The Arafura Resources Limited (ASX: ARU) share price is slipping behind its peers in the S&P/ASX All Ordinaries Index (ASX: XAO) on Tuesday.

Shares of the rare earth producer are flat today, while the All Ords is up 1.2%.

This comes amid the release of the company’s annual report for FY22 last night.

Let’s cover the highlights.

What did the report say?

• Net loss rose by 448.7% year over year to $35.55 million. Most of this cost came from a project cost line item of $28.17 million
• While its losses expanded, its cash balance grew from $10.78 million to $24.68 million
• Total equity also grew from $122.02 million to $132.36 million.

Much of this can be explained by the fact that net proceeds from the issue of shares grew from $116,500 to $47,190,939 during the reporting period.

What else did the company announce?

Arafura reported that the front-end engineering and design for its Nolans project is progressing. The company expects completion by the end of 2022.

Following this, ore commissioning of neodymium (NdPr) is expected in May 2025, with production scaling up over about a year to reach 4,440 tonnes per annum.

Arafura conducted a capital raise of $41.5 million to fund its Nolans project and ongoing operations.

In March, the company also received $30 million in funding from the Federal Government’s Modern Manufacturing Initiative.

What did management say?

Arafura Resources chairman Mark Southey provided the following commentary:

During the 2022 financial year, Arafura successfully navigated a rapidly evolving commercial environment ranging from economic volatility caused by geopolitical events along with the ongoing impacts of the COVID pandemic. Geopolitical and market turbulence was combined with an ever-increasing global focus by Governments, OEM customers and investors on energy transition, sustainability and ESG requirements.

What’s next?

Arafura also gave a detailed explanation of the neodymium market as well as its strategic positioning within this space moving forward, stating:

NdPr pricing strengthened significantly during the financial year, growing 90% by the end of the year. This substantial increase is assisting our long-term decision-making around project economics and off-take agreements; and comes on the back of global supply chain security risk, increasing international and domestic environmental legislation constraints, tight supply conditions, and steadily growing demand for permanent magnets. By the end of the year, NdPr pricing had risen to US$139/kg, providing real confidence in sustained higher prices and therefore strong project economics. Arafura remains well-placed to supply around 5% of world’s NdPr oxide demand.

Arafura share price snapshot

The company’s shares currently trade for 40 cents each.

Arafura shares are up significantly in the past month and year-to-date. The gains are 41% and 72%, respectively. Meanwhile, the All Ords is down 3.5% and 11.3% over the same periods.

The company’s market capitalisation is around $681.2 million.

The post Arafura share price lags All Ords on Tuesday amid $35 million loss appeared first on The Motley Fool Australia.

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More reading

• Why is the Arafura share price rocketing 8% today?
• 3 ASX All Ordinaries shares having a cracking Monday
• The Arafura Resources share price is down 7% this morning
• Why investors might be getting excited about Arafura shares
• Arafura defies sell-off in ASX mining shares to stay buoyant. Is this why?

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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It has been a disappointing year for the CogState Limited (ASX: CGS) share price.

Since the start of 2022, the neuroscience technology company’s shares have tumbled 43% to $1.45.

Is the CogState share price in the buy zone?

One leading broker that believes the CogState share price is great value after this decline is Bell Potter.

According to a note, the broker has retained its buy rating with a slightly trimmed price target of $1.95.

Based on the current CogState share price, this implies potential upside of 34% for investors over the next 12 months.

What did the broker say?

Bell Potter highlights that CogState appears well-placed to benefit from a significant increase in therapies aiming to treat Alzheimer’s disease. This increased activity bodes well for demand for the company’s brain health assessments. It explained:

With currently no disease modifying therapies (DMT) available, there has been an increasing interest in identifying potential treatments. The number of unique agents under investigation has increased from 93 in 2016 to 143 in 2022. The amyloid hypothesis has been a critical target for these therapies with important Phase 3 trials underway and results on the horizon.

In addition, the broker highlights that CogState has a material revenue backlog and notes that demand is increasing for other indications.

Cogstate currently has US$139.1m in contracted revenue backlog: US$100.2m in clinical trials and US$38.9m in healthcare (EISAI agreement). 84% of new clinical trial contracts in FY22 were in AD which reflects the strong relationship with CGS. Whilst there has been increasing utilisation of CGS technology in other indications such as Parkinson’s Disease, Rare Paediatric Disorders and Depression, these studies are usually of lower contract sizes (safety endpoints, smaller cohort sizes).

All in all, the broker believes this will underpin solid sales and earnings growth through to at least FY 2025. In fact, by then, the broker expects CogState’s revenue to be $79.8 million and its EBIT to be $18.4 million. This will be a 77.3% and 72% increase, respectively, over FY 2022’s numbers.

The post Top broker says this ASX tech share has over 30% upside appeared first on The Motley Fool Australia.

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• 3 ASX All Ordinaries shares being sold off following FY22 results

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 CogState Limited. The Motley Fool Australia has positions in and has recommended CogState Limited. 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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This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

Tesla (NASDAQ: TSLA) piqued many people’s interest recently when the company filed a form with Texas’ Comptroller’s Office indicating the electric vehicle maker’s interest in building a battery-grade lithium hydroxide refinery.

So far history has shown that it’s best not to bet against Tesla’s big ideas, so what could the company gain from owning its own battery materials refinery along the Gulf Coast? Only the potential to lower the price of its expensive batteries.

What Tesla is proposing 

Tesla said in the official form that it’s considering building a plant that could convert “raw ore material into a usable state for battery production.”

The refinery would create battery-grade lithium hydroxide that could then be “packaged and shipped by truck and rail to various Tesla battery manufacturing sites supporting the necessary supply chain for large-scale and electric vehicle batteries.”

In short, Tesla is proposing entering the battery materials refinery space, a move that would add to the company’s current battery manufacturing capabilities. 

The company said that it could start building the plant as early as the end of this year, with an estimated timeframe for having it operational by the fourth quarter of 2024.

It’s worth mentioning that none of what Tesla is proposing is a done deal. The company’s official filing for property tax relief for the project is one of the very first steps in the project. Tesla is also exploring an alternative site in Louisiana. 

But with battery costs ballooning over the past couple of years and supply chain shortages constantly causing headaches for the auto industry, Tesla’s latest idea could be yet another step toward improving its vehicle production costs. 

How it could help Tesla stay ahead of EV rivals 

Supply chain problems and increasing demand for electric vehicles have pushed up the cost of battery materials, particularly lithium. Battery-grade lithium prices have spiked more than 400% since 2021. 

And demand isn’t slowing down. The latest data from McKinsey estimates that global demand for lithium will increase from 500,000 metric tonnes in 2021 to up to 4 million metric tonnes by 2030. 

While Tesla can’t control this massive increase in lithium demand, it is trying to control some of the production costs that go into making batteries.

How much Tesla could save still isn’t clear, but Tesla is willing to at least entertain the idea of spending a proposed $365 million to build a refinery in order to save on costs down the road. 

A bold move to own more of the supply chain 

There’s nothing set in stone about Tesla’s new refinery proposal, but it could be the beginning of Tesla moving even further up the supply chain line in battery-making. 

With lithium demand expected to soar over the next decade, Tesla could secure more control over its battery manufacturing with its own refinery. And in the coming years, that could potentially give the company an advantage in the EV space. 

If Tesla can eventually lower some of its battery costs, then it could improve its already-strong profit margins (currently at 13%). That means that while most traditional automakers are still trying to figure out how to catch up to Tesla’s enviable margins, Tesla is trying to figure out how to keep expanding them. 

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

The post This bold move could give Tesla an edge in battery production appeared first on The Motley Fool Australia.

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Chris Neiger 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 Tesla. 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.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

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As most of us would be aware, it hasn’t been a great year thus far for ASX shares. As it stands today, the S&P/ASX 200 Index (ASX: XJO) remains down by a nasty 8.62% year to date. But for the BetaShares Asia Technology Tigers ETF (ASX: ASIA), that loss is looking desirable.

This exchange-traded fund (ETF) has taken a battering this year. On today’s pricing, units of the BetaSahres Asia Technology Tigers ETF are down a painful 28.46% over 2022 thus far.

The Asia Tigers ETF is a tech-focused fund that holds around 50 companies. These hail from across Asia (excluding Japan), but the lion’s share (55.5%) are domiciled in China. Other countries like Taiwan, South Korea, India and Hong Kong make up the rest.

This ETF focuses on technology companies. Its top holdings include names like Alibaba, Taiwan Semiconductor Manufacturing Co, Tencent Holdings and Samsung.

With China taking such a large chunk of this ETF, it’s clear that many of the woes that the fund has faced in 2022 hail from this market. To illustrate, the Alibaba share price is down almost 35% year to date, while Tencent shares have lost almost 35%.

So what’s next for the Asia Tigers ETF?

For some insights into that question let’s turn to an expert. Anthony Strom of Fidelity International is an expert on Asian markets. He recently sat down for an interview with Livewire.

So Strom blames the woes that many Asian markets are currently facing on a couple of factors:

What stage are we at now with the Asian Century? Immediate words that come to mind are things like growing pains.What we’re seeing is a lot of growth being developed in that region through debt accumulation, which as we saw with the Asian crisis, is not a sustainable path forward. We’re seeing things like the corruption crackdown in China. You can take that as another positive, but again, it has the effect of slowing down development as markets must adjust.

That’s a higher-level summary of the current stage of the Asian century. I think it’s a stage of transition and slight growing pains.

Strom also notes that “the zero COVID policy has really slammed the breaks on growth within China”.

So the companies that the Asia Tigers ETF holds are certainly facing some challenges. But Strom is still confident that investing in Asian markets still “holds a lot of promise”. He names Malaysia, India and Indonesia as growth markets to watch.

How these will affect the BetaShares Asia Technology Tigers ETF is unclear. But investors might gain some confidence knowing that this Asian investing expert is still predicting a bright future.

The post Down 30% in 2022, what’s next for the BetaShares Asia Technology Tigers ETF? appeared first on The Motley Fool Australia.

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Motley Fool contributor Sebastian Bowen has positions in Taiwan Semiconductor Manufacturing. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Taiwan Semiconductor Manufacturing and Tencent Holdings. The Motley Fool Australia has recommended BetaShares Asia Technology Tigers ETF. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The S&P/ASX 200 Index (ASX: XJO) is up 1.23% during afternoon trading on Tuesday.

The benchmark index dipped 0.2% at 11:30 AEST following the release of the Reserve Bank of Australia’s minutes from its September monetary policy meeting.

But it looks like any angst the central bank may have caused ASX 200 shares investors regarding further rate rises has been offset by yesterday’s strong performance in the United States markets.

Here are some of the key details from the RBA’s minutes.

The inflation headache

The RBA board noted that timely indicators pointed to inflation remaining high and broadly based in the September quarter.

To date, the Australian Bureau of Statistics (ABS) has only provided inflation data on a quarterly basis, so the official data available today stems from the June quarter.

The ABS will start publishing a monthly CPI indicator in October. However, the RBA noted, “it could take some time for reliable trends to be discernible”.

Adding to inflation pressures, the bank said, “Some retailers expected to apply further large increases in their prices in coming quarters, in part reflecting the pass-through of earlier rises in input costs.”

While petrol prices fell in August, the RBA cautioned, “The expiration of the fuel excise cut would boost headline inflation in the December quarter.”

Longer term, the bank’s inflation expectations generally remain within its 2% to 3% target range.

Household spending supports ASX 200 retail shares

Helping support ASX 200 shares in the retail sector, the RBA noted that household spending in the September quarter to date remains solid, with retail sales increasing strongly in July.

Households have received some relief from rising rates and inflation through strong labour market conditions and income growth.

On the housing front the board noted:

Declines in housing prices had broadened out to most capital cities and regional areas, alongside weaker housing sales activity, rising interest rates and the expectation of further interest rate increases.

The bank expects mortgage interest payments to increase to around 4.5% of household disposable income over the coming months, and to almost 5% by the end of 2022.

Renters are still feeling the pinch as well, with vacancy rates falling across the capital cities.

The outlook for business investment

ASX 200 investors can take some heart from the RBA’s positive outlook for business investment.

As reported in the minutes:

The June quarter ABS Capital Expenditure Survey, conducted in July and August, indicated that non-mining firms expected to increase investment in the 2022/23 financial year, driven by investment in machinery and equipment. Capacity utilisation remained high across industries, with non-mining capacity utilisation at its highest level in over three decades.

Now what for ASX 200 shares?

Higher rates have put a brake on the strong run ASX 200 shares enjoyed in the rebound from the pandemic sell-off. The high water mark for those rates will, inevitably, be determined by how sticky inflation gets.

The RBA’s central forecast is for CPI inflation to be around 7.75% over 2022, “a little above” 4% over 2023, and around 3% over 2024.

As you’re likely aware, the RBA opted to raise the official cash rate by 0.5% on 6 September, bringing the rate to 2.35%.

The board will announce its next rate decision on 4 October. While the September minutes don’t reveal what size hike ASX 200 investors can expect, the members did say they expect to increase interest rates further over the months ahead.

The minutes note that further rate hikes are “not on a pre-set path given the uncertainties surrounding the outlook for inflation and growth”.

Highlighting that uncertainty, the RBA said, “The board is seeking to return inflation to target while keeping the economy on an even keel. The path to achieving this balance remains a narrow one and clouded in uncertainty.”

The post Investing in ASX 200 shares? Here’s the latest interest rate outlook from the RBA appeared first on The Motley Fool Australia.

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

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The Incannex Healthcare Ltd (ASX: IHL) share price has been on a roll lately.

It has rocketed 21.4% over the last fortnight despite no price-sensitive news having been released by the clinical stage developer of medicinal cannabinoid pharmaceuticals.

At the time of writing, the Incannex share price is trading at 34 cents, 1.49% higher than its previous close.

For context, the broader market is also in the green. The All Ordinaries Index (ASX: XAO) has lifted 1.1% right now.

So, what might be driving the ASX healthcare share higher lately? Let’s take a look.

What’s been going right for Incannex lately?

The Incannex share price has rallied in recent weeks as the company prepared to be included in the S&P/ASX 300 Index (ASX: XKO).

The healthcare stock was added to the index as part of its September rebalance alongside 15 other shares. Monday marked its first day on the ASX 300.

Its addition likely bolstered demand for its stock as funds tracking the ASX 300 were forced to buy in.

Its intended inclusion was announced on 2 September. The company’s CEO Joel Latham responded to the news on 6 September, saying:

We’re delighted to be recognised for inclusion in the ASX 300 index to be listed among the largest and most-recognisable companies in Australia.

Being listed in the index is a precursory investment condition for many domestic and international investment institutions so we are excited for the possibilities this recognition may bring.

Thus, its new home on the ASX 300 might explain some of the Incannex share price’s recent gains.

Incannex is also likely in the front of investors’ minds after the company released its annual report this morning.

The report details the company’s financial year 2022, a year that Incannex chair Troy Valentine said brought “significant advancements in clinical development across [its] entire portfolio”. Valentine continued:

Our strong financial position and having strong investor visibility in Australia and the United States gives us the necessary comfort to conduct our research programs unimpeded and at pace as we focus on delivering our novel pharmaceutical products and therapies to patients in need.

Incannex currently boasts 28 projects for which proof of concept has been established.

Incannex share price snapshot

While the last fortnight has been good for the Incannex share price, its longer-term performance has been less positive.

The stock has slumped 48% since the start of 2022. Though, it’s still 5% higher than it was this time last year.

For comparison, the ASX 300 has fallen 11% year to date and 6% over the last 12 months.

The post Why has the Incannex share price rallied 20% in 2 weeks? appeared first on The Motley Fool Australia.

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• Have Incannex Healthcare shares been a good investment in 2022?
• Why the Incannex share price leapt 13% on Monday?

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 Appen Ltd (ASX: APX) share price is in the green today.

Appen shares are currently trading at $3.465, a 1.61% gain, after jumping 6.7% to an intraday high of $3.64 early in the session.

Let’s take a look at what may be impacting the Appen share price today.

Technology shares rise

Shares in the machine learning and artificial intelligence company are rising today, but they are not alone among ASX technology shares. The Altium Limited (ASX: ALU) share price is 1.13% higher at the time of writing, while Wisetech Global Ltd (ASX: WTC) is 1.01% ahead. The Megaport Ltd (ASX: MP1) share price is up 1.86%.

Meantime, the S&P/ASX All Technology Index (ASX: XTX) is 0.48% higher in early afternoon trade.

Technology shares, including Appen, are rising after the NASDAQ in the US also lifted overnight. The tech-heavy Nasdaq index gained 0.76%, or 87 points. Apple Inc (NASDAQ: AAPL) rose 2.51% while Meta Platforms Inc (NASDAQ: META) leapt 1.18%.

Now, Citi brokers see tailwinds for Australian technology stocks in FY23, according to a Thomson Reuters report cited on NAB trade.

The broker highlighted the August reporting season was “better than expected” with just Appen and Zip predicting revenue downgrades.

Citi reportedly expects costs of sales to “reduce cost growth in an uncertain environment”, potentially leading to profitability margins being better than expected.

Appen reported revenue of $182.9 million in the first half of calendar year 2022, down 7% on the prior corresponding period.

Share price snapshot

Appen shares have dropped 63% in the past year, while they have lost 69% year to date.

For perspective, the S&P/ASX All Technology Index (ASX: XTX) has shed 32% in the past 12 months and around 29% in 2022 so far.

Appen has a market capitalisation of $427 million based on the current share price.

The post Why is the Appen share price climbing today? appeared first on The Motley Fool Australia.

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Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool’s board of directors. 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 positions in and has recommended Altium, Appen Ltd, Apple, MEGAPORT FPO, Meta Platforms, Inc., and WiseTech Global. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended the following options: long March 2023 $120 calls on Apple and short March 2023 $130 calls on Apple. The Motley Fool Australia has positions in and has recommended WiseTech Global. The Motley Fool Australia has recommended Apple, MEGAPORT FPO, and Meta Platforms, Inc. 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 IGO Ltd (ASX: IGO) share price is ratcheting higher today and currently trades 5.36% in the green at $15.035 apiece.

Investors are rallying the share today following an update from the diversified mining giant’s partner at the Mt Alexander Project, located in Western Australia.

Let’s check the latest.

What’s behind the IGO share price?

IGO has a stake in various tenements at the Mt Alexander site along with St George Mining Ltd (ASX: SGQ).

Today, St George announced updated results amid a lithium exploration program being conducted at the site.

The current program is concentrating on two tenements where “extensive pegmatite outcrops continue to be mapped”.

For IGO, the relevant claim is E29/638, 75% owned by St George with IGO holding the remaining 25%.

The announcement notes there are an increasing number of pegmatite outcrops, identified through field mapping studies at Mt Alexander.

All samples have been submitted for lab testing, following visual observation of potential spodumene and lepidolite minerals in the collected rock.

Speaking on the announcement, St George executive chair John Prineas said both parties are “delighted” with progress:

We are seeing thick pegmatite dykes spread over a zone more than 15km long in the same corridor parallel to the Copperfield Granite where major discoveries have been announced by Red Dirt Metals. We are increasingly excited by the potential that Mt Alexander may form part of the same pegmatite hosted lithium mineral system.

Meanwhile, the $11 billion company by market cap, IGO has retraced all of the gains it had given away in 2022 and is now trading back at its 52-week highs.

Helping push the IGO share price back to this level has been the price of lithium. The commodity has also recently pushed back to all-time highs.

This has certainly helped ASX lithium shares rally hard in the new financial year with companies such as IGO continuing to trade higher.

The company is trading at a price-to-earnings (P/E) ratio of 32.15 times with a trailing dividend yield of 0.71%.

As such, it trades at a premium to its peers in the diversified mining index, according to data from Refinitiv Eikon

With this most recent rally, IGO shares have now spiked to a 67% gain over the past 12 months.

The post Here’s why the IGO share price is firing 5% on Tuesday appeared first on The Motley Fool Australia.

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• Hoping to dig into the next IGO dividend? Here’s what to do

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 Whitehaven Coal Ltd (ASX: WHC) share price is having yet another strong day.

In afternoon trade, the coal miner’s shares are up 3% to $8.56.

This means the Whitehaven Coal share price is now up over 200% since the start of the year.

Why is the Whitehaven Coal share price rising today?

The catalyst for the rise in the Whitehaven Coal share price on Tuesday has been the release of the full year results of one of its rivals.

This morning New Hope Corporation Limited (ASX: NHC) released its full year results and revealed a 143% increase in revenue to $2.55 billion and a whopping 1,139% jump in net profit after tax to $983 million.

This allowed the coal miner to declare a fully franked 31 cents per share final dividend and a 25 cents per share special dividend. Combined, this was a massive 700% year over year increase from FY 2021’s 7 cents per share final dividend.

The key driver of this impressive result was of course sky high coal prices. And with New Hope’s management team suggesting that high prices are here to stay for the foreseeable future, this bodes well for New Hope and Whitehaven Coal.

New Hope commented:

Robust market demand for high energy and lower emission thermal coal, strengthened by the Russia-Ukraine conflict which has further tightened supply. With global energy demand to remain flat to 2030, stronger longer-term pricing is expected to remain considering constrained supply.

It’s no wonder then that the team at Morgans is forecasting a $1.00 per share dividend from Whitehaven Coal in FY 2023.

This equates to a very generous 11.7% dividend yield even after the Whitehaven Coal share price heroics of 2022.

The post Why is the Whitehaven Coal share price having such a top run on Tuesday? appeared first on The Motley Fool Australia.

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More reading

• Analysts name 2 ASX dividend shares to buy this month
• 3 ASX energy stocks up more than 100% so far this year
• 5 ASX energy shares powering portfolios with the highest dividend yields
• Own Whitehaven shares? Here’s some good news on your dividends
• Here are the top 10 ASX 200 shares today

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has 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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Pilbara Minerals Ltd (ASX: PLS) investors are rejoicing once more on Tuesday, with the share price surpassing its record high for the ninth time this month.

Shares in the S&P/ASX 200 Index (ASX: XJO) lithium favourite launched 4.6% to $4.97 shortly after the market opened this morning.

It has since retreated to trade at $4.84, 1.8% higher than its previous close.

Meanwhile, the ASX 200 is trading in the green. The index has lifted 1.2% following recent suffering that saw it tumble 4.1% over the four sessions prior.

So, what’s been going so right for the Pilbara Minerals share price in September?

Let’s take a look.

Pilbara Minerals share price leaps to another record high

Pilbara Minerals has been riding a wave of market enthusiasm for lithium this month.

Its gains come amid warnings from experts claiming the supply of the ‘white gold’ battery-making material will likely get to a crunch point over the coming years.

Analysts at JP Morgan echoed such expectations earlier this month, upping their lithium price targets by as much as 25%, as my Fool colleague Tristan reports.

The experts also slapped Pilbara Minerals shares with a buy rating and a $4.10 price target.

At the same time, the stock finally surpassed the record $3.89 it reached in January, surging to $3.97 on 6 September.

Likely to investors’ surprise, Pilbara Minerals surpassed that record high in every session over the following week.

After backing off for a hot second, it’s back up to its old tricks today.

Of course, it’s not just Pilbara Minerals that’s been on a roll lately. Other ASX lithium shares have also performed well.

Pilbara announced its maiden profit last month.

Its revenue lifted to $1.2 billion in financial year 2022, sending its after-tax profit into the green for the first time, coming in at $561.8 million.

The Pilbara Minerals share price is currently 52% higher than it was this time last month. It has also gained 37% year-to-date and 134% over the past 12 months.

The post Pilbara Minerals share price racks up ninth all-time high for September appeared first on The Motley Fool Australia.

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More reading

• 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
• Here are the 3 most heavily traded ASX 200 shares on Monday
• 3 ASX lithium shares smashing new, all-time highs on Monday

JPMorgan Chase is an advertising partner of The Ascent, a Motley Fool company. 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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