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Are you interested in adding some ASX 200 shares to your portfolio this month? If you are, you may want to look at the ones listed below that have recently been named as buys.

Here’s what you need to know about them:

Breville Group Ltd (ASX: BRG)

The first ASX 200 share to look at is Breville. It is the leading appliance manufacturer behind brands including Sage, Kambrook, Baratza, and of course, Breville. Thanks to its investment in product development, these brands and their products have been resonating well with consumers for many years and are found in kitchens across Australia and the globe.

This has underpinned solid sales and earnings growth over the last decade. And thanks to its continued investment in research and development and global expansion, it has been tipped to continue this trend long into the future.

Morgans is very positive on Breville. The broker currently has an add rating and $25.00 price target on its shares.

Goodman Group (ASX: GMG)

Another ASX 200 share for investors to look at is Goodman Group. It is a leading integrated commercial and industrial property company that owns a portfolio of in-demand properties with exposure to key growth markets such as ecommerce and logistics. The good news is that demand remains strong and its development pipeline is filled to the brim with properties that look set to support its growth in the 2020s.

A testament to just how strong demand is, is that Goodman recently upgraded its FY 2022 earnings guidance yet again. Instead of 20% growth, the company now expects to deliver operating earnings per share growth of at least 23% this year.

Goldman Sachs is a fan of Goodman. It currently has a buy rating and $25.40 price target on its shares.

The post 2 excellent ASX 200 shares to buy right now according to experts appeared first on The Motley Fool Australia.

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More reading

• Down 28% so far this year, could the Goodman share price be ready to take off?
• Brokers: Buy these 2 leading ASX 200 shares in July
• 2 ASX shares in a sector ready for a massive comeback
• Looking for ASX shares to buy? Here are two analysts rate as buys
• Why experts are tipping these ASX 200 shares as buys

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 S&P/ASX 200 Index (ASX: XJO) is currently having a very bumpy trading session over this Thursday thus far. At the time of writing, the ASX 200 is in the green, but only just, up just 0.11% at a tad over 6,760 points. This comes after the ASX 200 has jumped between gains and losses for most of the day.

But rather than trying to figure all of that out, let’s instead delve deeper into these market moves and check out the shares presently at the peak of the ASX 200’s share trading volume charts, according to investing.com.

The 3 most traded ASX 200 shares by volume this Thursday

Newcrest Mining Ltd (ASX: NCM)

A rare appearance from ASX 200 gold miner Newcrest marks our first ASX share to check out this Thursday. So far today, a notable 13.77 million Newcrest shares have changed hands as it currently stands. This seems to be a response to the operational update the company released to investors this morning.

As my Fool colleague Bronwyn dove into earlier, Newcrest reported that it had met its gold production guidance for FY2022 at a lower cost than expected. Investors have responded positively to this news, with the Newcrest share price currently up by 0.8% at $19.19 a share.

Pilbara Minerals Ltd (ASX: PLS)

ASX 200 lithium stock Pilbara is next up today. So far, a sizeable 18.37 million Pilbara shares have swapped owners on the ASX boards today.

Unlike with Newcrest, we’ve had no news out from Pilbara. So this volume seems to be a result of the machinations of the Pilbara share price itself. This lithium producer has enjoyed a healthy 242% rise so far to $2.54 a share this Thursday.

Lake Resources N.L. (ASX: LKE)

Another ASX 200 lithium stock in Lake Resources rounds out our list today. As it currently stands, a hefty 27.84 million Lake Resources shares have been bought and sold on the share market at this point.

We also haven’t seen any fresh news or announcements out of Lake itself. So again, we have to assume this volume is the result of the Lake Resources share price. This makes sense, seeing as Lake has rocketed a pleasing 7.86% today to 76 cents a share, despite no news out.

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

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More reading

• Newcrest share price up on quarterly results and exploration activities report
• 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
• 5 things to watch on the ASX 200 on Thursday

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

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It was not that long ago the JB Hi-Fi Limited (ASX: JBH) share price could seemingly do no wrong. This was a company that rose by 120% between March 2019 and March 2022, after all.

Not only that, but JB also managed to dramatically ramp up its dividends too. This ASX 200 retailer paid out $1.32 in dividends per share in 2018. But by 2021, this had risen to $2.87 in dividends per share.

And yet, the past financial year has been one of the toughest in recent memory for this company. FY22 saw JB fall from the $50.58 share price it was commanding at the start of the last financial year to the $38.46 it was left with when FY22 wrapped up earlier this month. That’s a painful drop of almost 24%.

As my Fool colleague Tristan went through earlier this month, JB was hurt by falling profits and sales in its report covering the six months to 31 December 2021.

The company also did not exactly inspire investors when it admitted there was “ongoing disruption to stock availability and operations arising from COVID-19 and other local and global uncertainties” during its third-quarter update for FY22.

So with such a painful loss over the financial year just gone, can the JB Hi-Fi share price recover over the new financial year we have just begun?

What’s next for the JB Hi-Fi share price in FY23?

Well, there is one ASX broker who reckons the worst might be behind the JB Hi-Fi share price. As we covered just yesterday, broker Citi has just upgraded JB shares to a buy rating.

That came with a 12-month share price target of $47. That would represent a potential upside of around 9.5% from the $42.92 JB is commanding today (at the time of writing).

Citi anticipates that household spending will remain strong, despite the recent inflation we have seen in the economy, helping to prop up JB’s sales. As such, it sees the current JB share price as favourable.

But other ASX brokers have not been as kind. We’ve also recently covered how Ord Minnet has cut its rating from buy to hold, with a share price target of $42.

Ord Minnet doesn’t have the optimism that Citi does when it comes to inflation and rising interest rates, which it sees as a potential spanner in JB Hi-Fi’s works.

So time will only tell which ASX broker is on the money when it comes to JB shares.

In the meantime, the current JB Hi-Fi share price gives this ASX 200 retailer a market capitalisation of $4.69 billion, with a dividend yield of 6.3%.

The post Down 24% in FY22, can the JB Hi-Fi share price bounce back this year? appeared first on The Motley Fool Australia.

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More reading

• Top brokers name 3 ASX shares to buy today
• Why Iluka, JB Hi-Fi, Megaport, and Zip shares are racing higher
• Why JB Hi-Fi, Mesoblast, Pendal, and Woodside shares are pushing higher
• ASX 200 retail shares rise as consumer confidence improves
• How to beat the market with ‘boring’ ASX shares: fundie

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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The Adore Beauty Group Ltd (ASX: ABY) share price is having another strong day on Thursday.

In afternoon trade, the online beauty retailer’s shares are up 8% to $1.21.

This means that Adore Beauty’s shares are now up an impressive 22% this week.

What’s going on with the Adore Beauty share price this week?

Investors have been snapping up the company’s shares despite there being no real news out of it since April.

However, it is worth highlighting that a number of beaten down loss-making tech shares have been rebounding strongly this week.

Investors appear to believe that they have finally bottomed after falling heavily since the turn of the year.

For example, even after rising 22% this week, Adore Beauty’s shares are still down a very disappointing 70% since the start of the year.

Can it keep rising?

As I mentioned here yesterday, Morgan Stanley remains very positive on the company and sees scope for its shares to climb materially from where they trade today.

The broker currently has an overweight rating and $1.90 price target on its shares.

Based on the current Adore Beauty share price, this implies potential upside of 57% for investors over the next 12 months.

The post Why is the Adore Beauty share price up 22% this week? appeared first on The Motley Fool Australia.

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More reading

• Analysts name 3 exciting small cap ASX shares with major upside potential
• Up 16%: The Adore Beauty share price is soaring higher
• Why did the Adore Beauty share price sink over 70% in FY22?
• Why the Adore Beauty share price fell another 20% in June
• Why I think the Adore Beauty share price is a great buy today

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Adore Beauty Group Limited. The Motley Fool Australia has recommended Adore Beauty 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 Novonix Ltd (ASX: NVX) share price is soaring ahead today.

The company’s share price is currently lifting more than 9.42% to $2.44. For perspective, the S&P/ASX 200 Index (ASX: XJO) is down 0.03% today.

Let’s take a look at what could be impacting the Novonix share price.

What’s going on

Novonix is a technology company operating in the lithium-ion battery industry. The company’s share price may be rising today, but it is not the only technology share in the green.

The S&P/ASX All Technology Index is leaping 2.71% today. BrainChip Holdings Ltd (ASX: BRN) shares are lifting 6.64% today, while Link Administration Holdings Ltd (ASX: LNK) and Block Inc (ASX: SQ2) shares are rising 12% and 5% respectively. The technology heavy NASDAQ-100 Index jumped 1.55% in US markets on Wednesday.

Meanwhile, Tesla CEO Elon Musk has weighed into the battery materials industry today, urging companies to focus on the lithium refining business. Novonix’s work involves enhancing the chemistry, cell designs and material processing technologies for electric batteries.

Speaking in a conference call to investors following Tesla’s financial results, Musk said: “the mining is relatively easy” but the “refining is much harder”.

So the lithium is actually a very common, sort of very, like lithium pretty much everywhere, but you have to refine the lithium into battery grade lithium carbonate and lithium hydroxide, which has the extremely high purity.

So it is basically like minting money right now. There’s like software margins in lithium processing right now.

Meanwhile, the Electric Vehicle Council has revealed there are more than 16,000 people on a wait list for an electric vehicle (EV). CEO Behyad Jafari is calling for a federal fuel standard to increase EV uptake. In comments at the Australian Clean Energy Summit cited by the Financial Review, Jafari said:

I can tell you exactly how many electric vehicles landed on Australian shores last year: it was 20,665 – because that’s how many cars we sold. Every single one that arrived was sold.

Novonix share price snapshot

The Novonix share price has dived 73% year to date, while it has lost 6% in the past year. However, in the past week, the company’s shares have lifted 18.45%.

For perspective, the ASX 200 has lost nearly 8% in a year.

Novonix has a market capitalisation of about $1.2 billion based on the current share price.

The post Why is the Novonix share price surging 9% on Thursday? appeared first on The Motley Fool Australia.

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More reading

• 3 ASX 200 tech shares having a stellar session today
• ‘You can’t lose’: Which ASX lithium shares operate in Musk’s sweet spot?
• Why is the Novonix share price launching 5% higher today?
• Down 76% this YTD, can the Novonix share price claw back gains?
• Novonix shares: What does the next year hold in store?

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

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The Altium Limited (ASX: ALU) share price will be one to watch closely this earnings season.

After a couple of years of modest growth during the pandemic, the electronic design software company is expecting to return to double-digit growth in FY 2022.

What is expected from Altium in FY 2022?

When the company released its half-year results in February, management provided revenue and earnings guidance for the full year.

It advised that it expects to achieve the following:

• Revenue of US$213 million to US$217 million, representing 18% to 20% growth
• Annualised recurring revenue (ARR) growth of 23% to 27%.
• Underlying EBITDA margin of 34% to 36%

Management also suggested that it was likely to hit the high end of its revenue guidance and the low end of its EBITDA guidance.

This would suggest revenue of US$217 million and underlying EBITDA of US$73.8 million.

What are analysts saying?

The good news is that analysts at Bell Potter appear confident the company will achieve its targets.

It recently commented:

Altium has undertaken various marketing initiatives this quarter which, while slightly different to years gone by, suggests the company is again targeting subscriber over revenue growth in H2. This is worth highlighting as Altium has provided both revenue and EBITDA margin guidance for FY22 – US$213-217m and lower end of 34-36% – so there is the potential that these initiatives put at least the revenue guidance at some risk. We do not, however, believe this is the case.

Is the Altium share price good value?

Bell Potter sees value in the Altium share price even after its recent recovery. Its analysts currently have a buy rating and $34.00 price target on its shares.

This implies potential upside of 11% for investors over the next 12 months from current levels.

The post Own Altium shares? Here’s what to expect from its FY22 results appeared first on The Motley Fool Australia.

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More reading

• Broker names 2 ASX growth shares to buy now
• 3 reasons I think Altium is a top ASX growth share
• Chicken and chips: Experts name 3 ASX shares to buy right now
• 2 top ASX 200 shares brokers rate as buys
• Why I think these 2 ASX All Ords shares are at bargain prices in July

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

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It is shaping up to be a relatively solid day for ASX lithium shares on Thursday. At the time of writing, the majority of companies on the ASX associated with the all-important battery commodity are in the green.

However, as Tesla Inc (NASDAQ: TSLA) techno-king Elon Musk outlined during the electric vehicle (EV) manufacturer’s earnings call this morning — not all lithium companies are created equal. In fact, there is one specific part of the lithium value chain in which Musk sees immense economic reward.

Let’s take a closer look at what Musk said and the ASX lithium shares it might involve.

Money printing machine within lithium

This morning, shareholders listened attentively to Tesla’s second-quarter earnings call. But for some investors, Elon Musk’s comments around lithium took centre stage. In answering a question about how inflation will affect EV prices, Musk shared his insights into the lithium industry.

For most commodities, we’re seeing a downward trend towards the end of this year or next year. Some commodities… the processing of lithium is insane. I’d like to once again, urge entrepreneurs to enter the lithium refining business.

On initial inspection, Musk’s expectation for commodity prices to trend lower may not sound too optimistic for ASX lithium shares. However, the serial entrepreneur quickly draws a line in the sand, putting ‘lithium refining’ in a separate category.

Elon Musk reiterated the attractive economics offered in lithium refining at the moment, stating:

It [lithium refining] 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, it’s a license to print money.

ASX lithium shares soar in response

Following this morning’s comments, many ASX lithium shares have gone on a stampede to the upside. For example, here are some of the best-performing lithium companies today:

• Novonix Ltd (ASX: NVX) up 9.4%
• Liontown Resources Limited (ASX: LTR) up 7.6%
• Lake Resources N.L. (ASX: LKE) up 7.5%
• Vulcan Energy Resources Ltd (ASX: VUL) up 7.4%

However, as per Musk’s comments, it is the lithium refiners of particular interest. Novonix could be garnering the highest performance as its synthetic anode production might be more accustomed to refining than mining.

Likewise, IGO Ltd (ASX: IGO) is another ASX lithium share that could soon be categorised as a refiner. On 20 May 2022, the mining company announced that its first battery-grade lithium hydroxide had been produced from the Kwinana refinery.

The post ‘You can’t lose’: Which ASX lithium shares operate in Musk’s sweet spot? appeared first on The Motley Fool Australia.

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More reading

• Why is the Novonix share price launching 5% higher today?
• Down 76% this YTD, can the Novonix share price claw back gains?
• IGO share price declines 7% amid commodity fears
• Novonix shares: What does the next year hold in store?
• 3 ASX lithium shares that flew in FY22, and 1 that sank

Motley Fool contributor Mitchell Lawler has positions in Tesla. 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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The Hazer Group Ltd (ASX: HZR) share price is plummeting on news the company’s planned hydrogen and graphite production will likely be delayed.

A part needed to progress work at the company’s Hazer Commercial Demonstration Project has critically failed during fabrication. The plant is expected to be the first fully integrated demonstration of the HAZER Process, developed by the company to convert natural gas into hydrogen and graphite using iron ore as a catalyst.

The failure is expected to delay the company’s targeted production from the end of this year to sometime in 2023.

At the time of writing, the Hazer share price is 70 cents, 16.67% lower than its previous close.

Let’s take a closer look at the news weighing on the technology developer’s stock today.

Hazer share price plunges amid likely production delay

The Hazer share price is tumbling today on news its next step towards production has hit a major roadblock.

A part that was to be installed at the company’s Western Australia-based demonstration plant suffered a critical failure during fabrication.

The part – a high-temperature heat-exchanger – is needed to kick-start the second phase of the plant’s testing program: Hot operating mode.

Hazer CEO Geoff Ward acknowledged the news is “very disappointing” and vowed to investigate the matter thoroughly.   

Hazer is looking for potential remedies hidden among its contract terms and insurances.

In the meantime, it will continue working on the plant’s first phase – cold operations. That will progress over the next three to six months.

There is slither of good news in today’s release from Hazer, however. A hot-wall reactor vessel – also needed to move the plant into hot operations – is nearly completed. The part is expected to arrive in Australia this quarter.

Today’s news sees the Hazer share price handing back some of the gains won on the completion of commissioning at the demonstration plant last month.

The stock has fallen 38% since the start of 2022.

The post Here’s why the Hazer share price just crashed 17% appeared first on The Motley Fool Australia.

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More reading

• ASX hydrogen shares announced some big news last month, so why did so many end June in the red?
• Hazer shares climb 8% amid CEO appointment
• Hazer lifts 11% amid the ASX hydrogen share reaching a construction milestone

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 Newcrest Mining Ltd (ASX: NCM) share price is climbing today after the gold miner released an operational update and an overview of its exploration activities for the June quarter.

At the time of writing, Newcrest shares are up 1.3% today to $2.34 apiece.

Let’s review what the gold share told the ASX today.

Newcrest share price in the green

Newcrest Mining said it achieved its gold production guidance for FY22 at a lower cost than expected.

The company’s copper production was 3% lower than guidance. Its all-in sustaining costs (AISC) were 2% higher.

Here are the highlights from Newcrest’s report:

• FY22 gold production guidance achieved
• June quarter gold production of 637koz2
• June quarter copper production of 39kt
• FY22 gold production of 1,956koz
• FY22 copper production of 121kt
• June quarter AISC of $896/oz2, delivering an AISC margin of $958/oz3
• FY22 AISC of $1,044/oz, delivering an AISC margin of 41% or $732/oz3 for the financial year.

What happened in Q4 FY22 for Newcrest Mining?

Newcrest provided some updates regarding its individual mines:

• Cadia achieved its lowest ever annual AISC of negative $124/oz
• Brucejack transformation program is progressing well, with an uplift road map update expected to be released in August
• Two-stage Cadia Expansion Project and Lihir Front End Recovery Project on track for completion by the end of September
• Cadia PC1-2 feasibility study is expected to be released in the September 2022 quarter
• Red Chris Block Cave and Havieron Stage 1 feasibility studies are on track, with works advancing on both projects
• Strong drilling results at Brucejack, Red Chris, and Havieron, continuing the expansion of the high-grade footprints
• Newcrest Sustainability Fund of A$10 million established to drive social investments in support of the United Nations Sustainable Development Goals.

Newcrest also reviewed its injury rates in the quarter.

The company said: “Injury rates were higher than the prior period at Cadia, Telfer, and Red Chris. The Safe Hands intervention program continues to focus on reducing the risk of hand injuries across Newcrest sites.”

What did management say?

Commenting on the results that seem to have had a positive effect on the Newcrest share price today, managing director and CEO Sandeep Biswas said:

Newcrest delivered a strong fourth quarter to achieve our group gold production for the year. Over the last four quarters we have steadily increased our gold and copper production, driving lower group All-In Sustaining Costs and delivering a record breaking annual cost performance at Cadia.

We were particularly pleased to record a fourth consecutive quarter of lower group costs during this challenging inflationary environment.

Our Respect@Work program continued to progress during the quarter with Newcrest focused on creating a workplace where everyone feels safe, respected and valued.

We also established our Newcrest Sustainability Fund this month, highlighting our commitment to achieving a better and more sustainable future for all our people, and the wider communities in which we operate.

What’s next for Newcrest Mining?

Biswas said the company was advancing multiple organic growth options:

As we move into FY23, we will continue to progress our exciting pipeline of organic growth projects, remaining focused on superior operational performance with an unwavering commitment to the health and safety of our people.

Newcrest Mining will release its guidance for FY23 along with its full-year FY22 results on 19 August during earnings season.

The company said the guidance will “outline Newcrest’s views of the risk of cost inflation on AISC and capital expenditure, and the associated mitigation strategies underway”.

Over the three months to 30 June, the Newcrest share price lost 22%. This compares to a 12% dip for the S&P/ASX 200 Index (ASX: XJO).

The ASX 200 gold share has a market capitalisation of $17 billion.

The post Newcrest share price up on quarterly results and exploration activities report appeared first on The Motley Fool Australia.

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Motley Fool contributor Bronwyn Allen 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 Evolution Mining Ltd (ASX: EVN) share price is tracking higher today amid the release of the company’s quarterly earnings and full-year report.

At the time of writing, the ASX gold share is trading 1.3% in the green at $2.34.

In broad market moves, gold is down again today and is trading at US$1,693 per troy ounce. Meanwhile, the S&P/ASX 200 Resources Index (ASX: XJR) is currently down 1.72%.

Evolution FY22 earnings ‘in-line’ with forecasts

Key takeouts for the FY22 period, including Q4 FY22, include:

• Group gold production increased 16% to 172,722 ounces in the June 2022 quarter, up from 148,787oz in the March quarter
• All-in sustaining cost (AISC) of $1,290 per ounce for the quarter
• FY22 group gold production of 640,275 ounces
• FY22 AISC of $1,259 per ounce places Evolution “as one of the lowest cost global gold producers”
• Ernest Henry asset in Queensland generated more than $435 million of net mine cash flow in FY22
• Group gold production to grow by 25% over the next two years

What else happened this period for Evolution?

In a boost for the Evolution share price, the company generated a mammoth $435 million of net cash flow from its mining operations in FY22. On this result, the AISC was negative $1,680 per ounce.

Moreover, the company’s gold production for the last quarter of 2022 was 16% higher quarter-on-quarter and came in at 172,722 ounces.

Its Mungari operation in Western Australia grew production by 7% to more than 35,000 ounces last quarter, helped by the integration of the Kundana assets, Evolution said.

Finally, it left the period with a cash balance of $572.4 million and net debt of $1.2 billion.

What’s next for Evolution Mining?

The company expects group gold production to grow by 25% over the next two years. It guides a 12% increase in FY23 to around 720,000 ounces.

For FY24, the outlook increases a further 11% to 800,000 ounces, give or take 5%.

On this production, Evolution forecasts AISC for FY23 and FY24 at $1,240 per ounce. It also sustained its capital guidance of $190–$240 per annum over the coming two years.

It has a major capital guidance for FY23 of $530–$600 million, and projects around $330–$380 million in FY24.

Evolution share price snapshot

In the last 12 months, the Evolution share price has fallen more than 42%. It is down by a similar amount this year to date.

In fact, the share is in the red across all major timeframes.

The post Evolution share price lifts as results fall ‘in line’ with forecasts appeared first on The Motley Fool Australia.

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More reading

• 5 things to watch on the ASX 200 on Thursday
• 5 things to watch on the ASX 200 on Wednesday
• 5 things to watch on the ASX 200 on Tuesday
• What’s the outlook for Evolution Mining shares in FY23?
• 2 ASX 200 mining shares performing today amid a volatile gold price

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

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