It’s no secret that Westpac Banking Corp (ASX: WBC) shares are a common choice for income investors seeking dividends on the ASX. As an ASX 200 big four bank share, Westpac has a long history of paying out large, and fully franked dividends to its investors.

But how much income are Westpac shares throwing off today? After all, this ASX bank share has had a bit of a rough time in recent years. Over the past 12 months, the Westpac share price is languishing, down just over 4% since March 2022. And over the past two years, the losses are even more severe at around 12%.

In fact, the Westpac share price has been something of a perennial loser, having lost more than 26% over the past five years:

So let’s hope Westpac’s dividends have been able to absorb at least some of this shareholder pain.

Well, they have. Over the past 12 months, Westpac has paid out two dividend cheques. As is the norm for an ASX 200 share. These consisted of the interim dividend of 61 cents per share investors received in June last year. As well as the final dividend of 64 cents per share that was paid out in December. Both dividends were fully franked, of course.

That gives the Westpac share price a healthy trailing dividend yield of 5.75% at today’s share price of $21.75 (at the time of writing), with an annual total of $1.25 in dividends per share.

So how much money would an investor have to have tied up in Westpac shares to get to an income of $150 per month?

Can we get $150 a month from Westpac shares?

Well, we can easily work that out. $150 a month would equate to a total of $1,800 per year.

At today’s dividend yield of 5.75%, an investor would need a total of approximately $31,300 invested in Westpac shares to get an annual dividend cheque worth $1,800 per year, or $150 per month. That’s assuming Westpac keeps its dividends at 2022’s levels in 2023, of course.

If Westpac ups its dividends this year, as it did last year, then that amount will fall. If Westpac trims its dividends, then we will need to have more cash in Westpac to get that same income.

Fortunately, we might well see the former scenario if one ASX broker is to be believed.

As my Fool colleague James covered earlier this week, ASX broker Morgans reckons Westpac will up its dividends over 2023, 2024 and 2025 and get to an annual total of $1.61 in dividends per share by FY2025.

No doubt, shareholders will be hoping that this prediction for Westpac’s dividends proves accurate.

The post Here’s how much I’d need to invest in Westpac shares to generate a $150 monthly income appeared first on The Motley Fool Australia.

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More reading

• Why are ASX 200 bank shares like CBA being annihilated today?
• Morgans names 3 more of the best ASX shares to buy in March
• Forget high interest savings accounts and buy these ASX 200 dividend shares with huge yields: analysts
• Here’s how I’d invest $20,000 in ASX 200 shares for a supercharged second income
• Why Westpac shares are a smart buy for ASX bargain hunters

Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Westpac Banking. 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 volatility impacting the All Ordinaries Index (ASX: XAO) since the end of 2021 has been painful for some companies.

For investors, there can be a danger in trying to ‘catch a falling knife’. That’s the concept of investing in a business where the share price is falling, the investor buys in, and the share price keeps falling. A share price that falls from $100 to $20 can still halve again to $10.

However, finding businesses that are down heavily but are still expected to grow over the long term could be a good opportunistic strategy.

Here’s why the ASX All Ords shares in this article could be bargain buys after hitting 52-week lows.

Adore Beauty Group Ltd (ASX: ABY)

Adore Beauty claims to be the leading online retailer of beauty products in Australia.

But, the Adore Beauty share price hasn’t seen a beautiful performance over the last 12 months. It’s down by around 60%.

It’s understandable that the ASX All Ords share has gone backwards a bit, considering interest rates have shot higher. That logic applies to most All Ords ASX shares that don’t actually benefit from higher interest rates, because higher interest rates act like gravity on valuations, pulling down asset prices.

But, the company is also suffering from the impact of reduced online shopping now that lockdowns are in the past and COVID impacts are fading.

For example, in the FY23 half-year result, the company reported that revenue dropped 17% to $93.6 million and active customers declined 9% to 801,000. The earnings before interest, tax, depreciation and amortisation (EBITDA) margin was just 0.4%, reflecting “lower operating leverage, inflationary pressures and phased investments in key initiatives”.

But, February 2023 sales were up 3.7%. I think the future is positive, with cost optimisation and margin improvement which could help profit in future years. The EBITDA margin is expected to improve, and I think more shoppers will buy online in the coming years.

FINEOS Corporation Holdings PLC (ASX: FCL)

FINEOS describes itself as a leading provider of core systems for life, accident and health insurance carriers globally. It works with seven of the 10 largest group life and health carriers in the United States as well as six of the 10 largest life and health carriers in Australia.

Over the past year, the FINEOS share price has dropped around 50%.

The ASX All Ord share’s FY23 half-year results also saw some financial numbers go backwards.

While subscription revenue went up 18.4% to €29.9 million, total revenue dropped 6% to €61.5 million, with North America representing 78.3% of total revenue. It made an EBITDA loss of €2.6 million, down from a profit of €6.5 million in the FY22 first half.

The statutory net loss was €14.6 million.

While the company advised that sales deal closing had been “slower” than it would like, it did say the pipeline is “very strong”. The business is investing in automation to achieve further efficiencies across the business.

Management believes that customers will invest in extending their use of the FINEOS platform to enhance their business operations by replacing legacy core systems. It expects to achieve positive free cash flow in the second half of FY24.

Bubs Australia Ltd (ASX: BUB)

The Bubs share price has dropped by more than 50% in the past six months, despite the infant formula business making progress on its global growth plans.

In the first half of FY23, gross revenue dropped 1%, though infant formula revenue jumped 44%.

Bubs said that its inventory provision balance was driven by “volatile trading conditions and slower-than-expected consumer offtake in key markets.”

The ASX All Ords share recorded an EBITDA statutory loss of $44.4 million.

Bubs claims to be the number one goat formula brand in both Australia and the US.

US and ‘other international’ sales increased 63% year over year, with the US contributing 31% of first-half group revenue.

China sales were reflected by lockdowns and channel disruption.

Bubs expects the growth rate in China to improve thanks to the easing of restrictions and borders reopening, with “momentum building in the fourth quarter.” It also sees the US as a key export market for the long term.

Management is confident it has sufficient capital to realise its growth ambitions. It had cash of $51.4 million on its balance sheet as at 31 December 2022.

The post Bargain buys? 3 ASX All Ords shares trading at 52-week lows right now appeared first on The Motley Fool Australia.

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• 3 ASX All Ords shares on the move following results announcements
• Why is the Bubs share price on ice today?
• 3 ASX All Ord shares being hammered on earnings today
• Goldman Sachs says these ASX small cap shares are buy with major upside potential

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 recommended Adore Beauty Group. The Motley Fool Australia has recommended Adore Beauty Group, Bubs Australia, and FINEOS Corporation. 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 Xero Limited (ASX: XRO) share price is edging lower on Friday following a broad market selloff.

In late morning trade, the cloud accounting platform provider’s shares are down 0.5% to $86.62.

Though, the Xero share price is still up over 10% this week thanks to a strong gain on Thursday.

This has been driven by news that the company is looking to make significant cost savings by reducing its workforce.

Does this make Xero a stock to buy now?

The good news is that one leading broker doesn’t believe it is too late to jump on this new leaner, meaner Xero.

According to a note out of Goldman Sachs, its analysts have responded to the news by reiterating their conviction buy rating with an improved price target of $116.00.

Based on the current Xero share price, this implies potential upside of 34% for investors over the next 12 months.

What did the broker say?

Goldman continues to forecast strong revenue growth in the coming years thanks to structural tailwinds and its strong pricing power.

And thanks to these job cuts, the broker has boosted its earnings estimates meaningfully through to FY 2026. It explained:

We remain confident on the revenue outlook and forecast sustained growth (GSe +16% FY22-26E CAGR), given strong pricing power Xero has, the structural tailwinds driving cloud accounting adoption globally, and that Xero has somewhat protected its go-to-market functions in this restructure.

Although no trading update was provided, high frequency data suggest near-term subscriber trends remain solid. We lower our FY24-26 revenues by 1 to 3% on lower international sub growth (XRO vacancies are ANZ skewed currently at 80% of open roles vs. 56% staff). We upgrade FY24-26E EBITDA by +9-17% given the step change in opex, noting that we were +16 to +19% ahead of prior VA consensus.

Goldman ultimately expects this to lead to net profit after tax of:

• NZ$21.1 million in FY 2023
• NZ$78.4 million in FY 2024
• NZ$122.9 million in FY 2025
• NZ$179.7 million in FY 2026.

All in all, the broker continues to see Xero as the best tech stock to buy right now on the Australian share market. It concludes:

Overall we continue to see Xero as our top large cap technology pick, with the shift to profitability as a clear inflection point on several key debates: (1) priorities of new CEO in terms of scaling vs. profitable growth; (2) highlighting the scale and earnings potential of the business (masked since FY19 given breakeven FCF despite ARR > doubling); (3) supporting a multiple re-rate (noting the divergence in ASX profitable/unprofitable tech since 2021).

The post Is the new leaner, meaner Xero stock a buy right now? appeared first on The Motley Fool Australia.

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• 5 things to watch on the ASX 200 on Friday
• Why Arafura, Myer, Volpara, and Xero shares are zooming higher
• Why is the Xero share price racing 11% higher today?
• Xero share price on watch amid major cost cutting plans
• Top ASX growth shares to buy in March 2023

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

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The banking sector is a sea of red on Friday morning.

At the time of writing, all of the big four banks are trading sharply lower along with the regional players.

Here’s a summary of what’s happening with ASX 200 bank shares today:

• The ANZ Group Holdings Ltd (ASX: ANZ) share price is down 3%
• The Bank of Queensland Ltd (ASX: BOQ) share price has dropped 2.2%
• The Bendigo and Adelaide Bank Ltd (ASX: BEN) share price is 2.8% lower
• The Commonwealth Bank of Australia (ASX: CBA) share price has fallen almost 3%
• The Macquarie Group Ltd (ASX: MQG) share price is down almost 3%
• The National Australia Bank Ltd (ASX: NAB) share price has dropped 2.5%
• The Westpac Banking Corp (ASX: WBC) share price has fallen 3%

Why are ASX 200 bank shares falling?

Investors have been hitting the sell button on Friday in response to a very poor night of trade for US bank stocks on Wall Street. In fact, things were so bad for bank stocks that the financial sector had its worst session since 2020, dropping a sizeable 4.1%.

According to CNBC, this was driven by concerns that higher interest rates could result in banks facing large loan losses.

This followed news that the SVB Financial share price had crashed 60% after it announced a plan to raise more than $2 billion in capital in a bid to offset losses from bond sales.

Is this a buying opportunity?

Given that Australian banks appeared to be in strong financial health when they last updated the market, this could potentially be a buying opportunity for investors. Especially with the Reserve Bank hinting that there may only be one more rate hike to come.

Two broker recommendations that could be worth thinking about involve ANZ and Westpac.

Citi has named ANZ as its top pick in the sector and has a buy rating and $29.20 price target on its shares.

Whereas Goldman Sachs has a conviction buy rating and $27.74 price target on Westpac’s shares. It has named Australia’s oldest bank as its top pick in the sector.

The post Why are ASX 200 bank shares like CBA being annihilated today? appeared first on The Motley Fool Australia.

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More reading

• Buy these ASX dividend shares before it’s too late: brokers
• Morgans names 3 more of the best ASX shares to buy in March
• Here’s how much I’d need to invest in ANZ shares to generate a $300 monthly income
• Forget high interest savings accounts and buy these ASX 200 dividend shares with huge yields: analysts
• Here’s how I’d invest $20,000 in ASX 200 shares for a supercharged second income

Motley Fool contributor James Mickleboro has positions in Westpac Banking. 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 Bendigo And Adelaide Bank and Macquarie Group. The Motley Fool Australia has recommended Westpac Banking. 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 Piedmont Lithium Inc (ASX: PLL) share price has returned from its trading halt and dropped into the red.

At the time of writing, the lithium developer’s shares are down 4% to 84 cents.

Why is the Piedmont Lithium share price under pressure?

Investors have been selling down this lithium share on Friday in response to a short seller report from Blue Orca. This report was covered in greater detail here yesterday.

Blue Orca alleges that Atlantic Lithium Ltd (ASX: A11) obtained key Ghana mining licenses by making secret payments and promises of payment to the immediate family of a high-level Ghana politician.

The short seller believes this will mean that the Ghanian government will not ratify Atlantic Lithium’s mining licenses, causing significant issues for Piedmont Lithium.

Blue Orca summarises:

We are short Piedmont because without Atlantic’s Ghana supply, Piedmont and any promise of near-term revenue from its much-hyped Tennessee facility are dead on arrival. Without Ghana, industry experts and even a former Piedmont senior executive have confirmed that Piedmont is unlikely to find a source of replacement spodumene.

Piedmont Lithium responds

This morning, Piedmont Lithium has responded to the allegations. It notes that Atlantic Lithium “outrightly refutes the allegations of impropriety made by the Short Report.”

The company also notes that “Atlantic’s recent application for a Mining License for its lithium project in Ghana excludes the two licenses purchased as part of its acquisition of Joy Transporters Ltd referred to in the Short Report, which do not form part of Atlantic’s defined resources for its Ghana lithium project.”

In addition, the company revealed that it believes its Tennessee facility could find alternative sources of spodumene should it be required. It commented:

Piedmont has the right to purchase 50% of Atlantic’s production of spodumene concentrate from its Ghana lithium project, at market prices on a life-of-mine basis, and to earn a 50% interest in the Ghanaian projects. Piedmont currently contemplates utilizing spodumene concentrate from this offtake agreement as partial feed for its proposed Tennessee Lithium hydroxide plant.

However, if for any reason Piedmont does not exercise its right to this offtake supply, the Company is confident that alternative sources of spodumene concentrate would be available to feed the Tennessee facility, as current and future spodumene producers seek to feed the growing U.S. electric vehicle market and qualify for the benefits available under the Inflation Reduction Act of 2022.

The post Piedmont Lithium share price sinks following short attack response appeared first on The Motley Fool Australia.

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More reading

• Macquarie tips 3 ASX lithium shares to outperform, one with 150% upside
• Piedmont Lithium share price frozen amid short-seller attack
• 5 ASX lithium shares being added to the All Ordinaries in the latest rebalance
• Why are ASX lithium shares being hammered on Monday?
• Why A2 Milk, Piedmont Lithium, QBE, and Super Retail shares are racing higher

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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While interest rates are improving, there isn’t a savings account of term deposit that could match the potential returns on offer from the ASX stock named below.

In fact, if you’re patient, you could be earning over $1,000 in passive income from a $10,000 investment next year.

$1,000 income from this ASX stock

If you were to invest $10,000 into Mineral Resources Ltd (ASX: MIN) shares right now, you would receive 112 shares based on the current share price of $89.01.

According to a note out of Bell Potter, its analysts are expecting the mining and mining services company to pay fully franked dividends per share of $3.73 in FY 2023. This means that those 112 shares would provide investors with income of approximately $420.

But it gets much better in FY 2024. Thanks to the company’s booming lithium operations, the broker is expecting a huge jump in the Mineral Resources dividend to a fully franked $9.41 per share.

If this forecast is accurate, those 112 shares would yield a massive $1,053 in dividends.

And if you continue to hold onto this ASX stock in FY 2025, Bell Potter reckons you’ll be benefiting from another dividend increase to $9.60 per share. This would generate $1,075 in passive income from those 112 shares.

What about capital gains?

Another positive is that Bell Potter believes fair value for the Mineral Resources share price is notably higher than current levels.

It has a buy rating and $110.00 price target on its shares.

If this ASX stock were to climb to that level, your 112 shares would have a market value of $12,320. That’s a 23% return on your original investment even before the dividends start rolling in.

The post Investing $10k in this ASX stock could generate passive income of over $1k per year appeared first on The Motley Fool Australia.

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• Forget high interest savings accounts and buy these ASX 200 dividend shares with huge yields: analysts
• Last chance to snag the next dividend from these 4 ASX 200 mining shares
• 10 ASX 200 stocks trading ex-dividend tomorrow
• 2 ASX shares offering both growth and nice dividends: expert
• Mineral Resources share price slides as Norwest takeover bid heats up

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 S&P/ASX 200 Index (ASX: XJO) stock Bapcor Ltd (ASX: BAP) has seen plenty of volatility over the past year. Could some insider buying by directors be a promising signal for investors?

For investors that haven’t heard of Bapcor, it’s one of the largest auto parts businesses in the Asia Pacific region. It owns a number of different businesses in its portfolio including Burson Auto Parts, Truckline, WANO, Autobarn, Autopro, Midas, ABS, Shock Shop and Battery Town.

After the company’s recent FY23 half-year result, directors have been buying.

Insider buying

The latest purchase by a director was Mark Bernhard who bought 10,000 shares on the market, at a price of $6.63 per share.

Director Kate Spargo bought 10,000 shares for an average price of $6.475 per share on the market.

The director Brad Soller bought 7,500 shares on the market for a price of $6.66 per share.

Director Margaret Haseltine bought 7,515 shares for a price of $6.65 per share.

Earnings recap

Bapcor recently reported its half-year result for the six months to 31 December 2022.

The ASX 200 stock achieved record revenue, with growth of 11.2% to $1 billion – there was “strong growth in all Australian segments.”

The company said that the first half of FY23 demonstrated the “resilience of Bapcor’s diversified business model”, with an ongoing focus on capital efficiency with actions implemented to enhance cash conversion.

It said that there was continued network expansion and growth in proportion to own-brand sales across all of its segments. The ASX 200 stock also said that the distribution centre in Queensland is on track for practical completion in the second half of FY23.

Bapcor reported that its pro-forma net profit after tax (NPAT), or the underlying net profit, increased by 2.3% to $62 million.

In terms of an outlook, the ASX 200 stock said it expects a “solid underlying performance in FY23 with slight improvements” in trading in the second half of FY23, compared to the first half of FY23. But, it also said that more progress is required to further reduce Bapcor’s still-elevated inventory levels.

The business expects to keep growing its network in the coming years, which can help grow its scale and profitability. That could help the Bapcor share price in time too.

Bapcor share price valuation

According to Commsec, Bapcor shares are valued at 18 times FY23’s estimated earnings.

The post 4 directors have been buying up this ASX 200 stock since the company reported appeared first on The Motley Fool Australia.

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• 6 ASX 200 directors buying up their companies’ shares this week
• Top brokers name 3 ASX shares to buy next week
• Why did the ASX 200 leap higher on rising unemployment data?
• Why Bapcor, Magellan, Sonic Healthcare, and Telstra shares are charging higher
• Bapcor share price surges 5% on record half

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 Bapcor. 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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Brokers have been busy in recent weeks adjusting their forecasts and recommendations to reflect updates that were given during earnings season.

Two ASX dividend shares that have fared well are listed below. Here’s why broker think income investors should be buying these shares:

ANZ Group Holdings Ltd (ASX: ANZ)

According to a note out of Citi, its analysts believe that ANZ is the bank to buy right now. The broker has a buy rating and $29.25 price target on its shares.

It was pleased with ANZ’s first-quarter update and believes its earnings are currently ahead of expectations. The broker commented:

Likely a strong quarter for institutional ANZ’s 1Q23 disclosures exhibited strong trends in both lending growth and asset quality. No earnings disclosure was provided, but we think that after backing out RWA movements from capital, it comfortably implies above market earnings. […] ANZ remains our top pick in the sector, and we expect the lending momentum, particularly in institutional, to continue to differentiate vs peers.

As for dividends, Citi is forecasting fully franked dividends of 166 cents per share in FY 2023 and then 176 cents per share in FY 2024. Based on the current ANZ share price of $24.49, this will mean yields of 6.8% and 7.2%, respectively.

Universal Store Holdings Ltd (ASX: UNI)

A note out of Morgans reveals that its analysts have an add rating and $7.00 price target on this youth fashion retailer’s shares.

Its analysts were impressed with Universal Store’s performance during the first half. Pleasingly, they appear to believe that it is well-placed for more of the same in the near term. The broker said:

UNI has opportunities to grow steadily through the rollout of bricks and mortar stores, increased digital penetration and expansion of wholesale channels. While we recognise the general risk around a decline in consumer expenditure on discretionary categories like apparel, we highlight that the youth demographic is likely to be more resilient.

In respect to dividends, Morgans expects fully franked dividends per share of 30 cents in FY 2023 and 35 cents in FY 2024. Based on the latest Universal Store share price of $5.40, this equates to yields of 5.5% and 6.5%, respectively.

The post Buy these ASX dividend shares before it’s too late: brokers appeared first on The Motley Fool Australia.

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More reading

• Here’s how much I’d need to invest in ANZ shares to generate a $300 monthly income
• Top ASX small-cap shares to buy in March 2023
• ASX 200 bank shares slump could continue: Morgan Stanley
• Why Brainchip, Lynas, Megaport, and Universal Store shares are dropping today
• Morgans names 3 of the best ASX shares to buy in March

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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Whitehaven Coal Ltd (ASX: WHC) shareholders had a very nice day yesterday. Thursday’s trading session saw the Whitehaven share price spike by a pleasing 5.55% up to $7.42 a share.

But no doubt today will also be a happy day for shareholders, regardless of what the Whitehaven share price does. That’s because today is payday for the latest (and monstrous) Whitehaven dividend.

Last month, Whitehaven delivered its latest earnings report, covering the half-year to 31 December 2022. It was an objectively impressive report, with Whitehaven announcing a 164% rise in revenues, as well as a massive 423% surge in net profits after tax (NPAT).

This enabled the company to announce a gargantuan interim dividend of 32 cents per share, fully franked. That’s up an eye-watering 300% on last year’s interim dividend of 8 cents per share, and the largest interim dividend Whitehaven has ever forked out.

Whitehaven shareholders set for dividend jackpot

As we warned last month, the ex-dividend date for this payment was on 23 February. So any shareholders who opened a position in Whitehaven after that date will miss out on this dividend.

But those lucky investors who had the shares in their name before 23 February are set to see this shareholder payment hit their bank accounts today.

Together with Whitehaven’s final dividend of 40 cents per share, also fully franked, that we saw in the back half of last year, this company has now paid out a total of 72 cents per share over the past 12 months.

That gives Whitehaven shares a trailing dividend yield of 9.7% on yesterday’s closing share price. That grosses up to a whopping 13.96% with the value of those full franking credits.

So no doubt today is a happy day for most Whitehaven shareholders.

Saying that, Whitehaven has had a rough start to 2023. Year to date, this ASX 200 energy share is down around 16%, as well as being down more than 33% from Whitehaven’s 52-week high of $11.04 a share. But even so, Whitehaven still remains up a happy 88% or so over the past 12 months:

So despite the rough start to 2023 Whitehaven shares have had, it’s hard to feel too sorry for shareholders of this ASX 200 coal share today.

The post The whopper Whitehaven dividend is being paid today. Here’s what you need to know appeared first on The Motley Fool Australia.

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More reading

• Is the party well and truly over for ASX 200 coal shares?
• Passive income watch: Here are the ASX 200 shares that delivered some of the biggest dividend boosts this earnings season
• Here are the top 10 ASX 200 shares today
• 3 ASX 200 shares you might not know are trading ex-dividend today
• Why is the Whitehaven share price taking a thumping on Thursday?

Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has 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 closed yesterday’s session up 3.25% to 64 cents.

The ASX lithium stock has had a turbulent time of late, with its share price falling 24% in February alone.

But broker Bell Potter says the stock is a buy with a potential 300% upside available to investors.

What will push the Lake Resources share price 300% higher?

Bell Potter has a speculative buy rating on Lake Resources with a 12-month share price target of $2.52.

That implies a 309.8% upside for investors who buy the ASX lithium stock today.

This is welcome news for shareholders, who have been suffering through a bunch of blows lately.

These include a tumbling share price, softening lithium prices, and a bearish outlook on the commodity.

Lake Resources also remains one of the most shorted ASX shares, with 6.9% of its capital shorted. It continues to be the subject of a sustained short-sell attack by US activist group, J Capital too.

Finally, with no production slated until 2024, Lake Resources shares may be attracting less support from investors than producing companies like Allkem Ltd (ASX: AKE), Pilbara Minerals Ltd (ASX: PLS), and Core Lithium Ltd (CXO).

Its flagship Kachi Project is due to commence production in 2024. In 2023, Lake Resources announced two conditional offtake agreements amounting to 50,000 tonnes per annum of lithium carbonate.

Bell Potter likes the look of these deals. Here’s its latest commentary on Lake Resources:

“LKE has … announced two conditional agreements with a combined offtake of 50ktpa lithium carbonate (LC) and listed-level equity placement of 20%.

WMC Energy (Netherlands) and SK On (Korea) have both signed 10-year 25ktpa LC offtake from LKE’s Kachi project.

Both companies are expected to make a 10% equity investment in LKE; WMC at $1.20/sh and SK On at an agreed 20-day VWAP.

Both agreements are conditional on the release of the Kachi definitive feasibility study, Lilac’s demonstration plant successfully operating, completion of financial due diligence on LKE and formal documentation and approvals.”

Bell Potter is tipping earnings per share (EPS) growth of 85.9% for Lake Resources in 2024.

What’s the latest news from Lake Resources?

The company recently presented at the BMO Global Metals, Mining and Critical Minerals Conference.

In its presentation, Lake Resources said demand continues to outweigh supply for lithium.

It notes an ongoing push from the United States and Europe for non-China lithium supply.

Lake said it expected to complete its definitive feasibility study for producing 50,000 tonnes of lithium carbonate per annum by the middle of this year.

The post Top broker says buy Lake Resources shares for potential 300% upside appeared first on The Motley Fool Australia.

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More reading

• Here are the 10 most shorted ASX shares this week
• Why did the Lake Resources share price sink 24% in February?
• These ASX 200 shares were crushed in February
• Here are the top ten ASX 200 shares today
• Here are the 10 most shorted ASX shares this week

Motley Fool contributor Bronwyn Allen has positions in Allkem and Core Lithium. 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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