Looking for two high-yielding ASX shares to bag their market-beating dividends?

Below, we look at two top passive income stocks that have delivered smashing yields over the year gone by and that I believe will continue to do so for years to come.

Both high-yield ASX shares also pay fully franked dividends. While franking credits aren’t a deal breaker for me, I do lean towards companies that provide them with the potential tax benefits they offer.

Now before moving on, do note that the yields we’re discussing are trailing yields. I believe both these companies will remain reliable, strong dividend payers over the coming years. However, future yields will vary depending on a range of company specific and macroeconomic factors.

With that said…

Two high-yielding ASX shares for passive income

The first high yield ASX share I’d buy now for dividends is Yancoal Australia Ltd (ASX: YAL).

There’s a lot to like about this All Ordinaries Index (ASX: XAO) coal stock.

On the passive income front, Yancoal has paid out 69.5 cents a share in fully franked dividends over the past 12 months.

At the current Yancoal share price of $6.45, this ASX share trades on a fully franked trailing yield of 10.8%.

The Yancoal share price has also been a stellar performer over this time, up 42% in 12 months.

The ASX coal stock has proven resilient as coal prices tumbled from record highs. For FY 2023, Yancoal reported $7.8 billion in revenue and $1.8 billion in after-tax profit.

And you couldn’t ask for a stronger balance sheet. As of 31 December, the miner held $1.4 billion of cash, a figure that has only increased since then.

Which brings us to our second high-yield ASX share, Woodside Energy Group Ltd (ASX: WDS)

Unlike Yancoal, shares in the S&P/ASX 200 Index (ASX: XJO) oil and gas stock are down 20% over the last 12 months.

But with the company’s three top growth projects on track and largely on budget, I think that retrace offers a potential bargain buying opportunity.

Indeed, with commission activities currently in progress, Woodside’s Sangomar project in Senegal is expected to produce its first oil inside the next few months.

As for that passive income, this high-yield ASX share paid an interim dividend of $1.243 per share on 28 September and a final dividend of 91.7 cents per share on 4 April.

That works out to a full-year dividend payout of $2.16 per share, fully franked.

At the current Woodside share price of $27.30, this ASX share trades on a fully franked trailing yield of 7.9%.

The post 2 high-yield ASX shares I’d buy now for dividends appeared first on The Motley Fool Australia.

More reading

• Buying ASX shares, rentvesting and co-ownership: How young Australians are achieving home ownership
• How the Yancoal share price soared 36% in a year and what to expect next
• Buy the dip: Woodside share price now at ‘attractive entry point’
• These ASX shares could rise 25% to 35%
• 5 things to watch on the ASX 200 on Thursday

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.

Three leading S&P/ASX 300 Index (ASX: XKO) stocks hit the skids this week.

With a bit more than two hours of trading left in the week, the ASX 300 is down 0.8% since last Friday’s closing bell, despite today’s 0.6% intraday gain.

A number of companies underperformed the index of top 300 stocks over the week. However, these three big name ASX 300 shares have earned top spots on the weekly laggard board.

Namely mining giant Fortescue Ltd (ASX: FMG), BNPL stock Zip Co Ltd (ASX: ZIP), and biotech company Mesoblast Ltd (ASX: MSB).

Interestingly, none of the three companies released any price-sensitive information over the week.

Here’s what we do know.

ASX 300 stocks with a week to forget

The Fortescue share price closed last Friday at $26.77. At the time of writing, shares are swapping hands for $24.48, down 8.5%.

The Fortescue share price remains up 27% since this time last year. But the ASX 300 stock is now well into the red for 2024.

This week’s selling pressure looks to have been driven by some gloomy forecasts for China’s steel demand.

Despite increased stimulus measures from China’s government, many analysts believe the nation’s sluggish property sector will continue to struggle, impacting iron ore demand.

Iron ore slipped 2.6% overnight to trade for US$115.85 a tonne.

Commenting on the outlook for iron ore demand earlier this week, ANZ Group Holdings Ltd (ASX: ANZ) noted (courtesy of The Australian Financial Review), “The iron ore market remains unconvinced the recent property support measures in China will be successful in boosting demand.”

ANZ added:

Futures declined for a second day, alongside a sell-off in shares of Chinese property developers. Stockpiles at Chinese ports remain elevated without any signs of a notable drawdown. Steel mills are also still making losses, with margins under pressure amid weak steel prices.

Mesoblast shares also took a tumble this week.

The ASX 300 stock closed last Friday trading for $1.18 a share. In late afternoon trade today, shares are trading for $1.07 apiece, down 9.3%.

There’s no clear reason for this sell-off, other than the mammoth gains posted by the biotech company since it reported on promising communications with the US Food and Drug Administration (FDA) back on 26 March.

At market close last Friday, the Mesoblast share price had rocketed 251.5% since the release of that announcement.

So this week’s sell-down, which still sees the stock up 224.2% since 26 March, is likely nothing more than some profit-taking.

Which brings us to the third falling ASX 300 stock, Zip.

Zip shares closed last Friday trading for $1.21. At the time of writing, shares are changing hands for $1.13 apiece, down 6.4%.

With the Zip share price still up an eye-watering 176.1% over the past six months, I reckon there’s also been a little profit-taking going on here.

The ASX 300 stock could also be catching additional headwinds from the stronger-than-expected inflation figures reported by the Australian Bureau of Statistics (ABS) on Wednesday.

As we’re seeing in the United States, inflation down under is proving to be more resilient than expected. That means investors are bracing for higher rates for longer and potentially even another rate hike.

And BNPL companies like Zip have proven to be very sensitive to higher interest rates.

The post Why these 3 top ASX 300 stocks dragged the benchmark lower this week appeared first on The Motley Fool Australia.

More reading

• Why Core Lithium, Fortescue, Peter Warren, and Talga shares are falling today
• Planning your retirement? Here are the most popular investments outside superannuation
• How much could $10,000 invested in Fortescue shares be worth next year?
• 3 top ASX 300 dividend shares to buy now for $3,000 a month in passive income
• Are Fortescue shares a dividend trap?

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 Zip Co. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

If you want to add some tech sector exposure to your portfolio, then it could be worth check out the three ASX tech shares listed below.

Here’s why these shares have been named as buys:

Life360 Inc (ASX: 360)

The first ASX tech share to look at is location technology company Life360.

It is the company behind the eponymous Life360 app, which is used by millions of families worldwide. And when I say millions, I mean it. The company recently released an update which revealed that its global monthly active users (MAU) increased by 4.9 million during the first quarter to 66.4 million.

This growth impressed analysts at Bell Potter. In response, the broker retained its buy rating with a boosted price target of $17.75.

Tyro Payments Ltd (ASX: TYR)

Another ASX tech share that for investors to look at is Tyro Payments.

This growing payments provider has around 70,000 merchants on its network, making it Australia’s fifth largest merchant acquiring bank by number of terminals in the market. This means Tyro is behind only the big four banks.

Morgans is a fan of the company and highlights its “significant discount to valuation.” It believes this is unwarranted given its belief that “FY24 will show significantly improved business momentum, importantly driven by a much greater focus on lifting overall profitability.”

The broker currently has an add rating and $1.47 price target on its shares.

WiseTech Global Ltd (ASX: WTC)

A third and final ASX tech share that could be a buy for investors right now is WiseTech Global.

It is the logistics solutions company behind the industry leading CargoWise One platform. This platform allows users to execute complex logistics transactions and manage freight operations from a single, easy to use system.

Over the last few years, CargoWise One has become incredibly important to the global logistics industry. So much so, there are more than 17,000 logistics organisations use the company’s software solutions. This includes all of the top 25 global freight forwarders and 45 of the top 50 global third-party logistics providers.

Analysts at UBS are feeling bullish about the company’s outlook. Particularly after a recent investment expanded its addressable market. The broker believes this leaves the company well placed to deliver growth notably ahead of consensus estimates in the coming years.

In light of this, earlier this month, UBS put a buy rating and $112.00 price target on WiseTech Global’s shares.

The post 3 excellent ASX tech shares to buy to supercharge your investment portfolio appeared first on The Motley Fool Australia.

More reading

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• 2 under-the-radar ASX AI shares that look set to jump
• Check out this soaring ASX stock, up 300% in 2 years, with more gains likely to come
• ‘Significant potential’: One unexpected ASX 200 AI share to buy now
• 3 high-quality ASX shares tipped to generate strong returns

Motley Fool contributor James Mickleboro has positions in Life360. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Life360, Tyro Payments, and WiseTech Global. The Motley Fool Australia has positions in and has recommended WiseTech Global. The Motley Fool Australia has recommended Tyro Payments. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Shares of BHP Group Ltd (ASX: BHP) are slipping slightly on Friday following yesterday’s collapse of the miner’s $74 billion bid to acquire Anglo American.

Despite the failed bid, investor reaction has been fairly muted in Friday’s trade. At the time of writing, BHP shares are trading at $44.02, down 0.64% from yesterday’s close of $44.30.

In comparison, the S&P/ASX 200 index (ASX: XJO) is currently up 0.5%.

A quick recap of the deal

The miner announced earlier this year that it was in talks to buy Anglo American. BHP shares have been volatile since.

BHP’s pursuit of Anglo was aimed at significantly boosting its copper assets. But despite three increasingly attractive offers, Anglo’s board rejected each of the ASX share’s proposals.

And despite a one-week extension to negotiate further, Anglo’s board was unconvinced of the benefits of BHP’s latest revised offer. The latest attempt to secure a deal ended yesterday, just before the takeover deadline.

“BHP will not be making a firm offer for Anglo American”, the Australian miner’s CEO Mike Henry said.

“While we believed our proposal for Anglo American was a compelling opportunity, we were unable to address Anglo’s specific concerns, particularly regarding South African regulatory risk and cost,” he added.

What’s next for BHP shares?

With the Anglo American deal off the table for now, investors may be left wondering about what’s next for BHP shares. British regulations prevent BHP from making another offer for at least six months unless a competing bid emerges.

BHP’s interest in Anglo was driven by its strategy to enhance its copper portfolio. Copper is a critical metal in the transition to a greener economy and is in hot demand.

Highlighting this is BHP’s recent acquisition of South Australian copper miner Oz Minerals for $6.4 billion. Some criticised the move for its high price, but recent surges in the copper price have vindicated the decision.

BHP also has a majority stake in the Escondida mine in Chile, the world’s largest copper mine. It is set to showcase the Escondida site later this year, according to the Australian Financial Review.

Other copper assets?

Although BHP now can’t pursue Anglo for six months, it’s unlikely to sit idle. Analysts suggest it might target other copper assets, with South American mines like Antofagasta being potential candidates.

Argonaut’s head of research, Hayden Bairstow, believes BHP’s keen interest in copper will keep it on the lookout for valuable assets and potentially impact its shares.

Speaking to the ABC, Bairstow said: “I don’t think this story is finished by any stretch of the imagination,” highlighting BHP’s long-term strategy to dominate the copper market.

This is something to consider for the outlook on BHP shares going forward, in my view.

Foolish takeaway

The BHP share price has been volatile lately, down 13% year-to-date, as the graph below shows.

BHP’s share price might have dipped due to the failed Anglo American bid, but the miner’s commitment to expanding its copper assets appears unwavering.

As the market watches for BHP’s next strategic move, its focus on future-facing commodities like copper could be promising. Only time will tell.

The post Copper checkers: What’s next for BHP shares after Anglo talks? appeared first on The Motley Fool Australia.

More reading

• Brokers name 3 ASX shares to buy now
• Buying ASX shares, rentvesting and co-ownership: How young Australians are achieving home ownership
• Why BHP, GR Engineering, Novonix, and Pointerra shares are dropping today
• BHP share price tumbles as $74 billion deal evaporates
• 5 things to watch on the ASX 200 on Thursday

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.

Three S&P/ASX 200 Index (ASX: XJO) shares did more than their fair share to help stem the benchmark index’s losses this week.

With less than half a trading session left in the week, the ASX 200 is down 0.8% since last Friday’s closing bell.

The benchmark index is up 0.5% in afternoon trade today and finished up 0.8% on Monday but lost ground on the other three trade days.

However, these three ASX 200 shares managed to gain 4.2%, 6.5% and 9.2% over this same period.

One provides medical imaging technology. Another is a holding company focused on bauxite and alumina. The third is a dairy processor and food manufacturer.

Any guesses?

Keep those in mind as we move on to the big reveal.

Three ASX 200 shares leaping higher this week

First up, we have Alumina Ltd (ASX: AWC).

The Alumina share price closed last Friday at $1.74. At the time of writing, shares are swapping hands for $1.90 apiece, up 9.2%.

With no price sensitive news out from the ASX 200 share this week, investors appear to have been buying the company amid a strong, ongoing increase in global aluminium prices. Aluminium was trading for US$2,621 per tonne last Friday. That same tonne is worth US$2,703 today, up 3.1%.

Aluminium prices are up 16% year to date.

Which brings us to the second ASX 200 share leading the charge higher this week, Bega Cheese Ltd (ASX: BGA).

The Bega Cheese share price closed last Friday at $4.31. In afternoon trade today, shares are changing hands for $4.50 apiece, up 4.2%.

All of those gains, and then some, are being scored today, with Bega Cheese shares up 7.2% in intraday trading.

The last price sensitive announcement from the company was way back in February.

So, I believe today’s big price surge could be based on investor speculations that milk prices may be coming down over the months ahead, reducing the company’s input costs.

Rounding out the list of ASX 200 shares topping the leaderboard this week is Pro Medicus Ltd (ASX: PME).

(Did you guess all three?)

The Pro Medicus share price closed last Friday at $115.70. At the time of writing, shares are changing hands for $123.23, up 6.5%.

Investors have been bidding up the stock since Tuesday when the company announced it had inked five new customer contracts with a combined value of at least $45 million.

The company said the contracts would be fully cloud-deployed. Management expects them to be completed within the next six months.

Likely helping spur interest in the ASX 200 share, CEO Sam Hupert noted, “Despite record new contract signings this year, our pipeline remains strong with a broad range of opportunities both in terms of size and market segments.”

The post Guess which 3 ASX 200 shares are leading the charge higher this week appeared first on The Motley Fool Australia.

More reading

• Can this ASX 200 share still be a buy if it’s ‘one of the world’s most expensive stocks’?
• 5 things to watch on the ASX 200 on Friday
• Here are the top 10 ASX 200 shares today
• Why Catapult, Clarity, Pro Medicus, and Qantas shares are rising today
• Here are the top 10 ASX 200 shares today

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 Pro Medicus. The Motley Fool Australia has recommended Pro Medicus. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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:

BHP Group Ltd (ASX: BHP)

According to a note out of Citi, its analysts have resumed coverage on this mining giant with a buy rating and $48.50 price target. The broker notes that the company’s takeover approach for Anglo American (LSE: AAL) has ended in failure this week. This means that BHP will have to wait six months before being able to revisit a potential deal. While this may be disappointing, the broker isn’t fazed by the news. Particularly given that BHP already offers investors significant exposure to copper through its existing operations. And with Citi believing the market’s estimate for the copper price is too low, this exposure is likely to be great news for the miner’s earnings in the coming years. The BHP share price is trading at $44.01 this afternoon.

Qantas Airways Limited (ASX: QAN)

A note out of Goldman Sachs reveals that its analysts have retained their buy rating and $8.05 price target on this airline operator’s shares. The broker believes that the market is undervaluing Qantas’ shares. It feels that this reflects investors pricing in a trade off between investment (fleet and customer) and capital returns (dividends & buybacks). However, the broker believes that Qantas can return significant capital to shareholders and invest in its fleet without weakening its balance sheet. In light of this, the broker sees its cheap valuation as a buying opportunity. Particularly given that it is expecting the Qantas dividend to return in 2025. The Qantas share price is fetching $6.07 on Friday.

Xero Ltd (ASX: XRO)

Analysts at Goldman Sachs have also retained their conviction buy rating and $164.00 price target on this cloud accounting platform provider’s shares. This follows news that Xero is increasing the price of its UK subscriptions by 7% to 12% effective 12 September 2024. It notes this is consistent with 2023 changes from a quantum and timing perspective. And while this pricing update was somewhat expected following the recent Australian plan changes, the broker views it as another incremental positive for Xero and believes it is very supportive of its FY25/26 revenue forecasts. The Xero share price is trading at $133.11 today.

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

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• 5 things to watch on the ASX 200 on Friday
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Citigroup is an advertising partner of The Ascent, a Motley Fool company. Motley Fool contributor James Mickleboro has positions in Xero. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group and Xero. The Motley Fool Australia has positions in and has recommended Xero. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The APM Human Services International Ltd (ASX: APM) share price is frozen today after the company went into a trading halt prior to the market open.

The international employment services company requested the trading halt pending the release of an update on the non-binding takeover offer it received from Madison Dearborn Partners last month.

APM asked for the trading halt to remain in place until it released an announcement or until the commencement of trading next Tuesday 4 June.

The APM share price closed yesterday’s session at $1.25. APM shares are down 0.79% in the year to date and down 39.6% over the past 12 months.

Let’s find out what’s happening with that takeover offer.

APM share price frozen as investors await news

Last month, APM received a “disappointing offer” of $1.40 per share from United States private equity firm Madison Dearborn Capital Partners (MDP).

MDP already owns 29% of the company and has three directors on the APM board.

The offer was well below an earlier conditional, indicative, non-binding takeover offer of $2 cash per share received from CVC Asia Pacific in February.

CVC originally offered $1.60 per share but revised it upwards. On this basis, APM granted CVC access to its books to undertake due diligence.

However, after CVC completed its due diligence in March, it advised APM it did not want to proceed.

After the CVC deal collapsed, Madison Dearborn put forward its own indicative non-binding offer to buy all the shares it did not own for $1.40 per share via a scheme of arrangement.

That was back on 8 April.

The offer on the table

The proposal included a rollover election for APM shareholders to receive all or part of the
consideration in unlisted shares in MDP.

It also required certain shareholders, including executive chair Megan Wynne and key management personnel, to elect to receive all of their consideration in scrip.

MDP requested a period of due diligence on a non-exclusive basis to finalise its debt financing.

APM told investors it intended to engage with MDP and any other suitors on the horizon.

To this end, it set up an Independent Board Committee (IBC) comprising four independent board directors to lead the negotiations with MDP and any other parties.

The IBC chair, Nev Power, described the $1.40 offer as “disappointing” and said the IBC would strive to achieve “an outcome that is fair and reasonable and in the best interests of all shareholders”.

And that brings us up to date.

Investors haven’t heard anything further about the deal until today’s trading halt request.

But it appears APM will have some news for the market very soon.

APM share price snapshot

The APM share price has fluctuated enormously this year.

On 18 January, APM shares spiralled by just over 40% to a new all-time low of 79 cents. That was after the company released its 1H FY24 trading update.

The price went lower to 68 cents on 23 January. This remains the stock’s 52-week low.

On 19 February, the APM share price leapt 48.2% after news broke of CVC’s original $1.60 per share offer.

The APM share price moved 13.5% higher on 28 February when CVC upped its offer to $2 per share.

APM shares went into a trading halt on 27 March upon news that CVC was walking away.

The company then requested a voluntary suspension from trading and told the market it was in discussions with other parties.

On 8 April, it announced MDP’s offer and was reinstated to trading.

Investors were displeased with the substantially lower per-share price offered compared to the CVC deal, and the APM share price tanked 29.4% to close at $1.15 per share.

APM shares were listed in November 2021 at $3.55. As the chart below shows, it’s been a tough road for investors ever since.

The post APM share price grinds to a halt as investors await update on takeover offer appeared first on The Motley Fool Australia.

More reading

• Guess which 3 ASX 200 shares are leading the charge higher this week
• Brokers name 3 ASX shares to buy now
• An insider just bought $100,000 of Magellan shares: Should you invest too?
• Why Core Lithium, Fortescue, Peter Warren, and Talga shares are falling today
• Can this ASX 200 share still be a buy if it’s ‘one of the world’s most expensive stocks’?

Motley Fool contributor Bronwyn Allen 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 APM Human Services International. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

It can be useful for investors to keep an eye on which shares have experienced meaningful insider buying.

This is because insider buying is often regarded as a bullish indicator.

As few people know a company and its intrinsic value better than its own directors, if they are buying, it suggests that they are confident in the direction the company is heading. They may even believe that their shares are undervalued at current levels.

With that in mind, let’s take a look at one popular ASX 200 share that has just reported significant insider buying.

The share is question is fund manager Magellan Financial Group Ltd (ASX: MFG).

Insider loads up on Magellan shares

With the company’s shares down 22% since mid to late March, it seems that one of its directors feels that this has created a buying opportunity.

According to a change of director’s interest notice, the company’s non-executive director, Cathy Kovacs, has snapped up her first Magellan shares since joining the fund manager in November of last year.

The release reveals that Ms. Kovacs bought 12,400 shares through an on-market trade on 30 May. She paid an average of $8.02 per share, which equates to a total consideration of just a touch under $100,000.

Should you invest?

The broker community remains divided on Magellan’s shares. Though, it is worth noting that analysts appear to be seeing value emerge following recent weakness.

For example, last month analysts at Macquarie put an underperform rating on its shares. Though, its price target of $8.40 is now higher than where its shares currently trade.

Elsewhere, analysts at Morgans only have a hold rating on its shares. But with a price target of $9.67, this implies potential upside of 20% for investors over the next 12 months. In addition, Morgans is forecasting dividends per share of 63 cents in FY 2024 and then 64 cents in FY 2025. This equates to sizeable dividend yields of 7.8% and 8%, respectively.

Finally, analysts at UBS are likely to be supportive of Kovacs’ decision to buy her first Magellan shares. The broker currently has a buy rating and lofty $10.25 price target on the fund manager’s shares. This suggests that they could rise by over 27% from current levels.

If that were to happen, it would value the non-executive director’s holding at $127,100. That certainly would be a great return on investment.

Though, as always, time will tell which brokers make the right call.

The post An insider just bought $100,000 of Magellan shares: Should you invest too? appeared first on The Motley Fool Australia.

More reading

• Magellan share price lifts despite April funds outflow

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 Macquarie Group. The Motley Fool Australia has positions in and has recommended Macquarie Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The S&P/ASX 200 Index (ASX: XJO) is on track to end the week in a positive fashion. In afternoon trade, the benchmark index is up 0.45% to 7,663.1 points.

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

Core Lithium Ltd (ASX: CXO)

The Core Lithium share price is down 3.5% to 13 cents. This is despite there being no news out of the struggling lithium miner on Friday. However, it is worth noting that Goldman Sachs recently tipped the company’s shares to sink a further 15% from where they currently trade to 11 cents. This is despite the Core Lithium share price already losing almost 90% of its value since this time last year.

Fortescue Ltd (ASX: FMG)

The Fortescue share price is down 2% to $24.28. This may have been driven by weakness in the iron ore price overnight. According to CommSec, the iron ore price fell in response to “fears of falling demand in China over the remainder of the year after Beijing reiterated its stance on continuing to control crude steel output in 2024.” In addition, as highlighted in this article, a large number of brokers believe that this mining giant’s shares are severely overvalued at current levels. This could also be weighing on its shares today.

Peter Warren Automotive Holdings Ltd (ASX: PWR)

The Peter Warren Automotive share price is down a further 2.5% to $1.75. This automotive retailer’s shares have been sold off this week after it released disappointing earnings guidance. Although revenue has continued to grow, the company now expects its underlying profit before tax for FY 2024 to be in the range of $52 million to $57 million. This was lower than market expectations and driven by a significant increase in vehicle supply, which has led to greater competition between dealerships and lower gross profit margins on new vehicles. Its shares are now down 17% since this time last week.

Talga Group Ltd (ASX: TLG)

The Talga share price is down over 6% to 61 cents. This follows the completion of a mining study into the expansion options for its Vittangi Graphite Project in Sweden. While the mining study laid out some reasonably big plans for Vittangi, it came with a number of warnings. One was that it will require estimated capital funding in the order of €520 million to €1,100 million (A$848 million to A$1.8 billion) plus contingencies. Management warned investors “that there is no certainty that the Company will be able to raise that amount of funding when needed.”

The post Why Core Lithium, Fortescue, Peter Warren, and Talga shares are falling today appeared first on The Motley Fool Australia.

More reading

• Why is this ASX 300 stock crashing 13% today?
• 3 key reasons to sell Core Lithium shares
• Why Cettire, Neuren, Peter Warren, and Qantas shares are falling today
• Planning your retirement? Here are the most popular investments outside superannuation
• How much could $10,000 invested in Fortescue shares be worth next year?

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 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.