The Lynas Rare Earths Ltd(ASX: LYC) share price will be in investor’s sights today.
This comes after the rare earths producer released its June quarterly report. At the time of writing, the Lynas share price is sitting at $6.43.
Why is the Lynas share price in focus?
The Lynas Rare Earths share price could be one to watch today following the company’s release of its quarterly activities report.
According to the release, both sales revenue and receipts were record setters for Lynas. During the quarter the company recorded $185.9 million in sales revenue and $192 million in sales receipts. For comparison, Lynas reported $38 million in sales revenue in the 2020 June quarter.
The uptick in revenue and receipts came from increased production of rare earth oxides (REO) of 46.5% on the prior corresponding period to 3,778 tonnes. Meanwhile, neodymium and praseodymium (NdPr) production came in at 1,393 tonnes – representing a 79.7% increase on the prior corresponding period. These high rates of growth will likely draw attention to the Lynas share price today.
Also aiding the company’s increased sales was a higher average selling price for the rare earths. The average price per kilogram almost doubled over the year, from $20.20 per kilo in Q4 FY20 to $39.10 per kilo in Q4 FY21.
Furthermore, Lynas’ cash balance closed at $680.8 million for the quarter – an increase of 19.7% on its balance at the end of the previous quarter.
Further progress
During the quarter the company progressed its Lynas 2025 projects. These include its rare earths processing facility in Kalgoorlie and the proposed integrated United States processing facility. Currently, the US Department of Defense is reviewing detailed work submissions.
In addition to this, preparation for the next mining campaign at its Mt Weld site is underway.
Last week the company also received a $14.8 million grant from the Australian government’s Modern Manufacturing Initiative.
A look at share price performance
The Lynas Rare Earths share price has been one of the best in the S&P/ASX 200 Index (ASX: XJO) over the past year. Any shareholder that has held onto the company’s shares has been rewarded a 200% rise in the past 12 months.
However, due to the rocketing share price outpacing Lynas’ earnings, the company’s price-to-earnings (P/E) ratio has jumped to 417 times. Comparatively, the Australian metals and mining industry average P/E ratio is 13.1 times.
Should you invest $1,000 in Lynas Rare Earths right now?
Before you consider Lynas Rare Earths, you’ll want to hear this.
Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Lynas Rare Earths wasn’t one of them.
The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.
Motley Fool contributor Mitchell Lawler owns shares of Lynas 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 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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AMP Ltd (ASX: AMP) shares appear to be under the pump right now. Shares in the Aussie financial services group are down 30.1% year-to-date and 81.2% in the last 5 years.
But if there is one thing investors love, it’s dividends. On October 1 2020, AMP paid a A$0.10 per share fully franked dividend. That was a special dividend after the sale of AMP Life in June 2020 for A$3 billion. In the group’s March 2021 update, however, the board resolved to not declare a final full-year 2020 dividend.
That has left many wondering what AMP shares will be paying out to investors this time around.
How do AMP shares compare to the financial sector on dividends?
At present, the Motley Fool website is tracking AMP shares’ dividend at $0.14 per share, franked to 90%. Given the financial services group’s recent struggles, that is based on the most recent interim and final dividends available. As the figure below shows, AMP’s dividend has been in decline in recent years.
Figure 1. AMP dividend payments by year
Source: Fool.com.au, Author’s own
Using $0.14 per share as the basis for analysis, AMP would currently have a dividend yield of 3.07%. So, how does that stack up against other financial services shares on the ASX?
An obvious comparison would be the Aussie banks. The major banks’ dividend yields as at 26 July 2021 are listed in the table below:
It’s clear that the major banks (including Macquarie) have dividend yields between 2.50% and 3.79%. That would mean a 3.07% dividend yield on AMP shares wouldn’t be too far away from par for the course in the Financials sector.
However, the big if here is whether or not AMP will declare a dividend for 2021. That is far from a certainty given the significant change being undergone and a restructure of the broader AMP umbrella group of businesses.
If AMP could manage a $0.14 per share full-year dividend, that 3.07% dividend yield looks to be roughly in line with many of the large financial services institutions. However, at present, there’s no guarantee of any payment from the Aussie wealth group.
Foolish takeaway
AMP shares have been under pressure for quite some time. Scandals, leadership changes and the 2018 Financial Services Royal Commission have combined to create a challenging environment for the Aussie wealth group.
Investors will be waiting to see what dividend, if any, will be declared by the board. That will then provide a better idea of how AMP measures up against many of its Financials sector peers on the ASX.
Before you consider AMP, you’ll want to hear this.
Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and AMP wasn’t one of them.
The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.
Motley Fool contributor Ken Hall 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 Macquarie 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 BHP Group Ltd(ASX: BHP) share price has rallied 8.5% in the last month to a close of $51.27 on Friday.
Shareholders in the iron ore major have their eyes set on the previous record high of $51.91, recorded on Friday 16 July.
Why the BHP share price continues to test record highs
The bullish performance of BHP shares has been supported by record-setting movements from the broader equity markets.
Last Friday, the S&P/ASX 200 Index (ASX: XJO) and major US indices, the Dow Jones Industrial Average, S&P 500 and Nasdaq all closed at record highs.
In addition, iron ore spot prices have remained elevated, trading at US$216.03, according to Market Index.
Meanwhile, the Australian Bureau of Statistics has also released preliminary estimates of international merchandise trade, reporting a record $20.49 billion from metalliferous ores.
More specifically, the ABS states: “This is the fourth consecutive record month for metalliferous ores. Driving the increase was iron ore, up $1,043m (6%) to $17,553m. The iron ore increase was primarily price-driven despite recent pressure to reduce prices.”
Iron ore spot prices higher, but Chinese futures lower
While current iron ore spot prices bode well for the BHP share price, futures contracts aren’t looking too rosy.
Iron ore futures contracts on China’s Dalian Commodity Exchange experienced their steepest weekly fall in 17 months last week.
According to Mining.com, “The most active September contract on China’s Dalian Commodity Exchange has fallen roughly 10% from last week, its biggest weekly drop since February 2020.”
“Iron ore’s most-traded August contract on the Singapore Exchange dipped 0.2% to $197.25 a tonne.”
Mining.com reported that China is looking to drive its steel output lower, with authorities asking “steel mills to ensure their output this year will be no more than 2020 volumes, after first-half production rose roughly 12% from the same period last year”.
Foolish Takeaway
While iron ore spot prices have remained higher, China continues to tamper with domestic consumption and supply.
Between May and June this year, China announced plans to increase domestic iron ore production, improve domestic management of commodities and release state reserves to stabilise prices.
During this time, the BHP share price tumbled from highs of $51.74 on 11 May to lows of $45.82 by 21 June.
Before you consider BHP, you’ll want to hear this.
Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and BHP wasn’t one of them.
The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.
Motley Fool contributor Kerry Sun has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has 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 Westpac Banking Corp(ASX: WBC) share price is relishing a good year on the ASX.
It’s currently 25.88% higher than it was at the start of 2021 with the company’s shares closing at $24.71 apiece on Friday.
The performance of Westpac shares this year is significantly better than some of its peers on the S&P/ASX 200 FinancialsIndex (ASX: XFJ). Year to date, the financials index has gained 16.49%.
The banking giant is the top performing big bank in 2021 so far. However, Westpac isn’t the top dog of the ASX 200 financials sector.
ASX 200 financial shares in 2021
The ASX 200 financials sector is currently led by Virgin Money UK CDI(ASX: VUK), which has gained 48.94% in 2021.
AUB Group Ltd(ASX: AUB), Janus Henderson Group CDI(ASX: JHG), and Zip Co Ltd(ASX: Z1P) aren’t far off Virgin’s tail, having gained 40.36%, 28.38%, and 26.83% respectively.
The sector’s heaviest weight is AMP Ltd(ASX: AMP), which has fallen 30.13% year to date.
Let’s take a look at what’s been driving the Westpac share price to be one of the five top performing ASX 200 financial stocks of 2021 so far.
Westpac’s year so far
The Westpac share price hasn’t fared well in the past month or so.
However, prior to these events, it was tracking well.
As The Motley Fool reported last month, Westpac’s 58 cent dividend and $3.44 billion cash profit, reported in its half year results, are likely why the market’s been excited by Westpac.
Before you consider Westpac, you’ll want to hear this.
Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Westpac wasn’t one of them.
The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.
Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned.
The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended ZIPCOLTD FPO. The Motley Fool Australia has recommended Austbrokers Holdings 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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Motley Fool Australia Chief Investment Officer Scott Phillips joined Nine’s Late News on Sunday night to explain why JobKeeper (and JobSeeker) should be restored, plus looked ahead to this week’s inflation numbers, and the outlook for unemployment with half of the country in lockdown.
Wondering where you should invest $1,000 right now?
When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.
Motley Fool contributor Scott Phillips 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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“I generally like to buy and tip quality companies that the market is beating up on,” finance commentator Peter Switzer said on his website.
“And because I’m a long-term investor, I wait for short-term sets against good companies and buy them when others are selling.”
Go for the ‘unpopular’ ASX shares
Sure, there are the evergreen quality names like Wesfarmers Ltd (ASX: WES), Commonwealth Bank of Australia (ASX: CBA) and BHP Group Ltd (ASX: BHP).
But they’re not the ones Switzer would target right now.
“While I think they will go up in price over the next year, I want to now buy the companies that are unpopular because of the coronavirus and the lockdowns.”
Here are half-a-dozen ASX shares that Switzer wants to snap up:
“It’s badly affected by the virus, the slow vaccinations, the lockdowns and the uncertainty of when life gets back to normal,” he said.
“It’s now priced at $4.53 but the expert company analysts (who get paid to guess future profits and prices of businesses) think Qantas will be a $5.79 stock in the future, which is 27.9% higher!”
Webjet is in a similar position, with Switzer calculating a 16.4% upside among analysts.
“Webjet isn’t one of my blue chip quality companies. It’s a more speculative stock,” he said.
“However, if it can survive these current headwinds, it could become a quality performer.”
Appen is also a bit of a punt, but Switzer reckons there’s money to be made even in the bottom-side scenario.
“The experts think there’s 67% upside! Now these guys could be wrong about this speech data company, but even if they’re only 33% right, that would suggest a 20% upside,” he said.
“The company was a $26 stock before the coronavirus crash, so at $12.50, it could easily see an improved share price as normalcy comes to town.”
Tyro’s payment terminals are highly dependent on physical retail activity, and that can only go up from here.
“As hospitality gets back to normal, Tyro should benefit,” said Switzer.
“Before the crash, Tyro was a $4.38 stock. It’s now $3.40. The analysts see it heading towards $4.04, which suggests there’s a potential 18.5% upside.”
‘Businesses of the future’
Switzer labelled Zip as a “potentially good performer”, while acknowledging the increased competition from giants like the CBA, Paypal Holdings Inc (NASDAQ: PYPL) and Apple Inc (NASDAQ: AAPL).
“I think these are businesses of the future.”
CSL is one of Australia’s “best businesses”, according to Switzer, but has been pummeled by the COVID-19 pandemic.
“Stock price is now at $290. Before the virus, [it] was a $336 stock! If CSL comes back next year, that would be a 16% gain.
“The company’s biggest profit-maker is collecting plasma in the US, and the virus concerns scared off a lot of its donors who get paid to give blood. As normalcy comes back, demand for blood will rise, and that will be good for CSL’s bottom line.”
Switzer himself put his money where his mouth is, revealing that he has bought all 6 stocks.
“They’re not without their risks but I suspect they’ll be pretty good performers over the next 12 months.”
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When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.
Motley Fool contributor Tony Yoo owns shares of Appen Ltd, CSL Ltd., PayPal Holdings, Qantas Airways Limited, and Webjet Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Appen Ltd, Apple, CSL Ltd., PayPal Holdings, Tyro Payments, and ZIPCOLTD FPO. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended the following options: long January 2022 $75 calls on PayPal Holdings, long March 2023 $120 calls on Apple, and short March 2023 $130 calls on Apple. The Motley Fool Australia owns shares of and has recommended Appen Ltd, Webjet Ltd., and Wesfarmers Limited. The Motley Fool Australia has recommended Apple and PayPal Holdings. 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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As we approach the start of August, keen-eyed investors will be watching out for one thing: reporting season. August means many ASX companies report their half-year or full-year earnings, and National Australia Bank Ltd (ASX: NAB) shares will be on many investors’ radars.
Notably, NAB will actually not report its results until 9 November. That means shareholders have a long wait for further updates from the company itself compared to other investors. If you’re hungry for more info next month, here are a few things to watch out for in August that may impact NAB shares.
What factors could influence NAB shares in the August reporting season?
Perhaps the most obvious thing to watch is NAB’s own third-quarter trading update. NAB shares could be on the move following the company’s update scheduled for 12 August. However, there are other items that are also worth keeping an eye on next month.
Chief among them are the results of NAB’s fellow banks. Of particular note will be the Commonwealth Bank of Australia Ltd (ASX: CBA) full-year result on 11 August. Given the size and strength of the big four in Australia’s banking market, CBA’s results release will be hotly anticipated.
This could help investors work out how the banking sector, in general, has performed. It could also help inform expectations for net interest margins (NIMs), cash profits and loan impairments. On top of the purely financial information, commentary in the full-year results can provide an indication of what bank bosses are expecting in FY2022.
For many NAB shareholders, the CBA full-year result will likely be pencilled in on their calendars. CBA isn’t the only bank to be reporting earnings, however. Bendigo and Adelaide Bank Ltd (ASX: BEN) and Bank of Queensland Ltd(ASX: BOQ) results could provide an insight into how regional Australia is doing right now.
What about the residential mortgage market?
The housing market is on the minds of many Australians, but particularly those who own NAB shares. NAB has a significant proportion of the Australian residential mortgage market with $111.4 billion in risk-weighted residential mortgage assets as at 31 March 2021.
Therefore, for those who own NAB shares, one thing to keep an eye on could be Genworth Mortgage Insurance Australia Ltd (ASX: GMA). Genworth is one of two providers of lenders’ mortgage insurance (LMI) on home loans where deposits are less than 20%. That means Genworth generally does well when everyone pays for LMI with no defaults actually requiring the insurance payout to the lender.
A strong Genworth result could provide an indication of the residential mortgage market’s health right now. That would be worth watching if you’ve got an interest in NAB shares given the large proportion of residential mortgages held by the bank.
Before you consider NAB, you’ll want to hear this.
Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and NAB wasn’t one of them.
The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.
Motley Fool contributor Ken Hall 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 Commonwealth Bank of Australia(ASX: CBA) share price has been a very positive performer in 2021.
Since the start of the year, CBA shares have risen a sizeable 18%.
So, with its full year results just around the corner, expectations certainly are high for a strong report next month.
What to expect from CBA during reporting season
Investors have been bidding CBA shares higher this year in anticipation of a strong result next month. But just how strong is it expected to be?
According to a recent note out of Bell Potter, its analysts are forecasting a cash net profit after tax of $8.51 billion for the 12 months ending 30 June. This represents a 16.5% increase from a cash net profit after tax of $7.3 billion a year earlier.
Bell Potter also notes that this will mean its second half cash net profit has grown 19% over the first half of FY 2021.
The broker commented: “Our cash NPAT estimates on a continuing basis are increased by up to 20% mainly due to changes in loan impairment expenses (and with this decreasing to 6% in the following year). While we were caught off-guard by the speed of recovery in mainstream banking, we still expect operating income and operating expense growth to result in a 2-3% “Jaws” in the long term.”
The CBA dividend
Also giving CBA shares a boost this year has been optimism over its dividend. Especially given its improved performance and APRA removing dividend restrictions.
The note reveals that Bell Potter expects the CBA dividend to come in at a fully franked $3.34 per share in FY 2021. This comprises a final dividend of $1.84 cents per share and its interim dividend of $1.50 per share.
Based on where CBA shares are currently trading, this will mean a fully franked 3.35% dividend yield.
Are CBA shares in the buy zone?
Bell Potter currently has a hold rating and CBA share price target of $105.00.
Its analysts explained: “The price target is increased by $15.00 to $105.00 as such. CBA’s better dividend prospects in the medium term (yield reaching back to around 4.0% by 2023) and solid recovery in consumer, business and institutional banking may be intact but we have decided to lower the rating from Buy to Hold in the meantime.”
Before you consider CBA, you’ll want to hear this.
Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and CBA wasn’t one of them.
The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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The S&P/ASX 200 Index (ASX: XJO) has decisively shaken off the malaise of the previous week to post a bumper week of gains, pushing the ASX 200 to close last week at a record high level. It was a dramatic week of trading on the ASX 200 last week, with the flagship index posting a gain of 0.6%, enough to push it to close at a record high of 7,394.4 points.
The ASX 200 has, of course, seen higher levels than this, hitting more than 7,400 points last month for the first time ever. Even so, Friday’s close represents the highest level the ASX 200 has ever closed at. Semantics, perhaps, but still worthy of note.
So what happened on the share market last week that resulted in such an occurrence? Well, solid performances from most ASX 200 blue chips, as well as in the tech sector, all pulled it together.
ASX 200 blue chips rise, miners fall
The major ASX banks provided the foundation, with Commonwealth Bank of Australia(ASX: CBA) and Australia and New Zealand Banking Group Ltd(ASX: ANZ) the standouts, both gaining 0.95%.
Wesfarmers Ltd(ASX: WES), Coles Group Ltd(ASX: COL) and Woolworths Group Ltd(ASX: WOW) helped to step on the gas. Each of these companies managed gains of more than 3% last week, with Wesfarmers shares rising by an impressive 4.75% to close at a new all-time high of $61.93 per share on Friday. Woolies shares also hit a new post-demerger high of their own on Friday.
But perhaps the biggest contributors to the ASX 200’s heights last week were healthcare shares. This sector was up big across the board last week. CSL Limited(ASX: CSL) was a standout performer, putting on almost 6%. But other ASX healthcare shares like Cochlear Limited(ASX: COH), Sonic Healthcare Limited(ASX: SHL) and Ramsay Health Care Limited(ASX: RHC) also performed well.
As it turns out, the only major detractor for the ASX last week was the resources sector. After rising to record highs in the week prior, the big miners like BHP Group Ltd(ASX: BHP), Rio Tinto Limited(ASX: RIO) and Fortescue Metals Group Limited(ASX: FMG) went backwards last week. Rio shares were down more than 2.7% over the week that was, while BHP and Fortescue were both down by more than 1%.
How did the markets end the week?
Rather well, as you might have guessed. Monday and Tuesday both saw the ASX 200 start the week on the wrong foot, with back-to-back losses of 0.85% and 0.46%, respectively. But it was all upside from there. Wednesday turned the ship around with a gain of 0.78%. This was followed up with further gains of 1.06% on Thursday and 0.11% on Friday. In the end, the ASX 200 stared out at 7,348.1 points and finished up at 7,394.4 points for an overall gain of 0.63% for the week.
Meanwhile, the All Ordinaries Index (ASX: XAO) also enjoyed a week in the sun. The All Ords started off at 7,630.7 points and finished up at 7,670.9 points – placing its gains at 0.53% for the week.
Which ASX 200 shares were the biggest winners and losers?
It’s now Foolish gossip pages time, where we scandalously peek at the ASX 200’s biggest winners and poorest losers of the week. So put the kettle on as we, as always, start with the losers:
As you can see, ASX 200 gold miner Silver Lake (a rather misleading name) was the ASX’s wooden spooner last week, with a loss of 11.3%. Investors can largely thank a quarterly update released on Friday last week for this loss. This update reported lower gold sales over the quarter, which might have been what spooked investors.
ASX tech share Altium also had a clanger last week, shedding close to 10%. This downwards move comes after Altium put an end to takeover talks with the US company Autodesk. Autodesk had upped its offer for Altium from $38.50 to $40 per share, but in the end, the circuit board design software company said no cigar.
Silver Lake’s fellow gold digger Evolution Mining was also in the wars last week. This seemed to be a response to a number of broker downgrades that hit Evolution shares over the week. Things would have been a lot worse for this gold miner if it weren’t for the near-4.5% bump it got on Friday. This came after Evolution announced it would be buying some mining assets from another gold miner in Northern Star Resources Ltd(ASX: NST).
Finally, we had the embattled casino operator Crown Resorts. Crown shares tanked after rival Star Entertainment Group Ltd(ASX: SGR) revealed it was no longer interested in a merger, at least for now.
Now with the losers out of the way, let’s check out the ASX 200 winner’s from last week:
Last week’s ASX 200 winner was healthcare company Polynovo. Investors were clambering to pick up shares of this company last week, despite no major news or announcements out. Until the end of the previous week, Polynovo had been on quite a long slide, so perhaps some bargain-hunting investors finally saw some value.
Miner Iluka was also on form last week, rising 10%. In this case, it seems a quarterly update was the source of investors’ optimism here. Iluka announced a 75% jump in revenues for the quarter on Thursday, alongside a 71% surge in zircon production.
The aforementioned tech share Nuix was our third ASX 200 winner last week, despite no major news or announcements. Like Polynovo, Nuix had previously been exploring new share price depths, so this might have been the result of some value-driven buying here.
Finally, we had engineering company CIMIC. In this case, it was a set of half-yearly results that seemed to catch eyes last week. The company reported rises in both revenues and profits for the 6 months to 30 June 2021. On the former, the company managed an increase of 10.6%. Clearly, more than one investor was impressed.
A wrap of the ASX 200 blue-chip shares
Before we… wrap things up, here is a look at how the ASX 200’s blue-chip shares are looking as we start the last trading week of July:
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When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.
Motley Fool contributor Sebastian Bowen owns shares of National Australia Bank Limited, Newcrest Mining Limited, Ramsay Health Care Limited, and Telstra Corporation Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended AFTERPAY T FPO, Altium, CSL Ltd., Cochlear Ltd., POLYNOVO FPO, and Xero. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Nuix Pty Ltd. The Motley Fool Australia owns shares of and has recommended AFTERPAY T FPO, Altium, COLESGROUP DEF SET, Macquarie Group Limited, Telstra Corporation Limited, Wesfarmers Limited, and Xero. The Motley Fool Australia has recommended Cochlear Ltd., Ramsay Health Care Limited, and Sonic Healthcare Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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If you’re a fan of mid cap shares then you’re in luck. Right now, there are a number of mid caps trading on the ASX that could have a lot of potential.
Two which could be worth keeping a close eye on are listed below. Here’s what you need to know about them:
The first mid cap ASX growth share to watch is Audinate. It is a digital audio-visual networking technologies provider best known for its innovative Dante audio over IP networking solution. This solution is used widely across the professional live sound, commercial installation, and recording industries globally.
Demand for Dante softened during the height of the pandemic but has rebounded very strongly. For example, it recently released an update which revealed full year FY 2021 revenue of US$25 million. This was up 23% on the prior corresponding period.
Audinate also revealed a record backlog of committed sales orders for FY 2022. This bodes well for its growth in the new financial year. This should be supported by its recent expansion into the video market.
Another mid cap ASX growth share to watch is Dubber. It is a software company that provides businesses with a scalable call recording service. This service has been adopted as core network infrastructure by multiple global leading telecommunications carriers across multiple continents.
Dubber’s cloud-based technology allows businesses to record, manage, and analyse their phone calls and communications. They can even use artificial intelligence to analyse the emotions and stress levels of a caller.
The company has been experiencing growing demand for its offering, which is underpinning very strong growth in active customers and revenue. For example, during third quarter of FY 2021, the company revealed a 158% increase in annualised recurring revenue (ARR) to $34 million. This is still only a small slice of its overall market opportunity estimated to be 100 million users.
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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 AUDINATEGL FPO and Dubber Corporation. The Motley Fool Australia owns shares of and has recommended AUDINATEGL FPO and Dubber Corporation. 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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