Looking for a passive income boost? Then you may want to check out the ASX dividend shares listed below.

Both have been named as buys and tipped to provide investors with attractive fully franked yields. Here’s what you need to know about them:

Accent Group Ltd (ASX: AX1)

The first ASX dividend share that has been tipped as a buy is Accent. It is the fashion and footwear retailer behind brands including Hype DC, The Athlete’s Foot, Glue, Platypus, and Sneaker Lab.

Goldman Sachs is very positive on the company and believes it is well-placed to continue its strong performance despite the cost of living crisis. This is thanks to its expansion plans and its exposure to younger consumers, which have less exposure to rising rates. The latter also stand to benefit from increases to the minimum wage.

It currently has a buy rating and $3.10 price target on its shares.

As for dividends, Goldman is forecasting a fully franked dividend of 15 cents per share in FY 2023 and then 7 cents per share in FY 2024. Based on the current Accent share price of $2.55, this will mean yields of 5.9% and 2.75%, respectively.

Dicker Data Ltd (ASX: DDR)

Another ASX dividend share that has been tipped as a buy is Dicker Data. It is a leading technology hardware, software, cloud, cybersecurity, access control and surveillance distributor in Australia and New Zealand.

Morgan Stanley is bullish on the company. It currently has an outperform rating and $10.00 price target on its shares.

The broker appears to believe Dicker Data is well-placed for growth in the coming years thanks partly to favourable tailwinds. This includes the digital transformation megatrend.

The broker is expecting this to lead to fully franked dividends per share of 43.8 cents in FY 2023 and 48.8 cents in FY 2024. Based on the latest Dicker Data share price of $8.39, this will mean yields of 5.2% and 5.8%, respectively.

The post Get a passive income boost from these ASX dividend shares: analysts appeared first on The Motley Fool Australia.

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More reading

• 5 steps to bring in $1,000 per month in passive income
• After big falls, these ASX 300 shares look dirt-cheap!
• The Accent share price has soared 100% in 6 months. Is it still a buy?
• Creating a diversified income stream: Top ASX dividend shares to buy today according to analysts
• Leading brokers name 3 ASX shares to buy today

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 Dicker Data. The Motley Fool Australia has positions in and has recommended Dicker Data. The Motley Fool Australia has recommended Accent Group. 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 Wesfarmers Ltd (ASX: WES) share price continued its positive run on Monday with another gain.

This saw the conglomerate’s shares climb to a new 52-week high of $52.39 at one stage.

When the Wesfarmers share price reached that level, it was up approximately 14% year to date. This compares very favourably to the ASX 200 index, which is up a more modest 5% in 2023.

Why is the Wesfarmers share price on fire right now?

Investors have been buying the Bunnings and Kmart owner’s shares this year for a few reasons.

One is its defensive qualities in the current uncertain economic environment. Given how its businesses tend to perform well whatever is happening in the economy, Wesfarmers is often seen as a safe option for investors.

This is perhaps more the case than ever thanks to its focus on value. This could prove particularly important as budgets get squeezed from the cost of living crisis.

Another reason could be news that the company has been selling down its Coles Group Ltd (ASX: COL) stake. Wesfarmers is understood to have sold what’s left of its stake for approximately $700 million.

This gives it some serious firepower to make a new acquisition. Though, it is unclear what the company might have its eyes on.

Anything else?

A couple of bullish broker notes are likely to have also given the Wesfarmers share price a lift this year.

For example, both Morgans and UBS have put the equivalent of buy ratings and $55.50 price targets on its shares.

This even suggests there’s still room for its shares to rise a bit further from here. So don’t be surprised if the Wesfarmers share price finds itself trading at a new 52-week high in the near future!

The post Why did the Wesfarmers share price just smash a new 52-week high? appeared first on The Motley Fool Australia.

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More reading

• 5 steps to bring in $1,000 per month in passive income
• Wesfarmers’ CEO just offloaded $9m of the ASX 200 company’s shares. Here’s why
• What’s next for Wesfarmers shares after cashing out $700 million from Coles?
• Which ‘high conviction’ ASX 200 shares is this fundie backing to beat the market?
• Morgans names more of the best ASX 200 dividend shares to buy in April

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 positions in and has recommended Coles Group and Wesfarmers. 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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If you’re looking for an easy way to invest your hard-earned money this week, then exchange traded funds (ETFs) could be the way to do it.

But which ETFs might be top options right now? Listed below are three quality ETFs that could be worth considering in April:

iShares Global Consumer Staples ETF (ASX: IXI)

The first ETF for investors to look at is the iShares Global Consumer Staples ETF. It could be a top option if you’re concerned with how interest rates will impact global economic growth. That’s because even if a recession were to occur, the companies included in this ETF are likely to remain well-placed to navigate the crisis. This is due to the ETF giving investors exposure to many of the world’s largest global consumer staples and demand for their products being relatively consistent whatever is happening in the economy. Coca-Cola, Nestle, PepsiCo, Procter & Gamble, Unilever, and Walmart all feature in the ETF.

VanEck Vectors Morningstar Wide Moat ETF (ASX: MOAT)

If you are a fan of Warren Buffett’s investment style, then the VanEck Vectors Morningstar Wide Moat ETF could be worth considering. That’s because when Buffett looks for an investment, he has a penchant for companies with sustainable competitive advantages and fair valuations. And these are the qualities that this ETF has been built around. It currently includes approximately 50 companies including Alphabet, Boeing, Kellogg Co, Meta Platforms, and Walt Disney.

Vanguard MSCI Index International Shares ETF (ASX: VGS)

A final ETF for investors to look at is the Vanguard MSCI Index International Shares ETF. If you’re wanting to diversify your portfolio quickly, then this ETF could be the way to do it. That’s because it gives investors access to approximately 1,500 of the world’s largest listed companies. This means it provides significant diversity and also allows investors to take part in the long term growth potential of international economies. Among the its largest holdings are giants including Amazon, Apple, Nestle, Procter & Gamble, Tesla, and Visa.

The post 3 ETFs that could be top buys right now appeared first on The Motley Fool Australia.

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More reading

• 3 ASX ETFs I’d buy and hold for 10 years
• 2 of the best ETFs for ASX investors to buy this month
• Top defensive ASX shares to buy in April 2023
• Here are 3 fantastic ETFs for ASX investors to buy and hold this month
• Top ASX ETFs to buy in April 2023

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 Vanguard Msci Index International Shares ETF. The Motley Fool Australia has positions in and has recommended iShares International Equity ETFs – iShares Global Consumer Staples ETF. The Motley Fool Australia has recommended VanEck Morningstar Wide Moat ETF and Vanguard Msci Index International Shares ETF. 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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BHP Group Ltd (ASX: BHP) shares offer investors more than the potential for price appreciation.

As a leading S&P/ASX 200 Index (ASX: XJO) dividend stock, BHP shares also offer a great path towards building a regular passive income stream.

And if you’re like me, you certainly won’t object to dividend payments dropping into your bank account on a bi-annual basis.

Especially, fully franked dividends, which can come with some useful tax benefits at the end of each financial year.

A few points before moving on

Before digging into investing in BHP shares for passive income, a few points for clarity.

First, there are a number of high-quality ASX 200 dividend shares out there to choose from.

To reduce risk, investors looking to secure passive income from dividends would do well to build a portfolio of those stocks across different sectors, rather than investing everything in a single company. The old ‘all your eggs in one basket’ mistake.

Second, when we’re discussing dividend yields we’re discussing trailing yields based on the past 12 months of payouts. The dividends that BHP shares (or any ASX company’s shares) pay in future may well be higher or lower than what was paid over the past 12 months.

Third, the ASX 200 mining giant operates in a cyclical market, generating most of its revenue from iron ore and copper.

Some years, like the past few, will see BHP outperform amid rocketing commodity prices. In other years it may underperform when commodities come off the boil.

But, as long-term investors seeking to build a lifetime passive income stream, we can look past those ups and downs and forward to our eventual retirement with some handy dividend payouts to sweeten the pot.

With that said…

BHP shares for passive income?

BHP shares have a long track record of paying out two fully franked dividends per year. Even in the pandemic addled year of 2020.

The miner’s final dividend notched all-time highs in 2021. And its interim dividend set a new record high in 2022.

Now those payouts are coming down from the stratosphere amid a retrace in copper and iron ore prices. But both metals remain key for global growth. Copper is vital in the world’s push towards electrification. And iron ore is a core steel-making ingredient.

Whatever happens to those prices in the near and mid-term, BHP shares will almost certainly benefit when the metals surge higher again in the future.

With that said, both iron ore and copper are still trading at historically high levels. Iron ore is fetching right around US$120 per tonne and copper is above US$9,020 per tonne.

The copper price is growing more important to dividend payments from BHP shares as the miner moves closer to acquiring copper producer OZ Minerals Limited (ASX: OZL) for some $9.8 billion.

As for dividends, BHP paid a final dividend of $2.55 per share on 22 September. That was down from $2.72 per share in September 2021.

BHP recently paid an interim dividend of $1.36 per share on 30 March. That was down from $2.08 per share in March 2022.

With BHP shares currently trading for $46.55, the total 12-month dividend payout of $3.91 works out to a trailing yield of 8.4%.

BHP also offers a dividend reinvestment plan (DRP) for interested investors. If you don’t need the passive income right away, this can be a great way to put the power of compounding to work for you.

And don’t forget, BHP has already stumped up 30% in corporate taxes on the profits it’s sharing out with investors. Meaning you’ll get credit for that from the ATO, helping bolster that passive income.

The post Hunting for passive income? Here’s why I’m eyeing BHP shares appeared first on The Motley Fool Australia.

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More reading

• 3 ASX 200 shares trading ex-dividend this week
• No signs of OZ Minerals slowing down as BHP takeover looms
• Is the BHP dividend going to increase in the future?
• BHP share price lower despite OZ Minerals’ shareholders approving takeover
• 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.

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The S&P/ASX 200 Index (ASX: XJO) spent the day in the green on Monday, rising 0.27% to close at 7,381.5 points.

That was despite a disappointing Friday session on Wall Street. The Dow Jones Industrial Average Index (DJX: .DJI) ended last week with a 0.4% fall, while the S&P 500 Index (SP: .INX) fell 0.2% and the Nasdaq Composite Index (NASDAQ: .IXIC) dropped 0.4%.

Back home, the S&P/ASX 200 Real Estate Index (ASX: XRE) led the way today, rising 1.3%.

The S&P/ASX 200 Consumer Discretionary Index (ASX: XDJ) and the S&P/ASX 200 Information Technology Index (ASX: XIJ) also posted gains, each lifting 0.7%.

The mining sector, on the other hand, underperformed. The S&P/ASX 200 Materials Index (ASX: XMJ) traded relatively flat, rising just 0.1%. Meanwhile, the S&P/ASX 200 Energy Index (ASX: XEJ) slumped 0.3%.

But which ASX 200 share started the week out on the best foot? Let’s take a look.

Top 10 ASX 200 shares countdown

The Lake Resources N.L. (ASX: LKE) share price outperformed all its ASX 200 peers on Monday, rising 18% to close at 54.5 cents.

Its gain came on the announcement of a “major milestone” at the company’s Kachi project, where 2,500 kilograms of lithium carbonate equivalents have been produced.

These shares made today’s biggest gains:

ASX-listed company	Share price	Price change
Lake Resources N.L. (ASX: LKE)	$0.545	18.48%
Sayona Mining Ltd (ASX: SYA)	$0.215	10.26%
Star Entertainment Group Ltd (ASX: SGR)	$1.395	4.89%
Imugene Limited (ASX: IMU)	$0.14	3.7%
Centuria Capital Group (ASX: CNI)	$1.69	3.36%
IPH Ltd (ASX: IPH)	$8.02	3.35%
Johns Lyng Group Ltd (ASX: JLG)	$6.73	2.59%
Megaport Ltd (ASX: MP1)	$4.41	2.56%
Scentre Group (ASX: SCG)	$2.81	2.55%
Insignia Financial Ltd (ASX: IFL)	$2.94	2.44%

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.

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• Why EML, Lake Resources, Lindsay, and Sayona Mining shares are racing higher
• Here are the 3 most heavily traded ASX 200 shares on Monday
• What can ASX 200 investors expect from the US Fed in 2023?
• If I’d invested $1,000 in Liontown shares at the start of 2023, here’s what I’d have now
• Here’s why Bank of Queensland shares are making news again this week

Motley Fool contributor Brooke Cooper 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 Johns Lyng Group and Megaport. The Motley Fool Australia has recommended IPH, Johns Lyng Group, and Megaport. 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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2023 has been a volatile but still overall positive year for ASX 200 shares and the S&P/ASX 200 Index (ASX: XJO). Year to date, the ASX 200 remains up by a healthy 6.13%, thanks mostly to the convincing rally it has enjoyed over the past month or so.

But let’s talk about one ASX 200 tech stock that has smashed the broader market by more than six-fold.

It’s WiseTech Global Ltd (ASX: WTC), yes, the company that put the W in WAAAX back when that was a thing.

Unlike its old WAAAX peers, the WiseTech share price has gone from strength to strength this year so far, as you can see below:

Yes, WiseTech started 2023 at $49.17 a share. But today, the company closed at $67.86, up 1.15% at the end of trading today. That puts this logistics company at a year-to-date gain of 38%. Not bad for three-and-a-half months.

WiseTech shareholders clearly don’t need too much more good news. But they’ve got it anyway. In addition to these stellar gains over 2023 so far, WiseTech has, just today, hit a fresh new all-time record high. Just before midday, the WiseTech Global share price touched $68.89 a share – the company’s new high watermark.

Why is ASX 200 tech stock WiseTech at a new record high today?

There hasn’t been much news out of WiseTech that might explain why investors have sent the company up to a new record high today. However, WiseTech did report some very impressive numbers back in its half-year earnings announcement in February.

As we covered at the time, WiseTech posted revenue growth of 35%, while underlying net profits after tax (NPAT) surged 40% to $108.5 million.

That might be more than enough to give investors some long-term optimism here.

But WiseTech has also been the recipient of some love from ASX brokers recently too. Just last week, we covered ASX broker Ord Minnet’s views on the logistics company.

Ord Minnet recently gave WiseTech an accumulate rating, with a 12-month share price target of $90. If that came to pass, it would mean another 32.7% in upside from the current levels. So that also might be driving investors towards buying WiseTech shares right now.

Overall, it has been a phenomenal year for the WiseTech share price and one that has no doubt delighted shareholders. Let’s see where this ASX 200 tech stock is headed next.

 

The post This ASX 200 tech stock is up almost 40% in 2023 and has just hit an all-time high appeared first on The Motley Fool Australia.

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• Analysts say these 3 blockbuster ASX 200 growth shares are buys
• Which ‘high conviction’ ASX 200 shares is this fundie backing to beat the market?
• Want growth and passive income? Here are the ASX shares I’d buy for the best of both worlds
• 5 things to watch on the ASX 200 on Thursday
• 7 ASX 200 stocks smashing new 52-week highs on Monday

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 WiseTech Global. The Motley Fool Australia has positions in and has recommended WiseTech Global. 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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With so many shares to choose from on the ASX, it can be hard to decide which ones to buy. The good news is that brokers across the country are doing a lot of the hard work for you.

Three top ASX shares that leading brokers have named as buys this week are listed below. Here’s why they are bullish on them:

Corporate Travel Management Ltd (ASX: CTD)

According to a note out of Goldman Sachs, its analysts have retained their buy rating on this corporate travel booker’s shares with an improved price target of $22.60. Goldman was pleased with the company’s contract win from the UK government and has boosted its earnings estimates to reflect it. The broker now expects an EBITDA compound annual growth rate of 75% between FY 2022 and FY 2025. The Corporate Travel Management share price is trading at $21.35 today.

QBE Insurance Group Ltd (ASX: QBE)

A note out of UBS reveals that its analysts have retained their buy rating and $18.00 price target on this insurance giant’s shares. While the broker has been forced to reduce its earnings estimates to reflect higher motor claims, it expects most of the damage to be offset by strong premium prices. Overall, the broker remains very positive and sees plenty of value in its shares at the current level. The QBE share price is fetching $14.78 on Monday.

Whitehaven Coal Ltd (ASX: WHC)

Analysts at Morgans have retained their add rating but trimmed their price target on this coal miner’s shares slightly to $9.85. While the broker believes that persistent labour issues are likely to drag on its performance into FY 2024, it feels these issues are more than priced-in. In addition, the broker highlights that the current uptick in spot NEWC prices and in energy market sentiment could be the first ingredient to a re-rating. The Whitehaven Coal share price is trading at $6.83 today.

The post Leading brokers name 3 ASX shares to buy today appeared first on The Motley Fool Australia.

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• Passive income in Australia: How I’d invest in ASX 200 shares to easily earn $20 per day
• Brokers name 3 ASX shares to buy now
• 11 times your money? Yes, it’s possible (we did it)
• 5 things to watch on the ASX 200 on Friday
• Here are the top 10 ASX 200 shares today

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 recommended Corporate Travel Management. 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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Considering starting a side hustle or putting in overtime for extra cash? You’re not alone. However, I’d prefer my second income to be passive – and ASX dividend shares can help me build it.

Here’s how I’d approach investing on the ASX with $10 a day and a goal to create a long-term income stream.

Turning $10 a day into a second income

Putting aside $10 a day is a powerful wealth-building habit. Over the course of a year, a daily $10 saving grows to become a $3,650 next egg.

That’s more than enough to kick-start my plan to create a second income.

Identifying ASX dividend shares to buy

Step two is likely to be the most daunting for new investors – buying ASX dividend shares. But it needn’t be difficult or confusing.

Shares are basically a piece of a company, and dividends are essentially spare cash that that company hands out to its investors.

So, if I were searching for dividend shares, I would be looking for a company that has the potential to earn consistent profits now and into the future.

And that means I’d be looking for a company (or companies) that offer in-demand products or services and boast competitive advantages over their peers.  

For instance, people have to eat. As a result, demand for supermarkets will always exist. So, Woolworths Group Ltd (ASX: WOW) probably won’t struggle for revenue any time soon.

Another example: those working in the healthcare industry will always need protective gloves. As a result, glove manufacturer and supplier Ansell Limited (ASX: ANN) will likely always realise an income.

I’d also take a good look at a company’s balance sheet. If it has substantial debts, I’d likely assume a fair chunk of its revenue will go towards servicing loans instead of into the pockets of shareholders.

Valuing dividend champions

But finding a business capable of long-term profits isn’t enough. I’d also want to buy it at a decent price.

Buying shares in a good company for more than they’re worth can make for a bad investment.

Not to mention the cheaper one buys a quality company, the better the dividend yield can be expected to be. A company’s dividend yield compares its share price against the amount it pays out annually.

There are plenty of ways to determine if a company is trading at an attractive price. Some simple methods include working out its price-to-earnings (P/E) ratio or price-to-book (P/B) ratio. All the information one needs to calculate these ratios can be found in a company’s financial reports.

Growing my second income

If I were to invest $3,650 in ASX shares capable of providing a healthy 5% dividend yield, I could realise $182.50 of passive income in my first year.

That’s probably nothing to write home about. However, by consistently setting aside $10 a day to invest, I would expect the passive income offered by my portfolio to grow alongside its value.

And if I didn’t need the extra cash, I’d use it to buy more shares. That way I could compound any gains I realise.

Though, it’s important to remember that there will most likely be some bumps in my wealth-building road. The market is prone to downturns, corrections, and even crashes, but it has always historically gone up.

Still, no investment is guaranteed to provide returns.

The post My $10-a-day approach to building a second income with ASX shares appeared first on The Motley Fool Australia.

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• The boosted Woolworths dividend is hitting bank accounts today. Here’s what you need to know
• Brokers say these ASX 200 blue chip shares are buys
• I’m looking for once-in-a-decade opportunities in the stock market recovery
• Is Woolworths ‘the granddaddy of recession-proof stocks’?
• Top defensive ASX shares to buy in April 2023

Motley Fool contributor Brooke Cooper 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 Ansell. 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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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on track to start the week with a gain. At the time of writing, the benchmark index is up 0.2% to 7,377.8 points.

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

AMA Group Ltd (ASX: AMA)

The AMA share price is down over 30% to 17 cents. This follows the release of a very disappointing update from the smash repair company. AMA has downgraded its FY 2023 normalised EBITDA guidance to between $60 million and $68 million from $70 million to $90 million. This was driven by ongoing margin compression. Together with its significant debt load, investors appear concerned about its future.

New Hope Corporation Limited (ASX: NHC)

The New Hope share price is down 9% to $5.27. This has been driven by the coal miner’s shares going ex-dividend this morning for its interim and special dividends. Last month, thanks to strong coal prices, the company released its half-year results and declared a 30 cents per share interim dividend (up 76% year over year) and a special 10 cents per share dividend. These will be paid to eligible shareholders at the start of next month.

Regis Resources Ltd (ASX: RRL)

The Regis Resources share price is down 12% to $2.13. Investors have been selling this gold miner’s shares following the release of its quarterly update. Regis delivered gold production of 103,728 ounces during the quarter, which was well short of expectations. This has led to the company revising its full-year production guidance lower.

St Barbara Ltd (ASX: SBM)

The St Barbara share price is down 5% to 61.2 cents. This morning, this gold miner returned from a suspension and revealed that it has agreed to sell its Leonora assets to Genesis Minerals Ltd (ASX: GMD). The release notes that the acquisition of St Barbara’s Leonora assets will position Genesis as a gold industry leader with a dominant position in Western Australia’s world-class Leonora District.

The post Why AMA, New Hope, Regis Resources, and St Barbara shares are dropping appeared first on The Motley Fool Australia.

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More reading

• Why did ASX All Ords share AMA just crash 30%?
• ASX 200 gold stock Regis Resources is tumbling 12% today. Here’s why
• 3 ASX 200 shares trading ex-dividend this week
• Why is the New Hope share price crashing 8% today?
• Here are the top 10 ASX 200 shares today

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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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a small gain. At the time of writing, the benchmark index is up 0.15% to 7,372.9 points.

Four ASX shares that are climbing more than most today are listed below. Here’s why they are racing higher:

EML Payments Ltd (ASX: EML)

The EML share price is up 16% to 66.5 cents. This morning, this struggling payments company announced the exit of its CEO and the scrapping of its previously announced strategy. Investors appear pleased with its temporary CEO, new strategy, and a strategic review that will look at selling parts or all of its businesses.

Lake Resources N.L. (ASX: LKE)

The Lake Resources share price has jumped over 18% to 54.5 cents. This follows the announcement of another major milestone at the lithium developer’s Kachi project in Argentina. The company revealed that it produced 2,500 kilograms of lithium carbonate equivalents through its ion exchange technology.

Lindsay Australia Ltd (ASX: LAU)

The Lindsay Australia share price is up 19% to $1.25. This morning, this logistics company made a big upgrade to its earnings guidance for FY 2023. It now expects underlying EBITDA of $85 million to $90 million, compared to previous guidance of $68 million to $71 million.

Sayona Mining Ltd (ASX: SYA)

The Sayona Mining share price is up 11% to 21.7 cents. This has been driven by the lithium miner announcing a major increase to the mineral resource estimate of its Canadian operation. Management estimates that the Moblan Lithium Project represents one of North America’s single largest lithium resources.

The post Why EML, Lake Resources, Lindsay, and Sayona Mining shares are racing higher appeared first on The Motley Fool Australia.

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More reading

• Here are the 3 most heavily traded ASX 200 shares on Monday
• Lake Resources share price leaping 10% higher on ‘major milestone’
• EML share price rockets 11% after chief steps down
• Sayona Mining share price higher on big lithium news
• These are the 10 most shorted ASX shares this week

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 EML Payments and Lindsay Australia. The Motley Fool Australia has positions in and has recommended EML Payments. The Motley Fool Australia has recommended Lindsay Australia. 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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