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

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

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

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

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

Winners and losers

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

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

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

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

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

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

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

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

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

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

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

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

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

Top 10 ASX 200 shares countdown

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

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

Here's the rest of today's best: 

Enjoy the weekend!

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

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

What did West African Resources report?

• Q2 group gold production: 125,179 oz (Sanbrado 57,608 oz, Kiaka 67,571 oz)
• Q2 group gold sales: 110,737 oz at an average realised price of US$4,556/oz
• Year-to-date group gold production: 232,905 oz
• Year-to-date group gold sales: 214,883 oz at US$4,744/oz
• On track to achieve 2026 guidance of 430,000–490,000 oz gold

What else do investors need to know?

WAF continued to ramp up open pit and underground mining at its Sanbrado centre, with underground mined ounces rising 60% from the prior quarter. The Sanbrado process plant's gold output rose, thanks to higher grades and recovery rates.

At Kiaka, open pit mining output fell 24% from Q1, mainly due to a reduction in ore tonnes and grade, while processing still delivered growth in gold produced. Regulatory delays affected explosives supply at Kiaka, leading to operational adjustments prioritising ore production.

WAF is also working with the Burkina Faso government and SOPAMIB on finalising SOPAMIB's 25% acquisition of Kiaka SA, valued at approximately A$176 million.

What did West African Resources management say?

Executive Chairman and CEO Richard Hyde said:

With year-to-date production of 232,905 ounces of gold from our two large low-cost gold production centres of Sanbrado and Kiaka in Burkina Faso, WAF is on-track to achieve 2026 annual production guidance of 430,000 – 490,000 ounces of gold. I look forward to releasing our full quarterly activities report in the coming weeks.

What's next for West African Resources?

The company expects to maintain 2026 gold production volumes despite delays in permits, with Sanbrado mine plans retaining flexibility to adjust for timing impacts. Subject to government approvals, development of Sanbrado's M5 South underground is expected to commence in early 2027.

At Kiaka, operational plans continue to adapt to the available explosives supply, focusing on "free dig" mining areas. WAF remains engaged with authorities to secure outstanding approvals and supports growth at both production centres.

West African Resources share price snapshot

Over the past 12 months, West African Resources shares have risen 29%, outperforming the S&P/ASX 200 Index (ASX: XJO), which has risen 3% over the same period.

View Original Announcement

The post West African Resources posts June 2026 quarter gold production update appeared first on The Motley Fool Australia.

The team at Macquarie has had a look at the sector and singled out four companies they believe could deliver outsized share price gains. 

They are also speculating that the conditions are right for elevated returns of capital and potentially M&A to extend the operating life of some of the assets. 

Let's see which companies they like. 

Perseus Mining Ltd (ASX: PRU)

The Macquarie team said they see earnings for Perseus "hockeysticking beyond FY27", while cash would build to about US$1 billion in FY26. 

They added, "Perseus may become more active in developing/ acquiring ounces to sustain Sissingué beyond 2030'', given its large cash haul.

Macquarie is expecting Perseus' production to grow a compound 5% per year over the next three years, "driven by Nyanzaga entering production in 1QCY27 offsetting declining production at existing operations''.

They said the company has brownfield and greenfield expansion options, "which would seek to extend the mine-lives of Yaouré, Sissingue and Edikan, adding upside risk to our longer-term outlook''. 

They added:

Additionally, given PRU's balance sheet strength, and recent appetite for M&A targeted growth, we would not rule out a hub-and-spoke style model within Cote d'Ivoire, which would aim to maintain throughput across its existing mill infrastructure.

Macquarie has a price target of $6 on Perseus shares compared to $4.90 currently.

Resolute Mining Ltd (ASX: RSG)

Macquarie said Resolute has some issues to contend with, including instability in Mali, which had already affected the delivery of equipment and consumables. 

While the company lowered its second-quarter production outlook, it reiterated CY26 guidance of 195,000 to 210,000 ounces of gold for the calendar year.

Macquarie added:

With the development of Doropo (first production 2HCY28), RSG's reliance on Syama from an earnings perspective decreases, which should help to provide stability to production and earnings going forward.

Macquarie has a price target of $1.55 on Resolute shares compared to 95 cents currently.

West African Resources Ltd (ASX: WAF)

Macquarie said West African Resources shares were trading "materially below its 5-year historical multiple of 3.9x" EBITDA.

The analyst team added:

Despite production and costs that beat consensus expectations in the 1QCY26 result, we believe the market is hesitant given the recent developments in Burkina Faso. We anticipate this to dominate sentiment in the near-term. In 1QCY26, WAF released a 10-year production outlook, which highlighted a +500kozpa from ~CY27 onwards.

Macquarie has a $4 price target on West African shares compared to $2.69 currently.

Turaco Gold Ltd (ASX: TCG)

Turaco recently released a prefeasibility study for its Afema project in southeast Côte d'Ivoire, setting out the case for a mine producing more than 200,000 ounces of gold per year. 

In terms of the mine's revenue generation, the company published figures for a range of gold prices, but at US$4,000 per ounce – close to the current spot price of US$3971.22 – the mine would generate gross revenue of US$8.095 billion over its life of 10.3 years. 

The project would also have a payback period of 10 months, or 17 months if the gold price were US$3,000 per ounce.

Macquarie said the study detailed a larger throughput than they had modelled.

They added:

We anticipate as the business progresses through definitive feasibility study and additional permitting, ramp-up and steady-state production, its valuation will expand in line with peers like Perseus, which trades on a current multiple of A$802/oz.

Macquarie has a price target on Turaco shares of $1 per share compared to 45 cents currently.

The post 4 Africa-focused ASX gold stocks Macquarie says could outperform appeared first on The Motley Fool Australia.

Here are four of my top ASX 200 picks, and they're all tipped to climb higher over the next 12 months.

Light & Wonder Inc (ASX: LNW)

Tech-based gaming company Light & Wonder's share price climbed to an all-time high in early 2026. But they then crashed by 44% by early May after a disappointing FY25 result and a mixed first-quarter FY26 result.

The ASX 200 gaming company's share price has rebounded by around 20% since then, but it has barely made a dent in the losses suffered earlier in the year. Light & Wonder has been reshaping its business in recent years, focusing on recurring revenue and earnings improvement. If execution continues improving, it could continue to build value over the long term.

Brokers are bullish and unanimously rate the ASX 200 shares as a strong buy. They expect a 59% upside to $192.75 over the next 12 months, at the time of writing.

Guzman Y Gomez Ltd (ASX: GYG)

The Mexican-themed fast-food restaurant chain's shares hit a historic low in early April but have since rebounded by around 24%.

After multiple headwinds and sombre sentiment so far this year, Guzman Y Gomez shares look like they have finally changed course. The latest rebound comes on the back of news that the company closed its struggling US stores in late May. Instead, it plans to focus its business expansion on Asia and Australia. Its long-term goals remain intact, including plans to reach 1,000 restaurants in Australia and improve network EBITDA.

The majority of brokers rate the ASX 200 shares as a strong buy. They tip a 24% upside to an average $23.37 target price, at the time of writing.

WiseTech Global Ltd (ASX: WTC)

The ASX 200 tech stock has been in the spotlight in late June after media reports alleged that the Australian Federal Police is investigating founder Richard White over alleged trafficking matters. The company responded, saying that the investigation relates to White in a personal capacity and said that there is no suggestion of an alleged investigation into the company itself. But investors have still rushed for the exits. It's the latest of a long line of headwinds for the company over the past 12 months.

Nevertheless, I think WiseTech has a strong competitive advantage in the global logistics industry. I also think the company's future hinges on its FY26 results. If it manages to reach or exceed its upgraded guidance, I think we'll see a turnaround in investor sentiment.

Brokers are bullish, and most hold a strong buy rating. The average $72.39 target price implies a potential 152% upside over the next 12 months, at the time of writing.

West African Resources Ltd (ASX: WAF)

The ASX 200 gold miner has faced headwinds from higher mining costs and softer gold prices, and it's caused significant volatility in its share price so far in 2026. Investor sentiment has also dropped, and many have rushed to sell up their shares and rotate into larger, more stable assets instead.

However, the miner has posted record-breaking production results this year and raised its production guidance for FY26. The ASX 200 gold miner forecasts production of 430,000 to 490,000 ounces of gold, which implies production up to 63% higher than FY25.

Gold prices are forecast to rebound this year, which could hike the value of high-performing gold miners like West African Resources.

Brokers unanimously rate the ASX 200 gold miner's shares as a strong buy. The average $5.89 target price implies a potential 86% upside at the time of writing.

The post 4 ASX 200 shares I'd buy before the end of June appeared first on The Motley Fool Australia.

The ASX 200 is trading in the red again on Tuesday, down around 0.3% at the time of writing.

Here are two ASX 200 shares I think can drive the ASX 200 Index higher throughout the remainder of 2026. And with upsides as high as 100%, they look super cheap right now.

Life360 Inc (ASX: 360)

Life360 shares are around 1% higher at the time of writing, and changing hands at $22.22 a piece. It's good news for the US-based software development company's shares after a run of share price falls.

The ASX 200 tech company's shares are now around 60% below an all-time high recorded in October last year, and 32% lower for the year to date. 

Life360 shares have been caught up in an ongoing tech-sector-wide sell-off over the past nine months, as investors sold their tech shares amid growing fears that companies' core services could be replaced by AI. 

At the same time, there has been some concern that some tech company share prices, including Life360, had become overpriced and were trading above fair value.

But I think the oversold ASX 200 shares show great potential for growth.

Life360 recently reported a 38% increase in quarterly revenue, mostly driven by a 32% increase in subscription revenue and a 36% increase in core subscription revenue. The company also upgraded its FY26 adjusted EBITDA and revenue guidance, showing that the business is profitable and performing well.

Market Index data shows that all brokers have a strong buy rating on the stock. The $32.05 average target price implies a potential 44% upside at the time of writing.

Flight Centre Travel Group Ltd (ASX: FLT)

Flight Centre shares are also up around 1% in Tuesday afternoon trade, to $11.11 each.

The ASX 200 travel shares are now down around 26% year to date and are roughly 16% lower than 12 months ago. 

Flight Centre rallied well through late-2025 and early-2026 and peaked at a 52-week high in early February this year.

But a slower-than-expected profit growth, higher travel costs, geopolitical tensions, and inflation concerns pulled the brakes on the share price in February and March. And Flight Centre shares have still struggled to rebound.

As travel disruptions and fuel supply concerns ease, I think ASX 200 travel stocks like Flight Centre could rebound quickly.

Brokers unanimously rate Flight Centre shares as a strong buy and tip a 41% upside to an average $15.61 target price, at the time of writing.

West African Resources Ltd (ASX: WAF)

The Australia-based gold mining company's shares have fallen over 4% on Tuesday afternoon, and are trading at $2.96 at the time of writing.

The gold miner's shares have been volatile this year, trading between $2.71 and $3.91 per share. For the year to date, the shares are now down around 4%, but after a huge rally late 2025, the share price is 29% higher than it was 12 months ago.

The ASX 200 gold miner has faced headwinds from higher mining costs and softer gold prices. Investor sentiment dropped, and they began selling their gold shares and rotating into larger, more stable assets instead. 

But West African Resources has posted record-breaking production results this year and recently raised its production guidance for FY26 and the next 10 years. The ASX 200 gold miner forecasts production of 430,000 to 490,000 ounces of gold, which implies production up to 63% higher than FY25.

The gold price is forecast to rebound this year. If gold prices return to record highs, then the value of high-performing gold miners like West African Resources could accelerate.

Brokers unanimously rate the ASX 200 gold miner's shares as a strong buy, and the average $5.89 target price implies a potential 100% upside at the time of writing. 

The post These 3 oversold ASX 200 shares look cheap right now appeared first on The Motley Fool Australia.

This happy Friday for the ASX comes after a more measured night of trading on the American markets.

The Dow Jones Industrial Average Index (DJX: .DJI) had a nervous session, finishing with a tentative 0.049% rise.

The tech-heavy Nasdaq Composite Index (NASDAQ: .IXIC) was more decisive, though, rising a solid 0.91%.

But let's return to the local markets now and check out how today's terrific trading conditions spilled over into the different ASX sectors.

Winners and losers

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

The analyst team at Canaccord Genuity has taken the opportunity to run the ruler over the company in the wake of these announcements, and has a speculative buy recommendation on the stock, as well as a bullish share price target, which we'll get to shortly.

Major transaction

Firstly, let's have a look at what has been announced in recent days.

At the beginning of last week, the company announced that the Burkina Faso Government would acquire another 25% of its Kiaka operations for $175 million, taking its stake to 40%.

This was good news for shareholders, with West African Resources saying it would distribute the money to shareholders by way of a special dividend.

Interestingly, West African Resources Executive Chair Richard Hyde said the company was also looking at ways it could potentially partner on other projects with the government's Société de Participation Minière du Burkina Faso (SOPAMIB).

Also, last week, West African Resources released its quarterly report, in which it divulged it had a record cash balance of $847 million, while gold production in the quarter had come in at 107,728 ounces.

Mr Hyde said regarding the quarterly results:

With quarterly production of 107,728 ounces gold at an AISC (all-in sustaining cost) of US$1,921/oz from our two large low-cost gold production centres of Sanbrado and Kiaka in Burkina Faso and based on our planned production profile for 2026, WAF is on-track to achieve annual production guidance of 430,000 – 490,000 ounces of gold at an AISC below US$1,900/oz. WAF is on an exciting growth trajectory, and we continue to create value through the drill-bit with a US$20 million exploration budget and more than 100,000 metres of drilling planned at our Sanbrado and Kiaka production centres and surrounding exploration areas in 2026.

Shares looking cheap

The Canaccord Genuity team said they had increased their share price target for the company from $6.70 to $7, "with a partial unwinding of risk and change in equity ownership''.

That implies upside of more than 100% from the current share price of $3.20.

They added:

The market may take some time to digest this equity update and may apply some initial … negativity, but over the coming weeks we think the company could trade up following relief that this issue is behind WAF and the impact is less than previously feared.

West African Resources is valued at $3.68 billion.

The post How high could shares in West African Resources go according to Canaccord Genuity? appeared first on The Motley Fool Australia.

Let's see what they reported and how the market is reacting to the releases. Here's what you need to know:

Perseus Mining Ltd (ASX: PRU)

The Perseus Mining share price is edging lower today after the gold miner released its third-quarter update.

The company posted production of 107,144 ounces of gold at an all-in site cost of US$1,748 per ounce. The latter was comfortably lower than its average realised price, which underpinned an average cash margin of US$2,395 per ounce of gold produced. This delivered estimated operating cash flow of US$252 million.

FY 2026 production and all-in site cost guidance remains unchanged at 400,000 ounces to 440,000 ounces with an AISC of US$1,600 per ounce to US$1,760 per ounce.

Regis Resources Ltd (ASX: RRL)

The Regis Resources share price is also down slightly today.

It released its third-quarter update and reported gold production of 90.6k ounces at an all-in sustaining cost (AISC) of $2,807 per ounce.

This comprises Duketon production of 57.5k ounces at an AISC of $3,139 per ounce and Tropicana production of 33.1k ounces at an AISC of $2,140 per ounce.

Gold sales for the quarter were 89.1k ounces for a total of $622 million at an average realised price of $6,977 per ounce.

Looking ahead, while the recent spike in diesel price is impacting the company's costs, it advised that if the current prices stay steady, it will still expect to come within its guidance.

West African Resources Ltd (ASX: WAF)

The West African Resources share price is trading lower today following the release of the gold miner's first-quarter update.

It reported quarterly gold production of 107,728 ounces with an AISC of US$1,921 per ounce. This underpinned cash flow from operating activities of $440 million, which lifted its cash balance to a record high of $847 million.

This means the company is performing in-line with its guidance for the year. West African's executive chair and CEO, Richard Hyde, commented:

With quarterly production of 107,728 ounces gold at an AISC of US$1,921/oz from our two large low-cost gold production centres of Sanbrado and Kiaka in Burkina Faso and based on our planned production profile for 2026, WAF is on-track to achieve annual production guidance of 430,000 – 490,000 ounces of gold at an AISC below US$1,900/oz.

The post What did ASX gold shares Regis Resources, Perseus, and West African report today? appeared first on The Motley Fool Australia.

What did West African Resources report?

• Q1 2026 gold production: 107,728 ounces at AISC of US$1,921/oz
• Q1 gold sales: 104,145 ounces at a realised price of US$4,945/oz
• Record cash balance of A$847 million at 31 March 2026
• Operating cash flow of A$440 million for the quarter
• A$213 million in unsold gold bullion at quarter-end
• Ore Reserves increased to 7 million ounces, Mineral Resources up to 13.7 million ounces

What else do investors need to know?

West African Resources continued its strong safety performance during the quarter, reporting no significant health or safety incidents and an industry-leading injury frequency rate of 1.64.

Operationally, both the Sanbrado and Kiaka production centres performed well. Kiaka saw an 18% increase in mined ounces and a 6% rise in gold produced versus the previous quarter, while Sanbrado delivered production broadly in line with its annual plan.

Post-quarter, the Burkina Faso Government published a decree to acquire 25% of Kiaka SA for A$175 million. The company also updated its 10-year production outlook, targeting 5.3 million ounces of gold output from 2026 to 2035 and annual production peaking at 596,000 ounces in 2030.

What did West African Resources management say?

Executive Chairman and CEO Richard Hyde said:

With quarterly production of 107,728 ounces gold at an AISC of US$1,921/oz from our two large low-cost gold production centres of Sanbrado and Kiaka in Burkina Faso and based on our planned production profile for 2026, WAF is on-track to achieve annual production guidance of 430,000 – 490,000 ounces of gold at an AISC below US$1,900/oz.

Our updated Resources, Reserves and 10-year Production Plan also released in the quarter, reported further increases to the production plans for Kiaka and Sanbrado on the back of outstanding results from our 2025 drilling programs. At Kiaka we have also modelled higher production throughputs based on exceptional performance of the process plant. Planned production increases from Sanbrado and Kiaka underpin WAF's goal of being a sustainable 500,000+ ounce gold producer.

WAF is on an exciting growth trajectory, and we continue to create value through the drill-bit with a US$20 million exploration budget and more than 100,000 metres of drilling planned at our Sanbrado and Kiaka production centres and surrounding exploration areas in 2026.

What's next for West African Resources?

Looking ahead, West African Resources plans to maintain its annual gold production guidance of 430,000–490,000 ounces at an AISC below US$1,900/oz for 2026. Production is anticipated to rise further towards 500,000 ounces per year as the company executes its long-term expansion strategy.

The business is set to ramp up exploration activities with over 100,000 metres of drilling budgeted for 2026, aiming to extend mine life and boost resources. Upcoming milestones include reporting results from key drilling programs at M5 South and M5 North, and progressing pre-production mining activities at the Toega deposit.

West African Resources share price snapshot

Over the past 12 months, West African Resources shares have risen 47%, outperforming the S&P/ASX 200 Index (ASX: XJO) which has risen 12% over the same period.

View Original Announcement

The post West African Resources posts record cash, strong Q1 gold output appeared first on The Motley Fool Australia.

Shareholders in the money

But the announcement is good news for shareholders, with the ASX gold company saying it would distribute the money by way of a special dividend.

The Burkina Faso Government already held a 15% stake in the Kiaka operations, which poured their first gold ahead of schedule and under budget in June of last year.

The Burkina Faso government has now passed a decree authorising Société de Participation Minière du Burkina Faso (SOPAMIB) to acquire the extra stake.

West African executive chair Richard Hyde said regarding the announcement:

Publication of the Decree removes uncertainty regarding the Government's interest in Kiaka. WAF will proceed to finalise a transaction with SOPAMIB, which we aim to have completed by the end of CY 2026. WAF plans to distribute the cash proceeds received from the sale of its interest in Kiaka back to shareholders by way of a special dividend. Our discussions with SOPAMIB have been extensive and robust. During these discussions, we have also explored opportunities for a mutually beneficial long-term partnership on advanced gold projects within SOPAMIB's current portfolio.

West African Resources said its Sanbrado and Toega operations are not the subject of a request for additional participation by the Government and are not referred to in the Decree.

Mr Hyde added that the company would release its quarterly activities and cash flow reports later this week, "which are anticipated to report a record high cash position for WAF''.

West African Resources shares were marginally higher, up 2.9% in early trade, before settling back to be 1.7% lower at $3.38.

The company is valued at $3.93 billion.

Long term growth

West African Resources announced in late March that it had a strong production profile over the next decade, built around its African operations.

Mr Hyde said at the time:

WAF's updated 10-year production outlook forecasts the production of 5.3 million ounces of gold over the next decade, with production peaking in 2030 at 596,000 ounces. Our unhedged Mineral Resources now stand at 13.6 million ounces of gold, while Ore Reserves total 7.0 million ounces. We see potential to improve annual production further through our ongoing drilling programs where we plan to drill more than 100,000m annually targeting extensions at M5 South underground, beneath M5 North open-pit and Toega underground. Our 2026 10-year production plan highlights WAF's strong and sustainable long-term future.

The company added that its Sanbrado and Kiaka projects, along with surrounding exploration licenses, had "strong potential" for new discoveries and extensions of existing resources.

The post Why are West African Resources shareholders celebrating today? appeared first on The Motley Fool Australia.

West African shares closed yesterday trading for $3.38. In morning trade on Thursday, shares are changing hands for $3.31 apiece, down 2.2%. That gives the gold miner a market cap of approximately $3.8 billion.

For some context, the ASX 200 is down 0.1% at this same time, while the S&P/ASX All Ordinaries Gold Index (ASX: XGD) is down a steeper 3.2% amid concerns that the nascent ceasefire in the Iran war may not hold for long.

That's seen oil prices rebound and gold prices dip overnight, as a prolonged war will stoke inflation and likely lead to higher interest rates. Gold, and by connection ASX 200 gold stocks like West African Resources, tend to perform better in a low or falling interest rate environment.

Despite today's dip, West African shares remain up an index smashing 59.1% since this time last year.

Here's what else ASX investors are mulling over today.

ASX 200 gold stock on track to meet guidance

Before market open today, West African released a preliminary production update for the March quarter (Q1 2026). The update covers both its Sanbrado and Kiaka gold production centres, located in Burkina Faso.

Over the three months to 31 March, the ASX 200 gold stock reported total gold production of 107,728 ounces. The miner sold 104,145 ounces of gold during this period, receiving an average realised price of US$4,945 per ounce.

Breaking that down across its two centres, Sanbrado produced 42,024 ounces of gold, while Kiaka produced 65,704 ounces of gold.

Management said that open-pit mining at Sanbrado continued to ramp up during the quarter. And open-pit mining at Kiaka achieved an 18% increase in mined ounces compared to the December quarter.

West African shares may be outperforming the broader ASX gold sector today, with the miner reaffirming it is on track to achieve its full calendar-year 2026 production guidance of 430,000 to 490,000 ounces of gold.

What did West African Resources management say?

Commenting on the March results that have yet to lift the ASX 200 gold stock today, West African Resources CEO Richard Hyde said:

With quarterly production of 107,728 ounces gold from our two large low-cost gold production centres of Sanbrado and Kiaka in Burkina Faso, WAF is well on-track to achieve 2026 annual production guidance of 430,000 – 490,000 ounces of gold.

I look forward to releasing our full quarterly activities report in the coming weeks.

The post Up 59% in a year, why is this $3.8 billion ASX 200 gold stock sinking today? appeared first on The Motley Fool Australia.

It was a positive announcement, though it led the team at Macquarie to slightly lower its price target for the company.

They are still bullish on the stock, however, and think investors can make serious gains over the next 12 months.

We'll get to the details of their share price target shortly.

Firstly, what did West African Resources announce?

Strong production profile

The company said its ore reserves had increased to seven million ounces of gold, which would underpin 5.3 million ounces of gold production from 2026 to 2035.

West African Executive Chair Richard Hyde said there could be further upside:

WAF's updated 10-year production outlook forecasts the production of 5.3 million ounces of gold over the next decade, with production peaking in 2030 at 596,000 ounces. Our unhedged Mineral Resources now stand at 13.6 million ounces of gold, while Ore Reserves total 7.0 million ounces. We see potential to improve annual production further through our ongoing drilling programs where we plan to drill more than 100,000m annually targeting extensions at M5 South underground, beneath M5 North open-pit and Toega underground. Our 2026 10-year production plan highlights WAF's strong and sustainable long-term future.

The company said its Sanbrado and Kiaka projects, along with surrounding exploration licenses, had "strong potential" for new discoveries and extensions of existing resources.

The company added:

Current efforts are focused on near mine exploration to maximise value from our operating assets, where mineralisation remains open at depth. West African plans to further expand its owner operated drilling fleet in 2026 with the purchase of two additional surface diamond rigs to accelerate resource and reserve growth.

Shares looking cheap

The analyst team at Macquarie ran the ruler over this week's announcement and said that the production forecast was in line with consensus estimates.

However, they said that the higher overall production over the next 10 years was offset by higher expected costs across the operations.

They said the company had also hinted at paying a dividend, so they had factored a 10-cent per share dividend into their calculations on the company's shares.

Macquarie has a 12-month price target of $4.50 on West African shares, which they reduced by 10 cents from $4.60, compared with the current share price of $3.37.

That would be a return of 33.5% if achieved.

The post After new production guidance, how high could this ASX gold stock go? 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:

Challenger Ltd (ASX: CGF)

The Challenger share price is up 3.5% to $8.41. This morning, the annuities company welcomed APRA's announcement on the final changes to capital standard settings for providers of longevity products. It believes these are "an important step in developing Australia's retirement income market and will support greater take up of lifetime income products as an increasing number of Australians retire every year." Challenger is working through the details of the changes and plans to provide an update at its investor day event in May.

Magellan Financial Group Ltd (ASX: MFG)

The Magellan share price is up over 2% to $9.76. This morning, the fund manager announced that it raised $20 million from its share purchase plan (SPP). The company advised that the SPP was significantly oversubscribed. It received valid applications totalling $129.4 million from 5,195 eligible shareholders. Approximately 2,366,548 new Magellan shares will be issued at $8.45 per share. The new shares will hit the ASX boards on 2 April.

Northern Star Resources Ltd (ASX: NST)

The Northern Star share price is up 4.5% to $20.39. This appears to have been driven by a broker note out of UBS. This morning, the broker upgraded Northern Star's shares to a buy rating (from sell) with a trimmed price target of $24.70 (from $28.00). UBS made the move on valuation grounds following a significant share price decline since the release of a disappointing operational update. While the broker feels that near-term market estimates are still optimistic, it sees value in Northern Star's shares at current levels.

West African Resources Ltd (ASX: WAF)

The West African Resources share price is up 4% to $3.18. This morning, the gold miner released its FY 2026 guidance. It is targeting up to 490,000 ounces at an all-in sustaining cost (AISC) under US$1,900 per ounce. It also laid out its plans for the next 10 years, which will see it aim to average production of 533,000 ounces per annum. West African's executive chair and CEO, Richard Hyde, commented: "WAF's updated 10-year production outlook forecasts the production of 5.3 million ounces of gold over the next decade, with production peaking in 2030 at 596,000 ounces. Our unhedged Mineral Resources now stand at 13.6 million ounces of gold, while Ore Reserves total 7.0 million ounces."

The post Why Challenger, Magellan, Northern Star, and West African Resources shares are storming higher appeared first on The Motley Fool Australia.

West African Resources shares closed yesterday trading for $3.05. In late morning trade on Tuesday, shares are swapping hands for $3.09 apiece, up 1.3%.

For some context, the ASX 200 is down 0.2% at this same time, while the S&P/ASX All Ordinaries Gold Index (ASX: XGD) is down 0.3%.

Here's why West African shares are outperforming today.

(* Note, all figures below in US dollars unless otherwise specified.)

ASX 200 gold stock lifts on record production outlook

West African shares are outperforming today after the unhedged gold miner released its production guidance for calendar year 2026 and its 10-year production outlook.

As for the year ahead, the ASX 200 gold stock forecasts production of 430,000 ounces to 490,000 ounces of gold. The high end of that guidance represents a 63% increase from the 300,000 ounces of gold West African produced in 2025.

The company expects to produce this gold at an all-in sustaining cost (AISC) of $1,900 per ounce.

And with plans to increase its gold resources and extend mine lives, the miner is aiming to drill some 100,000 metres across its Sanbrado and Kiaka assets, both located in Burkina Faso, in 2026.

Amid strong operations, West African Gold said it is also considering share buybacks or declaring a maiden dividend in 2026.

"2026 is set to be a record production year for WAF as we will see a full year of operation from Kiaka for the first time, and another solid year of production from Sanbrado is expected," West African Gold CEO Richard Hyde said.

What's ahead for West African Gold shares?

Looking to the decade ahead, the ASX 200 gold stock released an updated Resources, Reserves and 10‐year production outlook.

West African's Reserves increased to 7 million ounces of gold, while its Mineral Resources increased to 13.7 million ounces of gold.

Over the 10 years from 2026 to 2035, the miner expects to produce 5.3 million ounces of the yellow metal. Annual gold production is forecast to peak at 596,000 ounces in 2030.

And Hyde noted that those production figures could ramp up following ongoing exploration.

He said:

We see potential to improve annual production further through our ongoing drilling programs where we plan to drill more than 100,000 metres annually targeting extensions at M5 South underground, beneath M5 North open-pit and Toega underground.

Despite the March retrace following the onset of the Iran war and resulting decline in global gold prices, shares in the ASX 200 gold stock remain up 32% in 12 months.

The post Guess which ASX 200 gold stock is lifting off today on record breaking news appeared first on The Motley Fool Australia.

What did West African Resources report?

• 2026 group gold production guidance: 430,000–490,000 ounces (up from 300,000 ounces in 2025)
• Group AISC guidance: under US$1,900/oz
• Kiaka mine forecast: 240,000–280,000 ounces of gold
• Sanbrado mine forecast: 190,000–210,000 ounces of gold
• Planned exploration drilling: over 100,000 metres across key sites in 2026
• Potential dividend and/or share buybacks under consideration for H2 2026

What else do investors need to know?

West African Resources is forecasting 2026 to be its strongest year yet, following the first full year of Kiaka operations and ongoing strong output from Sanbrado. The company is planning significant investment in exploration, with more than US$15–$22 million allocated to expand resources and extend mine life across its sites.

Capital management is a focus, with the board considering options such as early debt repayments and returning capital to shareholders through dividends or share buybacks, depending on free cash flow generation. The company is also managing operating cost risks, including royalties linked to gold price and potentially higher fuel costs.

What did West African Resources management say?

Executive Chairman and CEO Richard Hyde said:

2026 is set to be a record production year for WAF as we will see a full year of operation from Kiaka for the first time, and another solid year of production from Sanbrado is expected. We are guiding WAF gold production from 430,000 to 490,000 ounces in 2026 at an AISC less than US$1,900/oz. WAF is on an exciting growth trajectory, and we continue to create value through the drill-bit with a US$20 million exploration budget and more than 100,000m of drilling planned at our Sanbrado and Kiaka production centres and surrounding exploration areas in 2026.

What's next for West African Resources?

Looking ahead, West African Resources aims to grow annual gold production beyond 500,000 ounces, supported by active exploration and development at both Kiaka and Sanbrado. Key projects for 2026 include continued mine development, plant upgrades, and infrastructure investment to support reliable operations and long-term profitability.

The company is also reviewing its capital management approach, with the potential for dividends and/or share buybacks after its 2026 half-year result, as free cash flow permits.

West African Resources share price snapshot

Over the past 12 months, West African Resources shares have risen 31%, outperforming the S&P/ASX 200 Index (ASX: XJO) which has risen 8% over the same period.

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The post West African Resources: 2026 production guidance forecasts record gold output appeared first on The Motley Fool Australia.

Let's have a look at who they like.

West African Resources Ltd (ASX: WAF)

The Barrenjoey team has published a research note on this company with the title "Cash harvest in 2026", which gives some indication of how positive they are on the stock.

They note that after a "challenging" 2025, the company enters 2026 in a net cash position, "with its two key assets humming and on track to produce 475,000 ounces at an all in sustaining cost of US$1,991 per ounce on our estimates''.

The Barrenjoey team went on to say:

The shares have traded down 30% since January and are now imputing an almost unbelievable 43% free cash flow yield in 2026 with the potential to deliver a dividend yield exceeding 10%. Uncertainty around the government's request to purchase a stake in Kiaka remains unresolved, but the shares are now pricing in a scenario materially worse than the recently reported additional 25%. We expect the business will deliver $1.1bn in free cash flow this year, and will be in a strong position to make material capital returns to shareholders.

Barrenjoey says their price target is based on a "worst case scenario" regarding what stake in the Kiaka mine the Burkina Faso Government opts to take.

Barrenjoey has a $4.80 price target for West African Resources shares, compared with $2.89 currently.

If achieved, that would represent a return of 66.1%. West African Resources is valued at $3.46 billion.

Perseus Mining Ltd (ASX: PRU)

This company announced just this week that it had sold its 70% stake in the Meyas Sand Project in Sudan to a Chinese company for US$260 million, which Barrenjoey said was about 50% more than Perseus paid for it.

Barrenjoey said the transaction was a net positive, as it had the asset on the books as worth $118 million, "given the ongoing civil war in Sudan and uncertainty around Perseus's ability to develop it''.

The Barrenjoey analysts point out that Perseus shares are down 20% from their January peak, ''since which time management has announced the doubling of Reserves at Nyanzaga, realised value at Meyas Sand and positioned the company for improved capital returns in 2026''.

The Barrenjoey analysts added:

We view Perseus as the highest-quality ASX-listed African gold exposure, with its history of operational excellence and geographic diversification typically driving a healthy premium over its ASX listed African gold peers.

They said that the company should be in a position to "meaningfully" lift its full-year dividend following the Sudan sale.

Barrenjoey has increased its price target for Perseus from $6.50 to $6.80, compared with $4.80 currently.

The post 2 ASX gold miners to buy for solid share price gains, according to Barrenjoey appeared first on The Motley Fool Australia.

After starting strong this morning, the ASX 200 took a brief dip into negative territory in afternoon trading. But investors' feet warmed back up by the time the markets closed, with the index lifting 0.36% to 8,614.3 points.

This happier trading session came after a bullish start to the American trading week in the early hours of this morning.

The Dow Jones Industrial Average Index (DJX: .DJI) rose by an optimistic 0.83%.

The tech-heavy Nasdaq Composite Index (NASDAQ: .IXIC) fared even better, gaining a solid 1.22%.

But let's return to the ASX now and take stock of how the various ASX sectors enjoyed (or not) today's renewed sense of optimism.

The post Here are the top 10 ASX 200 shares today 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:

Challenger Ltd (ASX: CGF)

The Challenger share price is up 2.5% to $7.87. This follows news that the annuities company has amended its takeover offer for Pepper Money Ltd (ASX: PPM). Challenger has reduced the offer price from $2.60 per share to $2.25 per share, less the final fully franked Pepper Money 2025 dividend of 7.8 cents per share and any special dividend. It notes that the revised proposal represents Challenger's best and final offer, in the absence of a superior proposal. The company also reminded investors that discussions remain incomplete and there is no certainty that the revised proposal will lead to a transaction. Pepper Money's independent board committee advised that it will consider the revised proposal.

Meeka Metals Ltd (ASX: MEK)

The Meeka Metals share price is up 4% to 17.2 cents. This morning, the gold miner revealed that it is upgrading its processing facilities to unlock ~200ktpa of additional mill capacity. This increases throughput to ~800ktpa. Meeka's managing director, Tim Davidson, said: "Ore sorting unlocks an additional 200,000 tonnes per annum of milling capacity and effectively doubles the head grade of Andy Well ore entering the plant, delivering a meaningful increase in annual gold production."

Vulcan Energy Resources Ltd (ASX: VUL)

The Vulcan Energy share price is up 1% to $3.01. This has been driven by an announcement from the lithium developer which revealed that it has been issued its first lithium production permit for the flagship Lionheart Project. This is the first such licence to be granted in the Upper Rhine Valley Brine Field, and in the state of Rhineland-Palatinate. Vulcan's managing director and CEO, Cris Moreno, commented: "Securing the first lithium production licence within the Lionheart Project marks another important milestone, and we thank the Mining Authority in the state of Rhineland-Palatinate for their excellent and timely collaboration during this process."

West African Resources Ltd (ASX: WAF)

The West African Resources share price is up 6% to $2.95. This follows the release of the gold miner's full-year results. West African Resources reported revenue of $1.54 billion and a net profit after tax of $567 million. This was underpinned by gold sales of 280,065 ounces with an average realised price of US$3,525 per ounce and all-in sustaining costs of US$1,488 per ounce.

The post Why Challenger, Meeka Metals, Vulcan Energy, and West African Resources shares are rising today appeared first on The Motley Fool Australia.

West African Resources shares closed yesterday trading for $2.78. In early morning trade on Tuesday, shares are changing hands for $2.91 apiece, up 4.7%, giving the miner a market cap of some $3.3 billion.

For some context, the ASX 200 is up 0.5% at this same time on Tuesday.

Here's what's grabbing investor interest.

ASX 200 gold stock lifts off on 130% profit boost

Investors are bidding up the West African Resources share price following the release of the miner's 2025 calendar year results.

Over the 12 months, the ASX 200 gold stock raked in $1.54 billion in revenue.

Gold production increased by 45.4% to 300,383 ounces, up from 206,622 ounces in 2024.

Costs were up too, with the miner reporting an all-in sustaining cost (AISC) of US$1,488 per ounce, up 20% from the US$1,240 AISC the prior year.

The year saw West African achieve gold sales of 280,065 ounces, with the miner receiving an average price of US$3,525 an ounce for the yellow metal.

With production and sales up, the ASX 200 gold stock saw its operating cash flow surge to $790 million, up 213.5% from $252 million in 2024.

Year end gold reserves fell to 6.2 million ounces, from 6.5 million ounces a year ago.

And on the bottom line, West African Resources revealed a net profit after tax (NPAT) of $567 million, up 130.5% from the 2024 NPAT of $246 million.

What did management say?

Commenting on the results helping lift the ASX 200 gold stock today, West African Resources CEO Richard Hyde said, "We finished 2025 in a strong financial position, with $584 million cash and net assets of $1.76 billion on our balance sheet."

Hyde continued:

Sanbrado continued its solid performance in 2025, generating $1.1 billon of revenue from 205,517 ounces gold sold unhedged at an average realised price of $5,283 an ounce (US$3,407/oz). During its first five months of operational ramp-up, Kiaka generated $445 million of revenue from 74,548 ounces gold, sold unhedged at an average realised price of $5,971 an ounce (US$3,850/oz)…

WAF, as an unhedged gold producer is now incredibly well-positioned, particularly at the prevailing gold price levels, to significantly increase group profits and cash flows in 2026. We aim to maintain this for the next 10+ years from our two long-life major gold production centres of Sanbrado and Kiaka.

What's next for the ASX 200 gold stock?

Looking ahead, Hyde said the company is well-placed for another uplift in revenue and operating cash flow in 2026. That growth should be driven by a full year of production from its gold production centres, Sanbrado and Kiaka.

"WAF's strong production performance is expected to continue in 2026," he said.

"We invested significantly in exploration drilling in 2025, and I look forward to releasing our updated Reserves, Resources, and 10-year production target by the end of Q1 2026," Hyde concluded.

The post Why is this $3 billion ASX 200 gold stock leaping higher on Tuesday? appeared first on The Motley Fool Australia.

What did West African Resources report?

• Revenue: $1.54 billion
• Net profit after tax: $567 million
• Profit before tax: $808 million
• Operating cash flow: $790 million
• Gold production: 300,383 ounces at US$1,488/oz AISC
• Gold sales: 280,065 ounces at US$3,525/oz average price

What else do investors need to know?

West African Resources finished 2025 with $584 million in cash and 27,095 ounces of gold bullion, highlighting its strong liquidity position. The company saw a successful ramp-up of its new Kiaka gold production centre, contributing to both output and revenue growth.

Importantly, there were no significant health or safety incidents during the year, and the company implemented an owner-mining model across its open pit operations. West African also increased exploration efforts, aiming for future resource expansion.

What did West African Resources management say?

Executive Chairman and CEO Richard Hyde said:

WAF delivered another year of strong operational and financial performance in 2025, meeting all key objectives including the on-budget construction and ramp-up of Kiaka, continued high-margin gold production from Sanbrado, and implementation of the owner-mining model for the Group's open pit operations. The Group generated A$569M NPAT, A$790M operating cash flow and finished the year with A$584M cash and 27,095 ounces of unsold gold bullion.

What's next for West African Resources?

West African Resources anticipates even higher revenue and operating cash flow in 2026, thanks to a full year of simultaneous production from both Sanbrado and Kiaka. The company plans to publish updated reserves, resources, and a 10-year production target by the end of Q1 2026.

Ongoing investments in exploration drilling could further grow its asset base and long-term production capabilities, positioning the company for sustained performance.

West African Resources share price snapshot

Over the past 12 months, West African Resources shares have risen 24%, outperforming the S&P/ASX 200 Index (ASX: XJO) which has risen 9% over the same period.

View Original Announcement

The post West African Resources posts $567m profit as gold production grows appeared first on The Motley Fool Australia.