The Province Resources Limited (ASX: PRL) share price remains frozen today after being placed in a trading halt last Thursday.

Shares in green hydrogen company are standing still at 14.5 cents each.

As reported by my Foolish colleague Aaron Teboneras, Province shares were frozen last week to give the company time to finalise the terms of a joint development agreement with French renewable energy company Total Eren.

Today, Province requested a further extension of the halt.

Province Resources makes voluntary suspension request

Province asked the ASX to suspend its shares from quotation this morning.

The company asked for more time to finalise its joint venture terms with Total Eren for the HyEnergy green hydrogen project in Western Australia.

Province requested the suspension remains in place until the terms are finalised, or the commencement of trading on Friday this week.

The HyEnergy venture aims to produce 550,000 tonnes of green hydrogen annually at the project site in WA’s Gascoyne region. Green hydrogen is produced using renewable energy.

Currently, the project is in the detailed planning stage and is expected to be built in two stages. This includes using a mix of wind turbines and a solar farm.

Province Resources share price snapshot

The Province Resources share price is holding steady year to date although it’s down 17% over the last 12 months.

That’s an underperformance of the S&P/ASX 200 Materials Index (ASX: XMJ) over the past year. It’s down around 10% in the same time period.

The company has a market capitalisation of $171 million.

The post Why is the Province Resources share price still halted? 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

• Up 80% in a month, why is the Province Resources share price on ice today?

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.

from The Motley Fool Australia https://ift.tt/2icrHlI

ASX lithium shares are in the green today.

Lithium companies surging include Piedmont Lithium Inc (ASX: PLL) and Core Lithium Ltd (ASX: CXO). Sayona Mining Ltd (ASX: SYA), Allkem Ltd (ASX: AKE), and Global Lithium Resources Ltd (ASX: GL1) are also up.

Let’s look at what’s going on with ASX lithium shares on Monday.

What’s going on?

Piedmont shares are soaring 16.14%, while Core Lithium shares are up 10.2%. The Sayona Mining share price is climbing 3.64%, while Allkem and Global Lithium are 3.19% and 2.39% higher, respectively.

News that the USA’s “historic climate bill” has passed United States Congress may be helping lithium shares today. President Joe Biden will sign the bill this week, the ABC reports.

Lithium is a critical component in electric vehicle (EV) batteries.

As my Foolish colleague Bernd reported last week, this bill includes US$347 billion in climate and energy spending. The bill renews the US$7,500 tax credits for new EVs and lifts the cap of 200,000 cars per manufacturer. The bill stipulates the “critical minerals” for the EV batteries must be sourced in the US or a country with a free trade agreement with the US. Australia signed a free trade agreement with the US in 2005.

Piedmont Lithium could be especially well placed to benefit from this bill, given it is headquartered in North Carolina. Piedmont touts itself as a “leading, diversified developer of lithium resources critical to the US electric vehicle supply chain”.

Piedmont’s listing on the NASDAQ lifted nearly 19% on Friday. Lithium Americas Corp (NYSE: LAC) shares rose 6.21%, while Livent Corp (NYSE: LTHM) jumped 5.96%.

Meanwhile, Core Lithium’s share price is lifting today amid an exploration update. The company reported findings at the Anningie-Barrow Creek (ABC) Project as a “lookalike to the company’s high-grade discoveries at the Finniss Lithium Project”. Further, Core Lithium announced receiving two grants from the Northern Territory Government.

The post Why are ASX lithium shares having such a cracking start to the week? 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 boosting the Allkem share price on Monday?
• Why is the Liontown share price leaping 5% on Monday?
• Why is the Piedmont Lithium share price rocketing 15% on Monday?
• Here’s why the Core Lithium share price is soaring 10% on Monday
• 2 quality ASX shares Wilsons just bought

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/RCXbr1x

The WAM Capital Ltd (ASX: WAM) share price is performing well today after the company released its earnings covering the full 2022 financial year. WAM Capital shares are currently trading at $1.87 each, up 0.81% for the day.

This comes after the listed investment company (LIC) closed at $1.85 last week and opened at $1.86 a share this morning.

What did WAM Capital report?

• Operating loss before tax of $425.9 million. That’s down from the profit of $343.3 million from FY21
• Loss after tax of $293.7 million. That’s down from the profit of $266.6 million from FY21
• WAM Capital investment portfolio performance of -18.8% for the year
• A final dividend of 7.75 cents per share declared

What else happened in FY22?

As a LIC, WAM Capital invests in a portfolio of other ASX shares and assets on behalf of its shareholders. The company stated that its after-tax operating loss of $293.7 million was “boosted by a $132.2 million income tax benefit, delivered through the tax benefit on the operating loss for the period and franking credits received on franked dividend income from investee companies”.

But the company stated that its operating loss for the year was “a result of the performance of the investment portfolio over the year”.

The WAM Capital portfolio’s loss of 18.8% for FY22 was a slight outperformance of the S&P/ASX Small Ordinaries Accumulation Index. This benchmark lost 19.5% over the same period.

But it was also a marked underperformance of its other benchmark, the S&P/ASX All Ordinaries Accumulation Index. This fell by 7.4%. The LIC held an average cash position of 13.7% over FY22.

Over FY22, WAM Capital finalised the acquisitions of the PM Capital Asian Opportunities Fund, the Westoz Investment Company and Ozgrwoth Limited. The LIC advised it had achieved returns on investment of 16%, 21% and 22% on these acquisitions, respectively.

WAM Capital declared a final dividend of 7.75 cents per share, fully franked. This will be paid on 28 October after the company trades ex-dividend on 17 October.

That was consistent with the company’s last interim dividend and its final dividend for FY21. This brings WAM Capital’s full-year dividend to a fully franked 15.5 cents per share, the same amount it has paid annually since 2018.

What did management say?

Here’s some of what Geoff Wilson, founder of Wilson Asset Management (WAM) and chair of WAM Capital, had to say:

The 2022 financial year was a turbulent period for equity markets…

The WAM Capital investment portfolio decreased 18.8%, with an average cash weighting of 13.7% over the year. Since inception, WAM Capital has achieved an investment portfolio return of 14.7% per annum, outperforming the S&P/ASX All Ordinaries Accumulation Index by 6.7% per annum.

This long term investment portfolio outperformance has been achieved with WAM Capital’s diligent and proven investment approach, which focuses on identifying undervalued growth companies with a catalyst.

In these uncertain times, we remain focused on our commitment to our proven investment process that has provided solid returns for over 20 years.

What’s next?

Turning to FY23, and WAM Capital warns that “the company’s ability to continue paying fully franked dividends is dependent on generating additional profits reserves, through positive investment portfolio performance, and franking credits”.

It told investors that as of 30 June 2022, WAM Capital had 8.7 cents per share in its profit reserves. Of this, 7.75 cents will be doled out in the October final dividend.

That means WAM Capital had just 1 cent per share in profit reserves as of 30 June if we take this dividend into account.

WAM Capital share price snapshot

The WAM Capital share price remains down by 16.3% year to date in 2022 thus far (at the time of writing) and by 15.2% over the past 12 months. This ASX LIC offers a trailing dividend yield of 8.31% at the current share price.

The post WAM Capital share price rises despite $426 million loss 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

• This fund manager just named 2 unloved ASX All Ords shares as turnaround buys

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

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

A brand new deal with S&P/ASX 200 Index (ASX: XJO) giant Fortescue Metals Group Limited (ASX: FMG) hasn’t been enough to save one All Ordinaries Index (ASX: XAO) share from the red on Monday.

Mining services and technology provider Imdex Limited (ASX: IMD) released its full-year results alongside news of an agreement with the iron ore goliath this morning.

At the time of writing, the ASX All Ords share is trading for $1.935, 4.68% lower than its previous close.

Let’s take a closer look at the latest from Imdex.

ASX All Ords share teams up with Fortescue Metals

ASX All Ords share Imdex has signed a three-year agreement with Fortescue Metals’ joint venture Iron Bridge.

The agreement will see Imdex’s mining-support technology Blast Dog used at the Iron Bridge Operations in the Pilbara region.

Imdex expects the tech to generate $13 million over its initial term.

Blast Dog is a blast hole sensing and physicals measurement technology. It can be semi-autonomously deployed to log material properties and blast hole characteristics.

Imdex CEO Paul House commented on the news potentially weighing on the ASX All Ords share today:

The commercial success of BLAST DOG reflected in today’s announcement is a credit to Imdex’s research and development team and their drive to make a difference in the mining industry.

We are not aware of any other technology that has the capacity to produce the same quantity and quality of pre-blast rock data and provide as large an impact on downstream processes.

Imdex share price drops following full-year results

The ASX All Ords share is trading in the red today. That’s despite posting record revenue and earnings before interest, tax, depreciation, and amortisation (EBITDA). Here are the highlights of its full-year earnings:

• $341.8 million of revenue – up 29.3% on that of the prior corresponding period (pcp)
• $104.9 million of EBITDA – a 38.9% improvement
• Net profit after tax (NPAT) of $44.7 million – up 41%
• Earnings per share (EPS) came to 11.3 cents – a 41.3% lift on that of the pcp
• Announced a 1.9 cent fully-franked final dividend – a 42% improvement

House also commented on the company’s earnings, saying:

[Financial year 2022] was defined by a combination of positive market demand, offset by challenging labour and supply chain considerations. Our [full year] results demonstrate the strength of our business model, our objective to outperform industry market growth and the responsiveness of our global teams in all conditions.

The ASX All Ords share also noted demand for its products remains strong, as do long-term drivers for industry activity and development.

Though, it noted absenteeism and supply chain issues may continue to impact its customers in the near term.

The post Guess which ASX All Ords share just inked a new deal with Fortescue appeared first on The Motley Fool Australia.

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

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

More reading

• How did the Fortescue share price respond last earnings season?
• 3 ASX All Ordinaries shares celebrating Friday with new 52-week highs
• Can the iron ore price regain its March highs in 2022?
• Still down in 2022, is the Fortescue share price now on the road to recovery?
• Why did the Pure Hydrogen share price pop 21% today?

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 Imdex Limited. The Motley Fool Australia has positions in and has recommended Imdex 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/zgKlnj9

The Allkem Ltd (ASX: AKE) share price is powering up during midday trade.

This comes after the lithium miner announced it will acquire a strategic lithium tenement in exchange for its chemicals company.

At the time of writing, Allkem shares are swapping hands at $12.73, up 2.66%.

Allkem enters contract negotiations

Investors are bidding up the Allkem share price after digesting the company’s latest news.

In its release, Allkem advised that it has entered into a binding and conditional Heads of Agreement (HoA) with Minera Santa Rita S.R.L (MSR).

The Argentinian family-owned company, MSR will acquire Borax Argentina S.A from Allkem as well as $14 million in cash.

Located in the Salta Province, Borax includes the Tincalayu and Sijes Mining Operations and processing capacity at Camp Quijano. Acquired in 2012, it’s the only boron producer in South America, producing refined products and boron minerals and chemicals.

In return, MSR will transfer ownership of the Maria Victoria lithium tenement, situated just north of the Olaroz Lithium Facility.

The tenement covers about 1,800 hectares of land.

Furthermore, Allkem will retain a portion of the gas capacity that Borax is entitled to and from the Fenix and La Puna gas pipelines. However, this is subject to receipt of necessary third party and regulatory approvals.

The proposed transaction is expected to be wrapped up by the fourth quarter of the 2022 calendar year.

Allkem’s managing director and CEO, Martin Perez de Solay commented:

The acquisition of the Maria Victoria tenement complements Allkem’s existing extensive lithium brine holdings in the region and will allow more efficient development of the Olaroz salar.

The exchange of Borax which is a non-core asset allows Allkem to remain focussed on its key aim of delivering growth plans of increasing lithium production threefold by 2026 and maintaining 10% of global market share in the longer term.

Allkem share price snapshot

Over the past 12 months, the Allkem share price has surged by 33% following favourable pricing for lithium carbonate.

The share touched an all-time high of $14.38 on 30 May and now appears to be moving in a cup and handle pattern.

Allkem commands a market capitalisation of approximately $7.91 billion.

The post What’s boosting the Allkem share price on Monday? 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 is the Liontown share price leaping 5% on Monday?
• 2 quality ASX shares Wilsons just bought
• New records and looming deficits. Why ASX lithium stocks are in the spotlight
• Why is the Lake Resources share price up so much more than other ASX lithium shares today?
• Here are 2 ASX lithium stocks analysts rate as buys

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

from The Motley Fool Australia https://ift.tt/krXS9zp

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

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

Warren Buffett has a different perspective than most on stock market declines, and it’s hard not to think he’s got it right. After all, Buffett is among the world’s richest billionaires and most successful investors. His view on market cycles has clearly served him well.

Here’s a look at what Buffett has to say about falling stock prices, and how you can safely implement his tactics.

Net buyers of stock

In a 2020 interview with CNBC, Buffett said “net buyers” of stocks benefit when the stock market goes down. By “net buyers,” he means investors who do more stock buying than selling.

And guess what? You are probably a net buyer. Anyone who invests monthly in a retirement account can be a net buyer. Buy-and-hold investors are also typically net buyers.

For net buyers, lower stock prices can mean greater gains potential, assuming you keep investing when the market dips. In Buffett’s view, net buyers should celebrate down markets — in the same way you might take advantage of lower food or gas prices.

Think of it this way. If you’re investing regularly and selling infrequently, it’s logical to focus on stock prices as they relate to buying, not selling. And for buyers, lower stock prices are a good thing.

How Buffett celebrates lower stock prices

Buffett puts this perspective into practice, too. When the stock market turns, he often ramps up his buying activity — taking advantage of those lower share prices before they disappear.

When the market eventually recovers, the company stands to log some nice gains on those buys.

This is exactly what happened in the first half of 2022, when the S&P 500 fell roughly 20%. Berkshire Hathaway, the conglomerate Buffett runs, invested nearly $44 billion net of sales during the dip.

How to invest in downturns safely

Investing in down markets can raise your portfolio’s long-term earnings potential — but it’s not for everyone. Buffett obviously has unmatched resources plus decades of experience on his side. For the rest of us, buying in a downturn can be stressful.

For that reason, it’s smart to move forward conservatively. These guidelines will help:

1. Do not invest money you’ll need to spend in the next five years. Even better if you can give your investments 10 or 20 years to accumulate gains.
2. Buy companies you know. Don’t use this time to speculate. Instead, lean into mature companies with a proven ability to power through down economies and other crises. You can also invest in large-cap ETFs for diversification on a budget.
3. Invest a small amount each week or month. Small, periodic investments have lower timing risk than one big investment. Timing risk is the chance a stock’s price will dip dramatically just after you buy it. The slow-and-steady approach also lets you gauge your comfort level and adjust your plan accordingly before you’ve locked up your life savings for years.

Embrace the buyer’s outlook

Even if you choose not to increase your investing activity in this tough market, you might try experimenting with a net-buyer outlook.

Instead of focusing on how much your portfolio’s value has declined, look for opportunity. Watch how your favorite stocks are responding, and imagine how they might fare in a recovery. You might even track a simulated portfolio on paper.

The exercise should make this market more tolerable emotionally. And by the time the next down market rolls around, you’ll have a strategy to work through it — just like Buffett will.

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

The post Warren Buffett says this type of investor benefits most when stock prices fall 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

• 3 US stocks that could be worth $1 trillion by 2032
• The CBA share price looks downright expensive
• 4 key traits Warren Buffett uses to pick the best stocks
• What Warren Buffett can teach you from his top 3 holdings

Catherine Brock 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 Berkshire Hathaway (B shares). The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended the following options: long January 2023 $200 calls on Berkshire Hathaway (B shares), short January 2023 $200 puts on Berkshire Hathaway (B shares), and short January 2023 $265 calls on Berkshire Hathaway (B shares). The Motley Fool Australia has recommended Berkshire Hathaway (B shares). The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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

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

The Commonwealth Bank of Australia (ASX: CBA) share price is managing to hold onto some gains today, up 0.26%.

Meanwhile, the rest of the big four S&P/ASX 200 Index (ASX: XJO) have dipped into the red in early afternoon trading.

At the current share price of $100.56, CBA trades on a price-to-earnings (P/E) ratio of 18.2 times.

While that’s not particularly excessive amongst high-growth shares (in fact, it would be considered low for most), it is the highest amongst the ASX 200 bank shares.

Here’s how the P/E ratios for CommBank’s top competitors stack up:

• Australia and New Zealand Banking Group Ltd (ASX: ANZ) trades at 10.7 times earnings
• National Australia Bank Ltd (ASX: NAB) trades at 15.4 times earnings
• Westpac Banking Corp (ASX: WBC) trades at 14.6 times earnings

So, is the CBA share price overvalued compared to its peers?

Property slowdown alert

One of the biggest factors analysts are poring over in valuing bank shares is the outlook for the Aussie housing market.

Interest rates, as we’re sure you’re aware, have gone from declining for a period of more than 10 years to a series of rapid hikes this year. And more rate rises are almost certainly on the near-term horizon.

While rising rates should serve to cool soaring inflation figures and help the banks’ net interest margins (NIMs), higher borrowing costs will also see dwelling prices fall. Just how much of a fall depends on who you ask.

That’s going to depress the demand for new mortgages in the short to mid-term. And it will put numerous borrowers under stress when the ultra-low fixed-rate mortgages they locked in at the housing peak leap 2% or more higher.

This is where the CBA share price could face stiffer headwinds than the other ASX 200 banks.

As Russel Chesler, head of investments at VanEck points out, CBA is Australia’s top home lender.

And Chesler sounds a note of caution on the outlook for the CBA share price (courtesy of The Australian):

CBA continues to trade at a premium to other big banks and is arguably overvalued. As the nation’s biggest home lender, it is most exposed to the property slowdown. We do not believe that the trading premium is sustainable in the long term and, at some point, CBA will be rerated.

CBA share price snapshot

CBA shares have gained 26.8% over the past five years.

Notably, the CBA share price is the only one amongst the ASX 200 bank shares that’s posted a solid gain over that five-year run. Or any gain at all, to be accurate.

The NAB share price is the next best performer, down 0.4% over five years. ANZ shares have lost 19.3% over that period while Westpac trails the pack, with shares in the ASX 200 bank down 30.4%.

The post Is the CBA share price overvalued compared to other ASX 200 banks? 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 CBA share price has been making big news this week. What can ASX 200 investors expect next?
• How big is the CBA dividend yield right now?
• What does CommBank’s latest update mean for NAB shares?
• Is the CBA share price a buy after the bank’s FY22 results?
• Does this signify more bad news for ASX BNPL shares like Zip?

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

from The Motley Fool Australia https://ift.tt/0ljsvgu

It’s been a positive start to the trading week so far this Monday for the S&P/ASX 200 Index (ASX: XJO). So far today, the ASX 200 has gained a decent 0.43% and is back over 7,060 points. But it’s been an even better start to the week for the Liontown Resources Limited (ASX: LTR) share price.

Liontown shares have charged out of the gate today. This ASX 200 lithium stock has gained a healthy 5.15% so far today and is now trading at $1.79 a share. That comes after the company closed at $1.70 a share last week and opened at $1.75 this morning.

So what might be eliciting this pleasing jump in valuation for Liontown shares today?

Well, it’s got nothing to do with any news or announcements out of the company itself, seeing as there are none today.

Why is the Liontown Resources share price on fire today?

However, we are seeing some big moves today with most of Liontown’s ASX lithium share peers. Pilbara Minerals Ltd (ASX: PLS) shares are enjoying a 2.4% boost today. Allkem Ltd (ASX: AKE) shares are up more than 2.8%. And Core Lithium Ltd (ASX: CXO) shares have exploded more than 10% higher to $1.62 a share.

It might be the latter company there that is to thank for these decisive share price rises. As my Fool colleague Brooke covered this morning, Core Lithium shares have rocketed after the company released an update on its exploration activities.

It was all good news, as Core Lithium reported promising spodumene results for its surface-level Anningie-Barrow Creek Project. It also reported a significant gold mineralisation at its Finniss Lithium Project. This is now estimated to hold up to, or even exceed, 18 million ounces of gold.

So good news for Core Lithium shares today. And it looks like this goodwill is spilling into the ASX’s other lithium shares like Liontown.

At the current Liontown Resources share price, this ASX 200 lithium stock has a market capitalisation of $3.92 billion.

The post Why is the Liontown share price leaping 5% on Monday? 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

• Here’s why the Core Lithium share price is soaring 10% on Monday
• Nearmap share price jumps 30% on takeover news
• The ASX 200 company selling everything it makes due to its major competitor being out of the market: fundie
• Carsales share price on watch as full-year profit jumps 23%
• Why this leading fund manager’s favourite ASX 200 bank share is NAB

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

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

The Piedmont Lithium Inc (ASX: PLL) share price is powering ahead during late morning trade.

This comes despite the company not making any price-sensitive announcements on the ASX since its North American Lithium project update.

At the time of writing, the Australian lithium miner’s shares are fetching for 91.2 cents apiece, up 15.44%.

What’s driving Piedmont shares higher today?

Investors are buying up the Piedmont share price following positive news surrounding the company.

According to ABC News, the US House of Representatives has approved a US$430 million (A$604 million) bill tackling climate change.

The package is aimed at providing long-term federal subsidies for investors seeking to transition into renewable energy products. This includes receiving tax credits for wind and solar and new credits for energy storage, biogas and hydrogen.

In particular, US consumers who buy an electric vehicle built in North America will be eligible for a $7,500 tax credit.

US President Joe Biden is expected to sign the bill into law sometime next week.

US House of Representatives speaker Nancy Pelosi illustrates the legislation as a “robust cost-cutting package that meets the moment, ensuring that our families thrive and that our planet survives.”

The historic win has put a number of lithium producers who are based in North America into the spotlight.

As such, shares in Sayona Mining Ltd (ASX: SYA) and Anson Resources Ltd (ASX: ASN) are up 5.46% and 3.33%, respectively.

About the Piedmont share price

After hitting a 52-week low of 48.5 cents on 15 July, the Piedmont share price has surged by 88%.

When looking at year to date, the company’s shares are up 24% for the period.

Based on valuation grounds, Piedmont commands a market capitalisation of approximately $416.78 million.

The post Why is the Piedmont Lithium share price rocketing 15% on Monday? 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 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?
• Why has the Piedmont Lithium share price tumbled 30% in a month?

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

from The Motley Fool Australia https://ift.tt/cUvg6Po

The Bluescope Steel Ltd (ASX: BSL) share price is higher on Monday after the company impressed investors with its FY22 results.

Shares in the steel producer currently trade hands for $17.74 each, a 5.03% gain, after reaching a high of $18.02 earlier in the session. In comparison, the S&P/ASX 200 Index (ASX: XJO) is up 0.33% at the time of writing.

Let’s check the highlights of the company’s FY22 results.

What did Bluescope report?

• Revenue of $19.03 billion, up 47% on FY21
• Record underlying EBIT of $3.79 billion, up 119% on FY21
• Net profit after tax (NPAT) of $2.81 billion, up 135.49% on FY21
• Net cash flow from operating activities of $2.47 billion, up 40% on FY21
• Final unfranked dividend of 25 cents a share

The company reported significant growth in its top and bottom lines despite facing geopolitical and macroeconomic challenges.

Bluescope benefitted from more favourable steel spreads in FY22 which, in turn, contributed to its higher earnings. 2.5 million tonnes of steel was shipped domestically in FY22 as demand held strong.

The company reported strong earnings before interest and taxes (EBIT) performance across all of its operating segments.

Its North Star segment was up 181% on FY21 to $1.9 billion. Australian Steel Products was also up 92% to $1.29 billion while New Zealand and Pacific Islands recorded a 76% increase to $229 million.

Bluescope also announced it would continue to return value to its investors by expanding its share buy-back program. It also declared a final unfranked dividend of 25 cents per share.

What did management say?

In commenting on the results, Bluescope Managing Director and CEO Mark Vassella said:

We saw continued strong demand for our steel products and solutions despite recent macroeconomic and geopolitical volatility. We worked hard to improve our service levels which have been impacted by supply chain and pandemic-related disruptions. It’s truly heartening to see our people continue to step up, to serve our customers, and to operate safely and with great resilience. This record result is their record result.

He added:

BlueScope has delivered for shareholders in FY2022. The Company made nearly $1 billion in shareholder returns, with $344 million in dividends and $638 million in on-market buy-backs.

What’s next?

The outlook for 1H FY23 is less optimistic, with forecast earnings before interest and taxes (EBIT) of $800 to $900 million. That’s well down on the FY22 underlying EBIT figure of $3.79 billion.

The company noted that the commodity spread for HRC [hot-rolled coil] steel is expected to deteriorate significantly in US Midwest and Asian markets.

Bluescope share price snapshot

The Bluescope share price is down 15% year to date. It’s underperforming the wider S&P/ASX 200 Materials Index (ASX: XMJ) which is down 3.47% over the same period.

Bluescope has a current market capitalisation of $8.3 billion.

The post Bluescope share price lifts 5% on record earnings 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 is the Piedmont Lithium share price rocketing 15% on Monday?
• Is this ASX bank share a better buy than the big four banks?
• Carsales share price launches 5% as profit lifts to $161m
• Just how safe is the stock market right now?
• Bailador Technology share price leaps 5% as FY22 profits soar

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.

from The Motley Fool Australia https://ift.tt/yl7Ng5G