Tag: Motley Fool

  • Here are the top 10 ASX shares today

    A group of friends party and dance in the desert with colourful confetti all around them.A group of friends party and dance in the desert with colourful confetti all around them.

    The S&P/ASX 200 Index (ASX: XJO) ended the week on a strong note, boosted higher by energy shares. The index was 0.45% higher at 6,678 points when the market closed on Friday.

    The S&P/ASX 200 Energy Index (ASX: XEJ) gained more than 2% today after oil prices rose overnight.

    The price of Brent crude oil lifted 3.9% to US$104.65 a barrel in Thursday’s session overseas. Meanwhile, the US Nymex crude price increased 4.3% to US$102.73 a barrel.

    ASX 200 materials shares also outperformed on Friday, with many lithium shares among the market’s best performers after a rough couple of weeks.

    The S&P/ASX 200 Materials Index (ASX: XMJ) ended the day more than 1% higher amid reports by Bloomberg claiming China’s government is considering a US$220 billion infrastructure stimulus program.

    At the end of Friday’s trade, eight of the ASX 200’s 11 sectors were in the green. But which ASX shares outperformed all others? Keep reading to find out.

    Top 10 ASX shares countdown

    And the best performer among the ASX’s biggest shares by market capitalisation is… Latitude Group Holdings Ltd (ASX: LFS).

    The payment provider’s shares topped the lot, gaining almost 13% after a late spike. Find out more about Latitude Group here.

    ASX 200 lithium explorer and developer Liontown Resources Limited (ASX: LTR) came in second best, gaining 7.11%. Read up on what Liontown’s been up to here.

    Today’s top 10 biggest gains were made by these ASX shares:

    ASX-listed company Share price Price change
    Latitude Group Holdings Ltd (ASX: LFS) $1.50 12.78%
    Liontown Resources Limited (ASX: LTR) $1.02 7.37%
    Pilbara Minerals Ltd (ASX: PLS) $2.35 6.82%
    Whitehaven Coal Ltd (ASX: WHC) $5.03 6.34%
    Allkem Ltd (ASX: AKE) $10.46 5.23%
    Alumina Limited (ASX: AWC) $1.525 5.17%
    Pro Medicus Limited (ASX: PME) $47.52 5.16%
    Paladin Energy Ltd (ASX: PDN) $0.62 5.08%
    Champion Iron Ltd (ASX: CIA) $5.04 4.78%
    New Hope Corporation Limited (ASX: NHC) $3.60 4.65%

    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.

    Wondering where you should invest $1,000 right now?

    When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.* Scott just revealed what he believes could be the “five best ASX stocks” for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now

    See The 5 Stocks
    *Returns as of July 7 2022

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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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  • Experts name 2 ASX dividend shares to buy with big yields

    A mature aged man with grey hair and glasses holds a fan of Australian hundred dollar bills up against his mouth and looks skywards with his eyes as though he is thinking what he might do with the cash.

    A mature aged man with grey hair and glasses holds a fan of Australian hundred dollar bills up against his mouth and looks skywards with his eyes as though he is thinking what he might do with the cash.

    If you’re looking for dividend shares with big yields, then you may want to look at the two listed below.

    Here’s why analysts rate these ASX dividend shares as buys:

    Dexus Industria REIT (ASX: DXI)

    The first ASX dividend share that has been rated as a buy is Dexus Industria.

    It is an industrial and office focused property company, formerly known as APN Industria, that owns interests in office and industrial properties.

    Morgans is bullish on Dexus Industria and has an add rating with a $3.65 price target on its shares. Its analysts like company due to its solid underlying portfolio metrics and positive medium term growth outlook thanks to its development pipeline.

    As for dividends, Morgans is forecasting dividends per share of 17.3 cents in FY 2022 and 17.6 cents in FY 2023. Based on the latest Dexus Industria share price of $2.74, this will mean yields of 6.3% and 6.4%, respectively.

    Super Retail Group Ltd (ASX: SUL)

    Another ASX dividend share that has been tipped to provide investors with a big dividend yield is Super Retail. It is the retail conglomerate behind the BCF, Macpac, Rebel, and Supercheap Auto businesses.

    The team at Citi remain positive on Super Retail and believe concerns over its inventory position have been “significantly overplayed.” In light of this, the broker continues to “view Super Retail as oversold” and has retained its buy rating.

    In respect to dividends, Citi is expecting fully franked dividends of 66 cents per share in FY 2022 and 64 cents per share in FY 2023. Based on the current Super Retail share price of $9.28, this will mean yields of 7.1% and 6.9%, respectively.

    Citi has a buy rating and $14.00 price target on its shares.

    The post Experts name 2 ASX dividend shares to buy with big yields appeared first on The Motley Fool Australia.

    Wondering where you should invest $1,000 right now?

    When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.* Scott just revealed what he believes could be the “five best ASX stocks” for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now

    See The 5 Stocks
    *Returns as of July 7 2022

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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 positions in and has recommended Super Retail Group Limited. The Motley Fool Australia has positions in and has recommended Super Retail 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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  • Here are 3 fantastic ETFs for ASX investors to buy now

    ETF written in white with a blackish background.

    ETF written in white with a blackish background.

    If you’d like to make some investments but aren’t sure which shares to buy, you could look at exchange traded funds (ETFs) instead.

    But which ETFs could be buys? Three that are very popular are listed below. Here’s what you need to know about them:

    BetaShares Global Energy Companies ETF (ASX: FUEL)

    The first ETF to look at is the BetaShares Global Energy Companies ETF. This ETF allows investors to gain exposure to the global energy market at a time when oil prices are at high levels due to supply constraints.

    BetaShares notes that the ETF includes energy producers that are larger, more geographically diversified, and more vertically integrated than Australian-listed energy companies.

    Among its holdings are well-known energy giants including BP, Chevron, ExxonMobil, and Royal Dutch Shell.

    BetaShares NASDAQ 100 ETF (ASX: NDQ)

    Another ETF to look at is the BetaShares NASDAQ 100 ETF. This ETF provides investors with access to 100 of the largest non-financial companies listed on the famous exchange.

    BetaShares thinks this ETF is a good option for Australian investors. It notes that the ETF’s strong focus on technology provides investors with diversified exposure to a high-growth potential sector that is under-represented in the Australian sharemarket.

    Among the 100 shares included in the ETF are giants such as Amazon, Apple, Meta (Facebook), Microsoft, Netflix, Nvidia, Tesla, and Google parent, Alphabet.

    VanEck Vectors Morningstar Wide Moat ETF (ASX: MOAT)

    A final ETF for investors to look at is the VanEck Vectors Morningstar Wide Moat ETF. It could be a good option for investors that want to replicate Warren Buffett’s investment style.

    That’s because this ETF aims to invest in a group of fairly valued companies that have sustainable competitive advantages. The latter is something that Mr Buffett calls moats.

    At present there are in the region of ~50 shares included in the ETF. This includes companies from a range of sectors such as Adobe, Alphabet, Amazon, Boeing, Campbell Soup, Constellation Brands, Microsoft, and Walt Disney.

    The post Here are 3 fantastic ETFs for ASX investors to buy now appeared first on The Motley Fool Australia.

    Wondering where you should invest $1,000 right now?

    When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.* Scott just revealed what he believes could be the “five best ASX stocks” for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now

    See The 5 Stocks
    *Returns as of July 7 2022

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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 positions in and has recommended BETANASDAQ ETF UNITS and BetaShares Global Energy Companies ETF – Currency Hedged. The Motley Fool Australia has positions in and has recommended BETANASDAQ ETF UNITS. The Motley Fool Australia has recommended VanEck Vectors Morningstar Wide Moat ETF. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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  • Own CBA shares? Here’s why this analyst doesn’t foresee further buybacks

    A woman crosses her hands in front of her body in a defensive stance indicating a trading halt

    A woman crosses her hands in front of her body in a defensive stance indicating a trading halt

    Commonwealth Bank of Australia (ASX: CBA) shares have just ended the week in the red.

    The banking giant’s shares dropped 0.5% to $92.59 on Friday.

    Why did CBA shares have a subdued day?

    Today’s subdued showing by the CBA share price could have been driven by a broker note out of Morgan Stanley yesterday.

    That note reveals that the broker believes investors shouldn’t be getting their hopes up for another share buyback anytime soon.

    According to the note, the broker believes that CBA and the rest of the big four banks have fewer capital management options than they did a year ago now that average capital ratios are only a touch above pre-pandemic levels.

    Furthermore, with rates rising fast to combat inflation and potentially causing a recession, its analysts feel the current environment may be too uncertain to risk further buybacks.

    The broker commented:

    The major banks have announced $18 billion of buybacks since the middle of last year. However, given a more uncertain operating outlook, we don’t expect any further buybacks to be announced this year.

    Shares remain a sell

    It is partly for this reason that the broker doesn’t see value in CBA shares at the current level. The note reveals that its analysts have an underweight rating and $79.00 price target on its shares.

    Based on the current CBA share price, this implies potential downside of 14.7% for investors over the next 12 months.

    The only big four bank the broker is recommending as a buy is Westpac Banking Corp (ASX: WBC).

    Its analysts currently have an overweight rating and $22.30 price target on its shares. This suggests potential upside of 12% for investors from current levels.

    The post Own CBA shares? Here’s why this analyst doesn’t foresee further buybacks appeared first on The Motley Fool Australia.

    Wondering where you should invest $1,000 right now?

    When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.* Scott just revealed what he believes could be the “five best ASX stocks” for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now

    See The 5 Stocks
    *Returns as of July 7 2022

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    Motley Fool contributor James Mickleboro has positions in Westpac Banking Corporation. 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 Westpac Banking Corporation. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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  • Brokers name 3 ASX shares to buy today

    A white and black clock with the words Time to Buy in blue lettering representing the views of two experts who say it's time to buy these ASX shares

    A white and black clock with the words Time to Buy in blue lettering representing the views of two experts who say it's time to buy these ASX shares

    It has been another busy week for Australia’s top brokers. This has led to the release of a large number of broker notes.

    Three broker buy ratings that you might want to know more about are summarised below. Here’s why brokers think these ASX shares are in the buy zone:

    Allkem Ltd (ASX: AKE)

    According to a note out of UBS, its analysts have retained their buy rating and lifted their price target on this lithium miner’s shares to $15.55. UBS has become less positive on base metals and more positive on lithium. The broker expects lithium prices to remain strong and underpin strong free cashflow for Allkem. The Allkem share price is trading at $10.55 on Friday afternoon.

    Baby Bunting Group Ltd (ASX: BBN)

    A note out of Citi reveals that its analysts have retained their buy rating and $6.22 price target on this baby products retailer’s shares. Baby Bunting remains Citi’s top pick in the small cap retail space. Particularly given how the company is making early progress with its expansion into less penetrated categories such as toys and babywear. Combined with its store rollout, supply chain initiatives, and its private label offering, Citi believes Baby Bunting is well-placed for growth. The Baby Bunting share price is fetching $4.40 today.

    Corporate Travel Management Ltd (ASX: CTD)

    Analysts at Morgans have retained their add rating but cut their price target on this corporate travel specialist’s shares to $25.85. Although the broker acknowledges that the travel sector recovery may take longer than first expected, it sees recent weakness as a buying opportunity. But you may have to act fast. Morgans suspects that reporting season in August could be a catalyst for a rerating. The Corporate Travel Management share price is trading at $19.54 this afternoon.

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

    Wondering where you should invest $1,000 right now?

    When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.* Scott just revealed what he believes could be the “five best ASX stocks” for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now

    See The 5 Stocks
    *Returns as of July 7 2022

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    Motley Fool contributor James Mickleboro has positions in Allkem 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 recommended Baby Bunting and Corporate Travel Management 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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  • Here are the 3 most heavily traded ASX 200 shares on Friday

    a group of three people carry a large block to line it up in ascending order with two other blocks nearby.

    a group of three people carry a large block to line it up in ascending order with two other blocks nearby.

    The S&P/ASX 200 Index (ASX: XJO) is enjoying a robust end to the trading week so far this Friday. At the time of writing, the ASX 200 is up by a decent 0.58% at just over 6,680 points.

    So let’s delve deeper into these gains today, and check out the ASX 200 shares that are currently topping the market’s share trading volume charts today, according to investing.com. See if you can spot a theme today.

    The 3 most traded ASX 200 shares by volume this Friday

    Core Lithium Ltd (ASX: CXO)

    First up today is Core Lithium. This ASX 200 lithium stock has had a hefty 14.67 million of its shares bounce around the share market so far this Friday. There have been no developments out of Core Lithium itself today, however, the company’s shares have had a very bumpy trading session.

    Core Lithium initially opened up more than 4% this morning. But investors seem to have gotten cold feet and have sent the shares lower over today’s session. At present, Core Lithium has now seen its lead whittled back to a 0.53% gain. It’s probably these big moves that have elicited the high trading volumes we see.

    Pilbara Minerals Ltd (ASX: PLS)

    Our next ASX 200 share is a fellow lithium producer in PIlbara Minerals. In Pilbara’s case, we’ve seen a notable 18.21 million shares bought and sold at the present time.

    There’s no news to speak of out of Pilbara either. So this volume can probably be explained by the monster 7.5% this company has gained over today so far. Yes, Pilbara shares are now trading at $2.36 after closing at $2.20 yesterday.

    Lake Resources N.L. (ASX: LKE)

    Our third and final ASX 200 share for today is yet another ASX lithium stock. Lake Resources has had a whopping 20.1 million shares change hands as it currently stands. Like Core Lithium, Lake Resources shares initially lit up this morning and rose by 8.21% at one point.

    But sentiment has also cooled slightly, and the company is now up by 4.57% at 73 cents a share. Again, it is probably these gyrations that have elicited such a huge trading volume metric this Friday.

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

    Wondering where you should invest $1,000 right now?

    When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.* Scott just revealed what he believes could be the “five best ASX stocks” for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now

    See The 5 Stocks
    *Returns as of July 7 2022

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    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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  • Why Pro Medicus, St Barbara, Vulcan, and Whitehaven Coal are pushing higher

    The S&P/ASX 200 Index (ASX: XJO) is on form again and poised to record another solid gain. In afternoon trade, the benchmark index is up 0.55% to 6,685 points.

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

    Pro Medicus Limited (ASX: PME)

    The Pro Medicus share price is up 5% to $47.45. This morning the team at Goldman Sachs upgraded this health imaging technology company’s shares to a neutral rating from sell. And while the broker’s price target of $42.60 is lower than where its shares trade today, Goldman spoke very positively about the company’s future.

    St Barbara Ltd (ASX: SBM)

    The St Barbara share price is up 7.5% to 89.2 cents. Investors have been buying this gold miner’s shares after its strong fourth quarter performance allowed it to achieve its revised guidance for FY 2022. Total gold production came in at 86.4k ounces during the quarter, up 40% from the previous quarter. This took its full year production to 281k ounces.

    Vulcan Energy Resources Ltd (ASX: VUL)

    The Vulcan share price is up 6% to $5.78. As well as getting a boost from a rebound in the lithium industry, a positive announcement has given Vulcan’s shares a lift. Vulcan revealed that it has signed an agreement with Italian renewable energy giant Enel Green Power to explore the development of a geothermal well housing lithium in Italy.

    Whitehaven Coal Ltd (ASX: WHC)

    The Whitehaven Coal share price is up 7% to $5.07. Whitehaven Coal and the rest of the resources sector have been performing strongly today amid news that China is planning a huge infrastructure-focused stimulus program to boost its economy. The S&P/ASX 200 Resources index is up 1.8% this afternoon.

    The post Why Pro Medicus, St Barbara, Vulcan, and Whitehaven Coal are pushing higher appeared first on The Motley Fool Australia.

    Wondering where you should invest $1,000 right now?

    When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.* Scott just revealed what he believes could be the “five best ASX stocks” for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now

    See The 5 Stocks
    *Returns as of July 7 2022

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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 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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  • Rio Tinto shares avoid a rocky Friday amid US$220 billion commodity stimulus rumours

    2 people at mining site, bhp share price, mining shares2 people at mining site, bhp share price, mining shares

    The Rio Tinto Limited (ASX: RIO) share price is up 1.44% in late afternoon trading to $98.56.

    Fellow ASX mining shares BHP Group Ltd (ASX: BHP) and Fortescue Metals Group Limited (ASX: FMG) are similarly up by 1.82% and 1.34% respectively.

    The big miners might be doing well today because of reports that China is considering a massive new stimulus program to boost its economy following disruptive recent COVID-19 lockdowns.

    Let’s look at the detail.

    Rumours of China stimulus boost Rio Tinto share price

    According to a Bloomberg report, the Chinese Ministry of Finance is considering a US$220 billion stimulus program.

    The program would be funded through special bonds issued by local governments. The bonds would be taken from their FY23 quotas to ramp up infrastructure investment.

    The Chinese budget year begins in January. This would be the first time the central government has allowed bonds to be issued ahead of time. Therefore, the plan would require a State Council review and possibly approval by the National People’s Congress.

    The US$2.2 billion would be on top of US$164 billion in infrastructure spending already announced in recent weeks.

    Bloomberg quoted Wei Yao, Societe Generale’s chief economist and head of research for Asia/Pacific: “It has been clear for sometime that local governments need more money. The central government is still unwilling to expand its own balance sheet.”

    The article said it is instead letting local governments borrow more. Yao says that means “a fiscal cliff next year”.

    What this means for ASX mining shares

    More infrastructure spending in China means more demand for our commodities, particularly iron ore which is used to make steel.

    Commodity prices have increased on the news.

    According to Trading Economics, Zinc rose by 3.55%, iron ore (62% fe) is up 2.46%, and aluminium is up 1.37%.

    Rio Tinto share price outlook

    The Rio Tinto share price is down 1.18% in the year to date. This is largely due to the falling iron ore price.

    While the price is still elevated, it has fallen in 2022 due to fears of a global recession caused by rising inflation and interest rates.

    As my Fool friend Tristan reports today, top broker UBS has downgraded its 12-month price target for Rio Tinto to $98. Credit Suisse is more bullish with a price target of $118 on Rio Tinto shares.

    In addition, Credit Suisse thinks Rio will pay a grossed-up dividend yield of 20% in FY22 and 18% in FY23.

    The post Rio Tinto shares avoid a rocky Friday amid US$220 billion commodity stimulus rumours appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Rio Tinto Limited right now?

    Before you consider Rio Tinto Limited, you’ll want to hear this.

    Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Rio Tinto Limited wasn’t one of them.

    The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

    See The 5 Stocks
    *Returns as of July 7 2022

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    Motley Fool contributor Bronwyn Allen has positions in BHP Billiton Limited and Fortescue Metals Group 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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  • Why Collins Foods, GQG, Magellan, and SkyCity shares are dropping

    A couple sits on a sofa, each clutching their heads in horror and disbelief, while looking at a laptop screen.

    A couple sits on a sofa, each clutching their heads in horror and disbelief, while looking at a laptop screen.In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to finish the week on a positive note. At the time of writing, the benchmark index is up 0.6% to 6,687.5 points.

    Four ASX shares that have failed to follow the market higher today are listed below. Here’s why they are dropping:

    Collins Foods Ltd (ASX: CKF)

    The Collins Foods share price is down 3.5% to $10.17. The catalyst for this was the quick service restaurant operator’s shares trading ex-dividend this morning for its final dividend of FY 2022. Eligible shareholders can look forward to receiving this 15 cents per share dividend at the start of next month on 1 August.

    GQG Partners Inc (ASX: GQG)

    The GQG share price is down 2% to $1.31. This morning this fund manager released its latest funds under management (FUM) update. GQG’s update revealed that its FUM fell 8.35% in June. This was driven partly by International Equity FUM dropping 8% and Global Equity FUM sinking 11.1% during the month.

    Magellan Financial Group Ltd (ASX: MFG)

    The Magellan share price is down almost 3% to $11.93. Investors have been selling this struggling fund manager’s shares following the release of its monthly FUM update. That update revealed that Magellan’s FUM continues to dwindle. Magellan’s FUM stood at $61.3 billion at the end of June. This is down 5.7% from $65 billion at the end of May.

    SkyCity Entertainment Group Limited (ASX: SKC)

    The SkyCity share price is down 7.5% to $2.29. This casino and resorts operator’s shares have come under pressure this month after it revealed that the South Australian gaming regulator is undertaking an independent review of SkyCity Adelaide. The SkyCity share price has now fallen 13.5% since announcing the review.

    The post Why Collins Foods, GQG, Magellan, and SkyCity shares are dropping appeared first on The Motley Fool Australia.

    Wondering where you should invest $1,000 right now?

    When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.* Scott just revealed what he believes could be the “five best ASX stocks” for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now

    See The 5 Stocks
    *Returns as of July 7 2022

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    Motley Fool contributor James Mickleboro has positions in Collins Foods Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Collins Foods Limited. The Motley Fool Australia has recommended Collins Foods 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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  • What’s behind the frozen Galileo Mining share price today?

    Man in business suit crouched and freezing in a block of ice.Man in business suit crouched and freezing in a block of ice.

    The Galileo Mining Ltd (ASX: GAL) share price isn’t going anywhere on Friday.

    This comes after the company requested that its shares be placed in a trading halt before market open today.

    At the time of writing, shares in the cobalt and nickel explorer remain frozen at $1.275 apiece.

    Why is the Galileo Mining share price halted?

    In a statement to the ASX, Galileo Mining advised it is preparing to make an important announcement to investors.

    This is in relation to material drill assay results from the company’s flagship Callisto discovery.

    Galileo Mining requested the trading halt remain in place until Tuesday 12 July or when the announcement is made, whichever comes first.

    A brief rundown on Galileo Mining

    Based in Western Australia, Galileo Mining is focused on exploring its Norseman and Fraser Range projects for base metals.

    The company wholly owns the Norseman Project and has joint ventures with the Creasy Group in the Fraser Range.

    The Callisto palladium-nickel discovery is located within the Norseman project, near the town of Kalgoorlie in Western Australia.

    Earlier this week, the company received firm commitments for a $20.4 million placement to expand its drilling program at Callisto.

    Galileo Mining managing director Brad Underwood commented:

    The placement will increase our total cash to approximately $26.5 million and allow us to aggressively explore this significant new palladium province within our Norseman Project area.

    Galileo Mining share price snapshot

    Since this time last year, Galileo Mining shares have registered an incredible gain of more than 360%.

    However, in 2022, the company’s shares have zipped further with a 460% gain on the back of positive investor sentiment.

    Based on valuation grounds, Galileo Mining presides a market capitalisation of roughly $227.98 million.

    The post What’s behind the frozen Galileo Mining share price today? appeared first on The Motley Fool Australia.

    Wondering where you should invest $1,000 right now?

    When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.* Scott just revealed what he believes could be the “five best ASX stocks” for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now

    See The 5 Stocks
    *Returns as of July 7 2022

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

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