Shares vs. property: It’s an age-old debate as to which investment is best, and if you happen to own both and want to monitor the monthly performance of each, we’ve got you covered.

The latest data from CoreLogic reveals the median Australian house price increased by 0.5% in January. That’s up on December’s 0.4% rise but down from the 0.7% growth seen in November.

CoreLogic research director Tim Lawless said house values continued to rise faster than unit values. The price gap between the house and apartment medians rose to a record high of 45.2% in January.

Despite high interest rates and cost-of-living pressures, Lawless said property sales volumes remained elevated due to strong migration (518,000 people net in 2023) and an extremely tight rental market likely incentivising renters to buy.

Recent data from the Bureau of Statistics backs this up. The number of loans written for first-home buyers increased by 20% over the 12 months to November 2023.

Shares vs. property price growth in January

Here is how shares vs. property performed in terms of price growth in the month of January.

Property market	Median house price	Price growth in January	12-month price growth
Sydney	$1,400,630	0.2%	12.5%
Melbourne	$948,041	(0.4%)	3.8%
Brisbane	$875,991	1%	13.3%
Adelaide	$763,606	1.3%	8.6%
Perth	$691,100	1.6%	15.6%
Hobart	$700,810	(0.5%)	(1.1%)
Darwin	$578,741	0.5%	(0.2%)
Canberra	$967,864	0%	1%
Regional New South Wales	$739,067	0.2%	2.4%
Regional Victoria	$598,608	0%	(1.7%)
Regional Queensland	$615,169	0.3%	8.6%
Regional South Australia	$398,915	0.4%	9.6%
Regional Western Australia	$477,690	0.8%	8.2%
Regional Tasmania	$528,046	(0.6%)	(0.2%)
Regional Northern Territory	$446,345	1.8%	(4%)

Source: CoreLogic

Top 5 risers of the ASX 200 in January

The S&P/ASX 200 Index (ASX: XJO) appreciated by 1.18% in January.

According to CommSec data, these ASX 200 shares below were the top risers of the month.

ASX 200 share	Share price growth in January
Boss Energy Ltd (ASX: BOE)	38.21%
Megaport Ltd (ASX: MP1)	38.15%
Paladin Energy Ltd (ASX: PDN)	31.47%
Alumina Limited (ASX: AWC)	28.73%
Elders Ltd (ASX: ELD)	19.26%

Source: CommSec

Check out how ASX shares vs. property performed in 2023 here.

The post How ASX shares vs. property performed in January appeared first on The Motley Fool Australia.

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

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BHP Group Ltd (ASX: BHP) stock and two other ASX mining giants are on watch in 2024, but for differing reasons.

Let’s take a look at the 12-month share price targets on three popular ASX mining stocks, and the outlook for the commodity prices relevant to each of these companies.

BHP Group Ltd (ASX: BHP)

The BHP stock price is $47, down 0.57% at the time of writing on Thursday. Goldman Sachs has a 12-month price target of $50.50 on BHP shares.

BHP mines iron ore, copper, metallurgical coal, and nickel. It’s also developing a potash operation.

In a recent report, Goldman said iron ore (62% Fe) averaged US$120 per tonne (pt) in 2023, steady on 2022. The broker estimates an average price of $US110 pt in 2024 and US$95 pt in 2025.

Copper averaged US$3.85 per pound (pp) in 2023, down from US$4 pp in 2022. The broker estimates US$4.17 in 2024 and US$4.76 in 2025.

Semi-soft (SSCC) coal averaged US$195 pt in 2023, down from US$287 pt in 2022. Goldman estimates US$168 pt in 2024 and US$130 in 2025.

Nickel averaged US$9.74 pp in 2023, down from US$11.66 in 2022. Goldman estimates US$7.26 pp in 2024 and $US7.03 pp in 2025.

Potash averaged US$500 pt in 2023, up from US$359 pt in 2022. The broker anticipates an average of US$450 pt in 2024 and US$463 pt in 2025.

Goldman maintains its buy rating on BHP stock, explaining:

We are Buy rated on: (1) Attractive valuation, but at a premium to RIO; o (2) GS bullish copper and met coal; (3) Optionality with +US$20bn copper pipeline and improved production growth; (4) Robust FCF, but still below RIO. We continue to believe that BHP’s major opportunity is growing copper production in Chile at Escondida and Spence, and growing copper production and capturing synergies in South Australia between Olympic Dam and the previous OZL assets.

Rio Tinto Ltd (ASX: RIO)

The Rio Tinto share price is $131.96, down 0.72% today. Goldman has a 12-month share price target of $141.80 on Rio Tinto stock.

Rio Tinto’s main commodities are iron ore, copper, aluminium and lithium.

According to Goldman’s report, aluminium averaged US$1.02 pp in 2023, down from US$1.23 pp in 2022. The broker estimates an average price of US$1.13 pp in 2024 and US$1.27 pp in 2025.

Lithium carbonate averaged US$32,694 pt in 2023, down from US$63,232 in 2022. The broker anticipates an average price of US$12,847pt in 2024 and US$11,000 pt in 2025.

The broker has a buy rating on Rio Tinto shares, explaining:

We are Buy rated on: (1) compelling relative valuation vs. peers, (2) attractive FCF and Div yield (expect 75% payout for final div), (3) strong production growth in 2024-2025 of 5-6% CuEq driven by the ramp-up of the Oyu Tolgoi UG copper mine & a recovery at Escondida and Bingham, (4) potential for FCF/t improvement in the Pilbara, and (5) high margin low emission aluminium.

Pilbara Minerals Ltd (ASX: PLS)

The Pilbara Minerals share price is $3.51, down 1.27% on Thursday. Goldman has a 12-month price target of $2.95 on this pure-play ASX lithium share. Pilbara Minerals shares haven’t traded below $3 since August 2022.

The lithium market is currently oversupplied, and this continues to weigh on lithium commodity prices. The lithium carbonate price fell another 1% in January and is down about 80% over 12 months.

Demand for electric vehicles (EVs) globally is stalling, which is affecting demand for batteries and raw lithium. Goldman notes that while Chinese EV sales and battery output continue to rise, a phase-out of subsidies and supply chain normalisation have weighed on the pace of growth.

As such, the GS commodity team expect the lithium market to be in a 202kt surplus in 2024 (17% of global demand) and continue to expect prices to trade deeply into the cost curve to balance the market.

But EVs still have a big future in our decarbonising world. So, Pilbara Minerals is a stock to watch in 2024 because, at some point, it may become a fantastic buy-and-hold opportunity for the long term.

For now, Goldman has a sell rating on Pilbara Minerals stock. This is primarily due to valuation, as the broker explains:

We see near-term FCF continuing to decline on lithium prices and 1. increasing growth spend, where we see PLS spending ~A$0.85bn on P1400, taking total capex spend from FY24E to FY28E on current and P1400 expansions to ~A$3bn, ~A$0.9bn ahead of consensus which already prices further expansion.

Furthermore, we see PLS’ net cash declining to ~A$1bn (though still a relatively strong position vs. some peers and defensive into a declining lithium price), where with the stock trading at a premium to peers and relatively expensive on fundamentals.

The broker adds that an anticipated doubling in production over five years with further optionality is “more than priced in”.

The post BHP stock and more: 3 ASX commodity titans to watch in 2024 appeared first on The Motley Fool Australia.

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• Top 5 most profitable ASX large-cap shares of 2023

Motley Fool contributor Bronwyn Allen has positions in BHP Group. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group. 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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Woodside Energy Group Ltd (ASX: WDS) shares are joining in the broader market sell-down today.

Shares in the S&P/ASX 200 Index (ASX: XJO) energy stock could be facing some additional pressure from a 1.4% overnight drop in the Brent crude oil price. Brent slid to US$81.72 per barrel, amid news of swelling crude production in the United States.

Woodside shares closed yesterday trading for $32.41. In afternoon trade on Thursday, shares are swapping hands for $32.09 apiece, down 1%.

The ASX 200 is also down 1% at this same time.

That’s the latest price action for you.

Now, here’s why Woodside shares are making news this week.

What’s putting Woodside shares in the news

In an Australian first, Woodside announced that it has joined the United Nations Environment Programme (UNEP) Oil & Gas Methane Partnership 2.0 (OGMP 2.0).

The program provides a measurement-based reporting framework to help improve the accuracy and transparency of methane emission reporting.

Oil and gas production comes with significant methane emissions, which has previously seen Woodside shares targeted by activists.

Commenting on the development, Woodside CEO Meg O’Neill said, “Woodside is pleased to extend our leadership in minimising methane emissions by being OGMP 2.0’s first Australian member. “

She added that, “As part of our methane strategy, Woodside is striving for near-zero methane emissions on operated assets by 2030.”

OGMP 2.0 program manager, Giulia Ferrini said, “We are thrilled to welcome Woodside to the Partnership as its first member company in Australia.”

According to Ferrini:

This is a valuable step towards expanding methane accountability and transparency across the industry and the region. As customers, investors and governments demand stronger methane performance, we hope Woodside’s commitment will inspire others to join OGMP 2.0 and adopt a high standard of emissions reporting and management.

Woodside said it has four key pillars to its methane reduction plan:

• Developing a high-integrity measured dataset
• Striving for near-zero methane emissions
• Transparent reporting
• Leadership through advocating and collaborating with others

The company noted its 2022 methane emissions were “around 0.1% of our production by volume, well below the Oil and Gas Climate Initiative (OGCI) methane intensity target of below 0.2%”.

Woodside shares are down 10% over the past 12 months and up 2% so far in 2024.

The post Australian first: Why Woodside shares are making news this week appeared first on The Motley Fool Australia.

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Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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It’s been quite a sobering day on the ASX boards so far this Thursday. After yesterday’s fresh new all-time highs, investors are taking a breather, with the S&P/ASX 200 Index (ASX: XJO) currently nursing a chunky loss of 1.2%. But let’s talk about the ASX news coming out from Santos Ltd (ASX: STO) shares.

To start things off, it’s worth noting that Santos shares are currently being punished even more than the broader market. The ASX 200 oil and gas producer is currently down by a hefty 1.46% at $7.74 a share.

To be fair, this isn’t too different from what some other ASX energy shares are doing. Woodside Energy Group Ltd (ASX: WDS) shares have lost 1.34% so far today. Karoon Energy Ltd (ASX: KAR) is down 0.92%, while Beach Energy Ltd (ASX: BPT) has lost 0.3%.

But Santos seems to be the punching bag this Thursday. Perhaps a new announcement out of the company is responsible.

What’s making ASX news today with this energy stock?

Enthusiastic Santos stakeholders may recall that last year, Santos reached an agreement with Kumul Petroleum Holdings. Kumul agreed to purchase the 2.6% stake in PNG LNG that Santos owns.

On 29 December, Santos told investors that Kumul had paid $250 million into an escrow account as a part payment for this deal. It also revealed that Kumul had secured the additional funds needed to complete this purchase by 31 January.

Well, today, the company gave investors an update. Here’s what was said:

Santos and Kumul have agreed an amendment to the Sale Agreement where Kumul has taken an effective interest in the Santos entity that holds the 2.6 per cent sale interest. Kumul has paid US$352 million to Santos (equivalent to a ~1.6 per cent interest) on 31 January 2024 to allow partial completion of the transaction.

The amendment provides additional time for Kumul to pay the remaining purchase price of US$241 million. Until final completion, Santos retains control of the entity holding the 2.6% and in order to assist with purchase of the remaining interest, future project distributions associated with the interest sold to Kumul will be applied to acquiring the remaining interest

As such it seems that this deal isn’t quite ‘home and hosed’ just yet.

Perhaps the instability, for want of a better phrase, that is revolving around this yet-to-be-completed deal is what is weighing on Santos shares today.

It’s certainly possible, although, as we discussed earlier, Santos really isn’t straying too far out of the broader energy ballpark when it comes to its share price losses.

Santos share price snapshot

Today’s share price losses don’t take too much away from what has been a rather lucrative 12 months for the company. Even after today’s falls, the Santos share price remains up 9.94% over the past 12 months.

At the present levels, the company is offering a trailing dividend yield of 3.23%.

The post Here’s why Santos shares are making ASX news on Thursday appeared first on The Motley Fool Australia.

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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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From mid-2021 through to November 2022, the lithium price rise was nothing short of meteoric.

Investors who bought S&P/ASX 200 Index (ASX: XJO) lithium shares like Pilbara Minerals Ltd, (ASX: PLS) Core Lithium Ltd (ASX: CXO) and Liontown Resources Ltd (ASX: LTR) near the beginning of that cycle and sold near the end will have banked some eye-popping gains.

The Core Lithium share price, as one example, soared more than 560% over that 18-month period.

But, as you’re likely aware, the lithium price then headed the other direction.

And just as quickly.

The price for spodumene, a lithium rich mineral, has collapsed by more than 85% over the past 12 months. Spodumene 6% (meaning it contains at least 6% lithium) is now trading below US$1,000 per tonne, down from around US$7,600 per tonne in January 2023.

With the lithium price in freefall, ASX 200 lithium stocks have seen their previously soaring share prices hammered.

And the miners have been taking steps to conserve cash amid plunging revenues.

In January, Core Lithium announced it was temporarily halting mining operations at its Finniss lithium project.

Meanwhile, Liontown has chosen to delay the expansion of its Kathleen Valley lithium project.

And Pilbara Minerals, which delivered its first two dividends in 2023, is looking at suspending those payouts in 2024.

With that in mind, when can investors in ASX 200 lithium shares like Core Lithium, Pilbara and Liontown expect to see a bottom in the scorched lithium price?

What’s ahead for the lithium price?

Investors hoping for a rapid turnaround in spodumene prices are likely to be disappointed.

Bank of America senior commodities strategist Michael Widmer noted (quoted by The Australian Financial Review), “We are concerned that lithium has not yet found a bottom.”

Widmer slashed his forecast for spodumene prices in 2024 by 63% to US$650 per tonne. He reduced his forecast for 2025 to US$1,438 per tonne, down from his previous expectations of US$2,188.

That would see the lithium price continue to slide this year before rebounding above current levels in 2025.

Goldman Sachs recently released a more bearish forecast for 2025, though the broker is slightly more optimistic about its outlook for 2024.

Goldman expects spodumene prices of US$1,175 per tonne in 2024, which it then forecasts will fall to US$800 per tonne in 2025.

Why is Bank of America bearish on the near-term outlook for spodumene?

Commenting on why he expects the lithium price to fall further in 2024, Widmer said, “Operators have been reluctant to curtail production, the project pipeline is well filled, and we continue to expect very high surpluses. This should keep the pressure on prices for now.”

He added that, “Western producers keep pushing ahead on expectations that lithium demand will expand thanks to [government] policies.”

Those include the Inflation Reduction Act in the United States and potential tax incentive extensions for lithium producers in Australia.

On the demand side, a global slowdown in the growth rate of EV sales isn’t helping the lithium price turn around either.

According to Widmer (quoted by the AFR):

Further investigation reveals a dichotomy in the EV market: the premium market has moved towards electrification, while mass-market adoption lags. This divergence is mostly driven by pricing, but EV prices are unlikely to converge with [internal combustion engines] in the near term… EV production keeps expanding, albeit at a slower pace.

So, when can investors in ASX 200 lithium shares expect the lithium price to run higher again?

Keep an eye on those production scalebacks.

“Eventual announcements of lithium production cuts will be key to a price rebound,” Widmer said.

The post Where will the bottom be for the scorched lithium price? appeared first on The Motley Fool Australia.

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Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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Whenever an ASX All Ordinaries (ASX: XAO) share trades ex-dividend on the stock market, it’s a pretty big deal. For one, it means that a fresh new dividend payment is getting ready to depart to eligible investors’ bank accounts.

But it also means that we’re primed to see a bit of a share price drop for the company in question.

Why? Well, whenever a company declares a new dividend payment, it must also nominate an ex-dividend date to preceed it.

The ex-dividend date acts as a line in the sand in terms of who actually gets the dividend. If you own a company’s shares before the nominated ex-dividend date, you go on the books as being eligible for payment. However, if you buy those same shares on or after the ex-dividend date, the receiving rights to the dividend remain with the seller. You miss out, in other words.

This value leaves the dividend-paying companies’ books when it trades ex-dividend. As such, we normally see a corresponding drop in that company’s share price.

So today, let’s talk about three ASX All Ords shares that will experience this very phenomenon over the coming week

Three ASX All Ords shares poised to trade ex-dividend

ResMed Inc (ASX: RMD)

First up is healthcare stock Resmed. Resmed is a rather unusual share in that it pays out its dividends every quarter, rather than the normal six months. Just last week, the company revealed that its next dividend, due on 3 April, will be worth an unfranked 4.8 US cents per share. That’s the same payment investors enjoyed last quarter.

Since this payment is denominated in US dollars, we don’t yet know what the final amount will be in our local currency. But what we do know is that the ex-dividend payment for this upcoming dividend is set for next Wednesday, 7 February. So if you wish to bag this payment, you’ll need to own Resmed shares by the close of trade on Tuesday.

Euroz Hartleys Group Ltd (ASX: EZL)

Next, let’s discuss All Ords financial services share Euroz Hartleys Group. Earlier this week, Euroz Hartleys reported its half-year results for the six months ending 31 December. The company took the opportunity to announce that its upcoming interim dividend would be worth 1.75 cents per share, fully franked.

That’s a bit of a drop from Euroz’s final dividend from August, which was worth 3.5 cents per share. It’s also a decline from last year’s interim dividend of 2.5 cents per share.

Investors have until the end of trading today to secure this latest payment, given Euroz Hartleys is scheduled to trade ex-dividend tomorrow, 2 February. Payment day will then come around later this month on 16 February.

Nickel Industries Ltd (ASX: NIC)

Finally, let’s talk about All Ords nickel stock Nickel Industries. Nickel Industries also gave investors some results earlier this week, albeit for the past quarter. In these results, the company revealed a final dividend of 2.5 cents per share, unfranked. That’s a 25% rise over both the interim and final dividends from 2023. These both amounted to 2 cents per share.

Like Euroz Hartleys, Nickel Industries will go ex-dividend for this payment tomorrow, 2 February. So investors have until the end of today’s trading to secure it if they wish.

The dividend will then be doled out to eligible investors on 19 February.

A bonus ex-dividend date for your calendar

It’s probably worth mentioning a share that isn’t exactly on the All Ords, but is popular and trading ex-dividend tomorrow as well. Shareholders of the Australian Foundation Investment Company Ltd (ASX: AFI) are also looking forward to their upcoming interim dividend this month.

AFIC will be forking out a fully-franked 11.5 cents per share on 26 February. That’s a pleasing 4.55% rise over the 11 cents per share enjoyed in 2023. But once more, aspirants better be quick, as AFIC shares will cut off eligibility for this payout tomorrow.

The post 3 ASX All Ords shares with ex-dividend dates in the next week appeared first on The Motley Fool Australia.

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• Here are the top 10 ASX 200 shares today
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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 positions in and has recommended ResMed. The Motley Fool Australia has positions in and has recommended ResMed. 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 rough session on Thursday. In afternoon trade, the benchmark index is down 1.3% to 7,580.2 points.

Four ASX shares that are falling more than most today are listed below. Here’s why they are dropping:

Block Inc (ASX: SQ2)

The Block share price is down 3% to $99.93. This follows a broad selloff in the tech sector overnight on Wall Street which impacted the payments company’s US listed shares. Investors were hitting the sell button after the US Federal Reserve suggested that rate cuts will still some way off.

Resolute Mining Ltd (ASX: RSG)

The Resolute Mining share price is down 6% to 40.25 cents. This follows the release of the gold miner’s fourth quarter update after the market close on Wednesday. Investors appear disappointed that its full-year production dropped year on year to 330,994 ounces from 353,069 ounces. Nevertheless, a stronger gold price meant that full year EBITDA came in 11.5% higher year on year at $165 million.

Sayona Mining Ltd (ASX: SYA)

The Sayona Mining share price is down a further 7.5% to 3.7 cents. Investors have been selling this lithium miner’s shares following the release of its quarterly update this week. That update revealed that its unit operating cost increased to A$1,397 per tonne, which is significantly more than its realised selling price of A$946 per tonne. As this is clearly unsustainable, the market appears to believe a production suspension is inevitable. There may also be questions over the availability of its $200 million lending facility given the current environment.

Syrah Resources Ltd (ASX: SYR)

The Syrah share price is down 11% to 37.5 cents. This is despite UBS retaining its buy rating on the graphite producer’s shares with a lofty price target of $1.00. It was reasonably pleased with the company’s quarterly update. Especially given the tough environment it is operating in at present.

The post Why Block, Resolute Mining, Sayona Mining, and Syrah shares are sinking today 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 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.

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The S&P/ASX 200 Index (ASX: XJO) is on course to end its winning streak on Thursday with a sizeable decline. In afternoon trade, the benchmark index is down 1.25% to 7,583.6 points.

Four ASX shares that are not letting that hold them back today are listed below. Here’s why they are rising:

Credit Corp Group Limited (ASX: CCP)

The Credit Corp share price is up 7% to $18.42. This may have been driven by a broker note out of Morgans this morning. While Credit Corp’s half year results missed expectations, the broker remains very positive on the future. As a result, it has retained its add rating and lifted its price target on the debt collector’s shares to $20.60.

Playside Studios Ltd (ASX: PLY)

The Playside Studios share price is up a further 4% to 75.5 cents. Investors have been buying this game developer’s shares this week after it delivered a record quarterly result. Playside posted record quarterly revenue of $20.7 million and positive unaudited EBITDA of $8 million. The latter was close to double what was recorded in the previous quarter.

QBE Insurance Group Ltd (ASX: QBE)

The QBE share price is up 1% to $16.00. This morning, Goldman Sachs reiterated its buy rating and $18.52 price target on the insurance giant’s shares. This was in response to the release of a strong update from one of its global peers.

Skycity Entertainment Group Ltd (ASX: SKC)

The Skycity share price is up 3.5% to $1.83. Investors have been buying this casino and resorts operator’s shares after it released an update on its AUSTRAC proceedings. That update reveals that the two parties have come to an agreement. This will see Skycity hit with a civil penalty and legal costs totalling an estimated A$73 million.

The post Why Credit Corp, Playside, QBE, and Skycity shares are pushing higher today appeared first on The Motley Fool Australia.

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• What could happen to Telstra shares if interest rates fall?
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has 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 Wesfarmers Ltd (ASX: WES) share price has climbed impressively over the last six months, rising by 15%. The S&P/ASX 200 Index (ASX: XJO) has only gone up by 2% over that same time period.

A 15% rise is nowhere near as much of a gain as plenty of other businesses. For example, the JB Hi-Fi Limited (ASX: JBH) share price is up 22% and the Fortescue Ltd (ASX: FMG) share price has gone up 35%.  

Would it be crazy to invest now?

Wesfarmers is one of the best businesses on the ASX, in my eyes. It operates a number of leading businesses like Bunnings, Kmart and Officeworks.

I don’t think it would be a stretch to invest today. The forecast on Commsec puts the Wesfarmers share price at 24 times FY25’s estimated earnings. With the underlying quality of Wesfarmers, this doesn’t seem like an expensive valuation.

The company has done a wonderful job of growing over the long term. It has directed capital towards its strong businesses and moved away from areas it doesn’t think will deliver for shareholders over the long term.

Its move into healthcare is just the kind of thing I’d expect from Wesfarmers because of the long-term growth potential, an ageing population and the digitalisation of healthcare tailwinds. Healthcare is a huge industry, so it makes a lot of sense for Wesfarmers to create a new platform for growth here.

Population growth and the prospect of lowering interest rates are exciting for the potential of earnings growth and Wesfarmers share price growth over the next two or three years.

At the AGM, Wesfarmers indicated that the value offering of Kmart and Bunnings was resonating with customers. This bodes well if there’s an extended period of economic challenges for some households.

Don’t go all in

Investors seem to have become exuberant that inflation is reducing, but there haven’t actually been any interest rate cuts yet.

Sometimes the market can get ahead of itself and then adjust after that.

It’s not as though companies are suddenly being expected to make a lot more profit than they were before. Thus, this rally seems to be based on sentiment about interest rates. In fact, the US Federal Reserve boss has told investors not to expect cuts too early.

There’s no rush to invest. If the last four years have shown us anything, it’s that volatility usually isn’t that far away. We don’t need to FOMO invest in any particular ASX share, including Wesfarmers shares.

Over the long-term, I think Wesfarmers shares can keep rising, but there may be times when it falls below today’s price.

Even so, I’d be comfortable buying a parcel of shares today and buying more in the future at a price I like.

The post Would I be crazy to buy Wesfarmers shares at $58? appeared first on The Motley Fool Australia.

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• Why this broker just upgraded Wesfarmers shares to a buy rating

Motley Fool contributor Tristan Harrison has positions in Fortescue. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Wesfarmers. The Motley Fool Australia has positions in and has recommended Wesfarmers. The Motley Fool Australia has recommended Jb Hi-Fi. 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 Bapcor Ltd (ASX: BAP) share price is marching higher today.

Shares in the S&P/ASX 200 Index (ASX: XJO) auto parts company closed yesterday trading for $5.64. In earlier trade, shares were swapping hands for $5.95 apiece, up 5.5%.

The Bapcor share price has since retraced to $5.73, leaving the stock up 1.6% at time of writing.

That’s a good bit better than the 1% losses posted by the ASX 200 at this same time.

The benchmark index is following US markets lower after Fed chair Jerome Powell dashed investor hopes of a March interest rate cut from the central bank. (See the full story here.)

Here’s why the Bapcor share price looks to be shaking off those macro concerns today.

What did the ASX 200 auto parts company announce?

Investors are bidding up the Bapcor share price after the company announced the appointment of a new CEO and managing director.

Current CEO and managing director, Noel Meehan, will exit his position at the end of this week. Meehan, Bapcor’s CEO since December 2021, was said to be leaving for personal and family reasons.

Paul Dumbrell will take over the reins as CEO and managing director on 1 May.

Meehan will stay on during the transitional period to provide strategic support and facilitate an orderly leadership transition.

Bapcor non-executive director Mark Bernhard, who has more than 30 years of experience in the automotive industry in senior executive roles, will step in as interim CEO and managing director.

ASX 200 investors could be bidding up the Bapcor share price on news that sales at Total Tools almost doubled during the five years that Dumbrell served as the company’s CEO.

Commenting on his appointment to the top job, Dumbrell said:

After leaving Total Tools I had planned to take an extended break, but the opportunity to work alongside the Bapcor team is an exciting opportunity and I am very much looking forward to working with the leadership team and board to drive shareholder value.

I have a long history with Bapcor, and I look forward to seeing the full potential of the broader group realised into the future alongside the exceptional teams within the business.

Current chair, Margie Haseltine also said she would not seek re-election to the board at the 2024 AGM.

“We are focused on ensuring that Bapcor has the right executive team to drive profitable growth and the right board to give strategic oversight to the company,” she said.

Bapcor share price snapshot

After a big slide in October, the Bapcor share price remains down 11% over the past 12 months.

Shares in the ASX 200 auto parts company are up 8% since 24 January.

The post Why is the Bapcor share price racing ahead of the ASX 200 on Thursday? appeared first on The Motley Fool Australia.

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More reading

• Here are the top 10 ASX 200 shares today
• Here’s why the Bapcor share price is popping 6% today
• Why Bapcor, Domino’s, Santana Minerals, and Woodside shares are charging higher
• Here are the top 10 ASX 200 shares today
• 3 ASX 200 value stocks I’d buy for my portfolio today!

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