The Rhythm Biosciences Ltd (ASX: RHY) share price is pushing higher on Tuesday.

In afternoon trade, the predictive diagnostics company’s shares are up 8.5% to $1.14.

Why is the Rhythm Biosciences share price racing higher?

Investors have been bidding the Rhythm Biosciences share price higher today after the release of a positive update.

According to the release, the Therapeutic Goods Administration (TGA) has formally accepted Rhythm’s manufacturers evidence documentation. This documentation is required for the approval of its ColoSTAT product in Australia and completes the first step for regulatory approval in the country.

ColoSTAT is aimed to be a globally marketed, low-cost, simple blood test for the early detection of colorectal cancer for mass-market screening.

What now?

With step one of the TGA submission process complete, the company will now push ahead with the filing of an Australian Register of Therapeutic Goods (ARTG) listing.

The ARTG listing will contain further comprehensive documentation. This includes the product technical files, clinical evaluation reports, and similar documentation.

Rhythm’s CEO, Glenn Gilbert, commented: “Progress for regulatory approval in Australia has commenced and it is pleasing to have received the TGA’s acceptance of our Manufacturers Evidence.”

“Our expectation remains that patient recruitment for the clinical trial (Study 7) is to be completed in the near term. Again, the application for a CE Mark for European approval is independent of both the clinical trial being completed and TGA application. CE Mark filing remains on track for late this calendar year,” he added.

Investors appear excited that this product could soon be generating revenue and saving lives. The company estimates that over 850,000 people die from colorectal cancer each year. It also notes that there is a market opportunity of more than $6.5 billion per year in the US, EU, and Australian markets.

The Rhythm Biosciences share price is up 24% over the last 30 days.

The post Why the Rhythm Biosciences (ASX:RHY) share price is jumping 8% today appeared first on The Motley Fool Australia.

More reading

• Why the Rhythm Biosciences (ASX:RHY) share price is flying higher today

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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Motley Fool Australia Chief Investment Officer Scott Phillips joined Nine’s Late News on Monday night to discuss the surge in the Pilbara Minerals Ltd (ASX: PLS) share price, the newly sweetened takeover offer that’s pushing the Sydney Airport Holdings Pty Ltd (ASX: SYD) share price higher, and the ACCC quashing a proposed alliance between Qantas Airways Limited (ASX: QAN) and Japan Airlines.

The post Lithium surge, Sydney Airport takeover, ACCC torches Qantas deal. Scott Phillips on Nine’s Late News appeared first on The Motley Fool Australia.

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• ASX 200 up, Sydney Airport flies, Nuix rises
• Here are the 3 heaviest trading ASX 200 shares on Monday
• Here are the top 10 ASX shares today
• The Aristocrat (ASX:ALL) share price has hit 10 new record highs in the past month

Motley Fool contributor Scott Phillips 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 Kina Securities Ltd (ASX: KSL) share price has slipped 4% into the red during afternoon trade on Tuesday. The company’s shares are now trading at 86 cents each, down 4.44%.

Kina shares are on the move as the company advised an acquisition it was seeking in Papua New Guinea (PNG) was blocked by PNG authorities.

Let’s investigate further.

A quick rundown on Kina Securities

Kina Securities is in the financial services business and has particular interests in commercial banking. These functions include personal and commercial lending, money market functions and corporate advisory.

The group has two reportable segments: Kina Bank and Kina Wealth Management.

At the time of writing, Kina has a market capitalisation of $246 million.

What did Kina Securities announce?

In a potential blow to the Kina share price, the company advised that the PNG Independent Consumer and Competition Commission (ICCC) delivered its final decision regarding the company’s play to acquire Westpac Bank-PNG-Limited.

Kina’s proposal was to buy 89.91% of the shares in Westpac PNG, effectively expanding its footprint in our northern neighbour’s market.

However, the PNG ICCC determined it is “not satisfied with the acquisition” on several grounds and has vetoed the deal.

Specifically, according to the company’s announcement, the Commission is not satisfied that the acquisition:

• will “substantially” lessen the competition in the PNG markets; and
• will result (or will be likely to result) in “such a benefit to the public that it should be authorised”.

As a result, Kina is “assessing the implications” of the ICCC’s decision not to grant authorisation for the transaction to go ahead.

Investors can expect more news to come on this event, as Kina will update the market when further information surfaces.

Until then, the material impact of the ICCC’s decision on the company’s operations, if any, is yet to be identified.

Kina Securities share price snapshot

The Kina Securities share price has struggled this year to date, posting a loss of 4.4% since January 1.

Despite this, Kina shares are around 7% in the green over the last 12 months.

Both of these results have lagged the S&P/ASX 200 Index (ASX: XJO)’s return of around 25% over the past year.

The post Kina Securities (ASX:KSL) share price slides 4% amid acquisition blow appeared first on The Motley Fool Australia.

More reading

• Why the Rhythm Biosciences (ASX:RHY) share price is jumping 8% today
• Lithium surge, Sydney Airport takeover, ACCC torches Qantas deal. Scott Phillips on Nine’s Late News
• How have these ASX 200 iron ore shares performed since reporting results?
• Why the American Pacific Borates (ASX:ABR) share price is outperforming today
• Why the Origin Energy (ASX:ORG) share price is climbing on Tuesday

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 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) iron ore giants all reported their financial results for 2021 (FY21) last month.

How their share prices have moved since reporting is important not just to investors in the big miners. It also impacts anyone investing in an ASX 200-tracking exchange-traded fund (ETF).

That’s because, when taken together, BHP Group Ltd (ASX: BHP), Rio Tinto Limited (ASX: RIO), and Fortescue Metals Group Limited (ASX: FMG) have enough firepower to help or hinder the broader index.

Below we look at a brief recap of the key results these 3 ASX 200 iron ore titans reported, as well as how they’ve been performing since.

One thing to keep in mind when looking at their performance is the sliding price of iron ore. On 17 August iron ore was trading for US$167 per tonne, according to data from Markets Insider. Today that same tonne is trading for US$129. That’s 23% lower in less than 1 month.

Go back just a few weeks further, to 30 July, and iron ore was trading at US$212 per tonne.

With that said…

How has BHP performed since reporting results?

BHP reported its FY21 results after market close on 17 August.

The core results included a 69% increase in underlying earnings before interest, taxes, depreciation, and amortisation (EBITDA) to US$37.4 billion.

The miner’s underlying attributable profit also leapt by 88% to US$17.1 billion, while net operating cash flow increased by 73% to US$27.2 billion.

The strong results enabled BHP to declare a final dividend of US$2.00 per share, fully franked. The full-year dividend of US$3.01 per share represented a 151% increase on FY20.

BHP also reported on its pending merger deal with Woodside Petroleum Limited (ASX: WPL).

ASX 200 investors would have had this data on hand at market open on 18 August. Despite the strong results, the BHP share price fell 7% on the day.

Though shares are edging higher today, they’re currently down 19% since BHP released its FY21 results.

And what about Fortescue?

Fortescue reported its FY21 results on 30 August.

The key metrics included a 74% leap in total revenue for the ASX 200 miner. Revenues hit US$22.3 billion, up from US$12.8 billion in FY20.

EBITDA also surged by 96%, to US$16.4 billion, compared to US$8.4 billion the prior year. This helped drive a 117% increase in net profit after tax (NPAT) to US$10.3 billion, up from US$4.7 billion in FY20.

Fortescue boosted its final dividend to $2.11 per share. The full-year dividend of $3.58 per share was up 103% year-on-year.

ASX 200 investors were clearly buoyed by the results, which saw the Fortescue share price gain 7% on the day.

But things have largely gone the other direction since then. Fortescue shares are down 1.79% in intraday trading today, and down 15% since the miner released its results.

How has ASX 200 miner Rio performed?

Unlike its 2 major ASX 200 rivals above, Rio released half-year results, not full year.

The results for the 6 months ending 30 June were released after market close on 28 July.

On the back of surging iron ore prices (which as mentioned above have since been in retreat), Rio reported a 71% increase in consolidated sales revenue from the prior corresponding half year, up to US$33.1 billion.

The miner’s free cash flow increased by an impressive 262% over the corresponding period, to US$10.2 billion.

All that cash saw Rio declare an interim dividend of $3.76 per share, fully franked, plus a fully franked special dividend of US$1.85 per share.

ASX 200 investors would have had time to pore over these results before market open on 29 July. And they appear to have liked what they read, sending the Rio share price up 1.5% on the day.

As with the other ASX 200 mining titans, Rio’s share price has come under pressure since then. Shares are down 19% since reporting its half-year results.

The post How have these ASX 200 iron ore shares performed since reporting results? appeared first on The Motley Fool Australia.

More reading

• BHP (ASX:BHP) share price lifts following climate action plan release
• Fortescue (ASX:FMG) share price struggles amid new production curbs in China
• 5 things to watch on the ASX 200 on Tuesday
• Rio Tinto (ASX:RIO) share price grounded as US$2.4b lithium mine faces local opposition
• Fortescue (ASX:FMG) shares bounce off 9-month low as iron ore sell-off continues

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 American Pacific Borates Ltd (ASX: ABR) share price is pushing higher today following two key appointments by the company.

At the time of writing, the mineral exploration company’s shares are swapping hands for $1.735, up 3.58%.

American Pacific Borates strengthens its senior leadership team

According to its announcement, American Pacific Borates advised it has appointed Tyson Hall as its chief operating officer.

Hall’s role will initially focus on managing value engineering activities to support the development of the Fort Cady Integrated Boron Facility. However, this will be expanded to managing construction and operations of the plant and becoming the link between operations and the specialty boron and advanced materials’ business. 

Hall brings substantial operating experience to the company having previously been responsible for the financial side of a business unit within Pilgrim’s Pride Corporation.

He also brings broad experience in manufacturing and specialty chemicals. Hall holds a Bachelor of Science degree in Chemical Engineering and a Master of Business Administration from the University of Arkansas.

In addition, Chance Pipitone has been selected as head of corporate development and investor relations.

Pipitone’s key responsibilities will include leading the corporate finance and strategy function, managing investor relations, and strategic planning activities.

During his past years, Pipitone served as a portfolio manager and senior investment professional at a number of firms. These include Luminus Management, Salient Partners, and Brookfield Asset Management (formerly Center Coast Capital).

Pipitone holds a Bachelor of Science degree from The Wharton School, University of Pennsylvania.

American Pacific Borates stated that both positions will be effective from the second half of September.

About the American Pacific Borates share price

Over the past 12 months, American Pacific Borates shares have gained around 118% and, year-to-date, are up 15%. The company’s share price reached an all-time high of $2.54 in late April.

American Pacific Borates has a market capitalisation of roughly $676 million, with approximately 387 million shares on issue.

The post Why the American Pacific Borates (ASX:ABR) share price is outperforming today appeared first on The Motley Fool Australia.

More reading

• American Pacific Borates (ASX:ABR) share price leaps 18% on lithium update

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 Origin Energy Ltd (ASX: ORG) share price is in the green despite no news having been released by the company.

However, the S&P/ASX 200 Energy Index (ASX: XEJ) is leading the market today, having gained a whopping 3.84%.

The energy sector’s gains are particularly impressive given the S&P/ASX 200 Index (ASX: XJO) is currently 0.24% lower than its previous close, having fallen 16.4 points today.

At the time of writing, the Origin Energy share price is $4.55, 2.48% higher than its previous close.

Let’s take a closer look at what might be sending the energy producer and retailer’s share price higher on Tuesday.

Origin Energy’s having a great day on the ASX

The Origin Energy share price is taking off today, as are those of nearly all participants of the ASX 200 energy sector.

Right now, the index is being led by the Beach Energy Ltd (ASX: BPT) share price, which has gained 6.7% today.

The share prices of Woodside Petroleum Limited (ASX: WPL), Oil Search Ltd (ASX: OSH), and Santos Ltd (ASX: STO) are all gaining too. They’re up 5.9%, 4.5%, and 4% respectively.

The Origin Energy share price’s 2.4% gain sees it comfortably positioned as the sector’s fifth-best performer on Tuesday.

The ASX 200 energy sector’s sea of green might be being driven by another sea of green – that of energy commodities.

Right now, the price of West Texas Intermediate oil is up 0.6%. At the same time, that of Brent Crude oil is up 0.5%.

The price of natural gas is also boosting higher today, having gained 0.3% at the time of writing.

Origin Energy share price snapshot

Today’s gains haven’t quite been enough to drag Origin Energy’s stock out of its slump.

Right now, the company’s share price is 5% lower than it was at the start of 2021. It is also 3% lower than it was this time last year.

The post Why the Origin Energy (ASX:ORG) share price is climbing on Tuesday appeared first on The Motley Fool Australia.

More reading

• Why is the ASX share market down today?
• These ASX 200 shares are trading ex-dividend today
• These ASX 200 dividend shares slashed their payouts in August
• How does the AGL (ASX:AGL) earnings result compare to Origin?
• Here are the top 10 ASX 200 shares today

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

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The Splitit Payments Ltd (ASX: SPT) share price has struggled over the last few weeks and has lagged the major benchmark indices.

Whereas the S&P/ASX 200 Index (ASX: XJO) has slipped 3% into the red over the last month, shares in the payments services company have fallen 32% in the same time.

Let’s dive in a little deeper to understand why.

What’s been in front of the Splitit share price lately?

One interesting takeout for investors is that there appears to be a peculiar mix in the dynamics between the company’s fundamental performance and the performance of its share price.

For instance, Splitit recognised record half-year results in its most recent earnings report last month. Merchant sales volume (MSV) grew 94% year on year. At the same time, gross revenue increased by about 80% to US$5.5 million.

Keep in mind that Splitit already recognised a 300% increase in revenue in its FY20 earnings report earlier in the year.

The total amount of shopping users also jumped to 566,000 in the six months to June. That’s around 134,000 new shoppers added to its user base in half a year. That’s not to mention a fairly robust balance sheet with US$66 million in cash and another US$150 million liquidity available.

Yet, despite these apparent strong points in revenue growth, the market has seen things differently, perhaps chasing companies turning and/or growing profits instead.

For instance, the Splitit share price was scalded in February after the company released its FY20 earnings. Similarly, it was again on the back of its half-year results. Both times its net losses widened year over year despite significant revenue growth.

Back in February, it recognised a bigger loss than the year prior of around US$4 million. However, in August, the difference was US$9,794,000 – a 109% increase on the year prior.

They say history doesn’t repeat itself – but it rhymes. Certainly, we can see the market has reacted to Splitit’s loss for each period in a similar rhyming fashion. Each time its share price has been punished.

And, finally, let’s not forget the S&P/ASX All Technology Index is also down 1.3% over the last month, indicating broader weakness across the ASX technology sector.

The sum of these factors appears to be weighing down the Splitit share price over the last month.

Splitit share price snapshot

The Splitit Payments share price has struggled this year to date, posting a loss of 70% since January 1. This extends the loss over the last 12 months to 74%.

Both of these results have lagged the broad index’s return of around 25% over the past year.

The post Why the Splitit (ASX:SPT) share price has tumbled 32% in a month appeared first on The Motley Fool Australia.

More reading

• How have ASX BNPL shares performed during the August 2021 earnings season?
• Splitit (ASX:SPT) share slips on record half-year result and CEO transition
• Why did the Splitit (ASX:SPT) share price just hit its 52-week low?

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 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 BHP Group Ltd (ASX: BHP) share price is in the green this afternoon following the release of the company’s climate transition action plan.

The plan has been released alongside notice of BHP’s annual general meeting (AGM). The AGM will see shareholders voting on a movement that could see the iron ore giant re-evaluating its links with lobbyists advocating against climate targets. BHP’s upcoming AGM is scheduled for 9 November.

Right now, the BHP share price is $41.76, 0.68% higher than its previous close.

Let’s take a closer look at the news driving the BHP share price on Tuesday.

BHP’s climate transition action plan

The BHP share price is gaining following the release of the company’s climate action plan.

BHP’s climate action plan for FY21 outlines the work the company has done towards becoming carbon neutral. It also outlines its plan to reduce its environmental impact in FY22 and into the future.

In FY21, BHP’s assets created 16.2 million tons of carbon dioxide equivalent of scope 1 and scope 2 emissions. That’s around 2% higher than those of FY20.  

Scope 1 emissions come directly from a company’s business, whereas scope 2 are those created to make the electricity or energy it uses.

Additionally, the company’s scope 3 emissions for FY21 – those created through its value chain – totalled 402.5 million tons of carbon dioxide equivalent.

Of those, 300.5 million tonnes came from steelmaking. BHP’s petroleum business saw 38.1 million tons of scope 3 carbon dioxide equivalent created in FY21.

The company reiterated its belief that decarbonising the steelmaking industry will likely be a slow and fragmented effort. BHP said some challenges steelmakers will face when trying to lessen their carbon footprint will be finding lower carbon raw material feedstock, lack of policy support, and demand for affordable steel.

However, BHP believes its products are necessities in the race to decarbonate and it plans to minimise its carbon emissions while continuing to produce needed commodities.

Short-term goals

The company’s short-term goals include maintaining its operational greenhouse gas (GHG) emissions at or below its FY17 levels in FY22, while still growing its business.

The company also wants to integrate one or more Paris-aligned scenarios – including the 1.5°C pathway – into its strategy beginning in FY22.

Of course, it also plans to demerge its oil and gas assets in FY22, with Woodside Petroleum Limited (ASX: WPL) set to take over the business. The BHP share price fell 7% on the back of its demerger plan, announced in August.

Medium-term goals

In the medium term, BHP plans to reduce its operational GHG emissions by at least 30% of FY20 levels by FY30. To do so, it will support industries developing technology and pathways to reduce emissions produced in steelmaking and reduce the emissions produced from shipping BHP’s products.

BHP is on track to power its Nickel West Kwinana Refinery, Mt Keith and Leinster operations, Queensland Coal mines, and its Chilean copper assets with renewable power by the middle of the decade.

Long-term goals

Then, in the long term, BHP wants to reach net-zero operational GHG emissions by 2050.

However, it recognises the challenges faced by its customers’ processing of its products. BHP will continue to partner with its customers to accelerate their transition to carbon-neutral steelmaking.

The company believes the global steelmaking industry might reach net-zero emissions by 2050.

It will also work to make its future-facing commodities, such as copper, nickel, and potash carbon neutral.

BHP share price snapshot

It has been a tough few weeks on the ASX for the BHP share price, which is down 20% in the past month.

BHP shares are also down by around 3% year to date. However, they have gained around 12% over the past 12 months.

The post BHP (ASX:BHP) share price lifts following climate action plan release appeared first on The Motley Fool Australia.

More reading

• 5 things to watch on the ASX 200 on Tuesday
• BHP (ASX:BHP) share price lifts despite US mine doubts
• How have ASX resources shares performed during the August 2021 earnings season?
• September is not being kind to the BHP (ASX:BHP) share price
• Brokers name 3 ASX shares to buy today

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

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The AGL Energy Limited (ASX: AGL) share price is having an exceptional day on the ASX boards so far this Tuesday. At the time of writing, the AGL share price is up a very healthy 5.11% to $6.38 a share. This would be a welcome turnaround for investors, who have had to watch as AGL sunk to multi-decade lows over the past few weeks and months.

Indeed, it was only yesterday that AGL sunk to yet another low of $5.97 a share. To put that in context, the last time the AGL share price had a ‘5’ in front of it, it was way back in 2002.

So there would be more than a few shareholders who would be very pleased with what today’s market has thrown up.

The AGL share price, although embattled for a few years now, has been struggling especially hard in 2021 so far. Even after today’s upward move, the company is still down a nasty 47.5% year to date. Over the past 12 months, AGL shares have lost close to 57% of their value.

A series of earnings downgrades, a disappointing FY21 earnings report, sluggish national electricity market, and a poorly-received demerger plan are probably all contributing factors here.

So why are AGL shares shooting the roof today then?

Why is the AGL share price up 5% this Tuesday?

Well, we did get some news out of the company yesterday that may be having some spillover effects today. As we reported at the time, AGL announced that it had signed a new sales arrangement for gas with the ASX energy company Cooper Energy Ltd. (ASX: COE).

Cooper is now contracted to sell “all developed and uncontracted volumes” of gas in its Otway Basin project to AGL at a price range of $6 to $8 per gigajoule. The contract will be in place until December 2030, and will result in the supply of 6 petajoules worth of gas supply per year.

Yesterday, this news seemed to do nothing for the AGL share price. But today, it’s a new story.

It’s possible that some investors have changed their minds on the news of this deal.

It’s also possible that the lows we saw yesterday were finally enough for some value investors to step in and pick up some shares for multi-decade low pricing.

Whatever the reason, today is certainly a happier day for AGL investors than what they would have become used to in recent times.

At the current AGL share price of $6.35, the company has a market capitalisation of $3.78 billion, and a dividend yield of 10.22%.

The post Here’s why the AGL (ASX:AGL) share price is leaping 5% appeared first on The Motley Fool Australia.

More reading

• AGL (ASX:AGL) share price slumps despite new gas agreement
• How have ASX energy shares performed during the August 2021 earnings season?
• September hasn’t been a great month so far for the AGL (ASX:AGL) share price
• AGL (ASX:AGL) share price falls amid fresh climate credentials pressure
• The AGL (ASX:AGL) share price is down 16% in a month. Here’s why

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 300 Index (ASX: XKO) is edging lower today, erasing yesterday’s gains.

At the time of writing, the ASX 300 is down 0.13% to 7,418 points.

Here are some of the top movers on the ASX 300 today.

Beach Energy Ltd (ASX: BPT)

The Beach Energy share price is on the move, up 6.73% to $1.11 despite no new company announcements.

The energy producer has seen its shares surges today as the spot price of oil strongly rebounded. The higher commodity price for West Texas Intermediate (WTI) translates to bumper revenues for the company.

Woodside Petroleum Ltd (ASX: WPL)

Following suit is the Woodside share price, up 6.02% to $20.77.

The oil and gas company is also benefitting from the increase in oil prices. It’s worth noting that a few days ago, Citi reduced its outlook on Woodside shares by 3.5% to $20.80. This is in line with the company’s share price — today.

Liontown Resources Ltd (ASX: LTR)

Making headlines again is the Liontown Resource share price, up 5.52% to $1.435. Although during late morning trade, its shares hit a record high of $1.45 apiece.

The emerging lithium producer is set to separate its non-lithium assets in the coming weeks. This will allow Liontown Resources to focus on its wholly-owned world-class Kathleen Valley Lithium Project.

And the biggest losers?

Brambles Ltd (ASX: BXB)

Heading south is the Brambles share price, down a sizeable 10.77% to $10.94.

The logistics solutions company released its investor day presentation yesterday, disappointing investor expectations for FY22.

Management advised of underlying profit growth of between 1% to 2% for the current financial year. While this is a weak result, the company noted that FY22 is a year of investment. It expects high single-digit growth between FY23 to FY25.

Australian Strategic Materials Ltd (ASX: ASM)

Also in decline is the Australian Strategic Materials share price, down 5.84% to $10.31.

The rare earth metals company hasn’t released any market-sensitive news to the ASX since its quarterly report in late July. However, its shares have tumbled from reaching an all-time high of $14.00 last month.

Since this time last year, Australian Strategic Materials shares have gained 428%, with year-to-date up 64%.

The post Which ASX 300 shares are the biggest winners and losers today? appeared first on The Motley Fool Australia.

More reading

• ASX 200 energy shares are leading the market on Tuesday
• Brambles (ASX:BXB) share price slides 11% after investor day presentation
• ASX 200 (ASX:XJO) midday update: Westpac asset sale blocked, Zip crypto update
• 5 things to watch on the ASX 200 on Tuesday
• Why the Woodside (ASX:WPL) share price is gaining today

Motley Fool contributor Aaron Teboneras owns shares of Woodside Petroleum Ltd. 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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