The MedAdvisor Ltd (ASX: MDR) share price is soaring today after the company announced an extension of a health program deal.

In early afternoon trade, the medication management platform provider’s shares are swapping hands for 33.5 cents, up 3.8% after reaching an intraday high of 35 cents.

Let’s take a closer look at what’s driving the MedAdvisor share price higher today.

Health program extension

In its release, MedAdvisor advised that a global pharmaceutical company has extended its United States health program deal for an estimated additional 3 months. The contract extension is expected to generate US$4.7 million in revenue for MedAdvisor.

This follows a previously signed agreement that saw MedAdvisor provide its platform to the pharmaceutical company over a 5-month period. That deal alone was worth US$3.7 million.

Although MedAdvisor did not specify which company was behind the contract extension, it is believed to be from a top 10 global pharmaceutical company.

Words from management

MedAdvisor CEO and managing director Robert Read hailed the company’s success, saying:

We’re delighted to have another health program extended in the US market. These health programs deliver tailored content specifically to the right patients based on advanced algorithms and are designed to ensure they are aware of the benefits of certain medications or vaccines.

MedAdvisor continues to expand its global deal pipeline as it establishes scalable revenue streams both domestically and abroad. Our US pipeline of 2021 deals is ahead of this time last year.

MedAdvisor share price snapshot

The MedAdvisor share price hasn’t moved much over the last 12 months, rising a modest 6%. Its year-to-date performance, however, is marginally down around 2%.

MedAdvisor shares reached a multi-year high of 66.5 cents in late May 2020 before treading lower.

Based on valuation grounds, the company commands a market capitalisation of more than $124 million, with 359.4 million shares outstanding.

More reading

• Why Brickworks, McPherson’s, MedAdvisor, & Premier Investments are storming higher

Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of MedAdvisor. The Motley Fool Australia has recommended MedAdvisor. 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 Strike Energy Ltd (ASX: STX) share price flew at the market open today, trading 3% higher. At the time of writing, the share price has retreated to  32 cents, up 1.59%.

The positive movement comes after the company gave another update on its joint-venture gas field with Warrego Energy (ASX: WGO). Currently, shares in the company are trading for 32 cents each. By comparison, the S&P/ASX All Ordinaries Index (ASX: XAO) is up 0.18%.

Let’s take a closer look at some of Strike’s latest ventures.

The West Erregulla gas field

The Strike Energy share price is up today. In a statement to the ASX, Strike provided another update on its West Erregulla gas field. Indeed, this is the fourth update on the site provided to the ASX this month. However, this announcement relates to the appraisal process of the gas field.

On current operations, Strike Energy states:

Since the last update, Strike has continued drilling operations…[in] the high-quality section of the primary target in the early Permian Kingia Sandstone. Strike believes it encountered the top of the Kingia Sandstone at approximately 4,870m. Strike has successfully passed through the Carynginia Shale and Irwin River Coal Measures, where gas shows were observed throughout.

According to the statement, in the immediate term, Strike Energy intends to begin drilling and extraction at the well. Investors are obviously taking the news well, and it reflects in the Strike Energy share price.

Notably, the West Erregulla gas field contains approximately 1.6 trillion cubic feet of gas. 

Strike Energy awarded Perth Basin block

In other recent developments, Strike also announced it was the successful bidder for the “highly prospective” Perth Basin block. The block is located at the southern end of the gas basin. Two natural gas pipelines already run adjacent to the block, on either side of it.

It is surrounded on all sides by other gas fields, including West Erregulla. The Iluka Resources Limited (ASX: ILU) Eneabba mineral sands and rare earth mine is also located nearby to the site. Strike believes the miner could be a potential energy customer if there is a successful discovery.

Speaking on the news, Strike Energy managing director and CEO, Stuart Nicholls, said:

The award of this exciting acreage is an acknowledgement of Strike’s developing position in Western Australia as a future domestic energy and fertiliser supplier.

The addition of this block almost completes the connection of Strike’s acreage, making a contiguous land holding from North to South. This position in the Basin is adjacent to the North/South extensional faults which provide the primary route for hydrocarbon migration across the basins various plays.

Strike Energy share price snapshot

Over the last 12 months, the Strike Energy share price has appreciated 204.76%. Its current share price is only slightly lower than its 52-week high of 35.5 cents. That record was achieved in January this year.

The gas producer has a market capitalisation of $551.2 million.

More reading

• Warrego Energy (ASX:WGO) share price rises despite losses increasing

Motley Fool contributor Marc Sidarous 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 Atlas Arteria Group (ASX: ALX) share price is performing well today. Atlas Arteria shares are up a solid 1.25% to $6 a share at the time of writing. Consequently, outperforming the S&P/ASX 200 Index (ASX: XJO), which is up 0.34%.

It’s a welcome development for Atlas Arteria shareholders. Just one month ago, they were watching the Atlas share price hit a low of $5.49 a share. Even after today’s move though, Atlas shares are still down roughly 7% year to date. As well as close to 14% down from the most recent 52-week high. They are also down close to 30% from the pre-COVID high watermark of ~$8.40.

Why are Atlas Arteria shares rising today?

Today’s moves in the Atlas Arteria share price are almost certainly the result of an ASX announcement the company made this morning. In this announcement, Atlas announced a final dividend distribution for shareholders covering the six months to 31 December 2020. This final dividend distribution will come in at 13 cents per share (stapled security) and will be paid out on 9 April, with an ex-dividend date of 30 March. This payout will not come with franking credits.

Shareholders have reason to be pleased with this distribution. Atlas Arteria did not pay a dividend in March last year due to the unfolding pandemic. The company’s previous interim payout came in at 11 cents per share, which was paid back in September 2020. Although saying that, the final distribution for 2019 was 15 cents per share.

On the current share price, Atlas Arteria has a trailing dividend yield of 4.27%.

Who is Atlas?

Atlas Arteria is a toll roads operator. It was formed in 2010 after the old Macquarie Infrastructure Group split into Intoll and Macquarie Atlas, which was later renamed to Atlas Arteria in 2018. Although Atlas is an ASX company, its assets lie predominantly outside Australia. It’s crown jewels are the Warnow Tunnel in Germany, and the Dulles Greenway road in the US state of Virginia. Atlas also owns stakes in two toll roads in France.

At the current Atlas Ateria share price, the company has a market capitalisation of $5.79 billion.

More reading

• ASX 200 up 0.3%: Brickworks impresses, Resolute hammered, Netwealth crashes
• The ASX sector set to outperform this morning thanks to Suez
• 5 things to watch on the ASX 200 on Thursday
• ASX 200 rises, Airtasker soars again, Westpac considers NZ
• How is Australia’s jobs rebound affecting ASX shares?

Motley Fool contributor Sebastian Bowen 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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In early afternoon trade the S&P/ASX 200 Index (ASX: XJO) is on form and pushing higher again. At the time of writing, the benchmark index is up 0.3% to 6,799.7 points.

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

Brickworks Limited (ASX: BKW)

The Brickworks share price has climbed 4% to $19.67. Investors have been buying the building products company’s shares following the release of its half year results. Although its underlying earnings were down 10% on the prior corresponding period to $90 million, management spoke positively about its outlook. This appears to be an indication that the worst is now behind Brickworks.

McPherson’s Ltd (ASX: MCP)

The McPherson’s share price has jumped 13% to $1.38. This follows news that McPherson’s has received a takeover approach from Gallin Pty Ltd at $1.34 cash per share. Gallin has been incorporated specifically for the purpose of acquiring an interest in McPherson’s. It is owned by Kin Group, which is controlled by the Geminder family. Kin Group attacked McPherson’s management for destroying shareholder wealth. The McPherson’s board responded by saying that the offer is “utterly opportunistic and profoundly undervalues” the company.

Medadvisor Ltd (ASX: MDR)

The MedAdvisor share price is up 3% to 33.5 cents. Investors have been buying the medication management company’s shares following the release of a positive announcement. MedAdvisor has revealed that a global pharmaceutical company has extended its health program deal for an estimated 3 months. This is expected to be worth US$4.7 million.

Premier Investments Limited (ASX: PMV)

The Premier Investments share price has stormed over 4% higher to $24.88. The catalyst for this was the release of a broker note out of Macquarie this morning. According to the note, the broker has retained its outperform rating and lifted its price target to $31.00. Macquarie was impressed with the retail conglomerate’s first half result.

More reading

• ASX 200 up 0.3%: Brickworks impresses, Resolute hammered, Netwealth crashes
• Why the McPherson’s (ASX:MCP) share price is zooming 14% higher today
• Brickworks (ASX:BKW) share price higher following half year results
• Top broker puts sell rating on Premier Investments (ASX:PMV) share price
• 5 things to watch on the ASX 200 on Thursday

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of MedAdvisor. The Motley Fool Australia owns shares of and has recommended Brickworks and Premier Investments Limited. The Motley Fool Australia has recommended MedAdvisor. 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 Ava Risk Group Ltd (ASX: AVA) share price is edging higher today after the company announced that it has won a multi-site rail contract award.

At the time of writing, shares in the risk management services and technologies company are up 2.9% to 52.5 cents.

Ava Risk’s latest contract

Investors are pushing the Ava Risk share price higher following the company’s latest contract win.

In this morning’s release, Ava Risk announced it has secured a $1.84 million deal to deploy its Aura Ai sensing solution to a number of major rail facilities in South America.

Aura Ai-2, developed by Future Fibre Technologies (FFT), is an advanced and versatile perimeter intrusion detection system. The product platform applies artificial intelligence to detect and locate intruders who climb, cut or lift perimeter fences.

The company’s Aura Ai sensing product will be installed across a multi-site program to upgrade security systems. This will be completed by fully-integrating the package with the customer’s existing video management software and CCTV system.

Ava Risk noted that its first purchase order has already been received, valued at $0.61 million. The initial rollout is scheduled for early Q4 FY21, with the remaining sites completed before the end of the quarter.

Word from the manager

Ava group CEO Rob Broomfield welcomed the deal, saying:

FFT Aura Ai-2 was the solution selected to protect the rail sites, due to our exceptional event classification capability, extended sensing distance, and cut resilience capability.

A further key factor in the contract win was FFT’s previous success in protecting railway infrastructure and the company’s strong reputation across the broader transportation sector.

Ava Risk share price summary

The Ava Risk share price has jumped to more than 400% over the past 12 months. However, its shares are down around 10% year-to-date.

Based on the current share price, Ava Risk has a market capitalisation of $123.2 million, with 241.6 million shares outstanding.

More reading

• What’s with the Ava Risk (ASX:AVA) share price 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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Race Oncology Ltd (ASX: RAC) shares are slipping in late morning trade despite the company providing a positive update. At the time of writing, the Race share price has slumped 1.27% lower to $3.90.

Below we take a look at the ASX healthcare share’s collaborative preclinical study announcement.

What did the company announce?

The Race share price is moving lower after the company reported it has entered into a collaborative preclinical research program with The University of Newcastle.

Well-known cancer researcher, Associate Professor Nikki Verrills, will lead the study. Verrills has previously collaborated with Race in the ASX pharmaceutical company’s preclinical breast and ovarian cancer programs.

According to today’s release, the collaborative program will use “cellular models to investigate Bisantrene as a novel treatment for clear cell renal cell carcinoma (ccRCC)”. ccRCC is a type of kidney cancer, with a 5-year survival rate of only around 12%.

Race’s Bisantrene is a targeted inhibitor of the Fat Mass and Obesity associated protein (FTO). According to Race, earlier studies have indicated “FTO enzyme activity is essential for ccRCC survival and the inhibition of FTO can directly kill more than 90% of ccRCCs”.

Commenting on the preclinical study, Race Oncology chief scientific officer Daniel Tillett said:

This is a very important project for Race and we are looking forward to collaborating further with Associate Professor Verrills. Recent scientific developments have identified Bisantrene as a potent targeted agent of FTO which offers the possibility of novel treatment options for patients with kidney cancer that can rapidly be translated into the clinic.

We are excited about this research which will further our knowledge of Bisantrene and it adds to the FTO-directed preclinical work we have just initiated in melanoma.

Race said the project will commence immediately and it expects to report results to the market over the next 12 months.

Race Oncology share price snapshot

There’s no doubt Race Oncology shareholders who bought shares 12 months ago are pleased. Race shares are up a jaw-dropping 1,460% over the past full year, compared to a gain of 40% on the All Ordinaries Index (ASX: XAO).

So far in 2021, the Race share price is up by 100%.

More reading

• Race Oncology (ASX:RAC) share price slides on a new melanoma preclinical study
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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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The Black Cat Syndicate Ltd (ASX: BC8) share price is moving higher in early morning trade. At the time of writing, the Black Cat share price is up 1.5% to 68 cents.

Below, we take a look at the ASX gold miner’s latest acquisition announcement.

What acquisition did Black Cat report?

The Black Cat share price is moving higher after today. This comes after the company reported it has exercised its option to acquire a 1.5 million tonnes per annum (mtpa) milling facility.

The facility, consisting of 2 mills, will be used at its Kal East Gold Project, near Kalgoorlie, Western Australia. Additionally, the company reports that with 756 square kilometres of tenements, Kal East contains a combined JORC 2012 Mineral Resource of 14.3Mt @ 2.2 g/t Au for 1,025,000 ounces of gold.

Black Cat will acquire the milling facility, inclusive of associated equipment, for a total of $1.24 million. It has already paid $100,000.

The company said it will build the facility in 2021, some 50 kilometres east of Kalgoorlie. Black Cat will initially install 1 of the 2 mills it has acquired. Furthermore, the second mill will be on standby for future milling capacity expansion.

Management commentary

Commenting on the milling facility acquisition, Black Cat’s managing director, Gareth Solly said:

The milling facility is ideal for our planned processing facility and includes sufficient grinding capacity for potential future expansion. Due diligence by a team of experts has confirmed that the facility was operated for less than five years, has been well maintained and is in excellent condition. We are currently estimating the impact this milling facility has on our construction schedule and construction cost estimates for both the initial facility as well as the potential expansion case.

Black Cat share price snapshot

Over the past 12 months, the Black Cat Share price has been a star performer, up 166%. Comparatively, that’s a gain of 40% on the All Ordinaries Index (ASX: XAO).

The gold price is also up over the past full year, gaining 7.3% to the current US$1,734 (AU$2,266) per ounce. Year-to-date the gold price has dropped 8.7%. This is reflected in Black Cat’s shares. So far in 2021, the Black Cat share price is down 7.6%.

More reading

• Up 1,460% in a year, why the Race Oncology (ASX:RAC) share price is sliding today
• ASX 200 up 0.3%: Brickworks impresses, Resolute hammered, Netwealth crashes
• What’s happening with the Galaxy (ASX:GXY) share price today?
• 2 ASX shares rated as strong buys by brokers
• Strategic Elements (ASX:SOR) share price rises after latest announcement

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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At lunch on Thursday the S&P/ASX 200 Index (ASX: XJO) is on course to record another gain. The benchmark index is up 0.3% to 6,801.6 points.

Here’s what is happening on the market today:

Brickworks half year result

The Brickworks Limited (ASX: BKW) share price is pushing higher today following the release of its half year results. Although the building products company’s underlying earnings were down on the prior corresponding period, management spoke positively about its outlook. This appears to be an indication that the worst is now behind Brickworks.

Resolute share price hammered

The Resolute Mining Limited (ASX: RSG) share price has been hammered on Thursday. This follows news that its Bibiani Gold Mine licence in Ghana has been terminated. As a result, it has been advised to cease all activities and operations at the site. This shock news now casts doubt on the company’s sale of the asset to Chifeng Jilong Gold Mining.

HUB24 and Netwealth crash

The HUB 24 Ltd (ASX: HUB) share price and the Netwealth Group Ltd (ASX: NWL) share price are crashing lower today. This follows the release of an announcement out of the latter this morning. According to the release, Netwealth’s agreement with Australia and New Zealand Banking GrpLtd (ASX: ANZ) in relation to the interest payable on the total pooled cash transaction account is to be terminated in 12 months. The agreement currently provides a margin of 95 basis points above the overnight cash rate.

Best and worst ASX 200 performers

The best performer on the ASX 200 on Thursday has been the Premier Investments Limited (ASX: PMV) share price with a 6% gain. This morning analysts at Macquarie retained their outperform rating and lifted their price target to a lofty $31.00. The worst performer has been the Resolute share price with a 22% decline after its shock update.

More reading

• Why the Netwealth (ASX:NWL) share price is sinking 15% lower today
• Brickworks (ASX:BKW) share price higher following half year results
• The ASX sector set to outperform this morning thanks to Suez
• Top broker puts sell rating on Premier Investments (ASX:PMV) share price
• Why the Resolute (ASX:RSG) share price will be in focus this morning

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Hub24 Ltd. The Motley Fool Australia owns shares of and has recommended Brickworks and Premier Investments Limited. The Motley Fool Australia owns shares of Netwealth. The Motley Fool Australia has recommended Hub24 Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Galaxy Resources Limited (ASX: GXY) share price has struggled in recent months despite stronger lithium prices and a steady flow of positive updates. 

Galaxy shares are down 0.43% year to date and have failed to launch far out of the starting blocks in trading so far today. At the time of writing, the Galaxy share price is up 0.43% at $2.32.

This comes as the lithium miner confirmed the achievement of battery-grade lithium carbonate at its wholly-owned brine project, Sal de Vida. 

Galaxy share price flat despite positive update 

Galaxy is advancing the development of its Sal de Vida lithium brine project in Argentina. The project is situated in the lithium triangle where Chile, Argentina and Bolivia meet, which is currently the source of more than 40% of global lithium production. 

Galaxy has highlighted Sal de Vida as a tier 1 asset with high grades, a large scale and a long life brine resource. The company has de-risked the development plan, having received a majority of permits required. The project is on schedule to target its first production in late 2022, in time for the forecasted lithium demand surge.  

Today, Galaxy announced that it had achieved battery-grade lithium carbonate from its simplified evaporation flowsheet. Test work and piloting over the previous 12 months has steadily improved the flowsheet process required to extract brine, evaporate water and remove impurities, resulting in improved product quality and project metrics.

The company advised this achievement and addition could be seamlessly incorporated into the stage 1 project development schedule at Sal de Vida without any delay. 

What did management say?

Commenting on the achievement, Galaxy CEO Simon Hay said:

Our technical development and Argentinian site teams have progressively improved product quality over the course of piloting and test work. This strategy has now achieved a major milestone with Galaxy adopting battery grade quality as the design basis for Stage 1.

Successful production of battery grade increases Galaxy’s revenue generating potential and widens the customer base. Offtake discussions will now be advanced with interested customers.

This technological breakthrough is unique to conventional evaporation processes and is an outstanding development achievement for the Sal de Vida team. Galaxy remains on track to execute and deliver a highly competitive, low-cost project to the market in time for the forecast lithium demand surge.

Sal de Vida currently represents a significant proportion of Galaxy’s lithium resource.  The company’s corporate presentation highlights that Sal de Vida contains more than half of its total resource base of 6.8 million tonnes of lithium carbonate equivalent. 

More reading

• Why the Galaxy Resources (ASX:GXY) share price is falling today
• ASX lithium shares on watch as lithium prices eye 2-year high
• Goldman reaffirms its conviction buy on this ASX share on Yallourn shutdown
• Top brokers name 3 ASX shares to sell today
• Here’s why the Galaxy (ASX:GXY) share price is pushing higher today

Motley Fool contributor Kerry Sun 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 share brokers are always on the lookout for opportunities to buy which could be undervalued.

If there’s an ASX share that is liked by many brokers at once. A business that’s seen as an opportunity by many brokers could be worth looking at.

Here are two that several brokers like right now:

Alliance Aviation Services Ltd (ASX: AQZ)

Alliance Aviation describes itself as a leading air charter services operator, dedicated to providing specialised services for the resources industry, and inbound and domestic group travel.

It’s currently liked by at least three brokers. Credit Suisse has a price target of $5.40 for the charter flight business, which suggests a potential upside of around 35% over the next 12 months.

The broker is impressed by how quickly the company seems to be improving and its cashflow also seems to be going well.

In the FY21 half-year result it saw operating revenue go up 2.3% to $154.8 million, underlying profit before tax increased by 72.3% to $26.7 million and operating cashflow surged 225.3% to $47.5 million.

Net debt reduced to just $6.9 million at the end of the period.

The number of aircraft in service continues to increase and it’s becoming more efficient when it comes to revenue per employee.

Alliance Aviation has a positive outlook for FY21 and is forecasting growth into FY22 and beyond.

The ASX share is expecting to see contract revenue continue to increase as the annualised impact of increased schedules is realised. Revenue streams impacted by COVID-19 in the second half of FY20 are showing signs of growth now.

HomeCo Daily Needs REIT (ASX: HDN)

This is a real estate investment trust (REIT) that mostly owns city-located property assets relating to local shopping centres, large format retail real estate and health and services.

Morgans rates the ASX share as a buy, with a price target of $1.45. It’s liked by at least two other brokers right now. 

It has a portfolio worth almost $1 billion with tenants like Woolworths Group Ltd (ASX: WOW), Coles Group Ltd (ASX: COL), Wesfarmers Ltd (ASX: WES), Super Retail Group Ltd (ASX: SUL), IGA, Spotlight, Aldia, Chemist Warehouse and Petstock.

The ASX share continues to buy new assets, such as a Bunnings location for $56 million and the Marsden Park Shopping Centre for $48 million.

It has an occupancy rate of 98.7% and a ‘trading occupancy’ of 96.7%, which has improved from earlier disclosures.

For FY21 it’s expecting to generate funds from operations (FFO) of $20.5 million, or 4.2 cents per unit, which was a 9% increase of its previous forecast. It’s also expecting to pay a FY21 distribution of 4.2 cents per unit.

That translates to a yield of 3.25% for FY21. In FY22, Morgans is expecting a payout of 8 cents per unit, which is a yield of 6.2%.

The business has $22 million of brownfield development projects scheduled for opening in FY22, which is expected to deliver a cash yield of more than 10% per annum.

More reading

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• Suncorp (ASX:SUN) share price sinks today after floods update
• Why the Netwealth (ASX:NWL) share price is sinking 15% lower today

Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Super Retail Group Limited. The Motley Fool Australia owns shares of COLESGROUP DEF SET, Wesfarmers Limited, and Woolworths Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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