Category: Stock Market

Last week, we covered several ASX exchange-traded funds (ETFs) that had just hit fresh new all-time highs. Well, ETFs are back at it again today, with another round of record-breaking gains.

The four ETFs we covered last week were as follows:

• iShares S&P 500 ETF (ASX: IVV)
• Vanguard US Total Market Shares Index ETF (ASX: VTS)
• VanEck Morningstar Wide Moat ETF (ASX: MOAT)
• BetaShares Crypto Innovators ETF (ASX: CRYP)

This Tuesday, two of those four ETFs have clocked even higher record highs. Those are the VanEck Wide Moat ETF, which hit $127.42 this afternoon. As well as the iShares S&P 500 ETF, which reached up to $52.59 a unit soon after.

These two funds have also been joined in the ‘all-time high club’ today by:

• VanEck Gold Bullion ETF (ASX: NUGG) at a new high of $32.41 per unit
• Global X Seminconductor ETF (ASX: SEMI) at $17.18
• BetaShares Global Robotics and Artificial Intelligence ETF (ASX: RBTZ) at $14.90
• iShares Global Healthcare ETF (ASX: IXJ) at $140.60
• iShares MSCI Japan ETF (ASX: IJP) at $108.25
• Vanguard MSCI Index International Shares ETF (ASX: VGS) at $122.88
• VanEck MSCI International Quality ETF (ASX: QUAL) at $54.42

Plus many others.

Are these record-high ASX ETFs still a buy?

ETF investors who have money ready to plough into the share market might be feeling some apprehension at investing in any of these funds at new record highs today. And understandably so. After all, we’re often told that successful investing involves ‘buying low, selling high’, not the other way around.

So how does an investor handle this prickly problem?

Well, I think it depends on the ETF in question. For funds that track a commodity or a cyclical sector (for example, NUGG or perhaps SEMI), buying at new record highs might not be a prudent move.

Looking at the gold price, for instance, over long periods of time will tell you that new highs are often followed by periods of weakness.

If you want exposure to something like gold in your portfolio, I think it’s best to load up when other investors are sending the price down, rather than up.

But what about other ETFs?

Time in the market or timing the market?

I don’t think investors who want to buy into a fund like the VanEck Wide Moat ETF, the Vanguard International Shares ETF or the iShares Japan ETF should be dissuaded from investing today based on these record highs.

These ETFs are designed to enable investment into compounding assets that should, reasonably consistently, increase in value over time. Whether they do or not is a different matter.

But in an ideal world, an investor wants to see as many new record highs as possible from an ETF of this nature. So avoiding one of these funds because it is at a record high might mean you miss out on the next one.

But you won’t even have to worry about these sorts of issues if you use a dollar-cost averaging strategy.

I think this is the best way for most investors to invest in ASX ETFs. It involves buying a fund that you like consistently, regardless of what its unit price is doing.

That way, you can take the stress out of buying at moments like this, safe in the knowledge that you’ve bought for better prices in the past, but still might benefit from future highs.

The post Are these record-breaking ASX ETFs now too expensive to buy? appeared first on The Motley Fool Australia.

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More reading

• Why Vanguard MSCI Index International Shares ETF (VGS) is a great buy for almost anyone
• 3 excellent ASX ETFs to buy in March
• 4 hot ASX ETFs smashing all-time highs on Thursday
• How to build a second retirement fund outside of superannuation
• Should I buy the iShares S&P 500 ETF (IVV) at all-time highs or wait?

Motley Fool contributor Sebastian Bowen has positions in VanEck Morningstar Wide Moat ETF. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Betashares Crypto Innovators ETF and iShares S&P 500 ETF. The Motley Fool Australia has recommended VanEck Morningstar Wide Moat ETF, Vanguard Msci Index International Shares ETF, and iShares S&P 500 ETF. 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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Goodman Group (ASX: GMG) is an ASX stalwart stock that has delivered impressive growth and continues to have a strong outlook.

In the past year, the Goodman share price has risen 59% and it has risen over 130% in the last five years.

It describes itself as a global industrial property and digital infrastructure specialist group with operations across Australia, New Zealand, Asia, Europe, the UK, and the Americas. The business owns, develops and manages “high-quality sustainable properties” that are close to consumers in key cities around the world.

The property portfolio includes logistics and distribution centres, warehouses, light industrial, multi-storey industrial, business parks and data centres. It recently reported its FY24 half-year result, which I thought was impressive.

Continuing performance

The ASX stalwart stock is expecting to achieve FY24 full-year operating earnings per security (EPS) growth of 11%.

Businesses around the world need more, and increasingly advanced, logistics properties to fulfil their distribution network needs. Goodman owns some of the most impressive warehouses in Australia. Amazon is by far its biggest tenant by rental income.

The business has low gearing, of 9%. I think this puts it in a strong position in this high interest rate environment. Some property businesses have much higher debt levels, which is increasing their interest expenditure.

Its portfolio occupancy remains high at 98.4%, with like-for-like net property income (NPI) growth of 5%.

Strong outlook

Goodman said at its FY24 first-half result that significant progress has been made on advancing its data centre strategy, securing power and planning, commencing infrastructure and continuing to work with customers.

The business is “well-positioned to capture strong demand for new, high-value, high-tier data centre facilities in supply-constrained locations.” Data centres are expected to be a key area of growth for the group.

Data centres have “attractive development margins on existing and new projects”. Data centres under construction currently represent just over a third of the ASX stalwart stock’s WIP.

It has total WIP of $12.9 billion, which covers 85 projects in 12 countries. The development yield on cost is 6.7% for projects in WIP. The weighted average lease expiry (WALE) is 13.6 years for the projects in WIP.

All of these completed projects will contribute significantly to Goodman’s rental profits and operating EPS.

We can’t control what the Goodman share price will do, but it’s regularly reporting operating EPS growth of around 10% each year. Supply constraints in its locations are expected to continue to drive rental growth and maintain high occupancy rates across the portfolio.

It’s not cheap, but I think it’s one of the highest-quality ASX shares around. That’s why I’d called it an ASX stalwart stock.

The post If you don’t own this ASX stalwart stock, you’re missing some serious stability appeared first on The Motley Fool Australia.

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More reading

• 2 no-brainer ASX ‘beginner’ stocks I’d buy
• For $1,500 in monthly passive income, buy 1,400 shares of this ASX 200 stock
• Here are the top 10 ASX 200 shares today
• 2 ASX 200 real estate shares leaping higher on earnings news
• Why Altium, Goodman, Magellan, and Wesfarmers shares are storming higher today

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. has positions in and has recommended Goodman Group. The Motley Fool Australia has recommended Goodman Group. 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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S&P/ASX 200 Index (ASX: XJO) energy shares are losing ground today.

Here’s how these top three ASX 200 energy stocks are performing in afternoon trade on Tuesday:

• Woodside Energy Group Ltd (ASX: WDS) shares are down 0.6%
• Santos Ltd (ASX: STO) shares are down 0.6%
• Beach Energy Ltd (ASX: BPT) shares are down 1.5%

For some context, the ASX 200 is down 0.1% at this same time.

ASX 200 energy shares have faced headwinds since oil and gas prices began to retrace at the end of September.

On 27 September, Brent crude oil was trading for US$97 per barrel. By 2 January the price of that same barrel had dropped to US$76.

While the oil price as ticked up from there, currently trading for US$82.69 per barrel, Brent slipped about 0.1% overnight, potentially pressuring the big Aussie oil and gas stocks today.

But there are some potential tailwinds brewing that could yet mean there’s a turnaround in their fortunes in 2024.

Tailwinds brewing for ASX 200 energy shares

The first tailwind that could help boost oil prices, and by connection ASX 200 energy shares, is the latest production announcement from the Organization of the Petroleum Exporting Countries and its allies (OPEC+).

This week OPEC+ announced it would extend the existing voluntary agreement to reduce the cartel’s combined output by some two million barrels per day. The new agreement runs through the end of June.

As the move was widely expected and priced into markets already, oil price reactions were subdued.

But with global oil demand expected to modestly increase in 2024, the ongoing production cuts could lead to higher oil prices in the second half of 2024 if stockpiles get drawn down.

With the United States economy continuing on its growth trajectory, the US Energy Information Administration (EIA) forecasts that demand in the world’s top economy will increase in 2024, to 20.39 million barrels per day, up from 2023’s 20.23 million barrels per day.

On a global level, Goldman Sachs is forecasting a demand increase of around 1.5% for 2024.

While that’s not a huge increase, with the ongoing OPEC+ production cuts I believe we could see crude oil head back towards US$90 per barrel in the second half of the year, boosting revenues for ASX 200 energy shares.

An additional upside risk for global oil prices, one that no one wishes to see eventuate, is any major escalation in the Red Sea conflict. Should those shipping corridors get shut down, oil prices could easily surpass US$100 per barrel.

As for natural gas, which makes up a large part of the revenues earned by ASX 200 energy shares like Woodside, Santos and Beach, the EIA reported, “We expect the US benchmark Henry Hub natural gas spot price to average higher in 2024 and 2025 than in 2023.”

The post How these tailwinds could re-energise ASX 200 energy shares in 2024 appeared first on The Motley Fool Australia.

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More reading

• Investing in an ASX share portfolio for lifelong passive income!
• 5 things to watch on the ASX 200 on Tuesday
• 5 things to watch on the ASX 200 on Monday
• Buy Telstra and these ASX dividend shares next week
• How are these passive income investors still earning a 14% dividend yield on Woodside shares?

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 positions in and has recommended Goldman Sachs Group. 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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If you’re wanting a combination of big returns and a decent dividend yield, then Domino’s Pizza Enterprises Ltd (ASX: DMP) shares could be the way to do it.

That’s the view of analysts at Morgan Stanley, which believe the pizza chain operator’s shares are great value at current levels.

What is the broker saying about Domino’s shares?

According to a recent note out of the investment bank, its analysts have an outperform rating and $68.00 price target on its shares.

Based on its current share price of $45.20, this implies potential upside of 50% for investors over the next 12 months.

To put that into context, if Morgan Stanley is on the money with its recommendation, a $10,000 investment would be worth $15,000 by this time next year.

Why is it bullish?

The broker believes that the market is too negative on the company’s margin outlook. It highlights that the consensus view is that its margins are now structurally lower compared to pre-COVID levels.

However, it sees scope for margins to recover from improved store profitability, lower food costs, and restructuring benefits. In respect to food costs, it estimates that inflationary pressures on these costs have wiped off 2% from its margins.

All in all, the broker believes that “FY24 will be an inflection point for key share price drivers.”

Dividends

But the returns won’t stop at share price gains, Domino’s is a consistent dividend payer.

Morgan Stanley is expecting a $1.21 per share dividend in FY 2024, which represents an attractive 2.7% dividend yield. This would mean dividends of $270 from a $10,000 investment.

And if you’re willing to hold on, you can expect an even better yield next year according to Morgan Stanley. It has pencilled in dividends per share of $1.82 in FY 2025, which would mean a 4% dividend yield for investors.

The post Buy Domino’s shares for a 50% return and attractive dividend yield appeared first on The Motley Fool Australia.

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More reading

• These ASX 200 shares could rise 20% to 50%
• This ASX growth stock is down 25%: Buy, sell, or hold?
• Down 27% in 2024, this leading fund manager forecasts a big turnaround for Domino’s shares
• 25 ASX 200 shares with ex-dividend dates next week
• Here’s how these 3 ASX 200 shares just earned substantial broker upgrades

Motley Fool contributor James Mickleboro has positions in Domino’s Pizza Enterprises. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Domino’s Pizza Enterprises. The Motley Fool Australia has recommended Domino’s Pizza Enterprises. 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 Fortescue Ltd (ASX: FMG) dividend declared this earnings season was by far the most impressive of the three major ASX 200 mining shares.

The interim Fortescue dividend for 1H FY24 is a fully franked $1.08 per share, which is 44% higher than the interim dividend of FY23.

That’s some significantly turbocharged passive income, and it also represents one of the biggest dividend boosts of all the ASX 200 shares this earnings season.

Based on the current Fortescue share price of $25.91, the interim dividend yield is 4.17%. That’s higher than the 4% average that most ASX 200 stocks pay over an entire 12-month period.

By comparison, Rio Tinto Ltd (ASX: RIO) announced a fully franked final dividend of US$2.58 per share for 2H FY23, which is up 14%. That’s $3.97 in Australian currency at the time of writing.

Based on the current Rio Tinto share price of $124.96, that’s a yield of 3.18%.

BHP Group Ltd (ASX: BHP) cut its interim dividend by 20%. The ‘Big Australian’ will pay a fully franked interim dividend of 72 US cents per share for 1H FY24, or $1.11 in Aussie terms.

Based on the current BHP share price of $44.81, that’s a yield of 2.48%.

Why did Fortescue pay more?

One reason is that Fortescue’s earnings were superior, in terms of growth, to BHP and Rio Tinto.

This was partly because Fortescue is an iron ore pure-play stock. Therefore, it benefitted more from the strong iron ore price.

By comparison, BHP and Rio are diversified miners. Weaker commodity prices for the other metals and minerals they dig up impacted their earnings.

What’s next for the Fortescue dividend?

Of course, Fortescue and the other two major ASX 200 miners will pay another dividend later in the year.

The consensus forecast published on CommSec today is for Fortescue to pay a final dividend of $1.09 for 2H FY24.

That will mean a total full-year dividend of $2.17 per share and a total yield of 8.37%.

Analysts predict a significant dividend drop in 2025 and 2026

The Fortescue dividend forecast for 2025 is much lower at $1.495 per share.

For investors buying Fortescue shares at today’s price of $25.91, the 2025 forecast dividend represents a yield of 5.77%.

For 2026, the forecast Fortescue dividend is $1.03 per share, equating to a yield of 3.97%.

The post Here’s the Fortescue dividend forecast through to 2026 appeared first on The Motley Fool Australia.

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More reading

• Investing in an ASX share portfolio for lifelong passive income!
• Insiders have been buying these ASX 200 mining shares
• Passive income watch: The ASX stocks dishing out the biggest dividend boosts this earnings season
• A 22% yield on Fortescue shares? Here’s how these passive income investors achieved it!
• Why Flight Centre, Fortescue, Kelsian, and Neuren shares are dropping today

Motley Fool contributor Bronwyn Allen has positions in BHP 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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After a very strong year-long run, ASX uranium shares have come under selling pressure over the past month.

Amid some likely profit-taking and investor concerns that the rally may have gotten ahead of itself, here’s how these leading uranium stocks have performed since this time last month:

• Paladin Energy Ltd (ASX: PDN) shares are down 12.3%
• Bannerman Energy Ltd (ASX: BMN) shares are down 17.5%
• Deep Yellow Limited (ASX: DYL) shares are down 19.4%
• Boss Energy Ltd (ASX: BOE) shares are down 20.7%
• Alligator Energy Ltd (ASX: AGE) shares are down 31.3%

For some context, the All Ordinaries Index (ASX: XAO) has gained 1.8% over the last month.

While these are some hefty losses for investors buying last month, long-term investors should still be sitting on some outsized gains.

Here are the returns from these same ASX uranium shares over the past 12 months:

• Paladin shares are up 67.6%
• Bannerman shares are up 69.3%
• Deep Yellow shares are up 91.2%
• Boss Energy shares are up 89.6%
• Alligator Energy shares are up 37.5%

The All Ords is up 6.1% over this time period.

With these moves in mind, what might the nuclear energy push from opposition leader Peter Dutton mean for Aussie uranium stocks over the longer term?

ASX uranium shares slip despite Dutton’s nuclear proposal

In a proposal that’s firing up some heated debate, Dutton is backing nuclear energy to provide reliable baseload power to support wind and solar as Australia transitions from coal and gas-fired plants.

The Liberal Party’s policy was reported to likely include not only smaller modular type nuclear plants but also larger capacity next generation reactors.

“As we go from coal to a new system, we need to make sure that we can firm up the renewables that are in the system,” Dutton said (quoted by The Northwest Star).

Now even if Australia opts to eventually embrace nuclear power, ASX uranium shares are unlikely to see any domestic demand for their product for many years yet.

But if Dutton’s proposals are eventually enacted, Australia will join a growing list of major economies that are embracing nuclear energy to reduce emissions while keeping the lights on.

At December’s United Nations Climate Change Conference (COP28) 22 nations, including the United States, Japan and France, pledged to triple their nuclear power capacity by 2050. And the world’s two most populous nations, India and China, are leading the world in the construction of new nuclear power plants.

“Some of the smartest minds in the world have picked up what is a revolution within energy,” Dutton said earlier today in his push for Australia to do the same.

Whether it makes economic sense for Australia to do so remains to be seen.

But over the longer-term ASX uranium shares should continue to see growing demand for the nuclear fuel they dig from the ground.

According to the International Energy Agency (IEA), the world will need to double its nuclear capacity by 2050 to meet the current climate goals.

The post What Dutton’s nuclear push could mean for ASX uranium shares appeared first on The Motley Fool Australia.

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• These are the 10 most shorted ASX shares
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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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Motley Fool Australia Chief Investment Officer Scott Phillips joined Natalia Cooper for Nine’s Late News on Monday night to discuss falling building approvals and the challenges facing the economy as businesses destock, putting pressure on GDP growth.  

The post Building approvals down, and economic growth at risk: Scott Phillips on Nine’s Late News appeared first on The Motley Fool Australia.

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Motley Fool contributor Scott Phillips 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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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) has recovered from a poor start and is in positive territory. At the time of writing, the benchmark index is up 0.1% to 7,741 points.

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

Coles Group Ltd (ASX: COL)

The Coles share price is down 3.5% to $16.43. This has been driven by the supermarket giant’s shares going ex-dividend on Tuesday. Eligible shareholders can now look forward to receiving Coles’ fully franked interim dividend of 36 cents per share later this month. It is scheduled to be paid on 27 March.

Liontown Resources Ltd (ASX: LTR)

The Liontown share price is down 4% to $1.27. This is despite there being no news out of the lithium developer today. However, it is worth noting that most lithium shares are falling on Tuesday. This could be due to profit taking after some strong gains or concerns over an update from Tesla Inc. (NASDAQ: TSLA), which revealed a slump in car shipments.

Lovisa Holdings Ltd (ASX: LOV)

The Lovisa share price is down 4% to $30.32. Like Coles, this has been driven by its shares going ex-dividend this morning. Eligible shareholders will be paid the fashion jewellery retailer’s 50 cents per share interim dividend next month on 18 April. In addition, with its shares generating big returns recently, it’s possible that some profit taking is taking place now the dividend rights are settled.

Wildcat Resources Ltd (ASX: WC8)

The Wildcat share price is down over 12% to 68 cents. This follows the release of drilling results from the lithium explorer’s Tabba Tabba project. Investors appear to be a touch disappointed with the low grade results.

The post Why Coles, Liontown, Lovisa, and Wildcat shares are dropping today appeared first on The Motley Fool Australia.

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More reading

• Why are ASX lithium shares like Pilbara Minerals crashing on Tuesday?
• Key takeouts for ASX shares this earnings season: CBA analysis
• How is the Coles share price down 3% today?
• Why is the Lovisa share price sinking today?
• Why did the Tesla share price just tumble 7%?

Motley Fool contributor James Mickleboro has positions in Lovisa. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Lovisa and Tesla. The Motley Fool Australia has positions in and has recommended Coles Group. The Motley Fool Australia has recommended Lovisa. 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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Commonwealth Bank of Australia (ASX: CBA) shares closed yesterday at a new all-time high of $118.12.

In early afternoon trade on Tuesday, shares in the S&P/ASX 200 Index (ASX: XJO) bank stock have slipped a touch from those levels, trading for $118.10 apiece.

Despite numerous analysts cautioning that the biggest of Australia’s banks trades at an unjustifiable premium to its peers, investors have continued to hit the buy button since CommBank reported its half-year results on 14 February.

The highlight of those results for passive income investors was the 2.4% year on year boost to CBA’s interim dividend. That came out at $2.15 per share, fully franked. Eligible investors can expect to see this hit their bank account on 28 March.

Atop the boosted interim dividend, CBA’s final dividend of $2.40 per share (paid on 28 September), was up 14.3% from the prior final dividend.

With the full-year payout of $4.55 per share, CBA shares trade on a fully franked trailing yield of 3.9%.

So, how are some passive income investors earning a 7.9% yield?

Buying CBA shares when everyone is selling

Not many ASX 200 investors were buying stocks during the final weeks of the COVID-19 market meltdown in 2020. Hence the 33% plunge in the benchmark index over a matter of weeks.

Indeed, trying to time the market and buy in at the lows often sees investors sitting on the sidelines after the market has already turned around.

But passive income investors who saw through the selling madness in early 2020 and swallowed their fears to buy quality, beaten-down stocks at absolute bargain levels tend to have been richly rewarded for their bravery.

Take CBA shares, for example.

On 27 March 2020, the ASX 200 bank stock closed the day trading for $57.66 per share.

And shares bought at that price will have earned the same $4.55 in fully franked dividends over the past 12 months as the shares bought at over $100 in 2023.

Meaning those brave investors will be earning a 7.9% yield from the CBA shares bought at bargain basement prices.

Not to mention the 105% share price gain they’ll have enjoyed since then!

The post An 8% yield on CBA shares? Here’s how these passive income investors achieved it! appeared first on The Motley Fool Australia.

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More reading

• Investing in an ASX share portfolio for lifelong passive income!
• 3 ASX 200 shares I think could grow to be bigger than BHP one day
• CBA shares rally to new record high. Is $196 billion too much for this banking giant?
• 5 ASX 200 shares that boosted their dividends this earnings season
• 3 things about CBA stock every smart investor knows

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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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is edging higher. At the time of writing, the benchmark index is up slightly to 7,740.6 points.

Four ASX shares that are rising more than most today are listed below. Here’s why they are climbing:

DroneShield Ltd (ASX: DRO)

The DroneShield share price is up 3% to 63.5 cents. This morning, analysts at Bell Potter upgraded this counter drone technology company’s shares to a buy rating with a 90 cents price target. This implies potential upside of over 40%.

Healius Ltd (ASX: HLS)

The Healius share price is up 13% to $1.27. This follows news that its CEO, Maxine Jaquet, has left the company with immediate effect. She has been replaced by the healthcare company’s chief financial officer, Paul Anderson. He will now lead a wide-ranging strategic review of its structure and assets. Healius shares are down approximately 50% over the last 12 months.

Newmont Corporation (ASX: NEM)

The Newmont share price is up 5% to $51.19. Investors have been buying Newmont and other ASX gold shares on Tuesday after the gold price hit its highest level ever. According to CNBC, the gold futures contract for April gained 1.46% or US$30.60 to settle at US$2,126.30. This is the highest level since the contract’s creation in 1974. Rate cut optimism boosted the precious metal.

Paragon Care Ltd (ASX: PGC)

The Paragon Care share price is up almost 37% to 28 cents. This follows news that the healthcare supplier has agreed to merge with CH2 Holdings. It is a privately owned, Australian based distributor and wholesaler of pharmaceuticals, medical consumables, and complementary medicines. The combined entity is expected to have pro-forma revenues of $3.3 billion and EBITDA of $93 million in FY 2024.

The post Why DroneShield, Healius, Newmont, and Paragon Care shares are pushing higher appeared first on The Motley Fool Australia.

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More reading

• Guess which ASX small cap stock is rocketing 27% on ‘transformative’ merger
• Beaten-up ASX 200 stock jumps 14% on CEO resignation
• Why this leading broker just upgraded DroneShield shares
• The gold price just reached its highest level ever: Which miners are buys?
• ASX 200 gold shares are booming on Monday. Here’s why they could keep shining bright

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 DroneShield. 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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