Hot Stocks: Australian Agricultural Company, Fenix Resources, Island Pharmaceuticals

Markets have started the week with a mild risk-on tone as investors largely look past the US capture of Venezuelan President Nicolas Maduro and refocus on economic fundamentals, with Wall Street ending the first trading day of 2026 mixed but steady — the S&P 500 rose 0.19% to 6,858.47 on strength in semiconductor stocks, the Dow gained 0.66%, and the Nasdaq slipped 0.03% after earlier gains, while Nvidia rose more than 1%, Micron jumped over 10%, and Tesla fell more than 2% after missing delivery expectations. Australian futures point to the S&P/ASX 200 opening about 11 points, or 0.13%, higher. Oil prices have remained contained near US$60 a barrel, with analysts noting Venezuela’s output accounts for less than 1% of global supply and any disruption is likely to be absorbed by an oversupplied market, while longer term some see the potential for higher Venezuelan exports if sanctions are eventually lifted. Attention now turns to macro data, with the US non-farm payrolls report and Australia’s monthly CPI print due this week and likely to influence expectations for interest rates.

Australian Agricultural Company (ASX:AAC) said flooding in north-western Queensland has affected three of its 27 properties, with around 55,000 head of cattle located on the impacted sites. The company said staff and families are safe and its immediate focus is on animal welfare and managing operational impacts, but warned it is too early to assess damage to livestock and infrastructure. While AACo does not insure its herd or infrastructure against floods, it said its balance sheet remains strong and it can continue to meet supply commitments, though the financial impact on earnings for the March 2026 period is still being assessed and could be material.

Fenix Resources (ASX:FEX) reported a record December quarter, shipping 1.2 million wet metric tonnes of iron ore and lifting cash at bank to about $79m, an increase of roughly $21m over the quarter after capital expenditure, debt repayments and tax. The company said the result reflected higher production volumes, efficient haulage through its Newhaul logistics business and streamlined port operations at Geraldton. Fenix reaffirmed its upgraded FY26 sales guidance of 4.2–4.8 million tonnes, with first-half shipments positioning it to meet full-year targets under normal operating conditions.

Island Pharmaceuticals said the US Food & Drug Administration is continuing its review of the company’s submission seeking clarification on the development pathway for Galidesivir, with no adverse feedback and no requests for additional data in the most recent correspondence. The update follows prior FDA confirmation that Galidesivir is eligible for approval under the Animal Rule and for a Priority Review Voucher. Island said it is continuing preparatory work, including study planning and engagement with US government stakeholders, while awaiting further FDA guidance that will inform upcoming clinical trial initiatives targeting Marburg virus.