The Mayne Pharma Group Ltd (ASX: MYX) share price is sinking on Friday following the release of its full year results.

At the time of writing, the pharmaceutical company’s shares are down 10% to 26.5 cents.

This leaves the Mayne Pharma share price trading within touching distance of its multi-year low of 26 cents.

Mayne Pharma share price sinks after posting $208.4 million loss

• Revenue down 12% to $400.8 million
• Reported earnings before interest, tax, depreciation and amortisation (EBITDA) down 18% (or 5% in constant currency) to $66.1 million
• Underlying EBITDA down 10% to $86.5 million
• Loss after tax of $208.4 million

What happened in FY 2021 for Mayne Pharma?

FY 2021 was another tough year for Mayne Pharma. Currency headwinds and weak generic products sales led to a 12% year on year decline in revenue to $400.8 million. Management notes that its generic products business was impacted by new competition on key products and ongoing pricing pressures across the portfolio.

And due to Nextstellis set-up costs, the company’s EBITDA fell harder. It was down by 18% on a reported basis to $66.1 million. If you exclude these set-up costs, EBITDA would have been down just 10%. This was thanks also to operating expenditure reductions of $18 million.

But no amount of cost savings could stop Mayne Pharma from posting a loss after tax in FY 2021. It declared a loss of $208.4 million for the year. This was driven by a $229.3 million non-cash intangible asset impairments of the generic portfolio. This follows a $99 million impairment to the generics business in FY 2020.

What did management say?

Mayne Pharma’s CEO, Scott Richards, commented: “At a group level, results have been impacted by the weakening USD which had a $10m adverse impact on EBITDA, the COVID-19 pandemic and ongoing challenges in the US retail generic sector.”

“On a constant currency basis, reported revenue was down 3%, reported EBITDA down 5% and underlying EBITDA down 10% excluding NEXTSTELLIS set up costs. Pleasingly, all segments other than the Generic Products segment contributed to EBITDA growth compared to the prior corresponding period (pcp).”

What’s next for Mayne Pharma?

One possible glimmer of hope for the Mayne Pharma share price is management’s positive view on the long term. This is thanks to its pipeline of products with large addressable markets.

Mr Richards said: “The Company has significantly strengthened its US dermatology pipeline in recent months signing four supply and distribution agreements with leading suppliers for eleven dermatology products which treat key skin conditions such as acne, psoriasis and rosacea. Our partnering success validates our unique go-to-market approach in dermatology which focuses on providing better outcomes for patients, prescribers, and specialty pharmacies.”

“All products have final FDA approval other than two which have tentative FDA approval. The two largest products with combined IQVIA sales of more than US$300m are expected to be meaningful contributors to our business this fiscal year given current market conditions and competitive dynamics. The Company continues to prosecute its other programs pending at the FDA including a generic version of Nuvaring, which is targeting an addressable market of US$680m.”

The company also expects its growth to be boosted by the successful commercialisation of Nextstellis in the US and Australia, the launch of more than a dozen dermatology and women’s health products in the US targeting markets with IQVIA sales of US$1.5 billion, the accelerating growth of Metrics Contract Services and International, and continued optimisation of its cost base.

Though, judging by the Mayne Pharma share price performance today, some investors aren’t sticking around to see if FY 2022 is a big improvement on the last few years.

The post Mayne Pharma (ASX:MYX) share price crashes 10% on $208.4m loss in FY21 appeared first on The Motley Fool Australia.

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• Why Bubs, Mayne Pharma, Paradigm, & PointsBet shares are tumbling lower
• Mayne Pharma (ASX:MYX) share price drops on class action

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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As many of you might know by know, the ASX is currently in the middle of a hectic earnings season this August. And while much of the attention is fixed on the big ASX blue chip shares, it’s also a good time to check in with some of the ASX’s most recent IPOs (initial public offerings).

Last week, we looked at how the inaugural earnings reports of two recent ASX IPOs – Airtasker Ltd (ASX: ART) and Doctor Care Anywhere Group plc (ASX: DOC) – were received by investors. Today, we’ll look at two additional ASX IPOs which have recently reported their first earnings to the markets.

Best & Less Group Holdings Ltd (ASX: BST)

Although Best & Less has been a staple retail name in Australia for decades, it has only recently made its ASX debut in its current form. Yes, Best & Less had its ASX IPO back in late July. In the month or so it has been on the ASX boards, Best & Less shares have performed exceptionally well, rising more than 17%.

This retailer reported its inaugural earnings for the 2021 financial year (FY21) just yesterday, and they make for some interesting reading. As my Fool colleague Brooke covered yesterday afternoon, Best & Less reported revenue growth of 6% over FY20 to $663.2 million. Earnings before interest, tax, depreciation, and amortisation (EBITDA) came in at $71.6 million – up 165%. While net profit after tax was $47 million, up 191%.

The Best & Less share price has responded very positively today, up a healthy 2.18% at the time of writing to $2.81 a share.

Cobram Estate Olives (ASX: CBO)

Olive oil company Cobram is another recent addition to the ASX boards. Cobram only had its ASX IPO back on 11 August. And like Best & Less, it’s been going pretty well so far. Since its debut, Cobram shares have climbed a healthy 10.2%.

Cobram reported its first earnings report yesterday afternoon as well. Although total olive oil sales were flat year on year ($140 million for FY21, compared with $140.7 million for FY20), the company did generate $22.1 million in cash from operations, up from $13 million for FY20.

Cobram also reported $70.3 million in group EBITDA for FY21, which was up from $19.7 million the previous year.

Overall, the company was able to post a net profit after tax of $32.6 million, which was up substantially from FY20’s net loss of $32.7 million.

The Cobram share price hasn’t reacted to its earnings quite as optimistically as Best & Less though. Cobram shares are currently down 0.24% today to $2.06 a share.

The post These recent ASX IPOs have just reported for the first time. How’d they go? appeared first on The Motley Fool Australia.

More reading

• Best & Less (ASX:BST) share price slides despite record profit

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 ClearVue Technologies Ltd (ASX: CPV) share price has shot up this week, posting gains of almost 25% for investors.

This follows the smart building materials company’s announcement on Wednesday that it had received a first order from a Japanese distributor.

At the time of writing, ClearVue shares are up 5.7%, trading at 37 cents.

What’s driving ClearVue shares higher?

In its release, ClearVue advised that Japanese greenhouse leader Tomita had placed an order for its solar photovoltaic (PV) glazing solution.

ClearVue signed an exclusive distribution agreement with Tomita in April for the sale and marketing of its product.

The company said the patented solution would be used in a greenhouse at a tourism eco-project in Japan.

In total, 187 ClearVue glazing panels will be installed, covering an area of around 333sq m. This will be deployed into a roof of a strawberry greenhouse which forms part of the Aqua Ignis Hot Springs project.

The advanced glass technology incorporates a clear lamination layer between glass panels that drives unwanted wavelengths of UV and IR light to solar PV cells. Located around the edge of an integrated glazing window unit, the solar PV cells are used to generate electricity.

The company expects that the PV glazing panels on the greenhouse will generate approximately 8,573kWh of renewable energy per year.

No doubt, investors are excited about the company’s latest developments, sending the ClearVue share price higher.

Management commentary

ClearVue executive chair Victor Rosenberg commented:

The Aqua Ignis project in Sendai is a great starting project for ClearVue distributor Tomita and it will provide invaluable insights into the installation and technical nuances of the ClearVue product before Tomita takes on larger scale greenhouse projects throughout Japan.

Additionally, the high-profile nature of the project will provide invaluable marketing and promotion for both Tomita and ClearVue, demonstrating not only the benefits of the ClearVue product but also its versatility in different application settings.

About the ClearVue share price

The ClearVue share price has surged more than 160% over the past 12 months.

Based on today’s price, ClearVue commands a market capitalisation of roughly $77.7 million, with about 210 million shares on issue.

The post Why the ClearVue (ASX:CPV) share price is soaring 25% this week appeared first on The Motley Fool Australia.

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• CV Check (ASX: CV1) share price gains on FY21 earnings
• Why is the Coles (ASX:COL) share price down 5% this week?
• Australian Finance Group (ASX:AFG) share price gains on FY21 profit boost
• Sonic Healthcare (ASX:SHL) share price hits record high at $43.43

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 CV Check Ltd (ASX: CV1) share price is in the green today after the company released its earnings for financial year 2021 (FY21). 

Right now, the CV Check share price is 17 cents, 3.03% higher than its previous close.

CV Check share price gains on $17.4 million revenue

Here’s how the credential verification platform provider performed through FY21:

• $17.4 million in revenue, 41% more than FY20’s revenue
• A comprehensive $926,616 loss, an improvement on the prior period’s $1.3 million loss

CV Check’s loss included the $733,082 it spent to acquire Bright People Technologies’ parent company.

Over FY21, the CV Check platform brought in $16 million of revenue, representing a 30% year-on-year growth rate. Additionally, the platform’s annual recurring revenue grew by 39% to $13.2 million. 

In the only quarter in which Bright People Technologies was part of the company, its platforms generated $1.4 million in revenue. Of that, $573,255 was software-as-a-service (SaaS) revenue. 

CV Check ended the year with a cash balance of $12.9 million.

What happened in FY21 for CV Check?

The financial year just been was a big one for CV Check and its share price.

The company agreed to purchase CI6, an entity that owns 100% of Bright People Technologies, in February. 

Bright People Technologies is a SaaS provider of workforce credentials and compliance software. The business has a small number of blue-chip clients, including BHP Group Ltd (ASX: BHP), Woodside Energy, and Cash Converters International Ltd (ASX: CCV).

CV Check completed a $10.5 million share placement to fund the acquisition. 

CV Check undertook work to develop and commence the rollout of automated verification processes in FY21. The company also focused on enhancing its security defences and protocols.

The Bright People Technologies acquisition was completed in the final quarter of FY21. The company has since integrated Bright People’s technical team into its own. 

What did management say?

CV Check’s chair Ivan Gustavino commented on the results driving the company’s share price today, saying:

I am proud to say that, emerging from an extremely challenging year in good shape, CV Check delivered solid achievements and is uniquely placed to build on its success. FY2021 was an immensely challenging year: The continued disruptive effects of the COVID-19 pandemic and government response measures presented challenges internally (in managing the effects on our own workforce) and externally (causing uncertainty in our markets). Those disruptive effects have not abated, and look set to continue into the current financial year. 

In the midst of that disruption, the company took on its own challenges as it embraced change — completing the acquisition of the business of Bright People Technologies Pty Ltd, embarking on an integration of the two businesses, merging its management structures, beginning a process of consolidating its technology platforms, and setting itself to become an international Reg Tech company…

Notwithstanding the width of the challenge thrown to it, the company has delivered on the goals set by the board: growing revenue and [annual recurring revenue] from the core CV Check platform business; maintaining transaction and SaaS revenue from the newly acquired BPT platforms; completing the first phases of the planned integration of the businesses; and planning for the medium to long-term consolidation of the technology stacks. 

What’s next for CV Check?

CV Check outlined a number of happenings those interested in its share price might want to watch out for.

The company’s key objective for FY22 is to introduce some of the CV Check platform’s thousands of corporate clients to the Bright People platform. It expects this will help grow its SaaS revenue.

Additionally, CV Check is on track to roll out enhanced monitored compliance features on Bright People’s platforms.

It also outlined some macro drivers that have boosted its performance so far. First is the shift to a digitally delivered service-based economy. The second is COVID-19, which has highlighted the need for companies to provide their services remotely.

CV Check share price snapshot

The CV Check share price has slipped 10% since the start of 2021. However, it is 88% higher than it was this time last year.

The post CV Check (ASX: CV1) share price gains on FY21 earnings appeared first on The Motley Fool Australia.

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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 recommended CV Check 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 Coles Group Ltd (ASX: COL) share price is back where it started this month.

Despite a strong start to August, shares in the supermarket giant have slumped more than 5% since the start of this week.

Let’s take a look at what’s been moving the Coles share price.

Why is the Coles share price sinking?

There have been several catalysts that have attributed to a weaker Coles share price this week.

Most recently, the supermarket giant announced a restructuring of its refinancing package.

Coles announced that it had refinanced $1.3 billion of bank-financed debt into a 4-year Sustainability Linked Loan (SLL).

Under the new arrangement, the company’s debt will be linked to three sustainability targets.

These targets include reducing CO2 emissions, increasing the proportion of women in leadership roles and reduce waste sent to landfills.

According to Coles, the new arrangement is in line with the company’s ambition of becoming Australia’s most sustainable supermarket chain.

In addition, a strong full-year result from archrival Woolworths Group Ltd (ASX: WOW) also proved a dampener for the Coles share price.

Coles has also been on the receiving end of some unfavourable broker coverage.

According to a recent note from UBS, analysts retained a sell rating on the retailer.

The broker noted that, despite delivering full-year results in line with expectations, Coles may struggle to gain market share in the future.

How did Coles perform in FY21?

Despite a sell-off this week, the Coles share price received a boost last week after reporting a solid full-year result.

Highlights from the company’s FY21 report included;

• Sales revenue increased 3.1% to $38,562 million.
• Earnings before interest, tax, depreciation, and amortisation (EBITDA) up 5.4% to $3,432 million.
• Net profit after tax up 7.5% to $1,005 million (compared to consensus estimates of $998.2 million).
• Fully franked final dividend of 28 cents per share. Resulting in a record total dividend of 61 cents per share, up 6.1% from FY20.

Snapshot of the Coles share price

Overall, the Coles share price has underperformed the broader market in 2021.

Shares in the retailer are down around 2% since the start of the year.

In comparison, the broader S&P/ASX200 Index (ASX: XJO) has risen more than 13% since the start of 2021.

The post Why is the Coles (ASX:COL) share price down 5% this week? appeared first on The Motley Fool Australia.

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• How does the Woolworths (ASX:WOW) earnings result compare to Coles (ASX:COL)?
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• Telstra (ASX:TLS) and this dividend share have been named as buys
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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 owns shares of and has recommended COLESGROUP DEF SET. 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 Australian Finance Group Ltd (ASX: AFG) share price is edging higher in late morning trade, up 0.84%, having earlier posted gains of 4%.

At time of writing, the Australian Finance Group share price is exchanging hands at $2.99 apiece.

Below we take a look at the ASX mortgage broking group’s full year financial results for the year ending 30 June, 2021 (FY21).

Australian Finance Group share price lifts on FY21 results

• Total revenue increased 11% year-on-year to $767.1 million
• Underlying net profit after tax (NPAT) of $49.6 million, up 37% from the $36.3 million reported in FY20
• Net cash from operating activities increased 45% to $58.6 million
• Declared a final dividend 7.4 cents per share, up 57% from FY20 final dividend

What happened during the reporting period for the company?

Australian Finance Group credited its 11% increase in revenue to settlement and loan book growth across its business.

The company reported a 28% increase in residential settlements to $43.6 billion. It said first home buyers and upgraders were driving the growth, powered by low interest rates, government stimulus and a better economic outlook.

AFG Securities settlements of $1.35 billion were roughly equal to the prior year, with the loan book increasing by 17% to $3.4 billion. The company said its combined residential and commercial loan book of $175.7 billion was up 8% from FY20.

Australian Finance Group’s broker numbers were also on the up, reaching more than 3,050 as at 30 June.

During the year, the company continued to roll out its new platform, CRM “built on enterprise-grade technology”. AFG said plans were underway for a staged migration of each broker across its network to the new platform.

In FY21, Australian Finance Group also acquired an 8% stake in neobank Volt. The company said that Volt’s innovative technology would help it deliver “streamlined digital solutions for our brokers and their customers”.

On the subject of environmental, social, and corporate governance (ESG) metrics, AFG advised it was making significant progress in its approach and reporting.

What did management say?

Commenting on the results, Australian Finance Group CEO David Bailey said:

This is a record profit for the company reflecting the hard work of our staff and our brokers who now count in excess of 3,050… This past year has once again shown the resilience of our business and the core role our brokers play in delivering a competitive lending market and a service sought after by Australians building wealth in the residential market and in business enterprises across the country.

Our brokers have experienced record demand for their services to Australian borrowers. Our core residential business increased by 28% this year to deliver $43.6 billion in settlements.

What’s next for Australian Finance Group?

Looking ahead, AFG said it was well-placed to continue delivering growth for its shareholders while offering choice and competition for Aussie mortgage customers.

As at 30 June, the company held cash and other financial investments of $282 million.

Bailey said AFG remained alert to the risks and challenges posed by the ongoing COVID-19 pandemic, but is confident the company was “well-equipped to respond”.

“As a major aggregator, AFG is well-placed to participate in the increased preference by Australian consumers to access home loan products through a broker,” he said.

The Australian Finance Group share price is up 56% over the past 12 months.

The post Australian Finance Group (ASX:AFG) share price gains on FY21 profit boost appeared first on The Motley Fool Australia.

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• BHP (ASX:BHP) share price flat despite rebound in iron ore prices
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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 Sonic Healthcare Limited (ASX: SHL) share price has jumped out of the starting blocks on Friday.

Sonic Healthcare shares are now exchanging hands at $42.96, after reaching a new record high of $43.43 in early trade.

Let’s investigate further.

What’s up with the Sonic Healthcare share price today?

The Sonic Healthcare share price has been on the move since the company reported its FY21 earnings on 23 August.

Since then, the company’s shares have increased from $41.65 to the current quote price, which is a 3.15% climb.

In its FY21 earnings report, Sonic recognised a 28% year on year increase in revenue to almost $9 billion, whereas it recorded an 81% increase in EBITDA from the same time last year.

This growth occurred alongside EBITDA margins improving by over 9% in FY21, underscored by a strong performance in the company’s ANZ, USA and European markets.

In addition, it grew net profit by about 150% over the year to $1.3 billion. Consequently, the company raised its FY21 dividend by 7% to 91 cents per share.

Despite the growth in FY21, management was hesitant on providing FY22 guidance, due to uncertainties around Covid-19 testing volumes as we walk through the coming periods.

There is no market sensitive information for the company today. Therefore, it stands to reason that investors are driving the Sonic Healthcare share price higher on the back of its well-rounded FY21 performance.

Sonic Healthcare share price snapshot

The Sonic Healthcare share price has posted a year to date return of 34%, extending the previous 12 month’s gain of 30%.

In addition, Sonic shares are 7% in the green over the last month.

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

The post Sonic Healthcare (ASX:SHL) share price hits record high at $43.43 appeared first on The Motley Fool Australia.

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The author Zach Bristow has no positions in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Sonic Healthcare 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 Weebit Nano Ltd (ASX: WBT) share price is under pressure today after the company released its full-year results for FY21.

At the time of writing, shares in the computer chip developer are trading for $2.64 – down 4%. For context, the ASX All Ordinaries Index (ASX: XAO) is 0.12% lower.

Let’s take a closer look at today’s news.

Weebit Nano share price slumps as R&D expenses jump 3,400%

Here are some of the highlights from the Weebit Nano results:

• Nil revenue for the period, which is the same as the prior corresponding period (pcp). The company cites being in the “research and development stage” of its operations as to why this is the case.
• Losses before tax of $11.3 million – up 180% on the pcp. This was driven by a 3,400% jump in R&D expenses to $5.3 million, a 378% rise in sales and marketing expenses to $1.3 million, and a 23% lift in general and administrative expenses to $4.6 million.
• Basic loss per share of 10.1 cents – up 77.2% on the pcp. Tangible assets per share are 17.19 cents. This is 328% higher than the pcp.
• Net operating cash outflow of about $7 million.

What happened in FY21 for Weebit Nano?

The biggest story of the financial year overall and that affecting the Weebit Nano share price was the COVID-19 pandemic.

CEO Coby Hanoch conceded the pandemic had an adverse impact on the company in 20/21. He said:

…Ongoing COVID-19 restrictions and lockdowns have slightly delayed our original development and commercial timelines. Travel restrictions have prevented our engineers from being able to work alongside [development partner] Leti in the fab, as well as hindered our ability to have face-to-face meetings with potential customers and production partners. In June, we had our first international face-to-face meetings in more than a year, and hope these will increase in FY22 as vaccines are rolled out and restrictions continue to ease.

Besides the coronavirus, other major stories that affected the Weebit Nano share price included a capital raise via a share purchase plan and an important step in the commercialisation of its ReRam chips.

What else did management say?

Hanoch also had the following to say:

Weebit Nano made substantial progress towards first commercialisation and productisation over the past year, despite dealing with challenging operating conditions. In FY21, we achieved key technical milestones within both the embedded and discrete markets, broadened our development partnership with Leti, advanced negotiations with potential customers and partners, and were included in the S&P/ASX All Technology Index and the S&P/ASX All Ordinaries Index.

Weebit enters FY22 well funded to execute its commercialisation program, including securing first commercial agreements, transferring its technology to a production fab, technology qualification, and progressing the development of a solution for the discrete memory market.

What’s next for Weebit Nano?

In what may be significant for the Weebit Nano share price going forward, the company says it is on the “cusp of commercialisation”. It expects to announce revenue in this financial year.

Hanoch says the company’s products will “address the growing global demand for faster and more efficient memory technology for use in almost every application – everything from smartphones and consumer products through to cars, IoT and artificial intelligence”.

Weebit Nano share price snapshot

Over the past 12 months, the Weebit Nano share price has increased by around 380%. Year-to-date, however, it is down 0.38%.

Weebit Nano has a market capitalisation of around $340 million.

The post Weebit Nano (ASX:WBT) share price falls as losses accelerate 180% appeared first on The Motley Fool Australia.

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Motley Fool contributor Marc Sidarous 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 BHP Group Ltd (ASX: BHP) share price has largely been range bound between $44-45 following a devastating 15% selloff last week.

Shares in the iron ore major have struggled to find any momentum despite an improvement in iron ore prices.

According to Fastmarkets MB, seaborne iron ore prices were up on Thursday 26 August, amid an uptrend in Chinese futures. Benchmark iron ore prices increased US$4.26 per tonne to US$152.92/tonne.

Iron ore price showing signs of life

Iron ore prices have tipped higher this week following signs of resilient demand and accommodative policies from China.

According to Bloomberg, China’s central bank chief vowed to “stabilise the supply of credit and boost the amount of money supporting smaller businesses and the real economy, after both credit and economic growth slowed in July”.

This statement comes after new credit growth expanded at its slowest pace since February 2020, driven by a slowdown in government stimulus, tighter rules for property development finance and the delta variant taking a hit on the broader economy.

Commodity markets have responded positively to China’s view of increasing the amount of credit and strengthening the growth in total credit.

While an uptick in iron ore prices typically spells good news for the BHP share price, it looks like the damage has already been done. Prices have fallen more than 30% from record peaks in May.

What’s next for the BHP share price?

The BHP share price will go ex-dividend on Thursday 2 September for a final dividend of US$2 per share (~A$2.76).

At today’s prices, the final dividend represents a yield of approximately 6.16%.

Investors should keep an eye out for the BHP share price when it goes ex-dividend, given Rio Tinto Limited (ASX: RIO)’s ex-dividend performance.

The Rio Tinto share price tumbled 6.88% on 12 August from $129.14 to $120.26 after trading ex-dividend.

Its share price decline was greater than the fully franked interim dividend of 760.06 cents per share.

The post BHP (ASX:BHP) share price flat despite rebound in iron ore prices appeared first on The Motley Fool Australia.

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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 Mineral Resources Limited (ASX: MIN) share price has been on fire in 2021. Shares in the Aussie lithium and iron ore miner are up 76% in the past 12 months and outperforming the S&P/ASX 200 Index (ASX: XJO).

Here’s what’s driving this ASX share higher in the year to date.

Why the Mineral Resources share price has beaten the ASX 200 in the last year

Let’s start with the Aussie benchmark index. The ASX 200 index is up 22% in the past 12 months and sitting at more than 7,400 points right now.

Those are some strong gains from the broad market index. However, the Mineral Resources share price has more than tripled those gains in the last year.

As with any resources share, it pays to look at the commodity prices to help explain share price moves. Both lithium and iron ore prices have been surging higher since November 2020.

Iron ore prices climbed 95% to a peak of US$229.50 per tonne on 12 May 2021, while lithium carbonate prices are up 137% to 92,500 Chinese Yuan per tonne.

There has been a steep iron ore price decline since mid-July which has been reflected in the Mineral Resources share price in the last month or so. That’s largely been driven by concerns about a regulatory crackdown in China and the country reducing imports to drive its steel industry.

Shares in the Aussie resources group have fallen 14.6% in the past month but are still outperforming the benchmark ASX 200 index over the past 12 months.

The Aussie resources group reported its full-year earnings on August 11 and posted a 230% increase in underlying net profit after tax to $1,103 million. Group revenue rocketed 76% to $3,734 million as the company announced a 175 cents per share final dividend for shareholders.

Foolish takeaway

At the time of writing, the Mineral Resources share price is down 1.47%, trading at $52.12. It has a price to earnings (P/E) ratio of 7.8 times with a dividend yield of 5.25%.

The post Why the Mineral Resources (ASX:MIN) share price has beaten the ASX 200 in the last year appeared first on The Motley Fool Australia.

More reading

• The Mineral Resources (ASX:MIN) share price is now trading on a 5.35% fully franked dividend yield
• ASX 200 Weekly Wrap: Miners drag ASX back to earth
• August hasn’t been a great month for the Mineral Resources (ASX:MIN) share price
• These were the worst performing ASX 200 shares last week
• What’s going on with ASX lithium shares today?

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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