The market was caught off-guard by news of a major fire at one of Australia's two oil refineries yesterday.

This will undoubtedly add pressure to the fuel supply chain and potentially add to inflation and the chances of higher interest rates.

Amid the growing global fuel crisis, brokers have indicated continuing confidence in several ASX 200 shares.

These companies received renewed buy ratings this week.

Let's review.

Rio Tinto Ltd (ASX: RIO)

The Rio Tinto share price closed at $172.60 on Thursday, down 0.7%.

Over the past month, the ASX mining giant has lifted 11.6%.

Macquarie reiterated its buy rating on Rio Tinto stock this week.

The broker raised its 12-month price target from $168 to $183.

ANZ Group Holdings Ltd (ASX: ANZ)

The ANZ share price finished the session at $37.73, down 1.3%.

Over the past month, this ASX 200 bank share has edged 0.75% higher.

Morgan Stanley maintained its buy rating on ANZ shares this week.

But the broker shaved its 12-month price target from $37.80 to $37.

Xero Ltd (ASX: XRO)

The Xero share price closed at $81.86 yesterday, up a whopping 9%.

In an apparent rebound for the entire tech sector, Xero shares have risen 16.1% since 30 March.

UBS reiterated its buy rating on Xero shares this week.

However, the broker slashed its 12-month target from $174 to $127.

Paladin Energy Ltd (ASX: PDN)

The Paladin Energy share price closed at $14.15, up 2.6% on Thursday.

Over the past month, this ASX 200 uranium share has rocketed 27.6%.

Morgan Stanley kept its buy rating in place with a $14.45 price target this week.

South32 Ltd (ASX: S32)

The South32 share price finished yesterday's trading day at $4.62, down 0.2%.

Over the past month, this ASX 200 mining share has lifted 11.1%.

Morgan Stanley reiterated its buy recommendation this week.

The broker also lifted its share price target from $4.70 to $5.

Iluka Resources Ltd (ASX: ILU)

The Iluka Resources share price closed at $7.77, up 4%.

Over the past month, this ASX 200 mineral sands share has ripped 20.7%.

Morgan Stanley maintained a buy rating and raised its target from $6.70 to $7.90.

Zip Co Ltd (ASX: ZIP)

Zip was the third-strongest performer within the ASX 200 yesterday.

The Zip share price ripped 11.4% higher to $2.05 ahead of its quarterly update today.

Over the past month, this ASX 200 financial share has soared 28.1%.

Citi reiterated its buy rating on the buy now, pay later provider this week.

The broker has a $2.60 price target on Zip shares.

Coles Group Ltd (ASX: COL)

The Coles share price closed at $22.70, up 0.2%, yesterday.

Over the past month, this ASX 200 consumer staples share has lifted 9%.

Jefferies reiterated its buy rating this week.

The broker also raised its share price target on Coles from $23.50 to $25.50.

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

The latest uptick means the shares are now up 32% for the year-to-date and have soared an impressive 67% higher over the past 12 months.

ASX 200 mining shares went on a rollercoaster ride over the March quarter. Commodity prices rocketed in January, sending South32 higher. In fact, South32 was one of the best performers on the ASX 200 index in January. 

The miner benefited from a perfect storm of strong central bank buying, falling US interest rates, and dwindling expectations for the US dollar. These all drove investors to safe-haven commodities like gold, silver, and copper. 

But it all changed when the war between the US and Iran escalated in late-February. An injection of fear about rising oil prices, energy costs, and supply quickly cooled the mining sector in March. 

While most ASX mining shares have since recovered some of their losses, South32 is streaking ahead. Compared to its mining peers BHP Group Ltd (ASX: BHP), Rio Tinto Ltd (ASX: RIO) and Fortescue Ltd (ASX: FMG), South32 shares have outperformed over the past month, year-to-date and past 12 months.

Why is the South32 share price racing ahead?

South32 mines and produces commodities, including bauxite, aluminium, copper, silver, lead, zinc, nickel, manganese, and metallurgical coal, so it has been well-positioned to absorb the uptick in demand across several minerals and metals.

Unlike BHP, Rio Tinto, and Fortescue, it is not heavily tied to iron or and benefits from diversity across other metals and minerals. 

Because of this diversity, the miner has been able to post some strong financial results, solid production figures and shown it has great momentum.

In January, the miner announced that it had exceeded expectations for first-half production. Alumina production was up 3% in the first half. Meanwhile, aluminium production was up 2%, zinc up 13%, and manganese up 58%. Overall, the company's results were ahead of consensus. 

Later in February the diversified miner reported a 29% jump in profit and 16% increase in underlying earnings.

Can the shares keep climbing?

If this momentum continues, alongside a continued uptick of commodity demand and prices, I think the South32 share price could continue to outpace BHP, Rio Tinto and Fortescue in 2026.

TradingView data shows that the majority of brokers (12 out of 16) have a buy or strong buy rating on South32 shares. Another three have a hold rating and one rates the shares as a sell.

The average target price of $4.93 implies a potential 6% upside at the time of writing. But some brokers are more bullish and are tipping the share price to jump another 18% to $5.51.

The post Up 67% in a year! The red-hot South32 share price is smashing BHP, Rio and Fortescue appeared first on The Motley Fool Australia.

The S&P/ASX 200 Materials Index (ASX: XMJ) tumbled 21% between 27 February and 23 March before a sharp recovery began.

Since then, materials shares have jumped 18% as investors refocus on the positive long-term outlook for Australian mining.

Meantime on The Bull this week, experts have revealed their ratings on three ASX 200 mining shares.

Let's take a look.

BHP Group Ltd (ASX: BHP)

The BHP share price closed at $54.56 on Thursday, up 0.06%.

The market's largest ASX 200 mining share is 59% higher over 12 months.

However, strong momentum was not enough to keep BHP shares immune from the Iran war sell-off.

The BHP share price dropped from a record high of $59.39 on 3 March to a low of $46.06 on 23 March.

With BHP stock now rebounding, Michael Gable from Fairmont Equities gives it a hold rating.

The commodities bull market has only just started, in my view.

As a global mining giant, BHP generally appeals to investors looking to increase exposure in the resources sector.

BHP's share price has retreated to a major support level since the start of the war in Iran.

I'm confident the stock should bounce from these levels.

BHP's diversification makes it a safer bet for investors to ride the commodities bull market.

Capstone Copper Corp CDI (ASX: CSC)

Capstone Copper shares finished yesterday's session at $12.10, down 2.81%.

The ASX 200 copper mining share has almost doubled over the past 12 months, up 97%.

Mitch Belichovski from Morgans Financial has a buy rating on Capstone Copper shares.

Belichovski said:

CSC is one of a limited number of pure play copper names listed on the ASX.

Copper production growth differentiates CSC from its peers.

Growth is driven by a combination of near term and longer dated brownfield and greenfield projects, alongside a declining cost profile.

CSC was recently trading on a modest price-earnings ratio in 2026 and offers good value at these price levels.

South32 Ltd (ASX: S32)

The South32 share price closed at $4.58 yesterday, up 0.22%.

Mark Elzayed from Investor Pulse has a hold rating on South32 shares.

He said South32 was navigating a complex portfolio transition along with operational challenges.

He noted that the company put an aluminium smelter in Mozambique into care and maintenance last month.

However, Elzayed said South32's 1H FY26 results were encouraging.

Underlying EBITDA of $US1.1 billion was up 9 per cent on the prior corresponding period.

Underlying earnings of $US435 million grew 16 per cent, supported by higher base and precious metals prices.

Copper and zinc production remained strong, highlighted by a 28 per cent increase in underground ore reserves at Cannington.

The ASX 200 mining share has soared 43% over six months and is 28% higher in the year to date.

He concluded:

From a valuation and technical standpoint, we see S32 as fairly valued following a strong rally earlier this year.

The stock is consolidating, with technical indicators appearing neutral, and we view it as a wait and see opportunity.

The post Buy, hold, or sell? South32, Capstone Copper, and BHP shares appeared first on The Motley Fool Australia.

But does the broker think they are buys, holds, or sells? Let's see what it is saying about them:

Cochlear Ltd (ASX: COH)

This hearing solutions company delivered a result that was below expectations during the first half of FY 2026.

And while the broker notes that demand for the new Nucleus Nexa system is increasing, it isn't enough for a buy rating at this point. It has put a hold rating and $214.93 price target on its shares. However, this is comfortably ahead of the current Cochlear share price of $172.36. It said:

The 1H26 result was softer than expected, with revenue, margins and profit negatively impacted mainly on longer than anticipated contracting for the newly launched Nucleus Nexa system (Nexa). Soft Cochlear Implants (CI) growth mis-matched sales, reflecting unfavourable emerging market mix and delayed developed market momentum, while Services was flat and Acoustics surprised to downside on increased competitive pressures.

While Nexa adoption accelerated late in the half and management maintained FY26 guidance, but now is targeting the lower end of the range, it increases reliance on a strong 2H recovery which appears optimistic, especially in light of flat GM and FX headwinds. We adjust our FY26-28 estimates and lower our target price to A$214.93. We maintain a cautious stance, but move to HOLD on share weakness.

South32 Ltd (ASX: S32)

Unlike Cochlear, this mining giant outperformed expectations during the first half.

While Morgans was impressed with its result, due to its current valuation, it has lowered its rating to accumulate with a $5.00 price target. This compares to the latest South32 share price of $4.42. It said:

Bumper 1H26 EBITDA comfortably ahead of consensus and close to our estimate, riding consistent production and higher base and precious metals. 15% interim dividend beat and upsized capital management of an extra US$100m. Not all positive, Hermosa budget increase flagged for H2 a ST risk to monitor. Guidance unchanged, besides Brazil Aluminium output and capex timing tweaks.

We lower our rating to ACCUMULATE (from BUY) with an unchanged A$5.00 TP, recommending patience when adding following the recent share price surge.

Westpac Banking Corp (ASX: WBC)

Finally, Morgans has been looking at Westpac shares following its first-quarter update.

Although the broker was pleased with the update, it has only been enough to upgrade its shares to a trim rating (between sell and hold) with a $35.12 price target. This compares to the latest Westpac share price of $39.85. It said:

A largely stable 1Q26 result compared to the 2H25 quarterly average (normalised for 2H25's restructuring charge), which is better than 1H26 expectations. We are assuming a more bullish loan growth and impairments outlook than previously (and slightly more conservative costs).

There is no change to FY26F EPS but there are 5-8% upgrades to FY27-28F. Target price lifts to $35.12/sh. We upgrade to TRIM given the improved, but still negative, potential TSR.

The post Buy, hold, sell: Cochlear, South32, and Westpac shares appeared first on The Motley Fool Australia.

After a 32% surge in CY25, the S&P/ASX 200 Materials Index (ASX: XMJ) managed just a 1.1% gain over the first quarter of CY26.

Let's recap.

What happened in the first quarter?

The miners had momentum in January as commodity prices skyrocketed on new year optimism following an extraordinary run in CY25.

The gold price ripped from just over US$4,300 per ounce on 31 December to a new record of US$5,608 on 29 January.

Then came the sell-off, with commodities plummeting over just a few days. The gold price fell 21% to US$4,400 per ounce by 2 February.

The sell-off was triggered by US President Donald Trump nominating the more hawkish contender, Kevin Warsh, to be the next Fed chair.

Investors feared tighter US monetary policy, which would be a headwind for metals prices, so they sold their mining shares to preserve profits.

For the month of January, the ASX 200 materials sector rose 9.5%.

In February, metals prices rebounded as the 5 key drivers of a new commodities supercycle continued to drive demand.

The materials sector lifted a further 9% over the month.

Then came the war.

On 28 February (US time), Israel and the US launched missile strikes on Iran on the basis of eliminating its ability to build nuclear weapons.

This injected fear into markets, with the ensuing oil shock driving oil and gas prices substantially higher.

That's no good for the mining sector, which now faces higher energy costs and potentially constrained supply, which may limit production.

This led to a dramatic dive for ASX 200 mining shares this month.

At the time of writing, the materials sector is down 15.3% over March, with almost all of the gains over January and February wiped out.

What's next for ASX 200 mining shares?

We saw signs of a fightback last week, with ASX 200 materials the fastest rising market sector with a 4.6% gain.

Investors may be buying the dip on ASX 200 mining shares on hopes that negotiations between the US and Iran will end this war soon.

The long-term outlook for mining shares is bright, with Australia in the early stages of a new mining boom driven primarily by the green energy transition, and increasingly, a desire among western nations for greater sovereign manufacturing capability and energy security.

Experts say a new metals supercycle is underway, with the primary beneficiaries being copper, uranium, lithium, rare earths, and silver.

How BHP shares fared in 1Q FY26

The BHP Group Ltd (ASX: BHP) share price has lifted 9.8% in the first quarter to $49.93 at the time of writing.

The following chart demonstrates the rollercoaster ride over 1Q CY26 for the market's largest ASX 200 mining share.

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

Rio Tinto Ltd (ASX: RIO) shares lifted 8.8% over 1Q FY26 to $159.69 today, while Fortescue Ltd (ASX: FMG) fell 8.2% to $20.21 today.

The Mineral Resources Ltd (ASX: MIN) share price rose fell 1.6% to $53.55 today.

The South32 Ltd (ASX: S32) share price rocketed 19.2% over 1Q CY26 to $4.25 today.

The post ASX 200 mining shares ride a rollercoaster in March quarter appeared first on The Motley Fool Australia.

After starting deep in red territory this morning, the ASX 200 dropped as low as 8,379 points during intra-day trading before wrapping up at a flat 8,461 points. That puts the index down 0.65% for the session today.

This rather bleak Monday for ASX investors came after an even more turbulent end to the American trading week on Saturday morning (our time).

The Dow Jones Industrial Average Index (DJX: .DJI) was hit hard, dropping by a nasty 1.73%.

The tech-heavy Nasdaq Composite Index (NASDAQ: .IXIC) fared even worse, falling by a horrid 2.15%.

But let's get back to this week and our local markets, and check out the damage to the different ASX sectors inflicted by today's market drop.

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

Major producers targeted

Aluminium Bahrain, which operates one of the world's largest smelters, said on Sunday it was assessing damage to its facility after Iranian attacks over the weekend.

The company said further:

The safety and security of Alba's people remain its top priority and the Company confirms that 2 of Alba's employees sustained minor injuries. Alba is assessing the extent of the damage to its facilities and remains focused on maintaining its operational resilience and the safety of its employees. The Company will provide further updates, as required, in due course.

Meanwhile, there was reported to be significant damage at Emirates Global Aluminium's site after attacks from missiles and drones.

Shares in Australian aluminium producers jumped as a result, with Alcoa Corporation (ASX: AAI) leading the pack with its shares trading 9.2% higher at $93.84.

Shares in South 32 Ltd (ASX: S32) were 6.3% higher in early trade, while Rio Tinto Ltd (ASX: RIO) shares were 2.9% higher at $157.64.

The Reuters report on the attacks said the aluminium suppliers in the Persian Gulf region had already been unable to ship to world markets due to the closure of the Strait of Hormuz.  

Aluminium Bahrain had already shut down lines one, two, and three at its site, "which together represent 19% of Alba's total production capacity of 1,623,000 metric tonnes per annum, as an operational measure to preserve business continuity amid ongoing supply and transit disruptions affecting the Strait of Hormuz''.

The company said further:

This targeted, line-specific action is designed to optimise the utilisation of Alba's existing raw materials inventory and prioritise operational stability across Reduction Lines 4, 5 and 6. By concentrating strategic raw materials' inputs on the most sustainable operating configuration, Alba aims to maintain production resilience, manage working capital prudently, and develop alternatives to reduce exposure to near-term supply volatility. Alba continues to monitor and respond to the situation and will provide updates to the market as appropriate. The Company is also working closely with suppliers and customers to manage commitments and mitigate disruption.

Emirates Global Aluminium claims to be the number one premium aluminium producer in the world, accounting for 4% of global production and 2.83 million tonnes of metal cast in 2025.

Local operators on the ropes

Australia's aluminium industry has been struggling to survive without government support in recent years, with Rio just last week securing a $2 billion taxpayer handout to keep Queensland's Boyne smelter operating until at least 2040.

The post Why are Australian aluminium shares charging higher today? appeared first on The Motley Fool Australia.

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

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

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

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

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

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

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

Let's recap.

ASX 200 mining shares fight back

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

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

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

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

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

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

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

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

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

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

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

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

What about ASX gold shares?

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

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

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

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

ASX 200 market sector snapshot

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

Over the five trading days:

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

The ASX materials sector, which is dominated by the mega miners, is 2.3% higher, while the energy sector is down 3.5%.

The S&P/ASX 200 Index (ASX: XJO) is in recovery mode today, up 1%, after a surge in oil prices created a $90 billion rout yesterday.

While the war in Iran is dominating headlines, longer-term trends in our investment markets continue to play out.

One of them is a new commodities 'super cycle' that seems to be taking strong hold of our share market.

So, let's dig into the question posed in our headline today.

Is Australia now in a new mining boom?

Australia's last mining boom, from the early 2000s through to 2013, was primarily driven by China's rapid industrialisation.

This period saw a big increase in iron ore and coal prices, major investment in mining infrastructure, and a substantial lift in exports.

It appears we've now entered a new mining boom, but this one is not going to centre on iron ore, nor demand from just China.

This boom will centre on critical materials with industrial applications tied to electrification, power generation, and energy security.

Demand will come from many nations, underpinned by structural changes in the global economy that will take decades to play out.

Paul Wong and Jacob White from Sprott Asset Management name copper, uranium, lithium, rare earths, and silver as the commodities to watch.

In an article, Wong and White said:

[This is] a new kind of commodity supercycle.

The emerging bull market is not repeating past cycles, and is being driven by deglobalization, fiscal dominance and the global push for energy, infrastructure and strategic, domestic supply chains.

AMP Ltd (ASX: AMP) Head of Investment Strategy and Chief Economist, Shane Oliver, also says we are embarking on "a new super cycle in commodities".

In a recent article, Dr Oliver said:

… the commodity price slump from their 2008-2011 highs looks to be over with commodities embarking on a new super cycle bull market driven by constrained supply after low levels of investment and electrification and rising defence spending driving increased demand for metals.

This will benefit Australia's resource stocks.

Iron ore is likely to feature less this time around partly reflecting slowing urbanisation in China and its property slump.

Commodity prices and ASX mining shares

The price of gold, silver, copper, lithium, and many critical minerals skyrocketed last year amid rising demand and low supply.

This pushed up the prices and returns of scores of ASX mining shares, with materials the top sector of 2025, returning a staggering 36%.

Gold is part of this mining boom, but for different reasons. Gold is benefiting from central bank buying and safe-haven investor demand.

Wong and White added:

After years of shrinking representation in global portfolios, commodities and resource equities have broken out above multi-year trading ranges, an action that, in our view, marks the developing stages of the new commodity bull market.

Impact on ASX mining shares

The new mining boom is already playing out in the Australian share market.

The BHP Group Ltd (ASX: BHP) share price is up 31% over 12 months and 12.2% in the YTD.

BHP shares recently soared to $59.39 apiece, their highest level in 140 years, and the miner is once again the market's largest company.

Many other ASX mining shares have also hit new records.

These include Rio Tinto Ltd (ASX: RIO) shares at $170.71 per share and Northern Star Resources Ltd (ASX: NST) at $31.96 per share.

Take a look at the 12-month change in these ASX mining shares below.

Foolish Takeaway

Wong and White emphasise that this mining boom will not be broad-based, and targeted exposure is important.

They said:

Broad commodity exposure may lack focus on the critical materials currently leading this cycle.

Investors are increasingly focusing on companies tied directly to critical materials and structural demand trends.

As an example, Wong and White point out that copper miners are outperforming diversified miners.

We can see this by comparing the performance of Global X Copper Miners AUD ETF (ASX: WIRE), up 84% over 12 months, to diversified ETF BetaShares Australian Resources Sector ETF (ASX: QRE), up 42%, and VanEck Australian Resources ETF (ASX: MVR), up 48%.

Wong and White conclude:

We see considerable room for continued outperformance from select commodities and the associated equities. 

The post Australia's next great ASX mining boom: Are we already in it? appeared first on The Motley Fool Australia.

Over 6 months, the upswings are even more impressive with Evolution Mining gaining 87% and South32 up almost 72% at the time of writing.

On Tuesday, both ASX mining stocks slipped about 4%, raising the obvious question: can the rally continue?

Evolution Mining: Copper and gold exposure

This $36 billion ASX mining stock is one of Australia's biggest gold producers, with operations in New South Wales, Queensland and Western Australia. It also earns meaningful copper revenue, giving it some exposure to metals beyond gold.

The company focuses on cost control, meeting production targets and turning ore into cash, which has helped it benefit from elevated gold prices.

In its half-year results to 31 December 2025, the ASX mining stock posted a strong profit performance. Statutory net profit jumped substantially compared with the prior corresponding period, backed by higher output and solid realised commodity prices.

Its strengths are hard to ignore. The company's long-life assets and diversified metal exposure give it durability through cycles. Its project pipeline, including expansions at key underground and open pit operations, offers upside without over-reliance on a single mine.

Management's focus on disciplined spending and debt reduction also appeals in uncertain times.

But risks remain. Metal prices swing, and gold and copper can retreat sharply, dragging earnings with them. Cost inflation and operational hiccups at any mine can erode margins.

Not many brokers are convinced the current valuation of the ASX mining stock still offers large upside. The average target price is $14.05, which implies a 16.7% downside at the time of writing.

South32: Broad mix helps smooth earnings

South32's diversified metals base and cost discipline has helped it capture investor interest amid resurgent industrial metal prices. This ASX mining stock operates across alumina, aluminium, manganese, nickel, copper, zinc, lead and silver.

That broad mix helps smooth earnings when one commodity dips and another rallies. In its first-half FY2026 update, South32 reported steady production, solid margins and free cash flow generation. The company maintained its full-year guidance and continued to return capital through dividends and buybacks.

The diversified base remains one of South32's biggest strengths. No single commodity dominates earnings, and exposure to base metals tied to electrification, infrastructure and energy transition themes gives the ASX mining stock strategic relevance.

Balance sheet discipline and shareholder returns also appeal to long-term investors.

Risks stem from volatility in underlying commodity prices and operating costs. Aluminum and alumina markets can be soft, and production cost inflation can erode margins.

Brokers are a little more positive on this ASX mining stock than Evolution Mining. The latest consensus from analysts pegs an average 12-month price target of $4.83. This points to a 6% upside from current levels.

The post Can these 2 ASX mining stocks keep soaring in 2026? appeared first on The Motley Fool Australia.

In fact, some of them downright turbocharged them by up to 200%!

The dividend splurge follows a boom in commodity prices over the first six months of FY26.

The biggest dividend increases, in percentage terms, came from the ASX 200 gold shares.

Let's check them out.

ASX 200 gold shares splash the dividend cash

One of the stand-out stocks for boosted dividends was Regis Resources Ltd (ASX: RRL), which tripled its interim payment this year.

Regis Resources shares will pay a fully franked 15-cent per share dividend, up 200% from the 5-cent dividend for 1H FY25.

The miner reported a record net profit after tax (NPAT) of $323 million, up 73% year-over-year, for 1H FY26.

Regis Resources CEO Jim Beyer said:

Looking to the remainder of the financial year, we remain on track to deliver in line with guidance and in the prevailing gold price environment, we expect to see another period of significant cash generation and profitability.

Regis Resources shares go ex-dividend next Thursday, 12 March.

Evolution Mining Ltd (ASX: EVN) was another stand-out dividend raiser.

Evolution upped its dividend by 186% to a record 20 cents per share, fully franked.

This was enabled by a 110% NPAT lift to $766.6 million for 1H FY26.

Evolution Managing Director, Lawrie Conway, said:

Our record dividend of 20 cents per share meets our commitment to reward shareholders in the current high metal price environment.

With a clear pipeline of high-return projects now advancing, we're positioned for strong, sustainable growth while continuing to return capital to shareholders.

Evolution shares go ex-dividend tomorrow.

Another ASX 200 gold mining share, Perseus Mining Ltd (ASX: PRU), will pay a doubled interim dividend to shareholders.

The miner will pay an unfranked interim dividend of 5 cents per share, up from 2.5 cents per share for 1H FY25.

This is despite reporting just a 5% lift in revenue to US$608.5 million and a 7.8% fall in NPAT to $185.5 million for 1H FY26.

Perseus Mining CEO Craig Jones said:

Our strong operational results along with our low operating cost, produced robust cash flows further strengthening our superior balance sheet, enabling a 100% increase in our interim dividend to AUD 5.0 cents per share.

Perseus Mining shares go ex-dividend on Thursday.

The rivers of gold continue…

Ramelius Resources Ltd (ASX: RMS) shares will pay a fully-franked interim dividend of 3 cents per share on 15 April.

This exceeds the company's commitment to a minimum annual dividend of 2 cents per share for FY26.

Ramelius Resources reported a 13% increase in EBITDA to $347.7 million but a 6% decline in NPAT to $160 million.

The ASX gold share goes ex-dividend on 16 March.

Capricorn Metals Ltd (ASX: CMM) shares will pay a maiden fully franked interim dividend of 5 cents per share.

The gold miner reported a 130% jump in underlying NPAT to $144.8 million for 1H FY26.

The ASX 200 gold share goes ex-dividend on Monday, 16 March.

What about other ASX 200 mining shares?

BHP Group Ltd (ASX: BHP) shares will pay an interim dividend of $1.03 per share, up 46% on 1H FY25, with full franking credits.

The 'Big Australian' revealed a 28% profit increase to US$5.64 billion for 1H FY26.

BHP shares will go ex-dividend on Thursday.

Fortescue Ltd (ASX: FMG) shares will pay a fully franked interim dividend of 62 cents per share, up 24% on 1H FY25, on 30 March.

Fortescue reported a 23% NPAT increase to US$1.9 billion for 1H FY26.

The ASX 200 iron ore mining share went ex-dividend today.

South32 Ltd (ASX: S32) raised its interim dividend by 15% to 3.9 US cents per share, fully franked.

The miner reported a 29% lift in profit attributable to members to US$464 million for 1H FY26.

The ASX 200 diversified mining share goes ex-dividend on Thursday.

Ex-dividend dates this week

Check out other ASX 200 mining shares that have ex-dividend dates this week.

The post Which ASX 200 mining shares raised their dividends this earnings season? appeared first on The Motley Fool Australia.

As usual, it was the major ASX 200 mining shares that propelled the sector higher.

The highlight was the BHP Group Ltd (ASX: BHP) share price ascending to its highest level in 140 years as a listed company.

BHP shares rose above their previous record of $54.55, set in mid-2021, on Monday; then lifted further to $58.29 on Thursday.

BHP also took back its title as the market's largest company from Commonwealth Bank of Australia (ASX: CBA) on Friday.

Meantime, the S&P/ASX 200 Index (ASX: XJO) rose 1.29% to finish the week at a record high of 9,198.6 points.

Six of the sectors finished the week in the green.

Let's review.

ASX materials sector back in the saddle

The Rio Tinto Ltd (ASX: RIO) share price lifted 2.47% to finish the week at $167.33.

The Fortescue Ltd (ASX: FMG) share price rose 5.49% to $21.14 after the miner revealed its 1H FY26 results on Wednesday.

Mineral Resources Ltd (ASX: MIN) shares rose 19% to $60.98.

The ASX 200 mining share is riding a new wave of momentum after reporting record EBITDA of $1.2 billion for 1H FY26, up 286%.

The South32 Ltd (ASX: S32) share price climbed 4.78% to $4.60.

Among the ASX 200 gold mining shares, Northern Star Resources Ltd (ASX: NST) rose 6.88% to close at $30.28 on Friday.

The Newmont Corporation CDI (ASX: NEM) share price increased 5.73% to $177.20.

Evolution Mining Ltd (ASX: EVN) shares rose 10.17% to finish the week at $16.58.

The Evolution share price reached a record $16.99 in intraday trading on Friday.

ASX 200 copper pure-play Sandfire Resources Ltd (ASX: SFR) rose 7.17% to $20.19 on Friday.

Capstone Copper Corp CDI (ASX: CSC) shares finished 4.48% higher at $14.70.

ASX 200 lithium mining share PLS Group Ltd (ASX: PLS) soared 24.16% to close the week at $5.19.

PLS Group shares are also on an upward trajectory after the miner revealed a 241% EBITDA surge in 1H FY26.

The Liontown Ltd (ASX: LTR) share price rose 5.25% to $1.71 on no price-sensitive news last week.

Among ASX 200 ASX rare earths shares, Lynas Rare Earths Ltd (ASX: LYC) ripped 21.05% higher to $18.98.

Last week, Lynas Rare Earths reported a net profit of $80.2 million for 1H FY26, up from $5.9 million in 1H FY25.

Scores of ASX 200 shares have ex-dividend dates next week. Check them out here.

ASX 200 market sector snapshot

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

Over the five trading days:

The post ASX 200 materials sector leads as earnings season ends with a record high appeared first on The Motley Fool Australia.

After drifting through much of the past two years, South32 shares have flipped the script and delivered one of the stronger performances among large-cap miners on the S&P/ASX 200 Index (ASX: XJO).

Investors who were growing impatient are suddenly being rewarded as the market re-rates the diversified miner on the back of improving operations and firmer commodity prices. Now the question is: Can South32 shares keep the rally going?

No hype, real substance

The rally hasn't come from hype. It has come from execution. South32 has tightened costs, delivered solid production across key assets, and reassured the market that guidance remains intact. The miner has backed it up with strong half-year financial results and solid production numbers, giving the rally real substance.

Copper, silver, and gold have smashed through to fresh record highs this year. The surge in commodity prices has powered South32 shares toward a multi-year high earlier this month. In the past 6 months, the ASX 200 mining stock has seen its value increase by a massive 71% to $20.5 billion.

Controlling cyclical miner

It's not just macro tailwinds at play. Manganese volumes have impressed, alumina output has stabilised, and aluminium performance has been resilient despite a choppy macro backdrop. When a cyclical miner shows it can control what it can control, the market tends to pay attention. For a diversified producer like South32, stronger pricing flows directly into margins and cash generation.

Capital management has also helped sentiment. The ASX mining stock has maintained a disciplined balance sheet and continued returning cash to shareholders through dividends and buybacks. In a market where investors are demanding both growth and yield, that combination is powerful.

It reinforces the idea that this is not a speculative turnaround, but a business with tangible cash flow underpinning it.

Geopolitical challenges

Still, risks haven't vanished. Commodity stocks like South32 shares remain at the mercy of global growth. A slowdown in China or a broader industrial downturn would quickly pressure metals prices and earnings expectations.

Operationally, asset-specific challenges remain, including power and geopolitical risks at certain offshore operations. Mining is never a straight-line business, and volatility is part of the package.

What next for South32 shares?

Valuation is another consideration. After a strong run for South32 shares, the easy gains may already be behind the stock. The market is now pricing in continued operational stability and supportive commodity markets. Any stumble in production or softer pricing could see momentum cool just as quickly as it heated up.

So is there more upside? There could be, particularly if base metal demand remains resilient and South32 continues to execute cleanly. Most analysts are still keen on South32 shares with a buy or strong buy rating. They have set an average 12-month price target of $4.80, a modest 4% upside.

Due to the recent share price surge, Morgans recently downgraded South32 shares to an accumulate rating (from buy) with an unchanged price target of $5. This points to a potential gain of roughly 9% over 12 months at current levels.

The post Can South32 shares keep it going after stellar start in 2026? appeared first on The Motley Fool Australia.

In order to receive a dividend, you must own the ASX share before its ex-dividend date.

Here is a sample of the large number of ASX All Ords shares with ex-dividend dates next week.

ASX All Ords shares about to go ex-dividend

Which companies will we hear from today?

The big one today is the half-yearly report from supermarket network Coles Group Ltd (ASX: COL).

Woolworths shares ripped this week after the ASX All Ords consumer staples giant reported a 16% profit lift to $859 million for 1H FY26.

We'll also hear from TPG Telecom Ltd (ASX: TPG), Michael Hill International Ltd (ASX: MHJ), and Pexa Group Ltd (ASX: PXA).

The latest report from The Star Entertainment Group Ltd (ASX: SGR) will also be interesting, as investors seek further news on the turnaround plan for the beleaguered casino operator.

Yesterday, Star Entertainment shares bounced on news of a debt refinancing deal, including extra liquidity to fund the turnaround plan.

The post 35 ASX All Ords shares with ex-dividend dates next week appeared first on The Motley Fool Australia.

Although iron ore prices dipped back below US$100 per tonne last week, currently at around US$96 per tonne, the industrial metal has held up far better than most analysts have been predicting.

And metals including copper and aluminium have also been trading at lofty levels.

Atop the two fully franked dividends both S&P/ASX 200 Index (ASX: XJO) mining stocks paid over the past 12 months, this has also helped them deliver solid share price performance.

As at Tuesday's close, Fortescue shares have gained 9.7% in a year. And the South32 share price has surged 22.8% over this time.

Which brings us back to our headline question…

Should you buy South32 and Fortescue shares today?

Shaw and Partners' Jed Richards recently analysed the outlook for South32 and Fortescue shares (courtesy of The Bull).

Commenting on South32 shares, Richards said, "The miner is benefiting from strength across several of its key commodity markets, particularly aluminium, alumina, manganese and nickel.

He added:

Increasing global investment in energy transition infrastructure continues to support demand for these metals, while tighter supplies in aluminium and manganese assists in keeping prices elevated. Nickel markets remain volatile, but long-term demand linked to battery production provides an underlying support theme.

But with potential future volatility in mind, Richards issued a hold recommendation on South32 shares. He concluded:

Despite these positive conditions, commodity markets can shift quickly, and the next phase of the cycle will depend heavily on global industrial activity and continuing momentum in electrification. For now, the outlook remains encouraging, but given the inherent volatility across these commodities, I believe it's prudent to hold existing positions rather than add further exposure until we see increasing clarity in pricing trends and broader macroeconomic conditions.

Turning to Fortescue shares, Richards noted, "The miner continues to benefit from iron ore prices, which are holding up better than many expected."

He said, "The company's low-cost position and large-scale operations support strong profitability. But similar to my commentary on S32, the commodities and iron ore markets are cyclical."

However, Richards also issued a hold recommendation for Fortescue shares. He concluded:

Movements in iron ore prices are influenced by global demand and particularly China's steel production. For that reason, I'm comfortable maintaining current exposure without leaning in further just yet.

The buy case for South32 shares

MPC Markets Jonathan Tacadena has a more optimistic outlook on South32 shares.

"Mining operations include aluminium, copper, zinc, lead, manganese and silver," he said (quoted by The Bull).

Tacadena noted:

The company delivered a solid first half year result in fiscal year 2026, with earnings largely in line with expectations, a better-than-expected dividend and an expanded share buy-back, which is usually a good sign.

Summarising his buy recommendation on South32, Tacadena said

Extending the Cannington mine life adds value amid upside potential at Sierra Gorda and Hermosa. S32 has a quality portfolio with improving margins. We believe the company is a solid long-term buy, particularly on any temporary dips.

South32 shares closed yesterday trading for $4.50 each.

Fortescue shares closed the day at $20.28.

The post Should you buy South32 and Fortescue shares amid strong commodity prices? appeared first on The Motley Fool Australia.

Are these mining shares buys, holds, or sells? Let's find out:

Fortescue Ltd (ASX: FMG)

This iron ore giant is a popular option in the mining sector. However, the team at Shaw and Partners only rates it as a hold at present.

Although the broker is comfortable maintaining its current exposure, it isn't recommending investors buy Fortecue shares at current levels. It explains:

The miner continues to benefit from iron ore prices, which are holding up better than many expected. The company's low cost position and large scale operations support strong profitability. But similar to my commentary on S32, the commodities and iron ore markets are cyclical.

Movements in iron ore prices are influenced by global demand and particularly China's steel production. For that reason, I'm comfortable maintaining current exposure without leaning in further just yet.

Solstice Minerals Ltd (ASX: SLS)

Analysts at MPC Markets are positive on this copper and gold explorer. They were pleased with recent drilling results from the Nanadie project in Western Australia.

In light of this and the recent pullback in its share price, MPC Markets thinks an appealing entry point has opened up for investors and is recommending the mining stock as a buy. It said:

The miner recently delivered encouraging copper-gold drilling results at its Nanadie project in Western Australia, including an impressive assay of 62 metres at 1.55 per cent copper and 0.66 grams a tonne of gold. Management believes this is a large scale system, with meaningful high grade zones beyond the existing inferred mineral resource estimate of 162,000 tonnes of copper and 130,000 ounces of gold.

The share price doubled in response to the latest assay results, but has since retreated to more appealing entry levels on February 19, 2026. More assay results are due in coming weeks, which may be positive. Investors, with an appetite for risk, may want to consider buying SLS in anticipation of good results.

South32 Ltd (ASX: S32)

MPC Markets is also recommending South32 shares as a buy this week. After a solid half-year result, it believes South32 is a good long-term buy, especially on any pullbacks. It said:

Mining operations include aluminium, copper, zinc, lead, manganese and silver. The company delivered a solid first half year result in fiscal year 2026, with earnings largely in line with expectations, a better-than-expected dividend and an expanded share buy-back, which is usually a good sign. Extending the Cannington mine life adds value amid upside potential at Sierra Gorda and Hermosa. S32 has a quality portfolio with improving margins. We believe the company is a solid long term buy, particularly on any temporary dips.

The post Buy, hold, sell: Fortescue, Solstice, and South32 shares appeared first on The Motley Fool Australia.

Let's see how three big names fared after the broker reviewed their updates. Are they buys, holds, or sells?

ANZ Group Holdings Ltd (ASX: ANZ)

Morgans concedes that ANZ's first-quarter update implies that it is trading ahead of expectations during the first half of FY 2026.

However, it notes that this was driven by cost reductions. So, with management retaining its cost guidance for the full year, it isn't getting overly excited by the update.

In fact, due to valuation reasons, the broker has downgraded ANZ shares to a sell rating with a slightly improved price target of $32.65. It said:

On face of it, the 1Q26 trading update suggested ANZ was tracking ahead of 1H26 growth expectations.  However, the beat was driven mostly by the speed of cost-out and will unlikely affect consensus expectations as ANZ retained its FY26 cost guidance of c.$11.5bn. We make minor adjustments to FY26-28F EPS, reflecting 1Q26 Markets revenue strength, impairment charges lower than expected (but off an already low base), and higher shares on issue (DRP uptake was higher than assumed). 12-month target price $32.65 (+8 cps).

We estimate ANZ is trading on 1.8x P:TBV, 16x PER, and 4.1% cash yield (partly franked), all stretched against historical trading ranges. Given the recent share price strength, we downgrade our rating from TRIM to SELL with a potential TSR of -15%.

Breville Group Ltd (ASX: BRG)

Morgans was pleased with this appliance manufacturer's half-year results and particularly its operational execution in a difficult environment. In light of this, the broker has retained its buy rating with an improved price target of $40.65. It explains:

1H26 was better-than-feared, with double-digit sales growth (+10%) largely offset by tariff costs (~130bp GM impact) to deliver a flat NPAT outcome (+1% on pcp). Crucially, FY26 EBIT growth guidance provides much-needed earnings visibility, alleviating some concerns for an extended transition year and improving our confidence for a resumption of sustainable EPS growth from FY27+.

We continue to be impressed by BRG's strong operational execution, green shoots in Food Prep, and powerful medium-term tailwinds (geographic expansion, espresso tailwinds, NPD, Best Buy developments). Buy maintained.

South32 Ltd (ASX: S32)

Lastly, diversified mining giant South32 delivered a first-half profit result and dividend that was ahead of the market's expectations.

But due to a recent share price surge, the broker has been forced to downgrade South32's shares to an accumulate rating (from buy) with an unchanged price target of $5.00. It explains:

Bumper 1H26 EBITDA comfortably ahead of consensus and close to our estimate, riding consistent production and higher base and precious metals. 15% interim dividend beat and upsized capital management of an extra US$100m. Not all positive, Hermosa budget increase flagged for H2 a ST risk to monitor. Guidance unchanged, besides Brazil Aluminium output and capex timing tweaks.

We lower our rating to ACCUMULATE (from BUY) with an unchanged A$5.00 TP, recommending patience when adding following the recent share price surge.

The post Buy, hold, sell: ANZ Bank, Breville, South32 shares appeared first on The Motley Fool Australia.

IperionX Ltd (ASX: IPX)

Titanium metal and critical materials company, IperionX, recently said it plans to ramp up production with the goal of becoming America's largest and lowest-cost titanium powder producer. 

The company recently received a prototype purchase order valued at US$300,000 from American Rheinmetall. The order is for the production of 700 lightweight titanium components destined for US Army heavy ground combat systems.

IperionX also recently received the final US$4.6 million tranche of funding under a previously announced US government award. The funding comes through the US Department of War's Industrial Base Analysis and Sustainment program, which aims to strengthen domestic supply chains for critical materials.

Analysts are bullish on the company's shares, with a strong buy consensus rating for IperionX. The maximum target price is $11.03, which implies a potential 84.69% upside at the time of writing.

South32 Ltd (ASX: S32) 

The prices of copper, silver and gold have reached all-time highs this year, and the momentum has driven South32's shares toward a multi-year high earlier this month. The miner has also posted strong financial results over the past six months and solid production figures. 

Last month, the miner announced that it had exceeded expectations for first-half production. Overall, the results were ahead of consensus, and investors were thrilled.

I don't think the good news will stop there either. In fact, I think South32 could outpace mining giant BHP this year.

South32 shares are tipped to rise up to 11.83% from the current share price, to $5.22 a piece.

Xero Ltd (ASX: XRO)

Xero's "sticky" subscription-based model, high retention rate and active product expansion make it a great contender for growth this year.

The ASX business is still early in its global expansion, too. If it can crack the US market and become more dominant while maintaining its position and revenue in other markets, its earnings could surge as well.

Despite the company's operating revenue, net profit and cash flow continuing to rise, its share price has dived recently as investor confidence struggles to pick back up. Concerns about AI and the company's US Melio acquisition dented sentiment last year. But I think the latest share price decline is a fantastic opportunity for investors to buy the stock cheaply.

In fact, I'm quietly confident that Xero shares could double in value in 2026, or go even higher. Analysts are mostly bullish on the shares and expect an upside of up to 200.55% this year, at the time of writing, to $233.73.

The post The 3 ASX shares I'd buy and hold into 2026 appeared first on The Motley Fool Australia.

The benchmark index rose above 9,000 points for the first time in 14 weeks yesterday as earnings season continues.

Yesterday's gain was largely due to a surge in Commonwealth Bank of Australia (ASX: CBA) shares following the bank's 1H FY26 report.

A surprise 6% profit lift took CBA back to the top spot on the ASX 200, displacing the recently returned BHP Group Ltd (ASX: BHP) shares.

CBA shares took the title from BHP in July 2024, and BHP shares took it back last month.

On Thursday, the market remained above the 9,000-point mark, trading between a low of 9,014 points and a high of 9,105 points.

That's not far off the market's all-time high of 9,115.2 points reached in October last year.

Five ASX 200 large-cap shares reached new record prices today, and two more stocks reached multi-year highs.

Large-caps have a market capitalisation of $10 billion or more.

All seven ASX 200 shares are from the market's two largest sectors — financials and materials (which incorporates mining).

Let's take a look.

7 ASX 200 large caps setting new price milestones today

ANZ Group Holdings Ltd (ASX: ANZ)

The ANZ share price skyrocketed 9.1% to a record $40.57 on Thursday.

This followed the release of the bank's 1Q FY26 report.

ANZ reported a quarterly cash profit of $1.94 billion, up 75% from the 2H FY25 quarterly average.

Westpac Banking Corp (ASX: WBC)

The Westpac share price lifted 3.6% to a record $41.72 in earlier trading.

There was no price-sensitive news pertaining to the big four ASX 200 bank share today.

National Australia Bank Ltd (ASX: NAB)

The National Australia Bank share price rose 3.9% to a record $47.25 on Thursday.

NAB also had no news for the market.

It's likely that both NAB and Westpac shares are simply benefiting from the slipstream of ANZ's surge today.

South32 Ltd (ASX: S32) 

The diversified ASX 200 miner climbed 5.4% to an intraday high of $4.91 on Thursday.

That is South32's highest share price since June 2022.

The price surge came on the back of the miner's 1H FY26 report.

South32 reported a 29% increase in profit to US$464 million.

The ASX 200 mining share will pay a fully-franked interim dividend of 3.9 US cents per share.

BHP Group Ltd (ASX: BHP)

The BHP share price ascended 3.1% to an intraday high of $52.64.

BHP shares have not traded at this level since April 2022.

The Big Australian is due to release its 1H FY26 report next Tuesday.

Rio Tinto Ltd (ASX: RIO)

Rio Tinto, the third largest ASX 200 mining share, reached a record $168.78, up 2.6%, in earlier trading.

The Rio Tinto share price has been on a roll since the company walked away from merger talks with Glencore last week.

Northern Star Resources Ltd (ASX: NST)

The Northern Star Resources share price ripped 6.9% to a record $30.21 after the gold miner dropped its 1H FY26 report.

Northern Star revealed a 41% increase in statutory net profit after tax (NPAT) to $714.4 million.

The ASX 200 gold mining share will pay a fully-franked interim dividend of 25 cents per share.

The post 7 ASX 200 large-cap shares hitting multi-year highs today appeared first on The Motley Fool Australia.

As we went through this morning, it was an interesting set of earnings for investors to go through. The diversified miner reported US$2.81 billion in revenue from continuing operations for its first half of FY 2026, a 3% drop on the same period in FY 2025.

However, underlying earnings before interest, tax, depreciation and amortisation (EBITDA) rose 9% to US$1.11 billion. Profit after tax attributable to members came in at US$464 million, up an impressive 29%.

The market is reacting positively to what the company had to say today (thus far anyway). That's going off the fact that the South32 share price is currently (at the time of writing) up a healhty 1.2% to $4.64 a share.

But let's dig into the latest South32 dividend that has just been revealed.

South32 shares up as dividend hiked 15%

The rise in earnings and profits that the miner showed off this morning enabled South32 to declare an interim dividend of 3.9 US cents per share. This dividend will come with full franking credits attached, as is South32's habit. It represents a payout ratio of 40% of South32's underlying earnings, keeping with the company's dividend policy of paying out a minimum of 40% of its earnings as dividends.

We don't yet know what the final amount will be in Australian dollar terms. As of today's exchange rate, investors can pencil in about 5.5 cents per share in our local currency.

This latest interim dividend is a meaningful payout for shareholders, as it represents a hefty 14.71% hike over the interim dividend, worth 3.4 US cents per share, that investors bagged in 2025.

Together with last year's final dividend, worth 2.6 US cents per share, this 2026 interim dividend takes South32's 12-month payouts to 6.5 US cents per share.

Eligible shareholders will receive this interim dividend on 2 April. The ex-dividend date has been set for 5 March next month, though. If investors wish to receive this dividend from South32 but don't yet own shares, they will need to do so by 4 March. South32 is not running a dividend reinvestment plan (DRP) for this payout, though, so investors have no choice but to take the dividend as a cash payment.

South32 shares are currently trading on a trailing dividend yield of 2%.

The post Up 15%: Everything you need to know about the new South32 dividend appeared first on The Motley Fool Australia.