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May 2022 saw the Wesfarmers Ltd (ASX: WES) share price go backwards. Could June 2022 be better for the business?

Wesfarmers is one of the biggest businesses in Australia. It operates a number of well-recognised Australian retailers including Bunnings, Officeworks, Kmart, Catch and Target.

The latest we’ve heard from the business was from a strategy briefing day.

Investor day

Wesfarmers re-iterated to investors that its primary objective is to provide a satisfactory return to shareholders. There are a number of areas that it’s focusing on to make those returns happen.

One of those factors is “anticipating the needs of our customers and delivering competitive goods and services.” Another is “looking after our team members and providing a safe, fulfilling work environment.” A third one was “taking care of the environment”.

Wesfarmers is currently working on its data and digital ecosystem. It established ‘OneDigital’ in the second half of FY22 and extended the benefits of the OnePass membership program to Kmart and Target.

It has strengthened its e-commerce capabilities, while Bunnings and Officeworks have partnered with Flybuys.

The company also said that it’s developing platforms for long-term growth.

It’s putting money into developing the Mt Holland lithium project.

Wesfarmers has established a health division after acquiring Australian Pharmaceutical Industries.

It is exploring capacity expansion and adjacent industry opportunities within WesCEF (chemicals, energy and fertilisers). Those opportunities it’s looking at include ammonia and sodium cyanide plants, as well as clean energy projects.

Management is also working on the continued development of Bunnings, including Tool Kit Depot and Beaumont Tiles. Bunnings is a large contributor to the Wesfarmers profit and therefore the Wesfarmers share price.

Improving operations

The ASX share also noted that it’s looking to accelerate the pace of its continuous improvement.

Areas of focus include improving supply chain capabilities, increasing resilience and operational agility, optimising store networks, focusing on sustainability and supporting team members and the community.

Outlook

Investors like to focus on the potential outlook, so investors may be taking that into account with the Wesfarmers share price.

The company noted that market conditions remain uncertain and “challenging”. There have been continued COVID-related disruptions to the global supply chain and labour availability in some states. It also noted inflationary impacts, though the business wants to be a price leader for customers.

Wesfarmers says that it’s focused on building market share and integrating sustainable practices to ensure long-term profitability.

Expert ratings on the Wesfarmers share price

Opinions are quite mixed on the business.

On the one hand, there is a broker like Morgans with a buy rating on Wesfarmers and a price target of $58.40. That suggests a possible rise of more than 20% over the next 12 months.

Then there’s Citi which rates Wesfarmers as a sell, with a price target of just $42. One of the reasons for the cautiousness is that Bunnings could face earnings difficulties as house prices decline.

However, while these ratings are opposite, the profit estimates are quite similar. Citi thinks the Wesfarmers share price is valued at 24 times FY22’s estimated earnings with a projected grossed-up dividend yield of 5.4%.

The post What’s in store for the Wesfarmers share price in June? appeared first on The Motley Fool Australia.

More reading

• 2 more of this broker’s best ASX share ideas for June
• 5 things to watch on the ASX 200 on Friday
• ASX 200 midday update: Pilbara Minerals names new CEO, Wesfarmers’ strategy update
• Why is the Wesfarmers share price slipping today?
• Top brokers name 3 ASX shares to buy today

Citigroup is an advertising partner of The Ascent, a Motley Fool company. 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 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.

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Looking for dividends shares to buy for your income portfolio? If you are, you may want to check out the two listed below.

Here’s what you need to know about these ASX dividend shares:

Baby Bunting Group Ltd (ASX: BBN)

The first ASX dividend share that could be in the buy zone is Baby Bunting. It is a leading baby products retailer with a network of superstores across Australia.

While the retail sector is a tough place to be right now due to rising inflation, the team at Citi remains very positive on the company. Last month, the broker retained its buy rating and $6.22 price target on its shares.

Citi is particularly positive on Baby Bunting due to its private label opportunity, which it believes has a significant runway for growth. It also highlights that it has a strong position in a less discretionary category. It expects this to support strong sales and earnings growth in the coming years.

As for dividends, Citi 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 $4.35, this will mean yields of 3.7% and 4.4%, respectively.

HomeCo Daily Needs REIT (ASX: HDN)

Another ASX dividend share that has been rated as a buy is HomeCo Daily Needs REIT. It is a property company with a focus on neighbourhood retail, health and services, and large format retail. The latter include retail parks that were owned by Aventus before the two companies merged.

Goldman Sachs is a big fan of HomeCo Daily Needs and has a buy rating and $1.70 price target on its shares.

Its analysts believe the company is well positioned to benefit from the shift to omni channel retailing. Goldman also highlights that the company has additional external growth opportunities to drive earnings growth over the medium-term. This includes development and asset optimisation opportunities.

As for dividends, the broker is forecasting dividends per share of 8 cents in FY 2022 and 9 cents in FY 2023. Based on the current HomeCo Daily Needs share price of $1.33, this will mean dividend yields of 6% and 6.75%, respectively.

The post Here are 2 excellent ASX dividend shares rated as buys appeared first on The Motley Fool Australia.

More reading

• Experts are tipping these ASX dividend shares as buys
• Experts name 2 ASX dividend shares to buy
• Experts name 2 cheap dividend shares to buy now
• 2 ASX shares that could be buys for both growth and dividends
• Analysts name 2 ASX shares to buy with ~50% upside potential

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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Investors have sold off shares of Macquarie Telecom Group Ltd (ASX: MAQ) in recent weeks, pushing prices 11% lower this past month of trade.

At the time of writing, the MAQ share price is also down 13% this year to date, fetching $63.37 apiece at the close on Friday.

Despite the downward pressure, market pundits still see value in the stock, sliding against the market’s view on the company.

Beaten down, but not beaten

When asked about resilient stocks on his radar recently, Gary Rollo from Montgomery Investment Management was straight to the point in naming Macquarie Telecom.

The data centre player has “got major clients like the cloud hyper-scalers as clients… growing their business pretty strongly and also the Aussie government,” he noted when speaking to Livewire’s Buy, Hold, Sell. 

“They’re basically digitalising more rapidly than the market probably expects.”

Rollo added the strength of Macquarie Telecom’s balance sheet and that he saw “great numbers in the second half” from the company.

In the group’s latest earnings results, revenue saw a 4% uptick to $149 million whereas pre-tax earnings came in 11% higher at $40.5 million.

From this amount, operating cash flows were reported at $37.6 million, a year-on-year gain of more than $10 million. Rollo added:

[With] Macquarie Telecom, you’re not going to go wrong and it’s got lots of value left on the table. We think it’s worth somewhere between $80 and a hundred bucks, even in a higher interest rate environment.

Macquarie Telecom bounced from a 3-month low of $56.37 on 26 May in a relief rally that extended to $64.40 per share.

Prices have levelled off but Rollo appears to be a buyer at these levels keeping a long term, fundamental framework in mind.

Despite the volatility this year, the Macquarie Telecom share price has clipped a 27% gain in the past 12 months.

The post Why ‘you’re not going to go wrong’ with the Macquarie Telecom share price: fundie appeared first on The Motley Fool Australia.

More reading

• Here are 2 excellent ASX dividend shares rated as buys
• These were the worst performing ASX 200 shares last week
• Why has the Nearmap share price dumped 20% since the end of March?
• Energy crisis: Which is the better buy, AGL vs Origin?
• These were the best performing ASX 200 shares last week

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

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The S&P/ASX 200 Index (ASX: XJO) was on form again last week and recorded its third successive weekly gain. The benchmark index rose 0.8% over the period to end it at 7,238.8 points.

Unfortunately, not all shares climbed with the market. Here’s why these were the worst performers on the ASX 200 last week:

Pilbara Minerals Ltd (ASX: PLS)

The Pilbara Minerals share price was the worst performer on the ASX 200 last week with a 16.5% decline. Investors were selling lithium shares amid concerns over the outlook for lithium prices. This followed a bearish note out of Goldman Sachs, which reiterated its belief that lithium prices will fall heavily in the coming years, and news that Chinese electric vehicle company BYD is looking to buy six lithium mines in African. BYD expects the mines to produce 1 million tonnes of lithium carbonate each year. That would be enough to build at least 27.78 million electric vehicles, which covers the automaker’s expected demand for the next decade.

Allkem Ltd (ASX: AKE)

The Allkem share price wasn’t far behind with a weekly decline of 15.4%. This was driven by the same news above. In addition, analysts at Credit Suisse downgraded its shares from an outperform rating to a neutral rating and cut the price target on them to $14.70. Credit Suisse expects lithium supply to meet demand in the next couple of years before falling into a surplus in 2025.

Healius Ltd (ASX: HLS)

The Healius share price was out of form and dropped 10.6% last week. The majority of this decline came on Friday following the release of the healthcare company’s trading update. That update revealed that trading conditions have been tough in the second half. As a result, during the first five months of the half, Healius has generated just under $100 million of EBIT. This brought its year-to-date EBIT to $473 million. As a comparison, Goldman Sachs has been forecasting EBIT of $563.3 million in FY 2022. Healius looks unlikely to achieve this.

Imugene Limited (ASX: IMU)

The Imugene share price continued its slide last week and dropped 10.5% over the period. This means that the biotech company’s shares are now down 60% since the start of the year. Valuation concerns continue to weigh on its shares.

The post These were the worst performing ASX 200 shares last week appeared first on The Motley Fool Australia.

More reading

• These were the best performing ASX 200 shares last week
• Here are the top 10 ASX shares today
• Here are the 3 most traded ASX 200 shares on Friday
• One broker’s outlook for lithium supply and demand and what it could mean for ASX lithium shares
• Why Ansell, Domino’s, Firefinch, and Healius shares are dropping

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 no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The past two months or so haven’t exactly been a happy time for ASX shares. Since the end of March, the All Ordinaries Index (ASX: XAO) has lost around 4.2% of its value. But it’s been a far harder time for the Nearmap Ltd (ASX: NEA) share price.

Nearmap, an aerial mapping company, has seen its shares fall from more than $1.50 each in late March to today’s price of $1.175 at the close of trade on Friday. That represents a fall of more than 20% in just two months or so.

So why have Nearmap shares been suffering so severely over the past two months?

Why has the Nearmap share price tanked?

Well, it’s not entirely clear what’s happened to the Nearmap share price.

It’s very possible that these falls could have been sparked by the flood of cash we have seen fleeing the tech sector over the past few months. Tech shares of all shapes and sizes have been experiencing some heavy volatility over the year to date.

Since late March, the S&P/ASX All Technology Index (ASX: XTX) has lost close to 20% of its value. We’ve seen this play out in other ASX tech shares like Block Inc (ASX: SQ2), Zip Co Ltd (ASX: ZIP) and Xero Limited (ASX: XRO).

All of these companies have lost more than 20% of their value since the end of March. Block is down almost 40%, Zip almost 50%. So in the context of these moves, the Nearmap share price’s experience doesn’t seem too peculiar.

According to an expert…

But Nearmap has also been suffering from some coolness towards its shares from ASX brokers. Back in April, my Fool colleague covered how broker Macquarie downgraded Nearmap shares to a neutral rating, with a 12-month share price target of $1.34. This may have helped Nearmap shares slump 3.5% at the time. Not exactly a ringing endorsement.

So it’s probably a combination of these factors that have led Nearmap shares to such a dismal performance of late. No doubt investors will be hoping the next two months are more fruitful than the last two.

At the current Nearmap share price, this ASX tech share has a market capitalisation of $581.56 million.

The post Why has the Nearmap share price dumped 20% since the end of March? appeared first on The Motley Fool Australia.

More reading

• Nearmap share price jumps 9% on Friday
• How much further can ASX 200 tech shares tumble? Macquarie weighs in

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 positions in and has recommended Block, Inc., Nearmap Ltd., and Xero. The Motley Fool Australia has positions in and has recommended Block, Inc., Nearmap Ltd., and Xero. The Motley Fool Australia has recommended Macquarie Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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Energy costs are skyrocketing, so much so that it’s taking up the front pages of newspapers.

Russia’s invasion of Ukraine has triggered an international shortage that has reached all the way to the other side of the planet, with gas and electricity providers hiking prices.

The energy crisis is so bad that one electricity retailer this week urged customers to switch to another provider before their bill doubles.

So does this mean ASX-listed companies like Origin Energy Ltd (ASX: ORG) and AGL Energy Limited (ASX: AGL) are wise buys right now?

Morgans analyst Max Vickerson took a look at the situation and picked which one he would back:

Energy retail market in crisis

The crisis is starting to have a snowball effect. Smaller retailers urging their own customers to leave will reduce competition in the medium term.

But this is good news for bigger power providers.

“Retailers like AGL that can cover most of the higher wholesale prices with fixed fuel contracts should see margins expand,” Vickerson said on the Morgans blog.

He explained that spot prices for power are remaining “stubbornly and consistently high”, indicating it’s not short-term demand surges that are causing the cost spike.

“In that kind of environment baseload generation is the most effective and fuel efficient method to cover spot market exposures.”

Baseload futures indicate spot prices will remain high well into the 2025 financial year.

AGL vs Origin: The verdict

So is Origin or AGL the better buy at the moment?

Origin this week announced a significant downgrade to its outlook, which saw its share price tumble 15% in one day.

But it’s not like AGL hasn’t had its problems. Technology entrepreneur Mike Cannon-Brookes led a shareholder campaign that forced the company to drop demerger plans and saw its chair and CEO depart last week.

Despite the governance issues, Vickerson feels like AGL is in a better position to navigate through the current energy crisis.

“AGL’s fixed price NSW coal contracts, better logistics and its integrated mining operation in Victoria will insulate it from the worst of the forces that have driven Origin to withdraw its FY23 energy markets guidance.”

He expects AGL will fix its boardroom issues soon enough, and rates the stock as a buy.

“AGL Energy’s standing has suffered because of the wrangling over the long term direction of the company, but the generation assets support stronger margins as consumer prices increase.”

Meanwhile, Vickerson is “wary” of buying into Origin shares, despite the current discount.

“By withdrawing guidance, management has highlighted the risks that can get amplified while spot electricity markets are so unruly,” he said.

“We retain our hold rating and will wait to see how the wholesale market fares during the coming peak winter season.”

The Origin share price is up 13.25% year to date, notwithstanding this week’s plunge. AGL shares have risen a tidy 38.35% since the start of the year.

Both pay reasonable dividends. AGL has a current yield of 5.7% and Origin 3.3%.

The post Energy crisis: Which is the better buy, AGL vs Origin? appeared first on The Motley Fool Australia.

More reading

• In the dark: ASX energy shares facing a perfect storm
• Why Allkem, Origin, PointsBet, and Zip shares are sinking today
• AGL share price unscathed by scrapped demerger. What’s going on?
• ASX 200 midday update: NAB completes acquisition, lithium miners sink, Origin tumbles
• Why is the Origin share price tumbling 15% today?

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 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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Last week the S&P/ASX 200 Index (ASX: XJO) recorded its third successive weekly gain. The benchmark index climbed 0.8% to end the period at 7,238.8 points.

While a good number of shares climbed with the market, some rose more than most. Here’s why these were the best performers on the ASX 200 last week:

Beach Energy Ltd (ASX: BPT)

The Beach share price was the best performer on the ASX 200 last week with an 11% gain. Investors were buying Beach and other energy shares after oil prices charged higher. This was driven by the European Union slapping a partial ban on Russian oil imports and news that China is easing its COVID-19 restrictions.

A2 Milk Company Ltd (ASX: A2M)

The A2 Milk share price wasn’t far behind with a gain of 10.2% over the period. This was driven by news that Bubs Australia Ltd (ASX: BUB) has signed a deal with the Biden Administration in the United States for the supply of 1.5 million tins of infant formula. This was in response to infant formula shortages due to the temporary closure of a major manufacturing plant. Investors appear optimistic that A2 Milk may also be able to benefit from these shortages.

Fortescue Metals Group Limited (ASX: FMG)

The Fortescue share price was on form and charged 9.6% higher over the last week. Investors were buying Fortescue and other iron ore mining shares after the price of the steel-making ingredient jumped again. For example, on Friday, the benchmark 62% fines iron ore price rose by US$6.86 or 5.1% to US$142.20 a tonne.

South32 Ltd (ASX: S32)

The South32 share price was a positive performer and rose 7.9% over the five days. Last week, this mining giant announced that it has finalised the purchase of an extra 16.6% stake in Mozal Aluminium. This increases its overall stake to 63.7% and means that the company’s equity share of aluminium production is now expected to be 281kt for FY 2022 and 370kt for FY 2023. In other news, analysts at Macquarie retained their outperform rating and $6.90 price target on its shares.

The post These were the best performing ASX 200 shares last week appeared first on The Motley Fool Australia.

More reading

• Here are the top 10 ASX shares today
• Here are the 3 most traded ASX 200 shares on Friday
• Why Altium, Fortescue, PeopleIn, and REA shares are storming higher
• 3 ASX 200 energy shares smashing multi-year highs on Friday
• Why are the ASX 200 iron ore giants outperforming on Friday?

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 A2 Milk and BUBS AUST FPO. 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.

Bear markets aren’t fun. But despite the near-term pain, these challenging market conditions create an opportunity for investors to acquire industry-leading assets at a discount to their previous highs. Let’s explore why Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) could make great ways for investors to bet on a long-term crypto rebound. 

1. Bitcoin 

With a current price of $30,100, Bitcoin is down 56% from its all-time high of roughly $68,800, reached in November 2021. But this dip could represent a good entry point for investors, because the iconic asset’s long-term bull thesis as an increasingly trusted store of value remains intact. 

Never underestimate the power of a first-mover advantage. It gives an entity name recognition, which can translate into trust and staying power. And after the high-profile meltdown of Terra/Luna (a $40 billion blockchain that collapsed 99% after its complex stablecoin algorithm failed), Bitcoin looks even more appealing. Its relatively simple design and 13-year track record make it ideal for investors who want a reliable place to keep and potentially grow their wealth without all the frills. 

Bitcoin’s strong brand has also earned it institutional interest from organizations such as the derivatives marketplace CME Group, which offers Bitcoin (along with Ethereum) futures. Institutional investment can help improve the liquidity of the Bitcoin market, and possibly reduce its volatility relative to more speculative and illiquid cryptocurrencies. 

2. Ethereum

As the second-largest cryptocurrency with a market cap of $223 billion, Ethereum enjoys much of the same trust and brand recognition that gives Bitcoin its staying power. But the asset’s utility and ambitious development roadmap will give it a long-term edge over rivals. 

Unlike Bitcoin, which primarily serves as a way for people to store and transfer wealth, Ethereum boasts a much broader use case. The blockchain is optimized to support autonomous programs called decentralized applications (dApps), which use smart contracts to offer services on the blockchain. And it is the undisputed leader in this category, hosting almost 3,000 of the roughly 4,000 projects. 

To keep up with demand, Ethereum’s developers are implementing an ambitious upgrade called The Merge, which will transition Ethereum from a proof-of-work consensus mechanism where miners solve puzzles to verify transactions and mint new coins to a proof-of-stake where users can verify transactions by locking up or staking’ existing coins in return for new ones.

The first step in this process is expected to go live in August, reducing Ethereum’s energy consumption by over 99% and opening the door for more changes to improve the platform’s speed and scalability. 

Get greedy when others are fearful

It’s tempting to buy when prices are rising and sell when they are falling, but investing legends like Warren Buffett recommend doing the opposite. Buying during a bear market allows you to get in cheaper and capitalize on the potential recovery. Bitcoin and Ethereum’s industry leadership and active development could make them top picks for investors who want to get greedy when others are fearful.   

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

The post 2 top cryptocurrencies to buy and hold for decades appeared first on The Motley Fool Australia.

More reading

• Why did crypto prices get massacred in May?
• Can the Ethereum price redeem itself in June? Crypto experts weigh in
• Has the Bitcoin price bottomed?
• Why is the Bitcoin price bouncing back this week?
• Down 17%, what went so wrong for the Bitcoin price in May?

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Bitcoin and Ethereum. The Motley Fool Australia owns and has recommended Bitcoin, Ethereum and Terra. 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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There are a lot of shares to choose from on the Australian share market.

In order to narrow things down for investors, listed below are two ASX shares that are highly rated by analysts at Goldman Sachs. Here’s what the broker is saying about them:

Goodman Group (ASX: GMG)

The first ASX share that Goldman Sachs rates highly is Goodman Group. It is a leading integrated commercial and industrial property company with a portfolio of in-demand properties with exposure to key growth markets such as ecommerce.

Goodman has continued to experience strong demand for its properties in FY 2022. So much so, it recent upgraded its guidance again and is now expecting its earnings per share to grow 23% in FY 2022.

Goldman Sachs expects this solid form to continue. It commented:

We continue to forecast a ~19% CAGR in AUM over FY21-24e, with AUM reaching ~A$90bn by end FY24. We forecast development completions to contribute the majority (~75%) of AUM growth over 1H22-FY24e (based on development production of ~A$7bn pa). Furthermore, we note the robust levels of industrial rental growth being observed in a number of GMG’s key global markets, and expect this to underpin further growth in asset valuations

Goldman has a buy rating and $25.40 price target on the company’s shares.

Nitro Software Ltd (ASX: NTO)

Another ASX share that Goldman is bullish on is Nitro Software. It is the global document productivity software company behind the Nitro Productivity Suite. This suite offers businesses of all size integrated PDF productivity and eSignature tools.

Goldman Sachs sees it as a great long term pick for investors. Especially after after its shares were sold off this year.

It commented:

We appreciate that a material re-rate likely requires a change in sentiment towards unprofitable tech companies, however we think NTO screens attractively relative to tech peers and on a longer-term view. Our focus now shifts to NTO’s execution on its pipeline of new business and e-sign cross-sell opportunities, with concerns over balance sheet now eased. We see NTO as an attractive long-term growth opportunity at a discounted valuation.

Goldman Sachs has a buy rating and $2.35 price target on the company’s shares.

The post Goldman Sachs rates these ASX shares as buys appeared first on The Motley Fool Australia.

More reading

• 2 ASX shares to buy if you don’t want to invest in the share market: experts
• Why has the Goodman share price tanked 14% in a month?
• Experts name 2 top ASX growth shares to buy in June
• Why I’d buy these 2 ASX 200 shares
• How to turn $20,000 into $180,000 in 10 years with ASX shares

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 Goldman Sachs. The Motley Fool Australia has recommended Nitro Software 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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Today, the S&P/ASX 200 Index (ASX: XJO) paraded its third consecutive week of positive performance. At the end of the session, the benchmark index finished 0.88% higher at 7,238.8 points.

The lingering prospect of a 40 basis point increase to the Australian cash rate on Tuesday next week was not enough to shake investors of their bullish sentiment today.

Only one lonesome sector was unable to finish in the green today. The consumer discretionary sector was weighed down by disappointing performances from Domino’s Pizza Enterprises Ltd (ASX: DMP) and Wesfarmers Ltd (ASX: WES).

However, the question is: which shares delivered the biggest returns to investors on the ASX today? Here are the top ten stocks that came through for investors:

Top 10 ASX shares countdown today

Looking at the top 200 listed companies, Champion Iron Ltd (ASX: CIA) was the biggest gainer today. Shares in the iron ore exploration company jumped 8.14% as the price of the steel-making commodity rose to US$142.20 per tonne. Find out more about Champion Iron here.

The next best performing ASX share across the market today was Pilbara Minerals Ltd (ASX: PLS). The big name lithium producer experienced a generous 7.46% uptick in its share price as lithium companies continued their rebound on Friday. Uncover the latest Pilbara Minerals details here.

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

ASX-listed company	Share price	Price change
Champion Iron Ltd (ASX: CIA)	$7.84	8.14%
Pilbara Minerals Ltd (ASX: PLS)	$2.45	7.46%
Liontown Resources Ltd (ASX: LTR)	$1.27	6.72%
Nickel Industries Ltd (ASX: NIC)	$1.295	6.58%
Core Lithium Ltd (ASX: CXO)	$1.215	6.58%
Summerset Group Holdings Ltd (ASX: SNZ)	$9.58	6.44%
Wisetech Global Ltd (ASX: WTC)	$42.94	5.07%
Grange Resources Ltd (ASX: GRR)	$1.69	4.97%
Mineral Resources Ltd (ASX: MIN)	$60.35	4.81%
Block Inc (ASX: SQ2)	$119.76	4.52%

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.

More reading

• Why did the Nickel Industries share price leap 7% on Friday?
• Here are the 3 most traded ASX 200 shares on Friday
• One broker’s outlook for lithium supply and demand and what it could mean for ASX lithium shares
• Why are the ASX 200 iron ore giants outperforming on Friday?
• ASX 200 midday update: Healius disappoints, BHP and Fortescue storm higher

Motley Fool contributor Mitchell Lawler has positions in Block, Inc. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Block, Inc. and WiseTech Global. The Motley Fool Australia has positions in and has recommended Block, Inc., Wesfarmers Limited, and WiseTech Global. 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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