The talk of the S&P/ASX 200 Index (ASX: XJO) watercooler this week has centred around Rio Tinto Limited (ASX: RIO) and the monster US$9.1 billion dividend that the miner announced on Wednesday.

ASX mining shares have been among the standout ASX 200 performers in 2021 so far, but this week has taken miners to the next level.

The Rio dividend announcement has seen the Rio share price rise by more than 3% since the news was released.

This has culminated in the Rio share price hitting a new all-time high of $136.90 a share just today. As has its arch-rival BHP Group Ltd (ASX: BHP), which hit $54.55 a share this morning.

So what is so good about this Rio dividend that it has seemingly played a large role in the company’s new high watermark today? Well, when it comes to dividends, it seems size does matter.

Rio Tinto’s share price boosted by monster dividend

The new Rio dividend comes in at a record US$9.1 billion. Rio will be paying an interim dividend of US$3.76 per share, as well as a special dividend of US$1.85 a share, on 23 September. That equates to US$5.61 a share (or AU$7.60 with today’s exchange rate).

Just to put into context how large this dividend is, a reminder of Rio’s previous payout. That one was a final and special dividend combination and amounted to a total of US$4.69 a share.

Before that, the last interim Rio dividend came to US$1.55 a share. In other words, this new dividend is a 143% increase from last year’s interim dividend. Yowza.

So, how much is this new Rio dividend worth in terms of yield?

Well, if we combine this newly announced payout with Rio’s last final dividend (excluding the specials), we get a figure of US$6.85 ($9.27). That would equate to a yield of 6.85%. If we include the special dividends, we get to 7.61%.

And, just for kicks, let’s annualise Rio’s upcoming dividend and see what we find.

So, if we assume Rio pays out exactly the same dividend as it will in September for its following dividend payment, we would get a hypothetical forward yield of 8.28%. With Rio’s full franking credits, this would gross up to a whopping 11.83%.

No wonder investors are scrambling to get hold of Rio Tinto shares right now.

At the current Rio Tinto share price, the company has a market capitalisation of $50 billion, a price-to-earnings (P/E) ratio of 8.62 and a trailing dividend yield of 4.55%.

The post Here’s how much the massive new Rio Tinto (ASX:RIO) dividend is worth appeared first on The Motley Fool Australia.

More reading

• ASX 200 shares in this sector pushing into record highs on Friday
• Top brokers name 3 ASX shares to sell today
• The ASX 200’s new record high is flimsier than you might think. Here’s why
• Has the record breaking Rio Tinto (ASX:RIO) share price hit its peak?
• ASX 200 midday update: Rio Tinto charges higher, IRESS rockets, Macquarie update

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

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The Keytone Dairy Corporation Ltd (ASX: KTD) share price has failed to fire up in trading today and has currently returned to its opening price of 14 cents.

Today’s doldrums come as the company released its first-quarter FY22 earnings earlier today. Let’s take a closer look at the results.

Quick refresher on Keytone Dairy

Keytone Dairy manufactures and exports dairy products related to health, wellness and nutrition. It derives most of its revenue from the New Zealand market.

It has expertise in formulated powders and ready-to-drink protein shakes. Its flagship brands are KeyDairy, KeyHealth and FaceClear.

Keytone Dairy has a market capitalisation of $38 million at the time of writing.

Keytone’s quarterly results

For its first quarter in FY22, Keytone recognised revenue of $13.4 million, representing year-on-year growth of 17%.

Most of the contribution came from its Australian operations, where it recognised $10.3 million versus $3.1 million from its New Zealand dairy business.

Keytone said the uplift in total revenue did not reflect “new contract wins, principally the Coles contract”.

Recall that Keytone recently started its $5 million contract with Coles, with the first products dispatched in “late June 2021”. The company said revenue from this contract would be “realised from September onwards”.

The company also realised $12.8 million in cash receipts this quarter, up 56% from the quarter prior.

Additionally, the company allocated $408,000 of capital expenditures on its “Sydney protein bar/snacking plant”. However, the costs were “completely offset” by the receipt of a “manufacturing modernisation grant” of $440,000.

Additional takeouts from the report

Keytone also completed the launch of its new energy drink initiative, Tonik Energy, into Australia and New Zealand.

As a result, the first production run “was completely pre-sold to select distributors” for around $100,000.

Moreover, Keytone also secured a “competitive trade debtor facility” of $7 million for working capital and “further strategic growth initiatives” in Australia.

Keytone explains the funds will be “deployed to focus on organic growth initiatives, new contract wins and the growing sales pipeline”.

Speaking on the release, Keytone CEO Danny Rotman said:

The first quarter of FY22 has seen a number of initiatives worked on through the back end of FY21 begin to come to fruition with the results starting to flow through to the operational units of Keytone.

Keytone Dairy share price snapshot

The Keytone Dairy share price has underperformed the broad index this year to date, posting a loss of 46% since January 1.

This extends the previous 12 month’s loss of 39%, whereas the S&P/ASX 200 Index (ASX: XJO) has posted a return of around 23% over the same time.

Despite this, in the last 1 month, The Keytone Dairy share price has climbed 12.5% into the green.

The post What’s with the Keytone Dairy (ASX:KTD) share price today? appeared first on The Motley Fool Australia.

More reading

• Here are 3 heavily traded ASX 200 shares on the markets today
• What type of ASX investor are you? Survey reveals evolving strategies
• Telstra (ASX:TLS) share price slips as Optus teams up with Uber
• ASX 200 shares in this sector pushing into record highs on Friday
• Brokers name 3 ASX shares to buy today

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

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The S&P/ASX 200 Index (ASX: XJO) is having a rather interesting day of trading this Friday. After playing jump rope with the breakeven line all day today, the ASX 200 is currently up just 0.02% to 7,419 points. But let’s now take a look at which ASX 200 shares are being the most heavily traded today:

3 heavily traded ASX 200 shares today

Scentre Group (ASX: SCG)

ASX Real Estate Investment Trust (REIT) Scentre Group is our first ASX 200 share to look at today. The Westfield operator has seen a substantial 14.91 million of its units trade on the ASX markets so far. There are no major news or announcements out of the company today (or recently), so we’ll have to assume the high trading volume is related to the performance of the Scentre share price today.

Currently, Scentre units are up a healthy 1.97% to $2.59 apiece. This company is now up 5.5% from Monday’s closing price at today’s levels.

Origin Energy Ltd (ASX: ORG)

Another ASX 200 share that’s trading heavily today is energy generator and retailer Origin. So far this Friday, a hefty 16.12 million Origin shares have swapped hands. This is unquestionably the result of what has happened with the Origin share price today. Origin shares are currently down a nasty 7.96% to $4.10 a share.

This seems to be a reaction to the company’s market update that was released today. This update told investors that the company has taken a $2.247 billion impairment charge for some of its generation assets as a result of lower wholesale electricity prices. Origin also warned investors that it now expects FY2022 earnings to come in the range of $450-600 million (down from $940-1,020 million for FY21).

AMP Limited (ASX: AMP)

And last but certainly not least in terms of trading volume today, we have ASX 200 wealth manager AMP. AMP tops the trading charts today, with a whopping 17.52 million shares flying around the markets so far. This has coincided with another dismal day for the AMP share price.

This embattled company has taken yet another bath today, and has even found itself at a new all-time low of $1.04 a share today. AMP has since bounced off this low but is still going for $1.06 at the time f writing, down 0.94% for the day. This seems to be a reaction to the news that AMP is now facing legal action from the Australian Securities and Investments Commission (ASIC) over its ‘fees for no service’ scandal.

The post Here are 3 heavily traded ASX 200 shares on the markets today appeared first on The Motley Fool Australia.

More reading

• The AGL (ASX:AGL) share price is down 60% in 5 years. But have the dividends paid off?
• ASX 200 midday update: NAB’s $2.5bn buyback, Origin shares sink
• What’s going on with the Pilbara Minerals (ASX:PLS) share price today?
• Origin (ASX:ORG) share price crashes 8% on $2.2bn charge and FY 2022 guidance
• AMP (ASX:AMP) share price on watch as ASIC starts legal action

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

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Have you ever used Google [Alphabet Inc Class A (NASDAQ: GOOGL)] to research a promising ASX share before you invest in it?

If so, you’re far from alone.

That’s according to a new global survey released by multi-asset investment platform eToro titled eToro’s Retail Investor Beat.

The investor study surveyed 500 Aussie retail investors across all the major cities to discern their habits and trends in the second quarter of 2021. And it found that 41% of ASX retail investors turn to Google to investigate potential opportunities. That makes Google the most common tool used among Aussie retail investors.

As for social media?

The survey found that more experienced investors, those with at least 10 years’ experience, are “considerably less likely” than newbies to turn to online forums and social media to get the scoop on potential investments.

ASX shares, international shares, or cryptocurrencies?

These days its easier and cheaper than ever to invest in international shares. And cryptocurrencies continue to defy most regulatory efforts and draw in new investors and speculators.

Looking beyond opportunities on the ASX, 32% of respondents said that US shares look to be the best investment opportunity over the coming 3 months, relative to European and emerging markets.

Sector wise, technology shares remain a favourite play. 36% of Australian retail investors said the tech sector will offer the best opportunities in the quarter ahead.

Cryptocurrencies, as you may expect, are twice as popular with younger Aussie investors as with older investors. 32% of the younger cohort said they were likely to invest in crypto over the next 3 months compared to 16% of the older investors.

So which crypto are they eyeing?

Bitcoin, of course. The world’s biggest crypto by market cap. 21% of respondents forecast Bitcoin offers the best investment opportunity.

Commenting on the survey results, Robert Francis, Australian managing director of eToro said:

Thanks to the rise of the retail investor, Australians are starting to take more control of their investments and understand what their strategy and risk appetite is before taking the plunge. We are seeing more educated retail investors diversifying their portfolios with a range of different assets including their favourite stocks from markets beyond the ASX, to crypto and commodities.

Investors optimistic on share market outlook

Respondents weren’t overly bullish on the outlook for the Aussie economy. But the majority believe their investments will gain value over the coming 12 months.

84% of Aussie retail investors said they’re more confident with their own investment plans than they are with the national or global economic outlook. While 57% think their investments will appreciate over the coming year.

Younger retail investors appear even more bullish, with 40% of Generation Z and Millennials saying they plan to invest more in the next 12 months compared to 29% of Generation X and Baby Boomers.

Don’t forget the ASX dividends

Dividends came in as the leading issue for Aussie retail investors, with 35% listing a company’s dividend payment as the most important factor they consider.

Dividends are more important for older retail investors than younger. 55% of older respondents make dividends a priority check box compared to 20% of younger investors. With ASX shares often coming with franking credits, investors often get a welcome break come tax time.

The importance of environmental, social and corporate governance (ESG) compliance in their investment decisions also showed a large difference between age groups. Younger Australian retail investors were twice as likely to list concern over ESG as a concern compared to those aged 55 and older.

e-Toro’s Francis said:

These survey findings demonstrate a shift in attitudes towards the stock market that may have not existed prior to the global pandemic. In 2020, we saw a confluence of circumstances including the acceleration of digital technologies, commission-free stock investing, interest rate cuts and similar trends which well and truly pushed retail participation in the capital markets.

Francis added, “The future is looking bright for Australian retail investors and we are excited to see what types of trends the next quarter will bring.”

The post What type of ASX investor are you? Survey reveals evolving strategies appeared first on The Motley Fool Australia.

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• This is how Alphabet (still) makes most of its money

Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Alphabet (A shares) and Alphabet (C shares). The Motley Fool Australia has recommended Alphabet (A shares) and Alphabet (C shares). 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 Telstra Corportation Ltd (ASX: TLS) share price is slipping today, despite no news having been released by the telecommunications company.

However, there’s been big news out of its major competitor, Optus. Optus announced today it’s partnering with Uber Technologies Inc (NYSE:UBER) to deliver phones to customers.

Right now, the Telstra share price is $3.78. That’s 0.13% lower than its previous closing price.

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

Optus teams up with Uber

The Telstra share price is falling while, simultaneously, Optus has released exciting news of a partnership with Uber.

The 2 non-ASX companies are teaming up to offer 1-hour deliveries for new phones purchased through select ‘Yes’ Optus stores.

The offer is being trialled at 3 stores in Melbourne, 3 in Sydney, and another 3 in Brisbane.  

Those who live in specific postcodes can call their local store to purchase their phone and request a 1-hour delivery. Optus will then work out the details while its customer sits back and waits for their purchase to arrive on their doorstep.

Optus’ managing director of marketing and revenue Matt Williams said:

No other telco offers this kind of signature service and with Australia’s fastest 5G, we continue to raise the bar on value and service by providing one of the fastest technology delivery services in Australia and connecting our customers with the technology that improves their lives quicker than ever before.

While it’s not clear whether Optus’ newest offering is driving the Telstra share price down, it might increase how far Telstra needs to go to beat the competition.

Telstra share price snapshot

Despite being in the red today, the Telstra share price has been performing well recently.

Right now, shares in the telco giant are trading for 25% more than they were at the start of 2021. They are also going for 11% more than they were this time last year.

The company has a market capitalisation of around $44.9 billion, with approximately 11.8 billion shares outstanding.

The post Telstra (ASX:TLS) share price slips as Optus teams up with Uber appeared first on The Motley Fool Australia.

More reading

• Telstra (ASX:TLS) share price on watch after NBN news
• Here are 3 of the most heavily traded ASX 200 shares this Thursday
• Telstra (ASX:TLS) share price and improving sector dynamics – Expert
• These ASX 200 shares have just hit 52-week highs
• These ASX 200 shares were flying around the share market today

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 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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Many ASX 200 shares in the resources sector are looking at record finishes on Friday.

This is despite a flat performance from the broader S&P/ASX 200 Index (ASX: XJO), which is down 0.05% to 7,413.60 at the time of writing.

ASX 200 shares making record highs

Iron ore

Despite news that iron ore prices have tumbled to below US$200/tonne overnight, many ASX 200 iron ore miners continue to push higher on Friday.

The BHP Group Ltd (ASX: BHP) share price hit an all-time high of $54.55 this morning and is currently trading 1.24% higher to $53.98.

Similarly, the Rio Tinto Limited (ASX: RIO) share price is 1.14% higher to $135.62 after hitting a record high of $137.33 on Thursday.

Higher grade iron ore producer Champion Iron Ltd (ASX: CIA) also finds itself in record territory, adding 1.72% to $7.67 on Friday.

Australia’s 5th largest iron ore producer Mineral Resources Limited (ASX: MIN) is on track to have hit a new record high every week, for the past 8 weeks.

The Mineral Resources share price hit an intraday record high of $65.38 and is currently up 1.07% to $64.10.

Lithium

ASX 200 shares in the lithium sector are surging across the board following a record close for the Global X Lithium & Battery Tech Exchange Traded Fund overnight.

The global lithium ETF invests in the full lithium cycle, from explorers and miners through to battery production and automakers.

The Galaxy Resources Limited (ASX: GXY) could be in for a record close after surging 6.44% to $4.79. Its shares have rallied more than 100% year-to-date.

Similarly, Orocobre Limited (ASX: ORE) is also eyeing a record close, adding 5.39% to $8.41.

IGO Ltd (ASX: IGO) is a diversified miner focused on the production of battery and renewable related metals including copper, nickel, cobalt and lithium.

The IGO share price is another record setting ASX 200 share, lifting 3.62% to $9.31.

The post ASX 200 shares in this sector pushing into record highs on Friday appeared first on The Motley Fool Australia.

More reading

• Why the BHP (ASX:BHP) share price just hit a new all-time high this Friday
• Why Janus Henderson, Mineral Resources, Telix, & Western Areas are rising
• ASX lithium shares are surging this Friday. Here’s why.
• ASX 200 midday update: NAB’s $2.5bn buyback, Origin shares sink
• Mineral Resources (ASX:MIN) share price hits another record high after quarterly update

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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It has been another busy week for Australia’s top brokers. This has led to the release of a large number of broker notes.

Three broker buy ratings that have caught my eye are summarised below. Here’s why brokers think these ASX shares are in the buy zone:

Macquarie Group Ltd (ASX: MQG)

According to a note out of Morgans, its analysts have retained their add rating and lifted their price target on this investment bank’s shares to $172.30. This follows the release of the company’s first quarter update, which revealed significant profit growth on the prior corresponding period. And while Macquarie has reduced its target dividend payout ratio, the broker isn’t concerned. It notes that Macquarie’s payout ratio has rarely gone beyond its new 50% to 70% range in the last five years. Outside this, the broker likes Macquarie due to the strength of its balance sheet and solid medium term outlook. The Macquarie share price is fetching $157.46 today.

Pilbara Minerals Ltd (ASX: PLS)

A note out of Macquarie reveals that its analysts have retained their outperform rating and increased their price target on this lithium miner’s shares to $2.00. Although the broker felt the company’s operational performance was poor during the fourth quarter, it remains bullish. This is due to the ramp up of the Ngungaju project, strong spot prices, and its potential downstream joint venture plans with POSCO. The Pilbara Minerals share price is trading at $1.77 today.

Pointsbet Holdings Ltd (ASX: PBH)

Analysts at Ord Minnett have retained their buy rating but cut their price target on this sports betting company’s shares to $13.60. This follows the release of its fourth quarter update and the announcement of a $400 million capital raising. This capital raising is expected to help the company grow its market share in the United States and expand its footprint to 18 US states by the end of 2022. The PointsBet share price was last trading at $11.29.

The post Brokers name 3 ASX shares to buy today appeared first on The Motley Fool Australia.

More reading

• Macquarie (ASX:MQG) share price edges lower after signalling dividend cut
• ASX lithium shares are surging this Friday. Here’s why.
• What’s going on with the Pilbara Minerals (ASX:PLS) share price today?
• ASX 200 rises, Fortescue up, Airtasker climbs
• Nuix (ASX:NXL) share price rises on Macquarie’s IPO review verdict

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Pointsbet Holdings Ltd. The Motley Fool Australia owns shares of and has recommended Macquarie Group Limited. The Motley Fool Australia has recommended Pointsbet Holdings 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 Qantas Airways Limited (ASX: QAN) share price is facing some turbulence after a federal court ruled it had outsourced jobs contrary to the Fair Work Act.

At the time of writing, shares in the national carrier are trading for $4.61 – down 0.22%. The S&P/ASX 200 Index (ASX: XJO) is 0.03% lower for context.

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

Qantas share price down with court loss

In his findings, Justice Michael Lee agreed with the Transport Workers Union’s (TWU) argument that Qantas’ decision to outsource around 2,000 jobs was partly motivated by employee membership in the union.

Under the Fair Work Act, an employer is prohibited from making a decision about redundancies or firings based on union membership

Qantas rebutted the outsourcing was only due to financial pressures, particularly those brought on by the COVID-19 pandemic.

However, Justice Lee did not agree with that assessment.

“The operational disruptions caused by the pandemic were, viewed as at November 2020, likely to continue for some time but not, mercifully, indefinitely,” Justice Lee said.

“I am not satisfied that Qantas has proved on the balance of probabilities that (Qantas domestic and international chief executive Andrew) David did not decide to outsource the ground operations for reasons which included the Relevant Prohibited Reason.”

This legal loss may be affecting the Qantas share price.

Qantas responds

In a media statement, Qantas confirmed it will appeal today’s judgement.

“The TWU has put forward its persecution complex that our decision to save $100 million a year in the middle of a global downturn was really about stopping them from walking off the job at some time in the future,” said Qantas group executive John Gissing.

“Qantas was motivated only by lawful commercial reasons, and this will be the subject of our appeal.”

Furthermore, Qantas stands by its argument the only factor motivating its decision to outsource these ground handling jobs was the financial implications of COVID.

The company points to the fact that pre-pandemic it was actively recruiting new staff for ground handling as evidence that COVID was the force majeure that prompted its decision.

In what may be a saving grace for the Qantas share price, the company confirmed it does not have to reinstate any workers lor pay any penalties or compensation – at least for now. Qantas says it will oppose any such orders if they are made.

Qantas share price snapshot

Over the past 12 months, the Qantas share price has increased by around 36%. The ASX 200 is up around 23% over the same period. Additonally, Qantas has outperformed the ASX 200 by more than 11 percentage points in the last 5 years.

Qantas Airways has a market capitalisation of $8.7 billion.

The post Qantas (ASX:QAN) share price drops after federal court loss 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 8common Ltd (ASX: 8CO) share price has returned to the ASX boards today to double in value. This comes after the software solutions provider announced its subsidiary, Expense8 has been selected in the GovERP panel of service providers.

At the time of writing, 8common shares are up an astonishing 95.45% to 22 cents. It worth noting that its shares reached an all-time high of 24 cents during market open.

8common sets eyes on growth

Investors are fighting to get a hold of 8common shares after the company released an upbeat announcement.

In a statement to the ASX, 8common advised that Expense8 will be the solution provider of Travel and Expense Management for GovERP.

The acronym GovERP stands for Government Enterprise Resource Planning. Essentially, this is a system comprising a number of important corporate capabilities to deliver services. It includes financial services, human resource services, procurement services and reporting.

GovERP is part of the Australian government’s Shared Services Transformation Initiative in providing resourcing and services across the public sector.

Under the agreement, Expense8 will be available under a pre-selected panel of service providers. Expense8 will be the provider under the Travel Value Stream and Expense Management Value Stream for the Shared Services Program.

The government’s GovERP panel covers 90 commonwealth agencies with over 130,000 employees that participate in the Shared Services Program.

8common stated that it currently generates a Federal Government Average Revenue Per User (ARPU) of $42. The company services around 20,000 government employees across 27 different agencies.

In the past 12 months alone, 10 Federal Government agencies have been onboarded, delivering implementation revenue of $540,000.

The GovERP platform is expected to be up and running in mid-2022. The first agencies to onboard to GovERP will be the Service Delivery Office and its clients during the middle of 2023.

Management commentary

8common CEO, Andrew Bond said:

We are delighted to be included in the GovERP Panel of service providers. Our appointment is a testament to the quality of the Expense8 platform and our ability to meet the high level of service offering and security sought as part of the tender process for this whole of government initiative.

The addition of Expense8 to the GovERP panel provides a significant ability for 8common to substantially grow our footprint within Federal Government and significantly increase our implementation revenue and transaction-based SaaS recurring revenue over the coming years.

8common share price snapshot

Investors would be excited by the company’s strong share price gain today, reflecting quadruple returns over the past 12 months.

Based on valuation metrics, 8common has a market capitalisation of roughly $42.1 million, with approximately 200 million shares on issue.

The post Here’s why the 8Common (ASX:8CO) share price is rocketing 95% today appeared first on The Motley Fool Australia.

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• Why the Prescient (ASX:PTX) share price is surging 8% today
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• Here’s why the BARD1 (ASX:BD1) share price is falling 7% today
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• Why Janus Henderson, Mineral Resources, Telix, & Western Areas are rising

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 Prescient Therapeutics Ltd (ASX: PTX) share price is off to the races, up 8% to 19.5 cents in early afternoon trade.

Prescient is a clinical-stage oncology company focused on developing personalised treatments for cancer.

Below, we take a look at the ASX healthcare share’s quarterly results for the period ending 30 June.

What did Prescient report?

The Prescient share price is lifting after the company reported it remained in a strong financial position, with a number of cancer programs on track for “value-creating milestones”.

The ASX healthcare share had a cash balance of $16.1 million as at 30 June. It reported cash outflows for the quarter of $1.14 million, including $280,000 for research and development (R&D) in Australia and the United States.

Other costs included “ongoing clinical studies of PTX-100 and PTX-200; research and development of OmniCAR and cell therapy enhancements”.

Prescient said that prudent financial management and its strong cash balance placed it in a good position with its ongoing development of targeted and cellular cancer therapies.

During the reporting quarter, the company signed a research partnership with the Peter MacCallum Cancer Centre (Peter Mac) with the goal of speeding up development of the next generation CAR-T therapy using the OmniCAR platform. This comes in addition to an earlier agreement between Prescient and Peter Mac announced in August 2020.

Prescient will own any intellectual property that may result from the research partnership.

The company said its cell therapy enhancement (CTE) programs are now being undertaken solely at Peter Mac.

It reported its “targeted therapy studies for PTX-100 and PTX-200 continue to make excellent progress and enrol patients with no safety issues reported by investigators”.

Prescient share price snapshot

The company’s shares have soared 225% over the past 12 months, flying past the 24% gains posted by the All Ordinaries Index (ASX: XAO).

Year-to-date, the Prescient share price has continued to outperform, up 179% so far in 2021.

The post Why the Prescient (ASX:PTX) share price is surging 8% today appeared first on The Motley Fool Australia.

More reading

• Prescient Therapeutics (ASX:PTX) share price flat after trial success news
• The Prescient (ASX: PTX) share price is surging 12%. Here’s why
• Why is the Prescient (ASX:PTX) share price down 16% this week?
• The Prescient (ASX:PTX) share price rocketed 10% higher today. Here’s why

Motley Fool contributor 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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