The Woodside Energy Group Ltd (ASX: WDS) share price is steaming ahead today.
The energy producer’s shares are rising 3.67% and are currently trading for $31.84, having reached $32.35 soon after open. For perspective, the S&P/ASX 200 Index (ASX: XJO) is lifting 1.52% today.
So why is the Woodside share price having such a good day?
Woodside lifts as oil and gas prices rise
Woodside shares are rising today, but they are not alone among oil and gas producers. The Santos Ltd (ASX: STO) share price is lifting 2.55% today, while Beach Energy Ltd (ASX: BPT) shares are climbing 1.74%.
The benchmark S&P/ASX 200 Energy Index (ASX: XEJ) is rising 2.79% today.
Oil prices rose overnight following an unexpected decline in US crude and fuel reserves and a slightly weaker US dollar. Brent crude futures jumped 3.5%, while WTI crude futures leapt 4.65% higher. One analyst quoted by Reuters suggested the oil price will continue to be volatile.
CIBC Private Wealth US senior energy trader Rebecca Babin said:
I do think we are bottoming, but it is going to continue to be exceptionally volatile, and continue to be keeping easy speculative money away from this market.
Meanwhile, European natural gas also made gains overnight amid supply risk. ANZ analyst Madeline Dunk, in a research note, said the energy market was rattled after damage to the Nord Stream pipelines.
“The threat of disruptions to pipeline gas puts more reliance on LNG imports,” she said.
Woodside recently signed a flexible sale and purchase agreement with German energy supply Uniper amid the European energy crisis. Woodside will apply 12 cargoes of LNG per year to Europe from January 2023 for a term up to 2039.
Woodside CEO Meg O’Neill said the deal would “provide a new source of LNG for consumers in Europe seeking alternatives to Russian gas”.
Woodside share price snapshot
The Woodside share price has soared 45% in the year to date, while it has risen 35% in the last year.
In contrast, the ASX 200 has shed 12% in the year to date and 9% in the past year.
Woodside has a market capitalisation of about $60.7 billion based on the current share price.
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 Medibank Private Ltd (ASX: MPL) share price is sitting pretty today as the S&P/ASX 200 Index (ASX: XJO) lights up green.
At the time of writing, Medibank shares have climbed 0.29% to trade at $3.50 apiece.
But there’s more good news for Medibank shareholders. Today is dividend payday.
It’s payday for Medibank shareholders
Last month, Medibank pulled back the curtain on its FY22 results. In doing so, the ASX 200 private health insurer declared a fully franked final dividend of 7.3 cents.
Medibank shares went ex-dividend for this payment back on 7 September. So, any Medibank shares bought on or after this date won’t be able to claim today’s payout.
Medibank declared a final dividend of 6.9 cents in FY21. So, today’s payment represents a 6% uplift from the prior year.
This dividend hike was supported by a 9% growth in underlying net profit after tax (NPAT), which came in at $435 million.
Announcing the company’s full-year results, CEO David Koczkar said:
Today we have delivered another strong result driven by continued policyholder growth, double-digit growth in Medibank Health and remaining disciplined in how we grow and run our business.
Medibank highlighted its customer growth as a standout during the year. The number of resident policyholders grew by 3% or nearly 61,000 over the 12-month period. What’s more, the company’s customer retention over the past two years is higher than at any point in the prior decade.
Across the financial year, Medibank declared total dividends of 13.4 cents, fully franked. Based on current prices, Medibank shares have a trailing dividend yield of 3.8%. Including franking credits, this yield dials up to 5.4%.
Looking ahead, broker Citi is forecasting Medibank to raise its dividends by 19% in FY23 to 15.9 cents per share. At the moment, this implies a prospective forward dividend yield of 4.5%.
Medibank share price snapshot
Medibank is one of the rare ASX 200 shares to sit in the green this year.
In fact, Medibank shares have gained an impressive 14% over the last six months. Meanwhile, the ASX 200 index has backpedalled by a similar amount.
Fellow ASX 200 health insurer NIB Holdings Limited (ASX: NHF) has matched Medibank with similar share price gains this year.
ASX insurance shares can outperform in periods where inflation and interest rates are on the rise.
As explained by the team at Wilsons, insurers “benefit from higher premiums due to the rising inflation environment and higher interest income on policyholders’ funds.”
It seems health insurance companies, in particular, have been the pick of the bunch so far in 2022.
Other ASX 200 insurance shares, such as QBE Insurance Group Ltd (ASX: QBE) and Insurance Australia Group Ltd (ASX: IAG), have outperformed the market. But not by nearly as much as Medibank and NIB.
Both IAG shares and QBE shares are relatively flat over the last six months.
Motley Fool contributor Cathryn Goh 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 Insurance Australia Group Limited. The Motley Fool Australia has recommended NIB Holdings 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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ASX lithium shares have been among the top performers over the past year. This comes as the booming growth in global EV markets has seen demand for the battery-critical metal surge.
While most lithium stocks are enjoying another good run today, these three are leading the pack.
So, without further ado, here’s what investors are considering today.
What’s piquing ASX investor interest?
The first ASX lithium share shooting higher today is Anson Resources Ltd (ASX: ASN).
The Anson Resources share price is up 12.28% in early afternoon trade.
Shares are surging after the company reported the discovery of “multiple new lithium-rich zones” at its Paradox Lithium Project in the US state of Utah. The lithium intersections were hit in its recently completed resource definition drilling at the Cane Creek 32-1 well.
The miner said that drilling is now complete at Cane Creek, with multiple assays pending that it expects will deliver a “significant further JORC Resource upgrade”.
The second ASX lithium share rocketing higher today is Global Lithium Resources Ltd (ASX: GL1). The Global Lithium share price is up 6.98%.
Investors are bidding up shares after the company reported it had signed a non-binding memorandum of understanding (MOU) with Korean battery manufacturer SK On Co., Ltd (SKO) “to explore a range of future business opportunities”.
Commenting on the MOU, Global Lithium’s managing director Ron Mitchell said:
The scope of this partnership has the potential to strengthen and diversify the future of Global Lithium’s projects in Western Australia both in the near term and in the years ahead… The lithium and EV markets have experienced significant growth over the past two years and this expansion is only set to accelerate as demand for lithium-ion batteries increases.
This brings us to the third ASX lithium share leaping higher, De Grey Mining Limited (ASX: DEG). The De Grey Mining share price is up 6.36% today.
With no fresh price-sensitive news out today, De Grey looks to be cashing in on the broader bullishness surrounding the lithium market.
How have these ASX lithium shares been tracking?
All three of these ASX lithium shares have beaten the 10% loss posted by the All Ordinaries Index(ASX: XAO) over the past 12 months.
The De Grey share price has gained 12%, the Anson Resources share price is up 250%, and the Global Lithium share price has surged almost 500% since this time last year.
Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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Santos Ltd (ASX: STO) shares have received some healthy tailwinds over the past year amid the sharpening global energy crisis.
Energy supplies were already tight heading into 2022 as nations re-opened from their pandemic shutdowns, following years of underinvestment in exploration and development of new energy projects.
Russia’s invasion of Ukraine exacerbated the budding crisis, underlined by this week’s likely sabotage of the Nord Stream gas pipeline.
As European nations scrambled to secure alternative energy sources, Santos shares marched 11% higher since the closing bell on 31 December. That’s atop paying out 22.7 cents in partially frankeddividends this calendar year.
Santos shareholders were hoping the company’s $4.7 billion Barossa gas project would help Santos cash in on the strong global gas demand for years to come.
But those plans are now in jeopardy.
Legal setback post FID
Santos, along with its Japanese and Korean joint venture partners, made its final investment decision (FID) for Barossa, located in the Timor Sea north of Darwin, in March 2021.
And the project was greenlighted by the National Offshore Petroleum and Safety Environmental Management Authority (NOPSEMA).
But a federal court threw cold water on that call yesterday, ruling in favour of Tiwi Islands’ traditional owners, who claim they had not been properly consulted before the project won approval.
As ABC News reported, the Environment Defenders Office said the NOPSEMA approval was unlawful, adding that traditional owners are concerned about environmental impacts and potential damage to culturally significant sites.
Santos halted work on the project when the court challenge was filed. That pause will now continue. Santos is appealing the decision.
Commenting on the court’s ruling, Santos stated:
As a result of the decision, the drilling activities will be suspended pending a favourable appeal outcome or the approval of a fresh Environment Plan. Given the significance of this decision to us, our international joint venture partners and customers, and the industry more broadly, we consider that it should be reviewed by the Full Federal Court on appeal.
Investors don’t appear overly concerned with the legal setback at this stage, with Santos shares up 3.06% in Thursday morning trade.
How have Santos shares been tracking longer-term?
Though still down from their pre-pandemic levels, Santos shares have notched a 75% gain (exclusive of dividends) over the past five years. That far outpaces the 16% gains posted by the S&P/ASX 200 Index (ASX: XJO) over that same period.
Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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Investors are heading for the hills, sending the Iress share price lower following the company’s dismal outlook.
According to its release, Iress is experiencing some timing delays in the conversion of new sales opportunities due to challenging market conditions.
While it didn’t say exactly what those factors were, Iress said the setback is “expected to impact FY 2022 guidance”.
Furthermore, unfavourable currency exchange movements and US dollar pricing have led to higher than anticipated supplier costs.
Consequently, Iress is projecting full-year segment profit for 2022 to be in the range of $166 million and $170 million on a constant currency basis.
This compares to the company’s previous guidance in August, in which it forecasted segment profit to be at the bottom of the range of $177 million and $183 million.
As a result, net profit after tax (NPAT) is estimated to be between $54 million and $58 million, down from $63 million to $72 million.
Iress CEO Andrew Walsh commented on the company’s performance, saying:
Profit expectations for the second-half of this year have been impacted primarily by delays in the timing of new client opportunities. In addition, some costs are higher than we previously expected, including US dollar priced technology and software. While external macro conditions are volatile, we are making good progress in executing on our long-term strategies to build a more profitable and efficient Iress.
Iress share price summary
Adding in today’s losses, the Iress share price has fallen 32% in 2022.
When looking at the last 12 months, its shares are down 23%.
Based on today’s price, Iress presides a market capitalisation of approximately $1.96 billion.
Motley Fool contributor Aaron Teboneras 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 Cogstate Limited (ASX: CGS) share price has continued its ascent on Thursday.
In morning trade, the neuroscience technology company’s shares are up a further 17% to $2.24.
Though, it is worth noting that the Cogstate share price was up as much as 27% to $2.42 at one stage. The latter brought its two-day gain to an incredible 73%.
Why is the Cogstate share price surging higher?
As we covered here yesterday, investors were scrambling to buy the company’s shares yesterday despite there being no news out of it.
However, as we pointed out, the gain was likely due to its partner and shareholder, Japan’s Eisai, revealing that its experimental drug for Alzheimer’s disease has helped slow cognitive decline in patients in the early stages of the illness.
A phase 3 clinical trial of lecanemab revealed cognitive decline was slowed by 27% after 18 months based on 1,795 patients, who were randomly assigned to receive either the drug or a placebo every two weeks over the months.
Cogstate’s response
Yesterday afternoon, Cogstate responded to a request from the Australian stock exchange to explain the recent trading in its securities.
While the company advised that it will not benefit directly from Eisai’s news because its partnership excludes clinical trials, it does see potential for it to benefit indirectly.
The company explained:
In respect of Cogstate’s business in Clinical Trials, when commenting on its FY23 outlook on 30 August 2022, the Company noted that the release of positive phase 3 clinical trial data from Eisai (and others) may be expected to lead to a general increase in research and development expenditure in respect of Alzheimer’s disease, which may provide additional sales opportunities for Cogstate in its Clinical Trials business and may also impact Cogstate’s Healthcare business.
Cogstate has also consistently stated that the upside revenue opportunity for the Healthcare business, beyond the contracted minimum payments from Eisai, is expected to be dependent upon the release, reimbursement, and availability of proven Alzheimer’s therapeutics.
In addition, the company sees these developments as a potential positive for its Cognigram offering. It said:
Since executing the agreement in October 2020, Eisai (which is also a substantial holder in the Company) and Cogstate have progressed commercial plans for launching digital brain health assessment solutions using Cogstate technologies, including both a direct-to-consumer self-check as well as a medical device, Cognigram, to aid healthcare professionals in clinical diagnosis decisions. It may be expected that such digital cognitive assessments could play an important role in supporting the type of large-scale cognitive assessment that will be necessary in the launch of disease modifying therapies for Alzheimer’s disease.
All in all, these are exciting times for Cogstate and its technology.
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended CogState Limited. The Motley Fool Australia has positions in and has recommended CogState 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 day has finally come where Commonwealth Bank of Australia (ASX: CBA) shareholders will become a little richer.
After the bank’s shares tumbled more than 5% in the past month, the company is paying out its latest dividend.
At the time of writing, the CBA share price is 1.34% higher to $93.78.
For context, the S&P/ASX 200 Index (ASX: XJO) is also rising by 1.7% following strong gains on Wall Street overnight.
Let’s take a look below at the details regarding the company’s dividend.
What are the details of the CBA dividend?
During mid-August, CBA reported growth across key metrics in its full-year results of the 2022 financial year.
In summary, revenue improved by 3% to $25,143 million over the prior corresponding period. The robust performance was underpinned by an increase in lending and deposits in both home and business portfolios.
This led to the bank achieving an 11% boost in cash earnings to $9,595 million.
Subsequently, the board elected to increase its final dividend by 5% to $2.10 per share. This brings the full-year dividend to $3.85 per share, up from the $3.50 declared in FY 2021.
The dividend is fully franked which means those who receive it, will get some form of tax credits.
Based on today’s price, CBA has a dividend yield of 4.11% which is slightly lower than the rest of the big four.
CBA share price snapshot
Over the past 12 months, the CBA share price has moved in circles to register a loss of around 10%.
Its shares hit a 52-week low of $86.98 on 17 June before climbing on in the following months.
Motley Fool contributor Aaron Teboneras 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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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.
It’s been a painful year for Shopify Inc.(NYSE: SHOP) and its shareholders. The company’s coronavirus tailwind came to a screeching halt, leading to financial results that haven’t been up to par. The e-commerce specialist’s 10-for-1 stock split did little to improve its stock market performance; as things stand, Shopify is currently hovering near its 52-week low.
However, Wall Street has faith in the tech giant, and analysts’ average price target of $79.45 is close to triple its $27.85 share price as of this writing. Is the Street right about Shopify?
What’s wrong with Shopify?
Shopify has been the victim of various market-wide headwinds. Among these are interest rate increases that can impact the value of corporations. In an environment with higher interest rates, borrowing — one of the main ways companies raise money — becomes more expensive, and businesses tend to do less of it, leading to reduced investments and lower future earnings.
Knowing this, investors are less likely to invest in stocks, especially those speculative growth stocks with high valuation metrics that aren’t consistently profitable. That description fits Shopify to a T. Its net loss in the second quarter came in at $1.20 billion, compared to the net income of $0.88 billion reported during the year-ago period.
The company’s current forward price-to-earnings (P/E) ratio is 220.5. Even given the premium growth stocks often enjoy, that seems too high. The S&P 500‘s forward P/E is just under 17. In that context, Shopify’s performance on the market over the past year isn’t too surprising, especially when you factor in company-specific issues. Notably, Shopify’s revenue growth rates have slowed as well.
Perhaps that isn’t a “problem” — at least not in a vacuum. Shopify benefited from the accelerated switch to e-commerce in the early days of the pandemic, and year-over-year comparisons were always going to be difficult as those tailwinds subsided. Still, when added to the overall challenging macroeconomic environment, that’s not what investors want to see.
Moreover, Shopify will likely continue to struggle, at least for a little while. There will probably be more interest rate increases in the near future. Shopify’s stock performed exceptionally well between its initial public offering in May 2015 and the end of last year — an environment marked by historically low interest rates. Moving forward, it will be harder for the tech giant.
Are there any reasons to be optimistic?
Solid long-term prospects
There is more context to Shopify’s relatively disappointing second-quarter financial results. As already mentioned, the slower top-line growth was partly a product of the company’s abnormally strong performance in 2020 and 2021, when people were stuck at home and practically forced to shop online. This activity decreased somewhat once pandemic restrictions eased.
There is also more color to Shopify’s red ink on the bottom line. For instance, in the second quarter, much of the tech company’s net loss was due to unrealized losses in various equity investments. That includes Shopify’s holdings in Affirm Holdings, Inc.(NASDAQ: AFRM) and Global-e Online Ltd.(NASDAQ: GLBE). That’s not ideal, but at the very least, it reflects less poorly on Shopify’s day-to-day operations.
The company’s adjusted net loss during the second quarter — which ignores the impact of unrealized losses and other items — came in at $38.5 million, down from an adjusted net profit of $284.6 million in the year-ago period.
Importantly, Shopify’s long-term prospects remain strong. There is still plenty of room for e-commerce to grow; as long as it does, merchants will look to open online storefronts. Some analysts see the industry expanding at a compound annual growth rate of 14.7% through 2027. It won’t stop there. E-commerce penetration in many developing countries lags what it is in the U.S.
In my view, online shopping will continue growing for decades. Shopify’s strength is that it gives merchants all the essential tools they need to run an online store. As a result, the company benefits from high switching costs. Building and customizing an online storefront is hard enough, and attracting loyal customers to it is even more challenging.
But having to restart the entire process from scratch is not something anyone wants to do unless necessary. That’s why Shopify’s merchants won’t want to jump ship. As of last year, Shopify was No. 2 among companies with the highest retail e-commerce market share in the U.S. That, coupled with an estimated $160 billion addressable market and its solid competitive advantages, strongly suggests Shopify can turn things around.
Don’t lose perspective
Will Shopify meet Wall Street’s expectations within the next 12 months? Probably not. But more importantly, the company still has solid prospects, especially when you put its recent struggles in context. For those focused on the long game, Shopify is worth holding onto. The company will likely deliver solid returns in the next decade and beyond.
This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.
Prosper Junior Bakiny has positions in Shopify. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Affirm Holdings, Inc., Global-e Online Ltd., and Shopify. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended the following options: long January 2023 $1,140 calls on Shopify and short January 2023 $1,160 calls on Shopify. 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.
This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.
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It has been a stunning few weeks for the Cronos Australia Ltd(ASX: CAU) share price.
Since this time last month, the medicinal cannabis company’s shares have risen over 80%.
This led to the Cronos Australia share price reaching a record high of 75 cents earlier today.
Why is the Cronos Australia share price on fire this month?
While the company released a positive update last week which boosted its shares, the majority of the gains were made earlier in the month.
The catalyst for that appears to have been a bullish broker note out of Bell Potter.
According to the note from 5 September, the broker initiated coverage on the company’s shares with a buy rating and 60 cents price target.
At the time, the Cronos Australia share price was fetching 46 cents, so this implied potential upside of 30% for investors.
Why is Bell Potter bullish?
Bell Potter explained that its bullish view was based largely on the company’s leadership position in medicinal cannabis distribution. It commented:
Cronos Australia is a medicinal cannabis company that is the market leader in distribution to pharmacies and provides patient consulting services through its clinic business. The key driver for the impressive growth in the past 24 months has been the CanView platform which provides the widest range of medicinal cannabis products compared to competitors (Anspec, Health House).
In addition, Bell Potter points out that Cronos Australia is profitable and even pays a dividend. That makes it the only one of its kind in the Australian cannabis industry. It explained:
We initiate coverage on Cronos with a Buy recommendation. We expect the momentum observed in FY22 to continue into FY23 and translate into strong revenue and earnings growth. Cronos is currently the only profitable dividend paying medicinal cannabis company on the ASX and the valuation does not appear demanding relative to the expected growth.
Though, with the Cronos Australia share price now trading higher than Bell Potter’s valuation, it’s worth considering that it could have peaked for the time being.
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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Brokers are currently sceptical of shares in S&P/ASX 200 Index(ASX: XJO) iron ore favourite Fortescue Metals Group Limited (ASX: FMG). But the iconic index houses another, potentially more promising, iron ore share.
Champion Iron Ltd (ASX: CIA) has been tipped as one to watch by a major fundie despite expectations the price of iron ore could fall.
The ASX 200 company is developing mining operations in Canada and currently trades at a share price of $4.82.
So, why might the far smaller ASX 200 share be a better buy than Fortescue? Let’s take a look.
Could this ASX 200 share be a better buy than Fortescue?
Janus Henderson Group (ASX: JHG) portfolio manager Tim Gerrard is reportedly bullish on metals and mining, and sustainability.
It’s for those reasons he is also hopeful of ASX 200 mining share Champion Iron, Livewire reports. The fundie was quoted as saying the stock offers “plenty of catalysts and deep value”, continuing:
[Champion Iron is] producing iron ore in Canada … That iron ore is low carbon, it has a low carbon footprint. There’s a lot of hydropower in Canada.
That business is [also] being built off the back of a low capital base … and it can be expanded two or three times and so, even though I know [iron ore] prices might come off, it can be expanded.
But that’s not all the fundie likes about the stock.
Gerrard told the masthead the key to his bullishness is the company’s work to increase the grade of its iron ore, which could allow it to be used in steel recycling operations in the US. That could then lower the company’s carbon footprint further.
While the latest move likely saw climate-conscious investors celebrating, it also raised eyebrows as some brokers queried how the company would fund the $9 billion plan.
Many assume the iron ore giant will reduce its dividends as it works to cut its scope one and two emissions from the region by 2030.
Indeed, most brokers are bearish on the future of the Fortescue share price, with Goldman Sachs tipping a 29% downside.
Shares in the ASX 200 giant are currently trading at $16.73, while the broker expects them to fall to $12.10.
Champion Iron share price snapshot
Shares in Champion Iron and Fortescue have performed similarly so far this year.
Both ASX 200 stocks have slumped around 15% year to date.
Looking longer-term, however, the Fortescue share price has outperformed, gaining 13% over the last 12 months. Meanwhile, that of Champion Iron has risen just 2%.
For context, the ASX 200 has fallen 14% since the start of 2022 and 9% since this time last year.
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 Goldman Sachs. 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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