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The BHP Group Ltd (ASX: BHP) share price has been a strong performer on Wednesday.

In afternoon trade, the mining giant’s shares are up 3% to $46.97.

Why is the BHP share price charging higher?

Today’s rise by the BHP share price mirrors the gains made by the Big Australian’s NYSE listed shares overnight.

This may have been driven by positive sentiment in the materials sector and the mining giant’s presentation at Bank of America Securities 2022 Global Metals, Mining & Steel Conference last night.

What happened at the event?

At the event, BHP’s CEO, Mike Henry, spoke positively about the company’s performance in FY 2022 and its outlook.

Commenting on the company’s performance in FY 2022, he said:

Our Western Australian iron ore business remains on track to achieve full year production and unit cost guidance in spite of the state’s first COVID-19 wave. Amid record high prices, our Queensland metallurgical coal business delivered strong underlying performance. In copper, Spence production is increasing and the Olympic Dam smelter is performing strongly as it returns to full production following planned maintenance.

Looking ahead, Mr Henry remains confident that BHP is well-placed amid rising inflation and a potential economic downturn. He said:

Demand-led inflation though is expected to persist for some time which is a positive for commodity demand and pricing. There is obviously growing concern in some quarters of a further economic downturn.

However, BHP is very well positioned in this environment to continue to create value for our shareholders, partners, and the communities in which we operate. We bring together world-class resources; a strong balance sheet; and a differentiated operating capability, underpinned by our technical centres of excellence and our BHP Operating System.

All in all, this appears to have many believing that the recent weakness in the BHP share price could be a buying opportunity.

The post Why is the BHP share price charging 3% higher today? appeared first on The Motley Fool Australia.

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• Experts name 2 ASX dividend shares to buy with big fully franked yields
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• Is the Telstra share price cheap compared to other ASX 200 shares?
• How big is the BHP dividend yield going to be in 2022 and 2023?

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

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The Sayona Mining Ltd (ASX: SYA) share price is charging ahead during mid-Wednesday afternoon despite no news from the company.

At the time of writing, the emerging lithium producer’s shares are up 10% to 29.7 cents.

What’s powering Sayona shares forward?

Following a rebound on the S&P/ASX 200 Index (ASX: XJO) today, investors are bidding up the Sayona share price.

In contrast, the ASX 200 Index is up 0.84% to 7,172.3 points after strong gains were recorded on Wall Street overnight.

Although the last release from the company came in late April, Sayona shares were pounded last week.

Falling to a 6-week low of 22 cents, it appears investors believe the share price was trading at attractive levels.

It’s worth noting that Sayona shares are significantly down their all-time high of 39 cents reached on 19 April.

Looking at its peers, Allkem Ltd (ASX: AKE) is up 2.24% and Liontown Resources Limited (ASX: LTR) is 3.53% higher.

Furthermore, fan favourite Lake Resources N.L. (ASX: LKE) is treading 3.08% above yesterday’s close.

A catalyst as to which Sayona shares are storming much higher could be because of the large discount from where it was trading a few weeks ago.

Sayona share price snapshot

Since this time last year, the Sayona share price has soared by 840% in value.

In 2022, the company’s shares have continued their impressive trajectory, up 130%.

The robust gains have come on the back of renewed optimism in the lithium market in recent times.

Based on valuation grounds, Sayona Mining has a market capitalisation of roughly $1.83 billion.

The post Here’s why the Sayona share price is up 10% today appeared first on The Motley Fool Australia.

More reading

• Lighting up the market: ASX lithium stocks surge again on Tuesday
• Own ASX lithium shares? Here’s a global expert’s outlook on lithium demand (and supply)
• Why are ASX lithium shares off to such a flying start this week?
• Here’s why ASX lithium stocks are rocketing higher today
• Here’s why the Sayona share price outperformed today

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

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Many of Australia’s top brokers have been busy adjusting their financial models again, leading to the release of a large number of broker notes this week.

Three ASX shares brokers have named as buys this week are listed below. Here’s why they are bullish on them:

Goodman Group (ASX: GMG)

According to a note out of Citi, its analysts have retained their buy rating and $29.50 price target on this industrial property company’s shares. Citi was pleased with Goodman’s third quarter update and believes that recent weakness has created a good entry point for investors. And even though management has upgraded its earnings per share growth guidance again, the broker feels it could still be conservative. The Goodman share price is trading at $19.08 this afternoon.

Mineral Resources Limited (ASX: MIN)

A note out of Credit Suisse reveals that its analysts have initiated coverage on this mining and mining services company’s shares with an outperform rating and $73.00 price target. Credit Suisse believes that the company’s shares are very attractively priced. Particularly given its lithium exposure and pipeline of projects which are expected to support its growth in the coming years. The Mineral Resources share price is fetching $60.14 today.

South32 Ltd (ASX: S32)

Analysts at Macquarie have retained their outperform rating and $6.90 price target on this mining giant’s shares. This follows the release of a strategy and business update earlier this week. Macquarie is confident in South32’s near term outlook following the update, noting that the company is aiming to grow its production by 20% over the next couple of years. Overall, the broker believes this bodes well for earnings and ultimately share buybacks. The South32 share price is trading at $4.71 on Wednesday.

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

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• Macquarie reveals 2 sectors where bargain ASX shares still exist
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• Broker names 3 reasons the South32 share price could be cheap
• ASX 200 midday update: Brambles takeover talks end, resources shares charge higher

Motley Fool contributor James Mickleboro has positions in Life360, Inc. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Life360, Inc. 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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The All Ordinaries Index (ASX: XAO) is putting in another good show today, up 0.9% in early afternoon trading.

While the 1.25% intraday lift by the benchmark is laudable, these two ASX All Ordinaries shares are rewarding shareholders with far bigger gains.

Next-generation semiconductor developer rockets 22%

Weebit Nano Ltd (ASX: WBT) develops next-generation memory technology for the semiconductor industry.

The Weebit share price is up 19.38% at the time of writing, having been up as much as 27% earlier in the day.

Today’s action sees the ASX All Ordinaries share returning a 12 month gain of 46%, while the share price is still down 3% in 2022.

With no news out from Weebit, it looks as if the company may have piqued investor interest at the International Memory Workshop taking place in Dresden, Germany this week. Weebit presented there yesterday.

As the Motley Fool reported earlier, Weebit Nano’s chief scientist Gabriel Molas appeared to outline test results of Weebit ReRAM in 28nm. This was to include details about the technology’s endurance and reliability at high temperatures.

Weebit’s ReRAM technology is based on silicon oxide, reported to be more efficient and cheaper than contemporary flash technology.

This ASX All Ordinaries share is soaring 35% today

You won’t find shareholders of AnteoTech Ltd (ASX: ADO) complaining today.

The ASX All Ordinaries share is up 33% on yesterday’s close, having posted early morning gains of up to 60%.

Despite that big surge, the AnteoTech share price remains down 57% in 2022.

Investors are bidding up the share price today after the nanotechnology-focused company released a positive announcement related to the global pandemic.

AnteoTech reported that it’s received European regulatory approval for its EuGeni COVID-19 Rapid Antigen Test.

As the Motley Fool reported this morning, “Management stated that the new registration is for the same core SARS-CoV-2 Ag Rapid Diagnostic Test registered in April 2021. However, this now covers multiple use claims to include combined nose and throat sampling and nasal mid-turbinate sampling.”

Judging by the ASX All Ordinaries share’s rocketing price, investors appear to believe the approval could have a material impact on the company’s future performance.

The post Why these 2 ASX All Ordinaries shares are surging more than 20% today appeared first on The Motley Fool Australia.

More reading

• Why the AnteoTech share price is rocketing 33% today
• Why is the Weebit Nano share price rocketing 23% higher?

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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News of billionaire mining prospector Mark Creasy buying a large position in Galileo Mining Ltd (ASX: GAL) has reportedly struck a mark of gold on the company’s share price this week.

Shares in the nickel and cobalt explorer have erupted with a 387% spillover into the green in the last 5 days of trading to date.

At the time of writing, the Galileo Mining share price is fetching 97.5 cents after another 23% gain on the day.

Who is Mark Creasy?

Mark Gareth Creasy is a mining entrepreneur whose been described as having the ‘midas touch’ when it comes to investing in prospective and wildcat mining companies.

The mining prospector has been active on Australian listed investments this year, acquiring an $857,000 stake in newly listed Australian Potash Ltd (ASX: APC) and now most recently, Galileo.

Mr Creasy was fortunate enough to find himself situated on The Australian Financial Review’s top 200 rich list for 2021.

Stake in Galileo Mining

According to filings from Galileo this week, Creasy sized up his position by 3 million shares, bringing his total exposure to 44,371,895 shares. Overall, this represents an interest of more than 26%.

He acquired the shares at an average of 58 cents per share for $1.74 million in total.

Creasy’s move follows Galileo’s discovery of significant palladium, platinum, copper, gold, and nickel mineralisation last week, at the Norseman project in WA.

The “thick and consistent zone of mineralisation, and the extensive prospective strike length, suggests the potential for a large mineralised system,” said Galileo Mining’s managing director, Brad Underwood at the time.

Evidently, Creasy was somewhat pleased with the results and there’s valid speculation he made the large upscale in his position on the back of this news.

And with a track record of identifying diamonds in the rough with prospective investments, Creasy’s vote is a seal of approval for Galileo Mining.

After this latest rally, the Galileo Mining share price has secured a more than 333% gain for the year to date.

The post The Galileo Mining share price has rocketed 380% in a week. But this billionaire is still buying up big appeared first on The Motley Fool Australia.

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• Why is the Galileo Mining share price jumping 42% today?
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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 Australia Foundation Investment Co Ltd (ASX: AFI), or AFIC, has long been a stalwart of the ASX boards. It originally opened its doors way back in 1928, and has been doing pretty much the same thing ever since. That would be investing in a broad portfolio of mostly blue-chip ASX shares for the benefit of its owners. Listed investment companies (LICs) like AFIC long pre-date the exchange-traded fund (ETF). Thus, they were one of the only options for passive investors once upon a time.

But these days, the game has changed. ETFs, particularly index funds, are today far more popular than LICs like AFIC. That’s despite some LICs (AFIC included) displaying an ability to beat an equivalent ETF over long periods.

But how does AFIC go compared against other LICs? It certainly isn’t the only LIC out there offering a passive investment strategy. Well, let’s check it out.

So, as of 30 April, AFIC has delivered a return of 14.8% over the preceding 12 months (including dividends and franking). It has also averaged a 13.3% return per annum over the past five years, and 12.8% over the past 10.

Is AFIC the best LIC on the ASX?

AFIC is certainly not the only LIC on the ASX that has been around a long time. Milton Corporation Ltd was another one, but it was absorbed by Washington H. Soul Pattinson and Co Ltd (ASX: SOL) last year. Argo Investments Limited (ASX: ARG) is still going, and, like AFIC, Argo has been around for decades (although not quite as long as AFIC).

Argo shares have returned 13.4% over the past year (again, to 30 April). Over the past five years, this LIC has managed an average return of 8.6% per annum. That rises to 10.3% per annum over the past 10. So AFIC’s looking pretty good against Argo.

But there is another popular LIC on the ASX – WAM Capital Limited (ASX: WAM), run by Wilson Asset Management. WAM Capital has only been around since 1999. It takes a different, more activist approach to earn dough for its investors. At the end of last month, WAM Capital shares had gone backwards by 3.4% over the preceding 12 months (again including dividends). Over the past five years, this LIC has managed an average return of 8.8% per annum. This rises to 12.9% over the past 10. However, these metrics are before fees, whereas the above LICs’ metrics include fees.

So again, it seems AFIC comes out on top here.

There are many, many LICs still on the ASX, so we can’t go through them all. But few have been around as long as AFIC, and even fewer have the long-term record of this LIC to boast of. Thus, on the metrics we’ve gone through, it’s possible to conclude that AFIC is a strong contender for the ASX’s best LIC today.

The post Is AFIC the best LIC on the ASX? appeared first on The Motley Fool Australia.

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• How is the AFIC share price performing with the ASX 200 volatility?
• Why did the AFIC share price go backwards in April?
• Could AFIC shares be an ASX inflation hedge?

Motley Fool contributor Sebastian Bowen has positions in Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia has positions in and has recommended Washington H. Soul Pattinson and Company Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The S&P/ASX 200 Index (ASX: XJO) is continuing its green streak on Wednesday, helped along by shares in the companies below.

They have surged to their highest point in years today, with some reaching record highs.

At the time of writing, the ASX 200 is up 0.83%. That brings its gains for this week so far to 1.37%.

Let’s take a look at what’s sending these stocks to new multi-year highs.

3 ASX 200 shares trading at their highest in years

Amcor (ASX: AMC)

The Amcor share price is pushing higher again after the stock’s US counterpart surged overnight.

Amcor’s stock reached a record high of $18.98 on Wednesday. That represents a 2.37% increase on its previous closing price.

The packaging provider is dual-listed on both the ASX and the New York Stock Exchange.

While Australia slept, its New York listing – Amcor (NYSE: AMCR) – lifted 3% to close Tuesday’s session overseas at US$13.33 a share.

As both listings refer to the same company, it makes sense that the overnight movement in New York might have equated to a gain on the ASX today.

Worley Ltd (ASX: WOR)

The Worley share price is also in the green on Wednesday. It pushed upwards to reach $14.87 earlier today ­– a new post-pandemic high.

Today’s gains come after the ASX 200 energy share announced two pieces of exciting news.

Worley has won a three-year engineering and procurement services contract. The contract will see the engineering company supporting five Shell (LON: SHEL) assets in the Gulf of Mexico.

On top of that, the company announced it has signed a new agreement with its partner Avantium. The pair have agreed to develop a world-first, commercial-scale renewable plastics facility. The facility will produce up to 5,000 kilotonnes of furandicarboxylic acid – a recyclable building block for many chemicals and plastics – each year.

Whitehaven Coal Ltd (ASX: WHC)

Finally, ASX 200 coal producer Whitehaven Coal has seen its share price hit a new multi-year high of $5.35 today. That’s the highest it’s traded since 2018.

There’s been no news from the company today. However, the price of thermal coal rose 2.8% overnight to reach US$413.65 a tonne, according to CommSec.

That could go some way to explaining the stock’s gains today.

The post 3 ASX 200 shares smashing multiyear highs on Wednesday appeared first on The Motley Fool Australia.

More reading

• Here are the best performing dividend shares in the ASX All Ords so far in 2022
• 2 ASX 200 shares smashing multi-year highs today
• What I love about these ‘boring’ ASX shares: fundie
• ASX 200 midday update: Brambles takeover talks end, resources shares charge higher
• My fund just went up 51%: This is how I did it

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 positions in and has recommended Amcor 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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Much has been made of lithium in recent years. As the ‘key’ to a future filled with renewable energy, electric vehicles and absence of fossil fuels, this ‘green metal’ has been a major source of excitement and optimism for ASX investors in recent years. You only need to look at prominent lithium stock prices like Pilbara Minerals Ltd (ASX: PLS) and Core Lithium Ltd (ASX: CXO) over the past year to two to see this in action.

Today, it can be said that lithium-ion batteries represent the peak of rechargeable battery technology. But what if this was to change? After all, it was only a decade or two ago that nickel-cadmium batteries were the dominant technology.

Well, lithium-ion batteries’ days might be numbered too, if an article from Chemistry World is to be believed.

According to the article, machine learning is being used to discover the next generation of battery materials. Prominent amongst these are fluoride-ion batteries. This technology, it is predicted, is “tipped by some to rival, or even replace, lithium-based [batteries]”.

Could lithium batteries become redundant?

Here’s some more of why fluoride-ion batteries have scientists so excited:

In theory, fluoride-ion systems are ideal for batteries in everything from electric vehicles to consumer electronics. That’s because fluoride ions are lightweight, small and highly stable. Fluoride is also cheaper than lithium and cobalt that are required for lithium-ion batteries. What’s more, calculations suggest that fluoride-ion batteries have potential for greater storage capacity than lithium-ion technologies.

If this technology becomes mainstream, it obviously has huge implications for lithium stocks. Lithium is a metal with all kinds of uses, of course. But if the metal does not play a huge role in the electrification of the world over the next decade or two, it’s arguably fair to say that a big chunk of the ‘lithium bull case’ could be flawed.

In saying that, there are reportedly still some massive barriers to fluoride-ion technology. The article describes research as “still in its infancy”. The chemistry is difficult, with “not many materials… known to conduct fluoride ions, a vital requirement”. However, scientists at the University of North Carolina in the United States are still working through these issues. Researcher Scott Warren told Chemistry World that, “we’ve just submitted a patent for some of the most exciting compositions” in their research into the new battery technology. Exciting stuff.

Who knows what the future for renewable energy and batteries looks like. But perhaps investors shouldn’t be so convinced lithium-ion batteries will always be the dominant technology.

The post Could this ‘extremely cheap’ material eventually replace lithium in batteries? appeared first on The Motley Fool Australia.

More reading

• Is AFIC the best LIC on the ASX?
• 3 ASX 200 shares smashing multiyear highs on Wednesday
• Why I would invest $10,000 into these ASX shares today
• Is the Zip share price set to hit another unhappy milestone this week?
• 2 top metaverse stocks I think are ready for a bull run

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

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Although the Australian share market is rebounding today, it’s still trading a long way from its recent highs. In light of this, now might be an opportune time to consider entering the market.

If you’re looking to invest $10,000 into the share market, then it could be worth considering the two ASX shares listed below. Here’s why I rate them as buys:

CSL Limited (ASX: CSL)

The first ASX share I would recommend investors look at is CSL. Particularly with the biotherapeutics giant’s shares down 15% from their highs. This weakness has been caused by concerns over plasma collection headwinds, which appear to be easing now.

In addition, at the same time that supply is increasing, the company is implementing the recently FDA-cleared Rika Plasma Donation System across its collection centres. This new technology has been designed to enable the collection of more plasma in shorter periods of time.

Looking further ahead, the company’s investment in research and development means it has a pipeline of potentially lucrative therapies to support its growth, along with the impending acquisition of Vifor Pharma.

All in all, this appears to have left CSL well-positioned to deliver solid earnings growth over the long-term, which could make its shares a great buy and hold option.

Domino’s Pizza Enterprises Ltd (ASX: DMP)

Another ASX share that could be a quality option for a $10,000 investment is Domino’s. It is one of the world’s largest pizza chain operators with approximately 3,200 stores across the ANZ, Asia-Pacific, and European regions.

Its shares have lost more than 40% of their value in 2022 for a number of reasons. These include a softer than expected performance during the first half in Asia, inflation concerns, and a de-rating of growth shares.

While this is disappointing, I think it could be a buying opportunity for long-term focused investors. Particularly given the company’s bold expansion plans and strong balance sheet.

The former sees Domino’s planning to grow its store network to 6,650 stores by 2033. Whereas the latter provides management with opportunities to pursue suitable acquisitions through its One Brand, One Focus strategy.

So, with Domino’s shares trading on much lower than average multiples at present, now could be an opportune time to pounce.

The post Why I would invest $10,000 into these ASX shares today appeared first on The Motley Fool Australia.

More reading

• Is the Telstra share price cheap compared to other ASX 200 shares?
• Why CSL shares are ‘going to deliver’ in 2022: fund manager
• ‘Future-proof your portfolio’: experts pick 3 quality growth ASX shares to buy
• Where next for the CSL share price?
• CSL share price cracks under Vifor Pharma acquisition delay

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 CSL Ltd. The Motley Fool Australia has recommended Dominos Pizza Enterprises Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Zip Co Ltd (ASX: ZIP) share price has hit multiple disappointing milestones in 2022 and it could be about to hit another.

It was only eight days ago The Motley Fool Australia reported the buy now, pay later (BNPL) stock had dipped below $1 for the first time in years.

And today we’re wondering if the stock will dip below the 90-cent mark – a milestone it hasn’t seen since 2018.

At the time of writing, the Zip share price is sitting at 90 cents, 2.17% lower than its previous close.

For context, the S&P/ASX 200 Index (ASX: XJO) is currently up 0.83%.

Let’s take a closer look at what’s been going on with the BNPL share lately.

Could the Zip share price fall below 90 cents?

 The Zip share price is sitting at a new 52-week low right now, bang on the milestone 90 cents mark.

It’s a sight that not many would have expected to see at the start of 2022. The Zip share price ended last year at $4.33. Since then it has shed a massive 79%.

Over the same period, the ASX 200 has slipped 5% and the S&P/ASX 200 All Technology Index (ASX: XTX) has plummeted 31%.

At the same time, Zip’s ASX-listed BNPL peer Sezzle Inc (ASX: SZL) – which Zip is currently in the process of acquiring – has also tumbled 79%.

Over the last two weeks, the Zip share price has spent just three sessions in the green, falling 22% in that time, alongside the broader tech sector.

But Zip is falling behind its technology peers today. Right now, the S&P/ASX 200 Information Technology Index (ASX: XIJ) is boasting a 1.05% gain while the All Technology Index is up 1.67%.

However, the S&P/ASX 200 Financials Index (ASX: XFJ) – where Zip technically calls home – is down 0.18% at the time of writing.

The post Is the Zip share price set to hit another unhappy milestone this week? appeared first on The Motley Fool Australia.

More reading

• Why is the Zip share price down almost 25% in a month?
• Why did the Zip share price just pop then drop?
• Blast off! Why is the Zip share price zooming on Friday?
• Zip share price tumbles 5% to another multi-year low
• ASX 200 tech shares are staging a remarkable recovery today

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 positions in and has recommended ZIPCOLTD FPO. 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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