The AMP Ltd (ASX: AMP) share price is on the rise this morning. This comes amid the financial services company announcing a divestment from its private markets business, PrivateMarketsCo.

At the time of writing, AMP shares are fetching 99.5 cents apiece, up 5.85%. This means its shares have now leaped almost 10% higher in the past week.

PrivateMarketsCo sells infrastructure debt platform

Investors are driving up the AMP share price following the company’s latest statement to the ASX today.

In its release, AMP advised that PrivateMarketsCo entered into a binding agreement to sell its infrastructure debt platform to Ares Holdings LP, a subsidiary of Ares Management Corporation.

The agreement follows PrivateMarketsCo’s strategic decision to focus on managing equity investments in real estate and infrastructure. In addition, this will simplify the business structure and enable the company to fuel growth from the transaction.

In total, Ares Holdings will pay PrivateMarketsCo a total cash consideration of $428 million for the infrastructure debt platform.

An incentivised $150 million of sponsor investments and rights to carried interest in closed infrastructure debt funds is available. This is provided performance hurdles are met by their due date.

The cash proceeds from the sale will be used to strengthen the capital position of the AMP group.

Separation of the balance sheet and allocations of surplus capital between AMP Limited and PrivateMarketsCo is continuing as part of the demerger preparations.

The demerger remains on track to complete late in the first half of 2022.

Commenting on the news driving the AMP share price, PrivateMarketsCo chief executive Shawn Johnson said:

This transaction provides strong outcomes for both our Infrastructure Debt clients and our shareholders. Infrastructure Debt will further accelerate its growth as part of Ares’ global alternative investment platform, benefitting the clients who have supported it through its early stages under our ownership.

PrivateMarketsCo and AMP will realise significant value from the divestment, as well as retaining our valuable sponsor investments and carried interest in the closed Infrastructure Debt funds. This will provide a strong revenue stream in coming years as we demerge PrivateMarketsCo and accelerate the momentum in our business.

AMP share price snapshot

Over the last 12 months, the AMP share price has tracked almost 40% lower, with year-to-date down by more than 35%. The company’s shares hit a multi-decade low of 88.5 cents in September 2021, before moving in circles.

In contrast, the S&P/ASX 200 Financials Index (ASX: XFJ) has gained 18% from this time last year and is up 20% year-to-date. The sector also registered a 52-week high of 6,956.4 points in late October.

Undoubtedly, AMP shares are lagging behind the Financial Index which has continued to accelerate since March 2020.

Based on today’s price, AMP commands a market capitalisation of roughly $3.27 billion, with approximately 3.27 billion shares on issue.

The post Here’s why the AMP (ASX:AMP) share price is racing 6% higher today appeared first on The Motley Fool Australia.

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

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The Rio Tinto Limited (ASX: RIO) share price is in the green this morning despite reports one of its major lithium projects could soon be paused due to community protests.

The Jadar project, located in Serbia, has been the focus of intense debate within the European country, with protestors hitting the streets to voice concerns about its environmental impact.

Jadar’s development plans were reportedly suspended by the local government last week. Now, Rio will have to interrupt the project’s momentum to host public dialogue over the mine.

At the time of writing, the Rio Tinto share price is $100.23, 1.02% higher than its previous close.

For context, the S&P/ASX 200 Index (ASX: XJO) is also up today, having gained 0.65% in early morning trading.

A quick note before we start: All quotes have been translated from Serbian.

Rio Tinto share price maintains positive trajectory

The managing director of Rio Tinto’s Serbian subsidiary, Vesna Prodanović, has reportedly told the local media outlet, Beta that the company will be stopping works to “acquaint residents with all aspects of our project and answer all questions”.

Fortunately for investors, the Rio Tinto share price remains on a positive trajectory today and is up 2.87% so far this week.

However, this delay could be detrimental to the company’s push into lithium. According to Rio Tinto, the Jadar project is one of the world’s largest greenfield lithium projects.

Rio plans to use the minerals from Jadar to create batteries for electric vehicles and renewable energy storage.

In a recent investment seminar, Rio Tinto stated it expects the first production of lithium from Jadar to occur in 2026. Though, that’s dependant on receiving final permits and approvals from Serbian stakeholders.

Prodanović told the publication that, so far, only a memorandum of understanding has been signed for the project.

Jadar’s target production is up to 58,000 tonnes of battery-grade lithium carbonate, 2.16 million tonnes of boric acid, and 255,000 tonnes of sodium sulphate each year.

Rio Tinto management commentary

Discussing the pause at Jadar, Beta quoted Prodanović as saying:

It is extremely difficult in such an intense anti-mining and negative campaign to have a reasonable debate on any topic.

Prodanović reportedly told Beta that the company has been buying land for the project since August 2020. It supposedly had to do so to obtain building permits.

It’s the second time news of Rio Tinto’s lithium push has made headlines this week. On Wednesday, Rio Tinto announced a $1.15 billion acquisition of the Argentinian Rincon lithium project.

Over the year to date, the Rio Tinto share price has fallen 13%.

The post Rio Tinto share price gains despite reports $3.3b lithium project to be halted appeared first on The Motley Fool Australia.

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Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. 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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There are a certain number of ASX shares that are compelling options for 2022.

Some businesses are expecting a lot of growth in the coming years and they have growth strategies to do what they can to fulfil that potential.

Management are focused on initiatives that can drive the businesses higher. Here are two leading opportunities:

Pushpay Holdings Ltd (ASX: PPH)

Pushpay is a leading ASX tech share. It is a electronic payment business that facilitates billions of (US) dollars of donations to large and medium US churches.

The business continues to see improvement in various metrics. In the first half of FY22, total processing volume increased 9% to US$3.5 billion, revenue grew 9% to US$93.5 million, the gross profit margin increased from 68% to 69% and the net profit after tax (NPAT) surged 43% to US$19.1 million.

Pushpay is working on developing the functionality of its suite of solutions to serve the Catholic segment of the market. It’s expecting the benefits from the Catholic segment to be realised over the course of the following years. It’s targeting acquiring more than 25% of Catholic church management system and donor management system market over the next five years.

The company continues to look for acquisition opportunities that can improve the business. It has previously bought Church Community Builder and Resi Media, which has improved its church management tools and livestreaming capabilities.

Over the last two months, the Pushpay share price has fallen more than 25%. According to Commsec, it’s now valued at 24x FY23’s estimated earnings.

Pinnacle Investment Management Group Ltd (ASX: PNI)

Pinnacle is an ASX share that makes investments in high-quality investment management businesses and helps them grow.

For the fund managers, Pinnacle can provide a number of benefits including seeding funds under management (FUM) and working capital, distribution and client services, middle office and fund administration, technology and other infrastructure. Compliance, finance and legal services are also provided.

All of that is offered so that the investment professionals can focus on the investing, not any of the other back-office tasks.

It’s investing in a number of fund managers like Hyperion, Plato, Solaris, Spheria, and Firetrail.

The company continues to expand its portfolio as well as seeing organic growth. It recently invested in the private equity investment manager Five V which provides attractive economics.

As at 31 October 2021, its aggregate affiliate FUM had grown another 1.7% to $89.4 billion, or 6.3% over the four months to 31 October 2021 excluding the $3.9 billion outflow of the Omega passive mandate which only made “very modest” fees. Aggregate retail FUM increased by 13.3% to $23 billion.

In FY22, it’s expecting growth. The FUM at the last update was more than 30% ahead of FY21’s average FUM.

Pinnacle has said it’s committed to taking advantage of the “significant” offshore opportunity by evolving into a global multi-affiliate platform.

It has partnered with Greg Dean, the former principal manager at Cambridge Global Asset Management, to launch its first North American affiliate, based in Toronto, Canada.

According to Commsec, the Pinnacle share price is valued at 29x FY23’s estimated earnings.

The post 2 very compelling ASX shares for 2022 appeared first on The Motley Fool Australia.

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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 PINNACLE FPO and PUSHPAY FPO NZX. The Motley Fool Australia owns and has recommended PINNACLE FPO and PUSHPAY FPO NZX. 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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If you have a penchant for investing in small cap shares, then you might want to look at the two listed below.

Here’s why these are highly rated by analysts right now:

MoneyMe Ltd (ASX: MME)

The first small cap ASX share to watch is MoneyMe. It is a fintech that uses technology and artificial intelligence to deliver highly automated credit products and customer experiences.

MoneyMe notes that it originates loans through a diversified mix of credit products and distribution channels to create significant scale and long-term customer advantages. This will soon include the SocietyOne business, which MoneyMe recently signed an agreement to acquire for $132 million.

In response to the acquisition, Morgans retained its add rating and lifted its price target to $2.57.

Morgans commented: “The acquisition seems a good strategic fit, in our view, with MME adding significant scale to its already rapidly growing business. From FY24, A$17m in pre-tax cost synergies and greater than A$15m in revenue synergies are expected. We have the transaction as cash EPS accretive post synergies and integration costs from FY24 (~6% – ex Revenue synergies).”

“Whilst not without integration risk, the deal should allow MME to continue to deliver strong book growth as it penetrates this additional customer base and utilises new distribution/marketing channels,” it added.

Nitro Software Ltd (ASX: NTO)

Another small cap ASX share to look at is Nitro Software. It is a global document productivity software company aiming to drive digital transformation in organisations across multiple industries globally.

Nitro’s core solution is the Nitro Productivity Suite. It provides integrated PDF productivity and eSignature tools to customers through a horizontal, software as a service and desktop-based software suite.

Bell Potter is very positive on the company, particularly given its recent “game-changing” acquisition of Connective NV for ~US$81 million.

The broker commented: “The rationale for the acquisition is it will accelerate and enhance Nitro’s eSign, eID (electronic identity) and document workflow capabilities. It will also position Nitro to become the third global player in the enterprise eSign market along with DocuSign and Adobe.”

Bell Potter currently has a buy rating and $4.50 price target on the company’s shares. This compares favourably to the latest Nitro share price of $2.40.

The post Analysts say these small cap ASX shares could be going places in 2022 appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Nitro Software 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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It’s been a wild ride for CSL Limited (ASX: CSL) shareholders this year.

Before the market opened on Friday, the biotechnology stock had only changed 2.4% upwards in all of 2021 to trade at $291.83. 

But along the way, investors had to hold on for dear life through a 52-week high of $319.78 and a low of $242.

So where will CSL shares head in 2022?

Next 3 to 6 months are critical for CSL

To finish the year, CSL raised $6.3 billion of capital to fund its acquisition of Swiss company Vifor Pharma AG (SWX: VIFN).

According to Redpoint Investment Management chief Max Cappetta, it was “the single largest primary raising in Australian history” and allowed the takeover to complete at an 8% discount to market price.

“On paper, the merits of the transaction are for an immediate uplift in EPS [earnings per share] for the group, however, there are some uncertainties related to patent litigation at Vifor,” he told The Motley Fool.

“This acquisition presents a new and valuable growth opportunity for a company which has prided itself on exemplary global growth over the past two decades.”

Currently, Cappetta’s team estimates that the CSL share price is at a “slight premium” to what they think is fair value.

“The next 3 to 6 months will be critical for the company to show that this acquisition will deliver the growth that the company needs to reaffirm its long-term share price performance,” he said.

“All eyes will be on the management discussion at their mid-year result in February.”

‘Pipeline of lucrative products under development’

Analysts at Citi are perhaps more bullish on CSL’s share price.

Last week they slapped a “buy” rating on the stock with a price target of $340, which is a 16.5% upside to the current level.

As well as the Vifor acquisition giving the business additional capability in kidney disease and iron deficiency treatments, CSL’s plasma collection operations should pick up as the US moves past COVID-19 restrictions.

“But it doesn’t stop there,” reported The Motley Fool’s James Mickleboro.

“Thanks to its ~US$1 billion spend on R&D annually, CSL has a pipeline of lucrative products under development to drive its future growth.”

The post Where are CSL (ASX:CSL) shares headed in 2022? appeared first on The Motley Fool Australia.

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Motley Fool contributor Tony Yoo owns CSL Ltd. 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 healthcare sector has been a great place to invest over the last decade. And while COVID-19 has certainly thrown a spanner into the works recently, the long-term outlook for the sector remains very positive.

With that in mind, listed below are two ASX healthcare shares that could be great options for patient investors:

Nanosonics Ltd (ASX: NAN)

The first ASX healthcare share to look at is Nanosonics. It is the infection control specialist behind the industry-leading trophon EPR disinfection system for ultrasound probes. This system has been growing its footprint at a strong rate over the last few years, generating solid unit and consumables sales.

The company is also working on a number of new products. One is Nanosonics Coris, which aims to transform the cleaning of flexible endoscopes. This is highly important given that more healthcare-associated outbreaks have been linked to contaminated endoscopes than any other medical device. And given how there are over 60 million flexible endoscopy procedures being undertaken across the United States and the five largest European markets each year, the company has a significant addressable market once Coris launches in 2023.

Morgans is positive on Nanosonics. It currently has an add rating and $6.97 price target on its shares.

Ramsay Health Care Limited (ASX: RHC)

Another ASX healthcare share to look at is Ramsay Health Care. It is one of the world’s leading private healthcare companies, providing services to over 8 million patients each year through a network of facilities across 10 countries and over 500 locations.

Trading conditions have been tough for Ramsay over the last 18 months and its performance in FY 2022 is likely to suffer because of this. However, once the pandemic passes, the company looks well-placed to return to strong growth. Particularly given the pent-up demand for healthcare services and the recently announced acquisition of Elysium Healthcare.

Goldman Sachs believes the strong potential for improvement in near-term fundamentals is still not reflected in current trading multiples. In light of this, it sees a lot of value in the Ramsay share price at current levels.

The broker recently reiterated its buy rating and $74.00 price target on the company’s shares.

The post These ASX healthcare shares could be excellent buy and hold options appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Nanosonics Limited. The Motley Fool Australia owns and has recommended Nanosonics Limited. The Motley Fool Australia has recommended Ramsay Health Care 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 Bega Cheese Ltd (ASX: BGA) share price was a very poor performer on Thursday.

The diversified food company’s shares finished the 10% lower at $5.04.

This was an improvement on the 52-week low of $4.84 it hit during intraday trade.

Why did the Bega share price sink?

Investors were selling down the Bega share price yesterday following the release of a trading update.

Although the company revealed that it expects to deliver strong operating earnings growth in FY 2022, it was still well short of the market’s expectations.

Bega has provided guidance for normalised EBITDA in the range of $195 million to $215 million. This represents a year on year increase of 37% to 51%. However, Goldman Sachs was expecting $227 million and the Bloomberg consensus estimate stood at $222 million.

Is this a buying opportunity?

Despite the sharp pullback in the Bega share price yesterday, the team at Goldman Sachs aren’t in a rush to invest.

This morning the broker reiterated its neutral rating and cut its price target by 13% to $5.65.

It notes that Bega’s “earnings have been impacted by a decline in milk supply and pressure on margins, caused by continued strong competition for milk amongst processors.”

In light of this, Goldman has revised its earnings estimates meaningfully lower for the coming years.

It explained: “The key drivers of our revisions are: slightly lower milk intake volumes; and lower processing margins due to elevated procurement costs. We had previously expected global dairy commodity prices to offset elevated Australian farm gate milk prices. However, it has become apparent that continued strong demand from processors and retailers, combined with a decline in supply, has created a margin squeeze for BGA.”

Overall, the broker doesn’t see enough value in the Bega share price at the current level for a more positive rating and stays neutral.

The post Is the Bega (ASX:BGA) share price a buy after crashing 10%? appeared first on The Motley Fool Australia.

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

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It has been a mixed year for the BHP Group Ltd (ASX: BHP) share price. In 2021 to date, BHP shares have dropped by 4% to around $41.

However, BHP shares have fallen as low as approximately $35 and gone as high as $54 this year. Considering how big BHP is, that is a large valuation change over one year. Indeed, both the high and the low were felt in the second half of the year.

But what could happen to the BHP share price in 2022?

Brokers are somewhat mixed on the business’ prospects over the next year.

For example, analysts at UBS currently rate the business as ‘neutral’. However, the UBS price target of $37 is actually 10% lower than where it is today, suggesting a sizeable decline over the next 12 months.

UBS has noted the plan by BHP to unify its Australian and UK companies under the Australian business. The cost to do this is lower than it used to be and it will simplify the structure of the business, making it easier to do transactions such as the divestment of its oil business to Woodside Petroleum Limited (ASX: WPL).

The broker thinks that divesting the oil business is a good move because of the possibility of a future de-rating because of environmental concerns.

But at the positive end of various broker opinions, Macquarie Group Ltd (ASX: MQG) thinks that it is a buy. Macquarie’s price target on the resources giant is $52, which is 26% higher.

Based on Macquarie’s earnings projections, the BHP share price is valued at 9x FY22’s estimated earnings and 13x FY23’s estimated earnings.

Macquarie thinks that steel demand is rising again in China over the last several weeks whilst inventory of steel drops.

Macquarie notes that BHP’s profit is reliant on commodity prices.

What is the resources outlook?

Macquarie has already mentioned that things are looking a bit better for iron ore, in the shorter-term at least. However, some brokers like UBS have said that they expect the iron ore price to settle lower over the next couple of years.

BHP itself said in August that it was anticipating a continuation of strong end-use demand conditions in China for steel and ongoing recovery in the rest of the world over the course of FY22. Iron ore has been a substantial influence for the BHP share price over the last year.

Copper prices have been strong and the short-term outlook for demand was “constructive”. In the longer-term, BHP said that both demand and supply factors indicate that copper is an attractive avenue for future growth.

BHP is also expecting nickel prices will benefit substantially from the global electrification mega-trend.

Potash prices are rising from both “favourable farm economics” and constrained supply. Over the longer-term, management expect that potash will benefit from the trends of rising population, changing diets and the need for sustainable intensification of agriculture.

The post Could 2022 be a good year for the BHP (ASX:BHP) share price? appeared first on The Motley Fool Australia.

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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. 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 Commonwealth Bank of Australia (ASX: CBA) share price has been a strong performer over the course of 2021.

Since the start of the year, the banking giant’s shares have accelerated to post a gain of more than 20%.

At yesterday’s market close, CBA shares finished the day up a further 0.33% to $100.11. This is not far off its all-time high of $110.19 achieved early last month.

In comparison, the S&P/ASX 200 Index (ASX: XJO) tracked 12% over the same time frame. The benchmark index reached a record high of 7,632 points in mid-August, before going on a mini-rollercoaster ride.

With the year almost done, investors may be wondering what’s ahead for Australia’s largest bank in 2022.

Below we take a glance at some of the key dates to watch out for.

Financial calendar for CBA in FY22

Recently, Australia’s largest bank released its calendar for the 2022 financial year. This includes the first-quarter trading update (Q1 FY22) which had already passed on 17 November 2021.

The biggest date around the corner will be 9 February, when CBA plans to deliver its half-year results. Along with its six-month performance review, the interim dividend is also to be announced.

The ex-dividend date for the interim dividend is scheduled to fall one week later on 16 February. This is when investors must have purchased CBA shares to be eligible for the upcoming interim dividend payment.

In addition, eligible shareholders can elect to participate in the dividend reinvestment plan (DRP) with the deadline being 18 February. For those who participate, a discount will be applied to the volume-weighted average price of receiving CBA shares.

The payment date for the interim dividend is set for 30 March, when investors will collect a portion of the bank’s profits.

In contrast, CBA handed shareholders a fully franked interim dividend of $1.50 per share for the first half of FY21.

The above process will again repeat itself with CBA releasing its full-year results on 10 August.

The board will declare the final dividend for FY22 with the ex-dividend on 17 August. This will be followed by the record day on 18 August, and the last election date for shareholders to opt-in to the DRP on 19 August.

The final dividend payment in which shareholders can expect to be rewarded will be on 29 September. Previously, the company paid out a fully franked final dividend of $2.00 per share in FY21.

Lastly, CBA will hold its 2022 annual general meeting on 12 October. This will likely recap the events over the last 12 months, as well as the near-term outlook for the bank.

CBA share price snapshot

Based on today’s price, CBA presides a market capitalisation of roughly $170.83 billion, with approximately 1.71 billion shares on issue.

The company currently has a trailing dividend yield of 3.50%.

The post Own CBA (ASX:CBA) shares? Here are the key dates for your investor diary in 2022 appeared first on The Motley Fool Australia.

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

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The Fortescue Metals Group Limited (ASX: FMG) share price has continued it accent in recent times, following positive investor sentiment.

This week, the mining outfit delivered news regarding a breakthrough achievement for its green offshoot, Fortescue Future Industries (FFI).

At Thursday’s market close, the iron ore producer’s shares dipped by 1.44% to $19.16 apiece.

Fortescue Future Industries make progress

According to its media release, Fortescue Future Industries surpassed a milestone target in its quest into the green hydrogen industry.

The global green energy and product company announced it has designed and built its own electrolyser to produce renewable hydrogen.

A small team from Fortescue Future Industries’ manufacturing arm developed the innovative electrolyser in their Western Australia facility. This is the first time the company has been able to create industrial grade hydrogen.

Fortescue Future Industries is aiming to produce 15 million tonnes of green hydrogen annually by 2030. 

Currently, the company is in the process of installing solar panels at its Dawson Road facility. Once complete, the electrolyser will be able to produce green hydrogen from solar electricity in 2022.

A pressurized alkaline system had been used to generate the hydrogen. The hydrogen gas management system is now fully operational and will be used to test all of the company’s prototypes and concepts.

Fortescue Future Industries CEO, Julie Shuttleworth commented:

This is another outstanding achievement from our FFI in-house scientists and engineers – who are continuing to break new ground. The FFI team has designed and operated our own electrolyser system which will be key to developing FFI’s green hydrogen production into the future.

Fortescue Future Industries chair, Dr Andrew Forrest added:

This electrolyser was internally designed, built and commissioned by a small, dedicated team of experts – an impressive achievement that is representative of the hard work that is happening across the whole of FFI.

The team spent thousands of hours on this project, facing setbacks along the way, but they pushed forward and managed to produce hydrogen before their stretch target date.

Fortescue share price snapshot

Up until the end of July, Fortescue shareholders were enjoying strong gains, hitting an all-time high of $26.58 apiece. That all came crashing down in the following months, with its shares touching a low of $13.90 in early October.

Since then, its shares have rebounded to around the half-way levels achieved in the first half of 2021.

On valuation metrics, Fortescue commands a market capitalisation of roughly $58.99 billion and has approximately 3.08 billion shares on issue.

The post This week, Fortescue (ASX:FMG) produced its own hydrogen for the first time. What does this mean? appeared first on The Motley Fool Australia.

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

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