Author: openjargon

A little-known ASX mining stock is setting the bar high today.

Very high.

The All Ordinaries Index (ASX: XAO) is down 0.5% today. But at the time of writing shares in this ASX mining stock are surging an eye-watering 177.2% to 9.7 cents apiece following major federal government news.

Any guesses?

If you said Alliance Nickel Ltd (ASX: AXN), give yourself a virtual gold star.

Here’s why investors are sending the ASX mining stock rocketing on Thursday.

ASX mining stock explodes on government project award

With nickel prices tumbling in 2023 amid growing cheaper and dirtier nickel supplies out of Indonesia and China, a lot of Aussie nickel miners have come under pressure.

Indeed, as of market open this morning, the Alliance Nickel share price was down 60% over the past 12 months.

But the ASX mining stock is shaking off those losses and a lot more today after reporting that the Australian federal government has granted its NiWest Nickel Cobalt Project, Major Project Status.

Located in Western Australia, NiWest is reported to contain one of Australia’s highest-grade undeveloped nickel laterite mineral resources. The ASX mining stock is targeting production of 90,000 tonnes nickel sulphate and 7,000 tonnes cobalt sulphate per year from the project.

NiWest marks the first Australian nickel project granted Major Project Status since nickel was added to the critical minerals list in February.

The status is awarded to Australian companies and projects the government believes are strategically significant. Among the benefits, these projects can expect to receive additional support with federal and state regulatory approvals for a three-year period.

Alliance Nickel said that it was granted the status for NiWest in recognition of the potential contribution to Australia’s economic growth and critical minerals industry. It said this recognition will help support the rapid advancement of the project. And it noted that this comes at an opportune time “as global demand for IRA compliant battery-grade nickel and cobalt grows”.

Commenting on the government award sending the ASX mining stock flying higher today, Alliance Nickel CEO Paul Kopejtka said:

We are delighted NiWest has been recognised by the Australian Government as a project of national significance. NiWest is the first nickel project to be awarded MPS since nickel was added to the Critical Minerals List earlier this year.

The NiWest Project is now recognised as significant from an industry and economic perspective, and we look forward to working closely with relevant Ministers, Government and industry bodies as we move towards construction.

The post Guess which little ASX mining stock is rocketing 177% on big government news appeared first on The Motley Fool Australia.

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More reading

• Super Retail share price falls 5% on difficult trading update
• This ASX All Ords stock is crashing 20% on a disappointing update
• Bell Potter says this ASX biotech stock could rocket 80%
• 2 ASX 300 retail shares tumbling lower on key updates today
• Are Qantas shares too expensive at over $6?

Motley Fool contributor Bernd Struben 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.

The Super Retail Group Ltd (ASX: SUL) share price is down 5% after the retailer announced a trading update for the second half of FY24.

Super Retail was presenting at the Macquarie Australia conference today, which included its sales update and details of the group’s 2024 enterprise agreement.

Sales update

The business reported a few different sales statistics.

For the second half of FY24, like-for-like (LFL) sales growth for weeks 27 to 43 showed:

• Supercheap Auto LFL sales rose 1%
• Rebel LFL sales fell 2%
• BCF LFL sales declined 5%
• Macpac LFL sales increased 3%
• Overall group LFL sales dropped 1%

Super Retail also reported total sales growth for weeks 1 to 43 (FY24 year to date):

• Supercheap Auto sales increased 3%
• Rebels sales fell 2%
• BCF sales grew 5%
• Macpac sales went up 2%
• Total group sales rose 2%

The retailer’s total group sales across March and April were approximately 1% higher than the prior corresponding period.

Supercheap Auto benefited from strong demand in auto maintenance categories, including lubricants, power and car detailing.

Rebel footwear sales improved thanks to the introduction of new and expanded brand ranges (including Hoka and On), though apparel demand remains “subdued”.

BCF’s LFL sales reflected “softer trading in the key Easter period and the cycling of clearance activity” in the prior corresponding period.

Macpac’s sales growth was driven by a “strong performance” in New Zealand as inbound travel boosted sales in key tourist destination stores.

It also revealed the group gross profit margin is “in line” with the prior corresponding period. The business has opened 20 stores and closed four in FY24 so far. It expects to open another seven stores before the end of FY24.

2024 enterprise agreement

Super Retail said its 2024 retail and CCC Enterprise Agreement (EA) has been endorsed by its Australian team members and approved by the Fair Work Commission (FWC). The EA covers a three-year term, starting from 14 July 2024.

The new EA will see all wages-paid team members across the group’s Australian retail stores receive higher penalty rates and an increase in base pay rates to the tune of a 5.25% increase in FY25, 3.25% in FY26 and 3.25% in FY27.

The EA applies to the store wages component of the group’s employee expenses (not support office employee expenses) and excludes retail management. Prior to the EA, on 2 July 2023, the group increased retail team member base pay rates by 3%.

Eligible team members will also receive a one-off payment equivalent to 2.75% of their annual base pay, with this to be paid before the end of FY24.

Management comments

Super Retail managing director and CEO Mr Anthony Heraghty said:

Given current challenges around inflation and interest rates, our customers are managing their spending carefully and becoming increasingly value focused.

While store foot traffic and transaction volumes continue to grow, ongoing cost of living pressure is impacting number of items per sale.

Super Retail share price snapshot

Since the start of 2024, the Super Retail share price has dropped 18%.

The post Super Retail share price falls 5% on difficult trading update appeared first on The Motley Fool Australia.

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Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has positions in and has recommended Super Retail Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The Baby Bunting Group Ltd (ASX: BBN) share price is having a very tough time on Thursday.

In morning trade, the ASX All Ords stock was down as much as 20% at one stage.

The baby products retailer’s shares have recovered a touch since then but remain down 17% at the time of writing.

Why is this ASX All Ords stock crashing today?

Investors have been flooding to the exits today after the company released a disappointing trading update.

According to the release, the trend of improving comparable store sales that was seen in the first half has softened over the last two months. Management believes this reflects the ongoing cost-of-living pressures being experienced by new parents with young families.

Baby Bunting advised that through March and April, investments were made in price which fell short of expectations in terms of sales and performance.

This ultimately has led to its gross margin year-to-date easing to 36.9%. This is down from 37.2% during the first half.

On the bottom line, the company’s FY 2024 pro forma net profit after tax is now expected to be in the range of just $2 million to $4 million. This includes a loss of approximately $1.2 million associated with the extended closure and remediation of the Cairns store.

This will be a sizeable decline on FY 2023’s net profit after tax of $14.5 million, which itself was down 51% on FY 2022’s numbers.

Commenting on the underperformance, the ASX All Ords stock’s CEO, Mark Teperson, said:

Baby Bunting remains focused on providing great value to customers. We’re acutely aware that our customers are more sensitive than many other groups to the widespread cost-of-living pressures and are managing their spending carefully.

While we have seen an improving trend in transactions in 2H compared to 1H, this was heavily impacted by a declining average transaction value driven by consumers trading down and ongoing competition in nursery essentials impacting market price.

What’s next?

The company advised that the second half remains a transition period as it builds toward FY 2025.

All stores are now enabled for online fulfilment, which has delivered lower freight costs (due to fewer split orders), better utilisation of inventory, and lower pick costs through April.

In addition, its revised go-to-market promotional strategy is showing positive trends in active customers and transaction volumes.

Teperson concludes:

Our focus on customer experience and simplification of the business continues. We continue to look for opportunities to align the cost profile with the Group’s sales trajectory and future growth plans.

In late June, the ASX All Ords stock plans to provide a further update on FY 2024 trading, its initiatives into FY 2025, and its strategy for the year ahead and beyond.

The post This ASX All Ords stock is crashing 20% on a disappointing update appeared first on The Motley Fool Australia.

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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.

Paradigm Biopharmaceuticals Ltd (ASX: PAR) shares could have huge upside potential.

That’s the view of analysts at Bell Potter, which believe the ASX biotech stock could be a great option for investors with a high tolerance for risk.

What is Paradigm Biopharmaceuticals?

Paradigm Biopharmaceuticals is a biotechnology company focused on repurposing Pentosan Polysulfate Sodium (PPS) for the treatment of osteoarthritis (OA) in the knee.

Bell Potter believes that the global market for a safe, effective treatment that provides superior patient outcomes compared to the standard of care is a “multiple blockbuster.”

In fact, it has suggested that market estimates of US$10 billion in annual revenues are likely conservative.

The good news is that the company’s recently completed phase II study produced some highly encouraging results, which are worthy of further clinical trials.

What is the broker saying about this ASX biotech stock?

Bell Potter notes that the coming weeks will be pivotal for this ASX biotech stock. This is because it is expecting to receive feedback from the US FDA in relation to its pathway for its treatment. It said:

PAR has a major short term catalyst within weeks being FDA feedback from its recent meeting to discuss the pathway for iPPS. A key discussion point was the design of the proposed phase 3 and confirmatory study for iPPS in osteoarthritis (OA) including the minimal effective dose (2mg twice weekly for 6 weeks). Recent studies in lower doses proved ineffective in the management of pain, hence there is no alternative to this optimal dose. Other than efficacy, the key considerations are toxicity and safety.

The data from several hundred patients treated in various clinical studies, the Special Access Scheme in Australia and non-clinical studies has shown iPPS at the optimal dose to be exceptionally safe with no serious adverse events. Accordingly, we are confident the FDA will approve the minimal effective dose and the proposed trial design.

In light of the above, this morning the broker has reaffirmed its speculative buy rating on the company’s shares with a 47 cents price target. Based on its current share price, this implies over 80% upside for investors over the next 12 months.

Though, it is worth remembering that Bell Potter’s speculative rating means this is a high risk play. So, investors with a low or normal risk tolerance may want to stay well clear of the ASX biotech stock and focus on more appropriate investment options.

The post Bell Potter says this ASX biotech stock could rocket 80% appeared first on The Motley Fool Australia.

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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.

Two leading S&P/ASX 300 Index (ASX: XKO) retail shares released some key updates this morning.

Namely consumer electronic goods retailer JB Hi-Fi Ltd (ASX: JBH) and online furniture and homewares retailer Temple & Webster Group Ltd (ASX: TPW).

Here’s what they announced.

ASX 300 retail share slides on results

The Temple & Webster share price is down 3.0% to $12.24 after the ASX 300 retail share released a trading update ahead of its presentation at the Macquarie Conference.

Still, shares remain up a whopping 93% over the past six months.

Shares are sliding despite Temple & Webster reporting that the first half-year sales were strong, with sales from 1 January to 5 May up 30% compared to the prior corresponding period. The company said sales growth is being driven by both repeat and first-time customers.

And Temple & Webster is harnessing artificial intelligence to drive growth and improve customer experience.

“Our suite of internal AI solutions are delivering, in aggregate, conversion rate increases of over 10% and are now handling ~40% of all customer interactions,” the company stated.

The ASX 300 retail share also reaffirmed its full-year earnings before interest, taxes, depreciation and amortisation (EBITDA) guidance range.

“We reiterate our EBITDA guidance of 1-3%, targeting the mid-point of the range as we continue to invest in growing our market share and delivering on our key growth pillars,” CEO, Mark Coulter, said.

“While the overall furniture and homewares market is down 4% HTD [1 January to 5 May] due to cost-of-living pressures, our strong growth highlights the significant market share gains we are making,” Coulter added.

As for the balance sheet, the ASX 300 retail share is holding more than $100 million in cash with no debt.

Temple & Webster reports its full-year results in August.

JB Hi-Fi share price dives on slowing growth

The JB Hi-Fi share price is also under selling pressure this morning, down 5.5% to $56.65 after the electronics retailer released a sales update for the period from 1 January to 31 March (Q3 FY 2024).

The JB Hi-Fi share price remains up 22% over the past six months.

The ASX 300 retail share reported a 0.3% year on year decline in same-store sales growth for its JB Hi-Fi Australia business. The JB Hi-Fi New Zealand business, on the other hand, enjoyed a 2.9% increase. Comparable sales growth at The Good Guys dipped 0.8% from the prior corresponding period.

For the first three quarters of FY 2024, JB Hi-Fi sales growth in both Australia and New Zealand was flat. Sales growth at The Good Guy sales declined by 7.3%.

Commenting on the results pressuring the ASX 300 retail share today, CEO Terry Smart said, “We are pleased with our Q3 FY24 sales results. Our trusted value-based offerings and high levels of customer service continue to resonate with our customers.”

The post 2 ASX 300 retail shares tumbling lower on key updates today appeared first on The Motley Fool Australia.

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Motley Fool contributor Bernd Struben 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 Temple & Webster Group. The Motley Fool Australia has recommended Jb Hi-Fi and Temple & Webster Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Qantas Airways Limited (ASX: QAN) shares have been on a roll in recent weeks.

Since early March, the airline operator’s shares have ascended by an impressive 24%.

This leaves them trading above the $6.00 mark for the first time this year.

Does this make its shares expensive? Or can they keep climbing? Let’s see what analysts are saying.

Are Qantas shares too expensive?

The good news for investors is that you may not be too late to the Qantas party.

In fact, if one leading broker is on the money with its recommendation, there could be even larger gains to come for investors buying at today’s price.

According to a recent note out of Goldman Sachs, its analysts have retained their buy rating and $8.05 price target on the airline operator’s shares.

Based on the current Qantas share price of $6.21, this implies potential upside of 30% for investors over the next 12 months.

And while the broker is not expecting any dividends this year, they could be on the horizon. The broker is forecasting a 30 cents per share dividend in FY 2025. This represents a very attractive 4.8% dividend yield.

Why is it bullish?

Goldman believes the market is undervaluing the company based on its improved earnings capacity following the transformation of its business following the COVID crisis.

Despite these improvements, the company’s valuation remains below pre-COVID times. It explains:

Qantas Airways is the flagship carrier of Australia and is the largest airline in Australia by capacity share, serving destinations domestically and internationally. As a key beneficiary of the re-opening of the world post-COVID, we expect the airline’s traffic capacity to return to 95% of pre-COVID levels by FY24e, with the airline’s earnings capacity (EPS) expected to exceed that of pre-COVID levels by ~52%. We forecast a ~24% FY19-24e cumulative uplift in unit revenues (c. 4.4%pa), and ~50% drop-through of QAN’s A$1bn+ structural cost-out program. QAN’s current market capitalisation and enterprise value are 10% below and 11% below pre-COVID levels.

Goldman then adds:

As such, we believe QAN is not priced for a generic recovery, let alone prospects for improved earnings capacity. We continue to see upside associated with substantially improved MT earnings capacity.

Overall, this could make Qantas shares a good option if you’re looking for exposure to the travel sector.

The post Are Qantas shares too expensive at over $6? appeared first on The Motley Fool Australia.

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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 Goldman Sachs Group. 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.

ASX growth shares can deliver the most growth over the long term thanks to the power of compounding. If I were investing $500 today, I’d want to choose stocks that can grow earnings significantly but aren’t priced exorbitantly.

There are plenty of great businesses on the ASX, such as WiseTech Global Ltd (ASX: WTC), Pro Medicus Ltd (ASX: PME) and REA Group Limited (ASX: REA). However, these stocks certainly come with hefty price/earnings (P/E) ratio price tags.

There are a few different factors I’d want to identify with a compelling ASX growth share.

ASX growth share characteristics I look for

One of the first things I’m looking for is that the business has a solid core offering that seems relatively insulated from technological change and competition – some industries are changing (and being challenged) very quickly.

Next, ideally, I want to see that the ASX growth share has in-built operating leverage, meaning as the business becomes bigger, profit margins grow enabling net profit after tax (NPAT) to rise faster than revenue. Why is that important? Profit is usually what investors use to value a business, and profit pays for dividends. Accelerating profit should mean good shareholder returns over time.  

Global growth is a key factor that I like to look for. Australia is a great country, but the relatively small population means the growth ceiling can be reached fairly quickly. Tapping into the North American, Europe or Asia markets can be very lucrative for an ASX company.

Finally, I’d want to invest in a business that is reasonably priced, thinking about the potential profit it may generate in the next two to three years.

Where I’d invest $500 right now

I’ll talk about my latest ASX growth share investment, seeing as I made it just a few days ago.

Collins Foods Ltd (ASX: CKF) operates KFC outlets in Australia, the Netherlands and Germany. It’s also responsible for Taco Bells in Australia. I think KFC has a strong brand, and I can’t see food as we know it being replaced any time soon.

It’s displaying excellent operating leverage at the moment. In the FY24 first-half result, Collins Foods reported revenue rose 14.3%, underlying earnings before interest, tax, depreciation and amortisation (EBITDA) increased 16.7% and underlying net profit went up 28.7%. That’s exactly the sort of profit margin improvement I like to see.

There is plenty of room for Collins Foods to grow its KFC and Taco Bell networks in Australia, and the potential growth in Germany and the Netherlands is very compelling to me. It opened four new KFC locations in Australia in HY24 and eight in the Netherlands.

According to the estimates on Commsec, Collins Foods shares are valued at 18x FY24’s estimated earnings. It is then projected to grow earnings per share (EPS) by 44% to 74.8 cents, which puts it at just 13x FY26’s estimated earnings.

Collins Foods isn’t the only S&P/ASX 200 Index (ASX: XJO) share that I’ve invested in recently. I’ve also written about Corporate Travel Management Ltd (ASX: CTD) here and Johns Lyng Group Ltd (ASX: JLG) here as other ideas.

The post The smartest ASX growth shares to buy with $500 right now appeared first on The Motley Fool Australia.

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Motley Fool contributor Tristan Harrison has positions in Collins Foods and Johns Lyng Group. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Corporate Travel Management, Johns Lyng Group, Pro Medicus, REA Group, and WiseTech Global. The Motley Fool Australia has positions in and has recommended Corporate Travel Management and WiseTech Global. The Motley Fool Australia has recommended Collins Foods, Johns Lyng Group, Pro Medicus, and REA Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.