You can bet that any investor in Australia and New Zealand Banking Group Ltd (ASX: ANZ) shares look forward to their dividend payments. After all, most investors who own shares of any ASX big four bank usually do so with the expectation of hefty dividend income.

Well, for ANZ investors, the next dividend payment is just around the corner. ANZ is scheduled to pay out its final dividend for FY2022 next month on 15 December. Just in time for Christmas.

ANZ shares to go ex-dividend next week

The bank will be doling out a payment of 74 cents per share, fully franked. That’s a slight increase over the interim dividend of 72 cents per share that investors enjoyed back in July. Last year’s final dividend was also a 72 cents per share payment.

But if investors who don’t already own ANZ shares want to get their hands on next month’s final dividend, they will have to be quick. That’s because ANZ shares are scheduled to trade ex-dividend for this payment on Monday next week.

When a share trades ex-dividend, any new investors who own the shares on or after that date are ineligible to receive the dividend in question. So today is effectively the last day one can buy ANZ shares and be eligible to receive this next payment.

Investors will have until 9 November to decide if they wish to receive the dividend in cash. Or else opt for the optional dividend reinvestment plan (DRP).

When a company goes ex-dividend, we often see a big fall in the company’s share price on that day. This reflects the value of the dividend leaving the company’s shares. After all, new shareholders won’t be able to enjoy the extra cash. So don’t be surprised if the ANZ share price seemingly has a bad day on Monday next week.   

As of yesterday’s closing ANZ share price, this ASX 200 bank has a dividend yield of 5.61%. If we factor in next month’s increased dividend, ANZ shares would have a forward yield of 5.69%.           

The post Hoping to bank the latest ANZ dividend? Read this appeared first on The Motley Fool Australia.

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

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

More reading

• Is Bendigo Bank the best bet for dividends out of all the ASX 200 bank shares?
• Up 14% in a month, why the ANZ share price can keep delivering: Citi
• Experts name 2 ASX 200 dividend shares to buy now
• Here’s how the NAB share price has fared in October
• The ANZ share price has had a strong run, rising 10% in October

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

from The Motley Fool Australia https://ift.tt/w1Wn87b

If you’re looking to boost your income with some dividend shares, then you might want to consider the ones listed below.

Both dividend shares are rated as buys and expected to provide investors with attractive yields in the near term. Here’s what you need to know about them:

Dexus Industria REIT (ASX: DXI)

This industrial property company could be a dividend share to buy according to analysts at Morgans.

The broker likes Dexus Industria due to its exposure to key industrial markets, which it notes remain robust and have a solid rental growth outlook thanks to strong tenant demand. In addition, Morgans points out that the company’s development pipeline provides near and medium term upside potential.

Another positive is that Morgans is expecting some big dividend yields in the coming years. Its analysts are forecasting dividends per share of 16.4 cents in FY 2023 and 16.9 cents in FY 2024. Based on the current Dexus Industria share price of $2.65, this will mean yields of 6.2% and 6.4%, respectively.

Morgans also sees plenty of upside for its shares with its add rating and $3.25 price target.

Rural Funds Group (ASX: RFF)

Another ASX dividend share that has been named as a buy is this agricultural focused real estate investment trust (REIT).

Rural Funds is the owner of a quality portfolio of assets across a number of agricultural industries such as orchards, vineyards, water entitlements, cropping, and cattle farms. Many of these properties are leased to major industry players on long term agreements.

Bell Potter is positive on the company and is expecting some attractive dividend yields in the near term. It is forecasting an 11.7 cents per share dividend in FY 2023 and then a 12.7 cents per share dividend in FY 2024. Based on the current Rural Funds share price of $2.52, this represents yields of 4.6% and 5%, respectively.

The broker currently has a buy rating and $2.75 price target on Rural Funds shares.

The post Experts name 2 ASX dividend shares to buy with great yields appeared first on The Motley Fool Australia.

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

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

More reading

• Set for life: 5 ASX dividend shares I’d invest in if I ever had a million-dollar windfall
• Experts name 2 ASX dividend shares to buy with great yields
• Don’t miss out on these buy-rated ASX dividend shares: analysts
• When it comes to ASX 200 dividend shares, is there any such thing as truly passive income?
• Which ASX All Ords shares could perform well in a recession?

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

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

A common mistake that many novice investors make is to just buy up ASX shares indiscriminately without a clear game plan.

They then end up with a whole pile of stocks that are based on other people’s recommendations, without any real strategy of how the overall portfolio would work and when the positions might be exited.

As a counter-example, the Alphinity Australian portfolio managers Andrew Martin and Stuart Welch explained how they have a laser-like focus on earnings and earnings growth.

For them, earnings is ultimately what drives return on equity.

“The thing that drives markets, and what we can get some insight into,… is the earnings,” said Martin in a video to clients.

He showed how a portfolio that bought up the top 20% of companies with the best three-month earnings revisions would have returned a stunning 15.1% per annum since 2004.

Over the same period, a portfolio with all S&P/ASX 200 Index (ASX: XJO) companies all equally weighted would have returned 8.1% each year.

So with this strategy in mind, the team nominated three ASX stocks that they most favour at the moment:

Three ASX shares set to grow earnings for years to come 

Martin named two ASX shares that are related to the transport sector — Qantas Airways Limited (ASX: QAN) and Carsales.Com Ltd (ASX: CAR) — plus insurer QBE Insurance Group Ltd (ASX: QBE).

He pointed out how all three have outperformed in the past three months, with all of them, not so coincidentally, showing strong earnings growth:

Stock	6-month relative performance	6-month earnings per share change
Qantas	+7.5%	+2.1%
QBE	+11.2%	+5%
Carsales.com	+16.6%	+11.2%

Welch admitted that historically it’s been difficult to invest in airline shares, as the businesses are so cyclical and capital-intensive.

“But there are points in time when everything comes together and you can make money in them,” he said.

“We’ve seen very strong demand for both domestic and international travel, at this point running 120%+ relative to pre-COVID levels.” 

Qantas shares are up a stunning 42% since their mid-July trough.

Welch said that Carsales.com is “a very well-managed business” that’s enjoying yield improvements in both dealer and private advertising, plus the scale to increase fees.

“But also through new product development, which are high yielding and high margin for the business.”

To add to the dominant market position in Australia, the company has growth potential yet to be realised in other countries such as South Korea.

The Carsales.com share price is down 16% year to date, while handing out a dividend yield of 2.36%.

According to Martin, after a tough time through the pandemic and heavy rains, the outlook for QBE is “improving quite substantially”.

“But it is the first time in a long time that a number of things are going QBE’s way.”

There are two tailwinds for this ASX share: premium rate increases and interest rate hikes.

“QBE is actually growing its top line [revenue] for the first time in a decade, which is quite a material change,” said Martin.

“When rates go up, they can invest in higher rates and therefore get a better running yield. QBE has US$25 to US$26 of those types of investments.”

The QBE share price has risen more than 25% since its March trough, while paying out a 2.23% yield.

The post Planes, rains and automobiles: Fund names 3 ASX shares to back right now appeared first on The Motley Fool Australia.

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

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

More reading

• 5 things to watch on the ASX 200 on Friday
• Why did the South32 share price melt more than the market today?
• Here are the top 10 ASX 200 shares today
• Why is the Rio Tinto share price faring worse than the ASX 200 today?
• How is the Qantas share price avoiding today’s carnage?

Motley Fool contributor Tony Yoo 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 carsales.com Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/75Q36fc

In the chaos of 2022, investors of ASX shares can fall prey to a massive psychological trap.

That’s focusing too much on macroeconomic factors such as inflation, interest rates and recessions.

Yes, they matter — but so does the internal performance of the business.

Because there has been so much upheaval in the world making the news feeds this year, this seems to have been forgotten in many people’s minds.

That’s why it’s worth listening to the portfolio managers at Elvest Fund, who recently pointed out two businesses it holds that have shown triple-digit percentage growth.

Regardless of the external factors, such fast-growing enterprises have a great chance of delivering value back to investors.

Tripling its earnings this financial year

RPMGlobal Holdings Ltd (ASX: RUL) provides technology and consulting to the mining industry.

For an ASX technology share, its price has remained relatively resilient. There’s been a 24% resurgence since early October, leaving it just 12% lower than where it started the year.

The Elvest analysts told clients that the company is at a crossroads.

“At its AGM, RPMGlobal provided a solid trading update and reiterated FY23 guidance,” read the memo.

“RPMGlobal is at an earnings inflection point, reflecting business maturation and growing demand for its mining operations software.”

It was one of Elvest Fund’s best performers last month, but with a sensational financial year under way, the team will keep riding it all the way home.

“The company is on track to deliver EBITDA of $14.2 million this financial year, up 215%.”

While coverage remains sparse for RPMGlobal, CMC Markets reports analysts at both Moelis Australia and Veritas rate the stock as a strong buy.

Forager Funds Management portfolio manager Alex Shevelev last week, without hesitation, named RMPGlobal as the stock he would hold for the next four years.

“Great management team, plenty of skin in the game and it may well be, given all the corporate activity in the space, that the business wouldn’t be around in four years in any case.”

‘Significant lift in free cash flow’ next two years

Smartpay Holdings Ltd (ASX: SMP) is a New Zealand company that provides point-of-sale payment terminals.

While the majority of its revenue comes out of its home country, the Australian operations are seeing explosive growth.

“Smartpay provided another strong quarterly trading update, with consolidated revenue up 91% year-on-year, driven by 145% growth within the Australian division,” read the Elvest memo.

The Smartpay share price is up almost 8% year to date, after enjoying a 24% rally since mid-October.

The future is looking bright with the ASX share’s zero-cost product ‘Smartcharge’ striking a chord with merchants, according to Elvest analysts.

“The business has healthy momentum heading into the seasonally stronger December quarter,” the memo read.

“Continued execution should drive a significant lift in free cash flow over the next two years.”

The $200 million business, much like RPMGlobal, is not yet attracting much analyst attention.

But according to CMC Markets, both Blue Ocean Equities and Shaw & Partners are recommending this ASX share as a strong buy.

The post Triple-digit growth: 2 ASX shares Elvest is investing in for the long haul appeared first on The Motley Fool Australia.

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

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

More reading

• The ASX share I’d hold onto for dear life: fund manager
• Fundie reveals 3 ‘top notch’ ASX shares to buy right now
• This embattled ASX All Ords mining share is gearing up to be a FY23 winner: fundie

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

from The Motley Fool Australia https://ift.tt/FA5XTwK

The Rio Tinto Limited (ASX: RIO) share price suffered in October. It went backwards by 5.6%. But that was in stark contrast to the S&P/ASX 200 Index (ASX: XJO) which climbed by 6%.

Why was there such a difference in the performance?

Well, first let’s consider the ASX 200.

The index’s movements are decided by the underlying constituents. A key reason for the gain of the ASX 200 was the movements of the big banks.

In October 2022, the Commonwealth Bank of Australia (ASX: CBA) share price climbed by 15.4%, the National Australia Bank Ltd (ASX: NAB) share price grew by 12.5%, the Westpac Banking Corp (ASX: WBC) share price rose by 16.8% and the Australia and New Zealand Banking Group Ltd (ASX: ANZ) share price climbed 12.1%.

That may explain why the ASX 200 did well, but what about Rio Tinto?

Rio Tinto’s eventful month

During the month, Rio Tinto announced that it had agreed to modernise its joint venture with Wright Prospecting, which covers the Rhodes Ridge project in Western Australia. This project is reportedly home to one of the world’s largest and highest-quality undeveloped iron ore deposits. This updated an existing agreement dating back to 1972.

The initial plant capacity could have up to 40 million tonnes annually, subject to the receipt of relevant approvals.

Rio Tinto also issued a letter to Turquoise Hill shareholders – this is a business that partly owns the large copper mining project in Mongolia. The ASX mining share confirmed that its offer of C$43 in cash was its “best and final offer”. That offer represented a premium of 67% compared to the share price immediately before its proposal.

The mining blue chip also announced its quarterly production for the three months to September 2022 (which was Rio Tinto’s 2022 third quarter).

It said that it produced 84.3 million tonnes (mt) of iron ore over the quarter, which was 7% more than the second quarter of 2022.

Aluminium production was 759kt, an increase of 4% over the 2022 second quarter.

Mined copper production was 138kt, this was a rise of 9% compared to the second quarter of 2022.

Rio Tinto also noted that it has approved growth capital for underground mining at Kennecott, early works funding for the Rincon lithium project and that it continues to progress Oyu Tolgoi.

So, what went wrong?

Perhaps unsurprisingly, what’s usually the biggest influence on the Rio Tinto share price is movements in resource prices, particularly the iron ore price.

According to Commsec, the iron ore price had dropped to around US$92.43 at the end of the month. It was down from around US$98 at the start of the month. In other words, the drop in the Rio Tinto share price was fairly similar to the decline in the iron ore price.

As China is the biggest customer of Australian iron ore, changes in demand – and expectations of future demand – may have the biggest impact on Rio Tinto’s earnings.

The post Why did the Rio Tinto share price underperform by over 10% in October? appeared first on The Motley Fool Australia.

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

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

More reading

• Why is the Rio Tinto share price faring worse than the ASX 200 today?
• What’s the forecast for the iron ore price right now?
• I think right now is the time to buy these 2 ASX dividend shares
• Why Atlantic Lithium, Coronado Global, Lake Resources, and Rio Tinto are charging higher
• Why is the Rio Tinto share price pushing higher today?

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

from The Motley Fool Australia https://ift.tt/MOmGLW4

On Thursday, the S&P/ASX 200 Index (ASX: XJO) tumbled deep into the red after the US Federal Reserve increased rates by 0.75%. The benchmark index fell 1.85% to 6,857.9 points.

Will the market be able to bounce back from this on Friday and end the week on a high? Here are five things to watch:

ASX 200 expected to edge lower

The Australian share market looks set to end the week in the red after a mixed night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open 10 points or 0.1% lower this morning. In late trade in the United States, the Dow Jones is up slightly, the S&P 500 has risen fallen 0.5%, and the Nasdaq has dropped 1.15%.

Oil prices tumble

Energy shares such as Beach Energy Ltd (ASX: BPT) and Woodside Energy Group Ltd (ASX: WDS) could have a poor finish to the week after oil prices tumbled overnight. According to Bloomberg, the WTI crude oil price is down 2% to US$88.23 a barrel and the Brent crude oil price is down 1.5% to US$94.70 a barrel. Global recession concerns are weighing on prices.

CSL R&D event

The CSL Limited (ASX: CSL) share price will be on watch today when the biotherapeutics giant holds its annual research and development (R&D) event. At the event, CSL will be providing investors with a comprehensive review of its clinical development programs. It may also provide the market with updates on current commercial operations.

Woolworths named as a buy

The Woolworths Group Ltd (ASX: WOW) share price remains great value following its first quarter update. That’s the view of analysts at Goldman Sachs, which have reiterated their conviction buy rating with a trimmed price target of $41.70. It said: “Despite a noisy and softer 1Q23, we remain confident that WOW is the superior operator within AU supermarkets.”

Gold price falls

Gold miners such as Newcrest Mining Ltd (ASX: NCM) and St Barbara Ltd (ASX: SBM) could have a difficult end to the week after the gold price dropped overnight. According to CNBC, the spot gold price is down 0.95% to US$1,634.60 an ounce. The precious metal came under pressure following hawkish commentary from the US Federal Reserve.

The post 5 things to watch on the ASX 200 on Friday appeared first on The Motley Fool Australia.

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

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

More reading

• Why did the South32 share price melt more than the market today?
• Here are the top 10 ASX 200 shares today
• Why is the Rio Tinto share price faring worse than the ASX 200 today?
• How is the Qantas share price avoiding today’s carnage?
• Why Bravura, Domino’s, Lendlease, and Woolworths shares are sinking

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 CSL Ltd. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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

Are you interested in adding some ASX growth shares to your portfolio in November? If you are, you may want to look at the two listed below that have recently been named as buys.

Here’s what you need to know about them:

Allkem Ltd (ASX: AKE)

The first ASX growth share that could be a buy this month is Allkem.

Allkem is the lithium giant that owns a collection of quality projects across several product types. These operations include Olaroz, Mt Cattlin, and the Sal de Vida brine project.

Lithium certainly is a great commodity to be working with right now. With lithium prices at sky high levels and tipped to stay that way in the near term, Allkem appears well-positioned to deliver bumper earnings in the coming years. Particularly given management’s plan to grow its production 3x by 2026 and command a 10% share of global lithium production over the long term.

Macquarie is very positive on the company’s outlook and has an outperform rating and $21.00 price target on its shares.

Temple & Webster Group Ltd (ASX: TPW)

Another ASX growth share that has been named as a buy is Temple & Webster.

It is Australia’s leading pure-play online retailer of furniture and homewares.

Temple & Webster has been growing at a strong rate for a number of years thanks to the shift to online shopping. And with the shift in this category still in its early stages compared to other categories, the company appears well-placed to continue benefiting and growing strongly for some time to come.

Goldman Sachs expects that to be the case. In addition, the broker highlights that the category favours scale players, requires a specialised approach to e-commerce, and has higher barriers to entry. This all bodes well for Temple & Webster.

Goldman has a buy rating and $7.55 price target on the company’s shares.

The post 2 excellent ASX growth shares that analysts say are buys appeared first on The Motley Fool Australia.

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

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

More reading

• Which ASX 200 mining shares managed to dig up gains in October?
• 3 ASX All Ords shares starting the week on fire
• Here are the 10 most shorted ASX shares
• Are non-producing ASX lithium companies now way over-priced?
• How I’d aim to find under-the-radar ASX shares that are pandemic-era bargains

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

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

This one ASX mining share has been up and down like a yo-yo today.

The WA1 Resources Ltd (ASX: WA1) share price finished 24.62% in the red after soaring higher in earlier trade.

This morning, WA1 Resources shares exploded out the blocks, soaring 46.73% from $1.99 to $2.92. For comparison, the S&P/ASX 200 Materials Index (ASX: XMJ) fell 2.96% today.

Let’s take a look at what went on with this ASX mining share today.

ASX mining share resumes trading

WA1 Resources shares soared a staggering 1,321% between market close on 21 October and 1 November.

On Tuesday, the company’s shares were placed on ice after exploding 60% earlier in the day. WA1 entered a trading halt voluntarily after receiving a price query from the ASX.

Today, WA1 Resources resumed trading after releasing its response to the ASX volume query after the market closed on Wednesday. The company confirmed it is in compliance with the listing rules.

In its response, the company pointed to “substantial recent media coverage” of the company’s discovery at the West Arunta project in Western Australia.

As announced by the company on 26 October, WA1 Resources has discovered a mineralised carbonatite system at the mine.

WA1 told the ASX assay results for six other drill holes at the project are due to be received next week. These results will be released following a comprehensive review by the company.

On 27 October, WA1 Resources released a corporate overview of the company, including the maiden drill program. The company’s mission is to “discover a tier one deposit in WA’s unexplored regions and create value for all stakeholders”.

WA1 Resources listed on the ASX on 8 February this year.

WA1 Resources share price snapshot

The WA1 Resources share price has soared 650% in the year to date. In the past month, the company’s shares have skyrocketed by 868%.

For perspective, the ASX 200 Materials Index has gained nearly 4% in the past year.

This ASX mining share has a market capitalisation of about $43.5 million based on today’s closing price.

The post Up 47% and down 25% in one day, what’s with this ASX mining share? appeared first on The Motley Fool Australia.

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

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

More reading

• Why was this ASX mining share placed on ice after exploding 60% today? 
• 3 ASX mining shares going gangbusters on Thursday

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.

from The Motley Fool Australia https://ift.tt/7Y9uZJC

The Piedmont Lithium Inc (ASX: PLL) share price closed 4.59% lower today amid a broad sell-off across Australian and US markets.

Shares of the integrated lithium business closed trading for 93 cents each.

The materials sector was the worst performer on Thursday, with the S&P/ASX 200 Materials Index (ASX: XMJ) losing 2.96%.

Other ASX lithium shares were also not spared from the downturn. Here’s a quick look at how they performed:

• Pilbara Minerals Ltd (ASX: PLS) down 1.37%
• Mineral Resources Limited (ASX: MIN) down 3.12%
• Allkem Ltd (ASX: AKE) down 2.49%

The broader Australian market took a hit too, with the S&P/ASX 200 Index (ASX: XJO) losing 1.84%.

Of course, most of the damage here at home is also reflected in the slide of US markets overnight.

The Nasdaq Composite (NASDAQ: .IXIC) lost 3.36% and made a new five-day low. The S&P 500 Index (SP: .INX) lost a significant amount too, down 2.50%.

Markets are reeling amid comments made by Federal Reserve chairman Jerome Powell overnight. Let’s cover the highlights.

What did Powell say?

My Foolish colleague Bernd notes that while the 0.75% rate hike may have been expected and largely priced in, nobody could have anticipated that Powell would make such hawkish comments in a press conference after the Fed meeting took place.

He said inflation remains high and he has the expectation that interest rates will continue to rise to get it under control.

Powell said:

The level of rates that we estimated in September, the incoming data suggests that’s actually going to be higher. There is no sense that inflation is coming down… We’re exactly where we were a year ago.

The bigger picture, though, is that Powell also thinks the Fed’s chances of preventing a recession while getting inflation under control are becoming increasingly less likely.

When asked if he believes the chance of the Fed executing a ‘soft landing’ has been affected, Powell replied: “Has it narrowed? Yes. Is it still possible? Yes.”

Powell added:

The inflation picture has become more challenging over the course of this year, without a question. That narrows the path to a soft landing.

Piedmont Lithium share price snapshot

The Piedmont Lithium share price is now down 6% in the past two days after also falling 1.5% on Wednesday.

However, its shares are up 27% year to date. That’s a steep gain over the S&P/ASX 200 Index, which is down around 8% over the same period.

The company’s market capitalisation is around $1.55 billion.

The post Why did the Piedmont Lithium share price plunge on Thursday? appeared first on The Motley Fool Australia.

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

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

More reading

• These were the best ASX lithium shares to buy in October
• 4 ASX lithium shares surging more than 10% today
• Guess which ASX lithium company is the biggest holder of Sayona Mining shares?
• Why Challenger, Novonix, Piedmont Lithium, and Woodside shares are racing higher
• 3 ASX lithium stocks leaping higher on big news

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

from The Motley Fool Australia https://ift.tt/FHYP13z

The South32 Ltd (ASX: S32) share price finished in the red alongside other ASX mining shares today after the United States interest rate decision caused the broader market to panic.

The South32 share price dived 3.16% to close Thursday’s session at $3.68.

The S&P/ASX 200 Materials (ASX: XMJ) was the worst-performing sector index today, down 2.96%.

The S&P/ASX 200 Index (ASX: XJO) fell 1.84%.

Let’s look at what happened.

South32 share price feels the heat

The fourth consecutive 0.75% increase in US interest rates isn’t great news for ASX mining shares.

Nor is the Fed Chair’s comment that “incoming data since our last meeting suggest that the ultimate level of interest rates will be higher than previously expected”. Mic drop.

US rates are now at their highest level since the global financial crisis in 2008.

What the US does in its economy tends to have a major flow-on effect on the rest of the world. That includes international commodity markets, many of which trade in US dollars.

The main metals that South32 mines are aluminium, manganese, nickel, and coal.

The first three are holding up okay but the price of coal has slipped 6.6% over the past week and 9.5% over the past month, according to Trading Economics data.

That might not sound dramatic but the market has been in a lather over ASX coal shares for some time. The coal price is up almost 130% over the past year. It hit a historical peak of above US$430 per tonne in September. So, investors have been hyped.

But the coal price has since fallen. Maybe this downturn might have investors taking profits now?

We note that South32 is one of the highest-traded shares on the ASX 200 today.

South32 share price falling since May

The South32 share price is down 9.6% in the year to date.

As my Fool colleague Tristan reported this week, South32 shares are down 28% in five months.

The post Why did the South32 share price melt more than the market today? appeared first on The Motley Fool Australia.

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

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

More reading

• Here are the top 10 ASX 200 shares today
• Why is the Rio Tinto share price faring worse than the ASX 200 today?
• How is the Qantas share price avoiding today’s carnage?
• Here are the 3 most traded ASX 200 shares on Thursday
• Why is the BetaShares Nasdaq 100 ETF taking a thrashing today?

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

from The Motley Fool Australia https://ift.tt/HnQUGT8