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Shares in the perhaps lesser-known minerals explorer Belararox Ltd (ASX: BRX) are surging 44.37% higher today and now trade at $1.025.

The gains extend a busy period for the company, where its share price has spiked 47% in the past month.

Belararox is a mineral explorer focused on securing and developing resources to meet the surge in demand from the technology, battery and renewable energy markets, according to its website.

The company first listed back in January and since then its share price has skyrocketed from 21 cents to its current levels, securing large gains for early investors.

Its projects currently span to include the potential for zinc, copper, gold, silver, nickel and lead resources, per the company.

It trades on a fully-diluted market cap of $29.04 million at the time of writing and doesn’t pay a dividend.

What’s behind Belararox shares lately?

Investors piled into Belararox after it announced potentially new mapped targets at its Belara project last month.

The project is set to be an asset producing copper, lead, zinc, silver and gold for the company if and when all drilling and testing outcomes are finalised.

Additional findings support the potential for additional sulphide mineralisation at further sections along the project’s belly.

Following the announcement, there was an all out war between the bulls and the bears. After spiking hard to a high of $1.45, shares soon cooled off and returned to rest within the longer-term uptrend.

Investors weren’t as galvanised when the company followed up with another announcement on 30 March noting that a gravity survey had confirmed the results above.

In fact, in the days following, there’s been a correction in the Belararox share price. Nevertheless, the company is back in favour today and has printed a 44% gain.

Since listing earlier this year, the Belararox share price has soared 413% into the green, much to the delight of initial shareholders.

The post Heard of this ASX battery metals share? It’s skyrocketed 413% this year appeared first on The Motley Fool Australia.

More reading

• This ASX battery metals share has been taking investors on a wild ride of supercharged gains and falls. Here’s why

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.

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The Washington H Soul Pattinson & Co Ltd (ASX: SOL) share price has surged in the past three weeks.

Since 16 March, shares in the investment house have gained around 13%, making it one of the best performers across the sector.

For comparison, the S&P/ASX 200 Index (ASX: XJO) has increased by 5.2% across the same time frame.

At the time of writing, Soul Patts shares are swapping hands for $28.56, down 0.17%.

What’s driving the Soul Patts share price higher?

After hitting a 52-week low of $24.76 in mid-March, the Soul Patts share price has continued to climb.

It seems investors believed the company’s shares were trading at bargain prices back then.

As such, from 17 March to 29 March, Soul Patts shares registered nine consecutive trading days of gains.

To put that into perspective, its shares rose from $25.15 (at close of trade on 16 March) to $28.60 (at close of trade on 29 March).

Supporting the share price ascent, the company released its half-year results for the 2022 financial year on 24 March.

In summary, Soul Patts reported strong numbers despite its statutory net profit after tax (NPAT) recording a loss of $643 million.

The biggest win for shareholders came from the board’s decision to increase the interim dividend by 11% to 29 cents. This reflected one of the highest first-half dividends in the history of Soul Patts.

On the day the results were released, Soul Patts shares lifted 2.19% to $27.59, and 3.12% to $28.45 on the following day.

In addition, management hinted at a rosy outlook for the company regardless of the COVID-19 pandemic and the war in Ukraine.

The group noted it has ample firepower on its balance sheet to purchase attractive investments during market downturns.

The post Why has the Washington H. Soul Pattinson share price leapt 13% in 3 weeks? appeared first on The Motley Fool Australia.

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• Are these 2 ASX dividend shares top buys for income in April?
• Why APM, Firefinch, Rio Tinto, and Soul Patts shares are charging higher 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. owns and has recommended Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia owns and has recommended Washington H. Soul Pattinson and Company Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The S&P/ASX 200 Index (ASX: XJO) isn’t having the best day today. At the time of writing, the ASX 200 is down by 0.59% at just under 7,500 points.

That has naturally resulted in many ASX 200 shares also posting losses so far today. But no one seems to have told the Endeavour Group Ltd (ASX: EDV) share price.

Endeavour shares are currently up a healthy 1.33% at $7.59 each. What’s more, this company hit a new all-time high of $7.61 share soon after lunchtime.

Now an all-time high, in this case, isn’t as impressive as it might be for some other ASX shares. That’s because Endeavour has only been on the ASX since June of last year, following its spin-off out of Woolworths Group Ltd (ASX: WOW). But still, it’s a happy day for shareholders, to be sure.

Today’s gains put the Endeavour share price up 11.8% in 2022 and by 26% over the past 12 months. Since its first day of ASX trading, the company has given investors a return of just over 24%.

Why have Endeavour shares just hit a new record high?

So why are Endeavour shares powering ahead today? Well, it’s not entirely clear. There hasn’t been any recent news or announcements that easily explain this new record high.

However, investors may be flocking to this drinks company following some recent love from ASX brokers.

As my Fool colleague James covered last week, broker Goldman Sachs named Endeavour as a winner out of the recent federal budget. It even included the company on its conviction buy list, with a 12-month share price target of $8. That implies a further upside of almost 6% over the next 12 months.

Goldman is bullish on Endeavour over the company’s “consumer assets and depth of [customer] loyalty, as well as more advanced digital transformation”. It also reckons that Endeavour is a good defensive play due to its inflation-resistant business model and reliance on local supply chains.

So perhaps investors are taking Goldman at its word today.

At the current Endeavour share price, this ASX 200 consumer staples share has a market capitalisation of $13.59 billion, with a dividend yield of 3.3%.

The post A toast! The Endeavour share price just hit an all-time high 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 Magellan Financial Group Ltd (ASX: MFG) share price is currently down by 6.5%.

What’s happening to the Magellan share price?

The fund’s management business hasn’t released any announcements today. Looking at the ASX share market, the S&P/ASX 200 Index (ASX: XJO) is down by 0.51% at the time of writing.

As a funds management business, two of the leading influencers on the company’s funds under management (FUM) are market movements and fund flows.

Overnight, there was a decline in the global tech share names, including some of the biggest positions in the Magellan global equity portfolios.

For example, the Microsoft Corporation (NASDAQ: MSFT) share price fell 1.3%. The Alphabet Inc Class A (NASDAQ: GOOGL) share price dropped 1.7%.

In the last few months, the Magellan share price has also suffered as FUM inflows turned into outflows.

FUM declines

The latest fall of FUM that investors have seen was the update on 14 March 2022. The company said that as of 11 March 2022, it had FUM of approximately $69.1 billion. That compares to $93.5 billion on 31 January 2022.

Magellan explained that the decline in FUM comprised market movements (including foreign exchange and reflecting market volatility), net outflows and notifications of intention to redeem since the recent update on 25 February 2022.

Since 25 February 2022, Magellan has experienced net outflows of approximately $5 billion. That comprises $4.7 billion of net institutional outflows and retail net outflows of $300 million. Since 25 February 2022, Magellan has received notifications of intention to redeem $1 billion, which has been reflected in the above FUM figures.

Is the Magellan share price going to turn around?

Morgans, one of the brokers most optimistic about the fund manager, has a hold rating with a price target of $16.73. Despite increasing its profit expectations a little for the near term, the broker thinks Magellan will continue to see sizeable FUM exit the business.

One of the most negative brokers is Morgan Stanley, which has a price target of $12 on the business. It warns that more FUM loss will result in reduced profitability of the company because of the lost operating leverage.

The post Magellan share price sinks again, down 6% appeared first on The Motley Fool Australia.

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• A toast! The Endeavour share price just hit an all-time high
• Is Newcrest Mining considered a defensive ASX share?
• ASX 200 (ASX:XJO) midday update: Block and Zip sink, Paladin Energy raises $200m
• Hoping to pocket the ARB Corporation dividend? Read this
• The EML share price jumped 25% in March 2022. What happened?

Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. Motley Fool contributor Tristan Harrison owns Magellan Financial Group. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Alphabet (A shares) and Microsoft. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Alphabet (C shares). The Motley Fool Australia has recommended Alphabet (A shares) and Alphabet (C shares). 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 BHP Group Ltd (ASX: BHP) share price has soared 24% year to date but Macquarie analysts are tipping it could even go higher.

BHP shares are currently swapping hands at $51.28, a 1.29% fall. For perspective, the S&P/ASX 200 Index (ASX: XJO) has dropped 0.76% so far today.

Let’s check the outlook for BHP shares.

Could this share go even higher?

BHP shares could soar way beyond their current price, according to the team at Macquarie.

Analysts have placed an outperform rating on BHP with a $61 price target. That’s 19% more than the current share price.

Macquarie believes elevated iron ore and coal prices will underpin strong earnings, cash flow, and dividends in the coming years.

As my Foolish colleague James reported, analysts predict BHP could deliver bumper profits in the near term due to these high commodity prices. Especially given the quality and low costs of its operations across a range of commodities and geographies.

Further, Macquarie is predicting BHP could deliver generous dividends in the future. Analysts foresee a fully franked dividend of $5.22 per share in FY 2022 and about $3.61 in FY 2023.

However, my Foolish colleague Zach recently reported 52% of analysts are neutral on the BHP share price. Further, 32% of brokers rate it as a buy, while 16% of analysts suggest their clients sell BHP shares.

BHP share price snapshot

The BHP share price has jumped 12% in the past year, while it has climbed almost 3% in the past month.

For perspective, the benchmark S&P/ASX 200 Index (ASX: XJO) has returned 8% over the past year.

BHP has a market capitalisation of about $260 billion based on the current share price.

The post Why Macquarie says the BHP share price can gain another 19% appeared first on The Motley Fool Australia.

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• The BHP share price went up over 10% in March

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 Sayona Mining Ltd (ASX: SYA) share price is charging higher, up 8% at the time of writing.

Sayona shares opened this morning at 31 cents and are currently trading for 34 cents.

Investors are bidding up the ASX lithium and graphite explorer even as the All Ordinaries Index (ASX: XAO) slumps 0.8% while the S&P/ASX 200 Materials Index (ASX: XMJ) is down 1.6%.

So why is the Sayona share price outperforming?

Sayona share price up 155% in a month

Today’s rally is nothing new for Sayona shareholders.

With the intraday gains factored in, Sayona is up 155% since this time last month and an eye popping 715% over the past 12 months.

ASX investors are clearly interested, with almost 108 million shares traded today in 3,947 separate trades. That brings the value of Sayona shares traded so far today to more than $33.2 million, with more buyers than sellers driving up the Sayona share price close to its 4 April 10-year highs.

As the Motley Fool reported on 4 April, shares finished the day up 31% after “testing conducted by lithium-ion battery technology giant Novonix Ltd (ASX: NVX) confirmed the quality of the company’s spodumene product“.

The spodumene concentrate came from Sayona’s Authier Lithium Project in Canada. Sayona said the results showed its spodumene product performed as well as battery-grade lithium hydroxide.

With no fresh news from the company today, the Sayona share price looks to be enjoying continued strength from these results, along with recently upgraded resource estimates at its North American Lithium and Authier projects.

And that all comes as the world’s booming battery markets for electric vehicles and home storage is seeing lithium prices at historic levels.

The post How is the Sayona share price still soaring, even on a down day for the ASX? appeared first on The Motley Fool Australia.

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• Here’s why the Sayona (ASX:SYA) share price is surging 34% on Monday

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

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

Allkem Ltd (ASX: AKE)

According to a note out of Morgans, its analysts have retained their add rating and lifted their price target on this lithium miner’s shares to $16.65. Morgans has lifted its revenue assumptions to reflect Allkem’s higher than expected lithium price guidance for the current quarter. Outside this, the broker likes Allkem due to its geographic and product diversification. The latter includes spodumene concentrate, lithium carbonate, and (very soon) lithium hydroxide from Naraha. The Allkem share price is trading at $13.19 on Wednesday.

Mineral Resources Limited (ASX: MIN)

A note out of Citi reveals that its analysts have retained their buy rating and lifted their price target on this mining and mining services company’s shares to $66.00. This follows news that the company will increase production from the Wodgina and Mt Marion lithium spodumene mines in response to unprecedented global customer demand for lithium products. This has led to Citi upgrading its earnings forecasts accordingly. The Mineral Resources share price is fetching $60.75 today.

REA Group Limited (ASX: REA)

Analysts at Morgan Stanley have retained their overweight rating and $178.00 price target on this property listings company’s shares. This follows news that rival Domain Holdings Australia Ltd (ASX: DHG) is acquiring campaign management technology platform provider Realbase. Morgan Stanley doesn’t believe it will have an immediate impact on REA and notes that the company has a stake in a similar business, Realtair. The REA share price is trading at $131.31 this afternoon.

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

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Citigroup is an advertising partner of The Ascent, a Motley Fool company. Motley Fool contributor James Mickleboro owns Allkem Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended REA 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 AMP Ltd (ASX: AMP) share price is tracking higher on Wednesday and is now trading at $1.01 apiece, up 3.59%.

That’s the first time AMP has surpassed the $1 mark since February, having eclipsed and retreated from that level three times in the past six months.

The last time the company’s share price was substantially above $1 a share was way back in November 2021 but it has barely averaged that price over the last year.

In fact, AMP shares have averaged a closing price of $1.0693 during the last 12 months of trade, according to Bloomberg trade data.

So it appears the $1 level is a key watermark for the AMP share price.

The question is, can the AMP share price break through and set off towards its former highs again? To answer, let’s take a look at how things might be different now.

Structural changes

The company’s restructuring efforts are set to inflect positively on its profitability measures like return on equity (ROE), analysts say.

Bloomberg Intelligence’s Matt Ingram and Jack Baxter wrote last week:

AMP’s extensive restructuring, which should be complete by June 30, may lift 2021’s 9% ROE and 64-basis point margin, particularly given AMP Capital’s below group 40-basis point result in 2021.

AMP said the bank’s margin would fall to 1.5% this year from 2021’s 1.62%, but we believe 2023 may be better — AMP’s guided cash-rate rise from as early as June may lift returns.

It needs to fix the Australian wealth management unit which returned just 5.4% in 2021, but capital reallocation to a higher-return business may boost ROE.

Growth projections are underlined by structural changes in the industry too, according to Credit Suisse analysts.

“Inflows continue to improve across the industry underpinned by structural growth in the demand for advice and a return of consumer confidence to the advice industry,” they said in a note to clients this week.

That’s helped AMP’s accounts as outflows have dampened substantially over the last few weeks, the broker remarked.

Big dividends, buybacks on the cards?

AMP’s balance sheet has contracted slightly over the last two years. However, its net loans account has grown by almost 6% whilst ‘other’ assets have climbed by 46%.

As a result of its capital budgeting initiatives throughout the year, AMP said it had total surplus capital (above requirements) of $381 million as at 31 December 2021.

A closer inspection of the numbers reveals AMP could support a large capital return to shareholders in 2022, Ingram and Baxter said.

“AMP could distribute A$400-$600 million in 2022, lifting dividend yield above 14% and smashing consensus’ 1.5 Australian cent dividend on better profit and up to A$350 million surplus capital,” they noted.

In fact, the pair reckon AMP’s surplus could “support a 2022 dividend payout of 50% and A$250-$350 million buyback while staying above regulatory requirements”. That’s above the internal benchmark of $813 million or higher.

The duo expects around $940-$990 million of capital outflows to be offset by $910 of inflows in 2022 which, they say, “may result in excess capital of over $350 million”.

At 0.75x P/B [price to book ratio], we think AMP’s most sensible capital management option is to return excess capital via buybacks. Higher shareholder distribution could add at least 100 bps [basis points] to AMP’s ROE and lift the dividend yield to a peer-topping 14%, including buyback. AMP placed a hiatus on dividends until the demerger of its private markets unit, which is expected to be completed by June 30.

Financials are roaring back

While the struggle to contain inflation remains a challenge, ASX financials have come back hard in 2022.

The S&P/ASX 200 Financials Index (ASX: XFJ) has begun sailing north once again with heavy inflows into the sector propping up names like AMP.

The AMP share price is still down 19% in the past 12 months despite clawing back marginal gains this year to date. However, during the past month, it up more than 11%.

As the wider sector continues to post gains, the spillover appears to be lifting the AMP share price as well. That’s welcomed, as it’s been difficult to catch a bite for AMP shareholders.

As TMF reported last month, “The firm’s full-year result certainly wasn’t enough to keep investors on board… as the board decided to withhold paying a dividend.”

“And while shares are still rangebound, zooming out, they are in the red on basically all major time frames.”

The post AMP share price hits $1 mark for first time since February: analysis appeared first on The Motley Fool Australia.

More reading

• Own AMP shares? Here’s how this ASX company did in March
• AMP (ASX:AMP) share price lower on asset sale news
• The AMP (ASX:AMP) share price gained on Friday, what happened?
• If you’d sank $10,000 into AMP (ASX:AMP) shares 10 years ago, this is what you’d be left with today
• How is the AMP (ASX:AMP) share price performing against the financial sector lately?

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.

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The Magnis Energy Technologies Ltd (ASX: MNS) share price is suffering today despite the company’s silence.

Fortunately (or unfortunately), the vertically integrated lithium-ion battery company’s stock isn’t alone in the red on Wednesday.

At the time of writing, Magnis shares are trading for 49 cents, 5.77% lower than the previous close.

For context, the All Ordinaries Index (ASX: XAO) and the S&P/ASX 200 Index (ASX: XJO) are down 0.73% and 0.68% respectively.

Let’s take a look at what’s going on with the share prices of Magnis and its ASX-listed peers today.

What’s going on with Magnis shares on Wednesday?

The Magnis share price is struggling alongside its peers in the materials sector today.

Right now, the S&P/ASX 200 Materials Index (ASX: XMJ) is down 1.47%, with lithium explorer AVZ Minerals Ltd (ASX: AVZ) leading the fall.

Its share price has tumbled 6.1% on Wednesday.

The sector’s other major players include emerging battery metals producer Liontown Resources Limited (ASX: LTR), and explorer and developer of green metals Chalice Mining Ltd (ASX: CHN).

Their share prices have slipped 6% and 5.6%, respectively, at the time of writing.

Today’s dip sees the Magnis share price 14% lower than it was at the start of 2022. Though, it’s still 48% higher than it was this time last year.

The post Why is the Magnis share price tumbling 5% on Wednesday? appeared first on The Motley Fool Australia.

More reading

• Why is the Magnis (ASX:MNS) share price leaping 10% today?
• The Magnis (ASX:MNS) share price has lost 18% in a month, but there was some good news today

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has 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 IGO Ltd (ASX: IGO) share price is in the red on Wednesday amid reports the company could increase its takeover bid for nickel producer, Western Areas Ltd (ASX: WSA) to up to $4 per share.

The acquisition appeared certain in December, but the surging Western Areas share price, likely boosted by the rising nickel price, put a dampener on IGO’s hopes yesterday.

At the time of writing, the IGO share price is trading at $14.42, 0.96% lower than its previous close.

For context, the S&P/ASX 200 Index (ASX: XJO) has slipped 0.67% on Wednesday. Additionally, the company’s home sector, the S&P/ASX 200 Materials Index (ASX: XMJ), is down 1.62% right now.

Meanwhile, the Western Areas share price remains frozen. The freeze is understood to be due to an independent expert assessment of IGO’s takeover offer.

Let’s look at what’s going on with IGO’s stock on Wednesday.

Could IGO’s takeover bid be boosted to $4?

The IGO share price is in the red today amid rumours it’s prepared to up its takeover offer for Western Areas.

IGO’s offer to buy the nickel producer for $3.36 per share – valuing the company at $1,096 million – was recommended by the Western Areas board late last year.

However, the soaring price of nickel – driven by Russia’s invasion of Ukraine – has seemingly put the transaction in danger.

When the pair first announced IGO’s takeover offer, the Western Areas share price was trading around $3.24. As of Monday’s close, it was trading at $3.65 – 7.9% higher than the IGO offer price.

IGO commented on Western Area’s ongoing trading halt yesterday, saying:

IGO’s understanding of the primary reason for this trading halt is that the independent expert engaged by Western Areas has concluded … that the scheme is neither fair nor reasonable to Western Areas shareholders …

As previously stated, IGO’s valuation of Western Areas … [was] based on IGO’s long term view of the nickel market fundamentals and price. Despite recent volatility in the nickel price, IGO’s long term view on the nickel price has not materially changed.

After the market closed yesterday, The Australian reported the companies were back at the drawing board, with IGO refusing to push its offer price any higher than $4 per share.

IGO stated it was committed to chasing opportunities to add value for its shareholders. While assessing all options regarding the takeover, the company would remain disciplined.

IGO share price snapshot

Despite today’s slip, the IGO share price has been outperforming the broader market lately.

It is currently 21% higher than it was at the start of 2022 and has gained 122% since this time last year.

The post IGO share price slips amid latest takeover rumours appeared first on The Motley Fool Australia.

More reading

• Why A2 Milk, IGO, Lynas, and Sayona shares are dropping
• ASX 200 (ASX:XJO) midday update: IGO dealt blow, Block’s data breach, Xero jumps
• Why is the IGO (ASX:IGO) share price slipping today?
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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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