Energy prices and supply chain networks impact almost all corners of the global economy.

So it wasn't surprising to see a broad market sell-off over the first three weeks of March as multiple industries assessed the damage.

The sell-off now leaves room for investors to buy the dip.

A two-week ceasefire is underway amid hopes of a long-term deal between the US and Iran soon.

Brokers have reviewed their ratings after many shares fell, and they see good opportunities across a number of industries.

Here are some of the ASX All Ords shares elevated to strong buy consensus ratings after last month's turmoil.

6 ASX All Ords shares newly upgraded to strong buy ratings

These ASX shares have just been upgraded to strong buy consensus ratings among analysts on the CommSec platform.

A consensus rating represents the average rating among analysts.

Kingsgate Consolidated Ltd (ASX: KCN)

The Kingsgate Consolidated share price fell 38% in March alongside a big fall in the gold price.

In April so far, the ASX All Ords gold share is up 19% to $5.22 at yesterday's close.

MA Financial is among the brokers that have upgraded Kingsgate shares.

The broker also lifted its 12-month share price target from $6.85 to $6.95.

Pinnacle Investment Management Group Ltd (ASX: PNI)

The Pinnacle Investment Management share price fell 10% in March.

This month, the ASX All Ords financial shares is up 4% to $14.63.

Canaccord Genuity is buy-rated on Pinnacle shares with a $24.53 target.

Zip Co Ltd (ASX: ZIP)

The Zip share price fell 19% in March.

This month, the ASX All Ords financial share is up 19% to $1.84.

Blackwattle holds Zip shares in its Small Cap Quality Fund.

Portfolio managers Robert Hawkesford and Daniel Broeren describe Zip as 'one of the most compelling value opportunities on the ASX'.

WA1 Resources Ltd (ASX: WA1)

The WA1 Resources share price fell 20% in March.

This month, the ASX All Ords copper share is up 9% to $15.19.

Canaccord Genuity is buy-rated on WA1 Resources shares with a $32 target.

Macquarie Technology Group Ltd (ASX: MAQ)

The Macquarie Technology share price fell 12% in March.

In April so far, the ASX All Ords tech share is up 12% to $66.60.

Canaccord Genuity is also buy-rated on this stock with a $95 target.

Santana Minerals Ltd (ASX: SMI)

The Santana Minerals share price fell 27% in March.

This month, the ASX All Ords gold share is up 2% to 68 cents.

Shaw & Partners has a buy rating and a $2.15 target on Santana Minerals shares.

Further reading

Check out 7 ASX 200 shares just upgraded to strong buy ratings, too.

The post 6 ASX All Ords shares elevated to strong buy status after March sell-off appeared first on The Motley Fool Australia.

But that doesn't mean the gains are over. In fact, Bell Potter believes one ASX gold stock could jump almost 90% from where it trades today.

Which ASX gold stock?

The gold stock that Bell Potter is bullish on is Santana Minerals Ltd (ASX: SMI).

It is a New Zealand-based gold explorer and developer focused on the Bendigo-Ophir Gold Project (BOGP) near Queenstown in New Zealand.

This project is 90km northwest of OceanaGold's world-class Macraes Gold Mine, which is New Zealand's largest active producing gold mine.

What is the broker saying?

Bell Potter notes that the ASX gold stock has raised funds to support the development of the BOGP. It said:

SMI has completed the first tranche of a $130m institutional share placement, with a retail Share Purchase Plan (SPP) targeting to raise up to a further A$30m. […] The funds raised are expected to meet SMI's equity finance component of construction and pre-strip phases of the development of its 100%-owned Bendigo Ophir Gold Project (BOGP) in New Zealand.

Specifically, this includes commencement of early infrastructure civil works, further exploration of high-priority, near-mine and regional targets and the procurement of long-lead plant and infrastructure items. The funding will accelerate the project development timeframe and enable an immediate start on the receipt of final project consents, with the Fast Track Approval decision due on 29 October, 2026.

Bell Potter believes this is a strong endorsement and de-risks things materially. It adds:

This is a strong endorsement of SMI management and the BOGP. Assuming a fully subscribed SPP ($30m) and Tranche 2 ($17m) being approved, SMI will hold cash of ~$240m following the placement. Pre-production CAPEX for the BOGP is A$277m (incl. 10% contingency) as per the July 2025 Pre-Feasibility Study (PFS) update. We anticipate the BOGP easily supporting debt financing of 60% (A$170m), thereby positioning SMI as fully funded with this equity placement.

We view the de-risking of the equity portion of project funding as an excellent outcome for SMI, seven months ahead of the scheduled FTA decision. With this update we have also incorporated our latest gold price forecasts, an allowance for freehold land acquisitions and associated reduced royalty rates. These changes drive a net increase to our valuation for SMI, with the biggest driver being our updated gold price forecasts.

Big potential returns

According to the note, the broker has retained its speculative buy rating on the ASX gold stock with an improved price target of $1.70 (from $1.50).

Based on its current share price of 91 cents, this implies potential upside of 87% for investors over the next 12 months.

Commenting on its buy recommendation, Bell Potter said:

SMI is well funded and has successfully submitted its FTA development application for the BOGP, for which a decision is due on 29 October 2026. The BOGP is one of the most advanced and highest margin greenfield gold projects on the ASX. Our valuation is increased by 13%, to a rounded $1.70/sh. We retain our Speculative Buy recommendation.

The post Why this ASX gold stock could jump almost 90% appeared first on The Motley Fool Australia.

So far this year, ASX mining shares have continued to outperform after an exceptionally strong run in 2025.

The Metal & Mining Index is up 13.9% in the year to date (YTD) while the broader S&P/ASX 300 Index (ASX: XKO) is up 2.7%.

Here are three ASX mining shares that the experts think will rise strongly over the next 12 months.

WA1 Resources Ltd (ASX: WA1)

This ASX copper mining share is $16.73 apiece, up 2.3% today.

WA1 Resources shares are down 12.9% in the YTD and up 25% over the past 12 months.

Copper is in high demand for all the new infrastructure required for the green energy transition and artificial intelligence (AI) revolution.

It's also attractive to investors seeking hard assets in today's growing debasement trade.

The copper price hit a new record above US$6 per pound earlier this year, and is currently up 24.5% over the past 12 months.

Canaccord Genuity has a buy rating on WA1 Resources shares.

The broker lifted its 12-month share price target from $28 to $32 apiece this month.

This implies a 91% potential upside over the next 12 months on the ASX copper mining share.

Check out Goldman Sachs' 2026 forecast for the copper price here.

Santana Minerals Ltd (ASX: SMI)

The Santana Minerals share price is 90 cents, down 4.3% today and up 58% over the past 12 months.

Santana Minerals is developing the Bendigo-Ophir Gold Project (BOGP) on the South Island of New Zealand.

Shaw & Partners has a buy rating and a 12-month share price target of $2.15 on this ASX gold mining share.

This suggests a possible near-140% capital gain over the next year.

In a recent note, the broker said:

Santana Minerals Limited (ASX:SMI) has announced that the Fast-Track Approval (FTA) Panel Convener has confirmed a 140 working-day statutory timeframe for determination of the Bendigo-Ophir Gold Project (BOGP), with a decision due by 29 October 2026.

The timeline is longer than expected (60-100 days) but now provides certainty in the process.

Development consent is now expected to be granted in H2 CY26. 

Santana Minerals announced the completion of a $113 million institutional capital raise today.

The funds will be used to accelerate the mine's development in preparation for a Final Investment Decision (FID).

The miner will seek to raise up to another $30 million from ordinary investors via a Share Purchase Plan.

Check out some 2026 gold price forecasts here.

Catalyst Metals Ltd (ASX: CYL)

This ASX gold mining share is $8.13 apiece, down 1.8% today.

Catalyst Metals shares are up 10.2% in the YTD and up 108% over the past 12 months.

Catalyst Metals owns the Plutonic gold mine in Western Australia and the Bendigo exploration project in Victoria.

In its 2Q FY26 update, Catalyst Metals announced record quarterly gold production of 28,176 ounces at Plutonic.

The average realised price was A$2,776 per ounce, and the average all-in sustaining cost (AISC) was A$2,565 per ounce.

Bell Potter has a buy rating on the ASX gold mining share and a price target of $14.60.

This implies an 80% potential upside over the next 12 months.

The post 3 ASX mining shares tipped to rise 80% to 140% this year appeared first on The Motley Fool Australia.

At the time of writing, the Santana share price is down 12.18% to 86.5 cents. By comparison, the All Ordinaries Index (ASX: XAO) is up 0.3%.

The stock was halted from yesterday until late morning today while the company prepared its update. It is now down around 20% so far this year.

Here is what investors need to know.

$130 million raising to fund gold project

According to its latest release, Santana has secured commitments to raise $130 million from institutional and sophisticated investors.

The company plans to issue approximately 144.4 million new shares at 90 cents each. That price represents a 9.5% discount to where the shares were trading before the halt. Part of the placement will be subject to shareholder approval at an upcoming meeting.

In addition, Santana intends to launch a share purchase plan. This will allow eligible shareholders in Australia and New Zealand to apply for new shares at the same 90 cent price.

Where the money will go

The funds are aimed at accelerating development of Santana's Bendigo Ophir Gold Project in New Zealand.

Management said the capital will be used to:

• Progress the project toward a final investment decision (FID)

• Begin early infrastructure and civil works

• Purchase long lead items

• Continue exploration around high priority targets

The company recently secured a long-term mining permit for the project, which was a major milestone. It is also working through environmental and regulatory approvals needed before construction can begin.

Why the share price is tanking

Large capital raisings often lead to share price weakness in the short-term. This is because new shares increase the total number on issue, which can dilute existing shareholders.

In this case, investors may also be weighing up the significant funding still required to build the project. While today's raising strengthens the balance sheet, developing a gold mine requires substantial capital and carries execution risk.

That said, the Bendigo Ophir project is considered one of the largest undeveloped gold discoveries in New Zealand in recent decades. If successfully developed, it could become a meaningful long-life operation.

However, the market appears focused on dilution and funding risk. Longer term, the key will be whether Santana can move from explorer to producer and deliver on its development plans.

Shareholders will need to watch closely for further updates on approvals, costs, and timing as 2026 progresses.

The post Santana share price back in trade and down 12%. Here's what just happened appeared first on The Motley Fool Australia.

Four ASX shares that have failed to follow the market higher today are listed below. Here's why they are falling:

Reliance Worldwide Corporation Ltd (ASX: RWC)

The Reliance Worldwide share price is down 8% to $3.54. This morning, this plumbing parts company released its half-year results and reported a 4.6% decline in revenue to US$645.4 million and a 34.9% decline in reported net profit after tax to US$43.7 million. Reliance revealed that it was impacted by increased US tariffs and weaker demand in the US and UK. Net sales in the Americas dropped by 7.2% and EMEA (Europe, Middle East and Africa) sales rose by 2.4%.

Santana Minerals Ltd (ASX: SMI)

The Santana Minerals share price is down 12% to 86.5 cents. This has been driven by news that the gold developer has received firm commitments from institutional and sophisticated investors to raise $130 million. These funds are being raised via a placement of approximately 144.4 million shares at 90 cents per new share. Commenting on the news, Santana Minerals' executive director and CEO, Damian Spring, said: "This is a strong show of support for Santana and its proposed development of the Bendigo-Ophir Gold Project. This placement essentially fills the equity component of funding for the development with discussions on the remaining debt funding advancing well."

Sims Ltd (ASX: SGM)

The Sims share price is down 5% to $20.26. This follows the release of the scrap metal company's half-year results. Sims reported a disappointing loss of $29.9 million for the half. This includes unrealised losses on derivative contracts as at the reporting date, together with a further sizeable, expected credit loss on the residual receivable from Unimetals in the UK. Despite this, the company still increased its interim dividend by 40% to 14 cents per share.

Treasury Wine Estates Ltd (ASX: TWE)

The Treasury Wine share price is down a further 5% to $4.72. Investors have been selling this wine giant's shares this week in response to the release of its half-year results. It was a tough half for Treasury Wine, with profit falling materially from the prior corresponding period. This led to the Penfolds owner suspending its dividend. The company's CEO, Sam Fischer, said: "Today's results come at a time when we are already making meaningful progress with the decisive actions required to return TWE to a path of sustainable, profitable growth. Our focus is firmly on the future to strengthen execution and ensure we build a stronger, more resilient business for the long term."

The post Why Reliance, Santana Minerals, Sims, and Treasury Wine shares are falling today appeared first on The Motley Fool Australia.

Mining shares are in the midst of a great run, with the XMM Index rising 42.5% over the past 12 months.

If you're looking for investment inspiration, here are two ASX mining stocks with buy ratings from the experts.

Santana Minerals Ltd (ASX: SMI)

The Santana Minerals share price is steady at 99 cents today, but is up 67% over the past 12 months.

Santana Minerals owns the large-scale, long-life Bendigo-Ophir Gold Project (BOGP) on the South Island of New Zealand.

Shaw & Partners has a buy rating and a 12-month share price target of $2.15 on this ASX gold share.

This suggests a possible near-120% capital gain over the next year.

The broker said:

Santana Minerals Limited (ASX:SMI) has announced that the Fast-Track Approval (FTA) Panel Convener has confirmed a 140 working-day statutory timeframe for determination of the Bendigo-Ophir Gold Project (BOGP), with a decision due by 29 October 2026.

The timeline is longer than expected (60-100 days) but now provides certainty in the process.

Development consent is now expected to be granted in H2 CY26. 

BOGP's tenements cover 251 sq km in the Central Otago goldfields, 90 km northwest of OceanaGold's renowned Macraes gold mine.

Shaw & Partners said the current development plan has an initial mine life of about 14 years.

A reserve of 1.2Moz at 2.6g/t Au is contained within a resource of 2.3Moz at 2.1g/t Au. 

Production expectations are about 120koz per year.

Canaccord Genuity is also buy-rated on this ASX mining stock with a 12-month price target of $2.30.

RBC Capital also rates Santana Minerals shares a buy, but it has a much more conservative price target of $1.20.

Nexgen Energy (Canada) CDI (ASX: NXG)

This ASX uranium mining stock is $16.27, up 1.4% today and up 68% over the past year.

Nexgen's flagship project, Rook I, is the largest development-stage uranium project in Canada.

The company hopes to turn Rook I into the largest, low-cost uranium mine in the world.

Bell Potter has a buy rating on this ASX mining stock.

Last month, the broker raised its 12-month share price target for Nexgen from $13.05 to $19.30.

This suggests a near-20% potential upside over the next year.

Stuart Bromley from Medallion Financial Group also has a buy rating on Nexgen shares.

Bromley said:

NexGen continues its journey to become a long life and low cost uranium producer in mining friendly Canada, a geopolitically stable country.

The company recently revealed the Patterson Corridor East discovery is expanding rapidly on multiple fronts.

Vertical and lateral growth materially increases the mineralised footprint and leaves potential additional discoveries open at depth and along strike — precisely what the market wants from a basin-scale uranium play.

The post 2 ASX mining stocks with buy ratings appeared first on The Motley Fool Australia.

Santana's flagship asset is the Bendigo-Ophir gold project in the Otago region of New Zealand, for which the company released a prefeasibility study last year.

Key milestone ticked off

The company said in a statement to the ASX this week that it had reached a key milestone in the Fast-Track Approvals Act (FTA) process for the project, which had set a timeline for the government to assess it.

As the company said:

The Panel Convener has used her discretion under the FTA and confirmed a 140 working-day statutory timeframe for determination of the Bendigo-Ophir Gold Project, with a decision due by 29 October 2026. In setting this timeframe, the Convener emphasised a process designed to be efficient, proportionate and outcome-focused, enabling the Expert Panel to regulate its own procedures in a practical manner that supports a fair, well-tested and timely decision and avoid unnecessary procedural formality. The approach allows the participants to use expert conferencing to efficiently resolve issues, and narrow points of contention.

Santana Chief Executive Damian Spring said the company now had a firm timeline "for what we believe will mark the commencement of development for a project of national and regional significance''.

He added:

While the timeframe is longer than we had hoped, we appreciate the additional diligence to support the consenting of this nationally significant project. The appointment of an experienced Panel and confirmation of a clear statutory timetable provides important process certainty.

Shares looking cheap

Shaw and Partners said in a note to clients that it was a welcome development for the project.

They said regarding the project:

Santana is one of a handful of companies globally to boast a +2Moz at +2g/t predominantly open pit resource. The recent land acquisition has materially derisked the project positioning the company in our opinion as 'shovel ready'. We maintain our positive view on gold with Santana being one of our preferred developer exposures, reiterate a buy recommendation.

Shaw recently raised its price target for the company's shares from $1.63 to $2.15, representing a 121.6% return if achieved.

The shares have more than doubled over the past 12 months, from lows of 39.7 cents to 97 cents on Friday.

The company was valued at $849.3 million at the close of trade on Thursday.

The post Up more than 100% in a year, this gold stock could double again one broker says appeared first on The Motley Fool Australia.

Four ASX shares that have failed to follow the market higher today are listed below. Here's why they are falling:

DroneShield Ltd (ASX: DRO)

The DroneShield share price is down 5.5% to $4.22. This follows the release of the counter-drone technology company's shares following the release of its fourth quarter and full year update. DroneShield reported revenue of $51.3 million for the fourth quarter, which was a 94% increase on the prior corresponding period. This brought its total revenue for FY 2025 to $216.5 million, which is an increase of 277% on last year's revenue of $57.5 million. It was also ahead of Bell Potter's estimate of $210 million. Today's weakness could have been driven by another announcement which revealed that 9.2 million options have vested for employees after it hit its $200 million cash receipts goal. Last time options were vested there was a big selloff.

Life360 Inc (ASX: 360)

The Life360 share price is down 8% to $31.13. This appears to have been driven by profit-taking from investors after a very strong gain on Friday. Investors were buying its shares after it released a very strong fourth quarter update. Life360 reported monthly active users (MAU) of 95.8 million, which is up 20% year on year. This comprises US MAU of 50.6 million and international MAU of 45.3 million. Another positive was that its Paying Circles (paid users) grew 576,000 to 2.8 million. This was the largest annual net addition on record. Management also upgraded its FY 2025 revenue guidance. It is now expected to be between US$486 million and US$489 million, which represents a year on year increase of 31% to 32%.

Nova Minerals Ltd (ASX: NVA)

The Nova Minerals share price is down 8% to $1.18. Investors have been selling the gold and antimony explorer's shares following the release of its quarterly update. Commenting on the quarter, Nova's CEO, Christopher Gerteisen, said: "The December quarter was marked by the award of US$43.4 million in non-dilutive funding from the U.S. Department of War, which fully funds the development of stage 1 antimony production at Estelle, which will feed into the U.S. supply chain. This support enables us to accelerate our strategy to become a fully integrated U.S. producer of military-grade antimony."

Santana Minerals Ltd (ASX: SMI)

The Santana Minerals share price is down 8% to $1.07. This follows the release of the gold developer's quarterly update. Santana Minerals revealed a cash outflow of approximately $10 million for the three months. This reduced its cash balance from approximately $100 million to approximately $90 million.

The post Why DroneShield, Life360, Nova Minerals, and Santana shares are falling today appeared first on The Motley Fool Australia.

But the aspiring gold producer is starting to turn heads thanks to its Bendigo-Ophir gold project in New Zealand.

In essence, the project hosts a resource base containing more than 2.3 million ounces of gold scattered across four deposits.

However, the jewel in the crown is the flagship Rise and Shine (RAS) deposit with nearly 2.1 million ounces of gold.

Santana plans to build a mine Rise and Shine and become a significant ASX gold producer.

The ASX mining stock has already outlined a robust economic profile for a potential gold mine.

Here, an economic evaluation envisaged 1.25 million ounces of total gold sales from an initial mine life of 13.8 years.

However, today's "exceptional" drilling results from Rise and Shine could give the project another shot in the arm.

What happened?

The ASX mining stock has been conducting drilling to test for northern extensions of Rise and Shine.

And today's results returned "outstanding" high-grade intercepts, confirming the continuation of the high-grade core of the deposit known as the HG1 domain.

Notably, one hole named MDD487 returned a "bonanza" result of 8.7 metres grading 30.6 grams per tonne gold.

This intercept ranks amongst the top ten holes drilled to date at Rise and Shine. It includes consistent grades above 15g/t gold, with two assays exceeding 100g/t gold.

Management noted that this intercept highlights the strength of the HG1 domain when compared with the broader mineralised system.

Other significant hits from the drilling include 27.6m at 3.5g/t gold and 12.6m at 4.2g/t gold.

Management believes these results point to the potential for a larger underground operation than previously envisaged.

Santana Minerals chief executive officer, Damian Spring, commented:

Today's results reinforce the continuity of high-grade mineralisation within the HG1 zone. The MDD487 interval returned a pre-top-cut grade of 40.2g/t, highlighting the strength of the system even before standard capping is applied. Intervals of this calibre, repeatedly observed across RAS, continue to strengthen our confidence in the geological model and the consistency of the high-grade domains.

Share price in focus

Despite the upbeat news, shares in the ASX mining stock have seen little movement in today's session.

More specifically, its shares are changing hands at $0.81 each at the time of writing, down by 0.6% from yesterday's close.

That said, Santana investors have enjoyed a fruitful year in 2025, with the company's shares rocketing by 76% since the start of January.

This performance has far outpaced the broader market, with the S&P/ASX All Ordinaries Index (ASX: XAO) up by 5% during the same period.

The post Up 76% in less than a year and this ASX mining stock just revealed some "exceptional" gold news appeared first on The Motley Fool Australia.

Fellow industry leaders Northern Star Resources Ltd (ASX: NST) and Evolution Mining Ltd (ASX: EVN) are also household names in the booming gold sector.

These gold mining titans have been riding the gravy train as the price of the metal surged to record highs in 2025.

As things stand, the gold price has rocketed by more than 50% since early January to about US$4,000 per ounce.

In turn, Newmont and Evolution shares have more than doubled since the start of the year, with Northern Star shares also rising by 58% during the same time.

However, the biggest ASX 200 gold miners are not the only ones cashing in.

A wave of smaller mineral exploration stocks and development companies are also benefiting from a strong pricing environment.

For instance, Santana Minerals Ltd (ASX: SMI) is one lesser-known contender that is starting to shine bright.

Shares in the company have already ballooned by 78% since the start of the year as it looks to build a mine at its Bendigo-Ophir gold project in New Zealand.

And big news this week has brought this goal significantly closer.

Robust economics

The Bendigo-Ophir gold project is situated on the South Island of New Zealand.

Its total resource base contains more than 2.3 million ounces of gold scattered across four deposits.

However, the jewel in the crown is the flagship Rise and Shine deposit with nearly 2.1 million ounces of gold.

A recent economic evaluation gauging the merits of bringing Rise and Shine to production painted a compelling picture on the project's potential.

The study envisaged 1.25 million ounces of total gold sales from an initial mine life of 13.8 years.

In total, it forecast revenue of US$4.3 billion and operating earnings (EBITDA) of US$2.9 billion when using a gold price of US$3,450 per ounce.

The study also estimated a modest all-in sustaining cost (AISC) of US$1,207 per ounce and a payback period of only 1.6 years.

So what?

Management believes that Rise and Shine represents the most significant gold discovery in New Zealand in more than 40 years.

The company plans to commence construction works in the second quarter of next year, with first gold production targeted for 2027.

However, for Santana to mine gold at Bendigo-Ophir it first needs formal approval from the New Zealand government.

And just this week the company nailed down a key piece of regulatory consent.

What happened?

On Wednesday, New Zealand Petroleum & Minerals (NZPAM) formally granted a mining permit for Bendigo-Ophir for a period of thirty years.

This regulatory green light now provides Santana with a legal right to extract gold from Rise and Shine and adjacent deposits within its Bendigo-Ophir tenure.

Notably, the mining permit represents one of the two key approvals required to commence construction at the project.

The other is known as the Fast-track Approvals Act (FTA) consents, which is focused on environmental and land-use factors.

The FTA application includes a series of reports and mitigation packages designed to ensure the project exceeds legal and environmental performance requirements.

Santana submitted its FTA assessment earlier this week.

Santana chief executive officer, Damian Spring, commented:

The granting of the Mining Permit by NZPAM is a landmark achievement for Santana and a strong vote of confidence in the quality and integrity of the Bendigo-Ophir Gold Project. It's the direct result of years of geological and technical work carried out under the Crown Minerals Act framework. Coming in the same week that we lodged our FTA consent application, this milestone demonstrates the Project's regional and national significance.

The post Up 78% this year! Could this little-known ASX mining stock be the next big gold producer? appeared first on The Motley Fool Australia.

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

Bank of Queensland Ltd (ASX: BOQ)

The Bank of Queensland share price is up almost 2% to $7.25. This follows the release of the regional bank's full year results this morning. Bank of Queensland reported a 12% increase in cash earnings to $383 million for the 12 months. This was driven by improved margins, good cost control, and growth in commercial lending. This allowed the Bank of Queensland board to increase its fully franked final dividend by approximately 18% to 20 cents per share, which took its total dividends for FY 2025 to 38 cents per share.

Jumbo Interactive Ltd (ASX: JIN)

The Jumbo Interactive share price is up 9.5% to $10.73. Investors have been buying this online lottery ticket seller's shares after it announced a major acquisition. Jumbo has agreed to pay a total of $110 million to acquire UK-based Dream Car Giveaways. It is a leading business-to-consumer (B2C) brand and digital market proposition in the UK prize draw market. It allows customers to win prizes, such as cars, cash, property, and lifestyle products. Jumbo's CEO, Mike Veverka said: "Jumbo's two decades of B2C success in Australia and its world-class software, marketing, and customer management expertise, provides DCG with the foundation to continue its already impressive growth."

Santana Minerals Ltd (ASX: SMI)

The Santana Minerals share price is up over 4% to 86 cents. This has been driven by the release of assay results from the gold developer's ongoing drilling programme at RAS North. Management notes that the results continue to demonstrate strong grade continuity within the HG1 domain. It said: "Recent results from the RINA (RAS-is-Not-Alone) sterilisation drill programme provide further information on the Rise and Shine Shear Zone (RSSZ), confirming it as a fertile, camp-scale gold system that remains largely untested outside the known deposits."

Telix Pharmaceuticals Ltd (ASX: TLX)

The Telix Pharmaceuticals share price is up 14% to $16.37. Investors have been buying the radiopharmaceuticals company's shares following the release of its third quarter update. Telix reported a 53% jump in revenue to US$206 million for the three months. This appears to have been stronger than management was expecting, which has led to it lifting its guidance for the full year. Telix is now expecting revenue of US$800 million to US$820 million. This compares to its previous guidance range of US$770 million to US$800 million. Telix CEO, Dr Christian Behrenbruch, said: "We believe this is a solid result, particularly in light of the reimbursement dynamics during the quarter. Moreover, a 3% increase in dose volumes suggests competitive pricing pressures are beginning to stabilize."

The post Why Bank of Queensland, Jumbo, Santana Minerals, and Telix shares are charging higher today appeared first on The Motley Fool Australia.

The company told the ASX on Monday that step-out drilling at the project, which has a previously released mineral resource estimate of 2.2 million ounces of gold at 2.2 grams per tonne (g/t), "continues to extend the high-grade core and further enhance the opportunity to upgrade Inferred resources to the Indicated category''.

Brokers see more upside

The news sent the company's shares 2.1% higher to 72.5 cents, but analysts at RBC Capital Markets believe there are a number of triggers that could put a tailwind behind the stock in the coming months.

Positive drill results for Santana announced today … improve confidence and have the ability to extend mine life and bring forward cheap ounces. As a result we expect Santana Minerals to trade up on the back of the announcement. However, we still expect the two major catalysts in the near term for Santana are 1) the Fast Track submission (of the mining proposal), and 2) its approval six months later, which we believe will coincide with Santana's Final Investment Decision and equity raise for the project. We maintain our Outperform recommendation with a price target of 80c per share.

Fellow broker Bell Potter has a speculative buy recommendation on the company with a price target of $1.30. 

The drill results released on Monday included 20m at 8.2g/t of gold from a depth of 396m and 8.6m at 4.6g/t from 283.5m.

More good news to come

Santana chief executive Damian Spring said the high-grade core was now delineated to 270m beyond the planned underground mine designs presented in the July 2025 prefeasibility study update.

It's certainly not stopping! We are only at about 250m vertical depth from the portal which is shallow by any modern underground mine standards and we are excited as we look to make bigger step outs with our drilling to test the larger potential of the system.

Drilling is continuing at the Rise and Shine project.

The post Why this gold stock is trading higher appeared first on The Motley Fool Australia.

These stocks come with big upside. Many of the large-cap stocks today started their ASX life as a small-cap many years ago. 

One example is CSL Ltd (ASX: CSL). This stock was worth $5 a share back in the early 2000s, and now trades for around $270.00 per share. 

However, with this upside also comes heightened risk.

Small-cap stocks often carry elevated risk because many are in early growth or development stages and may not yet be generating consistent profits, meaning their valuations rely heavily on future earnings that may never materialise.

With that risk in mind, here are 2 ASX small-cap stocks with growth potential. 

Santana Minerals Ltd (ASX: SMI)

Santana Minerals is focused on precious metal exploration focusing on the Bendigo-Ophir Project in New Zealand. Its projects include the Cuitaboca Project in Mexico and Cambodian Project. It has two operating segments Mexico and New Zealand.

This small-cap stock has already risen by more than 30% YTD. 

SMI recently released an updated Pre-Feasibility Study for its 100%-owned Bendigo-Ophir Gold Project in New Zealand, based on a new resource and higher-grade reserve. 

Broker Bell Potter said fast track approvals legislation in NZ could see the project fully permitted by end-CY25.

We still see the best value opportunities in the developers and explorers.

SMI have clear pathways through permitting and towards production. In a very active M&A market they also present as attractive targets for cashed up producers with well-priced equity looking to grow their production bases.

Based on this information, the broker has a speculative buy recommendation on the company with a price target of $1.30. 

This would mean the share price is set to double from its current price of $0.605. 

SiteMinder Ltd (ASX: SDR)

SiteMinder is a technology company that provides an e-commerce platform for hotels and other accommodation businesses. The company touts its product as helping hotels to sell, market, manage, and grow their businesses from one platform.

SiteMinder offers integrations with hotel property management systems and third parties such as online travel agencies, tour operators, and global travel distributors.

The company continues to invest in user-friendly features for its growing subscriber base. 

Its share price has fallen more than 12% since January, and I believe it's now a value. 

Broker Bell Potter agrees, placing a "buy" recommendation and price target of $6.05 on the stock.

This indicates more than 16% upside from here. 

The broker believes the company has a narrow-moat but is a future category leader in hotel e-commerce software. The broker also said this isn't reflected in the current share price. 

Macquarie also has an attractive price target of $6.09 on SiteMinder shares, saying last month that rapid growth could come in the short term. 

The post 2 ASX small-cap stocks to buy with big growth potential appeared first on The Motley Fool Australia.

Four ASX shares that have failed to follow the market higher today are listed below. Here's why they are falling:

AMP Ltd (ASX: AMP)

The AMP share price is down almost 7% to $1.75. This is despite there being no news out of the financial services company on Monday. Though, at the end of last week, Macquarie put a neutral rating and $1.70 price target on its shares after it fell short of its expectations during the first half.

Iress Ltd (ASX: IRE)

The Iress share price is down 7% to $8.74. This follows the release of the financial technology company's half year results. Iress reported a 3.1% decline in total revenue to $299.5 million and a 3.9% fall in adjusted EBITDA to $64.4 million. However, things were better on a continuing basis, with adjusted EBITDA lifting 8.7% to $60.2 million. Iress CEO, Marcus Price, said: "Iress' continuing business has delivered a strong performance in the first half, underpinned by solid revenue growth in our Global Trading & Market Data business and continuing positive momentum in our UK wealth business. These results reflect the strength of our core businesses of trading and wealth."

JB Hi-Fi Ltd (ASX: JBH)

The JB Hi-Fi share price is down 8% to $108.27. Investors have been selling this retail giant's shares after its strong FY 2025 result was overshadowed by news that its CEO, Terry Smart, is stepping down. Commenting on the result, Grady Wulff, Senior Market Analyst at Bell Direct, told The Motley Fool Australia: "Overall, JBH results were again very strong, demonstrating its leadership position among the Australian retail landscape, while also benefiting from the tailwinds of the AI revolution. Unfortunately, today, the results are being overshadowed by the surprise exit of the company's current CEO without a clear reason for his departure."

Santana Minerals Ltd (ASX: SMI)

The Santana Minerals share price is down 3% to 61.2 cents. This follows the completion of the gold developer's capital raising this morning. Santana Minerals is raising $60 million at a discount of $0.58 per new share. The proceeds will be used partly to accelerate the development of the Bendigo-Ophir Gold Project in preparation for a subsequent final investment decision. The company's CEO, Damian Spring, said: "The support and interest in the Bendigo Ophir Gold Project endorses its significance and it is pleasing that a New Zealand resource project can once again, attract significant investment capital for projects than can assist in the rebuild of the Country's economic base."

The post Why AMP, Iress, JB Hi-Fi, and Santana Minerals shares are falling today appeared first on The Motley Fool Australia.

Four ASX shares that have failed to follow the market higher today are listed below. Here's why they are falling:

29Metals Ltd (ASX: 29M)

The 29Metals share price is down 7% to 32 cents. Investors have been selling this copper miner's shares following the release of its quarterly update. The company reported copper production of 5.6kt at Golden Grove, which was a sizeable increase on the 4.1kt reported in the previous quarter. However, increasing at an even greater rate was its C1 costs, which ballooned to US$2.09 per pound from just 76 US cents per pound in the last quarter.

CAR Group Limited (ASX: CAR)

The CAR Group share price is down 2% to $36.75. This auto listings company's shares have come under pressure today after announcing the exit of its long-serving CEO. According to the release, Cameron McIntyre is stepping down as managing director and CEO after 18 years with the company. The carsales.com.au owner revealed that William Elliott, its current chief financial officer, will replace McIntyre from 15 August 2025. Commenting on his exit, McIntyre said: "As CEO, the past nine years have been the highlight of my career. From the very beginning, I have been inspired by the passion, resilience, and innovation of our team. Together, we have navigated both challenges and opportunities, consistently striving to push the boundaries of excellence in our industry."

DroneShield Ltd (ASX: DRO)

The DroneShield share price is down almost 10% to $3.48. This is despite there being no news out of the counter drone technology company. However, today's decline is highly likely to be down to profit taking from some investors after sensational gains in recent weeks. For example, even after today's heavy decline, DroneShield shares are up approximately 85% since this time last month. This has been driven by a series of major announcements revealing big contract wins and investments in its R&D capabilities.

Santana Minerals Ltd (ASX: SMI)

The Santana Minerals share price is down 4% to 59 cents. This gold developer's shares are under pressure today following the release of a drilling update from the Rise and Shine (RAS) deposit. The company said: "These holes are the first from a broader programme aimed at upgrading the sparsely drilled Inferred resource down plunge to the north. Results show thick, high-grade zones with infills enhancing the consistency and tenor of the 'HG1' high-grade domain." It seems that some investors were expecting even more from the drilling results.

The post Why 29Metals, CAR Group, DroneShield, and Santana Minerals shares are falling today appeared first on The Motley Fool Australia.

That's because the team at Bell Potter believes it could more than double in value over the next 12 months.

Which ASX gold stock?

The gold stock that is being tipped as a buy by analysts at Bell Potter is Santana Minerals Ltd (ASX: SMI).

It is a gold explorer and developer, focused on the Bendigo-Ophir Gold Project (BOGP) in New Zealand.

The project covers 251km2 in the Central Otago goldfields, 90km northwest of OceanaGold's world-class Macraes Gold Mine, which is New Zealand's largest active producing gold mine.

Bell Potter highlights that the ASX gold stock has released an updated Pre-Feasibility Study (PFS) for the Bendigo-Ophir Gold Project. It said:

SMI calculates an NPV of A$1.5 billion at a gold price of A$4,950/oz, IRR of 65% and payback period of 1.7 years. SMI expects to submit its Fast-Track Approval in the current quarter, anticipating a permitting decision within six months of submission.

While its all-in sustaining cost (AISC) is expected to be higher than previous estimates, the broker highlights that this is immaterial in the grand scheme of things. It adds:

Compared with the PFS of November 2024 pre-production CAPEX is reduced from A$340m to A$277m on reduced pre-strip volumes and a smaller process plant. These benefits are offset by higher AISC and lower gold production rates, which lower our unrisked valuation by 5-10%.

However, this is relatively immaterial in the context of a predevelopment mining project and sits within the margin of error of the PFS. In our view, our reduced project valuation is more than offset by a lower funding requirement, reduced financial risk and benefits to practical aspects of operating the project. Financial metrics remain compelling and among the most attractive in the sector.

Big return potential

In response to the updated PFS, Bell Potter has retained its speculative buy rating on the ASX gold stock with a $1.18 price target.

Based on its current share price of 54 cents, this implies potential upside of almost 120% for investors over the next 12 months. It concludes:

SMI held cash of $55m at end March 2025 and has achieved a major milestone with the completion of the updated PFS. It is well placed to complete its Fast Track application, commence early site works in 2HCY25, make a Final Investment Decision in early CY26 and commence construction in 1HCY26. It remains one of the nearest term, new gold development projects on the ASX. Our valuation is lowered to $1.18/sh and we retain our Speculative Buy recommendation.

The post Top broker says this ASX gold stock could double in value appeared first on The Motley Fool Australia.

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

DroneShield Ltd (ASX: DRO)

The DroneShield share price is up over 4% to $2.38. On Monday, this counter drone technology company announced three standalone contracts for its handheld and on the move counter drone systems. The contracts are worth a total of $9.7 million and were from a reseller distributing the systems to a defence end customer in a Latin American (LATAM) country. DroneShield's CEO, Oleg Vornik, said: "In 2025, DroneShield has successfully delivered products, capability, and training into the Latin American market. With a substantial pipeline, diversified over multiple countries and customers, DroneShield is anticipating further developments in 2025 in this region."

Medibank Private Ltd (ASX: MPL)

The Medibank Private share price is up 4% to $5.25. This appears to have been driven by a broker note out of Morgan Stanley this morning. According to the note, the broker has upgraded the private health insurer's shares to an overweight rating with an improved price target of $5.57. Morgan Stanley believes that Medibank is well-placed to deliver a strong result in FY 2025. It notes that hospital claims are lower than expected, which should be good news for its margins.

Orthocell Ltd (ASX: OCC)

The Orthocell share price is up 6% to $1.24. Investors have been buying this regenerative medicine company's shares after it reported record quarterly revenue. Orthocell posted a 22.8% increase in revenue to a record of $2.73 million for the fourth quarter. Importantly, this doesn't include any sales in the US market, which has just approved its Remplir product. Remplir is a collagen wrap used in nerve repair surgery to assist surgeons to improve outcomes in the repair and regeneration of damaged nerves.

Santana Minerals Ltd (ASX: SMI)

The Santana Minerals share price is up over 3% to 53.7 cents. The catalyst for this has been the release of the gold developer's updated pre-feasibility study for the Bendigo-Ophir project near Queenstown in New Zealand. The updated study estimates that it could generate profit before tax of A$3.5 billion at the current gold price or A$1.9 billion at base-case. The company also highlights that it has an "all-in-Sustaining Cost (AISC) of A$1,842/oz at current gold price (A$1,660/oz at base case)."

The post Why DroneShield, Medibank, Orthocell, and Santana Minerals shares are pushing higher appeared first on The Motley Fool Australia.

That's because they have been named as the best to buy for FY 2026 by analysts at Bell Potter. Here's what it is recommending to clients:

Minerals 260 Ltd (ASX: MI6)

This small cap ASX gold stock could be a buy in FY 2026. It is an exploration and development company that recently completed the transformational acquisition of the Bullabulling Gold Project (BGP) in Western Australia.

The broker is a big fan of BGP and sees potential for it to become a major low cost operation. It said:

With a Mineral Resource Estimate of 2.3Moz at 1.2g/t Au it is one of the largest undeveloped gold deposits in Australia, sits on granted Mining Leases and is in the heart of Australia's gold mining industry. The company is led by a proven team of project developers and operators and we see potential for a low cost, openpit gold mining operation producing 130-150kozpa over a 10-year mine life. The asset is also strategically attractive in a highly active gold asset M&A market and rising gold price environment.

Bell Potter has a speculative buy rating and 28 cents price target on its shares.

Santana Minerals Ltd (ASX: SMI)

Another ASX gold stock that makes the list is Santana Minerals. It is a gold explorer and developer focused on the Bendigo-Ophir Gold Project (BOGP) in New Zealand.

Bell Potter believes that BOGP is emerging as one of the most attractive gold development projects of this scale on the ASX. It said:

Bottom quartile costs, conventional mining and processing methods and an initial 10-year mine life on Reserves alone make it attractive for both debt and equity financing. An optimised PFS is expected to further improve its operating and financial metrics. It is well funded and about to commence seeking approvals through New Zealand's new Fast Track Approvals scheme. This could see the BOGP approved by end CY25.

The broker has a speculative buy rating and $1.30 price target on its shares.

Evolution Mining Ltd (ASX: EVN)

Finally, Bell Potter has named Evolution Mining on its best buy list for the new financial year.

Though, it is worth highlighting that the broker currently only has a hold rating on its shares with an $8.10 price target. It explains:

We have Hold ratings across much of our gold production coverage, but feel a producer should still be included in the current market. We select EVN on the basis of its unhedged exposure to the gold price, strengthening balance sheet, increasing free cash flows (has passed its CAPEX peak and, in our view, is an unlikely potential acquiror), undervalued copper production exposure and what we expect to be an increasing dividend stream in an elevated gold price environment.

A strong management team and track record of delivery to guidance make EVN one of the go-to gold exposures on the ASX – a position we believe is justified.

The post Bell Potter names the best ASX gold stocks to buy in FY26 appeared first on The Motley Fool Australia.

Four ASX shares that are rising more than most today are listed below. Here's why they are pushing higher:

DroneShield Ltd (ASX: DRO)

The DroneShield share price is up 4% to $1.20. Investors have been buying the counter drone technology company's shares following the release of its first quarter update. For the three months ended 31 March, DroneShield reported first quarter revenue of $33.5 million. This was up a sizeable 102% on the prior corresponding period. The company notes that this is now officially its strongest revenue quarter ever, overtaking its previous high of $27.7 million in the third quarter of FY 2023. Looking ahead, DroneShield is already sitting on $94.4 million of revenue either received or locked in via purchase orders for the 2025 financial year. This is well ahead of the $57.5 million achieved in all of FY 2024.

Kingsgate Consolidated Ltd (ASX: KCN)

The Kingsgate share price is up 4% to $1.74. This has been driven by another jump in the gold price overnight. The precious metal hit a new record high after US President Donald Trump pushed the US Federal Reserve to cut interest rates. Outside this, it is worth noting that Canaccord Genuity put a speculative buy rating and $4.00 price target on the company's shares this month. This is more than double its current share price.

Santana Minerals Ltd (ASX: SMI)

The Santana Minerals share price is up 3.5% to 59.5 cents. This morning, the gold miner released an update on its Pre-feasibility Study (PFS) for the Bendigo-Ophir Gold Project (BOGP). This relates to its focus on selective and manual pit designs on the Rise and Shine (RAS) deposit. Commenting on the update, Santana CEO, Damian Spring said: "This progressive step in finessing our initial PFS demonstrates the option to significantly reduce the pre-strip volume. Smarter pit staging clearly rebalances the waste removal equation in the initial stage and has the potential to re-shape the project's capital burden. Furthermore, it shouldn't be lost on the investor that the Australian dollar gold price has risen over 25% since the initial PFS which substantially enhances the robustness of the project."

Star Entertainment Group Ltd (ASX: SGR)

The Star share price is up 7% to 10.7 cents. This is despite there being no news out of the embattled casino operator. However, with its shares down 75% over the past 12 months, some brave investors may believe this has created a buying opportunity. Though, given its precarious balance sheet, the company's turnaround is not going to be easy.

The post Why DroneShield, Kingsgate, Santana, and Star shares are pushing higher today appeared first on The Motley Fool Australia.

That's because analysts at Bell Potter have just named them both as top picks for 2025 with major upside potential. Here's what the leading broker is saying about these names this year:

Biome Australia Ltd (ASX: BIO)

The first small cap ASX share to look at according to the broker is Biome Australia. It develops and commercialises clinically backed innovative live biotherapeutics (probiotics), marketing 17 products under the Activated Probiotics brand.

Bell Potter likes the company due to its distribution network and bold sales growth guidance. It said:

We like how BIO differentiates itself through evidence-based condition specific products that provide the intellectual platform to target pharmacy/health practitioner distribution networks. BIO has an impressive distribution network covering more than 5,000 points of distribution across Australia and is also building an international business. BIO is moving up the quality scale via becoming cash flow positive and has released three-year cumulative guidance that aims to triple sales.

The broker has a buy rating and 85 cents price target on its shares. Based on its current share price of 58 cents, this implies potential upside of 47% for investors over the next 12 months.

Santana Minerals Ltd (ASX: SMI)

Another small cap ASX share that could be a buy according to Bell Potter is Santana Minerals.

It is a gold explorer and developer with a focus on the Bendigo-Ophir Gold Project (BOGP) near Queenstown in New Zealand.

Bell Potter is very positive on the BOGP project and highlights its low costs and attractive mine life. It notes:

The project has a high grade Ore Reserve of 1.2Moz @ 2.4g/t Au and is emerging as one of the most attractive gold development projects of this scale on the ASX. Bottom quartile costs, conventional mining and processing methods and an initial 10-year mine life on Reserves alone make it attractive for both debt and equity financing. It is well placed to advance through final studies, financing and permitting, with one of the most favourable and rapid development pathways to production (and production re-rating) among its peer group.

Its analysts have a speculative buy rating and $1.07 price target on its shares. Based on its current share price of 48 cents, this implies massive potential upside of 120% for investors between now and this time next year.

The post Why these small cap ASX shares could deliver big returns in 2025 appeared first on The Motley Fool Australia.