Category: Stock Market

The Aurizon Holdings Ltd (ASX: AZJ) share price finished in the red in 2021 after a roller-coaster year.

Shares in the rail freight operator fell from $3.91 to $3.49 during the year, shedding 10.74%. For perspective, the S&P/ASX 200 Index (ASX: XJO) gained around 13%.

Let’s take a look at what contributed to this fall in 2021.

What happened to the Aurizon share price last year?

Aurizon’s share price had a few major bumps and drops in the first 10 months of the year, before a dramatic collapse in October. By the end of December, the company’s share price had partially recovered some of that loss.

Aurizon transports about half the country’s coal exports. The company carried 202 million tonnes of the commodity in the 2021 financial year.

The Aurizon share price gained 9.4% between market close on 4 February and 16 February. Investors reacted positively to news the Foreign Investment Review Board had approved Aurizon’s sale of the Acacia Ridge Terminal to Pacific National. The company’s half-year results also saw Aurizon’s bulk business earnings before interest, tax, depreciation and amortisation (EBITDA) up 27% to $140 million.

A major dip took place between 15 April and 19 May. In that week Aurizon shares fell nearly 13%, despite no price-sensitive news from the company. However, quarterly above rail volumes released by the company on 21 April showed the quarter ended March coal volumes were down 6% due to less customer demand.

In August, Aurizon shares reached a 52-week high of $4.13. Impacting investor sentiment may have been an outperform rating and $4.32 price target issued by Macquarie. Shares then fell on the back of the release of Aurizon’s full-year results, showing a 1% revenue drop in FY21. Morgan Stanley also lowered its price target on Aurizon shares to $3.92.

Off the rails

But the most dramatic fall for the company took place between market close on 21 October and 29 October, when shares fell 13% in eight days. This was despite Aurizon signing an agreement with Macquarie Group Ltd (ASX: MQG) subsidiary Macquarie Asset Management to take over One Rail Australia for $2.35 billion.

However, during the same timeframe, the price of coal dropped from US$228.50 per tonne to $143 per tonne.

Finally, the Aurizon share price soared nearly 7% from $3.32 to $3.55 between market close on 6 December and 30 December. That was despite no news from the company. It was likely coal prices were again impacting investor sentiment. During this time, coal jumped from US$122.20 per tonne to $130 per tonne, up 6.3%.

Foolish takeaway

While the Aurizon share price had a 2021 to forget, investors have seen gains in the past month.

Since this time last month, the company’s shares have risen nearly 8%, while they are up nearly 5% this past week. At the time of writing, Aurizon shares are trading at $3.66, up 0.27% today.

The company has a market capitalisation of roughly $6.7 billion based on its current share price.

The post What went wrong for the Aurizon share price (ASX:AZJ) in 2021? appeared first on The Motley Fool Australia.

More reading

• Could the Aurizon (ASX:AZJ) share price be in for more pain in 2022?

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 Aurizon Holdings Limited and Macquarie Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Commonwealth Bank of Australia (ASX: CBA) share price was on form in 2021 despite an end of year blip.

Over the 12 months, the banking giant’s shares rose by a sizeable 23%.

Why did the CBA share price charge higher in 2021?

Investors were buying CBA and other bank shares last year after they returned to form in FY 2021 following a difficult time a year earlier because of the pandemic.

For example, for the 12 months ended 30 June, Australia’s largest bank revealed a 19.8% increase in cash earnings to $8,653 million. This was notably better than the analyst consensus estimate of $8,464 million.

This strong result was driven by growth across business lending, home lending, and household deposits. CBA revealed that business lending grew over 3x system, home lending was 1.2x system, and household deposits grew 1.2x system.

In addition, the bank finished the period with a very strong balance sheet and capital position. This allowed CBA to declare a fully franked final dividend of $2.00 per share, bringing its full year dividend to $3.50 per share. This was a 17% increase year on year.

But it got better for shareholders. In addition to the final dividend, the bank announced a $6 billion off-market share buyback. Once again, this was also ahead of the market’s expectations.

Commonwealth Bank’s Chief Executive Officer, Matt Comyn, commented at the time: “Strategic divestments have generated $6.2 billion in excess capital since 2018. Today we have announced an off-market buy-back of up to $6 billion of CBA shares as the most efficient and appropriate way to commence the return of surplus capital, as shareholders will benefit from a lower share count that will support return on equity and dividends per share.”

What’s next in 2022?

Opinion remains divided on the CBA share price at the current level.

In one corner you have the bears at Morgans that believe it could fall to $73.00. In the other corner, there are the bulls at Bell Potter with their buy rating and $111.00 price target.

Time will tell which broker makes the right call on the CBA share price.

The post Why the CBA (ASX:CBA) share price jumped 23% in 2021 appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia 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 Limited (ASX: CNB) has taken a dive in early trading, amid the company announcing further drill results from its Greater Duchess Copper-Gold Project in Mt Isa, Queensland.

Assay results from a drilling regime at its Nil Desperandum prospect, located at Greater Duchess, confirms a broad high-grade copper-gold discovery at the site.

Whilst the announcement is touted as a positive by the company, the market has disagreed with its assessment.

At the time of writing, Carnaby shares have dropped 22.46% after haemorrhaging soon after the open today.

Why is the Carnaby Resources share price falling today?

The company advised of several assay results and investment highlights from the Nil Desperandum prospect in its release today.

It announced assay results from hole NLDD042 showed an intersection of 60.3m @ 0.9% copper, 0.1g/t gold from 256m and 3m @ 1.1% copper, 0.2 g/t gold from 238m.

Carnaby says the result from RC diamond hole NLDD042 confirms “the excellent continuity of the main high-grade breccia shoot directly down plunge from the previously reported drill hole NLRC017 which intersected 87m @ 0.9 % copper including 30m @ 1.8% copper” back in July 2021.

The intersection in NLDD042 is approximately 80m along strike from the recent spectacular copper results at another hole which remains “completely open down and up dip and down plunge to the southwest”.

It also notes that results from numerous other holes drilled at the end of 2021 at Nil Desperandum, Lady Fanny, and Burke & Wills prospects are also on the way.

As such, follow up exploration is being “rapidly escalated with extensive IP surveys and multiple drill rigs to commence this month”.

The company notes that extensive infill and extensional drilling is required to confirm the orientation and true width of the mineralisation intersected to date. It is also required to quantify the magnitude of the discovery, according to the announcement.

Carnaby also advised that “major new tenement applications targeting the southern continuation of a strong structural corridor to the south of Nil Desperandum” have increased landholdings by 638 km2 at Greater Duchess to 1,022 km2.

Management commentary

Speaking on the announcement, Carnaby Resources Managing Director, Rob Watkins commented:

NLDD042 has confirmed the strong continuity of the broad high-grade Nil Desperandum breccia which has been traced for over 500m and getting bigger and better at depth. We look forward to receiving more results shortly and the imminent start of 2022 exploration. We are also highly excited about the regional upside potential of the extensive new land tenure announced today.

Despite the weakness today, the Carnaby Resources share price remains one of the ASX’s top-performing names over the last 12 months.

It’s soared more than 218% in that time after rallying 326% in the past month alone.

The post Why is the Carnaby Resources (ASX:CNB) share price melting 22% today? appeared first on The Motley Fool Australia.

More reading

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• Carnaby Resources (ASX:CNB) share price explodes 46% on ‘spectacular’ copper find

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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Fortescue Metals Group Ltd (ASX: FMG) is back in the headlines with news it is considering a pivot-shift in strategy regarding its magnetite operations at its Iron Bridge project.

At the time of writing, shares in the iron ore juggernaut are changing hands at $21.07 apiece, up 3.44%, after closing the session at $20.37 last Friday.

The gain is supported by broad sector strengths on Monday, with the S&P/ASX 300 Metals & Mining Index (ASX: XMM) jumping 1.47% from the open at the time of writing.

Aside from this, iron ore price action remains under considerable pressure since its selloff in mid-July. Spot and futures prices have melted more than 45% since then.

What’s up with the Fortescue share price today?

Shares in the iron ore giant opened the session down at $19.83 apiece after pre-market activity on Monday, despite no price sensitive information being released.

However, the Fortescue share price spiked on the opening bell and is now trading well in the green, amid news of a shifting strategy at its Iron Bridge magnetite mine in WA.

According to reporting from The Australian, the company is understood to have already commenced works at the site using its own fleet. However, it is now facing a blowout of up to $1.2 billion in costs and capital expenditures at Iron Bridge.

The revision on expenses comes after labour costs and foreign exchange rates had already pushed maiden production at the site back by 6 months, according to the company.

Now Fortescue says the project is on schedule to deliver first production in December 2022 with revised capital investment forecasts of $US3.3-$US3.5 billion.

As such, it is reported the company is seeking a third-party contractor to overtake long-term mining operations at the site, as Fortescue itself seeks to minimise spending on diesel trucks in its push towards renewables.

Doing so would free up capital from its expense base and allow for a reallocation towards its renewables division.

Fortescue has made the commitment to divest completely from diesel trucks by 2030, amid Fortescue Future Industries’ quest to unlock the latest sustainable energy source.

Fortescue founder Andrew ‘Twiggy’ Forrest has also been lobbying hard for the government to phase out the US$7.8 billion diesel fuel rebate by 2025, The Australian reports.

The news follows a media update out of Fortescue’s camp last week, saying it had purchased two new “battery electric locomotives” to transport its iron ore to port.

The new locomotives are set to “cut emissions while also reducing fuel costs and [its] overall operational expense through lower maintenance spend”.

As it stands, Fortescue has been more active than usual lately on managing its portfolio and aiming to reduce exposure to ‘non-green’ fuel and energy sources such as diesel.

Aside from the above, Fortescue now has to fill the positions of a number of senior executives who have left the company in recent months, including its director of energy and chief executive.

Separately, iron ore markets have been lumpy since September 2021 and have traded largely sideways since that time.

Whilst traders have shown support for iron ore lately, it has faced resistance on several occasions at the US$121-$125/tonne mark and can’t seem to breakout past that point.

Fortescue Metals share price snapshot

It’s been a difficult year for Fortescue shareholders, having lost around 17% in the last 12 months of trading. However, the company’s shares have started the year well and are up 9% to date.

In the last month, Fortescue has regained support and has climbed almost 15% into the green, amid a slew of updates and the price of iron ore bouncing off its 52-week lows in December.

The post What’s impacting the Fortescue Metals (ASX:FMG) share price on Monday? appeared first on The Motley Fool Australia.

More reading

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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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The Pro Medicus Limited (ASX: PME) share price is out of form again on Monday.

In early trade, the health imaging technology company’s shares have fallen 5% to $51.51.

This means the Pro Medicus share price is now down 17.5% since the start of the year.

Why is the Pro Medicus share price falling?

Investors were selling down the Pro Medicus share price last week amid weakness in the tech sector and a bearish broker note out of Morgans.

In respect to the latter, the broker downgraded the company’s shares to a reduce rating with a $54.59 price target.

Morgan made the move on valuation grounds following recent share price strength, which it felt had run ahead of fair value in the short term.

It commented: “We continue to view PME as a high quality name with a competitive product and long-term contracted revenues, but remain cautious on short-term valuation grounds, trading at 150x FY22F PE.”

Back to hold

That downgrade didn’t last long. In light of the sharp pullback in the Pro Medicus share price last week, this morning Morgans upgraded its shares to a hold rating with the same price target.

While it acknowledges that its shares still trade on lofty multiples despite last week’s selloff, the broker sees enough value to warrant a more positive rating.

Though, it isn’t necessarily recommending investors start buying shares just yet. Morgans thinks the $50 mark is a good entry point.

Morgans commented: “Given the valuation, happy to remain active and trim overweight positions but long-term thematic and earnings visibility remains strong to retain a core holding for the long-term. Looking for weakness for an entry price around A$50 for new positions.”

The way the tech sector is performing right now, investors may not have long to wait for a buying opportunity at the $50 level.

The post What’s going on with the Pro Medicus (ASX:PME) share price? 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 Pro Medicus Ltd. The Motley Fool Australia owns and has recommended Pro Medicus 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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Owners of Santos Ltd (ASX: STO) shares had an exciting 2021. And, according to forecasting by S&P Global Platts analytics, they might be in for a strong 2022 too.

The research house recently released its outlook for energy commodities’ prices, wherein it predicted demand for fossil fuels will increase this year.

Of course, that will likely impact Santos’ profit margins and, therefore, its share price. At the time of writing, the Santos share price is $6.85.

Let’s take a closer look at what might move oil prices this year.

Could this drive the Santos share price this year?

According to S&P Global Platts, oil prices will likely stabilise in 2022 as COVID-19 becomes less disruptive and demand for oil increases.

This is likely good news for those who hold shares in oil producers such as Santos or Woodside Petroleum Limited (ASX: WPL).

Analysts from the research house expect the supply of fossil fuels will increase over 2022, potentially even exceeding demand. It stated:

We project that oil demand will increase by over 4 million [barrels per day (b/d)] in 2022. Even in a case where COVID proves to be more disruptive than expected, oil demand will still increase by almost 3 million b/d at a minimum, as vaccinations continue to build globally, and importantly, in countries with high GDP per capita. Oil demand growth could exceed 6 million b/d if we revert to normal more quickly. The strength in demand will push refinery runs and utilization rates (even including increased refining capacity) close to their historical ranges, improving margins.

Additionally, S&P Global Platts noted, “fears about the impact of new coronavirus variants, like Omicron, on demand will add to volatility but are likely overblown.”

It predicts, as more of the world’s population receive COVID-19 jabs, the likelihood that outbreaks will impact oil demand will lessen.

It also expects oil inventories to recover in the first quarter, leading oil prices to stabilise.  

Finally, demand for diesel is expected to stay high. It will likely be driven by lessening bottlenecks in supply chains and more planes launching into the sky.

What else could impact oil prices?

However, supply of oil could be hampered if a US-Iran nuclear deal isn’t implemented and sanctions continue.

S&P Global Platts predicts such a deal will be penned by March, with full sanctions relief by April. That could see Iran boosting global supply by 1.4 million barrels per day by the end of this year.

Though, without a deal oil prices could surge. The research house stated:

[T]he key test will come in the third quarter as summer demand challenges supply resilience – the absence of an Iran deal could leave the market vulnerable to breaking US$100 per barrel if combined with any other disruptive event.

In December, the Australian Department of Industry, Science, Energy and Resources predicted the oil price won’t surpass US$85 per barrel during financial year 2022.

Carbon outlook

Some might have hoped 2022 would spell the beginning of a new age of decarbonisation, particularly following COP26. However, that likely won’t be the case.

The research body expects carbon emissions from energy combustion will increase 2.5% in 2022, reaching new record levels.

Additionally, certain elections are expected to bring risks for domestic environmental policy agendas. S&P Global Platts noted:

Midterm elections in the US could derail the Biden Administration’s environmental agenda, while Australia’s opposition party is looking to oust the more conservative government by making stronger environmental targets a priority. These elections are reminders that “all politics are local” and the fates of global agreements are often determined by domestic elections, public sentiment, and policy shifts.

Santos share price snapshot

So far, 2022 has been good to the Santos share price.

It has gained 3.63% since the start of the year. Though, it is 5% lower than it was this time last year.

The post Own Santos (ASX:STO) shares? Here’s the outlook for oil prices in 2022 appeared first on The Motley Fool Australia.

More reading

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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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Once a week I like to look at ASIC’s short position report to find out which shares are being targeted by short sellers.

This is because I believe it is well worth keeping a close eye on short interest levels as high levels can sometimes be a sign that something isn’t quite right with a company.

With that in mind, here are the 10 most shorted shares on the ASX this week according to ASIC:

• Flight Centre Travel Group Ltd (ASX: FLT) remains the most shorted ASX share after its short interest stayed flat at 14.6%. Fears that the Omicron variant of COVID-19 is derailing the travel market recovery continue to weigh on investor sentiment.
• Kogan.com Ltd (ASX: KGN) has seen its short interest ease to 10.4%. This ecommerce company’s shares have come under pressure due to its very disappointing performance over the last 12 months and expectations that it will continue in FY 2022.
• Redbubble Ltd (ASX: RBL) has short interest of 9.4%, which is down week on week. Redbubble is another ecommerce company short sellers have been targeting due to its disappointing performance and concerns that it won’t improve quickly.
• Mesoblast limited (ASX: MSB) has short interest of 9.1%, which is down week on week. Last month Novartis terminated an agreement that could have been worth US$1.25 billion to Mesoblast. This could mean Mesoblast will need to raise funds again in the not so distant future.
• Zip Co Ltd (ASX: Z1P) has seen its short interest remain flat at 9.1%. Short sellers will be celebrating that Zip’s shares hit a 52-week low last week. Its shares have come under pressure due to the prospect of rising interest rates and reports that US regulators are looking into the BNPL market.
• Webjet Limited (ASX: WEB) has short interest of 8.6%, which is down week on week. As with Flight Centre, the emergence of the Omicron variant has spooked investors and put pressure on its shares.
• BHP Group Ltd (ASX: BHP) has short interest of 8.4%, which is up week on week. This appears to be driven by traders looking to profit from the unwinding of its dual listing. They have shorted its ASX shares and bought the cheaper UK shares which will eventually be repatriated.
• Polynovo Ltd (ASX: PNV) has seen its short interest rise to 7.6%. Short sellers continue to increase their positions despite the medical device company releasing a much-improved sales update last month.
• Betmakers Technology Group Ltd (ASX: BET) has entered the top ten with short interest of 7.3%. Investors may have concerns over the lofty multiples this betting technology company’s shares trade on.
• Appen Ltd (ASX: APX) has seen its short interest remain flat at 7.2%. This may be due to reports that some tech companies are bypassing artificial intelligence data services providers like Appen and taking things in-house.

The post These are the 10 most shorted ASX shares 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 Appen Ltd, Betmakers Technology Group Ltd, Kogan.com ltd, POLYNOVO FPO, and ZIPCOLTD FPO. The Motley Fool Australia owns and has recommended Appen Ltd and Kogan.com ltd. The Motley Fool Australia has recommended Betmakers Technology Group Ltd, 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 Incitec Pivot Ltd (ASX: IPL) share price is pushing higher on Monday morning.

At the time of writing, the industrial chemicals company’s shares are up 1.5% to $3.35.

Why is the Incitec Pivot share price rising?

Investors have been bidding the Incitec Pivot share price higher today after it announced a key acquisition.

According to the release, the company has entered into an agreement to acquire 100% of the shares in Explinvest for 91 million euros (~A$142 million) on a debt free and cash free basis. This represents an expected acquisition multiple of 7.8x FY 2020 EBITDA.

This investment is expected to be earnings per share neutral in the first full year of ownership and earnings per share accretive from then on after synergies are realised. The acquisition will be funded from the company’s existing cash and debt reserves.

What is Explinvest?

Explinvest is the holding company of the Titanobel Group, which is a leading industrial explosives manufacturer and drilling, blasting, and technical services provider based in France.

Management believes the transaction is highly complementary to the existing operations of its Dyno Nobel business. This is due to it providing access to new markets where Dyno Nobel can leverage its premium technology offering through substitution and growth strategies.

It also notes that Titanobel has a strong customer base in the mature and stable European market with exposure to the quarry and construction sector, the growing African hard rock sector, and the rapidly expanding mining of future facing minerals in the EMEA region.

Furthermore, Titanobel is supported by a well-established manufacturing base in France, which it believes will be key to the delivery of the Dyno Nobel strategy in the region.

Incitec Pivot’s Managing Director and CEO, Jeanne Johns, said: “Titanobel’s acquisition will fit well with our strategy of taking our core explosive business, for which we are recognised globally, to new markets. We are excited for the potential to service new clients and partners with our market leading technology.”

“The ability to build on Titanobel’s rich history, market position and regional presence is an exciting chapter in our growth journey, and we look forward to welcoming the Titanobel team to IPL. This acquisition further demonstrates the opportunities we have to grow our two high quality businesses and position them for the future,” Johns added.

The post Incitec Pivot (ASX:IPL) share price higher on $142m acquisition appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia 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 Novonix Ltd (ASX: NVX) share price is on the move on Monday morning.

At the time of writing, the battery materials company’s shares are up 7% to $9.98.

Why is the Novonix share price rising?

This morning the company announced the beginning of the process to have the Novonix share price listed on a second stock exchange.

According to the release, Novonix has filed a registration statement with the U.S. Securities and Exchange Commission (SEC) relating to a potential listing on the famous Nasdaq index. The U.S. listing is expected to take place after the SEC and Nasdaq have completed their review process and upon effectiveness of the registration statement.

Why list on the Nasdaq?

The company notes that establishing this program is part of an ongoing strategy to expand its reach to investors in the United States and make the company’s securities potentially eligible as a direct investment for North American institutions and fund managers.

As with its ASX listed shares, Novonix intends that its shares will trade on the Nasdaq under the ticker symbol NVX. It also stresses that the listing will not lead to the issuance of new shares. Rather the American Depository Receipts (ADRs) will be based on its ordinary shares currently on issue.

Novonix’s CEO, Dr. Chris Burns, said: “We believe NOVONIX was the first qualified supplier of high-capacity long-life synthetic graphite anode material to a major cell maker and is the only supplier with plans to provide large volumes of this key material in the U.S.”

“Our technological breakthroughs are helping to power the energy storage market, leading to better performance, longer life and lower costs. This listing furthers our long-term goal of reshoring the EV supply chain in North America and becoming a leader in the electrification economy,” he added.

The post Novonix (ASX:NVX) share price jumps 7% on Nasdaq listing plans appeared first on The Motley Fool Australia.

More reading

• Buying ASX shares in 2022? Here’s what you need to know: expert
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• Are Novonix (ASX:NVX) shares a bargain after tumbling 18% since early December?
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia 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 Medibank Private Ltd (ASX: MPL) share price has travelled modestly over the course of the new year. This comes as the private health insurance giant continues to navigate its way through COVID-19.

At Friday’s market close, Medibank shares touched a 52-week high of $3.63 before slightly retracing to $3.60, up 5.88%.

In contrast, the S&P/ASX 200 Index (ASX: XJO) ended the day 1.29% higher at 7,453.3 points.

Investors may be wondering what’s ahead for Medibank in 2022. Below, we look at some of the key dates to watch out for.

What’s ahead for Medibank in 2022?

Australia’s leading health insurance provider recently released its calendar for the 2022 financial year.

The first date of note is just around the corner on 25 February, when Medibank plans to deliver its half-year results for FY22. Along with its six-month performance report, the company will also announce the 2022 interim dividend.

The ex-dividend date for the interim dividend is scheduled for the following week, on 4 March. This is when investors must have purchased Medibank shares to be eligible for the upcoming interim dividend payment.

The payment date for the interim dividend is set for 24 March, when investors will collect a portion of the company’s profits.

Medibank handed shareholders a fully franked interim dividend of 5.8 cents per share for the first half of FY21.

The above process will repeat itself with Medibank releasing its full-year results and full-year dividend sometime in August. Although these dates are yet to be released by the company.

Medibank share price snapshot

Based on valuation grounds, Medibank presides a market capitalisation of roughly $9.91 billion, with approximately 2.75 billion shares on issue.

The company currently has a trailing dividend yield of 3.53% and a price-to-earnings (P/E) ratio of 22.50.

The post Own Medibank (ASX:MPL) shares? Here are some key dates to watch in 2022 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 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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