Investing in the small side of the share market carries more risk than other areas.

But if your tolerance for risk allows for it, having a bit of exposure to this side of the market could be a boost for a balanced portfolio. This is due to the potential returns on offer from promising small caps.

With that in mind, here are three small cap ASX shares that analysts rate highly:

Airtasker Ltd (ASX: ART)

The first small cap ASX share to consider is Airtasker. It is growing online marketplace for local services with an estimated total addressable market of $600 billion across Australia, the UK, and the US. Morgans is very positive on Airtasker’s outlook due to this significant market opportunity and its attractive business model. Its analysts also highlight that this is a market that is in the early stages of ecommerce adoption, which puts Airtasker in a great position to benefit as the shift accelerates. Morgans has an add rating and $1.25 price target on the company’s shares.

Elmo Software Ltd (ASX: ELO)

Another small cap to watch is ELMO. It is a cloud-based human resources and payroll software company that provides a unified platform to streamline processes. It has been growing at a strong rate in recent years and has continued this impressive form in FY 2022. During the first half, Elmo grew its annualised recurring revenue (ARR) by 35% since the end of June to $98.3 million. This reflects strong trading conditions due to the increased adoption of cloud-software solutions by businesses to manage remote or hybrid workforces. Morgan Stanley is positive on the company and has an overweight rating and $7.80 price target on its shares.

PlaySide Studios Limited (ASX: PLY)

A final small cap ASX share to watch is PlaySide Studios. It is one of the largest video game developers in the ANZ region. It has developed a portfolio of games independently and in collaboration with studios such as Disney, Pixar, Warner Bros, and Nickelodeon. But it won’t stop there. The company has recently announced work for hire deals with games publishing giants 2K Games and Activision Blizzard. This could see the company work on some major titles for these gaming giants, which could give its reputation a huge boost. Canaccord Genuity is a fan of PlaySide. It currently has a buy rating and $1.30 price target its shares.

The post Here are 3 small cap shares analysts rate as buys appeared first on The Motley Fool Australia.

More reading

• Airtasker (ASX:ART) has been listed for a year. Has it been up to the task?
• Here are 3 small cap shares brokers rate as buys
• Growth investors should put these 2 top ASX shares on the watchlist
• 2 exciting small cap ASX shares for your watchlist
• 3 small cap ASX shares analysts are tipping for big things

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 Elmo Software. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Airtasker Limited. The Motley Fool Australia owns and has recommended Elmo Software. 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 Strike Energy Ltd (ASX: STX) share price was pushing closer to an 8-month high of 34 cents during late afternoon trade.

This came after the company announced a positive update on the ASX earlier today.

At the close of trading, the energy producer’s shares were swapping hands for 32.5 cents, up 3.17%.

Strike Energy secures $2 million funding award

Investors were driving up the Strike Energy share price after the company announced it had received backing for its geothermal power project.

In today’s release, Strike Energy advised it had been awarded a $2 million grant from the Clean Energy Future Fund.

Backed by the Western Australian Government, the fund is designed to help implement innovative clean energy projects.

Strike Energy said it would use the awarded funds to prepare and execute the drilling stage of its planned geothermal power project.

Located in the mid-west of WA, Strike Energy seeks to produce electrical power from geothermal energy. Essentially, this will help the company achieve its net-zero 2030 target via its integrated downstream strategy.

Geothermal energy is considered the cheapest form of reliable electricity with zero carbon emissions.

The process involves digging wells deep into underground reservoirs to access the steam and hot water. This can then be used to drive turbines connected to electricity generators.

Management commentary

Strike managing director and CEO Stuart Nicholls commented:

The Mid-West Geothermal Power Project is an excellent opportunity for Strike to use its existing core capabilities to drive renewable energy into its vertically integrated strategy.

The complementary skills required for a successful geothermal project in the Mid-West are all currently within the company’s existing competencies.

The Mid-West Geothermal Power Project is unique in that it may provide 24/7 dispatchable power which can drive lower carbon outcomes across Strike’s existing portfolio of projects and potentially more broadly across the State.

About the Strike Energy share price

Over the past 12 months, the Strike Energy share price has fallen by around 8%.

However, the company’s shares are up almost 60% this year to date, following the boom in commodity prices, particularly gas. This is largely due to the Russian invasion of Ukraine, which has led to heavy sanctions on the Kremlin from the West.

Strike Energy commands a market capitalisation of roughly $658.16 million, with approximately 2.03 billion shares on its books.

The post Why did the Strike Energy share price power higher today? appeared first on The Motley Fool Australia.

More reading

• Why ASX coal shares are charging higher again today
• Here are the 3 most heavily traded ASX 200 shares on Friday
• 3 ASX All Ordinaries shares rocking new all-time highs today
• What’s impacting the Santos share price on Friday?
• Magellan share price dips as Macquarie tips further outflows

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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ASX coal shares are leaping higher today. In afternoon trading, New Hope Corp Ltd (ASX: NHC) is up 2.65% to $3.87 per share, and Coronado Global Resources Inc (ASX: CRN) has gained 3.4% to $2.14 per share.

The Whitehaven Coal Ltd (ASX: WHC) share price is running even hotter, up 4.2% to $4.50 per share.

Now the S&P/ASX 200 Index (ASX: XJO) is gaining today as well, but it’s only up 0.55%. Meanwhile, the S&P/ASX 200 Energy Index (ASX: XEJ) is up 0.4%, while the S&P/ASX 200 Materials Index (ASX: XMJ) is up 1.23%.

So, why are ASX coal shares delivering far stronger gains today?

Russian coal to be banned from EU

Most of the tailwinds look to be coming from the European Union’s looming decision to ban Russian coal imports. The EU legislature is poised to pass the measure today, though EU oil and gas imports from Russia have yet to be targeted.

While the coal ban won’t take full effect until August, the implications for coal prices – already at historic highs – is bullish. That same implication looks to be driving up ASX coal shares today.

As Reuters reports, Russian coal comprises some 45% of the EU’s annual imports. Last month alone, the EU imported 3.5 million tonnes of thermal coal from Russia, according to Braemar data.

Commenting on the pending ban, Braemar dry bulk analyst Mark Nugent said: “Despite Russian coal shipments to Europe in March still continuing at pre-war levels, the expected alteration in coal flows into Europe has started to show.”

With Russian coal soon off the menu, European nations will need to shop elsewhere.

While much of the void is likely to be filled by the United States and South American producers, Reuters noted that the EU imported 537,000 tonnes of thermal coal from Australia in Q1. In the first quarter of 2021, there were no coal imports from Australia at all.

Now most ASX coal shares are already producing at near capacity. And it takes a lot of time to ramp up production.

Yet Coronado said it had received interest from the EU for its metallurgical coal, which is used in steelmaking rather than electricity production. Russia’s metallurgical coal will also be banned come August.

How have these ASX coal shares been performing?

With both thermal and metallurgical prices hovering near historic highs, ASX coal shares have been well-outperforming the index.

Year-to-date, the Whitehaven share price is up 63%; the Coronado share price is up 65.8%; and leading the ASX coal shares charge, the New Hope share price has soared 67% since the opening bell on 4 January.

For some context, the All Ordinaries Index (ASX: XAO) is down 2.0% year-to-date.

The post Why ASX coal shares are charging higher again today appeared first on The Motley Fool Australia.

More reading

• 3 ASX 200 shares smashing 52-week highs on Thursday
• Black gold! Here’s how well ASX energy shares performed over the March quarter
• In a sea of red, these ASX 200 coal shares are floating above water. Here’s why
• Could these ASX shares be set to benefit from increasing Russian sanctions?
• ASX 200 commodities players were the major winners in March. Take a look

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 S&P/ASX 200 Index (ASX: XJO) looks on course to end the week on a high note after a couple of days in the red. At the time of writing, the ASX 200 has gained a robust 0.39% at just over 7,470 points.  

But let’s delve a little deeper into these gains by looking at which ASX 200 shares are currently topping the market’s share volume charts, according to investing.com.

The 3 most traded ASX 200 shares by volume this Friday

Platinum Asset Management Ltd (ASX: PTM)

Fund manager Platinum is our first share to take a glance at today. So far this Friday, Platinum has had 16.91 million of its shares traded on the markets. Unfortunately for investors, this seems to be the result of the nasty share price collapse this ASX 200 fund manager has suffered through today.

The Platinum Asset Management share price is currently down by a whopping 15.25% at $1.89 a share. Investors seem to have been spooked by this company’s latest funds under management report. No wonder so many shares have traded today. 

AVZ Minerals Ltd (ASX: AVZ)

ASX 200 lithium hopeful AVZ is next up today. During today’s trading session thus far, a notable 19.06 million shares have been bought and sold. The company’s shares themselves haven’t done anything too remarkable as it presently looks, with the AVZ share price down by 0.27% at $1.12.

However, AVZ did release a notice this morning that it has issued a large number of new shares thanks to some unlisted options being exercised. Perhaps this is helping push up volumes as well.

Paladin Energy Ltd (ASX: PDN)

Uranium share Paladin is our third and final share worth discussing this Friday. So far today, a sizeable 51.89 million Paladin shares have swapped hands as it currently stands. This ASX 200 company appears to be enjoying the opposite situation of Platinum. Its shares are currently up a pleasing 11.56% at 89 cents each. There is no major news out of the company today.

However, as my Fool colleague Brooke explained today, most uranium shares are enjoying some love after uranium futures shot to their highest pricing in a decade overnight. This is probably why we see such a high trading volume right now. 

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

More reading

• Bond yields bounce past 3% for the first time since 2015. Here’s how the ASX 200 is responding
• Here’s why this ASX 200 share just dived 16% to an all-time low
• Why Block, IGO, Navigator Global, and Platinum shares are dropping
• Why are ASX uranium shares having such a stellar end to the week?
• ASX 200 lunch update: GrainCorp jumps on earnings upgrade, Pro Medicus signs $32m deal

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

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The S&P/ASX All Ordinaries Index (ASX: XAO) may be up a muted 0.5% but these shares are having a far more impressive day with each one reaching new all-time high prices.

Let’s look at what might be driving investor enthusiasm for these outstanding ASX All Ordinaries performers.

Endeavour Group Ltd (ASX: EDV) 

This is the fifth time this week that the Endeavour share price has hit an all-time high. It’s currently up 0.52% at $7.70 but it reached a new record high of $7.73 in earlier trading. The ASX All Ordinaries stock has gained 12% in just 30 days.

Endeavour shares have been riding high since mid-February when the retail drinks and hotel operator reported a 15% increase in net profit after tax (NPAT) in its FY22 half-year earnings. The news prompted ASX investors to bid up the Endeavour share price by 11% in one day.

Endeavour is benefitting from the end of COVID-19 lockdowns and restrictions while simultaneously reaping the rewards of the structural shift in retail to more online shopping induced by the pandemic.

Goldman Sachs analyst Lisa Deng has a buy rating on Endeavour and a share price target of $8.

Zimplats Holdings Ltd (ASX: ZIM)

Next is Zimplats, up 6.24% to $30.81 despite no news from the Zimbabwe miner today. Earlier, the company’s shares reached $32.44, an impressive 11.8% gain on yesterday’s closing price of $29.

It’s a safe bet that continuing strength in commodity prices has something to do with the support Zimplats is getting from ASX investors. The stock is up by 33% this year to date.

The value of the platinum metals that Zimplats digs out of the ground has been soaring of late.

Like many other commodities, the price of precious metals has increased on the back of Russia’s invasion of Ukraine. This is particularly the case with platinum and palladium. As my Fool colleague Brooke points out, Russia is responsible for a hefty chunk of the world’s palladium production.

Graincorp Ltd (ASX: GNC)

Our final ASX All Ordinaries outperformer today is Graincorp, up 5.87% to $9.20 after the company announced an FY22 earnings guidance upgrade and released a trading update.

As fellow Fool James reported this morning, the grains exporter was previously guiding underlying earnings before interest, tax, depreciation, and amortisation (EBITDA) of $480 million to $540 million and underlying net profit after tax (NPAT) of $235 million to $280 million. Now it’s expecting underlying EBITDA of $590 million to $670 million and underlying NPAT of $310 million to $370 million.

ASX investors reacted strongly to the news, sending the Graincorp share price to an all-time high of $9.46 during earlier trading. That’s an 8.86% bump on yesterday’s closing price of $8.69.

ASX All Ordinaries recap

The ASX All Ordinaries index is down 2% in 2022 but up 7.2% over the past 12 months.

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

More reading

• Why Boss Energy, GrainCorp, Pro Medicus, and Select Harvests are pushing higher
• ASX 200 lunch update: GrainCorp jumps on earnings upgrade, Pro Medicus signs $32m deal
• GrainCorp share price jumps 9% to record high on guidance upgrade amid ‘significant’ demand
• Own Endeavour shares? Here are 4 things you probably don’t know
• 3 ASX 200 shares smashing 52-week highs on Thursday

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.

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Shares in oil and gas giant Santos Ltd (ASX: STO) are edging higher on Friday and now trade 1% in the green at $7.99.

As the commodities super cycle continues in full swing, ASX resources players continue to feel the upside. Santos has spiked almost 27% this year to date after thrusting off a bottom late last year.

What’s driving oil markets?

Oil markets continue to surge with Brent Crude now fetching US$99.88 per barrel, having cooled off in recent days. Meanwhile, natural gas prices continue flying and now trade back above 10-year highs.

Driving the rally in oil markets lately is four key catalysts, energy analyst Syed Muhammad Osama Rizvi said in a recent post.

“Wild Swings in oil markets are becoming common with news such as prices falling $11 in one day and $5 in some minutes,” Rizvi posted.

“These swings highlight that sentiments are running the show not the fundamentals,” he added.

The concerns regarding supply crunch, spare capacity and others are unwarranted or overblown because the downward trend in price in matter of days or minutes cannot mean that these ‘structural issues’ are resolved.

Following are the main factors driving the markets: (a) Russia-Ukrainian Issue (Escalation, De-escalation); (b) Supply Factors (SPR release, OPEC [and] production); (c) COVID19 (d) Iran Deal; Additional ones: (e) Fed’s interest rates; (f) Political [and] economic issues in Emerging Markets.

Santos’ little helper

Players like Santos are clearly benefitting from the upside in energy markets this year, something TMF has reported on extensively these past few months.

Yet, whilst uncertainty remains on the future prospects of oil pricing, there’s nothing but certainty amongst analysts on whether to buy Santos right now or not.

More than 87% of analysts covering the stock have it as a buy, versus 12.5% for a hold, according to Bloomberg data.

That buy number has crept up from 53% in July last year, whilst the price target has gained exponentially and now rests well above the current share price at $9.26.

That suggests around a 16% margin of safety at the time of writing. Not only that, but the Santos share price and the price of oil has begun to diverge in recent days, which could have some interesting implications. Or not, time will tell.

In the last 12 months, the Santos share price has gained 12% after climbing another 3% this week.

The post What’s impacting the Santos share price on Friday? appeared first on The Motley Fool Australia.

More reading

• Black gold! Here’s how well ASX energy shares performed over the March quarter
• 5 things to watch on the ASX 200 on Thursday
• Broker names 3 more of best ASX 200 shares to buy in April
• ASX 200 commodities players were the major winners in March. Take a look
• Why now is the time to sell Santos shares: fund manager

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 Magellan Financial Group Ltd (ASX: MFG) share price is enduring a tough end to the week, currently down 1.33% at $17 in afternoon trading.

As the fallout from a spate of internal and external pressures comes to full force, analysts are tipping further outflows for the embattled fund manager in 2022.

More outflows to come?

Magellan released its latest funds under management (FUM) update yesterday. In it, the company reported another $1.1 billion in net outflows between 11 March and 31 March. Across the board, total FUM stood at $70 billion at the end of the March quarter. The Magellan share price spiked 11% yesterday on the back of the update.

However, analysts at Macquarie are confident investors will continue withdrawing funds from the firm, with outflows likely to persist until FY24, it says.

It expects heavy outflows in Q4 FY22 that look set to extend well into a $7.8 billion outflow in 1H FY23.

“We expect outflows of $7.1 billion in 4Q FY22 and $7.8 billion in 1H FY23 as recent investment performance has remained below respective benchmarks and the stronger AUD will continue to weigh on investment performance,” it said in a note.

“We continue to expect material outflows to persist for several quarters limiting scope for re-rating,” it added, pegging FUM to eventually sink to $56 billion in FY23.

This would imply a total outflow of $25 billion in FUM from its flagship fund, Macquarie says, cited by Bloomberg.

Meanwhile, UBS reckons the likelihood of a turnaround at Magellan is highly unlikely, analyst Shreyas Patel said in a note.

“Fundamentals remain poor with ongoing investment underperformance, reduced performance fee potential, higher outer year staff retention costs, and risks to retail fees,” the analyst commented.

It too believes there will be $24 billion in outflows for 2H FY22, setting the firm up for potentially extensive losses.

Macquarie and UBS both have Magellan as a sell on a valuation of $13.25 and $13 respectively.

In the last 12 months, the Magellan share price has slipped 65% into the red.

The post Magellan share price dips as Macquarie tips further outflows appeared first on The Motley Fool Australia.

More reading

• Top brokers name 3 ASX shares to sell today
• Why Ardent Leisure, GQG, Magellan, and Melbana shares are charging higher
• ASX 200 midday update: Magellan jumps, tech shares tumble
• Magellan share price rockets 11% despite continued FUM carnage
• Magellan share price sinks again, down 6%

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 recommended Macquarie Group 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 IGO Ltd (ASX: IGO) share price is finishing a rough week on the ASX in the red.

The nickel, copper, cobalt, and lithium explorer and producer may have had its previously accepted acquisition offer swept out from underneath it on Tuesday.

Today, its facing reports analysts estimate a revised bid for nickel producer, Western Areas Ltd (ASX: WSA) could start at $4 per share – 19% higher than IGO’s previously accepted bid.

Additionally, the company has faced a bearish note from broker UBS on Friday.

At the time of writing, the IGO share price is $13.62, 2.12% lower than its previous close.

For context, the S&P/ASX 200 Index (ASX: XJO) has gained 0.6% so far on Friday.

Let’s take a closer look at what could be driving the resource company’s shares lower today.

What’s weighing on the IGO share price today?

The IGO share price is in the red on Friday, bringing its losses for the week so far to 5.4%. And today’s dip is not without cause.

As The Motley Fool Australia’s James Mickleboro reported earlier today, UBS’ latest outlook on IGO is far from positive.

The broker reportedly slapped it with a $12.65 price target and a ‘sell’ rating today. It cited its concerns the prices of lithium and nickel are unsustainable.

Additionally, analysts from Shaw and Partners – which reportedly has a price target of $4.40 on Western Areas – were quoted by The Australian on Friday, saying:

We think that a price up to $4 [per] share would be digestible – given the evolving nickel backdrop – for the dispassionate and disciplined IGO team.

The reports follow previous rumours IGO is in talks to bid up to $4 apiece for Western Areas’ stock.

While the IGO share price has been suffering, that of Western Areas is still frozen.

The acquisition target extended its then-two-day trading halt on Thursday pending the release of an update on the takeover talks.  

The post Why is the IGO share price underperforming on Friday? appeared first on The Motley Fool Australia.

More reading

• Why Block, IGO, Navigator Global, and Platinum shares are dropping
• ASX 200 lunch update: GrainCorp jumps on earnings upgrade, Pro Medicus signs $32m deal
• Top brokers name 3 ASX shares to sell today
• IGO share price slips amid latest takeover rumours
• Why A2 Milk, IGO, Lynas, and Sayona shares are dropping

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 Bruce Jackson.

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The long end of the Australian Government bond yield curve has just surpassed 3% for the first time since 2015.

Yields on long-dated bonds have spiked in 2022, with the Australian Government 30-year bond, in particular, shooting up to a yield to maturity of 3.33% at the time of writing.

Meanwhile, the Australian 10-year yield is 25 basis points off the 3% mark, while bonds with three and five-year maturities are at 2.5% and 2.8% respectively.

The Australian Government yield curve is also upward sloping, but flattening for long-duration bonds, data shows.

The rally in government bond yields comes somewhat as a surprise to fixed income investors seeing as yields were at their lowest points on record just some months ago.

“Market fragility after the end of RBA [Reserve Bank of Australia]’s yield-curve control has meant the speed or normalisation priced in overnight-indexed swaps [OIS] isn’t calibrated to local fundamentals,” wrote JP Morgan analysts, cited by Bloomberg, regarding the RBA’s posture on changing base rates.

Investigations by Bloomberg Intelligence support this view, noting “OIS meeting-dated swaps signal approximately 70% odds of [a] May RBA hike [to base rates],” in reporting today.

As investors pay more attention to risk budgeting, the yields on government bonds are becoming increasingly important indicators of market sentiment.

How have ASX 200 shares held up?

Typically there’s an inverse correlation between the yields on long-dated bonds and the overall stock market in the longer term.

However, these aren’t typical times. Recently correlations have turned more positive than not, and Australian large caps have snapped back in 2022 alongside the rise in government yields, seen below.

The relationship has carried on until today, with the benchmark S&P/ASX 200 Index (ASX: XJO) spiking 52 basis points on the day to 7,481 while the 10-year yield is up 37 basis points.

As a result, Australian shares are powering home on Friday having restrengthened over the past month. Miners and financials still lead the way, although there are plenty of pockets of green dotted throughout the market.

But that’s not all for Aussie investors. The RBA looks certain to increase the cash rate, says Jay Sivapalan of Janus Henderson.

“The three preconditions the RBA set for cash rate lift-off (unemployment close to 4%, inflation sustainably within the 2-3% band, and wages inflation above 3%) are likely to be satisfied within the coming six months,” he told Livewire.

This could mean a wave of buying opportunities, Sivapalan says, seeing as higher yields on long-dated bonds means lower valuations on equities.

“The recent lift in bond yields, swap spreads, and credit spreads have, in our assessment, created a unique opportunity to effectively ‘lock in’ investor outcomes at reasonably attractive levels,” he added.

That’s worth thinking about.

The post Bond yields bounce past 3% for the first time since 2015. Here’s how the ASX 200 is responding appeared first on The Motley Fool Australia.

More reading

• ASX 200 lunch update: GrainCorp jumps on earnings upgrade, Pro Medicus signs $32m deal
• Worried about current ASX share market uncertainty? Read this
• 5 things to watch on the ASX 200 on Friday
• What’s the outlook for the Cochlear share price in April?
• Here are the 3 most heavily traded ASX 200 shares on Thursday

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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ASX 200 investors are dumping Platinum Asset Management Ltd (ASX: PTM) shares today, at one point driving them down to an all-time low.

The Platinum share price plummeted to $1.87 this morning, the lowest level the company has traded at since it was listed in 2007. By contrast, the S&P/ASX 200 Index (ASX: XJO) is up 0.52% today. Platinum shares have since gained a little ground and are now trading 15% lower at $1.90.

At the time of writing, 13.56 million shares in the ASX 200 investment manager have already changed hands. That’s more than quadruple the company’s 30-day average of 3.14 million shares traded per day.

What’s going on with this ASX 200 share?

It appears ASX investors may be disappointed with Platinum’s latest funds under management report. Released yesterday, the report shows net outflows of approximately $222 million in funds in March.

This includes approximately $162 million in net outflows from the Platinum Trust Funds.

Platinum now has 19.44 billion in funds under management.

Adding insult to injury is a broker note out of Credit Suisse downgrading Platinum shares from neutral to underperform.

According to reporting in The Australian, the broker recommends that ASX investors sell. It has cut its price target for the ASX 200 share to $1.90.

Platinum share price recap

This ASX 200 share is having a rough time of it in 2022. The Platinum share price is down 32% year to date. This is in stark contrast to the ASX 200 benchmark, which is down 1.4%.

The past 12 months have been no better with the shares down 62% compared to an ASX 200 gain of 7%.

The Australian-based investment manager describes its investing strategy as contrarian and long-term. According to the website, the team looks “beyond short-term market turbulence… to seek out ‘unfashionable’ companies whose actual worth is greater than the value implied in their present share price”.

The post Here’s why this ASX 200 share just dived 16% to an all-time low appeared first on The Motley Fool Australia.

More reading

• Why Block, IGO, Navigator Global, and Platinum shares are dropping
• 3 high-yield ASX dividend shares trading near 52-week lows
• Cash machines: 6 ASX 200 shares with the highest dividend yields right now
• 5 things to watch on the ASX 200 on Wednesday

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.

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