Category: Stock Market

On Tuesday, the S&P/ASX 200 Index (ASX: XJO) ended its winning streak with a small decline. The benchmark fell 0.3% to 7,131 points.

Will the market be able to bounce back from this on Wednesday? Here are five things to watch:

ASX 200 expected to rebound

The Australian share market looks set to rebound on Wednesday following a solid night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 27 points or 0.4% higher this morning. In late trade on Wall Street, the Dow Jones is up 0.4%, the S&P 500 is up 0.55%, and the Nasdaq is 0.8% higher.

Oil prices rise

It could be a good day for energy producers Beach Energy Ltd (ASX: BPT) and Woodside Energy Group Ltd (ASX: WDS) after a decent night for oil prices. According to Bloomberg, the WTI crude oil price is up 1.4% to US$75.68 a barrel and the Brent crude oil price has risen 1.25% to US$80.65 a barrel. Optimism over Chinese demand boosted prices.

Norwest rejects MinRes takeover

After the market close on Tuesday, Mineral Resources Ltd (ASX: MIN) was dealt a blow in its quest to acquire Norwest Energy NL (ASX: NWE). Norwest has released its target statement and advised that its directors unanimously recommend that shareholders reject the offer. Mineral Resources has offered one share for every 1,367 Norwest shares. This currently values the offer at 6.2 cents per share.

Iron ore price rises

It could be a positive session for mining giants BHP Group Ltd (ASX: BHP) and Rio Tinto Ltd (ASX: RIO) on Wednesday after the iron ore price charged higher. The steel-making ingredient is up 3.1% to US$121.95 a tonne amid hopes that China’s reopening will lead to an increase in demand for the base metal.

Gold price edges higher

Gold miners Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) will be on watch after the gold price edged higher overnight. According to CNBC, the spot gold price is up 0.1% to US$1,879.7 an ounce. Gold is trading near a new eight-month high.

The post 5 things to watch on the ASX 200 on Wednesday appeared first on The Motley Fool Australia.

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More reading

• Broker reveals ASX 200 share with earnings expected to halve
• Here are the top 10 ASX 200 shares today
• Here are the 3 most heavily traded ASX 200 shares on Tuesday
• These 3 ASX 200 lithium shares outperformed all others in 2022
• My 3 best ASX shares of 2022 – and why I think they’ll win again in 2023

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.

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Two ASX 300 retail shares are a buy but another may fall slightly, according to analysts at Macquarie.

The broker rates Lovisa Holdings Ltd (ASX: LOV) and Premier Investments Ltd (ASX: PMV) as buys, while City Chic Collective Ltd (ASX: CCX) is rated neutral.

Let’s take a look at the outlook for these three ASX retail shares.

Will retail shares bounce back?

Macquarie analysts have placed an outperform rating on the Lovisa share price with a $27 price target. It also rates Premier Investments as outperform with a $29 price target. Premier Investments has a portfolio of retail brands including Portmans, Just Jeans, and Peter Alexander.

The Macquarie team likes retailers with scale, strong balance sheets, and market-leading brands, with youth consumers well positioned in today’s economic environment, the Australian Financial Review reported.

Lovisa shares fell 0.29% on Tuesday to close at $24.21 each. Macquarie’s price target of $27 implies an upside of 11.5%. In November, Lovisa reported global store sales in the first 19 weeks of FY23 to date were up 16.1% on FY22. The company also reported it had opened 47 new stores.

Premier Investments shares dropped 5.19% on Tuesday to close at $24.85. Macquarie’s price target of $29 implies a 16.7% upside based on the current share price.

In early December, the company reported global sales in the first 17 weeks of 1H23 had soared 24.9% compared to pre-Covid 1H20 sales. The company also reported record sales during the Black Friday trading week.

However, looking at the bigger picture for retail, analysts at Macquarie are concerned about online sales traffic in the current economic environment, commenting (courtesy of AFR):

December website traffic data remains weak as retailers continue to cycle tough COVID comps. Online activity continues to moderate from elevated levels seen over CY20-21.

With this in mind, Macquarie has placed a neutral rating on City Chic Collective with a 42-cent price target, noting the company’s website traffic fell 8.9% in the “first weeks of December”, the publication reported.

City Chic shares fell 3.37% in Tuesday’s trade to close at 43 cents apiece. On 20 December, City Chic reported global year-to-date revenue was down about 7% compared to the prior corresponding period. However, it was up 38% on FY21.

Meanwhile, the latest ANZ-Roy Morgan Consumer Confidence data, released today, shows consumer confidence lifted 4.9 points last week to 87.4. ANZ senior economist Adelaide Timbrell said:

This was the first new year’s jump in confidence since 2018.

Share price snapshot

The Lovisa share price has soared nearly 32% in the last year.

Premier Investments shares have declined 11% in the past 52 weeks.

Citi Chic Collective shares have plunged 91% in the past year.

The post 2 ASX 300 retail shares to buy right now, and one to avoid: Macquarie appeared first on The Motley Fool Australia.

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More reading

• Why Brainchip, IAG, Premier Investments, and Telix shares are sinking today
• 5 things to watch on the ASX 200 on Tuesday
• 2 excellent ASX growth shares that analysts say are buys in January
• Should you buy Premier Investments shares before they trade ex-dividend next week?
• Leading brokers name 3 ASX shares to buy today

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 positions in and has recommended Lovisa. The Motley Fool Australia has recommended Lovisa and Premier Investments. 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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Many blue chip companies are trading on what would be considered ‘cheap’ earnings multiples following a tough year for S&P/ASX 200 Index (ASX: XJO) shares.

Nealy 15% of companies included in the Aussie benchmark index now have a price-to-earnings (P/E) ratio below 10. However, one broker is concerned that there is possibly a good reason for the steep discount on a staple of the materials industry.

Holding the title of the second-lowest P/E ratio in the benchmark — at 3.1 times earnings — shares in BlueScope Steel Limited (ASX: BSL) might look like a golden opportunity. Though, the team at Ord Minnett begs to differ based on its forecasts.

Tailwinds fade in a slowing economy

Share market investors and a single-digit P/E ratio can be like moths to a flame. The attraction is in the chance of investing in a company that is potentially mispriced. This strategy falls apart when the underlying fundamentals continue to erode, resulting in what is called a ‘value trap‘.

According to the analysts at Ord Minnett, BlueScope Steel might have the makings of a value trap right now. This is largely based on their estimates that the steel giant will experience significant reductions in its earnings this year and through to FY25.

Specifically, Ord Minnett analysts expect that rising interest rates will squash steel demand. This paired with the absence of monetary stimulus and an easing of supply disruptions will see BlueScope earnings fall off a cliff.

In FY23, the team forecast BlueScope’s earnings before interest and tax (EBIT) to fall from $3.79 billion to $1.6 billion. From there, EBIT is expected to slide further — descending to $1 billion by FY25.

Commenting on the forecasted future direction of BlueScope earnings, the Ord Minnett team wrote:

We do not believe this negative earnings profile is reflected in BlueScope Steel’s stock price, trading at a premium of more than 20 per cent to our fair value estimate.

In December, Fitch Ratings revealed its expectations for metals prices across the world to weaken in 2023. Likewise, a mill source informed S&P Global Commodity Insights of their view of further weakness, stating:

China’s steel demand is likely to continue falling in 2023 due to slowed demand both home and abroad, so the commissioning of these new steel projects will put a lot of pressure on the market trends, if most steel makers do not put their production under control.

Where could this ASX 200 share end up?

The BlueScope Steel share price has already fallen by 18.4% over the last year, but Ord Minnett anticipates further downside.

In light of forecasts for its earnings to more than halve, the team has set its price target on this ASX 200 share to $13 per share. This would suggest there’s still another 26.5% worth of space left for BlueScope to tumble from its current $17.69 position.

The steel giant’s 52-week low is $14.74.

The post Broker reveals ASX 200 share with earnings expected to halve appeared first on The Motley Fool Australia.

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More reading

• Here are the top 10 ASX 200 shares today
• Here are the 3 most heavily traded ASX 200 shares on Tuesday
• These 3 ASX 200 lithium shares outperformed all others in 2022
• My 3 best ASX shares of 2022 – and why I think they’ll win again in 2023
• Starting 2023 with no savings? I’d follow Warren Buffett and start building wealth

Motley Fool contributor Mitchell Lawler has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has 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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It’s been a rather crazy time for the Arafura Rare Earths Ltd (ASX: ARU) share price of late. Back at the start of November, Arafura shares were going for 30 cents each. But by New Year’s Eve, Arafura shares were 47 cents each, up more than 56% from where they were just two months prior.

But let’s talk about the past week. Arafura has been on a bit of a rollercoaster. Just last Thursday, we saw Arafura at 45 cents a share. But Friday saw an astonishing run-up for this company, with Arafuras share climbing more than 13%.

Yesterday, the company rose another 7.8% to hit a new 52-week high of 56 cents per share at one point. Not only was that a new 52-week high, but it was also the highest Arafura share price has been at in more than 10 years. So between 6 and 9 January, Arafura shares climbed more than 22%.

But by the end of today’s trading session, this story added a new, and rather different, chapter. The Arafura share price crashed today, no way around it. The company opened at its new 52-week (and decade) high of 56 cents per share but quickly started falling. By the end of today’s session, Arafura had closed down 9.09% at 50 cents a share.

So what on earth is going on here?

Why has the Arafura share price been on such a wild ride in 2023?

Well, the first thing to note is that there hasn’t been any fresh news out of Arafura. However, the company did announce the results of its share purchase plan last week.

But since then, all we have gotten out of the company has been routine paperwork announcements, mostly concerning this share purchase plan. So we can probably rule this out in explaining the wild volatility we have seen with the company’s shares.

It is worth mentioning that most companies in or around Arafura’s wheelhouse also had pretty awful days today. Lynas Rare Earths Ltd (ASX: LYC) shares fell by a nasty 3.75%. And lithium shares like Core Lithium Ltd (ASX: CXO) and Pilbara Minerals Ltd (ASX: PLS) also fell, with Core Lithium copping a 5% slide.

So perhaps investors, after enjoying such a strong run over 2023 thus far, have chosen today to take their profits off the table en masse. It’s rather unusual for an ASX share to gain 20% over just a couple of days. Investors know this, and it is conceivable that many decided to try and get out rather than see what the next week holds.

This might be the most likely explanation as to why the Arafura Rare Earths share price had such a clanger today. Even so, the company remains up more than 10% in 2023 so far as at today’s closing share price.

The post Arafura share price hits 10-year high then crashes 10%! What’s going on? appeared first on The Motley Fool Australia.

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More reading

• 23 ASX shares to buy in 2023 – brokers
• Arafura Rare Earths share price rebounds strongly after dumping 17% in 5 days
• Why Argosy Minerals, Arafura, Deep Yellow, and Pro Medicus shares are charging higher
• Why did the Arafura Rare Earths share price dive 9% on Tuesday?
• Why Appen, Arafura, Aurizon, and Star shares are sinking today

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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The S&P/ASX 200 Index (ASX: XJO) broke a four-session winning streak on Tuesday, falling 0.28% to close at 7,131 points.

Most of the ASX 200’s 11 sectors closed lower today, with only the S&P/ASX 200 Communications Index (ASX: XTJ) and the S&P/ASX 200 Consumer Discretionary Index (ASX: XDJ) posting notable gains. They each rose around 0.2%.

The latter may have been bolstered by new data from the Australian Bureau of Statistics, finding Aussie households’ discretionary spending was 6.3% higher in November 2022 than in the same month of 2021.

Spending on consumer staples also lifted 17.1%, while spending on goods and services lifted 1.2% and 24% respectively.

Meanwhile, the S&P/ASX 200 Energy Index (ASX: XJO) fell 0.3% today despite oil prices rising around 1.3% overnight.

The S&P/ASX 200 Materials Index (ASX: XMJ) also fell 0.5%, weighed down by lithium and gold shares.

Still, there were plenty of gains on the ASX 200 on Tuesday. Let’s look at the top 10.

Top 10 ASX 200 shares countdown

Today’s top-performing ASX 200 share was Boral Limited (ASX: BLD).

It posted a 2.6% gain despite no news having been released by the building products and construction materials provider.

These shares made today’s biggest gains:

ASX-listed company	Share price	Price change
Boral Limited (ASX: BLD)	$3.10	2.65%
Aristocrat Leisure Limited (ASX: ALL)	$32.06	2.2%
Lottery Corporation Ltd (ASX: TLC)	$4.72	1.94%
Carsales.com Ltd (ASX: CAR)	$21.28	1.92%
Domain Holdings Australia Ltd (ASX: DHG)	$2.78	1.83%
ResMed Inc (ASX: RMD)	$30.57	1.7%
Incitec Pivot Ltd (ASX: IPL)	$3.78	1.61%
Lendlease Group (ASX: LLC)	$8.03	1.39%
REA Group Limited (ASX: REA)	$112.83	1.39%
Nanosonics Ltd (ASX: NAN)	$4.43	1.37%

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

• Here are the 3 most heavily traded ASX 200 shares on Tuesday
• These 3 ASX 200 lithium shares outperformed all others in 2022
• My 3 best ASX shares of 2022 – and why I think they’ll win again in 2023
• Starting 2023 with no savings? I’d follow Warren Buffett and start building wealth
• Why 2023’s stock market could offer me once-in-a-generation returns

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Nanosonics and ResMed. The Motley Fool Australia has positions in and has recommended Nanosonics and ResMed. The Motley Fool Australia has recommended Carsales.com and REA Group. 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) travel share sector has seen plenty of bumps over the past three years. Demand is steadily recovering as the pandemic’s impact wears off. But, a change in China’s COVID-19 settings could be a particularly helpful boost to the industry.

There are a number of different travel names on the ASX including Corporate Travel Management Ltd (ASX: CTD), Qantas Airways Limited (ASX: QAN), Flight Centre Travel Group Ltd (ASX: FLT) and Webjet Limited (ASX: WEB).

Chinese travellers to drive ASX travel shares higher?

According to reporting by CNBC, Australia could be about to benefit from Chinese travellers returning to the country,

JPMorgan’s chief investment strategist Tom Kenney said:

China’s shift toward an earlier reopening raises the question of potential implications for the Australian economy.

The largest potential upside from reopening itself sits within the services sector given China is the largest consumer of Australian tourism and education exports.

Our expectation is for the tourism-related consumption impulse to be spread over 2023 and 2024.

While the duration adjusted spending numbers are less striking, real GDP is an aggregate concept and so the absence of Chinese tourism has been a notable headwind

A full recovery of Australian tourism could add 0.5 percentage points to the GDP, while the return of international students from China could add another 0.4 percentage points. In total this might add around 1% to Australian GDP. This could be a nice boost for ASX 200 travel shares.

CNBC noted that in 2019, Chinese arrivals accounted for 15.3% of Australia’s inbound tourism – it was the largest source of short-term visitors.

But, Australian Bureau of Statistics (ABS) data showed that a total of 430,470 short-term trips were made to Australia in October – this data was released in December. This total number of trips was 44% lower than the same level in 2019, according to CNBC.

Could this be a benefit?

It certainly could. Different ASX 200 travel shares have varying levels of exposure to Chinese travellers.

But, the more mobile Chinese tourists and business people become, the more likely they are to use a Qantas plane, an ASX-owned travel agent or use ASX-listed corporate travel services.

In the Qantas market update during mid-October 2022, the company said that group domestic capacity will be 94% of pre-COVID levels in the FY23 first half, growing to around 100% for the second half. International capacity is expected to increase from 61% of pre-COVID levels in the FY23 first half to 77% in the second half.

In other words, Qantas’ international capacity is still materially below pre-COVID times with some of those travel routes not seeing the same demand as before. A return of Chinese visitors could go some way to closing that gap.

The post Could ASX 200 travel shares be set for a major boost in 2023? appeared first on The Motley Fool Australia.

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More reading

• Should I buy Flight Centre shares for spectacular dividend growth?
• Will Qantas shares pay a dividend in 2023?
• Here are the 10 most shorted ASX shares
• Top brokers name 3 ASX shares to buy next week
• Qantas stock: Is it a good ASX 200 investment for 2023?

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 recommended Corporate Travel Management and Flight Centre Travel Group. 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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If you’re wanting to invest but aren’t sure which shares to buy, then ETFs could be a good option. This is because ETFs allow you to buy a large number of shares through a single investment.

With that in mind, listed below are two top ETFs that could be good options for investors in 2023. Here’s what you need to know about them:

BetaShares Global Energy Companies ETF (ASX: FUEL)

The first ETF for investors to look at is the BetaShares Global Energy Companies ETF.

With one hedge fund trader tipping oil prices to surge as much as 90% in 2023, as covered here, gaining exposure to the energy sector could prove to be a good thing for a portfolio.

Investors can achieve this with the BetaShares Global Energy Companies ETF, which allows investors to own a slice of some of the biggest energy companies in the world.

Among the ETF’s holdings are energy giants BP, Chevron, ConocoPhillips, ExxonMobil, Phillips 66, Royal Dutch Shell, and Total.

iShares Global Consumer Staples ETF (ASX: IXI)

Another ETF for investors to look at in 2023 is the iShares Global Consumer Staples ETF.

The iShares Global Consumer Staples ETF gives investors access to the world’s leading consumer staples companies. These are the companies that produce or sell essential everyday products such as food, tobacco, and household items.

The good thing about these products is that demand remains relatively consistent whatever is happening in the economy. This could make it a top option if you’re concerned that the cost of living crisis could put a dent in consumer spending this year.

Among its holdings are household names including Coca-Cola, Coles Group Ltd (ASX: COL), Colgate-Palmolive, Diageo, L’Oreal, Mondelez, Nestle, PepsiCo, Procter & Gamble, Unilever, Walmart, and Woolworths Group Ltd (ASX: WOW).

The post Why these could be the ASX ETFs to buy in 2023 appeared first on The Motley Fool Australia.

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More reading

• Here are the 3 best-performing ASX ETFs of 2022
• Top ASX shares to buy in January 2023

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 iShares International Equity ETFs – iShares Global Consumer Staples ETF. 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 been a down day for the S&P/ASX 200 Index (ASX: XJO) so far this Tuesday. After starting the week off on a positive note yesterday, the ASX 200 is in retreat today.

At the time of writing, the index has slipped by a mild 0.33%, leaving the ASX 200 at just under 7,130 points.

But time now to dive deeper into these market losses. So let’s check out the shares currently at the peak of the ASX 200’s share trading volume charts, according to investing.com.

The 3 most traded ASX 200 shares by volume this Tuesday

South32 Ltd (ASX: S32)

First up today is the ASX 200 resources share South32. So far this Tuesday, a notable 9.7 million South32 shares have been dug up and sold. There have been no fresh announcements from the company today that might explain this volume.

So we can probably assume it comes down to the movements of the South32 share price itself. It’s been a pretty decent day for investors, with South32 putting on a robust 181% to $4.49 a share.

Core Lithium Ltd (ASX: CXO)

Next up we have ASX 200 lithium share Core Lithium. A chunky 15.53 million Core Lithium shares have been exchanged on the ASX boards so far this session.

After yesterday’s stellar gains, the Core Lithium share price is in full retreat today. At present, this lithium producer has lost a painful 5.4% and is down to $1.14 a share. It’s this large fall that is almost certainly behind the substantial volumes we are witnessing.

Pilbara Minerals Ltd (ASX: PLS)

Third and finally this Tuesday, we have another ASX 200 lithium share in Pilbara Minerals, with a whopping 16.65 million shares traded.

There’s been no recent news out of Pilbara. So again, we have to assume that its chart-topping presence today is the result of the movement of the company’s shares themselves. Pilbara has had a very bouncy day indeed.

The company started out strong this morning, rising as high as $4.13 by midmorning (up almost 5%). But investors seemed to get second thoughts this afternoon and sent Pilbara back down the mountain. At present, the company is nursing a 1.53% loss at $3.87 a share. No wonder so many shares have been flying around today.

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

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More reading

• These 3 ASX 200 lithium shares outperformed all others in 2022
• Could higher global EV sales boost ASX 200 lithium shares?
• Down 11% in a month, should I buy the dip in Pilbara Minerals shares?
• My 3 best ASX shares of 2022 – and why I think they’ll win again in 2023
• Starting 2023 with no savings? I’d follow Warren Buffett and start building wealth

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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The S&P/ASX 200 Index (ASX: XJO) had a rough trot in 2022, but these lithium shares were on fire.

That’s despite multiple notable lithium sell-offs occurring over the course of the year. Readers might remember the massive tumble suffered by market favourites in June, seemingly spurred by Goldman Sachs’ bearish outlook for the battery-making material.

Ultimately, though, most lithium stocks managed to regain their losses, and then some, amid the material’s soaring price. Indeed, one gained a whopping 73% over the course of 2022.

Meanwhile, the ASX 200 dumped more than 5% last year while the S&P/ASX 200 Materials Index (ASX: XMJ) rose around 5%.

So, without further ado, here are the three ASX 200 lithium shares that posted the biggest gains in 2022.

2022’s top-performing ASX 200 lithium shares

Taking out the top spot was none other than Core Lithium Ltd (ASX: CXO).

The company certainly proved popular among ASX investors – they bid the stock 73% higher over the year to 31 December, ending 2022 at $1.02.

Core Lithium announced the maiden lithium shipment from its flagship Finniss Project had set sail shortly after 2023 began. The project’s first spodumene concentrate production is expected to occur this half.

The next best performer was Sayona Mining Ltd (ASX: SYA). It gained a whopping 46% last year to reach 19 cents.

But for most of the year, the company’s inclusion in this list looked unlikely. The lithium share wasn’t added to the ASX 200 until September.

But now it’s here, and the future looks bright. The company is expecting to restart production at its North American Lithium operation in the current quarter.

Taking out third place are shares in ASX 200 giant Mineral Resources Ltd (ASX: MIN).

Stock in the miner and mining services provider surged 38% to reach $77.20 over the course of 2022.

Mineral Resources restructured its business last year, shaping it into four pillars: mining services, iron ore, energy, and lithium.

It later hit headlines amid rumours the company was to spin out its lithium segment – believed to be behind at least 50% of its value.

The post These 3 ASX 200 lithium shares outperformed all others in 2022 appeared first on The Motley Fool Australia.

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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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2023 has been kind to the Flight Centre Travel Group Ltd (ASX: FLT) share price so far. Since the start of 2023, Flight Centre shares are up a healthy 6.05%. Since October last year, investors have now enjoyed share price gains worth more than 9%. But you know what hasn’t come alongside those gains? Dividends.

Flight Centre used to be a solid ASX dividend share. But this company hasn’t paid a dividend for almost three years now, since the start of the COVID-19 pandemic to be exact.

So are the dividends coming back to Flight Centre shareholders anytime soon? Or is this company’s dividend days behind it?

When will Flight Centre shares start paying dividends again?

Well, before a company can afford a dividend, it first has to get back to profitability. And Flight Centre hasn’t managed to get back in the black since the pandemic began.

Its full-year earnings for FY2022 which were delivered in August last year revealed a statutory loss before tax of $377.8 million, despite a massive surge in revenue. Now that was a 37% improvement on the prior year, but not enough to start filling the Flight Centre coffers for a dividend.

Saying that, a November trading update from the company asserted that the company had broken even on an underlying profit before tax basis. So things certainly seem to be moving in the right direction.

This could be compounded by China’s reopening. The country has just sensationally relaxed its strict ‘pre-COVID’ policies which have kept it shut out from the rest of the world for the past three years.

Recent reporting from CNBC estimates that a fully reopened China could add close to 1% to Australia’s economy, mostly through tourism. That’s more good news for Flight Centre.

Last year, ASX broker Goldman Sachs estimated that Flight Centre would hold off on the dividends over FY2023, but might finally bring home the bacon in FY2024. If that does happen, Flight Centre shareholders would finally get their dividends back.

But I wouldn’t expect a dime of dividend income from Flight Centre shares until its profits are sustainably back in the black.

The post Should I buy Flight Centre shares for spectacular dividend growth? appeared first on The Motley Fool Australia.

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More reading

• Here are the 10 most shorted ASX shares
• The Flight Centre share price nosedived 18% in 2022. Is it preparing for take-off in 2023?
• Here are the 10 most shorted ASX shares
• Are Flight Centre shares trading at a New Year discount?
• Why is the Flight Centre share price in the red today?

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 recommended Flight Centre Travel Group. 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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