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If you’re looking for income, then the ASX 200 could be a great place to start. The benchmark index is filled with quality companies that share a good portion of their profits with shareholders.

Two that have been tipped as buys recently are listed below. Here’s what you need to know about these dividend shares:

South32 Ltd (ASX: S32)

The first ASX 200 dividend share to consider is South32. It is a diversified mining and metals company producing alumina, aluminium, bauxite, copper, energy and metallurgical coal, lead, manganese, nickel, silver, and zinc.

Thanks to strong demand and favourable prices for its products, analysts are tipping South32 to generate significant free cash flow over the coming years.

So much so, the team at Citi is forecasting very big dividends in the coming years. For example, it expects a 38 cents per share dividend in FY 2022 and then a 40 cents per share dividend in FY 2023. Based on the current South32 share price, this will mean yields of over 10% in both years.

Citi has a buy rating and $5.50 price target on the company’s shares.

Telstra Corporation Ltd (ASX: TLS)

Another ASX 200 dividend share to consider is Telstra. Thanks to the successful execution of its T22 strategy and the upcoming T25 strategy, it is expecting to return to growth at long last in the near future.

For example, Telstra’s CEO, Andrew Penn, highlighted that T22 was based on transforming the company, whereas T25 will be about driving growth. He is targeting high-teens underlying earnings per share compound annual growth rates from FY 2021 to FY 2025.

Morgans remains positive on Telstra and continues to forecast fully franked 16 cents per share dividends in FY 2022 and FY 2023. Based on the latest Telstra share price, this will mean 4% yields for investors.

The broker also sees plenty of upside for its shares with its add rating and a $4.56 price target.

The post Analysts name 2 top ASX 200 dividend shares to buy appeared first on The Motley Fool Australia.

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More reading

• Here are the 3 most heavily traded ASX 200 shares on Wednesday
• Are Telstra shares still worth holding for dividend income today?
• ‘We have clearly seen the peak’: Sector veteran gives earnings season warning for ASX mining shares
• Here are the 3 most heavily traded ASX 200 shares on Tuesday
• Can the South32 share price bounce back in FY23?

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 owns and has recommended Telstra Corporation Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The BrainChip Holdings Ltd (ASX: BRN) share price soared again today, leaping a further 6.64%.

Brainchip shares have jumped 39% from 86.5 cents at market close on Friday to $1.205 at market close at the close of today’s trade.

Let’s take a look at why BrainChip has had such a good week.

What’s going on?

Brainchip shares have soared this week despite no news out of the company. However, the technology sector has been surging this week.

The S&P ASX All Technology (ASX: XTX) index has lifted 7.88% since market close on Friday. Life360 Inc (ASX: 360) shares have stormed nearly 22.22% in the same time frame, while the Novonix Ltd (ASX: NVX) share price has soared 23.27%.

This follows heavy gains on the United States NASDAQ Composite Index in the past week. The NASDAQ has lifted nearly 8% in the past five trading days.

In the United States, the US passed CHIPS Act legislation this week providing $50 billion in subsidies for computer chip manufacturing, CBS reported.

Brainchip is a global artificial intelligence (AI) chip maker with a presence in the USA, France, Australia and India.

A report cited by Globe Newswire on Monday suggested the artificial intelligence (AI) market could be worth US$133.8 billion by 2030.

Technology shares have lifted globally this week amid technology earnings reports beating market expectations, the Wall Street Journal reported.

Commenting on the performance of technology shares, B. Riley, FBR Inc chief market strategist Art Hogan said:

Technology and consumer services have been some of the most beaten-down segments of the market. Now risk appetite is coming into those areas.

Brainchip share price snapshot

The Brainchip share price has exploded nearly 162% in the past year, while it has surged 77% year to date.

Brainchip has a market capitalisation of nearly $2.1 billion based on the current share price.

The post BrainChip share price leaps again, up 40% this week appeared first on The Motley Fool Australia.

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More reading

• Why is the BrainChip share price storming 9% higher?
• Why did the BrainChip Holdings share price leap 14% on Monday?
• Here’s a look at the 5 best ASX All Ords tech shares in FY22
• How Brainchip shares gained 63% in a year when tech stocks nosedived
• Why did the BrainChip share price crash 30% in June?

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 Lottery Corporation Ltd (ASX: TLC) share price has been able to dodge the worst of falling markets so far this year. Although, the question is: will that hold true after presenting some numbers?

That time of the year when we get an updated look at the financials of ASX-listed companies is fast approaching. For the Lottery Corp, this day is expected to arrive on 24 August — with the lottery business slated to post its maiden full-year results as a standalone company.

In the meantime, investors looking to allocate capital will be attempting to evaluate whether Lottery Corp shares are worth their time. For those eager individuals, there are 34 days between now and the release of results.

Before making a decision, it might be worthwhile looking at what experts are saying about the Lottery Corp share price.

Finding favour among experts

Amid the heightened volatility and global destabilisation, many investors are seeking out predictability. As such, the newly demerged lottery business operating as the aptly named Lottery Corporation is finding a home among defensive investors.

As my colleague Tony Yoo covered, Morgans senior analyst Alexander Mees forecasts a steady performance in the upcoming results. According to the analyst, the company’s earnings before interest, tax, depreciation, and amortisation (EBITDA) could increase by 13% to $691 million.

In the light of the positive expectations, the Morgans team has assigned an ‘add’ rating to the Lottery Corp share price.

Another market commentator shining an optimistic light on Lottery Corp shares is Shaw and Partners senior investment adviser Adam Dawes. In a recent interview, Dawes discussed the potential for the company to receive a takeover bid.

According to Dawes, the Star Entertainment Group Ltd (ASX: SGR) might find the value proposition within the Lottery Corp attractive. However, the adviser caveated this statement, saying that is merely speculation at this stage.

How has the Lottery Corp share price performed?

Shares in Lottery Corp have weakened by approximately 4.7% since listing in May this year. However, the S&P/ASX 200 Index (ASX: XJO) is also down 4.7% over the same time frame.

The company currently holds a market capitalisation of $9.9 billion, giving it a price-to-earnings (P/E) ratio of approximately 43 times based on its 12-month trailing earnings at the end of December 2021.

The post Is the Lottery Corp share price a buy ahead of earnings season? appeared first on The Motley Fool Australia.

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More reading

• 2 ASX shares that could be takeover targets: expert
• Players gonna play: 3 ASX shares set for a strong reporting season
• How many global mega deals involved ASX 200 shares in the first half of 2022?
• Here are the top 10 ASX shares today

Motley Fool contributor Mitchell Lawler 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 Brickworks Limited (ASX: BKW) share price has rallied more than 10% in the past month of trade.

At the market close on Thursday, the share was up 2.4% to $20.13 on no news from the company. The S&P/ASX 200 Materials Index (ASX: XMJ) finished down 0.1%.

The share price performance of Brickworks versus the index over the past three months is plotted below.

What’s up with the Brickworks share price?

Brickworks shares began to strengthen from 15 June and have continued in an uptrend ever since.

This is despite the materials sector pushing to its lowest levels in three months.

In that time, numerous macroeconomic events have weighed on financial markets. These range from rising inflation data, rising interest rates, and a strong US dollar.

While there’s been no price-sensitive news out of the Brickworks camp since March, other catalysts for share price movement have been at play.

Have broker upgrades bumped up the value?

Noteworthy are four broker upgrades in that time. Three of these affirmed the buy rating for Brickworks, according to Refinitiv Eikon data.

Ord Minnett reiterated its buy rating from earlier in the year, valuing the company at $26 per share.

Meanwhile, Macquarie analysts narrowed their rating to neutral on a $24 per share valuation.

Just 42% of the analysts covering the share rate it as a buy, according to Refinitiv.

However, the consensus price target is $24.74, suggesting a return potential of 24% at last check.

In the past 12 months, the Brickworks share price has fallen 18.7%. It is down 18.5% this year to date.

The post Why has the Brickworks share price leapt 10% in a month? appeared first on The Motley Fool Australia.

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More reading

• Why cheap hamburgers could give beginner ASX share investors food for thought
• 2 ASX dividend shares I’d buy with $2,000 right now
• This tiny ASX share flew 14% on Friday following investment by Brickworks
• 5 worst ASX energy shares of FY22
• Here’s why Brickworks might be one of the ASX’s best dividend shares

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 positions in and has recommended Brickworks. The Motley Fool Australia has positions in and has recommended Brickworks. 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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S&P/ASX 200 Index (ASX: XJO) shares had a wobbly start to today’s session before steadying in the green this afternoon. The index closed 0.52% higher at 6,794.30 points.

The S&P/ASX 200 Information Technology Index (ASX: XIJ) led the way today, gaining more than 3%.

It was driven higher by Link Administration Holdings Ltd (ASX: LNK)’s recommended $4.81 per share takeover bid and the surging Novonix Ltd (ASX: NVX) share price.

On the other end of the spectrum was the S&P/ASX 200 Energy Index (ASX: XEJ). It slumped almost 3% amid falling oil prices and results from some of the sector’s biggest players.

Shares in both Santos Ltd (ASX: STO) and Woodside Energy Group Ltd (ASX: WDS) slipped despite the companies posting seemingly strong earnings for the June quarter. Readers can find Santos’ latest earnings here and Woodside’s here.

The Brent crude oil price fell 0.4% to US$106.92 a barrel overnight, while the US Nymex crude price dropped 1.9% to US$102.26 a barrel.

All in all, seven of the ASX 200’s 11 sectors were in the green at market close. But which shares posted the biggest gains? Keep reading to find out.

Top 10 ASX shares countdown

And the top-performing share in the ASX’s 200 biggest companies by market capitalisation is, of course, Link Administration.

Coming in second best is Liontown Resources Limited (ASX: LTR). The company’s share price has been on a roll lately, gaining around 26% over the last 30 days. Find out what the lithium stock has been up to here.

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

ASX-listed company	Share price	Price change
Link Administration Holdings Ltd (ASX: LNK)	$4.46	12.63%
Liontown Resources Limited (ASX: LTR)	$1.24	11.21%
Latitude Group Holdings Ltd (ASX: LFS)	$1.70	7.59%
Chalice Mining Ltd (ASX: CHN)	$4.38	6.83%
Block Inc (ASX: SQ2)	$107.03	6.71%
Core Lithium Ltd (ASX: CXO)	$1.07	6.50%
Iluka Resources Limited (ASX: ILU)	$9.78	5.84%
Pro Medicus Ltd (ASX: PME)	$51.17	5.68%
ALS Ltd (ASX: ALQ)	$11.20	5.16%
REA Group Ltd (ASX: REA)	$127.74	5.03%

Data as at 4.30pm AEST.

Our top 10 ASX shares today countdown is a recurring end-of-day summary to ensure you know which companies were making big moves on the day. Check in at Fool.com.au after the market has closed during weekdays to see which stocks make the countdown.

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

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More reading

• Got $1,000? You can buy 85 Treasury Wine shares… or one bottle of Penfolds Grange!
• Why has the Pro Medicus share price surged 32% in a month?
• Here are the 3 most heavily traded ASX 200 shares on Thursday
• 3 ASX All Ordinaries shares going great guns on Thursday
• 3 ASX 200 tech shares having a stellar session today

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 Block, Inc., Link Administration Holdings Ltd, and Pro Medicus Ltd. The Motley Fool Australia has positions in and has recommended Block, Inc. and Pro Medicus Ltd. The Motley Fool Australia has recommended REA 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 Treasury Wine Estates Ltd (ASX: TWE) share price rose by 0.86% to finish the session at $11.70 today.

That’s a little better than the performance of the S&P/ASX 200 Index (ASX: XJO), which, after a volatile session, finished the day up 0.5%.

The current Treasury Wine share price means that if an investor had $1,000 to drop, they’d be able to nab themselves 85 shares, with some change left over.

But that same $1,000 would also get that investor just one bottle of Treasury’s flagship top-shelf wine – Penfolds Grange.

According to reporting in the Australian Financial Review (AFR), Treasury has just released the pricing for its latest Grange range.

The 2018 vintage is scheduled to be available to purchase from 4 August. But this is the first bottle of Grange that will be sold out of the gate with a four-figure price tag.

One bottle of Grange or 85 Treasury shares?

Vintage bottles of Grange have been known to sell for tens of thousands of dollars. One even undid a New South Wales premier a few years ago. But this value usually only comes with the benefit of hindsight, and years of ageing.

Penfolds’ 2016 and 2017 Grange vintages reportedly came with a price tag of $950. But Treasury has upped its pricing this year.

Perhaps this is due to inflation. After all, we have seen the highest inflation figures for decades over this year so far for the Australian economy.

But perhaps Treasury Wine is just upping its prices because, well, it can. Penfolds managing director Tom King did tell the AFR this:

It’s clear consumers continue to have a strong appetite for premium and luxury wines, with a shift over the last couple of years of buying less, but more expensive wine … We see increasing demand for Penfolds luxury wines in all markets around the world.

Either way, it’s certainly good news for the company, and for investors by extension. Wine lovers? Less so.

Treasury Wine share price snapshot

The Treasury Wine share price has struggled in recent years. The company remains down 6.4% in 2022 thus far, as well as down 1.9% over the past 12 months.

Treasury shares have also recorded a five-year loss of almost 8% on current pricing.

At the current price, this ASX 200 consumer staples share has a market capitalisation of $8.43 billion with a dividend yield of 2.4%.

The post Got $1,000? You can buy 85 Treasury Wine shares… or one bottle of Penfolds Grange! appeared first on The Motley Fool Australia.

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More reading

• Here are the top 10 ASX shares today
• Here are the 3 most heavily traded ASX 200 shares on Thursday
• RBA in the spotlight; and Westpac hikes fixed rates. Scott Phillips on Nine’s Late News
• ASX 200 midday update: ANZ’s capital raising, Link jumps, Zip’s Q4 update
• Here’s why Macquarie thinks these 2 ASX 200 shares can outperform

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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The Pro Medicus Limited (ASX: PME) share price has been surging higher in recent weeks. It closed 5.7% higher at $51.17 on Thursday and is now up 32% in a month.

This year has been a volatile one for the ASX healthcare share. It climbed above $66 earlier in the year before falling below $38 in mid-June. But it has been going upwards since then.

The company may have partly gone up as part of a broader recovery along with many other ASX growth shares. For example, the Xero Limited (ASX: XRO) share price has risen 18% over the past month and the REA Group Limited (ASX: REA) share price has soared by around 23%. The S&P/ASX 200 Index (ASX: XJO) is up by more than 4% over the same timeframe.

But, the rise that Pro Medicus has experienced only recovers some of the lost ground — the current price represents a fall of around 19% this year to date.

Contract wins

Pro Medicus announced in mid-June that its Visage Imaging business had signed two contract renewals with a combined minimum value of $47 million. These two were Sutter Health, which renewed for seven years, and Wellspan Health, which renewed for five.

The contract renewals are transaction-based with committed minimums with potential upside.

For me, and perhaps investors, a key element from the update was that the renewals were negotiated at an increased fee per transaction compared to the original contracts.

Pro Medicus CEO Dr Sam Hupert explained why this update was so positive:

The industry norm for renewals is for short extensions to the original contract at the same or lower price. The fact that our clients have renewed for a full or longer contract term at an increased price supports our belief that the Visage solution delivers unparalleled value both in terms of financial and clinical ROI (return on investment).

Whilst it is still early days, our renewal success rate sends a positive message to the market and helps build on the network effect that we have been experiencing.

Extremely profitably

Pro Medicus has one of the highest earnings before interest and tax (EBIT) margins on the ASX. In the FY22 half-year result, the EBIT margin was 65%. This helped net profit after tax (NPAT) grow by 52.7% to $20.7 million, which then funded a 42.9% rise of the interim dividend to 10 cents per share.

Any new revenue that the company generates is being turned into profit at a high rate. Therefore, contract wins and contract renewals (with a higher fee per transaction) can help Pro Medicus’ profit. Rising profit can be an important factor for pushing the Pro Medicus share price higher.

Pro Medicus share snapshot

Despite its recent gains, the Pro Medicus share price remains 12% over the past 12 months.

At the current share price, the company has a market capitalisation of $5 billion, according to the ASX.

The post Why has the Pro Medicus share price surged 32% in a month? appeared first on The Motley Fool Australia.

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More reading

• Why Pro Medicus, St Barbara, Vulcan, and Whitehaven Coal are pushing higher
• Why Goldman Sachs just upgraded Pro Medicus shares
• 5 things to watch on the ASX 200 on Friday
• Here are the top 10 ASX shares today
• What on earth happened to ASX 200 tech shares in June?

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 Pro Medicus Ltd. The Motley Fool Australia has positions in and has recommended Pro Medicus 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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Sezzle Inc (ASX: SZL) shares are enjoying a strong run today, up 9.3% to 24 cents.

This will surely be welcome news to battered Sezzle shareholders.

The ASX buy now, pay later (BNPL) company has been under heavy selling pressure since mid-2021. And the scrapping of its merger with Zip Co Ltd (ASX: ZIP) last week Tuesday saw Sezzle shares tumble another 38% on the day.

In the latest news, Sezzle is suing United States-based GameStop Corp (NYSE: GME) for an alleged breach of contract.

Why is GameStop being sued?

Sezzle stated that it’s suing GameStop for the company’s failure to maintain links to its BNPL services throughout its website.

Sezzle said it had a two-year merchant agreement with GameStop as of November 2020 for use of its payments platform. The company alleges that GameStop violated this agreement when it removed Sezzle’s “functionality from its cart page and product detail pages without notifying Sezzle in direct breach of the contract”.

According to Sezzle, when GameStop was approached about the breach of contract, it terminated Sezzle without notice and now is no longer paying its invoices.

GameStop did reportedly admit that it had removed Sezzle’s widget and that currently Sezzle is not used on its website.

Sezzle said it is now asking for $1.4 million in damages and related service fees that GameStop has failed to pay. The BNPL share is also looking to recoup marketing expenses it spent on GameStop’s behalf.

How have Sezzle shares been tracking?

Despite the big leap higher today, Sezzle shares remain well down over the medium term.

Year-to-date, the Sezzle share price is down 92%, which compares to a 12% loss posted by the All Ordinaries Index (ASX: XAO) so far in 2022.

Over the past 12 months the picture is even gloomier, with Sezzle having tanked a painful 97%.

The post Own Sezzle shares? Here’s why the BNPL company is suing GameStop appeared first on The Motley Fool Australia.

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More reading

• How to beat the market with ‘boring’ ASX shares: fundie
• 3 ASX All Ords shares sidestepping the selling today
• Penny-pincher: Where Sezzle shares could be heading from here
• What’s the outlook for ASX BNPL shares in FY23?
• Why Galileo Mining, Platinum, Sezzle, and Woodside shares are dropping

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 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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The Fortescue Metals Group Limited (ASX: FMG) share price is suffering on Thursday.

Interestingly, it’s joined in the red by its fellow S&P/ASX 200 Index (ASX: XJO) iron ore giants despite the price of the steel making commodity lifting overnight.

At the time of writing, the Fortescue share price is $17.60, 1.68% lower than its previous close.

For comparison, the S&P/ASX 200 Index (ASX: XJO) is currently up 0.11% while the S&P/ASX 200 Materials Index (ASX: XMJ) is slipping 0.77%.

So, what could be going wrong for ASX 200 iron ore goliaths today? Let’s take a look.

What’s weighing on the Fortescue share price today?

The Fortescue share price is in the red today alongside those of BHP Group Ltd (ASX: BHP) and Rio Tinto Limited (ASX: RIO). They’re each down between 1.6% and 2.8% right now.

And while some of Rio Tinto’s downfall could be to do with a near-$1 billion tax settlement, the heavy weights’ suffering doesn’t have an obvious explanation.

Particularly, as iron ore futures lifted 0.9% overnight to reach US$104.01 a tonne.

One reason behind today’s tumble could be profit taking. The materials sector leapt 2.5% yesterday with the Fortescue share price among its leaders. The stock rose 5.23% on Wednesday.

Additionally, it could be impacted by reports of China’s new national iron ore company. A new entity, dubbed China Mineral Resources Group, has been set up to snap up iron ore to supply Chinese steel producers, reports ABC News.

The news could birth concerns that a body charged with consolidating iron ore purchases could force down iron ore prices.

However, the publication reports insiders are unconcerned for now. Indeed, Fortescue boss Andrew ‘Twiggy’ Forrest brushed off concerns of a ‘Chinese ore cartel’ last month.

The post What’s going wrong for the Fortescue share price on Thursday? appeared first on The Motley Fool Australia.

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

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The Vulcan Energy Resources Ltd (ASX: VUL) share price is surging today after electric vehicles (EV) pioneer Elon Musk described lithium processing as “a licence to print money” with “software margins”.

Vulcan Energy hopes to become a producer of high-purity lithium hydroxide for European EV manufacturers. Its Zero Carbon Lithium Project aims to produce both renewable geothermal energy and lithium hydroxide from the same deep brine source in the Upper Rhine Valley in Germany.

So, it’s little wonder that ASX investors appear to have reacted positively to Musk’s comments.

At the time of writing, the Vulcan Energy share price is up 6.8% to $6.95.

Did Elon Musk just boost the Vulcan Energy share price?

Musk made the comments during a Q&A with institutional investors today. The Q&A was part of the Q2 FY22 presentation from Telsa Inc (NASDAQ: TSLA).

Musk said:

The mining is relatively easy, the refining is much harder. There’s lithium pretty much everywhere but you have to refine the lithium into battery-grade lithium carbonate and lithium hydroxide, which has to be extremely high purity.

So it is basically like minting money right now. There’s like software margins in lithium processing right now. So I really like to encourage once again, entrepreneurs who enter the lithium refining business, you can’t lose — its a licence to print money.

The lithium price rollercoaster

The price of lithium carbonate has soared over the past 18 months to a peak of about US$73,570 in March. It has been more volatile in recent times.

Overnight, the value of lithium was steady at US$70,318 per tonne. That’s up 434.27% year over year.

New lithium miners have cropped up all over the world to cash in on the boom, with an anticipated increase in supply likely to weaken the price of the commodity. That’s according to top broker Goldman Sachs, which issued a bearish outlook for ASX lithium shares in June.

In the Q&A, Musk acknowledged that commodity prices were decreasing.

Musk said: “…for most commodities, we’re seeing a downward trend towards the end of this year or next year.”

What’s the latest from Vulcan Energy?

In a corporate presentation released to the ASX on 12 July, Vulcan outlined its progress in its lithium division.

This included the ongoing scaling up of its Pilot Plant 1, with ‘live’ geothermal brine being used to create “consistent lithium concentration and low level of impurities”.

It also expects to commission the construction of its much larger demonstration plant in late Q4 2022. The company said 80% of the equipment was now ordered, and design work was being finalised.

Other ASX lithium shares also up today

Other ASX lithium shares have surged along with the Vulcan Energy share price following Musk’s comments.

Pilbara Minerals Ltd (ASX: PLS) shares are up 2.6%, the Allkem Ltd (ASX: AKE) share price is up 1.4%, while shares in IGO Ltd (ASX: IGO) are up 0.6%.

In comparison, the All Ordinaries Index (ASX: XAO) is up 0.2%.

The post Why is the Vulcan Energy share price leaping 7% on Thursday? appeared first on The Motley Fool Australia.

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More reading

• Tesla sells 75% of Bitcoin holdings. Here’s why Elon Musk is unloading
• Tesla share price powers up on 42% revenue jump
• Why is the Core Lithium share price surging 7%?
• Why Tesla stock popped today
• What’s the ahead for the Vulcan Energy share price?

Motley Fool contributor Bronwyn Allen has positions in Allkem Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Tesla. 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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