Category: Stock Market

The Novonix Ltd (ASX: NVX) share price is plummeting today despite no word having been released by the tech giant.

It comes just one day after the battery technology and materials company posted its annual report, driving the stock nearly 4% higher on Wednesday.

Sadly, it’s handing back that gain – and then some – today. The Novonix share price is $2.275 at the time of writing, 5.99% lower than its previous close.

For context, the S&P/ASX 200 Index (ASX: XJO) is down 1.8% right now, while the S&P/ASX 200 Information Technology Index (ASX: XIJ) is outperforming, falling just 1%.

Let’s take a closer look at what’s going on with Novonix’s stock today.

What’s weighing on the Novonix share price today?

Thursday is proving to be a rough one for ASX 200 tech stock Novonix. It’s currently its home sector’s worst performing constituent.

Though, its 6% tumble isn’t far behind the 5.59% fall currently exhibited by the EML Payments Ltd (ASX: EML) share price. EML is coming in as the tech sector’s second worst performer.

Novonix’s day in the red comes after its full-year results were released to the market yesterday afternoon.

It posted $8.4 million of revenue for the 12 months ended 30 June – a 61% year-on-year increase. Meanwhile, its loss for the period came in at $71.4 million. That’s 295% deeper than the $18 million loss it posted for financial year 2021.

The company also provided an overview of an eventful year that saw it admitted to the ASX 200 and float on the Nasdaq Stock Market.

Interestingly, the company’s NASDAQ listing lifted 1.7% overnight as the United States market digested the company’s results.

Sadly, despite such an exciting year for the company, the stock has underperformed over the last 12 months.

The Novonix share price has more than halved since this time last year. That’s despite it peaking at $12.47 in December – 82% higher than where it’s trading today.  

For comparison, the ASX 200 has slumped 9% over the last 12 months, while the tech sector has fallen 34%.

The post Why is the Novonix share price slumping 6% on Thursday? appeared first on The Motley Fool Australia.

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More reading

• Novonix share price lifts despite full-year loss deepening to $71 million
• Here are the top 10 ASX 200 shares today
• Why is the Novonix share price tumbling 6% on Monday?
• Why is the Novonix share price getting hammered on Wednesday?
• How close is ASX tech share Novonix to becoming profitable?

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 EML Payments. The Motley Fool Australia has positions in and has recommended EML Payments. 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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Three ASX mining shares are flying high this afternoon. This is despite the major indexes that track these companies being down across the board.

The S&P/ASX 200 Materials Index (ASX: XMJ) is down 4.16% Meanwhile, the related S&P/ASX 300 Metals and Mining Index (ASX: XMM) is down more by 4.51%.

Zooming out further, the S&P/ASX 200 Index (ASX: XJO) is also down by 1.68%.

Let’s cover which ASX mining shares are charting their own destiny on Thursday.

Desert Metals Ltd (ASX: DM1)

The Desert Metals share price is up 14.86% at the time of writing. Shares of the mineral explorer are currently trading for 42.5 cents each, having earlier hit an intraday high of 48 cents apiece — a gain of nearly 30% on Wednesday’s close.

There’s no news today from Desert Metals to make sense of the surge in green for its share price. However, on Tuesday the company reported that a possibility of a new rare earth system is emerging at its Innouendy site in Western Australia, giving promise to additional production yields. Shares rallied to 46 cents yesterday amid the announcement.

American West Metals Ltd (ASX: AW1)

The American West Metals share price is currently up a staggering 81.48% today. Shares of the progressive miner are trading hands for 24.5 cents each. They previously closed at 20 cents each.

American West Metals announced its first assay, or analysis results of its diamond drilling initiative for its Storm Copper Project in Canada. The drilling reportedly uncovered high grades and thicknesses of copper.

As part of the release, American West Metals managing director Dave O’Neill commented:

These results immediately validate the historical high-grade intersections within the 2750N Zone, highlighting the quality of the Storm mineral system. These kinds of grades and thicknesses are exactly what we want to see as we work to define a shallow high-grade copper resource.

Parabellum Resources Ltd (ASX: PBL)

The Parabellum Resources share price is another big gainer this afternoon, up 16.12% to 36 cents.

There’s been no news today from Parabellum. However, earlier in the week, the company announced that it had started environmental baseline monitoring studies at the Khotgor project in Mongolia. The wider view is that these studies will introduce disclosures for its progress in implementing environmental, social and governance (ESG) policies.

Parabellum Resources non-executive chairman Mark Hohnen said:

We greatly value ESG considerations as they enable us to better identify material risks and growth potential, leading to better-informed decisions and business outcomes.

The post 3 ASX mining shares rocketing by more than 14% on Thursday appeared first on The Motley Fool Australia.

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More reading

• Guess which ASX mining share is exploding 74% on a new copper find
• 2 ASX mining shares that rocketed between 16% and 108% on Tuesday
• Guess which ASX mining share just exploded 48% on a major copper discovery

Motley Fool contributor Matthew Farley 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 Australian superannuation industry could be set for one of its biggest shake-ups in decades. That’s what the entry of the massive fund management company Vanguard into the super sector could mean. Vanguard is one of the largest asset managers in the world.  

Many ASX investors would be familiar with some of Vanguard’s popular exchange-traded funds (ETFs). Indeed, the Vanguard Australian Shares Index ETF (ASX: VAS) remains the most popular ASX ETF on our share market today.

But until now, Vanguard has not been directly involved in the Australian superannuation industry. Until a few years ago, the company did offer its products indirectly through other super providers. But the company has ditched these avenues in preparation for its entry into the market itself.   

Vanguard primed to announce new superannuation products

This may have just gotten one step closer too. According to reporting in The Australian today, Vanguard has just received regulatory approval to “launch a suite of superannuation products” in the Australian market from the Australian Prudential Regulation Authority (APRA).

Vanguard’s Australian chief executive, Daniel Shrimski, told The Australian that “our journey is just beginning… We think the simplicity, the low cost and the (investment) expertise that we will provide will resonate”.

As a well-known provider of ETFs, many investors might assume that these ETFs may play a major role in what Vanguard will offer super customers.  

That would be a safe assumption, according to Shrimski. He said that Vanguard’s products will be “more fund-based but we think ETFs will certainly be a part of the longer-term solution”.

So what ETFs might Aussies be able to invest in under a Vanguard superannuation product? Well, the Vanguard Australian shares ETF would be a good start.

As Vanguard’s most popular product, and the only one that covers either the S&P/ASX 200 Index (ASX: XJO) or the S&P/ASX 300 Index (ASX: XKO), it would be a safe bet that VAS is among the flagship ETFs that Vanguard will offer up.

Which Vanguard ETFs could be on offer?

But the Vanguard MSCI Australian Small Companies Index ETF (ASX: VSO) would be another strong candidate. VSO covers around 210 of the smaller shares on the ASX.

Forget BHP Group Ltd (ASX: BHP) and the big four banks. VSO’s largest holdings include companies like Lynas Rare Earths Ltd (ASX: LYC), Carsales.com Ltd (ASX: CAR) and Bendigo and Adelaide Bank Ltd (ASX: BEN).  

That could complement Vanguard’s other ASX offer, the Vanguard MSCI Australian Large Companies Index ETF (ASX: VLC) nicely. VLC is an ETF that covers only the top 20 largest companies on the ASX.

Income investors might appreciate the inclusion of the Vanguard Australian Shares High Yield ETF (ASX: VHY).

But Vanguard has many other ETFs that look to shares beyond our shores.

The Vanguard MSCI International Shares Index ETF (ASX: VGS) is another probable shoo-in. This is Vanguard’s flagship international shares ETF. VGS covers almost 1,500 individual shares hailing from more than 20 different advanced economies.   

These include Canada, France, Japan, the United Kingdom and Germany. Saying that, it is heavily dominated by US tech giants like Apple Inc (NASDAQ: AAPL), Microsoft Corporation (NASDAQ: MSFT) and Amazon.com Inc (NASDAQ: AMZN).

Looking outside the ASX and the US

But we could also see the Vanguard FTSE All-World ex-US ETF (ASX: VEU) offered as well. This fund is similar to VGS, but excludes US shares. In their place, many emerging economies are represented, including India, Brazil, and Saudi Arabia. Overall, this ETF has more than 3,500 individuals holding within it.  

Ethically-minded investors might appreciate if there was the option to select the Vanguard Ethically Conscious International Shares Index ETF (ASX: VESG).

More regionally specific ETFs from Vanguard are also possibilities for inclusion in its superannuation offerings. This includes the Vanguard FTSE Europe Shares ETF (ASX: VEQ), the Vanguard FTSE Asia ex-Japan Index ETF (ASX: VAE) and the Vanguard FTSE Emerging Markets Shares ETF (ASX: VGE).

Other Vanguard ETFs covering different asset classes outside shares could also be potentially available. These might be the Vanguard Global Infrastructure Index ETF (ASX: VBLD). As well as the Vanguard Australian Fixed Interest Index ETF (ASX: VAF) for access to fixed-interest bond investments.  

So it’s likely that new Vanguard super customers will have a plethora of ETFs to choose from when the company eventually brings its new superannuation products online. We don’t yet know when this will be. But with Vanguard now gaining regulatory approval, it’s probably going to be sooner rather than later.  

The post Could these ASX ETFs soon play a bigger role in Aussie super funds? appeared first on The Motley Fool Australia.

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More reading

• 2 of the best ETFs for ASX investors to buy in September
• Why are the VAS ETF’s dividends so erratic?
• How does VGS stack up against other ASX index funds?
• 3 top ETFs for ASX investors to buy
• 2 wonderful ETFs to buy for portfolio diversification

John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Motley Fool contributor Sebastian Bowen has positions in Amazon, Apple, Microsoft, and Vanguard Australian Shares High Yield Etf. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Amazon, Apple, Microsoft, and Vanguard MSCI Index International Shares ETF. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended the following options: long March 2023 $120 calls on Apple and short March 2023 $130 calls on Apple. The Motley Fool Australia has positions in and has recommended Bendigo and Adelaide Bank Limited. The Motley Fool Australia has recommended Amazon, Apple, Vanguard Australian Shares High Yield Etf, Vanguard MSCI Index International Shares ETF, and carsales.com 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 S&P/ASX 200 Index (ASX: XJO) is sliding 1.85% today, but three ASX 200 shares are soaring higher.

Fisher & Paykel Healthcare Corp Ltd (ASX: FPH), Coles Group Ltd (ASX: COL), and Endeavour Group Ltd (ASX: EDV) shares are all lifting today.

Let’s take a look at why these ASX 200 shares are performing so well.

Fisher & Paykel

The Fisher & Paykel share price is currently lifting 1.77%. In news today, Fisher & Paykel has entered a sale and purchase agreement to acquire land for a new campus in New Zealand.

Subject to approval from the Overseas Investment Office, the company will acquire a 105-hectare site in Karaka, Auckland. This will cost $275 million.

Commenting on the news, Fisher & Paykel CEO Lewis Gradon said:

Over time, this world-class campus will house a large number of employees in R&D, pilot manufacturing and related roles, providing a major boost to the local area.

Coles

The Coles share price is currently rising 1.31%. Woolworths Group Ltd (ASX: WOW) shares are also rising 0.46% today.

Some investors may be buying up Coles shares before it trades ex-dividend tomorrow. New shareholders will not be eligible for the final FY22 fully franked dividend of 30 cents per share after the ex-dividend date.

Coles is paying total dividends of 63 cents per share in FY22, 3.3% more than the previous financial year. The final FY22 dividend will be paid on 28 September. Coles reported a 2% lift in earnings before interest, tax, depreciation and amortisation (EBITDA) in FY22 to $3.4 billion, while sales revenue lifted 2% on the previous year to $39.4 billion.

Endeavour Group

It’s also proving a good day for the Endeavour share price, which is climbing 2.68% to $7.47 at the time of writing. The ASX 200 Consumer Staples Index (ASX: XSJ) is also climbing 0.89% today.

Recently, Goldman Sachs rated the Endeavour share price as a buy with an $8.10 price target. Goldman said, “we continue to see that EDV has one of the most loyal consumer bases in retail”.

Endeavour’s net profit after tax (NPAT) lifted 11.2% on the previous year in FY22 to $495 million. Endeavour traded ex-dividend on Thursday. A final fully franked dividend of 7.7 cents is due to be paid on 16 September.

The post 3 ASX 200 shares defying today’s sell-off to surge higher appeared first on The Motley Fool Australia.

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More reading

• Hoping to bag the boosted Coles dividend? Here’s what you need to do
• Here are 5 ASX 200 shares going ex-dividend tomorrow
• Keen to pocket the Woolworths dividend? You’d better be quick!
• 5 ASX 200 shares turning ex-dividend on Wednesday
• 2 ASX 200 dividend shares to buy now according to analysts

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 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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Earnings season is officially over for S&P/ASX 200 Index (ASX: XJO) shares and, as always, it brought with it heaps of dividend-related news.

Plenty of dividend hikes and special cash offerings were declared in August, but new analysis shows the market saw an above average amount of dividend cuts.

So, how did the market’s biggest dividend shares stack up against the competition? Let’s take a look.

How did ASX 200 dividend shares stack up in August?

The 2022 August reporting season occurred against a backdrop of volatility in global equity markets, mostly driven by soaring inflation and rising rates across much of the world.

And that may have influenced ASX 200 dividend payers. CommSec analysis found dividends were down across the index last month as cash levels slipped and many companies balanced payouts against growth.

The index’s aggregate dividends fell 6.1% to a total of $42.3 billion in August after rising 5.9% in February. Just 61% of ASX 200 companies boosted payouts last month while 27.4% dropped them.

Here’s how some of the market’s biggest dividend payers stacked up in the earnings season just been.

BHP Group Ltd (ASX: BHP)

BHP dropped its final dividend to US$1.75 in financial year 2022, marking a 12.5% year-on-year decrease.

However, its total dividends for financial year 2022 ended up 8% higher than those of financial year 2021 at US$3.25 per share.

Woodside Energy Group Ltd (ASX: WDS)

ASX 200 energy giant was a major dividend winner in August, more than tripling its half-year payout to US$1.09 per share.

Last month’s earnings marked the first from the company since it merged with BHP’s petroleum assets earlier this year.

Rio Tinto Limited (ASX: RIO)

Rio Tinto technically didn’t participate in the August earnings season, instead dropping its half-year results in late July.

However, its notable dividend dump made it worthy of this list. The company dropped its interim dividend by 52% to $3.837 per share.

Woolworths Group Ltd (ASX: WOW)

Sadly, Woolworths also cut its dividend. The company’s full-year payout was slashed to 92 cents per share after it declared a 35-cent final dividend.

Wesfarmers Ltd (ASX: WES)

Finally, ASX 200 retail-focused giant Wesfarmers posted a final dividend of $1 per share – marking an 11% year-on-year increase after a period of strong profits.

The post How did ASX 200 dividend shares stack up in August? appeared first on The Motley Fool Australia.

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More reading

• Reason for hope as ‘worst month of the year’ starts off badly
• 3 mining ASX shares ripe for buying now: experts
• Why is the BHP share price sinking 8% today?
• How I’d invest $20,000 in ASX shares today if I had to start from scratch
• Do Woodside shares still have more upside to come from the company’s BHP purchase?

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 Wesfarmers 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 iCandy Interactive Ltd (ASX: ICI) share price is flying 19.74% higher today to 9.1 cents after the company posted its results for the first half of FY22.

The ASX-listed freemium mobile games developer’s shares are currently trading for 9.1 cents each after closing on Wednesday at 7.6 cents.

Let’s check if the iCandy result is as sweet as it sounds.

What did iCandy report in 1H FY22?

Here is a snapshot of the key highlights for 1H FY22, which are sending the iCandy share price through the roof today.

• Revenue skyrocketed 1,600% from $0.93 million in 1H FY21 to $15.69 million in 1H FY22
• Earnings before interest, taxation, depreciation and amortisation (EBITDA) jumped to a record $4.41 million — the first time it has achieved profitability
• Net loss reversed from $1.19 million in 1H FY21 to a net profit after tax (NPAT) of $0.23 million in 1H FY22
• Current cash balance of $28.3 million

The astronomical jump in revenue was due to iCandy’s new subsidiary, Lemon Sky Studios. This game and animation studio is known for developing games such as Call of Duty Infinite Warfare, Need for Speed Hot Pursuit, Spider-Man and Marvel’s Avengers.

Lemon Sky Studios has assisted iCandy with developing three non-fungible token (NFT) Generative Art projects, as well as nine NFT/Metaverse gaming projects.

ICandy paid $44.5 million comprised of cash and shares for this acquisition.

Prior to this, iCandy also acquired 51% of Storms, a Southeast Asian-based game developer.

ICandy’s ultimate goal is to become the leading integrated metaverse gaming platform globally.

Due to the acquisitions, iCandy’s employee expenditures lifted from $0.3 million in 1H FY21 to $3.05 million in 1H FY22. This was the biggest uptick in operational expenses.

Operating cash flow went up from negative $1.06 million in 1H FY21 to $3.86 million in 1H FY22. However, iCandy spent $21.3 million in cash on acquisitions for 1H FY22.

What else happened in 1H FY22?

In March, iCandy announced its NFT project with Froyo Games and is expected to be finished in the last quarter of FY22.

ICandy is still developing its signature metaverse game Metal Genesis and hopes a playable demo will be ready by the last quarter of FY22.

Metal Genesis is an armoured robo-suit war machine-themed and player-vs-player metaverse virtual world game being developed by Lemon Sky Studios.

Management confident about outlook

ICandy management advised it has a pipeline of three years for work. Management plans to lift the company headcount by 20% by the end of the year.

Outside of game development, iCandy is seeing demand for animation development services from global streaming and content providers.

Management said it expects the recent revenue trend to continue.

iCandy share price snapshot

In the last year, the iCandy share price has risen by 53% but has dropped 8% in the past month. In contrast, the S&P/ASX 200 Index (ASX: XJO) is down 9% in the last year and 2% in the last month.

The market capitalisation of iCandy is around $113 million.

The post Guess which ASX share is booming on 1600% revenue growth appeared first on The Motley Fool Australia.

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More reading

• How did ASX 200 dividend shares stack up in August?
• Guess which ASX rare earths share is rocketing 13% on a ‘resounding success’. Hint: not Lynas
• Why is the Whitehaven share price burning lower on Thursday?
• How did the Westpac share price beat the other ASX 200 banks in August?
• The Pilbara Minerals share price surged 30% in August. What now?

Motley Fool contributor Raymond Jang 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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ASX rare earths shares have been among the top performers over the past 12 months.

Lynas Rare Earths Ltd (ASX: LYC) shares, for example, are up 31% since this time last year.

But while Lynas is slipping today, down 0.7%, it’s another ASX rare earths miner that’s shooting higher.

Namely, American Rare Earths Ltd (ASX: ARR), which is up 6.4% at the time of writing but went 12.5% higher in earlier trading.

Why is this ASX rare earths share rocketing today?

Investors are bidding up the American Rare Earths share price today after the company reported a 328% increase to the exploration target at its Halleck Creek project.

The JORC-compliant exploration target estimate is based on the explorer’s latest surface sampling and 2022 maiden drilling results.

Located in the state of Wyoming in the United States, American Rare Earths said its new estimates confirm the potential for Halleck Creek to be one of the largest rare earths projects in the US.

According to the release, the new exploration targets outline between 1.01 billion tonnes and 1.27 billion tonnes of rare earths mineralised rocks. That’s up more than three-fold from the previously reported targets of 308 million tonnes to 385 million tonnes.

The miner noted that the potential quantity and grade of its Halleck Creek resource are conceptual in nature. It said that to date there has been “insufficient exploration to estimate a Mineral Resource” at the project.

Commenting on the upgraded estimates, American Rare Earths CEO Chris Gibbs said:

The Halleck Creek project is shaping up to become a world class asset. The maiden drill campaign was a resounding success, and the new exploration target is massive. Assay results exceeded our expectations with consistent rare earth mineralisation observed throughout the deposit.

We continue to expand the project footprint and the deposit remains open at depth and laterally.

How has the ASX explorer been tracking?

Like many ASX rare earths shares, the American Rare Earths share price has been a strong performer over the past 12 months, up 39%.

That compares to a full-year loss of 9% posted by the All Ordinaries Index (ASX: XAO).

The post Guess which ASX rare earths share is rocketing 13% on a ‘resounding success’. Hint: not Lynas appeared first on The Motley Fool Australia.

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More reading

• Down 24% since April, have investors fallen out of love with Lynas shares?
• Top ASX shares to buy in September 2022
• 5 ASX shares that could rocket from a rare earths crisis: expert
• Guess which ASX All Ords share rocketed 15% on a rare earths deal with Twiggy Forrest
• Lynas share price lifts off on rocketing FY22 profits

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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You may be wondering why the Whitehaven Coal Ltd (ASX: WHC) share price is tumbling 2.84% to $7.78 today.

With the earning seasons wrapped up for most of the companies on the ASX, Whitehaven is now trading ex-dividend.

This comes after the coal producer delivered a robust full-year result last month, reporting a record $1.95 billion profit.

Subsequently, the board opted to declare a mammoth fully franked dividend of 40 cents per share.

Below, we take a closer look at Whitehaven’s latest dividend and when shareholders can expect payment.

Shareholders lock in Whitehaven’s huge final dividend

Following the company’s record performance, investors are selling off Whitehaven shares after securing the final dividend.

If you bought the company’s shares before market close yesterday and held onto them until this morning, you’ll be eligible for the dividend.

On 16 September, you should check your bank account as that’s when Whitehaven will make the dividend payment.

In case you were wondering, there’s no dividend reinvestment plan (DRP) currently being offered.

During the first half of FY 2023, Whitehaven aims to complete the 10% buyback within its previously announced cap of $550 million. The board will seek shareholder approval to increase its share buyback programme at the company’s annual general meeting in October.

The full-year dividends totalling $449 million and the $550 million buy-back represent a total payout ratio of 51% of FY 2022 net profit after tax (NPAT).

Whitehaven share price summary

Since the beginning of 2022, the Whitehaven share price has rocketed 196% on the back of favourable coal prices.

In comparison, the S&P/ASX 200 Energy Index (ASX: XEJ) is up 37% over the same timeframe.

Whitehaven shares reached an all-time high of $8.17 on Tuesday before retracing yesterday and today.

Based on today’s price, Whitehaven commands a market capitalisation of approximately $7.61 billion and has a dividend yield of 5.19%.

The post Why is the Whitehaven share price burning lower on Thursday? appeared first on The Motley Fool Australia.

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More reading

• These were the best performers on the ASX 200 in August
• Looking to get your hands on the monster Whitehaven dividend? Read this
• 3 popular ASX 200 shares going ex-dividend tomorrow
• ASX dividend windfall continues but it’s not just Woodside and ASX 200 energy stocks splashing the big cash
• 3 ASX 200 energy shares smashing multi-year highs on Tuesday

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 Westpac Banking Corp (ASX: WBC) share price ended August in the green — the only major ASX bank share to do so from the close of July trading.

Westpac gained 0.46% to close the month at $21.61 and hit an intra-month high of $22.66. This share price outperformed all other major bank shares over this period, with Australia & New Zealand Banking Group Ltd (ASX: ANZ) down 0.3% to $22.83 and National Australia Bank Ltd (ASX: NAB) down 0.03% to $30.60.

Westpac also beat the performance of Commonwealth Bank of Australia (ASX: CBA) by a wide margin — CBA shares slumped 3.27% to $100.77 each.

Additionally, Westpac beat the S&P/ASX 200 Banks Index (ASX: XBK), which made a 1.51% loss for the month.

Let’s go over what happened amid the surge in green for the Westpac share price.

How did Westpac outperform the other ASX banking shares?

The banking giant released little price-sensitive news to support the outperformance of the Westpac share price.

The only announcement of note was the bank’s Q3 update, which it posted on August 16. However, it was not well received, and shares dipped 1% that day.

But in better news, brokers have been bullish on the Westpac share price.

Goldman Sachs believed Westpac could hit a new 52-week high over the next year and gave it a price target of $26.55, implying a 25% potential upside on the current price of $21.18.

In their analysis, Goldman Sachs analysts believed Westpac to be undervalued due to its potential for net interest rising, cost reduction initiatives and digital mortgage loans. More broadly, Goldman Sachs also said Westpac’s cheap share price is a major reason it will increase in the future.

The broker said:

On our revised forecasts and target prices, WBC now offers the most upside of the banks over the next 12 months. Beyond this, we note the stock is trading at a 20% discount to peers, versus the historic average 2% discount.

Additionally, the team at Citi is also bullish on the Westpac share price. A recent note revealed that its analysts have a buy rating and $29 price target on its shares.

Investment bank Morgan Stanley stated that it expects Westpac to pay fully franked dividends per share of $1.25 in FY22 and $1.30 in FY23. The company’s current quarterly dividend amount stands at 30 cents per share.

Westpac share price snapshot

The Westpac share price is down almost 1% year to date and 19% over the past 12 months. By comparison, the S&P/ASX 200 Index (ASX: XJO) is down around 8% and 9%, respectively, over the same timeframes.

It should be noted that NAB is the only one of the big four banks to record gains over those periods, up 4% and 6%, respectively. The ANZ share price is the worst performer, down 18% year to date and 19% in a year.

Westpac has a market capitalisation of $75.66 billion.

The post How did the Westpac share price beat the other ASX 200 banks in August? appeared first on The Motley Fool Australia.

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More reading

• What’s the outlook for ASX 200 bank shares in September?
• AMP share price lifts amid Westpac deal rumours
• What’s the outlook for the Westpac share price in September?
• Are ANZ shares really offering the highest dividend yield of the big four?
• Goldman Sachs names 4 reasons the Westpac share price is cheap

Citigroup is an advertising partner of The Ascent, a Motley Fool company. Motley Fool contributor Matthew Farley 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 recommended Westpac Banking 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 Pilbara Minerals Ltd (ASX: PLS) share price seems impervious to the market sell-off, but after a 30%-plus rally over the past month, can the lithium miner rise further?

Sentiment towards the ASX lithium share is on a high following the August reporting season. That was when the miner posted a 577% uplift in FY22 revenue to around $1.2 billion due to high lithium prices.

That in turn pushed its gross margin up by a stunning 18.5 times to $853.5 million.

The Pilbara Minerals share price continues to outperform

The Pilbara share price continues to bask in the afterglow of the company’s results. It’s gained 14.8% since the miner reported FY22 earnings on 23 August.

The shares are a little down today, losing 0.27% to $3.64 so far. The S&P/ASX 200 Index (ASX: XJO) has slumped nearly 2%, at the time of writing.

A negative lead from Wall Street triggered the drop with nearly all ASX sectors in the red today.

Why ASX lithium shares are in vogue

What is also helping is that Pilbara isn’t the only lithium producer to report strong results. This reinforces confidence that lithium prices could stay higher for longer.

Further, lithium prices haven’t suffered a major correction like many other commodities, such as iron ore and copper.

These commodities have been hit by recession fears, but not lithium. Experts are predicting strong growth in the demand for electric vehicles (EVs) and lithium is a key ingredient in EV batteries.

If anything, some experts — as well as Allkem Ltd (ASX: AKE) — are forecasting the lithium market to remain in deficit for years to come.

Not all good news

Another bull is the analyst team at Macquarie. The broker has a 12-month target of $5.60 on the Pilbara Minerals share price.

However, you won’t find consensus among the experts. Some believe the lithium price is set for a correction as the market is underestimating the amount of new supply that can come onto the market.

Then there is the threat of new battery technologies, like graphene, that do not require lithium. The technology is reported to be longer lasting and more environmentally friendly than lithium.

Pilbara share price snapshot

It’s anyone’s guess how the Pilbara share price and other ASX lithium shares will trade over the coming months. But as the saying goes about ‘making the trend your friend’, the path of least resistance appears to be up for the sector.

The Pilbara share price has gained 65% over the past year. Allkem jumped 54% and Mineral Resources Limited (ASX: MIN) climbed 21%.

In comparison, the ASX 200 is down 9% over the period.

The post The Pilbara Minerals share price surged 30% in August. What now? appeared first on The Motley Fool Australia.

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More reading

• How I’d invest $20,000 in ASX shares today if I had to start from scratch
• These were the best performers on the ASX 200 in August
• Here are the 3 most heavily traded ASX 200 shares on Wednesday
• Could the Pilbara Minerals share price really offer more than 50% upside in FY23?
• Here are the top 10 ASX 200 shares today

Motley Fool contributor Brendon Lau has positions in Allkem Limited, and Pilbara Minerals Ltd. 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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