Category: Stock Market

Winners keep on winning… That sentiment might be going around today after shares in one of the ASX’s oldest companies –  Brickworks Ltd (ASX: BKW) – hit a new all-time high this morning.

The Brickworks share price started out at $25 today, but climbed to a new mark of $25.64 soon after open. At the time of writing, the price has partially retreated to $25.45, still a gain of 1.07% on yesterday’s close.

However, today’s record is just the latest notch in what is starting to become a whittled down bedpost. Shares in the 87-year-old company hit what was then a new high of $20.65 back in January 2020, just before the COVID-19 pandemic hit.

It took until October last year for the company to reclaim that level after the 2020 market crash. But since then, it’s been onwards and upwards for Brickworks shares. The company, on today’s pricing, is now up 30% year to date, 61% over the past 12 months, and 74% over the past 5 years.

We take a look at what could have been driving the Brickworks share price higher.

What’s behind the rise in the Brickworks share price?

Well, a big driver behind Brickworks’ most recent leg of share-price performance was the update the company gave investors last month.

In this update, the company informed the markets it had added a $100 million boost to its profits as the result of a revaluation of some of its property assets. As such, Brickworks said it now expected to deliver record earnings from its property portfolio for FY21, with property earnings before interest and tax (EBIT) in the range of $240 million to $260 million, up from $129 million a year ago.

Brickworks isn’t only in the business of making bricks and other construction materials. It uses land from its old production sites as property assets. This is an approach that has evidently worked especially well over the past year or so.

However, there is another reason why the Brickworks share price might have reached a new high today. That is the performance of its unofficial ‘sister’ company Washington H. Soul Pattinson and Co. Ltd (ASX: SOL). I say sister company because Soul Patts and Brickworks have a rather unusual ASX relationship. Brickworks owns a large chunk of Soul Patts shares, 39.4% of the entire company in fact. But Soul Patts also owns a large share of Brickworks (43.9% of all shares). As such, the fortunes of these two companies are very much intertwined.

Soul Patts also hit a new all-time high today. Just after market open, Soul Patts shares topped out at a new record of $34.52 a share. This mutually beneficial situation for both companies could be feeding into the Brickworks share price as well today.

Brickworks has a market capitalisation of $3.84 billion, and a trailing dividend yield of 2.37%.

The post The Brickworks (ASX:BKW) share price just hit another all-time high appeared first on The Motley Fool Australia.

More reading

• 2 ASX dividend shares that could provide steady income retirement
• Soul Patts (ASX: SOL) share price hits all-time high
• ASX construction shares like Brickworks (ASX:BKW) are falling today
• These ASX dividend shares keep giving investors a pay rise
• The Brickworks (ASX:BKW) share price hits a new 52-week high

Motley Fool contributor Sebastian Bowen owns shares of Washington H. Soul Pattinson and Company 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 owns shares of and has recommended Brickworks and Washington H. Soul Pattinson and Company Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) has given back most of its morning gains but remains slightly higher for the day. At the time of writing, the benchmark index is up 0.1% to 7,334.7 points.

Four ASX shares that have failed to follow the market higher today are listed below. Here’s why they are dropping:

Magellan Financial Group Ltd (ASX: MFG)

The Magellan share price is down 4.5% to $51.46. This morning analysts at Morgan Stanley responded to the fund manager’s quarterly update by retaining their underweight rating and $39.60 price target on its shares. It notes that Magellan experienced fund outflows during the June quarter, reversing inflows from the previous quarter.

Origin Energy Ltd (ASX: ORG)

The Origin Energy share price is down almost 2% to $4.57. This may have been driven by further weakness in oil prices overnight. In other news, this morning analysts at Credit Suisse retained their neutral rating and lifted their price target on Origin’s shares to $4.50.

Piedmont Lithium Inc (ASX: PLL)

The Piedmont Lithium share price has continued its slide and is down 4% to 91 cents. This is despite there being no news out of the lithium explorer. This latest decline means the Piedmont Lithium share price is now down over 12% since this time last week. It looks as though this has been driven by profit taking. Even after these declines, its shares are up almost 150% in 2021.

WiseTech Global Ltd (ASX: WTC)

The WiseTech Global share price has fallen 3% to $31.23. Investors have been selling the logistics solutions company’s shares following the release of a broker note out of Macquarie. According to the note, the broker has downgraded its shares to a neutral rating and cut the price target on them to $33.00. Macquarie made the move after reducing its earnings estimates slightly to reflect recent container volumes data.

The post Why Magellan, Origin, Piedmont Lithium, & WiseTech Global are dropping appeared first on The Motley Fool Australia.

More reading

• ASX 200 midday update: Zip rockets, AMP asset sale
• ASX 200 rises, Challenger soars, Zip jumps
• Magellan (ASX:MFG) share price is see-sawing today
• These ASX 200 tech shares are beating the broader market today
• Why Nanosonics, Oil Search, Opthea, & Piedmont Lithium are tumbling

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 Piedmont Lithium Inc. and WiseTech Global. The Motley Fool Australia owns shares of and has recommended WiseTech Global. 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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Investors of mining shares might soon be set for a big dividend banquet. The mining sector has outperformed the S&P/ASX 200 Index (ASX: XJO) in the past year by about 5.3% — but according to one broker, the best could be yet to come.

Let’s look at the latest analyst forecast…

Are mining shares the pay dirt of the ASX 200?

Analysts at UBS are estimating US$26 billion (AUD$34.6 billion) worth of dividends will be paid by the world’s biggest mining companies this earnings season. While not all of this would be allocated to ASX companies and shareholders, there would still be some sizeable gems for Aussies.

Furthermore, the broker explained the iron ore, copper, and nickel price strength had opened the potential for record dividend payments.

The US$26 billion figure forecasted by analysts is shared between Rio Tinto Limited (ASX: RIO), BHP Group Ltd (ASX: BHP), Fortescue Metals Group Limited (ASX: FMG), Anglo American, and Glencore. While the last two are not ASX-listed, the others feature in the ASX 200.

UBS basic materials analyst, Miles Allsop said:

We expect BHP to positively surprise due to stronger than expected first-half earnings per share, Anglo to positively surprise by moving to a 60 per cent payout ratio (from 40 per cent historically) and Glencore to slightly disappoint by sticking to the US6c-a-share commitment made in February 2021

Aside from Rio Tinto, Allsop also expects strong production numbers for the first half from Aussie iron ore producers.

Dividends to add more dollar signs

Investors of ASX 200 mining shares could be set to grow their gains even further if UBS’ predictions are accurate. This would be on top of an already solid past year of share price appreciation.

For example, Rio Tinto, BHP, and Fortescue have rallied an impressive 33%, 38.5%, and 62.4% respectively. This news follows asset manager Janus Henderson yesterday forecasting a ‘dividend bonanza‘.

The post Mining shares in the ASX 200 might unearth US$26b worth of dividends appeared first on The Motley Fool Australia.

More reading

• The BHP Group share price is rising again — so where to from here?
• The Fortescue Metals (ASX:FMG) share price just surged 3% this morning
• Here’s what leading brokers are saying about the BHP (ASX:BHP) share price in July 2021.
• Leading broker names 3 blue chip ASX shares to buy
• Leading brokers name 3 ASX shares to buy today

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. 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 energy shares have broadly reaped the rewards of rapidly rising energy prices over the past 12 months.

While the price of most energy sources, including coal and uranium, have increased, for the purposes of this article, we’ll narrow our focus on the oil markets. And on 3 leading ASX energy shares that concentrate on oil and gas production.

Namely, Santos Ltd (ASX: STO), Woodside Petroleum Limited (ASX: WPL) and Oil Search Ltd (ASX: OSH).

How have oil prices moved?

There are a few major crude benchmarks you can look to for global oil prices. The 2 we tend to quote here are Brent and West Texas Intermediate (WTI). While the 2 don’t move in perfect correlation, they do track one another fairly closely.

So how has WTI moved over the past year?

12 months ago, WTI was selling for US$40.62 (AU$54.16) per barrel. Today that same barrel is worth US$71.73. That’s an increase of 76%. And we’re not even going back to the early pandemic market lows, when WTI fell to US$16.94 per barrel on 24 March 2020.

Little wonder then that leading ASX energy shares involved in the sector have enjoyed outsized gains.

The Santos share price, for example, is up 41% over the past 12 months. The Oil Search share price has gained 29% over that same time. Only Woodside, up 12%, trails the 24% gains posted by the S&P/ASX 200 Index (ASX: XJO) since this time last year.

What can ASX energy shares expect from global oil prices?

Many factors will influence the price of crude oil over the remainder of 2021, and hence impact on ASX energy shares. How well the world manages to stamp down COVID-19 and reopen borders and travel remains a wild card.

Output from OPEC+ also remains somewhat of a wild card. The cartel failed to reach an agreement on any production increases last week, with the biggest rift appearing between Saudi Arabia and the United Arab Emirates (UAE).

For a more concrete idea of future global oil supply, we turn to the United States, which was briefly the world’s largest oil producer in the months prior to the pandemic.

Yesterday (overnight Aussie time) the US Energy Information Administration (EIA) released its new domestic oil production report. As Bloomberg reports, the EIA “sees limited domestic oil production growth through next year despite rising oil prices and rebounding demand”.

The EIA expects US crude output in 2022 to reach 11.9 million barrel per day (bpd), an increase of only 60,000 bpd from it previous forecast. The agency upped its price forecast for WTI in 2022 by US$6.23 per barrel to US$62.97 per barrel.

While that’s below today’s prices, it’s well above what crude was selling for 12 months ago.

Saxo Market’s head of commodity strategy, Ole Hansen, also offered a fairly bullish outlook for oil, noting US producers’ reluctance to turn the taps back to full. In Saxo’s Q3 2021 Quarterly Outlook report, Hansen writes:

While not in short supply, the oil market will be supported by a period of synchronised global demand growth where OPEC+ can increasingly control the price given the prospect of a lack of response to higher prices from non-OPEC+ producers; this is especially true for those producers in North America who are no longer pumping at all cost…

Tightening market conditions emerging during the past six months are another reason why, for the first time in a number of years, asset managers are once again viewing commodities as an interesting investment case.

As I wrote up top, a number of wildcards remain in play as to how oil prices will move. But if demand grows and increased output remains tight, it should offer continuing tailwinds for ASX energy shares.

The post How new US oil forecasts could impact ASX energy shares appeared first on The Motley Fool Australia.

More reading

• 5 things to watch on the ASX 200 on Thursday
• ASX 200 oil shares tumble as OPEC+ nations squabble
• Why Nanosonics, Oil Search, Opthea, & Piedmont Lithium are tumbling
• ASX 200 up 0.55%: Challenger jumps, Nanosonics sinks
• Woodside (ASX:WPL) share price lower despite acquisition update

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 Commonwealth Bank of Australia (ASX: CBA) share price will be one to watch over the next few weeks in the run up to the release of its full year results in August.

Ahead of the release, the team at Bell Potter have revealed what they are expecting from the banking giant.

What to expect from the CBA full year result

CBA is scheduled to release its full year results in just over a month on 11 August. According to the note, Bell Potter is forecasting a cash net profit after tax of $8.51 billion for the 12 months ending 30 June. This will be an increase of 16.5% from $7.3 billion a year earlier. It also implies a half on half 19% cash net profit after tax increase in the second half.

Bell Potter expects this to be driven largely by a low loan impairment expense coupled with steady growth in operating income and a decline in operating expense.

Its analysts commented: “Our cash NPAT estimates on a continuing basis are increased by up to 20% mainly due to changes in loan impairment expenses (and with this decreasing to 6% in the following year). While we were caught off-guard by the speed of recovery in mainstream banking, we still expect operating income and operating expense growth to result in a 2-3% “Jaws” in the long term.”

What about the CBA dividend?

Based on the current CBA share price, Bell Potter is forecasting an attractive dividend yield from the banking giant in August.

It estimates that the CBA dividend in 2021 will be a fully franked $3.34 per share, which represents a 3.4% yield. This comprises a final dividend of $1.84 cents per share and its interim dividend of $1.50 per share.

Looking ahead, the broker is expecting the CBA dividend to continue to increase in the years that follow. And expects it to exceed a 4% yield by 2023.

Is the CBA share price in the buy zone?

Bell Potter has increased its CBA share price target to $105.00 but lowered its rating to neutral.

It explained: “The price target is increased by $15.00 to $105.00 as such. CBA’s better dividend prospects in the medium term (yield reaching back to around 4.0% by 2023) and solid recovery in consumer, business and institutional banking may be intact but we have decided to lower the rating from Buy to Hold in the meantime.”

The post What to expect from the Commonwealth Bank (ASX:CBA) FY 2021 result appeared first on The Motley Fool Australia.

More reading

• NAB (ASX:NAB) share price up following prediction of no rate hike until 2024
• ANZ (ASX:ANZ) share price takes the cake among big four bank shares
• Is the CBA (ASX:CBA) share price worth buying at $100?
• CBA (ASX:CBA) economists expect inflation sooner than RBA
• Forget CBA! Here are the 5 best performing ASX bank shares of FY21

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 BHP Group Ltd (ASX: BHP) share price is having another impressive day on the ASX. At the time of writing, BHP shares are up a robust 1.54% to $49.54. That’s about 4% off its all-time high of $51.82 that we saw back in May.

The BHP share price is now up 8.6% since 21 June. That is in addition to being up 15% year to date, and 38.5% over the past 12 months.

So where to now for the BHP share price?

Could BHP shares be a buy today?

Well, one broker who thinks it could be onwards and upwards from here is investment bank Goldman Sachs. Goldman currently has BHP shares rated as a ‘buy’. It has a 12-month share price target of $53.80 for BHP.

That implies potential upside of 8.5% on the current share price. Goldman is expecting high commodity prices (mainly coal, copper and oil) to tip buckets of cash into BHP over the next year.

It’s also expecting a 50% increase in earnings and a doubling in free cash flow. That price target doesn’t include dividends though. Goldman is anticipating US$2.58 ($3.46) in dividends per share from BHP over FY2022. That would equate to a forward and fully franked dividend yield of 6.97% on current pricing.

Goldman isn’t the only one bullish on BHP shares right now. As my Fool colleague James covered yesterday, Macquarie is another broker who rates BHP as a buy today. Macquarie currently has a 12-month share price target of $63 on BHP shares. That would imply an upside of almost 27%. Macquarie is also expecting material increases in the company’s dividends going forward.

At the current BHP share price, the company has a market capitalisation of $143.76 billion, a price-to-earnings (P/E) ratio of 27.15 and a trailing dividend yield of 4.16%.

The post The BHP Group share price is rising again — so where to from here? appeared first on The Motley Fool Australia.

More reading

• Here’s what leading brokers are saying about the BHP (ASX:BHP) share price in July 2021.
• ASX 200 Weekly Wrap: ASX finishes FY21 on a high
• ASX blue chips set to unleash buybacks and dividends! But which is better?
• These high yield ASX dividend shares could be buys
• BHP (ASX:BHP) share price caught between bulls and bears in June

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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ASX renewable energy shares have been an area that has been attracting an enormous amount of investors attention over the past few years. With the upcoming transition to sourcing energy from renewable sources, many investors are keen to get in front of this trend, and find the energy winners of tomorrow.

Whilst the renewable energy space has seen its fair share of twists and turns over the 20201 financial year that has just passed us by, it has still been a very interesting 12 months for this exciting sector. So let’s check out how the major ASX renewable energy shares have performed over the 12 months to 30 June 2021:

How some of the most popular ASX renewable energy shares have performed in FY21:

ASX renewable energy share	FY2021 share price performance	Market capitalisation
Tilt Renewables Ltd (ASX: TLT)	121.1%	$2.85 billion
Infratil Ltd (ASX: IFT)	66.7%	$5.23 billion
Mercury NZ Ltd (ASX: MCY)	42.1%	$8.8 billion
Contact Energy Limited (ASX: CEN)	32.3%	$6.36 billion
Genesis Energy Ltd (ASX: GNE)	19.2%	$3.51 billion
Meridian Energy Ltd (ASX: MEZ)	7.6%	$12.43 billion
Spark Infrastructure Group (ASX: SKI)	4.2%	$4 billion
New Energy Solar Ltd (ASX: NEW)	(27.9%)	$298.4 million
AGL Energy Limited (ASX: AGL)	(52%)	$5.1 billion

As you can see, the winning ASX renewable energy share for FY21 was Tilt Renewables. Tilt owns a portfolio of solar and wind farms across Australia and New Zealand. Tilt managed to put up some relatively pleasing numbers in its May full-year results.

But perhaps the biggest driver of the Tilt share price over the 2021 financial year was its suitors. Over the past year or so, Tilt has been sought after for a full takeover by both major shareholder Infratil, and Mercury NZ. Offers from both companies came out over the past 12 months, and each one gave a huge boost to the Tilt share price. Tilt shares are still on the ASX in their own right, but perhaps not for too much longer. This pursual of Tilt has also seemingly given both the Infratil and Mercury NZ share price boosts of their own, something we covered in depth back in February.

Shocks and awe

However, with Contact Energy we had a company that seemed to solely benefit from its earnings numbers over FY21. Back in January, the company got a massive share price boost when it released its monthly operating report. A big jump in the price per megawatt hour (MWh) that Contact received for its electricity generation seemed to be what got investors excited. Although the Contact share price spent the rest of the financial year retreating from the highs it saw in January, the company still managed a healthy 32.3% gain for FY21. We saw a similar occurrence with the Genesis Energy share price.

Finally, it’s worth mentioning the elephant in the room, AGL Energy. Although AGL is a long way from a pure renewables company, it is taking steps in this direction. Not only does AGL have a growing portfolio of renewable generation sets, but it’s also planning on splitting itself into two companies. However, AGL’s share price woes over FY21 largely stem from falling wholesale electricity prices, as well as the declining value of its fossil fuel-powered generation assets. At its current share price ($8.14 at the time of writing), you’d have to go back to 2004 to find the last time AGL was at its current levels. Ouch.

The post How did ASX renewable energy shares perform in FY21? appeared first on The Motley Fool Australia.

More reading

• A dividend bonanza could be inbound for ASX shares, here’s why
• Best and worst performing ASX sectors of financial year 2021
• AGL and Zip shares were among the most traded ASX shares last week
• ASX 200 up 0.2%: Westpac asset sale, Ramsay increases Spire offer
• ASX 200 Weekly Wrap: ASX finishes FY21 on a high

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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Nex Metals Explorations Ltd (ASX: NME) shares are skyrocketing on Thursday. At the time of writing, the Nex Metals share price is gaining a whopping 165.22% to trade at 7.7 cents.

Below we take a look at the ASX gold minnow’s latest assay results.

What assay results did the gold explorer report?

The Nex Metals share price is soaring today after the company announced bonanza gold results at the McTavish Prospect at its Kookynie Gold Project in Western Australia.

The results were reported by Metalicity Ltd (ASX: MCT), the company’s joint venture partner in the project. The report is also seeing the Metalicity share price gaining by more than 27% today.

According to the release, the results have extended the mineralisation zone to the south of McTavish. The company said 2 kilometres of strike between McTavish and Leipold remain open, with an increasing chance of defining similar high-grade lodes.

The Nex Metals share price looks to be getting a boost from what the company labels “spectacular results”. Such as:

– McTRC0049 – 5 metres @ 25.9 g/t from 28 metres including:

• 3 metres @ 41.5 g/t from 30 metres,
• 1 metre @ 91.2g/t Au from 30 metres;

– McTRC0064 – 6 metres @ 20.6 g/t from 19 metres including:

• 4 metres @ 29.1 g/t from 20 metres;

– McTRC0044 – 3 metres @ 19.1 g/t from 88 metres including:

• 1 metre @ 52.8 g/t from 89 metres; and

– McTRC0051 – 4 metres @ 3.5 g/t from 8 metres including:

• 1 metre @ 11.4 g/t from 10 metres

Nex Metals and Metalicity have 38 holes which still remain outstanding from Champion and Cosmopolitan.

Commenting on the promising results, Metalicity CEO Justin Barton said:

These are spectacular assay results from McTavish. With McTavish open along strike and at depth, and the results to date from Leipold, not only does this bode incredibly well for the pending Mineral Resource Estimate; it is also incredibly encouraging for the 2 kilometres of strike between McTavish and Leipold.

With the pending JORC 2012 Mineral Resource Estimates over McTavish, Champion and Leipold, which are all on mining licenses, this provides the company with excellent optionality over these prospects.

Nex Metals share price snapshot

Despite today’s meteoric gains, the Nex Metals share price is still down by around 20% over the past 12 months, a period that saw the All Ordinaries Index (ASX: XAO) gain 26%.

Year to date, Nex Metals shares are now up by around 37%.

The post Why the Nex Metals (ASX:NME) share price is rocketing up 165% today appeared first on The Motley Fool Australia.

More reading

• How did ASX renewable energy shares perform in FY21?
• Here’s why the Fertoz (ASX:FTZ) share price is sinking 6% today
• The 5 best performing ASX healthcare shares of FY21, did yours make the cut?
• Megaport (ASX: MP1) share price up on the back of a record quarter
• Payright (ASX:PYR) share price jumps 6% on partnership announcement

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 Fertoz Ltd (ASX: FTZ) share price is having a day to forget today. This comes after the organic fertiliser producer announced an update on its recent share placement.

During mid-afternoon trade, Fertoz shares are down 6% to 23.5 cents apiece. In earlier trade, the company’s shares had dropped by more than 13% before staging a partial recovery. In comparison, the All Ordinaries Index (ASX: XAO) is up 0.07% to 7,604.80 points.

What’s dragging the Fertoz share price lower?

Investors are scrambling to sell Fertoz shares as the company prepares to dilute existing shareholder value.

According to its release, Fertoz advised it has received firm commitments to raise $5 million through a share placement. The offer was presented to both sophisticated and professional investors at an issue price of 15 cents per share. This equates to roughly 33.33 million new ordinary shares being added to the company’s registry.

The shares will be split across two separate tranches, with the first portion falling under the company’s listing rule 7.1. This allows up to 15% or 20 million new shares to be issued without shareholder approval.

The second portion of shares will be subject to shareholder approval at an extraordinary general meeting (EGM) to be held in 6 weeks.

Proceeds of the placement will be used to accelerate development of the company’s carbon division. In particular, this will focus on carbon sequestration, consulting activities, trading and implementation of carbon strategies using Fertoz organic fertilisers.

The remaining monies will be also allocated to recruiting carbon specialists and expanding Fertoz’s North American organic phosphate sales team.

Management commentary

Fertoz executive chair Patrick Avery spoke about the placement, saying:

Our Carbon division is an exciting growth opportunity for Fertoz, and we are pleased to receive strong support from new and existing shareholders to enable us to accelerate its development.

Carbon credits are a growing trend right now and we want to capitalise on our position to be a leader in this field. Our Carbon division has already proved popular with customers and will greatly enhance our ESG credentials.

In addition, completing this $5 million placement will enable us to grow our sales team in North America, and it is important to us to continue to scale up our organic fertilizer operations as the foundation of our business across multiple regions.

The Fertoz share price has gained more than 230% over the past 12 months and is also up by over 300% in 2021.

The post Here’s why the Fertoz (ASX:FTZ) share price is sinking 6% today appeared first on The Motley Fool Australia.

More reading

• Up 240% in June, the Fertoz (ASX:FTZ) share price hit a 52-week high 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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Healthcare is a constantly changing industry in which you may be asking yourself if your investments are up to date. While the healthcare sector underperformed the S&P/ASX 200 Index (ASX: XJO) in FY21, there were still some ASX-listed showstopping shares in the mix.

We have compiled the five best-performing healthcare shares of FY21 to gain an understanding of the companies that performed where others slumped.

The pool of candidates is contained to constituents of the top 500 largest companies on the ASX – also known as the All Ordinaries Index (ASX: XAO).

So, the question is… did any of your shares make the cut?

Healthiest returns from these ASX shares in FY21

You might notice it’s not the likes of CSL Limited (ASX: CSL) or Cochlear Limited (ASX: COH) making the list this time around.

Instead, the smaller end of the index produced handsome returns to shareholders in the last financial year.

Immutep Ltd (ASX: IMM)

The first healthcare company making the top 5 is also the smallest by market capitalisation at $400 million. Immutep is a biotechnology company that primarily focuses on the development of immunotherapy cancer treatments. The company’s main product is efti, which enables the immune system to kill cancer cells.

Investors rallied around positive developments for the biotech throughout FY21. Some notable steps forward included receiving fast track designation from the United States Food and Drugs Administration (FDA) in April; being granted a patent from China in May, and raising $65 million for further clinical trials in June.

As a result of all the excitement, this ASX healthcare share surged 244% during the 2021 financial period.

Telix Pharmaceuticals Ltd (ASX: TLX)

Telix is another biotech company trying to tackle cancer. However, Telix’s area of development is in the radiation therapy space, rather than immunotherapy. Despite annual revenues being sub-$6 million and the company experiencing widening losses, investors were buying up shares in FY21.

It appears several news events acted as a catalyst for the company’s shares. Back in May, Telix announced that its bone marrow conditioning drug TLX66 had “met study objectives” in patients during a clinical trial. On top of that, in January the FDA approved recruitment for a study involving Zirconium Imaging in Renal Cancer Oncology (ZIRCON).

By the end of the financial year, this ASX healthcare share had climbed 307%. It might be hard to believe, but Telix Pharmaceuticals now holds a $1.61 billion market cap.

Race Oncology Ltd (ASX: RAC)

Coming in at number three on the list, Race Oncology is another cancer drug developer. The company’s specific drug of focus is Bisantrene, which is a small molecule anti-cancer drug that is a less cardiotoxic chemotherapeutic.

Throughout the last financial year, Race announced some key data for progressing its treatment. In November, the company announced preclinical results for the use of Bisantrene in treating breast cancer. The evidence allowed the treatment to progress to human breast cancer trials. Additionally, in February Race Oncology’s treatment displayed encouraging preclinical results for the treatment of ovarian cancer.

These findings have been met with investor enthusiasm. For that reason, the Race Oncology share price surged 307% in FY21. That’s nearly 10 times as great of a return than what Cochlear shareholders enjoyed.

Imugene Limited (ASX: IMU)

Strap yourself in for this ASX healthcare share, the returns are about to get crazy… Our first official 10 bagger on the list is immune-oncology company Imugene. This company’s share price rose an astonishing 1009% during the course of the financial year.

There were a few milestones that set the pace for this company’s shares. To begin with, November saw Imugene announce positive survival results in phase 2 trials of its HER-Vaxx in advanced gastric cancer. Going on from that, the company then licensed an oncolytic virus from City of Hope to use as a therapy against solid tumours.

Finally, the last big push occurred when the executive chairman and CEO announced they were increasing their shareholding in the company in May.

Anteotech Ltd (ASX: ADO)

Lastly, crowning the very best performing ASX healthcare share in FY21… surface management technology specialist, AnteoTech. This company has surfed the COVID-19 wave, where other companies were dumped by it.

A major boom in the Anteotech share price occurred when its customers, Ellume, announced an agreement with the United States Department of Deference for its emergency use authorisation COVID-19 at-home test. The reason being is that AnteoTech supplies Ellume with its AnteoBind technology.

In addition to the company supply COVID test, it has its own rapid test platform dubbed EuGeni. The EuGeni reader received CE Mark registration for rapid diagnosis in April.

The market potential for rapid COVID testing catapulted this ASX share’s price 1,175% higher in the last financial year.

The post The 5 best performing ASX healthcare shares of FY21, did yours make the cut? appeared first on The Motley Fool Australia.

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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. 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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