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The Australia and New Zealand Banking Group Ltd (ASX: ANZ) share price was a positive performer in March.

Over the period, the banking giant’s shares rose by a sizeable 6.1%.

Why did the ANZ share price storm higher in March?

The catalyst for the rise in the ANZ share price last month was commentary out of both the US Federal Reserve and the Reserve Bank of Australia.

Hawkish comments from both central banks have sparked hopes that interest rates could be rising quicker than previously expected to combat rising inflation.

This would be good news for ANZ and the rest of the banks as it would be a boost to their interest income, which has been under significant pressure with rates close to zero.

Can its shares go higher?

The good news is that one leading broker still sees value in the ANZ share price even after its solid gain in March.

A recent note out of Goldman Sachs reveals that its analysts have a buy rating and $30.84 price target on the bank’s shares.

Based on the current ANZ share price of $27.18, this implies potential upside of 13.5% for investors over the next 12 months.

In addition, the broker is expecting fully franked dividend yields of ~5.4% and ~5.7% in FY 2022 and FY 2023, respectively. This increases its potential 12-month total return to approximately 19%.

Goldman commented: “Despite the weak [Q1] update we stay Buy rated on ANZ given i) ANZ appears to be on track to reach its FY23 cost target of A$8 bn, which should alleviate some of its revenue pressures, ii) ANZ is making progress to improve systems and processes for simple home loans with application times now in line with major bank peers, iii) ANZ is considering increasing the size of the current on-market buy-back ($1.5 billion announced in Jul-21), and iv) the stock is trading more than one standard deviation cheaper versus the sector on PPOP multiples.”

The post Here’s how the ANZ share price performed in March appeared first on The Motley Fool Australia.

More reading

• How did ASX 200 bank shares perform today?
• What’s the outlook for the ANZ share price in April?
• What is the current dividend yield on ANZ shares?
• Is the new ANZ digital offering all it’s cracked up to be?
• Own ANZ shares? The ASX 200 bank just became the first to launch its own crypto

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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Friday has proven to be a good day for mining and resources shares, with five ASX miners – three of which are in the S&P/ASX 200 Index (ASX: XJO) – recording all-time highs.

Interestingly, all the mining stocks breaking milestone records were lithium miners, and for good reason. Positive news of the commodity’s value hit the ASX this morning.

At the close of trade, the S&P/ASX 200 Resources Index (ASX: XJR) was up 1.52%, while the ASX 200 fell 0.08%.

So, what’s boosted these ASX 200 mining shares to never-before-seen heights on Friday? Let’s take a look.

5 ASX mining shares reaching new heights on Friday

Allkem Ltd (ASX: AKE)

Let’s start with the Allkem share price’s movements today.

The company is both the only miner on this list to have released news on Friday and the likely source of many ASX lithium stocks’ gains.

The Allkem share price launched 8.9% to a new record high of $12.45 in intraday trade, before closing up 8.49% at $12.40.

Its gains came after the company released its lithium carbonate and spodumene pricing forecast for the June quarter.  

It expects lithium prices to continue rising this quarter after prices in March beat its previous forecast by 9% to reach roughly US$27,236 a tonne free on board.

According to Allkem, lithium prices could surge to approximately $US35,000 per tonne free on board this quarter.

It’s predicting similar increases to spodumene prices, with prices expected to reach US$5,000 a tonne on sales of around 50,000 tonnes.

During the March quarter, such sales were going for approximately US$2,218 per tonne, including tonnes that were delayed from the December quarter.

Lake Resources N.L. (ASX: LKE)

Of course, Allkem’s bullish lithium outlook likely boosted sentiment in other ASX lithium mining shares.

The Lake Resources share price shot 15.79% higher to trade at a new all-time high of $2.31 in afternoon trade.

AVZ Minerals Ltd (ASX: AVZ)

Similarly, the AVZ Minerals share price rocketed to a record high of $1.31 on Friday.

That represented a 5.6% increase on its previous closing price.

At its new highest point, the company’s stock was trading for a whopping 589% more than it was this time last year. It closed at $1.30.

Core Lithium Ltd (ASX: CXO)

And, dear reader, you guessed it – the next ASX mining share on this list of record breakers is also a lithium stock.

The Core Lithium share price closed at a new all-time high of $1.535 on Friday, launching 11.64% to get there.

It marks the second day in a row the company’s stock has recorded a strong gain.

It surged 8.7% yesterday on the back of news of its Finniss lithium project, under development near Darwin.

IGO Ltd (ASX: IGO)

The final ASX mining share making this list has plenty of interests in lithium. Though, it is also focused on other green metals.

The IGO share price surpassed its all-time high to trade at $14.49 in intraday trade on Friday. That represents a 3% gain on its previous close.

However, it later retreated to end the day up 2.49% at $14.41.

The post 5 ASX mining shares rocking all-time highs on Friday appeared first on The Motley Fool Australia.

More reading

• Why Allkem, Argosy Minerals, Firefinch, and Tabcorp shares are charging higher
• Allkem (ASX:AKE) share price leaps 6% following lithium pricing update
• ASX 200 (ASX:XJO) midday update: Allkem jumps on lithium pricing update: Domain to acquire Realbase
• Why is the Lake Resources (ASX:LKE) share price surging 16% higher to a new record high?
• These were the best performing ASX 200 shares in March

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 Betmakers Technology Group Ltd (ASX: BET) share price is sliding 2% lower on Friday and is currently at 62 cents.

The downfall extends this year’s loss for the company, with shares tanking more than 22% since trading restarted in January.

Just in the last week, they have slipped 9% into the red.

What’s up with Betmakers?

The Betmakers share price had been on a gradual glide towards the landing strip since October last year. Over that time, it has tumbled from a high of $1.23 with no obvious signs of recovery along the way.

Selling pressure only continued when Betmakers released its FY22 half-year earnings last month, in which the company recorded a loss after tax of $27.8 million, far worse than the $4.4 million the previous year.

Excluding non-cash items like depreciation, the loss still amounted to almost $23 million, whereas net tangible assets climbed to $137.6 million.

This is despite a 473% jump in revenue to $43.5 million for the year. However, Betmakers also diluted its share count from 601.5 million shares to almost 858 million shares during the period.

Investors punished the company after its results, sending the Betmakers share price tumbling by 6%.

They’ve yet to make a recovery and have been trading in a narrow sideways channel since.

Betmakers share price snapshot

In the last 12 months the Betmakers share price has lost 45% and is down 22% this year to date.

However, it has gained almost 11% over the past month.

The post Why is the Betmakers (ASX:BET) share price having such a lousy week? appeared first on The Motley Fool Australia.

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• These are the 10 most shorted ASX shares
• These are the 10 most shorted ASX shares
• These are the 10 most shorted ASX shares

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 Betmakers Technology Group Ltd. The Motley Fool Australia has recommended Betmakers Technology Group 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 Woodside Petroleum Limited (ASX: WPL) share price touched a fresh 52-week high of $34.60 in early March.

Although some gains have been given back since, the energy giant’s shares are currently trading at $32.57, up 1.48% on the day.

It’s worth noting that Woodside shares surged 12.47% last month, buoyed by positive investor sentiment in the sector.

Let’s take a look at why the company’s shares have been a winner lately.

What’s been elevating Woodside?

The price of oil has soared in recent times following the militarily conflict between Russia and Ukraine.

The United States and its allies slapped harsh sanctions on Russia over the invasion, targeting its oil and gas sector. Cutting off an important player and member of the Organisation of Petroleum Exporting Countries (OPEC) sent shockwaves through energy markets.

Currently, Brent crude, considered as the benchmark for oil prices, is fetching US$104.51 per barrel. This reflects an increase of about 13.2% since the invasion began on 24 February.

With the price of oil skyrocketing, this undoubtedly leads to bumper revenues for Woodside and other ASX energy shares alike.

In contrast, the S&P/ASX 200 Energy Index (ASX: XEJ) climbed almost 10% during March.

However, this may be short-lived following US President Joe Biden’s decision overnight to release much-needed oil to global markets.

As such, one million barrels of oil are set to be released each day from the United States strategic petroleum reserve. This will run over a course of six months which would equate to 180 million barrels of oil.

Even though this is the largest release ever in the history of the United States, it may not be significant enough. This is because the 180 million barrels of oil represents just two days of global demand for the crucial commodity.

Pleasingly for Australian oil and gas producers, this could lead to export opportunities to fill the energy gap. Particularly at current prices, Woodside could stand to benefit from this turmoil.

Woodside share price summary

The Woodside share price has gained 35% over the last 12 months, and is up almost 50% in 2022.

Based on today’s price, Woodside commands a market capitalisation of roughly $32.04 billion, with approximately 983.98 million shares on issue.

The post The Woodside share price gained 12% in March. Here’s why appeared first on The Motley Fool Australia.

More reading

• 5 things to watch on the ASX 200 on Friday
• What’s dragging on ASX 200 energy shares today?
• Woodside share price dips despite ‘significant achievement’. Here’s why
• 5 things to watch on the ASX 200 on Thursday
• Own ASX 200 energy shares? Here’s the latest on the 2022 crude oil disruptions

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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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to end the week with a small gain. At the time of writing, the benchmark index is up slightly to 7,505 points.

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

Bank of Queensland Limited (ASX: BOQ)

The Bank of Queensland share price is down almost 2.5% to $8.48. Investors have been selling this regional bank’s shares today following the release of a broker note out of Macquarie. According to the note, the broker has downgraded the bank’s shares to a neutral rating from outperform and cut the price target on them to $9.00.

Block Inc (ASX: SQ2)

The Block share price is down 2.5% to $180.49. This follows weakness in the tech sector following a poor night of trade on the Nasdaq index. It isn’t just the Block share price that is trading lower today. The S&P ASX All Technology index is down by a disappointing 1.3% this afternoon.

Premier Investments Limited (ASX: PMV)

The Premier Investments share price is down 2.5% to $26.82. This may have been driven by a broker note out of Goldman Sachs this morning. According to the note, the broker has retained its sell rating and $24.30 price target on the retailer’s shares. It believes the apparel and accessories category will be most susceptible to downside risk from the weakening of the discretionary goods growth.

REA Group Limited (ASX: REA)

The REA share price is down 3.5% to $130.82. Investors may have concerns that rival Domain Holdings Australia Ltd (ASX: DHG) is closing the gap on REA following the announcement of its $180 million acquisition of Realbase. It is a leading campaign management technology platform in the Australia and New Zealand region. Management expects it to progress Domain’s strategy to deliver solutions that help agents and consumers at every stage of the property journey.

The post Why Bank of Queensland, Block, Premier Investments, and REA shares are dropping appeared first on The Motley Fool Australia.

More reading

• 2 highly rated ASX 200 shares analysts are tipping as buys right now
• Why Air NZ, Block, Eagers Automotive, and Harvey Norman shares are dropping
• ASX 200 (ASX:XJO) midday update: Tabcorp demerger update, BHP higher, Block tumbles
• How did ASX 200 bank shares perform today?
• BOQ share price punches 8% higher in March to sprout into the green

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 Block, Inc. The Motley Fool Australia owns and has recommended Block, Inc. The Motley Fool Australia has recommended Premier Investments Limited and 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 Nearmap Ltd (ASX: NEA) share price is in reverse today following an update relating to alleged patent infringements.

At the time of writing, the aerial imagery specialist’s shares are down 2.53% to $1.447.

Nearmap challenges ‘meritless claims’

In today’s statement, Nearmap advised it has filed three ‘inter partes’ reviews against EagleView and Pictometry. This is in regards to three patents that are subject to the current litigation of the latter.

EagleView and Pictometry has taken Nearmap to court due to alleged infringements surrounding its roof-estimation technology.

‘Inter partes’ is a legal procedure that disputes the validity of a United States patent before the country’s patent trial and appeal board.

Nearmap has stated that EagleView and Pictometry’s legal action is based on “meritless claims”.

Thankfully, the company says the ongoing legal challenge has not affected Nearmap’s operations in the United States.

Management noted that its North American portfolio continues to grow strongly following the recent signing of its largest ever government annual contract.

As such, Nearmap earlier this week highlighted it has surpassed group annual contract value (ACV) of $150 million for the first time ever. The Nearmap share price jumped 16% on the back of this announcement.

Furthermore, its North American business has surpassed the Australia and New Zealand portfolio.

The company reaffirmed that group ACV guidance is expected to be at the upper end of the $150 million to $160 million guidance range in FY22.

Nearmap share price summary

The Nearmap share price has faced a number of turbulent months, leading its shares to record a 30% loss over the past 12 months.

At current, the company’s share price is sitting within the lower end of its 52-week range of $1.065 to $2.38.

On valuation grounds, Nearmap commands a market capitalisation of roughly $720.99 million, with more than 498.95 million shares on issue.

The post Nearmap (ASX:NEA) share price backtracks following legal challenge update appeared first on The Motley Fool Australia.

More reading

• Top ASX shares to buy in April 2022
• Why Block, Lake Resources, Nearmap, and Telix shares are racing higher
• Why is the Nearmap (ASX:NEA) share price rocketing 13% today?

Motley Fool contributor Aaron Teboneras owns Nearmap Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Nearmap Ltd. The Motley Fool Australia owns and has recommended Nearmap 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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Pursuit Minerals Ltd (ASX: PUR) shares are shooting the lights out today, up by more than 50% after the minerals company announced a new find.

The ASX mining share revealed multiple gold and copper targets had been identified at its Warrior PGE-Ni-Cu Project in Calingiri East in Western Australia.

At the time of writing, the Pursuit Minerals share price is trading at 2.9 cents, up 52.63%.

What did Pursuit Minerals discover?

The nano-cap miner told the market today an analysis of auger soil sample assay results showed three high priority gold and copper targets.

This includes a 700m x 250m gold anomaly that is 50 times higher than the surrounding background values identified at the project’s Ablett prospect.

Pursuit managing director Bob Affleck said a consultant geochemist had confirmed the Au-Bi-As-Sb-Pb Orogenic Gold signature was “potentially related to basement mineralisation and not just enhancement in the regolith”.

The assay results also identified three high priority Pd anomalies at or near the Ablett prospect.

In addition, there are two large and untested copper anomalies at the new Smogo’s and Phil’s Hill West prospects. Pursuit said the results “compare very favourably with early soil results over Chalice Mining’s Gonneville discovery1 where 30ppm Cu, 150ppm Ni and 6ppm Pd were considered significant.”

What happens next?

Pursuit collected 2,017 samples taken at depths between 1.5m and 1.8m. The assays from 1,533 samples are now available, and the other results are pending.

Pursuit will start air core drilling of the targets this month. The miner intends to drill about 2,500m. The company expects the results of the drilling program in late June.

In its statement, the company said the results would “form the basis of ongoing campaigns at Calingiri East”.

Here’s what management said …

Commenting on the discovery, Affleck said:

Pursuit is excited to confirm multiple drill targets have been outlined by first pass auger sampling at Calingiri East. Analysis of the assays by consultant geochemist Dr Carl Brauhart of CSA Global confirms a Au-Bi-As-Sb-Pb signature at the Ablett Prospect is potentially related to basement mineralisation and not just enhancement in the regolith.

Additional fieldwork in March confirmed our Warrior ground has the right host rocks for Ni-Cu-PGE mineralisation, and we look forward to receiving infill sampling results and completing our forthcoming Air Core program in April.

What else is news with this ASX mining share?

Pursuit Minerals announced some changes to its executive team yesterday.

Pursuit appointed Affleck managing director, effective today, after almost a year as technical director. Affleck has more than 25 years of experience in minerals exploration. According to the statement, Affleck had been “critical to the advancement of the company’s exploration focus at its WA projects”.

Finance director Mark Freeman said: “With the company’s focus on the Warrior and Commando Projects in WA, it becomes clear that having a full time dedicated explorationist would have strong benefits for the company.”

Pursuit Minerals has a market capitalisation of $17.96 million.

The post Guess which ASX mining share just exploded 50% on a new strike appeared first on The Motley Fool Australia.

More reading

• Discounted bargain? The Kogan (ASX:KGN) share price is down 3%
• Brokers name 3 ASX shares to buy today
• 3 ASX All Ords commodities shares smashing new highs today
• Own Pilbara Minerals shares? Here’s why the CEO is so bullish on lithium prices
• The Ethereum price rocketed 25% higher in March. Here’s why

Motley Fool contributor Bronwyn Allen 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 Kogan.com Ltd (ASX: KGN) share price is currently down by more than 3%.

It has been a difficult 2022 so far for the e-commerce business. In the calendar year to date, Kogan shares have dropped by 36%.

The past year looks even worse for the business, registering a 55% decline.

What has happened to the Kogan share price?

In the last few months, there has been more investor attention on inflation and how interest rates may need to rise to combat that.

Billionaire Ray Dalio, the founder of Bridgewater Associates, once commented on how interest rates can affect asset prices:

It all comes down to interest rates. As an investor, all you’re doing is putting up a lump sum payment for a future cash flow.

But Kogan has also been dealing with its own issues that have been impacting the company. The company commented on its FY22 half-year result in late February that things had not turned around yet.

HY22 commentary

In the first six months of FY22, it said that gross sales had grown by 9.4% to $698 million.

However, due to the company’s problems, it made an earnings before interest, tax, depreciation and amortisation (EBITDA) loss of $2 million. It also made a statutory loss after tax of $11.9 million.

Kogan said that its losses reflected the impact of the continuing supply chain interruptions as a result of the COVID-19 situation and associated fluctuations in consumer demand.

Some of its costs, such as warehousing and selling costs, have been elevated because of the higher inventory levels. There have also been increased logistics costs.

However, the company has also been investing in expanding its Kogan First subscriber base because Kogan First subscribers demonstrate stronger loyalty and repeat purchasing behaviour than non-subscribers. It had 274,000 subscribers on 31 December 2021, with further growth to 310,000 in February 2022.

Broker opinion on the Kogan share price

UBS thinks it could be some time before the business recovers. The broker is ‘neutral’ on the Kogan share price, with a price target of $5.70.

The post Discounted bargain? The Kogan (ASX:KGN) share price is down 3% appeared first on The Motley Fool Australia.

More reading

• Kogan (ASX:KGN) shares spike another 6% post federal budget
• Up 8% in a month, are Kogan (ASX:KGN) shares staging a comeback rally?
• Sell rating: JB Hi-Fi (ASX:JHB) share price tipped to sink 28%
• These are the 10 most shorted ASX shares
• 3 ASX growth shares down more than 50% in a year

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. owns and has recommended Kogan.com ltd. The Motley Fool Australia owns and has recommended Kogan.com 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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It has been another busy week for Australia’s top brokers. This has led to the release of a large number of broker notes.

Three broker buy ratings that you might want to know more about are summarised below. Here’s why brokers think these ASX shares are in the buy zone:

Eagers Automotive Ltd (ASX: APE)

According to a note out of Morgans, its analysts have retained their add rating and $16.70 price target on this auto retailer’s shares. This follows news that it has signed an agreement to acquire a number of dealerships and associated properties for $205 million. Morgans expects the net earnings outcome to be ~3% accretion. It also notes that this portfolio optimisation provides Eagers Automative with immediate scale in the ACT, which will enable further geographic expansion of growth initiatives. The Eagers Automotive share price is trading at $13.89 on Friday.

Santos Ltd (ASX: STO)

A note out of Morgan Stanley reveals that its analysts have retained their overweight rating and $10.40 price target on this energy producer’s shares. This follows the release of the company’s climate change report this week. Morgan Stanley highlights that Santos is aiming to generate excess carbon credits from technologies to develop a carbon solutions business, creating new revenue streams and helping reduce customer emissions. The Santos share price is fetching $7.89 this afternoon.

Tabcorp Holdings Limited (ASX: TAH)

Analysts at Goldman Sachs have retained their buy rating and $6.20 price target on this gambling company’s shares. This follows the release of Tabcorp’s demerger update, which will see it spin off its lotteries business as a separately listed entity. Goldman is a fan of the plan and believes it could unlock significant shareholder value. The Tabcorp share price is trading at $5.51 on Friday afternoon.

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

More reading

• Why Allkem, Argosy Minerals, Firefinch, and Tabcorp shares are charging higher
• Tabcorp (ASX:TAH) share price jumps as possible legal action threatens $11b demerger
• 5 things to watch on the ASX 200 on Friday
• Why Air NZ, Block, Eagers Automotive, and Harvey Norman shares are dropping
• What’s dragging on ASX 200 energy shares 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 Goldman Sachs. 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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It’s a good day on the market for ASX commodities shares, and these 3 All Ordinaries Index (ASX: XAO) stocks are making the most of it.

These commodity-producing shares have each taken off to hit new multi-year or all-time highs.

So, what’s been driving them upwards on Friday? Let’s take a look.

3 ASX All Ords commodities shares beating records on Friday

Firefinch Ltd (ASX: FFX)

The Firefinch share price has been flying higher lately, having gained 64% over the last 30 days.

That gain has continued today, with the company’s stock surging 9.5% to a new multi-year high of $1.15 in intraday trade.

Today’s boost has been driven by news of the company’s Goulamina Lithium Project.

The project’s joint venture company has received US$130 million of funding from its 50% owner Jiangxi Ganfeng Lithium.

Firefinch is planning to ultimately devest its holding in the project as part of a proposed demerger.

Neometals Ltd (ASX: NMT)

The Neometals share price is also taking off on Friday, launching 11.9% to reach $1.97 at its highest point of today’s session so far.

That gain also saw the ASX All Ords commodity stock reach an all-time high.   

The last time the market heard news from the vanadium producer and lithium recycler was on Tuesday.

Then, it released news of its joint venture, Primobius, which had opened its German commercial lithium-ion battery recycling facility.

However, the company’s latest gains might be more to do with its work in the vanadium sphere.

As The Motley Fool Australia’s Sebastian Bowen reported yesterday, the element has been the talk of the town on the ASX.

That might be drawing attention to the stock and potentially buoying its share price.

Argosy Minerals Limited (ASX: AGY)

The final ASX All Ords commodity share to be reaching new heights on Friday is Argosy Minerals.

The lithium miner’s stock surged 8.5% earlier today to trade at a new all-time high of 51 cents.

The gains followed news of the company’s Rincon Project – its lithium carbonate production operation.

67% of the development works at the project have now been completed and production is on track to begin in the middle of this year.

The post 3 ASX All Ords commodities shares smashing new highs today appeared first on The Motley Fool Australia.

More reading

• Why Allkem, Argosy Minerals, Firefinch, and Tabcorp shares are charging higher
• Neometals (ASX:NMT) share price shoots to new 52-week high
• Here’s why lithium miner Argosy Minerals’ (ASX:AGY) share price is leaping 9% today
• Why is the Firefinch (ASX:FFX) share price charging higher again?
• The US is backing Aussie critical minerals projects, and these ASX mining shares could be set to reap the rewards

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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