If you’re not against investing in the mining sector and you are looking for some big potential returns for your portfolio, then read on.

That’s because listed below are a couple of ASX 200 mining stocks that have not only been named as buys but tipped to rise 40% to 50% from current levels.

That means that if these analysts are on the money with their recommendations, a $20,000 investment could turn into $28,000 to $30,000.

Let’s see what they are saying about these ASX 200 mining stocks:

Arcadium Lithium (ASX: LTM)

This beaten down lithium miner’s shares could be a bargain buy according to Bell Potter.

The broker currently has a buy rating and $10.40 price target on its shares. This implies potential upside of approximately 53% for investors from where they trade today.

The broker is a big fan of the lithium chemicals company due to its diversified exposure to lithium, growth portfolio, and strong balance sheet. It believes this leaves it perfectly positioned to benefit when the lithium price rout is over. Its analysts explain:

LTM provides the largest, most diversified exposure to lithium in terms of mode of upstream production, asset locations, downstream processing and customer markets. It is a key large-cap leverage to lithium prices and sentiment, which we expect to improve over the medium term. The group has a strong balance sheet and growth portfolio.

Regis Resources Ltd (ASX: RRL)

Another ASX 200 mining stock that has been tipped to rise very strongly is gold miner Regis Resources.

Despite the gold price recently hitting a record high, Regis Resources shares remain closer to their 52-week low than their 52-week high.

Bell Potter also sees this as a buying opportunity for investors, particularly given its growth opportunities, its Australia-based operations, and its M&A appeal. It said:

As one of the largest ASX listed gold producers, we are attracted to its all- Australian asset portfolio and organic growth options which are unique at this scale. Furthermore, we see key opportunities in the fundamental, medium-term outlook and, in our view, these may also make RRL an appealing corporate target in the current conducive M&A environment.

Bell Potter has a buy rating and $2.60 price target on the miner’s shares. If this proves accurate, it will mean a return of approximately 41% over the next 12 months for investors from current levels.

The post These ASX 200 mining stocks could rise 40% to 50% appeared first on The Motley Fool Australia.

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More reading

• Here are the top 10 ASX 200 shares today
• Broker names 2 of the best ASX mining shares to buy (with 40% to 50% upside)
• 5 things to watch on the ASX 200 on Tuesday
• Why are ASX lithium shares being annihilated on Friday?
• 5 things to watch on the ASX 200 on Tuesday

Motley Fool contributor James Mickleboro owns Arcadium Lithium shares. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Fortescue Metals Group Ltd (ASX: FMG) share price is leaping higher on Monday.

Shares in the S&P/ASX 200 Index (ASX: XJO) mining giant closed Friday trading for $24.64. In morning trade shares were swapping hands for $25.96, up 5.4%.

At the time of writing, shares are trading for $25.65, up 4.1% for the day.

The strong performance comes despite a dip in the iron ore price over the weekend, with the industrial metal slipping 1.6% to US$108.05 per tonne.

And the Fortescue share price is racing ahead of rival ASX 200 miners BHP Group Ltd (ASX: BHP) and Rio Tinto Ltd (ASX: RIO). BHP shares are up 0.8% and Rio Tinto shares are up 0.9% at this same time.

This comes following the announcement of a million tonne milestone in Fortescue’s sustainable mining transition.

Fortescue share price charges higher as low emissions mining takes form

Digging up a million tonnes of ore without belching out clouds of diesel smoke?

Yep, that’s what Fortescue has just achieved at its Chichester iron ore operations, located in Western Australia.

In a press release on Friday that could be helping boost the Fortescue share price today, the ASX 200 miner reported its recently deployed electric excavator has now moved one million tonnes of material since going into action.

Initially operating at partial capacity, it’s now full speed ahead for the electric excavator.

Management reported that at times the excavator was performing better than its diesel equivalent. The miner says the focus now is to ensure consistent performance from the machine.

“This is such an exciting milestone for Fortescue and our decarbonisation journey,” CEO Dino Otranto said of the development which may be helping spur the Fortescue share price today.

And there’s more to come.

According to Otranto:

We will have two additional electric excavators commissioned by the end of April. Once we decarbonise our entire fleet, around 95 million litres of diesel will be removed from our operations every year, or more than a quarter of a million tonnes of carbon dioxide equivalent.

The excavator has been running partially off solar and is powered by a 6.6kV substation and more than two kilometres of high-voltage trailing cable. 

Fortescue’s 240-tonne battery electric haul truck prototype, Roadrunner, is also progressing towards full field work.

“Roadrunner recently completed its first phase of testing which exceeded the performance expectations of the battery power system,” Otranto said.

Copper expansion options

Separately, ASX 200 investor interest may have been sparked by Fortescue founder Andrew Forrest’s speculation of pending copper acquisitions.

Speaking in Beijing over the weekend, Forrest told Reuters (courtesy of Mining.com), “The company has choices in front of it … we have a lot of copper options on the table. And when we feel the time is right, we’ll pull the trigger.”

The Fortescue share price is up 26% since this time last year.

The post Fortescue share price leaps 5% as electric machinery makes a milestone appeared first on The Motley Fool Australia.

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More reading

• Here’s how the ASX 200 market sectors stacked up last week
• Are dividends your thing? Then you’ll love these 2 high-yield ASX shares
• Is the worst of the selling now over for ASX iron ore shares?
• I’d spend $5k on these ASX 200 shares today to target a $13,080 passive income
• Forget Fortescue and buy this iron ore share for a 33% return

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

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Commonwealth Bank of Australia (ASX: CBA) shares are having a good start to the week.

At the time of writing, the banking giant’s shares are up almost 1% to $118.43.

This has been driven largely by a positive start to the week for the banking sector.

In addition, there has been a little bit of news out of Australia’s largest bank that may have caught the eye of investors.

What did CBA announce?

This morning, CBA announced that it has expanded its support for innovative sanctions compliance technology by investing in Global Screening Services (GSS).

It is a UK-based RegTech company that specialises in payments screening.

The amount invested has not been revealed. However, CBA advised that it has taken a minority shareholding as part of GSS’s US$47 million Series A2 capital raising.

The release notes that CBA is the RegTech company’s first and only significant Australian investor to date.

What is GSS?

GSS provides sanctions compliance and transaction screening solutions for financial institutions which are designed to reduce process duplication and error rates in the screening process.

It was founded in London in 2021 with the aim of improving effectiveness and efficiency in international payments and creating less friction in payment flows to benefit bank customers.

Commenting on the investment, CBA’s chief risk officer, Nigel Williams, said:

The investment in GSS is part of the bank’s ongoing commitment to innovation to deliver better customer experiences. Following this investment, we are assessing the system for application in international payment flows.

As part of the bank’s investment in GSS, it has been able to appoint an observer to the company’s main board. CBA advised that the bank will be represented by its executive general manager of financial crime compliance, John Fogarty.

Fogarty spoke about how GSS’ technology could improve outcomes for the bank. He commented:

Banks play a critical role in combating financial crime and protecting their customers, the community and integrity of the financial system. We’re excited about the potential of GSS with its global reach and look forward to seeing how CBA can potentially utilise this technology to continue to prevent sanctioned parties from accessing and moving money into or out of Australia, whilst also speeding up the millions of international payments for our customers.

CBA shares deliver market-beating returns

Following today’s gain, CBA shares are now up 24% since this time last year.

Much to the delight of its shareholders, this is approximately double the market return over the same period.

This leaves the bank’s shares trading within sight of their record high.

The post Own CBA shares? Here’s the tech stock the banking giant just invested in appeared first on The Motley Fool Australia.

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More reading

• Better buy: CBA or Westpac stock?
• How I’d generate a $20,000 second income from CBA shares
• 4 ‘overheated’ ASX 200 shares to stay away from
• ASX 200 shares vs term deposits: What $5,000 invested a year ago is worth now
• I wouldn’t touch CBA shares with a 10-foot bargepole!

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

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It’s been a great start to the week for the S&P/ASX 200 Index (ASX: XJO) and most ASX 200 shares so far this Monday. At the time of writing, the ASX 200 has gained a pleasing 0.89% and is back up to around 7,840 points. But let’s talk about a few ASX tech shares that are going the other way.

Not all ASX 200 shares are getting lifted by today’s market goodwill. Take the Block Inc (ASX: SQ2) share price. It’s currently down a chunky 2.64% at $124.76 a share.

It’s been even worse for Life360 Inc (ASX: 360) shareholders. Life360 shares are presently nursing a loss of 3.72% and have fallen to $13.19 a share.

The strange thing is that these two ASX tech shares seem to be outliers, not only on the broader ASX, but in their tech sector. ASX tech shares are, on the whole, having just as good a time as the ASX 200 Index.

Right now, the S&P/ASX 200 Information Technology Index (ASX: XIJ) is up a rosy 1.3%. And other tech stocks like Xero Ltd (ASX: XRO) and WiseTech Global Ltd (ASX: WTC) are enjoying comfortable rises.

So what’s going wrong with these two shares in particular?

Why are these ASX tech shares getting sold off this Monday?

Well, there’s no fresh ASX news out of either of these tech shares this Monday. Or indeed for a while.

However, you might notice that both Life360 and Block have something in common.

Both are US shares with secondary ASX listings. Block’s primary home is the New York Stock Exchange under the Block Inc (NYSE: SQ) listing.

Life360 calls the ASX home, and isn’t listed on the American markets, despite an aborted attempt to establish a Nasdaq listing last year. However, this company is still headquartered and based in the United States.

Last Friday’s trading on the tech-heavy Nasdaq saw many US tech stocks take a haircut. Tech shares like PayPal, Microsoft and Tesla were all down during Friday night’s trading. That also included Block’s US shares.

Block stock crashed a meaningful 3.9% last Friday down to US$80.77 a share. This might have been due to some large sales from institutional investors.

So this probably explains why Block’s ASX listing is suffering today. Both investments represent the same shares of the same company, so what happens on the US markets is almost always the largest deciding factor as to how the ASX shares fare the following session.

Perhaps Life360 investors are just making the company guilty by association here.

So all in all, a good day for most ASX 200 shares today, but not for these two ASX tech outliers.

The post Why are these ASX tech shares getting smashed today? appeared first on The Motley Fool Australia.

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• 4 ASX growth shares I think will benefit from interest rate cuts in 2024
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• Here are the top 10 ASX 200 shares today
• 3 Australian shares quietly crushing the ASX today
• Why Block, Core Lithium, Fisher & Paykel Healthcare, and Virgin Money are rising today

Motley Fool contributor Sebastian Bowen has positions in Microsoft, PayPal and Tesla. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Block, Life360, Microsoft, PayPal, Tesla, WiseTech Global, and Xero. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended the following options: long January 2026 $395 calls on Microsoft, short January 2026 $405 calls on Microsoft, and short March 2024 $67.50 calls on PayPal. The Motley Fool Australia has positions in and has recommended Block, WiseTech Global, and Xero. The Motley Fool Australia has recommended PayPal. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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I’m always on the lookout for attractive ASX dividend shares that can pay large dividend yields. Businesses with smaller market capitalisations can be very appealing because they may be able to deliver relatively stronger growth over time than businesses that are already large.

I believe the two stocks I’m going to talk about are capable of paying much larger dividends in future years.

Bailador Technology Investments Ltd (ASX: BTI)

This business describes itself as a growth fund that invests in technology businesses. It targets unlisted companies at the expansion stage with global addressable markets.

Ideally, those target companies are run by the founders, have a proven business model with attractive unit economics, international revenue generation and the ability to generate repeat revenue.

Its portfolio can regularly change, but I’ll tell you about what the ASX dividend share’s four largest holdings do. Siteminder Ltd (ASX: SDR) is a world leader in hotel channel management and distribution solutions for online accommodation bookings.

Rezdy, which is now called RC TopCo after a merger, is an online channel manager and booking software platform for tours and activities.

Access Telehealth is a telehealth platform that “connects Australian communities to high-quality healthcare”.

Rosterfy provides a volunteer management software platform that connects communities to events.

The ASX dividend share targets a dividend yield of 4% of its pre-tax net tangible assets (NTA). However, the Bailador share price is currently trading at a discount of around 27% compared to its February 2024 pre-tax NTA.

If Bailador’s NTA stayed the same for the next 12 months, then the (fully franked) dividend yield would be 5.4% and the grossed-up dividend yield would be 7.8%. If the ASX dividend share’s portfolio increases in value, then the dividend can increase.

Universal Store Holdings Ltd (ASX: UNI)

Universal Store is a retailer focused on selling premium fashion to younger Aussies. Its main store network is Universal Store and it operates the business CTC (trading under the THRILLS and Worship brands). The company is also rolling out Perfect Stranger as a standalone retail format. It has a total of more than 100 stores.

While like for like store sales have been challenged for the existing store network in the current environment, it has added enough new stores to keep growing its overall sales and profit. FY24 first half-year total sales rose 8.5% and statutory net profit after tax (NPAT) grew 16.7%.

The fact that it has been able to grow in this period is impressive. It has been able to grow its dividend every year since it started paying cash to shareholders in 2021. HY24 saw the interim dividend hiked by around 18% to 16.5 cents per share.

The first seven weeks of the second half of FY24 saw Universal Store sales had grown 4.5%, with like for like sales growth of 1%, with Perfect Stranger sales up 56.5% (and like for like sales growth of 10.3%).

According to the estimates on CMC Markets, the company could pay an annual dividend per share of 24.8 cents in FY24 and 31.1 cents in FY26. That translates into a grossed-up dividend yield of 6.7% in FY24 and 8.4% in FY26.

The post These are my top high-yield ASX dividend share buys right now appeared first on The Motley Fool Australia.

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More reading

• 3 ASX dividend shares to buy for a passive income boost
• I think these ASX stocks are bargain buys after reporting season
• 3 ASX dividend shares to buy with ~5% yields for an income boost
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• Key takeouts for ASX shares this earnings season: CBA analysis

Motley Fool contributor Tristan Harrison has positions in Bailador Technology Investments. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Bailador Technology Investments and SiteMinder. The Motley Fool Australia has positions in and has recommended SiteMinder. The Motley Fool Australia has recommended Bailador Technology Investments. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The ASX stock GQG Partners Inc (ASX: GQG) has been a great performer. Since the start of 2024, the GQG share price has gone up by 32%. I’m going to tell you why I still think it’s a buy.

This business is a fund manager, one of the largest on the ASX. It’s also one of the few to be receiving strong net inflows from investors allocating more money to GQG.

The amount of funds under management (FUM) GQG manages plays an important part in the company’s profitability. GQG hardly charges performance fees across its different funds, so growth in FUM can directly lead to growth in revenue and profit.

In fact, when FUM rises, profit can rise faster than revenue for a fund manager. It doesn’t take 10% more employees or a 10% bigger office to manage 10% more funds. In the recently reported FY23 result, net revenue rose 18.5% to US$517.6 million, and diluted earnings per share (EPS) grew 19% to US 9.55 cents.

Positive ongoing FUM growth

The average FUM for FY23 was US$101.9 billion and it finished December 2023 with FUM of US$120.6 billion.

The ASX stock recently revealed its February 2024 FUM, which showed it had reached US$137.5 billion. In other words, FUM has grown by 14% in 2024 to date and it’s 35% higher than the average FUM of FY23.

Part of the growth has been due to strong performance by the investment funds. Net inflows continue to be strong. In the first two months of FY24, it experienced net inflows of US$3 billion. I think there’s a good likelihood that the appealing inflows can continue.

Of course, a large fall of the stock market could hurt the ASX stock’s FUM in the short term, but I think that risk is reflected in the low price/earnings (P/E) ratio. It’s valued at around 15 times FY23’s earnings, and remember the FUM has grown significantly since then.

Private capital business can boost the ASX stock

The core business is going strong, and GQG recently announced it has launched GQG Private Capital Solutions, which it described as its “first foray” into private markets.

It bought minority interests in the fund managers of Avante Capital Partners, Proterra Investment Partners and Cordillera Investment Partners for US$71.25 million.

GQG is going to offer a broad range of financing and strategic solutions to mid-market private capital asset management outfits.

This new business will operate independently from GQG’s traditional global equities business but in synergy with its global distribution network.

I think this is an appealing diversification of earnings, and opens up more growth for GQG.

Foolish takeaway

According to the projection on Commsec, GQG is forecast to pay a dividend yield of more than 8% in FY24. I think this is a very good yield, and we can benefit from pleasing cash returns while holding for the longer term and hopefully seeing more growth.

I think this ASX stock is one of several with a very promising future.

The post This ASX stock has jumped 32% this year, I think it can keep soaring appeared first on The Motley Fool Australia.

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• 4 ASX growth shares I think will benefit from interest rate cuts in 2024
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Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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ANZ Group Holdings Ltd (ASX: ANZ) shares are starting the week positively.

In morning trade, the banking giant’s shares are up almost 1% to $29.29.

Why are ANZ shares rising?

There are a couple of reasons why the bank’s shares are pushing higher on Monday.

The first is that the banking sector is having a particularly positive start to the week. This has seen all the big four and regionals rise this morning, driving the S&P/ASX 200 Financials sector higher.

In addition, there was some news out of ANZ today that may have given its shares a boost.

What did ANZ announce?

This morning, ANZ announced that it has reached an agreement to settle a class action brought against it by Phi Finney McDonald in 2021.

This class action relates to certain interest charged on some ANZ personal credit cards in the period from 1 July 2010 to 1 January 2019.

As a reminder, the claim alleged that ANZ charged interest to customers retrospectively on credit card purchases that previously had the benefit of an interest-free period.

The claim further alleged that ANZ did not provide transparent instructions to its interest-free credit card customers of the manner in which it charged retrospective interest and that customers had no ability to determine the amount they would pay.

According to the announcement, ANZ has agreed to pay $57.5 million to settle the claim.

The good news is that this amount is fully covered by a provision that was held at 30 September 2023.

ANZ also advised that the “settlement is without admission of liability and remains subject to court approval.”

Following today’s gain, ANZ’s shares are now up an impressive 30% over the last 12 months. To put that into context, a $20,000 investment a year ago would now be worth approximately $26,000. And that doesn’t include the dividends the bank has paid to its shareholders over the period.

The post ANZ shares charge higher on $57.5 million class action settlement news appeared first on The Motley Fool Australia.

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• Here’s the ANZ dividend forecast through to 2026
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• If I’d put $5,000 in ANZ shares at the start of 2024, here’s what I’d have now
• How I’d invest $20k to target $1,400 a year from ASX dividend shares

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

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I like investments that have the building blocks to deliver a mixture of both capital growth and dividends over time. The S&P/ASX 200 Index (ASX: XJO) dividend stock Brickworks Limited (ASX: BKW) is one of those investments in my opinion.

There are a few different segments to the Brickworks business – it has an investments segment that is delivering long-term capital growth and dividend growth itself. Brickworks has an Australian building products division, a North American building product division and an industrial property division.

It recently reported its FY24 first-half result, which was heavily impacted by lower property valuations due to higher interest rates and lower property development profits.

Brickworks reported a statutory net loss after tax of $52 million, which was a decline of 115% because of a $249 million hit relating to property revaluations and sales.

Strong underlying performance

This period has shown me the strength of the core building products businesses. They have strong pricing power and have unlocked impressive efficiencies. Both the Australian and US building product divisions achieved growth of earnings before interest, tax, depreciation and amortisation (EBITDA).

Demand for building products may reduce in the short-term because of the headwinds for the economy, but Brickworks plans to use this time for maintenance activities.

The ASX 200 dividend stock can’t control property prices, but it’s seeing excellent gross rental income growth – HY24 saw a 17% increase of rental income to $81 million. Despite a 47% increase in borrowing and other costs to $31 million, the net trust income rose 4% to $51 million, with Brickworks having a 50% share of that.

Why I think the ASX 200 dividend stock is a buy

Despite the hit caused by higher interest rates, the business has a very impressive asset base, which I think the market is undervaluing. That includes the value of its listed investments, the property trust net tangible assets (NTA), the building product segments’ NTA, the market value of development land, and the net debt.

Brickworks showed that, as of 31 January 2024, its underlying value per share was $36.68. However, its share price is currently at a 25% discount to this. I think that represents a very appealing valuation.

The ASX 200 dividend stock said that once fully developed, the rental potential of the property trust could reach $340 million, compared to the current annualised rent of the portfolio, which is $172 million. It could take five years before the Oakdale East stage 2 is finished, and it may take a while for the lease renewals and review to flow through.

To me, it seems there is very strong rental growth in line for Brickworks, which can fund bigger dividends.

Brickworks has increased its interim dividend for ten years in a row and it has been 48 years since the last time the full-year normal dividend was decreased. Using the last two declared dividends, it offers a grossed-up dividend yield of 3.4%.

After a 10% fall of the Brickworks share price since 8 March 2024, I think this could be an appealing time to pounce.

The post This ASX 200 dividend stock looks like a top buy to me appeared first on The Motley Fool Australia.

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Motley Fool contributor Tristan Harrison has positions in Brickworks. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Brickworks. The Motley Fool Australia has positions in and has recommended Brickworks. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The S&P/ASX 300 Index (ASX: XKO) is off to a strong start today, and this ASX 300 stock is doing plenty of the heavy lifting.

At the time of writing on Monday morning, the ASX 300 is up a healthy 0.7%, while shares in this marine-related services provider are up 10.0%, trading for $2.585 apiece.

Any guesses?

If you said MMA Offshore Ltd (ASX: MRM) give yourself a virtual gold star.

Here’s why investors are sending MMA Offshore shares soaring.

ASX 300 stock rockets on takeover offer

ASX investors are snapping up MMA Offshore shares after the company announced it has entered into a binding scheme implementation deed with Cyan MMA Holdings for the proposed acquisition of all the ASX 300 stock’s shares via a scheme of arrangement.

Cyan is owned by Seraya Partners, an infrastructure fund focused on energy transition and digital infrastructure.

Under the proposed acquisition, shareholders will receive $2.60 cash per MMA Offshore share. That’s 10.6% above Friday’s closing price of $2.35 a share. And it values the ASX 300 stock on a fully diluted basis at approximately $1.03 billion.

Cyan said it plans to keep MMA Offshore’s workforce and to expand further into offshore wind support services. Cyan also intends to continue offering marine and subsea services to existing clients in the offshore energy and broader maritime industries.

Commenting on the takeover offer sending the ASX 300 stock rocketing today, MMA Offshore chairman Ian Macliver said, “We have been in discussions with Cyan since October 2023 and the board has now reached the required level of confidence to enter into the scheme implementation deed.”

Macliver added:

We believe Cyan’s offer provides compelling value for MMA today, representing a 31% premium to the 90- day volume weighted average share price, a 91% premium to the company’s net tangible asset value and a 7.7x earnings multiple based on annualised first half FY24 EBITDA.

The MMA Offshore board unanimously recommends shareholders vote in favour of the scheme at the scheme meeting, barring a superior proposal.

MMA Offshore share price snapshot

It’s been a great year for MMA Offshore shareholders, with the ASX 300 stock now up 137% over 12 months.

The post Guess which ASX 300 stock is rocketing 10% on a $985 billion cash bid! appeared first on The Motley Fool Australia.

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

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The illustrious ASX 50 index is home to 50 of the largest listed companies on the Australian share market.

While there are a number of quality options on offer in the index, two that could be in the buy zone according to analysts at Morgans are listed below.

Here’s why the broker believes these ASX 50 shares are best buys:

CSL Ltd (ASX: CSL)

Morgans remains very positive on this biotechnology giant and continues to see it as a top option for investors. Particularly after its shares underperformed in recent times. It commented:

While shares have struggled of late, we continue to view CSL as a key portfolio holding and sector pick, offering double-digit recovery in earnings growth as plasma collections increase, new products get approved and influenza vaccine uptake increases around ongoing concerns about respiratory viruses, with shares trading at 25x, a substantial discount (20%) to its long-term average.

Morgans has an add rating and $315.40 price target on its shares. This implies potential upside of almost 12% for investors.

Woodside Energy Group Ltd (ASX: WDS)

Another ASX 50 share that has been given the thumbs up by analysts at Morgans is energy giant Woodside.

Its analysts are positive on the company due to its attractive valuation, healthy balance sheet, and the progress it is making with its current capex phase. It commented:

A tier 1 upstream oil and gas operator with high-quality earnings that we see as likely to continue pursuing an opportunistic acquisition strategy. WDS’s share price has been under pressure in recent months from a combination of oil price volatility and approval issues at Scarborough, its key offshore growth project.

With both of those factors now having moderated, with the pullback in oil prices moderating and work at Scarborough back underway, we see now as a good time to add to positions. Increasing our conviction in our call is the progress WDS is making through the current capex phase, while maintaining a healthy balance sheet and healthy dividend profile. WDS still has to address long-term issues in its fundamentals (such as declining production from key projects NWS/Pluto), but will still generate substantial high-quality earnings for years to come.

Morgans has an add rating and $34.20 price target on its shares. This suggests potential upside of 14% for investors. In addition, the broker is forecasting a 4.5% dividend yield in FY 2024, boosting the total potential return beyond 18%.

The post 2 of the best ASX 50 shares to buy now appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has positions in CSL and Woodside Energy Group. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended CSL. The Motley Fool Australia has recommended CSL. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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