Brokers have reduced their ratings on six ASX shares this week.

Let's take a look.

AMP Ltd (ASX: AMP)

The AMP share price is $2.47, up 2.3% today. 

Over the past month, this ASX 200 financial share has fallen 0.2%.

UBS downgraded AMP shares to a hold rating with a $2.61 target this week.

This implies a potential 5% upside ahead.

Fortescue Ltd (ASX: FMG)

The Fortescue share price is $15.45, down 2.2% today.

Over the past month, this ASX 200 mining share has fallen 12%.

Morgans downgraded Fortescue shares from hold to trim yesterday.

The broker slashed its 12-month price target from $18.70 to $15.40.

This suggests the stock is already fully valued.

Meteoric Resources Ltd (ASX: MEI)

The Meteoric Resources share price is 24 cents, up 0.8% today.

Over the past month, this ASX mining share has jumped 21%.

Ord Minnett downgraded Meteoric Resources shares to a hold rating this week.

The broker has a 12-month price target of 25 cents.

This suggests just a 3% potential upside ahead.

Orica Ltd (ASX: ORI)

The Orica share price is $22.98, up 0.6% today.

Over the past month, this ASX 200 materials share has edged 0.3% higher.

Morgans downgraded Orica shares from buy to accumulate this week.

The broker shaved its price target from $26.60 to $26.52.

This indicates potential gains of 15% over the next 12 months.

The broker said: 

ORI has updated the market on its US AN sourcing, non-core land sale, recent acquisitions, cost out program and FY26 business performance. The important point is that the broader business continues to perform strongly, in line with its expectations.

We have trimmed our FY27 NPAT forecast by 3.6% reflecting increased AN sourcing costs in the US, more gradual recovery in Indonesia coal production, plant turnarounds and higher interest costs given the Deer Park sale isn't going through.

SKS Technologies Group Ltd (ASX: SKS)

The SKS Technologies Group share price is $8.60, down 2.4% today.

Over the past month, this ASX industrials share has risen 7%.

PAC Partners downgraded SKS Technologies shares to a hold rating on Wednesday.

The broker raised its price target from $10.20 to $10.56.

This implies a potential 24% upside over the next year.

Bank of Queensland Ltd (ASX: BOQ)

The Bank of Queensland share price is $6.45, up 1.1% today.

Over the past month, this ASX 200 financial share has fallen 1%.

Morgans downgraded Bank of Queensland shares from accumulate to hold this week.

The broker cut its 12-month price target from $6.94 to $6.40.

This suggests the bank stock is fully valued.

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

The deal would grant Meteoric shareholders 0.0207 Lynas shares for each of the shares they held, valuing the deal at 26.6 cents.

Meteoric shares jumped 50% on the news to 25.5 cents.

Does the deal fully value Meteoric shares?

While the deal would pay a solid premium to Meteoric shareholders, it falls well short of a price target for the company issued by Canaccord Genuity in a research note published in July, which said Meteoric was worth 40 cents per share.

At the time, the broker was very positive on a deal which Meteoric had signed with Korean giant Posco, relating to the development of Meteoric's Caldeira rare earths project in Brazil.

CG said regarding the deal:

POSCO is one of the world's largest steel producers, having had long-standing and deep involvement in upstream mining and resource projects in Australia and Brazil. In addition to steel producing inputs, POSCO has a presence in critical minerals including lithium and rare earths. In our view, the proposed partnership with POSCO is a major positive for MEI, through not only offtake (and favourable pricing mechanisms which could improve economics relative to China benchmarks), but perhaps just as importantly through its scale and access to capital and what this means for project financing.

Lynas talks up benefits of scale

Lynas said on Thursday that Meteoric shareholders would benefit from its expertise in managing rare earths projects.

The company said:

Meteoric shareholders benefit from a significant control premium and unlocking of Caldeira's value through Lynas' strong balance sheet and proven experience in developing and operating rare earth projects, while also receiving immediate exposure to the only commercial producer and supplier of light and heavy rare earth oxides outside of China. Lynas' ownership also brings opportunities to develop downstream processing in Brazil.

The Meteoric board has unanimously recommended the deal in the absence of a better offer, and Tolga Kumova, Meteoric's largest shareholder with a 6.7% stake, also supports the deal.

Lynas Chair John Humphrey said:

Lynas is very pleased with the potential to bring together the Caldeira deposit which is the largest known ionic clay rare earth Mineral Resource outside China reported in accordance with the JORC Code, and Lynas' high grade Mt Weld deposit and leading rare earth operations. This will deliver on our Towards 2030 growth objective of adding resource and scale. Expanding our operations into a new country will help Lynas maintain its leading position in the global rare earths supply chain and meet increased customer demand for rare earth materials.

Lynas shares were 5.9% lower at $13.01.

The post Which junior ASX mining stock has surged 50% on big news? appeared first on The Motley Fool Australia.

What did Lynas report?

• Lynas to acquire 100% of Meteoric Resources through a scheme of arrangement.
• Meteoric shareholders will receive 0.0207 new Lynas shares per Meteoric share held.
• Implied offer value of A$0.286 per Meteoric share, a 68.4% premium to last closing price.
• The transaction is valued at A$968 million (fully diluted, 60-day VWAP basis).
• Post-acquisition, Lynas shareholders will own ~94.1% and Meteoric shareholders ~5.9% of Lynas.
• Lynas will provide a working capital facility of up to A$110 million to support Caldeira's development and costs.

What else do investors need to know?

The acquisition will bring Meteoric's Caldeira Project—one of the world's largest ionic clay rare earths deposits—into the Lynas portfolio. Caldeira boasts a mineral resource of 1,631Mt @ 2,317ppm TREO and an Ore Reserve of 151Mt @ 3,524ppm TREO, with a projected 23-year mine life.

Meteoric's board and largest shareholder have unanimously recommended the deal, provided no superior offer arises and subject to an independent expert's positive conclusion. The transaction is still subject to regulatory and court approvals, and the Scheme Booklet is expected to be dispatched in December 2026.

What's next for Lynas?

Lynas expects the all-scrip structure to preserve its strong balance sheet, allowing continued funding for both Caldeira's development and other growth initiatives. The company plans to integrate Meteoric's team and expertise, ensuring continuity for the Brazil-based project.

With this acquisition, Lynas will significantly diversify its resource base, expanding its global footprint and enhancing supply of critical minerals at a time of robust demand. Investors should watch for further announcements as the deal moves through regulatory and shareholder processes into early 2027.

Lynas share price snapshot

Over the past 12 months, Lynas shares have declined 19%, trailing the S&P/ASX 200 Index (ASX: XJO), which has declined 1% over the same period.

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The post Lynas to acquire Meteoric Resources in major rare earths deal appeared first on The Motley Fool Australia.

Meteoric Resources Ltd (ASX: MEI)

Meteoric Resources released its highly anticipated Definitive Feasibility Study (DFS) for its Caldeira Rare Earths project in July. The study included confirmation of a 151 million tonne (Mt) ore reserve grading 3,524ppm TREO and an impressive life of mine (LOM) post-tax NPV of US$847 million at spot prices.

The project has already secured a Preliminary Environmental Licence, with the construction permit (LI) expected by the end of 2026. Meteoric has signed non-binding offtake agreements with major players in South Korea, Canada, and North America and is in advanced funding talks with several government credit agencies.

The company's next steps involve obtaining the Installation Licence and finalising project funding to move toward a final investment decision and project construction. 

Last month, Meteoric also announced that its shares will begin trading on the US OTCQB Venture Market under the ticker METOF, broadening access for North American investors and supporting future growth.

Experts seem confident the business could boom over the next 12 months. Market Index data shows that all brokers have a strong buy rating on the ASX rare earths shares. The 38 cent target price implies a potential 122% upside at the time of writing.

Generation Development Group Ltd (ASX: GDG)

Generation Development Group is a diversified financial services company focused on investment and retirement products.

The company's shares have consistently tumbled lower over the past 12 months after spiking to an all-time high in October last year.

It looks like the share price decline through 2026 is part of a reset after the shares rocketed around 107% through the first three quarters of the 2025 calendar year. Many investors took profits after the shares rallied strongly over a short period.

But the company's FY26 results were strong operationally. Generation Development Group posted record funds under management last month, up 37% to $46.5 billion. 

Meanwhile its underlying NPAT increased 21% to $40.7 million for FY26. Group revenue also increased 23% to $178.7 million.

Going forward, the group said it is well-placed to benefit from strong structural tailwinds across superannuation, retirement, and managed account markets in FY27. Management expects continued FUM growth, supported by adviser adoption and stable product revenue margins.

Brokers are bullish too. Market Index data shows that all brokers agree on a strong buy rating on the ASX shares. The $5.62 average target price implies about 90% upside at the time of writing.

Judo Capital Holdings Ltd (ASX: JDO)

Judo was one of the strongest-performing bank shares on the ASX earlier this year. However, the ASX bank shares crashed 43% in late June after it downgraded its profit guidance for FY26. Since then, it has struggled to recover. 

Even a stronger-than-expected FY26 result in mid-August hasn't been enough to renew investor confidence. 

Judo reported a 29% increase in NPAT and a 34% increase in profit before tax, at the top end of its revised guidance range. 

The company also expects FY27 profit before tax to be between $210 million and $220 million, driven by growth and operating leverage. That would translate to a 30% increase.

The sell-off earlier this year seems overdone to me, and the bank appears to be performing better than the market expected.

Market Index data shows the majority of brokers have a strong buy rating on the ASX shares. The $1.51 average target price implies a potential upside of around 50%, at the time of writing.

The post Brokers tip these 3 ASX shares to climb between 50% and 122% in the next 12 months appeared first on The Motley Fool Australia.

What did Meteoric Resources report?

• Ordinary shares approved for US OTCQB Venture Market trading from 10 August 2026 (ticker: METOF)
• No new shares issued; ASX listing unaffected
• OTCQB listing enables trading in US dollars during US market hours
• Company continues to comply with ASX financial reporting and disclosure rules
• Recent completion of Definitive Feasibility Study for Caldeira Rare Earth Project

What else do investors need to know?

The secondary OTCQB listing is designed to attract new investors from the US and Brazil while maintaining all existing ASX standards. Meteoric's dual accessibility could support improved liquidity by enabling global trading in the company's shares.

Importantly, this move does not impact how investors can buy or sell Meteoric shares on the ASX, and no new shares are being introduced. All key company announcements and disclosures will still be made through the ASX.

This expansion follows the recently released Definitive Feasibility Study for the flagship Caldeira Rare Earth Project in Brazil, which has confirmed its strong economic fundamentals.

What's next for Meteoric Resources?

Meteoric plans to continue expanding investor engagement activities in North America, aiming to tap greater interest in critical minerals and rare earths. The new OTCQB platform offers a pathway to reach more shareholders and improve trading flexibility, particularly as the Caldeira Project moves toward further development milestones.

As development approvals for Caldeira progress, Meteoric expects to benefit from increased interest from global capital markets, supporting offtake and project financing opportunities.

Meteoric Resources share price snapshot

Over the past 12 months, Meteoric Resources shares have risen 33%, outperforming the S&P/ASX 200 Index (ASX: XJO), which has risen 5% over the same period.

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The post Meteoric Resources unveils US OTCQB listing to boost global investor access appeared first on The Motley Fool Australia.

Canaccord Genuity has issued a bunch of reports this week. I've picked out four companies that they believe can deliver better than 100% returns.

Let's see who they like.

Deep Yellow Ltd (ASX: DYL)

This aspiring uranium producer is progressing its Tumas project in Namibia towards a final investment decision expected later this year.

CG said the company was continuing with its "disciplined execution" strategy, "conducting low-cost, long-duration work streams ahead of an anticipated Q4 CY26 final investment decision".

The broker said there were no major surprises in the quarter; however, the company's shares were sold off.

CG has a price target of $2.90 on Deep Yellow shares against $1.24 at the time of writing.

Meteoric Resources Ltd (ASX: MEI)

This company has recently signed a memorandum of understanding with the Korean giant POSCO, relating to the development of Meteoric's Caldeira rare earths project in Brazil.

CG said regarding the deal:

POSCO is one of the world's largest steel producers, having had long-standing and deep involvement in upstream mining and resource projects in Australia and Brazil. In addition to steel producing inputs, POSCO has a presence in critical minerals including lithium and rare earths.

CG said they expected Meteoric to release a definitive feasibility study into Caldeira during the September quarter.

They added:

In our view, the proposed partnership with POSCO is a major positive for MEI, through not only offtake (and favourable pricing mechanisms which could improve economics relative to China benchmarks), but perhaps just as importantly through its scale and access to capital and what this means for project financing.

CG has a price target of 40 cents on Meteoric shares compared to 18 cents at the time of writing.

Elevra Lithium Ltd (ASX: ELV)

CG said Elevra's concentrate production of 54,000 tonnes for the most recent quarter was ahead of consensus estimates, and the company's key operating metrics continue to improve.

The broker said the company was expected to release FY27 guidance in the coming weeks, with CG expecting that to come in at 199,000 tonnes.

They added:

As we noted … ELV is pursuing a staged expansion … which we expect will see production rates increase by ~50% to >330ktpa 2030. Based on our estimates, capital costs of US$270m over FY27-30 are fully funded, with the first stage of expansion to >220ktpa set for delivery in FY28e.

CG has a price target of $17.80 on Elevra shares compared to $7.38 at the time of writing.

The post 3 ASX mining companies this broker says could more than double in value appeared first on The Motley Fool Australia.

What did Meteoric Resources report?

• Ore Reserve: 151Mt @ 3,524ppm TREO and 857ppm Magnet Rare Earth Oxides (MREO), supporting a >20 year mine life
• LOM Post-Tax NPV: US$847 million (spot) / US$2,721 million (forecast); IRR of 24% (spot) / 47% (forecast)
• Total Project Revenue: US$9.4 billion (spot) / US$17.4 billion (forecast)
• Initial Capital Expenditure: US$498 million including 10% contingency
• Average Operating Cost: US$11.68/kg TREO (LOM); Payback in 4 years (spot)
• No dividend declared

What else do investors need to know?

Meteoric's DFS is backed by more than 90,000 metres of drilling and extensive testwork, including over six months of pilot plant operation in Brazil. The Caldeira Project has the largest ionic clay rare earth resource reported outside of China and boasts high recoveries (71% for magnet rare earths) from shallow, free-digging ore. More than 80% of the broader tenement has not yet been included in the DFS, suggesting potential for future growth or mine life extensions.

The project has already secured a Preliminary Environmental Licence, with the construction permit (LI) expected by the end of 2026. Meteoric has signed non-binding offtake agreements with major players in South Korea, Canada, and North America and is in advanced funding talks with several government credit agencies.

What did Meteoric Resources management say?

Managing Director and CEO Stuart Gale said:

The Caldeira Project DFS is a comprehensive assessment of the technical, commercial and financial fundamentals required to support a formal investment decision. The DFS confirms Caldeira as a low capital intensive, low operating cost, long life asset containing abundant light and heavy magnetic rare earth elements essential to permanent magnet production… Caldeira is positioned to become a significant long-term supplier of rare earth materials, into global markets, at a time when demand for rare earth materials continues to be driven by electrification, renewable energy, advanced manufacturing and defence applications.

What's next for Meteoric Resources?

The next steps for Meteoric involve receiving the Installation Licence and finalising project funding to move towards a final investment decision and project construction. Front-end engineering and design studies are underway, and plans are in place to secure key contracts and finalise vendor commitments for long-lead items. The company continues to progress offtake and financing discussions, with an eye on becoming a major new source of rare earths for global markets.

Meteoric is also continuing downstream studies to assess the feasibility of future value-adding in Brazil and has strong support from all levels of Brazilian government, including inclusion in critical minerals and decarbonisation initiatives.

Meteoric Resources share price snapshot

Over the past 12 months, Meteoric Resources shares have risen 50%, outperforming the All Ordinaries Index (ASX: XAO), which has risen 1% over the same period.

View Original Announcement

The post Meteoric Resources releases Caldeira DFS appeared first on The Motley Fool Australia.

ResMed Inc (ASX: RMD)

The sleep disorder treatment company's shares have started rebounding after huge losses were shed over the past year. In May, the company posted a softer-than-expected third-quarter update, but overall, ResMed's revenue has continued to grow at a healthy pace, and its margins have continued expanding. The company has also generated strong free cash flow. I think the ASX 200 healthcare share is now oversold and below fair value.

Market Index data shows brokers are divided between buy and hold ratings on ResMed shares. But the $88.21 average target price now implies a huge 205% upside at the time of writing.

Meteoric Resources Ltd (ASX: MEI)

Meteoric Resources is an Australian mineral exploration and development company focused on rare earth elements. The company's Caldeira Rare Earths project is one of the largest and highest-grade ionic clay rare earth deposits outside China and management thinks it has the potential to become one of the world's lowest-cost producers. The company recently announced that a definitive feasibility study (DFS) would be completed on the project "in the near term". It also announced that drilling at the project had led to a 246% increase in the mineral resource at Caldeira, to 128 million tonnes.

Brokers think the shares are trading for cheap right now, with potential for huge upside ahead. Market Index data shows all brokers have a buy rating on the ASX shares. The 37 cent target price implies a potential 113% upside at the time of writing.

Xero Ltd (ASX: XRO) 

The ASX 200 tech share has been beaten down over the past year after concerns about the company's valuation and earnings outlook. Xero was caught up in a sector-wide sell-off late last year and in early 2026 as investors rotated away from tech stocks amid concerns about AI competition. The shares managed to rebound in late July, but they still look like they're trading for cheap.

The company benefits from an incredibly sticky subscription base and high customer retention rates. This means its revenue is relatively predictable. As a relatively small market player, it also has a lot of growth potential.

Market Index data shows the majority of analysts have a buy rating on the shares. They tip an upside of around 106% to an average target price of $139.26, at the time of writing.

Mesoblast Ltd (ASX: MSB)

Mesoblast is an Australian clinical-stage ASX biotech share that 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 share price has tumbled this year, most likely due to investor caution around clinical timelines and profit-taking after last year's rally. But its products are gaining traction and the business is well-funded. I think there is plenty of growth potential ahead.

Market Index data shows brokers are bullish. They all agree on a buy rating for the biotech shares. The $3.49 target price implies a potential 70% upside at the time of writing. 

Virgin Australia Holdings Ltd (ASX: VGN)

Virgin Australia shares fell to an all-time low of just $2.16 in early May but have since rebounded around 32%. The ASX airline share has struggled with headwinds from conflict in the Middle East and rising fuel prices this year. But it now looks like investors are slowly rotating back into airlines and travel companies after reports of robust travel demand. The company recently confirmed its FY26 guidance, which has helped boost investor confidence.

Market Index data shows that the majority of brokers are also bullish and rate the shares as a buy. They tip a potential upside of 23% to an average $3.48 target price over the next 12 months, at the time of writing.

The post 5 ASX shares I'd buy with $5,000 in August appeared first on The Motley Fool Australia.

What did Meteoric Resources report?

• Signed a non-binding Memorandum of Strategic Partnership with POSCO International Corporation.
• POSCO may secure up to 30% of Caldeira's rare earth material over a potential seven-year period.
• Partnership opens pathways for POSCO's strategic financing participation in Meteoric, subject to negotiation and due diligence.
• Metallurgical testwork confirms Caldeira's product can be processed by POSCO without extra refining.
• Parties will explore technology exchange and opportunities to strengthen the Brazil–Korea rare earth supply chain.

What else do investors need to know?

The agreement lays the groundwork for a future binding deal but is currently non-binding and subject to additional negotiation, approvals, and completion of due diligence. Meteoric and POSCO will also look into financing opportunities with Korean Export Credit Agencies to support the development of the Caldeira project.

This partnership aims to streamline the rare earths supply chain from Brazil to Korea, aligning with government-led critical minerals strategies. The companies will also develop technology and share best practices to boost the competitiveness of Brazil's rare earth value chain.

What did Meteoric Resources management say?

Managing Director Stuart Gale said:

This Memorandum represents a significant endorsement of Caldeira's scale, quality and strategic importance, and provides a strong platform to advance long-term offtake, financing support and downstream supply chain integration with one of Korea's most important industrial groups. Both POSCO and Meteoric teams have been working cohesively over many months to establish this partnership which will provide a strong basis for the development of Brazil's rare earth industry and ensure a secure and resilient supply chain for the Republic of Korea. POSCO is one of the world's most highly respected commodity buyers, producers and industrial businesses. As such we warmly welcome POSCO's interest in the Caldeira Project and the prospect of long-term partnership and collaboration. This is an important positive development for the growing relationship between Brazil and Korea, two of the world's leading economies and investment destinations.

What's next for Meteoric Resources?

Meteoric plans to work closely with POSCO on finalising a binding supply and financing agreement, supported by ongoing due diligence and commercial discussions. The company targets completing a Definitive Feasibility Study for Caldeira in 2026, which would support a potential final investment decision in 2027.

With development approvals progressing, Meteoric's goal is to position Caldeira as a major supplier for global rare earth needs, particularly in downstream separation and new supply chains.

Meteoric Resources share price snapshot

Over the past 12 months, Meteoric Resources shares have risen 32%, outperforming the S&P/ASX 200 Index (ASX: XJO), which has risen 4% over the same period.

View Original Announcement

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Macquarie has run the ruler over the updates and has maintained a very bullish share price target for the company, which I'll get to shortly.

First, let's look at what the company announced.

Huge upgrade for mineral resources

Meteoric Resources is progressing its Caldeira project in Brazil, and said in its report that a definitive feasibility study (DFS) would be completed "in the near term".

The company also announced that drilling at the project had led to a 246% increase in the mineral resource at Caldeira, to 128 million tonnes.

The company said its pilot processing plant continued to deliver robust recoveries and consistent mixed rare earth carbonate (MREC) production at or above nameplate capacity.

So far, more than 200kg of MREC have been produced and provided to existing and potential offtake partners for product qualification.

Meteoric Managing Director Stuart Gale said:

Meteoric continues to build strong momentum at Caldeira, with all major DFS workstreams advancing to their final stages during the June 2026 quarter. The results from five months of continuous pilot plant operations have exceeded expectations, delivering strong MREC recoveries and validating key assumptions within the processing flowsheet. Importantly, the pilot plant has also generated valuable insights that support further process optimisation in the DFS. In parallel, the resource infill drilling program has underpinned the delivery of an updated mineral resource estimate and ore reserve for Caldeira, significantly enhancing geological and metallurgical understanding.

Meteoric Resources shares looking cheap

Macquarie said in its research note on the company that it expected a DFS to be released as early as the fourth quarter of 2026, which would enable a final investment decision in late 2026 or early 2027.

The Macquarie analysts said there could also be the potential for further value-adding.

They said:

Over the past 12 months, the ex-China rare earth industry has moved further downstream, highlighted by Lynas Rare Earths commencing commercial heavy rare earth oxide (Dy, Tb) production and pursuing magnet manufacturing through its JS Link partnership, while MP Materials has expanded into rare earth metal and magnet production. We believe MEI could evaluate similar downstream opportunities over time. In our view, greater downstream integration could improve product payability through production of separated rare earth products (or groups) rather than MREC alone, while potentially attracting additional support from the Brazilian government as it seeks to establish a domestic rare earth elements value chain.

Macquarie has a price target of 45 cents on Meteoric shares compared to 18.25 cents at the time of writing.

Meteoric Resources is valued at $523.2 million.

The post Macquarie says this ASX rare earths company could jump 140% appeared first on The Motley Fool Australia.

What did Meteoric Resources report?

• Global Caldeira Mineral Resource Estimate (MRE) lifted to 1.6 Bt @ 2,317 ppm TREO, with Measured Resources increasing 246% to 128 Mt @ 2,815 ppm TREO
• Updated Ore Reserve of 146 Mt @ 3,546 ppm TREO and 863 ppm MREO, including 517,000 tonnes of TREO and 126,000 tonnes of MREO
• Pilot Plant delivered average magnet rare earth oxide (MREO) recoveries of 71% and TREO recoveries of 61%, exceeding pre-feasibility study estimates
• Quarter-end cash balance of $37.8 million, following a successful $40 million capital raising
• Production pathway strengthened by full assignment of key mining tenements and off-take option agreement

What else do investors need to know?

Meteoric has advanced its Caldeira Project technical, engineering, and commercial workstreams toward the final stages, aiming to deliver a Definitive Feasibility Study (DFS) in the near term. Infill drilling expanded resource confidence, notably in the Southern Licences, and facilitated a substantial upgrade in measured minerals.

Environmental licensing is progressing on schedule, with recent site inspections by Brazilian state agencies confirming no radiological risks and supporting a state-level approval process. This paves the way for a final investment decision (FID) after licence consideration, anticipated in the December quarter.

The company's tenement consolidation and new offtake options further consolidate control over the initial production area. Importantly, Meteoric remains debt-free with strong stakeholder and local support amid robust funding.

What did Meteoric Resources management say?

Stuart Gale, managing director and CEO of Meteoric Resources, said:

Meteoric continues to build strong momentum at Caldeira, with all major DFS workstreams advancing to their final stages during the June 2026 quarter.

The results from five months of continuous pilot plant operations have exceeded expectations, delivering strong MREC recoveries and validating key assumptions within the processing flowsheet. Importantly, the pilot plant has also generated valuable insights that support further process optimisation in the DFS.

In parallel, the resource infill drilling program has underpinned the delivery of an updated MRE and Ore Reserve for Caldeira, significantly enhancing geological and metallurgical understanding. Caldeira continues to demonstrate its Tier 1 credentials as one of the largest and highest-grade clay-hosted rare earth deposits globally. Coupled with our commitment to industry-leading ESG standards and proactive stakeholder engagement, the project continues to enjoy strong support from local communities and all levels of government in Brazil, providing a strong foundation for future development.

What's next for Meteoric Resources?

Meteoric is set to finalise the Caldeira DFS and expects to bring the project to a final investment decision soon after environmental licensing is secured. Further drilling at Barra do Pacu and ongoing pilot plant optimisation aim to increase resource confidence and processing performance.

The company plans to continue engagement with potential strategic partners and explore alternative funding options to support the Caldeira project's next phase. Management has reiterated commitment to timely milestones, ESG standards and positive stakeholder relationships.

Meteoric Resources share price snapshot

The Meteoric Resources share price has delivered a good return for shareholders over the past 12 months. Over the period, the rare earths stock has risen almost 9%. This is notably better than the 0.4% gain by the All Ordinaries index (ASX: XAO).

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The post Meteoric Resources lifts Caldeira Measured Resources 246% in June quarter appeared first on The Motley Fool Australia.

The outperforming miner in question is Meteoric Resources (ASX: MEI). The rare earths stock has gained 37.5% over the past 12 months. That's despite today's retrace.

In morning trade on Thursday, Meteoric shares are down 5.7%, changing hands for 16.5 cents apiece. For some context, the All Ords is up 0.1% at this same time.

Meteoric shares are under pressure today, despite the miner releasing a promising progress update on the performance of the Pilot Plant at its Caldeira Rare Earth Project, located in Brazil.

Here's what's happening.

ASX All Ords mining stock targeting critical minerals

Meteoric commissioned the Pilot Plant in late 2025. Inclusive of a ramp-up period, the company reported on the performance results for the first five months of the plant's operations.

The ASX All Ords mining stock said that over this period, the plant has processed approximately 43 tonnes of ore from the Capao do Mel (CDM) starter pit. And it's achieved the targeted throughput rate of 600 kilograms per day.

Management highlighted that the Mixed Rare Earth Carbonate (MREC) production from this throughput has consistently averaged higher than the forecast 2 kilograms per day.

Magnet rare earth oxide (MREO) recoveries have been averaging 71% in MREC.

MREO recoveries jumped to 80% during May, which the miner credits to ongoing process optimisation, iterative flowsheet improvements, and ore quality.

To date, the ASX All Ords mining stock has provided more than 200 kilograms of MREC to existing and potential offtake partners in the United States, Europe, and Asia for product qualification.

The company has also provided MREC to be used in studies for development of oxide separation in Brazil.

What did Meteoric Resources management say?

Commenting on the progress that should support the ASX All Ords mining stock over the longer term, Meteoric CEO Stuart Gale said, "Results from our first five months of Pilot Plant operation have been excellent and exceed our expectations."

Gale added, "It has validated the investment Meteoric has made in metallurgical and process testwork, along with the assumptions made in our studies to date."

Looking ahead, Gale said:

The exceptionally high NdPr and DyTb combined recovery of 80% in the past month gives us encouragement that we may ultimately be able to exceed our targeted MREO recoveries by applying the learnings of the piloting program and capitalising on our +4,000ppm reserve material.

In addition to the strong MREO recoveries, rare earths on the United States critical minerals list like yttrium, samarium, gadolinium and ytterbium are all recovering well.

The post Up 38% in a year, ASX All Ords mining stock reports rare earths progress appeared first on The Motley Fool Australia.

The analyst team at Macquarie has this week published research notes on two companies, both in the critical minerals sector, which they believe have the potential for strong gains based around this very thesis.

Let's have a look at who they like.

Meteoric Resources Ltd (ASX: MEI)

This rare earths project developer recently provided an update on its Caldeira project pilot plant, stating it delivered "exceptional performance" with magnetic rare earth oxide (MREO) recoveries of 80% in May.

The pilot plant was commissioned in late 2025, the company said, and MREO recoveries had been improving over that time.

The company added:

Recoveries to mixed rare earth carbonate (MREC) for the lite MREO – neodymium and praseodymium (NdPr) and heavy MREO – dysprosium and terbium (DyTb) have averaged 71% over the operational period. This is in line with the May 2025 Pre-Feasibility Study estimate which was based on detailed testwork and piloting completed at the Australian Nuclear Science and Technology Organisation (ANSTO). Total rare earth oxide (TREO) recovery of 61% is materially above the PFS estimate. Exceptional recoveries of 80% for MREO and 74% for TREO were achieved over the last month, reflecting ongoing process optimisation, iterative flowsheet improvements and ore quality.

The company said that bulk MREC samples had been supplied to a range of groups for separation test work, including existing partners Neo Performance Materials in Europe, and Ucore and MTM in the United States.

The Macquarie team said in their report to clients this week that the pilot plant's performance was better than nameplate capacity, and that rare earth recoveries were above their forecasts.

They added:

MEI continues to execute its development plan with steady progress. We see value in the company, which is currently trading at an implied NdPr price of US$70/kg, 36% below our base-case assumption of US$110/kg and 31% below spot price of US$103/kg.

Macquarie has a target price of 45 cents on Meteoric Resources shares compared to 17.5 cents currently. If achieved, this would be a 157.1% return.

Wildcat Resources Ltd (ASX: WC8)

Shares in Wildcat Resources have appreciated about 310% over the past 12 months, but the Macquarie team thinks they still have a way to go.

The company is currently working on a definitive feasibility study for its Tabba Tabba lithium project in Western Australia's Pilbara region, and said in May there was strong interest in offtake agreements for the mine's products.

Wildcat Project Director James Dornan said at the time:

We are close to finalising the Definitive Feasibility Study for the Tabba Tabba Project. Mine planning and metallurgical test work is being progressed across the entire life of mine, with material from Years 1-2 of open pit operations achieving a spodumene concentrate grade of 5.65% Li2O with low iron and excellent recoveries, providing confidence for the commissioning and ramp up phases of the Project.

The Macquarie team said the company stands out because of its large resource base and favourable mining geometry.

They added:

Beyond Tabba Tabba, the Bolt Cutter discovery provides incremental upside, in our view, with drilling supporting an expanding spodumene footprint proximal to existing infrastructure. This has the potential to enhance overall project scale, improve development flexibility and extend mine life over time.

Macquarie has a price target of 90 cents on Wildcat shares compared to 55.5 cents currently. If achieved, this would be a return of 62.2%.

The post These 2 ASX resources companies could deliver better than 60% returns, Macquarie says appeared first on The Motley Fool Australia.

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

Lendlease Group (ASX: LLC)

The Lendlease share price is up over 2% to $2.68. This follows the announcement of its new CEO and the release of a trading update. With respect to the latter, Lendlease reaffirmed its Investments, Development and Construction segment FY 2026 earnings per share guidance of 28 cents to 34 cents. This is subject to targeted completions. In addition, it revealed that underlying group gearing is expected in the mid-30% range. Earlier in the day, the company revealed that Nick O'Neil will become its new CEO from 10 September. Lendlease chair, John Gillam, said: "With our strategy reset, portfolio simplification and foundations firmly in place, Nick is ideally positioned to lead the next phase of revitalising and strengthening Lendlease. He brings deep real asset management experience, a strong track record in global investment and innovation in aligning capital to market opportunities, as well as the leadership experience needed to drive execution and growth."

Meteoric Resources NL (ASX: MEI)

The Meteoric Resources share price is up 7% to 15.5 cents. This morning, the rare earths developer released an update on its Caldeira Rare Earth Project in Brazil. It revealed that its pilot plant achieved outstanding MREO recoveries of 80% during May. Meteoric's managing director and CEO, Stuart Gale, said: "Results from our first five months of Pilot Plant operation have been excellent and exceed our expectations. It has validated the investment Meteoric has made in metallurgical and process testwork, along with the assumptions made in our studies to date."

Super Retail Group Ltd (ASX: SUL)

The Super Retail share price is up 1.5% to $12.44. This follows the unveiling of a new strategy from the retail conglomerate this morning. Super Retail's new strategy outlines how it intends to capture a greater share of its $65 billion addressable market opportunity across automotive, sport, and outdoor. This will be through growth in its core categories and expansion into adjacent categories within those markets. The company's CEO, Paul Bradshaw, said: "Our new Group Strategy puts the customer at the centre of everything we do as we build our business for its next phase of growth. We are determined to be closer to our customers than ever before – understanding and meeting their needs as they continue to evolve. Together, our four brands capture $4 billion of a $65 billion market opportunity in Australia and New Zealand. We have an incredible opportunity to pursue growth across our core auto, sport and outdoor markets, both in traditional and adjacent categories."

Woodside Energy Group Ltd (ASX: WDS)

The Woodside Energy share price is up 1.5% to $31.53. Investors have been buying the energy giant's shares after oil prices jumped in response to an escalation in tensions in the Middle East. The S&P/ASX 200 Energy index is up 1.5% at the time of writing.

The post Why Lendlease, Meteoric Resources, Super Retail, and Woodside shares are rising today appeared first on The Motley Fool Australia.

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

Catalyst Metals Ltd (ASX: CYL)

The Catalyst Metals share price is down 5.5% to $5.71. This follows the release of the gold miner's quarterly update. Catalyst reported gold production of 26,127 ounces with an all-in sustaining cost (AISC) of A$2,901 per ounce. Looking ahead, while the gold miner has reaffirmed its production guidance of 100,000 ounces to 110,000 ounces, it has lifted its cost guidance. It now expects its FY 2026 AISC to come in at A$2,750 per ounce to A$2,950 per ounce. This compares to its previous guidance range of A$2,200 per ounce to A$2,650 per ounce. This reflects processing plant downtime, lower material movements, and broader inflationary pressures such as rising diesel costs.

G8 Education Ltd (ASX: GEM)

The G8 Education share price is down 30% to 16.7 cents. Investors have been selling this childcare operator's shares following the release of a trading update. Management advised that occupancy across the sector is lower compared to 2024 and 2025. This is due to families experiencing sustained affordability pressures, falling birth rates, increased long-day care supply, and confidence being impacted by serious child safety incidents. At the same time, operators are dealing with increased costs due to inflationary pressures, persistent workforce challenges, changing regulation and compliance requirements, and a more complex operating environment. Current occupancy stands at 56.4%, which is down 7% versus the prior corresponding period.

Meteoric Resources NL (ASX: MEI)

The Meteoric Resources share price is down 6.5% to 18.7 cents. This morning, the rare earths developer announced the completion of a $40 million placement to institutional and sophisticated investors. Meteoric Resources raised the funds through the issue of 235 million shares at 17 cents per new share. The placement will fund the advancement and pre-development activities for the 100%-owned Caldeira Rare Earth Iconic Absorption Clay Project towards a final investment decision.

Westgold Resources Ltd (ASX: WGX)

The Westgold Resources share price is down 3% to $5.92. This follows the release of the gold miner's quarterly update. Westgold reported production of 93,145 ounces of gold, which was down 16.4% quarter-on-quarter from 111,418 ounces. And while it has reaffirmed its production guidance, it expects costs to be at the high-end of its guidance range.

The post Why Catalyst Metals, G8 Education, Meteoric Resources, and Westgold 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:

Ampol Ltd (ASX: ALD)

The Ampol share price is up almost 4% to $32.82. This morning, the fuel retailer released a trading update and revealed that first-quarter total refinery production rose 10% and its Lytton Refiner Margin (LRM) jumped to US$25.45 per barrel. It said: "The LRM for the first quarter of 2026 was US$25.45 per barrel. This included a substantial uplift in global refiner margins in the month of March following commencement of the Middle East conflict and its subsequent impact on shipping through the Strait of Hormuz."

Meteoric Resources NL (ASX: MEI)

The Meteoric Resources share price is up 12% to 19 cents. This follows news that the rare earths developer has received firm commitments to raise $40 million via a placement. These funds were raised at an offer price equal to its last close price of $0.17 per new share. Meteoric's managing director and CEO, Stuart Gale, said: "To launch this capital raising at no discount to the prior close and be significantly oversubscribed is a great endorsement from investors in the Caldeira Project and the broader rare earth market. Proceeds from the Placement support the current activities and allow us to broaden our engineering studies and design work, including assessment of separation opportunities."

Praemium Ltd (ASX: PPS)

The Praemium share price is up 2.5% to 75.2 cents. Investors have been buying this investment platform provider's shares following the release of its quarterly update. Praemium revealed an 18% increase in funds under administration (FUA) to $73.7 billion. The company's CEO, Anthony Wamsteker, commented: "The March quarter delivered strong net flows into Spectrum, reflecting adviser confidence in the platform and validating our strategic focus on the HNW segment. This demand highlights the breadth and strength of our offering and the opportunity to further grow our market share."

Treasury Wine Estates Ltd (ASX: TWE)

The Treasury Wine share price is up 18% to $4.77. This morning, the wine giant announced its transition to a new regional operating model as it progresses its global transformation program, TWE Ascent. But perhaps the bigger news relates to current depletions trends. Management advised that Penfolds continues to deliver strong depletions growth in China, with depletions up 40% over the Chinese New Year period on a seasonally adjusted basis. In addition, overall US market depletions were up 9.1% versus the prior corresponding period and depletions returned to growth in California.

The post Why Ampol, Meteoric Resources, Praemium, and Treasury Wine shares are storming higher appeared first on The Motley Fool Australia.

Strongly supported capital raise

The company said in a statement to the ASX that it had received commitments to raise $40 million at 17 cents per share, which was equal to the share price when the capital was raised.

The shares jumped 14.7% on the news to be changing hands for 19.5 cents.

Meteoric Resources said the funding would be used to advance its Caldeira project in Brazil, "via completion of the definitive feasibility study, environmental licensing, continued pilot plant operation, pre-development activities and infill drilling to increase confidence in mining reserve''.

The money would also be used for land acquisition and general working capital.

The company said, following the raise, it would be well-capitalised, with a cash balance of $58 million based on its holdings as of the end of March.

Meteoric Managing Director Stuart Gale said regarding the raise:

To launch this capital raising at no discount to the prior close and be significantly oversubscribed is a great endorsement from investors in the Caldeira Project and the broader rare earth market. Proceeds from the Placement support the current activities and allow us to broaden our engineering studies and design work, including assessment of separation opportunities. There is a significant amount of interest in the rare earth sector as evidenced by several recent acquisitions, including in Brazil. While this is significant and generates great sentiment, we will continue to focus on the development of Caldeira through de-risking activities including the DFS and licence applications while working with key partners to establish a fully funded project financing solution to build the Caldeira Project.

Shares looking cheap

Canaccord Genuity in March singled out Meteoric Resources as one of the rare earths companies to watch.

The broker said in a research note to clients that demand for magnet rare earths is expected to triple over the next decade, underpinned by a combination of structural drivers including the energy transition, automation and robotics, and defence and rearmament.

There are also major barriers to entry on the mining and processing front, the broker said.

Canaccord Genuity has a speculative buy rating on Meteoric Resources, with a share price target of 40 cents.

It also has a bullish price target on Brazilian Rare Earths Ltd (ASX: BRE), which the broker suggests could reach levels of $8 per share, up from $4.76 currently.

Meteoric Resources is valued at $449.9 million.   

The post Why are shares in this ASX rare earths company surging today? appeared first on The Motley Fool Australia.

In a research note sent to clients this week, Wilsons makes the case that rare earths elements "sit at the centre of several powerful structural trends, including electrification, automation and defence modernisation''.  

Large demand drivers

They say that permanent magnets represent the largest source of rare earths demand, "with applications spanning electric vehicle motors, wind turbines, robotics and industrial automation, as well as consumer electronics''.

They go on to say:

Key magnet rare earths include NdPr (neodymium and praseodymium), which are used to produce NdFeB (neodymium–iron–boron) permanent magnets, the dominant magnet technology in advanced electric motors. In certain applications, heavy rare earths such as DyTb (dysprosium and terbium) are added to improve performance at elevated temperatures.

Wilsons says demand for magnet rare earths is expected to triple over the next decade, underpinned by a combination of structural drivers including the energy transition, automation and robotics, and defence and rearmament.

There are also major barriers to entry on the mining and processing front, as they say:

Rare earth supply is structurally inelastic to price signals. Projects face high capital intensity, complex permitting and financing requirements, and long development timelines that typically span 10-15 years. Against this backdrop, and with demand rising strongly, several magnet rare earth elements, including NdPr and DyTb, are expected to face supply deficits over the near to medium-term. Beyond the global supply/demand balance, an increasingly important dynamic for Western producers is the emergence of an increasingly bifurcated rare earth market, where strategic demand for ex-China supply is supporting pricing premiums and long-term supply agreements for Western rare earths.

Wilsons says China dominates both the extraction and refining of rare earths, which is a strategic vulnerability for Western economies.

Local winners

Among the ASX-listed companies in the sector, Lynas Rare Earths Ltd (ASX: LYC) stands out, Wilsons says, as the largest rare earths producer outside of China.

Wilsons says Canaccord Genuity has a price target of $22 on the company, compared with the current price of $18.89.

Lynas just this week announced a major supply agreement with the US Department of War, involving US$96 million in rare earth oxide offtake and a US$110/kg floor price for NdPr.

Wilsons says Canaccord also has a buy rating on Iluka Resources Ltd (ASX: ILU) and a price target of $6.55 against the current price of $6.03.

Among the project developers, Canaccord has a speculative buy on both Brazilian Rare Earths Ltd (ASX: BRE) and Meteoric Resources Ltd (ASX: MEI).

The price target for Brazilian Rare Earths is $8, against the current price of $4.20, and for Meteoric Resources, 40 cents, compared with 16.5 cents.  

The post 4 cheap Aussie rare earths companies which are worth a look, according to Wilsons Advisory appeared first on The Motley Fool Australia.

The good news is that these conditions are expected to remain for the foreseeable future, which could make it worth having some exposure to ASX rare earths stocks.

The team at Wilsons has been looking at this side of the market and is feeling very positive. It said:

The rare earth market is benefiting from a powerful combination of structural demand growth, constrained supply and increasing policy support for ex-China supply chains. These dynamics are expected to support elevated rare earth prices while also strengthening demand for, and the pricing outcomes of, Western supply in particular.

But which shares could be buys for rare earths exposure? Let's take a look at three that Canaccord Genuity is bullish on, courtesy of Wilsons. They are as follows:

Brazilian Rare Earths Ltd (ASX: BRE)

Canaccord Genuity thinks investors with a high tolerance for risk should look at this rare earths developer.

It has put a speculative buy rating and $8.00 price target on this Brazil-focused ASX rare earths stock. Based on its current share price of $4.70, this implies potential upside of 70% for investors over the next 12 months. It said:

Highest grades we have come across at the Monte Alto discovery in Brazil – partnership with Carester, upcoming Resource/ Scoping for integrated oxide production + bauxite spinout offer potential catalysts.

Iluka Resources Ltd (ASX: ILU)

Another ASX rare earths stock that is highly rated is Iluka. Although its mineral sands business is weighing on its performance, its exposure to rare earths with the Eneabba project is seen as a reason to buy.

Canaccord Genuity has a buy rating and $6.55 price target. However, this is largely in line with where its shares currently trade.

Commenting on the stock, the broker said:

Mineral sands business suffering from structural issues, but Eneabba provides medium-term exposure + a possible beneficiary of Australian Critical Minerals Reserve floor pricing.

Meteoric Resources NL (ASX: MEI)

A final ASX rare earths stock that gets the thumbs up from the broker is Meteoric Resources.

Canaccord Genuity has put a speculative buy rating and 40 cents price target on its shares. This is more than double its current share price.

Commenting on the Brazil-based developer, it said:

Low capex/low cost IAC development project in Brazil approaching major milestones (BFS/approvals/ funding/FID) in mid'26.

The post Top broker names 3 ASX rare earths stocks to buy 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:

ASX Ltd (ASX: ASX)

The ASX share price is down 4% to $54.14. Investors have been selling this stock exchange operator's shares after it announced the exit of its CEO. The company advised that its CEO, Helen Lofthouse, will step down from the role in May. It also revealed that the CHESS project Release 1 is targeting go-live in April, just before she leaves.

CSL Ltd (ASX: CSL)

The CSL share price is down 6% to $160.54. This has been driven by the release of a soft half-year result and news that the biotech giant's CEO, Dr Paul McKenzie, has resigned with immediate effect. With respect to the latter, CSL's chair, Dr Brian McNamee AO, said: "Paul and the Board have determined that now is the right time for new leadership to continue to drive CSL's strategic transformation and performance." For the first half, CSL posted underlying NPATA of US$1.9 billion, which was down 7% on the prior corresponding period. One positive is that management has reaffirmed its guidance for FY 2026.

GQG Partners Inc (ASX: GQG)

The GQG share price is down 3.5% to $1.59. This follows the release of the fund manager's latest funds under management (FUM) update. GQG Partners revealed that its FUM increased to US$165.7 billion (from US$163.9 billion) during January. However, this reflects a strong investment performance, which offset US$4.2 billion of net outflows.

Meteoric Resources NL (ASX: MEI)

The Meteoric Resources share price is down almost 5% to 20 cents. Investors have been selling the rare earths company's shares despite a positive update on the production performance at its recently commissioned Mixed Rare Earth Carbonate (MREC) Pilot Plant at the Caldeira Rare Earth Project in Brazil. The company's managing director, Stuart Gale, said: "Results achieved at the Pilot Plant to date have bettered the extensive test work conducted by ANSTO which is a great credit to our team who have spent significant time developing Meteoric's understanding of the Caldeira Ionic Clay deposits." Average magnet rare earth element recoveries were 70%. It is possible some investors were expecting stronger recoveries.

The post Why ASX, CSL, GQG, and Meteoric Resources shares are sinking today appeared first on The Motley Fool Australia.