However it wasn't all doom and gloom. 

Several ASX materials stocks shot higher, including: 

• Lynas Rare Earths Ltd (ASX: LYC) up 5%
• Elevra Lithium (ASX: ELV) jumped 5%
• Brazilian Rare Earths (ASX: BRE) climbed almost 10%. 

These companies have now all doubled in the last 12 months. 

Let's see what was behind the strong start to the week for these ASX materials stocks, and if there is more upside. 

Brazilian Rare Earths rockets on expansion news 

Brazilian Rare Earths operates as a mineral exploration company. It focuses on the discovery and development of mineral resources in Brazil. 

Following yesterday's impressive 10% rise, it is now up more than 200% in the last two years. 

Investors were gobbling up this ASX materials stock yesterday after it announced the spin-off of its aluminium business. 

Brazilian Rare Earths plans to demerge its Amargosa bauxite and gallium project into a new company through an initial public offering worth up to $50 million.

The company said the move separates two large-scale, strategically important mineral platforms with different development pathways.

At the time of writing, this ASX materials stock is trading for approximately $5.87. 

However in good news for prospective investors, experts are tipping more upside, including an $8 price target from Canaccord. 

This target is still 36% higher than current levels. 

Lynas still has upside 

Lynas is primarily involved in the exploration, development, and processing of rare earth minerals in Australia and Malaysia. 

It sits at the centre of a critical supply chain: rare earth magnets. 

These are used in electric vehicles, wind turbines, and advanced electronics.

It is one of the few major rare earths producers outside China, which has helped it benefit from geopolitical concerns around supply security and diversification.

After yesterday's 5% rise, it is now up 150% in the last 12 months and closed yesterday at $18.93. 

However 15 analyst forecasts via TradingView have an average price target of $22.45 on this ASX materials stock – indicating a further 18% upside. 

Elevra Lithium can keep rising

Elevra is an emerging lithium producer focused on sourcing and developing the raw materials needed to construct lithium-ion batteries, primarily lithium and graphite.

Like many lithium shares, it has benefited from surging oil costs, which has reignited the appeal for alternative energy sources.

After yesterday's rise, it is now up 380% in the last year. 

According to analyst forecasts via TradingView, it has another 30% upside to reach fair value. 

The post Can these soaring ASX materials stocks keep rising? appeared first on The Motley Fool Australia.

New money raised at a discount

The company said in a statement to the ASX on Tuesday that it had raised the money at $12.20 per share, pushing its shares as low as $12.20 before they recovered to be 8.1% lower at $12.62.

The company said the placement received strong support from existing shareholders, "and a high-quality cohort of new domestic and global institutional investors, reflecting recognition of the company's accelerated North American Lithium (NAL) Brownfield expansion strategy and key Moblan technical and pre-development workstreams to FID (final investment decision)".

Existing Elevra shareholders will also be able to apply for new shares at the offer price, with $20 million in new shares available under the share purchase plan.

The company also announced on Monday that it had struck an agreement with the Canada Growth Fund for $146 million in convertible notes.

The company said regarding the overall funding package:

The Strategic Financing Package has been structured to provide Elevra with a high degree of funding certainty and balance sheet flexibility through a transformational phase of growth. Together, the fully underwritten Placement, strategic Convertible Notes investment and SPP will fully fund the NAL Brownfield Expansion project, alongside fund key Moblan technical and pre-development activities through to FID while maintaining prudent liquidity and optionality through market cycles. Importantly, the NAL expansion will deliver accelerated production growth, improving mill throughput and driving meaningful unit cost reductions. This investment underpins Elevra's transition towards a lower cost, resilient, sustainable, and globally relevant lithium producer, enhancing cash flow generation and competitiveness across a range of lithium price environments.

Elevra Managing Director Lucas Dow said finalising the funding was an important milestone.

He added:

This financing marks a key inflection point for Elevra, delivering full funding certainty across the three stages of the NAL Brownfield Expansion while preserving balance sheet flexibility at a critical point in our growth trajectory. With strong strategic support from Canada Growth Fund, we are well positioned to execute our near-term growth plans, materially increasing production scale while reducing unit costs. Together with advancing Moblan toward development, this transaction sets the stage to fundamentally reshape Elevra into a larger, more resilient, globally competitive lithium producer.

Shares performing strongly

Elevra has raised the money close to its year-highs, with the stock appreciating from as low as $2.10 over the past 12 months to $13.74 before the placement, close to the year-high of $14.06.

Elevra is valued at $2.33 billion.

The post Why are shares in this major ASX lithium company down almost 10% today? appeared first on The Motley Fool Australia.

At the time of writing: 

• Elevra Lithium Ltd (ASX: ELV) is up 7% to fresh highs of $13.80
• SKS Technologies Group Ltd (ASX: SKS) is up 1.6% to $7.20
• Vitrafy Life Sciences Ltd (ASX: VFY) is up 10% to $2.19

These ASX shares are now hitting fresh yearly highs. Many investors might now be questioning if it's too late to gain positions in these companies. 

Let's see what analysts are projecting. 

Elevra Lithium

Elevra Lithium engages in the exploration, development, and mining of lithium raw materials. Its portfolio includes projects in Québec, Canada, the United States, Ghana, and Western Australia. 

It has been one of the many ASX lithium shares charging higher this year. 

A key catalyst has been the global oil shock linked to the Iran conflict, which has increased interest in electric vehicles (EVs) as an alternative to expensive fossil fuels. This shift is boosting expected demand for lithium, a critical battery material.

At the time of writing, this ASX lithium stock is up 72% year to date. 

However, experts are suggesting that there is limited further upside. 

The average analyst forecast via TradingView indicates a fair price target of $14.03. 

This is just 2% higher than today's share price. 

SKS Technologies

SKS Technologies engages in the development and distribution of technology products. It provides audiovisual products & solutions and electrical and communications cabling for the commercial, retail, health, defence, and education markets.

It has been drawing positive outlooks from brokers thanks to its exposure to the booming data centre (DC) market.

At the time of writing, it is up 81% year to date and sits at $7.18 per share. 

This is significantly above recent price targets from Morgans, which recently retained its accumulate rating on its shares with a revised price target of $6.70.

Other analysts' ratings are hovering around $6.47 per share, which is 9.8% below current levels. 

Vitrafy Life Sciences

Vitrafy Life Sciences developed a range of proprietary smart cryopreservation hardware devices and Lifechain, an integrated, cloud-based software platform, to provide a complete, vertically integrated cryopreservation solution to retain the quality of cryopreserved biomaterials.

At the time of writing, its share price is up 71% year to date. 

Unlike the previous two ASX shares mentioned above, VFY shares may still have modest upside. 

According to analyst ratings via TradingView, VFY could rise a further 6% from current levels. 

The post What are brokers saying about these ASX shares hitting 52-week highs appeared first on The Motley Fool Australia.

Four of the fastest rising 10 stocks on the S&P/ASX 200 Index (ASX: XJO) today are lithium shares.

The best performer is diversified miner Mineral Resources Ltd (ASX: MIN), up 6.1% to $62.97 per share.

Next is lithium and nickel producer IGO Ltd (ASX: IGO), up 5.7% to $9.23 per share.

The Liontown Ltd (ASX: LTR) share price is 5.3% higher on Friday at $2.18.

The market's largest pure-play lithium company, PLS Group Ltd (ASX: PLS), cracked a new record at $6.14 today.

The PLS Group share price is currently $6.01, up 5.3%.

Among the smaller players outside the ASX 200, Elevra Lithium Ltd (ASX: ELV) shares hit a 52-week high of $10.39.

The Elevra Lithium share price is currently $10.31, up 11.9%.

Core Lithium Ltd (ASX: CXO) shares are up 9.4% to 37 cents apiece.

Lake Resources NL (ASX: LKE) shares are 7.6% higher at 9.9 cents.

What's driving ASX lithium shares higher?

Experts say the Iran war and ensuing global oil shock are reminding us of the value of electric vehicles (EV).

The lithium carbonate price has risen 9% this week and is up 43% year to date (YTD), according to Trading Economics data.

Analysts at Trading Economics say lithium prices are rising on a bullish future outlook.

Chinese EV manufacturer BYD announced it expects to sell more EVs this year due to the oil shock.

BYD has raised its 2026 sales forecast to 1.5 million units, up from the January estimate of 1.3 million units.

The analysts said:

The surge in crude oil and product prices since the start of March supported the outlook for larger economies to favor new energy vehicles, which use batteries that take lithium as a major input.

Demand also remained supported by Chinese investment in power infrastructure, recently exemplified by the announcement of higher power storage spending.

This was combined with Beijing stating it would double national EV charging capacity to 180 gigawatts by 2027, supporting lithium-rich energy storage systems.

In the meantime, Zimbabwe suspended exports of lithium concentrates and other raw materials to stimulate refining in the country.

Oil shock a tailwind for lithium prices

Lithium prices were already rebounding from a painful two-year downward spiral before the war in Iran began.

We have seen a rapid turnaround in lithium prices from mid-2025.

Supply/demand rebalanced after a long period of oversupply last year.

We also saw the impact of the green energy transition finally bleed through to markets in 2025.

Other commodity prices joined lithium in an upward surge in 2025 as the world began building new power infrastructure at scale.

The lithium carbonate price lifted to a two-year high of about US$26,200 per tonne in January.

It endured a short, sharp fall to just below US$20,000 in early February as part of a broader metals and minerals rout.

Today, the lithium carbonate price is US$24,850, representing a 43% year-to-date gain.

Lithium spodumene is up from about US$600 per tonne in June 2025 to US$2,415 per tonne today.

The post ASX lithium shares rally as oil shock highlights EV appeal appeared first on The Motley Fool Australia.

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

Elevra Lithium Ltd (ASX: ELV)

The Elevra Lithium share price is up 6% to $7.60. This morning, this lithium miner announced a non-binding agreement to supply Mangrove Lithium with spodumene concentrate produced at North American Lithium. A binding definitive agreement rests on a final investment decision by Mangrove Lithium for construction of a lithium conversion facility and the agreement on the final terms of the deal. If all goes ahead, Elevra would supply 140,000 tonnes per year of spodumene concentrate to Mangrove Lithium at market related prices, subject to a floor and ceiling price.

Pro Medicus Ltd (ASX: PME)

The Pro Medicus share price is up almost 2% to $163.90. This appears to have been driven by a broker note out of Morgans this morning. According to the note, the broker has upgraded the health imaging technology company's shares to a buy rating with a $290.00 price target. It said: "Pro Medicus provides that infrastructure, so, in many ways the acceleration toward AI potentially makes its business case more compelling as a product versus peers – at least in the medium term."

Sims Ltd (ASX: SGM)

The Sims share price is up 3% to $21.26. After the market close on Monday, this scrap metal company revealed that it has entered into an agreement to purchase assets of TCT Trading for US$66.5 million. It advised that this is seen as a key component to consolidating its Houston operations and significantly reducing its operating cost base. The company has also entered into an agreement to sell its nearby Mayo Shell property in Houston.

Treasury Wine Estates Ltd (ASX: TWE)

The Treasury Wine share price is up 6% to $5.48. This follows news that the wine giant has reached a settlement with Republic National Distributing Company (RNDC) in California. This follows RNDC's decision to exit the California market last year. Treasury Wine will repurchase its Treasury Americas portfolio inventory held by RNDC in California at original sale value. In addition, the company advised that it now expects first-half EBITS of approximately $236 million. This compares favourably to its previous guidance range of $225 million to $235 million.

The post Why Elevra Lithium, Pro Medicus, Sims, and Treasury Wine shares are roaring higher 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:

AUB Group Ltd (ASX: AUB)

The AUB Group share price is down 6% to $30.01. This morning, this insurance broker network company announced the successful completion of a share placement. AUB raised $400 million at a discount of $29.40 per new share. The company advised that the placement saw significant demand and support from both existing and new shareholders. AUB's CEO, Mike Emmett, said: "We are pleased with the outcome and thank our shareholders for their strong support for the Placement and the transaction. We are excited for Prestige to join the AUB Group and look forward to accelerating our UK Retail strategy to deliver value for shareholders."

Aurelia Metals Ltd (ASX: AMI)

The Aurelia Metals share price is down 3% to 34 cents. This morning, this gold miner announced that its CEO, Bryan Quinn, will be stepping down to pursue other career opportunities. Mr Quinn plans to remain with the company until the end of July. This is to ensure a smooth leadership transition and maintain the momentum across key operational and growth initiatives. Quinn commented: "I have greatly enjoyed my time working with the Aurelia team. It has been a privilege to lead the company as we improved market value, strengthened our strategic position, and built a strong leadership team with a performance-driven culture."

DroneShield Ltd (ASX: DRO)

The DroneShield share price is down 3.5% to $4.04. Investors have been selling this counter-drone technology company's shares since the release of its update this week. While it was a strong update, investors appear concerned by a reduction in its sales pipeline. Bell Potter wasn't concerned and has retained its buy rating and $5.00 price target on its shares. It said: "We believe DRO should see material contracts flowing from its $2.1b potential sales pipeline over the next 3-6 months as defence budgets roll over to FY26e."

Elevra Lithium Ltd (ASX: ELV)

The Elevra Lithium share price is down 14% to $7.89. This morning, this lithium miner released its quarterly update, which appears to have fallen short of expectations. Elevra reported a disappointing 15% quarter on quarter decline in spodumene concentrate production to 44,154 dmt. The company also revealed that its received US$998 per tonne for its lithium, whereas its unit operating costs were US$812 per tonne.

The post Why AUB, Aurelia Metals, DroneShield, and Elevra Lithium shares are dropping today appeared first on The Motley Fool Australia.

The S&P/ASX 200 Materials Index (ASX: XMJ) rose 2.3% to hit an eight-year high of 22,523.1 points this morning.

The materials sector is a long way out in front of the other 10 market sectors. The second best performer is real estate, up 0.9%.

A slew of ASX mining shares have also reset their 52-week highs today as commodity values continue to spike.

Meanwhile, the benchmark S&P/ASX 200 Index (ASX: XJO) is up 0.92% after a strong night on Wall Street.

The S&P 500 Index (SP: INX) hit a new record of 6,986.33 points last night, and finished 0.16% higher for the session.

The Dow Jones Industrial Average Index (DJX: .DJI), which tracks 30 selected S&P 500 stocks, also hit a record 49,633.35 points.

Surging commodity values continue to push ASX mining shares higher.

Let's take a look.

Commodity prices just keep going…

The hottest commodity on the global market right now, silver, is up 0.37% to US$84.24 per ounce at the time of writing.

The silver price has risen an astounding 30% in just one month and is up 181% year over year.

The lithium carbonate price leapt 8.6% in overnight trading to US$21,797.74 per tonne.

The commodity has surged 60% over the past month and has doubled year over year.

The aluminium price rose 1.3% overnight to US$3,189.8 per tonne. That's an 11% monthly gain and a 24% increase over 12 months.

The iron ore price rose 0.2% to US$108.25 per tonne. Iron ore is up 2% over the past month and almost 10% over 12 months.

The gold price is down 0.25% at US$4,586 per ounce, but up 6.5% over the month and 72% year over year.

The copper price is 1% lower at US$5.93 per pound. Copper futures are up 11% over the month and 38% year over year.

The red metal hit a record above US$6 per pound last week.

Let's check out the impact on ASX mining shares today.

ASX mining shares smashing 52-week highs today

ASX 200 iron ore and lithium miner Mineral Resources Ltd (ASX: MIN) rose 2.8% to a 52-week high of $60.20.

The market's largest pure-play copper share, Sandfire Resources Ltd (ASX: SFR), reached a 52-week peak of $19.58, up 4.4%.

The biggest pure-play lithium share, PLS Group Ltd (ASX: PLS), also hit a 52-week high of $4.92, up 3.1%.

Liontown Ltd (ASX: LTR) shares rose 4.2% to $2.24, and IGO Ltd (ASX: IGO) lifted 1.2% to $9.02 — both new 52-week highs.

The Elevra Lithium Ltd (ASX: ELV) share price ripped 11.6% to a 52-week high of $10.19.

ASX 200 diversified miner South32 Ltd (ASX: S32) hit a 52-week high of $4.04 per share, up 3.6%.

Unico Silver Ltd (ASX: USL) shares ripped 6.6% to a 52-week high of $1.13.

ASX 200 gold share Newmont Corporation CDI (ASX: NEM) lifted 0.8% to a record high of $167.99.

The Resolute Mining Ltd (ASX: RSG) share price rose 3.8% to a 52-week peak of $1.35.

Ramelius Resources Ltd (ASX: RMS) shares surged 3% to a record $4.52.

Gold and copper miner, Greatland Resources Ltd (ASX: GGP) lifted 5.1% to a 52-week high of $12.58 per share.

Aluminium stock Alcoa Corporation CDI (ASX: AAI) hit a 52-week high of $98.32 per share, up 3.8%.

The post ASX mining shares on fire! New 52-week highs today appeared first on The Motley Fool Australia.

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

Electro Optic Systems Holdings Ltd (ASX: EOS)

The EOS share price is up 11% to $11.12. On Monday, this defence and space company announced an agreement to acquire the MARSS counter-drone command and control business. It is a Europe-based provider of advanced software and AI systems used to detect, track, and respond to drone threats. EOS agreed an upfront cash amount of US$36 million (A$54 million) with a potential earn-out consideration of up to 100 million euros (A$174 million). This extra consideration is linked to how many new third-party contracts MARSS secures over the earn-out period.

Elevra Lithium Ltd (ASX: ELV)

The Elevra Lithium share price is up 9% to $9.98. This may have been driven by a broker note out of Macquarie Group Ltd (ASX: MQG). Its analysts have retained their outperform rating on the lithium miner's shares with an improved price target. The broker lifted its valuation to reflect higher than expected lithium prices. Though, with its price target now at $8.50 (from $7.00), Elevra Lithium's shares are trading comfortably ahead of this.

Lynas Rare Earths Ltd (ASX: LYC)

The Lynas share price is up 2.5% to $15.16. This is despite the rare earths producer revealing that its CEO, Amanda Lacaze, is retiring after 12 years in the role. Lynas' chair, John Humphrey, remains positive on the company's outlook despite the exit. He said: "It is thanks to Amanda's hard work, drive and tenacity that Lynas is today a leading rare earths producer and critical supplier to global manufacturing supply chains. Under Amanda's leadership, the company's production and operating footprint has grown and our market value has increased from around $400 million in 2014 to close to $15 billion. This provides an excellent foundation for the company's continued growth and development."

New Murchison Gold Ltd (ASX: NMG)

The New Murchison Gold share price is up 10% to 5.6 cents. This morning, this gold miner announced high grade gold results from a reverse circulation drill program at the Lydia Gold Prospect. New Murchison Gold's CEO, Alex Passmore, commented: "We are very pleased to provide this exploration update including high grade results for the Lydia gold prospect. Lydia sits on a granted mining lease very close to the Crown Prince Operation. We believe we can leverage off existing infrastructure (offices, maintenance facility, crusher, and sampling preparation facility) to bring Lydia online relatively quickly. NMG is working towards including Lydia into its resources and reserves inventory."

The post Why EOS, Elevra, Lynas, and New Murchison Gold shares are pushing higher today appeared first on The Motley Fool Australia.

The company said in a statement to the ASX that it had further refined its North America Lithium (NAL) expansion program and had "identified a pathway to stage permitting, construction and capital investment to fast-track additional production with lower unit operating costs''.

Staged process to boost output

The company said it had previously outlined an expansion program which would increase spodumene concentrate production to 315,000 tonnes per year, with construction to be completed by the end of FY29.

The company said further:

The critical path constraint on this schedule was permitting. As such, recent efforts have focussed on determining steps and an approach to reduce this constraint.

The company said it had now identified a project development sequence which provided a shorter timeframe to increased production, and added:

The additional new permitting information, combined with existing permits, provides a pathway to stage the expansion of production volumes at NAL in a disciplined, agile and more time efficient manner.

The company said a series of "debottlenecking" steps would be undertaken, which would reduce the overall timeframe and would be staged over time, reducing the initial upfront capital requirements.

The first step was expected to result in an initial 15% to 20% increase in concentrate production, starting in calendar year 2027.

Downstream milling, flotation and filtration capacity at the mine would then be expanded, bringing the production rate up to 315,000 tonnes per year, with that rate expected to start in early calendar 2028.

The company said:

This staged development strategy is anticipated to bring forward incremental production by approximately two years compared with previous plans, while also spreading capital expenditure over a longer period. Given the low risk, brownfield nature of the proposed expansion, the company plans to provide an updated scoping study in the first part of Q2 CY26. In conjunction with updating the scoping study, the company plans to move directly to detailed engineering to advance the respective debottlenecking steps.

Elevra Managing Director Lucas Dow said the company had taken a disciplined and pragmatic approach to accelerating production at NAL, "and the result is a materially improved development pathway''.

He added:

By leveraging new permitting information received since the scoping study, together with permits already in place, we have identified a staged expansion sequence that removes permitting from the critical path and brings forward incremental production in a low-risk, brownfields setting, while maintaining a clear pathway to 315ktpa of spodumene concentrate.

Elevra Lithium shares hit a new 12-month high of $9.09 on the news before settling back to be 1.5% higher at $8.81.

The company was valued at $1.5 billion at the close of trade on Friday.

The post This lithium company has hit a new 12-month high on expansion news appeared first on The Motley Fool Australia.

Shares in the market's largest pure-play lithium producer, PLS Group Ltd (ASX: PLS) lifted 1.2% to a new 52-week high of $4.89 today.

The IGO Ltd (ASX: IGO) share price rose 2.1% to a 52-week high of $8.95.

Liontown Resources Ltd (ASX: LTR) shares lifted 3.5% to a 52-week high of $2.10.

The Core Lithium Ltd (ASX: CXO) share price rocketed 24% to a two-year high of 36 cents.

Lake Resources NL (ASX: LKE) shares rose 14.3% to a 52-week high of 16 cents.

Elevra Lithium Ltd (ASX: ELV) shares increased 1.9% to a 52-week high of $9.

Galan Lithium Ltd (ASX: GLN) shares rose 5.5% to a 52-week high of 38 cents.

The Delta Lithium Ltd (ASX: DLI) share price lifted 8.5% to a 52-week high of 25.5 cents.

Wildcat Resources Ltd (ASX: WC8) shares rose 10.3% to a 52-week high of 43 cents.

Pmet Resources CDI (ASX: PMT) shares rose 11.3% to a 52-week high of 69 cents.

The Winsome Resources Ltd (ASX: WR1) share price lifted 9.8% to a 52-week high of 56 cents.

Midas Minerals Ltd (ASX: MM1) shares rose 10% to a 52-week high of 66 cents.

Lithium prices have been steadily lifting since mid-2025 and leapt higher overnight.

Let's find out why.

Why are lithium prices rising again?

Trading Economics analysts say lithium prices are on the mend due to higher demand and lower supply worldwide.

The lithium carbonate price rose 3.75% overnight to a 19-month high of US$19,793 per tonne.

The Spodumene Concentrate Index (CIF China) Price lifted 1.69% to US$1,800 per tonne.

The Battery-Grade Lithium Hydroxide price rose 3.6% to US$16,213.76 per tonne.

There is greater demand globally for batteries and power infrastructure amid the green energy transition.

Additionally, sales of electric vehicles (EVs) in China are rising, with EVs outselling traditional cars for the first time last October.

Trading Economics reports that 'new energy vehicles' in China rose 20.6% annually to a record of 1.823 million units in November.

China has pledged to double EV charging capacity to 180 gigawatts by 2027.

Amid higher demand for lithium, China is also seeking to stabilise lithium prices by implementing measures to avoid over-capacity.

Analysts at Trading Economics said:

The Bureau of Natural Resources of Yichun, which includes the lithium mining hub in the Chinese Jiangxi province, stated it would cancel 27 mining permits early next year.

The move was consistent with the earlier suspension of activity in CATL's Jianxiawo lithium mine as the Chinese government aims to reduce capacity in many goods industries to prevent the ongoing race-to-the-bottom that has stirred deflationary pressures.

The post 12 ASX lithium shares rip to 52-week highs appeared first on The Motley Fool Australia.

The BHP Group Ltd (ASX: BHP) share price rose 2.1% to a 52-week high of $45.49 per share.

The Fortescue Ltd (ASX: FMG) share price lifted 3.2% to a 52-week peak of $23.38.

The Rio Tinto Ltd (ASX: RIO) share price increased 2.6% to a 52-week high of $141.13.

Several ASX gold shares also ascended to new highs.

The Evolution Mining Ltd (ASX: EVN) share price rose 4% to an all-time high of $12.63 per share.

Emerald Resources NL (ASX: EMR) shares reached a record $5.71, up 2.9%.

Bellevue Gold Ltd (ASX: BGL) shares lifted 4.3% to a 52-week high of $1.47.

ASX silver share Andean Silver (ASX: ASL) lifted 6.8% to an all-time peak of $2.34.

Some ASX lithium shares also recorded new one-year highs today.

They included Elvira Lithium (ASX: ELV) shares, up 2.9% to $6.67, and Lake Resources NL (ASX: LKE), up 19% to 9.4 cents.

ASX copper share Hot Chili Ltd (ASX: HCH) rose 7.8% to a 52-week high of $1.25.

The S&P/ASX All Ordinaries Index (ASX: XAO) closed 0.1% higher at 8,877.5 points on Thursday.

What's pushing ASX mining shares higher?

Stronger commodity prices are contributing to a surge in mining stocks this month.

Here is a snapshot of the strongest performers.

Macquarie's take on ASX mining shares

Earlier this week, Macquarie released a note on commodities and named its preferred ASX mining shares.

Among the diversified major miners, the broker likes Rio Tinto over BHP, but prefers South32 Ltd (ASX: S32) overall.

The broker has an outperform rating on South32 shares with a 12-month price target of $3.70.

Macquarie has a neutral rating on Rio Tinto and BHP shares with price targets of $130 and $43, respectively.

The broker has an underperform rating on Fortescue shares with a price target of $19.50.

Among the gold miners, Macquarie prefers Newmont Corporation CDI (ASX: NEM) over Northern Star Resources Ltd (ASX: NST).

However, the broker has an outperform rating on both ASX gold shares with price targets of $175 and $34, respectively.

Among ASX lithium shares, the broker prefers lithium and nickel producer IGO Ltd (ASX: IGO).

The broker has an outperform rating on IGO shares with a 12-month price target of $7.50.

It also has an outperform rating on Elvira Lithium with a price target of $7.

The broker is neutral on the largest ASX lithium share, PLS Group Ltd (ASX: PLS), with a price target of $3.80.

Capstone Copper Corp CDI (ASX: CSC) is the broker's preferred ASX copper share.

Macquarie has an outperform rating on Capstone Copper with a share price target of $17.

The post ASX mining shares dominate stocks hitting 52-week highs appeared first on The Motley Fool Australia.

Lithium prices have been trending sharply higher in recent weeks, following a sell-off in late August, which has taken the share prices of Australian producers higher.

Large Chinese mine could restart soon

But the bull run appears to have hit a hiccup in the past couple of days, after Bloomberg reported that CATL was planning to restart production at its mine in Jiangxi Province, where mining was halted in August.

Reports have put the mine's production at about 3% of global lithium production, and CATL has been making progress in recent weeks to have its mining permit at the project reinstated.

The Bloomberg report said unnamed sources had confirmed that the battery maker had formulated a preliminary plan to restart the mine by early December, and had also asked its suppliers and partners to ready themselves in anticipation of production recommencing.

The report said CATL had not responded to requests to comment on the speculation.

Aussie shares bear the brunt

Shares in Australian lithium producers were leading falls among S&P/ASX 200 Index (ASX: XJO) companies on Monday, with the Gina Rinehart-backed Liontown Resources Ltd (ASX: LTR) down 3.4% to $1.42.

Shares in Mineral Resources Ltd (ASX: MIN) were 2.6% lower at $47.55, IGO Ltd (ASX: IGO) was off 2.6% at $6.30, and Pilbara Minerals Ltd (ASX: PLS) shares were 2.3% lower at $3.81.

Reuters was reporting late last week that the CATL news pushed lithium prices quoted on the Guangzhou Futures Exchange sharply lower, down 9% on Friday, after hitting the highest levels since June 2024 the previous day.

New lithium cycle to underpin gains

The team at Macquarie remains bullish on lithium, stating in a research note to clients last week that a new lithium cycle has begun.

As they said in their note to clients:

As highlighted in our September note, we identified early signs of a new lithium cycle, driven by a widening imbalance between supply and demand. This constructive view has been validated by the market over the past two months, evidenced by continued inventory drawdowns and a steady increase in spot spodumene prices.

Macquarie's top picks in the lithium sector were IGO, Elevra Lithium Ltd (ASX: ELV), and Patriot Battery Metals Ltd (ASX: PMT).

Among other shares, it has a neutral rating on Atlantic Lithium Ltd (ASX: A11) and an underperform rating on Liontown.

The post Why are shares in Aussie lithium producers being sold off today? appeared first on The Motley Fool Australia.

Meantime, the S&P/ASX 200 Index (ASX: XJO) is falling heavily, down 1.38% to a four-month low of 8,516.9 points.

Lithium prices are on the rise, with the carbonate price reaching its highest level in 14 months overnight.

Here is what's happening with ASX lithium shares today.

ASX lithium shares up while ASX 200 falls heavily

The Pilbara Minerals Ltd (ASX: PLS) share price rose 5.6% to a new 52-week high of $4.18 this morning.

Lithium and nickel producer IGO Ltd (ASX: IGO) ripped 8.2% to a 52-week peak of $7.35 per share.

The Liontown Resources Ltd (ASX: LTR) share price lifted 7.5% to a 52-week high of $1.57.

Core Lithium Ltd (ASX: CXO) shares are up 4.3% to a 52-week peak of 24 cents.

The Lake Resources NL (ASX: LKE) share price lifted 12.5% to a 52-week high of 6.3 cents.

Galan Lithium Ltd (ASX: GLN) shares are up 10% to a 52-week high of 22 cents.

Elevra Lithium (ASX: ELV) shares rose 10.8% to a 52-week high of $5.86.

Diversified miner Mineral Resources Ltd (ASX: MIN) rose 5.4% to $51.25, not far off the 52-week high of $52.69 it set last week.

Where to next for lithium prices?

ASX lithium shares are rising as demand for lithium to power batteries and new infrastructure increases, and China provides new support to its electric vehicle industry amid higher sales in 2025.

The Spodumene Concentrate Index (CIF China) Price rose 1.79% to US$1,024 per tonne overnight, up more than 20% over the past month.

The Battery-Grade Lithium Hydroxide price rose 1.05% to US$9,606.73, up 5.8% over the past month.

The lithium carbonate price is US$12,120.57 per tonne, up 16.4% over the past month and now at its highest level in 14 months.

Macquarie is bullish on lithium prices and asserts that a new price cycle is underway.

In a new note, the broker says:

Our constructive lithium view has been confirmed; however major lithium equity names are outpacing underlying Li prices.

We see opportunities for spot spodumene price to attain US $1,200-1,300/t early next year, with hurdles for further increases.

We believe CATL restart newsflow presents near-term downside, promoting profit taking; however this may be a longer-term buy-the-dip opportunity.

CATL's Jiangxi mine, which produces 3% of the global lithium supply, is set to recommence production following a brief suspension.

Macquarie has an outperform rating on three ASX lithium shares: IGO, Elevra Lithium, and Pmet Resources CDI (ASX: PMT).

The broker warns that Pilbara Minerals and Mineral Resources shares are trading at above-market implied lithium prices today.

The post ASX lithium shares outperform as ASX 200 tumbles to four-month low appeared first on The Motley Fool Australia.

But not all lithium producers are created equal, which is where it helps to get a bit of insight from the professionals.

New lithium cycle has begun

The team at Macquarie have just released a new Critical Minerals Chronicle, with the cautionary subtitle: Cool heads required in a heating lithium market.

They were bullish on lithium, which is widely used in the production of batteries, and went on to say:

As highlighted in our September note, we identified early signs of a new lithium cycle, driven by a widening imbalance between supply and demand. This constructive view has been validated by the market over the past two months, evidenced by continued inventory drawdowns and a steady increase in spot spodumene prices.

That said, some lithium shares were running a bit too hot, the Macquarie analysts said, with Pilbara Minerals Ltd (ASX: PLS) and Mineral Resources Ltd (ASX: MIN) both trading at implied lithium prices which were higher than current levels.

Macquarie has a neutral rating on Pilbara Minerals and an underperform rating on Mineral Resources.

The shares it rates as outperform in the sector are IGO Limited (ASX: IGO), Elevra Lithium (ASX: ELV) and Patriot Battery Metals Ltd (ASX: PMT).

Among other shares, it has a neutral rating on Atlantic Lithium Ltd (ASX: A11) and an underperform rating on Liontown Resources Ltd (ASX: LTR)

Mine restart possible

One company not covered by the Macquarie research note is Core Lithium Ltd (ASX: CXO), which on Monday hit a new 12-month high of 22 cents.

The company didn't release any news on Monday, but said recently in its quarterly activity report that it was biding its time on a decision to restart operations at its Finnis mine in the Northern Territory, where it currently has a small team maintaining the mine.

The company's chair Greg English recently said:

We are not yet at a point where the board could consider restarting the operation, which I appreciate is a key focus for Core Lithium shareholders. Any decision in this regard remains subject to market conditions and securing an attractive project financing solution in the ongoing strategic process, amongst other factors. As I mentioned, there have been some recent signs of improvement in sentiment towards lithium which we would like to see continue.

The post Macquarie names which lithium stocks to buy, and which to avoid appeared first on The Motley Fool Australia.

This has been influenced by oversupply and changes in the EV sector.

However the team at Macquarie have placed an attractive price target and outperform rating on Elevra Lithium Ltd (ASX: ELV). 

Its share price is rocketing 9% higher today and Macquarie believes the share price can continue to rise in the next 12 months. 

Elevra Lithium engages in the exploration, development, and mining of lithium raw materials.

Its portfolio includes projects in Québec, Canada, United States, Ghana and Western Australia. 

Let's see what's behind the optimistic view. 

Pricing in line – costs beat

The broker noted that the miner reported an average sales price of A$1,198/t (US$784/dmt) in the quarter, in line with MQe and 14% higher QoQ. 

It said cash operating costs of A$1,250/t were 34% lower than its estimates, which was assisted by inventory build. 

ELV boasts strong operating leverage backed by a solid balance sheet. We note the company ended 1QFY26 with a cash balance of A$149m, reflecting an A$69m equity placement and $52m cash from Piedmont following the merger transaction.

The broker said while Elevra Lithium's investment appeal could be distracted by the recent business consolidation, business name and ticker changes, it sees valuation upside in the company. 

As one of the only two notable lithium producers in North America, Elevra Lithium could attract valuation premium given US government's pursuit for critical mineral supply security according to Macquarie.

Attractive price target for ASX lithium stock

Macquarie has an outperform rating on this ASX lithium stock. 

It said it sees the company as a leveraged lithium play supported by its improved balance sheet, offering unique exposure in a upswing lithium market.

It also has a price target of $5.20. 

Based on today's share price of $4.26, this indicates an upside of 22%. 

It's not the only broker with a positive view on the company. 

Bell Potter has a buy rating and $7.35 price target. 

TradingView also has a price target of $7.35 which indicates an upside of more than 70%.

The post Macquarie tips more than 20% upside for this ASX lithium stock appeared first on The Motley Fool Australia.

So much so, the lithium miner's shares are up 33% since this time last month.

As a comparison, the benchmark ASX 200 index is only up 2% over the same period.

Does this make it too late to invest in Liontown? Let's see what analysts at Macquarie Group Ltd (ASX: MQG) are saying ahead of the release of the lithium stock's quarterly update.

What is the broker saying?

Macquarie has been looking ahead to Liontown's quarterly update and believes the company could deliver production ahead of expectations. It said:

Our 1QFY26 production estimates are 4% above VA consensus at 73kt, with FY26 total output of 405kt at the mid-point of 365-450kt guidance.

Macquarie expects this to underpin spodumene sales of 73kt (down 25% quarter on quarter) and be achieved with an all-in sustaining cost (AISC) of $1,543 a tonne (down 1%). It adds:

Quarter on quarter, we forecast 15% decrease in spodumene production which result in a largely flat AISC given continued capital investment underground. We also expect a continued decline in growth capex, down 18% to A$25m in the Sep quarter.

Should you invest?

Unfortunately, Macquarie isn't a buyer of Liontown shares at current levels. In fact, despite forecasting production ahead of consensus estimates, the broker thinks investors should be selling its shares.

According to the note, Macquarie has retained its underperform rating and 65 cents price target.

Based on its current share price of $1.17, this implies potential downside of approximately 44% over the next 12 months.

The broker prefers Elevra Lithium Ltd (ASX: ELV), which is the name of the US-based lithium miner that was formed when Sayona Mining and Piedmont Lithium merged.

The note reveals that Macquarie has a buy rating and $5.50 price target on its shares. This suggests that upside of 17% is possible over the next 12 months based on its current share price of $4.70.

And while Macquarie also has an outperform rating on Pilbara Minerals Ltd (ASX: PLS) shares, its price target of $2.75 offers only modest upside from current levels.

The same could also be said for IGO Ltd (ASX: IGO), which Macquarie is also feeling positive about. It has an outperform rating and $5.75 price target on this battery materials miner's shares. This suggests that upside of under 5% is possible between now and this time next year.

The post  Does Macquarie rate Liontown Resources shares a buy, hold or sell? appeared first on The Motley Fool Australia.

Prices for the critical battery mineral fell 17% over the first six months of the year and indeed had suffered "an almost uninterrupted 24-month slide since mid-calendar year 2023", Macquarie said.

But there are now some green shoots.

"We are observing signposts that could indicate the beginning of another lithium cycle, driven by a growing mismatch between supply and demand,'' Macquarie analysts said.

They also said they believed the market's reaction to the sooner-than-expected restart of major Chinese mine CATL Jianxiawo "may have been overdone".

In addition, we also note several near-term supply challenges in the lithium market, including resource audits for the remaining seven lepidolite mines in Jiangxi, civil unrest and ongoing political tensions in Mali and permitting challenges in Brazil. In the near term, EV (electric vehicle) penetration rates remain strong at 12% in the US, 55% in China, and 31% in Europe as of August.

Local stocks in favour

In terms of Australian lithium producers, Macquarie analysts have an outperform rating on IGO Ltd (ASX: IGO), Pilbara Minerals Ltd (ASX: PLS), Sayona Mining Ltd (ASX: SYA), and PMET Resources (ASX: PMT).

Macquarie has increased its price target for IGO from $5 to $5.50, compared with the current price of $4.91.

The price target for Pilbara Minerals has been upped from $2.20 to $2.30, equal to the current share price.

For Sayona Mining, Macquarie's price target has been lowered from $6 to $5.50, compared with $3.29 currently.

The price target for PMET Resources has been increased from 36 cents to 50 cents, compared with 46.5 cents currently.

Lithium demand to remain strong

Macquarie analysts say in their note to clients that commodity prices are the main risk factor for most of these miners, but they also argue that medium-term demand forces are underappreciated.

They say two factors are not being fully priced in by the market, with BESS (battery energy storage systems) and heavy haul truck demand not being adequately accounted for.

If battery energy storage systems continue their current growth trajectory, lithium consumption could rise substantially, establishing a higher demand base for CY26 and beyond. We believe that the market consensus may not yet fully account for the potential upside in lithium consumption stemming from stronger BESS demand.

And on the truck front, while passenger EVs were currently the biggest driver of demand, accounting for 69% of lithium consumption in CY25, "recent channel checks with industry participants highlight heavy haul truck electrification as an emerging growth area''.

The post Macquarie names its top ASX lithium stock picks appeared first on The Motley Fool Australia.

That's the view of analysts at Macquarie Group Ltd (ASX: MQG), who are bullish on the lithium miner following the completion of the ASX mining stock's merger with Piedmont Lithium.

What is the broker saying about this ASX mining stock?

Macquarie highlights that Sayona Mining has released its brownfield expansion plans for the NAL operation. This has led to the broker updating its production and cost estimates. It said:

SYA has released NAL brownfield expansion plans which will bring forward production and deliver improved costs performance, which was highlighted as a potential positive event in our prior note (link). We have lifted our NAL output estimate to ~280kt per year post FY32E reflecting its planned brownfield expansion project. We have also adjusted our AISC in the medium-to-longer term with our long-term (real) costs at US$698/ t which is ~3% above scoping study guidance of US$681/t.

In the near term, Macquarie was pleased to see that management is guiding to stronger than expected production in FY 2026. It adds:

The company has provided FY26 guidance for the first time with production and shipments both at 195-200kt, which is within 3% of VA consensus (small samples) but 7% above MQe. Unit costs of A$1,175-1,275/t (US$765-830/t) came in 2% ahead of MQ estimates and is largely in line with current spot market price of US$810/t. Capex guidance for FY26 is A$40m.

Big potential returns

According to the note, the broker has retained its outperform rating on the ASX mining stock with a $5.50 price target. This new price target reflects adjustments following the merger transaction and reverse split.

Based on its current share price of $3.12, this implies potential upside of 76% for investors over the next 12 months.

Commenting on its buy recommendation, the broker said:

Outperform: With continued productivity improvements, SYA could reach a break-even cost position assisted by improving lithium market conditions in the near term. The Tranche 1 Options potentially also unlock additional capital for the company to shore up its cash position.

Valuation: Our target price is now at A$5.50ps post the merger transaction and reverse split. Valuation method unchanged with 75/25 blend of NPV & 4.0x EV/EBITDA. Catalysts: Permitting update for NAL brownfield expansion.

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

Dateline Resources Ltd (ASX: DTR)

The Dateline Resources share price is down 11% to 23.5 cents. This follows the completion of a $25 million institutional placement. These funds were raised at a discount of 21.5 cents per share. The gold and REE explorer's managing director, Stephen Baghdadi, commented: "We are encouraged by the strong support from institutional investors, which validates our strategy at the Colosseum Project. Recent geophysical work has outlined six new gold targets with the same MT signature as the known breccia pipes and confirmed high-priority REE anomalies. With $35 million in funds, we are well positioned to accelerate our dual-track development and demonstrate the significant potential value of the Colosseum."

Fortescue Ltd (ASX: FMG)

The Fortescue share price is down 5% to $18.30. The catalyst for this has been the iron ore giant's shares going ex-dividend for its final dividend of FY 2025. When a share goes ex-dividend, it means the rights to the upcoming payment are settled and new buyers will not be eligible to receive it on pay day. As a result, a share price will tend to decline on the ex-dividend date. Last month, Fortescue released its full year results and declared a fully franked 60 cents per share final dividend. This will be paid to eligible shareholders later this month on 26 September.

Jumbo Interactive Ltd (ASX: JIN)

The Jumbo Interactive share price is down almost 6% to $11.51. This also appears to have been driven by the online lottery ticket seller's shares going ex-dividend this morning. Last month, Jumbo declared a fully franked 30.5 cents per share final dividend. It will be paid to eligible shareholders on 16 September.

Sayona Mining Ltd (ASX: SYA)

The Sayona Mining share price is down almost 8% to 2.4 cents. This is despite the lithium miner announcing the completion of its merger with Piedmont Lithium Inc (ASX: PLL) this morning. Commenting on the merger, Sayona Mining's CEO and managing director, Lucas Dow, said: "Today marks a defining milestone in our Company's journey as we complete the merger with Piedmont Lithium. By uniting two complementary businesses, we have created a stronger, globally significant lithium company with the scale, resources, and partnerships to lead in the energy transition."

The post Why Dateline, Fortescue, Jumbo, and Sayona Mining shares are sinking 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 dropping:

Lynas Rare Earths Ltd (ASX: LYC)

The Lynas share price is down 7% to $13.69. This morning, this rare earths producer announced its full year results and the completion of a $750 million placement. The latter saw the company raise funds from institutional investors at a 10% discount of $13.25 per new share. The proceeds from the placement will be used to help accelerate Lynas' growth via its Towards 2030 strategy. Lynas CEO, Amanda Lacaze, said: "This will help us to optimise our performance from the Lynas 2025 capital investments and provide Lynas with the balance sheet strength to capitalise on strategic opportunities in the rapidly evolving rare earths market and consolidate our market leading position."

Mesoblast Ltd (ASX: MSB)

The Mesoblast share price is down 10% to $2.17. Investors have been selling this allogeneic cellular medicines developer's shares following the release of its results. These were the first results since the approval and launch of its Ryoncil product. Mesoblast reported a 191% increase in revenue from cell therapy products to US$17.2 million but still recorded a loss after tax of US$102.1 million.

PEXA Group Ltd (ASX: PXA)

The PEXA share price is down 11% to $15.05. Investors have been selling the property settlement technology company's shares following the release of its FY 2025 results. Group revenue increased 16% to $393.6 million but group NPATA was down 6% to $41.1 million. Things were even worse on a statutory basis, with PEXA recording a net loss of $76.1 million. This was due to the impact of significant items of $78.2 million, primarily arising from impairments as a result of changing market conditions.

Sayona Mining Ltd (ASX: SYA)

The Sayona Mining share price is down 4% to 2.6 cents. This follows the release of the lithium miner's FY 2025 results. Sayona Mining reported an 11% increase in revenue to US$223 million but an underlying EBITDA loss of $67 million. Nevertheless, Sayona Mining's CEO, Lucas Dow, was pleased with the 12 months. He said: "FY25 was a defining year for Sayona, marked by strong operational performance, disciplined cost management, and strategic milestones that have positioned us for the next phase of growth in the global lithium supply chain."

The post Why Lynas, Mesoblast, PEXA, and Sayona Mining shares are tumbling today appeared first on The Motley Fool Australia.