What did South32 report?

• Ore reserve at Sierra Gorda increased by 61% to 1,100 million tonnes at 0.39% total copper, 0.016% molybdenum, and 0.06 g/t gold (as at 31 July 2026).
• Mineral resource estimate rose 8% to 1,870 million tonnes at 0.37% total copper, 0.016% molybdenum, and 0.06 g/t gold.
• Reserve life extended by about five years, now expected until 2045.
• Expansion follows successful infill drilling—around 85,000 metres drilled between 2023 and 2025.
• Fourth grinding line project approved, projected to boost copper production by around 30% from 2031.

What else do investors need to know?

The Sierra Gorda copper mine, in which South32 holds a 45% stake, is a large, open pit operation in northern Chile. This major jump in ore reserves and resources comes after significant drilling to better define the orebody, providing more certainty over future production.

July's approval for a fourth grinding line is expected to increase annual processing capacity from 135,000 to 165,000 tonnes per day by 2031. The mine is already well-equipped with modern processing infrastructure, renewable energy, and seawater supply, helping support these plans.

Exploration is underway at the Catabela Northeast zone, where early drilling results suggest more copper resources could be uncovered—potentially providing further mine life extensions in the future.

What did South32 management say?

South32 Chief Executive Officer, Matt Daley said:

This update highlights the scale, quality and long-life orebody at Sierra Gorda, which we expect will be a significant source of copper for decades to come. It follows the approval in July to proceed with execution of the fourth grinding line project at Sierra Gorda, which is expected to increase copper production by approximately 30 per cent from 2031.

With the current orebody remaining open at depth, the mine offers potential for further growth beyond today's increase to ore reserve and reserve life. We continue to work with our joint venture partner to drive further growth and value at Sierra Gorda. This includes the Catabela Northeast exploration project, where exploration holes have intersected significant copper mineralisation, highlighting the potential for future mine life extension.

What's next for South32?

South32 is focused on ramping up development at Sierra Gorda, progressing the fourth grinding line project and ongoing infill and exploration drilling. With the orebody remaining open at depth and encouraging early drilling outside current reserves, investors can expect continued efforts to grow resources and sustain the mine's future.

The company is also progressing environmental permit approvals to cover operations beyond 2035, aiming for a seamless transition to an extended mine life. Management highlights Sierra Gorda's role as a cornerstone copper asset as global demand for key energy transition minerals rises.

South32 share price snapshot

The South32 share price has smashed the S&P/ASX 200 index (ASX: S32) over the past 12 months with a gain of over 70%.

View Original Announcement

The post South32 share price in focus as Sierra Gorda mine life jumps with 61% reserve boost appeared first on The Motley Fool Australia.

That's because the broker has just released an update on its Core Portfolio.

Here's what Bell Potter holds in its portfolio:

ANZ Group Holdings Ltd (ASX: ANZ)

This big four bank features in the portfolio due to its earnings resilience, income, and valuation. In addition, Bell Potter thinks it is better positioned than its major bank peers. It explains:

We hold ANZ as our preferred exposure to the Australian banking sector, offering a compelling combination of earnings resilience, attractive income and valuation support. We increased our position as we see ANZ as better positioned than its major bank peers, many of which continue to trade on demanding multiples.

Higher interest rates should continue to support margins and profitability, while a strong capital position underpins sustainable dividend payments and shareholder returns. As the domestic economy navigates a higher-for-longer interest rate environment, ANZ provides exposure to improving credit demand, robust cash generation and potential earnings upgrades, while still trading at a discount to the sector ' s highest-rated names.

Brambles Ltd (ASX: BXB)

Another ASX share that could be worth considering is supply chain logistics company Brambles.

Bell Potter likes the company due to its recurring revenues, strong free cash flow generation, and attractive returns on invested capital. It explains:

We hold Brambles for its exposure to a high-quality global logistics franchise with recurring revenues, strong free cash flow generation and attractive returns on invested capital. Through its market-leading CHEP pallet pooling network, Brambles benefits from powerful network effects and long-term structural growth in supply chain outsourcing. Recent operational challenges in the US appear temporary rather than structural, creating an opportunity to buy a quality business at a more attractive valuation.

As pallet repair capacity normalises, earnings growth should reaccelerate, supported by improving economic activity, greater pooling penetration and digitisation initiatives that enhance productivity and margins. We believe the market is underappreciating the resilience of the franchise and the potential for earnings upgrades as operational performance improves.

South32 Ltd (ASX: S32)

A final ASX share that Bell Potter is positive on is mining giant South32. It likes the company's exposure to global electrification and infrastructure investment through its copper and zinc operations.

The broker also highlights that it sees significant value in South32's copper growth pipeline. This includes the Sierra Gorda expansion and Hermosa development. Bell Potter said:

We hold South32 as a simplified base-metals growth story with increasing leverage to copper and zinc, two commodities that sit at the heart of global electrification and infrastructure investment. The sale of the aluminium business to Alcoa transforms South32 into a more focused mining company, reducing earnings volatility, lowering legacy liabilities and improving the overall quality of the asset portfolio. The transaction is expected to leave the company with substantial balance sheet flexibility, supporting capital returns while retaining the capacity to fund future growth.

We see significant value in South32's copper growth pipeline, including the Sierra Gorda expansion and Hermosa development, which provide long-duration exposure to commodities benefiting from the energy transition and the build-out of AI and data-centre infrastructure. As the business becomes increasingly weighted toward higher-growth, higher-multiple base metals, we believe South32 is well positioned to deliver both earnings growth and a valuation re-rating over the medium term.

The post Bell Potter names the best ASX shares to buy in August appeared first on The Motley Fool Australia.

For South32 shares, 2026 has been a stellar year. They're up 43% year to date and a whopping 72% over the past 12 months.

So, after such a monster run, can South32 shares keep climbing?

Why is the mining stock surging?

South32 shares have received a major boost from the miner's latest operational update and a transformational reshaping of its portfolio.

In July, South32 reported FY26 production results that beat several guidance targets, including stronger output across key operations.

But the real headline for South32 was the proposed sale of its aluminium value chain business, excluding Mozal Aluminium, to Alcoa Corporation (ASX: AAI) for up to US$5.6 billion.

The deal also transfers around US$1.2 billion of rehabilitation provisions and is expected to transform South32 into a more focused base and precious metals producer.

For South32, that's a significant strategic shift.

Copper and manganese boost

Operationally, South32 shares also benefited from some encouraging production numbers.

Copper production at Sierra Gorda beat FY26 guidance by 2%, while the operation generated record annual distributions of US$401 million. Manganese production also came in ahead of expectations, finishing 1% above guidance in Australia and 4% ahead in South Africa.

With the aluminium transaction pending, South32 expects around 85% of pro-forma earnings to come from base and precious metals.

That's an important development for South32 shares, given the company is targeting 55% production growth from approved projects, including expanded copper capacity at Sierra Gorda and further development of the Hermosa project.

Investors clearly liked what they saw, sending South32 shares sharply higher.

Are the shares still a buy?

After the huge rally, the big question is whether South32 shares still have enough upside to justify buying today.

Analyst sentiment remains broadly positive. TradingView data shows eight of 14 analysts have a buy or strong buy rating, while another five rate South32 shares as a hold.

However, there's an interesting catch. The average analyst price target of $4.84 is now below the current share price, implying potential downside of around 5%.

That doesn't mean South32 shares can't go higher. The most bullish analyst target sits at $5.94, suggesting another 17% upside over the next 12 months.

Morgans has reaffirmed its accumulate rating and $4.70 price target, while Morgan Stanley maintains a buy rating with a $4.75 target.

What's next for the miner?

The outlook for South32 shares increasingly depends on whether the company can execute its transformation into a more focused base and precious metals producer.

The Alcoa transaction, copper growth, and Hermosa development could provide significant long-term opportunities.

But after a 43% gain in 2026, investors may need to balance that attractive growth story against a share price that has already priced in plenty of optimism.

The post South32 shares hit 10-year high: What's next? appeared first on The Motley Fool Australia.

ASX 200 shares are already up 5.6% in the new financial year.

This is significant given the lacklustre growth rate of 2.8% over FY26 (total return, including, dividends was 7%).

Among the 11 market sectors today, materials is in the lead, up 1.4%, while utilities is the laggard, down 0.7%.

Meanwhile, brokers have indicated continuing confidence in several ASX 200 shares this week.

Let's check out some renewed buy ratings.

Life360 Inc (ASX: 360)

The Life360 share price is $29.18, down 1.2% today and down 26% over 12 months. 

Bell Potter renewed its buy rating on the ASX 200 tech share on Tuesday.

The broker has a 12-month price target of $35.

This suggests a potential 20% upside ahead.

BHP Group Ltd (ASX: BHP)

The BHP share price is $62.92, up 0.6% today and up 58% over 12 months.

Morgan Stanley reaffirmed its buy rating on the market's largest ASX 200 mining share today.

The broker has a 12-month target of $67, which suggests a potential 6% upside ahead.

Capricorn Metals Ltd (ASX: CMM)

The Capricorn Metals share price is $14.70, up 3.6% today and up 50% over 12 months. 

Bell Potter reiterated its buy rating on Monday after reviewing the miner's June quarter report.

The broker increased its 12-month target on the ASX 200 gold share from $16.70 to $17.80.

This suggests a potential 21% upside ahead.

Analyst David Coates said:

CMM is run by a management team that has an excellent track record of delivery.

CMM is a sector leading gold producer, unhedged and debt free. It is fully funded to grow production from ~120kozpa to +400kozpa from two gold mines in WA.

National Australia Bank Ltd (ASX: NAB)

The NAB share price is $42.78, up 0.6% today and up 10% over 12 months. 

UBS reaffirmed its buy rating on the ASX 200 bank share with a 12-month price target of $50 this week.

This suggests a potential 17% upside ahead.

Droneshield Ltd (ASX: DRO)

The Droneshield share price is $2.30, up 5% today and down 44% over 12 months. 

Canaccord Genuity renewed its buy rating on Droneshield shares with a $2.80 target this week.

This suggests a potential 22% upside ahead.

South32 Ltd (ASX: S32)

The South32 share price is $4.83, down 1% today and up 63% over 12 months. 

Morgan Stanley renewed its buy rating on South32 shares this week.

The broker raised its 12-month price target from $4.75 to $4.80.

This suggests the ASX 200 mining share is already fully valued.

Qantas Airways Ltd (ASX: QAN)

The Qantas share price is $10.66, up 0.5% today and down 4% over 12 months. 

Jefferies renewed its buy call on the ASX 200 airline share on Tuesday.

The broker has an $11.91 target, suggesting a 12% upside from here.

Breville Group Ltd (ASX: BRG)

The Breville share price is $35.02, up 2.3% today and up 6% over 12 months. 

Citi reiterated its buy rating on the ASX 200 consumer discretionary share this week.

The broker has a price target of $39.85, implying a potential 14% upside ahead.

The post 8 ASX 200 shares with renewed buy ratings this week appeared first on The Motley Fool Australia.

At the time of writing, the shares are up around 1% to a fresh four-year high, and are changing hands for $4.94 a piece.

The latest increase means the shares have jumped around 26% in the past three weeks alone, and they're up nearly 8% for the month of August so far.

It's been a great year for the ASX mining stock. Its shares have leapt 39% higher for the year to date and are 66% higher than 12 months ago. 

There have been several peaks and troughs, with the share price fluctuating anywhere between $3.55 in early January to today's four-year high of $4.94. But overall, South32 shares have been among the strongest performers on the ASX so far in 2026.

Why are South32 shares climbing higher again now?

Later last month, South32 revealed its FY26 operating results. The miner announced that it had exceeded several production guidance targets with higher output across several of its key operations.

South32 also announced the sale of its aluminium value chain (excluding Mozal) to Alcoa Corporation Ltd (ASX: AAI) for up to US$5.6 billion, plus around US$1.2 billion in rehabilitation provisions. The landmark deal is expected to be finalised in the second half of FY27, pending shareholder approval. 

The miner said the move accelerates South32's strategic shift towards becoming a leading producer of base and precious metals.

With the pending sale of its aluminium value chain, South32 expects about 85% of pro-forma earnings to come from base and precious metals. The business is targeting 55% production growth from approved projects, with expanded copper capacity at Sierra Gorda and further construction at the Hermosa project.

The results and sale announcements were well received by the market and investors rushed to buy South32 shares ahead of the deal.

Are the mining shares a buy, sell, or hold now?

It looks like the experts are pretty optimistic about the outlook for South32 shares over the next year.

Market Index shows the majority of brokers have a buy rating on the mining stock. But the $4.94 average target price is flat on the current trading price.

Sentiment is also mostly positive on TradingView. The data shows that the majority of analysts (eight out of 14) have a buy/strong buy rating on the shares. Another five rate South32 shares as a hold.

But after the latest rally, the average $4.84 target price now implies a potential downside of around 1.5%, at the time of writing. However, the more bullish of the bunch expect the shares to jump another 21% to $5.95 over the next 12 months.

The team at Morgans reaffirmed their accumulate rating and $4.70 target price following South32's announcement. 

Morgan Stanley has a buy rating on the shares and a $4.75 target price.

The post South32 shares leap 26% to fresh 4-year high: Here's what brokers expect next appeared first on The Motley Fool Australia.

When one analyst thinks a business is a buy, that's intriguing. When a number of experts all think a business is a buy, I think that could highlight a significant opportunity.

Let's look at two ASX shares that are heavily backed by experts.

Bannerman Energy Ltd (ASX: BMN)

Bannerman Energy describes itself as a uranium development business. It says its flagship asset is the advanced Etango project located in the Erongo region of Namibia.

According to CMC Invest, there have been five buy ratings on the business within the last three months, with all of those ratings being a buy. The average price target on the business from those five analysts is $5.51, suggesting a possible rise of 62% in the next year.

The company recently announced its quarterly update for the three months to 30 June 2026. In that update it reported strong progress in both the early works of the Etango project and towards completion of the transformational strategic financing transaction with CNNC Overseas Limited (CNOL).

It said that Etango early works construction activities are tracking to the overall budget and schedule. The contractor workforce on site now exceeds 560 personnel. Bulk earthworks have advanced in line with the schedule – it's now 92% complete. The ASX share said production of heap leach drainage aggregate continues to deliver material.

The company also said that detailed design and procurement activities are on schedule, while long-term infrastructure and utilities supply activities are "progressing strongly".

In terms of the financing transaction with CNOL, it said it's progressively satisfying key conditions precedent for the CNOL strategic investment of up to US$321.5 million, and progressing the joint venture agreement.

The residual conditions precedent and the transaction completion are expected to occur in the third quarter of 2026, with a positive final investment decision (FID) on Etango expected shortly after that.

Finally, the ASX share noted that the long-term uranium price outlook remains strong, with the term price increasing to US$97 per pound.

South32 Ltd (ASX: S32)

South32 is another ASX share with significant analyst backing. The ASX mining share is involved in a number of commodities including copper, zinc, lead, silver, manganese, alumina and aluminium.

According to CMC Invest, there have been 10 ratings on the business in the last three months, with nine of those ratings being a buy.

South32 recently announced its FY26 fourth quarter update, which showed that production exceeded guidance in FY26. It increased its quarterly sales volume by 15%, capturing benefit of strong market conditions across many of its commodities.

Last month, it announced the sale of its aluminium value chain to Alcoa Corporation CDI (ASX: AAI) for an implied enterprise value of US$5.6 billion, plus around US$1.2 billion of related rehabilitation provisions.

The company also noted that during FY26, it invested US$34 million in its greenfield exploration opportunities, which progressed multiple programs targeting base metals in highly prospective regions. It also invested US$60 million in exploration programs at existing operations and development options. This could help drive future value for the business.

These aren't the only ASX shares that could be compelling opportunities, of course.

The post 2 ASX shares highly recommended to buy: Experts appeared first on The Motley Fool Australia.

Here's why they leapt higher this week, even as the broader market retreated.

Paladin Energy Ltd (ASX: PDN)

The first top-performing ASX 200 stock on my list is Paladin Energy.

Paladin Energy shares closed last Friday at $8.42 and are currently trading at $9.78 apiece. That sees the uranium miner's share price up 16.2% over the week.

Paladin shares enjoyed a big lift on Wednesday (and an even bigger boost on Thursday, following the release of the miner's June quarter update.

Over the June quarter, Paladin produced 1.23 million pounds of uranium, receiving an average realised price of US$70.6 per pound.

And following the successful ramp-up of the company's Langer Heinrich Mine, located in Namibia, Paladin forecast full-year uranium production of 5.1 million to 5.6 million pounds (U3O8).

South32 Ltd (ASX: S32)

Also shooting the lights out this week is South32.

South32 shares closed out last week trading for $3.90. At the time of writing, shares are changing hands for $4.53. That sees this ASX 200 stock up 16.2% over the week, in an even tie with Paladin.

The ASX mining stock kicked off the week on a strong note, following the release of its FY 2026 operating results.

Investors responded positively, with South32 reporting it exceeded its FY 2026 copper production guidance by 2%, and topped its manganese production guidance by 1% in Australia and 4% in its South African operations.

FY 2026 also saw South32 invest US$710 million to advance its Hermosa zinc-lead-silver project in the United States.

Which brings us to…

Generation Development Group Ltd (ASX: GDG)

The top-performing ASX 200 stock this week is Generation Development.

Shares in the diversified financial services business closed last Friday at $3.56 and are currently trading for $4.39 each. This sees the Generation Development share price up 23.3% despite the broader market retrace.

All (and then some) of those gains were delivered yesterday. Generation Development shares closed up a whopping 37.1% on Thursday following the release of the company's June quarter update.

Stoking investor interest, the company reported a 36% year-on-year increase in group funds under management (FUM) to $46.4 billion.

"With the integration of Evidentia and Lonsec managed accounts, we've created a stronger, more resilient platform for future growth", Generation Life CEO Grant Hackett said.

The post 3 ASX 200 stocks racing higher in this week's sinking market appeared first on The Motley Fool Australia.

Top broker Morgans has issued new research notes on three ASX All Ords shares.

Let's take a look at what the broker has to say and its new 12-month price targets.

NRW Holdings Ltd (ASX: NWH)

The NWH share price is $7.06, down 0.6% today and up 119% over 12 months.

Morgans describes this ASX All Ords industrial share as a "key pick" ahead of the August reporting season.

The broker said:

We expect strong FY26 earnings with our forecast ($284m) slightly ahead of VA consensus ($281m) and towards the upper end of guidance ($275-285m).

For FY27, we expect NWH to guide ahead of consensus (MorgansF $315m vs consensus $308m).

Importantly, the capex cycle in resources shows signs of accelerating with two major projects across gallium (Alcoa) and lithium (Covalent) approved in the last week alone, following last month's announcement that PLS is committing pre-FID capex in anticipation of P2000.

We leave our FY26 forecasts unchanged but increase FY27-28 EBITA by +4%.

Morgans retained its buy rating on NRW shares and lifted its 12-month target price from $6.60 to $8.

This suggests a potential 13% upside from here.

Generation Development Group Ltd (ASX: GDG)

The Generation Development Group share price is $4.44, down 3.1% today and down 19% over 12 months.

The diversified financial services business released its 4Q FY26 update this week.

The company reported a 36% increase in group funds under management (FUM) to $46.4 billion over FY26.

Investors loved the numbers, with the ASX All Ords financial share soaring 36% on the news.

Morgans said:

We saw this as a strong result highlighted by record Investment Bond sales, and importantly, Evidentia beating expectations after a run of consecutive misses.

We lift our GDG EPS by +1%-5% over the forecast period, on higher sales and FUM expectations in both key divisions.

Morgans retained its buy rating and raised its target from $6.28 to $6.89.

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

South32 Ltd (ASX: S32)

The South32 share price is $4.60, down 1.4% today and up 47% over 12 months.

In its 4Q FY26 update this week, South32 said it had exceeded FY26 production guidance and increased quarterly sales volumes by 15%.

Morgans said: 

A strong finish to FY26, with Sierra Gorda, Cannington, both manganese units and the Brazilian operations all beating full-year production guidance.

Cannington was the big swing factor, jumping 29% qoq on restored mining rates and higher grades.

Group sales rose 15% qoq as rail access returned at Cannington and manganese/Mozal stockpiles were sold down, with a ~US$200m 2H26 working capital release flagged (vs a US$130m 1H build), a strong set-up for the August result alongside lower capex sunk.

Morgans maintained its accumulate rating on the ASX All Ords mining share. 

The broker has a 12-month target of $4.60, which suggests limited upside from here.

The post Morgans recommends 3 ASX shares to buy appeared first on The Motley Fool Australia.

Here are some new ratings and 12-month price targets from the experts on three ASX All Ords shares.

Elsight Ltd (ASX: ELS)

The Elsight share price is $6.10, down 3.3% today and up 199% over 12 months.

Elsight is a technology company whose flagship product, Halo, provides Beyond the Visual Line of Sight (BVLOS) connectivity for drones, UAVs, and other unmanned air and land systems.

Halo was launched in 2020, and today, more than 100 drone and UAV manufacturers and operators are using it.

This week, Elsight issued its quarterly activities report.

The company reported customer receipts of US$5.4 million and a net operating cash outflow of US$175,000 for the quarter.

Cash and cash equivalents were US$63.3 million on 30 June, with 361 quarters of funding available at current cash burn rates.

In a new note, Bell Potter kept its buy recommendation on the ASX All Ords tech share. 

The broker lifted its 12-month share price target from $8.10 to $8.20.

This implies a potential upside of more than 30% from here.

The broker said: 

We believe ELS has developed a market leading product that is leveraged to the proliferation of unmanned systems in both a defence and commercial context.

We believe ELS shares offer relative value versus listed peers at 39x CY26e EV/EBIT given its recurring revenue, high ROIC business model and defensible niche.

We expect the key driver for ELS shares will be revenue upgrades from OEM production capacity expansion.

Key catalysts include: another repeat order from "OEM1", which is currently behind our expected timeline; potential upgraded pipeline disclosure on or before August 3, 2026; and a ramp-up in non-OEM1 volumes.

Beach Energy Ltd (ASX: BPT)

The Beach Energy share price is 90 cents, up 1.9% today and down 35% over 12 months.

This week, Beach Energy reported quarterly production of 4.9MMboe, sales of 4.7MMboe, and revenue of $400 million for 4Q FY26.

Bell Potter noted FY26 production was at the low end of the company's 19.4MMBoe to 20.3MMboe guidance.

As a result, Bell Potter retained its hold rating on this ASX All Ords energy share. 

In a new note, the broker slashed its price target from $1.15 to 95 cents.

This implies a potential upside of just 5% from here.

The broker said: 

BPT is in a production replacement cycle with respect to exploration and appraisal.

Production growth should return in FY27 and capex ease, enabling positive free cash flow to support balance sheet deleveraging and ongoing dividends.

We are positive on BPT's exposure to Australian east coast gas markets (around half of sales volumes) and cautious with respect to global oil markets.

South32 Ltd (ASX: S32)

The South32 share price is $4.60, down 1.4% today and up 47% over 12 months.

On Monday, South32 released its 4Q FY26 update.

The miner informed investors it had exceeded production guidance for FY26 and increased quarterly sales volumes by 15%.

In a new note, Morgans maintained its accumulate rating and $4.70 target on this ASX All Ords mining share. 

This implies a potential upside of 2% from here.

Morgans said: 

A strong finish to FY26, with Sierra Gorda, Cannington, both manganese units and the Brazilian operations all beating full-year production guidance.

Cannington was the big swing factor, jumping 29% qoq on restored mining rates and higher grades.

Group sales rose 15% qoq as rail access returned at Cannington and manganese/Mozal stockpiles were sold down, with a ~US$200m 2H26 working capital release flagged (vs a US$130m 1H build), a strong set-up for the August result alongside lower capex sunk.

Partially offsetting, Sierra Gorda and manganese unit costs are running ~5-10% above guidance, and Australia Manganese FY27 guidance is under review.

The post Buy, hold, sell: Beach Energy, Elsight, South32 shares appeared first on The Motley Fool Australia.

After opening sharply lower and spending most of the session in red territory, the ASX 200 ended up staging a late afternoon recovery, closing with a minuscule 0.023% rise. That leaves the index at 8,793.3 points.

This bumpy day for ASX investors followed a rough start to the American trading week on Wall Street's boards last night.

The Dow Jones Industrial Average Index (DJX: .DJI) started the week on a sour note, falling 0.59%.

The tech-heavy Nasdaq Composite Index (NASDAQ: .IXIC) fared slightly better, though, dropping by 0.048%.

But let's return to the local markets now and take stock of what the various ASX sectors were up to this Tuesday.

Winners and losers

Despite the broader market's nominal lift, green sectors outnumbered red sectors this session.

Leading those red sectors were healthcare stocks. The S&P/ASX 200 Healthcare Index (ASX: XHJ) crashed 1.05% lower today.

Communications shares were on the nose as well, with the S&P/ASX 200 Communication Services Index (ASX: XTJ) tumbling 0.88%.

Consumer discretionary stocks weren't popular either. The S&P/ASX 200 Consumer Discretionary Index (ASX: XDJ) saw its value tank 0.83%.

We could say the same for financial shares, as you can verify by the S&P/ASX 200 Financials Index (ASX: XFJ)'s 0.71% dive.

Next up were industrial stocks. The S&P/ASX 200 Industrials Index (ASX: XNJ) had dipped 0.34% by the closing bell.

Our last losers were consumer staples shares, with the S&P/ASX 200 Consumer Staples Index (ASX: XSJ) slipping 0.08%.

Turning to the green sectors now, these were led by gold stocks. The All Ordinaries Gold Index (ASX: XGD) soared 3.64% higher this Tuesday.

Tech shares ran hot as well, evident from the S&P/ASX 200 Information Technology Index (ASX: XIJ)'s 3.26% surge.

Mining stocks were also in demand. The S&P/ASX 200 Materials Index (ASX: XMJ) jumped 1.33% today.

Real estate investment trusts (REITs) were next, with the S&P/ASX 200 A-REIT Index (ASX: XPJ) leaping 0.61%.

Then we had energy shares. The S&P/ASX 200 Energy Index (ASX: XEJ) saw a 0.4% increase this session.

Finally, utilities stocks got over the winner's line, illustrated by the S&P/ASX 200 Utilities Index (ASX: XUJ)'s 0.22% lift.

Top 10 ASX 200 shares countdown

Gold miner Minerals 260 Ltd (ASX: MI6) took out today's top spot. Minerals 260 shares spiked 7.69% higher this Tuesday to close at 64 cents apiece.

There wasn't any news out from the company, but most gold shares had a strong session.

Here's how the other winners landed their planes: 

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

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

Most ASX investors gravitate towards BHP Group Ltd (ASX: BHP), Rio Tinto Ltd (ASX: RIO), or Fortescue Ltd (ASX: FMG) if they are searching for a high-yielding investment in the mining space. But South32 isn't far behind them. In fact, many long-term BHP shareholders also own a slice of South32, thanks to the two companies' demerger about 10 years ago.

So today, let's dive into South32 shares and analyse this dividend stock's income potential.

The South32 share price is having a wonderful day so far this Tuesday. At the time of writing, the miner has jumped a healthy 4.78% and is sitting at $4.28 a share. This is probably thanks to the operational results we saw from the company yesterday.

South32 shares: What sort of dividend yield is on the table?

At this share price, South32 is trading on a trailing dividend yield of 2.21%. That is derived from the last two dividends South32 shares have doled out. The first of those was the final dividend from September 2025, worth 3.93 cents per share. The second was the interim dividend from this April, worth 5.52 cents per share. Both payments came with full franking credits attached, as is South32's habit.

That 12-month total of 9.45 cents per share gives us that trailing yield of 2.21%.

As an ASX mining stock, South32's dividends will always be more volatile than your average ASX blue chip. To illustrate, it was only back in 2022 when the miner paid out an annual total of 37 cents per share in dividends.

So income investors should keep this at the front of mind when considering any mining stock, including South32, for their dividend portfolios.

As it happens, many ASX experts aren't exactly bullish on this company's immediate future either. Earlier this month, my Fool colleague examined why brokers at Morgans had classed South32 shares as a hold, with a trimmed 12-month share price target of $4.50. Although that is comfortably above the miner's current valuation, Morgans does warn that the recent sale of the company's aluminium business leaves South32 as "a simpler and, in important respects, a better business, but also a smaller and less valuable one".

That arguably implies that South32's rather unimpressive 2.21% dividend yield won't be subject to much in the way of upward pressure in the foreseeable future. But let's see what happens.

The post Buying South32 shares? Here's the dividend yield you'll get right now appeared first on The Motley Fool Australia.

This rather indecisive session for the Australian markets came after an even nastier end to the American trading week on Friday night (our time).

The Dow Jones Industrial Average Index (DJX: .DJI) had another tough session, dropping 0.77%.

The tech-heavy Nasdaq Composite Index (NASDAQ: .IXIC) fared even worse, falling a horrid 1.4%.

But let's get back to this week and our local markets, and take a closer look at what was happening across the different ASX sectors today.

Winners and losers

Tech shares were the sector that was singled out for punishment this Monday. The S&P/ASX 200 Information Technology Index (ASX: XIJ) was slammed, tumbling 1.54%.

Utilities stocks fared better, but the S&P/ASX 200 Utilities Index (ASX: XUJ) still tanked by 0.63%.

Healthcare shares were in a similar boat. The S&P/ASX 200 Healthcare Index (ASX: XHJ) saw its value dive 0.49% today.

Mining stocks weren't popular either, evident by the S&P/ASX 200 Materials Index (ASX: XMJ)'s 0.34% dip.

Gold stocks were also no safe haven. The All Ordinaries Gold Index (ASX: XGD) ended up sinking 0.23%.

Real estate investment trusts (REITs) followed right behind gold, with the S&P/ASX 200 A-REIT Index (ASX: XPJ) dipping 0.17%.

Our last losers this Monday were financial stocks. The S&P/ASX 200 Financials Index (ASX: XFJ) slipped 0.07% by the closing bell.

Let's turn to the winning sectors now. Leading the charge were energy stocks, illustrated by the S&P/ASX 200 Energy Index (ASX: XEJ)'s 1.8% surge.

Consumer staples stocks also ran hot. The S&P/ASX 200 Consumer Staples Index (ASX: XSJ) roared 0.43% higher this session.

Communications shares saw high demand too, with the S&P/ASX 200 Communication Services Index (ASX: XTJ) lifting 0.39%.

Industrial stocks came next. The S&P/ASX 200 Industrials Index (ASX: XNJ) advanced 0.16% today.

Finally, consumer discretionary shares got themselves over the line, as you can see by the S&P/ASX 200 Consumer Discretionary Index (ASX: XDJ)'s 0.11% bump.

Top 10 ASX 200 shares countdown

Today's winner was healthcare share 4DMedical Ltd (ASX: 4DX). 4DMedical shares soared 7.19% higher this session to close at $3.43 each. This may have been a reaction to last week's announcement.

Here's the rest of today's best: 

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

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

The mining giant has been a standout performer over the past year, with its shares gaining 31%, comfortably outperforming the S&P/ASX 200 Index (ASX: XJO), which has risen just 1% over the same period.

So, what impressed investors?

South32 unveils strong operating update

South32 released its June quarter production report alongside details of a transformational portfolio reshaping.

The headline announcement for South32 shares was the sale of its aluminium value chain business, excluding Mozal Aluminium, to Alcoa Corporation (ASX: AAI) in a deal worth up to US$5.6 billion. The transaction also transfers around US$1.2 billion of rehabilitation provisions and is expected to reshape South32 into a more focused base metals producer.

Operationally, the company also delivered several positive surprises. Copper production at Sierra Gorda exceeded FY26 guidance by 2% and generated record annual distributions of US$401 million. Manganese production also beat expectations, finishing 1% above guidance in Australia and 4% ahead in South Africa.

Group sales volumes rose 15% during the June quarter, unlocking around US$200 million of working capital and supporting stronger cash generation.

South32 also returned US$327 million to shareholders during FY26 through dividends and on-market share buybacks, while continuing to invest in future growth, spending approximately US$710 million to develop its Hermosa zinc-lead-silver project in Arizona.

What management said

The update also marked the company's first production report under new CEO Matt Daley, who officially succeeded Graham Kerr on 1 July. Daley said:

We continued to deliver strong operating results, exceeding Group production guidance for FY26. We increased quarterly sales volumes by 15%, capturing the benefit of strong market conditions across many of our commodities, and releasing working capital which added to the Group's cash generation. On 1 July, we announced a step change for South32, with the sale of our aluminium value chain business to Alcoa. Once complete, this sale will unlock significant value for shareholders and reposition South32 as a leading upstream base metals focused company. Our portfolio will be built around high-margin, long-life assets in favourable jurisdictions, with approximately 85% of pro-forma earnings from base and precious metals and approximately 55% production growth from approved projects.

What else should investors know?

Management highlighted continued strong production from Cannington, Sierra Gorda, and its manganese operations. Development at Hermosa remains on schedule, with key US permitting milestones achieved.

Despite higher freight and raw material costs linked to geopolitical disruptions, South32 said it maintained disciplined cost control across the business.

Looking ahead, the company plans to optimise its existing operations, progress open-pit development at Cannington, and manage water impacts at its Australian manganese business. Updated FY27 production guidance for Australia Manganese is expected with its upcoming full-year results on 27 August.

Daley added:

Looking ahead, our focus on operational excellence, a strong balance sheet and transformational growth in base metals leaves us well positioned to deliver value for shareholders.

The post Why South32 shares edge higher on strong results and landmark deal appeared first on The Motley Fool Australia.

What did South32 report?

• Announced sale of aluminium value chain (excluding Mozal) to Alcoa for up to US$5.6 billion, plus around US$1.2 billion in rehabilitation provisions
• Sierra Gorda (copper) exceeded FY26 production guidance by 2% and delivered record annual distributions of US$401 million
• Manganese production across Australia and South Africa both surpassed FY26 guidance by 1% and 4% respectively
• Group sales volumes increased by 15% in Q4 FY26, unlocking circa US$200 million in working capital
• Returned US$327 million to shareholders during FY26 through dividends and on-market buy-backs
• Major progress at Hermosa, investing about US$710 million in the zinc-lead-silver project

What else do investors need to know?

South32 completed a CEO transition, with Matt Daley taking the reins from Graham Kerr as of 1 July 2026. The recently announced sale to Alcoa, which excludes Mozal Aluminium, is expected to be finalised in the second half of FY27 pending shareholder approval. This transformational move accelerates South32's strategic shift towards becoming a leading producer of base and precious metals.

The company highlighted robust production from Cannington, Sierra Gorda, and its manganese operations. Meanwhile, Hermosa's development continues on schedule with crucial US permitting milestones achieved. South32 also reported effective cost control despite higher raw material and freight costs due to geopolitical impacts.

What's next for South32?

With the pending sale of its aluminium value chain, South32 expects about 85% of pro-forma earnings to come from base and precious metals. The business is targeting 55% production growth from approved projects, with expanded copper capacity at Sierra Gorda and further construction at the Hermosa project.

South32 plans to continue optimising its core assets and progress open-pit development at Cannington, while closely managing water impacts at its Australian manganese operations. Revised guidance for Australia Manganese FY27 output will be provided with upcoming results.

South32 share price snapshot

Over the past 12 months, South32 shares have risen 29%, outperforming the S&P/ASX 200 Index (ASX: XJO), which has risen 1% over the same period.

View Original Announcement

The post South32 reveals FY26 operating results appeared first on The Motley Fool Australia.

What did Alcoa report?

• Revenue rose 24% quarter-on-quarter to a record US$4.0 billion
• Net income attributable to Alcoa was US$407 million (US$1.53 per share)
• Adjusted net income grew 51% to US$562 million (US$2.12 per share)
• Adjusted EBITDA (excluding special items) increased to US$901 million
• Free cash flow reached US$422 million, finishing the quarter with US$1.4 billion in cash
• Set new year-to-date production records at four aluminium smelters and one alumina refinery

What else do investors need to know?

Alcoa announced a definitive agreement to acquire South32 Ltd's (ASX: S32) interests in bauxite, alumina, and aluminium assets across Australia, Brazil, and South Africa for upfront consideration of approximately US$4.1 billion. This move is expected to bolster Alcoa's position as a leading pure-play upstream aluminium company and deliver long-term value through operational synergies.

The company also celebrated the successful restart of its smelters in Spain, Brazil, Norway, and Australia, contributing to higher aluminium production and shipments this quarter. Alcoa completed collective bargaining agreements with unions in Australia, the United States, and Canada, ensuring stability for its workforce.

What did Alcoa management say?

President and CEO William F. Oplinger said:

During the second quarter, in addition to delivering strong financial results that captured favourable aluminium prices, our team executed on strategic initiatives, most notably the announced agreement with South32. We continue to demonstrate operational excellence and positive momentum in our disciplined approach to maximise value creation.

What's next for Alcoa?

Looking ahead, Alcoa has lowered its 2026 alumina production and shipment guidance due to disruptions at the Pinjarra refinery following Cyclone Narelle. Nevertheless, aluminium production and shipment targets remain unchanged, and the company expects to benefit from cost efficiencies, gradual recovery in energy markets, and the integration of the newly acquired AliGroup assets.

Management anticipates a steady operational outlook for the third quarter, with forecast improvements from restored stability and lower energy prices offsetting planned maintenance activities. Alcoa remains focused on executing its growth strategy and leveraging its upgraded global portfolio for long-term shareholder returns.

Alcoa share price snapshot

Over the past 12 months, Acola shares have risen 49%, outperforming the S&P/ASX 200 Index (ASX: XJO), which has risen 2% over the same period.

View Original Announcement

The post Alcoa smashes Q2 revenue record, boosts portfolio with South32 acquisition appeared first on The Motley Fool Australia.

After some initial wobbles, the ASX 200 spent most of the day in green territory and ended up closing a happy 0.5% higher. That leaves the index at a flat 8,806 points as we head into the weekend.

This optimistic Friday session for Australian investors follows a similarly bullish night on Wall Street.

The Dow Jones Industrial Average Index (DJX: .DJI) was cautiously optimistic, rising by 0.27%.

The tech-heavy Nasdaq Composite Index (NASDAQ: .IXIC) was much more decisive, though, gaining a healthy 1.3%.

But let's return to the local markets now for a discussion of how the different ASX sectors handled today's warm trading conditions.

Winners and losers

Despite the market's sunny disposition today, there were still more than a few sectors that lost ground. 

Chief amongst those were healthcare stocks. The S&P/ASX 200 Healthcare Index (ASX: XHJ) was hit hard today, slumping 1.96%.

Consumer discretionary shares were on the nose as well, with the S&P/ASX 200 Consumer Discretionary Index (ASX: XDJ) sinking 1.13%.

We could say something similar for communications stocks. The S&P/ASX 200 Communication Services Index (ASX: XTJ) drifted 0.83% lower this session.

Tech shares weren't in the good books either, evidenced by the S&P/ASX 200 Information Technology Index (ASX: XIJ)'s 0.6% tumble.

Consumer staples stocks were in a similar ballpark. The S&P/ASX 200 Consumer Staples Index (ASX: XSJ) shrank by 0.5% this Friday.

We could say the same for industrial stocks, with the S&P/ASX 200 Industrials Index (ASX: XNJ) dipping 0.39%.

Utilities shares got no reprieve. The S&P/ASX 200 Utilities Index (ASX: XUJ) slid down 0.33% this session.

Our final losers were energy shares, illustrated by the S&P/ASX 200 Energy Index (ASX: XEJ)'s 0.21% slip.

Turning to the winners now, the hottest corner of the market was gold stocks. The All Ordinaries Gold Index (ASX: XGD) ended up soaring 2.65% higher.

Broader mining shares were also in demand, with the S&P/ASX 200 Materials Index (ASX: XMJ) surging 2.32%.

Real estate investment trusts (REITs) were a little tamer. The S&P/ASX 200 A-REIT Index (ASX: XPJ) still managed a 0.59% addition, though.

Finally, financial stocks got home safe, as you can see from the S&P/ASX 200 Financials Index (ASX: XFJ)'s 0.55% bounce.

Top 10 ASX 200 shares countdown

Uranium company Silex Systems Ltd (ASX: SLX) was today's index topper. Silex shares rocketed 9.4% higher to close at $5.70 each this Friday.

This decisive move came despite no obvious catalysts out from the company itself.

Here's the rest of today's best: 

Enjoy the weekend!

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

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

Brokers have indicated continuing confidence in several ASX 200 shares this week.

Let's take a look.

Telstra Group Ltd (ASX: TLS)

The Telstra share price is $4.99, up 0.1% today and up 2.2% over 12 months.

Morgan Stanley reiterated its buy rating on Telstra shares on Wednesday.

The broker lowered its 12-month share price target from $5.40 to $5.30.

This implies potential capital gains of 6% in FY27.

Liontown Ltd (ASX: LTR)

The Liontown share price is $1.47, down 0.5% today and up 83% over 12 months.

The lithium producer was one of the 5 top ASX 200 mining shares for capital growth in FY26.

Macquarie renewed its buy rating on Liontown shares with a $2.30 target this week.

This suggests a potential 57% upside ahead.

Life360 Inc (ASX: 360)

The Life360 share price is $25.82, down 0.4% today and down 21% over 12 months.

Citi reiterated its buy rating on Life360 shares on Tuesday.

The broker raised its target from $28.25 to $31.95.

This implies potential capital gains of 24% ahead.

Pro Medicus Ltd (ASX: PME)

The Pro Medicus share price is $199.48, down 5.1% today and down 37% over 12 months.

However, that 12-month performance belies this ASX 200 healthcare share's incredible comeback in CY26.

Pro Medicus shares hit a 52-week low of $107.75 on 24 February. Since then, they've ripped 85% higher.

And since the broader healthcare sector pivoted on 3 June, Pro Medicus shares have outperformed with a 25% gain.

That compares to a 21% increase in the S&P/ASX 200 Health Care Index (ASX: XHJ) since 3 June.

Citi sees more room for growth, and reiterated its buy rating with a $240 target this week.

This suggests another 20% upside ahead.

South32 Ltd (ASX: S32)

The South32 share price is $4.02, up 5.2% today and up 32% over 12 months.

Morgan Stanley maintained its buy rating on the ASX 200 mining share this week.

The broker shaved its 12-month target down from $4.85 to $4.75.

This implies a potential 18% upside ahead.

BHP Group Ltd (ASX: BHP)

The BHP share price is $58.28, up 2.5% today and up 52% over 12 months.

Morgan Stanley renewed its buy rating on BHP shares with a $67.50 target this week.

This suggests a potential 15% upside in the new financial year.

WiseTech Global Ltd (ASX: WTC)

The WiseTech share price is $34.24, down 1.1% today and down 70% over 12 months.

This tech share was the fastest faller of the ASX 200 in FY26.

Citi anticipates a strong recovery for WiseTech shares and renewed its buy rating this week.

However, the broker cut its 12-month target significantly from $65.65 to $52.

This still implies potential capital gains of 52% in FY27.

Paladin Energy Ltd (ASX: PDN)

The Paladin Energy share price is $10.15, up 5.1% today and up 46% over 12 months.

Morgan Stanley kept its buy call on the ASX 200 energy share but lowered its target from $13.65 to $11.95 this week.

This suggests a potential 17% upside ahead.

Coles Group Ltd (ASX: COL)

The Coles share price is $23.58, down 0.4% today and up 15% over 12 months.

UBS renewed its buy rating on the ASX 200 consumer staples share with a $25.50 target on Monday.

This suggests a potential 8% upside ahead.

The post 9 ASX 200 shares with reiterated buy calls this week appeared first on The Motley Fool Australia.

Here, we review new notes from the experts regarding three ASX 200 shares. 

Let's take a look.

Life360 Inc (ASX: 360)

The Life360 share price fell 17% to $26.70 on 30 June amid a broader technology sector downturn in FY26.

Chris Savage from Bell Potter has a buy rating on this ASX 200 tech share for FY27.

In a new note last week, Savage said:  

Life360 is our key pick amongst the large tech stocks we cover based on quality, valuation and potential catalysts.

We note the stock looks reasonable value on a 2027 EV/EBITDA multiple of c.23x versus the FY27 EV/EBITDA of Technology One (which has a September year end) of c.26x.

The broker raised its 12-month price target from $33 to $35. 

Savage noted that Life360 will report its 2Q FY26 results on 11 August, and said this may be a catalyst for the share price for three key reasons: 

1. We expect MAU growth to rebound to 4.3m – consistent with 2Q2025 – if not higher (VA consensus is 4.6m) which importantly will imply an exit run-rate of close to 5m given the Android issues which persisted into April and even May; 2. We expect paying circle growth to be strong again at c.155k which is notably above VA consensus of c.135k and even see upside risk to our forecast closer to the 1Q2026 result of 202k; and 3. If paying circle growth is >155k then we see potential for a further upgrade to 2026 revenue and EBITDA guidance as paying circle growth is obviously the key driver of subscription revenue.

Wesfarmers Ltd (ASX: WES)

The Wesfarmers share price rose 6.67% in FY26 to finish at $90.40 on 30 June. 

James Bills from Shaw and Partners has a hold rating on the market's largest ASX 200 consumer discretionary share.

Bills explained why on The Bull this week:  

Wesfarmers continues to demonstrate strength through its diversified portfolio of businesses, particularly with solid contributions from retail giants Bunnings and Kmart.

The group's ability to generate consistent earnings and reinvest capital effectively supports its premium valuation.

Recent updates indicate stable trading conditions, although cost pressures and a softer consumer backdrop may limit near term growth.

While the company remains a high quality industrial with strong management, its current valuation suggests more of a balanced risk-reward profile, which supports a hold stance.

South32 Ltd (ASX: S32)

The South32 share price ripped 34.02% to close out FY26 at $3.90. 

Morgans downgraded its rating on this ASX 200 mining share from accumulate to hold last week.

The broker also cut its 12-month target price from $5 to $4.50.

Morgans said: 

S32 has agreed to sell its entire ali business for total consideration of US$5.6bn (US$4.1bn upfront), and transfer of US$1.2bn closure/rehab liabilities.

Our view on S32's aluminium sale is genuinely mixed. It leaves S32 a simpler and, in important respects, a better business, but also a smaller and less valuable one.

We reduce our valuation on S32's ali assets to in line with the agreed Alcoa deal… As a result we update our rating to HOLD (from Accumulate).

The post Buy, hold, sell: Life360, South32, Wesfarmers shares appeared first on The Motley Fool Australia.

Let's see if it rates these as buys, holds, or sells. Here's what you need to know:

Objective Corporation Ltd (ASX: OCL)

Morgans remains positive on this software provider despite the loss of a major government contract.

It notes that the company's shares have been hammered and are now at a five-year low. In response, the broker has retained its buy rating on Objective Corp's shares with a reduced price target of $11.50. It commented:

OCL's largest and longest standing customer, the Australian Department of Defence, has elected not to renew its Upgrade and Support (USP) agreement for Objective ECM, a relationship that has been in place for over 25 years. Whilst OCL expects no impacts to earnings in FY26, the group has flagged that the impact from the loss in revenue will see FY26 ARR end the period "in line with FY25" on a constant currency basis (i.e. ~A$120m Pre FY26 FX headwinds). Rebasing our forecasts for OCL's revised FY26 ARR, our NPAT estimates reduce by ~22-23% in FY27-28F. Whilst this is a disappointing and unexpected update, post our revisions OCL is trading on FY27F P/E of 21x, with a share price at 5-years lows. We therefore reiterate our Buy rating with a revised PT of $11.50/sh.

ResMed Inc (ASX: RMD)

Morgans also highlights that ResMed shares have de-rated materially this year. This is despite the market continuing to expect strong earnings growth from the sleep disorder treatment company. 

While there are risks, Morgans remains bullish and has put a buy rating and $41.72 price target on its shares. It said:

RMD has de-rated to ~16x forward earnings, its lowest valuation since the post-GFC period, despite consensus continuing to forecast double-digit EPS growth. GLP-1 therapies, positive Phase III data from Apnimed's oral OSA therapy, the prospect of Philips re-entering the US PAP market from 2027 and broader healthcare sector de-rating, have driven recent share price weakness. While these risks are real, current industry data and RMD's operating performance provide limited evidence of a material deterioration in underlying demand. We make no changes to FY26-28 forecasts or our A$41.72 target price. BUY.

South32 Ltd (ASX: S32)

Finally, this mining giant has been downgraded by Morgans following news that it is selling its aluminium business for US$5.6 billion. 

The broker has cut its recommendation to hold with a trimmed price target of $4.50. It explains:

S32 has agreed to sell its entire ali business for total consideration of US$5.6bn (US$4.1bn upfront), and transfer of US$1.2bn closure/rehab liabilities. Our view on S32's aluminium sale is genuinely mixed. It leaves S32 a simpler and, in important respects, a better business, but also a smaller and less valuable one. Total value of up to ~US$6.8bn, which sits at a discount to consensus/Morgans valuations of US$8.8-9.2bn. We reduce our valuation on S32's ali assets to in line with the agreed Alcoa deal, and shift our valuation methodology to a blended NAV:EBITDA valuation of A$4.50 (from A$5.00). As a result we update our rating to HOLD (from Accumulate).

The post Buy, hold, sell: Objective Corp, ResMed, and South32 shares appeared first on The Motley Fool Australia.

As a new financial year begins, brokers have indicated continuing confidence in several ASX 200 shares.

This week, they renewed their buy calls on the following stocks, with updated 12-month price targets for FY27. 

BHP Group Ltd (ASX: BHP)

Over FY26, the market's largest ASX 200 mining share skyrocketed 62% to close out the year at $59.40. 

Morgan Stanley renewed its buy rating on BHP shares this week.

The broker has a 12-month price target of $67.50. 

This suggests more than 10% upside over FY27. 

Northern Star Resources Ltd (ASX: NST)

The market's largest ASX 200 gold mining share rose just 2% to $18.95 over FY26.

UBS reiterated its buy rating on Northern Resources shares this week.

The broker reduced its price target from $24.35 to $23.75. 

This implies potential capital gains of 25% ahead.

ANZ Group Holdings Ltd (ASX: ANZ)

This ASX 200 bank share rose 21% to close out the financial year at $35.35. 

Citi reaffirmed its buy rating on ANZ shares with a price target of $39.25.

This implies potential capital gains of 11% in the new financial year. 

Mineral Resources Ltd (ASX: MIN)

The stock price of this diversified ASX 200 miner rebounded 188% to $62.07 in FY26. 

UBS reaffirmed its buy rating on Mineral Resources shares this week.

The broker lowered its price target from $83 to $79.

This implies potential capital gains of 27% ahead in FY27. 

JB Hi Fi Ltd (ASX: JBH) 

Over FY26, this ASX 200 retail share tumbled 27% to $80.48.

Bell Potter reiterated its buy rating on JB Hi-Fi shares with a price target of $87.

This implies potential capital gains of 8% over FY27.

Neuren Pharmaceuticals Ltd (ASX: NEU)

This ASX 200 healthcare share rose 26% to $17.75 in FY26. 

Bell Potter reiterated its buy rating on Neuren Pharmaceuticals shares this week.

The broker boosted its 12-month share price target from $22 to $23.50. 

This implies potential capital gains of 32% ahead.

Resolute Mining Ltd (ASX: RSG)

Over FY26, this ASX 200 gold stock ripped 56% to 95 cents per share. 

Macquarie renewed its buy rating on Resolute Mining shares with a price target of $1.55.

This implies potential capital gains of 64% for FY27. 

BlueScope Steel Ltd (ASX: BSL)

The BlueScope Steel share price rose 38% over FY26 to close at $31.87. 

RBC Capital renewed its buy rating on the ASX 200 materials share this week. 

The broker raised its 12-month price target from $35.25 to $38.25.

This suggests a potential 20% upside ahead.

South32 Ltd (ASX: S32)

Over FY26, this ASX 200 mining share rose 34% to finish the year at $3.90. 

UBS reaffirmed its buy rating on South32 shares with a reduced price target of $5.

This implies potential capital gains of 28% ahead.

The post 9 ASX 200 shares with renewed buy ratings for FY27 appeared first on The Motley Fool Australia.