The Next Science Ltd (ASX: NXS) share price went from red to green before finishing back in the red during afternoon trade.

At 3pm, shares in the company were trading for $1.80 – down 1.1% – before rising to $1.87 within half an hour. Just 8 minutes later, however, the Next Science share price was even deeper in the red than before. It ended the day at $1.76 – down 3.3%.

The volatile price movement came after the technology company announced it was lowering forecasted revenue for the second half of FY21.

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

Earnings forecast drops

In a statement to the ASX, Next Science said it expected revenue for the first half of calendar year 2021 to be between $3.5 million and $4 million.

Judith Mitchell, managing director of Next Science, said of the figure:

We expect H1 2021 revenue to exceed total revenue for FY 2020 and our growth rate will be at least 230% on the prior corresponding period.

However, back in January this year, Next Science said it expected the earnings trajectory from Q2 to continue into the second half of this financial year. Earnings for that period were $2.3 million and the announcement sent the Next Science share price 8% higher that day.

Extrapolating this figure, Next Science predicted revenue for the second half of the financial year to be $4.6 million. From today’s announcement, that means the current projection is 13% lower at best and 24% lower at worst.

Investors responded to the updated numbers by sending the Next Science share price seesawing.

Next Science share price snapshot

Over the past 12 months, the Next Science share price has increased 29.3%. However, it has not fully recovered since the COVID market crash of March 2020. On 5 March that year, Next Science shares were trading for $2.19. Over the previous 12 months, the highest price these same shares have traded at is $2.06.

Next Science has a market capitalisation of around $350 million.

The post Next Science (ASX:NXS) share price swings on lowered earnings update appeared first on The Motley Fool Australia.

More reading

• Here’s why the Next Science (ASX:NXS) share price finished higher today

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Next Science Limited. 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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Although the tech sector has been recovering recently, it is still underperforming the market by some distance in 2021.

While this is disappointing for investors with overweight exposure to the sector, it could be a buying opportunity for others.

Two ASX tech shares that are still trading notably lower than their 52-week highs and have been given buy ratings are listed below. Here’s what you need to know about them:

Appen Ltd (ASX: APX)

Despite a recent improvement, this artificial intelligence (AI) data annotation products and solutions provider’s shares are down 68% from their 52-week high.

This has been driven partly by concerns over softer than expected demand for its services from some of its largest customers due to COVID-19 headwinds. This has led to doubts that it will be able to achieve its guidance in FY 2021, particularly with management expecting a sizeable skew to the second half.

Nevertheless, the company remains positive on its longer term prospects thanks to its leadership position in a growing market.

Ord Minnett also appears positive on its future. The broker has a buy rating and $24.75 price target on the company’s shares.

Kogan.com Ltd (ASX: KGN)

The Kogan share price has been sold off this year and is now down 58% from its 52-week high. Investors have been selling the ecommerce company’s shares after its incredible sales and profit growth came to an abrupt end.

This has been caused by management’s failure to handle its inventory efficiently during the pandemic. It loaded up on product and was left with excessive inventory on its hands when demand softened again. Things gots so bad at one stage it was paying millions in demurrage charges for inventory stuck at ports because it ran out of room in its warehouses.

While this is very disappointing, these issues are only expected to be temporary. As a result, this recent weakness in the Kogan share price could be a buying opportunity for long term focused investors.

Analysts at Canaccord Genuity appear to believe this is the case. They currently have a buy rating and $14.00 price target on its shares.

The post 2 ASX tech shares that could be good value appeared first on The Motley Fool Australia.

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• Do brokers think the Appen (ASX:APX) share price is a buying opportunity?
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James Mickleboro does not own any shares mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Appen Ltd and Kogan.com ltd. The Motley Fool Australia owns shares of and has recommended Appen Ltd and Kogan.com 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 Magnum Mining and Exploration Ltd (ASX: MGU) share price closed the day in positive territory. This came after the mineral miner announced an agreement with global mining company, Anglo American.

At the end of market trade, Magnum shares finished up 2.86% to 18 cents.

Magnum progresses on Buena Vista iron ore project

Investors pushed the Magnum share price higher after coming out of a trading halt today.

According to its release, Magnum has signed a mandate letter and an indicative term sheet with Anglo American. This will see both parties exclusively negotiate definitive documents for the offtake and prepayment financing for Magnum’s Buena Vista iron ore project.

The mandate letter provides for a 60-day period to finalise a binding agreement.

Should both companies come into an offtake arrangement, Magnum will sell its entire direct shipping ore (DSO) from Buena Vista to Anglo American. This includes Magnum’s iron ore concentrate, hot briquetted iron and pig iron.

Pleasingly, Anglo American has proposed to buy a minimum of 560,000 tonnes of Magnum products. Furthermore, subject to due diligence, Anglo American may purchase up to an estimated 800,000 tonnes on a secured prepayment basis. The DSO however would require a payment beforehand of US$8 million, and possibly an additional US$4 million for vessel costs.

The company noted the prepayments would support fund infrastructure and working capital, along with increasing DSO operations.

Magnum managing director Dano Chan said:

Magnum is systematically delivering on its strategy of shipping ore in 2021 and the proposed agreement with Anglo American of a long-term offtake and financing is intended to be a key step in this process.

Magnum said it would provide a further update to investors when the formal agreements were complete.

More on the project

Located in Nevada, in the United States, the Buena Vista mine is an advanced magnetite iron ore project wholly owned by Magnum.

In the short term, the mine is expected to produce around 232 million tonnes of export-grade DSO at 62% and 65% fines. At the longer-term end of the scale, DSO quality is expected to increase to 67.5% of iron magnetite concentrate.

The mine has good access to rail, water, port, and power facilities.

About the Magnum share price

A strong 12 months has driven up Magnum shares by about 250% on the back of investor excitement in the sector.

Based on valuation metrics, Magnum has a market capitalisation of around $90 million, with approximately 478 million shares outstanding.

The post Why the Magnum (ASX:MGU) share price edged higher today appeared first on The Motley Fool Australia.

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• The Mesoblast (ASX:MSB) share price has rocketed 18% this week
• What moved the Stockland (ASX:SGP) share price this week?
• These 3 shares were the biggest gainers of the ASX 200 this week
• What happened with the CBA (ASX:CBA) share price this week?

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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Have you got room for a blue chip or two in your portfolio? If you are, then take a look at the blockbuster blue chip shares listed below.

Here’s why they are highly rated:

REA Group Limited (ASX: REA)

The first ASX blue chip to look at is REA Group. It is of course the market leader in real estate listings in the Australian market.

At the last count, the company’s local websites were commanding over triple the visits of its nearest rival. This certainly is a big positive given the current housing market boom, which is driving growth in listing volumes again.

Combined with price increases and new revenue streams, this bodes well for the company’s performance in the second half of FY 2021 and the next financial year.

One leading broker that believes the company’s shares are in the buy zone is Morgan Stanley. Its analysts currently have an overweight rating and $175.00 price target on its shares.

Westpac Banking Corp (ASX: WBC)

Another blue chip ASX share to consider is Westpac. It recently released its half year results and revealed a 256% increase in cash earnings to $3,537 million.

This was driven by a significant improvement in trading conditions after the worst of the pandemic passed. And positively, with the banking sector’s outlook continuing to improve, the medium term looks very positive for the bank and its shareholders.

Morgan Stanley is very positive on the company. It believes it has the balance sheet strength to return significant funds to shareholders in the near future. The broker suspects that Westpac will announce a $3.5 billion share buyback with its FY 2022 half year results.

It has an overweight rating and $29.20 price target on its shares. The broker is also expecting Westpac to pay fully franked dividends per share of $1.18 and $1.25 over the next two years. Based on the latest Westpac share price, this will mean yields of 4.5% and 4.75%.

The post 2 blue chip ASX shares that could be buys in June appeared first on The Motley Fool Australia.

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James Mickleboro owns Westpac shares.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 REA Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Mesoblast Limited (ASX: MSB) share price has enjoyed a bumper week, rising an incredible 18%.

Today alone, the allogeneic cellular medicines company’s shares finished up 6.4% at $2.16.

With no news out of Mesoblast since earlier this month, we take a look into some recent announcements.

How has Mesoblast been performing?

Investors have been snapping up Mesoblast shares since they hit a 52-week low of $1.70 last week.

The price drop came after the company released its third quarter update, in which it revealed a fall in revenue to US$1.9 million. This was down 84% on the prior corresponding period, although that was mainly due to significant one-off milestone revenue a year earlier.

One area in its quarterly scorecard that may concern investors came from its increasing expenses, particularly management and administration costs. Staff expenses came in at $8.1 million compared with $5.7 million during the same period last year.

Mesoblast reported a loss after tax of US$26.5 million for the quarter, compared with a loss of $15.3 million during Q3 FY20.

To absorb growing costs and significant losses, the company successfully completed a private placement, raising US$110 million. Management noted the proceeds will be used to provide financial strength for operational and regulatory initiatives across multiple products.

Despite the poor result, a possible catalyst for the strong gains made by Mesoblast shares in the last 5 trading days is a recent bullish broker note.

Australian investment firm Bell Potter issued a price target of $4.70 for Mesoblast following its Q3 FY21 report. While it may have cut its outlook by 7.8% from its original note, this represents an upside of an astonishing 118% on today’s share price.

Mesoblast share price summary

In the past 12 months, Mesoblast shares have disappointed investors. The company’s share price is down by more than 40% since this time last year, and by 4% year-to-date.

It’s worth noting that, despite this week’s strong gain, Mesoblast shares are some way off their 52-week high of $5.70.

On valuation grounds, Mesoblast has a market capitalisation of around $1.4 billion, with approximately 648 million shares outstanding.

The post The Mesoblast (ASX:MSB) share price has rocketed 18% this week 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 Stockland Corporation Ltd (ASX: SGP) share price lifted 3.2% higher on Thursday to close at $4.86 per share before paring back some of those gains to close out the week at $4.79. Thursday’s closing price helped the Aussie real estate investment trust (REIT) close at a new 52-week high in good news for shareholders.

Let’s take a look at what’s been happening for one of the biggest REITs in the S&P/ASX 200 Index (ASX: XJO).

The week that was for the Stockland share price

Thursday was a good day for Stockland and many of the other Aussie REITs. Shares in Mirvac Group (ASX: MGR) and Goodman Group (ASX: GMG) climbed 1.7% and 2.3%, respectively. But all eyes were on the Stockland share price as it jumped 3.2% to close at a new 52-week high.

Property and tech helped the benchmark Aussie index close above 7,300 points on Thursday. Stockland was chief amongst the market leaders as investors picked their favourites ahead of the release of US inflation data on Thursday night.

Those broader market gains continued on Friday, but the same can’t be said for the Stockland share price. Shares in the Aussie REIT have retreated today, closing down 1.44%, but are still up 3.68% in the last month.

US inflation spikes

As we now know, US inflation numbers have climbed to the highest rate since 2008 in the latest data release. According to the US Bureau of Labor Statistics, headline inflation climbed to an annual rate of 5% in May, up from 4.2% in April and at the highest level since the GFC.

Anticipation of those numbers was one big factor driving markets on Thursday, but there was also some movement in bond markets, which could be having a broader impact.

Bond yields edged lower on Thursday as the tug-of-war between central banks and fixed income investors continues. Lower yields are less attractive to investors from a return perspective which can help other potential strong dividend shares such as REITs.

A fall in yields could also indicate borrowing prices will remain at their record lows for a little longer, which is good news for leveraged companies like the REITs.

The Stockland share price has been a beneficiary of bullish investors in the last week or so. That means the Aussie REIT has closed out the week in the green, despite a soft day of trade today.

The post What moved the Stockland (ASX:SGP) share price this week? appeared first on The Motley Fool Australia.

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

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The S&P/ASX 200 Index (ASX: XJO) is a fantastic beast, and this week these 3 ASX shares managed to tame it.

And it likely wasn’t an easy feat. While the ASX 200 managed to finish the week in the green, it did so by the skin of its teeth. Since Monday’s open, the ASX 200 has gained just 0.13%.

Let’s take a look at the 3 companies leading the ASX 200 pack this week.

ASX 200’s biggest winners of the week

Iress Ltd (ASX: IRE) ­– up 19.93%

Much of this week’s gains came to the Iress share price through sheer speculation amid rumours of a big buyer on the hunt – although, it did release genuine news today.

The software company jumped on the brakes when a rumour emerged that investment bank Barrenjoey was looking to buy Iress shares on behalf of a financial sponsor client. The story was published by the Australian Financial Review on Wednesday morning.

Within the hour Iress had released a statement denying the rumour.

Still, the ‘news’ excited the market enough for the Iress share price to close 16.8% higher that day.

Today, Iress announced it has implemented several changes to accelerate its growth trajectory and create greater shareholder value.

The seemingly positive news saw the Iress share price close 1.7% lower than yesterday.

Despite today’s losses, the Iriss share price is sitting pretty at $12.57, having finished last week at just $10.44.

Whitehaven Coal Ltd (ASX: WHC) ­– up 19.55%

This ASX 200 leader got to into the top 3 without releasing any price sensitive news.

However, the price is coal has been experiencing an astronomical tailwind lately. So much so, that China is pushing back against it by capping the price it’s willing to pay for the commodity.

The Whitehaven Coal share price hit several 52-week highs this week, with yet another being met today.

Currently, one share in Whitehaven will set an investor back $2.11.

Mesoblast Limited (ASX: MSB) – up 18.03%

Mesoblast has made the list of the ASX 200’s best performers despite also not releasing any news this week.

As The Motley Fool Australia’s Scott Phillips told Nine Entertainment Co Holdings Ltd‘s (ASX: NEC) 9 News on Wednesday, Mesoblast’s share price has been driven by positive broker notes this week.

The week’s final broker note on Mesoblast came from Bell Potter, which put a price target of $4.70 on Mesoblast’s shares. That’s 118% more than Mesoblast’s current share price.

Additionally, Mesoblast shares were nearing their lowest point of the last 12-months earlier this week, perhaps spurring some bargain-bin investing.

The Mesoblast share price finished the week at $2.16.

The post These 3 shares were the biggest gainers of the ASX 200 this week 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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Commonwealth Bank of Australia (ASX: CBA) shares have been in the red all day. The CBA share price is down 0.6% in the final hour of trading, at $101.21 per share.

That’s 1.3% lower than last Friday when the CBA share price closed at a new record high of $102.52.

Finance levels rising, share buyback expectations

With interest rates still near all-time lows and the Australian economy picking up speed, the bank reported a 21% leap in equipment and machinery financing in May year-on-year.

According to CBA executive general manager, business lending, Clare Morgan:

The construction industry in particular, has benefited from multiple government stimulus packages, including record investments in public infrastructure projects and the Homebuilder grant. We’re also seeing strong demand for vehicle financing and machinery, particularly in the food manufacturing and agriculture sectors.

The CBA share price may also be in for a lift if WAM Leaders Ltd (ASX: WLE) portfolio manager Matthew Haupt has it right on expectations for share buybacks.

Haupt is bullish overall on the big banks. He believes they’ll start returning a trove of excess capital to investors in the next 3-6 months.

On CBA shares specifically, he expects we’ll see an off-market share buyback with “a large franking component… National Australia Bank, I think, will do smaller, bite-sized buybacks over the next few years.”

How did the CBA share price move this week?

With no rally in the final moments today, the CBA share price has closed lower on 4 of the 5 trading days this week. Thursday, 10 June, was the only day the bank’s shares gained, closing the day up 0.76%.

Still, the CBA share price is only a touch off its all-time highs. It remains up more than 50% over the past 12 months, far outpacing the 23% gains posted by the S&P/ASX 200 Index (ASX: XJO) over that same time.

The post What happened with the CBA (ASX:CBA) share price this week? appeared first on The Motley Fool Australia.

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Bernd Struben 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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Pilbara Minerals Ltd (ASX: PLS) shares were duking it out with some of the best-performing S&P/ASX 200 Index (ASX: XJO) mining stocks today. The Pilbara Minerals share price was lighting up the boards with a green gain of 2.2% by Friday’s close.

What’s pushed the Pilbara Minerals’ share price higher?

Despite the performance, there are no announcements from the company today. However, it appears the resource sector more broadly is enjoying a day of strong performance.

Potentially, investors are buying up ASX 200 resource shares after the United States released its consumer price index (CPI) figures for May. The data showed CPI to have increased by 5% compared to the same time last year – the biggest surge in inflation in nearly 13 years.

Hence, investors might be loading up with the shares that tend to outperform technology and growth shares during inflationary periods, according to Perennial Value Management portfolio manager Dan Bosscher.

Recent Pilbara Minerals news

It’s no secret that the Pilbara share price has benefitted from strong lithium demand. Lithium prices have continued to trend higher, with carbonate and hydroxide prices pushing more than 50% off November 2020 lows.

Electrifying the Pilbara share price further, Tesla Inc (NASDAQ: TSLA) recently announced that the electric vehicle maker plans to spend $1 billion or more in Australian minerals.

Tesla chair Robyn Denholm spoke at the Minerals Council of Australia event in Canberra:

At the heart of everything we do in our quest to accelerate the transition to sustainable energy is the lithium-ion battery – one of the most important technologies of the century.

Further adding:

Tesla’s mission is to accelerate our transition to sustainable energy. There is a global transition to sustainable energy underway and this presents a huge opportunity for Australia.

Pilbara Minerals also announced in early May that it had entered into a memorandum of understanding with Calix Ltd (ASX: CXL) to develop a “midstream” lithium chemicals refinery.

The post The Pilbara Minerals (ASX: PLS) share price delivered green today appeared first on The Motley Fool Australia.

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Motley Fool contributor Mitchell Lawler 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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Shares in OM Holdings Limited (ASX: OMH) are gaining today after news the company has released the prospectus for its secondary listing in Malaysia. Near the close of trade, the OM Holdings share price was trading at 85 cents, 3.03% higher than yesterday’s closing price.

OM Holdings is a manganese ore and ferroalloy producer. It operates a manganese asset in Australia and a smelting facility in Malaysia, and also has assets in South Africa, China, and Singapore.

OM Holdings’ new listing

Today, OM Holdings announced it will list on Malaysia’s Bursa Securities Malaysia Berhad (Bersa Securities), with a “tentative” listing date of 22 June..

The company said the new listing would not involve new shares, but rather all shareholders would be able to transfer OM Holdings shares between the 2 exchanges.

OM Holdings executive chair and CEO Low Ngee Tong, along with the company’s other notable shareholders, will transfer at least 10 million of their own shares from the ASX to Bursa Securities on the day of listing. The 10 million shares represent 1.35% of Om Holdings’ issued shares.

The ASX will continue to be the company’s primary listing. The new listing will see OM Holdings become the first ASX-listed company to be dual-listed in Malaysia.

Commentary from management

Low Ngee Tong commented on the company’s secondary listing:

Through the secondary listing, we aim to broaden our investor reach and widen our investor base, and potentially increase the liquidity of our shares through separate trading platforms. It will enable us to tap into additional platforms for future fundraising and provide us with the flexibility to access different equity markets to raise funds.

We may potentially undertake fundraising from the Malaysian capital markets after the secondary listing and channel the funds towards expanding our Sarawak Plant.

OM Holdings share price snapshot

It’s been a good year on the ASX for the OM Holdings share price so far. Currently, shares in the company are up 54% year to date. They have also gained 112% since this time last year.

The company has a market capitalisation of around $609 million, with approximately 736 million shares outstanding.

The post OM Holdings (ASX:OMH) share price up on news of a second listing 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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