Category: Stock Market

Some of the under pressure ASX travel shares could actually be longer-term opportunities according to the buy ratings of some analysts and brokers.

COVID-19 impacts have hurt demand and travel volumes for nearly two years. But, despite the Omicron variant, these ASX travel shares might be compelling ideas according to some brokers:

Webjet Limited (ASX: WEB)

Morgans currently rates Webjet as a buy, with a price target of $6.60. That implies that the Webjet share price could rise by around 25% over the next year, if the broker is right.

The broker thinks that Webjet can continue to be profitable for the next result after a promising recent report. However, Morgans still thinks it will take some time before full travel volumes return.

Over the last month the Webjet share price has dropped over 15%.

When Webjet released its FY22 first half result, it said that the business was turning around as global travel markets start to reopen. Webjet said that positive working capital was delivering a $3.5 million cash surplus per month.

WebBeds has been profitable since July, with FY22 first half costs down 31% compared to pre-COVID times and is on track to be 20% more cost efficient at scale. The November 2021 total transaction value was 63% of pre-COVID volumes with many key markets yet to open.

The Webjet online travel agency (OTA) returned to profitability in October, despite the lockdowns and border closures in the second quarter.

This ASX travel share is seeing “rapid returns to high booking volumes as markets reopen”. At the time of the report release, third quarter tracking was ahead of the second quarter of FY22.

According to Morgans, the Webjet share price is valued at 35x FY23’s estimated earnings.

Corporate Travel Management Ltd (ASX: CTD)

Corporate Travel is rated as a buy by Citi as well, with a price target of $27.11. That suggests a potential increase of the Corporate Travel Management share price of more than 20% over the next year.

This ASX travel share recently announced an acquisition, though the broker was not particularly impressed by the decision to buy the Helloworld Travel Ltd (ASX: HLO) corporate business.

Corporate Travel Management is buying the corporate and entertainment travel business for $175 million.

This deal is expected to add 3% to earnings per share (EPS) on a FY19 pro forma basis, before synergies. Including those synergies, it’s expected to add 7% when earnings have recovered. If the deal goes ahead – it requires various approvals including the ACCC – it is expected to happen in the first quarter of 2022.

Despite all of the impacts of COVID-19, including the Omicron variant, Corporate Travel Management was able to generate positive underlying earnings before interest, tax, depreciation and amortisation (EBITDA) in the second quarter of FY22 to the end of November 2021.

It had cash of $102 million and no debt at 30 November 2021.

Citi’s numbers put the Corporate Travel Management share price at 21x FY23’s estimated earnings.

The post 2 buy-rated ASX travel shares that could take off appeared first on The Motley Fool Australia.

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• ASX 200 (ASX:XJO) midday update: CSL upgraded, Westpac AGM update
• Why is the Corporate Travel Management (ASX:CTD) share price halted?
• When it comes to the Webjet (ASX:WEB) share price, do the brokers or the shorters have it right?
• These are the 10 most shorted ASX shares

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 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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The United States-based buy now, pay later (BNPL) company, Affirm Holdings Inc (NASDAQ: AFRM) rose 4.9% in overnight trade. As a result, the Affirm share price is now sitting at $110.98, which might prompt local investors to wonder how the US company stacks up against local BNPL legend Afterpay Ltd (ASX: APT).

Since joining the public markets in January this year the instalment payment provider has traded between US$46.50 and US$176.65. Yet, the erratic swings in the company’s share price have only amounted to a 14% gain for the year so far.

Not all too exciting when you consider an investment in the S&P/ASX 200 Index (ASX: XJO) delivered a 9.5% return over the same period without having your heart in your throat.

Nonetheless, let’s look at how Afterpay compares to Affirm after its share price rise last night.

Survival of the fastest growing

When it comes to the BNPL industry there aren’t too many companies worried about profitability. Instead, it’s all about growing the top line as fast as possible, taking market share from competitors in the process. For this reason, investors will seldom fret over the bottom line.

So, let’s lift the lid on Affirm and ASX-listed Afterpay’s last annual growth metrics.

Firstly, the gross merchandise volume (GMV) processed by BNPL companies is an important indicator of market penetration. In FY21, Affirm delivered a GMV of US$8.3 billion (A$11.57 billion), compared to Afterpay’s A$22.4 billion worth of underlying sales during the financial period.

Similarly, Afterpay claimed the trophy when it comes to active customers at the end of FY21. The ASX-listed company reported 16 million shoppers actively using its platform. Meanwhile, Affirm reached 7.1 million active customers using its product. But, how does this translate into real revenue for the companies?

Well, in FY21 Affirm recorded US$870.5 million (A$1,213 million) in revenue — representing an increase of 71% on the prior corresponding period. In comparison, ASX-listed Afterpay notched up A$836 million, which was an increase of 75% compared to the previous year.

Though these figures might seem relatively inconspicuous at first, the interesting aspect is how Affirm is driving roughly 45% more revenue from nearly half as much in underlying sales.

Looking a little closer at Affirm’s financial statements, it can be seen that the BNPL company made US$326.4 million in interest income in FY21. Whereas, Afterpay does not charge interest on any of its payments. Affirm offers 6 monthly payments and 12 monthly payments which both come with an annualised 15% interest rate.

How does Affirm’s share price compare to Afterpay on the ASX?

Compared to Afterpay’s abysmal ~25% share price fall, Affirm’s share price has provided a positive return for investors so far this year (as shown below).

Since being announced in August, Afterpay’s acquisition by Block Inc (NYSE: SQ) (formerly Square) has been jumping through all the hurdles that come with such a deal. For the ASX-listed company, it has meant that its share price has been tied to Block’s due to the all-scrip deal.

In turn, Afterpay’s ASX-quoted market capitalisation is now ~A$26.4 billion. In comparison, based on Affirm’s current share price, the US-listed company commands a market cap of A$43.5 million.

The post Affirm share price rallies overnight, but how does it compare to Afterpay (ASX:APT)? appeared first on The Motley Fool Australia.

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Motley Fool contributor Mitchell Lawler owns AFTERPAY T FPO. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended AFTERPAY T FPO and Block, Inc. The Motley Fool Australia owns and has recommended AFTERPAY T FPO. 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 XPON Technologies Group Limited (ASX: XPN) share price has had a monumental debut on the ASX, surging 20% higher.

The company floated at 12noon AEDT on Thursday after raising $12.5 million during its initial public offering (IPO).

At the time of writing, the XPON Technologies share price is 24 cents. However, earlier today it was trading at 28.5 cents.

Let’s take a closer look at the ASX newbie and its IPO process.

But first, what is XPON Technologies?

XPON Technologies is a technology and cloud business that provides services and software solutions enterprises in Australia, New Zealand, the United Kingdom, and Europe.

It allows businesses access to and understanding of data captured during their customer’s digital experiences using analytics, artificial intelligence, and machine learning.

It also runs 2 proprietary technology platforms: the Wondaris Consumer Data Platform and the Holoscribe Extended Reality platform.

Its XPON Technologies founder, managing director, and CEO Matt Forman said:

XPON is uniquely positioned at the intersection of converging trends in data privacy and marketing technology…

With businesses facing stricter data privacy restrictions, shorter customer attention spans, and higher expectations for valuable brand experiences, the tools XPON offers through the delivery of our full-stack solution are in high demand.

The company’s key verticals include retail, financial services, media & entertainment, and travel.

It has more than 190 customers, including ASX companies such as Super Retail Group Ltd (ASX: SUL), Domino’s Pizza Enterprises Ltd (ASX: DMP), Flight Centre Travel Group Ltd (ASX: FLT), and Webjet Limited (ASX: WEB).

XPON Technologies share price surges following IPO

XPON Technologies raised $12.5 million by selling 62.5 million shares – its maximum planned issuance – through its IPO. Under its prospectus, shares in the company were offered for 20 cents apiece.

The company plans to use the funds raised through its IPO to scale and expand its business.

Most will go towards expanding sales, marketing, and customer growth, while a decent portion will fund product development and capability.

From June 2020 to June 2021, the company reported annualised recurring revenue growth of 253%. Right now, its customer retention rate is 99.6%.

Following its float, the company’s management and board have a combined 52% holding in its securities.

At its offer price, the company expected to list with an undiluted market capitalisation of around $60.7 million with approximately 303 million shares outstanding.

At its current share price, XPON Technologies has an undiluted valuation of approximately $72.8 million.

The post XPON Technologies (ASX:XPN) share price leaps 20% following IPO 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. owns and has recommended Super Retail Group Limited. The Motley Fool Australia owns and has recommended Super Retail Group Limited. The Motley Fool Australia has recommended Dominos Pizza Enterprises 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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The Veem Ltd (ASX: VEE) share price has taken off today after the company provided a gyro sales update.

At the time of writing, the marine technology company’s shares are up 7.21% to 92 cents. However, despite the strong gains made today, its shares are down by more than 20% in a month.

Veem provides sales update

The Veem share price is pushing ahead after the company announced a strong order book since its 17 November update.

In today’s release, Veem advised that it has received six orders for its gyrostabilisers, worth $2.2 million. This brings the total orders in hand to $5 million, with $1 million expected to be delivered this month.

Veem noted that the order book includes repeat purchases from three prestige boatbuilders for the luxury superyacht market. Namely, the customers are Alia in Europe, and Westport and the United States.

Furthermore, Damen – a Dutch defence, shipbuilding, and engineering conglomerate company – has started a marketing campaign for the use of VEEM Marine gyrostabilisers on its FCS 5009 vessels.

Currently, Veem has a 3-year agreement with Damen for the supply of gyros as an option onboard its FCS workboats.

The company also appointed Dennis Bravenboer as its new head of sales & business development in Europe. Mr Bravenboer will start the role in January 2022 and oversee the European marketing and sales division.

What did the managing director say?

Veem managing director Mark Miocevic commented:

We are pleased, but not surprised, to land these new orders in rapid succession over the last few weeks. Based on our leads and enquiries, we are very confident the orders will continue to increase through the second half of FY2022.

The Damen marketing campaign to introduce and recommend the VEEM Marine gyros, and in particular the VG520SD, to their client base is a great step forward for VEEM in the commercial markets with Damen being such a highly regarded shipbuilder.

We are very pleased to have been able to secure the services of Dennis Bravenboer to drive our European sales and marketing program for VEEM Marine. Dennis’ background in the sales and marketing of engineered marine products is outstanding and with our support we expect him to hit the ground running in 2022.

Veem share price summary

The Veem share price has gained almost 40% in the past 12 months and is around 10% higher year-to-date.

Based on the current share price, Veem commands a market capitalisation of $125.54 million, with 135.72 million shares on issue.

The post Veem (ASX:VEE) share price leaps 7% on upbeat sales data appeared first on The Motley Fool Australia.

More reading

• Own Kogan (ASX:KGN) shares? This $5m under-the-radar deal could signal a crypto play
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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 recommended VEEM Ltd. The Motley Fool Australia has recommended VEEM 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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Cryptocurrency-loving owners of Kogan.com Ltd (ASX: KGN) shares can rejoice as the company looks to dip its toes into the world of crypto.

Kogan has made a round-about deal with Canadian cryptocurrency exchange Bitbuy that will see it marketing the platform’s Australian launch.

At the time of writing, the Kogan share price is trading 0.74% higher at $8.15.

Let’s take a closer look at the online retailer and service provider’s foray into the cryptocurrency space.

Kogan shares might soon benefit from crypto trading

On Tuesday, Kogan announced it had reached an arrangement that will see the company gain a boost of around $5 million and a partnership with a crypto exchange.

All that comes at the price of a single domain name.

The company is selling one of its domain names – bitbuy.com – to Bitbuy’s parent company, First Ledger Corp.

The domain will cost First Ledger Corp $US1.5 million (around $2.09 million) in cash.

Additionally, Kogan will receive a warrant entitling it to around $3.04 million (converted from Canadian dollars).

The warrant will be cashed in for either First Ledger equity or cash within a year of transferring the domain name.

Kogan executive director, David Shafer commented on the sale, saying:

The domain sale not only delivers returns for Kogan shareholders but also provides an opportunity to benefit from Bitbuy’s future success in the crypto business abroad and potentially in the Australian market.

According to the company, Bitbuy is one of the most secure and trusted crypto trading platforms in Canada.

It recently became the first marketplace and dealer to be granted approval by the nation’s local security regulators.

Kogan didn’t mention when the crypto trading platform will be looking to launch in Australia.

Right now, Kogan shares are trading for 57% less than they were at the start of 2021. Its share price has also tumbled 10% over the last 30 days.

The post Own Kogan (ASX:KGN) shares? This $5m under-the-radar deal could signal a crypto play 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. owns and has recommended Kogan.com ltd. The Motley Fool Australia owns and has recommended Kogan.com 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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The Venture Minerals Limited (ASX: VMS) share price is off to the races today.

Shares in the ASX resource explorer are up 16.67% at time of writing, having earlier posted intraday gains as high as 27%.

Below we take a look at the latest drill results that look to be driving ASX investor interest.

What drill results were reported?

The Venture Minerals share price is surging after the company reported a record breaking drill intersection at Mount Lindsay Tin-Tungsten Project, located in Tasmania.

According to the announcement, the  drilling hit “substantial intersections of high-grade mineralisation”.

These include 147m at 1% Tin (Sn) and 0.2% Tungsten (WO3) from 90m. That remains open down the hole and Venture is still awaiting further assay results.

The intersection included a high grade zone of 45m at 2.5% Sn and 0.3% WO3 from 93m or 9m at 5.9% Sn and 0.3% WO3 from 183m.

Commenting on the drill results, Venture Minerals’ managing director, Andrew Radonjic said:

This new drilling at Mount Lindsay, focused on the high-grade zones, is starting to unveil the exceptional value that Mount Lindsay truly holds. At current metal prices, this 147-metre drill intersection has an average recovered value of AU$680 per tonne, taking into account metallurgical recovery test work from our previous feasibility study. This high value per tonne makes Mount Lindsay a very attractive proposition for underground mining.

The company noted that the Mount Lindsay Project has been classified by the Australian government as a Critical Minerals Project with an advanced Tin-Tungsten asset.

Venture Minerals share price snapshot

Following a strong run into the early winter, the Venture Minerals share price has been struggling since July. Year-to-date shares are down 24%. That compares to a 10% gain posted by the All Ordinaries Index (ASX: XAO) in 2021.

Over the past month the Venture Minerals share price is down 16%.

The post Venture Minerals (ASX:VMS) share price rocketing 17% on these record results appeared first on The Motley Fool Australia.

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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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Fortescue Metals Group Limited (ASX: FMG) Future Industries is in focus today after revealing it’s looking at repurposing an oil refinery.

Fortescue Future Industries (FFI) is the green division of Fortescue which aims to decarbonise several heavy industry sectors, whilst also making green hydrogen one of the most global seaborne commodities.

Fortescue Future Industries (FFI) explores repurposing a NZ oil refinery

The green business has agreed with Refining NZ to investigate repurposing facilities at the RNZ Marsden Point oil refinery to produce green hydrogen and other green hydrogen products.

These two businesses have signed a memorandum of understanding to study the commercial and technical feasibility of producing, storing, distributing, and exporting industrial-scale green hydrogen and related products from the decommissioned site.

FFI will undertake feasibility studies which will enable various estimates for the potential project and enable the development of a timeline as well.

The advantages of the oil refinery site

The Refining NZ site has existing infrastructure such as a deep-water port, it’s close to large electricity grid connections as well as an industrial water supply.

This site is based in Marsden Point, which is close to the country’s largest city. It’s two hours north of Auckland. The oil refinery is actually New Zealand’s only oil refinery.

It was noted by Fortescue Future Industries that in November 2021, the Board of RNZ made a final decision to convert the facility into an import-only facility. This meant that around 65% of the existing site would become available for future growth opportunities once the transition had taken place. The transition is expected to take place in April 2022.

FFI Chair Dr Andrew Forrest

Dr Forrest said that FFI continues to work on turning fossil fuel emitters into zero carbon green hydrogen producers around the world. Another example of that is the plan to turn AGL Energy Ltd (ASX: AGL) power plants into green hydrogen producers from renewable energy.

Dr Andrew Forrest said:

Green hydrogen can provide all sorts of advantages to local and export economies – and is the answer our planet needs now.

Green hydrogen production at Marsden Point will potentially deliver energy security, good local jobs, and the decarbonisation of local heavy industry – all while reducing emissions for New Zealand.

RNZ also excited by the potential with Fortescue Future Industries

The boss of RNZ, Naomi James, said:

The potential of green hydrogen to support New Zealand’s energy transition is huge, so we are delighted that FFI has chosen to partner with us as we jointly to investigate what might be possible in years to come.

Fortescue Metals share price snapshot

Today, the Fortescue Metals share price is up 1.4%. In the last two months it has gone up almost 30%.

The post Fortescue (ASX:FMG) Future Industries explores NZ oil refinery repurposing appeared first on The Motley Fool Australia.

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

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The AVITA Medical Inc (ASX: AVH) share price has dropped to a 52-week low today despite news that the medical producer has entered its RECELL System product into a trial.

Today’s slide comes off the back of a 2.78% fall yesterday after the medical company announced it had adjourned its AGM without any business discussions due to a lack of numbers to proceed.

At the time of writing, the Avita share price is down 2.29% trading at $3.42 apiece. Let’s take a closer look at the latest news.

Trial results to be revealed next year

In today’s release, Avita advised it was starting a trial for its RECELL System for the regimentation of stable vitiligo.

If found successful, the product could be used in the treatment of the skin condition, which affects at least 2% of the global population, according to the company.

Up until now, the RECELL System had been only pointed for use in the United States, toward the treatment of acute thermal burns.

However, as vitiligo is incurable and has no current FDA-approved options, Avita hopes the product may assist those living with the skin disease.

CEO Dr Mike Perry said Avita expected topline data to be returned from the trial next year. 

Recruitment of the last patient in this blinded, randomised pivotal trial is a significant milestone and lays the groundwork for regulatory approval and commercialisation of the RECELL System in 2023 for use in patients with stable vitiligo.

Avita share price snapshot 

The Avita share price has seen a steep decline, dropping 28.5% over the past 12 months. Shares in the company are down 32.6% this year to date.

Based on today’s share price, the company has a market capitalisation of more than $231 million.

The post Avita Medical (ASX:AVH) share price sinks to 52-week low despite ‘pivotal’ trial update appeared first on The Motley Fool Australia.

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The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Avita Medical Limited. The Motley Fool Australia has recommended Avita Medical 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 record a disappointing decline. At the time of writing, the benchmark index is down 0.6% to 7,282.8 points.

Four ASX shares that are falling more than most today are listed below. Here’s why they are dropping:

Chorus Ltd (ASX: CNU)

The Chorus share price is down 3% to $6.50. This follows the release of the New Zealand Commerce Commission’s final decision on its new fibre regulatory regime. The Commission has determined a regulated asset base of NZ$5.425 billion, compared to NZ$5.427 billion in its August draft decision.

CSL Limited (ASX: CSL)

The CSL share price has tumbled 8% to $272.90. This follows the completion of the biotherapeutics giant’s institutional placement. CSL raised US$4.5 billion (A$6.3 billion) at an 8.2% discount of A$273.00 per new share following strong support from existing shareholders and new investors. The proceeds will support the acquisition of Vifor Pharma for US$12.3 billion (A$17.2 billion).

Qantas Airways Limited (ASX: QAN)

The Qantas share price is down almost 2% to $4.78. This morning the airline operator released a market update which revealed that it expects to post a loss of $1.1 billion during the first half. Qantas’ CEO, Alan Joyce, revealed that that Qantas has faced “one of the worst halves of the entire pandemic.” Qantas also warned that its costs would increase in the second half as its employees return to work.

Sims Ltd (ASX: SGM)

The Sims share price has dropped 2.5% to $15.06. Investors have been selling the metals recycling company’s shares despite it announcing an acquisition this morning. Sims has agreed to acquire the assets of United States-based metal recycler, Atlantic Recycling Group for US$37 million plus working capital adjustments. This implies an EV/EBITDA multiple of 4.2x on a pre-synergies basis.

The post Why Chorus, CSL, Qantas, and Sims shares are dropping 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 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 Aeris Resources Ltd (ASX: AIS) share price is charging higher, up 3.2% in late morning trade.

This as the All Ordinaries Index (ASX: XAO) remains down 0.1%, after regaining some heftier earlier losses.

Below, we take a look at what’s driving ASX investor interest in the resource explorer and producer.

What did Aeris report?

The Aeris Resources share price is leaping higher after the company announced a maiden Mineral Resource estimate for its Constellation deposit. That deposit is located in its 100% owned Tritton tenement package in New South Wales.

The Mineral Resource estimate for Constellation totals 3.3 million tonnes at 1.4% copper, for 47,000 tonnes of copper metal.

According to the release that includes:

• Indicated Mineral Resource for high-grade Supergene mineralisation of 0.5 million tonnes at 3.4% copper, for 18,000 tonnes of copper metal; and
• Indicated and Inferred Mineral Resource for Sulphide (Primary) mineralisation of 1.4 million tonnes at 1.6% copper, for 23,000 tonnes of contained copper

The Aeris Resources share price could also be getting a lift from the company reporting that it has defined an Exploration Target for primary mineralisation below the reported Mineral Resource.

Commenting on the results, Aeris’ executive chairman, Andre Labuschagne said:

This maiden Mineral Resource and Exploration Target for the Constellation deposit confirms our long-held view that Constellation is a significant copper deposit and will play an important role in extending the life of our Tritton Copper Operation.

To go from initial discovery to maiden Mineral Resource in just over 12 months is a fantastic outcome by our exploration team. What is also exciting is that Constellation remains open down-plunge.

Labuschagne said the company is continuing with its resource definition drilling and hopes to provide an updated Mineral Resource by the end of the March 2022 quarter.

“Preliminary indications from the metallurgical test work appear positive and we are targeting to deliver detailed results by the end of January 2022,” he added.

Aeris Resources share price snapshot

The Aeris Resources share price is up 57% over the past 12 months, well outpacing the 0% gains posted by the All Ords during that same period.

Over the last month, Aeris Resources shares have lost 7%.

The post Here’s why the Aeris Resources (ASX:AIS) share price is shooting higher today appeared first on The Motley Fool Australia.

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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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