Shares in S&P/ASX 200 Index (ASX: XJO) mining giant Fortescue Metals Group Ltd (ASX: FMG) have had a stellar run over the past five years, surging by more than 300%.

And during this time, the iron ore miner’s executive chair, Andrew ‘Twiggy’ Forrest, has never been far from the headlines.

Love him or loath him, most Aussies with even a passing interest in investing would likely agree that Twiggy is one of the local bourse’s highest-profile (and, arguably, divisive) leaders.

He established Fortescue just 20 years ago, building it up to become the $70 billion global behemoth it is today.

But what of Twiggy’s green hydrogen dreams? Will these ambitious plans be the making or the undoing of the ASX’s eighth-biggest company?

For their thoughts on whether Fortescue can continue delivering share price gains and decent dividends for its shareholders, we decided to ask two of our Foolish writers: one bull and one bear.

Here is what they said:

Bull thesis

By Tristan Harrison: The Fortescue share price has risen by 50% since 31 October 2022, with the iron ore price climbing to its current level of around US$129 per tonne (at the time of writing), according to Commsec.

In the short term, movements of the iron ore price will likely be the strongest influence on investor sentiment surrounding Fortescue. If the iron price drops, then Fortescue shares would likely fall too.

But, the Chinese economy isn’t firing on all cylinders (yet), according to CNBC reporting. With lockdowns largely over and economic ties with the West improving, there could be another period of heightened demand for iron ore (and, therefore stronger profits for Fortescue), particularly if the Chinese government implements more growth policies focused on infrastructure and construction.

Goldman Sachs has also predicted that the iron ore price could rise by 20% to reach US$150 per tonne over the next few months, according to reporting by the Australian Financial Review. This could provide another potential boost for the Fortescue share price moving forward.

Another potential tailwind for Fortescue is that it’s working on unlocking the huge Belinga iron ore project in Africa. This could help drive future earnings and add geographic diversification to the company’s iron portfolio.  

But iron isn’t my main reason for optimism about Fortescue shares.

I think that Fortscue Future Industries (FFI) is unlocking a very large avenue of growth for the company, which could already be worth many billions.

It’s aiming to produce 15mt of green hydrogen by 2030 which, according to management, is “very achievable”.

FFI already has customers lining up to buy some of that output, including European multinational utility operator E-ON, which could buy a third of the production by 2030. Once hydrogen production is up and running, I believe it will start generating meaningful earnings for Fortescue.

Decarbonising the planet could cost trillions of dollars according to various estimates. While this presents a cost for some, it creates a significant revenue opportunity for others. To this end, FFI is working on a global portfolio of green projects, on every populated continent.

Furthermore, heavy machinery, planes, and ships use vast amounts of fuel. This could be replaced by green hydrogen/green ammonia in the future, potentially unlocking a huge earnings stream for Fortescue over the coming decades.

FFI is also working on building a leading, global high-performance battery business with its WAE acquisition.

For these reasons, I believe Fortescue shares have a positive future, with the green side of the business potentially unlocking many billions of dollars in value. Whilst the shorter-term outlook could be volatile for the Fortescue share price, I’m staying focused on the long-term investment outlook.

Motley Fool contributor Tristan Harrison owns shares in Fortescue Metals Group Ltd.

Bear thesis

By James Mickleboro: Although Fortescue is undoubtedly a high-quality mining company, I believe its shares are vastly overvalued at current levels and could be about to begin a multi-year slide downwards.

The main reason for this is that the company’s noble but costly decarbonisation plans look set to consume large amounts of its free cash flow and put significant pressure on its dividend payments.

If I were to say that Fortescue shares will soon provide investors with a 2% dividend yield, I wonder how many would be willing to hold onto them at current levels. My bet is very few. Particularly when you can earn a greater risk-free return from term deposits.

Well, the bad news is that a number of brokers believe that this could be the case in just two short years.

For example, Goldman Sachs is forecasting dividends per share of 38 US cents in FY 2024, 31 US cents in FY 2025, and then 32 US cents through to FY 2027. Based on the current Fortescue share price and exchange rates, this will mean yields of 2.5%, 2%, and then 2.05%, respectively.

Elsewhere, Morgans is a little more upbeat and expects yields of 3.6% in FY 2024 and then 2.2% in FY 2025. Though, it warns that Fortescue could even struggle to pay these dividends if iron ore prices are softer than expected. This could see management forced to lower its target payout ratio to support the high capital intensity of the FFI business.

But it’s not just dividends that make me bearish on Fortescue’s shares. It is also the company’s valuation compared with more diversified peers.

While Fortescue may look like good buying based on its price-to-earnings (P/E) ratio of around 8 times, this multiple is not widely recommended for valuing mining shares as it tends to make them look cheap in comparison to shares in other sectors.

Instead, Goldman Sachs uses the price-to-net-asset-value (NAV) ratio for valuing mining shares. 

And despite the uncertain outlook for the miner, the broker notes that Fortescue trades at a sizeable 1.6 times NAV. As a comparison, BHP Group Ltd (ASX: BHP) trades at 1.1 times NAV and Rio Tinto Ltd (ASX: RIO) shares are changing hands at 0.9 times NAV.

Overall, I believe the risk/reward on offer with Fortescue shares is extremely unfavourable and, thus, I’d urge investors to stay clear of the ASX 200 miner.

Motley Fool contributor James Mickleboro does not own shares in Fortescue Metals Group Ltd.

The post Fortescue shares: Bull vs. Bear appeared first on The Motley Fool Australia.

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More reading

• Why has the Fortescue share price hit a new 52-week high today?
• Goldman tips 20% surge in iron ore price. Should I buy ASX 200 mining shares?
• Passive income watch: 3 ASX 200 shares that slashed their dividends this week
• Should I buy Fortescue shares following the ASX 200 miner’s latest results?
• Here’s what you need to know about the latest Fortescue dividend

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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Are you looking for dividend shares to buy this week?

If you are, you may want to check out the two listed below that have been tipped to provide big yields in 2023 and 2024.

Here’s what you need to know about these ASX dividend shares today:

QBE Insurance Group Ltd (ASX: QBE)

The first ASX 200 dividend share that has been tipped as a buy is insurance giant QBE.

Morgans is positive on the company and was very impressed with its recent full year results release. The good news is that the broker believes it is well-placed to build on this in FY 2023 and FY 2024. It commented:

QBE’s FY22 result NPAT (US$770m) was an 18% beat versus consensus, with the 2H22 dividend (A30cps) 11% above consensus. Overall, in our view, this was a very strong FY22 performance versus market expectations.

Heading into FY23, the key tailwinds are premium rate increases and higher investment income which remain supportive of earnings growth, as highlighted by QBE expecting a mid-teens ROE versus 10.5% in FY22.

The broker expects this strong form to underpin dividends per share of 83 cents in FY 2023 and 94 cents in FY 2024. Based on the latest QBE share price of $15.00, this equates to yields of 5.5% and 6.3%, respectively.

Morgans has an add rating and $16.96 price target on its shares.

Westpac Banking Corp (ASX: WBC)

Another ASX 200 dividend share that has been tipped as a buy is Westpac.

It is one of the big four players in the Australian market and the owner of the Westpac, Bank SA, Bank of Melbourne, Rams, and St George brands.

Goldman Sachs is very positive on the bank and believes it is well-placed for earnings and dividend growth thanks to rising interest rates and its cost cutting plans. In respect to the latter, it said:

Despite WBC recently revising its FY24E cost target to A$8.6 bn (from A$8.0 bn), the bank’s performance on cost management remains strong in this inflationary environment with a 9% step down in underlying costs expected over the next two years.

The broker expects this to lead to fully franked dividends per share of 147 cents in FY 2023 and 156 cents in FY 2024. Based on the current Westpac share price of $22.84, this will mean yields of 6.4% and 6.9%, respectively.

Goldman Sachs has a conviction buy rating and $27.74 price target on the bank’s shares.

The post Expect big yields from these ASX 200 dividend shares in 2023 and 2024: brokers appeared first on The Motley Fool Australia.

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• Did you buy $5,000 of Westpac shares 5 years ago? If so, here’s how much dividend income you’ve earned
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• Why A2 Milk, Piedmont Lithium, QBE, and Super Retail shares are racing higher

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 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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Are you wanting to add some ASX tech shares to your portfolio before the sector rebounds fully?

If you are, then you may want to look at the two listed below that have been tipped as buys with 30%+ upside by brokers.

Here’s what they are saying about these ASX tech shares:

NextDC Ltd (ASX: NXT)

The first ASX tech share that brokers rate as a buy is NextDC.

It is involved in the development and operation of independent data centres in Australia. NextDC has a focus on providing scalable, on-demand services to support outsourced data centre infrastructure and cloud connectivity for enterprises of all sizes.

Morgans is positive on the data centre operator and believes it is well-placed for growth thanks to the structural shift to the cloud and its new developments. It commented:

NXT should deliver another good set of results in FY23 with some upside risk to guidance, in our view. Structural demand for cloud and colocation remains incredibly strong. NXT’s new S3 and M3 data centres are now open. Consequently, we expect significant new customer wins over the next six-to-twelve months (including CSP options being exercised). Sales should drive the share price higher. NXT looks comfortably on-track to generate over $300m of EBITDA in the next three to five years.

Morgans has an add rating and $13.30 price target on NextDC’s shares. This compares to the latest NextDC share price of $10.11.

Readytech Holdings Ltd (ASX: RDY)

Another ASX tech share that has been named as a buy is this leading provider of mission-critical software-as-a-service (SaaS) solutions.

ReadyTech provides these solutions to defensive end-markets such as education, employment services, workforce management, government, and justice sectors. This bodes well in the current environment where some businesses are cutting back on spending.

It is for this reason and its attractive valuation that Goldman Sachs is very positive on the company. It commented:

RDY remains a tech value play within our coverage universe, trading at a >50% discount to peers when accounting for its robust growth outlook. Government software has been a pocket of strength and resilience within TMT (~3/4 of RDY’s earnings) and we are positive on RDY’s ability to deliver mid-teens organic growth at an expanding profit margin through the cycle.

Goldman has put a buy rating and $4.45 price target on its shares. This compares to the current ReadyTech share price of $3.59.

The post These ASX tech shares are buys with 30%+ upside: brokers appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has positions in Nextdc. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended ReadyTech. The Motley Fool Australia has recommended ReadyTech. 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 good thing about exchange traded funds (ETFs) is that they offer investors ways to invest in groups of shares that fit their investment objectives.

For example, the two ETFs listed below provide investors with access to two very different groups of shares. One could be suitable for income investors, whereas the other may suit investors looking for growth.

Here’s what you need to know about them:

BetaShares Global Cybersecurity ETF (ASX: HACK)

Investors that are looking for growth options might want to consider the BetaShares Global Cybersecurity ETF.

This ETF gives investors access to the leading players in the global cybersecurity sector. This includes high quality, growing companies such as Accenture, Cloudflare, Crowdstrike, Okta, and Palo Alto Networks.

As you saw with the Optus and Medibank Private Ltd (ASX: MPL) cyberattacks last year, cybersecurity is becoming incredibly important for businesses and consumers. With sensitive information being accessed by hackers, both companies are facing major reputational damage and potential penalties and compensation.

And with cyberattacks expected to increase in the future, demand for cybersecurity services is forecast to grow materially over the coming years. This bodes well for this ETF and its holdings.

Vanguard Australian Shares High Yield ETF (ASX: VHY)

If you’re looking for income options, the Vanguard Australian Shares High Yield ETF could be a top option.

As you might have guessed from its name, this ETF provides investors with exposure to ASX-listed shares that have higher than average forecast dividends. This is a diverse group of shares, with Vanguard ensuring that you don’t get lumped with just miners or banks.

Among the shares included in the fund are Rio Tinto Ltd (ASX: RIO), Telstra Corporation Ltd (ASX: TLS), and Westpac Banking Corp (ASX: WBC). The Vanguard Australian Shares High Yield ETF currently trades with an estimated forward dividend yield of 5.6%.

The post Buy these ETFs for passive income and growth 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 positions in and has recommended BetaShares Global Cybersecurity ETF. The Motley Fool Australia has positions in and has recommended BetaShares Global Cybersecurity ETF. The Motley Fool Australia has recommended Vanguard Australian Shares High Yield ETF. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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It ended up being a pretty dreary day for ASX shares and the All Ordinaries Index (ASX: XAO) this Tuesday. By the end of trading, the All Ords had slipped by 0.1% down to just under 7,550 points. But it was a different story altogether when it came to the Arafura Rare Earths Ltd (ASX: ARU) share price.

This All Ords rare earths share had an absolutely cracking day today. Arafura closed at 60 cents each yesterday and opened at 62 cents this morning. But by the end of the session, the company was commanding a share price of 66 cents each, a pleasing 9.09% lift.

So what on earth went on today that prompted this dramatic rise in Arafura’s value?

Why was the Arafura share price on fire today?

Well, unfortunately, it’s not entirely clear. There hasn’t been any major news or announcements out of Arafura this week so far.

However, we have seen some similar, albeit not quite as enthusiastic moves, amongst some of Arafura’s nearest and dearest. Its larger cousin Lynas Rare Earths Ltd (ASX: LYC) also had a good day, rising by 1.2% to $8.43 a share.

And we also saw some big moves in the lithium space.

Leading lithium stock Pilbara Minerals ended up lifting by 4.52% to $4.39 a share. Sayona Mining Ltd (ASX: SYA) was up 4.88% to 21.5 cents a share, while Liontown Resources Limited (ASX: LTR) was up close to 4%.

So it looks like investors were just caught up in a wave of goodwill towards future-facing ASX shares in the lithium and rare earths space today. That is the best explanation we have for why the Arafura Rare Earths share price had such a cracking Tuesday.

But this only continues the absolutely stellar year this company has had so far in 2023. Year to date, Arafura is now up an impressive 47% or so, smashing the returns of the broader market:

Earlier this month, my Fool colleague Brooke looked at some of the reasons investors have been buying into Arafura of late, so make sure to check that out.

No doubt investors will be hoping that this run for the Arafura share price continues.

The post Why did the Arafura share price charge 10% higher on Tuesday? appeared first on The Motley Fool Australia.

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• Why has ASX 300 rare earths stock Arafura rocketed 40% in 2023?
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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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While BHP Group Ltd (ASX: BHP) took the headlines today with its half-year results, it wasn’t the only ASX 200 mining share to release an update.

Two ASX 200 mining shares that moved in different directions on Tuesday following the release of their respective updates are listed below. Here’s how they performed:

Iluka Resources Limited (ASX: ILU)

The Iluka share price ended the day in the red despite the mineral sands producer releasing a strong full-year result.

Iluka reported a 16% increase in revenue to $1,727 million and a 45% jump in EBITDA to $917 million. Management advised that this reflects a resilient mineral sands market in the face of macroeconomic and geopolitical uncertainty. In addition, it notes that tight supply and low inventories have led to customers prioritising security and reliability of supply, particularly for high grade and quality products produced in Australia.

Iluka declared a final dividend of 20 cents per share, bringing its full-year dividend to 45 cents per share.

Ramelius Resources Limited (ASX: RMS)

Conversely, the Ramelius share price ended the day over 4% higher despite the release of a poor half-year update.

Ramelius reported a small decline in sales revenue to $304.8 million and a 33.7% decline in underlying EBITDA to $106.3 million. This was driven by a sizeable jump in its all-in sustaining costs (ASIC) to $2,044 per ounce from $1,473 per ounce a year earlier.

Management blamed this on cost pressures seen across the business, lower grades at Mt Magnet, as well as ongoing impacts on productivity from higher employee turnover and absenteeism from COVID related illnesses.

One positive is that the company has reaffirmed its FY 2023 production guidance of 240,000 to 280,000 ounces at an AISC of $1,750 to $1,950 per ounce.

The post 2 ASX 200 mining shares making moves on earnings updates appeared first on The Motley Fool Australia.

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The S&P/ASX 200 Index (ASX: XJO) traded in the red on Tuesday, falling 0.21% to close at 7,336.3 points.

Its dip came amid a particularly busy earnings season session, with more than a dozen market giants posting results.

Among them were BHP Group Ltd (ASX: BHP), Coles Group Ltd (ASX: COL), and Tabcorp Holdings Limited (ASX: TAH).

Meanwhile, the Reserve Bank of Australia released the minutes of its February meeting, stating it didn’t even consider not hiking rates earlier this month. Instead, the central bank debated between a 0.25% rise and a 0.5% rise.

The S&P/ASX 200 Materials Index (ASX: XMJ) was today’s top-performing sector, rising 0.6% despite the BHP share price sliding on the mining giant’s first-half earnings.

Though, many of the company’s iron ore-focused peers posted strong gains amid one top broker’s positive outlook for the steel-making ingredient’s price.

Meanwhile, the S&P/ASX 200 Communications Index (ASX: XTJ) weighed heaviest, falling 1.2%.

But which ASX 200 shares posted the biggest gain on the index today? Let’s take a look.

Top 10 ASX 200 shares countdown

Today’s top-performing ASX 200 share was Johns Lyng Group Ltd (ASX: JLG) after the building services company dropped its earnings for the first half.

It revealed an 84% jump in post-tax profit and hiked its dividend by 67% to 4.5 cents per share.

These shares made today’s biggest gains:

ASX-listed company	Share price	Price change
Johns Lyng Group Ltd (ASX: JLG)	$6.34	13.21%
Hub24 Ltd (ASX: HUB)	$29.09	7.74%
Sayona Mining Ltd (ASX: SYA)	$0.215	4.88%
Pilbara Minerals Ltd (ASX: PLS)	$4.39	4.52%
Nickel Industries Ltd (ASX: NIC)	$1.065	4.41%
BlueScope Steel Limited (ASX: BSL)	$18.62	4.37%
Ramelius Resources Limited (ASX: RMS)	$0.865	4.22%
Tabcorp Holdings Limited (ASX: TAH)	$1.04	4%
Liontown Resources Ltd (ASX: LTR)	$1.34	3.88%
Mineral Resources Ltd (ASX: MIN)	$84.97	3.81%

Our top 10 shares countdown is a recurring end-of-day summary to let you know which companies were making big moves on the day. Check in at Fool.com.au after the weekday market closes to see which stocks make the countdown.

The post Here are the top 10 ASX 200 shares today appeared first on The Motley Fool Australia.

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• 2 ASX 200 mining shares making moves on earnings updates
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• Why Hub24, Johns Lyng, Judo Capital, and Magnis shares are charging higher
• Why is the Core Lithium share price rebounding 5% on Tuesday?

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Hub24 and Johns Lyng Group. The Motley Fool Australia has positions in and has recommended Coles Group and Hub24. The Motley Fool Australia has recommended Johns Lyng 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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It has been a much better day for ASX 200 lithium shares on Tuesday.

After a heavy decline on Monday, they are rebounding strongly this afternoon.

ASX lithium shares rebound

Here’s what is happening in the lithium industry today:

• The Allkem Ltd(ASX: AKE) share price is up 3%
• The Core Lithium Ltd(ASX: CXO) share price is up 4%
• The IGO Ltd (ASX: IGO) share price is up 2%
• The Lake Resources N.L.(ASX: LKE) share price is up 4%
• The Liontown Resources Ltd(ASX: LTR) share price is up 4%
• The Pilbara Minerals Ltd(ASX: PLS) share price is up 4%

What’s happening?

On Monday, investors were selling off ASX lithium shares amid news that the world’s largest battery maker, CATL, is offering discounts to Chinese automakers.

According to Reuters, these discounts are being offered in response to a downturn in the price of lithium and a bid to win more orders. This sparked fears that this was an indication that CATL believes prices are going to be coming down rapidly from recent highs.

However, a note out of Canaccord Genuity this morning could have eased investor nerves. It has responded positively to an update out of Pilbara Minerals on Monday regarding a new sales arrangement for a 15,000 tonne cargo of spodumene concentrate.

This agreement has been structured to be based on a tolling arrangement under which Pilbara Minerals will receive the value of lithium hydroxide price for the product sold less an agreed amount for conversion and other costs.

Canaccord Genuity was pleased with the news and notes that the pricing implied by the agreement is “well north of our US$4,500/t MarQ’23 assumption and US$3,500/t JunQ’23 assumption.”

All in all, the broker appears confident that Pilbara Minerals is well-placed to deliver strong earnings in the near term and appears to see recent weakness is a buying opportunity. As a result, it has retained its buy rating and $5.00 price target on this ASX 200 lithium share.

Investors appear hopeful that sky high prices may not be over as feared, at least for now.

The post Why are ASX 200 lithium shares having such a stellar run today? appeared first on The Motley Fool Australia.

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• Here are the 3 most heavily traded ASX 200 shares on Tuesday
• Why is the Core Lithium share price rebounding 5% on Tuesday?
• At under 30 cents each, are these ASX lithium stocks cheap?
• Should I dig in and buy Pilbara Minerals shares before the ASX 200 lithium miner reports on Thursday?
• Here are the 3 most heavily traded ASX 200 shares on Monday

Motley Fool contributor James Mickleboro has positions in Allkem. 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 is having a bit of a shaky session so far this Tuesday. At the time of writing, the index has retreated from yesterday’s close, currently down 0.19% at just over 7,335 points.

It was even worse for the ASX 200 earlier this morning too, with the market sinking down to below 7,300 points at one point.

But rather than letting all that get us down, let’s turn our attention to the stocks that are currently at the top of the ASX 200’s share trading volume charts at present, according to investing.com.

The 3 most traded ASX 200 shares by volume this Tuesday

Pilbara Minerals Ltd (ASX: PLS)

Our pioneering share today in terms of trading volumes is the ASX 200 lithium producer Pilbara Minerals. So far this session, a notable 16 million Pilbara shares have traded hands as it currently stands. There’s been no new news or announcements out of Pilbara itself today.

However, the company, alongside most other ASX lithium stocks, has experienced a pretty massive share price gain all the same. My Fool colleague went into this sector-wide love earlier this afternoon.

At present, Pilbara shares have enjoyed a 4.4% jump in value to $4.38 a share, which is probably the reason we are seeing so many shares flying around.

Sayona Mining Ltd (ASX: SYA)

Next up we have another ASX 200 lithium stock in Sayona Mining. This Tuesday has had an impressive 16.78 million Sayona shares find a new home thus far.

We haven’t had any fresh news out of Sayona today either. So again, it seems this is a similar situation to that of Pilbara. In Sayona Mining’s case, the company has lifted by a chunky 5.85% at present to 22 cents a share. No wonder so many shares have been traded after a gain of this size.

Mirvac Group (ASX: MGR)

Finally today, we have the ASX 200 real estate investment trust (REIT) Mirvac Group. Mirav has seen a whopping 44.73 million of its units exchanged on the ASX at this point of the trading day.

With no developments out of this REIT, it seems that once again we have to look to this trust’s unit price movements for an explanation. And Mirvac has indeed had quite a volatile day.

Investors started Mirvac out strong this morning, with the REIT rising as high as $2.25 per unit. But investors seem to have gotten a case of the cold feet, seeing as Mirvac has now swung into the red zone.

Right now, Mirvac is going for $2.22 per unit, down by 0.45% this session, after going as low as $2.20 earlier this afternoon. This bouncing around is probably the cause of the elevated volumes we are witnessing.

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

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More reading

• 3 ASX 200 stocks falling hard on results announcements
• Why is the Core Lithium share price rebounding 5% on Tuesday?
• At under 30 cents each, are these ASX lithium stocks cheap?
• 2 ASX 200 consumer shares tumbling lower on earnings updates
• Goldman tips 20% surge in iron ore price. Should I buy ASX 200 mining shares?

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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These three stocks are joining the S&P/ASX 200 Index (ASX: XJO) in the red on Tuesday as they tumble on the back of earnings releases.

In fact, they’re down by as much as 8.74% right now. At the same time, the ASX 200 is down 0.16% at 7,339.8 points right now.

Let’s take a closer look.

3 ASX 200 stocks tumbling on earnings

First off the bat, the Monadelphous Group Ltd (ASX: MND) share price is plummeting 8.74% to trade at $12.74 at the time of writing.

It comes after the ASX 200 engineering group posted a 10.5% drop in revenue for the first half, coming in at $953 million. Meanwhile, its net profit after tax (NPAT) fell 3.1% to $29.1 million.

Its dividend for the period was flat with that of the prior year at 24 cents per share fully franked.

But it wasn’t all bland. Monadelphous’ maintenance and industrial services division posted a record half, with $676.8 million of revenue coming in – a 13.5% jump on strong commodity prices, high production, and aging infrastructure.

Its engineering construction division, meanwhile, saw revenue slump 42.1% to $277.7 million. Its fall came after numerous construction projects completed in the prior financial year.

Joining Monadelphous’ stock in the red is that of ASX 200 diversified property group Stockland Corporation Ltd (ASX: SGP). Its stock is down 3.47% right now, trading at $3.755.

That’s despite its funds from operations lifting 0.7% to $353 million in the first half.

However, its statutory profit came in 64.6% lower that of the prior comparable period at $301 million. Last half saw a $30 million uplift in commercial property revaluation gains compared to $543 million in the prior period.

It also dropped its residential settlement expectations for financial year 2023 from around 6,000 to around 5,500 on the back of weather-related delays.

Stockland declared an 11.8 cents per share interim dividend – 19.2% lower than that of last financial year.

Finally, stock in ASX 200 fuel refiner and retailer Viva Energy Group Ltd (ASX: VEA) is tumbling. That’s despite the company posting record full-year earnings this morning.

Its earnings before interest, tax, depreciation, and amortisation (EBITDA) on a replacement cost basis came in at a record $1.1 billion. That marked a 122% year-on-year improvement.

Meanwhile, its NPAT more than tripled to $596.6 million. Its full-year dividends also rose 270% higher year-on-year to 27 cents per share.

However, the market appears to have expected more. The stock is trading at $2.925, a 3.47% fall.

The post 3 ASX 200 stocks falling hard on results announcements appeared first on The Motley Fool Australia.

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More reading

• 2 ASX 200 consumer shares tumbling lower on earnings updates
• Goldman tips 20% surge in iron ore price. Should I buy ASX 200 mining shares?
• 5 things to watch on the ASX 200 on Tuesday
• Here are the top 10 ASX 200 shares today
• Here are the 3 most heavily traded ASX 200 shares on Monday

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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