The Pursuit Minerals Ltd (ASX: PUR) share price rose by as much as 5% in intraday trade before closing up 2.5% at 8.1 cents per share. Over the past month, the Pursuit share price is up more than 15%.

We take a look at recent news from the miner, including the completion of an $8 million placement and the expedition of work in its Warrior Exploration nickel mine, to see what might be impacting its share price performance.

Pursuit is a mineral exploration and project development company with a strong focus in Europe. It explores projects including the Koitelainen project and Karhujupukka project located in Finland, Central Sweden projects and the Airijoki project located in Sweden.

Pursuit’s $8 million placement

Pursuit confirmed on 9 April that it had completed the placement of 119,565,217 shares to CPS Capital. The placement shares were issued with an issue price of $0.069 per share, raising $8,250,000 (before costs).

Pursuit says the placement will enable the Company to advance its projects in Warrior, Combatant and Gladiator Projects, together with providing working capital and funding for potential new opportunities.

Pursuit CEO, Mark Freeman, said “the company is delighted with the strong support for the placement. This raising will provide critical
funding to conduct our inaugural drilling.”

Pursuit’s expedited MLEM and sampling

Pursuit also announced on 6 April that the company is commencing Moving-loop ground EM (“MLEM”) surveys to track anomalys (potential mineral deposits) that have been found in its Wubin and Wubin South Project Areas.

Pursuit also announced that its soil sampling program was completed over what it calls the “highly conductive” Phil’s Hill Prospect, on the Calingiri East tenement. This has been undertaken along with follow-up soil sampling over all lines, with MLEM line results expected within 4 weeks.

The company is drilling for high-grade, platinum rich nickel and copper in the region.

Freeman noted the progress Pursuit have made in progressing from aerial surveys this month.

The company is extremely pleased with the progress of the Phil’s Hill Prospect, with the company continuing to aggressively fast track its activity. Soil sampling results are in progress over the interpreted EM targets and we expect results back from the laboratory within the next 3-4 weeks.

The MLEM Surveys at Wubin and Wubin South should provide additional drilling targets for our upcoming inaugural drilling program. We are currently liaising with drilling contractors and expect to be able to announce commencement of drilling within the next 2-3 months once all government and Aboriginal Cultural Heritage approvals are in place.

Pursuit share price snapshot

The Pursuit share price has returned 2,076% over the past 12 months. It’s down 3% this week and started April badly, but has risen by 15.71% in the past month. It has a market capitalisation of $73 million.

More reading

• Why the Pursuit (ASX:PUR) share price is plummeting today
• Here’s why the Pursuit Minerals (ASX:PUR) share price is frozen
• Pursuit Minerals (ASX:PUR) share price rockets 22% higher today. Here’s why

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.

The post What’s been moving the Pursuit (ASX:PUR) share price this month? appeared first on The Motley Fool Australia.

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Maybe it’s the political climate.

Maybe it’s a government that is trying to fight on fewer fronts.

I like to think it’s because they’ve seen the light.

In any case, assuming it’s true, the news in today’s papers is good for every single working Australian.

That news, if you haven’t caught up yet, is that the Federal Government is apparently dropping its potential opposition to increasing the Superannuation Guarantee (SG) levy (that is, the contribution our employers make to our Super accounts).

The SG is currently 9.5% of our take-home pay, a level we reached back in 2015.

The current legislation has it going to 10% from July 1 this year, then increasing by 0.5% per year, between now and 2025.

But some government backbenchers had been agitating for the increase to be cancelled or delayed.

They’d also been arguing for us to be allowed to raid our retirement (sorry, ‘utilise our super balances’) for things like housing.

Because you know what house prices need? More stimulus from more money chasing the same housing stock…

But I digress.

Super shouldn’t be — isn’t — a lump sum to be pilfered every time someone has a brilliant idea.

It’s not there to pay for housing.

It’s not there to replace the social safety net.

It’s not there for infrastructure building.

Say it with me: Super is for retirement.

Assuming the reports in today’s media are true, and the government doesn’t lose its nerve in the meantime, the SG will finally increase to 10% of salary.

And, hopefully, continue on from there, to 12%, without delay.

Why is that important?

Because that’s the level that most people agree is (roughly) required to ensure a comfortable retirement.

Yes, there’s an argument about what standard of living we should assume, as well as what contributions are made, and what earnings rate we should assume on those retirement savings.

But most people agree that 12% is a pretty decent level.

It allows lower income workers to amass a decent nest egg.

It allows people who take career breaks (think: caring for kids or parents) to do the same.

Of course any blanket rule is imperfect for a dozen reasons.

But it seems, to me at least, that 12% is a pretty good point at which to peg our Superannuation system.

For retirees. 

And for the federal budget, which otherwise needs to carry the can on supporting retirees.

Now, I should say that I’d make other changes, too.

Super shouldn’t just be a tax minimisation scheme.

It shouldn’t be able to be splurged, in retirement, before falling back on the pension.

And it shouldn’t unduly undermine the tax system, thanks to its 0% tax rate on earnings — no matter how high — in pension phase.

Those are problems to be addressed.

But they shouldn’t be addressed by limiting contributions, especially for lower- and middle-income earners who aren’t the ones actually causing those problems.

And, thankfully, it seems they won’t be.

At least not this time around.

We’ll see whether that’s what happens.

And, by rights, hopefully we won’t be back here again in 12 months’ time.

(I wouldn’t bet on it, but a bloke can hope, right?)

For now, I’m chalking it up as, as my father would say ‘one for the good guys’.

An acceptance that Super matters and that, as a cog in our financial system, it’s pretty much world’s-best, and something we should celebrate, rather than dismantle.

We’ll keep an eye on it, though. 

Just in case.

And we’ll keep campaigning for the steady rise from 9.5% now to 12% by 2025.

Thank you to those of you who shared our message.

We all made our voices heard!

We’ll keep fighting, too.

And our message will be simple:

— Australians deserve a 12% Superannuation Guarantee

— Super is for retirement, not a piggy bank to be raided whenever special interests want to

In other words, #HandsOffSuper

Fool on!

More reading

• 2 ASX dividend shares with massive yields over 8% today
• Why is the EMvision (ASX:EMV) share price surging 12% this week?
• Top brokers name 3 ASX small cap shares to buy
• Why these 3 ASX 200 gold shares are racing higher today
• What happened with the Betmakers (ASX:BET) share price this week?

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Finding an ASX dividend share offering a yield of 4% or more today is not too difficult. You can look to Telstra Corporation Ltd (ASX: TLS), JB Hi-Fi Limited (ASX: JBH) or Super Retail Group Ltd (ASX: SUL) for that kind of dividend.

But an 8% yield or higher? That is a far rarer creature. Often when an ASX share gets priced with a dividend of more than 8%, it can be a cause of concern. After all, most investors wouldn’t leave a yield like that on the vine without good cause. But the following 2 ASX dividend shares indeed offer a yield of that magnitude. So let’s dig into what’s on offer here.

2 ASX dividend shares with yields of 8% today

Fortescue Metals Group Limited (ASX: FMG)

After an incredible 2020 which saw the Fortescue share price run-up more than 100%, 2021 has been a bit of a disappointment for this ASX mining giant. Since the start of the year, Fortescue shares have lost around 16% of their value. But that loss has pushed the trailing dividend yield on Fortescue shares to new heights. It is currently standing at 11.88%, or a whopping 16.97% grossed-up.

While that gigantic number sinks in, let’s remember that Fortescue’s last 2 dividends came in at $1.47 per share (paid out on 24 March) and $1 per share (paid out on 2 October 2020) respectively. That was a gargantuan increase on the previous two payouts of 76 cents (April 2020) and 24 cents (October 2019).

The massive increase in dividends has been funded by sky-high iron ore prices, which even today are sitting above US$170 a tonne. As an iron ore miner, Fortescue might only be able to keep the floodgates open as long as the iron price holds up. So it will be interesting to see where Fortescue’s 2021 final dividend lands later this year.

AGL Energy Limited (ASX: AGL)

AGL has been one of the ASX’s worst-performing blue chips over the past 5 or so years. Back in 2017, AGL shares were trading as high as $27.70 each. Today, AGL is currently sitting at $9.23, 66.7% off of those highs, after falling to a new 16-year low of $9.15 earlier today. Ouch. Investors have evidently not reacted well to AGL’s recently announced plans to separate its electricity generation and retailing businesses. 

However, that share price fall has also pushed AGL’s trailing dividend yield to a substantial 8.88%. Dividend investors might be comforted that AGL last year committed to paying out 100% of its earnings as dividends until FY2023. If the company keeps this commitment, it should continue to ensure a robust yield going forward. But with AGL’s substantial writedowns last year, and ongoing uncertainly over the economics of the Australian electricity market, it’s no surprise investors don’t seem to be in much of a hurry with this one. 

More reading

• The Monadelphous (ASX:MND) share price surges as Rio Tinto (ASX:RIO) overhang lifts
• Why the Tilt Renewables (ASX:TLT) share price is in focus
• Top brokers name 3 ASX shares to sell today
• Origin (ASX:ORG) share price edges higher after hydrogen update
• Why the Fortescue (ASX:FMG) share price is slipping today

Motley Fool contributor Sebastian Bowen owns shares of Telstra Limited. The Motley Fool Australia owns shares of and has recommended Super Retail Group Limited and Telstra 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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EMvision Medical Devices Ltd (ASX: EMV) shares are rising today, adding to significant gains notched up this week. At the time of writing, the EMvision share price is trading 0.32% higher to $3.09. This puts the company’s gains this week at 11.96%.

EMvision is focused on the commercialisation of a portable medical device for stroke diagnosis and monitoring as well as other medical imaging needs.

It’s currently involved in the research and development of this medical imaging and diagnostic technology, which was previously licensed and subsequently acquired from Uniquest.

EMvision in the news this month

The only market update that EMvision has released this month was regarding the purchase of 17,200 shares at the value of $49,534 by company director Ronald Weinberger. 

That took place yesterday, but EMvision was also active in March through its presentation at the ASX Small and Mid-Cap Conference. The company presented plans for its portable brain scanner technology, which it’s aiming to commercialise for use in future road/air ambulance models.

EMvision is currently in partnership with researchers at RMIT University and fellow Australian company Micro-X Ltd (ASX: MX1) to produce two prototype CT scanners, weighing 30kg to 100kg. A regular CT scanner weighs three tonnes. 

More reading

• 2 ASX dividend shares with massive yields over 8% today
• Top brokers name 3 ASX small cap shares to buy
• Why these 3 ASX 200 gold shares are racing higher today
• What happened with the Betmakers (ASX:BET) share price this week?
• Why is the Brainchip (ASX:BRN) share price jumping today?

Lucas Radbourne-Pugh has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of EMvision Medical Devices Limited. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post Why is the EMvision (ASX:EMV) share price surging 12% this week? appeared first on The Motley Fool Australia.

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As well as covering large caps like Afterpay Ltd (ASX: APT) and Telstra Corporation Ltd (ASX: TLS), many brokers also cover smaller companies.

In light of this, I thought I would scour through a range of recent notes to see which small cap ASX shares are in favour with brokers at present.

Three that have been given buy ratings are listed below. Here’s why brokers like them:

Immutep Ltd (ASX: IMM)

According to a note out of Bell Potter, its analysts have a speculative buy rating and 85 cents price target on this biotechnology company’s shares. The broker notes that Immutep has recently been granted Fast Track status by the US FDA for its efti product candidate. This relates to a trial for first line recurrent or metastatic head and neck squamous cell carcinoma (HNSCC). The broker has increased the probability of success for the treatment in response to this and envisages licensing deals in 2023 if all goes to plan. The Immutep share price is fetching 44.5 cents this afternoon.

Silk Laser Australia Ltd (ASX: SLA)

Analysts at Ord Minnett currently have a buy rating and $5.06 price target on this laser, skin care, and cosmetic injections company’s shares. According to the note, the broker was very happy with Silk Laser’s performance during the first half. It notes that demand was so strong that the company upgraded its earnings guidance. Positively, Ord Minnett appears confident that Silk can easily achieve the top end of its new guidance range. The Silk Laser share price is trading at $4.50 on Friday.

Telix Pharmaceuticals Ltd (ASX: TLX)

A note out of Wilsons reveals that its analysts have an overweight rating and $5.40 price target on this clinical-stage biopharmaceutical company’s shares. According to the note, the broker was pleased to see Novartis report positive results from a trial of Lu-PSMA-617 for prostate cancer. It believes this development is a big positive for Telix, which has a similar therapy – TLX591-CDx. Its ProstACT trial starts soon and will test TLX591 as a second line therapy. The Telix share price is fetching $3.94 on Friday afternoon.

More reading

• Why the Telix (ASX:TLX) share price is storming 5% higher
• Why Creso, EML, Immutep, & Western Areas shares are storming higher
• Here’s why the Immutep (ASX:IMM) share price is rocketing 10% higher
• Here’s why the Immutep (ASX:IMM) share price is climbing today
• Why Immutep, Inghams, REA Group, & Synlait shares are sinking

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Telstra Limited. The Motley Fool Australia owns shares of AFTERPAY T FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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S&P/ASX 200 Index (ASX: XJO) gold shares are in the spotlight today.

Three of the top ASX 200 gold shares are all racing higher in late afternoon trading.

The Newcrest Mining Ltd (ASX: NCM) share price is up 3.7% to $27.69 per share.

The Northern Star Resources Ltd (ASX: NST) share price has gained 2.9% in intraday trading, currently at $11.21 per share.

And the Evolution Mining Ltd (ASX: EVN) share price leads the golden charge, with Evolution shares up 3.9% to %4.59 per share.

What’s supporting ASX 200 gold shares?

ASX 200 gold shares are broadly enjoying a lift in the gold price.

Analysts are crediting the yellow metal’s rise with a fall in the US dollar and declining US bond yields. Adding to that, growing angst over possible rising inflation may be spurring investors to seek out the classic inflation hedge.

An ounce of gold is currently worth US$1,763.48 (AU$2,281.35). That’s the highest level since 25 February.

Now, that’s well below the record high levels of just over US$2,065 per ounce, reached on 6 August last year. But it’s still up 4.6% since 31 March.

In that same time, Evolution Mining shares have gained 10.8%, while the Newcrest share price is up 13.5% since 31 March, and the Northern Star share price has soared 17.8%.

As my Foolish colleague, James Mickleboro, pointed out earlier today, Northern Star and Newscrest may be enjoying an extra boost thanks to a note from Goldman Sachs. The broker has upgraded both ASX 200 gold shares from neutral to a buy.

Why are the miners’ shares outpacing the price gains of gold?

If you look at the share price gains above again, you’ll see that the ASX 200 gold miners have seen their shares increase by more than double the gains in the gold price. In the case of Northern Star Resources, shares are up 286% the price of gold since 31 March.

Now that won’t always be the case. Other factors certainly impact on gold miners’ share prices. These include safety records, weather, drilling results that impact their gold estimates, and their costs to dig the yellow metal from the ground and bring it to market… among others.

But the price of the precious metal they dig from the ground does tend to have an outsized impact on their share prices.

You may have heard it said that gold shares are leveraged to the price of gold.

That’s because a gold miner’s costs are mostly fixed, regardless of whether they’re receiving $1,000 per ounce for their product or $2,000. So when the price does rise, as it’s done over the past 2 weeks, almost all of that goes straight to the miner’s bottom line.

And to a rising share price.

Do these miners pay dividends too?

Although many investors buy shares in gold miners hoping for some big share price gains, all 3 of these ASX 200 gold shares pay dividends as well.

Newcrest Mining has a current market cap of $22.7 billion and trades on a price to earnings (P/E) ratio of 17.6 times. Newcrest pays an annual dividend yield of 1.58%.

Northern Star has a market cap of $13.0 billion and trades on a P/E ratio of 26.2 times. Northern Star pays a dividend yield of 1.70%.

The leading dividend payer among the 3 ASX 200 gold shares is Evolution Mining. Evolution has a market cap of $7.8 billion and trade on a P/E ratio of 20.5 times. Evolution pays an annual dividend yield of 3.49%.

More reading

• The Monadelphous (ASX:MND) share price surges as Rio Tinto (ASX:RIO) overhang lifts
• Why you should buy these 2 defensive ASX shares today
• Why Eagers Auto, Mayne Pharma, Monadelphous, & Newcrest are pushing higher
• Eagers Automotive (ASX:APE) share price edges higher on trading update
• ASX 200 down 0.2%: Origin sinks on earnings downgrade, gold miners charge higher

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 Betmakers Technology Group Ltd (ASX: BET) has been an interesting performer on the ASX this week. This ASX share has drawn a lot of attention over the past month, largely thanks to the Betmakers share price appreciating 25% since mid-March.

We have seen significant volatility in Betmakers shares just this week, with the company hitting a new 52-week (and all-time) high of $1.28 yesterday and a low of $1.12 a share on Tuesday. That’s more than a 12% difference in just a couple of days, enough to give anyone an ASX whiplash (Mickey Rourke style).

But any long-term investor probably doesn’t mind too much. Betmakers shares are up almost 75% year to date, and up a staggering 577% over the past year. Talk about a winning hand!

So what’s been going on with the Betmakers share price this week?

Why is the Betmakers share price at all-time highs?

There hasn’t actually been any major news or developments out of Betmakers Technology this week that might easily explain its rather erratic share price movements. However, the Betmakers share price has been enjoying a couple of tailwinds for a few weeks now.

The first was its 22 March inclusion into the All Ordinaries Index (ASX: XAO). When an ASX share joins a major index like the All Ords, it usually gives the company something of a short-term boost. That’s because many investors, including international ones, use these indices as hunting grounds for their next investment. Thus, if a company joins, it usually increases the said company’s profile. It also means that any index funds that track the index in question have to buy into the company as well. 

Secondly, Betmakers gave an investor update at the end of last month that was well-received by investors. This update covered the 6 months to 31 December 2020. The company reported that revenues grew by an impressive 67% over the period, and it expects growth of a further 25% for the quarter ending 31 March 2021. 

The Betmakers share price responded very positively to this news and has been rising ever since, despite some minor pullbacks like what we saw on Tuesday.

At the time of writing, the Betmakers Technology share price is sitting at $1.23 after rising 3.8% today so far. At this pricing, Betmakers has a market capitalisation of $946.2 million and a trailing dividend yield of 2.87%.

More reading

• Why the Viva Leisure (ASX:VVA) share price is one to watch
• Why the Wisr (ASX:WZR) share price is on the move
• ASX 200 Weekly Wrap: ASX sees 7,000 points once more
• Why the Fatfish (ASX:FFG) share price is soaring today
• What’s happening with the Musgrave Minerals (ASX:MGV) share price?

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 Betmakers Technology Group Ltd. The Motley Fool Australia has recommended Betmakers Technology Group Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post What happened with the Betmakers (ASX:BET) share price this week? appeared first on The Motley Fool Australia.

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The Brainchip Holdings Ltd (ASX: BRN) share price is rebounding today from its massive slump yesterday, where it lost nearly 10%.

The Brainchip share price is up 5.6% to 60.5 cents per share at the time of writing.

Brainchip is focused on the development of software and hardware-accelerated solutions for advanced artificial intelligence (AI) and machine learning applications.

Brainchip’s advanced artificial intelligence

These advanced artificial intelligence solutions are called neuromorphic computing. Neuromorphic computing is a branch of artificial intelligence (AI) that simulates the functionality of the human neuron. Essentially, Brainchip is trying to replicate the way the human brain learns and relates information in a computer chip.

The company has developed a revolutionary spiking neural network (SNN) technology, a type of neuromorphic computing that learns autonomously, evolves and associates information just like the human brain.

Brainchip’s primary product is its Akida Neuromorphic Processor Unit, which is a hardware product.

Brainchip’s Neuromorphic Processor starts production

The company released huge investor news two days ago when it confirmed that it has begun volume manufacturing of its aforementioned Akida AKD1000 neuromorphic processor chip for edge AI devices.

‘Edge’ in AI means that the AI program runs on the device itself and not on a cloud-based server.

BrainChip CEO Peter van der Made welcomed the news.

I am grateful to our engineering team, who worked hard over the past eight months to release the Akida technology for volume production, and to our EAP customers that have helped lead us to market readiness.

This move to manufacturing is a major milestone for BrainChip and for the industry at large as the first realistic opportunity to bring AI processing capability to edge devices for learning, enabling personalization of products without the need for retraining.

Brainchip share price snapshot

Brainchip investors also liked the news and sent its share price rocketing 19% that day, before a few appeared to immediately sell their interests the next day, culminating in a 9% drop.

Overall, the Brainchip share price has gained 9% this week, 6% the past month, 37% in 2021 so far and 1,307% over the past 12 months.

More reading

• Why BrainChip, Regis Resources, Whitehaven, & Zip shares are tumbling lower
• Why BrainChip, Dubber, Galaxy, & Resolute shares are charging higher
• Why the BrainChip (ASX:BRN) share price is rocketing 27% higher today
• Airtasker and Zip were among the most traded ASX shares last week
• Why BrainChip, Crown, Qantas, & Quickstep shares are tumbling lower

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.

The post Why is the Brainchip (ASX:BRN) share price jumping today? appeared first on The Motley Fool Australia.

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The Strike Energy Ltd (ASX: STX) share price has come out of a trading halt today following the company’s successful placement. While Strike is pleased with the latest capital raising efforts, its shares have plummeted 9.33% to 34 cents.

Let’s take a closer look and see what Strike updated the ASX with.

Why is the Strike share price in negative territory?

A major catalyst for Strike shares sinking could be investor concerns about the impending dilution of shares.

According to its release, Strike advised it has received binding commitments from an array of institutions to raise $75 million. The strongly supported placement primarily came from local and international institutions, as well as other professional and sophisticated investors.

The placement will see 250 million new ordinary shares created at an issue price of 30 cents apiece. Strike will use its existing placement capacity under listing rule 7.1. This allows up to 15% of its shares to be issued without shareholder approval. The new shares will rank equally with Strike’s existing ordinary shares.

Strike recently announced a share purchase plan (SSP) to raise up to $5 million from eligible shareholders. The issue price was listed as the same offered in the placement.

Together, the company is seeking to raise $80 million (before transaction costs) to fund its transformation strategy. In addition, Strike is also allocating $10 million of its existing cash, further boosting funding reserves.

The proceeds will be used to delivered a number of strategic objectives, that include:

• project construction of Phase 1 of the Greater Erregulla project at West Erregulla
• gas resource addition in the Erregulla region via the 2D major seismic campaign and drilling of South Erregulla
• geothermal testing for the proposed Mid-West Geothermal pilot
• progressing the pre-FID milestones for the Project Haber proposed fertiliser development
• general working capital and corporate purposes.

Both the placement and the SPP’s new shares are expected to be allotted on Friday 23 April 2021.

Management commentary

Strike managing director Stuart Nicholls commented:

This highly successful capital raise, that attracted exceptionally strong demand, is an acknowledgment of the unique investment opportunity that is Strike as the company commences its transition to a fully integrated energy, renewable power and fertiliser company.

This raising marks the first time in 18-months since the discovery of West Erregulla that the Company has sort to raise capital from the equity markets. It also comes at a more than 30% premium to the last raise, which indicates the speed and quality of project delivery by the Company in the intervening period.

About the Strike share price

Over the past 12 months, the Strike share price has jumped more than 180%, and is up 30% year-to-date. The company’s shares recently reached an all-time high of 39.5 cents before being hit hard today.

Based on valuation grounds, Strike commands a market capitalisation of roughly $645.8 million, with 1.7 billion shares on issue.

More reading

• Why Mineral Resources, Origin, Strike, Whitehaven shares are sinking
• Strike Energy (ASX:STX) goes into trading halt for $80m cap raise
• Strike Energy (ASX:STX) share price rising on more WA gas discoveries
• Why the Strike Energy (ASX:STX) share price powered up today
• Why the Strike Energy (ASX:STX) share price opened 3% higher today

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

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The National Australia Bank Ltd (ASX: NAB) is seeing clear and widespread signs of businesses recovering from the coronavirus pandemic that drove last year’s recession.

NAB’s CEO Ross McEwan shared the news in his opening statement to the House of Representatives’ Standing Committee on Economics this morning.

Business owners and investors can now be reassured that the CEO of Australia’s largest business bank believes the country’s recovery is even better than he expected it to be.

ASX investors can rejoice, NAB affirms Australia’s recovery

McEwan told the House of Representatives that businesses will be the most important factor in Australia’s recovery.

He said NAB is currently approving more business loans that the banking giant was before the pandemic. Also, the bank’s latest monthly business survey has shown business conditions are at a record high.

“I see this when I visit customers around the country. They are more confident, and they are looking to expand. Others, particularly farmers, are choosing to pay off their loans faster – a trend we have seen previously in good times,” McEwan told the House of Representatives.

McEwan stated that, of the 130,000 business loans and mortgages NAB had paused in 2020, over 98% are no longer on deferral.

While the news will put a spring in the step of many Australians, McEwan warned not to get too excited just yet.

“The data we have is short term,” he said.

“We are only months into the recovery. Challenges and uncertainty do remain. While most of our customers are back on track, some sectors such as hospitality, transport, professional services and tourism continue to hurt because of COVID and more recently the floods and the cyclone in WA.”

NAB CEO’s advice to the government

McEwan said government support measures, such as the SME Recovery Loan Scheme, are vital to Australia’s economic recovery. Though he cautioned sometimes they won’t be enough.

He said the government must make it easier for small business to innovate and modernise their businesses. While he supports first home buyer incentives, he said states need to simplify their approval processes for land developments. Doing so would combat the housing crisis, he said.

He also said more needs to be done to resecure the international student market, commenting that more international students will bring life into Australia’s CBDs and supply businesses with seasonal labour. 

According to McEwan, to do all of the above, the government must prioritise 3 actions:

First of these priorities is for all of us to get behind the rollout of the COVID vaccine. I will be encouraging all my colleagues at NAB to be vaccinated and will support them to do so. Last week as I had my flu shot at work, I was considering how large employers like NAB could assist with the rollout of the vaccine. We would be happy to do so at the right time.

Secondly, as I’ve said before, we need to have a national plan for living with the virus. Short term lockdowns in capital cities disrupt travel plans, they undermine confidence and deter activity.

And the third is reopening our international borders. The travel bubble with New Zealand is very welcome and more of these arrangements are needed. This will show that Australia can manage international arrivals which is critical for confidence.

At the time of writing, the NAB share price is trading 1.19% lower on the ASX, swapping hands for $26.62.

More reading

• Why NAB (ASX:NAB) shares could take off: fundie
• This ASX telco and bank will go gangbusters: fundie
• ASX 200 rises, Zip (ASX:Z1P) flies, bank ratings upgraded
• Why Westpac (ASX:WBC) could be about to deliver a dividend surge
• Why the NAB (ASX:NAB) share price could push higher from here

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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