Tag: Motley Fool

  • Why is the Sayona Mining share price crumbling 8% on Friday?

    A man sits wide-eyed at a desk with a laptop open and holds one hand to his forehead with an extremely worried look on his face as he reads news of the Bitcoin price falling today on his mobile phoneA man sits wide-eyed at a desk with a laptop open and holds one hand to his forehead with an extremely worried look on his face as he reads news of the Bitcoin price falling today on his mobile phone

    The Sayona Mining Ltd (ASX: SYA) share price is tanking on Friday despite no news having been released by the company.

    Stock in the mineral explorer and developer is currently trading at 25.75 cents apiece, 8.04% lower than its previous close.

    In comparison, the All Ordinaries Index (ASX: XAO) has lifted slightly, up 0.02% at the time of writing.

    So, what might be weighing on the ASX lithium hopeful? Let’s take a look.

    What’s going wrong for the Sayona Mining share price?

    The Sayona Mining share price is plummeting today despite the company’s silence. In fact, the market hasn’t received word from the mineral stock in close to a month.

    The last time the company released price-sensitive news was on 4 August. Then, it provided an update on the planned restart of its North American Lithium operation.

    However, there is one situation that might explain the Sayona Mining share price’s poor performance today. That is the poor performance of many of its peers.

    The S&P/ASX 200 Materials Index (ASX: XMJ) is the ASX 200’s worst performing sector right now. It’s being dragged down amid concerns around a major lockdown and falling factory activity in China.

    And lithium shares are, in turn, the sector’s biggest weight.

    The Mineral Resources Limited (ASX: MIN) share price is leading its downfall, tumbling 5.3%. Shares in Core Lithium Ltd (ASX: CXO), Liontown Resources Limited (ASX: LTR), and Lake Resources NL (ASX: LKE) aren’t far behind, falling between 4.4% and 5.1%.

    While Sayona Mining isn’t a part of the ASX 200, its stock might be being influenced by the sell-off among its peers on the index.

    Its shares are also falling alongside those of Piedmont Lithium Inc (ASX: PLL). The Piedmont Lithium share price has tumbled 4.5% at the time of writing after the company announced plans to build a second lithium hydroxide processing plant this morning.

    Luckily, the Sayona Mining share price still has plenty of wiggle room. It is currently trading around 78% higher than it was at the start of 2022.

    In comparison, the All Ords has slipped 11% year to date.

    The post Why is the Sayona Mining share price crumbling 8% on Friday? appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Sayona Mining Limited right now?

    Before you consider Sayona Mining Limited, you’ll want to hear this.

    Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Sayona Mining Limited wasn’t one of them.

    The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

    See The 5 Stocks
    *Returns as of August 4 2022

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    Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. 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 Scott Phillips.

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  • Should investors be buying the dip in ASX 200 shares right now?

    A man sits nervously at his computer with his mouth resting against his hands clasped in front of him as he stares at the screen of his computer on a home desk.

    A man sits nervously at his computer with his mouth resting against his hands clasped in front of him as he stares at the screen of his computer on a home desk.

    Today’s rather impotent 0.06% gain for the S&P/ASX 200 Index (ASX: XJO) so far to just under 6,850 points will do little to erase the painful memories of this trading week. Even after these moves, the ASX 200 remains a nasty 3.6% down from where it was at last Friday’s close.

    In fact, at today’s levels, the ASX 200 has now slumped almost 4% since mid-August. The index remains almost 10% off of where it was back in mid-April and down 8.5% year to date in 2022 thus far.

    This might be viewed as an attractive situation by many value investors, though. As the old maxims go, investors should be looking to buy the dip or ‘buy low, sell high’.

    But is this the right course of action for ASX 200 shares?

    Is it time to buy the dip in ASX 200 shares?

    Well, yes. That’s according to one fund manager anyway.

    As reported in the Australian Financial Review (AFR) today, Fundstrat Global technical strategist Mark Newton is seeing potential in the United States markets right now.

    He stated the following on how he is viewing the current market:

    While many might feel entering a seasonally bearish month like September makes buying dips risky, I’m expecting that the next week or two could actually help [S&P 500] recoup at least half or more of the recent damage since 8/16…

    The already bearish sentiment is growing more negative at a time when markets have entered an important area of price/time support, which can help this pullback to reverse course… Buying this dip looks correct.

    So that’s certainly an optimistic view on the US markets right now. But what about ASX shares? After all, most Aussies are invested in the likes of BHP Group Ltd (ASX: BHP) and Commonwealth Bank of Australia (ASX: CBA) over US shares like Apple Inc (NASDAQ: AAPL) and Microsoft Corporation (NASDAQ: MSFT).

    Well, the US markets are not the ASX 200. But, as we’ve covered in the past, the two markets have an extremely high level of correlation, So if the US markets indeed rebound going forward, it wouldn’t surprise too many commentators to see the ASX 200 follow suit, at least to some degree.

    So that’s one outlook on the immediate future of the US markets and by possible extension, ASX 200 shares. No doubt investors, value investors in particular, might react with enthusiasm. But we shall have to see what happens.

    At present, the ASX 200 Index is down a nasty 8.5% year to date in 2022.

    The post Should investors be buying the dip in ASX 200 shares right now? appeared first on The Motley Fool Australia.

    Wondering where you should invest $1,000 right now?

    When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.* Scott just revealed what he believes could be the “five best ASX stocks” for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now

    See The 5 Stocks
    *Returns as of August 4 2022

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    Motley Fool contributor Sebastian Bowen has positions in Apple and Microsoft. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Apple and Microsoft. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended the following options: long March 2023 $120 calls on Apple and short March 2023 $130 calls on Apple. The Motley Fool Australia has recommended Apple. 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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  • 27% of ASX 200 shares cut dividends during earnings season. What’s next?

    A man and a woman sit in front of a laptop looking fascinated and captivated.

    A man and a woman sit in front of a laptop looking fascinated and captivated.

    The majority of S&P/ASX 200 Index (ASX: XJO) shares announced dividends during the earnings season just gone by.

    Yet 27.4% of ASX 200 shares cut their dividend payouts compared to the prior corresponding period.

    Here’s the breakdown.

    84% of ASX 200 stocks issued a dividend

    According to data from CommSec, the ASX 200 shares that reported their full year or half-year results will pay out dividends of $42.3 billion.

    While that’s a tidy sum, it’s still down 1.7% year on year.

    And while 111, or 84%, of ASX 200 companies that reported declared a dividend, 27.4% of those cut their payouts from a year earlier, while 61% boosted their payouts. And 11.5% of the companies paid out the same amount as the prior year.

    In aggregate (summing the dividends per share), dividends during this earnings season fell by 6%.

    What’s next?

    Addressing the payouts of ASX dividends on a quarterly basis, Jane Shoemake, client portfolio manager on the global equity income team at Janus Henderson, said:

    The second quarter marks a seasonally quieter period for Australian dividends, with local payouts growing by 13.2% in US dollar terms. Our index of Australian dividends is now 14.7% above its pre-pandemic level in December 2019.

    The main driver of Australia’s surging payouts continues to be the mining industry, which has benefitted from surging commodity prices.

    Looking ahead, Matt Gaden, head of Australia at Janus Henderson, sounded some words of caution:

    We would caution investors that local payouts are unlikely to maintain their post-COVID strength. This is particularly important given the relatively high concentration of Australian dividend payers being banks and miners, calling for greater sectoral and geographical diversification from income investors holding the stocks of only a small number Australian companies.

    Indeed, BHP Group Ltd (ASX: BHP) has become a monster dividend payer among ASX 200 shares amid soaring commodity prices.

    The mining giant reported its earnings results on 16 August and declared a final fully franked dividend of US$1.75 per share. That works out to US$8.9 billion, or AU$13.1 billion at current exchange rates.

    The post 27% of ASX 200 shares cut dividends during earnings season. What’s next? appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Bhp Group right now?

    Before you consider Bhp Group, you’ll want to hear this.

    Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Bhp Group wasn’t one of them.

    The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

    See The 5 Stocks
    *Returns as of August 4 2022

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    Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. 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 Scott Phillips.

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  • It’s a cloudy day on the ASX, but some All Ords shares are still shining brightly

    Five people are leaping in the shallows of the beach water as sunset shines gold on them.Five people are leaping in the shallows of the beach water as sunset shines gold on them.

    The All Ordinaries Index (ASX: XAO) is limping towards the weekend, wobbling in and out of the green on Friday. But while the index struggles to gain traction, some ASX All Ords shares are posting notable gains.

    Right now, the All Ords is down 0.04%. Meanwhile, its top performing constituents are boasting gains as high as 11.3%.

    Let’s take a look at some of the All Ords shares outperforming on Friday.

    These All Ords shares are defying the ASX’s downturn

    It’s been a rough week on the market. Indeed, the benchmark index is on track to finish the week 3.7% lower than it closed last week’s trade. But it’s not all doom and gloom. Plenty of All Ords shares are boasting notable gains on Friday.

    The index is currently being led by three shares, each operating in vastly different spaces.

    Oil and gas explorer Carnarvon Energy Ltd (ASX: CVN) is in the lead, posting a 11.3% gain to trade at 16.7 cents. It’s joined in the All Ords top three performers by minerals explorer and developer 5E Advanced Materials Inc (ASX: 5EA) – up 7.5% to $2.28 – despite the prices of both oil and major commodities falling overnight.

    The Cettire Ltd (ASX: CTT) share price is also posting a decent performance, lifting 7.9% to trade at 75 cents. That’s despite no news having been released by the online luxury goods retailer.

    Many larger ASX All Ords shares are also putting on a strong performance today.

    The Macquarie Group Ltd (ASX: MQG) share price, for one, is lifting 2% right now. Meanwhile, shares in Clinuvel Pharmaceuticals Limited (ASX: CUV) are up 3.9%.

    Finally, tech favourite and ASX constituent Life360 Inc (ASX: 360) is also well and truly in the green, having lifted 6.4% at the time of writing.

    The post It’s a cloudy day on the ASX, but some All Ords shares are still shining brightly appeared first on The Motley Fool Australia.

    Wondering where you should invest $1,000 right now?

    When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.* Scott just revealed what he believes could be the “five best ASX stocks” for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now

    See The 5 Stocks
    *Returns as of August 4 2022

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    Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Cettire Limited and Life360, Inc. The Motley Fool Australia has recommended Cettire Limited and Macquarie Group Limited. 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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  • Why is the Woodside share price sliding this week?

    A woman with black afro hair and wearing a white t-shirt shrugs and purses her lipsA woman with black afro hair and wearing a white t-shirt shrugs and purses her lips

    The Woodside Energy Group Ltd (ASX: WDS) share price is slightly up on Friday at $33.60, up 0.39%.

    That’s a small rise into the green for the energy giant from yesterday’s close and a 48% climb this year to date. But the past week has been rough. Woodside shares are currently down 4.4%.

    Meanwhile, the S&P/ASX 200 Energy Index (ASX: XEJ) is also up a little to 10,782 points, an 0.25% uptick.

    What’s up with the Woodside share price?

    Following the release of the energy giant’s FY22 earnings, investors have continued their support for the share.

    For the 12 months to June 2022, Woodside recognised net profit after tax (NPAT) of US$1.82 billion, up 414% year on year.

    Free cash flow – the lifeblood of any business – increased by nearly 670% in the same time to US$2.57 billion.

    As a result, shareholders are set to enjoy a US$1.09 per share interim dividend. That’s triple the interim dividend of FY21.

    Underscoring the growth last financial year was a surge in the price of energy commodities back to multi-year highs.

    Brent Crude oil peaked at US$123 per barrel in March, its highest level since 2011.

    Meanwhile, natural gas followed suit and thrust its way to multi-year highs as well, setting the stage for Woodside to capture this upside in both markets.

    Brent Crude oil has since pulled back to range, however natural gas continues to surge back past decade-long highs, as seen on the chart below with Woodside.

    TradingView Chart

    As a result, traders have remained bullish on the Woodside share price.

    It remains up more than 70% in the past 12 months.

    The post Why is the Woodside share price sliding this week? appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Woodside Petroleum Ltd right now?

    Before you consider Woodside Petroleum Ltd, you’ll want to hear this.

    Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Woodside Petroleum Ltd wasn’t one of them.

    The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

    See The 5 Stocks
    *Returns as of August 4 2022

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    Motley Fool contributor Zach Bristow has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. 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 Scott Phillips.

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  • Keen to bag the latest NIB dividend? Time is running out

    A woman has a thoughtful look on her face as she studies a fan of Australian 20 dollar bills she is holding on one hand while he rest her other hand on her chin in thought.A woman has a thoughtful look on her face as she studies a fan of Australian 20 dollar bills she is holding on one hand while he rest her other hand on her chin in thought.

    It’s been a rather sad end to the trading week for the NIB Holdings Limited (ASX: NHF) share price so far this Friday. At the time of writing, NIB shares have endured a 0.99% drop to $8 a share.

    That stands in contrast to the broader S&P/ASX 200 Index (ASX: XJO). The ASX 200 has currently banked a tentative gain of 0.08% to around 6,850 points.

    It’s unclear what is causing investors to have some trepidation about NIB shares as we end the trading week today. But there’s one thing we know for sure. The NIB share price is set for another tough day next Monday.

    How can we know this? Well, that’s when NIB is scheduled to trade ex-dividend for its upcoming final dividend payment.

    The NIB dividend is coming, but you’ll have to be quick

    NIB announced its full-year earnings report for FY22 last month. At the time, the health insurance giant declared a final dividend of 11 cents per share, fully franked. This was a 21.4% decline from the final dividend of 14 cents per share that the company paid out last year for FY21.

    It will take NIB’s full-year dividends for FY22 to 22 cents per share. That follows April’s interim dividend that was also worth 11 cents per share.

    Again, that’s a drop from FY21’s total of 24 cents per share.

    But if investors want to receive this dividend, they will have to act quickly. Monday’s ex-dividend date means that today is the last day an investor can buy NIB shares to become eligible for this upcoming dividend. From Monday, new shareholders will be cut off.

    This is why we are almost certainly set to see NIB shares go backwards during Monday’s session. No new investors will be eligible for the final dividend come Monday. As such, the value of this dividend will leave the NIB share price. That’s what normally happens when an ASX share goes ex-dividend.

    Investors (or those eligible, anyway) will then have to wait until 4 October to see the dividend hit their bank accounts. NIB is offering shareholders the option of participating in the company’s dividend reinvestment plan (DRP) though.

    So if any investors wish to receive new NIB shares in lieu of cash, they have until 7 September to make this known to the company.

    At the current NIB share price, this ASX 200 insurance share has a market capitalisation of $3.67 billion, with a dividend yield of 2.75%.

    The post Keen to bag the latest NIB dividend? Time is running out appeared first on The Motley Fool Australia.

    Wondering where you should invest $1,000 right now?

    When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.* Scott just revealed what he believes could be the “five best ASX stocks” for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now

    See The 5 Stocks
    *Returns as of August 4 2022

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    Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended NIB Holdings Limited. 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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  • Why is the Strike Energy share price tanking 10% today?

    A young woman slumped in her chair while looking at her laptopA young woman slumped in her chair while looking at her laptop

    The Strike Energy Ltd (ASX: STX) share price has come out of a trading halt to nosedive today.

    At the time of writing, the energy producer’s shares are down 10.18% to a near two-month low of 24.7 cents.

    What’s driving Strike Energy shares lower?

    The tanking of the Strike Energy share price follows the company’s announcement that it has successfully completed a capital raise.

    Investors may be concerned about the impending share dilution, which might be causing the sell-off.

    In its release, Strike Energy advised it has received binding commitments to raise $30 million from an array of investors. This includes local and international institutional, professional, and sophisticated investors.

    Strike Energy will issue approximately 127.66 million new shares at a price of 23.5 cents per share. The offer represents a 14.5% discount to the last closing price of 27.5 cents per share on 31 August.

    The new shares are expected to be issued on 12 September.

    Proceeds of the placement will be allocated towards a number of the company’s objectives, such as:

    • The Mid West Low Carbon Manufacturing Precinct freehold land ($7.7 million)
    • Project Haber and South Erregulla drilling ($17 million)
    • General working capital and corporate purposes.

    Strike Energy managing director and CEO, Stuart Nicholls commented:

    This timely capital injection allows Strike to accelerate the momentum at its transformational Project Haber fertiliser development whilst the pre-FID financing processes move towards conclusion.

    The timing of this additional capital also provides resilience to the balance sheet during the construction and commissioning of the Company’s first gas field development at Walyering.

    These two projects are imperatives for Strike to provide both the fastest path to free cashflow and to maximise the value of the company’s enormous natural gas endowment via the long-term value of Haber.

    Strike Energy share price snapshot

    Strike Energy shares are down 6% over the past 12 months.

    However, year-to-date its shares are up 11%.

    Strike Energy commands a market capitalisation of roughly $565.61 million, with approximately 2.06 billion shares on issue.

    The post Why is the Strike Energy share price tanking 10% today? appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Strike Energy Limited right now?

    Before you consider Strike Energy Limited, you’ll want to hear this.

    Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Strike Energy Limited wasn’t one of them.

    The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

    See The 5 Stocks
    *Returns as of August 4 2022

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    Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. 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 Scott Phillips.

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  • Why is the Coles share price having such a lousy end to the week?

    a man looks a little perplexed as he holds his hand to his head as if thinking about something as he stands in the aisle of a supermarket.

    a man looks a little perplexed as he holds his hand to his head as if thinking about something as he stands in the aisle of a supermarket.It hasn’t been a great end to the trading week so far this Friday for the S&P/ASX 200 Index (ASX: XJO). At the time of writing, the ASX 200 is almost flat, having gained just 0.51% at around 6,850 points.

    But let’s talk about the Coles Group Ltd (ASX: COL) share price.

    Coles shares closed at $17.77 each yesterday. But today, the ASX 200 grocer opened at $17.58 a share. It’s now going for $17.64 at the time of writing. That’s down 0.73% from yesterday’s closing price.

    So why are Coles shares underperforming the market so dramatically today?

    Why is the Coles share price losing to the ASX 200 on Friday?

    Well, it’s due to what is probably the best reason to have a share go down in value – Coles has just traded ex-dividend for its upcoming final dividend payment.

    As we discussed yesterday, Coles declared a final dividend of 30 cents per share, fully franked, during the company’s full-year earnings report for FY22 that was released last month.

    This dividend is a 17.85% rise over FY21’s final dividend of 28 cents per share. It takes the company’s full-year dividends for FY22 to 63 cents per share. That’s a rise of 3.3% over FY21’s total.

    So investors are set to receive this payment later this month on 28 September. But to be eligible to receive the dividend, investors must have held Coles shares as of yesterday’s market close.

    When a company trades ex-dividend, all new investors are cut off for the upcoming dividend payment. As such, we tend to see a share price fall that is more or less commensurate with the value of this dividend on the ex-dividend date.

    This reflects the reality that the value of this dividend payment is now unavailable to newer investors. This makes Coles shares intrinsically less valuable.

    Hence today’s share price drop.

    So while ASX investors might not like Coles’ share price falls today, I’m sure they will appreciate the dividend coming their way in a few weeks. You can’t have one without the other.

    At the current Coles share price, this ASX 200 blue chip share has a market capitalisation of $23.55 billion, with a dividend yield of 3.57%.

    The post Why is the Coles share price having such a lousy end to the week? appeared first on The Motley Fool Australia.

    Wondering where you should invest $1,000 right now?

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    Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has positions in and has recommended COLESGROUP DEF SET. 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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  • Guess which ASX mining share just leapt 33% on a new discovery?

    A male geologist wearing a white hardhat and orange high vis vest talks on a walkie-talkie while staring at a rock showing mineral depositsA male geologist wearing a white hardhat and orange high vis vest talks on a walkie-talkie while staring at a rock showing mineral deposits

    The S&P/ASX 200 Materials Index (ASX: XMJ) is down 1.87% today, but one ASX mining share is surging ahead.

    The Norwest Minerals Ltd (ASX: NWM) share price is currently trading at 8 cents, a 33% gain.

    Let’s take a look at what Norwest reported to the market today.

    New discovery

    Norwest advised it has discovered high-grade copper and gold-bearing quartz veins at the Bali Copper Project.

    The company holds a 100% interest in this project, located 75 kilometres west of Paraburdoo in Western Australia.

    Norwest collected 23 rock chip samples spanning 2.25 kilometres of exposed quartz veins at a location known as Deep South.

    High-grade assays revealed up to 46% copper and 6.7 grams per tonne (g/t) of gold. Assay results on average showed 21% copper and 1.2 g/t of gold.

    Commenting on the news, Norwest CEO Charles Schaus said:

    The discovery of the new copper-gold bearing quartz veins is a very exciting outcome following Norwest’s recent commencement of work at the previously unexplored Deep South area.

    More drilling is taking place at four historical copper prospects along the Bali Shear zone.

    Share price snapshot

    The Norwest Minerals share price has risen 14% in the past year. However, in the past month, this ASX mining share has actually doubled in value.

    For perspective, the ASX 200 materials index has descended nearly 8% in the past year.

    Norwest Minerals has a market capitalisation of about $14.6 million based on the current share price.

    The post Guess which ASX mining share just leapt 33% on a new discovery? appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Norwest Minerals Limited right now?

    Before you consider Norwest Minerals Limited, you’ll want to hear this.

    Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Norwest Minerals Limited wasn’t one of them.

    The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

    See The 5 Stocks
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    Motley Fool contributor Monica O’Shea has no positions in Norwest Minerals Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. 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 Scott Phillips.

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  • Why is the Kogan share price smashing the ASX 200 on Friday?

    A girl lies on her bed in her room while using laptop and listening to headphones.A girl lies on her bed in her room while using laptop and listening to headphones.

    The Kogan.com Ltd (ASX: KGN) share price is outperforming the S&P/ASX 200 Index (ASX: XJO) today.

    At the time of writing, Kogan shares are up 2.6% while the ASX 200 is down by 0.1%.

    It’s normal for there to be volatility and declines on the ASX share market. However, it is interesting that Kogan shares are beating the index today.

    What’s going on?

    The company hasn’t announced any news today. However, there has been a number of interesting things announced by Kogan over the past couple of weeks.

    Investors may be digesting the news that a couple of days ago, the chief financial officer, chief operating officer, and executive director David Shafer bought 150,000 shares on-market at an average price of $3.38.

    It’s interesting when the leadership of a business decides to buy shares. An investment on-market could be a good indication that management believes the Kogan share price is undervalued and that the business has a compelling future, particularly at the current price.

    Kogan isn’t the only e-commerce ASX share that is also up today. The Redbubble Ltd (ASX: RBL) share price is up 5.5% and the Temple & Webster Group Ltd (ASX: TPW) share price has risen by 0.4%.

    Positive outlook for FY23

    Investors may also be thinking about the “positive outlook” in FY23 that Kogan outlined in its FY22 result.

    In FY23, Kogan is “looking forward” to the continued expansion of Kogan Marketplace, including the anticipated launch of an advertising platform, growth for Mighty Ape, and growth of Kogan First memberships as it heads to one million subscribers.

    It also said that it’s looking forward to “returning to positive operating leverage”. Kogan said it returned to a profit of adjusted earnings before interest, tax, depreciation, and amortisation (EBITDA) in the fourth quarter of FY22.

    July 2022 saw group adjusted EBITDA of $1.5 million and operating costs reduced by 19.3% year over year after ongoing efficiency improvements.

    Kogan share price snapshot

    Despite the positivity, Kogan shares are down around 17% over the past month.

    The post Why is the Kogan share price smashing the ASX 200 on Friday? appeared first on The Motley Fool Australia.

    Wondering where you should invest $1,000 right now?

    When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.* Scott just revealed what he believes could be the “five best ASX stocks” for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now

    See The 5 Stocks
    *Returns as of August 4 2022

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    Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Kogan.com ltd, REDBUBBLE FPO, and Temple & Webster Group Ltd. The Motley Fool Australia has positions in and has recommended Kogan.com ltd. The Motley Fool Australia has recommended Temple & Webster Group Ltd. 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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