In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a small gain. At the time of writing, the benchmark index is up 0.1% to 7,387.8 points.

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

Aurelia Metals Ltd (ASX: AMI)

The Aurelia Metals share price is down 8% to 48.3 cents. Investors have been selling this gold miner’s shares after it revealed that it has identified lower grades of mineralisation in part of the Dargues Gold Mine compared to its existing life of mine plan. As a result, it expects to report a non-cash impairment charge in the range of A$60 million to A$80 million (post tax) against the Dargues assets.

Janus Henderson Group (ASX: JHG)

The Janus Henderson share price is down almost 4% to $45.82. This follows news that the fund manager has appointed its new Chief Executive Officer. According to the release, Janus Henderson has appointed Ali Dibadj to the role, effective no later than 27 June. He will take over from Dick Weil, who is stepping down on 31 March. Chief Financial Officer, Roger Thompson, will cover as interim CEO until Mr Dibadj joins.

ResMed Inc. (ASX: RMD)

The ResMed share price is down 4% to $32.09. This follows a sharp pullback in the company’s NYSE listed shares overnight. The sleep treatment specialist’s US listed shares tumbled 8.5% during overnight trade before rebounding 4% in after hours trade. This was driven by concerns over supply issues.

Zip Co Ltd (ASX: Z1P)

The Zip share price is down almost 6% to $1.55. Investors have been selling Zip and other tech shares on Thursday following a poor night of trade on the tech-focused Nasdaq index. This has led to the S&P ASX All Technology index losing 1% of its value on Thursday afternoon.

The post Why Aurelia Metals, Janus Henderson, ResMed, and Zip shares are dropping appeared first on The Motley Fool Australia.

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• ASX 200 (ASX:XJO) midday update: Brickworks impresses, Uniti confirms takeover approach
• Janus Henderson (ASX:JHG) share price falls following new CEO appointment
• Why is the Zip share price getting smashed so much more than other BNPL stocks in 2022?
• Leading the pack! ASX tech shares storm higher on Wednesday
• ASX 200 (ASX:XJO) midday update: Block and Zip jump, Fisher & Paykel Healthcare sinks

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 ZIPCOLTD FPO. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended ResMed. The Motley Fool Australia has recommended ResMed Inc. 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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WAM Capital Limited (ASX: WAM) is one of the largest listed investment companies (LICs) on the ASX. But does it have a 10% dividend yield at the latest WAM Capital share price?

According to the ASX, WAM Capital has a market capitalisation of more than $2 billion. There are not many LICs that are bigger, though two examples are Argo Investments Limited (ASX: ARG) and Australian Foundation Investment Co Ltd (ASX: AFI).

How big is the WAM Capital dividend yield?

The LIC has been paying an annualised dividend of 15.5 cents per share since 2018.

At the current WAM Capital share price, that dividend translates into a dividend yield of 7%. When franking credits are added, the grossed-up dividend yield becomes 10%.

However, the LIC notes that the company’s ability to continue paying fully franked dividends is dependent on generating additional profit reserves and franking credits. At the end of the period, the company’s profit reserve was 19.7 cents per share, before the payment of the declared fully franked FY22 interim dividend of 7.75 cents per share.

How is the portfolio performance going?

In the six months to 31 December 2021, the LIC generated an investment portfolio return of 4.8%. This quoted return is before expenses, fees, taxes, and capital management initiatives.

Over the half-year, the All Ordinaries Total Accumulation Index (ASX: XAOA) returned 4.6%. So, there was an outperformance in gross return terms by WAM Capital’s portfolio of 0.2%.

In the decade to 31 December 2021, WAM Capital’s portfolio average gross return of 14.8% per annum was 3.8% better per year than its benchmark.

However, there has been a lot of volatility since December 2021. WAM Capital’s net tangible assets (NTA) before tax have declined from $1.88 on 31 December 2021 to $1.71 on 28 February 2022.

What are some of the ASX shares that WAM Capital owns?

The portfolio’s investment performance can impact the WAM Capital share price and dividend funding (being the profit reserve).

The LIC is looking for the most compelling undervalued growth opportunities in the Australian market for its portfolio.

In the February 2022 update, it revealed a number of its top holdings.

There were some ‘reopening trade’ ASX shares in there, including Ardent Leisure Group Ltd (ASX: ALG), Accent Group Ltd (ASX: AX1), Corporate Travel Management Ltd (ASX: CTD), Event Hospitality and Entertainment Ltd (ASX: EVT), and Idp Education Ltd (ASX: IEL).

WAM Capital also had these businesses among its top 20 holdings: Brickworks Limited (ASX: BKW), Carsales.com Ltd (ASX: CAR), GUD Holdings Limited (ASX: GUD), IPH Ltd (ASX: IPH), and PEXA Group Ltd (ASX: PXA).

The post Does the WAM Capital (ASX:WAM) share price really offer a 10% dividend yield? appeared first on The Motley Fool Australia.

More reading

• These 2 compelling ASX shares are a buy: fund manager
• WAM boss urges cashed-up ASX 200 companies to buy, invest or pay dividends

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 Brickworks and Idp Education Pty Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended IPH Ltd. The Motley Fool Australia owns and has recommended Brickworks. The Motley Fool Australia has recommended Accent Group, Corporate Travel Management Limited, IPH Ltd, and carsales.com 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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Its a good day to be a shareholder in these ASX mining shares. They’ve each surpassed their previous 52-week highs and, in many cases, reached their highest point ever.

But, perhaps, mining shares might be a bit broad as each of these 5 stocks deal in a common commodity – lithium.

They were also all involved in S&P Dow Jones Indices’ March quarterly review.

Let’s take a look at the ASX lithium explorers and developers reaching long-forgotten heights on Thursday.

The ASX mining shares hitting new 52-week highs

ANZ Minerals Ltd (ASX: AVZ)

The AVZ Minerals share price is surging 8.25% at the time of writing.

However, earlier today the lithium explorer’s stock boomed to a new 52-week high – and all-time high – of $1.14, representing a 10.6% gain.

Interestingly, there’s been no news released by the company for nearly 3 weeks.

Though, it was admitted to the S&P/ASX 200 Index (ASX: XJO) prior to the ASX opening on Monday. That could have helped spur its gains this week.

As could the rising price of lithium.

According to reporting by OilPrice.com, battery-grade lithium carbonate was trading for an average of US$76,700 per tonne in mid-March – 95% higher than it was at the start of 2022.

Additionally, prices are expected to remain high as demand continues.

All this has likely helped send the lithium explorer’s stock to its new 52-week high.

Lake Resources N.L. (ASX: LKE)

Another ASX lithium explorer is hitting new all-time highs today. The Lake Resources share price reached $1.87 today, representing a 3.8% gain.

There’s been no news from the company lately. But, once again, lithium prices could be to blame for the stock’s gains.

Additionally, the company was welcomed to both the All Ordinaries Index (ASX: XAO) and the ASX 300 earlier this week.

Impressively, the Lake Resources share price has gained a whopping 87.5% since this time last month.

Core Lithium Ltd (ASX: CXO)

Surprise, surprise: Another lithium explorer has made its way onto this list.

The Core Lithium share price hit a new 52-week high – and all-time high – of $1.29 on Thursday, representing a 4% increase.

By now, I’m sure readers will be sensing a pattern as, once again, there’s been no word from the company.

However, it was added to the S&P/ASX 300 Index (ASX: XKO) prior to Monday’s open.

Sayona Mining Ltd (ASX: SYA)

Another lithium stock, another 52-week high.

Lithium developer, Sayona Mining saw its share price hit its highest point since 2009 when it peaked at 24 cents today – a 14.2% gain.

The Sayona Mining share price took off earlier this month on news of its Québec lithium resource.  

Like Lake Resources, Sayona Mining was also welcomed to both the All Ords and the ASX 300 earlier this week.

Firefinch Ltd (ASX: FFX)

Finally, Firefinch – ASX-listed gold and lithium developer – surpassed its previous 52-week high on Thursday.

At its intraday high, the Firefinch share price was trading at 93 cents, a 4.4% increase on its previous closing price.

In a double whammy, the company’s stock might be being boosted by both the gold price – gold futures are currently up 0.24% according to CNBC ­– and the lithium price.

The company was also admitted to the All Ords and the ASX 300 on Monday.

The post 5 ASX mining shares smashing 52-week highs today appeared first on The Motley Fool Australia.

More reading

• Why Brickworks, JB Hi-Fi, Mesoblast, and Sayona shares are charging higher
• The AVZ Minerals (ASX:AVZ) share price has boomed a whopping 36% in a week. What’s the deal?
• Could the Firefinch (ASX:FFX) share price have 130% upside? Broker weighs in
• Why is the Sayona (ASX:SYA) share price rocketing 19% higher?
• Here are the 3 most heavily traded ASX 200 shares this Wednesday

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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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is fighting hard to stay in positive territory. At the time of writing, the benchmark index is up slightly to 7,382.9 points.

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

Brickworks Limited (ASX: BKW)

The Brickworks share price is up almost 5% to $22.81. Investors have been buying this building products company’s shares following the release of its half year results. Brickworks reported a 24% increase in revenue to $535 million and a 254% jump in underlying earnings before interest and tax (EBIT) to $450 million. This was driven by investment earnings of $73 million and a $349 million increase in the value of its share in the joint venture property trust with Goodman Group (ASX: GMG).

JB Hi-Fi Limited (ASX: JBH)

The JB Hi-Fi share price is up almost 4% to $52.57. This follows the release of a sales update from the retail giant. That update revealed that business has been booming so far during the second half. JB Hi-Fi revealed that for the period 1 January to 23 March 2022, it continued to see heightened customer demand and strong sales growth. This led to JB Hi-Fi Australia reporting total sales of 11.3% quarter to date.

Mesoblast limited (ASX: MSB)

The Mesoblast share price is up over 4% to $1.15. Investors have been buying this biotech company’s shares after it announced a key appointment. Mesoblast has appointed Philip R. Krause, M.D. to its board of directors. For the past decade, Dr. Krause has been the Deputy Director, Office of Vaccines Research and Review at the US Food and Drug Administration’s Center for Biologics Evaluation and Research.

Sayona Mining Ltd (ASX: SYA)

The Sayona Mining share price has continued its impressive run and is up a further 7% to 22.5 cents. Investors have been scrambling to buy this lithium explorer’s shares this month following a positive mineral resource update and its inclusion in the All Ordinaries and ASX 300 indices.

The post Why Brickworks, JB Hi-Fi, Mesoblast, and Sayona shares are charging higher appeared first on The Motley Fool Australia.

More reading

• ASX 200 (ASX:XJO) midday update: Brickworks impresses, Uniti confirms takeover approach
• Here’s why the Mesoblast (ASX:MSB) share price is climbing today
• JB Hi-Fi (ASX:JBH) share price charges higher on strong Q3 sales growth
• Soul Pattinson (ASX:SOL) share price on watch after 281% surge in net profit
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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. owns and has recommended Brickworks. The Motley Fool Australia owns and has recommended Brickworks. 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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A fund manager has named the CSL Ltd (ASX: CSL) share price within an ASX hall of fame.

CSL shares are currently swapping hands at $266.05, a 0.55% fall. In comparison, the S&P/ASX 200 Index (ASX: XJO) is up 0.11% today.

So why has this biotechnology giant received this accolade?

Why is CSL an ASX hall of famer?

QVG Capital has listed multiple shares in a list of ‘ASX Hall of Famers’ and CSL is one of them. Shares that made the cut are seen as some of the greatest ASX-listed companies of all time.

REA Group Limited (ASX: REA), Objective Corporation Limited (ASX: OCL), Aristocrat Leisure Limited (ASX: ALL), Reece Ltd (ASX: REH), Cochlear Limited (ASX: COH), Domino’s Pizza Enterprises Ltd (ASX: DMP), ARB Corporation Limited (ASX: ARB), Resmed CDI (ASX: RMD), and JB Hi-Fi Limited (ASX: JBH) are also named.

Commenting on this hall of fame listing on Livewire, QVG portfolio manager Chris Prunty said:

All these companies have been at least 20-baggers with CSL and REA returning over 100x to patient shareholders.

What’s clear from the data is that high returns on capital and compounding revenue growth for many years in the teens is the ‘secret’ to gaining access to this elite cohort.

The team at QVG listed three common characteristics of the shares that made the list. High returns on capital combined with revenue growth, margins that demonstrate pricing power or unit economics that crush the competition, and strong balance sheets.

CSL reported revenue growth of 4% in its latest half-yearly results and a net profit after tax of $1.76 billion. The EBIT margin, a measure of the profitability of the company taking into account interest and taxes, was 41.1%. The company is predicting a net profit after tax of between $2.15 billion and $2.25 billion in FY22. The company declared an interim dividend of $1.46 per share, up 8%. The CSL share price jumped more than 8% on the back of these results.

Citi has recently maintained a buy rating and placed a $335 price target on CSL shares.

CSL has been operating for more than a century and listed on the ASX in 1994.

CSL share price snapshot

The CSL share price has shed nearly 9% so far this year, while it is down 0.1% year to date.

For perspective, the benchmark S&P/ASX 200 Index (ASX: XJO) has gained 9% in the past 12 months.

CSL has a market capitalisation of about $128 billion based on its current share price.

The post Do CSL shares deserve a spot in the ASX ‘hall of fame’? appeared first on The Motley Fool Australia.

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• The company outperformed when it last reported, so why has the CSL share price been languishing?
• 3 buy-rated blue chip ASX 200 shares according to experts

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

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The Uniti Group Ltd (ASX: UWL) board is said to be considering a proposal put forward by Macquarie Infrastructure and Real Assets Holdings Pty Limited (MIRA) and Public Sector Pension Investment (PSPI) board to buy the company.

Collectively, the pair have labelled themselves “Connect Consortium”. MIRA operates within Macquarie Asset Management’s Real Assets division, itself a segment of Australian investment bank Macquarie Group Ltd (ASX: MQG).

At this point in time, Uniti shares are frozen due to the media speculation on the deal and the sensitive nature of the announcement(s).

Before it went into the chiller yesterday, the Uniti share price was fetching $4.67 apiece, having climbed 18% in the five days leading to Wednesday.

Uniti considering Macquarie offer

Uniti confirmed that it had received the offer that proposes an all-cash $5 per share buyout of the company. It says the proposal is non-binding, incomplete and indicative, and that there’s no certainty a deal will result.

The plan Macquarie set out values Uniti at roughly $3.4 billion and represents a 7% premium to the company’s last quoted market capitalisation before entering the halt.

However, in these kinds of transactions, we need to also look at the company’s balance sheet, by subtracting cash and equivalents, and then adding in minority interest and total debt to calculate the company’s enterprise value (EV).

At the time of writing, Uniti has an EV of $3.39 billion according to Bloomberg data, hence the deal values Uniti at ‘fair price’. EV is the figure investment bankers use when analysing buyouts because it signifies what the company’s true market value is.

Not only that, but Uniti had already entered into exclusive discussions with HRL Morrison & Co. for $4.50 per share just last week.

That deal is also subject to intense scrutiny and has a number of milestones to get through in order to overtake Macquarie’s fresh offer.

As such, Macquarie’s offer is around 11% higher than Morrison & Co’s bid, according to Bloomerg data.

Regarding the deal, Uniti said:

The Connect Consortium Indicative Proposal is subject to a number of conditions, including satisfactory completion of due diligence, FIRB approval, no material adverse change in respect of Uniti, committed debt funding being in place, receipt of internal MAM Real Assets and PSP Investments final approvals, unanimous recommendation of the transaction from the Uniti Board, and entry into a mutually acceptable Scheme Implementation Agreement to be agreed between Uniti and the Connect Consortium.

The board notes that Uniti shareholders needn’t take any action at this stage and that it will regularly update the market on any progress.

Uniti share price snapshot

In the past 12 months, the Uniti share price has more than doubled and it has now climbed another 5% this year to date in line with the performance of the broad tech sector.

Over the past month, shares are soaring higher and are now up 45% in that time after an 18% gain in the previous week of trade.

The post Uniti (ASX:UWL) said to be ‘considering’ Macquarie cash bid of $5 per share appeared first on The Motley Fool Australia.

More reading

• ASX 200 (ASX:XJO) midday update: Brickworks impresses, Uniti confirms takeover approach
• 2 ravaged ASX shares that will rise again: expert
• 5 things to watch on the ASX 200 on Thursday
• Uniti (ASX: UWL) share price surges 11% to record high as Macquarie bid appears confirmed
• Uniti (ASX:UWL) share price jumps amid rumoured Macquarie approach

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 and Uniti 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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Is Moderna listed on the ASX? The vaccine company has become a household name over the past two years. Moderna vaccines were approved for use against COVID-19 back in August last year. Since then, countless doses have been put in arms across the country.

What’s more, we got the news today that the Federal Government and the Victorian Government has partnered up with Moderna to build the first mRNA vaccine manufacturing hub in the Southern Hemisphere.

According to reporting from the ABC, the two governments will provide support for Moderna to construct a manufacturing facility in Victoria. The exact location is yet to be determined. According to the report, all parties are hoping that the new plant will produce its first vaccines “sometime in 2024”. But the facility will not be restricted to just COVID vaccines. There are “plans to develop a number of other respiratory treatments and vaccines” too. These are likely to include influenza (the flu) and respiratory syncytial virus.

So now Moderna is set to have such a strong presence in Australia, many investors might be hoping to get a piece of the action in their own portfolios. So is Moderna an ASX listed share?

Are Moderna shares on the ASX?

Unfortunately, the answer is no.

Moderna is indeed a public company. But it is an American one through and through, having been founded in Massachusetts in 2010. As such, Moderna shares are listed on the US markets. Specifically, the company is on the Nasdaq exchange. Its full name is Moderna Inc (NASDAQ: MRNA). That’s a highly applicable ticker code if there ever was one.

So unfortunately for ASX investors, we can’t buy Moderna shares directly on the ASX. If you wanted to buy the company’s shares, you would need to do so by buying the US-listed shares through a supporting broker.

Alternatively, Moderna is a constituent of both the S&P 500 Index (INDEXSP: .INX) and the NASDAQ-100 Index (NASDAQ: NDX). Both of these indexes have ASX exchange-traded funds (ETFs) that track them. So that is another avenue to explore for any aspiring Moderna investors.

But, as is the case with many global companies, there just isn’t a direct ASX listing for us Aussies to go with.

The Moderna share price is currently up by 35.8% over the past 12 months, although it has taken a 24% haircut in 2022 so far. At the last Moderna share price of US$178.73, the company had a market capitalisation of US$72.03 billion.

The post Is Moderna listed on the ASX? appeared first on The Motley Fool Australia.

More reading

• 2 Nasdaq stocks bucking Monday’s market drop

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 recommended Moderna Inc. 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 Imugene Limited (ASX: IMU) share price is on the move today. This comes after the company announced an update on its phase 1 clinical trial of its oncolytic virotherapy candidate, Checkvacc.

Checkvacc is a novel treatment currently being tested to kill tumour cells and activate the immune system against cancer cells.

During early afternoon trade, the immuno-oncology company’s shares are up 2.63% to 29.3 cents.

Imugene increases dosage of Checkvacc

The Imugene share price is firmly in the green after providing investors with a positive update.

In its release, Imugene advised it will proceed to the second dose cohort in the Checkvacc phase I clinical trial.

The study is being conducted at the City of Hope, a world-renowned cancer treatment and research centre near Los Angeles.

Imugene stated that Checkvacc was deemed to be safe from the Protocol Management Team.

Specifically, no dose-limiting toxicities (DLTs) and no serious adverse reactions were observed from the first cohort of patients. They were administered with the lowest dose of Checkvacc as monotherapy during the initial study.

The current trial design will involve a dose escalation, followed by an expansion to 12 patients at the final dose. This will then be recommended for a phase 2 dose (RP2D).

The trial is anticipated to run for 24 months and is funded from existing budgets and resources.

Imugene managing director and CEO Leslie Chong commented:

We are pleased with the results that we have seen so far with no observed toxicity with early encouraging results in oncolytic virus infection and replication in the TNBC tumours.

…The Protocol Management Team for the study reviewed the first low dose cohort of patient’s data and has recommended to proceed to the next dose escalation due to safety and tolerability.

Imugene share price snapshot

Over the past 12 months, the Imugene share price has gained more than 154%. A sharp contrast when looking at year to date, with the latter down 27%.

The company’s shares touched a 52-week high of 62.5 cents in November 2021, before travelling on a downhill trend.

Based on today’s price, Imugene presides a market capitalisation of roughly $1.71 billion.

The post Thursday brings more good news for the Imugene (ASX:IMU) share price appeared first on The Motley Fool Australia.

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• Why Block, Calix, Carnarvon, and Imugene shares are racing higher
• Here’s why the Imugene (ASX:IMU) share price is having such a stellar day
• Do ASX biotech shares offer ‘good buying’ after the sell-off? Experts weigh in
• Imugene (ASX:IMU) share price lifts on major collaboration announcement
• Here are the top 10 ASX shares today

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has 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 Vulcan Energy Resources Ltd (ASX: VUL) share price is tracking higher in afternoon trading today after spending much of the morning in the doldrums.

At the time of writing, shares in the geothermal energy and lithium producer are up 0.86%, trading at $10.56 after a positive company announcement today.

What did Vulcan announce?

In its release, Vulcan told ASX investors that German renewable energy industry heavyweight, Dr Günter Hilken, has joined its board. The company expects Dr Hilken’s appointment will advantage Vulcan in its push for geothermal energy to replace Russian gas supplies to Germany.

Dr Hilken is a senior advisor to Macquarie Asset Management and a director of the German energy services company, Currenta.

He is also president and chairs the board at the influential German Federation of Industrial Energy Consumers (VIK). The VIK represents 80% of industrial energy consumption and 90% of electricity production independent from utility firms in Germany.

Vulcan wants to make geothermal energy a foundation of Germany’s sustainable renewable energy supply. It is seeking to capitalise on Germany’s desire to transition away from local carbon-based energy sources and Russian gas.

What’s Russia got to do with it?

Europe is one of Russia’s biggest energy customers, with the country supplying 40% of Europe’s gas imports for heating.

As part of the West’s backlash against the Russian invasion of Ukraine, Germany is now seeking to reduce its energy dependence on Russia.

Vulcan hopes to be part of the solution as a producer of geothermal energy in Germany’s Upper Rhine Valley.

Management commentary

Dr Hilken will join the Vulcan board as a non-executive director. Chair Gavin Rezos said Dr Hilken’s skills and connections within German industry and government would be “invaluable”.

Vulcan is very fortunate to obtain Dr Hilken’s skills and deep connections within German industry, government and the renewable power sector.

These skills will be invaluable to the Board and in Vulcan’s drive for German geothermal energy to replace Russian gas used in heating.

Dr Hilken’s background in the chemical industry and supply chains will also benefit Vulcan in developing its Zero Carbon Lithium Project.

The Zero Carbon Lithium Project aims to produce geothermal energy and lithium hydroxide for electric vehicle batteries from the same deep brine source in the Upper Rhine Valley.

Vulcan share price snapshot

The Vulcan share price is up 70% over the past 12 months, but it has been one of few ASX energy/resource shares to slip in 2022.

Vulcan shares have fallen by 3% year-to-date. This compares to a 22% gain for the S&P/ASX 200 Energy Index (ASX: XEJ). The gain is due to disrupted global energy supplies as a result of the Russia-Ukraine conflict.

Vulcan has a market capitalisation of $1.37 billion based on its current share price.

The post Vulcan (ASX:VUL) share price lifts amid company quest to replace Russian gas appeared first on The Motley Fool Australia.

More reading

• Experts name 3 of the best ASX lithium stocks to buy now
• Here’s why the Vulcan (ASX:VUL) share price is charging higher today
• Why Ampol, EML, Vulcan, and Zip shares are zooming higher
• Renewable energy shift ‘is about to accelerate’ making Vulcan (ASX:VUL) shares a buy: Broker
• Vulcan (ASX:VUL) investors don’t bite after earnings, shares down 13% YTD

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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The AVZ Minerals Ltd (ASX: AVZ) share price is soaring this week. It’s gained 35.98% over the last week.

That brings the company’s stock to trade at $1.12 at the time of writing – 8.25% higher than its previous close.

However, that’s down on its intraday high – and new 52-week high – of $1.14.

For context, the S&P/ASX 200 Index (ASX: XJO) has gained 0.09% at the time of writing.

So, what’s been pushing the AVZ Minerals share price higher lately? Let’s take a look.

What’s boosting the ANZ Minerals share price this week?

There are 2 happenings that have likely helped spur the AVZ Minerals share price to gain more than 30% this week.

The first is the company’s newly instated inclusion in the ASX 200. It was welcomed among the ASX bigwigs before the market opened on Monday.

Of course, that meant any fund tracking the ASX 200 had to buy into the company to continue mirroring the index.

Additionally, managers of funds mandated to only trade ASX 200 shares were able to consider the stock for the first time this week.

Potentially as a result, the AVZ Minerals share price gained 8.28% on Friday.

Not to mention, more than 287 million of the company’s shares swapped hands that day. That made Friday the company’s most active session ever.

The other factor that has likely helped boost the newly minted ASX 200 share’s value is the rising price of lithium.

As The Motley Fool Australia’s Tristan Harrison reported yesterday, the Pilbara Minerals Ltd (ASX: PLS) share price is also surging higher this week. It’s in the green amid strong lithium prices and a bullish broker outlook.

Other lithium-focused stocks gaining alongside the AVZ Minerals share price this week include Core Lithium Ltd (ASX: CXO), Sayona Mining Ltd (ASX: SYA), and Mineral Resources Limited (ASX: MIN).

The post The AVZ Minerals (ASX:AVZ) share price has boomed a whopping 36% in a week. What’s the deal? appeared first on The Motley Fool Australia.

More reading

• Here are the 3 most heavily traded ASX 200 shares this Wednesday
• These 3 ASX 200 shares are topping the volume charts on Tuesday
• These 3 ASX 200 shares are topping the volume charts this Monday
• These are the top performing ASX lithium stocks so far in 2022
• 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. 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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