Looking for dividend shares to add to your income portfolio? Then the three listed below could be top options.

Here’s why analysts rate these dividend shares highly:

Adairs Ltd (ASX: ADH)

The first dividend share to look at is Adairs. It is a leading homewares and furniture retailer with both a physical presence and growing online presence. The latter includes through both its core brand and its online only Mocka brand.

According to a note out of UBS, its analysts have a buy rating and $5.40 price target on its shares. It is also forecasting a fully franked dividend of 19.6 cents per share in FY 2022. Based on the current Adairs share price of $3.89, this will mean a yield of 5%.

National Australia Bank Ltd (ASX: NAB)

Another dividend share to look at is NAB. This banking giant could be a top option for income investors due to its strong rebound from the pandemic, the Citi acquisition, and its cost management initiatives.

Goldman Sachs is very positive on NAB. It currently has a conviction buy rating and $30.62 price target on the bank’s shares. In addition, the broker is forecasting a fully franked $1.40 per share dividend in FY 2022. Based on the current NAB share price of $28.58, this will mean a yield of 4.9%.

Telstra Corporation Ltd (ASX: TLS)

A final dividend share to look at is this telco giant. It could be a quality option due to its very positive outlook which is being underpinned by its recently announced T25 strategy. This has management targeting solid and sustainable growth in the coming years.

The team at Morgans are fans of Telstra. They recently put an add rating and $4.44 price target on its shares. The broker also continues to forecast a 16 cents per share in FY 2022. Based on the current Telstra share price of $3.84, this will mean a yield of 4.1%.

The post 3 buy-rated ASX dividend shares for income investors appeared first on The Motley Fool Australia.

More reading

• Telstra (ASX:TLS) share price edges lower amid Digicel acquisition news
• 2 ASX shares rated as strong buys by brokers
• 2 ASX tech shares that experts love right now
• What happened for the Telstra (ASX:TLS) share price in the FY22 first quarter?
• Own NAB (ASX:NAB) shares? What to expect from its FY21 results

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 shares of and has recommended ADAIRS FPO. The Motley Fool Australia owns shares of and has recommended ADAIRS FPO and Telstra Corporation Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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On Thursday the S&P/ASX 200 Index (ASX: XJO) was back on form and pushed higher. The benchmark index climbed 0.5% to 7,311.7 points.

Will the market be able to build on this on Friday? Here are five things to watch:

ASX 200 expected to rise again

The Australian share market looks set to end the week on a positive note. According to the latest SPI futures, the ASX 200 is expected to open the day 45 points or 0.6% higher. This follows a very strong night of trade on Wall Street, which late on sees the Dow Jones up 1.4%, the S&P 500 1.6% higher, and the Nasdaq up 1.65%.

Rio Tinto quarterly update

All eyes will be on the Rio Tinto Limited (ASX: RIO) share price today when it releases its third quarter update. Investors will no doubt be keen to see if the mining giant is on course to achieve its full year guidance. This includes iron ore shipments of 325 to 340Mt, aluminium production of 3.1 to 3.3Mt, and copper production of 210 to 250kt.

Oil prices rise

Energy producers including Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) could have a strong finish to the week after oil prices pushed higher. According to Bloomberg, the WTI crude oil price is up 1.15% to US$81.36 a barrel and the Brent crude oil price is up 1.15% to US$84.13 a barrel. A stronger draw on US fuel inventories boosted prices.

Dividends

The Harvey Norman Holdings Limited (ASX: HVN) share price is trading ex-dividend for its fully franked 15 cents per share final dividend this morning and could trade lower. Elsewhere, shareholders of Eagers Automotive Ltd (ASX: APE) and HUB24 Ltd (ASX: HUB) can look forward to being paid their latest dividends later today.

Gold price rises

Gold miners Newcrest Mining Ltd (ASX: NCM) and St Barbara Ltd (ASX: SBM) will be on watch after the gold price edged higher. According to CNBC, the spot gold price is up 0.2% to US$1,798.9 an ounce. This was driven by softening bond yields.

The post 5 things to watch on the ASX 200 on Friday appeared first on The Motley Fool Australia.

More reading

• Why did the Woodside (ASX:WPL) share price slide today?
• Why ASX 200 tech shares have outperformed today
• Why the HUB24 (ASX:HUB) share price jumped 11% to a record high today
• Here are the top 10 ASX shares today
• Rio Tinto (ASX:RIO) share price climbs amid news of latest green push

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 shares of and has recommended Hub24 Ltd. The Motley Fool Australia owns shares of and has recommended Harvey Norman Holdings Ltd. The Motley Fool Australia has recommended Hub24 Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The small end of the Australian share market is home to a number of companies with the potential to grow materially in the future.

Two that investors might want to get better acquainted with are listed below. Here’s why they are highly rated:

Booktopia Group Ltd (ASX: BKG)

The first small cap ASX share to watch is rapidly growing online book retailer, Booktopia.

Thanks to the shift to online shopping and its new automated distribution centre, Booktopia was a very strong performer in FY 2021. It reported a 35% lift in revenue to $223.9 million and a 125% jump in underlying EBITDA to $13.6 million.

Also growing strongly was its active customers. At the end of the period, the company had a total of 1.8 million active customers. This was an increase of 19% year on year.

Pleasingly, FY 2022 has started positively and the company’s revenue was tracking ahead of the prior corresponding period at the end of August. A further update on its performance is likely to be released later this month.

In the meantime, the team at Morgans is very positive on Booktopia’s outlook. Its analysts currently have an add rating and $3.72 price target on its shares.

Universal Store Holdings Limited (ASX: UNI)

Another small cap ASX share to look at is this fashion retailer. Universal Store aims to deliver an ever-changing and carefully curated selection of on-trend products for younger consumers.

This strategy has been working very well, leading to strong sales and profit growth in FY 2021. Universal Store reported a 36.1% increase in sales to $210.8 million and an 87.7% jump in underlying net profit after tax to $30.4 million.

This went down well with the team at Macquarie. In response, the broker put an outperform rating and $8.90 price target on its shares.

The post 2 exciting small cap ASX shares analysts rate highly appeared first on The Motley Fool Australia.

More reading

• 2 exciting small cap ASX shares to watch
• 3 obscure ASX shares to boom from ‘revenge spending’
• 3 small cap ASX shares analysts rate highly

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 recommended Booktopia Group Limited. 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 was a mighty day for the WiseTech Global Ltd (ASX: WTC) share price today. Shares in the cloud-based logistics software company finished Thursday’s session as the third best performing share in the S&P/ASX 200 Index (ASX: XJO).

At the end of the day, the Wisetech share price climbed 7.17% to $53.51, putting it 6.6% away from its 52-week high. As a result, the company holds a market capitalisation of $17.39 billion.

Interestingly, the upwards move in value today comes without any announcement from WiseTech. In which case, let’s take a look at what else might have helped.

Rising tide lifts all boats

Rather than company-specific news helping the WiseTech share price today, the move appears more widespread.

For instance, the S&P/ASX All Technology Index (ASX: XTX) gained 3.11%, which would be partially thanks to WiseTech. However, other notable contributions came from Megaport Ltd (ASX: MP1), Xero Limited (ASX: XRO), and Afterpay Ltd (ASX: APT). This trend on Aussie markets followed the lead of US markets overnight, where the tech-heavy Nasdaq Composite index gained 0.7%.

Additionally, the push higher in tech shares comes as some market commentators warn of an impending period of stagflation. As the saying goes, a rising tide lifts all boats, and rising tech shares have carried the WiseTech share price with it today.

In simple terms, stagflation involves a mix of high inflation and slowing economic growth. During such periods investors tend to flee to ‘high performing’ shares — which might include some of the more profitable, high margin tech businesses.

As demonstrated in its FY21 result, WiseTech might meet that criteria to some investors. For reference, the company delivered a net profit after tax of $105.8 million, doubling its earnings from FY20.

At the same time, with supply chains being in such turmoil, software that optimises this industry might have the ability to retain customers with price increases to negate inflation.

WiseTech share price in review

The WiseTech Global share price has delivered sensational returns to shareholders compared to the benchmark index. For example, the logistics software company has experienced a 95.7% rise in its share price in the past year. Meanwhile, the S&P/ASX 200 Index has climbed 17.7%.

At present, Wisetech trades on a price-to-earnings (P/E) ratio of 112 times.

The post WiseTech (ASX:WTC) share price surges 8% on Thursday appeared first on The Motley Fool Australia.

More reading

• Why ASX 200 tech shares have outperformed today
• These ASX tech shares are lighting up the ASX 200 today
• Why ASX 200 tech shares are struggling this week
• Why did ASX tech shares just have such a good FY22 first quarter?
• 5 things to watch on the ASX 200 on Friday

Motley Fool contributor Mitchell Lawler has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended WiseTech Global. The Motley Fool Australia owns shares of and has recommended WiseTech Global. 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 gained on Thursday despite no price-sensitive news being released by the company.

As of Thursday’s close, the IGO share price is $8.87, 1.95% higher than it was at its previous close.

That’s a better performance than was seen from the broader market on Thursday. The S&P/ASX 200 Index (ASX: XJO) gained 0.54% over the course of the day, while the All Ordinaries Index (ASX: XAO) lifted 0.64%.

The S&P/ASX 200 Resources Index (ASX: XJR) also outperformed the broader market, gaining 1.34% on Thursday.

While IGO itself was quiet today, Boadicea Resources Ltd (ASX: BOA) released a non-price-sensitive update on IGO’s Fraser Range tenements.

Let’s take a look at the latest news from the exploration and mining company.

IGO’s work at the Fraser Range tenements

The IGO share price ended today in the green amid an announcement detailing the company’s Fraser Range activities.

IGO’s subsidiary, IGO Newsearch, previously entered into a joint venture with Boadicea Resources. Under the joint venture, IGO has 5 years of exclusive access and exploration rights for 9 of Boadicea Resources’ Fraser Range tenements in Western Australia.

Today, Boadicea Resources outlined IGO’s progress at the tenements over the 3 months ended 30 September.

According to Boadicea Resources, IGO has found potential nickel and copper accumulation at one target. It has also received positive assay results from the Orion target.

Additionally, Boadicea Resources outlined the work IGO plans to do at the tenements during the fourth quarter of 2021.

IGO is expecting to continue current heritage negotiations over most of the northern targets. It will also recover data from 89 moving loop electromagnetic surveys and conduct multiple air-core drilling programs.

IGO share price snapshot

Today’s gains are just the latest for the IGO share price, which has been performing well this year.

It is currently 32% higher than it was at the start of 2021. It has also gained 103% since this time last year.

The post IGO (ASX:IGO) share price lifts after exploration update appeared first on The Motley Fool Australia.

More reading

• The Pilbara Minerals (ASX:PLS) share price surges on resource upgrade
• Top brokers name 3 ASX shares to sell today
• IGO (ASX:IGO) share price lifts amid Western Areas rumours

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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It has been a bumper day for ASX lithium shares, with many players surging double digits and breaking out to fresh all-time highs.

On the larger end of town, Pilbara Minerals Ltd (ASX: PLS) and Orocobre Limited (ASX: ORE) rallied 5.1% and 1.9% respectively, but both around 15% away from September record highs.

Australia’s next lithium producer Core Lithium Ltd (ASX: CXO) jumped 20% to fresh all-time highs of 57 cents.

Liontown Resources Limited (ASX: LTR), which recently demerged its non-lithium assets in Minerals 260 Ltd (ASX: MI6), surged 13.2% to near all-time highs of $1.585.

Firefinch Ltd (ASX: FFX), which has partnered with Chinese lithium giant Jiangxi Ganfeng Lithium to progress its Goulamina Project, rallied 5.74% to 65.4 cents.

Other notable ASX lithium shares, all of which are explorers include Argosy Minerals Limited (ASX: AGY), Lake Resources N.L. (ASX: LKE) and Avz Minerals Ltd (ASX: AVZ), closed Thursday’s session up a respective 13.1%, 2.7% and 3.3%.

What’s driving ASX lithium shares?

Lithium is expected to play a vital role in the global transition towards net zero emissions.

Lithium prices have already rallied beyond 2018 highs, with Benchmark Minerals Intelligence reporting that Chinese battery-grade lithium carbonate surged 26.5% in the final two weeks of September to 160,000 yuan (US$24,800) a tonne.

This has in turn brought many ASX lithium shares from multi-year lows in late 2020 to all-time highs in recent weeks.

This might only be the tip of the iceberg.

The International Monetary Fund (IMF) released its world economic outlook report this month, citing that:

In the IEA’s Net Zero by 2050 emissions scenario,total consumption of lithium and cobalt rises by a factor of more than six, driven by clean energy demand.

From a pricing perspective, the report said:

Results show that prices would reach historical peaks for an unprecedented, sustained period under the Net Zero by 2050 emissions scenario. The prices of cobalt, lithium, and nickel would rise several hundred percent from 2020 levels and could delay the energy transition.

This could make lithium a very lucrative business and bode well for both established players and prospective explorers.

The post Why ASX lithium shares are booming on Thursday appeared first on The Motley Fool Australia.

More reading

• Here are the top 10 ASX shares today
• Which ASX 300 shares are the major movers on Thursday?
• These 3 ASX 200 shares are topping the volume charts this Thursday
• Up another 16%, the Core Lithium (ASX:CXO) share price is surging this week. Here’s why
• Here are the 3 heaviest traded ASX 200 shares this Wednesday so far

Motley Fool contributor Kerry Sun 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 Zoono Group Ltd (ASX: ZNO) share price took flight in trading today. This came after the company released its quarterly activities report.

At the end of Thursday’s session, shares in the antimicrobial solutions company were 26.55% above their previous close, hitting 50 cents. However, Zoono reached an intraday high of 56.5 cents apiece earlier in the afternoon.

Let’s take a look at what had investors excited today.

Improving margins and continued expansion

Investors were bidding the Zoono share price higher with ferocity on Thursday. More than 2.5 million shares were traded, which is above average for the sanitiser company.

According to the release, Zoono achieved NZ$7.5 million in invoiced sales during the first quarter. However, this consisted of NZ$4.7 million of delivered sales, with the other NZ$2.8 million yet to be shipped.

Despite the company’s sales falling from its COVID-19 peaks, it continues to push the expansion of its markets and customers.

Importantly, Zoono is focusing on regions where it is uneconomical for other foreign companies to compete. This has assisted in lifting the company’s gross profit margin from 59% to 71%, which can only be a positive for the Zoono share price.

Additionally, it is aiming to obtain a direct presence in all major European Union markets in the next 6 to 9 months. Furthermore, following a successful trial with Keolis Group in France, Zoono’s products will be used across 27 districts where transport systems operate. On top of this, several additional major new customers in France are expected to be signed this quarter.

Positively, Zoono suggested it is unlikely there will be a need to raise capital in the foreseeable future. At the end of the quarter, the company held NZ$10.1 million in cash equivalents.

Zoono share price snapshot

Taking a look at the 1-year chart, we can see the Zoono share price has been in decline since July 2020. The company received a massive boost to its valuation amid the need for additional sanitisation due to COVID-19.

However, sales have dwindled in sync with the increase in vaccinations around the world. In turn, the Zoono share price is down 67% over the past year.

Finally, the company trades on a price-to-earnings (P/E) ratio of 15.4 times based on its 12-month trailing earnings.

The post Zoono (ASX:ZNO) share price rockets 26% on quarterly update appeared first on The Motley Fool Australia.

More reading

• Why did the Woodside (ASX:WPL) share price slide today?
• Why ASX 200 tech shares have outperformed today
• Own BHP (ASX:BHP) shares? Here’s the miner’s latest push to reduce emissions
• Why did the Novonix (ASX:NVX) share price leap 6% on Thursday?
• Why is the Pushpay (ASX:PPH) share price struggling lately?

Motley Fool contributor Mitchell Lawler 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 200 Index (ASX: XJO) managed to finally have a day in the green today. The ASX 200 closed this Thursday at 7,311.7 points, up a healthy 0.54%. But one ASX 200 share didn’t get the invite. That would be the Woodside Petroleum Limited (ASX: WPL) share price.

Woodside shares had a clanger today. This ASX energy share closed today’s trading session at $24.99 a share, down 1.23%. That puts Woodside in the upper-middle of its 52-week range ($17.17 to $27.60).

So why did the Woodside share price go backwards when the broader market powered forwards today?

The first thing we should look at for an oil driller like Woodside is the price of crude oil itself. Since Woodside’s business model revolves around drilling ‘black gold’ out of the ground, any changes to the underlying price of crude oil directly influence this company’s profitability.

Why did the Woodside share price underperform the ASX 200?

Lo and behold, oil markets have been a little shaky over the past day or so. As my Fool colleague James heralded this morning, West Texas Intermediate (WTI) crude oil slid overnight, falling 0.2% to US$80.50 a barrel. Brent crude also fell by a similar amount to US$83.24.

While this slide might not look like anything too significant, especially seeing as it still leaves oil at a historically high level, it could be causing concern on the demand side of the market. As we reported this morning, “demand concerns appear to be the reason behind the softening oil prices”.

This thesis gels with what other ASX oil companies did today. Woodside wasn’t the only share in the energy space to go backwards. Woodside’s fellow drillers Santos Ltd (ASX: STO) and Oil Search Ltd (ASX: OSH) also lost steam. Santos shares ended up losing 1.34% to $7.34 today, while Oil Search fell 0.66% to $4.54 a share.

So where to now for the Woodside share price?

As my Fool colleague Tristan covered just yesterday, brokers at Macquarie Group Ltd (ASX: MQG) reckon there is a little more oil in the barrel for Woodside shareholders.

Macquarie currently rates Woodside shares with a 12-month price target of $27.25. That implies a potential 12-month upside of roughly 9% on today’s levels. The broker is optimistic Woodside will be able to pay out healthy dividends going forward and likes the company’s current valuation.

At the current Woodside share price, this company has a market capitalisation of $24.34 billion and a dividend yield of 2.25%.

The post Why did the Woodside (ASX:WPL) share price slide today? appeared first on The Motley Fool Australia.

More reading

• Why ASX 200 tech shares have outperformed today
• Here are the top 10 ASX shares today
• Rio Tinto (ASX:RIO) share price climbs amid news of latest green push
• These 3 ASX 200 shares are topping the volume charts this Thursday
• ASX 200 (ASX:XJO) midday update: HUB24 & Netwealth impress, A2 Milk surges again

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 owns shares of and 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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Tech shares on the S&P/ASX 200 Index (Index:^AXJO) have made a big comeback on Thursday, leaving investors wondering if the beaten down sector has reached a turning point.

The ASX 200 tech share index surged by over 4% when the broader share benchmark “only” managed a gain of 0.5%.

Some of the best known tech names led the gains. The WiseTech Global Ltd (ASX: WTC) share price jumped over 7%, Appen Ltd (ASX: APX) share price added 6.2% and Xero Limited (ASX: XRO) share price rallied more than 5%.

ASX 200 tech shares are following the leader higher

ASX 200 tech shares have found favour today after the Nasdaq Composite (INDEXNASDAQ: .IXIC) delivered a strong showing last night.

The US tech composite gained 0.7% when the more general S&P 500 (INDEXSP: .INX) could only eke out a 0.3% advance.

The outperformance of our tech shares stand in sharp contrast to how they traded over the past year. Several of the one-time darlings are nursing big losses since January.

What has been eating ASX 200 tech shares?

This is largely because of US interest rate expectations. The Federal Reserve is poised to wind back its quantitative easing (QE) program. That’s also feeding expectations that it could start lifting interest rates sooner than expected.

The extra liquidity from QE and record low rates have benefitted risk assets. Any talk about these tailwinds being wound back will hit growth shares harder.

ASX 200 tech shares have essentially personified growth equity on our market. And it doesn’t help that our central bank is starting to take away the punch bowl from the party.

Australian rates could rise sooner than you’d think

The Reserve Bank of Australia is winding back QE, although it stated repeatedly that rates won’t rise till 2024.

But if the Fed raises rates soon, the RBA may be forced to sing a different tune. Such is the globalised world we live in where relative rates can be more important than actual rates.

Is the rally a dead cat bounce?

Given that the rate rise risk is not abating (in fact, some would argue it’s rising as the world can’t seem to shake inflation fears), is the recovery in ASX 200 tech shares a dead cat bounce?

Some would certainly argue this convincing point. But supporters of tech shares can take heart that there could be a more enduring reason for the rebound in the sector than just playing follow the NASDAQ leader.

If the risk of persistent inflation were to solidify further, the shares that tend to do best as those with pricing power.

A stronger tailwind for some ASX 200 tech shares

This means companies with a strong market position. They can increase prices without hurting demand for their products or services.

In many respects, some ASX 200 tech shares fit this bill. This is either because they have created such a “sticky” service where it would be costly or too inconvenient to swap to a rival. Or it may be because their offering is so innovative that nothing really comes close.

Mind you, not all of these shares have pricing power. And it isn’t a given that this trait would be enough to keep such shares rallying in the face of rate hikes.

The post Why ASX 200 tech shares have outperformed today appeared first on The Motley Fool Australia.

More reading

• Why did the Woodside (ASX:WPL) share price slide today?
• Here are the top 10 ASX shares today
• Rio Tinto (ASX:RIO) share price climbs amid news of latest green push
• Could the Appen (ASX:APX) share price jump to $17 by Christmas?
• These 3 ASX 200 shares are topping the volume charts this Thursday

Motley Fool contributor Brendon Lau has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Appen Ltd, WiseTech Global, and Xero. The Motley Fool Australia owns shares of and has recommended Appen Ltd, WiseTech Global, and Xero. 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 BHP Group Ltd (ASX: BHP) share price closed higher on Thursday. This comes after the company revealed its latest efforts to reduce greenhouse gas emissions.

At the final bell, BHP shares were changing hands for $37.80, up 0.56%.

BHP on verge on striking a deal

BHP today advised it expects to enter into renewable energy supply arrangements with Iberdrola in the near future.

Founded in 1992, Iberdrola is a Spanish multinational electric utility company that is spearheading the development of green hydrogen. The energy business is aiming to meet demand for electrification and decarbonisation in sectors such as industry and heavy transport.

Under the deal, half of the energy needs for South Australia’s Olympic Dam will come from renewable sources by 2025. This will see the Olympic Dam reduce its emission position to zero for 50 per cent of its electricity consumption by 2025.

The energy will be supplied by Iberdrola, coming from the Port Augusta Renewable Energy Park in South Australia. Due to be completed in July 2022, this will become Australia’s largest solar-wind hybrid plant.

BHP noted it would be the primary customer of the new renewable facility once constructed. In turn, this is expected to help it achieve its medium-term target to reduce operational greenhouse gas emissions by 30% from FY20 levels by FY30.

BHP Olympic Dam asset president Jennifer Purdie commented:

These arrangements will support an exciting new renewable energy project which will contribute to South Australia’s renewable energy ambitions.

Olympic Dam’s copper has an important role to play to support global decarbonisation and the energy transition as an essential product in electric vehicles and renewable infrastructure. Reducing emissions from our operations will further enhance our position as a sustainable copper producer.

It’s worth noting that BHP entered into renewable energy agreements for its operations in Western Australia in 2021, Queensland in 2020, and Chile in 2019.

BHP share price summary

Over the past 12 months, BHP shares have moved in circles to post a small gain of 5%. However, the latest iron ore rout has led the company’s shares to fall by 10% this year.

BHP has a market capitalisation of roughly $112.6 million, with almost 3 billion shares on its books.

The post Own BHP (ASX:BHP) shares? Here’s the miner’s latest push to reduce emissions appeared first on The Motley Fool Australia.

More reading

• 5 things to watch on the ASX 200 on Thursday
• Why did the BHP (ASX:BHP) share price have such a lousy FY22 first quarter?
• Could the Woodside (ASX:WPL) share price hit $27.50 by the end of 2021?
• BHP (ASX:BHP) share price rises amid coal asset sale rumours
• ASX 200 (ASX:XJO) midday update: Westpac’s $1.3bn earnings hit, Ansell sinks

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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