The CSL Limited (ASX: CSL) share price has gained 14.36% over the last 6 months, despite limited news having been released by the company.

However, the period has been a busy one for CSL, as detailed in its financial year 2021 results which dropped last week.

Right now, the CSL share price is $306.91, having gained 0.26% today.

Let’s take a closer look at what CSL has been up to over the past 6 months.

The 6 months just gone for CSL

The CSL share price is currently a whopping 14% higher than it was exactly 6 months ago, despite the company having been relatively quiet. Indeed, the most exciting news from CSL was also its most recent.

CSL released its full-year report to the market on Wednesday last week. Over the financial year 2021, CSL’s revenue increased 9.6% and its profit after tax boosted 10% higher.

Additionally, the company increased its final dividend by 10% to US$2.22 per share.

While the CSL share price initially fell 1.4% on its FY21 results, it has gained since 4.5%.

The only other time the ASX heard price-sensitive news from CSL during the last 6 months was in May when the company announced it was to acquire the rights for etranacogene dezaparvovec (AMT-061), a late-stage haemophilia B treatment.

The deal saw CSL pay Uniqure NV US$450 million for the rights. CSL also agreed to provide milestone royalty payments to Uniqure.

Additionally, as The Motley Fool Australia recently reported, CSL’s gains could have been helped along by its candidacy in potentially producing mRNA vaccines in Australia, or the Australian dollar’s strength against that of the US.

CSL share price snapshot

The last 6 months have seen the CSL share price perform a strong upturn.

Right now, it is 8.3% higher than it was at the start of 2021. It is also 3.8% higher than it was this time last year.

The post The CSL (ASX:CSL) share price has gained 14% in the last 6 months 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. owns shares of and has recommended CSL Ltd. 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 Event Hospitality and Entertainment Ltd (ASX: EVT) share price is up following the release of the company’s financial year 2021 (FY21) earnings.

Right now, the Event share price is $13.04, 4.49% higher than its previous close.

Event share price jumps despite severe COVID-19 impact

Here’s a snapshot of how the company performed during FY21:

• Earnings before interest, tax, depreciation, and amortisation (EBITDA) of $27.2 million – 71% less than FY20
• $653 million of revenue excluding government subsidies, down 45.4%
• Loss of $63 million before income tax.
• No dividend

In its earnings report, Event said it was hit hard by COVID-19 restrictions over FY21.

Its Australian and New Zealand entertainment segment brought in an EBITDA loss of $6.4 million, while its German entertainment segment saw an EBITDA loss of $33.6 million. The company’s event segments house its cinemas, which spent much of FY21 closed due to pandemic-related lockdowns.

However, the company’s hotels and resorts segment was in the green with EBITDA of $33.4 million. Its Thredbo Alpine Resort also had a positive EBITDA, reaching $29.7 million.

In addition, Event reported its property and investments brought in $16.7 million of EBITDA.

The company’s property portfolio saw a fair value increment of $6.9 million, while rental revenue was down due to COVID-related rent relief.

Since the start of the COVID-19 pandemic in 2020, Event has created $264 million of cost reductions.

Additionally, it accessed government wage subsidy programs including JobKeeper, New Zealand’s Wage Subsidy, and Germany’s Short-Time Pay. Event stated the subsidies provided no net benefit to the company.

Event’s insurance costs increased by 75.9% to $11.2 million during FY21.

As of 30 June 2021, Event had reduced its net debt by 25% to $355.5 million.

What happened in FY21 for Event?

FY21 was a productive year for Event and its share price.

Over the period, the company made progress on 2 major property developments.

The first being a $37 million value add on to 525 George Street in Sydney through a stage 1 development application. The company expects a stage 2 development application to be lodged in FY22 and the sale of 109 apartments to start in 2023/24.

Additionally, the development application for the podium component of the company’s proposed 458-472 George Street development has been approved. The development will see ground-floor retail space on George Street, and the QT Sydney hotel with 72 new hotel rooms, a conference centre and a QT rooftop bar.

CineStar Germany remained closed throughout the second half. It reopened on 1 July 2021. The company advised German government support would help to offset its losses during the closure period from November 2020. So far, Event has applied for €27.5 million ($43.5 million) of support to date.

Event realised $79.6 million of proceeds (before selling costs and tax) from its non-core property divestment strategy. However, $30.3 million of those are yet to settle.

The assets sold were the Forum Building in Brisbane, the Double Bay property, 201-203 Port Hacking Road Miranda, Rydges Plaza Cairns Hotel, Cairns City Cinema, and Mt Maunganui Cinemas.

Event also acquired property, plant, and equipment valued at $30.2 million during FY21.

What did management say?

Commenting on the results, Event CEO Jane Hastings said:

Whilst government mandated temporary lockdowns and restrictions have continued to impact our business, we have seen a strong return to cinemas when we have quality films, and customers are spending more than they were pre-COVID-19… It is clear from the second half results that when government restrictions are lifted, demand returns…

Whilst the Delta variant outbreak and government lockdowns in Australia during June 2021 did not significantly impact the result for the year, it has materially impacted the results for our Australian divisions in July and August 2021. We managed to break even in July.

Hastings said the speed of government vaccine rollout programs in Australia and New Zealand, underpinned by a clear framework for reopening, would determine the timeline for recovery.

Our industries have been amongst the most impacted, with lockdowns reducing revenue by almost 100%… At this time, large businesses, with the most employees, are not eligible for direct government support. This is disappointing as the previous JobKeeper scheme enabled these larger employers to retain jobs and provide security for employees.

What’s next for Event?

Here’s what might dirving the Event share price in FY22:

Event stated it couldn’t provide guidance due to COVID-19. However, it did outline its future plans.

The company plans to bring in more than $150 million from the sale of more non–core properties during FY22. It is also identifying non-core assets to sell in FY23. It hopes to realise $250 million of proceeds from the sale of non-core assets over the next 2 years.

The company plans to strengthen its property portfolio by investing in developing assets that generate reasonable returns, potentially developing some of its Sydney assets, maximising rental income, divesting under-performing assets, and potentially acquiring assets that generate positive earnings.

Its entertainment segment will look to continue the development of its ‘Cinemas of the Future’ strategy, investing in good locations and reviewing underperforming locations, implementing new pricing strategies, developing new food and beverage concepts, and looking to new technology and entertainment concepts to increase efficiency.

Event also has a strategy to maximise earnings from its hotels and resorts segment and its Thredbo Alpine Resort.

Finally, Event will launch its corporate social responsibility strategy during FY22. After releasing its scope 1 and 2 carbon emissions recently, the company will begin to report under the Financial Stability Board’s Task Force on Climate-related Financial Disclosures framework.

Event share price snapshot

The Event share price has gained 35% year to date. It is also 56% higher than it was this time last year.

The post The Event (ASX: EVT) share price is gaining on FY21 earnings appeared first on The Motley Fool Australia.

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• The CSL (ASX:CSL) share price has gained 14% in the last 6 months
• IDT Australia (ASX: IDT) share price surges 16% on vaccine government talks
• 1 smart way to invest in Dogecoin without buying cryptocurrency
• Sonic Healthcare (ASX:SHL) share price down 3% despite surging FY21 profits

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

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The IDT Australia Limited (ASX: IDT) share price has soared into the green during early trade on Monday.

IDT shares are on the move as the pharmaceuticals company gave a key update.

Let’s investigate further.

What did IDT announce?

IDT provided some additional colour on a previous announcement made on 22 July regarding the company “potentially providing cGMP manufacturing services” for an mRNA vaccine candidate.

Recall that IDT had previously stated it could manufacture up to 100 million doses of an mRNA vaccine within 18 months.

On Monday, IDT confirmed that these discussions “recently extended” to include the Commonwealth and Victorian Governments, alongside Monash University. IDT stated the discussions “are progressing well”.

Moreover, IDT advised that its sterile readiness agreement with the Department of Health to bring “IDT’s sterile manufacturing facility into a state of readiness to produce a Covid-19 vaccine” was finalised.

This agreement “provides for an exclusivity period” with the Australian government under one of two outcomes (as per the release):

• Executing a supply agreement for IDT to provide Covid-19 vaccine services to the department of heath, OR
• Four months from competion of IDT’s sterile readiness works.

In other words, IDT’s efforts to ready the facility is on a “vaccine agnositc basis”, meaning the company will have the site prepared, and only if and when the government calls upon them to produce a Covid-19 vaccine will IDT do so.

In addition, an important note for consideration is that the decision to manufacture the vaccine is at the Government’s discretion.

As a result, investors are buying IDT shares in droves after the news, pushing the IDT Australia share price higher.

IDT shares are now exchanging hands at 70 cents apiece, a 27% surge into the money from the open.

IDT Australia share price snapshot

The IDT share price has posted a year to date return of 278%, extending the previous 12 month’s gain of 312%.

These returns have outpaced the S&P/ASX 200 Index (ASX: XJO)’s climb of around 25% over the past year.

The post IDT Australia (ASX: IDT) share price surges 16% on vaccine government talks appeared first on The Motley Fool Australia.

More reading

• Why the IDT (ASX:IDT) share price is rocketing 25% on Wednesday

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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This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

Dogecoin (CRYPTO: DOGE) investors have been on a wild ride this year. Between January and May, its price skyrocketed over 15,000% to a little over $0.74, only to lose more than half of its value just weeks later. But as of this writing, Dogecoin is still up about 6,700% year to date, and the price has been climbing consistently over the past month.

Investors may see this as an opportunity — perhaps the Shiba Inu is finally back on track to reach the moon! But before you make any decisions, it’s important to consider the risks and weigh all of your options. For instance, there are ways to get Dogecoin exposure in your portfolio without actually buying any cryptocurrency. Let’s dive in.

The downside of Dogecoin

Dogecoin started as a joke, but it has garnered a substantial following on social platforms like Reddit and TikTok. In fact, earlier this year, Dogecoin surpassed Bitcoin to become the most mentioned cryptocurrency on Twitter. And of course, Elon Musk added fuel to that fire with a series of amusing tweets mentioning Dogecoin.

But here’s the problem: Dogecoin’s value is based solely on its popularity, and popularity is fickle. The tide can quite literally turn overnight, and that’s exactly what happened in May. More to the point, despite a huge social following, Dogecoin is still worth a fraction of Bitcoin’s total market value, and it doesn’t offer the programmability of other blockchains like Ethereum. In short, nothing significant differentiates Dogecoin from the thousands of other cryptocurrencies that now exist.

There’s also another problem: Dogecoin is difficult to value. Investors use metrics like revenue, earnings, and discounted cash flows to value stocks. But Dogecoin isn’t a cash-generating business, nor is it an interest-generating asset like a bond. For that reason, speculating on Dogecoin’s future price is more akin to gambling.

Of course, that doesn’t mean its price is going to plummet. Someone always wins the lottery, and a year from now, Dogecoin could be worth 10 times what it is today. Or it could be worth less than $0.01, just like it was nine months ago. Regardless, it’s a very risky investment.

The benefits of Coinbase

Coinbase (NASDAQ: COIN) helps its clients participate in the cryptoeconomy, the burgeoning ecosystem that includes assets like Bitcoin and Dogecoin, as well as non-fungible tokens (NFTs), smart contracts, and decentralized financial (DeFi) applications.

The company serves 68 million users, including retail investors, institutions, and ecosystem partners. Its platform offers a range of products such as analytics software, developer tools, and mobile wallet services. However, Coinbase is primarily a brokerage, and 85% of its revenue came from transaction fees during the most recent quarter.

Put another way, Coinbase thrives when the crypto market is volatile: Higher trading volume means more transaction fees, and that means more revenue for the company. So, if you’re interested in Dogecoin — or any other cryptocurrency — Coinbase can help you capitalize on that volatility, whether the price is moving up or down.

For instance, consider the company’s financial performance through the first half of 2021. As Dogecoin and the broader crypto market soared in the first quarter, then crashed in the second, Coinbase posted incredible growth on both the top and bottom lines.

Metric	H1 2020	H1 2021	Change
Revenue	$377 million	$4.03 billion	969%
Earnings per share	$0.15	$9.60	6,300%

Source: Coinbase SEC Filings. Note: earnings per share is based on diluted share count.

More importantly, Coinbase has differentiated itself from other brokerages through significant investments in cybersecurity and regulatory compliance. In fact, it secures clients’ funds with the largest hot wallet crime program in the insurance market. And the company currently holds $180 billion in assets on its platform, or 11.2% of all existing crypto assets, making it a trusted brand name. As a result, some Wall Street analysts see significant upside for shareholders.

Here’s the bottom line: Coinbase is by no means a risk-free investment. Since its initial public offering in April, the stock has plunged over 30% from its opening price. But I do think it’s less risky than buying Dogecoin outright, simply because Coinbase is a cash-generating business that doesn’t depend on the success of any single cryptocurrency.

That’s why this stock looks like a smart way to get Dogecoin exposure in your portfolio without actually buying any Dogecoin.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

The post 1 smart way to invest in Dogecoin without buying cryptocurrency appeared first on The Motley Fool Australia.

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• Crypto assets surpass US$2 trillion on Bitcoin rally… now what?
• ASX 200 Weekly Wrap: New records just keep coming for the ASX 200

Trevor Jennewine 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 Bitcoin, Ethereum, and Twitter. 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.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

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The Sonic Healthcare Limited (ASX: SHL) share price is under pressure on Monday after the company released its FY21 results.

At the time of writing, shares in the medical diagnostics company are down 3.22% to $41.45.

What happened to the Sonic Healthcare share price?

Sonic Healthcare delivered a seemingly positive FY21 result with highlights including:

• Revenue of $8.8 billion, up 28% on the prior corresponding period (pcp).
• Earnings before interest, taxes, depreciation, and amortisation (EBITDA) lifting to $2.6 billion, up 81%.
• Net profit surging to $1.3 billion, up 149%.

Its shares opened relatively flat, down 0.19% to $42.75, before sellers took control, dragging the Sonic Healthcare share price down 4.41% to an intraday low of $40.94.

Did the results contain any negative surprises?

Sonic Healthcare said that its financial performance has been enhanced by COVID-19 testing revenue across its ~60 laboratories around the world.

The business flagged that COVID-19 PCR volumes were lower in the second half of the year versus the first half.

In the new financial year, it cited that volumes have been increasing with the spread of the Delta variant.

Looking ahead, the company said that it is not providing any earnings guidance for FY22 due to “COVID-19 related unpredictability”.

Encouragingly, the company’s base business (excluding COVID testing) grew by 6% versus FY20 and by 4% compared to FY19.

Sonic Healthcare highlighted that its base business “has become increasingly resilient to impacts of pandemic waves and benefits from geographical and business diversification”.

That said, the volatility in COVID-19 testing revenues could be the catalyst behind today’s selloff.

Another thing to consider is that the Sonic Healthcare share price closed at record all-time highs last Friday, 20 August.

Investors might be using today’s news as an opportunity to take profits, despite what looks like an encouraging full-year result.

The post Sonic Healthcare (ASX:SHL) share price down 3% despite surging FY21 profits appeared first on The Motley Fool Australia.

More reading

• ASX 200 midday update: NIB sinks and Sonic falls on full year results
• Sonic Healthcare (ASX:SHL) share price on watch after 149% profit boost in FY21
• 5 things to watch on the ASX 200 on Monday
• How did the Sonic Healthcare (ASX:SHL) share price respond last earnings season?
• 2 high quality ASX dividend shares named as buys

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 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 Noxopharm Ltd (ASX: NOX) share price has been a strong performer on Monday.

The clinical-stage drug development company’s shares were up as much as 13% to 63 cents at one stage today.

The Noxopharm share price has since pulled back and is now trading just 3.5% higher at 57.5 cents.

Why is the Noxopharm share price rocketing higher?

The Noxopharm share price was given a big boost this morning from the release of a positive announcement.

That announcement reveals that the company is positioning its Veyonda (idronoxil) product as a COVID-19 treatment. This is based on a well-tolerated and selective anti-inflammatory action.

According to the release, this follows an important discovery about the anti-inflammatory mechanism of action of idronoxil through its partnership with Hudson Institute of Medical Research.

The release reveals that the discovery is the identification of the enzyme, TANK-binding kinase 1 (TBK1), as the molecular target of idronoxil in terms of its anti-inflammatory properties.

However, it is worth noting that the discovery is not yet peer reviewed in a scientific publication. A submission is anticipated in two months.

Management commentary

The Hudson Institute’s Associate Professor and Head of the Nucleic Acids and Innate Immunity Laboratory, Michael Gantier, said: “TBK1 is a point of convergence of many inflammatory pathways, and a target under significant investigation by several big pharmaceutical companies. Our latest findings, which are being prepared for publication, demonstrate that idronoxil may have applications in a range of diseases where TBK1 facilitates aberrant inflammation.”

“Critically, TBK1 also directly controls production of interferon-beta, a cytokine associated with long-COVID symptoms. This suggests that idronoxil may not only be useful to prevent progression of COVID-19 patients from mild to severe disease, but also may decrease the risk of long-lasting post-infectious symptoms, seen in up to half of COVID-19 patients,” he added.

The Noxopharm share price is up 22% since the start of the year.

The post Noxopharm (ASX:NOX) share price jumps 13% on COVID treatment update appeared first on The Motley Fool Australia.

More reading

• Sonic Healthcare (ASX:SHL) share price down 3% despite surging FY21 profits
• The Wesfarmers (ASX:WES) share price is up 28% in 2021. Here’s why
• ASX 200 midday update: NIB sinks and Sonic falls on full year results
• Why the MetalsTech (ASX:MTC) share price is soaring 15% today
• IGO (ASX:IGO) share price climbs on lithium production update

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 Wesfarmers Ltd (ASX: WES) share price is having a year to remember.

At the time of writing, shares in the retail and industrial conglomerate are trading for $65.65 – down 0.61%. The S&P/ASX 200 Index (ASX: XJO), meanwhile, is 0.11% higher.

Since the beginning of the year, Wesfarmers shares are 30% higher. Compared to the ASX 200, which is up 11.7% year-to-date, it is outpacing the benchmark index.

Let’s take a closer look to see why.

What’s affected the Wesfarmers share price in 2021?

The biggest story of the year, for the Wesfarmers share price and the world at large, has been the COVID-19 pandemic.

In 2021, every state and territory in the country has been in (or, in the case of NSW, Victoria, and the ACT, is in) lockdown as the delta variant runs rampant.

Historically, consumer staple and retail shares have done well during lockdown. The theory is stay-at-home orders limit people’s options on what they can spend their money on.

Wesfarmers’ brands like Kmart, Officeworks, and Bunnings, are considered essential and can operate under stay-at-home orders – either through ‘click and collect’ services or in-store shopping.

What else?

Besides Covid, there are other factors that probably had a material impact on the Wesfarmers share price. Specifically, they relate to acquisitions and diversification.

On the acquisition front, in April, Wesfarmers’ subsidiary Bunnings announced the purchase of Beaumont Tiles for an undisclosed amount.

At the time, Bunnings Managing Director Mike Schneider said the purchase of Beaumont will allow the company to expand into further market segments.

Beaumont Tiles services both trade and consumer customers and has a specialised product and service capability that is not able to be offered through the Bunnings Warehouse format.

More recently, Wesfarmers launched its bid to buy 100% of shares in Australian Pharmaceutical Industries Ltd (ASX: API). API is the owner of retail pharmacy brand Priceline. The offer of $1.38 per share was rebuffed by API.

In a statement, the board said the Wesfarmers bid was opportunistic and undervalued the company. In August, reports emerged Wesfarmers renewed its interest in the company and was considering upping its offer. This saw the Wesfarmers share price rise.

Finally, Wesfarmers announced plans to further diversify the business in 2021. In July, the company declared it’s lithium mine in Western Australia was approved by the state government.

In August, it announced a partnership with Jemena for the transportation of green hydrogen. It seems Wesfarmers may see potential in the green energy sector.

Wesfarmers share price snapshot

Over the past 12 months, the Wesfarmers share price has increased 34.6%. It’s outperformed the ASX 200 by around 11 percentage points in that time.

Wesfarmers has a market capitalisation of $74.9 billion.

The post The Wesfarmers (ASX:WES) share price is up 28% in 2021. Here’s why appeared first on The Motley Fool Australia.

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• ASX 200 Weekly Wrap: Miners drag ASX back to earth
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• Could it be time to consider buying Wesfarmers (ASX:WES) shares?
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• The Wesfarmers (ASX:WES) share price could offer good dividend income

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 owns shares of and has recommended Wesfarmers Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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At lunch on Monday, the S&P/ASX 200 Index (ASX: XJO) is on course to record a small gain. The benchmark index is up 0.15% to 7,473.1 points.

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

Sonic Healthcare full year results fall short of lofty expectations

The Sonic Healthcare Limited (ASX: SHL) share price is tumbling lower following the release of its full year results. For the 12 months ended 30 June, Sonic Healthcare delivered a 28% increase in revenue to $8.8 billion and a 149% lift in net profit to $1.3 billion. This was driven largely by strong demand for COVID-19 testing services. As strong as this result was, it fell a touch short of the market’s expectations. Goldman Sachs was forecasting revenue of $9,352 million and net profit of $1,327 million.

NIB shares sink on full year results

The NIB Holdings Limited (ASX: NHF) share price is falling heavily today after its full year results fell short of expectations. NIB reported a 2.9% increase in revenue to $2.6 billion and an 84.5% lift in net profit after tax to $160.5 million. A note out of Goldman Sachs reveals that it was expecting the private health insurer to report a 92.2% increase in net profit after tax to $171.4 million.

Ampol half year update and acquisition news

The Ampol Ltd (ASX: ALD) share price is falling following the announcement of its half year results and a major acquisition. Although the fuel retailer delivered strong first half profit growth, its outlook appears to have spooked investors. Management warned that lockdowns were impacting fuel and convenience sales in July and August. Ampol also revealed that it has made a non-binding indicative proposal to acquire Z Energy Ltd (ASX: ZEL) for NZ$3.78 cash per share. This values Z Energy’s equity at NZ$2 billion.

Best and worst ASX 200 performers

The best performer on the ASX 200 on Monday has been the Nearmap Ltd (ASX: NEA) share price with an 8% gain. This is despite there being no news out of the aerial imagery technology and location data company since its full year results last Wednesday. The worst performer on the ASX 200 has been the NIB share price with a 10% decline. This follows the release of its full year results.

The post ASX 200 midday update: NIB sinks and Sonic falls on full year results appeared first on The Motley Fool Australia.

More reading

• NIB (ASX:NHF) share price sinks 11% despite profit surge
• Ampol (ASX:ALD) share price sinks on half year results and acquisition news
• Sonic Healthcare (ASX:SHL) share price on watch after 149% profit boost in FY21
• ASX 200 Weekly Wrap: Miners drag ASX back to earth
• 5 things to watch on the ASX 200 on Monday

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 Nearmap Ltd. The Motley Fool Australia owns shares of and has recommended Nearmap Ltd. The Motley Fool Australia has recommended NIB Holdings Limited and 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 MetalsTech Ltd (ASX: MTC) share price is rallying in late morning trade following a positive move by its directors.

At the time of writing, the gold explorer’s shares are up 15.38% to 23 cents. In comparison, the All Ordinaries Index (ASX: XAO) is up 0.1% to 7,734 points.

What happened?

According to its release, MetalsTech advised that between 17 August and 20 August, a number of directors bought more shares in the company.

Geosmart Consulting, an entity in which MetalsTech director Dr Qingtao Zeng is also a director, purchased 75,000 shares on-market. This is for a total cash consideration of $15,000. In addition, Dr Zeng picked up another 50,000 shares for $10,000 to add to his own personal holding.

Natres Services, an entity of which MetalsTech chair Russell Moran is a director, bought 228,803 shares on market. The value of this purchase is for a total amount of $44,867.

And lastly, Internatzionale Trust, an entity of which MetalsTech director Gino D’Anna is a director, obtained 40,000 shares on market for $7,830.

No doubt, the latest purchases from each of the directors has transformed into positive sentiment for investors. Traditionally, when a company’s owners or directors take part in buying more shares, it is a sign of good things to come.

MetalsTech chair, Russell Moran commented:

MetalsTech is well funded having received $6.7 million in cash from Lithium Royalty Corp in July and drilling is expected to commence imminently at the 1.5Moz Sturec Gold Mine. The company is not in a ‘blackout period’ under its securities trading policy so the board and its related parties were happy to capitalise on the opportunity to purchase more MTC shares.

About the MetalsTech share price

Over the last 12 months, MetalsTech shares have gained around 7%, with year-to-date up almost 10%. The company’s share price hit a 52-week high of 34.5 cents in early June, before treading lower due to profit-taking.

Based on today’s price, MetalsTech presides a market capitalisation of roughly $35.7 million, with 158 million shares on its registry.

The post Why the MetalsTech (ASX:MTC) share price is soaring 15% today appeared first on The Motley Fool Australia.

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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 IGO Ltd (ASX: IGO) share price has jumped out of the starting blocks from the opening of trade on Monday.

IGO shares are on the move as the mining company released an announcement before the open.

Let’s investigate further.

What did IGO announce?

IGO advised that its Kwinana lithium hydroxide refinery has “produced its fist lithium hydroxide chemical product”.

Recall that IGO owns a 49% interest in Kwinana through an “incorporated joint venture (JV)” with Tianqi Lithium Corporation.

The JV also grants IGO exposure to the Greenbushes mine, “the largest, highest-grade lithium mine in the world” as per the announcement. This exposure comes in the form of a 25% “indirect interest” in the mine.

Moreover, with the “first lithium hydroxide production now demonstrated”, IGO intends to turn its first production train (Train 1) “on a continuous, rather than batch basis”.

IGO expects the “saleable product” will be produced by the back end of 2021. Further, it expects “battery-grade production for accreditation by customers” will be ready by the “March 2022 quarter”, as per the company.

Furthermore, the commissioning of Train 1 “has progressed at a pace over recent months”. The commissioning program sees each of the “individual unit processes” sequentially commissioned.

Train 1 is expected to “progressively ramp up” to the design production rate of “24kpta lithium hydroxide by the end of 2022”.

Investors have pushed the IGO share price higher on the back of this news.

IGO shares are now exchanging hands at $9.23 apiece, a 4.77% jump into the green from the open.

What did management say?

IGO managing director and CEO Peter Bradford said:

We are therefore delighted to have achieved this first important step in the commissioning of Train 1 and to have done so ahead of the internal schedule developed earlier this year. We congratulate the Kwinana team on this milestone and their progress over the last few months.

Bradford also added:

The strong demand being witnessed in the lithium market globally reinforces the strategic nature of Kwinana which, together with the Lithium JV’s interest in the Greenbushes mine, is rapidly evolving into a globally significant, integrated lithium operation catering to the specific needs of premium lithium-ion battery manufacturers.

IGO share price snapshot

The IGO share price has climbed 43% into the green since January 1, extending the previous 12 months’ gain of 105%.

Despite this, IGO shares are 7.5% in the red over the past week.

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

The post IGO (ASX:IGO) share price climbs on lithium production update 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 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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