The ASX All Ords hit an all-time high of 9,436.2 points on Friday, the final day of earnings season, and fell 0.13% yesterday.

Today, the market is substantially lower as investors continue to weigh how the US and Israel attack on Iran will affect world order.

Energy is the only sector in the green today as oil and gas prices continue to climb on expectations of disrupted global supply.

Meanwhile, three ASX All Ords shares have hit 52-week lows today.

Are they a buying opportunity, or is it best to steer clear?

Let's defer to the experts.

4 ASX All Ords shares slumping to 52-week lows

HMC Capital Ltd (ASX: HMC)

This ASX All Ords financial share fell to a 52-week low of $2.54 on Tuesday.

That's a 72% deterioration over 12 months, but Morgans sees the upside.

The broker retained its buy rating on HMC Capital shares after reviewing the company's 1H FY26 report.

In a note, Morgans commented:

We still see value in HMC, with our market-to-market NTA at c.$2.30 per share, or c.$3.00 when we factor in our valuation for the listed co-investments (HDN, HCW, DGT), while the c.$60m of recurring funds management EBITDA adds additional value.

Morgans lowered its 12-month price target from $4.85 to $4.45.

Healius Ltd (ASX: HLS)

The Healius share price tumbled to a 52-week trough of 66 cents today.

This ASX All Ords healthcare share has halved in value over the past 12 months.

Morgans reiterated its hold rating after reviewing the pathology services provider's 1H FY26 report.

The broker commented:

While management maintained FY26 earnings in line with consensus and operational discipline is improving, sustainable earnings leverage remains an open question and dependent on execution.

The broker gives the ASX All Ords healthcare share a 12-month target of 80 cents.

DigiCo Infrastructure REIT (ASX: DGT)

This ASX All Ords real estate investment trust (REIT) fell to a 52-week low of $1.93 on Tuesday.

The data centre specialist has lost more than 55% of its value over the past year.

Morgans is optimistic, however, after going over the company's 1H FY26 results.

The broker commented:

DGT continues to trade at a c.50% discount to NAV of A$4.62/security, yet that NAV does not yet reflect the full value of the 88MW SYD1 expansion, which management estimates will deliver a further c.A$1.50/security of NAV uplift at a targeted 15% yield on cost.

Acknowledging the share price weakness, we continue to see the opportunity in DGT, retaining our Buy rating with a $4.15/sh price target.

Beacon Lighting Group Ltd (ASX: BLX)

This ASX All Ords consumer discretionary share reached a 52-week low of $2.02 today.

That's a 41% fall over 12 months.

However, Morgans upgraded Beacon Lighting from accumulate to buy on the back of its 1H FY26 report.

The broker commented:

BLX 1H26 result was weaker than expected, driven by softer sales in both retail and trade, which has tempered expectations of a meaningful recovery in the 2H.

Whilst earnings recovery is likely longer dated, we see long-term opportunity in trade, store network growth, and margin expansion as the cycle turns.

The broker lowered its share price target from $3.80 to $3.20.

The post 4 ASX All Ords shares at 52-week lows. Should you buy? appeared first on The Motley Fool Australia.

Let's see what the broker is saying about the popular ASX shares listed below and whether it thinks there's a buying opportunity here for investors. Here's what it is saying:

HMC Capital Ltd (ASX: HMC)

The broker notes that this diversified investment company's headline earnings were well short of expectations. However, it thinks it is worth sticking with this one.

This is especially the case given its current valuation, which could be cheap according to the broker. As a result, it has retained its buy rating with a trimmed price target of $4.45. It said:

Management fee revenue grew 34% to $84.5m as AUM expanded 4% to $19.5bn, with headline EPS of 10.1c pre-tax softer yoy and well below consensus expectations, as energy transition gains are to fall in 2H26. The KKR Energy Transition partnership, closing mid-26, de-risks the balance sheet and unlocks a 5.7GW development pipeline, with full-year guidance reaffirmed at 40+c pre-tax EPS.

We still see value in HMC, with our market-to-market NTA at c.$2.30 per share, or c.$3.00 when we factor in our valuation for the listed co-investments (HDN, HCW, DGT), while the c.$60m of recurring funds management EBITDA adds additional value. We retain a Buy with a $4.45 price target (down from $4.85).

Ramsay Health Care Ltd (ASX: RHC)

This private hospital operator delivered a profit that was better than expected during the first half. This was driven partly by a solid operational performance.

However, with ongoing cost headwinds, the broker has only retained its hold rating with an improved price target of $40.77. It commented:

1HFY26 underlying net profit exceeded expectations, assisted by lower finance charges and favourable non-controlling interest movements. Operationally, performance was solid, led by improving Australian activity and earnings, while UK acute held its own, Elysium remained soft, but continues its gradual turnaround, and EU is stable on better cost control.

While progress is being made across the portfolio, the sustainability of profitable remains in question, with ongoing cost headwinds, the early stage of a multi-year transformation program in Australia and a largely qualitative FY26 outlook. We adjust FY26-28 earnings, with our price target increasing to A$40.77. Hold.

Sigma Healthcare Ltd (ASX: SIG)

The owner of Chemist Warehouse reported a solid half-year result according to Morgans.

However, due to its current valuation, the broker has downgraded Sigma's shares to an accumulate rating with a $3.36 price target. It said:

SIG posted a solid 1H26, which was in line with consensus. The highlights included solid CW LFL sales growth (up 15%), revenue growth higher than cost growth by 4.5%, and synergy targets on track. We have made modest downgrades to forecasts (D&A and interest charges) resulting in a slight reduction to our target price of A$3.36 (was A$3.39). We move to an ACCUMULATE (was Buy) due to YTD share price strength.

The post Buy, hold, sell: HMC Capital, Ramsay Health Care, and Sigma shares appeared first on The Motley Fool Australia.

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

Here is a sample of the large number of ASX All Ords shares with ex-dividend dates next week.

ASX All Ords shares about to go ex-dividend

Which companies will we hear from today?

The big one today is the half-yearly report from supermarket network Coles Group Ltd (ASX: COL).

Woolworths shares ripped this week after the ASX All Ords consumer staples giant reported a 16% profit lift to $859 million for 1H FY26.

We'll also hear from TPG Telecom Ltd (ASX: TPG), Michael Hill International Ltd (ASX: MHJ), and Pexa Group Ltd (ASX: PXA).

The latest report from The Star Entertainment Group Ltd (ASX: SGR) will also be interesting, as investors seek further news on the turnaround plan for the beleaguered casino operator.

Yesterday, Star Entertainment shares bounced on news of a debt refinancing deal, including extra liquidity to fund the turnaround plan.

The post 35 ASX All Ords shares with ex-dividend dates next week appeared first on The Motley Fool Australia.

Cuscal Ltd (ASX: CCL) and HMC Capital Ltd (ASX: HMC) both released HY26 results yesterday. 

Here's a snapshot of what these ASX financials stocks reported. 

Cuscal

Cuscal is a payment and regulated data services provider in Australia. The group offers a comprehensive suite of payment infrastructure solutions to a diversified client base.

For the six months ended 31 December 2025, the company reported:

• Profit after tax (NPAT) increased by 76% to $21.5 million, compared to $12.2 million in the prior corresponding period
• Completed acquisition of Indue on 1 December 2025, contributing $5.3 million to Net Operating Income
• Transaction volume growth of 9%
• Total Net Operating Income increased 10% to $161.5 million
• Underlying NPAT increased 13% to $24.2 million
• Interim dividend of 4.5 cents per share.

Investors reacted positively to these results, as the ASX financials stock rose 6%. 

Its share price is now up more than 65% over the last year. 

HMC Capital 

HMC Capital is an alternative asset manager which invests in high conviction and scalable real asset strategies.

For the financial half year ended 31 December 2025, the company reported:

• Assets under management (AUM) of $19.5bn (+4% vs. Jun-25)
• 1H FY26 pre-tax operating EPS of 10.1 cents ($41.6m)
• $1.6bn of net tangible assets and undrawn debt
• 1H FY26 dividend of 6.0cps (partially franked)
• Reaffirmed FY26 pre-tax operating EPS target of at least 40 cps. 

Investors were seemingly disappointed with the results, as the share price fell 4.7% on Tuesday. 

HMC Capital shares are now down 71% over the last year, trading near its 52-week low.

Bell Potter's updated outlook

Commenting on Cuscal results, Bell Potter said it delivered a strong result, with the highlight being upgraded guidance for high-single digit transaction volume growth to mid-teen growth.

The key surprise was elevated net interest and good early progress on Indue with an initial contribution. 

The broker has upgraded earnings per share (EPS) +1%/+3%/+4% out to FY28. 

Meanwhile, Bell Potter noted that HMC Capital pre-tax earnings per share (EPS) of 10.1 cents was well below expectations. It was 39% below Bell Potter's estimate and 35% below consensus. 

This was mainly because it received less income from one-off or non-recurring sources.

Bell Potter reduced its FY26–FY28 post-tax EPS forecasts by 6–8%.

Target price adjustments from Bell Potter

Based on this guidance, Bell Potter increased the price target for Cuscal to $5.10 (previously $4.60). 

It retained its buy recommendation. 

From yesterday's closing price of $4.23, this indicates an upside of approximately 20%. 

CCL screens cheap factoring in run-rate cost synergies, remains well capitalised to return capital, assess further acquisitions and is benefitting from strong client performance, structural tailwinds.

Meanwhile, the broker lowered its price target for ASX financials stock HMC capital. 

The broker now has a price target of $3.20 (previously $4.25), along with a hold recommendation. 

From yesterday's closing price of $2.82, this indicates a potential upside of 13.5%. 

The post How does Bell Potter view these ASX financials stocks after earnings season? appeared first on The Motley Fool Australia.

That's because the broker believes that after a period of no dividends, this stock could be positioned to provide a dividend yield of 9% in 2027 and then 10% in 2028.

Which ASX dividend stock?

The stock that Bell Potter is tipping as a buy is Healthco Healthcare and Wellness REIT (ASX: HCW).

It is an externally-managed REIT under parent HMC Capital Ltd (ASX: HMC), which manages around $1.4 billion of healthcare assets. This includes investment in hospitals, aged care, childcare, government, life sciences, and primary care & wellness property assets.

Among its tenant base is a combination of large-scale operators including Healthscope (HSO) and Acurio, as well as the Australian Government, which is the third biggest tenant by gross income.

What is the broker saying?

Its shares have come under significant pressure over the past 12 months due to its exposure to the struggling HSO business.

Commenting on recent developments, the broker said:

All 11 HSO hospitals continue to operate as normal, with 100% of all rent due having been paid, and state-by-state executable lease agreements with alternate operators remains in place as per prior. Incrementally though, HCW now expects upon new leases being struck the terms would include face rents to remain unchanged and incentives would indicatively result in a 10-15% near-term reduction to asset values.

The HSO receiver-led process remains the key determinant in potential pathways head, particularly in regards to UHF equity investment and HCW distribution's recommencing (BPe 1QFY27).

Dividend forecast

Bell Potter doesn't believe there will be any dividends in FY 2026. However, it is expecting them to recommence in FY 2027 with a dividend of 6.3 cents per share. The broker then expects a dividend of 7.5 cents per share in FY 2028.

Based on its current share price of 70 cents, this would mean dividend yields of 9% and 10.7%, respectively, over the two years.

In addition, the broker sees plenty of upside for this ASX dividend stock from current levels. It has a buy rating and 95 cents price target. This suggests that its shares could rise by 36% between now and this time next year.

Commenting on its buy recommendation, the broker said:

No change to our Buy rating. HCW trades at a material -50% discount to NTA which is the widest in our sector coverage, notwithstanding +26bp cap rate expansion at the result (c.+40bps for HSO-tenant assets) and additional detail on potential asset devaluations which implies a higher valuation than the current share price implied.

The post Guess which ASX stock could pay a 9% dividend yield in 2027 appeared first on The Motley Fool Australia.

Four ASX shares that have failed to follow the market higher today are listed below. Here's why they are falling:

Bougainville Copper Ltd (ASX: BOC)

The Bougainville Copper share price is down 3.5% to 79 cents. Investors have been selling this copper stock after it announced the termination of a strategic partnering process with the president of the Autonomous Bougainville Government. This is in relation to the selection of an international mining partner for the redevelopment of the Panguna Mine.

Brainchip Holdings Ltd (ASX: BRN)

The Brainchip share price is down a further 3.5% to 13.5 cents. This semiconductor company's shares have come under significant pressure since the release of another disappointing quarterly update. Brainchip reported cash receipts of just US$0.4 million for the three months ended 31 December, despite entering the commercialisation stage a few years ago. Investors appear to be doubting whether Brainchip realistically has any chance of ever competing with chip developers that spend billions on research and development each year.

Challenger Ltd (ASX: CGF)

The Challenger share price is down 3.5% to $8.60. This follows news that the annuities company is in advanced talks to jointly acquire Pepper Money Ltd (ASX: PPM) with Pepper Group ANZ HoldCo. Challenger believes the potential acquisition would provide long-term access to fixed income assets and support its strategic growth plans. If completed, Challenger would hold no more than 25% of total Pepper Money shares. It seems that the market isn't overly keen on the deal.

HMC Capital Ltd (ASX: HMC)

The HMC Capital share price is down almost 5% to $3.73. This morning, Morgan Stanley retained its equal-weight rating and $3.85 price target on the investment company's shares. Its analysts think that HMC Capital's shares are fair valued at current levels. Though, it is worth noting that other brokers see more value in the company's shares. For example, last month Morgans put a buy rating and $6.60 price target on its shares. Based on its current share price, this implies potential upside of approximately 75% for investors over the next 12 months. Time will tell which broker has made the right call on this one.

The post Why Bougainville Copper, Brainchip, Challenger, and HMC Capital shares are falling today appeared first on The Motley Fool Australia.

The business is a diversified alternative asset manager focused on real estate, private equity, the energy transition and digital infrastructure.

One of the most useful things about a decline of a share price is that it leads to a higher dividend yield.

For example, if a business has a dividend yield of 4% and then the share price drops 10%, the yield becomes 4.4%. A 20% decline leads to a 4.8% yield, and so on.

Let's take a look at what payout and dividend yield the ASX dividend stock could deliver in FY26 and beyond.

Projected passive income

Broker UBS currently forecasts that HMC Capital could continue to deliver an annual payout of 12 cents per share in FY26, as it has done in recent years. That potential payout translates into a forecast dividend yield of 3%, or 4.4% grossed-up if the upcoming payouts are fully franked.

The ASX dividend stock is forecast to provide investors with another year of 12 cents per share in FY27, which would translate into the same yields I mentioned above.

But, the business could see higher dividends in the subsequent years, according to the projection from UBS.

The broker forecasts that the business could pay an annual dividend per share of 13 cents in FY28. That'd be a dividend yield of 3.3% and a possible grossed-up dividend yield of 4.7%, including potential franking credits.

The FY29 payout by the business could be 13 cents per share again, according to UBS. That would translate into the same dividend yields I calculated for FY28.

The best year of all for income-focused investments could be the 2030 financial year, according to the projection from UBS. That would be a possible cash dividend yield of 3.6%, or a grossed-up dividend yield of 5.1%, if it provides fully franked dividends.

Why this could be a good time to invest in the ASX dividend stock

Last week, the business announced it had established a new strategic partnership where KKR managed funds will invest up to $603 million into HMC's energy transition platform.

The investment will support the platform's continued expansion, according to HMC, including the development of new battery storage and wind projects critical to grid reliability and Australia's energy transition.

This deal will be used to repay HMC Capital debt, and the company will charge annual fees of $5 million for the provision of corporate services support. HMC's invested capital in the platform is expected to reduce by approximately $200 million.

I think this is a good step toward rebuilding investor confidence in the business.

UBS has a buy rating on the business, with a price target of $7.14, suggesting sizeable capital growth over the next year from where it is today. Explaining its buy rating on the business (which came before the KKR news), the broker said:

Our Buy rating is based on expectations that risks can be resolved and the platform can continue to grow, albeit at a more modest rate than the recent history. We now assume AUM reaches $28bn in FY29 with only $4.5bn assumed for energy transition (in contrast HMC are still targeting $50bn in 3-5yrs incl. energy transition at $5-10bn). The pushback to this view reflects a scenario where the energy transition assets take time to sell down, limiting the group's ability to execute elsewhere across the platform given capital constraints, and other fund raisings disappoint as historical missteps/risks limit the ability to raise new equity.

Earnings per share (EPS) is expected by UBS to rise from 36 cents in FY26 to 52 cents in FY30, a rise of 44%, which is a positive tailwind for both capital growth and dividend growth.

The post 1 ASX dividend stock down 64% I'd buy right now appeared first on The Motley Fool Australia.

Four ASX shares that have managed to avoid the selloff today are listed below. Here's why they are rising:

Brambles Ltd (ASX: BXB)

The Brambles share price is up almost 2% to $23.13. This is despite there being no news out of the supply chain solutions company on Friday. However, it is possible that some investors see Brambles as a defensive option and a way to avoid the broad market weakness today. Its shares are now up approximately 18% since this time last year.

HMC Capital Ltd (ASX: HMC)

The HMC Capital share price is up 2% to $4.13. Investors have been buying this investment company's shares after it announced a new strategic partnership which will see KKR-managed funds invest up to $603 million into HMC's Energy Transition Platform. Management notes that the investment will introduce KKR as a strategic partner alongside HMC in the platform's existing 652MW operational assets and its significant 5.7GW BESS and wind development pipeline. HMC Capital's managing director and CEO, David Di Pilla, said: "We are delighted to be working with an experienced global investor of KKR's calibre. KKR's investment validates the quality of the Platform we have built and sets the foundation for HMC to play a major role in Australia's transition to net zero carbon by 2050. KKR's capital will enable the Platform to materially grow operating capacity, cash flow and progress the strategically valuable development pipeline."

ResMed Inc. (ASX: RMD)

The ResMed share price is up 2.5% to $38.42. This follows a decent night of trade for the sleep disorder-focused medical device company's NYSE-listed shares on Thursday. One leading broker that would be supportive of this buying is Morgans. Earlier this week, it upgraded ResMed's shares to a buy rating with a $47.73 price target. This implies potential upside of over 20%.

Rio Tinto Ltd (ASX: RIO)

The Rio Tinto share price is up 0.3% to $157.55. Investors have been buying the mining giant's shares after it abandoned its plans to merge with Glencore (LSE: GLEN).  The miner stated: "Rio Tinto is no longer considering a possible merger or other business combination with Glencore plc, as Rio Tinto has determined that it could not reach an agreement that would deliver value to its shareholders." In response, Glencore said: "The key terms of the potential offer were Rio Tinto retaining both the Chairman and Chief Executive Officer roles and delivering a proforma ownership of the combined company which, in our view, significantly undervalued Glencore's underlying relative value contribution to the combined group, even before consideration of a suitable acquisition control premium."

The post Why Brambles, HMC Capital, ResMed, and Rio Tinto shares are rising 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.

If I had $5,000 to invest in January, these are five ASX 300 shares I'd be comfortable backing for the long term across travel, alternative assets, wealth platforms, software, and essential infrastructure.

Flight Centre Travel Group Ltd (ASX: FLT)

Flight Centre is one of the world's largest travel groups, with a global footprint spanning leisure and corporate travel across Australia and New Zealand, the Americas, EMEA, and Asia. What I think makes the investment case compelling heading into the new year is how clearly management has articulated its long-term ambition.

Under its Destination 2035 strategy, Flight Centre aims to become the world's largest and most successful corporate travel company, operating in more than 50 countries. Corporate travel is higher margin, more recurring, and structurally attractive compared to pure leisure travel. Combined with Flight Centre's scale, global reach, increased focus on the cruise market, and reinvestment culture, this creates a powerful long-term growth opportunity.

After several volatile years for the travel sector, I believe Flight Centre enters January as a business rebuilding from a position of strength rather than speculation.

HMC Capital Ltd (ASX: HMC)

HMC Capital is a diversified alternative asset manager with exposure to real estate, private equity, energy transition, digital infrastructure, and private credit. It manages approximately $18.7 billion for institutional, high-net-worth, and retail investors.

What differentiates HMC Capital is its ability to execute large, complex transactions, which is something few Australian managers can do consistently. This execution capability has underpinned its rapid funds under management growth and strong track record of generating outsized returns.

As demand for alternative assets continues to grow globally, I see HMC Capital as a business well-positioned to benefit from long-term structural trends rather than short-term market cycles.

SiteMinder Ltd (ASX: SDR)

SiteMinder provides mission-critical software to more than 50,000 hotels globally, helping them manage bookings, pricing, and distribution across millions of rooms. As travel continues to normalise and digitisation accelerates, I believe tools like SiteMinder's are becoming essential rather than optional.

While profitability is still maturing, the business has a strong balance sheet and a long runway for growth as it scales internationally. For January, I see SiteMinder as a higher-growth complement to more established names, one that could benefit meaningfully if its execution continues to improve.

HUB24 Ltd (ASX: HUB)

HUB24 is one of the ASX's standouts in wealth management. Its platform sits at the centre of the adviser–client relationship, benefiting from structural tailwinds such as an ageing population, increasing superannuation complexity, and growing demand for professional advice.

The key attraction for me is operating leverage. As funds under administration grow, revenue tends to scale faster than costs, allowing margins to expand over time. HUB24 has also built a broader ecosystem of complementary technology businesses, deepening adviser relationships, and increasing switching costs.

It's not cheap, but high-quality platforms rarely are. Pullbacks often create opportunities to accumulate businesses like this gradually.

Telstra Group Ltd (ASX: TLS)

Telstra plays an important role in Australia's digital infrastructure. Customer needs for connectivity are becoming increasingly sophisticated, with reliability, latency, security, and uplink capacity becoming increasingly critical across various segments.

The company is investing in what appears to be a multi-year digital infrastructure super cycle, driven by surging data demand and the rise of AI-enabled services. Telstra's ambition to be Australia's number one connectivity provider, and to move from selling bandwidth to selling value, positions it well for this shift.

While not a high-growth stock, Telstra offers stability, cash generation, and relevance in a future where everything depends on connectivity.

The post I would invest $5,000 in these ASX 300 shares in January appeared first on The Motley Fool Australia.

The All Ords outperformed the benchmark S&P/ASX 200 Index (ASX: XJO), which rose 6.8% and produced a total return of 10.32%.

As always, there were losers in the pack, and here we reveal the five worst ASX All Ords shares for price growth.

It's interesting to note that some brokers see four of these stocks potentially turning around in the new year.

We include their assessments here.

5 ASX All Ords shares that fell off a cliff in 2025

All five of these ASX All Ords shares lost more than half their value last year.

1. Nuix Ltd (ASX: NXL)

This ASX All Ords tech share tumbled 72% to close out 2025 at $1.80.

Nuix is an investigative analytics and intelligence software provider.

For FY25, Nuix reported an 8% increase in annualised contract value (ACV) to $228.4 million but a loss after tax of $9.2 million.

That was largely due to a significant increase in the expensed proportion of research and development (R&D) spending, plus elevated net non-operational legal costs and restructuring costs.

In a trading update in November, Nuix issued FY26 ACV guidance in the range of $240 million to $260 million.

Moelis Australia has a buy rating on Nuix shares with a 12-month price target of $3.37.

In a note, Moelis said Nuix stock "seems oversold", commenting:

Nuix's share price has retraced significantly as recent operating performance fell below market expectations.

On our estimates the current price undervalues the company.

2. Myer Holdings Ltd (ASX: MYR)

This ASX All Ords retail share fell 61% to 48 cents on 31 December.

FY25 was a shocker for the company, which booked an underlying net profit of $37 million, down 30% on FY24.

The retailer also reported a statutory net loss of $211 million due to the write-down of goodwill for the new division, Myer Apparel Brands.

Myer shares did not pay a final dividend.

Morgan Stanley equity analyst Julia de Sterke sees a turnaround opportunity from the Apparel Brands' integration and other factors.

The broker has a buy rating on Myer shares with a target of 69 cents.

3. HMC Capital Ltd (ASX: HMC)

HMC Capital shares tanked in 2025, falling 60% to $3.96 apiece.

This was despite the diversified investment company reporting strong profit growth in FY25.

FY25 pre-tax operating earnings was $224.6 million, up 74%, and pre-tax operating earnings per share (EPS) was 56 cents, up 51%.

HMC Managing Director and CEO, David Di Pilla, described FY25 as "a landmark year" and said:

This growth highlights the scalability of our business model and the strength of our diversified platform spanning real estate, private equity, private credit, digital infrastructure and energy transition.

Each of these verticals is now generating meaningful earnings while also providing strong optionality for future expansion.

Morgans has a buy rating and $4.85 price target on HMC Capital shares.

In a note, the broker said: 

The current price essentially implies that HMC is ex-growth with a questionable NTA – a view we do not share.

So, whilst re-rating of the stock remains contingent on these elements coming to fruition, we believe it to be highly achievable over the next 12 months.

4. Accent Group Ltd (ASX: AX1)

Like Myer, ASX All Ords shoe retailer Accent experienced a big share price fall in 2025.

Accent shares dropped 60% to close the year at 95 cents.

Accent owns several brands, including The Athlete's Foot, Hoka, HypeDC, Platypus, Vans, and Skechers.

For FY25, Accent reported a net profit after tax (NPAT) of $57.7 million, down 3% on FY24.

The final dividend was 1.5 cents per share, down 67% on the previous year's final dividend.

However, a positive trading update in November has brokers seeing a buying opportunity for 2026.

Goldman Sachs reiterated its buy rating on Accent shares but cut its 12-month target from $1.70 to $1.20.

5. Coronado Global Resources Inc (ASX: CRN)

This ASX All Ords coal share fell 58% over the year to finish at 32 cents on 31 December.

A persistently low metallurgical coal price was a headwind for Coronado last year.

The miner reported a realised price of US$145.10 per tonne in the third quarter of 2025, down 30% year over year.

However, the miner said its 3Q saleable production was 21% higher than for the previous quarter at 4.5 million tonnes, which was the best result since 2021.

Managing director Douglas Thompson expects an even better 4Q result due to project expansion and cost reductions.

The third quarter was the second in a row in which unit production costs came in below guidance.

In the month of September, the unit cost was US$80 per tonne.

Brokers are yet to be convinced, with many giving this ASX All Ords mining share a hold or sell rating.

Last month, UBS reiterated its sell rating but lifted its 12-month target from 19 cents to 25 cents.

The post 5 worst ASX All Ords shares of 2025, and why brokers rate 4 of them a buy appeared first on The Motley Fool Australia.

Unfortunately, not all shares climbed with the market.

For example, the ASX 200 shares listed below were well and truly out of form and sank deep into the red. Here's why they were the worst performers in 2025:

HMC Capital Ltd (ASX: HMC)

The HMC share price was the worst performer on the ASX 200 in 2025 with a 60% decline. This was despite the diversified investment company delivering strong profit growth in FY 2025. The team at Morgans is likely to see this as a buying opportunity. It has a buy rating and $4.85 price target on its shares. It said: "The current price essentially implies that HMC is ex-growth with a questionable NTA – a view we do not share. So, whilst re-rating of the stock remains contingent on these elements coming to fruition, we believe it to be highly achievable over the next 12 months."

Telix Pharmaceuticals Ltd (ASX: TLX)

The Telix Pharmaceuticals share price wasn't far behind with a decline of almost 55%. The catalyst for this was the radiopharmaceuticals company revealing that it received a Complete Response Letter (CRL) from the US Food and Drug Administration (FDA) for TLX250-CDx. It is an investigational PET2 agent for the diagnosis and characterisation of renal masses as clear cell renal cell carcinoma (ccRCC). Telix confirmed that the "CRL identifies deficiencies relating to the Chemistry, Manufacturing, and Controls (CMC) package. The FDA has requested additional data to establish comparability between the drug product used in the ZIRCON Phase 3 clinical trial and the scaled-up manufacturing process intended for commercial use." This has created doubts about future developments and also led to consensus downgrades.

IDP Education Ltd (ASX: IEL)

The IDP Education share price was out of form and crashed 54% in 2025. Investors sold off this language testing and student placement company's shares after the release of a market update. IDP Education revealed that its key destination markets continue to be impacted by policy uncertainty, which is negatively impacting the size of the international student market globally.

Treasury Wine Estates Ltd (ASX: TWE)

The Treasury Wine share price was sold off and dropped 53% over the period. Investors were selling the struggling wine giant's shares after it revealed that trading conditions worsened and its performance was below expectations. The company's new CEO, Sam Fischer, said: "We are currently experiencing category weakness in the US and China, two of our key growth markets, which will impact our business performance in the near-term. Maintaining the strength of our brands and the health of their respective sales channels is of critical importance to our Management team and our Board as we navigate through the current environment." 

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Four ASX shares that have failed to follow the market higher today are listed below. Here's why they are falling:

Domino's Pizza Enterprises Ltd (ASX: DMP)

The Domino's share price is down almost 2% to $21.71. This may have been driven by a broker note out of Citi. According to the note, the broker has downgraded the pizza chain operator's shares to a sell rating with a $19.85 price target. The broker has concerns over the company's operations in France and Japan. And given recent share price strength, it feels the risk is to the downside now for investors.

HMC Capital Ltd (ASX: HMC)

The HMC Capital share price is down 3.5% to $3.83. This morning, this alternative investment company's shares were officially kicked out of the ASX 200 index following the quarterly rebalance. This means that certain index funds need to sell shares to reflect the changes. In addition, some fund managers have mandates that mean they can only invest in shares that are part of indices like the ASX 200 index. It is possible that they could be hitting the sell button and moving onto other options now the rebalance has taken place.

Regis Healthcare Ltd (ASX: REG)

The Regis Healthcare share price is down 2.5% to $7.14. Investors have been selling this aged care operator's shares following the surprise resignation of its CEO. Dr Linda Mellors has announced her resignation after more than six years in the role. The company revealed that Mellors has decided to pursue a career opportunity in an unrelated sector. She has a six month notice period to serve. Regis' chair, Graham Hodges, said: "Linda leaves the business in a strong financial and operating position and with a capable and experienced executive team. We wish her every success in the next chapter of her career."

WiseTech Global Ltd (ASX: WTC)

The WiseTech Global share price is down 4% to $67.29. On Friday, the logistics solutions technology company revealed that its founder, Richard White, has entered into a collar derivative transaction and related financing facility with Macquarie Group Ltd (ASX: MQG) in respect of 20 million WiseTech shares. This was the equivalent of 6% of its issued shares and had a market value of approximately $1.4 billion at Friday's close. The company notes that this may "be legally characterized for the purposes of section 707 of the Corporations Act as a sale."

The post Why Domino's, HMC Capital, Regis Healthcare, and WiseTech shares are falling today appeared first on The Motley Fool Australia.

Will the market be able to build on this on Monday? Here are five things to watch:

ASX 200 expected to rise again

The Australian share market looks set for a good start to the week following a strong finish to the last one on Wall Street on Friday. According to the latest SPI futures, the ASX 200 is expected to open the day 41 points or 0.45% higher. In the United States, the Dow Jones was up 0.4%, the S&P 500 rose 0.9%, and the Nasdaq stormed 1.3% higher.

Oil prices charge higher

It could be a decent start to the week for ASX 200 energy shares Santos Ltd (ASX: STO) and Woodside Energy Group Ltd (ASX: WDS) after oil prices charged higher on Friday night. According to Bloomberg, the WTI crude oil price was up 0.9% to US$56.52 a barrel and the Brent crude oil price was up 1.1% to US$60.47 a barrel. Traders were bidding oil prices higher after Donald Trump wouldn't rule out a war with Venezuela.

Quarterly rebalance

This morning, a number of ASX 200 shares will leave the benchmark index after being kicked out at the quarterly rebalance. Leaving the index this morning are the likes of Bapcor Ltd (ASX: BAP), HMC Capital Ltd (ASX: HMC) and Corporate Travel Management Ltd (ASX: CTD). Joining the index this morning are stocks including Aussie Broadband Ltd (ASX: ABB), Resolute Mining Ltd (ASX: RSG), and Silex Systems Ltd (ASX: SLX).

Gold price rises

ASX 200 gold shares Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) could have a good start to the week after the gold price pushed higher on Friday night. According to CNBC, the gold futures price was up 0.5% to US$4,387.3 an ounce. Rate cut optimism gave the gold price a boost.

Buy Boss Energy shares

Bell Potter thinks that investors should be buying Boss Energy Ltd (ASX: BOE) shares after their sell off. This morning, the broker has reaffirmed their buy rating on the uranium producer's shares with a reduced price target of $2.00 (from $2.90). It said: "Our valuation assumes production at Honeymoon over the short 10Y mine life is limited to ~1.6Mlbs pa and costs remain elevated, until such a time that management have completed the work to guide otherwise."

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Corporate Travel Management shares have been suspended since 26 August after the company revealed accounting irregularities in its UK operations.

Auditors have since discovered incorrect revenue recognition of GBP 45.4 million and other irregularities.

S&P Dow Jones Indices announced its next quarterly rebalance, effective 22 December, after the market close on Friday.

Car parts retailer Bapcor Ltd (ASX: BAP) and poultry producer and food processor Inghams Group Ltd (ASX: ING) will also drop out.

Alternative asset and property fund manager, HMC Capital Ltd (ASX: HMC) will also go.

Intellectual property services firm, IPH Ltd (ASX: IPH), rounds out the list of ASX 200 departees.

You can find out which shares will enter the ASX 200 index on 22 December here.

What is an index rebalance?

Every three months, S&P Dow Jones Indices reviews and updates Australia's leading market indices.

Rebalances ensure the indices accurately rank the nation's largest listed organisations by market capitalisation.

Indices provide a consistent way to measure and monitor the market's performance over the long term.

The ASX 200 is the benchmark index for the Australian share market.

However, other indices, like the S&P/ASX All Ordinaries Index (ASX: XAO) and S&P/ASX 300 Index (ASX: XKO), are also very important.

Why is it bad for these ASX 200 shares?

Membership in the ASX 200 indicates a company's strong market standing.

Being dropped in a rebalance can signal potential problems, market headwinds, or a declining stock valuation.

As shown below, all six of these ASX 200 shares have fallen over the past year (except the frozen Corporate Travel Management shares).

Leaving the ASX 200 can have tangible effects on a share's price. This is because it triggers passive investment exits.

Many exchange-traded funds (ETFs) and managed funds are designed to track the performance of the ASX 200.

This means that every quarter, fund managers must buy the shares that enter the ASX 200 and sell those that leave.

This can result in extra trading activity around the rebalance date, which may influence a share's value.

Rebalances have greater significance than ever before due to the rising popularity of ASX ETFs.

The latest Betashares data shows Australians ploughed a record $5.99 billion into ASX ETFs in October.

A record $321.7 billion is now invested in more than 400 ETFs on the market today.

ASX ETFs are a passive, diversified investment option that many investors perceive as convenient and lower risk.

They are a basket of shares that investors can buy in one trade for one brokerage fee, with low ongoing management fees thereafter.

The post Corporate Travel Management and Boss Energy shares dumped from ASX 200 appeared first on The Motley Fool Australia.

Will the market be able to bounce back from this on Monday? Here are five things to watch:

ASX 200 expected to fall

The Australian share market looks set for a poor start to the week despite a decent finish to the last one on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 13 points or 0.15% lower. In the United States, the Dow Jones was up 0.2%, the S&P 500 rose 0.2%, and the Nasdaq pushed 0.3% higher.

Oil prices rise

It could be a decent start to the week for ASX 200 energy shares Santos Ltd (ASX: STO) and Woodside Energy Group Ltd (ASX: WDS) after oil prices pushed higher on Friday night. According to Bloomberg, the WTI crude oil price was up 0.7% to US$60.08 a barrel and the Brent crude oil price was up 0.8% to US$63.75 a barrel. Stalling Russia and Ukraine peace talks gave prices a boost. Though, over the weekend, the US claims that progress was made.

Quarterly rebalance

A number of ASX 200 shares will be on watch today after being kicked out of the benchmark index at the December quarterly rebalance. Leaving the ASX 200 index on 22 December are Bapcor Ltd (ASX: BAP), Boss Energy Ltd (ASX: BOE), Corporate Travel Management Ltd (ASX: CTD), HMC Capital Ltd (ASX: HMC), Inghams Group Ltd (ASX: ING), and IPH Ltd (ASX: IPH).

Gold price flat

ASX 200 gold shares Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) will be on watch after the gold price traded flat on Friday night. According to CNBC, the gold futures price was steady at US$4,243 an ounce. However, the precious metal had a good week, driven by expectations that the US Federal Reserve will cut interest rates this month.

Buy Catalyst Metals shares

Bell Potter thinks that Catalyst Metals Ltd (ASX: CYL) shares are in the buy zone right now. This morning, the broker has retained its buy rating on the gold miner's shares with an improved price target of $9.30. It said: "We view CYL as derisking the Plutonic gold hub with a clear line of sight to a 200kozpa steady state (FY29). Execution on the plan (five mines feeding an underutilised 1.8Mtpa plant) and Reserve growth towards >2Moz are viewed as the key drivers of multiple re- ratings and margin expansion."

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