The Telstra Corporation Ltd (ASX: TLS) share price ended Wednesday’s trading session in the green amid a sea of red. That’s after the company launched its mobile tower infrastructure business, Amplitel.

At market close, shares in Australia’s largest telco finished at $3.89 – up 1.3%. The S&P/ASX 200 Index (ASX: XJO), meanwhile, closed 0.21% lower.

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

Telstra’s new business

Telstra restructured its business in order to enable the $2.8 billion sale of a 49% interest in its tower business.

At the time, Telstra said it would return 50% of the proceeds to shareholders and use the remaining half for debt reduction. When the company delivered its full-year results, Telstra announced an 8-cents per share dividend (16 cents full-year) and a $1.35 billion on-market share buyback. The buyback is because of the recent sale.

In today’s announcement, Telstra revealed the name of the new infrastructure business that it retains a 51% stake in – Amplitel. Telstra says the name is a hybrid of “amplify” and “Telstra”. The company says it “reflect(s) our history and the increasing importance of our infrastructure that provides the foundation for wireless connectivity in this country”.

Telstra also called today’s announcement the “most significant change since privatisation”. This news may have excited investors, judging by the rise in the Telstra share price.

What are brokers saying?

As The Motley Fool has previously reported, Telstra is seen as a buy by many analysts. Part of the reason for this is Telstra’s “T22 strategy” to make the company leaner and more efficient. The partial sale of its tower business was essential to this.

Telstra CEO Andy Penn is targeting mid to high single-digit operating earnings growth in FY 2022. He is then targeting further growth in FY 2023.

Analysts at Morgans are calling Telstra a buy and are tipping the Telstra share price to hit $4.34. It also expects 16 cents per share fully franked dividends in FY 2022 and FY 2023.

Telstra share price snapshot

Over the past 12 months, the Telstra share price has increased 37.1%. It’s outperformed the ASX 200 by about 11 percentage points. Year-to-date, the company’s shares have risen around 30%.

Telstra has a market capitalisation of approximately $46 billion.

The post Telstra (ASX:TLS) share price rises on official Amplitel launch appeared first on The Motley Fool Australia.

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• Why the Telstra (ASX:TLS) share price has beaten the ASX 200 in the last year
• Top broker names 3 ASX 200 shares to buy
• ASX 200 Weekly Wrap: A mixed bag of earnings dominates ASX
• It hasn’t been a great week for the Telstra (ASX:TLS) share price

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 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 Australian Ethical Investment Limited (ASX: AEF) share price is currently down by around 6%.

It just so happens that Australian Ethical has gone ex-dividend today. However, that dividend was only $0.05 per share, which equates to a yield of 0.5%.

That final dividend came after the ethical fund manager’s FY21 result.

FY21 result

In the FY21, the business generated underlying profit after tax (UPAT) of $11.1 million, an increase of 19%. This was driven by operating revenue increasing by 18% to $58.7 million.

The fund manager’s customer base increased by 23%. The ASX share boasted it remains one of the fastest growing super funds in the country by both the number of members and funds under management.

Australian Ethical generated a performance fee of $2.9 million from investment outperformance by the Emerging Companies Fund. Excluding the outperformance fees, operating revenue growth was 21% and UPAT increased by 30%.

Operating expenses increased by 18% to $43.6 million as the business continues to invest for growth.

One of the key drivers of the result was that group funds under management (FUM) increased by 50% over the year to $6.07 billion, which was helped by investment performance and net inflows of $1.03 billion (56% higher than last year).

In terms of the dividends, the final ordinary dividend was 4 cents per share and a special performance fee dividend of 1 cent per share, bringing the total year dividend to 8 cents per share – an increase of 33%.

What is the outlook for the Australian Ethical share price?

In the short-term, the business is going to focus on improving its investment capability, expanding its product offering, increasing brand awareness, improving the customer experience and increasing the size of its newer customer segments.

In the longer-term, the company believes that the initiatives mentioned above will allow it to leverage the scale of the business and grow profit.

The Australian Ethical CEO John McMurdo said:

The planets are aligning very quickly for Australian Ethical with societal, political and economic tailwinds pointing to a business case for responsible investing that is impossible to ignore. And while we are well positioned – with no debt, strong cashflows and positive momentum – we will be much more ambitious to safeguard and grow our market share in what will be a fiercely contested market in the near term.

The post The Australian Ethical (ASX:AEF) share price is sliding 4%. What’s next? appeared first on The Motley Fool Australia.

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Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Australian Ethical Investment Ltd. The Motley Fool Australia has recommended Australian Ethical Investment 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 Australian Foundation Investment Co Ltd (ASX: AFI) has long held a reputation for being a Listed Investment Company (LIC) that primarily invests in blue chip ASX shares. That’s what you get when you’ve been around since 1928 and don’t change your investing playbook too often.

But it seems as though even an old ship can still change course.

Don’t worry, there’s nothing too radical here. AFIC’s largest positions remain in ASX 200 blue chip shares, according to its latest data. Its top shares still include stalwarts like Commonwealth Bank of Australia (ASX: CBA), BHP Group Ltd (ASX: BHP) and CSL Limited (ASX: CSL).

However, there have been rumours swirling around that AFIC has been looking beyond our shores for its investment horizon. These largely stem from AFIC’s annual general meeting last year.

Well, we just got some proof that the rumours were not entirely unfounded. AFIC has just released its annual report for the 2021 financial year and it contained some very interesting tidbits. AFIC actually announced that it has been investing beyond the ASX in a meaningful way. Here’s what it said:

A small part of our funds, $48 million (which represents approximately 0.5 per cent of the portfolio) was invested into a diversified global equities portfolio during the latter half of the financial year. 

Not only that, but AFIC also disclosed these international shares. And it turns out there are quite a lot of them: 39 in fact.

AFIC takes the plunge on US tech stocks

These companies are mostly US shares, but there are some British, German Fench, Swiss and Chinese companies too. We won’t go through all of them, but here are some of the more prominent names:

• Apple Inc (NASDAQ: AAPL)
• Alphabet Inc Class A (NASDAQ: GOOGL)
• Facebook Inc (NASDAQ: FB)
• Amazon.com Inc (NASDAQ: AMZN)
• Mastercard Inc (NYSE: MA)
• McDonald’s Corp (NYSE: MCD)
• Microsoft Corporation (NASDAQ: MSFT)
• PayPal Holdings Inc (NASDAQ: PYPL)
• Netflix Inc (NASDAQ: NFLX)
• Starbucks Corporation (NASDAQ: SBUX)
• Visa Inc (NYSE: V)
• PepsiCo Inc (NASDAQ: PEP)
• Alibaba Group Holding Ltd (HKG: 9988)
• Unilever plc (LSE: ULVR)
• Nestle SA (SWZ: NESN)

So it’s pretty evident that AFIC is very happy to add some big US blue chip companies to its portfolio, including all of the FAANG stocks, as well as Microsoft. Its exposure to the European consumer staples giants in Nestle and Unilever is also notable, as is its investment in the Chinese e-commerce giant Alibaba.

And although AFIC admits these positions amount to a relatively small proportion of its overall investments, we can probably expect the company to continue to beef up its international portfolio going forward.

At the current AFIC share price of $8.41, this LIC has a market capitalisation of $10.3 billion, and a dividend yield of 2.84%.

The post Own AFIC (ASX:AFI) shares? Then you also own these US tech stocks appeared first on The Motley Fool Australia.

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John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. Teresa Kersten, an employee of LinkedIn, a Microsoft subsidiary, is a member of The Motley Fool’s board of directors. Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to its CEO, Mark Zuckerberg, is a member of The Motley Fool’s board of directors. Motley Fool contributor Sebastian Bowen owns shares of Alphabet (A shares), Facebook, Mastercard, McDonalds, PepsiCo, Starbucks, and Visa. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Alibaba Group Holding Ltd., Alphabet (A shares), Alphabet (C shares), Amazon, Apple, CSL Ltd., Facebook, Mastercard, Microsoft, Netflix, PayPal Holdings, Starbucks, and Visa. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Unilever and has recommended the following options: long January 2022 $1,920 calls on Amazon, long January 2022 $75 calls on PayPal Holdings, long March 2023 $120 calls on Apple, short January 2022 $1,940 calls on Amazon, short March 2023 $130 calls on Apple, and short October 2021 $120 calls on Starbucks. The Motley Fool Australia has recommended Alphabet (A shares), Alphabet (C shares), Amazon, Apple, Facebook, Mastercard, Netflix, PayPal Holdings, and Starbucks. 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 Oz Minerals Limited (ASX: OZL) share price has rallied 7.82% in the past week thanks to a rebound in copper prices.

OZ Minerals is one of the largest ASX-listed copper players, forecast to produce 120,000 to 145,000 tonnes of copper in 2021.

Copper price rises on demand optimism

Copper prices have been range bound for the past 6 months, after breaking above US$4/lb in late February.

The move above US$4/lb marked a 10-year high for the metal.

Copper prices have since been trading between lows of US$3.9/lb and highs of US$4.8/lb.

The price of copper tumbled to a 6-month low of US$3.95/lb on 19 August.

This selloff broadly coincided with the Oz Minerals share price hitting a 6-month low of $20.04.

Copper prices have since bounced back as China continues to show appetite for the metal.

According to an article featured on Mining.com, “There are also signs that the slump in prices last week is enticing consumers back to the market, while simultaneously discouraging suppliers of copper scrap from making sales.”

The article quoted ratings agency S&P Global which said “Copper prices are expected to be supported by the potential for near-term supply disruptions in Chile, a recovery in ex-China demand and indications of continued Chinese government support for the economy and employment”.

What’s the outlook for Oz Minerals?

The Oz Minerals share price has so far been a solid performer in 2021, up 24% year-top-date.

Looking ahead, the company is looking to lift production at its key copper producing projects, Prominent Hill and Carrapateena.

According to the company’s FY21 results, management confirmed its final investment decision for the shift mine expansion at Prominent Hill. This move is expected to lower operating costs and lift annual copper production by 23%.

In addition, management said that “Production at Carrapateena has continued to increase during the half year as expected. In January the Board approved the Block Cave Expansion, which replaces the lower portion of the current sub level cave footprint with a block cave to increase mine production to a proposed 12Mtpa.”

The post Here’s why the Oz Minerals (ASX:OZL) share price is up 7% this week appeared first on The Motley Fool Australia.

More reading

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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 Aurumin Ltd (ASX: AUN) share price has struck proverbial gold. That’s after the company announced the striking of literal gold at its mine in Western Australia.

At the time of writing, shares in the company are trading for 23.5 cents each – up 42.42%. That comes despite the ASX All Ordinaries Index (ASX: XAO) being 0.16% lower.

Let’s take a closer look.

Aurumin share price rockets on drilling results

In a statement to the ASX, Aurumin released the results from “high-grade” drilling at its 100% owned Mt Dimer Project in WA. Drilling occurred at 7 different sites in the mine. Highlights include:

• a 4.0m wide ore at 48.7g of gold per tonne.
• a 5.0m wide ore at 19.3g of gold per tonne.
• an 8.0m wide ore at 5.70g of gold per tonne.
• a 4.0m wide ore at 2.76g of gold per tonne.

The company says future drilling “will aim to continue extending” the deposits at the mine. Investors are clearly excited by the company’s prospects, judging by the rising Aurumin share price.

Management commentary

Aurumin Managing Director Brad Valiukas said:

This is a tremendous intercept at the historically high-grade Mt Dimer production centre. These latest results both extend known mineralisation and progress T12 towards being declared a new deposit, further supporting our view of Mt Dimer having potential for multiple high-grade open pits.

We are continuing to improve our understanding of the Project and these results support our revised interpretation of lithology, fluid pathways and prospective areas. Drilling is planned to recommence at Mt Dimer next month as we look to follow up these high-grade intercepts and increase the value of the Project.

Gold spot price history

Gold is currently trading for US $1,814.05 per troy ounce on the commodities market. It’s up 1.3% this week but down 4.35% since the beginning of the year.

According to the website Trading Economics, the gold price is forecast to fall to about US $1,790 per troy ounce by the end of the quarter. The website excepts the price of gold to sink to an even lower $1,720 in 12 months’ time.

Aurumin share price snapshot

Over the past 12 months, the Aurumin share price has fallen 20.7%. Year-to-date, it’s depreciated 16.7%.

The company has a market capitalisation of $14.3 million.

The post Why the Aurumin (ASX:AUN) share price is exploding 42% appeared first on The Motley Fool Australia.

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• Why the EcoGraf (ASX:EGR) share price leapt 16% in August
• Auroch (ASX:AOU) share price soars 19% following project update
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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 Ecograf Ltd (ASX: EGR) share price enjoyed strong gains last month following a series of positive announcements from the graphite producer.

However, the share price is falling slightly this afternoon and is trading at 84 cents, down 1.18%.

What happened in August for EcoGraf?

The first update came in early August regarding the company evaluating an industrial site in Sweden to build a battery anode materials facility.

EcoGraf advised that the Skelleftea location benefits from ample clean and renewable energy and it has the lowest industrial power costs in Europe.

A detailed evaluation is currently underway for the 65,000 sqm industrial site.

The second update came in the middle of the month, announcing the completion of EcoGraf’s Engineering Scoping Study.

The concept design looked at a modular recycling pilot plant to recover carbon battery anode materials. Building such a facility would cost an estimated $5.8 million.

The company is developing work programs with potential partners to support the construction of the plant.

In late August, EcoGraf also updated the market on its progress with key sustainability activities. This is in relation to its new Australian Battery Anode Material facility. As such, this includes:

• Zero-waste operating strategy with the aim of using 100% of feedstock through product innovation and development
• Engineered water processing solutions to treat and recycle Kwinana-Rockingham wastewater and achieve a 75% reduction in water usage
• Adoption of renewable energy content within the Kwinana-Rockingham Industrial zone
• Lowering the carbon emissions footprint through the development of Life Cycle Assessment models.

The battery anode material facility in Western Australia will be the first of its kind to be built outside China. The plant will provide the supply of purified spherical graphite for the lithium-ion battery market.

EcoGraf share price summary

Over the past 12 months, the EcoGraf share price has soared 827% higher, with year-to-date growth of 391%.

The EcoGraf share price reached a 52-week high of $1.10 in February before profit-takers swooped in.

EcoGraf has a market capitalisation of $375.6 million, with approximately 450 million shares on its registry.

The post Why the EcoGraf (ASX:EGR) share price leapt 16% in August 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 Auroch Minerals Ltd (ASX: AOU) share price is soaring after news on the company’s Saints and Nepean projects.

The company announced it’s begun scoping studies at the Western Australian nickel projects to access potential mining scenarios.

Right now, the Auroch share price is 19 cents, 19.35% higher than its previous close.

Let’s take a closer look at today’s news from the mineral explorer.

Scoping studies begin

The Auroch share price is surging as the company begins studies to assess the potential for an open-pit mine at Nepean and underground mines at Nepean and Saints.

The company hopes the studies will help it build its offtake agreement for Saints with BHP Group Ltd‘s (ASX: BHP) Nickel West. The company also expects the studies will help it potentially produce nickel sulphite soon.

Auroch believes Nepean’s shallow nickel sulphate deposits could bring cash flow for the company in the medium term.  

Additionally, Auroch updated the market that its high-impact diamond drill programme at the Nepean Deeps target is continuing schedule. The first drill hole is currently 400 metres into its planned 1,200 metre depth.

Commentary from management

Auroch’s managing director, Aidan Platel, commented on the news driving the company’s share price today, saying:

With the nickel price consistently around US$ 19,000/t and forecast to increase, we believe there is great potential to take both projects forward to production and hence generate significant cash flow for the company in the medium term, and so we are eager to evaluate the economic viability for several different mining scenarios at these two projects.

We have developed a good relationship with the processing team at BHP and have an existing off-take with them for Saints, so we are keen to develop this further and to potentially build a solid business case to provide high-grade nickel sulphide feed for their processing facilities to produce Class 1 nickel products required for batteries for the fast-growing electric vehicle (EV) market.

Parallel to these studies, we continue with our aggressive exploration for a new nickel sulphide discovery across all three of our WA nickel projects.

Auroch share price snapshot

The Auroch share price has gained 23% year to date. It is also 131% higher than it was this time last year.

The post Auroch (ASX:AOU) share price soars 19% following project update 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 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 last two months have been a great time to have been invested in ASX shares. As we covered here on the Fool earlier today, the ASX 200 enjoyed a healthy gain of 2.04% over the month of August and a gain of around 1.1% in July before that.

But one ASX 200 share hasn’t been joining in the celebrations. That would be the buy now, pay later (BNPL) company Zip Co Ltd (ASX: Z1P).

The Zip Co share price has not had a good month, or a good two months to be precise. Since hitting $8.78 a share back on 7 July, it has been a slow but steady decline for Zip shares ever since. Today, Zip is trading at $6.89 a share at the time of writing. That’s up 0.88% for today, but is also a good 21% down from where Zip was at on 7 July.

So what’s gone wrong for Zip over the past two months?

Well, for one, Zip’s FY21 earnings report, which the company released a week ago, didn’t exactly impress investors. Although Zip reported some arguably strong numbers, including a revenue jump of 150% to $403.2 million and a 247.5% increase in active customers, investors seem to have been expecting a bit more. On the day the report came out, the Zip share price fell 2.6%. And it continued falling for most of last week.

Another factor that might have been an anchor on Zip shares was the blockbuster acquisition of Zip’s BNPL arch-rival Afterpay Ltd (ASX: APT) by the US payments giant Square Inc (NYSE: SQ).

Now Zip shares actually spiked by almost 10% when this news became public on 2 August. This was presumably due to increased hype over BNPL shares in general, as well as potential hopes that Zip itself would find a rose-laden suitor on its own doorstep. But this optimism seems to have faded in the weeks since.

What’s next for the Zip share price?

So what’s next for Zip shares? Well, as my Fool colleague James covered yesterday, broker Morgans thinks the current pricing might be a buying opportunity for Zip shares. Morgans reportedly has an ‘add’ rating on Zip shares, with a newly revised 12 month share price target of $8.87.

That implies a potential upside of almost 28% going forward. Morgans sees “longer term upside if Z1P can execute on its ambitions of becoming a global payments player”.

At the current Zip Co share price, the BNPL company has a market capitalisation of $3.9 billion.

The post The Zip (ASX:Z1P) share price is down 20% since early July. What’s next? appeared first on The Motley Fool Australia.

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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 leaders of several S&P/ASX 200 Index companies are worried enough about the COVID-19 political discourse that they have penned an open letter.

The chief executives of 80 companies that employ nearly one million workers sent the letter to major newspapers calling on state premiers to stick to the national reopening plan, reported the Australian Financial Review.

The fear is that the haphazard reopening of Australia will deepen the expected contraction in GDP in the September quarter.

Top ASX 200 companies backing COVID reopening plan

The letter was signed off by the bosses of some of the largest ASX 200 shares. These include mining giant BHP Group Ltd (ASX: BHP) and leading retailers like Wesfarmers Ltd (ASX: WES), Woolworths Group Ltd (ASX: WOW) and Coles Group Ltd (ASX: COL).

Other ASX large cap shares that put their name to the letter include Telstra Corporation Ltd (ASX: TLS) and Qantas Airways Limited (ASX: QAN) – just to name a few.  

No premiers were singled out, but we are all looking at you Western Australia! Its leader Mark McGowan has been most vocal about keeping his state boarder shut even if 80% of the population was vaccinated.

Balancing growth with COVID protection

That goes against the national plan that’s based on research by the Peter Doherty Institute. The national plan, which was supposedly agreed to by the federal and all state governments, would make lockdowns largely a thing of the past once four-in-five Aussies have been fully vaccinated against COVID.

At that point, all state borders should be reopened and businesses would be allowed to operate under COVID-safe rules.

ASX 200 leaders urging premiers to stick with Doherty

The open letter is backing the reopening plan and the leaders of these ASX 200 companies believe the Doherty Institute struck the right balance in protecting Aussies and our economy.

“We ask governments to work together to implement the National Plan and chart a path out of the current lockdowns,” The AFR quoted the letter as saying.

“Providing a light at the end of the tunnel will encourage more Australians to get vaccinated. We need to give people something to hope for, something to look forward to, something to plan around, and to be confident about their futures.”

Dodging the dreaded “R” word

Economists expect Australia’s September quarter GDP to shrink between 2% and 4.5%. This is the period when the lockdowns in Victoria and New South Wales will be most acutely felt.

It was good fortune that Australia’s economy didn’t go backward in the June quarter. The GDP data released today showed a stronger than expected 0.7% increase.

Foolish takeaway

If the economy went backwards in the June quarter, Australia would almost certainly have fallen into a recession. The technical definition of a recession is two consecutive quarters of negative GDP readings.

Now our political leaders only need to ensure we get a nice rebound in economic activity in the December quarter while managing the pandemic.

Not an easy tightrope to walk, but that’s why they get paid the big bucks.

The post ASX 200 company bosses lobby for reopening plan appeared first on The Motley Fool Australia.

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Motley Fool contributor Brendon Lau owns shares of BHP Billiton Limited and Telstra Corporation Limited. 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, Telstra Corporation Limited, and 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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The Avita Medical Inc (ASX: AVH) share price is well into the green during afternoon trading on Wednesday.

Whereas the S&P/ASX 200 Index (ASX: XJO) has stepped 0.29% into the red from the market open, Avita shares are 1.85% up on the day.

A quick recap on Avita Medical

Avita Medical is a medical technology company that specialises in regenerative medicine.

The company’s flagship product, the RECELL system, is used in the treatment of burns and has been dubbed a revolutionary new process.

At the time of writing, Avita Medical has a market capitalisation of $671 million.

What’s up with the Avita Medical share price today?

There has been no market-sensitive information released by the company today. However, Avita did release an announcement that explained its management will “participate” in the Lake Street 2021 BIG 5 Conference. The conference is available for virtual attendance on Tuesday 14 September.

The Best Ideas Growth Conference, shortened as the “BIG 5” Conference, is “an invitation-only event, featuring over 100 dynamic, small-cap companies interacting with top institutional investors”.

Avita joins an extensive list of small-cap companies listed on various exchanges. Each name will be either attending and/or participating in the event, sharing their technology or innovative differences.

The companies range across several sectors, including life sciences, semiconductors, 3D printing, and consumer discretionary to name a few.

It is unclear what Avita will be presenting at the event although it may showcase its “point of care autologous skin restoration” technology, known as RECELL. The RECELL technology regenerates damaged skin by using a person’s own skin cells to do so.

Investors seem to have favoured the news and are pushing the Avita Medical share price higher on the day.

Avita Medical share price snapshot

The Avita Medical share price has had a choppy year to date, posting a gain of just 11% since January 1. Over the last month, Avita shares have climbed around 8% into the green.

Despite this, Avita shares have sunk 18% in the red over the past 12 months. These results have lagged the broad index’s return of around 25% over the past year.

The post Why the Avita Medical (ASX:AVH) share price is outperforming today 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. owns shares of and has recommended Avita Medical Limited. The Motley Fool Australia has recommended Avita Medical 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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