Looking for 2 ASX shares that have strong long-term growth potential? Australia’s economy may be starting to pick up after the coronavirus. Now could be a good time to top up on your ASX portfolio with Transurban Group (ASX: TCL) and JB Hi-Fi Limited (ASX: JBH) shares.

Why JB Hi-Fi?

Bricks and mortar retailers such as Myer Holdings Ltd (ASX: MYR) and Reject Shop Ltd (ASX: TRS) have seen recent struggle.

However, JB Hi-Fi continued to see strong momentum through the quarter containing March. Its Australia division experienced sales growth of 11.6%. Growing stronger was its Good Guys division at 13.9%.  This strong momentum continued into April and early May.

JB Hi-Fi’s Australia stores remained open during the coronavirus crisis.

The demand for a range of goods including technology products for remote working, learning and communication remains strong. Essential home appliances for food storage and preparation saw high demand, too.

In particular, the company’s online channel strategy is well developed, assisted by a handy click and collect facility.

JB Hi-Fi’s share price has rallied strongly from its 12 month low in late March. Despite it becoming a bit pricey, I still believe it offers reasonably good value as a long-term buy.

It also offers an attractive forward annual dividend yield of 3.9%, that is fully franked.

Why Transurban?

Transurban is one of the world’s largest toll-road operators. It’s the largest operator of private toll-roads in Australia, owning a virtual monopoly of Sydney and Melbourne tolls with a number also in Brisbane. In addition, Transurban also manages and develops toll-roads in North America.

Unsurprisingly, Transurban’s traffic volumes were significantly impacted in the early phases of the coronavirus pandemic. However, Transurban revealed in its most recent update in early May that traffic numbers are now starting to pick-up again.

Also, some commuters may be choosing to drive instead of taking crowded trains and buses through public transport.

I believe that Transurban is still well-positioned for long term growth. This is likely to lead to above-average shareholder returns.

A key driver of this will be the increasing use of toll roads. Congestion on our main roads is growing as our major cities continue to expand. Thus, vehicle volumes will inevitably continue to increase.

Both Transurban and JB Hi-Fi shares, I believe, offer strong long-term growth potential and are worth a look by investors.

More reading

• Can ASX 200 retail shares outperform this year?
• 2 cheap ASX 200 shares to buy right now
• Is the AFIC share price a buy right now?
• ASX 200 Weekly Wrap: Surging bank shares push ASX toward 6,000
• These are the 10 most shorted ASX shares

Motley Fool contributor Phil Harpur has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of Transurban Group. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The post Why JB Hi-Fi shares and 1 other are a buy for long-term growth appeared first on Motley Fool Australia.

from Motley Fool Australia https://ift.tt/2XTJs0K

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 200 shares are in the buy zone:

CSL Limited (ASX: CSL)

According to a note out of UBS, its analysts have retained their buy rating and $342.00 price target on this biotherapeutics company’s shares. The broker believes that CSL’s Seqirus business is well-positioned to benefit from increasing demand for influenza vaccines in the future because of the current pandemic. It suspects that this could offset any weakness in the core CSL Behring business caused by potential plasma collection disruptions. I agree with UBS and feel CSL would be a great option for investors.

Nearmap Ltd (ASX: NEA)

A note out of the Macquarie equities desk reveals that its analysts have retained their outperform rating and lifted the price target on this aerial imagery technology company’s shares to $2.47. Although Nearmap is being impacted by the pandemic, it notes that its sales have remained resilient and usage among existing customers appears strong. I think Macquarie is spot on and believe Nearmap could be a great long term option.

Rio Tinto Limited (ASX: RIO)

Analysts at Goldman Sachs have retained their buy rating and lifted the price target on this mining giant’s shares to $101.10. The broker made the move after upgrading its iron ore price forecasts to account for strong Chinese steel production and weaker supply out of Brazil. It expects the stronger iron ore prices to lead to a better than expected profit from Rio Tinto in FY 2020. Goldman also estimates that its free cash flow will support a fully franked dividend yield of 5%. I would have to agree with this recommendation as well. I think Rio Tinto is a top option for investors wanting exposure to the resources sector.

More reading

• The smartest ASX 200 shares to buy with $2,500 today
• ASX 200 up 1%: Big four banks jump, Afterpay hits record high
• Are our ASX big miners on an earnings upgrade cycle?
• Can ASX 200 retail shares outperform this year?
• 1 ASX 200 tech share to buy and hold for a decade

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 CSL Ltd. The Motley Fool Australia owns shares of and has recommended Nearmap Ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The post Top brokers name 3 ASX 200 shares to buy right now appeared first on Motley Fool Australia.

from Motley Fool Australia https://ift.tt/300Zicm

Among the most traded blue chips, the real estate sector is head and shoulders above the rest. It sold off heavily during Monday’s trading, with many investors looking to buy the dip on Tuesdays. 

The real estate sector is faced with continuing uncertainty due to the COVID-19 pandemic. In some cities, residential housing prices are starting to show signs of deterioration. Moreover, shopping centres are still working through issues of rent during the crisis. The full impact on smaller retailers is yet to be clearly determined. 

Most traded blue chip real estate shares

Vicinity Centres (ASX: VCX) led the week announcing a $1.2 billion capital raising through share placement. At the same time, it announced there would be no distribution for the 6 months ending 30 June. Vicinity was down by 1.5% from Friday’s closing price to Tuesday’s closing price. On Tuesday, 65 million shares changed hands.

The move will shore up the company’s balance sheet in light of increased uncertainty due to COVID-19. The placement has allowed it to reduce its level of gearing from 34.9% to 26.6%. In addition, the company now sits with cash and undrawn debt facilities of $2.6 billion. Vicinity invests in shopping centres across Australia.

The Mirvac Group (ASX: MGR) share price has fallen by 2.1% from Friday’s closing price to Tuesday. Over 44 million shares have changed hands since the opening of the ASX this week. Over 60% of its assets are in office real estate. Mirvac removed its FY20 guidance and distributions on 18 March. It disclosed a 5.6% reduction in monthly comparable sales in its retail assets.

Scentre Group (ASX: SCG) saw its share price rise by 2.65% by close of trading on Tuesday. This was after a sharp sell-off on Monday. As one of the week’s most traded blue chips, Scentre saw 79 million shares change hands in the first two days of this week. Scentre holds the domestic shopping centre assets formerly owned by Westfield Corporation. It withdrew guidance on 20 March. Like the other most-traded blue chips, Scentre saw a sharp fall on Monday followed by investors clawing back value on Tuesday.

Foolish takeaway

All three of these real estate investment trusts (REIT’s) are selling at a price to earnings ratio (P/E) of 10 or under. Historically this is a good P/E for this sector and is generally lower than it has been since 2015. The worst news is yet to be announced as April and May have been our worst months as a country during the pandemic. They are all well-managed companies with strong balance sheets. If you are patient then these companies are selling at good entry points over a medium-term of, say, 1–2 years. 

More reading

• Leading brokers name 3 ASX shares to sell today
• Why Evolution, Iress, Pro Medicus, & Vicinity shares are dropping lower
• ASX 200 down 0.1%: Big four banks drag ASX lower ahead of RBA meeting
• The latest ASX 200 stocks to be upgraded by top brokers
• Why a2 Milk, Freedom Foods, Scentre, & TPG Telecom are dropping lower

Motley Fool contributor Daryl Mather has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Scentre Group. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The post Scentre, Vicinity and Mirvac shares are this week’s most traded ASX blue chips appeared first on Motley Fool Australia.

from Motley Fool Australia https://ift.tt/3gOJuj2

In early afternoon trade the S&P/ASX 200 Index (ASX: XJO) is on course to record a strong gain. At the time of writing the benchmark index is up 0.95% to 5,890.8 points.

Four shares that have failed to follow the market higher today are listed below. Here’s why they are tumbling lower:

The Austal Limited (ASX: ASB) share price is down 2.5% to $3.44. Investors have been selling the shipbuilder’s shares after it announced the retirement of its CEO. The company’s Chief Operating Officer, Patrick Gregg, will take over from the retiring David Singleton on 1 January 2021. Mr Singleton will continue to work closely with Mr Gregg for the next six months to ensure an efficient handover.

The Evolution Mining Ltd (ASX: EVN) share price has fallen 6.5% to $5.83. This morning analysts at UBS downgraded the gold miner’s shares to a neutral rating from buy. The broker made the move on valuation grounds after its shares surged past its price target of $5.50. Weakness in the gold price is also weighing on its shares.

The Newcrest Mining Limited (ASX: NCM) share price is down 3% to $29.87. Investors have been selling Newcrest and other gold miners after the price of the precious metal weakened overnight. Investors were moving out of safe haven assets and into risk assets amid optimism over the reopening of the U.S. economy. The S&P/ASX All Ordinaries Gold index is down 4.8% at the time of writing.

The Pro Medicus Limited (ASX: PME) share price has dropped 4% to $27.25. The healthcare imaging software provider’s shares have come under pressure since the release of a broker note out of UBS on Tuesday. It downgraded its shares to a neutral rating with a $29.65 price target. While the broker likes Pro Medicus and was pleased with its latest contract win, it isn’t a fan of its current valuation.

More reading

• ASX 200 up 1%: Big four banks jump, Afterpay hits record high
• 5 things to watch on the ASX 200 on Wednesday
• Why Evolution, Iress, Pro Medicus, & Vicinity shares are dropping lower
• Is the Newcrest Mining share price a buy?
• Here are all the ASX 200 companies that announced capital raisings in May

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 Austal Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. recommends Pro Medicus Ltd. The Motley Fool Australia owns shares of and has recommended Pro Medicus Ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The post Why Austal, Evolution, Newcrest, & Pro Medicus are tumbling lower appeared first on Motley Fool Australia.

from Motley Fool Australia https://ift.tt/2XPwSQ0

It’s hard to know which ASX 200 shares to buy right now with so much uncertainty still in the air. The coronavirus pandemic and oil price war have smashed valuations but we’ve seen a strong recovery during April and May.

If you’ve saved up some spare cash but don’t know where to invest, here are a couple shares I’ve got my eye on in June.

The smartest ASX 200 shares to buy with $2,500 today

I think healthcare is one sector to watch right now. I’ve got my eye on the largest ASX 200 healthcare share on the market: CSL Limited (ASX: CSL).

It’s been a rollercoaster of a ride for CSL shareholders in 2020. The Aussie biotech’s shares climbed to a new record high of $342.75 in late February before the S&P/ASX 200 Index (ASX: XJO) crashed lower.

CSL is currently trading at $282.90 per share and could be in the buy zone. The group is strong in influenza vaccinations and blood plasma treatments which I think aren’t going anywhere, given the current climate.

The ASX 200 healthcare share reaffirmed its guidance in April and could be one to watch in 2020.

I also like the look of NextDC Ltd (ASX: NXT) as a speculative tech play. The Aussie tech share has rocketed 40% in 2020 thanks to its strong expansion and beefed up balance sheet.

NextDC specialises in data security and storage. The group owns and operates a number of data centres across the country with more planned in the near future.

If we see a permanent move towards work from home arrangements, that could be good news for the ASX 200 tech share. More remote working means more data storage and security demand which could deliver higher earnings for NextDC.

Some might question the current $9.23 per share valuation. However, I think NextDC has the potential to be an ASX 50 share within a decade. If that proves to be the case, the current $4.2 billion market capitalisation could be set to surge in the coming years.

Foolish takeaway

These are just a couple of the ASX 200 shares that are on my radar right now.

More reading

• ASX 200 up 1%: Big four banks jump, Afterpay hits record high
• Are our ASX big miners on an earnings upgrade cycle?
• Can ASX 200 retail shares outperform this year?
• 1 ASX 200 tech share to buy and hold for a decade
• JobMaker is coming. These 3 ASX 200 shares could benefit

Ken Hall has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of CSL Ltd. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The post The smartest ASX 200 shares to buy with $2,500 today appeared first on Motley Fool Australia.

from Motley Fool Australia https://ift.tt/3gL7rrn

The S&P/ASX 200 Index (ASX: XJO) is on course to record another solid gain on Wednesday. In early afternoon trade the benchmark index is up 0.8% to 5,883.8 points.

Four shares that have climbed more than most today are listed below. Here’s why they are charging higher:

The Afterpay Ltd (ASX: APT) share price is up 3.5% to $51.22. At one stage today the payments company’s shares were up as much as 5.5% to a new record high of $52.29. Investors have been buying Afterpay’s shares after rival Zip Co Ltd (ASX: Z1P) announced its expansion into the lucrative U.S. market via the acquisition of QuadPay. While this will mean added competition, it may also help raise awareness of the payment method and accelerate its adoption with consumers and merchants.

The Infigen Energy Ltd (ASX: IFN) share price has surged 35% higher to 79.5 cents. Investors have been buying the renewable energy company’s shares after it received a takeover approach. UAC Energy, an investment holding company owned by the AC Energy Group and UPC Renewables Australia, intends to make an off-market takeover bid of 80 cents per share.

The Qantas Airways Limited (ASX: QAN) share price is up 5% to $4.19. This appears to have been driven by a broker note out of UBS this morning. According to the note, UBS has retained its buy rating and $4.65 price target on the airline operator’s shares. It appears optimistic that leisure and corporate travel markets will be given a big boost when state borders reopen.

The Zip Co share price has surged 25% higher to $6.48. Investors have been scrambling to buy the payments company’s shares after it announced that it is expanding into the U.S. market with the acquisition of QuadPay. The all-scrip deal, which values QuadPay at approximately $400 million, will give Zip Co access to a retail market estimated to be worth US$5 trillion per year.

More reading

• ASX 200 up 1%: Big four banks jump, Afterpay hits record high
• The Zip Co share price just zoomed to a record high: Is it too late to invest?
• Infigen Energy share price rockets 36% higher following takeover bid
• Afterpay and these top ASX tech shares are on fire in 2020
• ASX 200 rises 0.3%, Zip rockets higher

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. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The post Why Afterpay, Infigen, Qantas, & Zip Co shares are charging higher appeared first on Motley Fool Australia.

from Motley Fool Australia https://ift.tt/2XsECIQ

At lunch on Wednesday the S&P/ASX 200 Index (ASX: XJO) is on course to record a very strong gain. The benchmark index is up 1% to 5,894.9 points at the time of writing.

Here’s what is happening on the ASX 200 today:

Afterpay hits a record high.

The Afterpay Ltd (ASX: APT) share price has been a positive performer on Wednesday. Its shares jumped 5.5% to a record high of $52.29 this morning. Investors have been buying its shares after rival Zip Co Ltd (ASX: Z1P) announced its expansion into the lucrative U.S. market via the acquisition of QuadPay. Investors may believe the increased competition will accelerate the adoption of buy now pay later platforms in the multi-trillion dollar market.

Big four banks jump.

It has been a very positive day for Westpac Banking Corp (ASX: WBC) and the rest of the big four banks. All four banks are trading notably higher at lunch and are playing a key role in driving the ASX 200 higher. The best performer in the group at lunch is the Australia and New Zealand Banking GrpLtd (ASX: ANZ) share price. Its shares are up 4% at the time of writing. This morning the Australian Bureau of Statistics revealed that GDP fell 0.3% during the first quarter. This was in line with expectations.

Gold miners sink lower.

One area of the market acting as a drag on the ASX 200 index today is the gold sector. The likes of Evolution Mining Ltd (ASX: EVN) and Newcrest Mining Limited (ASX: NCM) are all trading notably lower at lunch. This follows a reasonable pullback in the gold price overnight. The price of the precious metal tumbled after Wall Street began betting on a successful economic restart. At lunch the S&P/ASX All Ordinaries Gold index is down 4.4%.

Best and worst ASX 200 performers.

The best performer on the ASX 200 on Wednesday has been the SKYCITY Entertainment Group Limited (ASX: SKC) share price with a 9.5% gain. This morning the casino and resorts operator revealed that its New Zealand operations have performed well since reopening. The worst performer on the ASX 200 is the Silver Lake Resources Limited (ASX: SLR) share price. Silver Lake’s shares are down 7% after the gold price decline.

More reading

• The smartest ASX 200 shares to buy with $2,500 today
• Why Afterpay, Infigen, Qantas, & Zip Co shares are charging higher
• Are our ASX big miners on an earnings upgrade cycle?
• Can ASX 200 retail shares outperform this year?
• 1 ASX 200 tech share to buy and hold for a decade

Motley Fool contributor James Mickleboro owns shares of Westpac Banking. The Motley Fool Australia owns shares of AFTERPAY T FPO. The Motley Fool Australia has recommended Sky City Entertainment Group Ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The post ASX 200 up 1%: Big four banks jump, Afterpay hits record high appeared first on Motley Fool Australia.

from Motley Fool Australia https://ift.tt/2ZZ99j7

Our largest miners may be in a cum-upgrade cycle that could see their share prices keep outperforming for a little longer yet!

We have Brazil to thank for this as the country’s poor management of the COVID-19 pandemic will curtail its iron ore exports.

Australia’s ability to flatten the coronavirus curve is giving the BHP Group Ltd (ASX: BHP) share price, Rio Tinto Limited (ASX: RIO) share price and Fortescue Metals Group Limited (ASX: FMG) share price an advantage.

I reckon these ASX miners are on an earnings upgrade cycle.

The Brazilian advantage

Brazil’s biggest iron ore miner Vale SA told the Australian Financial Review that its mines are running on a skeleton crew and that it’s license to operate is under “extreme pressure” from authorities.

Vale is not only sending home workers who tested positive for the virus, but anyone who had contact with the infected employee.

Meanwhile, the miner was forced to turn to the courts on Friday to keep its Itabira mining hub open after government officials tried to close it on the belief that the hub is a source of infections.

Broker upgrade

The escalating COVID-19 crisis in the Latin American country prompted Goldman Sachs to upgrade its iron ore forecast for 2020.

The broker thinks Vale will only be able to hit the low end of its production guidance in 2020, which will leave the iron ore market short of supply.

“We now expect Vale to sell 311Mt [million tonnes] of iron ore vs. guidance of 310-330Mt and for China steel production to grow by 0.4% to 998Mt but for steel production to peak mid-year and then moderate in 2H,” said the broker.

Iron ore forecasts for 2020 and 2021

Goldman Sachs is now forecasting the price of the steel making ingredient to average US$86 a tonne this year and US$80 a tonne in 2021. That’s about 7% to 8% higher than its original estimate.

What this translates to is a 12% upgrade to Fortescue’s earnings per share (EPS) forecast for both FY21 and FY22. Rio’s FY20 EPS gets boosted by 10% while BHP’s FY21 EPS enjoys an 8% lift.

“We forecast an average FCF [free cash flow] yield of 7-9% for the BHP and RIO over the next 3 years,” said Goldman.

“We think that copper production could disappoint over the next 12-18 months for both stocks, however, capex guidance could positively surprise and FCF should remain very attractive.”

Which ASX miner should you buy?

The broker is recommending BHP and Rio as “buy” but is keeping its “hold” rating on Fortescue after the stock’s big recent surge to a record high.

Goldman’s price target on BHP is $37.80, Rio Tinto $101.10 and Fortescue $12.10 a share.

I am expecting other brokers to be lifting their earnings forecasts on the sector too. Let the ASX miner earnings upgrade cycle begin!

More reading

• The smartest ASX 200 shares to buy with $2,500 today
• ASX 200 up 1%: Big four banks jump, Afterpay hits record high
• Can ASX 200 retail shares outperform this year?
• 1 ASX 200 tech share to buy and hold for a decade
• JobMaker is coming. These 3 ASX 200 shares could benefit

Motley Fool contributor Brendon Lau owns shares of BHP Billiton Limited and Rio Tinto Ltd. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The post Are our ASX big miners on an earnings upgrade cycle? appeared first on Motley Fool Australia.

from Motley Fool Australia https://ift.tt/3dxDhpC

The Musgrave Minerals Ltd (ASX: MGV) share price has charged out of a trading halt this morning on the back of drilling results at its flagship Cue Project.

Musgrave Minerals is an active Australian gold and base metals explorer. Its cornerstone project is the Cue Gold Project in the Murchison Province of Western Australia. The company also has a big footprint in the Musgrave Province, one of the least explored exploration frontiers in the country.

At the end of FY19, Westgold Resources Ltd (ASX: WGX) was Musgrave Minerals’ largest shareholder, owning 16.78% of shares. Musgrave’s shareholder base also comprises other big ASX names like Evolution Mining Ltd (ASX: EVN) and IGO Ltd (ASX: IGO).

Why the Musgrave Minerals share price is spiking

This morning, Musgrave reported assay results for the first 12 reverse circulation (RC) drill holes from the current program at the new Starlight gold discovery. The Starlight link-lode is located at the Break of Day deposit within the Cue Gold Project.

For a bit of background, the Cue Gold Project hosts total resources of 6.45 million tonnes at 3.0 grams per tonne (g/t) gold for 613,000 ounces. This includes the Break of Day deposit (868,000 tonnes at 7.2 g/t gold for 199,000 ounces of contained gold) and the Lena deposit (4.3 million tonnes at 2.3 g/t gold for 325,000 ounces of contained gold).

Significant intercepts announced this morning from the initial RC drill holes at Starlight include:

• 12 metres at 112.9 g/t gold from 36 metres;
• 48 metres at 4.4 g/t gold from 30 metres;
• 7 metres at 13.7 g/t gold 114 metres;
• 6 metres at 5.7 g/t gold from 81 metres; and
• 6 metres at 5.2 g/t gold from 176 metres.

The drilling is focused on infilling and extending the new high-grade lode where mineralisation has been intersected over a strike of more than 115 metres.

Commenting on the results, managing director Rob Waugh said:

“This is a great start to the program and confirms the current model extending the mineralisation both up dip where it approaches the surface and down dip where it remains open. The bonanza high-grade, near surface mineralisation will enhance the open cut development potential of the deposit while the deeper mineralisation will enhance the underground potential.”

The current RC drilling program at Break of Day is approximately 60% complete and consists of more than 36 holes for around 7,000 metres.

After flying as much as 93.33% higher in early trade, the Musgrave Minerals share price is currently sitting 53.33% higher for the day at 23 cents per share. This takes its market capitalisation at the time of writing to around $106 million.

More reading

• 3 emerging trends in ASX resources shares

Motley Fool contributor Cathryn Goh has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The post Why the Musgrave Minerals share price has skyrocketed 93% today appeared first on Motley Fool Australia.

from Motley Fool Australia https://ift.tt/3009QZq