At lunch on Thursday, the S&P/ASX 200 Index (ASX: XJO) is on course to record a sizeable decline. The benchmark index is currently down 1% to 7,452.2 points.

Here’s what is happening on the ASX 200 today:

BHP shares go ex-dividend

The BHP Group Ltd (ASX: BHP) share price is falling heavily today after trading ex-dividend. Last month the Big Australian released its full year results and declared a record fully franked final dividend of 200 US cents or 273.6 Australian cents per share. This dividend will now be paid to eligible shareholders later this month on 21 September.

Flight Centre expansion

The Flight Centre Travel Group Ltd (ASX: FLT) share price is trading lower today despite announcing its expansion into the Japanese corporate travel market. According to the release, its leading FCM travel management business will enter Japan in January via a joint venture (JV) with Tokyo-based NSF Engagement Corporation. The company notes that the Japanese market is the world’s fourth largest corporate travel market.

UBS remains bearish on Zip

The Zip Co Ltd (ASX: Z1P) share price is pushing higher despite being the subject of a bearish broker note out of UBS. According to the note, the broker has retained its sell rating and trimmed its price target on the buy now pay later provider’s shares to $5.40. UBS has downgraded its earnings estimates to reflect higher operating costs.

Best and worst ASX 200 performers

The best performer on the ASX 200 on Thursday has been the Nuix Ltd (ASX: NXL) share price with a 4.5% gain. This is despite there being no news out of the investigative analytics and intelligence software provider. The worst performer has been the BHP share price with a 7% decline after going ex-dividend.

The post ASX 200 midday update: BHP sinks, Flight Centre expansion appeared first on The Motley Fool Australia.

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• Why the BHP (ASX:BHP) share price is down 7% today
• ASX energy shares on watch after OPEC’s latest move
• Here’s why the BHP (ASX:BHP) share price is down 7% today
• Flight Centre (ASX:FLT) share price falls despite expansion news

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 shares of and has recommended ZIPCOLTD FPO. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Nuix Pty Ltd. The Motley Fool Australia has recommended Flight Centre Travel 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 Boss Energy Ltd (ASX: BOE) share price is soaring today, up 6% at time of writing.

Below we take a look at the ASX uranium explorer’s latest announcement.

What did Boss report?

Boss Energy’s share price is charging higher after the company reported it’s getting set to commence a seismic reflection program at its Honeymoon Uranium Project in South Australia.

While widely used in oil exploration, seismic surveying is only recently being employed to explore for shallow mineral deposits. Boss said the method will reduce exploration costs. It’s also faster than drilling with a lower environmental impact.

As part of its strategy to grow its uranium inventory, the company intends to survey 2 potential high-grade zones identified in its 2020 scout exploration drill program.

Commenting on the new exploration tactic, Boss Energy’s managing director, Duncan Caribe said:

The impending seismic reflection program, followed by drilling, is aimed at creating value by growing the mineral resource inventory for Honeymoon, where we believe there is substantial exploration upside.

Passive seismic helped to refine the palaeovalley geometry. The modern seismic reflection system will now add to that by enhancing the detail of likely permeable horizons within the palaeovalley fill.

The combined arsenal of the two seismic systems has the potential to create significant value for shareholders, as they allow better targeting of exploration drilling, which opens the door to increasing both Life of Mine and production rates, in turn growing the project’s NPV and free cashflow.

Citing the results of its recent Enhanced Feasibility Study, Caribe said that Boss is “well on track” to bring its Honeymoon project into production.

Boss Energy share price snapshot

Over the past 12 months, Boss Energy’s share price has gained an impressive 131%. By comparison the All Ordinaries Index (ASX: XAO) is up 24% in that same time.

Year-to-date the Boss Energy share price continues to charge ahead, up 85% in 2021.

The post Why the Boss Energy (ASX:BOE) share price is soaring 6% today appeared first on The Motley Fool Australia.

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• Macquarie Bank (ASX:MQG) share price rises on build-to-rent housing plans
• Why the A2 Milk (ASX:A2M) share price has underperformed the ASX 200 in the last year
• Great Boulder (ASX:GBR) share price rockets 68% on drilling results
• Why the Redbubble (ASX:RBL) share price fell 8% today
• West Wits (ASX:WWI) share price tumbles 12% despite strong gold potential

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 Macquarie Group Ltd (ASX: MQG) share price had a strong start on Thursday, opening 0.41% higher at $167.49 and rising to $168.50 before pulling back to $166.96 at the time of writing.

Macquarie shares are on the move after news the company is looking to expand its presence in the build-to-rent property market.

Let’s investigate further.

What is Macquarie up to?

Let’s start this off by first defining the build-to-rent industry. For reference, it’s just as it sounds – when developers build or buy a property with the intention of renting it out as opposed to selling it. It isn’t a new concept, but it has been making headlines lately as more and more firms become invested in this space.

Macquarie’s entry into this property niche in Australia would build on its UK business that was established for the same reason, known as Goodstone Living.

Goodstone focuses on the development of “rental communities in urban locations, benefiting from a growing demand for rental housing and an undersupply of high-quality accommodation”. It sits under the wing of Macquarie Asset Management in the region.

In addition, there is a wave of interest in the build-to-rent market in Australia, with several participants now clearly visible in the space.

For instance, the Sydney-based firm ARBT Funds Management is set to list on the ASX to give investors exposure to this niche substrata of the property market. Not to mention the intentions of property giants Stockland Corporation (ASX: SGP), Mirvac Group (ASX: MGR) and Lendlease Group (ASX: LLC) to enter the space as well.

So, naturally one might see why Macquarie is seeking to profit from this recent market activity back on Australian shores as well. And from what it seems, it already has a new development in its sights.

A report in yesterday’s The Australian revealed the group is targeting a site at 346–350 Macaulay Road in Kensington, Sydney. The property is expected to sell for “close to $50 million”, according to the article.

Macquarie bank share price snapshot

The Macquarie bank share price has posted a year-to-date return of about 19%. It is up 30% on this time last year.

Over the past month alone, Macquarie shares have climbed 5.7% into the green.

These results have outpaced the S&P/ASX 200 index (ASX: XJO), which is up about 22% over the past year.

The post Macquarie Bank (ASX:MQG) share price rises on build-to-rent housing plans appeared first on The Motley Fool Australia.

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The author Zach Bristow 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 owns shares of and 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 past year has not been kind to the A2 Milk Company Ltd (ASX: A2M) share price.

In the past 52-weeks, shares in the infant formula company have tanked more than 65%.

By comparison, the broader S&P/ASX200 Index (ASX: XJO) has powered 26% higher during the same period.

Let’s take a look at why the A2 Milk share price has underperformed in the last year.

Why has the A2 Milk share price struggled in the last year?

Shares in A2 Milk have had a spectacular fall from grace in the last year.

The one-time market darling has faced unprecedented challenges and uncertainty as a result of the COVID-19 pandemic.

With Australia’s international borders closed, A2 Milk’s vital daigou channels were crippled.

In addition to a halt in its key supply channel, the company has also faced waning consumer demand and competition in China.

As a result of subdued demand, A2 Milk has also had to overcome excess inventory problems.

The full effect of these challenges was reflected in the company’s recent full-year report for FY21.

How did A2 Milk perform in FY21?

Late last month, shares in A2 Milk continued their decline following a dour FY21 result.

For the full-year, the company reported a 30% decline in revenue to NZ$1.21 billion.

In addition, the former market darling noted a 77.6% reduction in earnings before interest, tax, depreciation and amortisation (EBITDA) to NZ$123 million.

Other highlights from A2 Milk’s report included;

• Stock write-downs of NZ$109 million
• Net profit after tax down 79.1% to NZ$80.7 million
• Cash balance of NZ$875.2 million

A2 Milk advised investors that the company would review its growth strategy, given the rapid changes to its market.

Outlook for the A2 Milk share price

A2 Milk’s management noted an uncertain outlook on the company’s growth.

With the Chinese formula market a key driver of A2 Milk’s earnings, management noted that falling birth rates could weigh heavily on the company’s outlook.

The company also cited the need to address its excess stock with inventory or FY21 sitting at $NZ112.2 million.

In light of these circumstances, its management stressed the importance of innovating and expanding its product portfolio.

As a result of these headwinds, A2 Milk expects revenue for the first half of FY22 (including MVM) to be marginally lower than the first half of FY21.

At the time of writing, shares in A2 Milk have bounced 2% higher today, trading at around $5.85.

The post Why the A2 Milk (ASX:A2M) share price has underperformed the ASX 200 in the last year appeared first on The Motley Fool Australia.

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Motley Fool contributor Nikhil Gangaram owns shares of A2 Milk. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended A2 Milk. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Great Boulder Resources Ltd (ASX: GBR) share price is accelerating on Thursday. This comes after the Australian miner released its drilling results at the Mulga Bill prospect within the Side Well Project.

At the time of writing, the Great Boulder share price is up a sizeable 68.6% to 14.5 cents apiece. In comparison, the All Ordinaries Index (ASX: XAO) is down 0.87% to 7,745 points.

What were the results?

In today’s statement, Great Boulder revealed the initial results from its third phase of reverse circulation (RC) drilling at the site in Western Australia.

The first assays returned significant grades of gold across 6 holes at the site. They are as follows:

• 14-metre intercept at 36.12 grams per tonne (g/t) of gold (Au) from a depth of 91 metres, including 3 metres at 149.89g/t Au from 91 metres (21MBRC034);
• 6-metre intercept at 24.33g/t Au from a depth of 132 metres, including 4 metres at 34.86g/t Au from 134 metres (21MBRC034); and
• 2-metre intercept at 9.61g/t Au from a depth of 100 metres (21MBRC036).

The bonanza results are the highest grades ever recorded at the Side Well Project and seem to have had a positive effect on the Great Boulder share price.

In total, 15 RC holes were drilled as part of the program. Nine holes remain to be evaluated and reported. The findings are expected in the next fortnight.

In addition, diamond drilling was completed in mid-August, with those results anticipated in October.

RC drilling is ongoing at Mulga Bill and air-core (AC) drilling is due to start at the Whiteheads Gold Project in Western Australia later this month.

Management commentary

Managing director Andrew Paterson commented on the results which are driving the Great Boulder share price:

These results demonstrate the high-grade potential at Mulga Bill. We’re learning more about the potential of this project with every drill program.

Given its location, size and the results we’ve seen to date I think Mulga Bill has the potential to have a plus million-ounce gold endowment.

These holes were drilled at the start of July, indicating assay results are currently taking 8 weeks to report. We have over 4,000 samples in the pipeline which we’ll be reporting as soon as results are available.

About the Great Boulder share price

Over the past 12 months, Great Boulder shares have posted gains of around 190% for investors. The Great Boulder share price is closing in on its multi-year high of 15 cents reached in late May 2021.

Great Boulder has a market capitalisation of roughly $44.4 million, with approximately 355 million shares outstanding.

The post Great Boulder (ASX:GBR) share price rockets 68% on drilling results appeared first on The Motley Fool Australia.

More reading

• Why the A2 Milk (ASX:A2M) share price has underperformed the ASX 200 in the last year
• Why the Redbubble (ASX:RBL) share price fell 8% today
• West Wits (ASX:WWI) share price tumbles 12% despite strong gold potential
• Leading broker tips PointsBet (ASX:PBH) share price to rise 39%
• Why the BHP (ASX:BHP) share price is down 7% today

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

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It has been an eventful day for the Redbubble Ltd (ASX: RBL) share price on Thursday.

In early trade, the ecommerce company’s shares were down as much as 8.5% to $3.83.

The Redbubble share price has recovered since then and is now trading just 1% lower for the day at $4.15.

Why is the Redbubble share price bouncing around?

Investors were quick to sell down the Redbubble share price this morning after the company revealed that its Co-Founder, former CEO, and current Chairman, Martin Hosking, has been selling shares.

According to the release, Mr Hosking sold a total of 5 million Redbubble shares on-market on Wednesday for an average of $4.20 per share. This equates to a total consideration of $21 million for the shares.

As we saw recently with insider selling at Dicker Data Ltd (ASX: DDR), this provoked a negative (and potentially unwarranted reaction) from some investors.

Particularly given how Mr Hosking, like David Dicker from Dicker Data, still has a significant holding after the sale.

Why is he selling shares?

Redbubble provided the market with an explanation for the sale. Which, judging by the Redbubble share price recovery, appears to have eased nerves.

It explained: “The sale of shares by Mr Hosking has been undertaken to meet Mr Hosking’s financial commitments. On completion of the sale Mr Hosking will continue to hold an interest in 39.5 million Redbubble shares (representing 14.43% of all issued Redbubble shares), and he will remain as Redbubble’s largest shareholder. Mr Hosking has confirmed he remains committed as a long-term significant shareholder of Redbubble.”

Furthermore, with Redbubble shares down 30% in 2021, Mr Hosking certainly cannot be accused of selling at the top.

Is this a buying opportunity?

The team at Morgans believe the weakness in the Redbubble share price this year is a buying opportunity.

Late last month the broker upgraded the company’s shares to an add rating with a $4.83 price target. This implies potential upside of greater than 20% over the next 12 months.

The post Why the Redbubble (ASX:RBL) share price fell 8% today 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 shares of and has recommended Dicker Data Limited. The Motley Fool Australia owns shares of and has recommended Dicker Data 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 West Wits Mining Limited (ASX: WWI) share price is tumbling in late morning trade, down 12% at time of writing.

Below we take a look at the ASX gold explorer’s latest market announcement.

What did the gold explorer report?

West Wits’ share price is falling today despite the company reporting “strong results” from the Definitive Feasibility Study (DFS) at Qala Shallows, stage 1 of its Witwatersrand Basin Project in South Africa.

This covers the first of 5 planned stages of development the company has at the Witwatersrand Basin Project.

West Wits reported a “substantial” Maiden Ore Reserve of 3MT at 2.88 grams of gold per tonne for 278,000 ounces. This includes a Proved Ore Reserve of 830,000t at 3.13g/t for 84,000oz.

The Life-of-Mine (LOM) for Qala Shallows is estimated at 17 years, with All In Sustaining Cost (AISC) estimated at US$1,144/oz of gold. The company forecast a 5.5-year payback period for the US$50 million peak funding requirement.

West Wits said it plans to commence development of its Qala Shallows Project this month. The stage 1 project represents some 40% of the total planned production and potential of the Witwatersrand Basin Project.

What did management say?

Commenting on the results of the DFS, West Wits managing director, Jac van Heerden said:

The completion of the DFS is a key achievement in West Wit’s journey of transforming from an exploration operation to a robust, mid-tier gold production company. Historically, the Witwatersrand Basin produced more than 35% of total global gold production and here we stand today, with positive DFS results, at the dawn of a gold revival in the same area.

West Wits share price snapshot

The West Wits share price is up 195% over the past 12 months, well outpacing the 24% gains posted by the All Ordinaries Index (ASX: XAO) over that same time.

2021 has seen the West Wits share price struggle, with shares down 26% year-to-date.

The post West Wits (ASX:WWI) share price tumbles 12% despite strong gold potential appeared first on The Motley Fool Australia.

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• Leading broker tips PointsBet (ASX:PBH) share price to rise 39%
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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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The PointsBet Holdings Ltd (ASX: PBH) share price has been out of form so far in 2021.

Since the start of the year, the sports betting company’s shares have fallen 7.5%.

Is the weakness in the PointsBet share price a buying opportunity for investors?

According to a note out of Goldman Sachs this week, its analysts believe the PointsBet share price is in the buy zone.

That note reveals that the broker has reiterated its buy rating but trimmed its price target slightly to $14.75.

Based on the latest PointsBet share price of $10.59, this price target implies potential upside of 39% over the next 12 months.

Why is Goldman bullish?

Goldman remains bullish on PointsBet due largely to its massive opportunity in the United States market.

It estimates that the company will have a US$37 billion total addressable market in the US by FY 2033. This represents a 37% compound annual growth rate between 2019 and 2033.

Its analysts commented: “We reiterate our Buy rating on PBH, with our thesis underpinned by i) PBH’s leverage to the burgeoning US Sports Betting and iGaming market, ii) our view that PBH is well-placed to achieve 10% share in states it operates in, iii) upside risk to LR sustainable margins in Aus and the US, iv) Scalability benefits ahead noting positive impacts from the NBCUniversal deal to come and iGaming synergies, and v) strong management team and execution track record.”

In addition, the broker believes the current PointsBet share price does not “reflect much upside from potential license wins in states such as NY.”

Though, given how the company recently missed out on a licence in Arizona, along with BlueBet Holdings Ltd (ASX: BBT), it is understandable why some investors aren’t getting carried away with this one.

Nevertheless, should the company be successful in gaining a New York licence, the broker appears to believe this will result in the PointsBet share price responding very positively.

The post Leading broker tips PointsBet (ASX:PBH) share price to rise 39% appeared first on The Motley Fool Australia.

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• ASX 200 midday update: Harvey Norman’s record profit, PointsBet posts large loss

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 shares of and has recommended Pointsbet Holdings Ltd. The Motley Fool Australia has recommended BlueBet Holdings Ltd and Pointsbet Holdings 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 BHP Group Ltd (ASX: BHP) share price is currently the worst performer on the  S&P/ASX 200 Index (ASX: XJO) on Friday.

At the time of writing, shares in the iron ore major are down 6.73% to a 9-month low of $42.00.

Why is the BHP share price free-falling?

The good news is that the decline in the BHP share price on Friday is largely driven by its shares trading ex-dividend.

When a share trades ex-dividend, it means that new holders will not be eligible to receive an upcoming dividend payment.

A company’s share price typically falls on the ex-dividend date to the amount of the upcoming dividend.

About the BHP dividend

Investors who held BHP shares before the ex-dividend date will be eligible to receive the company’s final dividend.

BHP will be paying its shareholders a fully franked US$2.00 per share. This equates to $2.72 at current exchange rates.

The dividend will be paid out to eligible investors on Tuesday, 21 September.

At the time of writing, the BHP share price has declined $3.06. This means that about 88% of its decline is attributable to the dividend.

What else is weighing on BHP?

Broader market weakness and declines across the mining sector could also be driving down the BHP share price.

The ASX 200 is down 0.91% to 7,458.3 with most sectors in the red.

In addition, the S&P/ASX 200 Materials (INDEXASX: XMJ) index is the worst-performing sector on Friday, tumbling 2.70%.

BHP share price enters negative year-to-date territory

BHP shares hit an all-time high of $54.55 on 30 July, representing a year-to-date return just shy of 30%.

They are now down 2.35% this year following rapidly deteriorating iron ore prices and today’s ex-dividend.

There are increasing concerns that iron ore prices might remain subdued in the short-to-medium term as China demand eases and global supply accelerates.

The post Why the BHP (ASX:BHP) share price is down 7% today appeared first on The Motley Fool Australia.

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Motley Fool contributor Kerry Sun 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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ASX 200 bank shares have stalled in the past month with momentum likely dampened by the recent jump in COVID-19 cases and extended lockdowns across major Australian cities.

The banking heavyweights, Commonwealth Bank of Australia (ASX: CBA), National Australia Bank Ltd. (ASX: NAB), Australia and New Zealand Banking Group Ltd (ASX: ANZ) and Westpac Banking Corp (ASX: WBC) might also need a breather after surging 20-30% year-to-date.

The Australian reported that major banks might soon begin to feel the impact of lockdowns as volume and housing growth begin to moderate.

Lockdowns could slow near-term growth prospects for ASX 200 bank shares

The Australian quoted commentary from Macquarie which flagged that “housing growth for the major banks, excluding the troubled ANZ Bank business, moderated to 6-7 per cent from double-digit annualised growth in June.”

More broadly speaking, the Australian Bureau of Statistics reported a 1.6% month-on-month decline in new loan commitments for housing, despite surging 82.7% in the past 12-months.

By comparison, housing loan commitments increased 5.5%, 3.7% and 4.9% across March, April and May respectively.

“While the full impact of the current lockdown will not be known for some time, we expect balance sheet growth to dampen in the fourth quarter of this year and potentially in the first quarter of 2022,” Macquarie reported.

It could go both ways

Despite the prospect of slowing housing and loan growth, Macquarie analysts said that “if property prices continue to rise, the likely pent-up demand may result in a better outlook for 2022 credit growth.”

The Australian would point to redeeming factors such as the “relatively buoyant” 0.7% increase in Australia’s gross domestic product in June.

“The Australian Bureau of Statistics said domestic demand explained the better than anticipated result, with housing spending, private investment and public expenditure all strong, offsetting a fall in mining export volumes.”

The post ASX 200 bank shares could struggle due to lockdowns – expert appeared first on The Motley Fool Australia.

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Motley Fool contributor Kerry Sun 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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