Category: Stock Market

Today, the S&P/ASX 200 Index (ASX: XJO) caught the wave of optimism that flowed on from a stellar showing on US markets last night. At the end of the session, the benchmark index finished 1.1% higher at 7,130.8 points.

The biggest contributors to the positive day were tech and financial shares. This mirrored the landscape of US shares last night, which saw the Nasdaq gain 3.6% by the closing bell. Meanwhile, miners and energy companies cooled off as their respective commodity prices experienced a pullback from recent highs.

However, the question is: which shares delivered the biggest returns to investors on the ASX today? Here are the top ten stocks that came through for investors:

Top 10 ASX shares countdown today

Looking at the top 200 listed companies, Paladin Energy Ltd (ASX: PDN) was the biggest gainer today. Shares in the uranium producer rallied another 11.04% on top of strong performance yesterday. The extended stretch upwards follows talks in the US on potentially sanctioning Russian uranium supply. Find out more about Paladin Energy here.

The next biggest gaining ASX share today was GQG Partners Inc (ASX: GQG). Interestingly, the global boutique asset management firm jumped 6.96% without any new information hitting the trading floors. Uncover the latest GQG Partners details here.

Today’s top 10 biggest gains were made in these ASX shares:

ASX-listed company	Share price	Price change
Paladin Energy Ltd (ASX: PDN)	$0.855	11.04%
GQG Partners Inc (ASX: GQG)	$1.23	6.96%
Flight Centre Travel Group Ltd (ASX: FLT)	$18.87	6.61%
Qantas Airways Ltd (ASX: QAN)	$4.93	5.79%
Eagers Automotive Ltd (ASX: APE)	$12.75	5.11%
Corporate Travel Management Ltd (ASX: CTD)	$22.22	5.11%
Premier Investments Ltd (ASX: PMV)	$27.56	4.99%
Pinnacle Investment Management Group Ltd (ASX: PNI)	$9.99	4.83%
James Hardie Industries Plc (ASX: JHX)	$44.45	4.61%
Zip Co Ltd (ASX: Z1P)	$1.705	4.60%

Our top 10 ASX shares today countdown is a recurring end-of-day summary to ensure you know which companies were making big moves on the day. Check-in at Fool.com.au after the market has closed during weekdays to see which stocks make the countdown.

The post Here are the top 10 ASX shares today appeared first on The Motley Fool Australia.

More reading

• These 3 ASX 200 shares are topping the volume charts on Thursday
• Why are ASX uranium shares having such a stellar day?
• Why Block, Myer, Paladin Energy, and Qantas shares are storming higher
• ASX 200 (ASX:XJO) midday update: Rio Tinto goes ex-div, tech and travel shares rebound
• Warning: Only 4 ASX shares just added to ASX 300 are profitable

Motley Fool contributor Mitchell Lawler has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended PINNACLE FPO and ZIPCOLTD FPO. The Motley Fool Australia owns and has recommended PINNACLE FPO. The Motley Fool Australia has recommended Corporate Travel Management Limited, Flight Centre Travel Group Limited, and Premier Investments Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Santos Ltd (ASX: STO) share price descended today in line with a drop in the broader energy index.

Santos shares fell by 2.44% to close at $7.59. For perspective, the S&P/ASX 200 Energy Index (ASX: XEJ) tumbled 2.48%.

Let’s take a look at what might have impacted Santos today.

Oil prices

The fall in the Santos share price followed a plunge in oil prices in overseas markets on Wednesday. This came after the United Arab Emirates expressed support for increasing production, the BBC reported.

Brent crude dropped 13.2% to $111.14 a barrel, the biggest fall since 21 April 2020. This followed weeks of soaring prices as a result of supply disruptions due to Russia’s invasion of Ukraine. However, Brent crude is now recovering and is up 3.5% to $115.03 per barrel, Bloomberg figures reveal.

The Woodside Petroleum Limited (ASX: WPL) share price also closed down 4.67% today.

Santos CEO shares views on energy market

Santos CEO Kevin Gallagher expressed concerns about energy prices in the future. Speaking at the Financial Review Business Summit, he said:

Unless there’s a change in government policies globally – particularly if we go down the route of sanctions on Russian oil – I just don’t see how the supply side can fill the gap in a meaningful time frame to address these high prices.

That feels to me like unless there’s another massive slowdown as a consequence of a massive recession or another pandemic we could be stuck with very high prices, unhealthily high prices, for some period of time.

Further commenting on the energy outlook, Gallagher warned pulling the plug on fossil fuels “is not going to speed up the transition” (to clean energy) and could smash the manufacturing industry. He said:

That wouldn’t be so much of a transition but a demolition of that sector. There’s got to be multiple decades to transition.

Analysts at Morgans have recently placed a $9 price target on Santos shares. That’s 18% more than the current Santos share price. The broker likes Santos due to its diversified earnings base and growth profile.

As my Foolish colleague Brooke reported, Firetrail Investments portfolio manager Blake Henricks also recently recommended buying Santos shares. He said the company was “inflation-protected” with huge cash flows.

Santos share price snapshot

The Santos share price has climbed 7% over the past year. In 2022, it is up 21%. In the past month, Santos shares have gained almost 2%, while they have dropped 1% in a week.

Santos has a market capitalisation of about $25.8 billion based on its current share price.

The post Santos (ASX:STO) share price slips but CEO warns ‘very high’ oil prices could be here to stay appeared first on The Motley Fool Australia.

More reading

• Why are ASX 200 oil shares taking such a beating today?
• 5 things to watch on the ASX 200 on Thursday
• Beach (ASX:BPT) share price up: Oil prices predicted to stay higher for longer
• 3 more of Morgans’ best ASX share ideas for March
• 5 things to watch on the ASX 200 on Wednesday

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.

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Bannerman Energy Ltd (ASX: BMN) is not a name you hear very much, but you might be interested to know that this ASX share has skyrocketed 31% so far this month.

So why would this company, now with a market capitalisation of $338 million, be popping up on the radar of some ASX investors?

The only relevant official announcement this month is that it will join the All Ordinaries Index (ASX: XAO). This means it is now one of the top 500 companies on the ASX.

That can have a minor impact on ASX share prices, as any inclusion in an index forces passive funds to buy those shares.

But that alone is unlikely to be worth a 31% hike in the stock price since the closing bell on 28 February.

What does Bannerman make, exactly?

The more likely reason lies in the commodity that Bannerman produces.

The company’s main business is in Namibia, where it is developing a mine that is forecast to start producing uranium in 2025.

“Our flagship Etango Project is one of the world’s largest undeveloped uranium assets,” reads the company website.

“It is located in the highly established uranium mining jurisdiction of Namibia and we have environmental permits in place for development.”

We have all heard many times since the war in Ukraine broke out that energy prices and ASX energy shares would head upwards.

Russia is an oil and gas exporter but it faces trade sanctions that will prevent its supply from going out to its usual clients.

Continental Europe is especially reliant on Russian energy. But after the recent invasion of Ukraine, Europe will seek to diversify its sources.

One alternative could be nuclear energy, which France already utilises extensively, and which Germany formerly used. 

Uranium could be a valuable fuel in coming years

All this means uranium will get caught up as a fuel commodity in any global energy price surge.

And perhaps this month investors have started noticing Bannerman’s potential as a future producer.

Bannerman Energy shares finished the session on Thursday at 27.5 cents, up 5.77% for the day.

The post Why has this ASX share you’ve never heard of soared 30% already this month? appeared first on The Motley Fool Australia.

More reading

• What a Boss! Why the Boss Energy (ASX:BOE) share price is soaring 13% today
• Why did the Race Oncology (ASX:RAC) share price drop 10% today?
• Black gold! 3 ASX energy shares pumping new 52-week highs today
• Ups and downs: Why is the Cettire share price leaping 10% today?
• The Cettire (ASX:CTT) share price is plunging 14% today. What’s going on?

Motley Fool contributor Tony Yoo 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.

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The Nickel Mines Ltd (ASX: NIC) share price is faltering once again today and is now deep in the red at $1.20.

That’s a further 15% decline today, which means its shares are now down by 25% since last Friday’s close. That comes despite the spot price of nickel soaring almost 145% in the past five days (shown below).

What on earth is going on?

Sanctions on Russian exports has commodity traders in a scurry trying to evaluate their next moves and position themselves for the volatility.

Russia is the world’s largest exporter of nickel, an industrial metal that had seen its value surge due to heightened demand for lithium-ion batteries. Nickel is a key component in the cathode of these batteries, and is thus essential for electric vehicle production, but is also used in stainless steel production.

Nickel futures soared to US$100,000 per tonne this week amid the nerves prompting the London Metals Exchange (LME) to suspend trading to avoid an all-out disaster, as fears of supply shock radiate throughout markets.

However, market data soon emerged showing that Chinese nickel and steel giant Tsingshan and its subsidiary, Shanghai Decent, may have been largely behind the upswing.

As The Motley Fool reported yesterday: “Tsingshan and the affiliate were recently caught out holding an enormous short position on nickel futures which has obviously backfired spectacularly in the last few days.

“There are reports that coverage of this short position is what may have helped propel nickel so high.”

Basically, the commodity group was forced to play its hand in order to avoid a huge margin call and from becoming insolvent, as the 200,000 tonne short position on nickel, printed at US$21,000/tonne, spectacularly backfired.

Large commodity producers will hedge their exposure to the product using futures to protect against large swings in prices.

Going short on nickel futures meant Tsingshan was trying to protect its inventory value by ‘locking in’ a price in which the company could sell its product at a future date.

The scenario is, if nickel prices plummeted too far below US$21,000/tonne, Tsingshan and Shanghai Direct could still sell their product above the market price – at US$21,000, to be exact.

However, with the unprecedented “black swan” event via conflict in Europe, the simple mechanics of supply and demand shot prices north, meaning Tsingshan and co were left out in the rain, so to speak.

The result was a snowball effect from complex derivatives positions that ultimately shored up huge losses for the firm, propelling nickel spot to triple in value on Wednesday.

At the close of trade, the mark-to-market accounting that exchanges use in daily settlements showed the company was up for more than US$7 billion.

Why is the Nickel Mines share price struggling?

Even before the unfathomed spike, nickel futures had reached US$25,233/tonne, up 46% from US$17,232/tonne at the end of April 2021.

Now it is up more than 200% for the year and traders still have no idea what will happen with global inventories and the pull-through from failed deliveries.

One might think the huge jump in nickel prices would be a net positive for specialists involved with the metal. Not Nickel Mines though.

It has suffered huge losses on the day and was even forced to pause trading yesterday following the jitters.

The reason is because Shanghai Direct is the company’s biggest shareholder, with an 18% stake, and also partners with Nickel Mines on two of its nickel pig iron operations.

The company affirmed this in an announcement yesterday that tried to dampen investors’ reaction to any potential ripple effect.

Management assured investors all deal covenants remain in place and there should be no fallout from the events.

It doesn’t appear to have worked – investors are offloading shares at pace today such that trading volume is 300% above its four-week average in today’s session.

As the divergence between Nickel Mines’ share price and the price of Nickel continues to widen today (as shown below), could this be a potential value gap? Analysts at Bell Potter think so.

The broker noted the dislocation between fundamentals (nickel price) and the company’s current valuation – which is now trading at a significant discount – could be a buying opportunity in a note today.

The Nickel Mines share price has collapsed around 11% over the past 12 months. It is also down almost 16% this year to date and 17% over the past month.

The post Nickel Mines (ASX:NIC) share price tumbles again, down 25% this week appeared first on The Motley Fool Australia.

More reading

• These 3 ASX 200 shares are topping the volume charts on Thursday
• Why Newcrest, Nickel Mines, Rio Tinto, and Woodside shares are dropping today
• ASX 200 (ASX:XJO) midday update: Rio Tinto goes ex-div, tech and travel shares rebound
• Is the Nickel Mines (ASX:NIC) share price chaos a buying opportunity?
• 5 things to watch on the ASX 200 on Thursday

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.

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The S&P/ASX 200 Index (ASX: XJO) travel shares are having a day of strong gains.

There has been a lot of volatility amid the Russian invasion of Ukraine, with the impacts of the conflict being felt far and wide. One of the impacts has been an oil price which has charged higher. ASX 200 travel shares have seen difficulties with investor sentiment over the last few weeks.

But today, many ASX 200 travel shares are reversing some of those declines.

Let’s look at those movements.

ASX 200 travel share gains

The Qantas Airways Limited (ASX: QAN) share price is up by 6.4% at the time of writing. That means since the start of the year, the airline’s shares are only down by 3.7%.

Next is the Webjet Limited (ASX: WEB) share price which is currently up by 6.8%. The digital travel agency business has now seen its shares rise by close to 5% this calendar year.

The Corporate Travel Management Ltd (ASX: CTD) share price has gone up by 5.6%. It is now only down by 2.6% in 2022.

The Flight Centre Travel Group Ltd (ASX: FLT) share price has also soared higher – it has flown higher by 8.4%. It’s now up just over 3% for the 2022 year.

What is driving these gains?

It has been widely reported that oil prices have sunk. Oil prices were down as much as 17% earlier.

The United Arab Emirates (UAE) stated that it supports increasing production. This is in response to the much higher oil price because of supply disruptions caused by the Russian invasion. Russia is responsible for supplying 7% of global oil. The USA and Canada have banned Russian oil imports, whilst the UK will phase it out over this year.

UAE ambassador Yousuf Al Otaiba said:

We favour production increases and will be encouraging OPEC to consider higher production levels.

The UAE has been a reliable and responsible supplier of energy to global markets for more than 50 years and believes that stability in energy markets is critical to the global economy.

What next for ASX 200 travel shares?

The ASX 200 travel industry continues to face some disruption from COVID-19 impacts, though travel volumes are returning according to some of the ASX shares like Corporate Travel Management and Webjet.

Whilst oil prices have fallen, it is still substantially higher than before the Russian invasion of Ukraine. Time will tell what happens next – commodity prices are not known to be predictable.

The post Here’s why ASX 200 travel shares are having another stellar day appeared first on The Motley Fool Australia.

More reading

• Why Block, Myer, Paladin Energy, and Qantas shares are storming higher
• Why the Qantas (ASX:QAN) share price is leaping 5% today
• ASX 200 (ASX:XJO) midday update: Rio Tinto goes ex-div, tech and travel shares rebound
• Why did the Flight Centre (ASX:FLT) share price have such a volatile time in 2022?
• ASX travel shares rebound despite rising oil prices

Motley Fool contributor Tristan Harrison 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 Corporate Travel Management Limited, Flight Centre Travel Group Limited, and Webjet Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Shares in PSC Insurance Group Ltd (ASX: PSI) are currently halted amid a company requested trading pause.

PSC Insurance shares have posted gains so far in 2022, and are up more than 40% in the previous 12 months of trading.

The $1.6 billion company by market cap is also trading at its highest levels in over 5-years and recently touched its 52-week closing high back in February.

Why is the PSC share price frozen?

The ASX granted the halt for PSC following a company request today. Before being placed on ice, PSC shares were up 2% on the day at $4.84, slightly off the intraday high of $4.99.

PSC made the request pending a market sensitive announcement, as is typically the case for a trading halt.

“The trading halt is requested to facilitate an orderly market in PSI’s securities pending PSI making an announcement to the ASX in connection with a proposed capital raising”, it said today.

“PSI requests that the trading halt remain in place until the earlier of PSI making the announcement to the market concerning the capital raising or the commencement of trading on Friday 11 March 2022”.

Prior to the halt, PSC finished the month on a high after announcing its FY22 half year results. In its report, the company printed revenue growth of 28% and underlying net profit was up 21% to $16.6 million.

This resulted in a 46% year on year jump to 8.6 cents in earnings per share (EPS) and allowed the board to declare an interim dividend of 4.5 cents per share.

The bulk of earnings and cash flow growth was seen in the UK and Hong Kong markets, both of which also grew in contribution to overall revenue.

PSC share price summary

In the past 12 months, the PSC share price has climbed more than 40% and is up 2% this year to date. Over the past month, shares have walked another 4% into the green.

In fact, the company’s share price is up across all major time frames and is thus leading the broader market this year to date.

The post Why is the PSC Insurance (ASX:PSI) share price on ice today? appeared first on The Motley Fool Australia.

More reading

• Nickel Mines (ASX:NIC) share price tumbles again, down 25% this week
• Here’s why ASX 200 travel shares are having another stellar day
• Why Goldman says to buy these ASX coal shares right now
• Own Telstra shares? Here’s why the telco faces new legal action
• These 3 ASX 200 shares are topping the volume charts on Thursday

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

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With coal prices rising strongly this year, investors may be wondering how they can gain exposure to this booming commodity.

The good news is that Goldman Sachs has been looking at the industry and sees plenty of opportunities for investors with thermal and metallurgical coal.

Thermal coal

As its name implies, thermal coal is used predominantly for heating/electricity generation. It tends to be burned to create the steam that runs the turbines that ultimately generate electricity. Demand for non-Russian thermal coal looks set to underpin strong prices in 2022, according to the broker.

Goldman notes: “Our channel checks with industry participants (coal companies, traders, market assessors) suggest that some European & JKT utilities are already seeking to cut ties with Russian coal companies and tendering for South African, Colombian, Australian and Indonesian coal as a replacement, while Chinese traders remain cautious to import coal from Russia due to potential risks around letters of credit and deliverability.”

And while the broker believes Indonesia has the potential to boost its supplies materially, it would require a government policy reversal on export quotas. Furthermore, its coal has a lower energy content and is unlikely to satisfy demand for higher calorific value coal.

In light of this and reflecting a potential increase in Chinese domestic production, Goldman has upgraded its price forecasts for benchmark thermal coal to US$250 a tonne in the first quarter and US$208 a tonne in 2022.

Metallurgical coal

Metallurgical coal is the type used in steel production. Goldman anticipates further tightening in the market if European steel mills look for alternatives to Russian production.

It explained: “We would expect markets to tighten further if European steel mills turn to US and Aus coal. If this were to occur it would coincide with rebounding Chinese steel production in 2Q. Furthermore, there are ongoing supply issues in Canada, the US, Mongolia, and Australia mostly due to a slow recovery from ongoing weather events.”

As a result, it has upgraded its benchmark metallurgical coal price forecasts to US$440 a tonne for the first quarter and US$360 a tonne for the full year.

Which coal shares are in the buy zone?

Following its coal price forecast upgrades, Goldman has made changes to the valuations of some ASX mining shares.

It has retained its buy rating and lifted its price target on Coronado Global Resources Inc (ASX: CRN) shares by 33% to $2.80.

For South32 Ltd (ASX: S32) shares, the broker retains its conviction buy rating and lifts its price target by 5% to $5.90.

And for Whitehaven Coal Ltd (ASX: WHC) shares, Goldman has retained its buy rating and lifted its price target by 21% to $4.70.

The post Why Goldman says to buy these ASX coal shares right now appeared first on The Motley Fool Australia.

More reading

• Here’s why the South32 (ASX:S32) share price is sliding today
• 5 things to watch on the ASX 200 on Thursday
• Here are the 3 most heavily traded ASX 200 shares this Wednesday
• Want the dividends from these 5 ASX shares? You’d better be quick!
• These 3 ASX 200 shares are topping the volume charts on Tuesday

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

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The Telstra Corporation Ltd (ASX: TLS) share price could be under pressure in the coming months as it fights new legal action brought on by a former employee.

Former staffer Jodi Wruck, according to The Australian, has filed a case in the Federal Court against the telecommunications giant for its COVID-19 vaccination mandate.

Wruck was fired in December after she refused to be vaccinated, according to court documents.

A Telstra spokesperson declined to comment on specific cases but did confirm to The Motley Fool that staff with regular public contact were required to be inoculated against coronavirus.

“Under Telstra’s COVID vaccination policy, around 8,300 roles in Australia require a COVID vaccination given the increased risk of infection due to the type of work and regular contact with others while on the job,” the spokesperson said.

“This includes those who regularly interact with customers and other members of the public, those who work with vulnerable people and communities, and those who need to be onsite, such as our E000 contact centres.”

The spokesperson added that state and territory public health orders also required those performing essential telco work to be vaccinated.

Telstra shares dipped 0.77% to trade at $3.89 on Thursday afternoon.

Denied consultation on vaccinations?

Wruck is claiming that “at least seven” staff members have signed on as plaintiffs, reaching the legal minimum to be classified as a class action. 

The group is claiming that Telstra employees were not consulted and denied a chance to discuss with their doctors as to whether they should receive any COVID-19 vaccine.

The company spokesperson refuted that there was no discussion.

“We undertook extensive consultation before we introduced our vaccination policy, including extending the period for consultation and making changes to our policy approach based on constructive feedback from our employees and unions,” said the spokesperson.

“Since introducing our vaccination policy in September 2021 we’ve had a very small number of people who have decided not to get vaccinated.”

The legal action is seeking orders to stop Telstra from enforcing its COVID-19 vaccine mandate and for the plaintiffs to receive damages.

Wruck’s case claims her former employer also violated anti-discrimination laws because her advocacy for “freedom of choice” about “what to put in her body” was a “political belief”.

Telstra maintains that “the vast majority” of staffers have been supportive of the vaccination rules.

“We’ve so far given away the equivalent of $5m worth of incentives to over 20,000 employees who are fully vaccinated,” said the telco’s spokesperson.

“We remain confident the right approach has been taken to protect our employees and customers, and is consistent with recent legal decisions regarding vaccination.”

The post Own Telstra shares? Here’s why the telco faces new legal action appeared first on The Motley Fool Australia.

More reading

• Broker sees 19% upside for Telstra (ASX:TLS) share price and 4% dividend yield
• WAM boss urges cashed-up ASX 200 companies to buy, invest or pay dividends
• Analysts name 2 ASX 200 dividend giants to buy in March
• These 3 ASX 200 shares are topping the volume charts on Friday
• The Telstra (ASX:TLS) share price has tumbled 9% in 6 weeks. What’s happening?

Motley Fool contributor Tony Yoo 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 Telstra Corporation Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The S&P/ASX 200 Index (ASX: XJO) is enjoying another happy day of gains so far on Thursday after yesterday’s change in sentiment. At the time of writing, the ASX 200 is up by a pleasing 1.29% at just under 7,150 points.

But let’s dig a little deeper and check out the ASX 200 shares that are currently at the top of the market’s share trading volume charts, according to investing.com.

The 3 most traded ASX 200 shares by volume this Thursday

Incitec Pivot Ltd (ASX: IPL)

Chemicals and fertilizer manufacturer Incitec Pivot is our first ASX 200 share to check out today. So far, a notable 24.18 million Incitec shares have been traded on the share markets as it currently stands. There’s been no news out of the company itself recently. However, the Incitec share price has also risen strongly and is currently up 1.7% at $3.62 a share. It seems this rise is what is likely behind this elevated trading volume we see, perhaps helped along by a new broker recommendation.

Paladin Energy Ltd (ASX: PDN)

It seems ASX 200 uranium miner Paladin is never far from the headlines these days, and this Thursday is no different. Presently, a substantial 42.8 million Paladin shares have flown around the ASX. Again, we have a combination of a new broker rec for Paladin, along with a (in this case) massive share price jump. Paladin is currently up by close to 15% at 88 cents a share. 

Nickel Mines Ltd (ASX: NIC)

Our final and most traded ASX 200 share today is Nickel Mines, and by a mile too. This Thursday has seen a whopping 80.94 million Nickel Mines shares bought and sold. Unfortunately for investors, it seems this has resulted from the opposite situation to Paladin. Nickel Mines shares are currently down a nasty 14.23% at $1.20 a share. This, once again, appears to have been sparked by a broker recommendation.  

The post These 3 ASX 200 shares are topping the volume charts on Thursday appeared first on The Motley Fool Australia.

More reading

• Why Newcrest, Nickel Mines, Rio Tinto, and Woodside shares are dropping today
• Why are ASX uranium shares having such a stellar day?
• Why Block, Myer, Paladin Energy, and Qantas shares are storming higher
• ASX 200 (ASX:XJO) midday update: Rio Tinto goes ex-div, tech and travel shares rebound
• Warning: Only 4 ASX shares just added to ASX 300 are profitable

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

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On Wednesday, we looked at three ASX shares that brokers have given buy ratings to this week. Unfortunately, not all shares are in favour with brokers right now.

Three ASX shares that have just been given sell ratings by brokers are listed below. Here’s why they are bearish on them:

Inghams Group Ltd (ASX: ING)

According to a note out of Goldman Sachs, its analysts have downgraded this poultry producer’s shares to a sell rating and trimmed their price target down to $3.25. The broker made the move largely on valuation grounds but also on concerns over rising feed costs. Goldman fears that this emerging headwind could present a risk to Ingham’s medium term earnings. The Ingham’s share price is trading below this price target at $3.07 today.

Insurance Australia Group Ltd (ASX: IAG)

A note out of UBS reveals that its analysts have retained their sell rating and $4.20 price target on this insurance giant’s shares. This follows the release of an update on claims from the East Coast flooding. Overall, the broker believes the market is too optimistic on IAG’s earnings and expects the company to fall short of consensus estimates in FY 2022 and FY 2023. The IAG share price is fetching $4.33 on Thursday.

Reject Shop Ltd (ASX: TRS)

Another note out of Goldman Sachs reveals that its analysts have downgraded this discount retailer’s shares to a sell rating and cut their price target on them by 26% to $6.27. The broker has concerns about near term headwinds from lower foot traffic and higher input costs. Overall, it is expecting this to lead to Reject Shop also delivering earnings short of consensus estimates in FY 2022 and FY 2023. The Reject Shop share price is trading at $6.06 on Thursday afternoon.

The post Top brokers name 3 ASX shares to sell today appeared first on The Motley Fool Australia.

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

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