The Cleanaway Waste Management Ltd (ASX: CWY) share price is in focus after the company announced its latest acquisition.

Cleanaway has a market capitalisation of $5.6 billion at the time of writing. However, it’s about to get a bit bigger after the company announced a capital raising and a deal to expand its network.

Let’s look at what the company announced.

Global Renewable Holdings

Cleanaway has big plans with its ‘Blueprint 2030’ strategy, which includes medium-term opportunities to “deliver the blueprints under the strategic infrastructure growth and sustainable customer solutions pillars”. This starts with Global Renewables Holdings Pty Ltd (GRL).

GRL is a licensed composting facility that processes around a fifth of Sydney’s ‘red bin’ household waste at its strategically located Eastern Creek site and delivers around 30% of landfill diversion and “better carbon outcomes” compared to landfill.

The facility currently composts ‘organics’ from red bin household waste and will gradually transition to source separated food organics and garden organics feedstock to meet council customer needs.

Cleanaway is the exclusive contracted provider of waste to the GRL facility until 2032, with waste supply underpinned by contracts with surrounding councils, with which Cleanaway has long-term existing relationships.

Cleanaway said it’s committed to enhancing the facility over time, including an expected $40 million to $45 million update to enclose the compost maturation area.

What are the financial implications for Cleanaway shares?

Cleanaway has entered into a binding agreement and the overall acquisition price is $168.5 million.

The company said that GRL would add 5.2% to its earnings per share (EPS) on an FY22 basis based on the placement proceeds used to fund the purchase price and transaction costs associated with the acquisition.

Cleanaway said this provides the business with an opportunity to immediately internalise existing volumes and acquire “attractive” pro forma FY22 earnings before interest, tax, depreciation and amortisation (EBITDA) of approximately $21.4 million.

The acquisition also eliminates an unfavourable contract provision for Cleanaway in relation to GRL where payments to GRL exceeded receipts from councils (this contract was acquired as part of the Suez acquisition).

Cleanaway also said this deal would allow it to leverage its geographically diverse network to capture organics share, with GRL and a further planned Lucas Heights facility providing Sydney-wide processing capability.

How is it going to pay for this?

Cleanaway is undertaking a fully underwritten placement of new Cleanaway shares to eligible institutional investors to raise $350 million.

The offer price is $2.50, which is a 7.7% discount to the last closing price of $2.71 per share.

This will result in around 140 million new shares being issued, representing 6.8% of its existing issue capital.

With the share purchase plan, eligible Cleanaway shareholders will be able to subscribe for up to $30,000 of new shares. It’s intended to raise up to $50 million.

Cleanaway share price snapshot

Cleanaway shares are currently halted at $2.71 each. They have dropped 14.5% this year to date, but are up almost 6% over the past 12 months.

The post Looking to buy Cleanaway shares? Here’s what you need to know about the company’s latest acquisition appeared first on The Motley Fool Australia.

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More reading

• Cleanaway share price halted amid results, $400m cap raise and acquisition
• ‘Outlook is bright’: Expert names ASX share to buy for long-term fortunes

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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Experts are constantly banging on about focusing on company fundamentals.

It’s wise advice, but it naïvely assumes a share market that is completely efficient. That is, everyone behaves rationally according to all the public information available.

Investors know from their experience just in 2022 how false this is.

Emotions have a huge impact on how and where ASX shares go. It might be painful for some to admit, but it’s true — because everyone participating is human.

To understand what goes on with stocks outside of company fundamentals, AMP Ltd (ASX: AMP) chief economist Dr Shane Oliver this week pointed out how investors can be more emotionally intelligent.

Recognise everyone else is irrational

The first step is to admit that share prices and investors do not behave rationally.

“Recognise that investment markets are not only driven by fundamentals, but also by the often-irrational and erratic behaviour of an unstable crowd of investors,” Oliver said on the AMP blog.

“The key here is to be aware of past market booms and busts so that when they arise in the future, you understand them and do not overreact.” 

By ‘overreact’, Oliver is referring to behaviour like selling everything during a market bust or piling onto “unstable bubbles”.

Recognise you are irrational, like everyone else

By natural extension, the second step is to acknowledge that you, yourself, are impacted by emotions.

“In other words, be aware of how you are influenced by lapses in your own logic and crowd influences,” said Oliver.

“For example, you could ask yourself: ‘Am I highly affected by recent developments? Am I too confident in my expectations? Can I bear a paper loss?’”

Pick a strategy and stick with it

The next action is to choose an appropriate investment methodology according to your own taste and appetites.

And hold on tight for the long term.

“To guard against emotional responses, choose an investment strategy which can withstand inevitable crises whilst remaining consistent with your financial objectives and risk tolerance,” said Oliver.

“Then stick to this even when surging share prices tempt you into a more aggressive approach, or when plunging values suck you into a defensive approach.”

If you must fiddle, go contrarian

The last piece of advice is to run in the opposite direction to the herd.

“If you are tempted to trade, do so on a contrarian basis,” said Oliver.

“Buy when the crowd is bearish, sell when it is bullish. Extremes of bullishness often signal eventual market tops, and extremes of bearishness often signal bottoms.”

Successful investing calls for “going against the crowd” at extreme times, he added, and monitoring investor sentiment research can assist. 

“But also recognise contrarian investing is not foolproof,” said Oliver.

“Just because the crowd looks irrationally bullish (or bearish) doesn’t mean it can’t get more so.”

The post 4 ways emotional intelligence can supercharge your ASX shares: expert appeared first on The Motley Fool Australia.

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• Up 12% in a month, is the AMP share price finally on the comeback trail?
• Why is the AMP share price having such a lousy start to the week?
• Looking to buy AMP shares? Read this first
• Here are the 3 most heavily traded ASX 200 shares on Thursday
• Why AMP, OFX, Rio Tinto, and Telstra shares are dropping

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 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 Wesfarmers Ltd (ASX: WES) share price will be one to watch in the coming week. The S&P/ASX 200 Index (ASX: XJO) giant is set to release its financial year 2022 earnings next Friday.

Could now be the time to jump in on the retail-focused conglomerate behind such businesses as Bunnings, Kmart, Officeworks, and Priceline?

At Friday’s close, shares in Wesfarmers were going for $48.92 apiece, 0.74% higher than their previous closing price. Meanwhile, the ASX 200 lifted 0.02% on Friday.

So, what are brokers forecasting for the Wesfarmers share price? Let’s take a look.

Do Wesfarmers shares boast 20% upside ahead of earnings?

The Wesfarmers share price could be set for growth, with broker Morgans tipping a potential 20% upside.

The broker likes the company’s offerings, which it dubbed “one of the highest quality retail portfolios in Australia”, my Fool colleague James Mickleboro reports. It also thinks highly of Wesfarmers’ management team.

And it’s backed up its praises with equally high expectations. The broker has a $58.40 price target on Wesfarmers’ shares.

It has also tipped the company to pay out $1.65 per share of fully franked dividends in financial year 2022.

That presumably means it expects Wesfarmers’ final dividend to come in at 85 cents after the company handed investors 80 cents per share in March.

Looking further into the future, Morgans predicts Wesfarmers will pay out $1.81 per share in dividends this financial year.

The optimistic outlook likely comes as a relief for embattled investors. The retail conglomerate’s stock has tumbled 18% since the start of 2022. It has also dumped 26% over the last 12 months.

For comparison, the ASX 200 Index has also fallen 6% year to date and 5% since this time last year.

The post Is the Wesfarmers share price in the buy zone ahead of next week’s earnings result? appeared first on The Motley Fool Australia.

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• Why is the Wesfarmers share price smashing the ASX 200 today?
• Did you know you’re investing in lithium when you buy Wesfarmers shares?
• Do any ASX lithium shares pay dividends?
• ASX 200 better buy: Wesfarmers or Woolworths?
• 2 excellent ASX dividend shares experts 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 no position in any of the stocks mentioned. The Motley Fool Australia has positions in and has recommended Wesfarmers 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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ASX reporting season went into overdrive this week as a flock of S&P/ASX 200 Index (ASX: XJO) shares handed in their results.

With a flurry of news and ASX announcements, it can be hard keeping up.

So, here’s the lowdown on some of the biggest movers from ASX reporting season this week. 

You’ll find links to our relevant Foolish earnings coverage for further reading.

The ASX winners

The Nearmap Ltd (ASX: NEA) share price soared above the clouds this week, propelling 30%. While the aerial imaging company lifted the lid on its FY22 results, it was a takeover bid that had the market excited. 

The Temple & Webster Group Ltd (ASX: TPW) share price was also on fire, lighting up 30% on Tuesday before eventually running out of steam to post a 7% gain across the week. Investors cheered as the online furniture retailer delivered 31% revenue growth in FY22 while its earnings margin came in at the high range of guidance.

The IPH Ltd (ASX: IPH) share price also hit a home run, finishing the week 17% higher. The market appears pleased with the company’s global ambitions. Alongside its FY22 results, IPH announced a $387 million acquisition of Smart & Biggar, a leading Canadian intellectual property firm. This marks IPH’s first expansion beyond the Asia Pacific region.

The Brambles Limited (ASX: BXB) share price also ended the week in the winners’ column, pumping out a 12% gain. The logistics group shook off global supply chain challenges to deliver 9% sales growth in FY22, ahead of guidance, and boosted its final dividend.

Last but certainly not least, the BHP Group Ltd (ASX: BHP) share price punched in a 7% weekly rise, fortifying its crown as the ASX’s largest company. The Big Australian beat expectations in FY22 as strong cash flow performance led to a juicy final dividend of US$1.75 per share.

The ASX losers

While Temple & Webster soared, the pain continued for fellow ASX e-commerce share Redbubble Ltd (ASX: RBL). The Redbubble share price suffered a steep 40% intraday fall on Wednesday after marketplace revenue dropped 13% and earnings reversed in FY22.

The Pact Group Holdings Ltd (ASX: PGH) share price also found itself under pressure, packaging up a weekly loss of 19%. COVID and supply chain challenges contributed to a 25% fall in the company’s FY22 underlying profit. Pact Group also slashed its final dividend by 75%.

The week wasn’t kind to the TPG Telecom Ltd (ASX: TPG) share price either, descending 13%. The ASX telco reported soft first-half results, impacted by restructuring and rising cost pressures.

The Bendigo and Adelaide Bank Ltd (ASX: BEN) share price also had a week to forget, stumbling 11% as investors were unimpressed by the company’s FY22 results. The ASX bank’s commentary around its net interest margin may have spooked the market.

Finally, the Beach Energy Ltd (ASX: BPT) share price failed to fire, slipping 8% across the week. The company’s FY22 profits fell short of expectations and the ASX oil share warned investors that unit field operating costs would likely head north in FY23. 

Which ASX 200 shares are reporting next?

Gear up for another jam-packed week of ASX reporting season as a swarm of ASX 200 shares prepare to release their results.

According to our Foolish ASX reporting season calendar, some of the ASX blue-chip shares reporting next week include Wesfarmers Ltd (ASX: WES), Woolworths Group Ltd (ASX: WOW), Coles Group Ltd (ASX: COL) and Qantas Airways Limited (ASX: QAN).

The post ASX reporting season weekly wrap: Winners and losers appeared first on The Motley Fool Australia.

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More reading

• Worried about the iron ore price? Why the need for it ‘ain’t going anywhere’: broker
• Here are the top 10 ASX 200 shares today
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• Why AGL, Fisher & Paykel, Inghams, and TPG shares are sinking today
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Motley Fool contributor Cathryn Goh has positions in REDBUBBLE FPO. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Nearmap Ltd., REDBUBBLE FPO, and Temple & Webster Group Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended IPH Ltd. The Motley Fool Australia has positions in and has recommended Bendigo and Adelaide Bank Limited, COLESGROUP DEF SET, Nearmap Ltd., and Wesfarmers Limited. The Motley Fool Australia has recommended IPH Ltd, TPG Telecom Limited, and Temple & Webster Group 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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When it comes to investing, I have a tendency to look for ASX shares that I can buy and hold for a long period of time rather than trade in and out of positions.

This way, I can benefit from the power of compounding. This is what happens when you generate returns on top of returns. It explains how $10,000 can turn into $26,000 in 10 years if you average a 10% return per annum.

With that in mind, listed below are two ASX shares that I would invest $10,000 into for the long term. They are as follows:

CSL Limited (ASX: CSL)

The first ASX share that I would invest $10,000 into this month is CSL. It is one of the world’s leading biotherapeutics companies with a collection of world-class businesses that includes CSL Behring and Seqirus.

I’m a big fan of the company due to its high-quality portfolio of products, lucrative development pipeline, and huge investment into research and development (R&D). In respect to the latter, every year, CSL reinvests 10% to 12% of its revenue back into its R&D. This saw the company invest over US$1 billion into these activities in FY 2022, ensuring that it has a wide range of potentially lucrative and life-saving therapies destined for commercialisation in the coming years.

And while the company may not be out of the woods just yet with COVID-related margin pressures, management anticipates its margins bottoming during the first half of FY 2023. After which, the normalisation of trading conditions and the company’s exciting new Rika plasma collection technology are expected to support margin expansion and solid earnings growth once again.

All in all, I believe CSL’s shares could be a quality long-term option for investors.

Technology One Ltd (ASX: TNE)

Another ASX share that I think would be a quality buy-and-hold option right now is enterprise software company TechnologyOne.

I think it is one of the best tech shares on the Australian share market thanks to its high quality and sticky software, which is used by countless businesses and government agencies across Australia and the UK.

In respect to the stickiness of its software, TechnologyOne boasts an ultra-low churn rate of 0.09% of annual recurring revenue (ARR) and a net revenue retention (NRR) of 114%. This means that not only are TechnologyOne’s customers sticking around, it is squeezing more revenue from them each year.

Another positive is that the company is currently transitioning its customers to a software-as-a-service offering and ceasing support for legacy software. This shift to higher margin recurring revenues is expected to be supportive of stronger margins in the coming years.

This transition has been going very well and is expected to continue doing so. In fact, management is confident enough to forecast ARR of $500 million by FY 2026. This is almost double its current base ARR of $288 million.

And while TechnologyOne’s shares carry a premium valuation, I believe the company’s extremely positive outlook justifies this and would be a buyer of them for the long term at current levels.

The post Why I would invest $10,000 into these ASX shares for 10 years appeared first on The Motley Fool Australia.

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• Brokers name 3 ASX shares to buy today
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• Broker gives its verdict on the CSL share price post-FY22 results

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended CSL Ltd. The Motley Fool Australia has recommended TechnologyOne 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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S&P/ASX 200 Index (ASX: XJO) shares representing building materials providers are in a bind at the moment.

Interest rates are steeply rising, meaning consumers will have less money for both renovations and constructing new housing.

That logically is not great for businesses that supply construction materials.

So many of those ASX 200 shares have been sold off in recent times, and that perhaps might have opened up a buying opportunity.

After all, if sentiment is so weak now, eventually interest rates will stop rising and activity will normalise.

Several experts have tipped fibre cement sheeting provider James Hardie Industries plc (ASX: JHX) as a prudent pick-up in recent times.

But a similar ASX company not often talked about is CSR Limited (ASX: CSR).

This week Fairmont Equities managing director Michael Gable explained why he believes CSR is ripe for buying at the moment.

Why ASX 200 share CSR can fight through lean times

Gable admitted there are risks for the building products business, but plenty of factors abound that could offset the impact of rising interest rates.

“On the positive side, the rate of decline in Australian housing starts (>20%) is unlikely to be as much as the declines evident in past cycles of -25% to -45%,” he wrote on the Fairmont blog.

“One of the factors supporting the lower-than-historical rate of decline is household formation… A recovery is expected in FY25, as population growth returns to full capacity.”

Management has noted how “multi-family” and ” non-residential” construction seemed to be picking up after postponements though the early years of the COVID-19 pandemic.

“Recovery in these volumes may help soften the anticipated impact from the decline in detached housing in FY24.”

Gable added that a lesser-known business arm of the ASX 200 share, the property division, is going gangbusters.

“The company has 457ha of existing land holdings that are leveraged to key western Sydney locations that are set to benefit from structural tailwinds,” he said.

“These include a new Western Sydney Airport, surging e-commerce activity and strong demand for distribution centres.”

This real estate business is increasingly holding up CSR’s stock price.

“While there is downside risk to the valuation for the building products division, overall group valuation is likely to be supported by the property division, which is now comprising a greater portion of the group’s valuation (currently accounting for ~1/3rd of the group enterprise value).”

The share price could be at the start of a rise

From the start of the year to June, CSR shares sank as much as 34%. But over the past couple of months, the stock has rallied by 20%.

Gable feels like it’s on a roll now.

“It broke higher in mid-July on good volume,” he said.

“So far we have CSR respecting the breakout as it continues to climb higher. Momentum looks good and the share price is likely to continue rallying.”

CSR will not report its numbers this month as its financial year ends in March.

The post This building materials ASX 200 share is a buy (not James Hardie): expert appeared first on The Motley Fool Australia.

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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 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 Fortescue Metals Group Limited (ASX: FMG) share price will be one to watch next week.

This follows the release of a late announcement on Friday by the iron ore giant.

What did Fortescue announce?

After the market close, Fortescue released an update on the Belinga Iron Ore Project in the Republic of Gabon.

According to the release, the company’s 80% owned joint venture company, Ivindo Iron, has signed the exploration convention for the project with the Gabon Government. This follows an agreement between the two parties late last year that granted Fortescue an exclusivity period to study the opportunity to develop the Belinga iron ore deposit.

Clearly it has liked what it saw at the project. So much so, Fortescue expects to spend approximately US$90 million over three years on an exploration works program at the 4,500 square kilometres project.

These activities are expected to immediately commence upon grant of the exploration licences, with the initial focus on exploration works to determine the potential size and grade of the Belinga iron ore deposit and to evaluate logistics solutions.

Fortescue’s chief executive officer, Elizabeth Gaines, said:

Fortescue is committed to its strategic pillars of investing in the long-term sustainability of the iron ore business and investing in growth. Consistent with this approach, Fortescue is pursuing global opportunities in iron ore that align with our strategy and expertise.

We welcome the opportunity to assess the Belinga Project, which we believe is potentially one of the world’s largest undeveloped, high-grade hematite deposits. We look forward to working with our partner, the Gabon Government and all key stakeholders on this important project as we continue to assess opportunities to optimise growth and returns in our iron ore business.

The Fortescue share price is down 3.5% in 2022.

The post Why the Fortescue share price is on watch next week appeared first on The Motley Fool Australia.

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More reading

• Worried about the iron ore price? Why the need for it ‘ain’t going anywhere’: broker
• 1 factor that could drag on Fortescue Future Industries’ green dream
• Can shareholders have bigger dividends AND more spending on Fortescue Future Industries?
• Why is the Rio Tinto share price lagging the ASX 200 on Tuesday?
• ‘Self-interested billionaires’: Fortescue share price climbed today despite union war of words

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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If you’re looking for new additions to your income portfolio next week, then the two ASX dividend shares listed below could be worth considering.

Both shares have been rated as buys by analysts and tipped to provide attractive yields in the coming years. Here’s what you need to know:

Charter Hall Social Infrastructure REIT (ASX: CQE)

The first ASX dividend share for income investors to look at is the Charter Hall Social Infrastructure REIT.

As its name implies, this real estate investment trust invests in social infrastructure properties such as bus depots, government facilities, police and justice services, and childcare centres.

The analysts at Goldman Sachs are big fans of the company. This is due partly to its sky high occupancy rate and long leases.

The broker is expecting this to underpin growing dividends in the coming years. For example, it 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 $3.73, this implies yields of 4.8% and 5.1%, respectively.

Goldman also sees a lot of value in its shares at the current level with its conviction buy rating and $4.35 price target. This suggests potential upside of 17%.

Dexus Industria REIT (ASX: DXI)

Another ASX dividend share to look at is industrial and office property company Dexus Industria.

It has been rated as a share to buy by analysts at Morgans. The broker appears confident that the company is well-placed to deliver sustainable income and capital growth over the long term.

In the near term, the broker is anticipating some attractive dividend yields. It is forecasting dividends per share of 16.4 cents in FY 2023 and 16.9 cents in FY 2024. Based on the current Dexus Industria share price of $2.85, this will mean yields of 5.75% and 5.9%, respectively.

Another positive is that the broker sees plenty of upside for its shares with its price target of $3.25. This implies potential upside of 14%.

The post Anaysts name 2 ASX dividend shares to buy next week appeared first on The Motley Fool Australia.

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More reading

• Goldman Sachs names 2 ASX dividend shares to buy
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• Analysts rate these ASX dividend shares as buys now

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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If you’re a fan of growth shares like I am, then you’ll be pleased to hear that a number have recently been rated as buys by leading brokers.

Two such ASX shares are listed below. Here’s what analysts are saying about them:

Breville Group Ltd (ASX: BRG)

The first growth share to look at is Breville. It is the leading appliance manufacturer behind a range of popular brands. These include Sage, Kambrook, and of course Breville.

Breville has been a quiet achiever over the last decade, generating strong sales and earnings growth and delivering stellar returns for investors without much fanfare.

This has been underpinned by a combination of smart bolt on acquisitions, its consistent investment in research and development, and its expansion into new territories.

And while trading conditions aren’t easy at the moment and could weigh on its near term performance, the long term looks as bright as ever. In fact, the team at Morgans believes the company is “positioned to deliver double-digit sales growth consistently over the next few years as it grows its market share, notably in geographies into which it has recently launched.”

In light of this, the broker currently has an add rating and $25.00 price target on Breville’s shares.

Nitro Software Ltd (ASX: NTO)

Another ASX growth share to consider is Nitro. It is a growing provider of document productivity software to businesses large and small globally. 

Unfortunately, Nitro’s shares have been absolutely smashed this year. This has been driven by the market’s aversion to loss making stocks, weakness in the tech sector, and a disappointing guidance downgrade.

The team at Goldman Sachs is sticking with the company and has been urging investors to take advantage of the weakness in the Nitro share price by picking up shares while they’re down. Particularly given that the broker continues “to see NTO as an undervalued global growth opportunity and highlight that the company now trades at ~12x FY24E EV/EBITDA on a capitalisation-adjusted basis.”

As a result of this bullish view, Goldman has a buy rating and $2.05 price target on its shares.

The post Here are 2 exciting ASX growth shares tipped as buys by analysts appeared first on The Motley Fool Australia.

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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 Nitro Software 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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The Monger Gold Ltd (ASX: MMG) share price has been soaring lately, but could it have more joy ahead?

This ASX lithium share has lifted nearly 121% in a month, closing 8.86% higher on Friday at 43 cents.

Let’s take a look at what is going on at Monger Gold.

Could the US climate legislation help?

Monger Gold may be exploring gold, copper and zinc, but it is also intent on playing a role in the lithium future.

On Thursday, Monger shares soared on news it had secured an exclusive option to take over the Brisk Lithium Project.

This mine is located in the James Bay Lithium Project in Quebec, Canada and hosts pegmatite outcrops.

Monger sees this project as an opportunity to cash in on a huge climate bill that recently passed the United States Congress.

Commenting on the latest acquisition this week, CEO Adam Ritchie said:

For Monger, this deal solidifies the foundational lithium asset set. In combination with the
Scotty Lithium Project in Nevada, all three main lithium resource types are now covered being brine, sedimentary and hard rock.

This places Monger in a prime position to take advantage of legislation recently passed by the US congress, enforcing a minimum level of locally sourced raw materials within the North American battery supply chain.

In May, the company signed an agreement to acquire the Scotty Lithium Project in Southern Nevada.

In addition, multiple ASX lithium shares have soared this week as United States President Joe Biden signed legislation labelled the “biggest step forward on climate ever”.

As my Foolish colleague Bernd reported, this Bill includes an extension on tax credits for new electric vehicles (EVs). The Bill specifies the critical minerals for these EV batteries must come from the US or a nation with a free trade agreement with the US.

Monger share price snapshot

The Monger share price has surged 79% in a year and nearly 105% year to date.

In comparison, the S&P/ASX Materials Index (ASX: XMJ) has climbed 0.11% in a year and lost 1.28% year to date.

Monger has a market capitalisation of about $17 million based on the current share price.

The post Could this ASX lithium share be set to cash in on Biden’s climate legislation? appeared first on The Motley Fool Australia.

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