Day: 21 December 2021

The Rumble Resources Ltd (ASX: RTR) share price is on the rise today amid a major discovery at one of the company’s drill sites.

Rumble shares are swapping hands at 38.5 cents in morning trade, up 5.48% on yesterday’s close.

Let’s take a look at what Rumble Resources revealed today.

What did the miner discover?

Rumble Resources informed investors it has discovered significant zinc, lead, copper and silver mineralisation at its Chinook Prospect in Western Australia.

The company announced the top of a large-scale, sub-vertical feeder fault zone, intersected in drill-hole EHRC136, has returned a broad zone of zinc and lead mineralisation with multiple intersections.

As well as zinc and lead deposits, the company announced “the discovery of significant copper and silver in a northwest trending 1.7km long feeder fault zone at Chinook”.

Today’s news is a follow-up to last week’s update on strong zinc, silver and lead results at the Chinook site.

The company also reported significant zinc, lead and silver mineralisation at its Navajoh Prospect.

Located 4km southeast of the company’s recent Tonka Discovery, the company says first pass drill scoping on a single traverse intersected significant “unconformity related” zinc, lead and silver sulphide mineralisation, similar to the Chinook and Tonka Prospects.

It’s more good news for Rumble which has been drilling at its 75%-owned Earaheedy Project, located 110km northeast of Wiluna in Western Australia. Zenith Minerals Ltd (ASX: ZNC) holds the other 25% stake in the site.

What did management say?

Commenting on the discovery, Rumble Resources technical director Brett Keillor said:

The discovery of significant copper with silver mineralisation at the top of a major feeder fault system along with high grade zinc and lead at Chinook highlights the potential for a very largescale zoned base metal system.

The copper mineralisation supports the evolving geology and ore deposition model with respect to feeder fault zones reflecting higher depositional temperatures.

Rumble Resources is completing its drilling for the 2021 season and expecting final drilling results in February or March next year. In 2022, the company will continue drilling and testing at the site.

Rumble Resources share price snapshot

The Rumble Resources share price has surged a significant 250% in the past 12 months and is up 234% year to date.

Despite this, the company’s shares have dropped by 8% in the past month.

For perspective, the S&P/ASX 200 Index (ASX: XJO) has returned more than 9% in the past year.

The miner has a market capitalisation of nearly $239 million based on its current share price.

The post Here’s why the Rumble Resources (ASX:RTR) share price is climbing 5% appeared first on The Motley Fool Australia.

More reading

• Down 35% in 2 months: What’s going on with the Rumble Resources (ASX:RTR) share price?

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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The Total Brain Ltd (ASX: TTB) share price is rebounding after hitting an all-time low of 9.4 cents on Friday. This comes after the digital mental health software-as-a-service (SaaS) company announced a data licensing agreement that has excited investors.

At the time of writing, Total Brain shares are surging a whopping 57.89% to 15 cents apiece.

Total Brain secures data licensing agreement

In a statement to the ASX, Total Brain advised it has entered into a perpetual, non-exclusive licence with Janssen Research & Development, LLC.

Founded in 2001, Janssen supports the pharmaceutical business of global healthcare behemoth, Johnson & Johnson.

Janssen specialises in researching, developing, and producing medicines for a range of diseases. This relates to areas such as cardiovascular and metabolism, immunology, infectious diseases and vaccines, neuroscience, oncology, and pulmonary hypertension.

Under the agreement, Janssen will have access to Total Brain’s iSPOT-D (International Study to Predict Optimized Treatment for Depression) research data. The licensing deal is effective immediately.

As such, Total Brain will receive a one-off licence fee of US$2.2 million within the next 90 days.

This will indeed boost the company’s cash runway significantly for research activities beyond the June 2022 quarter. Previously, Total Brain had $2.6 million at the end of September 2021.

More on Total Brain

Based in San Francisco and Sydney, Total Brain has developed the world’s first mental health self-monitoring and self-care platform.

Its SaaS platform has helped more than 1 million users scientifically measure and optimise their brain capacities while managing the risk of common mental conditions.

These benefits for employers, large organisations, and insurers have translated to productivity improvements and healthcare cost reduction.

Total Brain share price snapshot

Over the past 12 months, the Total Brain share price has lost around 52%. It is also down roughly 53% this year to date. It is a stark contrast from when the company’s shares reached a 52-week high of 50.5 cents in January 2021.

On valuation grounds, Total Brain presides a market capitalisation of about $17.34 million, with 133.39 million shares outstanding.

The post Here’s why the Total Brain (ASX:TTB) share price is rocketing 58% today appeared first on The Motley Fool Australia.

More reading

• Will the CBA (ASX:CBA) share price smash its record high in 2022?
• Meme coin selling: Why Shiba Inu, Dogecoin, and The Sandbox are down
• Could the Aurizon (ASX:AZJ) share price be in for more pain in 2022?
• Woolworths (ASX:WOW) share price rises as boss courts API pharmacists
• Magellan (ASX:MFG) shares just lost $1.8b of market cap. What now?

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

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Despite a recent blip following its first quarter update, the Commonwealth Bank of Australia (ASX: CBA) share price has been a very strong performer in 2021.

Since the start of the year, the banking giant’s shares have charged close to 19% higher to $99.36.

This is almost double the return of the S&P/ASX 200 Index (ASX: XJO) over the same period.

Where is the CBA share price heading in 2022?

While there are a number of brokers out there that are tipping the CBA share price to fall in 2022, one leading broker sees scope for it to push higher.

In fact, the team at Bell Potter believe there is potential for Australia’s largest bank’s shares to hit a new record high.

According to a recent note, its analysts have a buy rating and $111.00 price target on the company’s shares. Based on the current CBA share price, this implies potential upside of 11.7% for investors over the next 12 months.

In addition, Bell Potter is tipping the bank to increase its fully franked full year dividend by 12.5% to $3.94 per share in FY 2022. This represents a yield of 4% at current levels, stretching the total return on offer to almost 16%.

What did the broker say?

While the broker acknowledges that the bank’s first quarter update revealed that trading conditions are tough due to mortgage competition, it continues to see enough value in the CBA share price at the current level to maintain its positive view.

Bell Potter commented: “Given its lower quarterly performance, CBA’s cash NPAT is reduced by 3% across the forecast horizon. This is mainly due to lower NII (-1%) and other income (-2%) but flat in total excluding the AHL divestment (above system growth that offset margin pressures and lower other income), slightly lower operating expenses (+1% based on lower remediation costs) and just a minor change in loan impairment expense in FY22 of -33% (i.e. a lower expense). The price target is however lowered by 6% to $111.00 (previously $118.00) after also considering added dividend and ROE risks. Based on a 12-month TSR of greater than 15%, CBA is still regarded as a Buy.”

The post Will the CBA (ASX:CBA) share price smash its record high in 2022? appeared first on The Motley Fool Australia.

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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. 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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This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

What happened

A range of more speculative meme tokens is seeing increased selling pressure in the US today. Popular dog-inspired cryptocurrencies Shiba Inu (CRYPTO: SHIB) and Dogecoin (CRYPTO: DOGE) have declined 6.8% and 4.4% respectively over the past 24 hours as of 12:30 p.m. ET. Other high-momentum tokens such as metaverse crypto The Sandbox (CRYPTO: SAND) haven’t been spared, declining 3.1% over the same time frame.

A string of catalysts appears to be behind this meme token decline today. For one, Senator Joe Manchin’s rebuttal of President Joe Biden’s Build Back Better plan has sent risk assets lower today.

Stocks, crypto, and commodities all got hammered on the news. Continued concern around the omicron variant has investors on edge. And there remains a growing number of investors who are unsure as to whether inflation, and the monetary tightening that appears underway from the Federal Reserve, will prove to be bullish or bearish for risk assets.

So what

There’s really quite a bit of macroeconomic data investors are forced to grapple with right now. These aforementioned headwinds certainly present a rather unflattering near-term outlook for high-risk, high-upside asset classes. For digital currencies — and meme tokens in particular — one may argue that capital outflows from riskier assets could provide some serious volatility for markets. 

Dog-themed tokens such as Shiba Inu and Dogecoin have surged in interest as speculative momentum bets during this cheap money-fueled rally in some of the riskiest assets. As this trade winds down, concerns around how much capital will flow out of such assets, and to which sectors, remain.

For metaverse-themed cryptocurrencies such as The Sandbox, there’s perhaps a stronger bull case that can be made. That said, the valuations of these tokens continue to be debated among investors, many of whom are skeptical about how quickly they’ve appreciated in such short order.

Now what

It’s difficult to predict where high-risk, high-return assets, particularly meme tokens, will go from here. On the one hand, there’s still a tremendous amount of excess capital in the markets that will look to find a home. On the other, it appears pretty clear that investors are intent on de-risking their portfolios right now. For meme tokens, this environment could be a rocky one over the near term.

For those looking to be aggressive in this downturn, some prudence in ensuring proper position sizing and portfolio allocation to risk assets is important. For most others, watching from the sidelines may be the best course of action. 

That said, there’s likely a lot more excitement to come, so get the popcorn ready.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

The post Meme coin selling: Why Shiba Inu, Dogecoin, and The Sandbox are down appeared first on The Motley Fool Australia.

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Chris MacDonald has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

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The Aurizon Holdings Ltd (ASX: AZJ) share price has struggled through 2021 and one expert is predicting it might be in for more trouble in the new year.

The rail freight operator moves around half the country’s coal exports. It hauled 202 million tonnes of the commodity in financial year 2021.

But with big banks turning away from coal, the head of Australian equities at Tyndall, Brad Potter, believes the cost of capital could soon increase for the haulage company.

At the time of writing, the Aurizon share price is $3.44, 0.15% higher than its previous close. For context, the S&P/ASX 200 Index (ASX: XJO) is up 0.21% right now.

Let’s take a look at Potter’s prediction for the future of the rail freight operator’s shares.

Aurizon share price could suffer alongside coal in 2022

Potter recently told Livewire he believes the coal industry will begin to struggle in the coming years, and Aurizon won’t be immune to the pain.

Livewire quoted Potter as saying:

In our view, companies such as Aurizon Holdings that own and operate coal haulage operations in both Queensland and New South Wales are likely to have availability of funding reduced, and they are also likely to find asset owners excluding them from their investable universe.

Even if Aurizon manages to dodge the potential carnage, a spin away from the commodity by super funds will likely reduce the availability of equity.

Additionally, Potter said Australian banks are beginning to turn their backs on coal, potentially leaving companies digging for the black rock looking internationally for funding.

Challenges for coal producers could impact the Aurizon share price as the company’s income is largely dependent on the commodity. In its most recent financial year results, it reported a drop in volumes across its coal network substantially impacted its finances.

The Aurizon share price has been suffering lately. It has fallen around 12% since the start of 2021. However, it has gained around 2% over the past month.

The post Could the Aurizon (ASX:AZJ) share price be in for more pain in 2022? appeared first on The Motley Fool Australia.

More reading

• Why has the Aurizon (ASX:AZJ) share price had such a lacklustre start to December?
• Why is the Aurizon (ASX:AZJ) share price hitting 9-year lows today?
• Why has the Aurizon (ASX:AZJ) share price struggled this month?

Motley Fool contributor Brooke Cooper 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 recommended Aurizon Holdings 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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The Woolworths Group Ltd (ASX: WOW) share price is up 0.5% in early trading. The CEO of Woolworths is trying to convince Australian Pharmaceutical Industries Ltd (ASX: API) pharmacists to back the proposed takeover.

Woolworths CEO turns on the charm

Woolworths CEO Brad Banducci has written a letter to the pharmacists of API, which was published in the Pharmacy Daily.

It is down to the API board and shareholders that will decide which offer to accept – the one from Woolworths or from Wesfarmers Ltd (ASX: WES). However, both Woolworths and Wesfarmers want to win over the approval of pharmacists because they are key stakeholders.

In that letter, Mr Banducci aimed to “allay misplaced fears” about the company’s intentions.

He said in the letter published on Pharmacy Daily that he understood that pharmacists had concerns about the bid considering the history of “perceived rivalry” between pharmacies and supermarkets. Mr Banducci said that the company will not look to change pharmacy location and ownership rules under his leadership.

Mr Banducci also wrote:

We are not here to disrupt the sector. We are here to help strengthen it. We strongly believe that a strong local community pharmacy health model is key to the health and wellbeing of our local communities and nation overall.

Through our proposal to acquire API, we are committed to helping those in the sector successfully operate their independently owned businesses.

Our investment revolves around bringing a set of capabilities we believe can help strengthen the existing vital role you play in the community for the benefit of both patients and customers.

Pharmacy Daily noted that the Woolworths CEO did not directly address concerns about how it would manage data from the Priceline Sister Club loyalty scheme, though Mr Banducci said the company would use its “extensive experience in areas such as digital, loyalty, payments, analytics and importantly, privacy.”

The battle continues

According to reporting by The Australian, the Wesfarmers boss Rob Scott recently wrote to Trent Twomey, the president of the Pharmacy Guild, saying how it was committed to the community pharmacy model. Wesfarmers thinks it can deliver even better products and services to community pharmacists and Priceline franchisees that will help them be more competitive and create value over time.

Both Wesfarmers and Woolworths have lobbed bids for API. Woolworths’ non-binding proposal is a cash offer of $1.75 per API share, which is $0.20 per share (or 12.9%) higher than the price that was agreed between API and Wesfarmers.

Both of them have outlined they will utilise their powerful logistics and other scale benefits to help API improve.

Woolworths share price snapshot

Over the last month, Woolworths shares have dropped around 5%.

The post Woolworths (ASX:WOW) share price rises as boss courts API pharmacists appeared first on The Motley Fool Australia.

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• Fed up with term deposits? How to get 10% income from ASX shares
• What experts are saying about the Woolworths (ASX:WOW) share price in 2022
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• Broker gives its verdict on the Woolworths (ASX:WOW) share price after 8% decline

Motley Fool contributor Tristan Harrison 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 owns and has recommended Wesfarmers 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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Shares in Magellan Financial Group Ltd (ASX: MFG) were dealt a diabolical blow by the market yesterday.

The ASX-listed investment manager bled nearly a third of its value after announcing the loss of its mandate with UK-based fund manager St James’s Place (SJP). While the client represented only 12% of revenues, the actions of shareholders indicate there’s some concern for a snowball effect.

In early morning trade, Magellan shares are shining a little brighter at $20.39, up 3.5% from yesterday’s closing price.

What is the damage toll from SJP’s exit?

For some shareholders, yesterday’s collapse in Magellan shares on the ASX was overdone. Others are cautious of the potential for more fallout. But, what are the quantifiable measures of the termination?

According to the announcement, the loss of SJP’s mandate will equate to an approximate 6% reduction in revenue for FY22. Interestingly, the Magellan board considered this to be an “immaterial” impact.

In an internal memo, Magellan chair Hamish Douglass shared an optimistic take on the events. Though the loss of the mandate was disappointing for the fund founder, Douglass said, “[We have] a very strong business that is very well diversified.” Unfortunately, these supportive statements did little for ASX-listed Magellan shares yesterday.

Additionally, this is supported by the fund’s largest client now representing around 3% of Magellan’s revenue. However, Macquarie equities analyst Brendan Carrig has run the numbers on what he believes is the possible dent in earnings following SJP’s exit.

According to the analyst, the estimated value of the SJP mandate could have been around $23.3 billion worth of funds. As such, Carrig estimates the damage to net after-tax profits to be $66.5 million. In other words, a reduction of 15% from what it would have been.

For context, Magellan posted earnings of ~$265 million in FY21.

What’s next for ASX-listed Magellan?

Douglass is taking the news in his stride and is already looking at the company’s next steps. In his internal memo, the fund manager said:

We have been closed to new institutional mandates for many years and this will enable us to reopen our global strategy to the institutional market in the years ahead. This will of course take some time.

No doubt the global fund’s manager will be looking to plug the holes in the Magellan ship. From here, the truth of whether the selloff in Magellan shares was overdone will rest upon client actions. If the SJP termination turns out to be a red herring, then investors might look to take advantage.

Conversely, if other exits come to follow, then the Magellan share price could come under further pressure.

The post Magellan (ASX:MFG) shares just lost $1.8b of market cap. What now? appeared first on The Motley Fool Australia.

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• Why Audio Pixels, CIMIC, Magellan, and St Barbara shares are tumbling
• ASX 200 (ASX:XJO) midday update: Magellan shares crash 28%, CIMIC tumbles
• Magellan (ASX:MFG) share price crashes 23% after losing major contract
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Motley Fool contributor Mitchell Lawler 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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The BWX Ltd (ASX: BWX) share price has been a relatively poor performer in 2021.

Since the start of the year, the personal care products company’s shares have risen almost 4% to $4.29.

This compares to a gain of 9.6% by the S&P/ASX 200 Index (ASX: XJO) over the same period.

Where next for the BWX share price?

The good news for investors is that one leading broker believes the BWX share price is primed to leap higher in 2022.

According to a recent note out of Bell Potter, its analysts have picked the Sukin manufacturer as one of their top picks for next year.

Bell Potter has put a buy rating and $6.10 price target on the company’s shares. Which, based on the current BWX share price, implies potential upside of 42% for investors over the next 12 months.

Why is Bell Potter bullish?

The broker notes that BWX has been busy expanding its distribution footprint in the natural beauty and wellness market. So much so, the broker expects the company’s footprint to grow by ~42% year on year in FY 2022.

And while it acknowledges that COVID-19 lockdowns have impacted its retail sales, Bell Potter was pleased to see channels return to normal in November.

All in all, its analysts believe the company is well-placed for the future and see a lot of value in the BWX share price.

Bell Potter commented: “On a look through basis, we believe BWX is well placed to deliver strong Underlying Revenue & EBITDA growth in FY22 (weighted to 2H22) as retail trade normalises and sell-through improves. This should be supported by BWX’s recent acquisition of 51% of Go-to Skincare which is tracking +13% vs. PcP in 1Q22, and manufacturing synergies over the medium term as BWX phases in the use of its purpose built facility in CY22. We believe the market has recently priced in expectations for a soft 1H22, which presents a compelling buying opportunity at current levels.”

The post Top broker tips BWX (BWX) share price to leap 42% in 2022 appeared first on The Motley Fool Australia.

More reading

• Brokers name 3 ASX shares to buy today

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. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended BWX 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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This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

What happened

As the world’s largest cryptocurrency by market capitalization, and still the most influential token in the crypto market, Bitcoin (CRYPTO: BTC) continues to generate a tremendous amount of attention. The direction this token moves on a given day often sets the tone for the entire market. Such appears to be the case today.

As of noon ET, Bitcoin has declined 1.5% over the past 24 hours. This move has coincided with an overall market decline of 2.7% over this same time frame. While Bitcoin has seen smaller declines than many of the higher-risk altcoins today, investors appear to be pointing to trading volumes and a relatively high concentration of Bitcoin being held by a few individuals as reasons to be cautious today.

So what

Volume is an interesting metric to follow, both in the crypto market and stock market. Investors and traders alike tend to want to know what’s driving various moves, and volume can provide some insight into the shorter-term price action of a given asset. In the case of Bitcoin, various significant sell-offs in recent years have been tied to mass selling. The good news: We haven’t seen a significant volume spike coinciding with a major decline this year. However, should volumes pick up, and this sell-off continue, a momentum-driven move to the downside could incite more selling than Bitcoin bulls would like to see.

Additionally, a report from The National Bureau of Economic Research has some investors on edge today. This report suggests that a very small fraction (0.01%) of all Bitcoin holders control 27% of the supply of this top cryptocurrency. Concentrated ownership of any asset provides increased risk for those holding smaller stakes. In the case of crypto, these risks are amplified, as it’s impossible to know for sure who owns these tokens, and what their intentions are with respect to holding these tokens long-term.

Now what

It’s worth noting that Bitcoin is still up significantly on a year-to-date basis. This token is up approximately 60% since the beginning of the year, outpacing the returns of the stock market and providing investors with a tangible diversification thesis to own this token.

That said, it’s clear that investors of all stripes are looking to de-risk their portfolios today. Given the inherent volatility that’s materialized with Bitcoin over the past decade, investors may be looking to reduce exposure to high-risk assets, and focus on adding heavier exposure to more defensive assets.

Today’s report on the relatively high concentration of Bitcoin ownership, along with various volume-related concerns, appear to have investors on edge. Perhaps these concerns will dissipate over the longer term as Bitcoin’s investor base broadens and the crypto market continues to mature. However, over the short term, it appears more volatility could be on the horizon for Bitcoin and other tokens as well. 

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

The post 2 reasons why Bitcoin is down today appeared first on The Motley Fool Australia.

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Chris MacDonald has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and recommends Bitcoin. 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.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

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Shares for investment bank Macquarie Group Ltd (ASX: MQG) have gone gangbusters this year.

The stock price is up almost 47% in 2021. That’s despite a 7% fall late last month as news of COVID-19 Omicron hit the headlines. Although, that has been mostly regained since.

Macquarie’s valuation has ballooned to the point that it’s now the fourth-largest bank in Australia, technically kicking out Australia and New Zealand Banking Group Ltd (ASX: ANZ) from the big four.

So is this wunderkind now fully priced? What does 2022 have in store for Macquarie shares?

Holding into 2022, but looking for dips before buying

Medallion Financial managing director Michael Wayne told The Motley Fool that his team continues to hold Macquarie shares for many clients.

“It has been a good performer over a long period of time.”

But with the current price near its all-time high, he’s not sure that he’d actively buy the stock right now.

“It is hard to be a buyer at these levels, and our preference would be to buy after a decent pullback,” he said.

“In the event of a considerable market pullback, this is definitely one we’d have on the watchlist.”

Marcus Today founder Marcus Padley last week named Macquarie as an ASX share he’d hold onto forever.

“In the US, the competition among investment banks is just vicious. Here, if you are a smart, finance-orientated, want-to-be-in-the-market graduate, where’d you go and work?” he posed to Livewire.

“You go and work at Macquarie, you don’t go and work in a very institutionalised bank. You work in a bank that has got 14,000 of the smartest financial brains in Australia with one goal in mind: make money. And I think that’s a pretty good investment.”

Analysts bullish on Macquarie shares 

According to CMC Markets, seven out of 14 analysts rate Macquarie shares as a strong buy.

If you include the two who rate it as a moderate buy, that becomes nine of 14 who think investors should buy Macquarie stocks right now. Four rate it as a hold, while just one person is urging clients to sell.

Alphinity Investment Management client portfolio manager Elfreda Jonker told The Motley Fool earlier this month that Macquarie is one of her fund’s biggest holdings.

“Even after the last big run-up that we’ve had, we very much view it as a longer-term quality holding in our portfolio overall,” she said.

“It’s trading on a PE [ratio] of around 19 times, so that’s ahead of its long term average of around 16. But in our view, we do think that the way they are busy changing the business model and really just expanding the different business avenues that they’re in, we think this company can continue to generate really strong earning scores.”

Macquarie shares closed Monday at $202.50.

The post Where are Macquarie (ASX:MQG) shares headed in 2022? appeared first on The Motley Fool Australia.

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Motley Fool contributor Tony Yoo owns Macquarie Group Limited. 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 recommended Macquarie Group 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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