ALS Poised to Benefit From Major Rise in Exploration Spending -- Market Talk

Dow Jones
03/04

2258 GMT - ALS's bull at Bell Potter is excited by the exploration budgets of global miners and their mid-cap counterparts. Analyst Joseph House says exploration spending by these companies could rise by 26% this year. "For context, we have not seen this level of growth since 2021-2022," Bell Potter says. "Majors have historically comprised 60-80% of total geochemistry samples processed through the cycle." The bank points out that revenue from ALS's Commodities business rose by more than 30% annually in 2021-2022. Sample volume growth peaked at more than 30%. "Geochemistry sample volume growth was low double-digit in 1H FY26 (six months ending September 30), with an acceleration into period-end," Bell Potter says. Its price target rises 12% to A$28.00/share. ALS ended Tuesday at A$25.59. (david.winning@wsj.com; @dwinningWSJ)

 

(END) Dow Jones Newswires

March 03, 2026 17:58 ET (22:58 GMT)

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