Azzet reports on three stocks with price moving updates today.
Fortescue Metals lifts after completing Alta Copper acquisition ~
Shares in Fortescue Metals (ASX: FMG) were up around 2% at the open before paring gains of 0.3% by 1:55 pm AEDT (2:55 am GMT) after the iron ore leviathan flagged that its wholly owned subsidiary, Nascent Exploration, has completed its acquisition of Alta Copper, taking full ownership of the Cañariaco copper project in northern Peru.
The market clearly likes FMG’s plans – like rivals BHP (ASX: BHP) and Rio Tinto (ASX: RIO), to decouple its reliance on iron ore, which still accounts for over 90% of total revenue.
Plans by FMG to boost its copper – now a core pillar of its growth and diversification strategy - also coincide with a 35% increase in the copper price over the last 12 months to US$12,862 per tonne due to supply shortages and rapidly increasing demand from new technologies.
According to J.P. Morgan and Citigroup the copper price will peak at between US$12,500 and $15,000 per tonne on the back of structural supply deficits and surging demand from artificial AI and the energy transition drive the market.
Alta Copper shareholders will receive C$1.40 per share (AU$1.45) in cash, which implies a total equity value of around $139 million.
Covering 91 square kilometres, the Canariaco Copper Project - a highly prospective tenure" with several deposits - is primarily a long-term strategic investment to help FMG diversify away from pure iron ore and into copper, rather than an immediate boost to short-term earnings.
With Alta Copper still an exploration-stage company, it did not generate any revenue last year (2025) and reported a net loss of US$1.83 million for the FY24.
Commenting on today’s update, FMG’s growth and energy CEO, Gus Picho, said the acquisition of Alta Copper also builds on its existing critical minerals exploration activity.
“In particular, the Cañariaco Copper Project strengthens Fortescue’s copper portfolio and provides exposure to a significant undeveloped resource within an emerging porphyry corridor in Northern Peru,” he said.
“Our immediate focus will be on technical reviews, community engagement and advancing the studies required to inform future development decisions.”
Late last month, FMG treated shareholders to a mouth-watering dividend of 62 cents, up from 50 cents a year ago, after reporting a 23% rise in half-year net profit to US$1.9 billion.
Buoyed by a record 100.2 million tonnes of iron ore being shipped during the half, at an average price of $US91 a tonne, the miner posted revenue of $8.44 billion – up 10% year-on-year.
The cost to produce a tonne of the key steel-making ingredient was up 5% to US$19.10.
Fortescue Metals has a market cap of $59.4 billion; the share is up 21% on one year and down 11% in the last month.
The stock’s shares appear to be in a near-term downtrend, confirmed by the relationship between the 5 and 20-day moving averages.
Consensus is Moderate Sell.
Orica dips on 1H business update
Shares in Orica (ASX: ORI) were trading 2.6% lower this afternoon, with the market clearly unhappy with the explosives maker’s mixed bag 1H business update.
Despite positive earnings guidance, management told the market to expect lower net operating cash flow for the FY26, and this underpinned today’s selloff.
Due to strong demand for blasting products, digital services and mining chemicals support performance, Orica expects first-half earnings to be slightly higher than a year earlier.
While specialty mining chemicals are expected to increase by around 15% on strong demand for sodium cyanide in the gold sector, digital solutions earnings are expected to rise around 20% from the previous period.
But what the market reacted negatively to was the expected impact of foreign exchange movements, U.S. litigation costs and a supply disruption - linked to an outage at CF Industries’ Yazoo City plant – on net operating cash flow for the half and FY26, both of which are expected to be lower than in FY25.
The company expects 1H FY26 significant items to cut net profit by between $45 million and $60 million, including litigation costs, higher supply costs and restructuring charges tied to the new cost program.
Commenting on today’s update, management told the market that while performance reflects strong demand for its premium blasting products and advanced blasting technologies, prevailing headwinds - including a stronger A$ and lower Indonesian coal production quotas - are expected to weigh slightly on earnings from the Blasting Solutions division.
“Despite a more volatile operating environment and increasing geopolitical complexity, we have continued to support customers by leveraging our global footprint, maintaining continuity of supply and focusing on operational excellence,” said Orica CEO Sanjeev Gandhi.
“Whilst market conditions remain dynamic, we’re confident in the strong fundamentals of our business and our ability to continue to execute our strategy.”
Gandhi also reminded the market that Orica has launched a company-wide cost reduction program targeting at least $100 million in annualised savings over the next three years as it prepares for the next phase of growth.
Given that Orica’s products are not shipped via the Strait of Hormuz or neighbouring regions, Gandhi also reassured the market that Orica wasn’t experiencing immediate constraints related to the U.S.-Israel war with Iran.
Orica Limited has a market cap of $9.8 billion; the share price is up 21% in one year and down 18% in the last month.
While the stock’s 200-day moving average is trending higher, there is significant evidence that the long-term bullish trend is near an end.
Consensus is Strong Buy.
Savannah Gold Fields leaps after updating on Georgetown pours
Shares in Savannah Gold Fields (ASX: SVG) were up 7.7% after the gold and silver explorer updated its gold production at its Georgetown Gold Processing Plant in Far North Qld through February and early March.
Multiple doré pours confirmed 289.8 ounces of gold and 95.3 ounces of silver from an aggregate weight of 12.963 kg poured in February alone.
Mint outturn is still awaited for the mid-March doré pours.
Investors were clearly encouraged to see that the miner was delivering on its stated aim of becoming a significant gold producer in the region.
Since restarting operations in November 2025, the current production campaign has delivered 1,223.7 ounces of gold and 805.9 ounces of silver.
An average gold price of $6,899 per ounce and an average silver price of $119 per ounce saw the miner generate $8.54 million in revenue.
The miner recently commenced a six‑week maintenance program at the Georgetown plant, with mining and processing expected to restart mid‑April with feed from the Big Reef and Big Ben deposits until Agate Creek ore comes online in 2Q FY26.
Meanwhile, Savannah is also evaluating further open‑pit mining at the Electric Light and Red Dam deposits and a potential underground operation at Electric Light and has flagged plans to extend mine life and sustain production levels across its Georgetown hub.
During the quarter ending 31 December 2025, the miner completed a share placement of 1.0 billion new fully paid ordinary shares at an issue price of 1.5 cents per new share to raise $15 million before costs.
Cash on hand as at 30 January 2026 was $2,175,000.
Savannah Gold Fields has a market cap of $32 million; the share price is up 7% in one year and up 7% in the last week.
Sentiment among investors has been weak, resulting in a bearish-sloping 200-day moving average.
Consensus does not over this stock.
This article does not constitute financial or product advice. You should consider independent advice before making financial decisions.
