Category: Stock Market

Key points

• Bitcoin takes top spot as the most popular crypto among Australian investors on eToro
• Opened positions in the original cryptocurrency increased 223% year on year in 2021
• Cardano, Dogecoin, and Shiba Inu are rapidly gaining popularity with investors

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Despite the creation of countless new cryptocurrencies since the creation of Bitcoin (CRYPTO: BTC), the original decentralised protocol remains the most popular among investors. However, newer names are attracting plenty of attention in their own right.

More than 16,000 cryptos exist in 2022. Though, the market capitalisation of Bitcoin accounts for 39.4% of the entire value of all crypto assets combined. Similarly, investment platform eToro recently published data showing Bitcoin as the most popular cryptocurrency among its investors.

Here’s a closer look at the platform’s findings of 2021.

What cryptos made it into the average portfolio in 2021?

Last year was a rollercoaster year for most cryptographic assets, taking investors along for a wild ride. Fortunately, 2021 would go down as a positive return provider for some of the major cryptocurrencies — including Bitcoin and Ethereum (CRYPTO: ETH).

According to eToro’s data, Bitcoin trumped other crypto investments to take out the top spot as the most open position, both globally and in Australia. Moreover, opened Bitcoin positions increased 223% year on year as the cryptocurrency climbed in price from A$41,790 to A$65,670.

On the global stage, Bitcoin’s position was unchanged at number one. Whereas, in Australia, Bitcoin lifted from the third spot to number one, as shown below.

Cryptoasset	2021 ranking	Ranking change
Bitcoin (BTC)	1	+2
Cardano (ADA)	2	+7
Ether (ETH)	3	-1
Shiba Inu (SHIB)	4	New
XRP (XRP)	5	-4
Dogecoin (DOGE)	6	New
Decentraland (MANA)	7	New
Solana (SOL)	8	New
TRON (TRX)	9	-2
Polkadot (DOT)	10	New

Interestingly, Cardano (CRYPTO: ADA) secured second place in 2021, jumping up seven spots. This cryptocurrency is mostly in competition with Ethereum, having successfully used a proof-of-stake consensus mechanism. Notably, the staking method provides holders with the potential for passive income from staking their crypto.

eToro’s Australian market analyst, Josh Gilbert touched on the income opportunity made available by Cardano and others, stating:

Crypto has definitely hit the mainstream in Australia throughout 2021. Australian investors are looking for ways to capitalise on income opportunities, so it’s no surprise to see the two cryptoassets that provide staking rewards, ADA and TRX, in the top 10 list.

Who let the dogs out?

After making a splash onto eToro’s platform in 2021, Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB) rapidly gained popularity, cementing their spots as sixth and fourth most popular among eToro investors respectively.

Despite being based on a meme, these tokens have been taken seriously among investors, featuring in the top 10 most popular in Australia. However, a disconnect between popularity and worth still exists for these dog-themed cryptos. At present, Dogecoin and Shiba are ranked eleventh and fourteenth in terms of market cap.

The post Bitcoin (CRYPTO:BTC) takes most popular crown, here are 3 cryptos hot on its heels appeared first on The Motley Fool Australia.

More reading

• This under-the-radar cryptocurrency stock could outpace Bitcoin in 2022
• Crypto is crashing: Should you invest now?
• Bitcoin could hit ‘death cross’ soon! Expert explains why this is great
• Is Bitcoin making share prices more volatile?
• Bitcoin, Ethereum, and Dogecoin surge higher as crypto markets recover

Motley Fool contributor Mitchell Lawler owns Bitcoin, Dogecoin, and Ethereum. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Bitcoin and Ethereum. The Motley Fool Australia owns and has recommended Bitcoin and Ethereum. 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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Key Points

• The Pendal share price closed up 7.8% to $5.39
• It comes amid a board reshuffle following departure of the company’s chair
• The incoming Deborah Page will assume the head role

The Pendal Group Ltd (ASX: PDL) share price finished in positive territory today following changes to its board.

At market close, the fund manager’s shares were 7.8% higher at $5.39. But despite today’s strong gains, the company’s shares are still down more than 6% in a week.

What’s driving Pendal shares higher?

Investors are buying up Pendal shares after the company announced a change in its board members.

According to the comany’s announcement, Pendal advised James Evans has decided to retire as chair of the board with immediate effect.

Stepping into his shoes as of today will be current director of the Pendal board Deborah Page.

Evans’ tenure within the company lasted for almost 12 years. He’s held the chair position for the last 8 years.

During his time, Evans successfully transformed Pendal from an Australian-only fund manager into a global asset management powerhouse. Funds under management (FUM) leapt from $34.3 billion to $135.7 billion as at 31 December 2021.

The period included the acquisition of J O Hambro Capital Management (JOHCM) and, more recently, Thompson, Siegel and Walmsley (TSW).

Incoming chair Page took up the role as independent non-executive director of Pendal in April 2014. She also served as chair of the audit and risk committee since 2016.

The release noted Page has extensive experience as a company director and chair across a range of sectors. These include funds management, insurance, and technology.

Currently, she is a director of ASX listed companies Brickworks Ltd (ASX: BKW), Growthpoint Properties Australia (ASX: GOZ), and Service Stream Ltd (ASX: SSM).

Furthermore, the board announced the inclusion of Ben Heap as an independent non-executive director from 1 March 2022.

Heap previously held the title as managing director for UBS Global Asset Management in Australia. Prior to this, he held senior roles with UBS Global Asset Management, based in New York.

Pendal share price review

It’s been a disappointing year for the Pendal share price, falling by almost 17% in the 12-month period. Recently, the company’s shares reached a 52-week low of $4.73 before staging a small rebound.

Based on valuation grounds, Pendal commands a market capitalisation of roughly $2.06 billion, with approximately 382 million shares on hand.

The post Why the Pendal Group (ASX:PDL) share roared 8% higher on Monday? appeared first on The Motley Fool Australia.

More reading

• These were the worst performing ASX 200 shares last week
• Pendal (ASX:PDL) share price ends disastrous day of trade down 16%
• Why Afterpay, BWX, Pendal, and Temple & Webster shares are sinking
• ASX 200 (ASX:XJO) midday update: Qantas cuts capacity, Afterpay hits 52-week low
• Here’s why the Pendal (ASX:PDL) share price is tumbling 6% lower today

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 Brickworks. The Motley Fool Australia owns and has recommended Brickworks. 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 late trade, the S&P/ASX 200 Index (ASX: XJO) looks set to start the week with a decent gain. At the time of writing, the benchmark index is up 0.4% to 7,425 points.

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

Beforepay Group Limited (ASX: B4P)

The Beforepay share price is down 42% to $1.95. This follows the completion of the personal lender’s initial public offering (IPO) today. Beforepay raised $35 million at $3.41 per new share. These funds will be used to invest in additional customer acquisition, support growth in cash outs, invest in product and credit model refinements, and explore the viability of overseas opportunities.

Firefinch Ltd (ASX: FFX)

The Firefinch share price is down 1.5% to 73 cents. This appears to have been driven by weakness in the gold price which offset a solid quarterly update. According to the release, Firefinch’s quarterly production was 11,115 ounces of gold. This was towards the upper end of its guidance range of 10,000 ounces to 11,500 ounces.

Kogan.com Ltd (ASX: KGN)

The Kogan share price has fallen 3% to $8.00. This follows the release of an update from Wesfarmers Ltd (ASX: WES). That update revealed that Wesfarmers’ Catch business delivered first half gross sales growth of just 1%. As Catch and Kogan have previously had similar growth rates, this update may not bode well for the latter’s half year results next month.

South32 Ltd (ASX: S32)

The South32 share price is down over 3% to $4.04. This mining giant’s shares have fallen today amid weakness in the materials sector. This offset a positive update on its Hermosa project in Arizona, United States. That update revealed that the pre-feasibility study (PFS) for the Taylor Deposit demonstrates potential to establish Hermosa as a globally significant producer of metals critical to a low carbon future.

The post Why Beforepay, Firefinch, Kogan, and South32 shares are dropping appeared first on The Motley Fool Australia.

More reading

• Here’s why the Kogan (ASX:KGN) share price is being sold off today
• ASX 200 (ASX:XJO) midday update: Wesfarmers’ update, energy shares rise
• Why the Firefinch (ASX:FFX) share price started higher today
• These are the 10 most shorted ASX shares
• South32 (ASX:S32) share price lower despite ‘next generation mine’ update

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The ‘metaverse’ would have certainly earned its place on a list of ‘top investing buzzwords of 2021’. Assisted perhaps by the dramatic name change of what used to be known as Facebook Inc into Meta Platforms Inc (NASDAQ: FB), the metaverse is a concept that has now arguably taken root in the collective investing consciousness.

Facebook is so meta right now…

Meta founder and CEO Mark Zuckerberg probably deserves much of the credit. Back in October last year when ‘Zuck’ first announced the company’s rebranding, he called the metaverse “the beginning of the next chapter for the internet”. Here’s some more of what Zuckerberg had to say on the metaverse and his company’s place within it at the time:

The defining quality of the metaverse will be a feeling of presence — like you are right there with another person or in another place. Feeling truly present with another person is the ultimate dream of social technology. That is why we are focused on building this.

In the metaverse, you’ll be able to do almost anything you can imagine — get together with friends and family, work, learn, play, shop, create… As well as completely new experiences that don’t really fit how we think about computers or phones today.

Our role in this journey is to accelerate the development of the fundamental technologies, social platforms and creative tools to bring the metaverse to life, and to weave these technologies through our social media apps. 

So that all sounds pretty rosy. But many forward-looking investors are not waiting to experience the metaverse. They are looking to invest in it at an early stage as well.

As you might expect, the ASX is not home to too many metaverse companies. At least not yet. But new data from brokerage platform eToro shows exactly how keen ASX investors are to carve themselves a slice of the meta-pie. 

ASX investors can’t get enough of the metaverse

eToro’s share trading data for the fourth quarter of 2021 shows a significant increase in investor interest in Meta, which aligns quite conveniently with its October meta-centric rebranding. No, Meta Platforms did not usurp the perennial investor favourites of Tesla Inc (NASDAQ: TSLA) or Nio Inc (NYSE: NIO). But eToro’s data does show that Meta Platforms jumped from thirteenth place in the previous quarter to sixth place for the last quarter for Aussie investors. 

eToro global markets strategist Ben Laidler cited Meta’s repositioning as the main factor here:

The firm has ditched the Facebook moniker and hitched its wagon to the fledgling metaverse sector, which is starting to cause real excitement among many investors.

The metaverse is a huge growth opportunity and the fact that Meta has thrown its brand and resources behind it will be a big catalyst for its development. And while it is not the only company exploring this area, it will no doubt be one of the major players.

So it looks as though ASX investors can’t get enough of the metaverse and, by extension, Meta Platforms shares. It will be interesting to see how this trend continues to grow in 2022 and beyond.

The post Is the metaverse the next big thing? Here’s why ASX investors think so appeared first on The Motley Fool Australia.

More reading

• This metaverse ASX share is a buy: expert

Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool’s board of directors. Motley Fool contributor Sebastian Bowen owns Meta Platforms, Inc. and Tesla. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Meta Platforms, Inc. The Motley Fool Australia has recommended Meta Platforms, Inc. 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 a pretty positive start to the trading week so far this Monday. At the time of writing, the ASX 200 has risen by a healthy 0.4%, and is currently sitting at 7,423 points.

But let’s dig a little deeper and dive into the ASX 200 shares currently topping the market’s share trading volume charts, according to investing.com.

The 3 most traded ASX 200 shares by volume this Monday

Telstra Corporation Ltd (ASX: TLS)

Our first ASX 200 share to look at today is Telstra. This telco has had a notable 13.3 million of its shares find a new home so far this Monday. There is no major news or announcement out of the company today, so we can probably assume this volume is the result of movements of the Telstra share price itself. At the time of writing, Telstra is up a robust 0.59% to $4.245, just under its intraday high of $4.25. It’s this movement that’s likely resulted in this company making the list today.

Liontown Resouces Limited (ASX: LTR)

ASX 200 lithium company Liontown is next up today, with a hefty 15.83 million shares swapping hands thus far. Again, there has been no major pieces of news out of the company so far this Monday — or, indeed, since the notice last week announcing that Liontown’s share purchase plan would be extended.

So it’s likely to be the steep drop Liontown has suffered through today on the markets that is the probable culprit here. Liontown shares are presently down a nasty 2.62% at $1.67 each after initially rising as high as $1.80 a share this morning. This volatility might have assisted in Liontown’s elevated volume today.

Pilbara Minerals Ltd (ASX: PLS)

Our final and most traded ASX 200 share of the day so far goes to another lithium company in Pilbara Minerals. Pilbara has seen a whopping 18.92 million of its shares bought and sold as it stands today. Once more, it appears to be some dramatic and volatile share price swings that are feeding into the elevated trading volume we are seeing.

The Pilbara share price is currently up a healthy 1.61% at $3.78 a share. But this company swung as high as $3.89 this morning, before subsequently dipping into negative territory before rebounding to its current level. As such, we can probably say that this has resulted in Pilbara’s place at the top of this table as it stands right now.

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

More reading

• ASX 200 (ASX:XJO) midday update: Wesfarmers’ update, energy shares rise
• 5 things to watch on the ASX 200 on Monday
• 2 top ASX dividend shares to buy next week
• Top brokers name 3 ASX shares to buy next week
• 2 ASX lithium shares analysts rate as buys

Motley Fool contributor Sebastian Bowen owns Telstra Corporation 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 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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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to start the week with a gain. At the time of writing, the benchmark index is up 0.4% to 7,423.8 points.

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

Adbri Ltd (ASX: ABC)

The Adbri share price is up 7% to $2.98 after it announced an extension to its supply agreement with Alcoa. According to the release, Adbri’s subsidiary, Cockburn Cement, has secured an extension to its quicklime supply agreement for Alcoa’s operations in Western Australia. Adbri expects a minimum of $25 million in additional revenue from the extended supply.

Australian Ethical Investment Limited (ASX: AEF)

The Australian Ethical share price is up 3.5% to $11.15. This morning Australian Ethical released its funds under management (FUM) update which revealed a 6% increase to $6.94 billion since the end of September. This was driven by continued strong net flows together with a positive investment performance.

JB Hi-Fi Limited (ASX: JBH)

The JB Hi-Fi share price is up 3.5% to $46.64. This appears to have been driven by a broker note out of Morgans this morning. According to the note, the broker has upgraded the retail giant’s shares to an add rating with a price target of $54.00. It commented: “At the current share price, we believe JBH’s valuation looks compelling.

Wesfarmers Ltd (ASX: WES)

The Wesfarmers share price is up 3% to $55.52. This follows the release of a trading update this morning for the first half. That update reveals that the conglomerate expects to post a 12.5% to 16.5% decline in profits to between $1,180 million and $1,240 million driven by weakness in the Kmart Group due to COVID pressures. However, this was in line with consensus expectations.

The post Why Adbri, Australian Ethical, JB Hi-Fi, and Wesfarmers shares are racing higher appeared first on The Motley Fool Australia.

More reading

• Here’s why the Adbri (ASX:ABC) share price is raging 8% higher today
• ASX 200 (ASX:XJO) midday update: Wesfarmers’ update, energy shares rise
• JB Hi-Fi (ASX:JBH) share price pushes higher after broker upgrade
• Wesfarmers (ASX:WES) share price higher despite guiding to first half profit decline
• An ASX XI to take on the world

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 Australian Ethical Investment Ltd. The Motley Fool Australia owns and has recommended Wesfarmers Limited. The Motley Fool Australia has recommended Australian Ethical Investment 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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Key points

• The Beach Energy share price is trading at $1.455 right now – the highest it’s been since October
• Its gains come as Brent crude futures hit a 3-year high
• The ASX 200 energy sector is one of the market’s top performing sectors on Monday

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The Beach Energy Ltd (ASX: BPT) share price is having a roaring day despite no news having been released by the company.

Though, it’s not alone in its gains, with the price of oil likely bolstering many of its peers.

At the time of writing, the Beach Energy share price is $1.455, 3.93% higher than its previous close.

For context, the S&P/ASX 200 Index (ASX: XJO) is currently up 0.34%.

Let’s take a look at what might be driving the oil and gas producer’s shares higher on Monday.

What’s caused the Beach Energy share price to rally today?

Beach Energy’s stock is trading at levels not seen since October as the price of oil surges higher.

According to data from CNBC, Brent crude futures are currently trading at US$86.20 per barrel – a 0.16% gain.

Additionally, the commodity hit a new 3-year high of US$86.71 earlier today.

Meanwhile, West Texas Intermediate is up 0.48% at US$84.22 a barrel.

That’s on top of their 1.9% and 2.1% respective gains recorded at the end of last week.

While the price of oil likely hasn’t directly impacted Beach Energy’s stock, it might have bolstered sentiment for its earnings.

Of course, the company’s incomes are directly tied to the commodity’s price.

That sentiment might also be lifting the S&P/ASX 200 Energy Index (ASX: XEJ). The sector is one of the ASX 200’s best performers today, having gained 1.52% at the time of writing.

After Beach Energy’s rally, its share price is one of the sector’s best performers today.

It’s been pipped by Whitehaven Coal Ltd (ASX: WHC) which has gained 4.29% at the time of writing. Worley Ltd (ASX: WOR) has also gained 2.98% today.

Interestingly, Beach Energy hasn’t announced any price-sensitive news to the market since early November. Nonetheless, it has already gained 15% year to date.

The post The Beach Energy (ASX:BPT) share price is trading at an 11-week high. Here’s why appeared first on The Motley Fool Australia.

More reading

• ASX 200 (ASX:XJO) midday update: Wesfarmers’ update, energy shares rise
• 5 things to watch on the ASX 200 on Wednesday
• 5 things to watch on the ASX 200 on Tuesday
• Why did the Beach Energy (ASX:BPT) share price nosedive 30% in 2021?
• LNG hit record highs in 2021 so why did the Santos (ASX:STO) share price struggle?

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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Key points

• Beforepay completed its IPO raising $35 million at $3.41 per new share
• Investors have sold down the personal lender’s shares to a lowly $1.91
• This was despite the company revealing strong growth during the December quarter

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The Beforepay Group Limited (ASX: B4P) share price has hit the ASX boards today and crashed lower following the completion of its initial public offering (IPO).

In afternoon trade, the personal lender’s shares are down 44% from their listing price to $1.91.

The Beforepay IPO

Beforepay’s shares landed on the ASX today after raising $35 million at $3.41 per new share. This gave the company a market capitalisation of $158.4 million at listing. However, with its shares crashing today, its market capitalisation has now dwindled to approximately $90 million.

The proceeds from the IPO are to be used to allow Beforepay to invest in additional customer acquisition, support growth in cash outs, invest in product and credit model refinements, explore the viability of overseas opportunities, and pay costs associated with the offering.

What is Beforepay?

According to its prospectus, Beforepay was founded in 2019 to offer consumers a better way to manage their personal finances. This is by providing the flexibility to access their pay earlier, without having to rely on credit cards or other forms of revolving debt.

In doing so, Beforepay believes that it meets the demand of consumers who have been increasingly rejecting these forms of credit, while filling a gap in the market for flexible, transparent and on-demand access to credit.

Beforepay’s Chair, former Westpac Banking Corp (ASX: WBC) CEO Brian Hartzer, commented: “I’m delighted to see Beforepay list on the ASX today. The strong support we’ve received from investors is testament to the growth Beforepay has delivered as a startup and the opportunity ahead of us as a public company.”

“On behalf of the Board I’d like [to] thank our existing shareholders for their support during the early stages of our business and welcome the many new shareholders, whose investment in Beforepay is a vote of confidence in both the Pay on Demand industry and Beforepay’s future growth,” he added.

That confidence vote hasn’t lasted long unfortunately. This is despite Beforepay revealing further strong growth during the December quarter. This morning it revealed pay advances up 361% to $77 million and active users up 199% to 139,100.

The post Beforepay (ASX:B4P) share price crashes 44% after IPO appeared first on The Motley Fool Australia.

More reading

• The Beach Energy (ASX:BPT) share price is trading at an 11-week high. Here’s why
• Here’s why the A2 Milk (ASX:A2M) share price lost 52% of its in value in 2021
• Why is the Lynas Rare Earths (ASX:LYC) share price up 20% in a month?
• This Warren Buffett recommendation could be your best investment in 2022
• Own AMP (ASX:AMP) shares? Here’s why this expert downgraded some of its funds

Motley Fool contributor James Mickleboro owns Westpac Banking Corporation. 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 Westpac Banking Corporation. 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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Key points

• A2 Milk shares were sold off again in 2021
• Weak demand and excessive inventory weighed on the infant formula company’s performance
• Opinion is divided on where its shares are going in 2022

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For a second year in a row, in 2021 the A2 Milk Company Ltd (ASX: A2M) share price had a disastrous 12 months.

The infant formula company’s shares crashed 52% lower over the period.

Why did the A2 Milk share price sink in 2021?

Investors were selling down the A2 Milk share price last year amid the further deterioration in its performance.

For example, during FY 2021, the company reported a 30% decline in revenue to NZ$1.16 billion and a 79.1% reduction in net profit after tax to NZ$80.7 million. This was driven by structural changes in the daigou channel, softer demand in China, and a major write down of its inventory to address excess stock.

Also weighing on the A2 Milk share price was the company’s strategy day event which outlined its plans for the future. That update confirmed that the company does not expect its sales and profits to rebound as quickly as many investors were hoping.

A2 Milk has set itself a medium term (≥ 5 years) target of growing its sales to NZ$2 billion. While this is a big increase on FY 2021’s COVID-impacted sales of NZ$1.2 billion, it is only a modest increase on FY 2020’s pre-COVID sales of NZ$1.73 billion.

It also revealed that its EBITDA margins will “probably” be in the teens in the medium term due to expected market conditions, investments, and innovation. This is significantly weaker than FY 2020’s EBITDA margin of 31.7%.

In addition, management warned that there was still some uncertainty with these growth targets. It said: “Because of these uncertainties and the range of potential outcomes, it is very difficult to define future state targets and when they will be achieved – the path is also unlikely to be linear.”

Will things be better in 2022?

Opinion remains divided on whether 2022 will be any better for the A2 Milk share price.

The team at Bell Potter is positive and has a buy rating and $7.70 price target on its shares. Whereas the team at Macquarie has an underperform rating and $5.20 price target.

The post Here’s why the A2 Milk (ASX:A2M) share price lost 52% of its in value in 2021 appeared first on The Motley Fool Australia.

More reading

• Leading brokers name 3 ASX shares to buy today
• Why you shouldn’t expect the A2 Milk (ASX:A2M) share price to bounce back in 2022
• These were the 5 worst performing ASX 200 shares in 2021
• Analysts tip A2 Milk (ASX:A2M) and this share as buys
• Down 50%: Broker tips A2 Milk (ASX:A2M) and this ASX share to rebound in 2022

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 A2 Milk. 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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Key points

• The Lynas Rare Earths share price gained 20% in a month
• In a year, the company’s shares have rocketed 152%
• The company mines rare earths used in batteries for electric cars

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The Lynas Rare Earths Ltd (ASX: LYC) share price is continuing to gain today after a huge year in 2021.

The company’s shares are currently trading at $11.13, up nearly 20% in a month.

Let’s take a look at what investors may have been considering in the past month.

Big month

The Lynas share price gained 23% between market close on 21 December and January 5. Since then, it has seen a couple of minor dips but remains in the green. In the past year, the company’s share price has rocketed nearly 152%.

It seems global demand for rare earths used in batteries for electric vehicles may be continuing to impact the Lynas share price.

Lynas Rare Earths operates a mine at Mt Weld, Western Australia and an advanced materials plant in Gebeng, Malaysia.

A positive broker note out of Macquarie recently gave the company an outperform rating and price target of $12.20 per share. That’s nearly 10% more than the current share price.

In late December, the company revealed its Malaysian permanent disposal facility (PDF) for Water Leach Purification (WLP) residue has received regulatory approval.

The company has conducted multiple impact assessments for the project along with community consultation.

Finally, on 13 January, the company released its 2021 modern slavery statement. This outlined the actions the company is taking to address the risks of slavery in its operations.

Further, Lynas said no workplace transmission of COVID-19 was recorded at the company. The Lynas share price climbed a further 1% on Thursday.

Share price snap shot

The Lynas Rare Earths share price has returned about 152% to investors in the past year. That compares to the S&P/ASX 200 Index (ASX: XJO)’s return of around 10% over the same period.

In the year to date, the company’s shares are up by more than 9%.

The company commands a market capitalisation of roughly 10 billion on the current share price.

The post Why is the Lynas Rare Earths (ASX:LYC) share price up 20% in a month? appeared first on The Motley Fool Australia.

More reading

• Here’s why leading brokers name the Lynas (ASX:LYC) share price as a buy
• These were the best performing ASX 200 shares last week
• Here are the 5 best performing ASX 200 mining and resource shares of 2021
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Motley Fool author Monica O’Shea has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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