The Aurizon Holdings Ltd (ASX: AZJ) share price is edging higher in morning trade today, currently trading up 0.13% at $3.85.

Aurizon shares are on the move despite there being no market-sensitive news out of the company’s corner today.

However, it earlier released its 2021 sustainability report to the market.

Here’s what we know.

What did Aurizon release?

Aurizon, Australia’s largest rail freight operator, released its 2021 sustainability report, highlighting its performance in this domain for the year.

In its report, the company explained that 80% of its employee base is in regional Australia while 23% of its workforce is female, up from 22% the year prior.

In addition, the company has launched its climate strategy and action plan which includes a net-zero operational emissions target by 2050.

The company said it achieved a 2% decrease in greenhouse gas emissions intensity from the year prior while also supporting 46 charities through its “Community Giving Fund”.

Additionally, Aurizon highlighted how it “create[s] tangible and sustainable value for [its] primary stakeholders, including investors, customers, employees, and the community”.

It measures this from its dividend and share buyback programs which, the company says, “ha[ve] been significant and provide a platform for the future”.

To date, Aurizon has provided a “stable cash flow” to investors, delivering more than $4 billion to shareholders through dividends and share buybacks.

For instance, in FY21, the company returned almost $530 million to its shareholders and completed a $300 million share buyback of its own shares.

According to the company, this “increased shareholders’ effective interest by approximately 4%”.

Aurizon also detailed its climate action program where it has already made a 20% reduction in its “locomotive carbon footprint since 2010”.

It is targeting net-zero emissions by 2050 and is investing $50 million over the next 10 years to achieve a reduction target of 10% by 2030.

Aurizon share price snapshot

The Aurizon share price has had a difficult year to date, posting a loss of 0.5% since January 1.

Over the last 12 months, things haven’t been any better with Aurizon shares slipping a further 9% out of the money.

These results are well behind the S&P/ASX 200 Index (ASX: XJO)’s climb of 25% during this time.

The post Aurizon (ASX:AZJ) share price lifts following sustainability report appeared first on The Motley Fool Australia.

More reading

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• 2 buy-rated ASX dividend shares with attractive yields

The author Zach Bristow has no positions 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 Aurizon Holdings 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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At lunch on Tuesday, the S&P/ASX 200 Index (ASX: XJO) is on course to record a disappointing decline. The benchmark index is currently down 1% to 7,208.2 points.

Here’s what is happening on the ASX 200 today:

Tech shares weigh on ASX 200

One area of the market weighing heavily on the ASX 200 today has been the tech sector. At the time of writing, the shares of Afterpay Ltd (ASX: APT) and the Zip Co Ltd (ASX: Z1P) are both down approximately 5%. This has led to the S&P/ASX All Technology Index dropping 3.1% at the time of writing. Investors have been selling tech shares after a disappointing night of trade on the tech-focused Nasdaq index.

Energy shares rise

It has been a good day for Australian energy producers such as Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO). They are pushing higher today and helping to offset some of the ASX 200’s declines. Investors have been buying energy shares after oil prices rose in response to news that OPEC is planning to stick to gradual supply increases. According to Bloomberg, the WTI crude oil price and the Brent crude oil price both rose over 2% overnight.

Xero given buy rating

The Xero Limited (ASX: XRO) share price may be dropping along with the tech sector today but one leading broker believes it will rebound strongly. This morning the team at Goldman Sachs reiterated their buy rating and $165.00 price target on the cloud accounting platform provider’s shares. The broker notes that updates provided by rival Intuit at its investor day are supportive of its positive view on Xero.

Best and worst ASX 200 performers

The best performer on the ASX 200 on Tuesday has been the Silver Lake Resources Limited (ASX: SLR) share price with a gain of 5%. This follows a rise in the gold price overnight and increased demand for safe haven assets. The worst performer has been the IDP Education Ltd (ASX: IEL) share price with a 6% decline following weakness in the tech sector.

The post ASX 200 (ASX:XJO) midday update: Afterpay & Zip sink, energy shares rise appeared first on The Motley Fool Australia.

More reading

• Why the Zip (ASX:Z1P) share price is down 4% today
• These were the 5 best performing ASX 200 resources in September
• September’s best performing ASX 200 energy shares unmasked
• Top broker tips Xero (ASX:XRO) share price to rise 24%
• Why did the Santos (ASX:STO) share price have such a great month in September?

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 AFTERPAY T FPO, Idp Education Pty Ltd, Xero, and ZIPCOLTD FPO. The Motley Fool Australia owns shares of and has recommended AFTERPAY T FPO 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 Zip Co Ltd (ASX: Z1P) share price is sinking on Tuesday amid a broader rotation out of tech shares, driven by worries about persistent inflation, slowing growth, and looming interest rate hikes.

At the time of writing, Zip shares are down 4.82% to $6.52.

US-tech shares slammed overnight

The tech-heavy Nasdaq Composite tumbled 311 points, or 2.14%, last night to a two and a half month low.

The sharp fall was headlined by tech heavyweights including Apple, Microsoft, Amazon, and Alphabet, all of which fell at least 2%.

Perhaps more relevant to the Zip share price, its US-listed rival Affirm tumbled 8.42% overnight.

“The on-again, off-again nervousness about Federal monetary policy, the disruption among supply chains and the potential for higher taxes (along with other concerns such as inflation risk and higher taxes) have kept market enthusiasm in check,” Oppenheimer Asset Management’s chief investment strategist John Stoltzfus told CNBC.

“Meanwhile rotation and rebalancing efforts, along with some profit taking by skeptics, bears and nervous investors, account for a significant part of market activity on any given day.”

ASX tech shares follow through

ASX tech shares have taken the brunt of the selling with the S&P/ASX Information Technology (INDEXASX: XIJ) down 3.44% by midday and down 6.25% in the last five days.

Headlining the sharp declines is the Afterpay Ltd (ASX: APT) share price, down 5.33% at the time of writing.

So the weak Zip share price might come as no surprise given the weak performance of its sector and peers.

Other heavyweight tech shares including Xero Limited (ASX: XRO), WiseTech Global Ltd (ASX: WTC) and NextDC Ltd (ASX: NXT) are also logging hefty declines, down 2.47%, 2.72% and 3.02% respectively.

Zip share price testing 8-month lows

The $6.50 region has proven to be a supportive neckline for the Zip share price. It’s bounced strongly from there on previous occasions in mid-May and late July.

However, the broader market is looking far from supportive with the S&P/ASX 200 Index (ASX: XJO) rolling over to a 2-month low and a correction well underway for the Nasdaq, down 7% since the beginning of September.

The post Why the Zip (ASX:Z1P) share price is down 4% today appeared first on The Motley Fool Australia.

More reading

• Top broker tips Xero (ASX:XRO) share price to rise 24%
• Why did the Afterpay (ASX:APT) share price have such a bad month in September?
• ASX 200 tech shares set to slide as Nasdaq plunges 2%
• Square slumps 5%. How could this impact the Afterpay (ASX:APT) share price today?
• 5 things to watch on the ASX 200 on Tuesday

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. owns shares of and has recommended AFTERPAY T FPO, WiseTech Global, Xero, and ZIPCOLTD FPO. The Motley Fool Australia owns shares of and has recommended AFTERPAY T FPO, 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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September has come and gone and we are now into the S&P/ASX 200 Index (ASX: XJO)’s 10th month of the year.

And as it turns out, September wasn’t a particularly lucrative month to have been invested in ASX 200 shares. From the start of the month to the end, the ASX 200 ended up going backwards by around 2.6%, falling from 7,534.9 points to 7,332.2 points by the end of the month.

Needless to say, there were many ASX 200 shares that went backwards over this period. But not all of them. So here are the 5 best performing ASX 200 resources shares for the month. As you can see, some of these companies did a whole lot better than the broader markets last month.

The 5 best performing ASX 200 resources in September

Beach Energy Ltd (ASX: BPT)

Beach Energy is our first ASX 200 resources share to check out. This energy share spent September in a fairly volatile mood. But even so, Beach shares had an explosive month, rising from approximately $1.05 at the end of August to close out the month of September at $1.50 a share. That’s a rise of 42.86%.

Since Beach is primarily an oil driller, we can probably put this performance down to the stellar run crude oil prices went on over the month. WTI crude oil was hitting more than US$75 a barrel just last week, helping to boost ASX oil companies like Beach.

Whitehaven Coal Ltd (ASX: WHC)

From oil to coal, and Whitehaven was another ASX 200 beneficiary of a strong resources market over the month just gone.

Whitehaven shares ended August at $2.53 a share. But by the time September was wrapping up last week, this miner’s share price had risen to $3.23. That’s a month-on-month gain of 27.67%.

As with Beach, we can point to the underlying surge in the price of coal as Whitehaven’s source of strength.

Woodside Petroleum Limited (ASX: WPL)

Let’s turn to another ASX 200 oil company, Woodside Petroleum. Woodside was also a beneficiary of higher crude oil pricing over September.

This oil company ended up rising by a very healthy 22.5% from $19.49 a share at the start of the month to $23.88 by the end. Predictions of $US90-a-barrel oil by the end of the year over the month just gone no doubt helped.

Santos Ltd (ASX: STO)

Another ASX 200 energy share to enjoy a good month was Santos. It experienced a nice uptick in investor sentiment thanks to a bullish oil market over the month.

The company started September at $6.05 a share but was trading at $7.17 by the end of the month. That’s a rise of 18.5%.

Alumina Limited (ASX: AWC)

Our final ASX 200 resources share that exceeded expectations in September is the alumina and aluminium producing company Alumina.

Alumina began September trading at $1.78 a share. But by the end of the month, AWC shares had hit $2.10 apiece, a rise of 17.98%.

Once more, we can point to robust commodity markets for the source of investors’ optimism with this company. Like oil and coal, aluminium and alumina had an exceptionally strong month. As my Fool colleague Zach mentioned at the time, the price of aluminium was up around 44% year to date in 2021 by mid-September. No wonder investors were fighting to get a hold of this company’s shares at the same time.

The post These were the 5 best performing ASX 200 resources in September appeared first on The Motley Fool Australia.

More reading

• September’s best performing ASX 200 energy shares unmasked
• Why did the Santos (ASX:STO) share price have such a great month in September?
• These were the best performing ASX hydrogen shares of September
• ASX 200 energy shares on watch as OPEC meeting drives up oil prices
• 5 things to watch on the ASX 200 on Tuesday

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

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The S&P/ASX 200 index (ASX: XJO) has started the week on a downward trend, trading 0.36% lower today at 7251.1 points.

At the same time, the S&P/ASX 200 Health Care index (XHJ) has also slipped 0.36% into the red from the opening of trade.

Aside from this, these ASX biotech shares have been a standout amongst their healthcare peers in September.

Read on to see how each performed last month.

Imugene Limited (ASX: IMU)

Immunotherapy company Imugene had a month full of momentum that propped its share price from 41.5 cents to 48 cents across the month of September.

Investors enjoyed the gains on a backdrop of positive results from the company’s HER-Vaxx immunotherapy candidate.

HER-Vaxx is being investigated in several clinical trials, and in September, positive readouts from a Phase 2 trial showed the label to be potentially effective as a kind of therapy in HER-2 gastric cancer.

Then came further good news on the drug candidate that it had received patent approval in Japan over its method of consumption and use.

Imugene was also added to the S&P/ASX 300 Index last month, indicating the growth of this ASX biotech share in recent times.

In the last year alone, Imguene shares have soared over 720% to date and climbed 16% in September.

Clinuvel Pharmaceuticals Limited (ASX: CUV)

Shares in global biopharma company Clinuvel Pharmaceuticals climbed from $36.50 to $42.86 in September, a 17.5% monthly gain.

Clinuvel shares popped when the company reported its FY21 earnings on 26 August, where they were trading at $29 and change just prior to this.

This momentum carried through the month of September, as investors appeared to have favoured the company’s 43% year on year (YoY) gain in revenue and 63% YoY increase in profit after tax.

Shareholders will also enjoy a 2.5 cents dividend from the company from its FY21 results, which is flat with the year prior.

Clinuvel’s share price performance last month brings its gain for the year to 84%, well ahead of its benchmark indices.

Starpharma Holdings Limited (ASX: SPL)

The Starphama Holdings share price rallied across the month of September from $1.20 to $1.33, at one point closing at a high of $1.475 on 27 September.

The ASX biotech share had a choppy month after investors started to buy it in droves after Starpharma released its FY21 earnings on 26 August.

Whilst the company saw a number of headwinds from its FY21 operations, including a 67% down-step in revenue, investors appeared to look past the company’s financials.

This was backed by the US Patents and Trademarks Office (USPTO) approving a patent for the company’s DEP cabazitaxel label, which covers DEP dendrimer coupled with multiple cabazitaxel drug molecules, with a novel mechanism of action.

This particular hypothesis is being tested in over 40 patients in a Phase 2 clinical trial, for the potential treatment of various cancers.

Despite the positive month, it has been a difficult year for the Starpharma share price, having posted a loss of 22% since January 1, and over 18% this past 12 months.

Collectively, these ASX biotech shares have outperformed their benchmarks in September, and awarded investors with healthy gains.

The post These were the best performing ASX biotech shares in September appeared first on The Motley Fool Australia.

More reading

• Which ASX 300 shares are on the move for the start of the week?
• How did ASX healthcare shares perform in the FY22 first quarter?
• Which ASX 300 shares are the major movers at the end of the week?
• Imugene (ASX:IMU) share price jumps 6% on Japanese patent news
• These 3 ASX Healthcare shares are running hot today

The author Zach Bristow has no positions in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Starpharma Holdings Limited. The Motley Fool Australia has recommended Starpharma Holdings 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 Evolution Mining Ltd (ASX: EVN) share price has started the week on a positive note.

In morning trade, the gold miner’s shares are up 3% to $3.73.

Why is the Evolution share price rising?

Investors have been bidding the Evolution share price higher this morning following a rise in the gold price and the release of an announcement.

In respect to the latter, Evolution has announced a binding agreement with Navarre Minerals Limited (ASX: NML) to sell the Mt Carlton gold mine (including Crush Creek) in Queensland for a total consideration of up to $90 million.

The release notes that the total consideration comprises $40 million payable upon completion, up to $25 million contingent consideration payable on cumulative gold production milestones, and up to $25 million contingent consideration payable in the form of a 5% gold price linked royalty. This is applicable when the average spot gold price is greater than A$2,250 an ounce in a given quarter. The royalty is payable on production from both Mt Carlton and Crush Creek from 1 July 2023 for up to 15 years.

Evolution also revealed that it has agreed to participate in Navarre’s equity raise up to a maximum shareholding of 19.9% (approximately $20 million). The final holding will be determined after its equity raise has concluded.

Evolution’s Executive Chairman, Jake Klein, commented: “Mt Carlton was Evolution’s first development project and has generated excellent returns for shareholders since it was commissioned in 2013. With the Company focused on delivery of growth projects at the cornerstone assets in the portfolio, we believe now is the time to hand Mt Carlton over to an emerging gold producer who can focus on extending the operation’s mine life.”

“The exposure we have retained will enable Evolution shareholders to benefit from the future success of the operation,” he added.

Updated guidance

Evolution has updated its guidance to reflect the sale. Evolution has reduced its FY 2022 production slightly to 670,000 – 725,000 ounces.

Positively, the operation’s higher costs mean that Evolution lowered its all-in sustaining cost (AISC) guidance by A$40 per ounce to A$1,180 – A$1,240 per ounce.

The Evolution share price is down 30% in 2021.

The post Here’s why the Evolution (ASX:EVN) share price is charging higher appeared first on The Motley Fool Australia.

More reading

• 5 things to watch on the ASX 200 on Tuesday
• Why Evolution, Northern Star, Weebit Nano, & Whitehaven Coal are rising
• ASX 200 (ASX:XJO) midday update: Gold miners jump, Pro Medicus wins contract
• Why the Evolution Mining (ASX:EVN) share price is charging higher today
• 5 things to watch on the ASX 200 on Thursday

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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The Creso Pharma Ltd (ASX: CPH) share price is climbing higher on Tuesday following a positive update by the company.

At the time of writing, the medicinal cannabis company’s shares are up 1.97% to 10.7 cents. It’s worth noting that in early trade, its shares touched an intraday high of 12 cents before pulling back.

What did Creso Pharma announce?

In today’s statement, Creso Pharma advised that its wholly-owned Canadian subsidiary, Mernova Medicinal Inc, has secured a number of purchase orders.

A mix of bulk supply orders and ongoing sales with local partners has led the company to lock in more than $800,000 in revenue. The orders are for its indoor grown, hand trimmed, hang dried, cured, artisanal cannabis products.

Mernova’s customers consist of Cannabis NB, Nova Scotia Liquor Corporation, Yukon Liquor Corporation, and Ontario Cannabis Retail Corporation.

Creso Pharma noted it continues to see a strong uptake of its dried flower and pre-roll joint range, Ritual Sticks.

Recently, 14 new strains were developed under its Ritual Greens brand. The company anticipates sales of these products to new and existing partners in the coming months.

Mernova managing director Jack Yu commented on the news possibly driving the Creso Pharma share price:

Recent purchase orders from both provincial partners and bulk suppliers highlight the traction we are generating in the Canadian market. We continue to receive very good customer feedback on our range of dried flower and pre-roll joint products, which is leading to consumer uptake.

Work to introduce new strains, innovative products and grow our footprint in Canada is ongoing and I am confident that Mernova will continue to generate sales growth.

About the Creso Pharma share price

Over the last 12 months, the Creso Pharma share price has gained almost 200%. However, year-to-date the company’s shares have moved the other way, posting a loss of around 40% for shareholders.

Based on today’s price, Creso presides a market capitalisation of roughly $135 million and has approximately 1.2 billion shares outstanding.

The post Creso Pharma (ASX:CPH) share price jumps on new deal appeared first on The Motley Fool Australia.

More reading

• What’s going wrong for ASX cannabis shares lately?
• Creso Pharma (ASX:CPH) share price lifts following two positive updates
• Creso (ASX:CPH) share price edges 4% higher following export deal

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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September was a stellar month for the leading S&P/ASX 200 Index (ASX: XJO) energy shares.

In a month that saw the broader ASX 200 fall by 2.7%, the top-3 ASX 200 energy shares gained a collective 31%.

Beach Energy Ltd (ASX: BPT) led the pack, gaining a whopping 42.9% in September.

Whitehaven Coal Ltd (ASX: WHC), meanwhile, saw its share price surge by 27.7% over the month.

And shares in our number 3 top gainer, Woodside Petroleum Ltd (ASX: WPL), leapt 22.5% in September.

What’s driving the big share price gains?

There are numerous factors that determine a company’s share price. But when it comes to ASX 200 energy shares, the price of the fossil fuels they mine from the earth is critical.

And energy prices have been rocketing.

On the supply side, there’ve been bottlenecks due to pandemic related production issues, storms in the major oil producing Gulf of Mexico, a broad pullback in new exploration over the past 18 months, and a determined OPEC keeping a lid on the cartel members’ own output.

On the demand side, while demand for jet fuel remains well below pre-pandemic times, demand for most ground and sea transport is rebounding quickly.

The result?

Brent crude prices leapt from US$71.59 per barrel to US$78.52 per barrel during the month of September. And they’ve kept edging higher with a barrel of Brent crude currently trading for US$81.26.

Coal is enjoying an even stronger run with demand remaining strong for Australia’s high quality coking coal. That’s the kind that’s used to make steel, as opposed to thermal coal used for power generation.

Coking coal prices have gained some 300% over the past 12 months, reaching record prices of more than US$200 per tonne.

Little wonder then that the leading ASX 200 energy share trounced the index in September.

How have these ASX 200 energy shares been performing in 2021?

We know the above 3 ASX 200 energy shares smashed the benchmark performance in September.

But how have they held up over the course of the calendar year where the ASX 200 has gained 9%?

Not so well for the Beach Energy share price, our September leader, which is down 21% year-to-date.

Our number two ASX 200 energy share Whitehaven Coal, on the other hand, has enjoyed an eye-popping 106% share price gain so far in 2021.

And Woodside Petroleum comes in right about at the benchmark, with shares up 8% year-to-date.

The post September’s best performing ASX 200 energy shares unmasked appeared first on The Motley Fool Australia.

More reading

• ASX 200 energy shares on watch as OPEC meeting drives up oil prices
• 5 things to watch on the ASX 200 on Tuesday
• 5 things to watch on the ASX 200 on Monday
• The Woodside Petroleum (ASX:WPL) share price is a buy – broker
• These were the best performing ASX 200 shares last week

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 Deep Yellow Limited (ASX: DYL) share price struggling to catch a bid even after the company announced a major ore reserve milestone at its Tumas Project.

At the time of writing, Deep Yellow shares are down 4.04% to 95 cents.

Located in Namibia, Deep Yellow has carried out exploration activities at Tumas since 2016. During this time, the company has expanded its resource more than threefold and continues to carry out exploration activities to drive its resource base.

Deep Yellow share price flat despite major ore reserve milestone

Deep Yellow successfully completed resource upgrade drilling at sites across the Tumas Project which led to a 121% increase in its updated ore reserve estimates.

The company was pleased to announce a significant upgrade to its previous ore reserves from its pre-feasibility study (PFS) announced on 10 February.

The PFS defined a probable ore reserve base of 31 million pounds of uranium at 344 parts per million with a life of mine of 11.8 years.

Today’s result has proved sufficient to achieve the company’s key focus area of its definitive feasibility study (DFS) which was to establish sufficient ore reserves to support a life of mine of more than 20 years.

Deep Yellow’s updated ore reserve show 68.4 million pounds of probable ore reserves at 345 parts per million.

Management commentary

Commenting on the major DFS milestone, Deep Yellow managing director John Borshoff said:

A major risk milestone for Tumas has been overcome and we are very pleased with the results, which have confirmed Tumas as a long life of mine operation and demonstrated great potential to develop the Project into a tier-one uranium deposit.

Importantly, significant potential remains to grow Tumas through upgrading remaining Inferred Resources and further exploration of Tumas Palaeochannel, with approximately 40% yet to be fully tested, providing Deep Yellow with exceptional, additional optionality for optimisation of the DFS, which is expected to be completed in the latter part of CY2022.

Deep Yellow share price so far

The Deep Yellow share price boomed between late August and mid-September after uranium spot prices skyrocketed from US$30/lb to a 9-year high of US$50/lb.

After surging more than 100% to an 8-year high of $1.37, Deep Yellow shares have since retraced to around the $1.00 level.

Likewise, uranium prices have also cooled, currently fetching around US$43.5/lb.

The post Deep Yellow (ASX:DYL) share price slides 4% despite major ore reserve milestone appeared first on The Motley Fool Australia.

More reading

• How did ASX uranium shares perform in September?
• A sea of red for ASX uranium shares. Is the run over?
• Are ASX uranium shares fully valued?
• Why the Deep Yellow (ASX:DYL) share price is tanking 18% today
• Why ASX uranium shares are diving double-digits on Monday

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 Xero Limited (ASX: XRO) share price is tumbling on Tuesday along with the rest of the tech sector.

In morning trade, the cloud accounting platform provider’s shares are down 3% to $133.30.

This means the Xero share price is now down over 12% since this time last month.

Is the Xero share price weakness a buying opportunity?

According to the team at Goldman Sachs, the Xero share price could be in the buy zone today.

A note out of the investment bank this morning reveals that its analysts have reiterated their buy rating and $165.00 price target on the company’s shares.

Based on the current Xero share price, this implies potential upside of almost 24% over the next 12 months.

What did the broker say?

Goldman notes that rival Intuit, the company behind the QuickBooks (QBO) platform, has just held its investor day event.

Its analysts highlight that the event provided targets and increased disclosure on a number of items which the broker sees as supportive of its positive view on the Xero share price.

The broker commented: “1. Xero International subscriber momentum stronger than Intuit in FY21, with +412k net adds (ex NA), vs. Intuit +11% growth (i.e. 160k net adds). 2. Intuit ecosystem strategy proof point for Xero, with c.38% of QBO FY21 revenues from Online Services (vs. XRO 7%), noting that 40% of QBO customers now use an ecosystem service or 3rd party app. 3. QBO ARPUs continue to track strongly, supported by mix shift to higher ARPU subs, higher platform revenues and less discounting internationally. 4. Reiterated financial targets for c.30% QBO revenue growth, driven by +10 to +20% Sub/ARPU growth respectively, in line with GSe FY22E Xero Revenue Growth +33%.

Goldman also notes that the recent pullback in the Xero share price has brought it down to lower than average multiples. Particularly in comparison to key peer WiseTech Global Ltd (ASX: WTC).

It concludes: “We re-iterate our Buy on Xero (12m TP of A$165), noting Xero has closed its premium vs. the ASX InfoTech index to 140% vs. 2 year average 179% (12mf EV/Sales), and is -27% cheaper on 12mf EV/Sales vs. key peer WTC. We expect revenue acceleration into FY22 to drive outperformance (+4% vs. VA Consensus) with significant LT opportunities to unlock further value (NZ$76bn TAM).”

The post Top broker tips Xero (ASX:XRO) share price to rise 24% appeared first on The Motley Fool Australia.

More reading

• ASX 200 tech shares set to slide as Nasdaq plunges 2%
• 5 things to watch on the ASX 200 on Tuesday
• Top ASX shares to buy in October 2021
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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 shares of and has recommended WiseTech Global and Xero. The Motley Fool Australia owns shares of and has recommended 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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