Category: Stock Market

The iSelect Ltd (ASX: ISU) share price is going gangbusters today after the online comparison site announced a partnership with Bupa HI Pty Ltd.

Rising 11.1% to hit a new 52-week record of 40 cents a share, the iSelect share price has since slightly retreated to 38.5 cents per unit – still up 6.94%.

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

What’s the deal?

In today’s statement to the ASX, iSelect declared its subsidiary, iSelect Health Pty Ltd, added Bupa to its list of health insurance providers that offer their services on its website.

With a minimum term of 12 months, iSelect is entitled to an unspecified premium for all Bupa sales that originate on its website. According to the statement, this is the first time Bupa and iSelect have partnered together. The company called today’s announcement a “significant milestone”.

Investors have welcomed today’s news, judging by the iSelect share price movement.

According to the website Comparing Expert, Bupa is Australia’s second most popular health insurance provider, with 25.4% market share. In total, 53% of Australians have some form of general health cover.

Management commentary

iSelect CEO Warren Hebard said

Expanding our range of providers is essential to ensure we remain Australia’s go-to destination for comparing and saving across insurances, utilities and personal finance. Our highly-trained consultants are ready to compare our new broader range, and we look forward to building and growing our new relationship with Bupa.

Bupa’s domestic health insurance director Chris Carroll added:

We know people buy health insurance in different ways and this partnership means more customers can have access to Bupa products and gain peace of mind from our cover.

We want to make health insurance as easy, convenient and accessible as possible, and partnering with iSelect ensures our policies are in front of people when they are looking to take out cover for themselves and their families.

iSelect share price snapshot

Over the past 12 months, the iSelect share price has increased 51% to its current price of 38.5 cents. Only 2 years ago, however, iSelect shares were trading for 62.5 cents each, representing a 38.4% fall since then. It should be noted the COVID-19 pandemic began within this period, with significant impacts on the healthcare sector.

iSelect has a market capitalisation of $84 million.

The post iSelect (ASX:ISU) share price rockets 11% to new 52-week record. Here’s why appeared first on The Motley Fool Australia.

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• The Lynas (ASX:LYC) share price is gaining 7% today
• US inflation numbers are accelerating. How will ASX shares fare?

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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Fortunately, in this low interest rate environment, there are countless dividend shares for investors to choose from on the Australian share market.

But with so many to choose from, it can be hard to decide which ones to buy. To narrow things down, I have picked out three ASX dividend shares brokers think investors should buy:

Coles Group Ltd (ASX: COL)

According to a note out of Credit Suisse, its analysts have retained their outperform rating and $18.19 price target on this supermarket operator’s shares. This follows a review of supermarket trading conditions. The broker is expecting Coles to declare a 63 cents per share fully franked dividend in FY 2021 and then a 67.6 cents per share dividend next year. Based on the current Coles share price of $16.69, this will mean yields of 3.8% and 4.1%, respectively, over the next two years.

DEXUS Property Group (ASX: DXS)

A note out of Morgan Stanley reveals that its analysts have retained their overweight rating and $11.70 price target on this property company’s shares. This follows the company’s decision to acquire a 7% stake in Australian Unity’s Healthcare Trust for $180 million. Morgan Stanley is forecasting distributions of 50.3 cents per share in FY 2021 and then 48.8 cents per share in FY 2022. Based on the current DEXUS share price of $10.81, this implies potential yields of almost 4.7% and 4.5%, respectively.

Fortescue Metals Group Limited (ASX: FMG)

Analysts at Macquarie have retained their outperform rating and lifted their price target on this iron ore producer’s shares to $27.00. The broker made the move after upgrading its forecasts to reflect high iron ore prices. In respect to dividends, Macquarie is expecting a $3.40 per share dividend in FY 2021 and a $2.43 per share dividend in FY 2022. Based on the current Fortescue share price of $23.32, this represents fully franked yields of 14.5% and 10% over the next two financial years.

The post Top brokers name 3 ASX dividend shares to buy 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. has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended COLESGROUP DEF SET. 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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Shares in Allegiance Coal Ltd (ASX: AHQ) are flying today, gaining 12.8% despite no new announcements to the ASX today. At the time of writing, the Allegiance share price is trading at 75 cents.

Earlier today, the Allegiance share price reached a new all-time high of 78 cents,18% higher than yesterday’s close.

Price of coal

The coal miner’s share price gains come while the price of coal is skyrocketing ­and China is attempting to cool it. Increasing global demand – alongside China’s embargo of Australian coal ­– has sent the commodity’s price soaring.

Currently, one tonne of coal is selling for US$107.04.

But enough of politics and commodity prices, let’s look at what Allegiance has been up to lately.

Recent news

The last time we heard from Allegiance was in late May.

Then, Allegiance updated the market with news it had started production at the Blue Seam of its New Elk coal mine in the United States.

The operation’s start date had previously been delayed due to COVID-19 impacts.

According to Allegiance, the delay allowed it to sell 4 lots of 70,000 tonnes of cargo from the site to Asian steel mills. It was also in talks to sell another 10,000 to 20,000 tonnes to a steel mill in Europe.

Allegiance share price snapshot

2021 has been good to the Allegiance share price on the ASX. It’s gained 93% since the beginning of the year. It is also 110% higher than it was this time last year.

Allegiance has a market capitalisation of around $185 million, with approximately 280 million shares outstanding.

The post The Allegiance Coal (ASX:AHQ) share price is up 13% today appeared first on The Motley Fool Australia.

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

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The Mandrake Resources Ltd (ASX: MAN) share price is having a woeful day following an update on its capital raise.

During mid-afternoon trade, the mineral exploration and development company’s shares are down 6.25% to 22.5 cents.

What did Mandrake announce?

Investors are scrambling to sell Mandrake Resources shares as the company is set to dilute existing shareholder value.

According to its release, the mining outfit announced it has $12 million in firm commitments by a way of placement. The offer saw strong demand from both institutional and sophisticated investors.

In total, 60 million new ordinary shares will be issued at a price of 20 apiece to each participating investor. This represents a discount of around 12.3% to the 15-day volume weighted average price (VWAP).

Mandrake Resources will use its existing placement capacity to create the new shares. Under listing rule 7.1, this allows up to 15% of its total shares to be issued without shareholder approval. The company will use an extension to the listing rule (7.1A) to issue the remaining shares with the additional 10% capacity.

The proceeds of the placement will see Mandrake Resources commence an immediate drilling program of the Newleyine PGE-Ni-Cu target. In addition, the company will conduct a geological and geophysical assessment of the area.

Mandrake Resources will also use the funds to undertake a further reverse circulation (RC) drilling at the Berinka Au-Ag-Cu project. This is expected to begin around July or August of this year.

It is expected the placement offer shares will be settled and allotted to investor portfolios sometime around 17 June 2021.

Mandrake Resources managing director, James Allchurch said:

We are pleased to welcome new institutional and sophisticated investors to the shareholder register. The strong response received for this capital raise reflects the potential for our portfolio of assets, in particular the imminent drilling campaign at the Newleyine project.

About the Mandrake Resources share price

The Mandrake Resources share price has been one of the best performers on the ASX, rocketing over 900% in the past 12 months. The company’s shares have soared on the back of positive investor sentiment, particularly in the commodity of copper.

Mandrake Resources commands a market capitalisation of roughly $81 million, with approximately 363 million shares currently on its registry.

The post Why the Mandrake Resources (ASX:MAN) share price is sinking 6% appeared first on The Motley Fool Australia.

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

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It’s been a crazy year to date for the Lynas Rare Earths Ltd (ASX: LYC) share price, which is gaining once more today. At the time of writing, Lynas shares are swapping hands for $5.815 – 6.7% more than at yesterday’s close.  

While there’s no news out of the company to explain the increase, it’s not the first time shares in Lynas have shown mysterious volatility.

Let’s take a gander at what the rare earths producer has been up to lately.

Latest news from Lynas

The last time we heard price-sensitive news from Lynas was on 20 April, when the company released its quarterly report. Despite the report’s seemingly positive content, the Lynas share price fell 16.77% over the three days following its release.

Inside its quarterly report, Lynas shared that it had increased its production of rare earth oxide, while its neodymium and praseodymium production was slightly lower than the previous quarter. Rare earth spot prices had also gained over the quarter.

Since then, Lynas shares have continued to bounce around. They have both dramatically gained and fallen multiple times for no clear reason.

Lynas share price snapshot

Despite experiencing plenty of drama lately, the Lynas share price has been performing well overall.

It’s currently up by around 45% year to date. It has also gained around 190% since this time last year.

The company has a market capitalisation of around $5.2 billion, with approximately 901 million shares outstanding.

The post The Lynas (ASX:LYC) share price is gaining 7% today appeared first on The Motley Fool Australia.

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

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All eyes have been fixed on the state of the United States economy – even more so than usual. The US has arguably been leading the global economic recovery.

Its giant stimulus package that was passed in March has given the US economy a major boost. And the country is also a leader in coronavirus vaccine numbers, with roughly half the population now fully vaccinated.

Last month, US inflation figures for April surprised many commentators – and the markets – with their strength. The US economy posted its highest inflation numbers in 12 years, with a 0.9% rise in the consumer price index (CPI) for the month of April.

Today we get a look at these same numbers for the month of May.

What’s happening with US inflation?

According to the US Bureau of Labor Statistics, the American CPI rose another 0.6% on a seasonally adjusted basis during May. ‘Core inflation’, which excludes food and energy prices, rose 0.7%.

Over the past 12 months, prices have risen 5% before seasonal adjustment. This was reportedly the largest annual rise since August 2008. However, it does include a large impact from the coronavirus pandemic last year. So take that figure with a grain of salt.

Used cars and trucks were one of the largest contributors to this move, with this sector rising by 7.3% over May.

According to a report in today’s Australian Financial Review (AFR), these figures have some economists concerned about future inflation. And, more pressingly, how central banks like the US Federal Reserve and the Reserve Bank of Australia (RBA) will respond.

The AFR quoted Scotiabank’s Derek Holt as saying:

Base effects? Oh please. Transitory? We’ll see, but it’s not obvious that price pressures will prove to be fully fleeting… The Fed needs to sound less certain about transitory factors because the Fed’s base effect argument is getting overwhelmed by data.

The AFR put forward that this opinion was backed up by Allianz adviser Mohamed El-Erian, who said:

We will likely be told by some not to worry as this is ‘transitory’. That’s unfortunate. As I’ve argued for a while now, both the scale and scope of the micro and macro data necessitate a more open mindset.

However, others are not so worried. US president Joe Biden’s administration has reportedly said the global shortage of semiconductor chips, which is unlikely to be permanent, is a major contributor to the rising prices.

What this might mean for ASX shares

If higher inflation persists over time, that is, beyond any ‘transitory’ phase or chip shortage, it would likely be bad news for ASX shares.

The RBA and the US Fed have both signaled they are committed to keeping interest rates at their current record low levels until at least 2024. If unexpectedly higher inflation forces their hands earlier than this, it could result in bad news for ASX shares.

That’s due to higher interest rates generally resulting in downward pressure on share markets. This is because when rates rise, ‘safer’ investments such as term deposits and government bonds will pay higher interest rates. This attracts investors away from ‘riskier’ shares.

We’ll have to wait and see if these numbers out of the US are indeed just a result of chip shortages and a recovering economy, or the start of a new inflationary period. Investors are probably hoping for the former after this news today.

The post US inflation numbers are accelerating. How will ASX shares fare? appeared first on The Motley Fool Australia.

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

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Zip Co Ltd (ASX: Z1P) shares are among the top-performing S&P/ASX 200 Index (ASX: XJO) tech stocks today. At the time of writing, the Zip share price is pushing 7.13% higher to $7.36.

What’s driving the Zip share price today?

Today’s meaningful move comes without any price-sensitive announcements from the company.

The last time we heard from Zip was its global expansion announcement on 24 March. This move would see the company acquire the remaining shares in its two minority investments in Europe and the Middle East.

Today’s strong move up could be in response to broader market movements across the tech index, Zip’s buy now, pay later (BNPL) peers and a slump in bond yields.

Life coming back to tech shares

The S&P/ASX 200 Info Tech Index (ASX: XIJ) took a beating between April and May, with a peak to trough fall of about 20%. This was driven by the weakness in large-cap players such as Afterpay Ltd (ASX: APT), Xero Limited (ASX: XRO) and WiseTech Global Ltd (ASX: WTC).

The tech index has rallied by around 2% today, and is up by around 8% in June.

Elsewhere, the Nasdaq Composite (NASDAQ: .IXIC) pushed 0.78% higher overnight, putting it within 2% of all-time record highs.

Zip rivals join in on the rally

Investors are also buying Afterpay shares on Friday, with the leading BNPL operator pushing 5.02% higher at the time of writing to $104.86. Afterpay shares have rallied by more than 10% in June to reach a 1-month high.

Another key BNPL stock making some moves is the US-listed, Affirm Inc (NASDAQ: AFRM). Affirm shares have experienced a similar bearish narrative of late, sliding from February highs of US$146.90 to May lows of US$46.50. The company’s shares have staged a comeback in recent weeks, currently fetching US$63.68.

US bond yields slide overnight

Since last Friday, benchmark US Government bond yields have copped a 10% fall from about 1.625% to 1.459%.

The slump in yields coincided with the S&P 500 Index (SP: .INX) closing at record all-time highs last night, as well as the tech-heavy Nasdaq edging 0.78% higher, just ~1.35% away from April record highs.

Zip share price snapshot

Following today’s moves, the Zip share price is now trading around 39% higher so far in 2021. The BNPL operator is also currently sitting around 13% higher than this time last year.

Based on the current Zip share price, the company has a market capitalisation of around $4.1 billion.

The post The Zip (ASX:Z1P) share price is lifting by 7% today appeared first on The Motley Fool Australia.

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The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended AFTERPAY T FPO, WiseTech Global, Xero, and ZIPCOLTD FPO. The Motley Fool Australia owns shares of and has recommended AFTERPAY T FPO, WiseTech Global, and Xero. 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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Shares in Telstra Corporation Ltd (ASX: TLS) hit a new 52-week high this morning. The Telstra share price’s highest point of the last 12 months is now $3.59.

That’s just one cent more than the previous 52-week high it reached on Monday.

At the time of writing, the Telstra share price is $3.60, 0.7% higher than its closing price yesterday.

Let’s take a look at what the telecommunication company has been up to lately.

What’s Telstra been up to?

Telstra’s new 12-month high comes despite the company releasing no news to the ASX since late April. It has recently faced a series of fines – although, they don’t seem to have dinted its share price.

On 4 May, Telstra was slapped with a $1.5 million fine for breaching customer rights. The Australian Communications and Media Authority (ACMA) issued the fine after Telstra stopped customers from swapping their landlines to other carriers between March and June of 2020.

When COVID-19 first struck the world, Telstra blocked its porting facilities and shut down its overseas service centres ­– disallowing 42,000 of its customers from swapping providers.

On 10 May, Telstra shared some good news. It advised the public it was on track to cover 75% of Australians with its 5G network by June.

Then, on 11 May, Telstra was dealt a $50 million penalty from the Federal Court for its treatment of Indigenous customers in rural and remote parts of Australia.

The Federal Court found Telstra had signed 108 customers to phone plans knowing they didn’t understand and couldn’t afford what they were paying for.

When those who were dubiously signed to Telstra plans were unable to pay, Telstra engaged in aggravated debt recovery practices.

Telstra share price snapshot

Despite the drama, 2021 on the ASX has been good to the Telstra share price.

Currently, shares in Telstra have gained 18.44% since the start of the year. They are also 10.71% higher than they were this time last year.

The company has a market capitalisation of around $42 billion, with approximately 11 billion shares outstanding.

The post The Telstra (ASX:TLS) share price hit a new 52-week high today appeared first on The Motley Fool Australia.

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Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Telstra 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 Centuria Industrial REIT (ASX: CIP) share price is edging higher today. This comes after the industrial real estate investment trust (REIT) announced a number of acquisitions.

At the time of writing, Centuria shares are up 0.54% to $3.74.

What did Centuria buy?

In today’s statement, Centuria has secured 3 industrial properties worth a total of $86.1 million. The acquisitions give the REIT an average yield of 5% and a weighted average lease expiry (WALE) of 5 years.

Following settlement, the Centuria portfolio will increase to 66 properties and have a value of more than $3 billion.

Two of the assets acquired are in the northern Melbourne suburbs of Broadmeadows and Epping. The Broadmeadows property is a manufacturing facility leased to Rollease Acmeda, a manufacturer and distributor of window coverings systems. The Epping asset is a distribution centre housing 2 tenants, Grace Australia and Gruma Oceania.

The third property is situated in Wetherill Park, New South Wales, and is also a tenanted distribution centre.

The transaction is expected to be funded through use of the REIT’s existing debt facilities.

Management commentary

Centuria fund manager Jesse Curtis said of the acquisitions:

The three assets were secured off-market and continue to grow CIP’s exposure to the highly sought-after and tightly held infill industrial markets of Melbourne and Sydney. The portfolio provides a rare mixture of short WALE assets, providing the opportunity to add value and take advantage of low vacancy rates through strategic leasing, while also adding a core long WALE asset.

… CIP’s strategy is to secure high-quality industrial assets within key metropolitan locations and this portfolio transaction is in keeping with this direction. These acquisitions continue to build our strong track record of identifying value and providing value-add opportunities through repositioning and active leasing to deliver reliable income returns and capital growth to our unitholders.

Centuria share price summary

It’s been a positive 12 months for Centuria shareholders, with the REIT shares lifting 25%. It’s worth noting Centuria is closing on its all-time high of $3.83 achieved earlier this month.

Based on today’s price, Centuria has a market capitalisation of $2 billion, and has just over 551 million shares outstanding.

The post Why the Centuria (ASX:CIP) share price is on the move today appeared first on The Motley Fool Australia.

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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 Aeris Resources Ltd (ASX: AIS) share price has come out of a trading halt, putting itself in fine form today. This follows the copper and gold miner’s update on its recent capital raising efforts.

At the time of writing, Aeris Resources shares are travelling 7.32% higher to a multi-year high of 22 cents.

What did Aeris Resources announce?

According to its release, Aeris Resources announced it has successfully completed an institutional placement to raise approximately $50.4 million. The offer received strong support from both new and existing institutional and sophisticated investors.

The placement will see around 287.9 million new ordinary shares issued at a price of 17.5 cents apiece. This represents a discount of 14.6% on the last closing share price of 20.5 cents on 9 June 2021.

Aeris Resources will use its existing placement capacity to create the new shares. Under listing rule 7.1, this allows up to an additional 15% of its total shares to be issued without shareholder approval.

The proceeds of the placement will be used to accelerate the company’s exploration activities at its Tritton and Cracow operations. This includes expanding its current exploration drilling program and covering general working capital expenses.

Aeris executive chair, Andre Labuschagne commented:

This is an exceptional outcome for Aeris and its shareholders and provides the balance sheet strength to accelerate exploration at both our operations in FY22, while progressing in parallel, life extension projects at Tritton.

In FY22 we will continue development of the Budgerygar underground mine. We are also finalising plans to commence development of Avoca Tank (underground) and a cut-back of the open pit at Murrawombie.

The strong institutional support for the Placement I believe is a reflection of not only the transformation of the Company over the last 12 months but also an endorsement of our strategy focusing on copper and gold and adding value through organic and acquired growth.

Aeris Resources share price summary

Investors have rallied in joy with Aeris Resources shares climbing to an astonishing 500% in the last 12 months. The company’s share price reached a multi-year high of 22 cents today on the back of its strong gains over the past 30 days.

Aeris Resources commands a market capitalisation of roughly $422 million, with more than 1.9 billion shares outstanding.

The post Aeris Resources (ASX:AIS) share price races 7% higher to multi-year high appeared first on The Motley Fool Australia.

More reading

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

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