The Yancoal Australia Ltd (ASX: YAL) share price just closed out a smashing 2024 financial year.

Shares in the All Ordinaries Index (ASX: XAO) coal stock finished off FY 2023 trading at $4.58. Shares closed on 28 June, the last trading day of FY 2024, changing hands for $6.62 apiece.

That saw the Yancoal share price up a whopping 44.5% over the 12 months.

For some context, the All Ords gained 8.3% over this same time.

And this stellar performance doesn’t even include the outsized dividends the coal miner paid out. In FY 2024 eligible investors will have received a total of 69.5 cents a share in fully franked dividends.

If we add those back in, the accumulated value of the Yancoal share price leapt 59.7% over the financial year just past.

Why did the ASX coal stock have such a strong year?

Yancoal has done a good job keeping a lid on costs while increasing production, even as it focused on its mine recovery plans.

In fact, Q2 FY 2024 saw the miner achieve its highest rate of quarterly production in three years, offering another boost to the Yancoal share price.

Over the full calendar year of 2023 (which includes H1 FY 2024), Yancoal reported $7.8 billion in revenue. Operating earnings before interest, taxes, depreciation and amortisation (EBITDA) came in at $3.5 billion. This drove an eye-catching $1.8 billion in after-tax profit.

As for Q3 FY 2024, the miner continued to generate strong cash flows. Yancoal held $1.66 billion in cash at the end of March. That was before paying out $429 million for the final dividend on 30 April.

With that picture in mind, what can investors expect from the Yancoal share price in FY 2025?

What’s ahead for the Yancoal share price in FY 2025?

Much of the performance of the Yancoal share price will be determined by the price the miner receives for its thermal and coking coal.

In 2023, the company’s realised price came out to AU$180 per tonne.

That’s roughly double the cash operating costs of $80 to $97 per tonne that Yancoal is targeting in H1 FY 2025. Cash operating costs were AU$96 per tonne in calendar year 2023.

Looking to the year ahead, back in April, CEO David Moult said:

We see Yancoal’s large-scale, low-cost coal production profile as well suited to the current coal market conditions. Having no interest-bearing loans, a large net cash position and robust operating margins provides us with the capacity to act should suitable growth opportunities arise.

The miner’s 2024 calendar year guidance is for 35 million to 39 million tonnes of attributable saleable production.

On 30 May, at the annual general meeting, the miner reported:

Output will vary quarter-to-quarter due to mine plan sequences, longwall moves and planned maintenance, and there will be a second half weighting to the production profile.

We aim to bring the cash operating costs per tonne down from the full-year 2023 level and are focused on output given the direct relationship between the volumes we produce and the per tonne cash operating costs we report.

Halfway through week two of FY 2025, the Yancoal share price stands at $7.27. That’s up 9.8% so far in the new financial year.

The post Up 45% in FY 2024, can the Yancoal share price keep burning bright in FY 2025? 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.

The S&P 500 Index (SP: .INX) and Nasdaq Composite Index (NASDAQ: .IXIC) reached new all-time highs on Wall Street last night. It should be a cause for celebration. If only the record weren’t accompanied by a more sinister number cracking into uncharted territory, too.

Warren Buffett and I both know investing is for the long term, and history has shown that more record highs follow record highs (eventually). And yet, the greatest of all time (GOAT) investor still takes heed of a market consumed by greed.

As it turns out, Warren’s own indicator of an overvalued market also reached an all-time high overnight.

Warren Buffett’s valuation ratio

Roughly 23 years ago, Warren Buffett explained what he considered to be “the best single measure” of valuations, whether overvalued or undervalued. While the world’s tenth richest person has since walked back the importance of the measure, it remains a popular tool among investors.

The metric, aptly known as the ‘Buffett Indicator’, measures the total market capitalisation of US stocks divided by the country’s gross domestic product (GDP). Essentially, it’s a ratio of the valuation investors are willing to ascribe to public companies versus the actual size of the country’s economy.

As shown in the chart above, the Warren Buffett Indicator is at a historical high of 195%. Before this rally, the previous high was 194.8%, set in November 2021. The S&P 500 began falling a month later, resulting in a 25% crash over the following nine months.

Why is it at the highest point in its history?

There is a dichotomy between the economy and the stock market, especially in the United States.

On the one hand, the United States economy is softening as interest rates eat into spending. At the same time, there’s a seemingly insatiable demand for all things artificial intelligence (AI).

As a result, stock market indices are being pushed higher by a small handful of beneficiaries of the AI appetite — Nvidia Corp (NASDAQ: NVDA), Microsoft Corp (NASDAQ: MSFT), etc. These same companies constitute a large portion of the entire US stock market, as shown above.

The narrow concentration of growth could explain the record disconnect between the overall stock market and the United States economy.

What does it mean for investors?

As a strong critic of ‘timing the market,’ Warren Buffett doesn’t dump his portfolio when the overall market looks frothy. Rather, he usually moves incoming cash from his investments in Berkshire Hathaway Inc. (NYSE: BRK) into U.S. Treasury Bills until he discovers an opportunity.

An ‘overvalued’ market hasn’t stopped the Oracle from Omaha from finding stocks to buy. Filings show Buffett bought more shares in oil and gas giant Occidental Petroleum Corp (NYSE: OXY) last month. A company whose shares are only up 1.6% year-to-date.

It shows that the ‘market’ can be ‘expensive’, but a good investor can keep hunting. Instead of falling victim to FOMO (fear of missing out), Warren Buffett is zigging when others are zagging.

The post This Warren Buffett metric is at a never-before-seen high! What does it mean? appeared first on The Motley Fool Australia.

More reading

• Up 45% in FY 2024, can the Yancoal share price keep burning bright in FY 2025?
• Have you heard of this ASX robotics stock? It’s up 75% in 3 days!
• 2 ASX All Ords shares (and one ETF) smashing new highs while the market sinks
• The AML3D share price has crashed 26% this week. Time to pounce on the ASX defence stock?
• Why Catalyst Metals, Imugene, Red 5, and Telstra shares are pushing higher 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 positions in and has recommended Microsoft and Nvidia. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Occidental Petroleum and has recommended the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool Australia has recommended Microsoft and Nvidia. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The market is having a bit of a subdued session on Wednesday, but that isn’t stopping one ASX robotics stock from storming higher again.

At the time of writing, the FBR Ltd (ASX: FBR) share price is up 19% to 5.6 cents.

This means that its shares are now up 75% since the end of last week.

What is this ASX robotics stock?

FBR, which was previously known as Fastbrick Robotics, designs, develops, and builds dynamically stabilised robots to address global needs in a safer, more efficient and more sustainable way.

It notes that these robots are designed to work outdoors using the company’s core Dynamic Stabilisation Technology (DST).

The first application of DST for FBR is the Hadrian X robot. It is a bricklaying robot that “builds structural walls faster, safer, more accurately and with less wastage than traditional manual methods.”

The company is now attempting to follow in Chris Hemsworth’s steps by cracking America.

In May, FBR revealed that a Hadrian X robot had departed the port of Fremantle, Western Australia, on a ship bound for Florida. This is to conduct FBR’s first international demonstration program

What’s the latest?

On Monday, the ASX robotics stock revealed that its Hadrian X robot has now arrived on American shores.

Once unloaded from the ship and cleared of customs, the robot will be transported to a facility in Fort Myers, Florida.

After which, it will undertake Site Acceptance Testing at the facility. This consists of a test build outdoors with the same requirements as its previously completed Factory Acceptance Testing, plus the inclusion of some bond beam blocks and an inspection from an independent structural engineer to confirm that the constructed walls of the test build are consistent with the design and meet applicable building standards.

Completion of the Site Acceptance Testing will trigger a US$600,000 payment by CRH Ventures to FBR. It will also trigger the commencement of the Demonstration Program.

Demonstration Program

This Demonstration Program requires FBR to construct the external walls of between five and ten single-storey houses utilising Hadrian X.

If that is successful, it could be good news for the ASX robotics stock. The company has an agreement in place with CRH Ventures

It has granted CRH Ventures an exclusive option to trigger the commencement of a joint venture for the supply of Wall as a Service using Hadrian X construction robots in the United States. After which, the joint venture will issue a binding but conditional purchase order for 20 Hadrian X units at US$2 million each plus applicable sales tax. It then has a pathway in place to take the total to 300 units eventually.

But there’s a lot of work to be done until that happens. So, investors may want to be patient and wait for further news before considering an investment in this speculative stock.

The post Have you heard of this ASX robotics stock? It’s up 75% in 3 days! appeared first on The Motley Fool Australia.

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• Why Catalyst Metals, Imugene, Red 5, and Telstra shares are pushing higher 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 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.

It’s been a fairly horrible day for the All Ordinaries Index (ASX: XAO) and most ASX All Ords shares so far this Wednesday. At the time of writing, the All Ordinaries has lost a hefty 0.34% of its value, and is back down to around 8,050 points.

However, despite the broader market’s bad mood today, a few ASX All Ords shares are still breaking away to record gains.

In fact, three have just smashed new 52-week highs. Well, two All Ords shares and one exchange-traded fund (ETF). Let’s check them out.

2 ASX All Ords shares (and one ETF) clocking new highs this Wednesday

Steadfast Group Ltd (ASX: SDF)

First up, we have insurance stock Steadfast. Steadfast shares have gained a healthy 1.91% so far today and are up to $6.41 a share at the time of writing. Not only is that a new 52-week high for this insurance stock, but a new all-time record high. And there’s still plenty of time left today for the price to go even higher.

This push is just the latest uptick for Steadfast, which has been on a tear for a few weeks now. Back on 21 June, the company gave investors an update regarding its expectations for the 2024 financial year. Steadfast upgraded its guidance for the 23 months ended 30 June 2024.

It previously told ASX All Ords investors to expect an underlying net profit after tax of between $290 million and $300 million. But last month, it increased this expected range to between $298 million and $303 million.

Investors have been flocking to Steadfast shares ever since, with the company now up a healthy 16.7% over the past month.

Emeco Holdings Ltd (ASX: EHL)

Next up, we have mining equipment company Emeco. Emeco shares are currently flat at 79 cents apiece. However, earlier today, they rose to 80 cents, a new 52-week high for this ASX All Ords stock.

Again, there hasn’t been any fresh news out of Emeco this Wednesday. In fact, we haven’t heard from this company with any price-sensitive news for a while now. But Emeco has been rising steadily ever since its last earnings report back in February.

Back then, this ASX All Ords stock reported a 21% rise in operating earnings before interest, tax, depreciation and amortisation (EBITDA) for the six months to 31 December to $137 million. Operating net profits after tax also rose by 69% over the prior corresponding period to $51 million.

Emeco shares have risen 19.7% over the past six months, so today’s new 52-week high may be a byproduct of this increased optimism.

iShares Asia 50 ETF (ASX: IAA)

Finally, let’s talk about the Shares Asia 50 ETF. IAA units are currently enjoying a 0.23% lift to $103.82 each. That comes after this ASX All Ords ETF clocked a new 52-week high of $105 soon after the market opened this morning.

This ASX ETF holds a portfolio of underlying shares representing 50 of the largest companies listed on Asian markets, including China, Taiwan, South Korea, and Singapore. Its holdings include Taiwan Semiconductor Manufacturing Company, Samsung, and Tencent.

When an ETF rises in value, it’s normally due to the share prices of its underlying holdings appreciating. Indeed, we see that many of its top holdings have had a stellar month. Taiwan Semiconductor shares alone have gained more than 17% over the past month. Samsung has also done well, up 15.5% since this time last month.

So, it’s no surprise that this ASX All Ords ETF is also succeeding.

The post 2 ASX All Ords shares (and one ETF) smashing new highs while the market sinks 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 positions in and has recommended Taiwan Semiconductor Manufacturing and Tencent. The Motley Fool Australia has positions in and has recommended Steadfast Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The AML3D Ltd (ASX: AL3) share price has been on quite a rollercoaster over the past six trading days.

And that’s no hyperbole.

Here’s how the AML3D share price has moved as of last Wednesday:

• On 3 July shares closed up 37.8%
• On 4 July shares closed up 25.9%
• On 5 July shares closed up 26.5%
• On 8 July shares closed down 14.0%
• On 9 July shares closed down 21.6%

As for today, shares in the ASX defence stock are once more tearing higher, up 17.2% at 17 cents apiece.

Now that sees the stock up 234% over 12 months.

But it still leaves the AML3D share price down 26.1% since Monday’s open.

Time to pounce?

What’s been lifting the AML3D share price?

If you’re not familiar with the company, the ASX microcap stock is engaged in the design and construction of 3D parts using metal additive manufacturing technology, with a focus on the defence industry.

And the AML3D share price has been enjoying a strong run following a series of new contracts.

Back on 16 August, the company signed a contract valued at more than $2 million with BlueForge Alliance to develop and metal 3D print a replacement component used in United States Navy submarines.

And the new contract announcements have continued apace.

On 1 May, the company reported inking a $350,000 deal with the Australian government for a six-part nozzle assembly in an aerospace defence project.

On 20 May, AML3D announced another deal linked to the US Navy involving the lease of two more of its ARCEMY metal 3D printing systems with option to purchase. That deal has an initial value of $700,000. The AML3D share price closed up 17.9% on the day of the announcement.

Commenting on that deal at the time, AML3D CEO Sean Ebert said it “illustrates how important our advanced manufacturing technology is to the US Defence sector”.

He added:

AML3D ARCEMY systems can produce higher quality components, faster and with less waste than traditional manufacturing which is driving demand from the US Navy and the wider US Navy submarine industrial base supply chain.

Price query

Today the company responded to a 5 July price query from the ASX regarding the soaring AML3D share price and surge in trading volume last week.

The ASX had questions about AML3D’s announcement on 2 July when the company reported on a new $1.1 million sale of its ARCEMY system to US Navy supplies Laser Welding Solutions.

AML3D replied to the ASX query about the announcement, stating:

Not only was the ARCEMY System sale a material sale for the company, but the election to purchase the previously leased system was directly related to previous announcements on 20 September 2023 and 20 May 2024.

Is the AML3D share price good value now?

The past few days of selling were likely driven by some healthy profit-taking after the huge run higher in the AML3D share price.

Today, it appears that speculative bargain hunters are back in the game, driving shares higher once more.

With the share price still down 26% since Monday’s open, it’s quite possible investor enthusiasm could send it back to Monday’s levels, or higher, in the days ahead. Though that’s far from guaranteed.

Longer term, the global defence sector is expected to continue growing strongly amid ongoing and rising tensions around the world.

If AML3D can continue to secure a foothold in that multi-billion-dollar industry with additional and continuing defence contracts, I expect shareholders to be amply rewarded.

The post The AML3D share price has crashed 26% this week. Time to pounce on the ASX defence stock? appeared first on The Motley Fool Australia.

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• Move over DroneShield: This ASX defence stock is up 67% in a month!

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.

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a small decline. At the time of writing, the benchmark index is down 0.2% to 7,811.7 points.

Four ASX shares that are not letting that hold them back today are listed below. Here’s why they are rising:

Catalyst Metals Ltd (ASX: CYL)

The Catalyst Metals share price is up 13% to $1.29. This morning, this gold miner released an production update. According to the release, Catalyst Metals achieved annual group production of 110,000 ounces for FY 2024. This group gold production includes the first 12 months of Plutonic production under Catalyst’s ownership following the consolidation of the Plutonic Gold Belt on 1 July 2023. The Plutonic operation produced 85,000 ounces for FY 2024, which is up from 60,000 ounces in FY 2023. This represents a 41% increase with only an $11 million increase in costs. Its CEO, James Champion de Crespigny, commented: “Now, with Plutonic stabilising, we are able to focus on developing Trident and Plutonic East which will see our production grow to over 150koz.”

Imugene Ltd (ASX: IMU)

The Imugene share price is up 6% to 5.4 cents. This has been driven by news that the clinical stage immune-oncology company has dosed its first patient in its trial for bile tract cancer patients. Imugene’s trial is an expansion of its MAST Phase 1 trial. It was undertaken after early responses were observed in gastrointestinal cancers, and particularly bile tract cancers. The trial is testing Imugene’s cancer-killing virus CF33 (Vaxinia). The company’s CEO, Leslie Chong, said: “Given the results we’ve seen to date we are eager to see the potential of VAXINIA in bile tract cancer.”

RED 5 Limited (ASX: RED)

The Red 5 share price is up 2% to 40.8 cents. Investors have been buying this gold miner’s shares this week after it entered into a restructured hedge facility and security package, repaid all outstanding loans, and restructured the hedging from the legacy Silver Lake Resources Limited (ASX: SLR) common terms deed. It also revealed that preliminary group sales for the fourth quarter were 110,818 ounces of gold, bringing its full year sales to 455,259 ounces of gold.

Telstra Group Ltd (ASX: TLS)

The Telstra Group share price is up 2.5% to $3.82. Investors have been buying the telco giant’s shares this week after it announced an increase to its mobile prices. This will see prices on most of its mobile plans increase by between $2 to $4 per month. Goldman Sachs was pleased with the news and believes it demonstrates that the mobile market remains rational. In addition, it boosted its earnings and dividend estimates to reflect the changes. This ultimately led to the broker retaining its buy rating and lifting its price target to $4.30.

The post Why Catalyst Metals, Imugene, Red 5, and Telstra shares are pushing higher 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 positions in and has recommended Goldman Sachs Group. The Motley Fool Australia has positions in and has recommended Telstra Group. 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.

Nvidia has been on an impressive tear lately, but many investors are concerned about the longevity of Nvidia’s current position. It’s known to be a cyclical company, so a demand reduction in its GPUs (graphics processing units) is coming, although no one knows when.

With Nvidia trading on much of its future prospects, there isn’t much room for error. However, there are two companies that aren’t as high-flying as Nvidia and could be worth more than it five years from now.

The two companies? Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) and Amazon (NASDAQ: AMZN), which are the fourth- and fifth-largest companies in the world, respectively.

Alphabet

When discussing which company is larger, I’m talking about market capitalization. Market cap is how much a company is worth and can be calculated by multiplying the shares outstanding by the stock price. Nvidia currently holds around a $3 trillion market cap, while Alphabet and Amazon are valued at around $2.3 trillion and $2.1 trillion, respectively. So, if Nvidia stays stagnant, these two would have to grow by 31% (Alphabet) and 45% (Amazon) to catch Nvidia.

Over a five-year span, those aren’t unrealistic outperformance rates, so the odds of either company surpassing Nvidia aren’t that low.

Alphabet has a strong case of being worth more than Nvidia solely on a valuation basis. I could talk about how Google Gemini is a fantastic generative AI model that is starting to pick up momentum after stumbling out of the gate or how Google Cloud is vital in artificial intelligence (AI) infrastructure. But the argument is far simpler than that.

Currently, Alphabet trades at 24.5 times forward earnings. While this is still more expensive than the broader market’s 22.3 times forward earnings (measured by the S&P 500 index), it’s still far cheaper than the three larger companies in front of it.

GOOGL PE Ratio (Forward) data by YCharts

With Microsoft and Apple trading at 34 and 33 times forward earnings, respectively, they garner a much higher premium than Alphabet.

While some may argue that this premium is warranted due to recent execution, I’d argue that Alphabet is just as deserving over the long term. If you gave Alphabet a 33 times forward earnings multiple, the company would be valued at $3.08 trillion — essentially the same size as Nvidia.

Alphabet doesn’t get nearly the respect that some other companies do in today’s market. As a result, I think it has a strong case to be worth more than Nvidia in the future, as it isn’t trading with lofty expectations built into the stock.

Amazon

Amazon’s case isn’t as straightforward as Alphabet’s. The stock trades at 44 times forward earnings, nearly identical to Nvidia’s 45 times forward earnings valuation.

However, I believe Amazon’s high valuation is a byproduct of its focus on efficiency. CEO Andy Jassy has been pushing for better operating efficiency since he was promoted to CEO. So far, Amazon excelled in this pursuit.

Segment	Revenue	YOY Revenue Growth	Operating Income	YOY Operating Income Growth
North American	$86.3 billion	12%	$5 billion	455%
International	$31.9 billion	10%	$903 million	N/A
AWS	$25 billion	17%	$9.4 billion	84%

Data source: Amazon. YOY = Year over year. Note: International was unprofitable last year.

With the impressive improvements in all divisions in a year, his plan is clearly working. However, Jassy isn’t done yet. Although these profit levels are the highest they’ve been since the peak of COVID, Jassy believes there are more gains to be had.

This combination of revenue growth (Amazon grew its revenue by 13% in the first quarter) with margin improvement causes earnings to rise rapidly, making the stock appear cheaper if the stock price doesn’t rise by the exact same amount.

Amazon is a solid business with serious staying power. Because of its track record of execution and solid growth, I think it will be worth more than Nvidia in five years. Nvidia’s business comes in waves, and although that’s great for peaks, it can hurt it when times aren’t so good.

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

The post Prediction: 2 US stocks that will be worth more than Nvidia 5 years from now appeared first on The Motley Fool Australia.

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Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Keithen Drury has positions in Alphabet and Amazon. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Alphabet, Amazon, Apple, Microsoft, and Nvidia. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool Australia has recommended Alphabet, Amazon, Apple, Microsoft, and Nvidia. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.