The NRW Holdings Limited (ASX: NWH) share price is climbing this morning following a new contract award.

At the time of writing, the diversified service provider’s shares are swapping hands for $2.00, up 2.30%

What did NRW announce?

Investors are pushing NRW shares higher after digesting the company’s update.

According to this morning’s release, NRW advised its wholly-owned subsidiary, Primero Group Limited, has won a new contract for Strandline Resources Ltd (ASX: STA).

Founded in 1999, Strandline Resources is an exploration and development company focused on mineral sands and other base metals. The group operates in Western Australia and across the eastern part of Tanzania.

The award is for the engineering, procurement and construction (EPC) of the Coburn Mineral Sands Project, located in the Gascoyne region of Western Australia.

Under the agreement, Primero will build a Wet Concrete Plant (WCP) and the Mineral Separation Plant (MSP). It will use the facilities to treat heavy mineral concentrate, followed by a dry separation process. Once complete, Strandline Resources will have final products such as chloride ilmenite, rutile, zircon and zircon concentrate.

NRW expects the project to be completed sometime in Q4 2022, with construction works peaking that year. The company estimates around 180 site personnel will be employed to deliver the contract on time.

Management commentary

Primero CEO Cameron Henry welcomed the new deal, saying:

We are pleased to convert another early contractor involvement (ECI) engagement and preferred contractor status to full contract award and associated delivery.

The Strandline project is another step forward for the Minerals division within Primero and our new owners NRW Holdings, that underpins our growing pipeline of works through 2022/23.

NRW CEO Jules Pemberton went on to add:

The award of this EPC contract with Strandline demonstrates the diversity and quality of the Primero Minerals business, which is strengthening its reputation as a preferred contractor of choice in minerals processing.

Our Minerals, Energy and Technology (METS) division is growing strongly with the addition of Primero into the group and is looking forward to further success in a strong market for services.

NRW share price summary

Over the last 12 months, the NRW share price has gained close to 20%. However, year-to-date performance is down 30%. The company’s shares reached a 52-week high of $3.19 at the start of this year before treading lower.

NRW has a market capitalisation of around $915 million, with 456 million shares on issue.

More reading

• Here’s why the NRW (ASX:NWH) share price is edging higher today

Motley Fool contributor Aaron Teboneras 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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Cedar Woods Properties Limited (ASX: CWP) shares are lifting today following news the company has purchased a 40-hectare property in Queensland. Cedar Woods also released its operational update for the third quarter this morning.

At the time of writing, the Cedar Woods share price is up 4.1%, trading at $7.35.

Let’s take a look at Cedar Woods’ latest news and performance.

New property

The property developer shared today that it will purchase a 40-hectare property in South Maclean, around 45km south-west of Brisbane. The company will build 500 homes and a childcare centre on the site.

 According to Cedar Woods’ release, the company expects South Maclean to play an important role in the growth of Queensland.

The company will pay $12.5 million for the land, with the acquisition’s settlement due in July 2021. Currently, the land is held by a private landowner.

In its release, Cedar Woods said the  South Maclean development would address the demand for detached housing in Southeast Queensland. The company pointed to BIS Oxford Economic research that found housing stock in Queensland will soon be deficient. At the same time, its likely population growth is higher than the national long-term average.

Cedar Woods believes the acquisition will substantially grow its portfolio and contribute to its medium-term earnings.

Alongside the residential development, the company will revegetate a nearby creek.

CEO’s commentary

Cedar Woods Properties’ CEO Patrick Archer said the purchase was part of the company’s strategy to diversify the geography and price point of its projects.

The South East Queensland market is very attractive due to its relative affordability compared to Sydney and Melbourne, and this South Maclean site will be one of the last remaining large-scale residential projects in the area to commence development, meaning it will benefit from the existing amenity in surrounding communities.

Quarterly update

Cedar Woods also shared its updated 2021 financial year guidance this morning.

It has increased its forecast net profit after tax (NPAT) for the current financial year to approximately $32 million. That figure is 53% higher than it was in the previous comparable period (pcp).

The company attributed the increase to a rise in presale contracts, which has come despite a reduction in government housing stimulus.

Cedar Woods said it had a strong balance sheet and enough capital to fund the business’ requirements.  Its corporate finance facility will provide funding security.

At the end of the third quarter of FY21, Cedar Woods had access to more than $94 million in undrawn finance facilities.

The company stated its presales contracts are currently valued at a record $426 million. That’s a 17% increase on the figure reported in the pcp.

The company states around 10% of presales are to settle in this financial year, with the balance contributing to earnings in the coming 2 financial years.

Cedar Woods believes market conditions over the quarter were positively impacted by an improving economic environment, better employment prospects and confidence in Australia’s handling of the COVID-19 pandemic and the global vaccine rollout.

Further, it stated the Reserve Bank of Australia’s affirmation that low interest rates will continue in the long term allowed its customers the confidence to purchase properties and protect themselves against increasing house prices.

Managing director’s commentary

Cedar Woods Properties’ managing director Nathan Blackburne commented on the upgraded forecast. He said the company’s increased presales and pipeline of more than 8,400 dwellings and lots means its future looks bright:

Our high performing projects across four states are trading strongly, presales are at record levels and the business remains well-placed to grow earnings…

We expect the improved buyer confidence and low interest environment which have underpinned our performance to endure for some time.  

Cedar Woods Properties share price snapshot

Currently, the Cedar Woods share price is up 18% year to date. It’s also up by 84% over the last 12 months.

The company has a market capitalisation of around $570 million, with approximately 80 million shares outstanding.

More reading

• Here’s why the Clinuvel (ASX:CUV) share price is pushing higher
• Why ASX gold miner Regis Resources (ASX:RRL) share price is moving higher
• Amazon on track to beat Walmart as biggest U.S. retailer by 2025
• Why the Envirosuite (ASX: EVS) share price is climbing
• What’s happening with the IOOF (ASX:IFL) share price today?

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 Clinuvel Pharmaceuticals Limited (ASX: CUV) share price is pushing higher on Thursday following the release of its third quarter update.

At the time of writing, the biopharmaceutical company’s shares are up 1% to $30.22.

This latest gain means the Clinuvel share price is now up approximately 33% since the start of the year.

How did Clinuvel perform in the third quarter?

Clinuvel continued its positive form during the third quarter. For the three months ended 31 March, the company reported a 21% increase in cash receipts to $6.5 million. Net operating cash flows were $1.99 million for the quarter.

Management advised that this result reflects the increasing contribution from the commercial distribution of its SCENESSE (afamelanotide 16 mg) product in Europe and the United States.

SCENESSE is a treatment for adult patients with the rare genetic and metabolic condition, erythropoietic protoporphyria (EPP).

Positively, after the deferral of some orders or reduced order sizes during the outbreak of COVID-19 in Europe in 2020, the company notes that demand appears to have normalised. Even better, patient adherence to SCENESSE treatment remains very high.

Another positive that could be supporting the Clinuvel share price today is its growing footprint in the United States. The release explains that there are now 40 speciality centres that are trained and accredited to administer SCENESSE to EPP patients. This exceeds the 30 which originally had been planned.

Clinuvel’s CFO, Darren Keamy, commented: “Our medical distribution model is effective in Europe and the US, which really needs to be seen against a challenging environment where lockdowns disrupt economic activity and the mobility of people.”

“In alignment with our Strategic Updates, we focus on building the business through vertical integration of key functions to reach sustainability and self-reliance. As a result, the Company is controlling the increase of investments in a staged process to achieve these long-term goals.”

More reading

• Clinuvel (ASX:CUV) share price drops on strategic update

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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The Regis Resources Limited (ASX: RRL) share price is gaining today, up 1.8% in morning trade.

Below we take a look at the ASX gold miner’s third quarter (Q3) activities report for the quarter ending 31 March.

What did Regis report on its quarterly operations?

Regis Resources shares are moving higher after the company reported it had produced 85,748 ounces of gold during the reported quarter. That’s slipped a bit from the 91,411 ounces produced in Q2.

Regis sold 67,383 ounces of gold during this period for an average price of $2,014 per ounce. Total revenue came in at $135.7 million.

All in sustaining costs (AISC) for Q3 rose slightly to $1,388 per ounce, up from $1,317 per ounce the previous quarter. This looks to be primarily driven by higher AISC at its Rosemont mine, of $1,602 per ounce.

The company pointed to a falling gold price for the reduction in its cash flow for the quarter, reporting cash flow from operations of $67.2 million, down from $100.1 million in Q2.

Regis held $202.3 million in cash and bullion as of 31 March. After paying dividends of $16.8 million and $19.5 million in income tax, cash and bullion holdings slipped $17.7 million from the previous quarter.

The ASX gold miner retained its guidance for the full 2021 financial year, forecasting production of 355,000–380,000 ounces of gold at an AISC $1,230–1,300 per ounce.

Commenting on the past quarter results, Regis Resources Managing Director, Jim Beyer said:

[I]t is very satisfying to see the production lift in Rosemont Underground. This high grade ore source is a key element of ensuring our performance to year end is within our guidance ranges.

During the quarter our latest growth project, the Garden Well South underground mine, started with completion of the portal and commencement of decline development. This new mine will be an excellent addition to our production profile…

Post the end of the March quarter our Duketon Operations announced a substantial increase in Mineral Resources and Ore Reserves reported earlier this month…

Finally, the announcement and subsequent progress of the acquisition of a 30% interest in the Tier One Tropicana Gold Mine, is transformational for Regis. We are pleased to note AngloGold Ashanti’s recent waiver of the pre-empt for the deal leaving only Ministerial approval for the transfer of the tenement interests as the remaining condition to ownership.

Regis Resources said its $903 million acquisition of Tropicana will give it a gold mine with a production outlook of 380-430,000 ounces in FY21. The expected mine life is longer than 10 years.

Regis Resources share price snapshot

It’s been a difficult year for Regis Resources shareholders, with the share price down 39% in 12 months. By comparison the S&P/ASX 200 Index (ASX: XJO) is up 31% over that same time.

Year-to-date the Regis Resources share price is down 29%.

More reading

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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.

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This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

Amazon (NASDAQ: AMZN) is set to overtake Walmart (NYSE: WMT) as the biggest U.S. retailer by 2025, according to a new report.

Yet just like Major League Baseball did to Roger Maris after he passed Babe Ruth’s home run record in 1961, Amazon will need to tack an asterisk onto the achievement, because its growth isn’t the milestone it initially appears.

In a report by Bloomberg, e-commerce data company Edge by Ascential says within four years consumers will purchase $632 billion worth of goods from Amazon, compared to $532 billion at Walmart. This is where the caveat is needed.

Amazon and Walmart have different business models. Where the e-commerce giant started off as an online retailer, today it operates more like a flea market charging rent to its 2 million or so third-party retailer tenants, who account for the vast majority of those sales.

In contrast, despite Walmart having a growing e-commerce presence and third-party platform, its sales are still mostly its own. When comparing apples to apples, then, Edge by Ascential admits Walmart will continue to be the retail behemoth it is today.

To account for the different business models, the data analytics company examined the gross merchandise volume of the two companies, a metric that measures how much consumers spend, regardless of where the product originates. In that way, Amazon is a juggernaut whose growth Walmart will be unable to impede by investing in its own digital sales platform.

Even though Walmart’s online sales grew 79% last year, it’s clear Amazon remains a continuing threat, which is why last year it launched its own Prime-like member loyalty program, Walmart+.

When Amazon is declared the biggest U.S. retailer in a few years, look at the fine print.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

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Rich Duprey has no position in any of the stocks mentioned. John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Amazon and recommends the following options: long January 2022 $1920 calls on Amazon and short January 2022 $1940 calls on Amazon. The Motley Fool Australia has recommended Amazon. 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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This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

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The EnviroSuite Ltd (ASX: EVS) share price is climbing higher after a leadership update from the Aussie environmental intelligence solutions provider.

At the time of writing, the EnviroSuite share price is trading at 13 cents, up 4.17%. 

Why is the EnviroSuite share price moving?

Shares in the Aussie company have climbed higher in early trade after unveiling a new member in its leadership team. EnviroSuite has welcomed Mr Alberto Calderon, former CEO of Orica Ltd (ASX: ORI) as an advisor to the CEO.

Today’s release said Mr Calderon is “highly regarded in the broader business industry as an innovator within large corporates, particularly around the adoption of technology-led improvements”.

EnviroSuite said his addition to the team in an advisory capacity provides “strong validation” to the company’s environmental intelligence offering. Mr Calderon will provide active introductions to accelerate sales and provide feedback on messaging and refinement in its future product roadmap.

The appointment has also helped push the EnviroSuite share price higher this morning. The company said Mr Calderon’s experience at Orica and BHP Group Ltd (ASX: BHP) will be “invaluable”. He will focus on driving sales in several key segments such as mining, water, and airports.

That news has been well-received this morning with the EnviroSuite share price jumped more than 4% at the market open.

Mr Calderon will work closely with EnviroSuite CEO Jason Cooper to provide a range of high-level executive and project support. That includes strategic advice, preparing briefings, and also implementing strategic changes to support the achievement of the organisation’s operational objectives.

Furthermore, EnviroSuite has granted Mr Calderon 10,000,000 unlisted options as part of his remuneration package. 5,000,000 of those are exercisable immediately. However, 2,500,000 will vest in 12 months and the final 2,500,000 will vest in 18 months. The options have an exercise price of 20 cents per option and an exercise period of 4 years.

The news has sent the EnviroSuite share price surging in early trade. Shares in the Aussie company’s rose 4% to start the day on the back of the appointment.

Foolish takeaway

The EnviroSuite share price has climbed higher this morning after announcing its latest Advisor to the CEO. Mr Calderon brings deep industry expertise and an innovative mindset to the environmental intelligence solutions group.

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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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IOOF Holdings Limited (ASX: IFL) shares are slumping today despite the company revealing its funds under management increased by $1.5 billion over the past quarter. At the time of writing, the IOOF share price is trading 0.56% lower at $3.57.

IOOF is a financial services company that provides advisers and their clients with financial advisory services, portfolio management and administration, and investment management products.

Let’s take a look at what its quarterly update reveals.

How has IOOF been performing?

The IOOF share price is on the slide after the company released its third-quarter (Q3) FY2021 business update to the ASX this morning. The company advised that funds under management, advice and administration (FUMA) was up by $1.5 billion to $203.9 billion for the quarter to 31 March 2021.

“Favourable market conditions” created a $5.4 billion market uplift, according to the company. The $267 million in net inflows from portfolio and estate administration represents a significant jump from the $180 million generated in the prior comparative period.

The company reported $1.4 billion in net outflows through its financial advice arm, and outflows of $2.1 billion from 53 advisers departing IOOF’s self-employed advice businesses, as the company previously envisaged. IOOF is expecting a further 140 of these advisers to exit the business over the coming months.

In its investment management portfolio, the company reported $507 million in net outflows, including $469 million in outflows due to “AET cash product simplification”. It also noted $782 million in net outflows through the company’s pension and investment funds.

Management comments

IOOF CEO Renato Mota said the fund had performed well and was focusing on improving key areas:

We continue to deliver on the transformative agenda for the business. The strength, scale and economic diversity of our business model has supported this solid quarter and increase in FUMA.

Our Portfolio & Estate Administration segment saw positive net flows again. We continued to deliver organic growth in our contemporary platform offerings and we have seen continued expansion in the independent financial adviser (IFA) market

IOOF share price snapshot

The IOOF share price has been a pretty volatile performer over the past 12 months and has declined significantly since its yearly high of over $5.18 in July 2020. IOOF shares are up by less than 2% in 2021 so far but have risen by around 3% over the past week.

More reading

• Why the IOOF (ASX:IFL) share price is on watch 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 WISR Ltd (ASX: WZR) share price has rocketed nearly 7 per cent higher this morning after reporting 275 per cent revenue growth.

Why is the Wisr share price surging?

Wisr this morning provided a trading update for the quarter ended 31 March 2021 (Q3 2021). Wisr reported an “accelerated” Q3 2021 of new loan originations, revenue growth and loan book quality metrics.

Operating revenue was a record $7.5 million for the quarter, up 275 per cent on Q3 2020 numbers. It was also a 27% increase on the $5.9 million booked in the December quarter.

Wisr has now posted 19 consecutive quarters of loan book growth. Third quarter loans totalled $97.8 million, up 151% on Q3 2020 and 17% on Q2 2021. The Aussie financial wellness provider reported “consistently low” 90+ Day arrears at 0.83%.

Secured vehicle loan products are now sitting at $21.9 million or 22.5% of the $97.8 million book. The Wisr share price has rocketed higher on the back of the update, jumping 6.8% at the open where it remains at the time of writing.

Wisr said the Q3 2021 results “exemplified the success of the Wisr Financial Wellness Platform and its impact on Wisr customers’ financial wellbeing”. The company said it remains strongly capitalised with $35.5 million in cash and liquid loan assets. 

Wisr also executed a $21.5 million unsecured corporate loan facility during the quarter which will include drawdown at Wisr call. It also upsized its $350 million warehouse loan funding facility during the March quarter. This has allowed the loan book to continue growing, helping push the Wisr share price higher during the quarter.

Offshore, Wisr said its strategic investment in Arbor EU provides a pathway to the A$1.76 trillion European consumer finance market. Wisr’s upfront consideration is $400,000 cash with further investment subject to Arbor achieving milestones.

The Wisr share price is rocketing higher on the back of yet another strong quarterly update from the Aussie financial wellness group.

More reading

• Wisr outshines Cash Converters (ASX:CCV) share price on loan book updates
• Why the Wisr (ASX:WZR) share price is on the move
• Why the Wisr (ASX:WZR) share price is on watch

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 Dacian Gold Ltd (ASX: DCN) share price is one ASX share to watch today. Shares in the Aussie gold miner have dropped 5.4% in early trade after the company’s latest quarterly update.

Why is the Dacian Gold share price slumping?

The big news today was Dacian’s latest production and activities numbers. Dacian reported March quarter production of 21,400 ounces of gold at an all-in sustaining cost (AISC) of $1,874 per ounce. Those numbers came from the Mt Morgans Gold Operation (MMGO) output with year to date production of 81,361 ounces.

Managing Director Leigh Junk said, “While we were anticipating that production for the March quarter would be our lowest for the financial year, the result was below expectations”.  The disappointing result came as material movement productivities were below expectations due to operator shortages amid a tighter Western Australian labour market.

The Dacian Gold share price has tumbled lower on the back of this morning’s disappointing quarterly update. That’s despite Dacian maintaining FY2021 guidance of 110,000 to 120,000 ounces at an AISC of $1,400 to $1,550 per ounce.

The Aussie miner reported cash and gold on hand of $28.3 million at the quarter end having repaid $2.0 million of debt during the quarter.

Dacian completed more than 30,000 metres of exploration and resource definition drilling during the quarter. Mineral Resource estimation is underway across its Jupiter, Westralia, Mt Marven and Redcliffe mining areas.

Dacian also said Ore Reserve estimation activities are underway ahead of an updated Life-Of-Mine plan due in the September quarter.

Foolish takeaway

Investors have smashed the Dacian Gold share price on the back of this morning’s quarterly miss. Shares in the gold miner slumped more than 5% at the open in a tough week for ASX gold shares.

The St Barbara Ltd (ASX: SBM) share price was smashed on Wednesday after a disappointing quarterly result for the major Aussie producer.

More reading

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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 Apple Inc (NASDAQ: AAPL) share price will be a hot topic today after the biggest company in the world released its results for the second quarter. Not only were they impressive… they were astonishing – beating analysts’ expectations by significant margins.

Hence, I pose the question, could Apple be the first US$3 trillion company. I’ll run through the results and let you decide for yourself. At the time of writing, the Apple share price is 2.36% higher at US$136.73 in after-hours trade.

Huge demand across all products

When it comes to Apple’s products, it isn’t a one-trick pony. Anyone who has an iPhone will understand how easy it is to fall into the Apple ecosystem. Before you know it, the Apple Watch, Airpods, iPad, and Macbook are all expediting money out of the back pocket. This means, when one breaks, it’s almost impossible to reach beyond the Apple fortress for an alternative.

This, in addition to refreshes in the product line-up, has helped the company achieve double-digit growth in all of its product categories. iPhone sales jumped 65.5% from last year. While computers and iPad sales lunged 70.1% and 79% higher respectively.

The truly mind-blowing aspect of this is we’re not talking millions of dollars of sales. No, this is tens of billions of dollars’ worth of sales. Apple’s total revenue increased 53.7% year over year (YoY) to US$89.58 billion. This was more than 15% higher than analysts’ forecasts of US$77.36 billion.

Apple growing 54% YoY at $90B scale. My brain: pic.twitter.com/sgznAJZgJ8

— Aaron Levie (@levie) April 28, 2021

https://platform.twitter.com/widgets.js

Furthermore, Apple recorded earnings per share (EPS) of US$1.40. This amounts to US$23.63 billion in net income, compared to US$11.25 billion for the same time last year. 

Apple share buyback of $90 billion

The company also announced its plan to buy back US$90 billion worth of Apple shares. This is despite the Apple share price being near record highs.

In a bullish sign, this buyback program is significantly larger than the US$50 billion carried out last year, and the US$75 billion in 2019.

In addition to the buyback, Apple also declared a cash dividend of US22 cents per share. Shareholders will be pleased, with this being 7% higher than last year.

Foolish takeaway

It is hard to believe a company doing nearly US$300 billion a year in revenue is still growing at over 50% YoY. Growth at scale is one of the most difficult challenges to overcome in business. Yet, Apple continues to deliver and expand upon its product offerings.

The Apple share price has delivered a return of 85% in the past year. The company will need to navigate silicone shortages and continue to invent quality products to break the $3 trillion barrier.

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Mitchell Lawler owns shares of Apple. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Apple and recommends the following options: short March 2023 $130 calls on Apple and long March 2023 $120 calls on Apple. The Motley Fool Australia has recommended 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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