Stocks making the biggest moves at noon: MinRes, NAB, Southern Cross, Gold miners and more

These are the ASX companies and sectors making headlines in afternoon trade.

Navigator Global (ASX: NGI) – Shares in the alternatives asset manager rallied 15.5% after the company reported 16% EBITDA growth in 1H25 to US$41.1 million. Management said they expect FY25 earnings to be "higher than FY24."

Southern Cross Electrical (ASX: SXE) – Shares rallied 12.9% after the company reported a record half-year NPAT of $16.2 million, up 67.8% on the prior corresponding period. The company finished the year with a record cash position of $114.8 million and no debt. Management said the strong balance sheet supports further acquisitions, which are being actively explored.

Retail Food Group (ASX: RFG) – Shares rallied 12.2% after the company reported first half statutory net profit growth of 73.8% to $7.3 million. RFG revealed an agreement with Restaurant Brands International to introduce their fast-growing sandwich brand Firehouse Subs into Australia.

Ventia Services (ASX: VNT) – Shares rallied 7.5% after the company reported better-than-expected full-year earnings and an in-line dividend. Key highlights from the result include:

• Revenue up 8% to $6.1 billion

• Underlying NPATA up 16% to $228 million (0.4% ahead of consensus)

• Full-year dividend of 20 cents per share (in-line)

• FY25 guidance of 7-10% NPATA growth (vs. 7.8% consensus)

The Lottery Corp (ASX: TLC) – Shares rose 3.5% after the company posted a mixed half-year result. The figures below are compared to Jefferies' forecasts, which are slightly above consensus. Analysts view the 2.4% like-for-like Powerball sales growth as a positive indicator for future margin expansion.

• Revenue down 6% to $1.77 billion (7% miss)

• EBTIDA down 7% to $369 million (6% miss)

• Underlying NPAT down 10% to $176 million (8% miss)

• Interim dividend flat at 8 cents per share (7% miss)

Gold miners are broadly higher after gold prices rallied 1.27% overnight to US$2,931 an ounce. Today's top gainers include St Barbara (+3.9%), Pantoro (+3.5%), Resolute Mining (+3.4%), Westgold (+3.0%) and Perseus Mining (+2.8%).

Step One Clothing (ASX: STP) – Shares tumbled 22% despite the company reporting 1H25 results that broadly met analyst expectations. Net profit rose 15.1% to $8.1 million or 7.8% ahead of Morgans expectations of $7.6 million. The interim dividend of 4.4 cents per share was also ahead of their forecasts for 4.2 cents. Key areas of concern include:

• Operational metrics were poor, including a 2.4% year-on-year drop in website visits, 11% drop in customer orders and 28% slump in new customers

• The interim dividend represents a payout of 100% of earnings, which suggests a strong focus on shareholder returns rather than reinvestment for growth

• There was no FY25 guidance

Mineral Resources (ASX: MIN) – MinRes shares dipped 10% after the company unexpectedly released its 1H25 results late on Tuesday at 7:43 pm AEDT. The key highlights include:

• Revenue down 9% to $2.29 billion

• Underlying net loss of $196 million (1H24: $196 million profit)

• Statutory loss of $807 million, including $352 million of post-tax impairments largely related to Bald Hill

• The company downgraded Onslow Iron’s attributable volumes to 8.8-9.3Mt (previously 10.5-11.7Mt) and raised cost guidance to $60-70/t (previously $58-68/t

NAB (ASX: NAB) – Shares tumbled 6.1% after the bank's Q1 update fell short across several key metrics. Credit quality disappointed, coming in worse than expected, while the CET1 ratio also missed estimates, raising concerns about future buybacks. NIM was softer than anticipated, with margins pressured by deposit trends, rising lending costs, and heightened competition.

Hub24 (ASX: HUB) – Shares tumbled 3.5% following several downgrades in response to Tuesday's half-year results While the 1H25 numbers met analyst expectations, higher operating costs and an unexpected tax increase tempered the overall result. Ord Minnett downgraded the stock to Hold from Buy, while analysts at Wilsons also cut their rating to Market-weight from Overweight.