Category: Stock Market

On Monday, the S&P/ASX 200 Index (ASX: XJO) started the week on a subdued note. The benchmark index fell 0.15% to 7,292.2 points.

Will the market be able to bounce back from this on Tuesday? Here are five things to watch:

ASX 200 expected to edge lower

The Australian share market looks set for another subdued day on Tuesday. According to the latest SPI futures, the ASX 200 is expected to open the day 10 points or 0.15% lower this morning. This is a decent result considering the poor start to the week on Wall Street. In late trade the Dow Jones is down 1.5%, the S&P 500 is down 1.45%, and the Nasdaq is 1.6% lower.

Nine secures NRL rights

The Nine Entertainment Co Holdings Ltd (ASX: NEC) share price will be one to watch on Tuesday after it confirmed an agreement for NRL broadcast rights for the 2023 to 2027 seasons. Under this agreement, the live broadcast of NRL matches on Free-To-Air TV will be broadly in line with the current contract, albeit with an extra three matches, due to the expansion of the league. Nine is paying an average of $115 million per annum, which is in line with the prior agreement.

Oil prices fall

Energy producers such as Beach Energy Ltd (ASX: BPT) and Woodside Petroleum Limited (ASX: WPL) could have a difficult day after oil prices tumbled again. According to Bloomberg, the WTI crude oil price is down 3.6% to US$68.26 a barrel and the Brent crude oil price has fallen 3% to US$71.31 a barrel. Oil prices fell amid concerns over demand because of the spread of Omicron.

Gold price falls

Gold miners Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) could have a difficult day after the gold price dropped. According to CNBC, the spot gold price is down 0.7% to US$1,792.40 an ounce. The precious metal fell despite Wall Street tumbling overnight.

Westpac dividends

Today is payday for the shareholders of Westpac Banking Corp (ASX: WBC). Eligible shareholders can look forward to receiving the banking giant’s final dividend of FY 2021. Last month Australia’s oldest bank declared a fully franked final dividend of 60 cents per share. This equates to a 2.9% yield based on the current Westpac share price.

The post 5 things to watch on the ASX 200 on Tuesday appeared first on The Motley Fool Australia.

More reading

• Here are the top 10 ASX shares today
• Sydney Airport (ASX:SYD) share price flat amid ‘subdued’ traffic outlook
• What’s going on with the strange Newcrest (ASX:NCM) share price today?
• These 3 ASX 200 shares are topping the volume charts on Monday
• What experts are saying about the Woolworths (ASX:WOW) share price in 2022

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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The DevEx Resources Ltd (ASX: DEV) share price had a tough day today despite no news from the company.

In fact, the company hasn’t released any price-sensitive announcements to the market for more than a month.

Yet the DevEx share price finished well in the red today, down 10.19% to 48.5 cents.

Let’s take a look at what might have weighed on the company’s shares today.

DevEx share price drops on Monday

DevEx is a mining exploration company digging for gold, copper, uranium, and other metals. The company’s major focus is its copper and gold discoveries in the Lachlan Fold Belt region of New South Wales. It also has interests in nickel-copper-PGE exploration in Julimar, Western Australia.

One clue as to the performance of the company’s share price today may lie in the broader performance of gold.

The S&P/ASX All Ordinaries Gold (ASX: XGD) index dropped 8.7% by market close today. For perspective, the S&P/ASX 200 Materials (ASX: XMJ) index finished 0.13% higher.

DevEx’s last price-sensitive announcement to the market was back on 10 November. It was an update on the completion of two diamond drill holes at the Sovereign Nickel-Copper-PGE Project in Western Australia.

As the Motley Fool reported at the time, the discovery was well received by investors and led to them snapping up DevEx shares.

Since that time, the directors of the company have been involved in several share transactions.

According to company notices, most of the transactions carried out since 10 November were as a result of the exercise of options. However, two buy transactions by company chair Tim Goyder, worth a total of around $335,000, were on-market trades.

In total between 10 and 18 November, the company’s directors purchased more than $1.1 million worth of DevEx shares. Potentially, outside investors saw this as a vote of confidence in the company.

The only other news since then was the chairman’s address and AGM presentation on November 24.

Overall, the company reported a positive year including an increase in market capitalisation and positive developments on several exploration projects.

DevEx share price recap

Despite today’s plunge, the DevEx share price has rocketed 136% in the past 12 months and 111% year to date.

However, during the past month, the company’s shares have dropped by nearly 13% and 10% in the past week.

DevEx has a market capitalisation of nearly $152 million based on its current share price.

The post Why did the DevEx Resources share price plunge 10% today appeared first on The Motley Fool Australia.

More reading

• How is the DevEx (ASX:DEV) share price climbing 42% so far this week?

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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If you’re interested in bolstering your portfolio with some blue chip ASX 200 shares, then you may want to consider the ones listed below.

Here’s what analysts are saying about these top blue chip shares:

ResMed Inc. (ASX: RMD)

ResMed could be an ASX 200 blue chip share to buy. It is a medical device company which has a focus on sleep treatment solutions.

Over the last decade the company’s revenue and earnings have grown at a very strong rate thanks to the quality of its products and its large and growing market opportunity. Pleasingly, due to its massive market opportunity in sleep apnoea, chronic obstructive pulmonary disease (COPD), and home healthcare, ResMed looks well-placed to continue its growth long into the future.

Morgans is a fan of the company. It recently commented: “While we believe the next few quarters will likely be volatile, as COVID-related demand for ventilators continues to slow and core sleep apnoea volumes gradually lift, nothing changes our medium/longer term view that the company remains well-placed as it builds a unique, patient-centric, connected-care digital platform that addresses the main pinch points across the healthcare value chain.”

The broker has an add rating and $40.80 price target on ResMed’s shares.

Suncorp Group Ltd (ASX: SUN)

Another ASX 200 blue chip share to look at is Suncorp. It is one of Australia’s leading banking and insurance companies with a collection of popular brands. These include AAMI, Apia, Bingle, GIO, Shannons, Vero, and the eponymous Suncorp brand.

The team at Citi is positive on Suncorp despite concerns that its near term performance could be subdued.

Citi commented: “While we still see SUN as more of a medium term than shorter term story, our analysis suggests the current share price is a reasonable entry point even so. Largely to reflect lower impairment charges, we nudge up our FY22E EPS by 1% and retain our Buy call and A$12.80 TP.”

Citi has a buy rating and $12.80 price target on the company’s shares.

The post Why analysts love these ASX 200 blue chip 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. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended ResMed 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 Lynas Rare Earths Ltd (ASX: LYC) share price has been a top 10 performer of the S&P/ASX 200 Index (ASX: XJO) over the past 12 months. However, with the new year drawing closer investors are eyeing off what performance might look like for the year ahead.

Despite the rare earths mining company anticipating significant demand growth for the magnetic commodity, analysts are divided over the upside potential for the Lynas share price in the coming year.

Where could the Lynas share price be heading?

Let’s first take a look at the buy-side for the Lynas share price. At the beginning of the month Barrenjoey mining equity analyst, Daniel Morgan initiated coverage on the rare earth mining company.

According to the note, the Sydney-based broker has given the company an ‘overweight’ rating. Simultaneously, the broker labelled the Lynas share price with a target of $10.50.

However, not all analysts share in Morgan’s positive sentiment for the commodity-driven business. Instead, David Franklyn of Argonaut and Tim Serjeant of Eley Griffiths have stuck with a ‘hold’ rating. In an interview with Livewire in November, the fund managers were more reserved towards the Lynas share price due to its valuation.

Both agreed that the company’s Mount Weld mine is a strategic asset considering its position outside of China. However, neither Franklyn nor Serjeant could get past the fundamentals. At present, the company trades on a price-to-earnings (P/E) ratio of approximately 50 times.

In addition, Serjeant believes pricing is now towards the upper end for neodymium-praseodymium (NdPr), at around $100 per kilogram. From here, the fund manager sees little volume growth in the near term as ASX-listed Lynas goes through a capital heavy period.

This capital intensity being referred to is likely with regards to the development of the rare earths processing facility in Kalgoorlie. The project has been pencilled out to involve $500 million of investment before becoming operational in July 2023.

For those reasons, Franklyn and Serjeant are sticking with a hold rating.

The post What is the outlook for the Lynas (ASX:LYC) share price in 2022? appeared first on The Motley Fool Australia.

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Motley Fool contributor Mitchell Lawler owns Lynas 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 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 BHP Group Ltd (ASX: BHP) share price is off to a disappointing start this week. This comes despite the company not making any new announcements to the ASX.

At market close, the mining giant’s shares have slipped 0.72% on Monday to $41.10. But, regardless of the drop, the company’s shares have rebounded almost 13% in the past month.

What’s dragging BHP shares lower?

There are a couple of possible reasons as to why the BHP share price languished in negative territory today.

First and foremost, the S&P/ASX 200 Materials Index (ASX: XMJ) spent most of the day in the red before rallying late in the day to close 0.13% up at 16,372.8 points. The sector represents 39 of the largest companies that specialise in mining, forestry products, and construction materials.

It appears generally negative sentiment on the company’s home sector is weighing down the BHP share price.

Fellow miner Rio Tinto Ltd (ASX: RIO) also spent Monday well in the red before edging 0.24% in the green about twenty minutes before the close, finishing at $98.23 apiece.

In addition, another catalyst that may be affecting the BHP share price is that investors are holding around 8% of the company’s shares in short positions.

There’s belief that iron ore prices could give back their recent gains, which will put pressure on the company’s margins. This could potentially mean the world’s second-largest miner would miss its earnings targets set for FY22.

Currently, the spot price for iron ore is US$111.64 per tonne. And while it’s recovered from the 52-week lows of US$91.98 last month, there’s still a long way to go.

On a positive note, the company’s proposed acquisition of its petroleum business by Woodside Petroleum Limited (ASX: WPL) is on track. The Australian Competition and Consumer Commission (ACCC) did not oppose the takeover.

The competition regulator commented:

We examined the proposed acquisition closely as it would combine two of the four largest domestic natural gas suppliers in Western Australia.

We found that post acquisition, Woodside would continue to face competition from a range of suppliers of domestic gas, including major producers Chevron and Santos, and from several other smaller suppliers including Shell and ExxonMobil. Woodside’s share of domestic gas after the acquisition will be approximately 20 per cent.

What do the brokers think?

A number of brokers updated their view on the BHP share price over the last week.

Analysts at Macquarie raised their price target by 2% to $52.00 for BHP shares. Swiss investment firm UBS had a more bearish tone, reducing its outlook by 3% to $37.00. It’s worth noting that this is almost in line with the current share price.

BHP share price summary

Since the beginning of the year, it has been a substandard result for BHP shares, falling by almost 5%. This is a stark contrast from when its shares were tracking more than 25% higher for the year-to-date period during August.

Based on today’s price, BHP presides a market capitalisation of roughly $121.2 billion and has approximately 2.95 billion shares outstanding.

The post Why is the BHP (ASX:BHP) share price having such a lousy start to the week? appeared first on The Motley Fool Australia.

More reading

• These are the 10 most shorted ASX shares
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• Woodside (ASX:WPL) share price dips amid corporate watchdog’s mega-merger verdict
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• BHP (ASX:BHP) share price slips as ACCC gives all-clear for Woodside deal

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended 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 big four bank Australia and New Zealand Banking Group Ltd (ASX: ANZ) is in focus as management admitted that it got things wrong.

ANZ is one of the biggest banks on the ASX. It is facing intense competition in the mortgage space from the likes of Commonwealth Bank of Australia (ASX: CBA), Westpac Banking Corp (ASX: WBC), National Australia Bank Ltd (ASX: NAB), Bank of Queensland Limited (ASX: BOQ), Bendigo and Adelaide Bank Ltd (ASX: BEN), Macquarie Group Ltd (ASX: MQG), Pepper Money Ltd (ASX: PPM) and so on.

There are three key parts for how much lending profit ANZ, or any bank, can make – the size of its loan book, the net interest margin (NIM) and the amount of bad debts (and provisions).

But ANZ said to shareholders that it had dropped the ball in terms of lending recently.

Problems with lending processing

At the company’s annual general meeting (AGM), the ANZ CEO acknowledged in the big four bank’s FY21, it saw home loan revenue growth of more than 10% but the number of home loans on its books fell during the second half.

It attributed this decline to two factors.

First, customers were paying down loans faster.

Second, the speed at which it was able to process an increasing number of applications “just wasn’t sufficient”.

According to reporting by the Sydney Morning Herald ANZ chair Paul O’Sullivan said about its processing of mortgage applications:

Let me be frank, we got it wrong. Although we expanded capacity, we didn’t expand capacity enough. And as a result, we lost market share to those who could process it.

We have spent a lot of time at board and management understanding this issue. There has been significant work done to bring in new processes, new ways of handling things and to look externally at best practice, so we can learn from that and improve.

Yes it’s been a disappointing performance, but there has been a lot of work done to get us back on track.

ANZ said that it took urgent action to fix those processing issues by materially increasing its assessment capacity as well as simplifying and automating processes.

Whilst it’s still early days and there is much to do, ANZ said it is seeing improvements in its processing times and a modest return to balance sheet growth.

However, ANZ admitted that processing applications in a timely manner has resulted in a loss of market share. The board said it was confident that the systemic actions taken by management will address those issues.

ANZ is expecting Australian home loan portfolio to return to growth in this half and for ANZ growth to be in line with the overall system growth in the second half of the current financial year.

ANZ share price snapshot

Whilst ANZ shares have risen 17% over the last year, it is actually down 3% over the past six months.

The post Own ANZ (ASX:ANZ) shares? Here’s why the bank admits ‘we got it wrong’ appeared first on The Motley Fool Australia.

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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 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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Today, the S&P/ASX 200 Index (ASX: XJO) decided to kick off the final week before the holiday season with a red day. At the end of the session, the benchmark index inched 0.16% lower to 7,292.2 points.

While there were some tinges of green among the Aussie market today, it was weighed down by significant losses across the energy and financial sectors. Losses of 3% to 5% were witnessed in some of our oil and gas companies after oil prices fell 2% overnight on increased Omicron fears. In contrast, strong gains in the healthcare and consumer staples sectors prevented a deeper fall.

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

Top 10 ASX shares countdown today

Looking at the top 200 listed companies, Bluescope Steel Ltd (ASX: BSL) was the biggest gainer today. Shares in the steelmaking company rose 4.18% despite there being no new announcements. Find out more about Bluescope Steel here.

The next biggest gaining ASX share today was Viva Energy Group Ltd (ASX: VEA). The fuel retailing company experienced a 3.72% uptick in its share price after providing earnings guidance for FY 2021. Viva anticipates operating earnings to almost double compared to the previous year. Uncover the latest Viva Energy details here.

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

ASX-listed company	Share price	Price change
Bluescope Steel Ltd (ASX: BSL)	$21.93	4.18%
Viva Energy Group Ltd (ASX: VEA)	$2.23	3.72%
Mercury NZ Ltd (ASX: MCY)	$5.85	3.54%
Clinuvel Pharmaceuticals Ltd (ASX: CUV)	$27.78	3.39%
Healius Ltd (ASX: HLS)	$5.29	3.32%
Sonic Healthcare Ltd (ASX: SHL)	$44.46	3.04%
Genesis Energy Ltd (ASX: GNE)	$2.75	3.00%
Champion Iron Ltd (ASX: CIA)	$5.10	2.82%
Fisher & Paykel Healthcare Corporation Ltd (ASX: FPH)	$30.35	2.64%
Fortescue Metals Group Ltd (ASX: FMG)	$19.46	2.53%

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

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

More reading

• Sydney Airport (ASX:SYD) share price flat amid ‘subdued’ traffic outlook
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Motley Fool contributor Mitchell Lawler owns Sonic Healthcare 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 recommended Sonic Healthcare 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 Cimic Group Ltd (ASX: CIM) share price had a dramatic start to the week, with its shares tumbling to end Monday’s session 13.37% lower.

However, that’s better than its earlier performance. The company’s stock plunged 15% to $15.51 this morning before a pause in trading.

The initial slide came amid reports the company owed former employees millions of dollars of wages, entitlements, and compensations after it sold its 45% stake in Middle-Eastern company BIC Contracting (BICC).

Cimic’s shares began swapping hands again this afternoon after it provided a statement to rebut the claims.

The response followed the ASX issuing the company with a ‘please explain’ over its tumble, which saw it hit a new 52-week low of $15.28 in intraday trade.

As of today’s close, the Cimic share price is $15.88. For reference, it finished Friday’s session at $18.33.

Let’s take a closer look at what went on with the construction, mining, and services company’s shares today.

Cimic share price rebounds on $9.8 million pledge

Cimic responded to a media report that it believes tanked its share price today. The company says it was never in charge of BICC, but will still help provide former workers with their owed funds. The company stated:

BICC has never been and is not currently controlled by CIMIC. CIMIC, its co-shareholder and the acquirer continue to progress the completion of the sale and are working collaboratively through the remaining conditions precedent …

However, the wellbeing of BICC people is important to CIMIC and we will continue to work with the acquirer to resolve this matter.

According to the company, it is working with BICC’s purchaser SALD Investment to pay end of service entitlements to approximately 2,720 former employees.

Cimic stated 1,900 have already received their entitlements. Meanwhile, 400 former employees have had their entitlements processed.

Cimic is now working to provide the remaining 420 people with their owed money. Doing so will come at a cost of US$7 million ($9.85 million).

Of the 420 people who haven’t yet been paid, 300 are based in Qatar.

That’s important as the Qatari business is currently under curatorship. The curatorship is said to be impacting the speed at which people are receiving their payments.

The 120 people not from Qatar are living in the United Arab Emirates and Saudi Arabia. Together, they have 60 settlements subject to dispute.

According to Cimic, the $9.85 million it will spend to provide workers with their entitlements will be available to the acquirer as part of the sale process.

As of Monday’s close, the Cimic share price is 38% lower than it was at the start of 2021. It has also fallen 15% since this time last month.

The post Cimic (ASX:CIM) share price recovers slightly on repayment pledge, closes 13% lower appeared first on The Motley Fool Australia.

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

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The S&P/ASX 200 Index (ASX: XJO) has had a sluggish start to this week’s trading. The ASX 200 finished the day down by 0.16% at 7,292 points. But the Sydney Airport (ASX: SYD) share price isn’t doing too much better.

Sydney Airport shares closed the day at $8.57 each. That’s what they opened at this morning. This infrastructure company has been at the centre of the ASX investing world for the past few weeks, as the future of the company is wrangled out.

A fortnight ago, investors got the news that the Australian Competition and Consumer Commission (ACCC) had given the takeover offer from the Sydney Aviation Alliance the green light. Sydney Aviation Alliance (made up of several institutional investors including QSuper and IFM Australia) has bid $8.75 per share for Sydney Airport.

That’s an offer which the company has already recommended shareholders vote in favour of. This means that Sydney Airport is one step closer to delisting from the ASX boards and ‘going private’.

November traffic update highlights Sydney Airport’s ongoing struggle

But today, we got some other news out of the company which could be affecting its pre-Christmas trading. Sydney airport released its traffic performance update for the month of November this morning. And it makes for some interesting reading.

The company reported that its total passenger traffic for November 2021 was 498,000 passengers. That remains down 86.7% from the same month in 2019. Domestic patronage fell 82.9% against that benchmark to 407,000, while international travellers were down 93.3% at 91,000.

The company also said that the first 15 days of December show an 86% reduction in traffic compared to 2019, with the domestic figure down 69%.

The Airport also commented on its outlook from here:

The outlook for passenger traffic remains subdued due to tightly controlled inbound international travel, entry requirements and restrictions into key overseas markets, and the impact of the Omicron outbreak.

Perhaps shareholders who have already voted in favour of Sydney Airport’s takeover won’t be too concerned over these numbers. But it still highlights the ongoing issues that ASX travel companies like Sydney Airport are continuing to face.

At the current Sydney Airport share price of $8.57, this company has a market capitalisation of $23.12 billion. The company hasn’t paid a dividend since February 2020.

The post Sydney Airport (ASX:SYD) share price flat amid ‘subdued’ traffic outlook appeared first on The Motley Fool Australia.

More reading

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

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The S&P/ASX 200 Index (ASX: XJO) has had an interesting day of trading so far this Monday. At the time of writing, the ASX 200 is down by 0.14% at 7,293 points after falling pretty steadily all day. That stands in contrast to ASX 200 gold miner Newcrest Mining Ltd (ASX: NCM).

Newcrest shares have had a rather strange day of trading so far. This gold miner started the day off by opening at $23.51 a share before falling steeply, descending all the way down to $23.15 (a loss of 2.3%) soon after market open this morning. But, over the rest of the day, the Newcrest share price has staged something of a spirited comeback. As it stands currently, the company is trading at $23.95 a share, up a healthy 1.27%.

So what on Earth is causing these rather odd market gyrations for the ASX 200’s largest gold miner today?

Why is the Newcrest share price all over the shop today?

It could have something to do with the update Newcrest announced this morning. This related to the Wilki Farm‐in and Paterson Farm‐in projects that it funds in conjunction with Antipa Minerals Ltd (ASX: AZY). My Fool colleague Zach went into this update in detail this morning. But it essentially revealed the results of test drilling at 6 targeted locations.

These results were a mixed bag. While some delivered promising results, others identified “no ore grade mineralisation” or else ran into problems with “abnormally high groundwater”.

Antipa Minerals has said that it will analyse these results to “identify and rank new greenfield exploration targets for direct drill testing” in 2022. But it seems investors in Antipa were not impressed, seeing as this company’s share price is down 8% today (at the time of writing). The initial woes the Newcrest share price had this morning could be related to Anitpa’s nasty fall.

In some good news for Newcrest though, the gold price has kicked off this week on a positive note. Gold is currently going for US$1,801 an ounce today after spending most of the past month below the US$1,800 an ounce level.

At the current Newcrest share price, this ASX 200 gold miner has a market capitalisation of $19.51 billion, with a price-to-earnings (P/E) ratio of 12.02 and a dividend yield of 3.13%.

The post What’s going on with the strange Newcrest (ASX:NCM) share price today? appeared first on The Motley Fool Australia.

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Motley Fool contributor Sebastian Bowen owns Newcrest Mining 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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