The McPherson’s Ltd (ASX: MCP) share price is on the rise today after the company provided a number of updates on Thursday morning. At the time of writing, the Aussie health, wellness and beauty company’s shares are trading at $1.51 per share, up 6.71%. 

Let’s take a look at what the company announced.

Trading update

McPherson’s this morning provided an FY2021 trading update to the market. Today’s quantitative guidance comes after the beauty products supplier was unable to provide guidance due to “unpredictable and sporadic demand” from its exclusive Dr LeWinn’s China-based brand partner.

McPherson’s today announced a forecast $222 million decline in revenue. The Aussie supplier expects revenue of $200 million to $205 million for FY21 despite a 3% increase in domestic sales.

The big driver has been disappointing China distribution in late 2020. McPherson’s said sales via its exclusive China brand partner, Access Brand Management (ABM), in Q4 2020 were “well below expectations”.

The McPherson’s share price is surging today despite the company forecasting FY2021 underlying earnings per share (EPS) of 5.0 to 6.5 cents per share. That’s thanks to the weaker past sales and lower shipments to ABM expected in Q4 2021.

However, it’s not just today’s earnings downgrade that has been impacting the McPherson’s share price.

What else is driving the McPherson’s share price?

On 25 March 2021, McPherson’s received a Bidder’s Statement from Gallin Pty Ltd. That constituted an unconditional, on-market takeover offer to acquire all shares at $1.34 per share.

The McPherson’s share price had previously last closed at $1.41, and the board saw the Gallin offer as opportunistic thanks to the “abnormally low, short-term export sales of Dr LeWinn’s in FY2021”.

As a result, McPherson’s directors today unanimously reiterated that shareholders should reject the Gallin offer by taking no action. However, another offer has surfaced and appears to be boosting the McPherson’s share price today.

McPherson’s yesterday received a non-binding, indicative proposal from Arrotex Australia Group Pty Ltd (Arrotex). Arrotex is proposing to acquire all McPherson’s shares at $1.60 per share in an all-cash transaction.

That would be a 31% premium to the 24 March 2021 closing price of $1.22, prior to receiving the Gallin Offer. It’s also a 5.96% premium to the company’s current share price at the time of writing. The board is now working with Arrotex to put together an offer that would work for McPherson’s shareholders.

Foolish takeaway

It’s been a big morning for shareholders with the McPherson’s share price responding positively to today’s updates.

More reading

• McPherson’s (ASX:MCP) share price lifts on takeover developments

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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ASX dividend shares are popular in Australia. The S&P/ASX 200 Index (ASX: XJO) has long been known for its hefty dividend potential, and ASX blue chips that pay out dividends traditionally have a role in most retail investors’ portfolios.

But the evidence is starting to build up that many of the ASX shares that have the largest reputation for being the biggest dividend payers are not market-beating stocks. Let’s take a look at a couple of examples. Westpac Banking Corp (ASX: WBC) is one of ASX’s most popular shares as one of the big four banks. Before the coronavirus pandemic, Westpac shareholders were used to an annual fully franked dividend yield of between 5-8%.

Yet Westpac shares, at their current pricing, have literally gone nowhere for over a decade. You could have bought Westpac shares at the same price as is available at the time of writing, back in March of 2007. Between late May 2008 and today, Rio Tinto Limited (ASX: RIO) shares are up 3.75%. Not a great capital return for 23 years of waiting. Commonwealth Bank of Australia (ASX: CBA) shares were higher in 2015 than they are today. And investors who bought Woodside Petroleum Limited (ASX: WPL) shares back in June 2008 are still down around 60% on their money. And AGL Energy Limited (ASX: AGL) shares are today trading at a level we last saw in 2004.

All of these ASX shares are known as dividend heavyweights. And all have been mediocre long-term performers in terms of share price growth.

Do higher dividends equal lower returns?

Let’s take a look at two ASX exchange-traded funds (ETFs) to see this pattern in action. The Vanguard Australian Shares Index ETF (ASX: VAS) tracks the largest 300 companies on the ASX. It is a simple index fund, holding dividend payers and non-dividend payers alike, going only on market capitalisation.

In contrast, the Vanguard Australian Shares High Yield ETF (ASX: VHY) holds a smaller basket of shares, only holding companies “that have higher forecast dividends relative to other ASX-listed companies”. As you would expect, the VHY fund offers a far higher trailing dividend distribution yield at 3.57%, compared to the broader ASX 300 ETF’s 2.61%.

However, that higher yield does not translate into better overall returns. The ASX 300 ETF has returned an average of 10.25% per annum over the past 5 years. The dividend-focused VHY ETF has returned an average of only 8.99% per annum over the same period.

So why do many ASX dividend shares underperform? Well, that’s a complicated question. But it might have something to do with the fact that paying out dividends weakens a business. A business that shovels most of its earnings out the door has less left to invest in itself, to grow and expand. That might be why some of the companies mentioned above have had their share prices stuck in the proverbial mud for more than a decade.

So if you love a good dividend (and who doesn’t?), keep in mind that you might be sacrificing your overall return if you chase the highest yields possible.

More reading

• ASX 200 up 0.3%: Woolworths and Fortescue lower on updates, Newcrest impresses
• Why ASX gold miner Regis Resources (ASX:RRL) share price is moving higher
• Why this top broker just upgraded the battered St Barbara (ASX:SBM) share price to “buy”
• What to expect from the Westpac (ASX:WBC) half year result
• 5 things to watch on the ASX 200 on Thursday

Motley Fool contributor Sebastian Bowen owns shares of Vanguard Australian Shares High Yield Etf. 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 Atomo Diagnostics Ltd (ASX: AT1) share price is up today after news the company’s Mylan HIV self-test will be expanded in low and middle-income countries. At the time of writing, Atomo shares are trading for 22 cents apiece, 4.88% higher than yesterday’s closing price. 

Let’s take a closer look at the news driving the Atomo share price today.

A step towards health equality

Atomo announced today that its distributer Viatris Inc has made an agreement with global health agency, Unitaid.

The multi-year partnership will see the cost of the Mylan HIV self-test lowered by 50%. Unitaid announced the test will become available for less than US$2 in 135 eligible countries.

The agency said the agreement was a key factor in meeting the global goal of having 90% of people aware of their HIV status. Currently, an estimated 8 million people do not know their HIV status.

Atomo designs and manufactures the HIV self-test. Unlike standard, multi-component HIV tests, it’s a handheld device that Atomo says offers “unmatched usability”. It works to detect the presence of HIV antibodies in a fingertip blood sample.

The test is prequalified by the World Health Organisation (WHO). WHO has estimated the global HIV self-testing market will increase by around 163% in coming years, demanding 29 million tests by 2025.

Commentary from management

Atomo’s co-founder and managing director John Kelly said the partnership signaled a step-up in demand for the HIV self-tests: 

This agreement is not just a significant and important moment in the growth of Atomo, it’s also further confirmation of the versatility and performance of our unique all-in-one diagnostic test platforms and drives lower costs across the business.

Not only have they proven themselves to be ideal for novel test applications like COVID-19 and anti-microbial resistance, but they are also suitable for deployment as part of mass-screening programs in decentralised settings.

Atomo share price snapshot

The Atomo share price needs all the good news it can get today – it’s had a poor run on the ASX lately.

Currently, the Atomo share price is down 30% year to date and has fallen 55% over the last 12 months.

The company has a market capitalisation of around $83 million, with approximately 568 million shares outstanding.

More reading

• Why is the Atomo (ASX:AT1) share price trending downwards?

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.

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The VRX Silica Ltd (ASX: VRX) share price is on the move, up 3.51% to 30 cents in late morning trade. This movement comes as the ASX resource explorer released its latest quarterly activity report today.

Below, we take a closer look at the announcement. 

What did VRX Silica report for the quarter?

VRX Silica’s shares are moving higher today after the company updated the market on its drilling campaign at its Arrowsmith North Silica Sand Project in Western Australia.

During the March quarter, VRX said it completed a 130-hole grade control drill program. This occurred at the project over a period of 10 days. Furthermore, VRX forecasts that the grade control area contains roughly 10.2 million tonnes of probable ore reserve.

VRX does not expect the drill program will change its forecast tonnage. However, the company does believe it will lead to an upgrade in the area drilled to a measured resource and proven reserve. The program will also increase the company’s general geological knowledge across the drilled area.

Assay results for the drill program are expected in late May.

According to the release, the recently completed program “is another key pre-production activity being undertaken in preparation for the commencement of mining”. VRX said the area being grade control drilled is where it plans to mine for the first 6—10 years.

The company added that the drilling has provided it with new commercial samples. In particular, these samples will be for its potential offtake partners, stating demand for its silica sand is ramping up:

Sources of supply of quality silica sand throughout the Asian region are shrinking at a rapid rate, and this has led to tremendous interest for VRX’s silica sand from potential customers who are acutely aware of the supply problem.

VRX also provided an update on its progressive mining and rehabilitation methods. These methods are designed to minimise the environmental impact of its activities.

VRX Silica share price snapshot

Over the past 12 months, the VRX Silica share price has rocketed 228% higher. That handily beats the 34% gain posted by the All Ordinaries Index (ASX: XAO).

So far, 2021 has been more difficult for the VRX share price, with shares down 26% year-to-date.

More reading

• The Atomo (ASX:AT1) share price is soaring today. Here’s why
• Why Coles, Nickel Mines, Nitro, & Regis Resources are storming higher
• Novatti (ASX:NOV) share price rockets 27% on Afterpay deal
• The Credit Clear (ASX:CCR) share price lower on third quarter update
• Why is the BARD1 (ASX:BD1) share price jumping today?

Motley Fool contributor Bernd Struben 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 Why the VRX Silica (ASX:VRX) share price is lifting today appeared first on The Motley Fool Australia.

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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a solid gain. At the time of writing, the benchmark index is up 0.4% to 7,092.3 points.

Four ASX shares that are climbing more than most today are listed below. Here’s why they are storming higher:

Coles Group Ltd (ASX: COL)

The Coles share price is up 3.5% to $16.40. This appears to have been driven partly by a broker note out of Citi this morning. According to the note, the broker has upgraded the supermarket giant’s shares to a buy rating with an $18.00 price target. The broker believes Coles has reached an inflection point in respect to its market share.

Nickel Mines Ltd (ASX: NIC)

The Nickel Mines share price has jumped 6% to $1.14. This also appears to have been driven by a broker note. This morning Bell Potter retained its buy rating on the nickel producer’s shares following its quarterly update. And while it has cut its price target to $1.56, this is still notably higher than where it trades today. Bell Potter notes that Nickel Mine’s aggressive growth outlook is intact.

Nitro Software Ltd (ASX: NTO)

The Nitro share price has stormed 8.5% higher to $3.20. This follows the release of the global document productivity software company’s first quarter update. According to the release, Nitro’s annual recurring revenue (ARR) grew 66% over the same period last year. This growth rate is well ahead of what is required to achieve its FY 2021 ARR guidance. Nitro is targeting ARR of between $39 million and $42 million, which represents year on year growth of 41% to 52%.

Regis Resources Limited (ASX: RRL)

The Regis Resources share price has climbed 3.5% to $2.68. This morning the gold miner released its third quarter update and revealed production of 85,748 ounces of gold. While this was down 6.2% quarter on quarter, it has retained its FY 2021 guidance. Regis Resources continues to target full year production of 355,000–380,000 ounces at an all-in sustaining cost of A$1,230–A$1,300 per ounce.

More reading

• ASX 200 up 0.3%: Woolworths and Fortescue lower on updates, Newcrest impresses
• Why ASX gold miner Regis Resources (ASX:RRL) share price is moving higher
• Why the Nitro (ASX:NTO) share price is surging 6% higher today
• Is the Coles (ASX:COL) share price in the buy zone after its update?
• 5 things to watch on the ASX 200 on Thursday

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of COLESGROUP DEF SET. The Motley Fool Australia has recommended Nitro Software 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 Novatti Group Ltd (ASX: NOV) share price is shooting for the stars today. At the time of writing, shares in the New Zealand financial software company are trading for 62 cents each – up 26.53%. At one point today, shares reached an all-time high of 69 cents before retreating to their current level.

The massive price movement comes as the company announces a deal with Afterpay Ltd (ASX: APT). The Afterpay share price is 1.78% greater after today’s news at $118.49. For contrast, the S&P/ASX 200 Index (ASX: XJO) is 0.34% higher.

Let’s take a closer look at today’s announcement from the digital banking and payments company.

Afterpay partnership

The Novatti share price is surging after the company released a statement to the ASX advising it “has been selected by Afterpay” to deliver its digital payment solution in New Zealand. The initial agreement is for three years. Afterpay will pay Novatti for project setup as well as monthly recurring and transaction-based fees.

According to the statement, the deal will enable Novatti to leverage its license with Visa Inc (NYSE: V). Afterpay will issue “Visa card solutions…[including] enabling Afterpay’s users to access Afterpay-branded payment cards in their digital wallet for use at participating merchants across New Zealand.”

Novatti managing director Peter Cook said the deal with Afterpay shows the potential of the company.

This new partnership with Afterpay again highlights Novatti’s digital banking and payments ecosystem in full operation, enabling innovative fintech companies to leverage our assets to bring new products and solutions to market. Working with Afterpay will see Novatti generate further revenue and value from existing assets, highlighting our increasing shift from a development to a monetisation phase.

Afterpay and Novatti share price snapshot

Over the past 12 months, the Novatti share price has increased by more than 220%. Even before today’s announcement, the company’s value has been increasing on several different announcements, including its partnership with blockchain payment platform Ripple.

The Afterpay share price is around 320% greater than this time last year. It has, however, fallen by around 25% since reaching its all-time high in February this year.

Novatti has a market capitalisation of around $114 million and Afterpay’s is $34 billion.

More reading

• The Sezzle (ASX:SZL) share price is rising on new partnership
• Openpay (ASX:OPY) share price slides despite positive quarterly update
• Affirm shares are surging, why is the Afterpay (ASX:APT) share price left behind?
• ASX 200 falls, BHP rises, Afterpay sinks
• Your handy guide to 5 top ASX BNPL shares

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 and recommends Visa. The Motley Fool Australia owns shares of AFTERPAY T FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post Novatti (ASX:NOV) share price rockets 27% on Afterpay deal appeared first on The Motley Fool Australia.

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The Credit Clear Ltd (ASX: CCR) share price has been unable to impress the market so far on Thursday despite announcing a solid third quarter update.

At the time of writing, the Credit Clear share price is down 3%, trading at 66 cents after spending the entire morning in the red.

Credit Clear operates in the receivables management industry, defined by the ACCC as when “creditors and collectors seek to secure payment from consumers of businesses who are legally bound to pay or repay money they owe”.

The company aims to disrupt the industry’s current operating model by applying its technology to improve a clients’ collection experience and financial outcomes. 

Why is the Credit Clear share price lower today?

The Credit Clear share price has struggled to find headway on seemingly positive financial and operational results in the third quarter. The company reported that overall revenue was up by 35% over the previous quarter to $2.8 million, driven by a 76% increase in digital revenue.

Growth in digital revenue is accelerating and now accounts for 37% of total revenue compared to the 28% reported in the second quarter. The company is pleased with the accelerating growth in digital streams as it confirms the continuing acceptance and adoption of Credit Clear’s SaaS debt recovery platform over traditional debt collection methods. 

The company is pushing growth on all fronts with meaningful contract wins and discussions with large insurance, education, automotive finance and utilities clients.

During the quarter, the company secured Suncorp Group Ltd (ASX: SUN) as its first major insurance sector client. The signing will have an initial contract term of two years with the company receiving an $800,000 advancement payment. 

Credit Clear is riding the tailwinds of its flagship Suncorp deal, and is currently engaged with four additional major insurers about implementing its digital platform. 

Despite the quarterly result ticking all boxes with solid revenue growth, key contract wins and a strong pipeline of potential clients, the Credit Clear share price remains slumped at 66 cents. 

Why the Credit Clear share price is struggling this year

The Credit Clear share price has slipped 11% year-to-date despite positive announcements from the business. 

Could the lack of recent upside to the Credit Clear share price have something to do with its initial public offering back in October 2020? The company had a listing price of 35 cents but ran as high as $1.20 within four days of going public.

Credit Clear made its ASX debut during a period where IPOs were running hot. Notable listings late last year include Douugh Ltd (ASX: DOU), MyDeal.com.au Ltd (ASX: MYD) and Adore Beauty Group Ltd (ASX: ABY).

These shares have experienced a similar share price performance where all-time highs were recorded during the first few days of listing, followed by a sharp selloff and grinding back and forth ever since. 

More reading

• Why the Adore Beauty (ASX:ABY) share price is charging higher today
• The MyDeal (ASX:MYD) share price is on watch. Here’s why
• Why these ASX shares just hit 52-week lows or worse
• 2 quality ASX growth shares rated as buys
• 3 outstanding ASX growth shares

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

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The BARD1 Life Sciences Ltd (ASX: BD1) share price is in the green today, adding to strong yearly gains, after the company released positive results from its autoantibody assay.

After touching an intraday high of $3.50 in early trade today, the BARD1 share price has since retreated and is currently trading at $3.17 apiece, up 2.9%.

BARD1 is an Australian life sciences company that focuses on developing and commercialising non-invasive diagnostic tests for the early detection of cancer.

Let’s see what’s driving the BARD1 share price higher today.

BARD1’s autoantibody assay

BARD1 is currently trialling the performance of its patented peptides in detecting ovarian cancer and differentiating the cancer cells from healthy control subjects. BARD1’s latest study performed by Griffith University showed that it could successfully detect cancer cells.

Griffith University’s research found that BARD1’s peptides, when used in combination with other testing mechanisms, “substantially improved sensitivity for detection of ovarian cancer” compared to using the other testing processes alone.

BARD1 reports that it increased cancer detection rates from 27% to 91% in subjects.

The peptides were tested on 241 samples, comprising 160 ovarian cancer patient samples and 81 healthy control samples.

This and other research has also indicated that similar results could be achieved with fewer numbers of peptides, simplifying the diagnostic process. BARD1’s peptides are strings of amino acids that help identify an immune response to cancerous cells.

What BARD1’s management said

BARD1 CSO Dr Peter French said this was an important first step towards validation as a cancer diagnostic tool.

The next step in the development of a reliable BARD1 autoantibody assay for ovarian cancer is to validate the selected peptides and CA125 in the algorithm identified by this combined data set in a larger independent data set to establish the sensitivity and specificity of the test.

For a BARD1 ovarian cancer assay to be successfully commercialised, accurate and reliable assay performance must be established in independent laboratory settings across a broader patient population.

BARD1 share price snapshot

The BARD1 share price is up 6.5% this week against monthly losses of more than 13%. Overall it’s risen strongly for the past 12 months and is currently valued 317% higher than a year ago, and 321% higher than the start of 2021.

More reading

• Why the BARD1 (ASX:BD1) share price shot up 10% today

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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The Sezzle Inc (ASX: SZL) share price is outperforming its buy now pay later (BNPL) peers on Thursday morning. This comes as the company announced a partnership with top 100 global e-commerce leader, Market America Worldwide. 

At the time of writing, the Sezzle share price is trading at $8.89, up 3.37%. 

US partnership

Market America Worldwide is a global product brokerage and internet marketing company that also specialises in one-to-one marketing and social shopping. The company is rated as one of the top 1,000 global online retailers for 2021. Additionally, it ranked 19 in Newsweek’s best US online shops for 2021. 

This partnership will allow Market America Worldwide’s independent distributors, customers, and all online shoppers to access Sezzle’s BNPL options. 

Sezzle CEO, Charlie Youakim commented on the partnership, saying: 

We’re thrilled to add Market America Worldwide | SHOP.COM to Sezzle’s extensive base of leading e-commerce brands. This partnership opens the door for millions of shoppers to access Sezzle’s barrier-breaking, next generation of payments. With a shared dedication to shoppers and an innovative approach to e-commerce, our teams have already created a  strong relationship that will serve our shoppers well

Sezzle’s buy now pay later platform will be made available to all US consumers. Customers will be able to access this through shop.com and all US distributors in June/July this year. Additionally, partnership plans to include the BNPL platform for Market America Worldwide’s additional ecommerce websites over time. 

Sezzle share price snapshot 

The Sezzle share price is up 31% year-to-date, keeping up with BNPL heavyweights Afterpay Ltd (ASX: APT) and Zip Co Ltd (ASX: Z1P). 

Comparatively, smaller BNPL shares such as Humm Group Ltd (ASX: HUM), Splitit Ltd (ASX: SPT), and Openpay Ltd (ASX: OPY) have slumped significantly this year. 

With a clear divergence taking place between the leading and lagging BNPL shares, it is positive to see the Sezzle share price has sided with the winners. 

More reading

• Why Zip (ASX:Z1P) and these ASX shares are rated as buys
• Openpay (ASX:OPY) share price slides despite positive quarterly update
• Affirm shares are surging, why is the Afterpay (ASX:APT) share price left behind?
• ASX 200 falls, BHP rises, Afterpay sinks
• Why has the Zip (ASX:Z1P) share price plunged 6% today?

Kerry Sun has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of ZIPCOLTD FPO. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. recommends Sezzle Inc. The Motley Fool Australia owns shares of AFTERPAY T FPO. The Motley Fool Australia has recommended Humm Group Limited and 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 The Sezzle (ASX:SZL) share price is rising on new partnership appeared first on The Motley Fool Australia.

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At lunch on Thursday, the S&P/ASX 200 Index (ASX: XJO) is overlooking weakness on Wall Street and pushing higher. The benchmark index is currently up 0.3% to 7,087.5 points.

Here’s what is happening on the market today:

Woolworths third quarter update

The Woolworths Group Ltd (ASX: WOW) share price is tumbling lower today following the release of its third quarter update. For the three months ended 31 March, Woolworths reported a 0.4% increase in group sales to $16,566 million. Although this sales result outperformed the market’s expectations, its outlook for the fourth quarter appears to have spooked investors.   

Fortescue update

The Fortescue Metals Group Limited (ASX: FMG) share price is trading lower despite releasing another solid quarterly update. For the third quarter of FY 2021, Fortescue reported iron ore shipments of 42.3 million tonnes. While this was flat on the prior corresponding period, it puts it on target to achieve its full year guidance. Fortescue also revealed that it averaged revenue of US$143 per dry metric tonne for the quarter. This was up 17% on the second quarter and compares favourably to its C1 cost of US$14.90 per wet metric tonne.

Newcrest update

The Newcrest Mining Limited (ASX: NCM) share price is charging higher today. This follows news that the US Federal Reserve kept rates on hold and the release of its third quarter update. In respect to the latter, Newcrest reported a 4% decline in production to 512,424 ounces. This was driven by planned shutdowns at its Cadia and Lihir sites. Despite this, the company has reaffirmed its FY 2021 production guidance of 1,950,000 to 2,150,000 ounces of gold.

Best and worst ASX 200 performers

The best performer on the ASX 200 on Thursday has been the Nickel Mines Ltd (ASX: NIC) share price with a 6% gain. Earlier today, Bell Potter retained its buy rating but cut its price target to $1.56. This is still notably higher than where it trades today. The worst performer has been the Woolworths share price with a decline of over 3%. This follows the release of its aforementioned third quarter update.

More reading

• Why ASX gold miner Regis Resources (ASX:RRL) share price is moving higher
• Why this top broker just upgraded the battered St Barbara (ASX:SBM) share price to “buy”
• Woolworths (ASX:WOW) share price lower on third quarter sales update
• Fortescue (ASX:FMG) share price lower on Q3 update
• Why the Newcrest Mining (ASX:NCM) share price is on watch

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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