Stock Pick

  • Capital raise sends Novonix shares down 9% before trading halt

    A man sits in a chair hunched over a laptop and covered head to toe in frozen icicles to represent Envirosuite's trading halt

    Novonix Ltd (ASX: NVX) shares have taken a hit today, sinking sharply before a trading halt was announced midway through the session.

    The halt was requested by the company after it responded to an article in The Australian Financial Review. The report said Novonix was about to undertake a capital raising led by Citigroup’s equity desk.

    Trading was suspended around midday on Wednesday after Novonix shares dropped more than 9% to 64.5 cents apiece.

    What led to the drop in Novonix shares?

    Novonix shares opened the day on a high. After an initial spike to hit $0.71, investors were swapping the stock between them at around $0.70 apiece until midday.

    Then, the rug was pulled. More than $31 million (6 cents per share) was wiped from the company’s market capitalisation before shares were put on ice.

    “Citigroup’s equities desk was wall-crossing investors on Wednesday for a capital raising in lithium ion battery play Novonix, Street Talk can reveal”, the opening line read.

    The bank had reportedly fostered up support for the capital raise.

    The request for a halt in trading came as Novonix responded to the AFR’s report. It denied it was raising cash. At least for now. It said:

    Novonix refers to an article in the Street Talk section on the Australian Financial Review’s
    website speculating that Novonix will undertake a capital raising.

    Novonix confirms that no decision has been made to undertake a capital raising…

    Novonix has requested the halt remain in place until Friday, June 7, or until it makes an earlier announcement. There is no evidence to suggest it will or won’t make an announcement before Friday.

    The company last completed a raise of equity capital at $2.90 per share. At the time of the trading halt on Wednesday, Novonix shares traded more than 77% lower than this mark.

    Following today’s report, investors will likely be watching the Novonix story very closely in the coming days.

    What’s next for Novonix?

    In May, Novonix revealed that Hatch, a global engineering and consulting firm, completed an independent assessment of its Riverside production facility in the US.

    As my colleague James reported, when the facility reaches its target output, it is expected to run on operating margins of 23%–30%.

    As a positive, the company is reportedly on track to achieve its initial targets at Riverside by the end of 2024. This is 3,000 tonnes per annum (tpa), with plans to scale up to 20,000 tpa.

    Novonix shares have had a difficult time in 2024, down 12.84%. During the past year, they have fallen 31.38%.

    The post Capital raise sends Novonix shares down 9% before trading halt appeared first on The Motley Fool Australia.

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

    Before you buy Novonix 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 Novonix 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

    Citigroup is an advertising partner of The Ascent, a Motley Fool company. 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 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.

  • Jamie Dimon probably isn’t too happy about how the Indian election went

    JPMorgan CEO Jamie Dimon (left) and Indian Prime Minister Narendra Modi (right).
    JPMorgan CEO Jamie Dimon (left) and Indian Prime Minister Narendra Modi (right).

    Win McNamee via Getty Images; Sean Gallup via Getty Images

    • Indian's Prime Minister Narendra Modi lost his absolute majority in parliament on Tuesday.
    • That is probably gonna be a bummer for JPMorgan boss Jamie Dimon who has been a big fan of Modi.
    • Dimon was effusive in his praise for Modi, saying that he "has done an unbelievable job in India."

    JPMorgan chief Jamie Dimon probably isn't too happy that India's Prime Minister Narendra Modi lost his absolute majority in parliament on Tuesday.

    The Wall Street veteran hasn't been afraid to voice his support for Modi. In April, Dimon effusively praised the Indian leader during an event at The Economic Club of New York.

    "Modi has done an unbelievable job in India. I know the liberal press here, they beat the hell out of him," Dimon said. "He's taken 400 million people out of poverty."

    Dimon also said he thought US officials needed to stop "lecturing" Modi on how to run India and instead start taking lessons from the world's most populous democracy.

    "They've got an unbelievable education system. Unbelievable infrastructure. They're lifting up that whole country because this one man is tough," Dimon said.

    "He's breaking down some of the bureaucracy," he added. "And we need a little bit more of that here."

    Representatives for Dimon didn't immediately respond to a request for comment from BI sent outside regular business hours.

    Modi, who's held the premiership since 2014, has long been a favorite of corporate titans like Dimon. Modi's pro-growth, pro-business policies are a huge draw for tech giants like Apple and Tesla, both of which have signaled intentions to expand operations there.

    "India is an incredibly exciting market. It's a major focus for us," Apple CEO Tim Cook said in a November earnings call. "I was just there and the dynamism in the market, the vibrancy is unbelievable."

    Modi's decade-long reign as India's prime minister has coincided with a decline in the country's poverty levels. According to the World Bank, the share of India's population living in extreme poverty has dropped from 18.8% in 2014 to 12.9% in 2021.

    However, some of Modi's critics may argue that his track record in economic policymaking has been uneven.

    In October, India's unemployment rate hit 10.1%, per the Centre for Monitoring Indian Economy. That is the first time the country's jobless rate has exceeded 10% since the COVID-19 pandemic.

    "Growth has been good, but it has to be set in perspective," Raghuram Rajan, a former governor of the Reserve Bank of India, told the Financial Times in January.

    News of Modi's shrinking majority hit the Indian stock market on Tuesday — it registered its most significant daily drop since March 2020.

    To be sure, Modi is likely to stay on as prime minister, albeit as the head of a coalition government. Experts say the electoral surprise is unlikely to unravel Modi's past reforms.

    "This surprise creates political and policy uncertainties that will have at least short-term consequences," said Jeff Lande, a nonresident fellow at the Atlantic Council's South Asia Center.

    "A reversal of the sort of investments and capital expenditure that the government has advanced in recent years, in favor of a return to subsidies, protectionism, and welfare programs, is unlikely," he continued.

    Read the original article on Business Insider

  • Jensen Huang signed a woman’s chest. Yes, you read that right.

    Jensen Huang at Nvidia's 2024 developer conference
    Jensen Huang's Tom Ford jacket has made a couple of conference appearances in recent months.

    Justin Sullivan/Getty Images

    • Nvidia CEO Jensen Huang signed autographs, including a woman's top, at a Taiwanese tech event.
    • Huang's popularity has surged alongside Nvidia's soaring stock.
    • This trip to Taiwan cements Huang's rockstar status.

    Jensen Huang is shedding his Ultimate Cool Dad status, becoming — for better or worse — the true rockstar that's been lurking just beneath his black leather jacket.

    In a crowded booth at a Taiwanese tech conference on Tuesday, the Nvidia CEO wore the same glasses and Tom Ford jacket he sported for Sunday night's keynote address.

    He signed Macbooks, chips, and even a woman's top, just above her cleavage.

    "Is that a good idea?" he asked with a smile, before scrawling his name with a black pen on the woman's white top, in a video posted to Threads of the encounter.

    At the conference, Huang spoke about the robot revolution and Nvidia's next-generation chip.

    Huang signed a woman's top
    Huang signed a woman's top at Computex

    Chen/Threads

    Huang has stayed in the spotlight as artificial intelligence pushes demand for Nvidia's software and hardware to record levels. As the company's stock soared 197% over the last year, the press — including Business Insider — has scrutinized Huang's memo-writing style, his fashion, and his organizational style.

    While other CEOs are known for their fashion, including Mark Zuckerberg's recent glow-up, no one is lining up with their chests out for Tim Cook.

    A Nvidia spokeswoman declined to comment on the signature.

    Read the original article on Business Insider

  • Here are the top 10 ASX 200 shares today

    A happy couple drinking red wine in a vineyard as the Treasury Wine share price rises today

    It was a happy hump day for the S&P/ASX 200 Index (ASX: XJO) and most ASX shares this Wednesday as investors shook off the negativity that hit the markets yesterday.

    As of the market close, the ASX 200 had added a healthy 0.41%, pushing the index up to a flat 7,769 points.

    This happy Wednesday for ASX investors comes after an equally rosy night of trading up on Wall Street.

    The Dow Jones Industrial Average Index (DJX: .DJI) had a great time, getting a 0.36% bump up.

    The Nasdaq Composite Index (NASDAQ: .IXIC) fared similarly, gaining 0.17%

    But returning to the ASX boards now, lets take stock of how the different ASX sectors dealt with today’s good mood on the markets.

    Winners and losers

    Despite the market’s rise, we still saw a few sectors record a loss for the day.

    Leading the losers was the mining sector. The S&P/ASX 200 Materials Index (ASX: XMJ) had a horrid day, tanking by 1.11%.

    The same could be said for gold shares. The All Ordinaries Gold Index (ASX: XGD) slumped 1.03%.

    It seems commodities were on the nose, as energy stocks also suffered this Wednesday. The S&P/ASX 200 Energy Index (ASX: XEJ) ended up losing 0.91%.

    Tech shares were also on the nose, as you can see from the S&P/ASX 200 Information Technology Index (ASX: XIJ)’s 0.61% slide.

    But that’s it for the losers. Turning to the winners now, it was communications stocks that came out on top. The S&P/ASX 200 Communication Services Index (ASX: XTJ) surged 2.01% higher by the market close.

    Healthcare shares also had a cracking day, with the S&P/ASX 200 Healthcare Index (ASX: XHJ) leaping up 1.69%.

    ASX consumer staples stocks were hot property too, illustrated by the S&P/ASX 200 Consumer Staples Index (ASX: XSJ)’s 1.57% gallop higher.

    It was the same story for real estate investment trusts (REITs). The S&P/ASX 200 A-REIT Index (ASX: XPJ) also soared by 1.57%.

    Consumer discretionary shares were another bright spot, with the S&P/ASX 200 Consumer Discretionary Index (ASX: XDJ) banking a robust 1.11%.

    Industrial stocks were also making investors happy. The S&P/ASX 200 Industrials Index (ASX: XNJ) bounced 0.73% higher today.

    As were financial shares. The S&P/ASX 200 Financials Index (ASX: XFJ) lifted by 0.62%.

    Our final winners were utilities stocks. The S&P/ASX 200 Utilities Index (ASX: XUJ) managed to wrangle a rise of 0.43%.

    Top 10 ASX 200 shares countdown

    The top ASX stock on the index this hump day was Treasury Wine Estates Ltd (ASX: TWE).

    Treasury shares soared 5.27% higher today up to $11.99 a share. This gain came after the company reaffirmed its FY2024 guidance last night and outlined plans for growth in the North American markets. Investors seem to approve.

    Here’s a look at the rest of this Wednesday’s winners:

    ASX-listed company Share price Price change
    Treasury Wine Estates Ltd (ASX: TWE) $11.99 5.27%
    Seek Ltd (ASX: SEK) $23.78 4.85%
    Nanosonics Ltd (ASX: NAN) $2.92 4.66%
    Pro Medicus Limited (ASX: PME) $122.92 4.63%
    Graincorp Ltd (ASX: GNC) $9.23 4.06%
    Car Group Ltd (ASX: CAR) $35.71 3.42%
    Charter Hall Social Infrastructure REIT (ASX: CQE) $2.50 3.31%
    Auckland International Airport Ltd (ASX: AIA) $7.26 3.27%
    Fisher & Paykel Healthcare Corporation Ltd (ASX: FPH) $28.81 3.19%
    Credit Corp Group Ltd (ASX: CCP) $14.29 3.18%

    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 Auckland International Airport Limited right now?

    Before you buy Auckland International Airport 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 Auckland International Airport 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 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 Nanosonics and Pro Medicus. The Motley Fool Australia has positions in and has recommended Nanosonics. The Motley Fool Australia has recommended Car Group, Pro Medicus, Seek, 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.

  • Up 260% in 2024, this ASX All Ords stock just hit another all-time high

    Young businessman standing on the top of the mountain punching fist in the air.

    ASX All Ordinaries (ASX: XAO) shares are in the green in 2024, with the All Ords index up 2.4% this year to date. Some individual shares have crushed this result, hitting all-time highs along the way.

    DroneShield Ltd (ASX: DRO) is a case in point. Shares in this tech player have rocketed in trading today, nudging an all-time high of $1.37 in morning trade. The DroneShield share price is swapping hands 5.2% higher at $1.35 apiece at Wednesday’s close.

    This marks a massive 260% increase in 2024 alone, leaving the broad index behind in its dust.

    So, what’s driving this impressive surge in the ASX All Ords stock?

    Why are investors buying this ASX All Ords stock?

    DroneShield is a counter-drone technology company currently working with the US Military for its drone-defense systems. Recent contract wins have seen investors bid up the ASX All Ord stock rapidly this year.

    In May, it announced a $5.7 million repeat order from a US Government customer for its advanced Counter-UxS systems. According to my colleague James, this order will be fulfilled throughout 2024, potentially enhancing DroneShield’s revenue and market position.

    DroneShield CEO Oleg Vornik also shed light on the company’s growth potential in a recent interview. Vornik discussed the possibility of increasing revenues from $55 million last year to between $300 million and $500 million annually within the next five years.

    Vornik highlighted that the counter-drone market was currently underserved and that he expected “customers need to buy 100 times more than what they purchased” due to strong public and private market demand.

    DroneShield’s latest quarterly results underscore the growth of these markets. The company reported $16.4 million in revenue for the 3 months to March 2024.

    That signifies a 900% increase in sales from the same period last year. In my view, this is certainly another reason investors have been on a feeding frenzy in this name.

    What’s next?

    Bell Potter analysts upgraded the stock to a buy rating in a note from May, anticipating strong performance from the tech company.

    The broker forecasted $97 million in sales and $24.4 million in earnings for 2024, representing year-over-year increases of 80% and 163%, respectively. If DroneShield meets these targets, its share price could continue its upward trajectory.

    Looking forward, the company’s sales pipeline stood at $519 million by the end of Q1 CY 2024. Management said it had $27 million in contracted orders currently underway.

    All we can do is wait for the company’s next earnings results to see if it is on track to hit estimates.

    Foolish takeaway

    Shares in this ASX All Ords stock have soared in 2024, driven by its business growth initiatives and significant contract wins.

    With the stock trading at $1.35 per share, it has climbed 260.8% since January this year and is up a hefty 434% in the last 12 months.

    I think DroneShield’s future certainly looks promising. Investors may want to keep an eye on this ASX All Ords stock as it continues to navigate the burgeoning counter-drone market.

    The post Up 260% in 2024, this ASX All Ords stock just hit another all-time high appeared first on The Motley Fool Australia.

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

    Before you buy Droneshield 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 Droneshield 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 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 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.

  • Yes, Narendra Modi won again. So what’s all the fuss about?

    India's Prime Minister Narendra Modi attends the release of the Bharatiya Janata Party's (BJP) manifesto ahead of country's upcoming general elections, at the party headquarters in New Delhi on April 14, 2024.
    India's Prime Minister Narendra Modi attends the release of the Bharatiya Janata Party's (BJP) manifesto ahead of country's upcoming general elections, at the party headquarters in New Delhi on April 14, 2024.

    SAJJAD HUSSAIN/AFP via Getty Images

    • Narendra Modi continues to be prime minister, but how he won was a major blow to the leader.
    • His ruling party expected to smash the polls but couldn't secure a majority without the help of allies.
    • With his allies now kingmakers, Modi must now balance his governing with securing their loyalty.

    Narendra Modi has been prime minister of India for 10 years.

    On Tuesday, he extended his tenure by another potential five years when his ruling party, the Bharatiya Janata Party, secured a majority in the lower house of parliament with its allies.

    That's the key to everything being said about the world's biggest election — without his allies, Modi would have lost control of parliament and, by extension, India.

    It's why the election results have been a shocking blow to Modi and the BJP despite them winning.

    Anyone seeking a majority in India's parliament — the prerequisite for naming a prime minister — needed to win 272 out of 543 seats. And this time, the BJP won only 240, relying on smaller parties under a coalition called the National Democratic Alliance to carry it past the finish line.

    For a BJP that previously enjoyed a majority on its own with 303 seats in 2019, that's a stark shift in its grip on power. Its alliance only managed to secure 293 seats, just 21 more than needed for a majority.

    The result was especially humbling for Modi because the NDA was projected to slam-dunk the election with a whopping 400 seats. The incumbent seemed so confident that he declared victory three days before the result announcements, saying his voters turned out in "record numbers."

    Now, though, his allies hold the enviable position of being the difference-maker in deciding who leads India. Should they all ditch Modi for his rivals in the Indian National Developmental Inclusive Alliance, they could oust him from leadership.

    Two of the biggest players in that gaggle of kingmakers, the Telugu Desam Party and the Janata Dal (United), hold a combined 28 seats and are led by politicians known for switching loyalties, per Bloomberg.

    Modi now must ensure his coalition holds so he can remain in office, and is set to enter talks with allied leaders to secure their support.

    His weakened hold on India's parliament was big news to observers concerned about the rise of his ideology, Hindutva, which promotes building a Hindu nation and has been criticized as right-wing and anti-Muslim extremism.

    So why did the stock market tumble?

    Tuesday's result surprised a world expecting Modi to trounce his opponents and widen his lead in parliament.

    India's stock market posted its worst day in four years after the announcement, dropping by as much as 8.5% on Tuesday before ending the day at 5.9%.

    Why the loss of faith? Experts aren't expecting monumental change for India's economy, but a coalition government will likely be far less nimble with major policies.

    "India's economic and security drivers will remain unchanged. However, a coalition government will often take big decisions more slowly and be less inclined to push states to meet national objectives in areas like the energy transition," wrote Richard Rossow, chair of US-India Policy Studies at the Center for Strategic & International Studies.

    And with uncertainty hanging over the BJP's hold on power, questions are growing about what India's policies might soon look like.

    Experts like Jeff Lande, a nonresident fellow at the Atlantic Council's South Asia Center, think it's highly unlikely we'll see any reversal in the overall direction of India's economy.

    Modi's heavy investment style and capital expenditure should still continue, Lande wrote.

    "Policy and political decisions will likely be delayed," he added. "Industry, particularly multinational corporations, and partner governments may hold off on some decisions as they wait and see how the new government develops."

    This year's shock result also casts doubt on whether Modi can decisively coalesce enough momentum to rocket the Indian economy forward and allow it to one day catch up with China's.

    The country has lagged behind Beijing's rapid growth since the 1980s, and Modi wants to lay the groundwork for India to become a global manufacturing hub in the next few years.

    But Kapil Sharma, acting senior director of the Atlantic Council's South Asia Center, said the BJP slipping is good for India's economy as a whole.

    The votes show that the average Indian citizen isn't feeling the economic benefits that Modi's policies have brought to the wider nation, and the ruling party will have to govern with extra care to maintain its lead, Sharma wrote.

    "The BJP and its coalition government are now operating in a 'now or never' moment," he wrote.

    As for foreign policy, most experts say Modi's allies are unlikely to fundamentally alter India's approach.

    Rossow of CSIS said Chinese aggression should continue pushing India to work closely with the US.

    "The United States' willingness to share advanced weapons systems, contribute to India's domestic defense manufacturing, and offer assistance during periods of military tension with China provides a strong foundation that should withstand political change," he said.

    Most experts say the election results show that the world's largest nation still holds onto its democracy.

    Gautam Nair, an assistant professor of public policy at Harvard, called Tuesday a "watershed moment" that showed Modi's nationalist message wasn't resonating with voters.

    Rossow said that despite Modi extending his influence over key institutions such as the courts, voters are still making their choices count. "This election, even if Prime Minister Modi retains power, shows the power of India's democracy," said Rossow.

    Read the original article on Business Insider

  • Is buying ASX gold shares right now a good idea?

    gold, gold miner, gold discovery, gold nugget, gold price,

    Investors who snapped up ASX gold shares on 28 February should be sitting on some outsized gains today.

    That’s because 27 February marked the beginning of the sizzling run higher for the gold price.

    Just what kind of sizzling run are we talking about?

    Well, on 27 February gold was trading for US$2,030 per ounce, already well above the US$1,820 that same ounce was fetching on 5 October.

    But amid strong central bank buying, the prospect of lower interest rates on the horizon from global central banks, and increased demand for haven assets, the gold price charged higher from there to hit new records on 20 May.

    While bullion has retraced a touch from those highs, it’s still commanding US$2,336 per ounce today. This sees the yellow metal up 15.1% since the end of February.

    As you’d expect, that’s been a boon for most ASX gold shares.

    Indeed, since market close on 28 February, the S&P/ASX All Ordinaries Gold Index (ASX: XGD) has rocketed 23.0%. For some context the All Ordinaries Index (ASX: XAO) is up 1.4% over this same period.

    But with that kind of outperformance already in the bag, is now still a good time to buy ASX gold shares?

    Why ASX gold shares could keep shining bright

    A range of company-specific factors will determine how well any single ASX gold share will perform over the coming years.

    But what happens with the gold price will impact them all.

    On that front, UBS has upgraded four ASX gold shares, labelling the Aussie gold sector as “relatively attractive“.

    As The Australian reports UBS has upgraded its outlook for Northern Star Resources Ltd (ASX: NST), Genesis Minerals Ltd (ASX: GMD), Regis Resources Ltd (ASX: RRL) and SSR Mining Inc (ASX: SSR).

    The upgrades come amid the broker’s upwardly revised expectations for the gold price.

    UBS’ analysts have increased their 2025 gold price target by 21% to US$2,700 per ounce. The broker also increased its 2026 price forecast by 34% to US$2,775 per ounce. And UBS’ revised 2027 gold price forecast of US$2,600 per ounce is up 30% from the prior forecast.

    In Aussie dollars that would see the 2025 gold price at AU$4,053 per ounce.

    Taking ASX gold share Northern Star as one example, the miner’s March quarterly report revealed it was producing gold at an all-in sustaining cost (AISC) of AU$1,844 per ounce (US$1,213/oz). So we’re talking about some hefty potential profit margins here.

    Commenting on the upgrades for the ASX gold shares, UBS analysts said:

    We have previously flagged some moderate risks around FY 2025 guidance and medium-term cost profiles and have taken the opportunity to update this, but this pales in comparison to the prospect of nearly AU$4,000 per ounce gold.

    The post Is buying ASX gold shares right now a good idea? appeared first on The Motley Fool Australia.

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

    Before you buy Genesis Minerals 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 Genesis Minerals 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.

  • What is the dividend payout for Nvidia stock?

    Accountant woman counting an Australian money and using calculator for calculating dividend yield.

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

    In case Nvidia (NASDAQ: NVDA) wasn’t already beloved among investors, now the semiconductor giant is enticing income seekers by increasing its quarterly dividend payouts. The distributions still won’t be huge on a percentage basis, but Nvidia’s cash payouts will be a nice bonus for long-term shareholders.

    Nvidia made another important announcement along with the dividend hike which may confuse some investors. There’s no need to worry, though, as the upcoming changes won’t diminish the incentive to buy and hold Nvidia stock.

    A small yield gets a big raise

    Amid a slew of positive first-quarter fiscal 2025 data points, Nvidia’s dividend raise announcement may have gotten lost in the shuffle for some investors. Yet income harvesters shouldn’t downplay the significance of Nvidia’s upcoming quarterly dividend hike.

    To recap the announcement, Nvidia will increase its quarterly per-share dividend distribution by 150% from $0.04 to $0.10. There’s still time to get in, as Nvidia’s shareholders of record on June 11 will be paid on June 28 (though, depending on your broker, it might take a few extra days to see the cash payment show up in your account).

    What about Nvidia’s stock split?

    That’s all simple enough, but there’s another, concurrent announcement from Nvidia that might complicate things. Specifically, Nvidia is enacting a 10-for-1 forward stock split. If you’re an Nvidia shareholder of record on June 6, you’ll receive nine additional Nvidia shares after the market closes on June 7; trading on a split-adjusted basis will begin on June 10.

    So, for example, the Nvidia share price might be reduced from roughly $1,160 to $116. What’s known for certain, though, is that the increased dividend distribution will be $0.01 per share after the split rather than $0.10 per share.

    A penny per share per quarter doesn’t sound like much, and the forward annual dividend yield will still be minuscule (0.0034%). Still, at least the quarterly per-share payment will be 150% better than the $0.004 it would have been, post-split, without Nvidia’s dividend hike. 

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

    The post What is the dividend payout for Nvidia stock? appeared first on The Motley Fool Australia.

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

    Before you buy Nvidia 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 Nvidia 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

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

  • This high-profile ASX 200 stock is soaring on a $130 million windfall

    Man smiling at a laptop because of a rising share price.

    It’s been a rather pleasant day for the S&P/ASX 200 Index (ASX: XJO) and most ASX 200 stocks so far this Wednesday. At the time of writing, the Index has gained a healthy 0.37% and is back above 7,765 points.

    But let’s talk about one ASX 200 stock that’s faring even better.

    That stock is employment classifieds share Seek Ltd (ASX: SEK). Seek shares closed at $22.68 each yesterday afternoon. But this morning, those same shares opened at $23.10 and are currently up an eye-catching 4.7% at $23.74.

    It appears investors are excited about the announcement Seek just made to the ASX.

    Before market open this morning, Seek released an update for investors to digest. This update informed the markets that the company would be in line to receive a US$85 million ($130 million) windfall. That’s thanks to the sale of some of its assets.

    ASX 200 stock in line for $130 million payday

    Seek has reportedly entered into a binding agreement to offload 98.2% of its stake in OCC Mexico and 100% of its stake in Catho Online. The buyer is the Spanish employment company Red Arbor Holding, S.L.

    Red Arbor has agreed to pay Seek US$85 million for these assets. That’s in addition to “customary working capital and other adjustments”.

    US$20 million of that sum will be held in an escrow account as “security against certain representations and warranties given by SEEK in connection with the transaction”.

    Interestingly, Seek noted that “this is a negotiated sum and is not an estimate of SEEK’s future liability in relation to those matters”.

    Seek estimates that this transaction can be completed by the end of this month, June 2024. The proceeds have been earmarked for the reduction of Seek’s debt load.

    The company has told ASX 200 stock market investors that these sales are expected to result in a $15-35 million net loss on sale after tax. This is a result of factors like tax impacts, transaction costs, and foreign currency losses.

    Saying that, Seek reassured investors that there has been no material change to the company’s earnings guidance for the 2024 financial year as a result of these sales.

    As we mentioned above, it seems that ASX 200 stock market investors are approving of today’s announcements. That’s going off the decisive movements of the Seek stock price.

    Seek stock price snapshot

    Despite today’s move higher, Seek shares have had a rough time on the ASX boards of late. The ASX 200 stock remains down by almost 11.5% year to date. However, shares have risen by 1.45% over the past 12 months.

    Even so, long-term investors have endured a 33% drop or so from Seek’s last all-time high of over $35 a share. That came back in late 2021.

    At the current Seek share price, this ASX 200 stock has a market capitalisation of $8.46 billion. The company is currently trading with a dividend yield of 1.77%.

    The post This high-profile ASX 200 stock is soaring on a $130 million windfall appeared first on The Motley Fool Australia.

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

    Before you buy Seek 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 Seek 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 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 recommended Seek. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

  • 3 ASX All Ords shares just rerated by top brokers

    Three people in a corporate office pour over a tablet, ready to invest.

    With the All Ordinaries Index (ASX: XAO) up a healthy 0.3% in afternoon trade on Wednesday, we turn our attention to three ASX All Ords shares that were just rerated by leading brokers.

    Two received upgrades, while one was downgraded.

    (Broker data courtesy of The Australian.)

    Two ASX All Ords shares getting broker upgrades

    The first ASX All Ords shares earning a broker upgrade today is Infomedia Ltd (ASX: IFM), a software-as-a-service (SaaS) provider for the auto parts and servicing industry.

    The Infomedia share price has been on a downward trend since 10 April but remains up 9.0% in 2024.

    Shares are down 1.75% today, trading for $1.57 apiece. At that price, Infomedia shares trade on a fully franked trailing dividend yield of 2.6%.

    Bell Potter sees significant upside potential for the company. The broker raised Infomedia shares to a buy rating with a $1.90 price target. That’s 21% above current levels.

    The second ASX All Ords share getting a broker upgrade is Cooper Energy Ltd (ASX: COE).

    Shares in the oil and gas stock are getting hammered today, down 8.2%, trading for 20 cents apiece.

    This follows a 4.4% fall yesterday when Cooper Energy released an investor briefing.

    On the positive front, the company reaffirmed its FY 2024 guidance. Management is forecasting production of 60.5 TJe/d to 64.0 TJe/d, with production expenses to fall between $57 million and $63 million. Capital expenditure is expected to be $240 million to $280 million.

    Canaccord appears to believe the big two-day sell-off is unwarranted. The broker raised Cooper Energy to a buy rating with a 28-cent price target. That represents a potential 40% upside from current levels.

    Despite the recent retrace, the ASX All Ords share remains up 57.7% in 2024.

    And one stock downgraded

    Which brings us to the ASX All Ords share getting a broker downgrade, Whitehaven Coal Ltd (ASX: WHC).

    Shares in the ASX coal stock are taking a beating today, down 2.9% to $8.01 apiece.

    Longer-term, the Whitehaven share price is up an impressive 37.8% over 12 months. The coal miner also pays some juicy dividends. At the current price, this ASX All Ords share trades on a fully franked dividend yield of 6.1%.

    While CSLA cut Whitehaven to an accumulate rating, the broker’s $9.70 price target represents a 21% potential upside from current levels.

    As always, if you’re unsure of how or where to invest your money, seek expert advice.

    The post 3 ASX All Ords shares just rerated by top brokers appeared first on The Motley Fool Australia.

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

    Before you buy Cooper Energy 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 Cooper Energy 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 positions in and has recommended Infomedia. The Motley Fool Australia has recommended Infomedia. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.