ASX mining share Iceni Gold Ltd (ASX: ICL) surged today after the company revealed drilling had intersected gold at its Everleigh Well.

The company’s shares shot up 34.78% and finished the day at 15.5 cents. In afternoon trade, shortly after Iceni released the news, its shares surged by as much as 39% to 16 cents.

Let’s take a look at what this ASX mining share announced today.

Gold intersected

In an announcement to the ASX this afternoon, Iceni revealed gold was intersected in drilling at the Everleigh Well target area of the 14 Mile Well gold project area. This project is located in Laverton, Western Australia.

At hole FMDD0032, drilling intersected a “broad zone of structural disruption”. Gold was found at a downhole depth of 224.6 metres.

Iceni said geological analysis of structures, alteration, and gold associated with sulphides is “highly encouraging”.

Commenting on the results in a statement signed off by the board of the ASX mining share, the company said:

The observation of native gold associated with sulphides is significant as it demonstrates the structures at this location are carrying gold mineralisation.

This result opens up the potential for the Castlemaine Fault to host gold.

Iceni will do further analysis of the drill core to get a better insight into the geology and mineral system of the Everleigh target area.

This company considers a 30km long stretch within the project to be prospective for gold mineralisation.

Assay results for the drill hole are expected at the end of quarter two.

Iceni Gold share price summary

The Iceni Gold share price has plummeted 34% in the past year, while it has fallen 16% in the year to date. However, in the past month, this ASX mining share has rocketed by nearly 35%.

For perspective, the S&P/ASX 200 Index (ASX: XJO) has returned more than 8% in the past year.

Iceni Gold has a market capitalisation of 19.9 million based on its current share price.

The post Gold discovery sends this ASX mining share soaring 35% appeared first on The Motley Fool Australia.

More reading

• 3 ASX All Ordinaries shares rocking all-time highs today
• Why did the Woomera Mining share price surge 28% before being halted?
• Top brokers name 3 ASX shares to buy today
• 2 rapidly growing ASX shares that are on sale: experts
• Betmakers share price rockets 21% as new betting venture unveiled

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.

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Well, it was another top day of trading today for the All Ordinaries Index (ASX: XAO). The All Ords ended up finishing this Thursday at just under 7,900 points, its highest level since January.

But it was an even better day for some ASX All Ords shares. So here are three that managed to hit new all-time highs over today’s session.

3 All Ordinaries shares that just hit a new record high

Johns Lyng Group Ltd (ASX: JLG)

Building company Johns Lyng Group is our first share that’s had a happy occasion today. This All Ords share started trading at $9.10 a share this morning, but rose to $9.33 just before noon. That’s a new record high for Johns Lyng, and a long way from the company’s 52-week low of $3.86 a share.

There hasn’t been any official news out from the company that might explain this move. However, a top fund manager in WAM has just revealed why they like the company, which may have influenced today’s share price movements. Today’s move means that the Johns Lyng share price is now up an impressive 134% over the past 12 months.

The company closed just below this new high watermark at $9.22, up a healthy 2.67%.

Stanmore Resources Ltd (ASX: SMR)

All Ords mining company Stanmore Resources is up next today. This metallurgical coal share ended up closing at $2.11 today, up a pleasing 5.5%. That’s despite no new news out from the company.

But earlier in today’s session, Stanmore Resources hit a new all-time high of $2.14 a share. Again, that puts the company a long way from its 52-week low of just 30 cents. Over the past 12 months, Stanmore shares have gained a whopping 230%.

Aussie Broadband Ltd (ASX: ABB)

Fledgling All Ordinaries telco Aussie Broadband is our final share worth checking out today. In Aussie’s case, we saw an initial spike in trading today that is responsible for this company’s new all-time high of $6.03. That’s despite no news out of Aussie over April so far.

The shares ended up closing at $5.95 though, still up by 0.68% today. Aussie Broadband’s 95.4% return over the past 12 months has no doubt been pleasing for investors, who endured a 52-week low of $2.46 a share last year.

The post 3 ASX All Ordinaries shares rocking all-time highs today appeared first on The Motley Fool Australia.

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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. owns and has recommended Aussie Broadband Limited. The Motley Fool Australia has recommended Aussie Broadband Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Woomera Mining Ltd (ASX: WML) share price jumped 28% this morning before the company requested its shares be placed in a trading halt.

As such, the mineral explorer’s shares are frozen at 32 cents apiece. It’s worth noting that Woomera shares have surged by almost 90% over the past month.

What caused the trading halt?

During the early hours of the afternoon, Woomera requested its share price be halted while it prepares an announcement.

According to the release, the company is planning to make an announcement regarding the commencement of drilling at Mt Venn.

Woomera has requested that the trading halt remains in place until Tuesday 26 April or following the release of the announcement, whichever comes first.

What drove Woomera shares up 28%?

The Woomera share price rocketed by 28% before the trading halt was called. While details remain unknown about the company’s latest drilling campaign, we take a look at its previous announcements.

Woomera holds an 80% interest in the Mt Venn Joint Venture, located 125km northeast of Laverton in the Eastern Goldfields region of Western Australia. The remaining 20% stake is held by fellow Australian-based resources company, Cazaly Resources Limited (ASX: CAZ).

Recently, the company advised that a 2,000-metre reverse circulation (RC) drilling program will kick off at Mt Venn this month. This comes as the company discovered Ni-Cu-PGE mineralisation last year.

Ni-Cu-PGE stands for a number of different minerals. The first stands for nickel (Ni), and then copper (Cu). PGE represents a ‘platinum group elements’ consisting of palladium (Pd), iridium (Ir), osmium (Os), rhodium (Rh), and ruthenium (Ru).

Earlier this month, Woomera chair Ian Gordon commented:

Our flagship Mt Venn project has every chance of delivering a major new discovery and we look forward to getting on the ground in April in what will be a period of very exciting drilling activity for Woomera.

It appears investors are bracing for good things to come after the company delivered promising results from previous drilling campaigns.

About the Woomera share price

Since this time last year, Woomera shares travelled mostly sideways before rocketing over the past three weeks. Its shares have gained 40% for the 12-month period.

However, in 2022, Woomera shares have skyrocketed by 88% following strong price gains in the commodity markets.

Based on valuation grounds, the company has a market capitalisation of roughly $21.97 million, with approximately 686.83 million shares outstanding.

The post Why did the Woomera Mining share price surge 28% before being halted? appeared first on The Motley Fool Australia.

More reading

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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 Bruce Jackson.

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Many of Australia’s top brokers have been busy adjusting their financial models again, leading to the release of a large number of broker notes this week.

Three ASX shares brokers have named as buys this week are listed below. Here’s why they are bullish on them:

Bank of Queensland Limited (ASX: BOQ)

According to a note out of Citi, its analysts have retained their buy rating and $10.25 price target on this regional bank’s shares. The broker believes the post-result market selloff was unjustified and has created a buying opportunity for investors. It feel the current price to book value of 0.8x and dividend yield of 6%+ are too low for a bank that delivers ~9% cash return on equity. The Bank of Queensland share price is currently trading at $8.06.

Rio Tinto Limited (ASX: RIO)

Another note out of Citi reveals that its analysts have upgraded this mining giant’s shares to a buy rating with a $135.00 price target. This follows the release of Rio Tinto’s quarterly update, which revealed production that fell short of Citi’s forecasts. However, the broker notes that management has retained its full year guidance. And while Citi now expects the mining giant to achieve just the low end of its iron ore guidance range, a sharp increase to its iron ore price forecasts offsets this and boosts the broker’s earnings estimates. The Rio Tinto share price is fetching $116.66 today.

Santos Ltd (ASX: STO)

Analysts at Morgans have retained their add rating and lifted their price target on this energy company’s shares to $10.10. This follows the announcement of a US$250 million on-market share buyback. The broker believes this is a signal that management believes the current Santos share price is cheap despite it trading at multi-year highs. In addition, Morgans was pleased to see Santos prioritising shareholder returns, particularly during periods of elevated earnings. The Santos share price is trading at $8.39 today.

The post Top brokers name 3 ASX shares to buy today appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has 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.

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The Betmakers Technology Group Ltd (ASX: BET) share price exited a trading halt on Thursday with news of a major agreement.

Betmakers will be supplying technology and services to a new wagering venture – operated by a consortium made up of News Corporation (ASX: NWS); Tekkcorp Capital, run by Betmakers’ largest shareholder, Matt Davey; and TGW, a trust that counts gambling entrepreneur Matt Tripp among its investors.

As of Thursday’s close, the Betmakers share price is 78 cents, 20.93% higher than its previous close.

Let’s take a closer look at the news that’s got the market excited over the betting technology developer and provider.

Betmakers share price launches on major agreement

The Betmakers share price is rocketing on news the company will be involved with a new betting venture.

The venture – so far dubbed NTD – is planning to run a new online wagering product in Australia and New Zealand. It’s expected to be launched in the second half of 2022.

The company has entered into a 10-year exclusive agreement to provide the venture’s platform technology and wagering solutions.

The agreement will provide multiple revenue streams over its life and potentially culminate in more than $300 million of revenue.

Getting to the nitty-gritty, Betmakers will receive a $2 million platform establishment fee.

It will also get a launch development fee of $500,000 a month between signing and the ‘go live’ date. The ‘go live’ date is expected to be within the next six months.

From then, it will receive at least $7.5 million each year, increasing with CPI annually, for development and services.

Finally, Betmakers will get an annual fee based on a revenue-sharing arrangement.

The agreement will initially represent 25% of the venture’s ongoing net gaming revenue. Though, Betmakers’ share will drop by 1% each year as the business scales.

The revenue-sharing agreement will also be subject to an initial annual cap of $20 million. That cap will increase 10% each year for eight years and 5% each year thereafter.

Thus, on the final year of the agreement, Betmakers could receive $43 million.

All in all, the revenue sharing agreement represents approximately $313 million of potential revenue over its 10-year life.

Additionally, the agreement in its entirety will bring in a minimum of around $80 million in revenue over its life.

What did management say?

Commenting on the deal that has been powering the Betmakers share price today, CEO Todd Buckingham said:

We are delighted to have entered into this landmark agreement to be the [business-to-business (B2B)] supplier of wagering technology to a consortium with such high calibre investors, including a global media giant and two experts in wagering, Matt Tripp and Matt Davey …

We believe it validates our strategy and supports our view that the end-to-end B2B solution the company provides is an efficient and commercially viable way to successfully launch a wagering platform in today’s global wagering markets.

What else did Betmakers announce?

There are two other happenings announced by Betmakers today that could, feasibly, be impacting its share price.

First, the company announced that, under a previous strategic advisory agreement, Tripp has received 35 million performance rights for delivering a strategic deal.

Tripp has agreed to escrow the rights for three years in return for $15 million. He will continue to work with the company, exclusively advising on business-to-business opportunities.

Additionally, Davey is stepping down from the company’s board as of today.

Davey is the chair and CEO of Tekkorp Capital. He is leaving the board to devote his time to the new venture and other international pursuits.

“I’m excited to be handing over the reins to a very competent board that will now drive the company into the next phase of growth,” said Davey.

“As the largest shareholder in the company, I remain a committed shareholder that believes in the vision and direction of the company and hold great confidence the team is in place to execute on this strategy.”

Betmakers share price snapshot

Despite today’s gains, the Betmakers share price is still in the year-to-date red.

Right now, it’s 5% lower than it was at the start of 2022. It has also slipped 33% since this time last year.

The post Betmakers share price rockets 21% as new betting venture unveiled appeared first on The Motley Fool Australia.

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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. owns and has recommended Betmakers Technology Group Ltd. The Motley Fool Australia has recommended Betmakers Technology Group Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Some ASX shares are displaying rampant growth. Despite that, there are a number that have fallen heavily in recent times.

While a lower share price doesn’t mean a business is necessarily better value, it does mean that the market capitalisation has dropped, which some investors may view as attractive.

Here are two ASX shares that fit that description:

Volpara Health Technologies Ltd (ASX: VHT)

The Volpara share price has dropped by 30% over the last six months and is currently 87 cents.

It’s currently rated as a buy by the broker Morgans with a price target of $1.94. That implies a potential upside of around 120%.

The ASX healthcare share recently released its update for the three months to 31 March 2022.

The breast screening software business reported growth in a number of different areas. Its market share has reached 35.5% of US women being screened, up from the prior quarter of around 35%.

Its quarterly cash receipts from customers were up 48% to NZ$8 million year-on-year. Meanwhile, cash receipts for the year to 31 March 2022 were up almost 45% to around NZ$28.5 million.

Annual recurring revenue (ARR) has reached NZ$31.8 million. This was an increase of more than US$700,000 from the third quarter of FY22. The company said that its software-as-a-service (SaaS) churn remains low.

Average revenue per user (ARPU) over the installed base was US$1.51 at the end of March 2022.

The company signed distribution deals in Italy and the Middle East during the quarter.

Today, the company announced the appointment of its first female CEO, Teri Thomas.

Pilbara Minerals Ltd (ASX: PLS)

The Pilbara Minerals share price has declined by more than 20% since 4 April this year to $2.85.

This ASX share is rated as a buy by the broker Citi, with a price target of $3.60. That implies a potential rise of more than 25% over the next year.

Citi notes the strong lithium price and this is expected to stay high for longer than initially expected.

The quarterly production in the three months to March 2022 by Pilbara Minerals was 81,431 dry metric tonnes (dmt) of spodumene concentrate. The average realised sales price in the quarter was around US$2,650.

The next Battery Material Exchange (BMX) auction is targeted in the last week of April, with 5,000 dmt planned for delivery during June 2022.

FY22 annualised production guidance is expected to be between 340,000 dmt and 380,000 dmt.

The rise in lithium prices is helping the company’s financials. FY22 half-year sales revenue jumped almost 400% to $291.7 million. It grew its earnings before interest, tax, depreciation, and amortisation (EBITDA) to $151.1 million, up from $3.2 million.

When the lithium ASX share released its FY22 half-year result, the Pilbara Minerals managing director Ken Brinsden said:

The outlook for Pilbara Minerals in the second half of FY22 and beyond remains extremely bright. The current momentum in lithium markets continues to demonstrate higher price outcomes and we are very well placed to participate in this as production and sales volumes from the combined Pilgangoora operation continue to increase. I am confident that a combination of hard work, innovation and focus on production growth will continue to drive our success.

The post 2 rapidly growing ASX shares that are on sale: experts appeared first on The Motley Fool Australia.

More reading

• Why is it such a mixed day of trade for ASX lithium stocks?
• Volpara share price slips despite milestone CEO change
• Macquarie is tipping another 40% upside for the Pilbara Minerals share price. Here’s why
• Here are the 3 most heavily traded ASX 200 shares on Wednesday
• What are the 10 biggest ASX shares in the lithium space

Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended VOLPARA FPO NZ. The Motley Fool Australia owns and has recommended VOLPARA FPO NZ. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The resources sector has been on form this year and has played a key role in driving the ASX 200 to within a whisker of its record high.

The good news is that analysts still believe there are plenty of gains ahead for shares in the sector.

For example, the two ASX mining shares listed below have recently been tipped as buys with material upside. Here’s what you need to know about them:

Iluka Resources Limited (ASX: ILU)

The first ASX 200 mining share that could be in the buy zone is Iluka. It is a mineral sands and rare earths producer with a number of quality operations across South Australia, Western Australia, and Sierra Leone. Though, the company is in the process of demerging the latter into a separate ASX listing.

Goldman Sachs is very positive on the company. The broker highlights its attractive valuation, the favourable outlook for mineral sands, and its exposure to rare earths. Goldman explained:

“We are Buy rated on mineral sands/rare earth producer ILU (on CL) on attractive valuation and compelling Zircon and TiO2 price upside and Rare Earth growth potential. ILU is trading at a >50% discount to RE peers and >10% discount to min sands/pigment peers on an EV/EBITDA basis.

ILU recently announced the long awaited approval of the 17.5ktpa TREO (4ktpa NdPr) Eneabba Phase 3 Rare Earth Refinery (ERER) in Western Australia and a compelling risk sharing arrangement with the Australian Government, including a A$1.25bn non-recourse loan, to be paid back by 2032. Construction of the refinery will commence in 2H 2022, with first production expected in 2025. We value the ERER at ~A$3.2bn (A$7.5/sh) with a calculated IRR of c.30%, assuming feed from ILU’s Wimmera project in Victoria from 2026.”

The broker currently has a conviction buy rating and $14.00 price target on Iluka’s shares.

Mineral Resources Limited (ASX: MIN)

Another ASX 200 mining share that could be in the buy zone is Mineral Resources. Is it a mining and mining services company with a focus on two in-demand commodities – iron ore and lithium.

The team at Citi is very positive on the company, particularly given its recent decision to increase lithium production in response to the insatiable demand for the battery making ingredient. Citi commented:

“MIN plans to double spodumene processing capacity (mixed 6% concentrate, and a lower grade product) at Mount Marion lithium mine (MIN 50%) to 900 ktpa by the end of CY22, after capital investment of $120m. At Wodgina (MIN 40%), the production restart of processing Train 1 is ahead of schedule, now expected in May 2022. And processing Train 2 is now scheduled to restart in July 2022.

MIN’s expansion and restart plans are in response to strong market demand for lithium products. MIN’s share of the expanded equivalent 6% spodumene concentrate (650 ktpa) equals around 100 ktpa of LCE (by lithium units). For context, Allkem Ltd’s (AKE) targeted FY22 production capacity is 50 ktpa LCE (on a 100%), and FY26 capacity is 145-to-158 ktpa LCE.”

Citi has a buy rating and $76.00 price target on Mineral Resources’ shares.

The post Here’s why brokers love these ASX 200 mining shares appeared first on The Motley Fool Australia.

More reading

• Why is it such a mixed day of trade for ASX lithium stocks?
• What are the 10 biggest ASX shares in the lithium space
• Top brokers name 3 ASX shares to sell today
• Why Bank of Queensland, Iluka, New Hope, and Zip shares are falling today
• Which ASX lithium shares does Macquarie tip to outperform?

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

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It would be a safe bet that the Appen Ltd (ASX: APX) share price has not been a favourite amongst most ASX investors in recent times. This former ASX tech darling has certainly had a painful fall back to earth in recent months. A year ago, Appen was priced at $15.64. In August 2020, it was asking over $40 a share. Today? Appen is currently at $6.69, down a nasty 40% in 2022 alone so far.

The human annotated dataset company has been struggling with uncertainty in its field, which has led to guidance downgrades and a savage earnings multiple compression from investors as a result.

As Appen shares have fallen, its dividend yield has been rising…

But it hasn’t been all bad news for investors. As we covered earlier this month, Appen has been consistently raising its dividend behind the scenes in recent years, even as the company faces the woes discussed above. In 2017, when the company was last facing a share price with a ‘6’ in front of it, it doled out a total of 6 cents in dividends per share.

In 2021, the company paid out 20 cents per share, a good 67% increase on 2017’s payouts. This has helped push Appen’s dividend yield to record highs. A dividend yield is a function of a company’s raw dividends per share, and its share price. Thus, a lower share price combined with rising dividends per share is a recipe for a higher dividend yield. And that is exactly what’s been happening with Appen.

So on current pricing, Appen’s 10 cents per share in dividends gives the company a dividend yield of 1.52%. That’s likely close to the highest dividend yield new investors have ever seen in front of the Appen share price. Appen’s recent and painful share price fall certainly has this silver lining to consider

At the current Appen share price, this ASX 200 tech share has a market capitalisation of $827.9 million, with a price-to-earnings (P/E) ratio of 21.98.

The post Appen shares may be at a 5-year low, but their dividend yield has never been higher appeared first on The Motley Fool Australia.

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• What is the Betashares Geared Australian Equity Fund and is it worth buying?
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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. owns and has recommended Appen 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 Bruce Jackson.

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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on form again and pushing higher. At the time of writing, the benchmark index is up 0.4% to 7,601.3 points.

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

Betmakers Technology Group Ltd (ASX: BET)

The Betmakers share price is up 17% to 75.7 cents. This afternoon the betting technology company revealed that it has been selected as the exclusive technology and services provider in Australia and New Zealand for a new online sports betting venture with News Corp (ASX: NWS). The 10-year contract includes a revenue share arrangement with potential revenues greater than $300 million. As one of the most shorted ASX shares, short sellers may be wishing they had closed their positions sooner.

Brambles Limited (ASX: BXB)

The Brambles share price is up 8% to $10.83. This morning the logistics solutions company released a trading update which revealed that year to date sales were up 7% to US$4,067 million during the first three quarters of FY 2022. This was stronger than the company was expecting, leading to management upgrading its full year sales and earnings guidance.

Challenger Ltd (ASX: CGF)

The Challenger share price is up 10% to $7.53. This follows the release of the annuities company’s third quarter update. That update revealed solid growth across its Life business, which has led to management making a soft upgrade to its FY 2022 guidance. It now expects to hit the upper end of its normalised net profit before tax guidance of $430 million to $480 million.

Stockland Corporation Ltd (ASX: SGP)

The Stockland share price is up 3% to $4.22 following the release of the property company’s quarterly update. Stockland revealed that it had a strong quarter, with 95% of commercial property rent collections made and high occupancy levels maintained. This led to management reiterating its full year guidance.

The post Why Betmakers, Brambles, Challenger, and Stockland shares are charging higher appeared first on The Motley Fool Australia.

More reading

• 3 ASX 200 stocks smashing 52-week highs today
• Here’s why the Brambles share price is soaring 7% today
• ASX 200 midday update: BHP, Megaport, and Zip release Q3 updates
• ‘Exciting opportunity’: Why the Challenger share price just leapt 8%
• Betmakers share price halted amid reports of major News Corp deal

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. owns and has recommended Betmakers Technology Group Ltd. The Motley Fool Australia has recommended Betmakers Technology Group Ltd and Challenger Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Multiple ASX coal shares are struggling today. Three ASX coal shares are Whitehaven Coal Ltd (ASX: WHC), Yancoal Australia Ltd (ASX: YAL) and New Hope Corporation Limited (ASX: NHC).

Yancoal is 4.7% in the red today while New Hope is descending 2.3%. Meanwhile, Whitehaven Coal is climbing 0.73% For perspective, the S&P/ASX 200 Index (ASX: XJO) is up 0.4% today.

Let’s take a look at what might be impacting ASX coal shares today.

Coal export outlook ‘bleak’

Australian National University researchers published a study today predicting a “bleak” outlook for coal exports from Australia.

Modelling by the researchers found China thermal imports could fall by at least 26%, from 210 megaton to 155 megaton annually between 2019 and 2025.

Commenting on the report, lead author Dr Jorrit Gosens said:

Our findings are clear: Beijing’s plans for rapid decarbonisation and energy security signal the end for Australia’s current coal export boom.

And this isn’t going to happen far off into the future; it is imminent.

Fund manager Alex Turnbull and ANU climate change economics professor Frank Jotzo were also co-authors on the report.

Meanwhile, Yancoal released quarterly results to the market after close yesterday.

Total saleable coal production fell 13% on the previous quarter to 8.1 million tonnes (Mt). Sales volume also fell 21% to 7.8 Mt. However, the average realised price of coal surged 23% to $258 per tonne. Yancoal attributed this fall in production to the impact of COVID-19 on labour.

Commenting on the coal prices, CEO David Moult said:

Our average realised coal price for 1Q 2022 comprised a thermal coal average realised price of A$243/tonne and a metallurgical coal average realised price of A$349/tonne; both were close to three times the prices achieved just 12 months ago.

Share price summary

The Whitehaven share price has surged 233% in a year, while Yancoal has risen 121%. Meanwhile, New Hope shares have rocketed 164%.

In contrast, the benchmark ASX 200 has increased about 8% in the past year.

The post Why are some ASX coal shares flaming out today? appeared first on The Motley Fool Australia.

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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.

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