Australasian Equities

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Australasian Equities

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Core

high

Escaping Turbulent Skies Qantas Airways (ASX: QAN) is rebuilding steadily, with stronger profits, better operations and a clearer fleet plan, but much of the early recovery is already priced in. The shift to durable growth needs to impress to lift the stock further. In our last technical update back on the 12th of November, we noted that “Qantas has made a new record high above $12.50 and then encountered overhead resistance. The correction in Qantas since our September 1st update has been swift.

Genesis Minerals

Speculative

high

The Rumour Mill Recently, media reports surfaced in The Australian suggesting that Capricorn Metals (ASX: CMM) had sounded out Genesis regarding a potential merger. On paper, this would be a “Dream Team” scenario with great assets and excellent track records. A merger would create a budding tier 1 player with a fortress balance sheet. While investors shouldn’t buy or hold GMD (or CMM) solely on M&A arbitrage hopes, it does remain a potential factor. The elevated gold price environment will continue to

Praemium

Core

medium

Getting its House in Order Praemium (ASX: PPS) is tightening their footing after closing out the OneVue earn-out with no further payments due, clearing a lingering risk while building out both the SMA and HNW capabilities, which advisers actually use. Spectrum and the expanding alternative investments menu continue to draw higher-value flows, but the stock still trades like a recovery story that needs steadier execution before investors treat the platform as running on firmer ground. In our last tech update on the

Collins Foods

Core

medium

A Zinger of an outcome Collins Foods (ASX: CKF) delivered a sharper, more disciplined HY26, lifting revenue to a record $750 million and restoring margin momentum on the back of steady KFC traffic, tight cost control and a well-timed product pipeline led by the Zinger Banh Mi. The result shows a business quietly regaining rhythm: Australia remains the earnings anchor, Europe is accelerating, and upgraded NPAT guidance signals confidence. While wage remediation, cost inflation and fragile consumer sentiment still cast a shadow, the broader

APA Group

Core

medium

“Playing Its Cards Right” With a Cleaner, Higher-Return Portfolio APA Group (ASX: APA) is reshaping their portfolio by securing the 400MW Brigalow Peaking Power Plant while exiting the low-return Networks business to concentrate on higher-value, inflation-linked gas and power infrastructure. Brigalow’s structure – an 80/20 JV with CS Energy and a 25-year predominantly fixed-revenue offtake – offers contracted returns that echo APA’s core pipeline model, even as the A$1 billion build carries execution and approval risk. The move sharpens the company’s role

Rio Tinto

Core

medium

Sharpening Focus for a New Era Rio Tinto appears to be moving with speed under new Chief Executive Simon Trott to simplify its asset portfolio. The latest signal of this disciplined approach is the news that the mining giant is reportedly preparing to divest its US boron operations. While these assets – spanning mining in the Mojave Desert and port facilities in Los Angeles – are historically significant and cater to about 30% of global boron supply, they are ultimately non-core

QBE Insurance

Core

medium

Keeping Its Hand Steady as Markets Throw Curveballs QBE Insurance (ASX: QBE) turned in a steady 3Q25, with mid-single-digit premium growth, cleaner catastrophe results and strong investment income keeping full-year guidance intact, even as softer headline rate increases spooked the market and dragged the stock to a seven-month low. Pricing may be normalising, but underlying momentum, disciplined underwriting and a below-budget ‘cat’-astrophe bill show the engine is still purring, while a A$450 million buyback signals management confidence despite the recent market

HUB24

Core

medium

Setting the Pace as Advice-Tech Shifts Gears HUB24 (ASX: HUB) used their Investor Strategy Day and 2025 AGM to sharpen a multi-year plan built around scale, adviser productivity and deeper integration across platform, tech and data assets, focusing on tools like Class, myprosperity, Engage and the newly launched myhub pull more of the advice workflow into one ecosystem. Management reaffirmed their FY27 FUA targets, pointed to record FY25 performance as proof they can fund innovation without losing financial discipline, and framed the group

About these archived stock reports

These are archived Fat Prophets equity research stock reports and share analysis. They do not constitute current investment advice, financial product advice, or a recommendation to buy, sell or hold any financial product. They are provided for historical reference only, and reflect the market conditions, company information, forecasts and opinions available at its original publication date. The information may no longer be current or applicable. Past performance is not a reliable indicator of future performance.

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