Category: Stock Market

Shares in Core Lithium Limited (ASX: CXO) are in the green today and are trading up around 5% at 62 cents apiece.

Core Lithium’s share price has made a recovery on the chart during the rollover into 2022, bouncing from a low of 49.5 cents in late December.

This reversal to the upside is a welcomed turn following a sluggish period for Core Lithium, as shares were gradually marching downwards in the 3 months prior.

Alas, since Christmas, Core Lithium has made a recovery and is now trading back near 52-week closing highs of 64.5 cents reached back in November.

Why is the Core Lithium share price charging higher?

Let’s zoom out for a second and examine a wider time frame, say 12 months. In that time, Core Lithium has climbed almost 265% after rallying 18% across December.

There’s been plenty of support for Core lithium on various pullbacks during the last single year period to date, including at the most recent bout of volatility.

As a result of the December rally, shares are trading back within the longer-term uptrend that’s been in situ this last year.

Furthermore, the company advised it has executed an option agreement to purchase six granted Mineral Licences (MLs) that include over 30 historic pegmatite mines last month.

The MLs are adjacent to pegmatites at the company’s Finniss Lithium Project near Darwin in the Northern Territory. Each of the tenements have a history of tin and tantalum mining and production, Core Lithium says.

The flagship Finniss Project lies within one of the most prospective areas for lithium in the NT – the Bynoe Pegmatite Field – and covers over 500km2 of granted tenements.

Core Lithium expects to commence construction at Finniss before the end of 2021, subject to market conditions and a final investment decision. First production at the site is anticipated before the end of 2022, the company says.

What else could be at play?

Aside from these points, the price of lithium continues to thrust higher in 2022 as strong demand and tightening supply for the battery metal ensures that prices maintain their cyclical upswing.

Lithium went parabolic from this time last year and has maintained the heat ever since. Over the last 12 months, the price of the battery metal has soared over 104% to now trade at 277,500 Chinese Yuan per tonne, another record high.

Prices in the spot and futures markets took off once again in December, climbing 38% in that time alone, as the momentum spills over into the new year.

On the demand side, uptake of lithium-style batteries has been driven by the world’s newfound thirst for electromobility.

For instance, electric vehicle sales are thought to have spiked by 160% globally during 2021, according to analysis from Trading Economics. Meanwhile, China still leads the way in the EV segment, where deliveries are expected to double in 2022 to over 5 million sales.

Core Lithium is an ASX resource share that has direct exposure to the commodity through its Finniss Project. Therefore its movements in its share price are likely to correlate with volatility in the commodity markets.

Considering this relationship and the most recent rally in the price of lithium, the picture begins to form as to what might be garnering interest in the Core Lithium share price.

The post Why has the Core Lithium (ASX:CXO) share price leapt 15% since Christmas? appeared first on The Motley Fool Australia.

More reading

• Why is the Core Lithium (ASX:CXO) share price having such a lousy month?

The author has no positions 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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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to start 2022 with a strong gain. At the time of writing, the benchmark index is up 1.7% to 7,572.9 points.

Four ASX shares that are climbing more than most today are listed below. Here’s why they are pushing higher today:

Brainchip Holdings Ltd (ASX: BRN)

The Brainchip share price is up 18% to a 52-week high of 80.5 cents. This appears to have been driven by reports that Mercedes has included Brainchip’s Akida chip in its Vision EQXX electric concept car. The chip is being used to power its “Hey Mercedes” smart assistant feature.

Pilbara Minerals Ltd (ASX: PLS)

The Pilbara Minerals share price has continued its remarkable run and is up a further 8% to $3.45. This is despite there being no news out of the lithium miner. However, the team at Macquarie recently reiterated its outperform rating and lifted its price target to $3.70. This suggests there’s still room for the Pilbara Minerals share price to keep rising.

Straker Translations Ltd (ASX: STG)

The Straker Translations share price is up over 3% to $1.60. This morning the translation technology company announced a binding agreement to acquire IDEST for up to 4.25 million euros. IDEST is based in Brussels, Belgium and is focused on serving international institutions with state-of-the-art, tailor-made translation services.

Whitehaven Coal Ltd (ASX: WHC)

The Whitehaven Coal share price is up 6% to $2.77. Investors have been buying Whitehaven Coal and other coal miners after Indonesia banned thermal coal exports. Given that Indonesia is the world’s biggest exporter of thermal coal, there are concerns that supply could be significantly constrained during peak winter demand season. This bodes well for coal prices and Whitehaven Coal.

The post Why Brainchip, Pilbara Minerals, Straker, and Whitehaven Coal shares are pushing higher appeared first on The Motley Fool Australia.

More reading

• This just caused the Straker Translations (ASX:STG) share price to leap 9%
• Happy new high! Pilbara Minerals (ASX:PLS) share price up another 7%
• ASX 200 (ASX:XJO) midday update: Pilbara Minerals hits record high, energy shares rise
• Why is the BrainChip (ASX:BRN) share price leaping 7% on the first trading day of the year?
• Why the Whitehaven Coal (ASX:WHC) share price is jumping 9% today

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 recommended Straker Translations. 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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It was a year to remember for the Graincorp Ltd (ASX: GNC) share price in 2021. While the S&P/ASX 200 Index (ASX: XJO) returned 13%, the integrated grain company yielded a mindboggling 97.1% gain for shareholders.

The market-beating rally follows several years of largely sideways movement in Graincorp shares. Prior to 2021, investors were grappling with an investment that was often range-bound between $3.50 and $4.75.

During this time Graincorp’s profitability waved like leaves in the wind — going from $26 million in 2016 to $112 million in 2017, and back down to $70 million in 2018. Meanwhile, the company’s revenue was trending downwards, creating uncertainty for shareholders.

However, those that have stuck it out with the Graincorp share price were rewarded in 2021. But what exactly were some of the key drivers behind this renewed momentum? Let’s take a look.

Grains align for a bumper season

Much like many other commodities last year, grains enjoyed a major strengthening in price due to attractive supply and demand dynamics. Graincorp benefited from this through its supply chain, origination, and processing activities.

While historically it has often been the case that high grain prices have been concurrent with low yields across Australia, this was not the case last year. Instead, Aussie crop growers relished in above-average levels of grain production.

This positive environment was still prevalent last month, as grains analyst Malcolm Bartholomaeus noted:

In South Australia we have the highest ever prices for both wheat and canola and it is even getting close to records in NSW, where we had those really high prices during the 2018-19 drought when there was very little grain about.

We’ve averaged $407 [per tonne] for the early part of December, compared to a previous high of $390 per tonne.

According to its full-year result, the company witnessed strong global demand for Australian grain, oilseeds, and vegetable oils during the financial year. In turn, revenue rose 50% to $5,491.5 million from the prior corresponding period.

Perhaps most important for shareholders was the substantial increase in net profits. For the full year ended September 2021, Graincorp delivered net earnings of $139.3 million, up nearly fourfold from $35.2 million in 2020.

Rain and shine expected for Graincorp share price

Although the wet weather might have put a dampener on your holidays, it has the opposite impact on grain projections. For instance, analysts at RBC highlighted rain forecasts to be a catalyst for the Graincorp share price looking forward.

With the Bureau of Meteorology expecting high rainfall across Australia into early autumn 2022, RBC sees a good year for Graincorp’s Agribusiness segment.

Specifically, the broker has forecast $294 million in FY22 earnings before interest, tax, depreciation, and amortisation (EBITDA). This would suggest a 7% increase in the company’s Agribusiness EBITDA from FY21.

The post How did the Graincorp (ASX:GNC) share price double in 2021? appeared first on The Motley Fool Australia.

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• Why the Graincorp (ASX:GNC) share price is harvesting some stellar gains this week

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. 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 Carnaby Resources (ASX: WPL) share price is on fire today, starting 2022 up 13.7% to $1.535 at the time of writing.

Let’s take a look at what may be spurring investor interest in the metals explorer today.

Going for copper and gold

The company’s share price is surging despite no price sensitive news from the company. Today’s gains may reflect continuing investor confidence after the company announced a major copper and gold discovery on December 29.

This saw shares in the company surging 71% — from 73.5 cents at market close on Christmas Eve to $1.26 at market close just five days later.

Investors reacted positively after Carnaby revealed it had found an “exceptionally broad and high-grade copper-gold intersection” at drill hole NLDD044. This was a better than expected result from its Greater Duchess Copper-Gold Project in Mount Isa, Queensland.

Carnaby is also exploring projects in the Pilbara’s Mallina Basin and Yilgarn Margin of Western Australia and the Mt Isa Inlier of Queensland.

During December, the company’s share price skyrocketed from 25 cents on 1 December to $1.35, a 440% hike for the calendar month.

It seems the company’s share price surged on the back of confirmation of significant copper mineralisation at the Greater Duchess Copper-Gold project. Carnaby rated this discovery as the company’s largest copper find to date.

The major share price explosion started in mid-December on the back of “significant” and “spectacular” copper discoveries at the project. The Carnaby share price then continued to soar as the company released further details of its drilling results.

Share price snap shot

The Carnaby Resources share price has surged 253% in the past year and 443% in the past month alone. Meanwhile, it’s up nearly 107% in the past week.

In comparison, the S&P/ASX 200 Index (ASX: XJO) has returned nearly 13% to investors in the past year.

The company commands a market capitalisation of around $180 million based on its current share price.

The post Carnaby Resources (ASX:CNB) share price leaps another 13% in stellar start to the year appeared first on The Motley Fool Australia.

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• Why is the Carnaby Resources (ASX:CNB) share price up 66% today?
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• Carnaby Resources (ASX:CNB) share price explodes 46% on ‘spectacular’ copper find

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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It has been an excellent day for the Green Technology Metals Ltd (ASX: GT1) share price on Tuesday.

At one stage today, the Canada-based lithium explorer’s shares were up as much as 30% to a record high of 68 cents.

The Green Technology Metals share price has since pulled back a touch but remains up 18% to 61.5 cents currently.

Why is the Green Technology Metals share price rocketing higher?

Investors have been bidding the Green Technology Metals share price higher today amid optimism over impending drilling results.

The company recently announced the commencement of drilling activities at the North Aubry deposit within its Seymour Project in Ontario, Canada.

This Phase 1 program comprises a planned 11 holes for approximately 3,500m and is designed to evaluate both along-strike and up to 150m down-dip extensions of the Aubry North deposit that are currently open and untested.

Management notes that examples of these extensional targets include the final step-out drill hole at North Aubry under its previous owner, Ardiden Limited, which returned 40m @ 2.4% Li2O.

And while completion of the Phase 1 drilling at Seymour is scheduled for March, the company revealed on social media that it is expediting some assays. This could mean early to mid January the company will give investors a taste of what’s to come from the full drilling results.

Management certainly appears optimistic on its prospects at the Seymour Project.

In December, Chief Executive Officer Luke Cox commented: “We are excited to be commencing drilling at Seymour so rapidly. This outcome is a direct result of what has been achieved by both our Canadian and Australian operational and technical personnel in recent months.”

“Our aspirations for the Seymour Project are substantial and clear – and we deeply believe in the significant exploration upside to underwrite them. Building lasting local partnerships, testing our advanced exploration model, and generating shareholder value in doing so, is our immediate focus there,” he added.

The post The Green Technology Metals (ASX:GT1) share price jumped 30% to a record high today appeared first on The Motley Fool Australia.

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• Why is the Northern Star (ASX:NST) share price having such an unhappy new year?
• Here’s why the Tesla (NASDAQ:TSLA) share price soared 13% overnight
• Why is the Imugene (ASX:IMU) share price up 8% today?
• This just caused the Straker Translations (ASX:STG) share price to leap 9%

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 Northern Star Resources Ltd (ASX: NST) share price is having a poor start to 2022, plunging lower on its first day back.

The dip follows on from a 2% gain on New Year’s Eve and follows the price of gold’s recent slip.

At the time of writing, the Northern Star share price is $9.32, 0.9% lower than its previous close.

For context, the S&P/ASX 200 Index (ASX: XJO) is currently recording a 1.54% gain while the All Ordinaries Index (ASX: XAO) is up 1.49%.

Let’s take a closer look at what might be going on with Northern Star and its peers today.

What’s weighing on the Northern Star share price?

The spot price of gold is gaining on Tuesday. According to data from CNBC, it is currently trading at US$1,803.20 an ounce – a 0.1% gain.

However, it tumbled yesterday to close at US$1,800.10 per ounce, 1.44% lower than it was at the end of 2021.

Overnight, Reuters reported gold’s dip is likely due to rising bond yields and equities. Thus, the metal’s attractive position as a haven from volatility may have lost its shine.

Of course, today is the first day the ASX is trading since New Year’s Eve. Therefore, the yellow metal’s spot price might be dragging on the Northern Star Resources share price.

Fortunately (or, unfortunately), the gold miner isn’t alone in the red.

The ASX 200 is being weighed down by the metal’s producers on Tuesday. St Barbara Ltd (ASX: SBM) is the index’s second worst performer, while Ramelius Resources Limited‘s (ASX: RMS) is only just behind it.

They’ve seen their share prices tumble 3.2% and 2.5% respectively.

Meanwhile, the S&P/ASX All Ordinaries Gold (ASX: XGD) index has slipped 0.43%.

Today’s dip sees the Northern Star share price trading 29% lower than it was this time last year.

The post Why is the Northern Star (ASX:NST) share price having such an unhappy new year? appeared first on The Motley Fool Australia.

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Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has 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 Tesla Inc (NASDAQ: TSLA) share price caught a strong updraft overnight, flying 13.5% higher during the Monday night session.

After the dust had settled on United States equities, the electric vehicle (EV) manufacturer had reclaimed a US$1,200 share price. As a result, the company is a mere 4% gain away from setting a new 52-week high.

Sudden exuberance flowed into Tesla shares overnight after the EV giant released its fourth-quarter production and delivery numbers over the weekend. Remarkably, the carmaker managed to far exceed delivery expectations, creating heightened optimism towards the Tesla share price last night.

Record breaker for deliveries

Shocking both Wall Street analysts and Tesla bulls, Elon Musk and his team achieved Q4 2021 delivery numbers of 308,600. This number represented a 71% increase in deliveries compared to the prior corresponding period. Prior to the announcement, analyst estimates were for 267,000 deliveries in Q4.

Additionally, the final quarter numbers brought the company’s 2021 year total to 936,172 deliveries. Positively, this reflected a rise of 87% compared to the previous year’s number. Investors reacted to the news by bidding the Tesla share price higher last night.

The impressive figures mark the sixth consecutive quarter in which Tesla has posted record deliveries. This is despite the EV maker contesting with chip shortages in recent times.

Tesla’s quarterly delivery numbers have swayed analyst price targets following the press release. At least eight of 41 analysts covering the company have revised their targets upwards. One of which was Emmanual Rosner of Deutsche Bank, increasing his target to US$1,200 from US$1,000.

What’s next for the Tesla share price?

For Tesla, production and delivery numbers are a precursor to the company’s earnings report. Shareholders will be watching keenly over the coming weeks as Tesla gets set to post its official financials for the fourth quarter.

These financials will provide the market with additional insights into Tesla’s profitability, as well as the growth of other business segments. According to analyst consensus, the company is expected to post earnings per share (EPS) of US$1.94.

The post Here’s why the Tesla (NASDAQ:TSLA) share price soared 13% overnight appeared first on The Motley Fool Australia.

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Motley Fool contributor Mitchell Lawler owns Tesla. 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 Imugene Limited (ASX: IMU) share price is climbing today following a development in the company’s latest clinical trial.

The biotech company announced it had completed another leg in its trial for the treatment of lung cancer. It has also revealed the treatment’s effectiveness in ridding one patient’s tumour entirely.

At time of writing, the Imugene share price is up 8% at 43 cents.

Phase 1a dose escalation completed

At its core, the Sydney-based biotech company is committed to developing cancer immunotherapy medicines, mainly for gastric and breast cancer.

However, its B-cell activating immunotherapy, called PD1-Vaxx, is now being trialled in the treatment of non-small cell lung cancer (NSCLC).

In the announcement fuelling the Imugene share price today, the company says the drug has completed its phase 1a mono therapy dose escalation, and will now proceed to a ‘combination’ dose escalation.

The trial has been conducted in patients who had progressed on one or more immune checkpoint inhibitors (ICIs), the company said.

Imugene managing director and chief executive officer Leslie Chong said:

I am encouraged that we are seeing positive signals at such an early stage of our PD1-Vaxx phase I trial and we are now progressing to the phase 1b combination studies in treatment naive patients.

Our phase 1a trial has been open 12 months and I’m pleased with both the pace of development and the early responses seen. It’s particularly gratifying to have followed a patient in the trial for over 12 months where their tumour burden has been reduced to zero.

Imugene share price snapshot

The Imugene share price has seen a dramatic year, increasing by 300% over the course of 2021. In fact, the Imugene share price was one of the best performing biotech shares of 2021, as it progressed with a number of drugs in its clinical portfolio.

The company saw its 52-week-high in November. This coincided with the announcement of a partnership with Eureka Therapeutics and a new clinical supply agreement with Merck KGaA (ETR: MRK) and Pfizer Inc (NYSE: PFE).

The biotech company has a market capitalisation of almost $2.5 billion and more than 5 billion shares issued.

The post Why is the Imugene (ASX:IMU) share price up 8% today? appeared first on The Motley Fool Australia.

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Motley Fool contributor Alice de Bruin 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 Straker Translations Ltd (ASX: STG) share price is on a sharp rebound for the beginning of 2022. This comes after the company announced an acquisition to expand its presence in the multi-billion-dollar European translation market.

At the time of writing, Straker shares are zipping 8.71% higher to $1.685 apiece.

Straker to acquire IDEST

Investors are fighting to get a hold of the Straker share price after the company revealed its latest move.

According to this morning’s release, Straker advised it plans to purchase traditional translation provider, IDEST.

Based in Belgium, IDEST specialises in serving international institutions such as the United Nations and European Commission. Notably, the company has been supplying its services to these organisations for more than two decades.

The binding agreement will see Straker acquire IDEST shares for an initial consideration of €1.75 million (A$2.75 million). This will comprise €1.5 million (A$2.36 million) in cash and €250,000 (A$392,000) in shares at transaction completion. Straker shares will be at an issue price of $1.48 per ordinary share.

In addition, Straker will pay a deferred consideration to IDEST’s vendors of up to €2.5million (A$3.93 million) in cash over two years. However, this is provided that the newly-acquired business meets revenue growth targets that have been set out.

Straker highlighted that buying IDEST opens the largest translation market in Europe through its established relationships with leading global institutions.

Straker CEO, Grant Straker touched on the company’s latest deal, saying:

We have been talking to IDEST for several years as we recognised the strong standing, they have with global institutions and that their long experience and our technology solutions and global reach would be of value to their customers.

It’s fantastic that the stars have aligned to enable this transaction and for us to build on the great work of the founders over the past 30 years.

We have recently setup an office in Amsterdam and combined with IDEST in Brussels will give us a very strong offering in the Benelux region.

Straker share price summary

Over the past 12 months, the Straker share price is up 16%, with these gains coming from the last week. The company’s shares have noticeably been treading higher since 23 December.

Based on valuation grounds, Straker commands a market capitalisation of roughly $113.76 million, with 67.51 million shares outstanding.

The post This just caused the Straker Translations (ASX:STG) share price to leap 9% appeared first on The Motley Fool Australia.

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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 Straker Translations. 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 most brokers still taking a well-earned break, broker notes are few and far between at present.

In light of this, listed below are a few recent broker recommendations that remain very relevant today. Here’s are three ASX shares rated as buys:

Accent Group Ltd (ASX: AX1)

According to a note out of UBS, its analysts have put a buy rating and $3.00 price target on this footwear retailer’s shares. UBS is bullish on Accent due to its positive long term outlook which is being underpinned by the expansion of its store network across numerous brands. The broker is expecting operating leverage to support its earnings growth in the future as its network grows. The Accent share price is trading at $2.45 on Tuesday.

CSL Limited (ASX: CSL)

A note out of Citi reveals that its analysts have put a buy rating and $340.00 price target on this biotherapeutics giant’s shares. The broker made the move in response to CSL’s acquisition of Vifor Pharma for ~US$17 billion. Citi appears supportive of the acquisition and expects it to be accretive to CSL’s earnings. Its analysts also highlight that management presented the transaction as being strategically aligned with the existing business. The CSL share price is fetching $293.11 today.

Newcrest Mining Ltd (ASX: NCM)

Analysts at UBS also have a buy rating and $27.00 price target on this gold miner’s shares. According to the note, the broker has lifted its long term gold price estimate to US$1,500 an ounce. Combined with its belief that Newcrest is better positioned for growth than some of its peers due to M&A and reinvestments, it feels this makes it a good option for investors looking for exposure to gold. The Newcrest share price is trading at $24.50 on Tuesday afternoon.

The post Leading brokers name 3 ASX shares to buy 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. owns and has recommended CSL Ltd. The Motley Fool Australia has recommended Accent 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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