Day: October 19, 2021

Lake Resources (ASX:LKE) share price jumps 19%, charges to an all-time high

Kids holding a lightning bolt light bulb with energy turned on.

The Lake Resources N.L. (ASX: LKE) share price is breaking out on Wednesday, at one point surging 19.5% to a fresh all-time high of 76.5 cents. It has since softened, currently up 11.72% to 71.5 cents.

What’s driving the Lake Resources share price?

The Lake Resources share price is moving on no price-sensitive news. However, there is no shortage of bullish news from the broader lithium sector.

The battery-grade lithium carbonate price hit a fresh all-time high of 190,000 yuan/metric tonne (mt) last week. That surpasses its previous high of 160,000 yuan/mt at the end of September.

Earlier this month, the International Monetary Fund (IMF) released its world economic outlook report. The report cites lithium (and cobalt) as “probably the most promising rising metals”.

In the IEA’s [International Energy Agency] Net Zero by 2050 emissions scenario, total consumption of lithium and cobalt rises by a factor of more than six, driven by clean energy demand.

Prices [of critical metals] would reach historical peaks for an unprecedented, sustained period under the Net Zero by 2050 emissions scenario. The prices of cobalt, lithium, and nickel would rise several hundred percent from 2020 levels.

How is Lake Resources positioned to benefit?

Lake Resources is an emerging lithium producer, operating out of Argentina. The company aims to leverage direct extraction technology to produce a high purity lithium with significant ESG (environmental, social and corporate governance) benefits.

Its flagship Kachi Project hosts one of the top 10 largest brine resources globally, according to the 22 September presentation.

Furthermore, the company is targeting 25,500 tonnes per annum of lithium carbonate equivalent (LCE) by 2024.

Lake Resources has received offers from a number of potential financial partners including a formal letter of interest from Canada’s export credit agency, Export Development Canada (EDC), and a partnership with its technology partner, Lilac Solutions.

Lake Resources is in the right place at the right time. It is nearing the end of exploration and positioned to supply the world with highly sought after lithium.

As such, the Lake Resources share price has boomed 793% year to date, and is closing in on a $1 billion market capitalisation.

The post Lake Resources (ASX:LKE) share price jumps 19%, charges to an all-time high appeared first on The Motley Fool Australia.

Should you invest $1,000 in Lake Resources right now?

Before you consider Lake Resources, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Lake Resources wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of August 16th 2021

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Motley Fool contributor Kerry Sun has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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3 stellar ASX tech shares to buy right now

digital screen of bar chart representing asx tech shares

The tech sector is home to a number of companies with strong growth potential.

Three that are highly rated are listed below. Here’s what you need to know about these tech shares:

BetaShares Global Cybersecurity ETF (ASX: HACK)

The first ASX tech share to look at is an ETF that provides investors with easy access to a large number of growing tech shares. The BetaShares Global Cybersecurity ETF is focused on the global cybersecurity sector. This means you’ll be buying some of the biggest and brightest companies in the sector such as Accenture, Cisco, Cloudflare, Fortinet, Okta, Splunk, Zscaler, Crowdstrike. Given the rising threat of cyber attacks, demand for their services is expected to grow strongly over the 2020s.

Bigtincan Holdings Ltd (ASX: BTH)

Another tech share to look at is Bigtincan. It is a fast-growing sales enablement platform provider. This popular platform enables sales, service and marketing teams to drive the sales process with the best  sales content anywhere, anytime, and on any device. Bigtincan has also just strengthened its offering with the acquisition of US-based Brainshark. It is an industry-recognised and multi-awarded leader in its field of sales coaching, learning and readiness. Management expects this to lead to combined ARR of $119 million in FY 2022, which will be up 124% year on year. Morgan Stanley is very positive on the company. It has an overweight rating and $2.10 price target on its shares.

Nitro Software Ltd (ASX: NTO)

Another tech share to look at is Nitro. It is a fast-growing document productivity software company. It has been tipped to grow strongly in the future thanks to the increasing popularity of its Nitro Productivity Suite and its sizeable market opportunity. The Nitro Productivity Suite provides integrated PDF productivity and electronic signature tools to customers through a horizontal, software-as-a-service, and desktop-based software solution. Its total addressable market is estimated to be $28 billion. The team at Bell Potter are positive on the company. The broker currently has a buy rating and $4.00 price target on Nitro’s shares.

The post 3 stellar ASX tech shares to buy right now appeared first on The Motley Fool Australia.

Wondering where you should invest $1,000 right now?

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.

*Returns as of August 16th 2021

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended BETA CYBER ETF UNITS and BIGTINCAN FPO. The Motley Fool Australia owns shares of and has recommended BETA CYBER ETF UNITS and BIGTINCAN FPO. The Motley Fool Australia has recommended Nitro Software Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Lithium Australia (ASX:LIT) share price leaps 6% on Bunnings update

jump in asx share price represented by man leaping up from one wooden pillar to the next

The Lithium Australia NL (ASX: LIT) share price is powering ahead during mid-afternoon trade today. This comes as the lithium company provided an update on its negotiations with Bunnings Group Limited (Bunnings).

At the time of writing, the lithium company’s shares are up 6% to 13 cents.

What did Lithium Australia announce?

In a statement to the ASX, Lithium Australia advised that Envirostream and Bunnings have signed a supply of services agreement. Lithium Australia holds a 90% interest in on-shore battery recycling company, Envirostream.

The deal will see the collection of spent batteries from Bunnings stores in Australia and selected stores in New Zealand. This follows the successful trials of spent-battery collection services in several Bunnings stores within Victoria.

Notably, the agreement comes ahead of the launch of the Battery Stewardship Scheme (BSS). Australia’s Battery Stewardship Council (BSC) is planning to roll out the initiative in early 2022. It is expected to continue until June 30 2024, with Bunnings given the option to extend the agreement for a further 12 months.

In addition, Envirostream will provide a Battery Product Stewardship program at all relevant sites across Australia and New Zealand. This will cover all the requirements of the BSS for managing every type of battery. As such, the services are listed below:

  • Provision and maintenance of suitable collection units for spent batteries;
  • Collection and transportation of spent batteries from all Bunnings sites;
  • Recycling of the spent batteries collected from Bunnings sites;
  • Education and participation in marketing campaigns, in conjunction with Bunnings, and
  • Reporting.

Recently, the Australian Federal Department of Agriculture, Water and the Environment issued Envirostream with a Basel Import Permit. This allows for the import of 100 tonnes of mixed-waste batteries into Australia from New Zealand.

The permit authorises Envirostream to service the Bunnings’ New Zealand stores, which is valid until October 14, 2022. Once imported into Australia, the waste will be recycled at Envirostream’s EPA-licensed Campbellfield facility and Laverton North facility. The latter is currently in development.

Management commentary

Lithium Australia managing director Adrian Griffin commented:

The Company is pleased to announce that Envirostream will commence a service contract with Bunnings, which is leading the way in the provision of convenient collection points for spent batteries ahead of the BSS.

The creation of such a collection infrastructure is vital to improving Australia’s battery recycling rate and preventing spent batteries from being consigned to landfill.

Lithium Australia share price summary

Over the past 12 months, Lithium Australia shares have surged nearly 160%, with year-to-date up more than 100%.

Lithium Australia commands a market capitalisation of roughly $132.38 million and has close to 1 billion shares on hand.

The post Lithium Australia (ASX:LIT) share price leaps 6% on Bunnings update appeared first on The Motley Fool Australia.

Should you invest $1,000 in Lithium Australia right now?

Before you consider Lithium Australia, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Lithium Australia wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of August 16th 2021

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Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned.

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Why Beach, Flight Centre, Tyro, and Whitehaven Coal are dropping

share price plummeting down

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a strong gain. At the time of writing, the benchmark index is up 0.75% to 7,429.6 points.

Four ASX shares that have failed to follow the market higher today are listed below. Here’s why they are sinking:

Beach Energy Ltd (ASX: BPT)

The Beach share price is down 5% to $1.42. This follows the release of a disappointing first quarter update from the energy producer this morning. According to the release, Beach’s first quarter production was down 4% on the prior quarter to 5.7MMboe. This was driven largely by natural Western Flank oil decline. Also disappointing the market was Beach reporting an 8% decline in sales revenue to $388 million despite rising oil prices.

Flight Centre Travel Group Ltd (ASX: FLT)

The Flight Centre share price has fallen 5% to $21.61. This follows the release of a trading update at its annual general meeting. According to the release, Flight Centre’s sales reached 27% of pre-COVID levels globally during September. This is still not at a level that makes its operations breakeven, leading to a monthly net operating cash outflow of $41 million. In response, Goldman Sachs commented: “Overall, while the outlook remains positive and corporate progress is encouraging, the update remained lacklustre on leisure.”

Tyro Payments Ltd (ASX: TYR)

The Tyro share price is down 2.5% to $3.94. This morning the payments company revealed that class action proceedings have been filed in the Federal Court of Australia. These proceedings allege, among other things, misleading and deceptive conduct by the company. Tyro, which has yet to be served the documents, understands that these proceedings relate to the terminal connectivity incident in January.

Whitehaven Coal Ltd (ASX: WHC)

The Whitehaven Coal share price has tumbled 8% to $3.05. This appears to have been driven by a pullback in coal prices overnight. According to CommSec, the thermal coal price fell 3.9% to US$229.90 a tonne. In other news, this morning Morgans retained its add rating and increased its price target to $3.92.

The post Why Beach, Flight Centre, Tyro, and Whitehaven Coal are dropping appeared first on The Motley Fool Australia.

Wondering where you should invest $1,000 right now?

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.

*Returns as of August 16th 2021

More reading

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Tyro Payments. The Motley Fool Australia has recommended Flight Centre Travel Group Limited and Tyro Payments. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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