There are some exciting ASX shares that have been rated as buys by multiple brokers, suggesting that they could be strong contenders for your attention.

If several brokers think a business is a buy then it may mean an opportunity is staring the market in the face. Or perhaps all of the brokers are wrong at the same time.

Here are two ASX shares that are highly rated:

Baby Bunting Group Ltd (ASX: BBN)

Baby Bunting is the leading baby and infant product retailer in Australia. It has a national store network, with approximately 60 shops around Australia. It has plans to grow to over 100 stores in Australia over time.

But that’s not the only focus of the business. Baby Bunting is investing in its digital capabilities to satisfy the post-COVID e-commerce demand. Whilst website site visits increased by 39% during the FY21 first half period, the conversion rate improved 66 basis points and total online sales rose 95.9%.

Baby Bunting is currently rated as a buy by at least five brokers, including Morgan Stanley which has a price target on the ASX share of $6.30.

The company is seeing profit rise faster than sales growth, which is positive for shareholder returns. FY21 half-year sales rose 16.6% and pro forma net profit increased 43.5% to $10.8 million. That was thanks to operating leverage with various parts of the business, including the gross profit margin growing by 41 basis points.

Baby Bunting has increased its growth prospects with plans for New Zealand expansion. The first store is expected to open in FY22 as part of a network of at least 10 stores.

FY21 second half growth is expected to be solid, with comparable store growth for the first six weeks at the second half of 18.5%

According to Morgan Stanley, the Baby Bunting share price is valued at 27x FY22’s estimated earnings.

Australian Finance Group Ltd (ASX: AFG)

Australian Finance Group is one of the biggest mortgage brokers in the country. The company has around 3,000 affiliated mortgage brokers. It’s currently rated as a buy by at least three brokers including Macquarie Group Ltd (ASX: MQG) with a price target of $3.06.

It is benefiting from the strong market conditions for real estate. It said in its FY21 half-year result that it experienced year on year growth of residential settlements in each month, with strong growth in each state. The residential trail book increased by 5% to $160 billion. HY21 residential settlements went up 24% to $20.9 billion.

The ASX share revealed its profit rose quickly during the first half, with statutory net profit going up 36% to $25 million and underlying cash profit rising 41% to $24.9 million. Earnings per share (EPS) went up 9% to 9.2 cents.

The growth has continued into the second half of FY21 with January 2021 residential volume rising 28% to $4.8 billion.

AFG management said that it has a strong balance sheet, no debt, a solid pipeline of lodgements and good cashflow.

It paid an interim dividend of 5.9 cents per share. Macquarie thinks it’s going to pay a full year dividend of 12.3 cents, translating to a grossed-up dividend yield of 6.4%.

More reading

• Why the IntelliHR (ASX:IHR) share price is soaring 16% today
• Baby Bunting (ASX:BBN) share price: all-time highs and potential teething issues
• 3 ASX retail shares at record highs
• 2 great ASX dividend shares rated as buys by brokers
• 2 quality ASX shares rated as top buys by brokers

Motley Fool contributor Tristan Harrison 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 Australia has recommended Baby Bunting. 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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For much of 2021 so far, there has been raging debates over the future emergence and potential impact of inflation. With unprecedented governmental intervention and stimulus across all major economies of the world last year in response to the pandemic, attention has now shifted to the aftermath of these policies. And fair enough too. Every economics out there would probably agree that “uncharted territory’ is the aptest description of the current state of the global economy. After all, as we covered a few months ago, more than one in every five US dollars in existence today was created in 2020. That sort of occurrence is truly hard to wrap your head around. And it does accentuate the question of future inflation even further.

So what does the great Warren Buffett think of all this? At 90 years of age, he is someone that has unquestionably ‘been around the block’. As such, many investors like to turn to him in times of uncertainty and worry for some sage advice.

Buffett on inflation

Well, Buffett’s company Berkshire Hathaway Inc. (NYSE: BRK.A)(NYSE: BRK.B) held its much-anticipated annual meeting last weekend. And Buffett himself did answer a question on inflation. Here’s some of what he said in response:

We’re seeing very substantial inflation. It’s very interesting. We’re raising prices. People are raising prices to us, and it’s being accepted. Take home building…. The costs are just up, up, up. Steel costs, just every day they’re going up.. So it’s an economy really, it’s red hot. And we weren’t expecting it.

Buffett is fairly unequivocal here, he certainly does see inflation. Interestingly, he points out that it appears to be a function of a ‘red hot’ economy, as opposed to a stagflation event (inflation with no growth).

So case closed, right? We should all start preparing for high inflation? Well, if you look at Buffett’s comments in addition to what Berkshire’s vice-chair (and Buffett’s eventual successor) Greb Abel had to say, the waters get muddied a bit. Here’s some of what Mr Abel said of inflation:

When we look at steel prices, timber prices, any petroleum input, fundamentally there’s pressure on those raw materials… There’s a scarcity of product right now of certain raw materials. It’s impacting price and the ability to deliver the end product….And it may be some of that’s contributed or arisen from the storm we previously discussed in Texas. When you take down that many petrochemical plants in one state that the rest of the country is very dependent upon it, we’re seeing it flow through

But is money printing at fault?

So reading between the lines here, the two gentlemen are talking about inflation primarily in the commodities space. Of course, commodities form a foundation for the rest of the economy. But perhaps it’s not all of the ‘printed money’ that’s causing this commodity inflation. Perhaps it’s just commodity supply chain whiplash that has come from the massive disruptive shock of the pandemic. Remember, many resources companies had to adapt to commodity prices like oil dropping off a cliff in a very short space of time. That is bound to cause some issues when economic demand resumes at a rapid pace. And we still haven’t seen too much evidence from the US Federal Reserve (or the Reserve Bank of Australia) that inflation is rising rapidly.

That would make sense alongside the effects of the Texas storm that Mr Able mentioned. Perhaps these supply chain kinks get ironed out over the next year or two, and the commodity pricing boom gets tempered with the natural operation of supply and demand. Maybe we go back to growth with no inflation.

Perhaps. Either way, we are still all in uncharted territory.

More reading

• These were the best performing ASX 200 shares last week
• 2 blue chip ASX dividend shares given buy ratings
• These were the worst performing ASX 200 shares last week
• ASX 200 rises, Macquarie falls, Magellan declines
• Do brokers think the Wesfarmers (ASX:WES) share price is in the buy zone?

Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Berkshire Hathaway (B shares) and recommends the following options: short January 2023 $200 puts on Berkshire Hathaway (B shares), short June 2021 $240 calls on Berkshire Hathaway (B shares), and long January 2023 $200 calls on Berkshire Hathaway (B shares). The Motley Fool Australia has recommended Berkshire Hathaway (B 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 S&P/ASX 200 Index (ASX: XJO) was on form last week and recorded a solid gain. The benchmark index rose 55 points or 0.8% to end the week at 7,080.8 points.

While a number of shares climbed higher with the market, some climbed more than most. Here’s why these were the best performers on the ASX 200 last week:

Resolute Mining Limited (ASX: RSG)

The Resolute share price was the best performer on the ASX 200 last week with a gain of 10.3%. This appears to have been driven by a solid rise in the gold price and the release of a broker note out of Macquarie at the very end of the previous week. In respect to the latter, the broker upgraded Resolute’s shares to an outperform rating with a 60 cents price target. The Resolute share price ended the week at 54 cents.

Iluka Resources Limited (ASX: ILU)

The Iluka share price wasn’t far behind with a gain of 10% over the five days. Investors have been buying this mineral sands company’s shares since the release of its quarterly update late last month. In fact, the Iluka share price is now up 15% since its release. That update revealed strong sales growth during the first quarter. Iluka reported a 48.4% increase in sales over the prior corresponding period to $344.5 million.

Silver Lake Resources Limited (ASX: SLR)

The Silver Lake share price was a positive performer and rose 8.6% last week. This appears to have been driven by the aforementioned rise in the gold price over the period. It wasn’t just Resolute and Silver Lake that were rising. The S&P/ASX All Ordinaries Gold Index rose a solid 3.5% over the five days.

QBE Insurance Group Ltd (ASX: QBE)

The QBE share price was on form and charged 7.8% higher over the period. Investors were buying the insurance giant’s shares following its annual general meeting. At the event, the company revealed a number of positive metrics that went down well with analysts. This led to Citi retaining its buy rating and lifting its price target to $12.00. The QBE share price ended the week at $10.63.

More reading

• These were the worst performing ASX 200 shares last week
• ASX 200 rises, Macquarie falls, Magellan declines
• The RBA just told us what’s going to happen with interest rates
• Telstra (ASX:TLS) and 2 other dividend shares with yields over 6% today
• ASX tech shares are in a world of pain. There might be more to come…

Motley Fool contributor James Mickleboro 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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Are you building an income portfolio? If you are, you might want to take a look at these highly rated ASX dividend shares.

Here’s what you need to know about them:

Australia and New Zealand Banking GrpLtd (ASX: ANZ)

The ANZ share price has been a very strong performer in 2021. This has been driven by a significant improvement in its performance.

For example, last week the bank released its half year results and revealed a statutory profit after tax of $2,943 million. This was a 45% increase on the second half of FY 2020.

The good news is that it doesn’t appear to be too late to invest for both capital returns and dividends.

According to a note out of Morgans from last week, its analysts have retained their add rating and lifted their price target on its shares to $33.50.

The broker is also forecasting fully franked dividends of $1.45 and $1.63 per share over the next two years. Based on the current ANZ share price of $27.75, this will mean yields of 5.2% and 5.9%, respectively.

Wesfarmers Ltd (ASX: WES)

Another ASX dividend share to consider is Wesfarmers. This leading conglomerate has been growing at a solid rate for many years and has been tipped to continue doing so over the next decade.

This is thanks to the quality and growth potential of its portfolio of leading retail brands. These include the likes of Bunnings, Catch, and Kmart. In addition, supporting its growth will be its industrial businesses and its investments in the lithium space.

Another big positive not to be overlooked is the company’s balance sheet. This provides Wesfarmers with significant firepower for potential earnings accretive acquisitions.

Last month Goldman Sachs retained its buy rating and $59.70 price target on the company’s shares.

The broker also reaffirmed its expectation for fully franked dividends of $1.83 per share and $1.94 per share in FY 2021 and FY 2022. Based on the current Wesfarmers share price of $54.26, this will mean yields of 3.4% and 3.6%, respectively.

More reading

• Do brokers think the Wesfarmers (ASX:WES) share price is in the buy zone?
• Telstra (ASX:TLS) and 2 other dividend shares with yields over 6% today
• Brokers name 3 ASX shares to buy now
• Macquarie (ASX:MQG) share price on watch after posting $3bn profit and 86% dividend increase
• Blue chip ASX 200 shares breaking out into 52-week highs

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of Wesfarmers Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Thanks to solid gains by the banks and miners, the S&P/ASX 200 Index (ASX: XJO) recorded a solid gain last week. The benchmark index rose 55 points or 0.8% to end the period at 7,080.8 points.

Unfortunately, not all shares were able to climb higher with the market. Here’s why these were the worst performers on the ASX 200 last week:

Appen Ltd (ASX: APX)

The Appen share price was the worst performer on the ASX 200 last week with a 21.5% decline. Investors were selling off the artificial intelligence (AI) data services company’s shares following the release of a presentation which provided colour on industry conditions. While management spoke positively about its position in the industry, it also revealed that its customers are changing the ways in which they develop projects. This has resulted in changing data volumes on a handful of large projects, impacting Appen’s revenue. The failure of management to comment on its guidance for FY 2021 also hit investor sentiment.

Nearmap Ltd (ASX: NEA)

The Nearmap share price wasn’t far behind with a disappointing 19.3% decline last week. This decline is all the more worse when you consider that the aerial imagery technology and location data company’s shares were up 14% on Wednesday following a strong trading update. The reason Nearmap’s shares gave back those gains and then fell further was news that it has been hit with legal proceedings. Rival Eagle View alleges patent infringement in relation to its roof estimation technology. While Nearmap has denied any infringement and will defend the complaint, it hasn’t stopped some shareholders from exiting.

Afterpay Ltd (ASX: APT)

The Afterpay share price was a very poor performer last week and dropped 18.9% over the five days. Weakness on Wall Street’s tech-focused Nasdaq index appears to have spooked investors. Particularly in the buy now pay later sector. The shares of rival US-based Affirm lost a quarter of their value between Friday 30 April and Thursday 7 May, dropping to a record low in the process.

Altium Limited (ASX: ALU)

The Altium share price was out of form and dropped 15% last week. This decline appears to have been driven by the aforementioned weakness in the tech sector. In addition to this, a number of shares that trade on high PE ratios came under pressure last week. Altium’s shares were trading at 60x estimated FY 2021 earnings at the end of the week.

More reading

• ASX 200 rises, Macquarie falls, Magellan declines
• Are there buying opportunities among ASX COVID fallen stars?
• The RBA just told us what’s going to happen with interest rates
• Why CSR, Fonterra, Nearmap, & Pro Medicus shares are dropping
• Telstra (ASX:TLS) and 2 other dividend shares with yields over 6% today

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 Appen Ltd and Nearmap Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. recommends Altium. The Motley Fool Australia owns shares of AFTERPAY T FPO and Altium. The Motley Fool Australia has recommended Nearmap 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 S&P/ASX 200 Index (ASX: XJO) went up 0.3% today to 7,081 points.

Here are some of the highlights from the ASX:

Macquarie Group Ltd (ASX: MQG)

The investment bank reported its FY21 result today. Its share price dropped 0.35% in reaction.

Macquarie reported that net profit grew 10% year on year to $3 billion. The second half of FY21 saw Macquarie generate $2 billion of profit, up 59% on the prior corresponding period.

The assets under management (AUM) fell 6% to $563.5 billion over the year.

Macquarie said that its financial position comfortably exceeds regulatory minimum requirements. It had surplus capital of $8.8 billion, with a bank CET1 ratio of 12.6%.

The ASX 200 share’s board declared a final dividend of $3.35 per share, bringing the FY21 dividend to $4.70 per share.

Macquarie CEO and managing director Shemara Wikramanayake spoke about the outlook:

Macquarie remains well-positioned to deliver superior performance in the medium term. This is due to our deep expertise in major markets, strength in business and geographic diversity and ability to adapt the portfolio mix to changing market conditions, an ongoing program to identify cost saving initiatives and efficiency, a strong and conservative balance sheet, and a proven risk management framework culture.

REA Group Limited (ASX: REA)

The REA Group share price went up more than 1% after releasing its FY21 third quarter update to investors.

For the quarter, it reported that revenue after broker commissions rose 8% to $225.6 million. Operating expenses also grew 8%, leading to underlying earnings before interest, tax, depreciation and amortisation (EBITDA) rising by 8% to $121.9 million. Including the share of profit and losses from associates, EBITDA went up 13% to $123.3 million. REA’s free cashflow went up by 5% to $65.4 million for the quarter.

The Australian residential property market saw national listings up 8%.

In terms of current trading, the ASX 200 share said the strength of the residential property market was evident in April, with increased levels of buyer enquiry underpinned by low interest rates, improving consumer confidence and healthy bank liquidity. National residential listings were up 98% year on year, with an increase in Melbourne of 127% and 116% in Sydney. The comparison period was during the COVID-19 period where listings dropped.

REA Group CEO Owen Wilson said:

Conditions are aligned for the Australian property market to continue its positive trajectory for the remainder of 2021. This momentum, combined with strategic investments made throughout FY21, positions REA for a strong finish to the year.

Magellan Financial Group Ltd (ASX: MFG)

The ASX 200 funds management company released its monthly update to 30 April 2021 today.

It reported an increase in funds under management (FUM) from $106 billion to $110.4 billion.

The global equities strategy saw FUM rise from $79.3 billion to $82.9 billion. Next, the infrastructure equities strategy saw FUM rise from $18.16 billion to $18.6 billion. Finally, the Australian equities strategy saw FUM growth from $8.56 billion to $8.9 billion.

The Magellan share price dropped by 0.4% today.

More reading

• The RBA just told us what’s going to happen with interest rates
• Telstra (ASX:TLS) and 2 other dividend shares with yields over 6% today
• Hamish Douglass loads the bag as Magellan (ASX:MFG) funds top $110bn
• How shares with massive PE ratios can be cheap
• ASX tech shares are in a world of pain. There might be more to come…

Motley Fool contributor Tristan Harrison owns shares of Magellan Financial Group. The Motley Fool Australia owns shares of and has recommended Macquarie Group Limited. 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 Wesfarmers Ltd (ASX: WES) share price has taken a breather from its all-time record high of $56.40 in February. 

The diversified conglomerate has held up relatively well compared to peers such as Woolworths Group Ltd (ASX: WOW) and Coles Group Ltd (ASX: COL) which have slumped in light of normalising consumer behaviour. 

At the market close today, the Wesfarmers share price was trading up 0.7% at $54.26.

Is the Wesfarmers share price in the buy zone? 

Macquarie weighed in on the Wesfarmers share price after its conference presentation on 5 May.

The broker looked to be impressed by the opportunities at hand to grow the diversified business. These include the expansion in chemicals, lithium production and growing regional distribution centres for Bunnings. 

The note also highlighted the company’s commitment to absorbing as much of the cost pressures as possible. This points to exploring opportunities with alternative suppliers to maintain competitiveness. 

The Macquarie rating is outperform with a $56.60 target price. 

Wesfarmers presentation highlights 

Surging online sales 

Wesfarmers has made a significant effort to drive its data and digital capabilities, which has seen its retail online sales surge to $2.0 billion in the first half of FY21, almost higher than the entirety of FY20 online sales. 

The company intends to continue to enhance its digital capabilities and improve the customer shopping experience. In the context of its Bunnings business, this includes increased online access to product ranges, enhancements to its product finder app and continue to support click/drive & collect services. 

WesCEF eyes lithium production 

WesCEF is the chemical, energy and fertiliser arm of the company. It recently approved the final investment decision of its Mt Holland lithium project, in partnership with Chile’s leading lithium producer, SQM. 

Wesfarmers estimated its expected share of total project capital expenditure to be approximately $950 million. The current indicative timeline for the project eyes construction to start in the second half of 2021 with production to begin in the second half of 2024. 

In its definitive feasibility study, concentrator and refinery production capacity was increased from 45ktpa to 50ktpa of sustainably sourced battery-grade lithium hydroxide, with capacity for a second phase expansion. 

To add some perspective, Vulcan Energy Resources Ltd (ASX: VUL) and its flagship Zero Carbon Lithium project is targeting 40ktpa lithium hydroxide production. 

Accelerating the growth of Kmart 

Wesfarmers has made Kmart the focal point of its department store business. This has seen 22 large format Target stores converted to Kmart stores, and 52 Target Country stores converted to the new K Hub format. 

The company plans to continue to support Kmart’s growth by accelerating its network growth to address key market gaps. This will hopefully unlock further scale benefits and deliver an earnings uplift for the group. 

More reading

• 2 high quality blue chip ASX 200 shares rated as buys
• ASX 200 Weekly Wrap: Shares have average week but a great month
• Wesfarmers (ASX:WES) share price on watch as Bunnings buys Beaumont Tiles
• 2 quality ASX dividend shares for May
• What’s going on with the Wesfarmers (ASX:WES) share price today?

Motley Fool contributor Kerry Sun has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of COLESGROUP DEF SET, Wesfarmers Limited, and Woolworths 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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It’s been an uneventful week for the Commonwealth Bank of Australia (ASX: CBA), but not for its share price.

While the bank hasn’t graced the market – or the broader mediascape – with much press-stopping news, shares in the bank have continued to creep upwards.

The Commonwealth share price closed at $93.92 today, 1.05% higher than yesterday’s close. That adds to a fantastic week’s performance from the bank’s share price which has gained 4.2% since Monday morning.

For comparison, the S&P/ASX 200 Index (ASX: XJO) has gained 0.2% this week.

Commonwealth Bank share price approaching its all-time high

Today, for the second week in a row, the Commonwealth Bank share price hit a 52-week high. The milestone was achieved at today’s intraday high when shares in the bank were swapping hands for $94.10.

Last fortnight, The Motley Fool Australia reported the Commonwealth share price looked like it had a chance to smash its previous all-time high of ~$96 (which it reached in 2015) this year.

While it’s not quite there yet, today undoubtably raised some hopes.

What’s new with CBA this week?

The Commonwealth share price started the week off on a good foot. Last Sunday, The Motley Fool Australia reported that Morgan Stanley analysts had kept their underweight rating but lifted the price target for the bank’s shares. The broker’s new price target for Commonwealth shares was $83.00.

Morgan Stanley suspected provision releases and more modest rises in underlying loss rates would support the earnings per share (EPS) upgrade cycle continuing. This could support the bank’s dividend to increase over the coming years.

On Tuesday, the banking giant announced it acquired health technology provider Whitecoat.

Whitecoat runs Australia’s largest digital healthcare services directory, allowing patients to find and book appointments with health service providers. Whitecoat also offers a digital health payment and claims solution with the ability to process payments through Medicare, private health insurance, and government schemes.

The Commonwealth Bank Group’s business banking executive Mike Vacy-Lyle said the acquisition supported the bank’s focus on healthcare as a growth sector, and it aimed to provide the best digital services and experiences to its customers. He said:

We recognise that by thinking differently and broadening our services, we can help our customers run their businesses more effectively.

More reading

• Australia’s trust in big banks up 19% in just 2 years: report
• Blue chip ASX 200 shares breaking out into 52-week highs
• ANZ Bank (ASX:ANZ) share price hit by broker downgrade post results
• Is it time to give the A2 Milk (ASX:A2M) share price another chance?
• Here are the US shares that ASX investors were buying last week

Motley Fool contributor Brooke Cooper 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.

The post How the Commonwealth Bank (ASX:CBA) share price moved this week appeared first on The Motley Fool Australia.

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The Cirralto Ltd (ASX: CRO) share price has been a huge mover on the S&P/ASX All Technology Index (ASX: XTX) this year, rising from just one cent to a high of over 11 cents per share.

The Cirralto share price is already in the news today and has closed down 7.3% at 6.3 cents per share after its latest investor presentation.  

Let’s take another look.

Cirralto’s ups and downs

Long-time investors may be familiar with the Cirralto story. It’s a technology investment company based in Australia, which acquires, develops and commercialises tech assets that modernise IT systems.

Data storage, migration and cloud-based computing are all key areas for the company. Its products include PoolBox, Flash Convert, Synk’d and its latest payment service, Spenda.

The company has attempted to enter the buy now, pay later (BNPL) space as a B2B offering over the past few months, which saw its share price surge and reach 12-month gains of 4,810% in March. 

Throughout this period its often seen daily gains of more than 200%, punctuated by significant weekly and monthly losses.

At its high, it raised $18 million in capital to launch Spenda in the BNPL market. After a period of work behind the scenes and share price drops, which perhaps reflected the ongoing investor uncertainty in this company, it upgraded its pay services at the beginning of May.

It was potentially seen as being late to the party after such high initial BNPL interest, and that appears to have hurt trust in the company. The company’s latest financial reports show a 25% increase in cash receipts, 12% increase in customer numbers, and 18% increase in merchant turnover.

Still, the Cirralto share price falls.

The company believes Spenda has a market advantage because it can provide payment services cheaper than most of its rivals on the market, and it has a higher level of integration with a range of existing platforms.

It’s currently tightly marketing Spenda in key areas, where it hopes to create notable efficiencies in connecting consumers, retailers and manufacturers throughout the payment process.

Foolish takeaway

Despite seemingly positive reports from the company this month, some investors clearly believe it has been overhyped. The Cirralto share price has lost 22% in the past month and has declined on 13 of the past 30 days. 

It’s easy to see why Cirralto could drive this kind of hype. It’s a company that appears to have many of the right pieces: strong sales growth, cloud-based IT systems, BNPL technology, high profile financial partnerships and a huge market capitalisation for a six-cent share.

But it’s also proven a little nerve-wracking, and some director share sell-offs in hard times create an uneasy feeling. It’s also been exceptionally volatile in a period that’s seen a boom in ASX technology shares, with no shortage of quiet achievers on the index. 

More reading

• What’s going on with the Cirralto (ASX:CRO) share price today?
• Could this quarterly sink or swim the Cirralto (ASX: CRO) share price?

Motley Fool contributor Lucas Radbourne-Pugh 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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SSR Mining Inc CDI (ASX: SSR) shares were among the top performers on the All Ordinaries Index today after the company released its financial statements for the first quarter of 2021. By market close, the SSR share price had jumped 7.81% higher to $22.10.

SSR Mining is a huge gold exploration company spread across the United States, Turkey, Canada, and Argentina. It also has a global pipeline of development and exploration assets in the US, Turkey, Mexico, Peru, and Canada. 

In 2019, the company’s four operating assets produced over 720,000 ounces of gold and 7.7 million ounces of silver. 

Financial reports

The SSR Mining share price had a bumper end to the week following the company’s release of its quarterly results. During the quarter, SSR delivered production of 196,094 gold equivalent ounces at current commodity prices of $1,004 per gold equivalent ounce, putting it on track to meet its full-year guidance ranges.

SSR generated cash flows from operating activities of $145.2 million and free cash flow of $76.6 million in the first quarter, which represented modest increases on the first quarter of 2020. 

The company also reported first-quarter attributable net income of $53 million, or 24 cents per share. It now has over $900 million in consolidated cash.

SSR Mining, along with most other large multinationals, has been hit by the impacts of COVID-19. As such, it’s cash assets and marketable securities were down on the first quarter of 2020. However, apart from Turkey’s continual government-led slow-downs of the company’s mining operations, SSR appeared bullish about the immediate future.

In its quarterly update, SSR also highlighted the focus on its environmental and sustainability programs. Following its recent merger with Alacer Gold, the company provided an update on its “new suite of sustainability policies”. SSR Mining is currently aiming for net-zero carbon emissions by 2050, in line with many other large resource companies.

SSR share price snapshot

The SSR share price has been rebounding lately, up by around 11% over the past month. Year to date, however, the company’s shares are still down by around 15%. They have also dropped more than 28% over the last 12 months. The company has a current market capitalisation of around $413 million. 

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Motley Fool contributor Lucas Radbourne-Pugh 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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