The Karoon Energy Ltd (ASX: KAR) share price has started the week with a whimper.

In late trade, the energy explorer’s shares are down slightly to $2.01.

Though, it is worth highlighting that the Karoon Energy share price is smashing the market on a 12-month basis.

During this time, the company’s shares have risen a whopping 62%.

Where next for the Karoon Energy share price?

The good news for investors is that one broker believes the Karoon Energy share price gains are only getting started.

According to a note out of Barclay Pearce Capital, its analysts have put a buy rating and $3.49 price target on the company’s shares.

Based on the current Karoon Energy share price of $2.01, this implies potential upside of 73% for investors over the next 12 months.

What did the broker say?

Barclay Pearce Capital has been busy reviewing the company’s results for FY 2022 and appears to have liked what it saw.

It highlights that the result was well ahead of the market’s expectations and suspects that more of the same could be coming in the future. The broker commented:

KAR reported FY22 underlying NPAT of US$89.6m (AUD$128.0m using an AUD/USD 0.70c conversion rate) which is 35% above market expectations of AUD$94.8m. Hence, we expect positive earnings revisions of 20% for FY23 and 10% for future periods.

All in all, it feels that this makes it great value at the current level. Its analysts conclude:

We are initiating coverage on KAR with a 12-month target price of $3.49 and with a BUY recommendation. The price target is underpinned by our valuation.

The post Broker tips this ASX 300 energy share to rocket 70% appeared first on The Motley Fool Australia.

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More reading

• Why Karoon Energy, Pilbara Minerals, PointsBet, and Whitehaven Coal are rising
• Why these 3 ASX shares could be in for a massive boost this month
• 3 ASX All Ords shares that leapt higher on FY22 results 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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The share price of S&P/ASX 200 Index (ASX: XJO) lithium favourite Core Lithium Ltd (ASX: CXO) has taken off in 2022. It’s gained 157% since the start of this year to trade at $1.62 right now.

For context, the ASX 200 has slumped 8% so far this year.

With all those gains under its belt, market watchers will be forgiven for assuming the company must be rolling in lithium. But the truth might come as a surprise.

Is Core Lithium producing yet?

Those who bought Core Lithium shares in 2021 will likely be jumping for joy this year. The stock has doubled and then some since the new year began.

That’s particularly impressive given the company still hasn’t secured its maiden production. Though, the major milestone isn’t far away.

The company is on track to deliver its Finniss Project’s first production before the end of this year.

The project, located near Darwin Port, is said to be Australia’s newest and most advanced lithium project.

Its high-grade and high-quality lithium is suitable to produce lithium-ion batteries to power electric vehicles (EVs) and renewable energy storage.

Indeed, the company signed a lithium supply agreement with EV goliath Tesla Inc (NASDAQ: TSLA) in March. The Core Lithium share price roared 15% higher on the back of the deal. A binding off-take take sheet is expected to be agreed upon between the pair by the end of next month.

Core Lithium also owns a series of other projects.  

It holds the Anningie and Barrow Creek Lithium Projects in the north Arunta Region of the Northern Territory, as well as notable nearby projects.

On top of those, it boasts copper, silver, and lead projects in the Northern Territory, a zinc project in South Australia, and uranium projects in both states.

Core Lithium share price snapshot

It’s been a resoundingly positive period for the Core Lithium share price lately.

On top of gaining 157% year-to-date, the stock is swapping hands for 357% more than it was this time last year.

Though, it’s currently 4.7% lower than the all-time high of $1.48 it reached in April.

The post The Core Lithium share price has soared 150% in 2022, but is the company actually producing? appeared first on The Motley Fool Australia.

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More reading

• Here are the 3 most heavily traded ASX 200 shares on Monday
• Vulcan Energy share price is one of the worst ASX lithium performers so far this year. Why?
• Here are the 3 most heavily traded ASX 200 shares on Friday
• Why is the Global Lithium Resources share price rocketing 27% this week?
• 4 ASX lithium shares that have rocketed more than 100% in 2022

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 S&P/ASX 200 Index (ASX: XJO) is off to the races today in what has been a pretty fantastic start to the trading week for ASX investors. At the time of writing, the ASX 200 has gained an impressive 1.08% so far this session to just under 6,970 points.

But let’s dig deeper into these share market gains and take a look at the ASX 200 shares currently topping the market’s trading volume charts, according to investing.com.

The 3 most traded ASX 200 shares by volume this Monday

Core Lithium Ltd (ASX: CXO)

First cab off the rank today is the ASX 200 lithium share Core Lithium. So far this Monday, a sizeable 16.31 million Core Lithium shares have been exchanged on the markets. There’s been no new news out of the company itself today.

So perhaps today’s gains are being caused by the movements in the company’s share price itself. Core shares have bounced around quite a lot today. The company is presently 0.63% lower at $1.585 a share.

But we have seen lows of $1.55 and highs of $1.64 over just today’s session. It’s probably this volatility that has caused Core Lithium to be present on this ASX 200 list today.

Pilbara Minerals Ltd (ASX: PLS)

Next up is another ASX 200 lithium share in Pilbara Minerals. So far this Monday, a whopping 20.57 million Pilbara shares have been bought and sold.

This has probably been sparked by yet another new record high for the lithium producer today. At present, Pilbara shares are trading at $4.575 each, up a healthy 1.67%. But the company touched $4.62 a share earlier this afternoon, Pilbara Minerals’ new high watermark.

AMP Ltd (ASX: AMP)

Finally, our most traded share this Monday is financial services provider AMP. This session has seen a hefty 20.93 million AMP shares find a new home. This could be a result of AMP’s ongoing share buybacks, which are continuing on a day-to-day basis at present.

But it’s likely that AMP’s big share price move today is also eliciting high trading volumes. Currently, the AMP share price is going for $1.177, up a pleasing 4.16% so far today.

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

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More reading

• Top broker tips lithium price to surge 86% over next 2 years
• Up 47% in a month, is the party just getting started for Pilbara Mineral shares?
• 3 ASX All Ordinaries shares hitting all-time highs on Monday
• Brokers name 3 ASX lithium shares to buy
• Vulcan Energy share price is one of the worst ASX lithium performers so far this year. Why?

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

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The S&P/ASX 200 Index (ASX: XJO) is on course to start the week with an impressive gain. In late trade, the benchmark index is up 1.1% to 6,972.4 points.

Four ASX shares that have failed to follow the market higher today are listed below. Here’s why they are dropping:

Chorus Ltd (ASX: CNU)

The Chorus share price is down 2% to $6.93. This has been driven by the New Zealand based telecommunications company’s shares trading ex-dividend this morning. Eligible shareholders can expect to receive a 16.1 cents per share dividend next month on 11 October.

MA Financial Group Ltd (ASX: MAF)

The MA Financial share price has crashed 20% to $4.05. This was despite there being no news out of the financial company formerly known as Moelis. However, it has responded this afternoon, explaining why it thinks its shares were sold off. It commented: “We note comments made in the media about the potential outcome of the Federal Government’s review into the immigration system and its visa programmes including the Significant Investor Visa (SIV).”

Tyro Payments Ltd (ASX: TYR)

The Tyro share price is down 5% to $1.30. Reports that Potentia is trying to gain support for its $1.27 per share takeover offer appear to be weighing on this payments company’s shares. Investors appear to have been betting on a better offer being made, but that is looking less likely based on current speculation.

Vulcan Energy Resources Ltd (ASX: VUL)

The Vulcan Energy share price is down 8% to $7.97. This is despite there being no news out of the lithium developer. However, it is worth noting that a number of lithium shares are under pressure on Monday. This could be due to profit taking after some strong gains in recent weeks.

The post Why Chorus, MA Financial, Tyro, and Vulcan Energy shares are dropping appeared first on The Motley Fool Australia.

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More reading

• Why did the MA Financial share price just crash 20% before being halted?
• Vulcan Energy share price is one of the worst ASX lithium performers so far this year. Why?
• Tyro share price climbs another 10%. Could a fresh takeover bid be on the horizon?
• Nitro now Tyro: Could there be ‘Potentia-l’ for other ASX tech shares?
• Here are 3 ASX 200 shares going ex-dividend on Monday

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 Tyro Payments. The Motley Fool Australia has recommended Tyro Payments. 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 another positive day for some ASX lithium shares. At the time of writing, the Pilbara Minerals Ltd (ASX: PLS) share price is up 1% while its peer Core Lithium Ltd (ASX: CXO) is trading marginally lower.

Investors are expecting demand for lithium to keep rising over the long term.

With the world looking to decarbonise, lithium is seen as an important element in the production of batteries for electric vehicles and other large-scale battery solutions.

One of the world’s biggest miners, Rio Tinto Limited (ASX: RIO), has recently expanded into lithium with its Rincon lithium project acquisition for $825 million. At the time, the miner said:

The market fundamentals for battery grade lithium carbonate are strong, with lithium demand forecast to grow 25% to 35% per annum over the next decade with a significant supply demand deficit expected from the second half of this decade.

Stronger lithium price expected

According to reporting in the Australian Financial Review, the broker Barrenjoey is even more optimistic about the prospects for lithium.

Barrenjoey thinks the lithium price could rise by up to 86% over the next two years, thanks to ongoing tight market conditions which could continue into 2023. This, in turn, will have a flow-on effect, leading to larger net profit after tax (NPAT) figures and cash flows for lithium miners.

The AFR reported that Barrenjoey’s head of mining and metal Glyn Lawcock pointed to limited lithium supply as the major barrier to electric vehicle uptake.

Barrenjoey said Pilbara Minerals would be the one miner that benefits the most from higher prices for the commodity. The AFR reported the broker has increased its earnings per share (EPS) forecasts for Pilbara by up to 44% for FY23 and up to 120% for FY24.

Pilbara Minerals is bullish on the situation

The ASX lithium share’s FY22 result included some positive commentary about the future.

It said that lithium pricing remains “strong”, putting Pilbara Minerals in “prime position to capitalise on current market conditions, including the sale of spodumene concentrate”.

Pilbara Minerals is the 100% owner of the Pilgangoora project in Western Australia which, according to the company, houses one of the world’s largest deposits of hard rock lithium.

The company also expects the lithium deficit to worsen. By 2040, the expected lithium deficit could be an equivalent of around 18 Pilgangooras “with likely pricing implications”, it predicts.

Pilbara Minerals managing director and CEO Dale Henderson said:

The business is in an enviable position, supplying product into a burgeoning growth market with a clear pathway for further production growth off a performing operating base. Further, chemicals participation with our downstream JV with POSCO and our midstream project provides another extension of value creation for our shareholders. A very exciting future lies ahead for our business and our shareholders.

Pilbara Minerals share price snapshot

Over the last six months, Pilbara Minerals shares have risen around 64%.

The post Top broker tips lithium price to surge 86% over next 2 years appeared first on The Motley Fool Australia.

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More reading

• Up 47% in a month, is the party just getting started for Pilbara Mineral shares?
• 3 ASX All Ordinaries shares hitting all-time highs on Monday
• Brokers name 3 ASX lithium shares to buy
• Here are the top 10 ASX 200 shares today
• Up, up, and away: Pilbara Minerals shares deal out another all-time high

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

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The Pilbara Minerals Ltd (ASX: PLS) share price has been a standout ASX performer over the past month or so. Since 12 August, Pilbara Minerals shares have risen from $3.12 each to today’s pricing of $4.59 (at the time of writing). That’s a rise worth a jaw-dropping 47.1% for this ASX 200 lithium share.

Not only that, but we have also seen new 52-week high after new 52-week high over this short time span. The latest of these new highs came just today, with Pilbara shares hitting $4.62 this afternoon.

Think about this though. If any investor lucky enough to buy into Pilbara shares during the worst throes of the 2020 COVID crash, they would have been able to pick up shares of this ASX lithium producer for just 15 cents each.

If there indeed is any investor out there that made such a fortuitous trade, they would be sitting on what would be a near-3,000% gain today.

But enough on the past, hypothetical or real. What investors today probably care more about is what might happen to the Pilbara share price from here.

So could this leading ASX lithium share still be a buy today?

Does the Pilbara Minerals share price have more record highs up its sleeve?

Well, one ASX broker thinks it might. As my Fool colleague James covered on the weekend, ASX broker Macquaire remains very bullish on the Pilbara Minerals share price today.

Macquarie currently gives the company an outperform rating. That rating comes with a 12-month share price target of $5.60 per share. If that came to pass, it would represent a further upside of 22.5% or so from today’s share price.

As we discussed last week, Macquarie is building its optimism on Pilbara’s projections that it can increase its lithium production by more than half in FY23. Given the extraordinary price gains that lithium commodities have enjoyed in recent months, this should also mean higher cash flows and profits for Pilbara over this financial year.

No doubt that news will be welcomed by investors. But we shall have to wait and see if Macquarie’s Pilbara pricing prediction proves prescient.

At the current Pilbara Minerals share price, this ASX 200 lithium share has a market capitalisation of $13.42 billion.

The post Up 47% in a month, is the party just getting started for Pilbara Mineral shares? appeared first on The Motley Fool Australia.

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More reading

• Top broker tips lithium price to surge 86% over next 2 years
• 3 ASX All Ordinaries shares hitting all-time highs on Monday
• Brokers name 3 ASX lithium shares to buy
• Here are the top 10 ASX 200 shares today
• Up, up, and away: Pilbara Minerals shares deal out another all-time high

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

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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.

Your goal as an investor is to assemble a portfolio that allows you to steadily build wealth over time. But on the road to building wealth, you might hit some snags. Specifically, you may end up having to sell a stock when it’s down, thereby taking a hit on that investment.

To be clear, a lot of people’s portfolios are down right now year to date due to general stock market turbulence. And that’s not a very good reason to sell a stock.

But let’s say there’s a stock in your brokerage account that’s been consistently losing value since you bought it. Let’s also say that you’ve been following the company’s financials and have reason to believe those shares will be worth even less money down the line. That’s a good reason to take a loss rather than sit tight and ride things out.

If that’s the scenario you’ve landed in, try not to stress. Although investment losses can be frustrating and upsetting, they can also, in some ways, work to your benefit.

How to capitalize on an investment loss

Investment losses aren’t ideal. But you can use them to offset capital gains in your portfolio in a non-tax-advantaged account.

Let’s say you’re sitting on a stock that’s done remarkably well this year, even though the market, on a whole, has been iffy. You may be inclined to sell that stock while it’s way up and walk away with a nice profit.

Normally, the tax man would be entitled to a share of that profit in the form of capital gains taxes. But if you’re sitting on a capital loss, you might manage to reduce or wipe out that obligation entirely.

Let’s say that by selling that winning stock today, you’d gain $5,000. If you have a $5,000 loss on another stock that you sell, you won’t owe the IRS anything.

Now let’s say you’re only looking at a $2,000 gain in the scenario above. You can still use your full $5,000 loss to your advantage. That’s because the IRS allows you to offset up to $3,000 of ordinary income with capital gains losses.

Capital gains losses can be carried forward to future tax years. Let’s say you’re looking at a $1,000 gain in this situation, not $2,000. If you use your $5,000 to offset that $1,000 plus $3,000 of ordinary income, you can carry the remaining $1,000 forward.

Dig deeper — but don’t beat yourself up

If you lost money on a stock this year, it’s a good idea to see if you can figure out why. Maybe you didn’t spend enough time digging into that company’s financials. Or maybe that loss wasn’t preventable — things just declined at the company and it wasn’t something you could’ve predicted.

It’s a good idea to get to the bottom of why you’re sitting on a loss to potentially avoid making the same mistake again. But don’t give yourself too difficult a time. It’s pretty rare for investors to get every single decision they make right. And harping on a loss might make you lose confidence in your ability to handpick stocks, so there’s no sense in putting yourself through that.    

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

The post Lost money on an investment? Here’s what to do appeared first on The Motley Fool Australia.

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More reading

• Why did the MA Financial share price just crash 20% before being halted?
• Why is the Zip share price bolting out the gate on Monday?
• 3 ASX All Ordinaries shares hitting all-time highs on Monday
• Why has the BetaShares Electric Vehicles and Future Mobility ETF lost 27% in 2022?
• 3 ASX 200 mining shares going great guns on Monday

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.

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

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The MA Financial Group Ltd (ASX: MAF) share price slipped into the red this morning shortly before being halted, giving the company time to make a further announcement.

The fact that shares were halted hints that a concrete reason for the sell-off could be announced shortly by the company.

Some speculation about the sell-off has emerged from The Australian today, stating that Australia’s Significant Investors Visa (SIV) scheme will undergo serious changes or be revoked altogether.

Wealthy international clients contribute $3.4 billion to MA Financial’s $7.2 billion total assets under management. With the visa scheme being called into question, this could jeopardise this contribution.

Significant Investors Visa (SIV) in danger of being scrapped

In an Australian Financial Review article posted on Sunday, Home Affairs Minister Clare O’Neil commented on the SIV scheme:

It’s actually costing us on average for every person because these are people who are generally coming in at quite a late stage of their life, often at the end of their business career, and coming to Australia, basically to settle down and retire. Now, that’s not a productive use, I don’t think, of our migration system.

O’Neil continued:

It is a visa program that I think isn’t adding value to the country, and it’s something that we’ll be looking at in the context of the review of the immigration program that I’ve just announced. At the moment, I can’t see a lot of reasons to maintain it as part of our program.

What else happened?

The company’s most recent earnings results for 1HFY22 were positive across the board when it reported them on 25 August. MA Financial recorded strong results in growing its revenues and profitability and forecasting sizable earnings per share (EPS) growth for CYFY22 along with improved fundamentals. When the Fool reported on MA Financial’s results, the company’s shares rallied 1.48%.

A total of 838,551 shares were traded in less than 20 minutes this morning. That’s an unprecedented velocity of shares trading hands for the company.

To put this number into perspective, MA Financial’s average share trading volume for an entire month is only 251,654. While today 233.21% more shares were traded in less than half an hour.

Given the seriousness of the market’s reaction, the company’s almost immediate suspension of shares in trading today, and press coverage, it’s more than likely we’ll see a response from MA Financial in the immediate future.

After all, the company knows something that we don’t and is preparing its comments as we speak.

MA Financial share price snapshot

MA financial’s share price is down 20.59% today.

Shares of the diversified financial services company are currently on ice at $4.05 each. Earlier today, shares made an intraday high of $4.59. and a low of $3.94

The company share price is down 54.75% year to date. Meanwhile, the S&P/ASX 200 Index (ASX: XJO) is 6.37% over the same period.

The company’s market capitalisation is $897.43 million.

The post Why did the MA Financial share price just crash 20% before being halted? appeared first on The Motley Fool Australia.

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More reading

• 3 ASX 300 financial shares climbing on earnings updates
• Why these 2 ASX shares rocketed 40% last month

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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After Wall Street recorded strong gains last Friday, the Zip Co Ltd (ASX: ZIP) share price is storming out of the gate today.

This comes despite the buy-now, pay-later (BNPL) provider keeping a low profile since its full-year results.

Zip shares rose to an intraday high of 93.5 cents, up 6.25% but have since retraced as the day has gone on.

At the time of writing, its shares are swapping hands at 90 cents apiece, up 2.27%.

What’s boosting Zip shares higher on Monday?

Investors are pushing up the Zip share price following an uplift across the S&P/ASX 200 Financials (ASX: XFJ) sector.

The index representing a wide range of financial services is currently up 1.2%. This makes it one of the biggest movers on the ASX.

Similarly, shares in Block Inc (ASX: SQ2) and Sezzle Inc (ASX: SZL) are up 4.34% and 3.88%, respectively.

The ASX appears to have shrugged off any concerns about an impending rate hike by the US Federal Reserve.

Economists are widely expecting the central bank to deliver its third consecutive 0.75 percentage point rate hike on 21-22 September.

The decision to increase interest rates is to combat the sky-high inflation that has been recorded in the US.

Nonetheless, investors will be closely watching the US August consumer price index report that is scheduled to be released Tuesday night. This report will provide crucial data on inflation in which the Fed will factor in ahead of its upcoming meeting.

The market is anticipating another 0.3% increase for August.

If this figure is higher, then it’s more than likely the rally will end and shares will tumble.

On the other hand, if it is less than 0.3%, shares could extend their recent gains.

Zip share price recap

Over the past 12 months, the Zip share price has fallen 87%, with year-to-date down 79%.

A challenging external environment mixed with the company’s widening credit losses and ballooning net losses has scared investors off.

Based on today’s price, Zip presides a market capitalisation of around $605.43 million.

The post Why is the Zip share price bolting out the gate on Monday? appeared first on The Motley Fool Australia.

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More reading

• Here are the 10 most shorted ASX shares
• 5 things to watch on the ASX 200 on Monday
• Here are the top 10 ASX 200 shares today
• Why is the Zip share price charging 7% higher on Thursday?
• Zip share price jumps as broker goes on myth-busting bender

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 positions in and has recommended Block, Inc. and ZIPCOLTD FPO. The Motley Fool Australia has positions in and has recommended Block, 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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ASX shares are having a good day on the market today, with the benchmark All Ordinaries Index (ASX: XAO) lifting 1.02%.

And that’s helping to drive some ASX All Ords shares to never-before-seen heights.

Let’s take a look at three stocks hitting their highest prices ever on Monday.

3 All Ords shares hitting record highs

Pilbara Minerals Ltd (ASX: PLS)

The Pilbara Minerals share price has taken off to yet another all-time high on Monday. The All Ords share lifted to trade at $4.62 today, marking a 2.66% gain.

There’s been no news from the S&P/ASX 200 Index (ASX: XJO) lithium producer since it dropped its full-year earnings, detailing its maiden profit, on 23 August.

Though, its stock is now trading for 45% more than it was prior to the release.

Mineral Resources Limited (ASX: MIN)

Pilbara Minerals’ fellow ASX All Ords and ASX 200 materials share Mineral Resources has also been on a winning run lately.

Its stock surged 13.6% on Friday amid rumours the company might be planning to spin out its lithium business.

And it’s lifting once more today on the back of an update from its Norseman Lithium joint venture (JV). The initial phase one drilling program completed by the company at the Buldania Lithium Project – part of its initial earn in under the JV ­– has confirmed the presence of lithium.

The Mineral Resources share price hit an all-time high of $74 earlier today, marking a 3.5% gain.

Lovisa Holdings Ltd (ASX: LOV)

The final ASX All Ords share hitting a new record high is Lovisa. Stock in the jewellery retailer hit a high of $25.13 earlier today, representing a 5.8% gain.

It comes as Morgan Stanley ups its expectations for the company. The broker has kept its overweight rating for Lovisa’s shares and upped its price target to $27.25, my Fool colleague James reports.

That represents a potential 8.4% upside on the All Ords share’s current record high.

Interestingly, Lovisa will soon join Pilbara Minerals and Mineral Resources in the ASX 200. It will be added to the index next week.

The post 3 ASX All Ordinaries shares hitting all-time highs on Monday appeared first on The Motley Fool Australia.

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More reading

• Why A2 Milk, BHP, Lovisa, and Nickel Industries shares are charging higher
• Mineral Resources share price lifts on positive lithium project update
• Brokers name 3 ASX lithium shares to buy
• I shouldn’t have sold this ASX share two years ago: fund
• Possible lithium spinoff makes Mineral Resources share price undervalued: Credit Suisse

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 recommended Lovisa 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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