Tag: Motley Fool

The National Australia Bank Ltd (ASX: NAB) share price has suffered in June. At the time of writing, the big four ASX bank has dropped 11% in the month. But, it has actually risen by more than 6% since 20 June – so does this mean the clouds are lifting?

As one of the biggest banks in Australia – along with Westpac Banking Corp (ASX: WBC), Australia and New Zealand Banking Group Ltd (ASX: ANZ)) and Commonwealth Bank of Australia (ASX: CBA) – changes in interest rates can have a big effect on NAB’s profitability.

The Reserve Bank of Australia (RBA) recently decided to increase the interest rate by 50 basis points, or 0.5%.

With banks passing on the interest rate rises in full, does this mean the NAB share price is more attractive?

Broker views on NAB

The broker Ord Minnett thinks NAB shares are worth buying at the moment, with a price target of $30.50. That’s a potential rise of around 10% on the current price of $27.68. But it would only see the NAB share price return back to where it was in the first week of June.

For Ord Minnett, NAB is the best bank to choose in the sector, partly because it has been achieving the best underlying performance compared to the other big four ASX banks and the broker thinks NAB can keep this up.

Ord Minnett thinks NAB can continue to grow its earnings and dividend. On Ord Minnett’s numbers, the NAB share price is valued at 11x FY23’s estimated earnings. The projected grossed-up dividend yield is 8.5%.

However, other brokers are less optimistic about what’s going to happen next for the NAB share price and the wider banking sector.

For example, Morgan Stanley notes that while higher rates could help the banks’ net interest margin (NIM), it could hurt growth, increase the risk of recession and possibly lead to higher arrears and losses for loans.

But, even the higher interest rates won’t totally add to the NAB margin. Competition continues in the sector, while NAB will have to pay more for its funding for the loans, such as customer deposits with a higher interest rate for the savings accounts.

Morgan Stanley has lower estimates than Ord Minnett for NAB. The broker puts the NAB share price at 12x FY23’s estimated earnings with a projected grossed-up dividend yield of 7.9%.

The market has priced in a high chance that the RBA will increase interest rates by 50 basis points again next week for the July meeting. Investors and borrowers will have to see what NAB does with its loan rates and what this may mean for the NAB NIM.

House prices are falling

According to reporting by The Guardian, the CBA chief economist Gareth Aird believes the RBA will increase the interest rate by 50 basis points.

Aird also expects CoreLogic data (which is released on Friday) will show that “national home prices fell by about 0.9% in June. Sydney, our biggest market, is forecast to be down 1.5% over the month”.

NAB share price snapshot

Since the start of 2022, NAB shares have fallen 6%. However, they are up by more than 5% over the past 12 months.

At the time of writing, the NAB share price is down 1.41% on the day to $27.68.

The post Can investors bank on the NAB share price in July? appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#43B02A”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#43B02A”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Volt gets packing as ASX 200 bank shares prove to be a formidable force
• In the green: Why the NAB share price is rising on Wednesday
• Leading brokers name 3 ASX shares to buy today
• CBA share price leads the big four as banks outperform ASX 200 on Monday
• Broker tips NAB share price to rise 24% from here

Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has 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.

from The Motley Fool Australia https://ift.tt/L62CsIQ

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record another decline. At the time of writing, the benchmark index is down 0.9% to 6,639.3 points.

Four ASX shares that are not letting that hold them back are listed below. Here’s why they are pushing higher:

Argosy Minerals Limited (ASX: AGY)

The Argosy Minerals share price is up almost 7% to 35.2 cents. This morning the lithium developer revealed that the development of its Rincon project in Argentine is both on time and on budget. Argosy expects to be producing the white metal within the next three months.

Cann Group Ltd (ASX: CAN)

The Cann share price is up a massive 26% to 29 cents. Investors have been buying this cannabis company’s shares after it announced the receipt of a GMP licence for its Mildura facility. This allows Cann to produce active pharmaceutical ingredients and hard capsules and conduct GMP-approved activities at its existing chemistry and microbiology laboratories.

OZ Minerals Limited (ASX: OZL)

The OZ Minerals share price is up 1.5% to $18.00. This gain appears to have been driven by a positive broker note out of UBS. Although the broker has downgraded its earnings estimates to reflect OZ Minerals’ recent update, it still sees plenty of value in its shares. As a result, the broker has upgraded the copper producer’s shares to a buy rating with a $23.65 price target.

Pointsbet Holdings Ltd (ASX: PBH)

The PointsBet share price is up 13% to $2.73. This is despite there being no news out of the sports betting company. However, PointsBet shares have been on a bit of a roll recently. This follows news that SIG Sports Investment Corp became its largest shareholder earlier this month via a $94.16 million investment. This has eased concerns that a capital raising will be required in the near future.

The post Why Argosy Minerals, Cann, OZ Minerals, and PointsBet shares are pushing higher appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Why is the PointsBet share price storming 13% higher today?
• Why is the Cann share price smoking out the ASX by 20% today
• ASX 200 midday update: Energy shares drop, PointsBet jumps
• Argosy Minerals share price jumps 10% on lithium update
• What’s behind the weakness in ASX 200 mining shares during June?

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

from The Motley Fool Australia https://ift.tt/kG4s8NJ

Tough retail conditions brought on by sky-high inflation have impacted the Woolworths Group Ltd (ASX: WOW) share price in 2022.

Nonetheless, the conglomerate’s shares are up more than 40% over the last 5 years.

While this is nothing to get overly excited about, it’s the consistent dividends that have supplemented investor income.

At the time of writing, Woolworths shares are trading at $35.80, down 0.78% for the day.

Let’s take a look and see how much Woolworths has paid to shareholders from this time in 2017.

A brief rundown on the Woolworths dividend history

Listed below is a quick look at the dividends distributed from Woolworths over 5 years ago.

• October 2017 – 50 cents (final)

• April 2018 – 43 cents (interim)

• October 2018 – 50 cents (final)

• October 2018 – 10 cents (special dividend)

• April 2019 – 45 cents (interim)

• September 2019 – 57 cents (final)

• April 2020 – 46 cents (interim)

• October 2020 – 48 cents (final)

• April 2021 – 53 cents (interim)

• October 2021 – 55 cents (final)

• April 2022 – 39 cents (interim)

Calculating the above amounts, Woolworths has paid a total of $4.96 in dividends to shareholders since this time in 2017.

Furthermore, the company has a current dividend yield of 2.62%.

So how does this compare with the Wesfarmers dividend?

Woolworths’ main competitor, Wesfarmers Ltd (ASX: WES) has also seen its share price tank in recent times.

However, in similar fashion, the diversified company’s shares are up 48% over the 5-year period.

When looking at the dividend history, Wesfarmers has distributed a total amount of $10.49 to shareholders since 2017.

Keep in mind that Wesfarmers shares are fetching at $42.26, slightly above its peer.

But, when pitting the two blue-chip companies against each other, it’s the Wesfarmers dividend that comes out on top.

To compare the pair, Woolworths’ dividend reflects a payout of around 14% of its current share price.

On the other hand, the Wesfarmers dividend represents roughly 25%.

Wesfarmers has a dividend yield of 4.02%.

Woolworths share price summary

A volatile 2022 has driven the Woolworths share price to register a loss of almost 6% for the period.

Based on valuation grounds, Woolworths presides a market capitalisation of approximately $43.04 billion.

The post How does the Woolworths dividend compare to Wesfarmers over the last 5 years? appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Why I think the current Wesfarmers share price is a steal
• 4 ASX dividend shares to buy that aren’t banks or miners: expert
• ASX 200 retail shares in the doldrums today despite improving sales data
• Are these blue chip ASX 200 shares in the buy zone?
• Why Appen, BWX, Imugene, and Wesfarmers shares are dropping

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

from The Motley Fool Australia https://ift.tt/sNBSXCY

We’re only a few hours away from the ASX closing shop for June 2022. As such, it’s a great time to check out how some of the most popular shares on the ASX have gone over the past month.

So today, let’s check out ASX 200 mining shares.

Mining shares have been the centre of attention for ASX investors all year. Wild share price swings and monster dividends have certainly kept things interesting for investors.

Let’s kick things off with the ASX 200’s largest share (by a mile) – BHP Group Ltd (ASX: BHP).

So, the BHP share price started June off at $44.61. Today, it’s asking $42.09 at the time of writing. That represents a loss of 5.65% over the month (including the nasty 1.6% loss we’ve seen in today’s trading session). So, not a great month for BHP, although it could have been worse.

So, that’s the ‘Big Australian’. But what of its mining peers?

How did the other ASX 200 mining shares fare over June?

Well, let’s check out Rio Tinto Limited (ASX: RIO) next.

Rio shares have also had a rough month. Rio started winter at $114.45 a share. But today, the ASX 200 miner is asking $104.97 a share, down 1.12% so far. So over June, Rio has retreated by roughly 8.3%.

What of Fortescue Metals Group Limited (ASX: FMG) though? Can it break the depressing June rut ASX 200 mining shares seem to find themselves in today?

So, Fortescue began the month at $20.11 a share. It rose all the way up to more than $21.60 a week into June, but it’s unfortunately been downhill from there. Today, Fortescue shares are trading at a flat $18 at the time of writing. So, it’s another ASX 200 mining behemoth down by 10.5% over the month.

Maybe South32 Ltd (ASX: S32) shares can save the day? After all, South32 is the only company we’ve looked at today that doesn’t earn most of its money from iron ore.

South32 shares were going for a flat $5 at the start of this month. Today, the BHP spin-off is asking for a far lower $3.98 a share. That’s a painful loss of 20.4%. So much for saving the day.

So all in all, we can conclude that it was not a great month for ASX 200 mining shares over June (save for the possibility of a miraculous afternoon recovery today).

It’s likely that fears over a global slowdown in economic growth (in the Chinese market in particular) might be to blame for this miserly June performance from ASX 200 mining shares.

No doubt investors will be hoping for a more fruitful July.

The post How have ASX 200 mining shares fared over June? appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• These 3 ASX gold mining shares are digging new 52-week lows today
• Own Rio Tinto shares? Here’s how the company is ‘canning’ carbon emissions
• ASX 200 midday update: Energy shares drop, PointsBet jumps
• Why have ASX lithium shares had such a lousy month in June?
• 5 things to watch on the ASX 200 on Thursday

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.

from The Motley Fool Australia https://ift.tt/6GgAneL

The Adairs Ltd (ASX: ADH) share price has seen a lot of volatility over the past six months. But, with shares going up 12% over the past week, is the outlook looking better for the homewares and furniture business?

Adairs now operates three businesses – Adairs, Mocka and Focus on Furniture. There are question marks about what will happen with the economy considering inflation is elevated and interest rates are rising. How much impact will this have on demand for Adairs? Time will tell.

Let’s look at the latest sales update from the business.

Trading update

The company gave a trading update for the first seven weeks of the second half of FY22. It noted that it had continued to see online growth for both Adairs and Mocka, despite cycling record growth rates in the prior corresponding period. Growth can have an important influence on the Adairs share price.

It noted that store sales softened as customers limited their “discretionary outings” in regards to the COVID-19 variant called Omicron.

Adairs store sales were down 1.8%, while Adairs online sales were up 9.7%. Mocka sales were up 14.8%. While Focus sales were down 7.3% year on year, that comparison was against a period before Adairs’ ownership. Including Focus sales, total group sales were up 33.8%.

In February 2022, which was quite a while ago considering everything that has happened since, Adairs said its businesses have good stock levels and “clear opportunities for growth” in the second half. It also said “the macro-economic environment is supportive with strong employment and emerging wages growth.”

What do brokers think of the Adairs share price?

One of the latest views comes from UBS. It currently has a rating of buy on the business.

UBS has a price target of $3.70 – that’s where the broker believes the Adairs share price could be in 12 months from now. But, remember that UBS (probably) doesn’t have a crystal ball.

If the Adairs share price were to rise to $3.70, that would be a rise of more than 80% over the next year.

UBS is now expecting less revenue from Adairs in the next few financial years as the toughening economic environment is expected to hurt demand. The goal of the Reserve Bank of Australia (RBA) is essentially to reduce demand and bring down inflation by raising interest rates.

However, despite the challenges, UBS thinks that the Adairs share price is good value at the current forward price/earnings ratio.

Using UBS’ estimates, Adairs is valued at 7 times FY23’s estimated earnings.

The post Is the Adairs share price outlook brightening for July? appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Do Adairs shares really boast a 9% dividend yield?
• Why I think these 2 ASX shares are trading at bargain basement prices
• The Adairs share price is down 54% in 2022. What’s happened?
• Why did the Adairs share price surge 5% today?
• Is Adairs really going to pay a dividend yield of 21%?

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 ADAIRS FPO. The Motley Fool Australia has positions in and has recommended ADAIRS FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/dMkWo7Q

The Woodside Energy Group Ltd (ASX: WDS) share price is in the red today.

Woodside shares are currently swapping hands at $31.97 apiece, a 2.59% fall. For perspective, the S&P/ASX 200 Index (ASX: XJO) is down 0.76% today.

So what is going on with this ASX oil and gas share?

Oil prices slide

Woodside shares are down today, but they are not alone among ASX energy shares. The Santos Ltd (ASX: STO) share price is down 0.73%, while the Beach Energy Ltd (ASX: BPT) share price is falling 3.07%. The S&P/ASX 200 Energy Index (ASX: XEJ) is declining 1.77% at the time of writing.

The Woodside share price appears to be falling amid declining oil prices in global markets overnight.

WTI crude oil price dropped 2.1% to US$109.37 a barrel, while Brent crude oil fell 2.4% to US$115.20 a barrel.

The oil price fell amid rising US gasoline and distillate inventories, Reuters reported. The rise in the US dollar also had an impact, according to the news agency. A higher US dollar means oil costs more for those purchasing with alternative currencies.

A report from the Energy Information Administration in the United States put a “damper on the market”, according to Again Capital LLC partner John Kilduff. In quotes cited by Reuters, he said:

The rise in gasoline and distillate inventories eases the pressure a bit and the uptick in US production also factored into the price decline.

Woodside merged with BHP Group Ltd (ASX: BHP)’s oil and gas portfolio at the beginning of June, making it a top-10 global energy company by hydrocarbon production. The company also recently listed on the London and New York stock exchanges under the ticker WDS.

Woodside’s New York listing descended 1.56% overnight, while the London listing fell 1.09%.

Woodside share price snapshot

The Woodside share price has exploded 44% in the past year while it has surged ahead 46% in the year to date.

In contrast, the benchmark S&P/ASX 200 Index (ASX: XJO) has descended 9% over the past year.

Woodside has a market capitalisation of about $60.9 billion based on today’s share price.

The post Why is the Woodside share price sliding today? appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#43B02A”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#43B02A”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• ASX 200 midday update: Energy shares drop, PointsBet jumps
• 5 things to watch on the ASX 200 on Thursday
• Why are ASX 200 energy shares surging today?
• Here are the top 10 ASX shares today
• ASX 200 energy shares are having a ball today, what’s fuelling it?

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.

from The Motley Fool Australia https://ift.tt/zODdcNj

The PointsBet Holdings Ltd (ASX: PBH) share price has been a very strong performer on Thursday.

At the time of writing, the sports betting company’s shares are up 13% to $2.73.

This means the PointsBet share price is now up 35% over the last two weeks.

Why is the PointsBet share price racing higher?

Investors have been bidding the PointsBet share price higher today despite there being no news out of the company.

Though, it is worth remembering that there has been some very promising news out of PointsBet this month, which could be supporting its shares.

That news was SIG Sports Investment Corp (SIG) investing $94.16 million into the company via a placement of shares at a significant premium to the PointsBet share price at the time.

SIG co-founder and managing director Jeff Yass commented: “After several years of thoroughly evaluating the North American sports betting market for the right partner, SIG Sports is pleased to have made what we consider to be a long-term investment in PointsBet.”

This purchase meant SIG became PointsBet’s largest shareholder with a 12.8% stake.

The response

The response to this investment was positive in the broker community.

For example, Goldman Sachs, which has a buy rating and $5.78 price target, said:

We see strategic merit in today’s events for PBH given the addition of a long-term strategic investor (with voluntary lock up period) to its register and the potential operating upside from further widening its margin/tech gap to peers through its partnership with [SIG’s] Nellie Analytics.

Elsewhere, Bell Potter, which has a speculative buy rating and $5.25 price target, highlights the boost this has given to the company’s balance sheet. It said:

The other key change, of course, is the cash which we now forecast to be around $445m and $175m at the end of FY22 and FY23 (both net of around $50m in player cash accounts). This suggests the company has sufficient cash for at least another year and then has the ability to raise funds in FY24 through the deferred bonus equity options if necessary.

The post Why is the PointsBet share price storming 13% higher today? appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#43B02A”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#43B02A”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• ASX 200 midday update: Energy shares drop, PointsBet jumps
• Why is the PointsBet share price sinking on Tuesday?
• ASX 200 midday update: Tech shares tumble, Collins Foods jumps
• These are the 10 most shorted ASX shares
• Own PointsBet shares? Here’s what the SIG investment means for shareholders

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

from The Motley Fool Australia https://ift.tt/seAzcMr

It’s a pretty depressing day and end to the month so far for the S&P/ASX 200 Index (ASX: XJO).

So far this Thursday, the ASX 200 has lost another 0.8% of its value and is now back under 6,650 points.

But it’s an even worse day for a few ASX gold mining shares that have hit new 52-week lows today.

Which ASX gold mining shares are digging new troughs?

The first is Northern Star Resources Ltd (ASX: NST).

Shares in this ASX 200 gold miner have fallen 0.21%, down to $7.02 each at the time of writing.

Earlier in today’s trading session, Northern Star shares went as low as $6.96. That’s the company’s new 52-week low. Northern Star shares haven’t consistently traded below $7 since back in 2018.

Fellow ASX gold miner St Barbara Ltd (ASX: SBM) is currently down by 0.4% at 77 cents a share.

Earlier today, St Barbara shares went as low as 76 cents, which is the company’s new 52-week low.

This is an especially bleak milestone for St Barbara, which hasn’t seen its share price at these kinds of levels since way back in 2015.

Another ASX gold miner to check out is Silver Lake Resources Limited (ASX: SLR).

Despite its name, Silver Lake is a gold producer as well. And just like Northern Star and St Barbara, we’ve seen this company hit a new 52-week low today, too.

Silver Lake shares are sitting at their new 52-week low of $1.22 after losing 0.81% so far today. You have to go back to the worst of the COVID-19 crash of 2020 to find the last time Silver Lake was at these levels.

What’s spooking this ‘safe haven’ sector?

ASX gold shares have been under pressure all week, thanks in most part to the disappointing update given by ASX 200 gold miner Evolution Mining Ltd (ASX: EVN) on Monday.

Evolution flagged falling production and higher costs, which seems to have spooked gold investors in recent days. That’s despite the price of gold itself remaining relatively steady in recent weeks.

The yellow metal is asking US$1,825 an ounce at the time of writing, relatively close to its average price over the past 12 months (although down from the US$2,000-plus levels we saw back in March).

The post These 3 ASX gold mining shares are digging new 52-week lows today appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• ASX 200 midday update: Energy shares drop, PointsBet jumps
• Why have ASX lithium shares had such a lousy month in June?
• 5 things to watch on the ASX 200 on Thursday
• What’s behind the 8% fall in the Silver Lake Resources share price?
• Volt gets packing as ASX 200 bank shares prove to be a formidable force

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.

from The Motley Fool Australia https://ift.tt/sYveulL

The CSL Limited (ASX: CSL) share price was almost flat in June, but could it have better days ahead in July?

CSL shares have gained 0.04% since market close on 31 May and are currently trading at $271.96. For perspective, the  S&P/ASX 200 Index (ASX: XJO) has shed 7% in the same time.

Let’s take a look at the outlook for the CSL share price in the next month.

Could CSL go higher?

CSL is a global biotechnology company specialising in plasma products and flu vaccines.

Several analysts are tipping the company’s share price to go higher. Citi analysts have recently placed a $330 price target on the company’s shares and maintained the buy rating. This is a 21% upside on the current share price.

Analysts at Citi highlighted there is “strong” demand for plasma products, while supply is constrained due to low collection volume. Citi said:

With plasma collections now back to pre-pandemic levels, we expect the market to shift its focus to the strong underlying plasma product demand.

Meanwhile, Ben Clark from TMS Capital recently named CSL as one of a number of “high-quality growth businesses” that could be an opportunity. He said the CSL share price and other quality ASX shares are lower than where they should be and will be “significantly bigger” from this point.

Wilsons analysts have also highlighted CSL as one of three shares the team has added to their “focus list” of desirable ASX shares. The team screened the S&P/ASX 300 Index (ASX: XKO) list for shares that look like “value”, as my Foolish colleague Tony reported.

CSL delivered a net profit after tax (NPAT) of $1.76 billion in the first half of FY22, down 5% on a constant currency basis. The company predicts a total net profit after tax for FY22 of between $2.15 and $2.25 billion.

CSL share price snapshot

The CSL share price has descended nearly 5% in the past 12 months, while it is down almost 7% this year to date.

In comparison, the benchmark ASX 200 has shed close to 9% over the past year.

CSL has a market capitalisation of more than $130 billion based on today’s share price.

The post What’s the outlook for the CSL share price in July? appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Has CSL been growing its dividend?
• ‘Don’t get too bearish’: 3 ASX shares Wilsons just added
• How much have CSL shares paid in dividends over the last 5 years?
• Why this broker is tipping ‘strength in the CSL share price’
• Brokers name 3 ASX shares to buy today

Citigroup is an advertising partner of The Ascent, a Motley Fool company. 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 positions in and has recommended CSL Ltd. 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.

from The Motley Fool Australia https://ift.tt/VWqghsI

Those invested in Rio Tinto Limited (ASX: RIO) shares can celebrate after the company announced its made having a cold one more environmentally friendly.

Beer cans made using aluminium produced by Rio Tinto and leveraging ELYSIS technology have hit shelves in Canada. The cans can boast 30% fewer carbon emissions than those made using traditional manufacturing techniques in North America.

At the time of writing, the Rio Tinto share price is $105.11, 1.05% lower than its previous close.

For context, the broader market is also struggling on Thursday. The S&P/ASX 200 Index (ASX: XJO) is down 0.62% right now while the All Ordinaries Index (ASX: XAO) has slipped 0.62%.

Let’s take a closer look at the latest renewables-related news from the resources giant.

Low emissions aluminium cans hit shelves

Own Rio Tinto shares? The company’s partnership with Corona Canada has borne a pilot low carbon beverage can.

Aluminium made using ELYSIS technology has been shaped into 1.2 million cans and filled with Corona beer.

ELYSIS technology can remove all direct greenhouse gas emissions from the aluminium smelting process, emitting oxygen as a by-product. The tech was produced through a partnership between aluminium giants Rio Tinto and Alcoa.

Rio Tinto notes around 70% of aluminium used to produce cans in North America is already made with recycled aluminium. Pairing such recycled metal with Rio Tinto aluminium – made with renewable hydropower – and metal produced using ELYSIS technology reduces carbon emissions by more than 30%.

The limited release drinks cans can be purchased in Canada. Shoppers can also scan a QR code on the can to trace how the product was made.

Rio Tinto plans to utilise its START initiative to allow customers insight into the mine-to-market creation of more beverage cans in the future.

The successful pilot follows a memorandum of understanding signed between Rio Tinto and Corona Canada’s parent company AB InBev in 2020.

Rio Tinto share price snapshot

Despite today’s dip, the Rio Tinto share price is outperforming the broader market in 2022.

It has gained 5% year to date. Meanwhile, the ASX 200 has slipped 12.5%.

Though, the resource giant’s stock has slumped 17% over the last 12 months. The ASX 200 has only dipped 9% in that time.

The post Own Rio Tinto shares? Here’s how the company is ‘canning’ carbon emissions appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#43B02A”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#43B02A”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• What was the highest Rio Tinto share price ever recorded?
• Which ASX 200 mining share offers the best dividend yield for FY22?
• Here’s the Rio Tinto dividend forecast through to 2024
• Guess which sector is delivering the biggest gain across the ASX 200 today
• Why are ASX 200 mining shares having such a dire week?

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.

from The Motley Fool Australia https://ift.tt/VRD6cie