The S&P/ASX 200 Index (ASX: XJO) has finished this Monday’s trading slightly in the green.The ASX 200 closed up 0.37% to 7,788.6 points. So let’s dig a little deeper into the ASX 200 shares that topped the trading volume charts today. As you’ll soon see, today it was all about ASX materials shares:

ASX 200 miners top trading volumes on Monday

Pilbara Minerals Ltd (ASX: PLS)

ASX 200 lithium producer Pilbara Minerals is often at the top of this list. But, today, it has to contend with the number 3 spot. This Monday has seen a hefty 18.37 million Pilbara shares bought and sold.

Since there are no major news or developments out of the company today, we can safely assume this high trading volume is the result of Pilbara’s sizeable share price jump today. Pilbara shares finished up a healthy 6.28% to $2.20 a share. As my Fool colleague Kerry covered earlier today, this seems to be the result of a sector-wide appetite for ASX lithium shares.

Alumina Limited (ASX: AWC)

Aluminium and alumina producer Alumina Limited is our next ASX 200 share to check out today. This Monday has seen a substantial 20.86 million Alumina shares swap hands.

Again, we didn’t seen any major news out of this company. However, Alumina is another ASX share that rose swiftly today, closing up 5.67% to $1.77 a share. It’s probably this lift in valuation that is behind so many shares flying around the markets.

South32 Ltd (ASX: S32)

Diversified ASX miner South32 is our most traded ASX 200 share today, with a massive 31.87 million shares changing owners. Like the above shares, South32 has also enjoyed a massive revaluation from investors this Monday.

At close of trade, the South32 share price finished up a robust 6.21% to $3.08 a share. That pretty much hits the company’s 52-week high of $3.09. It’s probably the result of this big move upward that we saw so many S32 shares traded today.

The post ASX 200 miners dominate most traded shares on Monday appeared first on The Motley Fool Australia.

More reading

• ASX 200 rises, Altium sinks, Fortescue climbs
• Why the Pilbara Minerals (ASX:PLS) share price is surging 7% today
• Why ASX lithium shares are having a bumper start to the week
• The materials sector is leading ASX 200 shares today
• Australia’s rising delta recession risk could hit these ASX 200 shares badly

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 Insurance Australia Group Ltd (ASX: IAG) share price has not had a great start to the trading week this Monday. At market close, IAG shares finished down 0.74% to $5.34 a share.

Zooming out a little, and the picture improves somewhat for IAG shareholders. Over 2021 so far, IAG shares are up 13.14%. That includes a 6.6% gain over just the past 3 months. In contrast, the S&P/ASX 200 Index (ASX: XJO) is ‘only’ up around 12.27% year to date so far. As well as up ‘just’ 4.8% over the past 3 months. So IAG has been a market-beating investment across both the past 3 months and in 2021 so far.

The more attuned ASX investors out there might point to IAG’s recent earnings report as a potential catalyst. IAG’s 2021 financial year (FY21) earnings were delivered earlier this month .

On 11 August, IAG reported that its cash earnings were up a substantial 170% to $747 million, with a 100% boost to its final dividend to 20 cents a share. However, those pleasing metrics had to be digested with IAG’s $427 million net loss after tax.

Even though the company was bullish on its FY2022 prospects in this earnings report, with management stating “IAG’s underlying performance will continue to improve,” initially investors weren’t entirely on board. As we reported at the time, the IAG share price dropped after the release of these earnings.

Saying that, IAG shares have risen around 1.33% between the day before these earnings were released and today. But they are certainly not enough to explain the company’s performance over the past 3 months.

New executive gives IAG share price a boost

Another development seems to have supported IAG over this period though. Back on 20 July IAG announced that Tim Plant had been appointed as chief insurance and strategy officer, a newly created role. Plant is a former CEO of Zurich Insurance Group.

Here’s what IAG managing director and CEO Nick Hawkins said of the appointment at the time:

Tim brings a considerable depth of underwriting and insurance experience, as well as a deep understanding of customer needs through his leadership roles in the Australian and New Zealand general insurance markets. Tim’s experience will further bolster IAG’s leadership and I look forward to welcoming Tim to the team.

Since this news became public, the IAG share price has rallied more than 10.5%. So it seems this move has been at least somewhat accretive to the IAG share price.

At the current IAG share price, the company has a market capitalisation of $13.26 billion and a dividend yield of 2.62%.

The post Here’s why the IAG (ASX:IAG) share price is up 6% in the last 3 months appeared first on The Motley Fool Australia.

More reading

• If you invested $1,000 in IAG (ASX:IAG) shares a decade ago, here’s what it would be worth now
• 10 ASX shares we’re overweight in right now: fund
• How does the IAG (ASX:IAG) earnings result compare to Suncorp?
• IAG (ASX:IAG) share price falls as competitor raises $200 million
• How does the IAG (ASX:IAG) dividend compare to its sector?

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

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The Oil Search Ltd (ASX: OSH) share price has edged lower in the days following the company’s FY21 half-year scorecard. The energy producer recorded a solid operational performance as well as strengthened market conditions.

Meanwhile, Santos Ltd (ASX: STO) reported its FY21 earnings on 17 August, also announcing a robust result. However, its share price had a few mixed trading days based on fluctuations in the spot price of oil.

Comparing the financial figures of the two companies can give investors a clearer picture of how the industry is travelling.

Let’s take a look at how the Oil Search earnings result stacks up against Santos’ numbers.

A recap on the Oil Search earnings result

Here’s a summary of the financial details that Oil Search posted for the 6 months ending 30 June 2021.

• Total sales revenue of US$667.7 million, up 7% on the prior corresponding period;
• Earnings before interest, tax, depreciation and amortisation and exploration (EBITDAX) of US$488.8 million, down 8%;
• Net profit after tax (NPAT) of US$139 million (H1 FY20 net loss after tax of US$266.2 million), and
• Interim dividend declared of US3.3 cents per share (no dividend declared in H1 FY20).

The sound result benefited from a price recovery in oil and liquified natural gas (LNG) predominately in Asia. Higher realised prices coupled with management’s focus on reducing costs led to a significant improvement in the company’s financial health.

How does this compare to Santos?

Santos revealed its own FY21 earnings, highlighting record production of 47.3 mmboe (million barrels of oil equivalent). Let’s see how it stacked up against Oil Search’s result.

• Total sales revenue of US$2,040 million, up 22% on the prior corresponding period;
• Earnings before interest, tax, depreciation and amortisation and exploration (EBITDAX) of US$1,231 million, up 24%;
• Net profit after tax of US$354 million, up 222%, and
• Interim dividend declared of US5.5 cents per share, up 162%.

Santos turned its fortunes around with higher oil prices realised in the first half coupled with record sales volumes of 53.8 mmboe.

In addition, higher oil prices were realised but were offset by lower LNG (liquified natural gas) prices due to long-term, fixed-price offtake contracts.

Comparing Oil Search’s earnings with those of its rival, there are somewhat softer similarities in terms of revenue growth. Although when it comes to EBITAX and NPAT, Santos is far ahead of Oil Search in both numbers and percentage increases.

Oil Search share price snapshot

It has been a modest 12 months for Oil Search shares, posting a gain of almost 20% over the period. Year to date, the company’s share price is relatively flat, up 1% though.

Oil Search commands a market capitalisation of roughly $7.8 billion, with more than 2 billion shares on its books.

The post How does the Oil Search (ASX:OSH) earnings result compare to Santos (ASX:STO)? appeared first on The Motley Fool Australia.

More reading

• Santos (ASX:STO) share price lifts 3% following oil price rise
• 5 things to watch on the ASX 200 on Monday
• 5 things to watch on the ASX 200 on Friday
• Santos (ASX:STO) share price slumps amid misleading emissions lawsuit
• The Santos (ASX:STO) share price is now trading on a trailing 2.35% fully-franked dividend yield

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 Mincor Resources NL (ASX: MCR) share price has finished higher more than 4% Monday after the group’s full-year financial report release.

Mincor share price jumps after FY21 earnings

The Aussie nickel and gold miner released its financial report for the year ended 30 June 2021 (FY21). Some of the key takeaways from this morning’s update include:

• Net loss after tax of $13.4 million, down from $14.3 million in FY20
• Net assets up 54.3% on the prior corresponding period (pcp) to $89.4 million
• Total assets increased by 70.1% to $126.4 million due to capitalised mine properties and development expenditure
• No dividend declared

The Mincor share price finished the trading day up 4.14% at $1.385 following the latest financial and operations update.

What happened in FY21 for Mincor?

Mincor commenced development of its Kambalda Nickel Operations in November 2020. That follows the integrated nickel restart plan based on the March 2020 definitive feasibility study for both its Cassini and Northern Operations.

The Cassini Nickel Mine was officially opened in March 2021 with development metres achieved for Cassini totalling 1,493 metres as at 30 June 2021. Work progressed on completing the service works for installation of a raisebore concrete pad for drilling the main Cassini ventilation shaft.

At its Northern Operatiions, development metres achieved at 30 June 2021 totalled 1,971 metres.

On the exploration side, Mincor reported several significant results for the year. Some notable updates include a 16.5% upgrade to the Cassini Main Ore Reserve to 1.21 megatonnes (Mt) at 3.3% nickel (Ni) for 40,100 tonnes of contained nickel and diamond drill intersection at Cassini North of 2.5 metres at 6.6% nickel.

What’s next for Mincor and its share price?

Today’s gains in the Mincor share price have helped it climb 25% higher in 2021. That gives the company a $600 million market capitalisation with its shares sitting just shy of a 52-week high.

The post Mincor (ASX:MCR) share price nears 52-week high after FY21 results appeared first on The Motley Fool Australia.

More reading

• Can the Goodman (ASX:GMG) share price keep smashing the market?
• Imugene (ASX:IMU) share price surges 7% as R&D efforts increase
• Why the Novonix (ASX:NVX) share price is rocketing 20%
• Why Altium, BlueBet, Healius, & HUB24 shares are tumbling lower
• Why the Pilbara Minerals (ASX:PLS) share price is surging 7% today

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The Goodman Group (ASX: GMG) share price has been on form again in 2021.

Since the start of the year, the leading integrated commercial and industrial property company’s shares have risen 17%.

This means the Goodman share price is now up 24% over the last 12 months.

What is Goodman?

Goodman owns, develops, and manages industrial real estate globally. Among its portfolio are warehouses, large scale logistics facilities, data centres, and business and office parks. At the last count, Goodman had $57.9 billion of total assets under management globally, 363 properties under management, and over 1,600 customers.

Demand has been strong for its properties over the last decade and this continued in FY 2021. This is thanks to its focus on investing in and developing high quality industrial properties in strategic locations, close to large urban populations and in and around major gateway cities globally. Management notes that this is where demand is strong and transformational changes are driving significant opportunities.

As a result of this strong demand, Goodman recently reported a 15% increase in operating profit to $1.22 billion for FY 2021.

Positively, it is expecting its strong form to continue and is forecasting 10% earnings per share growth in FY 2022.

Can the Goodman share price go higher?

According to a note out of Citi, it has a buy rating and $26.00 price target on the company’s shares. Based on the current Goodman share price, this implies potential upside of 15% over the next 12 months.

Citi commented: “GMG’s FY21 EPS was +2% above guidance and +1%/+0.5% above consensus/Citi, with the beat vs our estimate driven by higher investment income and lower interest expense/tax. FY22 EPS guidance was introduced at 10% growth or 72.2c, -2% below consensus and -3.5% below our prior estimate. However, we see upside to guidance and the share price, and re-iterate our Buy rating.”

The post Can the Goodman (ASX:GMG) share price keep smashing the market? appeared first on The Motley Fool Australia.

More reading

• 2 excellent blue chip ASX 200 shares named as buys
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• Top brokers name 3 ASX shares to buy next week
• Top broker tips Goodman Group (ASX:GMG) share price to surge higher
• Brokers name 3 ASX shares to buy 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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The Imugene Ltd (ASX: IMU) share price has surged more than 7% on Monday after the immuno-oncology company’s latest full-year results release.

At the time of writing, the Imugene share price is trading at 37 cents apiece, up 7.25

Imugene share price surges 7% as R&D efforts increase

Imugene provided an update for the year ended 30 June 2021 (FY21) this afternoon. Some of the key takeaways include:

• Net loss after tax increased by 75.6% on the prior corresponding period to $18.5 million
• Net tangible asset backing per share down 10% on pcp to $0.60
• Cash outflow of $13.3 million, from a net $10.4 million outflow in FY20
• Net assets increased by 8.7% on pcp to $65.0 million

However, for a research and development (R&D) intensive business like Imugene, the financials don’t tell the full story. Imugene’s increased loss came due to a significant increase in clinical trial and research activities undertaken during the year.

What happened for Imugene in FY21?

The company has 3 major segments or treatment areas: onCARlytics, CF33 Oncolytic Virus and B Cell Immunotherapy.

Immugene obtained the worldwide exclusive licence of patents covering the cell therapy technology known as onCARlytics in May 2021. Developed at the City of Hope cancer research centre near Los Angeles in the United States, the agent tags cancer cells for CAR T cell destruction.

The goal is to target and eradicate solid tumours that are otherwise difficult to treat with CAR T cell therapy alone.

CF33 is a chimerica vaccinia orthopoxvirus from the lab of City of Hope’s Professor Yuman Fong. Pre-clinical data demonstrated that CF33 showed superior replication and cancer cell killing in NCI-60 cell lines and was more potent than all parental and competitor viruses, according to today’s update.

The company received a US Food and Drug Administration (FDA) IND clearance to conduct a first in human Phase 1, open-label, non-randomised, dose-escalation, single centre study of intratumoral administration of its CHECKvacc treatment.

Imugene also plans to conduct a first in human Phase 1, open-label, non-randomised, multi-centre study interrogating intratumoral and intravenous administration routes of its VAXINIA CF33+hNIS monotherapy.

In a big year for Imugene and its share price, the group had its HER-Vaxx Phase 2 interim safety and efficacy data reviewed at the Independent Data Monitoring Committee (IDMC) meeting. The IDMC reported no safety concerns and viewed the preliminary data as strongly in favour of an HER-Vaxx survival effect.

HER-Vaxx completed enrolment into the open-label Phase 2 study on 7 January 2021.

What’s next for Imugene and its share price?

It’s been a huge year of clinical trials and research for Imugene. The company’s share price has reflected that with 270% gains in 2021 so far.

Imugene announced an exclusive strategic partnership with Celularity post year-end. The partnership will explore the therapeutic potential of a combination of onCARlytics and Celularity’s CD19 targeting chimeric antigen receptor (CAR). Nonclinical in vitro and in vivo combination studies are set to commence in 2021.

The Imugene share price is climbing higher on Monday following the result with the immuno-oncology company now boasting a market capitalisation approaching $2 billion.

The post Imugene (ASX:IMU) share price surges 7% as R&D efforts increase appeared first on The Motley Fool Australia.

More reading

• Why Emerge Gaming, Imugene, Mesoblast, & Nick Scali shares are dropping
• Why the Imugene (ASX:IMU) share price is charging higher on Thursday

Motley Fool contributor Ken Hall 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 Novonix Ltd (ASX: NVX) share price is surging today despite silence from the company.

Right now, Novonix shares are trading for 19.95% more than they were at Friday’s close, swapping hands for $4.93 apiece. That’s a new record high for the company’s stock.

While there’s been no news from Novonix today, last week was a busy one for the battery technology company. Additionally, it managed to garner some attention from Australian media over the weekend. Finally, the materials sector as a whole is gaining today.

Let’s take a closer look at the news from, and of Novonix, that might be boosting its share price today.

The latest from Novonix

The last time the market heard from Novonix was on Thursday when the company released its earnings for financial year 2021.

For the financial year just been, Novonix reported a 22.9% increase in revenue compared to that of the prior financial year. However, it posted an increased pre-tax loss.

Despite its relatively positive results, the Novonix share price slipped 4% on Thursday before ending Friday in the red.

Novonix in the headlines  

Today’s movement from the Novonix share price could have been spurred by some good press the company received yesterday.

Novonix’s future plans hit the mainstream media when The Australian published an article stating the Biden administration’s push for electric vehicles could boost demand for the company’s synthetic graphite-based material.

In the company’s full year report, it noted it’s recently received US$5.6 million of funding from the US Department of Energy. The funding was to help boost the production of its synthetic graphite material.

Additionally, Phillips 66 (NYSE: PSX) recently strategically invested into Novonix due to its production of the material, while Novonix closed on the purchase of a facility to help it produce an extra 8,000 tonnes of anode material annually.

Material sector gaining

Finally, Novonix’s shares might simply be enjoying the material sector’s great day.

It’s a fabulous Monday to be an ASX-listed materials company, as many commodities, including gold, iron ore, and copper are booming.

Novonix share price snapshot

Even discounting today’s impressive gains, the Novonix share price has been performing exceptionally well.

It is currently 298% higher than it was at the start of 2021. It has also gained 208% since this time last year.

The post Why the Novonix (ASX:NVX) share price is rocketing 20% appeared first on The Motley Fool Australia.

More reading

• Which ASX companies are starting off the week as the top movers in the ASX 300 today?
• Novonix (ASX:NVX) share price slides despite 23% revenue growth
• Here are 3 of the most heavily traded ASX 200 shares today
• Novonix (ASX:NVX) share price surges another 12%. Here’s why
• Top 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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In late trade, the S&P/ASX 200 Index (ASX: XJO) is on course start the week with a gain. At the time of writing, the benchmark index is up 0.3% to 7,512.3 points.

Four ASX shares that have failed to follow the market higher today are listed below. Here’s why they are tumbling:

Altium Limited (ASX: ALU)

The Altium share price is down 14% to $29.93. This follows the release of the electronic design software company’s full year results. Investors have been selling Altium’s shares despite it achieving its full year revenue guidance with a 1% lift to US$191.1 million. It also upgraded its outlook for FY 2022 and now expects revenue growth of 16% to 20%. It has, however, pushed back its US$500 million revenue target by a year to FY 2026 due to COVID-19.

BlueBet Holdings Ltd (ASX: BBT)

The BlueBet share price has tumbled 10% to $2.53. This morning the sports betting company revealed that it has missed out on a sports betting license. According to the release, BlueBet and its partner Colorado River Indian Tribes (CRIT) were overlooked for one of the 10 licences to operate an online sportsbook in the state of Arizona. Although it met the requirements of a qualified event wagering operator, it missed out after a competitive process which considered a range of factors.

Healius Ltd (ASX: HLS)

The Healius share price is down 7% to $4.68. Investors have been selling the healthcare company’s shares after the release of a very strong (but not quite strong enough) full year result. In FY 2021, Healius doubled its underlying EBIT to $266.5 million. This was 3.5% short of the analyst consensus estimate of $276 million. COVID-19 testing was a key driver of its growth.

HUB24 Ltd (ASX: HUB)

The HUB24 share price has dropped 6% to $29.71. This decline appears to have been driven by news that the investment platform provider’s chairman has been selling shares. According to a change of director’s interests notice, Chairman Bruce Higgins sold a total of 269,700 shares for approximately $8.1 million last week.

The post Why Altium, BlueBet, Healius, & HUB24 shares are tumbling lower appeared first on The Motley Fool Australia.

More reading

• HUB24 (ASX:HUB) share price falls 8% after $8.1m share sale by chairman
• Which ASX companies are starting off the week as the top movers in the ASX 300 today?
• Altium (ASX:ALU) share price down 12% after earnings report
• ASX 200 midday update: Fortescue result and dividend impress, Altium sinks
• Why the BlueBet (ASX:BBT) share price is crashing 13% lower 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. owns shares of and has recommended Altium and Hub24 Ltd. The Motley Fool Australia owns shares of and has recommended Altium. The Motley Fool Australia has recommended BlueBet Holdings Ltd and Hub24 Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Pilbara Minerals Ltd (ASX: PLS) share price is bouncing higher on Monday, up 6.28% to $2.20.

The past two weeks have proved a volatile period for the lithium sector, with most ASX-listed lithium shares experiencing a 10-20% drawdown.

That said, the Pilbara Minerals share price is still up 152% year-to-date, down from a peak year-to-date performance of 181% on 11 August.

What’s driving the Pilbara Minerals share price on Monday?

Broad based buying across the ASX lithium sector

ASX lithium shares are rallying across the board on Monday.

Established producers including Orocobre Limited (ASX: ORE), Mineral Resources Ltd (ASX: MIN) and IGO Ltd (ASX: IGO) are up 5.42%, 2.41% and 3.80% respectively.

Prospective explorers such as Liontown Resources Ltd (ASX: LTR), Lake Resources NL (ASX: LKE) and Charger Metals NL (ASX: CHR) are also catching bids, rallying a respective 5.88%, 14.55% and 5.35%.

The broad-based buying for lithium shares is likely a key driver for the rebound in Pilbara Minerals shares on Monday.

Lithium ETF rebounds last Friday

The Global X Lithium & Battery Tech Exchange Traded Fund (ETF) is another useful gauge for how the lithium market is performing. The ETF, which is listed on the US market, rallied 1.97% higher on Friday, within 2.5% of all-time highs.

The lithium ETF invests in the full lithium cycle, from mining and refining the metal, to battery production and automakers.

The ETF performance reflects a similar narrative as the Pilbara Minerals share price, bouncing off recent lows and within an arm’s reach of all-time highs.

Pilbara Minerals FY21 results

The Pilbara Minerals share price tumbled 4.11% on Thursday, 26 August after the company released its FY21 results.

The company delivered pleasing top-line growth with lithium shipments up 142% to 281,440 dry metric tonnes (dmt) driving a 108.9% revenue increase to $175.8 million.

Despite the significant operational improvement and jump in sales, Pilbara Minerals reported an FY21 net loss of $51 million.

Looking ahead, Pilbara Minerals forecasts FY22 production between 460-510,000 dmt and shipments between 440-490,000 dmt.

The company expects costs to be higher in FY22-23 due to elevated strip ratios, production ramp-up and the restart of its Ngungaju operation.

The post Why the Pilbara Minerals (ASX:PLS) share price is surging 7% today appeared first on The Motley Fool Australia.

More reading

• Why ASX lithium shares are having a bumper start to the week
• The materials sector is leading ASX 200 shares today
• When was the best ever day on the Pilbara Minerals (ASX:PLS) share price chart?
• These 3 ASX 200 shares were flying around the share market this Friday
• Brokers name 3 ASX shares to buy today

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 AGL Energy Limited (ASX: AGL) share price has sunk into the red during afternoon trade on Monday.

AGL shares are now changing hands at $6.55 apiece, an approximate 4% drop from the open.

Let’s investigate why the AGL share price is down today.

What’s in front of the AGL share price today?

Today’s slide in the red for the AGL share price extends the loss it has posted over the last six to eight months.

In the near term, AGL shares have faced selling pressures on the back of the energy giant’s FY21 earnings on 12 August, which came in well behind FY20 on key measures.

In its report, AGL recognised a 10% decrease in revenue from the year prior, whilst underlying profits compressed by 34% to $537 million.

Earnings per share (EPS) to shareholders fell by 32% to 86 cents, whereas the company decreased its FY21 dividend by 24% year over year to 75 cents.

In fact, AGL also opted to suspend its special dividend program, where it had originally planned to pay 25% of underlying profits over the coming two years.

AGL shares have given away 14% — or $1.05 per share — since the company reported its FY21 earnings. Consequently, today’s decline signals a new 52-week low for the company’s share price.

In addition to this, AGL also announced its plans to demerge and form two separate ASX-listed entities, Accel Energy and AGL Australia. The AGL share price immediately slumped on the news.

There is no market sensitive information for the company today. Therefore, it stands to reason that today’s dip into the red may be a continuation of a greater downward trend for the AGL Energy share price.

AGL Energy share price snapshot

The AGL Energy share price has had a rough year to date, posting a loss of 45% since January 1. This extends the loss over the previous 12 months to 56%.

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

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

More reading

• August hasn’t been a great month so far for the AGL (ASX:AGL) share price
• Here’s why the AGL (ASX:AGL) share price is down 6% in a week
• How does the AGL (ASX:AGL) earnings result compare to Origin?
• When was the worst-ever day on the AGL (ASX:AGL) share price chart?
• The AGL (ASX:AGL) share price is underperforming the ASX 200 in 2021

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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