The S&P/ASX 200 Materials Index (ASX: XMJ) rose 4.4% yesterday. Investors will be cautiously optimistic the rally can continue.

It appears Morgans is optimistic about the sector bouncing back, as it has initiated coverage on two ASX materials stocks with buy recommendations. 

Here's what the broker had to say. 

Many Peaks Minerals Ltd (ASX: MPK)

Many Peaks Minerals is an Australia-based mineral exploration company. The company focuses on advancing gold and copper projects and other mineral sector assets in West Africa.

Morgans has initiated coverage on the ASX materials stock with a speculative buy recommendation. 

The broker said the company is exploring the Ferke Gold Project (76.5%) in Cote d'Ivoire. 

Our modelling suggests the Ouarigue South system has already exceeded 1Moz Au ahead of an imminent Maiden MRE. 

At Ferke, our thesis is driven by geometry and early-stage economics rather than in-situ ounces.

Broad widths deliver favourable geometry supporting low strip ratios and unit costs, meaning scale doesn't need to be excessive to deliver robust economics. Our mining scenario outlines an initial 7.5-year operation producing ~110kozpa at an AISC of ~A$2,525/oz, with underground and regional potential providing a clear runway for mine life extensions and project scale growth.

Morgans has placed a price target of $1.92 on the ASX materials stock assuming an effective 76.5% ownership, including government free carry. 

From yesterday's closing price of $0.98, this indicates an upside potential of approximately 96%. 

Deterra Royalties Ltd (ASX: DRR)

This ASX materials stock manages a portfolio of mining royalty assets.

Morgans has just initiated coverage on the company with a buy rating and $4.85 target. 

DRR offers a rare capital-light exposure to tier-1 iron ore via a 1.232% Gross Revenue Royalty over BHP's Mining Area C (a 45yr+ mine life asset with near-zero operating risk for the royalty holder) which delivers a 93% EBITDA margin. 

The Trident acquisition (Sep-24) added Thacker Pass, a 1.05% Gross Royalty Revenue (GRR) over a global-scale lithium deposit (85yr mine life, General Motors-backed). 

This provides genuine battery metals optionality worth A$0.40/share risked, diversifying the revenue base beyond iron ore. DRR trades at 9.7x FY27F EV/EBITDA, a 32-46% discount to global royalty peers (Franco-Nevada 19x, Wheaton 18x) that we believe is excessive given robust earnings platform, path to net cash, and emerging capital return optionality.

From yesterday's closing price of $4.17, this price target indicates a potential upside of approximately 16%. 

The post Morgans just placed buy ratings on these ASX materials stocks appeared first on The Motley Fool Australia.

ASX All Ords shares have risen 1.7% over the week as more companies revealed strong earnings results and dividends.

Next week, a large group of ASX shares go ex-dividend. We provide a sample of these stocks below.

To pick up a dividend payment, you must own the share before the ex-dividend date.

ASX shares about to go ex-dividend

Here are 16 ASX shares going ex-dividend next week.

Which companies are reporting next week?

According to the calendar, we will hear from Adairs Ltd (ASX: ADH), Ampol Ltd (ASX: ALD), and Nib Holdings Ltd (ASX: NHF) on Monday.

On Tuesday, ARB Corporation Ltd (ASX: ARB), Woodside Energy Group Ltd (ASX: WDS), and Monadelphous Group Ltd (ASX: MND) are up.

On Wednesday, we'll get reports from Bapcor Ltd (ASX: BAP), Domino's Pizza Enterprises Ltd (ASX: DMP), and Fortescue Ltd (ASX: FMG).

Light & Wonder Inc (ASX: LNW), Wisetech Global Ltd (ASX: WTC), and Woolworths Group Ltd (ASX: WOW) will also report on Wednesday.

On Thursday, Karoon Energy Ltd (ASX: KAR), Monash IVF Group Ltd (ASX: MVF), and Qantas Airways Ltd (ASX: QAN) will release their earnings.

Ramsay Health Care Ltd (ASX: RHC), Super Retail Group Ltd (ASX: SUL), and Worley Ltd (ASX: WOR) will also be in the spotlight.

On Friday, we'll see reports from Coles Group Ltd (ASX: COL), Star Entertainment Group Ltd (ASX: SGR), and TPG Telecom Ltd (ASX: TPG).

The post 16 ASX shares going ex-dividend next week appeared first on The Motley Fool Australia.

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

What did Deterra Royalties report?

• Revenue from continuing operations: $117.2 million, up 12%
• Net profit after tax (NPAT): $87.2 million, up 36%
• Underlying EBITDA: $109.1 million (margin 93%), up 11%
• Net debt reduced to $148.8 million (from $308.5 million at end December 2024)
• Fully franked interim dividend of 12.4 cents per share (75% of NPAT), up 38%
• Divestment of non-core precious metal assets for around $124 million, achieving a ~28% pre-tax IRR

What else do investors need to know?

Deterra Royalties saw solid production from its cornerstone Mining Area C (MAC) iron ore asset, with first half output rising 6% to 72.6 million wet metric tonnes. The company also made substantial progress at its Thacker Pass lithium project in Nevada, including a US$435 million first drawdown of a U.S. Department of Energy loan and a further DOE equity investment in the project joint venture.

The divestment of non-core precious metals assets (acquired via the Trident Royalties transaction) allowed Deterra to pay down debt and strengthen liquidity, leaving $344 million in undrawn facilities for future opportunities. Net tangible assets per share improved, and the balance sheet remains conservative with gearing at just 6%.

What's next for Deterra Royalties?

Looking ahead, Deterra will continue to focus on maximising returns from its MAC and Thacker Pass royalty streams, while keeping a close eye out for new royalty investment opportunities. The company plans to maintain its dividend payout at 75% of NPAT, supported by steady cash flows and a strong balance sheet.

Ongoing project development at Thacker Pass is progressing towards the late 2027 target for first lithium production, with detailed engineering now 80% complete. Deterra will also look to deploy its available debt capacity carefully as new value-accretive opportunities arise.

Deterra Royalties share price snapshot

Over the past 12 months, Deterra Royalties shares have declined 2%, trailing the S&P/ASX 200 Index (ASX: XJO) which has risen 5% over the same period.

View Original Announcement

The post Deterra Royalties declares record profit and bigger dividend for 1H26 appeared first on The Motley Fool Australia.

What did Deterra Royalties report?

• Total portfolio revenue: $62.9 million for the December quarter, up 16% on the previous quarter
• Mining Area C (MAC) royalties: $62 million, up 15% quarter-on-quarter on record sales volumes
• Other royalties: $0.9 million, a rise from $0.3 million in the prior quarter
• First US$435 million draw down received for Thacker Pass lithium project
• No interim dividend declared in this update
• Jason Neal appointed as interim Managing Director and CEO

What else do investors need to know?

The company's flagship MAC asset delivered record iron ore sales this quarter, with production rising 10% and prices improving by 6% to an average of $143 a tonne. This underpinned the solid revenue growth for Deterra, which receives a revenue royalty from BHP's Mining Area C operations.

On the lithium front, the Thacker Pass project in Nevada reached a significant milestone with the first US$435 million drawdown from a US Department of Energy loan, helping accelerate construction. The project remains on track for first lithium carbonate production by the end of 2027.

Outside these two core assets, Deterra has early-stage royalty interests in several North American battery metals projects. Highlights include Anson Resources' Paradox Lithium Project, where offtake and partnership developments continue to progress.

What did Deterra Royalties management say?

Interim Managing Director and CEO Jason Neal said:

The quarter showcased the strong, consistent cashflow from our foundation asset, MAC, underpinned by record quarterly sales, as well as a strong pricing environment.

Throughout the quarter, the Thacker Pass Lithium Project continued to advance toward first production and cashflow on our royalty. Project development is tracking well against the late CY27 target of first lithium carbonate production. The US$435 million First Draw of the DOE Loan, and the equity positions taken by the DOE in LAC and the JV, provide pathways for the JV operators to accelerate the production timeline and reinforces the US government's support of Thacker Pass as a project of strategic importance.

With our strong balance sheet, we will continue to drive value from our core MAC and Thacker Pass royalties and earlier stage royalty assets, while also diligently pursuing opportunities for royalty investments and financing through the strict lens of shareholder value creation.

What's next for Deterra Royalties?

Looking ahead, Deterra will continue to benefit from the stable cash flows generated by its MAC iron ore royalty and the ongoing development of the Thacker Pass lithium project. With construction at Thacker Pass progressing and first lithium production targeted for late 2027, Deterra is well positioned to participate in the global energy transition.

Management says Deterra will also focus on actively seeking new royalty investment opportunities to diversify and grow its earnings base, always with a clear focus on shareholder value.

Deterra Royalties share price snapshot

Over the past 12 months, Deterra Royalties shares hav risen 4%, which is in line with the S&P/ASX 200 Index (ASX: XJO).

View Original Announcement

The post Deterra Royalties posts higher Q2 revenue as MAC iron ore shines appeared first on The Motley Fool Australia.

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

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

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

Never fear, there is a simple way, via entities listed on the ASX, that you can buy into the strong performance of our resources winners without the risk and complexity of picking your own shares to buy.

One method is by buying exchange traded funds (ETFs), which aim to track the performance of a basket of shares, and another way is by not investing in the companies themselves, but in the royalty streams they generate.

Gold ETF a winner

If you're keen on tracking the performance of mining companies themselves, one option is the Betashares global gold miners ETF (ASX: MNRS) ETF.

This particular ETF aims to track an index of the world's largest gold mining companies, and if you've been paying attention to the gold price over the past year, you'd assume correctly that an investment in this vehicle has paid off handsomely.

While a hiccup in the price of gold's seemingly inevitable march higher has meant MNRS has fallen 5.8% over the past month, looking further back, it's delivered a whopping 82.5% over the past year and a compound 15.6% over the past five years.

Some of the major holdings in the MNRS ETF include Barrick Gold Corp at 9.1%, Newmont Corporation (ASX: NEM) at 7.4%, and Agnico Eagle Mines also at 7.4%.

A slightly different vehicle is Betashares Global Royalty ETF (ASX: ROYL), which tracks the royalty streams generated by not only resources companies, but also companies with strong intellectual property holdings, and royalty financing arrangements.

While ROYL's largest holding is in Wheaton Precious Metals Corp, its second largest holding is in Universal Music Group, and it also holds a stake in Royalty Pharma Plc.

ROYL would be useful for investors seeking a regular income stream, as it pays out a distribution each month.

The fund's performance over the past year has been 25.8%, while looking further back, it has delivered compound annual growth of 21.1% over five years.

More mining royalty streams

And lastly there is Deterra Royalties Ltd (ASX: DRR), which holds the rights to a number of royalty streams in sectors such as iron ore, gold, and lithium.

The company says its benefit lies in gaining direct exposure to commodity price upside, without the risk associated with project development or operating cost issues.

At the end of FY25, the company held 28 royalties and "royalty-like assets" across 11 countries and six commodities, according to its annual report.

The report goes on to say:

With revenue-producing assets, and investments in projects across the development cycle, Deterra couples strong, consistent revenue streams with significant near, medium and long-term optionality.

Deterra's total shareholder return over the past year has been 7.4%, while over a five year period, it has been 2.2%, according to data sourced from CMC Markets.

Currently, it is offering a fully-franked dividend yield of 5.77%, according to the ASX website.   

The post How to take the guesswork out of getting exposure to the mining sector appeared first on The Motley Fool Australia.

In afternoon trade, the ASX 200 mining stock is down over 6% to $3.92.

This means the mining royalties company's shares have given back yesterday's gains and more.

Is this a buying opportunity for investors? Let's see what analysts at Macquarie Group Ltd (ASX: MQG) are saying about the company.

What is the broker saying about this ASX 200 mining stock?

Macquarie notes that Deterra Royalties has agreed to sell the gold offtakes acquired via the Trident deal for US$56 million. This complements its earlier sale of La Preciosa for US$22 million.

The broker points out that this is the final part of a portfolio revamp. It said:

DRR's sale of its non-core gold offtakes for US $56m marks the final stage of a portfolio cleanse following the Trident acquisition. Recently, it sold the La Preciosa royalty package for US $22m, yielding US$78m, or slightly over A$100m. DRR assesses the offtake transaction to have generated a 25% pre-tax IRR since acquisition, based on its fair carrying value assessment at the time of the Trident acquisition.

Overall, Macquarie appears supportive of the transaction and highlights that it means the ASX 200 mining stock is now back to being an industrial metals-focused royalty vehicle. It adds:

Clean-up complete, back to base: The gold off-take foray was a function of acquiring Trident for Thacker Pass and the basket of preproduction royalties. With the portfolio now streamlined, DRR's original proposition of an industrial metals-focussed royalty vehicle can be resumed, which we assume will focus on base metal royalties and counter-cyclical investments.

Should you invest?

Macquarie is sitting on the fence with this one.

According to the note, the broker has retained its neutral rating on the ASX 200 mining stock with a steady price target of $4.20.

Based on its current share price of $3.92, this implies potential upside of 7.1% over the next 12 months.

In addition, the broker is forecasting a 5.2% dividend yield in FY 2026. This brings the total potential return 12-month to approximately 12%.

Commenting on its neutral rating, the broker said:

Neutral: The transaction simplifies and differentiates DRR as an industrial metals royalty company without precious exposure. Those looking to have exposure to the industrial metals complex for lower beta may find DRR an attractive alternative to higher operationally leveraged exposures.

Catalyst: Progress updates on Thacker Pass phase 1 construction and first production.

The post Does Macquarie rate this ASX 200 mining stock a buy, hold or sell? appeared first on The Motley Fool Australia.

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:

Deterra Royalties Ltd (ASX: DRR)

The Deterra Royalties share price is up 2.5% to $4.20. This morning, this royalties company announced an agreement to sell its non-core gold offtake assets for a total consideration of US$60 million (A$91 million) to Vox Royalty Corp. Deterra's managing director and CEO, Julian Andrews, commented: "Deterra acquired the portfolio of gold offtakes, along with the Dandoko royalty, as part of the acquisition of Trident Royalties in September 2024, while St Ives has been part of Deterra's portfolio since listing in 2020. Consistent with our strategic investment focus on base, bulk, battery and electrification commodities and our disciplined management of capital, we continuously review our portfolio for opportunities from non-core assets."

DroneShield Ltd (ASX: DRO)

The DroneShield share price is up a further 7% to $3.79. Investors have been bidding this counter drone technology company's shares higher this week after it announced that it is significantly expanding its research and development (R&D) operations in the United States. DroneShield USA's CEO, Matt McCrann, said: "As we continue to scale our operations globally, this expansion in the U.S. plays a crucial role in enhancing our ability to innovate and deliver advanced solutions for the evolving defense industrial base right here in the U.S. We're investing in the future of defense, and our growing footprint and impact in the U.S. market directly supports that effort."

Lindian Resources Ltd (ASX: LIN)

The Lindian Resources share price is up 8% to 27 cents. This morning, this rare earths developer announced the appointment of DRA Pacific to complete the Kangankunde Phase 2 Expansion Study. The release notes that DRA is a global leader in rare earths processing with a proven track record of delivering innovative, technically advanced solutions across all stages of project development.

Race Oncology Ltd (ASX: RAC)

The Race Oncology share price is up over 10% to $3.32. This follows the release of a positive announcement from the clinical stage biopharmaceutical company this morning. It revealed that the Republic of Korea Ministry of Food and Drug Safety (MFDS) has approved the Investigational New Drug (IND) application to evaluate the safety, tolerability, and pharmacokinetics of RC220 in combination with doxorubicin in solid tumour patients. CEO Dr Daniel Tillett notes that "this approval allows patient enrolment in Korea and confirms the strength of the RC220 data package."

The post Why Deterra Royalties, DroneShield, Lindian, and Race Oncology shares are rising today appeared first on The Motley Fool Australia.

ASX 200 shares are currently down 0.34% to 8,988.6 points.

As the August reporting season continues, millions of dollars in dividends are beginning to flow into investors' bank accounts.

To receive an ASX share's dividend, you must buy or already own the stock before its ex-dividend day, which is typically one business day before the record date.

The record date is the day a company reviews its shareholder register to determine who is entitled to receive the next dividend.

Next week, a huge number of stocks will go ex-dividend. We provide a sample of ASX 200 shares going ex-dividend below.

If you want to buy any of these ASX 200 shares while they are trading cum dividend, time is now critical.

16 ASX shares about to go ex-dividend

Which companies are reporting next week?

Next Monday, 25 August, we'll hear from Ansell Ltd (ASX: ANN), Bendigo and Adelaide Bank Ltd (ASX: BEN), Endeavour Group Ltd (ASX: EDV), Fortescue Ltd (ASX: FMG), Pilbara Minerals Ltd (ASX: PLS), and Santos Ltd (ASX: STO).

On Tuesday, we'll see the latest numbers for ASX 200 supermarket share, Coles Group Ltd (ASX: COL).

Wednesday is a big day with Domino's Pizza Enterprises Ltd (ASX: DMP), Flight Centre Travel Group Ltd (ASX: FLT), Lovisa Holdings Ltd (ASX: LOV), Sigma Healthcare Ltd (ASX: SIG), Woolworths Group Ltd (ASX: WOW), and WiseTech Global Ltd (ASX: WTC) releasing results.

On Thursday, we'll see reports from Medibank Private Ltd (ASX: MPL), Mineral Resources Ltd (ASX: MIN), Qantas Airways Ltd (ASX: QAN), Ramsay Health Care Ltd (ASX: RHC), Sandfire Resources Ltd (ASX: SFR), South32 Ltd (ASX: S32), and Wesfarmers Ltd (ASX: WES).

Friday will bring the latest numbers for ASX 200 property share PEXA Group Ltd (ASX: PXA), and Steadfast Group Ltd (ASX: SDF).

The post 16 ASX 200 shares going ex-dividend next week appeared first on The Motley Fool Australia.

ASX 200 utilities, financials, and consumer discretionary shares dragged the market to its new peak today.

The new record followed a 0.25% interest rate cut announced by the Reserve Bank of Australia in the afternoon.

Several ASX exchange-traded funds (ETFs) tracking the ASX 200 Index also hit record highs today.

They included the SPDR S&P/ASX 200 ETF (ASX: STW), which peaked at $79.83 per unit.

The Betashares Australia 200 ETF (ASX: A200) hit $148 per unit.

The iShares Core S&P/ASX 200 ETF (ASX: IOZ) reached $35.69 per unit.

The rate cut also resulted in a new record high for the S&P/ASX 300 Index (ASX: XKO) at 8,825.5 points.

This sent the biggest Aussie ETF, the Vanguard Australian Shares Index ETF (ASX: VAS), to a new peak of $110.

7 ASX 200 stocks also set records today

A bunch of individual ASX 200 stocks hit new price peaks today.

Here is a sample.

Life360 Inc (ASX: 360)

This ASX 200 technology darling ascended to a record high of $43.34.

Life360 shares surged 8% on Tuesday after the family location app provider released its June quarter report.

The tech share was the fastest riser of the ASX 200 today.

Lynas Rare Earths Ltd (ASX: LYC)

The Lynas share price lifted to a 13-year high of $13.31.

Top broker Macquarie has an underperform rating with a price target of $9 on the ASX 200 rare earths stock.

Charter Hall Group (ASX: CHC)

This ASX 200 real estate investment trust (REIT) lifted to a four-year high of $21.94 today.

Charter Hall was the No. 1 property stock for price growth in FY25.

GPT Group (ASX: GPT)

Another ASX 200 property stock, GPT Group, rose to a three-year high of $5.22 on Tuesday.

Macquarie has an outperform rating on GPT Group shares with a 12-month price target of $5.36.

Deterra Royalties Ltd (ASX: DRR)

Deterra Royalties shares lifted to a 15-month high of $4.49 on Tuesday.

WAM Capital Ltd (ASX: WAM)

This ASX 200 listed investment company (LIC) matched its near two-year high of $1.72, reached last Thursday, today.

WAM Capital released its July investment update today.

IMDEX Ltd (ASX: IMD)

This ASX 200 materials stock rose to a record high of $3.34.

Fund manager L1 Capital has a buy rating on IMDEX shares.

The fundie continues to see "positive tailwinds for the business, above and beyond the improving market environment …".

The post 7 ASX 200 stocks soar to multi-year highs amid new market record appeared first on The Motley Fool Australia.

Information technology and financial sector shares are weighing down the bourse today.

On the other side of the coin, the materials sector is up strongly, rising 1.36% on Friday, led by the mining stocks.

Meanwhile, a group of ASX 200 shares reached multi-year high prices today.

Let's take a look.

Which ASX 200 shares just struck a multi-year high?

Wesfarmers Ltd (ASX: WES)

The largest ASX 200 consumer discretionary share lifted to a record $90.39 on Friday.

Macquarie has a neutral rating on Wesfarmers shares and a 12-month price target of $82.

JB Hi-Fi Ltd (ASX: JBH)

This ASX 200 retail share rose to a record $117.32 today.

Bell Potter has a buy rating on JB Hi-Fi with a share price target of $114.

Lynas Rare Earths Ltd (ASX: LYC)

The Lynas share price ascended to a three-year high of $12.53.

Macquarie has an underperform rating with a price target of $9 on this ASX 200 rare earths share.

Newmont Corporation CDI (ASX: NEM)

This ASX 200 gold share lifted to a 3-year high of $107.13 today.

Ord Minnett has a buy rating and a $115 price target on Newmont shares.

Orica Ltd (ASX: ORI)

Stock in this explosives manufacturer rose to a five-year high of $21.74 today.

UBS has a buy rating on Orica with a 12-month share price target of $32. 

Charter Hall Group (ASX: CHC)

This ASX 200 real estate investment trust (REIT) rose to a four-year high of $21.66 on Friday.

Charter Hall was the No. 1 property stock for price growth in FY25.

ALS Ltd (ASX: ALQ)

The ALS share price hit a record of $18.63 today.

Eagers Automotive Ltd (ASX: APE)

The Eagers Automotive share price rose to a record $20.72 on Friday.

Macquarie has an outperform rating on this ASX 200 auto share with a price target of $20.60.

Harvey Norman Holdings Ltd (ASX: HVN)

The Harvey Norman share price lifted to a four-year high of $6.05 today.

The 'retail sales surge' in June, along with rising property prices, are tailwinds for this consumer discretionary share.

Macquarie gives Harvey Norman shares an outperform rating with a price target of $5.90.

AMP Ltd (ASX: AMP)

The AMP share price hit a five-year high of $1.84 today.

Macquarie has a neutral rating and a $1.70 target price on AMP shares. 

Codan Ltd (ASX: CDA)

The Codan share price lifted to a record $23.67 on Friday.

Codan was one of the 5 best-performing ASX 200 tech shares of FY25.

Temple & Webster Group Ltd (ASX: TPW)

Temple & Webster shares rose to a record $26.30.

Morgan Stanley gives this retail share an overweight rating and $28 price target.

Regis Healthcare Ltd (ASX: REG)

The ASX 200 healthcare share rose to a record $8.88 today.

Generation Development Group Ltd (ASX: GDG)

The Generation Development Group share price hit a record $6.61 today.

The ASX 200 small-cap share outperformed all of its rivals in the financials sector in FY25.

Deterra Royalties Ltd (ASX: DRR)

Deterra Royalties shares lifted to a 15-month high of $4.38 on Friday.

The post 15 ASX 200 shares advancing to multi-year highs today appeared first on The Motley Fool Australia.

Top broker Macquarie has just issued a note about Australia's critical minerals, including its forecasts for Deterra Royalties shares.

Let's take a look.

What is Deterra Royalties?

Deterra Royalties shares are a little different to typical ASX mining stocks.

Deterra manages a portfolio of 28 royalties and royalty-like offtake assets in 11 countries and involves six commodity types.

It is Australia's first listed mining royalty investment company of scale.

Mining royalties are agreements that provide a miner with a one-time payment in exchange for a share of future revenues.

Deterra either buys royalties from third parties or provides finance to mining companies in exchange for ongoing royalty payments.

Deterra's biggest royalty asset is Mining Area C (MAC) in the Pilbara region, which is operated by BHP Group Ltd (ASX: BHP).

Deterra Royalties also holds royalty assets in the base and battery metals commodities of mineral sands, copper, lithium, gold, and silver.

These are future-facing commodities used in technology and the green energy transition.

The company says the biggest benefit of investing in mining royalties over mining companies is lower capital and operating risks.

Will Deterra Royalties shares rise or fall over the next year?

Macquarie is bullish on Deterra Royalties shares.

It has an outperforming rating on the mining stock with a 12-month price target of $4.40.

This implies a potential 20% upside.

In a new note, the broker took into account the 3Q FY25 update from Deterra Royalties, which was released on 30 April.

The update prompted Macquarie to cut its earnings per share (EPS) forecast for FY25 by 2%. But it left its price target unchanged.

Macquarie commented:

Production at MAC was solid in the March quarter reflecting continued supply chain performance, which translated to record volume delivered from the Central Pilbara hub (South Flank and Mining Area C).

DRR reported MAC revenue of A$55.6m in the period, which was further boosted by gold offtake margin of A$5.6m.

The company has commented that Thacker Pass construction remained underway with first production targeted in CY27. Our base case has assumed first production in the 3QCY27.

Macquarie said the main risk to its outlook on Deterra Royalties shares is movements in the iron ore price.

Movements in iron ore prices that vary compared with our forecasts present the key risk to our earnings estimates and valuation for DRR.

Any value accretive royalty acquisitions present key risks to earnings forecast and valuation.

The post How much upside does Macquarie tip for Deterra Royalties shares? appeared first on The Motley Fool Australia.

This has led to the broker making a number of upgrades and downgrades to its recommendations. Let's see which ASX 200 mining shares have been impacted:

Fortescue Ltd (ASX: FMG)

The worst could be over for Fortescue shares after their fall from grace over the past 12 months.

This morning, Goldman Sachs has taken its sell rating off the iron ore miner's shares and upgraded them to neutral with a $15.30 price target. The broker explains:

Upgrade FMG to Neutral (from Sell) with the stock now trading at ~0.8x NAV, although we expect FCF to compress over 2025 in-line with our lower iron ore price forecasts. The company does have levers it can pull on opex and capex if required.

Mineral Resources Ltd (ASX: MIN)

Despite falling almost 80% over the past 12 months, Goldman Sachs isn't any more positive on this ASX 200 mining share.

In fact, this morning, the broker has downgraded the mining and mining services company's shares to a sell rating with an $18.00 price target. It said:

Downgrade MIN to Sell (from Neutral) on valuation (and relative TSR vs. our coverage), high net debt and low FCF, and after downgrading EBITDA estimates after pushing out the Ashburton ramp-up and decreasing our near to medium term iron ore price forecasts. MIN continues to be highly geared, and we forecast net debt to further increase across FY25/26.

Whitehaven Coal Ltd (ASX: WHC)

Another ASX 200 mining share that has been hit with a downgrade is coal miner Whitehaven Coal.

Goldman has taken its buy rating off its shares and downgraded them to neutral with a $5.70 price target. It explains:

Downgrade WHC to Neutral (from Buy) with our EBITDA estimates now well below Visible Alpha Consensus Data post our coal price downgrades, and limited FCF over the near to medium term, with an average FCF yield of -2% from FY25-30 (~A$100mn per annum). WHC may have to defer capex if coal prices stay low.

Elsewhere, the broker has downgraded coal miner Coronado Global Resources Inc (ASX: CRN) and mining royalties company Deterra Royalties Ltd (ASX: DRR) to neutral ratings and upgraded copper miner Sandfire Resources Ltd (ASX: SFR) to a buy rating with a $10.20 price target.

In respect to the latter, the broker said:

Upgrade SFR to Buy (from Neutral) on valuation, our positive long run view on copper despite expected volatility near term, and strong FCF and deleveraging, trading on >10% FCF yield from 2025-2027, and forecast to be net cash by end of FY26 on our estimates.

The post Goldman Sachs upgrades Fortescue shares but downgrades these ASX 200 miners appeared first on The Motley Fool Australia.

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

With most of these dividend announcements, the payday usually comes soon after.

But before a dividend payday, there must be an ex-dividend date. That's when the line is officially drawn in the sand, indicating which investors are eligible to receive said dividend and which are not.

The rule is that any investor with shares to their name as of the market close before a company's ex-dividend date gets the paycheque. Anyone who buys on or after the ex-dividend date misses out, with the seller retaining the rights to the dividend.

Next week will see a huge chunk of the ASX 200 trade ex-dividend for their latest payouts.

With that in mind, here are the 24 ASX 200 dividend shares that will go through this process next week.

24 ASX 200 shares trading ex-dividend next week

Foolish takeaway

So there you have it, all 24 of the ASX 200 shares scheduled to trade 'ex-div' next week. As you can see, there's a healthy mixture of stocks, large and small. They range from energy shares like Santos and financials like AMP to blue chip banks like Bendigo Bank and healthcare stocks like Pro Medicus.

Let's see what kind of dividends get announced next week.

The post 24 ASX 200 shares with ex-dividend dates next week appeared first on The Motley Fool Australia.

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