The Novonix Ltd (ASX: NVX) share price had a tough run in November.

Novonix shares fell 16.42% between market close on 31 October and 30 November. For perspective, the S&P/ASX 200 Index (ASX: XJO) climbed 6.13% in the same time frame.

Let’s take a look at how Novonix shares performed in November.

What happened?

Novonix shares fell in November following a very strong month in October. The company’s shares soared 52% between market close on 30 September and 31 October.

As my Foolish colleague James noted recently, Novonix shares may have come under pressure in November due to profit taking on the gains in the previous month. Further, battery materials shares were under pressure during the month due to demand concerns from China.

Novonix is a battery materials and technology company working on solutions for electric vehicles and grid energy storage. The company has operations in Canada and the United States.

Novonix provided an update on its US$150 million grant from the US Department of Energy (DOE) in early November. The grant will support the company’s anode materials division to scale up domestic production of synthetic graphite anode materials.

The project is expected to cost about US$1 billion between 2023 and 2025.

On 9 November, Novonix advised it had launched a new pilot production facility for cathode materials.

Commenting on this facility, Novonix CEO and founder Chris Burns said:

Launching our cathode pilot facility is another significant step in NOVONIX’s efforts to pioneer
a North American battery supply chain and revolutionize the sector with high quality materials
and more efficient production methods.

The team at Morgans placed a speculative buy rating and a $3.11 price target on Novonix shares in November.

Novonix share price snapshot

Novonix shares have fallen 72% in the past year, while they have lost 75% year to date.

For perspective, the ASX 200 has climbed 1.17% in the last year.

Novonix has a market capitalisation of about $1.1 billion based on the current share price.

The post Why did the Novonix share price crash 16% in November? appeared first on The Motley Fool Australia.

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More reading

• These were the worst performing ASX 200 shares in November
• Here are the top 10 ASX 200 shares today
• Why has the Novonix share price crumbled 19% in 2 weeks?
• Will ASX 200 tech company Novonix deliver a profit in 2023?
• Are investors losing faith in Novonix shares?

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 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) got off to a good start this week. The index finished Monday’s session 0.33% higher at 7,325.6 points.

The S&P/ASX 200 Energy Index (ASX: XEJ) posted the market’s biggest gains today, lifting 1.5% despite a disappointing Friday for global oil prices.

The Brent crude oil price fell 1.5% to US$85.57 a barrel on Friday while the US Nymex crude oil price slumped 1.5% to US$79.98 a barrel.

Perhaps less surprisingly, the S&P/ASX 200 Materials Index (ASX: XMJ) also soared, gaining 1.4% after a strong session for iron ore.

Iron ore futures surged 4.2% to US$107.44 a tonne on Friday, leaving it up 15.9% for the week just been. 

Also on Friday, S&P Dow Jones Indices outlined upcoming changes to the index, set to take effect on 19 December. From then on, St Barbara Ltd (ASX: SBM) will be removed from the ASX 200 with Monadelphous Group Limited (ASX: MND) taking its place.

But it wasn’t all green on the Aussie bourse today. The S&P/ASX 200 Health Care Index (ASX: XHJ) slipped 0.7% while the S&P/ASX 200 Utilities Index (ASX: XUJ) dumped 1.1%.

At the end of Monday’s session, six of the ASX 200’s 11 sectors were in the green. But which stock took out today’s top spot? Keep reading to find out.

Top 10 ASX 200 shares countdown

Monday’s top-performing ASX 200 stock was Fortescue Metals Group Limited (ASX: FMG). Its share price soared 6.9% today.

Today’s biggest gains were made by these shares:

ASX-listed company	Share price	Price change
Fortescue Metals Group Limited (ASX: FMG)	$21.03	6.86%
Beach Energy Ltd (ASX: BPT)	$1.895	5.28%
Rio Tinto Limited (ASX: RIO)	$116.13	3.74%
South32 Ltd (ASX: S32)	$4.34	3.58%
Adbri Ltd (ASX: ABC)	$1.785	3.48%
Karoon Energy Ltd (ASX: KAR)	$2.40	3.45%
Sandfire Resources Ltd (ASX: SFR)	$5.42	3.24%
Ramelius Resources Limited (ASX: RMS)	$1.02	3.03%
Deterra Royalties Ltd (ASX: DRR)	$4.76	2.81%
Inghams Group Ltd (ASX: ING)	$2.95	2.79%

Our top 10 shares countdown is a recurring end-of-day summary to let you know which companies were making big moves on the day. Check in at Fool.com.au after the weekday market closes to see which stocks make the countdown.

The post Here are the top 10 ASX 200 shares today appeared first on The Motley Fool Australia.

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More reading

• Why has the BHP share price bolted out the gates on Monday?
• Here are the 3 most heavily traded ASX 200 shares on Monday
• Why Imugene, Rio Tinto, Santos, and Warrego shares are pushing higher
• It took me years to realise I’m no investing genius like Warren Buffett
• The Fortescue share price is surging 6% today, but what’s next in December?

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.

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The BHP Group Ltd (ASX: BHP) share price has charged higher today.

BHP shares are up 2.80% near the close, trading at $47.00 after hitting a high of $47.25 earlier this afternoon. The S&P/ASX 200 Index (ASX: XJO) is also in the green, up 0.53% at the time of writing.

Shares in BHP have lifted today, but the company is not the only ASX mining share in the green. The RIO Tinto Ltd (ASX: RIO) share price is up 3.60% today, while Fortescue Metals Group Ltd (ASX: FMG) shares are soaring 7.77%.

Let’s take a look at what is going on with the BHP share price.

What’s going on?

BHP is a major iron ore producer. The company also explores copper, nickel, potash and metallurgical coal.

The company’s share price momentum today follows a 4.2% lift in iron ore futures in the United States on Friday to US$107.44 a tonne. Overall, iron ore surged 15.9% last week.

Iron ore futures on the Singapore Exchange are currently up 1.96% to US$108 per tonne.

Commenting on the iron ore price, ANZ head of economics David Plank said in a research note that iron ore was “buoyed by China’s moves to support the property sector”. He added:

These measures should have a better chance of developing into stronger demand for steel and iron ore.

Meanwhile, BHP provided a non-price-sensitive update on an English High Court case today. BHP has filed a defence against a group action claim seeking damages for alleged losses related to the Fundao Dam collapse in 2015. BHP denies the claims in their entirety.

Share price snapshot

The BHP share price has soared 31% in the last 12 months, while it has gained nearly 28% year to date.

For perspective, the ASX 200 has returned 1.37% in the last year.

BHP has a market capitalisation of around $238 billion based on the current share price.

The post Why has the BHP share price bolted out the gates on Monday? appeared first on The Motley Fool Australia.

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More reading

• Why Imugene, Rio Tinto, Santos, and Warrego shares are pushing higher
• It took me years to realise I’m no investing genius like Warren Buffett
• The Fortescue share price is surging 6% today, but what’s next in December?
• I consider myself an environmentalist, but I still bought Fortescue shares. Here’s why
• Why did the Rio Tinto share price rocket 24% in November?

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 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 A2 Milk Company Ltd (ASX: A2M) share price was a strong performer in November.

During the period, the infant formula company’s shares rose almost 18%.

This means the A2 Milk share price is now in positive territory for 2022 with a year to date gain of 12%.

Why did the A2 Milk share price smash the market in November?

There were a couple of key catalysts for the strong A2 Milk share price performance in November.

The first was news that the US Food & Drug Administration has granted A2 Milk approval to import, sell, and distribute infant formula products in the US market.

Due to the timing of the agreement, management doesn’t expect any impact in the first half of FY 2023. However, it estimates that it will ship 1 million cans of infant formula to the country during the second half.

The company also notes that it has capacity to supply upwards of 9 million cans in the future if required. So, this could be the beginning of something much greater if all goes to plan.

A2 Milk’s CEO, David Bortolussi, commented:

We are increasing our supply to respond to this situation, while importantly ensuring that we continue to meet the needs of our other IMF consumers and trade partners in China and other markets. If the US requires further support over an extended period, we have the proven ability to scale up significantly.

What else?

Also supporting the A2 Milk share price was the company’s ongoing NZ$150 million on-market share buyback.

After commencing on 8 November, the company was regularly dipping into the market to buy shares and then retire them. So much so, according to its 1 December buyback notice, A2 Milk had bought 7,159,019 shares during the month since the buyback began.

This represents in the region of $43 million in buyback, which means there’s still plenty more to come in December and beyond.

The post What drove the A2 Milk share price 18% higher in November? appeared first on The Motley Fool Australia.

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More reading

• Thank you Mr Powell! 7 ASX 200 shares cracking new 52-week highs on Thursday
• The A2 Milk share price just hit a 52-week high. What’s going on?
• 2 absolute bargain ASX shares to buy right now: analyst
• Up 40% in six months, can the A2 Milk share price keep rising?
• Why has the A2 Milk share price rocketed 18% so far this month?

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 recommended A2 Milk. 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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