Tag: Motley Fool

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.

What happened

Ethereum (CRYPTO: ETH) is the world’s second-largest cryptocurrency. However, Ethereum appears to be the top token right now in terms of investor interest, as this token surges higher once again today. As of 11:50 a.m. ET, Ethereum has surged 1.5% over the past 24 hours, bringing the token to within spitting distance of a key psychological level of $3,500 per token.

Interestingly, Ethereum has been one of the more consistent winners over the past week, up 12% over the past seven days. Most of this gain appears to be attributable to the highly anticipated upcoming “Ethereum merge”. Search interest for the Ethereum merge has skyrocketed of late, as investors look to understand what’s going on with this foundational crypto network. 

So what

Essentially, Ethereum is undergoing a series of updates to bring a proof-of-stake consensus mechanism into place. Right now, the Ethereum network relies on a proof-of-work mechanism to validate transactions on its blockchain and secure the network. This is the highly energy-intensive process involving serious computing power to solve complex mathematical problems that many investors don’t like.

Thus, this shift toward a proof-of-stake network is a big deal. The Ethereum merge will put an end to proof of work, ushering in a new staking-based consensus mechanism that environmentalists and investors alike are cheering. That’s because in addition to being better for the environment, investors will be able to stake their ETH tokens and earn rewards that are estimated to be in the double-digit range, just for locking them in and participating in the consensus mechanism. 

Now what

This Ethereum merge is a multi-part upgrade, ushering in what will be Ethereum 2.0 or Eth2. It’s generally expected that this update will launch sometime next quarter, with no specifics yet on the exact launch date. Accordingly, there’s a lot of positive anticipation about what’s on the horizon with the Ethereum network.

That said, this update isn’t without risk. It’s probably too early to tell whether this upgrade will go live without a hitch, and whether existing issues such as slow speeds and high costs will be “solved” with this update.

That said, investors seem to like the rhetoric around this upcoming merge, and are buying tokens en masse ahead of this upgrade. Over the coming months, I think Ethereum could be much more volatile than we’ve seen in the past. Accordingly, investors looking at jumping into the token at these levels should be prepared for some rather impressive moves over the near- to medium-term.

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

The post Anticipation around the Ethereum merge is driving this token toward the key $3,500 level today appeared first on The Motley Fool Australia.

More reading

• Fortescue Future Industries just inked a multibillion-dollar green hydrogen deal in Germany. Here’s the lowdown
• What’s the outlook for the ANZ share price in April?
• ASX 200 (ASX:XJO) midday update: Telstra CEO steps down, Fortescue confirms E.ON deal
• Rivian stock soared today — is it a buy?
• The Aurizon (ASX:AZJ) dividend is being paid today. Here’s what you need to know

Chris MacDonald owns Ethereum. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Ethereum. The Motley Fool Australia owns and has recommended 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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This morning, the Fortescue Metals Group Limited (ASX: FMG) share price has exited a short-lived trading halt. The company was clarifying details around a deal made by its renewable energy arm, Fortescue Future Industries, to build a “hydrogen bridge” to Europe.

The deal will see Fortescue Future Industries supplying the continent with up to 5 million tonnes of green hydrogen annually by 2030.

That’s enough hydrogen to replace around a third of the calorific energy Germany imports from Russia.

Fortescue Metals’ shares went on ice this morning, pending an announcement release. That announcement clarified details around the potential cost of the deal.

At the time of writing, the Fortescue Metals share price is $19.58, 0.46% higher than its previous close.

Let’s take a closer look at today’s news from the iron ore giant’s hydrogen-focused green energy entity.

Fortescue Metals share price thawed on cost clarification

The Fortescue Metals share price was put in the freezer this morning amid news Fortescue Future Industries has entered a memorandum of understanding with E.ON to supply Europe with green hydrogen.

It was inked in Berlin by Fortescue Future Industries and E.ON. E.ON operates one of Europe’s largest energy networks and infrastructure and provides energy to 50 million customers.

The agreement caused chaos on the market this morning, with Fortescue Metals entering a trading halt before clarifying the details of its projected cost.

Fortescue Metals and Fortescue Future Industries chair and founder Dr Andrew ‘Twiggy’ Forrest initially told media the supply agreement will cost a minimum of US$50 billion (AU$66.6 billion).

In today’s release to the ASX, the company stated:

The expenditure described is a high-level assessment by the chairman of what such a major
project may cost and is appropriate in the environment the statement was made to provide context
and scale of the potential of the [memorandum of understanding].

The company has made no commitment to the expenditure. What’s more, any decision to spend that amount of cash would require approval from its board.

Fortescue Metals also said that, on top of its commitment to spend 10% of its net profits after tax (NPAT) on its green energy leg, it’s working with financiers to confirm project funding for green energy.

More details on Fortescue Future Industries’ ‘milestone’ deal

Fortescue Future Industries and E.ON will take to the books before the metaphorical shovel breaks any ground. They’ve agreed to research how to supply the renewable energy commodity as fast as possible.

Both have their sights on creating a 5 million tonne-per-annum green hydrogen supply chain.

E.ON CEO Leo Birnbaum said the partnership is a “milestone” in Europe’s energy transition.  

“Two major international companies are joining forces to build a ‘hydrogen bridge’ from Australia to Germany and the Netherlands, based on shared values and the joint capability of realising the scale of such a project,” said Birnbaum.

That “hydrogen bridge” will also help steer Europe away from its reliance on Russian energy fuel, said Forrest.

Fortescue Future Industries expects Australia will be the birthplace of much of Europe’s future green hydrogen. FFI’s other global projects will also have a role in the commodity’s production.

E.ON will then distribute the energy commodity across Europe. There, it will help to decarbonise thousands of enterprises in Germany and the Netherlands, as well as other European cities and communities supplied by E.ON.

According to Fortescue Metals CEO Elizabeth Gaines, the deal is a “decisive step forward in FFI’s journey to become one of the world’s largest green energy producers.”

The post Fortescue Future Industries just inked a multibillion-dollar green hydrogen deal in Germany. Here’s the lowdown appeared first on The Motley Fool Australia.

More reading

• ASX 200 (ASX:XJO) midday update: Telstra CEO steps down, Fortescue confirms E.ON deal
• Why is the Fortescue share price paused?
• 5 things to watch on the ASX 200 on Wednesday
• Leading brokers name 3 ASX shares to sell today
• What is the outlook for ASX 200 mining shares in April?

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 Australia and New Zealand Banking Group Ltd (ASX: ANZ) share price has risen by more than 7% in March. At the time of writing, it has beaten the performance of the S&P/ASX 200 Index (ASX: XJO) which has risen 6.7% so far this month. But what’s the outlook for the bank share in April?

ANZ shares are essentially flat in 2022, but most brokers are optimistic about the business with plenty of buy ratings.

Broker ratings on the ANZ share price

UBS rates ANZ as a buy, with a price target of $30. That implies a potential upside of 7% over the next 12 months. It noted ANZ’s new banking offering, ANZ Plus, though it doesn’t think it will help with its problems in mortgages.

Ord Minnett also rates ANZ as a buy, with a price target of $30.50. That’s a potential upside of almost 10%. However, it said that starting a whole new system and migrating people could come with issues, such as the costs of operating both systems at once. It notes this may hurt the bank’s ability to reduce costs.

What is ANZ Plus?

ANZ Plus is ANZ’s attempt to catch up with its banking rivals. ANZ said:

Smart, secure and designed to help improve financial wellbeing, the new ANZ Plus app makes managing your money simple (and fun!). With helpful tools and expert support, as well as easy ways to pay and save, this is a new way to bank.

The ANZ Plus app is expertly designed to give you more visibility and control over your money and help you achieve your financial goals.

How is the bank performing?

The latest that investors have heard from the bank is its market update for the three months ending 31 December 2021.

It said that the group net interest margin (NIM) was down eight basis points for the quarter, with the underlying NIM down five basis points. ANZ said this was largely driven by a lower exit rate at the full year (compared to the second half average) and a continuation of the structural headwinds impacting the sector.

ANZ noted the impact of rising rates, predominately in New Zealand, and recent deposit pricing changes that are expected to moderate these ongoing headwinds in the second quarter.

The big four ASX bank outlined that it has made solid progress in Australia to improve systems and processes for simple home loans with application times now in line with other major lenders.

However, efforts continue to improve response times for more complex home loan applications.

ANZ’s Australian home loans balance sheet grew slightly in the first quarter of FY22. Due to the high levels of refinancing activity in the sector, managing both attrition and margins remain key areas of focus for the bank.

Its ‘run the bank’ costs are expected to be broadly flat in the first half while it invests for growth.

Management said that the credit quality environment has remained “benign” with a total provision release of $44 million during the quarter.

ANZ said that its capital position continues to provide flexibility to return further surplus capital to shareholders. It’s considering increasing the size of the current on-market share buyback. The decision will balance the importance of capital efficiency against maintaining an appropriately strong balance sheet and continued monitoring of the economic situation.

The post What’s the outlook for the ANZ share price in April? appeared first on The Motley Fool Australia.

More reading

• 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
• Why are ASX 200 bank shares underperforming on Thursday?
• Own ANZ shares? Here’s why today was a big day for the bank

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 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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At lunch on Wednesday, the S&P/ASX 200 Index (ASX: XJO) is on course to record another solid gain. The benchmark index is currently up 0.7% to 7,514.9 points.

Here’s what is happening on the ASX 200 today:

Telstra CEO to retire

The Telstra Corporation Ltd (ASX: TLS) share price is in the red today. This follows news that the telco giant’s chief executive officer, Andrew Penn, will be stepping down from the role at the end of August. He will be replaced by the company’s current chief financial officer, Vicki Brady. She will take over on 1 September but will be working with Penn over the coming months to ensure that the transition is a smooth one.

Eagers Automotive announces acquisition

The Eagers Automotive Ltd (ASX: APE) share price is pushing higher today after the automotive retailer announced a major acquisition. According to the release, Eagers Automotive has entered into a non-binding agreement with WFM Motors to acquire a portfolio of dealerships and associated properties located in Canberra for approximately $205 million. The portfolio covers a range of brands including Toyota, Ford, Volkswagen, Jeep, Lexus, Subaru, Mitsubishi, Volvo, and GMSV.

Fortescue’s deal with E.ON

The Fortescue Metals Group Limited (ASX: FMG) share price is rising after the mining giant confirmed the signing of a memorandum of understanding with Germany’s E.ON. As part of the agreement, the company’s Fortescue Future Industries business will aim to supply Germany with green hydrogen by 2030. Fortescue estimates that it will require a US$50 billion investment but isn’t committing to this expenditure at this stage.

Best and worst ASX 200 performers

The best performer on the ASX 200 on Wednesday has been the Magellan Financial Group Ltd (ASX: MFG) share price with an 8% gain. Investors may believe this fund manager’s shares have been oversold following a severe decline this year. The worst performer has been the Incitec Pivot Ltd (ASX: IPL) share price with a 5% decline. This is despite there being no news out of the agricultural chemicals company.

The post ASX 200 (ASX:XJO) midday update: Telstra CEO steps down, Fortescue confirms E.ON deal appeared first on The Motley Fool Australia.

More reading

• Why is the Fortescue share price paused?
• What you need to know about the new Telstra CEO
• Telstra share price on watch amid shock CEO exit
• 2 ASX dividend shares analysts rate as buys for April
• 5 things to watch on the ASX 200 on Wednesday

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 owns and has recommended Telstra 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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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.

The share price of electric vehicle (EV) maker Rivian Automotive (NASDAQ: RIVN) rose by more than 17% Tuesday. Even in the world of EV stocks, which tend to rise and fall rather dramatically, that’s a significant price spike. 

There was no specific news driving Rivian’s share price higher, though. Rather, it appears that investors may be trying to take advantage of the fact that the stock has fallen by more than 47% over the past three months.

Are investors right to be snatching up shares of the electric truck maker now? I think so, but I also think they should temper their expectations. 

There’s no denying that Rivian has created a fantastic product. Its R1T model is the first-ever all-electric pickup truck, and it won MotorTrend’s Truck of the Year award for 2022. 

That doesn’t mean it will be a slam dunk when it comes to sales, but it does indicate that Rivan could have a first-mover advantage in the EV pickup truck space. 

At a base price of about $79,000, the R1T isn’t cheap, and some other electric trucks will be hitting the market soon, most notably the Ford F-150 Lightning. But as Tesla‘s success has demonstrated, there’s a market for EVs that are designed, built, and sold by companies devoted entirely to that specific niche. 

Will traditional automakers succeed in the EV industry? Of course. But it seems a bit premature to count out disruptive players like Rivian that already have great products. 

One of the biggest arguments against Rivian right now is the fact that it’s facing supply chain problems and rising costs. 

While those are significant hurdles, and the company forecasts that it’ll only produce 25,000 vehicles this year, it also has enough cash to keep the company growing.

Rivian ended 2021 with $18.4 billion in cash, which should give the EV maker the financial cushion it needs to stay afloat as it expands production. 

That being said, there are no guarantees for Rivian or its investors. The automotive industry is experiencing a significant shift right now, and many traditional automakers will successfully move from gas-powered to battery-powered vehicles. 

Some of the current crop of hopeful EV makers will carve out their own niches over the next few years, and some may fade away. 

But with its current cash stockpile and its award-winning truck, Rivian has the potential to be a success over the long term, which is why I think opening a small position in this EV stock could be a smart move. 

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

The post Rivian stock soared today — is it a buy? appeared first on The Motley Fool Australia.

More reading

• Why Rivian tanked ahead of earnings after the bell
• Why Rivian stock keeps going down

Chris Neiger has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Tesla. 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. 

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

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The Aurizon Holdings Ltd (ASX: AZJ) share price is edging lower amid the company’s eligible shareholders being rewarded today.

The coal rail freight operator’s shares are currently down 0.27% to $3.67 apiece.

In context, the S&P/ASX 200 Index (ASX: XJO) is climbing during Wednesday morning’s trade. The benchmark index is up 0.55% to 7,505.5 points.

Aurizon pays out interim dividend

Aurizon reported mixed numbers across key metrics in its half year results for the 2022 financial year.

In summary, underlying net profit after tax (NPAT) fell 4% year on year to $257 million. This was driven by lower demand for services (wet weather) in addition to derailments and protester activity.

The board declared a 95% franked interim dividend of 10.5 cents per share to be paid on 30 March (today). This represents a decrease of 27% on the prior first half dividend of 14.4 cents per share.

Management noted that the reduction of the dividend supports Aurizon’s commitment to maintain current credit ratings as it progresses towards completing the acquisition of One Rail Australia.

When calculating against the current share price, Aurizon is trailing on a dividend yield of 7.48%.

In addition, the payout ratio is calculated to be 75% of the company’s underlying NPAT from continuing operations. This is within the management’s policy to distribute between 70% to 100% of Aurizon’s profits.

Aurizon share price summary

Despite moving in circles during recent times, the Aurizon share price has gained almost 6% in 2022.

When looking at the last 12 months, its shares have backtracked to post a loss of around 4%.

Aurizon has a price-to-earnings (P/E) ratio of 9.55 and commands a market capitalisation of roughly $6.08 billion.

The post The Aurizon (ASX:AZJ) dividend is being paid today. Here’s what you need to know appeared first on The Motley Fool Australia.

More reading

• Here’s why Aurizon (ASX:AZJ) shares will soon be booted from this exclusive club

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 Aurizon Holdings 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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ASX shares with annual turnovers of less than $50 million will receive a handy development windfall under the 2022 federal budget.

That windfall will come in the form of tax breaks involving digital investments.

The benefits aren’t limited to ASX shares. Smaller private companies will also be eligible.

Small-cap ASX shares underperforming in 2022

The proposed tax breaks will come as good news for investors in most small-cap ASX shares, many of which have been struggling in the new year.

Longer-term, the smaller end of the listed market has performed very strongly.

For example, over the past five years, the S&P/ASX Small Ordinaries Index (ASX: XSO) has gained 41%. That’s well ahead of the 28% gain posted by the S&P/ASX 200 Index (ASX: XJO) over that same period.

If you’re not familiar, the Small Ords includes all the stocks in the S&P/ASX 300 Index, while excluding those in the S&P/ASX 100 Index.

However, in 2022 the Small Ords has struggled. The index of small-cap ASX shares is down 7% this calendar year, compared to a year-to-date loss of 1% on the ASX 200.

Which brings us back to the pending tax relief.

The ‘Technology Investment Boost’

Mark Chapman is the director of tax communications at H&R Block Australia.

Commenting on the tax implications for smaller businesses, including small-cap ASX shares, he said, “There are two key measures for small business in this budget but no word as to whether the ‘Temporary Full Expensing’ tax break – which benefits almost all businesses with the instant write off of capital purchases – will be extended beyond 30 June 2023.”

Chapman highlighted the potential significance of the government’s ‘Technology Investment Boost’:

The main headline grabber is the ‘Technology Investment Boost’, which gives businesses with an annual turnover of less than $50 million the ability to deduct an extra 20% of the cost of expenses that support their digital uptake.

Businesses will be able to claim the additional deduction on up to $100,000 of expenditure a year.

And there’s another benefit for small-cap ASX shares in the budget as well.

“In addition, there will be a similar tax break for small business that fund digital training and upskilling for staff,” Chapman said. “The ‘Skills and Training Boost’ gives a small business that spends $100 on training employees a $120 tax deduction.”

The post Federal budget delivers development windfall for small-cap ASX shares: expert appeared first on The Motley Fool Australia.

More reading

• ASX 200 (ASX:XJO) midday update: Telstra CEO steps down, Fortescue confirms E.ON deal
• Rivian stock soared today — is it a buy?
• The Aurizon (ASX:AZJ) dividend is being paid today. Here’s what you need to know
• What was the highest ever BHP share price?
• Latin Resources (ASX:LRS) share price shoots 28% higher on potential ‘major new lithium discovery’

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 BHP Group Ltd (ASX: BHP) share price now dominates the S&P/ASX 200 Index (ASX: XJO) in a way that it hasn’t for years. For one, BHP is now the largest ASX share on the ASX 200 index, and by quite a distance too. Its unification program, which saw the end of the London dual-listing, has boosted BHP’s presence on the ASX to unprecedented heights. Today, the ‘Big Australian’ makes up more than 11% of the entire weighting of the ASX 200, well eclipsing the Commonwealth Bank of Australia (ASX: CBA). 

But BHP has also attracted attention in other ways recently. Namely by share price appreciation. This company has enjoyed a very pleasing share price performance over the past few years. Back in March 2017, BHP shares were asking under $25 each. Today, the miner is going for $50.46 at the time of writing. That’s a five-year gain of just under 110%. Not bad for an old blue-chip share like BHP. 

But when was BHP’s last all-time high, when the BHP share price was at its highest ever? Well, it wasn’t that long ago. 

What is BHP’s highest ever share price?

It was only back in early August last year that BHP printed its current all-time high. Back then, we saw the mining giant hit a record $54.55 a share, the highest BHP has ever traded at. That’s only 7.5% above where we see the company today. 

It’s been a dramatic year for BHP shares. Not only have we seen this record share price in the past year, but the last 12 months have also seen BHP payout its largest dividends of all time. BHP’s last two dividends total a whopping $4.82 per share, giving the miner a trailing dividend yield of 9.5% (or a mind-bending 13.57% grossed-up with full franking) at the current share price. 

Investors can largely thank the incredibly strong commodities market we have seen recently for these share price gains and dividends.

Who knows what the future will bring next for the Big Australian. But it has certainly been a year to remember for shareholders.

At the current BHP share price, this ASX 200 mining giant has a market capitalisation of $256.25 billion. 

The post What was the highest ever BHP share price? appeared first on The Motley Fool Australia.

More reading

• Why international investors are flocking to ASX shares right now
• 2 ASX shares to guide you through a turbulent 2022: expert
• What is the outlook for ASX 200 mining shares in April?
• The BHP dividend is being paid today. Here’s what you need to know
• Here are 2 ASX 50 dividend shares analysts rate as buys

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 Latin Resources Ltd (ASX: LRS) share price has been a very strong performer on Wednesday morning.

At one stage, the Latin America-focused lithium explorer’s shares were up as much as 28% to a 52-week high of 9.7 cents.

The Latin Resources share price has since pulled back but remains up 18% to 9 cents at the time of writing.

Why is the Latin Resources share price rocketing higher?

Investors have been bidding the Latin Resources share price higher today following the release of a drilling update.

According to the release, the first assay results from drilling at the Salinas Lithium Project in Brazil have confirmed spodumene rich pegmatites that contain high-grade lithium, with a peak grade of 3.22% Li2O returned from one sample.

Management notes that these positive assay results are supporting its view that there’s potential for a new, high-grade lithium discovery. Particularly given that the assay results from the sampled pegmatite zones in the first two diamond holes show that the two main logged pegmatites both contain significant lithium.

The company is now looking forward to receiving more assay results in the coming weeks.

Potential ‘major new lithium discovery’

Latin Resources’ managing director, Chris Gale, was very pleased with the drilling results, highlighting that the level of grade is unusually high. He commented:

“These assay results from the first two holes drilled in the South Target area of the Salinas Lithium Project, are extremely pleasing, confirming that the intersected pegmatites contain significant high-grade lithium. These results continue to give us confidence that we may be onto a potentially major new lithium discovery in one of the best mining jurisdictions in the world.

Lithium grades over two percent are not common, with most operations in Australia running between one to one and a half percent lithium. Our pegmatite Peg_2 is running grades of around two percent lithium, with a peak of over three percent over one meter, which are very high.

The team on the ground will now focus the drilling on these much thicker pegmatites to the south to infill our existing sections and extend our drill coverage to the southwest where the pegmatites remain open. These assay results are only for the first two holes, we have another four holes that had thicker intersections with abundant spodumene as well. We are eagerly awaiting further assay results for these holes, which we expect to come through over the next few weeks.”

The post Latin Resources (ASX:LRS) share price shoots 28% higher on potential ‘major new lithium discovery’ appeared first on The Motley Fool Australia.

More reading

• What was the highest ever BHP share price?
• What’s the outlook for the NAB (ASX:NAB) share price in April?
• Could the Zip share price turn over a new leaf in April?
• Twiggy has been quietly buying up 8% of this ASX-listed company. Why?
• Why is the Piedmont Lithium (ASX:PLL) share price storming higher 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. 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 National Australia Bank Ltd (ASX: NAB) share price has had a stellar March, so can this dream run continue?

The banking giant’s shares have surged 12% in a month. At the time of writing, NAB shares are trading at $32.38, up 0.87%. The S&P/ASX 200 Index (ASX: XJO) is also climbing 0.64%.

Let’s take a look at the outlook for the NAB share price?

Where is the NAB share price heading?

NAB has received positive broker sentiment in recent times. The team at Bell Potter has upgraded the price target on the bank’s shares to $34.50 and maintained a buy rating. The broker estimates NAB’s cash earnings to increase by 3% from FY25 due to higher net interest income and “even higher other banking income”.

Bell Potter is also predicting attractive dividend yields in coming years. The broker believes NAB will pay a dividend of 137 cents per share in FY22 and 135 cents in FY23.

Additionally, last night’s Federal budget could be a positive for banks, according to the team at Switzer. The budget includes a $420 tax cut for 10 million low- and middle-income workers and a $250 handout to pensioners and concession card holders.

Commenting in a video on NABtrade, Peter Switzer said:

If you’ve got a strong spending consumer, it’s going to be good for our banks as well. So the momentum we’ve seen in the banks in recent times will also be helped by this budget.

NAB also recently announced a $2.5 billion buyback. The company is planning another buyback after the company releases half-year results on 5 May, as my Foolish colleague Aaron reported.

NAB share price snapshot

NAB shares have rocketed 25% in the past 12 months, gaining 12% year to date.

For perspective, the benchmark ASX index has surged 11% in the past year.

NAB has a market capitalisation of $104.2 billion based on its current share price.

The post What’s the outlook for the NAB (ASX:NAB) share price in April? appeared first on The Motley Fool Australia.

More reading

• Worried about how the federal budget might impact your ASX shares? Here’s what Goldman says
• Why has the NAB share price surged 10% in the past month?
• Here are 2 ASX 50 dividend shares analysts rate as buys
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