Category: Stock Market

The BHP Group Ltd (ASX: BHP) share price has struggled so far in 2024.

As at Friday’s close, shares in the S&P/ASX 200 Index (ASX: XJO) mining giant were down 9.4% since the opening bell sounded on 2 January.

For some context, the ASX 200 is down 2.7% so far in 2024.

Much of the headwinds dragging on the BHP share price have come from a slumping iron ore price, the miner’s top revenue earner. The price of copper, BHP’s number two revenue earner, is down sharply too.

But it looks to be nickel, which accounts for a much smaller percentage of BHP’s revenue, that’s putting an extra thorn in the ASX 200 miner’s side.

What’s happening with the ASX 200 miner’s nickel operations?

The BHP share price closed down 1.8% on Thursday following the release of the company’s quarterly production update. (The ASX 200 fell 0.6% on the day.)

Investors may not have been overly focused on the miner’s nickel operations, yet a 50% year-on-year fall in nickel prices didn’t go unnoticed.

“At Nickel West, we are evaluating options to mitigate the impacts of the sharp fall in nickel prices,” BHP said.

The miner’s quarterly nickel production was up 4% to 40,000 tonnes. But the average realised price of US$18,602 per tonne was down 24%.

According to BHP:

The nickel industry is undergoing a number of structural changes and is at a cyclical low in realised pricing. Nickel West is not immune to these challenges. Operations are being actively optimised, and options are being evaluated to mitigate the impacts of the sharp fall in nickel prices.

BHP said that under the existing market conditions, “a carrying value assessment of the group’s nickel assets is ongoing”. Investors can expect more details on 20 February with the release of its financial results.

 Nickel prices have been under pressure amid a big increase in supply from Indonesia, whose nickel carries a bigger carbon footprint but comes with a cheaper price tag.

Commenting on that situation, Wyloo Metals CEO Luca Giacovazzi said (quoted by The Australian Financial Review):

The industry needs a more appropriate and transparent pricing mechanism, that distinguishes between clean and dirty nickel, so consumers can be confident their EV really is a better choice for the environment.

BHP Nickel West Asset president Jessica Farrell said, “We are working hard to remain globally competitive in a very tough operating environment.”

She noted, “Costs have risen sharply and continue to go up while prices have fallen as new supply comes into the market.”

BHP share price snapshot

The BHP share price is down 7% over 12 months. Shares are up 3% over the past six months.

The post Why the BHP share price has a nickel thorn in its side appeared first on The Motley Fool Australia.

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More reading

• 3 ASX 200 dividend shares I think you could safely hold for decades
• Brokers name 3 ASX shares to buy now
• Are BHP shares a buy following the miner’s Q2 update?
• 5 things to watch on the ASX 200 on Friday
• BHP shares tumble after missing expectations in second quarter

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.

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Looking at the Pilbara Minerals Ltd (ASX: PLS) share price today, one thing might stand out to you, especially if you’re an income investor. That would be Pilbara shares’ stonking dividend yield.

The ASX 200 lithium stock was going for $3.47 a share at the close of trade yesterday. At this share price, Pilbara has a trailing dividend yield of 7.20% on the table.

Now, 7.20% is obviously a massive dividend yield for any ASX 200 share to possess. Heck, it even comes in above what all four of the major ASX bank shares are currently offering.

So does this yield make Pilbara shares a no-brainer buy today?

Should you buy Pilbara Minerals shares for that 7% yield?

At face value, this dividend yield checks out. It comes from the two dividend payments Pilbara Minerals made to investors over 2023, which was a first for the company.

The first of these payments was the March interim (and Pilbara’s maiden) dividend worth 11 cents per share. The second is the final dividend from September worth 14 cents per share. Both dividends came with full franking credits attached.

That 2023 total of 25 cents per share works out to be worth a 7.17% yield at the current $3.48 share price.

However, as any good dividend investor knows, a company’s trailing dividend yield does not guarantee any future income whatsoever.

There’s absolutely nothing stopping Pilbara Minerals from halving or even eliminating its dividend for 2024 and beyond.

And I happen to think there’s a strong possibility that this will happen.

A lithium dividend trap?

Like any commodity company, Pilbara’s ability to fund dividends is almost entirely dependent on what it can sell its commodity for. A boom in lithium prices over 2022 and 2023 enabled the company to fund these bumper dividends. However, the back half of last year saw lithium prices dramatically come off the boil.

That’s partially why Pilbara Minerals shares have lost so much steam in recent months, falling around 35% from more than $5.30 a share in August last year to the current levels.

Unless lithium prices rebound this year, it seems unlikely Pilbara will be able to fund those kinds of dividend payments again in 2024.

ASX broker Goldman Sachs would probably agree. Earlier this week, my Fool colleague James covered Goldman’s recent sell rating on Pilbara shares. The broker gave the miner a 12-month share price target of $3.20 and stated the following:

With our view of ongoing supply pressure in the lithium market, and PLS recently outperforming peers despite near-term FCF [free cash flow] continuing to decline on lithium prices and increasing growth spend… we see PLS as relatively expensive on fundamentals, and downgrade to Sell.

So, all in all, I think Pilbara shares are a high-risk investment for dividend seekers today. There are simply more reliable dividend stocks on the ASX to choose from in my view.

Pilbara Minerals may still have a bright future ahead of it. But I wouldn’t say it’s a buy for dividend income today.

The post Are Pilbara Minerals shares a buy for that 7% dividend yield? appeared first on The Motley Fool Australia.

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More reading

• Here are the top 10 ASX 200 shares today
• Which had the better year in 2023: Core Lithium, Liontown or Pilbara Minerals shares?
• 5 things to watch on the ASX 200 on Tuesday
• Why Chalice Mining, Nuix, Pilbara Minerals, and Sayona Mining shares are falling
• Pilbara Minerals share price tumbles despite Ganfeng Lithium deal

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 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.

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It’s a choice facing so many Australians: should I buy ASX shares, or top up my superannuation account? Investing is always about choices and opportunity costs. As it is with this particular question.

There is no right or wrong answer here, but both options have both upsides and downsides.

So let’s talk about whether you should invest in ASX shares, or your super fund in 2024.

Super vs shares

To be clear, investing in shares and your super is really two sides of the same coin. Most super funds allocate most of their members’ cash to shares anyway. And even if you have a self-managed super fund, chances are you’ll have at least some of the fund invested in the share market.

But that doesn’t mean we don’t have a real contest here.

Let’s start with superannuation.

As most of us would be aware, superannuation exists in order to provide an avenue for a comfortable, self-funded retirement for Australians. It involves locking up our money in a tax-sheltered account until we reach retirement age. Whilst we wait, that capital sits invested in assets like ASX shares.

And that gives us both the main advantage and the main disadvantage of choosing the super route.

Is topping up your superannuation your best bet?

The main advantage of super is that you will never find a better (legal) tax dodge for your investing. Funds going into superannuation accounts are usually taxed at just 15%. And once you’re in pension mode, any earnings are normally tax-free. Of course, this depends on individual circumstances, but that’s the general rule (make sure you check with a tax adviser though).

However, the main disadvantage is that you can’t actually enjoy the benefits of this tax shelter until you reach your preservation age. This will range from 55 to 60, depending on your year of birth. Until then, your investments will be held under lock and key. Bad news if you are trying to FIRE your way to an early retirement.

If you are planning to retire early, using the passive income from your ASX shares to do so, you might want to think about investing in ASX shares outside your superannuation instead.

Of course, you won’t get those lucrative super tax perks. However, you can still take advantage of some of the other significant tax advantages that investing in ASX shares still offers.

So when it comes to choosing to invest in ASX shares or topping up your super, it really depends on your work and life goals.

If early retirement is something you want to pursue, you might want to maximise your non-super assets. But if you just wish to build wealth as effectively as possible, a super top-up might be your best bet.

The post Should I buy ASX shares or top up my superannuation? appeared first on The Motley Fool Australia.

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More reading

• Are Pilbara Minerals shares a buy for that 7% dividend yield?
• 3 ASX 200 dividend shares I think you could safely hold for decades
• How I’d invest $300 a month in ASX shares to target $22,000 annual passive income!
• Got a spare $1,000? I’d buy 10 shares of this ASX 200 stock to aim for a million
• Here’s how the ASX 200 market sectors stacked up this week

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.

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Some S&P/ASX 200 Index (ASX: XJO) dividend shares offering attractive yields today may not look nearly so attractive 10 or 20 years down the road.

The world is changing faster than ever before.

And with it, the future demand for services and commodities is likely to see some major transformations as well.

But some ASX 200 dividend shares will stand the test of time far better than others.

While there are no guarantees in life or in the stock markets, below we’ll look at three blue-chip ASX companies I believe you could safely hold for decades of reliable passive income.

Three ASX 200 dividend shares to buy and hold onto

First up, we have mining giant BHP Group Ltd (ASX: BHP), the largest stock listed on the ASX.

With its vast land holdings and diverse operations, I believe this ASX 200 dividend share is well-positioned to adjust to the world’s changing commodity demands.

BHP currently derives most of its revenue from iron ore, with copper coming in at number two. But the miner also has a large exposure to uranium. And, if desired, it has plenty of cash and scope to enter the lithium space or other minerals that may be in greater demand in 2050 than they are today.

BHP currently trades on a 5.7% fully franked trailing dividend yield.

Which brings us to our second ASX 200 dividend share to buy and hold for decades, Commonwealth Bank of Australia (ASX: CBA).

The biggest bank stock in Australia, CommBank offers a wide range of integrated financial services.

As the requirements for these services change over the decades, I believe CBA is well-placed to adapt to and, indeed, be a front runner on these changes.

CBA currently trades on a fully franked trailing dividend yield of 4.0%.

Rounding off the list of ASX 200 dividend shares I think you could safely hold for decades is retail stock JB Hi Fi Ltd (ASX: JBH).

Over the coming years, I reckon the demand for electronics of all shapes and sizes (some we’ve yet to even think up) will only continue to tick higher.

As with the above two blue-chip stocks, I think JB Hi-Fi is well-positioned to adapt to that shift in consumer demand, embracing items like those AI-enabled homewares everyone will just have to have.

JB Hi-Fi currently trades on a fully franked 5.4% trailing dividend yield.

Looking over the horizon

Now, to be sure, the passive income delivered by these three ASX 200 dividend shares will vary over the decades. Some years their yields may be higher than what we see today. Others, they may be lower.

But I do believe they’ll all be strong market players and income payers for many, many years to come.

The post 3 ASX 200 dividend shares I think you could safely hold for decades appeared first on The Motley Fool Australia.

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More reading

• Brokers name 3 ASX shares to buy now
• Are BHP shares a buy following the miner’s Q2 update?
• 5 things to watch on the ASX 200 on Friday
• BHP shares tumble after missing expectations in second quarter
• 5 things to watch on the ASX 200 on Thursday

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 recommended Jb Hi-Fi. 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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How would I invest to create passive income?

I personally am a fan of ASX growth shares, so would try to construct a well diversified portfolio of those stocks.

I reckon putting in just $300 a month could eventually land you a perpetual passive income that averages out to $22,000 each year.

Imagine what you could do with $22,000 extra every 12 months in addition to your day job.

It can go a long way into paying off the mortgage, fund the children’s education, or buying a luxurious international holiday with your loved ones.

Let’s check out hypothetically how this can be done:

3 growth shares that look great to me

Comparison site Finder last year found the average Australian has around $40,000 saved up.

So let’s start with that.

I want to diversify the growth stocks I buy, so I would perhaps choose a range like Life360 Inc (ASX: 360), Telix Pharmaceuticals Ltd (ASX: TLX) and Block Inc CDI (ASX: SQ2).

That’s one software maker, one pharmaceutical, and one fintech.

All three are well favoured by professionals at the moment.

Seven out of eight analysts covering Life360 rate the tech stock as a buy, according to CMC Invest. All seven that study Telix recommend it as a buy, while all three professionals that have evaluated Block reckon it’s an add.

Now, the past should never be taken as a sign of what’s to come in the future. But to demonstrate just how viable it is to generate decent passive income, let’s take a look at their returns.

Life360 has been on the bourse for just four months shy of five years, and the stock has climbed 34% in that time. Telix has been sensational over that half-decade, soaring an amazing 1,392%.

Block Inc, since its listing on the ASX in January 2022, has been a disaster, trading 43% lower.

Assuming a full five-year period, Life360’s compound annual growth rate (CAGR) calculates to be 6%. Telix was a sensational 71.7%.

A decade of patience, then turn on the passive income

With a diversified mixture of sectors, geographies and stock performance, perhaps you could manage a CAGR of 12% with that $40,000 portfolio.

If you are disciplined with your saving and can thus add $300 each month, the growth will very much accelerate to the promised land.

After 10 years, the portfolio will have fattened up to $187,409.

From then on, the 12% return each year can be sold off to provide passive income.

That’s an average of $22,489 cash coming your way annually, as long as you maintain that stock portfolio.

Ten years. That’s all you need.

The post How I’d invest $300 a month in ASX shares to target $22,000 annual passive income! appeared first on The Motley Fool Australia.

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More reading

• Got a spare $1,000? I’d buy 10 shares of this ASX 200 stock to aim for a million
• ‘Consistent alpha generation’: 3 ASX 200 shares sitting pretty for the long run
• Here are the top 10 ASX 200 shares today
• Here are the top 10 ASX 200 shares today
• Here are the top 10 ASX 200 shares today

Motley Fool contributor Tony Yoo has positions in Block, Life360, and Telix Pharmaceuticals. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Block, Life360, and Telix Pharmaceuticals. The Motley Fool Australia has positions in and has recommended Block. The Motley Fool Australia has recommended Telix Pharmaceuticals. 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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Just one grand could be the start of something special.

It sounds corny, but it’s true with the magic of ASX shares and compounding.

Maybe it’s a reflection on the state of numeracy in the general population, but many Australians are walking around without realising how a million bucks could be within reach.

Let’s check out how one could achieve this with one particular S&P/ASX 200 Index (ASX: XJO) stock as an example:

ASX 200 outfit cleaning up its act

Fintech Block Inc CDI (ASX: SQ2) might be a US$40 billion giant, but it’s been making some huge changes in the way it operates.

The previously profligate startup is cleaning up its expenses and focusing on cash flow. And the market is sitting up and taking notice.

“Block Inc outperformed in December following the release of its 3Q23 result the month prior, which exceeded investor expectations with respect to future cost discipline, and strong messaging about internal personnel productivity,” read a memo to clients from ECP analysts.

“The result is an expectation of faster operating leverage to emerge across business units, with a plan to hit Block’s ‘rule of 40’ in 2026.”

Indeed the Block share price has rocketed 61.8% since the start of November.

Block Inc shares, however, have pulled back 13.7% so far this year with the market volatility caused by the uncertainty of how soon interest rate cuts might come.

Despite this, according to CMC Invest, all three analysts that cover the ASX 200 stock still reckon it’s a strong buy.

And this buying opportunity means you can now pick up 10 Block shares with your $1,000.

Let’s make a million

Past is never an indicator of future performance, but checking out the track record of Block shares gives us an idea of what’s realistic for that $1,000 to achieve.

The ASX 200 stock only listed in 2022, so for long term history we need to examine the original US version, Block Inc (NYSE: SQ).

That has returned 402% since listing in November 2015.

If we round those figures to a 400% gain over eight years, the compound annual growth rate (CAGR) works out to be 22.3%.

That’s not a bad result at all, considering that period has seen multiple market corrections, such as the 2018 correction, the 2020 COVID-19 crash, and the 2022 inflation crisis.

So if your $1,000 of Block shares can grow at 22% each year, and you can chip in $800 a further each month, you’re on your way.

After 16 years at that rate, your investment will have grown to $1,031,456.

There’s your million.

If you can start when you are 35 years old, you will have reached seven figures at 51, which is not a bad age to retire at.

The post Got a spare $1,000? I’d buy 10 shares of this ASX 200 stock to aim for a million appeared first on The Motley Fool Australia.

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More reading

• ‘Consistent alpha generation’: 3 ASX 200 shares sitting pretty for the long run
• Here are the top 10 ASX 200 shares today
• Why these 3 ASX 200 stocks leapt into The Motley Fool’s headlines this week
• Why Block, Brainchip, Gold Road, and Northern Star shares are dropping today
• Why is the Block share price getting hammered on Wednesday?

Motley Fool contributor Tony Yoo has positions in Block. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Block. The Motley Fool Australia has positions in and has recommended Block. 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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Technology led the ASX 200 market sectors again this week, gaining 2.85% over the five trading days.

The S&P/ASX 200 Index (ASX: XJO) weakened by 0.94% over the week to finish at 7,421.2 points on Friday.

Four market sectors finished the week in the green.

Let’s review what happened.

Tech shares led the ASX sectors again this week

This is the second consecutive week that tech stocks have led the market.

As we reported, ASX 200 tech shares gained 2.76% last week. Combined with this week’s gains, tech stocks have gathered 5.6% over the past fortnight.

We saw a historic moment overseas with tech stocks this week. On Tuesday, long-time leader Apple Inc (NASDAQ: AAPL) was knocked off its perch as the world’s largest company by market cap.

Microsoft Corp (NASDAQ: MSFT) took the mantle, with my colleague Tony reporting that the company’s stake in OpenAI has encouraged more investment in recent times.

On the ASX 200 boards this week, Xero Limited (ASX: XRO) set the pace among the five biggest ASX tech shares. The Xero share price lifted 5.02% over the five trading days to close at $114.73 on Friday.

The Altium Limited (ASX: ALU) share price rose by 3.5% over the five days to finish at $48.22 on Friday. Tech sector heavyweight Wisetech Global Ltd (ASX: WTC) rose by 1.06% to $73.74.

The Nextdc Ltd (ASX: NXT) share price faltered by 1.51% to $13.72. TechnologyOne Ltd (ASX: TNE) shares were barely in the green, up by 0.33% this week to $15.42.

None of these big ASX 200 tech players released any price-sensitive news this week.

Among the smaller tech companies, EML Payments Ltd (ASX: EML) gained 34% this week. This was largely due to news that EML will close its PFS Card Services Ireland Limited (PCSIL) segment as recommended by the reconstituted board of PCSIL. EML shares closed on Friday at $1, up 9.9% for the day.

DroneShield Ltd (ASX: DRO) shares flew 4.05% higher this week to close at 39 cents on Friday. The company reported a maiden before-tax profit this week of $4 million. This compares to a $2.9 million loss in 2022.

By the way, if you’re curious to know the best-performing ASX tech shares of 2023, click here.

ASX 200 market sector snapshot

Here’s how the 11 market sectors stacked up this week, according to CommSec data.

Over the past five days:

S&P/ASX 200 market sector	Change this week
Information Technology (ASX: XIJ)	2.85%
Consumer Discretionary (ASX: XDJ)	1.15%
Financials (ASX: XFJ)	0.46%
Communication (ASX: XTJ)	0.19%
Energy (ASX: XEJ)	(0.46%)
Healthcare (ASX: XHJ)	(0.48%)
Consumer Staples (ASX: XSJ)	(0.51%)
Industrials (ASX: XNJ)	(1.6%)
Utilities (ASX: XUJ)	(2.51%)
A-REIT (ASX: XPJ)	(2.76%)
Materials (ASX: XMJ)	(3.72%)

The post Here’s how the ASX 200 market sectors stacked up this week appeared first on The Motley Fool Australia.

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More reading

• Here are the top 10 ASX 200 shares today
• Why EML, Jumbo, Mesoblast, and Whitehaven Coal shares are jumping today
• 5 things to watch on the ASX 200 on Friday
• Here are the top 10 ASX 200 shares today
• Better AI stock: Microsoft vs. Amazon

Motley Fool contributor Bronwyn Allen 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 Altium, Apple, DroneShield, EML Payments, Microsoft, Technology One, WiseTech Global, and Xero. The Motley Fool Australia has positions in and has recommended WiseTech Global and Xero. The Motley Fool Australia has recommended Apple, DroneShield, and Technology One. 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 post Here are the top 10 ASX 200 shares today appeared first on The Motley Fool Australia.

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More reading

• Why EML, Jumbo, Mesoblast, and Whitehaven Coal shares are jumping today
• Why are Whitehaven Coal shares racing 7% higher on Friday?
• 5 things to watch on the ASX 200 on Friday
• Here are the top 10 ASX 200 shares today
• These ASX 200 shares just hit new 52-week highs

Motley Fool contributor Sebastian Bowen has positions in A2 Milk. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Lottery, Nanosonics, PEXA Group, Pro Medicus, and Xero. The Motley Fool Australia has positions in and has recommended Nanosonics and Xero. The Motley Fool Australia has recommended A2 Milk and Pro Medicus. 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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There are a large number of ASX dividend stocks to choose from on the Australian share market.

But which ones could be buys right now?

Three that have been given the thumbs up by brokers are listed below. Here’s what they are forecasting from them:

Baby Bunting Group Ltd (ASX: BBN)

The first ASX dividend stock that could be a buy for income investors is baby products retailer Baby Bunting.

The team at Morgans is feeling upbeat about the company’s outlook after a couple of years of struggles. In fact, it sees a return to growth on the horizon.

For example, it is forecasting fully franked dividends per share of 9.5 cents in FY 2024 and then 12.4 cents in FY 2025. Based on the current Baby Bunting share price of $1.82, this will mean dividend yields of 5.2% and 6.8%, respectively.

Morgans has an add rating and $2.50 price target on its shares.

Centuria Industrial REIT (ASX: CIP)

Another ASX dividend stock that has been given the thumbs up by analysts is Centuria Industrial.

It is largest domestic pure play industrial REIT with a 91% weighting to Australia’s high performing eastern seaboard industrial markets.

Macquarie is a fan of the company and is forecasting a result slightly ahead of guidance in FY 2024.

It expects this to underpin dividends per share of 16 cents in FY 2024 and 16.5 cents in FY 2025. Based on the current Centuria Industrial share price of $3.09, this represents yields of 5.2% and 5.3%, respectively.

The broker has an outperform rating and $3.41 price target on its shares.

Orora Ltd (ASX: ORA)

Finally, Goldman Sachs think this packaging company would be a good ASX dividend stock to buy.

The broker likes that Orora’s base business has defensive qualities and is positive on growth capital investments. In addition, it feels the current market implied valuation of the Saverglass business provides a favourable risk-reward skew.

As for income, its analysts are forecasting dividends per share of 14 cents in FY 2024, 15 cents in FY 2025, and 16 cents in FY 2026. Based on the current Orora share price of $2.63, this will mean yields of 5.3%, 5.7%, and 6.1%, respectively.

Goldman has a buy rating and $3.50 price target on its shares.

The post Analysts say these 3 ASX dividend stocks are buys with big yields appeared first on The Motley Fool Australia.

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More reading

• 3 ASX dividend stocks to boost your income portfolio in 2024
• Here are the top 10 ASX 200 shares today
• Buy Coles and these ASX dividend stocks
• These ASX dividend stocks could be buys this month
• Where I’d invest $3,000 into ASX dividend shares in January

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

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ASX All Ords healthcare share Imugene Limited (ASX: IMU) is up 10% on Friday to 11 cents.

The share price bump follows another update from the clinical-stage immuno‐oncology biotech company, which is developing virotherapies to treat and kill cancer.

What news does this ASX All Ords biotech have today?

On Friday, Imugene released a second update for the week on its Phase 1 MAST (Metastatic Advanced Solid Tumours) trial.

The trial is evaluating the safety and efficacy of Imugene’s novel cancer-killing virus CF33-hNIS (Vaxinia).

Today we learned that the first patients in the Phase 1 study’s higher dose cohort have received their dose.

On Wednesday, the ASX All Ords company reported early positive signals in the trial, which sent its share price soaring 14%.

Imugene said 38 patients had been dosed with Vaxinia during the continuing dose escalation phase.

Of them, 31 had undergone their first scans after 42 days to see the results.

In the IT cohorts comprising 14 patients, seven of the 15 cancer lesions injected with Vaxinia had reduced in size, and three were eradicated.

The CEO of Imugene, Leslie Chong, said:

Following the positive news on VAXINIA’s early signals and FDA Fast Track Designation to end 2023, we are pleased to start the new year by announcing the ongoing progress of the MAST trial as we continue to see no safety issues with the drug.

We also look forward to expanding the trial to take a closer look at bile duct cancer where we’ve seen early encouraging results.

Imugene gave a poster presentation on Vaxinia for the treatment of gastrointestinal (GI) malignancies at the annual ASCO Gastrointestinal Cancers Symposium (ASCO-GI) in San Francisco, California today.

The presentation contained preliminary data from the first three dose levels in the MAST study.

The company said the data demonstrated encouraging anti-tumor activity with Vaxinia monotherapy.

This included one patient who achieved an immunological complete response with no known recurrence after one year.

Imugene told attendees that Vaxinia “may be an effective and safe treatment option for GI malignancies …”.

The company also said Vaxinia warrants further investigation in biliary tract cancer patients.

Imugene share price snapshot

This ASX All Ords healthcare share has fallen 33% over the past 12 months.

Over the same time period, the S&P/ASX 200 Health Care Index (ASX: XHJ) has retreated 1.23%.

The post This ASX All Ords healthcare share is leaping 10% on cancer-killing drug trial progress appeared first on The Motley Fool Australia.

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More reading

• Why Data#3, Deep Yellow, DroneShield, and Imugene shares are racing higher today
• Why is ASX 300 healthcare stock Imugene jumping 14% today?

Motley Fool contributor Bronwyn Allen 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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