Best 3 ASX shares to buy in May

These three shares Fortescue Ltd, ANZ Group Holdings Limited and Westpac Banking Corporation are showing steady growth with improving performance and ongoing expansion plans.
 

Best 3 ASX shares to buy 

Fortescue Ltd (ASX: FMG) 

ANZ Group Holdings Limited (ASX: ANZ) 

Westpac Banking Corporation (ASX: WBC) 

Fortescue Ltd (ASX: FMG) 

Fortescue Ltd (ASX: FMG) on 24 April 2026 shared its March 2026 quarterly report. The company shipped 48.4Mt in Q3 FY26. This raised nine month shipments to 148.7Mt which is a record and 4 percent higher than last year. Iron Bridge shipments were 2.0Mt but weather events affected output. The company kept full year shipment guidance at 195–205Mt though Iron Bridge range was lowered.

Hematite C1 cost came to US$18.29 per tonne in the quarter which is lower than the previous quarter. The nine month cost stood at US$18.52. Realised price for Hematite was US$92 per tonne. Iron Bridge concentrate achieved US$122 per tonne which is above index levels.

Cash balance reached US$4.2 billion while net debt was US$1.6 billion. Spending included dividends and capital work. The company completed Alta Copper purchase and started major wind and solar projects in Pilbara.

Mining and processing volumes improved across sites. Weather disturbances affected Iron Bridge output. A green metal project is expected to produce first hot metal in June quarter 2026. 

ANZ Group Holdings Limited (ASX: ANZ) 

ANZ Group Holdings Limited shared its half year result on 1 May 2026 for the period ending 31 March 2026. Statutory profit was $3,650 million and cash profit reached $3,780 million. Cash profit rose 70 percent from the prior half and 14 percent without one off items. Return on tangible equity moved up to 11.6 percent. 

Performance improved across key areas with better returns and stable margins despite strong competition. Cost to income ratio was 49.4 percent. Lending and deposits saw moderate growth. Institutional and New Zealand units performed well while changes in retail and business banking continue.

The bank continued its strategy work with leadership reset and simpler structure. Progress includes customer platform plans and Suncorp Bank integration by June 2027. Most planned role reductions were completed by April 2026. The capital and liquidity stayed strong with solid ratios above limits.

Westpac Banking Corporation (ASX: WBC) 

Westpac Banking Corporation (ASX: WBC) on 5 May 2026 shared its half year result for the dated ending 31 March 2026. The bank showed stable progress whereas continuing future investment. Balance sheet remained strong. It increased provisions due to global uncertainty. The customer stress levels reduced and overall conditions stayed stable.

Lending and deposits each grew 7 percent over the year. Housing loans rose with stronger direct lending share. Business lending increased 16 percent. Deposits improved across household and business accounts. New transaction accounts also rose gradually.

The bank continued work on systems and structure changes. The UNITE program moved into execution phase with a major platform migration completed. Regional presence expanded with new service centres and continued branch support. Agribusiness lending recorded strong yearly growth.
The outlook shows pressure from global conflict and rising energy prices. Focus remains on reform, productivity growth and use of new technology.

(Source: Company Report)