That's because if Bell Potter is on the money with its recommendation, this gold miner's shares could provide big returns over the next 12 months.

Which ASX 200 gold stock?

The gold stock that Bell Potter is bullish on is Genesis Minerals Ltd (ASX: GMD). It is a gold miner focused on the prolific Leonora District in Western Australia.

Bell Potter was pleased with its half-year results, noting that its revenue and earnings were largely in line with expectations. It said:

Highlights of GMD's 1HFY26 financial result include: Revenue of A$820m, a 142% increase vs PcP (BPe A$814m & VA A$814m); COGS were A$371m, an 85% increase vs PcP, as production ramped up across the two production centres. Costs were mildly ahead of our estimates and consensus after adjusting for depreciation and amortisation; EBITDA in the first half was A$430m (BPe A$441m, VA A$430m). NPAT was A$238m, a 4x increase on the PcP of $59.8m, driven by a higher achieved gold price and increased production. The result was largely in line with our estimate and ~2% below consensus.

The other big news is that the ASX 200 gold stock has signed an agreement to acquire Magnetic Resources NL (ASX: MAU) for $639 million. Bell Potter points out that this deal puts the company on a production pathway to 500,000 ounces per annum. This compares to its current guidance for FY 2026 of 260,000 ounces to 290,000 ounces. The broker said:

The acquisition adds 2.2Moz in Resources (acquisition cost A$290/oz Resource). The acquisition brings potentially higher-grade inventories into the Laverton mill (~20km away), helping lift production and supplementing lower grade ounces from Jupiter. The long-term growth guidance update has been pushed back, with management now targeting 1QFY27 (previously 2HFY26). A statement was made on mill expansion capacity targets of between 3.5-4.0Mtpa at Tower Hill, whether this supplements the existing Leonora mill (1.4Mtpa) or replaces it is uncertain.

Time to buy

According to the note, the broker has retained its buy rating and $9.90 price target on the ASX 200 gold stock.

Based on its current share price of $6.87, this implies potential upside of 44% for investors over the next 12 months.

Commenting on its buy recommendation, Bell Potter said:

We maintain our TP of $9.90 and Buy recommendation. We believe GMD to be a high-quality gold producer, expanding production underpinned by a large Mineral Resource portfolio (21.0Moz pending completion of MAU transaction), into a rising gold price environment.

The post Why this growing ASX 200 gold stock could rise 40% appeared first on The Motley Fool Australia.

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

A2 Milk Company Ltd (ASX: A2M)

The A2 Milk share price is up 4.5% to $8.90. Investors have been buying this infant formula company's shares following the release of its half-year results. A2 Milk delivered a strong first-half performance and upgraded its guidance for FY 2026. With respect to the latter, management now expects revenue growth in the mid double-digit percentage range (from low double-digits) compared to FY 2025 continuing operations. A2 Milk's managing director and CEO, David Bortolussi, said: "Our upgraded outlook means we are now on track to achieve our $2 billion medium term sales ambition in FY26, a full year ahead of plan. This is testament to the execution of our team and the strength of the a2 brand."

Aurizon Holdings Ltd (ASX: AZJ)

The Aurizon Holdings share price is up 6% to $3.81. This has been driven by the release of the rail freight operator's half-year results this morning. Aurizon reported a 16% increase in net profit after tax to $237 million. This allowed the company to increase its 90%-franked interim dividend by 36% to 12.5 cents per share. Aurizon's managing director and CEO, Andrew Harding, said: "Today's results underscore the strength of Aurizon's two largest business units, Network and Coal and the continued growth of Bulk and Containerised Freight."

JB Hi-Fi Ltd (ASX: JBH)

The JB Hi-Fi share price is up almost 7% to $81.81. The catalyst for this has been the release of the retail giant's half-year results. JB Hi-Fi revealed a 7.3% increase in total sales to $6.1 billion and a 7.1% lift in net profit after tax to $305.8 million. Management advised that its focus on value supported its performance. JB Hi-Fi's CEO, Nick Wells, said: "We are pleased to report record sales and strong earnings for HY26, as we built on the momentum of the previous year. In a retail environment where customers are seeking value, our brands continue to resonate strongly and our teams continue to execute to a high standard."

Magnetic Resources NL (ASX: MAU)

The Magnetic Resources share price is up 27% to $2.03. This follows news that the gold explorer has received and accepted a takeover offer from Genesis Minerals Ltd (ASX: GMD). Magnetic shareholders will receive $1.40 cash and 0.0873 new Genesis shares for every share they own. This implies a value of $2.00 per share and values Magnetic Resources at ~$639 million. Genesis executive chair, Raleigh Finlayson, said: "This transaction creates substantial value for both groups of shareholders, delivering genuine synergies while combining the right assets with the right people. Magnetic's Lady Julie Gold Project will add more than 2Moz at an attractive high grade to Genesis' Laverton inventory, further bolstering the mine life and production outlook."

The post Why A2 Milk, Aurizon, JB Hi-Fi, and Magnetic Resources shares are storming higher today appeared first on The Motley Fool Australia.

Magnetic Resources shareholders will receive $1.40 in cash and 0.0873 Genesis Minerals shares for each of the shares they own, with the bid having an implied value of $2 per share.

Magnetic shareholders would also have the option to receive their payment entirely in cash or scrip.

Magnetic Resources shares last traded at $1.60 before the offer, which is being endorsed by the company's board, was announced.

Complementary assets

In an announcement to the ASX on Monday morning, Genesis said that Magnetic's Lady Julie gold project, which has a mineral resource of about 2.2 million ounce of gold at a grade of 1.8 grams per tonne, offered a clear pathway "to supply incremental open pit and underground ore to Genesis' operating three million tonne per annum Laverton mill about 20km away''.

The company added:

Lady Julie's northern boundary borders the land acquired by Genesis via its recent acquisition of Focus Mineral's Laverton Gold Project, meaning there is scope for substantial synergies and cost savings by allowing Lady Julie to integrate into a much larger open pit operation.  

The company said there was also the opportunity to derisk the development of Lady Julie by applying Genesis' existing processing infrastructure and proven mining expertise.

Genesis added that there was "compelling exploration upside" along strike and down dip at Lady Julie.

Long-term plan in the wings

The company also said it would release an updated, multi-year strategic plan following the completion of the takeover.

Genesis Chair Raleigh Finlayson said the deal made sense for shareholders of both companies.

This transaction creates substantial value for both groups of shareholders, delivering genuine synergies while combining the right assets with the right people". "Magnetic's Lady Julie Gold Project will add more than 2Moz at an attractive high grade to Genesis' Laverton inventory, further bolstering the mine life and production outlook". "Shareholders of both companies will benefit by leveraging Genesis' existing infrastructure, including the 3Mtpa Laverton mill, and through the savings which would flow from a single open pit development.

Magnetic Managing Director George Sakalidis said the deal's announcement followed a strategic review which the board and its advisers had been working on for several years, "to explore potential options to collaborate with other operators which have the existing skill set or combination synergies to develop Magnetic's discoveries and unlock value for our shareholders''.

He added:

This proposal provides an opportunity for shareholders to realise an attractive premium, with the flexibility to accept cash or shares in Genesis. Exchanging Magnetic shares for Genesis shares will enable Magnetic shareholders to retain exposure to Lady Julie with the benefit of Genesis' best-in-class project development team, diversified operating cash flow and robust balance sheet.

Shaw and Partners recently put a price target of $4 per share on Magnetic Resources.

Genesis Minerals was valued at $8.22 billion at the close of trade on Friday.

The post Genesis Minerals lobs takeover bid for Magnetic Resources appeared first on The Motley Fool Australia.

Magnetic's flagship asset is the Lady Julie gold project in Western Australia, where the company in January released an updated mineral resource of 39.1 million tonnes of ore containing 2.24 million ounces of gold.

More than 80% of the resource was also in the high-confidence "indicated category''.

Deposit continues to deliver

Managing Director George Sakalidis said at the time that the LJN4 deposit at the project "continues to deliver" and was an "exceptional ore body''.

He added:

LJN4 is one of the largest and highest grade undeveloped open pit deposits in Western Australia. With the feasibility study completion and the permitting process advancing, Magnetic is rapidly evolving to a position of being 'shovel ready' for development.

The company said that further infill and extension drilling were being carried out to extend the resource.

The company explained:

LJN4 represents an excellent development proposition and is now significantly larger than the resource considered in the LJGP Feasibility Study (released to the ASX on 23 July 2025), both in scale and detail, with the depth of information now available providing increased confidence in the viability of the proposed development and associated value available to be unlocked.

Plenty of share price upside

Shaw & Partners analysts have had a look at Magnetic's plans, and it's fair to say they like what they see.

They said in a note to clients:

Magnetic Resources is entering a critical phase for regulatory de-risking. Management expects to satisfy all Mines Department requirements within 2-3 months, leading to mining approval. With native title in place, the current focus is on finalising technical studies required by regulators, including hydrogeological work and geotechnical drilling for waste and tailings infrastructure.   

They noted that Magnetic was also updating its economic studies to take into account a significantly higher gold price, with the feasibility study released in July using a gold price of $4000, while current spot gold prices were closer to $7000.

There were several catalysts for operational upside, as the Shaw team said:

The updated study will also incorporate an additional 280koz-350koz from underground that were excluded from prior iterations. MAU is shifting from an owner-operator model to contracting, which will reduce upfront capex materially. Metallurgical improvements are also being investigated, such as using gravity circuits instead of flotation, which could increase gold recoveries by 3%- 4% above the current 92% average.

Shaw has a target price of $4 per share on the stock, compared with a share price of $1.61 currently.

If that price is achieved, it would constitute a return of 148.4%.

The post This gold stock could deliver almost 150% upside, one broker says appeared first on The Motley Fool Australia.

The company said it had completed a number of deep diamond drill holes at the project's LJN4 deposit, with the aim to "boost confidence in the northern portion of the current resource, and to expand the resource at depth''.

Following this work, the company said the combined resource of the Lady Julie project now exceeded 39.1 million tonnes of ore containing 2.24 million ounces of gold, with more than 80% of this resource falling into the high confidence "indicated" category.

Magnetic Resources Managing Director George Sakalidis said the project had an "exceptional orebody''.

He went on to say:

In terms of resources, LJN4 alone now exceeds 2 million ounces, with 2.42 million ounces in the overall Laverton Project. This upgrade is significant because it confirms previous interpretations and builds confidence in the overall estimate. LJN4 is one of the largest and highest grade undeveloped open pit deposits in Western Australia. With the feasibility study completion and the permitting process advancing, Magnetic is rapidly evolving to a position of being 'shovel ready' for development.

Further drilling on the cards for ASX gold stock

The company said more infill and extension drilling was being carried out with a view to extending the resource even further. A total of 14 holes is expected to be drilled as part of this campaign.

The company said it was well placed, given that the extensions to the resource estimate went beyond what was in last year's feasibility study.

As the company said:

LJN4 represents an excellent development proposition and is now significantly larger than the resource considered in the feasibility study (released to the ASX on 23 July 2025), both in scale and detail, with the depth of information now available providing increased confidence in the viability of the proposed development and associated value available to be unlocked. With the feasibility study completion and the permitting process advancing, Magnetic is rapidly evolving to a position of being "shovel ready" for development.

The feasibility study released last year estimated an initial capital cost to build a mine of $375 million, and an average all-in sustaining cost of production of $1908 per ounce of gold.

This compares with the current price of gold in Australian dollars of $6902.28.

The mine was expected to have a life of nine years; however, that was calculated with a mineral reserve of just 997,300 ounces of gold.

Magnetic  Resources shares were changing hands for $1.41, up 4.4% on Monday morning.  

Magnetic Resources was worth $198.9 million at the close of trade on Friday.

The post This gold producer has just boosted resources at its flagship WA project appeared first on The Motley Fool Australia.

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

Aeris Resources Ltd (ASX: AIS)

The Aeris Resources share price is up 6.5% to 41 cents. This morning, the copper miner announced that it has received the net proceeds from its $80 million placement. A portion of the proceeds has now been applied to fully repay the and cancel the $50 million (drawn to $40 million) loan facility with Washington H. Soul Pattison (ASX: SOL). The early repayment is expected to save an estimated $6 million in interest and associated fees.

Amcor (ASX: AMC)

The Amcor share price is up 5% to $12.78. This follows the release of the packaging company's quarterly update. Amcor reported a 68% jump in net sales to US$5,745 million and a 92% increase in adjusted EBITDA to US$909 million. This was the first full quarter following the transformational acquisition of Berry Global, which completed in late April. Amcor's CEO, Peter Konieczny, said: "We are now seeing the quality of the combined business as the global leader in consumer packaging and dispensing solutions for nutrition, health, beauty and wellness. We are gaining traction with synergy realization, including commercial synergies, and have solid pipelines which continue to grow."

Light & Wonder Inc (ASX: LNW)

The Light & Wonder share price is up 10% to $126.82. Investors have been buying the gaming technology company's shares following the release of its quarterly update. Light & Wonder posted a 3% increase in revenue to $841 million and a 25% jump in net profit before amortisation to $153 million. The company's President and Chief Executive Officer, Matt Wilson, said: "Our R&D engine continues to deliver world-class content, reflected in another strong quarter for Gaming operations and record iGaming performance. We are reinvesting in the business to drive long-term sustained growth, as evidenced by the number and quality of new games and hardware showcased at this year's G2E."

Magnetic Resources (ASX: MAU)

The Magnetic Resources share price is up 4% to $1.24. This morning, this mineral exploration company released further drilling results. The release notes that the latest drilling is interpreted to be a new further northern fourth core zone or represents a further northern extension of the High-Grade Core 3.

The post Why Aeris, Amcor, Light & Wonder, and Magnetic Resources shares are rising today appeared first on The Motley Fool Australia.

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

Austin Engineering Ltd (ASX: ANG)

The Austin Engineering share price is down 3.5% to 41.5 cents. This is despite there being no news out of the mining services provider. However, as it is considered a value stock on a low price to earnings ratio, which have fared better than most during recent volatility, it could have been left behind in today's rally.

Magnetic Resources NL (ASX: MAU)

The Magnetic Resources share price is down 4% to $1.34. This may have been driven by profit taking after its shares raced higher on Wednesday. Investors were buying the company's shares after it revealed strong drilling results. Management advised that a new composite comprising diamond drill core from the deeper section of the deposit demonstrated a 97.5% recovery with the optimised flotation circuit. Management believe that this is a spectacular increase over the potential recovery achieved with conventional gravity/leach of 88%.

Meridian Energy Ltd (ASX: MEZ)

The Meridian Energy share price is down 1% to $5.32. This appears to have been driven by investors rotating out of safe haven assets to take advantage of the market rebound. As a utility stock, Meridian Energy is a popular option for investors when the share market goes through a heightened levels of volatility.

Minerals 260 Ltd (ASX: MI6)

The Minerals 260 share price is down 15% to 11 cents. This follows news that the gold developer has successfully completed a $220 million capital raising to underpin the 100% acquisition and advancement of the Bullabulling Gold Project in Western Australia. Management notes that the capital raise was completed following strong support from new international and domestic institutions, in addition to support from existing shareholders. Each Minerals 260 director and all key management participated in the raising, with total contributions of $12.7 million, including $12 million invested by the company's chairman, Tim Goyder, and his nominees. Goyder said: "The successful completion of this capital raising is a significant achievement for the Company. The raising was strongly supported by both global and domestic institutions and our existing shareholders. Minerals 260 is now in a position to complete the acquisition of the Bullabulling Gold Project, re-commence trading on the ASX and begin our aggressive drilling campaign."

The post Why Austin Engineering, Magnetic Resources, Meridian Energy, and Minerals 260 shares are tumbling today appeared first on The Motley Fool Australia.

Four ASX shares that are not letting that hold them back  are listed below. Here's why they are rising:

Antipa Minerals Ltd (ASX: AZY)

The Antipa Minerals share price is up 1.5% to 40 cents. This morning, the company revealed that IGO Ltd (ASX: IGO) has elected to withdraw from the Paterson Project farm-in agreement that was entered into in July 2020. As a result, Antipa Minerals retains 100% ownership of the project which fully surrounds the Minyari Dome Development Project area and its 2.3 million oz of gold and 83,500 tonnes of copper.

Cettire Ltd (ASX: CTT)

The Cettire share price is up 5% to 64 cents. This online luxury products retailer's shares are down by a third since this time last month and over 80% since this time last year. This could mean that bargain hunters are swooping in today. In addition, it is possible that as one of the the most shorted shares on the ASX, some short sellers could be buying back shares today in order to close their positions.

Magnetic Resources NL (ASX: MAU)

The Magnetic Resources share price is up 4% to $1.40. This follows the release of a drilling update this morning. Magnetic Resources revealed that a new composite comprising diamond drill core from the deeper section of the deposit demonstrated a 97.5% recovery with the optimised flotation circuit. Management believe that this is a spectacular increase over the potential recovery achieved with conventional gravity/leach of 88%.

Steadfast Group Ltd (ASX: SDF)

The Steadfast share price is up 1.5% to $5.51. This is despite there being no news out of the insurance broker company. However, given how defensive its business is, some investors may see it as a good option in the current environment. Goldman Sachs certainly does. The broker recently put a buy rating and $6.50 price target on Streadfast's shares. This implies potential upside of 18% from current levels. It said: "We like SDF because of the industry structure favouring insurance brokers. 1) Premium rate environment remains supportive of organic growth trends (albeit moderating); 2) Little to no exposure to underwriting risk with revenues largely dependent on premiums written."

The post Why Antipa, Cettire, Magnetic Resources, and Steadfast shares are pushing higher appeared first on The Motley Fool Australia.

Four ASX shares that are not letting that hold them back are listed below. Here's why they are rising:

APA Group (ASX: APA)

The APA Group share price is up 1% to $7.52. Investors appear to have been buying this energy infrastructure company's shares during today's market selloff due to its status as a safe haven asset. The team at Ord Minnett would likely be supportive of this buying. Last month, the broker put a buy rating and $8.60 price target on its shares. This implies potential upside of 14% for investors over the next 12 months. It also expects dividend yields in the region of 8% through to at least FY 2030. This stretches the total potential 12-month return to approximately 22%.

Aurelia Metals Ltd (ASX: AMI)

The Aurelia Metals share price is up 10% to 22.5 cents. This is despite there being no news out of the gold miner on Tuesday. Though, it is worth noting that its shares have been on fire this year and this is a continuation of their upward trend. The catalyst for this has been the company's strong performance so far in FY 2025. Last month, Aurelia Metals reported a 53% increase in half-year underlying EBITDA to $49.7 million and a 949% jump in underlying net profit after tax to $15.6 million. CEO, Bryan Quinn, said: "Strategically our business remains on track to grow in the Cobar region with increasing copper equivalent production. Increasing tonnes processed at Peak from 700kt in FY25 towards 1.1-1.2mtpa will deliver significantly more cash flow and profits from our business."

Magnetic Resources (ASX: MAU)

The Magnetic Resources share price is up 4% to $1.44. This gold explorer's shares have been pushing higher this month thanks to promising drilling results. Magnetic Resources revealed that its latest drilling has defined a new most northern third 150m x 400m high-grade core which remains open at depth.

ResMed Inc (ASX: RMD)

The ResMed share price is up almost 3% to $37.42. This sleep disorder treatment company's shares were among a small group of shares that avoided the selloff on Wall Street overnight and pushed higher. Goldman Sachs would no doubt be encouraging investors to buy shares following recent weakness. Last week, the broker added ResMed's shares to its coveted conviction list with a buy rating and $49.00 price target. This implies potential upside of approximately 31% for investors between now and this time next year.

The post Why APA, Aurelia Metals, Magnetic Resources, and ResMed shares are rising today appeared first on The Motley Fool Australia.

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

Magnetic Resources NL (ASX: MAU)

The Magnetic Resources share price is down over 4% to $1.30. This follows news that the gold developer has successfully completed a $10 million single tranche placement to sophisticated, professional, and institutional investors. Management notes that the placement received significant demand and was oversubscribed. These funds were raised at $1.25 per new share. Managing Director, George Sakalidis, said: "The Lady Julie Gold Project in Laverton continues to expand in size, and with an increasing gold price, the Company continues to be excited by the potential for a financially robust low-cost, high margin gold production."

Newmont Corporation (ASX: NEM)

The Newmont share price is down 3% to $77.72. This appears to have been driven by a pullback in the gold price on Friday night. According to CNBC, the gold futures price was down 1% to US$2,668.1 an ounce. This is likely to have been caused by profit taking from traders after strong gains recently. In fact, the gold price remains on course for its best quarter in eight years despite this decline. Newmont's shares also remain up 28% since the start of the year.

Predictive Discovery Ltd (ASX: PDI)

The Predictive Discovery share price is down 2% to 26.5 cents. This may also have been caused by the pullback in the gold price on Friday night. In other news, the gold miner released a drilling update this morning. Commenting on drilling, managing director, Andrew Pardey, said: "We are encouraged by initial resource definition drilling at Sounsoun, which recorded positive intercepts and has defined a shear zone which hosts mineralisation over a strike of at least 700m. […] Resource definition drilling is also underway at the Fouwagbe target and we are looking forward to receiving results from this program."

Webjet Group (ASX: WJL)

The Webjet Group share price is down 8.5% to 99.7 cents. This online travel agent's shares have come under pressure today despite there being no news out of it. However, it is worth noting that its shares have rallied strongly since its demerger from Web Travel Group Ltd (ASX: WEB). Furthermore, last week Morgans put an add rating and 95 cents price target on its shares. On Friday, it closed the session comfortably higher at $1.10.

The post Why Magnetic Resources, Newmont, Predictive Discovery, and Webjet shares are falling today appeared first on The Motley Fool Australia.

Four ASX shares that are not letting that hold them back are listed below. Here's why they are rising:

Domino's Pizza Enterprises Ltd (ASX: DMP)

The Domino's Pizza share price is up 1.5% to $30.03. This is despite there being no news out of the pizza chain operator. However, this could have been driven by bargain hunters swooping in on the belief that its shares were oversold last week.

Encounter Resources Ltd (ASX: ENR)

The Encounter Resources share price is up over 11% to 59 cents. This morning, this niobium and rare earths elements explorer released drilling results from the intersection of the Elephant Island and Stromness Faults. According to the release, the drilling has intersected further mineralised carbonatite in the West Arunta region of Western Australia. Executive Chairman Will Robinson said:
"The extremely thick carbonatite that has been drilled at this location supports an interpretation that the Elephant Island Fault corridor is a significant regional scale control for the emplacement of mineralised carbonatites in the West Arunta. This has important implications for future exploration along this corridor and other structural corridors across the project area."

Magnetic Resources NL (ASX: MAU)

The Magnetic Resources share price is up 7% to $1.58. This morning, this gold developer released an economic update on its 100% owned Lady Julie Gold Project in the Laverton gold region of Western Australia. A study confirmed that it is a financially attractive standalone project with low cost, high margin gold production of 817,470 ounces. This means an average of 104,000 ounces per year over an 8-year life of mine. Magnetic Resources' managing director, George Sakalidis, said: "The excellent outcomes demonstrate that Magnetic's Lady Julie Gold Project is one of the high margins, undeveloped gold projects in Australia."

ResMed Inc. (ASX: RMD)

The ResMed share price is up 3% to $32.74. This follows a rise from the sleep disorder treatment company's US listed shares on Friday night in response to the release of a strong quarterly update. In other news, analysts at Macquarie have retained their outperform rating on its shares with an improved price target of $36.25. The broker was pleased with the update and notes that its margins and guidance for FY 2025 were ahead of expectations. In light of this, it continues to see a lot of value in ResMed's shares and named it as one of its top picks in the sector.

The post Why Domino's, Encounter, Magnetic Resources, and ResMed shares are rising today appeared first on The Motley Fool Australia.

Let's take a look at four stocks that are avoiding the selloff and recording strong gains:

Arcadium Lithium (ASX: LTM)

The Arcadium Lithium share price is up 3.5% to $5.17. This follows a very strong gain for the lithium miner's NYSE listed shares overnight. They rose 12% on Wall Street after investors piled back into lithium stocks. It remains unclear why lithium stocks are suddenly rebounding but it could potentially be due to short sellers believing that they have now bottomed and are buying back shares to close their positions.

Encounter Resources Ltd (ASX: ENR)

The Encounter Resources share price is up almost 12% to 62.5 cents. This means that the mineral exploration company's shares are now up over 80% since this time last week. Investors have been buying its shares since announcing high-grade niobium intercepts at the Aileron project in West Arunta. The ASX mining share's managing director, Will Robinson, commented: "Aircore drilling is opening up new fronts of shallow niobium-REE carbonatite hosted mineralisation at Aileron. The aircore rig completed over 10,000m of drilling in its first month on site. This drilling has expanded the near surface footprint of the Crean, Hurley and Emily carbonatites."

Magnetic Resources NL (ASX: MAU)

The Magnetic Resources share price is up 4% to $1.07. This morning, this gold explorer released drilling results from the Laverton Project. According to the release, its drilling shows that the 400m northern part of the 750m long LJN4 deposit plunges to the south east and is much larger than previously estimated. It is also bigger than the southern silica pyrite and breccia zone. In addition, the company revealed that outstanding intersections continue with strong grades. The company said: "Interestingly, similarly to other world class multi- million-ounce deposits in the Laverton region, we have already identified 8 stacked lodes in the central part of LJN4. We have now completed a 717m hole below these stacked lodes and results are pending."

Sayona Mining Ltd (ASX: SYA)

The Sayona Mining share price is up 7% to 3.75 cents. Once again, this follows strong gains for lithium stocks on Wall Street overnight. It may be worth looking at short interest data in the coming days to see if short sellers have been closing out of their positions. As of Monday, this ASX mining share had short interest of 9.8%.

Editor's note: A previous version of this article misquoted the Sayona Mining share price as 37.5 cents instead of the correct 3.75 cents per share.

The post 4 ASX mining shares going gangbusters while the market dives appeared first on The Motley Fool Australia.

While this is positive, it is nothing compared to some of the gains being made on the index on Thursday.

Here's why these ASX All Ords shares are up over 10% today:

Chalice Mining Ltd (ASX: CHN)

The Chalice Mining share price is up 12% to $1.36. This is despite there being no news out of the mineral exploration company on Thursday.

However, it is worth highlighting that the ASX All Ords share has been hammered over the last 12 months. So, this could mean that bargain hunters are swooping in today.

In addition, short sellers have been targeting its shares. It's possible that some short sellers are buying shares to close their positions.

Magnetic Resources NL (ASX: MAU)

The Magnetic Resources share price is up 12% to $1.09. Investors have been buying the gold developer's shares following the release of the pre-feasibility study (PFS) from the 100% owned Lady Julie Gold Project in Western Australia.

As you might have guessed from the share price reaction, the study has delivered strong results.

According to the release, the PFS confirms that Lady Julie is a financially robust project with low-cost, high margin gold production of 720,000 ounces over a nine-year life of mine.

Management estimates that this will generate total EBITDA of A$982 million at a gold price of A$2,800 per ounce. Furthermore, this increases to A$1,191 million based on current spot prices.

Zip Co Ltd (ASX: ZIP)

The Zip share price is up 13% to $1.32. This has been driven by the release of a broker note out of UBS this morning.

According to the note, the broker has upgraded Zip's shares to a buy rating with a $1.43 price target from just 36 cents.

UBS has been impressed with Zip's improving profitability and user growth in the key United States market. It also believes that its margins can improve from cost control efforts and new product launches.

The post 3 ASX All Ords shares rocketing over 10% today appeared first on The Motley Fool Australia.

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

Life360 Inc (ASX: 360)

The Life360 share price is up 4.5% to $11.89. Investors have been buying this location technology company's shares this week after brokers responded positively to its FY 2023 results release. For example, Goldman Sachs reiterated its buy rating with an improved price target of $14.20. This implies further upside of almost 20%.

Evolution Mining Ltd (ASX: EVN)

The Evolution Mining share price is up 2% to $3.27. Investors have been buying Evolution and other ASX gold shares again today after the price of the precious metal hit a new record high. Traders were bidding the gold price higher overnight on rate cut optimism. In other news, the gold miner reported some insider buying this morning.

Magnetic Resources NL (ASX: MAU)

The Magnetic Resources share price is up 12% to $1.09. This follows the release of the pre-feasibility study of the 100% owned Lady Julie Gold Project in Western Australia. The study confirms that Lady Julie is a financially robust project with low-cost, high margin gold production of 720,000 ounces over a nine-year life of mine.

Zip Co Ltd (ASX: ZIP)

The Zip share price is up 10% to $1.29. Investors have been buying this payments company's shares after it was the subject of a bullish broker note out of UBS. According to the note, the broker has upgraded Zip's shares to a buy rating with a $1.43 price target. UBS has been impressed with the company's performance in the US. Its previous rating was neutral with a lowly 36 cents price target.

The post Why Life360, Evolution Mining, Magnetic Mining, and Zip shares are rising today appeared first on The Motley Fool Australia.

Below we take a look at the company's latest drilling results.

ASX gold share defines new range of targets

Magnetic Resources shares are gaining in morning trade. This comes after the ASX gold explorer reported it had defined multiple new gold targets at its Lady Julie project in Western Australia. The new targets are located across 9 areas totalling 14 kilometres.

The company combined its own recent 2D seismic survey with historical drilling data and results from its recent major drill campaigns to define the new targets. Areas that were not previously tested returned "new significant intersections".

It also reported the best-looking target as the 3-kilometre long HN9 mineralisation. Other potentially juicy targets are the 3.4 kilometre long Lady Julie North and 1.5 kilometre long Lady Julie Central.

At Lady Julie North, Magnetic Resources reported intersections including 18 metres at 2.1grams/tonne gold from 32 metres and 13 metres at 1.37g/t Au from 3 metres.

The ASX gold explorer said numerous untested areas remain. Magnetic Resources has also planned additional drilling at an area labelled Lady Julie North 2.

According to the release, the results represent completed assays from 55% of the total metres drilled in the exploration program. Another 117 reverse circulation (RC) drill holes have assays pending.

A new rig has already started on the site. Additionally, Magnetic Resources also plans to drill 79 holes for 7,844 metres to test and extend all 9 of the identified targets "with the aim of ultimately converting to an Indicated Resource".

With the gold price rising strongly over the past month, ASX gold explorers are getting near historic highs for any of the yellow metal they do uncover. One ounce of gold is currently worth US$1,908 (AU$2,478) per ounce. As recently as 30 March gold was down at US$1,685 per ounce.

Magnetic Resources share price snapshot

Magnetic Resources shares have gained 27% over the past 12 months, edging ahead of the 24% gains posted by the All Ordinaries Index (ASX: XAO).

Year-to-date the ASX gold explorer's share price is up 30%.

The post Why ASX gold explorer Magnetic Resources (ASX:MAU) shares are lifting appeared first on The Motley Fool Australia.