through the Repkon joint venture.

The strategic review has positioned Dyno Nobel to further streamline operations, and decisions on the future of Phosphate Hill will be made by March 2026, either through sale or an orderly closure should a buyer not emerge.

Dyno Nobel share price snapshot

Over the past 12 months, Dyno Nobel shares have risen 7%, slightly underperforming the S&P/ASX 200 Index (ASX: XJO) which has risen 8% over the same period.

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The Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES) Australian Crop Report, released in September, says that despite an unfavourable start to the winter cropping season in South Australia, Western Victoria, and Southern New South Wales, the season ended up being bountiful.

Above average July rainfall in South Australian and Victoria, combined with follow up rainfall in August has provided enough moisture for crop emergence and establishment, and although 3-4 weeks late, yield potential is positive.

Rainfall in southern New South Wales has not been as favourable with crops receiving just enough to maintain growth. Further rainfall will be crucial for current yield potential to be realised. By contrast, conditions have been favourable in Western Australia, Queensland, and northern New South Wales, reflecting timely rainfall that has maintained soil moisture profiles. These conditions have placed crops in an excellent position heading into spring.

RBC Capital Markets says the report is positive for agricultural stocks, with a number of logistics providers set to benefit.

Across our coverage, our preferences are now for post-harvest exposures, led by Graincorp (revised price target $10.50) the dominant soft commodity trader and supply chain provider, followed by NSW-exposed Qube (price target $4.30) and West Coast/Central exposed Aurizon (price target $3.20). 

Elsewhere, early-mid stage exposures include the remaining fertiliser production assets of Dyno Nobel Limited (ASX: DNL, price target $3.60) and crop protection provider Nufarm Limited (ASX: NUF, revised price target $2.75) that leverage the land preparation phases.

Graincorp shares are currently trading at $8.46, Qube shares are changing hands for $4.08, and Aurizon stock is $3.17.

Dyno Nobel shares are changing hands for $2.96, and Nufarm shares for $2.31.

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