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If you’re wanting to diversify your portfolio with some exchange traded funds (ETFs), then you could do a lot worse than the two ETFs listed below that trade on the Australian share market.

Both of these ETFs provide investors with a large basket of shares from across the globe. Here’s why they could be top options for investors right now:

iShares Global Consumer Staples ETF (ASX: IXI)

The first ETF for investors to look at is the iShares Global Consumer Staples ETF.

This ETF has been designed to measure the performance of the world’s leading consumer staples companies. These are the companies that produce or sell essential everyday products such as food, tobacco, and household items.

The beauty of these products is that demand for them is relatively consistent whatever is happening in the economy. As a result, given the current economic environment, it could be seen as a good option for investors that are looking for lower risk options.

Among its 100+ holdings are household names such as Coca-Cola, Coles Group Ltd (ASX: COL), Colgate-Palmolive, Diageo, L’Oreal, Mondelez, Nestle, PepsiCo, Procter & Gamble, Unilever, Walmart, and Woolworths Group Ltd (ASX: WOW).

Vanguard MSCI Index International Shares ETF (ASX: VGS)

Another ETF for investors to consider is the Vanguard MSCI Index International Shares ETF. This ETF provides investors with exposure to approximately 1,500 of the world’s largest listed companies from major developed countries.

This means that investors can participate in the long-term growth potential of international economies in one fell swoop.

Vanguard believes the ETF could be suitable for buy and hold investors seeking long-term capital growth, some income, and international diversification.

Among the companies included in the fund are giants such as Apple, Johnson & Johnson, JP Morgan, Nestle, Procter & Gamble, and Visa.

The post 2 wonderful ETFs to buy for portfolio diversification appeared first on The Motley Fool Australia.

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More reading

• 2 reasons to consider buying the Vanguard International Shares ETF (VGS) right now
• Is the Vanguard MSCI International ETF (VGS) a good alternative to global tech shares?
• 2 quality ETFs for ASX investors to buy next week
• 3 wonderful ETFs for ASX investors to buy today
• Is the Vanguard VGS ETF a good idea for dividends?

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 positions in and has recommended Vanguard MSCI Index International Shares ETF. The Motley Fool Australia has positions in and has recommended iShares Global Consumer Staples ETF. The Motley Fool Australia has recommended Vanguard MSCI Index International Shares ETF. 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 Link Administration Holdings Ltd (ASX: LNK) share price ended the day lower by more than 2% even though shareholders just gave approval for the takeover.

For readers that didn’t know, Dye & Durham is trying to buy Link. It originally offered $5.50 per share, but then it reduced its offer to $4.81.

The reduction in the offer price acknowledged the movements in financial markets and the trading value of the Link share price and the PEXA Group Ltd (ASX: PXA) share price since the scheme was agreed upon in December 2021.

The offer price of $4.81 per share will be reduced by any special dividend paid by Link. The board said it currently intends to pay a fully franked special dividend of 8 cents per share.

Under the scheme implementation deed, Dye & Durham also agreed that Link shareholders can receive the net sale proceeds of up to 13 cents per Link share from the sale of Link’s banking and credit management business if it is sold and proceeds are received by Link prior to, or up to 12 months, after the implementation of the deal

The vote

Link’s directors recommended that shareholders vote in favour of the deal.

The board said the reduced offer represented a reasonable premium to Link’s last ‘undisturbed’ share price.

Directors pointed out that no superior proposal has emerged and the transaction provides certainty of value for Link shareholders and that investors will no longer be exposed to the risks associated with Link’s business.

The board also noted that the Link share price will continue to be subject to market volatility and may fall if the transaction is not implemented and there isn’t another offer.

The independent expert concluded that the offer is fair and reasonable and in the best interests of investors.

Link revealed that 98.71% of the votes cast by Link shareholders were in favour of the resolution to approve the scheme. It also said that 71.21% of Link shareholders present and voting voted in favour of the takeover.

What’s next?

The company noted that the offer remains subject to certain conditions, including receiving regulatory approvals and the approval of the Supreme Court of NSW at the hearing scheduled on 9 September 2022.

Assuming everything goes according to plan, Link will apply for its shares to be suspended from ASX trading from close of trading on 9 September 2022.

Shareholders will then be paid the special dividend of 8 cents per share, if declared, on 19 September 2022. Shareholders will be paid for their shares on 27 September 2022.

Link share price snapshot

Since the beginning of 2022, Link shares have fallen just over 20%.

The post Link share price dips despite takeover nod appeared first on The Motley Fool Australia.

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More reading

• Why did the Province Resources share price pop then flop on Monday?
• Pilbara Minerals share price jumped today as Macquarie tips 80% upside
• Mineral Resources share price rises as Macquarie tips 54% upside
• Why did the Lynas share price lose 5% on Monday?
• Why did the Bank of Queensland share price lag the other ASX 200 banks today?

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 Link Administration Holdings Ltd and PEXA Group Limited. 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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The Province Resources Ltd (ASX: PRL) share price finished Monday in the red, despite outperforming during the day.

Following a company announcement this morning, the mineral explorer’s shares wavered between 14.5 cents and 16 cents, only to land on 13.5 cents at the closing bell.

At those highs, today’s return extended gains to more than 59% for the past month of trade, as seen below (returns from March to date).

What did Province announce?

After requesting a voluntary suspension in the trading of its securities on 15 August, the quote for Province Resources shares were today reinstated.

The move coincided with Province’s announcement that it has negotiated key terms with Total Eren Australia Pty Ltd to co-develop the HyEnergy green hydrogen project.

Province says that Total Eren is a global renewable independent power producer (IPP). Total Eren owns 3.5 GW of solar and wind farm assets globally.

It is owned in part by TotalEnergies SE (NYSE: TTE), known to be one of the world’s largest energy companies.

The agreement creates a 50:50 structure for the project and identifies key roles moving forward through feasibility stages.

Province CEO David Frances responded to the update. He said the key terms demonstrate the company’s “unique relationships with stakeholders” in the project.

“It also recognises the deep experience and technical capability that Total Eren brings to the table,” he said.

We have ensured that the key terms provide value for Province shareholders and provide the best possible path forward for the project and we look forward to continue our positive relationship with Total Eren.

Further advancements will now be made with the project. This will include key terms laid out as part of the reported deal structure.

Province Resources share price snapshot

In the last 12 months, the Province Resources share price has been on a volatile journey. Nonetheless, Province Resources shares are up 3.57% in that time.

Province Resources closed Monday down 6.9% at 13.5 cents a share.

The post Why did the Province Resources share price pop then flop on Monday? appeared first on The Motley Fool Australia.

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More reading

• 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 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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The Pilbara Minerals Ltd (ASX: PLS) share price closed almost 4% higher at $3.17 today, after one broker outlined a very bullish outlook for the ASX lithium share.

Pilbara Minerals is one of the ASX’s largest lithium miners, with a market capitalisation of more than $9.4 billion at the current share price.

The broker Macquarie thinks that the resources company will get a lot bigger over the next 12 months in terms of what investors will value the business.

What does Macquarie think will happen?

Firstly, let’s talk about the price target.

That’s where Macquarie thinks that the Pilbara Minerals share price will be in 12 months from now.

Macquarie has set its price target on Pilbara Minerals at $5.60, up from $4. That implies a rise of close to 80% over the next 12 months.

Why so positive? The broker thinks the lithium price will be stronger for longer than previously expected. This is largely due to the relationship between supply and demand and the current high price of lithium. Macquarie believes demand will outstrip supply in the medium-term.

In addition, the broker thinks that the price difference in lithium between China and regionally will continue until 2024.

Macquarie also increased its forecast for spodumene – a type of lithium ore with a higher level of lithium content which is used for batteries for electric vehicles.

The broker said that its annual price forecast for 2023 climbed by 55% and more than doubled for 2024, 2025 and 2026.

These pricing forecast increases mean that the broker now thinks Pilbara Minerals will generate more earnings in the coming years, with the ASX lithium share having plenty of leverage when lithium prices rise.

According to Macquarie, the Pilbara Minerals share price is now valued at under 5x FY23’s estimated earnings.

Experts confident on the company

Macquarie isn’t the only one that likes the look of Pilbara Minerals.

My colleague Brooke Cooper reported earlier today that TMS Capital’s Henry Jennings believes that lithium shares could benefit from the push towards electric vehicles if the current economic uncertainty fades away.

She also reported on expectations from Citi that Pilbara Minerals could start paying a dividend in FY23 with an initial payment of 29 cents per share in FY23 and then 21 cents per share in FY24.

Pilbara Minerals share price snapshot

Over the past two months, shares in the company have climbed more than 50%, although they are still almost 10% lower than at the start of the year.

Pilbara Minerals is due to report its full-year earnings results tomorrow.

The post Pilbara Minerals share price jumped today as Macquarie tips 80% upside appeared first on The Motley Fool Australia.

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More reading

• Here are the top 10 ASX 200 shares today
• Here are the 3 most heavily traded ASX 200 shares on Monday
• Why these ASX lithium shares are outperforming the market today
• Could ASX battery minerals shares be in for a boost next month?
• Is the Pilbara Minerals share price a buy prior to the miner’s earnings release tomorrow?

Citigroup is an advertising partner of The Ascent, a Motley Fool company. 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 no position in any of the stocks mentioned. The Motley Fool Australia has recommended 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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The Mineral Resources Limited (ASX: MIN) share price lifted today amid a broker upgrade.

The ASX materials share climbed 1.08% to close at $61.56. In contrast, the S&P/ASX 200 Index (ASX: XJO) fell 0.95% today.

So what is the outlook for Mineral Resources?

Broker lifts price target

Mineral Resources shares lifted slightly today following a broker upgrade.

The Macquarie Group Ltd (ASX: MQG) has boosted the price target on Mineral Resources’ share price to $95 per share. This is 54% more than the current share price.

Analysts have also provided optimism on lithium prices and EV sales. Analysts at Macquarie said “we upgrade the medium-term lithium carbon and hydroxide price outlook”.

Macquarie predicted prices of lithium to “stay high for longer”, adding:

We also lift our regional lithium price forecasts to match the pricing strength in China.

Further, Macquarie predicted electric vehicle (EV) sales to “grow strongly” in 2022, despite the cost of batteries lifting.

Analysts predict EV sales to grow to 10 million this year, more than 50% compared to the previous year.

Macquarie also tipped the share prices of ASX lithium shares Pilbara Minerals Ltd (ASX: PLS), Allkem Ltd (ASX: AKE) and Liontown Resources Ltd (ASX: LTR) to lift.

Mineral Resources share price snapshot

The Mineral Resources share price has risen nearly 21% in the past year, while it has climbed nearly 10% year to date.

In the past month, the company’s share price has soared nearly 30%.

Mineral Resources has a market capitalisation of about $11.7 billion based on the current share price.

The post Mineral Resources share price rises as Macquarie tips 54% upside appeared first on The Motley Fool Australia.

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More reading

• Why these ASX lithium shares are outperforming the market today
• Top brokers name 3 ASX shares to buy next week
• Why has the Mineral Resources share price surged 40% in a month?
• Do any ASX lithium shares pay dividends?
• Analysts name 2 ASX dividend shares to buy next week

Motley Fool contributor Monica O’Shea 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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The Altium Limited (ASX: ALU) share price will be one to watch on Tuesday morning.

This is because the electronic design software company has released its full year results for FY 2022 after the market close.

Altium share price on watch following after smashing expectations

• Revenue up 23% year over year to US$220.8 million
• Recurring revenue up 31% and now 75% of total revenue
• EBITDA margin up 2.4 percentage points to 36.7%
• Net profit after tax up 57% to US$55.5 million
• Final dividend of 26 Australian cents
• Outlook: Revenue growth of 15% to 20% in FY 2023

What happened in FY 2022?

For the 12 months ended 30 June, Altium reported a 23% increase in revenue to US$220.8 million. This was driven by a 12% increase in revenue from the Altium PCB business to US$169.3 million and record Octopart revenue growth of 85% to US$50 million.

The Altium PCB business was boosted by strong adoption for its Altium 365 offering. It ended the period with almost 24,700 monthly active users, up from 19,700 at the end of February. Whereas the Octopart search engine business was given a major lift by the global parts shortage.

This ultimately underpinned stronger than expected margins, which led to Altium’s profits growing at an impressively quicker rate of 57% to US$55.5 million.

This allowed the company to declare a final dividend of 18 Australian cents per share, bringing its full year dividend to 47 Australian cents per share. This represents an 18% increase year over year.

How does this compare to expectations?

The good news for the Altium share price tomorrow is that this result appears to have smashed expectations.

Altium was guiding to revenue of US$213 million to US$217 million and an EBITDA margin at the lower end of 34% to 36%. Whereas it delivered revenue of US$220.8 million and an EBITDA margin of 36.7%.

Furthermore, according to a note out of Bell Potter, its analysts were expecting a net profit result in line with consensus estimates at US$47.7 million. Altium’s profit of US$55.5 million was notably higher than this.

Management commentary

Altium’s CEO, Aram Mirkazemi, was rightfully pleased with the company’s performance in FY 2022. He said:

Altium delivered a strong financial performance for fiscal 2022 supported by a record performance from our Octopart business and solid growth from our Electronic Design Software business. Octopart is the market leader in electronics parts search and benefitted from the global parts shortage which we expect to continue for some time into the new financial year.

Altium Digital Sales has increased efficiency and has achieved a higher realized price, with minimal discounting. Additionally, we are getting a lift as our higher end enterprise grade capabilities gain mainstream adoption.

Outlook

Also potentially giving the Altium share price a lift tomorrow will be its outlook commentary.

Management appears very positive on its prospects in FY 2023 and is guiding to:

• Revenue of US$255 million to US$265 million (15% to 20% growth)
• Underlying EBITDA margin of 35% to 37%

Altium’s revenue growth is expected to be driven by strong performances across the business. It expects Electronic Design Software revenue of US$195 million to US$200 million (15% to 18% growth) and Engineering Cloud Platform revenue of US$60 million to US$65 million (20% to 30% growth).

The post Altium share price on watch after smashing guidance in FY22 appeared first on The Motley Fool Australia.

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More reading

• Broker names 2 ASX growth shares to buy this week
• Here are the top 10 ASX 200 shares today
• Better ASX tech buy: Xero or Altium?
• 2 stellar ASX 200 shares that brokers rate as buys
• How did the Altium share price respond last earnings season?

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 positions in and has recommended Altium. 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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The S&P/ASX 200 Index (ASX: XJO) had a rough start to the week, but plenty of shares managed to buck its downwards trend. The Index closed Monday’s session 0.95% lower at 7,046.90 points.

The S&P/ASX 200 Consumer Discretionary Index (ASX: XDJ) came in as the ASX 200’s worst performing sector, falling 1.9% as Star Entertainment Group Ltd (ASX: SGR) released its full-year earnings.

The S&P/ASX 200 Information Technology Index (ASX: XIJ) also fell 1.5% following a dire Friday on Wall Street that saw the Nasdaq Composite Index (NASDAQ: .IXIC) slump 2%.

Meanwhile, the S&P/ASX 200 Energy Index (ASX: XEJ) slipped 0.9% despite rising oil prices and a strong gain from Ampol Ltd (ASX: ALD). The company dropped its half-year earnings today.

The Brent crude oil price rose 0.1% to US$96.72 a barrel on Friday while the US Nymex crude oil price lifted 0.3% to US$90.77 a barrel.

All in all, none of the ASX 200’s 11 sectors finished Monday’s session in the green.

Still, a few outliners recorded notable gains. Let’s take a look at today’s top performing ASX 200 share.

Top 10 ASX 200 shares countdown

Today’s top performing ASX 200 share was – drum roll please – NIB Holdings Limited (ASX: NHF). The stock lifted 7% after the company dropped its full-year earnings.

Coming in second place was EML Payments Ltd (ASX: EML) on the back of – you guessed it – the release of its earnings, as well as news of an on-market share buyback.

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

ASX-listed company	Share price	Price change
NIB Holdings Limited (ASX: NHF)	$7.78	7.02%
EML Payments Ltd (ASX: EML)	$1.125	6.13%
Pilbara Minerals Ltd (ASX: PLS)	$3.17	3.93%
Telix Pharmaceuticals Ltd (ASX: TLX)	$6.49	2.53%
Whitehaven Coal Ltd (ASX: WHC)	$7.54	2.45%
Kelsian Group Ltd (ASX: KLS)	$6.52	2.35%
Ampol Ltd (ASX: ALD)	$34.92	2.28%
Chorus Ltd (ASX: CNU)	$7.15	2.14%
Medibank Private Ltd (ASX: MPL)	$3.71	1.64%
Viva Energy Group Ltd (ASX: VEA)	$2.81	1.44%

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.

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More reading

• 3 ASX mining shares that went gangbusters on Monday
• Up 41% in a year, is it too late to buy Graincorp shares in 2022?
• Here are the 3 most heavily traded ASX 200 shares on Monday
• Why is the BetaShares NASDAQ 100 ETF having such an awful start to the week?
• The NAB share price is trading on a 4.6% dividend yield right now. How does this compare to other banks?

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 EML Payments. The Motley Fool Australia has positions in and has recommended EML Payments. 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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Three ASX mining shares shot higher on Monday with some recording gains of more than 30%

Their rallies came despite the S&P/ASX 300 Metals and Mining Index (ASX: XMM) closing 0.75% lower today. Meanwhile, the S&P/ASX 200 Materials Index (ASX: XMJ) also lost ground today, down almost the same amount at 0.77%.

More broadly, the S&P/ASX 200 Index (ASX: XJO) closed 0.95% lower on Monday.

Let’s see which mining shares defied the market’s sluggishness today.

Cobre Ltd (ASX: CBE)

The Cobre Ltd share price closed 34.44% higher today. Shares of the copper and base metals exploration company finished the day at 60.5 cents each after hitting a high of 73 cents in midday trading. That was a 62% jump on Friday’s closing price of 45 cents a share.

No news came from Cobre today to account for the massive price rally. In fact, the company’s most recent announcement came on Thursday last week. At that time, Corbe said it had received a renewal for five exploration licenses from the Department of Mines in Botswana. The price of copper also recorded a small gain today, up 0.69%, according to Markets Insider.

Anson Resources Ltd (ASX: ASN)

Anson Resources was another ASX mineral explorer share that skyrocketed on Monday. The company’s share price finished the day at 20 cents, a 38% jump, after hitting a high of 21 cents in afternoon trading.

Today, Anson Resources announced a major resource upgrade for its Paradox lithium project. The company said a “new discovery” led to the upgrade, accounting for 788,300 tons of lithium carbonate and 3.523 metric tonnes of bromine. These reflect a 324% increase in previously reported lithium reserves and a 248% increase in bromine reserves. The materials were discovered in the Long Canyon Unit 2 well in Utah in the US.

Iris Metals Ltd (ASX: IR1)

Finally, the Iris Metals share price closed 9% higher today at 84.5 cents. Earlier today, the company’s shares hit a high of 95 cents each. That represented a gain of 22.6% on Friday’s closing price of 77.5 cents a share.

There was no news out of Iris Metals today. However, the company’s share price may have been riding the momentum of an announcement last Thursday. In an update to the ASX, the company claimed to be the largest holder of lithium claims in the US state of South Dakota. The total number of the company’s claims now stands at 2056, covering an area of 171.12 square kilometres. 

The post 3 ASX mining shares that went gangbusters on Monday appeared first on The Motley Fool Australia.

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More reading

• Here are the top 10 ASX 200 shares today
• Up 41% in a year, is it too late to buy Graincorp shares in 2022?
• Here are the 3 most heavily traded ASX 200 shares on Monday
• Why is the BetaShares NASDAQ 100 ETF having such an awful start to the week?
• The NAB share price is trading on a 4.6% dividend yield right now. How does this compare to other banks?

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.

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It’s been a fairly disappointing start to the trading week this Monday for the S&P/ASX 200 Index (ASX: XJO). At the time of writing, the ASX 200 has fallen by 0.9% to just over 7,050 points. But it’s been even worse for the Newcrest Mining Ltd (ASX: NCM) share price.

Newcrest shares have had a shocker today. The ASX 200 gold miner has fallen a painful 4.9% so far this Monday to $18.40 a share at present. But Newcrest dropped as low as $18.38 just after midday as well.

Not only is that low watermark a new 52-week low for Newcrest. But it’s also the lowest share price the gold miner has touched in almost six years.

So what on earth has prompted Newcrest shares to such a dire start to the week?

Well, it would be tempting to blame the earnings report for FY22 that Newcrest dropped last Friday.

As we covered at the time, Newcrest reported a 25% drop in underlying profits to US$872 million. Earnings before interest, tax, depreciation, and amortisation (EBITDA) also fell 16% to US$2.054 billion, while gold production dipped 7% to 1,956 million ounces.

All of this led to a fall in earnings per share (EPS) of 27% and a halving of Newcrest’s final dividend to 20 US cents.

Gold doesn’t glitter for the Newcrest share price

But it’s rather difficult to blame today’s share price woes on this less-than-inspiring earnings report. That’s because last Friday when the report was released (pre-market), Newcrest shares ended up finishing the day by rising 3.64%.

So it’s more likely that the… panning that Newcrest shares are enduring today has more to do with the price of gold itself. The yellow metal has been out of favour for a while now. And, as my Fool colleague James reported this morning, gold had a torrid end to the last week on the US markets:

…the spot gold price was down 0.6% to US$1,760.30 an ounce. A strong US dollar put pressure on the precious metal last week, leading to five daily declines out of five. This is its longest losing run since November.

So this is probably why we are seeing such pain in the Newcrest share price this Monday. Not that it’s just Newcrest that is suffering. Its fellow gold mining peer Northern Star Resources Ltd (ASX: NST) has shed 2.72% today to $7.51 a share.

Gold Road Resources Ltd (ASX: GOR) has lost 3.5%, while Perseus Mining Limited (ASX: PRU) has dipped 2.7%.

So not a great start to the trading week for ASX gold shares all around.

At the current Newcrest Mining share price, this ASX 200 gold share has a market capitalisation of $16.4 billion, with a dividend yield of 2.16%.

The post Why did the Newcrest share price just slump to a 6-year low? appeared first on The Motley Fool Australia.

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More reading

• 5 things to watch on the ASX 200 on Monday
• Here are the top 10 ASX 200 shares today
• Why Accent, Cochlear, Newcrest, and Santos shares are charging higher today
• Everything you need to know about the latest Newcrest dividend
• Newcrest share price lifts despite profit falling 25%

Motley Fool contributor Sebastian Bowen has positions in Newcrest Mining Limited. 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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The Piedmont Lithium Inc (ASX: PLL) share price is crashing back down to earth after rocketing 85% in the past month.

At the time of writing, shares in the Australian lithium miner are down 10% to 81 cents.

Despite the heavy fall, its shares are still up 48% in a month.

Let’s look at what could be driving the fall in the company’s share price.

What’s happened to Piedmont shares?

Investors are offloading Piedmont shares in droves following a mixed session across the lithium space.

Shares in Sayona Mining Ltd (ASX: SYA) and Lake Resources NL (ASX: LKE) are up 2.78% and 1.65%, respectively.

However, other lithium shares such as Global Lithium Resources Ltd (ASX: GL1) and Li-S Energy Ltd (ASX: LIS) are down 6.56% and 5.39%, respectively.

Piedmont hasn’t reported anything today that would explain why its shares have fallen so sharply.

However, given the sudden acceleration in the past month, there were a few indicators that its shares were overbought.

For example, the relative strength index (RSI) touched 82 on 17 August – just before sellers swung into action.

The RSI is a momentum oscillator that is used to assess the strength or weakness of a share price. Normal levels range between 30 and 70, but anything outside this tells us if the share price is cheap or expensive.

Furthermore, the Piedmont share price was outside the Bollinger Bands. This works well in conjunction with the RSI, which gives oversold or overbought signals of the share.

Piedmont share price summary

Despite the recent fall, the Piedmont share price is up 10% in 2022.

When looking at the longer term, the company’s shares are ahead by 18% over the past 12 months.

For context, the S&P/ASX 200 Index (ASX: XJO) has tumbled 5% in 2022, and since this time last year.

Based on today’s price, Piedmont presides a market capitalisation of roughly $474.81 million.

The post Why is the Piedmont Lithium share price plunging 10% today? appeared first on The Motley Fool Australia.

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More reading

• Why are ASX lithium shares having such a cracking start to the week?
• Why is the Piedmont Lithium share price rocketing 15% on Monday?
• Why is the Piedmont Lithium share price off to such a great start in August?
• Why are ASX lithium shares having such a top run on Wednesday?
• Why is the Piedmont Lithium share price piling on 6% 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.

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