The Centuria Capital Group (ASX: CNI) share price is lifting today after the company announced its plan to acquire Primewest Group Ltd (ASX: PWG).

The proposed merger of the two real estate platforms will result in an entity with more than $15 billion of assets under management (AUM).

At the time of writing, the Centuria share price is 1.8% higher to $2.82 per share. Meanwhile, the smaller Primewest Group share price has surged 5.8% to $1.55.

Details of the deal

Real estate group Centuria is seeing shareholder interest in today’s trading session after news of the takeover of Primewest. The update follows the group entering a bid implementation deed (BID) in relation to a merger transaction with Primewest via an off-market takeover offer.

The Primewest board has unanimously recommended the offer unless a superior proposal is received. Under the terms of the deal, Primewest security holders will receive $1.51 per security held. This will comprise 20 cents of cash per security, along with 0.473 Centuria securities per Primewest security, representing $1.31 based on the larger property group’s traded share price on 16 April.

If the merger goes ahead, the combined group will hold $15.5 billion AUM, representing an increase of 52% for Centuria.

Another potential future Centuria share price catalyst could be index inclusion. The amped-up size would have Centuria well placed for S&P/ASX 200 Index (ASX: XJO) inclusion, with an estimated pro forma market capitalisation of $2.2 billion.

Increased Centuria share price return?

It was only just under a month ago that Centuria tapped the market for $100 million in new funding. We now know where that cash will likely be going.

A combined Centuria and Primewest is expected to deliver an enhanced geographically diversified property portfolio. Primewest would add new exposure to daily needs retail, larger format retail, and agriculture sectors for Centuria.

Additionally, the board expects the merger to be financially attractive. If all goes to plan, the merge would add 4% to Centuria’s FY21 pro forma earnings per security.

Centuria chair Garry Charny provided commentary on the announced merger:

The proposed Centuria/Primewest merger is consistent with Centuria’s dual strategy of asset acquisitions and corporate M&A, where this is sympathetic to Centuria’s business model.

Primewest is a high quality, well-established fund manager and the Centuria board looks forward to the successful completion of the merger and building on Centuria’s position as a leading Australasian property fund manager.

What’s next?

Lastly, the proposed merger is contingent on gaining a minimum acceptance of at least 90% of all Primewest securities. BID statements will be dispatched mid-May, where security holders will have the chance to vote on the proposal. If all bidder conditions are met by mid-June, the merger process will commence. 

The Centuria share price has delivered a terrific 67% to shareholders. However, throwing in dividends payouts on top, trailing 12-month returns boost to 80.3%.

More reading

• Why did the Centuria (ASX:CNI) share price drop today?

Motley Fool contributor Mitchell Lawler 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 Moneyme Ltd (ASX: MME) share price is edging higher in mid-morning trade following a trading update for Q3 FY21.

At the time of writing, the digital credit company’s share price is fetching for $1.45, up a marginal 0.3%.

How did MoneyMe perform?

MoneyMe shares are relatively flat despite delivering a robust performance for the quarter.

For the period ending 31 March 2021, MoneyMe reported originations of $108 million, reflecting a 57% increase on Q2 FY21. Over the prior corresponding period (pcp), this metric grew 111% ($51 million in Q3 FY20).

Gross customer receivables also surged to $233 million, a lift of 63% on the prior comparable period. Growth from the company’s existing personal loan and freestyle products predominately drove the result.

MoneyMe noted that while the overall consumer credit market remained flat, its ‘Generation Now’ suite of offers attracted new cliental.

Following on to earnings, the company achieved a record of $15 million in revenue for Q3 FY21. In the prior quarter, revenue stood at $12 million, representing a 25% increase. MoneyMe revealed that it is expecting contracted revenue to come in at $19 million for Q4 FY21.

The average customer receivables term also jumped to 35 months, up from 32 months in the last quarter.

Funding costs reduced to 6% as compared to 9% in the first-half of FY21. The group noted the improvement came leveraging its bank warehouse facility. Furthermore, core operating cost margins pleasingly declined to 9% in Q3, down from 12% realised in H1 FY21.

Lastly, MoneyMe reaffirmed the quality of its credit book, attaining an average Equifax score to 644. This metric represents a credit scoring model, with any number between 580 to 669 considered as fair.

What did management say?

MoneyMe managing director and CEO, Clayton Howes hailed the strong result, saying:

We are incredibly pleased to report the growth and momentum the business is achieving, with increasing revenues and another set of records in originations and customer receivables.

Our business is accelerating with the credit quality of our customers increasing and it is fantastic to see the strong take-up of our recently launched products by our customers and merchants.

MoneyMe share price review

The MoneyMe share price has gained over 60% in the past 12 months, but is unchanged from year-to-date performance. The company’s shares have travelled little since September 2020, last reaching a 52-week high of $2.00 the month before.

On valuation grounds, MoneyMe presides a market capitalisation of around $244.3 million, with 171.4 million shares on issue.

More reading

• ASX stock of the day: Moneyme (ASX:MME) shares in the spotlight

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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FYI Resources Ltd (ASX: FYI) shares have risen significantly over the past week amid news the Australian miner will begin trading on the US over-the-counter markets. At the time of writing, the FYI share price is up 2.61% today to 59 cents per share. This brings FYI’s gains over the past week to 13.46%.

FYI Resources is an Australia-based company focused on two key businesses and geographical segments. These are exploration and evaluation of potash projects in South East Asia and a high purity alumina (HPA) exploration and evaluation project in Western Australia.

FYI is increasingly aiming at profiting from the shift towards renewable energy through its HPA exploration.

FYI trading on the US OTCQX exchange

News last week the company has commenced trading on the United States OTCQX exchange appears to be continuing to bolster the FYI share price. The OTCQX exchange represents the highest tier of US over-the-counter markets made for small shares, which were formerly known as pink slips.

FYI Resources will trade under the stock code OTCQX: FYIRF. The company says trading on the OTCQX will enhance its visibility and accessibility to the growing market of North American retail, high-net-worth and institutional investors.

It listed the primary advantages to North American investors as follows:

• Allows trading of FYI in their local time zone.
• Trades and settlements are in US Dollars (no exchange rate risk or additional fees).
• The OTCQX is a common share (same class) as the FYI shares traded on the ASX.
• All shares are maintained through the company’s current share registry, Automic Group.

FYI managing director Roland Hill commented:

We are delighted to now be part of the North American financial community and be trading on the OTCQX. FYI believes it is a perfect time to increase our exposure to one of the largest and most sophisticated markets in the world. In light of the growing US interest in E-mobility and battery related investments, as a participant in the electric vehicle revolution, FYI believes it is an important step in our future to become a participant in the OTCQX.

FYI’s lithium battery aspirations

In other news boosting the FYI share price recently, the company’s latest market update noted the potential market for its HPA material. The release noted that HPA is “increasingly becoming a primary sought-after input material for certain high-tech products.”

HPA has principally two major market streams. One is a traditional market such as LEDs and other sapphire glass products, substrates, electronics and specialty abrasives. The second market, and longer-term driver for HPA, is its application in lithium-ion batteries.

The primary function of HPA in the burgeoning electric vehicle and static energy storage markets is as a separator material between the anode and cathode in batteries to increase the power, functionality and safety of the battery cells.

FYI share price snapshot

In addition to the near-13% gains for the FYI share price over the past week, the company’s shares have soared by around 110% in 2021 so far. FYI shares have also rallied a whopping 1,375% over the past year, beating the basic materials sector by a similar margin.

More reading

• Up 1,300% in a year, why the FYI Resources (ASX:FYI) share price is rising 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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Global accommodation marketplace, Airbnb believes it will need to add millions of new hosts to accommodate guests as travel rebounds following COVID-19. Its positive view on the industry could spell good news for ASX travel shares. 

Airbnb expects travel industry to bounce back 

CEO Brian Chesky told CNBC, “I think that we probably will have a high-class problem where there will probably be more guests coming to Airbnb than we’ll have hosts for because … we think there’s going to be a travel rebound coming that’s unlike anything we’ve ever seen.” 

In addressing the pandemic’s impact on consumers, the company said, “while we believe that travel will change as a result of COVID-19, the adaptability of our business suggests that we are well-positioned to serve this dynamic market as it continues to evolve and recover”.

Why this could be good news for ASX travel shares 

As a global leader in the accommodation sector, Airbnb’s optimistic forecasts further validate a recovery in the travel industry. 

ASX travel shares, including Webjet Limited (ASX: WEB), Corporate Travel Management Ltd (ASX: CTD) and Flight Centre Travel Group Ltd (ASX: FLT), are a part of the travel ecosystem that is expected to rebound.

In some ways, ASX travel shares are playing into the same narrative as iron ore miners during a downturn in commodity markets. Household iron ore miners such as BHP Group Ltd (ASX: BHP) and Fortescue Metals Group Limited (ASX: FMG) focused on lower costs, laying in wait for prices to improve. 

The same can be said about ASX travel shares that have made significant efforts to lower costs and improve existing technologies. Now all that’s left to do is wait. 

A critical catalyst that the market is looking out for is the resumption of international travel.

It comes down to overseas travel

Qantas Airways Limited (ASX: QAN) CEO Alan Joyce has said that the vaccination program is “absolutely key” to restarting international flights in and out of Australia.

While there have clearly been some speedbumps with the vaccine rollout, we are still planning for international flights to resume in late October. We remain in regular dialogue with the Government.

Conversely, there are concerns that it could remain limited until 2024.

While the topic of international travel might remain at a standstill, today represents “monumental” progress with the start of the trans-Tasman bubble. This means that Australians will be allowed to travel to New Zealand without the need to seek an exemption or undergo hotel quarantine.  

International standstill but domestic boom 

The resumption of international travel will continue to be the primary catalyst for a re-rate in ASX travel shares.

In response to Qantas’ positive business update last week, Macquarie said that it would continue to monitor COVID-19 vaccine rollouts in key destinations like the United States and Singapore that formed a big proportion of its FY19 available seat kilometres. 

While flights to North America or Asia won’t be taking off anytime soon, domestic travel is expected to topple pre-COVID figures in the near term. Qantas forecasts domestic travel to reach approximately 80% pre-COVID capacity in the fourth quarter and 107% in FY22. 

More reading

• These are the 10 most shorted shares on the ASX
• ASX 200 Weekly Wrap: ASX 200 hits new post-COVID high
• Why ASX mining shares are likely to jump this morning
• Top brokers name 3 ASX shares to buy next week
• Why brokers are bullish on the Qantas (ASX:QAN) share price

Motley Fool contributor Kerry Sun has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Corporate Travel Management Limited and Webjet Ltd. The Motley Fool Australia has recommended Flight Centre Travel Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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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.

Cathie Wood has become one of the investing world’s most popular figures over the last year — and for good reason. The founder and CEO of ARK Invest has helped put together a collection of actively managed exchange-traded funds (ETFs) that have absolutely crushed the market over the stretch, and she’s shown a penchant for identifying innovative, tech-focused companies that have gone on to record huge gains.

With ARK funds putting up such incredible performance, we asked three Motley Fool contributors to dive into the list of individual stocks that Wood’s company is backing and pick out some favorites. Read on for a look at three companies held in ARK funds that could be primed for massive wins. 

A revolution at the intersection of healthcare and tech

Keith Noonan (Teladoc Health): Think of all the time the average person has spent traveling to and from doctor’s offices and flipping through magazines in waiting rooms. Some visits to medical centers obviously require in-person care, but imagine all of the potential time saved and convenience added if more appointments were conducted virtually.

Teladoc Health (NYSE: TDOC) is making that a reality and changing the face of healthcare — connecting patients with doctors through video conferencing and other software support services. The company also stands as one of the largest combined holdings across Wood’s ARK funds, and its stock has the makings of a long-term winner. 

Teladoc currently trades down roughly 37.5% from the 52-week high that it hit in February. The decline is partially the result of some broader pullback in stay-at-home stock valuations, but Amazon announcing plans to expand its teleconference health service business has been the bigger catalyst behind the sell-off. Amazon is certainly a resource-rich competitor, but the tech and e-commerce giant’s entrance into telehealth probably won’t end Teladoc’s growth story.

The virtual health services category is growing rapidly and should easily support multiple winners. Spurred on by social-distancing conditions, Teladoc managed to grow its revenue 98% last year. People will be making more in-person visits to the doctor as pandemic-related restrictions ease, but the long-term growth for teleconference health services is just getting started. And the company’s recent acquisition of preventative and chronic care specialist Livongo will help boost sales this year and drive growth down the line. 

Teladoc has a first-mover advantage in a category that has explosive potential, and virtual health services can provide both major quality of life improvements for patients who have difficulty traveling and greater convenience across the overall healthcare industry. With Teladoc trading well off its recent highs and offering big upside, risk-tolerant investors could see impressive returns from the stock. 

A below-the-radar EV stock

Jamal Carnette (Magna International): At $3.5 billion in assets under management, the ARK Autonomous Technology & Robotics ETF (NYSEMKT: ARKQ) tends to get overlooked outside of its significant Tesla stake. Despite Wood’s reputation as a pure growth investor, tucked into its holdings are some value stocks, including ARK’s 2% stake in automotive manufacturing company Magna International (NYSE: MGA).

Last year was difficult for the company: Sales dipped 17% to $32.7 billion mostly because of the pandemic. Analysts are bullish on the company and expect growth to resume, forecasting $40.6 billion in revenue this year. Despite the return to growth, shares still trade at only 12 times forward earnings and 0.8 times sales, both metrics less than half of the greater S&P 500.

The bulk of Magna’s revenue is as a traditional automotive supplier with expertise in contract manufacturing and parts like body exteriors and powertrains. Magna has a long track record of partnership success with Ford and General Motors, and analysts expect revenue to increase with increased economic activity.

However, it’s likely Wood is looking beyond the current year and to Magna’s future opportunities. The company is quickly becoming an innovator in electric powertrains, announcing a major joint venture with LG Electronics and landing a significant deal with EV company Fisker to manufacture its electric Ocean SUV last year.

The LG/Magna joint venture appears to be on the cusp of a groundbreaking win. Speculation is the companies are on the verge of inking a deal to handle the initial production for Apple‘s clandestine electric car project nicknamed Titan. Magna is quickly becoming a critical supplier to electric vehicle companies and should benefit from the growth of electric vehicles, regardless of which company’s name is on the hood.

The e-commerce innovator

Joe Tenebruso (Shopify): Shopify (NYSE: SHOP) is a top-10 holding for Wood in the ARK Innovation ETF (NYSEMKT: ARKK) and rightfully so. Retail sales are rapidly shifting online — and Shopify is helping more than a million merchants around the world adapt to this massive global trend. 

Shopify lies at the center of e-commerce and entrepreneurship. It provides top-tier online retail software at prices that are affordable to individual entrepreneurs and small businesses, with plans that start as low as $9 per month. Services include payment processing, fulfillment, shipping, business financing, and a host of other e-commerce solutions.

Shopify’s sales have boomed during the coronavirus pandemic along with those of its merchant customers. Its revenue rocketed 86% to $2.9 billion in 2020, as gross merchandise volume (GMV) — essentially, the total dollar amount of sales merchants generated on its commerce platform — surged 96%, to $119.6 billion. 

Moreover, Shopify’s profitability is rapidly improving as it scales its operations. Its adjusted operating income soared nearly tenfold to $437.4 million, as its adjusted operating margin improved to 15%, up from 3% in 2019. 

Best of all, Shopify has tremendous room for expansion still ahead. E-commerce sales in the U.S. and many other nations still comprise less than 20% of total retail sales. Yet these percentages are rising steadily, and if they ever approach the level at which China stands today — with online retail sales accounting for more than half of total retail sales — Shopify’s revenue and profits could continue to grow exponentially over the next decade. 

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

More reading

• Netccentric (ASX:NCL) share price soars on Shopify links

Jamal Carnette, CFA owns shares of Amazon and Ford. Joe Tenebruso owns shares of Amazon and has the following options: long January 2023 $2400.0 calls on Amazon. Keith Noonan 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, Apple, Shopify, Teladoc Health, and Tesla and recommends the following options: long January 2022 $1920 calls on Amazon, short March 2023 $130 calls on Apple, short January 2022 $1940 calls on Amazon, and long March 2023 $120 calls on Apple. The Motley Fool Australia has recommended Amazon 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 Medibank Private Ltd (ASX: MPL) share price is edging higher today following the announcement of a new CEO. Shares in the health insurance giant are currently 0.52% higher, trading at $2.90.

New CEO

This morning, Medibank announced that David Koczkar has been appointed as the new company chief executive officer (CEO). However, investors will have to wait till 17 May to see their new man in action. The news comes as Craig Drummond, CEO for the last five years, is stepping down from his role.

While new to the role, Mr Koczkar is not new to the company and has been serving Medibank as chief customer officer.

Medibank said he had been “instrumental in the growth of the company” while overseeing some of the largest changes in the private health insurance sector in Australia. Accomplishments in his previous role include improved customer growth and retention, and product improvements.

Prior to joining Medibank, Mr Koczkar was the group chief commercial officer at Jetstar. He has more than 25 years of leadership experience in the finance and consulting industry.

Management comments

Regarding both his imminent role and the previous CEO, Mr Koczkar said:

For the last seven years, I have had the privilege of working to improve our relationship with our customers, their experience and enhancing the value that we provide them. I am thrilled to be able to continue this work.

I would also like to take this opportunity to thank Craig Drummond for his leadership of our company over the last five years. He leaves our company in a stronger position, and we all remain committed to realising the ambition outlined for our customers, our owners and our people.

Terms of the new role

So how much does the new Medibank CEO stand to earn? The release said Mr Koczkar would be paid a fixed sum of $1.5 million a year. This will be reviewed annually and the remuneration includes cash, salary benefits and super contributions.

Moreover, he will also receive short and long term incentives. Of up to 150% of his annual total fixed remuneration based on performance.

On the news, the Medibank share price is trading slightly higher, up 0.52%.

More reading

• 4 reliable ASX dividend shares to buy for income
• 8 ASX 200 shares rated as ‘outperform’ by brokers

Motley Fool contributor Daniel Ewing 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 Chalice Mining Ltd (ASX: CHN) share price is higher today. That’s because the company announced it had acquired four more properties at one of its mining locations.

At the time of writing, shares in the miner were selling for $6.54, up 2.03%. By comparison, the S&P/ASX 200 Index (ASX: XJO) is 0.33% higher.

Let’s take a closer look at today’s announcement and how it might affect the Chalice share price.

Why the Chalice share price is up

In a statement to the ASX, Chalice Mining announced it was expanding the size of its 100%-owned Julimar Nickel-Copper-PGE Project in Western Australia with the purchase of four private properties in the area.

Totalling roughly 723 hectares in size, the properties cost the company $11.25 million in cash and just over 1 million fully paid ordinary shares. Chalice said the deal was not subject to “any material conditions precedent”.

Investors are responding positively to the news, judging by today’s Chalice share price rise.

The company has now acquired just over 1,600 hectares of private land at the southern end of its Julimar Project.

Julimar Mining Project

The Chalice share price shot up in November 2020, when the company announced “significant new results” out of the Julimar Project. Nickel, copper, and platinum group elements (PGE) were all discovered at the location.

The company is hoping today’s acquisitions should lead to even greater mineralisation discoveries.

According to the website Trading Economics, nickel is currently trading for US$16,318.75 a tonne, copper is US$4.18 a pound, while platinum is selling for US$1,203 per troy ounce. Respectively, these elements are down 1.42%, up 18.78%, and up 12.86% since the beginning of this year.

Both copper and platinum are tipped to rise going forward, as demand for green technology increases.

Chalice share price snapshot

Over the past 12 months, the Chalice share price has increased a whopping 431.7%. In fact, just in 2021, the company’s value has appreciated 52.1%. Today’s price is only slightly down from its recently achieved 52-week high of $6.66.

Chalice Mining has a market capitalisation of $2.2 billion.

More reading

• Why the Chalice Mining (ASX:CHN) share price has grown 51% in a month

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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Los Cerros Ltd (ASX: LCL) shares are flying high today after encouraging news from the company’s Quinchia Project. At the time of writing, the Los Cerros share price is trading 7.5% higher at 22 cents.

In an announcement prior to market open this morning, the company advised drill results have found high-grade gold deposits at its Tesorito South key target are significantly more abundant and widespread than previously estimated.

Tesorito South is part of the Qunichia Project’s Terorito Prospect. It is located in Columbia and 100% owned by Los Cerros. 

Let’s look closer at the gold miner’s news.

Los Cerros share price strikes gold

Today, the Los Cerros share price is responding well to the news that drill testing on the estimated edges of the company’s project has expanded its mineralised zone.

The three drill holes involved found greater amounts of high-grade gold than was expected.

As a result, the company will begin another series of step-out holes to define the boundaries of Tesorito South’s near-surface mineralisation. Step out holes allow mining companies to assess the endpoint of a mineralised zone.

The results have meant Los Cerros has remodelled the Tesorito Project’s gold envelope to be significantly larger than it was previously thought to be.

Drill hole results

The most southern of the three drill holes (TS-DH17) found gold in the first 232 metres, as was expected. It intercepted the zone of high-grade gold at 72 metres deep.

By finding larger amounts of high-grade gold shallower than expected, the result has expanded the project’s envelope of gold mineralisation over 1 gram per tonne further south.

Assay results from the most southerly hole included:

• 35 metres at 1.15g/t Au from surface including 52.3m at 2.10g/t Au from 72 metres.

The other two drill holes were placed on the northern boundary of the assumed gold mineralisation zone. One was further west (TS-DH20) than the other (TS-DH21).  

Both northern holes found significant widths of higher-grade gold than was expected. As a result, the project’s envelope of higher-grade mineralisation has been extended. It remains open to the northwest, north and northeast.

Assay results from the two northerly drill holes included:

• 228 metres at 0.86g/t Au from surface including 100 metres at 1.22g/t Au from 128 metres in TS-DH20.
• 274 metres at 0.82g/t Au from surface including 74 metres at 1.29g/t Au from 102 metres including 24.45 metres at 2.5g/t Au from 149.5 metres in TS-DH21.

Management commentary

Los Cerros managing director Jason Stirbinskis commented on the company’s findings at the Tesorito Project, saying:

The program of holes – TS-DH15, ’16, ‘17, ‘20, ‘21 and other more recent holes with results pending, were all intended to define the limits of Tesorito South porphyry mineralisation. However, all assay results thus far have reported significant widths of both lower and higher-grade gold and so the area of interest keeps getting bigger in the directions we’ve recently tested.

None of the reported holes were designed to test the deeper porphyry mineralisation discovered by hole TS-DH16 nor the Tesorito North porphyry mineralisation. A geological review is underway to optimise drill hole locations at both of these targets.

Los Cerros share price snapshot

Today’s news from Los Cerros has proven to be a spring in the step of the company’s share price, which has been performing well on the ASX this year.

Currently, the Los Cerros share price is up by 65% year to date. It’s also up a whopping 617% over the past 12 months.

Los Cerros has a market capitalisation of around $94 million, with approximately 471 million shares outstanding.

More reading

• Why the Los Cerros (ASX:LCL) share price is rocketing 20% 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 Worley Ltd (ASX: WOR) share price is seesawing this morning despite winning another contract award. The deal is the latest in a number of signings achieved over the past 2 months.

At the time of writing, the global engineering company’s shares are swapping hands for $10.76, down 0.09%. Worley shares were slightly in the green at market open before moving in negative territory.

Let’s take a closer look at what the company updated the ASX with.

Contract award

Worley shares are slipping slightly today after the company announced its latest news.

In today’s release, Worley advised it has been awarded an engineering and procurement services contract from Chevron USA for services at one of its deep-water production facilities situated in the Gulf of Mexico.

The deal will see Worley provide engineering and design for the “integration and subsea tieback of the Ballymore oil and gas field”. Worley noted that it is supporting both the subsea and topsides designs and will provide procurement services for topsides.

The company stated that topsides services and project management will be looked after by its United States Gulf Coast team.

Intecsea, a subsidiary of Worley, will undertake services for the subsea area of the project. Intecsea is a global leader in subsea systems, offshore pipelines, floating systems and overall field development. Lastly, Worley’s support team for the project will be run by its Global Integrated Delivery office in India.

Worley CEO, Chris Ashton, welcomed the new deal, saying:

As a global professional services company headquartered in Australia, we look forward to helping Chevron meet the world’s changing energy needs and continuing Worley’s longstanding global relationship with Chevron.

About the Worley share price

While the Worley share price has increased close to 50% over the past year, year-to-date performance is down 6%. Since the beginning of February, the company’s shares have moved sideways, despite several contracts being awarded.

Worley has a market capitalisation of about $5.6 billion, and a price-to-earnings (P/E) ratio of 71.80.

More reading

• ASX 200 drops, Santos entices CEO, Centuria acquires again
• Worley (ASX:WOR) share price edges lower despite contract award
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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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The Talga Group Ltd (ASX: TLG) share price is slipping this morning after news of the company’s electric vehicle anode (EVA) qualification plant. The up-and-coming plant will be located in Northern Sweden, supplying European battery and electric vehicle manufacturers with ultra-low emission graphite anodes.

Talga also owns three graphite mines and one cobalt mine in Sweden, and a processing facility in Germany. Its headquarters are in Perth. It states that its vertical integration provides it with a shorter, more secure supply chain and a local market.

The Talga share price is down 1%, trading at $1.43 at the time of writing.

Let’s take a closer look at the news announced by Talga this morning.

EVA purchase plans

Today, Talga shared that, as part of the development of its EVA plant, it is engaging with battery and electric vehicle manufactures. The company said these talks were to work towards purchase agreements for the plant’s planned output.

Talga also provided an update from the EVA plant. The company advised that designs for the plant had been finalised and engineering work was progressing well. It has now placed orders for the materials and equipment needed to build the plant.

The company stated the continuation of works was thanks in part to an equity raising held in December.

Talga’s flagship Talnode-C graphite anode product is currently being qualified in a range of lithium-ion battery applications. As a result, Talga needs to increase its production of commercial Talnode-C sample quantities, particularly for the electric vehicle market.

Therefore, the EVA plant is critical for the company’s progression into the electric vehicle supply chain.

Talga hopes to commence its EVA plant’s installation in the fourth quarter of 2021.

As well as anode production, the EVA plant will house a battery materials laboratory which will include battery cell making facilities for cycle testing and quality control.

It will employ around 10 people, and recruitment has already begun.

Commentary from management

Talga managing director Mark Thompson said the EVA plant was a key step in the company’s partnering and product qualification process.

Talga’s existing demonstration and pilot facilities have taken our flagship Talnode®-C product through a range of customer qualification stages.

The EVA plant will now provide the larger EV quality anode samples that our automotive battery customers require for their procurement processes and planned production schedules.

Talga share price snapshot

The ASX hasn’t been great for Talga in 2021. Currently, the Talga share price is down 21% year to date. Though, it is up an impressive 381% over the last 12 months.

The company has a market capitalisation of around $438 million, with approximately 303 million shares outstanding.

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Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned.

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

The post Why is the Talga (ASX:TLG) share price dipping today? appeared first on The Motley Fool Australia.

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