Tag: Motley Fool

Are you looking to make some additions to your portfolio in March? If exchange traded funds (ETFs) are of interest to you, then you might want to look closely at the three listed below.

Here’s why they could be worth researching further this month:

BetaShares Crypto Innovators ETF (ASX: CRYP)

The first ETF to look at is the BetaShares Crypto Innovators ETF. It could be a good option for investors that are interested in the cryptocurrency industry but aren’t too keen on buying coins. That’s because this ETF gives investors exposure to pure-play crypto companies (including crypto exchanges, mining companies, and mining equipment providers), those whose balance sheets are held at least 75% in crypto-assets, and diversified companies with crypto-focused business lines. Among its holdings you’ll find Coinbase, PayPal, Riot Blockchain, Robinhood, Silvergate, and Square/Block.

BetaShares Global Cybersecurity ETF (ASX: HACK)

A second ETF for investors to look at is the BetaShares Global Cybersecurity ETF. This fund provides investors with the opportunity to invest in the growing cybersecurity sector. This means you’ll be buying companies such as Accenture, Cisco, Cloudflare, Fortinet, Okta, Splunk, Zscaler, Crowdstrike. With more businesses moving to the cloud and the threat of cyberattacks growing globally, these companies look well-placed to benefit from increasing demand for cybersecurity services.

Vanguard MSCI Index International Shares ETF (ASX: VGS)

A final ETF for investors to look at is the Vanguard MSCI Index International Shares ETF. This ETF provides investors with exposure to ~1,500 of the world’s largest listed companies. Among the many companies that you’ll be investing in are giants such as Amazon, Apple, Johnson & Johnson, JP Morgan, Nestle, Procter & Gamble, and Visa. Given the sheer range of shares included in the fund, it could be a good way to add some diversification to a portfolio.

The post 3 exciting ETFs for ASX investors in March appeared first on The Motley Fool Australia.

More reading

• 2 compelling ASX shares expecting big growth this decade
• Check out these ETFs in March
• Why is this leading ASX ETF suddenly in the spotlight?
• 2 exciting tech ETFs for your watchlist
• 2 intriguing ETFs for ASX investors to watch

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 BETA CYBER ETF UNITS, Betashares Crypto Innovators ETF, and Vanguard MSCI Index International Shares ETF. The Motley Fool Australia owns and has recommended BETA CYBER ETF UNITS. The Motley Fool Australia has recommended Vanguard MSCI Index International Shares ETF. 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 OZ Minerals Ltd (ASX: OZL) share price has been on fire the past few days amid surging commodity prices.

The company’s shares have rocketed 10.98% since market close on 1 March. Today, Oz Minerals shares gained 4.34%. For perspective, the  S&P/ASX 200 Index (ASX: XJO) fell 1.02% today.

Let’s take a look at what is happening with Oz Minerals shares.

Why is the Oz Minerals share price going up?

It seems investors are optimistic about the Oz Minerals share price in response to a boost in copper and gold prices.

Copper soared to an all-time high in the US overnight amid the Ukraine crisis, Bloomberg reported. The copper price has hiked nearly 9% since market close on 1 March. Meanwhile, gold prices have climbed more than 2% in the same time frame, Trading Economics data reveals.

Oz Minerals explores copper, gold, and other metals. The company owns the Prominent Hill and Carrapateena mines in South Australia, along with the Carajás East Hub in Brazil.

In its full-year financial results, released on 21 February, Oz Minerals reported a 56% increase in revenue to $2,095.8 million. Management advised this revenue surge was driven by higher sales volumes and the increasing copper and gold prices. Net profit also rose 150% to $531 million.

Commenting on the results, Oz Minerals managing director and CEO Andrew Cole said:

These results were delivered notwithstanding a more difficult final quarter impacted by COVID related absenteeism which has continued into 2022.

When combined with an extreme rain event that affected our South Australian logistics, we are likely to see a slower start to 2022 production, building back in line with full year guidance as the year progresses.

The company will pay a dividend of 18 cents per share on 11 March.

Oz Minerals share price snapshot

The Oz Minerals share price has surged nearly 30% over the past year but has fallen 2% year to date.

In the past month, Oz Mineral shares have gained 11.49%, 11% of that in the past week alone.

For perspective, the benchmark ASX 200 has returned nearly 5% in the past year.

Oz Minerals has a market capitalisation of about $9.2 billion based on its current share price.

The post Why has the Oz Minerals (ASX:OZL) share price surged 11% in 4 days? appeared first on The Motley Fool Australia.

More reading

• OZ Minerals (ASX:OZL) share price falls despite 150% profit increase in FY21
• Record exploration: Are ASX 200 shares gearing up for the next mining boom?

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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Could the Westpac Banking Corp (ASX: WBC) share price be a smart idea for dividends?

There are plenty of different banking options on the ASX for investors to choose between such as the major banks like Commonwealth Bank of Australia (ASX: CBA), Australia and New Zealand Banking Group Ltd (ASX: ANZ).

Smaller banks are also possibilities, such as Bank of Queensland Limited (ASX: BOQ), Bendigo and Adelaide Bank Ltd (ASX: BEN), Suncorp Group Ltd (ASX: SUN) and Mystate Ltd (ASX: MYS).

How is the Westpac share price going?

Before this latest volatility amid the Russian invasion of Ukraine, Westpac shares were staging a recovery. Between 31 January 2022 and 21 February 2022, the Westpac share price had climbed 17.5%. However, since then it has fallen almost 9%.

It’s not alone, the other big four ASX banks have also dropped in recent weeks.

Is it a good opportunity today?

The broker UBS certainly seems to think so.

It recently increased its price target of the Westpac share price to $27, suggesting a possible upside of more than 20%. A driver of this decision is the fact that the banks can keep generating good profits during these uncertain times, whilst experiencing an uplift in the net interest margin (NIM) after recent loan rate hikes.

For UBS, Westpac is the pick of the bunch.

However, Credit Suisse is not so sure. This broker is only ‘neutral’ on the business with a Westpac share price target of $23 – which still suggests a single-digit rise over the next 12 months. After seeing Westpac’s quarterly update, Credit Suisse is expecting the FY22 NIM to fall because of competition.

In that first quarter to 31 December 2021, Westpac announced that it made cash earnings of $1.58 billion. This was up 74% compared to the quarterly average of the second half of FY21.

However, after excluding ‘notable’ items the cash profit only went up 1%. There was an impairment charge of $118 million, mostly from an increased provision reflecting continuing COVID-19 uncertainty.  The NIM was 1.91%, down 8 basis points due to competition and higher liquid assets.

What about the Westpac dividend?

The big four ASX bank doesn’t announce quarterly dividends. The next dividend announcement will probably be with the half-year result in a couple of months.

UBS is expecting Westpac to pay a dividend that equates to a grossed-up dividend yield of 8.5% in FY22.

However, Credit Suisse is only expecting a grossed-up dividend yield of 7.4% in FY22 at the current Westpac share price.

The post Is the Westpac (ASX:WBC) share price the best bank idea for dividends? appeared first on The Motley Fool Australia.

More reading

• WAM boss urges cashed-up ASX 200 companies to buy, invest or pay dividends
• Australia’s newest tech unicorn, Zeller, is taking on the ASX banks. Here’s how
• 2 cheap ASX dividend shares analysts rate as buys
• Why did the Westpac (ASX:WBC) share price smash the other banks in February?
• What’s keeping this top broker neutral on Westpac (ASX:WBC) shares?

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 recommended Westpac Banking Corporation. 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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Today was a great day for both the S&P/ASX 200 Resources Index (ASX: XJR) and the S&P/ASX 200 Energy Index (ASX: XEJ), but it was a struggle for the share price of battery materials-focused resource company Vulcan Energy Resources Ltd (ASX: VUL).

The Vulcan share price tumbled 6.17% to $8.52 on Monday.

For context, both the S&P/ASX 200 Index (ASX: XJO) and the All Ordinaries Index (ASX: XAO) ended today’s session in the red, each slipping 1%.

Vulcan Energy’s fall came despite silence from the company. In fact, the market hasn’t heard price-sensitive news from it in nearly three weeks.

Let’s take a closer look at what could have weighed on the lithium explorer’s stock on Monday.

What dragged on the Vulcan Energy share price today?

The Vulcan Energy share price ended today in the red, having handed back its recent gains.

The lithium explorer’s stock gained 5.7% over the course of last week. Thus, today’s movement could be a simple market correction.

While the Vulcan share price has been on a rollercoaster ride over the last six weeks, it’s still relatively flat with where it was in late January.

The last time the market heard price-sensitive news from the S&P/ASX 300 Index (ASX: XKO) company was 15 February. Then, Vulcan Energy announced it was floating on the Frankfurt Stock Exchange.

As The Motley Fool Australia reported at the time, that makes it the first company to be dual-listed on both the ASX and the regulated market of the FSE.

As of Monday’s close, the Vulcan Energy share price is around 18% lower than it was at the start of 2022.

However, it’s still 42% higher than it was this time last year.

The post Why did the Vulcan Energy (ASX:VUL) share price plunge 6% on Monday? appeared first on The Motley Fool Australia.

More reading

• How have Vulcan Energy (ASX:VUL) shares been faring since their dual listing?
• Why is the Vulcan (ASX:VUL) share price charging higher today?
• 2 ASX lithium shares with huge upside potential in 2022
• Vulcan Energy (ASX:VUL) shares could be set for a dual listing. Here’s what you should know
• Lithium boom! Broker says the Vulcan (ASX:VUL) share price has 175% upside

Motley Fool contributor Brooke Cooper owns Vulcan Energy Resources Limited. 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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Today, the S&P/ASX 200 Index (ASX: XJO) was a bleak site as investors brace for additional Russian sanctions. At the end of the session, the benchmark index finished 1.02% lower at 7,038.6 points.

In an abrasive start to the week, the Aussie market showed little in the way of optimism with nine of the 11 sectors closing lower. The pain was mostly felt by the tech sector as investors decided to continue their shift out of risk-on investments.

Fortunately, the energy corner of the index thrived under the conditions, as concerns of a constrained oil supply mount. From this, share prices across oil, gas, and coal companies were bid higher.

However, the question is: which shares managed to stay in the green on the ASX today? Here are the top ten stocks that pulled through for investors:

Top 10 ASX shares countdown today

Looking at the top 200 listed companies, Coronado Global Resources Inc (ASX: CRN) was the biggest gainer today. Shares in the metallurgical coal producer surged 12.26% following another new record high coal price of US$430 per tonne being set. Find out more about Coronado Global Resources here.

The next biggest gaining ASX share today was Woodside Petroleum Ltd (ASX: WPL). The oil and gas giant set yet another 52-week high today amid the growing energy crisis. Shares in the company rallied 9.52% to cement their place at a market cap of more than $33 billion. Uncover the latest Woodside Petroleum details here.

Today’s top 10 biggest gains were made in these ASX shares:

ASX-listed company	Share price	Price change
Coronado Global Resources Inc (ASX: CRN)	$2.06	12.26%
Woodside Petroleum Ltd (ASX: WPL)	$34.41	9.52%
Zimplats Holdings Ltd (ASX: ZIM)	$28.27	7.08%
IGO Ltd (ASX: IGO)	$13.00	6.73%
Beach Energy Ltd (ASX: BPT)	$1.77	6.31%
Northern Star Resources Ltd (ASX: NST)	$10.74	6.13%
Incitec Pivot Ltd (ASX: IPL)	$3.46	5.49%
Santos Ltd (ASX: STO)	$8.17	5.28%
Newcrest Mining Ltd (ASX: NCM)	$27.37	5.19%
Whitehaven Coal Ltd (ASX: WHC)	$4.18	4.76%

Our top 10 ASX shares today countdown is a recurring end-of-day summary to ensure you know which companies were making big moves on the day. Check-in at Fool.com.au after the market has closed during weekdays to see which stocks make the countdown.

The post Here are the top 10 ASX shares today appeared first on The Motley Fool Australia.

More reading

• 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?
• Woodside (ASX:WPL) share price surges another 9% today as oil resumes rally
• These 3 ASX 200 shares are topping the volume charts this Monday
• Glitch! Why are ASX tech shares getting hammered on Monday?

Motley Fool contributor Mitchell Lawler 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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As the market continues its shakeup in 2022, shares in Lovisa Holdings Ltd (ASX: LOV) fell hard on Monday and finished 9.79% in the red at $17.70 apiece.

Shares in the $1.9 billion company by market cap have taken a downward turn in 2022, now 12% lower since trading recommenced on January 4.

Lovisa share price is struggling amid sector weakness

The fashion jewellery retailer is feeling the squeeze on retail shares that set in as soon as trade restarted in January.

The S&P/ASX 300 Retailing index (AXRTKD) has fallen 17% from its former highs on 4 January and has shown no signs of reversal, even with a small bounce last month.

It is now trading at its lowest levels in more than a year. At the same time, many ASX retail shares in the consumer cyclical and consumer discretionary sectors are taking similar hits in 2022.

Lovisa isn’t immune to the headwinds and investors have sold off their positions after the stock jumped to its previous closing high of $20.43 on 1 March.

It seems not even an 85% jump in the company’s dividend to 37 cents a share, announced in its earnings results last month, was enough to keep investors on board today.

Lovisa is now trading on a respectable 1.94% trailing dividend yield following the sharp pullback in its share price.

Don’t worry, it’s not all downbeat

Yet it seems not everyone is worried about the downturn in the short term. Analysts at Citi reckon Lovisa is one for the future, noting huge growth potential if the company expands globally.

The broker updated its rating to buy from neutral in a recent note to clients

It identified the Chinese market as a key catalyst for Lovisa’s growth, stating this “could represent a $108 million sales and $13 million (11% of FY23 group EBIT) opportunity for Lovisa”.

Citi reckons investors need to hold a long-term view with Lovisa, especially seeing as the company is yet to fully expand internationally.

“The long-term earnings opportunity could be even more significant should Lovisa be able to expand beyond key cities,” analysts said.

It values the costume jewellery player at $21.45 per share after increasing its targets by roughly 4% recently.

Meanwhile, Bell Potter and UBS also raised their valuations on Lovisa to $21.70 and $21 per share respectively. Both brokers are urging their clients to buy Lovisa shares at the current prices.

In fact, the number of analysts advocating to buy Lovisa shares has crept up from 43% this time last year to 73%, according to Bloomberg Intelligence.

This represents a consensus price target of $21.27 per share, an upside potential of 20% at the time of writing.

Lovisa share price snapshot

In the last 12 months, the Lovisa share price has surged more than 25%, however, it has collapsed 12% this year to date.

In the past month of trading, the company’s shares have struggled to remain flat. During the past week alone, they have fallen 11%.

The post Lovisa (ASX: LOV) share price falters 10% but brokers still say buy appeared first on The Motley Fool Australia.

More reading

• Why Morgans rates this ASX lithium share and this retail share as buys
• Top ASX shares to buy in March 2022
• 2 compelling ASX shares that could be buys in March 2022
• Broker says Lovisa (ASX:LOV) could become a ‘global force’
• Brokers name 3 ASX shares to buy 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 recommended Lovisa Holdings 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 Magnis Energy Technologies Ltd (ASX: MNS) share price has had a horror month, falling 18%.

The Magnis share price hovered under the line in today’s trade, finishing the day down 1.16% at 42.5 cents. In comparison, the S&P/ASX 200 Index (ASX: XJO) finished the day down 1.02%.

Let’s take a look at the news sparking joy for Magnis today.

Magnis to join the All Ords ranks

Lithium-ion battery company Magnis will be added to the All Ordinaries Index (ASX: XAO). This news was released after market close on Friday as part of the S&P Dow Indices quarterly rebalance.

Other inclusions to the index include Boss Energy Ltd (ASX: BOE), Galan Lithium Ltd (ASX: GLN), Metals X Limited (ASX: MLX) and Carbon Revolution Ltd (ASX: CBR). The update will take effect prior to the open on 21 March.

On Friday, my Foolish colleague Alice de Bruin reported details of an Australian Securities and Investments Commission (ASIC) investigation into the company’s financial activity.

Recently, Magnis updated the market on the Imperium3 New York (iM3NY) lithium-ion battery plant, of which Magnis is the major shareholder. The project is 57% complete as at the end of January.

Magnis chair Frank Poullas said:

Significant progress continues on all fronts as the project ramps up towards gigawatt hour production. The iM3NY team is working with investors, looking at funding the next stage, above 10GWh of annual production.

Magnis share price snapshot

In the last 12 months the Magnis share price has surged 39%, but is crashing 26% year to date.

In comparison, the benchmark ASX 200 index has climbed nearly 5% in the past year.

Magnis has a market capitalisation of $410.4 million based on the current share price.

The post The Magnis (ASX:MNS) share price has lost 18% in a month, but there was some good news today appeared first on The Motley Fool Australia.

More reading

• The Magnis (ASX:MNS) share price has climbed 5% this week. What’s been happening?

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Carbon Revolution Limited. The Motley Fool Australia has recommended Carbon Revolution 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 founder and boss of Wilson Asset Management, Geoff Wilson, has told S&P/ASX 200 Index (ASX: XJO) companies to put the cash they’re sitting on to good use.

Plenty of businesses have seen strong profit and cash flow since the onset of COVID-19.

However, the pandemic has also caused interest rates to sink to almost 0%, with the Reserve Bank of Australia (RBA) in no rush to raise interest rates back to ‘normal’ levels.

Would it be a good idea for businesses to keep their cash in the bank in this environment? According to reporting by The Age, Geoff Wilson said:

The current return on cash, as anyone who has any cash in the bank knows, is close to zero. They’re better off handing it back to shareholders as fully franked dividends, or investing in their business or buying other businesses.

Big shareholder returns

There have been significant shareholder return announcements over the last year from ASX 200 shares.

For example, each of the big four ASX banks of Commonwealth Bank of Australia (ASX: CBA), National Australia Bank Ltd (ASX: NAB), Australia and New Zealand Banking Group Ltd (ASX: ANZ) and Westpac Banking Corp (ASX: WBC) announced share buy-backs last year.

The mining giants of Rio Tinto Limited (ASX: RIO) and BHP Group Ltd (ASX: BHP) both announced very large dividends in reporting season last month.

Wesfarmers Ltd (ASX: WES) recently completed a $2.3 billion capital return, returning $2 per share.

Acquisitions

There has been plenty of corporate activity by ASX 200 shares in recent months as well.

Buy now, pay later business Zip Co Ltd (ASX: Z1P) has launched a takeover attempt to buy Sezzle Inc (ASX: SZL).

Woodside Petroleum Limited (ASX: WPL) is on course to buy BHP’s petroleum business, though this is an all-share deal.

Telstra Corporation Ltd (ASX: TLS) has bought Digicel Pacific and MedicalDirector.

Sonic Healthcare Ltd (ASX: SHL) has made a number of smaller acquisitions with its COVID testing cash flow.

Hub24 Ltd (ASX: HUB) has acquired SMSF accounting business Class.

Fortescue Metals Group Ltd (ASX: FMG) recently bought the battery business Williams Advanced Engineering.

As you can see, there have been plenty of ASX shares that have decided to go for an acquisition or two.

What are some of the ASX shares that WAM likes right now?

The flagship investment vehicle that Wilson Asset Management runs is the listed investment company (LIC) WAM Capital Limited (ASX: WAM).

Each month, WAM Capital reveals its top 20 holdings. At 31 January 2022, these were some of those top 20 holdings:

Aristocrat Leisure Limited (ASX: ALL), ARB Corporation Limited (ASX: ARB), Brickworks Limited (ASX: BKW), Carsales.com Ltd (ASX: CAR), PEXA Group Ltd (ASX: PXA) and TPG Telecom Ltd (ASX: TPG).

The post WAM boss urges cashed-up ASX 200 companies to buy, invest or pay dividends appeared first on The Motley Fool Australia.

More reading

• 5 ASX 200 shares slipping to 52-week lows today
• Own Rio Tinto (ASX:RIO) shares? Here’s why the miner has been hit with a $750,000 fine
• Why is the Fortescue (ASX:FMG) share price having such a stellar start to the week?
• Top broker says NAB (ASX:NAB) share price has 20% upside. Here’s why
• Woodside (ASX:WPL) share price surges another 9% today as oil resumes rally

Motley Fool contributor Tristan Harrison owns Fortescue Metals Group Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Brickworks, Hub24 Ltd, and ZIPCOLTD FPO. The Motley Fool Australia owns and has recommended Brickworks and Telstra Corporation Limited. The Motley Fool Australia has recommended ARB Corporation Limited, Hub24 Ltd, Sonic Healthcare Limited, TPG Telecom Limited, Westpac Banking Corporation, and carsales.com 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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Monday proved to be a rough day for many listed companies, with the S&P/ASX 200 Index (ASX: XJO) sliding 1.17%.

Unfortunately, the downturn sent some stocks crashing to the lowest they’d been in at least a year.

Here are 5 ASX 200 shares that slumped to new 52-week lows today.

These ASX 200 shares hit new 52-week lows on Monday

Australia and New Zealand Banking Group Ltd (ASX: ANZ)

The ANZ share price was one of the better performers of the S&P/ASX 200 Financial Index (ASX: XFJ) on Monday.

Sadly, that wasn’t enough to save it from hitting its lowest point of the last 12 months.

The bank’s stock slipped 2.5% to $24.65 in intraday trade – a new 52-week low.

That’s 16.8% lower than its 52-week high of $29.64.

REA Group Limited (ASX: REA)

The REA share price also struggled on Monday. At one point it tumbled 4.4% to a new 52-week low of $127.04.

There’s no clear explanation for the company’s suffering today. However, it might have been caught up in the broader tech sell-off.

While not technically a tech share, REA operates real estate advertising websites and often gets lumped in with the technology sector.

The S&P/ASX 200 Info Tech Index (ASX: XIJ) plunged 4.6% on Monday. Meanwhile, the S&P/ASX All Technology Index (ASX: XTX) slid 4.1% lower.

Codan Limited (ASX: CDA)

Another share caught up in today’s tech mayhem was Codan.

Its share price tumbled to a new 52-week low of $6.96.

That’s 4.5% lower than it was at the end of Friday’s session and 64% lower than its 52-week high of $19.43.

The communications focused ASX 200 tech stock has had a shocking start to 2022. It has fallen 26% year to date.

Fisher & Paykel Healthcare Corp Ltd (ASX: FPH)

Another ASX 200 share that has suffered through 2022 so far is Fisher & Paykel.

The healthcare giant’s share price has tumbled 20% since the start of this year. Today, it hit a new 52-week low of $24.61.

That’s 4.4% lower than where the stock finished last week’s trade.

Boral Limited (ASX: BLD)

Finally, the Boral share price knocked 10 cents off its previous 52-week low today, dragging it down to $3.43 in intraday trade.

The ASX 200 building products and construction materials manufacturer’s stock has been trading at or around its 52-week low since it issued a $3 billion capital return to its shareholders last month.

The post 5 ASX 200 shares slipping to 52-week lows today appeared first on The Motley Fool Australia.

More reading

• ANZ (ASX:ANZ) share price trails benchmarks, melts to another 52-week low
• 5 ASX 200 shares slumping to 52-week lows on Friday
• Why is the ANZ (ASX:ANZ) share price getting battered more than the other banks this week?
• Australia’s newest tech unicorn, Zeller, is taking on the ASX banks. Here’s how
• Can this ASX 200 bank share flame 20% higher?

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 recommended REA Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Rio Tinto Limited (ASX: RIO) share price is hovering in negative territory today following a $750,000 penalty notice. This comes as the verdict from the Federal Court case was handed down to the mining giant for breaching its continuous disclosure obligations.

At the time of writing, the mining giant’s shares are swapping hands for $126.06, down 0.40%.

Rio Tinto agrees Federal Court result

Investors are sending the Rio Tinto share price lower during Monday afternoon following the decision to penalise Rio Tinto.

According to the Australian Securities and Investments Commission (ASIC) media release, the Federal Court found that Rio Tinto failed to disclose material information to the ASX between 21 December 2012 and 17 January 2013.

This relates to the mining assets held by Rio Tinto Coal Mozambique which overstated its coal reserves.

ASIC deputy chair, Sarah Court commented:

Rio Tinto had obligations to the market to keep it adequately informed about its mining projects overseas.

When Rio Tinto was aware of information that Rio Tinto Coal Mozambique was no longer economically viable as a long-life, large-scale, Tier 1 coking coal resource, the market should have been properly informed in a timely manner.

Rio Tinto agreed to resolve the settlement along with ASIC’s costs of the proceeding. The company filed joint penalty submissions.

Furthermore, ASIC’s claims against two former Rio Tinto officers, Mr Albanese and Mr Elliott, have been dismissed. Each of the parties will bear their own legal costs.

At the time, the maximum penalty for a single breach of continuous disclosure laws was $1 million. This has since been increased.

Rio Tinto share price summary

Despite today’s slight loss, it has been a solid year to date performance for Rio Tinto shares, gaining 25%.

Based on today’s price, Rio Tinto has a market capitalisation of $46.79 billion and approximately 371.22 million shares outstanding.

The post Own Rio Tinto (ASX:RIO) shares? Here’s why the miner has been hit with a $750,000 fine appeared first on The Motley Fool Australia.

More reading

• Why is the Fortescue (ASX:FMG) share price having such a stellar start to the week?
• Time is running out to secure the Rio Tinto (ASX:RIO) monster dividend. Here’s why
• Own Rio Tinto (ASX:RIO) shares? Here’s why the miner is ‘closely monitoring’ the Ukraine situation’
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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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