Tag: Motley Fool

The CSL Limited (ASX: CSL) share price has been a positive performer on Wednesday.

In afternoon trade, the biotherapeutics giant’s shares are up 2.5% to $277.12.

This compares favourably to a 0.1% decline by the ASX 200 index.

Why is the CSL share price rising today?

There have been a couple of catalysts for the rise in the CSL share price today.

One has been a legal breakthrough in the United States and the other is the release of a couple of bullish broker notes.

In respect to the former, according to the SMH, CSL and Grifols now have a right to appeal the banning of Mexican citizens from crossing the border to donate plasma. Its previous appeal to have the ban overturned was rejected, but that rejection was found to have been improperly dismissed.

And while there is no guarantee that the two parties will be able to successfully overturn the decision, it is a step in the right direction.

What else?

Also giving the CSL share price a boost today has been the release of broker notes out of Jefferies and Morgan Stanley.

Both brokers have retained the equivalent of buy ratings with $315 and $310 price targets, respectively.

Jefferies highlights that CSL’s impending shift to a new plasma collection system could be a big boost to sales and margins over the coming years. It commented: “We believe CSL has this relationship with Terumo exclusively for 4-5 years, and so these benefits are likely to be sustainable.”

The post What is driving the CSL share price higher today? appeared first on The Motley Fool Australia.

More reading

• 2 ASX shares at ‘appealing’ buy prices right now
• How did the CSL share price escape the carnage today?
• Macquarie picks ASX 200 shares to buy in this volatile environment
• 4 ‘defensive growth’ ASX shares to buy in turbulent times: Wilsons
• The CSL share price has tumbled 8% this year. Here’s why these top brokers still have faith

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

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

The Galileo Mining Ltd (ASX: GAL) share price is soaring today on the back of a major discovery.

The company’s shares are currently trading at 50 cents apiece, a 150% gain. In comparison, the S&P/ASX 200 Materials Index (ASX: XMJ) is down 0.08% at the time of writing.

Let’s take a look at what Galileo Mining announced today.

Significant Palladium Platinum discovery

Galileo Mining discovered “significant” palladium, platinum, copper, gold, and nickel mineralisation at the Norseman project in Western Australia.

Drilling from 144m at hole NRC266 intersected with 33 metres at 1.64 grams per tonne (g/t) palladium, 0.28 g/t platinum, 0.09 g/t gold, 0.32% copper, and 0.3% nickel including:

• 6 metres at 2.21 g/t palladium, 0.37 g/t platinum, 0.11 g/t gold, 0.41% copper and 0.36% nickel from 159 metres
• 1 metre at 2.66 g/t palladium, 0.41 g/t platinum, 0.14 g/t gold, 0.48% copper and 0.46% nickel from 176 metres

The 33 metre intersection is within a broader 55 metre disseminated sulphide zone. Galileo said this shows the potential for a large mineralised system.

Commenting on the news, managing director Brad Underwood said:

While we are at an early stage in the discovery process, the thick and consistent zone of mineralisation, and the extensive prospective strike length, suggests the potential for a large mineralised system.

Galileo remains fully funded with $8.2 million at the end of the March quarter and able to continue aggressive exploration programs at all our projects. We look forward to updating the market as work progresses on this exciting new West Australian discovery.

Galileo noted it also has multiple targets at the company’s Jimberlana and Mission Sill prospects, providing the opportunity for more discoveries.

Share price snapshot

The Galileo Mining share price soared 83% in the past year while it is up 116% year to date.

In the past month, the company’s shares have rocketed 120% and are 106% higher in the past week alone.

For perspective, the S&P/ASX 200 Materials Index (ASX: XMJ) has fallen 7% in a year.

Galileo Mining has a market capitalisation of about $81 million.

The post Galileo Mining share price explodes 150% on major discovery appeared first on The Motley Fool Australia.

More reading

• Why is the Fortescue share price rebounding today?
• The NAB share price is in reverse today. Here’s why
• Dicker Data share price charges higher following stellar Q1 growth
• Why are ASX 200 mining shares in the green today?
• Do Coles shares offer a dividend reinvestment plan?

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

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

The S&P/ASX 200 Index (ASX: XJO) looks set for another wild day of trading this Wednesday. The ASX 200 took a pretty big dive this morning but has since stabilised at around 7,040 points at the time of writing, down by 0.11% so far today. But it’s the Fortescue Metals Group Limited (ASX: FMG) share price that has shown far more volatility than the broader markets today.

Fortescue shares are currently trading at $19.20 each, up a pleasing 0.5% so far today. But that comes after the mining giant closed at $19.11 yesterday and opened at $19.45 this morning. What’s more, soon after market open, Fortescue took a dive all the way down to $18.87 a share (a fall close to 3%). But that was only for the miner to recover to its current level. What a rollercoaster of a ride.

So what could be behind this dramatic rebound for Fortescue shares?

Why has the Fortescue share price bounced back today?

Well, we can’t be absolutely certain but it’s possible that it is a rebound in the price of iron ore itself that could be to thank. According to reporting in The Australian today, iron ore futures have rebounded to back over US$130 a tonne, up close to 3% from yesterday.

Iron ore, alongside many commodities, had taken a big dive over the start of the week over recession concerns coming out of the US. We also saw falls in oil and gold prices too.

Fortescue is almost a pure-play iron ore miner at this point. That means its fortunes tend to ride or die on the price of iron ore itself. Thus, any pricing movements in the iron market can have big consequences for Fortescue’s business. That’s why moves like the one we’ve just discussed can cause swings in the value of Fortescue shares.

At the current Fortescue share price, this ASX 200 miner has a market capitalisation of $59.24 billion, with a trailing dividend yield of 15.44%.

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

More reading

• Why are ASX 200 mining shares in the green today?
• Do Coles shares offer a dividend reinvestment plan?
• ASX 200 midday update: Magellan names its new CEO, Link shares crash
• Is the Telstra share price a safe haven buy right now?
• How is the AFIC share price performing with the ASX 200 volatility?

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

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

You may be wondering why the National Australia Bank Ltd. (ASX: NAB) share price is backtracking today.

At the time of writing, the major bank’s shares are down 4.25% to $30.43.

Shareholders lock in the NAB interim dividend

With the earning seasons wrapped up for some of the major banks, NAB is trading ex-dividend today.

This comes after the banking giant released its half-year scorecard on 5 May, reporting growth across key financial metrics.

The board opted to ramp up its upcoming interim dividend by 22% over the prior corresponding period.

Typically, one business day before the record date, the ex-dividend date, is when investors must have purchased shares. If the investor does not buy NAB shares before this date, the dividend will go to the seller.

When can shareholders expect to be paid?

For those eligible for NAB’s interim dividend, shareholders will receive a payment of 73 cents per share on 5 July. The dividend is fully franked at a corporate tax rate of 30%, which means investors will receive tax credits from this.

In addition, investors can elect for the dividend reinvestment plan (DRP) which will add a portion of shares to their portfolio instead. This will be based on a 10-day volume-weighted average price from 18 May to 31 May.

There is no DRP discount rate and the last election date for shareholders to opt in is this Friday.

NAB share price summary

Since the beginning of 2022, NAB shares have gained 5% on the back of positive investor sentiment. The S&P/ASX 200 Index (ASX: XJO) is also down around 5% over the same timeframe.

NAB shares reached a 52-week high of $33.75 last month, before pulling back in the following weeks.

Based on today’s price, NAB commands a market capitalisation of roughly $101.96 billion and has a trailing dividend yield of 4.02%.

The post The NAB share price is in reverse today. Here’s why appeared first on The Motley Fool Australia.

More reading

• What’s the outlook for ASX 200 bank shares amid rising interest rates?
• Looking to secure the latest NAB dividend. Here’s what you need to do
• Is the NAB share price a buy amid this volatility?
• Is it too late to buy big bank ASX shares?
• What’s the outlook for the NAB share price following the bank’s latest results?

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.

from The Motley Fool Australia https://ift.tt/8auhjE7

The Dicker Data Ltd (ASX: DDR) share price is pushing higher on Wednesday afternoon.

At the time of writing, the technology distributor’s shares are up 2.5% to $12.58.

Why is the Dicker Data share price pushing higher?

Investors have been bidding the Dicker Data share price higher following the release of the company’s first-quarter trading update just after lunch.

According to the release, for the three months ended 31 March, Dicker Data reported a 50.5% increase in revenue to $673.6 million and a 22.7% lift in profit before tax to $23.8 million.

Dicker Data’s growth was driven by a combination of organic growth and a full quarter contribution from the Exeed acquisition, which was not part of the business in the comparative period.

The release notes that Exeed contributed $90.3 million of revenue during the three months, meaning $135.6 million was organic. The latter was driven by increased demand for virtual capabilities and accelerated digital transformation of businesses across the ANZ market.

And while the company’s profits didn’t grow as quickly as its revenue due to margin pressures, management expects an improvement in the second half. This is expected to see Dicker Data’s gross margin lift from 8.6% in the first half to 9% for the full year.

Dicker Data also provided an update on its dividend plans for FY 2022. It intends to pay quarterly fully franked dividends of 13 cents per share this year, bringing its full-year dividend to 54 cents per share. This will be a 44% increase year on year.

Management commentary

Dicker Data’s Chairman and CEO, David Dicker, was rightfully very pleased with the company’s performance during the quarter. He commented:

The Company’s performance in Q1 was outstanding, with revenue growing by more than 50% and profit before tax growing at over 22% year on year. A result that is testament to the great people in our business. Our two recent acquisitions are almost fully integrated into the business and I’m confident that we have the foundations in place to continue delivering the growth our shareholders have come to expect.

Despite only moving into our new headquarters last year, more than doubling our warehouse capacity at the time, I’m pleased to report that we are already in the advanced planning stages for the expansion of the warehouse in Kurnell which will support the expected growth in the coming years.

The post Dicker Data share price charges higher following stellar Q1 growth appeared first on The Motley Fool Australia.

More reading

• Here’s why ASX 200 tech shares are having such a disastrous run on Friday
• 3 top ASX growth shares that experts say are buys

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

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

S&P/ASX 200 Index (ASX: XJO) mining shares are in the green in early afternoon trade.

While the ASX 200 is down 0.2%, the BHP Group Ltd (ASX: BHP) share price is up 0.4% to $45.22 per share.

Meanwhile, rival ASX 200 mining share Rio Tinto Limited (ASX: RIO) has gained 1.4% today while Fortescue Metals Group Limited (ASX: FMG) shares are up 0.5%.

Why are ASX 200 mining shares bucking the wider selling trend?

BHP, Rio Tinto and Fortescue all look to be receiving some tailwinds from a 2.8% boost in iron ore futures, which The Australian reports have lifted to US$130 per tonne.

This will come as welcome news to investors in the big miners, who’ve watched their share prices come under pressure as the iron ore price has trended sharply lower over the past month.

In early April, iron ore was fetching over US$160 per tonne.

The industrial metal has come under pressure on two fronts.

First, a hawkish US Federal Reserve has sent the US dollar soaring higher. With iron ore priced in US dollars on international markets, a rising dollar has sent the price lower, crimping the profit margins of ASX 200 mining shares.

Second, demand for iron ore from China – the top destination for Aussie iron ore – remains sluggish. That’s partly due to steel output limits put in place by the government. And likely partly due to a slowing Chinese economy as the nation places millions in lockdown to combat COVID-19 in its continuing zero-virus policy.

How have the mining giants been performing?

As you’d expect with the sharp decline in iron ore prices over the past month, all three of the ASX 200 mining shares we’ve covered above have slipped since 11 April.

The BHP share price is down 12.6%; the Rio Tinto share price is down 11.1%; and the Fortescue share price has fallen 9.3% over the month.

By comparison, the ASX 200 is down 6% during that same period.

The post Why are ASX 200 mining shares in the green today? appeared first on The Motley Fool Australia.

More reading

• Why are ASX 200 mining share prices slipping today?
• The Rio Tinto share price has dumped 8% in a week. Is it now cheap?
• The BHP share price is sliding 5% today. Is it time to dig in?
• Fortescue share price dives another 3%, down 12% in a week
• Could Fortescue Future Industries’ green hydrogen help Europe ditch Russian energy?

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

from The Motley Fool Australia https://ift.tt/QhP5Vol

Since debuting on the ASX under its own name and steam back in 2018, Coles Group Ltd (ASX: COL) wasted little time establishing its dividend credentials. For years now, Coles shares have paid out hefty dividends. This is a company that hasn’t yet missed a half-yearly dividend payment, and has grown its dividends from 57.5 cents per share in 2020 to 61 cents per share last year. On current pricing, Coles shares now have a dividend yield of 3.3%.

But do Coles shares offer a dividend reinvestment plan (DRP or DRIP) alongside these dividends? That’s what we’ll be checking out today.

So many ASX 200 blue-chip shares offer investors the choice of a DRP when receiving dividends. Normally, a dividend is paid out in cash to investors. But if a company offers a DRP, it means that investors have the option to either receive the dividends in cash, or instead receive the value of the dividend payment in the form of new shares. Many investors like to have this option, as it can easily set up a potent compounding effect.

But do Coles shares give investors this option?

Do Coles shares offer income investors a DRP?

Well, the answer is a resounding yes. Coles currently does operate a DRP for its dividend payments.

Here’s how Coles describes its DRP:

If you elect to participate in the DRP, you will be able to reinvest either all or part of your dividend payments into additional fully paid Coles shares in an easy and cost-effective way. No brokerage, commission or other transaction costs will be payable by you on shares acquired under the DRP.

This DRP has been in place since Coles’ first dividends were paid out in 2019. However, the company typically doesn’t offer a discount when investors elect the DRP and receive new shares in lieu of cash.

So Coles investors do have options when it comes to the dividends the company pays out. Something to keep in mind if an investor owns Coles shares.

At the current Coles share price, this ASX 200 blue-chip share has a market capitalisation of $24.77 billion.

The post Do Coles shares offer a dividend reinvestment plan? appeared first on The Motley Fool Australia.

More reading

• ASX 200 midday update: Magellan names its new CEO, Link shares crash
• Is the Telstra share price a safe haven buy right now?
• How is the AFIC share price performing with the ASX 200 volatility?
• How to deal with the current share market calamity
• 5 things to watch on the ASX 200 on Wednesday

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

from The Motley Fool Australia https://ift.tt/V6Y2MQi

Despite the All Ordinaries (ASX: XAO) being down today, the Airtasker Ltd (ASX: ART) share price is pushing higher.

This comes after the company provided an update regarding its capital raising and acquisition prior to market open.

The online marketplace company’s shares are swapping hands at 45 cents, up 1.12%.

For context, the broader ASX index is trading at 7,229.1 points, down 0.80% following the recent market downturn.

What did Airtasker announce?

Investors are bidding up the Airtasker share price following the company’s deferred shareholding dilution.

In its statement, Airtasker advised that it has received an enquiry from the Australian Competition & Consumer Commission (ACCC) in relation to the proposed $9.8 million acquisition of Oneflare.

Founded in 2012, Oneflare is an Australian online marketplace that connects businesses with customers. The company has facilitated over 2.8 million matches across 150 service categories for job requests to be serviced by professionals.

While the enquiries in relation were not mentioned in detail, Airtasker stated it was working closely with the ACCC.

In addition, management decided to delay the $6.25 million settlement of the equity placement announced on 4 May.

This inevitably puts the Oneflare acquisition currently on hold as discussions between Airtasker and the ACCC play out.

Furthermore, the $1.2 million share purchase plan tailored to retail investors has also been put on ice for now.

About the Airtasker share price

Over the past 12 months, the Airtasker share price has lost almost 60%, with year to date down 46%.

It’s worth noting that regardless of today’s rise, the company’s shares hit an all-time low of 43 cents yesterday.

Based on valuation grounds, Airtasker commands a market capitalisation of roughly $187.33 million.

The post Why is the Airtasker share price edging higher today? appeared first on The Motley Fool Australia.

More reading

• Airtasker share price dives 6% as trading resumes
• Analysts say these small cap ASX shares have big futures
• Airtasker share price on ice amid major acquisition news
• Best ASX shares to buy in May 2022
• Top brokers name 3 ASX shares to buy 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 recommended Airtasker Limited. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/w2f1NmQ

The Judo Capital Holdings Ltd (ASX: JDO) share price is charging higher today.

Judo shares closed yesterday at $1.58 and are currently trading for $1.67, up 5.6%.

The challenger bank listed in the ASX in November last year, with a focus on lending to small and medium sized enterprises (SMEs).

Here’s what’s piquing ASX investor interest today.

What did the bank report?

The Judo share price is gaining following two price-sensitive announcements released before market open this morning.

First, Judo updated the market on its loan book, as at 30 April. The bank reported a closing balance for gross loans and advances (GLAs) of $5.56 billion. That equates to lending growth of $220 million for April, up 4.1% from March.

Commenting on the result, Judo deputy CEO Chris Bayliss said, “We remain confident in achieving our prospectus forecast for GLA of $6.0 billion by 30 June 2022, underpinned by our current lending balance and our pipeline of approximately $1.1 billion.”

That rather bullish forecast could be helping drive the Judo share price higher today.

Judo share price lifts amid investor day presentation

Separately, the bank is holding its inaugural investor day in Sydney today.

Among the core results. The bank said it expects to achieve or beat all of its prospectus metrics for the 2022 financial year.

In the current environment of rising inflation and interest rate hikes, investors may also be bidding up the Judo share price on its report that it has “significant positive leverage” to rising interest rates.

Addressing the investor day presentation, Judo’s CEO and co-founder, Joseph Healy said:

We believe specialists beat generalists every time. Judo is a specialist SME bank which operates with risk management at its core…

Along with our lending growth, our team at Judo is also growing as we continue to attract talented bankers who want to be part of Judo as we scale towards becoming a world class SME business bank.

Bayliss added, “The outlook for ongoing cash rate increases provides a significant tailwind for our margins given our lending portfolio is largely floating-rate, while our funding costs are predominantly fixed.”

Judo share price snapshot

It’s been a rough year for the Judo share price. Despite today’s boost, shares in the ASX bank remain down 22.9% since 4 January. That compares to a year-to-date loss of 8.2% posted by the All Ordinaries Index (ASX: XAO).

The post Why the Judo share price is defying the ASX selloff to charge 6% higher today appeared first on The Motley Fool Australia.

More reading

• This ASX 300 share is down 22% in 2022, and the CEO just bagged another $1 million worth

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

from The Motley Fool Australia https://ift.tt/CWKL8YN

The Lynas Rare Earths Ltd (ASX: LYC) share price is back on form on Wednesday.

In afternoon trade, the rare earths producer’s shares are up 3.5% to $8.66.

Why is the Lynas share price charging higher?

Today’s gain by the Lynas share price appears to have been driven by a rebound in the materials sector after some recent weakness.

It isn’t just Lynas shares that are rising today. A number of battery materials and iron ore shares are rebounding with it.

For example, the Allkem Ltd (ASX: AKE) share price is up 2%, the Lake Resources N.L. (ASX: LKE) share price is up 2%, and the Rio Tinto Limited (ASX: RIO) share price is trading 1.5% higher.

Where next for Lynas’ shares?

While the recent weakness in the Lynas share price has been disappointing for investors, it could have created a buying opportunity.

That’s the view of the team at Macquarie. Last week, its analysts put an outperform rating and $12.80 price target on the company’s shares.

This suggests that Lynas’ shares could climb almost 50% from current levels over the next 12 months.

Macquarie has been impressed with Lynas’ production ramp up and believes it is well-placed for strong growth in FY 2023.

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

More reading

• The Lynas share price has plunged 6% today! What’s going on?
• If you’d bought $5,000 of Lynas shares 5 years ago, guess how much you’d have now
• The ASX 200 share ‘at the sweet spot of decarbonisation’: expert
• The Lynas share price has lost 16% in April, is it a buy?
• What’s going on with the Lynas share price today?

Motley Fool contributor James Mickleboro owns Allkem shares. 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 Macquarie Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/3jP29KL