Despite yesterday's green day breaking a six-day losing run, the pessimists were back in charge once more this Friday, with the index opening lower and staying in red territory all session. By the time trading wrapped up, the ASX 200 had lost 0.27%. That leaves the index at 9,058.9 points as we head into the weekend.

This rough end to the trading week for the local markets came after an even bleaker night across the Pacific on Wall Street.

The Dow Jones Industrial Average Index (DJX: .DJI) was hit hard, dropping a hefty 1.32%

The tech-heavy Nasdaq Composite Index (NASDAQ: .IXIC) did a little better than that, but still lost a flat 1% of its value.

But let's get back to ASX shares now and examine how this Friday's negativity spilled over into the different ASX sectors.

Winners and losers

Despite the market's retreat this session, there were still a few sectors that made hay.

But first, it was real estate investment trusts (REITs) that were first to the torch. The S&P/ASX 200 A-REIT Index (ASX: XPJ) was thumped today, cratering by 2.4%.

Consumer discretionary shares were slammed as well, with the S&P/ASX 200 Consumer Discretionary Index (ASX: XDJ) tanking 1.82%.

Healthcare stocks weren't popular either. The S&P/ASX 200 Healthcare Index (ASX: XHJ) took a 1.79% plunge this Friday.

Tech shares also had a day to forget, evidenced by the S&P/ASX 200 Information Technology Index (ASX: XIJ)'s 1.36% dive.

Consumer staples stocks were no safe haven. The S&P/ASX 200 Consumer Staples Index (ASX: XSJ) shrank by 0.42%.

Our last losers today were industrial shares, with the S&P/ASX 200 Industrials Index (ASX: XNJ) slipping 0.03%.

Turning to the winners now, it was gold stocks that shone the brightest. The All Ordinaries Gold Index (ASX: XGD) recorded another 1.41% jump this session.

Communications shares were a little tamer, illustrated by the S&P/ASX 200 Communication Services Index (ASX: XTJ)'s 0.32% lift.

Energy stocks were dead even with that. The S&P/ASX 200 Energy Index (ASX: XEJ) also added 0.32% to its total.

In a rare three-way tie, utilities shares matched that figure too, with the S&P/ASX 200 Utilities Index (ASX: XUJ) advancing 0.32% as well.

Financial stocks stayed on investors' good side too. The S&P/ASX 200 Financials Index (ASX: XFJ) ended up climbing 0.23% today.

Finally, mining shares managed to record a small rise, as you can see by the S&P/ASX 200 Materials Index (ASX: XMJ)'s 0.17% bump.

Top 10 ASX 200 shares countdown

It was NRW Holdings Ltd (ASX: NWH) that topped the index chart this Friday. NRW shares roared 8.04% higher to close the week at $8.20 each.

There wasn't any news out from the company today, but NRW did drop its earnings yesterday, which still seems to be exciting investors.

Here's the rest of today's best:

Enjoy the weekend!

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

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

This rather woeful Wednesday for the local markets followed a similarly downbeat night up on Wall Street.

The Dow Jones Industrial Average Index (DJX: .DJI) was in a foul mood, dropping 0.34%.

The tech-heavy Nasdaq Composite Index (NASDAQ: .IXIC) was even more cross, falling 0.6%.

But let's get back to the Australian boards now and dive a little deeper into how the various ASX sectors handled this hump day's tough trading conditions.

Winners and losers

There were only a few sectors that escaped today's session intact.

But first, it was real estate investment trusts (REITs) that bore the brunt of investors' displeasure. The S&P/ASX 200 A-REIT Index (ASX: XPJ) took a 1.02% plunge this Wednesday.

Consumer discretionary stocks were on the nose as well, with the S&P/ASX 200 Consumer Discretionary Index (ASX: XDJ) tanking 0.81%.

We could say the same for communications shares. The S&P/ASX 200 Communication Services Index (ASX: XTJ) cratered 0.79%.

Consumer staples stocks were in that ballpark as well, illustrated by the S&P/ASX 200 Consumer Staples Index (ASX: XSJ)'s 0.76% dive.

Next came industrial stocks. The S&P/ASX 200 Industrials Index (ASX: XNJ) sank 0.67% this session.

Financial shares didn't get a break either, with the S&P/ASX 200 Financials Index (ASX: XFJ) tumbling 0.59%.

Energy stocks weren't riding to the rescue. The S&P/ASX 200 Energy Index (ASX: XEJ) dipped down 0.42% today.

Nor were mining shares, as you can see from the S&P/ASX 200 Materials Index (ASX: XMJ)'s 0.19% slide.

Our last losers were healthcare stocks. The S&P/ASX 200 Healthcare Index (ASX: XHJ) was sent down 0.09% this Wednesday.

Let's turn to the winners now. Leading the charge were utilities shares, with the S&P/ASX 200 Utilities Index (ASX: XUJ) galloping 2.54% higher.

Gold stocks were a safe haven too. The All Ordinaries Gold Index (ASX: XGD) jumped 0.3% today.

Finally, tech shares held up well, evident by the S&P/ASX 200 Information Technology Index (ASX: XIJ)'s 0.16% advance.

Top 10 ASX 200 shares countdown

Codan Ltd (ASX: CDA) was our winner this Wednesday. Codan shares enjoyed a big surge in demand today, shooting 9.3% higher to $44.54 a share by close.

There wasn't any price-sensitive news out from the company today, although perhaps investors got some inspiration from a presentation released this morning.

Here's how the other winners landed their planes: 

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

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

I've selected three research reports recently issued by the team at Macquarie, profiling companies they think are undervalued at current levels.

Let's see who they like.

Viva Energy Ltd (ASX: VEA)

Viva this week said in a statement to the ASX that the refining margin at its Geelong oil refinery was up 156.4% over the same period last year, while volumes added 1.5% over the period.

This would likely translate into a boost in first-half EBITDA from $305 million last year to $770 to $780 million for the first half this year, the company said.

Viva Chief Executive Officer Scott Wyatt said:

Our strong financial results reflect a substantially improved refining margin environment which has been driven by a regional shortage of oil supply and refining capacity, as well as improving retail sales growth and continuing strength of our commercial businesses. Domestic refining has reduced dependency on international refineries and will continue to play a critical role in maintaining fuel supply security into the future.

Macquarie increased its price target for the company on the back of the strong expected results, with the price target now $3.70, up 9%.

Viva shares are currently priced at $2.71.

IGO Ltd (ASX: IGO)

IGO this week reported that its Greenbushes lithium operation had improved its production over the quarter from 351,000 tonnes of concentrate to 387,000 tonnes.

Underlying EBITDA was $118 million for the quarter, down $1 million from the previous quarter.

Managing director Ivan Vella said:

IGO finished FY26 with strong operational momentum across key parts of the business, improved Group safety performance and a stronger cash position. Greenbushes also delivered a stronger final quarter, with improved production, stronger realised pricing and an 80% EBITDA margin. The stronger final quarter resulted in FY26 production and costs finishing toward the top end of revised guidance, while the recommencement of cash flow through Windfield reinforces the quality of this world-class asset and the future potential from the value optimisation work underway.

Macquarie said IGO's production beat consensus estimates by 5%, despite a fire at one of the company's operations.

They added that the company has enough cash on hand to consider paying a 3 to 7 cent final dividend.

Macquarie has a price target of $10.50 for IGO, compared to $6.89 currently.

Bannerman Energy Ltd (ASX: BMN)

Bannerman recently gave an update on its Etango uranium project in Namibia, saying 92% of earthworks were complete, with the project currently on schedule and on budget.

Macquarie said the company has "materially derisked" the project via its joint venture with Chinese company CNNC.

Macquarie has a price target of $5 on Bannerman compared to $2.97 currently.

The post Macquarie tips these 3 ASX stocks to return better than 45% appeared first on The Motley Fool Australia.

And all three are solidly outpacing the 0.4% losses posted by the S&P/ASX 200 Index (ASX: XJO) as we head into the lunch hour.

Here's what's catching ASX investor interest.

Web Travel shares leap on positive guidance

Web Travel shares are topping the charts today, up 12.6% and trading for $3.17 each.

While that leaves shares in the ASX 200 travel stock down 31.6% over 12 months, shares have now rocketed 37.7% since last Monday, 20 July.

Today, investors are responding positively to the company's first-half FY 2027 guidance update and share buyback news.

The company forecasts its WebBeds business to deliver an 11% to 15% year-on-year increase in H1 revenue (in euros).

And management expects H1 underlying earnings before interest, taxes, depreciation and amortisation (EBITDA) in the range of AU$80 million and AU$86 million.

"Our WebBeds business continues to deliver TTV growth with enhanced margin," managing director John Guscic said.

Web Travel shares also look to be getting a lift from the company announcing an on-market buyback of up to $90 million worth of shares.

Iluka shares jump on H1 results

Joining Web Travel shares in turning heads today, Iluka Resources released its first-half (H1 2026) results this morning.

Shares in the ASX 200 rare earths miner are up 5% on the heels of those results, changing hands for $6.12 apiece.

Iluka shares are outperforming despite the miner reporting a 22.4% year-on-year decline in mineral sands revenue to $433 million.

Unaudited underlying mineral sands EBITDA for H1 came in at around $40 million.

Which brings us to…

IGO shares lift on revenue boost

Like Iluka and Web Travel shares, the IGO share price is outperforming today.

At the time of writing, shares in the ASX 200 mining stock are up 1.8% at $6.87 apiece.

This follows the release of IGO's fourth-quarter update (Q4 FY 2026).

Highlights for the three months included an 18% quarter-over-quarter increase in sales revenue to $141 million.

And on the lithium front, IGO reported a 10% increase in spodumene production from Greenbushes to 387,000 tonnes.

"IGO finished FY26 with strong operational momentum across key parts of the business, improved Group safety performance and a stronger cash position," IGO CEO Ivan Vella said.

"Greenbushes also delivered a stronger final quarter, with improved production, stronger realised pricing and an 80% EBITDA margin," he added.

The post Why is everyone talking about IGO, Iluka Resources and Web Travel shares on Tuesday? appeared first on The Motley Fool Australia.

What did IGO Ltd report?

• Group sales revenue up 18% quarter-on-quarter to $141 million
• Group underlying EBITDA of $118 million for 4Q26
• Share of Tianqi Lithium Energy Australia (TLEA) net profit up 38% to $121 million
• Net cash increased by 18% to $387 million at quarter's end
• Nova produced 15,304 tonnes of nickel at cash costs of $4.74/lb in FY26
• Greenbushes spodumene production up 10% to 387kt for the quarter

What else do investors need to know?

IGO delivered strong operational performance at Nova and Greenbushes, with Nova finishing ahead of life-of-mine production guidance and below cost expectations. The company also announced the divestment of Nova to Global Lithium, effective after mining concludes in the December 2026 quarter, as part of efforts to simplify and focus its portfolio.

Kwinana's lithium hydroxide production was affected by a major planned shutdown, resulting in production of 897 tonnes—15% of nameplate capacity—and a higher conversion cost of $40,670 per tonne. Another shutdown is planned for July/August to commission an off-gas treatment system, which will reduce production in the September quarter.

Greenbushes posted an 80% EBITDA margin for the quarter, while production at the CGP3 plant is expected to restart soon after a June fire.

What did IGO Ltd management say?

Ivan Vella, Managing Director and CEO of IGO, said:

IGO finished FY26 with strong operational momentum across key parts of the business, improved Group safety performance and a stronger cash position.

What's next for IGO Ltd?

IGO is targeting a more streamlined copper and lithium portfolio, with portfolio changes such as the Forrestania and Nova divestments reflecting disciplined management. The company remains focused on unlocking value at Cosmos, rationalising exploration tenure, and advancing its proprietary BioHeap sulphide leaching technology.

For FY27, IGO has set guidance for Greenbushes spodumene production at 1,550–1,750 kt, Nova nickel production at 19,000–20,000 tonnes (to December 2026), and Kwinana lithium hydroxide output at 9,000–11,000 tonnes. Exploration and technical development remain priorities to support future growth.

IGO Ltd share price snapshot

The IGO Ltd share price has been a strong performer over the last 12 months, rising 35% thanks to higher lithium prices. This compares to a 1.4% gain by the S&P/ASX 200 index (ASX: XJO).

View Original Announcement

The post IGO Ltd share price: Q4 results show sales growth, strong cash position appeared first on The Motley Fool Australia.

ASX lithium shares in focus

Three major broking houses in Morgans, UBS, and Macquarie have issued research notes on the lithium sector this week, with UBS saying they expect Australian lithium companies to generate strong cash flow over the June quarter, "as stronger realised lithium prices drive robust margins''.

They added:

With lithium prices recovering sharply since mid-CY25, producers have moved quickly to revisit and accelerate growth initiatives, although we believe the market is underestimating the capital required to deliver the next expansion phase. Concerns build around rising battery inventories, weak China NEV sales, an accelerating / uncertain supply response, though we continue to believe the market fundamentals remain strong and remain overweight lithium.

Macquarie notes that there remains limited visibility of the expansion of the major Chinese producer Jianxiawo and, therefore, its effect on the market.

Macquarie said they see significant uncertainty around the supply and demand outlook for CY27.

They added:

While future supply additions are highly visible, we believe the market may be underestimating project delays, commissioning risks and ramp-up challenges.

Which ASX lithium shares do the experts like?

Macquarie's top pick in the sector is IGO Ltd (ASX: IGO), with a price target of $10.50.

Other companies it had assigned an outperform rating to include PLS Group Ltd (ASX: PLS), PMET Ltd (ASX: PMT), Elevra Lithium Ltd (ASX: ELV), Liontown Resources Ltd (ASX: LTR), Wildcat Resources Ltd (ASX: WC8), and Global Lithium Ltd (ASX: GL1).

In contrast, Morgans has a hold recommendation on PLS shares, preferring Liontown Resources, which it has an accumulate rating on and a price target of $1.70 on, compared to $1.36 currently.

Morgans also has an accumulate rating on Mineral Resources Ltd (ASX: MIN), with a $68 price target compared to $56.65 currently.

UBS also has a neutral rating on PLS shares, and buys on IGO, Liontown, PMET, and Elevra.

Morgans noted that the recent pullback in lithium prices was likely a short-term correction.

They added:

We see this recent sell-off as the market pricing in a step-change in near-term supply, not an expectation that the commodity is going to experience a severe sell off and enter another downcycle. Rather, we think investors have concluded that the probability of another leg is now considerably lower, given the CATL and Zimbabwe supply catalysts, plus incremental Australian supply coming back online. In our view, the equity rally through 1Q/2Q26 pushed several names ahead of what we'd consider fair value on a through-cycle price deck, and this correction is best read as a re-rating back toward more appropriate valuations, not a loss of confidence in sector fundamentals.   

The post What are the top picks in the ASX lithium sector right now? appeared first on The Motley Fool Australia.

After yesterday's lethargic showing, investors came back to the ASX boards with a little more pep in their steps, sending the ASX 200 0.37% higher. After staying in green territory all day, the index ended up closing at 8,841.1 points.

This confident mid-week session for the Australian markets follows a sunny session on Wall Street.

The Dow Jones Industrial Average Index (DJX: .DJI) had a lukewarm day, rising by just 0.018%.

However, the tech-heavy Nasdaq Composite Index (NASDAQ: .IXIC) was far more bullish, gaining 0.9%.

Let's get back to the local markets now and dive a little deeper into what the various ASX sectors were up to today.

Winners and losers

We had more green sectors than red ones this session.

Leading the red sectors were communications shares. The S&P/ASX 200 Communication Services Index (ASX: XTJ) was shunned, tumbling 1.2%.

Gold stocks had a similar experience, with the All Ordinaries Gold Index (ASX: XGD) diving 0.95%.

Energy shares found themselves on the nose, too. The S&P/ASX 200 Energy Index (ASX: XEJ) retreated 0.57% this hump day.

We could say the same for consumer staples stocks, with the S&P/ASX 200 Consumer Staples Index (ASX: XSJ) dipping 0.56%.

Healthcare stocks couldn't hold their own either, evident by the S&P/ASX 200 Healthcare Index (ASX: XHJ)'s 0.38% slide.

Our last losers were consumer discretionary shares. The S&P/ASX 200 Consumer Discretionary Index (ASX: XDJ) slipped 0.22% lower by the close of trading.

Let's turn to the winners now. Leading the push higher were mining stocks, with the S&P/ASX 200 Materials Index (ASX: XMJ) surging 1.7%.

Utilities shares were far tamer, though. The S&P/ASX 200 Utilities Index (ASX: XUJ) lifted 0.17% today.

Financial stocks were also in that ballpark, illustrated by the S&P/ASX 200 Financials Index (ASX: XFJ)'s 0.15% advance.

Tech shares followed financials. The S&P/ASX 200 Information Technology Index (ASX: XIJ) jumped 0.13%.

Then we had real estate investment trusts (REITs), with the S&P/ASX 200 A-REIT Index (ASX: XPJ) also bouncing 0.13% higher.

Finally, industrial stocks rounded out the winners this Wednesday, as you can see by the S&P/ASX 200 Industrials Index (ASX: XNJ)'s 0.07% bump.

Top 10 ASX 200 shares countdown

Our best performer this hump day was miner Kingsgate Consolidated Ltd (ASX: KCN). Kingsgate shares shot up 15.89% this session to finish at $4.23 each.

This came after the company reported some guidance and production updates, which clearly went down well with the market.

Here's how the other top stocks tied up at the dock: 

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

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

Spodumene prices surged approximately 196% over the twelve months to June 2026. This powered ASX lithium producers to among the strongest returns in the market.

Then came June.

Spodumene prices fell by around 12% in June, triggering a sharp, rapid reversal across the sector.

The question now is whether the cooling is temporary or the beginning of a more sustained retreat.

PLS Group: The largest ASX lithium share takes the hardest hit

PLS Group Ltd (ASX: PLS) has had the most dramatic ride of the three.

PLS shares reached a two-and-a-half-year high of $6.38 in May before retreating significantly since then.

The pullback reflects two forces operating at the same time.

Softer lithium futures prices flowed directly through to earnings expectations, while investors who rode PLS from below $2 a year ago have been taking profits after an extraordinary run.

Importantly, the underlying business remains solid.

PLS reported underlying EBITDA surging 241% to $253 million in the first half of FY26. Encouragingly, EBITDA margins expanded from 17% to 41%.

UBS downgraded PLS from buy to neutral with a $4.95 price target, reflecting the view that the easy gains from the initial recovery have been captured.

Liontown: Ramp-up risk compounds the price fall

Liontown Resources Ltd (ASX: LTR) carries the highest risk of the three because it is still ramping up its Kathleen Valley mine in Western Australia.

A 12% fall in the spodumene price compounds operational risk rather than simply reducing a profit margin on an established operation.

Liontown fell 30.2% in June to $1.69, the sharpest decline of the three.

Despite the sell-off, the longer-term picture remains positive for believers in Kathleen Valley.

UBS retained its buy rating on Liontown and raised its target to $2.20, citing the quality of the deposit and the improving ramp-up trajectory.

The current share price sits comfortably below that target, implying meaningful upside if lithium prices stabilise and the ramp-up continues on track.

IGO: Diversification provides some insulation

IGO Ltd (ASX: IGO) is the most operationally diversified of the three ASX lithium shares.

Lithium exposure is diversified through its share of Greenbushes and the Kwinana Lithium Hydroxide Refinery alongside nickel production from Nova.

That diversification provides some insulation from the spodumene price cooling that hit pure-play producers hardest.

IGO fell 23.1% in June to $7.37, a meaningful decline but less severe than Liontown's.

The Kwinana Refinery showed strong improvement in the most recent quarter.

Production increased to 3,047 tonnes in Q3 FY26, up from 2,120 tonnes in Q2. This represented 51% of nameplate capacity, while Greenbushes delivered an EBITDA margin of 75% in the same period.

IGO's positive operational trajectory is important because it demonstrates the lithium division is improving regardless of short-term spodumene pricing.

The bigger picture for ASX lithium shares

The June pullback is a reminder that lithium stocks are commodity stocks.

They are not immune to price cycles. A 12% monthly fall in spodumene is a direct headwind regardless of how strong the longer-term EV demand story is.

UBS previously raised its lithium price forecast by 74%, forecasting spodumene reaching US$3,131 per tonne over the medium term, well above current levels.

The structural demand drivers, including electric vehicle adoption and battery energy storage growth, have not changed.

But until that demand shows up more consistently in the monthly price data, volatility will remain the defining feature of this sector.

Foolish Takeaway

Lithium prices cooled sharply in June, and PLS, Liontown, and IGO all paid the price.

Each is still materially higher than twelve months ago, but June's falls are a timely reminder that commodity leverage works in both directions.

For investors who believe the long-term lithium demand story remains intact, the recent pullback may be creating a more attractive entry point than was available at May's peaks for these ASX lithium shares.

The post Lithium prices are cooling. Here's what that means for these ASX lithium shares appeared first on The Motley Fool Australia.

Meanwhile, brokers have increased their ratings on several ASX shares this week.

Let's take a look.

Santos Ltd (ASX: STO)

The Santos share price is $7.64, up 1.8% today.

This ASX 200 energy share has fallen 1% over 12 months.

Morgan Stanley upgraded Santos shares to a buy rating this week.

The broker raised its 12-month price target from $7.50 to $7.67.

This suggests the stock is fully priced already.

Woodside Energy Group Ltd (ASX: WDS)

The Woodside share price is $29.42, up 1.9% today.

Stock in the market's largest oil and gas producer has risen 23% over 12 months.

Morgan Stanley upgraded Woodside shares to a hold rating on Monday.

The broker has a target price of $28, suggesting a 5% downside ahead.

IGO Ltd (ASX: IGO)

The IGO share price is $6.73, down 3.2% today.

This ASX 200 mining share was among the top 5 lithium stocks for capital growth over FY26.

The IGO share price ascended 77% to close out the year at $7.37 on 30 June.

Morgan Stanley upgraded IGO to a hold rating this week.

The broker raised its 12-month target from $6.85 to $6.95.

This suggests a potential 2% upside ahead.

Netwealth Group Ltd (ASX: NWL)

The Netwealth share price is $23.46, down 0.2% today.

This ASX 200 financial share has tumbled 33% over 12 months.

Ord Minnett upgraded Netwealth shares to a buy rating yesterday.

The broker increased its 12-month target from $25 to $26.

This suggests a potential 10% upside ahead.

HomeCo Daily Needs Ltd (ASX: HDN)

The HomeCo Daily Needs REIT share price is $1.27, up 0.2% today.

This ASX real estate investment trust (REIT) has risen 2.2% over 12 months.

Morgans upgraded the ASX REIT to a buy rating with a $1.36 target on Wednesday.

This implies potential capital growth of 7% over the next year.

Waypoint REIT (ASX: WPR)

The Waypoint REIT share price is $2.42, down 0.2% today.

This ASX real estate share has fallen 1% over 12 months.

Morgans upgraded Waypoint REIT shares to a buy with a $2.50 target yesterday.

This implies a potential 3% upside ahead.

Sandfire Resources Ltd (ASX: SFR)

The Sandfire Resources share price is $17.98, down 1.6% today.

This ASX 200 copper share has rocketed 61% over 12 months amid a rising copper price.

Morgan Stanley upgraded Sandfire shares to a hold rating this week.

The broker increased its 12-month price target from $16 to $17.35.

This suggests a potential 4% downside ahead.

The post 7 ASX shares catching broker upgrades this week appeared first on The Motley Fool Australia.

This is generating significantly higher demand for critical minerals, such as lithium, and batteries to power new infrastructure and EVs.

Lithium prices slumped in 2023-2025 due to an oversupply, but supply/demand finally rebalanced at the start of FY26.  

Lithium went on to top the charts of best-performing commodities in FY26 by a long way.

The lithium spodumene price rose about 280%, and carbonate soared 160% in FY26. 

So, it's no surprise that ASX 200 lithium shares did well in terms of capital growth last year.

In fact, they shot the lights out.

Here are the top five of FY26.

1. Elevra Lithium Ltd (ASX: ELV)

This ASX 200 lithium share roared 327% higher to $9.60 apiece in FY26.

Elevra has a diversified portfolio of mines and development projects across Québec, North Carolina, Ghana, and Western Australia.

Formed through the merger of Piedmont Lithium and Sayona Mining, Elevra's flagship is the North American Lithium Project (NAL). 

In 3Q FY26, NAL generated record revenue of US$81 million, up 22% on 2Q FY26.

Year-to-date revenue was US$167 million, up 68% on the prior corresponding period.

Elevra is undertaking an accelerated expansion at NAL to bring additional production online earlier than planned.

2. PLS Group Ltd (ASX: PLS)

Formerly known as Pilbara Minerals, PLS Group shares rocketed 275% to finish FY26 at $5.02. 

PLS Group is the largest lithium miner on the ASX 200 by market capitalisation. 

The company's flagship is the Pilgangoora Operation, the world's largest independent hard-rock lithium mine. 

PLS reported record quarterly production of 232.4kt in 3Q FY26, along with an 11% decline in unit operating costs.

The average estimated realised price for its lithium spodumene increased 61% over the quarter.

Management said the result reflected strong execution, improved plant reliability, increased run times, and consistently high lithium recovery.

3. Mineral Resources Ltd (ASX: MIN)

The Mineral Resources share price recovered 188% to finish the year at $62.65.

Value investors returned to Mineral Resources after corporate governance issues and financial concerns plagued the company in FY25. 

Founder Chris Ellison faced board-imposed financial penalties of $8.8 million and loss of remuneration of up to $9.6 million for reputational damage to the company.

The board decided to stop paying dividends in order to improve the balance sheet, and the company delivered its strongest half-year result ever in 1H FY26.

The miner reported record revenue of $3.1 billion and earnings before interest, taxes, depreciation, and amortisation (EBITDA) of $1.2 billion.

Soaring lithium commodity prices and the ramp-up of MinRes' Onslow iron ore project contributed to the result. 

4. Liontown Ltd (ASX: LTR)

The Liontown share price jumped 197% to $1.58 in FY26.

Liontown owns one of Australia's newest lithium operations, the Kathleen Valley Project, which only began production in early FY25. 

The company sought to ramp up production in FY26 and achieved a 70% increase in 1H FY26.

This, along with soaring lithium commodity prices, resulted in a doubling of revenue year over year to $207.5 million.

In 3Q FY26, Liontown became cash flow positive and achieved its 1.5Mtpa annualised underground run-rate early.

5. IGO Ltd (ASX: IGO)

This ASX 200 lithium share ascended 77% in FY26 to close out the year at $7.37.

The highlights of FY26 for IGO included a material improvement at the Kwinana Lithium Hydroxide Refinery.

Production increased to 3,047t in 3Q FY26 vs. 2,120t in 2Q FY26, representing 51% of nameplate capacity.

Also in 3Q, nickel production at Nova increased 11%, and the mine generated $52 million of free cash flow.

Greenbushes delivered a 75% EBITDA margin in the quarter.

For 3Q FY26, the lithium and nickel producer reported group underlying EBITDA of $119 million, up from $30 million in 2Q FY26.

Net cash increased to $327 million as at 31 March.

The post Top 5 ASX 200 lithium shares of FY26 appeared first on The Motley Fool Australia.

From market close on 29 May through to the closing bell on 30 June, the ASX 200 gained 0.5%.

Here's how these ASX 200 lithium stocks performed over the month just past:

• Mineral Resources Ltd (ASX: MIN) shares tumbled 15.5% to close June at $62.07 apiece
• Liontown Resources Ltd (ASX: LTR) shares fell 30.2% to close June at $1.69 apiece
• PLS Group Ltd (ASX: PLS) – formerly Pilbara Minerals – shares dropped 22.3% to close June at $5.02 each
• IGO Ltd (ASX: IGO) shares tumbled 23.1% to close June at $7.37 apiece

What sent ASX 200 lithium stocks crashing lower?

The common headwind pressuring all the big Aussie lithium producers was a sharp pullback in spodumene (a lithium-bearing ore) prices. Spodumene prices fell around 12% in June, according to data from Trading Economics.

Though it's important to note that the spodumene price remains up around 160% over past 12 months, which also still sees the ASX 200 lithium stocks racing ahead of the 1.5% one-year gains posted by the benchmark index.

Here's what I mean (price data below through to 2 July):

• Mineral Resources shares are up 183.9% in 12 months
• Liontown shares are up 143.9% in 12 months
• PLS shares are up 273.0% in 12 months
• IGO shares are up 80.4% in 12 months

Which helps put the June retrace into some perspective!

What else moved the Aussie miners in June?

PLS shares closed down 4.7% on 19 June after the ASX 200 lithium stock reported that it had approved up to $175 million of spending ahead of the final investment decision (FID) at its P2000 Project, within its Pilgangoora hard-rock lithium operation.

The miner is studying the potential to increase Pilgangoora's concentrate production capacity to around 2 million tonnes a year.

PLS CEO Dale Henders noted:

P2000 has the potential to represent the next major phase of growth at Pilgangoora and further strengthen PLS' position as one of the world's leading lithium producers. This pre-FID capital expenditure preserves optionality and maintains momentum along the critical path.

By progressing long-lead procurement, engineering and early works now, we are positioning PLS to respond to future lithium demand while retaining optionality for the timing of any final investment decision.

Mineral Resources was the only other ASX 200 lithium stock to release major news in June.

Mineral Resources shares closed down 2.5% on 25 June after the diversified miner announced that its Western Australia-based Lucky Bay Garnet Project would enter care and maintenance commencing on 1 July.

The company said it expects to book a non-cash impairment on the written down value of Lucky Bay of around $40 million for FY 2026.

The post Why did ASX 200 lithium stocks like PLS, Liontown and Mineral Resources shares get smashed in June? 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.

In the calendar year to date (YTD), ASX 200 shares have lifted just 2.1%.

A major commodities sell-off in late January and the global oil shock created by the war in Iran have weighed on equities this year.

Experts say some ASX stocks have hefty falls ahead of them.

Let's take a look at five.

Commonwealth Bank of Australia (ASX: CBA)

The CBA share price closed at $162.23, down 0.9% on Thursday.

The ASX 200 bank stock is up 1% YTD.

Macquarie reiterated its sell rating on CBA shares this month.

The broker cut its 12-month price target from $114 to $111.

This implies a potential 32% downside ahead.

Sandfire Resources Ltd (ASX: SFR)

The Sandfire Resources share price closed at $21.20, down 1.4% today.

This ASX 200 copper stock is once again trading close to its record high of $21.75 set in January.

Citi predicts a significant fall from here, but has a hold rating on the ASX mining stock.

The broker has a price target of $12.20, suggesting a 40%-plus slide ahead.

The lithium stock has risen 18% YTD.

IGO Ltd (ASX: IGO)

The IGO share price closed at $8.64, down 3.4% today.

This ASX 200 lithium stock is up 5% YTD.

Morgan Stanley has a sell rating on IGO shares with a $6.85 target.

This indicates a potential 21% downside ahead.

Centuria Capital Group (ASX: CNI)

Centuria Capital stock closed at $2.18, down 0.5% today.

This ASX real estate investment trust (REIT) is up 7% YTD.

UBS has a hold rating on the ASX real estate stock with a $1.69 target.

This implies 23% potential downside ahead.

Wesfarmers Ltd (ASX: WES) 

The Wesfarmers share price closed at $85.78, up 0.3% today.

This ASX 200 consumer discretionary stock is up 5% YTD.

Wesfarmers recently held its 2026 Strategy Briefing Day.

Management told investors about Wesfarmers' growth and productivity plans, and emphasised the strong balance sheet.

Managing Director Rob Scott said Wesfarmers' main goal was to deliver satisfactory returns for shareholders.

Scott said Wesfarmers stock had delivered an average annual return of 15.8% over 10 years.

This compares to a 9.2% average annual return from the All Ordinaries Accumulation Index.

Citi kept its sell recommendation on Wesfarmers stock with a $69 target after the event.

This implies a potential 20% downside ahead.

The post Warning! 5 ASX stocks to fall 20% or more: Experts appeared first on The Motley Fool Australia.

Amid a highly volatile market, brokers downgraded several ASX 200 shares this week.

Let's take a look at their new ratings and 12-month share price targets for six ASX 200 stocks.

CSL Ltd (ASX: CSL)

The CSL share price is $96, up 3.7% today.

The market's biggest ASX 200 healthcare company has lost 44% of its valuation in the calendar year to date (YTD).

Jefferies downgraded CSL shares to a hold rating and slashed its price target from $195 to $108.

This still implies a potential 12% upside ahead.

WiseTech Global Ltd (ASX: WTC)

The WiseTech share price is $39.77, down 0.9% on Friday.

Over the past six months, this ASX 200 tech share has fallen 46%.

WiseTech Global is no longer the market's biggest tech company. It handed over the reins to Xero Ltd (ASX: XRO) last month.

JP Morgan downgraded WiseTech shares to a hold rating with a $40 target this week.

This suggests the stock is already fully valued.

Telstra Group Ltd (ASX: TLS)

The Telstra share price is $4.95, down 0.3% today.

The ASX 200 telco share has fallen 9% over the past month.

Macquarie downgraded Telstra shares to a hold rating this week.

The broker shaved its 12-month price target from $5.64 to $5.57.

This suggests just a 2% potential upside left in the year ahead.

Capricorn Metals Ltd (ASX: CMM)

The Capricorn Metals share price is $12.90, down 3.2% today.

This ASX 200 gold mining share has fallen 11% YTD.

Goldman Sachs downgraded Capricorn Metals shares to a hold rating on Thursday.

The broker lowered its 12-month target from $17.60 to $16.90.

This still implies a healthy potential upside of 29% ahead.

Find out why the gold price has fallen since the Iran war began here.

IGO Ltd (ASX: IGO)

The IGO share price is $8.96, down 3.2% today.

This ASX 200 lithium share has risen 9% YTD.

JP Morgan downgraded IGO shares to a hold rating this week.

However, the broker lifted its 12-month price target from $8.50 to $9.50.

This indicates capital gains of 7% over the next year. 

Harvey Norman Holdings Ltd (ASX: HVN) 

The Harvey Norman share price is $4.43, up 0.8% on Friday.

This ASX 200 consumer discretionary share has taken a big tumble in 2026.

The furniture retailer has lost 37% of its valuation YTD.

Macquarie downgraded Harvey Norman shares to a hold rating this week.

The broker slashed its price target from $6.60 to $4.50.

This suggests potential capital growth of just 2% over the next year. 

The post 6 ASX 200 shares downgraded by analysts this week appeared first on The Motley Fool Australia.

From market close on 30 April through to the closing bell on 29 May, the ASX 200 gained a respectable 0.8%.

Here's how these ASX 200 lithium stocks stacked up over the month just past:

• Mineral Resources Ltd (ASX: MIN) shares gained 15.3% to close May at $73.47 apiece
• Liontown Resources Ltd (ASX: LTR) shares gained 3.0% to close May at $2.42 apiece
• Pls Group Ltd (ASX: PLS) – formerly Pilbara Minerals – shares gained 7.3% to close May at $6.46 each
• IGO Ltd (ASX: IGO) shares gained 28.9% to close May at $9.58 apiece

The big Aussie lithium producers all caught tailwinds from the ongoing global resurgence in lithium prices.

Spodumene (a lithium bearing ore) prices leapt 13% over the first half of May, before retracing to trade up around 3% for the month at 29 May.

What's been happening with these ASX 200 lithium stocks longer term?

Spodumene prices have since gained another 2% or so through to today, which sees the lithium price up around 196% since this time last year.

As you'd expect, that's put a rocket under ASX 200 lithium stocks.

How much of a rocket?

Well, over the past 12 months the ASX 200 has gained 3.2%.

Here are the types of returns investors in the Aussie lithium producers have reaped over this same period:

• IGO shares are up 158.6%
• Mineral Resources shares are up 277.1%
• Liontown shares are up 339.3%
• PLS shares are up 481.6%

Boom!

Why did IGO shares outperform in May?

You may have noticed that the 28.9% IGO share price gain in May significantly outpaced the gains posted by Mineral Resources, PLS or Liontown shares over the month.

With no price sensitive information released by any of the ASX 200 lithium stocks in May, that outperformance looks to have been driven by bargain hunters, after IGO closed out April with a whimper.

Indeed, IGO shares crashed 17.9% on 24 April after the miner downgraded its full year spodumene production guidance for its flagship Greenbushes hard-rock lithium miner, located in Western Australia.

Investors were reaching for their sell buttons when IGO cut FY 2026 production guidance for Greenbushes to 1,375kt to 1,425kt. That was down from prior guidance of 1,500kt to 1,650kt.

Commenting on the downgrade on the day, IGO CEO Ivan Vella said:

Greenbushes production result this quarter is disappointing. Performance has been challenged across a number of metrics including safety, feed grade, recoveries, maintenance execution and plant reliability.

But judging by the big share price rebound in May, ASX investors believe IGO can address these issues moving forward.

The post How ASX 200 lithium stocks like Liontown, Mineral Resources and PLS shares again beat the benchmark in May appeared first on The Motley Fool Australia.

Shaw and Partners and Macquarie have both released new research reports naming their top picks in the lithium sector, which I'll run through shortly.

But firstly, why is sentiment trending positive at the moment?

Demand and supply under pressure

Shaw and Partners said in its research note that, "Between global supply curtailments, significant future battery energy storage demand and turbo-charged electric vehicle demand, the underpinning fundamental outlook for lithium remains long-term strenuously bullish''.

The broker has upgraded their lithium price forecast, and that has flowed through into increased target prices for the companies they are recommending.

In terms of the demand thematic, Shaw and Partners said global electric vehicle sales grew 6% to 1.6 million units in April, and grid-scale battery storage was growing at nearly twice this rate.

The lithium market was also under pressure due to under-investment in new mines.

As they said:

Years of sub-economic prices forced widespread curtailments, deferred expansions, and slashed exploration budgets. With mine development lead times of 7-10 years, supply simply cannot respond quickly as prices recover. High-quality, low-cost spodumene and brine deposits are geographically concentrated and increasingly depleted at surface. In a twist familiar to all copper followers, newer resources are deeper, lower grade, or located in jurisdictions with elevated sovereign and permitting risk.

Shaw and Partners are expecting lithium prices to remain elevated "well into 2028", underpinned by strong electric vehicle demand following the recent oil price shock.

ASX lithium companies in focus

In terms of specific companies, Shaw and Partners has upgraded Wildcat Resources Ltd (ASX: WC8) from a price target of $1.20 to $1.80, saying that with native title and a mining lease already in place, the company is "fast-tracking its world-class Tabba Tabba Lithium Project to achieve production during the current lithium price cycle''.

They have upgraded their price target for Global Lithium Resources Ltd (ASX: GL1) to $1.75 from $1.50, saying its Manna project is rapidly advancing towards production.

And they have also upgraded Pmet Resources Ltd (ASX: PMT) from $1.20 to $1.50, saying it is advancing the Shaakichiuwaanaan Project in Quebec.

Meanwhile, Macquarie has an outperform rating on IGO Ltd (ASX: IGO) with a price target of $9.50, and PLS Group Ltd (ASX: PLS) with a price target of $6.20.

Macquarie said:

IGO remains our preferred exposure, with cash flow yields screening attractively across price scenarios in FY27–28. We also see upside to 4QFY26 production results. For PLS, the P2000 capex plan remains a key focus, with further clarity expected at the upcoming 4Q and FY26 results. Against a backdrop of rising diesel and steel prices, management of capex escalation will be critical.

The post Which ASX lithium shares to buy as the market recovers: 2 brokers weigh in appeared first on The Motley Fool Australia.

After kicking off the trading week on a positive note yesterday, investors couldn't keep up the momentum, with the index opening in the red this morning and staying that way all session. By the time the markets closed up shop, the ASX 200 had lost 0.39% and finished up at 8,657.8 points.

The US markets were closed for the Memorial Day public holiday last night, so the small gains we saw 'Stateside last Friday are still holding.

So, without further ado, it's now time to take stock of how the various ASX sectors fared amid today's frosty trading conditions.

Winners and losers

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

In what has turned out to be an exceptionally volatile week of trading, the ASX 200 opened comfortably in the green today and stayed there until the closing bell. The index ended up finishing 1.47% higher at 8,621.7 points.

This happy Thursday session on the local markets comes after a similarly bullish night over on the American exchanges.

The Dow Jones Industrial Average Index (DJX: .DJI) was on fire, rising a happy 1.31%

The tech-heavy Nasdaq Composite Index (NASDAQ: .IXIC) was even more enthusiastic, gaining 1.54%.

Let's get back to the ASX now and check out how today's optimism percolated down into the different ASX sectors.

Winners and losers

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

By the time the markets closed, the ASX 200 had shed a nasty 1.26%. That leaves the index back under 8,500 points at 8,496.6.

This rough mid-week session for the Australian markets follows a similarly negative night on the American bourse.

The Dow Jones Industrial Average Index (DJX: .DJI) drifted lower, dropping 0.65%.

The tech-heavy Nasdaq Composite Index (NASDAQ: .IXIC) was even more pessimistic, falling 0.84%.

But let's return to the local markets now for a deeper look into how today's tough trading conditions filtered down into the various ASX sectors this session.

Winners and losers

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

This tough Tuesday session for Australian investors follows a more optimistic start to the American trading week last night (our time).

The Dow Jones Industrial Average Index (DJX: .DJI) managed to keep its head above water, rising 0.19%.

The tech-heavy Nasdaq Composite Index (NASDAQ: .IXIC) was slightly more downbeat, gaining 0.1%.

Let's return to the local markets now and take stock of how today's drop affected the various ASX sectors this session.

Winners and losers

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