The Immutep Ltd (ASX: IMM) share price plunged lower in June despite the company announcing seemingly good news to the market.

As of the final close of last month, the Immutep share price was 29 cents, 30.95% lower than it was at the end of May.

For context, the broader market also suffered last month. The S&P/ASX 200 Index (ASX: XJO) fell 8.9% while the All Ordinaries Index (ASX: XAO) slumped 9.5%.

Let’s take a closer look at what went on with the All Ords biotechnology stock in June.

What weighed on the Immutep share price last month?

The Immutep share price struggled through June as the S&P/ASX Health Care Index (ASX: XHJ) outperformed the broader market.

The healthcare sector slumped just 3.11% last month – leaving it around 5.8% better off than the ASX 200.

Sadly, the approximately $268.5 million (according to the ASX) biotech company suffered a worse fate than many of its peers.

That’s despite it releasing exciting news of its lead product candidate, eftilagimod alpha (known as efti).

The company announced that part A of the phase II TACTI-002 trial, evaluating efti in combination with MSD’s pembrolizumab in 114 patients, met its primary objective, showing favourable anti-tumour activity.

“For Immutep, these highly favourable results are of strategic importance,” the company’s CEO Marc Voigt said. “They support late-stage development for an attractive and very large addressable market.”

Unfortunately, the market didn’t respond quite so positively. It bid the Immutep share price 5.8% lower on the back of the news.

But the Immutep share price is no stranger to the red. It’s currently trading 55% lower than its 52-week high, reached in November 2021.

It’s also 38% lower than it was at the start of 2022 and is trading for 41% less than it was this time last year.

The post Why did the Immutep share price plummet 31% last month? 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 how ASX healthcare shares performed in FY22
• Here’s how ASX 200 healthcare shares performed in June
• Own Immutep shares? Here are 3 takeaways from the company’s investor update
• What’s driving the Immutep share price in June?

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

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

On the surface, the Brickworks Limited (ASX: BKW) share price doesn’t look like a truly extraordinary ASX dividend share. Sure, Brickworks shares have a trailing, fully franked dividend yield of 3.28% on offer right now.

That’s not a bad yield at all when it comes to ASX dividend shares. But it also doesn’t stand out too much either. Especially not against some of the ASX’s famous dividend payers. Take Westpac Banking Corp (ASX: WBC). Westpac currently has a fully franked dividend yield of 6.1% on the table.

And nether Brickworks nor Westpac can currently shine a light on the dividend yield of BHP Group Ltd (ASX: BHP), which is currently over 12%.

But when it comes to dividend shares, size alone doesn’t always matter. Brickworks’ dividend prowess doesn’t come from its raw yield. It comes from the company’s almost unbeatable dividend track record.

Brickworks has maintained or increased its annual dividend payments every year since 1976. Only Washington H. Soul Pattinson and Co Ltd (ASX: SOL) can come even close to rivalling this kind of dividend royalty on the ASX boards.

This streak is not slowing down either. Brickworks delivered a total of 62 cents per share in dividends over FY 2022. That was a 3.33% increase over the 60 cents per share investors received over FY2021.

Brickworks’ last interim dividend (which investors received on 3 May 2022) of 22 cents per share was a 4.76% rise over the previous year’s payment.

Why Brickworks could be one of the ASX’s best dividend shares

Compare this with Westpac and BHP. Sure, BHP’s trailing dividend yield is monstrous at over 12%. But BHP can only fund huge dividend increases when the price of iron ore is historically high. That’s why its dividend history looks more like a sine wave than a staircase.

It’s a similar story with Westpac. Although this ASX bank has a large dividend on the table right now as well, Westpac is also a highly cyclical business — one whose dividends tend to rise and fall on the strength of the economy.

The $1.21 in dividends per share that Westpac paid out over FY 2022 is still a long way from the $1.88 in dividends per share the bank forked out back in 2018.

In contrast to these two ASX blue chips, Brickworks has been a beacon of stability. Its diversified earnings base includes its core construction materials business. But it also includes significant property assets, as well as a large stake in none other than Washington H Soul Pattinson shares.

Brickworks clearly manages the earnings of these three diversified facets of its business to deliver smooth dividend increases over time.

That is why I believe Brickworks might be one of the best ASX dividend shares on the ASX 200 today.

The post Here’s why Brickworks might be one of the ASX’s best dividend shares 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 are the top 10 ASX shares today
• Is the Brickworks dividend yield of almost 5% too good to ignore?
• Building up income: 2 ASX dividend shares I believe are buys
• Is it time to go bargain hunting for ASX shares?
• What is the current dividend yield on Brickworks shares?

Motley Fool contributor Sebastian Bowen has positions in Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Brickworks and Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia has positions in and has recommended Brickworks and Washington H. Soul Pattinson and Company Limited. 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/OuA2z0P

The sell-off in ASX 200 mining shares has been brutal. But it’s prompting some to wonder if the sector has become too cheap to ignore.

After all, our biggest miners have shed around 20% or more over the last month alone on fears of a global recession.

This includes the BHP Group Ltd (ASX: BHP) share price, Rio Tinto Limited (ASX: RIO) share price and the Fortescue Metals Group Limited (ASX: FMG) share price.

ASX 200 mining shares on a downgrade cycle

The price of iron ore is diving along with base metals as investors bet that slowing growth will dent demand for commodities.

As a result, analysts have been lowering their commodity price forecasts and trimming their earnings estimates for ASX 200 mining shares.

But even after the severe falls in the sector, UBS is warning that these shares are not yet cheap enough, although it sees value in select cases.

The broker said:

While stocks are cheaper, we are not convinced they present enough value yet to encourage sector-wide buying.

For instance, all prices sit above/in line with UBS mid-cycle/long-term, as well as marginal cost, and not below or within cost curves.

The upcoming quarterly production reports could harbour more bad news too. Rising costs, lower commodity prices and production issues may see ASX 200 mining shares downgrade their guidance for FY22 and FY23.

This is why UBS has a “neutral” recommendation on the three major iron ore producers, although it sees buying opportunities among ASX gold shares.

UBS puts these ASX 200 mining shares on the buy list

This is because the share prices of many of our gold producers have fallen harder than the Australian dollar gold price.

The names that UBS is urging investors to buy now include Northern Star Resources Ltd (ASX: NST) and Evolution Mining Ltd (ASX: EVN).

Another group of ASX 200 miners that the broker likes are lithium producers. While they haven’t been immune from the recent sell-off, UBS noted that record-high lithium spot prices will drive exceptional cash flows.

This in turn will fund their transformational growth despite UBS’s forecast that lithium will fall by up to two-thirds by end of calendar 2023.

UBS has buys on the IGO Ltd (ASX: IGO) share price, Allkem Ltd (ASX: AKE) share price and Mineral Resources Limited (ASX: MIN) share price.

Where else to dig for value

But UBS’s general caution towards our big miners isn’t necessarily shared by Macquarie.

The broker is also wary of falling commodity prices, and hence its below consensus forecasts for the sector.

But Macquarie thinks many of our big ASX 200 miners are well placed to weather the storm. It explained: “The large-cap miners are generating solid free cash flow on our base case forecasts for FY22. The yields for FY23 are also resilient despite the recent fall in iron ore prices.”

Its top picks for the sector are BHP and the South32 Ltd (ASX: S32) share price. It also has a buy on Rio Tinto but rates Fortescue as “neutral”.

The post Is now the time to be buying beaten down ASX 200 mining shares? 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

• Losing their shine: 3 ASX 200 gold shares hitting new 52-week lows today
• 5 ASX dividend shares with the highest yields in FY22
• These ASX 200 mining shares are bouncing back on Thursday
• Can ASX lithium shares recharge in FY23?
• 5 things to watch on the ASX 200 on Thursday

Motley Fool contributor Brendon Lau has positions in Allkem Limited, BHP Billiton Limited, Fortescue Metals Group Limited, Independence Group NL, Macquarie Group Limited, Rio Tinto Ltd., and South32 Ltd. 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 Macquarie Group 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/bgBY82H

The S&P/ASX 200 Index (ASX: XJO) is back on form on Thursday and pushing higher. In afternoon trade, the benchmark index is up 0.4% to 6,619.4 points.

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

Block Inc (ASX: SQ2)

The Block share price is down 2% to $96.44. This follows weakness in the tech sector on Thursday and a pullback from its NYSE listed shares during overnight trade. The company’s shares fell 2.5% on Wall Street on Wednesday night.

Bubs Australia Ltd (ASX: BUB)

The Bubs share price has sunk 10% to 55 cents. Investors have been selling this infant formula company’s shares despite the release of another update on its US operations. Today’s decline could be a delayed reaction to Bubs’ capital raising on Wednesday, which raised a total of $40.1 million from institutional investors at an 18.8% discount of 52 cents.

Infomedia Limited (ASX: IFM)

The Infomedia share price is down 6% to $1.58. This morning the auto industry software company revealed that Battery Ventures has withdrawn its takeover proposal. While there are still two $1.70 per share bids on the table, Battery Ventures was the highest bidder with a $1.75 per share proposal.

Zip Co Ltd (ASX: ZIP)

The Zip share price is down 7.5% to 53.2 cents. This decline appears to have been driven by a bearish broker note out of UBS this morning. According to the note, UBS has retained its sell rating and slashed its price target on the buy now pay later provider’s shares to 45 cents. The broker is concerned that Zip could inadvertently worsen its credit performance if it raises fees in an effort to improve profitability.

The post Why Block, Bubs, Infomedia, and Zip shares are dropping 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

• Zip share price cops 6% slashing as analyst fears grow
• ASX 200 midday update: Chalice Mining jumps, Zip sinks on bearish broker note
• Why is the Infomedia share price falling 5% today?
• Bubs share price falls despite US FDA update
• 5 things to watch on the ASX 200 on Thursday

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 Block, Inc., Infomedia, and ZIPCOLTD FPO. The Motley Fool Australia has positions in and has recommended Block, Inc. The Motley Fool Australia has recommended BUBS AUST FPO and Infomedia. 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/jSchKxM

The PointsBet Holdings Ltd (ASX: PBH) share price is having a shocker of a day despite no company announcements.

At the time of writing, the sports betting company’s shares are down 6.14% to $2.675.

Let’s take a look at what’s dragging down the former market darling.

PointsBet shares sink amid ASX tech sector sell-off

Investors are offloading the PointsBet share price despite the broader market ticking up a notch across the ASX.

However, the S&P/ASX All Technology (ASX: XTX) sector in which PointsBet falls under is shedding 0.29% to 2,033.5 points.

It appears the benchmark index for Australian technology-orientated companies is taking a breather after recording 4 consecutive sessions of gains.

In addition, PointsBet shares continue to be targeted by short-sellers, propping up consistently within the top part of the list.

Short-selling is a common trading strategy that aims to profit from the fall in the price of a security. The goal is for an investor to borrow shares and sell the shares, and buy them back at a lower price for a profit.

Last week, the Australian Securities & Investments Commission (ASIC) released its short position report revealing the level of short interest within companies.

As at 1 July, PointsBet had 6.20% of its shares being shorted by investors.

Given sizable short positions being taken up, it appears investors believe the company’s shares will continue to fall.

PointsBet share price snapshot

Adding to its steep declines, the PointsBet share price has tumbled by almost 80% over the last 12 months.

These losses have come in 2022 as investor express their concerns about the company’s extreme valuation and high marketing costs.

Year to date, PointsBet shares are down 62%.

Based on today’s price, the company commands a market capitalisation of roughly $834.95 million.

The post What is sending the PointsBet share price 6% lower today? appeared first on The Motley Fool Australia.

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

setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• These are the 10 most shorted ASX shares
• ASX 200 midday update: Suncorp’s update, Magellan sinks
• Up 15% this week, what’s going on with the Pointsbet share price?
• Why Argosy Minerals, Cann, OZ Minerals, and PointsBet shares are pushing higher
• Why is the PointsBet share price storming 13% higher 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 positions in and has recommended Pointsbet Holdings Ltd. The Motley Fool Australia has recommended Pointsbet Holdings Ltd. 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/YhkzSyD

The Insurance Australia Group Ltd (ASX: IAG) share price is rangebound in afternoon trade and currently rests 0.93% in the green at $4.36.

Zooming out, and the share is up 2.5% this year to date after whipsawing in a sideways channel since January. This is seen in the chart below.

But what of the future? Let’s see what one expert has to say about the outlook for the IAG share price.

Analysts concerned over catastrophe risk

In a note on Thursday, analysts at Barrenjoey Markets had a downbeat tone on IAG. The broker weighed up all the contributing factors and evaluated the insurer’s outlook.

However, it was what “IAG was not able to say in its announcement” that prompted the broker to “remain cautious on the stock”.

The announcement was referring to IAG’s FY23 aggregate reinsurance cover and quota share arrangements.

IAG says the aggregate cover “has been placed to the extent of 67.5% to reflect IAG’s cumulative whole-of-account quota share arrangements”.

The combination of all catastrophe covers in force at 1 July 2022 gives IAG a maximum event retention of $135 million.

Further details are set to be provided at the company’s FY22 results announcement on 12 August.

Looking ahead, Barrenjoey noted IAG could be set for higher natural catastrophe costs and a series of natural catastrophe losses.

The broker projects an insurance margin of just 9% for IAG in FY23, roughly 300 basis points below IAG’s guidance.

It notes the insurer will likely face challenges from the accounting treatment of its perils and reinsurance cover.

Things get worse in Barrenjoey’s projections when applying further stress testing.

“Under a more severe scenario there is [more than] 20% cash net profit after tax (NPAT) risk,” the broker added.

Alas, it’s been a difficult past 12 months for the IAG share price. In that time it has slipped almost 12% into the red, and has fallen 20% off its former highs.

The post Here’s why one analyst is ‘cautious’ of the IAG share price 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 did the IAG share price surge 5% on Thursday?
• The ASX 200 share ready to bounce from 10-year lows: expert
• Why is the IAG share price smashing the ASX 200 today?

Motley Fool contributor Zach Bristow has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has positions in and has recommended Insurance Australia Group 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/zyE36O2

The Orexplore Technologies Ltd (ASX: OXT) share price is exploding today.

The company’s shares are rising 44% and are currently trading at 11 cents. However, in earlier trade, the company’s share price was 50% in the green. In comparison, the S&P/ASX 200 Index (ASX: XJO) is up 0.33% today.

Let’s take a look at why this ASX mining tech share is rising today.

New commercial agreement

Ozexplore has signed a commercial agreement with mining giant Oz Minerals Limited (ASX: OZL).

As part of the project, Orexplore will scan drill-core and samples on site for Oz Minerals.

Ozexplore is a mineral scanning technology company for the mining and metals sector.

The binding agreement is worth about $2.35 million. The work will involve analysing about 30,000m of historical drill core and samples in a six month time frame.

There are about 100,000 drill core and samples available. Further core and samples could be added to this quantity subject to site conditions and requirements.

Ozexplore said signing this agreement is “significant” due to the commercial site deployment of its technology platform.

Commenting on the news, managing director Brett Giroud said:

We are extremely pleased to collaborate with OZ Minerals as they leverage technology
to extract critical new information from drill core and create value through this
innovative process.

Orexplore share price snapshot

The Ozexplore share price has jumped 58% in the year to date, while it has leapt 50% in the past month alone.

For perspective, the S&P/ASX 200 Index (ASX: XJO) has shed 11% in the year to date.

Ozexplore has a market capitalisation of about $10.9 million based on the current share price.

The post Guess which ASX mining tech share is surging 44% today appeared first on The Motley Fool Australia.

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

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

More reading

• Here’s why one analyst is ‘cautious’ of the IAG share price
• 2 appealing ASX All Ords growth shares getting discounted today
• Liontown Resources roared home with a 30% gain in FY22
• Why Chalice Mining, Damstra, Link, and Pinnacle shares are storming higher
• What dragged the AMP share price down 13% in June?

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 positions in and has recommended CSL Ltd. 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/RI9uW02

It’s a good day for many ASX All Ordinaries Index (ASX: XAO) constituents, with the index gaining 0.37% at the time of writing. However, these ASX All Ords growth shares are plummeting lower.

But, with brokers bullish on their future, their Thursday falls may have brought about a buying opportunity.

Let’s take a look at what’s going on with these ASX All Ords shares and why experts have tipped them to win out.

2 quality ASX All Ords shares trading in the red today

Jumbo Interactive Ltd (ASX: JIN)

ASX All Ords growth share Jumbo Interactive is tumbling 5.3% to trade at $15.44 on Thursday.

It comes after the stock shot 11.5% higher yesterday. That triggered a ‘please explain’ from the ASX, to which the company responded today.

Perhaps more exciting, however, the internet lottery business has been tipped as a reporting season winner by broker Morgans.

Morgans senior analyst Alexander Mees is expecting the company’s full-year results to depict “good growth”, my Fool colleague Tony Yoo reported this morning.

The broker estimates Jumbo Interactive’s software-as-a-service division will drive its earnings before interest, tax, depreciation, and amortisation (EBITDA) to $55 million. That would mark a 13% year-on-year improvement.

Nitro Software Ltd (ASX: NTO)

Nitro Software is another ASX All Ords growth share with bright horizons trading in the red today. The company’s share price is currently down 1.35% at $1.46.

The document productivity company has been tipped as a winner by Bell Potter, The Motley Fool Australia’s James Mickleboro reported last week.

The broker likes the company’s growing subscription revenue. It also expects Nitro Software to break into positive cash flow territory in the second half of financial year 2023.

Bell Potter has a $2.50 price target on the Nitro Software share price.

The post 2 appealing ASX All Ords growth shares getting discounted today appeared first on The Motley Fool Australia.

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

setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Players gonna play: 3 ASX shares set for a strong reporting season
• 5 best ASX All Ords mining shares in FY22
• These 2 ASX lithium stocks are charging up on Tuesday
• Analysts say these small cap ASX shares have huge potential
• Broker names 3 of the best ASX tech shares to buy in FY23

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 Jumbo Interactive Limited. The Motley Fool Australia has recommended Jumbo Interactive Limited and Nitro Software 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/WY9BcNQ

The Liontown Resources Limited (ASX: LTR) share price beefed right up in FY22 and managed to hold gains amid the market sell-off last month.

At the time of writing, the share is trading at 94.5 cents, slightly down from the $1 it finished the year on.

Nevertheless, the Liontown share price had a robust year, and remained in the green whilst the broad market incurred heavy losses.

Liontown share price remains top-heavy

Shares in the company first took off back in August 2021 amid a series of price-sensitive updates, including the proposed demerger and IPO of its lithium assets.

The spin out was completed to form Minerals 260 Ltd (ASX: MI6), a newly listed public company. It also released a number of other updates throughout August/September to which investors were galvanised.

Liontown caught a heavy bid and its share price raced to a high of $1.94 by 4 November, a 158% increase in just just 3 months.

The price of lithium also remained strong across FY22 despite a number of potential threats, ranging from supply chain breakdown to geopolitical conflict in Europe.

Not to mention that now infamous bearish note out of Goldman Sachs earlier in 2022 that sent the basket of lithium shares into near meltdown.

In that vein, the company secured offtake agreements with Ford and signed its deal with Tesla, with the latter agreeing to buy 150,000 dry metric tonnes of spodumene concentrate off Liontown each year.

Liontown has also remained in favour of brokers as well. Bell Potter reckons the share is “in a strong strategic position in a market for lithium facing supply shortages”.

It values Liontown at $3.06 per share and rates it a speculative buy.

Nonetheless, the Liontown share price was a performer in FY22 and it has managed to hold a 28% gain over the past 12 months, despite recent volatility.

The post Liontown Resources roared home with a 30% gain in FY22 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

• Can ASX lithium shares recharge in FY23?
• Own Liontown shares? Here are 3 takeaways from the company’s investor presentation
• Why did the Liontown share price plummet 25% in June?
• Will the Liontown share price bounce back in July?
• Top broker names 3 of the best ASX 200 shares to buy in FY23

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

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

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a decent gain. At the time of writing, the benchmark index is up 0.35% to 6,618.1 points.

Four ASX shares that are climbing more than most today are listed below. Here’s why they are storming higher:

Chalice Mining Ltd (ASX: CHN)

The Chalice Mining share price is up 8% to $4.05. Investors have been buying this mineral exploration company’s shares following the release of a drilling update. Chalice revealed that a new nickel-copper-PGE sulphide zone has been intersected in initial drilling at the Dampier target, ~10km north of the Gonneville Deposit. This is the first significant indication of orthomagmatic sulphide mineralisation outside of the Gonneville Deposit and is considered an exciting result.

Damstra Holdings Ltd (ASX: DTC)

The Damstra share price is up 19% to 18.5 cents. This morning the enterprise protection software provider confirmed media reports that it has been in takeover talks with Accel-KKR. And while these talks have now ended without a deal being reached, this hasn’t stopped investors from buying shares today.

Link Administration Holdings Ltd (ASX: LNK)

The Link share price is up 6% to $4.06. Investors have been buying this administration services company’s shares amid news that Dye & Durham has lifted its takeover offer from $4.30 per share to $4.57 per share. The Link board advised that it will consider this revised offer.

Pinnacle Investment Management Group Ltd (ASX: PNI)

The Pinnacle share price has jumped 10% to $8.35. The catalyst for this was the release of a market update which revealed that performance fees from its affiliates totalled approximately $57.1 million in FY 2022. This includes a sizeable $38.3 million from the second half of the financial year. Pinnacle’s net share of these performance fees is approximately $16.4 million.

The post Why Chalice Mining, Damstra, Link, and Pinnacle shares are storming higher 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 Damstra share price soaring 26% on Thursday?
• Here’s why the Pinnacle Investments share price is climbing 6% today
• ASX 200 midday update: Chalice Mining jumps, Zip sinks on bearish broker note
• Link share price jumps 7% on beefed up takeover bid
• Chalice Mining share price leaps 13% on new exploration 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 Damstra Holdings Ltd, Link Administration Holdings Ltd, and PINNACLE FPO. The Motley Fool Australia has positions in and has recommended PINNACLE FPO. The Motley Fool Australia has recommended Damstra Holdings Ltd. 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/PdwKLr2