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The Propel Funeral Partners Ltd (ASX: PFP) share price is in reverse despite the S&P/ASX 200 Index(ASX: XJO) lifting today.

At the time of writing, the funeral operator’s shares are swapping hands for $4.63, down 2.53%.

In contrast, the benchmark index is trading at 7,521.5 points, up 0.58%.

Propel Funeral shares retreat

Investors appear uneased by the company’s latest announcement, sending the Propel Funeral share price into negative territory.

According to the release, two of Propel Funeral’s co-founders sold a parcel of their shares on 6 April.

In total, 1.25 million Propel Funeral shares were offloaded in an on-market trade for an average price of $4.80 per share.

Propel Funeral managing director, Albin Kurti disposed of 729,778 shares, with today’s net holding of around 10.16 million shares.

In addition, Propel Funeral executive director, Fraser Henderson offloaded 520,522 shares, with his holding roughly 7.24 million shares.

Management noted that the sale is the first between the pair since the company’s initial public offering (IPO) 4.5 years ago.

Both co-founders stated that the proceeds from the above selldown will be utilised for investment diversification and taxation obligations.

The transaction represents roughly 1.1% of Propel Funeral’s share registry, and 6.7% of the total number of shares held by the co-founders (prior to the selldown).

Nonetheless, both Mr Kurti and Mr Henderson remain Propel Funeral’s two largest non-institutional shareholders. Combined, they own about 14.8% of the company’s entire issued capital.

In addition, the co-founders noted that they have no plans to sell any more shares prior to the company’s FY22 full year results.

Propel Funeral share price snapshot

Despite today’s slight drop, the Propel Funeral share price is up 49% over the last 12 months.

Although the same can’t be said when looking at year to date, with the company’s shares up 3%.

Based on today’s price, Propel Funeral commands a market capitalisation of approximately $541.14 million, with 117.89 million shares on hand.

The post Propel Funeral share price falls following $6m co-founder share sale appeared first on The Motley Fool Australia.

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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 recommended Propel Funeral Partners Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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ASX resources shares of many shapes and stripes have been at the centre of ASX investors’ radars the last few months. Record commodity prices have boosted many mining shares. But investors are also expecting big things from the companies that have seen the resources they mine skyrocket in value. A case in point is the New Hope Corporation Limited (ASX: NHC) share price.

New Hope is one of the largest pure-play coal mining shares on the S&P/ASX 200 Index (ASX: XJO). It owns extensive coal assets, including large-scale open-cut mines in the Hunter Valley in New South Wales, as well as the Darling Downs in Queensland.

Like many other commodities, coal prices have shot through the roof in 2022 so far. That has boosted the prospects of New Hope, which has seen its own shares rise 75% in 2022 alone.

New Hope to pay out monster dividend next month

Last month, New Hope released its half-year results for the six months ending 31 January 2022. While reporting a 153% rise in revenues, and an extraordinary 582% boost to underlying earnings, New Hope also announced an interim dividend of 17 cents per share, fully franked. That was up a pleasing 325% on last year’s interim payout of 4 cents.

But in addition, New Hope also announced a special dividend. This is worth another 13 cents per share. And also comes fully franked. That means investors have a monster 30 cents per share dividend coming their way soon. How soon?

Well, these two New Hope dividends will be paid out next month on 5 May. But investors will have until this Thursday (14 April) to opt in for this shareholder payment. That’s the date that the shares trade ex-dividend for both the ordinary and special dividends. So any shareholder who buys New Hope shares on or after that date will miss out on this latest dividend.

These two payments alone would be worth a yield of 7.51% on current pricing, or a whopping 10.74% grossed-up with full franking. When this dividend gets paid, the New Hope share price will have a trailing 12-month yield of 9.27%. That’s 13.24% grossed-up.

The post Hoping to bag the monster New Hope dividend? Read this appeared first on The Motley Fool Australia.

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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.

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The Mineral Resources Ltd (ASX: MIN) share price is edging higher in morning trade, up 0.46%.

Mineral Resources shares closed on Friday at $61.30 and are currently trading for $61.58.

But that’s still 34.8% below the new price target issued by Macquarie Group Ltd (ASX: MQG).

Why does Macquarie have an outperform rating on MIN?

Mineral Resources, if you’re not familiar, is a mining services provider. The company has a strong focus on the iron ore and hard-rock lithium sectors in Western Australia.

And alongside soaring commodity prices, the Mineral Resources share price has soared 37% over the past month.

However, Macquarie believes there are more gains to come, with an outperform rating on the company.

According to the broker (as quoted by The Australian Financial Review):

The accelerated restart of Wodgina train 1&2 was ahead of our prior estimates. A combination of capital investment and product mix change increase Mt Marion production capacity to 900ktpa [kilo tonnes per annum]. Higher spodumene production from Mt Marion has translated to double-digit upgrades to our medium-term earnings forecasts for MIN.

Commenting on the company’s lithium business update last week, Mineral Resources managing director Chris Ellison said:

For some time now the world has seen extraordinary demand for lithium, driven by the strength of the electric vehicle market. This demand has resulted in a substantial increase in lithium prices, with pricing expected to remain strong for the rest of this decade…

With a world-class portfolio of highest-quality, long-life lithium assets in a Tier 1 mining jurisdiction, we are well positioned to capitalise on the continued growth of the global electric vehicle market.

Macquarie has an $83 target on the Mineral Resources share price.

Mineral Resources share price snapshot

2022 has seen some big ups and downs for Mineral Resources shareholders.

Despite the big 37% boost over the past month, the Mineral Resources share price is ‘only’ up 10% year-to-date. Though that does handily beat the 0.96% gain posted by the S&P/ASX 200 Index (ASX: XJO) so far this year.

Over the past 12 months, Mineral Resources shares are up 50%.

The post Macquarie tips 35% upside for Mineral Resources share price appeared first on The Motley Fool Australia.

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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 Bruce Jackson.

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The Carnaby Resources Ltd (ASX: CNB) share price is in the green on Monday following news of a $2 million acquisition.

The copper and gold exploration and development company is purchasing the mining licence for Mount Hope, located near its Lady Fanny and Nil Desperandum copper gold discoveries.

At the time of writing, the Carnaby Resources share price is $1.40, 2.56% higher than its previous close.

However, earlier today it hit a high of $1.48, representing an 8% gain.  

Let’s take a closer look at the news driving the Carnaby Resources share price higher today.

What’s going on with Carnaby Resources today?

The Carnaby Resources share price is taking off on news that the company’s expanding its Greater Duchess Copper Gold Project.

At 1 kilometre long and 500 metres wide, the Mount Hope mining lease covers around 0.5 square kilometres.

According to Carnaby Resources, Mount Hope looks to be hosted in the same iron oxide copper gold structural corridor as its Lady Fanny and Nil Desperandum discoveries.

Historically, it has produced 322,000 tonnes at 1.9% copper. Though, Carnaby Resources notes there’s a “remarkable” shortfall in publicly available or verifiable historical exploration drilling.

The company plans to start a first pass exploration drilling program following the mining lease’s settlement. That’s expected to be in the second or third quarter.

Carnaby Resources managing director, Rob Watkins commented on the acquisition, saying:

Mount Hope is a highly accretive acquisition and another potential corner stone in the rapidly growing Greater Duchess Copper Gold Project.

It is hard to believe that an exploration opportunity like this still exists in the Mt Isa region today.

Ultimately the planned first pass drilling at Mount Hope will tell the story, however the historical production from the shallow pits and the extensive copper mineralisation left in the pit walls and outcropping elsewhere within the mining lease is evidence enough as to its potential.

The company is acquiring the lease from the privately-owned Integrated Global Resources. It will be paying $1 million in cash and the other $1 million in scrip.

Carnaby Resources share price snapshot

The Carnaby Resources share price has been struggling in 2022.

It has slipped 10.8% year to date. Though, it’s still 483.3% higher than it was this time last year.

The post Why is the Carnaby Resources share price surging 8% on Monday? appeared first on The Motley Fool Australia.

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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.

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The 4DS Memory Ltd (ASX: 4DS) share price is rocketing on Monday. This comes after the memory storage company provided a technical update before market open.

At the time of writing, 4DS Memory shares are swapping hands for 8.6 cents, up 26.47%.

What did 4DS Memory announce?

Investors are buying up 4DS Memory shares this morning after the company revealed the technical achievements for the first quarter of 2022.

According to the release, 4DS Memory has, along with its partner Imec, been working diligently to address a number of technical issues. This relates to the partial failure of the second platform lot, which it announced to the ASX in August 2021.

As such, both companies undertook a memory stack etch mask change and further performed etch process optimisation.

The demonstration successfully eliminated the etch residues that caused electrical shorting of the memory devices in the second platform lot.

These positive results were crucial in allowing the third platform lot utilising Imec’s megabit memory platform to restart.

Subsequently, the mask change and process improvements have increased the likelihood that the third platform lot will be successfully processed.

4DS Memory noted that following the completed technical work, manufacturing of the third platform lot has now continued.

The lot is expected to reach the etch step in the next few weeks.

4DS expects to provide a further update to investors by the end of this month.

About the 4DS Memory share price

Since this time last year, 4DS Memory shares have fallen by 54%.

In 2022 alone, the company’s share price is down around 7.6%, despite today’s eutrophic gain.

4DS Memory presides a market capitalisation of roughly $98.61 million, with approximately 1.45 billion shares on its books.

The post Here’s why the 4DS Memory share price is rocketing 26% appeared first on The Motley Fool Australia.

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Motley Fool contributor Aaron Teboneras owns 4DSMEMORY FPO. 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.

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

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

2021 was the year of Ethereum (CRYPTO: ETH).

The proof-of-stake cryptocurrency stormed the charts, gaining 400% to become a legitimate challenger to Bitcoin‘s (CRYPTO: BTC) crypto supremacy.

The NFT (non-fungible token) craze was a big reason for its surge last year as Ethereum became the preferred blockchain for minting and selling NFTs and making smart contracts. The boom also demonstrated that Ethereum has more utility than Bitcoin. In fact, so far, Ethereum seems to be the most useful cryptocurrency.

However, 2022 has been a different story. Year to date, Ethereum is down 14%. NFTs seem to be fading from the limelight, and most major cryptocurrencies have fallen as well, with Bitcoin down 10%. Risk assets, in general, have had a rough year, with the S&P 500 down 6% as high inflation, rising interest rates, and the war in Ukraine have all driven a flight to safety. 

If you’ve missed out on Ethereum’s big gains, don’t fret. There are still under-the-radar opportunities in cryptocurrency, and one of the most compelling ones today is Terra (CRYPTO: LUNA). 

What is Terra?

Terra is the ninth-biggest cryptocurrency in the world by market cap and the only one in the top 10 that has gained in value this year, up 10% through April 8.

Terra is different from Bitcoin, whose supporters think of it as a form of digital gold, or Ethereum, which is best known for serving as currency to buy and sell NFTs, valuable in the metaverse but mostly frivolous in the real world.

Terra, on the other hand, may have more real-world utility than any other investable cryptocurrency today. That’s because Terra’s ecosystem is made up of stablecoins, whose value is tied to fiat currencies, and Luna, its native token. By offering stablecoins, Terra solves the biggest problem with Bitcoin: utility. Because Bitcoin’s value is so volatile, it’s not a good store of value or a medium of exchange, and it’s unrealistic for such a volatile currency to displace the dollar. 

The UST stablecoin, Terra’s dollar stablecoin, solves that problem, but the existence of Luna also makes Terra valuable to investors because its value moves and has gained roughly 10,000% since early 2021. Luna is used to stabilize the price of the Terra stablecoins. Terra miners burn or create Luna tokens to keep the price of stablecoins pegged to the currencies they track. Demand for Terra stablecoins increases the value of Luna to keep the price stable since tokens are burned as demand for UST goes up. Therefore, demand for Terra stablecoins lifts the value of Luna.

Terra is based in South Korea and has gained significant traction in that market. Early in its history, it attracted the Terra Alliance, a group of 15 large e-commerce companies in Asia that handles $25 billion in payments annually and has 45 million users. In other words, Terra has already built institutional buy-in for its payment platform in a way that no other cryptocurrency has, along with its combination of a stablecoin and its fluctuating native token.

A unique cryptocurrency asset

Terra has the ability to do what many cryptocurrencies aspire to do but can’t — be a functioning payment system and attract adoption by using Luna as a reward.

The coin appears to be picking up momentum. Not only is its value up more than 500%, bringing it to a market cap of $32 billion, but the token also recently passed Ethereum to become the second-most staked cryptocurrency behind Solana.

If you missed out on the Ethereum rally last year, take a closer look at Terra. Even as much of the cryptocurrency sector is struggling, Terra has the potential to explode by offering real utility. 

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

The post Missed out on Ethereum? Here’s what to consider buying instead appeared first on The Motley Fool Australia.

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Jeremy Bowman owns Ethereum. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Bitcoin, Ethereum, and Solana. The Motley Fool Australia owns and has recommended Bitcoin and Ethereum. 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.

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The ResApp Health Ltd (ASX: RAP) share price has exploded higher on Monday morning.

At the time of writing, the digital health company’s shares are up a whopping 28% to 11.5 cents.

Why is the ResApp share price rocketing higher?

The ResApp share price is rocketing higher this morning after the company revealed that it has received a takeover offer from healthcare giant Pfizer.

According to the release, ResApp has entered into a binding scheme implementation deed with Pfizer, under which it will be acquired by way of a scheme of arrangement for 11.5 cents per share in cash. This represents a total equity value of approximately $100 million.

Subject to the independent expert determining that the scheme is in the best interests of ResApp shareholders, and in the absence of a superior proposal, the company’s directors unanimously recommend that ResApp shareholders vote in favour of the scheme. They intend to vote shares under their control in favour of the proposed scheme.

This takeover approach comes less than three weeks after ResApp announced positive results for a new novel smartphone-based COVID-19 screening test. These results appear to have caught the eye of Pfizer, which has moved quickly to acquire the company.

ResApp’s CEO and Managing Director, Tony Keating, commented: “We are excited by the prospect of this acquisition by Pfizer, a leading biopharmaceutical company that shares our vision and belief that technology can help transform healthcare and improve patients’ lives.”

“The proposed acquisition recognises the years of dedicated work by the ResApp team to build ResApp into a leader in audio-based analysis of respiratory health. We believe that the material premium and certainty of an all-cash consideration is an attractive outcome for our shareholders,” Keating added.

ResApp has advised that shareholders needn’t take any action at the present time. A scheme meeting is expected in mid June.

Today’s gain means the ResApp share price is now up over 80% since this time last month.

The post ResApp share price rockets 28% on Pfizer takeover news appeared first on The Motley Fool Australia.

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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.

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The Latin Resources Ltd (ASX: LRS) share price is soaring on Monday morning on the back of more promising drilling results.

The lithium company’s shares surged 10.53% to 21 cents in early trade before retreating to 20.5 cents at the time of writing. For perspective, the S&P/ASX 200 Index (ASX: XJO) is up 0.58% so far today.

Let’s take a look at why this ASX lithium share is in the green.

Why is the Latin Resources share price rising?

Latin Resources reported “outstanding” results from two diamond drill holes at the Salinas Lithium Project in Brazil.

The company said the results show more high-grade lithium in pegmatites including a peak of two metres at 3.07% lithium oxide in drill hole SADD004. At the SADD003 site, drilling intersected a peak of 1.9m at 2.13% lithium oxide.

These results give the company confidence to scale up the drilling team to fast track mineral resource definition drilling.

Latin Resources also intersected more spodumene at drill hole SADD011 to the north of previous drilling at the site.

Commenting on the results, Latin Resources managing director Chris Gale said:

These new assay results from the latest two holes drilled in the South Target Area of the Salinas Lithium Project, are once again extremely pleasing.

We have now confirmed our initial observations that the logged lithium bearing pegmatites are increasing in thickness as we move south, while maintaining the very high-grades seen in the first two holes.

We have now confirmed spodumene bearing pegmatites over a continuous strike length approaching one kilometre.

The company expects to report more results within the next few weeks.

Latin Resources share price snapshot

The Latin Resources share price has soared 294% in the past year while rocketing 607% year to date.

In contrast, the S&P/ASX 200 Index (ASX: XJO) has returned about 7.5% in the past year.

Latin Resources has a market capitalisation of about $332 million based on its current share price.

The post Latin Resources share price surges 11% on ‘very positive’ lithium news appeared first on The Motley Fool Australia.

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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.

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The Lynas Rare Earths Ltd (ASX: LYC) share price has surged around 50% over the past six months. Could shares in the miner keep rising?

A rare earths miner, Lynas is the world’s second-largest producer and the only significant separated rare earths producer of scale outside China.

Lynas explains that rare earths are essential inputs to​ high-growth global manufacturing supply chains, including ‘digital age’ and green technologies such as electric vehicles and wind turbines.

Its products include neodymium and praseodymium (NdPr), lanthanum, cerium and mixed heavy rare earths.

What’s happened to the Lynas share price lately?

Lynas shares have soared in the first half of 2022 as the company saw a jump in revenue and net profit after tax (NPAT). In the FY22 first half, revenue increased from $202.5 million to $314.8 million and NPAT went up from $40.6 million to $156.9 million.

Lynas CEO and managing director Amanda Lacaze said the company had benefited from the “continued buoyancy of the market and strong customer demand for a sustainable supply of rare earths”.

In November 2021, the NdPr market price rose above US$100 per kilo for the first time since 2011.

The company said that its customers expected demand would “grow strongly” as FY22 continues. The company was positioned to meet accelerating demand through its ‘Lynas 2025’ growth projects.

This includes investment in its Mt Weld resource, constructing a Kalgoorlie rare earths processing facility and a Malaysian permanent disposal facility for water leach purification residue.

Could it keep rising?

Brokers are mixed on the Lynas share price.

On the positive side is Macquarie, which has a rating of ‘outperform’ on the rare earth ASX mining share.

The broker thought the HY22 result was good and noted that rare earth prices have jumped. This could help Lynas shares.

Macquarie’s price target on Lynas is $12.60, suggesting a possible rise of almost 30% over the next year.

But Ord Minnett has a different opinion on the miner. Its rating is ‘lighten’ and the Lynas share price target, for now, is $4.50. That implies a potential decline of approximately 50% due to expected higher spending and doubts about the longevity of high rare earth prices.

Lynas share price valuation

According to Macquarie, the Lynas share price is valued at 12x FY23’s estimated earnings.

Ord Minnett’s numbers show that the Lynas share price is valued at 23x FY23’s estimated earnings.

The post The Lynas share price has rocketed 50% in six months. Can it keep rising? appeared first on The Motley Fool Australia.

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

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The JB Hi-Fi Limited (ASX: JBH) share price is slumping amid the completion of the company’s off-market buyback.

Following strong demand, the buyback ­– worth $250 million – will be scaled back to only include shares tendered at a discount of at least 14%.

At the time of writing, the JB Hi-Fi share price is $51.15, 1.06% lower than its previous close.

For context, the S&P/ASX 200 Index (ASX: XJO) is currently up 0.15% while the electronics retailer’s sector – the S&P/ASX 200 Consumer Discretionary Index (ASX: XDJ) – has slipped 0.67%.

Let’s take a closer look at the non-price sensitive news released by JB Hi-Fi on Monday.

JB Hi-Fi completes off-market buyback

The JB Hi-Fi share price is in the red this morning. Its fall comes after the company announced the scaling back of its off-market buyback following strong demand.

The electronics retailer will repurchase 5.5 million of its shares back from investors – representing 4.8% of its issued shares.

The market price for the buyback was set at around $52.38 at Friday’s close. That means – at a 14% discount – JB Hi-Fi will pay $45.05 for each share bought through the offer.

All successful tenders will be scaled back. Involved shareholders will see 100 shares bought back through a priority allocation before an 88.5% scale back is applied.

As a result, successful shareholders will have 11.5% of the shares they tendered – beyond their priority allocation – bought back.

Though, shareholders who tendered their entire holding at a 14% discount and who would be left with 40 shares or fewer will have all their shares bought back.

JB Hi-Fi also stated the Australian Tax Office is expected to allow $41.87 of the buyback price to be treated as a fully-franked dividend.

The sale consideration of each share would, therefore, be $7.20 for capital gains tax purposes. That meets the shares’ tax market value of $49.07.

Cash from the sale of involved investors’ stock is expected to be sent out to shareholders on 20 April.

JB Hi-Fi share price snapshot

So far, 2022 has been good for the JB Hi-Fi share price.

It has gained 4.8% since the start of the year. Though, it’s fallen 1.9% over the last 12 months.

The post Why is the JB Hi-Fi share price having such a rough start to the week? appeared first on The Motley Fool Australia.

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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.

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