Stock Pick

Month: October 2022

  • Why Lake, Pilbara Minerals, PointsBet, and PolyNovo shares are charging higher

    A beautiful woman holds up one finger with one hand and has her hand on her waist with the other as she smiles widely as though she is very pleased about something.

    A beautiful woman holds up one finger with one hand and has her hand on her waist with the other as she smiles widely as though she is very pleased about something.

    In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) looks set to end its winning streak. At the time of writing, the benchmark index is down 0.15% to 6,806.2 points.

    Four ASX shares that have not let that hold them back today are listed below. Here’s why they are charging higher:

    Lake Resources N.L. (ASX: LKE)

    The Lake Resources share price is up almost 5% to $1.05. Investors have been buying this lithium developer’s shares after it announced a strategic investment and offtake agreement with WMC Energy. The offtake agreement is for up to 25,000 mtpa of battery grade lithium or 50% of the Kachi Project’s production.

    Pilbara Minerals Ltd (ASX: PLS)

    The Pilbara Minerals share price is up 8% to $5.52. This is despite the company announcing the departure of its chief financial officer, Brian Lynn, this morning. Lynn has been with the company for over six years and has chosen to step down in order to spend more time with his family. Pilbara Minerals has commenced a global search for a replacement.

    PointsBet Holdings Ltd (ASX: PBH)

    The PointsBet share price is up 6% to $2.16. This morning this sports betting company announced an agreement with 1/ST Technology to deliver a fully integrated, white-label advance-deposit wagering horse racing betting experience to PointsBet customers across the United States. Management called this “a pivotal moment” for the company’s US expansion.

    Polynovo Ltd (ASX: PNV)

    The PolyNovo share price is up 14% to $1.67. Investors have been buying this medical device company’s shares after it released a trading update. That update revealed that PolyNovo had a record first quarter, with sales growth of 73.3% to $12.5 million. This was driven by strong sales growth in the US and favourable currency movements.

    The post Why Lake, Pilbara Minerals, PointsBet, and PolyNovo shares are charging higher appeared first on The Motley Fool Australia.

    .

    More reading

    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 POLYNOVO FPO and Pointsbet Holdings Ltd. The Motley Fool Australia has recommended Pointsbet Holdings 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/6DhZRI4

  • Down 9% in a month, could the Woolworths share price turn around in October?

    A female Woolworths customer leans on her shopping trolley as she rests her chin in her hand thinking about what to buy for dinner while also wondering why the Woolworths share price isn't doing as well as Coles recentlyA female Woolworths customer leans on her shopping trolley as she rests her chin in her hand thinking about what to buy for dinner while also wondering why the Woolworths share price isn't doing as well as Coles recently

    The Woolworths Group Ltd (ASX: WOW) share price struggled in September, but could there be better days ahead?

    Woolworths shares have fallen 9.49% since market close on 6 September and are currently trading at $33.35 apiece. For perspective, the S&P/ASX 200 Index (ASX: XJO) has lost 0.18% over the same time frame.

    Let’s check the outlook for the Woolworths share price.

    Could the Woolworths share price rise?

    Woolworths is not the only ASX consumer share to fall in the past month. The Coles Group Ltd (ASX: COL) share price has descended nearly 7% since market close on 6 September, while Wesfarmers Ltd (ASX: WES) has lost nearly 2%.

    Amid higher interest rates, average daily spending on groceries fell by 19% in September, The Age reported. However, Jarden believes Woolworths can weather the storm. In comments cited by the publication, Jarden said:

    The value shopper is returning and Aldi is forecast to be the second-fastest growing retailer over the next 12 months, with Woolworths number one.

    We remain cautious on the outlook for the consumer and believe staples and fast-moving consumer goods should perform well against this backdrop

    In the 2022 financial year, Woolworths’ net profit after tax (NPAT) increased by 0.7% to $1,514 million while group sales lifted 9.2%. Woolworths paid a final dividend of 53 cents per share.

    Meanwhile, analysts at Goldman Sachs are positive on the outlook for the Woolworths share price. Goldman has placed a $44.10 price target on the company’s shares. This represents a 32% upside on the current share price. The broker thinks Woolworths shares are trading at an attractive level after their recent falls.

    However, Alto Capital investment manager Tony Locantro has recently placed a sell rating on Woolworths. He said in comments published on The Bull:

    While cost pressures have eased, we’re concerned about the impact from broad cost of living increases on its customers moving forward.

    Share price snapshot

    The Woolworths share price has fallen nearly 15% in the past year, while it has lost more than 12% in 2022 so far.

    For perspective, the ASX 200 has shed more than 6% in the past year.

    Woolworths has a market capitalisation of nearly $40.5 billion based on the current share price.

    The post Down 9% in a month, could the Woolworths share price turn around in October? appeared first on The Motley Fool Australia.

    .

    More reading

    Motley Fool contributor Monica O’Shea 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 COLESGROUP DEF SET and Wesfarmers 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/78zyJ9R

  • Why did the Novonix share price crash 27% in September?

    Sad investor watching the financial stock market crash on his laptop computer.Sad investor watching the financial stock market crash on his laptop computer.

    September was a dire month for both the Novonix Ltd (ASX: NVX) share price and the broader S&P/ASX 200 Index (ASX: XJO).

    Interestingly, however, there was no news from the battery technology and materials giant last month.

    But that didn’t stop the market from selling it off. After closing August at $2.42, the Novonix share price plummeted to end September at $1.76 – marking a 27.27% drop.

    Meanwhile, the ASX 200 dumped 7.34% and the S&P/ASX 200 Information Technology Index (ASX: XJI) slumped 10.67%.

    So, what might have gone wrong for the ASX 200 tech stock last month? Let’s take a look.

    What weighed on the Novonix share price in September?

    While there was no news from Novonix in September, there were plenty of factors that could have dragged on its share price.

    Notably, interest rate hikes. The Reserve Bank of Australia and the United States Federal Reserve both hiked rates in a bid to tackle inflation in September, bolstering concerns that a recession could be nigh.

    Such concerns, of course, likely weighed on the broader market too, but rising rates spell particularly bad news for tech stocks.

    That’s because many that are also growth shares and plenty, like Novonix, are yet to turn a profit. Higher rates make borrowing cash more expensive while inflation can diminish the value of future earnings.

    On that note, within the company’s annual report – posted late in August –  its auditors flagged that it’s now “dependant” on capital raising activities to finance its growth, my Fool colleague Zach reports.

    The auditor also noted “material uncertainty” surrounds the company’s future. That likely sounds alarms for risk-averse investors, particularly in economic times such as those we find ourselves.

    With all that in mind, it’s probably not surprising that the Novonix share price trailed the broader market last month. Though, the stock is well versed in trading in the red.

    The Novonix share price is currently 82% lower than it was at the start of 2022. It has also fallen 62% since this time last year.

    For comparison, the ASX 200 has fallen 10% year to date and 6% over the last 12 months.

    The post Why did the Novonix share price crash 27% in September? appeared first on The Motley Fool Australia.

    .

    More reading

    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 Scott Phillips.

    from The Motley Fool Australia https://ift.tt/BAWcR1u

  • Goldman Sachs names the ASX tech shares to buy now

    A woman sits in front of a computer and does some calculations.

    A woman sits in front of a computer and does some calculations.

    Although the tech sector has rebounded this month, it is still down materially year to date.

    This could make it worth considering an investment in the sector if you believe the rebound will continue.

    But which ASX tech shares should you buy? Two that Goldman Sachs is tipping as buys are listed below. Here’s why it rates them highly:

    Life360 Inc (ASX: 360)

    The first ASX tech share that has been tipped as a buy by Goldman Sachs is Life360.

    It is a technology company that operates in the digital consumer subscription services market. The key product in its portfolio is the Life360 app, which has 40 million active users. It offers families features such as communications, driver safety, and location sharing.

    Goldman is very bullish on the company due to its massive market opportunity. Earlier this week, it commented: “We estimate Life360 is exposed to a US$12bn global TAM with a large opportunity to expand its product suite, grow average revenue per paying circle (ARPPC), increase payer conversion, and lift penetration rates outside of the US.”

    The broker currently has a buy rating and $7.50 price target on the company’s shares.

    Readytech Holdings Ltd (ASX: RDY)

    Another ASX tech share that Goldman is bullish on is Readytech.

    It is a technology company that owns a portfolio of enterprise software businesses across several market verticals such as higher education and local government.

    Goldman notes that these businesses operate in market niches that are under-served by both large and small enterprise software competitors. In light of this, its growing levels of recurring revenue, and ultra low churn levels, the broker is expecting Readytech to “continue to grow mid-teens organically while making accretive acquisitions.”

    Goldman Sachs currently has a buy rating and $4.60 price target on its shares.

    The post Goldman Sachs names the ASX tech shares to buy now appeared first on The Motley Fool Australia.

    .

    More reading

    Motley Fool contributor James Mickleboro has positions in Life360, Inc. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Life360, Inc. and Readytech Holdings Ltd. The Motley Fool Australia has recommended Readytech Holdings 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/N3SFWOl

  • Here’s why one crypto CEO thinks bear markets are actually good

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

    A man in a brown bear costume holds the head of it in one hand while raising his other arm in excited victory-style pose.

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

    Bear markets are a part of investing, especially in crypto. While the stock market was on a bull run for the most part until late last year, ever since the Great Recession, there have been a handful of periods when cryptocurrencies have gone through their own bear markets.  

    When this happens, it’s called a crypto winter, and it isn’t uncommon for the cryptocurrency market class to collectively fall by more than 60%. In fact, in the last crypto winter of 2018, the cryptocurrency asset class was decimated and lost more than 80% of its value. 

    Yet despite this extreme drop, the market recovered over the next three years and rose to new highs in 2021. From its 2018 bottom, the cryptocurrency market cap increased by more than 2,500% and notched a collective value of just under $3 billion.

    One crypto CEO is hopeful that another similar situation might unfold. But a few things have to happen first. 

    Been there, done that

    Ryan Selkis founded Messari, a cryptocurrency research and data analysis company, in 2013 when the asset class was in its infancy. The idea to create an easily accessible and intuitive platform for users to explore cryptocurrency charts and trends has helped the CEO become one of the industry’s prominent figures. 

    As a seasoned veteran, Selkis has been through his fair share of crypto winters and bear markets. He believes this one is similar to others since it came after a period of rapid growth — too much growth that happened too quickly. 

    Selkis thinks that a bit of turbulence in the market is healthy and necessary to spur the next bull market. When bear markets arrive, companies and blockchains that struggle to provide true utility inevitably go out of business. To ensure they can remain competitive, blockchains must either strategize anew or further develop their ultimate visions so they don’t become obsolete. 

    As Selkis put it, the arrival of crypto winters helps “wash away all the dead wood” and create room for new competitors. He further elaborated that “bear markets are good for getting the right people in the room” so that they can help lead another wave of growth and innovation.

    If the current crypto winter is similar to those of the past, investors should plan on a few things. 

    Lessons to be learned

    First, not every cryptocurrency around today will make it to the next bull market — should one arrive. When looking at the top 10 cryptocurrencies by market cap from June 2018, arguably the middle of the last crypto winter, only four are still in the top 10 today.

    The natural process of succession eliminates blockchains that fail to evolve and provide necessary utility. Investors should prioritize holding cryptocurrencies such as Bitcoin (CRYPTO: BTC) or Ethereum (CRYPTO: ETH), which are built for the long haul, have a proven track record, and aren’t part of some short-lived trend. 

    In addition, if past bear markets can tell us anything, recoveries are a drawn-out process. It took nearly three years for the cryptocurrency market to peak from its dismal low in December 2018. We aren’t even a year into the current crypto winter, but that shouldn’t be cause for concern. 

    Instead, investors should use this time to build up their positions and remain consistent in their allocations. If the past is any indication of the future, then a bull market should return. Of course, nothing can be accounted for with certainty. Still, the growing trend of blockchains and cryptocurrencies permeating into business models of companies and people’s daily lives is difficult to ignore. 

    While the technology continues to evolve, an investment in specific cryptocurrencies fostering innovation could be of immense value if the market starts to recover. Keep the big picture in focus and stay consistent. Prioritizing your investments in blockchains that provide true utility is the best way to position your portfolio for success should this crypto winter thaw. 

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

    The post Here’s why one crypto CEO thinks bear markets are actually good appeared first on The Motley Fool Australia.

    .

    More reading

    RJ Fulton has positions in Bitcoin and Ethereum. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Bitcoin and Ethereum. The Motley Fool Australia owns and has recommended Bitcoin and Ethereum. The Motley Fool 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.

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

  • Why is the Magellan share price sinking like a stone today?

    furniture asx share price represented by man in armchair floating on the seafurniture asx share price represented by man in armchair floating on the sea

    The Magellan Financial Group Ltd (ASX: MFG) share price is slumping 8.6% to $10.73 — an eight-year low — following an update from the wealth manager.

    According to Magellan’s latest monthly funds under management (FUM) statement, there has been yet another net outflow as nervous investors continue to pull their money out.

    In September, investors withdrew a net $3.6 billion. About $3.2 billion of this was institutional money and $400 million was retail investors’ money. Total FUM is now $50.9 billion.

    Magellan share price smashed after big FUM outflow

    The September outflow is well above that of August when a $1.3 billion outflow reduced the total FUM to $60.2 billion.

    Magellan has an explanation for part of the outflow last month.

    As per the statement:

    Approximately half of the institutional outflows relate to the liquidity requirements of a client impacted by global market volatility in late September.

    The king is back

    Magellan co-founder Hamish Douglass returned to work this week in a new consultancy role.

    Earlier this year, Douglass was serving as the Chair and chief investment officer (essentially, the primary stock picker) at Magellan before taking a medical leave of absence in February.

    The company later announced he would return as a consultant and a new CEO would be appointed.

    That new CEO is David George, formerly the deputy chief investment officer for public markets for Australia’s Future Fund. He commenced as CEO in August.

    Douglass has been credited as the key to Magellan’s long-term success since it began operations in 2006.

    How’s the share buyback going?

    One might say Magellan is doing what every investor should do when the market is fearful. As the great Warren Buffett says, that’s the time to be “greedy”. To wit: Magellan is currently undertaking an on-market share buyback of up to 10 million shares.

    And why wouldn’t they? This time last year the Magellan share price was close to $29. That’s almost three times higher than today’s share price. Two years ago, it was about $55.

    According to today’s buyback update, Magellan has bought back 2,233,203 shares since announcing the program in April.

    Over this period, Magellan has paid a maximum share price of $13.30 and a minimum of $10.93.

    The buyback is scheduled to conclude in April 2023.

    The post Why is the Magellan share price sinking like a stone today? appeared first on The Motley Fool Australia.

    .

    More reading

    Motley Fool contributor Bronwyn Allen has positions in Magellan Financial Group. 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/Z81bVIG

  • If I’d invested $1,000 in BHP shares at the start of 2022, here’s what I’d have now

    A man wearing a shirt, tie and hard hat sits in an office and marks dates in his diary.

    A man wearing a shirt, tie and hard hat sits in an office and marks dates in his diary.In afternoon trade on Thursday, BHP Group Ltd (ASX: BHP) shares are edging higher.

    At the time of writing, the mining giant’s shares are up slightly to $40.54.

    However, despite this and some recent solid gains, the BHP share price is still trading lower year to date.

    What if you’d invested $1,000 in BHP shares at the start of the year?

    While BHP shares are trading lower year to date, that’s only telling you half the story. It certainly has been an eventful year for the Big Australian!

    Firstly, at the start of the year, BHP’s shares were fetching $41.50. This means that a $1,000 investment would have yielded you approximately 24 shares.

    Today, those shares are worth $972.06, which means you’ve lost almost $28.00 from your original investment. Or have you?

    The full story

    BHP has gone through a major transformation this year. This saw the Big Australian offload its petroleum assets to Woodside Energy Group Ltd (ASX: WDS) in exchange for a stake in the energy giant.

    This stake was then distributed to eligible shareholders, who received one newly issued Woodside share for every 5.534 BHP shares they held at the close of play on Thursday 26 May 2022.

    This means that if you owned 24 BHP shares, you would have been granted 4 new Woodside shares.

    So, with the Woodside share price currently fetching $34.46, these shares have a value of $137.84, which brings the value of your investment to $1,109.90. Now you’re up over 10% on your original $1,000 investment!

    Don’t forget the dividends!

    BHP and Woodside have both rewarded their shareholders with generous dividends this year.

    In FY 2022, BHP paid shareholders total fully franked dividends of approximately $4.63 per share. Whereas, since the demerger, Woodside has paid a $1.60 per share fully franked dividend to shareholders. This means that you would have received the following:

    • 24 x $4.63 = $111.12
    • 4 x $1.60 = $6.40

    All in all, including dividends, this brings the value of your investment to $1,227.42, which represents a total return of almost 23%.

    No wonder BHP shares have been so popular with investors this year!

    The post If I’d invested $1,000 in BHP shares at the start of 2022, here’s what I’d have now appeared first on The Motley Fool Australia.

    .

    More reading

    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.

    from The Motley Fool Australia https://ift.tt/3SbtxHw

  • Own Wesfarmers shares? Here’s some good news on your dividends

    Woman holding $50 notes and smiling.

    Woman holding $50 notes and smiling.

    The Wesfarmers Ltd (ASX: WES) share price is trading lower with the market on Thursday.

    In afternoon trade, the conglomerate’s shares are down almost 1% to $45.09.

    However, shareholders are still likely to be smiling today, despite this decline.

    That’s because today is payday for Wesfarmers shareholders, with the company’s final dividend for FY 2022 hitting bank accounts on Thursday.

    The Wesfarmers dividend

    In August, Wesfarmers released its full year results and revealed an 8.5% increase in revenue to $36.8 billion.

    Things weren’t quite as positive on the bottom line, though. This was due to weakness from its Kmart and Officeworks businesses, which offset strong performances from Bunnings and the WesCEF businesses.

    Wesfarmers reported a 3.8% decline in EBIT to $3.6 billion and a 1.2% reduction in net profit after tax to $2.35 billion

    However, despite this profit decline, the Wesfarmers board declared a $1.00 per share fully franked final dividend. This brought its full-year dividend to $1.80 per share, which was a modest 1.1% increase over the prior corresponding period.

    Eligible shareholders have been paid this $1.00 per share fully franked dividend today, which represents an attractive 2.2% yield at current prices.

    Are Wesfarmers’ shares a buy?

    One leading broker that sees a lot of value in the Wesfarmers share price is Morgans.

    According to a recent note, the broker has an add rating and $55.60 price target on its shares. This implies potential upside of 23% for investors over the next 12 months.

    Pleasingly, Morgans is expecting the Wesfarmers dividend to grow again in FY 2023. It has pencilled in a fully franked dividend of $1.82 per share, which equates to a yield of 4%.

    This brings the total potential return on offer with its shares to 27%.

    The post Own Wesfarmers shares? Here’s some good news on your dividends appeared first on The Motley Fool Australia.

    .

    More reading

    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 positions in and has recommended Wesfarmers 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/frAnvKJ

  • Why dividends matter

    A woman looks quizzical while looking at a dollar sign in the air.

    A woman looks quizzical while looking at a dollar sign in the air.

    Dividends from ASX dividend shares could be one of the most useful and rewarding aspects of investing.

    Businesses can decide to pay out a certain amount of their profit as a dividend or distribution each year.

    Some companies decide to pay out most, or all of their dividend. Others can decide to retain a lot of it to reinvest in the business.

    How much do dividends make up of the return?

    Depending on the investment, dividends could make up a large part – or even the majority – of the return. BHP Group Ltd (ASX: BHP) would be an example of a business that pays out a significant amount of dividends each year.

    If we look at the ASX share market as a whole, by scrutinising the Vanguard Australian Shares Index ETF (ASX: VAS), we can see that in the ten years to 31 August 2022, it made an average return of 9.25% per annum, with the distribution making up 4.7% per annum of that – just over half of the overall return. This exchange-traded fund (ETF) tracks the S&P/ASX 300 Index (ASX: XKO) if you were wondering.

    There are plenty of other ASX shares that do pay dividends, but for some, the dividends only make up a small portion of the returns over the long term. Examples include names like Altium Limited (ASX: ALU), Pro Medicus Ltd (ASX: PME) and WiseTech Global Ltd (ASX: WTC).

    Is it good for ASX dividend shares to make payments?

    Depending on the business, there are a number of benefits.

    They enable investors to benefit with ‘real’ cash returns from the profit and growth of the business. Investors don’t need to sell any of their position to extract some of the returns.

    Another factor that’s good about businesses making payments is that the cash isn’t wasted. Cash could be used to pay off debt, which wouldn’t be a bad idea. But, management could feel like the money is burning a hole in their pocket and make a poor/bad acquisition.

    It’s true that all of the dividend cash could be used to reinvest in the business for more growth. Xero Limited (ASX: XRO) and Berkshire Hathaway are two examples of businesses that have reinvested well for long-term growth.

    One of the best reasons for Australian companies to pay dividends is that it unlocks the franking credits. When Aussie companies make a profit and pay corporate income tax, they generate franking credits which can be attractive because it’s a refundable tax offset. Franking credits reduce how much tax is owed to the ATO, or can be refunded.

    What are some other examples?

    There are a number of ASX dividend shares that pay fully franked dividends like BHP, Wesfarmers Ltd (ASX: WES), Telstra Corporation Ltd (ASX: TLS), Brickworks Limited (ASX: BKW) and Premier Investments Limited (ASX: PMV).

    Depending on an investor’s objectives, different ASX dividend shares could be attractive. For example, how reliable or large are the dividend yields expected to be?

    The post Why dividends matter appeared first on The Motley Fool Australia.

    .

    More reading

    Motley Fool contributor Tristan Harrison has positions in Altium and Brickworks. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Altium, Brickworks, Pro Medicus Ltd., WiseTech Global, and Xero. The Motley Fool Australia has positions in and has recommended Brickworks, Pro Medicus Ltd., Telstra Corporation Limited, Wesfarmers Limited, WiseTech Global, and Xero. The Motley Fool Australia has recommended Premier Investments 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/gTyafur

  • 3 ASX 200 shares smashing all-time highs on Thursday

    Three businesspeople leap high with the CBD in the background.Three businesspeople leap high with the CBD in the background.

    The S&P/ASX 200 Index (ASX: XJO) is in and out of the red on Thursday. Though, it’s being buoyed by three ASX 200 shares hitting new heights.

    Undoubtedly to the joy of their shareholders, the three stocks have climbed as much as 5.7% today to post new record highs.

    Right now, the ASX 200 is 0.17% lower than it was at Wednesday’s close.

    Let’s take a look at what’s led these ASX 200 shares to mark their newest milestones.

    3 ASX 200 shares inking new record highs today

    IGO Ltd (ASX: IGO)

    The share price of ASX 200 diversified mining company IGO is taking off on Thursday, lifting 3% to reach an all-time high of $15.48 this morning.

    Interestingly, there’s been no price-sensitive news from the miner in the last fortnight.

    However, news of confirmed nickel targets at the Mt Alexander Project dropped yesterday. IGO holds a 25% interest in some of the project’s tenements.  

    The stock has been on a roll lately, gaining nearly 19% over the last 30 days.

    Whitehaven Coal Ltd (ASX: WHC)

    Speaking of stocks on a roll, the share price of ASX 200 coal producer Whitehaven Coal has launched more than 270% so far this year to reach an all-time high of $10.32 on Thursday. That’s 5.7% higher than its previous close.

    The company has been a major beneficiary of the surging demand for, and value of, coal in 2022. And the best might be yet to come.

    The federal government recently estimated that financial year 2023 will be a record-breaking year for Australian coal exports.

    New Hope Corporation Limited (ASX: NHC)

    On that note, the New Hope share price is also rocketing to never-before-seen heights today, reaching $6.85 in intraday trade – a 3.5% gain.

    The ASX 200 share is also a coal producer, with a focus on thermal coal.

    Demand for thermal coal, in particular, is expected to soar in the near future as various nations continue their push to keep the lights on.

    The post 3 ASX 200 shares smashing all-time highs on Thursday appeared first on The Motley Fool Australia.

    .

    More reading

    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 Scott Phillips.

    from The Motley Fool Australia https://ift.tt/Po62EMI