The S&P/ASX 200 Index (ASX: XJO) has just hit 7,600 points today so far after another session of pleasing gains. At the time of writing, the ASX 200 has added another 0.45% and is sitting at just over 7,600 points.

But let’s dive a little deeper into these market moves by taking a look at the shares topping the ASX 200’s volume charts right now, according to investing.com.

The 3 most-traded ASX 200 shares by volume this Thursday

BHP Group Ltd (ASX: BHP)

The Big Australian is not an ASX 200 share that often graces this list. But here we are. So far today, a hefty 9.96 million BHP shares have swapped hands. This comes after the mining giant delivered its quarterly operational update this morning covering the three months to 31 March.

As my Fool colleague James ent through, this update didn’t seem to fulfil all investors’ expectations. This is further evidenced by BHP’s nasty 2.6% drop today to just under $51 a share at the time of writing. It’s this combination that has probably led to some higher-than-normal trade volumes for the miner.

Alumina Limited (ASX: AWC)

Another ASX 200 resources share in Alumina is next up. This aluminium producer has had a notable 11.62 million shares change owners so far today. There has been no news out of Alumina itself.

However, Alumina’s partner, the US-based Alcoa, has just reported its own set of quarterly earnings as well. Investors don’t seem too impressed though, given that the Alumina share price is currently down a depressing 3.6% at $1.88 a share. It’s this steep drop that is likely the cause of the elevated trading volumes we are seeing.

Telstra Corproation Ltd (ASX :TLS)

ASX 200 telco Telstra is our third and final share to take a gander at this Thursday. So far today, a sizeable 13.06 million Telstra shares have been bought and sold on the markets. In this case, there are no news or announcements out of the company to speak of at all, save for a routine share buyback notice.

So it could be some share buybacks, as well as the 0.4% gain Telstra has notched so far today to $4.04 a share, which could be behind this high volume of shares that have been traded thus far 

The post Here are the 3 most heavily traded ASX 200 shares on Thursday appeared first on The Motley Fool Australia.

More reading

• Why Australian Ethical, BHP, Endeavour, and Megaport shares are tumbling today
• Why is the CBA dividend so low compared to the other ASX 200 banks?
• Here’s why the BHP share price is tumbling lower today
• ASX 200 midday update: BHP, Megaport, and Zip release Q3 updates
• What is the Betashares Geared Australian Equity Fund and is it worth buying?

Motley Fool contributor Sebastian Bowen owns Telstra Corporation 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 owns and has recommended Telstra Corporation 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 Talga Group Ltd (ASX: TLG) share price is on the move today following a positive update from the company.

Earlier this afternoon, the technology minerals provider’s shares were up 5.45% at $1.74 apiece. However, they have since fallen back and are currently up 1.52% at $1.68.

Talga advances permit process on northern Swedish mine

In today’s statement, Talga advised its environmental permit application for the Vittangi graphite project has progressed.

The significant milestone comes as the Swedish Land and Environment Court provided a preliminary timetable for the next steps. This includes a formal hearing for the development of a graphite mine and concentrator at the Nunasvaara South deposit.

Talga noted the “announcement follows rigorous scrutiny of submitted application documentation and extensive consultation with relevant authorities over several years”.

Nonetheless, based on the court’s schedule, the application needs to be submitted before 23 June 2022. A formal hearing is being planned for some time in the European autumn of 2022.

It’s worth noting that this is the last step before the court hands down its verdict for the environmental permit application.

The initial Vittangi graphite project operation, fed from the Nunasvaara South mine, is aiming to produce 19,500 tonnes per annum of Talga’s flagship battery anode product Talnode-C over 24 years.

Commenting on the news that appears to be boosting the Talga share price, managing director Mark Thompson said:

We are very pleased to attain this milestone in the permitting process for our integrated graphite mine-to-anode development in northern Sweden.

Now more than ever the need for secure, local and green graphite anode is critical for the building of lithium-ion battery value chains. Following years of diligent work and investment in the unique graphite source of Vittangi, we look forward with confidence to the Court’s decision.

Talga share price summary

Since the beginning of the year, the Talga share price moved mostly sideways, posting a 3% gain for the period.

However, when looking at the last 12 months, its share price is up around 21%.

Based on today’s price, Talga commands a market capitalisation of roughly $519.52 million.

The post Talga shares jump on ‘milestone’ news appeared first on The Motley Fool Australia.

More reading

• Why BHP, Core Lithium, Tabcorp, and Talga shares are racing higher
• Talga (ASX:TLG) share price rockets 17% on EV battery news

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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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to extend its winning streak. At the time of writing, the benchmark index is up 0.45% to 7,602.5 points.

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

Australian Ethical Investment Limited (ASX: AEF)

The Australian Ethical share price is down 7% to $6.19. This follows the release of the fund manager’s third quarter funds under management (FUM) update. That update revealed that Australian Ethical’s FUM fell 1.9% during the quarter to $6.83 billion. This was due to a combination of softening inflows and negative market movements.

BHP Group Ltd (ASX: BHP)

The BHP share price is down over 2.5% to $50.90. Investors have been selling the mining giant’s shares following the release of its third quarter update. That update revealed that COVID-19 related disruptions have been weighing on its operations and led to much of its production missing consensus estimates. And while the Big Australian has reaffirmed most of its production and unit cost guidance for FY 2022, it was forced to make some downgrades.

Endeavour Group Ltd (ASX: EDV)

The Endeavour share price has dropped 4% to $7.54. This morning the alcohol retailer released a trading update for the third quarter. That update revealed that sales dropped 2.1% over the prior corresponding period to $2,728 million. This was driven by the Easter holidays falling into the fourth quarter this year and the impact of the floods on sales in certain markets.

Megaport Ltd (ASX: MP1)

The Megaport share price has crashed 20% to $10.24. Investors have been selling this network as a service provider’s shares after its third quarter update disappointed. For the three months ended 31 March, Megaport reported only modest quarter on quarter revenue growth of 5% to $27.9 million. This appears to have left the company with an uphill struggle to achieve the market’s full year expectations.

The post Why Australian Ethical, BHP, Endeavour, and Megaport shares are tumbling today appeared first on The Motley Fool Australia.

More reading

• Why the Australian Ethical share price has tumbled 7%
• Here’s why the BHP share price is tumbling lower today
• ASX 200 midday update: BHP, Megaport, and Zip release Q3 updates
• Here’s why the Megaport share price is tumbling 18% today
• ‘Another period of volatility’: What’s going on with the Endeavour share price 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. owns and has recommended Australian Ethical Investment Ltd. and MEGAPORT FPO. The Motley Fool Australia has recommended Australian Ethical Investment Ltd. and MEGAPORT FPO. 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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When it comes to the major bank shares on the S&P/ASX 200 Index (ASX: XJO), it’s fair to say that dividends are an expectation. Almost every bank share on the ASX pays a dividend, and in turn, many investors have come to expect dividends from their bank shares. This is especially so with the big four banks like Commonwealth Bank of Australia (ASX: CBA). 

All four of the major banks have paid out fairly consistent and large dividends for decades. In fact, the start of the COVID-19 pandemic in 2020 marked one of the first serious disruptions to this paradigm in many years.

Now CBA may be a favourite amongst ASX bank investors. But as it stands today, CBA shares actually offer the lowest dividend yield out of the big four. Right now, Westpac Banking Corp (ASX: WBC)’s trailing dividend yield stands at 4.8%. Australia and New Zealand Banking Group Ltd (ASX: ANZ) leads the pack with its 5.05% yield. National Australia Bank Ltd. (ASX: NAB) currently has 3.77% on the table. But CBA is the definite loser here with its present 3.47% yield right now.

So we have ANZ with a 5.05% yield, while CBA lags with a 3.47% yield. That’s a big difference.

Why is the CBA dividend yield so low?

But why are CBA shares offering such a low yield compared with its peers?

Well, it’s less to do with the raw dividends being doled out than the valuation that investors are placing on the bank. See, CBA has a payout ratio policy when it comes to its dividends. The bank aims to pay out 70% and 80% of its earnings as dividends. This policy is more or less the same across the big four banks. 

So it’s CBA’s valuation that is a factor here. Investors have long given CBA shares a valuation premium, a situation that continues today. Right now, the CBA share price commands a price-to-earnings (P/E) ratio of 20.12. In contrast, NAB currently has a P/E ratio of 17.67. Westpac is about the same at 17.7, while ANZ is down at 13.51.

This pretty much explains why ANZ’s dividend is currently the highest out of the big four, while CBA’s is the lowest. If CBA traded on the same P/E ratio as ANZ, its share price would be far lower, and thus, its dividend yield far higher. Ditto in reverse for ANZ.

So that, in a nutshell, is why CBA is lagging behind its peers in the dividend arena. In situations like this, success for the CBA share price does have its drawbacks. But long-term investors are probably not too bothered.

At the current CBA share price, this ASX 200 bank has a market capitalisation of $182.99 billion.

The post Why is the CBA dividend so low compared to the other ASX 200 banks? appeared first on The Motley Fool Australia.

More reading

• Westpac share price lifts despite $12 million ASIC fine
• ASX 200 midday update: BHP, Megaport, and Zip release Q3 updates
• What is the Betashares Geared Australian Equity Fund and is it worth buying?
• 5 things to watch on the ASX 200 on Thursday
• Here are the top 10 ASX shares today

Motley Fool contributor Sebastian Bowen owns National Australia Bank 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 recommended Westpac Banking Corporation. 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 Redbubble Ltd (ASX: RBL) share price is up by more than 3% after the company provided investors with its trading update for the three months to 31 March 2022.

For readers who don’t know, Redbubble owns and operates the marketplace websites Redbubble.com and TeePublic.com. Those websites sell products with ‘uncommon’ designs on them that have been created by artists. Some of the products sold include apparel, stationery, housewares, bags, wall art, and so on.

Redbubble FY22 third quarter

Redbubble said that its third-quarter performance was largely in line with its expectations.

It processed $123 million of gross transaction value, which was a decline of 8%. This led to marketplace revenue declining by 7% to $96 million. Quarterly gross profit was down 9% to $36 million.

Its quarterly operating earnings before interest, tax, depreciation, and amortisation (EBITDA) was a loss of $6 million, while total EBITDA was a loss of $10 million.

The company noted that it had a strong overall retention rate with 47% of group marketplace revenue coming from repeat purchases in the third quarter. This was an all-time high for the group.

Management said that repeat rates among Redbubble members are higher than non-members, suggesting that there is a longer-term opportunity from expanding memberships.

The ‘COVID cohort’ – customers that made their first Redbubble purchase in the six months to 31 December 2020 – repeat purchase rate within 12 months was “strong” at 20.3%. Redbubble said this was an encouraging indication of the company’s ability to retain COVID cohort customers and build loyalty with a large number of customers.

FY22 year to date

With the third quarter of FY22 finished, Redbubble was able to tell investors about the company’s performance for the financial year to date (YTD) for the nine months to March 2022.

It has generated marketplace revenue of $384 million, which was a decline of 16%. However, excluding mask sales from FY21, the underlying marketplace revenue was down 4% to $376 million.

Year to date gross profit was down 22% to $144 million. It has generated $4.5 million of operating EBITDA in FY22 so far. But, total EBITDA was a loss of $2.3 million, impacted by $1.9 million of unrealised net foreign exchange losses.

Leadership commentary on the Redbubble share price

Redbubble’s board commented on the declining price of Redbubble shares (and other technology names):

Regarding the recent share price movements experienced across the broader technology sector, including Redbubble, the board does not believe that the current share price reflects the fundamentals and prospects of the business.

The company said that it continues to actively investigate value-enhancing options on behalf of all stakeholders. This includes both ‘organic’ and ‘inorganic’ opportunities that could help grow the value of the business.

Guidance

Redbubble is still expecting FY22 marketplace revenue to be slightly below FY21’s underlying marketplace revenue. The FY22 EBITDA margin as a percentage of marketplace revenue is expected to be negative in the low single digits.

It’s still aiming, in the medium-term, to grow gross transaction value to more than $1.5 billion, which will mean $1.25 billion of marketplace revenue. The EBITDA margin is expected to expand “significantly” over the medium-term with top-line growth.

Redbubble share price snapshot

Since the start of 2022, the Redbubble share price has dropped by around 60%. At the time of writing, Redbubble shares are swapping hands for $1.30.

The post Redbubble share price lifts despite 20% profit hit appeared first on The Motley Fool Australia.

More reading

• Why is it such a mixed day of trade for ASX lithium stocks?
• What unusual ‘windfall’ is shooting this ASX share price 100% higher?
• The Rio Tinto dividend was paid today. Here’s the lowdown
• 3 ASX 200 stocks smashing 52-week highs today
• The Core Lithium share price is sinking 6% today. Why?

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 REDBUBBLE FPO. 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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ASX lithium stocks are staging various performances on Thursday, with some smashing the market and others struggling to stay afloat.

The diverse set of movements come as the S&P/ASX 200 Index (ASX: XJO) records a slight gain of 0.3% and the S&P/ASX Materials Index (ASX: XMJ) slumps 1.3%.

And while there’s not much news to explain what’s going on with ASX lithium stocks today, there are plenty of international happenings regarding the battery-making metal.

Let’s take a look at what’s going on with ASX lithium stocks on Thursday.

What’s going on with ASX lithium stocks today?

It’s a strange day for ASX lithium stocks.

Right now, the Mineral Resources Limited (ASX: MIN) share price is rising 1.6%. Meanwhile, stock in Pilbara Minerals Ltd (ASX: PLS) is up 0.18%, and the Piedmont Lithium Inc (ASX: PLL) share price is 0.25% in the green.

Others, like Allkem Ltd (ASX: AKE) and Liontown Resources Limited (ASX: LTR), are trading in line with their sector. They’ve fallen 1.2% and 1.7% respectively.

However, others lithium stocks are tumbling. Right now, the share price of Core Lithium Ltd (ASX: CXO) is slumping 5.4%. That of AVZ Minerals Ltd (ASX: AVZ) is also down, having fallen 5.5%.

Why is lithium in the headlines?

The battery making ingredient has been in the news this week on anticipation Tesla Inc (NASDAQ: TSLA) could be looking to acquire a lithium producer.

Tesla co-founder and CEO, Elon Musk, tweeted earlier this month the company might need to source its own lithium if the price of the commodity doesn’t ease.

Price of lithium has gone to insane levels! Tesla might actually have to get into the mining & refining directly at scale, unless costs improve.

There is no shortage of the element itself, as lithium is almost everywhere on Earth, but pace of extraction/refinement is slow.

— Elon Musk (@elonmusk) April 8, 2022

https://platform.twitter.com/widgets.js

That’s sparked hopes the company could be looking to looking for a lithium producer to acquire, Reuters reported yesterday.

In other lithium news, Mexico’s Senate has passed legislation to nationalise the mineral’s extraction, reports the Associated Press. That means the only entity able to produce lithium in the nation will be a not-yet-created state-owned mining company.

Additionally, lithium carbonate prices in China have eased in recent days after exploding earlier in the year.

The international news may not be behind any ASX lithium stocks’ movements today. However, it might be bolstering interest in the sector.

The post Why is it such a mixed day of trade for ASX lithium stocks? appeared first on The Motley Fool Australia.

More reading

• The Core Lithium share price is sinking 6% today. Why?
• 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
• Here are the top 10 ASX shares 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. owns and has recommended Tesla. 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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Shares of Terragen Holdings Ltd (ASX: TGH) doubled earlier today, up 100% at 27 cents apiece. They have since partially retreated and are currently swapping hands for 24 cents apiece, still an impressive 78% gain on yesterday’s closing price.

Investors are bidding up this ASX share on the back of a company announcement that suggests Terragen’s Mylo feed supplement reduces methane in dairy cows.

While it’s been a fairly consistent walk downwards for Terragen’s shareholders over the past five years, today’s announcement marks a new direction for the developer of agricultural bio solutions.

What did this ASX share announce?

The Terragen share price took off this morning after the company announced the results from research conducted at dairy research farm, Elinbank SmartFarm.

Testing involved 40 lactating cows separated into groups, with one cohort receiving Terragen’s Mylo organic feed supplement at 10mL/day for 40 days.

“Mylo, in use across 125 Australian dairy farms, is one of the tools a livestock producer can use to increase productivity, reduce methane emissions and meet sustainable agriculture goals,” Terragen says.

One in three Australian dairy cows use the product daily, and it offers the farmer a return on investment “of at least 5:1”, the company says.

The study’s findings showed that those cows receiving Mylo in that protocol produced 7.5% less methane per litre of milk and gained 21% more weight than control cows.

“This research indicates that Mylo can reduce methane emissions by the equivalent of 100 tonnes of CO2 per 350-cow dairy farm per year,” it added.

“More research at Ellinbank SmartFarm is planned to determine if higher doses of Mylo will reduce methane emissions further.”

Terragen also said its findings have implications for the broader beef industry due to the amount of weight cattle gained by including its product in feed.

Despite today’s gains, this ASX share is still almost 30% in the red for the past 12 months.

The post What unusual ‘windfall’ is shooting this ASX share price 100% higher? appeared first on The Motley Fool Australia.

More reading

• The Rio Tinto dividend was paid today. Here’s the lowdown
• 3 ASX 200 stocks smashing 52-week highs today
• The Core Lithium share price is sinking 6% today. Why?
• Australia’s first Bitcoin ETF is listing next week. Here’s what you need to know
• Volpara share price slips despite milestone CEO change

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 Bruce Jackson.

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The Rio Tinto Limited (ASX: RIO) share price is edging lower amid the company’s eligible shareholders being rewarded today.

The mining giant’s shares are currently down 1.32% to $116.74 apiece.

In context, the S&P/ASX 200 Index (ASX: XJO) is climbing during Thursday trade. The benchmark index is up 0.36% to 7,596.2 points.

Rio Tinto pays out FY21 final dividend

Rio Tinto reported record numbers across key metrics in its full year results for the 2021 financial year.

In summary, net cash from operating activities jumped 60% year-on-year to US$25.35 billion. This was driven by higher commodity prices.

Subsequently, this flowed through to 88% higher free cash flow of $17.7 billion for the company.

Underlying earnings before interest, tax, depreciation and amortisation (EBITDA) soared 58% to US$37.72 billion.

At the end of the calendar year, Rio Tinto had $1.6 billion of net cash, compared with net debt of $0.7 billion at the start of the year.

As such, the board declared a fully franked dividend of $6.6284 per share to be paid on 21 April (today). This comprises of the 2021 final dividend of $5.7704 per share and a $0.8580 per share special dividend.

For those who elected in the dividend reinvestment plan (DRP), there was no discount rate offered by the company.

The $16.8 billion full-year dividend represents a payout of 79% of underlying earnings. This is above management’s policy of retuning between 40% to 60% of underlying earnings to shareholders.

Rio Tinto share price summary

Despite moving in circles during recent times, the Rio Tinto share price has gained 16% in 2022.

When looking at the last 12 months, its shares have backtracked to post a loss of around 3%.

Rio Tinto has a price-to-earnings (P/E) ratio of 9.01 and commands a market capitalisation of roughly $43.33 billion.

The post The Rio Tinto dividend was paid today. Here’s the lowdown appeared first on The Motley Fool Australia.

More reading

• Is the Rio Tinto share price in the buy zone after its quarterly update?
• Why AGL, Hub24, Rio Tinto, and Zip shares are dropping
• What are the 10 biggest ASX shares in the lithium space
• ASX 200 midday update: Ramsay rockets and Rio Tinto disappoints
• Rio Tinto share price falls on weak Q1 update

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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Another day, another set of S&P/ASX 200 Index (ASX: XJO) shares launching to long-forgotten heights. Let’s take a look at the ASX 200 stocks taking out their previous 12-month records on Thursday.

Today is proving to be another good day on the market, with the celebrated index recording its fifth consecutive session of gains. Right now, the ASX 200 is 0.28% higher than where it ended Wednesday’s trade.

And these ASX 200 stocks are helping to boost it higher.

3 ASX 200 stocks launching to new 52-week highs

Origin Energy Ltd (ASX: ORG)

The Origin share price is hitting another post-COVID-19 high on Thursday, launching 3.1% at its intraday high to trade at $6.89.

There’s been no news to explain the ASX 200 energy producer and retailer’s stock’s gain. However, it’s also a good day on the market for many of its peers.

Right now, the S&P/ASX 200 Energy Index (ASX: XEJ) is up 0.9% while the S&P/ASX 200 Utilities Index (ASX: XUJ) is up 2%.

Challenger Ltd (ASX: CGF)

The Challenger share price is also leaping to a new 52-week high of $7.52. That represents a 10.1% increase on its previous closing price.

The gain follows the release of the ASX 200 stock’s quarterly update, which saw it in line to achieve the high end of its financial year 2022 guidance.

Challenger’s home sector – the S&P/ASX 200 Financials Index (ASX: XFJ) – is also having a good day, gaining 1.2%.

APA Group (ASX: APA)

The final ASX giant reaching a new 12-month record on Thursday is APA.

After besting its previous 52-week high only yesterday, the APA share price is at it again.

It launched 2% at its highest point of Thursday to trade at $4.50 ­– the highest it’s been since August 2020.

There hasn’t been news from the ASX 200 energy infrastructure stock since February.

However, earlier this week Cooper Energy Ltd (ASX: COE) announced the pair had extended their transition agreement for the Orbost Gas Processing Plant to 30 June.

The post 3 ASX 200 stocks smashing 52-week highs today appeared first on The Motley Fool Australia.

More reading

• ASX 200 midday update: BHP, Megaport, and Zip release Q3 updates
• Are Origin Energy shares really trading on a 3% dividend yield?
• ‘Exciting opportunity’: Why the Challenger share price just leapt 8%
• The APA share price just powered to a 52-week high
• 3 ASX 200 shares hopping to new 52-week highs 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 owns and has recommended APA Group. The Motley Fool Australia has recommended 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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The Core Lithium Ltd (ASX: CXO) share price is in the red today despite no news from the company.

The company’s shares are currently swapping hands at $1.385, a 5.78% fall. In contrast, the S&P/ASX 200 Index (ASX: XJO) is rising 0.3% today.

So, what’s happening with Core Lithium today?

Lithium prices ease

The Core Lithium share price may be sliding today, but it is not the only ASX lithium share to fall. The Allkem Ltd (ASX: AKE) share price is 1.43% in the red, while Liontown Resources Limited (ASX: LTR) is descending 1.8%. Meanwhile, Pilbara Minerals Ltd (ASX: PLS) is falling 0.18%.

Lithium carbonate prices in China have eased to 482,500 yuan per tonne in recent days. Lithium prices have shown no movement in the past day, while they are down 3.02% in the past month.

This is a huge contrast to the trend in January, February, and early March. Between 4 January and 15 March, lithium carbonate prices surged 79% to 497,500 yuan per tonne. Trading Economics reported China production of lithium carbonate increased by 41% in March, easing supply concerns. In the past year, lithium prices have exploded by 436%.

Core Lithium is exploring the Finniss lithium project in the Northern Territory. Lithium is a critical component for the batteries used in electric vehicles (EV).

Core Lithium also recently entered a binding agreement with Newmont Exploration to acquire the Shoobridge project in the Northern Territory.

Core Lithium share price snapshot

The Core Lithium share price has surged 436% in the past year, while it is up 136% this year to date.

For perspective, the ASX 200 has returned more than 8% in the past year.

Core Lithium has a market capitalisation of $2.4 billion based on its current share price.

The post The Core Lithium share price is sinking 6% today. Why? appeared first on The Motley Fool Australia.

More reading

• What are the 10 biggest ASX shares in the lithium space
• Here are the top 10 ASX shares today
• Why is the Core Lithium share price powering up 7% today?
• 3 ASX lithium shares that rocketed between 10% and 24% today
• Here are the top 10 ASX shares today

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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