Category: Stock Market

A little-known ASX healthcare stock is setting the bar sky-high today.

In morning trade on Thursday, the All Ordinaries Index (ASX: XAO) is up 0.2%, while shares in this biopharmaceutical company just rocketed 96.9% to 13 cents apiece.

The ASX healthcare stock closed on Monday trading for 6.6 cents. Shares entered a trading halt on Tuesday and Wednesday ahead of today’s big United States Food and Drug Administration (FDA) announcement.

Any guesses?

If you said Immuron Ltd (ASX: IMC), give yourself a virtual gold star.

Here’s what’s got ASX investors excited today.

Why are ASX investors sending the Immuron share price soaring?

Investors are bidding up the ASX healthcare stock after the company reported it was proceeding to a Phase 3 registration strategy with the US FDA for its patented Travelan drug.

Travelan will be the first product developed with Immuron’s platform technology to proceed into Phase 3 clinical trials.

This comes after interim clinical results confirmed that a single daily dose of Travelan was effective in preventing moderate to severe diarrhea after subjects were exposed to enterotoxigenic Escherichia coli (ETEC).

The company designed the Phase 2 study to compare the preventative effects of one dose per day relative to the standard recommended three daily doses.

In January 2022, the US Department of Defense awarded the ASX healthcare stock $4.8 million to assist with evaluating a dosing regimen best suited to US troops deployed in developing countries.

The company said the latest interim analysis summarised the completed data for 60 subjects of the current clinical study. Management expects the final clinical study report will be completed in the second half of 2024.

Immuron said it is exploring non-dilutive funding opportunities for its Phase 3 clinical trial.

How has the ASX healthcare stock been tracking longer-term?

Immuron shares are often thinly traded. And they frequently see some sizeable moves higher or lower following price-sensitive news.

With today’s big intraday gains factored in, the ASX healthcare stock is up 62.5% in 12 months.

The post Guess which ASX healthcare stock is rocketing 97% on big FDA news appeared first on The Motley Fool Australia.

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More reading

• Bell Potter says these ASX 200 stocks are strong buys for March
• Zip share price up 58% in 7 trading days! What’s going on?
• CBA share price marching higher amid ‘difficult news’
• Up 90% in a year, why is this ASX 300 uranium stock suddenly halted?
• Why is the Rio Tinto share price tumbling into the red?

Motley Fool contributor Bernd Struben 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 Scott Phillips.

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The Zip Co Ltd (ASX: ZIP) share price is having another positive session.

In morning trade, the buy now pay later (BNPL) provider’s shares are up almost 8% to $1.26.

This latest gain means that Zip’s shares are now up 58% in the space of almost a week.

Why is the Zip share price taking off?

Investors have been scrambling to buy the company’s shares since the day after the release of its results last week.

As reminder, Zip reported a 28.9% increase in revenue to $430 million and group cash EBTDA of $30.8 million. The latter was up from negative $33.2 million a year earlier.

The initial market reaction to the results was poor, with the Zip share price tumbling deep into the red on the day. But from the following day, its shares have not looked back.

This may have been driven partly by a broker note out of Ord Minnett, which praised the result and labelled Zip’s shares as a buy with an improved price target of $1.08.

What about today’s gain?

Today’s gain appears to have been driven by an even more bullish broker.

According to a note out of UBS, its analysts have upgraded the company’s shares to a buy rating and lifted their price target to $1.43 from a lowly 36 cents.

Based on the current Zip share price, this implies potential upside of almost 14% for investors.

UBS has been impressed with Zip’s improving profitability and user growth in the key United States market. Particularly given that the latter has been achieved while keeping its bad debts below its target rate.

And with the broker believing that margins can improve from cost control efforts and new product launches, it is feeling very positive on the company’s outlook.

The post Zip share price up 58% in 7 trading days! What’s going on? appeared first on The Motley Fool Australia.

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• Why DroneShield, Magellan, Platinum, and Zip shares are rising today
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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 positions in and has recommended Zip Co. 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 Scott Phillips.

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The Commonwealth Bank of Australia (ASX: CBA) share price is in the green today.

Shares in the S&P/ASX 200 Index (ASX: XJO) bank stock closed yesterday trading for $118.31. In morning trade on Thursday, shares are changing hands for $118.82 apiece, up 0.43%.

For some context, the ASX 200 is up 0.22% at this same time.

This comes amid some “difficult” news from CommBank.

What’s happening with CommBank?

The CBA share price is in the green this morning after its Western Australian subsidiary, Bankwest, announced it will transition to a digital bank in 2024.

Bankwest traces its history all the way back to 1895. It was acquired by CBA 16 years ago.

The digital shakeup will see 45 Bankwest branches shuttered by October 2024. Fifteen additional regional Bankwest centres will be converted to CBA branches. Management expects that to be complete by the end of 2024.

CBA noted that 97% of all Bankwest transactions are already completed digitally. But that doesn’t mean the transition will be painless for everyone.

“I understand this will be difficult news for some of our customers,” Bankwest executive general manager Jason Chan said.

He said the bank was introducing “a range of support measures to help our customers who are regular branch users carefully through this transition”.

CBA doesn’t expect the digital transformation to result in any job losses.

According to Chan:

Our branch colleagues have invaluable knowledge and experience, and they will all be offered opportunities to access the next generation of banking jobs so they can continue to support customers nationwide from in their own communities.

CommBank is hoping the transformation will cut its overall costs. This could help support profit margins and the CBA share price amid stiff ongoing competition in the lucrative Aussie mortgage markets.

As for Bankwest, Chan said it was here to stay.

“Bankwest is now 129 years old, and we’ll continue to evolve in the years to come to ensure we remain a sustainable, growing, and successful WA-based business, and a major WA employer, in a highly competitive national banking sector,” he said.

CBA share price snapshot

The CBA share price has been a very strong performer over the past year.

Shares in the ASX 200 bank stock are up 19% over 12 months, almost four times the gains posted by the benchmark index.

The post CBA share price marching higher amid ‘difficult news’ appeared first on The Motley Fool Australia.

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Motley Fool contributor Bernd Struben 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 Scott Phillips.

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Deep Yellow Limited (ASX: DYL) shares have been exceptionally strong performers over the last 12 months.

During this time, the ASX 300 uranium stock has raced 90% higher.

To put that into context, if you had invested $20,000 a year ago, you would now have $38,000.

During this time, despite rampant media speculation, the uranium developer resisted temptation to raise funds.

Until now.

ASX 300 uranium stock to raise funds

This morning, Deep Yellow requested a trading halt. Its request states:

Deep Yellow is in the process of finalising arrangements in relation to a capital raising. Deep Yellow anticipates that the trading halt will be required until the earlier of the commencement of trading on Monday, 11 March 2024 or the release of an announcement by the Company regarding a capital raising.

What is the company raising?

As things stand, the ASX 300 uranium stock has not released to the market what it is seeking to raise or why it is raising funds.

However, the AFR is reporting that the company is seeking to raise a massive $250 million from investors. This comprises a $220 million institutional placement and a $30 million share purchase plan for retail shareholders. Though, Deep Yellow will reportedly need shareholder approval for some of its institutional placement.

According to the report, Deep Yellow is seeking to raise the funds from institutional investors at $1.225 per new share.

While this represents a modest discount of 3.5% to the prevailing share price, it is a 25% discount to where its shares were trading just a month ago. So, shareholders may be a touch disappointed with the timing.

The funds are expected to be used to support the development of Deep Yellow’s Tumas project in Namibia. The company is targeting 3.75 million pounds of annual uranium production from Tumas, putting it in a strong position to benefit from sky-high prices.

The post Up 90% in a year, why is this ASX 300 uranium stock suddenly halted? appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has 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 Scott Phillips.

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The Rio Tinto Ltd (ASX: RIO) share price is having a tough time on Thursday.

In morning trade, the mining giant’s shares are down almost 3% to $120.25.

Why is the Rio Tinto share price tumbling?

The weakness in the miner’s share price today is nothing to do with commodity prices or an operational update, nor is it due to a broker downgrade.

Instead, the Rio Tinto share price is falling today because of its dividend.

Today is the day that the company’s shares go ex-dividend. When this happens, it means that the rights to its next dividend payment have been finalised.

As a result, if you were to buy Rio Tinto shares today, you would own the shares but not receive the dividend on pay day. That dividend would instead find its way to the bank account of the seller of the shares even though they’re no longer in their portfolio.

As you would expect, investors don’t want to pay for something they won’t receive. This means that generally on ex-dividend day, a company’s share price will fall in line with the value of the dividend to reflect this.

How big is the Rio Tinto dividend?

When Rio Tinto released its full year results last month, it reported a 3% decline in revenue to US$54,041 million and a 9% fall in underlying EBITDA to US$23,892 million.

This led to the company declaring total fully franked dividends of US$4.20 per share for FY 2023, which was down 12% year on year. This comprises a US$1.62 per share interim dividend and a US$2.58 per share final dividend.

It is the latter dividend, which equates to A$3.92 per share in local currency, that the company’s shares are going ex-dividend for this morning.

Based on where the Rio Tinto share price ended yesterday’s session, this final dividend alone represents a generous 3.2% dividend yield.

Eligible shareholders can now look forward to receiving this dividend next month on 18 April.

The post Why is the Rio Tinto share price tumbling into the red? appeared first on The Motley Fool Australia.

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• Forget Westpac and buy these ASX dividend shares
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has 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 Scott Phillips.

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The Woodside Energy Group Ltd (ASX: WDS) share price is in the red on Thursday.

In early trade, the energy giant’s shares are down 3% to $29.56.

What’s going on with the Woodside share price today?

This decline has been driven by the company’s shares going ex-dividend this morning along with fellow mining giants BHP Group Ltd (ASX: BHP) and Rio Tinto Ltd (ASX: RIO).

When a company’s shares go ex-dividend, they will generally decline by the value of that dividend. That’s because the rights to the dividend are now locked in and anyone buying its shares today won’t be entitled to receive the pay out when it is made.

In the case of Woodside, it declared a 91.5 cents per share final dividend with its full year results last month.

Based on where the Woodside share price closed yesterday’s session, this equates to a very decent dividend yield of 3% for just the final dividend.

Eligible shareholders can now look forward to receiving this payment in their nominated bank accounts next month on 4 April.

Insider selling

One shareholder that won’t be receiving as many dividends as they could have is CEO, Meg O’Neill.

That’s because earlier this week, the company revealed that its leader offloaded 14,883 shares for an average of $30.09. This equates to a total consideration of almost $450,000.

To put that into context, those 14,883 shares would have generated $13,617.945 in dividends next month if O’Neill had held onto them.

Nevertheless, Woodside’s CEO is still on course to have a bumper pay day from her remaining shareholding.

With O’Neill in possession of 173,920 ordinary Woodside shares, she can look forward to a $159,136.80 dividend pay day after the Easter break.

The post What is dragging the Woodside share price lower today? appeared first on The Motley Fool Australia.

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• 5 things to watch on the ASX 200 on Thursday
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Motley Fool contributor James Mickleboro has positions in Woodside Energy Group. 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 Scott Phillips.

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The BHP Group Ltd (ASX: BHP) share price is under pressure on Thursday.

In morning trade, the mining giant’s shares are down 2% to $43.37.

Why is the BHP share price sinking?

The good news for shareholders is that today’s weakness is not due to a broker downgrade or a crashing iron ore price.

Rather, today’s decline could actually be classed as a positive for them.

That’s because the decline has been driven by the Big Australian’s shares trading ex-dividend this morning for its next dividend.

When a share goes ex-dividend, it means that the rights to the payout are now settled.

So, even if you were to buy BHP’s shares today, you wouldn’t receive this dividend on pay day. Instead, it will go into the bank account of the seller of its shares.

As a dividend forms part of the BHP share price valuation, it has fallen today to reflect this. After all, nobody wants to pay for something they won’t receive.

The BHP dividend

When BHP released its half-year results last month, it reported a 6% increase in revenue to US$27.2 billion and flat normalised earnings of US$6.6 billion.

This allowed the BHP board to declare a fully franked interim dividend of 72 US cents per share (A$1.10 per share) for the period.

With the BHP share price going ex-dividend for this today, it means that pay day is just around the corner for investors.

At present, the BHP dividend is scheduled to be paid to eligible shareholders later this month on 28 March.

Based on the BHP share price at yesterday’s close, this dividend equates to a very attractive 2.5% dividend yield.

The post Why is the BHP share price sinking today? appeared first on The Motley Fool Australia.

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• 5 things to watch on the ASX 200 on Thursday
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has 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 Scott Phillips.

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The team at Morgans has been busy picking out its best ASX 200 share ideas for March.

The first two ASX 200 shares we looked at can be found here. Read on for two more picks:

QBE Insurance Group Ltd (ASX: QBE)

Morgans thinks that QBE could be good value at current levels. Particularly given that its earnings profile looks set for major improvements thanks to rate increases and cost reductions. The broker said:

With strong rate increases still flowing through QBE’s insurance book, and further cost-out benefits to come, we expect QBE’s earnings profile to improve strongly over the next few years. The stock also has a robust balance sheet and remains relatively inexpensive overall trading on 8x FY24F PE.

Morgans has an add rating and $17.96 price target on QBE’s shares.

ResMed Inc (ASX: RMD)

Weight loss wonder drug concerns are overblown according to analysts at Morgans.

As a result, the broker believes that ResMed would be a top ASX 200 share to buy right now. Especially given its very bright long-term outlook which is being underpinned by its connected-care digital platform. It explains:

While weight loss drugs have grabbed headlines and investor attention, we see these products having little impact on the large, underserved sleep disorder breathing market, and do not view them as category killers. Although quarters are likely to remain volatile, nothing changes our view that the company remains well placed and uniquely positioned as it builds a patient-centric, connected-care digital platform that addresses the main pinch points across the healthcare value chain.

Morgans has an add rating and $32.82 price target on ResMed’s shares.

The post Morgans names more of the best ASX 200 shares to buy in March appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has positions in ResMed. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended ResMed. The Motley Fool Australia has positions in and has recommended ResMed. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

Nvidia (NASDAQ: NVDA) shares have soared more than 250% over the past year as the technology company reported triple-digit growth in earnings — and these measures reached record levels. What’s driven Nvidia’s success? The company’s dominance in the area of artificial intelligence (AI) chips.

Not only does Nvidia hold an 80% share of this rapidly growing market, but the company also offers a wide range of other products and services for companies aiming to launch AI projects. Nvidia reports earnings from these AI-related sales as part of its data center business, and in recent times, that business has been booming. In fact, this trend could signal even more gains for the high-flying stock.

As the chart below illustrates, Nvidia’s data center revenue has climbed nearly every quarter sequentially since late 2020 — and growth really took off in the fiscal year 2024. From the fourth quarter of the fiscal 2023 year to the fourth quarter of fiscal 2024, data center revenue surged more than 400% to a record level of more than $18 billion.

A leader in a growing market

This trend, along with a few other key elements, signals more gains could be on the horizon for Nvidia stock. First, Nvidia is a leader in a market some analysts expect to surpass more than $1 trillion by the end of the decade. Second, Nvidia is increasing its investments in research and development, a move that should help it stay ahead of its rivals.

Finally, Nvidia is at the start of its growth story in AI software, an area chief executive officer Jensen Huang says could represent significant potential.

So, what does this mean for investors? Nvidia’s shares trade for about 34x times forward earnings estimates, a level that seems reasonable for a leader in a high-growth market. All of this means that for investors interested in investing in potential AI winners, Nvidia could be a great choice. Even after the stock’s gains, it still may have plenty of room to run over the long term. 

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

The post This trend could signal more gains for Nvidia shares appeared first on The Motley Fool Australia.

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Adria Cimino has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Nvidia. The Motley Fool Australia has recommended Nvidia. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

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Pilbara Minerals Ltd (ASX: PLS) shares have been having a tough time over the last seven months.

During this time, the lithium miner’s shares have lost almost a quarter of their value. That’s despite a recent rebound which has seen them rally 15% since this time last month.

While this is disappointing for shareholders, it could be a buying opportunity for the rest of us.

That’s the view of analysts at Morgans, which have just added the company’s shares to its best ideas list.

Pilbara Minerals shares is a best buy

According to the note, the broker remains very positive on Pilbara Minerals despite the significant weakness in lithium prices.

It believes that the company’s strategy of growing production during this phase of the cycle is the right strategy. It commented:

We view PLS as a fundamentally strong and globally significant hard-rock lithium miner. The company has successfully executed on ramping up the expansion of Pilgangoora, while progressing plans to expand output (P680 and P1000). Supported by a strong balance sheet, with net cash at ~A$2.1bn at the end of December, PLS’ expansion plans remain uniquely undeterred by the significant weakness in lithium prices.

For PLS, the best form of defence against lithium prices is to stay on the attack, with its medium-term plans to continue expanding its production aimed primarily at building greater economies of scale and a more defensive margin.

Double-digit return expected

The note reveals that Morgans currently has an add rating and $4.50 price target on the Pilbara Minerals’ shares.

Based on its current share price of $4.09, this implies potential upside of 10% for investors over the next 12 months.

All in all, this could make it a good option for investors that are looking for quality exposure to the lithium industry right now.

The post Morgans says Pilbara Minerals shares are a best idea in March appeared first on The Motley Fool Australia.

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setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Could the big short of ASX lithium stocks be nearing its end?
• 2 ASX 200 shares I recently sold
• Why are ASX lithium shares like Pilbara Minerals crashing on Tuesday?
• Why the 2024 outlook for these rebounding ASX 200 lithium shares looks ‘better than market expectations’
• Here’s the latest lithium price forecast through to 2027

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 Scott Phillips.

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