Renewable energy is undoubtedly a key thematic on the world stage right now. The shift to so-called ‘green’ sources of power generation has sparked some fairly interesting trends as well.

We’ve all heard about lithium-ion (li-io) batteries – it’s been hard not to – and the (emission-free) glamour that surrounds the electric vehicle space.

It’s no coincidence some of the best-performing ASX shares in 2022 are tied to lithium.

Then there are the other ‘traditional’ sources of renewable energy: solar, wind, geothermal, nuclear, etc.

It really is a new marketplace. Yet, the geopolitical fallback still involves hydrocarbons: oil and gas.

However, one form of clean energy you mightn’t be so familiar with is hydrogen.

Hydrogen is also doing the rounds and making a name for itself as a hot (or cold?) contender for top spot in the green energy stakes.

Let’s take a deep dive into the sector to strip out the fluff and put some flesh on the skeleton of the ASX hydrogen space. Read on.

Hydrogen for fuel?

Hydrogen is a chemical element with the easy-to-remember symbol ‘H’. It is, in fact, the lightest element on the periodic table.

In practical terms, it is a highly combustible and flammable gas that – like natural gas – can also be condensed into a liquid, albeit at roughly minus 253 degrees Celsius.

Hydrogen is found just about everywhere in nature. In particular, water (the classic H2O) and hydrocarbons, like methane, are very common sources.

The gas can also be produced from a variety of sources, such as natural gas, nuclear power, and even renewable energy like solar.

This gives rise to hydrogen’s ‘green’ credentials as hydrogen produced by electrolysis is a more energy-intensive process.

According to the United States Energy Department (USED), “Hydrogen is an energy carrier that can be used to store, move, and deliver energy produced from other sources”.

Hydrogen is also faring as a contender to power fuel cells of non-combustion engines. It can, as USED says, “power fuel cells in zero-emission vehicles”.

But just how efficient and effective is hydrogen at powering vehicles? And how does it stack up compared to ‘traditional’ fuel sources like oil?

Actually, quite well. According to USED:

A fuel cell coupled with an electric motor is 2–3 times more efficient than an internal combustion engine running on gasoline.

The energy in 2.2 pounds (1 kilogram) of hydrogen gas is about the same as the energy in 1 gallon (2.8 kilograms) of gasoline.

So then, does it have any advantage over lithium-ion electric vehicle batteries?

It seems to boil down to two factors: distance and refuelling time.

According to sustainability publisher youmatter: “While most fully electric vehicles can travel between [160–320 kilometres] on a single charge, hydrogen ones can get to [482 kilometres].”

However, there is far less of a gap when comparing premium lithium-ion EV batteries to the best hydrogen fuel cells. Indeed, most prominent EV manufacturers have opted to proceed down the battery-powered technology path.

Interesting debate

The push to discover and develop new forms of fuel for transport has sparked an interesting debate. While hydrogen is abundant on earth, it must undergo a process to separate it into its pure form, and then compress it into fuel cells.

Meanwhile, developing lithium-ion battery technology has led to a wave of new mining ventures on a global scale. Indeed, the International Energy Agency (IEA) says the auto industry will require 30 times the current amount of minerals to meet demand.

We are already seeing the effect this imbalance in supply and demand is causing. The price of lithium hit all-time highs again this week. There are also questions on the ongoing availability of these critical minerals.

And so the debate turns to what’s going to be the best at powering vehicles looking ahead, from a cost and feasibility perspective.

Australian mining figure Andrew Forrest, founder of Fortescue Metals Group Ltd (ASX: FMG), has been leading the hydrogen charge both on our shores and abroad via his investment vehicle Fortescue Future Industries (FFI).

Forrest is aiming to produce 15 million tonnes of green hydrogen by the year 2030, in line with targets set by the European Commission.

When quizzed on how he intends to finance the ambitious goal, he told The Financial Times Hydrogen Summit: “Look, I built $50 billion worth of iron ore infrastructure in the Pilbara…I am very used to executing large capital projects at a cost that is a fraction of what our competitors do,” The Financial Times reported.

He also took a shot at prominent lithium-ion battery proponents, adding: “[Tesla CEO] Elon Musk knows that almost every time a Tesla is plugged into almost every grid in the world, it is just burning coal and oil and gas…[and] it is doing nothing for the environment.”

What’s all this mean for ASX hydrogen shares?

Whilst there’s plenty to like about the future of hydrogen, it hasn’t yet made its mark on the ASX. In fact, the sub-sector continues to face heavy selling pressure.

Shares of Hazer Group Ltd (ASX: HZR), a company that conducts research and development into hydrogen-producing technology, are down 45% this year to date.

In July, the Hazer share price was crushed when the company reported a part for its commercial demonstration project had failed during fabrication.

Meanwhile, shares of Pure Hydrogen Corporation (ASX: PH2) have also headed south and are down 52% since January.

In contrast to the speculative mania setting the lithium/electric vehicle space alight over the past two years, the hydrogen fuel camp hasn’t secured anywhere near the hype.

The returns for both of these ASX hydrogen shares are plotted on the chart below against the S&P/ASX 200 Energy Index (ASX: XEJ), in red, over the past 12 months.

The diversion in performance is abundantly clear, perhaps as abundant as hydrogen is in the environment.

The post Are ASX hydrogen shares worth buying right now? appeared first on The Motley Fool Australia.

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• Fortescue share price edges higher amid $9b ‘industry-leading decarbonisation strategy’
• Why China’s slowdown isn’t as bad as it looks for ASX 200 mining shares
• I would only sell my Fortescue shares if this happened
• 5 things to watch on the ASX 200 on Monday
• Could the latest news out of China bode well for ASX 200 iron ore shares?

Motley Fool contributor Zach Bristow 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 Australian share market has been flooded with lithium shares in recent years and it isn’t hard to see why.

With lithium found in abundance across the country and the white metal commanding mouth-watering prices, there’s a big incentive to dig it out of the ground.

The good news for many of these ASX lithium shares is that one leading analyst is tipping electric vehicle (EV) sales to grow exponentially in the coming years.

And given how the majority of lithium ends up being used in the EV market, this can only be good news for shares such as Allkem Ltd (ASX: AKE) and Pilbara Minerals Ltd (ASX: PLS).

What is being said about the EV market?

According to a note out of Cathie Wood’s ARK Invest, its analysts expect the electric vehicle market to grow quicker than expected.

Director of Research, Autonomous Technology & Robotics, Sam Korus, commented:

Delving into our EV forecast for the next five years, once again we can see the difference between the linear growth rates powering most forecasts and the exponential growth derived from Wright’s Law.

According to Wright’s Law, every cumulative doubling in the number of units produced results in a consistent percentage decline in costs that increases the affordability and uptake of new products like EVs. Driven from Wright’s Law increasing EV affordability, […] we are projecting that, in the absence of autonomous taxi platforms, EV sales will increase more than six-fold to 45 million units, or more than double the 20 million consensus expectation.

If this prediction is accurate, there sure will need to be a lot of lithium produced to build 25 million more EV batteries that consensus expectations.

This bodes well for Allkem and Pilbara Minerals, but also for lithium developers that are nearing the commencement of production such as Core Lithium Ltd (ASX: CXO) and Liontown Resources Limited (ASX: LTR).

The post Is this prediction great news for ASX lithium shares? appeared first on The Motley Fool Australia.

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More reading

• Is this the new frontier for ASX lithium shares?
• Pilbara Minerals share price racks up ninth all-time high for September
• Up 50% in a month, does the Pilbara Minerals share price ‘reflect too much optimism’?
• Here are the top 10 ASX 200 shares today
• Why is the Allkem share price bolting out the gate on Monday?

Motley Fool contributor James Mickleboro has positions in Allkem Limited. 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 Santos Ltd (ASX: STO) share price lifted today, but could it be on a trend to go higher in the future?

Santos shares rose 1.56% today to close at $7.83. For perspective, the S&P/ASX 200 Energy Index (ASX: XEJ) jumped 1.99% today.

Let’s take a look at the outlook for Santos.

Is Santos a buy?

The Santos share price has soared 24% in the year to date. Santos shares hit a high of $8.76 in June before pulling back to the current share price.

Fairmont Equities managing director Michael Gable recommends the Santos share price as a “buy”.

In comments published on The Bull, Gable said he believes Santos will continue to benefit from higher energy prices “for some time”.

He added:

The share price is down from its June peak in response to a short-term retreat in the crude oil price.

However, this presents a buying opportunity, as the share price has recently firmed and is starting to resume its uptrend.

Santos is a major oil and gas producer. The company reported a 230% boost in statutory net profit after tax in FY22 to $1.167 billion.

Santos CEO Kevin Gallagher said: “Demand for our products has remained strong in both Australia and internationally, due to increased demand and shortages of supply from producing nations due to global underinvestment in new supply”.

Santos share price snapshot

Santos shares have soared 28% in the past year. In the last month, Santos shares have risen 4%, while they have lifted 1.56% in the past week.

Santos has a market capitalisation of more than $26 billion based on the current share price.

The post Is the Santos share price ‘starting to resume its uptrend’? appeared first on The Motley Fool Australia.

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• $18 billion of ASX dividends are being paid out this week. Here’s the lowdown
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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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It’s expected recycling of components used in batteries and electric vehicles will help keep EV production sustainable, according to the plans of overseas manufacturers.

Recycling is expected to ramp up once the production of new battery technologies reaches a critical mass, allowing enough components to be reused.

This could mean ASX lithium shares like Pilbara Minerals Ltd (ASX: PLS) and Argosy Minerals Limited (ASX: AGY) — and others with significant production volumes — may enjoy additional tailwinds as recycled materials keep production lines churning.

Some lithium shares, such as the world’s largest lithium producer Albermarle Corporation (NYSE: ALB), based in the US, are already planning to recycle components on Australian soil.

Recycling boom for lithium shares

Albemarle is planning a purpose-built 25,000-tonne production train exclusively for recycling materials from used batteries at its Kemerton lithium plant in Western Australia, as reported by the Australian Financial Review.

Recycling will also allow lithium shares like Albemarle to keep up with soaring demand. Albemarle CEO Kent Masters said the company cannot deliver products fast enough to keep up with its order book:

Every conversation I have with either battery or OEM [original equipment manufacturer] customers, they’re always asking, ‘when can I have more, and where can I get it? And they’re pounding the table around that, and we’re trying to respond to that.

Glencore PLC, a multinational commodities behemoth, has also invested heavily in the future recycling of lithium-ion batteries. The company has invested $US 200 million in Li-Cycle Holdings, a lithium-ion recycler. It’s made a joint venture agreement with Britishvolt to build a battery recycling plant in England, BusinessDay reported.

Recycling might not only fit with the green ethos of reducing emissions but could also become a necessity. Albermarle believes we’re just starting to see the wave of demand for lithium and EVs slowly build before the crest hits the market later this decade, as reported by The Australian.

Zero-carbon lithium creates further scarcity

Albermarle believes that lithium carbonate prices are expected to remain high with companies competing for limited supply. Adding to the scarcity is that governments may be likely to favour, or even impose, zero-carbon lithium extraction processes in a bid to reach emissions targets.

This, in turn, may increase the valuations of some ASX lithium shares such as Vulcan Energy Resources Ltd (ASX: VUL). The company is aiming to use environmentally-friendly geothermal extraction methods to produce lithium. It could see Vulcan’s product trading at a ‘green premium’ in the future.

The post Is this the new frontier for ASX lithium shares? appeared first on The Motley Fool Australia.

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More reading

• Why is the Vulcan Energy share price lifting today?
• Pilbara Minerals share price racks up ninth all-time high for September
• Up 50% in a month, does the Pilbara Minerals share price ‘reflect too much optimism’?
• Here are the top 10 ASX 200 shares today
• Why Lake Resources, Life360, Pilbara Minerals, and PolyNovo shares are storming higher

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.

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Looking for a growth share or two to buy? If you are, you may want to look at the two listed below.

Here’s why these ASX growth shares are rated highly right now:

Altium Limited (ASX: ALU)

The first ASX growth share to look at is Altium. It is the company behind the Altium Designer printed circuit board design (PCB) software.

Altium’s software is regarded as the best in the industry and is used by companies and organisations such as BAE Systems, Dell, Microsoft, NASA, and Tesla for the design of the PCBs found in electronic devices.

The company also has complementary businesses including Nexus and Octopart. The latter is a search engine for electronic and industrial parts, which has been a very strong performer over the last 12 months thanks to supply chain disruption.

Looking ahead, management remains very positive on its outlook and continues to target US$500 million in revenue by 2026. This will be more than double FY 2022’s revenue of US$220.8 million.

The team at Jefferies also appears confident on the company’s outlook. Its analysts currently have a buy rating and $38.13 price target on its shares. 

Readytech Holdings Ltd (ASX: RDY)

Another ASX growth share that has been tipped as a buy is software company Readytech.

It is a leading provider of mission-critical software-as-a-service (SaaS) solutions for the education, employment services, workforce management, government and justice sectors.

It highlights that its software brings together the best in people management systems to help customers navigate complexity, while also delivering meaningful outcomes.

Like Altium, the company has set itself some bold growth targets. Readytech is aiming for FY 2026 revenue of $140 million to $160 million. The top end will be double FY 2022’s revenue of $78.3 million.

Goldman Sachs appears confident the company will get there. In fact, it is forecasting revenue of $143 million in FY 2025, a year ahead of target. No forecast has been made for beyond that year, but the broker’s estimates appear to imply that it expects Readytech to hit the top end of its guidance range.

Goldman Sachs has a buy rating and $4.30 price target on its shares.

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

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• 2 fantastic ASX 200 shares analysts say are buys
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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 Altium and Readytech Holdings Ltd. The Motley Fool Australia has recommended Readytech Holdings Ltd. 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) rebounded from its recent suffering, driven higher by mining giants on Tuesday. The index closed 1.29% higher at 6,806.40 points today.

Mining stocks led the pack today, with the S&P/ASX 200 Materials Index (ASX: XMJ) leaping 2.7% higher.

Base metals stayed put overnight as the London Metal Exchange closed for a public holiday. Meanwhile, gold futures slipped 0.3% to US$1,678.20 an ounce and iron ore futures fell 0.4% to US$98.63.

The S&P/ASX 200 Energy Index (ASX: XEJ) also gained 2%.

Its gain followed a similar increase in oil prices overnight. The Brent crude oil price lifted 0.7% to US$92 a barrel while the US Nymex crude oil price increased 0.7% to US$85.73 a barrel.

Only two of the ASX 200’s 11 sectors closed lower today. The S&P/ASX 200 Health Care Index (ASX: XHJ) dumped 0.1% while the S&P/ASX 200 Real Estate Index (ASX: XRE) fell 0.5%.

But which share outperformed all others? Let’s take a look.

Top 10 ASX 200 shares countdown

The index’s top-performing share on Tuesday was coal miner New Hope Corporation Limited (ASX: NHC).

The company released its earnings for the 12 months ended 31 July this morning, detailing a near-$1 billion profit and upping its dividend by 700%.

Today’s biggest gains were made by these shares:

ASX-listed company	Share price	Price change
New Hope Corporation Limited (ASX: NHC)	$5.94	8.79%
Brickworks Limited (ASX: BKW)	$21.69	5.75%
Coronado Global Resources Inc (ASX: CRN)	$1.80	5.26%
Mineral Resources Limited (ASX: MIN)	$71.58	5.26%
Lynas Rare Earths Ltd (ASX: LYC)	$8.14	4.9%
Nickel Industries Ltd (ASX: NIC)	$0.895	4.68%
IGO Ltd (ASX: IGO)	$14.93	4.63%
Imugene Ltd (ASX: IMU)	$0.23	4.55%
Champion Iron Ltd (ASX: CIA)	$5.40	4.45%
Webjet Limited (ASX: WEB)	$5.43	4.22%

Our top 10 ASX 200 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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• Lynas share price storms 5% higher: Can it keep rising?
• Mineral Resources share price up 5% as miners lead the market on Tuesday
• Why Brickworks, IDP Education, IGO, and New Hope shares are racing higher
• Here’s why the IGO share price is firing 5% on Tuesday
• Why is the Webjet share price heading 5% skywards on Tuesday?

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Brickworks. The Motley Fool Australia has positions in and has recommended Brickworks. The Motley Fool Australia has recommended Webjet Ltd. 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 Lynas Rare Earths Ltd (ASX: LYC) share price was a strong performer on Tuesday.

The rare earths producer’s shares ended the day 5% higher at $8.14.

Why is the Lynas share price rising?

Investors were bidding the Lynas share price higher today after investors flooded back into the market again following several tough sessions.

This led to the ASX 200 index rising a sizeable 1.2% on Tuesday with the S&P/ASX 200 Resources index doing a lot of the heavy lifting with its gain of 2.6%.

Can its shares keep rising?

One leading broker believes the Lynas share price still has plenty of upside ahead.

According to a recent note out of Goldman Sachs, its analysts only have a neutral rating on its shares but their price target of $9.10 is meaningfully higher than current levels.

In fact, this price target implies potential upside of almost 12% for investors over the next 12 months.

Goldman commented:

NdPr market to remain in deficit beyond 2025 based on our NdPr SD model incorporating our global 2030 wind & EV targets and ex-China mine supply forecasts. Current NdPr spot China is ~US$93/kg

Upsized LYNAS 2025 target (12ktpa NdPr) but at higher capex of ~A$1.4bn, where we continue to see execution and capex risks. US gov refinery deals for construction of a light rare earth (LRE) plant (~50% of total ~US$60mn cost) and commercial Heavy Rare Earths (HRE) separation facility (100% of total US$120mn cost) are incremental, where we expect the direct sale of ~0.5ktpa of high value HRE (mostly Dy & Tb) to US customers likely improves realised HRE pricing.

We see the stock as fairly valued at A$8.25/sh on a DCF basis (~1.1x NAV) based on our long run US$80/kg (real $, from 2026) NdPr price forecast.

As covered here, Goldman prefers Iluka Resources Limited (ASX: ILU) for rare earths exposure.

The post Lynas share price storms 5% higher: Can it keep rising? appeared first on The Motley Fool Australia.

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• Lynas share price tumbles again, down 10% this week
• The Lynas share price is sinking 5% amid market mayhem
• Why is the Lynas share price so volatile on Tuesday?
• Down 20% in 2022, is the Lynas share price too cheap to ignore?
• Why is the Lynas share price surging higher on Tuesday?

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

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The Mineral Resources Limited (ASX: MIN) share price finished up 5.26% at $71.58 on Tuesday.

The ASX 200 miner didn’t release any news today, however, its home sector led the market.

The S&P/ASX 200 Materials Index (ASX: XMJ) closed up 2.67%. It was followed by S&P/ASX 200 Energy (ASX: XEJ) shares at 1.99%.

What’s pushing the Mineral Resources share price higher?

Mineral Resources has been in the news of late amid speculation it could demerge its lithium operations and list them on the New York Stock Exchange.

Top brokerage firm UBS says a lithium spin-off could be worth $17 billion. That’s actually more than the total market capitalisation for Minerals Resources as a whole today ($12.9 billion).

As my Foolish colleague James reported last week, UBS compared the NYSE-listed lithium business, Albemarle Corporation (NYSE: ALB), which trades at 10 times FY24 EBITDA, to the lithium business of Mineral Resources, which trades at just over three times FY24 EBITDA.

UBS doesn’t necessarily think that the lithium business of Mineral Resources would command as great a premium as Albemarle. But it does consider six times EBITDA possible, which would give the lithium spin-off a valuation of $17 billion.

UBS has a buy rating on Mineral Resources with a share price target of $83. This represents a potential upside of 16% over the next 12 months.

Additionally, as my Fool friend Zach reports, there’s been lithium mania in the market in recent years.

Surging demand for electric vehicles (EVs) around the world has led to a surge in the lithium price, as well as “a huge upswing in exploration, production, and delivery of the battery metal in its various forms”.

The post Mineral Resources share price up 5% as miners lead the market on Tuesday appeared first on The Motley Fool Australia.

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More reading

• Here are the top 10 ASX 200 shares today
• ASX lithium mania: Is the ‘incredible amount of interest’ sustainable?
• Top brokers name 3 ASX shares to buy next week
• Top broker values Mineral Resources rumoured lithium spin-off at $17 billion
• Brokers name 3 ASX shares to buy 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.

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Three ASX resources shares are rising far higher than the ASX 200 Resources Index (ASX: XJR) today.

The share prices of FELIX Gold Ltd (ASX: FXG), Venture Minerals Ltd (ASX: VMS), and Cobre Ltd (ASX: CBE) are all soaring. For perspective, the ASX 200 Resources Index is 2.65% at the time of writing.

Let’s take a look at why these ASX resources shares are shooting ahead today.

Felix Gold

The Felix Gold share price is surging 18% today. ASX 200 gold share Evolution Mining Ltd (ASX: EVN) is also up 2.44% in late afternoon trading, while Newcrest Mining Ltd (ASX: NCM) is 1.54% higher. Felix Gold is exploring the Fairbanks Gold Mining District of Alaska, US. Recently, Felix advised RC drilling is complete across 131 holes at the Treasure Creek Project. With assay results returned for just nine of the 131 RC holes so far, the company said there is a “strong news flow pipeline”. Managing director and CEO Joe Webb said:

We now have a big pipeline of RC drill assays to flow over coming months and are excited to have commenced diamond drilling at Treasure Creek to test potential depth extent and target zones at depth, including the key Eastgate IP target.

Venture Minerals

The Venture Minerals share price is up 7.69% at 2.8 cents a share after hitting an intraday high of 3.1 cents today, a 19% jump. Venture has discovered Rare Earth Element (REE) mineralisation at the Mount Lindsay project. The REE mineralisation is adjacent to existing tin zones within the project. More infill surface sampling work will be conducted to define the REE anomalism and identify targets for further drill testing. Commenting on today’s news, Venture’s managing director Andrew Radonjic said:

The fact the Rare Earths are in shallow clays immediately adjacent to high grade Tin Zone bodes well for the economic potential of the Reward Deposit.

Cobre

The Cobre share price is 16.33% higher at the time of writing to 28.5 cents a share. Earlier in the session, Cobre shares surged 30% higher to 32 cents each. Cobre is a copper explorer with projects in Botswana and Western Australia. Cobre shares took off today despite no news from the company. The copper price is trading 0.38% today, Trading Economics data shows. Cobre recently advised drilling at NCP12 had intersected with “significant copper mineralisation” at the Ngami Copper Project in Botswana. Further drilling is ongoing. Assay results from drill holes NCP07, NCP08, and NCP09 are expected near the end of September.

The post 3 ASX resources shares rocketing on Tuesday appeared first on The Motley Fool Australia.

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More reading

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• 3 ASX mining shares that went gangbusters on Monday

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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The AMP Ltd (ASX: AMP) share price has been continuing to slip throughout the day.

This comes as the Federal Court handed down its verdict regarding AMP’s plan service fee charges to its customers.

At market open, the financial services company’s shares kicked off at $1.21 apiece.

However, news broke out about the court outcome and investors have been selling down AMP shares since.

Currently, the share is down 2.07% to $1.185.

In contrast, the S&P/ASX 200 Index (ASX: XJO) is up 1.19% following modest gains on Wall Street overnight.

What happened?

According to AMP’s release, the Federal Court of Australia handed down a $14.5 million fine to the company after it wrongly charged more than 1,500 customers.

AMP wrongly charged more than 1,500 customers in advice service fees despite knowing that these customers had no access to the paid service.

The Federal Court alleges that AMP took over $600,000 in advice service fees from customer superannuation accounts.

The hefty fee is closer to what ASIC sought which was $17.5 million compared to AMP’s suggested $4.6 million penalty.

AMP said that the fine has already been provisioned in its 30 June 2022 half-year financial statements.

About the AMP share price

Despite heading south today, the AMP share price has travelled 25% higher over the past 12 months.

On the other hand, the S&P/ASX 200 Financials (ASX: XFJ) sector is down 5% since this time last year.

AMP has a price-to-earnings (P/E) ratio of 29.33 and commands a market capitalisation of roughly $3.95 billion.

The post AMP share price slips ahead of court findings appeared first on The Motley Fool Australia.

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More reading

• Are AMP shares worth keeping?
• Here are the 3 most heavily traded ASX 200 shares on Monday
• When it comes to AMP shares, is it time for investors to give up the ghost?
• Savings or dividends? What these 3 ASX bank shares are offering for income
• Here are the top 10 ASX 200 shares today

Motley Fool contributor Aaron Teboneras 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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