Three broker buy ratings that you might want to know more about are summarised below. Here's why brokers think these ASX shares are in the buy zone:

Collins Foods Ltd (ASX: CKF)

According to a note out of Morgans, its analysts have retained their buy rating and $10.60 price target on this quick service restaurant operator's shares. Morgans was pleased with Collins Foods' trading update, highlighting that group sales are up 6.6% for the first 17 weeks of FY 2027. This is being driven by resilience in Australia and European same store sales improving markedly. In light of this, the broker sees value in its shares at current levels and is recommending them to clients. The Collins Foods share price ended the week at $8.47.

Liontown Ltd (ASX: LTR)

A note out of Bell Potter reveals that its analysts have retained their buy rating and $1.90 price target on this lithium miner's shares. The broker highlights that Liontown's valuation is lagging the recent recovery in lithium markets and expected tight fundamentals. In fact, it points out that the company's shares were last trading at this valuation when lithium prices were significantly lower and its net debt was meaningfully higher. In addition, since then, the Kathleen Valley underground ramp-up has been further de-risked. And while it expects lithium markets to remain volatile, Bell Potter believes market fundamentals remain strong. The Liontown share price was fetching $1.23 at Friday's close.

Qantas Airways Ltd (ASX: QAN)

Analysts at Morgan Stanley have retained their overweight rating and $12.80 price target on this airline operator's shares. According to the note, the broker believes Qantas is one of the best options among the Australian industrials it has under coverage. It thinks the company is well-placed to benefit from resilient demand and pricing and expects this to help offset higher fuel costs. Morgan Stanley also believes the market is underestimating the earnings potential of the international business as premium capacity and new aircraft increase. The Qantas share price ended the week at $9.39.

The post Top brokers name 3 ASX shares to buy next week appeared first on The Motley Fool Australia.

Let's find out if the three have been given buy ratings or something else this week. Here's what you need to know:

Collins Foods Ltd (ASX: CKF)

Morgans is feeling positive about this KFC-focused quick service restaurant operator.

In response to a positive trading update, the broker has retained its buy rating and $10.60 price target on Collins Foods shares. It said:

CKF's AGM trading update was positive. Group sales rose 6.6% over the first 17 weeks of FY27, with Australia resilient and European SSS (same-store-sales) inflecting from the weak start over the last 4 weeks, which we view positively in a tough consumer environment. 

Trading strengthened through the last 4 weeks, with KFC SSS of +3.1% in AU, +3.1% in the Netherlands, driven by the new Halal-certified range, and -0.1% in Germany, a material improvement on the -7.8% (Netherlands) and -7.2% (Germany) start over the first 8 weeks. We retain our BUY rating and A$10.60 target price; Australia is resilient and Europe is re-accelerating.

Goodman Group (ASX: GMG)

The broker highlights that this industrial property giant delivered a result in line with expectations last month.

And while its result wasn't quite enough to justify a buy recommendation, the broker has retained its accumulate rating (between buy and hold) on Goodman shares with a $33.20 price target. It explains:

GMG's FY26 result (reported 20-August) was solid and in line at the headline, with OEPS of 129.9cps (+10.1% on pcp) matching both MorgansF and consensus. In terms of composition, development earnings (+34% on pcp) carried the result, offsetting softer Management and Property investment earnings. The market remains focused on the pending data centre pipeline, with WIP having increased 53% to $19.7bn (78% data centres) at an 8.2% yield on cost. 

Leasing is progressing alongside construction, but with only a single 50MW Tokyo lease signed, investors are looking for further hyperscale conversions. We remain positive on the medium-term earnings trajectory, underpinned by a funded development book, low gearing (6.5%, 19.5% look-through) and scarce metro land and power. We retain our ACCUMULATE rating with a $33.20/sh TP.

Liontown Ltd (ASX: LTR)

This lithium miner reported operating earnings that were softer than consensus estimates but in line with Morgans' expectations.

And with its outlook in FY 2027 unchanged, the broker has retained its accumulate rating on Liontown shares with a $1.40 price target. It said:

FY26 underlying EBITDA missed consensus estimates but was in line with MorgansF, while underlying NPAT beat expectations as the company swung to a net profit from a loss in FY25. FY27 outlook was unchanged with guidance already provided at the 4Q26 result and today's release contained no material updates on the Kathleen Valley expansion timeline or ramp-up. FID for the expansion is expected by the end of 1Q27. Maintain ACCUMULATE with a A$1.40ps target price.

The post Buy, hold, sell: Liontown, Collins Foods, and Goodman shares appeared first on The Motley Fool Australia.

Brokers have been updating their ratings and 12-month share price targets after reviewing the FY26 results of hundreds of companies.

Let's see what Bell Potter and Morgans thinks of these 3 ASX shares.

Liontown Ltd (ASX: LTR)

The Liontown share price leapt 27% during earnings season and is down 22% YTD.

Bell Potter has a buy rating on this ASX 200 lithium share after reviewing Liontown's FY26 report.

The broker maintained its 12-month share price target at $1.90.

This implies a potential near-50% upside from here.

Analysts Stuart Howe and Ritesh Varma said:

We still believe that LTR's EV is lagging the recent recovery in lithium markets and expected tight fundamentals.

The last time LTR was trading at its current EV (early December 2025), SC6 prices were US$1,150/t and net debt was $274m.

Since then, the Kathleen Valley underground ramp-up has been further derisked and spot SC6 prices are above US$2,300/t.

While we expect lithium markets will be volatile, market fundamentals remain strong.

Over FY27, LTR will continue to ramp up and de-risk Kathleen Valley, a highly strategic asset in terms of scale, long project life and location in a tier-one mining jurisdiction.

Austal Ltd (ASX: ASB)

The Austal share price ascended 15% during earnings season and is down 38% YTD.

Bell Potter has a hold rating on this ASX 200 industrials share following Austal's FY26 results.

The broker reduced its 12-month share price target from $5 to $4.70.

This suggests a potential 11% upside from here.

Analyst Baxter Kirk said: 

ASB pre-reported an EBIT loss of -$113m earlier this month, however, FY26 EBIT came in below this pre-report at -$125m.

ASB reported +11% YoY revenue growth to $2,029m 8% below BPe of $2,197m and consensus of $2,213m.

ASB typically does not provide guidance this early in the year…

The Board and management are committed to delivering a return to profitability in FY27e.

Management expects the operational and financial performance of the Australasia

Support segment to fall to some extent in the near term due to scheduled end of current contracts and closure of Austal Darwin.

Boss Energy Ltd (ASX: BOE)

The Boss Energy share price jumped 16% during earnings season and is down 8% YTD.

Morgans downgraded this ASX 300 energy share from an accumulate to sell rating after its FY26 results.

The broker reduced its 12-month share price target from $1.40 to $1.30.

This implies a potential 10% downside from here.

Morgans said: 

Guidance rest and expectations move lower — FY27 guidance implies a ~15% production downgrade versus consensus even at the top end of the range, while C1 costs and AISC are ~15-18% above market expectations.

While FY26 was broadly in line, FY27 guidance is likely to drive a reset in earnings expectations.

Honeymoon new feasibility study — The updated feasibility study outlines a more achievable development pathway with improved unit economics and lower sustaining capital intensity; however, the 13.8Mlb production profile sits below the ~15.1Mlb assumed by consensus, shifting the debate towards whether improved margins can offset lower volumes.

The post Buy, hold, sell: Boss Energy, Austal, Liontown shares appeared first on The Motley Fool Australia.

What did Liontown report?

• Entered a farm-in agreement with NEXT Lithium Corp. for the Centenario lithium brine project in Salta, Argentina
• Potential to earn up to 100% interest in the project by funding US$40 million (~A$56 million) over four years, plus milestone payments
• Initial payment will be US$5 million (~A$7 million) in cash and US$10 million (~A$14 million) in Liontown shares
• An initial work program of US$15 million is planned over the first 12–24 months, targeting early-stage exploration and drilling
• Staged structure allows Liontown to increase its project stake based on funding and exploration outcomes

What else do investors need to know?

The project is situated in a promising lithium brine district, close to established operations run by sector giants like Lithium Argentina, Ganfeng, and Eramet. This move offers Liontown a low-cost foothold in a globally significant lithium province and aligns with its strategy to diversify and grow its battery minerals portfolio.

Partnering with NEXT Lithium gives Liontown access to the expertise of a team with a strong track record in Argentinian lithium brine assets. Liontown retains capital discipline through the staged investment and maintains Kathleen Valley as its core focus.

The agreement includes standard conditions precedent, such as the release of security interests over the project and the repayment of certain intercompany loans. If these are not satisfied within six months, either party may walk away without further liability.

What did Liontown management say?

Managing Director and CEO Tony Ottaviano said:

This transaction gives Liontown a low-cost entry into lithium brine. Brine is one of the two primary sources of the world's lithium, and this is our first step in building real understanding and capability in it. Structuring the deal as a staged farm-in ties our capital to results, so we invest more only as the project proves itself. Kathleen Valley remains our priority, and we will keep pursuing value-accretive growth where it fits our strategy. NEXT Lithium knows lithium, knows brine, and knows Argentina. That depth of expertise is exactly what we want alongside us as we build our own capability.

What's next for Liontown?

Liontown plans to launch initial exploration at Centenario, with a US$15 million program over the first two years, including drilling and geophysical testing. As results come in, the company can opt to boost its ownership through further staged investments, up to full control of the project.

The Centenario farm-in is designed to complement Liontown's hard-rock operations, providing diversified growth options and access to both major sources of lithium worldwide. Management remains committed to carefully scaling exposure in step with exploration outcomes and market conditions.

Liontown share price snapshot

Over the past 12 months, Liontown shares have risen 35%, outperforming the S&P/ASX 200 Index (ASX: XJO), which has risen 2% over the sme period.

View Original Announcement

The post Liontown enters Argentina lithium brine farm-in, diversifying future growth appeared first on The Motley Fool Australia.

During this time, the lithium miner's shares have risen 35%.

Despite this, one leading broker believes that the company's shares could be dirt cheap.

What is the broker saying?

According to a note out of Bell Potter, its analysts felt that Liontown delivered a "solid" result in FY 2026. The broker said:

LTR reported FY26 underlying EBITDA of $147m (BP est. $222m) and NPAT of $14m (BP est. -$3m). Statutory NPAT was $93m, includes a net -$44.3m tax effected charge for fair value movements and FX gain related to the convertible notes issued to LG Energy Solution, and the recognition of a $112.9m deferred tax asset for tax losses carried forward from prior years. LTR did not declare a dividend, as expected. 

The FY26 result was symptomatic of the Kathleen Valley ramp-up, with high depreciation associated with completing the open pit in late 2025. As previously reported, LTR finished FY26 with cash of $561m and debt of $369m (excluding leases) implying a net cash position of $192m.

Looking ahead, Bell Potter highlights that management is working towards a final investment decision (FID) for the Kathleen Valley mine and processing plant expansion, with a decision due in the near term. It said:

LTR intends to take a formal Final Investment Decision (FID) on the Kathleen Valley mine and processing plant expansion in late September 2026. The expansion is designed to lift underground mining and processing throughput from 2.8Mtpa to 4.0Mtpa, thereby lifting concentrate production capacity from around 500ktpa to over 700ktpa. In today's release, LTR reiterated FID remains on track for end of Q1 FY27.

Are Liontown shares dirt cheap?

Bell Potter believes that Liontown shares are unnecessarily cheap, highlighting that its enterprise value (EV) is trading at a level not seen since lithium prices were significantly cheaper and its debt load was higher. It said:

We still believe that LTR's EV is lagging the recent recovery in lithium markets and expected tight fundamentals. The last time LTR was trading at its current EV (early December 2025), SC6 prices were US$1,150/t and net debt was $274m. Since this date. Since then, the Kathleen Valley underground ramp-up has been further derisked and spot SC6 prices are above US$2,300/t. 

While we expect lithium markets will be volatile, market fundamentals remain strong. Over FY27, LTR will continue to ramp up and de-risk Kathleen Valley, a highly strategic asset in terms of scale, long project life and location in a tier-one mining jurisdiction.

In response to the company's results, the broker has retained its buy rating and $1.90 price target on Liontown's shares.

Based on its current share price of $1.23, this implies potential upside of approximately 55% for investors over the next 12 months.

The post Why Liontown shares could be dirt cheap appeared first on The Motley Fool Australia.

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

ASX 200 to fall again

The Australian share market looks set for a weak session on Tuesday following a poor night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 23 points or 0.25% lower. In the United States, the Dow Jones dropped 0.7%, the S&P 500 fell 0.35%, and the Nasdaq edged 0.1% lower.

Shares going ex-dividend

A number of popular ASX 200 shares will be going ex-dividend on Tuesday and could trade lower. This includes Bendigo and Adelaide Bank Ltd (ASX: BEN), Endeavour Group Ltd (ASX: EDV), Fortescue Ltd (ASX: FMG), Wesfarmers Ltd (ASX: WES), and Woolworths Group Ltd (ASX: WOW). The latter will be rewarding shareholders with a fully franked 52 cents per share dividend later this month on 25 September.

Oil prices jump

ASX 200 energy shares Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) could have a good session on Tuesday after oil prices jumped overnight. According to Bloomberg, the WTI crude oil price is up 3.5% to US$86.33 a barrel and the Brent crude oil price is up 3% to US$90.74 a barrel. This was driven by a flare-up in US-Iran hostilities.

Gold price falls

ASX 200 gold shares Genesis Minerals Ltd (ASX: GMD) and Capricorn Metals Ltd (ASX: CMM) could have a soft session after the gold price fell overnight. According to CNBC, the gold futures price is down 0.75% to US$4,496.5 an ounce. The precious metal pulled back to a two-week low on increasing US rate hike bets.

Buy Liontown shares

Liontown Ltd (ASX: LTR) shares could be in the buy zone according to analysts at Bell Potter. This morning, the broker retained its buy rating and $1.90 price target on the lithium miner's shares. It said: "We still believe that LTR's EV is lagging the recent recovery in lithium markets and expected tight fundamentals. The last time LTR was trading at its current EV (early December 2025), SC6 prices were US$1,150/t and net debt was $274m. Since then, the Kathleen Valley underground ramp-up has been further derisked and spot SC6 prices are above US$2,300/t. While we expect lithium markets will be volatile, market fundamentals remain strong."

The post 5 things to watch on the ASX 200 on Tuesday appeared first on The Motley Fool Australia.

Investors seemed to lose all of the optimism that defined the end of last week's trading, with the index opening sharply lower this morning. Although investors did have a temporary change of heart around lunchtime, sending the ASX 200 briefly back into positive territory, it wasn't to last. By the time the market closed, the index had lost 0.18% and closed at a flat 9,076 points.

This Garfield-esque start to the Australian trading week came after a similarly negative end to the American trading week on Friday night (our time).

The Dow Jones Industrial Average Index (DJX: .DJI) gave up an early lead to finish down 0.018%.

The tech-heavy Nasdaq Composite Index (NASDAQ: .IXIC) was more decisive, losing 0.52%.

But let's return to this week and our local markets now for a closer look at how the broader market's pessimism affected the different ASX sectors this Monday.

Winners and losers

Despite the market's overall falls, we saw a few sectors make some hay.

But first, it was gold stocks that were hit the hardest this session. The All Ordinaries Gold Index (ASX: XGD) was smashed down 4.33% by the closing bell.

Broader mining shares were also punished, with the S&P/ASX 200 Materials Index (ASX: XMJ) plunging 2.02%.

Tech stocks were also shunned. The S&P/ASX 200 Information Technology Index (ASX: XIJ) cratered 1.39% today.

Healthcare shares didn't have a healthy time either, evidenced by the S&P/ASX 200 Healthcare Index (ASX: XHJ)'s 0.61% dive.

Our final losers this Monday were consumer discretionary stocks. The S&P/ASX 200 Consumer Discretionary Index (ASX: XDJ) shrank 0.37%.

Let's turn to the winners now. It was financial shares that took the glory, with the S&P/ASX 200 Financials Index (ASX: XFJ) soaring 1.14% higher.

Consumer staples stocks ran hot, too. The S&P/ASX 200 Consumer Staples Index (ASX: XSJ) bounced 0.91% higher this session.

Communications shares were also in high demand, illustrated by the S&P/ASX 200 Communication Services Index (ASX: XTJ)'s 0.78% jump.

Energy stocks found plenty of buyers as well. The S&P/ASX 200 Energy Index (ASX: XEJ) got a 0.54% bump.

Industrial shares got a reprieve as well, with the S&P/ASX 200 Industrials Index (ASX: XNJ) putting on 0.38%.

Real estate investment trusts (REITs) also got out with a win. The S&P/ASX 200 A-REIT Index (ASX: XPJ) ended up adding 0.18% to its total today.

Finally, utilities shares got over the line, as you can see by the S&P/ASX 200 Utilities Index (ASX: XUJ)'s 0.07% improvement.

Top 10 ASX 200 shares countdown

Property stock PEXA Group Ltd (ASX: PXA) was our top-performing stock on the index this Monday. Pexa shares surged 9.43% this session to close at $7.31 each. This leap higher came after Pexa reported its latest earnings, which investors clearly took a shine to.

Here's the rest of today's best:

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.

In morning trade on Monday, two of the big-name ASX shares are outperforming the S&P/ASX 200 Index (ASX: XJO) 's 0.2% losses at this time, while one is trailing.

Here's what's grabbing investor attention.

Telstra shares in the green amid board shakeup

Telstra shares are up 0.6% today, trading for $4.64 apiece.

Investors are tuning into the ASX 200 telco today after the company reported that Bridget Loudon-Harris will step down from the Telstra board on 13 October after six years as a director.

Loudon-Harris has served as a member of Telstra's People and Remuneration Committee since October 2022.

Commenting on the positive impact Loudon-Harris has had in helping to support Telstra shares, chairman Craig Dunn said:

The board has benefited greatly from Bridget's valuable insights and constructive challenge across strategy, disruption, AI, transformation and performance culture. Having an entrepreneur and digital native around the table has allowed us to bring a diverse and very important perspective to the board.

Liontown shares jump on record revenue

Like Telstra shares, Liontown shares are outperforming today, up 2.1% and changing hands for $1.22 apiece.

This follows the release of the ASX 200 lithium miner's full-year FY 2026 results.

Over the year, Liontown produced 391,992 dry metric tonnes (dmt) and shipped 381,997 dmt of lithium concentrate at (5.1% Li₂O average grade).

And FY 2026 saw Liontown record its first-ever net profit after tax (NPAT), which came in at $93 million. The company reported record revenue of $639 million, up 114% from FY 2025.

Importantly, FY 2026 also saw Liontown transition its Kathleen Valley lithium project into a 100% underground operation.

Liontown CEO Tony Ottaviano commented:

The market handed us two very different halves in the year. Prices were weak early, so we kept costs tight and preserved cash. When the market turned, we backed our own read of it and we are now reinvesting in Kathleen Valley with the same discipline.

Northern Star shares slide amid top leadership changes

Joining Liontown and Telstra shares in turning heads today, we find Northern Star.

Shares in the ASX 200 gold mining giant are down 3.9% at the time of writing, trading for $23.82 apiece, pressured in part by a sliding gold price.

This morning, Northern Star also reported that, as previously revealed, Suresh Vadnagra will succeed Stuart Tonkin as managing director and CEO commencing on 5 October.

Tonkin stepped down as Northern Star's managing director and CEO on Friday, 28 August. Ryan Gurner, who has worked alongside Turner as deputy CEO since 2 July, will serve as interim CEO until Vadnagra takes the reins in October.

Commenting on Tonkin's departure, Northern Star chairman Michael Chaney said:

Through his financial acumen, integrity and leadership, Ryan has made a significant contribution to Northern Star's growth and success over his eleven years with the Company, a period marked by substantial value creation.

The post Why Liontown, Northern Star and Telstra shares are turning heads on Monday appeared first on The Motley Fool Australia.

What did Liontown report?

• Maiden net profit after tax (NPAT) of $93 million; underlying NPAT of $14 million
• Record revenue of $639 million, up from $298 million in FY25
• Underlying EBITDA of $147 million, up from $20 million last year
• Operating cash flow grew to $182 million
• Transitioned Kathleen Valley to 100% underground operation, with open pit mining concluding on schedule
• Produced 391,992 dmt and shipped 381,997 dmt of concentrate at a 5.1% Li₂O average grade

What else do investors need to know?

Liontown completed its transition to a fully underground operation at Kathleen Valley this year, with the ramp-up progressing as planned. The current run-rate target of 2.8 million tonnes per annum is on track to be achieved by the end of FY27.

The company also clarified the impact of market volatility, noting that it maintained strict cost control during weaker price cycles and is now reinvesting in expansion as conditions improve. Notably, Liontown reduced current borrowings by $312 million to just $53 million at 30 June 2026, mainly due to the conversion of convertible notes to equity.

On the sustainability front, the Kathleen Valley Hybrid Power Station continued to perform reliably, providing around 80% renewable energy to operations. Liontown strengthened partnerships with the Tjiwarl Traditional Owners, investing $24 million with Aboriginal businesses and supporting workforce development.

What did Liontown management say?

Managing Director and CEO Tony Ottaviano said:

In this financial year, Kathleen Valley produced its maiden profit and strong operating cash while still ramping up, helped in the second half by better prices. We generated $182 million in operating cash, with NPAT of $93 million and underlying NPAT of $14 million.

The market handed us two very different halves in the year. Prices were weak early, so we kept costs tight and preserved cash. When the market turned, we backed our own read of it and we are now reinvesting in Kathleen Valley with the same discipline.

We concluded open pit mining during the year. The underground ramp-up is going to plan and we are on track for 2.8Mtpa by the end of FY27.

As we enter FY27, our focus is safe, stable operations, delivering a business that is resilient through the cycle, and growing responsibly with FID on our Kathleen Valley expansion due next month.

What's next for Liontown?

Looking ahead, Liontown will focus on safely scaling up the underground operations at Kathleen Valley, aiming to reach the targeted 2.8Mtpa run-rate by the end of FY27. The company is also preparing for a final investment decision on the next phase of its Kathleen Valley expansion, expected shortly.

With strong cash flow, a significant reduction in debt, and continued investment in sustainability and traditional owner partnerships, Liontown appears well placed to navigate lithium market cycles and pursue further growth opportunities.

Liontown share price snapshot

Over the past 12 months, Liontown shares have risen 31%, outpacing the S&P/ASX 200 Index (ASX: XJO), which has risen 2% over the same period.

View Original Announcement

The post Liontown FY26 results: Maiden profit, record revenue as lithium prices rebound appeared first on The Motley Fool Australia.

The ASX 200 stayed in green territory all session, steadily climbing to close with a 0.6% gain. That leaves the index at 9,092.3 points as we head into the weekend.

This happy day for Australian investors followed an upbeat Thursday session for US markets overnight.

The Dow Jones Industrial Average Index (DJX: .DJI) enjoyed a modest 0.1% gain.

Meanwhile, the tech-heavy Nasdaq Composite Index (NASDAQ: .IXIC) ran much hotter, rising 1.57%.

But let's get back to the local markets now for an examination of how the various ASX sectors fared amid today's pleasant trading conditions.

Winners and losers

There were only a couple of sectors that weren't invited to today's ASX party.

The most conspicuous absentee was real estate investment trusts (REITs). The S&P/ASX 200 A-REIT Index (ASX: XPJ) was left out in the cold, slumping 0.78%.

The other unlucky corner of the market was utilities shares, with the S&P/ASX 200 Utilities Index (ASX: XUJ) slipping 0.09%.

Let's get to the winners now, though. Leading said winners this Friday were tech shares. The S&P/ASX 200 Information Technology Index (ASX: XIJ) was on fire, shooting 2.31% higher.

Mining stocks were in high demand too, illustrated by the S&P/ASX 200 Materials Index (ASX: XMJ)'s 0.98% surge.

Gold shares were also popular. The All Ordinaries Gold Index (ASX: XGD) roared 0.9% higher this session.

Financial stocks had a day to remember as well, with the S&P/ASX 200 Financials Index (ASX: XFJ) soaring 0.75%.

Energy shares didn't miss out. The S&P/ASX 200 Energy Index (ASX: XEJ) enjoyed a 0.66% jump this Friday.

We could say something similar for consumer discretionary stocks, as you can see by the S&P/ASX 200 Consumer Discretionary Index (ASX: XDJ)'s 0.44% leap.

Its consumer staples counterpart was a little less enthusiastic. The S&P/ASX 200 Consumer Staples Index (ASX: XSJ) still managed a 0.3% improvement, though.

Communications stocks were our next corner of the market, with the S&P/ASX 200 Communication Services Index (ASX: XTJ) advancing 0.25%.

Healthcare shares were decent performers, too. The S&P/ASX 200 Healthcare Index (ASX: XHJ) put on 0.08% today.

Finally, industrial shares only just got over the line, evidenced by the S&P/ASX 200 Industrials Index (ASX: XNJ)'s 0.04% bump.

Top 10 ASX 200 shares countdown

Gold stock Pantoro Gold Ltd (ASX: PNR) was our chart-topper this Friday.

Pantoro shares rocketed up 5.88% to close at $2.88 each today. That was despite no news or announcements from the company today.

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.

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.

After opening sharply lower this morning, the ASX 200 stayed in red territory all day and ended up closing with a substantial 0.8% loss. That leaves the index at 9,115.2 points as we head into the weekend.

Today's rough end to the trading week for local investors follows a notably more positive night up on Wall Street.

The Dow Jones Industrial Average Index (DJX: .DJI) overcame a mid-session dip to finish up a lucky 0.13%.

The tech-heavy Nasdaq Composite Index (NASDAQ: .IXIC) did better, enjoying a 0.81% rise.

But let's get back to the local boards now and check out how today's selling filtered down into the various ASX sectors this Friday.

Winners and losers

There were still a few sectors that managed to come out ahead this session.

But first, it was mining stocks that were the hardest-hit corner of the market today. The S&P/ASX 200 Materials Index (ASX: XMJ) was slammed, tanking 2.58%.

Gold shares weren't much better, with the All Ordinaries Gold Index (ASX: XGD) plunging 2.38%.

Industrial stocks didn't get a reprieve either. The S&P/ASX 200 Industrials Index (ASX: XNJ) cratered 1.38% this session.

Real estate investment trusts (REITs) weren't popular, as you can tell by the S&P/ASX 200 A-REIT Index (ASX: XPJ)'s 0.78% dive.

Nor were healthcare shares. The S&P/ASX 200 Healthcare Index (ASX: XHJ) had tumbled 0.68% by the end of trading.

Energy stocks did better, but the S&P/ASX 200 Energy Index (ASX: XEJ) was still walked back by 0.31%.

Financial shares were in that ballpark, too. The S&P/ASX 200 Financials Index (ASX: XFJ) slid 0.12% lower this Friday.

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

Leading the winners today were tech stocks, evidenced by the S&P/ASX 200 Information Technology Index (ASX: XIJ)'s 2.83% surge.

Utilities shares also ran hot. The S&P/ASX 200 Utilities Index (ASX: XUJ) enjoyed a 1.03% jump today.

Communications stocks were in demand as well, with the S&P/ASX 200 Communication Services Index (ASX: XTJ) lifting 0.47%.

As were consumer discretionary shares. The S&P/ASX 200 Consumer Discretionary Index (ASX: XDJ) advanced 0.28% over today's trading.

Finally, consumer staples stocks escaped unscathed, illustrated by the S&P/ASX 200 Consumer Staples Index (ASX: XSJ)'s 0.14% improvement.

Top 10 ASX 200 shares countdown

This Friday's index winner was classifieds stock Seek Ltd (ASX: SEK). Seek shares roared 9.13% higher this session to close the week at $15.18 each.

This came despite no fresh news. Perhaps it was a reobund after the big drops we saw earlier in the week, or perhaps a reaction to a buy rating from a broker.

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.

And brokers are now tipping which ASX 200 shares could keep on climbing. Here are three of them, and they're all forecast to grow by 60% or more over the next 12 months.

Xero Ltd (ASX: XRO)

Xero shares fell to around a seven-year low of $61.58 in late July, but have rebounded strongly since. At the time of writing, the shares have recovered around 28% and are changing hands at $78.89 a piece. 

The latest increase has been impressive, but it has barely made a dent in the amount of losses shed over the past 12 months. For the year to date, Xero shares are still down around 54%.

It's been a difficult year for the ASX 200 tech stock after a sector-wide sell-off saw its share price plunge. There were also concerns that some tech shares were trading above fair value after a sector-wide rally in late 2025.

But analysts haven't given up hope. And they're all bullish that Xero shares have plenty more room to run over the next 12 months.

Xero benefits from a relatively predictable revenue stream. Its subscription-based business model means it has an incredibly sticky subscription base and high customer retention rates. 

There is also plenty of opportunity to expand.

Market Index data shows that the majority of brokers have a buy rating on the ASX 200 tech shares. The average $139.26 target price implies a potential upside of around 77%, at the time of writing. 

Mesoblast Ltd (ASX: MSB)

The clinical-stage ASX biotech company has had a slow start to 2026. At the time of writing, the shares are trading for $2.41 a piece, down 13% for the year to date but 5% higher than 12 months ago. The shares seem to have fallen this year off the back of an increase in investor caution around clinical timelines and profit-taking after last year's rally.

The company develops and commercialises allogeneic cellular medicines to treat complex diseases. Some products are already in use, and other cell therapies are in the late stages of clinical trials. 

Its products, particularly Mesoblast's Ryoncil product, are gaining traction and the business is well-funded. Brokers are also bullish that sales can continue growing strongly in FY27.

Market Index data shows all brokers agree on a buy rating for the ASX 200 biotech shares. The $3.49 target price implies a potential 45% upside, at the time of writing. 

Liontown Ltd (ASX: LTR)

The ASX 200 lithium shares have shown signs of recovery through the first couple of weeks of August. At the time of writing, the shares have rebounded around 22% throughout the month so far. 

It's great news for investors after the shares came off the boil earlier this year, sending the share price crashing to a year to date low in late July. Liontown shares are changing hands at $1.18 at the time of writing, down 27% for the year to date but 28% higher than 12 months ago.

Investors have leaned into Liontown shares over the past year on the pretence that the company has a long-term ability to benefit from strong lithium pricing and expanding global EV demand. The miner's development pipeline and exposure to future supply chains have also attracted investor attention.

But Liontown is practically a pure-play lithium miner, and its assets are overwhelmingly lithium-focused. This means it is sensitive to and heavily dependent on lithium price trajectories. This year's crash and latest rebound is almost entirely due to lithium price movements, which have followed the same pattern.

But Market Index data shows that brokers are mostly very bullish about the outlook for the ASX 200 shares going forward. The majority have a buy rating and the $1.77 average target price implies a potential upside of just over 50%, at the time of writing.

The post 3 ASX 200 shares tipped to grow 45% to 75% over the next 12 months 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.

Liontown Resources Ltd (ASX: LTR) led the charge, while PLS Group Ltd (ASX: PLS) and Mineral Resources Ltd (ASX: MIN) both joined the rally.

Why lithium shares bounced last week

The catalyst was Liontown's presentation at the Diggers and Dealers conference in Kalgoorlie.

Management pointed to improving spodumene demand, stronger operating performance at the Kathleen Valley mine, and early work on a planned expansion.

Sentiment spread quickly across the sector, which is entirely characteristic of how this corner of the market trades.

It helps to remember what came immediately before the move.

Liontown shares fell 43% in July, while PLS Group declined 17.3% over the same month.

The starting point flatters the percentage.

What the June quarter actually showed

The operational data is more encouraging than the share prices imply.

The June quarter was not the problem.

Liontown sold 108,489 dry metric tonnes of spodumene concentrate in the June quarter at an average realised price of US$1,880 per tonne.

Sales revenue rose 19.3% quarter on quarter to $235 million, and the company generated $137 million of net cash flow.

It also achieved all of its FY26 production and cost guidance.

PLS Group is the largest lithium producer of the three.

Its Pilgangoora operation in Western Australia ranks among the largest hard-rock lithium mines, and the company has used the downturn to strengthen its balance sheet.

Scale is its main defence in a low-price environment.

Mineral Resources has been on a different trajectory.

Morgans upgraded the miner to a buy rating with a $68 price target after a strong fourth quarter, noting that FY26 guidance was met or exceeded across all segments.

Net debt fell to $4.3 billion, coming in 8% below the broker's expectations.

Mineral Resources also offers something the other two do not.

Its mining services division earns fees regardless of what the lithium price is, and that diversification softens the blow whenever spodumene prices weaken.

That is the appeal of a diversified miner.

The case against a lasting lithium shares recovery

Lithium carbonate prices in China fell to CNY 140,000 per tonne in August, their lowest level in nearly six months.

Higher prices earlier in the year did what higher prices always do: draw idled supply back into the market.

Mineral Resources is restarting its Bald Hill mine after an 18-month suspension, and Core Lithium has brought its Finniss project back online.

That is the central concern facing the sector right now.

Demand seems strong, particularly from grid-scale battery storage tied to data centre construction.

But the supply response has been quick, and mothballed hard-rock projects can be restarted in only a few months.

Share prices have been moving on sentiment, while the underlying commodity has been moving the other way.

Foolish Takeaway on ASX lithium shares

Last week's rally looks more like a relief bounce than a turning point.

The producers are in far better operational shape than they were two years ago, with lower costs, funded balance sheets, and guidance being met.

That is a meaningful improvement, and it matters across a full cycle. But what is missing is a sustained move of the underlying commodity price.

Until spot prices stop drifting lower, investors buying lithium shares today will have to deal with concerns about future lithium revenues.

The post ASX lithium shares are moving again. Is the recovery here to stay? appeared first on The Motley Fool Australia.

After spluttering along for most of 2026, Australia's benchmark index roared to life, rising 3.5% across 5 days of trading. 

There were plenty of winners across the market. Three of the best performers included: 

• Liontown Ltd (ASX: LTR) which rose 22%
• Telix Pharmaceuticals Ltd (ASX: TLX) which rose 14%
• Chalice Mining Ltd (ASX: CHN), which climbed 24%. 

After such a strong week, many investors will be wondering if they have missed their chance to capture profits. 

Here's the latest guidance from experts on these red hot ASX shares. 

Rebound incoming for Liontown shares

Liontown Resources is a mineral resources company focused on the development and operation of high-quality lithium and tantalum projects in Western Australia.

It suffered heavy sell-offs during July, but has shown signs of life so far in August. 

However, recent commentary suggests it may have been oversold. 

A recent report from Macquarie included a one year price target of $1.70 on these ASX shares. 

This indicates a 44% upside from current levels. 

Elsewhere, Morgans has a one-year price target of $1.40 on Liontown shares. 

This still indicates a healthy upside from last week's closing price. 

Chalice Mining has plenty of room to grow

Chalice Mining is an explorer and developer of precious and base metals. The company's portfolio includes its flagship 100%-owned Julimar project in Western Australia, hosting platinum group elements (PGE), nickel, copper, cobalt, and gold.

A recent report from Bell Potter suggests that last week's 24% gain could be just the beginning of a long-term rise. 

The broker recently retained its speculative buy rating and $4.00 price target on the ASX share.

CHN's Gonneville project continues to offer exposure to a globally significant, critical minerals PGE-Ni-Cu-Co Project in a Tier 1 jurisdiction. It has designation at both State and Federal levels as a Major Project, conferring dedicated co-ordination and support for the project through statutory approvals processes. CHN is sufficiently funded to reach FID in 1HCY28. We retain our Speculative Buy recommendation on an unchanged Valuation of $4.00/sh.

From last week's closing price, this target indicates a massive 193% upside. 

Telix Pharmaceuticals has more in the tank 

Telix is a commercial-stage biopharmaceutical company focused on the ongoing development of diagnostic and therapeutic ('theranostic') products using targeted radiation.

After rising an impressive 14% last week, experts believe there is still more growth potential. 

14 analyst forecasts via TradingView have an average 12-month price target of $25.35 on these ASX shares. 

This indicates an upside potential of 56% from current levels. 

The post After rocketing 24% last week, what are experts saying about these red hot ASX shares? appeared first on The Motley Fool Australia.

The index opened sharply lower this morning, but recovered throughout the day to post a loss of just 0.086% for the session. That leaves the ASX 200 at 9,263.6 points as we head into the weekend.

This cooler end to the Australian trading week today comes after a red session up on Wall Street last night.

The Dow Jones Industrial Average Index (DJX: .DJI) had a rough time of it, losing a hefty 0.85%.

The tech-heavy Nasdaq Composite Index (NASDAQ: .IXIC) fared much better, though, dropping by just 0.057%.

But let's return to the local market now and check out how the different ASX sectors traversed today's tepid trading conditions.

Winners and losers

Despite the market's retreat, we still saw plenty of sectors record a rise today.

But first, it was financial shares that led the selling. The S&P/ASX 200 Financials Index (ASX: XFJ) was hit hard this Friday, slumping 0.95%.

Healthcare stocks weren't popular either, with the S&P/ASX 200 Healthcare Index (ASX: XHJ) tanking 0.92%.

Industrial shares were on the nose too. The S&P/ASX 200 Industrials Index (ASX: XNJ) took a 0.62% dive this session.

We could say the same for consumer discretionary stocks, illustrated by the S&P/ASX 200 Consumer Discretionary Index (ASX: XDJ)'s 0.62% dip.

Utilities shares weren't much better. The S&P/ASX 200 Utilities Index (ASX: XUJ) sank 0.43% by the end of the day.

Real estate investment trusts (REITs) didn't hold water, with the S&P/ASX 200 A-REIT Index (ASX: XPJ) drifting down 0.09%.

Our last losers this Friday were communications stocks. The S&P/ASX 200 Communication Services Index (ASX: XTJ) slipped 0.04% lower.

Let's get to the green sectors now. Leading the pack were again gold shares, as you can see from the All Ordinaries Gold Index (ASX: XGD)'s 3.45% jump.

Broader mining stocks didn't miss out either. The S&P/ASX 200 Materials Index (ASX: XMJ) soared 1.32% by the closing bell.

Tech shares also ran hot, with the S&P/ASX 200 Information Technology Index (ASX: XIJ) shooting up 0.77%.

Energy stocks were on the winning team today, too. The S&P/ASX 200 Energy Index (ASX: XEJ) advanced 0.58%.

Finally, consumer staples shares proved to be a safe haven, evidenced by the S&P/ASX 200 Consumer Staples Index (ASX: XSJ)'s 0.11% rise.

Top 10 ASX 200 shares countdown

Lithium stock Liontown Ltd (ASX: LTR) took out our top index spot this Friday. Liontown shares enjoyed a significant 9.26% surge to $1.18 today.

That came despite no news or announcements from the company.

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.

Over the month of June, shares in the S&P/ASX 200 Index (ASX: XJO) lithium stock plunged 30.2% to close on 30 June trading for $1.69 apiece.

But investors who bought shares at that price, thinking that the low might be in, will have endured a month to forget.

With only a handful of up days and a number of steep daily losses, Liontown shares closed on 31 July trading for 97 cents each. That put the share price down a painful 42.6% over the month.

What sent the ASX 200 lithium stock into a tailspin?

Several factors appear to have aligned to put Liontown shares under heavy selling pressure in July.

First, there's the ongoing retrace in global lithium prices. July saw lithium carbonate prices decline by around 10% over the month, according to data from Trading Economics.

That also saw some of the other big Aussie lithium producers sold down, though not nearly as steeply as Liontown.

Pls Group Ltd (ASX: PLS) – formerly Pilbara Minerals – shares, for example, dropped 17.3% in July, while IGO Ltd (ASX: IGO) shares declined by a more modest 6.8%.

What else sent Liontown shares lower?

Investors also bid down the ASX lithium stock over the final three days of July, following the release of Liontown's June quarter update on 29 July.

On the plus side, the miner reported that it had achieved all of its FY 2026 production and cost guidance figures. And the company reached $137 million of net cash flow for the June quarter.

Liontown sold 108,489 dry metric tonnes (dmt) of spodumene concentrate over the quarter, receiving an average realised price of US$1,880 per dmt. Despite the lower realised prices, Liontown reported a 19.3% quarter-on-quarter increase in sales revenue to $235 million.

But investors may have been selling Liontown shares amid concerns over rising costs. The company reported an all-in sustaining cost (AISC) of $1,314 per dmt sold, which was up 5% from the prior quarter.

Are Liontown shares now a good buy?

A number of brokers forecast a sizeable rebound ahead for investors who buy the ASX lithium stock following the big sell-off.

Commenting on the miner's June quarter update, Morgans said, "4Q26 revenue, unit costs and AISC all missed expectations, while production held broadly in line with consensus despite weaker recoveries."

Looking ahead, Morgans retained its buy rating on Liontown with a $1.90 price target.

That represents a 90% upside to the Liontown share price of $1 in late morning trade on Monday, 3 August.

The post Down 43%! What on earth happened with Liontown shares in July? appeared first on The Motley Fool Australia.

Unfortunately, not all ASX 200 shares climbed with the market. Here's why these were the worst-performing shares over the month:

Liontown Ltd (ASX: LTR)

The Liontown share price was the worst performer on the ASX 200 index with a decline of almost 43%. Part of this decline was driven by the release of the lithium miner's fourth-quarter update, which fell short of expectations. Morgans stated that "4Q26 revenue, unit costs and AISC all missed expectations, while production held broadly in line with consensus despite weaker recoveries." In addition, Liontown's FY27 guidance disappointed on cost and capex. Nevertheless, the broker still has a buy rating and $1.90 price target on Liontown's shares. This is almost double its current share price of 97 cents.

DroneShield Ltd (ASX: DRO)

The DroneShield share price was out of form again and sank 30% during July. Investors were selling the counter-drone technology company's shares following the release of a trading update. Although DroneShield reported strong revenue growth, it was comfortably below expectations. Bell Potter said: "1H26 revenue is expected to be $125.8m, up 74% YoY and CY26e revenue is expected to be in the range of $250-270m up 15-25% on CY25, 17-23% below VA consensus of $323m."

PEXA Group Ltd (ASX: PXA)

The PEXA Group share price wasn't far behind with a decline of 28%. This may have been driven by news that the independent Pricing and Regulatory Tribunal is proposing a ~20% reduction in the company's regulated revenue requirement via reductions to certain transfer transaction fees over a year. In response, Morgans downgraded the ASX 200 share to a hold rating with a heavily reduced price target of $9.35.

Iperionx Ltd (ASX: IPX)

The Iperionx share price was a poor performer and tumbled 25% in July. The titanium products manufacturer's shares were on the slide the whole month before the release of its quarterly update on 30 July. That update revealed major operational progress but further cash outflows. In response, Bell Potter retained its speculative buy rating but cut its price target to $5.60 (from $8.25). This is still significantly higher than its current share price of $3.05.

The post These were the worst-performing ASX 200 shares in July appeared first on The Motley Fool Australia.

Here's what's happening.

DroneShield Ltd (ASX: DRO) shares sink amid high expectations

DroneShield shares are having a week to forget.

At the time of writing, shares in the drone defence company are trading hands for $1.74, down 14.9% since last Friday's close.

The ASX 200 stock closed down 13.2% on Tuesday following a trading update.

Investor expectations were clearly high, with DroneShield shares still trading on a material premium compared to most of its defence stock peers.

This saw the stock get walloped despite reporting expectations of a 74% year-on-year increase in first half-year (H1 2026) revenue to $125.8 million. And the company forecast that full-year revenue will be in the range of $250 million to $270 million, up 15% to 25% from 2025.

Liontown Resources Ltd (ASX: LTR) shares sink on rising costs

Liontown shares also took a big hit this week on the heels of the company's June quarter update.

At the time of writing, shares in the Aussie lithium producer are trading for 98 cents apiece. That sees this ASX 200 stock down 17.5% over the week.

Investors have been favouring their sell buttons, despite Liontown meeting all of its FY 2026 production and cost guidance figures. And June quarter sales revenue of $235 million was up 19.3% from the prior quarter.

The ASX lithium stock also boosted its cash at bank balance by 260% over the last year to $561 million as at 30 June.

Potentially giving investors the jitters, Liontown reported an all-in sustaining cost (AISC) of $1,314 per dry metric tonne (dmt) sold, up 5% quarter on quarter.

Which brings us to…

Stanmore Resources Ltd (ASX: SMR) shares tumble on update

The third ASX 200 stock tumbling in this week's rising market is Stanmore Resources.

At time of writing, shares in the ASX coal miner are trading for $2.42 each, putting the Stanmore share price down 15.3% since last Friday's close.

The stock came under heavy selling pressure on Tuesday and Wednesday following the miner's quarterly operational update.

Like DroneShield and Liontown, the sell-down came despite a relatively solid performance.

Over the three months, Stanmore reported ROM coal production of 5.1 million tonnes, up 27% quarter on quarter. And saleable production of 3.3 million tonnes was up 3%.

However, investors may have been hoping for an upgrade in Stanmore's full-year 2026 production or earnings guidance, which remained unchanged.

The post Why these 3 ASX 200 stocks are crashing in this week's surging market appeared first on The Motley Fool Australia.