The Mineral Resources Limited (ASX: MIN) share price lifted today amid a broker upgrade.

The ASX materials share climbed 1.08% to close at $61.56. In contrast, the S&P/ASX 200 Index (ASX: XJO) fell 0.95% today.

So what is the outlook for Mineral Resources?

Broker lifts price target

Mineral Resources shares lifted slightly today following a broker upgrade.

The Macquarie Group Ltd (ASX: MQG) has boosted the price target on Mineral Resources’ share price to $95 per share. This is 54% more than the current share price.

Analysts have also provided optimism on lithium prices and EV sales. Analysts at Macquarie said “we upgrade the medium-term lithium carbon and hydroxide price outlook”.

Macquarie predicted prices of lithium to “stay high for longer”, adding:

We also lift our regional lithium price forecasts to match the pricing strength in China.

Further, Macquarie predicted electric vehicle (EV) sales to “grow strongly” in 2022, despite the cost of batteries lifting.

Analysts predict EV sales to grow to 10 million this year, more than 50% compared to the previous year.

Macquarie also tipped the share prices of ASX lithium shares Pilbara Minerals Ltd (ASX: PLS), Allkem Ltd (ASX: AKE) and Liontown Resources Ltd (ASX: LTR) to lift.

Mineral Resources share price snapshot

The Mineral Resources share price has risen nearly 21% in the past year, while it has climbed nearly 10% year to date.

In the past month, the company’s share price has soared nearly 30%.

Mineral Resources has a market capitalisation of about $11.7 billion based on the current share price.

The post Mineral Resources share price rises as Macquarie tips 54% upside appeared first on The Motley Fool Australia.

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More reading

• Why these ASX lithium shares are outperforming the market today
• Top brokers name 3 ASX shares to buy next week
• Why has the Mineral Resources share price surged 40% in a month?
• Do any ASX lithium shares pay dividends?
• Analysts name 2 ASX dividend shares to buy next week

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

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The Altium Limited (ASX: ALU) share price will be one to watch on Tuesday morning.

This is because the electronic design software company has released its full year results for FY 2022 after the market close.

Altium share price on watch following after smashing expectations

• Revenue up 23% year over year to US$220.8 million
• Recurring revenue up 31% and now 75% of total revenue
• EBITDA margin up 2.4 percentage points to 36.7%
• Net profit after tax up 57% to US$55.5 million
• Final dividend of 26 Australian cents
• Outlook: Revenue growth of 15% to 20% in FY 2023

What happened in FY 2022?

For the 12 months ended 30 June, Altium reported a 23% increase in revenue to US$220.8 million. This was driven by a 12% increase in revenue from the Altium PCB business to US$169.3 million and record Octopart revenue growth of 85% to US$50 million.

The Altium PCB business was boosted by strong adoption for its Altium 365 offering. It ended the period with almost 24,700 monthly active users, up from 19,700 at the end of February. Whereas the Octopart search engine business was given a major lift by the global parts shortage.

This ultimately underpinned stronger than expected margins, which led to Altium’s profits growing at an impressively quicker rate of 57% to US$55.5 million.

This allowed the company to declare a final dividend of 18 Australian cents per share, bringing its full year dividend to 47 Australian cents per share. This represents an 18% increase year over year.

How does this compare to expectations?

The good news for the Altium share price tomorrow is that this result appears to have smashed expectations.

Altium was guiding to revenue of US$213 million to US$217 million and an EBITDA margin at the lower end of 34% to 36%. Whereas it delivered revenue of US$220.8 million and an EBITDA margin of 36.7%.

Furthermore, according to a note out of Bell Potter, its analysts were expecting a net profit result in line with consensus estimates at US$47.7 million. Altium’s profit of US$55.5 million was notably higher than this.

Management commentary

Altium’s CEO, Aram Mirkazemi, was rightfully pleased with the company’s performance in FY 2022. He said:

Altium delivered a strong financial performance for fiscal 2022 supported by a record performance from our Octopart business and solid growth from our Electronic Design Software business. Octopart is the market leader in electronics parts search and benefitted from the global parts shortage which we expect to continue for some time into the new financial year.

Altium Digital Sales has increased efficiency and has achieved a higher realized price, with minimal discounting. Additionally, we are getting a lift as our higher end enterprise grade capabilities gain mainstream adoption.

Outlook

Also potentially giving the Altium share price a lift tomorrow will be its outlook commentary.

Management appears very positive on its prospects in FY 2023 and is guiding to:

• Revenue of US$255 million to US$265 million (15% to 20% growth)
• Underlying EBITDA margin of 35% to 37%

Altium’s revenue growth is expected to be driven by strong performances across the business. It expects Electronic Design Software revenue of US$195 million to US$200 million (15% to 18% growth) and Engineering Cloud Platform revenue of US$60 million to US$65 million (20% to 30% growth).

The post Altium share price on watch after smashing guidance in FY22 appeared first on The Motley Fool Australia.

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More reading

• Broker names 2 ASX growth shares to buy this week
• Here are the top 10 ASX 200 shares today
• Better ASX tech buy: Xero or Altium?
• 2 stellar ASX 200 shares that brokers rate as buys
• How did the Altium share price respond last earnings season?

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Altium. 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) had a rough start to the week, but plenty of shares managed to buck its downwards trend. The Index closed Monday’s session 0.95% lower at 7,046.90 points.

The S&P/ASX 200 Consumer Discretionary Index (ASX: XDJ) came in as the ASX 200’s worst performing sector, falling 1.9% as Star Entertainment Group Ltd (ASX: SGR) released its full-year earnings.

The S&P/ASX 200 Information Technology Index (ASX: XIJ) also fell 1.5% following a dire Friday on Wall Street that saw the Nasdaq Composite Index (NASDAQ: .IXIC) slump 2%.

Meanwhile, the S&P/ASX 200 Energy Index (ASX: XEJ) slipped 0.9% despite rising oil prices and a strong gain from Ampol Ltd (ASX: ALD). The company dropped its half-year earnings today.

The Brent crude oil price rose 0.1% to US$96.72 a barrel on Friday while the US Nymex crude oil price lifted 0.3% to US$90.77 a barrel.

All in all, none of the ASX 200’s 11 sectors finished Monday’s session in the green.

Still, a few outliners recorded notable gains. Let’s take a look at today’s top performing ASX 200 share.

Top 10 ASX 200 shares countdown

Today’s top performing ASX 200 share was – drum roll please – NIB Holdings Limited (ASX: NHF). The stock lifted 7% after the company dropped its full-year earnings.

Coming in second place was EML Payments Ltd (ASX: EML) on the back of – you guessed it – the release of its earnings, as well as news of an on-market share buyback.

Today’s biggest gains were made by these ASX shares:

ASX-listed company	Share price	Price change
NIB Holdings Limited (ASX: NHF)	$7.78	7.02%
EML Payments Ltd (ASX: EML)	$1.125	6.13%
Pilbara Minerals Ltd (ASX: PLS)	$3.17	3.93%
Telix Pharmaceuticals Ltd (ASX: TLX)	$6.49	2.53%
Whitehaven Coal Ltd (ASX: WHC)	$7.54	2.45%
Kelsian Group Ltd (ASX: KLS)	$6.52	2.35%
Ampol Ltd (ASX: ALD)	$34.92	2.28%
Chorus Ltd (ASX: CNU)	$7.15	2.14%
Medibank Private Ltd (ASX: MPL)	$3.71	1.64%
Viva Energy Group Ltd (ASX: VEA)	$2.81	1.44%

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

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

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More reading

• 3 ASX mining shares that went gangbusters on Monday
• Up 41% in a year, is it too late to buy Graincorp shares in 2022?
• Here are the 3 most heavily traded ASX 200 shares on Monday
• Why is the BetaShares NASDAQ 100 ETF having such an awful start to the week?
• The NAB share price is trading on a 4.6% dividend yield right now. How does this compare to other banks?

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 EML Payments. The Motley Fool Australia has positions in and has recommended EML Payments. The Motley Fool Australia has recommended NIB Holdings Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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Three ASX mining shares shot higher on Monday with some recording gains of more than 30%

Their rallies came despite the S&P/ASX 300 Metals and Mining Index (ASX: XMM) closing 0.75% lower today. Meanwhile, the S&P/ASX 200 Materials Index (ASX: XMJ) also lost ground today, down almost the same amount at 0.77%.

More broadly, the S&P/ASX 200 Index (ASX: XJO) closed 0.95% lower on Monday.

Let’s see which mining shares defied the market’s sluggishness today.

Cobre Ltd (ASX: CBE)

The Cobre Ltd share price closed 34.44% higher today. Shares of the copper and base metals exploration company finished the day at 60.5 cents each after hitting a high of 73 cents in midday trading. That was a 62% jump on Friday’s closing price of 45 cents a share.

No news came from Cobre today to account for the massive price rally. In fact, the company’s most recent announcement came on Thursday last week. At that time, Corbe said it had received a renewal for five exploration licenses from the Department of Mines in Botswana. The price of copper also recorded a small gain today, up 0.69%, according to Markets Insider.

Anson Resources Ltd (ASX: ASN)

Anson Resources was another ASX mineral explorer share that skyrocketed on Monday. The company’s share price finished the day at 20 cents, a 38% jump, after hitting a high of 21 cents in afternoon trading.

Today, Anson Resources announced a major resource upgrade for its Paradox lithium project. The company said a “new discovery” led to the upgrade, accounting for 788,300 tons of lithium carbonate and 3.523 metric tonnes of bromine. These reflect a 324% increase in previously reported lithium reserves and a 248% increase in bromine reserves. The materials were discovered in the Long Canyon Unit 2 well in Utah in the US.

Iris Metals Ltd (ASX: IR1)

Finally, the Iris Metals share price closed 9% higher today at 84.5 cents. Earlier today, the company’s shares hit a high of 95 cents each. That represented a gain of 22.6% on Friday’s closing price of 77.5 cents a share.

There was no news out of Iris Metals today. However, the company’s share price may have been riding the momentum of an announcement last Thursday. In an update to the ASX, the company claimed to be the largest holder of lithium claims in the US state of South Dakota. The total number of the company’s claims now stands at 2056, covering an area of 171.12 square kilometres. 

The post 3 ASX mining shares that went gangbusters on Monday appeared first on The Motley Fool Australia.

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More reading

• Here are the top 10 ASX 200 shares today
• Up 41% in a year, is it too late to buy Graincorp shares in 2022?
• Here are the 3 most heavily traded ASX 200 shares on Monday
• Why is the BetaShares NASDAQ 100 ETF having such an awful start to the week?
• The NAB share price is trading on a 4.6% dividend yield right now. How does this compare to other banks?

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

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It’s been a fairly disappointing start to the trading week this Monday for the S&P/ASX 200 Index (ASX: XJO). At the time of writing, the ASX 200 has fallen by 0.9% to just over 7,050 points. But it’s been even worse for the Newcrest Mining Ltd (ASX: NCM) share price.

Newcrest shares have had a shocker today. The ASX 200 gold miner has fallen a painful 4.9% so far this Monday to $18.40 a share at present. But Newcrest dropped as low as $18.38 just after midday as well.

Not only is that low watermark a new 52-week low for Newcrest. But it’s also the lowest share price the gold miner has touched in almost six years.

So what on earth has prompted Newcrest shares to such a dire start to the week?

Well, it would be tempting to blame the earnings report for FY22 that Newcrest dropped last Friday.

As we covered at the time, Newcrest reported a 25% drop in underlying profits to US$872 million. Earnings before interest, tax, depreciation, and amortisation (EBITDA) also fell 16% to US$2.054 billion, while gold production dipped 7% to 1,956 million ounces.

All of this led to a fall in earnings per share (EPS) of 27% and a halving of Newcrest’s final dividend to 20 US cents.

Gold doesn’t glitter for the Newcrest share price

But it’s rather difficult to blame today’s share price woes on this less-than-inspiring earnings report. That’s because last Friday when the report was released (pre-market), Newcrest shares ended up finishing the day by rising 3.64%.

So it’s more likely that the… panning that Newcrest shares are enduring today has more to do with the price of gold itself. The yellow metal has been out of favour for a while now. And, as my Fool colleague James reported this morning, gold had a torrid end to the last week on the US markets:

…the spot gold price was down 0.6% to US$1,760.30 an ounce. A strong US dollar put pressure on the precious metal last week, leading to five daily declines out of five. This is its longest losing run since November.

So this is probably why we are seeing such pain in the Newcrest share price this Monday. Not that it’s just Newcrest that is suffering. Its fellow gold mining peer Northern Star Resources Ltd (ASX: NST) has shed 2.72% today to $7.51 a share.

Gold Road Resources Ltd (ASX: GOR) has lost 3.5%, while Perseus Mining Limited (ASX: PRU) has dipped 2.7%.

So not a great start to the trading week for ASX gold shares all around.

At the current Newcrest Mining share price, this ASX 200 gold share has a market capitalisation of $16.4 billion, with a dividend yield of 2.16%.

The post Why did the Newcrest share price just slump to a 6-year low? appeared first on The Motley Fool Australia.

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More reading

• 5 things to watch on the ASX 200 on Monday
• Here are the top 10 ASX 200 shares today
• Why Accent, Cochlear, Newcrest, and Santos shares are charging higher today
• Everything you need to know about the latest Newcrest dividend
• Newcrest share price lifts despite profit falling 25%

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

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The Piedmont Lithium Inc (ASX: PLL) share price is crashing back down to earth after rocketing 85% in the past month.

At the time of writing, shares in the Australian lithium miner are down 10% to 81 cents.

Despite the heavy fall, its shares are still up 48% in a month.

Let’s look at what could be driving the fall in the company’s share price.

What’s happened to Piedmont shares?

Investors are offloading Piedmont shares in droves following a mixed session across the lithium space.

Shares in Sayona Mining Ltd (ASX: SYA) and Lake Resources NL (ASX: LKE) are up 2.78% and 1.65%, respectively.

However, other lithium shares such as Global Lithium Resources Ltd (ASX: GL1) and Li-S Energy Ltd (ASX: LIS) are down 6.56% and 5.39%, respectively.

Piedmont hasn’t reported anything today that would explain why its shares have fallen so sharply.

However, given the sudden acceleration in the past month, there were a few indicators that its shares were overbought.

For example, the relative strength index (RSI) touched 82 on 17 August – just before sellers swung into action.

The RSI is a momentum oscillator that is used to assess the strength or weakness of a share price. Normal levels range between 30 and 70, but anything outside this tells us if the share price is cheap or expensive.

Furthermore, the Piedmont share price was outside the Bollinger Bands. This works well in conjunction with the RSI, which gives oversold or overbought signals of the share.

Piedmont share price summary

Despite the recent fall, the Piedmont share price is up 10% in 2022.

When looking at the longer term, the company’s shares are ahead by 18% over the past 12 months.

For context, the S&P/ASX 200 Index (ASX: XJO) has tumbled 5% in 2022, and since this time last year.

Based on today’s price, Piedmont presides a market capitalisation of roughly $474.81 million.

The post Why is the Piedmont Lithium share price plunging 10% today? appeared first on The Motley Fool Australia.

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More reading

• Why are ASX lithium shares having such a cracking start to the week?
• Why is the Piedmont Lithium share price rocketing 15% on Monday?
• Why is the Piedmont Lithium share price off to such a great start in August?
• Why are ASX lithium shares having such a top run on Wednesday?
• Why is the Piedmont Lithium share price piling on 6% today?

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

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The Bitcoin (CRYPTO: BTC) price has edged up 1% over the past few hours. Yet the world’s original crypto is down 13% since this time last week, currently trading for US$21,463 (AU$31,131).

Meanwhile, Ethereum (CRYPTO: ETH), the world’s number two token by market cap, has tumbled 19% over the seven days, according to data from CoinMarketCap. Ether is currently trading for US$1,605.

That’s a far different story than we saw playing out in July.

Last month BTC gained 22% while the Ethereum price rocked 56% higher.

Which begs the question, is the Bitcoin price rally and broader crypto charge over?

Why is the Bitcoin price in retreat?

After posting a strong run from mid-June through mid-August, part of the past week’s price falls are likely due to some near-term profit taking.

A larger part of the retreat comes from the renewed risk-off sentiment among global investors. This follows on last week’s release of the minutes from the US Federal Reserve, which reiterated the central bank’s intentions to continue lifting interest rates until it gets soaring inflation under control

The Bitcoin price has moved very much in tangent with risk assets in 2022, though often with bigger ups and downs than witnessed with growth shares.

With investors re-evaluating the prospect of sharply higher rates, the tech-heavy NASDAQ closed down 2% on Friday. That put the index down 2.7% for the week after a lengthy stretch of gains.

That doesn’t necessarily mean the Bitcoin price won’t rally higher again. But so long as other risk assets are floundering, cryptos will have a hard time recouping their former highs.

All-time highs

It’s easy to forget that both of the world’s top two cryptos were trading at all-time highs just nine short months ago.

The Bitcoin price hit record highs of US$68,790 on 10 November 2021. It’s down 69% from that high water mark.

As for Ethereum, it reached its own apex on 16 November, trading for US$4,892. Ether has dropped 68% from those highs.

The post Cryptos retreat. Is the Bitcoin price rally over? appeared first on The Motley Fool Australia.

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• 3 cryptos I would regret not buying on the dip
• This company profited $2.6 billion from crypto. What is it investing in now?
• 2 cryptos that could lead the market recovery
• Why Bitcoin, Ethereum, and Dogecoin are slumping today
• This is why Ethereum has been outpacing the Bitcoin price gains. Will it last?

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 positions in and has recommended Bitcoin and Ethereum. The Motley Fool Australia has positions in and has recommended Bitcoin and Ethereum. 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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Graincorp Ltd (ASX: GNC) shares have been among some of the strongest performers on the S&P/ASX 200 Index (ASX: XJO) over the past year.

Since 23 August 2021, Graincorp shares have gained 41%, while the S&P/ASX 200 Index (ASX: XJO) is down 6% over the 12 months.

And today marks another day of outperformance for the integrated grain and edible oils business, with shares up 0.7% to $8.61, as the ASX tumbles 0.86%.

Even with the big share price gains, Graincorp’s trailing dividend yield remains at a healthy 2.6%, fully franked.

But after such a strong run, is it too late to buy Graincorp shares in 2022?

Food prices join energy prices in shooting higher

It’s not just energy prices that have gone through the roof this year. Grains and most food prices have shot higher as well.

Part of those price hikes are linked to higher energy costs, as most farming requires a fair bit of energy input, even before the final, processed products need to be transported to market.

Russia’s invasion of Ukraine also contributed to fast-rising prices. While Ukraine is again exporting grain, the levels are far below the five to six million tonnes the nation was exporting before the war.

Higher grain prices and people’s need to keep eating should continue to offer tailwinds for Graincorp shares.

Saxo Bank’s country head of direct sales David Harvie is bullish on the outlook for the company.

Speaking to my Fool colleague Mitchell Lawler in Brisbane last week, Harvie said that the ASX agriculture share is one both he and Saxo like the look of.

“I’ll always start with the fundamentals,” he said. “And that’s why from an investment standpoint, I’d probably pick something like a Graincorp. That thematic of food requirement and surety of production over time.”

Graincorp shares lifted by upgraded guidance

Earlier this month, Graincorp shares got a big lift after the company upgraded its earnings guidance for the period ending 30 September.

The company’s new forecast envisions earnings before interest, taxes, depreciation, and amortisation (EBITDA) in the range of $680 million-$730 million, up from previous guidance of $590 million-$670 million.

Graincorp also increased its net profits after tax (NPAT) guidance from $365 million-$400 million, up from the previous guidance of $310 million-$370 million.

The post Up 41% in a year, is it too late to buy Graincorp shares in 2022? 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
• Why is the BetaShares NASDAQ 100 ETF having such an awful start to the week?
• The NAB share price is trading on a 4.6% dividend yield right now. How does this compare to other banks?
• 3 ASX 200 shares trading ex-dividend today
• 3 tips for surviving a recession, according to Warren Buffett

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

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The S&P/ASX 200 Index (ASX: XJO) has careened out of bed on the wrong side it seems, giving investors a depressing start to the trading week. At the time of writing, the ASX 200 has lost a meaty 0.92%, down to just over 7,040 points. 

But rather than trying to figure all of that out, let’s instead check out the shares currently making their presence known on the ASX 200’s share trading volume charts, according to investing.com.

The 3 most traded ASX 200 shares by volume this Monday

Core Lithium Ltd (ASX: CXO)

The first ASX 200 share up today is lithium stock Core Lithium. So far this Monday, a sizeable 13.82 million Core Lithium shares have traded hands as it currently stands. There’s been no news or announcements out of Core Lithium today at all.

So this elevated trading volume might have something to do with the movements of the company’s share price itself. Core has shed a weighty 2% of its value so far today and is back down to $1.37 a share.

Pilbara Minerals Ltd (ASX: PLS)

Our next ASX 200 share up this Monday is another lithium stock in Pilbara Minerals. At this point in time, we’ve seen a notable 17.58 million Plbara shares swap owners on the ASX boards.

With again no news out of this company, it looks as though we have some more share price movements to thank for this volume. Fortunately for investors, it’s going in the right direction for Pilbara, with the lithium producer up a healthy 3.3% at $1.25 a share. My Fool colleague Brendon looked deeper into these moves this afternoon.

Telstra Corporation Ltd (ASX: TLS)

Finally today we have ASX 200 telco Telstra. This Monday has seen a hefty 20.04 million Telstra shares exchanged on the markets thus far. This could be a consequence of Telstra’s market-defying moves today.

At present, the telecom company has gained another 0.85% to $4.16 a share, the highest the telco has traded since early January. It’s probably this solid performance that has elicited the high volumes we are witnessing.

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

• Down 16% in a week, what’s next for the Core Lithium share price?
• Why is the BetaShares NASDAQ 100 ETF having such an awful start to the week?
• Looking to buy Telstra shares? Here’s how the telco’s results stack up against TPG’s
• The NAB share price is trading on a 4.6% dividend yield right now. How does this compare to other banks?
• 3 ASX 200 shares trading ex-dividend today

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

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It is an underwhelming start to the week for the Core Lithium Ltd (ASX: CXO) share price. However, the lithium explorer is not the only ASX lithium share facing a deterioration in sentiment on Monday.

In afternoon trading, shares in Core Lithium are in the red by 2.86%, taking the share price down to $1.36. Unfortunately, this only adds to a recent downward trend for the company’s shares. Factoring in today’s move, Core Lithium shares are now 15.7% worse off than a week ago.

Given the sizeable nature of the move — and the short timeframe in which it has transpired — it seems worthwhile investigating what could be feeding into the fear.

Why are lithium bulls getting cold feet now?

Typically, the underlying commodity price is to blame when the majority of mining companies of a specific resource move together. For some context, here are the share price movements of some other popular lithium names in the last seven days:

• Piedmont Lithium Inc (ASX: PLL) down 12.4%
• Liontown Resources Limited (ASX: LTR) down 4.7%
• Pilbara Minerals Ltd (ASX: PLS) down 2.2%

However, a quick inspection of the lithium price on Trading Economics reveals that the battery commodity has held steady over the past week. Consequently, we need to look elsewhere to find a possible detractor from the Core Lithium share price.

At a higher level, The Motley Fool recently reported on potential alternatives to lithium for a green energy future. On 11 August, we covered claims from a Brisbane-based company that it had produced a graphene aluminium-ion battery capable of charging 70 times faster than a lithium-ion one.

Additionally, news broke of carmaker Porsche conducting virtual tests on a hydrogen-powered car last week. Rather than the popularised hydrogen fuel-cell technology, Porsche’s research involves a hydrogen-combustion engine.

Both of these developments might, at least partly, be responsible for some of the dampening in the Core Lithium share price recently.

Core Lithium share price in context

The past week has offered a rather cold reception for the Core Lithium share price, but let’s put it into context.

In the past month, the lithium explorer is still up a sweet 31%. Zoom out to six months and that positive return balloons to 83%. I doubt there would be too many shareholders displeased with that performance. Especially when we consider that the S&P/ASX All Ordinaries Index (ASX: XAO) is flashing red over the past six months, down 1.8%.

On a positive note, Macquarie has recently boosted its lithium forecasts. Analysts have had their confidence reinvigorated as sales of electric vehicles are remaining strong despite the inflationary environment.

The post Down 16% in a week, what’s next for the Core Lithium share price? appeared first on The Motley Fool Australia.

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More reading

• Could ASX battery minerals shares be in for a boost next month?
• Why has the Core Lithium share price rocketed 50% in a month?
• Could Porsche’s new test run threaten the outlook for ASX lithium shares?
• Here are the 3 most heavily traded ASX 200 shares on Wednesday
• Why is the Core Lithium share price careering 5% lower today?

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 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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