Day: 2 March 2022

The Treasury Wine Estates Ltd (ASX: TWE) share price rocketed higher since announcing its FY22 half-year results two weeks ago.

While the wine giant delivered a drop in earnings, investors looked past this and focused on the future. This led to the company’s share price advancing by more than 8% since 16 February.

However, Treasury Wine shares have edged lower today, down 2.10% to $11.415.

Here’s what is dragging the share price down on Wednesday.

Treasury Wine shares trade ex-divided

With the company’s half year results delivered, investors are eyeing Treasury Wine shares as they go ex-dividend today.

According to the half-year report, Treasury Wine produced a softened performance across key metrics.

In summary, net sales declined by 10.1% to $1,267 million over the previous corresponding period. 

The company’s Penfolds business felt the impacted by reduced shipments to mainland China. However, this was partly offset by the strong growth achieved through global priority markets and channels.

As a result, net sales revenue per case increased by 16% to $95.60.

On Treasury Wine’s bottom line, net profit after tax (NPAT) fell 7.5% to $109.1 million.

The board maintained a fully-franked interim dividend of 15 cents per share.

Management noted that the latest dividend equates to a payout ratio of 66% of NPAT.

The company’s dividend policy is to distribute between 55% to 70% of normalised net profit after tax each year.

It is worth noting that there is a capital management program that has been active since FY18. This returns excess capital efficiently through an on-market share buy-back.

When can Treasury Wine shareholders expect payment?

Treasury Wine will pay the interim dividend to eligible shareholders approximately 4 weeks away on 1 April. The dividend is fully-franked, which means investors can expect to receive tax credits from this.

Investors who elect for the dividend reinvestment plan (DRP) will see a number of shares added to their portfolio. This will be based on a volume-weighted average price from 7 March to 18 March.

There is no DRP discount rate and the last election date for shareholders to opt-in is on 4 March.

Based on today’s price, Treasury Wine commands a market capitalisation of roughly $8.25 billion, and has a trailing dividend yield of 2.45%.

The post Here’s why the Treasury Wine (ASX:TWE) share price is sliding today appeared first on The Motley Fool Australia.

More reading

• Cheers! Broker tips 20% upside for the Treasury Wine (ASX:TWE) share price
• Why Treasury (ASX:TWE) shares could be a hidden dividend trove
• 3 of the best results on the ASX 200 last week
• Why CSL, Liontown, Nearmap, and Treasury Wine shares are storming higher
• ASX 200 (ASX:XJO) midday update: CSL upgrades guidance, Treasury Wine jumps

Motley Fool contributor Aaron Teboneras 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 Treasury Wine Estates 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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March 2022 could be a good month to go hunting for cheap ASX shares with low price/earnings ratios (p/e ratios) according to the experts.

Businesses can trade at very different valuations. Some have market capitalisations that are around 10x the net profit. Some others are priced at 100x the profit, or more.

Often, those highly-priced businesses have a lot of growth expectations built-in. But it’s possible that the lower-priced ones can surprise the market. But low p/e shares can also disappoint as well. But experts have found these two which look like opportunities:

Shaver Shop Group Ltd (ASX: SSG)

The Shaver Shop share price is rated as a buy by the broker Ord Minnett with a price target of $1.30. That implies a potential double-digit capital growth return over the next 12 months.

It’s a retailer of a wide range of grooming products for men and women. The ASX share is also expanding into other personal care categories like oral care.

The first half of FY22 suffered from store closures, leading to a profit decline of 8.6%, though sales actually increased by 2.8%. Online sales grew 37.2% to $51.6 million. The interim dividend from the cheap ASX share was grown by 40.6% to 4.5 cents per share.

The Shaver Shop share price is valued at 9x FY22’s estimated earnings with a projected grossed-up dividend yield of 11% according to Ord Minnett.

In the second half to date to 17 February 2022, the total sales were up 6.2% thanks to more online sales. Management says that the business is in a “very strong” position. Shaver Shop says that it’s the market leader across ANZ in the growing personal care and grooming segment. It benefits from exclusive access to many of the latest new product launches.

New customers, who shopped during COVID-19, can be converted into loyal, repeat customers that shop with all their personal grooming needs.

Bapcor Ltd (ASX: BAP)

Bapcor is an auto parts business with a number of different brands such as Burson, Autobarn, Tuckline, ABS and Midas.

The Bapcor share price has seen a lot of volatility over the last two years. Cars are back on the road again, but it is down 20% after telling the market that its boss, Darryl Abotomey, was leaving the business earlier than expected after falling out with the board.

However, the cheap ASX share is still focused on growth. It wants to grow its overall network of locations, adding hundreds of outlets over the next few years. The ASX share also has growth aspirations for south east Asia – it has a small Burson network, but it also owns 25% of Tye Soon – a business with operations in multiple Asian countries.

The second half of FY22 is expected to be stronger year on year with no more lockdowns and Omicron impacts softening.

Bapcor is also aiming to be more efficient and sell more products online.

It’s currently rated as a buy by UBS, with a price target of $8.10. It values the Bapcor share price at 17x FY22’s estimated earnings and a grossed-up dividend yield of 4.1%.

The post 2 cheap ASX shares for value investors to buy in March 2022: experts appeared first on The Motley Fool Australia.

More reading

• Leading brokers name 3 ASX shares to buy today
• 2 cheap ASX shares value investors shouldn’t miss
• Here are the top 10 ASX shares today
• Why Bapcor, Mineral Resources, Nanosonics, and Syrah shares are falling today
• Down but not out: Bapcor (ASX:BAP) share price slumps on sluggish first half

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 has recommended Bapcor. 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 Telstra Corporation Ltd (ASX: TLS) share price is in the red today amid the company coming under fire from competitor Optus over its use of hundreds of new mobile sites.

Telstra shares are swapping hands at $3.925 at the time of writing, a 0.88% fall. For perspective, the S&P/ASX 200 Index (ASX: XJO) is up 0.26% so far today.

Let’s take a look at what is happening at Telstra.

5G competition heats up

Telstra’s major mobile competitor Optus has written to the Australian Competition and Consumer Commission complaining about the telco’s 5G strategy, the Australian Financial Review reported.

According to the report, Telstra has registered hundreds of new mobile sites on spectrum it will soon lose access to without any “clear commercial purpose”, Optus alleges.

Optus is concerned Telstra is blocking it from gaining early access to new spectrum slots it secured at a government spectrum auction year.

The company said (as quoted by the AFR):

Especially when Telstra has to undertake physical site installation and decommissioning all within the next 24 months prior to Optus acquiring its spectrum licence in 2024.

Telstra’s conduct represents a serious breach … and should be dealt with in a timely manner to prevent further and ongoing harm to competition in mobile markets.

Spectrum is a collection of radio waves that enable mobile devices to communicate with each other. The federal government manages the allocation of spectrum.

In response to the concerns from Optus, Telstra told the AFR it has registered the new sites to free up other spectrum bands for 5G and migrate its 3G services. The telco said:

This will improve our 5G services whilst also maintaining the quality of our 3G services.

Last week, Telstra entered an agreement with TPG Telecom Ltd (ASX: TPG) that will see it gain access to TPG’s 4G and 5G spectrum.

In return, TPG will gain access to around 3,700 of Telstra’s mobile network assets. However, the ACCC has indicated it will be looking at the deal very closely.

Telstra share price snapshot

The Telstra share price has gained nearly 27% over the past year. In the year to date, it has fallen 6%.

For perspective, the S&P/ASX 200 Index (ASX: XJO) has returned nearly 7% over the past year.

Telstra has a market capitalisation of about $46 billion based on its current share price.

The post Battle for 5G: here’s why Telstra (ASX:TLS) is ruffling feathers of its rival appeared first on The Motley Fool Australia.

More reading

• These 3 ASX 200 shares are topping the volume charts on Wednesday
• What’s with the Telstra (ASX:TLS) share price today?
• 5 things to watch on the ASX 200 on Wednesday
• Analysts name 2 ASX 200 dividend shares to buy in March
• These 3 ASX 200 shares are topping the volume charts on Monday

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 Telstra Corporation Limited. The Motley Fool Australia has recommended TPG Telecom 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 Whitehaven Coal Ltd (ASX: WHC) share price is pushing higher alongside a number of other ASX energy stocks today.

This comes amid rising commodity prices — a likely reaction to Russia’s invasion of Ukraine and the economic sanctions being imposed on Russia by other countries.

At the time of writing, the Whitehaven Coal share price is up 5.33% at $3.56. To compare, the broader S&P/ASX All Ordinaries Index (ASX: XAO) is up 0.1%.

So what’s got investors talking?

What’s going on with the Whitehaven Coal share price?

The last time we heard anything official from the coal mining giant was when it released its half-year results on 17 February. In it, the company reported record-breaking profits and earnings, as well as lowered debt.

Despite dropping 6% on the day of the news, the Whitehaven Coal share price increased by 20% overall in February.

Whitehaven shares have likely been boosted today by global concerns of an impending energy crunch as a result of the Russian invasion.

This is boosting commodity prices, with the price of coal up by 9.6% overnight to US$301 per tonne, and up 36% over the past month.

The energy sector is leading the market today, with the S&P/ASX 200 Energy Index (ASX: XEJ) up 4.4%, making it the best performing sector on the ASX. Second is the S&P/ASX 200 Materials Index (ASX: XMJ), which is up 2.5%.

The world is waiting to see the full impact of the economic sanctions placed on Russia. Global energy supply is likely to be disrupted and energy prices are already rising. This is because Russia is a major global energy supplier. In fact, Russia is the largest exporter of oil, natural gas, and hard coal to the European Union.

Sanctions on Russia change the global energy market

Several countries have imposed a number of sanctions on Russia, including the United Kingdom and the United States. The sanctions have limited the activities of a handful of Russian banks and individuals. This includes Russian President Vladimir Putin and other members of the Russian Government.

The US has cut off a number of Russian energy and transport companies from its credit markets, says The Guardian.

The Washington Post reports that the US and other countries plan to dip into an emergency oil reserve of 60 million barrels to try and ease recent petrol price spikes.

The sanctions on Russia could divert global energy demand to other exporters. Last week, Blue Line Futures’ chief market strategist, Phil Streible, said a number of commodities could rebound as a result.

Whitehaven Coal share price snapshot

Over the past 12 months, the Whitehaven Coal share price has increased by 134%. The shares traded at a high of $3.64 in October as the price of Australian thermal coal hit a new record.

The company has a market capitalisation of $3.49 billion.

The post Why is everyone suddenly talking about Whitehaven Coal (ASX:WHC) shares? appeared first on The Motley Fool Australia.

More reading

• Why did the Whitehaven Coal (ASX:WHC) share price surge 20% in February?
• Whitehaven (ASX:WHC) share price tipped as a buy amid ‘compelling de-gearing and capital returns story’
• Another record: Whitehaven (ASX:WHC) share price sinks 6% despite NPAT soaring to new heights
• Are ASX mining shares the place to be right now?
• 3 ASX 200 shares tipped to shine bright in 2022

Motley Fool contributor Alice de Bruin 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 S&P/ASX 200 Index (ASX: XJO) is tentatively breaking positive ground so far this Wednesday. At the time of writing, the ASX 200 is up, but only just, by 0.13% at 7,105 points.

But let’s dive a little deeper and check out the ASX 200 shares currently at the top of the market’s volume charts, according to investing.com.

The 3 most traded ASX 200 shares by volume so far this Wednesday

Telstra Corporation Ltd (ASX: TLS)

ASX 200 telco Telstra is our first share to take a gander at. At this point, a whopping 21.21 million Telstra shares have been bought and sold on the markets. There has been no major news or announcements out of the telco so far today.

However, the company is suffering a steep share price drop. But, it’s for a pleasing reason. The company has just traded ex-dividend for its upcoming interim payment of 8 cents per share. This drop, as well as Telstra’s ongoing share buybacks, may explain why we are seeing so many of the telco’s shares flying around. 

Santos Ltd (ASX: STO)

Santos is our next share up this Wednesday. This ASX 200 energy company has had an impressive 21.33 million of its shares swap hands so far. This probably has something to do with the dramatic jump in value Santos is currently enjoying. 

The oil company is currently up by 5.6% at $7.67 a share. Higher energy prices are obviously good news for a company that sells energy, so this is the likely cause of the elevated volume figures we are witnessing. 

South32 Ltd (ASX: S32) 

ASX 200 diversified mining company South32 is our final and most traded share so far on Wednesday. The miner has had a notable 21.8 million shares find a new home at the time of writing. It’s been a big day for South32. 

Not only has this company enjoyed a robust 5.26% gain so far, but South32 hit a new 52-week high of $5 a share today as well. That puts the miner up by an impressive 82.5% over the past 12 months. These big gains and new highs are the probable cause of South32’s presence on this list today. 

The post These 3 ASX 200 shares are topping the volume charts on Wednesday appeared first on The Motley Fool Australia.

More reading

• 3 ASX All Ords mining shares cracking new 52-week highs today
• Why Core Lithium, MVP, Rio Tinto, and South32 shares are rising today
• Will Mike Cannon-Brookes bring an extra $1 billion to the table in his AGL takeover bid?
• This commodities index just saw its biggest rise in over 10 years. What might this mean for ASX 200 shares?
• ASX 200 (ASX:XJO) midday update: Rio Tinto, South32 storm higher, PointsBet sinks

Motley Fool contributor Sebastian Bowen owns Telstra Corporation 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 owns and has recommended Telstra Corporation 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 Metals Australia Ltd (ASX:MLS) are surging 49% into the green today to now trade 7.6 cents apiece.

Investors are responding well to a company announcement that sees Metals Australia announce assay results from the company’s Manindi Lithium Project.

Metals Australia shares have broke away from the broad index over the past 5 days of trading, and are now close to doubling in that time on last check.

It has also surpassed the S&P/ASSX 200 Metals & Mining Index (ASX: XMM) in that time, even as all commodities are at decade long highs, as shown on the chart below.

What did Metals Australia announce?

The ASX mining company announced the release of assay results from the “systematic rock chip sampling program testing key pegmatites” at Manindi, located in WA.

Metals Australia says that it undertook a systematic rock chip sampling program over a 500m strike length within nearby pegmatites, including the recently discovered “Foundation Pegmatite”.

“Over 1.2km strike length of Lithium-CaesiumTantalum (LCT) bearing pegmatites have been sampled at an average spacing of approximately 40 metres”, the company said.

From its results, the company says that “outstanding” sample results were collected and that lithium mineralisation has been confirmed along the entire 500 metres strike length of this Foundation Pegmatite.

“Highly anomalous lithium (Li), Tantalum (Ta), Caesium (Cs) and Rubidium (Rb) results were produced from
all pegmatites sampled…including up to 2.30% Li2O and 0.70% Rb with an average of 1.29% Li2O and 0.51% Rb over the entire 500 metre strike length”, it remarked.

The company also advised that it is currently testing a reverse circulation (RC) drilling program of up to 3,500 metres at the site that has already intersected up to 16 metres downhole of mineralised pegmatite.

Now Metals Australia is waiting on the samples of this above RC program to be submitted to the laboratory for examination.

The announcement follows on from an update on 28 February where Metals Australia advised it had intersected “high-purity flake-graphite concentrate results” at itsLac Rainy High-Grade Graphite Project. Tests there showed results were up to 96.8% total graphitic carbon (Cg) following the flowsheet development program.

Metals Australia share price summary

In the last 12 months, the Metals Australia share price has exploded 9% and is up another 97% this year to date.

During the past month of trading, shares have soared further into the green such that Metals Australia is thus leading most ASX shares in 2022.

The post ‘Outstanding lithium results’ are sending this ASX mining share rocketing 49% today appeared first on The Motley Fool Australia.

More reading

• Here’s why the Beach Energy (ASX:BPT) share price is climbing today
• Top broker tips another 28% upside for the Allkem (ASX: AKE) share price
• Here’s why all eyes will be on the size of Crown’s (ASX:CWN) potential AUSTRAC fine
• How did ASX lithium shares perform in February?
• 2 ASX 50 shares Morgans rates as buys

Motley Fool contributor Zach Bristow 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 Beach Energy Ltd (ASX: BPT) share price is lifting on Wednesday.

Beach Energy shares are currently swapping hands at $1.60, a 4% gain. In comparison, the S&P/ASX 200 Index (ASX: XJO) is up 0.28%.

Let’s take a look at what might be impacting the Beach Energy share price today.

Surging oil prices

In global news, soaring oil prices may be boosting the Beach Energy share price today. This morning, my Foolish colleague James noted oil prices at 7-year highs could help the company have a good day.

Russia’s invasion of Ukraine has sparked fears of supply disruptions, CBS reported. International benchmark Brent crude oil hit $107.57 per barrel on Tuesday in the United States, the highest price since July 2014.

Based on Bloomberg figures, Brent Crude surged 7% to US$104.97 at market close on Tuesday, while WTI crude oil climbed 2.45% to $105.94.

Beach to offload assets

Closer to home, Beach Energy today revealed to the ASX market it would offload some of its assets in the Cooper Basin. Bass Oil Ltd (ASX: BAS) will acquire an interest in eight of Beach’s Cooper Basin tenements for $650,000. A subsidiary of Beach has entered a sale and purchase agreement with Bass.

The assets include the accretive Worrior and Padulla oil fields and properties that contain appraisal and possible exploration targets.

Subject to shareholder approval, Bass will raise $1.2 million via the placement of 800 million Bass shares on the market at $0.0015 per share.

Looking ahead, my Foolish colleague Zach reported on Monday JP Morgan analysts are optimistic Beach Energy shares can climb higher.

The broker highlighted the company is on track with its growth aspirations, offers good exposure to a diversified suite of assets and has zero net debt.

Beach Energy share price snapshot

The Beach Energy share price has slipped 1.9% in the past 12 months but is surging 27% year to date.

For comparison, the benchmark ASX 200 has returned about 5% over the past year.

In the past month alone, Beach Energy shares have climbed 9%, while they have jumped almost 5% in a week.

Beach Energy has a market capitalisation of about $3.6 billion.

The post Here’s why the Beach Energy (ASX:BPT) share price is climbing today appeared first on The Motley Fool Australia.

More reading

• 5 things to watch on the ASX 200 on Wednesday
• 5 things to watch on the ASX 200 on Tuesday
• Up 20% this year, why the Beach Energy (ASX:BPT) share price can climb higher: broker
• 5 things to watch on the ASX 200 on Wednesday
• 5 things to watch on the ASX 200 on Tuesday

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 Allkem Ltd (ASX: AKE) share price is gaining quietly today and, at the time of writing, is 0.36% higher at $9.735.

After a solid period last year, the Allkem share price is struggling in 2022, down 7% this year to date.

However, one broker is heavily bullish on the lithium company and reckons there’s plenty more upside potential for investors to bite into.

Can Allkem climb another 28% this year?

Analysts at Swiss investment bank UBS expect Allkem to deliver a strong result this year that should bode well for its share price.

The broker reckons Allkem will secure higher pricing for its lithium products and this should translate to higher earnings in 2022.

Considering that spodumene and lithium prices have soared 63% and 85% respectively this year already, the broker notes Allkem’s earnings should benefit.

Further, the company’s guidance on lithium carbonate pricing is for US$25,000 per tonne, a step ahead of the UBS forecast of US$23,000 a tonne.

This comes as Allkem renegotiated a one-third split in prices for its long-term carbonate contracts. This could lead to a phasing out of fixed prices.

UBS notes that Allkem’s “realisation is improving structurally” and that “spot prices are maintaining particularly high levels, which is likely to see strong upward moves in Allkem’s realised prices through the year”.

The Swiss broker is bullish on Allkem, rating it a buy and valuing the company at $12.40 per share. That signals a 28% upside potential at the time of writing.

Meanwhile, the bulk of analysts covering Allkem also have it as a buy with more than 83% of brokers urging their clients to purchase the stock, according to Bloomberg Intelligence. The consensus price target is $13.55.

This is substantially higher than for the same time last year. Then only 46% of analysts were saying to buy the stock and 7% were advising to sell.

As of today, there are no brokers advocating to sell Allkem, according to Bloomberg.

Allkem share price snapshot

In the last 12 months, the Allkem share price has surged more than 114% but has faltered almost 7% this year to date.

During the past month though, the company’s shares have reversed course after adding almost 11% in gains during the past week of trading.

The post Top broker tips another 28% upside for the Allkem (ASX: AKE) share price appeared first on The Motley Fool Australia.

More reading

• How did ASX lithium shares perform in February?
• Lithium bonanza! Broker says the Allkem (ASX:AKE) share price could double
• 5 things to watch on the ASX 200 on Tuesday
• ASX 200 (ASX:XJO) midday update: Zip to buy Sezzle for $491m, GrainCorp storms higher
• Allkem (ASX:AKE) share price higher amid results and ‘surging demand for lithium’

Motley Fool contributor Zach Bristow 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 Crown Resorts Ltd (ASX: CWN) share price is recovering on Wednesday despite concerns that potential AUSTRAC fines could impact the $8.9 billion takeover offer from private equity firm, Blackstone.

The casino operator’s share price dipped yesterday after AUSTRAC announced it is pursuing civil penalties against Crown in the Federal Court.

The watchdog claims Crown failed to comply with anti-money laundering and counter-terrorism financing laws.

At the time of writing, the Crown share price is $12.42, 0.4% higher than its previous close. For context, the S&P/ASX 200 Index (ASX: XJO) is currently up 0.19%.

Let’s take a look at what the proceedings might mean for the planned takeover.

Could this impact the $8.9 billion Crown takeover?

The AUSTRAC investigation was addressed in the takeover’s implementation deed. It states that any fine given by AUSTRAC is seen as a ‘prescribed regulatory event’ and thus, won’t be treated as a ‘material adverse change’.

However, according to reporting by The Australian, if fines handed to Crown total more than $750 million, Blackstone will be able to walk away from the takeover unscathed.

Blackstone declined to comment on the matter.

The case filed against Crown alleges Crown Melbourne breached Australia’s anti-money laundering and counter-terrorism financing laws 382 times. Meanwhile, Crown Perth allegedly crossed them 165 times.

Each breach of the law could cost Crown between $18 million and $22.2 million.

Thus, the fines could theoretically cost the company billions of dollars. Though, it’s worth noting that AUSTRAC will likely consider Crown’s ability to pay before deciding on an amount.

This is likely no surprise to keen-eyed market watchers. The casino operator’s half-year earnings report stated AUSTRAC’s investigation was likely to result in civil penalty proceedings.

It also said it’s “likely that Crown Melbourne and Crown Perth will be required to pay significant civil penalties” on the back of the proceedings.

However, the company hasn’t put aside any provisions to pay the fines, stating it’s impossible to estimate the potential cost.

Crown share price snapshot

The Crown share price has been cruising through 2022 so far.

It has gained 3% since the year began. It’s also currently 24% higher than it was this time last year.

Crown’s current share price is 5% lower than Blackstone’s bid at $13.10 per share.

The post Here’s why all eyes will be on the size of Crown’s (ASX:CWN) potential AUSTRAC fine appeared first on The Motley Fool Australia.

More reading

• ASX 200 (ASX:XJO) midday update: Zip shares tumble, AUSTRAC takes aim at Crown
• Crown (ASX:CWN) share price falls on AUSTRAC court proceedings news
• Crown (ASX:CWN) share price dips despite growing confidence the company has ‘turned the corner’
• Why Bendigo and Adelaide Bank, Crown, JB Hi-Fi, and Newcrest are pushing higher
• ASX 200 (ASX:XJO) midday update: JB Hi-Fi impresses, Crown accepts $8.9bn Blackstone bid

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 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 past month was thrilling for some ASX-listed lithium shares, yet underwhelming for others.

In typical earnings season fashion, some companies received praise from shareholders while others were punished. Meanwhile, prices for the electric-enabling commodity coasted further upwards — strengthening by ~28% during the month.

Let’s shine a light on some of the most well-known ASX lithium shares. Where did they go right, and where did they go wrong in February?

ASX lithium shares: fully charged or battery depleted?

Allkem Ltd (ASX: AKE)

The first company on our list, Allkem, performed reasonably well in February — gaining 4.9%. Although, the company’s shares had been trading sideways for most of the month. This changed after publishing its half-year results.

Importantly, the result marked the first since Allkem was formed through the merger of Galaxy Resources and Orocobre. The ASX lithium share delivered a US$13 million net profit for the half — climbing out of losses for the first time since 2019.

Pilbara Minerals Ltd (ASX: PLS)

Much like Allkem, Pilbara Minerals produced an inaugural profit for the six months ending 31 December 2021. However, the market did not respond in a positive manner to the announcement. Unfortunately, the profitable result was overshadowed by plans for the CEO, Ken Brinsden, to step down at the end of 2022.

The Pilbara Minerals share price trended downwards throughout February after a disappointing second-quarter update. Due to outages and the labour shortage, the company missed its downgraded guidance and expected to downgrade its FY22 guidance.

Overall, this ASX-listed lithium share fell 14.6% during the last month.

Liontown Resources Limited (ASX: LTR)

Changing it up, Liontown Resources is one lithium company that did not report earnings during February. But, it still made waves on 16 February after announcing a supply agreement with US electric vehicle maker Tesla Inc (NASDAQ: TSLA).

The landmark deal will see Liontown supply 700,000 tonnes of lithium spodumene concentrate to Tesla over a five-year period. Shares in the ASX lithium player surged 16% following the announcement — putting the share price up 2.5% for the month.

Core Lithium Ltd (ASX: CXO)

Finally, we arrive at Core Lithium, the smallest company by market capitalisation in this February roundup. Shareholders of this upcoming lithium explorer were jumping for joy last month.

Drilling results showed further high-grade lithium intersections at its Finniss Lithium Project. The stellar finding helped shares in this ASX lithium company gain 5.3% during the last month.

The post How did ASX lithium shares perform in February? appeared first on The Motley Fool Australia.

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Motley Fool contributor Mitchell Lawler owns Tesla. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Tesla. 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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