Top 5 ASX 200 stocks to watch in 2026
The following five companies were the best ASX 200 performers on Wednesday as strong December 2025 quarterly results drove investor confidence which led to massive share price gains.
Emerald Resources NL (ASX: EMR)
surged 13.23% on Wednesday as it announced a 27% increase in the Mineral Resource at its 100% owned Memot Gold Project in Cambodia to 1.7 million ounces.
The updated Mineral Resource now includes a higher-grade component of 1.24 million ounces at 1.8 g/t gold which improves the overall quality and potential project economics.
More than 70% of the total resource is classified in the Indicated category which provides a strong foundation for estimating a maiden ore reserve.
The company plans to deliver a maiden ore reserve next which is expected to underpin final development studies and support a future construction decision while cash, bullion and listed investments stood at $372.7 million at the end of the December 2025 quarter.
During the December 2025 quarter, Okvau gold production reached 25,030 ounces and gold sales were 20,410 ounces at an average realised price of US$4,118/oz.
Paladin Energy Limited (ASX: PDN)
rose 13.14% on Wednesday after the company released a strong December 2025 quarter update which highlighted continued operational momentum at the Langer Heinrich Mine in Namibia.
Uranium production increased to 1.23 million pounds of uranium oxide which represents a 16% quarter-on-quarter increase driven by higher ore feed grades and plant recoveries that reached 91%.
Sales volumes of 1.43 million pounds were achieved at an average realised price of US$71.8 per pound which reflects favourable contract exposure along with positive uranium pricing environment.
The company ended the quarter with a very strong balance sheet holding US$278.4 million in cash and investments while management reaffirmed that the ramp up to full mining and processing operations remains on track by the end of FY26 with full operations planned for FY27.
Westgold Resources Limited (ASX: WGX)
climbed 9.61% on Wednesday after the company reported a very strong December 2025 quarter with record production levels and robust cash generation.
Gold production reached a record 111,418 ounces which represents a 33% increase quarter-on-quarter and was supported by higher grades and improved mill throughput.
During the quarter, Westgold sold 115,200 ounces at an average gold price of $6,356 per ounce which generated $732 million in revenue and the company closed the period with $654 million in cash, bullion and investments while being 100% debt free.
Management reaffirmed FY26 production guidance of 345,000 to 385,000 ounces and outlined a clear pathway to increase annual production to around 470,000 ounces by FY28.
Evolution Mining Limited (ASX: EVN)
surged 9.47% on Wednesday after the release of a strong December 2025 quarterly update which highlighted record cash flow and solid operational execution.
The company delivered record operating mine cash flow of $1.1 billion for the quarter which represented a 57% increase from the previous quarter driven by higher gold and copper prices.
Net mine cash flow reached a record $727 million and Evolution remains on track to achieve FY26 production guidance of 710 to 780 thousand ounces of gold and 70 to 80 thousand tonnes of copper.
The balance sheet strengthened further as cash increased to $967 million and gearing improved to just 6% which provides flexibility to fund growth initiatives and manage short-term market volatility.
Bellevue Gold Limited (ASX: BGL)
surged 8.43% on Wednesday after it announced a strong December 2025 quarter which was supported by rising grades and higher production.
Gold production increased to 32,031 ounces as mined and processed grades lifted with operations moving into higher grade areas of the mine.
Free cash flow before voluntary hedge pre deliveries rose to $62 million which supported further early reduction of the hedge book and increased exposure to spot gold prices.
Cash and gold on hand increased to $165 million and the company remains on track to meet FY26 production guidance of 130–150koz along with AISC guidance of $2,600–2,900/oz.
(Source: Company Reports)
Get Your Free Report on Top 5 ASX Stocks on WhatsApp
Instant Access. No Credit Card Required.
Receive on WhatsApp
Checkout Our Recommendation for free - 7 days free trial
Start Free TrialASX Stock Research & Recommendations — 7‑day free trial
Independent, analyst‑driven insights.
- Stock of the week report
- Daily Analysis Report
- No credit card required
Get Your FREE Report
Discover the Top ASX Stocks to Invest In 2026!
Expert Analysis of Top-Performing ASX Stocks
Market Insights and In-Depth Research
Buy, Sell, And Hold Recommendations
Almost There!
Enter your details to download the report
Success!
Preparing your download...
Latest Article
Disclaimer
Veye Pty Ltd(ABN 58 623 120 865), holds (AFSL No. 523157 ). All information provided by Veye Pty Ltd through its website, reports, and newsletters is general financial product advice only and should not be considered a personal recommendation to buy or sell any asset or security. Before acting on the advice, you should consider whether it’s appropriate to you, in light of your objectives, financial situation, or needs. You should look at the Product Disclosure Statement or other offer document associated with the security or product before making a decision on acquiring the security or product. You can refer to our Terms & Conditions and Financial Services Guide for more information. Any recommendation contained herein may not be suitable for all investors as it does not take into account your personal financial needs or investment objectives. Although Veye takes the utmost care to ensure accuracy of the content and that the information is gathered and processed from reliable resources, we strongly recommend that you seek professional advice from your financial advisor or stockbroker before making any investment decision based on any of our recommendations. All the information we share represents our views on the date of publishing as stocks are subject to real time changes and therefore may change without notice. Please remember that investments can go up and down and past performance is not necessarily indicative of future returns. We request our readers not to interpret our reports as direct recommendations. To the extent permitted by law, Veye Pty Ltd excludes all liability for any loss or damage arising from the use of this website and any information published (including any indirect or consequential loss, any data loss, or data corruption) (as mentioned on the website www.veye.com.au), and confirms that the employees and/or associates of Veye Pty Ltd do not hold positions in any of the financial products covered on the website on the date of publishing this report. Veye Pty Ltd hereby limits its liability, to the extent permitted by law to the resupply of services.
