The idea isn't complexity. It's owning the right mix and sticking with it.

Here's a punchy strategy designed for investors targeting early retirement.

Growth, income anchor, and outsized gains

Start with WiseTech Global Ltd (ASX: WTC) as your primary growth engine. This is a high-quality software business embedded in global logistics, with strong pricing power and long-term expansion potential. It's the kind of company you hold for years and let compounding work in the background.

To balance that, Commonwealth Bank of Australia (ASX: CBA) plays the role of income anchor. If you're serious about early retirement, you'll eventually need reliable cash flow, and CBA's dividends can help fill that gap. It's not about explosive growth here—it's about dependability.

For a higher-risk, higher-reward tilt, PLS Group Ltd (ASX: PLS), formerly known as Pilbara Minerals, adds exposure to lithium and the broader electrification trend. Commodity stocks can be volatile, but that volatility is exactly where outsized gains can come from if the cycle plays in your favour.

Blue chips, international tech, and infrastructure

On the ETF side, Vanguard Australian Shares Index ETF (ASX: VAS) forms the core of the early retirement portfolio. It provides low-cost exposure to the broader Australian market, helping smooth out individual stock risk while still delivering solid long-term returns.

It's heavily weighted toward banks and miners, which dominate the local market. BHP Group Ltd (ASX: BHP) and CBA are typically the two biggest positions, alongside CSL Ltd (ASX: CSL) and the major banks.

To tap into global innovation, BetaShares Nasdaq 100 ETF (ASX: NDQ) gives you access to leading US tech names and AI-driven growth that simply isn't available on the ASX. This adds a powerful international growth layer. Tech dominates the portfolio, so returns can be powerful in a bull market, but expect volatility when sentiment shifts.

Rounding things out, iShares Global Infrastructure ETF (ASX: IFRA) introduces a more defensive element. While holdings are more spread out, you'll typically find companies involved in toll roads, airports, pipelines, and electricity grids.

Infrastructure assets tend to generate steady income and can act as a buffer during inflationary periods, which becomes increasingly important as you approach retirement.

Foolish Takeaway

What makes this combination effective is how each piece plays a role. The growth names push your portfolio higher over time, the income exposure helps prepare for life after work, and the diversification reduces the risk of relying on any single outcome.

Add in a disciplined approach – regular investing, reinvesting dividends, and staying invested through market swings – and the path to early retirement at 57 starts to look far more achievable than most people assume.

The post This ASX shares and ETF mix could be the key to early retirement appeared first on The Motley Fool Australia.

This strength reflects improving sentiment across commodities and growing confidence in long-term demand for materials linked to electrification and global economic growth.

With that backdrop, is it better to own a diversified mining giant with exposure across multiple commodities, or a focused lithium producer with direct leverage to one of the most important trends in energy?

PLS: A pure-play on lithium demand

PLS offers a clear and direct exposure to lithium.

Its Pilgangoora operation is one of the largest hard-rock lithium assets globally, and the company has built scale alongside a strong balance sheet and operational discipline.

In its latest results, the business reported a 47% increase in revenue to $624 million and a significant lift in margins, supported by higher realised prices and strong execution.

What stood out to me most is the operating leverage. When lithium prices strengthen, that tends to flow through quickly to earnings. That creates the potential for strong upside during favourable market conditions.

There are also broader themes supporting demand. The ongoing energy transition continues to drive interest in electric vehicles and battery storage. And with war in the Middle East influencing fuel markets, there is increasing attention on energy security and alternative solutions, which could support lithium demand over time.

For investors who want direct exposure to that theme, PLS offers a clean and focused way to access it.

Rio Tinto: Scale, diversification, and consistency

Rio Tinto brings a very different profile.

It operates across iron ore, copper, aluminium, and lithium, with a global portfolio of tier-one assets. That diversification creates multiple sources of earnings and reduces reliance on any single commodity.

The scale of the business is also significant. In its FY25 results, Rio Tinto delivered underlying EBITDA of US$25.4 billion, supported by strong production across key commodities and continued operational discipline.

The company has a long track record of returning capital to shareholders, with dividends paid at the top end of its payout range over the past decade. And its latest result continued this trend.

There is also a clear pathway for growth. Rio Tinto continues to invest in copper and lithium projects, alongside its core iron ore operations. Its pipeline includes developments that could support production growth over the coming years, while maintaining a strong balance sheet and disciplined capital allocation.

For me, this is a business that combines scale with adaptability.

Valuation

Based on CommSec consensus estimates, PLS shares are trading on around 16 times FY27 earnings, while Rio Tinto shares sit closer to 19 times FY27 earnings.

Although this suggests that PLS shares are better value, it is worth remembering that Rio Tinto usually trades at a premium. This reflects its scale, diversified earnings base, and long track record of delivering through different commodity cycles.

And for me, that premium feels justified.

Rio Tinto provides exposure to iron ore, copper, aluminium, and lithium, alongside a pipeline of projects that can support future growth. It also generates significant cash flow and continues to return capital to shareholders over time.

PLS has the potential to deliver stronger returns in a favourable lithium environment, but its single-commodity exposure means it lacks diversification and could be deemed higher risk.

As a result, I would lean toward Rio Tinto as the better buy today due to its broader exposure and more consistent earnings profile.

Foolish takeaway

Both companies are benefiting from strong commodity demand and are executing well.

PLS offers a focused way to gain exposure to lithium and the energy transition, with the potential for strong upside when conditions are supportive. Rio Tinto brings scale, diversification, and a long history of delivering returns across cycles.

For me, Rio Tinto shares stand out as the better buy right now, supported by its broader earnings base and ability to perform across different market environments.

The post PLS vs Rio Tinto shares: Which is the better buy? appeared first on The Motley Fool Australia.

Four of the fastest rising 10 stocks on the S&P/ASX 200 Index (ASX: XJO) today are lithium shares.

The best performer is diversified miner Mineral Resources Ltd (ASX: MIN), up 6.1% to $62.97 per share.

Next is lithium and nickel producer IGO Ltd (ASX: IGO), up 5.7% to $9.23 per share.

The Liontown Ltd (ASX: LTR) share price is 5.3% higher on Friday at $2.18.

The market's largest pure-play lithium company, PLS Group Ltd (ASX: PLS), cracked a new record at $6.14 today.

The PLS Group share price is currently $6.01, up 5.3%.

Among the smaller players outside the ASX 200, Elevra Lithium Ltd (ASX: ELV) shares hit a 52-week high of $10.39.

The Elevra Lithium share price is currently $10.31, up 11.9%.

Core Lithium Ltd (ASX: CXO) shares are up 9.4% to 37 cents apiece.

Lake Resources NL (ASX: LKE) shares are 7.6% higher at 9.9 cents.

What's driving ASX lithium shares higher?

Experts say the Iran war and ensuing global oil shock are reminding us of the value of electric vehicles (EV).

The lithium carbonate price has risen 9% this week and is up 43% year to date (YTD), according to Trading Economics data.

Analysts at Trading Economics say lithium prices are rising on a bullish future outlook.

Chinese EV manufacturer BYD announced it expects to sell more EVs this year due to the oil shock.

BYD has raised its 2026 sales forecast to 1.5 million units, up from the January estimate of 1.3 million units.

The analysts said:

The surge in crude oil and product prices since the start of March supported the outlook for larger economies to favor new energy vehicles, which use batteries that take lithium as a major input.

Demand also remained supported by Chinese investment in power infrastructure, recently exemplified by the announcement of higher power storage spending.

This was combined with Beijing stating it would double national EV charging capacity to 180 gigawatts by 2027, supporting lithium-rich energy storage systems.

In the meantime, Zimbabwe suspended exports of lithium concentrates and other raw materials to stimulate refining in the country.

Oil shock a tailwind for lithium prices

Lithium prices were already rebounding from a painful two-year downward spiral before the war in Iran began.

We have seen a rapid turnaround in lithium prices from mid-2025.

Supply/demand rebalanced after a long period of oversupply last year.

We also saw the impact of the green energy transition finally bleed through to markets in 2025.

Other commodity prices joined lithium in an upward surge in 2025 as the world began building new power infrastructure at scale.

The lithium carbonate price lifted to a two-year high of about US$26,200 per tonne in January.

It endured a short, sharp fall to just below US$20,000 in early February as part of a broader metals and minerals rout.

Today, the lithium carbonate price is US$24,850, representing a 43% year-to-date gain.

Lithium spodumene is up from about US$600 per tonne in June 2025 to US$2,415 per tonne today.

The post ASX lithium shares rally as oil shock highlights EV appeal appeared first on The Motley Fool Australia.

US President Donald Trump said Iran has agreed to several demands during further talks between the two nations.

Meanwhile, the US continues its blockade of Iranian ports in the Persian Gulf, and Israel and Lebanon have agreed to a 10-day ceasefire.

Amid this week's ongoing turmoil, brokers have reduced their ratings on six ASX 200 shares this week.

Let's take a look.

Lynas Rare Earths (ASX: LYC)

The Lynas Rare Earths share price is $20.76, down 0.1% today.

Over the past month, this ASX 200 mining share has lifted 3.7%.

Morgan Stanley downgraded Lynas shares to a hold rating on Wednesday.

The broker increased its 12-month price target from $18.50 to $20.45.

PLS Group Ltd (ASX: PLS)

The PLS Group share price is $5.98, up 4.8% today.

Over the past month, this ASX 200 lithium share has rocketed 28%.

Morgan Stanley downgraded this stock to a hold rating this week.

The broker shaved its 12-month price target from $5.30 to $5.25.

Westpac Banking Corp (ASX: WBC)

The Westpac share price is $39.58, down 1.1% today.

Over the past month, the ASX 200 bank share has fallen 4.6%.

Morgans downgraded Westpac shares from a trim to sell rating this week.

The broker has a $34.04 target on the financial stock.

Morgans said:

WBC published a trading update ahead of its 1H26 result due for release on 5 May.

Implied revenues were weaker, costs lower, and credit impairment charges higher than our and market expectations.

We revise our rating from TRIM to SELL as total return expectations at current prices have fallen below the -10% trigger.

Bank of Queensland Ltd (ASX: BOQ)

The Bank of Queensland share price is $7.29, up 0.2%.

Over the past month, this ASX 200 financial share has lifted 5.3%.

Morgans downgraded the bank share to a hold rating on Wednesday.

The broker has a $7.39 target price on Bank of Queensland shares.

Morgans said:

We expect a material decline in 1H26 earnings, with recent share price strength driven by the expected capital return from the equipment finance whole-of-loan sale.

Share price strength has compressed total return potential to c.5%.

As such, we moderate our rating from ACCUMULATE to HOLD.

Seek Ltd (ASX: SEK)

The Seek share price is $15.54, up 1.1% today.

Over the past month, this ASX communications share has increased 6.4%.

Jefferies downgraded Seek shares to a hold rating this week.

The broker slashed its 12-month price target from $24.80 to $15.90.

Mineral Resources Ltd (ASX: MIN)

The Mineral Resources share price is $62.47, up 5.3% today.

The ASX 200 mining share is 13.3% higher over the past month.

Morgans lowered its rating from buy to accumulate this week.

The broker has a slightly reduced 12-month price target of $67.

Morgans said:

We have updated our 2H26 forecasts to reflect weather impacts in 3Q26, which we expect to have a modest effect on Onslow iron ore shipments, alongside minor increases to cost and capex assumptions driven by inflation in shipping and fuel.

We have also incorporated our revised LT iron ore price of US$85/t (previously US$80/t).

… we move to an ACCUMULATE rating (previously BUY) as recent share price strength has reduced valuation upside.

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

One of today's stars is a financial company, the second produces uranium, and the third is a lithium producer.

So, which companies are hitting new high-water marks?

Read on!

Macquarie Group Ltd (ASX: MQG) lifts on positive sentiment

Macquarie shares are up 1.7% at the time of writing, changing hands for $239.14 each.

That's the highest share price for the ASX 200 diversified financial stock since January 2025. And it sees the Macquarie share price up 33% in 12 months. Macquarie shares also trade on a partly franked 2.8% trailing dividend yield.

The last price-sensitive news out from the company was its third-quarter trading update back on 10 February.

But the stock may be getting an added boost this week amid an upgrade from Morgan Stanley. The broker has an overweight weighting on Macquarie shares with a $270 price target. That represents a potential upside of almost 13% from current levels.

PLS Group Ltd (ASX: PLS) gets a funding boost

PLS Group – formerly known as Pilbara Minerals – is also hitting new highs today.

Shares in the ASX 200 lithium titan are up 3.1% at the time of writing, trading for $5.56 apiece. That's not just a new one-year high, but if PLS can hold these gains to close, it will mark a new all-time high for the stock.

PLS looks to be getting an added boost today after announcing a new US$600 million (AU$847 million) debt funding issuance.

The new senior unsecured notes come due in 2031 at an annual interest rate of 6.88%. The lithium miner intends to use the proceeds to refinance its AU$375 million drawn-on revolving credit facility and for general operating purposes.

Paladin Energy Ltd (ASX: PDN) shares riding the uranium wave

Paladin Energy shares are also trading in new one-year-plus high territory today.

Shares in the ASX 200 uranium stock are up 4.4%, changing hands for $14.40 each. That's the highest level since June 2024.

There's no fresh news out from Paladin Energy, but the uranium sector is broadly outperforming today amid rising global sentiment for the nuclear fuel.

Looking at some of Paladin's chief rivals, Boss Energy Ltd (ASX: BOE) shares are up 6.1% today, Bannerman Energy Ltd (ASX: BMN) shares are up 4.4%, and Deep Yellow Ltd (ASX: DYL) shares are up 2.3%.

The post 3 ASX 200 titans charging to new one-year-plus highs today appeared first on The Motley Fool Australia.

At the time of writing, the PLS share price is up 4.17% to $3.615, marking a new record and taking its 12-month gain to more than 300%.

The rally builds on what has already been a huge run, with stronger lithium sentiment and institutional buying continuing to support the shares.

The latest move suggests buyers are still comfortable backing the stock even at peak levels.

Here's what the company announced.

PLS upsizes its debt raise to US$600 million

According to the release, PLS has priced a US$600 million senior unsecured notes offering due 2031. The size is above the original US$500 million flagged earlier this week.

The notes will carry a 6.875% coupon and settle on 22 April, subject to customary conditions.

Management said that part of the proceeds will be used to refinance the company's existing $375 million revolving credit facility and its $1 billion revolving credit facility.

The balance will be used for general corporate purposes, giving the lithium producer added flexibility as it continues expanding its battery materials footprint across Australia, Brazil, and South Korea.

At the same time as the deal closes, PLS said it plans to reduce the size of its revolving credit facility from $1 billion to $500 million.

Why investors are backing the funding strategy

PLS is making this move while its share price is at record highs and while lithium market sentiment has continued improving through 2026.

That gives management a stronger position to lock in longer-dated capital without leaning on equity markets.

The announcement also follows Fitch assigning the company a BB issuer rating with a stable outlook earlier this week. The rating likely helped support institutional demand for the notes.

The update looks less about near-term balance sheet pressure and more about strengthening funding capacity ahead of future growth options.

That can include downstream lithium chemicals, Brazilian project development, and broader strategic partnerships.

Foolish Takeaway

I still think this looks like a smart funding move from PLS while sentiment and balance sheet strength are working in its favour.

The company is locking in longer-dated capital without touching equity, which should help preserve upside if lithium conditions keep improving.

After a 300%-plus run over 12 months, I would not expect the same pace of gains from here.

Still, stronger financial flexibility and improving lithium sentiment can keep supporting the valuation at these levels.

The post Why the PLS share price just hit an all-time high appeared first on The Motley Fool Australia.

Two of the large-cap S&P/ASX 200 Index (ASX: XJO) stocks are outpacing the 0.2% losses posted by the benchmark index in late morning trade on Thursday, while one of the ASX 200 stocks shares have been temporarily frozen.

Here's what's happening.

Viva Energy shares halted following refinery fire

Viva Energy shares are making headlines today following the outbreak of a fire last night at its Geelong refinery in Victoria. The refinery is one of two remaining operational refineries in Australia, and officials expect the incident could push fuel prices even higher across the nation.

Viva Energy shares entered a trading halt before market open today.

The ASX 200 energy stock requested the trading pause pending an announcement regarding the impact of the "significant" fire at its refinery.

CEO Scott Wyatt said that while fuel refining at Geelong would continue, it will initially be "very low relative to what we were doing before".

According to Wyatt (quoted by The Australian Financial Review):

In the days ahead, we will look at how we can continue to operate the refinery without the need to use these two units that have been affected. We have operated in this way before, so we have a high degree of confidence that we can do that.

Paused at Wednesday's closing price of $2.53, Viva Energy shares are up 65% over 12 months, not including dividends.

Which brings us to…

PLS shares eyeing $847 in new funding

PLS – formerly known as Pilbara Minerals – is catching investor interest after announcing a new US$600 million (AU$847 million) debt funding issuance.

Shares in the ASX 200 lithium stock are up 3.7% at time of writing, trading for $5.59 each.

Management said that the initial offer size of the senior unsecured notes was increased by US$100 million from US$500 million. They come due in 2031 at an annual interest rate of 6.88%. PLS expects settlement next week, on 22 April.

The lithium miner intends to use to proceeds to refinance its AU$375 million drawn on revolving credit facility and for general purposes.

The PLS share price is up a blistering 308% in 12 months.

New Hope shares lift on refinancing deal

Atop PLS and Viva Energy shares, New Hope is also making financial headlines today.

Shares in the ASX 200 coal stock ae up 1.9% at $5.49 each after the company announced its own new funding arrangement.

The coal miner reported the launch of $300 million in senior unsecured convertible notes due 2032. New Hope said it will also repurchase of up to 100% of the existing $300 million convertible notes, which are due 2029.

The coupon rate for the new notes is set in the range of 2.38% to 2.88% per year.

"Through this transaction, we are proactively refinancing our 2029 notes at improved terms, extending our debt maturity profile and reducing our financing costs," New Hope chief financial officer Rebecca Rinaldi said.

New Hope shares are up 54% in a year.

The post Why is everyone talking about New Hope, PLS and Viva Energy shares on Thursday? appeared first on The Motley Fool Australia.

What did PLS Group report?

• Priced US$600 million Senior Unsecured Notes, due 2031, at 6.875% annual interest
• Initial offer size increased by US$100 million from US$500 million
• Settlement expected on 22 April 2026, subject to customary closing conditions
• Interest payable semi-annually, starting 1 November 2026
• Certain wholly-owned subsidiaries will guarantee the Notes
• Proceeds to refinance A$375 million drawn on revolving credit facility and for general use

What else do investors need to know?

The move will allow PLS Group to refinance its existing A$375 million balance on its A$1 billion revolving credit facility. Upon closing the Notes offering, the size of this facility will be reduced to A$500 million, strengthening the company's capital structure and flexibility.

PLS Group remains a major player in global lithium supply with its large-scale Pilgangoora operation in Australia and a strategic joint venture with POSCO in South Korea to produce battery-grade lithium hydroxide. The company's assets and partnerships put it at the forefront of the fast-growing battery materials sector.

What's next for PLS Group?

With proceeds from the Notes partially allocated to refinance existing debt and the remainder for broader corporate purposes, PLS Group looks set to maintain its investment in current projects and potential new opportunities in lithium. The company remains committed to advancing its role in the global energy transition and building on relationships with leading international partners.

Investors can expect PLS Group to focus on sustainable growth and maintaining a competitive position in battery materials, supported by prudent capital management and a robust asset base.

PLS Group share price snapshot

Over the past 12 months, PLS Group shares have risen 293%, outperforming the S&P/ASX 200 Index (ASX: XJO) which has risen 16% over the same period.

View Original Announcement

The post PLS Group prices US$600m in senior notes for growth and refinancing appeared first on The Motley Fool Australia.

This has prompted plenty of coverage from the team at The Motley Fool about where investors should be scooping up value shares.

In addition to plenty of shares that may have been oversold during March, there are also ASX stocks that ignored broader market negativity and powered ahead. 

Let's look at three that have flown higher in 2026 despite broader volatility.

4DMedical Ltd (ASX: 4DX)

For those who missed it, 4DX Medical was one of the best ASX stocks to own in 2025. 

It is a medical technology company working in the field of respiratory imaging and ventilation analysis in the treatment of lung and respiratory diseases.

The company's non-invasive lung imaging technology emanates from research work undertaken at Monash University. 

It is the first FDA-cleared respiratory imaging solution that uses mathematical models and algorithms to convert sequences of X-ray images into four-dimensional quantitative data.

In the last 12 months, this ASX stock has risen 2,000%. 

Yes, you read that right. 

While this rapid pace has slowed, it has still enjoyed a 39% rise year to date. 

For context, the S&P/ASX 200 Index (ASX: XJO) is up just 2.8% in the same period. 

So, where to now for this ASX stock?

Many holders would be considering profit-taking, while those on the outside looking in might have missed the boat. 

The Motley Fool's Samantha Menzies dove into this question recently, pointing out the gamble that some investors might be taking. 

It's possible this runaway train is now rising more on hype and hope rather than concrete earnings. 

Analysts forecasts via TradingView indicate it is now above fair value by approximately 34%. 

PLS Group Ltd (ASX: PLS)

PLS is an Australian lithium-tantalum producer positioning itself at the forefront of the rapidly growing global lithium industry.

While it hasn't been all smooth sailing, PLS shares are up 25% year to date and 283% in the last 12 months. 

Global lithium prices have been driving this growth, along with its dominant market position here in Australia. 

These drivers could continue to benefit this ASX 200 stock in the long term. 

However, 17 analyst forecasts via TradingView indicate that right now, it is trading close to fair value. 

Resolute Mining Ltd (ASX: RSG)

Resolute Mining is an Australia-based gold producer.

Like most gold stocks, it rallied throughout 2025. 

But while many other companies in the sector have fallen this year, Resolute Mining shares have continued to climb a further 17% in 2026. 

Unlike the previous ASX stocks mentioned, experts think Resolute Mining shares can continue to climb. 

7 analysts via TradingView have an average one-year price target of $2.13. 

This suggests a potential upside of 47% from current levels. 

The post Will these top-performing ASX stocks keep charging higher? appeared first on The Motley Fool Australia.

In afternoon trade, the PLS share price is up 1.87% to $5.44, after touching a fresh record of $5.49 earlier in the session.

The move extends an already powerful run in 2026, with the lithium giant now up around 30% since the start of the year.

Over 12 months, the move is even more impressive, with the shares up more than 280%.

That leaves PLS sitting at the very top of its 52-week range and once again among the ASX's strongest large-cap resources performers.

So, what is pushing the shares to another record?

Lithium prices keep improving

The biggest support remains the commodity backdrop.

Lithium carbonate prices in China have continued rising through April, recently pushing to around CNY 161,500 per tonne. Overall, that marks a strong recovery from last year's lows and has helped lift sentiment across the lithium sector.

With Pilgangoora already producing at scale, firmer lithium prices can flow through earnings expectations quickly. This is helping keep buying interest strong as the commodity trend continues to improve.

The market is also looking ahead to what this could mean for FY27 profits if current pricing levels hold.

Scale and cost position still stand out

PLS remains one of the ASX's largest and most established lithium producers.

Its size, existing production base, and relatively low-cost position leave it well placed if spodumene and lithium carbonate prices continue improving.

At the current share price, the company's market capitalisation sits around $17.5 billion, which keeps it in large-cap territory and among the most influential lithium names on the ASX.

The company's expansion work and downstream partnerships also continue to support the longer-term outlook.

With fixed infrastructure already in place, any further lift in realised prices should help margins improve.

Foolish Takeaway

Today's fresh record high reflects how quickly sentiment has turned across the lithium sector as prices continue to rebound.

I still think the commodity price backdrop will be the main driver from here. If the recovery in China pricing continues, PLS looks well placed to keep benefiting, given the strength of Pilgangoora and its established market position.

After a 30% gain already this year, I would not expect the same pace of gains from here. The next move higher may need another leg up in lithium pricing or another strong quarterly update from the company.

The post This ASX lithium giant just hit a record high again. Here's why investors keep chasing it appeared first on The Motley Fool Australia.

It is highly leveraged to what happens with the lithium price because it's a commodity business. When the resource price rises, it's almost all extra profit for the company – aside from paying more to the government – because it's more revenue for the same level of production (and costs).

With the lithium price significantly higher than where it was a year ago, it's no wonder the PLS Group share price has soared. Where could it go next? Let's take a look at some expert projections.

PLS Group share price target

A price target tells us where analysts think the share price will be in 12 months from the time they make that investment call.

According to CMC Invest, there are currently six buy ratings and six hold ratings on the business. However, the average price target is $5, implying a mid-single-digit decline in percentage terms.

The most optimistic price target is $5.72, suggesting a possible mid-single-digit rise, though the worst price target is $2.51, suggesting a possible drop of more than 50%.

In other words, investors are cautious about the valuation that the business has reached. However, it's generally expected to hold onto its gains from the last year rather than suffer a big decline.

How has profitability changed?

The most recent result from the company was the FY26 half-year result, which was a perfect demonstration of how much better operating conditions are.

While the business reported a 6% increase in production to 432.8kt and the realised price for its lithium increased 40% to US$965 per tonne.

The big jump in the lithium price jumping by 47% to $624 million, underlying operating profit (EBITDA) jumped 241% to $253 million and the net profit after tax (NPAT) surged by 147% to $33 million.

Part of the reason why earnings increased so much was because its unit operating costs per tonne improved in the high single-digits.

What is the PLS Group share price valuation?

The projection on CMC Invest suggests that the business could generate earnings per share (EPS) of 13.5 cents in the 2026 financial year, which means the PLS Group share price is currently valued at 40x FY26's estimated earnings.

It's currently forecast to see EPS climb to 23.5 cents in FY27, which would be a year-over-year increase of around 75% if those predictions come true.

That means that the ASX lithium share is currently valued at 23x FY27's estimated earnings.

The post Up 106% in six months, here are the latest growth forecasts for the PLS Group share price appeared first on The Motley Fool Australia.

While the share price isn't storming higher today, it comes off the back of some strong and consistent gains. 

Over the past month, PLS shares have climbed 19.5%, they're up 23% for the year to date, and a huge 321% higher over the year.

With an upsized market cap of $17 billion, PLS was recently added to the S&P/ASX 50 Index (ASX: XFL). At the time of writing, its shares are also the third-highest annual performer on the S&P/ASX 200 Index (ASX: XJO).

What pushed PLS shares higher?

The Australian lithium miner's shares have had an incredible run over the past year, soaring from a 52-week low of $1.07 a piece in June last year to a 12-month high of $5.30 on Wednesday last week.

A lot of the share price increase is due to a rally in lithium prices and sentiment, primarily driven by a surge in interest in electric vehicles (EVs) and battery energy storage. 

Global EV sales have been rising faster than carmakers can keep up, and demand for grid-scale energy storage amid a shift towards renewable energy is also soaring.

This is especially the case recently, after the ongoing conflict in the Middle East threatened global fuel supplies and prompted a shift towards EVs as an alternative.

As owner and operator of one of the world's largest independent hard rock lithium mines, Pilgangoora in Western Australia, PLS has naturally scooped up a lot of the demand.

But it's not just market fundamentals that have pushed the company's share price from strength to strength over the past year. The business is also booming.

In February, the miner posted a bumped first-half FY26 results. It revealed a huge 47% jump in revenue, its underlying EBITDA flew 241% higher, and net profit came in at $33 million (reversing a $69 million loss in the prior period).

PLS said that looking ahead, it will prioritise balance sheet strength and operational flexibility as lithium market conditions evolve. The company is also progressing projects in Australia and Brazil.

In other exciting news, the board has also indicated it would consider paying shareholders a dividend from its full-year results if the market remains promising. It hasn't paid a dividend since 2023.

Can the share price keep storming higher? Or is it time to sell up?

Analyst sentiment on PLS shares is still mostly positive, even after the latest price rises.

TradingView data shows that nine out of 16 analysts have a buy or strong buy rating on the stock. Another seven analysts have a hold rating.

The average target price of $4.87 implies a potential 8% downside at the time of writing, but others think the shares could jump another 26.5% to $6.70.

Earlier this year, UBS said it expects that an 11% increase in lithium demand could push the market into a deficit from 2026 onwards. Based on that, the broker has lifted its lithium (SC6 CFR China) forecast by 64% in 2026 to US$1,800 per tonne. The broker anticipates lithium prices could jump up to US$2,625 per tonne in 2028. 

This is great news for PLS as it positions itself to pick up even more demand. I think we could see plenty more out of the miner this year.

The post PLS shares jump 320% in 12 months: Buy, sell or hold? appeared first on The Motley Fool Australia.

The S&P/ASX 200 Index (ASX: XJO) is currently up 0.5%, with the materials sector today's strongest riser, up 0.8%.

After a 32% surge in CY25, the materials sector managed just a 1.1% gain over 1Q CY26.

This was largely due to the war in Iran creating an ongoing oil shock, which threatens to limit ASX miners' production and earnings.

The materials sector fell 14.1% in March, but a rebound appears underway, with the materials index reversing course last Tuesday.

Blackwattle Investment Partners discussed several ASX mining shares in its recent round of monthly newsletters.

Here's what the fund manager had to say about the market's largest diversified ASX mining share and its biggest lithium producer.

BHP Group Ltd (ASX: BHP)

The BHP share price is $52.88, up 0.6% today.

The market's largest ASX 200 mining share fell 11% over the past month, but is still 38% higher over 12 months.

Blackwattle holds BHP shares in its Large Cap Quality Fund.

Portfolio managers Joe Koh and Elan Miller said BHP delivered a "solid" 1H FY26 result.

Both EBITDA and NPAT were +3% ahead of consensus driven primarily by a strong performance from the Copper division which is now the largest contributor to earnings for BHP (surpassing Iron Ore).

FCF generation was also strong and led to debt repayment and better than expected capital management in the form of dividend.

The managers believe BHP will continue to outperform the market, adding:

BHP continues to extract value from its portfolio, announcing the sell down of Antamina's silver-stream for US$4.3bn while maintaining their (BHP's) exposure to the Copper, Zinc and Lead at the mine.

BHP has identified a further US$4b of potential value to be unlocked from within their portfolio which should continue to see BHP outperform the market.

BHP called out ex China, European demand picking up, US remains steady and India continues to grow, and we believe given tight supply and fundamental demand for commodities keeps BHP well placed to benefit moving forward.

PLS Group Ltd (ASX: PLS)

The PLS Group share price is $5.21, down 1.8% on Thursday.

The market's largest ASX 200 lithium mining share has skyrocketed 238% over the past 12 months.

PLS Group shares have risen alongside a remarkably strong recovery in lithium commodity prices since mid-2025.

The ASX 200 mining share has also benefited from changed global supply/demand dynamics since major producer, Zimbabwe, announced export limits to encourage the development of on-shore downstream processing.

Blackwattle holds PLS Group shares in its Mid Cap Quality portfolio.

Portfolio managers Tim Riordan and Michael Teran said PLS Group operates relatively low-cost, long-life lithium mines.

They note the company's strong balance sheet, which they said provides flexibility and a competitive advantage to indebted peers.

Riordan and Teran said:

We continue to see material upside for PLS as an 'improving quality' business and view PLS as the highest quality, lithium miner on the ASX.

PLS delivered a strong 1H26 result and announced the signing of a 2-year offtake agreement with strong price floors and unlimited
price upside, cementing PLS's position as the go-to lithium spodumene producer.

This has allowed PLS to de-risk the restart of its higher cost Ngungaju spodumene plant, driving significant potential earnings upside in FY27.

PLS is finally seeing the benefits from the P1000 expansion, and PLS is extremely well placed to benefit from any further recovery in lithium prices, with strong operations and significant production growth optionality, allowing for continued shareholder value creation through the cycle.

The post 2 ASX 200 mining shares this fund manager is backing for long-term growth appeared first on The Motley Fool Australia.

When it comes to a return of that size, I think it's a good idea to remember that disclaimer that past performance is not a reliable indicator of future performance.

I'm certainly not expecting another 130% rise in the next six months.

But it is worth considering whether the ASX-listed lithium share is a buy and could rise from here.

What do experts make of the PLS Group share price?

According to CMC Invest, of 13 ratings on the business over the last three months, six have been buys, six have been holds, and one has been a sell.

However, due to the strength of the recent rise – it's up 25% this year alone – it has flown past previous price targets. A price target is where experts think the business will be trading in 12 months from the time of the rating.

Of those 13 ratings, the average price target is $4.72. That suggests a possible decline of more than 12% from where it is at the time of writing.

The most optimistic price target is $5.53, suggesting a potential 2% rise.

The lowest price target is $2.47, implying a possible decline of more than 50% over the next 12 months.

Is the ASX lithium share good value?

I can understand why the market is more excited about the business. The lithium price has increased, and the Middle East conflict has highlighted the risks of being dependent on fossil fuels, including how the cost can jump if the supply is impacted.

Electric vehicles look a lot more appealing, and I wouldn't be surprised to see elevated demand for the foreseeable future.

I'm not sure how much this will accelerate global demand for (lithium) batteries across cars, trucks, and heavy equipment, but I believe this will certainly help significantly.

It is somewhat surprising how much the PLS Group share price has risen – it's back to where it was a few years ago, but the lithium price is still significantly lower.

The earnings estimate on CMC Invest suggests the business could generate 23.6 cents of earnings per share (EPS) in FY27. That means that it's valued at more than 22x FY27's estimated earnings.

I'm optimistic about long-term demand for lithium because of electrification and energy storage requirements. I also believe PLS Group will continue growing its total production over time to supply that demand

However, this doesn't seem like a good time to invest unless the lithium price were to rise significantly from here.

I'd look at other opportunities available to Australians.

The post Should I buy PLS Group shares in April? appeared first on The Motley Fool Australia.

ASX mining shares have been the worst hit by the war in Iran, with the materials sector losing 15.3% of its value since the conflict began.

Some investors took profits this month after a strong run for ASX 200 mining shares, amid fears that higher diesel prices and potential shortages could hurt earnings and production for 2H FY26.

ASX 200 mining shares have also declined alongside metals prices, with gold down 17%, silver down 22%, lithium carbonate down 8%, and copper down 7% over the month. Iron ore has demonstrated resilience, rising 7% over the period to US$106 per tonne on Friday.

With the US and Iran still negotiating a 15-point plan for peace, it is hoped this war and the ensuing global oil shock will be over soon.

This may have motivated some investors to take up new or enhanced positions in ASX 200 mining shares last week, given the bright long-term outlook for the sector and the opportunity to buy the dip.

Reflecting the miners' fightback last week, the S&P/ASX 300 Metal & Mining Index (ASX: XMM) rose 4.4% while the benchmark S&P/ASX 200 Index (ASX: XJO) gained 1% to finish at 8,516.3 points.

Seven of the 11 market sectors finished in the green last week.

Let's recap.

ASX 200 mining shares fight back

The BHP Group Ltd (ASX: BHP) share price increased 6.1% to close at $50.37 on Friday.

BHP shares reached a record $59.39 on 3 March before the war prompted investors to take profits.

Despite last week's rebound, the ASX 200's largest mining stock remains 13.8% lower over 30 days.

Rio Tinto Ltd (ASX: RIO) shares lifted 4.3% to $153.23 last week, while Fortescue Ltd (ASX: FMG) gained 6.5% to $20.19.

The Mineral Resources Ltd (ASX: MIN) share price soared 9.7% to $56.69.

South32 Ltd (ASX: S32) shares increased 1.3% to $4.03 per share.

ASX 200 copper share Sandfire Resources Ltd (ASX: SFR) lifted 1.8% to $15.88, while Capstone Copper Corp (ASX: CSC) edged 0.6% lower to $10.14.

ASX 200 lithium shares had a ripsnorter of a week, with PLS Group Ltd (ASX: PLS) rocketing 21.8% to close at $5.15 on Friday.

The Liontown Ltd (ASX: LTR) share price soared 20.9% to $1.77, and Core Lithium Ltd (ASX: CXO) gained 11.9% to 24 cents.

Nickel and lithium producer IGO Ltd (ASX: IGO) lifted 16.5% to $7.93 per share.

Lynas Rare Earths Ltd (ASX: LYC) shares closed the week 2.7% higher at $10.08 apiece.

Bauxite and alumina producer Alcoa Corporation CDI (ASX: AAI) lifted 3.5% to $85.95 per share.

What about ASX gold shares?

The market's largest ASX 200 gold share, Northern Star Resources Ltd (ASX: NST) rose 0.3% to close at $18.55 on Friday.

The Evolution Mining Ltd (ASX: EVN) share price lifted 0.4% to $12.46, and Newmont Corporation CDI (ASX: NEM) rose 3.1% to $146.85.

Among the mid-caps, Vault Minerals Ltd (ASX: VAU) shares lifted 2.1% to $3.96, and Regis Resources Ltd (ASX: RRL) rose 1.1% to $6.26.

Gold and copper miner, Greatland Resources Ltd (ASX: GGP) fell 3.5% to $9.76.

ASX 200 market sector snapshot

Here's how the 11 market sectors stacked up last week, according to CommSec data.

Over the five trading days:

The post ASX 200 mining shares rebound after March sell-off creates opportunities appeared first on The Motley Fool Australia.

As such, we head into the weekend with the ASX 200 at 8,516.3 points.

This disappointing conclusion to the week's trading for Australian investors was preceded by an even more downbeat morning on the American markets.

The Dow Jones Industrial Average Index (DJX: .DJI) gave up an early lead to finish at a significant 1.01% loss.

The tech-heavy Nasdaq Composite Index (NASDAQ: .IXIC) was hit even harder, falling by 2.38%.

But let's return to the local markets now and dive a little deeper into how the various ASX sectors fared amid today's tough trading conditions.

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

Oil prices have skyrocketed since Israel and the US attacked Iran one month ago.

Over the past 30 days, the Brent crude oil price has jumped 38% while US West Texas Intermediate (WTI) has risen 31%.

UBS analysts see "the potential for another upcycle" in lithium prices, which began rebounding from a two-year rout in mid-2025.

Last year's rebound was driven by greater global demand for batteries, EVs, and power infrastructure due to the green energy transition.

Lithium spodumene prices rose from less than US$600 per tonne in June last year to over US$1,400 per tonne by December.

Today, lithium spodumene is fetching US$2,230 per tonne, according to Shanghai Metals Market.

UBS sees potential for the spodumene price to reach US$4,000 per tonne by the end of the year. 

The lithium carbonate price rose to a two-year high of about US$26,200 per tonne in January, before paring back to US$22,650 today.

Let's take a look at the changes UBS has made to its ratings and 12-month price targets for ASX lithium shares.

ASX lithium shares re-rated

UBS has upgraded IGO Ltd (ASX: IGO) shares from a neutral to buy rating with a slightly improved 12-month price target of $8.55.

On Friday, the IGO share price is $7.94, up 4.1% today, down 7.8% since the war in Iran began, and up 90% over 12 months.

UBS reiterated its buy rating on Liontown Resources Ltd (ASX: LTR) and raised its target by 4.8% to $2.20.

The Liontown share price is $1.72, up 0.7% on Friday, 0.7% higher over the month, and up 161% over the past year.

The broker downgraded the market's largest lithium pure-play miner, PLS Group Ltd (ASX: PLS), from a buy rating to neutral.

UBS put a price target of $4.95 on PLS shares.

On Friday, the PLS Group share price is $5.06, up 1.8% today and down 2.5% since the war began.

PLS shares have ripped 174% over the past year and reached a two-and-a-half-year high of $5.32 last month.

Trading Economics analysts say there are "signs of a momentary pullback in battery demand" as the war in Iran drags on.

On Friday, the analysts said:

Electric vehicle sales by top Chinese manufacturer BYD tanked 40% annually in February, a reversal from the growing trend in the previous months to raise concerns that the Chinese EV market may be slowing.

The data magnifies worries that higher energy costs due to war in the Middle East could hamper large manufacturers from building input goods inventories, driving industrial metals to pull back.

Still, Chinese supply was also expected to remain muted due to Beijing's anti-involution campaign.

Last year, data showed increasing sales of EVs in China, with EVs outselling traditional cars for the first time in October.

Trading Economics reported that EV sales in China grew 20.6% annually to a record of 1.823 million units in November.

The post ASX lithium shares 'compelling' as top broker adjusts ratings appeared first on The Motley Fool Australia.

The outlook for this ASX lithium stock looks bright, as lithium sits at the heart of electrification. Short-term volatility aside, long-term demand for battery materials remains strong with the global shift towards electric vehicles and battery storage in full swing.

And there are other reasons to like PLS Group.

A world-class lithium operation

At the heart of the business is the Pilgangoora project in Western Australia. It's one of the largest independent hard-rock lithium operations globally.

That matters. Large, long-life assets are gold in the resources sector. They can generate strong cash flow across multiple commodity cycles. When prices rise, they print money. When prices fall, the best assets survive.

This $16 billion ASX lithium stock ticks that box.

And it's not just about size. It's about execution. In its latest interim result, production climbed to 432.8kt, while sales reached 446kt for the half. That's a strong operational performance in a volatile market.

Even more impressive? The company is improving as it grows. Unit costs are falling. Realised prices have lifted. That combination shows operational discipline — and leverage when lithium markets turn favourable.

Built to handle the cycle

Lithium is a cyclical game. Prices can swing hard.

That's why balance sheet strength matters — and this ASX lithium stock has it. The company finished the half with around $954 million in cash and total liquidity of roughly $1.6 billion.

That's a serious buffer. It means management doesn't have to panic when prices dip. Instead of cutting back, it can invest through the cycle and position the business for the next upswing.

For long-term investors, that kind of resilience is critical.

Bold South American move

This ASX lithium stock isn't standing still. About a year ago, PLS made a bold move — acquiring Latin Resources for roughly $560 million. That deal added the Colina lithium project in Brazil to its portfolio.

Timing was everything. The acquisition came near the bottom of the lithium cycle, when asset valuations were under pressure. In a stronger market, the same deal likely would have cost much more.

Now, PLS has a potential second growth engine. Pilgangoora continues to generate cash, while Colina offers future upside. That's a powerful combination.

Riding the energy transition

Zoom out, and the long-term picture looks compelling. Lithium demand is expected to surge over the next decade. Electric vehicles, battery storage, and renewable energy systems all rely on it.

No one can predict short-term price moves. Volatility will remain. But companies with large, low-cost, high-quality assets tend to win over time.

The ASX lithium stock fits that profile. It already has scale and has established partnerships across the lithium supply chain. On top of that, it has proven it can operate efficiently.

Foolish Takeaway

Pilbara Minerals is not immune to lithium price swings. The ride won't always be smooth. But with a world-class asset, a strong balance sheet, and smart expansion moves, it looks well placed for the long term.

For investors betting on the energy transition, this is one ASX lithium stock worth serious attention.

The post 3 reasons to buy this high flying ASX lithium stock for the long term appeared first on The Motley Fool Australia.

ASX 200 energy shares have surged 17%, while materials stocks — incorporating mining shares– have been the worst hit, down 19%.

While the broader market has fallen heavily this month, many investors have responded in a surprising way.

Exclusive data from online investment platform Stake implies that some investors are buying the dip.

The data reveals the 10 most traded ASX 200 shares on the platform between 2 March and 18 March.

The strongest hint that a buying-the-dip trend is afoot is that only one ASX 200 energy share is among the 10 most traded stocks.

That's despite energy shares being the clear momentum trade this month.

Another strong hint is that several of the 10 most traded stocks have experienced significant declines over the past 12 months.

Perhaps some investors see long-term opportunity in these downtrodden stocks, some of which are trading at multi-year lows.

Prime examples include CSL Ltd (ASX: CSL), Zip Co Ltd (ASX: ZIP), Xero Ltd (ASX: XRO), and Wisetech Global Ltd (ASX: WTC).

Yesterday, we looked at the first five of the top 10 most traded ASX 200 shares since the war began.

Here, we reveal the ASX 200 shares ranking six to 10 in that group, and ponder why they're among the most traded this month.

CSL Ltd (ASX: CSL)

The CSL share price closed at $139.39 yesterday, down 0.3%.

The market's largest healthcare stock has been the sixth most traded ASX 200 share on the Stake platform this month.

Long considered an ASX 200 blue chip, CSL has been in a downward spiral since mid-2024.

CSL shares have fallen 5% since the war in Iran began, and hit an eight-year low of $133.35 this month.

The CSL share price is down 45% over 12 months.

Multiple macro issues, such as falling global vaccination rates and company-specific challenges, have profoundly impacted CSL's valuation.

Northern Star Resources Ltd (ASX: NST)

The Northern Star Resources share price closed at $17.57 yesterday, up 2.1% for the day and down 2% over 12 months.

The gold stock has been the seventh most traded ASX 200 share on the Stake platform this month.

Northern Star shares have fallen 42% since the war began, although a second guidance downgrade from the miner contributed to the fall.

The 16% 30-day decline in the gold price has also contributed, as investors deleverage and US Treasury yields reach a 10-month high.

Many experts maintain ambitious forecasts for the gold price amid structural long-term tailwinds, primarily central bank buying.

PLS Group (ASX: PLS)

Formerly known as Pilbara Minerals, PLS Group is the market's largest ASX 200 pure-play lithium share.

PLS closed at $4.54 per share yesterday, up 6.6%, making it the second-fastest riser of the ASX 200 on Tuesday.

So far in March, PLS shares have tumbled 12.5% amid lithium prices holding up fairly well during the Iran conflict.

The lithium carbonate price has fallen by only 3.6% over 30 days.

Lithium has a bright outlook given the green energy transition and resurgent demand for electric vehicles (EVs).

There is no dip to buy with this stock, which has risen 141% over 12 months.

As the eighth most traded ASX 200 share on the Stake platform this month, it's likely investors are cashing in their gains.

Lynas Rare Earths (ASX: LYC)

The Lynas Rare Earths share price closed at $19.56 on Tuesday, up 3.2%.

The ASX rare earths share is vastly outperforming its peers in the materials sector this month.

The Lynas share price has increased 3.1% since 28 February, and is up 172% over 12 months.

Strong interest in critical minerals and positive company news appear to have insulated Lynas shares from the broader market downturn.

Lynas announced the extension of a Japanese offtake agreement to 2038, and first production of samarium oxide at its Malaysia site.

Experts say the next mining boom will centre on critical materials with industrial applications tied to electrification and energy security.

Xero Ltd (ASX: XRO)

The Xero share price finished at $74.95 yesterday, down 2.2% for the day and down 54% over six months amid the broader tech downturn.

Xero shares have been smashed due to fears about AI's potential impact on SaaS businesses.

However, many experts think the sell-off has been overdone, and perhaps many Stake investors agree.

This might be why Xero was the 10th-most-traded ASX 200 share on the platform between 2 and 18 March.

Xero shares have fallen 9.9% since 28 February.

Foolish takeaway

Here are some words of wisdom from Kylie Purcell, Senior Markets Analyst at Stake, regarding the ASX 200's volatility this month:

For equity investors, this is another reminder of how unpredictable the markets can be during a geopolitical crisis.

Prices can swing sharply in both directions as more information emerges and these moments can become incredibly difficult to trade.

The key for investors is not to react to every headline or price swing and to remain diversified.

The post The war in Iran has inspired an unexpected ASX 200 market trend appeared first on The Motley Fool Australia.

The ASX 200 materials sector, which is dominated by mining stocks, has slumped 19% while energy shares have rocketed 17%.

It's likely that some investors have sold their ASX mining shares to preserve tremendous recent capital gains.

Before Israel and the US bombed Iran on 28 February, the materials sector was up 19% in 2026 alone.

Even more astounding, ASX 200 materials shares had lifted 56% over the preceding 12 months.

How is the war impacting ASX mining shares?

The war has created a fuel crisis, with the Brent Crude oil price tearing 42% higher in just 30 days.

Gas prices have skyrocketed, too.

European gas prices are up 83%, UK gas is up 91%, and German gas is up 77% over 30 days.

Rising fuel costs are a headwind for mining companies, as well as most other industrial businesses.

Higher operating costs will be partly offset by strong commodity prices after a very strong run last year.

But the more pressing concern is the potential for constrained fuel supply if the war drags on.

This would impact the miners' production, exports, and earnings.

Of course, this may not materialise, with US President Donald Trump repeatedly indicating that the war will be over soon.

But when there's fear in the market, investors often act on emotion, and we're likely seeing a bit of that today.

The longer-term view is that Australia is at the start of a new mining boom that will be different from the last.

Experts say there are 5 key drivers behind a new commodities supercycle that became apparent last year.

The Iran conflict won't change that.

In a new article, David Rumbens, a partner at Deloitte Access Economics, says:

Beyond the headline disruption, the latest data paints a positive picture of Australian mining output, investment and exploration.

Mining was the fastest-growing industry in the December quarter, becoming an increasingly important driver of Australia's economic growth.

Data from the Australian Bureau of Statistics (ABS) National Accounts show that mining gross value added grew by 3.7% over the year to December 2025 – well above GDP growth of 2.6% — marking the first time in nearly two years that the sector has outpaced the broader economy.

Miners ramping up exploration spending

Rumbens said mining exploration spending is growing, with gold expenditure surging to a record high in the December quarter.

He said total new-deposit spending across all commodities grew 7% year over year.

The lift in exploration suggests the industry is investing to sustain its production base as existing reserves deplete.

While exploration and output are expanding, Rumbens said investment had not yet followed to the same extent.

He said capital expenditure has stabilised at about 1.9% of GDP per annum over the past six years.

That's well down on the peak of 6.2% during the height of the last mining boom.

Rumbens said Deloitte's Tracking the Trends 2026 highlights the growing role of technology in maintaining mining's competitive edge.

The report notes that the exponential growth of AI is presenting transformative opportunities to elevate operational resilience and competitiveness by boosting productivity and revolutionising mineral discovery.

In exploration, it identifies that the starting point for future discoveries could be data, with firms that digitise and integrate diverse sources best positioned to leverage AI for faster, smarter discoveries.

Rumbens said export revenues are expected to hold above $370 billion over the next two years, with volumes near historical highs.

How have the major ASX mining shares fared since the war began?

The market's largest ASX mining share has fallen significantly since the conflict in Iran began.

The BHP Group Ltd (ASX: BHP) share price has fallen 17% to $48.46 today.

Last week, UBS reiterated its hold rating on BHP shares with a 12-month price target of $52.

Morgan Stanley reiterated its buy rating with a target of $56.

The Rio Tinto Ltd (ASX: RIO) share price has fallen 11% since 28 February to $148.74 on Tuesday.

Last week, Morgan Stanley reiterated its hold rating on Rio Tinto shares with a $146 target.

The market's largest ASX 200 gold mining share, Northern Star Resources Ltd (ASX: NST), has fallen 42% since 28 February to $17.63.

A second guidance downgrade from the miner contributed to its decline this month.

Last week, Ord Minnett reiterated its buy rating on Northern Star shares.

However, the broker slashed its price target from $29.70 to $23.70.

JP Morgan downgraded the ASX 200 gold mining share to a hold rating with a $24 target.

The largest ASX 200 lithium mining share, PLS Group Ltd (ASX: PLS), has fallen 12% to $4.54.

Yesterday, Ord Minnett reiterated its buy rating with a slightly improved 12-month price target of $5.55.

Last week, UBS maintained its hold rating on PLS shares with a $4.95 target.

The post ASX mining shares have slumped but long-term outlook is positive appeared first on The Motley Fool Australia.