The Electro Optic Systems Holdings Ltd (ASX: EOS) share price has been a big mover on Monday.

At one stage this morning, the defence and communications company’s shares were up 53% to 70 cents.

The EOS share price has now pulled back but remains up 28% to 58 cents.

Why is the EOS share price racing higher?

Investors have been buying the company’s shares today after it announced a major contract win.

According to the release, EOS’ Defence Systems business has secured a contract with SpetsTechnoExport (STE), a Ukrainian state-owned foreign trade enterprise.

EOS will supply STE with up to one hundred EOS heavy remote weapon systems (RWS), including spares and related services, for use in Ukraine. The contract is valued at up to US$80 million (approximately A$120 million) and is expected to be supplied during 2023 and 2024.

EOS’ RWS is a long-established product and is designed to deliver greater accuracy and reliability than any competitor system. Over 2,500 units have been sold and it is currently in use with several military services in Australia, North America, Europe and South-East Asia.

What’s next?

It is worth noting that the contract is not yet binding. It remains conditional on demonstration testing and is subject to other customary terms for military contracts. In addition, consistent with typical wartime contract arrangements, the contract is also subject to conditional early termination rights in favour of STE.

Pleasingly, management revealed that this may not be the final contract. It advised that it continues to work on other opportunities relating to Ukraine, including opportunities for direct supply to the country, and to other countries providing support to Ukraine.

However, it has warned that there is no certainty that any particular outcome or transaction will result from these discussions. EOS will keep the market updated as appropriate.

The post Electro Optic Systems share price rockets 53% on Ukraine deal appeared first on The Motley Fool Australia.

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More reading

• Why are ASX 200 energy shares off to such a great start on Monday?
• Guess which ASX 300 lithium director just doubled their holding of company shares
• Why is the Lake Resources share price rocketing 19% on Monday?
• Coles share price climbs following $100 million acquisition
• This ASX All Ords share could pay a 16% dividend yield by 2025

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 Electro Optic Systems. 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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S&P/ASX 200 Index (ASX: XJO) energy shares are off to a flying start on Monday.

The big energy stocks are helping send the S&P/ASX 200 Energy Index (ASX: XEJ) up 3.29% in early trade, far outpacing the solid 0.85% gains posted by the ASX 200 at this same time.

At the time of writing, the Santos Ltd (ASX: STO) share price, pictured below, is up 3.19%.

Meanwhile, rival ASX 200 energy share Woodside Energy Group Ltd (ASX: WDS) is flying 3.48% higher.

What’s piquing investor interest?

Investors are bidding up the ASX 200 energy shares after a surprise decision by the Organization of Petroleum Exporting Countries (OPEC+) to slash a million barrels per day from their production levels.

Saudi Arabia, concerned about macro factors depressing global oil prices, will itself provide half those cuts. The nation has pledged to reduce its daily output by a whopping 500,000 barrels per day.

With the market having widely priced in steady production levels from the cartel, oil soared more than 8% on the news.

At the time of writing, Brent crude is trading for US$84.94 per barrel. That’s up from US$79.77 on Friday.

While that’s clearly welcome news for ASX 200 energy shares, it’s not so welcome for political leaders battling inflation on the home front. US President Joe Biden was said to be displeased with the timing of OPEC’s decision.

“Today’s move, like the October cut, can be read as another clear signal that Saudi Arabia and its OPEC partners will seek to short circuit further macro selloffs. This decision will certainly not be welcomed by the White House,” RBC Capital Markets LLC analysts said (quoted by Bloomberg).

“We see this closely held decision as just one more indication that the Saudi leadership is making its oil production decisions with a clear eye to their own economic self-interests,”  head of commodity strategy at RBC Capital Markets Helima Croft added.

How have these ASX 200 energy shares been tracking?

With a big leap higher this morning, the Woodside share price has regained most of its 2023 losses, currently down 1.25% for the calendar year so far.

ASX 200 energy share Santos, meanwhile, has clawed back into the green for the year, up 1.2%.

The post Why are ASX 200 energy shares off to such a great start on Monday? appeared first on The Motley Fool Australia.

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• 5 things to watch on the ASX 200 on Monday
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• Why Jervois Global, Mincor, Newcrest, and Santos shares are dropping today
• 5 things to watch on the ASX 200 on Thursday
• 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 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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One of the market’s newest lithium shares – Leo Lithium Ltd (ASX: LLL) – has been the subject of recent insider buying, with one director doubling their stake in the S&P/ASX 300 Index (ASX: XKO) company.

Leo Lithium director Alan Rule indirectly tipped more than $50,000 into the company’s securities last week.

Right now, the Leo Lithium share price is 50.5 cents – 2.88% lower than its previous close.

For comparison, the ASX 300 is gaining 0.74% at the time of writing.

Let’s take a closer look at the latest insider buying at the Firefinch Ltd (ASX: FFX) spinout.  

Director doubles stake in ASX 300 lithium share

Alan Rule saw his stake in Leo Lithium nearly double last week on the back of on-market trades by his spouse.

That sees the director with an additional 100,000 shares in the lithium hopeful – paying 50.5 cents apiece – leaving him with a parcel of nearly 205,000 stocks.

Rule was appointed to the company’s board in early January.

He previously spent more than 25 years prior as chief financial officer in other ASX-listed mining companies including Galaxy Resources – which merged with Orocobre in 2021, eventually becoming Allkem Ltd (ASX: AKE) – and Paladin Energy Ltd (ASX: PDN).

Leo Lithium is developing the Goulamina Lithium Project in Mali, West Africa in partnership with global giant Jiangzi Ganfeng Lithium. The project has the potential to be West Africa’s first spodumene producer.

The company is aiming to begin production at the project in the second quarter of 2024. In the meantime, direct shipped ore (DSO) is expected to bring in revenue in the second half of this year.

The ASX 300 lithium stock listed on the Aussie bourse in June 2022. It raised $100 million through its initial public offering (IPO), offering new shares for 70 cents each.

Those invested in Firefinch received one Leo Lithium share for every 1.4 stocks held as part of the demerger.  

Sadly, the Leo Lithium share price tumbled on its ASX float, closing its first session at 49 cents. It has gained 3% in the months since.

The post Guess which ASX 300 lithium director just doubled their holding of company shares appeared first on The Motley Fool Australia.

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• 8 ASX 300 lithium stocks surging over 10% today
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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 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 Lake Resources N.L. (ASX: LKE) share price is rocketing higher on Monday.

In morning trade, the lithium developer’s shares are up 19% to 53 cents.

Why is the Lake Resources share price rocketing higher?

Investors have been scrambling to buy the company’s shares this morning after it announced a major milestone with its Kachi operation in Argentina.

According to the release, independent testing of lithium carbonate produced from Kachi has confirmed grades and purity greater than 99.8%.

Management believes this points to Kachi being a world-class lithium development project that is poised to lead the industry in the production of high-quality lithium with minimal environmental footprint.

What were the tests?

The release notes that the test was performed by Saltworks with independent analysis by two third party labs.

Lake highlights that the test validates the major commercial process systems for the Kachi Project and confirms its ability to produce high-quality, battery-grade lithium carbonate from its brine resource using Lilac DLE technology.

There have been some major doubts over the ability of this technology. In fact, one short seller was targeting the company on the belief that the technology was going to cause significant environment waste.

However, Lake has revealed that it has achieved its results in an environmentally friendly manner.

Furthermore, the quality of the lithium carbonate product from the Saltworks test exceeds the project design specification and the battery grade specifications of major South American brine lithium producers.

Lake’s CEO, David Dickson, said:

This is a new process that has now been proven to produce high grade lithium in our ‘mining and refining’ facility– this means a critical part of the value adding chain is being captured by Lake. It also sets a new standard for what it means to be a responsible member of the lithium supply chain.

Despite today’s strong gain, the Lake Resources share price is down by a third in 2023.

The post Why is the Lake Resources share price rocketing 19% on Monday? appeared first on The Motley Fool Australia.

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• Down 27% in a month, is the Lake Resources share price finally cheap enough to buy?
• Why Appen, Harvey Norman, Healthco, and Lake shares are dropping today
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• Here are the top 10 ASX 200 shares today
• Why Lake Resources, Latitude, Synlait, and Woodside shares are falling 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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The Coles Group Ltd (ASX: COL) share price is on the move on Monday.

In morning trade, the supermarket giant’s shares are up 0.65% to $18.14.

Why is the Coles share price rising?

As well as getting a boost from improving investor sentiment, the Coles share price is rising today after it made an acquisition announcement.

According to the release, Coles has entered into a binding agreement to acquire two automated milk processing facilities from Saputo Dairy Australia (SDA) for approximately $105 million.

These processing facilities are located in Laverton North (VIC) and Erskine Park (NSW) close to Coles’ distribution centres. They each have the capacity to process around 225 million litres a year and are predominantly used to process Coles Own Brand 2L and 3L milk.

Why acquire these facilities?

Coles’ CEO, Steven Cain, believes that bringing these facilities in-house will protect its milk supply, complement existing investments, and open up growth opportunities. He commented:

These facilities are state-of-the-art, delivering exceptional production efficiency and quality through highly automated processes. Whilst improving security of our milk supply and our supply chain resilience in the dairy sector, these facilities also have sufficient capacity to facilitate further growth opportunities through new product innovation.

The acquisition will build on the strong relationships we have developed with our dairy farmers since launching our direct sourcing model in 2019. Around 90 dairy farmers supply milk direct to Coles, allowing these farmers to invest for the future and ensuring the long-term sustainability of their farms. These processing facilities will complement our existing investments in our Own and Exclusive brand portfolio and manufacturing capabilities in areas such as convenience meals and meat.

The acquisition will be funded from Coles’ existing debt facilities. Pleasingly, management expects the deal to exceed its investment return hurdles within three years.

Though, the acquisition of these sites remains subject to Australian Competition and Consumer Commission (ACCC) approval and other customary closing conditions. If all goes to plan, it is expected to be completed in first half of FY 2024.

The post Coles share price climbs following $100 million acquisition appeared first on The Motley Fool Australia.

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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. 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 All Ordinaries (ASX: XAO), or All Ords ASX share, Best & Less Group Holdings Ltd (ASX: BST) could be one of the largest dividend yield payers in the coming years. By 2025, the grossed-up dividend yield might be 16%.

There are very few businesses that are expected to grow their dividend in the coming years to such a high level.

Sometimes ASX mining shares can pay very high yields when times are good like we’ve seen from BHP Group Ltd (ASX: BHP), Rio Tinto Limited (ASX: RIO) and Fortescue Metals Group Limited (ASX: FMG) in the last few years.

But, with the fact that retailers do trade on a low price/earnings (P/E) ratio, it means that sometimes those dividend yields can become very high.

What does this ASX All Ords share do?

The business describes itself as a leading value apparel specialty retailer with an omnichannel sales network comprising 245 physical stores and an online platform.

Its aim is to be the “number one choice for mums and families buying baby and kids’ value apparel in Australia and New Zealand through its two trusted brands: Best & Less (in Australia) and Postie (in New Zealand).”

Dividend projection for Best & Less shares

Commsec numbers suggest that Best & Less is going to pay an annual dividend per share of 18.1 cents in FY23, which would equate to a grossed-up dividend yield of 12.6% at the current Best & Less share price.

In FY25, it’s projected to pay an annual dividend per share of 22.7 cents per share. This would be a grossed-up dividend yield of around 16%.

Why is the dividend yield so high? According to Commsec numbers, Best & Less is valued at under 9 times FY23’s estimated earnings and 6 times FY25’s estimated earnings.

Will it be able to grow earnings?

I think a key part of being a good ASX dividend share is growing earnings over time so that it’s more likely to be able to fund the current dividend and achieve dividend growth.

The All Ords ASX share is planning to accelerate its investment online, including a new customer data platform, a new mobile app and a consumer website. It’s also reviewing its core planning, merchandising and finance systems.

The business is working on a number of growth priorities:

Continued market share growth in baby, kids and womenswear, achieving above market online sales growth and enhancing the store network, underpinned by supply chain transformation.

It’s planning to open six new stores in the second half of FY23. This can help FY24 earnings and beyond as the stores mature.

The business is seeing a return to supply chain stability, which will hopefully help its inventory positioning.

Foolish takeaway

While there may be some volatility ahead, I think this retailer can do well in the coming years, particularly if more shoppers look for good-value clothing. This could then help the business fund those huge projected dividends.

The post This ASX All Ords share could pay a 16% dividend yield by 2025 appeared first on The Motley Fool Australia.

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Motley Fool contributor Tristan Harrison has positions in Fortescue Metals Group. 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 Kogan.com Ltd (ASX: KGN) share price has fallen heavily over the past four weeks. It’s down 15% in a short amount of time.

But, it’s also down by around a third over the last year and it has sunk over 80% since October 2020.

It’s even down approximately 55% in the past five years.

What’s going wrong?

The company’s latest report, which was the half-year result for the six months to 31 December 2022, showed a 32.5% decrease in gross sales to $471.1 million. Kogan explained it was cycling against COVID-19-related lockdown orders, and that it was seeing subdued sales for the company.

Gross profit decreased by 41.8% to $62.9 million. The e-commerce ASX share said that the period was impacted by the “substantial right-sizing of inventory involving unprecedented discounting.”

However, Kogan did note that operational costs reduced after this reduction of inventory.

Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) was negative $4.4 million, while actual EBITDA was a loss of $23 million. Losses at the EBITDA level haven’t been good news for the Kogan share price.

The adjusted net loss after tax was $9.6 million, while the statutory net loss after tax was $23.8 million.

But, just to provide a bit more detail, the New Zealand business called Mighty Ape managed to achieve adjusted EBITDA of $6.8 million, while the adjusted net profit was $4.1 million.

But, there was some positive growth – Kogan First saw subscribers rise by 47.6% to 404,000 and Kogan First revenue went up by 83.1% to $10.8 million.

It also revealed that it bought luxury furniture retailer Brosa out of administration for $1.5 million, which comes with 500,000 Brosa subscribers.

Is the Kogan share price a buy?

It’s a tricky question because the business has seen a complete collapse in profitability from pre-COVID and early COVID times.

Kogan said that it made a monthly adjusted EBITDA profit for the first in January 2023 since July 2022.

Now Kogan just needs to put a number of monthly profits together and then the business will have made a profit for a half-year period, which would be very positive for regaining investor confidence.

I think Kogan showed in pre-COVID times that it could make a profit on a much smaller base than the numbers it was producing in FY21 and FY22.

With the inventory (finally?) right sized, the business can focus on making profitable sales.

According to Commsec, the current Kogan share price is valued at 37 times FY25’s estimated earnings, which is based on potential earnings per share (EPS) of 10 cents.

So, a full recovery of normalised profit isn’t expected for a while, but a return to making a statutory net profit would be a good first step in FY24.

I think more shoppers will buy things online over time, so I do think Kogan has a positive future. But I also think it’s important not to anchor to the past Kogan share price heights or profit expecting that it’ll get back there quickly. I’d call the Kogan share price a buy at under $4.

The post Down 15% in 4 weeks: Is now the time to buy Kogan shares? appeared first on The Motley Fool Australia.

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• Why Atlas Arteria, Kingsgate, Kogan, and Synlait Milk shares are dropping today

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 positions in and has recommended Kogan.com. The Motley Fool Australia has positions in and has recommended Kogan.com. 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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There are a number of different ways to value whether a business is a cheap ASX share. I think that using a company’s projected profit is one of the easiest ways, as well as its price/earnings (P/E) ratio which compares the share price to the earnings.

However, profit may not be a perfect tool to measure businesses. Certainly, it’s possible to massage profit to make it look better than it really is.

For example, businesses could capitalise and depreciate their research and development costs, spreading the costs, in accounting terms, over a number of years, rather than accounting for them all in the first year. This can boost how good profit looks in the short term.

Indeed, it’s worth knowing what a tech company’s policy with this is because different companies take different approaches.

Businesses can also decide to not pay for any marketing in the last month of the year, boosting profits. But that could be bad for long-term performance.

Keeping that warning in mind, there are some smaller ASX shares that seem so cheap that they could be good investments.

Dusk Group Ltd (ASX: DSK)

Dusk is an ASX retail share with a market capitalisation of $97 million, according to the ASX.

It sells a variety of home fragrance products including candles, ultrasonic diffusers, reed diffusers, essential oils, and fragrance-related homewares.

First, let’s point out that the business had no debt and $32.9 million net cash at the end of the FY23 first half. That cash makes the company’s P/E ratio look even cheaper, and can enable attractive shareholder payments like dividends and share buybacks.

It is projected to pay very large dividends according to Commsec. Dusk could pay a grossed-up dividend yield of 12.8% in FY23 and 16.5% in FY25.

The cheap ASX share is expecting to keep adding new stores to its store network. This boosts its potential customer reach and, hopefully, scale and overall profitability.

According to current Commsec estimates, it’s valued at 8x FY23’s estimated earnings and 6x FY25’s estimated earnings.

While it may not be the highest-quality business in the world, I think its cash pile, high dividend yield, and low valuation make it an appealing idea in this uncertain time for retail.

Aeris Resources Ltd (ASX: AIS)

I think Aeris is one of the most compelling smaller ASX mining shares around.

It’s known as a copper miner, with operational projects and a promising growth portfolio.

I think copper has a good future considering the amount of electrification that is likely to happen in the coming years with electricity grids around the world, electric vehicles, batteries, renewable energy generation, and so on.

Copper prices don’t need to soar for this cheap ASX share to do well, in my opinion.

As projects come online, profitability is expected to increase as development costs end and mine cash flow starts being produced.

By FY25, the business is projected to be producing 17.3 cents of earnings per share (EPS). This puts the current Aeris Resources share price at just 4x the FY25 estimated earnings.

If Aeris were to pay a dividend with a payout ratio of just 50%, that would be a dividend yield of 12.9%, and 18.4% grossed-up if those dividends were fully franked. Later this decade, I think this business could be an attractive dividend payer.

The post I believe these 2 beaten-up ASX shares are too cheap to ignore in April appeared first on The Motley Fool Australia.

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• Leading brokers name 3 ASX shares to buy today
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• 3 top ASX mining shares I’d buy right now

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 recommended Dusk 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 Zip Co Ltd (ASX: ZIP) share price significantly outperformed the S&P/ASX 200 Index (ASX: XJO) in March 2023.

The buy now, pay later (BNPL) business climbed by around 10% while the ASX 200 fell by around 1%. It’s been rare for Zip to have such a positive month compared to the ASX.

But, there’s a very good reason for the company’s outperformance.

Cash flow breakeven?

Zip announced at the end of March 2023 that it had signed agreements to divest its businesses in South Africa (Payflex) and central and eastern Europe (Twisto). The BNPL business also said that it’s winding down its business in the Middle East.

The ASX share said that it expects aggregate net cash inflows of approximately $20 million to be received in the FY23 second half as a result of these moves.

Zip noted that cash earnings before tax, depreciation and amortisation (EBTDA) for its Europe, Middle East and African (EMEA) businesses was negative $10.2 million in the first half of FY23. As a result of the announced transactions and decisions, on completion of the moves by Zip, it will have “successfully delivered on its objective of neutralising cash burn from its rest of the world (RoW) footprint by the end of this financial year.”

In that announcement, the company said that it continues to progress other activities in line with its strategic priorities. It also said that this demonstrated its focus on the core businesses of the US, and Australia and New Zealand.

Zip noted that the expected cash inflows will “contribute directly to the group’s available cash and liquidity and Zip remains confident that it has sufficient available cash and liquidity to deliver on positive group cash EBTDA during H1 FY24.”

Is this good news?

The market definitely seemed to like it, with the Zip share price rising.

One of the biggest issues that Zip faced before this announcement is that it wasn’t cash flow breakeven, yet it had to grow to have enough scale to potentially be breakeven. Spending on growth activities uses cash.

On top of that, the environment has changed for BNPL. Interest rates have shot higher, which is problematic because interest is one of the main expenses for Zip. There is also increasing talk about regulators introducing regulation.

The business may be on track for breakeven, though there’s more to its future success than just that. With the business walking away from a number of markets, it’s now betting more on the US being able to provide a lot of the growth that it’s looking for.

The recent FY23 half-year result showed that US revenue was up 6% to $152.5 million, while ANZ revenue was up 23%. But, the rest of the world revenue had increased 374% to $18 million.

Zip share price snapshot

Since the start of 2023, Zip shares are flat compared to the start of the year.

The post Why did the Zip share price zoom higher in March? appeared first on The Motley Fool Australia.

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More reading

• These are the 10 most shorted ASX shares this week
• Why Appen, Regis Resources, Syrah, and Zip shares are charging higher today
• Zip share price leaps 14% on $20 million windfall
• Zip share price dips amid Apple’s BNPL US launch
• Here are the 10 most shorted ASX shares this week

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 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.

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It can be useful for investors to keep an eye on which ASX 200 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.

With that in mind, listed below are a couple of ASX 200 mining shares that reported meaningful insider buying last week. They are as follows:

BHP Group Ltd (ASX: BHP)

According to a change of director’s interest notice, one of the Big Australian’s non-executive directors has been topping up their shareholding.

The release notes that Gary Goldberg bought 1,000 BHP American depositary shares (ADS) through an on-market trade on 29 March. This is the equivalent of 2,000 ASX listed BHP shares.

Goldberg paid an average of US$58.3719 per ADS, which equates to a total consideration of US$58,371.90 or A$87,515.50.

This increased the non-executive director’s holding to 8,000 ADS, representing 16,000 ordinary BHP shares.

Fortescue Metals Group Ltd (ASX: FMG)

Another change of director’s interest notice reveals that a director of this ASX 200 iron ore giant has been buying its shares.

According to the note, Fortescue’s non-executive director, Jennifer Morris OAM, picked up 652 shares through an on-market trade last week on 29 March.

Ms Morris paid a total of $14,697.75 for the parcel of shares. This equates to an average of $22.54 per Fortescue share, which is broadly in line with where they trade today.

This latest purchase increased the director’s holding to a total of 21,176 Fortescue shares.

The post 2 ASX 200 mining directors buying up their company shares in the past week appeared first on The Motley Fool Australia.

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More reading

• Here are the top 10 ASX 200 shares today
• Why did the BHP share price see-saw in March?
• Bought $9,000 of Fortescue shares in 2018? Here’s how much passive income you’ve pocketed
• Why did the BHP share price have such a top run today?
• ASX shares are paying out $19 billion in dividends this week. Are you getting a piece?

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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