Category: Stock Market

Looking at the recent Commonwealth Bank of Australia (ASX: CBA) share price, you wouldn’t think investors have been in a selling mood. CBA shares are well in the green today, recording a gain of 0.73% at the time of writing at $106.69 a share. That puts CBA up just over 4% in 2022 so far, as well as an impressive 14.1% since the start of March. It also means CBA is now up just over 24.5% over the past 12 months. 

And yet, many investors have been cashing out of their Commonwealth Bank holdings. We know this because of Gemma Dale of NABtrade. Ms Dale joined Motley Fool Chief Investment Officer Scott Phillips on Ausbiz recently to discuss the share trading trends that she is seeing in NABtrade customer accounts.

Why are investors selling out of CBA shares?

Dale told Ausbiz that ASX banks like CBA still make up very large proportions (35-40%) of many investors’ share portfolios, helped more recently by “massive buying” during the COVID crash of 2020. However, she also said that NABtrade has noticed some strong retail selling in ASX banks of late, particularly with CBA and National Australia Bank Ltd. (ASX: NAB). Here’s some of what she said: 

So now with NAB above $31, the selling is unbelievable, 85%-plus sell on NAB… why wouldn’t [investors] take some profits at this point? Also, they’ve seen NAB above that level and fall back away before so they’ve taken the opportunity to lock that in… CBA at $107, that was a 90%-plus sell… It’s mostly trimming at this level. [Investors are] pretty keen to lock in those numbers.

So Ms Dale argues that many retail investors (nine in ten at one point) are selling out of CBA now that the share price is approaching the bank’s all-time high of just above $110 a share. That could explain why we’ve seen some volatility with the CBA share price over the past week. Indeed, CBA shares have touched close to $106 and gone as high as $107.50 in just the past few days. And remember, this is a company that is still up 14% over this month alone. That would be enough to give more than a few investors itchy fingers. 

We’ll have to wait and see what the CBA share price does next and whether it is on track to beat that all-time high of $120.19 that we saw back in August last year. 

In the meantime, the current Commonwealth Bank of Australia share price gives CBA a market capitalisation of $182 billion, with a dividend yield of 3.52%. 

The post Why have investors been selling off CBA shares? appeared first on The Motley Fool Australia.

More reading

• Top brokers name 3 ASX shares to sell next week
• How much is the next BHP dividend?
• How much were CBA shares when they first floated?
• Top brokers name 3 ASX shares to sell today
• Why are ASX 200 bank shares underperforming on Thursday?

Motley Fool contributor Sebastian Bowen owns National Australia Bank Limited. 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 Bruce Jackson.

from The Motley Fool Australia https://ift.tt/dFJxvsn

It’s a good day for ASX All Ordinaries Index (ASX: XAO) shares, with both the All Ords and the S&P/ASX 200 Index (ASX: XJO) in the green.

Right now, the All Ords is up 0.31% while the ASX 200 has gained 0.41%.

But some stocks are doing better than others. These 3 ASX All Ords shares are trading at their highest point in at least 12 months today.

Let’s take a look at what has helped drive them higher.

3 ASX All Ords shares launching to new 52-week highs

Arafura Resources Limited (ASX: ARU)

Alls Ords newbie Arafura Resources has hit a new 52-week high on Monday, surging to trade for 34.5 cents.

Its gains come despite no news from the company. However, it was recently added to the benchmark index. The ASX rare earths share will be celebrating the anniversary of its first week on the All Ords today.

That might have boosted trading of its shares lately, which could have helped support its record share price.

Additionally, the company’s been on a mostly green streak since it announced it had received $30 million of grant funding for the construction of its rare earths separation plant in the Northern Territory a fortnight ago.

Whitehaven Coal Ltd (ASX: WHC)

The Whitehaven Coal share price also hit a new 52-week high on Monday, gaining 1.1% to reach $4.53 in intraday trade.

It comes after the company’s stock was one of the ASX 200’s best performers last week. It gained 12% amid positive results from its peer New Hope Corporation Limited (ASX: NHC).

Additionally, its share price may have been boosted by news last week the company was asked to supply at least 70,000 tonnes of coal to Ukraine.

The coal will be a donation from the Australian government. The federal government will buy the black rocks from Whitehaven and pay for their delivery to Ukraine.

In a statement, several Morrison Government ministers said the donation followed a request for assistance from the Ukrainian Government. The coal is needed to support the European country’s power grid.

However, the donation is not without controversy. According to The Guardian, it’s unclear whether Whitehaven ­– reportedly a Liberal Party donor – was the only major coalminer approached to fill the donation.

Firefinch Ltd (ASX: FFX)

Finally, ASX All Ords stock Firefinch is also seeing its share price moving upwards today.

In fact, it reached a new 52-week high of $1.015 in intraday trade.

The gain comes after the company announced final conditions for the joint venture between Firefinch and Jiangxi Ganfeng Lithium Co have been met.

The joint venture company now holds the exploitation licence for the Goulamina Lithium Project in Mali in western Africa.

Now, the Firefinch can divest its holding in the joint venture to a spin-off company – Leo Lithium Limited.

A timeline for the demerger is expected to be released in the coming weeks. Firefinch shareholders will get to have their say on the plan after that.

The post 3 ASX All Ords shares smashing 52-week highs today appeared first on The Motley Fool Australia.

More reading

• ‘It’s where all the real value-add is’: Why has this ASX rare earths share soared 79% in a month?
• Why APM, Firefinch, Rio Tinto, and Soul Patts shares are charging higher today
• Up 350% in a year, here’s why the Firefinch (ASX:FFX) share price is flying higher on Monday
• These were the best performing ASX 200 shares last week
• Why Allkem, Firefinch, JB Hi-Fi, and Piedmont Lithium are charging higher

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

from The Motley Fool Australia https://ift.tt/roKCsbd

The Arafura Resources Limited (ASX: ARU) share price has taken off in the past month.

This ASX rare earths share has rocketed 79% since market close on 28 February. In today’s trade alone, the company’s shares are soaring more than 15% higher at the time of writing.

Let’s take a look at why Arafura is having such a good month.

Rare earth deposit

The Arafura Resources share price has stormed ahead since receiving a $30 million grant from the federal government. The funding will go towards a $90.8 million rare earth separation plant at the company’s Nolans project near Alice Springs in the Northern Territory. Arafura’s shares have surged 65% since the announcement on March 16.

Arafura Resources believes it can provide 5% of the world’s rare earths, the ABC reported recently. Managing director Gavin Lockyer sees the separation plant as pivotal for the industry. He told the ABC:

It’s where all the real value-add is done to our product. If you don’t build a separation plant, then that product will have to go offshore – namely China – for downstream processing.

In announcing funding for the project, the federal government described the plant as “the first of its kind rare earth separation plant in Australia and only the second outside China”. In a statement signed off by Prime Minister Scott Morrison and Energy Minister Angus Taylor, the government said:

The $90.8 million project, located in the Northern Territory, will leverage Australia’s mineral processing expertise to develop rare earth separation technology not currently available here now, creating 650 jobs at the peak of construction and new high-value export opportunities.

Electric vehicle demand

The Arafura share price may also be lifting amid growing consumer sentiment towards electric vehicles (EVs). Rare earths are critical in the manufacture of EVs. As my foolish colleague James noted recently, there is optimism higher oil prices will accelerate the shift to electric vehicles. The crude oil share price has surged 10.28% in a month, Trading Economics data reveals.

In other news, Arafura was added to the All Ordinaries Index (ASX: XAO) in March.

Arafura Resources share price snapshot

The Arafura Resources share price has surged 84% in the past year, while it has soared 62% year to date.

For perspective, the S&P/ASX 200 Index (ASX: XJO) index has returned about 9% over the past year.

The company has a market capitalisation of about $527 million based on the current share price.

The post ‘It’s where all the real value-add is’: Why has this ASX rare earths share soared 79% in a month? appeared first on The Motley Fool Australia.

More reading

• Why Arafura, Block, Magellan, and Qantas shares are storming higher
• Cash to splash: Why the Arafura Resources (ASX:ARU) share price is leaping 23% today
• Why is the Arafura Resources (ASX:ARU) share price leaping 8% today?

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 Bruce Jackson.

from The Motley Fool Australia https://ift.tt/8vag52V

The Cochlear Limited (ASX: COH) share price is backtracking on Monday as it trades ex-dividend.

At the time of writing, Cochlear shares are swapping hands for $218.05, down 2.16%.

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

Shareholders set eyes on Cochlear interim dividend

Following the company’s half year results, investors are eyeing Cochlear shares as they go ex-dividend today.

Typically, one business day before the record date, the ex-dividend date is when investors must have purchased shares. If the investor does not buy Cochlear shares before this date, the dividend will go to the seller.

Historically, when a company reaches its ex-dividend day, its shares tend to fall in proportion to the dividend paid out. This is because investors tend to sell off the company’s shares after securing the dividend.

When can shareholders expect to be paid?

For those eligible for Cochlear’s interim dividend, shareholders will receive a payment of $1.55 per share on 21 April. Unfortunately, the dividend is unfranked which means investors will miss out on the imputed tax credits.

The latest interim dividend reflects a 35% lift from the $1.15 declared in the prior comparable period.

The payout ratio is 65% of the company’s underlying net profit.

Cochlear share price summary

Since the beginning of 2022, Cochlear shares are around 2% higher in the green.

Cochlear shares reached a 52-week low of $178.55 in January, before surging higher over the following weeks.

Based on today’s price, Cochlear commands a market capitalisation of roughly $14.29 billion and has a trailing dividend yield of 1.17%.

The post Why is the Cochlear (ASX:COH) share price sliding today? appeared first on The Motley Fool Australia.

More reading

• 3 ASX healthcare shares rated as buys by a leading broker
• Keen to bank the Cochlear (ASX:COH) dividend? Here’s what you need to know
• The Cochlear (ASX:COH) share price has bounced back from the pandemic. Are there more gains to come?
• Cheap ASX share better than Woolworths (ASX:WOW)– and it pays dividends
• The next ASX share ready to join the 20-bagger club: expert

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. owns and has recommended Cochlear Ltd. The Motley Fool Australia has recommended Cochlear Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

from The Motley Fool Australia https://ift.tt/gUeMtIw

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on form again and charging higher. At the time of writing, the benchmark index is up 0.4% to 7,438 points.

Four ASX shares that have failed to follow the market higher today are listed below. Here’s why they are dropping:

Evolution Mining Ltd (ASX: EVN)

The Evolution share price is down 3% to $4.40. Investors have been selling this gold miner’s shares after it was the subject of a bearish broker note out of UBS. According to the note, the broker has downgraded Evolution’s shares to a sell rating with a $4.23 price target.

Fisher & Paykel Healthcare Corp Ltd (ASX: FPH)

The Fisher & Paykel Healthcare share price has continued its slide and is down a further 4% to $21.90. Investors have been selling this medical device company’s shares since the release of a trading update last week. Fisher & Paykel Healthcare advised that it expects FY 2022 operating revenue in the range of NZ$1.675 billion to NZ$1.70 billion. This represents a 13.7% to 15% year on year decline from NZ$1.97 billion in FY 2021. Management also warned that higher freight costs would impact margins.

St Barbara Ltd (ASX: SBM)

The St Barbara share price is down 3.5% to $1.46. This morning the gold miner revealed the impact of COVID-19 disruptions at its Simberi operation. According to the release, Simberi is now forecast to produce between 25-30koz at an all-in sustaining cost (ASIC) of $3,200-$3,600 per ounce in FY 2022. As a result, total FY 2022 production is expected to come to 275-290koz and AISC of $1,750-1,870 per ounce. This compares to its original (previously withdrawn) guidance of 305-355koz with an ASIC of $1,710 to $1,860 per ounce.

Zip Co Ltd (ASX: Z1P)

The Zip share price is down almost 4% to $1.46. Investors have been selling Zip and other tech shares on Monday following a poor night of trade on the Nasdaq index on Friday. In addition, futures contracts are pointing to another decline for the tech-focused index tonight. The S&P ASX All Technology index is down 2.2% at the time of writing.

The post Why Evolution, Fisher & Paykel Healthcare, St Barbara, and Zip shares are falling appeared first on The Motley Fool Australia.

More reading

• Why the St Barbara (ASX:SBM) share price is slipping today?
• These are the 10 most shorted ASX shares
• 3 ASX growth shares down more than 50% in a year
• These were the worst performing ASX 200 shares last week
• Do Zip shares pay dividends?

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. owns and has recommended ZIPCOLTD FPO. 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 Bruce Jackson.

from The Motley Fool Australia https://ift.tt/Fmh25yl

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.

There are about 724 billionaires in the U.S., according to Forbes, and more than 2,700 globally. They come from various backgrounds and made their fortunes in various ways. But when you look at their attitudes and behaviors as a whole, there are some traits many of them have in common.

While few of us will ever become billionaires, it may be helpful to know what some of those common traits are to prepare for our own journey to success and financial independence. Here are three key things that billionaires do that many of us don’t, in the words of the billionaires themselves.

1. They’re frugal

“Do not save what is left after spending, but spend what is left after saving,” Berkshire Hathaway Chairman and Chief Executive Officer Warren Buffett once said. This quote encapsulates a mindset that helped Buffett become one of the world’s richest men. You’ve heard the stories — Buffett eats at McDonald’s, lives in the same house he bought in Omaha in 1958 for $31,500, buys used cars, and used a cheap flip phone until a couple of years ago.

But these are habits that allowed him to save more and invest more, which drove his wealth. He’s not alone among frugal billionaires. Microsoft co-founder Bill Gates, who admitted a few years ago to wearing a $10 watch, said his frugal habits were ingrained in him as a young man. “My 20-year-old self is so disgusted with my current self. You know, I was sure I would never fly anything but coach and you know, now I have a plane,” Gates said a couple of years ago, reflecting upon the frugality that made him what he is today.

And Jeff Bezos, founder, former CEO, and executive chair at Amazon, said frugality, for him, was the mother of innovation. “I think frugality drives innovation, just like other constraints do. One of the only ways to get out of a tight box is to invent your way out.”

2. They think big

“Life can be so much broader, once you discover one simple fact, and that is that everything around you that you call ‘life’ was made up by people who were no smarter than you. And you can change it, you can influence it, you can build your own things that other people can use. Once you learn that, you’ll never be the same again,” said the late Steve Jobs, founder of Apple.

Jobs lived this, changing the world with his innovations at Apple. Now, this doesn’t mean we have to go out and invent the next world-changing technology, but experts say that most billionaires think big and aren’t deterred in their endeavors by perceived constraints, whether that’s their education level or something else. Obviously, a lot of hard work and strategic thinking goes into being successful in any venture, but it all starts with having that positive mindset and thinking big, as Jobs described.

Or, as Henry Ford, founder of automaker Ford once said, “If you think you can do a thing or think you can’t do a thing, you’re right.”

3. They’re not afraid to fail

“My dad encouraged us to fail. Growing up, he would ask us what we failed at that week. If we didn’t have something, he would be disappointed. It changed my mindset at an early age that failure is not the outcome, failure is not trying. Don’t be afraid to fail,” said Sara Blakely, founder of hosiery and women’s underwear brand Spanx, who, in 2012, became the world’s youngest, self-made female billionaire.

This philosophy, ingrained in her at a young age, constantly pushed her out of her comfort zone to take on new challenges and risks. Many people avoid actions or activities for fear of failure, but Blakely said that not being afraid to “fail” allowed her the freedom to constantly try new things until she hit on that billion-dollar idea. It helped her avoid the true failure of not trying.

One thing you have in common with billionaires

These are just a few common traits but, certainly, much more goes into becoming wealthy and successful. But it’s really not about becoming a billionaire — it’s about being successful in however you define success. Many billionaires say they weren’t motivated by money, but rather it was an outgrowth of their passion and purpose.

As for the one thing we all have in common, Richard Branson, founder of Virgin Galactic, among other ventures, said it best: “One thing is certain in business, you and everyone around you will make mistakes.” But it is from those mistakes, whether it is in business or investing, that you learn, adapt, and create new opportunities for success.

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

The post 3 differences between you and billionaires, and 1 thing you have in common appeared first on The Motley Fool Australia.

More reading

• Why Apple stock looks tasty today
• Why investing in shares still offers the ‘best return potential’ in 2022: expert
• 1 investing strategy to grow your money like magic
• 2 Warren Buffett stocks to buy and hold if the market crashes
• Is Warren Buffett’s best in the past?

John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Dave Kovaleski owns Ford. The Motley Fool owns and recommends Amazon, Apple, Berkshire Hathaway (B shares), and Microsoft. The Motley Fool recommends the following options: long January 2023 $200 calls on Berkshire Hathaway (B shares), long March 2023 $120 calls on Apple, short January 2023 $200 puts on Berkshire Hathaway (B shares), short January 2023 $265 calls on Berkshire Hathaway (B shares), and short March 2023 $130 calls on Apple. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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

from The Motley Fool Australia https://ift.tt/zvx6Nc5

The Webjet Limited (ASX: WEB) share price has flown in circles over the last decade.

Before 2020, the online travel agent’s shares had a healthy upward trajectory. However, the emergence of COVID-19 put the world at a standstill, with restrictions placed on both domestic and international travel.

This severely impacted Webjet’s operations, sending the business into deep hibernation mode.

Visibility around travel remained unclear for two years. However, things have finally started to take a turn.

Below, we take a look at the power of long-term investing. We will calculate how much you would have made if you invested $10,000 in Webjet shares a decade ago.

What if you had invested $10,000 in Webjet shares 10 years ago?

If you had invested $10,000 in Webjet shares in 2012, you would have bought them for $2.18 a pop. This would have given you approximately 4,587 shares, without topping up during the downward periods.

Fast-forward to today and the current Webjet share price is $5.58. This means that those 4,587 shares would be worth $25,595.46. When looking at percentage terms, this implies a gain of around 155%.

While this is a solid return, let’s not forget that Webjet shares have experienced some severe turbulence en route.

In 2020, the company’s share price plunged from around the $13 mark in February to a multi-year low of $2.25 by April. This represents a massive 82% fall in value over just a few weeks.

Nonetheless, if you were brave enough to hold tight, Webjet has slowly been on the mend in the past two years.

What about the dividends?

Webjet has made 17 dividend payments to shareholders from 2012 to 2022.

Adding those 17 dividends payments gives us an amount of $1.36 per share. Calculating the number of shares owned against the total dividend payment gives us a figure of $6,238.32.

When putting both the initial investment gains and dividend distribution, an investor would have roughly $31,833.78, or a $21,833.78 profit.

In comparison, investing the same amount in the ASX 200 would have netted you a total of $17,125.35. Minus the $10,000 that was parked, this gives you a $7,125.35 profit.

As you can see, investing in Webjet would have more than tripled what you would have gotten from investing in the benchmark index.

The post Despite the COVID crash, here’s what $10,000 invested in Webjet (ASX:WEB) shares 10 years ago would be worth now appeared first on The Motley Fool Australia.

More reading

• These are the 10 most shorted ASX shares
• Analysts name 2 excellent ASX growth shares to buy and hold
• Why has March been such a lousy month for the Webjet (ASX:WEB) share price?
• Why has the Webjet (ASX:WEB) share price surged 9% in two weeks?
• These are the 10 most shorted ASX shares

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 recommended Webjet Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

from The Motley Fool Australia https://ift.tt/xBv6k5T

The APA Group (ASX: APA) share price is surging higher on Monday, hitting a new 52-week high in the process.

In intraday trade the company’s stock rose to trade at $10.62 ­– the highest it’s been since November 2020.

At the time of writing, the APA share price is $10.54, 1.74% higher than its previous close.

For context, the S&P/ASX 200 Index (ASX: XJO) has gained 0.45% on Monday. Meanwhile, the All Ordinaries Index (ASX: XAO) is up 0.37%.

The energy infrastructure company’s gains come after an update on a hydrogen feasibility study it’s involved in.

Let’s take a closer look at what’s going on with the APA share price today.

Is this helping to boost APA’s stock today?

The APA share price is taking off today amid positive results from a feasibility study conducted in Australia’s Mid-West region.

The study is investigating the potential to produce clean hydrogen and ammonia. It’s also developing a multi-staged pathway to the commodity’s production.

It is made up of 4 feasibility studies, of which 2 are now completed, yielding positive results. The remaining 2 studies are expected to be finished in the coming weeks.

Some of the feasibility studies are being funded by a consortium made up of Pilot Energy Ltd (ASX: PGY), APA, and Warrego Energy Ltd (ASX: WGO).

So far, they’ve confirmed the opportunity to create a large-scale clean hydrogen production project for domestic and international markets.

Such a project would use carbon capture and storage and renewable energy generation.

Additionally, the S&P/ASX 200 Utilities Index (ASX: XUA)’s performance might be helping to buoy the APA share price on Monday.

The sector is recording a 0.74% gain at the time of writing. Right now, APA is its best performer.

APA share price snapshot

The APA share price has been outperforming the ASX 200 through 2022 so far.

The company’s shares have gained 3% since the start of this year, while the ASX 200 has fallen around 2%.

However, over the last 12 months, the company’s stock is up just 4% compared to the ASX 200’s 9% gain.

The post Why did the APA (ASX:APA) share price just ink a new 52-week high? appeared first on The Motley Fool Australia.

More reading

• The APA (ASX:APA) share price is up $1 in 7 years. Have the dividends been worth it?
• Are analyst upgrades on the way for APA (ASX:APA) shares?
• Here’s why the APA (ASX:APA) share price could be a top dividend share

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 owns and has recommended APA Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

from The Motley Fool Australia https://ift.tt/odYNlJL

The Gold Road Resources Ltd (ASX: GOR) share price is lower today after the company released its financial results for the full year ended 31 December 2021.

At the time of writing, the Gold Road Resources share price is trading at $1.64, a 2.95% drop from the open this morning.

Gold Road share price jumps on earnings growth

Key takeouts from the company’s earnings results on Friday include:

• Revenue from gold sales of $274.8 million, down from 2020 result of $294.7 million
• Average realised gold price of $2,210 per ounce on this revenue, down from $2,330 last year
• Gold sales of 124,335 ounces, down from 126,434 ounces year on year
• EBITDA for the 12-month period totalled $120.2 million, down from $170.6 million in 2020
• EBITDA margin of 44%, down 14 percentage points from 2020 margin of 58%
• Consolidated net profit after tax (NPAT) for the 2021 financial year of $36.8 million, down from $80.8 million in 2020
• 0.5 cents per share dividend fully-franked declared
• Basic earnings per share (EPS) of 4.18 cents – 9.19 cents last year.

What else happened in 2021 for Gold Road?

Earnings were a mixed result for Gold Road as sales came in stronger but didn’t pull through further down the income statement.

Much of this was seen at the operating level as operating cash flow for the 12 months was $89.2 million, down from $142.7 million in 2020.

As a result, the company’s margin on EBITDA of 44% was down 14 percentage points from the 2020 margin of 58%.

Not surprisingly, NPAT thinned by 54% year on year to just $37 million as earnings were compressed throughout the year.

Consequently, EPS was less than half of 2020’s result and group free cash flow for 2021 was $22.1 million, a substantial decrease from $105.5 million last year.

Management commentary

Speaking on the group’s full-year results, Gold Road Managing Director and CEO Duncan Gibbs said:

The year 2021 saw a significant increase in attributable reserves and resources, and positive progress from our exploration efforts at Yamarna. Net profit after tax was $36.8 million for 2021. The Company continued to return income to shareholders in the form of six-monthly dividend payments, and the Board has determined to pay a dividend for the six-months to 31 December 2021 of 0.5 cents.

What’s next for Gold Road?

The company says it has a “strong production outlook” in the coming periods. Its Gruyere asset remains on target to “grow annual production to a sustainable 350,000 ounces per annum by 2023”, the company says.

Meanwhile, it reports its attributable Ore Reserves “grew to 2.23 million ounces, whilst attributable Mineral Resources grew to 4.71 million ounces during 2021”.

Gold Road share price snapshot

In the last 12 months, the Gold Road Resources share price has spiked 36% and is up 6% year to date.

The post Profits slide 54% in FY21 sending Gold Road (ASX:GOR) share price tumbling on Monday appeared first on The Motley Fool Australia.

More reading

• Top brokers name 3 ASX shares to sell next week
• These were the worst performers on the ASX 200 last week
• Why these 2 ASX gold shares are charging higher today
• Top broker says this ASX share will surge another 17% amid soaring gold prices
• 3 ASX gold shares rocking new 52-week highs today

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 Bruce Jackson.

from The Motley Fool Australia https://ift.tt/SLuVqij

The Sayona Mining Ltd (ASX: SYA) share price is sitting at 10-year highs.

Shares in the ASX lithium explorer and producer closed yesterday at 23 cents. At the time of writing Sayona shares are trading at 24 cents, up 2.2%.

Indicating the amount of ASX investor interest in the company, CommSec data is that more than 81.6 million shares have been traded by lunchtime today.

A total of 2,152 trades have been executed, with a value of more than $19.5 million.

What’s driving ASX investor interest in the lithium share?

With no fresh news out of the company, there looks to be two factors helping push up the Sayona Mining share price today.

First, global demand for lithium to power the world’s ever-growing fleet of electric vehicles and home battery storage systems is ushering in a new era of rising lithium prices.

That strong lithium demand is an extra boost for Sayona Mining shares. It comes after the explorer earlier this month doubled its mineral resource from management’s previous estimates.

As The Motley Fool reported on the day, “Upgraded resource estimates now peg Sayona’s North American Lithium (NAL) and Authier projects at a combined measured, indicated, and inferred mineral resource of 119.1 million tonnes at 1.05% lithium oxide.”

Also likely offering a tailwind for the Sayona Mining share price is the miner’s recent inclusion in the All Ordinaries Index (ASX: XAO) and the S&P/ASX 300 Index (ASX: XKO).

That means that any funds tracking either of these indexes will now likely include Sayona shares. It also means that fund managers restricted to certain indexes, generally for reasons of minimal-sized market caps, can now trade in Sayona shares.

Sayona Mining share price snapshot

Sayona Mining shares are now up 68% in 2022 and up a whopping 488% over the past 12 months.

For some context, the All Ords has gained 10% over the last 12 months.

The post Why is the Sayona Mining (ASX:SYA) share price rocking a new 10-year high today? appeared first on The Motley Fool Australia.

More reading

• Why is the Sayona (ASX:SYA) share price getting so much love on Friday?
• 5 ASX mining shares smashing 52-week highs today
• Why Brickworks, JB Hi-Fi, Mesoblast, and Sayona shares are charging higher
• Why is the Sayona (ASX:SYA) share price rocketing 19% higher?
• Surging again: Why has the Sayona (ASX:SYA) share price rallied 46% in a month?

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 Bruce Jackson.

from The Motley Fool Australia https://ift.tt/J9EoskM