Tag: Motley Fool Australia

The Qantas Airways Limited (ASX: QAN) share price has been a positive performer on Thursday.

In afternoon trade the airline operator’s shares are up 1.5% to $3.72.

Is the Qantas share price in the buy zone?

While I do see value in Qantas shares at the current level, the recent spike in coronavirus cases in Victoria has increased uncertainty materially.

In light of this, I would class its shares as a hold at this point and suggest investors wait for trading conditions to improve before investing.

One broker that is also sitting on the fence is Goldman Sachs. This morning the broker retained its neutral rating and lifted its price target to $3.82.

What did Goldman Sachs say about Qantas?

Goldman Sachs is confident that Qantas will remain the dominant airline on the other side of the pandemic and expects its profitability to eventually return to previous levels.

Its analysts commented: “We can have a reasonable degree of confidence the airline and its profitability will return to pre-Covid levels at some point in the future when the market has settled; however we have very limited certainty that this can and will be achieved over a medium-term (2-3 year) time horizon.”

It also notes that the near term is full of uncertainty. Goldman commented: “The near-term market size is highly uncertain, with long-haul international markets likely to remain effectively closed and the trans-Tasman and domestic aviation markets constrained by quarantine restrictions.”

The broker acknowledges that a recovery in domestic activity could underpin a substantial earnings recovery. It estimates that Qantas’ domestic services (both Qantas and Jetstar) represented ~55% of calendar year 2019 earnings before interest and tax.

However, it has concerns over the recent spike in inspections. Noting that a coronavirus spike “on the east coast golden triangle routes mean that a fluid resumption of air travel is unlikely in the near term.”

In light of this uncertainty, it holds firm with its neutral rating.

One travel and tourism share that it does like is Sydney Airport Holdings Pty Ltd (ASX: SYD). This morning it retained its buy rating and put a $6.73 price target on the airport operator’s shares.

More reading

• 4 trends to invest in before August earnings season
• Top brokers name 3 ASX 200 shares to buy today
• Should infrastructure be part of your investment strategy?
• 4 exciting ASX biotech shares surging higher today
• Market close: ASX 200 falls 0.5%

Motley Fool contributor James Mickleboro 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.

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The DroneShield Ltd (ASX: DRO) share price has surged 25% today after the company announced a contract with the United States Air Force.

DroneShield awarded US Air Force contract

Earlier today, DroneShield released an announcement informing the market the company has been awarded a contract with the United States Air Force worth approximately US$200,000. Under the contract, DroneShield will supply multiple units of its ‘DroneSentry’ integrated detect-and-defeat systems to the Grand Forks Air Force base in North Dakota, US. According to the company, its DroneSentry technology was chosen because of its artificial intelligence software and tracking/defeat automation.

The contract marks DroneShield’s first US Air Force deployment and allows for additional units to be ordered after the original contract is fulfilled. DroneShield’s management expressed the strategic significance of the contract that will provide the company with the opportunity to expand its solutions in the key market.

How has the DroneShield share price performed?

DroneShield is an Australian based company that specialises in drone security technology. The company’s security solutions are designed to protect people and critical infrastructure from intrusions by drones. DroneShield built its hardware and software from the ground up and has an extensive pipeline of solutions. The announcement of DroneShield’s contract with the US Air Force follows the company’s quarterly report which was released yesterday.

DroneShield provided an update on its activities for the fourth quarter of FY20. This was highlighted by the company finishing the quarter cashflow-positive, with cash inflows of $2.1 million. As a result, the company recorded its first ever quarter in which operating cashflows were approximately breakeven.

DroneShield highlighted a substantial increase in US government business, with the company also working towards a formal contract in the Middle-East. DroneShield also noted the impact of COVID-19 on its operations, with the pandemic interrupting the company’s operations and logistics. 

At the time of writing, investors have driven the DroneShield share price 25% higher for the day, with the company’s shares currently trading at 15 cents.

More reading

• 3 ASX growth shares that could be long term market beaters
• Buy and hold Cochlear and these ASX shares for strong long term returns
• Are ASX 200 shares about to take off on another bull run?
• Why the Cogstate share price soared 78% higher today
• What to do if your ASX shares hit a record high

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. 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.

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Are you looking to add a few growth shares to your portfolio? Then you might want to consider buying the three ASX shares listed below.

I believe all three have the potential to grow very strongly over the next decade and could provide strong returns for investors.

Here’s why I would buy these ASX growth shares:

a2 Milk Company Ltd (ASX: A2M)

The first ASX growth share to consider buying is a2 Milk Company. I continue to believe that the infant formula and fresh milk company can grow materially in the future and drive strong returns for investors. This is due to the increasing demand for its infant formula in China and its relatively modest market share in the lucrative market. This should be supported by the expansion of its fresh milk footprint and potential earnings accretive acquisitions.

Kogan.com Ltd (ASX: KGN)

Another ASX growth share to consider buying is Kogan. Although this ecommerce company’s shares have been on fire over the last few months thanks to a spike in sales and customer numbers during the pandemic, I don’t believe it is too late to invest. I believe Kogan is well-placed to continue its strong growth over the next decade thanks to the growing popularity of its website, more spending online, and its acquisition plans.

Pushpay Holdings Group Ltd (ASX: PPH)

A final ASX growth share to look at buying is Pushpay. It is a fast-growing donor management platform provider for the faith and not-for-profit sectors. After smashing expectations in FY 2020, Pushpay has provided guidance for more strong growth in FY 2021. Pleasingly, its strong growth looks unlikely to end there. Management is targeting a 50% share of the medium to large church market in the future. This represents a US$1 billion opportunity and is many multiples of its current revenue.

More reading

• What to do if your ASX shares hit a record high
• 4 trends to invest in before August earnings season
• Analysis: Is the A2 Milk share price a buy before August?
• Got $1,000? You should buy 1 of these 6 ASX shares
• How you can take advantage of the surging Australian dollar

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There are a number of investment strategies for investors to choose from, but my favourite remains buy and hold investing.

It is one of the simplest investment strategies and sees investors buy high quality shares that have solid long term outlooks. They then hold onto these shares for long periods of time (unless the investment thesis breaks) and let the power of compounding work its magic.

With that in mind, here are three quality ASX shares that I think would be great buy and hold options:

Cochlear Limited (ASX: COH)

Cochlear is a global developer, manufacturer, and distributor of cochlear implantable devices for the hearing impaired. I think Cochlear would be a great buy and hold option due to the ageing populations tailwind. The World Health Organization estimates that there will be almost three times more people over the age of 65 by 2050 than there were in 2010. As hearing fades as we age, I expect this to lead to demand for its industry-leading cochlear implantable devices growing strongly over the next three decades.

IDP Education Ltd (ASX: IEL)

I think it would be worth buying and holding IDP Education shares. It is a provider of international student placement services and English language testing services. I’ve been very impressed at the way the company has been performing over the last few years and expect more of the same over the next decade once the pandemic passes and the industry returns to normal.

SEEK Limited (ASX: SEK)

I think that SEEK could be a fantastic buy and hold investment option. I’m very positive on the job listings company’s long term outlook due to the strength of its core ANZ business and the growth potential of its international operations. This is particularly the case with its China-based Zhaopin business. Given its strong position in a massive market, I believe Zhaopin has the potential to underpin strong earnings growth over the next decade.

More reading

• Vocus and 1 other top quality ASX share to buy right now
• Why Mesoblast might be the best ASX healthcare growth share to own right now
• What you need to know about Downer’s share price, $400m cap raise and acquisition
• Is the SEEK share price in the buy zone?
• 5 things to watch on the ASX 200 on Monday

James Mickleboro owns shares of SEEK Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Cochlear Ltd. and Idp Education Pty Ltd. The Motley Fool Australia has recommended Cochlear Ltd. and SEEK Limited. 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.

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The S&P/ASX 200 Index (ASX: XJO) is having a pretty ho-hum kind of day. At the time of writing, it is essentially flat at 6,087 points.

We seem to have struck both a floor and a ceiling for investor sentiment. The ASX 200 has been playing jump rope with the 6,000 point threshold for nearly 2 months now – since it (for the first time since March) hit the psychologically-important milestone in early June. We still remain around 15% off of the pre-crash highs we were seeing back in February.

But reporting in yesterday’s Australian Financial Review (AFR) reckons we might be about to take off on another ASX 200 bull run. Why? Because the federal government has just cleared a massive cloud of uncertainty that might have been holding the markets back.

On Monday, the government announced that its supportive JobKeeper and coronavirus supplement payments are to be extended. JobKeeper will continue on until at least 28 March 2021 (albeit at a lower rate that will come in 2 tiers). Meanwhile, the coronavirus supplement that most other welfare recipients (including those on JobSeeker or Youth Allowance) are receiving will be trimmed to $250 per fortnight come September, down from the current $550.

What does this mean for ASX 200 shares?

The economy is not well right now. Nearly a million Australians are unemployed and it’s these government payments that are holding the economic fort. So up until Sunday, ASX 200 investors and businesses were fearing a ‘fiscal cliff’ in September. This is when the extra payments were due to expire — creating a lot of uncertainty in the markets.

Now that we have the certainty of knowing these payments will be extended and tailored, the AFR is predicting “institutional investors [will] start deploying the cash sitting idle because of uncertainty”.

However, the AFR also notes this may not be a good thing for ASX 200 shares in the long term, pointing to what it sees as “signs of a bubble in certain parts of the market”.

It quotes the legendary investor Warren Buffett:

“Once a bull market gets underway, and once you reach the point where everybody has made money no matter what system he or she followed, a crowd is attracted into the game that is responding not to interest rates and profits but simply to the fact that it seems a mistake to be out of stocks. In effect, these people superimpose an ‘I-can’t-miss-the-party’ factor on top of the fundamental factors that drive the market.”

Pertinent words indeed from Mr Buffett.

Foolish takeaway

I think the AFR makes some cutting insights here. I do think it’s possible that the markets will push higher from here. But remember, the economy is still very damaged, and the government can’t prop it up forever. Keeping this in mind over the next year or two would be advantageous for all investors in my view.

More reading

• Warning: Investors are betting against these 3 ASX shares
• Why the Santos share price is back on my radar
• 5 things to watch on the ASX 200 on Thursday
• ASX 200 drops 1.3%, Resolute Mining soars
• Top brokers list the latest ASX small cap stocks to buy today

Motley Fool contributor Sebastian Bowen 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.

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The Cogstate Limited (ASX: CGS) share price ripped more than 78% higher in early trade after the company released its quarterly cash flow statement and business update. It has since been sold down and is currently trading 30.95% higher at 55 cents per share.

What did Cogstate announce?

The company’s report was highlighted by a record high in sales contracts, with Cogstate executing $8.4 million in clinical trial sales contract for the quarter ending 30 June 2020. As a result, the company has completed $46 million in sales contracts for the year, making FY20 its most successful financial year.

Cogstate expects the substantial increase in clinical trial sales contracts to result in increased revenue for the quarter. The company also reported a cash positive quarter, with cash reserves totalling $10.6 million, an increase of $3.3 million during the period.

In addition to its cash flow statement for the quarter, Cogstate also provided the market with a business update regarding its partnership with ERT. According to the update, Cogstate has entered into a preferred partnership with ERT, which is a global leader in clinical endpoint data collection. The partnership will see the company deliver cognitive assessments via ERT’s technology platform, providing Cogstate with the potential to significantly expand its distribution channel.  

What does Cogstate do?

Cogstate is a neuroscience technology company that specialises in brain health assessments, with the aim of advancing development of new medicines and clinical insights. The company’s technologies allow for rapid and reliable computerised cognitive tests, which are designed to replace traditional costly and error-prone paper assessments.

The company’s clinical trial solutions provide quality assurance services that streamline the measurement of clinical outcomes, whilst also eliminating the need for duplicate hardware.

Foolish takeaway

The Cogstate share price was trading around 78% higher in early trade, hitting an intra-day high of 80 cents. Since then the company’s share price has been sold-down and is currently trading around 30% higher at 55 cents.

More reading

• DroneShield share price surges 25% on US Air Force contract
• 3 ASX growth shares that could be long term market beaters
• Buy and hold Cochlear and these ASX shares for strong long term returns
• Are ASX 200 shares about to take off on another bull run?
• What to do if your ASX shares hit a record high

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. 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 Cogstate share price soared 78% higher today appeared first on Motley Fool Australia.

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The S&P/ASX 200 Index (ASX: XJO) has been on a tear in recent months. Since bottoming out on 23 March, the ASX 200 has gained more than 33% and is now sitting firmly above 6,000 points.

With all of this good news, there are bound to be some shares that have been performing better than others. And despite the questionable health of both the Australian and global economies right now, many ASX shares have reached all-time record highs in recent weeks.

Some of the lucky bunch include Fortescue Metals Group Limited (ASX: FMG), Afterpay Ltd (ASX: APT), Zip Co Ltd (ASX: Z1P), Xero Limited (ASX: XRO) and Kogan.com Ltd (ASX: KGN).

If you’ve been lucky enough to hold one (or more) of these shares, well firstly congratulations! It’s always a cause for celebration when you have a real winner like any one of these top companies.

But I’m sure many investors holding these shares might be a little conflicted about what to do next, given they likely have some (perhaps substantial) profits sitting on the table.

When should you sell a winner ASX share?

Well, that’s a very personal question. The first thing to say is that if you have supreme confidence that your company is a true winner and will keep winning for you in the years ahead, there is no reason to sell! Picture someone who bought CSL Limited (ASX: CSL) shares 10 years ago for around $30. If that person sold them when the share price hit $50, just to cash in a quick gain, I’m sure they would be ruing the decision today given CSL shares are currently going for around $282. After all, the great investor Warren Buffett is famous for saying his favourite time to sell shares is ‘never’.

But this doesn’t apply in all cases, of course. So if you bought into Afterpay, Xero or any other ASX share on a quick bet or a speculative play, it might be time to cash out if you’ve got some handsome profits on the table. Finding real and consistent winners usually involves a lot of research and dedication. If this isn’t your ‘jam’, then it might be time to recognise you bought a lottery ticket and got lucky.

But even if you did buy a wining share for a long-term investment, after doing your due diligence, there still might be a good cause for a sell. Your company’s shares might have become overvalued. You might not be impressed with how the company raised capital during the pandemic, or otherwise be dissatisfied with the direction they are taking the company.

Foolish takeaway

At the end of the day, a sell decision is yours alone and there is no way of knowing whether you made the right call until hindsight comes along. I always ask myself this question before executing a buy or sell order: ‘is it me or the person on the other end of the deal who might regret this in 5 years’ time?’.

More reading

• 3 ASX growth shares that could be long term market beaters
• Why the Zip share price is a better buy than Afterpay
• 4 trends to invest in before August earnings season
• Warning: Investors are betting against these 3 ASX shares
• How you can take advantage of the surging Australian dollar

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 CSL Ltd., Kogan.com ltd, Xero, and ZIPCOLTD FPO. The Motley Fool Australia owns shares of AFTERPAY T FPO. The Motley Fool Australia has recommended Kogan.com 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.

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On Wednesday I looked at three ASX shares that brokers have given buy ratings to this week.

Unfortunately, not all shares are in favour with them right now. Three ASX shares that have just been given sell ratings by brokers are listed below.

Here’s why these brokers are bearish on them:

OZ Minerals Limited (ASX: OZL)

According to a note out of Credit Suisse, its analysts have retained their underperform rating but lifted the price target on this copper producer’s shares to $9.00. Although the broker notes that Oz Minerals had a strong second quarter and has lifted its estimates to reflect this, it isn’t enough for a change of rating. Credit Suisse continues to believe its shares are overvalued. The OZ Minerals share price is trading at $13.81 this afternoon.

QBE Insurance Group Ltd (ASX: QBE)

A note out of the Macquarie equities desk reveals that its analysts have downgraded this insurance giant’s shares to an underperform rating with an improved price target of $8.20. Macquarie has revised its earnings estimates lower to reflect QBE’s latest update. In addition to this, it continues to believe that a sweeping review of its business is required to get it back on track. The QBE share price is up at $10.16 on Thursday.

Tyro Payments Ltd (ASX: TYR)

Another note out of the Macquarie equities desk reveals that its analysts have an underperform rating and $2.65 price target on this payments company’s shares. According to the note, the broker believes Tyro’s recovery is at risk from a second wave of coronavirus. Furthermore, it fears that a lot of its total transaction value may be coming from low margin channels. As a result, it has concerns that its full year results could disappoint. The Tyro share price is changing hands for $3.74 this afternoon.

More reading

• Why Coca-Cola Amatil, Newcrest, QBE, & Tabcorp shares are pushing higher
• Oz Minerals share price rises 4% on quarterly report
• The ASX sector that’s heading for a V-shape recovery
• QBE share price rises despite expected half year loss
• 3 ASX fintech shares with exciting growth prospects

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The Evolution Mining Ltd (ASX: EVN) share price is down 2.5% today despite reporting a record cash flow in the June quarter. The gold miner produced 218,104 ounces (oz) of gold across its mines during the quarter leading to full year production of 746,463 oz. 

About Evolution Mining

Evolution Mining is an Australian gold producer operating five wholly owned mines. Four gold mines are located in Australia across Queensland, Western Australia, and New South Wales. The Red Lake mine is located in Canada. Evolution Mining also has an interest in a copper-gold mine in Queensland. 

What did Evolution Mining announce? 

Evolution Mining released its June quarterly results this morning which showed production of 218,104 oz of gold for the quarter. The company sold 218,685 oz of gold at an average price of $2,500 per oz during the quarter. The company also produced 233,252 oz of silver in 4Q FY20 and 6,684 tonnes of copper. FY20 gold production was 746,463 oz at an all-in sustaining cost of $1,043 per oz, above guidance of 715,000 oz. 

In the June quarter, mine operating cash flow increased 39% quarter-on-quarter to $352 million, while free cash flow increased 69% to $188 million. Over FY20, mine operating cash flow increased 45% year-on-year to $1,121 million and free cash flow increased 86% to $524 million. Cash in the bank increased by $205 million during the June quarter to $374 million. Net bank debt decreased to $196 million. 

How has the Evolution share price been performing? 

The Evolution share price is up 67% over 2020 and 87% from its March low. The rising share price has been aided by the increasing price of gold. The gold price has increased from around $2200 per ounce in January to closer to $2600 per ounce now. Other gold miners have seen similar share price rises as a result. The Silver Lake Resources Limited (ASX: SLR) share price is up 92% over 2020 and the Saracen Mineral Holdings Limited (ASX: SAR) share price is up 86%. 

What’s next for the Evolution share price? 

Evolution Mining is progressing the transformation of the Red Lake mine, with progress ahead of schedule. The company has advised that the scale of opportunity at Red Lake is far greater than expected. The group has an average reserve life of over 10 years and had exploration success in FY20 at a number of sites. 

More reading

• 5 things to watch on the ASX 200 on Thursday
• 5 things to watch on the ASX 200 on Wednesday
• Saracen share price on watch as production guidance exceeded
• 5 things to watch on the ASX 200 on Tuesday
• ASX 200 Weekly Wrap: Blue chip shares pull ASX 200 back over 6,000 points

Motley Fool contributor Kate O’Brien 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.

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On Thursday, the Helloworld Travel Ltd (ASX: HLO) share price plunged by more than 8% following a business update by the company. At the time of writing, the Helloworld share price has lifted slightly to $1.92 per share, down 6.55% on yesterday’s close.

What was in the announcement

Today, Helloworld reported that it is going ahead with its previously announced capital raising. The offer opened to retail shareholders today with 1 for 9 shares offered at a price of $1.65 per share. Shareholders also had the option to apply for additional shares under the offer.

The company previously raised $41.6 million from institutional investors and plans to raise $8.4 million from retail shareholders to reach a total of $50 million. The funds will be used to provide liquidity and to improve balance sheet flexibility, as the company faces prolonged disruption to the travel industry in the midst of the ongoing coronavirus pandemic. 

The company advised it expects travel restrictions to remain in place for the remainder of 2020 and into 2021. As a result, total transaction value remained at around 10-12% of previous levels. According to the announcement, Helloworld’s equity raising would help to fund operating and capital expenditure through to the end of 2022, assuming ongoing disruption to the travel industry.

The company announced that net cash operating costs had been reduced to around $2 million per month since late March 2020, with variable discretionary spending being reduced to near zero since April 2020. It announced that cost reductions would be sustained over the remainder of 2020 with cost reductions from landlords and suppliers included.

Helloworld also notified investors that the company would write down its intangible assets and record restructuring-related provisions in its financial year 2020 results. 

The company announced that it has closed its centres in Mumbai and Manila and is also divesting its US wholesale operation. Helloworld also reported that 5% of its franchisees had elected to close. 

In terms of remuneration, 2 of Helloworld’s executive directors and 3 non-executive directors reduced their remuneration to zero from late March until June 2020. The company’s senior management have reduced remuneration to 60% of previous remuneration. The company has accessed government wage subsidies for 1,200 employees.

Helloworld expects an earnings before interest tax depreciation and amortisation loss of around $3.5 million for the June quarter, unaudited. The company advised it has a pro forma liquidity position after its capital raising of $187.1 million at 30 June 2020.

About the Helloworld share price

Helloworld is a travel agency company with operations Australia and New Zealand. The company has retail travel networks and provides corporate travel management, destination management, air ticket consolidation, wholesale travel services and online operations.

The Helloworld share price is up 185% from its 52-week low of $0.66 cents. It is down 60.7% since the beginning of the year and down 60.8% since this time last year.

More reading

• Leading brokers name 3 ASX shares to buy today
• Why Cann, Flight Centre, Helloworld, & Zip shares are dropping lower
• Helloworld Travel unveils $50 million capital raising

Motley Fool contributor Chris Chitty has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Helloworld Limited. 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.

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