Tag: Motley Fool

The Coronado Global Resources Inc (ASX: CRN) share price is gaining momentum today following its quarterly report.

Ticking past midday, the Australian metallurgical coal producer’s shares are pushing 3.7% higher to $2.22. As a result, the company’s share price is now only 7% away from its recent 52-week high.

Let’s dive into the latest quarterly report from Coronado.

Coronado share price heats up on record quarter

Highlights for the period ending 31 March 2022 include:

• Record quarterly revenue of US$947 million, up 22.3% from the December quarter
• Group run-of-mine production of 6.7 million tonnes, increasing 5% from the prior quarter
• Saleable production of 4.2 million tonnes, up 3.5% from the prior quarter
• Record quarterly realised metallurgical coal price of US$267 per tonne
• Mining cost per tonne for the March quarter of US$76.3 per tonne
• Closing net cash position at the end of the quarter of US$257 million

What else happened during the quarter?

As the Coronado share price suggests today, it was a strong three-month period for the coal producer. The combination of record coal prices and a sustained production level helped Coronado achieve its highest revenue in a quarter to date.

According to the report, the Russia/Ukraine conflict provided a tailwind for the company. Disruptions to Russia’s coal supply have boosted demand across the board. In addition, steel production in China recovered swiftly during the quarter after the lifting of restrictions imposed during the Winter Olympics.

Another positive for the Coronado share price, the company is initiating a fixed dividend to shareholders in light of its strong financial position. This dividend is expected to be paid biannually, providing US 0.5 cents per CDI to investors.

What did management say?

Reminiscing on the past quarter, Coronado CEO Gerry Spindler wrote:

The first quarter of 2022 was a quarter marked by a series of records for Coronado. We achieved record safety results in our US operations, record Group revenues, record realised pricing and record liquidity.

In addition, Coronado completed the first quarter with higher ROM production, higher saleable production, and higher sales volumes than the prior quarter.

Spindler added:

Coronado was one of the first pure-play coal operators in the world to return to a net cash position following the impacts of COVID-19 and lower price cycle. Our balance sheet is strong, and we are delivering on our capital management plans as promised.

What’s next?

Today’s Coronado share price rally might not solely be a product of its past performance. Adding to the optimism, the company highlighted the positive future outlook for the coal market.

While coal prices have fallen from their mid-March highs, they have managed to hold steady at a level still twice as high as historical averages. Notably, Coronado is witnessing elevated interest from new European customers amid concerns Russia will cut its gas supply.

Coronado share price snapshot

Investors would be hard-pressed to find an ASX share that has performed better than the Coronado share price over the last year.

While the S&P/ASX 200 Index (ASX: XJO) has returned a mediocre 3.5%, the coal producer is up 270%. Once accounted for dividends, the total return figure goes north of 300%.

The post Coronado share price brings the energy amid the best quarter in its history appeared first on The Motley Fool Australia.

More reading

• ASX 200 midday update: Coronado has record quarter, Life360 and Northern Star sink
• These were the top 3 ASX energy shares of the March quarter
• Maximise ASX share gains or invest ethically? The SUPER dilemma
• ASX mining shares were the leaders last quarter. Here are the top performers
• The best ASX All Ordinaries shares of the March quarter unmasked

Motley Fool contributor Mitchell Lawler 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 Bruce Jackson.

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

The Santos Ltd (ASX: STO) share price is pushing higher on Wednesday thanks to rising oil prices.

In afternoon trade, the energy producer’s shares are up 1% to $7.88.

This means the Santos share price is up 19% since the start of the year.

Can the Santos share price keep rising?

The good news for investors is that one leading broker believes there’s still plenty of upside ahead for the Santos share price.

According to a note out of Morgans, its analysts have put an add rating and $10.00 price target on the company’s shares.

Based on the current Santos share price, this implies potential upside of almost 27% for investors over the next 12 months.

What did the broker say?

Morgans notes that the company has announced a US$250 million share buyback. While it is not overly sure about the decision, it points out that this appears to indicate that management believes the Santos share price could be cheap. It said:

“It is good to see STO prioritising shareholder returns, particularly during periods of elevated earnings. In particular linking returns to FCF strength while leaving plenty of capacity for management to flex distributions.

Although it is harder to see the value proposition of the on-market share buyback at current prices. Other than a brief spike in early 2020 (pre COVID), STO is trading at its highest share price since 2014. This increases risk around the assumption that the buyback adds value. History has taught us that buybacks typically struggle to add value when conducted at cycle highs.”

Nevertheless, the broker remains very positive on the investment opportunity here and believes its “growing earnings should ease any lingering market concerns around STO’s balance sheet.”

It has also recently stated that it expects “the resilience of STO’s growth profile and diversified earnings base [to] see it best placed to outperform against a backdrop of a broader sector recovery.”

The post Broker says Santos share price could storm 27% higher appeared first on The Motley Fool Australia.

More reading

• 5 things to watch on the ASX 200 on Wednesday
• 5 things to watch on the ASX 200 on Tuesday
• Top brokers name 3 ASX shares to buy next week
• Top brokers name 3 ASX shares to buy today
• Oil boom: Santos share price climbs following record quarter

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 Bruce Jackson.

from The Motley Fool Australia https://ift.tt/Nd1FrPX

Shares in City Chic Collective Ltd (ASX: CCX) are tracking higher on Wednesday following the release of its trading update for H2 FY22 to date.

This represents the 17 trading weeks from 27 December 2021 to 24 April 2022, per the company. City Chic is releasing the update ahead of the Goldman Sachs Emerging Leaders Conference (hosted today), and the Macquarie Australia Conference on 3 May 2022, where it will be presented at both events.

At the time of writing, the City Chic share price is trading 115 basis points higher at $2.63 apiece just after midday on Wednesday.

City Chic share price jumps on earnings momentum

Key highlights for the company this period, per its release were:

• Sales of $178 million, a 46% year on year (YoY) growth
• Robust earnings with $23.5 million underlying EBITDA and $14 million net profit after tax (NPAT)
• Second half to date (H2 FY22 to date) – strong total sales growth at 25% YoY
• USA total sales growth of 47%
• Evans performing at pre-acquisition levels
• Australian sales performing above last year, with online channels up 13%
• Global partner sales growth of 465%

What else happened this quarter for City Chic?

The company says it posted a solid 46% YoY growth in sales and printed $178 million during the period. Of this result, there was a 71% jump in global traffic growth and 64% growth in active customers from half-to-half.

After expenses and tax, City Chic saw earnings of $14 million resulting in a net profit margin of approximately 8%, whilst a little higher up the income statement it printed underlying EBITDA of $23.5 million, 1% up YoY.

The company also saw substantial growth in its Americas markets, observing flow of 34.3 million annually plus adding another 582,000 customers in the year. Similar trends were observed in Australia too.

City Chic mentioned that USA growth has widened to 47% in FY22 to date, whilst European, Middle East and Africa (EMEA) sales have jumped 69%.

It also says that global partnerships are currently growing, with sales growth up 465% in H2 FY to date – 27 December to 24 April.

Meanwhile, Australia & New Zealand sales have curled up by 3% in the same time, “against a strong [H2 FY21] and in a challenging market due to the continued impact of the COVID-19 Omicron variant in the first few months of the second half.”

What’s next for City Chic?

The company appears optimistic based on projections in its presentation today. It expects H2 FY22 EBITDA “to exceed 1H FY22 EBITDA, subject to ongoing consumer demand in the key trading months of May and June”.

City Chic mentioned it has also produced a formidable counter-attack to the global supply chain disruptions through its proactive management of inventory.

“We have the inventory ready, and in market, to drive growth in all regions, protecting demand in the balance of 2H and into Q1 FY23,” it remarked.

“Consistent with comments made at the 1H result, our inventory position will continue to build in [the second half].”

Net debt position, as at financial year end, is expected to be in the range of $6-12m, subject to demand and supply chain volatility. Post the Northern Hemisphere peak sales period, and as the supply chain challenges ease, we expect to release inventory and deliver strong positive cash flows in FY23.

City Chich share price snapshot

In the last 12 months, the City Chic share price has collapsed more than 42% and is now down 52% for the year to date. Across all major time frames, City Chic shares are down.

The post City Chic share price jumps on 25% sales lift appeared first on The Motley Fool Australia.

More reading

• Brokers: 2 beaten-up ASX shares to buy next month
• 2 ASX shares that were dogs last month but good to buy now: expert
• These were the worst performing ASX 200 shares last week
• 2 ASX shares with impressive global growth plans: experts
• Buy these ASX shares with significant upside: experts

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 Bruce Jackson.

from The Motley Fool Australia https://ift.tt/q8L1Mpx

The Dexus Property Group (ASX: DXS) share price is climbing on news the company is acquiring AMP Ltd (ASX: AMP)’s real estate and domestic infrastructure business.

The acquisition could cost the real estate investment company $1 billion.

After spending most of this morning in the red, the Dexus share price has recovered to gain 1.44%. Right now, the company’s stock is swapping hands for $10.94 apiece.

Meanwhile, the S&P/ASX 200 Index (ASX: XJO) is slumping 0.58% and the S&P/ASX 200 Real Estate Index (ASX: XRE) is up 0.48%.

Let’s take a closer look at the acquisition announced today.

About the potential $1b acquisition

The Dexus share price has shaken off its early tumble to trade higher following news it’s set to buy Collimate Capital’s real estate and domestic infrastructure equity business.

Collimate Capital was managing $21 billion of real estate assets and $10 billion of infrastructure assets at the end of financial year 2021. For context, Dexus had $45.3 billion of assets under management (AUM) as of 31 December.

Dexus expects to pay up to $1 billion through three separate expenses for the transaction.

First, it will provide AMP with a $250 million upfront cash payment for the business.

It could also be liable to pay AMP a $300 million earn-out agreement. AMP will receive the full earn-out if the company’s AUM is retained for nine months following the sale.

It’s worth noting that AMP is not expecting to receive the full value of the earn-out, instead predicting AUM will fall by around $3 billion.

Finally, Dexus has agreed to acquire co-investment stakes in the platform for approximately $450 million in cash. That expense is subject to discussions with investors, pre-emptive rights processes, and relevant consents.

Around $270 million of that $450 million is earmarked to buy a greater stake in the AMP Capital Wholesale Office Fund (AWOF).

As The Motley Fool Australia recently reported, the AWOF’s management is being challenged by Mirvac Group (ASX: MGR).

Dexus plans to retain Collimate’s “key people” following the takeover.

It noted that the investment aligned with its fund management business’s expansion and diversification strategy. It also expected to power growth through the combination of the two platforms.

Dexus’ previously given guidance won’t change due to the acquisition. That’s because it won’t be completed until the next financial year.

What did management say?

Dexus CEO Darren Steinberg commented on the news, saying:

I am excited to announce this opportunity which positions Dexus as a leading real asset manager, with new capabilities and an expanded product offering, underpinned by our best practice governance and risk management framework.

It delivers on our strategic objectives of being a real estate partner of choice and delivering resilient income streams, while enhancing our ability to leverage the key megatrends benefiting real assets …

Infrastructure is a logical next step for Dexus’s funds management business, underpinned by compelling sector fundamentals and a positive growth outlook.

Dexus share price snapshot

Today’s gains haven’t been enough to boost the Dexus share price back into the year-to-date green.

Right now, the company’s stock is 3% lower than it was at the start of the year. However, it has gained 10% since this time last year.

The post Dexus share price in the green after $1b AMP deal confirmed appeared first on The Motley Fool Australia.

More reading

• AMP share price sinks amid latest Collimate deal news
• ASX 200 midday update: AMP asset sale talks, Syrah rockets
• AMP share price on watch amid Collimate Capital sale talks with Dexus and ‘multiple’ parties
• E-commerce is booming. Which ASX shares have exposure to warehouses?

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

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

S&P/ASX 200 Index (ASX: XJO) mining shares are some of the standout performers today.

While the ASX 200 is down around 0.6% in early afternoon trade, the BHP Group Ltd (ASX: BHP) share price is up 1.62%.

Meanwhile, Fortescue Metals Group Ltd (ASX: FMG) is up 2.23% while Mineral Resources Ltd (ASX: MIN) has gained 1.54%.

So, why are the big miners doing the heavy lifting today?

Bargain hunting and resurgent iron ore

It looks like the three ASX 200 mining shares named above are predominantly benefiting from two aligned factors.

First, after falling 9.7% yesterday, iron ore prices gained 2.4% overnight to US$138.95 per tonne.

Both BHP and Fortescue earn a large portion of their revenue from iron ore, while mining services company Mineral Resources has a strong focus on miners digging up the industrial metal.

Second, and tied into yesterday’s sharp fall in iron ore prices, it looks like investors may be doing some bargain hunting following some big drops in the top miners during yesterday’s trading.

Yesterday the BHP share price closed down 5.8%, Fortescue shares lost 6.9%, and the Mineral Resources share price fell a painful 9.5%.

Atop the bargain hunting and bounce in iron ore prices, Mineral Resources could also be benefiting from some positive broker coverage out this morning.

Bell Potter reported that it is maintaining its buy rating on the ASX 200 mining share, with a $70.00 price target. That’s 27% above the current Mineral Resources share price.

The broker was also positive about Mineral Resource’s US$1 billion offering of senior unsecured notes, calling it “further confirmation of MIN’s commitment to the transformational portfolio of growth projects”.

How have these ASX 200 mining shares been tracking?

Two of the three big miners listed above have handily outperformed the benchmark this year.

While the ASX 200 has lost 4.3% since the opening bell on 4 January, Fortescue shares have gained 4.6% and the BHP share price has rocketed 11% higher.

Mineral Resources shares, however, have struggled, with the ASX 200 mining share losing around 2% year-to-date.

The post 3 ASX 200 mining shares defying today’s sell-off to surge higher appeared first on The Motley Fool Australia.

More reading

• Own the Vanguard Australian Shares High Yield ETF? Here’s what you’re invested in
• 5 things to watch on the ASX 200 on Wednesday
• Why Chalice Mining, EML Payments, Mineral Resources, and South32 shares are tumbling
• Here are the 3 most heavily traded ASX 200 shares on Tuesday
• Sinking iron ore price sends ASX 200 mining shares tumbling

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 Bruce Jackson.

from The Motley Fool Australia https://ift.tt/d7WpK8u

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.

Shares of Nvidia (NASDAQ: NVDA) continue to get clobbered. As of this writing, the stock is now down more than 40% from all-time highs reached in late 2021. Several worries are conspiring to bring down Nvidia, the semiconductor industry, and tech in general right now.

These include the Federal Reserve’s aggressive rate hike posturing, calls for a slowdown in consumer spending, and a possible reduction in demand for graphics processing units (GPUs) needed in cryptocurrency mining. 

Nvidia faced challenges like this just a few years ago. It overcame those issues then, but what about now?

Nvidia is a cyclical stock

All businesses are cyclical for one reason or another — meaning business ebbs and flows based on supply and demand and other economic factors. For Nvidia and chip stocks in general, the cyclicality tends to come from the pacing of hardware purchases. Every few years, consumer and business demand for computing hardware slows, and chip stocks fall. Later, as signs emerge that hardware purchasing might pick up pace again, chip stocks rally.

This is what happened to Nvidia in 2018. GPU sales fell (the crypto market crashed, the US-China trade war pressured demand for chips, the Fed was raising interest rates, too), and Nvidia’s stock tanked. But then it went on an epic tear starting in 2019 as a new generation of chips for video gaming, data centers, and artificial intelligence (AI) came out.

Data by YCharts.

Is the current environment a simple repeat of history? Probably not. Nvidia is a different company than it was four years ago. It’s more diversified now with other chips outside of its GPU bread-and-butter product. And though some of the themes dragging down the chip industry rhyme with the 2018 situation, the economy is also facing very different issues today.

If chip sale growth stumbles at some point later this year or next (Nvidia forecast 43% year-over-year revenue growth for the fiscal first quarter, which will be reported on May 25, there’s no guarantee it will return to the torrid pace of expansion it has enjoyed during the pandemic.

Plus, even after falling 40% in recent months, shares still trade for 60 times trailing 12-month free cash flow and 28 times one-year forward expected earnings. This is no cheap stock.

The case for Nvidia as a $1 trillion company

In spite of mounting worry of an economic slowdown and the fact Nvidia is already a giant among tech stocks, Nvidia’s diversification today could actually be a benefit in the next few years. More than a designer of semiconductors like many of its peers, this is a full-blown tech platform. Nvidia is designing hardware and software, that puts the power of AI into the hands of all industries — from healthcare to the automotive industry, and even other tech companies. 

These are powerful secular growth trends that could help propel Nvidia higher for many years to come. For what it’s worth, some analysts think Nvidia’s revenue will more than double to over $65 billion in five years (compared to $26.9 billion in revenue during the recently-completed fiscal year ended in January 2022). If Nvidia delivers on those lofty expectations, a $1 trillion valuation doesn’t seem out of the question (the company’s enterprise value sits at $489 billion as of this writing).  

Of course, if you’re the type of investor who wants to see a company “prove it” and only buys when a stock is a reasonable value, take a pass on Nvidia right now. But if you believe this tech giant will continue to sink its roots into the global economy with its AI platform in the years ahead, you don’t mind extreme bouts of volatility, and can make periodic purchases to add to your position (dollar-cost averaging), now looks like a great time to go shopping for some Nvidia shares.

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

The post Is Nvidia stock a buy after falling 40% from all-time highs? appeared first on The Motley Fool Australia.

More reading

• 3 ASX 200 mining shares defying today’s sell-off to surge higher
• Why aren’t ASX gold shares performing better in these uncertain times?
• Why is the Block share price slipping 6% today?
• Why is the Green Technology Metals share price on ice today?
• Here’s why the Woodside share price is beating the ASX 200 today

Nicholas Rossolillo and his clients own Nvidia. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Nvidia. The Motley Fool Australia has recommended Nvidia. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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

from The Motley Fool Australia https://ift.tt/9dsa2yi

Gold as an investment can be many things to many people. But the yellow metal’s most ardent enthusiasts will tell you that gold’s most valuable trait is its resilient nature.

Gold, and ASX gold shares by extension, are often described as inflation hedges, protection against uncertainty and even ‘real’ money.

These characteristics aren’t just confined to owning physical bullion, either. Investors often gravitate towards the companies that mine it, seeing as they benefit from gold’s underlying strengths, too.

So if gold, and ASX gold shares, are the ultimate safe-haven assets, why aren’t they performing better?

On paper, 2022 thus far looks to be a perfect year for rocketing gold prices. We have buckets of geopolitical instability, exemplified by the tragic war in Ukraine and ongoing tensions with China. We have economic uncertainty as central banks worldwide move to tighten up interest rates. And we have inflation at levels unseen for decades across many of the world’s advanced economies.

And yet many ASX gold shares have been muted in their performance over the year so far.

Take a large ASX 200 miner like Northern Star Resources Ltd (ASX: NST), for example. Since the start of the year, Northern Star shares have risen by 4.35%. Nothing to turn your nose up against. But arguably nothing to write home about either.

Other ASX gold shares have fared worse. Take Gold Road Resources Ltd (ASX: GOR). This miner has gone backwards by around 2.2% over 2022.

ASX expert: Patience with gold

So what’s going on with gold? Well, let’s see what one investing expert reckons. Chris Watling of Longview Economics recently penned an opinion on this matter at Livewire. Here’s some of what he said on gold right now:

There is currently plenty of confusion about the outlook for the gold price…

Theoretically, in [this] environment, gold should hold its purchasing power and perform well. Instead, the price has gone nowhere for the past two years (broadly speaking). It’s therefore not serving as an inflation hedge, nor an ‘alternative’ to fiat money.

Watling said safe-haven buying on the Russian invasion was “short-lived and, instead of a breakout above the 2020 high, the price so far looks like it’s made a ‘double top…” He added:

We would argue, though, that gold has been remarkably resilient… while there’s strong evidence that gold is an inflation hedge over long periods of time, short-term price direction is determined by other factors…

Our central view is that it’s the latter, i.e. real yields, Fed rate expectations, and the dollar are likely to ‘top out’ and move lower in the near term (over the next few months). If that’s correct, then recent headwinds for the gold price should become tailwinds, with gold likely to break above its key resistance level (i.e. the ‘double top’ high of $2,077/oz).

So that’s how one investing expert is viewing gold right now. The precious metal has many advocates as well as detractors. But gold’s allure will no doubt continue to attract the attention of some investors.

The post Why aren’t ASX gold shares performing better in these uncertain times? appeared first on The Motley Fool Australia.

More reading

• ASX 200 midday update: Coronado has record quarter, Life360 and Northern Star sink
• Northern Star share price tumbles on guidance update
• 5 things to watch on the ASX 200 on Wednesday
• 5 things to watch on the ASX 200 on Wednesday
• What’s boosting the Northern Star share price on Tuesday?

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 Bruce Jackson.

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

The Block Inc CDI (ASX: SQ2) share price is plunging today after a broker downgrade on the company’s United States listing.

Block shares are currently trading at $139.14, a 6.53% fall. For perspective, the S&P/ASX 200 Index (ASX: XJO) is 0.72% in the red at the time of writing.

Let’s take a look at what could be weighing on the Block share price today.

Broker downgrade

Block’s ASX shares are following the pattern of the company’s New York Stock Exchange (NYSE)-listed shares in US markets.

Susquehanna analyst James Friedman downgraded the target price of Block Inc (NYSE: SQ) from $240 to $140 – a 42% decrease. Though, Friedman maintained a positive rating on Block’s US listing. Block fell 6.43% to $100.47 in the US on Tuesday.

Further to this, Credit Suisse analyst Timothy Chiodo dropped the price target on the US listing from $190 to $180 ahead of the company’s quarterly results. Credit Suisse has maintained an outperform rating on the company’s shares.

Block is not the only buy now, pay later (BNPL) share slipping on the ASX today. Zip Co Ltd (ASX: ZIP) shares are down 5.61%, while Beforepay Group Ltd (ASX: B4P) is 13.13% in the red. However, Openpay Group Ltd (ASX: OPY) is climbing 1.61%.

In recent news, Block CEO and chair Jack Dorsey changed his title from CEO, president and chairperson to “Block Head and Chairperson”.

Dorsey is also the co-founder of Twitter, which Elon Musk has just taken over in a $60 billion deal.

The market is expecting Block to report its earnings in early May.

Block share price snapshot

The Block share price has fallen 21% on the ASX year to date, and it has dropped 21.8% in the past month alone. Block listed on the ASX as SQ2 on 1 February after taking over Afterpay.

For comparison, the ASX 200 has slid nearly 3% year to date.

Block has a market capitalisation of about $6.2 billion.

The post Why is the Block share price slipping 6% today? appeared first on The Motley Fool Australia.

More reading

• 3 beaten-up ASX All Ordinaries shares that surged higher today
• Own ASX BNPL shares? These were the best performers of the March quarter
• Block share price in the red as Afterpay loss balloons 336%
• Why Block, IGO, Navigator Global, and Platinum shares are dropping
• Why are ASX 200 tech shares having such a dire day?

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Block, Inc. and ZIPCOLTD FPO. The Motley Fool Australia owns and has recommended Block, Inc. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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

The Green Technology Metals Ltd (ASX: GT1) share price won’t be going anywhere on Wednesday.

This comes as the company requested that its shares be placed in a trading halt.

At the time of writing, the Canada-based lithium explorer’s shares are frozen at $1.155 apiece.

Why is the Green Technology Metals share price halted?

Prior to the market opening, management requested the Green Technology Metals share price be halted while it prepares an announcement.

According to the release, the company is planning to make an announcement regarding a cornerstone investment and associated capital raise.

Green Technology Metals requested that the trading halt remains in place until Friday 29 April or following the release of the announcement, whichever comes first.

More on Green Technology Metals

Green Technology Metals is a North American-focussed lithium exploration and development business.

Located on highly-prospective Archean Greenstone tenure in northwest Ontario, Canada, the company has several lithium projects. They include high-grade, hard rock spodumene assets (Seymour, Root, and Wisa) and lithium exploration claims (Allison and Solstice).

Most notably, the company’s flagship Seymour Lithium project has an existing mineral resource estimate of 4.8 Mt @ 1.25% Li2O.

Earlier this month, management announced it recently intercepted high-grade lithium oxide from the North Aubry deposit at Seymour.

While the maiden drilling program has since been completed, the company is currently conducting both phase two (Central Aubry zone) and phase three (Pye prospect) drilling.

About the Green Technology Metals share price

Since listing in November 2021, the Green Technology Metals share price has surged by more than 360%.

In 2022, its shares are up 122% which has been supported by positive investor sentiment in the lithium sector.

Based on valuation grounds, the company has a market capitalisation of roughly $122.43 million, with 106 million shares outstanding.

The post Why is the Green Technology Metals share price on ice today? appeared first on The Motley Fool Australia.

More reading

• Guess which ASX lithium share has leapt 30% in a month to trade at all-time highs?

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 Bruce Jackson.

from The Motley Fool Australia https://ift.tt/nQaY73V

The Woodside Petroleum Ltd (ASX: WPL) share price is higher today, now trading around 1.2% in the green.

At the time of writing, Woodside shares are $30.92 apiece. That’s down from their intraday high of $31.31 a share but up from the previous close of $30.60 a share on Tuesday.

By contrast, the S&P/ASX 200 Index (ASX: XJO) is down around 0.7%.

What’s propelling the Woodside share price?

Energy markets have been buoyant this year amid an almost two-year-long commodity boom that’s sent inflationary vibes around the globe.

Brent Crude oil has spiked around 37% since the beginning of the year and is up almost 59% in the last 12 months. It now trades at US$106 per barrel, off its high of US$121 per barrel in February.

Meanwhile, natural gas futures contracts have surged across the board these last 12 months. Each of UK Gas, TTF (Netherlands) Gas, and US Natural Gas futures have soared to triple-digit percentage gains at the time of writing.

TTF Gas futures are up 382% on a yearly basis and now trade at 103 Euros/MWh, for instance. They have spiked a further 43% this year after trading as much as 200% higher in that time.

As such, global energy markets continue to rally in 2022, putting players like Woodside front and centre on the ASX. And while momentum has softened in April, it doesn’t appear to have slowed too much for Woodside.

The company is outpacing the S&P/ASX 200 Utilities Index (ASX: XUJ) and the S&P/ASX 300 Metals & Mining Index (ASX: XMM), both of which are leading sectors today.

In further news, Woodside also released its quarterly update yesterday. Judging from its results, it was a mixed quarter for the oil and gas giant.

Woodside’s revenue for the period was 17% lower than that of the December quarter. Though, it was more than double that of the prior comparable period.

The company specified that it saw a slowdown in revenue, as trading activity also slowed last quarter.

Woodside also reported it continues to push ahead with its merger with BHP Group Ltd (ASX: BHP) and that it settled the divestment of its 49% interest in the Pluto 2 venture.

Woodside share price snapshot

In the last 12 months, the Woodside share price has spiked 35% and is now up around 41% this year to date.

The company has a market capitalisation of $30.4 billion at its current share price.

The post Here’s why the Woodside share price is beating the ASX 200 today appeared first on The Motley Fool Australia.

More reading

• Own the Vanguard Australian Shares High Yield ETF? Here’s what you’re invested in
• Own ASX 200 energy shares? Here’s why Morgan Stanley says the oil price is set to surge
• Woodside share price plunges 6% following up-and-down quarter
• 5 things to watch on the ASX 200 on Friday
• What’s the outlook for the Woodside share price this quarter?

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 Bruce Jackson.

from The Motley Fool Australia https://ift.tt/654Ck8s