Fund managers including Greencape Capital, Endeavor Asset Management, Wilson Asset Management, Pendal Group, Blackwattle Investment Partners, Antares Capital, Airlie Funds Management, Oracle Advisory Group and Ten Cap have invested in ALS Ltd (ASX:ALQ).

Managers highlight rising geochemistry sample volumes and firmer pricing as miners lift exploration budgets on stronger gold and copper prices, with Airlie noting high incremental margins on testing volumes. Pendal points to upgraded organic growth guidance, and Ten Cap sees ALS early in an earnings upgrade cycle.

Pendal noted guidance has embedded conservative commodity assumptions given an uncertain macro environment, and the earnings are leveraged to exploration activity, which would fall if gold and copper prices weaken.

ALS Ltd., headquartered in Brisbane, Australia, and established in 1863, provides global analytical and testing services through four key segments. Life Sciences delivers analytical data for environmental, food, pharmaceutical, and consumer product industries. Commodities provides assaying, metallurgical services, and coal certification to mining and mineral exploration sectors. Industrial focuses on asset care and tribology testing for energy, resources, and infrastructure. By supporting consulting, engineering, and government entities, ALS delivers technical services essential for informed industry decision-making.