Tag: Motley Fool

If you’re looking for ASX dividend shares to buy, then you may want to check out the two listed below.

Both have recently been named as buys by analysts. Here’s why they rate them highly:

Australia and New Zealand Banking Group Ltd (ASX: ANZ)

The first ASX dividend share that analysts are tipping as a buy is big four bank ANZ Bank.

Among the many analysts that are bullish on the bank are the team at Citi. They believe that ANZ will experience a boost to its earnings and dividend in FY 2023 and FY 2024 thanks to cash rate rises.

The bank also recently announced an agreement to acquire the banking operations of Suncorp Group Ltd (ASX: SUN) for $4.9 billion. If this goes through, it will give ANZ’s operations in the Queensland market a significant boost. Citi believes the deal meets a strategic objective at a reasonable price.

As for dividends, the broker is forecasting fully franked dividends of $1.44 per share in FY 2022 and $1.65 per share in FY 2023. Based on the current ANZ share price of $22.86, this will mean yields of 6.3% and 7.2%, respectively.

Citi also sees plenty of upside for the ANZ share price. It currently has a buy rating and $29.00 price target on the bank’s shares.

Centuria Industrial REIT (ASX: CIP)

Another ASX dividend share to look at is Centuria Industrial. It is the largest domestic pure play industrial REIT on the Australian share market.

It has been performing strongly in recent years and continued this trend in FY 2022. Thanks to strong demand for industrial space, earlier this month Centuria Industrial released its full year results and revealed that its occupancy increased to ~99% with a weighted average lease expiry of 8.3 years. This underpinned a 22% increase in funds from operations to $111.7 million.

Macquarie is a fan of the company and was pleased with its performance. It currently has an outperform rating and $3.69 price target on its shares.

As for dividends, the broker is expecting dividends per share of approximately 16 cents in FY 2023 and FY 2024. Based on the current Centuria Industrial share price of $3.04, this will mean yields of 5.3% for investors.

The post Here are 2 ASX dividend shares that analysts are tipping as buys appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#43B02A”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#43B02A”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Could this pose a risk to the ANZ share price in the future?
• ANZ share price on watch following equity raising update
• Can ANZ’s latest acquisition help it catch up to the other ASX 200 bank shares?
• 2 ASX 200 dividend shares analysts rate as buys
• Could the ANZ share price really offer more than 20% upside?

Motley Fool contributor James Mickleboro 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.

from The Motley Fool Australia https://ift.tt/HJMmVwx

On Thursday, the S&P/ASX 200 Index (ASX: XJO) had a strong day and charged higher. The benchmark index rose 0.7% to 7,048.1 points.

Will the market be able to build on this on Friday and end the week on a high? Here are five things to watch:

ASX 200 expected to rise

The Australian share market looks set to end the week on a positive note following a strong night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open 7 points or 0.1% higher this morning. On Wall Street, the Dow Jones rose 1%, the S&P 500 climbed 1.4%, and the Nasdaq stormed 1.6% higher.

Oil prices fall

Energy producers Beach Energy Ltd (ASX: BPT) and Woodside Energy Group Ltd (ASX: WDS) could have a poor finish to the week after oil prices pulled back overnight. According to Bloomberg, the WTI crude oil price is down 1.9% to US$93.10 a barrel and the Brent crude oil price is down 1.3% to US$99.96 a barrel. The prospect of banned Iranian oil exports hitting the market put pressure on prices.

Wesfarmers results

The Wesfarmers Ltd (ASX: WES) share price will be one to watch on Friday. This morning the conglomerate is scheduled to release its full year results. According to a note out of Citi, its analysts are expecting the company to report a net profit after tax of $2,237 million. This is a touch ahead of the market consensus estimate of $2,226.7 million.

Gold price higher

Gold miners Newcrest Mining Ltd (ASX: NCM) and St Barbara Ltd (ASX: SBM) could have a decent finish to the week after the gold price pushed higher overnight. According to CNBC, the spot gold price is up 0.5% to US$1,771.10 an ounce. An easing US dollar appears to have given the safe haven asset a lift.

Ramsay results and takeover update

The Ramsay Health Care Limited (ASX: RHC) share price will be on watch for a couple of reasons on Friday. Firstly, the private healthcare company is due to release its full year results, with the market forecasting a net profit after tax of $321 million. Secondly, the company has provided an update on its takeover approach. KKR’s $88 cash per share non-binding offer is still in play with Ramsay highlighting that the suitor has “not identified any matters that would cause the Consortium to terminate its pursuit of the Indicative Proposal.”

The post 5 things to watch on the ASX 200 on Friday appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#43B02A”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#43B02A”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Why did the Woodside share price hit a 2-year high on Thursday?
• Wesfarmers share price edges higher ahead of Thursday’s results
• Hoping to bag the next Newcrest dividend? Here’s what you need to do
• These ASX 200 shares will trade ex-dividend tomorrow
• 5 things to watch on the ASX 200 on Thursday

Motley Fool contributor James Mickleboro 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 Wesfarmers Limited. The Motley Fool Australia has recommended Ramsay Health Care Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/tTVScQ4

The S&P/ASX All Ordinaries Index (ASX: XAO) closed the session on Thursday up 0.68% to 7,291.9 points.

Earnings season is upon us and some companies have rallied strongly today after posting their results.

Let’s examine three ASX companies in the All Ordinaries index that had a great day today.

Silex Systems Ltd (ASX: SLX)

The Silex Systems share price finished up 11.75% today at $3.71. The shares reached an intraday high of $3.78 early this afternoon — a new 52-week high.

The tech company reported its results for the full year of FY22 this morning. Silex System’s revenue increased 112.5% year over year (yoy) to $4.39 million. Meanwhile, its net loss for the year was $9.46 million, up 36.6% yoy.

Silex Systems noted that it made progress in its global laser enrichment commercialisation project for uranium and utilising nuclear energy.

Among the highlights, the company responded to a request from the United States Department of Energy (DoE) for information on its high-assay low-enriched uranium (HALEU) project in February.

The US Government has supported the HALEU project to the tune of $700 million as part of its Inflation Reduction Act that was passed this month.

No dividend was declared with the results.

Karoon Energy Ltd (ASX: KAR)

The Karoon Energy share price closed 8.4% higher today at $2.07. Earlier, the shares fetched a high of $2.09.

The global energy company reported growth in its top and bottom lines in its FY22 results posted this morning. Sales revenue increased 125.46% yoy to US$385.1 million. Its earnings before interest, tax, depreciation, and amortisation (EBITDA) totalled a (US$28.4 million) loss, down from the US$11.4 million gain in the prior corresponding period.

Net profit after tax (NPAT) also took a large hit in FY22. It totalled a loss of (US$64.5 million), down from a profit of US$4.4 million recorded in FY21.

Product volumes were also higher than in FY21, with 4.64 million barrels produced.

In terms of guidance for FY23, Karoon Energy expects its unit production costs to fall, while its other operating costs will see a rise.

Production costs are expected to fall to US$15/bbl to US$20/bbl, down from US$25.36/bbl in FY22.

Other operating costs will rise to between US$23 million and US$25 million. This is an increase from US$16 million in FY22.

Karoon Energy said it would consider returning value back to shareholders in the form of dividends and share buybacks after completing its investments in Baúna interventions and the Patola development.

Peet Limited (ASX: PPC)

The Peet share price closed up 2.75% today to $1.12. Earlier, they traded for $1.13.

The real estate development company announced its full-year earnings for FY22 this morning.

The company reported a statutory net profit after tax of $52.3 million, up 84% yoy. Sales had a gross value of $1.06 billion, up 23% yoy. EBITDA was $86 million, up 48.02% yoy and statutory profit after tax was up 84% yoy to $52.3 million.

A final fully franked dividend of 4 cents per share was declared. The record date is 19 September and the dividends will be paid on 14 October.

For the mid and near-term outlook, the company stated that its growth is supported by strong labour market conditions and constrained land supply.

On the other hand, the rise in interest rates is expected to be a headwind moving forward, leading to a tapering off of demand in FY23.

Other forces cited as impacting its fundamentals include increased overseas migration and population growth that will drive sales.

The post 3 ASX All Ords shares that leapt higher on FY22 results today appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#43B02A”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#43B02A”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• 3 ASX mining shares that soared over 25% on Thursday
• 3 ASX All Ordinaries shares going ex-dividend today
• Why I’m watching these ASX All Ordinaries shares like a hawk
• Guess which ASX share is soaring 11% after dividends doubled?
• 3 ASX All Ordinaries shares trading ex-dividend today

Motley Fool contributor Matthew Farley 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.

from The Motley Fool Australia https://ift.tt/SjP391r

The Perpetual Ltd (ASX: PPT) share price finished the day more than 8% in the red on Thursday, closing the session at $27.75.

The drop marks a 52-week low for the company, despite announcing its FY22 results before the open today as well.

Noteworthy is that Perpetual also announced its planned takeover of Pendal Group Ltd (ASX: PDL), a move that would create an asset management giant with more than $200 billion in assets under management (AUM).

Perpetual pursues Pendal

In addition to its FY22 earnings, the company advised its intention to acquire Pendal in a part-scrip/part-cash consideration.

Under the proposal, Pendal shareholders would receive 1 Perpetual share plus $1.976 in cash for each share they held.

The mathematics of the deal values Pendal at approximately $6.02 per share on today’s quotes.

This represents a 13% premium to Pendal’s closing price today (note, Pendal gained 8% today as well) and a 23% premium to its closing price on Wednesday.

If successful, the newly formed entity would oversee more than $200 billion in AUM.

The deal is also accretive to earnings per share (EPS) for Perpetual and could deliver double-digit earnings growth once integrated.

Pendal CEO, Deborah Page said the transaction would bring together “two iconic financial services firms”.

“We believe this is a compelling opportunity for shareholders and the business alike”, she added.

The combination will deliver a significant increase in scale, boost our position in an increasingly competitive global market and bring strategic benefits in the dynamic sectors in which we operate, both domestically and internationally.

Meanwhile, Perpetual CEO, Rob Adams said the “defining acquisition” was both “strategically and financially compelling”. He continued:

[The deal allows] us to realise our strategic ambitions significantly sooner than would otherwise occur individually, bringing forward years of growth potential.

Despite the perceived benefits, investors were less than impressed by the news and compressed the Perpetual share price deep into the red today.

This sent prices tumbling to 52-week closing lows by the end of the session. This brings losses to more than 31% for the past 12 months.

Returns for each security are seen on the chart below.

The post The Pendal takeover will create a $200b asset manager, so why is the Perpetual share price tanking? appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Here are the top 10 ASX 200 shares today
• Why City Chic, Flight Centre, Perpetual, and Woolworths shares are sinking
• Why Deep Yellow, IDP, Pendal, and Qantas shares are soaring today
• Pendal share price soars 15% on takeover news
• Perpetual share price tumbles on full-year earnings and takeover news

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.

from The Motley Fool Australia https://ift.tt/vUo53rq

The S&P/ASX 200 Index (ASX: XJO) lifted once more on Thursday as earnings season heated for many of the market’s favourite shares. The index closed 0.71% higher at 7,048.10 points on Thursday.

S&P/ASX 200 Real Estate Index (ASX: XRE) shares took off today, driving the sector 2.2% higher.

Meanwhile, the S&P/ASX 200 Energy Index (ASX: XEJ) surged 1.6% with Paladin Energy in the lead, lifting 11.5% alongside many of its uranium-focused peers.

Woolworths Group Limited (ASX: WOW) shares drove the S&P/ASX 200 Consumer Staples Index (ASX: XSJ)’s tumble. The sector slumped 1.6% today as Woolies fell 3.2% on a $1.5 billion full-year profit.

Other market favourites to move on reporting today included:

• Flight Centre Travel Group Ltd (ASX: FLT) – fell 4.6% as the company returned to profit in the final quarter
• Qantas Airways Limited (ASX: QAN) – gained 7% as losses deepened, and the company announced a $400 million buyback
• Zip Co Ltd (ASX: ZIP) – slipped 2% after posting a $1 billion loss

At the end of Thursday’s session, nine of the ASX 200’s 11 sectors were trading higher. But which stock outperformed all others? Keep reading to find out.

Top 10 ASX 200 shares countdown

Thursday’s top performing ASX 200 share was none other than Paladin Energy. Find out why the uranium company was rocketing today here.

It was followed by Insignia Financial Ltd after the financial services provider posted its earnings for financial year 2022.

Today’s biggest gains were made by these ASX shares:

ASX-listed company	Share price	Price change
Paladin Energy Ltd (ASX: PDN)	$0.82	11.56%
Insignia Financial Ltd (ASX: IFL)	$3.53	11.36%
Nine Entertainment Co Holdings Ltd (ASX: NEC)	$2.18	9%
Qube Holdings Ltd (ASX: QUB)	$2.94	8.49%
Pendal Group Ltd (ASX: PDL)	$5.29	8.4%
Idp Education Ltd (ASX: IEL)	$28.80	7.46%
Qantas Airways Limited (ASX: QAN)	$4.86	7.05%
Charter Hall Group (ASX: CHC)	$13.36	6.54%
Domain Holdings Australia Ltd (ASX: DHG)	$3.66	6.4%
Chalice Mining Ltd (ASX: CHN)	$4.56	629%

Our top 10 ASX 200 shares countdown is a recurring end-of-day summary to let you know which companies were making big moves on the day. Check in at Fool.com.au after the weekday market closes to see which stocks make the countdown.

The post Here are the top 10 ASX 200 shares today appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Charter Hall share price storms 6% higher on record FY22 result
• How did the Polynovo share price respond last time the company reported?
• Here are the 3 most heavily traded ASX 200 shares on Thursday
• 3 ASX 200 shares in the green following earnings updates
• 3 ASX 300 financial shares climbing on earnings updates

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 Idp Education Pty Ltd and ZIPCOLTD FPO. The Motley Fool Australia has recommended Flight Centre Travel Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/xNA3Vq4

The Woodside Energy Group Ltd (ASX: WDS) share price enjoyed another day in the green on Thursday.

At market close, Woodside shares were up 1.98% at $35.51 apiece. However, soon after market open, they reached $36.20 — a two-year high. In fact, in the last couple of years, the ASX oil share has risen by 75%.

Let’s take a look at what might be pushing the Woodside share price higher.

What happened today?

According to Bloomberg, China’s State Council outlined a 19-point policy stimulus package of 1 trillion yuan, or $210 billion.

This funding is focused on infrastructure spending as a way to drive economic growth following the dampening impact of COVID lockdowns and a property market downturn.

This presents a favourable tailwind for Woodside as greater infrastructure spending means more demand for steel and metals.

Woodside would be pleased to hear some positive news after the US and China reported weaker than expected economic data last week. China cut interest rates upon poor data on industrial output and retail sales, missing most analyst estimates as reported by Reuters.

Additionally, the price of Woodside’s key commodity rose for a third straight session on Thursday, Trading Economics reports. West Texas Intermediate (WTI) crude oil futures rose above $95 per barrel, while Brent crude oil futures soared to $102 per barrel — the highest prices in three weeks.

Perhaps not coincidentally, the Woodside share price also rose for a third straight session today.

A quick recap of Woodside’s most recent results

Last month, Woodside released its results for the three months ending 30 June, as my colleague Bernd Struben reported.

Q2 2022 saw the oil producer achieve revenue of $3.44 billion, up 44% from Q1 2022 and 159% from Q1 2021. Woodside also produced 33.8 million barrels of oil equivalent (MMboe), a 60% increase from the prior quarter and up 49% from Q2 2021.

Additionally, the company reported sales volume of 35.8 MMboe, up 51% from Q1 2022 and up 27% on Q1 2021.

These results were spearheaded by Woodside’s merger with the petroleum business of BHP Group Ltd (ASX: BHP). This big event catapulted Woodside into a top 10 global independent energy producer by hydrocarbon production.

Woodside share price snapshot

The Woodside share price has jumped 75% in the past year, 57% year to date, and 12% in the past month.

For comparison, the S&P/ASX 200 Index (ASX: XJO) is down 6% in the past 12 months and 7% so far this year, but is up by almost 4% in the last month.

Woodside has a market capitalisation of around $66.1 billion.

The company is currently trading at a price-to-earnings multiple of 11.94x. On a historical basis, this is on the lower end, so it could be that the poor economic outlook and macroeconomic activity are instilling pessimism in the market.

The post Why did the Woodside share price hit a 2-year high on Thursday? appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• 5 things to watch on the ASX 200 on Thursday
• What boosted the Woodside share price on Wednesday?
• Why is the Woodside share price having such a cracker of a day?
• 5 things to watch on the ASX 200 on Monday
• Here are the top 10 ASX 200 shares today

Motley Fool contributor Raymond Jang 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.

from The Motley Fool Australia https://ift.tt/eTQSD39

If you’re looking for some new portfolio additions, then read on.

Listed below are two ASX shares that analysts at Morgans are bullish on. Here’s what the broker is saying about them:

PWR Holdings Ltd (ASX: PWH)

Analysts at Morgans remain bullish on this automotive products and solutions provider’s shares.

Its analysts highlight that PWR delivered a result ahead of estimates in FY 2022. And with the company sitting on an ample cash balance, it feels management can invest further to support its future growth.

In response to its results, the broker retained its add rating and lifted its price target to $10.50. Based on the current PWR share price of $9.11, this implies potential upside of 15% for investors.

The broker commented:

PWH’s FY22 result was comfortably ahead of expectations with revenue surpassing $100m for the first time. Key positives: All segments delivered revenue growth – Motorsports +11%, OEM +53%, Aftermarket +4%, Emerging Tech +124%; Balance sheet remains very healthy with cash of $21.5m and no debt leaving plenty of capacity for further investment for growth.

Our target price rises to $10.50 and we maintain our Add rating. We believe the outlook remains strong with PWH’s ongoing investment in people, capability and capacity giving us confidence in the pipeline of future opportunities.

SEEK Limited (ASX: SEK)

Morgans is a fan of this job listings company following the release of its full year results.

In response to the release, the broker upgraded Seek’s shares to an add rating with a $29.40 price target. Based on the current Seek share price of $21.65, this implies potential upside of over 35%.

It believes the company is well-placed for growth thanks partly to its pricing power. It commented:

It was a strong FY22 result overall in our view, however additional IT project spend (platform unification) was a surprise to a degree. We lower our FY23-FY25 EPS estimates by ~7-14% factoring in the provided guidance, additional incremental IT investment spend, and further conservatism around opex normalisation/spend over our forecast period. Our price target is lowered $29.40 on the above changes. Whilst we expect job ad volume growth to normalise, we believe SEEK has levers to pull (i.e. price) to continue to drive yield. We move to an ADD recommendation.

The post Here are 2 ASX shares that Morgans rates as buys appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• PWR share price up 6% on record revenue and profit for FY22
• Top brokers name 3 ASX shares to buy today
• Why Bendigo and Adelaide Bank, Challenger, Seek, and Sims shares are dropping
• Seek share price slides despite NPAT soaring 81%
• Here are the top 10 ASX 200 shares today

Motley Fool contributor James Mickleboro has positions in SEEK Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended PWR Holdings Limited. The Motley Fool Australia has positions in and has recommended PWR Holdings Limited. The Motley Fool Australia has recommended SEEK Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/VE1sPSU

It was another encouraging day for ASX shares this Thursday. At the market close, the All Ordinaries Index (ASX: XAO) had gained a robust 0.71% to 7,290 points. But some ASX shares did even better.

So let’s look at not one, not two, but three ASX mining shares that put on at least 25% today.

3 ASX mining shares that gained 25% or more this Thursday

Anson Resources Ltd (ASX: ASN)

First up is Anson Resources. This ASX mining share is an ASX lithium hopeful, conducting lithium mining operations in the United States and Australia. Anson shares rocketed an impressive 26.2% today to finish at 26.5 cents a share. They closed at 21 cents yesterday and opened at 25.5 cents this morning.

As my Fool colleague Aaron covered this afternoon, this powering share price rise seems to be a result of an ASX announcement this morning. The company revealed it has signed an agreement with Sunresin New Materials Co. Ltd. This will see Sunresin provide equipment, supplies, and technical support to Anson.

Variscan Mines Ltd (ASX: VAR)

Next up is Variscan Mines. Variscan has a portfolio that includes two zinc projects in Spain, as well as other interests in Australia and Chile. The Variscan share price was on fire today, finishing up a whopping 40.6% to 4.5 cents a share. It closed at 3.2 cents yesterday and opened at 4.4 cents this morning.

This follows an ASX announcement today that gazetted some positive drilling results. The company confirmed it has discovered “significant zinc-lead mineralisation” at its San Jose Mine in Spain.

Ragusa Minerals Ltd (ASX: RAS)

Finally today, let’s take a gander at the ASX mining share Ragusa Minerals. Ragusa is exploring gold and lithium in the Northern Territory, Alaska, and Zimbabwe. There wasn’t any news out of Ragusa today. But that hasn’t stopped the company from gaining an impressive 26.4% to 33.5 cents a share.

As my Fool colleague Monica reported earlier this week, Ragusa shares have been on a highway for the past month, gaining more than 370% since late July. On 10 August, the company confirmed “high grade lithium perspectivity at the NT project”, which seems to have ignited these frenzied gains in recent weeks.

The post 3 ASX mining shares that soared over 25% on Thursday appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Anson Resources share price rockets 39% on new lithium partnership
• 3 ASX All Ordinaries shares going ex-dividend today
• Why I’m watching these ASX All Ordinaries shares like a hawk
• Guess which ASX share is soaring 11% after dividends doubled?
• Guess which obscure ASX lithium share has gained 293% so far in August

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 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.

from The Motley Fool Australia https://ift.tt/UKMlIoY

The Charter Hall Group (ASX: CHC) share price was a strong performer on Thursday.

The property company’s shares have just closed the session up over 6% to $13.36 following the release of its full year results.

Charter Hall share price higher on strong FY 2022 results

• Record operating earnings of $542.8 million
• Operating earnings per share (OEPS) up 89.5% to 115.6 cents per share
• Statutory profit after tax of $911.1 million
• Distributions up 4.1% to 40.1 cents per share
• Outlook: Distribution guidance of 6% growth in FY 2023

What happened in FY 2022?

For the 12 months ended 30 June, Charter Hall reported record operating earnings of $542.8 million. This was an increase of 90.2% over the prior corresponding period.

While this strong profit was driven by growth across the business, the key driver was its fund management operations.

Fund management EBITDA grew a whopping 170.1% to $552.2 million in FY 2022 thanks to a 456.9% in transaction and performance revenue. This reflects fund outperformance and transaction activity.

Management commentary

Charter Hall’s managing director and CEO, David Harrison, was pleased with the record result. He said:

FY22 delivered a record year of earnings for Charter Hall and earnings growth. The business continues to execute on its strategy of partnering with tenants and investors to drive mutually beneficial outcomes. Our strong investor and tenant customer feedback evidences the customer centric approach to partnering we continue to prosecute.

Further, our ability to execute complex privatisations provides additional deployment opportunities that are not readily replicated. Our development pipeline has grown to $16 billion, with strong growth in pre-leased projects continuing to provide develop to core enhanced returns for our investors. Our focus on partnering, execution, deployment and co-investment alongside fund investors drives growth for securityholders.

Outlook

Also potentially boosting the Charter Hall share price today was the company’s outlook.

While the company is guiding to a softer OEPS result, it still expects one that is materially higher than what was recorded in FY 2021.

Based on no material adverse change in current market conditions, Charter Hall’s FY 2023 earnings guidance is for post-tax OEPS of no less than 90 cent per share.

This is expected to underpin distribution per share growth of 6% over FY 2022.

The post Charter Hall share price storms 6% higher on record FY22 result appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#43B02A”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#43B02A”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Here are the top 10 ASX 200 shares today
• Here are the top 10 ASX 200 shares today

Motley Fool contributor James Mickleboro 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.

from The Motley Fool Australia https://ift.tt/Rwy5x4t

The Province Resources Ltd (ASX: PRL) share price is gaining ground on Thursday following a positive company update.

At the time of writing, the minerals producer’s shares are up 12.50% to 13.5 cents apiece.

Let’s take a look at what the company announced to the ASX earlier today.

Why are Province Resources shares surging today?

Investors are rallying up the Province Resources share price as the company announced it has secured additional land.

According to the release, Province Resources advised it has been issued another section 91 licence from the Western Australian government.

This will see over 2,217 square kilometres of additional land granted to develop the Green Hydrogen project.

Province Resources and its joint development partner, Total Eren are pursuing to conduct studies to support feasibility activities.

In total, the area under licence now amounts to more than 3,000 square kilometres of land in the region.

Province Resources stated that negotiations are underway with the state government for enduring tenure over the project area.

Province CEO and managing director, David Frances commented:

The issue of these licences was only possible with the support of the Gascoyne community and we are delighted with the way stakeholders have embraced the HyEnergy Project.

Securing land tenure is a critical element of this project and it is pleasing to have the support of Traditional Owners, pastoralists and the Local and State Government in this process.

We are excited to pursue the next steps of the HyEnergy Project together with our partner Total Eren, a global renewable energy leader with whom we share a strong commitment to take part in Australia’s green hydrogen strategy.

Province Resources share price recap

The Province Resources share price hit a 52-week low of 5 cents in June before rocketing thereafter.

Despite the strong gains made today, its shares are down 8.6% in 2022.

Province Resources commands a market capitalisation of approximately $129.83 million.

The post Why is the Province Resources share price leaping 8% on Thursday? appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Why did the Province Resources share price pop then flop on Monday?
• Why is the Province Resources share price still halted?
• Up 80% in a month, why is the Province Resources share price on ice today?

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.

from The Motley Fool Australia https://ift.tt/doxp10O