The Perpetual Limited (ASX: PPT) share price tumbled with the ASX 200 index on Monday.

The fund manager’s shares dropped over 3% to $27.25.

This means the Perpetual share price is now down 26% since the start of the year.

Broker tips Perpetual share price to bounce back strongly

The team at Bell Potter are positive on the fund manager and believe its shares could bounce back very strongly.

According to a note, the broker has retained its buy rating and lifted its price target on the company’s shares to $39.80.

Based on the current Perpetual share price of $27.25, this implies potential upside of 46% for investors over the next 12 months.

The broker is also forecasting a dividend yield of approximately 7.5% in FY 2023, stretching the total potential return beyond 50%.

What did the broker say?

Bell Potter is a fan of the company’s plan to acquire Pendal Group Ltd (ASX: PDL). It commented:

We believe the agreed acquisition of PDL is good news and should create a strong company with a wide product set and global distribution opportunities, which should drive growth over the next few years.

In addition, excluding the Pendal acquisition, the broker sees significant value in the Perpetual share price. Particularly after recent weakness. It concluded:

We value Perpetual (excluding Pendal) using DCF valuation, with a WACC of 10.0% applied to EBITDA after tax. This gives a value for the business of $2.3bn or $39.78 per share (which we round to $39.80 as a target price). This is 3.6% higher than our previous valuation of $38.40 per share. The 9.4% fall in the share price on August 25 following the [Pendal] announcement seems at odds with the strong trading and benefits of the merger, and we would see this recent weakness as a buying opportunity.

The post Why Bell Potter is tipping 46% upside for this beaten-up ASX 200 share 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

• The Pendal takeover will create a $200b asset manager, so why is the Perpetual share price tanking?
• Why City Chic, Flight Centre, Perpetual, and Woolworths shares are sinking
• Pendal share price soars 15% on takeover news
• Perpetual share price tumbles on full-year earnings and takeover news

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/ZSA0WzY

We’re almost at the end of reporting season, so it’s time to think about which ASX shares might have the best prospects after the flurry of numbers.

Morgans analyst Andrew Tang cast his eyes over the company results and has nominated six ASX stocks as his “best calls to action”:

• Wesfarmers Ltd (ASX: WES)
• Ramsay Health Care Limited (ASX: RHC)
• Universal Store Holdings Ltd (ASX: UNI)
• Peter Warren Automotive Holdings Ltd (ASX: PWR)
• Jumbo Interactive Ltd (ASX: JIN)
• Monash IVF Group Ltd (ASX: MVF)

A core holding for long-term investors

Tang liked ASX share Wesfarmers’ second-half “bounce back”.

“We continue to view Wesfarmers as a core portfolio holding for long-term investors,” he said on the Morgans blog.

“Kmart Group earnings recovered strongly in 2H22 after being heavily impacted by lockdowns in 1H22.”

In fact, the latest dividend exceeded all expectations.

“FY22 dividend per share of 180 cents was above our 164.8 cents per share forecast and Bloomberg consensus (169.5cps),” said Tang.

“Group return-on-equity rose 330 basis points to 29.4%.”

The takeover story isn’t done yet

Notwithstanding the KKR consortium’s takeover proposal falling over last week, the team at Morgans now rates Ramsay Health as a buy.

“Despite lingering volatility and FY24 a ‘normal’ trading year, it takes a back seat to KKR’s now revised offer, which we believe is likely to get up in some form,” said Tang.

“We have adjusted our FY23-24 earnings, rolled forward our valuation multiples, and maintained a takeout premium.”

Meanwhile Peter Warren’s enjoying an industry-wide sweet spot.

“Demand/supply imbalance continues to drive strong margin outcomes for the sector,” said Tang.

“Industry consolidation will continue — we expect Peter Warren to be a participant (primary growth driver), or even a potential target in time.”

The stock price remains cheap, the Morgans team reckons.

“Peter Warren is trading on ~7x FY23 PE and ~10x our assumed ‘more normalised’ conditions (FY24/25).”

Growth-a-thon for these two ASX shares

Lotteries resellers Jumbo Interactive reported a year of “solid growth”, according to Tang.

“The business continued to diversify its earnings base, with SaaS now making up nearly half of group EBITDA,” he said.

“We expect Jumbo Interactive to continue to achieve steady growth in the years ahead through a combination of organic contract wins, M&A and diversification.”

Tang has a positive outlook on clothing retailer Universal Store.

“We believe Universal will deliver double-digit growth in sales and earnings in FY23 as an expanded store network plays into the resilience of demand for fashion apparel from a young customer cohort experiencing high levels of employment, higher wages and more and more opportunities to go out and socialise.”

As such, the Universal share price is just too cheap to resist at the moment.

“The FY24F P/E is 10x, which we believe is far too low for a business with the quality and growth potential of Universal.”

The post 6 ASX shares Morgans would buy right now 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

• Leading brokers name 3 ASX shares to buy today
• Universal Store share price slides lower as earnings tighten in FY22
• 3 ASX All Ords shares that saw major price action on FY22 results
• Everything you need to know about the latest Wesfarmers dividend
• Ramsay share price plunges 4% after suitor withdraws takeover offer

Motley Fool contributor Tony Yoo 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 Jumbo Interactive Limited. The Motley Fool Australia has positions in and has recommended Wesfarmers Limited. The Motley Fool Australia has recommended Jumbo Interactive Limited and Ramsay Health Care Limited. 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/EeR8DZq

If you’re searching for dividend shares to buy, then the two listed below could be worth looking at.

Both have been named as buys by analysts recently and tipped to provide good yields. Here’s what you need to know:

Accent Group Ltd (ASX: AX1)

The first ASX dividend share that has been tipped as a buy is footwear focused retailer Accent.

While FY 2022 was a year that the company and shareholders will want to forget about quickly, the company’s medium to long term outlook remains as bright as ever. This is thanks to its strong brand portfolio and expansion strategy.

Analysts at Morgans are positive on the company. In response to its full year results, the broker upgraded its shares to an add rating with a $2.00 price target. It commented:

AX1’s renewed focus on selling at full price will, in our view, support a recovery in the gross profit margin in FY23 back towards historical averages. We welcome AX1’s moderation of the pace of its store rollout in favour of a more selective expansion strategy focused on return on investment. We see AX1 as undervalued at the current share price.

As for dividends, the broker is forecasting fully franked dividends of 9 cents per share in FY 2023 and 11 cents per share in FY 2024. Based on the current Accent share price of $1.53, this will mean yields of 5.9% and 7.2%, respectively.

Charter Hall Social Infrastructure REIT (ASX: CQE)

Another ASX dividend share for that has been tipped as a buy is Charter Hall Social Infrastructure REIT. It is a real estate investment trust that invests in social infrastructure properties.

It had another solid year in FY 2022, reporting an 8% increase in earnings per share earlier this month. And while this was a touch short of Goldman Sachs’ expectations, it hasn’t altered the broker’s bullish view on the company’s outlook.

As a result, Goldman has retained its buy rating with a $4.35 price target on its shares. The broker commented:

Although CQE’s result came in slightly below our expectations, we continue to believe the REIT is relatively well positioned given the sector’s positive fundamentals and CQE’s strong balance sheet, with headroom and liquidity to pursue investment opportunities

In addition, the broker is forecasting dividends per share of 17.3 cents in FY 2023 and 18 cents in FY 2024. Based on its current share price of $3.61, this will mean yields of 4.8% and 5%, respectively.

The post Analysts say these ASX dividend shares are buys right now 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

• Morgans names 2 ASX shares to buy post-results
• Leading brokers name 3 ASX shares to buy today
• Anaysts name 2 ASX dividend shares to buy next week
• Why Accent, Cochlear, Newcrest, and Santos shares are charging higher today
• Accent share price jumps despite 59% profit drop

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 recommended Accent Group. 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/HZWTFP9

On Monday, the S&P/ASX 200 Index (ASX: XJO) started the week with a day to forget. The benchmark index fell 1.95% to 6,965.5 points.

Will the market be able to bounce back from this on Tuesday? Here are five things to watch:

ASX 200 expected to rise

The Australian share market is expected to open the day higher on Tuesday despite a poor start to the week on Wall Street. According to the latest SPI futures, the ASX 200 is poised to open the day 16 points or 0.2% higher. On Wall Street the Dow Jones fell 0.6%, the S&P 500 dropped 0.7%, and the NASDAQ was down 1%.

Healius results

The Healius Ltd (ASX: HLS) share price will be on watch on Tuesday when the healthcare company releases its full year results. According to a note out of Citi, its analysts are expecting Healius to report a net profit after tax of $316 million. This is slightly ahead of consensus estimates of $308.9 million. However, it warned: “Near term weakness in the share price is possible through the FY22 result period as it becomes more obvious that PCR testing is permanently lower.”

Oil prices charge higher

It could be a great day for energy producers such as Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) on Tuesday after oil prices charged higher overnight. According to Bloomberg, the WTI crude oil price is up 4.15% to US$96.91 a barrel and the Brent crude oil price has risen 3.85% to US$104.88 a barrel. Traders were buying oil amid a conflict in Libya and speculation that OPEC will cut production if Iranian supply returns to the market.

Fortescue shares rated as a sell

The Fortescue Metals Group Limited (ASX: FMG) share price tumbled lower on Monday following the release of the mining giant’s full year results. Unfortunately, the team at Goldman Sachs expects more of the same in the future. This morning the broker has reiterated its sell rating and $12.10 price target. This implies potential downside of 36% for investors over the next 12 months. Goldman highlights that Fortescue is “trading at a premium to BHP & RIO; c. 1.7x NAV vs. RIO & BHP at c. 0.8x & 1.1x NAV.”

Gold price edges higher

Gold miners such as Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) will be on watch after the gold price edged higher overnight. According to CNBC, the spot gold price is up slightly to US$1,750.30 an ounce. Gold recovered from a one-month low after US dollar softened.

The post 5 things to watch on the ASX 200 on Tuesday 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

• What’s going on with the Santos share price today?
• Why is the Rio Tinto share price having such a lousy start to the week?
• How does the BHP dividend stack up against the latest Fortescue payment?
• Everything you need to know about the trimmed-down Fortescue dividend
• Hoping to bag the next Evolution Mining dividend? Here’s what to do

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/V60mBJS

The RPMGlobal Holdings Ltd (ASX: RUL) finished the day 4.78% in the red at $1.495 following the release of its FY22 results.

Trading volume was more than 5x higher than the 4-week average today at 1.315 million shares, suggesting investors sold positions en masse during the session.

RPMGlobal grows revenue in all areas

Key takeouts from the company’s results include:

• Revenue grew 20% year on year to $84.1 million
• Advisory revenue saw a $9.1 million growth on FY21’s result
• Software Consulting revenue increased by $1.3 million over the 12 months
• Net operating revenue was stronger and grew 18% from the previous year
• FY22 EBITDA of $4.5 million, down from FY21’s result of $5.5 million
• Loss after tax of $4.1 million, down from a loss of $5.1 million the year prior

What else happened last period for RPMGlobal?

Growth was strong across all operating segments for the company in terms of revenue. Net operating revenue also grew 18% year on year.

This came down to a net loss after tax of $4.1 million, ahead of last year’s result of a $5.5 million loss.

The company also booked a $1.1 million loss from closure and one-off M&A costs associated with the conflict in Ukraine.

As at 30 June 2022, RPMGlobal also had $95.5 million in pre-contracted, non-cancellable software
subscription revenue.

This is up $29.8 million from the same time a year earlier from $65.7 million.

Management commentary

In his directors report to shareholders, RPMGlobal chairman, Stephen Baldwin said:

At a time when other software vendors to the mining industry were reducing their software investments due to the impacts of COVID, RPM once again increased its research and development spend by an additional $3.3 million to accelerate its transition towards being a “software as a service” company.

This investment continues to open new opportunities for the company, while enabling us to provide a more comprehensive service offering to our customers.

What’s next for RPMGlobal?

The company projects FY23 total revenue to be in the range of $101 million and EBITDA to be $14.2 million.

“For the fourth year in a row, RPM will set a new software sales record for the company,” RPMGlobal announced.

This is backed by a flattening of software expenditure in the coming 12 months. The company finalised:

With our transition from perpetual to subscription license sales completed, the operating leverage provided by the $95.5 million in precontracted software subscriptions will now start to flow through into the company’s financials.

RPMGlobal share price snapshot

Over the past 12 months, the RPMGlobal share price has fallen 22%.

The post RPMGlobal share price dips despite 20% revenue surge 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

• 3 ASX All Ords shares tumbling lower following full-year results
• The BrainChip share price has dumped 30% in a month. What’s happening?
• This ASX All Ords share flew higher on a 230% profit boost
• Here are the top 10 ASX 200 shares today
• Why did the Lake Resources share price plunge 10% today?

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 positions in and has recommended RPMGlobal Holdings. The Motley Fool Australia has recommended RPMGlobal Holdings. 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/3LsqPdC

Monday was not the start to the week that investors were probably hoping for. By the time the closing bell belted out its chime, the S&P/ASX All Ords Index (ASX: XAO) had taken a 2% beating to the downside.

Not even the release of earnings reports could stir up excitement for many ASX shares. In fact, in some cases, it had the opposite effect. For some companies, the results weren’t sufficiently up to scratch to prevent shareholders from hitting the ‘sell’ button.

Here are three ASX All Ords shares that fell into the negative following their FY22 results today.

These ASX All Ords shares failed to impress

Impedimed Limited (ASX: IPD)

The market shaved 4.2% off the Impedimed share price on Monday to finish at 6.8 cents per share. It seems a 26% increase in revenue to $10.6 million in FY22 wasn’t enough to satisfy shareholders. The medical device company derived $9.9 million of its total revenue from its SOZO platform.

Notably, Impedimed now has involvement with 16 of the top 25 integrated delivery networks. However, the focus might have been on the company’s continuing cash burn.

In FY22, Impediment chewed through $15.7 million operationally. Although, $42.5 million was added to the balance sheet through the issuing of new shares.

Objective Corporation Limited (ASX: OCL)

Another ASX All Ords share to suffer at the hands of the market today was Objective Corporation. The software company revealed a solid result for the 12-month period, posting gains across all key financial metrics. Yet, the Objective share price was sold down 4.24% to $15.80 apiece.

The company put up a respectable 12% increase in revenue, reaching $106.5 million in FY22. Meanwhile, net profit after tax (NPAT) grew at an even faster pace, up 31% to $21 million. In addition, dividends lifted 22% to 11 cents per share.

Race Oncology Ltd (ASX: RAC)

Finally, Race Oncology makes up the red trifecta of ASX All Ords shares in this list. The $335 million oncology treatment developer failed to attract buyers on Monday despite remarkable top-line growth.

According to its results, Race notched up revenue by a staggering 186% compared to the prior year. In turn, the company generated $53.9 million of revenue from ordinary activities. However, this was paired with widening losses on the bottom line. Total losses expanded to $11.2 million for the 12-month period compared to $6.3 million in FY21.

The Race Oncology share price finished at $2.03, down 2.9% for the day.

The post 3 ASX All Ords shares tumbling lower following full-year results 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

• Top brokers name 3 ASX shares to buy next week
• Goldman Sachs just slapped a buy rating on this ASX tech share

Motley Fool contributor Mitchell Lawler 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 Objective Corporation Limited. 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/ovjalwi

The BrainChip Holdings Ltd (ASX: BRN) share price closed the session down 6.38% on Monday on no news from the company.

Shares in the artificial intelligence technology developer finished at 88 cents each today.

Despite posting a nearly 530% increase in revenue in its H1 FY22 results last week, investors haven’t been keen to nibble at the company’s current share price.

In fact, as seen on the chart below, BrainChip has traded sideways for a good portion of 2022.

What’s up with the BrainChip share price?

Revenue for the six months to 30 June 2022 came in at A$7 million, up 529% year on year.

However, further down the balance sheet, it wasn’t so rosy. Operating losses were down just 1% to A$12.35 million whereas the company still printed a loss per share of 66 cents.

As reported by colleague Matthew Farley at the time, “[a]nother item that grew considerably [in H1 FY22] was its share-based payment expenses, swelling 128% to AU$5.27 million”.

The company attributed the rise to equity issued to directors and employees.

The recent drop for BrainChip has occurred in lockstep with a pullback in the S&P/ASX All Technology Index (ASX: XTX), down nearly 3% in the past month.

Zooming out, however, BrainChip shares remain buoyant, up 29% year to date and 81% higher over the past 12 months.

Also, when looking at the chart above, the downside for BrainChip is hardly out of sync with what the share has been displaying over the past eight or nine months.

Technology shares have caught a bid in recent months with more stable yields on government bonds, yet remain volatile.

With talks of a global recession resurfacing, what this means for the BrainChip share price looking ahead remains to be seen.

The post The BrainChip share price has dumped 30% in a month. What’s happening? 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

• BrainChip share price up on 529% revenue surge
• Why did the BrainChip share price slump today?
• When is ASX tech share BrainChip expected to become profitable?
• Why is the BrainChip share price sinking today?
• Here are the top 10 ASX 200 shares today

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/fWJ9ISl

The Om Holdings Limited (ASX: OMH) share price lifted today amid a huge jump in profit.

The manganese and silicon smelting company’s share price lifted 7.46% to 72 cents. In contrast, the
All Ordinaries Index (ASX: XAO) dropped 2.07% today.

Let’s take a look at what this ASX All Ords share reported to the market.

Om Holdings net profit surges

Highlights of Om Holdings’ half-year results include:

• Net profit after tax (NPAT) exploded 231% on H121 to US$60 million
• Earnings per share lifted nearly 268% from 1.82 cents to 6.69 cents
• Revenue of US$466.7 million, up 35% on H121
• Earnings before interest, tax, depreciation and amortisation (EBITDA) surged 114.8% to US$104.6 million
• Consolidated cash lifted to US$82.8 million

What else did this ASX All Ords share report?

Om Holdings achieved a gross profit margin of 27.7% in the first half of 2022, up from 19% in H121.

The company’s revenue and gross profit margins were higher despite fewer products being sold compared to H121.

Underpinning the strong financial result was stronger prices for manganese ores, ferrosilicon and silicomanganese alloys.

The company also reduced its debt to equity ratio from 0.67 times at 31 December last year to 0.54 at 30 June.

The company’s OM Sarawak smelter is forecast to produce between 340,000 to 360,000 tonnes of ferroalloys by the end of the year.

Management commentary

Commenting on the results, CEO and executive chairman Low Ngee Tong said:

I would like to commend and thank all staff, especially our team on the ground in Sarawak, on delivering an outstanding set of results for the first 6-months of 2022.

Despite pandemic related workforce challenges and the fluid working environment in a year of furnace conversion and major maintenance, we have delivered operationally and the Group has been able to post very robust financial results.

Om Holdings share price snapshot

The Om Holdings share price has surged more than 15% in the past 12 months, but it has lost 20% year to date.

For perspective, the All Ordinaries Index has fallen 7.3% in the past year and 7.53% year to date.

Om Holdings has a market capitalisation of about $531.8 million based on the current share price.

The post This ASX All Ords share flew higher on a 230% profit boost 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

• The BrainChip share price has dumped 30% in a month. What’s happening?
• Here are the top 10 ASX 200 shares today
• Why did the Lake Resources share price plunge 10% today?
• Guess which ASX iron ore share leapt 6% on ‘outstanding returns for shareholders’. Hint: not Fortescue
• What’s going on with the Santos share price today?

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

from The Motley Fool Australia https://ift.tt/LVgH2Gk

It was a rough start to the week for the S&P/ASX 200 Index (ASX: XJO), with the index recording its worst session since June. Indeed only four ASX 200 shares finished in the green today. The index closed 2.06% lower at 6,957.60 points.

It followed a disastrous Friday on Wall Street that saw the S&P 500 Index (SP: .INX) slip 3.4% and the Dow Jones Industrial Average Index (DJX: .DJI) dump 3%. Meanwhile, the tech-heavy Nasdaq Composite Index (NASDAQ: .IXIC) fell 3.9%.

Perhaps unsurprisingly then, the S&P/ASX 200 Information Technology Index (ASX: XIJ) was today’s worst performing sector. It fell 4.4%.

The S&P/ASX 200 Materials Index (ASX: XMJ) came in as the second worst performing sector, with a 2.4% drop. That’s despite iron ore futures lifting 0.4% to US$105.38 a tonne on Friday while gold futures slumped 1.2% to US$1,749.80 an ounce. However, Singapore iron ore futures fell as much as 4.4% today to US$101.15, The Australian reports.

And new data from the Australian Bureau of Statistics finding retail turnover lifted 1.3% in July wasn’t enough to boost consumer shares today. The S&P/ASX 200 Consumer Staples Index (ASX: XSJ) fell 0.9% while the S&P/ASX 200 Consumer Discretionary Index (ASX: XDJ) slumped 2.1%.

Indeed, all of the ASX 200’s 11 sectors closed lower today. Nonetheless, four shares managed to record gains, while plenty of others outperformed the broader market.

Top 10 ASX 200 shares countdown

Today’s best performing ASX 200 share was none other than A2 Milk Company Ltd (ASX: A2M). It gained 10% as the company posted a 42.3% year-on-year net profit after tax (NPAT) gain for financial year 2022 and announced an on-market buyback.

While the market can’t boast 10 gainers, today’s top performances were put on by these ASX shares:

ASX-listed company	Share price	Price change
A2 Milk Company Ltd (ASX: A2M)	$5.40	9.98%
Adbri Ltd (ASX: ABC)	$2.23	2.76%
APA Group (ASX: APA)	$11.28	0.71%
Atlas Arteria Group (ASX: ALX)	$7.93	0.13%
Cromwell Property Group (ASX: CMW)	$0.79	0%
Nanosonics Ltd (ASX: NAN)	$4.13	0%
Transurban Group (ASX: TCL)	$13.89	0%
Viva Energy Group Ltd (ASX: VEA)	$2.95	0%
Whitehaven Coal Ltd (ASX: WHC)	$7.96	-0.13%
Insurance Australia Group Ltd (ASX: IAG)	$4.59	-0.22%

Our top 10 ASX 200 shares countdown is a recurring end-of-day summary to let you know which companies were making big moves on the day. Check in at Fool.com.au after the weekday market closes to see which stocks make the countdown.

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

(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 A2 Milk, Lovisa, McMillan Shakespeare, and Tyro are storming higher
• Everything you need to know about the latest A2 Milk share buyback
• A2 Milk share price soars 8% as company regains money-making mojo
• These are the 10 most shorted ASX shares
• 2 excellent ASX dividend shares with big yields that analysts rate as buys

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Nanosonics Limited. The Motley Fool Australia has positions in and has recommended APA Group, Insurance Australia Group Limited, and Nanosonics Limited. The Motley Fool Australia has recommended A2 Milk. 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/FWBwj56

The Lake Resources NL (ASX: LKE) share price slipped deep into the red in afternoon trade on Monday.

At the close of trade, Lake Resources shares finished 10.13% down at $1.07 apiece on no news.

In broad market moves, the S&P/ASX 300 Metals and Mining Index (ASX: XMM) also finished the day down, 2.42% lower.

What’s up with the Lake Resources share price?

Lake shareholders have been on a rollercoaster journey these past three months, as seen in the chart below.

Prices have swung from highs of $1.66 in June to lows of 60.5 cents by 15 July, back up to highs of $1.59 on 11 August.

Now, investors have pushed the Lake Resources share price back down to its current ranges. And just last week, we noted the share had surged 75% in the past month of trade.

As to reasons for the downside today, lithium pricing certainly wasn’t to blame. Lithium carbonate remains up 336% year on year and is up nearly 3.5% over the past month.

The metals and mining industry caught a sell today, however. As mentioned above, the benchmark metals and mining index is down 2.42%, signalling a heavy sell-off in the basket today.

Moreover, recent earnings posted by fellow lithium player Pilbara Minerals Ltd (ASX: PLS) also pointed to pricing strengths within the lithium market.

Not to mention, that the United States Congress’ recent Inflation Reduction Act effectively “extends tax breaks for new electric vehicle purchases,” per Trading Economics.

“On the supply side, the energy crisis in China brought by record-setting heat waves led multiple lithium producers in Sichuan to suspend operations, adding to the upside of soaring lithium costs in the near-term,” it added.

Alas, the Lake Resources share price continues its decline of recent weeks.

Despite this, it remains up more than 94% over the past 12 months of trade.

The post Why did the Lake Resources share price plunge 10% 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(“#43B02A”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#43B02A”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Why is the Novonix share price tumbling 6% on Monday?
• These are the 10 most shorted ASX shares
• Guess which little-known ASX lithium share has surged 75% in the past month
• Could Pilbara’s inaugural profit signal good times ahead for ASX lithium shares?
• Here are the 3 most heavily traded ASX 200 shares on Tuesday

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/ql5bpoS