In this article, we will discuss the 10 Best Long Term ASX Stocks to Buy Now.
Vanguard believes that Australia’s economy remains well-placed to recover gradually in 2025 after the broader economy witnessed its slowest growth in 32 years in 2024 amid sticky inflation and higher interest rates. The investment firm expects modest improvement in economic momentum, courtesy of higher real household incomes as inflation subsides. Furthermore, a rebounding housing market and expectations of rate cuts might also provide some support.
Key Indicators Likely to Shape Australia’s Economy in 2025
The Reserve Bank of Australia (RBA) kept the policy rate target unchanged at 4.35% on December 10. However, the bank noted that it continues to see signs of inflation moving sustainably towards the target. That being said, Vanguard expects that RBA will remain patient and that a tight labor market is expected to keep RBA from initiating rate cuts until Q2 2025. Furthermore, stagnant labor productivity has been contributing to higher inflation.
The employment-to-population ratio of 64.5%, and the labor force participation rate of 67.1% both were at record levels in December 2024. With the broader economy remaining close to full capacity, businesses are required to hire, which can keep the labor market tight and unit labor costs at elevated levels, opines Vanguard. Notably, the unemployment rate increased to a seasonally adjusted 4.0% in December, reflecting a rise from 3.9% in November. The investment firm anticipates that the unemployment rate can rise to ~4.6% in 2025 due to tightened financial conditions amidst higher interest rates.
Outlook on Australian Equities
As per Paul Taylor, Portfolio Manager at Fidelity International, the long-term prospects for Australian equities are promising thanks to numerous structural tailwinds. Notably, population growth fueled by immigration and the associated increase in consumption offer a robust foundation for economic expansion. The persistent service sector inflation is expected to be a critical indicator for RBA to monitor. If the service inflation begins to ease, it can hint at the potential for rate cuts, providing relief for younger Australians witnessing higher mortgage costs and higher living costs.
Furthermore, Taylor believes that the relationship between China and the Trump administration is expected to be critical. If China responds through fiscal stimulus measures to aid the domestic economy, Australian materials companies might benefit. This is due to strong linkages between China’s economy and the broader Australian materials sector.
With this in mind, let us now have a look at the 10 Best Long Term ASX Stocks to Buy Now.
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Our Methodology
To list the 10 Best Long Term ASX Stocks to Buy Now, we used a screener to shortlist the stocks that are trading on ASX and the US exchanges. Next, we chose the ones which were popular among hedge funds. Finally, the shortlisted stocks were arranged in ascending order of their hedge fund sentiments, as of Q3 2024.
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10 Best Long Term ASX Stocks to Buy Now
10) Telix Pharmaceuticals Limited (NASDAQ:TLX)
Number of Hedge Fund Holders: N/A
Telix Pharmaceuticals Limited (NASDAQ:TLX) is a commercial-stage biopharmaceutical company, which is focused on the development and commercialization of therapeutic and diagnostic radiopharmaceuticals for cancer and rare diseases in Australia, Belgium, Japan, Switzerland, and the US. The company’s revenue is currently generated predominantly from sales of Illuccix®, its diagnostic radiopharmaceutical for prostate cancer PET2 imaging. Notably, FY 2024 investment into R&D is in line with guidance, financed by earnings generated from product sales.
In Q4 2024, the company saw unaudited revenue of ~US$142 million (AU$218 million), representing an increase of 46% over the prior-year corresponding quarter and a QoQ increase of 5%. Telix Pharmaceuticals Limited (NASDAQ:TLX) highlighted that robust sales of Illuccix led the company to close out the year with revenue above guidance while progressing its strategic priorities. The company remains well-placed for a significant expansion, which includes planned launches of multiple imaging products in key markets and advancing late-stage therapeutic assets into pivotal trials.
Therefore, 2025 continues to be a transformative year for Telix Pharmaceuticals Limited (NASDAQ:TLX). The company submitted a Biologics License Application (BLA) for its renal cancer imaging candidate on December 27 and it targets a US commercial launch in H2 2025. UBS Group upped the stock’s price target from $21.00 to $22.00, giving a “Buy” rating.
9) ioneer Ltd (NASDAQ:IONR)
Number of Hedge Fund Holders: N/A
ioneer Ltd (NASDAQ:IONR) is a mineral exploration company. Its focus is on the Rhyolite Ridge Lithium-Boron Project located in Nevada, USA. Notably, the group has a business presence in Australia and North America. The company received its federal permit for the project from the Bureau of Land Management. This is the first US lithium project approved by the Biden Administration as part of its efforts to ramp up domestic critical mineral production.
In another positive development, ioneer Ltd (NASDAQ:IONR) announced that it has closed a $996 million loan from the US Department of Energy (DOE) Loan Programs Office (LPO) under the Advanced Technology Vehicles Manufacturing (ATVM) program to aid the development of an on-site processing facility at the Rhyolite Ridge Lithium-Boron Project in Esmeralda County, Nevada. The company further highlighted that this investment supports American manufacturers and helps in rebalancing the global supply of lithium and boron production and processing, which is being dominated by China and Turkey, respectively. After it becomes operational, ioneer Ltd (NASDAQ:IONR) believes that it will quadruple the nation’s current domestic lithium supply and help power an estimated 370,000 EVs per year.
Furthermore, the project is expected to garner dual revenue from lithium and boron produced directly at the mine site and contribute to establishing a sustainable lithium loop in Nevada, assuring the recycling and reusing of critical minerals. The one-year consensus price for ioneer Ltd (NASDAQ:IONR)’s stock is $7.49.
8) Immutep Limited (NASDAQ:IMMP)
Number of Hedge Fund Holders: 2
Immutep Limited (NASDAQ:IMMP) is a clinical-stage biotechnology company engaged in developing novel LAG-3 immunotherapy for cancer and autoimmune disease. The company announced positive data from the investigator-initiated INSIGHT-003 Phase I trial evaluating eftilagimod alpha (efti) in combination with KEYTRUDA® (pembrolizumab) and chemotherapy for first-line treatment of metastatic non-squamous non-small cell lung cancer (1L NSCLC) patients. As per Prof. Dr. Salah-Eddin Al-Batran of the Frankfurt Institute of Clinical Cancer Research (IKF) and project lead, the strength of such mature survival results together with a favourable safety profile in first-line treatment of patients with non-squamous NSCLC, the vast majority of whom possess negative or low PD-L1 expression, remains encouraging.
Immutep Limited (NASDAQ:IMMP) has also released its quarterly activities report for Q2 2025. Marking its transition to a Phase III biotech, the company’s pivotal TACTI-004 trial in first-line non-small cell lung cancer (1L NSCLC) got the first regulatory approval. Notably, mature data from INSIGHT-003 in 1L NSCLC exhibits an excellent 32.9-month median overall survival (OS) and 81.0% 24-month OS rate, surpassing the historical controls. In another development, the company announced favourable initial safety data from the placebo-controlled, double-blind first-in-human Phase I study evaluating IMP761. Notably, through the first 3 of 5 single ascending dose cohorts in healthy participants, there were no treatment-related adverse events.
7) Mesoblast Limited (NASDAQ:MESO)
Number of Hedge Fund Holders: 3
Mesoblast Limited (NASDAQ:MESO) is a clinical-stage biotechnology company. Notably, the FDA approved Ryoncil® as the first and only therapy for pediatric patients 2 months and older, which includes adolescents and teenagers, with steroid-refractory acute graft versus host disease (SR-aGvHD), a life-threatening condition possessing high mortality rates. Piper Sandler analyst Edward Tenthoff upped Mesoblast Limited (NASDAQ:MESO)’s price target to $24 from $15, keeping an “Overweight” rating.
The company continues to work on finalizing product availability, which includes logistics, regulatory documentation, and contractual arrangements to ensure a successful rollout of Ryoncil® this quarter. The financing of US$160 million (A$260 million), providing Mesoblast Limited (NASDAQ:MESO) with proforma cash on hand of ~US$200 million (A$322 million), places it in a robust position to execute the US commercial launch activities of Ryoncil®. Furthermore, it will also help Mesoblast Limited (NASDAQ:MESO) to expand the clinical indications of the product and ensure that commercial manufacturing meets expected product uptake and demand.
The company possesses a healthy balance sheet to support Ryoncil® launch and product portfolio, with current revenue streams expected to expand based on Ryoncil® performance. Also, Mesoblast Limited (NASDAQ:MESO) has a long-term revenue potential from the current and future pipeline.
6) Opthea Limited (NASDAQ:OPT)
Number of Hedge Fund Holders: 3
Opthea Limited (NASDAQ:OPT) is a clinical-stage biopharmaceutical company, which is engaged in developing and commercializing drugs for eye diseases in Australia and the US. H.C. Wainwright analyst Matthew Caufield reiterated a “Buy” rating on the company’s shares, setting a price objective of $12.00. The rating is backed by a combination of factors related to its innovative approach to treating wet AMD. Opthea Limited (NASDAQ:OPT)’s lead product, sozinibercept, happens to be a novel VEGF-C/D trap currently in Phase 3 trials, with critical data projected in 2025.
It is being evaluated in 2 fully enrolled pivotal Phase 3 clinical trials (COAST and ShORe) for use in combination with standard-of-care anti-VEGF-A therapies to improve overall efficacy and offer superior vision gains as compared to standard-of-care anti-VEGF-A agents alone. The analyst lauded the strategic commercial positioning of sozinibercept, highlighting its potential use as a first-line therapy in treatment-naïve patients. Furthermore, the potential for broader adoption is aided by the prospect of better visual acuity outcomes, which can appeal to key opinion leaders and payers alike. Such factors, together with optimism around the product’s market positioning and patient impact, support the rating on Opthea Limited (NASDAQ:OPT).
Opthea Limited (NASDAQ:OPT) strengthened its balance sheet with ~US$300 million in financing proceeds, and anticipates existing cash and cash equivalents to finance the company through the expected topline data readouts of COAST in early Q2 CY 2025 and ShORe in mid-CY 2025.
5) Tamboran Resources Corporation (NYSE:TBN)
Number of Hedge Fund Holders: 4
Tamboran Resources Corporation (NYSE:TBN) is a natural gas company, which is focused on developing unconventional gas resources in the northern territory of Australia. Alliance Global Partners initiated a coverage of the company’s shares with a “Buy” rating and a price target of $32. As per the firm, Tamboran Resources Corporation (NYSE:TBN) provides investors with pure-play exposure to the unconventional Beetaloo Basin. Notably, the company is the largest acreage holder in the Beetaloo Basin with ~1.9 million net prospective acres, held via 100% owned properties and 2 JVs– one with Santos and the other with Falcon Oil & Gas and Daly Waters Energy LP.
Furthermore, Alliance Global Partners opines that 2025 appears to be a year of catalysts for Tamboran Resources Corporation (NYSE:TBN). In a positive development, the company has completed stimulation activities over 35 stages across a 5,483-foot (1,671-metre) horizontal section in the Mid Velkerri B Shale within the Shenandoah South 2H sidetrack (SS-2H ST1) well. Notably, this stimulation was conducted using the Liberty Energy modern stimulation equipment.
Tamboran Resources Corporation (NYSE:TBN) further added that the SS-2H ST1 completion operations achieved 5 stages over a 24-hour period on multiple days, surpassing the previous Beetaloo Basin records.
4) Australian Oilseeds Holdings Limited (NASDAQ:COOT)
Number of Hedge Fund Holders: 4
Australian Oilseeds Holdings Limited (NASDAQ:COOT) is an Australian proprietary company that, directly and indirectly, is focused on manufacturing and selling sustainable oilseeds. The company posted robust growth in its retail oils business during Q1 2025, mainly fueled by its expanded distribution in Costco and Woolworths in Australia. Also, Australian Oilseeds Holdings Limited (NASDAQ:COOT) benefited from 3 new SKUs that were launched in coordination with focused, integrated marketing campaigns throughout the key retail partners.
Even though Australian Oilseeds Holdings Limited (NASDAQ:COOT)’s margins and profitability were impacted by the timing of investments, the company is well-placed to drive improving results as its business continues to grow and scale. The company’s sales revenue rose 6.1% to A$10.4 million in Q1 2025 because of the robust demand for Australian Oilseeds Holdings Limited (NASDAQ:COOT)’s cold pressed canola oil. Its retail oil revenue rose 59.9% to A$5.7 million as a result of expanded distribution in leading retailers in Australia together with the addition of new SKUs.
Australian Oilseeds Holdings Limited (NASDAQ:COOT) remains focused on eliminating chemicals from the edible oil production and manufacturing systems to supply quality products like non-GMO oilseeds and organic and non-organic food-grade oils to customers. In another positive development, the company has formed a partnership with Shanghai Maiwei Trading Co., Ltd for the sales, marketing, and distribution of its GEO brand in China. The robust potential for Australian Oilseeds Holdings Limited (NASDAQ:COOT)’s GEO brand in China, together with its partner’s established market presence and deep regional expertise, is expected to help create a solid foundation for sustainable growth.
3) Woodside Energy Group Ltd (NYSE:WDS)
Number of Hedge Fund Holders: 8
Woodside Energy Group Ltd (NYSE:WDS) is engaged in the exploration, evaluation, development, production, and marketing of hydrocarbons. BofA Securities analyst Matt Chalmers upgraded the company’s stock from “Neutral” to “Buy.” The upgrade stemmed from revised oil price forecasts by BofA’s Commodity Strategy team, which anticipates Brent crude oil to average $75 per barrel in 2025 and $73 per barrel in 2026. The team’s outlook has changed as a result of delays in OPEC+ production increases and new US Treasury sanctions on Russia.
Therefore, the anticipations shifted from an expected market surplus in 2025 to a tighter market. Notably, the West Texas Intermediate (WTI) crude oil prices are also expected to be around $71 per barrel this year and $69 per barrel in 2026. Therefore, the upgrade of Woodside Energy Group Ltd (NYSE:WDS)’s stock showcased higher oil price assumptions. The company and Chevron have decided to do an asset swap under which Woodside Energy Group Ltd (NYSE:WDS) will acquire Chevron’s interest in the North West Shelf (NWS) Project, the NWS Oil Project, and the Angel Carbon Capture and Storage (CCS) Project, and transfer all of its interest in both the Wheatstone and Julimar-Brunello Projects to Chevron.
Notably, the transaction simplifies Woodside Energy Group Ltd (NYSE:WDS)’s portfolio and improves its focus and efficiency by consolidating its position in the operated LNG assets. Furthermore, the transaction is immediately cash flow accretive and consists of a cash payment upon execution and completion.
2) BHP Group Limited (NYSE:BHP)
Number of Hedge Fund Holders: 22
BHP Group Limited (NYSE:BHP) operates as a resources company. The company delivered safe and reliable performance during the half-year ended 31 December 2024. Its flagship copper, iron ore, and steelmaking coal assets posted particularly healthy production. Copper volumes increased 10%, with Escondida achieving a 10-year production record, more than mitigating the impact of a weather-related power outage at Copper SA. BHP Group Limited (NYSE:BHP) continues to maintain the sector-leading cost discipline and is on track to post FY 2025 unit cost guidance throughout all the assets.
In January 2025, the company completed the formation of Vicuña Corp., which is a 50/50 JV with Lundin Mining to develop the Filo del Sol and Josemaria copper projects. BHP Group Limited (NYSE:BHP)’s total cash completion payment stood at US$2.0 billion. Furthermore, in November 2024, the company outlined its attractive organic copper growth pipeline at its Chilean copper site tour, with low capital intensity options in both concentrator and leaching pathways.
For FY 2025, the company expects copper production in the range of 1,845kt – 2,045kt and iron ore production of between 255Mt – 265.5Mt. Notably, BHP Group Limited (NYSE:BHP)’s stock has a consensus rating of “Moderate Buy” and a consensus price objective of $53.00.
1) IREN Limited (NASDAQ:IREN)
Number of Hedge Fund Holders: 28
On 15th February 2024, Iris Energy announced its official name change to IREN Limited (NASDAQ:IREN), better reflecting its expanding next-generation data center business. It is an Australian company that owns and operates next-generation data centers that are optimized for Bitcoin mining, AI cloud services, and high-performance and power-dense computing applications. On January 21, IREN Limited (NASDAQ:IREN) announced a $1 billion at-the-market facility to support general corporate purposes, which include expanding capacity to 57 EH/s by H2 2025, with 50 EH/s on track for H1 2025 and initiating direct-to-chip liquid cooling systems in existing data centers to enable rapid scaling for cloud & colocation opportunities.
IREN Limited (NASDAQ:IREN)’s strategic move into AI and HPC services provides a strong opportunity for diversification and growth. The global demand for AI and HPC capabilities has been witnessing rapid growth, fueled by advancements in ML, data analytics, and cloud computing. Through leveraging the existing power infrastructure and data center expertise, IREN Limited (NASDAQ:IREN) remains well-placed to capitalize on this ever-evolving market.
Furthermore, with AI technologies evolving and requiring powerful computing resources, IREN Limited (NASDAQ:IREN)’s ability to provide both the necessary infrastructure and energy capacity can make it an attractive partner for organizations at the forefront of AI R&D.
While we acknowledge the potential of IREN as an investment, our conviction lies in the belief that some deeply undervalued AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for a deeply undervalued AI stock that is more promising than IREN but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap.
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