Category: Stock Market

The Core Lithium Ltd (ASX: CXO) share price may have been on form on Thursday but that wasn’t the case in September.

This lithium miner’s shares were well and truly out of form last month and shed 20.7% of their value.

This was very disappointing given that Core Lithium’s shares were up as much as 19% month to date at one stage.

What happened to the Core Lithium share price in September?

Investors were selling down the Core Lithium share price in the latter half of last month amid broad weakness in the lithium industry.

This saw the likes of Lake Resources N.L. (ASX: LKE) and Sayona Mining Ltd (ASX: SYA) also record sizeable declines.

The catalyst for this was investors selling higher risk investments like lithium shares after market volatility surged and stocks crashed due to concerns that rising interest rates could cause a global recession.

Is this a buying opportunity for investors?

The team at Macquarie is likely to see the recent weakness in the Core Lithium share price as a buying opportunity.

According to a note this week, the broker has retained its outperform rating with a price target of $1.70.

So, with Core Lithium’s shares currently changing hands for $1.16, this implies potential upside of almost 47% for investors over the next 12 months.

Macquarie believes that Core Lithium is well-placed to benefit from sky high lithium prices. Particularly given its recent $100 million equity raising, which will be used to accelerate its growth.

The post Why did the Core Lithium share price fall off a cliff in September? appeared first on The Motley Fool Australia.

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More reading

• Top brokers name 3 ASX shares to buy today
• Here are the top 10 ASX 200 shares today
• Government tips Aussie lithium exports to surge 180%. Which ASX shares are in on the action?
• Why is the Core Lithium share price surging 7% today?
• Why are ASX 200 lithium stocks having such a stellar run on Tuesday?

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 battery metals trade continues to extend its legs in 2022, with lithium carbonate still trading at all-time highs of A$109,786 per tonne on Thursday.

This continues a strong rally that started back in May, alongside several ASX lithium shares which have participated in the growth story.

Demand-supply mismatch still key growth driver

Chief to the upside in lithium pricing over the past two years is the asymmetry in demand for electric vehicles (EVs) and the supply of battery metals to fulfil this mandate.

Recent government policy in both China and the USA – two of the largest EV markets – also supports the buying of EVs, and this has spurred additional growth for the sector in 2022.

As such, there’s a significant mismatch in the demand-supply equation for battery metals, and this places ASX lithium producers front and centre to capitalise on the opportunity.

The chart below shows the returns of Pilbara Minerals Ltd (ASX: PLS), Allkem Ltd (ASX: AKE), Sayona Mining Ltd (ASX: SYA), and Lake Resources NL (ASX: LKE).

As seen, the price action for the ‘basket’ has been cyclical over the past 12 months, responding well to each major upshift in the lithium price.

Whereas other commodity baskets have receded to pre-pandemic levels, the market pricing for lithium has seen these key ASX players catch a strong bid since July.

It is this kind of market strength that continues to result in ongoing investment in the lithium sector.

For instance, today, Lake Resources announced that WMC Energy has obtained a strategic 10% stake in the company for a $1.20 per share consideration.

Aside from the investment, the deal also includes an offtake agreement with Lake at its Kachi Project, in Argentina.

The news was a good result for the ASX lithium share, which finished up 2% on the day following the announcement.

Meantime, each of the ASX lithium shares mentioned finished in the green today. Pilbara Minerals ended the day 5.7% higher, Sayona Mining was up 4.3%, and Allkem climbed 1.8%.

The post Good times keep rolling for ASX lithium shares on Thursday appeared first on The Motley Fool Australia.

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More reading

• Here are the top 10 ASX 200 shares today
• Pilbara Minerals share price soars 7% to new highs
• Why Lake, Pilbara Minerals, PointsBet, and PolyNovo shares are charging higher
• What’s the outlook for ASX 200 mining shares in Q2?
• If I’d invested $1,000 in Sayona Mining shares at the start of 2022, here’s what I’d have now

Motley Fool contributor Zach Bristow 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 All Ordinaries Index (ASX: XAO) has risen 5% this week, but one ASX All Ords share has stormed far higher.

The Paradigm Biopharmaceuticals Ltd (ASX: PAR) share price has soared 53% since market close on 29 September. Paradigm entered a trading halt before market open last Friday and emerged from the freeze on Tuesday.

Let’s take a look at why this ASX All Ords share is having such a good week.

Clinical trial results

Paradigm shares have been storming higher since the company released news of a successful clinical trial for osteoarthritis (OA).

The drug company’s share price soared more than 20% on Tuesday and has kept storming higher since then. At market close today, the Paradigm share price gained another 19.5%, finishing the session at $1.93.

Earlier this week, Paradigm advised the primary endpoint had been met for synovial fluid biomarkers in the PARA_OA_008 phase two clinical trial.

Multiple osteoarthritis biomarkers were shown to favourably change over time in patients treated with injectable PPS (iPPS) compared to placebo.

The trial also showed significant improvement in Western Ontario and McMaster Universities Osteoarthritis Index pain and function scores.

Paradigm highlighted the promising market opportunity for osteoarthritis treatment. Market research found US customers would be willing to pay between US$2,000 and US$3,000 for the use of iPPS as a therapy for osteoarthritis. Worldwide, there were 303.1 million cases of osteoarthritis in 2017.

Commenting on the news, chief medical officer Donna Skerrett said:

We are encouraged by these preliminary data on the potential of iPPS to improve joint function and reduce the levels of biomarkers of cartilage degeneration in this translationally relevant model of naturally occurring OA.

Paradigm recently conducted a $66 million capital raise. This will fund the company into the 2024 calendar year. The company will hold its annual general meeting on 18 November.

Share price snapshot

Paradigm shares have climbed more than 3% year to date, while they have soared 63% in the past week.

For perspective, the ASX All Ords has lost nearly 10% year to date.

Paradigm has a market capitalisation of about $539 million based on the current share price.

The post Boom! Guess which ASX All Ords share has surged 50% this week appeared first on The Motley Fool Australia.

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More reading

• Why Allkem, Evolution, Paradigm, and Sayona Mining shares are zooming higher
• Why is the Paradigm share price rocketing 19% today?
• 3 ASX All Ords shares that marched higher on Friday

Motley Fool contributor Monica O’Shea has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The S&P/ASX 200 Index (ASX: XJO) wobbled in and out of the green on Thursday before ultimately closing slightly higher. The index ended the day 0.03% higher at 6,817.5 points.

It followed a similarly choppy night on Wall Street. The Dow Jones Industrial Average Index (DJX: .DJI), S&P 500 Index (SP: .INX), and Nasdaq Composite Index (NASDAQ: .IXIC) each stumbled at the last hurdle on Wednesday to post respective losses of 0.1%, 0.2%, and 0.4%.

Higher oil prices likely buoyed the ASX 200 today. The S&P/ASX 200 Energy Index (ASX: XEJ) led the Aussie bourse, gaining 2.2%.

Its day in the green came amid news the OPEC+ agreed to drop oil production by two million barrels a day, thereby assumably increasing demand. Seemingly in response, the Brent crude oil price lifted 1.7% to US$93.37 a barrel overnight, and the US Nymex crude oil price rose 1.4% to US$87.76 a barrel.

The S&P/ASX 200 Materials Index (ASX: XMJ) also gained 0.5% today, while the S&P/ASX 200 Real Estate Index (ASX: XRE) weighed on the market, falling 0.9%.

All in all, five of the index’s 11 sectors closed higher on Thursday, but which ASX 200 share outperformed all others? Keep reading to find out.

Top 10 ASX 200 shares countdown

The Whitehaven Coal Ltd (ASX: WHC) share price led the iconic index today, gaining 7% and reaching a new all-time high in intraday trade.

Today’s biggest gains were made by these shares:

ASX-listed company	Share price	Price change
Whitehaven Coal Ltd (ASX: WHC)	$10.46	7.17%
Pilbara Minerals Ltd (ASX: PLS)	$5.40	5.68%
Link Administration Holdings Ltd (ASX: LNK)	$3.27	5.14%
Coronado Global Resources Ltd (ASX: CRN)	$1.975	4.77%
Sayona Mining Ltd (ASX: SYA)	$0.245	4.26%
AUB Group Ltd (ASX: AUB)	$20.28	3%
Woodside Energy Group Ltd (ASX: WDS)	$34.75	2.6%
Origin Energy Ltd (ASX: ORG)	$5.70	2.52%
Megaport Ltd (ASX: MP1)	$8.71	2.35%
Aurizon Holdings Ltd (ASX: AZJ)	$3.57	2.29%

Our top 10 ASX 200 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

• Experts tip when inflation will peak, and it could be soon
• Pilbara Minerals share price soars 7% to new highs
• Could the Coles share price be in for a better month in October?
• Could the RBA’s latest interest rate decision signal a turning point for ASX 200 shares?
• Why are ASX 200 energy shares smashing the benchmark on Thursday?

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 Link Administration Holdings Ltd and MEGAPORT FPO. The Motley Fool Australia has recommended Aurizon Holdings Limited, Austbrokers Holdings Limited, and MEGAPORT FPO. 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 latest monthly inflation data in Australia showed the consumer price index (CPI) gained 6.8% from July to August, down from 7% the previous month.

The Reserve Bank of Australia’s decision on Tuesday to lift the cash rate by 25 basis points instead of the expected 50 has been a key benefactor to ASX shares this week.

Markets have responded well, with the benchmark S&P/ASX 200 Index (ASX: XJO) climbing nearly 5% since the interest rate announcement two days ago.

But the question that’s likely on everyone’s minds is when to expect pricing pressure to ease.

While it’s a contentious topic, many experts have weighed in with their opinions.

Inflation to peak soon?

Unfortunately, forecasting inflation has proven to be something of an inexact science over the past two years.

Even RBA governor Phillip Lowe acknowledged the central bank’s failings in accurately predicting the enormous spike in inflation in a recent speech.

Federal treasurer Jim Chalmers told a media conference at Parliament House on Tuesday the RBA is very clear “they think there is more work to be done by tightening the interest rate”.

Chalmers said:

Clearly, we’ve still got an inflation problem in this economy…[plus] the effect of rising interest rates is often not immediate. Clearly, the [RBA] needs to take that into consideration.

Our own Treasury forecasts expect inflation will get worse before it gets better, but it will get better and it will moderate during the course of next year.

This aligns with Lowe’s remarks in the latest RBA policy statement that said the central bank will “increase interest rates further over the months ahead”.

In a note to clients, ANZ chief economist David Plank also believes the RBA will need to lift rates further to see a reversal in inflation.

This would mean a “move into clearly restrictive territory of more than 3% to ensure inflation does return to target [of 2-3%]”, Plank said.

Meanwhile, SPI Asset Management says the RBA’s decision to lift the cash rate by 25 basis points and not 50 was based on market volatility rather than a sign of inflation cooling.

The wealth management company said in a note:

While inflation has yet to peak in Australia, the RBA’s more cautious hiking pace indicates that it is prepared to wait for the effects of monetary policy tightening already enacted to emerge more fully.

Given the fact the RBA was slow to act on inflation in the first place, this could weigh in as well.

As seen in the chart below, when inflation numbers began to spike past multi-year highs in 2021, the RBA didn’t act on interest rates until May 2022. The graph shows inflation prints [yellow and blue lines] versus the cash rate in the bottom pane.

In contrast, Betashares economists noted the RBA might be more focused on keeping the economy from entering into recession.

“[M]ore of our currently high rate of inflation appears to reflect global factors, rather than local demand imbalances,” they said, cited by The Australian.

Betashares experts agree the RBA is likely to continue its hiking cycle until mid-2023.

Whether this will coincide with the peak of inflation, we will have to wait and see.

The post Experts tip when inflation will peak, and it could be soon appeared first on The Motley Fool Australia.

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More reading

• Could the Coles share price be in for a better month in October?
• Could the RBA’s latest interest rate decision signal a turning point for ASX 200 shares?
• Why are ASX 200 energy shares smashing the benchmark on Thursday?
• 3 ASX 200 shares smashing all-time highs on Thursday
• ANZ share price best-value buy of the ASX 200 big four banks right now: expert

Motley Fool contributor Zach Bristow 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 Bitcoin (CRYPTO: BTC) price is up 1% overnight, currently trading for US$20,310 (AU$31,134).

That puts BTC up 8.6% already in October, with the crypto closing out September at US$18,694. (This figure will vary some depending on your time zone.)

As we reported here, September was a rather remarkable month for Bitcoin. While the token didn’t shoot the lights out, it only lost 2% over the month. That compares to a 10.5% drop on the tech-heavy NASDAQ-100 Index (NASDAQ: NDX).

With the Bitcoin price having tracked risk assets all year – though with rather magnified moves – September was the first month to see some break in that correlation.

Well, that’s the month gone by.

Now, what can crypto investors expect in October?

What’s impacting the Bitcoin price in October?

For some expert insight into that question, we turn to Josh Gilbert, market analyst at eToro.

Gilbert noted that September was indeed a volatile month for most other asset classes. But the Bitcoin price remained relatively resilient, trading in a tight range.

“There could be an argument that Bitcoin’s resilience comes after increased demand for Bitcoin, with significant volatility and uncertainty in foreign exchange markets,” like the British pound, he told The Motley Fool. Adding that this “was previously seen with the ruble during the Ukraine conflict”.

As for the month ahead, Gilbert told us:

Bitcoin’s price resilience in September paints a positive picture moving into October. Next week, CPI data out of the US will be another key test for Bitcoin. This will provide another insight into the macro environment, and a decline in inflation could boost crypto assets broadly.

In addition, the market is starting to believe that the Fed will not hike as much as expected or will stop early, helping the current market.

Cryptos have been hammered this year alongside risk assets like high growth tech stocks as the Federal Reserve and other global central banks, including the RBA, have aggressively hiked interest rates.

With the cost of future earnings rising, the NASDAQ-100 has plummeted 30% this year, while the Bitcoin price is down 57%.

If the Fed and other central banks scale back the rate increases, it should prove good news for tech shares and cryptos alike.

But invest with due care.

As Gilbert notes, “We still have a few more big hikes to come, and the Fed isn’t ready to turn dovish like the RBA just yet.”

The post What can crypto investors expect from the Bitcoin price in October? appeared first on The Motley Fool Australia.

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More reading

• Why Bitcoin and Ethereum are rising today
• Why did the Bitcoin price outperform the NASDAQ in September?
• One of the smartest investors says buy the dip on Bitcoin
• Why buying Bitcoin might be the best investment right now: broker
• Here’s what one billionaire thinks about crypto right now

Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Bitcoin. The Motley Fool Australia has positions in and has recommended Bitcoin. 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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This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

People keep talking about a “crypto winter” being here. But that doesn’t mean all cryptos face hostile market conditions these days. Some altcoins are doing surprisingly well right now and have posted double-digit returns over the past 30 days, attracting a lot of buzz across social media. They are being talked up as tokens that could explode in value over the next 12 months.

However, not all of these gainers are worth investing in because they are simply too speculative for the average investor. But there are three altcoins that have steadily appreciated over the past month that are worth a closer look: XRP (CRYPTO: XRP), Chainlink (CRYPTO: LINK), and Algorand (CRYPTO: ALGO). To be fair, all three are down between 55% and 85% over the past 12 months. However, all three have characteristics that set them up for greater utility in the days to come. All three rank among the top 30 cryptos in the world by market capitalization. If you’re thinking about juicing up your portfolio returns for 2022, these could be fantastic buys right now.

Algorand

Algorand, up 12% over the past 30 days, is a proof-of-stake Layer 1 blockchain founded by award-winning MIT professor Silvio Micali. Algorand has won kudos for its top performance metrics and has been regularly recognized as one of the greenest blockchains in the world. In addition, the Algorand blockchain got a speed and performance upgrade in September, boosting transaction processing speed from 1,200 to 6,000 transactions per second. Algorand also recently attracted attention in the crypto world for its new quantum cryptography efforts.

But what really has people excited about Algorand is its official partnership with the 2022 FIFA World Cup. In coordination with FIFA, for example, Algorand just launched an NFT marketplace for soccer NFTs. Look for Algorand to attract even more attention as the start of the World Cup nears in November. Right now, Algorand is a relatively little-known Layer 1 blockchain. After a massive worldwide audience tunes in to the World Cup, that could change. Moreover, the new soccer NFTs should boost overall activity on the Algorand blockchain and potentially attract new users and developers. In many ways, Algorand is an undervalued gem just waiting to be discovered.  

Chainlink

Chainlink, up 8% over the past 30 days, is a decentralized blockchain oracle network that feeds off-chain data, such as asset prices, to on-chain smart contracts. In layperson’s terms, it means that Chainlink takes data from the real world and shares it safely and securely with other blockchains. While its official launch dates back to 2017, Chainlink has been experiencing a renaissance of late. For example, Chainlink recently partnered with Coinbase to offer pricing feeds for NFT collections. This opens the door for offerings like real-time NFT indexes and new NFT lending protocols that use NFTs as collateral for loans.

Taking a bigger-picture view of where Chainlink is headed in the future, Chainlink founder Sergey Nazarov recently said that his vision is for Chainlink to become “the AWS of Web3.”  To make this vision a reality, Chainlink is now working with ex-Google CEO Eric Schmidt as a strategic advisor. At a recent conference in New York City, Schmidt and Nazarov discussed how real-time data could be turned into a premium product and monetized. All blockchains need off-chain data to execute smart contracts, and that’s exactly the gap that Chainlink is trying to fill. The next time you see those fun, football-themed Amazon Web Services commercials featuring real-time data feeds, just think of a future in which those commercials are coming from Chainlink instead.

XRP

XRP, up 45% over the past 30 days, is the token of the Ripple payment and settlement network. Ripple has won kudos for its ability to send remittances cross-border with near-zero transaction costs. Think of it as a crypto version of Western Union. Until recently, the problem with XRP was that it was facing a massive lawsuit from the SEC over whether XRP was a “crypto” or a “security.” The lawsuit has been hanging over XRP since 2020, which essentially put an artificial cap on the future price of this crypto.

But recent developments now suggest that a final settlement of the case is coming by year’s end, which has made crypto investors euphoric. XRP has been used for years to facilitate cross-border payments. Sending remittances all over the world is big business in a globalized world, and XRP has already worked with some big-name financial partners in the past to make this as frictionless as possible.  There is now serious talk that XRP could double or triple in value once the lawsuit is behind it, based on its ability to continue business as usual. However, just keep in mind that this is a very speculative investment, similar to investing in a distressed company getting a sudden lifeline. There is a reason why XRP was trading for mere pennies until recently: There is still a chance that XRP could go to zero.

Is it finally altcoin season?

Altcoin season typically starts when a few altcoins start to decouple from Bitcoin, which has historically been the crypto market benchmark. If Bitcoin goes up, altcoins usually follow right behind. If Bitcoin goes down, altcoins also go down with the ship. But in altcoin season, a few coins start to buck the trend. They go up way more than Bitcoin. Or they go up even if Bitcoin goes down.

The three altcoins mentioned here have properties that differentiate them from Bitcoin. Algorand is a Layer 1 blockchain network that can host smart contracts and decentralized applications, similar to Ethereun. Chainlink is a provider of real-time off-chain data feeds, which is not available via Bitcoin. And XRP is a payment and settlement network. There are clear use cases for all of them, and the market is recognizing that.

All of these altcoins are a buy right now. However, just keep in mind that altcoins carry significantly more risk than the largest cryptos in the market. That’s why I’ve focused on three altcoins with market capitalizations among the top 30, and all of which have been around since at least 2017. That should give you a certain margin of safety. So, sit back, sip your pumpkin spice latte, and enjoy the return of altcoin season. 

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

The post 3 altcoins to buy right now appeared first on The Motley Fool Australia.

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More reading

• Why Bitcoin and Ethereum are rising today

John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Amazon, Bitcoin, ChainLink, and Coinbase Global, Inc. The Motley Fool Australia owns and has recommended Bitcoin. The Motley Fool Australia has recommended Amazon. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.  

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

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The Pilbara Minerals Ltd (ASX: PLS) share price is outperforming its ASX lithium peers today.

Pilbara shares are surging 7.1% and are currently trading at $5.47 each. Earlier in the day, they hit a new all-time high of $5.61 before partially retreating.

For comparison, the S&P/ASX 200 Index (ASX: XJO) is edging 0.06% higher at the time of writing.

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

Storming ahead

Pilbara is not the only ASX lithium share in the green today, however, it is soaring higher than its peers. For example, the Sayona Mining Ltd (ASX: SYA) share price is 5.1% in the green today, while Allkem Ltd (ASX: AKE) shares are up 3.1%. Core Lithium Ltd (ASX: CXO) shares are climbing 1.1%.

Pilbara advised today Brian Lynn has decided to step down as chief financial officer of the company to spend more time with family. CEO Dale Henderson highlighted Pilbara is “well placed for the future”. He said:

We are incredibly well placed for the future, and this is in no small part due to Brian’s hard work and very significant contribution. We thank him for this and wish him well for the future

Lynn, who will remain in the role until a suitable replacement is found, added:

Pilbara Minerals has been at the vanguard of a new industry, and it has been incredible to be part of the Company’s journey from the ‘Tin Shed’ in North Fremantle to the ASX-100 company we are today, with a clear growth path into the future.

Earlier this week, the Federal Industry Department predicted lithium exports will soar 180% in the 2023 financial year to $13.8 billion.

Analysts at Macquarie have recently placed an outperform rating on the Pilbara Minerals share price. Analysts were impressed with the company’s latest battery material exchange (BMX) auction. At this auction, Pilbara accepted a bid of US$6,988 per dry metric tonne for Pilbara’s 5.5% lithia.

Pilbara produces lithium from the Pilgangoora Project, based in the Pilbara region of Western Australia.

Meanwhile, Wilsons analysts forecast demand for lithium will increase six to eight fold by the end of this decade. Wilsons said:

We don’t believe lithium supply can keep up with this level of demand growth. Lead times for lithium mines (from discovery to production) can take 5+ years, so there is no quick fix.

Pilbara Minerals share price snapshot

The Pilbara share price has risen 194% in the past year, while it has gained 72% this year to date.

Pilbara has a market capitalisation of more than $16.6 billion based on the current share price.

The post Pilbara Minerals share price soars 7% to new highs appeared first on The Motley Fool Australia.

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More reading

• Why Lake, Pilbara Minerals, PointsBet, and PolyNovo shares are charging higher
• Why Cronos Australia, Pilbara Minerals, Sayona Mining, and Strike Energy are dropping
• How did the Pilbara Minerals share price surge 25% during the ‘worst month of the year’?
• These were the best-performing ASX 200 shares in the first quarter of FY23
• Here are the top 10 ASX 200 shares 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 no position in any of the stocks mentioned. The Motley Fool Australia has recommended Macquarie Group Limited. 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 again picking out its best ASX share ideas for the month of October.

These are the shares that the broker thinks offer the highest risk-adjusted returns over a 12-month timeframe and are supported by a higher-than-average level of confidence.

The first two shares we looked at can be found here. Read on for the next two:

Domino’s Pizza Enterprises Ltd (ASX: DMP)

The first ASX share that Morgans rates as a strong buy this month is Domino’s. It is a growing pizza chain operator with operations across the ANZ, Asian, and European markets. Morgans highlights that the company has performed positively previously when inflation was high or economic growth was slow. In addition, the broker likes Domino’s due to its long term growth plans. It commented:

DMP is the largest Domino’s franchisee outside the US and one of the largest quick-service restaurant companies in the world. It is an affordable option that has performed well historically even in times of inflation or slower economic growth. The engine of DMP’s growth is its ability to roll out new stores all over the world. It added 438 stores to its global network in the year to June 2022, a pace of expansion that we forecast to accelerate to nearly 600 in FY23. This will take the total to almost 4,000 stores, up fourfold over a ten-year period. Over the next ten years, DMP expects to grow organically to 7,250 stores in the 13 countries in which it currently operates. This means DMP expects to more than double in size again by 2033, not including any future acquisitions.

Morgans has an add rating and $90.00 price target on the company’s shares.

Telstra Corporation Ltd (ASX: TLS)

A new addition to the best ideas list this month has been Telstra. Its analysts are positive on the telco giant for a number of reasons. This includes its belief that the market is undervaluing the company on a sum of the parts basis. It also expects the Optus data leak to be a boost to Telstra’s business in the next 12 months. Morgans explained:

After a major turnaround, TLS has emerged in good shape with strong earnings momentum and a strong balance sheet. In late CY22 shareholders vote on Telstra’s legal restructure, which opens the door for value to be released. TLS currently trades on ~7x EV/EBITDA. However some of TLS’s high quality long life assets like InfraCo are worth substantially more, in our view. We don’t think this is in the price so see it as value generating for TLS shareholders. This, free option, combined with likely reputational damage to its closest peer, following a major cybersecurity incident, means TLS looks well placed for the year ahead.

Morgans has an add rating and $4.60 price target on Telstra’s shares.

The post Morgans names 2 more of the best ASX shares to buy in October appeared first on The Motley Fool Australia.

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• Why dividends matter
• Could investors call on Telstra shares to be defensive in September?
• Buy these ASX 200 shares with big fully franked yields: experts
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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 positions in and has recommended Telstra Corporation Limited. The Motley Fool Australia has recommended Dominos Pizza Enterprises Limited. 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 Coles Group Ltd (ASX: COL) share price struggled through September, dumping 6.4% over the month.

But with broker sentiment appearing positive on the stock, could October bring better days?

At the time of writing, the Coles share price is $16.41, 0.97% lower than its previous close.

Meanwhile, the S&P/ASX 200 Index (ASX: XJO) is down 0.1%. The index also slumped 7.3% in September, which is generally the market’s worst month.

Let’s take a look at what the future might hold for the ASX 200 supermarket favourite.

What might the future hold for the Coles share price?

The near future of the Coles share price looks bright, according to some experts.

Morgans, for one, is tipping a 21.7% upside on the supermarket stock, slapping Coles shares with an add rating and a $20 price target, as my Fool colleague James reports.

The broker likes the company’s recently announced plan to sell Coles Express for $300 million.

It says the move will “free up significant balance sheet capacity” and allow the company to focus on its supermarkets and liquor businesses, continuing:

[W]e think [this] is the right strategy as competition is likely to remain intense on the back of higher inflation, rising interest rates, and increasing cost-of-living pressures for customers.

Of course, the company is an S&P/ASX 200 Consumer Staples Index (ASX: XSJ) constituent. Meaning, it’s regarded as better off than most amid tough times as consumers can’t simply stop spending on food.

However, new data shows Australians did, indeed, slow their supermarket spending last month.

The Beforepay Group Ltd (ASX: B4P) Cost of Living Index, which summarises the spending of more than 300,000 Aussies, found daily spending on groceries dropped 19% month on month to $15.20 a day in September.

If such trends continue, it could weigh on the supermarket operator’s bottom line.

However, Seneca investment advisor Arthur Garipoli, who is neither bullish nor bearish on Coles shares, believes tightening purse strings won’t prove too large an obstacle for the company, telling The Bull:

In a higher interest rate environment, Coles can be sufficiently agile to appeal to shoppers by ensuring affordable prices.

The post Could the Coles share price be in for a better month in October? 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 positions in and has recommended COLESGROUP DEF SET. 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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