Tag: Motley Fool

The AMP Ltd (ASX: AMP) share price backtracked on Monday following the release of the company’s half-year results last week.

Shares in the embattled financial services company closed the day 2.65% lower at $1.10.

This means AMP shares have lost 5.58% in the past week.

What is going on with AMP shares?

While the S&P/ASX 200 Index (ASX: XJO) finished 0.45% higher on Monday, the AMP share price headed the other way.

This can be attributed to the S&P/ASX 200 Financials Index (ASX: XFJ), which shed 0.21% today.

The sector, which contains 28 companies in the ASX 200, was dragged down by the Bendigo and Adelaide Bank Ltd (ASX: BEN) share price.

The regional bank’s shares closed Monday’s trading at $9.88 apiece, down 8.35% after the company delivered disappointing FY22 results.

It’s worth noting that shares in Westpac Banking Corp (ASX: WBC) and National Australia Bank Ltd (ASX: NAB) were also in negative territory for most of the day.

Westpac finished Monday down 1% at $22.43, though NAB managed to pop into the green in the last 10 minutes of trade, closing up 0.1% at $30.81.

What does this broker think?

According to ANZ Share Investing, analysts at JP Morgan cut its price target for AMP shares by 12% to $1.10 per share.

The broker believes that the share is fairly valued for the time being, which the market seems to agree with based on the price.

AMP share price snapshot

The last 12 months have been yet another disappointing result for AMP shares, moving in circles to register a loss of 4.76%.

Market volatility mixed with a decline in investment markets is creating a difficult environment for the company.

AMP has a price-to-earnings (P/E) ratio of 39.79 and commands a market capitalisation of roughly $3.69 billion.

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

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More reading

• Here are the 3 most heavily traded ASX 200 shares on Monday
• Why is the Liontown share price leaping 5% on Monday?
• Nearmap share price jumps 30% on takeover news
• The ASX 200 company selling everything it makes due to its major competitor being out of the market: fundie
• Carsales share price on watch as full-year profit jumps 23%

JPMorgan Chase is an advertising partner of The Ascent, a Motley Fool company. 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 positions in and has recommended Bendigo and Adelaide Bank Limited. The Motley Fool Australia has recommended Westpac Banking Corporation. 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 big week for the Treasury Wine Estates Ltd (ASX: TWE) share price this week. Not because Treasury shares put on a pleasing 1.13% today to $12.51 a share (although that will no doubt be welcomed by shareholders.

But it’s because Treasury is scheduled to report its full-year earnings for the 2022 financial year on Thursday (18 August).

Now, of course, we don’t know exactly what will be in this earnings report until we see it. But what we can do is see what some of ASX’s top experts are saying about this wine company in the lead-up to this reporting date.

Experts rate the Treasury Wine share price

So let’s start with ASX broker Morgans. Earlier this month, my Fool colleague James covered Morgans’ add rating on Treasury shares. The broker named the winemaker as one of the best buys this August.

It declared a 12-month share price target of $13.93 for Treasury, which represents an upside of more than 11% from where the company sits today. Here’s some of what the broker said in its decision:

TWE owns much loved iconic wine brands, the jewel in the crown being Penfolds. We rate its management team highly. The foundations are now in place for TWE to deliver strong earnings growth from the 2H22 over the next few years. Trading at a material discount to our valuation and other luxury brand owners, TWE is a key pick for us.

Is Treasury an inflation hedge?

But Morgans isn’t the only expert eyeing off Treasury Wines today. My Fool colleague Tony also went through the views of John Ayoub last week. Ayoub is the lead portfolio manager at listed investment company (LIC) WAM Leaders Ltd (ASX: WLE). Here’s some of what he said about Treasury:

Under the leadership of Tim Ford… Treasury Wine Estates has successfully repositioned itself away from China.. The business is now in a much stronger position than it was prior to the tariffs, allowing the company to shift back to a growth mindset…

In the current environment, Treasury Wine Estates is set to outperform… Wine consumption has proven defensive in previous economic downturns, the company is well positioned to pass through inflationary pressures and it has well-recognised brands and strong vintages that are in perennial demand.

So that’s how these two ASX investing experts view the Treasury share price as we head towards its earnings this week. It will be interesting to see if their views remain the same after we hear from the company.

But in the meantime, the current Treasury Wine Estates share price gives this ASX 200 consumer staples share a market capitalisation of $8.93 billion, with a dividend yield of 2.4%.

The post Is the Treasury Wine share price a buy before the company reports this week? appeared first on The Motley Fool Australia.

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More reading

• Experts name 2 ASX growth shares to buy when the market reopens
• ‘Back to a growth mindset’: Expert names ASX share ready to take off
• Treasury Wine share price up amid key China trademark win
• 2 excellent ASX growth shares to buy now according to brokers
• 3 ASX 200 shares to buy for a post-COVID resurgence: experts

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 Treasury Wine Estates 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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It’s been a solid day for the S&P/ASX 200 Index (ASX: XJO) this Monday’s earnings really get going. As it stands as we approach the closing bell, the ASX 200 share has put on a solid 0.45% at just over 7,060 points. But it’s going a whole lot better for the Lake Resources N.L. (ASX: LKE) share price.

Lake Resources shares have had a corker of a day today. The ASX 200 lithium stock is currently up a pleasing 5.07% at $1.45 a share. Earlier today, the company rose as high as $1.48 a share, which was worth a rise of over 7% at the time. It’s a pleasing rebound from last Friday, which saw the company shed more than 13%.

So what’s gone so right for Lake this Monday?

Why is the Lake Resources share price rising today?

Well, it’s hard to say. Lake hasn’t put out any news or announcements itself today. Indeed, we haven’t heard anything substantial from the company since the quarterly activities report we saw at the end of last month. That hasn’t stopped the Lake Resources share price from adding almost 30% over the past week though.

So the most likely explanation for Lake’s stellar share price run today might be what occurred with its fellow lithium stock Core Lithium Ltd (ASX: CXO) today.

Core Lithium shares have fared even better than Lake Resources during today’s session. The company has gained a pleasing 8.16%  to $1.59 a share. This follows the company releasing a well-received update to investors this morning.

As my Fool colleague Brooke covered earlier, Core revealed some promising lithium results at two of its projects, as well as some promising news regarding the presence of gold at one of them.

So it seems that this goodwill might be spilling into the Lake Resources share price today.

At the current Lake Resources share price, this ASX lithium stock has a market capitalisation of $2.02 billion.

The post Why is the Lake Resources share price rebounding 5% on Monday? appeared first on The Motley Fool Australia.

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More reading

• 3 ASX 200 shares having a super start to the week
• Here are the 3 most heavily traded ASX 200 shares on Monday
• Why BlueScope, Carsales, Core Lithium, and Nearmap shares are racing higher
• Why are ASX lithium shares having such a cracking start to the week?
• Why is the Liontown share price leaping 5% on Monday?

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.

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Monday has shaped up to be a good day for the S&P/ASX 200 Index (ASX: XJO), and an even better one for these three ASX 200 shares. They’re each outperforming in the index on the back of exciting updates.

For context, the index is currently 0.5% higher than it was at the end of last week.

So, what’s driving these ASX 200 shares upwards on Monday? Let’s take a look.

3 ASX 200 shares taking off today

Core Lithium Ltd (ASX: CXO)

It’s a good day for owners of Core Lithium stock. The ASX 200 share is currently 9% higher than it was at Friday’s close, trading for $1.605.

The Northern Territory-focused lithium developer released an update on its exploration activities this morning, detailing lithium and gold finds. On top of that, it updated the market on two exploration grants.  

BlueScope Steel Limited (ASX: BSL)

Monday has also brought gains for ASX 200 steel producer BlueScope. Its share price is up 4.9% right now, trading at $17.72.

Its gain comes on the back of the company’s full year earnings, released to the market this morning.

BlueScope saw a 48% jump in sales revenue in financial year 2022 compared to that of the prior corresponding period (pcp), as well as a 135% increase in net profit after tax (NPAT) and a 119% lift in earnings before interest and tax.

GPT Group (ASX: GPT)

Finally, shares in ASX 200 diversified property giant GPT Group are also taking off today. They’ve gained 5.5% at the time of writing to swap hands for $4.535 apiece.

That’s despite the company reporting mixed results for the first half of 2022 today.

GPT saw its funds from operations increase 8% last half compared to that of the pcp, while its net tangible assets per security lifted 2.8%. However, its NPAT slumped 30% while it dropped its interim dividend by 4.5% to 12.7 cents per share.

The post 3 ASX 200 shares having a super start to the week appeared first on The Motley Fool Australia.

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More reading

• Here are the 3 most heavily traded ASX 200 shares on Monday
• Why BlueScope, Carsales, Core Lithium, and Nearmap shares are racing higher
• Why are ASX lithium shares having such a cracking start to the week?
• Why is the Liontown share price leaping 5% on Monday?
• Bluescope share price lifts 5% on record earnings

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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One ASX critical minerals share is outperforming the S&P/ASX 200 Materials Index (ASX: XMJ) Index today.  

The Sarytogan Graphite Ltd (ASX: SGA) share price soared 30% today before retreating. Since midday, the share price has lost some of its earlier gains and is now trading at 46.5 cents, up 7%. For perspective, the ASX 200 Materials Index is 0.91% higher at the time of writing.

So what did this newly listed explorer announce today?

Why is this ASX critical minerals share rising?

Investors are buying up Sarytogan shares after the company delivered drilling results beyond expectations.

Sarytogan Graphite listed on the ASX in July. The company is exploring the Sarytogan graphite deposit in central Kazakstan.

Drilling intercepted with thick high-grade graphite at the first seven diamond drill holes. Graphite is on Australia’s critical minerals list.

In the future, Sarytogan will undertake metallurgical test work, update the mineral resource, and continue diamond drilling.

Commenting on the results, managing director Sean Gregory said:

Sarytogan is thrilled with this first round of drilling results that have exceeded expectations with broad intercepts of high-grade mineralisation in the Central Graphite Zone.

These outstanding results have the potential to significantly expand the already giant mineral resource.

The company has drilled 13 holes so far with six awaiting assay results. The updated mineral resource is forecast to be reported in quarter one, 2023.

Share price snapshot

The Sarytogan share price has exploded 145% since listing on the ASX and nearly 50% in the past week.

This ASX critical minerals share has a market capitalisation of about $30 million based on the current share price.

The post ‘Thrilled’: Why this ASX critical minerals share surged 30% on Monday appeared first on The Motley Fool Australia.

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More reading

• Here are the 3 most heavily traded ASX 200 shares on Monday
• Could Block’s ‘superpower’ be an Achilles’ heel for Zip shares?
• Will the next era of computing break the Bitcoin price or boost it?
• Leading brokers name 3 ASX shares to buy today
• Why BlueScope, Carsales, Core Lithium, and Nearmap shares are racing higher

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 S&P/ASX 200 Index (ASX: XJO) is off to the races so far this Monday in a flying start to the week. At the time of writing, the ASX 200 has added a healthy 0.52% to back above 7,060 points.

The post Here are the 3 most heavily traded ASX 200 shares on Monday appeared first on The Motley Fool Australia.

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More reading

• Why BlueScope, Carsales, Core Lithium, and Nearmap shares are racing higher
• Why Beach, Bendigo and Adelaide Bank, Opthea, and Paradigm shares are sinking
• Why are ASX lithium shares having such a cracking start to the week?
• Why is the Liontown share price leaping 5% on Monday?
• Here’s why the Core Lithium share price is soaring 10% on Monday

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.

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It has been over a week since Block Inc (ASX: SQ2) released its second quarter results for FY22. During this time, Zip Co Ltd (ASX: ZIP) shares have slipped 2% after what has been a thunderous 150% resurgence from 1 July.

While Block’s metrics were mostly in line with expectations, the earnings call included some rather optimistic remarks from management regarding the company.

Instead of flaunting growth in its gross payment volume (GPV) or its 47 million transaction Cash App accounts, Block’s chair and co-founder, Jack Dorsey, highlighted its unique value proposition.

More than instalments

As The Motley Fool reported previously, Zip delivered higher growth than its formerly ASX-listed foe, Afterpay, in the most recent quarter.

Afterpay, owned by United States fintech company Block, experienced a 13% uptick in total transactions via the platform — reaching US$5.3 billion. However, Larry Diamond-led Zip delivered a 20% improvement to $2.2 billion compared to the prior corresponding period. In turn, Zip shares soared 16% on the positive news.

Yet, Dorsey’s impassioned belief in Block remained intact during the company’s earnings call. In response to a question regarding retention and future growth, Dorsey said:

In terms of retention and also new customer acquisition, it really has to do with how much utility we’re offering… that we’re not just focused on one thing such as peer-to-peer transactions, or investing, or Bitcoin, or lending; but it is one place where you can do all those things.

In fact, the co-founder goes as far as to describe its offering diversity as Block’s ‘superpower’, stating:

More importantly, the fact that we have both of those [Cash App ecosystem and Square ecosystem] in one company, we believe is our superpower. So, over the long term, we will continue to see a bunch of ebbs and flows within the markets and macro environments. But our strength relies on the fact that we’re not just dependent upon one particular use case — one particular utility — but that we offer all of them. While one may ebb the other will flow. We will continue to build this ecosystem where someone’s coming back to CashApp every single day for something that is of extreme importance in their life.

What does it mean for Zip shares?

In contrast to Block, Zip has squarely set its sights on the buy now, pay later market. Even more so following news of the company’s Operation Blue Sky, which aims to remove excess expenses.

As part of Operation Blue Sky, Zip is believed to be hitting pause on other ambitious forays into finance. This includes Zip’s previously touted planned entry into crypto. Interestingly, Bitcoin revenue was responsible for around 40% of Block’s revenue in the second quarter.

However, whether Zip’s narrow focus will prove to be a strength or cause strife will only become apparent with time.

Despite Zip Co’s recent rally, Block shares have been the outperformer over the last six months. During this time, Zip has fallen 55% while Block is down 21%.

The post Could Block’s ‘superpower’ be an Achilles’ heel for Zip shares? appeared first on The Motley Fool Australia.

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More reading

• These are the 10 most shorted ASX shares
• Is this ASX 200 BNPL player focused on growth or less risk?
• Here are the top 10 ASX 200 shares today
• Why Block, Lake, Mirvac, and QBE shares are racing higher
• Why are ASX 200 tech shares flying higher on Thursday?

Motley Fool contributor Mitchell Lawler has positions in Block, Inc. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Block, Inc. and ZIPCOLTD FPO. The Motley Fool Australia has positions in and has recommended Block, Inc. 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 Bitcoin (CRYPTO: BTC) price is up 1% over the past 24 hours to US$24,823 (AU$34,925).

With the latest nudge higher, the world’s number one crypto is up 6% over the past week. Though BTC remains down 48% year-to-date.

That’s the recent price action.

But is there a bigger threat ahead that could send the Bitcoin price plummeting?

What impact will quantum computing have on the Bitcoin price?

The next era of computing, quantum computing, isn’t quite here yet. But it draws inexorably nearer.

And, barring any Terminator-inspired fears of a dominating Skynet, the massive leap forward in supercomputing power should, eventually, bring equally massive benefits along with it.

As for the Bitcoin price, in its current form, the blockchain powering the crypto would be vulnerable to any hackers with access to a quantum computer.

To fix those vulnerabilities is “a big, big job”, says David Treat, co-lead of Accenture’s blockchain business.

And it’s not just Bitcoin. Every crypto would currently be vulnerable to quantum computing decryption.

According to Treat (courtesy of The Age):

The advancement of quantum does challenge our existing encryption … but every advancement is as applicable to offence as it is defence. For anything new that we’re building now, we’re already very much considering what the post-quantum cryptography requirements will be. The standards for that are just now emerging.

However, everything that currently exists right now will need to be retrofitted. And that is a big, big job.

And if crypto investors don’t want to see the Bitcoin price get walloped, Treat says the developers will need to get prepared for the coming reality of quantum computers before those with malicious intent do.

“We think there’s real urgency around being prepared. If good guys develop it first, they will announce it,” Treat said. “If a bad actor is the first one to get there, I’m not sure they’re going to announce that, instead we’ll just start to see the impacts of it. So getting ready is super important.”

The post Will the next era of computing break the Bitcoin price or boost it? appeared first on The Motley Fool Australia.

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More reading

• Here’s why the Dogecoin price has had such a great week
• Why Ethereum, Bitcoin, and Dogecoin jumped this morning
• Why Bitcoin and Ethereum are rising today
• Why this Bitcoin maximalist says all other ‘crypto is a scam’
• Why Bitcoin, Ethereum, and Shiba Inu are falling today

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 positions in and has recommended Bitcoin. The Motley Fool Australia has positions in and has recommended Bitcoin. 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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With so many shares to choose from on the ASX, it can be hard to decide which ones to buy. The good news is that brokers across the country are doing a lot of the hard work for you.

Three top ASX shares leading brokers have named as buys this week are listed below. Here’s why they are bullish on them:

Baby Bunting Group Ltd (ASX: BBN)

According to a note out of Citi, its analysts have retained their buy rating but cut their price target on this baby products retailer’s shares to $5.62. This follows the release of the company’s full year results, which fell short of expectations. However, the broker was pleased with Baby Bunting’s margin improvement which was driven by its new distribution centre and expansion in the luxury and private labels. Looking ahead, Citi remains positive and is forecasting solid earnings growth through to FY 2025. The Baby Bunting share price is trading at $4.82 today.

Insurance Australia Group Ltd (ASX: IAG)

A note out of Macquarie reveals that its analysts have retained their outperform rating and lifted their price target on this insurance giant’s shares slightly to $5.50. This follows the release of IAG’s FY 2022 results, which were largely pre-released last month. Macquarie likes the company due to its belief that it could be a good inflation hedge. The broker also feels that its shares are cheap at the current level. The IAG share price is fetching $4.50 on Monday.

ResMed Inc (ASX: RMD)

Analysts at Goldman Sachs have retained their buy rating and lifted their price target on this sleep treatment company’s shares to $36.80. According to the note, the broker was reasonably pleased with ResMed fourth quarter update. And while it has reduced its earnings estimates through to FY 2025 to reflect higher costs, it remains very positive. The broker believes ResMed’s valuation is not demanding in the context of various near and long-dated tailwinds. The ResMed share price is trading at $33.53 this afternoon.

The post Leading brokers name 3 ASX shares to buy today appeared first on The Motley Fool Australia.

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More reading

• The ASX 200 company selling everything it makes due to its major competitor being out of the market: fundie
• 2 quality ASX shares Wilsons just bought
• Resmed share price dips despite profit and dividend boost
• Why Baby Bunting, PointsBet, ResMed, and Suncorp shares are dropping today
• Why 5E Advanced Materials, IAG, Magnis, and Woodside shares are pushing higher

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 ResMed Inc. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended ResMed. The Motley Fool Australia has positions in and has recommended Insurance Australia Group Limited and ResMed Inc. The Motley Fool Australia has recommended Baby Bunting. 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) has followed Wall Street’s lead and is on course to record a solid gain. In afternoon trade, the benchmark index is up 0.% to 7,069.4 points.

Four ASX shares that are climbing more than most today are listed below. Here’s why they are racing higher:

BlueScope Steel Limited (ASX: BSL)

The BlueScope share price is up 5.5% to $17.82. Investors have been buying this steel producer’s shares after the release of its FY 2022 results. For the 12 months ended 30 June, BlueScope reported a 135% increase in net profit after tax to a record of $2.81 billion. This was driven by favourable steel spreads.

Carsales.Com Ltd (ASX: CAR)

The Carsales share price is up 5.5% to $22.87 after the auto listings company’s full year results impressed. Carsales reported a 27% increase in adjusted net profit after tax to $195 million for FY 2022. This was at the upper end of the company’s guidance range.

Core Lithium Ltd (ASX: CXO)

The Core Lithium share price is up 10% to $1.62. This morning this lithium developer released an update on its exploration activities. Core revealed that its 40,000m reverse circulation drilling program is now underway and a pipeline of existing and new targets at the Finniss Project are to be tested. Management also revealed that high grade lithium rock chip results were received from Anningie-Barrow Creek Project.

Nearmap Ltd (ASX: NEA)

The Nearmap share price has jumped 23% to $1.87. This morning the aerial imagery company announced that it has received a non-binding takeover offer from Thoma Bravo. The private equity firm has tabled a $2.10 per share offer, which values Nearmap at approximately $1 billion. Due diligence has been granted so Thoma Bravo can explore whether a definitive transaction can be agreed.

The post Why BlueScope, Carsales, Core Lithium, and Nearmap shares are racing higher 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 Liontown share price leaping 5% on Monday?
• Bluescope share price lifts 5% on record earnings
• Carsales share price launches 5% as profit lifts to $161m
• Here’s why the Core Lithium share price is soaring 10% on Monday

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 Nearmap Ltd. The Motley Fool Australia has positions in and has recommended Nearmap Ltd. The Motley Fool Australia has recommended carsales.com 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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