In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a decent gain. At the time of writing, the benchmark index is up 0.3% to 6,996.9 points.

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

BrainChip Holdings Ltd (ASX: BRN)

The BrainChip share price is up 19% to 63 cents. Investors have been fighting to get hold of the artificial intelligence (AI) technology company’s shares following the release of an update. According to the release, Taiwan Semiconductor Manufacturing Company has started volume manufacturing of BrainChip’s Akida AKD1000 neuromorphic processor chip for edge AI devices.

Dubber Corp Ltd (ASX: DUB)

The Dubber share price has risen 5% to $2.05. The catalyst for this was news that the call recording service provider has signed an agreement with video conferencing giant Zoom for its Unified Call Recording product. The company notes that the deal with Zoom provides businesses of all sizes with the ability to record calls for all users. After which, once the recordings are ingested by Dubber, businesses can enrich the content with AI delivering transcriptions, sentiment data, real-time search and more.

Galaxy Resources Limited (ASX: GXY)

The Galaxy share price has raced 5% higher to $3.42. This morning the lithium producer released an update on its Sal de Vida operation in Argentina. According to the release, the company has completed its feasibility study, with very positive technical and financial outcomes. The study confirms that Sal de Vida will be a globally competitive, low cost producer of battery grade lithium carbonate. As a result, the company will now move into the next phase with detailed engineering to commence on the plant and construction of the ponds commencing immediately.

Resolute Mining Limited (ASX: RSG)

The Resolute share price has jumped 14% to 53.5 cents. Investors have been buying the gold miner’s shares after the Ghanaian government restored the mining licence for the Bibiani Gold Mine. However, the government has stipulated that Resolute can no longer sell the asset to Chifeng Jilong Gold Mining. Resolute has agreed to do this and will now look at its options for the mine.

More reading

• ASX 200 up 0.6%: Zip rises, Resolute rockets, tech shares storm higher
• Here’s why the Resolute Mining (ASX:RSG) share price is surging 20% higher today
• Why the Dubber (ASX:DUB) share price is breaking out into record highs
• Why the BrainChip (ASX:BRN) share price is rocketing 27% higher today
• Why the Galaxy Resources (ASX:GXY) share price is on watch

James Mickleboro owns shares of Galaxy Resources Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Dubber. 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 DigitalX Ltd (ASX: DCC) share price is trading almost 20% higher today at 7.9 cents. In earlier trade, shares in the company were up by more than 27% after hitting an intraday high of 8.4 cents. DigitalX shares have also surged nearly 30% this week after hitting a low of 5.9 cents on Monday.

Let’s take a look at why the company is having such a stellar week. 

What’s fuelling the DigitalX share price?

Early yesterday, DigitalX provided shareholders with a monthly update as at the end of March 2021. The announcement highlighted the company’s funds under management and the value of its Bitcoin (CRYPTO: BTC) related assets.

DigitalX noted a record balance of Bitcoin and digital assets of $35.2 million as at 31 March. In addition, it highlighted a 30% growth in funds under management to $31.9 million.

The company also declared a 28.39% growth in its Bitcoin fund and 25% growth in its DigitalX fund for the month. Given the substantial growth in Bitcoin and digital assets, Digital X intends to provide the market with monthly updates.

About DigitalX 

DigitalX is a tech and investment company focused on blockchain consulting and digital funds management. The company’s consulting arm designs and develops blockchain technology applications for businesses. In addition, DigitalX also offers low-cost traditional asset management products for investors who want exposure to digital assets.

Despite going on an initial tear early in the year, the DigitalX share price is trading around 20% lower in 2021. Shares saw significant interest from investors in early February after the company reported record monthly inflows. In addition, DigitalX noted an increase in exposure to Bitcoin and highlighted plans to increase exposure to the wider digital asset market.

In early March, the DigitalX share price saw another jump after the company successfully raised $8.8 million in capital. According to the company, the funds raised will be used to grow its funds under management as well as for developing and implementing its Drawbridge RegTech product. 

More reading

• What’s driving the Bitcoin price higher?
• Will this Nasdaq IPO send the Bitcoin price back to record highs?
• ASX 200 Weekly Wrap: ASX sees 7,000 points once more
• With the Bitcoin price up overnight your crypto Tesla just got cheaper
• Bitcoin’s price is down 8% from February’s highs. Is it time to buy the dip?

Nikhil Gangaram has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Bitcoin. 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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Motley Fool CIO Scott Phillips joined ABC Nightlife to chat to Philip Clark about the challenges and opportunities of investing in a low-interest rate world.

In a wide-ranging chat, he and Betashares’ David Bassanese talked about shares, property — and, yes, Bitcoin — as well as taking calls from ABC listeners.

You can catch up on the ABC website, here, or download the episode as a podcast, here.

More reading

• The DigitalX (ASX:DCC) share price is up 30% this week
• This could be boosting the Kogan (ASX:KGN) share price today
• Top brokers name 3 ASX shares to buy today
• The Elixir Energy (ASX:EXR) share price is charging up today. Here’s why
• Why the St George Mining (ASX:SGQ) share price rocketed 60% on open

Motley Fool contributor Scott Phillips 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 Kogan.com Ltd (ASX: KGN) is having a top day today. Although the S&P/ASX 200 Index (ASX: XJO) is up 0.5% today, Kogan shares are doing one better with a 3.83% gain. That puts the Kogan share price at $13.55, its highest level in over a month. 

Kogan shares have been enduring something of a fall from grace over the past 6 months or so. This company last peaked back in October at an all-time high of $25.57. But it has been downhill ever since then. Between 20 October and 31 March, Kogan lost more than 52% of its value. Even on today’s pricing, the shares are still down more than 46% from those highs.

So what’s going so right for Kogan today?

A new partnership for Kogan shares

Well, one potential catalyst is a new partnership Kogan has entered into. According to a report from PRWeb, Codisto, a private sales channel integration company, has just inked an agreement with Kogan for use of its Channel Cloud Plus enterprise solution. Codisto is a software company that specialises in sales channel integration software for e-commerce platforms in particular. It is already used by other e-commerce platforms like Shopify Inc (NYSE: SHOP), Amazon.com Inc (NASDAQ: AMZN) and Walmart Inc (NYSE: WMT). Channel Cloud Plus aims to simplify the process for sellers to list and manage products on online channels. 

Reportedly, Kogan.com’s online marketplaces will be integrating with Costido’s product. This, the two companies hope, will result in new channel of sellers being opened up for Kogan. Here’s some of what Kogan’s Lazar Monin, director of marketplace, had to say on the deal:

At Kogan, we’re dedicated to providing our sellers with the tools they need to deliver exceptional service from sale to delivery… Partnering with Codisto and their Channel Cloud Plus solution makes it easier for sellers to launch and grow their sales with Kogan by taking the time and complexity out of multichannel management. It’s a win for sellers and a win for our customers which means it’s a win for Kogan.

It’s not immediately clear that this announcement is what is driving up the Kogan share price today. It was made back on Monday after all. But Kogan shares have indeed been on the rise since Monday. In fact, Kogan shares are now up more than 7% over the past week or so. So clearly investors think Kogan is doing something right. Or perhaps the market has woken up and decided that the $12 a share that Kogan hit back on 3 March was just too low. Either way, today has been a great day for Kogan shareholders.

More reading

• ASX 200 up 0.6%: Zip rises, Resolute rockets, tech shares storm higher
• AMP (ASX:AMP) share price hits new 52-week low
• 5 things to watch on the ASX 200 on Wednesday
• ASX 200 rises, Zip (ASX:Z1P) flies, bank ratings upgraded
• 2 outstanding ASX tech shares to buy

John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Amazon and Shopify and recommends the following options: long January 2022 $1920 calls on Amazon and short January 2022 $1940 calls on Amazon. The Motley Fool Australia owns shares of and has recommended Kogan.com ltd. 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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Many of Australia’s top brokers have been busy adjusting their financial models again, leading to the release of a large number of broker notes this week.

Three broker buy ratings that have caught my eye are summarised below. Here’s why brokers think these ASX shares are in the buy zone:

Jumbo Interactive Ltd (ASX: JIN)

According to a note out of Morgan Stanley, its analysts have retained their overweight rating and $15.20 price target on this lottery ticket seller’s shares. The broker notes that lottery jackpots have been strong during the second half, which bodes well for ticket sales on Jumbo’s platform. Outside this, the broker believes there is a big opportunity for its SaaS business from the migration to online lotteries over the long term. The Jumbo share price is trading at $13.75 on Wednesday.

REA Group Limited (ASX: REA)

Another note out of Morgan Stanley reveals that its analysts have retained their overweight rating and $175.00 price target on this property listings company’s shares. According to the note, the broker believes REA Group is well-placed to benefit from the booming housing market. So much so, it sees potential for an earnings super cycle next year. It notes that this is being driven by listings growth and additional inventory. The latter is being underpinned by people re-evaluating where they want to live following the pandemic. The REA Group share price is fetching $155.00 today.

Zip Co Ltd (ASX: Z1P)

Analysts at Citi have upgraded this buy now pay later provider’s shares to a buy rating with an $11.30 price target. According to the note, the broker was very pleased with Zip’s third quarter update. The highlight for Citi was its volume growth, which was underpinned by a better than expected performance by its US-based Quadpay business. The Zip share price is trading at $9.85 on Wednesday afternoon.

More reading

• Are brokers bullish on the Zip (ASX:Z1P) share price after quarterly results?
• ASX 200 up 0.6%: Zip rises, Resolute rockets, tech shares storm higher
• Could this help the Zip (ASX:Z1P) share price catch up to Afterpay?
• 2 excellent ASX shares that could be strong buys
• ASX 200 rises, Zip (ASX:Z1P) flies, bank ratings upgraded

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 and recommends Jumbo Interactive Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of ZIPCOLTD FPO. The Motley Fool Australia has recommended Jumbo Interactive Limited and REA 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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The Elixir Energy Limited (ASX: EXR) share price has powered up this morning after the company released an update regarding 3 operations.

The Elixir Energy share price gained 16% in early morning trade but has since retreated. At the time of writing its trading at 45 cents, a gain of 4.65%.

Let’s look closer at the company’s news today.

Why is the Elixir Energy share price lifting?

A new contract

First, the company shared an update from the exploration and appraisal program underway at its Nomgon IX Coal Bed Methane (CBM) Production Sharing Contract Project.

The CBM is based in Mongolia and owned entirely by Elixir Energy.

Elixir advised the first well in CBM’s 2021 drilling program, Yangir-2, has been finished. It found a highly fractured depocentre hosting gaseous rocks.

The company said the results were encouraging for permeability and gas content but have made for “more complex drilling operations”. The desorbed gas was found to contain 99% natural gas, with no additional processing needed before going to market.

Two more drilling rigs are to be begin drilling wells later this month, targeting both new and previously recorded depocentres.

Elixir Energy’s largest seismic program

The company also announced that it has just started its largest seismic program to date. A seismic survey is a non-invasive way to gather information about the location and characteristics of geological structures beneath the earth’s surface.

Elixir’s program comprises 220km of 2D seismic. Multiple depocenters are to be targeted, made up of both new seismic work and follow-ons to existing seismic work.

COVID-19 update

Finally, the company provided an update on the impact the COVID-19 situation in Mongolia is having on its business.

Mongolia is currently experiencing government mandated lockdowns and border controls.

Elixir Energy stated it was working closely with the government to work within the rules with minimal affects to its field program.

The company has vaccinated its staff and contractors and implemented isolation procedures. It believes it’s now set up for maximum resilience against any issues that may arise from the ongoing pandemic.

What did management say?

Elixir Energy managing director Neil Young commented on the company’s updates, saying:

Elixir’s ‘rinse and repeat’ model for the repeatable and low cost discovery and appraisal of gas on the Mongolian/Chinese border continues to successfully roll out in 2021.

Especially pleasing recent news is the sales gas specification (and strong gas content) from Yangir-2 and the ability of our broad team to work through the current COVID related issues.

Elixir Energy share price snapshot

Elixir Energy is having a good year on the ASX, with today’s news just the latest boost to its share price.

Currently, the energy company’s share price is up 225% year to date. It’s also up a whopping 2,175% over the last 12 months.

Elixir Energy has a market capitalisation of around $348 million, with approximately 811 million shares outstanding.

More reading

• Why the St George Mining (ASX:SGQ) share price rocketed 60% on open
• Are brokers bullish on the Zip (ASX:Z1P) share price after quarterly results?
• ASX 200 up 0.6%: Zip rises, Resolute rockets, tech shares storm higher
• A flat market, earnings season to start in the US, and what’s the story with growth and value? Motley Fool CIO Scott Phillips on SBS
• What’s going on with the Galilee Energy (ASX:GLL) share price?

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 The Elixir Energy (ASX:EXR) share price is charging up today. Here’s why appeared first on The Motley Fool Australia.

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The St George Mining Ltd (ASX: SGQ) share price is off to the races today.

Shares of the ASX resource explorer were up almost 60% at market open. At the time of writing the share price is up 21.62%, trading at 9 cents each.

We look at the company’s latest announcement.

What did St George report?

The St George Mining share price is soaring after the company reported it had discovered new high-grade nickel-copper sulphides deposits. The discovery was made at its Mt Alexander Project in the north-eastern Goldfields of Western Australia.

Additionally, the company said the results from 3 separate electromagnetic (EM) conductors were interpreted to have a massive sulphide source.

One of the drill holes (MAD199) was drilled to a downhole depth of 378.8 metres. It returned a “very strong conductivity” of 19,320 Siemens.  St George said it also intersected a 10.96-metre interval of continuous nickel-copper sulphides from 333.6 metres downhole, “confirming the conductor as high-grade nickel-copper sulphides”.

According to the release, the results support the project’s potential to deliver significant additional mineralisation in the area.

Management commentary:

Commenting on the results, St George Mining’s executive chairman John Prineas said:

At more than 300 metres below surface, this is the deepest massive nickel-copper sulphides identified in the Cathedrals Belt and confirms our interpretation that the large intrusive mineral system at the Cathedrals Belt can host significant mineralisation at depth.

Importantly, there are multiple other EM conductors proximal to the MAD199 intersection – both up-dip and down-dip – which have yet to be tested. The result in MAD199 gives us great confidence that these additional conductors are also mineralisation and that we may have discovered a very fertile section of the Cathedrals intrusive unit.

Drilling and EM surveys continue around the clock.

St George Mining share price snapshot

St George Mining shares are down 11% over the past full year, compared to a gain of 31% on the All Ordinaries Index (ASX: XAO).

Despite today’s boost, the St George Mining share price remains down 11% year-to-date.

More reading

• The Elixir Energy (ASX:EXR) share price is charging up today. Here’s why
• Are brokers bullish on the Zip (ASX:Z1P) share price after quarterly results?
• ASX 200 up 0.6%: Zip rises, Resolute rockets, tech shares storm higher
• A flat market, earnings season to start in the US, and what’s the story with growth and value? Motley Fool CIO Scott Phillips on SBS
• What’s going on with the Galilee Energy (ASX:GLL) share price?

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

The post Why the St George Mining (ASX:SGQ) share price rocketed 60% on open appeared first on The Motley Fool Australia.

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Eyes have turned to the Zip Co Ltd (ASX: Z1P) share price which surged 16.95% on Tuesday after announcing a solid set of quarterly results. The results not only highlight the company’s continued momentum across key growth regions but also shed light on its plans for greater international exposure. 

While it might have been off to the races with the Zip share price yesterday, what are big brokers thinking? 

Citi rates the Zip share price as a buy 

Citi was the most bullish broker today, upgrading its rating from neutral to buy. The broker said that the key highlight from the third-quarter update was stronger than expected volume growth. 

Zip’s strong quarterly result was driven by QuadPay’s 234% increase in transaction volume. This equated to $762 million, which was 31% higher than Citi’s forecast. With QuadPay’s performance exceeding expectations, the broker upgraded its rating from neutral to buy. 

Despite the upgrade, Citi was reserved with its share price target, lowering it from $11.35 to $11.30. 

Morgans cautiously optimistic 

Morgans ‘add’ rating was unchanged and its target price was lowered from $12.10 to $10.92.

The broker highlighted another strong quarterly performance across all key metrics that increased 10% to 20% on the second quarter. QuadPay was again the standout for the business. Driving a quarter-on-quarter growth of 16%, 7%, and 19% for revenue, transaction volume, and customers. 

Morgans reduced earnings per share forecasts for FY21 and FY22 by 2% and 4% on minor adjustments to sales and profit margin forecasts.

UBS is always bearish 

UBS has been calling ASX buy now pay later (BNPL) shares as a sell since 2019. Today, the broker reiterated its sell rating while nudging its target price from $6.40 to $6.50. 

UBS says that the BNPL sector has benefited from economic stimulus and is wary of its short-term outlook as policy measures are wound back.

Despite QuadPay transaction growth coming out slightly ahead of forecasts, UBS continues to believe that investors should get out of Zip shares. 

More reading

• ASX 200 up 0.6%: Zip rises, Resolute rockets, tech shares storm higher
• Could this help the Zip (ASX:Z1P) share price catch up to Afterpay?
• ASX 200 rises, Zip (ASX:Z1P) flies, bank ratings upgraded
• What’s lifting the Afterpay (ASX:APT) share price today?
• Afterpay and Zip were among the most traded ASX shares last week

Kerry Sun has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of ZIPCOLTD FPO. The Motley Fool Australia 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 Wednesday the S&P/ASX 200 Index (ASX: XJO) is on form and has broken through the 7,000 points mark. The benchmark index is currently up 0.6% to 7,019.4 points.

Here’s what is happening on the market today:

Brokers love Zip update

The third quarter update from Zip Co Ltd (ASX: Z1P) on Tuesday has gone down well with brokers today. One of the most positive brokers was Citi. This morning its analysts upgraded the buy now pay later provider’s shares to a buy rating with a price target of $11.30. Elsewhere, Morgans has an add rating and $10.92 price target and Ord Minnett has an accumulate rating and $11.50 price target. This compares to the current Zip share price of $9.88.

Resolute share price rockets

The Resolute Mining Limited (ASX: RSG) share price is rocketing higher today after revealing that the Ghanaian government has restored the mining licence for the Bibiani Gold Mine. However, the government has only agreed to do this if Resolute cancels the sale of the operation to Chifeng Jilong Gold Mining. Resolute has agreed to do this and will now look at its options for the mine.

Tech shares storm higher

Playing a key role in the market’s positive form today has been the tech sector. Tech shares including Afterpay Ltd (ASX: APT) and WiseTech Global Ltd (ASX: WTC) are storming higher, driving the S&P/ASX All Technology Index (ASX: XTX) a sizeable 1.8% higher. This has been driven largely by a positive night of trade on the Nasdaq index. The tech-heavy index outperformed overnight, recording a solid 1% gain.

Best and worst ASX 200 performers

The best performer on the ASX 200 by some distance has been the Resolute share price with a 15% gain following its update. The worst performer has been the Credit Corp Group Limited (ASX: CCP) share price with a decline of almost 3% on the back of no news.

More reading

• Here’s why the Resolute Mining (ASX:RSG) share price is surging 20% higher today
• Could this help the Zip (ASX:Z1P) share price catch up to Afterpay?
• AMP (ASX:AMP) share price hits new 52-week low
• 5 things to watch on the ASX 200 on Wednesday
• ASX 200 rises, Zip (ASX:Z1P) flies, bank ratings upgraded

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

The post ASX 200 up 0.6%: Zip rises, Resolute rockets, tech shares storm higher appeared first on The Motley Fool Australia.

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Motley Fool Australia’s Chief Investment Officer Scott Phillips joined SBS’ Ricardo Goncalves to discuss the ‘going nowhere’ market, the start of US earnings season (and its potential impact on our companies) as well as the ‘rotation’ between growth and value stocks… and where the opportunities might be.

More reading

• ASX 200 up 0.6%: Zip rises, Resolute rockets, tech shares storm higher
• What’s going on with the Galilee Energy (ASX:GLL) share price?
• Why the Wisr (ASX:WZR) share price is on the move
• Here’s why the Resolute Mining (ASX:RSG) share price is surging 20% higher today
• Why is the Aerometrex (ASX:AMX) share price soaring 15% today?

Scott Phillips has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of ZIPCOLTD FPO. The Motley Fool Australia owns shares of Woolworths Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post A flat market, earnings season to start in the US, and what’s the story with growth and value? Motley Fool CIO Scott Phillips on SBS appeared first on The Motley Fool Australia.

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