ASX Mining Surge Leads Weekly Gains | PLS, MIN, AMC, FMG & BHP Rally on Lithium & Iron Ore

ASX_Stars
03-27 15:51

The S&P/ASX 200 closed 9.4 points lower, down 0.11%. But as of the close on Friday, the index closed at 8,516.30, up 2.81% in the past 5 days.

1. $PLS Group Ltd(PLS.AU)$ +21.75%

Pilbara Minerals (lithium-focused) benefited from lithium price recovery signals and sector momentum.

Top drivers:

  1. Lithium spot prices rebounded (spodumene ~US$2,200–2,400/t range in March 2026 after earlier lows), sparking short-covering and speculative buying in ASX lithium names.

  2. Strong H1 FY26 results momentum carried over: sales volume +7%, realised price +40% to US$965/t, unit costs down 6%, revenue +47%, underlying EBITDA +241%.

  3. Analyst upgrades and bullish lithium cycle forecasts (earnings growth acceleration expected into 2026).

  4. Broader mining rally on March 25–26 (ASX materials sector strong) with PLS frequently cited among standout lithium performers in recent sessions.

Key latest data:

  • TTM P/E: negative (–141 to –164 range, reflecting prior cycle losses; forward expectations positive).

  • P/S: ~14.5–16.55.

  • 50-day MA: ~4.61; price broke above it recently with strong momentum (stock traded ~4.92–4.97 on March 26).

2. $MINERAL RESOURCES LTD(MIN.AU)$ +9.67%

Diversified miner (iron ore, lithium, mining services) rode the general mining rebound.

Top drivers：

  1. Strong sector-wide mining gains on March 25–26 driven by firmer iron ore and commodity prices.

  2. Positive H1 earnings momentum (reported earlier in March 2026): sales A$3.052 billion, return to profitability (net income A$495 million vs prior loss).

  3. Broader risk-on sentiment from Iran ceasefire hopes and softer Australian inflation (Feb CPI 3.7% vs 3.8% expected), boosting resource stocks.

  4. Recent 90-day share price strength (+26.5%) and momentum trading in undervalued small-to-mid cap resources.

Key latest data:

  • TTM P/E: ~27.92.

  • Strong recent profitability rebound supporting valuation re-rating.

  • Trading with positive momentum amid resources sector outperformance.

3. $AMCOR PLC-CDI(AMC.AU)$ +7.26%

Global packaging company (non-mining outlier in the list) gained on company-specific operational strength amid broader market positivity.

Top drivers：

  1. Strong fiscal 2026 performance and raised guidance, with Berry Global integration ahead of plan and synergy realization exceeding targets.

  2. High trading volume spike (271% above 90-day average in recent sessions), reflecting investor confidence in execution.

  3. Disciplined cost control and adjusted EPS growth in a challenging volume environment; Q2 net sales and EBITDA significantly up YoY in prior updates.

  4. Attractive dividend yield and positioning in sustainable packaging trends, drawing buying interest.

4. $FORTESCUE LTD(FMG.AU)$ +6.49%

Iron ore and green energy-focused miner gained on iron ore strength and recent results.

Top drivers：

  1. Firmer iron ore prices and overall mining sector rally on March 25–26.

  2. Record H1 FY26 iron ore shipments (100.2 Mt), revenue US$8.4 billion (+10%), underlying EBITDA US$4.5 billion (+23%, 53% margin), and net profit up 23%.

  3. Increased interim dividend (A$0.62/share, +24%), rewarding shareholders amid strong cash flow.

  4. Progress on diversification (copper acquisitions, decarbonisation/green energy projects) supporting long-term narrative.

5. $BHP GROUP LTD(BHP.AU)$ +6.11%

Diversified major (iron ore, copper) participated in the broad mining rebound.

Top drivers：

  1. Sector momentum from stronger commodity prices (iron ore/copper) and risk-on sentiment on March 25–26.

  2. H1 FY26 strength: copper earnings up significantly (now a major profit contributor), overall profit beats, and 46% interim dividend increase in recent results.

  3. Strategic copper pivot (record production, guidance upgrades to 1.9–2.0 Mt for FY26) aligning with AI/renewables demand.

  4. Broader ASX mining outperformance (materials sector +4.41% in key sessions) with BHP as a bellwether.

Key latest data:

  • TTM P/E: ~15.87–17 (near historical median).

  • Forward P/E lower (~13.87 in some reports); copper exposure driving re-rating.

  • 50-day MA crossed positively in recent weeks; stock showed resilience with all-time high touches earlier in 2026.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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