If you’re wanting to invest in the small side of the Australian share market, then the three small caps listed below could be worth a closer look.

Here’s why these small cap ASX shares could be worth adding to your watchlist:

Adore Beauty Group Limited (ASX: ABY)

The first small cap to watch is Adore Beauty. It is a leading online beauty retailer which has been growing strongly over the last few years. This has been driven by a significant lift in customer numbers thanks to the shift to online shopping. The good news for Adore Beauty and investors is that this shift is only really getting started in the beauty category. This gives the company a long runway for growth as the shift continues and more sales move online.

Alcidion Group Ltd (ASX: ALC)

Another small cap share to watch is Alcidion. It is a growing informatics solutions company which provides software which has been designed to improve the efficacy and cost of delivering services to patients and reduce hospital-acquired complications. Demand has been strong for its offering, which is supporting strong sales growth. For example, earlier this week Alcidion revealed that year to date FY 2022 new sales had reached $42.9 million. This is up 93% on cumulative new sales at the same time last year.

Catapult Group International Ltd (ASX: CAT)

A final small cap to look at is Catapult. It is a global sports analytics company that provides elite sporting organisations and athletes with real time data and analytics to monitor and measure athletes. It has been a positive performer in FY 2022, with the company reporting a 13% increase in revenue to $37.5 million during the first half  This was driven by a sizeable 29% growth in subscription revenue, which reflects Catapult’s strategic shift to a focus on high quality recurring revenue SaaS deals.

The post 3 exciting small cap ASX shares to watch appeared first on The Motley Fool Australia.

More reading

• Are these 2 growing ASX e-commerce shares buys?
• Adore Beauty share price glows following ‘strong quarterly performance’
• 2 great ASX growth shares to buy in May 2022: experts
• Analysts name 3 small cap ASX shares to buy
• 2 buy-rated ASX growth shares that analysts say can double

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 Alcidion Group Ltd and Catapult Group International Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Adore Beauty Group Limited. The Motley Fool Australia has positions in and has recommended Catapult Group International Ltd. The Motley Fool Australia has recommended Adore Beauty Group Limited and Alcidion Group 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/qXEsV3j

The BHP Group Ltd (ASX: BHP) share price has finished off a relatively rangebound month with a sharp drop in the latter part of April.

The mining giant’s shares have fallen by more than 5% in the past week alone, slipping just 0.02% to close at $48.01 on Friday.

What happened to BHP shares in April?

Weak investor sentiment drove the BHP share price lower this month following the company’s third-quarter trading update on 21 April.

BHP revealed a fall in production across most of its operations due to a variety of issues for each of its commodities. Its shares sank more than 13% in the three days after releasing the result to the market.

Notably, the miner’s shares hit a 52-week high of $53.72 just two days prior to the announcement.

In a positive light, the company noted that the proposed merger of its petroleum business with Woodside Petroleum Limited (ASX: WPL) was on track. However, this did little to appease investors, who appeared more interested in the results.

Despite the current slump, BHP advised that FY22 production guidance for iron ore, metallurgical coal and energy coal remained unchanged. However, total copper and nickel production guidance has been lowered due to COVID-related labour constraints.

What do the brokers think?

One broker weighed in on BHP’s shares after the release of its latest performance report.

Analysts at Macquarie cut its price target by 1.6% to $60.00 for the BHP share price. It appears the broker still remains bullish on the company despite some short-term headwinds.

UBS had a different tone, raising its outlook by 2.4% to $43.00 late last month. This implies a potential upside of around 11% based on the current share price.

BHP share price summary

Regardless of the recent BHP share price weaknesses, investors would be pleased with a 15.6% gain in 2022.

This is a stark contrast to its shares trading flat over the past 12 months.

BHP presides a market capitalisation of roughly $242.18 billion, making it the biggest company on the ASX.

The post April hasn’t been kind to the BHP share price. Here’s what went down appeared first on The Motley Fool Australia.

More reading

• ASX 200 mining shares just had their best trading day in 5 weeks. What’s next?
• Down over 10% in 10 days: Is the BHP share price a bargain buy now?
• Cash generation among ASX 200 iron ore shares will ‘be significant’ in 2022: expert
• Here’s what the 5 biggest companies on the ASX 200 today were worth in 2000
• 3 ASX 200 mining shares defying today’s sell-off to surge higher

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/PXcQTY0

Shares of Arafura Resources Ltd (ASX: ARU) lifted higher on Friday and finished 6.76% in the green at 39 cents apiece.

The Arafura share price also finished 6% higher for the week, bringing its total return to 100% since mid-March.

The company released its quarterly activities and operations update today. Let’s take a look.

Arafura Resources quarterly update

Key takeouts from the quarter include:

• Neodymium and Praseodymium (NdPr) pricing continued to increase to US$152/kg in the quarter
• Appointment of Societe Generale and National Australia Bank to execute export credit agency driven debt funding strategy
• Strong cash position of $33.5 million to continue Front-End Engineering Design (FEED)
• FEED works progressing in line with schedule
• Award of $30 million grant under Federal Government’s Modern Manufacturing Initiative for Nolans rare earth separation plant

What else happened this quarter?

As NdPr prices continued to rise last quarter, this has reinstated a stroke of confidence for the company moving forwards.

“[P]ricing continued to increase… providing confidence of sustained higher prices and strong project economics,” the company noted.

At the Nolans NdPr Project, located in the Northern Territory, FEED works continued during the quarter across multiple fronts, Arafura says.

The company aims to develop the world’s second rare earth separation plant outside of China at the site.

Works included a range of updates, such as engineering design progress at the hydrometallurgical plant, and additional costs for a strategic pivot at the sulphuric acid plant.

The company noted in its report:

A review of the delivery strategy for the Nolans sulphuric acid plant recommended a move away from a modular solution

The impact of this strategy is an increase in up-front costs from A$1,056m to A$1,150m through the movement of A$93.4 million from sustaining capital expended in years one and two into pre-production capital. The overall impact of this movement on the financial return on the project is minimal.

Meanwhile, the company also made several preparations to advance on its project(s), with completion dates set around April and/or May 2022.

To engage the community, it held a roadshow throughout the Northern Territory to provide prospective stakeholders the opportunity to get involved with the project.

What’s next?

Arafura says that it is on track to execute its funding strategy, with the Nolans project aligning closely to the Government’s 2022 Critical Minerals strategy.

It also continued to engage in offtake discussions for “strategic investment with key parties who recognise the value of a de-risked NdPr value chain through long-term offtake and strategic investment in the upstream value chain.”

At this stage, the company has no certainty as to the timing and likelihood of securing strategic investment – these arrangements will be announced to the ASX if (and when) formal agreements have been concluded.

Arafura Resources share price snapshot

The Arafura share price has spiked 113% in the last 12 months after a strong gain this year to date, where its gained 88%.

During the previous month, it has lifted 16% and sits in the green across all time frames after running hot since March this year.

The post Arafura Resources share price extends gains on Friday, up 100% since March appeared first on The Motley Fool Australia.

More reading

• Guess which ASX rare earths share has rocketed more than 120% in a month

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/L6TQAsh

Today, the S&P/ASX 200 Index (ASX: XJO) had another leg up as numerous companies posted their quarterly updates. At the end of the session, the benchmark index finished 1.06% higher at 7,435 points.

Tech investors inhaled a breath of fresh air as the out of favour sector ended up being the best performing on Friday. Following closely behind were solid showings among the communications and consumer discretionary areas of the market. The refreshing end to the week followed a rebound in US stocks last night.

However, the question is: which shares delivered the biggest returns to investors on the ASX today? Here are the top ten stocks that came through for investors:

Top 10 ASX shares countdown today

Looking at the top 200 listed companies, Nickel Mines Ltd (ASX: NIC) was the biggest gainer today. Shares in the nickel miner posted raced 7.35% higher after releasing its annual report to shareholders today. In addition, the company reported a record quarter yesterday. Find out more about Nickel Mines here.

Sliding in as the second biggest gainer today was Paladin Energy Ltd (ASX: PDN). The uranium explorer added 6.49% to its share price after a negative reaction to its quarterly report yesterday. Uncover the latest Paladin Energy details here.

Today’s top 10 biggest gains were made in these ASX shares:

ASX-listed company	Share price	Price change
Nickel Mines Ltd (ASX: NIC)	$1.315	7.35%
Paladin Energy Ltd (ASX: PDN)	$0.82	6.49%
Pilbara Minerals Ltd (ASX: PLS)	$2.85	5.95%
Chalice Mining Ltd (ASX: CHN)	$6.95	5.78%
Stanmore Resources Ltd (ASX: SMR)	$2.37	5.33%
GQG Partners Inc (ASX: GQG)	$1.45	5.07%
Magellan Financial Group Ltd (ASX: MFG)	$16.31	4.75%
Challenger Ltd (ASX: CGF)	$7.29	4.59%
Aristocrat Leisure Ltd (ASX: ALL)	$33.66	4.21%
Seek Ltd (ASX: SEK)	$28.38	4.15%

Our top 10 ASX shares today countdown is a recurring end-of-day summary to ensure you know which companies were making big moves on the day. Check in at Fool.com.au after the market has closed during weekdays to see which stocks make the countdown.

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

More reading

• Here are the 3 most heavily traded ASX 200 shares on Friday
• Why are ASX 200 travel shares having a first-class end to the week?
• ASX 200 midday update: ResMed disappoints, PointsBet rockets higher
• Is rising inflation reducing how much Aussies are investing in ASX shares?
• 5 things to watch on the ASX 200 on Friday

Motley Fool contributor Mitchell Lawler has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Challenger Limited and SEEK 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/opkgi0b

The Firefinch Ltd (ASX: FFX) share price went skywards today, rising 16.06% to finish the session at $1.12 after the company announced a proposed demerger of Leo Lithium Limited.

Firefinch is a gold miner and lithium developer in Mali, West Africa. It owns an 80% interest in the
Morila Gold Mine and 100% of the Goulamina Lithium Project.

The demerger would result in two independent ASX-listed companies — Firefinch and Leo Lithium, as well as the separation of Firefinch’s gold and lithium projects.

Goulamina is among the world’s largest spodumene mines. It has large scale, high grade, low impurity orebody. Under the proposed deal, Leo Lithium would own Goulamina and Firefinch would own a 20% stake in Leo Lithium.

Why break up?

The rationale behind the demerger is to create “a pure-play lithium developer on the ASX with funding to help accelerate development and growth plans at Goulmamina”, the company says.

Leo Lithium has lodged a prospectus for an initial public offering (IPO) of its shares. It has also given the ASX a demerger and offer briefing document explaining the effect of the demerger.

What’s the nitty-gritty?

Firefinch shareholders will vote on the demerger at the general meeting in Perth on 31 May. If the demerger proceeds, eligible Firefinch shareholders will be entitled to receive one share in Leo Lithium for every 1.4 Firefinch shares held at the demerger record date of 6 June.

Eligible Firefinch shareholders will also be able to buy Leo Lithium shares at 70 cents per share in a pro-rata priority offer to raise up to $80 million for Leo Lithium to spend developing Goulamina.

Investors can subscribe for one Leo Lithium share per 10.33 Firefinch shares held. Up to 114 million Leo Lithium shares will be issued under the pro-rata offer. The record date for the pro-rata offer is 5 May.

Firefinch directors say ‘vote yes’

Firefinch directors have unanimously recommended that Firefinch shareholders vote yes to the demerger. According to the company, every director intends to participate in the pro-rata offer.

Firefinch will subscribe for up to $20 million in Leo Lithium shares, which will be in addition to the pro-rata priority offer, to maintain a 20% interest. Firefinch says this reflects “the conviction Firefinch has in Leo Lithium”.

The pro-rata offer implies a 65% attribution of Firefinch’s market capitalisation to Leo Lithium.

Firefinch has released a shareholder letter and a prospectus for the demerged Firefinch entity.

Subject to ASX approval, it is anticipated that Leo Lithium shares will begin trading on 16 June.

Firefinch share price recap

The Firefinch share price is up 195% over the past 12 months and almost 22% in the year to date.

The post Firefinch share price leaps 16% on Leo Lithium demerger appeared first on The Motley Fool Australia.

More reading

• These 3 ASX mining shares leapt more than 10% on Friday
• Firefinch share price tumbles 6% despite meeting gold production guidance
• What’s with the Firefinch share price today?
• Is a bubble forming for ASX green metals shares?
• 3 ASX All Ords commodities shares smashing new highs today

Motley Fool contributor Bronwyn Allen 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 Bruce Jackson.

from The Motley Fool Australia https://ift.tt/D8Y7rfU

The broader market traded in the green on Friday and these ASX mining shares made the most of it.

As of Friday’s close, the All Ordinaries Index (ASX: XAO) and the S&P/ASX 200 Index (ASX: XJO) were both up 1.1%. Meanwhile, the S&P/ASX 200 Resources Index (ASX: XJR) underperformed, recording a gain of just 0.44%.

But these ASX miners didn’t let their sector’s poor performance slip them up. They each surged more than 10% in Friday’s trade. Let’s take a look at what boosted them today.

These ASX mining shares surged more than 10% today

Firefinch Ltd (ASX: FFX)

The Firefinch share price lifted to an intraday high of $1.14 today, representing a 17.5% gain.

It came as the ASX mining company released details on its plan to demerge its lithium assets.

The prospectus for the new company ­– to be named Leo Lithium – dropped this morning.

Firefinch shareholders will be granted one Leo Lithium share for every 1.4 Firefinch shares held. They can also choose to participate in a pro-rata offer.

The demerger scheme will face a shareholder vote next month.

Lithium Plus Minerals Ltd (ASX: LPM)

ASX mining newbie Lithium Plus rocketed 13% to an intraday high of $1.04.

The company listed on the ASX on Tuesday. Amazingly, its share price went 266% higher than its IPO’s offer price of 25 cents over its first three days of trading.

Lithium Energy Ltd (ASX: LEL)

The third ASX mining share to take off on Friday is Lithium Energy. Its share price lifted 23.7% to $1.51 at its highest point – a new all-time high.

There’s been no news from the company today. However, it announced yesterday that it’s been given the governmental green light to start work at its Solaroz Lithium Brine Project.

The post These 3 ASX mining shares leapt more than 10% on Friday appeared first on The Motley Fool Australia.

More reading

• Lithium Plus Minerals share price surges again, up 266% in only 3 days of trading
• Here’s why the Lithium Energy share price is shooting 16% higher
• Firefinch share price tumbles 6% despite meeting gold production guidance
• Lithium Plus Minerals share price explodes 180% on ASX debut
• What’s with the Firefinch share price 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 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/W8wLlBz

Shares in OceanaGold Corp (ASX: OGC) are up almost 8% in afternoon trade on Friday and are now trading at $3.43 apiece.

The OceanaGold share price has spent the entire day in the green after opening sharply higher alongside the company’s release of its quarterly update for the three months ending 31 March 2022.

The OceanaGold share price has climbed another 15% during the past month, continuing a three-month trend where shares thrust off a low of $2.07 in January.

OceanaGold bumps gold production

Key highlights for the quarter include:

• OceanaGold produced 134,035 ounces of gold, a 26% increase quarter-on-quarter
• Consolidated all-in sustaining costs (AISC) for the quarter of $1,084 per ounce on gold sales of 129,191ounces
• Record quarterly revenue of $286 million and record quarterly earnings before interest, tax, depreciation and amortisation (EBITDA) of $158 million
• Net profit after tax (NPAT) of $79 million
• Earnings per share (EPS) of 11 cents after full dilution
• Generated $63 million in free cash flow for the period
• Net debt, inclusive of equipment leases, reduced by 29% quarter on quarter to $168 million
• Leverage ratio of 0.40x and period-end gearing of 9%.

What else happened last quarter for OceanaGold?

The company saw a 26% increase in gold production compared to the previous quarter. The gain also signifies a 61% increase when compared to Q1 FY21.

OceanaGold reported “record quarterly production” at the Haile Gold Mine in South Carolina and a “solid quarter of production” at Didipio Mine in the Philippines. This was partially offset by decreased production at the company’s Waihi operation in the North Island of New Zealand.

Specifically, Waihi produced 6,752 ounces of gold, a 56% year on year gain, but a simultaneous 43% drop compared to last quarter.

In addition, the company’s reported AISC was 18% lower than the last quarter and 14% lower when compared to Q1 FY21.

Sales of $285 million carried down to EBITDA of $158 million, representing 37% and 78% quarter on quarter gains respectively.

However, EBITDA was 155% higher year on year “related to resumption of operations at Didipio and increased gold prices”.

Management commentary

Speaking on the results, OceanaGold CEO Gerard Bond said:

OceanaGold has started the year strongly with the first quarter safely delivering record quarterly revenue and EBITDA and significant free cash flow.

This quarter’s performance was underpinned by record quarterly gold production at our Haile operation in the United States and a very strong first quarter of full production at our Didipio operations in the Philippines.

At Haile, we are continuing to see the benefits of operational and productivity improvements that began in mid2021. At Didipio, the operation achieved full underground mining rates at the end of the first quarter, ahead of schedule by nearly one quarter.

What’s next?

The company was able to restate its full-year consolidated guidance of 445,000–495,000 ounces of gold and 11,000–13,000 tonnes of copper. It hopes to realise these sales at an AISC of $1,275–$1,375 and cash costs between $675–$775 per ounce sold.

Adding further comments, CEO Bond said the company remained “focused on safely and responsibly delivering on our production guidance for 2022, maximising free cash flow generation and progressing the attractive growth options in our portfolio”.

OceanaGold share price snapshot

The OceanaGold share price has climbed 52% over the past 12 months and is up more than 47% for the year to date.

The post OceanaGold share price lifts 8% on gold production boost appeared first on The Motley Fool Australia.

More reading

• Top broker tips Mineral Resources share price to rise 25%
• 3 ASX 200 energy shares storming to new 52-week highs today
• Why Kogan, Reliance, ResMed, and Sandfire shares are dropping
• The Domino’s share price just hit a 52-week low. Is it time to tuck into some?
• Why did the Westpac share price go backwards in April?

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/SJhZtE1

The Mineral Resources Limited (ASX: MIN) share price was a strong performer in April.

The mining and mining services company’s shares stormed 15% higher during the month.

Can the Mineral Resources share price keep rising?

The good news for investors is that one leading broker believes the Mineral Resources share price can keep climbing from here.

According to a note out of Goldman Sachs, its analysts have retained their buy rating and lifted their price target to $73.80.

Based on the current Mineral Resources share price of $58.54, this implies potential upside of 26% over the next 12 months.

Why is the broker so bullish?

There are a few reasons for Goldman’s bullish view on the Mineral Resources share price. This includes its compelling volume and earnings growth outlook and favourable iron ore and lithium prices. It explained:

“Compelling volume and earnings growth: We forecast a more than doubling of group EBITDA to over A$2bn in FY23 driven by higher lithium and low grade iron ore prices, and a 5% increase to mining services volumes to ~300Mt. Over the next 5yrs we expect MIN’s mining services volumes to increase ~50% to over 400Mtpa, lithium volumes to triple, and iron ore equity volumes to nearly double.

“Lithium spodumene price have settled at around US$4,500/t for the June Q. We are positive iron ore near term also – we forecast Fe to average US$145/t in 2Q22 (but see upside risk to this forecast on near term SD outlook) with seasonal weakness in Aus & Brazil supply from wet weather and an expected recovery in Chinese steel production. At spot lithium & iron ore our FY23 EBITDA would increase to >A$3bn.”

All in all, this could make Mineral Resources shares worth considering if you’re looking for exposure to the resources sector.

The post Top broker tips Mineral Resources share price to rise 25% appeared first on The Motley Fool Australia.

More reading

• Here’s why the Mineral Resources share price is leaping 5%
• 3 ASX 200 mining shares defying today’s sell-off to surge higher
• 5 things to watch on the ASX 200 on Wednesday
• Why Chalice Mining, EML Payments, Mineral Resources, and South32 shares are tumbling
• Why is the Mineral Resources share price sinking 9% today?

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

from The Motley Fool Australia https://ift.tt/rL4pk1e

After taking a beating on Tuesday, the first day of this shortened week’s trading, S&P/ASX 200 Index (ASX: XJO) energy shares are storming back.

In afternoon trading, the S&P/ASX 200 Energy Index (ASX: XEJ) is up 1% compared to a 0.8% gain posted by the ASX 200.

Energy prices have pulled back some from multi-year records in recent days on fears that China’s COVID-zero policies could see lockdowns expanded and crimp the nation’s voracious energy demand.

But with pre-existing energy supply shortages exasperated by Russia’s invasion of Ukraine, coal, crude oil, and gas remain at levels offering frothy profit margins to the top ASX 200 energy shares.

Below are 3 leading companies hitting fresh 52-week highs today to finish off the week and month.

EV charging plans spur investor interest

The first ASX 200 energy share breaking into new 52-week highs is Ampol Ltd (ASX: ALD).

Shares in the fuel station and convenience store operator are up 1.1% at the time of writing to $33.86. You have to go back to just before the pandemic-fuelled market rout in February 2020 to find the Ampol share price worth more.

Ampol shares received a boost earlier this month when the New Zealand Commerce Commission greenlighted its divestment of Gull for some NZ$509 million of cash to Allegro Funds Pty Ltd.

Today Ampol shares look to have gotten an additional boost following a media release reporting that it’s ramping up electric vehicle charging ambitions via its EV charging brand, AmpCharge.

Coal demand drives this ASX 200 energy share to another 52-week high

Moving on, ASX 200 energy share Whitehaven Coal Ltd (ASX: WHC) is also ratcheting up a new 52-week high… barely!

With shares retracing in late afternoon, the Whitehaven Coal share price stands at $4.98 per share at the time of writing, up a slender margin from yesterday’s close of $4.96.

Whitehaven Coal has benefited from record prices for coal, spurred by global conflict and supply shortages as demand has soared.

In the company’s quarterly report, released on 20 April, it reported receiving an average coal price of $315 per tonne, up from $101 per tonne in the first quarter of 2021.

Which brings us to…

The third ASX 200 energy share notching 52-week highs

The third company hitting fresh 1-year highs today is Viva Energy Group Ltd (ASX: VEA).

Viva energy shares are up 0.2% in late afternoon trade, having also retraced from earlier gains.

Still, at $2.80 per share, the Aussie energy retailer is trading at levels not seen since December 2019.

Last week the ASX 200 energy share provided a strong quarterly operational update, indicating its total sales volumes in 1Q22 increased 9% over the same period last year.

The post 3 ASX 200 energy shares storming to new 52-week highs today appeared first on The Motley Fool Australia.

More reading

• Ampol share price lifts amid electrifying new EV charging plans
• Why did ASX coal shares having such a stellar run on Thursday?
• 3 ASX 200 shares smashing new 52-week highs today
• Here are the top 10 ASX shares today
• How might the election outcome impact the outlook for ASX energy shares?

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/Hf4FRrK

The S&P/ASX 200 Index (ASX: XJO) is on form again and on course to end the week on a positive note. In afternoon trade, the benchmark index is up 0.95% to 7,426.8 points.

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

Kogan.com Ltd (ASX: KGN)

The Kogan share price has crashed 13% to a new multi-year low of $3.95. This morning the ecommerce company released its third quarter update and revealed that its sales fell 3.8% to $262.1 million. In addition, further margin weakness led to the embattled retailer reporting an operating loss of $0.8 million for period. Kogan also conceded that it has once again got it wrong with its inventory management.

Reliance Worldwide Corporation Ltd (ASX: RWC)

The Reliance share price is down 1.5% to $3.95. This follows the release of a trading update out of the plumbing parts company this morning. For the nine months ended 31 March, Reliance reported a 14% increase in sales to $845 million. This was overshadowed by margin pressures caused by higher input costs, which led to its EBITDA falling 8% year on year to $182.6 million.

ResMed Inc (ASX: RMD)

The ResMed share price is down 5% to $28.88. Investors have been selling this sleep treatment company’s shares after its quarterly update fell short of expectations. ResMed posted a 12% increase in revenue to US$864.5 million and a 2% lift in earnings per share to US$1.32. Goldman Sachs points out that this missed consensus estimates by 5% and 9%, respectively.

Sandfire Resources Ltd (ASX: SFR)

The Sandfire share price is down 3% to $5.65. This appears to have been driven by profit taking after a very strong gain on Thursday following its quarterly update. Though, analysts at Morgans think it is worth holding onto Sandfire’s shares. This morning the broker put an add rating and $7.50 price target on its shares.

The post Why Kogan, Reliance, ResMed, and Sandfire shares are dropping appeared first on The Motley Fool Australia.

More reading

• Reliance Worldwide share price slips despite sales growth
• ASX 200 midday update: ResMed disappoints, PointsBet rockets higher
• Here’s why the ResMed share price is sinking 6% today
• Kogan share price crashes 12% to multi-year low amid Q3 sales decline
• ASX 200 mining shares just had their best trading day in 5 weeks. What’s next?

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 Kogan.com ltd and Reliance Worldwide Corporation Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended ResMed. The Motley Fool Australia has positions in and has recommended Kogan.com ltd. The Motley Fool Australia has recommended Reliance Worldwide Corporation Limited and ResMed Inc. 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/1nRpzLH