• The woman who says she’s the real-life version of Martha on ‘Baby Reindeer’ just sued Netflix for $170 million

    Jessica Gunning as Martha Scott in "Baby Reindeer," and Fiona Harvey on "Piers Morgan Uncensored."
    Jessica Gunning as Martha Scott in "Baby Reindeer," and Fiona Harvey on "Piers Morgan Uncensored."

    • Fiona Harvey is suing Netflix for defamation over the portrayal of a stalker in 'Baby Reindeer.'
    • 'Baby Reindeer' is based on Richard Gadd's real-life experiences with a stalker during his early career.
    • Harvey claims the show misrepresented her, leading to public identification and reputational damage.

    Fiona Harvey, the woman who says she's the real version of the semi-fictionalized stalker on Netflix hit "Baby Reindeer," is suing the streaming giant.

    Harvey, a 58-year-old Scot, filed a lawsuit on Thursday in California, seeking more than $170 million and a jury trial. She's suing over defamation and intentional affliction of emotional distress, among other points.

    She did not sue creator and star Richard Gadd, who plays a fictional version of himself called Donny Dunn. "Baby Reindeer" is based on his experiences with being stalked by a woman earlier in his career, when he was trying to make it as a comedian.

    In the complaint, Harvey's lawyers said the show was a "brutal lie" that brought her unwanted attention, including death threats.

    "Netflix and Gadd destroyed her reputation, her character and her life," the attorneys wrote.

    On- and off-screen, Netflix has repeatedly said "Baby Reindeer" is a true story.

    "We intend to defend this matter vigorously and to stand by Richard Gadd's right to tell his story," a Netflix spokesperson told Business Insider.

    The company has not yet filed a response to the lawsuit.

    The real Martha Scott

    As the show picked up viewers, armchair sleuths raced to find the "real" stalker, named Martha Scott in the show, and the man who Gadd said abused him.

    In late April, Gadd asked fans not to speculate about who the real people were behind the show's characters. He told GQ he disguised the stalker's identity in the show.

    "What's been borrowed is an emotional truth, not a fact-by-fact profile of someone," Gadd said.

    In the lawsuit, Harvey said she was identified days after the show's April debut. Her attorneys said people found a public 2014 tweet she sent to Gadd that used a phrase repeated in the show.

    Harvey's court filing outlined similarities between the stalker character and herself: a Scottish woman about 20 years older than Gadd living in London, with similar appearance and speaking patterns. Both the character and Harvey were accused of stalking a lawyer. It's unclear if that reference is to an old colleague of Harvey's, who told BI on Thursday that Harvey harassed her from 1997 to 2002.

    But unlike the fictional Martha Scott, Harvey said she is not a convicted stalker, nor has she pled guilty to any crime. Her complaint said Netflix did not check any facts central to the show, including that the stalker sexually assaulted Gadd. She said she did not have any sexual encounters with the comedian.

    In an interview with Piers Morgan in early May, Harvey said that while she may have emailed Gadd, it was nowhere near the 40,000 messages he said the stalker sent him. She denied harassing Gadd and said she knew him from when she was bartending in London.

    Read the original article on Business Insider
  • 3 ASX 200 shares going gangbusters on Friday

    Three hikers lift their arms in jubilation as they reach a rocky peak overlooking a sensational view of water and mountains with a blue sky surrounding them.

    Three S&P/ASX 200 Index (ASX: XJO) shares set the market ablaze on Friday, each hitting 52-week highs to close out the session.

    Technology One Ltd (ASX: TNE), Insurance Australia Group Ltd (ASX: IAG), and QBE Insurance Group Ltd (ASX: QBE) are all showing impressive gains this year.

    Let’s explore what’s driving the remarkable performances of these ASX 200 shares and what top brokers are saying about their prospects.

    Technology One Ltd (ASX: TNE)

    Technology One shares surged to a new 52-week high of $18.37 today before retreating slightly to close at $18.23. This reflects an 18.6% increase this year to date.

    Bell Potter is particularly bullish on Technology One. According to my colleague James, the broker attributes its success to consistent profit before tax (PBT) growth over the past four years.

    Bell Potter believes the ASX 200 shares’ PBT growth justifies a re-rating to a higher price-to-earnings (P/E) multiple. It has set a price target of $20.25, calling for 11.6% upside from the current share price. This doesn’t include the current 1% trailing dividend yield, totalling nearly 13% potential return.

    Goldman Sachs echoes this sentiment. It recently noted the company’s strong, visible earnings profile and attractive valuation.

    TNE’s earnings profile is strong, visible and achievable given the [annual recurring revenue] growth outlook, with Goldman Sachs estimates +17% FY23-26E PBT [compounding annual growth rate] even assuming ARR below management.

    The broker rates Technology One a buy with a $18.85 per share price target. After this week’s price acton, it is almost there.

    Insurance Australia Group Ltd (ASX: IAG)

    Insurance Australia Group reached a 52-week high today, climbing to $6.59 per share — a 16% increase in 2024.

    My colleague Bronwyn says Citi analyst Nigel Pittaway prefers IAG over Suncorp, citing IAG’s cost-cutting opportunities and better market value.

    Despite this, Goldman Sachs holds a neutral rating on the ASX 200 share. It acknowledges several positives, including a strong rate cycle in Australia and earnings growth in its Insurance business.

    Goldman analysts point out IAG’s capital flexibility and potential benefits from a decrease in interest rates.

    It also says IAG could grow operating earnings, lowering “its expense ratio from largely rate-driven top-line growth”.

    Although Goldman’s 12-month price target is $6.30, Citi is more optimistic. It projects a $6.75 price target, suggesting a 7% upside.

    QBE Insurance Group Ltd (ASX: QBE)

    Shares of ASX 200 insurance giant QBE Insurance hit a 52-week high at $18.67 today, marking a 26% increase year-to-date.

    Morgans is constructive on QBE, citing strong interest rate increases in its insurance book as a tailwind. It expects dividends per share of 99 cents in FY 2024 and 108 cents in FY 2025 my colleague Jame reports.

    The broker has an add rating with a $20.00 price target on QBE.

    Goldman Sachs also rates QBE as a buy, noting the ASX 200 share has the “strongest exposure to the commercial rate cycle”.

    Following the insurer’s first quarter results, Goldman analysts increased their forward earnings projections and raised their price target by around 10 cents to $20.90 per share.

    If it does hit this mark, it would represent another 52-week high for the company.

    The post 3 ASX 200 shares going gangbusters on Friday appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Insurance Australia Group Limited right now?

    Before you buy Insurance Australia Group Limited shares, consider this:

    Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Insurance Australia Group Limited wasn’t one of them.

    The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    And right now, Scott thinks there are 5 stocks that may be better buys…

    See The 5 Stocks
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    Motley Fool contributor Zach Bristow 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 Technology One. The Motley Fool Australia has recommended Technology One. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

  • India’s once-hot startup Byju’s was valued at $22 billion. Now, HSBC and BlackRock say it’s worth nothing.

    Byju Raveendran
    Byju CEO Byju Raveendran oversees a company navigating several crises.

    • HSBC and BlackRock have written off their investments in once-hot Indian tech company Byju.
    • The Indian education tech giant is facing legal and financial troubles.
    • Investors, including Prosus, are trying to remove CEO Byju Raveendran.

    In another blow to education tech giant Byju's, HSBC and BlackRock have both slashed their valuations of the once-hot company down to zero in recent months.

    In 2022, the education tech company said it raised $800 million at a $22 billion valuation.

    BlackRock was the first investor to publicly signal the company's troubles. In a first-quarter summary for some of its funds, the asset manager valued its stake in Byju's at $0, a number that has not been previously reported. In October, BlackRock slashed its valuation of the startup to less than $1 billion, TechCrunch reported.

    BlackRock invested in Byju's parent Think & Learn through various funds, all of which appear to have written off the investment in recent filings.

    HSBC similarly cut its valuation to zero in late May, local outlet Business Standard reported on Thursday. Per the outlet, HSBC estimated that Dutch tech investor Prosus' stake in Byju was worth nothing. Prosus owns nearly 10% of the company and invested about $500 million in Byju's.

    The valuation drops come after several legal and financial problems for the Bengaluru-based company.

    Earlier this week, a group of lenders asked a US court to initiate bankruptcy proceedings against Byju's subsidiaries over a $1.2 billion loan. The company also cut the salaries of new sales hires by 90% in an attempt to cut costs, local outlet Inc42 reported on Thursday.

    Byju's investors, including Prosus, are seeking the removal of its CEO, Byju Raveendran, and his family members from the board. The company's India CEO left in April, and it missed filing its 2023 financial reports.

    The digital and physical tutoring company was seen as a star in the Indian startup scene and even sponsored the Indian cricket team until 2023. It is backed by the Chan-Zuckerberg Initiative, Sequoia Capital, and Tencent, among others.

    Byju's first gained popularity during the pandemic for its unique approach to learning. The company faced challenges in 2022 after students began returning to schools and expensive acquisitions affected its bottom line.

    The company planned to go public through a SPAC deal in 2022, which did not ultimately pan out.

    Byju's and BlackRock did not immediately respond to requests for comment.

    Read the original article on Business Insider
  • A South Korean weapons company once seen as a dinosaur is now churning out howitzers twice as fast as its Western competitors

    A South Korean engineer works on a K-9 self-propelled howitzer at Hanwha Aerospace factory in Changwon on September 15, 2023.
    A South Korean engineer works on a K-9 self-propelled howitzer at Hanwha Aerospace factory in Changwon on September 15, 2023.

    • Once passed off as a relic that made only conventional arms, Hanwha Aerospace is returning to the spotlight.
    • Bloomberg reported that the South Korean firm builds howitzers up to thrice as fast as its competitors.
    • The outlet's surging arms exports underscore a global push to restart manufacturing for older arms.

    A South Korean weapons manufacturer that traditionally specialized in older, less advanced armaments is seizing on demand for 155mm howitzers by producing them faster than the West.

    Hanwha Aerospace can build its K9 self-propelled howitzer in about six months at $3.5 million apiece, Bloomberg reported, estimating the company to be two to three times as fast as its competitors.

    By comparison, French supplier Nexter was estimated to take about 30 months to deliver its Caesar self-propelled howitzer. However, it was reported in early January to have reduced the wait time by half.

    That tracks with estimated production times for other Western firms restarting howitzer manufacturing, though other factors, such as sourcing materials, may cost them additional time.

    The US uses the M777 howitzer, built by British company BAE Systems. In January, the firm said it expected to reopen production of the artillery platform for new US Army orders and would deliver an initial tranche next year.

    German manufacturer KNDS Deutschland is also expected to resume production of its self-propelled PzH 2000 howitzer, with parts from Rheinmetall. In June, it said it would deliver the first howitzers by mid-2025.

    Bloomberg reported that Hanwha's advantage comes from a streamlined production process that it's kept running as big Western defense contractors turned to more advanced weaponry years ago.

    Hanwha Aerospace CEO Son Jae-il told Bloomberg: "We focus on the middleweights, self-propelled guns, armored vehicles, tanks. In these, we're already globally competitive."

    That class of weapon "is the stuff that Lockheed Martin and Boeing don't do," Yoon Sukjoon, a senior fellow at the Korea Institute for Military Affairs, told the outlet.

    South Korean law prohibits defense contractors from exporting weapons to active combat zones. But Hanwha is finding business outside Ukraine.

    Its customers include Poland, which officiated an order for 679 of the K9 howitzers in July 2022, and Romania, which was reported in April to be looking into its first defense contract with South Korea for $725 million.

    According to Bloomberg, Hanwha's annual revenue from arms exports has jumped 11 times to $1.1 billion since the war in Ukraine began.

    In September, Hanwha factory workers in Changwon told Agence France-Presse that the facility had expanded production three times after Russia invaded.

    That growth underscores a worldwide push to revitalize conventional arms manufacturing as global tensions worsen and major militaries send their inventory to Kyiv.

    The US, for example, has begun driving up production of its 155mm shells from 10,000 rounds a month to a goal of 100,00 a month by 2025.

    South Korea's defense contractors have emerged as significant industry players, making the country the world's 10th biggest arms exporter, per the Stockholm International Peace Research Institute.

    According to SIPRI, the country held a 2% share of the global defense export market from 2019 to 2023, about 12% higher than the five years prior.

    Read the original article on Business Insider
  • Here are the top 10 ASX 200 shares today

    Silhouettes of nine people climbing a steep mountain to the top at sunset, and helping each other along the way.

    It was a glorious end to the trading week for the S&P/ASX 200 Index (ASX: XJO) and most ASX shares this Friday. After enjoying rises most days this week, the ASX 200 kept the train rolling today, recording a gain of 0.49%.

    That leaves the index at a flat 7,860 points as we go into the long weekend.

    This happy conclusion to the week’s trading for ASX investors comes after a decent night over on Wall Street last night.

    The Dow Jones Industrial Average Index (DJX: DJI) rose by a robust 0.2% during the American session on Thursday.

    The Nasdaq Composite Index (NASDAQ: .IXIC) wasn’t so lucky though, and dipped 0.086% lower.

    But getting back to the ASX now, let’s see how the different ASX sectors finished up their respective weeks.

    Winners and losers

    It was almost all smiles on the ASX boards today, with only one sector recording a loss.

    That unlucky sector was tech stocks. The S&P/ASX 200 Information Technology Index (ASX: XIJ) missed out on the market’s good mood, slipping 0.05%.

    But every other sector had a great time today.

    The best time was had by gold shares though. The All Ordinaries Gold Index (ASX: XGD) had a Friday to remember, rocketing by 1.56%.

    Consumer discretionary stocks were also on fire. The S&P/ASX 200 Consumer Discretionary Index (ASX: XDJ) soared 1.56% higher by market close.

    Mining shares had a decent day as well, as you can see from the S&P/ASX 200 Materials Index (ASX: XMJ)’s 0.76% surge.

    Then we had consumer staples stocks. The S&P/ASX 200 Consumer Staples Index (ASX: XSJ) enjoyed a 0.7% rise this session.

    Financial shares were next, with the S&P/ASX 200 Financials Index (ASX: XFJ) gaining 0.52%.

    Communications stocks were just as sought after. The S&P/ASX 200 Communication Services Index (ASX: XTJ) also rose 0.52%.

    Utilities shares weren’t left out of the party, illustrated by the S&P/ASX 200 Utilities Index (ASX: XUJ)’s 0.49% bounce.

    Real estate investment trusts (REITs) fared slightly worse, with the S&P/ASX 200 A-REIT Index (ASX: XPJ) increasing its value by 0.22%.

    Industrial shares had an average, but still positive day. The S&P/ASX 200 Industrials Index (ASX: XNJ) lifted 0.09%.

    It was a similar story for ASX energy stocks, evident by the S&P/ASX 200 Energy Index (ASX: XEJ)’s 0.08% uptick.

    Our final winners were healthcare shares. The S&P/ASX 200 Healthcare Index (ASX: XHJ) eked out a 0.07% improvement by the closing bell.

    Top 10 ASX 200 shares countdown

    Closing out the week on the index’s highest high was IDP Education Ltd (ASX: IEL). IDP shares shot up a rosy 5.65% today to finish the week at $15.33 each.

    There wasn’t any significant news or announcements out of IDP today, but it looks like some love from an ASX broker drove investors to buy up big.

    Here’s a look at the rest of today’s best stocks:

    ASX-listed company Share price Price change
    IDP Education Ltd (ASX: IEL) $15.33 5.65%
    Boss Energy Ltd (ASX: BOE) $4.50 3.93%
    Genesis Minerals Ltd (ASX: GMD) $1.99 3.65%
    Regis Resources Ltd (ASX: RRL) $1.92 3.50%
    Newmont Corporation (ASX: NEM) $63.60 2.91%
    Pro Medicus Limited (ASX: PME) $125.87 2.73%
    Nufarm Ltd (ASX: NUF) $4.86 2.53%
    Capricorn Metals Ltd (ASX: CMM) $4.79 2.35%
    Domino’s Piza Enterprises Ltd (ASX: DMP) $39.22 2.27%
    Car Group Ltd (ASX: CAR) $36.63 1.89%

    Our top 10 shares countdown is a recurring end-of-day summary to let you know which companies were making big moves on the day. Check in at Fool.com.au after the weekday market closes to see which stocks make the countdown.

    The post Here are the top 10 ASX 200 shares today appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Boss Resources Limited right now?

    Before you buy Boss Resources Limited shares, consider this:

    Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Boss Resources Limited wasn’t one of them.

    The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    And right now, Scott thinks there are 5 stocks that may be better buys…

    See The 5 Stocks
    *Returns as of 5 May 2024

    More reading

    Motley Fool contributor Sebastian Bowen has positions in Newmont. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Domino’s Pizza Enterprises, Idp Education, and Pro Medicus. The Motley Fool Australia has recommended Car Group, Domino’s Pizza Enterprises, and Pro Medicus. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

  • It’s been 3 days since Modi won, and we’re already seeing what it’s costing him

    India's Prime Minister Narendra Modi addresses his supporters after Bharatiya Janata Party (BJP) won in the country's general election, in New Delhi on June 4, 2024.
    India's Prime Minister Narendra Modi addresses his supporters after Bharatiya Janata Party (BJP) won in the country's general election, in New Delhi on June 4, 2024.

    • Narendra Modi is prime minister again, but now his allies can start making demands of him.
    • These difference-makers want Cabinet positions and special funding, The Guardian and Reuters reported.
    • It's a stark change from when Modi won easily in previous elections without needing his allies.

    As Indian Prime Minister Narendra Modi assembles his next government, the calculus clearly differs from his last 10 years in power.

    Small political factions allied with his party, the Bharatiya Janata Party, have become vital to his hold on India's leadership. Tuesday's election result revealed that Modi would not have secured a simple majority in parliament had they not joined his cause.

    It's a humbling moment for the BJP, which, in the last two elections, easily achieved a simple majority without the need for its allies.

    This year, it fell 32 seats short of the 272 parliamentary seats necessary to win. The rest of its coalition, the National Democratic Alliance, pulled Modi through with another 52 seats, meaning a desertion of several allied parties could turn the tide of the election.

    And don't they know it. Now increasingly dubbed the "kingmakers" by international media, these smaller factions are jockeying for important concessions such as Cabinet positions and special status for their states.

    Two major players here are the Telugu Desam Party and Janata Dal (United) Party, which hold 16 and 12 seats, respectively. Modi's alliance would have only achieved 265 seats, seven below the majority mark without them.

    Both parties are known to have switched loyalties before and only joined forces with Modi in the months before the 2024 election.

    Reuters reported on Thursday, citing two anonymous sources, that the Telugu Desam Party is seeking federal funds to complete irrigation projects in the state of Andhra Pradesh and construction for its capital.

    The Guardian's South Asia correspondent Hannah Ellis-Petersen reported that the party also demands five Cabinet positions and the position of parliamentary speaker.

    Meanwhile, the Janata Dal (United) party is asking for three Cabinet seats, per Ellis-Petersen.

    That would drastically change Modi's government's composition, which had all Cabinet positions filled by BJP members.

    Local outlet The New Indian Express reported on Friday that the BJP was already considering dropping some of its previous Cabinet ministers, particularly out of a pool of 19 who lost big in their elections this year.

    There are about 50 portfolios to be filled, but ministers often take multiple positions or share responsibilities, meaning a typical Cabinet is just below 30 members.

    Still, Ellis-Petersen wrote that the BJP has set boundaries on what can be demanded.

    It is said to be refusing to entertain that any key posts in defence, finance, home affairs and external affairs, or indeed transport, highways and railways, would go to anyone other than its own ministers.

    Modi has so far secured the assent of his allies, who collectively declared this week that they would form a new government under him.

    Yet the haggling for loyalties is new territory for Modi's leadership, potentially marking a new era in how decisively he can project his vision over the country.

    He didn't have long to negotiate, either. Modi has already tendered his resignation to India's president and is expected to be sworn in for his third term over the weekend.

    The prime minister has campaigned heavily on India's rising status in the global economy and promised to turn the country into the world's manufacturing hub. He had boldly projected for the BJP to win 350 seats, with his coalition earning about 400 this year.

    With his election victory far less decisive than expected, the Indian stock market posted its worst day in four years.

    One of the major concerns from voters has been a surge in joblessness, particularly among young Indian graduates. India's unemployment rate was 8.1% in April, up from 7.4% in March, per the Centre for Monitoring Indian Economy.

    Read the original article on Business Insider
  • The answer to ‘Where are the women investors?’

    A woman holds out a handful of Australian dollars.

    Full disclosure… I am not a member of The Motley Fool’s investment team, nor would I consider myself an expert in finance. I am a forty-plus woman who is also a wife, mother, a full-time Fool and an investor. My first share purchase was many years ago when I took the advice of someone I’d just met at a barbeque – it was going to be a sure thing. It wasn’t.

    Just over 11 years ago I started working for The Motley Fool. I now lead The Motley Fool’s product team here in Australia. In what feels like another life I used to work as an accountant and taught secondary students Business and Economics – over the years I have seen things change in the world of investing.

    But one thing that hasn’t changed (enough in my opinion), though, is the number of women investors. Don’t get me wrong, there are women out there investing (and doing quite well for themselves) or who are wanting to invest, but the male voice is dominant in this area. This was highlighted in a conversation I had at a recent member event when I was talking to a guest who pointed out that it would be great to hear a “female” voice and more recently when Scott wrote “Where are the women investors” (hence the title of my article!).

    And that’s the reason why I came out from “behind the wall” today (and believe me when I say, this is really out of my comfort zone but hopefully there’s a lesson in that alone!).

    So while all the data shows that there is a lack of women investors  – amateur and professional – when compared to our male counterparts, the question is why?

    Because what we don’t read very often is that multiple studies have found that women outperform men when investing as we take on less risk, we don’t tend to invest in fads and our temperament sees us better able to handle volatility.

    Women talk. But are we talking about the right things? Growing up in the 80s (I’m showing my age) my family didn’t talk about finance, budgets or mortgages – I wish we had.

    So, it’s up to us. You, actually.

    Now think about what’s stopping you?

    Is it that you don’t know “how” or “where” to start?

    Is it that you think you don’t have enough funds to put away? What if I told you with a little bit of a mind shift you would be surprised with how you can make it work… for you?

    Does it seem overwhelming and you don’t feel you have the knowledge?

    No, this isn’t a sales pitch. I’m not going to ask for anything. I want more women to be investors (actually, I really want everyone to!). And, if you’re a woman reading this, I do want to help you take the first – or next – step in your investing journey.

    I know when I first started with The Fool my investing knowledge was limited – and I had studied finance! But in the years since, I have read more, listened (even more) and I have been patient.

    Now, let’s be honest. I’m not expecting we are going to solve the mystery of investing by writing one small piece… just like I wouldn’t be able to complete a marathon after going for my first 5 kilometre run… but both can start by taking some small steps and building onto them.

    It just starts with making a plan and setting your own goal.

    For me, that’s two words: financial freedom.

    You will often hear us talk about financial freedom, but what is it? I think this is a really personal question and will differ depending on who you ask. For me, it all comes down to my family and the opportunities I hope to provide them. For you, it might be an early retirement, being able to buy the designer handbag (Scott and I will agree to disagree on this), or to travel the world. We are all different, with different goals. But take a moment and think… What’s your goal and how can you get there?

    You might not know that answer… and what you think it is today, may change tomorrow (mine likely will!). I’ll return regularly in this space (it’s a nice little surprise for Scott!) but in the meantime if you have thoughts or questions, please drop us a line at info@fool.com.au.

    Fool on!

    The post The answer to ‘Where are the women investors?’ appeared first on The Motley Fool Australia.

    Wondering where you should invest $1,000 right now?

    When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    Scott just revealed what he believes could be the ‘five best ASX stocks’ for investors to buy right now. We believe these stocks are trading at attractive prices and Scott thinks they could be great buys right now…

    See The 5 Stocks
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    Motley Fool contributor Erin Bouwmeester 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.

  • Why this jumbo ASX gold stock is targeting a copper pipeline

    Open copper pipes

    ASX investors buy gold stocks for many reasons. Perhaps it might be the leveraged exposure to the price of gold that gold miners can provide. It could be a desire to hedge against inflation, deflation or economic or geopolitical uncertainty. It might even be to invest in what many people perceive to be a ‘real’ currency.

    But most ASX gold stock investors probably don’t buy a gold miner for its copper pipeline. Yet that’s exactly what one of the ASX’s largest gold miners is reportedly investing in today.

    Newmont Corporation (ASX: NEM) is one of the newest gold miners on the Australian share market. It only officially joined the ASX boards in October last year as a result of the US-based Newmont acquiring what was Australia’s largest gold miner at the time – Newcrest Mining – in full.

    As part of this takeover deal, Newcrest shares left the ASX, with Australian investors receiving ASX-listed Newmont stock in their place.

    At the time, the deal was one that Newcrest investors found too compelling to turn down. After all, Newmont is one of the largest gold miners in the world. And the addition of Newcrest’s portfolio to Newmont’s already impressive stable of long-life gold mines would enhance this reputation even further.

    But according to fresh reporting, Newmont is focusing just as much on the red metal as the yellow one going forward.

    ASX gold stock CEO sees a red future

    Newmont CEO Tom Palmer spoke to the Melbourne Mining Club this week, as reported by The Sydney Morning Herald (SMH). In this interview, Plamer stated that Newmont’s future project pipeline “is all copper”.

    Newmont is reportedly considering a joint venture with industrial metals giant BHP Group Ltd (ASX: BHP) in order to tap into BHP’s “significant copper reserves” in the wake of the latter’s failed bid for diversified British miner Anglo American plc (LSE: AAL)

    Palmer described the global demand for copper as “tectonic”, opening up opportunities across the mining sector:

    The world is going to continue to see the demand for copper drive opportunities where you can buy or where you can build… Whether that’s BHP or other mining companies, that is an important part of how we look at developing that project pipeline.

    Newmont currently produces around 150,000 tonnes of copper annually, but Palmer is hoping to expand this production base by focusing on Newmont’s opportunities in Canada and Papua New Guinea.

    The ASX gold stock has even indicated it could use proceeds from selling some of its lower-grade projects, such as Western Australia’s Telfer mine, to help expand its copper operations.

    Gold is a rather unusual commodity, with the vast majority of produced metal going into jewellery and bullion. Only a small fraction of the world’s annual gold production ends up in industrial applications. In contrast, copper is a foundational metal in the global economy.

    The rise in future-facing technologies like electric vehicles and renewable energy has seen many experts forecast a massive supply crunch for the red metal in coming years.

    Clearly, Newmont is paying attention. Let’s see what happens with this massive gold (and copper) miner going forward.

    The post Why this jumbo ASX gold stock is targeting a copper pipeline appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Newmont right now?

    Before you buy Newmont shares, consider this:

    Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Newmont wasn’t one of them.

    The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    And right now, Scott thinks there are 5 stocks that may be better buys…

    See The 5 Stocks
    *Returns as of 5 May 2024

    More reading

    Motley Fool contributor Sebastian Bowen has positions in Newmont. 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.

  • Brokers name 3 ASX shares to buy now

    A male sharemarket analyst sits at his desk looking intently at his laptop with two other monitors next to him showing stock price movements

    It has been another busy week for many of Australia’s top brokers. This has led to the release of a number of broker notes.

    Three broker buy ratings that you might want to know more about are summarised below. Here’s why brokers think these ASX shares are in the buy zone right now:

    ARB Corporation Ltd (ASX: ARB)

    According to a note out of Ord Minnett, its analysts have retained their buy rating and $44.00 price target on this 4×4 accessories company’s shares. The broker has been looking at industry data and was pleased with what it saw. It highlights that new vehicle sales remain strong, particularly in the SUV and 4WD categories. This bodes well for ARB and could be supportive of solid sales growth. In addition, the company’s expansion at home and overseas is another positive that is supportive of the broker’s buy thesis. The ARB share price is trading at $38.34 on Friday afternoon.

    IDP Education Ltd (ASX: IEL)

    A note out of Goldman Sachs reveals that its analysts have retained their buy rating on this language testing and student placement company’s shares with a reduced price target of $21.75. This follows the release of a market update which revealed that it is being negatively impacted by a more restrictive policy environment in its key destination countries. While Goldman acknowledges that the trading update was soft, it believes it should help investors better frame the earnings base for FY 2025. So, with Goldman expecting IDP Education’s earnings to rebound in FY 2026, it feels now is a good time to snap up its shares while they are down in the dumps. The IDP Education share price is fetching $15.18 today.

    Treasury Wine Estates Ltd (ASX: TWE)

    Another note out of Goldman Sachs reveals that its analysts have reiterated their buy rating on this wine giant’s shares with an improved price target of $13.40. This follows the release of an update on its North American strategy and the reaffirming of its guidance for FY 2024. Goldman was pleased with both and has boosted its earnings estimates to reflect this. The broker also highlights that Treasury Wine’s shares look attractively priced given the positive delivery of its strategy reset, as well as its double-digit earnings per share growth. It is now eagerly anticipating the company’s China focused business update later this month. The Treasury Wine share price is trading at $12.04 this afternoon.

    The post Brokers name 3 ASX shares to buy now appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Arb Corporation right now?

    Before you buy Arb Corporation shares, consider this:

    Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Arb Corporation wasn’t one of them.

    The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    And right now, Scott thinks there are 5 stocks that may be better buys…

    See The 5 Stocks
    *Returns as of 5 May 2024

    More reading

    Motley Fool contributor James Mickleboro has positions in Treasury Wine Estates. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended ARB Corporation, Goldman Sachs Group, and Idp Education. The Motley Fool Australia has recommended ARB Corporation and Treasury Wine Estates. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

  • 3 ASX 200 stocks leading the charge higher in June

    A person sitting at a desk smiling and looking at a computer.

    Three S&P/ASX 200 Index (ASX: XJO) stocks are doing more than their fair share to get the benchmark index off to a strong start in June.

    After gaining a somewhat tepid 0.5% in May, the ASX 200 is up 1.9% so far in June.

    A trend we hope to see continue!

    With under three hours left before the closing bell sounds the end of trading for the first week of the new month, here are the three ASX 200 stocks leading the charge higher.

    Three soaring ASX 200 stocks

    First up we have Graincorp Ltd (ASX: GNC).

    Shares in the agribusiness and processing company closed out May trading for $8.32. At the time of writing, shares are swapping hands for $9.32 apiece, up 12.0% in June.

    That sees the Graincorp share price up more than 29% so far in 2024. The ASX 200 stock also trades on a fully franked dividend yield of 3.0%.

    As for what helped lift the share price this week, Graincorp shares look to have caught some tailwinds from a better-than-expected crop forecast.

    As Motley Fool analyst James Mickleboro wrote earlier in the week:

    Bell Potter’s analysts note that the ABARE June east coast crop forecast has surprised to the upside. This implies another strong cropping outcome for Graincorp in FY 2025, with the initial June forecast implying the fifth largest crop on record.

    Amid Graincorp’s strong run this year, Bell Potter increased its price target to $9.90 a share, implying a potential upside of more than 6% from current levels.

    Which brings us to the second ASX 200 stock leading the gainers board in June, Healius Ltd (ASX: HLS), Australia’s second-largest pathology provider.

    The Healius share price closed out May at $1.27. At the time of writing, shares are changing hands for $1.38 apiece, up 8.7% in June. Despite that big weekly gain, shares remain down more than 16% in 2024.

    Investor interest may have been stirred by the company’s announcement on 30 May that it had entered into a long-term agreement with Australia’s largest Phase 1 clinical research business, Nucleus Network, as its preferred safety pathology provider.

    Under the agreement, Healius Pathology will provide safety laboratory testing services for Nucleus Network’s Australian clinical trial sites in Brisbane, Melbourne and Geelong.

    Rounding off the list of ASX 200 stocks leading the charge higher in June is The Star Entertainment Group Ltd (ASX: SGR).

    Shares in the casino operator closed out May trading for 45 cents apiece. At the time of writing, shares are trading for 49 cents, up 8.9% in June.

    That leaves the Star Entertainment share price down just under 7% in 2024.

    With no fresh news out from the company, investors may have been doing some bargain hunting after the ASX 200 stock tanked 16.7% in the last two weeks of May.

    That big drop came after Star addressed media rumours to confirm it had not received a proposal directly from Hard Rock Hotels and Casinos.

    The post 3 ASX 200 stocks leading the charge higher in June appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Graincorp Limited right now?

    Before you buy Graincorp Limited shares, consider this:

    Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Graincorp Limited wasn’t one of them.

    The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    And right now, Scott thinks there are 5 stocks that may be better buys…

    See The 5 Stocks
    *Returns as of 5 May 2024

    More reading

    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.