The Australian Strategic Materials Ltd (ASX: ASM) share price is firmly in the red during early afternoon trade on Monday.

Australian Strategic shares are now exchanging hands at $10.88 apiece, a 9.41% drop from the open.

Despite this, Australian Strategic has been on a run of fundamental momentum lately that has weighed in on its share price.

Let’s investigate further.

What’s been driving the Australian Strategic Materials share price lately?

Australian Strategic Materials has aspirations to be a top level rare earths and critical metals supplier. As such, it has exposure to these assets already, which have been fetching a premium in the commodities markets lately.

Strengths in the broader commodity markets for metals to which the company has exposure is no doubt a key driving force for the Australian Strategic Materials share price lately.

Aside from this, the company advised it had entered into an exclusive framework with a consortium of South Korean investors. Under the agreement, the consortium has acquired an equity stake in the company.

Funds raised will be used to support the development of the company’s Dubbo project.

This is important because the Dubbo project is the major source of fuel in the company’s growth engine right now.

As a result, the Australian Strategic Materials share price soared to its all time high on the day of this announcement.

Adding to the momentum is that Australian Strategic Materials was added to the S&P/ASX 300 Index (ASX: XKO) after its quarterly rebalance.

The inclusion is no doubt a big move for the company’s shares, which would have met a number of tests.

Australian Strategic Materials share price snapshot

The Australian Strategic Materials share price has climbed 74% this year to date, extending the gain over the last 12 months to 457%.

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

The post The Australian Strategic Materials (ASX:ASM) share price is sliding 7% on Monday appeared first on The Motley Fool Australia.

More reading

• Which ASX shares are the top movers in the ASX 300 today?
• Which ASX 300 shares are making headlines on Thursday?
• Which ASX shares are ending the week as the biggest movers today?
• Here are the top movers on the ASX 300 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. 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 has surged more than 24% in today’s session.

Shares in the uranium explorer have fired to record highs as the uranium sector heats up.

Let’s take a closer look at the Deep Yellow share price.  

What’s propelling the Deep Yellow share price higher?

Deep Yellow has not released any price-sensitive news to explain today’s eccentric price action.

Instead, shares in the uranium explorer have propelled higher thanks to a single catalyst.

The uranium sector as a whole has been on fire recently as spot uranium prices soar to 7-year highs.

Following a prolonged bear market, the uranium spot price has bolted in the past month to hit highs of approximately US$35/lb.  

A major driver has been the aggressive buying of the world’s largest uranium fund, Sprott Physical Uranium Trust.

As a result, the resurgence of spot prices has initiated a buying frenzy for ASX shares in the uranium sector such as Deep Yellow.

More Deep Yellow

Deep Yellow explores uranium mineral properties and has pre-development activities in Namibia and the states and territories of Australia. 

The company has various exploration prospects, in particular its cornerstone Tumas Project in Namibia.

Deep Yellow recently completed drilling at its Tumas 1 East site. The company reported an impressive conversion rate of inferred mineral resources to indicated mineral resources of 102%.

In addition, the company noted that the drilling program could see the project achieve its Life of Mine (LOM) object of 20 years.

Deep Yellow also noted that its robust resource base will help support its upcoming definitive feasibility study.

Snapshot of the Deep Yellow share price

The Deep Yellow share price has been bordering on vertical in the past month.

In addition to today’s stellar price action, shares in the uranium explorer have surged more than 50% since the start of September.

At the time of writing, shares in Deep Yellow are trading just shy of their intra-day and record high of $1.215.

The post Deep Yellow (ASX:DYL) share price surges 24% to record highs appeared first on The Motley Fool Australia.

More reading

• ASX uranium shares are booming double digits across the board on Monday. Here’s why.
• ASX uranium shares are booming: What’s all the hype about?
• Here’s why the Deep Yellow (ASX:DYL) share price has surged 45% in a month
• Guess which sector last week’s top performing ASX shares come from
• ASX uranium shares are booming this week. Here’s why.

Motley Fool contributor Nikhil Gangaram 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 Weekend Sunrise on Sunday to discuss the RBA’s confident and optimistic outlook for the Australian economy, despite lockdown job losses. And where we’ve been spending our money…

The post Job losses, but the RBA remains confident. Scott Phillips on Weekend Sunrise appeared first on The Motley Fool Australia.

More reading

• Sydney Airport share price soars 5% on latest takeover news
• ASX uranium shares are booming double digits across the board on Monday. Here’s why.
• Worried about iron ore prices? This ASX share has prices locked in at A$230/tonne
• CBA (ASX:CBA) share price lower amid crypto defamation lawsuit
• Which ASX shares are the top movers in the ASX 300 today?

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 Sydney Airport Holdings Pty Ltd (ASX: SYD) share price has jumped 5% after the airport company received another takeover bid.

What is the new offer?

Readers may remember that roughly a month ago that a consortium, which included IFM Investors and QSuper, lobbed a revised bid for the company of $8.45 per share, which was an increase from the first offer of $8.25. Those bids were not high enough to get the Sydney Airport boards interested.

That consortium has come back with another bid of $8.75 for the business. This bid is also indicative, conditional and non-binding. The terms and conditions are consistent with the offer last month.

After taking advice and considering all the relevant factors, Sydney Airport said it intends to grant the investment consortium with the opportunity to conduct due diligence on a non-exclusive basis to enable it to put in a binding proposal.

This due diligence is expected to take approximately four weeks after entering into a non-disclosure agreement.

Will Sydney Airport accept this offer?

The company said that if the consortium makes a binding offer at a Sydney Airport share price of $8.75, then as long as the parties enter into an agreement acceptable to Sydney Airport (including the timeframe of the deal), then the boards said they currently intend to unanimously recommend that the takeover is approved by shareholders. However, that’s only if there are no better bids and an independent expert thinks it’s in the best interests of Sydney Airport investors.

The boards noted there is no certainty that there will be a binding offer from the consortium and investors don’t need to do anything at this stage.

Does the Sydney Airport share price fully reflect the offer?

Sydney shares are currently trading at $8.38, close to 5% higher than yesterday.

However, the Sydney Airport share price is still around 4% lower than the indicative offer price of the bid. But, a lot of things still need to happen before a potential takeover process is completed.

Passenger traffic continues to be impacted by COVID-19 effects. In July 2021, there were only 69,000 of domestic passengers (down 75.1% year on year) and 33,000 of international passengers (down 20.9%). That meant the total passengers were down 67.9% to 102,000. In 2021 year to date, total passengers were down 37.4% to 6 million.

The post Sydney Airport share price soars 5% on latest takeover news appeared first on The Motley Fool Australia.

More reading

• Which ASX shares are the top movers in the ASX 300 today?
• ASX 200 (ASX:XJO) midday update: Sydney Airport jumps, Qantas falls
• Sydney Airport (ASX:SYD) share price on watch after new takeover approach
• How have ASX travel shares performed during the August 2021 earnings season?
• Why is the Sydney Airport (ASX:SYD) share price in focus this week?

Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has 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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ASX uranium shares are surging on Monday as spot prices boom to above US$40/lb for the first time in 8-years.

ASX uranium shares deliver double-digit gains across the board

The largest ASX-listed uranium player, Paladin Energy Ltd (ASX: PDN) is up 15% to 98 cents. Paladin owns the “globally significant” Langer Heinrich Mine in Namibia and is currently working towards restarting its operations.

Deep Yellow Limited (ASX: DYL) is another Namibian based player focused on progressing its prospective Tumas project. The Deep Yellow share price is currently 25.65% higher to an 8-year high of $1.20.

Peninsula Energy Ltd (ASX: PEN) made a strategic move to raise $15 million in May to purchase 300,000 pounds of uranium at US$31.35/lb. In addition to holding physical uranium, the company is looking to fast-track its US-based Lance Uranium project into production. At the time of writing, the Peninsula share price is up 25% to 27.5 cents.

Other ASX uranium shares include newly listed explorer 92 Energy Ltd (ASX: 92E) and large cap producer Energy Resources of Australia Limited (ASX: ERA) which are up 31% and 30% respectively.

Why is the uranium sector suddenly booming?

In the world of S&P Global, “A Canadian investment fund almost singlehandedly launched uranium spot prices into orbit with a buying spree that has put the nuclear power industry on alert.”

The fund that S&P Global is referring to is Sprott Inc and its Physical Uranium Trust (SPUT).

SPUT is the world’s largest actively managed uranium fund focused on providing investors with exposure to physical uranium.

According to S&P Global, the fund’s thesis is quite simple, “If they were given funding, they would purchase material out of a spot market that was flooded with excess supply following the 2011 nuclear disaster at Fukushima Daiichi in Japan.”

SPUT’s aggressive move to buy uranium off the spot market has driven a sudden re-rate for both uranium spot prices and ASX uranium shares.

But Sprott says that this is just the beginning.

In an interview with Kitco News, Sprott director Rick Rule said:

Sprott is going to make an application to list that trust on the New York stock exchange, where the overwhelming majority of the volume that [investors] enjoy in their precious metals trusts occurs. If that happens in terms of inflows into the trust, if the material is available to buy in the spot market quote, then you ain’t see nothing yet.

The post ASX uranium shares are booming double digits across the board on Monday. Here’s why. appeared first on The Motley Fool Australia.

More reading

• Which ASX shares are the top movers in the ASX 300 today?
• Two exciting ASX uranium shares get big price upgrade by broker
• Peninsula Energy (ASX:PEN) share price rockets 20% to 2-year high
• ASX uranium shares are booming: What’s all the hype about?
• Peninsula Energy (ASX:PEN) share price jumps to 2-year highs

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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ASX shares in the iron ore sector have sold off sharply in recent months following steel production constraints in China.

Iron ore prices have rapidly deteriorated from May record highs of US$230/t to just US$129/t.

This has, in turn, rattled iron ore majors. BHP Group Ltd (ASX: BHP), Rio Tinto Limited (ASX: RIO) and Fortescue Metals Group Limited (ASX: FMG) share prices plunged 20.9%, 10.5% and 16.3% respectively in the past month.

Lower iron ore prices could impact the profitability of iron ore shares in FY22. But one ASX share has managed to lock in a portion of its production at an impressive A$230/dry metric tonne.

Which ASX share is it?

Fenix Resources Ltd (ASX: FEX) is a small cap iron ore producer with a market capitalisation of approximately $130 million.

The company began producing iron ore in December last year. It announced its maiden shipment of 37,157 wet metric tonne (wmt) in February.

On 22 July Fenix revealed it has entered into iron ore swap arrangements for 50,000 tonne per month for the next 12-month period. From October 2021 to September 2022 the company has secured a fixed price equivalent to $230.30/dmt. That’s US$169.3/dmt at today’s exchange rates.

In the announcement, the company said:

The swap arrangements were executed after the implementation of a Price Protection Policy designed to secure the medium-term future of the Iron Ridge project, whilst maintaining Fenix’s exposure to the iron ore price.

Commenting on the hedge, Fenix managing director Rob Brierley said:

The iron ore swap arrangements were foreshadowed in our … quarterly activities report for the June 2021 period. We are effectively locking in ~45% of our planned production during a 12-month period commencing October 2021, at a fixed price that is sufficient to cover the majority, if not the entirety, of our budgeted cost base.

The post Worried about iron ore prices? This ASX share has prices locked in at A$230/tonne appeared first on The Motley Fool Australia.

More reading

• Fenix Resources (ASX:FEX) share price up 7% on profit and dividend surge

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 Commonwealth Bank of Australia (ASX: CBA) share price is slipping on Monday. This follows Australia’s largest bank being accused of defamation by a Colombian-Australian remittance service that utilises cryptocurrencies.

At the time of writing, the CBA share price is 0.25% lower to $100.84 apiece. The downward movement means shares in CBA have now fallen 4.5% in the past month.

Banks and crypto continue to lock horns

In the latest jousting contest between traditional banks and pro-crypto fintechs, CBA has landed itself in hot water. According to reports, remittance company Colcambios Australia has accused the Aussie bank of defamation.

Colcambios provides low-cost money transfers between Colombia and Australia. To do this, the company exchanges and transfers pesos and Australian dollars using cryptocurrencies.

Allegedly, CBA wrote letters to customers of Colcambios, suggesting that the money in their accounts was from fraudulent activities. This was in addition to the remittance company being framed as scammers, with the letters warning its customer’s safety was at risk.

An example of one such letter, accompanied by the claim filed with the District Court of NSW, reads:

After a thorough review of your concerns raised, we have good reason to believe you have fallen victim to a scam. Scammers often use messaging apps such as WhatsApp to lure students in with the rewards of quick/easy money. Students are asked to receive funds, then on-forward most of the funds to the scammers/another party, the students will keep a commission.

As a result, Colcambios’ director alleges that the claims have impacted its customer’s perception of the company. However, there are always two sides to every story, and CBA has shared its own version. The ensuing legal matter appears to be weighing on the CBA share price today.

According to CBA, it was imparting information that it believed it had a legal duty to share. This is unsurprising, given the mounting pressures for appropriate actions in accordance with anti-money laundering and counter-terrorism legislation.

Additionally, the bank mentioned it had not mentioned Colcambios Australia by name in any of its letters.

CBA share price in perspective

While the CBA share price struggles at its start to the week, the Aussie benchmark index is powering higher.

At the time of writing, the S&P/ASX 200 Index (ASX: XJO) is up 0.28% to 7,427.1 points. Leading the charge upwards are mining and energy shares.

Finally, CBA shareholders might find solace in the share price holding above $100 per share.

The post CBA (ASX:CBA) share price lower amid crypto defamation lawsuit appeared first on The Motley Fool Australia.

More reading

• A look at insider buying among ASX 200 big four bank shares
• These ASX 200 dividend shares are about to dish out $40bn to shareholders
• What’s moving the CBA (ASX:CBA) share price this week
• Why Afterpay, CBA, Omni Bridgeway, & South32 shares tumbled lower today
• ASX 200 sinks, BHP and CBA fall

Motley Fool contributor Mitchell Lawler owns shares of Commonwealth Bank of Australia. 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 higher on Monday, regaining lost ground from last week’s fall.

During early-afternoon trade, the ASX 300 is up 0.17% to 7,422 points. This means that the index is around 2.6% off its record high of 7,625 points reached on 13 August.

Let’s take a look at which ASX companies are the strong performers today.

Liontown Resources Limited (ASX: LTR)

The Liontown Resources share price is on fire again today, adding another 19.47% to $1.35. This means over the past week, the emerging lithium producer’s shares are up almost 32% and, year-to-date, up 289%.

Despite no new news coming out of the company, investors are excited about the battery material sector.

Liontown Resources is focusing on developing its wholly-owned world-class Kathleen Valley Lithium Project. The asset is considered a tier-1 battery metals site with excellent grade and scale in one of Western Australia’s best mining districts.

Paladin Energy Ltd (ASX: PDN)

Another strong mover for the start of the week is the Paladin share price, up 15.44% to 98.7 cents apiece.

The uranium producer hasn’t released any news since its full-year results late last month.

However, in its annual report, Paladin advised that the Langer Heinrich Mine is progressing towards restarting production. In addition, management is engaging with global nuclear energy utilities to secure long-term contracts for the future.

Paladin shares too have risen close to 35% since this time last week. Over the course of the past month, its shares have almost doubled in value.

Sydney Airport (ASX: SYD)

The Sydney Airport share price is pushing higher on Monday, with a 4.69% gain to $8.37.

The airport operator updated the ASX today with a revised conditional and non-binding proposal from the Sydney Aviation Alliance. An offer to acquire 100% of Sydney Airport shares of $8.75 per share has been put forward.

The company intends to grant the consortium due diligence on a non-exclusive basis which is expected to take 4 weeks.

Now, let’s take a look at which ASX 300 companies are heading the other way.

Australian Strategic Materials Ltd (ASX: ASM)

Falling today is the Australian Strategic Minerals share price, down 10.99% to $10.69, with no new market announcements from the company.

Investors have sold off the rare earth elements miner’s shares after they reached an all-time high of $14.00 last month. Since January 2021, its shares have accelerated by more than 69% and 442% in the last year.

Chalice Mining Ltd (ASX: CHN)

Also being weighed down by investors today is the Chalice share price, down 8.15% to $6.59.

The gold explorer saw demand for the yellow metal wane overnight with prices dropping to as low as US$1,785 per ounce. This affected the company’s shares, although the spot price has surged higher in the hours following.

The post Which ASX shares are the top movers in the ASX 300 today? appeared first on The Motley Fool Australia.

More reading

• ASX 200 (ASX:XJO) midday update: Sydney Airport jumps, Qantas falls
• Two exciting ASX uranium shares get big price upgrade by broker
• Sydney Airport (ASX:SYD) share price on watch after new takeover approach
• Which ASX 300 shares are leading the way as the top movers on Friday?
• ASX uranium shares are booming: What’s all the hype about?

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 PointsBet Holdings Ltd (ASX: PBH) share price is under pressure on Monday.

At the time of writing, the sports betting company’s shares are down over 1% to $9.75.

This means the PointsBet share price is now down 14% in the space of a month.

Is the weakness in the PointsBet share price a buying opportunity?

While the pullback in the PointsBet share price over the last few weeks is disappointing for shareholders, it could be a buying opportunity for non-shareholders.

That’s the view of the team at Bell Potter, who earlier this month put a buy rating and $13.75 price target on the company’s shares.

Based on the current PointsBet share price, this implies potential upside of 41% over the next 12 months.

What did the broker say?

According to the note, the broker has changed the analyst covering the company. While this has led to a change in its investment thesis, forecasts, and valuation, it remains very positive.

It commented: “We have transferred analyst coverage of PointsBet Holdings so there is a change in our investment thesis, forecasts and valuation of the company. Overall, however, we remain positive on the company and its outlook. In particular we are attracted by the large opportunity in the sports wagering market in both the US and Canada which combined is estimated to equate to a total addressable market (TAM) of around US$10bn in 2025.”

“We also believe PointsBet has a key point of differentiation in owning its own IT platform which gives it control over its product roadmap and also allows the company to scale quickly. We also see numerous potential catalysts for the share price including securing entry into further states and provinces (e.g. New York) as well as continued M&A activity in the sector,” it added.

Overall, in light of the above, Bell Potter sees a lot of value in the PointsBet share price at the current level.

The post The PointsBet (ASX:PBH) share price is down 14% in a month. Is it a buy? appeared first on The Motley Fool Australia.

More reading

• 3 ASX tech shares to buy
• Top brokers name 3 ASX shares to buy next week
• Leading broker tips PointsBet (ASX:PBH) share price to rise 39%
• 3 quality ASX growth shares analysts rate as buys
• 5 things to watch on the ASX 200 on Wednesday

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 Pointsbet Holdings Ltd. The Motley Fool Australia has recommended Pointsbet Holdings 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 Anson Resources Ltd (ASX: ASN) share price was paused before market open on Friday.

Shares closed on Thursday at 11 cents per share.

The pause came at the request of the ASX resource and battery metals explorer. It remains in effect until the company releases a price sensitive announcement or the commencement of trading tomorrow — whichever comes first.

Why the trading halt?

The Anson Resources share price remains frozen at time of writing awaiting the company’s announcement regarding a capital raising.

Specific details of the raising have yet to be released.

However, on the last day of trading before the pause (Thursday 9 September), shares closed up 10.1%, having been up more than 19% in intraday trading.

That came after Anson released promising results from its latest battery test work.

As my Foolish colleague, Brooke Cooper, wrote on the day, “The test work, completed by Novonix Ltd (ASX: NVX), found lithium products from Anson’s Paradox Brine Project performed well in lithium-ion battery test cells.”

The results from the testing indicated Anson’s products suffered less capacity losses during ultra-high precision chargers testing. That could lead to longer life batteries, a critical goal to combat range anxiety as electric vehicle (EV) production ramps up across the globe.

Anson’s CEO Bruce Richardson commented on the test results, saying:

The purity of the Anson product provides it with a performance advantage over existing commercial products which is expected to attract lithium-ion producers that are aiming to provide a high-performance product.

While we’ll need to await Anson’s official announcement, it appears the company may be raising capital to position itself for potential growth in the booming lithium-ion market.

Anson Resources share price snapshot

The Anson Resources share price has been as stand-out performer in 2021, up 279%. By comparison the All Ordinaries Index (ASX: XAO) is up 11% year-to-date.

Over the past month, Anson’s shares are down 11%.

The post Why is the Anson Resources (ASX:ASN) share price halted? appeared first on The Motley Fool Australia.

More reading

• Anson (ASX:ASN) share price leaps 19% on Novonix test results

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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