Month: May 2022

The Integrated Research Limited (ASX: IRI) share price has hitched a ride to the downside on Monday.

At the time of writing, shares in the performance management software solutions provider are 15.4% in the red at 57.5 cents apiece. In stark contrast, the S&P/ASX 200 Index (ASX: XJO) is 0.23% better off than where it finished Friday afternoon.

Today’s fall is yet another blow to the Integrated Research share price, taking it down 74% in the past year. The selling pressure has mounted following a disappointing downgrade in guidance, as shared in the company’s FY22 trading update.

Setting lower expectations

Concerned Integrated Research shareholders are selling out today as the company pulls back the curtain on performance. It appears the FY22 full year is shaping up to be a letdown compared to last year based on the latest trading update.

While specific guidance couldn’t be given that a large portion of sales are concentrated to the end of the financial year, Integrated Research did guide compared to the previous year.

According to the release, performance in the United States operations has not experienced the uplift that was anticipated. However, strong sales are being seen across the Asia Pacific region and the United Kingdom.

Though, Integrated Research is now expecting subdued performance compared to the prior year. Notably, new sales have underperformed expectations as customer purchasing patterns are delayed. For reference, new sales represented 37% of total contract value (TCV) year-to-date.

In light of this, pro-forma revenue is forecast to be down between 3% to 7% in FY22. Additionally, the company is expecting profitability to continue, but net profit after tax (NPAT) will likely be below that of last year.

From here, the next key update is anticipated to hit the ASX in mid-July. This will follow the end of the FY22 financial year for Integrated Research.

How does the Integrated Research share price compare?

Currently, Integrated Research is trading on a price-to-earnings (P/E) ratio of 12.2 times. This compares to an average 29.1 times ratio for the Australian software industry.

While it might appear ‘cheap’ on a fundamental basis, it is important to consider that the company’s earnings have been declining during the last 18 months. For example, at the end of June 2020, Integrated Research posted earnings of $24.05 million. Whereas, at the end of December 2021, this figure was down to $9.59 million.

The Integrated Research share price is down 55% since the beginning of the year.

The post Why the Integrated Research share price is cascading 15% today appeared first on The Motley Fool Australia.

More reading

• Why Imugene, Integrated Research, Monash IVF, and Step One shares are sinking

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 positions in and has recommended Integrated Research Limited. 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.

from The Motley Fool Australia https://ift.tt/vAlOiPZ

The S&P/ASX 200 Index (ASX: XJO) is having a reasonably positive start to the week. In afternoon trade, the benchmark index is up 0.35% to 7,100 points.

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

Imugene Limited (ASX: IMU)

The Imugene share price has continued its slide and is down a further 6% to 16.5 cents. This means that the biotech company’s shares are now down over 60% since the start of the year. Valuation concerns have been weighing on its shares. There may also be fears that this trend could continue given its market capitalisation of almost $1 billion and no revenue.

Integrated Research Limited (ASX: IRI)

The Integrated Research share price has sunk 15% to 57.5 cents. This morning the global provider of user experience and performance management solutions revealed that trading conditions have been tough. As a result, it no longer expects to deliver profit growth in FY 2022.

Monash IVF Group Ltd (ASX: MVF)

The Monash IVF share price is down a further 5% to $1.01. This fertility treatment company’s shares have now fallen 14% since the release of a disappointing trading update last week. That update revealed that the current environment has negatively impacted stimulated cycle activity and profitability between January to April as patients defer treatment.

Step One Clothing Ltd (ASX: STP)

The Step One share price has crashed 55% to 21.5 cents. Investors have been selling this underwear retailer’s shares after it revealed that its expansion into the UK, US, and women’s markets hasn’t gone to plan. As a result, it expects to fall well short of its earnings guidance in FY 2022. This appears to have led to investors doubting that Step One has what it takes to successfully expand outside Australia. The company’s shares are now down 86% from its November IPO price of $1.53.

The post Why Imugene, Integrated Research, Monash IVF, and Step One shares are sinking appeared first on The Motley Fool Australia.

More reading

• ASX 200 midday update: Brambles rockets, Goodman upgrades guidance
• Why is the Step One share price crashing 54% to a new low?
• Why A2 Milk, Gold Road, GrainCorp, and Monash IVF shares are dropping
• Why Block, IDP Education, Monash IVF, and Xero shares are dropping
• 2 ASX growth shares that experts love right now

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 positions in and has recommended Integrated Research Limited. 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.

from The Motley Fool Australia https://ift.tt/UJE2oXS

The Woodside Petroleum Limited (ASX: WPL) share price is on a roller coaster ride today.

The energy giant’s share price leapt 1.48% in earlier trade before pulling back. Woodside shares are currently trading at $30.51, a 0.36% gain.

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

Oil prices rocky

Woodside shares have been up and down but they are not alone in this trend. The Santos Ltd (ASX: STO) share price also climbed 1.25% in morning trade before retreating. Santos shares are currently down 0.31%, trading at $8.075. For perspective, the S&P/ASX 200 Energy Index (ASX: XEJ) is up 0.39% at the time of writing but gained 1.27% in earlier trade.

Oil prices leapt by 4% in global markets on Friday, however, they have since plunged in Asian markets. Market Risk Advisory partner Naohiro Niimura told Reuters investors “scooped up profit after a sharp gain last Friday”. He added:

Still, with a planned ban by the EU on Russian oil and slow increase in OPEC output, oil prices are expected to stay close to the current levels near $110 a barrel until they head lower late this year due to weakening global demand

Brent Crude oil is now down 1.82% to US$109.52 a barrel, while WTI Crude Oil is sliding 1.68% at US $108.63 a barrel, Bloomberg data shows.

Twiggy digs in

In other news today, Fortescue Metals Group Limited (ASX: FMG) chair Andrew ‘Twiggy’ Forrest has levelled criticism at the oil industry’s green credentials. Woodside, along with Santos, is a major ASX oil producer. Speaking ahead of an Australian Petroleum Production and Exploration conference in Brisbane, Dr Forrest told The Australian:

I’m asking for the fossil fuel sector to say we’re supplying dirty fuel while we have to. And we’re moving as quickly as we can to change to zero pollution fuel. And don’t try and greenwash your current pollution out of existence.

What I’m asking every fossil fuel company to do is give consumers like us green choices as soon as you possibly can. And don’t masquerade, don’t put lipstick on a pig, in the meantime.

The post Woodside share price lifts despite Twiggy’s latest ‘greenwashing’ accusations appeared first on The Motley Fool Australia.

More reading

• Is the Fortescue share price cheap after dropping 10% in a month?
• 5 things to watch on the ASX 200 on Monday
• Why are Fortescue and green hydrogen making news again on Friday?
• Is the Fortescue share price a buy for its 16% dividend yield?
• 5 things to watch on the ASX 200 on Friday

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.

from The Motley Fool Australia https://ift.tt/r4KIv7Q

The S&P/ASX 200 Index (ASX: XJO) is continuing to claw back ground as we open for another trading week so far this Monday. After the heavy selloff of most of last week, the ASX 200 is continuing to build on the momentum of last Friday’s session and is currently up another 0.3% to just under 7,100 points at the time of writing.

But let’s dive a little deeper into these share market moves and take a look at the ASX 200 shares currently at the top of the market’s trading volume charts, according to investing.com.

The 3 most traded ASX 200 shares by volume this Monday

Qube Holdings Ltd (ASX: QUB)

Infrastructure and logistics company Qube is our first ASX 200 share to check out today. So far this Monday, a solid 14.77 million Qube shares have been bounced around the ASX boards. This comes after a major announcement from the company this morning.

According to an ASX release put out before market open, Qube has just completed its $400 million off-market share buyback program. The program was so popular that the company had to scale it back. Perhaps in response to this announcement, Qube shares are rocketing almost 6% today and are now going for $2.94 each. It’s probably this combination that we can thank for this elevated trading volume we see.

Pilbara Minerals Ltd (ASX: PLS)

ASX 200 lithium stock Pilbara is our next cab off the rank today. As it currently stands, a hefty 17.01 million Pilbara shares have traded hands on the markets this Monday. There’s no news out of Pilbara so far today, or indeed over May thus far. In saying that, Pilbarra shares are continuing to surge higher. They are up another 4.86% so far today to $2.59 at the present time. It’s this sharp appreciation that has probably sparked these higher levels of trading.

Paladin Energy Ltd (ASX: PDN)

Paladin Energy is our final and most traded share of the day right now. This Monday has seen a sizeable 21.27 million of this ASX 200 uranium company’s shares bought and sold thus far. Again, we have no news out of Paladin. But we have had some significant volatility today. Paladin shares initially rocketed after open, rising as high as 70 cents. However, sentiment seems to have cooled somewhat, and the company is now back in the red, going for 66 cents right now, down 0.75% for the day. It’s this whipsawing that has probably gotten Paladin to where it is on this list.

The post Here are the 3 most heavily traded ASX 200 shares on Monday appeared first on The Motley Fool Australia.

More reading

• Why Brambles, Core Lithium, Infomedia, and Qube shares are charging higher
• Why are ASX lithium shares off to such a flying start this week?
• Why is the ASX 200 giving back the morning’s gains on Monday?
• ASX 200 midday update: Brambles rockets, Goodman upgrades guidance
• 5 things to watch on the ASX 200 on Monday

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 Scott Phillips.

from The Motley Fool Australia https://ift.tt/qAVJOuw

The Droneshield Ltd (ASX: DRO) share price is rocketing higher today.

Shares in the ASX tech company, which provides drone protection devices, are currently up 9.8% trading at 22.5 cents, having earlier posted gains of more than 14%.

Ukrainian demand buoys Droneshield share price

The Droneshield share price is leaping higher today amid news of strong demand for the company’s drone defence systems from Ukraine.

The company already supplies its anti-drone technologies to militaries, police, and private enterprises across the world.

But following Russia’s invasion of Ukraine, Droneshield’s CEO Oleg Vornik said (quoted by The Australian Financial Review), “We literally received a few dozen inquiries from various Ukrainian government agencies over the last month that we need Droneshield equipment.”

The company has already sent a shipment of hand-held drone detection devices and its Drone Gun to the embattled nation. The Drone Gun disables enemy drones by jamming their electronic frequencies.

A European nation, as yet anonymous, paid for the initial shipment of anti-drone devices that were delivered into Ukraine.

Vornik hopes the Aussie government will step up to help fund the next shipment.

“We are hopeful of getting the Australian government or maybe somebody else to get our gear funded so we can get it over there,” he said.

Take down the drones

Vornik explained that the Russian military does not yet control the skies above Ukraine. Instead, it is depending on drones with plenty of non-Russian parts for its battlefield planning.

“They would essentially scout in an area and see Ukrainian positions and then send artillery shells in that direction. Our equipment would take out those scouting drones,” he said.

Vornik continued (quoted by the AFR):

The fascinating thing with the Russian drones which may sound surprising is they use a lot of non-Russian parts. They use a lot of American parts, European parts, Chinese parts.

I was worried when we did the first sale because I wasn’t sure how effective our gear was going to be because we’ve never tested it against Russian technology before. But it seems because they are using a lot of foreign parts, our equipment is effective against it.

The feedback from the war front has been positive in terms of the impact against Russian drones.

Droneshield share price snapshot

The Droneshield share price has been a strong performer this year, up 25% since the opening bell on 4 January.

In comparison, the All Ordinaries Index (ASX: XAO) is down 8% year-to-date.

The post Droneshield share price leaps 10% amid strong Ukrainian demand appeared first on The Motley Fool Australia.

More reading

• DroneShield share price turbulent as revenue soars 89%

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended DroneShield Ltd. The Motley Fool Australia has recommended DroneShield Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/AQnM0dx

Aussie markets have curled down on Monday after an initial spike. The All Ordinaries Index (ASX: XAO) is now trading just 20 basis points higher at 7,322.

Despite the mixed reaction from China’s latest economic data, these three shares have cruised past their former highs to reach new multi-year peaks. Let’s take a look.

Yancoal Australia Ltd (ASX: YAL)

Shares in Yancoal are trading in the green today and now rest at $5.57. Early in the session, the Yancoal share price nudged past $5.82, its highest mark since March 2018.

Coal shares have had a stellar run in 2022 thanks to the price of the black rock surging to multi-year highs.

In the last 12 months, the price of coal has climbed 297% and now trades at US$393 per tonne after bouncing from US$258 per tonne in March.

“Along with increasing demand for power generation with a resumption in economic activity after the coronavirus-induced slump,” Trading Economics says, “soaring natural gas prices in Europe and Asia in late 2021 boosted coal consumption.”

As such, coal players like Yancoal have rallied equally as hard and the company itself has climbed 114% this year to date.

Viva Energy Group Ltd (ASX: VEA)

Shares of Viva Energy are also strong today and have cruised past their highest level since August of 2019 at $2.84.

Investors recently began bidding up Viva Energy shares as the company saw strengths in its “refining and financial performance for the four months ended 30 April,” The Motley Fool reports.

It recorded a 65% year-on-year jump in its earnings before interest, tax, depreciation and amortisation (EBITDA) to $308 million.

It put the massive jump in pre-tax earnings down to the spread between its cost of crude oil and the market prices for refined products.

In the last 12 months, the Viva Energy share price has gained 42% and is up 20% this year to date.

Amcor (ASX: AMC)

Shares of global packaging company Amcor have glided upward in Monday’s session and now trade less than 1% higher at $18.44.

Despite no market-sensitive updates from the company, the Amcor share price has drawn away from the S&P/ASX 200 Materials Index (ASX: XMJ), which is down 79 basis points on Monday.

Nevertheless, momentum has been building for the Amcor share price these past few weeks, with the stock already taking out its previous 52-week high in last week’s trade.

In fact, since we rolled over into May it has climbed 10%, whilst the Materials index has extended heavy losses incurred the month before.

As such, during the past 12 months, the Amcor share price has neared a 16% gain and held onto an 11.6% gain this year to date.

The post 3 ASX All Ordinaries shares hitting multi-year highs on Monday appeared first on The Motley Fool Australia.

More reading

• 2 ASX 200 shares clocking multi-year highs on Thursday
• Why are these ASX coal shares having a top run today?
• Guess which 2 ASX All Ordinaries shares smashed 52-week highs amid today’s carnage
• Macquarie picks ASX 200 shares to buy in this volatile environment
• These were the best performers on the ASX 200 last week

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

from The Motley Fool Australia https://ift.tt/p1BHUev

The Zip Co Ltd (ASX: ZIP) share price followed the broader market up this morning before plummeting upon its fumble this afternoon.

The buy now, pay later giant’s stock surged 5.55% earlier today, reaching an intraday high of $1.05. Sadly, it soon tumbled to its intraday low of 95 cents – a 4% slump.

At the time of writing, the Zip share price has partially recovered to trade at 96 cents, 2.83% lower than its previous close.

For context, the S&P/ASX 200 Index (ASX: XJO) is currently up 0.26% despite having gained as much as 1.1% earlier in the day.

Let’s take a closer look at what’s going on with the BNPL stock and the broader market on Monday.

What’s going on with the Zip share price?

The Zip share price rocked then rolled on Monday amid a broader market spin.

The ASX 200 launched upwards today before disappointing data from China stunted its rise.

COVID-19 lockdowns hit the nation in the pocket over April, as reflected in China’s National Bureau of Statistics data.

China’s unemployment rate rose to 6.1% while the cost of necessities rose rapidly last month. The nation’s total retail sales also fell 11.1%.

Turning to the tech sector, the S&P/ASX 200 Information Technology Index (ASX: XIJ) is currently recording a 1.7% gain. Though, earlier this morning it was trading up to 4.25% higher.

While Zip isn’t technically a tech share, it can arguably be classed as one and generally performs in line with the tech sector.

Today’s best performing ASX 200 tech shares are Life360 Inc (ASX: 360), Block Inc (ASX: SQ2), and Xero Limited (ASX: XRO). They are currently up 4.84%, 3.73%, and 3.52% respectively.

Meanwhile, the sector’s worst performers are Tyro Payments Ltd (ASX: TYR), Codan Limited (ASX: CDA), and WiseTech Global Ltd (ASX: WTC), having slipped 4%, 2.47%, and 1% respectively.  

The Zip share price has tumbled 78% so far this year. It is also 86% lower than it was this time last year.

The post <strong>Why did the Zip share price just pop then drop?</strong> appeared first on The Motley Fool Australia.

More reading

• Blast off! Why is the Zip share price zooming on Friday?
• Zip share price tumbles 5% to another multi-year low
• ASX 200 tech shares are staging a remarkable recovery today
• It’s happened: Zip share price tumbles below $1 for first time since 2018
• These are the 10 most shorted ASX shares

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., Life360, Inc., Tyro Payments, WiseTech Global, and Xero. The Motley Fool Australia has positions in and has recommended Block, Inc., WiseTech Global, and Xero. The Motley Fool Australia has recommended Tyro Payments. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/AWGiYLy

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to start the week with a small gain. At the time of writing, the benchmark index is up 0.3% to 7,097.2 points.

Four ASX shares that are climbing more than most today are listed below. Here’s why they are charging higher:

Brambles Limited (ASX: BXB)

The Brambles share price is up 11% to $11.59. This follows news that the logistics solutions company is having takeover talks with private equity giant CVC Partners. However, the company has stressed that it hasn’t received a proposal yet. Brambles also warned that there is no certainty that the discussions will lead to a binding proposal being received.

Core Lithium Ltd (ASX: CXO)

The Core Lithium share price is up 3% to $1.18. Investors have been buying this lithium developer’s shares following a strong night for lithium shares on Wall Street on Friday. For example, lithium giants Albemarle, Sociedad Quimica y Minera de Chile (SQM), and Livent Corp rose 7%, 9.5%, and 12.5%, respectively, during Friday’s session.

Infomedia Limited (ASX: IFM)

The Infomedia share price has jumped 28% to $1.64. This has been driven by the news that the automotive industry software company has received a takeover offer. According to the release, the TA Consortium has offered $1.70 cash per share. This represents a 32.8% premium to the Infomedia share price prior to its trading halt.

Qube Holdings Ltd (ASX: QUB)

The Qube share price is up 6% to $2.95. This morning the logistics company announced the completion of its off-market share buyback. Qube has bought back $400 million of shares at $2.59 per share. This represents 154 million shares, which equates to 8% of its shares outstanding. The buyback price comprises a capital component of $1.61 per share and a dividend component of 98 cents per share.

The post Why Brambles, Core Lithium, Infomedia, and Qube shares are charging higher appeared first on The Motley Fool Australia.

More reading

• Why are ASX lithium shares off to such a flying start this week?
• ASX 200 midday update: Brambles rockets, Goodman upgrades guidance
• Here’s why the Brambles share price is rocketing 11% on Monday
• Why is the Core Lithium share price charging 7% higher?
• Infomedia share price rockets 30% following takeover approach

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

from The Motley Fool Australia https://ift.tt/oCEw7HB

The Ramsay Health Care Ltd (ASX: RHC) share price is climbing higher into the green today.

This comes as the private hospital operator provider made an announcement to investors on the ASX.

At the time of writing, Ramsay shares are swapping hands at $78.31, up 1.49%.

In comparison, the S&P/ASX 200 Index (ASX: XJO) is giving back all its gains achieved during early morning trade. The benchmark ASX 200 is currently trading at 7,086.9 points, up just 0.17%.

What did Ramsay announce?

In its statement, Ramsay confirmed the details of funding guarantee arrangements for the period between 1 January and 30 June 2022.

Announced by the French Government on 14 May, the company said the structure of the decree was similar to prior periods. However, mental health has been excluded in the latest scheme.

While the details regarding the arrangement have not been disclosed, the previous corresponding period’s decree provided a guarantee of revenue equal to the average monthly revenue earned from the government.

Pulled from the 2020 calendar year, the revenue was indexed and multiplied by the six months covered by the decree.

About the Ramsay share price

After trading fairly flat for most of 2022, the Ramsay share price suddenly rocketed to a 52-week high of $84.58 in April.

The 25% gain came after the company received a $14.8 billion takeover offer from a consortium of investors led by KKR.

The Ramsay share price is up around 22% over the past 12 months and is trading 9% higher year to date.

Based on today’s price, Ramsay commands a market capitalisation of roughly $17.93 billion and has 228.88 million shares on hand.

The post Why is the Ramsay share price smashing the ASX 200 on Monday? appeared first on The Motley Fool Australia.

More reading

• Ramsay Health Care share price on watch amid Bupa contract termination
• These were the best performing ASX 200 shares in April
• ASX 200 midday update: ResMed disappoints, PointsBet rockets higher
• Ramsay Health share price bleeds as profits plunge
• These were the best performing ASX 200 shares last week

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 Ramsay Health Care Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/p3Rs2Nw

The Mineral Resources Limited (ASX: MIN) share price has suffered in the past month, but could it recover?

The mining services provider’s shares have fallen more than 13% from $63.20 at market open on 19 April to their current share price of $54.74

Let’s take a look at the outlook for Mineral Resources.

Could the Mineral Resources share price go higher?

Mineral Resources may have had a tough month, but multiple brokers are optimistic about the company’s share price.

Goldman Sachs is positive on the outlook for the company that also has interests in lithium, iron ore, and manganese. Goldman recommends Mineral Resources as a buy and has a $73.80 price target on the company’s shares. This is nearly 35% more than the share price at the time of writing.

Analysts predict Mineral Resources [earnings before interest, tax, depreciation and amortisation] EBITDA could double to A$2 billion in FY 2023.

Macquarie has placed an $85 price target on Mineral Resources, the Australian Financial Review reported. This is a 55% upside on the current share price. Macquarie analysts, however, cautioned iron ore and lithium prices could weigh on future earnings. They said:

Movements in spot iron-ore and spodumene prices present the most material risk to our earnings forecasts for Mineral Resources.

Mineral Resources recently achieved milestone lithium production at the Wodinga project in Western Australia. The company is also exploring lithium at Mt Marion. Commenting on the news, CEO Paul Brown said: “Achieving first spodumene concentrate production at Wodgina is a great milestone.”

My Foolish colleague Bernd recently reported Tribeca Global Natural Resources CEO Ben Cleary prefers ASX lithium shares at lithium production stage. He noted Mineral Resources in one of the top two lithium share holdings held by the Tribeca Global Natural Resources Fund.

Share price snapshot

The Mineral Resources share price has surged 23% in the past year, but has fallen around 2.4% year to date.

For perspective, the S&P/ASX 200 Materials Index (ASX: XMJ) has fallen 4% in a year.

Mineral Resources has a market capitalisation of about $10.3 billion.

The post The Mineral Resources share price has dumped 13% in a month. Time to dig in? appeared first on The Motley Fool Australia.

More reading

• Why are ASX lithium shares off to such a flying start this week?
• What will the lithium price be in 2025?
• Top brokers explain why not all ASX lithium shares are created equal
• Brokers name 3 ASX lithium stocks to buy now
• What’s dragging the Mineral Resources share price lower 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.

from The Motley Fool Australia https://ift.tt/I1vVEUB