That's what makes the following ASX dividend stocks stand out. They combine reliable businesses with long track records of growing shareholder income, making them worth a closer look for investors seeking rising passive income.

APA Group (ASX: APA)

Among Australia's leading ASX dividend stocks, APA Group has built an enviable reputation for income investors.

The company owns critical energy infrastructure, including gas pipelines, electricity transmission assets, and renewable energy connections. Much of its revenue is backed by long-term contracts, creating stable cash flows that support regular distributions.

APA has increased its annual distribution every year since 2004, an impressive record spanning more than two decades. Management expects to pay a FY26 distribution of 58 cents per security, while Bell Potter forecasts this will rise to 59 cents in FY27. Based on the current share price, that implies a forward yield of around 5.6%.

Although APA carries significant debt and faces the long-term energy transition, its growing investment in electricity and renewable infrastructure could help support future distribution growth.

Argo Investments Ltd (ASX: ARG)

Investors looking for diversified ASX dividend stocks should also consider Argo Investments.

Rather than operating a single business, Argo owns a broad portfolio of leading Australian companies, including Commonwealth Bank of Australia (ASX:CBA), BHP Group Ltd (ASX: BHP), and Rio Tinto Ltd (ASX: RIO). That diversification helps smooth returns while reducing company-specific risk.

Argo has paid dividends every year since 1946 and has delivered fully franked dividends since 1995.

The company recently lifted its interim dividend by 8.8% to 18.5 cents per share. Combined with its previous payment, shareholders have received 38.5 cents per share over the past year, equating to a grossed-up yield of roughly 4.3%, including franking credits.

Washington H. Soul Pattinson and Co. Ltd (ASX: SOL)

Few ASX dividend stocks can match Washington H. Soul Pattinson's remarkable consistency.

The diversified investment company has increased its annual dividend every year since 1998, putting it within reach of three decades of consecutive dividend growth.

Its portfolio spans resources, energy, telecommunications, agriculture, financial services, industrial property, and many other sectors. That diversification allows Soul Patts to generate cash flow from multiple sources while reducing reliance on any single industry.

Importantly, management reinvests part of its earnings rather than distributing every available dollar. That disciplined approach has helped grow both the business and its dividends over time.

Based on its two most recent payments, the ASX dividend stock offers a grossed-up yield of around 3.4%, including franking credits. While the yield isn't the highest on the market, its long history of increasing dividends may prove even more valuable for long-term investors.

Foolish takeaway

The best ASX dividend stocks don't simply offer attractive yields today. They keep rewarding shareholders year after year.

Companies with durable businesses, dependable cash flow, and a commitment to growing dividends can help investors build an income stream that keeps rising long after the initial investment.

The post Want a pay rise? These ASX dividend stocks could deliver one appeared first on The Motley Fool Australia.

So, to narrow things down, let's look at three popular ASX mining shares and see if Morgans rates them as buys, holds, or sells. Here's what you need to know:

Newmont Corporation (ASX: NEM)

Morgans is bullish on this gold giant. In response to its quarterly update, which revealed an in-line result, the broker retained its buy rating with a $194.00 price target. This implies potential upside of almost 45% for investors from current levels. It said:

A broadly in-line result with small beats and misses across the board despite the Cadia disruption, with the qoq earnings decline driven by a lower realised gold price rather than operating performance. NEM's capital returns remain best in class among its gold peers, with US$1.9bn returned this quarter implying a capital return yield of around 7-8%. Maintain BUY with a A$194ps target price.

Rio Tinto Ltd (ASX: RIO)

The broker was pleased with Rio Tinto's half-year results, noting that it was a strong and clean one. 

However, due to its current valuation, Morgans only has a hold rating and $159.00 price target on Rio Tinto's shares. It said:

RIO's 1H26 was a strong result and a clean one, but we expect it was management's talk of targeted US$5bn in H2 asset divestments (and resulting possible capital management) that drove RIO's outperformance on the day. Earnings were broadly close to estimates (EBITDA below / NPAT above), while operating cash flow of US$9,173m was 5.0% ahead of consensus, free cash flow rose 75% to US$3,834m, and net debt of US$14,061m came in below any market estimates. The interim dividend of US211cps (+43%) held the 50% payout. 

RIO is executing well, the balance sheet is in better shape than we forecast, and the productivity gains are real. The problem is that none of this is a secret. RIO trades on 6.9x CY26 EV/EBITDA against BHP's 7.2x. We maintain HOLD with a slight trim to our target price to A$159.00 from A$163.00.

Santos Ltd (ASX: STO)

Morgans is also sitting on the fence with energy producer Santos. It notes that the company has downgraded its production guidance for FY 2026. In response, the broker has retained its hold rating with a trimmed price target of $7.90. It said:

STO's 2Q26 came with a FY26 production guidance cut to 99-105mmboe from 101-111mmboe and delivered sales revenue 10% below consensus. However, we believe a solid 2H uplift is likely, driven by Barossa and Pikka both ramping up. At A$7.68, STO is already close to fair value on our numbers. 

Behind that sits the Federal east coast gas reservation process, on which STO is the most exposed gas producer in our coverage, a risk that is difficult to quantify and could easily escalate further in terms of implications for the gas industry. Maintain HOLD with A$7.90 target price (was A$8.30).

The post Buy, hold, sell: Newmont, Rio Tinto, and Santos shares appeared first on The Motley Fool Australia.

What did Monadelphous report?

• Kerman Contracting awarded a $165 million design and construction contract by Rio Tinto at Brockman Syncline 1 (BS1) in the Pilbara
• Scope covers heavy mine equipment workshop, washdown facilities, tyre change, fuel storage and refuelling infrastructure
• Project commencement set for 2026, with expected completion in 2028
• Contract further strengthens Kerman's and Monadelphous' forward order book
• Builds on Monadelphous' previously secured multidisciplinary construction work at BS1

What else do investors need to know?

Monadelphous continues to deepen its partnership with Rio Tinto, a key client for the company. The new contract broadens both Kerman's and Monadelphous' track record in non-process infrastructure within the Pilbara mining region.

Kerman Contracting is already actively involved in Rio Tinto's Hope Downs 2 site, underscoring the group's trusted relationship and reputation for reliable delivery. This latest win supports the company's strategy to target large-scale, long-term contracts in the resources sector.

What did Monadelphous management say?

Monadelphous Managing Director Zoran Bebic commented:

Kerman's award of this work builds on the multidisciplinary construction contract that Monadelphous secured at BS1 late last year. It is also very pleasing to see Kerman secure another contract with Rio Tinto, in addition to the work currently being performed at Hope Downs 2.

What's next for Monadelphous?

With this significant new contract on the books, Monadelphous expects to further strengthen its forward earnings visibility and cement its position as a major contractor in the resources industry. The company is likely to leverage this success in future tenders and continue focusing on growing its non-process infrastructure capability.

Investors can look forward to updates as the project moves through design and construction over the next few years, starting 2026.

Monadelphous share price snapshot

The Monadelphous share price has outperformed the S&P/ASX 200 index (ASX: XJO) over the past 12 months. During this time, the company's shares have risen a sizeable 46%.

View Original Announcement

The post Monadelphous lands $165m Rio Tinto contract appeared first on The Motley Fool Australia.

And your editor was not immune.

This came on Wednesday, when the S&P/ASX 200 Index (ASX: XJO) mining giant reported its half year results.

Here's why the company has soared back onto my passive income radar.

Rio Tinto dividend boost makes for appealing passive income play

Rio Tinto shares closed up 3.7% on Wednesday after the company reported a strong half year (H1 2026) of operations.

Among the highlights for the six months, the miner reported a 15% increase in revenue to US$31.0 billion. And underlying earnings before interest, taxes, depreciation and amortisation (EBITDA) were up 28% to US$14.8 billion.

The ASX 200 mining stock attributed the strong increases to a $3.6 billion benefit from stronger commodity prices, as well as $1.5 billion from higher volumes and operating cash unit cost improvements.

The half year saw benchmark prices for copper increase by 39%, while the gold price was up 53% and the aluminium price gained 33%. Rio also noted that iron ore prices remained resilient over the half, with the miner enjoying a 2% increase in its realised price.

On the bottom line, and driving that passive income interest, Rio Tinto reported a 47% increase in profit after tax to US$6.7 billion.

This saw management declare a fully franked interim dividend of AU$3.072 per share. That's up 38.4% from the 2025 Rio Tinto interim dividend. And at the recent share price of $166.72, it represents a pending fully franked yield of 1.8%.

If you want to bag that dividend, you'll need to own Rio Tinto shares at market close on 12 August. The ASX 200 miner trades ex-dividend on 13 August. You can than expect to see that passive income hit your bank account on 24 September.

Commenting on the passive income boost, Rio Tinto CEO Simon Trott said, "Our strong cash flow and balance sheet allow us to declare a US$3.4 billion interim ordinary dividend, up 43% [in US dollars], as we continue to invest in high-returning growth."

If we add in the AU$3.671 a share fully franked final Rio Tinto dividend, paid out on 16 April, then the ASX 200 mining stock trades on a fully franked yield (part trailing and part pending) of 4.1%.

Taking those franking credits into account, that works out to a grossed-up yield of 5.8%.

Atop the passive income on offer, the Rio Tinto share price has surged around 44% over the past 12 months.

The post Why Rio Tinto shares flew back onto my passive income radar this week appeared first on The Motley Fool Australia.

After confident gains throughout the early trading week that pushed the markets to a four-month high, investors got a reality check today, with the ASX 200 opening lower and remaining in red territory all session.

The index ended up finishing with a 0.78% loss by the time trading wrapped up, leaving it at 8,967.7 points.

This miserable Thursday for Australian investors came after an even tougher night over on Wall Street last night.

The Dow Jones Industrial Average Index (DJX: .DJI) was smashed, dropping a nasty 2.19%.

The tech-heavy Nasdaq Composite Index (NASDAQ: .IXIC) wasn't quite as bad, but still fell a significant 1.74%.

Let's return to the local markets now and examine how the different ASX sectors fared amid today's rough trading conditions.

Winners and losers

There were only a couple of sectors that weren't sold off this session.

But first, it was gold stocks that were hit hardest. The All Ordinaries Gold Index (ASX: XGD) saw its value plunge 3.65% this Thursday.

Mining shares were hit hard too, with the S&P/ASX 200 Materials Index (ASX: XMJ) tanking 1.59%.

Consumer discretionary stocks were also on the nose. The S&P/ASX 200 Consumer Discretionary Index (ASX: XDJ) cratered 1.39% today.

Real estate investment trusts (REITs) weren't much better, illustrated by the S&P/ASX 200 A-REIT Index (ASX: XPJ)'s 0.99% dive.

Utilities shares were in that ballpark as well. The S&P/ASX 200 Utilities Index (ASX: XUJ) saw its value shrink 0.85% this session.

Industrial stocks were close behind, with the S&P/ASX 200 Industrials Index (ASX: XNJ) sinking 0.83%.

Consumer staples shares were no safe haven. The S&P/ASX 200 Consumer Staples Index (ASX: XSJ) gave up 0.64%.

Nor were communications stocks, as you can see by the S&P/ASX 200 Communication Services Index (ASX: XTJ)'s 0.57% dip.

Healthcare shares had more sellers than buyers, too. The S&P/ASX 200 Healthcare Index (ASX: XHJ) tumbled 0.41%.

Our last losers were financial stocks, with the S&P/ASX 200 Financials Index (ASX: XFJ) sliding down 0.37%.

Turning to the winners now, it was tech shares that stole the spotlight. The S&P/ASX 200 Information Technology Index (ASX: XIJ) shot up a healthy 0.91% this Thursday.

The other safe haven was energy stocks, evident by the S&P/ASX 200 Energy Index (ASX: XEJ)'s 0.32% jump.

Top 10 ASX 200 shares countdown

Fast food stock Domino's Pizza Enterprises Ltd (ASX: DMP) was our top stock this Thursday. Domino's shares roared 9.08% higher to close at $19.59 each today.

This came after the company posted an earnings update after market close yesterday. Investors clearly liked what they saw.

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

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

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

Materials, which is dominated by miners, was the best performer of the 11 market sectors, rising 47% and giving a total return of 52% last year.

The artificial intelligence (AI) build-out, and an increasing desire for sovereign energy capability, is further driving the mining boom.

If you want to get in on the action, here are four ASX 200 mining shares that experts have rated buys after their June quarter reports.

Ramelius Resources Ltd (ASX: RMS) 

The Ramelius Resources share price is $3.10, down 2.8% today and up 18% over 12 months.

The ASX 200 gold miner released its June quarter report yesterday.

Ramelius Resourcres reported gold production of 53,466 ounces at an all-in sustaining cost (AISC) of $1,973 per ounce for the quarter.

The miner said it had operating cash flow of $191.2 million and underlying free cash flow of $138.3 million.

Ord Minnett retained its buy rating but reduced its price target from $5.30 to $4.80.

This still implies a potential 55% upside over the next 12 months.

Rio Tinto Ltd (ASX: RIO)

The Rio Tinto share price is $166.86, up 0.9% today and up 44% over 12 months.

Rio Tinto released its 1H FY26 results this week.

The miner reported a 15% increase in revenue to US$31 billion and a 28% rise in underlying EBITDA to US$14.8 billion.

JP Morgan reiterated its buy rating with a slightly reduced price target of $207.

This implies a potential upside of 24% ahead.

Newmont Corporation CDI (ASX: NEM)

The Newmont share price is $130.41, down 1.8% today and up 33% over 12 months.

Newmont released its 2Q FY26 report last week.

Morgans maintained its buy rating but cut its price target from $201 to $194.

This still suggests a potential near 50% gain ahead.

The broker commented:

A broadly in-line result with small beats and misses across the board despite the Cadia disruption, with the qoq earnings decline driven by a lower realised gold price rather than operating performance.

NEM's capital returns remain best in class among its gold peers, with US$1.9bn returned this quarter implying a capital return yield of around 7-8%.

Mineral Resources Ltd (ASX: MIN)

The Mineral Resources share price is $57.80, up 3.9% today and up 88% over 12 months. 

The ASX 200 mining giant released its 4Q FY26 report yesterday.

The miner said it had delivered record mining and lithium volumes in the June quarter.

The company also boasted achieving or exceeding guidance across all business segments and reducing net debt.

Morgans raised its rating from accumulate to buy with an unchanged $68 target.

This suggests an 18% upside ahead.

Morgans said:

MIN delivered a strong 4Q26 result, with production and cost beats across mining services, iron ore and lithium.

FY26 guidance was achieved or exceeded across every segment.

Net debt reduced to A$4.3bn (-8% below expectations) and is now below 2x ND/EBITDA on our FY26 EBITDA forecasts.

The post 4 ASX 200 mining shares to buy following quarterly updates appeared first on The Motley Fool Australia.

Yes, Rio Tinto released its latest half-year earnings yesterday morning before market open. As we covered at the time, there were many numbers to like in this report. Among those numbers were a 15% rise in revenues to US$31 billion, a 28% improvement in underlying earnings to US$14.8 billion, and a 75% spike in free cash flow to US$3.8 billion.

Not surprisingly, investors sent Rio shares up a healthy 3.67% yesterday, and have continued to push the miner higher so far this Thursday. At the time of writing, Rio is sitting at $167.74 a share. That's up a happy 1.42% for the session thus far.

But let's talk about the dividend that Rio Tinto unveiled. The miner announced that the next dividend it will pay out will be worth US$2.11 per share. That's up a healthy 42.5% from the US$1.48 per share payout Rio shareholders received in September last year.

This latest interim dividend will be paid out on 24 September. That's fter Rio Tinto shares trade ex-dividend next month on 13 August.

So let's talk about whether this dividend show of force makes Rio a buy for income today.

Rio Tinto shares: A buy for dividend income?

To start off with, let's note that Rio Tinto shares are currently trading with a trailing dividend yield of 3.54%. Saying that, this yield does not yet account for the dividend hike unveiled yesterday. The final amount in Australian dollar terms is yet to be revealed. However, we can pencil in about $3.03 (that's at today's rates).

If we combine that metric with the $3.67 per share final dividend from April, we get to a rough forward yield of about 4.03%.

That's obviously not a yield to turn one's nose up at. Especially with the full franking credits Rio has always offered with its payouts.

However, it is worth noting that Rio, as a miner, can never offer the kind of income stability that investors can expect from other ASX blue chip shares, perhaps Telstra Group Ltd (ASX: TLS) or Commonwealth Bank of Australia (ASX: CBA), with a more stable earnings base.

Rio's profits, and thus its ability to fund dividends, are perpetually at the mercy of volatile commodity markets. This means that although Rio has historically been able to afford massive payouts when prices are high, its dividends can be cut drastically if the market swings lower.

So income investors can certainly add Rio shares to a diversified income portfolio. But this is a company that should never be relied upon to keep its dividends steady.

The post Monster dividend: Are Rio Tinto shares a buy for income today? appeared first on The Motley Fool Australia.

Commodity prices boosting Rio Tinto's result

The company said in a statement to the ASX that its net profit for the first half increased 47% to US$6.66 billion, with strong performances across a number of commodities bolstering the result.

Rio Tinto Chief Executive Officer Simon Trott said:

We achieved a step-change in performance in the first half, which, alongside favourable commodity prices, delivered a 28 per cent increase in underlying EBITDA and a 75 per cent rise in free cash flow. Our continued investment in growth drove a 3 per cent increase in copper equivalent production and further strengthened our portfolio diversification, with Copper, Aluminium and Lithium contributing more than 50 per cent of underlying EBITDA.

Mr Trott said the company's productivity improvements underpinned the strong result.

He added:

We have already banked US$870 million of productivity benefits and are on track to reach an annualised run-rate of US$1.8 billion by year-end, with significantly more to come as our multi-year program continues to scale.

Rio Tinto will pay a dividend of US$2.11 per share, with an ex-dividend date of 13 August. The dividend will be paid on 24 September.

In terms of individual commodities, Rio produced 3% more copper compared with the same period the previous year, "driven by strong operational performance and continued ramp-up of our major growth projects, including copper from Oyu Tolgoi''.

The Pilbara iron ore division achieved its highest first-half iron ore production since 2018, and the aluminium operations also sustained their strong performance, Rio said.

Pilbara iron ore sales increased 4%, "underpinned by strong system performance and healthy stock levels'', despite impacts from poor weather in the first quarter.

The profit result, the company said, was "underpinned by significantly stronger copper, gold and silver prices across the portfolio contributing to a US$2 billion increase''.

Rio's net debt decreased by US$0.3 billion during the half to US$14.1 billion, and gearing was 16% at the end of June.

Are Rio Tinto shares overvalued?

RBC Capital Markets said the result was positive; however, it still has an underperform rating on Rio shares and a price target of $143.

The broker said the dividend was 3% above consensus estimates, and free cash flow of $3.8 billion was also well ahead of consensus.

Rio said it remained committed to paying out 40% to 60% of underlying earnings as dividends.

Rio shares were 5.1% higher at $167.60 in early trade.

The post Rio Tinto shares surge on dividend boost appeared first on The Motley Fool Australia.

What did Rio Tinto report?

• Revenue rose 15% to US$31.0 billion
• Underlying EBITDA climbed 28% to US$14.8 billion
• Net earnings attributable to shareholders increased 47% to US$6.7 billion
• Free cash flow up 75% to US$3.8 billion
• Interim ordinary dividend of US$3.4 billion, or 211 US cents per share (up 43%)
• Underlying return on capital employed at 17% (up from 14% in prior period)

What else do investors need to know?

The half year was marked by solid operational delivery, with copper equivalent production up 3% thanks to growth in copper, aluminium, and lithium. Pilbara iron ore operations recorded their highest first-half production since 2018, and the business achieved first production ahead of plan at key lithium projects in Argentina.

Rio Tinto's productivity program continues to gather momentum, realising US$870 million in benefits so far and targeting an annualised run-rate of US$1.8 billion by the end of 2026. The company also confirmed progress on major projects, including construction at Simandou in Guinea, Hope Downs 2, and the AP60 aluminium smelter in Quebec, each on track for key milestones.

What did Rio Tinto management say?

Rio Tinto Chief Executive Simon Trott said:

We achieved a step-change in performance in the first half, which, alongside favourable commodity prices, delivered a 28 per cent increase in underlying EBITDA and a 75 per cent rise in free cash flow… Our strong performance is underpinned by accelerating productivity across the business.

We have already banked $870 million of productivity benefits and are on track to reach an annualised run-rate of $1.8 billion by year-end, with significantly more to come as our multi-year program continues to scale. Our strong cash flow and balance sheet allow us to declare a $3.4 billion interim ordinary dividend, up 43 per cent, as we continue to invest in high-returning growth.

What's next for Rio Tinto?

Rio Tinto reaffirmed its full-year production and cost guidance across key commodities, with the mix of copper, aluminium, and lithium now contributing over half of underlying EBITDA. The group continues to invest in its multi-year productivity program and is focused on delivering major capital projects such as Simandou and multiple lithium expansions. Management also maintains a disciplined approach to capital allocation, aiming to release US$5–10 billion via portfolio management and other initiatives.

The company is targeting sustained cost reductions and portfolio diversification, supported by investments in decarbonisation and growth. It expects a full-year effective tax rate of ~25% and plans to maintain a strong balance sheet while returning 40–60% of underlying earnings to shareholders through the cycle.

Rio Tinto share price snapshot

Over the past 12 months, the Rio Tinto share price has outperformed the S&P/ASX 200 Index, supported by strong commodity prices and robust cash generation. During this time, the mining giant's shares have risen around 35%, compared to a 2.8% gain by the benchmark index.

View Original Announcement

The post Rio Tinto posts strong H1 2026 earnings, boosts dividend as copper and lithium shine appeared first on The Motley Fool Australia.

The S&P/ASX 200 Materials Index (ASX: XMJ), dominated by miners, soared 47% and produced a total return of 52%. 

The S&P/ASX 300 Metals & Mining Index (ASX: XMM), which captures more of the smaller explorers, did even better.  

ASX 300 mining shares rose 53%, and delivered a total return of 59%.

Let's take a look at some fresh buy, hold, and sell calls in the mining sector for FY27.

Evolution Mining Ltd (ASX: EVN)

The Evolution Mining share price is $11.24, down 2.3% today and up 55% over 12 months.

In its 2Q FY26 report, the miner reported production of 180,000 ounces of gold and 19,000 tonnes of copper.

Total FY26 production came in at 715,000 ounces of gold and 66,000 tonnes of copper.

The all-in sustaining cost (AISC) for gold in FY26 was AU$1,717 per ounce.

Evolution reported record operating mine cash flow of $3,394 million and net mine cash flow of $2,079 million.

Managing Director and CEO, Lawrie Conway, said:

FY26 continued to build on the improved consistent performance of the past couple of years, meeting Group production and cost guidance.

We are now fully unhedged and in a net cash position with a cash balance of $1,347M.

All high-return organic growth projects remain on schedule and budget.

JP Morgan maintained its buy rating on Evolution Mining shares after reviewing the report.

The broker trimmed its 12-month target from $14.30 to $14.10.

This suggests a potential 25% upside for FY27 for the ASX gold mining share.

29Metals Ltd (ASX: 29M)

The 29Metals share price is 25 cents, down 2% today and down 15% over 12 months.

For the June quarter, 29Metals reported copper production of 4.8kt and zinc production of 3.1kt at Golden Grove.

The miner said drilling continued to indicate the existing Mineral Resource Estimate could be expanded.

Development at Oizon, a high-grade copper ore reserve at Gossan Hill, is progressing with first ore expected by the end of 2026.

29Metals CEO James Palmer, said:

The team continue to advance development to the Gossan Valley and Oizon orebodies, and progress works to recommence mining at Xantho Extended in the December quarter.

The progressive ramp-up of mining from these high-grade ore sources is expected to provide mine plan flexibility and support metal production growth at Golden Grove from the end of 2026.

Capricorn Copper continues to present as a low capital intensity pathway to more than double 29Metals' annual copper production.

With water levels no longer an impediment to a restart of production, all focus is now on regulatory approval of our application for a new Tailings Storage Facility and completion of a Restart Definitive Feasibility Study by the end of 2026.

Morgans reiterated its hold rating on 29Metals shares after reviewing the report.

The broker commented:

Copper production missed forecasts, but copper sales and zinc, gold and silver production made up for it, leading to a ~30% revenue beat versus forecasts.

Liquidity remains sound. Cash and liquidity came in ahead of expectations.

The broker has a 12-month target of 26 cents on 29Metals shares.

This implies the ASX copper mining share is already near-fully valued.

Rio Tinto Ltd (ASX: RIO)

The Rio Tinto share price is $159.83, down 2.3% today and up 37% over 12 months.

For 2Q FY26, Rio Tinto reported a 3% increase in copper production and a 20% lift in lithium production year-over-year.

The company also reported a 5% increase in global iron ore sales.

Rio Tinto CEO, Simon Trott, commented:

We are delivering growth as we drive performance across the group, with copper equivalent production up 3 per cent in the first half.

Our scale, geographical diversification and sophisticated supply chains continue to underpin our resilience and strong operational performance despite ongoing geopolitical uncertainty throughout the period.

Morgan Stanley reiterated its sell rating on Rio Tinto shares with a price target of $147.50.

This suggests a potential 8% downside in FY27 for the ASX iron ore mining share.

The post Buy, hold, sell: Evolution Mining, 29Metals, Rio Tinto shares appeared first on The Motley Fool Australia.

Among the 11 market sectors, technology is in the lead, streaking 3.4% higher, while energy is dropping 3.2%.

Energy is lower after Pakistan tried to restart talks between the US and Iran.

Both nations ceased military action against each other over the weekend, following two weeks of attacks.

Meanwhile, on The Bull this week, two experts give us their views on three ASX 200 shares.

Let's check them out. 

Rio Tinto Ltd (ASX: RIO)

The Rio Tinto share price is $162.27, up 1.4% today and up 39% over 12 months.

Rio Tinto was among the ASX 200 large caps that generated the most share price growth in FY26, rising 61%.

Michael Gable from Fairmont Equities gives the ASX 200 mining share a buy rating following its 2Q FY26 production report.

Gable said:

Results met or exceeded expectations of most analysts.

A rare buy signal recently appeared on the daily relative strength index (RSI), which is a momentum indicator.

The price pullback that started in June is mostly over and is transitioning to a more favourable risk/reward ratio, in my view.

Woodside Energy Group Ltd (ASX: WDS)

Woodside shares are $31.17, down 3.7% today and up 19% over 12 months.

Gable recently reduced his rating on this ASX 200 energy share from buy to hold, and explained:

I have previously recommended this major oil and gas producer as a buying opportunity.

The shares responded to the recent escalation in the Middle East conflict.

Upwards momentum has seen the shares increase from $27.43 on June 25 to trade at $31.86 on July 23.

The US strategic petroleum reserve was recently at a 43-year low, so, in my view, it will be difficult to keep a lid on crude oil prices.

As the biggest energy stock on the ASX, we expect buying support to continue increasing for WDS.

Treasury Wine Estates Ltd (ASX: TWE)

The Treasury Wine Estates share price is $4.72, down 0.2% today and down 40% over 12 months.

Treasury Wine Estates owns wine brands like Penfolds, Wynns, Wolf Blass, Lindemans, and Squealing Pig. ‍

Philippe Bui from Medallion Financial Group has a sell rating on this ASX 200 wine share. 

Bui said: 

The winemaker is undertaking a major transformation program.

It reported a statutory net loss after tax of $649.4 million in the first half of fiscal year year 2026, driven by non-cash impairments of US assets.

It suspended the interim dividend in what it deemed a temporary measure to preserve capital and reduce leverage.

In our view, the turnaround plan, which includes reducing non-core brands, presents a headwind, as they represent significant volume.

A recovery will take time, so we see better opportunities elsewhere.

The post Buy, hold, sell: Rio Tinto, Treasury Wine Estates, Woodside shares appeared first on The Motley Fool Australia.

Shares in the S&P/ASX 200 Index (ASX: XJO) mining giant closed Friday trading for $159.99. In late morning trade on Monday, shares are changing hands for $162.61 apiece, up 1.6%.

For some context, the ASX 200 is up 1% at this same time.

Today's outperformance is par for the course for Rio Tinto shares this past year. While the ASX 200 has gained a modest 1.8% over 12 months, the shares in the Aussie miner have surged 39%.

And that's not including the two fully-franked dividends, totalling $5.891 a share, that Rio Tinto has paid eligible stockholders over this time.

Rio Tinto stock trades on a fully-franked trailing dividend yield of 3.6%. That works out to a grossed-up yield of 5.2%, taking those franking credits into account.

And looking ahead, Fairmont Equities' Michael Gable believes Rio Tinto is well-placed to keep outperforming (courtesy of The Bull).

Here's why.

Should I buy Rio Tinto shares today?

Citing the first reason you might want to buy the ASX 200 mining stock today, Gable said, "Copper equivalent production was up 3% in the first half of 2026 when compared to the prior corresponding period."

Rio Tinto's increasing copper production should help support shares longer term, with global copper demand widely forecast to continue increasing over the coming years.

Over the past year, strong demand for the red metal from EVs, the global energy transition, and booming AI-fuelled data centre growth have driven the copper price up 42% to US$13,645 per tonne, according to Bloomberg data.

The second reason Gable issued a buy recommendation for Rio Tinto shares was the consensus beating production growth across its other major assets.

"Global iron ore sales in the second quarter were up 5% year-on-year. Pilbara sales were up 7% and lithium production rose 20%. Results met or exceeded expectations of most analysts," he said.

As for the third reason, Gable concluded:

A rare buy signal recently appeared on the daily relative strength index (RSI), which is a momentum indicator. The price pullback that started in June is mostly over and is transitioning to a more favourable risk/reward ratio, in my view.

A word from the ASX 200 mining stock's CEO

Rio Tinto shares closed up 1.1% on 15 July, when the miner released the growth results Gable mentioned above.

Commenting on the company's performance on the day, Rio Tinto CEO Simon Trott said:

We are delivering growth as we drive performance across the group… Our scale, geographical diversification and sophisticated supply chains continue to underpin our resilience and strong operational performance despite ongoing geopolitical uncertainty throughout the period.

The post 3 reasons to buy Rio Tinto shares today appeared first on The Motley Fool Australia.

I would want businesses capable of supporting their payouts through different conditions, while still giving shareholders some opportunity for capital growth.

Here are three ASX shares I think could provide that balance.

National Australia Bank Ltd (ASX: NAB)

NAB would give the portfolio exposure to one of Australia's largest financial institutions and a steady stream of fully franked dividends.

The bank's leading position in business banking is the main reason I would choose it over some of its peers. I believe this side of the banking industry will fare better in the current environment of higher interest rates and a weakening housing market.

At a share price of around $40.39, the income also looks attractive.

According to CommSec consensus estimates, NAB is forecast to pay dividends per share of $1.70 in FY26 and $1.72 in FY27.

That represents forward dividend yields of approximately 4.2% and 4.3%, before any benefit from franking credits.

Telstra Group Ltd (ASX: TLS)

Telstra would add a more defensive source of income.

Mobile and internet services have become deeply connected to how Australians work, communicate, shop, travel, and access entertainment. Households may reduce spending elsewhere when conditions become difficult, but reliable connectivity remains a regular expense.

I particularly like Telstra's position in mobile. Its network coverage, brand, spectrum holdings, and years of investment give the company a strong position in a market where reliability can influence which provider customers choose.

The shares are trading around $4.89.

CommSec forecasts dividends per share of 21 cents in FY26 and 21.5 cents in FY27. That equates to forward dividend yields of around 4.3% and 4.4%.

Rio Tinto Ltd (ASX: RIO)

Rio Tinto would bring more volatility to the portfolio, but it could also provide stronger income when commodity markets are favourable.

The company remains a major iron ore producer, with large, low-cost operations capable of generating substantial cash flow.

It also has growing exposure to copper, which could benefit from investment in electricity networks, renewable energy, data centres, manufacturing, and infrastructure. That gives Rio Tinto more than one route to long-term earnings.

CommSec consensus estimates point to dividends per share of $6.37 in FY26 and $6.62 in FY27.

At around $159.99, those forecasts imply dividend yields of approximately 4.0% and 4.1%.

I think it is worth remembering that mining dividends can move considerably as commodity prices and profits change, so I would expect less consistency than I would from NAB or Telstra.

Foolish takeaway

A passive income portfolio can become vulnerable when every dividend depends on the same economic conditions.

That is why I like combining a major bank, a defensive telecommunications company, and a global miner. Their earnings are influenced by different customers, markets, and demand drivers, which should give the portfolio a broader foundation.

The forecast yields are all around 4%, providing a solid starting income without chasing companies offering payouts that may prove difficult to sustain.

The post Why I'd buy NAB, Telstra, and Rio Tinto shares for a passive income portfolio appeared first on The Motley Fool Australia.

If you are, it could be worth listening to what analysts are recommending this week, courtesy of The Bull.

Here are three ASX shares given buy ratings by experts:

4DMedical Ltd (ASX: 4DX)

This medical technology company has been named as a buy by analysts at Medallion Financial Group.

It is very positive on 4DMedical's outlook thanks to its key CT:VQ platform. It explains:

4DMedical is an Australian respiratory imaging company. Its CT:VQ platform uses existing CT scans to improve evaluating lung function amid diagnosing conditions. Since CT:VQ obtained US Food and Drug Administration (FDA) clearance in 2025, the company has secured deployments with six leading US academic medical centres. 

A bipartisan bill in the US directing the Department of Veterans Affairs to establish a pilot program using 4D functional lung imaging software to identify respiratory disorders and lung disease is an encouraging development. The company is well capitalised and we remain content holders at current levels given several potentially positive catalysts.

Rio Tinto Ltd (ASX: RIO)

Over at Fairmont Equities, its team thinks that Rio Tinto shares could be a buy this week.

The equities firm was pleased with Rio Tinto's performance during the first half and highlights that a recent pullback has created an attractive buying opportunity. It said:

Copper equivalent production was up 3 per cent in the first half of 2026 when compared to the prior corresponding period. Global iron ore sales in the second quarter were up 5 per cent year-on-year. Pilbara sales were up 7 per cent and lithium production rose 20 per cent. Results met or exceeded expectations of most analysts. 

A rare buy signal recently appeared on the daily relative strength index (RSI), which is a momentum indicator. The price pullback that started in June is mostly over and is transitioning to a more favourable risk/reward ratio, in my view.

SGH Ltd (ASX: SGH)

This diversified investment company has been named as a buy by the team at Baker Young this week.

Baker Young likes SGH due to its exposure to structural themes. It also believes there could be capital returns on the horizon for shareholders. It commented:

This diversified company has businesses across industrial services, energy and media. Continuing demand for mining and infrastructure construction underpin a positive outlook for the WesTrac, Coates Hire and Boral businesses. 

SGH also has a 30 per cent interest in Beach Energy. In our view, SGH is a high quality, long term cyclical stock supported by structural themes. Potential exists for capital returns, either via a dividend or buy-back, when it reports full year results in August.

The post Experts say 4DMedical, SGH, and Rio Tinto shares are buys appeared first on The Motley Fool Australia.

By investing your superannuation wisely, you might be able to generate a regular cash flow high enough to live the retirement of your dreams.

The question is: How much do you actually need in your super to be able to get the passive income you want when you transition to your pension phase?

Let's investigate, using an annual $100,000 passive income as an example.

How much do I need in my superannuation to get a passive income of $100,000 every year?

To calculate how much you need in your superannuation, you need to divide your annual passive income by the dividend yield of your overall portfolio.

Obviously, the catch is that the answer varies depending on what your dividend yield is.

It means a portfolio with a dividend yield of around 6% only needs to be half the size of one with a dividend yield of around 3% to generate the same level of passive income. 

Say your overall portfolio has a dividend yield of around 3%, you'll need a balance of around $3.3 million to earn $100,000 per year in passive income.

Of course, $3.3 million is a huge figure, and this level of superannuation isn't achievable for everyone.

But the good news is, as your portfolio's dividend yield increases, the superannuation balance required to earn the same passive income decreases. 

So if the yield of your portfolio is around 4%, for example, your balance would need to be closer to $2.5 million to earn the same dividend income.

For a 5% yielding portfolio, you'd need a balance of closer to $2 million to earn the same amount.

Increase that to a 6%, 7%, or 8% dividend yield, and you're looking at closer to $1.6 million, $1.4 million, or $1.25 million, respectively. 

And so on…

You'd still earn $100,000 per year in passive income from each of these portfolio sizes.

What ASX shares can I buy around these dividend yields?

There are a huge range of ASX dividend shares available for your superannuation investment. Here are some of my favourites.

Lower-yielding ASX dividend-paying shares such as Wesfarmers Ltd (ASX: WES), Northern Star Resources Ltd (ASX: NST), AMP Ltd (ASX: AMP) and Washington H. Soul Pattinson and Co Ltd (ASX: SOL) are solid and reliable stocks that offer a yield of around 2% to 3%.

For a mid-range yielding ASX dividend option, I'd look at Suncorp Group Ltd (ASX: SUN), QBE Insurance Group (ASX: QBE), Rio Tinto Ltd (ASX: RIO) or defensive assets like Telstra Group Ltd (ASX: TLS). These all pay a yield around 3% to 5%. 

For a higher 5% to 6% dividend yield, I'd look at reliable payers like APA Group (ASX: APA) or Origin Energy Ltd (ASX: ORG).

Lendlease Group (ASX: LLC) and Charter Hall Long WALE REIT (ASX: CLW) yield around 7% to 8%.

If you want to take on more risk and go for a much higher-yielding ASX stock, my picks would be something like IPH Ltd (ASX: IPH), Centuria Office REIT (ASX: COF), or the BetaShares Australian Top 20 Equities Yield Maximiser Complex ETF (ASX: YMAX). These typically yield anywhere between 9% and 12%.

The post How much superannuation is needed to target a $100,000 annual passive income? appeared first on The Motley Fool Australia.

And ASX dividend shares are a fantastic way to get you there.

The problem is that it can be difficult to work out exactly which shares to buy and how much to invest to get the passive income you want. 

To help, here's a rundown of how to earn a passive income through ASX dividend shares, using $12,000 per year in passive income as an example.

What portfolio size do I need to get $12,000 per year in passive income from ASX shares?

To calculate the portfolio size you'd need to earn $12,000 per year in passive income, you'd need to divide your annual passive income figure by the dividend yield of your overall portfolio. 

So in this case, for example, $12,000 divided by a dividend yield of 3% is $400,000. This $400,000 figure is the portfolio size you'd need to earn this level of passive income each year.

The tricky part is that the answer varies widely depending on the dividend yield of the ASX shares you'd have in your portfolio. 

For example, a portfolio with a dividend yield of around 6% only needs to be half the size of one with a dividend yield of around 3% to generate the same level of dividend income. 

How much do I need if my portfolio yields 4% to 8%?

We've already calculated (above) the balance you'd need to earn $12,000 off a 3% yielding portfolio.

To earn the same passive income off a 4% yielding portfolio, you'd need around $300,000.

Then, to earn $12,000 from a 5% yielding portfolio, it would need to be closer to $240,000.

If your portfolio has an overall dividend yield of around 6%, you'd need to invest closer to $200,000 to receive your $12,000 per year in passive income.

Your portfolio would only need to be around $171,500 to earn $12,000 if it had an overall yield of 7%.

Portfolios yielding 8% would need to be around $150,000 to earn the same $12,000 per year.

And so on. As your dividend yield increases, the portfolio size needed to earn the same level of passive income goes down.

These figures are based on cash dividends before any tax or franking credit benefits.

Can't I just invest in the highest-yielding stocks so I don't need to put up as much money up front?

Technically, yes, but it would be a bad investment decision.

Generally, the higher yielding the ASX shares, the more risk they carry.

Instead, you'll want to focus on creating a diversified portfolio. For example, you could split your portfolio so that around 70% is invested in mid-range yielding ASX shares, and the remaining 30% is invested in high-yield stocks or riskier shares.

I'd also look to buy ASX shares across multiple sectors to further diversify my portfolio.

It's important to note that your passive income will likely fluctuate with the company's profits and dividend decisions.

Give me some examples of passive-income earning ASX shares that yield around 3% to 6%

There is a huge range of ASX dividend shares available to buy, but here are a few of my favourites, currently yielding between 3% and 6%.

Investment banking business Macquarie Group Ltd (ASX: MQG) pays a dividend yield of around 2.7%.

Meanwhile, mining giant Rio Tinto Ltd (ASX: RIO) pays its shareholders a yield of around 3.6%, and Brambles Ltd (ASX: BXB) yields a little lower at around 3.4%. 

QBE Insurance Group Ltd (ASX: QBE) pays a yield around 4.4%, at the time of writing. ANZ Group Holdings Ltd (ASX: ANZ) yields close to 4.6%.

Woodside Energy Group Ltd (ASX: WDS) pays around a 5.4% dividend yield to shareholders. Meanwhile, packaging giant Amcor Ltd (ASX: AMC) pays closer to 6%.

… and some high-yield options around 7% or more

For higher yields, real estate investment trusts (REITs) are a great option because they still offer diversity across a range of assets or shares. Charter Hall Long WALE REIT (ASX: CLW) yields around 6.8% at the time of writing. 

Elsewhere, Wam Leaders (ASX: WLE) yields just shy of 7%, and Lendlease Group Ltd (ASX: LLC) yields around 7.8%.

The post These ASX shares could generate $12,000 per year in passive income appeared first on The Motley Fool Australia.

The materials sector, dominated by miners, was the best-performing of the 11 ASX 200 market sectors.

ASX 200 materials shares gained 47% in value and delivered a total return, including dividends, of 52% in FY26.

This compares to a more subdued performance across the broader market.

S&P/ASX 200 Index (ASX: XJO) shares rose by just under 3%, and delivered total returns of 7% in FY26.  

The long-term outlook for mining is bright, but experts say it's time to sell these ASX shares after an impressive run in FY26.

Rio Tinto Ltd (ASX: RIO)

Rio Tinto was among the ASX 200 large-cap shares that generated the most share price growth in FY26.

The Rio Tinto share price rose 61% in FY26 amid strong demand and rising prices for lithium and copper.

Last week, Rio Tinto released its 2Q FY26 production report.

The miner said it increased copper production by 3% and lithium production by 20% year over year.

Global iron ore sales were also 5% higher.

Rio Tinto CEO, Simon Trott, commented:

We are delivering growth as we drive performance across the group, with copper equivalent production up 3 per cent in the first half.

Our scale, geographical diversification and sophisticated supply chains continue to underpin our resilience and strong operational performance despite ongoing geopolitical uncertainty throughout the period.

Rahul Anand from Morgan Stanley reiterated his sell rating on Rio Tinto shares after reviewing the report.

He has a 12-month price target of $149, implying about a 6% downside from here.

Evolution Mining Ltd (ASX: EVN)

The Evolution Mining share price increased 51% in FY26.

Evolution benefited from a continued increase in the gold price; however, the 18% lift was subdued compared to FY25.

Last week, the gold miner released its 2Q FY26 report.

Evolution said it produced 180,000 ounces of gold and 19,000 tonnes of copper in the June quarter.

Total FY26 production came in at 715,000 ounces of gold and 66,000 tonnes of copper.

Evolution's all-in sustaining cost (AISC) for gold production in FY26 was AU$1,717 per ounce.

That leaves plenty of profit margin for Evolution, with the gold price currently above US$4,000 per ounce, equivalent to AU$5,725 per ounce.

Evolution reported record operating mine cash flow of $3,394 million and net mine cash flow of $2,079 million.

Managing Director and CEO, Lawrie Conway, said:

FY26 continued to build on the improved consistent performance of the past couple of years, meeting Group production and cost guidance.

We are now fully unhedged and in a net cash position with a cash balance of $1,347M.

All high-return organic growth projects remain on schedule and budget.

Jarden maintained its sell rating on Evolution Mining shares, with a $8.20 target, after reviewing the report.

This suggests a potential 20% downside for FY27.

The post 2 ASX mining shares to sell: experts appeared first on The Motley Fool Australia.

Year to date, Rio Tinto and BHP shares are up 9% and 25% respectively. 

For comparison, the S&P/ASX 200 Index (ASX: XJO) is up just 0.8% in the same period. 

Why are Rio Tinto and BHP shares soaring?

These shares have risen strongly this year because investors have become more optimistic about the mining sector. 

Higher prices for key commodities such as copper and resilient iron ore prices, driven by growing demand from AI infrastructure, data centres, electrification and renewable energy projects, have boosted earnings expectations. 

Both companies have also delivered solid production results and attracted investors looking for large, financially strong businesses with reliable dividends, helping push their share prices higher.

What is Morgan's updated view on BHP shares?

At the end of last week, the team at Morgans provided fresh outlooks on both Rio Tinto and BHP shares. 

Looking at BHP shares, the broker said the mining giant ended FY26 on a good note, with an operational result largely in line with consensus and a touch ahead of our estimates in places. 

Normally a source of volatility, BHP's coal operations posted decent consensus beats at both BMA and NSWEC. FY27 guidance appears steady relative to our existing estimates, although consensus appears high for group copper. Best-in-breed global diversified miner in what remains a healthy upcycle for resources. We maintain our HOLD rating and A$60.20 target price.

Rio Tinto remains posts healthy Q2

Looking at Rio Tinto shares, Morgans said the company posted a healthy Q2 where it matters. 

Pilbara shipments beat consensus (+2%), while Morgans said it sees the headline Simandou miss (-68% vs consensus) as a net positive: a slower Simandou ramp supports iron ore benchmarks, and each US$10/t on the benchmark is worth ~US$2.5bn of annual EBITDA to RIO's far larger Pilbara business. 

The sting in the tail was Kennecott, with a late June converting furnace breach requiring a ~75-day full rebuild, hitting H2 refined copper and gold output (total copper including saleable matte unchanged). Copper C1 guidance halved to US30-50c/lb, on strong by-prod prices, a material margin tailwind into the H2 result. Trading back close to where we see fair value, RIO remains one of the highest quality global exposures to a sector enjoying a multi-year upcycle (albeit not without its volatility). We maintain our HOLD rating, A$163.00 TP (was A$165.00).

From last week's closing price of $160.95, the updated price target is just 1.2% above current levels. 

The post What is Morgan's updated view on Rio Tinto and BHP shares? appeared first on The Motley Fool Australia.

Does it rate them as buys, holds, or sells? Let's find out what the broker is saying about them:

BHP Group Ltd (ASX: BHP)

Morgans was pleased with BHP's performance during the fourth quarter, highlighting that its operational performance was better than it was expecting.

However, due to its valuation and concerns that the market is too optimistic on BHP's copper prospects, Morgans only has a hold rating and $60.20 price target on its shares. It said:

A good end to FY26 for BHP, with an operational result largely in line with consensus and a touch ahead of our estimates in places. Normally a source of volatility, BHP's coal operations posted decent consensus beats at both BMA and NSWEC. FY27 guidance looks steady versus our existing estimates, although consensus does look high on group copper. Best-in-breed global diversified miner in what remains a healthy upcycle for resources. We maintain our HOLD rating and A$60.20 target price.

Commonwealth Bank of Australia (ASX: CBA)

The broker has been looking at banking giant CBA ahead of its results next month. Unfortunately, it continues to think that its valuation is stretched and has retained its sell rating on CBA shares with a trimmed price target of $117.63. It commented:

We make updates to our forecasts ahead of the FY26 result in August. Net result is 1-2% downgrades to FY27-28F EPS. 12 month target price reduces 1% to $117.63. Sell retained, given stretched valuation metrics remain implied in the share price (c.26x PER, 3.7x PBV, 2.9% cash yield).

Rio Tinto Ltd (ASX: RIO)

Finally, Morgans was also pleased with Rio Tinto's performance in the last quarter, noting that Pilbara iron ore shipments were stronger than expected and its copper cost guidance has been trimmed.

However, with Rio Tinto shares rising strongly over the past 12 months, the broker has retained its hold rating with a $163.00 price target. It explains:

RIO posted a healthy Q2 where it matters, with Pilbara shipments beating consensus (+2%), while we see the headline Simandou miss (-68% vs consensus) as a net positive: a slower Simandou ramp supports iron ore benchmarks, and each US$10/t on the benchmark is worth ~US$2.5bn of annual EBITDA to RIO's far larger Pilbara business. The sting in the tail was Kennecott, with a late June converting furnace breach requiring a ~75-day full rebuild, hitting H2 refined copper and gold output (total copper including saleable matte unchanged).

Copper C1 guidance halved to US30-50c/lb, on strong by-prod prices, a material margin tailwind into the H2 result. Trading back close to where we see fair value, RIO remains one of the highest quality global exposures to a sector enjoying a multi-year upcycle (albeit not without its volatility). We maintain our HOLD rating, A$163.00 TP (was A$165.00).

The post Buy, hold, sell: BHP, CBA, and Rio Tinto shares appeared first on The Motley Fool Australia.

To narrow things down, let's find out what Morgans is saying about three ASX shares that have recently released updates.

Here's what you need to know:

Amplitude Energy Ltd (ASX: AEL)

Morgans remains positive on this energy producer's shares following its fourth-quarter update. This was particularly the case with the Orbost operation, which continues to outperform.

In response, the broker has retained its buy rating and $3.05 price target on the company's shares. It said:

A solid Q4 production and sales result, with Orbost's continued outperformance the obvious standout. As we expected, revenue dipped on softer Victorian and South Australian spot prices through the quarter, though by less than we had allowed for. FY26 closed with records across the board. Group production of 27.6PJe (+3%), revenue of A$285.8m (+7%) and a record realised gas price of A$10.35/GJ (+4%), while net debt was slashed 85% yoy to A$37.2m. 

Management's outlook commentary was very positive, with the flagship Orbost plant setting fresh production records post quarter end. AEL is our top energy sector pick following recent share price weakness. We maintain our BUY rating and A$3.05 target price.

Evolution Mining Ltd (ASX: EVN)

The broker notes that this gold miner delivered a result in line with expectations. And while capital expenditure will be higher than forecast in FY 2027, it remains positive on the investment opportunity here.

Morgans has retained its buy rating with a trimmed price target of $14.60. It commented:

4Q26 result and FY26 guidance were largely in line with expectations. FY27 outlook commentary flagged higher capex than previously expected and inflationary impacts to AISC, which affect FY27 cash flow forecasts. Maintain BUY with a A$14.60ps target price (previously A$16.00ps).

Rio Tinto Ltd (ASX: RIO)

Morgans highlights that this mining giant's Pilbara operations outperformed expectations during the second quarter. And while the Simandou operation's performance was weak, the broker doesn't see this as a negative.

However, for valuation reasons, Morgans only has a hold rating and $163.00 price target on Rio Tinto shares.

RIO posted a healthy Q2 where it matters, with Pilbara shipments beating consensus (+2%), while we see the headline Simandou miss (-68% vs consensus) as a net positive: a slower Simandou ramp supports iron ore benchmarks, and each US$10/t on the benchmark is worth ~US$2.5bn of annual EBITDA to RIO's far larger Pilbara business. The sting in the tail was Kennecott, with a late June converting furnace breach requiring a ~75-day full rebuild, hitting H2 refined copper and gold output (total copper including saleable matte unchanged). 

Copper C1 guidance halved to US30-50c/lb, on strong by-prod prices, a material margin tailwind into the H2 result. Trading back close to where we see fair value, RIO remains one of the highest quality global exposures to a sector enjoying a multi-year upcycle (albeit not without its volatility). We maintain our HOLD rating, A$163.00 TP (was A$165.00).

The post Should you buy Rio Tinto and these ASX shares? appeared first on The Motley Fool Australia.