If you are looking to strengthen your portfolio with some blue chip ASX 200 shares, you may want to look at the two listed below that have been tipped as buys by experts.

Here’s why these blue chip shares are highly rated right now:

Goodman Group (ASX: GMG)

The first blue chip ASX 200 share for investors to look at is Goodman Group.

Goodman is a specialist global industrial property group that owns, develops, and manages high-quality, sustainable properties that are close to consumers and provide essential infrastructure for the digital economy.

Among its $77.8 billion portfolio are properties leased to giants including Amazon, Coles Group Ltd (ASX: COL), DHL, and Walmart.

But Goodman isn’t resting on its laurels and has $13.8 billion of development work in progress across 85 projects. Pre-commitments remain high across this workbook with completions 100% committed and work in progress 68% committed. Pleasingly, the latter has a yield on cost of 6.4%, which should be supportive of further solid earnings growth in the future.

UBS is positive on Goodman’s outlook. So much so, this morning the broker upgraded its shares to a buy rating with a $23.00 price target.

Treasury Wine Estates Ltd (ASX: TWE)

Another ASX 200 blue chip share that have been tipped as a buy is Treasury Wine.

It is one of the world’s leading wine companies and the owner of a portfolio of popular wine brands. This includes 19 Crimes, Blossom Hill, Lindeman’s, Wolf Blass, and the jewel in the crown, Penfolds.

Treasury Wine has been tipped to deliver strong growth in the coming years thanks to the success of its premiumisation strategy, strong demand in the United States, and the successful reallocation of its China portfolio into other markets.

Morgans is very positive on its outlook and believes the “foundations are now in place for TWE to deliver strong earnings growth […] over the next few years.”

Morgans has an add rating and $15.71 price target on its shares.

The post Experts say these are the ASX 200 blue chip shares to buy now appeared first on The Motley Fool Australia.

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More reading

• House prices are tanking. Will ASX property shares go down with them?
• 3 ASX shares to cash in on China’s reopening to the world: Jun Bei Liu
• 3 of the best ASX 200 shares to buy in 2023: Bell Potter
• 3 ASX 200 shares smashing new 52-week highs on Wednesday
• Here are the top 10 ASX 200 shares today

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Treasury Wine Estates. 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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Australian home values are falling at their fastest rate since the global financial crisis, so will ASX property shares go down with them?

According to CoreLogic data, home prices fell 5.3% in 2022. Back in 2008, they dropped 6.4%. (These numbers combine all types of residential properties — houses, townhouses, and apartments).

The price declines in 2022 were greatest in Sydney (down 12.1%) and Melbourne (down 8.1%).

But what happened to ASX property shares?

If home values drop, will ASX property shares fall too?

Let’s take a look at what happened to ASX property shares or real estate investment trust (REITs) in 2022.

Real estate is one of the 11 sectors of the ASX. Over 2022, the S&P/ASX 200 A-REIT Index (ASX: XPJ) fell 24%. This compares to a 5.5% drop in the benchmark S&P/ASX 200 Index (ASX: XJO).

As seen here, individual results among the REITs varied substantially.

This is the top 10 ASX property shares by market capitalisation:

ASX property share	Price movement in 2022
Goodman Group (ASX: GMG)	-35%
Scentre Group (ASX: SCG)	-9%
Vicinity Centres (ASX: VCX)	+18%
Stockland Corporation Ltd (ASX: SGP)	-14%
Mirvac Group (ASX: MGR)	-27%
GPT Group (ASX: GPT)	-22.5%
Dexus Property Group (ASX: DXS)	-30%
Charter Hall Group (ASX: CHC)	-42%
Lendlease Group (ASX: LLC)	-27%
Charter Hall Long WALE REIT (ASX: CLW)	-12%

Why did ASX property shares fall in 2022?

The important thing for investors to note is that the bulk of REITs are either not associated with the residential housing market, or have only limited exposure.

Most of them hold portfolios comprising retail property, offices, and industrial property such as warehouses and shopping centres. There are exceptions, of course, like apartment developer Mirvac Group.

However, in a climate of rising interest rates, ASX REITs with substantial debt or leveraging will be affected. Why this occurs is obvious — interest costs are rising, while property values are falling.

The REIT companies that build property have also been subject to the rising costs of inputs like timber due to inflation and ongoing global supply chain disruptions.

ASX property shares can also be affected by falling land values in a market downturn. This reduces the value of the assets on their books.

But remember, most of these REITs are not holding property with the aim to sell it and distribute capital gains to shareholders. REITs are traditionally much more of a yield play than a growth play.

And therein lies an opportunity with REIT shares for investors today.

REITs are reliable dividend payers

ASX property shares tend to involve commercial property, and average tenancies are much longer term than residential leases. Traditionally, rental returns are steadier, hence distributions are relatively stable.

REIT yields are presently higher because share prices fell so much in 2022.

One of the highest dividend payers among ASX property shares is the Centuria Office REIT (ASX: COF). Its share price dropped 35% last year and it is $1.60 today. That gives it a trailing dividend yield of 9.5%.

There are also ASX property shares that aim to deliver more share price growth than yield. Goodman Group is a great example.

Over the past five years, the Goodman share price has risen by 150%. That includes the 25% decline in 2022. So, that’s an average annual share price gain of 30% per year. A residential property could never match that. Goodman is forecasting an 11% growth in earnings per share (EPS) for FY23.

Should I buy property or shares?

Whether ASX shares or property is a better investment is an age-old debate among investors that will rage on forever. Ideally, a bit of both is the way to go because it provides investment diversification.

But if you had to choose one, ASX shares might be more appealing for several reasons.

The scale of initial investment is probably the biggest drawcard of shares. ASX shares investing allows you to start with lower funds, so you can use savings instead of borrowings to get started. They’re certainly less hassle, and there are no holding costs (outside of the interest on any margin loan you get to invest).

But the capital gain you’ll get from ASX property shares is likely to be smaller. Over the past five years, the A-REIT index has risen by only 7%.

So, investors who choose shares over bricks-and-mortar property might pick a few ASX growth shares for capital gains and some ASX dividend shares (perhaps including property shares) for reliable income.

The post House prices are tanking. Will ASX property shares go down with them? appeared first on The Motley Fool Australia.

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More reading

• Experts say these are the ASX 200 blue chip shares to buy now
• 3 of the best ASX 200 shares to buy in 2023: Bell Potter
• ASX income stocks: A once-in-a-decade chance to get rich?
• Buy these ASX passive income shares now: experts
• 3 ASX 200 shares tipped to rise higher: experts

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

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It’s been a fairly pleasant day of trading for the S&P/ASX 200 Index (ASX: XJO ) so far this Friday. At the time of writing, the ASX 200 has added a decent 0.45%, putting the index at bang on 7,500 points. But ASX 200 tech shares are having an even better day.

Tech shares are on fire this Friday. At present, the S&P/ASX 200 Information Technology Index (ASX: XIJ) is the best-performing sector on the market, up by an impressive 1.47% at present.

Tech shares are amongst the ASX 200’s best individual share performers too. Just take the market-leading Megaport Ltd (ASX: MP1) share price right now. It’s in the ASX 200’s vanguard at present, recording a gain of 5.63% to $7.32 a share:

WiseTech Global Ltd (ASX: WTC) shares are also standout performers. This WAAAX veteran is up a pleasing 4.37% at $58.55 a share right now.

TechnologyOne Ltd (ASX: TNE) shares have gained more than 3.5%, while the share prices of NEXTDC Ltd (ASX: NXT), Xero Limited (ASX: XRO) and Block Inc (ASX: SQ2) are all beating the market, having recorded gains over 1% at present.

So what’s going on with ASX 200 tech shares today that has this sector leading the entire market?

Why are ASX tech shares on fire this Friday?

Well, it could be down to a couple of factors.

Firstly, US tech shares had a very impressive session overnight (our time). The tech-heavy NASDAQ 100 Index closed a healthy 2% higher at back over 12,000 points last night.

This was driven by healthy moves like Amazon.com Inc (NASDAQ: AMZN) shares lifting by 2%, Alphabet Inc (NASDAQ: GOOGL) rising 2.42%, and Facebook and Instagram owner Meta Platforms Inc (NASDAQ: META) rocketing by 4.1%.

But Tesla Inc (NASDAQ: TSLA) stole the show, surging by a whopping 10.97% to US$160.27 after reporting some impressive quarterly earnings numbers:

So with all of these US tech shares enjoying such a stellar run last night, ASX tech shares were always going to be primed for a strong showing.

But secondly, some ASX news might be at play here as well. As my Fool colleague James covered this morning, ASX broker Morgans has upgraded its rating on Megaport shares. The broker now rates Megaport as an add, with a 12-month share price target of $9 – still well above the $7.38 it is asking at present.

But not only that, Morgans also stated that it has become increasingly bullish on most quality ASX tech shares:

Valuations for quality tech are now back to 20 year / long run averages (fair value)… Quality tech can grow regardless of weak economic conditions. Profit growth should reignite interest in the tech sector once again and this profit growth should drive share price appreciation.

So it could be a combination of these factors that is lifting ASX 200 tech shares so convincingly this Friday.

The post These ASX 200 tech shares are leading the market today appeared first on The Motley Fool Australia.

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More reading

• Why Liontown, Megaport, Origin, and Tyro shares are pushing higher today
• Why is this ASX 200 tech share racing 6% higher today?
• ASX 200 tech share WiseTech wobbles on $327 million US acquisition
• Here are the top 10 ASX 200 shares today
• 5 ASX 200 shares rocketing to new 52-week highs on Tuesday

Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool’s board of directors. Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Motley Fool contributor Sebastian Bowen has positions in Alphabet, Amazon.com, Meta Platforms, and Tesla. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Alphabet, Amazon.com, Block, Megaport, Meta Platforms, Tesla, WiseTech Global, and Xero. The Motley Fool Australia has positions in and has recommended Block, WiseTech Global, and Xero. The Motley Fool Australia has recommended Alphabet, Amazon.com, Megaport, Meta Platforms, and Technology One. 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 another busy week for Australia’s top brokers. This has led to the release of a large number of broker notes.

Three broker buy ratings that you might want to know more about are summarised below. Here’s why brokers think these ASX shares are in the buy zone:

Accent Group Ltd (ASX: AX1)

According to a note out of Goldman Sachs, its analysts have retained their buy rating and lifted their price target on this footwear retailer’s shares to $2.75. This follows the release of a stronger than expected trading update, which has led to Goldman making material upgrades to its earnings estimates. All in all, the broker believes this update reinforces its positive view on the strength of younger consumers. This is good news for Accent given the majority of its customer base is aged 18-35. The Accent share price is trading at $2.09 on Friday.

Iluka Resources Limited (ASX: ILU)

Another note out of Goldman Sachs reveals that its analysts have retained their conviction buy rating on this mineral sands producer’s shares with an improved price target of $12.60. Goldman was pleased with Iluka’s quarterly update, noting that the company reported stronger than expected zircon and rutile sales volumes and realised prices. Goldman remains positive on the future due to the global supply of high grade TiO2 feedstock and zircon remaining tight. The Iluka share price is fetching $11.12 this afternoon.

Mineral Resources Ltd (ASX: MIN)

Analysts at Bell Potter have retained their buy rating and lifted their price target on this mining and mining services company’s shares to $110.00. The broker made the move mainly due to increases in its forecast commodity prices and realisation factors. In addition, over the next two years the broker is expecting the company’s business transformation to deliver significant earnings growth. The Mineral Resources share price is trading at $92.28 on Friday afternoon.

The post Brokers name 3 ASX shares to buy now appeared first on The Motley Fool Australia.

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More reading

• Why Accent, Mineral Resources, Newcrest, and Whitehaven Coal shares are dropping
• Mineral Resources share price falls on Goldman Sachs downgrade
• Invested $1,000 in Mineral Resources shares 10 years ago? Here’s how much passive income you’ve made
• 5 things to watch on the ASX 200 on Friday
• Here are the top 10 ASX 200 shares today

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

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The BHP Group Ltd (ASX: BHP) share price is leaping higher today.

BHP shares are currently up 1.01% to $49.735. For perspective, the S&P/ASX 200 Materials Index (ASX: XMJ) share price is climbing 0.45% today.

Let’s take a look at what could be weighing on the BHP share price today.

What’s going on?

BHP is not the only iron ore producer in the green today. The Rio Tinto Ltd (ASX: RIO) share price is up 1.12%, while the Fortescue Metals Group Limited (ASX: FMG) share price is climbing 1.09%.

Iron ore China futures are currently up 0.53% on the Singapore Exchange at last look.

China expert and director of iron ore research Philip Kirchlechner is optimistic strong iron ore demand can continue, The Western Australian reported.

Copper prices also remained elevated overnight at US $9,300 per tonne. Commenting on the movement of commodities, ANZ rates strategist Jack Chambers said in a research note this morning:

Copper held steady above USD9300/t. Supply issues and strong demand prospects from China are limiting any profit taking even after prices rising 12% this month.

Iron ore prices traded sideways in absence of guidance from the Chinese market.

BHP is proposing to acquire 100% of copper explorer OZ Minerals Limited (ASX: OZL). A scheme meeting to approve the potential takeover is due in late March or early April. BHP also entered a deal with Canadian company Mundoro Capital Inc. (TSXV: MUN) to explore copper in Serbia this week.

Meanwhile, Fortescue’s record half iron ore production may also be providing optimism in ASX 200 iron ore shares today. Executive chairman Dr Andrew Forrest said:

The Fortescue team delivered our highest ever December quarterly shipments of 49.4 million tonnes, our best ever half year.

BHP share price snapshot

The BHP share price has jumped 22% in the last year.

BHP has a market capitalisation of about $251 billion based on the current share price.

The post Why is the BHP share price in the green today? appeared first on The Motley Fool Australia.

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More reading

• How to generate $50,000 of passive income from BHP shares
• The BHP share price has had a stellar start to 2023. Is it too late to buy?
• Investing in ASX 200 copper shares? Here’s the outlook for the red metal in 2023
• Does the Vanguard Australian Shares ETF’s unique structure deliver better returns than the ASX 200?
• Move over bank deposits! These ASX 200 mining shares are forecasting yields of over 5%

Motley Fool contributor Monica O’Shea 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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Small-cap ASX share Silk Logistics Holdings Ltd (ASX: SLH) has been tipped as a top pick by Cyan Investment Management co-founder Dean Fergie.

In its most recently reported financial results, the warehousing and logistics company saw its FY22 revenue increase by 22% to $394 million. The small-cap ASX share also reported a whopping 45% increase in net profit after tax (NPAT), which reached $15.8 million.

At the current share price of $2.22, Silk Logistics has a market cap of $175 million and pays a fully franked trailing dividend yield of 3.9%.

Small-cap ASX shares emerging from tough year

The past 12 months weren’t particularly kind to most of the smaller ASX shares.

Commenting on the headwinds facing small-caps, Fergie said (courtesy of The Australian):

There was a lot that happened last year in terms of geopolitical activity, and certainly inflation, that really came out of left field for investors. It was a terrible year (for small caps), it was really a place that no one wanted to be in.

To give you some idea, over the past 12 months the S&P/ASX 200 Index (ASX: XJO) has gained 9.8%. The S&P/ASX Small Ordinaries Index (ASX: XSO), on the other hand, dropped 2.4% over that same period.

But, as Fergie noted, “certainly so far this year, we’ve already seen a very, very strong rebound”.

Indeed, the Small Ordinaries has gained 8.9% since the opening bell on 3 January, outpacing the 8.1% gains posted by the ASX 200.

And Fergie believes that strength could lead to some extra tailwinds for small-cap ASX shares moving forward.

 â€œI think that might prompt more people to get involved,” he said. “As it goes up, people start to have a little bit of FOMO and so they put money in, which ticks the market up further.”

Which brings us back to Silk Logistics.

Explaining why Silk is a top small-cap ASX share pick for Cyan, Fergie said (quoted by The Australian):

We’re still seeing some companies in the online space and the like bring in a lot of goods from overseas. They want warehousing transportation and Silk now has a really good, domestic-wide footprint in Australia. They’re well-funded and seeing good growth.

He added that the ASX share is “reasonably defensive too”.

Silk Logistics share price snapshot

As you can see in the chart below, the Silk Logistics share price is up 3.7% since the opening bell on 3 January.

Over the past 12 months, the small-cap ASX share has gained 6.2%.

The post Small-cap ASX share ‘well-funded’ with ‘good growth’: fund manager appeared first on The Motley Fool Australia.

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More reading

• Brokers name 3 ASX shares to buy now
• Why is the BHP share price in the green today?
• Why this ASX 200 retail share is ‘best positioned’ for 2023: Morgan Stanley
• Why Liontown, Megaport, Origin, and Tyro shares are pushing higher today
• Why is the Whitehaven Coal share price tanking 6% 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 Silk Logistics. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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S&P/ASX 200 Index (ASX: XJO) retail share Premier Investments Ltd (ASX: PMV) has been tipped to outperform among ASX retail stocks in 2023 by broker Morgan Stanley.

The specialty fashion retail operator is active in Australia, New Zealand, Asia, and Europe. It has a current market cap of $4.4 billion and pays a trailing dividend yield of 3.6%, fully franked.

Why Morgan Stanley upgraded the ASX 200 retail share

Morgan Stanley analysts, led by equity analyst Joseph Michael, say Aussie retailers and their investors should prepare for a challenging year ahead.

According to Michael (courtesy of The Australian):

Retail demand and margins surprised on the upside in 2022. Looking into 2023, we expect the impact of these headwinds to intensify as savings buffers fade, the impact of rising rates flows through and reopening tailwinds dissipate…

In the current challenging backdrop we have a preference for retailers with: i) global expansion optionality; ii) margin levers; iii) track record of beating market expectations; iv) strong balance sheets; and v) high insider ownership.

Morgan Stanley said that retail share Premier Investments ticks those boxes.

The broker’s analysts noted:

We are attracted to Premier’s global expansion opportunity (via Smiggle), its long track record of beating market expectations (on apparel brand execution in the face of higher offshore competition, rent negotiations with landlords and scaling Smiggle and Peter Alexander) and capital management optionality (we see scope for more dividends/buybacks or highly accretive M&A).

Not that Premier won’t be impacted by stubbornly high inflation, likely further interest rate hikes from the RBA, and diminishing consumer savings. But the strength of the ASX 200 retail share’s balance sheet and management should see it outperform.

“It is best positioned among retailers in our coverage to navigate the tough conditions with a strong balance sheet and high-quality leadership team,” Michael said.

Morgan Stanley upgraded Premier Investments to overweight. It has a price target for the company’s shares of $30.50. That’s 11% above the current share price of $27.51.

Premier Investments share price snapshot

As you can see in the chart below, the Premier Investments share price has gained 11% so far in 2023.

Over the past 12 months, the ASX 200 retail share is up just under 2%, having fallen sharply during the initial wave of interest rate hikes.

The post Why this ASX 200 retail share is ‘best positioned’ for 2023: Morgan Stanley appeared first on The Motley Fool Australia.

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• Here are the top 10 ASX 200 shares today
• Are ASX 200 retail shares on sale in 2023?
• Falling inflation! Could the party be back on for ASX 200 retail shares?
• 2 ASX 300 retail shares to buy right now, and one to avoid: Macquarie
• Why Brainchip, IAG, Premier Investments, and Telix shares are sinking 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 Premier Investments. 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 the week with a decent gain. In afternoon trade, the benchmark index is up 0.35% to 7,494 points.

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

Liontown Resources Ltd (ASX: LTR)

The Liontown share price is up 6% to $1.63. This is despite there being no news out of the lithium developer. However, a number of lithium shares are rising today. This may be due to optimism that lithium prices will stay higher for longer. This would be particularly good news for Liontown, which is expected to commence production next year.

Megaport Ltd (ASX: MP1)

The Megaport share price is up almost 6% to $7.33. Investors have been buying this network as a service operator’s shares after Morgans upgraded them to an add rating with a $9.00 price target. It commented: “Valuations for quality tech are now back to 20 year / long run averages (fair value). Interest rates should normalise and, assuming this occurs, investors may reassess the fact that we are back into a no growth world.”

Origin Energy Ltd (ASX: ORG)

The Origin Energy share price is up 1.5% to $7.43. This morning, this energy company upgraded its Energy Markets earnings guidance for FY 2023. It now expects underlying EBITDA to be between $600 million and $730 million. This is up from $500 million to $650 million and excludes the potential impact of the introduction of the legislated coal price cap.

Tyro Payments Ltd (ASX: TYR)

The Tyro share price is up 3.5% to $1.55. This has been driven by news that Tyro has offered due diligence access to Potentia. This follows the recent non-binding takeover offer of $1.60 per share from the private equity company. While that offer was rejected, Tyro appears to be hoping that a better offer will be made once Potentia has done its due diligence.

The post Why Liontown, Megaport, Origin, and Tyro shares are pushing higher 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 Megaport and Tyro Payments. The Motley Fool Australia has recommended Megaport and Tyro Payments. 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 a generally positive day for ASX shares and the share market so far this Friday. At the present time, the S&P/ASX 200 Index (ASX: XJO) has recorded a small but solid gain of 0.34%, putting the index at just under 7,500 points. But it’s been an entirely different story when it comes to the Whitehaven Coal Ltd (ASX: WHC) share price.

Whitehaven Coal shares are having a shocker, no way around it. The ASX 200 energy share has plunged by a nasty 5.92% at the time of writing, down to $8.50 a share. That comes after Whitehaven closed at $9.04 a share on Wednesday and opened at $8.77 this morning.

So what’s up with Whitehaven that could explain this sizeable drop?

Why is the Whitehaven share price getting a whipping today?

Well, it’s not entirely clear, unfortunately. There’s been no fresh news out of Whitehaven today. Or indeed since the company posted its latest quarterly update back on 20 January.

This update was received positively at the time. Whitehaven announced that the three months to 31 December yielded a 21% increase in production against the previous quarter, as well as a 16% lift in sales.

Management is now expecting to rake in earnings before interest, tax, depreciation and amortisation (EBITDA) of $2.6 billion for the current half. That would be a massive increase over the $600 million in EBITDA that Whitehaven delivered in the prior corresponding period.

When these earnings were released, Whitehaven shares shot up more than 6% at the time. But the company has been trending lower ever since, a trend which is obviously continuing today.

Perhaps investors feel like they got ahead of themselves with these results. After all, Whitehaven shares, even after falling more than 10% since 20 January, are still up more than 220% over the past 12 months. With gains like these, it becomes very tempting for investors to take profits off the table.

Trouble in the coal mine?

But perhaps investors have also been spooked by Whitehaven’s fellow ASX 200 coal share Coronado Global Resources Inc (ASX: CRN)

Coronado posted quarterly earnings of its own back on Tuesday of this week. While Coronado also posted some impressive numbers, investors seemed spooked by the company’s mining costs surging 34.5% over the quarter, largely a consequence of wet weather, maintenance and inflation.

Perhaps this is getting Whitehaven’s investors worried as well.

Whatever the reason for Whitehaven’s big drop today, longer-term investors would still be way ahead with this coal mining giant.

At the current Whitehaven Coal share price, this ASX 200 energy share has a market capitalisation of $3.42 billion, with a trailing dividend yield of 11.3%.

The post Why is the Whitehaven Coal share price tanking 6% today? appeared first on The Motley Fool Australia.

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More reading

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• Consumer spending defies logic as inflation rages higher, locking in yet another interest rate hike in February
• Looking to energise returns with this pocket of undervalued ASX shares 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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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 7,495.7 points.

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

Accent Group Ltd (ASX: AX1)

The Accent share price is down 3% to $2.04. This morning, analysts at Morgans responded to the retailer’s trading update by retaining their hold rating on the company’s shares with an improved price target of $2.20. While the broker was impressed with Accent’s update, it feels there are better value options in the sector for investors.

Mineral Resources Ltd (ASX: MIN)

The Mineral Resources share price is down over 2% to $92.12. This appears to have been driven by a broker note out of Goldman Sachs. According to the note, the broker has downgraded the mining and mining services company’s shares to a neutral rating with a trimmed price target of $87.00. Goldman made the move on valuation grounds, noting: “Since upgrading MIN to a BUY on 11 April 2022, the stock is up ~58% vs. the ASX200 roughly flat (-0.2%) over the same period.”

Newcrest Mining Ltd (ASX: NCM)

The Newcrest Mining share price is down almost 3% to $22.33. This may have been caused by a broker note out of UBS. Its analysts weren’t overly impressed with the gold miner’s quarterly update. This has led to the broker cutting its earnings estimates and valuation accordingly. That latter has seen UBS retain its neutral rating but cut its price target to $21.00. It sees better value in other gold shares.

Whitehaven Coal Ltd (ASX: WHC)

The Whitehaven Coal share price is down 6% to $8.49. This is despite there being no news out of the coal miner. Though, it is worth noting that other coal shares are sinking on Friday. On another note, this morning Origin Energy Ltd (ASX: ORG) released an update this morning and spoke about the proposed coal price cap and the compensation it may receive.

The post Why Accent, Mineral Resources, Newcrest, and Whitehaven Coal shares are dropping appeared first on The Motley Fool Australia.

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More reading

• Mineral Resources share price falls on Goldman Sachs downgrade
• Invested $1,000 in Mineral Resources shares 10 years ago? Here’s how much passive income you’ve made
• 5 things to watch on the ASX 200 on Friday
• Forget gold! ASX 200 blue-chip shares could be the new safe-haven asset
• Why Accent, Iluka, Myer, and QBE shares are charging higher today

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Accent 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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