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The Weebit Nano Ltd (ASX: WBT) share price is all over the map today.

The ASX tech share, which develops next generation computer memory technology for the global semiconductor industry, is currently down 1.8% after posting gains of more than 4% in early morning trade.

So, what’s going on with the Weebit Nano share price?

Well, the company released two separate price-sensitive announcements today. Namely, its quarterly results for the three months ending 30 June, as well as a report that its demonstration chips have been released to manufacturing.

Weebit Nano share price fails to lift off on tape-out of demonstration chips

Turning to the demo chips first, Weebit reported it had taped-out (released to manufacturing) demonstration chips integrating its embedded Resistive Random-Access Memory (ReRAM) module to SkyWater Technology’s foundry.

The company labelled this first tape-out of demo chips as “a major milestone toward commercialisation”.

Commenting on the milestone, Coby Hanoch, Weebit Nano CEO said:

This successful tape-out concludes the technology transfer to SkyWater’s US production fab, and once the chips are back from the fab, we will proceed with technology qualification. We’re in discussions with early-adopter customers looking to leverage our faster, more efficient memory technology to increase their competitiveness in the market.

Thomas Sonderman, SkyWater CEO added:

Weebit ReRAM is a rich building block our customers can leverage to create innovative, highly differentiated SoC designs. Given the technology’s ultra-low power consumption and integration flexibility, we are already seeing enthusiastic interest from customers in areas such as IoT, power management and mixed-signal designs.

What results were reported for Q4 FY22?

Turning to the quarterly results that look to be sending the Weebit Nano share price on a bit of a rollercoaster today, atop the taped-out demo chips, the ASX tech share reported:

• Its demonstration chips completed functional testing
• The company publicly demonstrated its ReRAM IP module for the first time
• It commenced technology qualification at Leti with very good initial results
• Weebit continued bolstering its marketing and sales activities

Commenting on the Q4 results, Hanoch said:

Weebit Nano achieved several significant technical milestones during the quarter and is steadily progressing towards volume production at SkyWater and first customer orders…

Our ReRAM will first be available on SkyWater’s 130nm CMOS process and discussions with additional fabs are ongoing. Our technology also has the capability to scale to smaller geometries for more advanced applications, having already demonstrated production level parameters at 28nm. We continue to work on scaling to 22nm as well as other development priorities that include a solution for the discrete memory market.

Fourth quarter research and development expenses came in at $1.8 million.

Looking ahead the company said by the end of December it’s on track to receive the wafers from SkyWater and progress with technology qualification, as well as continuing to scale its embedded ReRAM to 22nm.

Weebit Nano share price snapshot

Over the past 12 months, the Weebit Nano share price has outperformed the benchmark, gaining 5% compared to a 7% loss posted by the All Ordinaries Index (ASX: XAO).

The post ‘Major milestone’: What’s with the Weebit Nano share price on Friday? appeared first on The Motley Fool Australia.

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More reading

• ASX 200 midday update: Zip crashes, PointsBet tumbles
• The big dipper: Zip share price dives 24% in wild end-of-week ride
• When will Qantas shares pay a dividend again?
• Pointerra share price tumbles despite 93% increase in full-year cash receipts
• Here’s the Coles dividend forecast through to 2024

Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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What a rollercoaster it has been for the Zip Co Ltd (ASX: ZIP) share price.

After hitting a four-month high of $1.72 at market open today, shares in the buy-now, pay-later (BNPL) company are now being heavily sold off.

It was only late last month when Zip shares hit a multi-year low of 43.5 cents before rocketing by more than 300%. That included gains of around 20% on each of the previous three trading days this week.

However, in late morning trade, the share is trading at $1.15 – down 24.34% for the day.

Let’s take a look at what could be weighing on the company’s share price.

What’s dragging Zip down?

It appears the Zip share price is cooling off after unusually strong sector moves over the past week.

BNPL peers Splitit Ltd (ASX: SPT) and Openpay Group Ltd (ASX: OPY) are down 5.77% and 23.6%, respectively.

Sezzle Inc (ASX: SZL) has endured a similarly tough day to Zip. Its share price jumped 46% in early trading following the release of the company’s second-quarter update but has since slumped and is now 0.98% in the red.

Overnight data from the Federal Reserve could be sparking the sell off.

The release of the latest GDP readings showed that the US economy had shrunk by 0.9% in the second quarter.

Following the 1.6% contraction in the prior period, this now marks an ‘unofficial recession’ in the world’s largest economy.

While the US government has insisted the US is not in recession, it seems investors aren’t taking this lightly.

Technically, the National Bureau of Economic Research has the last say in declaring whether or not the US is in a recession.

It is worth noting though that if consumer spending does dry up then the BNPL industry would feel the impact. Discretionary purchases such as electronics, furniture, and clothing are likely to be the first to go.

For Zip to prosper in a gloomy economic environment, minimising credit risk is becoming a top priority. Especially, as bad debts continue to rise across the sector.

Zip share price snapshot

Over the past 12 months, the Zip share price has plummeted 82% and is currently down 71% year to date.

This is a massive difference from when its shares reached an all-time high of $14.53 in February 2021.

Based on today’s price, Zip presides a market capitalisation of around $853.04 million.

The post The big dipper: Zip share price dives 24% in wild end-of-week ride 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 traded ASX 200 shares on Thursday
• ASX 200 midday update: Rio Tinto drops, tech shares jump, Macquarie impresses
• Zip share price rockets again and is now up 225% in four weeks
• Here are the top 10 ASX 200 shares 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 positions in and has recommended ZIPCOLTD FPO. 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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If you’re an owner of Qantas Airways Limited (ASX: QAN) shares, you might be wondering when you’ll be paid dividends again.

It has been three years since the airline operator last rewarded its shareholders with a share of its profits.

Back in FY 2019, the company paid shareholders a fully franked 25 cents per share dividend.

When will Qantas shares pay a dividend again?

For a company to pay dividends, it needs to be profitable. This is something that has eluded Qantas for the last couple of years because of COVID-19’s impact on the travel sector.

In FY 2020, Qantas recorded a loss of ~$1.95 billion and then in FY 2021 it reported another loss of ~$1.73 billion.

And while things are certainly looking up for Qantas, it is almost certainly going to be too soon for any talk of dividends in FY 2022.

A recent update reveals that the airline expects to deliver a strong EBITDA profit in the second half of FY 2022, but it won’t be enough to prevent a full year loss.

It explained:

While the Group still forecasts a significant full year Underlying EBIT loss for FY22 that includes the worst of the Delta and Omicron impacts as well as restart costs, the business remains on track for 2H22 Underlying EBITDA of between $450 million to $550 million.

Dividends incoming

The good news is that things are looking a lot more positive for FY 2023. Management believes the airline is “on track to return to Underlying profit in FY23.”

In light of this, the team at Citi see scope for a small dividend to be paid in FY 2023.

According to a recent note, the broker has pencilled in a 5 cents per share dividend. And while that won’t generate much income for investors, if they’re patient they might be rewarded.

Citi is forecasting a 20 cents per share dividend in FY 2024. Based on the current Qantas share price of $4.61, this would mean an attractive 4.3% dividend yield.

The post When will Qantas shares pay a dividend again? appeared first on The Motley Fool Australia.

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More reading

• What’s happening to the Qantas share price today?
• ‘At tipping point’: Qantas share price slides as chaos continues
• Why are ASX 200 travel shares having such a stellar session?
• Why are Flight Centre, Webjet, and other ASX travel shares sinking today?
• UBS tips Qantas share price to surge 40%

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.

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The Pointerra Ltd (ASX: 3DP) share price is in the red this morning after the developer and provider of 3D geospatial data technology updated the market on its performance in the June quarter.

Since opening 11% lower at 23.5 cents, the tech stock has posted a slight recovery. The Pointerra share price is trading at 25 cents at the time of writing, representing a 5.66% fall.

Pointerra share price plunges despite record receipts

Highlights of Pointerra’s quarterly activities and cash flow report included:

• Quarterly invoicing came to a record $4.2 million
• Cash receipts grew 21% on those of the prior corresponding period (PCP) to $1.7 million, but that’s down from $2.4 million in the March quarter
• Operating cash flow came to a $1.4 million outflow
• Full-year cash receipts reached $7.9 million – a 93% increase
• Pointerra ended the quarter with $3.6 million of cash and equivalents

The tech company also updated the market on its enterprise sales and annual contract value (ACV) this morning, noting the latter now totals U$18.2 million. That’s US$1.9 million higher than it was at the end of April.

It also rose 86% between the end of the June quarter and the PCP, driven by the deployment of contracts in the United States energy sector, as well as growth across other targeted sectors.

What else happened in the June quarter?

The big news from Pointerra last quarter was of two contracts won in the United States.

A new contract signed with Florida Power and Light could have the potential to bring in at least US$250,000 each year, as could another with NextEra Energy.

The Pointerra share price surged 24% on the back of the announcement in June.

The company also continued improving its platform through the quarter just been.

What’s next?

The company didn’t provide any new earnings guidance today. However, it did provide a sunny outlook.

Revenue and cash from the company’s newer contracts are expected to continue growing this financial year. However, a slight lag is expected as the company works to upload new customers’ legacy data.

It also noted many customers have advocated their peers’ adoption of Pointerra technology, driving down the cost of customer acquisition.  

Pointerra share price snapshot

Both the Pointerra share price and the S&P/ASX All Technology Index (ASX: XTX) have struggled to gain traction this year.

They’ve slipped 37% and 28%, respectively, since the start of 2022.

Longer term, however, the company’s stock is underperforming. It has dumped 40% in the last 12 months. Meanwhile, the All Tech Index has fallen 24%.

The post Pointerra share price tumbles despite 93% increase in full-year cash receipts appeared first on The Motley Fool Australia.

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More reading

• Here’s the Coles dividend forecast through to 2024
• Pointsbet share price tumbles 12% despite reported net-win improvements
• Sezzle share price jumps 46% on Q2 update
• Fundie reveals under-the-radar ASX 300 share ripe for takeover
• Is the AVZ share price still suspended?

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 Pointerra Limited. The Motley Fool Australia has recommended Pointerra 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 Coles Group Ltd (ASX: COL) dividend is among the most popular options on the Australian share market for income investors.

Thanks to its defensive qualities, positive outlook, and generous payout ratio, the supermarket giant’s shares are found in countless income portfolios up and down the country.

In light of its popularity, investors may be curious about what is expected from the Coles dividend in the coming years. Let’s take a look!

Where is the Coles dividend heading?

Firstly, let’s start with what has already been paid. In FY 2021, the company declared a fully franked 61 cents per share dividend.

According to a note out of Citi, its analysts expect a small year on year increase to 63 cents per share in FY 2022. Based on the current Coles share price of $18.79, this will mean a yield of 3.35% for investors.

The good news is that the broker is then expecting a big jump in both its earnings and its dividend in FY 2023. Citi is forecasting a 72 cents per share fully franked dividend for that financial year. At current levels, this will mean a yield of approximately 3.8% for investors.

Finally, another increase to the Coles dividend is expected in FY 2024. Citi is forecasting a fully franked 78 cents per share dividend. This will mean an attractive 4.15% dividend yield for investors that year.

Can its shares climb higher?

Citi sees only modest upside in the Coles share price following its recent gains.

The note reveals that its analysts currently have a buy rating and $19.30 price target on its shares.

Though, the broker concedes that it sees “upside risk to our forecasts if the [food inflation related shopping] volume response is muted.”

The post Here’s the Coles dividend forecast through to 2024 appeared first on The Motley Fool Australia.

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• Analysts name 2 ASX dividend shares with good yields to buy
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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 COLESGROUP DEF SET. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Pointsbet Holdings Ltd (ASX: PBH) share price is tumbling in morning trade, down 12.2% after opening 4% higher.

Pointsbet shares closed yesterday trading for $3.57 and are currently trading at $3.14.

This comes following this morning’s release of the S&P/ASX 200 Index (ASX: XJO) corporate bookmaker’s quarterly results for the three months ending 30 June (Q4 FY22).

Pointsbet share price falls despite improving win margins

• Total net win increased 41% year-on-year to $85.8 million, up from $60.8 million
• Sports betting net win increased 32% from Q4 FY21 to $78.5 million
• iGaming net win increased 400% from the prior corresponding period to $7.3 million
• Completed a $94.2 million strategic investment and partnership with SIG Sports Investment Corp for a 12.76% stake
• $472.7 million in total corporate cash and cash equivalents as at 30 June

What else happened during the quarter?

The Pointsbet share price also isn’t getting a boost today from the 32% year-on-year increase in turnover/handle the company reported. That’s the dollar amount wagered by clients before any winnings are paid out or losses incurred.

Turnover/handle hit $1.30 billion in Q4 FY22, up from $986 million in Q4 FY21.

The company also reported on its full 2022 financial year total net win, which leapt 48% from FY21, up to $309.4 million.

Pointsbet said its new partnership with SIG Sports, a member of the Susquehanna International Group of Companies, will help it grow and compete in the North American sports betting market.

During the quarter, Pointsbet’s European branch also entered an exploratory agreement with Nellie Analytics Limited, itself a member of the SIG Group.

According to the release, Nellie Analytics will provide exclusive sports analytical services to “complement and enhance the operational capabilities of PointsBet Europe and accelerate the company’s technology roadmap as it relates to highly sophisticated risk management and trading algorithms, with a focus on in-play in the North American market”.

Pointsbet share price snapshot

With today’s big slide factored in, the Pointsbet share price is down 54% in 2022. That compares to a year-to-date loss of 8% posted by the ASX 200.

The post Pointsbet share price tumbles 12% despite reported net-win improvements appeared first on The Motley Fool Australia.

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More reading

• Here are the top 10 ASX 200 shares today
• Here’s why the Pointsbet share price tumbled 10% today
• Here are the top 10 ASX 200 shares today
• Why has the Pointsbet share price launched 7% today?
• Why did the Pointsbet share price leap 7% on Thursday?

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 Pointsbet Holdings Ltd. The Motley Fool Australia has recommended Pointsbet Holdings Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Sezzle Inc (ASX: SZL) share price is on the move again on Friday following the release of the company’s second quarter update.

In morning trade, the buy now pay later (BNPL) provider’s shares are up 46% to $1.49.

Sezzle share price higher on modest Q2 growth

• Underlying Merchant Sales (UMS) increased 1.9% year on year to US$419.1 million
• Total Income grew 6.8% to US$29.3 million
• Percentage of UMS labelled as uncollectible accounts receivable declined to 1.9%
• Transaction expense as a percentage of UMS improved 20bps quarter on quarter to 2.4%.
• Active merchants rose 19% year on year to 47,900
• Active consumers up 18.2% year on year to 3.4 million

What happened during the quarter?

For the three months ended 30 June, Sezzle delivered a 1.9% increase in UMS to US$419.1 million. Management advised that this reflects softer consumer spending in the United States in April and May before a rebound in June.

Things were more positive for its total income, which grew 6.8% to US$29.3 million. This reflects the company’s recent initiatives on driving toward profitability, such as renegotiations with merchant partners and offboarding unprofitable merchants.

Speaking of profitability, Sezzle revealed that it has taken several actions representing over US$40 million in expected annualised revenue and cost savings to improve its free cash flow and accelerate its path to profitability.

As well as offboarding or renegotiating rates with merchants, it has improved its virtual card network revenue share, reduced its workforce, scaled back efforts in Europe and Brazil, ceased payment processing in India, reduced third-party spend, and launched its Sezzle Premium subscription product.

The latter provides consumers a number of additional features and benefits relative to the company’s core pay in four product. As of 27 July 2022, total subscriptions were over 47,000.

Management commentary

Commenting on its cost-saving action, Sezzle’s executive chairman and CEO, Charlie Youakim, said:

In the last few months, we have launched US$40.0 million worth of revenue and cost savings initiatives, as we move towards profitability and positive free cash flow generation, and we believe the results of those actions are starting to show.

We expect to see the full benefit of these initiatives on a run-rate basis by year end, and coupled with additional actions we are taking, we anticipate achieving positive monthly net operating income (excluding stock-based compensation and non-recurring charges) by year end. We recognize these initiatives may be at the expense of growth, but believe it is the prudent move for Sezzle at this time.

The post Sezzle share price jumps 46% on Q2 update appeared first on The Motley Fool Australia.

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More reading

• Sezzle share price surges another 40% following speeding ticket response
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• Own Sezzle shares? Here’s why the BNPL company is suing GameStop
• How to beat the market with ‘boring’ ASX shares: fundie

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.

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One fund manager has picked out an S&P/ASX 300 Index (ASX: XKO) share that could be a prime takeover target.

Fundies are always looking for opportunities. For most investment picks, investors are looking for ASX shares that could rise in value and/or pay attractive income to shareholders.

However, the smaller we look down the market capitalisation list, the easier it could be for an external party to buy the whole business.

For example, Sydney Airport was recently taken off the ASX boards in a multibillion-dollar takeover. Big deals can happen.

There have been plenty of other takeovers over the years, including MYOB, Australian Pharmaceutical Industries (API) and Crown.

It’s hard to say for sure if a business is going to become a takeover target, but if it has attractive assets which are not valued highly by the market, or has an attractive earnings profile, then other businesses, superannuation funds or private equity could want to buy that company.

Which ASX 300 share could be a takeover target?

The fund manager Tim Canham from investment outfit First Sentier has named a potential takeover target.

Talking to the Australian Financial Review, Canham was asked if he thinks there are any ASX small cap shares that make appealing takeover targets.

The fund manager named Dalrymple Bay Infrastructure Ltd (ASX: DBI) as that potential opportunity.   

What does it do?

The ASX 300 share describes itself as a “foundation asset”. The Dalrymple Bay Terminal (DBT) aims to provide “safe and efficient” port infrastructure and services for producers and consumers of “high-quality Australian coal exports”.

DBT is supposedly the world’s largest metallurgical coal export facility. It serves as the “global gateway” from the Bowen Basin in Queensland, and the business states it’s a “critical link” in the global steelmaking supply chain.

There are options for capacity expansions to meet “expected strong export demand”.

For shareholders, DBI wants to provide distributions, capital growth, and it will continue to invest.

Why could it be a takeover target?

Canham said, according to the AFR:

We have seen most quality infrastructure stocks picked up by private capital and what I would call “patient capital”. On an attractive yield and with take-or-pay revenues, it looks very defensive in this market environment. The potential for an uplift in its user charges also remains.

According to Morgans, Dalrymple Bay Infrastructure is going to pay a dividend yield of 8.9%.

Share price snapshot

The Dalrymple Bay Infrastructure share price is up around 2% since the start of 2022 and 5% over the past month. However, it is down 5% over the past year.

It closed flat on Thursday at $2.07, giving the ASX 300 share a market cap of $1.02 billion.

The post Fundie reveals under-the-radar ASX 300 share ripe for takeover appeared first on The Motley Fool Australia.

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More reading

• Why Macquarie warns consensus earnings growth for ASX 300 shares in FY23 is ‘optimistic’
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Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has 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 AVZ Minerals Ltd (ASX: AVZ) share price was scheduled to return to trade on Friday after being suspended for over two and a half months.

But yet again, the lithium developer has requested that its shares remain out of action for a further two weeks.

What’s happening with the AVZ share price?

Back on 9 May, the AVZ share price was slammed into a trading halt while the company dealt with an ownership battle.

This relates to the ownership of the Dathcom Mining SA (Dathcom) business, which is the owner of the licence for the massive Manono Lithium Project in the Democratic Republic of the Congo.

While there is no dispute that AVZ is an owner of Dathcom, the issue is how much the company will ultimately own.

China’s Jin Cheng Mining Company claims to have snapped up a stake from La Congolaise D’Exploitation Miniere SA. And while AVZ has labelled this as a “meritless claim”, it hasn’t stopped Jin Cheng from taking the company to an arbitration.

The concern is that if things don’t go in the company’s favour, it could be left with a stake as little as 36%. This includes the proposed sale of a 24% interest to Suzhou CATH Energy Technologies.

What’s the latest?

It looks as though the AVZ share price will be out of action for at least three months in total.

This morning the company revealed that it hasn’t settled the aforementioned dispute and has requested that its suspension continue until the middle of August. It explained:

The Company advises that the subject of the initial trading halt request remains incomplete and requests a further extension to the voluntary suspension until the commencement of trade on 15 August 2022 or an earlier announcement to the market regarding its mining and exploration rights for the Manono Project.

The post Is the AVZ share price still suspended? appeared first on The Motley Fool Australia.

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More reading

• 5 things to watch on the ASX 200 on Friday
• ASX 200 midday update: Rio Tinto’s update, BHP and Fortescue sink, AVZ remains suspended
• What’s going on with the AVZ share price?
• 5 things to watch on the ASX 200 on Friday
• Why did the AVZ share price thump the market in FY22?

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.

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S&P/ASX 200 Index (ASX: XJO) mining shares have struggled recently, and Iluka Resources Limited (ASX: ILU) hasn’t dodged its sector’s carnage.

The mineral sands producer’s stock is currently trading at $9.59. That’s 25% lower than the record high it reached in April. Meanwhile, the S&P/ASX 200 Materials Index (ASX: XMJ) is down 10% year to date.

But First Sentier senior portfolio manager Tim Canham appears bullish on the Iluka share price. The fundie reportedly believes the materials share is undervalued and ready to benefit from a lack of supply.

Let’s take a closer look at what the expert has tipped will drive the ASX 200 mining share higher.

ASX 200 mining share tipped to take off

Iluka is an ASX 200 mineral sands miner developing and operating projects across Australia. From its mineral sands, Iluka produces minerals such as zircon, titanium, and rare-earth elements.

Canham believes there’s plenty to be hopeful about when it comes to mineral sands. The fundie told the Australian Financial Review:

[T]here are headwinds from global recession fears and Chinese housing issues, but the fundamental lack of supply in mineral sands products is very real.

Canham also thinks Iluka’s push to construct a rare earth refinery in Western Australia is “misunderstood by the market and undervalued”, continuing:

As a manufacturing destination, [Western Australia] looks attractive with some of the lowest gas prices in the world.

Iluka has doubled down on its Australian business recently. It spun out its West African mineral sands leg into Sierra Rutile Holdings Limited (ASX: SRX) earlier this week.

And Canham isn’t the only expert expecting big things from the ASX 200 mining share.

Goldman Sachs has slapped Iluka shares with a $13.80 price target and a buy rating, my Fool colleague James reports. That implies a potential 44% upside.

The post ‘Misunderstood by the market’: Why this fundie says this ASX 200 mining share is undervalued right now appeared first on The Motley Fool Australia.

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More reading

• Here’s why experts say these are the ASX mining shares to buy now
• Why Block, Iluka, Nitro, and Novonix shares are dropping today
• Why is the Iluka share price sinking today?
• 5 things to watch on the ASX 200 on Wednesday
• Goldman Sachs names 2 ASX shares as conviction buys

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 Goldman Sachs. 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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