SYDNEY, Jan 15, 2026, 17:20 AEDT — The market has closed.
- Macquarie shares ended down 0.3%, lagging behind the broader market’s gains.
- Goldman Sachs raised its rating based on valuation, while Morgan Stanley maintained an equal-weight stance.
- Investors are gearing up for Macquarie’s operational briefing on Feb. 10.
Shares of Macquarie Group slipped 0.3% to close at A$206.51 on Thursday, after fluctuating between A$204.42 and A$208.12 during the session. (StockAnalysis)
The dip happened even though Australian stocks closed at their highest level in over two months, driven by miners benefiting from a surge in base and precious metals prices. “Valuation fatigue in banks and strong tailwinds for miners are prompting a rotational positioning into the latter,” said Marc Jocum, senior product and investment strategist at Global X ETFs Australia.
Broker opinions shifted toward a more positive tone. Goldman Sachs lifted Macquarie’s rating to Neutral from Sell and bumped up its 12-month price target to A$208.73. Morgan Stanley held steady with an equal-weight rating and set its target at A$221, MarketScreener reports. (A price target reflects an analyst’s fair value estimate; “equal-weight” usually implies expected performance on par with peers.)
This is crucial now since Macquarie’s earnings fluctuate with its markets-facing units—commodities and capital markets—where shifts in prices and risk appetite can rapidly alter sentiment.
Deal chatter picked up pace as Rio Tinto brought Macquarie into the fold alongside JPMorgan and Evercore to advise on a possible Glencore acquisition, according to a source familiar with the talks who spoke to Reuters. This move could shake up the global mining landscape. (Reuters)
For Macquarie, landing an advisory mandate signals potential gains if confidence in the boardroom rebounds and deals close. It also highlights the risk inherent in fee-based businesses: no fees flow until talks turn into signed contracts.
The risk cuts both ways. If commodity prices slide or if equity and debt markets get volatile again, Macquarie’s units that usually benefit in stronger markets could end up weighing on its results.
Investors should mark several key dates in the coming weeks. Macquarie’s schedule highlights an operational briefing on Feb. 10, with full-year results due May 8. Shares will then go ex-dividend on May 18, meaning they’ll trade without entitlement to the upcoming payout. (Macquarie)
