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The BlueScope Steel Limited (ASX: BSL) share price share price has fallen more than 8% today, making it one of the worst performers in the S&P/ASX 200 Index (ASX: XJO).

Looking at the overall performance of the ASX, the ASX 200 fell around 0.8% today.

The steelmaker has actually seen its shares fall by 11% this year, so its fall today represented a majority of the decline that it has seen in 2022.

What’s going on with the BlueScope Steel share price?

There was no material news out from the company today.

Interestingly, steel prices have been rising in recent days amid the Russian invasion of Ukraine.

According to reporting by Bloomberg, several large steel producers in Ukraine have closed because of the war. It’s normally a top-five exporter of steel to the EU, so this could cause supplies to tighten further there. Russian steel producers are also facing difficulties to export.

Data from Kallanish Commodities shows that EU steel prices jumped 22% to 1,160 euros a tonne.

However, iron ore prices have also been increasing. Iron ore prices have reportedly reached six-month highs of US$156.

Broker thoughts

UBS has just released a note that acknowledged the increasing costs that BlueScope is facing, which is expected to hurt profitability in FY22 and FY23. But the broker still rates the business as a buy w9th a price target of $25.75 based on a slightly better outlook in the longer-term.

BlueScope share price snapshot and valuation

Based on UBS’ latest estimates, the BlueScope share price is now valued at 8x FY23’s estimated earnings.

The post BlueScope Steel (ASX:BSL) share price sinks 9% appeared first on The Motley Fool Australia.

More reading

• ASX 200 (ASX:XJO) midday update: CSL and St Barbara charge higher
• BlueScope (ASX:BSL) share price tumbles despite ‘best half-year’ ever
• How far off is BHP (ASX:BHP) from producing ‘green steel’?

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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Stand aside Warren Buffet, Carl Icahn, and Peter Lynch. The next generation of famous investors might be women. Today is International Women’s Day 2022, and we’re looking at the women steering funds dominating the ASX benchmark index.

This year’s theme is ‘Break the Bias’. And while the world of finance is often dominated by male voices, it has the potential to be a great equaliser.

The latest ASX Australia Investor Study – published in 2020 – found that of the nine million Australians who invest, 42% are women.

Additionally, women made up 45% of new investors during the COVID-19 pandemic, and 51% of Australians intending to invest.

Another study, conducted in the United States by Fidelity Investments, found 71% of women aged between 25 and 40 invest outside of retirement.

Now, there’s just one more statistic to add – women tend to be better investors than their male counterparts.

Fidelity Investments found female investors, on average, outperform their male counterparts by 0.4%.

Today, for International Women’s Day, let’s celebrate the female fund managers dominating against the ASX benchmark.

International Women’s Day: 3 female fundies bringing impressive returns

Mary Manning – Alphinity Global Equity Fund

As of 31 January 2022, Aphinity’s Global Fund – with Manning at the helm – has brought investors a 12-month return of 32.6%.

For comparison, the S&P/ASX 200 Index (ASX: XJO) gained 5.7% over the 12 months ended 31 January.

Manning is one of five portfolio managers for the Global Fund. She also manages Alphinity’s Global Sustainably Equity Fund.

Emma Fisher – Airlie Funds Management’s Australian Equity Fund

As portfolio manager for Airlie Funds Management’s Australian Equity Fund, Fisher provided investors a 12-month return of 19.3% as of 28 February.

Fisher has managed the $296.9 million fund since 2018, having started her career in equity research eight years earlier.

Catherine Allfrey – WaveStone Capital’s Dynamic Australian Equity Fund

As WaveStone Capital principal and portfolio manager, Allfrey provided Dynamic Australian Equity Fund investors a gross 12-month return of 17.1% as of 31 January.

Allfrey also oversees WaveStone Capital’s Australian Share Fund. It provided a 14.9% gross return in the same time frame – outperforming the S&P/ASX 300 Index (ASX: XKO) by 5.3%.

The post International Women’s Day: 3 female fundies delivering 15%+ gains in a year appeared first on The Motley Fool Australia.

More reading

• How these 2 Aussie fund managers have delivered 30%+ gains in the past year
• Leading brokers name 3 ASX shares to sell today
• Top broker says this ASX share will surge another 17% amid soaring gold prices
• 3 ASX retail shares slumping to 52-week lows today
• Up 17% this month, why the IGO (ASX:IGO) share price can keep gaining: broker

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 past year has certainly not been the easiest for ASX investors. The immense volatility that we’ve seen over 2022 thus far has put a dampener on the reasonably solid returns we saw for ASX shares over 2021. On current pricing, the S&P/ASX 200 Index (ASX: XJO) has given investors a return of approximately 3.1% over the past 12 months. That’s not terrible by any means. But it’s also a figure that isn’t going to light any fires. So to hear that not one, but two ASX fund managers have managed to give investors 30% gains over the past 12 months is certainly something we should be paying attention to.

According to a report in the Australian Financial Review (AFR), the Collins Street Value Fund and the Ausbil Global Resources Fund are two managed funds that have delivered exceptional returns to investors over the past 12 months.

How did they do it? Well, it was reportedly thanks to some well-timed positions in the resources and energy sectors. ASX resources and energy shares have been the talk of the ASX town over the past few weeks. This is especially been the case more recently as global geopolitical crises such as the war in Ukraine crimp supply chains.

We’ve seen oil, gas and coal, as well as gold and copper, take flight in recent weeks. Oil is now at highs we haven’t seen for the best part of a decade.

Oil is black gold for these 30% fund managers

According to the report, the Collins Street Value fund launched a “special situations strategy targeting offshore oil companies” last year. It loaded the boat on Beach Energy Ltd (ASX: BPT) in particular, buying near the company’s “2021 lows”.

The managing director and portfolio manager for Collins Street Value, Michael Goldberg, told the report that investors’ willingness to move away from fossil fuels like oil has “clouded the reality of strong demand and weak supply that have pushed oil, gas and coal prices higher over the past year”. Here’s some more of what he said:

Oil was going to strengthen regardless and now we’re seeing Russia, a major oil producer, triggering uncertainty about output… There’s a massive tailwind and investors who view what we are seeing as a top because of Ukraine are missing the picture of what will happen in the next few decades.

Ausbil Global Resources has also benefitted enormously from hooking the bandwagon to the energy sector. The report notes that the fund’s third-largest holding is the US energy giant Occidental Petroleum Corporation (NYSE: OXY). Occidental shares have rocketed by more than 150% since last October, and by 40% in the past month alone. Ausbil’s Luke Smith told the report that he believes we are entering a “commodities supercycle”.

As of January 31, the Ausbil Global Fund had returned 29.8% over the preceding 12 months. The Collins Street Value Fund has reportedly gained more than 30% since the second half of last year.

The post How these 2 Aussie fund managers have delivered 30%+ gains in the past year appeared first on The Motley Fool Australia.

More reading

• These 3 ASX 200 shares are topping the volume charts on Tuesday
• 15% yield! But are these ASX high-yield shares dividend traps?
• ASX 200 (ASX:XJO) midday update: CSL and St Barbara charge higher
• 5 things to watch on the ASX 200 on Tuesday
• Here are the top 10 ASX shares today

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

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

ASX Ltd (ASX: ASX)

According to a note out of Morgan Stanley, its analysts have retained their underweight rating and $73.70 price target on this stock exchange operator’s shares. This follows the release of the company’s monthly activity report, which reveals that futures volumes are still down materially over the prior corresponding period. In addition, the broker sees risks with the CEO leaving during the CHESS replacement. The ASX share price ended the day at $79.39 on Tuesday.

Blackmores Limited (ASX: BKL)

A note out of Goldman Sachs reveals that its analysts have downgraded this health supplements company’s shares to a sell rating with a $75.20 price target. Goldman was pleased with Blackmores’ performance during the first half but has concerns over its profit outlook. This is due to the company spending heavily to rebuild its brand in existing markets and launch into new markets. The Blackmores share price has now tumbled below this price target and was fetching $74.34 at Tuesday’s close.

Magellan Financial Group Ltd (ASX: MFG)

Analysts at UBS have retained their sell rating and cut their price target on this struggling fund manager’s shares to $13.50. According to the note, the broker believes that Magellan’s shares could still fall further due to fund outflow risks. This is particularly the case for its infrastructure funds, which the broker sees as an emerging risk. This follows a recent underperformance from this side of the business. The Magellan share price was trading at $14.22 on Tuesday afternoon.

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

More reading

• 15% yield! But are these ASX high-yield shares dividend traps?
• Down 31% this year: Top broker tips more pain for Magellan (ASX:MFG) share price
• ASX 200 (ASX:XJO) midday update: CSL and St Barbara charge higher
• Why this broker just downgraded Blackmores (ASX:BKL) shares to a sell rating
• 5 things to watch on the ASX 200 on Monday

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 Blackmores 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 price of gold is soaring and this ASX share is dancing to the same tune, having roared up 22% in a month.

Shares in Gold Road Resources Ltd (ASX: GOR) closed at $1.68 apiece on Tuesday, down 0.88% on the day.

The Gold Road share price has bounced hard from a bottom of $1.31 on 1 February to now trade 28% higher after setting a new 52-week closing high yesterday.

Investors are galvanised behind ASX gold miners, like Gold Road, amid a new rally the precious metal has staged over the past few months. It’s seen the gold price beat past record highs.

As such, one broker is constructive on Gold Road and tips the company to deliver a considerable amount of upside in 2022 should its thesis play out. Let’s take a look.

Can Gold Road Resources surge another 17%?

Analysts at Swiss investment bank UBS are among Gold Road’s latest bullish followers. The broker tips the company is set to deliver its best year on record.

Gold Road, the 50% owner of the Australian Gruyere gold mine, has the capacity to be processing approximately 10 million tonnes of ore each year by mid FY24.

The price of gold has surged to all-time highs of US$1,987 per troy ounce this week, amid geopolitical tensions in Europe and risky undertones feeding into financial markets.

These strengths are set to bode well for the company given its ‘price taker’ status. This means the company’s fortunes are heavily reliant on gold prices quoted in spot and/or futures markets.

Furthermore, the company’s access to higher grades of ore may even see its output rates nudge past 380,000 ounces on an annual basis, UBS says.

This would stretch the company’s earnings profile to new heights and mark a period of substantial growth for Gold Road.

The broker also says this growth could even come with lower operating costs, something that will also help margins stay healthy as production increases.

“This growth comes with almost no additional capex and the increased production rates should keep downward pressure on unit costs,” it remarks.

The price of gold is incredibly important in determining how Gold Road’s share price fares. The two are inextricably linked, just as they are for all ASX gold miners.

The relationship is illustrated by the chart, below:

Valuation also has UBS chomping at the bit in Gold Road’s case, backed by a strong free cash flow conversion and a risk profile that is most likely already baked into the share price.

“Gold Road does present single mine risk and M&A risk,” UBS said, “but it has shown good discipline on the latter and at 4.5x enterprise value-to-EBITDA and more than 9% free cash flow yield.”

“We think this is well [factored into] in the [share] price.”

As a result of its conviction, UBS is heavily bullish on Gold Road, urging its clients to buy the stock and valuing it at $1.94 per share in the process.

According to UBS, Gold Road certainly can climb another 17% to reach its price target.

Gold Road Resources share price summary

In the last 12 months, the Gold Road share price has soared more than 52% and is also up 6.2% this year to date.

During the past month of trading, the company’s shares have shot more than 21% higher.

At its current share price, it has a market capitalisation of $1.4 billion.

The post Top broker says this ASX share will surge another 17% amid soaring gold prices appeared first on The Motley Fool Australia.

More reading

• 3 ASX gold shares rocking new 52-week highs today

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

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The ASX share market continues to be volatile, with the S&P/ASX 200 Index (ASX: XJO) currently down by 0.75%. Some ASX retail shares are suffering.

Whilst the ASX’s resource sector is helping the index, there are some businesses on the ASX that are hitting 52-week lows. Investors are selling off some companies pretty hard.

Each of the below retailers suffered from store closures and other COVID-19 impacts during the first six months of FY22.

These are some of the ASX retail shares that hit 52-week lows:

Super Retail Group Ltd (ASX: SUL)

The Super Retail Group share price was one of the ones that hit a 52-week low earlier today. It’s currently down 1.6% to $9.82.

Super Retail is the parent business of a few different brands including Super Cheap Auto, Rebel, BCF and Macpac.

The ASX retail share recently reported its FY22 half-year result which showed that revenue and profitability went backwards. Headline sales were down 4% to $1.7 billion and normalised net profit after tax (NPAT) fell by 35.8% to $112.8million.

Accent Group Ltd (ASX: AX1)

The Accent Group share price dropped to $1.66 earlier today. However, it’s currently down 1.75% to $1.68.

Accent is a shoe retailing business that sells through a wide range of different stores and brands. Some brands it owns, others it is the distributor for. It’s responsible for these brands: The Athlete’s Foot, Stylerunner, Reebok, Dr Martens, VANS and Skechers.

Like Super Retail, Accent also told shareholders that the first half suffered a significant drop in profit.

Accent reported first-half sales were up 9.7%, boosted by online sales growth. However, the ASX retail share’s earnings before interest and tax (EBIT) dropped by 62.9% to $30.3 million, whilst NPAT fell harder, declining 72% year on year to $14.8 million.

City Chic Collective Ltd (ASX: CCX)

The City Chic share price fell to $3 today. It was another retailer that hit a 52-week low. It’s down 10% at the time of writing.

City Chic is a global retailer of plus-size clothing for women. It also sells footwear and accessories. The ASX retail share has a number of different brands including City Chic, Evans, Avenue, Navabi and more.

In the FY22 first half, City Chic reported that whilst sales revenue jumped 49.8% to $178.3 million, underlying net profit was $14 million, in line with last year, meaning that the profit margin fell.

The post 3 ASX retail shares slumping to 52-week lows today appeared first on The Motley Fool Australia.

More reading

• These ASX 200 shares are being dumped out of the index and replaced with…
• 5 ASX 200 shares slumping to 52-week lows on Friday
• What’s the outlook for ASX retail shares like Kogan (ASX:KGN)?
• Here are 4 ASX shares insiders are putting their money behind
• 2 cheap ASX dividend shares analysts rate as buys

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 Super Retail Group Limited. The Motley Fool Australia owns and has recommended Super Retail Group Limited. The Motley Fool Australia has recommended Accent Group. 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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A message from our CIO, Scott Phillips:

“G’day Fools. If you’re like us, you’re dismayed by the events taking place in Ukraine. It is an unnecessary humanitarian tragedy. Times like these remind us that money is important, but other things are far more valuable. And yet the financial markets remain open, shares are trading, and our readers and members are looking to us for guidance. So, we’ll do our best to continue to serve you, while also hoping for a swift and peaceful end to war in Ukraine.”

—————

The IGO Ltd (ASX: IGO) share price may be surging ahead lately, but one broker thinks it can go even higher.

The company’s shares are currently swapping hands at $12.76, down 1.85% today. However, that’s still a 17% since the close of trading on February 28. In contrast, the S&P/ASX 200 Index (ASX: XJO) is down 0.8% during that same time frame.

However, one broker believes there is still more to come from the nickel miner. Let’s take a look.

Price target lifts

Analysts at Citi have lifted the IGO share price target, a NAB report reveals. The broker has upgraded the company’s price target to $14. That suggests an upside of almost 10% on the current price.

The broker reportedly sees IGO making “hefty margins of 90%” in the first half of FY22.

Nickel prices surged 90% to hit all-time highs in global markets overnight amid supply concerns as a result of Russia’s invasion of Ukraine. Russia provides about 10% of the world’s nickel.

As Motley Fool Australia reported earlier, investors are fearing western sanctions against Russia could disrupt air and sea shipments of the commodity.

Citi predicts nickel prices to rally to US$30,000/tonne in quarter two of FY22, before moderating in quarter three.

IGO owns and operates the Nova nickel, copper, and cobalt mining operation in Western Australia.

Today, IGO updated the market with a copy of a presentation to the Euroz Hartleys Conference. The company stated it can gain leverage from the disruptive transition to clean energy. IGO highlighted its portfolio of “high-quality assets” with exposure to nickel, copper, cobalt, and lithium.

IGO share price snapshot

The IGO share price has soared nearly 100% in the past year and is up 11% year to date.

In the past month, the miner’s shares have gained 6%, while they have risen 17% in the past week.

For perspective, the benchmark ASX 200 index has returned around 4% over the past year.

The post Up 17% this month, why the IGO (ASX:IGO) share price can keep gaining: broker appeared first on The Motley Fool Australia.

More reading

• The price of nickel is soaring and these ASX mining shares are cashing in
• Why IGO, Lake Resources, Talga, and Whitehaven Coal shares are charging higher
• ASX 200 (ASX:XJO) midday update: Corp Travel Management’s ACCC boost, Zip downgraded
• Why IDP, IGO, Sayona Mining, and Yancoal shares are storming higher
• ASX 200 (ASX:XJO) midday update: Zip shares tumble, AUSTRAC takes aim at Crown

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 Bitcoin (CRYPTO: BTC) price has bounced back from a loss to a 2% gain following a strong run over the past few hours.

One Bitcoin is currently worth US$38,626 (AU$52,760), giving the world’s original crypto a market cap of US$740.0 billion.

Despite the rebound, the Bitcoin price remains down 10% over the past 7 days and down 20% year-to-date.

The Ripple (CRYTPO: XRP) price is gaining today too, up 1% since this time yesterday to 72.8 US cents.

XRP, the world’s number 6 crypto with a market cap of US$34.7 billion, remains down 15% for the year. We bring this particular token up for a reason.

If you’re unfamiliar with XRP, the token was created by Ripple Lab as a “digital asset built for global payments”.

According to CoinMarketCap this implies that, “Ripple plans to rival money transfers usually conducted by the banking system. XRP would allow users to send money at a very low cost, attracting the potential interest of retail customers and banks alike.”

Which brings us back to Visa and Mastercard removing their payment services from Russia in response to its invasion of Ukraine. This comes atop the earlier ban of many Russian banks from the global SWIFT service.

With more Russian institutions and individuals locked out of traditional payment systems, will this impact the Bitcoin price and other payment focused cryptos like XRP?

Will Visa and Mastercard’s Russia ban impact the Bitcoin price?

Josh Gilbert, market analyst at multi asset investment platform eToro, sees the potential for an increased demand for cryptos as Russians are locked out from global credit cards. And greater demand could send the Bitcoin price higher.

According to Gilbert:

The latest Visa and Mastercard restrictions will further tighten how Russians are able to access capital, meaning we may well see an increase in demand for cryptoassets. Bitcoin is borderless, so at times like this, citizens can turn to cryptoassets to store and spend their capital.

The restrictions from Swift, Visa and Mastercard could see demand pivot to cryptoassets that specialise in payments, such as XRP, given its ability to instantly and efficiently move money across all corners of the world through its decentralised blockchain.

Emphasising that crypto is not something you just store in a digital wallet hoping the price will go up, Gilbert added:

The last few weeks have highlighted crypto’s real-world use cases, and everyday consumers now understand there is much more to crypto than just an investable asset. This could shepherd in a new era of finance; payments in under a matter of seconds, decentralisation away from corporations or governments, and the provision of finances when traditional methods are not available.

Despite greater clarity surrounding its real-world use cases, the Bitcoin price has yet to lift off in the wake of heavy selling following its November all-time highs.

Can Russia skirt sanctions with crypto?

One of the big concerns with cryptos like Bitcoin and XRP is that the Russian government may use them to do an end run around sanctions imposed by the West.

You’ve probably heard these debates, also linked to organised criminal activity, amongst various politicians and analysts yourself.

But the top brass at global crypto exchange FTX says it will be nigh impossible for Russia to do so on any kind of appreciable scale.

According to FTX president Brett Harrison and CEO Sam Bankman-Fried:

The world’s attention on Russia’s aggressive conflict with Ukraine, combined with the new omnipresence of cryptocurrencies, has created the natural question now being asked in all major media: can cryptocurrency be used by sanctioned parties to avoid US sanctions?

The short answer is: no.

Harrison and Bankman-Fried give a long list of security protocols in place to prevent sanctioned institutions from simply reverting to Bitcoin, XRP or other cryptos over fiat currency.

Among those protocols, they said:

Exchanges that can accept wire transfers as sources of fiat deposits know the identity of the source financial institution, and can therefore detect whether the currency is coming from, for example, a sanctions listed Russian bank, a blacklisted source, or some other problematic funds source.

The post How might Visa and Mastercard’s Russia ban impact the Bitcoin price? appeared first on The Motley Fool Australia.

More reading

• Why the Bitcoin price should surge to US$50,000 in March: expert
• Considering adding crypto to your super? Read this
• More valuable than the rouble: How the Ukraine crisis is now boosting the Bitcoin price
• Is Bitcoin or gold a better buy for these uncertain times?
• How might the Ukraine crisis impact the Ethereum price?

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Bitcoin. The Motley Fool Australia owns and has recommended Bitcoin. 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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What a roller-coaster ride it has been this year for the Lynas Rare Earths Ltd (ASX: LYC) share price.

After starting the year flat, shares in the world’s second-largest producer of rare earths tumbled in late January.

However, this was short-lived with a quick rebound in late February following the company’s release of its interim results.

Last week, Lynas shares climbed by more than 10%, hitting a 1-month high of $11.21.

Nonetheless, investors headed for the exits sending the share price down 10% this week alone.

At the time of writing, Lynas shares are swapping hands for $9.64 apiece, a loss of 3.64% for today.

Why is the Lynas share price so volatile?

While the company’s reported an outstanding financial scorecard for the first-half of FY22, investors have been looking to cash in.

This is because Lynas produces Neodymium-Praseodymium (NdPr) which is a magnetic rare earth alloys used in many modern technologies.

The price of NdPr has mostly soared in the past few weeks as Western countries try to limit China’s rare earths dominance.

Lynas is considered to be the world’s second largest producer of NdPr, behind the Asian giant. The latter accounted for 60% of the global production of rare earths last year.

In case you were wondering, rare earths are a group of 17 metals that are critical to the manufacturing of many electronic products. These include mobile smartphones, electric vehicles, aircraft engines, wind turbines, and even military equipment.

With geopolitical tensions rising between the West and Russia, and China sidelined for now, the supply of rare earths could not be more important.

Lynas is seeking to disrupt China’s supply of rare earths and become a vital company for advanced economies.

However, for this to happen, the company will need to increase production output significantly.

In the six months ending 31 December, Lynas was marred with shipping delays that impacted NdPr production. Output fell to 2,614 tonnes compared to the 2,709 tonnes achieved in the prior corresponding period.

On a positive note, strong demand for rare earths is reflected in market pricing which led to Lynas achieving a record profit of $156.9 million. This reflected a 286% increase when measured against H1 FY21.

What do the brokers think?

After releasing its half-year results, one broker rated the company with a favourable price point.

Analysts at Macquarie raised its 12-month price target for Lynas shares by 2% to $12.60.

Based on the current share price, this implies a potential upside of more than 30% for investors.

The post Up 10% in one week, down 10% in the next. What’s going on with the Lynas (ASX:LYC) share price? appeared first on The Motley Fool Australia.

More reading

• These were the best performing ASX 200 shares last week
• Why has the Lynas (ASX:LYC) share price rocketed 21% in a week?
• Here are the top 10 ASX shares today
• Lynas (ASX:LYC) share price jumps amid record interim net profit
• The ASX share that the whole world is relying on

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 late afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a disappointing decline. At the time of writing, the benchmark index is down 0.7% to 6,990.5 points.

Four ASX shares that are falling more than most today are listed below. Here’s why they are tumbling lower:

Bapcor Ltd (ASX: BAP)

The Bapcor share price is down 3% to $6.06. This decline appears to have been driven by news that the auto parts retailer’s chief operating officer (COO) is leaving the company. This means that Bapcor has now lost its CEO and its COO in the space of three months.

GQG Partners Inc (ASX: GQG)

The GQG share price is down 6% to $1.17. This fund manager’s shares have been hammered since the release of its latest funds under management (FUM) update on Monday. Although that update revealed that fund inflows continued during February, its overall FUM fell by 1.6% month on month to $89.8 billion.

Smartgroup Corporation Ltd (ASX: SIQ)

The Smartgroup share price is down 8% to $7.71. A good portion of this decline has been driven by the salary packaging company’s shares trading ex-dividend this morning. Eligible shareholders can now look forward to receiving the company’s fully franked 49 cents per share final dividend later this month on 23 March. This includes a special 30 cents per share dividend.

Woodside Petroleum Limited (ASX: WPL)

The Woodside share price is down 4% to $33.08. Investors have been selling this energy producer’s shares after oil prices pulled back from 13-year highs. Despite today’s decline, the Woodside share price is still up a whopping 22% since this time last month. Supply concerns have been propelling oil prices to such high levels.

The post Why Bapcor, GQG, Smartgroup, and Woodside shares are dropping appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia owns and has recommended SMARTGROUP DEF SET. The Motley Fool Australia has recommended Bapcor. 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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