Best ASX Gainers Today

The following ASX-listed companies are advancing well-positioned businesses across aluminium, gold and metallurgical coal, each delivering meaningful operational progress and capital management activity in 2026 that warrants close investor attention.

Alcoa Corporation (ASX: AAI)

Alcoa Corporation (ASX: AAI) is up by more than 7% as on 25 May 2026 and climbing 23.96% year to date in 2026 and doubling in value over the past twelve months with a 129.47% gain, they're basically in the business of pulling bauxite out of the ground, turning it into alumina, and then into aluminium, with operations spread across Australia, Brazil, Canada, Iceland, Norway, Spain and the United States. All of that adds up to a market cap sitting at roughly A$24.62B.

The Q1 2026 numbers that landed on 16 April 2026 gave revenue hit US$3,193M with net income at US$425M, almost double the US$213M from the quarter before. Adjusted EBITDA excluding special items pushed up to US$595M. Aluminium production moved in the right direction at 607KT, though alumina had a bit of a wobble, falling 5% from the prior quarter to 2.4M metric tonnes. The culprits were pretty understandable though, maintenance work at the Australian refineries and some genuinely bad timing with the Middle East conflict and Cyclone Narelle both chewing into Australian export shipping at the same time.

Shareholders also got, with the board declaring a quarterly cash dividend of US$0.10 per share, heading out the door on 5 June 2026 to anyone on the register as at 22 May 2026. April 2026 Alcoa finally got its San Ciprian smelter in Spain back up and running, which had been a long time coming as part of the company's operational recovery efforts.

Alumina production is expected to land somewhere between 9.7 and 9.9M metric tonnes, with shipments in the 11.8 to 12.0M metric tonne range. Aluminium smelter production is pegged at 2.4 to 2.5M metric tonnes and shipments are forecast between 2.6 and 2.7M metric tonnes.

Ramelius Resources Limited (ASX: RMS)

Ramelius Resources Limited (ASX: RMS) is a Western Australian mid-tier gold producer that has quietly built itself into a serious operation, with a market cap of around $6.07B. The share price was up by around 5% on 25 May 2026. The company runs the Mt Magnet gold mine and processing hub. The roadmap from here is pretty clear cut, with Ramelius targeting production of 360,000 to 400,000 ounces per year by FY30 over a defined five-year growth pathway.

The March 2026 quarter was a decent one despite a few weather-related headaches. Ramelius pulled out 38,093 ounces of gold at an AISC of $2,211 per ounce, pushing year-to-date production to 138,716 ounces.

Operating cash flow for the quarter was a healthy $171.3M with underlying free cash flow of $101.9M after putting $51.2M into growth capital and $26.4M into exploration. The balance sheet looked comfortable too, with cash and gold holdings closing the quarter at $606.5M. The production coming in a touch softer than recent periods wasn't anything structural though rainfall and road closures at Edna May and Cue simply made it harder to get ore to the plant. The silver lining is that high-grade stockpiles built up during the disruption and are sitting there ready to be processed in the June quarter.

FY26 production guidance stayed put at 185,000 to 205,000 ounces, though AISC guidance was nudged up to $1,900 to $2,050 per ounce from the previous $1,700 to $1,900 per ounce range. That revision wasn't bad news it actually reflects the fact that Dalgaranga hit commercial production earlier than expected, which pulled some costs forward. The standout moment of the quarter came on 13 March 2026 when the first stope at the Never Never orebody was fired ahead of schedule and came back above grade expectations at 7.41 grams per tonne gold.

On the capital returns side, the $250M on-market share buyback announced back in December 2025 was 44% done at quarter end with $110.2M already executed. Ramelius has handed back $429.5M to shareholders through dividends and buybacks since FY22, with a cumulative total of 28,797,528 shares repurchased under the buyback program as at 21 May 2026.

Coronado Global Resources Inc (ASX: CRN)

Coronado Global Resources Inc (ASX: CRN) is an Australian-listed global metallurgical coal producer with a market capitalisation of approximately $360.43M. The company owns and operates the Curragh mine in the Bowen Basin of Queensland. The company saw the surge of around 20% in its stock price as on 25 May 2026.

Coronado for the first quarter of 2026 reported total revenues of US$467.2M, up modestly year on year as stronger metallurgical coal pricing offset a shift toward more thermal volumes. Group average realised pricing improved 9.1% to US$133 per tonne, with metallurgical coal pricing rising 11% to US$165 per tonne.

 In April, the PLV Mid index found support around US$230 per tonne, and management described Coronado’s diversified portfolio with low-cost PLV-linked production in both Australia and the United States as well positioned to benefit from continued price strength.

Adjusted EBITDA for the quarter was a loss of US$89.4M. The Logan mine is now fully idled and Coronado is actively considering disposal options. Net loss for the quarter widened to US$318.6M, primarily driven by the Logan impairment. Cash at quarter end was US$121.0M and net debt reached US$582.4M. The Stanwell prepaid coal supply agreement reset in the quarter, adding approximately US$50M of cash and structurally improving future cash generation. 

The company continues to pursue a range of liquidity preservation and debt reduction initiatives to manage its balance sheet through the current capital investment phase. Management’s focus remains on completing the expansion program at Curragh, optimising costs at Buchanan, and positioning the business to maximise cash generation as metallurgical coal pricing continues to recover from its 2024 lows toward longer-term equilibrium levels supported by global steel demand.

(Source: Company Reports)