The OceanaGold Corp (ASX: OGC) share price is one to watch in early trade. Investors will be keeping an eye on the Aussie gold miner after its latest quarterly results.

Why is the OceanaGold share price on watch?

The Aussie gold miner this morning provided its latest quarterly results for the period ended 31 March 2021 (Q3 2021).

OceanGold produced 83,191 ounces of gold on a consolidated basis at an all-in sustaining cost (AISC) of $1,229 per ounce. Production was up 3% on the prior corresponding period (pcp) but down 16% from the December quarter.

The group’s AISC was marginally higher than the $1,218 per ounce recorded in the previous quarter. OceanaGold increasing consolidated cash costs of $800 per ounce and higher AISC reflected lower production and higher capitalised pre-stripping. 

The OceanaGold share price is one to watch today after the mixed result as the company maintained its full-year guidance numbers.

OceanaGold sold 82,847 ounces of gold during the quarter for revenue of $148.9 million. That was an increase on pcp but down 11.5% from $168.2 million in the December quarter. Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) totalled $66.5 million for the quarter, down 6% from the December quarter.

Cost increases at the group’s Haile plant reflected lower throughput during the quarter and one-off costs. OceanaGold expects Haile to produce 150,000 to 170,000 ounces at an AISC of $950 to $1,100 per ounce sold for FY2021.

The OceanaGold share price is worth watching today as it remains on-track to achieve full year 2021 guidance. That’s despite challenges at its Phillippines-based Didipio site. Didipio remains “in a state of operational standby” as an ongoing blockade of the access road continues.

The Aussie gold miner said it is unable to provide a specific timeline to complete the Financial or Technical Assistance Agreement (FTAA) renewal. COVID-19 factors mean it may take “up to 12 months” for normal operations to resume.

Foolish takeaway

The OceanaGold share price is one to watch in early trade after the comprehensive quarterly update form the Aussie gold miner.

More reading

• Why the Janus Henderson (ASX:JHG) share price is on watch
• Only 40% of Australians want the AstraZeneca vaccine. What could this mean for CSL (ASX:CSL)?
• Is the Woolworths (ASX:WOW) share price a buy after its Q3 update?
• 7 ASX 200 shares with emission reduction strategies
• Top broker slaps sell rating on Fortescue (ASX:FMG) share price

Motley Fool contributor Ken Hall 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 Janus Henderson Group (ASX: JHG) share price is one to watch this morning after the UK investment group’s latest quarterly update.

Why is the Janus Henderson share price in focus?

Shares in the UK investment group were smashed 3.0% lower on Thursday ahead of the quarterly results release.

Janus Henderson reported that long-term investment performance remains “solid” despite 3-year investment outperformance edging lower to 62%. Assets under management increased by 1% to US$405.1 billion while the group booked US$3.3 billion in outflows for the quarter.

Adjusted diluted earnings per share (EPS) fell 12.5% from the December quarter to US91 cents per share. Janus Henderson’s dividend per share edged higher to US38 cents, up from US36 cents in Q4 2020. It’s worth watching the Janus Henderson share price as investors react to the dividend increase in early trade.

This comes after the investment group completed a US$230 million share buyback during the March quarter. On the investment side, the company reported a broadly strong performance.

Fixed income, multi-asset and alternatives strategies all had 90% of assets under management (AUM) outperforming on a 1- and 3-year basis. Quantitative equities was the noticeable outlier, with 48% of AUM outperforming on a 1-year basis with 4% and 11% on a 3- and 5-year basis, respectively.

Investors will be keeping an eye on Janus Henderson shares after the company reported a decline in net flows for the quarter and decrease in gross sales.

Adjusted quarterly revenue was down from US$528.5 million to US$516.6 million thanks to a 71% drop in performance fees to US$17.0 million. A 6% increase in total operating expenses at US$315.1 million also punctuated the quarterly result.

Foolish takeaway

The Janus Henderson share price is one to watch this morning after the group’s latest quarterly update. The UK investment group closed with a $42.65 share price and an $8.7 billion market capitalisation on Thursday afternoon.

More reading

• 5 things to watch on the ASX 200 on Friday

Motley Fool contributor Ken Hall 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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New data reveals that only 40% of Australians are willing to take the AstraZeneca plc (LSE: AZN) COVID-19 vaccine. What, if anything, could this mean for CSL Limited (ASX: CSL)?. The data, released Monday in an Essential Research poll, comes at an inopportune time for the country as a whole, with the inoculation roll-out already delayed.

With CSL being the main manufacturer and distributor of the AstraZeneca vaccine in Australia, it would be interesting to know what the company makes of the latest figures.

Let’s take a closer look at the data.

1 in 5 Australian women refuse to get vaccinated

Since Essential’s previous poll, which was taken before news surrounding possible blood clotting side-effects in those under 50 surfaced, the number of people saying they would refuse to get vaccinated increased from 12% to 16%. This includes 20% of all women and 23% of all 18 to 34-year-olds. The 16% figure is still within tolerable levels to achieve herd immunity, it should be noted.

42% of respondents said they want to get vaccinated as soon as possible, while another 42% said they would prefer to wait for a time before receiving their vaccination.

The number who said they would be willing to have any vaccination is 37%. A further 3% said they would have the AstraZeneca vaccine but not the Pfizer Inc (NYSE: PFE) vaccine. Perhaps most concerning is the number of those people aged over 50 who said they would rather have the Pfizer vaccine than the AstraZeneca one.

As mentioned, those under 50 are not recommended to have the AstraZeneca vaccine. The government is also mandating that those over 50 should not be given the Pfizer vaccine if the AstraZeneca one is available. Nearly a third of respondents aged between 50 and 69 said they want the Pfizer injection, as well as 16% of those aged 70+. Men are much more likely than women to accept either vaccine (48% to 27% respectively).

What could this mean for CSL?

As no Australian consumers can buy vaccines directly (they are purchased by the Commonwealth to then be distributed to states, GPs, and other providers) it’s possible CSL may not be greatly impacted by any hesitancy among Australians over the AstraZeneca vaccine. Furthermore, according to JP Morgan healthcare analyst David Low, as reported by The Sydney Morning Herald earlier this year:

CSL’s exposure to vaccines is quite small especially after the University of Queensland vaccine program was terminated. It’s about the relative financial contribution – the potential earnings from COVID vaccines is modest compared with the group’s other business lines.

On the other hand, the government has already responded to public sentiment and changing health advice by recommending against those under 50 having the AstraZeneca vaccine. Motley Fool Australia has contacted CSL for comment.

CSL share price snapshot

Over the last 12 months, the CSL share price has decreased by around 12%. Shares in the company fell from $285.00 each at the beginning of the year to a 52-week low of $242.00 in early March. Since then, the CSL share price has partially recovered to its current level of $273.49. However, the company’s shares are still trading almost 15% lower than their 52-week high of $320.42 reached in November.

CSL has a market capitalisation of $124.5 billion.

More reading

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Marc Sidarous has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of CSL Ltd. 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 Woolworths Group Ltd (ASX: WOW) share price was a poor performer on Thursday.

The retail conglomerate’s shares fell almost 4% to $39.81.

Why did the Woolworths share price sink lower?

Investors were selling the company’s shares following the release of its third quarter sales update.

For the three months ended 31 March, Woolworths reported a 0.4% increase in group sales to $16,566 million.

This growth was driven by its BIG W and drinks businesses, which offset softer sales from its supermarkets.

Australian Food sales were down 0.7% on the prior corresponding period to $11,092 million, whereas New Zealand supermarket sales fell 6.9% in local currency to NZ$1,792 million.

What else?

Also weighing on the Woolworths share price was management’s outlook for the fourth quarter.

Woolworths’ CEO, Brad Banducci, warned: “Turning to current trading and outlook, sales growth for the first three weeks of April remained volatile and impacted by prior year growth rates and the timing of public holidays.”

“In Australian Food, total sales were broadly flat compared to last year. This reflects the cycling of mid-single digit sales growth in April last year in comparison to double-digit sales growth in May and June.”

Is this a buying opportunity?

According to a note out of Goldman Sachs, its analysts have seen enough in this result to retain their buy rating.

However, the broker has trimmed its price target to $43.10 after revising its near term earnings estimates slightly lower.

Based on the latest Woolworths share price, this implies potential upside of 8.3% over the next 12 months. And if you include the 2.8% dividend yield the broker is forecasting, this stretches to approximately 11%.

Goldman notes that Woolworths outperformed rival Coles Group Ltd (ASX: COL) during the quarter.

It said: “Woolworths’ 3Q21 update offered a mixed bag. Australian supermarkets reported comparable sales growth below GSe but c. 430bps outperformance vs. Coles Group underpinned by a c. 91% growth in the e-commerce business. While the trading into early April is lacklustre, we believe that the volatility on a weekly basis in pcp makes it difficult to draw any meaningful conclusions regarding performance vs. Coles Group.”

“Amongst the remaining divisions, Endeavour Group, BigW and Hotels reported sales ahead of GSe for the quarter while NZ supermarkets continued to underperform as the industry is impacted by border restrictions. Management expects to release the Endeavour Group demerger documents in mid-May, a potential catalyst for Woolworths Group.”

“Overall, we revise our NPAT forecasts by -0.1% and -1.3% over FY21 and FY22. Our revised 12m Target Price on WOW is at A$43.10, offering a potential total return of +11.1%. We maintain a Buy rating on WOW,” it concluded.

All in all, this could make it worth considering the Woolworths share price after yesterday’s weakness.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of 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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Australians, and many ASX 200 companies, are becoming increasingly conscious of the future of our carbon emissions. But the role the private sector has to play in Australia’s approach to tackling climate change has been even more in focus since Prime Minister Scott Morrison’s attendance at the virtual Leaders Summit on Climate last week.

The Prime Minister didn’t add much to the climate change debate at the event. But, as the ABC reported, his comments that our efforts in this area would be largely “driven by our… private sector” help shine the spotlight on the future of carbon emissions that many climate-conscious ASX 200 companies are already addressing.

According to a report published by ASIC late last year, these 7 ASX 200 companies have emissions reduction targets that are approved by the independent Science-Based Targets initiative (SBTi) and are aligned with the Paris Agreement. 

7 ASX 200 carbon-conscious companies

Suncorp Group Ltd (ASX: SUN)

According to Suncorp, the company has concrete plans for sustainable growth.

This ASX 200 share says it is tracking and reducing its operational greenhouse gas (GHG) emissions footprint through its new carbon budget and science-based emissions reduction target.

It plans for a 51% absolute reduction of emissions by 2030.

Origin Energy Ltd (ASX: ORG)

Origin was the first energy company in the world to have its emissions reduction targets approved by the SBTi.

Its emissions reduction strategy is to reduce its direct greenhouse gas emissions by 50%, and emissions caused as a result of its value chain by 25%, by 2032.

Origin plans to be completely carbon neutral by 2050.

The rise of renewables and the impact of emerging digital technologies are creating new opportunities. Which-50 spoke with Origin’s head of Future Energy, Cameron Briggs, about how we are approaching the future: https://t.co/GQXsaICAuU pic.twitter.com/P4SYlXyPdB

— Origin (@originenergy) December 7, 2018

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SkyCity Entertainment Group Limited (ASX: SKC)

SkyCity states that, as a member of the casino industry, it works hard to justify its place in society. Thus, it has a number of environmental and social measures in place to support positive practices.

One of these is its commitment to reducing its carbon emissions by 38% by 2030 and its GHG emissions by 73% by 2050.

SkyCity also says that, by 2023, 67% of what it spends on supplies such as food and drinks will come from companies with science-based emission-reduction targets in place. 

Dexus Property Group (ASX: DXS)

Around 25% of Australia’s carbon and GHG gas emissions come from the construction, operation and maintenance of buildings. According to Dexus, it is now working on reducing those caused by its own buildings.

The ASX 200 real estate group has concrete plans to reduce its direct carbon and GHG emissions by 70% by 2030. It has also pledged to reduce its value chain’s emissions by 25% by 2030.

The race to become Australia’s most sustainable workplace – #betterbuildingscup – is getting festive with our customers at 100 Harris Street in Pyrmont hosting a Sustainable Christmas Gift Market supporting local businesses and a waste-free Christmas. #sustainability pic.twitter.com/srMgmpzH1n

— Dexus (@Dexus) December 16, 2019

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Fletcher Building Limited (ASX: FBU)

Fletcher Building aims to be the Australian and New Zealand leader in sustainable building materials and construction.

To get there, it’s pledged to reduce its carbon and GHG emissions by 30% by 2030. It’s also committed to making sure that 67% of its suppliers will have science-based emission reduction targets by 2024.

QBE Insurance Group Ltd (ASX: QBE)

According to QBE, the company has already met some ambitious and modern goals when it comes to battling climate change.

It has already attained its goal of reducing its corporate air travel by 20% and removed all its direct investments in thermal coal. QBE has also reduced all its emissions by 30% – reaching its self-imposed deadline four years ahead of schedule. 

QBE is now working to reduce its energy use by 15% by the end of this year. It also plans to use 100% renewable electricity for all its operations by 2025.

Today we released our 2020 Sustainability Report outlining the progress we’re making to integrate #sustainability into the way we do business. More: https://t.co/ezXG6DIGOO pic.twitter.com/pqZqqONbOK

— QBE (@QBE) February 18, 2021

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Insurance Australia Group Ltd (ASX: IAG)

Insurance Australia got the ball rolling on climate change relatively early. The company published its first sustainability report in 2005, and is already carbon neutral.

It has set goals for emission reductions of 43% by 2025, 71% by 2030 and a 95% by 2050.

Other ASX 200 companies setting targets

The next time we take a look at which ASX 200 companies have set SBTi-approved emissions targets, we might need to write a longer list. At the time of ASIC’s report, Woolworths Group Ltd (ASX: WOW), Westpac Banking Corp (ASX: WBC) and Telstra Corporation Ltd (ASX: TLS) had all committed to set emissions reduction targets in line with the SBTi and the Paris Agreement in the near future.

Currently, Telstra is proposing to be carbon neutral by the end of this year and plans to run its business with 100% renewable energy by 2025. It has also committed to reducing its total emissions by 50% by 2030. Westpac has committed to reducing its emissions by 34% by 2030. The bank is also currently working on creating emission reductions initiatives for its third-party suppliers.

More reading

• ASX 200 rises, Woolworths falls, Fortescue was flat
• Why ASX bank shares may be facing a big sell-off in the next few weeks
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• Woolworths (ASX:WOW) fails the pub test with Darwin Dan Murphy’s
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Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Telstra Limited. The Motley Fool Australia owns shares of 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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The Fortescue Metals Group Limited (ASX: FMG) share price underperformed on Thursday following the release of its third quarter update.

The iron ore producer’s shares fell 0.2% to $22.58.

What happened in the third quarter?

For the three months ended 31 March, Fortescue shipped 42.3 million tonnes of iron ore. While this was flat on the prior corresponding period, it remains on track to achieve its shipments guidance in FY 2021.

The mining giant averaged US$143 per dry metric tonne, which was up 17% on the second quarter of FY 2021. It also represents revenue realisation of 86% of the average Platts 62% CFR Index.

And although its C1 costs increase quarter on quarter by 16% to US$14.90 per wet metric tonne, the company remains on track to achieve its costs guidance.

Though, one thing that is not on target is its capital expenditure. Fortescue has lifted it by up to US$300 million for the year.

Is the Fortescue share price in the buy zone?

According to a note out of Goldman Sachs, its analysts don’t see value in the Fortescue share price at the current level.

It commented: “FMG delivered a weaker than expected March Q with; (1) iron ore price realisations drifting down 5% QoQ to 86% vs. the Index (below GSe at 88%), despite some modest provisional pricing tailwinds and generally low and supportive steel mill margins for low grade Fe up until late Feb, and (2) FY21 capex guidance lifted by c. 10% to US$3.5-3.7bn due to further escalation on the Iron Bridge project during the project review, spend of renewables projects and FX strength. We model US$3.7bn of capex for Iron Bridge vs. last company guidance of up to US$3bn (100% basis). Unit costs increased 16% QoQ to US$14.9/wmt (the highest in around 5-yrs), and shipments of 42.3Mt of iron ore were down 8% QoQ but flat YoY.”

Valuation concerns

Goldman also has concerns over its valuation, noting that the Fortescue share price is trading at 1.6x net asset value (NAV).

This compares to a much more reasonable 1x NAV for both BHP Group Ltd (ASX: BHP) and Rio Tinto Limited (ASX: RIO)

In light of this, the broker has retained its sell rating and cut its price target to $18.30. Based on the current Fortescue share price, this implies potential downside of 19% over the next 12 months.

More reading

• ASX 200 rises, Woolworths falls, Fortescue was flat
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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.

The post Top broker slaps sell rating on Fortescue (ASX:FMG) share price appeared first on The Motley Fool Australia.

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Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. Kate O’Brien owns shares of Apple and Rio Tinto Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Alphabet (A shares), Alphabet (C shares), and Apple. The Motley Fool Australia has recommended Alphabet (A shares), Alphabet (C shares), and Apple. 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 ResMed Inc. (ASX: RMD) share price will be one to watch closely this morning.

This follows the release of the sleep treatment focused medical device company’s third quarter results.

How did ResMed perform in the third quarter?

For the three months ended 31 March, ResMed posted revenue of US$768.8 million.

While this is down 0.1% from US$769.5 million in the prior corresponding period, it is worth noting that the prior corresponding period was boosted significantly by strong demand for ventilators at the height of the pandemic.

Positively, a reduction in selling, general, and administrative expenses offset this and underpinned a 3% increase in operating profit to US$223.4 million.

On the bottom line, earnings per share came in 1% higher than the prior corresponding period at US$1.30.

ResMed’s CEO, Mick Farrell, said: “Our March 2021 quarter results reflect the ongoing recovery of core patient flow across our business, while we anniversary the $35 million of incremental COVID-19 revenue in the same quarter last year. Excluding the COVID19 revenue from the March 2020 quarter, we achieved positive revenue growth on both a headline and constant currency basis.”

How did ResMed’s businesses perform?

Revenue in the U.S., Canada, and Latin America region (excluding Software as a Service) grew by 2% during the quarter. This was driven by strong sales across mask products, partially offset by lower device sales, including decreased demand for ventilators.

Revenue in Europe, Asia, and other markets declined by 13% on a constant currency basis, primarily driven by lower device sales. This includes decreased demand for ventilators due to COVID-19, and flat sales in its mask product portfolio.

Software as a Service revenue increased by 5% due to continued growth in resupply service offerings and stabilising patient flow in out-of-hospital care settings.

ATO dispute

Mr Farrell also revealed that progress has been made with its long-running dispute with the Australian Tax Office.

He explained: “During the quarter we also made substantial progress toward resolving our long-running dispute with the Australian Tax Office. Although we do not have a final agreement, we have taken a reserve of US$255 million, reflecting our estimate of the net impact of a potential settlement. Our next steps are to agree on the final terms of a resolution giving us clarity for the future.”

Outlook

No guidance was given for the remainder of the year. However, management appears confident in its growth trajectory.

“Going forward, we see accelerated awareness of the importance of respiratory health, growing adoption of digital health, and an increased focus on the importance of healthcare delivered at home. We are confident in accelerated growth in patient flow, and ongoing progress toward our goal of improving 250 million lives in out-of-hospital healthcare in 2025,” concluded Mr Farrell.

The ResMed share price is up 17% over the last 12 months.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended ResMed Inc. 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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On Thursday the S&P/ASX 200 Index (ASX: XJO) was on form again and pushed higher. The benchmark index rose 0.25% to 7,082.3 points.

Will the market be able to build on this on Friday? Here are five things to watch:

ASX 200 expected to fall

The Australian share market looks set to end the week on a disappointing note. According to the latest SPI futures, the ASX 200 is expected to open the day 15 points or 0.2% lower this morning. This is despite it being a positive night of trade on Wall Street, which saw the Dow Jones and S&P 500 jump 0.7%, and the Nasdaq rise 0.2%. Strong results from Facebook and Apple were behind these gains.

Oil prices storm higher

Energy producers including Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) could finish the week on a high after oil prices rose again. According to Bloomberg, the WTI crude oil price is up 1.7% to US$64.94 a barrel and the Brent crude oil price is up 1.85% to US$68.52 a barrel. A bullish demand outlook offset concerns about rising COVID-19 cases in India.

ResMed Q3 results

The ResMed Inc. (ASX: RMD) share price will be in focus today following the release of its third quarter results. For the three months ended 31 March, ResMed reported revenue of US$768.8 million and an operating profit of US$241.8 million. This represents a 0.1% decline and 2% increase, respectively, over the prior corresponding period.

Gold price flat

Gold miners Newcrest Mining Ltd (ASX: NCM) and St Barbara Ltd (ASX: SBM) will be on watch after a flat night for the gold price. According to CNBC, the spot gold price is steady at US$1,774.10 an ounce. A rise in US bond yields weighed on the precious metal.

Janus Henderson Q1 update

The Janus Henderson Group CDI (ASX: JHG) share price could push higher today following the release of its first quarter update. For the three months ended 31 March, the fund manager reported an operating profit of US$192.5 million. This compares to a US$332.4 million loss in the prior corresponding period. The company’s US listed shares rose 1.5% overnight.

More reading

• ASX 200 rises, Woolworths falls, Fortescue was flat
• Why ASX 200 oil shares are eyeing US$80 per barrel Brent crude prices
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• Are Woolworths (ASX:WOW) shares too expensive?
• QBE Insurance (ASX:QBE) set to face AGM shareholder revolt

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended ResMed Inc. 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) rose by 0.25% to 7,082 points.

Here are some of the highlights from the ASX today:

Woolworths Group Ltd (ASX: WOW)

The Woolworths share price dropped around 4% after giving its third quarter update to investors.

Woolworths reported that the total group sales was up 0.4% for the 13-week period. The Australian supermarkets division saw sales decline 0.7% to $11 billion because it’s now cycling against high levels of sales in the prior corresponding period due to COVID-19.

New Zealand supermarkets saw a decrease of sales by 10.2% to $1.67 billion. Big W sales jumped 18.3% to $1 billion. Endeavour Drinks sales rose by 6.3% to $2.39 billion. Hotels saw sales go up 11.5% to $390 million.

In terms of a trading update for April, Woolworths said that total sales were broadly flat because of prior year growth rates. Endeavour Drinks saw sales in April remain above last year, but are expected to slow when it cycles against growth of 30% over May and June. New Zealand sales were materially negative, cycling against growth of 20% over the prior year. Big W sales growth has also slowed in April because it’s cycling against growth in April 2020.

Woolworths said that the Endeavour Group demerger remains on target for late June. Key milestones during the quarter include securing financing commitments for Endeavour Group’s proposed debt facilities and finalising board and management appointments.

Woolworths was one of the worst performers in the ASX 200.

Fortescue Metals Group Limited (ASX: FMG)

Iron ore miner Fortescue revealed its FY21 third quarter today. It said that iron ore shipments of 42.3 million tonnes (mt). This was in line with the record third quarter shipments last year. Year to date shipments of 132.9mt were 2% higher than the comparable period in FY20.

Average revenue of US$143 per dry metric tonne (dmt) was up 17% compared to the previous quarter with revenue realisation at 86% of the average Platts 62% CFR Index.

The C1 cost of US$14.90 per wet metric tonne (wmt) increased 16% compared to the second quarter due to seasonally lowered volumes and the strength of the Australian dollar, with year to date C1 cost of US$13.45 per wmt.

The ASX 200 miner said that its net debt of US$1 billion at 31 March 2021 after the payment of the FY21 interim dividend of US$3.5 billion and capital expenditure of US$909 million in the quarter.

Guidance for FY21 shipments and C1 costs remained unchanged. However, the capital expenditure guidance increased to a range of US$3.5 billion to US$3.7 billion.

Fortescue also said that the commissioning of the Eliwana mine has contributed to an increase in both ore mined and processed during the quarter, despite the impact of rainfall.

Sezzle Inc (ASX: SZL)

The Sezzle share price went up more than 3% today after the buy now, pay later business announced a partnership with Market America Worldwide to partner with SHOP.COM.

Sezzle will be providing the global independent distributors, their customers and all online shoppers with the option of buy now, pay later.

For now, this deal is just about SHOP.com. But future plans include making the buy now, pay later platform available to online shoppers on Market America Worldwide’s additional e-commerce websites over time.

More reading

• Why ASX 200 oil shares are eyeing US$80 per barrel Brent crude prices
• Why ASX bank shares may be facing a big sell-off in the next few weeks
• Are Woolworths (ASX:WOW) shares too expensive?
• Woolworths (ASX:WOW) fails the pub test with Darwin Dan Murphy’s
• Why Airtasker, Ecofibre, Nuix, & Woolworths shares are sinking

Tristan Harrison owns shares of Fortescue Metals Group Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. recommends Sezzle Inc. The Motley Fool Australia owns shares of Woolworths Limited. The Motley Fool Australia has recommended Sezzle Inc. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post ASX 200 rises, Woolworths falls, Fortescue was flat appeared first on The Motley Fool Australia.

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