The Panoramic Resources Ltd (ASX: PAN) share price shot up on Tuesday on the back of a positive drilling update.

The ASX nickel share finished the day at 36.5 cents, a 10.61% gain. In contrast, the S&P/ASX 200 Index (ASX: XJO) climbed 0.19% today.

Let’s take a look at why this ASX nickel share had such a stellar day.

‘Standout’ drill results

Panoramic reported promising drill results from the company’s Savannah Nickel Project in Western Australia.

The company said the “standout” drill result was drill hole KUD1891. This returned an upper and lower mineralisation lens intersection of 40.55m at 1.96% Nickel, 0.75% copper, and 0.15% cobalt.

Drill hole KUD1871 returned upper mineralisation lens intersection of 16 metres at 2.08% nickel, 0.8% copper, and 0.16% cobalt. Meanwhile, drill hole 1874 delivered an intersection of 1.93% nickel, 1.01% copper, and 0.14% cobalt.

The company said these intersections were both thicker and higher grade than predicted.

Managing director and CEO Victor Rajasooriar said the results provide strong confidence in the company’s life of the mine plan and the future of the Savannah Nickel Operation. He added:

The continued success of drilling in the new Upper Splay in the Eastern Zone of Savannah North may also add to our mining inventory which is also very pleasing.

We look forward to announcing more drill results from both areas in due course.

Share price snapshot

The Panoramic share price has soared 170% in the past year while it is up 35% year to date.

In contrast, the S&P/ASX 200 Index (ASX: XJO) has returned about 10% in the past year.

Panoramic has a market capitalisation of about $748.6 million based on its current share price

The post Why did this ASX nickel share surge 11% today? appeared first on The Motley Fool Australia.

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• The price of nickel is soaring and these ASX mining shares are cashing in

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 National Australia Bank Ltd. (ASX: NAB) share price has risen by 9% in 2022 to date.

It has gone through volatility over the last few months, like many businesses. But NAB shares show ongoing growth over longer time periods.

In the past six months, the NAB share price has gone up by 16%. In the last 12 months, the NAB share price has risen by around 22%. 

But after outperforming the S&P/ASX 200 Index (ASX: XJO) over each of the above time periods, is the big four ASX bank now fully valued or is it still an opportunity?

Broker opinions on the NAB share price

Lots of analysts now think that the bank offers very little capital growth upside. A few have price targets that are lower than where NAB is today.

For example, both Morgans and Citi have a price target of $30.50. That implies a decline of around 5% over the next year if the brokers are right. However, they have ratings of a hold and neutral on the big four ASX bank.

Morgan Stanley is another broker that doesn’t think the NAB share price will do much over the next 12 months. It has a price target of $31.50 on the bank. That suggests a possible decline of around 2% over the next 12 months.

Credit Suisse is a broker which has a slightly positive outlook for the bank, which is also neutral, with a price target of $32.40. This broker thinks that banks are going to benefit once the Reserve Bank of Australia (RBA) starts increasing the interest rate. The broker thinks the net interest margin (NIM) will increase over the next year.

One of the most positive brokers is Ord Minnett. It has a NAB share price target of $33.50. That implies a potential rise of 4.3% in the next year.

Share buyback 

One of the things that brokers have noticed is the bank’s recent share buyback.

NAB recently completed a $2.5 billion on-market buyback and announced a further on-market buyback of up to $2.5 billion.

This will allow the bank to continue managing its common equity tier 1 (CET1) capital ratio towards its target range of between 10.75% to 11.25% over time.

The NAB CEO Ross McEwan said:

Our capital management strategy reflects the importance of maintaining a strong balance sheet through the cycle while allowing us to continue to support growth and deliver improved shareholder returns.

The further $2.5 billion on-market buy-back announced today supports our ambition to reduce share count and increased sustainable ROE (return on equity) benefits to our shareholders.

NAB share price snapshot

After the 0.3% increase on Tuesday, NAB has a market capitalisation of $103 billion according to the ASX.

The post Is the NAB share price fully valued in April? appeared first on The Motley Fool Australia.

More reading

• ASX 200 banks bounce bank in March. Here are the April forecasts from analysts
• The NAB share price almost doubled the ASX 200’s return in March
• This ASX blue-chip share has notched up 9 52-week highs this month
• How did ASX 200 bank shares perform today?
• What’s the outlook for the NAB (ASX:NAB) share price in April?

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 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) enjoyed yet another day of gains on the markets on Tuesday, albeit with a dent at the end of the trading day. The ASX 200 ended up finishing at 7,527.9 points, up 0.19%.

This gain is just the latest chapter in what has been a very successful month for the index. Over the past month, the ASX 200 has now gained a healthy 6.95%. And although the index is still in the red for 2022 so far, its fall is only under 1%. That’s not a bad turnaround for an index that had shed almost 10% of its value by the end of January.

But now that the ASX 200 has staged such a robust recovery and is back above 7,500 points, many investors might be wondering how long we have to go until we are once again at a record high.

So how high has the ASX 200 Index ever been?

Well, the ASX 200’s current high watermark is 7,632.8 points. That’s the peak we saw back in mid-August last year. Prior to that date, the index had been on a tear, rising more than 15% between the start of 2021 and the record high. It was only in May 2021 that the index exceeded its previous, pre-COVID, all-time high too. But, as is obvious, the share market has more or less treaded water ever since.

Even so, the rally we have seen since early March would, no doubt, be encouraging for ASX investors. Now, there are only another 104.9 points, or 1.39%, of gains left before we’re once again at a record high for the ASX 200. Let’s see how long it takes to get there!

The post What is the highest the ASX 200 has ever been? appeared first on The Motley Fool Australia.

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• 5 things to watch on the ASX 200 on Tuesday

Motley Fool contributor Sebastian Bowen 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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ASX green metals are in demand lately, but could a bubble be forming in the green metals sector?

So-called ‘green metals’ are those used in cleaner-energy applications. Such shares on the ASX include Pilbara Minerals Ltd (ASX: PLS), Firefinch Ltd (ASX: FFX), and Mineral Resources Ltd (ASX: MIN). Others include Centaurus Metals Limited (ASX: CTM) and Liontown Resources Limited (ASX: LTR).

So what is the outlook for ASX green metals shares?

Green metal transition

Green metals are metals that will be prominent in the transition from fossil fuels to clean energy. They include lithium, graphite, rare earths, nickel, and copper.

Asked if a bubble could be developing in the sector, Argonaut Natural Resources Fund portfolio manager David Franklyn told the Australian Financial Review:

The green materials sector is certainly volatile, which in part reflects the fact that demand is rising quicker than supply. This has been evident in the huge increase in spodumene prices and the spike in nickel prices.

Against that backdrop, it’s not unexpected that the sector may attract speculative money whilst also making the valuation of stocks more problematic.

A stock market bubble can form when there is a significant surge in share prices beyond the fundamental value of the companies.

Franklyn noted there has been a strong rebound of multiple lithium stocks in March, including Pilbara and Firefinch.

Share price recap

The Pilbara Minerals share price has soared 26% in a month while Firefinch has rocketed 73%. Meanwhile, Mineral Resources has gained 24%, Liontown Resources has leapt 28%, and Centaurus Metals has surged 17%.

In contrast, the S&P/ASX 200 Index (ASX: XJO) has jumped just under 6% in a month.

The post Is a bubble forming for ASX green metals shares? appeared first on The Motley Fool Australia.

More reading

• Here are the 3 most heavily traded ASX 200 shares on Tuesday
• Mineral Resources share price leaps on ‘unprecedented’ lithium demand update
• 2 lithium ASX shares to buy in April 2022: experts
• 3 ASX shares to buy in the hottest sector right now: experts
• The Pilbara (ASX:PLS) share price soared 18% in March. Here’s why

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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