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The BetMakers Technology Group Ltd (ASX: BET) share price is rising on Thursday morning.

At the time of writing, the betting technology company’s shares are up 7% to 37 cents.

Why is the Betmakers share price rising?

The catalyst for the rise in the BetMakers share price is the release of a promising announcement.

According to the release, the company has been awarded the rights to offer Penn National Gaming’s racing content for fixed odds, booked bets, and exchange wagering outside of the US and Canadian markets.

These rights include over 946 race meetings a year for distribution from 1 July 2022 to globally licensed wagering operators.

BetMakers’s Global Racing Network currently delivers international racing content from more than 30 countries and offers rights holders new markets in which to monetise their racing. It receives a fee based on a percentage of turnover generated by wagering operators betting on the products in these new markets, while delivering rights holders new revenue.

Under the new agreement, BetMakers and Penn have agreed to a revenue share arrangement, with Penn to be paid a minimum guarantee amount annually. The term of agreement commenced on signing and will continue until 31 December 2025.

Management commentary

Partnerships Manager of BetMakers’ Global Racing Network, Kerry Gatten, was very pleased with the agreement. Gatten stated:

We are delighted to offer Penn’s first-rate content to a global audience and increase the awareness of the valuable content US racetracks have to offer.

It is exciting that we get to deliver Penn’s extensive racing content into our network of operators globally.

Despite this and a couple of recent positive developments, the BetMakers share price is still down a disappointing 55% since the start of the year.

The post Why is the BetMakers share price charging 7% higher today? appeared first on The Motley Fool Australia.

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More reading

• These are the 10 most shorted ASX shares
• 3 ASX All Ordinaries shares going gangbusters on Friday
• Why Betmakers, Block, Lake Resources, and Vulcan shares are racing higher
• Here’s why the Betmakers share price is rocketing 22% on Friday
• 3 ASX All Ordinaries shares having a cracking Monday

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

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The Argosy Minerals Limited (ASX: AGY) share price is on the move on Thursday morning.

At the time of writing, the lithium developer’s shares are up 10% to 36.5 cents.

This means the Argosy share price is now up over 25% since this time last week.

Why is the Argosy share price rising?

Investors have been bidding the Argosy share price higher today following the release of an update on the company’s Rincon Lithium Project in Argentina.

According to the release, approximately 90% of the total works have now been completed for the development of the 2,000tpa lithium carbonate production operation.

Positively, the company remains both on budget and schedule. It expects to achieve first battery quality lithium carbonate production during the upcoming third quarter of calendar year 2022.

The main work that remains relates to plant commissioning. Design phase work is complete, construction work is 94% complete, and plant commissioning work is 42% complete.

Management commentary

Argosy’s Managing Director, Jerko Zuvela, was pleased with the progress. Particularly given that the company will be entering the market at a time when lithium prices are at record levels.

Mr Zuvela commented:

The Company’s Puna operations team are getting closer to completing construction works and progressing with plant commissioning works, and then commencing lithium carbonate production operations.

The lithium market remains very positive and lithium carbonate prices are forecast to continue around record highs during 2022 and 2023, resulting in very robust upcoming product sales revenues.

The Company is very excited with our progress to become the next commercial scale lithium carbonate production operation, transforming into a cashflow generator, and progressing toward the next stage 12,000tpa scale operations.

The post Argosy Minerals share price jumps 10% on lithium update appeared first on The Motley Fool Australia.

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More reading

• Is this why ASX lithium shares are being crushed today?
• Which ASX lithium shares are producing and which are not?
• Why Argosy, Arafura, Beach, and De Grey Mining shares are rising

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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If you’re looking for exposure to the resources sector, then Iluka Resources Limited (ASX: ILU) shares could be worth considering.

That’s the view of analysts at Goldman Sachs, who believe the mineral sands and rare earths producer could be one of the best ASX 200 resources shares to buy right now.

What did the broker say?

According to a note out of the investment bank this morning, the broker has reiterated its conviction buy rating and $13.80 price target on the company’s shares.

Based on the current Iluka share price, this implies potential upside of 40% for investors over the next 12 months.

Why is Goldman bullish on Iluka’s shares?

Goldman has named three key reasons for its bullish view on Iluka shares. These include its valuation, its mineral sands and rare earths production growth, and the state of zircon and TiO2 feedstock markets.

In respect to its valuation, it commented:

Trading at 0.65x NAV (A$14.6/sh). We think the market is ascribing only some value to ILU’s Wimmera and Eneabba RE projects and the high grade zircon Balranald development project. We think ILU is undervalued (on c.4.5x EBITDA NTM) vs. key rare earth (c.13x) and mineral sands/pigment (c.5x) industry peers.

As for its mineral sands and rare earths production growth, the broker highlights the company’s strong production growth outlook. Goldman expects this to be a big boost to earnings in the coming years. It said:

We are positive on ILU’s project pipeline and forecast >40% production growth in mineral sands volumes, c.18ktpa of Rare Earths (~3.5-4ktpa of high value NdPr), and a >60% increase in EBITDA over the next ~5 yrs to 2027.

Finally, Goldman Sachs notes that the Zircon and TiO2 feedstock markets entered a supply side driven deficit in 2021. And with the markets remaining tight, its analysts see ongoing upside risk to prices in the second half of 2022.

The c.1.1Mt global zircon market entered a deficit in 2021 on our estimates, driven by a >10% fall in global supply on mine depletion and production cuts, and a strong rebound in global demand for ceramics. The Top 3 global zircon producers control 65%-70% of supply. We expect ILU to announce a further US$125/t zircon price increase from 1 July 2022, which should increase ILU’s realised price to around US$1,870/t.

We also believe the 7Mtpa TiO2 feedstock market has entered a deficit on stronger global pigment demand and expect at least a further US$180/t (+15%) increase in both rutile and synthetic rutile prices for 2022.

The post Goldman Sachs says Iluka shares are a strong buy with 40% upside appeared first on The Motley Fool Australia.

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More reading

• 5 things to watch on the ASX 200 on Thursday
• Mineral Monday: What you need to know about rare earths and which ASX shares are cashing in on them
• Here’s why analysts rate these ASX 200 mining shares as buys
• Iluka share price lifts off on rare earths refinery progress

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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This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

What happened

Are we witnessing the start of a tech stock rally? It’s too soon to tell, but numerous big names in the industry rose from the ground on Wednesday.

One of them was Amazon (NASDAQ: AMZN), which closed the day 1.4% higher against an essentially flat S&P 500 index. In addition to being the target of tech stock bargain hunters, the powerhouse online retailer also benefited from a high-profile bank picking it as a top buy in that beaten-down sector.

So what

The analysis in question came from JPMorgan Chase‘s near-namesake JPMorgan unit. Prognosticator Doug Anmuth updated his coverage of internet stocks, with notably muted enthusiasm.

“The Internet sector continues to have secular growth, but it is far more mature than in 2008-2009, and the ability to offset broader, macro trends is more limited,” he wrote in a new research note. “As a result, all of our companies are at risk in a slowing environment.”

Anmuth reduced estimates for a clutch of these stocks, especially those most heavily associated with online advertising and e-commerce.

Now what

That was the bad news in the JPMorgan analyst’s new take. The good news is that, according to Anmuth, several of the sector’s big titles already have such negative factors priced into their shares. He tapped three of these as his “Best Ideas,” one of them being Amazon (the other two were online travel agency incumbent Booking Holdings and rideshare king Uber).

In spite of that, Anmuth did give his price target on Amazon a haircut, to $175 per share from the previous $200. 

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

The post Why Amazon stock rose while the market slept on Wednesday appeared first on The Motley Fool Australia.

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More reading

• Why are ASX tech shares struggling today?
• 2 monster Warren Buffett stock-split stocks to buy right now
• Is Amazon a buy after the stock split?
• Amazon stock post-split: Bear vs. bull
• Nasdaq bear market: Where to invest $1,000 right now

Eric Volkman has no position in any of the stocks mentioned. John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. JPMorgan Chase is an advertising partner of The Ascent, a Motley Fool company. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Amazon and Booking Holdings. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Uber Technologies. The Motley Fool Australia has recommended Amazon and Booking Holdings. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

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Are you looking for dividend shares to add to your income portfolio? If you are, then the two listed below could be worth considering.

These dividend shares have been rated as buys by brokers and tipped to provide income investors with attractive yields. Here’s what you need to know about them:

Baby Bunting Group Ltd (ASX: BBN)

The first ASX dividend share to consider is leading baby products retailer, Baby Bunting.

While the retail sector is a tough place to be right now due to supply chain issues and cost of living pressures, Baby Bunting should be less impacted than most. This is due to its leadership position in a less discretionary category which benefits from ~300,000 births a year.

Citi is particularly bullish on Baby Bunting and currently has a buy rating and $6.22 price target on its shares. The broker commented: “[W]e forecast a FY21 to FY24 EPS CAGR of 17%, and see growth being driven by i) rollout, ii) ramp up of new stores, iii) margin expansion and iv) penetrating existing categories with low presence. Further, the stocks growth prospects are in some respects less risky than other high multiple retailers who are relying more on new markets and acquisitions.”

Citi also expects some attractive dividends in the near term. The broker has pencilled in fully franked dividends per share of 16 cents in FY 2022 and 19 cents in FY 2023. Based on the current Baby Bunting share price of $3.97, this will mean yields of 4% and 4.8%, respectively.

Dexus Industria REIT (ASX: DXI)

Another ASX dividend share that could be in the buy zone is Dexus Industria.

It is an industrials-focused real estate investment trust (REIT) with a portfolio currently valued at ~$1.8 billion. Management notes that this portfolio has been constructed to provide investors sustainable income and capital growth prospects for security holders over the long term.

Morgans appears confident the company will deliver on this. As a result, it has an add rating and $3.65 price target on its shares.

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

The post Brokers rate these ASX dividend shares as buys appeared first on The Motley Fool Australia.

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More reading

• 2 excellent ASX dividend shares rated as buys by brokers
• 2 quality ASX dividend shares with 6%+ yields experts rate as buys
• Why I think these 2 ASX shares are ideal for growth investors
• 2 ASX dividend shares that brokers are tipping as buys right now
• 2 high yield ASX dividend shares to buy according to analysts

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 recommended Baby Bunting. 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 Bitcoin (CRYPTO: BTC) price kicked off June trading for US$31,705, give or take a few hundred dollars depending on your time zone. That was also close to the monthly high.

Over the past month the world’s top crypto by market cap traded as high as US$32,249 and as low as US$17,709, according to data from CoinMarketCap.

Valued at US$20,280 last night, the Bitcoin price has lost some 16% over the month.

With the calendar pages ready to be turned on June, what can crypto investors expect in July?

What’s ahead for the Bitcoin price in July?

Aside from stablecoins (and ignoring the recent Terra USD stablecoin meltdown), most every top-100 crypto has come under pressure in recent months.

And so long as the forces behind those pressures remain, any meteoric rise in the Bitcoin price looks dim.

According to eToro’s market analyst and crypto expert Simon Peters:

Crypto markets are very sensitive to US markets, in particular to monetary policy decisions from the Fed to combat rising inflation. The raising of interest rates and rising bond yields have affected US equity valuations and, by extension, crypto markets in recent months.

Potentially aggressive tightening by the US Federal Reserve, which hiked rates by 0.75% earlier in June, has seen the tech-heavy Nasdaq fall 29% this calendar year. If we see another outsized rate hike from the Fed in July, it could put further pressure on the Bitcoin price and risk assets more broadly.

Atop rate concerns, Peters added, “Increasing recession risks, poor earnings and forward guidance from companies could further affect stock market prices. Given the recent correlations, crypto prices could also be affected.”

An eye on the long-term

While crypto investors who bought at higher prices will be feeling some pain, Peters pointed out that the pullback in the Bitcoin price remains well within historic ranges. “Bitcoin saw a pull back of around 84% from its highs in December 2017 to the low in December 2018.”

Bitcoin is currently down just over 70% from its 10 November all-time highs.

For long-term crypto investors, Peters added, “What is critical here is that any long-term investment case made for the crypto asset should remain when the underlying ideas are considered and historic price trends are factored in.”

The post Here’s what will impact the Bitcoin price in July appeared first on The Motley Fool Australia.

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More reading

• What did the SEC just say about Bitcoin?
• How crypto miners are squeezing the Bitcoin price
• The Bitcoin price is struggling. When will cryptos see a bottom?
• Why Bitcoin, Ethereum, and Dogecoin are down today
• The ATO is collecting crypto taxes. Here are 5 handy expert tips come tax time

Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Bitcoin. The Motley Fool Australia has positions in and has recommended Bitcoin. 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 Liontown Resources Limited (ASX: LTR) share price has been a positive performer this week.

Since the end of last week, this ASX lithium developer’s shares have gained a sizeable 15%.

This compares favourably to a decent 1.9% gain by the ASX 200 index.

Can the Liontown share price keep rising?

The good news for investors is that one leading broker believes the Liontown share price can climb materially from current levels.

According to a note out of Bell Potter, its analysts have retained their speculative buy rating with a trimmed price target of $2.87.

Based on the current Liontown share price of $1.12, this implies potential upside of approximately 150% over the next 12 months.

What did the broker say?

Bell Potter notes that Liontown has signed an offtake agreement and also a funding agreement with auto giant Ford, which has paved the way for the company’s board to approve the development of the Kathleen Valley Lithium Project.

LTR has announced a Final Investment Decision (FID) for its flagship hard-rock lithium project in Western Australia’s northern goldfields, Kathleen Valley. The FID coincides with announcing a $300m debt finance facility with Ford Motor Company and a further 150ktpa spodumene (SC6) binding offtake agreement.

And while the capital cost of the project is expected to be higher than previously forecast, Bell Potter believes this increase is still a good outcome in the current environment.

Containing estimated capital cost escalation ($46m) to around 10% of the initial capital estimate is an excellent outcome in the current inflationary environment.

All in all, the broker feels that Liontown is now “in a strong strategic position in a market for lithium facing supply shortages.”

The post Top broker says the Liontown share price can rise 150% appeared first on The Motley Fool Australia.

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More reading

• 5 things to watch on the ASX 200 on Thursday
• Here are the top 10 ASX shares today
• Here are the 3 most heavily traded ASX 200 shares on Wednesday
• Why Liontown, Metcash, Star, and Weebit Nano shares are charging higher
• 3 ASX All Ords shares dodging selling pressure on Wednesday

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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In times of rising interest rates and market turbulence, many investors turn to dividend-paying ASX shares.

The theory is that while capital growth is anaemic, an income stream helps investors endure the tough part of the cycle before it turns.

With this in mind, Shaw and Partners portfolio manager James Gerrish was recently asked if any ASX dividend shares are worth grabbing for cheap during the current sell-off.

ASX shares are the place to be if you want dividends

The Australian market is particularly favourable for income investing. 

This is because of the country’s franking credit rules and the dominance of big banks and mining companies on the ASX. 

While Gerrish’s team likes the banks for dividends, most Australian investors are overweight in that sector.

“So it makes sense to look elsewhere from a diversification perspective,” he said in his Market Matters Q&A.

“The miners are screening well for income, however, their earnings are very cyclical and we are reticent to think of them as consistent income payers – they simply ebb and flow with the economic cycles.”

So if you remove banks and resources from the picture, what’s left?

Four of the best, going for cheap

Gerrish named four ASX dividend shares that are trading at attractive prices after the recent sell-off:

• Metcash Limited (ASX: MTS)
• Stockland Corporation Ltd (ASX: SGP)
• Telstra Corporation Ltd (ASX: TLS)
• Wesfarmers Ltd (ASX: WES)

Supermarket wholesaler and operator of IGA retail network, Metcash, pays out a handy 5% dividend yield. The share price has lost just 3.8% year-to-date.

Real estate developer Stockland has lost almost 16% in value so far in 2022 but does give out a handsome 7.17% yield.

“We see a lot of value in property stocks after recent weakness,” said Gerrish.

“We also like Centuria Capital Group (ASX: CNI) and National Storage REIT (ASX: NSR), to name a few.”

Old income investor favourite Telstra is currently paying out a 2.8% yield. The share price has dropped 8% year-to-date though.

Shares for conglomerate Wesfarmers have plunged a painful 29.4% so far this year, but its shareholders do reap a 4% dividend yield.

Gerrish left investors seeking income with one final piece of advice.

“Importantly, look for companies with some growth over time so that dividends will increase at a greater clip than inflation.”

The post 4 ASX dividend shares to buy that aren’t banks or miners: expert appeared first on The Motley Fool Australia.

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More reading

• Here are 2 top ASX 200 dividend shares to buy right now according to experts
• Here are the top 10 ASX shares today
• What are brokers saying about the Telstra share price?
• This is the latest ASX 200 sector to be hit by downgrades
• Why Liontown, Metcash, Star, and Weebit Nano shares are charging higher

Motley Fool contributor Tony Yoo 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 Telstra Corporation Limited and Wesfarmers 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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Ask A Fund Manager

The Motley Fool chats with the best in the industry so that you can get an insight into how the professionals think. In this edition, Datt Capital principal Emanuel Datt gives his thoughts on some ASX shares that have caused much pain for investors this year.

Cut or keep?

The Motley Fool: Now we’ll take a look at three ASX shares that have been ravaged this year. First one is Selfwealth Ltd (ASX: SWF), which halved this year before the recent rebound. What would you do with it?

Emanuel Datt: I would say keep. The reason being that, despite the fall in the share price, the company has experienced significant business growth. I think it’s probably doubled in size over the last 12 months. 

We view the share price performance as being more of a function of basically the outflows or the rotation away from these tech and growth themes, more than anything. 

[With] interest rates that are projected to rise going forward, Selfwealth actually has significant leverage to this theme and really benefits from higher interest rates. The reason being is that Selfwealth is actually paid a margin from customers’ funds that are held on its platform. 

Basically, they received the RBA cash rate plus 80 basis points, and I think last quarter they had about $700 million in customer funds on the platform itself. There’s quite significant leverage within the business model to increasing interest rates. 

I think that [there’s] also a cyclical move in terms of retail traders on the stock market. 

It’s probably one that will find its way higher than where we see ourselves now.

MF: Next one has been in the headlines recently — Humm Group Ltd (ASX: HUM), which has halved year-to-date.

ED: Yeah, Humm Group. Look, for this, I would probably say sell. Why I say that is that I think every consumer lending or consumer finance company we’ve seen has experienced decreasing headwinds. I think Humm themselves more or less were trying to hedge that angle as a rationale to [get] the transaction with Latitude Group Holdings Ltd (ASX: LFS) over the line, but ultimately the deal was cancelled.

However, I think that this was probably detrimental to the company overall. Because, ultimately, the expected credit losses will be sitting on Humm Group’s balance sheet basically, rather than being incorporated into Latitude’s business which was a far greater scale. 

Another thing worth mentioning is the fact that the whole board, except the major shareholder, have resigned or indicated that they are going to resign. I think this leads us to, or raises, questions about the governance of the company itself and we’ve seen there the past six months or so, the entire board has been fairly united against the single major shareholder who was against the transaction.

I think that ultimately… if you’re a minority shareholder in the company, ultimately these other directors actually represent your interest, and if they suddenly step off, then who’s there to protect your interests against a majority shareholder who may have other motives? 

I guess that’s why we would say it’s a sell, at least until the dust settles a little bit and the company can provide a bit more clarity about its outlook.

MF: There’s a lot going on there, isn’t there?

ED: Absolutely. It’s a big mix but I think the share price has reacted accordingly. I think the whole Latitude [deal] helped the company out over the last three months and now it’s reverting back to being in line with all the other consumer financiers out there.

MF: The third one is one that is deep, deep in the red in my own portfolio — Appen Ltd (ASX: APX).

ED: Appen, I would probably call that a sell, as well. I think there’s no doubt that there is some value at Appen, in terms of the assets. 

I think it was Telus International Cda Inc (TSE: TIXT) that was contemplating making some form of expression of interest. But also we have Blackstone Inc (NYSE: BX) that was rumoured to be running the ruler over the business itself. 

Ultimately, I think the segment which Appen operates within, I think there is definitely still a future in it. But I think it’s all about being able to profitably renew contracts with its major customers. We just get the sense that there’s been a lot more competition in the particular sector.

Telus was also a competitor [in] exactly the same sector, as well. But, ultimately, in the update that Appen put out, they did guide towards materially lower EBITDA. It raises questions for us because, ultimately, if revenues have fallen, that increases the probability of potentially writing down assets and making a big after-tax loss, which the market will definitely not like. 

Then again, we would probably say sell just with the assumption that there’s no other buyers lurking out there which there very well could be, given the interest the company has attracted in the recent past.

The post Bargains or value traps? Expert rates 3 ASX shares that halved this year appeared first on The Motley Fool Australia.

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More reading

• Why are ASX tech shares struggling today?
• Why Appen, BWX, Imugene, and Wesfarmers shares are dropping
• Down 7%, what’s impacting the Appen share price today?
• Why ASX 200 tech shares are outperforming the market on Friday
• Humm share price tumbles 4% as majority of board exits

Motley Fool contributor Tony Yoo 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 Appen Ltd and The Blackstone Group Inc. The Motley Fool Australia has recommended Humm 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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On Wednesday, the S&P/ASX 200 Index (ASX: XJO) was out of form and dropped deep into the red. The benchmark index fell 0.95% to 6,700.2 points.

Will the market be able to bounce back from this on Thursday? Here are five things to watch:

ASX 200 expected to edge lower

The Australian share market is expected to edge lower on Thursday following a subdued night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 3 points lower this morning. On Wall Street, the Dow Jones was up 0.3%, the S&P 500 fell 0.1%, and the Nasdaq edged 0.05% lower.

Liontown rated as a buy

In response to its agreements with auto giant Ford, Bell Potter has retained its speculative buy rating with a $2.87 price target on the Liontown Resources Limited (ASX: LTR) share price. And while the broker notes that the company has lifted its capital cost estimate for the Kathleen Valley Lithium Project, it feels a 10% increase is an excellent outcome in the current inflationary environment.

Oil prices fall

It could be a tough day for energy shares including Santos Ltd (ASX: STO) and Woodside Energy Group Ltd (ASX: WDS) after oil prices fell overnight. According to Bloomberg, the WTI crude oil price is down 2.1% to US$109.37 a barrel and the Brent crude oil price is down 2.4% to US$115.20 a barrel. This was driven by fears that a recession could lessen demand for oil.

Gold price edges lower

Gold miners Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) will be on watch after the gold price edged lower overnight. According to CNBC, the spot gold price is down 0.05% to US$1,820.2 an ounce. Traders appear undecided about which way gold is heading amid both rate hike and recession fears.

Iluka a strong buy

The Iluka Resources Limited (ASX: ILU) share price could be great value according to Goldman Sachs. This morning the broker reiterated its conviction buy rating and $13.80 price target. The broker commented: “We have done a series of calls with key Chinese zircon importers, major producers and experts/price assessors, and now expect a further US$125-180/t increase in ILU’s zircon pricing from 1 July on a tight supply outlook.”

The post 5 things to watch on the ASX 200 on Thursday appeared first on The Motley Fool Australia.

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More reading

• Volt gets packing as ASX 200 bank shares prove to be a formidable force
• Here are the top 10 ASX shares today
• This is the latest ASX 200 sector to be hit by downgrades
• Here are the 3 most heavily traded ASX 200 shares on Wednesday
• Why Liontown, Metcash, Star, and Weebit Nano shares are charging higher

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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