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The Mineral Resources Limited (ASX: MIN) share price is powering ahead on Tuesday following a positive update from the company.

At the time of writing, the mining services company’s shares are fetching for $59.64, up 5.63%.

What did Mineral Resources announce?

Investors are snapping up Mineral Resources shares after the company provided a business update on its lithium portfolio.

In its release, Mineral Resources advised that due to unprecedented demand for lithium products, it will ramp up production. This follows a mutual agreement with its joint venture partners to increase output from the Wodgina and Mt Marion spodumene mines in Western Australia.

As such, Mineral Resources and NYSE-listed Albemarle Corporation will accelerate the resumption of production from Train 2 at Wodgina.

First spodumene concentrate from this train is expected sometime in July this year.

In addition, Mineral Resources is on track to recommence operations at Train 1, with first spodumene concentrate expected next month. Previously, production from this train was forecast to be in the third quarter of 2022.

Each train has a nameplate capacity of 250,000 dry metric tonnes of 6% product.

Both companies will also discuss timings for starting up Train 3 at the end of 2022, and possible construction for train 4. The latter depends on the future state of the global lithium market.

Moving across to Mt Marion, Mineral Resources and its 50/50 joint venture partner Jiangxi Ganfeng Lithium have decided to upgrade the mine’s facilities.

Once completed, this is expected to immediately increase Mt Marion’s spodumene concentrate production capacity to 600,000 tonnes per annum from this month.

A second stage of expansion could boost capacity to 900,000 tonnes per annum by the end of 2022.

The equivalent number of tonnes will be at a grade of 6%.

Capital expenditure for both stages is expected to be less than $120 million.

What did management say?

Mineral Resources managing director Chris Ellison commented:

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.

Mineral Resources share price snapshot

Adding today’s gains, the Mineral Resources share price has surged by more than 54% for investors in the last 12 months

On valuation grounds, Mineral Resources presides a market capitalisation of roughly $11.2 billion, with approximately 188.85 million shares outstanding.

The post Mineral Resources share price leaps on ‘unprecedented’ lithium demand update appeared first on The Motley Fool Australia.

More reading

• 2 lithium ASX shares to buy in April 2022: experts
• These were the best performers on the ASX 200 last week
• The US is backing Aussie critical minerals projects, and these ASX mining shares could be set to reap the rewards
• What’s driving the Mineral Resources (ASX:MIN) share price higher today?
• Buying ASX shares to cash in on the EV and battery metals craze? Read this

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.

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Yesterday we looked at three ASX shares brokers have given buy ratings to this week.

Unfortunately, not all shares are in favour with brokers right now. Three that have just been given sell ratings are listed below. Here’s why these brokers are bearish on these ASX shares:

A2 Milk Company Ltd (ASX: A2M)

According to a note out of Citi, its analysts have downgraded this struggling infant formula company’s shares to a sell rating and slashed the price target on them by almost a third to $4.80. Citi made the move in response to COVID lockdowns impacting Chinese ports and weak pricing on Chinese ecommerce platforms. In addition, the broker has recently brought up concerns over delays to A2 Milk’s China label registration renewal. It feels if this renewal is denied it could damage its brand, as well as restrict it from selling in Chinese mother and baby stores. The A2 Milk share price is trading at $5.10 today.

Reliance Worldwide Corporation Ltd (ASX: RWC)

Another note out of Citi reveals that it has commenced coverage on this plumbing parts company’s shares with a sell rating and $4.00 price target. While Citi is positive on the long term opportunity in the US market, it believes Reliance is facing some short term issues which pose downside risk to current consensus earnings. The Reliance share price is fetching $4.22 on Tuesday afternoon.

Sandfire Resources Ltd (ASX: SFR)

Analysts at Ord Minnett have retained their sell rating and $5.00 price target on this copper miner’s shares. According to the note, the broker has bumped its copper price forecasts higher due to the Russia-Ukraine conflict. However, while this is a positive for Sandfire, it isn’t enough for a change of rating. The broker continues to see the company’s shares as expensive at the current level. The Sandfire share price is trading at $5.78 today.

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

More reading

• Why A2 Milk, IGO, Lynas, and Sayona shares are dropping
• What happened to the A2 Milk share price in March?
• Could the A2 Milk share price be in for a better month in April?
• What was the highest ever A2 Milk (ASX:A2M) share price?
• Why A2 Milk, Atlas Arteria, Block, and Boral shares are tumbling today

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. owns and has recommended Reliance Worldwide Corporation Limited. The Motley Fool Australia has recommended A2 Milk and Reliance Worldwide Corporation 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 last 30 days have been brilliant for the share price of ASX rare earths explorer, Arafura Resources Limited (ASX: ARU).  

It has gained 121% in that time, helped along by a significant grant and, possibly, its inclusion in the All Ordinaries Index (ASX: XAO).

At the time of writing, the Arafura Resources share price is 43 cents, 5.56% lower than its previous close.

However, earlier today it was trading at 50 cents – a new 52-week high and representative of an 11% gain.

For context, the All Ords and the S&P/ASX 200 Index (ASX: XJO) are both up around 0.6% right now.

Let’s take a look at what’s been boosting the Arafura Resources share price.

What’s driving this ASX rare earths share higher?

The Arafura share price has been taking off lately. In fact, it’s only ended five sessions of the last month in the red.

Making its strong performance even more interesting, the company has only released one price-sensitive announcement in that time.

On 16 March, it announced it had been granted $30 million from the Australian Federal Government.

The funding was awarded under the government’s Modern Manufacturing Initiative and will be put towards building a $90.8 million rare earths separation plant at the company’s Nolans Project in the Northern Territory.

The initiative is part of a roadmap to develop Australia as a regional resources, technology, and critical minerals processing hub.

The plant will be the first of its kind in Australia and only the second to exist outside China.

Arafura Resources managing director Gavin Lockyer said the recognition of the plant’s significance in Australia’s future critical minerals processing abilities was “an exciting milestone” for the company.

And it’s not the only ASX-listed rare earths producer to be recognised by the government lately.

Yesterday, Iluka Resources Limited (ASX: ILU) made a final investment decision in favour of its Eneabba rare earths refinery.

The refinery was given governmental support through a risk-sharing arrangement, including a non-recourse loan.

Also potentially boosting the Arafura Resources share price lately is the company’s recent inclusion in the All Ords. It moved into its new home on the benchmark index on 21 March.

As The Motley Fool Australia previously reported, that meant funds tracking the index needed to get a hold of Arafura Resources’ stock prior to its inclusion.

It also opened up the company to fund managers restricted to trading within the index.

Arafura Resources share price snapshot

Right now, the Arafura share price is 85% higher than it was at the start of 2022.

It has also gained 150% since this time last year.

The post Guess which ASX rare earths share has rocketed more than 120% in a month appeared first on The Motley Fool Australia.

More reading

• ‘It’s where all the real value-add is’: Why has this ASX rare earths share soared 79% in a month?
• 3 ASX All Ords shares smashing 52-week highs today
• Why Arafura, Block, Magellan, and Qantas shares are storming higher
• Cash to splash: Why the Arafura Resources (ASX:ARU) share price is leaping 23% today
• Why is the Arafura Resources (ASX:ARU) share price leaping 8% 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 S&P/ASX 200 Index (ASX: XJO) is having a pretty robust day so far this Tuesday. At the time of writing, the ASX 200 is up a healthy 0.58%. But that’s nothing compared to the stellar day the Origin Energy Ltd (ASX: ORG) share price is currently enjoying.

Origin shares are presently up a pleasing 3.03% to $6.625 a share. Yesterday’s closing price was $6.43. But that’s not all. Earlier this morning, Origin shares rose as high as $6.65. That was a new 52-week high for Origin. It’s also a new two year high for the energy company. Yes, Origin hasn’t traded at these levels since way back in March 2020, just before the COVID-induced share market crash we saw that year.

Today’s move caps off what has been a very pleasant 12 months for Origin Energy. The company is now up almost 43% over the past year, as well as being up more than 23% in 2022 alone.

But, in saying that, longer-term shareholders could still well be in the red, even after these encouraging gains. Origin shares are still almost 25% below their immediate pre-COVID levels of close to $9 a share. And this company’s all-time high of more than $15 a share that we saw way back in 2010 is something of a pipedream today.

Yet, even so, we can’t deny it has been a very lucrative 12 months for this ASX 200 blue chip.

So what is behind Origin’s more recent successes?

Origin Energy share price soars amid share buybacks, energy prices

Well, there are a couple of possible catalysts. Firstly, energy prices remain significantly elevated, particularly oil, gas, and coal. This is a major tailwind for Origin.

Then there is the matter of the company’s share buybacks. As my Fool colleague Brooke covered late last month, Origin has been executing its $250 million share buyback program. Just this morning, the company told investors that it had bought and retired more than 710,000 of its own shares on the markets yesterday. Share buybacks increase returns for existing shareholders.

So it’s likely that a combination of these factors has resulted in the new 52-week high for the Origin shares that we see today. No doubt shareholders will be pleased.

At the current Origin Energy share price, this ASX 200 blue chip has a market capitalisation of $11.66 billion, with a dividend yield of 4%.

The post High voltage! Origin (ASX:ORG) share price up 3% to new 52-week high appeared first on The Motley Fool Australia.

More reading

• Here’s why ASX 200 shares still have ‘a pretty good growth outlook’
• ASX 200 (ASX:XJO) midday update: IGO dealt blow, Block’s data breach, Xero jumps
• These were the 5 best performing ASX hydrogen shares of the March quarter
• 5 things to watch on the ASX 200 on Tuesday
• Here are the 3 most heavily traded ASX 200 shares on Monday

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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Shares in Melbana Energy Ltd (ASX: MAY) are edging lower today and now trade 3% in the red at 14 cents apiece.

The oil and gas explorer has jumped more than 52% in the past month of trade as energy shares ride the wave of geopolitical tensions that are sending commodity markets into overdrive.

Since February 1 2022, it has exploded more than 508% to the time of writing as investors continue driving up the price on enormous volume today.

What’s up with the Melbana Energy share price?

A series of positive catalysts have spiked the needle for Melbana over the last couple of months.

Melbana shares spiked hard in early February after the company announced an important update at its Alameda-1 exploration well in its Block 9 contract area onshore Cuba.

Further gains arrived after the National Offshore Petroleum Titles Administrator (NOPTA) awarded the company a petroleum exploration permit off the coast of WA.

Returns were extended in March when Melbana announced it intersected oil at its site in Cuba. This couldn’t have come at a more perfect time with Brent Crude setting record highs at the time.

At the time, Melbana Energy executive chair Andrew Purcell said the well “continues to have plenty to say to us and we’re enjoying hearing it”.

Aside from that, oil markets have continued to surge in 2022, with Brent Crude – the world’s oil pricing benchmark – heading back towards previous highs at US$108 per barrel.

In the last 12 months, the Melbana share price has gained 466% and has exploded 536% this year to date. The bulk of the gains has been achieved in the last 2 months in both time frames.

The post Why has the Melbana Energy share price exploded 52% in a month? appeared first on The Motley Fool Australia.

More reading

• Why Beach, Melbana, St Barbara, and Tietto shares are dropping
• ‘Plenty to say’ as Melbana Energy (ASX:MAY) races another 13% higher
• This ASX energy share is combatting its sector’s sell-off to hit 9-year highs

The author Zach Bristow has no positions 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 Flight Centre Travel Group Ltd (ASX: FLT) share price is having a good day today.

The travel company’s shares are currently swapping hands at $20.06, a 3.46% gain.

Let’s take a look at what is happening at Flight Centre.

What’s going on with Flight Centre?

Flight Centre is not the only ASX travel share in the green today. The Webjet Limited (ASX: WEB) share price is up 1.36%, the Helloworld Travel Ltd (ASX: HLO) share price is leaping 2.52%, while Corporate Travel Management Ltd (ASX: CTD) shares are climbing 2.82%.

However, it’s not such a good day for the Qantas Airways Limited (ASX: QAN) share price, which is currently down 0.29% after soaring in early trade.

Flight Centre Corporate revealed on Monday 1,300 businesses have resumed travel since domestic and international borders opened in Australia.

The company said 79% of pre-COVID business travellers are flying again, with 6,500 customers now flying with Flight Centre across the company’s corporate divisions.

Managing director Australia James Kavanagh said:

There’s no doubt confidence has rapidly returned in the corporate travel world since the reopening of domestic and international borders as business travellers and organisations shed the fear of more lockdowns and restrictions being imposed.

In other news today, Queensland has announced it will ease Covid-19 restrictions for theme parks and museums along with pubs, cafes and other venues. From April 14, a COVID-19 vaccine certificate will not be required to enter those venues.

Flight Centre share price snapshot

The Flight Centre share price has soared 12% in the last year, while it has taken off nearly 14% this year to date.

For perspective, the S&P/ASX 200 Index (ASX: XJO) index has returned nearly 11% over the past year.

In the past month, Flight Centre shares have jumped by more than 12%, while they have climbed more than 4% in the past week.

The company has a market capitalisation of about $3.8 billion based on the current share price.

The post Here’s why the Flight Centre share price is taking off today appeared first on The Motley Fool Australia.

More reading

• These are the 10 most shorted ASX shares
• Do Flight Centre shares have a dividend reinvestment plan?
• Who owns Flight Centre (ASX:FLT) shares? You’ll want to read this
• Finally! 4 travel ASX shares ready to take off: expert
• Do Flight Centre shares pay dividends?

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Helloworld Limited. The Motley Fool Australia owns and has recommended Helloworld Limited. The Motley Fool Australia has recommended Corporate Travel Management Limited, Flight Centre Travel Group Limited, and Webjet 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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Shares in Whispir Ltd (ASX: WSP) are tracking higher today and now trade 8% in the green at $1.98.

Right from the open, Whispir shares began the stair climb before peaking just after midday at $2.03 apiece. It has since cooled off to its current levels after trading sideways for the bulk of the day.

Whispir has a way to go if it is to return to its former highs, having evaporated more than 43% in the past 12 months. It has been on the elevator down south with fair certainty in that time.

What’s up with Whispir shares?

Despite the longer-term headwinds, Whispir has jumped 38% in the past month and is up another 22% in the previous week of trade.

After struggling early in the year, investors have rallied behind the company of late. Momentum continues this session as well – its share price is catching bids at a volume of 148% of its 4-week average today.

The upside is coming off a slumped period in 2022 where shares are still more than 4% in the red. However, it’s not just market sentiment that’s bullish.

Analysts are bullish too. Out of five firms covering the stock, four have it as a buy according to Bloomberg data.

The consensus price target is $3.29 per share, a huge up-step from the current market price of roughly $2 per share.

In fact, the bulk of analysts covering the company have been saying to buy Whispir shares for the previous 2 years, whilst the average price target has crept down somewhat.

Nonetheless, tech shares are staging a comeback, with the S&P/ASX All Technology Index (XTX) lunging another 10% higher this last month after springing off a low base.

With tech shares helping to keep the market buoyant, Whispir continues soaring higher in afternoon trade on Tuesday.

The post What’s up with the Whispir share price today? appeared first on The Motley Fool Australia.

More reading

• 3 exciting small cap ASX shares for your watchlist
• 2 exciting small cap ASX shares for your watchlist

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. owns and has recommended Whispir Ltd. The Motley Fool Australia has recommended Whispir 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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The S&P/ASX 200 Index (ASX: XJO) is on form and on course to record a strong gain. In afternoon trade, the benchmark index is up 0.6% to 7,558.2 points.

Four ASX shares that have failed to follow the market higher today are listed below. Here’s why they are dropping:

A2 Milk Company Ltd (ASX: A2M)

The A2 Milk share price is down over 1% to $5.11. Investors have been selling this infant formula company’s shares following the release of a bearish broker note out of Citi. According to the note, the broker has downgraded A2 Milk’s shares to a sell rating and slashed their price target by almost a third to $4.80. This was driven by weakening Chinese ecommerce infant formula prices and COVID lockdowns impacting ports. The broker has also recently warned of potential delays to the company’s China label registration renewal.

IGO Ltd (ASX: IGO)

The IGO share price is down 3% to $14.56. This follows news that its planned acquisition of Western Areas Ltd (ASX: WSA) was dealt a major blow. While it has yet to be confirmed, IGO advised that it understands the independent expert has concluded that its takeover offer is not in the best interests of Western Areas’ shareholders. In light of this, IGO is expecting the Western Areas board to terminate the scheme implementation deed.

Lynas Rare Earths Ltd (ASX: LYC)

The Lynas share price is down 4% to $10.92. This is despite there being no news out of the rare earths producer. Though, it is worth noting that Iluka Resources Ltd (ASX: ILU) has just announced that it will go ahead with phase three of the Eneabba Rare Earths Refinery in Western Australia. Iluka’s refinery will produce high value rare earth oxides neodymium, praseodymium, dysprosium and terbium.

Sayona Mining Ltd (ASX: SYA)

The Sayona Mining share price is down 4.5% to 31.5 cents. A number of lithium miners are falling heavily today amid weakness in the sector. This appears to have been driven by profit taking after some very strong gains in recent weeks. The Sayona Mining share price, for example, is still up 140% in the space of a month after this decline.

The post Why A2 Milk, IGO, Lynas, and Sayona shares are dropping appeared first on The Motley Fool Australia.

More reading

• Why is the Sayona (ASX:SYA) share price tumbling 9% today?
• 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?
• The Lynas Rare Earths (ASX:LYC) share price just hit a 10-year high!
• Why is the Novonix (ASX:NVX) share price charging 6% higher?

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 recommended A2 Milk. 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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S&P/ASX 200 Index (ASX: XJO) shares have come roaring back following January’s sharp selloff.

That rebound now sees the ASX 200 up 1.7% since the closing bell sounded on 31 December. A performance that’s even more impressive when compared to the 3.8% loss posted by the S&P 500 over that same period.

The Australian market has been broadly supported by its prevalence of resource and energy stocks.

ASX 200 shares in the energy sector have raced higher in 2022, sending the S&P/ASX 200 Energy Index (ASX: XEJ) up an eye popping 30.8%.

Resources and materials companies have also outperformed, as witnessed by the 14% year-to-date gain posted by the S&P/ASX 200 Materials Index (ASX: XMJ).

On top of that outperformance over their global peers, analysts remain broadly positive about the outlook for ASX 200 shares.

Why the outlook for ASX 200 shares remains positive

Jun Bei Liu is the lead portfolio manager at Tribeca Investment Partners.

Commenting on the performance of the ASX this year, Liu said (quoted by The Australian Financial Review):

It’s been an incredible performance this quarter, and we’re still in a pretty good growth outlook. Higher commodities have played a big role, our domestic economy does look better, and it will grow better than the rest of the world.

Liu pointed out that ASX 200 shares performed strongly, despite some of the bigger growth stocks falling.

“It’s been incredibly volatile, and it has surprised me how strong we’ve pulled through this month,” she said. “But while there might be volatility because the growth names have sold off, the factors underpinning the Australian equity market will persist and all of that together will put us in a pretty good position.”

Inflation and soaring prices spur commodity stocks

Co-head of mining research at UBS Lachlan Shaw said investor concerns over rising inflation will have helped the performance of ASX 200 shares in the commodity space.

According to Shaw (quoted by the AFR):

Commodities are seen traditionally as a bit of an inflation hedge, and commodity prices are certainly doing their part right now. For now, they are getting a lot of interest from investors in terms of the inflation hedge, in terms of what’s showing up in the headline price.

Atop inflation concerns, most resources are trading at or near multi-year highs.

Demand for raw materials is soaring as the world recovers from pandemic closures, outpacing the sector’s ability to boost supply. The situation is greatly exacerbated by Russia’s invasion of Ukraine.

“Higher prices for longer means higher earnings and higher cash flows, and, for most of these names, a step-up again in returns and dividends,” Shaw said.

All of which should help the overall performance of ASX 200 shares in the months ahead.

The post Here’s why ASX 200 shares still have ‘a pretty good growth outlook’ appeared first on The Motley Fool Australia.

More reading

• ASX 200 (ASX:XJO) midday update: IGO dealt blow, Block’s data breach, Xero jumps
• 5 things to watch on the ASX 200 on Tuesday
• Here are the 3 most heavily traded ASX 200 shares on Monday
• Here’s what $10,000 invested in CSL shares 5 years ago looks like now
• These were the best and worst performing ASX sectors 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 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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Tuesday is proving to be a rough day for the Sayona Mining Ltd (ASX: SYA) share price.

That’s despite no news having been released by the company. Additionally, its stock is flying off the shelf, with more than 209 million shares in the company having swapped hands at the time of writing.

Right now, the Sayona share price is 31 cents, 6.06% lower than its previous close.

However, earlier today, the emerging lithium producer’s stock hit a low of 30 cents, representing a 9% slump.

For context, the S&P/ASX 200 Index(ASX: XJO) and the All Ordinaries Index (ASX: XAO) are both currently up 0.6%.

So, what’s weighing on the Sayona share price on Tuesday? Let’s take a look.

Why is the Sayona share price in the red?

Sayona shares are struggling today, alongside both the S&P/ASX 200 Resource Index (ASX: XJR) and the S&P/ASX 200 Materials Index (ASX: XMJ).

Right now, these sectors are down 0.28% and 0.45% respectively.

While Sayona isn’t a part of the ASX 200, the sectors’ struggles prove today is a rough day for many ASX mining shares.

The AVZ Minerals Ltd (ASX: AVZ) share price is currently the ASX 200’s biggest weight, having fallen 6%.

Additionally, the Sayona share price rocketed 32% higher yesterday after the company released exciting news of its Authier Lithium Project.

Spodumene produced at the project was found to be capable of creating battery-grade lithium hydroxide.

The company also updated the market on what it’s been up to in 2022 so far, with its managing director Brett Lynch commenting it’s had “an extremely bright start” to the year.

Thus, today’s moves might be the market’s way of rebalancing the stock’s value after yesterday’s gains.

Fortunately, today’s fall hasn’t been enough to put the company’s shares back into the long-term red.

Right now, the Sayona share price is 121% higher than it was at the start of 2022.

The post Why is the Sayona (ASX:SYA) share price tumbling 9% today? appeared first on The Motley Fool Australia.

More reading

• Why is the Novonix (ASX:NVX) share price charging 6% higher?
• Why Allkem, Iluka, Pendal, and Sayona Mining shares are charging higher
• Here’s why the Sayona (ASX:SYA) share price is surging 34% on Monday
• Why is the Sayona Mining (ASX:SYA) share price rocking a new 10-year high today?
• Why is the Sayona (ASX:SYA) share price getting so much love on Friday?

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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