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ANALYSIS
OPINION
ACTION

ANALYSIS

Market Analysis

4DX.AX

-0.88%

ABG.AX

AIS.AX

5.48%

AGL.AX

0.61%

A1M.AX

4.55%

AIZ.AX

1.43%

AAI.AX

-0.19%

ALK.AX

3.04%

A4N.AX

ALQ.AX

1.41%

AMC.AX

-1.33%

AOV.AX

3.11%

AMP.AX

0.95%

ALD.AX

2.13%

ANN.AX

0.57%

ANZ.AX

0.08%

APA.AX

0.3%

ARU.AX

-2.44%

ARB.AX

0.68%

ARF.AX

-1.23%

ARG.AX

0.33%

ALL.AX

-0.83%

AYA.AX

2.08%

APZ.AX

0.4%

ASX.AX

-1.35%

ALX.AX

-0.2%

AUB.AX

-0.87%

AIA.AX

-0.42%

AXQ.AX

-4.76%

AMI.AX

AZJ.AX

1.65%

ABB.AX

2.13%

ASB.AX

5.68%

AAC.AX

AEF.AX

-1.1%

AFI.AX

AUI.AX

1.17%

BOQ.AX

BMN.AX

4.92%

BCI.AX

8.54%

BPT.AX

0.57%

BGA.AX

-0.81%

BGL.AX

4.78%

BEN.AX

0.28%

BNZ.AX

2.87%

BHP.AX

2.52%

BKI.AX

1.4%

BC8.AX

1.65%

XYZ.AX

-0.32%

BSL.AX

1.06%

BOE.AX

2.35%

BXB.AX

-1.35%

BVS.AX

-0.8%

BRE.AX

7.76%

BRG.AX

-1.19%

BFL.AX

0.24%

BWP.AX

-0.26%

CMM.AX

4.89%

CSC.AX

3.72%

CAR.AX

-2.79%

CIN.AX

CYL.AX

5.34%

CAT.AX

-1.1%

CWP.AX

-0.28%

CNI.AX

-1.19%

CIP.AX

-0.67%

COF.AX

-2.25%

CGF.AX

0.19%

CIA.AX

1.03%

CHC.AX

-1.66%

CLW.AX

-0.81%

CQR.AX

-0.51%

CQE.AX

-1.53%

CNU.AX

-0.74%

C79.AX

5.5%

CVL.AX

-0.58%

CU6.AX

4.93%

CWY.AX

0.43%

CBO.AX

-0.9%

COH.AX

-4.92%

CDA.AX

0.96%

COL.AX

0.43%

CKF.AX

-0.89%

CBA.AX

0.7%

CPU.AX

0.43%

CEN.AX

-1.83%

CXO.AX

CCP.AX

1.52%

CMW.AX

CSL.AX

-2.83%

CCL.AX

1.89%

DBI.AX

0.89%

DTL.AX

2.25%

DTR.AX

3.7%

DYL.AX

3.05%

DRR.AX

0.71%

DVP.AX

2.3%

DXS.AX

-1.04%

DXI.AX

-2.02%

DDR.AX

0.73%

DGT.AX

DJW.AX

-0.34%

DMP.AX

-1.05%

DOW.AX

0.38%

DPM.AX

6.01%

DRO.AX

-0.46%

DUR.AX

-0.87%

DNL.AX

-0.53%

APE.AX

0.57%

EBO.AX

EIQ.AX

-2.14%

ELD.AX

-1.08%

EOS.AX

-0.28%

ELV.AX

2.28%

ELS.AX

-10.04%

EHL.AX

EMR.AX

4.4%

EDV.AX

2.68%

EQR.AX

-5.36%

EVN.AX

4.32%

EVT.AX

0.33%

FDC.AX

FCL.AX

0.54%

FFM.AX

6.91%

FPH.AX

0.61%

FPR.AX

-0.7%

FBU.AX

1.27%

FLT.AX

0.77%

FML.AX

8.29%

FRS.AX

FMG.AX

0.27%

FRW.AX

-1.63%

FGX.AX

FGG.AX

0.3%

GLF.AX

0.69%

GDG.AX

-0.89%

GNE.AX

-0.92%

GMD.AX

5.9%

GNP.AX

-0.44%

GMG.AX

-1.96%

GPT.AX

-0.8%

GQG.AX

-0.37%

GNG.AX

0.38%

GNC.AX

GGP.AX

2.14%

GOZ.AX

-0.92%

GCI.AX

0.48%

GYG.AX

GWA.AX

-1.27%

HSN.AX

1.91%

HVN.AX

-2.08%

HGH.AX

HM1.AX

0.68%

HLI.AX

-1.38%

HMC.AX

2.11%

HDN.AX

-0.4%

HUB.AX

4.87%

IEL.AX

-0.46%

IGO.AX

2.92%

ILU.AX

1.32%

IMD.AX

3.35%

IMR.AX

-1.73%

IFT.AX

1.47%

INA.AX

-0.93%

ING.AX

IAG.AX

IDX.AX

-0.48%

IPG.AX

0.41%

IPX.AX

8.67%

IPH.AX

-1.22%

IRE.AX

-1.93%

JHX.AX

-2.33%

JBH.AX

-1.45%

JDO.AX

-0.55%

JMS.AX

KAR.AX

4.35%

KLS.AX

0.95%

KCN.AX

7.56%

KKC.AX

0.48%

GLS.AX

0.5%

LGF.AX

-5%

L1G.AX

1.85%

LSF.AX

2.58%

LRV.AX

7.48%

LFS.AX

1.14%

LLC.AX

-2.05%

LFG.AX

-2.38%

360.AX

-1.73%

LIC.AX

-0.37%

LNW.AX

-0.09%

LIN.AX

-1.39%

LTR.AX

2.07%

LOV.AX

-1.35%

LYL.AX

-0.05%

LYC.AX

-3.63%

MA1.AX

0.25%

MAF.AX

-0.49%

MGH.AX

1.46%

MAH.AX

1.04%

MQG.AX

0.07%

MAQ.AX

2.03%

MAD.AX

3.22%

MFG.AX

0.82%

MMS.AX

-0.61%

MPL.AX

-0.58%

MP1.AX

0.84%

MCY.AX

3.67%

MEZ.AX

-0.63%

MSB.AX

0.86%

MLX.AX

5.21%

MTS.AX

-0.34%

MOT.AX

0.63%

MXT.AX

-0.26%

MFF.AX

-1.15%

MIN.AX

1.78%

MI6.AX

-0.79%

MIR.AX

-0.75%

MGR.AX

-0.29%

MND.AX

-2.62%

MYS.AX

-0.83%

NAN.AX

-0.66%

NAB.AX

-0.08%

NGI.AX

-0.83%

NWL.AX

1.54%

NEU.AX

3.16%

NHC.AX

2.43%

NMG.AX

4.44%

NEM.AX

3.46%

NWS.AX

-2.51%

NXG.AX

4.38%

NXT.AX

-0.57%

NHF.AX

0.27%

NCK.AX

-0.2%

NIC.AX

NEC.AX

-1.02%

NST.AX

3.51%

NWH.AX

1.15%

NUF.AX

OCL.AX

-2.78%

OML.AX

0.96%

OPH.AX

-1.58%

OBM.AX

7.28%

ORI.AX

-1.37%

ORG.AX

-1.88%

ORA.AX

2.45%

PDN.AX

6.66%

PNR.AX

3.47%

PPC.AX

-0.57%

PPM.AX

1.26%

PRN.AX

0.93%

PPT.AX

1.24%

PCI.AX

-0.45%

PRU.AX

3.34%

PXA.AX

-2.39%

PNI.AX

-0.59%

PL8.AX

0.35%

PLS.AX

0.73%

PGF.AX

-0.6%

PNV.AX

PDI.AX

1.52%

PMV.AX

-1.05%

PME.AX

-3.66%

PWH.AX

4.11%

PYC.AX

-1.23%

QAN.AX

0.2%

QBE.AX

-2.48%

QAL.AX

-3.74%

QRI.AX

-0.32%

RMS.AX

2.65%

RHC.AX

-1.84%

REA.AX

-2.65%

RDX.AX

REH.AX

-1.06%

RF1.AX

0.28%

RPL.AX

-3.46%

RG1.AX

1.2%

RGN.AX

-0.43%

REG.AX

-1.46%

RRL.AX

6.61%

RWC.AX

-2.17%

RMD.AX

-0.68%

RSG.AX

4.26%

SGLLV.AX

-1.88%

RIC.AX

0.72%

RIO.AX

2.53%

RXL.AX

-2.6%

RFF.AX

-0.91%

RYM.AX

-1.35%

SFR.AX

2.19%

STO.AX

1.03%

SCG.AX

-1.52%

SEK.AX

-2.2%

SHV.AX

4.39%

SRV.AX

-0.81%

SSM.AX

-1.54%

SGH.AX

-0.61%

SHA.AX

-0.9%

SIG.AX

-0.34%

SLX.AX

4.84%

SGM.AX

2.26%

SDR.AX

-2.94%

SKS.AX

4.11%

SKC.AX

12.24%

SIQ.AX

-0.84%

SHL.AX

-1.52%

S32.AX

4.6%

SX2.AX

5.01%

SXE.AX

1.95%

SPK.AX

0.65%

SRG.AX

-1.68%

SBM.AX

SMR.AX

1.48%

SDF.AX

-0.19%

SGP.AX

-1.93%

SKG.AX

-2.29%

SNZ.AX

SUN.AX

0.57%

SRL.AX

-4.41%

SUL.AX

-2.06%

SLC.AX

1.88%

SNL.AX

0.61%

SYL.AX

-1.81%

TAH.AX

TEA.AX

-0.64%

TNE.AX

-2.27%

TLX.AX

-2.94%

TLS.AX

-0.4%

TPW.AX

-1%

A2M.AX

-0.43%

TLC.AX

-0.18%

SGR.AX

TVN.AX

7.27%

THL.AX

-1.25%

TWR.AX

2.97%

TPG.AX

0.57%

TCL.AX

TWE.AX

0.65%

TUA.AX

-0.9%

TCG.AX

11.21%

UNI.AX

-2.74%

VAU.AX

4.98%

VNT.AX

-2.61%

VCX.AX

-0.75%

VGN.AX

-4.24%

VEA.AX

1.63%

VUL.AX

0.76%

VSL.AX

2.11%

VYS.AX

2.04%

WA1.AX

3.32%

WGN.AX

0.5%

WAM.AX

-0.32%

WGB.AX

2.28%

WLE.AX

0.73%

SOL.AX

-0.61%

WPR.AX

-0.41%

WQG.AX

-0.49%

WEB.AX

2.97%

WBT.AX

-7.26%

WES.AX

-2.11%

WAF.AX

2.09%

WGX.AX

6.13%

WBC.AX

0.33%

WHF.AX

-0.21%

WHC.AX

1.46%

WIA.AX

2.35%

WTC.AX

-0.47%

WDS.AX

1.28%

WOW.AX

-0.53%

WOR.AX

-0.19%

XRO.AX

-2.61%

YAL.AX

4.99%

ZIM.AX

3.83%

ZIP.AX

-0.71%

POPULAR ETFs	Close($)	+/-	%
A200 ASX 200	147.10	0.56	0.38
SSO ASX Small Caps	14.24	0.08	0.56
IVV S&P 500	71.24	0.25	0.35
NDQ Nasdaq	60.17	0.17	0.28
F100 FTSE 100	15.06	0.11	0.74
ASIA Asia Tech	20.05	-0.1	-0.5
IEU Europe	97.74	0.74	0.76
IEM Emerging Markets	93.20	-0.21	-0.22
Gold Gold	54.03	0.98	1.85
ACDC Battery Tech	127.40	2.42	1.94

COMMODITIES	Close($)	-/+	%
Gold	4,117.19	40.8975	1
Silver	59.42	0.6326	1.08
Platinum	1,648.53	19.53	1.2
Palladium	1,296.00	14	1.09
Ice Brent Crude	91.64	2.42	2.71
CURRENCIES	Close($)	-/+	%
Australian Dollar	0.6995	-0.0002	-0.03
Euro	1.1408	0.0014	0.12
British Pound	1.3375	0.0004	0.03
Canadian Dollar	1.4092	-0.0015	-0.11
New Zealand Dollar	0.5816	-0.0006	-0.1
Chinese Yuan	6.7737	0.0081	0.12
Japanese Yen	163.0300	-0.13	-0.08

What We're Watching

ASX Resource stocks we own

Code	Company	Price($)	Today	1 Year Return	52 Week Range($)
A1M	Aic Mines Ltd	0.69	4.55%	112.90%	0.30 0.85
BGL	Bellevue Gold Ltd	1.32	4.78%	0.00%	0.78 2.00
BHP	Bhp Group Ltd	59.76	2.52%	44.07%	39.18 65.98
FMG	Fortescue Ltd	18.57	0.27%	7.36%	17.68 23.38
NHC	New Hope Corporation Ltd	5.49	2.43%	28.85%	3.77 6.17
WHC	Whitehaven Coal Ltd	7.64	1.46%	17.29%	5.94 9.90
NEM	Newmont Cdi	135.66	3.46%	0.00%	91.60 190.91
NXG	Nexgen Ene Cdi	13.10	4.38%	0.00%	9.98 20.47
SFR	Sandfire Resources Ltd	18.69	2.19%	64.48%	10.11 21.75

10 Top Gainers | <$500m

Code	Company	Last($)	% Chg
SKC	Skycity Entertai	0.55	12.24
TCG	Turaco Gold	0.60	11.21
IPX	Iperionx	3.51	8.67
BCI	Bci Minerals	0.45	8.54
FML	Focus Minerals L	1.90	8.29
BRE	Brazilian Rare	3.75	7.76
KCN	Kingsgate Consol	4.27	7.56
LRV	Larvotto Resourc	1.15	7.48
OBM	Ora Banda Mining	1.11	7.28
TVN	Tivan	0.30	7.27

10 Biggest Fallers | <$500m

Code	Company	Last($)	% Chg
ELS	Elsight	6.45	-10.04
WBT	Weebit Nano	5.11	-7.26
EQR	Eq Resources	0.27	-5.36
LGF	L1 Gold Fund	1.90	-5
COH	Cochlear	112.19	-4.92
AXQ	Aura Consolidate	4.00	-4.76
SRL	Sunrise Energy	14.74	-4.41
VGN	Virgin Australia	2.71	-4.24
QAL	Qualitas	3.09	-3.74
PME	Pro Medicus	173.45	-3.66

OPINION

Latest Market Matters Opinions

22/07/2026 17:31

Lynas Rare Earths (ASX: LYC) $15.38

LYC -3.63%: fell as much as 9.1% but recovered as the day progressed after June-quarter sales and production came in below expectations, while the cost of its heavy rare earths expansion increased materially. Quarterly sales revenue rose 9% to A$288.9 million, a 4 year high, but well below consensus of A$391 million. Rare earth oxide production improved 7.7% quarter-on-quarter to 3,481 tonnes, although sales volumes declined 6.1% and neodymium-praseodymium production fell 7%.

22/07/2026 17:30

Paladin Energy (ASX: PDN) $9.13

PDN +6.66%: completed the ramp-up of the Langer Heinrich uranium mine during FY26, with production reaching the upper end of revised guidance and sales accelerating strongly through the June quarter.

ACTION

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Morning report 22/07/2026

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Afternoon report 22/07/2026

Ask James ASK A QUESTION

Ask James

Question asked 17/07/2026

Current view on Worley (ASX: WOR), Whitehaven (ASX: WHC), Sandfire (ASX: SFR) and Mirvac (ASX: MGR)

Hi guys, would love to know your current view on a few positions in the growth portfolio - how you feel about how the buying thesis is playing out, your current levels of 'comfort' in these positions, I note they are all marked active, so would MM be buyers at these levels if you weren't in them already. Has anything changed? More conviction about some of theses? The positions are: WOR, WHC, SFR and MGR. Thanks so much for your analysis.

Ask James

Question asked 17/07/2026

Lithium and Junior’s

Hi M&M, Your Stock Broking Skills made me a good sum of cash on LTR, Thank you. I am wondering, is it a good time to accumulate lithium stocks? Is it a good time to buy some of the junior lithium stocks, on a short- or long-term basis, because the price of lithium has fallen. You spoke about Patriot Battery Metals Inc. (PMT) a while back stating, “If the Li price does turn the company could be on a majors shopping list”. PMT is actively developing its Corvette project in Quebec, one of the largest spodumene lithium deposits globally. If not this junior, what other juniors would you consider. Thank you.

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