Month: May 2022

The Woodside Energy (ASX: WDS) share price has remained steady on Wednesday.

The company’s share price is currently trading at $29.13, the same as yesterday’s closing price. For perspective, the S&P/ASX 200 Energy Index (ASX: XEJ) is 0.57% higher at the time of writing.

So let’s check what’s happened with Woodside today?

First day under a new name

Today is the first day Woodside is trading under its new name and ASX ticker. Previously, the company was trading as Woodside Petroleum Ltd (ASX: WPL).

The new name was approved by shareholders at the company’s AGM on Thursday.

Woodside shareholders also overwhelming approved the planned merger with BHP Group Ltd (ASX: BHP)’s petroleum business on 19 May. The merger is scheduled for completion on 1 June.

In other news today, Woodside CEO Meg O’Neill today said demand for LNG is on the rise amid the Russian invasion of Ukraine, Channel News Asia reported. Speaking at the World Gas Conference in Daegu, South Korea, O’Neill said:

With the invasion, we are seeing the world try to move away from Russian hydrocarbons and that means that demand for LNG from places like Australia is up.

We do expect prices to remain elevated for the next year, perhaps next few years as the world tries to rebalance gas in supply and demand.

In the first quarter of 2022, Woodside reported an increase in LNG sales volumes and revenue.

Natural gas prices are up 0.28% to US$8.8210 MMBtu, Trading Economics data shows. Crude oil WTI prices have also jumped 1.21% to US$111.12 per barrel.

Woodside share price snapshot

The Woodside share price has soared 32% in the past year, while it is up 28% in the year to date.

For perspective, the S&P/ASX 200 Energy Index has returned about 26% in the past year.

Woodside has a market capitalisation of about $4.2 billion based on the current share price.

The post Woodside share price steady on first day trading under new name appeared first on The Motley Fool Australia.

More reading

• What exactly is the difference between Woodside Energy (WDS) and Woodside Petroleum (WPL)?
• 5 things to watch on the ASX 200 on Wednesday
• Own ASX 200 energy shares? Here’s the ‘key risk to watch’ post election
• ASX shares paid out a record $98b in dividends in the 12 months to March. Which are the star performers?
• What’s boosting the Woodside share price 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 Scott Phillips.

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The tech sector has been a very difficult place to invest this year due to concerns over a potential global recession and rising rates.

For example, the S&P ASX All Technology index is down by approximately one-third in 2022.

While this is disappointing, the team at Goldman Sachs believe there are still some quality tech shares trading at very attractive prices.

Its analysts have been screening for tech shares that they believe will continue to prosper in the current environment and have picked out their favourite.

Goldman explained:

Given concerns around a global recession and the continued de-rating of the ANZ tech sector, we screen for Australia Technology names (ANZ software companies >$250mn market cap) that look well-placed to navigate a more challenging macro environment based on FCF margins, b/s strength and recurring revenue.

The tech share that came out on top was enterprise software provider TechnologyOne Ltd (ASX: TNE).

What did the broker say?

Goldman likes TechnologyOne due to its defensive qualities, high recurring revenue, and strong long term growth potential.

Defensive end markets (public sector and education) with IT spending that are relatively resilient to recessions (see our initiation here). Contractual CPI pricing pass-through, high recurring revenue, minimal churn (<1%), high margins and net cash are attractive attributes in a slowing economy. In addition, TNE’s recent result highlight continued momentum towards the +A$500mn FY26 ARR target, providing valuable earnings growth visibility over coming years, in our view.

According to the note, the broker has a buy rating and $13.30 price target on the tech company’s shares

Based on the current TechnologyOne share price of $10.20, this implies potential upside of 30% for investors over the next 12 months.

The post Leading broker names the best ASX tech share to buy following 2022’s tech meltdown appeared first on The Motley Fool Australia.

More reading

• Top brokers name 3 ASX shares to buy today
• Why Nufarm, Sayona Mining, Tabcorp, and TechnologyOne shares are falling
• Here’s why ASX 200 tech shares are under pressure on Tuesday
• ASX 200 midday update: Nufarm, Tabcorp and TechnologyOne tumble
• TechnologyOne share price slides despite strong first-half SaaS growth

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 Scott Phillips.

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The BrainChip Holdings Ltd (ASX: BRN) share price is tumbling today despite no news having been released by the company.

At the time of writing, the BrainChip share price is $1.09, 5.65% lower than its previous close.

For context, the S&P/ASX 200 Index (ASX: XJO) is currently 0.69% higher.

Let’s take a closer look at what might be weighing on the neuromorphic computing company’s stock today.

What’s going wrong for the BrainChip share price today?

BrainChip shares are having a rough day on Wednesday, slumping more than 5% as the tech sector struggles.

Right now, the S&P/ASX 200 Information Technology Index (ASX: XIJ) is down 2.6% while the S&P/ASX All Technology Index (ASX: XTX) is recording a 2.05% drop.

The sector is struggling following the tech-heavy Nasdaq Composite‘s 2.35% tumble overnight.

The dip was led by social media stock Snap Inc (NASDAQ: SNAP). It plummeted 43% on the back of a negative trading update.

It was also likely driven by fears of a recession in the United States, The Motley Fool’s Bernd Struben reported this morning.

Suffering alongside the BrainChip share price is stock in tech giants Block Inc (ASX: SQ2) and Megaport Ltd (ASX: MP1). They’ve both tumbled more than 5%.

However, the dip hasn’t been enough to send BrainChip’s stock into the long-term red.

Right now, it’s trading for 38% more than it was at the start of 2022. It’s also 91% higher than it was this time last year.

At the current share price, BrainChip presides a market capitalisation of $1.97 billion.

The post Why is the BrainChip share price tumbling 5% on Wednesday? appeared first on The Motley Fool Australia.

More reading

• Why BHP, BrainChip, Chalice Mining, and Fisher & Paykel shares are dropping
• Why BrainChip, Codan, Elders, and Karoon Energy are storming higher
• Why is the BrainChip share price rocketing 15% higher today?
• The BrainChip share price just plunged 8%, what happened?
• Nearmap share price jumps 9% on Friday

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 positions in and has recommended Block, Inc. and MEGAPORT FPO. The Motley Fool Australia has positions in and has recommended Block, Inc. The Motley Fool Australia has recommended MEGAPORT FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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ASX dividend shares could be the answer if investors are looking for investment income.

Interest rates are rising, but they are still low. After a drop in the ASX share market, a number of potential dividend options now have higher prospective dividend yields.

A high yield alone may not necessarily be enough to be a good dividend option. What happens if the business regularly cuts its dividend? That’s not very useful for income reliability.

But, the below two ASX dividend shares have continued to grow their dividends.

Brickworks Limited (ASX: BKW)

Brickworks is one of the older businesses on the ASX. It has been operating for more than half a century.

I think it’s an interesting business. While the name and heritage is all about its building product operations, the attraction for me is its dividends also come from other assets.

Brickworks can point to the fact that its normal dividend has been maintained or increased every year since 1976.

One of the main assets is its large shareholding of Washington H. Soul Pattinson and Co. Ltd (ASX: SOL) shares. It’s an old investment house that owns a large portfolio of different investments across various sectors including telecommunications, resources, property, agriculture, and financial services.

Soul Pattinson has been paying a steadily-growing dividend, which Brickworks is benefiting from.

Brickworks also has a property segment through a joint venture with Goodman Group (ASX: GMG). Brickworks divests excess land into this joint venture where industrial buildings are built on that land. The ASX dividend share has enough land for a few years of building projects before those industrial estates are full.

At the current Brickworks share price, it has a grossed-up dividend yield of 4.2%. I think it’s a solid starting yield.

Charter Hall Long WALE REIT (ASX: CLW)

This is a real estate investment trust (REIT), as the name might suggest.

It owns properties across a variety of sectors including office, industrial, retail, agri-logistics, and telecommunication exchanges.

What links all of those properties is that they all have long lease contracts, leading to the ASX dividend share having a long weighted average lease (WALE) expiry of around 12 years. I think this provides attractive rental visibility and stability for investors.

The business has been achieving distribution growth for investors. As of the FY22 first half, 46% of its leases were inflation-linked (which is currently running high) and 54% of leases were fixed with an average fixed increase of 3.1%.

The property portfolio is worth approximately $7 billion, spread across around 550 properties. The occupancy rate is 99.9%, so almost every property is being fully utilised.

The ASX dividend share is expecting to generate FY22 operating earnings per security (EPS) of at least 30.5 cents, representing growth of at least 4.5%. With a distribution payout ratio of 100%, that would equate to a distribution yield of 6.2% in FY22.

The post 2 ASX dividend shares I’d buy for passive income appeared first on The Motley Fool Australia.

More reading

• Is it reasonable to expect share price growth AND reliable dividends from ASX shares?
• Where I’d invest $10,000 into ASX shares this week
• These ASX All Ordinaries shares have the greatest margin risks from surging inflation: UBS
• I’ll never sell this ASX dividend share. Here’s why
• 2 ASX dividend shares I’d buy with $1,000

Motley Fool contributor Tristan Harrison has positions in Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Brickworks and Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia has positions in and has recommended Brickworks and Washington H. Soul Pattinson and Company Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The S&P/ASX 200 Index (ASX: XJO) is on course to record a solid gain on Wednesday. In afternoon trade, the benchmark index is up 0.7% to 7,176.5 points.

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

BHP Group Ltd (ASX: BHP)

The BHP share price is down 9% to $43.35. The catalyst for this has been the Big Australian’s shares trading ex-dividend for its in-specie dividend. Eligible BHP shareholders can now look forward to receiving one new Woodside Energy Group Ltd (ASX: WDS) share for every 5.534 BHP shares they own when the demerger of BHP’s petroleum assets completes on June 1.

BrainChip Holdings Ltd (ASX: BRN)

The BrainChip share price is down 5.5% to $1.09. This follows news that its executives have been granted very generous stock issues. For example, the company’s CEO, Sean Hehir, who was only appointed to the role in November, has been issued over 7 million restricted shares. Shareholders clearly weren’t happy, with almost a quarter of votes at the annual general meeting against the issue of 6 million of these shares. However, this wasn’t quite enough to stop the shares from being issued.

Chalice Mining Ltd (ASX: CHN)

The Chalice Mining share price is down 6% to $6.27. This follows the completion of the mineral exploration company’s capital raising this afternoon. Chalice has successfully raised approximately $100 million at a 10% discount of $6.00 per new share. The proceeds will be used to fund ongoing exploration and pre-development activities at its 100%-owned Julimar Nickel-Copper-PGE Project.

Fisher & Paykel Healthcare Corp Ltd (ASX: FPH)

The Fisher & Paykel Healthcare share price is down almost 2.5% to $18.29. Investors have been selling this medical device company’s shares following the release of its full-year results. The company reported a 15% decline in operating revenue to NZ$1.68 billion and a 28% drop in net profit after tax to NZ$376.9 million.

The post Why BHP, BrainChip, Chalice Mining, and Fisher & Paykel shares are dropping appeared first on The Motley Fool Australia.

More reading

• ASX 200 midday update: BHP and Pilbara Minerals shares tumble
• What exactly is the difference between Woodside Energy (WDS) and Woodside Petroleum (WPL)?
• Fisher & Paykel share price exhales following ‘strong’ full-year results
• Why is the BHP share price sinking 10% today?
• 5 things to watch on the ASX 200 on Wednesday

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 Scott Phillips.

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The S&P/ASX 200 Index (ASX: XJO) has shaken off the meandering of the past two days so far on Wednesday. The ASX 200 initially opened strong this morning, but has been brought down to earth over the course of the trading day, and is now up by 0.7% at around 7,180 points.

So let’s dive a little deeper and check out the ASX shares that are currently sitting at the peak of the ASX 200’s share trading volume charts, according to investing.com.

The 3 most traded ASX 200 shares by volume this Wednesday

Telstra Corproation Ltd (ASX: TLS)

Telstra is our first ASX 200 share to have a glance at this Wednesday. At the time of writing, a hefty 11.16 million Telstra shares have been bought and sold on the markets thus far. There hasn’t been anything of note out of the telco itself today. However, the Telstra share price is shooting ahead. It’s currently up by a market-beating 1.42% at $3.92 a share. We can probably thank this rise for the elevated volumes we are seeing with this blue-chip share today.

Pilbara Minerals Ltd (ASX: PLS)

From TLS to PLS! ASX 200 lithium stock Pilbara Minerals is next up this Wednesday. So far today, a notable 15.9 million Pilbara shares have found their way to a new home. We haven’t heard anything out of the Pilbara offices today either. But Pilbara shares are copping quite the beating today and have lost almost 4.5% of their value. This could be related to the company’s auction results, which were released yesterday. Although these were promising, they still might not have met investors’ lofty expectations. It’s this steep drop that has probably resulted in Pilbara’s place on this list today.

Tabcorp Holdings Limited (ASX: TAH)

For the second day in a row, it’s ASX 200 gaming company Tabcorp that takes out the top spot. So far in this Wednesday’s trading session, a whopping 38.93 million Tabcorp shares have swapped hands. Tabcorp spun out its Lottery division this week, which is now its own ASX company in The Lottery Corporation (ASX: TLC). But investors apparently have been drawn to the newer, shinier share, with Tabcorp copping a 4.55% selldown so far today to $1.01. So it’s likely that it is this selloff, combined with the machinations of a demerger, that has elevated Tabcorp to the ASX 200’s most traded share so far today.

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

More reading

• Top brokers name 3 ASX shares to buy today
• Could Tabcorp’s newly demerged Lottery Corporation become a takeover target?
• ASX 200 midday update: BHP and Pilbara Minerals shares tumble
• Is Telstra an ASX 200 share worth owning right now?
• Tabcorp share price slumps another 7% following demerger

Motley Fool contributor Sebastian Bowen has positions in 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 has positions in 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 Scott Phillips.

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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.

Many video game companies have launched non-fungible token (NFT) projects over the past year. Ubisoft (OTC: UBSFF) released NFTs for Ghost Recon: Breakpoint, Konami (OTC: KNAMF) auctioned off NFTs for its classic Castlevania series, and Square Enix (OTC: SQNNY) sold its biggest Western developers — including the creators of Tomb Raider and Deus Ex — to fund the development of new blockchain and NFT projects.

But will NFT projects generate meaningful revenues for gaming companies? Let’s review the potential profits and pitfalls.

How do NFTs work?

NFTs, like cryptocurrencies, are minted on a decentralized ledger called a blockchain. But unlike cryptocurrencies, they aren’t “fungible,” or equivalent to each other. For example, a single Bitcoin can be directly traded for another Bitcoin because they have the same inherent value. NFTs can’t be exchanged that way because they contain data that is linked to a digital asset like a picture, video, or song.

Simply put, NFTs are digital logs that allow a person to own the underlying digital asset. Digital artists can mint their artworks as NFT token. These represent the ‘originals’, as opposed to the ‘copies’ that can be downloaded online — or they can use algorithms to randomly generate unique digital artworks with a wide range of traits.

Critics claim NFTs are inherently worthless because they’re simply links to digitally-copied assets. However, NFT evangelists believe it’s the scarcity of those links that give them value — in the same way physical collectibles like paintings, baseball cards, coins, and comic books are valued.

Why do video game companies want to sell NFTs?

It’s easy to see why video game companies would want to sell NFTs. Sales of in-game items, which are used to monetize most modern games, have already trained gamers to accept the concept of digital ownership.

At the same time, higher-end ‘triple A’ video games have become more expensive to produce over the past decade. Ubisoft’s original Assassin’s Creed (2007) reportedly cost $20 million to develop, but the company reportedly spent $100 million on Assassin’s Creed IV: Black Flag (2013). Square Enix reportedly spent $60 million to produce Final Fantasy XIII (2009), but Shadow of the Tomb Raider (2018) cost nearly $100 million.

Those rising costs have made it difficult for video game companies to recoup their production costs with an average price tag for a game of $60. That widening gap is pushing them to launch more downloadable content (DLC) packs and paid in-game content to maximize revenue per player. 

Therefore, creating NFTs as rare collectibles, which can then be sold on third-party marketplaces, makes strategic sense for gaming companies.

But will gamers actually buy NFTs?

Unfortunately, gamers don’t seem as enthusiastic about that plan. Ubisoft minted thousands of NFTs for Ghost Recon: Breakpoint and gave them to users free, but its users then resold fewer than 100 in the first 120 days, according to Ars Technica. That indicates that excitement was low. Konami reportedly generated about $150,000 in revenue by selling its Castlevania NFTs earlier this year, but that’s still a drop in the pond for a company that is expected to generate $2.31 billion in sales this year.

That’s why Square Enix’s decision to sell its Western studios for about $300 million to chase NFT-based games raised some eyebrows. It might consider creating NFTs to be a lower-risk strategy than funding triple-A games like Shadow of the Tomb Raider — which broadly missed its own sales targets — but it seems doubtful that NFTs or NFT-driven games will generate as much revenue as its divested franchises.

Most video game companies will shun NFTs

NFTs seemed like the next big thing last year as retail investors piled into blockchain-related assets. However, inflation and rising interest rates have driven investors away from those riskier assets over the past six months, and the prices of cryptocurrencies and NFTs have plummeted. That decline is reflected in the crash of Defiance Digital Revolution (NYSEMKT: NFTZ), the NFT-oriented exchange-traded fund (ETF) that launched last December.

That ongoing market rotation, which could continue for the foreseeable future, could easily wipe out the weaker ‘altcoins’ and most NFTs. I believe that a wake-up call will convince most video game companies to simply abandon their NFT projects and stick with regular DLCs and in-game content instead.

So for now, investors should consider NFTs to be experimental side projects — and not meaningful sources of revenue — for most gaming companies.

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

The post What do NFTs mean for the gaming industry? appeared first on The Motley Fool Australia.

More reading

• Looking to spend your crypto? Here are 5 things you can buy in 2022
• What to expect for the Bitcoin price heading into June
• Can Bitcoin play a role in a diversified ASX share portfolio?
• Crypto venture firm’s lessons after $10 million haircut on LUNA losses
• Own crypto or NFTs? Here’s why the ATO could have you in their sights come tax time

Leo Sun has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and recommends Bitcoin. The Motley Fool Australia owns and has recommended Bitcoin. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. recommends Ubisoft Entertainment. The Motley Fool Australia has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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

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The Flight Centre Travel Group Ltd (ASX: FLT) share price has continued to hit the brakes in May.

While the travel market is in recovery mode, the company’s shares have taken a 12.5% dive since the beginning of the month.

At the time of writing, Flight Centre shares are down 1.49% to $19.81 for the day.

Flight Centre remains in top spot for open ASX short positions

The negative investor sentiment on the Flight Centre share price can be attributed to the slow recovery of the travel market.

This has ultimately attracted a large number of short sellers to the company’s registry.

Short selling is a common trading strategy that aims to profit from the fall in the price of a security. The goal is for an investor to borrow shares and sell them, then buy the shares back at a lower price for a profit.

Last week, the Australian Securities & Investments Commission (ASIC) released its short position report revealing the level of short interest within companies.

It found Flight Centre remained in the top spot on the ASX with 17.07% of its shares being heavily shorted by investors.

In comparison, the government body recorded a short interest of 10.19% in Flight Centre shares last year on 19 May.

Given the large increase in short positions being taken up, it appears investors believe the company’s performance could be underwhelming.

Flight Centre is forecasting a full-year underlying EBITDA loss of around $195 million to $225 million for FY22.

About the Flight Centre share price

Despite treading lower in recent times, the Flight Centre share price is up by 30% over the past 12 months.

It’s worth noting that Flight Centre shares hit a multi-year high of $25.28 in October 2021 before crashing back down. This is a stark increase to when the company’s shares were trading at the $15 mark in January 2022.

Based on valuation grounds, Flight Centre presides a market capitalisation of about $3.95 billion.

The post Why is the Flight Centre share price still attracting so much short interest in May? appeared first on The Motley Fool Australia.

More reading

• The Flight Centre share price has taken off 5% in a week. Is travel really ‘back, baby’?
• These are the 10 most shorted ASX shares
• Why is the Flight Centre share price among the ASX 200’s top performers today?
• These are the 10 most shorted ASX shares
• What’s boosting the Flight Centre share price on Monday?

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 Flight Centre Travel Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Bendigo and Adelaide Bank Ltd (ASX: BEN) share price is edging higher on Wednesday, currently fetching $10.64 apiece. That’s up 0.85% on the day so far.

As the market continues digesting a wave of macroeconomic pressures, bank stocks, such as Bendigo Bank and the likes, have been net-gainers in 2022.

Momentum behind the sector has helped the bank secure a 17% gain this year to date, reversing a difficult period of returns in 2021.

More brokers are constructive on Bendigo…

Analysts at Bloomberg Intelligence reckon that Bendigo is well positioned to increase profitability amid its recent portfolio management activities.

Bloomberg’s Matt Ingram and Jack Baxter wrote:

Bendigo and Adelaide’s ROE [return on equity] may remain higher than its 7% five-year average despite its ‘last in town’ positioning, due to efficiency gains and lower-than-peer funding costs from its 500-plus branch network.

Returns may stay below larger peers as a result of sector-low loans and deposits per branch, which curb branch revenues.

The 500-plus branch network could additionally help Bendigo’s return on assets (ROA) scoring, they said, and also “facilitates low-cost deposit gathering, bringing down funding costs to 0.4% vs. peers’ 0.6% average”.

Analysts at Macquarie are also constructive on the banking sector and rate Bendigo a buy on an $11 per share valuation.

Near-term catalysts might be the kind of tailwind that players like Bendigo need, they said, noting that the outlook on funding costs also seems brighter.

“While we continue to see risks to FY 2023 expectations with deposit costs starting to rise, banks appear in the sweet spot in the short term,” they wrote.

Yet sentiment is still mixed

Whilst around 36% of analysts covering the bank have it rated as buy, there’s still around 64% of coverage that rates it a hold, according to Bloomberg data.

The number of buy calls has crept upwards in the past two years though and the consensus of analyst estimates has the bank rated at $10.44 per share.

Drawing inferences from that data suggests that sentiment is still mixed on where the Bendigo and Adelaide Bank share price will head next.

In the last 12 months, the Bendigo and Adelaide bank share price has climbed 3.6%.

The post Can the Bendigo Bank share price surge in 2022 despite its ‘last in town position’? appeared first on The Motley Fool Australia.

More reading

• What is the current dividend yield on Bendigo Bank shares?
• Why does the Bendigo Bank share price often fare worse than the ASX big four in downturns?
• If you’d bought $10,000 of Bendigo Bank shares 10 years ago, guess how much you’d have now
• How big will the Bendigo Bank dividend be in 2022?

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 positions in and has recommended Bendigo and Adelaide Bank Limited. 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 Scott Phillips.

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It’s another positive day for most ASX investors today, with the All Ordinaries Index (ASX: XAO) up a healthy 0.6% in afternoon trading.

While that’s a welcome boost, it pales in comparison to the smashing gains posted by three ASX mining shares today, all of which are up 20% or more.

So which ASX mining shares are rocketing?

We’re glad you asked!

This ASX mining share is up 20% today

The Minbos Resources Ltd (ASX: MNB) share price is up 19.5% at the time of writing to 6 cents per share, having earlier posted intraday gains of more than 23%.

Investors are snapping up shares in the mineral explorer after the company reported it will complete the definitive feasibility studies at its Cabinda Phosphate Project and its Capanda Green Hydrogen-Ammonia Project, both located in Angola.

The ASX mining share will use the $2.5 million it just received from ALS for its remaining interests in the Ambato Rare Earths Project, located in Madagascar.

Minbos CEO, Lindsay Reed highlighted the potential value of the hydrogen project, saying:

Our positioning with the Green Hydrogen-Ammonia Project puts the Company ahead of most, if not all, other ASX listed peers giving Minbos a significant time, infrastructure spend and power pricing advantage. These advantages cannot be underestimated.

The Minbos share price is now up 158% year-to-date.

Today’s second big gainer

The second ASX mining share shooting the lights out today is Greenstone Resources Limited (ASX: GSR), up 24.4%. to 5.6 cents per share.

The gold explorer appears to be getting a delayed boost from yesterday’s release announcing positive drill results from its 100% owned Burbanks Gold Project, located in Western Australia.

Greenstone reported that the ongoing drill campaign “continues to return multiple high-grade intercepts”.

Commenting on the strong gold results, Greenstone CEO, Chris Hansen said:

We are highly encouraged by these most recent results from Burbanks North, having returned multiple bonanza grade intercepts in quick succession which are in line with the historical underground production grades from the Burbanks Mining Centre.

Which brings us to…

Today’s top performing ASX mining share

Leading the charge higher is Conico Ltd (ASX: CNJ). Shares in the mining minnow are up an eye-popping 66.7% today to 4 cents per share.

The ASX mining share is primarily focused on cobalt, nickel, and manganese, but its share price appears to be moving for reasons unrelated to any new discoveries.

Instead, Conico reported this morning on the shortfall in subscriptions for its fully underwritten, pro-rata non-renounceable rights offer made to shareholders. That offer was fully written by Peloton Capital and closed on 18 May.

Conico stated:

Accordingly, upon completion of issuing of the new shares (and one for two free attaching options to acquire Shares at 2.6 cents each on or before 31 December 2026), the total amount raised (after the shortfall was placed) is $2,492,202

Despite today’s big lift, the ASX mining share remains down 2.5% year-to-date.

The post 3 ASX mining shares surging by more than 20% today appeared first on The Motley Fool Australia.

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