Category: Stock Market

If you’re looking for an easy way to invest your hard-earned money, then exchange traded funds (ETFs) could be worth considering.

Rather than deciding on which individual shares you should put your funds into, ETFs allow you to invest in a large group of shares through just a single investment.

With that in mind, I have picked out three popular ETFs to get better acquainted with. They are as follows:

BetaShares Global Cybersecurity ETF (ASX: HACK)

The first ETF to look at is the BetaShares Global Cybersecurity ETF. This fund provides investors with exposure to the leaders in the global cybersecurity sector. This area is heavily under-represented on the ASX, which is a shame given how rapidly it is growing. Among the companies in the fund are cyber security giants Accenture, Cloudflare, Crowdstrike, and Okta.

BetaShares NASDAQ 100 ETF (ASX: NDQ)

Another ETF to consider is the BetaShares NASDAQ 100 ETF. This ETF will give you exposure to the 100 largest non-financial shares on the famous NASDAQ stock exchange. Among the companies that you’ll be buying a slice of are tech giants such as Amazon, Apple, Facebook, and Microsoft, to name a few. There are also non-tech stocks such as Pepsi, Starbucks and Tesla in the fund. Given the positive long term outlooks of these companies, the BetaShares NASDAQ 100 ETF has been tipped to generate solid returns for investors.

VanEck Vectors Video Gaming and eSports ETF (ASX: ESPO)

A final ETF to look at is the VanEck Vectors Video Gaming and eSports ETF. This ETF gives investors exposure to the growing video gaming market. Among the companies included in the fund are hardware giant Nvidia and game developers Take-Two and Electronic Arts. VanEck highlights that these companies are in a position to benefit from the increasing popularity of video games and eSports.

The post 3 popular ETFs ASX investors need to know appeared first on The Motley Fool Australia.

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• Why Betashares Nasdaq 100 ETF (ASX:NDQ) could be a great investment
• 2 top ETFs that might be buys in August 2021
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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 BETA CYBER ETF UNITS and BETANASDAQ ETF UNITS. The Motley Fool Australia owns shares of and has recommended BETA CYBER ETF UNITS and BETANASDAQ ETF UNITS. The Motley Fool Australia has recommended VanEck Vectors ETF Trust – VanEck Vectors Video Gaming and eSports ETF. 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 Rex Minerals Ltd (ASX: RXM) share price fell heavily today after emerging from a trading halt.

At the closing bell, the mineral exploration company’s shares were swapping hands for 30 cents, down by 16.67%.

What did Rex Minerals announce?

A catalyst for today’s fall could be concerns about an impending share dilution. According to its release, Rex Minerals has successfully raised $50 million (before costs) in a two-tranche placement.

The offer received strong support from existing institutional, sophisticated and professional investors. The company also added new institutional investors to its register.

Rex Minerals listed the issue price for 166.7 million new ordinary shares at 30 cents apiece. This reflected a 14% discount on the last closing price of 35 cents on 3 August.

The shares will be split across two separate tranches, with the first portion coming under the company’s listing rule 7.1. This allows them to issue approximately 17.8 million shares without shareholder approval.

The second portion of shares (roughly 148.8 million) will be subject to shareholder approval at a meeting in September.

All the company’s non-executive directors have participated in the placement, with those shares also conditional on shareholder approval.

The proceeds of the placement will be used to mostly fund pre-development activities at Rex Minerals’ wholly-owned Hillside copper project in South Australia. Furthermore, the company will set aside some of the money for its 100%-owned Hog Ranch gold property in Nevada, United States.

Rex Minerals managing director and CEO Richard Laufmann commented:

This is a significant milestone for the company and for the development of the Hillside copper project. A strong appetite from institutional investors reflects support for the development thematic to be a part of this nation-building project.

The funds raised place the company in a great position to begin pre-development at Hillside whilst progressing towards a Final Investment Decision for Stage 1 late next year, as well as pursuing additional value at Hog Ranch.

About the Rex Minerals share price

It’s been a wild ride for Rex Minerals shareholders, with the company’s shares accelerating by almost 80% year to date. Looking at a longer time frame, Rex Minerals shares are up around 38% since this time last year.

Based on today’s price, Rex Minerals has a market capitalisation of around $128.8 million, with approximately 422 million shares outstanding.

The post Why the Rex Minerals (ASX:RXM) share price crashed 16% today appeared first on The Motley Fool Australia.

More reading

• One reason why the Domain (ASX:DHG) share price is down 7%
• Brokers name 3 ASX shares to buy today
• Why the EML (ASX:EML) share price is gaining today
• The Vulcan Energy (ASX:VUL) share price is rocketing 14% higher
• If you invested $2,000 in Fortescue (ASX:FMG) shares 5 years ago, this is how much it would be worth now

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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The Domain Holdings Australia Ltd (ASX: DHG) share price is having a rough day on the market.

At the time of writing, shares in the online real estate listings company are swapping hands for $4.55 – down 6.48%.

While the company hasn’t made any price-sensitive announcements in over 2 months, one possible explanation may be spillover from REA Group Limited (ASX: REA)’s full-year results. REA Group is down 5.62% presently to $157.88 per share.

Let’s take a closer look.

The Domain share price is falling

As Motley Fool reported, the REA Group share price is deep in the red despite impressive financial results. REA’s revenue was up 13% to $928 million and net profit jumped 18% to $318 million. Earnings before interest, taxes, depreciation, amortisation (EBITDA) increased 19% to $565 million and the company will pay a dividend of $1.31 per share – up 19% year-on-year.

However, in its report, REA management also revealed that istings for July fell 3% year-on-year. They attributed this to a sharp decline in the Sydney market due to the city’s COVID induced lockdown.

This is an industry wide factor and since Domain and REA Group are competitors, this could explain the steep fall in the Domain share price, as well as REA’s.

The harbour city has been in lockdown for 6 weeks as of writing. During that time, the Domain share price has fallen 10.5% and the REA share price has slumped 4.65%.

Domain share price snapshot

Despite today’s losses, over the past 12 months, the Domain share price has increased 33.9%. The S&P/ASX 200 Index (ASX: XJO), meanwhile, is up 24.4% over the same time period. In other words, Domain has outperformed the ASX 200 by 9.5 percentage points.

Year-to-date is a different story. The ASX 200 is 12.4% higher since the beginning of the year while Domain Holdings is 0.2% lower.

The 52-week high for Domain is $5.61 and its 52-week low is $3.42.

Domain is majority owned by Nine Entertainment Co Holdings Ltd‘s (ASX: NEC) subsidiary Fairfax. It has a market capitalisation of around $2.83 billion.

The post One reason why the Domain (ASX:DHG) share price is down 7% appeared first on The Motley Fool Australia.

More reading

• Why BHP, Northern Star, REA, & ResMed shares are dropping
• ASX 200 midday update: REA & ResMed results, Afterpay jumps
• REA (ASX:REA) share price in focus after strong FY 2021 growth
• 5 things to watch on the ASX 200 on Friday
• Top brokers name 3 ASX shares to buy today

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 REA 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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It has been another busy week for Australia’s top brokers. This has led to the release of a large number of broker notes.

Three broker buy ratings that have caught my eye are summarised below. Here’s why brokers think these ASX shares are in the buy zone:

GUD Holdings Limited (ASX: GUD)

According to a note out of Macquarie, its analysts retained their outperform rating but trimmed their price target on this diversified products company’s shares to $13.60. Macquarie notes that GUD delivered a full year result largely in line with expectations. This was driven by an impressive performance by the company’s Automotive business. And while lockdowns are impacting its performance, Macquarie expects GUD to rebound once trading conditions return to normal. The GUD share price is trading at $11.37 today.

Nick Scali Limited (ASX: NCK)

A note out of Citi reveals that its analysts have retained their buy rating and lifted their price target on this furniture retailer’s shares to $13.80. The broker was pleased with Nick Scali’s FY 2021 results. It also wasn’t surprised with its poor start to FY 2022 because of the impact of lockdowns and was already factoring this into its forecasts. As a result, it remains positive on Nick Scali’s medium term outlook and expects its market position to strengthen once the pandemic passes. The Nick Scali share price is fetching $12.14 on Friday.

Reliance Worldwide Corporation Ltd (ASX: RWC)

Analysts at UBS have upgraded this plumbing parts company’s shares to a buy rating with an improved price target of $6.16. According to the note, the broker expects the repairs and renovation markets to grow, supporting demand for Reliance Worldwide’s products. And while it acknowledges that high copper prices could be a headwind, it expects this to be offset by price increases and cost outs. The Reliance share price is trading at $5.64 today.

The post Brokers name 3 ASX shares to buy today appeared first on The Motley Fool Australia.

More reading

• Banks, NIB and Nuix share prices rise. Nick Scali flying. Scott Phillips on Nine’s Late News
• 2 leading ASX dividend shares that just reported more growth in FY21
• ASX 200 rises, Nick Scali falls, Pinnacle jumps
• Why Emerge Gaming, Imugene, Mesoblast, & Nick Scali shares are dropping
• Nick Scali (ASX:NCK) share price up 5% to record high on FY 2021 results

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 Reliance Worldwide Corporation Limited. The Motley Fool Australia has recommended Reliance Worldwide Corporation Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The EML Payments Ltd (ASX: EML) share price is gaining today despite no news having been released by the company.

However, the S&P/ASX 200 All Technology Index (ASX: XTX) is also gaining, as are many ASX buy now, pay later (BNPL) stocks.

Additionally, the Reserve Bank of Australia’s (RBA) governor Philip Lowe has stated he would like to see a special licencing system for payment providers.

Let’s take a closer look at what might be influencing the financial services company’s shares today.

What’s driving EML Payments?

There’s seemingly no pinpoint moment that’s driving the EML share price today.

However, there have been a few breadcrumbs that could be increasing investors’ sentiment in the payment company.

The first is the bullish BNPL and technology sector. The ASX 200 technology index is up 0.99% today. At the same time, many BNPL stocks are gaining as they have been for most of this week, spurred by an exciting takeover offer handed to Afterpay Ltd (ASX: APT) that hit the news cycle on Monday.

Additionally, governor of the RBA Philip Lowe told a standing committee on economics today that he believes Australia’s regulatory system needs to be adjusted to account for modern payment providers. He said the payments landscape is changing quickly and our regulatory systems need to keep up.

While nothing in particular came of the conversation, aside from flagging the RBA’s concerns, it puts the spotlight on companies like EML Payments, potentially influencing its share price.

Finally, today’s gains could be a rebalancing from the market’s negative reaction to news released by EML Payments on Friday.

Then, the company stated it’s found historical issues regarding cash from dormant and expired e-money accounts. The troubles date to before the company acquired Prepaid Financial Services.

The EML Payments share price fell 2.2% on the back of the news.

EML Payments share price snapshot

Today’s gains aren’t enough to boost the EML Payment share price back into the green.

The company’s shares have fallen 10% since the start of 2021. However, its 21% higher than it was this time last year.

The post Why the EML (ASX:EML) share price is gaining today appeared first on The Motley Fool Australia.

More reading

• What’s going on with the EML Payments (ASX:EML) share price?
• ASX 200 midday update: GUD results, Woodside update, ANZ appointment
• EML (ASX:EML) share price up 5% on Tuesday
• The EML Payments (ASX:EML) share price is falling today. Here’s why
• Two months on, what is the outlook for the EML Payments (ASX:EML) share price?

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended AFTERPAY T FPO and EML Payments. The Motley Fool Australia owns shares of and has recommended AFTERPAY T FPO and EML Payments. 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 Vulcan Energy Resources Ltd (ASX: VUL) share price is ending the week in style. The lithium developer’s shares are rocketed 14% higher today after a week of positive announcements.

It has been a stellar month for the company as lithium prices continue to rise, with expectations of further tailwinds. In the past month, Vulcan shares have delivered a 60% return to shareholders.

Let’s take a look at what’s charging the excitement.

Milestone moments

Investors are bidding up the Vulcan share price leading into the weekend. This follows two notable announcements during the week.

Firstly, on Monday the company revealed its Zero Carbon Lithium Project will produce negative carbon emissions. This was a result of updated data fed into Vulcan’s life cycle assessment.

According to the new data, the lithium project located in western Germany is expected to produce more renewable energy than it would consume in the process. Potentially lucrative, the company plans to export the excess to the German electricity grid. The announcement sent the Vulcan share price roaring ahead on the day.

Secondly, another offtake deal was penned on Monday. In addition to the offtake agreement signed with LG Energy Solution last week, Vulcan can now count Renault as another partner.

According to the release, the agreement will see Renault purchase between 6,000 tonnes and 17,000 tonnes of lithium per annum for 5 years.

Positive lithium potential boosts Vulcan share price

Adding to the positive outlook for Vulcan, analysts at Macquarie are forecasting further momentum in spodumene prices. Optimistic expectations from the analysts follow spodumene prices cracking US$1,000 a tonne. Spodumene is a mineral that contains a source of lithium.

Additionally, the broker explained that global electric vehicle (EV) sales surged 153% year-over-year (YoY) in June to 540,000. Similarly, EV sales came to 2.4 million in the first half — an increase of 161% YoY.

However, the commodities strategy team at Macquarie is forecasting 2021 full-year sales to come in between 4.8 million and 5.3 million.

Rising tide lifts all boats

Thanks to the positive outlook for the lithium sector as a whole, the Vulcan share price is not the only one enjoying a strong performance today. Other ASX-listed lithium developers and producers enjoying the ride on Friday include:

• Piedmont Lithium Inc (ASX: PLL) up 5.33% to 79 cents per share,
• Sayona Mining Ltd (ASX: SYA) up 7.37% to 10.2 cents per share,
• Pilbara Minerals Ltd (ASX: PLS) up 3.47% to $2.09 per shares, and
• Lake Resources NL (ASX: LKE) up 13.04% to 64 cents per share.

All of the above lithium companies have skyrocketed from their respective price points a year ago. The Vulcan share price is now an astonishing 2,300% above where it was a year ago.

The post The Vulcan Energy (ASX:VUL) share price is rocketing 14% higher appeared first on The Motley Fool Australia.

More reading

• Here are the top movers in the ASX 300 today
• Why AnteoTech, BetMakers, News Corp, & Vulcan shares are racing higher
• Why the Vulcan (ASX:VUL) share price is running hot in August
• Why Argosy Minerals, Genworth, Vulcan, & Zip shares are charging higher
• Here’s why the Vulcan (ASX:VUL) share price is rocketing 11% higher

Motley Fool contributor Mitchell Lawler 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 Piedmont Lithium Inc. 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 Fortescue Metals Group Limited (ASX: FMG) share price has risen over the past 12 months, up 24%. And this doesn’t even include the juicy dividends that the company pays shareholders every time it reports its bi-annual results.

Understandably, Fortescue has been a hot topic since the spot price of iron ore has surged to astronomical levels. During July, the steel making ingredient hit US$219.77 per metric tonne – an all-time high. However, as all good things must come to an end, the spot price of iron ore has settled to around US$171.91, down 5.81% today.

Nonetheless, you may be wondering if you invested 5 years ago in Fortescue shares, how much would you have now?

Quick take on Fortescue

Recognised as the world’s fourth largest iron ore miner, Fortescue has become a dominant player in the mining industry. With world-class assets located in the Pilbara region of Western Australia, the company has been booming in recent times.

Fortescue traditionally enjoys a close trade relationship with China, which has been a major consumer of iron ore for the past decade. Although until recently, strained ties between Australia and China have sought to put a dent in the iron ore industry.

How has the Fortescue share price performed in 2021?

In the past 8 months, the Fortescue share price has been swinging both up and down throughout the period.

The company reported a strong quarterly result that drove its shares to a record high of $26.58 in late July. Yet this was only to be met by Chinese rhetoric about cutting its iron ore reliance on Australia. Since then, Fortescue shares have been off a cliff, declining 12% in just 1 week.

What would be the value of Fortescue shares buying from 5 years ago?

If you had invested $2,000 in Fortescue shares in 2016, you would have bought them for around $4.59 a piece. This gives you approximately 435 shares, without reinvesting the dividends received over those years.

Fast-forward to today, the current Fortescue share price is at $22.98. This means that those 435 shares would be worth $9,996.30 (435 shares x $22.98). When looking at percentage terms, this implies an upside of close to 400%, or on average an 80% yearly return.

Are Fortescue shares a buy today?

A number of brokers rated the company with varying price points following its June quarter results in late July.

JPMorgan cut its 12-month price target by 3.3% to $29 for Fortescue shares. Following suit, both Credit Suisse and Goldman Sachs also reduced their rating, down 4.3% to $22, and down 2.9% to $19.90 per share, respectively.

The post If you invested $2,000 in Fortescue (ASX:FMG) shares 5 years ago, this is how much it would be worth now appeared first on The Motley Fool Australia.

More reading

• ASX 200 midday update: REA & ResMed results, Afterpay jumps
• Why the Fortescue (ASX:FMG) share price is tumbling lower on Friday
• 3 ASX 200 mining giants making moves towards renewables
• Fortescue (ASX:FMG) share price falls on COVID-19 scare
• Why the Fortescue (ASX:FMG) share price is struggling this week

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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The Woolworths Group Ltd (ASX: WOW) share price is slightly up after it announced a new range of homeware products it will sell at its Australian supermarkets.

At the time of writing, shares in the consumer staples and retail giant are trading at $40.01 – up 0.54%. For context, the S&P/ASX 200 Index (ASX: XJO) is 0.03% higher.

Let’s take a closer look at today’s news.

Woolworths share price up amid new range launch

Woolworths today launched a new range of home and office accessories in a bid to ramp up sales in non-perishable and non-food divisions.

The new inventory includes bedding, towels, and home office supplies, with prices starting from $10.

The supermarket is taking on Kmart, owned by Wesfarmers Ltd (ASX: WES), a market leader for home products in the value price range. According to a 2019 Roy Morgan poll, 1-in-5 shoppers went to Kmart for their home product needs and a further 5.6% shopped at Target — a brand also under the Wesfarmers umbrella. Since this poll, a number of Target stores have been rebranded as Kmart.

In contrast, Woolworths’ rival brand Big W had only an 8.1% market share.

Big W, which represents Woolworths Group’s homeware appliances business, has been underperforming against other divisions within the company. In its half-yearly update, Woolworths reported that Australian food generated more than $18 billion per square metre (psm), Endeavour drinks saw returns of about $21 billion psm, while Big W generated only $4.4 billion.

Management commentary

Woolworths general manager for non-food, James Hepworth, said:

With many Australians spending more time working from home, we know customers are looking for simple and affordable ways to improve their space.

Our new range features accessories that are perfect for a home office, with bed linens and towels made with eco-friendly materials. With spring just around the corner, this is a great way for customers to get organised to bring a fresh look and feel to their home for great value.

Woolworths share price snapshot

Over the past 12 months, the Woolworths share price has underperformed the ASX 200 by about 4 percentage points – rising 20% to the index’s 24%. Year-to-date, however, it is overperforming the Australian benchmark by about 5.5 percentage points.

Woolworths has a market capitalisation of around $50.4 billion.

The post Woolworths (ASX:WOW) share price rises as it launches new homewares range appeared first on The Motley Fool Australia.

More reading

• Woolworths (ASX:WOW) share price unhurt by call for COVID bouncers
• Woolworths (ASX:WOW) share price up as stores converted to online hubs
• Own Woolworths (ASX:WOW) shares? Here’s what to look for during reporting season
• Pricing power shares like Woolworths (ASX:WOW) help fight inflation: expert
• ASX 200 Weekly Wrap: ASX grinds to a halt following new all-time high

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 Wesfarmers 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 Sezzle Inc (ASX: SZL) share price has risen by around 9% in the month of August to date.

Sezzle is a buy now, pay later business that predominantly has operations in the US, though it has aspirations to expand internationally as well.

Investors may react to news in different ways. Some people may decide to sell on news whilst other investors may decide to buy.

There have been two pieces of important news that may have affected things.

Sezzle’s quarterly update

At the end of July, Sezzle released its 2021 second quarter update.

It said that it reached new highs in the second quarter of 2021 for underlying merchant sales (UMS), active consumers, active merchants and repeat usage.

UMS for the three months to 30 June 2021 increased by 118.7% year on year to US$411.1 million. That was an increase of 9.6% quarter on quarter.

The business reported its income as a percentage of UMS remained steady year on year at 5.9%.

Over the 12 months to 30 June 2021, active customers increased by 95.5% to 2.9 million. It added more than 250,000 active consumers in the quarter.

Management were pleased to report that Sezzle’s consumer profile continued to improve as active consumer repeat usage grew to 91.6%. That was the 30^th consecutive month of improvement.

More than 6,200 active merchants were added in the quarter, bringing the total active merchants to 40,200.

Canada continues to grow rapidly as a source of UMS which now has a run-rate of more than US$100 million during the quarter. Canadian active merchants and active consumers saw year on year growth of 275% to more than 2,500 and 150,000 respectively.

The Sezzle share price fell 8% in early reaction to this update.

Afterpay Ltd (ASX: APT) takeover

A few days ago, investors learned of the huge takeover offer of Afterpay by Square.

At the time of the announcement, it valued Afterpay at $39 billion. But Afterpay shares continue to climb.

Afterpay shareholders are expected to receive a fixed exchange ratio of 0.375 Square shares for each Afterpay share they own.

Square said that buy now, pay later presents an attractive opportunity supported by shifting consumer preferences away from traditional credit, especially among younger consumers, consistent demand from merchants for new ways to grow their sales and the global growth in omnichannel commerce.

Investors sometimes like to use the valuations of other businesses in the same sector to get a ballpark figure to value the business they’re looking at. The Afterpay valuation – which is rising – may be giving the Sezzle share price some impetus.

The broker Ord Minnett rates Sezzle shares as a buy with a price target of $10.60. Ord Minnett thinks there may be other mergers and acquisitions in the space.

The post The Sezzle (ASX:SZL) share price is up 9% this month. Here’s why appeared first on The Motley Fool Australia.

More reading

• Here are the top movers in the ASX 300 today
• ASX 200 midday update: REA & ResMed results, Afterpay jumps
• ASX tech shares lead the market on Friday, Afterpay higher
• Banks, NIB and Nuix share prices rise. Nick Scali flying. Scott Phillips on Nine’s Late News
• Afterpay (ASX:APT) share price surges as Square hits record highs

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. owns shares of and has recommended AFTERPAY T FPO. The Motley Fool Australia owns shares of and has recommended AFTERPAY T FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Following a strong start to the week, Origin Energy Ltd (ASX: ORG) is slipping in late afternoon trading. This is its second consecutive day of losses.

The Origin share price is down 1.84% at the time of writing, leaving shares flat for the full week.

Shareholders to vote on climate change reporting

This morning, in an ASX release unlikely related to Origin’s share price sliding today, the energy company revealed it will submit its climate change reporting for a shareholder advisory vote. That vote will occur at its 2022 Annual General Meeting (AGM).

Commenting on the upcoming vote, Origin’s chairman Scott Perkins said:

The non-binding, advisory vote will complement the continuing conversations we are having with our shareholders and stakeholders about the risks and opportunities climate change presents for the business.

Origin is looking to reduce carbon emissions across Australia’s economy by delivering clean energy and technology solutions.

“Origin has been planning for a low carbon future for a long time and has included climate strategy, climate change risk, and scenario analysis in our reporting for many years,” Perkins said.

“In addition, Origin continues to progress work on the development of more ambitious emissions reduction targets consistent with a 1.5-degree pathway.”

According to the release, in 2017, Origin became the first Aussie company to set science-based targets to cut its Scope 1 and Scope 2 emissions by 50% by 2032.

The company also adopted measures to lower its Scope 3 emissions by 25% over the same timeframe.

To achieve these goals, the company has added additional solar and wind power generation. It reports that renewables currently account for almost 20% of its owned and contracted generation capacity.

With longer-term ambitions to be net zero emissions by 2050, Origin reiterated its intent to close its last remaining coal-fired power station in or before 2032.

Origin share price snapshot

The Origin share price has been on a bit of a rollercoaster this past full year.

With more downs than ups, the Origin share price has lost 26% over the past 12 months. This compares to a gain of 24% on the S&P/ASX 200 Index (ASX: XJO).

Year to date, the Origin share price has continued to struggle, down 11.7% in 2021.

The post Origin (ASX:ORG) share price falls as climate goals put to shareholder vote appeared first on The Motley Fool Australia.

More reading

• The AGL (ASX:AGL) share price just hit its lowest point in 17 years
• Why A2 Milk, Marley Spoon, Origin, & Sezzle shares are tumbling lower
• Here are 3 heavily traded ASX 200 shares on the markets today
• ASX 200 midday update: NAB’s $2.5bn buyback, Origin shares sink
• Origin (ASX:ORG) share price crashes 8% on $2.2bn charge and FY 2022 guidance

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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