The Anson Resources Ltd (ASX: ASN) share price has come out of a trading halt into a nosedive today.

During early morning trade, the lithium explorer’s shares fell to an intraday low of 38.5 cents before recovering some of their losses.

Currently, the share is down 6.47%, trading at 39.8 cents apiece.

What’s driving Anson Resources shares lower?

The Anson Resources share price is tanking after the company announced it had successfully completed a capital raise.

The impending share dilution that will follow may be behind today’s sell-off, along with broader weakness on the ASX.

In today’s release, Anson Resources advised it has received binding commitments to raise $50 million from global institutional investors.

Interest in the share placement had exceeded the company’s requirements, with management deciding to upsize the offer to $50 million.

The placement will see the company issue approximately 139 million shares at a price of 36 cents per share.

This represents a 15.3% discount on the last closing price of 42.5 cents per share on 14 September, before the company entered a trading halt.

The company will use proceeds from the placement to expand its project development workstreams at the Paradox Lithium Project in Utah, USA. This includes front-end engineering design work, permitting and ordering of long lead procurement items.

The company will also work towards a final investment decision (FID) on the project.

The new shares are expected to be issued on or around 27 September.

What did management say?

Anson Resources executive chair Bruce Richardson welcomed the news, saying:

The result of the capital raise is an outstanding endorsement of the Paradox Lithium Project and for ‘made in USA’ battery grade lithium carbonate.

We were delighted to price the Placement at a tight discount to the prevailing VWAPs, despite immediately following a significant market downward correction.

Anson Resources share price snapshot

Despite today’s losses, the Anson Resources share price is up 297% over the last 12 months.

Year-to-date the company’s shares are trading 194% higher.

Anson Resources commands a market capitalisation of $409.6 million with approximately 1.03 billion shares on issue.

The post Anson Resources share price dives 8% after $50m capital raise appeared first on The Motley Fool Australia.

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

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

More reading

• Why is ASX lithium share Anson Resources on ice today?
• How are ASX lithium shares faring amid Wednesday’s carnage?
• Anson Resources share price surges to ASX all-time high on lithium news
• Vulcan Energy share price is one of the worst ASX lithium performers so far this year. Why?
• 4 ASX lithium shares that have rocketed more than 100% in 2022

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.

from The Motley Fool Australia https://ift.tt/1HzVeuU

Over the last few years, the Fortescue Metals Group Limited (ASX: FMG) dividend has been among the most generous on the Australian share market.

This has been underpinned by the significant free cash flow the mining giant has been generating thanks to strong iron ore prices.

But after a couple of decades of polluting the earth, Fortescue is now focusing on green energy as well as iron ore.

Given the high level of investment required for these new activities, investors may be wondering what this means for the Fortescue dividend in FY 2023. Let’s take a look at what one leading broker is expecting from the miner.

How big will the Fortescue dividend be in 2023?

According to a note out of Goldman Sachs, its analysts are expecting an almighty cut to the Fortescue dividend in the next 12 months.

The broker expects Fortescue to go from paying a US$1.50 per share dividend in FY 2022 to an 80 US cents per share dividend in FY 2023. That’s a cut of 47% year over year.

Based on current exchange rates and the latest Fortescue share price of $17.78, this would mean a fully franked yield of 6.6% for investors in 2023. Not quite the bumper yields that investors have been accustomed to in recent years.

All in all, the broker appears to believe the Fortescue dividend has now peaked and is on a downward trajectory from here. It commented:

We continue to think FMG is at an inflection point on capital allocation, and to fund the ambitious new strategy, we assume the dividend payout ratio falls from the current ~75% in FY22 and then to ~50% from FY24 onwards.

The post How big will the Fortescue dividend be in 2023? appeared first on The Motley Fool Australia.

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

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

More reading

• Reinvesting your Fortescue dividends? Here’s what you need to know
• ASX 200 mining shares stage significant rebound in afternoon trading
• Rio Tinto share price slides despite new $3bn iron ore project
• Why is the Fortescue share price getting hammered on Wednesday?
• Expert predicts stock market will crash 20% lower in the next four weeks as US inflation rages out of control

from The Motley Fool Australia https://ift.tt/TZhn9BN

The Northern Star Resources Ltd (ASX: NST) share price is trading down on Friday.

At the time of writing, shares in the gold miner are pushing nearly 5% lower at $7.33 apiece on no market-sensitive news.

Meanwhile, the S&P/ASX 300 Metals and Mining Index (ASX: XMM) is down around 2% on the day.

What’s up with Northern Star shares today?

Whilst it’s been quiet from the company’s camp today, it’s been anything but over in the gold markets.

The gold price dropped to its lowest mark since the onset of the pandemic in April 2020 following a period of heavy downside.

Adding to the pressure this week was higher-than-expected US inflation data that’s kept US Treasury yields buoyant, and the US dollar equally as tight.

The traditional ‘inflation hedge‘, gold has failed to live up to its namesake in light of the latest data. However, there’s a bit more to it than that.

Investors are looking at market expectations along with current performance, and, with higher inflation, comes the prospects of further interest rate hikes, and surging treasury yields.

Alas, both trends in these asset classes are a negative for gold; however, the most recent down-moves were rates-induced, analysts at RJO Futures say.

“Today the biggest factor are yields, [they] seemed pretty strong after taking a little bit of a reprieve,” RJO added.

“This [gold] sell-off into September, October has really been just on rate adjustments…and now they [yields] are right back up again and pushing gold lower,” it finalised.

Given Northen Star’s position as a price taker on the yellow metal, its share price can and does fluctuate in unison with the gold price.

It, therefore, stands to reason that the latest down-leg for Northern Star on the chart has somewhat to do with the recent downside in gold.

Meanwhile, the Northern Star share price is down nearly 23% over the past 12 months to date.

The post Why is the Northern Star share price trading 4% down today? appeared first on The Motley Fool Australia.

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

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

More reading

• Northern Star share price slides 3%: Is it time to load up?
• 5 things to watch on the ASX 200 on Wednesday
• The Northern Star share price has dumped 8% in a month. So what’s the dividend yield right now?
• 5 things to watch on the ASX 200 on Monday
• Do ASX 200 gold shares pay regular dividends?

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.

from The Motley Fool Australia https://ift.tt/W8bO24c

Some investors park their portfolios in the consumer staples, utilities, and healthcare sectors amid an actual or perceived bear market.

The thinking behind that is that companies in these sectors are expected to continue solid operations even as the rest of the economy struggles. This is because they sell products that people cannot live without.

So it would be logical to assume that these defensive sectors would outperform others in today’s volatile climate. But you’d reach the wrong conclusion.

In fact, the S&P/ASX 200 Utilities Index (ASX: XUJ) has been one of the worst-performing sectors over the past month, posting a 9.77% loss.

Confusing matters further, the S&P/ASX 200 Consumer Staples Index (ASX: XSJ) is also performing poorly, down 8.38% over the same period.

So, have blue-chip defensive shares begun to lose their shimmer? Let’s investigate by covering the highlights of these companies.

Woolworths Group Ltd (ASX: WOW)

Shares in Woolworths are down 10.23% for the past month. My Fool colleague Cathryn noted that the iconic Australian supermarket chain was challenged by supply chain and operations disruptions in FY22, which came amid a drop in its reported earnings before interest and tax (EBIT) for that financial year.

However, according to analysts at Goldman Sachs, Woollies could be in the process of turning the ship around. The investment bank just gave Woollies a buy rating and upgraded its price target to $44.10.

The analysts said in a broker note yesterday:

Despite the softer topline environment, we believe that WOW’s reducing COVID costs, strong Cartology growth as well as careful execution will result in EBIT margin expansion.

Coles Group Ltd (ASX: COL)

Coles shares have performed worse than Woollies over the past month, tracking 13.68% lower at the time of writing. The supermarket has received mixed coverage from analysts during this time, gaining both an upgrade and a downgrade for its share price.

On 6 September, a Citi broker said Coles would benefit from food inflation as prices rose. The bank has a $20.10 price target for the supermarket’s shares, expected to reach this level within the next 12 months.

The broker said:

Food inflation will benefit supermarkets significantly while operating costs should remain less than top-line inflation, benefiting margins.

Challenging news came on 14 September in the form of a broker note from Goldman Sachs, downgrading its rating on Coles shares to a sell and reducing its price target to $15.60.

Goldman explained its position with the following:

Downgrade COL from neutral to sell with new TP of A$15.60/sh, implying 9.5% share price downside due to laggard in digital transformation resulting in market share losses and entrance into high investment cycle for digital and supply chain pressuring margins over FY23/24.

Origin Energy Ltd (ASX: ORG)

Moving across to utilities, the Origin share price is currently down 3.48% over the past month. There has been plenty of bad news for the energy producer, including analysis that it could be a ‘zombie company’ with an interest coverage ratio of less than one and carrying significant debt.

Origin has also been pressured to cut down on its emissions. HESTA, a $68 billion Australian superannuation fund, has placed Origin and others on watch, saying if they failed to address climate risks, they could be dumped from the fund’s portfolio.

But the challenges for Origin started before the past month began, with the company reporting a $1.4 billion loss for FY22 on 18 August.

The post Are these ASX blue-chip shares losing their defensive benefits? appeared first on The Motley Fool Australia.

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

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

More reading

• Attention Endeavour shareholders: Here’s some news on your dividends
• Have Woolworths shares ‘got their mojo back’?
• Why is the Coles share price tumbling today?
• 5 things to watch on the ASX 200 on Wednesday
• Supermarket shakeup: Do Coles shares offer better dividends than Woolworths?

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 positions in and has recommended Goldman Sachs. The Motley Fool Australia has positions in and has recommended COLESGROUP DEF SET. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/ViJqBW6

The Qantas Airways Limited (ASX: QAN) share price is dipping in Friday’s trade, down 0.2%.

Qantas shares closed yesterday trading for $5.35 and are currently trading for $5.34 apiece.

While a loss is a loss, the Qantas share price is holding up better than the broader market, with the benchmark S&P/ASX 200 Index (ASX: XJO) down 1.1% at this same time.

The ASX 200 sell-off follows another day of significant losses in US markets, with US futures pointing to another rough day ahead on the NASDAQ-100 (NASDAQ: NDX) and Dow Jones Industrial Average Index (DJX: .DJI).

But, what’s this about Qantas’ competitor Virgin Australia eyeing merger opportunities?

Is Virgin Australia looking to spread its wings?

If you cast your mind back a few years, you will likely recall that Virgin Australia used to trade on the ASX. And, indeed, it may do so again with a potential initial public offering (IPO) flagged for as early as next year.

Virgin entered voluntary administration in April 2020. That was right when domestic and global air travel came to an abrupt halt amid the early months of the pandemic.

Bain Capital bought Virgin in October 2020 for $3.5 billion and continues to hold the airline today.

Regarding Virgin’s acquisition plans, in an article published by The Australian after markets closed yesterday, the paper said its sources had indicated Virgin and Air New Zealand Limited (ASX: AIZ) have discussed a merger. The column also said Virgin is investigating acquiring Regional Express Holdings Ltd (ASX: REX).

According to the article, unnamed sources reported that investment banks Goldman Sachs and Jarden have been offering assistance to Virgin regarding possible merger plans. It was said the plan would involve “a back door dual listing” on both the ASX and the New Zealand Exchange (NZX).

As far as the Air New Zealand discussion goes, the airline responded to the media merger speculations this morning, stating:

Air New Zealand confirms that it has not been approached, and is not in discussions with any parties, regarding a potential merger transaction.

As for any potential impact on Qantas shares, if Virgin were to acquire Rex, The Australian said its sources indicated that would only move forward if Rex were to return to solely flying regional routes.

Qantas share price snapshot

The Qantas share price has outperformed in 2022, up 3.7%. That compares to a 10.8% loss posted by the ASX 200.

The post Qantas share price outperforming as Virgin eyeing merger opportunities appeared first on The Motley Fool Australia.

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

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

More reading

• How this fundie is beating the ASX 300 without fossil fuels
• Qantas share price lifts 3% following Wednesday’s rout
• While the Qantas share price is stalling, Rex is surging 5%. What’s happening?
• What’s the growth runway for Qantas shares in the coming year?
• Qantas share price holds firm despite Virgin ‘Switch-A-Roo’ play

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.

from The Motley Fool Australia https://ift.tt/5VshYbe

The Lake Resources N.L. (ASX: LKE) share price has continued its slide on Friday.

In afternoon trade, the lithium developer’s shares are down almost 3% to 90 cents.

This means the Lake Resources share price is now down approximately 30% since this time last week.

Why is the Lake Resources share price falling?

Investors have been selling down the Lake Resources share price today amid another market selloff.

The selling has been strongest in higher risk assets such as lithium shares. This has seen the likes of Liontown Resources Limited (ASX: LTR) and Pilbara Minerals Ltd (ASX: PLS) fall 5% and 3%, respectively, today.

What about the rest of its declines?

Also weighing particularly heavily on the Lake Resources share price this week has been news that a dispute has arisen between the company and its partner Lilac Solutions.

The company revealed that the dispute relates to the date by which certain milestones need to be achieved for Lilac to earn a 25% stake in the Kachi Lithium Project. Lake believes that these milestones must be achieved by 30 September, whereas Lilac believes it has until 30 November to do so.

To resolve the dispute, Lake has exercised its rights to have the dispute resolved either by agreement of both Lake and Lilac or by arbitration.

This is particularly worrying for investors as Lake’s Kachi project is highly dependent on Lilac’s unproven DLE technology. In fact, it recently commented on Lilac’s technology. It said:

Lake believes DLE will become the primary method of lithium extraction because it is the only practical way to ramp up lithium supply sustainably and in a way that conforms to increasing ESG scrutiny on lithium projects.

However, in the lithium industry not all DLE processes are the same. This is why Lake has taken the time to identify the process that is not only most efficient but also delivers a product that represents the most socially and environmentally sustainable approach to lithium extraction through ion exchange DLE and brine managed reinjection.

Investors will no doubt be hoping that this dispute doesn’t impact the partnership. But time will tell if it does.

The post Why is the Lake Resources share price tumbling again? appeared first on The Motley Fool Australia.

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

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

More reading

• Why Lake, Pushpay, South32, and Tyro shares are dropping
• Lake Resources share price continues to dive, down 24% in a week
• How are ASX lithium shares faring amid Wednesday’s carnage?
• Here are the 3 most heavily traded ASX 200 shares on Wednesday
• Why Lake Resources, Lovisa, Megaport, and St Barbara shares are dropping

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.

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

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.

Stock market investors have had a tough time so far this year. Major market benchmarks are sharply lower from where they started the year, and every time Wall Street seems to have regained its footing, some new concern sends stocks reeling once again.

For those with money to invest, falling markets pose a conundrum. On one hand, share prices for thousands of stocks are much more attractive than they were a year ago, so if you still believe that a company’s business will succeed in the long run, getting to invest in more shares at lower prices is a bargain opportunity. On the other hand, nobody wants to buy a stock only to see it continue to lose ground.

So should you buy stocks now, or wait for some future sign? To get some insight on that question, it’s helpful to turn to the words of legendary investor Warren Buffett. The Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) CEO has been through plenty of bear markets in his long investing career, and his long-term investing approach has paid off with market-crushing returns through thick and thin. Here’s what Buffett has given as advice to those trying to decide whether to invest or wait in tough times.

Buffett’s advice for active investors

Buffett has a couple of ideas for active investors that at first seem to be in conflict. When you think about it, though, the net takeaway is to be aggressive but selective in choosing stocks to buy during difficult market conditions.

Buffett’s aggressive nature shines through in several statements. In the shareholder letter that came out in 2010, the Berkshire CEO wrote: “Big opportunities come infrequently. When it’s raining gold, reach for a bucket, not a thimble.” That approach in the aftermath of the financial crisis proved to be quite timely, as the ensuing bull market lasted throughout the 2010s and was one of the most prosperous periods in stock market history. It also underscores his much more commonly cited aphorism, “Be greedy when markets are fearful.”

Yet Buffett’s success has largely come from being selective with his investments. Fortunately, tough times offer great opportunities to see the truth about companies. As he noted in the shareholder letter that came out in 2002, “You only find out who is swimming naked when the tide goes out.” Even poorly run companies can do well in bull markets, but bear markets separate the wheat from the chaff.

Moreover, Buffett isn’t hesitant to hold off on investments he’s not completely confident about making. As he was quoted at the 1999 Berkshire shareholder meeting as saying: “The stock market is a no-called-strike game. You don’t have to swing at everything. You can wait for your pitch.” 

Buffett’s advice to less-active investors

Not everyone wants to spend a lot of time figuring out which companies are most likely to outperform their peers. For those less-active investors, Buffett also has some simple advice: Dollar-cost average using index funds.

Here’s specifically what Buffett told investors at Berkshire’s 2004 annual shareholders’ meeting: “If you accumulate a low-cost index fund over 10 years with fairly regular sums, I think you will probably do better than 90% of the people around you that take up investing at a similar time.”

Fortunately, there are plenty of such investing vehicles available for those who don’t want to dive into individual stocks. Tracking popular indexes like the S&P 500 or even the entire universe of stocks is possible through mutual funds and exchange-traded funds, many of which charge 0.1% or less in annual expenses to investors.

The right answer for you

The most important attribute successful investors share is having an investing strategy. What that strategy looks like, though, can differ among investors without sacrificing the potential for success. Buffett clearly understands this, and it’s why he acknowledges that different strategies will work better for different people.

In general, though, Buffett’s a big believer in bucking market trends, taking advantage of bargain opportunities, and beating back your emotions. The times when you’re likely most scared to invest have historically been the best times to get your money working the markets, and so even if you don’t dive in right now, you won’t want to wait too long before getting a solid investing plan in place.

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

The post Should you buy stocks now or wait? Here’s Warren Buffett’s advice appeared first on The Motley Fool Australia.

(function() { function setButtonColorDefaults(param, property, defaultValue) { if( !param || !param.includes(‘#’)) { var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0]; button.style[property] = defaultValue; } } setButtonColorDefaults(“#43B02A”, ‘background’, ‘#5FA85D’); setButtonColorDefaults(“#43B02A”, ‘border-color’, ‘#43A24A’); setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’); })()

More reading

• Amazon, Microsoft, and Alphabet have partnered with this US cloud stock. Is it a buy?
• 2 unstoppable Warren Buffett stocks that can turn sitting cash into growing wealth
• The best investment, according to Warren Buffett, and how you can own it
• 6 reasons to buy Apple stock now and never sell
• Is this really the right time to invest in the stock market?

Dan Caplinger has positions in Berkshire Hathaway (B shares). 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.

from The Motley Fool Australia https://ift.tt/fx2HVqC

It’s a happy day for Endeavour Group Ltd (ASX: EDV) shareholders this Friday. Not because Endeavour shares are performing well though. At present, the drinks and pubs company has lost a nasty 2.11% so far this Friday, putting the Endeavour share price at $7.18 a share.

That’s a significant underperformance of the broader market. The S&P/ASX 200 Index (ASX: XJO) is down by around 1.15% so far today.

So why is it a happy day for Endeavour shareholders then?

Well, because it’s dividend payday.

Endeavour shareholders to receive final dividend today

Last month, Endeavour reported its full-year earnings for FY22. These included the declaration that the company’s final dividend for FY22 would come in at 7.7 cents per share, fully franked.

Endeavour shares traded ex-dividend for this payment back on 31 August. So investors will have had to own Endeavour shares before that date to be eligible for this dividend.

The 7.7 cents per share payment represents a pleasing 10% rise over last year’s final dividend of 7 cents per share. This (ironically) was Endeavour’s first-ever dividend as an independent ASX company. Remember, this business was spun out of Woolworths Group Ltd (ASX: WOW) last year.

But the final dividend was a significant reduction from Endeavour’s last dividend, the interim payment of 12.54 cents per share that investors received back in March.

But regardless, no doubt this dividend hitting investors’ bank accounts today will be a happy occasion for shareholders. Investors will be receiving this dividend in cash, as Endeavour does not currently offer a dividend reinvestment plan (DRP) enabling investors to receive additional Endeavour shares instead.

At the current Endeavour share price, this latest dividend gives the company a dividend yield of 2.14%.

Endeavour shares have been a fairly excellent investment to have held since the company was spun off last year.

The Endeavour share price is up a robust 5.74% in 2022 thus far, and up 17.7% since its ASX float in June 2021. By contrast, the ASX 200 is down by 10.85% and 7.4% respectively over those same periods.

The post Attention Endeavour shareholders: Here’s some news on your dividends appeared first on The Motley Fool Australia.

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

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

More reading

• 5 things to watch on the ASX 200 on Friday
• Have Woolworths shares ‘got their mojo back’?
• Supermarket shakeup: Do Coles shares offer better dividends than Woolworths?
• Down 6% in a month, is September a good time to buy Woolworths shares?
• Why this top broker is tipping 23% upside for the Woolworths share price

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

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

ASX uranium shares are suffering at the hands of the market on Friday, with some favourites tumbling as much as 5.5%.

Their woes follow a rough overnight session for some major global uranium names and come amid a shocking session for S&P/ASX 200 Index (ASX: XJO) energy stocks.

Shares in ASX 200 uranium producer Paladin Energy Ltd (ASX: PDN) are falling 3.9% right now.

Meanwhile, those of Bannerman Energy Ltd (ASX: BMN), Deep Yellow Limited (ASX: DYL), and Boss Energy Ltd (ASX: BOE) have slumped 4.6%, 3.3%, and 5.5% respectively.

For comparison, the ASX 200 has slipped 1% right now while the S&P/ASX 200 Energy Index (ASX: XEJ) has fallen 2.6%.

Let’s take a closer look at what might be going wrong for ASX uranium shares today.

What’s dragging on ASX uranium shares today?

ASX uranium shares are underperforming on Friday, dumping some of the gains made over the last few weeks.

Today’s fall included, the Bannerman share price has gained 46% over the last 30 days. Meanwhile, that of Paladin Energy is up 19%. Thus, their latest slump could partly represent profit taking.

It could also be a response to recent slumps recorded by major global uranium names.

The Canadian-listed Sprott Physical Uranium Trust – home of nearly US$3 billion worth of the energy commodity – fell 2.3% overnight. While that leaves it 5% lower than it closed last week’s trade, it’s still 15% higher than it was this time last month.

Meanwhile, the US-listed Global X Uranium ETF plunged 4% to its lowest price in nearly two weeks.

Their latest dips follow a rally, seemingly spurred by concerns of a global energy crisis.

A doubling down on nuclear energy – and, therefore, uranium – could be the next frontier for nations impacted by an energy crunch brought on by Russia’s invasion of Ukraine, as my Fool colleague Bernd reports.

And with Australia housing much of the world’s uranium resources, ASX shares could be in line to benefit.  

The post Why are ASX uranium shares getting smashed on Friday? appeared first on The Motley Fool Australia.

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

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

More reading

• Even with today’s falls, the Paladin Energy share price is still up 31% in 3 weeks. Here’s why
• ASX uranium shares have had a stellar month. Are they just getting started?
• Why Macquarie is tipping 15% upside for the Paladin Energy share price
• Why has the Paladin Energy share price rocketed 20% in a month?
• What’s the outlook for ASX uranium shares in September?

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.

from The Motley Fool Australia https://ift.tt/ys7V9e2

The market may be sinking today but the Westpac Banking Corp (ASX: WBC) share price has managed to avoid the selloff.

At the time of writing, the banking giant’s shares are up ever so slightly to $21.56.

This compares favourably to a 1.1% decline by the ASX 200 index.

Why is the Westpac share price outperforming the ASX 200?

The Westpac share price appears to be outperforming today thanks to a bullish broker note out of Citi this morning.

According to the note, the broker has reiterated its buy rating and lifted its price target on the bank’s shares to $30.00. Based on the current Westpac share price, this implies potential upside of approximately 39% over the next 12 months.

And that’s before dividends! If you include the $1.60 per share fully franked dividend that Citi expects Westpac to pay in FY 2023, the total potential return stretches to over 46%.

What did the broker say?

Citi is feeling positive about the Australian banking sector thanks to the unprecedented amount of excess liquidity that the banks are sitting on. It believes that this leaves them well-placed to benefit from higher rates and has upgraded sector earnings estimates in FY 2023 and FY 2024 to reflect this.

It isn’t just the Westpac share price that the broker is bullish on. It has retained its buy rating and $29.00 price target on Australia and New Zealand Banking Group Ltd (ASX: ANZ) shares and upgraded National Australia Bank Ltd (ASX: NAB) shares to a buy rating with a $32.75 price target.

The only big four bank the broker isn’t positive on is Commonwealth Bank of Australia (ASX: CBA). It continues to believe that its shares are expensive and has retained its sell rating with a $85.50 price target.

The post Why is the Westpac share price outperforming the ASX 200 today? appeared first on The Motley Fool Australia.

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

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

More reading

• Could Westpac shares soon be saying bon voyage to money managing?
• Which ASX 200 bank share will win the great tech battle?
• Westpac share price lifts amid latest competitive push
• Macquarie shares bear the brunt of bank sell-off amid inflation bomb
• Down 16% in a year, can the Westpac share price become a successful turnaround story?

Motley Fool contributor James Mickleboro has positions in Westpac Banking Corporation. 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 Westpac Banking Corporation. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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