Category: Stock Market

ANZ Group Holdings Ltd (ASX: ANZ) shares have slipped into the red in the last month, but could better days be ahead?

ANZ shares have descended 3% since market close on 3 March and are currently fetching $23.11. In today’s trade, ANZ shares are falling 0.43%. For perspective, the S&P/ASX 200 Index (ASX: XJO) is down 0.048% at last look.

Let’s take a look at the outlook for the ANZ share price.

Are recent bank collapses overseas a positive?

Global markets were rocked in March by news of bank collapses, including California’s Silicon Valley Bank. Switzerland bank Credit Suisse also revealed it is facing liquidity issues including “significant deposit and net asset outflows”.

However, despite this news overseas, ANZ is in fact receiving more requests from depositors due to its double-A rating.

ANZ North Asia financial institutions head Annabel Squier, commenting in the Australian Financial Review, said:

We’ve seen a lot of requests come to us in the last couple of weeks because of what’s happened in America and Europe – saying you’re double-A rated, you’re regulated by one of the strictest regulators globally, we want to put our deposits with you.

The likes of Bank of America, JP Morgan, Citibank are flooded with deposits and other regional banks, which is why we’re getting a lot of calls from companies.

ANZ has recently been recommended as a “buy” by the team at Citi with a $29.25 price target. Citi analysts believe ANZ’s earnings are ahead of expectations.

Meanwhile, ANZ has responded to the Australian Competition and Consumer Commission (ACCC)’s preliminary views on its potential acquisition of Suncorp Group Ltd (ASX: SUN).

As my Foolish colleague James reported this morning, the ACCC is seeking more submissions from stakeholders before making a final decision on 12 June.

ANZ today said it welcomes the ACCC’s statement of preliminary views. CEO Shayne Elliot said:

We welcome the detailed work the ACCC is undertaking following ANZ’s application, and we will examine their preliminary views in detail and respond to the matters raised.

When we announced the acquisition, we acknowledged that there would be questions from Government and regulators about the competition aspects of this transaction, and we welcomed that scrutiny. We welcome the further community consultation that will now occur.

ANZ share price snapshot

ANZ shares have slid 14% in the last year but they have climbed 0.61% year to date.

ANZ has a market capitalisation of about $69 billion based on the current share price.

The post Could ANZ shares cash in on the recent international bank collapses? appeared first on The Motley Fool Australia.

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More reading

• ANZ share price higher amid Suncorp Bank takeover news
• Brokers say these ASX dividend shares are buys
• 3 Warren Buffett tips on how to invest in ASX 200 banks
• Why did the ANZ share price crash 7% in March?
• Guess which ASX 200 bank stock UBS says is the most over-priced right now

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 team at Morgans has been busy picking out its best ASX 200 share ideas for April.

These are the shares that its analysts think offer the highest risk-adjusted returns over a 12-month timeframe. They are also supported by a higher-than-average level of confidence.

The first two ASX 200 shares we looked at can be found here. Read on for three more picks:

Endeavour Group Ltd (ASX: EDV)

The first ASX 200 share that Morgans has on its best ideas list this month is drinks company Endeavour. The broker has an add rating and $7.80 price target on its shares. Its analysts like the company due to its leadership position and easing regulatory issues. Morgans commented:

We believe concerns around gaming regulatory changes with the potential introduction of cashless gaming cards in NSW have eased following the Labor election victory given the party’s stance on the issue was less onerous than the Liberals. Notwithstanding external factors, EDV’s underlying business remains strong with a broad network of retail liquor stores/hotel venues, well-known brands (eg, Dan Murphy’s and BWS) and dominant market positions.

Nextdc Ltd (ASX: NXT)

Another ASX 200 share that could be a top option for investors is this data centre operator. Morgans currently has an add rating and $13.00 price target on its shares. The broker believes structural tailwinds will drive strong earnings growth over the coming years. It explained:

Structural demand for cloud and colocation remains incredibly strong. NXT’s new S3 and M3 data centres are now open. Consequently, we expect significant new customer wins over the next six to twelve months (including CSP options being exercised). Sales should drive the share price higher. NXT looks comfortably on-track to generate over $300m of EBITDA in the next three to five years.

Xero Limited (ASX: XRO)

Morgans is bullish on this cloud accounting platform provider and has an add rating and $97.00 price target on its shares. The broker believes recent share price weakness has created a rare buying opportunity for investors. It commented:

XRO is a high quality cash generative business with impressive customer advocacy and duration. Over the last 12 months rising interest rates and competition have made things harder for Xero. However, we see the current shortterm weakness as a rare opportunity to buy a high quality global growth company at a discount to the life time value of its current customer base.

The post Morgans names 3 more of the best ASX 200 shares to buy in April appeared first on The Motley Fool Australia.

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More reading

• 2 excellent ASX 200 shares I’d buy in April (and hold until at least 2030)
• Here are the top 10 ASX 200 shares today
• Top brokers name 3 ASX shares to buy next week
• 3 reasons why I think the Xero share price is a top buy today
• Why brokers tip double-digit gains from the Endeavour share price

Motley Fool contributor James Mickleboro has positions in Nextdc and Xero. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Xero. The Motley Fool Australia has positions in and has recommended Xero. 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 starting to feel like a while since the beaten-up ASX share BWX Ltd (ASX: BWX) has been available for trading on the ASX. That’s because it has been. BWX shares last traded on the share market back on 23 March, almost two weeks ago.

Back then, the company announced a trading halt so that it could “complete its refinancing”, which was first announced to investors last year.

And that’s all we’ve heard from BWX over the past fortnight or so. Well, until yesterday.

BWX shares enter voluntary administration

It appears that the company’s refinancing efforts did not turn out as planned. Yesterday, BWX put out another ASX statement. This confirmed that the company has entered voluntary administration. Here’s some of what the statement had to say:

A range of issues have continued to impact the Australian operations of BWX, including customer destocking and inventory and working capital issues necessitating the Director’s decision to appoint Administrators.

The Directors believe entering Voluntary Administration will help progress the restructuring process already underway with new management at BWX and give the company the best chance of future profitability. The Directors will work with the Administrators to ensure a positive outcome in the Administration, with employees and customers remaining a top priority.

BWX was at pains to state that the company’s operations outside Australia, as well as its recently-acquired Go-To business, are not included in the administration proceedings. However, it was also confirmed that the company’s directors are attempting to find a buyer for BWX’s 50.1% stake in Go-To.

So it’s unclear where BWX and its shares are headed to from here. If the company is able to secure refinancing, it could well find itself back on the ASX. But that might not happen for a while. We’ll just have to wait and see what the company says and does next.

BWX shares last traded at a share price of 20 cents each. That’s down more than 90% from where BWX was a year ago. At that share price, BWX had a market capitalisation of $39 million.

The post Beaten up BWX shares remain halted amid voluntary administration appeared first on The Motley Fool Australia.

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More reading

• Why Aeris Resources, Evolution, Li-S Energy, and Race Oncology shares are charging higher
• 4 ASX 200 shares just upgraded by brokers, one with 18% upside
• Does it make sense to buy Telstra shares at 52-week highs?
• Why Energy Resources, Paradigm, Piedmont Lithum, and Seek shares are dropping today
• Top broker says buy CSL stock while trading on ‘cheapest multiple in a long time’

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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Now could be a great time to buy some S&P/ASX 200 Index (ASX: XJO) materials and industrials shares, if brokers are to be believed.

Analysts have recently taken a fresh look at these companies, coming away with a more positive opinion on their stocks. In fact, one has been tipped to soar 18%.

Let’s take a look at four ASX 200 shares that have been upgraded by brokers this week.

4 ASX 200 shares upgraded by brokers this week

Core Lithium Ltd (ASX: CXO)

First off the bat is ASX 200 battery materials favourite Core Lithium.

This year has been transformative for the company. It saw its maiden lithium shipment sail in January and kicked off spodumene production in February. Such happenings may have turned sentiment in the company’s favour.

Indeed, broker JPMorgan appears more bullish on the stock than it previously was. It upped its outlook for the ASX 200 lithium share to neutral this week, The Australian reports.

ALS Ltd (ASX: ALQ)

Meanwhile, Goldman Sachs has initiated coverage of testing, inspection, certification, and verification services provider ALS.

The broker expects the company to benefit from the ongoing green metals trend, rating it a buy and tipping it to gain 16.2% to reach $12.56.

Seven Group Holdings Ltd (ASX: SVW)

Goldman Sachs has also slapped a buy rating and a $27.90 price target on industrials share Seven Group – representing a potential 17.8% upside.

The investment group holds major stakes in Boral Limited (ASX: BLD), Beach Energy Ltd (ASX: BPT), and Seven West Media Ltd (ASX: SWM).

Iluka Resources Limited (ASX: ILU)

Finally, critical minerals and rare earths minerals developer and producer Iluka Resources has also been the subject of a broker upgrade.

Barrenjoey upped its expectations for the ASX 200 share, The Australian reports. It’s been tipped to gain 9% to trade at $12.

The post 4 ASX 200 shares just upgraded by brokers, one with 18% upside appeared first on The Motley Fool Australia.

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More reading

• Could this further cloud the outlook for ASX 200 lithium shares?
• Leading brokers name 3 ASX shares to buy today
• What on earth happened to the Core Lithium share price in March?
• These are the 10 most shorted ASX shares this week
• 5 things to watch on the ASX 200 on Monday

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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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) has given back its morning gains and slipped into the red. At the time of writing, the benchmark index is down slightly to 7,221.3 points.

Four ASX shares that are falling more than most today are listed below. Here’s why they are dropping:

Energy Resources Of Australia Ltd (ASX: ERA)

The Energy Resources share price is down 10% to 18.5 cents. Investors have been selling this uranium developer’s shares after it announced a $369 million 5 for 1 entitlement offer. The company is aiming to raise the funds at a whopping 90.2% discount of 2 cents per share. The funds will be used partly to support its Ranger Project Area rehabilitation expenditure over the next 12 months.

Paradigm Biopharmaceuticals Ltd (ASX: PAR)

The Paradigm share price is down 6% to $1.35. This morning, this biopharmaceutical company released an update on a phase 2 clinical study of injectable pentosan polysulfate sodium (iPPS). Day 168 data from Paradigm’s trial demonstrates multiple signals that iPPS may slow disease progression in knee osteoarthritis. Some investors may have been looking for stronger data from the trial.

Piedmont Lithium Inc (ASX: PLL)

The Piedmont Lithium share price is down 5.5% to 84 cents. This follows a similarly sharp decline for this lithium miner’s NASDAQ listed shares during overnight trade on Wall Street. This appears to have been driven by broad weakness in the lithium industry.

Seek Ltd (ASX: SEK)

The Seek share price is down 2.5% to $23.62. Investors have been selling this job listings company’s shares after it revealed it would fall short of its revenue guidance in FY 2023 due to continued moderation of job ad volumes. Positively, management expects to still achieve its earnings guidance despite this. It also provided long term revenue guidance ahead of consensus expectations.

The post Why Energy Resources, Paradigm, Piedmont Lithum, and Seek shares are dropping today appeared first on The Motley Fool Australia.

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More reading

• Seek share price sinks 7% on guidance update
• Morgans names the best ASX shares to buy in April
• Why Block, Novonix, Piedmont Lithium, and Syrah shares are racing higher
• Why is the Sayona Mining share price having such a stellar end to the week?
• Piedmont Lithium share price surges 6% on ‘exciting milestone’

Motley Fool contributor James Mickleboro has positions in Seek. 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 Seek. 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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CSL Limited (ASX: CSL) has fallen slightly on the stock market in the last month, but could now be the time to pounce?

CSL shares have descended 0.84% since market close on 4 April and are fetching $290.81 a piece at last look. In today’s trade, CSL shares are 0.03% in the red. For perspective, the S&P/ASX 200 Index (ASX: XJO) is rising 0.01% today.

Let’s take a look at the outlook for CSL stock going forward.

What’s ahead?

CSL is a global biotechnology company that operates a huge plasma collection network along with developing a range of life-saving therapies and vaccines.

CSL is one of multiple “recession-proof” shares according to Airlie Funds Management head of Australian equities Matt Williams.

Williams noted CSL’s collection costs are falling and could go down even more. In quotes provided to The Australian, Williams said:

During Covid, the cost of collecting plasma went up significantly. Those costs are
now reducing and in fact, a recession should actually lead to lower collection costs
because they won‘t have to pay their blood donors as much.

CSL is absolutely in that basket of recession-proof stocks. It‘s trading on a similar
multiple to Woolworths but it’s actually the cheapest multiple I’ve seen it for a long
time.

CSL reported a net profit of US$1.62 billion in the first half of the 2023 financial year. The company noted plasma collections were at record levels.

Meanwhile, the team at Morgans has also recently placed an add rating on CSL shares with a $337.92 price target. This implies an upside of about 16% based on CSL’s current share price.

Analysts are optimistic plasma collections will lift and more people will take the flu vaccine. Morgans said:

A key portfolio holding and key sector pick, we believe CSL is poised to break-out this year, a COVID exit trade, offering double-digit recovery in earnings growth as plasma collections increase, new products get approved and influenza vaccine uptake increases around ongoing concerns about respiratory viruses, with shares offering good value trading around its long-term forward multiple of ~30x.

CSL share price snapshot

The CSL share price has lifted nearly 9% in the last year.

CSL has a market capitalisation of about $140 billion based on the current share price.

The post Top broker says buy CSL stock while trading on ‘cheapest multiple in a long time’ appeared first on The Motley Fool Australia.

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More reading

• Passive income: How much to invest to get $800 per month
• Morgans names the best ASX shares to buy in April
• This ASX share’s halved in 5 years, but I’m still sticking with it
• This ASX 200 giant is about to wake up from a 3-year slumber. Are you ready?
• Fundie loves these 2 ASX 200 shares that are ‘difficult to replicate’

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 CSL. 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 All Ordinaries Index (ASX: XAO) is in the red today – just. The benchmark is down 0.07% right now at 7,411.3. And that performance is being smashed by four ASX All Ords shares, each with big news.

Let’s take a closer look at the updates driving these stocks to market-beating heights on Tuesday.

4 ASX All Ords shares soaring on exciting updates

First up is Race Oncology Ltd (ASX: RAC). The All Ords biotech share is surging 5.18% to trade at $1.93 after the company released market research conducted by a third party.

Life science strategy firm Triangle Insights found Zantrene, the company’s cardio-protective and anti-cancer agent, could boast a market opportunity of up to US$5 billion. The company’s chair Dr John Cullity commented on the report, saying:

The findings have been entirely useful, informing potential treatment scenarios for Zantrene in breast cancer, an area in which we have promising historical data.

Joining the Race Oncology share price in the green is that of Aeris Resources Ltd (ASX: AIS).

The All Ords copper-gold producer announced a maiden mineral resource estimate (MRE) for its Kurrajong deposit this morning. The news has sent its shares 6.6% higher to trade at 70 cents at the time of writing.

The deposit, located within the Tritton tenement package, has an MRE of 2.2 million tonnes at 1.7% copper, including a high-grade massive sulphide lens of 1.1 million tonnes at 2.5% copper.

Another All Ords share posting a whopping gain on Tuesday is Queensland Pacific Metals Ltd (ASX: QPM).

The stock is up 23.8% right now, trading at 13 cents, on news of a collaboration agreement with a group of German companies.

The group has agreed to help advance and supply capital equipment to the All Ords company’s Townsville Energy Chemicals Hub (TECH) project.

Additionally, the ASX company has received a receipt of financing support from two German financial institutions. They’ve confirmed their interest in lending a combined $857 million.

Finally, shares in All Ords gold explorer Predictive Discovery Ltd (ASX: PDI) are soaring today. They’re up 6.25%, trading at 17 cents, on assay results from the company’s Bankan Gold Project.

Managing director Andrew Pardey commented on the findings, saying:

[The company] is working diligently towards completion of a scoping study by the end of 2023 to facilitate permitting in the first half of 2024.

Infill drilling to support further mineral resource upgrades in Q3 2023 is a crucial part of our strategy and will enable [Predictive Discovery] to deliver a robust scoping study based on a significant proportion of indicated mineral resources.

The post 4 ASX All Ords shares smashing the market on big news appeared first on The Motley Fool Australia.

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More reading

• 5 ASX All Ords shares trading ex-dividend this week
• I believe these 2 beaten-up ASX shares are too cheap to ignore in April
• Guess which ASX All Ordinaries stock just crashed 25%
• Leading brokers name 3 ASX shares to buy today
• Why Aeris, Block, Fineos, and Tyro shares are racing higher

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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After a shaky start this morning, the All Ordinaries Index (ASX: XKO) is pushing higher at this point of Tuesday’s trading. At the time of writing, the All Ords has gained a tentative 0.07%, lifting the Index back over 7,420 points. But let’s talk about some ASX All Ords shares that might have a rough week in terms of share price.

When a company trades ex-dividend for an upcoming shareholder payment, we normally see a dip in said company’s share price. That’s because when a company goes ex-dividend, new investors are ineligible to receive the upcoming dividend in question. As such, the shares become notionally less valuable.

So let’s discuss five ASX All Ords shares that will experience this phenomenon this week.

5 ASX All Ords shares going ex-dividend this week

Ridley Corporation Ltd (ASX: RIC)

All Ords agricultural share Ridley Corporation is first up for discussion. This company declared an interim dividend of 4 cents per share, fully franked, back in February. Investors will see this payment arrive in their bank accounts on 24 April later this month. But eligibility for new investors will be shut off when Ridley shares trade ex-dividend tomorrow, 5 April.

Clover Corporation Limited (ASX: CLV)

All Ords nutritional ingredients company Clover Corporation is next up for examination. Clover also has an upcoming dividend in store for investors. The 2023 interim dividend of 0.75 cents per share, fully franked, is coming investors’ way on 27 April this month.

But again, investors will need to be quick if they wish to secure it. That’s because Clover’s ex-dividend date is also set for tomorrow, 5 April.

Imdex Limited (ASX: IMD)

Imdex is another All Ords share that will go ‘ex-div’ this week. In this mining services company’s case, investors can expect to see Imdex’s upcoming interim dividend arrive on 20 April. It will be a payment worth 1.5 cents per share, fully franked. But Imdex is another ASX All Ords share that will trade ex-dividend tomorrow, so time is running out for this one as well.

ARB Corporation Ltd (ASX: ARB)

All Ords provider of off-road equipment and accessories, ARB Corp, is our next share worth checking out. ARB declared an interim dividend of 32 cents per share, fully franked, back in February. Investors will bag this dividend payment later this month on 21 April. But once more, tomorrow is the ex-dividend day for ARB.

Brickworks Limited (ASX: BKW)

All Ords stalwart and construction materials company Brickworks is our final cab off the rank this Tuesday. Last month, Brickworks delighted investors with its announcement that this year’s interim dividend would be the highest the company has ever paid out at 23 cents per share, fully franked.

Unlike the other shares we’ve discussed today, Brickworks’ ex-dividend date for this payment has been set for 6 April (this Thursday). Payment will then arrive in investors’ mailboxes on 2 May next month.

The post 5 ASX All Ords shares trading ex-dividend this week appeared first on The Motley Fool Australia.

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More reading

• 4 ASX All Ords shares smashing the market on big news
• Top ASX shares to buy in April 2023
• Guess which ASX All Ordinaries stock just crashed 25%
• Brokers name 3 ASX shares to buy now
• Here are the top 10 ASX 200 shares 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 positions in and has recommended ARB Corporation, Brickworks, Clover, and Imdex. The Motley Fool Australia has positions in and has recommended Brickworks and Imdex. The Motley Fool Australia has recommended ARB Corporation. 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 Lynas Rare Earths Ltd (ASX: LYC) share price has taken a real beating in 2023.

Since the start of the year, the rare earths producer’s shares have fallen almost 17%.

However, that doesn’t take into account the very strong start to the year that its shares had.

The Lynas share price was up as much as 24% year to date at the end of January. So, from the top, the company’s shares have lost almost a third of their value.

This has been driven largely by comments out of Tesla, which revealed that the electric vehicle giant is planning to stop using rare earths in its vehicles.

In addition, news relating to its Malaysian licence weighed on its shares. That news reveals that its licence has been renewed but will now prohibit the import and processing of lanthanide concentrate after 1 July 2023.

These processes will have to be undertaken at Lynas’ Kalgoorlie Rare Processing Facility once operational.

Is the Lynas share price good value under $7?

Analysts at Bell Potter believe that the recent weakness in the Lynas share price has created a buying opportunity.

So much so, the broker has just upgraded its shares to a buy rating with a trimmed price target of $8.06. This implies potential upside of 23% for investors from current levels.

The broker believes there’s plenty of growth opportunities for the company outside Tesla. It commented:

We argue yes, despite near-term earnings risk perpetuated by the commissioning of Kalgoorlie (and replacement of Malaysia), a weaker near-term NdPr price (on the back of increased Chinese production quotas) and Teslas move to replace rare earth permanent magnets, we believe the recent ~34% sell-off to be largely overdone.

[W]e adjust our production and revenue outlook on a constrained ramp up at Kalgoorlie and lower near-term NdPr prices and adjust for the issue of new securities. Whilst the near-term risks are undeniable, we fundamentally believe LYC to be the sector leader in the Rare-earth space, with a sound balance sheet, multiple long-term growth pathways underpinned by arguably the best rare-earth deposit at Mt Weld.

The post Should I buy Lynas shares while they’re under $7? 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.

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The S&P/ASX 200 Index (ASX: XJO) is climbing 0.07% today, but this ASX lithium stock is absolutely exploding.

The Li-S Energy Ltd (ASX: LIS) share price soared 62.7% from 25.5 cents to 41.5 cents this morning before retreating. The company’s share price is now rising 35% and trading at 34.5 cents.

So why is this ASX lithium stock charging higher today?

What’s going on?

Li-S Energy is developing lithium sulfur and lithium metal batteries for use in electric vehicles (EV).

Today, Li-S Energy advised it has developed new 20-layer battery cells using third generation semi-solid state lithium sulfur technology.

The new battery cells have 45% more volumetric energy density due to lower porosity cathode material.

Li-S Energy is using a low-flammability electrolyte to make the 20-layer cells, making them safer.

Commenting on the news, Li-S Energy CEO Lee Finniear said:

The development of these new battery cells is another validation of the strength of our
scientific and technical teams, and our collaboration with Deakin University and other
Australian and international institutions.

This outcome demonstrates the strength of our progress over the last year. In the coming months we look forward to commencing the production of commercial samples for our partners.

Li-S Energy share price snapshot

The Li-S Energy share price has fallen 58% in the last year. In the year to date, the company’s share price has risen 8%.

For perspective, the ASX 200 has fallen 3.8% in the past year and climbed 2.7% in the year to date.

This ASX lithium stock has a market capitalisation of about $57 million based on the current share price.

The post Guess which ASX lithium stock just rocketed 60% appeared first on The Motley Fool Australia.

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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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