It’s been a very positive day indeed for ASX shares and the S&P/ASX 200 Index (ASX: XJO) this Friday. As we barrel towards the weekend, the ASX 200 has put on a healthy 0.42% at the time of writing, placing the index at just under 7,290 points. But that’s nothing compared to the bonanza currently being enjoyed by the Liotnown Resources Ltd (ASX: LTR) share price. 

Liontown shares are on fire today, no other way to put it. This ASX 200 lithium stock closed at $1.44 a share yesterday and opened at $1.42 this morning. But as it presently stands, Liontown has rocketed by a whopping 12.15% up to $1.62 a share.

So what’s going on with Liontown that might have elicited such a dramatic jump in valuation?

Well, it’s not entirely clear, unfortunately. There hasn’t been much in the way of news or announcements out of Liontown itself today. Or indeed, this month so far.

Looking at other ASX 200 lithium shares, we do see some gains. For example, Pilbara Minerals Ltd (ASX: PLS) shares are up a decent 2.33% so far to $4.18 each. Core Lithium Ltd (ASX: CXO )is up by 2.12% at 97 cents a share. And the Allkem Ltd (ASX: AKE) share price has risen by 1.94% to $12.34.

So some healthy moves, but none on Liontown’s level.

What’s with the Liontown share price spike then?

It’s possible that Liontown shares’ sharp rise can be explained by a recent broker recommendation on Liontown. As we covered just yesterday, ASX broker Bell Potter has come out with a speculative buy rating on Liontown shares.

The broker gives the Liontown share price a 12-month target of $2.81. If realised, this would result in an upside of more than 75% from where the shares are right now (after today’s monster move higher).

That would obviously be a very alluring prospect for investors and could explain why we are seeing such a noticeable rush into the Liontown share rice this Friday.

Liontown has already had a great start to 2023. Over the year to date, the Liontown share price has now risen by a pleasing 30.9%:

Even so, the company remains down more than 26% from its most recent 52-week high of $2.22 a share. So no doubt investors will be encouraged by what they’ve seen today. But we’ll have to wait and see if Liontown indeed does make it to $281 a share over the next 12 months.

The post Why is the Liontown share price roaring 12% higher today? appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Passive income watch: Here are the ASX 200 shares that delivered some of the biggest dividend boosts this earnings season
• Here are the 3 most heavily traded ASX 200 shares on Friday
• What’s happening with ASX 200 lithium stocks this week?
• Why Block, Liontown, MMA, and Norwest Energy shares are charging higher today
• 5 high-profile ASX 200 shares that will trade ex-dividend 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 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.

from The Motley Fool Australia https://ift.tt/bk0DHf6

The ANZ Group Holdings Ltd (ASX: ANZ) share price has gone through a fair bit of pain over the last month. Could the ASX bank share be worth buying today?

Since 9 February 2023, it has dropped around 8%. That compares to a drop of 2.7% in the S&P/ASX 200 Index (ASX: XJO).

Commonwealth Bank of Australia (ASX: CBA) shares have fallen even further, dropping 11% in that time.

Investor sentiment about banks has taken a tumble, even though interest rates are expected to keep rising in the coming months.

Indeed, the Reserve Bank of Australia (RBA) leader Dr Lowe said in a statement that “the board expects that further increases in interest rates will be needed over the months ahead to ensure that inflation returns to target and that this period of high inflation is only temporary.”

Bank sector competition going crazy?

One of the main problems for the sector could be lower-than-expected profitability as lenders compete away some of the increased margins they’re experiencing. The CBA CEO Matt Comyn said last month:

The home lending market is undergoing a period of extreme change and intense competition.

Cash backs are growing in size and prevalence, and we estimate that banks have deferred costs relating to cash backs of over $1 billion. This figure has increased almost 50% in the past two years, and combined with a substantial increase in commissions over the same period, creates a margin headwind that will flow unevenly across the market.

ANZ had previously said that it expects to make billions more in net interest income over the next few years as its loan book sees fixed interest loans revert to variable loans and higher interest rates.

However, the potential boost to profit may be less than hoped because of the strong competition in the sector. This could be detrimental to the ANZ share price.

The tricky thing for ANZ and others is that if they don’t try to compete, they could lose some of the existing borrowers and fail to win new borrowers.

ANZ has already lost some ground in market share terms after having slow loan processing times during the COVID period. It doesn’t need another reason to fall behind rivals. The banking division of Macquarie Group Ltd (ASX: MQG) is quickly gaining market share, so that’s something else for owners of ANZ shares to keep in mind.

What’s the attraction of ANZ shares?

ANZ is currently trying to acquire the banking division of Suncorp Group Ltd (ASX: SUN). I’m not sure how much more this will add to earnings, the integration could prove to be a big distraction.

For me, the two most attractive things about ANZ are its low price/earnings (P/E) ratio and high dividend yield.

According to Commsec, the ANZ share price is valued at 10 times FY23’s estimated earnings with a possible grossed-up dividend yield of 9.6%. But, if ANZ doesn’t grow earnings then I don’t think the share price is going to go anywhere. It’s not my preferred pick in the sector, though the dividend yield does seem compelling.

The post Should I buy ANZ shares at almost $24? appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Watch out CBA: This ASX 200 bank share is rapidly growing
• How did the ANZ share price manage to beat the other ASX 200 big-four banks in February?
• How I’d invest $200 a month in ASX shares to target a $1,000 passive income
• Why ANZ shares are this broker’s ‘top pick in the sector’
• Why is the ANZ share price tumbling on Wednesday?

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

from The Motley Fool Australia https://ift.tt/3JLR8A6

If you’re looking to bolster your portfolio with some new ASX 100 shares, then you may want to consider the two listed below. Both have recently been named as buys by analysts.

Here’s what they have to say about these ASX 100 shares:

ResMed Inc. (ASX: RMD)

ResMed could be an ASX 100 blue chip share to buy. It is a medical device company which has a focus on sleep treatment solutions.

Over the last decade the company’s revenue and earnings have grown at a very strong rate thanks to the quality of its products and its large and growing market opportunity.

The good news is that due to its massive market opportunity in sleep apnoea, chronic obstructive pulmonary disease (COPD), and home healthcare, ResMed looks well-placed to continue its growth in the future.

Goldman Sachs believes this is the case and is forecasting a earnings per share compound annual growth rate (CAGR) of 11% through to FY 2026. It commented:

Whilst supply shortages and cost inflation mitigated the tailwind from these competitor challenges through FY22, we believe the benefits to RMD are significant, and could continue to accrue over many years. As operational pressures continue to ease we see margin/cost dynamics improving, supporting a favourable earnings trajectory through the long term. We currently model an EPS CAGR of +11% (FY23-26E), with potential upside depending on how competitive/regulatory dynamics develop.

Goldman has a buy rating and $38.00 price target on ResMed’s shares.

Telstra Corporation Ltd (ASX: TLS)

Another ASX 100 share that is rated highly is telco giant Telstra.

After years of earnings declines and dividend cuts, Telstra is back on form and growth is now on the agenda. This has been driven by the success of its transformational T22 strategy and will be supported by the growth-focused T25 strategy.

Morgans is very positive on the company due to favourable industry conditions and the potential for value to be unlocked from asset divestments. It said:

Telco has the strongest tailwinds in a decade with an increasingly rational market, price rises across the majors and the criticality of telco increasingly recognised. The last major mobile operator Vodafone/TPG increased mobile prices by ~$5 per month in January 2023 and all key players are behaving economically rational. This combines with catalysts including the potential for InfraCo value release following the legal restructure.

Morgans currently has an add rating and $4.70 price target on Telstra’s shares.

The post Brokers name 2 blue chip ASX 100 shares to buy appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Here are the 3 most heavily traded ASX 200 shares on Friday
• ASX investors: How to earn $533 each month in passive income
• An ASX 200 dividend heavyweight I’d buy over CBA shares right now
• How I’d invest $20,000 in ASX 200 shares to aim for a million
• Own Telstra shares? Here’s how the ASX 200 telco is raising $650 million

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

from The Motley Fool Australia https://ift.tt/Yev05NE

The last 12 months have brought riches for those invested in these ASX mining shares.

Each of these companies has seen their share prices soar since this time last year, with one posting a whopping 486% gain.

So, which miners have provided such enviable returns? Let’s take a look.

4 ASX mining shares posting 150%+ gains in the last 12 months

The share price of lithium hopeful Winsome Resources Ltd (ASX: WR1) has been on a roll over the last 12 months, leaping 486% in that time to trade at $2.17.

The company is exploring and developing its four Canadian projects, Cancet, Adina, Sirmac-Clappier, and Decelles. Its stock has been bolstered by plenty of positive assay results in recent months.

Joining its ASX mining peer in the long-term green is rare eaths share Arafura Rare Earths Ltd (ASX: ARU). It’s gained 171% over the last 12 months to trade at 55.5 cents today.

It’s progressing with its Nolans Project, located in the Northern Territory. Hyundai and Kia signed offtake agreements for the project’s future production late last year.

From new energy commodities to old ones, coal miner Stanmore Resources Ltd (ASX: SMR) has seen its share price rocket around 200% since this time last year to trade at $3.66 today.

The stock has been bolstered by surging coal prices. The company also snapped up BHP Group Ltd (ASX: BHP)’s metallurgical coal joint venture, closing on an 80% stake around this time last year and acquiring the remaining 20% in October.

Finally, the Latin Resources Ltd (ASX: LRS) share price has surged 180% over the last 12 months. It’s trading at 11.5 cents today.

The ASX mining company is another lithium hopeful. But more than that, it’s also behind a number of projects exploring other critical metals.

Much of the stock’s gains over the last 12 months have come amid news of its Salinas Lithium Project.

The post 4 ASX mining shares that have soared over 150% in a year appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Why Ampol, Arafura, GQG, and Retail Food shares are dropping today
• Arafura share price plummets. Broker tips 28% upside
• Why BHP, Dicker Data, South32, and Winsome Resources are pushing higher
• Why is the Arafura share price storming 7% higher?
• 4 ASX shares to stock up on after a bright reporting season: Morgans

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.

from The Motley Fool Australia https://ift.tt/ARq38lH

With reporting season now over, we look over the results to identify some of the S&P/ASX 200 (ASX: XJO) shares that delivered the highest increases in interim dividends this year.

Income investors, take note. Some of these ASX 200 shares will pay boosted dividends because of higher commodity prices. Others are raising their dividends due to improvements in their businesses.

Either way, dividends have always been a great source of passive income. But they’re even more important in today’s economy, with interest rates rising. One Wall Street veteran says total returns on stock markets around the world are ‘going to come much more from dividends‘ over the near term.

All of these companies below delivered a 25%-or-more boost to their interim dividends for FY23.

Is this the biggest booster among the ASX 200 shares?

It was always going to be hard for any ASX 200 share to beat the inevitable mammoth dividend increase delivered by Whitehaven Coal Ltd (ASX: WHC).

And Australia’s biggest pure-play coal miner did not disappoint, lavishing a 300% boost to its interim dividend on investors thanks to a record half-year net profit after tax (NPAT) of $1.8 billion.

The ASX 200 mining share will pay 32 cents per share fully franked on 10 March.

The record profit was due to skyrocketing coal prices caused by the Russia-Ukraine conflict and the ensuing global energy crisis.

This also led to the Whitehaven share price screaming 261% higher in 2022, making it the best-performing share of the year.

Other companies splashing the cash

ASX financial share Hub24 Ltd (ASX: HUB) will pay an 87% higher interim dividend in FY23 due to an 87% boost to its profit in 1H FY23. Hub24 shares will pay 14 cents per share fully franked on 18 April.

QBE Insurance Group Ltd (ASX: QBE) revealed its full-year results this earnings season. QBE declared a fully franked final dividend of 30 cents per share, up 57% on the final dividend for FY21. The QBE dividend will be paid on 14 April.

IDP Education Ltd (ASX: IEL) reported a 62% NPAT boost in 1H FY23. The ASX 200 education provider announced a 55% increase in its interim dividend to 21 cents per share. The 25%-franked dividend will be paid on 31 March.

The Beach Energy Ltd (ASX: BPT) dividend was doubled this earnings season. The ASX energy share will pay investors a fully franked interim dividend of 2 cents per share on 31 March.

Blackmores Ltd (ASX: BKL) reported a 17.3% NPAT bump to $24.4 million in 1H FY23, which resulted in a 38% increase to its dividend. The ASX 200 vitamin supplements company will pay 87 cents per share fully franked on 28 March.

Woodside Energy Group Ltd (ASX: WDS) delivered its full-year results this earnings season. The company reported an underlying NPAT of US$5.23 billion, up 223% and a record for the ASX energy share.

Woodside boosted its final dividend by 37% to US$1.44 per share fully franked, payable on 5 April.

Finally, Super Retail Group Ltd (ASX: SUL) reported record first-half sales of $1.96 billion, up 15% year over year.

The ASX 200 retail share will pay a fully franked interim dividend of 34 cents per share, up 26%, on 14 April.

The post Passive income watch: Here are the ASX 200 shares that delivered some of the biggest dividend boosts this earnings season appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Here are the 3 most heavily traded ASX 200 shares on Friday
• 5 high-profile ASX 200 shares that will trade ex-dividend on Monday
• 5 things to watch on the ASX 200 on Friday
• Top ASX dividend shares to buy in March 2023
• Here are the top 10 ASX 200 shares today

Motley Fool contributor Bronwyn Allen has positions in Woodside Energy Group. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Hub24, Idp Education, and Super Retail Group. The Motley Fool Australia has positions in and has recommended Hub24 and Super Retail Group. The Motley Fool Australia has recommended Blackmores and Idp Education. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/JSE1Tka

ASX 300 cannabis share Incannex Healthcare Ltd (ASX: IHL) is soaring today after the company announced some positive news.

The Incannex share price is currently 14 cents, up 11.54% for the day so far.

Let’s see what’s happening.

What news pushed this ASX 300 cannabis share higher?

Incannex is a pharmaceutical company developing proprietary medicinal cannabinoid products and psychedelic medicine therapies for conditions including generalised anxiety disorder.

Today, Incannex announced it is going to develop and manufacture its own cGMP-grade psilocybin drug for clinical trials.

In a statement, Incannex CEO Joel Latham said:

Having our own source of pharmaceutical grade psilocybin not only allows our company to freely undertake clinical trials, it also creates and assists with number of commercial opportunities which are currently at an advanced stage of investigation by the company, and will be announced in the coming weeks, following board appraisal and approval.

Incannex has engaged Catalent to develop the formulation.

The company said the manufacturing process would be designed so that it can be scaled up to commercial supply levels when appropriate.

‘Potential to help millions of people’

Incannex chief scientific officer Dr Mark Bleackley said:

The resulting drug product, and supporting data, will form an important component of future regulatory filings and will facilitate Incannex’s development of psilocybin-assisted psychotherapy for Generalised Anxiety Disorder.

This therapy has the potential to help millions of people whose lives are seriously impacted by severe anxiety and for whom current treatment options have not been effective.

Incannex share price snapshot

Cannabis shares are still a highly speculative segment of the share market.

This ASX 300 cannabis share is currently down 18% in the year to date, compared to a 5% bump for the S&P/ASX All Ordinaries Index (ASX: XAO).

Over the past 12 months, Incannex shares are down 78%. Over the past five years, they are up 635%.

The post Why did this ASX 300 cannabis share just rocket 12%? appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• 2 ASX All Ords shares going gangbusters on Monday

Motley Fool contributor Bronwyn Allen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has 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.

from The Motley Fool Australia https://ift.tt/KbasymO

The S&P/ASX 200 Index (ASX: XJO) looks like it’s on track to end the week on a high note. After what has been a rather shaky week of trading, the ASX 200 has powered ahead today, recording a healthy gain of 0.49% at the time of writing. That puts the Index at just over 7,290 points.

What a way to start the weekend. But time now to dive a little deeper into these market moves by taking stock of the shares that are currently topping the ASX 200’s share trading volume charts right now, according to investing.com. 

The 3 most traded ASX 200 shares by volume this Friday

Telstra Group Ltd (ASX: TLS)

First up this Friday is the ASX 200 telco blue chip Telstra. So far today, a hefty 13.47 million Telstra shares have gone through the exchange. There’s been no fresh news out of Telstra that might explain this volume. Saying that, the Telstra share price has been enjoying a lot of love this Friday.

At present, the telco is up a pleasing 1.36% to $4.10 a share after going as low as $4.03 this morning. It seems this gain is responsible for Telstra’s presence here today.

Liontown Resources Ltd (ASX: LTR)

Next, we have ASX 200 lithium share Liontown to consider. Liontown has seen a sizeable 17.21 million of its shares dug up and sold so far this session. There’s been no new news or developments out of Liontown itself either.

But that hasn’t stopped this lithium stock’s share price from rocketing by more than 10.4% today to $1.59 a share at this moment. This could have something to do with some recent love from an ASX broker, but this gain is almost certainly why we are seeing so many shares flying around here.

Pilbara Minerals Ltd (ASX: PLS)

Our third, final and most traded ASX 200 share today is another lithium producer in Pilbara Minerals. This Friday has had a whopping 22.71 million Pilbara shares bought and sold on the markets thus far. There hasn’t been any major news from Pilbara today. But even so, this leading lithium miner has enjoyed a notable 1.96% lift so far this session to $4.16 a share.

That’s despite some significant volatility that we’ve seen today, which has seen this company fluctuate between $4.05 and $4.20 a share all day. All of this bouncing around, as well as the big gain we’re currently seeing, is the most likely explanation as to why it’s Pilbara topping the ASX 200’s volume charts right now.

The post Here are the 3 most heavily traded ASX 200 shares on Friday appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• What’s happening with ASX 200 lithium stocks this week?
• Why Block, Liontown, MMA, and Norwest Energy shares are charging higher today
• 5 high-profile ASX 200 shares that will trade ex-dividend on Monday
• ASX investors: How to earn $533 each month in passive income
• Buy these ASX 200 mining shares before they boom: experts

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

from The Motley Fool Australia https://ift.tt/1DvtWNd

S&P/ASX 200 Index (ASX: XJO) lithium stocks put in a mixed performance this week.

Here’s how Australia’s top five lithium shares have performed since the closing bell rang last Friday:

• Pilbara Minerals Ltd (ASX: PLS) shares are down 9.7%
• Core Lithium Ltd (ASX: CXO) shares are down 1.0%
• Allkem Ltd (ASX: AKE) shares are up 2.6%
• IGO Ltd (ASX: IGO) shares are up 3.2%
• Mineral Resources Ltd (ASX: MIN) shares are up 6.8%

So, what’s been impacting ASX 200 lithium stocks this week?

ASX 200 lithium stocks eye China production curbs

Some surprising news came out of China this week, with lithium ore-processing operations in Yichun, Jiangxi province ordered to halt operations.

This came as Chinese officials launched an investigation into the lithium miners in the province over potential environmental violations. With Yichun producing roughly 10% of the annual global lithium supply, investors in ASX 200 lithium stocks were keeping an eye on the developments.

It remains unclear how long the operations will remain offline.

This week also saw Goldman Sachs come out with a new, decidedly bearish forecast for lithium prices. The broker cited the risk of “higher than expected lithium supply” in China, coupled with ASX 200 lithium stocks “recently outperforming production expectations [and] increasing near term production guidance”.

What helped lift the Mineral Resources and Allkem share prices?

Both Allkem and Mineral Resources are in the green over the week, potentially bolstered by some positive broker coverage.

Analysts at Bell Potter released bullish coverage on Mineral Resources, with a buy rating on the stock and a $110 price target. That’s 21% above the Mineral Resources current share price.

Bell Potter noted that the ASX 200 lithium stock reported a higher profit for the six months ending 31 December than it generated in the entire 12-month period preceding that. And its analysts expect more strong growth ahead.

Meanwhile, Allkem was tipped as a buy this week by Goldman Sachs, despite the broker’s rather dire outlook for lithium prices.

Goldman has a $15.40 12-month price target on Allkem shares, 26% above the current share price. “Allkem has one of the best production outlooks in our lithium coverage,” the broker noted.

Why did the Pilbara Minerals share price underperform this week?

While not accounting for all of this week’s underperformance, much of Pilbara Minerals’ sell-off this week was due to its shares trading ex-dividend yesterday.

A week ago Friday, Pilbara Minerals reported on its half-year results.

On the back of a stellar 989% year on year increase in statutory net profit after tax (NPAT), the ASX 200 lithium stock rewarded investors with its first-ever dividend of 11 cents per share, fully franked.

It’s pretty standard for stocks to lose as much, or slightly more, than their dividend payouts on the day they trade without those rights. And Pilbara Minerals proved no exception.

The post What’s happening with ASX 200 lithium stocks this week? appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#43B02A”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#43B02A”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Buy Minerals Resources shares for 21% upside: broker
• Buy these ASX 200 mining shares before they boom: experts
• Top ASX dividend shares to buy in March 2023
• Here are the top 10 ASX 200 shares today
• Here are the 3 most heavily traded ASX 200 shares 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.

from The Motley Fool Australia https://ift.tt/LJIljBS

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to end the week on a positive note. At the time of writing, the benchmark index is up 0.4% to 7,285.7 points.

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

Block Inc (ASX: SQ2)

The Block share price is up 3% to $114.37. This follows a solid session for the payments company’s shares on the NYSE overnight. The company’s US listed shares rose after investors piled back into tech stocks, driving the NASDAQ index 0.75% higher.

Liontown Resources Ltd (ASX: LTR)

The Liontown share price is up 10% to $1.59. This is despite there being no news out of the lithium developer today. However, as we covered here earlier, the team at Bell Potter sees a lot of value in its shares at the current level. So much so, prior to today, it was predicting 100% upside for its shares over the next 12 months.

MMA Offshore Ltd (ASX: MRM)

The MMA share price is up 8% to $1.22. This morning, this marine and subsea services company revealed that it has been awarded three contracts supporting offshore windfarm developments in Taiwan during 2023. The three contracts will increase the company’s contracted revenue by a total of approximately $30 million and provide for additional potential revenue of approximately $15 million.

Norwest Energy NL (ASX: NWE)

The Norwest Energy share price is up 8% to 6.9 cents. Investors have been buying the energy explorer’s shares after Mineral Resources Ltd (ASX: MIN) made an improved and final takeover offer. It has offered one fully paid ordinary MinRes share for every 1,300 Norwest shares held. This equates to 7 cents per share based on the current Mineral Resources share price.

The post Why Block, Liontown, MMA, and Norwest Energy shares are charging higher today appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#43B02A”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#43B02A”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Buy Liontown shares for 100% upside: broker
• 4 ASX 200 lithium shares to buy now: broker
• Top ASX shares to buy in March 2023
• Roar! Broker initiates coverage on Liontown shares with buy rating
• Here 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 Block. The Motley Fool Australia has positions in and has recommended Block. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/vwHQbKS

The S&P/ASX 200 Index (ASX: XJO) is on course to end the week with a decent gain. In afternoon trade, the benchmark index is up 0.4% to 7,285 points.

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

Ampol Ltd (ASX: ALD)

The Ampol share price is down over 5% to $31.22. The catalyst for this has been the fuel retailer’s shares going ex-dividend this morning for its fully franked $1.55 per share final dividend for FY 2022. Eligible shareholders can now look forward to receiving this dividend at the end of the month on 30 March.

Arafura Rare Earths Ltd (ASX: ARU)

The Arafura share price is down 9% to 55.5 cents. This appears to have been driven by comments out of Tesla at its investor day. The electric vehicle giant revealed that it plans to drop the use of rare earths in its future electric vehicle models due to health and environmental risks that come with mining the critical minerals.

GQG Partners Inc (ASX: GQG)

The GQG share price is down 3% to $1.44. This may have been caused by reports that GQG is investing heavily in the Adani empire. According to the AFR, the company has poured $2.8 billion in four Adani companies. It believes an activist short seller attack has created significant value for investors.

Retail Food Group Ltd (ASX: RFG)

The Retail Food share price is down 7% to 7.9 cents. This morning, this embattled quick service restaurant operator announced firm commitments to raise $24.9 million via a share placement to sophisticated and institutional investors. These funds will be raised at 8 cents per share, with the proceeds used to reset its balance sheet and support growth opportunities.

The post Why Ampol, Arafura, GQG, and Retail Food shares are dropping today appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Arafura share price plummets. Broker tips 28% upside
• 3 ASX 200 shares trading ex-dividend on Friday
• 5 things to watch on the ASX 200 on Friday
• Why is the Arafura share price storming 7% higher?
• 7 ASX 200 shares with ex-dividend dates next 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 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.

from The Motley Fool Australia https://ift.tt/TN6HAJb