The Alexium International Group Ltd (ASX: AJX) share price is surging on Thursday after the company released a sales update.

At the time of writing, Alexium shares are up 34.72% to 9.7 cents. However, they are currently in a pause in trading, pending a further announcement.

The company is a producer of advanced cooling and fire-resistant textiles. It focuses on consumer market segments such as bedding, clothing and sporting goods.

What did Alexium announce?

Last year, Alexium rebranded its proprietary biobased and biodegradable phase change materials (PCM) as BioCool.

According to today’s announcement, BioCool has made strong progress in adoption and sales.

Alexium said BioCool product sales have risen to 48% of the company’s total product sales for mattresses, including textile and foam applications.

Alexium Vice President Chris Crawford said of the progress: “Market reception to our BioCool product line has been very positive, and we are encouraged by the rapid adoption from our current customers.”

The positive sales update has seen strong buying activity and a rise in the Alexium share price. It has rallied from a 7.7 cents open to 9.7 cents at the time of writing.

What’s next for Alexium?

Alexium is targeting a number of initiatives to drive revenue growth this year.

The company said initial sales have been focused on the textiles market and migrating existing bedding textile customers to BioCool products.

The company believes the “demonstrable all-round superior characteristics” of BioCool products will make it an attractive proposition for other textile applications including foam bedding applications.

About the Alexium share price

Alexium has a market capitalisation of just $46 million.

The micro cap logged some significant gains in the past month, lifting 30% on 23 July from 4.9 cents to 6.4 cents.

Alexium shares are surging on Thursday, on the back of approximately 16.35 million shares changing hands by lunchtime.

This compares to the company’s 10-day average volume of approximately 5.52 million.

The post Alexium (ASX:AJX) share price rockets 34% on sales update appeared first on The Motley Fool Australia.

More reading

• Here’s why the Alexium (ASX:AJX) share price surged 9% 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 Zip Co Ltd (ASX: Z1P) share price hasn’t exactly made a reputation for itself as a ‘steady’ stock.

Just take Zip shares’ 52-week range. Over the past 12 months, the buy now, pay later (BNPL) company has traded at a share price of between $4.96 and $14.53. That’s a difference of almost 200%.

As it stands today, the Zip share price is currently up 0.77% to $7.88.

But when was Zip’s best day for shareholders in 2021 so far?

Zip-a-Dee-Doo-Dah

The best day (actually, two days) for the Zip Co share price in 2021 was back on 15 and 16 February. The price soared by more than 13% on 15 February at one point. And by more than 16% on 16 February.

That was the date Zip’s current 52-week (and all-time) high of $14.53 a share was hit. In the month to 16 February, the Zip share price ended up putting on an incredible 148%.

The speed of this run-up actually prompted the ASX to issue a speeding ticket to Zip at the time. Zip was forced to tell the ASX that it wasn’t aware of any reason why its shares were so ‘in demand’ over the preceding few days.

As you might have gathered, this incredible run was not to last. The Zip share price fall ended up being just as steep as its climb.

Between 16 February and 30 March, Zip went on to lose roughly half of its share price value. By May, the shares had fallen back under $7.00 a share.

Over the rest of the year to date, Zip has been far more muted, more or less trading in the $6.50-$8.00 range.

Although saying that, Zip has been on another run recently, rising almost 20% in August so far.

Could the Zip share price be a buy today?

As my Fool colleague James covered earlier this week, one broker who thinks there is still some gas left in the tank with Zip shares is Citi.

Citi retained its ‘buy’ rating on Zip this month and kept its $8.90 price target. This implies a potential upside of 13% from current pricing.

As James covered at the time, Citi listed the recent news that Zip’s BNPL rival Afterpay Ltd (ASX: APT) is working on a merger with the US payments giant Square Inc (NYSE: SQ) as a positive for Zip shares.

It noted that it raises the potential takeover appeal of Zip, even though it also thinks competition in the BNPL space is heating up.

At the current Zip Co share price, the company has a market capitalisation of $4.44 billion.

The post When was the best day on the Zip (ASX:Z1P) share price chart in 2021? appeared first on The Motley Fool Australia.

More reading

• Up 20% in 10 days: Can the Zip (ASX:Z1P) share price keep rising?
• Afterpay and Zip were among the most traded ASX shares last week
• Here are the 10 top moving ASX shares on Monday
• How did the Zip (ASX:Z1P) share price respond last earnings season?
• These are the 10 most shorted ASX shares

Motley Fool contributor Sebastian Bowen owns shares of Square. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended AFTERPAY T FPO, Square, and ZIPCOLTD FPO. The Motley Fool Australia owns shares of and has recommended AFTERPAY T FPO. 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 DroneShield Ltd (ASX: DRO) share price is flying higher today following a positive release by the drone technology company.

During early afternoon trade, DroneShield shares are up 7.32% to 22 cents. In comparison, the All Ordinaries Index (ASX: XAO) is marginally up 0.1% to 7,864 points.

What did DroneShield announce?

Investors appear upbeat about the company’s prospects, sending DroneShield shares higher.

According to its release, DroneShield said that it had received a $1.1 million grant award from the Australian government. The cash payment is recognised as a research and development tax incentive for its activities undertaken in 2020.

DroneShield CEO, Oleg Vornik touched on the award, saying:

DroneShield appreciates the substantial support it receives from the Australian Government at Federal and State level. We are a high-tech defence and homeland security business, employing over 30 engineers in Australia presently, and rapidly growing. This grant reflects the world-class cutting-edge R&D work done here in Australia.

The company noted that the grant will be reflected in the cash receipts for its third-quarter report. This is expected to be released sometime in October 2021.

Quick take on DroneShield

A global leader in drone security technology, DroneShield designs and develops detection systems that use specialised technology to protect people, organisations and critical infrastructure from drones.

Its multi-layered drone countermeasures include detection and disruption products which are much needed in the current environment.

DroneShield share price snapshot

It has been a positive 12 months for DroneShield shareholders, with the company’s shares up 60%. However, during this time, the DroneShield share price has been volatile, moving between 13 cents and 25 cents.

Recently, its shares were trading for as little as 15 cents in early July and are now 22 cents. This reflects a gain of almost 50% in the space of just over a month.

DroneShield presides a market capitalisation of roughly $87.7 million, with approximately 400 million shares on its registry.

The post Why the DroneShield (ASX:DRO) share price is soaring 7% today appeared first on The Motley Fool Australia.

More reading

• Why the Adacel (ASX:ADA) share price is rocketing 39% today
• The Crown (ASX: CWN) share price lifts after last-ditch licence push
• ASX tech shares lagging the ASX 200 on Thursday
• The Creso Pharma (ASX:CPH) share price is frozen today. Here’s why
• Here’s why the Antipa Minerals (ASX:AZY) share price is moving higher today

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 recommended DroneShield Ltd. The Motley Fool Australia has recommended DroneShield 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 Adacel Technologies Limited (ASX: ADA) share price has been a very strong performer on Thursday following the release of its full year results.

In morning trade, the air traffic management software company’s shares were up as much as 39% to a 52- week high of $1.43.

Adacel share price rockets after doubling its profits

• Revenue increased 1.1% to $40.2 million
• Gross margin expanded by almost 5 percentage points to 40.1%
• Earnings before interest, tax, depreciation and amortisation (EBITDA) up 117.6% to $9.8 million.
• Net profit after tax jumped 101.7% to $7.3 million
• Final unfranked dividend per share doubled to 3.25 cents, bringing full year dividend to 6 cents per share (up 140% year on year)
• FY 2022 guidance: Profit before tax growth of up to 5.2%

What happened in FY 2021 for Adacel?

As you might have guessed from the Adacel share price reaction, FY 2021 was a significant improvement on a difficult prior period. This was thanks to a strong performance from its Systems segment, which offset a slightly weaker performance by its larger Services segment.

During FY 2021, revenues in its Systems segment increased by 25.9% from $9.7 million to $12.3 million. This was driven by a higher number of systems implemented, including the delivery of additional Air Traffic Control Common Simulators (ACS) units to the US Army.

The Services segment, which comprises all recurring revenue, including software maintenance and all aspects of system support, field services, and on-site technical services, saw its revenue fall from $30 million to $28 million. This was driven largely by foreign exchange headwinds. But thanks to improvements in its margins, the impact on its earnings wasn’t as great.

What did management say?

Adacel’s CEO Daniel Verret said: “This was a remarkable year in many regards. Unprecedented unknowns due to COVID-19, major business adjustments to sustain productivity while working remotely, quick development of creative solutions to support our commitments, successful delivery of significant projects, and a remarkably strong business output by the company.”

“We are pleased to report on our strong financial performance for FY2021 and delivered improved financial performance across all major financial indicators,” he added.

What’s next for Adacel?

In FY 2022, the company intends to begin reporting in US dollars. Management believes this will provide a more relevant representation of the company’s financial position in comparison to its peers.

With that in mind, the company is guiding to profit before tax of US$5.7 million to US$6 million in FY 2022. This represents growth of 0% to 5% on FY 2021’s profit before tax of US$5.7 million.

Adacel’s Chairman, Michael McConnell, commented: “In late FY 2019, we outlined our strategy to focus on the Company’s core businesses and customers supported by the implementation of a set of management disciplines and metrics to drive operational efficiency and accountability.”

“Today, we reported continued execution against those basic principles and improvement in financial performance.”

“Having solidified Adacel’s operational, product, and financial foundation, this year we will invest in our sales capabilities to drive future growth. Moreover, we will continue to drive shareholder returns through our balanced capital management strategy, including dividends, share buybacks, and potential M&A activity,” he added.

Adacel share price continues to outperform

Following today’s gain, the Adacel share price is now up a whopping 150% over the last 12 months. This compares very favourably to a strong 25% gain by the All Ordinaries over the same period.

The post Why the Adacel (ASX:ADA) share price is rocketing 39% today appeared first on The Motley Fool Australia.

More reading

• The Crown (ASX: CWN) share price lifts after last-ditch licence push
• ASX tech shares lagging the ASX 200 on Thursday
• The Creso Pharma (ASX:CPH) share price is frozen today. Here’s why
• Here’s why the Antipa Minerals (ASX:AZY) share price is moving higher today
• ASX 200 midday update: Telstra, NAB, & QBE results

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 Crown Resorts Ltd (ASX: CWN) share price is gaining today after the company made a last-ditch attempt to convince regulators to allow it to keep its Victorian casino licence.

Within its final submission to the Victorian Royal Commission into the casino operator, Crown stated the company’s licence benefited both the Victorian Government and the community.

Right now, the Crown share price is $9.21, 4.84% higher than its previous close.

Let’s take a closer look at Crown’s plea for its licence and what may happen to the Melbourne Casino Complex if the company fails to retain it.

Crown’s last resort

The Crown share price is gaining today following the company’s final submission to the Victorian Royal Commission.

The company’s latest argument is if it loses its casino licence, it would be forced to sublet the casino on Melbourne’s South Bank. According to Crown, that would make the complex less profitable and less enjoyable for visitors.

Within the submission, Crown stated:

[D]is-integration of the integrated resort would be more likely to result in reduced casino tax, significant inefficiencies, an inferior offering for customers and employees and a substantially diminished offering to tourism and the State of Victoria.

Crown currently holds a 99-year lease on the property. This means it would have to sublet the gaming segment to a competitor if it were unable to operate it.

However, Crown would still be able to operate all non-casino parts of the complex. Aside from the casino itself, the Melbourne Casino Complex houses hotels, restaurants, retail stores, residential and office accommodation, open space areas, and entertainment and recreation facilities.

While it looks like a desperate attempt to save skin, this might be good news for the Crown share price. It has reinforced that if the company loses its casino licence, it may still draw a profit from the complex. Albeit, a smaller return than its current profit.

According to a report in the Australian Financial Review last week, royal commissioner Ray Finkelstein has responded to such arguments before.

He has previously acknowledged there would be an adjustment period if another casino operator were to step in. However, the business is profitable and would continue to operate without major long-term impacts on Victoria as a whole.

Crown share price snapshot

Today’s gains aren’t enough to boost the Crown share price out of the red in 2021.

It has fallen 7% since the start of this year. It is also 1% lower than it was this time last year.

The company has a market capitalisation of around $5.9 billion, with approximately 677 million shares outstanding.

The post The Crown (ASX: CWN) share price lifts after last-ditch licence push appeared first on The Motley Fool Australia.

More reading

• Crown (ASX:CWN) share price edges higher despite Victorian lockdown
• Crown (ASX:CWN) share price gains as Coonan plans to step down
• Crown (ASX:CWN) share price up despite Crown Melbourne CEO exiting
• ASX 200 Weekly Wrap: ASX grinds to a halt following new all-time high
• These were the worst performing ASX 200 shares in July

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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Heading into the backend of Thursday, the S&P/ASX 200 Index (ASX: XJO) is slightly above yesterday’s closing price. While the broader market is holding above breakeven, ASX tech shares are not enjoying the same fate.

At the time of writing, the benchmark index is 0.06% higher to 7,588.7 points. Here’s how the market is panning out on Thursday:

ASX tech shares a mixed bag

The ASX has been setting new records over the past few weeks, but Thursday is looking a little less predictable for another gain.

While the index is currently in the green, not all sectors are moving in the same direction in today’s session. Some of the ASX 200’s strongest performers include QBE Insurance Group Ltd (ASX: QBE), Downer EDI Limited (ASX: DOW), and Telstra Corporation Ltd (ASX: TLS) on the back of reporting.

Meanwhile, ASX 200 tech shares are struggling to find the same optimism from investors. The sector is 0.7% lower with Afterpay Ltd (ASX: APT) and Xero Limited (ASX: XRO) dragging into the red. In particular, Xero shareholders have been selling off the accounting software company following its annual general meeting. The ASX tech share guided for operating expenses to range between 80% to 85% of operating revenue in FY22.

Reporting season in full swing

Thursday morning has been jampacked with ASX action. Australian big-name shares such as AMP Ltd (ASX: AMP), AGL Energy Limited (ASX: AGL), and Telstra have dealt their full-year results. Currently, the Telstra share price is up by 4.05%.

While we are very much in the midst of the reporting season, a large portion of ASX shares are set to report towards the tail end of August. Some of these companies include our ASX tech staples, such as Altium Limited (ASX: ALU) and Appen Ltd (ASX: APX). Don’t forget to check out our ASX reporting calendar to stay up to date.

The post ASX tech shares lagging the ASX 200 on Thursday appeared first on The Motley Fool Australia.

More reading

• ASX 200 midday update: Telstra, NAB, & QBE results
• Xero (ASX:XRO) share price edges lower after annual meeting
• 5 things to watch on the ASX 200 on Thursday
• Here are 3 of the most heavily traded ASX 200 shares today
• ASX 200 rises, CBA climbs after FY21 report, Iress jumps

Motley Fool contributor Mitchell Lawler owns shares of AFTERPAY T FPO and Appen Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended AFTERPAY T FPO, Altium, Appen Ltd, and Xero. The Motley Fool Australia owns shares of and has recommended AFTERPAY T FPO, Altium, Appen Ltd, Telstra Corporation Limited, and Xero. 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 Creso Pharma Ltd (ASX: CPH) share price isn’t going anywhere on Thursday. This comes after the cannabis and psychedelics company requested a trading halt in the minutes during market open.

As such, Creso Pharma shares are frozen at 13 cents apiece. It’s worth noting the company’s shares have gained 13% in the past week.

Why are Creso Pharma shares in a trading halt?

Creso Pharma shares were placed in a trading halt this morning pending an important announcement from the company.

In a statement to the ASX, Creso Pharma said the announcement is regarding the receipt of a material licence from Health Canada.

While no further details have been given, Creso Pharma’s wholly-owned subsidiary, Mernova, was yesterday granted a licence extension to sell medicinal cannabis in Canada.

The news sent the Creso Pharma share price as high as 14 cents, however some profit taking occurred. Its shares ended the day 4% higher at 13 cents.

The green light allows Mernova to expand its sales base by entering the medicinal cannabis market in Canada. In May 2020, the company had received a recreational market licence from Health Canada.

Under the new licence, Mernova can sell its products directly to consumers who are licenced to obtain cannabis for medical purposes. In the past, Health Canada had only allowed the company to sell its medicinal products through wholesalers.

The shares will remain in pre-open until an official announcement is made or the start of trade on Monday 16 August, the company said.

Creso Pharma share price summary

Since this time last year, the Creso Pharma share price has risen sharply by more than 200%. However, in 2021, the company’s shares paint a different picture for investors, down almost 30%.

Creso Pharma has a market capitalisation of roughly $155.5 million with approximately 1.2 billion shares on its registry.

The post The Creso Pharma (ASX:CPH) share price is frozen today. Here’s why appeared first on The Motley Fool Australia.

More reading

• Here’s why the Creso Pharma (ASX:CPH) share price is up 8% today
• Here’s why the Creso Pharma (ASX:CPH) share price is up 7%
• Why the Creso Pharma (ASX:CPH) share price is soaring 9% higher today
• Here’s why the Creso Pharma (ASX:CPH) share price is surging 15% higher

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 Antipa Minerals Ltd (ASX: AZY) share price is marching higher today, up 1% after earlier posting gains of more than 4%.

Below we take a look at what’s driving investor interest in the ASX resource explorer.

What did Antipa announce?

The Antipa share price is gaining today after the company reported more high-grade gold results at its 100% owned, Minyari Dome Project in Western Australia.

The company has received assays from 11 drill holes. Among the highlighted results, one of the drill holes returned copper and gold intersections including:

28.0m at 1.63 grams per tonne of gold and 0.18% copper from 161.0 metres down hole including:

– 14.0m at 2.67 g/t gold and 0.32% copper from 173.0m, also including:

• 0m at 4.11 g/t gold and 0.38% copper from 176.0m; and
• 0m at 7.88 g/t gold and 0.40% copper from 186.0m

Antipa reported it has now completed 21,400 metres of Resource infill, Resource extensional and brownfield discovery in its Phase 1 drilling campaign. It’s still awaiting assays for 14,000 metres.

Commenting on the new results, Antipa’s managing director, Roger Mason said:

Resource definition drilling continues to intersect strong gold mineralisation over wide intervals which will support a revised resource estimate and project development studies.

At Minyari, high‐grade gold and copper mineralisation has been intersected along 500 metres of strike, down to 600 metres below the surface and across a horizontal width of up to 275 metres, and mineralisation remains open in several directions.

Mason said the company’s Phase 2 drill program has been expanded towards resource extension targets. Those include Minyari East and “a number of high priority greenfield targets”.

These are all within 3 kilometres of Antipa’s existing Minyari and WACA resources.

The company currently has 3 drill rigs on site and expects its Phase 2 drill program to finish in October.

Antipa Minerals share price snapshot

The Antipa Minerals share price is up 23% over the past 12 months, largely in line with the 25% gains posted by the All Ordinaries Index (ASX: XAO).

Year-to-date the Antipa Minerals share price is also up 23%.

The post Here’s why the Antipa Minerals (ASX:AZY) share price is moving higher today appeared first on The Motley Fool Australia.

More reading

• Why the Antipa Minerals (ASX:AZY) share price is surging today

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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At lunch on Thursday, the S&P/ASX 200 Index (ASX: XJO) is on course to record a small gain. The benchmark index is currently up a few points to 7,587.9 points.

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

Telstra shares hit 52-week high following results

The Telstra Corporation Ltd (ASX: TLS) share price climbed to a new 52-week high this morning following the release of its full year results. Investors have been bidding the Telstra share price higher after the telco giant achieved its FY 2021 guidance, maintained its dividend, and announced a $1.35 billion on-market share buyback. Also getting investors excited was management’s positive outlook. It is guiding to underlying EBITDA growth of 4.5% to 9% in FY 2022.

NAB Q3 update

The National Australia Bank Ltd (ASX: NAB) share price is trading flat today following the release of its third quarter update. According to the release, the banking giant reported an unaudited statutory net profit of $1.65 billion and unaudited cash earnings of $1.70 billion for the quarter. This was broadly in line with the quarterly average achieved during the first half of FY 2021.

QBE half year results impress

The QBE Insurance Group Ltd (ASX: QBE) share price is storming higher after investors responded positively to its strong first half result. The insurance giant returned to form in the first half and reported strong gross written premium (GWP) and profit growth. QBE achieved GWP growth of 26.9% to US$10,203 million and an adjusted cash profit after tax of US$463 million. The latter compares to a US$66 million loss in the prior corresponding period.

Best and worst ASX 200 performers

The GrainCorp Ltd (ASX: GNC) share price is the best performer on the ASX 200 on Thursday with a 14% gain. This morning the integrated grain and edible oils company upgraded its guidance. The worst performer has been the Rio Tinto Limited (ASX: RIO) share price with a 7% decline. This morning the mining giant’s shares went ex-dividend.

The post ASX 200 midday update: Telstra, NAB, & QBE results appeared first on The Motley Fool Australia.

More reading

• QBE (ASX:QBE) share price up 7% after dividend boost
• Telstra (ASX:TLS) share price lifts off after dividend announcement
• Everything to know about the Telstra (ASX:TLS) $1.35bn share buyback
• Why GrainCorp, Myer, QBE, & Telstra shares are storming higher
• GrainCorp (ASX:GNC) share price jumps 12% on guidance upgrade

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 owns shares of and has recommended Telstra Corporation 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 BHP Group Ltd (ASX: BHP) share price is marginally down as Bloomberg reports a group of shareholder activists are pushing the multinational mining giant to keep and close its fossil fuel assets rather than sell them.

BHP confirmed last month it was looking to exit the oil and gas sector. Woodside Petroleum Limited (ASX: WPL) is the rumoured front runner to acquire these assets globally.

At the time of writing, the BHP share price is trading at $52.61 – up 0.17%. The S&P/ASX 200 Index (ASX: XJO), meanwhile, is 0.04% higher.

Let’s take a closer look.

“Companies…can no longer get away with green-washing”

Market Forces, a group that aids shareholders in pushing companies on climate change, has tabled a resolution for the annual general meeting (AGM) on behalf of 100 small investors to “wind down production (of fossil fuels) in line with international targets” rather than sell them to other businesses.

In a statement, the group said:

By providing a leading example of responsibly managing down fossil fuel assets, BHP can preserve and realise the genuine value that exists in these assets, align with global climate goals, and support its workers in the transition to a decarbonised economy.

BHP has already begun divesting from thermal coal, with the first deals announced in late June. The BHP share price fell 0.87% on the day this news was announced.

Climate activists previously wanted companies like BHP to sell their high polluting assets. They have changed course over concerns buyers will be less transparent than the original owner, according to Bloomberg.

As well, by selling the assets instead of shutting them down, they will still emit greenhouse gases – it just won’t be on the books of the sellers.

Combined, these shareholders make up less than 0.01% of the ownership of BHP’s ASX shares and less than 0.006% of the entire company. BHP is also listed on the London Stock Exchange. BHP’s board will respond to the resolution before the AGM.

BHP share price snapshot

Over the past 12 months, the BHP share price has increased 31.8%. The ASX 200 is up 23.8% over the same time.

BHP has a market capitalisation of around $244 billion.

The post BHP (ASX:BHP) share price lifts amid activist calls to halt fossil fuel asset sales appeared first on The Motley Fool Australia.

More reading

• How do you value the BHP (ASX:BHP) share price?
• 2 high yield ASX dividend shares analysts rate as buys
• How does the Rio Tinto (ASX:RIO) dividend compare to the materials sector?
• 2 ASX 200 dividend shares named as buys
• BHP (ASX:BHP) share price struggles amid renewed climate pressure

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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