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The All Ordinaries Index (ASX: XAO) is in the red in early afternoon trade trade, down 0.42%.

But not all stocks are sliding.

Below we look at 3 tiny ASX mining shares bucking the wider selling pressure today to post some outsized gains.

ASX investors reward “spectacular” copper intersections

First up is ASX resource minnow Tennant Minerals Ltd (ASX: TMS), with a market cap of around $29 million.

The ASX mining share entered a trading halt after market close on Thursday and came roaring back today after reporting “spectacular copper intersections” at its Bluebird Prospect in the Northern Territory.

Commenting on the drill results, Tennant Minerals chairman, Matthew Driscoll said:

BBDD0009 is the first hole drilled to test the Bluebird copper-gold zone below previous drilling, and to return a 50-metre intersection of high-grade copper with gold, that approximates true-width, is a spectacular result.

The Tenant Minerals share price, up more than 55% in earlier trade, is currently up 41% for the day.

ASX mining share leaps higher on copper gold intersections

The next ASX mining share heading higher today is Stavely Minerals Ltd (ASX: SVY), with a market cap more than $104 million.

The Stavely share price took off after the explorer reported “outstanding new results” from drilling at its Cayley  Lode deposit within its 100%‐owned Stavely Copper‐Gold Project in Victoria.

Those intersections include up to 19.65% copper, 8.29g/t of gold and 202g/t of silver.

Commenting on the drilling results, Stavely Minerals managing director, Chris Cairns said:

The intersection of 92.1m of inter‐fingered sulphide mineralisation may well be the longest down‐hole intersection of mineralisation recorded at the Cayley Lode to date. The significance is that, if follow‐up drilling is able to confirm the continuity of these types of widths of mineralisation along strike and up/down‐dip, there is significant capacity for these intersections to contribute material additions to the upcoming Mineral Resource Estimate.

The Stavely Minerals share price soared more than 16% higher on the news and is currently up 10% for the day.

More strong results from this ASX mining share

Not to be outdone, Estrella Resources Ltd (ASX: ESR), with a market cap of around $40 million, reported spectacular massive sulphide assay results from its 100% owned Carr Boyd Nickel and Copper Project in Western Australia.

Commenting on those assays, Estrella managing director, Chris Daws said:

The Carr Boyd project continues to produce some exceptional results, with numerous intersections of massive nickel sulphide and some very high nickel and copper assays associated with these drill hits…

The high-grade results received from hole CBDD064 beneath the historic Carr Boyd mine not only sees our geological model intact but also bolsters our confidence to unlock further massive nickel sulphides.

The ASX mining share leapt 40% in early trade. At time of writing, the Estrella share price is up 22% for the day.

The post 3 tiny ASX mining shares soaring from new discoveries appeared first on The Motley Fool Australia.

More reading

• Tennant Minerals (ASX:TMS) share price explodes 39% on ‘spectacular’ find

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

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Shares in hearing technology player Cochlear Limited (ASX: COH) are edging ahead today and, at the time of writing, are 0.46% in the green at $215.44 apiece.

Unlike many of its S&P ASX 200 Index (ASX: XJO) peers, the Cochlear share price has held gains across the last 12 months and into the new year. This year to date, Cochlear shares are flat whereas, in the previous year, they climbed 8%.

Despite their positive momentum on the chart, one broker isn’t so rosy on the outlook for Cochlear shares in 2022, urging its clients to either sell or downsize their positions.

Why does this broker say sell Cochlear shares?

Analysts at RBC Capital Markets are cautious about the hearing specialist given the company’s slowing sales growth and questionable valuation.

The broker initiated coverage on the Cochlear share price and anticipates it to underperform in 2022. It notes its revenue growth has fallen off, alongside other growth metrics in recent times.

This means Cochlear no longer commands the valuation premium it once did, seeing as cash flows into the future don’t appear to be as large as first thought.

Not only that, but the seniors market for hearing technology is becoming more saturated, meaning Cochlear runs the risk of losing market share to competitors in that space, RBC says.

RBC values the company at a significantly discounted $149 per share, suggesting a downside potential of 31% at the time of writing.

It’s not all downbeat – one broker upgrades to neutral

Meanwhile, analysts at fellow broker Morgan Stanley note that Cochlear’s annual guidance looks to be a bit soft, even amid the weakening sales outlook.

The broker reckons Cochlear will offset the tightening sales through service and upgrade revenue which it feels will continue to hold strong in FY22.

For reference, Cochlear grew services revenue by 21% year on year and acoustics sales were 40% higher from the same time last year.

Given its healthy assessment on the stock, Morgan Stanley upgraded its rating to equal-weight from underweight to reflect the more positive sentiment.

It values Cochlear at $208 per share after raising its price target by 16% in a recent note.

The consensus price target for Cochlear is $221 per share, according to Bloomberg Intelligence, meaning the sentiment is still bullish from the 21 analysts covering the stock.

In fact, 42.1% have it as a buy, another 42.1% have it as a hold right now, with the remaining 15.8% advocating to sell Cochlear shares.

The post Why does this broker say to sell Cochlear (ASX:COH) shares in 2022? appeared first on The Motley Fool Australia.

More reading

• Morgans just upgraded these ASX shares to buys
• These were the best performing ASX 200 shares last week
• Top brokers name 3 ASX shares to buy today
• ‘Clear leader in a defensive industry’: Cochlear (ASX:COH) share price jumps on broker upgrade
• Here are the top 10 ASX shares 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. owns and has recommended Cochlear Ltd. The Motley Fool Australia has recommended Cochlear 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 Calidus Resources Ltd (ASX: CAI) share price is racing higher today, up 5.06% to 83 cents at the time of writing.

Investors are responding well to a company announcement from Calidus today regarding a discovery by its 50%-owned subsidiary, Pirra Lithium.

Pirra Lithium, owned equally by Calidus and Haoma Mining NL, was formed last month to explore potential lithium assets over the Pilbara region of Western Australia. The Calidus share price has taken off since late 2021, as shown below.

Why is the Calidus share price tracing higher?

The company entered a trading halt on Monday pending an announcement about its lithium exploration results. Today, it emerged from the trading halt with the news that has sent the Calidus share price soaring.

The company advised the team at Pirra Lithium has identified a “substantial lithium-bearing pegmatite with a mapped strike length of more than 1km” in the Eastern Pilbara.

It collected 34 rock-chip samples and assay results show 0.66%-2.34% lithium oxide (Li2O). Two samples of “metasomatised country rock adjacent to the pegmatite” yielded 2.78% and 2.91% Li2O, respectively.

“Along each traverse, samples were collected 3-12m apart to ensure that all the main components of the pegmatite, including lepidolite- and spodumene-poor zones, were sampled,” the company said.

With lithium prices up 600% year-on-year to all-time highs, even a whisper of potential lithium discovery has seen ASX lithium players shoot higher in recent times.

Lithium spot has gained 29% in the past month for instance, and is up 77% this year to date alone.

Following its latest findings, Calidus has planned an initial 2,500-metre reverse circulation (RC) drilling program to further test the pegmatite.

After initial discoveries, the company says it identified another possible separate body north-east of this location. As a result, an additional 40 rock-chip samples were collected and have been sent to the laboratory for priority assay.

Calidus also notes it has made applications for Programs of Work (PoW) and lodged heritage surveys to facilitate drilling, “targeting the June quarter of 2022”.

Management commentary

Speaking on the results fuelling the Calidus share price today, managing director Dave Reeves said:

It is already clear that we are in the early stages of an exciting lithium discovery with both scale and strong grades. There is a compelling business case to accelerate exploration now we have confirmed lithium grades for this significant outcropping pegmatite.

Despite the pegmatite being located close to the Hillside – Marble Bar Road, there is no record of geological mapping or sampling in the area and the area has never been drilled. These results highlight the immense prospectivity of the large tenement package and rights owned by Pirra Lithium.

Calidus share price snapshot

The Calidus share price has soared more than 101% over the past 12 months and 32% this year to date.

During the past month, its shares prices have shot north by 26%. As a result, Calidus is front-running the broader indexes this year by a country mile.

The post Calidus Resources (ASX:CAI) share price leaps 5% on ‘significant’ find appeared first on The Motley Fool Australia.

More reading

• 3 ASX junior gold mining shares going gangbusters in 2022

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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It has been another disappointing day for the Zip Co Ltd (ASX: Z1P) share price.

Much to the delight of the short sellers targeting the buy now pay later (BNPL) provider, its shares have fallen a further 5% to a new 52-week low of $1.54.

This means the Zip share price is now down 64% in 2022 and nearing multi-year lows.

When will the Zip share price stop sinking?

That’s the million-dollar question. Unfortunately, opinion is largely divided on where the Zip share price is going next, but clearly the bears are in control.

Among those bears are the team at UBS. In December, the broker actually upgraded the company’s shares to a neutral rating with a $5.20 price target.

At that point, it felt the risk/reward on offer with its shares was reasonably attractive following a bout of share price weakness.

However, less than three months later, the broker has had a change of heart and last week downgraded Zip’s shares to a sell rating and cut the price target on them by approximately 80% to just $1.00. This is the lowest price target the broker has ever had on the company and implies further potential downside of 35%.

For context, the Zip share price has not traded at that level since 2018. Since then, the company has gained a foothold in the massive US market through the successful acquisition of the QuadPay business and expanded across Europe and Asia. However, despite these developments its valuation is crumbling before our eyes. How sentiment has changed in the sector!

Why is it a sell?

UBS downgraded Zip’s shares for a number of reasons. One was its disappointing half year result, which revealed a much larger than expected loss. The other reasons include dilution from its capital raising, a higher discount rate as part of its valuation model, delays in reaching profitability, and its uncertain outlook.

One small positive, though, is that the broker suspects that the company’s recent capital raising will be its last for working capital purposes. It appears optimistic that Zip’s cash balance will be sufficient to see it through to profitability.

Though, clearly for UBS, that positive isn’t enough to offset the negatives listed above.

The post Is the Zip (ASX:Z1P) share price heading on a one-way street to $1? appeared first on The Motley Fool Australia.

More reading

• WAM boss urges cashed-up ASX 200 companies to buy, invest or pay dividends
• Glitch! Why are ASX tech shares getting hammered on Monday?
• Why we just sold Zip and bought Pro Medicus (ASX:PME) shares: fundie
• Bargain hunting: Zip (ASX:Z1P) co-founders snap up $1.5 million of shares
• Has Zip (ASX:Z1P) got this key metric wrong in the Sezzle takeover?

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 ZIPCOLTD FPO. 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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While the S&P/ASX 200 Index (ASX: XJO) has struggled to hold ground, the South32 Ltd (ASX: S32) share price has been surging ahead.

The mining outfit shares have zoomed by more than 25% since this time last month. A stark contrast when compared to the benchmark index which has shed around 1% over the same timeframe.

Let’s take a look at what is driving these gains for South32 shares.

South32 benefits from rising commodity prices

Investors have been buying up South32 shares in 2022 as the aluminium price has charged higher in recent times.

The geopolitical tensions between Ukraine and Russia have led to a general lift across the board in commodities prices.

When looking in particular at South32’s main export, aluminium is currently fetching for US$3.85 per kilogram. That represents a gain of 23.38% in the past month, and just 8% off its all-time high of US$4.06 achieved yesterday.

In addition, the company reported a strong performance across key metrics in its FY22 half-year results.

Finishing the period with a net cash of US$975 million, the board opted to considerably bump up its dividend to shareholders.

A fully-franked interim dividend of US 8.7 cents per share was declared, reflecting a massive 621% increase from H1 FY21.

Management noted that the latest dividend equates to a payout ratio of 40% of cash earnings, in line with its dividend policy.

With the South32 share price set to trade ex-dividend on Thursday 10 March, investors might want to jump in.

South32 will pay the interim dividend to eligible shareholders approximately 4 weeks away on 7 April.

It is also worth noting that there is a capital management program that has been active since FY18. This returns excess capital efficiently through an on-market share buyback.

The board further expanded its capital management program by US$110 million to US$2.1 billion, leaving US$302 million to be returned by 2 September 2022.

South32 share price snapshot

It has been a strong 12 months for South32 shares, climbing by more than 80%. In 2022 alone, its share price is up almost by 30%, reflecting positive investor sentiment in the company.

Based on today’s price, South32 presides a market capitalisation of roughly $24.07 billion and has approximately 4.65 billion on issue.

The post Here’s why the South32 (ASX:S32) share price has soared 25% in a month appeared first on The Motley Fool Australia.

More reading

• These were the best performing ASX 200 shares last week
• These 3 ASX 200 shares are topping the volume charts on Wednesday
• 3 ASX All Ords mining shares cracking new 52-week highs today
• Why Core Lithium, MVP, Rio Tinto, and South32 shares are rising today
• ASX 200 (ASX:XJO) midday update: Rio Tinto, South32 storm higher, PointsBet sinks

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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At lunch on Tuesday, the S&P/ASX 200 Index (ASX: XJO) is having a subdued day. The benchmark index is down 0.1% to 7,033.5 points.

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

St Barbara shares rise on takeover speculation

The St Barbara Ltd (ASX: SBM) share price is storming higher today after being tipped as a takeover target. According to the AFR, the beaten down gold miner’s Gwalia underground mine and processing plant is believed to be of interest to nearby gold miners. These include Northern Star Resources Ltd (ASX: NST) and Ramelius Resources Limited (ASX: RMS).

CSL share price higher on TGA news

The CSL Limited (ASX: CSL) share price is pushing higher today. This appears to have been driven by reports that the TGA has approved a super flu jab by its Seqirus business for children as young as two years old. The Flucelvax Quad vaccine was the first cell-based seasonal influenza vaccine offered in Australia when it was first approved in 2021.

Magellan shares rated as a sell

The Magellan Financial Group Ltd (ASX: MFG) share price could still have room to sink further according to analysts at UBS. This morning the broker retained its sell rating and cut its price target down to $13.50. It has concerns over long term structural fund outflows in the retail channel and emerging risks in infrastructure outflows.

Best and worst ASX 200 performers

The best performer on the ASX 200 on Tuesday has been the St Barbara share price with a 7% gain. This follows speculation that it could be a takeover target. The worst performer on the index has been the BlueScope Steel Limited (ASX: BSL) share price with a 6% decline on no news.

The post ASX 200 (ASX:XJO) midday update: CSL and St Barbara charge higher appeared first on The Motley Fool Australia.

More reading

• Here’s why the St Barbara (ASX:SBM) share price is leaping 8% on Tuesday
• 5 things to watch on the ASX 200 on Tuesday
• Here are the top 10 ASX shares today
• WAM boss urges cashed-up ASX 200 companies to buy, invest or pay dividends
• Why is the Fortescue (ASX:FMG) share price having such a stellar start to the week?

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 CSL Ltd. 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 Tennant Minerals Ltd (ASX: TMS) share price is heading for the sky.

The ASX resource minnow closed last Thursday at 4.9 cents before entering a trading halt.

The explorer exited that trading halt today following the announcement of a “spectacular copper intersection” at its Bluebird Prospect in the Northern Territory. The news comes after the price of copper hit a multi-year high last week.

Investors reacted to the news by driving the Tennant Minerals share price to 6.8 cents, up 38.78% for the day at the time of writing. However, it climbed as high as 8.3 cents in early trade, a gain of 69% on its previous close. This comes even as the All Ordinaries Index (ASX: XAO) dips into the red.

What exploration results were announced?

In this morning’s release, the resource explorer reported the results from the first three of five diamond drill holes in a 1,048-metre program within its 100% owned Barkly Project at Bluebird.

The Tennant Minerals share price looks to be getting a big boost from the report that all five of those holes intersected “intense hematite alteration with visible copper mineralisation including malachite and/or chalcocite (copper sulphide), as well as native copper in two deeper step-out holes”.

Tennant said the results from one hole (BBDD009) confirm the entire 50-metre mineralised zone holds “significant” copper and gold mineralisation. It highlighted the following copper-gold, and silver intersections from that drill hole:

— 50.0 metres at 2.70% copper and 0.52 grams per tonne of gold (0.4% Cu cut-off) from 158 metres (downhole)

• including 24.0m @ 5.01% Cu and 1.01 g/t Au (0.8% Cu cut-off) from 159m
• including 5.0m @ 7.28% Cu and 1.29 g/t Au, 291 g/t Ag (5.0% Cu cut-off) from 165m
• including 4.3m @ 14.7% Cu and 3.10 g/t Au (5.0% Cu cut-off) from 176.6m

Commenting on the drill results sending the Tennant Minerals share price rocketing today, chairman Matthew Driscoll said:

BBDD0009 is the first hole drilled to test the Bluebird copper-gold zone below previous drilling, and to return a 50-metre intersection of high-grade copper with gold, that approximates true-width, is a spectacular result.

Adding to the excitement is that like BBDD0009, the remaining two holes of the current diamond drilling program also intersected thick widths of visible copper mineralisation, including native copper.

The results suggest we could be on top of a very exciting copper-gold discovery improving with depth, and we will be accelerating our drilling and exploration programs as a matter of priority to test that potential.

The explorer said it intends to commence follow-up diamond drilling later this month.

Tennant Minerals share price snapshot

With today’s intraday gains factored in, the Tennant Minerals share price is up an impressive 91% so far in 2022. That compares to a year-to-date loss of 6% posted by the All Ords.

The post Tennant Minerals (ASX:TMS) share price explodes 39% on ‘spectacular’ find appeared first on The Motley Fool Australia.

More reading

• ASX 200 (ASX:XJO) midday update: CSL and St Barbara charge higher
• Here’s why the St Barbara (ASX:SBM) share price is leaping 8% on Tuesday
• The price of nickel is soaring and these ASX mining shares are cashing in
• Altium (ASX:ALU) share price hinges on this key detail, top brokers say
• Here’s why the APA (ASX:APA) share price could be a top dividend share

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 St Barbara Ltd (ASX: SBM) share price is taking off today despite only silence from the company.

The gold miner’s gains come as the price of the metal lifts. Perhaps a more compelling explanation for the stock’s surge, however, is the emergence of reports claiming it could be a takeover target.

At the time of writing, the St Barbara share price is $1.53, 7.75% higher than its previous close.

For context, the S&P/ASX 200 Index (ASX: XJO) is down 0.2% right now. Meanwhile, the All Ordinaries Index (ASX: XAO) has slipped 0.4%.

Let’s take a closer look at what might be going on with the gold miner’s stock on Tuesday.

What’s boosting the St Barbara share price today?

St Barbara’s stock is storming higher amid rising gold prices and rumours it could be a takeover target.

Gold futures are up 0.24% on Tuesday morning AEDT, trading at US$2,000.60 an ounce, according to CNBC.

Reports that the St Barbara share price’s sluggish recent performance has placed it in prime takeover territory could also be bolstering the stock’s performance today.

Overnight, the Australian Financial Review (AFR) reported that bankers are looking to the gold miner and its Western Australian assets as a future merger and acquisition target.

The company’s Leonora Operations – housing the Gwalia Gold Mine – could be a shining beacon to other gold producers in the area.

These include Northern Star Resources (ASX: NST) and Ramelius Resources Limited (ASX: RMS), according to the AFR.

However, the publication claims St Barbara’s Simberi Operations – located in Papua New Guinea – might be a dead weight for acquisition talk.

Despite today’s gains, the St Barbara share price is still in the long-term red.

It has fallen 22% over the last 12 months while many of its gold mining peers have recorded gains.

The post Here’s why the St Barbara (ASX:SBM) share price is leaping 8% on Tuesday appeared first on The Motley Fool Australia.

More reading

• 5 things to watch on the ASX 200 on Tuesday
• 5 things to watch on the ASX 200 on Friday
• 5 things to watch on the ASX 200 on Friday
• Why Australian Ethical, Domino’s, Scentre, and St Barbara shares are falling
• Profits down: St Barbara (ASX:SBM) share price slides 5% on half-year results

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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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.”

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ASX mining shares with an interest in nickel are rising today amid a surge in the price of the key commodity. The nickel price is booming on global markets amid supply concerns over the Russian invasion of Ukraine.

Four ASX nickel shares include Nickel Mines Ltd (ASX: NIC), Mincor Resources NL (ASX: MCR), Panoramic Resources Ltd (ASX: PAN), and IGO Ltd (ASX: IGO).

Let’s take a look at how these nickel shares are performing.

Nickel prices explode

The Nickel Mines share price has surged 18% since market close on 24 February. Over the same period, Mincor shares have gained 19%, Panoramic Resources has rocketed 37%, and IGO Resources has soared 24%.

These ASX mining shares are seeing steep climbs amid skyrocketing nickel prices. Nickel rocketed 90% to all-time highs on commodity markets on Monday, according to reports on NABtrade.

The nickel price is surging amid supply concerns due to economic sanctions being imposed on Russia. A report from Reuters, cited by NAB, said:

Russia supplies around 10% of the world’s nickel, and investors fear that Western sanctions against Russia could disrupt air and sea shipments of commodities produced and exported by Russia.

The nickel price hit $55,000 a tonne earlier in the trading session on the London Metal Exchange. At the time of writing, it is up nearly 73% to $50,300 a tonne.

Panoramic recently provided an update on its drilling at the company’s Savannah Nickel Project in Western Australia. Drilling at the mine identified a new zone of semi-massive mineralisation. Commenting on the news, CEO Victor Rajasooriar said:

Pleasingly, in our first hole, we have intersected an unexpected splay which has the potential to add additional metal to our mining inventory

This morning, Mincor Resources released a copy of a company presentation at the Euroz Hartleys Conference on Rottnest Island. Mincor described its Cassini mine as Australia’s “newest high-grade underground nickel operation” on the cusp of production.

The company said demand for clean nickel will rise with the increasing electric vehicle uptake. Mincor presented figures showing annual passenger EV sales could hit 20 million by 2025 and more than 70 million by 2040.

Share price snapshot

The Nickel Mines share price has surged 29% in the past year while Mincor has gained 124%. Panoramic has rocketed 146%, while IGO has shot up 110%.

Year to date, the Nickel Mines share price is up 19%. Meanwhile, Mincor has gained 28%, Panoramic is 20% higher, and IGO has increased by 17%.

For perspective, the benchmark S&P/ASX 200 Index (ASX: XJO) has returned around 5% over the past year.

The post The price of nickel is soaring and these ASX mining shares are cashing in appeared first on The Motley Fool Australia.

More reading

• 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
• 3 ASX mining shares breaking new 52-week highs today
• 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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Shares in Altium Limited (ASX: ALU) are inching higher in early trade on Tuesday and are now changing hands at $3.28 apiece.

After a splendid year on the chart in 2021, the story has been different in the new year for Altium. The ASX tech basket has copped a hammering as growth stocks undergo a 3-month long correction amid shifting yield spreads and a more risk-off environment.

As such, Altium has faltered over 28% since trading recommenced on January 4 and is now sitting at 3-month lows after sliding a further 6% this past month.

One broker is still bullish on Altium however, retaining a long-term view for the company’s outlook. Analysts at Jefferies reckon the growth story hinges on one key detail, and reckon there’s plenty of juice left to squeeze in this case.

Key investments are key for Altium

Analysts at investment bank Jefferies reckon that Altium has a high probability of succeeding in the enterprise market, which could inflect positively on the share price.

Despite mixed results at the company’s first half result, the broker was constructive on management’s language around the need to invest in enterprise and cloud-sales capacity.

It thinks this is sound reasoning and offers an attractive growth story should the company successfully convert on its objectives.

In fact, Jefferies now thinks Altium could well hit its target of US$500 million in sales in FY26 now that the roadmap is clearer post-COVID. It also reckons the stock is fairly priced considering all of this.

The broker rates Altium a buy and values the company at $42.61 per share which implies an upside potential of 32% at the time of writing.

Meanwhile, analysts at rival investment bank Citi are a little more cautious, and also believe investment in the enterprise segment is integral to Altium’s success.

However, Citi also believes this may be more difficult than first expected and may take longer than anticipated, as is often the case.

Not only that, but the firm believes earnings will take a slight hit as Altium ramps up its investment spend, thus eating into profit and investor earnings.

As such, it trimmed its FY22–24 EBITDA forecasts by approximately 3% to adjust for the increased investment spend and higher costs.

Altium share price snapshot

In the last 12 months, the Altium share price has soared. However, since headwinds in 2022, it has levelled off to a gain of 23% in that time, as shown below.

Things have been difficult this year and shares are down 28% this year to date. During the past month of trading, shares have collapsed another 6%.

The post Altium (ASX:ALU) share price hinges on this key detail, top brokers say appeared first on The Motley Fool Australia.

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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 Altium. 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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