The S&P/ASX 200 Index (ASX: XJO) soared to its highest point in nine months on Thursday, peaking at 7439.7 points before slipping slightly to close 0.57% higher at 7,435.3 points.

That was despite a poor session on Wall Street overnight. The Dow Jones Industrial Average Index (DJX: .DJI) fell 1.8% on Wednesday overseas, while the S&P 500 Index (SP: .INX) dropped 1.6%, and the Nasdaq Composite Index (NASDAQ: .IXIC) slipped 1.2%.

Back home, mining shares led the market higher, with the S&P/ASX 200 Materials Index (ASX: XMJ) rising 1%, driven by iron ore giants and lithium favourites.

The S&P/ASX 200 Health Care Index (ASX: XHJ) also outperformed, gaining 0.9%.

Meanwhile, an 4.7% gain from Viva Energy Group Ltd (ASX: VEA) wasn’t enough to stop the S&P/ASX 200 Energy Index (ASX: XEJ) from falling 0.7% alongside oil prices. The black liquid’s value slipped around 1% overnight.

So, with all that covered, let’s take a look at the 10 shares outperforming all others on Thursday.

Top 10 ASX 200 shares countdown

Shares in Nanosonics Ltd (ASX: NAN) posted the ASX 200’s biggest gain today, soaring 8% to close at $5.12.

The company dropped exciting earnings for the first half of financial year 2023 this morning, detailing a 35% jump in revenue and a 39% lift in profits.

These shares made today’s biggest gains:

ASX-listed company	Share price	Price change
Nanosonics Ltd (ASX: NAN)	$5.12	8.02%
Viva Energy Group Ltd (ASX: VEA)	$2.87	4.74%
Suncorp Group Ltd (ASX: SUN)	$12.36	3.69%
Rio Tinto Limited (ASX: RIO)	$125.96	3.25%
Imugene Limited (ASX: IMU)	$0.16	3.23%
Allkem Ltd (ASX: AKE)	$12.61	2.94%
Iluka Resources Limited (ASX: ILU)	$10.69	2.69%
Resmed Inc (ASX: RMD)	$33.38	2.11%
Sandfire Resources Ltd (ASX: SFR)	$6.35	2.09%
TPG Telecom Ltd (ASX: TPG)	$4.98	2.05%

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

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

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More reading

• Brokers say this ASX 200 lithium share can generate big returns
• The Suncorp share price is on fire today. Should you buy?
• Here are the 3 most heavily traded ASX 200 shares on Thursday
• Why Allkem, DGL, Nanosonics, and Rio Tinto shares are pushing higher today
• Nanosonics share price leaps 9% on booming earnings in the first half

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Nanosonics and ResMed. The Motley Fool Australia has positions in and has recommended Nanosonics and ResMed. The Motley Fool Australia has recommended Tpg Telecom. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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Are you a fan of both National Australia Bank Ltd (ASX: NAB) shares and cryptocurrency? If so, I have great news for you.

The S&P/ASX 200 Index (ASX: XJO) big four bank has created a brand new stablecoin, dubbed the AUDN.

Let’s take a closer look at the high-tech currency born from the 41-year-old financial institution.

The NAB share price was trading at $31.77 at the market close, 0.30% higher than its previous close. For comparison, the ASX 200 lifted 0.57% at the close of trade.

NAB reveals AUD-linked cryptocurrency

If you own NAB shares, congratulations may be in order. The bank has revealed a stablecoin – a form of cryptocurrency tied to a fiat currency. In this case, NAB’s AUDN is tied to the Aussie dollar.

The bank created AUDN on the Ethereum blockchain in December. It will soon begin testing its use with internal transactions before expanding to other use cases, for which it will work closely with its corporate clients.

NAB executive of innovation and partnerships Howard Silby commented on the stablecoin’s creation, saying:

We believe that elements of the future of finance will be blockchain enabled because it has the potential to help deliver instantaneous, transparent, and inclusive financial outcomes for customers as our economy becomes increasingly digitised.

As a trusted financial institution we have an important role to play in advancing the maturity of the blockchain enabled sector.

Silby said the bank aimed to use AUDN in cases with “high friction and clear customer benefit”. It imagines AUDN could be used to send money internationally or trade in carbon credits, for instance.

In particular, its attention will be drawn to the benefits of the coin in the corporate and institutional banking sector.

Interestingly, NAB isn’t the first of the big four banks to create an Aussie dollar-linked stablecoin. It was beaten to the punch by ANZ Group Holdings Ltd (ASX: ANZ) last year.

The smallest of the lot created and transacted with its A$DC in March 2022.  

NAB share price snapshot

The NAB share price has been outperforming the broader ASX 200 recently.

The stock has gained 7.9% year to date. Meanwhile, the index has lifted 7%.

Looking further back, the NAB share price has risen 9% over the last 12 months, while the ASX 200 has improved just over 1%.

The post Own NAB shares? Now you also own crypto appeared first on The Motley Fool Australia.

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More reading

• Are NAB shares a good investment ahead of earnings season?
• Up 20% in 6 months, is the Westpac share price now fully valued?
• 3 ASX 200 shares I own for big dividends in 2023
• Which ASX 200 bank shares are the ones to buy in 2023?
• 3 reasons to buy NAB shares right now: Goldman Sachs

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

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The Allkem Ltd (ASX: AKE) share price was on form on Thursday.

The lithium miner’s shares ended the day 3% higher at $12.61.

Why did this ASX 200 lithium share shoot higher?

Investors were buying Allkem’s shares today after brokers responded positively to the company’s latest quarterly update.

For example, according to a note out of Goldman Sachs, its analysts have reiterated their buy rating and lifted their price target on the company’s shares to $15.50.

Goldman notes that the Olaroz operation performed ahead of expectations, offsetting a softer performance from the Mt Cattlin operation. It commented:

AKE reported record lithium carbonate production at Olaroz of 4.3kt in 2Q, up 29% QoQ and 16%/19% ahead of GSe/consensus, with operational improvements expected to continue into the 2H and third party pricing of US$53,013/t and to remain flat into 3Q. Spodumene production at Mt. Cattlin was below GSe/consensus on ore availability/grade, though mining progression into 2H supports unchanged FY23 production/cost guidance, while realised pricing of US$5,284/t CIF (~US$6,000/t FOB on a SC6 equivalent basis) is expected to improve a further 5% in the Mar-23 quarter.

Over at Bell Potter, its analysts were pleased with the update. In response, the broker retained its buy rating with a slightly trimmed price target of $19.36.

Once again, it was pleased with the performance of the Olaroz operation, which smashed its estimates. It also highlights that Allkem’s costs were lower than it was expecting. It said:

December 2022 quarter lithium carbonate production of 4.3kt (BP est. 3.3kt) and sales of 3.1kt (BP est. 3.3kt). Unit costs were US$4,682/t (BP est. US$5,260/t) and average realised third party prices of US$53,013/t or when including internal technical grade sales to Naraha, US$46,706/t (BP est. $46,900/t).

Big returns ahead

Based on where this ASX 200 lithium share is trading right now, the Allkem share price could generate strong returns for investors this year.

Goldman Sachs’ price target of $15.50 implies potential upside of 23%. Whereas Bell Potter’s price target of $19.36 suggests even greater upside of approximately 54%.

Goldman explained why it is bullish. It concludes:

With optionality across the Americas and Australia on the largest lithium resource in our coverage growing equity LCE production >4x by FY27E, and at a discount to peers at 0.8x NAV (peer average ~1.1x), Allkem is our preferred lithium exposure. We maintain a Buy rating on an increased 12-month PT of A$15.5/sh.

The post Brokers say this ASX 200 lithium share can generate big returns appeared first on The Motley Fool Australia.

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More reading

• Why Allkem, DGL, Nanosonics, and Rio Tinto shares are pushing higher today
• 5 things to watch on the ASX 200 on Thursday
• Guess which ASX 200 lithium share just capped off a record quarter
• Why are ASX 200 lithium shares struggling on Monday?
• 2 ASX 200 mining shares to buy as China reopens: analysts

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

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The Suncorp Group Ltd (ASX: SUN) share price is on a roll today, up 3.5% in late afternoon trading to $12.34 per share.

In fact, the Suncorp share price is today’s third-best performer among the S&P/ASX 200 Index (ASX: XJO).

It’s been a good day for ASX bank shares, with the big four and Macquarie Group Ltd (ASX: MQG) all in the green. This may be related to today’s weaker-than-expected jobs report, which could signal the economy is slowing in response to the Reserve Bank’s rapid 3% increase in the cash rate last year.

This could mean interest rates may not rise as high as previously thought — and the share market is liking that prospect. The ASX 200 is up 0.6% presently to 7,438 points.

What’s the latest with the Suncorp share price?

As my Fool colleague Brooke recently reported, the Suncorp share price outperformed most other ASX 200 bank shares in 2022.

The stock rose from $11.07 to $12.04 – or 8.8% – over the year. That compares to a 5.5% fall in the ASX 200 and an almost 3% fall in the S&P/ASX 200 Financials Index (ASX: XFJ).

Of course, soon enough Suncorp will no longer be a bank share given it is in the process of selling its banking division to ANZ Group Holdings Ltd (ASX: ANZ).

Earnings season is upon us once again, and Suncorp will release its half-year results on 8 February. The ex-dividend date will be 14 February and the payment date will be 31 March.

As reported in the Australian Financial Review today, Morgan Stanley has upgraded its rating on Suncorp to overweight. The broker has a 12-month share price target of $14.50 on the insurance giant.

At today’s share price, a few brokers see a lot of value in Suncorp for dividends this year.

IML portfolio manager Michael O’Neill projects a forward 6.8% dividend yield for Suncorp in FY24. He says the stock is currently trading on a 12.1 times price-to-earnings (P/E) ratio.

At the end of 2022, Morgans had an add rating on Suncorp shares with a $13.98 price target. The broker foresees an 80-cent dividend from Suncorp in FY24 — a yield of 6.5% on today’s share price.

Suncorp share price snapshot

The Suncorp share price reached an intraday high of $12.42 earlier today.

The stock is up by 5.65% over the past 12 months compared to a 1.4% increase in the ASX 200.

It’s had a great start to 2023, up 4.4% since 3 January.

The post The Suncorp share price is on fire today. Should you buy? appeared first on The Motley Fool Australia.

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More reading

• 4 best ASX dividend shares to buy right now: expert
• Why ASX dividend shares are so ‘critical’ right now: fundie
• When it comes to ASX 200 dividend shares, is boring better?
• How to minimise risk using ASX 300 dividend shares: fundie
• The 3 ASX 200 bank shares that outperformed all others in 2022

Motley Fool contributor Bronwyn Allen has positions in Anz Group and Macquarie 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 recommended Macquarie 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 S&P/ASX 200 Index (ASX: XJO) has recovered from some early wobbles and is pushing higher so far during this Thursday’s trading session.

At the time of writing, the ASX 200 is well back over 7,400 points, recording a gain of 0.61% at present to just under 7,440 points.

So time now to dig deeper into these market moves by having a look at the ASX 200 shares currently topping the share market’s trading volume charts, according to investing.com.

The 3 most traded ASX 200 shares by volume this Thursday

Telstra Group Ltd (ASX: TLS)

ASX 200 telco Telstra is our first share worth taking a gander at today. The telecommunications giant has had a sizeable 17.7 million of its shares rung up for sale this session thus far. We’ve had no fresh news out of Telstra for a while now. So we can probably put this volume down to the actions of the Telstra share price itself.

Telstra is currently up a meaty 1.47% at $4.15 a share, well outdoing the performance of the broader market. The company touched a high of $4.16 earlier today as well. That is starting to put the company’s 52-week high of $4.27 in reach.

Nickel Industries Ltd (ASX: NIC)

ASX 200 nickel producer Nickel Industries is our next share to take a look at. So far this session, a notable 19.54 million shares have changed hands. This looks to be a consequence of Nickel Industries shares returning to market after a trading halt this week.

This was held in order to facilitate a capital raising from institutional investors, conducted at $1.02 per share. Nickel Industries shares have fallen to around that level today, with the company nursing a nasty 8.3% loss at present to $1.03 a share. This is probably the cause of the high volumes we see.

Alumina Limited (ASX: AWC)

ASX 200 aluminium and alumina producer Alumina is our final and most traded share of the day so far. Alumina has watched as a hefty 22.85 million of its shares have been traded this Thursday so far. This is almost certainly a result of the disappointing results Alumina released covering the December quarter.

As my Fool colleague Bronwyn covered earlier today, this was the company’s post earnings of $27 million, down from the $69 million that was made during the previous quarter. Investors have been disappointed with these numbers, and have sent Alumina shares down by a depressing 8.12% to $1.56 a share.

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

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More reading

• 3 ASX All Ords shares getting hammered on disappointing results
• Why Alumina, Netwealth, Nickel Industries, and Paladin Energy shares are falling today
• 2 high-dividend shares to buy today for early retirement
• Will Lake Resources become profitable in 2023?
• Can income investors bank on CBA growing its dividend yield by 18%?

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

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When a company director buys up 25,000 of their own company’s shares, it’s certainly an event to take note of. Yes, that’s what has happened this week with one ASX All Ords share. 

Race Oncology Ltd (ASX: RAC) is an All Ords healthcare share. Its Zantrene cancer drug is currently in development, which the company hopes will protect against several types of cancer:

Earlier this week, the company put out an ASX notice regarding director Dr Daniel Tillett. Tillett is an executive director at Race Oncology, as well as the company’s chief science officer.

This announcement declared that Tillett had acquired 25,550 shares over 11, 12 and 13 January in on-market purchases. At today’s share price of $2 (at the time of writing), those 25,550 shares would have a value of $51,100.

This latest purchase brings Tillett’s total holdings in Race Oncology to 13,685,282 fully-paid ordinary shares. That stake would have a value of $27.32 million right now.

Tillett also owns another 2,307,925 shares (worth another $4.6 million) that are under voluntary escrow until November 2023. In addition, he also owns 2 million options, exercisable at a price of $2.65 and which expire in November 2025.

Do All Ords investors like management buying shares?

So why does this matter to ordinary ASX investors? Well, shareholders usually like to see that the management team has significant skin in the game when it comes to the fortunes of the company they are running.

They tend to like it even more when said management team adds skin to said game. That is exactly what has happened this week with Tillett and his 25,550 new shares.

Shareholders of Race Oncology have also had a stellar run over the past few years. The company may be significantly down from its 2021 highs of close to $4 a share. But it was only back in 2019 that Race was a 5-cent penny stock. So longer-term investors have enjoyed returns of close to 4,000% in just a couple of years.

The post This ASX All Ords director has bought 25,000 of his company’s shares in a week appeared first on The Motley Fool Australia.

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More reading

• 3 ASX mining shares rocketing more than 18% on Thursday
• Should I buy Woodside shares in 2023?
• 3 ASX 200 companies brimming with cash right now
• 3 ASX All Ords shares getting hammered on disappointing results
• Why have 2 DroneShield directors sold off 10 million of their shares in the past fortnight?

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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It’s a sunny day on the ASX. The benchmark All Ordinaries Index (ASX: XAO) is gaining 0.51% at the time of writing. But that’s nothing compared to the surges being recorded by these ASX mining shares.

Let’s take a look at three ASX materials and resources stocks soaring as high as 18% on Thursday.

3 ASX mining shares taking to the skies today

First up, the Patriot Battery Metals Inc (ASX: PMT) share price is taking off today. It’s lifting 29% right now to trade at $1.13.

Its surge follows news the lithium developer has identified the highest-grade intercept yet at its Corvette Property in Quebec, Canada.

Drilling at the project returned 156.9m at 2.12% lithium oxide, including 25m at 5.04% lithium oxide or 5m at 6.36% lithium oxide.

Patriot Battery Metals floated on the ASX in early December following a $4.2 million initial public offering (IPO).

Joining the lithium share to post a whopper of a gain today is a slightly unusual mining company. The Minbos Resources Ltd (ASX: MNB) share price is up 18% right now, trading at 13 cents.

ASX market watchers are likely used to seeing mining companies digging for metals.

Minbos, on the other hand, is digging for phosphate rock – a key ingredient in some fertilisers.

It’s also building a plant to produce enhanced phosphate rock granules, which will become feed stock for fertiliser designed for the Angolan agricultural sector.

Today, the company announced the fertiliser plant and equipment were on their way to the African nation, with the first shipments having already arrived.

Additionally, it said initial construction activities at its Cácata phosphate deposit remained on target and within budget.

The final mining share posting a whopping gain today is Aruma Resources Ltd (ASX: AAJ). The stock is up 20.2% right now, trading at 9.5 cents.

Interestingly, there’s been no news from the tiny lithium hopeful to explain today’s rise.

The last time the market heard anything from the company was last week when it released a positive update on assay results from its Mt Deans Lithium-Rubidium Project.

The post 3 ASX mining shares rocketing more than 18% on Thursday appeared first on The Motley Fool Australia.

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More reading

• ‘Hard to find words’: Why this ASX lithium share is rocketing 22%
• Own ASX lithium shares? Here’s the latest lithium price forecast
• 2 tiny ASX lithium shares leaping over 20% on BIG news
• This under-the-radar ASX battery metals share is leaping 15% on Friday. Here’s why

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

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The Woodside Energy Group Ltd (ASX: WDS) share price has charged higher in the last year, but is it still worth buying in 2023? Woodside shares have soared 44% in the last year.

In today’s trade, Woodside shares are falling 1.08% to $36.60 after the oil price fell overnight.

So what is the outlook for the Woodside share price in 2023?

What’s ahead?

Woodside is a global oil and gas producer. The price of oil and gas tends to weigh heavily on Woodside shares, given it can impact the company’s earnings.

A positive report out of UBS in January may signal good news for the oil price. The UBS chief investment office is tipping crude oil prices to rise in 2023. In fact, UBS believes oil to outperform coal in 2023:

Analysts said:

The energy problems of 2022—redirected Russian supply, chronic underinvestment in upstream capacity— are here to stay. And with demand recovering in China as well as in emerging markets overall, energy prices should continue to climb in 2023.

But unlike last year, when thermal coal replaced natural gas and crude oil as best performer, the UBS Chief Investment Office (CIO) expects oil to come out on top in 2023.

UBS is predicting brent crude oil to reach US$110 a barrel in 2023, and WTI oil to lift to US$107 a barrel.

Looking at the gas price, UBS is predicting natural gas to hit US$4.5 per MMBtu by mid-2023 and US$5 MMBtu by the year’s end. UBS said:

Overall, we expect natural gas demand (including net exports) to rise by about 1 billion cubic feet per day in 2023.

Natural gas is currently down 1.03% and fetching US$3.28 per MMBtu, Bloomberg Energy data shows. Meanwhile, the crude oil price is sliding 0.84% to US$84.27 a barrel, while WTI crude oil is priced at US$78.67 a barrel.

What else?

UBS is not the only analyst forecasting the oil price to rise. Goldman Sachs global head of commodities research Jeff Currie recently tipped oil to hit US$90 a barrel this quarter before lifting to US$95 a barrel in the June quarter amid China’s reopening.

Meanwhile, Citi analysts are tipping Woodside dividends to jump in FY23 and FY24. As my Foolish colleague James reported, the broker is predicting Woodside to pay a fully franked dividend of $3.47 per share in FY23 and $3.38 a share in FY24.

Citi has placed a $38.50 price target on Woodside shares and recommends it as a buy.

Woodside share price snapshot

The Woodside share price has climbed 3% year to date. In the last month, Woodside shares have climbed 3%.

Woodside has a market capitalisation of about $69 billion based on the current share price.

The post Should I buy Woodside shares in 2023? appeared first on The Motley Fool Australia.

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More reading

• 5 things to watch on the ASX 200 on Wednesday
• Attention income investors! These 7 ASX 200 dividend shares are projecting yields of 7%+ in FY24
• Can Woodside shares deliver 9% yields for ASX income investors in 2023 and 2024?
• 5 things to watch on the ASX 200 on Monday
• Burning hot: The outlook for ASX 200 energy shares in 2023

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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There aren’t too many things more valuable than a stack of cash during rocky economic times. Surprisingly though, there are only 53 companies inside the S&P/ASX 200 Index (ASX: XJO) that are currently in a net cash position.

The prospects of a looming recession in 2023 are beginning to show. Overnight, one of the world’s biggest tech companies, Microsoft Corp (NASDAQ: MSFT), announced it was letting go of 10,000 employees in preparation for a challenging future.

If a recession were to materialise, having plenty of cash on hand (with minimal debt) could mean a company weathers the storm, whereas others with weaker balance sheets might not. It can also allow companies to be opportunistic — making strategic acquisitions and growing market share.

Here are three companies that are currently cashed up.

These ASX 200 shares are rolling in dough

Before we get underway, it is worth mentioning that there are ASX-listed companies with more net cash than those that will be highlighted below.

For example, CSL Limited (ASX: CSL) almost tops the list with $1,130 million in net cash, but it also has plenty of debt. The biotech giant held approximately 57% of its equity in debt at the end of June 2022.

The companies included below hold a large pile of net cash, but also a relatively low exposure to debt.

Magellan Financial Group Ltd (ASX: MFG)

You might be caught off guard by Magellan making an appearance in this list after its share price has fallen 47% over the past 12 months.

Despite the immense panic surrounding the fund managers’ declining funds under management (FUM), the company can attest to holding $420 million in net cash. To Magellan’s credit, the balance sheet remains debt free at this time.

However, the question is: Will the company’s fortress-like balance sheet remain intact as it tries to curb outflows? On 6 January, Magellan reported a further 10% decline in FUM to $45.3 billion. Shockingly, this is 60% less money being managed by the company compared to a year ago.

Lynas Rare Earths Ltd (ASX: LYC)

The next entrant to the ‘swimming in cash’ ensemble is the rare earths miner and refiner — Lynas Rare Earths. This ASX 200 company has also hit a rough patch for its share price — sliding 23% throughout the last year.

Nevertheless, a falling share price hasn’t stopped Lynas from raking in monster profits lately. In FY22, the company reported $540.8 million in earnings at a 59% net profit margin… mindblowing stuff! The rare earth bonanza has helped fortify the balance sheet with $779 million in net cash.

Lynas is slated to report its latest quarterly results on 30 January.

Whitehaven Coal Ltd (ASX: WHC)

Last but not least is the coal-producing Whitehaven Coal. Parading a mindboggling net cash holding of $1,169 million.

It’s a turnaround story if I’ve ever seen one. A year and a half ago, Whitehaven had $729 million of debt hanging over its head with just a smidgen of cash. Now, the company’s debt is less than $50 million and is almost insignificant compared to its cash holdings.

The monumental change has been the result of abnormally high profits due to record coal prices. Based on current forecasts, the earnings windfall for this ASX 200 share could be even larger in FY23.

The post 3 ASX 200 companies brimming with cash right now appeared first on The Motley Fool Australia.

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More reading

• Why is the Whitehaven share price flaming out today?
• 3 high-yield ASX shares I think are dividend traps right now
• Can ASX 200 coal shares really deliver dividend yields of over 10% in FY24?
• Attention income investors! These 7 ASX 200 dividend shares are projecting yields of 7%+ in FY24
• Burning hot: The outlook for ASX 200 energy shares in 2023

Motley Fool contributor Mitchell Lawler has positions in Lynas Rare Earths. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended CSL and Microsoft. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The S&P/ASX All Ordinaries Index (ASX: XAO) is in the green today, up 43%. But investors are dumping these three ASX All Ords shares following the release of their quarterly results today.

Let’s take a look at the detail.

Praemium Ltd (ASX: PPS)

The Praemium share price is down 4.72% to 75.8 cents at the time of writing after falling as low as 73 cents this morning.

The ASX All Ords share opened at 75 cents following the release of its 1H FY23 results before the market began trading. This was a 6.25% fall on yesterday’s closing price.

Praemium provides administration software, investment platforms, and financial planning tools to the wealth management industry.

The company reported unaudited figures showing total funds under administration (FUA) increased by 6% to $42.7 billion over the six months ending 31 December 2022. However, there was a big dip in net inflows, down 53% to $1,016 million compared to the half-year ending 31 December 2021.

Praemium CEO Anthony Wamsteker said:

Investor sentiment has been very subdued in the wake of three successive previous quarters of negative markets and high volatility.

The Praemium share price is down 46% over the past 12 months.

Alumina Limited (ASX: AWC)

The Alumina share price is down 7.35% to $1.575 at the time of writing. The ASX All Ords share opened at $1.64 following the pre-open release of its joint venture partner’s 4Q 2022 results. This was a 3.5% fall on yesterday’s closing price.

Alumina has a 40% equity share of Alcoa World Alumina and Chemicals (AWAC), which owns substantial global bauxite reserves and operates alumina refineries.

Alcoa reported a substantial decline in adjusted earnings before interest, tax, depreciation, and amortisation (EBITDA) for its alumina segment over the December quarter. Alumina’s EBITDA was $27 million, down from $69 million in 3Q 2022.

Bauxite EBITDA was $24 million, an increase from $15 million in 3Q 2022.

This resulted in lower net distributions to Alumina at $4.5 million in the second half of 2022.

Alumina CEO Mike Ferraro hinted the board may not declare a final dividend for 2022 this earnings season. He blamed increased input costs and subdued alumina prices for the poor results.

Ferraro said:

Despite these near-term challenges, AWAC will benefit from an improvement in alumina prices. The re-opening of China, reduction in shipping costs, recent refinery curtailments, and smelter restarts in Europe and the Americas all provide support for alumina prices.

We note that the alumina price has increased since the start of 2023 to $360/t on 18 January 2023.

The Alumina share price is down 23% over the past 12 months.

Carnarvon Energy Ltd (ASX: CVN)

The Carnarvon share price is down 1.61% to 15.3 cents at the time of writing. The ASX All Ords share opened at 15.5 cents after the company released its December quarter activities and cash flow report before the market open. This was level with yesterday’s closing price.

Carnarvon Energy is an oil and gas exploration company. It reported that operating activities over the quarter cost $1.06 million. It reported a cash or cash equivalents balance of $97.9 million with 19.8 quarters of estimated funding available and no debt.

Managing director Adrian Cook said:

The Company remains very focused on delivering several key Dorado based workstreams, all of which are expected to generate substantial value for shareholders and be reflected in the Company’s share
price over time.

First, the Company’s key strategic priority is to reach a Final Investment Decision (FID) for the Dorado development. The Company is also focused on integrating the Pavo North oil discovery which successfully added an additional 43 million barrels resource.

Concurrently, the Company continues to assess the huge exploration upside potential in the Bedout Sub-basin which we plan to progressively capture. This work has identified combined prospective resources of over 1.5 billion barrels of oil equivalent within the top 20 prospects alone.

The Carnarvon Energy share price is down 51% over the past 12 months.

The post 3 ASX All Ords shares getting hammered on disappointing results appeared first on The Motley Fool Australia.

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More reading

• Why Alumina, Netwealth, Nickel Industries, and Paladin Energy shares are falling today
• Here are the top 10 ASX 200 shares today
• Here’s the next ASX All Ordinaries share I’m going to buy
• These were the 5 top-performing ASX All Ords shares of 2022
• Guess which ASX All Ords tech share is starting 2023 with a 6% gain

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 Praemium. The Motley Fool Australia has recommended Praemium. 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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