There are a few ASX shares that are highly regarded by multiple brokers.

Sometimes you can get differences of opinion from brokers about different companies. One broker might say that Woolworths Group Ltd (ASX: WOW) shares are a buy, whilst another one could think that Woolworths shares are a sell.

When many brokers think that an ASX share is a buy then it could be an indicator that there’s an opportunity. Or that they’re all wrong.

With that in mind, here are two that are liked by several brokers:

Reject Shop Ltd (ASX: TRS)

The discount retailer is rated as a buy by at least three analysts including Ord Minnett.

Reject Shop just announced its FY21 half-year result. It announced that sales fell by 0.3% to $434.3 million, with comparable store sales flat.

The company said that sales were impacted by COVID-19 restrictions and stock availability issues because of delays in international shipping. However, almost all Christmas stock was on the shelves before Christmas and it was effectively sold out before Christmas Eve.

Underlying earnings before interest, tax, depreciation and amortisation (EBITDA) went up by 20.8% to $31.1 million, with underlying EBIT rising by 44.9% to $23.3 million and underlying net profit after tax (NPAT) going up 46.5% to $16.3 million. This was achieved despite a write down of hand sanitiser of $3.6 million.

A key part of the profit growth was the cost of doing business (CODB) margin improving by 230 basis points to 34.9%. That included $2.4 million in administration expense savings and $8 million in store expenses.

The reduction in inventory by the ASX share, as well as the simplification and standardisation of in-store processes, during the half were the main drivers of store labour reducing to 13.6% of sales, down from 14.9% in the prior corresponding period.

Reject Shop reminded investors that it normally makes a loss in the second half of the year, so the first half shouldn’t be used as an indicator for the second half. It also continues to be affected by lower foot traffic and higher shipping charges.

It had net cash of $107.6 million at 27 December 2020 on the balance sheet, up from $51.9 million at 29 December 2019.

Ord Minnett said that the underlying EBITDA was better than the broker was expecting because of cost reductions. It has a share price target of $10.34 for Reject Shop.

Baby Bunting Group Ltd (ASX: BBN)

Baby Bunting shares are liked by at least five brokers, including Morgans.

This is another ASX retail share that is popular. The baby and infant product retailer announced its FY21 half-year result earlier this week.

It reported that pro forma net profit after tax rose by 43.5% to $10.8 million and statutory net profit grew by 54.7% to $7.5 million.

This result was driven by growth across various parts of the business. Total sales increased by 16.6% to $217.3 million, drive by online sales growth of 95.9% and comparable store sales growth of 15% (or 21.8% excluding Victorian stores).

The ASX share saw increased profitability at various levels of its financials. The gross margin improved by 41 basis points to 37.4%, helping pro forma EBITDA increase by 29.7% to $18.5 million.

Due to the strength of the result, the Baby Bunting board decided to increase the interim dividend by 41.4% to 5.8 cents.

In a trading update, Baby Bunting said that comparable store sales for the first six weeks of the second half of FY21 showed growth of 18.5%.

Morgans said that whilst the net profit wasn’t quite as good as expected, the expansion to New Zealand adds to Baby Bunting’s growth prospects and may offer better returns compared to retail peers. The retailer’s growth for FY23 and further into the future looks better because of New Zealand.

The broker has a share price target of $6.39 for Baby Bunting.

More reading

• All eyes on the Reject Shop (ASX: TRS) share price
• Leading brokers name 3 ASX shares to buy today
• ASX 200 falls, Melbourne lockdown bites, Baby Bunting drops
• Why AVITA, Baby Bunting, Kathmandu, & Webjet shares are sinking
• Why the Baby Bunting (ASX:BBN) share price is tumbling 10% lower

Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. 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.

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Are you looking to boost your income portfolio with some ASX dividend shares? Then you might want to take a look at the ones listed below.

Here’s why these ASX dividend shares could be in the buy zone:

Accent Group Ltd (ASX: AX1)

This leading leisure footwear retailer could be a top option for income investors.

Thanks to the strong performance of its HYPEDC, The Athlete’s Foot, and Platypus brands, Accent has been growing at a very strong rate over the last 12 months. This has been driven partly by a favourable redirection of consumer spending away from international travel.

Accent recently revealed first half like for like sales growth of 12.3% excluding stores closures. And with its online sales booming, there’s a good chance it will be enjoying wider margins and deliver even stronger profit growth.

One broker that is positive on the company is Citi. It currently has a buy rating and $2.60 price target on its shares and is forecasting an 11 cents per share dividend in FY 2021. Based on the current Accent share price, this represents a fully franked 4.7% dividend yield.

Coles Group Ltd (ASX: COL)

Another ASX dividend share to look at is Coles. It has also been a big winner from a shift in consumer spending and habits. This led to the supermarket giant delivering a strong half year result last week.

And while its cautious outlook spooked investors and led to the Coles share price sinking lower, this appears to have created a buying opportunity.

Analysts at Goldman Sachs have reaffirmed their buy rating but trimmed their price target slightly to $20.70. Based on the current Coles share price, this price target implies potential upside of 26% over the next 12 months excluding dividends. Including the 3.7% dividend yield that Goldman estimates that its shares offer, this increases to approximately 30%.

More reading

• ASX retail shares in focus as Aussies spend big in January
• Brokers name 3 ASX shares to buy right now
• The Coles (ASX:COL) share price is down 10% in two days: Time to buy?
• Why Bellevue Gold, Coles, NRW, & Perpetual shares are trading lower today
• Why the Coles (ASX:COL) share price is sinking 6% today

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of COLESGROUP DEF SET. The Motley Fool Australia has recommended Accent Group. 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 S&P/ASX 200 Index (ASX: XJO) was on course to record a solid gain until a sharp pullback on Friday wiped that out and more. The benchmark index fell 0.2% over the five days to end at 6,793.8 points.

Not all shares dropped lower with the market last week. Here’s why these were the best performers on the ASX 200:

EML Payments Ltd (ASX: EML)

The EML Payments share price was the best performer on the ASX 200 last week with a 24.2% gain. Investors were buying the payments company’s shares following the release of its half year results. EML Payments delivered a 54% increase in group gross debit volume to $10.2 billion and a 61% jump in revenue to $95.3 million. As this growth was driven largely by its lower margin General Purpose Reloadable (GPR) segment, its net profit grew at a slightly lower rate of 30% to $13.2 million. In addition, management reinstated its guidance and is predicting strong full year growth.

Nearmap Ltd (ASX: NEA)

The Nearmap share price wasn’t far behind with a 21.3% weekly gain. Much to the dismay of an overseas short seller, investors were fighting to buy the aerial imagery technology and location data company’s shares after the release of its half year results. Nearmap reported annual contract value (ACV) of $112.2 million on a reported basis and $116.7 million on a constant currency basis. This represents a 16.1% and 21% increase, respectively, over the prior corresponding period. The company’s North American business was the key driver of its growth.

Lynas Rare Earths Ltd (ASX: LYC)

The Lynas share price was on form and charged 15.7% higher over the five days. Investors were buying the rare earths producer’s shares amid reports that China was looking to curb the exports of rare earth minerals that are crucial to defence industry. These materials are used to manufacture sophisticated weaponry such as fighter jets. Given its status as the largest rare earths producer outside China, this may bode well for Lynas.

Zip Co Ltd (ASX: Z1P)

The Zip share price was on form again and rose a further 14% during the period. This was despite there being no meaningful news out of the buy now pay later provider. In the middle of the week Zip responded to an ASX price query but stated that it was unaware of the reason its shares were hurtling higher. It also made no mention of speculation that it was looking at a secondary listing in the United States.

More reading

• These were the worst performing ASX 200 shares last week
• 3 reasons why the EML (ASX:EML) share price could be a buy
• ASX 200 sinks 1.3%, Cochlear soars, TWE sours
• The PWR (ASX:PWH) share price is on fire today, up 6%. Here’s why
• ASX 200 down 0.6%: Cochlear jumps, Goodman upgrades guidance

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 EML Payments. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Nearmap Ltd. and ZIPCOLTD FPO. The Motley Fool Australia has recommended EML Payments and Nearmap Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Respected fund manager Wilson Asset Management (WAM) has recently identified a few ASX shares that it owns across its various funds.

WAM operates several listed investment companies (LICs). Three examples of those LICs are WAM Capital Limited (ASX: WAM), WAM Active Limited (ASX: WAA) and WAM Leaders Ltd (ASX: WLE).

McMillan Shakespeare Limited (ASX: MMS)

WAM Active owns McMillan Shakespeare shares and describes it as Australia’s largest provider of salary packaging, novated leasing, consumer and fleet financing and management services.

The company manages more than 290,000 employee benefit programs and over 70,000 vehicles throughout Australia, New Zealand and the United Kingdom.

In January, the ASX share announced it expects underlying net profit after tax (NPAT) for the first half of FY21 to be $42.7 million, up from $37.8 million in the first half of FY20.

The fund manager believes that the low interest rate environment, strong consumer confidence and a strong market for new car sales will benefit fleet and novated leasing companies over the next 12 months.

Bega Cheese Ltd (ASX: BGA)

Bega Cheese is an ASX share that’s owned in the WAM Capital portfolio.

The leading dairy business is currently changing its focus on activities that are higher up the value chain and mitigating the risks that come with commodity markets.

WAM is also attracted to Bega Cheese after the acquisition of Lion Dairy & Drinks. With this acquisition, Bega will effectively double its annual revenue to $3 billion, increase its dairy footprint and dramatically increase its distribution network in the country.

Incitec Pivot Ltd (ASX: IPL)

Incitec Pivot is the third ASX share pick. It’s a business that’s in the WAM Leaders portfolio.

WAM Leaders described Incitec Pivot as a global industrial chemicals business that manufactures and distributes industrial explosives, industrial chemicals and fertilisers.

One of the most important drivers of the Incitec Pivot share price is commodity prices, according to WAM Leaders.

In January, ammonia, urea and DAP fertiliser prices rallied sharply, driven by improved seasonal conditions, strong soft commodity prices, constrained supply and improved industrial demand. This has offset the strengthening Australia dollar (combined with the company’s foreign exchange hedging program) and higher natural gas prices, which are major costs to the ASX share.

WAM Leaders said that it expects the fertiliser price momentum to continue to support the share price, with earnings upside outweighing the potential headwinds facing the Australian coal market.

More reading

• Top fund manager names these 2 ASX shares as buys
• Why Advance NanoTek, Incitec Pivot, Starpharma, & Zoono are tumbling lower
• ASX 200 up 0.8%: Nearmap jumps, Bendigo and Adelaide Bank impresses
• Incitec (ASX:IPL) share price falls on performance update
• Wilson Asset Management thinks these 2 ASX shares are a buy

Motley Fool contributor Tristan Harrison 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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A disappointing end to the week led to the S&P/ASX 200 Index (ASX: XJO) wiping out all its weekly gains and more. The benchmark index ultimately ended the week 0.2% lower at 6,793.8 points.

While a number of ASX 200 shares dropped with the market, some fell more than others. Here’s why these were the worst performers:

NRW Holdings Limited (ASX: NWH)

The NRW share price was the worst performer on the ASX 200 with a decline of 15%. Investors were selling the contractor’s shares following the release of its half year results. For the six months ended 31 December, the contractor reported a 44% increase in revenue to $1,168 million and a 28% lift in EBITDA to $132.8 million. However, on the bottom line the company posted a disappointing 17% decline in net profit to $29 million. This was driven largely by a significant increase in depreciation.

GWA Group Ltd (ASX: GWA)

The GWA share price wasn’t far behind with a decline of 14.9% last week. The catalyst for this was the release of a disappointing half year result by the leading provider of water solutions products and systems. For the half, the company reported a 4.4% decline in revenue to $197.2 million. Management advised that this reflects an overall decline in market conditions. Things were even worse on the bottom line, with normalised net profit after tax falling 17% to $20 million.

Northern Star Resources Ltd (ASX: NST)

The Northern Star share price was out of form and dropped 13.9% over the five days. This appears to have been driven by a broker note out of Morgan Stanley last week. After updating its financial models to reflect the merger with Saracen Mineral, the broker has reiterated its underweight rating and put a $12.95 price target on the company’s shares. Though, it is worth noting that the Northern Star share price has now dropped below this price target.

Netwealth Group Ltd (ASX: NWL)

The Netwealth share price was a poor performer and dropped 13.8% lower last week. Investors were selling the investment platform provider’s shares despite it delivering strong growth during the first half. For the six months ended 31 December, the company recorded a 30.1% increase in EBITDA to $40.5 million. This was driven by strong growth in Netwealth’s funds under administration over the last 12 months. Concerns over its second half margins may have been weighing on its shares.

More reading

• ASX 200 sinks 1.3%, Cochlear soars, TWE sours
• The PWR (ASX:PWH) share price is on fire today, up 6%. Here’s why
• ASX 200 down 0.6%: Cochlear jumps, Goodman upgrades guidance
• ASX 200 mixed, CSL reports 44% profit growth, TWE soars
• Why the Orora (ASX:ORA) share price is soaring 6% today

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of Netwealth. 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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There are a few compelling reasons why the EML Payments Ltd (ASX: EML) share price could be an interesting idea to think about.

The company announced its FY21 half-year result to the market this week and it included a number of strong growth numbers.

What is EML Payments?

For readers that haven’t heard of EML, it’s a diversified payments company that develops solutions for businesses. It says that its innovative payment solutions provide options for disbursement payouts, gifts, incentives and rewards.

It operates across 28 countries in Australia, Europe and North America. It can process payments in 27 currencies.

What did EML just report?

EML Payments just reported a high level of growth across all of its financial metrics.

For the six months to 31 December 2020, total gross debit volume (GDV) grew by 54% to $10.2 billion. This drove group revenue higher by 61% to $95.3 million.

Group earnings before interest, tax, depreciation and amortisation (EBITDA) went up 42% to $28.1 million and underlying net profit after tax (NPAT) rose by 30% to $13.2 million.

The strongest growth rate was the increase in underlying operating cash inflows of 68% to $35.1 million.

Here are 3 reasons why the EML share price could be interesting

1: Strong growth for general purpose reloadable (GPR)

GDV in the GPR segment grew strongly, rising by 233% to finish on $4.87 billion. This division generated $54.4 million of revenue, being more than half of the business.

Despite the lockdowns and social distancing restrictions in key markets including Spain, France and the UK, the acquired business called Prepaid Financial Services (PFS) exceeded EML’s expectations, contributing $3.12 billion in GDV, following strong performance in the digital banking and government sectors.

The GPR segment also saw growth in the non-PFS EML businesses with organic growth of 25%. Two areas that impressed were the salary packaging with 60% growth and gaming with 42% growth.

2: Expected recovery of gift and incentive

The gift and incentive segment, which includes things like physical gift cards, saw challenging trading conditions due to COVID-19 related mall closures, lockdowns and social distancing regulations, with GDV in the segment falling 11% to $0.75 billion. The EML share price dropped to $1.34 in March 2020 as investors worried about the impacts of COVID-19 in this division. 

There were stringent lockdown restrictions in European and Canadian markets in the weeks just before the seasonal peak of Christmas, resulting in a 19% decline in mall volumes compared to last year. Despite this impact, incentive programs grew 11%, partially offsetting weaker mall volumes.

But EML is expecting a recovery. It said that whilst this is impacting its short-term results, it’s expecting the majority of the lost volume in the malls segment to be recovered in FY22 as economies re-open and lockdown restrictions.

Management are also expecting more growth in its incentive vertical driven by new partners and programs in the market.

3: Global growth

EML is one of the ASX shares that’s delivering global exposure and growth. There are some businesses that are focused on just Australia and/or the US.

Looking at the general purpose reloadable and gift & incentive divisions, both of them generate more than half of the GDV from Europe.

It’s the virtual account numbers segment where most of the GDV comes the Americas.

The company continues to add new partners to its payments network. Some of the latest ones are: Vista Money, Store Cash, Shouta, Hello Loyalty and Perx.

Valuation

At the current EML share price, it’s priced at 29x FY23’s estimated earnings according to Commsec. 

More reading

• Why the EML Payments (ASX:EML) share price is still pushing higher
• ASX 200 dips, EML soars after reporting, Appen sinks
• One year on and 50% up, the All Technology Index is booming
• ASX 200 down 0.5%: Domino’s delivers, Westpac impresses, Coles sinks
• Why Domino’s, EML Payments, Redbubble, & Westpac shares are storming higher

Tristan Harrison 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 EML Payments. The Motley Fool Australia has recommended EML Payments. 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 S&P/ASX 200 Index (ASX: XJO) fell by 1.3% today to 6,794 points.

Reporting season continues to roll on as some companies impress the market.

Here are some of the highlights from today:

Cochlear Limited (ASX: COH)

The Cochlear share price soared by almost 9% today after the healthcare business reported its result for the six months to 31 December 2020.

Cochlear said that its sales revenue fell by 4% to $742.8 million. Underlying earnings before interest and tax (EBIT) declined by 4% to $175.6 million and underlying net profit after tax (NPAT) dropped 6% to $125.3 million.

The statutory net profit after tax (NPAT) jumped 50% to $236.2 million with $59 million of patent litigation-related tax and other benefits, $34.7 million of innovation fund gains and $17.2 million of COVID-19 government assistance. However, the company plans to give back the jobkeeper payments to the government.

The ASX 200 company’s board decided to pay a dividend of $1.15 per share, representing a dividend payout ratio of 60%.

In FY21, Cochlear is expecting to deliver underlying net profit of between $225 million and $245 million. This would represent an increase of between 46% to 59% compared to the prior corresponding period. It’s becoming increasingly confident of the resilience of its hearing implant business.

It also expects to target a dividend payout ratio of 70% of underlying net profit and anticipates returning to the 70% ratio as markets continue to improve.

Inghams Group Ltd (ASX: ING)

Poultry business Inghams was another of today’s top performers in the ASX 200 after reporting its FY21 half-year result.

Inghams reported that its core poultry volume rose by 4% to 224.6kt. Underlying earnings before interest, tax, depreciation and amortisation (EBITDA) went up 4.3% to $218.6 million and underlying NPAT increased by 28.4%.

The poultry business reported that good progress has been achieved in the reduction of frozen poultry inventory arising in FY20 due to COVID-19, down $42.3 million during the half and now close to normal levels.

Inghams’ board decided to declare a fully franked dividend of 7.5 cents per share, which was an increase of 2.7%. This reflected a dividend payout ratio of 74.3% of underlying NPAT.

The CEO and managing director of Inghams, Jim Leighton, said:

These results have been delivered despite the continued impact of COVID-19, ongoing high realised feed prices and the partial closure of Australia’s poultry export channels due to industry biosecurity issues in Victoria. Our strategy is driving performance and delivering improved returns.  

Treasury Wine Estates Ltd (ASX: TWE)

The Treasury Wine Estates share price fell by 6% today, making it one of the worst performers in the ASX 200. It has given up some of the gains made yesterday after it rocketed higher.

Today, it was reported by the Australian Financial Review that Michelle Brampton, who is the managing director of the Treasury Wine Europe, Middle East and Africa (EMEA) business, has resigned and will be leaving in the next few months after TWE announced it was restructuring into new three new business units.

The reason why she reportedly resigned is that despite being a compelling candidate to lead one of the new business units, having held various positions around the company for many years, she was overlooked.

More reading

• Here’s why the Inghams (ASX:ING) share price is on the rise today
• The PWR (ASX:PWH) share price is on fire today, up 6%. Here’s why
• Why the Treasury Wine Estates (ASX:TWE) share price is down 7%
• ASX 200 down 0.6%: Cochlear jumps, Goodman upgrades guidance
• Why Cochlear, Goodman, Lovisa, & Whispir shares are surging higher

Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Cochlear Ltd. The Motley Fool Australia owns shares of and has recommended Treasury Wine Estates Limited. The Motley Fool Australia has recommended Cochlear Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Ecograf Ltd (ASX: EGR) share price finished today’s session 17.28% lower at 67 cents a share.

With no price-sensitive news out today to explain the sharp nosedive, let’s look at last week’s investor presentation to see what the graphite producer has been up to.

Outlook for Ecograf

Ecograf is focused on building a vertically integrated business to produce high purity graphite for the lithium-ion battery market.

Looking at its latest investor update, the company revealed its plans to finalise arrangements and complete engineering programs with GR Engineering for the construction of a processing facility in Western Australia.

Ecograf also intends to advance works for a second plant site in Europe and to continue to build strategic partnerships with key battery industry participants.

The business is also positioning to undertake the engineering and construction of a containerised pilot plant. This will provide recovered carbon anode material for product qualification processes.

Ecograf advised that it will continue test work with electric vehicle (EV) and battery manufacturers.

Ecograf snapshot

Ecograf claims to be the world’s first purified spherical graphite processing facility outside of China. 

The company notes that demand for spherical graphite is forecast to grow 31.5% per annum over the next decade and reach 1.2 million tonnes per annum by 2030.

Ecograf’s strategy involves expanding graphite production and regionalising manufacturing facilities in Europe, Asia and the US to support increasing demand.

Going forward, Ecograf will pursue ongoing government support for research, innovation and advanced manufacturing programs.

The business believes that its recovery of graphite from recycled batteries using its EcoGraf process will enable the recycling industry to reduce battery waste and use recycled graphite to improve battery lifecycle efficiency.

Over the past year, the Ecograf share price has gained a huge 737%. Year to date, Ecograf shares are up 294%.

More reading

• Why is the Ecograf (ASX:EGR) share price on a wild ride today?
• The Ecograf (ASX:EGR) share price is surging 9%. Here’s why

Motley Fool contributor Gretchen Kennedy 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 MGC Pharmaceuticals Ltd (ASX: MXC) share price zoomed up more than 35% higher today off the back of a positive announcement released to the market yesterday.  

In a strong finish at the close of trade today, the MCG Pharma share price was trading at 12.5 cents, up 31.58%.

What’s fuelling the MGC Pharma share price?

MGC Pharma advised the market yesterday that it had entered a sale and distribution agreement for its anti-inflammatory medicinal cannabis product.

According to the release, MGC has entered an exclusive, 3-year agreement with European nutraceuticals producer Swiss PharmaCan AG (SPC).

The deal will see SPC exclusively sell and distribute MGC’s food supplement ArtemiC product line. In addition, SPC will be responsible for obtaining all relevant permits, approvals, certificates and licences and customs clearances under the distribution deal.

The agreement also includes a minimum wholesale order quantity to MGC of 40,000 units of ArtmiC Rescue per quarter. The initial distribution deal is worth $1.1 million, with SPC taking delivery of 10,000 units of ArtemiC.

MGC Pharma says the agreement will allow the company direct access to large and rapidly growing markets.

ArtemiC completes COVID-19 trial

The distribution agreement with SPC follows MGC’s completion of the Phase 2 clinical trial for ArtemiC Rescue.

In the trial results, ArtemiC Rescue demonstrated the ability to prevent deterioration in patients with COVID-19 and achieve faster clinical improvements.

The trial, conducted on 50 COVID-19 patients in India and Israel, also resulted in reduced symptoms and pain associated with the virus.

The clinically-tested food supplement contains four natural-based ingredients: Artemisinin, Boswellia serrata, curcumin and vitamin C.

How has the MGC Pharma share price responded?

Including today’s price action, the MGC Pharma share price has surged more than 78% since the announcement was released early yesterday.  

Overall, it’s been a significant month for the company, which has seen the MGC Pharma share price surge more than 350% since the start of February.

The company made headlines earlier this month after listing on the London Stock Exchange (LSE).

In addition, MGC Pharma completed a successful capital raise of £6.5 million through an oversubscribed share placement. The company advised that the capital raise proceeds were being used to meet costs associated with clinical trials for its ArtemiC and CannEpil products.

More reading

• Why the MGC Pharma (ASX:MXC) share price is smoking the market today

Motley Fool contributor Nikhil Gangaram 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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Ainsworth Game Technology Limited (ASX: AGI) shares were hitting the jackpot during Friday’s session. By the market’s close, the Ainsworth share price had jumped 15.38% higher to 90 cents. Meanwhile, the S&P/ASX 200 Index slumped 1.32% for the day.

Let’s take a look at what drove the gaming machine developer’s shares higher.

Why the Ainsworth share price was winning today

Ainsworth shares had a stellar end to the week after the company advised it has entered into a new, secured credit facility with United States-based Western Alliance Bancorporation. 

Proceeds from this new, five-year US$35 million facility are being used to pay out the company’s obligations under its prior credit facility with Australia and New Zealand Banking Group Limited (ASX: ANZ).

How has Ainsworth been performing?

On 10 February 2021, Ainsworth announced it expects to report a loss before tax of approximately $14 million for the six months ended 31 December 2020. 

In its preliminary results, however, the company also reported that it expects improved revenue when compared to the prior period. 

Ainsworth reported preliminary revenue of $72 million for the first half.

The company’s North American business continued to show positive signs with revenue in the period of $41 million compared to the $21 million in the previous half and $51 million in the prior corresponding period.

At 31 December 2020, Ainsworth had a cash balance of $24 million resulting in net debt of $15 million. 

The company expects to release its unaudited FY21 first-half results on 25 February 2021 and audited results in March 2021.

Company snapshot

Ainsworth is engaged in the design, production, sale, lease, and servicing of gaming machines, also known as poker machines or ‘pokies’.

Over the past year, the Ainsworth share price has rallied by more than 34%.

Based on the current share price, Ainsworth has a market capitalisation of around $262 million. The company presently has approximately 336.6 million shares outstanding.

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Motley Fool contributor Gretchen Kennedy 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 Ainsworth (ASX:AGI) share price surged 15% today appeared first on The Motley Fool Australia.

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