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The Rio Tinto Ltd (ASX: RIO) share price closed up 1.2% yesterday.

Shares in the S&P/ASX 200 Index (ASX: XJO) mining giant finished the day trading at $119.87.

The Rio Tinto share price is in focus today after the company posted record results for the 2021 financial year (FY21).

Below we look at the highlights from those results, released after market close yesterday.

Rio Tinto share price in focus following record results

• Net cash from operating activities increased 60% year-on-year to US$25.35 billion
• Underlying earnings before interest, tax, depreciation and amortisation (EBITDA) of US$37.72 billion, up 58% from FY20
• Underlying earnings per share (EPS) of US$13.21, up from US$7.70 in FY20
• Total dividend payout increased 87% year-on-year to US$10.40

What else happened during the year?

Driven by the strong earnings, the miner’s net cash leapt to US$1.58 billion as at 31 December. That compares to a net debt of US$664 million the prior year end.

The Rio Tinto share price is also in focus after the company reported an 88% leap in its free cash flow, which climbed to US$17.66 billion.

With mining activities coming with inherent associated risks, the ASX 200 miner highlighted its focus on safety, noting that 2021 was its third successive fatality-free year of operations.

Rio Tinto also actively worked on rebuilding its relationships with Traditional Owners across its global operations over the course of the year.

And in October, the company released its longer-term strategy to ensure it remains profitable in a decarbonising world. Rio’s new target to reduce its Scope 1 and 2 carbon emissions by 50% by 2030 is more than triple its previous target.

2021 also saw the company progress with its Battery Minerals portfolio. Among the achievements on this front, Rio Tinto signed a binding agreement to acquire the Rincon lithium project in Argentina.

What did management say?

Commenting on the results, Rio Tinto CEO Jakob Stausholm said:

The recovery of the global economy, driven by industrial production, resulted in significant price strength for our major commodities, which we were able to capture, achieving record financial results…

With the launch of our new strategy, we have set a new direction for Rio Tinto to thrive in a decarbonising world. We have a portfolio that is well-positioned, and are targeting disciplined investment in commodities that will see strong demand in the coming decades.

What’s next?

Looking to the year ahead, Rio Tinto expects capital expenditure of roughly $8.0 billion. That takes into account potential increases of approximately 15% for the Pilbara replacement projects.

There’s still a hefty tax bill due to the Australian Taxation Office (ATO). Rio intends to make a final US$1.1 billion payment to the ATO in June.

Citing rising input prices and labour costs, an increased mining work index and higher mine processing plant maintenance, Rio expects its Pilbara iron ore unit cash costs to increase to $19.5-$21.0 per tonne.

Production guidance remained unchanged from its Q4 report.

Rio Tinto share price snapshot

The Rio Tinto share price has been a strong performer in 2022, up 20.2%. That compares to a year-to-date loss of 5.1% posted by the ASX 200.

The post Rio Tinto (ASX:RIO) share price in focus today following record-breaking results appeared first on The Motley Fool Australia.

More reading

• 5 things to watch on the ASX 200 on Thursday
• The iron ore price outlook could be darkening amid China’s latest plans
• 5 things to watch on the ASX 200 on Wednesday
• The week ahead: Earnings, wages and business conditions. Scott Phillips on Nine’s Late News
• Rio Tinto (ASX:RIO) earnings will ‘surprise on the upside’: fundie

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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Ask A Fund Manager

The Motley Fool chats with fund managers so that you can get an insight into how the professionals think. In this edition, Red Leaf Securities chief executive John Athanasiou explains how the entire western world is relying on the production from one particular ASX-listed company.

The ASX share for a comfortable night’s sleep

The Motley Fool: If the market closed tomorrow for four years, which stock would you want to hold?

John Anathasiou: This one might be a little gutsy… But given its global strategic importance, I would hold Lynas Rare Earths Ltd (ASX: LYC).

It’s the only significant producer of rare earth materials outside of China. Rare earth materials are required for all sorts of things that we consume on a daily basis — from electric cars, mobile phones to superconductors. 

And the western world really wants a producer outside of China, so it enhances strategic importance. They announced recent record sales revenue of, I think, $202 million dollars. And that’s despite supply chain [issues], which we think will be resolved fairly soon. So there’s even more upside to them. So I think if you hold Lynas now, you’ll be happy in four years’ time.

MF: When did your team buy into it?

JA: We started buying about three or four months ago.

Looking back

MF: Is there a move that you regret from the past? For example, a missed opportunity or buying an ASX stock at the wrong timing or price.

JA: Oh mate, where do we begin? We’re just talking about investments, right!

What I regret the most is underestimating the pace and scale of how the share market recovered following the COVID-19-induced slump prior to March 2020. 

I actually told my team and all my clients, this is the greatest opportunity since the GFC. But I was taken aback by the extent of it. That was so rare and fast. I think it caught a lot of people by surprise.

MF: It was almost like 2020 was five years crammed into one, wasn’t it?

JA: Exactly. That’s like a one-in-10-year event, so you don’t want to miss those opportunities.

MF: After the market fall last month, do you feel like the current situation is going to be as dramatic as that?

JA: I don’t think it’ll be as dramatic.

There will be a bounce because markets traditionally do. But things were really scary back then, if you recall. They’re not as scary now.

MF: The world knows more about the virus now, don’t they?

JA: Correct. We were in uncharted waters. Last time a pandemic happened was 100 years ago.

The post The ASX share that the whole world is relying on appeared first on The Motley Fool Australia.

More reading

• Here’s how rich Lynas Rare Earths (ASX:LYC) shares have made ASX 200 investors over the past 2 years
• What even are rare earths and why are ASX shares with exposure always in the spotlight?
• Do Lynas Rare Earths (ASX:LYC) shares pay dividends?
• Lynas (ASX:LYC) share price jumps on government green light

Motley Fool contributor Tony Yoo 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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If you’re looking to add some diversity to your portfolio, then exchange traded funds (ETFs) could help you achieve this. ETFs provide investors with exposure to a wide range of themes, sectors, and indices through a single investment.

Two ETFs that you might want to get better acquainted with are listed below. Here’s what you need to know:

ETFS Battery Tech & Lithium ETF (ASX: ACDC)

The first ETF to look at is the ETFS Battery Tech & Lithium ETF. It aims to provide investors with a return that, before fees and expenses, tracks the performance of the Solactive Battery Value-Chain Index.

This index represents the performance of companies that are providers of electrochemical storage technology and mining companies that produce metals used for the manufacturing of battery-grade lithium batteries.

Given the outlook for lithium prices due to increasing demand and tight supply, the companies included in the fund appear well-placed for growth in the coming years. This could be good news for the ETF.

VanEck S&P/ASX MidCap ETF (ASX: MVE)

Another ETF for investors to look at is the VanEck S&P/ASX MidCap ETF. This ETF gives investors exposure to a diversified portfolio of ASX-listed shares.

It aims to provide investment returns before fees and other costs of the S&P/ASX Midcap 50 Index. This index represents the mid cap universe for Australia and comprises all the members of the S&P/ASX 100 excluding those in the S&P/ASX 50.

VanEck notes that Australian mid caps are the “sweet spot” of the Australian equity universe and represent companies with the spirit of small companies combined with the maturity of large companies. Its holdings include companies from various sectors such as A2 Milk Company Ltd (ASX: A2M), Carsales.Com Ltd (ASX: CAR), Pilbara Minerals Ltd (ASX: PLS), and REA Group Limited (ASX: REA).

The post 2 top ETFs for ASX investors to watch appeared first on The Motley Fool Australia.

More reading

• Why has the ETFS Battery Tech & Lithium ETF (ASX:ACDC) been on a highway to hell the past month?

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 A2 Milk, REA Group Limited, 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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Australian Foundation Investment Co.Ltd. (ASX:AFI) has told investors about some of the ASX shares that it hopes will help the portfolio returns, and therefore assist the AFIC share price and dividend.

AFIC is one of the oldest listed investment companies (LICs) in Australia. It has a portfolio of 60 to 80 companies across a range of industries, that are selected for their ability to perform through economic cycles and generate returns over the long term.

AFIC aims to provide shareholders with long-term returns and dividends that grow faster than the rate of inflation.

Its portfolio is now approximately $9 billion in size.

Biggest positions in the AFIC portfolio

The LIC tells investors every month about what its top 25 investments are in the portfolio.

At the end of January 2022, these are some of the biggest holdings:

Commonwealth Bank of Australia (ASX: CBA) – 8.5% of the portfolio

BHP Group Ltd (ASX: BHP) – 7.4% of the portfolio

CSL Limited (ASX: CSL) – 7% of the portfolio

Macquarie Group Ltd (ASX: MQG) – 4.7% of the portfolio

Wesfarmers Ltd (ASX: WES) – 4.5% of the portfolio

Transurban Group (ASX: TCL) – 4.1% of the portfolio

Westpac Banking Corp (ASX: WBC) – 3.6% of the portfolio

National Australia Bank Ltd (ASX: NAB) – 3.5% of the portfolio

Woolworths Group Ltd (ASX: WOW) – 2.7% of the portfolio

James Hardie Industries plc (ASX: JHX) – 2.7% of the portfolio

The AFIC share price and portfolio returns are heavily influenced by the bigger positions.

New investments

AFIC recently released its FY22 half-year result, which included details of buys for the portfolio.

These are some of the latest additions to the portfolio:

Transurban Group (ASX: TCL) – Transurban owns a high-quality, diversified toll road portfolio.

AFIC likes Transurban because of its “good track record” of capital allocation by management, driving strong long-term free cash flow growth. It’s expecting a recovery for Transurban in FY23 and the West Gate Tunnel project cost blowout issue has now been resolved. Transurban also has an attractive pipeline of potential opportunities.

CSL Limited (ASX: CSL) – The biotech giant is another addition. It specialises in the treatment of rare diseases and influenza.

AFIC likes the consistently high return on capital that CSL has achieved, with a long and successful track record of capital allocation driving shareholder returns. It continues to invest in 10% to 11% of global sales of R&D.

The LIC likes the acquisition of Vifor Pharma, a new growth area treating kidney disease and iron therapy.

Other additions include the purchase of JB Hi-Fi Limited (ASX: JBH) shares and Coles Group Ltd (ASX: COL) shares.

AFIC portfolio performance

In AFIC’s January monthly update, it revealed that its net asset per share growth plus dividends (including franking) return was 12.5% compared to 10.9% for the S&P/ASX 200 Accumulation Index, including franking.

Over the past five years, the AFIC portfolio return was an average of 10.6%, compared to 10% for the benchmark.

At the time of writing, the AFIC share price has risen 14% over the last year. The S&P/ASX 200 Index (ASX: XJO) has grown 6.3% in the last 12 months.

The post What new ASX share investments are predicted to help the AFIC share price and dividends? appeared first on The Motley Fool Australia.

More reading

• 5 things to watch on the ASX 200 on Thursday
• Here’s why CSL (ASX:CSL) could be an ASX 200 share to buy now
• Here are the top 10 ASX shares today
• These 3 ASX 200 shares are topping the volume charts this Wednesday
• Why did ASX 200 shares leap on the latest wages data released today?

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 CSL Ltd. The Motley Fool Australia owns and has recommended COLESGROUP DEF SET. 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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On Wednesday, the S&P/ASX 200 Index (ASX: XJO) was back on form and pushed higher. The benchmark index rose 0.6% to 7,205.7 points.

Will the market be able to build on this on Thursday? Here are five things to watch:

ASX 200 to open deep in the red

The Australian share market looks set to give back all of yesterday’s gains following a poor night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 74 points or 1% lower this morning. In late trade on Wall Street, the Dow Jones is down 0.9%, the S&P 500 has fallen 1.4%, and the Nasdaq has tumbled 1.8%. Developments in Ukraine are weighing on sentiment.

Rio Tinto full year results

The Rio Tinto Limited (ASX: RIO) share price will be one to watch this morning after the mining giant released a record-breaking full year result. Rio Tinto delivered underlying EBITDA of US$37,720 million, which is up 58% over the prior corresponding period but a touch lower than the Visible Alpha consensus estimate of US$38.5 billion. The miner is paying a total dividend of 1,040 US cents per share, including a 247 US cents per share special dividend.

Oil prices mixed

It could be a subdued day for energy shares including Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) following a mixed night for oil prices. According to Bloomberg, the WTI crude oil price is up 0.2% to US$92.10 a barrel and the Brent crude oil price is down slightly to US$96.83 a barrel.

Appen full year update

The Appen Ltd (ASX: APX) share price could be one to watch closely today. This morning the artificial intelligence data services company is releasing its highly anticipated full year results. There are concerns that demand from its biggest customers, such as Facebook, could be falling sharply

Gold price edges higher

It could be a decent day for gold miners Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) after the gold price edged higher. According to CNBC, the spot gold price is up 0.1% to US$1,909.4 an ounce. Rising Russia-Ukraine tensions boosted the safe haven asset.

The post 5 things to watch on the ASX 200 on Thursday appeared first on The Motley Fool Australia.

More reading

• Here are the top 10 ASX shares today
• 3 ASX 200 value shares to buy for higher inflation: fundie
• These 3 ASX 200 shares are topping the volume charts this Wednesday
• Why did ASX 200 shares leap on the latest wages data released today?
• ASX 200 (ASX:XJO) midday update: Woolworths impresses but Domino’s crashes after earnings miss

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 Appen Ltd. The Motley Fool Australia owns and has recommended Appen 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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Among the 200 shares listed on the benchmark ASX 200 index are some of the highest quality companies that Australia has to offer. One of those is CSL Limited (ASX: CSL).

Why CSL shares?

CSL is widely regarded to be one of the highest quality shares on the ASX 200. It is a biotherapeutics company that develops, manufactures, and sells a range of life-saving plasma therapies and vaccines. It is also in the process of acquiring Vifor Pharma for ~$17 billion.

The addition of Vifor is expected to expand CSL’s leadership across an attractive portfolio focused on renal disease and iron deficiency, complementing its existing therapeutic focus areas including Haematology, Thrombosis, Cardiovascular, and Transplant.

But it doesn’t end there. Each year CSL invests in the region of 10% to 11% of its sales back into research and development (R&D) activities. In fact, earlier this month when the company released its half year results, it revealed an R&D spend of US$486 million for the six months. Pleasingly, CSL looks set to soon bear the fruit from its R&D labour. Management advised that a promising cluster of R&D programs are nearing completion.

Is the CSL share price good value?

The team at Morgans see a lot of value in the CSL share price. In response to its half year results, last week the broker put an add rating and $327.60 price target on its shares.

Based on the current CSL share price of $268.89, this implies potential upside of 22% for investors over the next 12 months.

It commented: “CSL – 1H above expectations; the “tide is beginning to turn” 1H results were better than expected, albeit in line with management’s assumptions, with net profit down 5% in cc on 4% revenue growth.”

“While near term challenges remain, the ongoing recovery in plasma collections, coupled with management’s confidence, paints a favourable earnings picture,” it concludes.

The post Here’s why CSL (ASX:CSL) could be an ASX 200 share to buy now appeared first on The Motley Fool Australia.

More reading

• ASX 200 shares stage comeback amid Russia optimism
• Own CSL shares? Boss reveals why biotech is ‘not fussed’ about exiting COVID vaccine race
• Top brokers name 3 ASX shares to buy next week
• 3 of the best results on the ASX 200 last week
• Why Challenger, CSL, NRW, and Woodside shares are pushing higher

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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If you have a penchant for investing in small cap shares, then you might want to look at the two listed below.

Here’s why these are highly rated by analysts right now:

MoneyMe Ltd (ASX: MME)

The first small cap ASX share to watch is MoneyMe. It is a fintech that uses technology and artificial intelligence to deliver highly automated credit products and customer experiences.

The company notes that it originates through a diversified mix of credit products and distribution channels to create significant scale and long-term customer advantages. This will soon include the SocietyOne business, which the company is acquiring for $132 million.

Morgans is positive on the company and believes it has strong long term growth potential.

The broker commented: “In our view, MME continues to deliver strong organic book growth and believe its new, innovative product suite, targeting niche under-serviced markets has the potential to further drive top-line growth. Add maintained.”

Morgans has an add rating and $2.50 price target on the company’s shares.

Nitro Software Ltd (ASX: NTO)

Another small cap ASX share to look at is Nitro Software. It is a global document productivity software company aiming to drive digital transformation in organisations across multiple industries globally.

Nitro’s core solution, the Nitro Productivity Suite, provides integrated PDF productivity and eSignature tools to customers through a horizontal, software as a service and desktop-based software suite.

Goldman Sachs is positive on Nitro and believes the market is underestimating its growth potential as a challenger in a US$34 billion total addressable market across PDF, e-signing and workflows.

It commented: “Nitro is down ~50% since November with the market currently pricing in long-term growth and margin assumptions that understate Nitro’s potential, in our view. We are positive on Nitro’s structural growth opportunity, reflected in our DCF scenario analysis implying an attractive asymmetric risk/reward skew.”

Goldman Sachs has a buy rating and $2.95 price target on its shares.

The post 2 small cap ASX shares getting analysts excited appeared first on The Motley Fool Australia.

More reading

• 3 buy-rated ASX tech shares with at least 60% upside potential
• 2 exciting ASX growth shares analysts are tipping for big things
• 2 ASX tech shares we’re backing through the turmoil: analysts
• 3 excellent ASX growth shares to buy before it’s too late
• Analysts name 3 small cap ASX tech shares with major upside potential

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 Nitro Software 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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Shares in Costa Group Holdings Ltd (ASX: CGC) traced lower today without any market-sensitive news in correlation.

The group released its full-year results for the 12 months ending 31 December 2021 yesterday. This saw the Costa share price spike by 26 cents to a four-month high of $3.26. That was an impressive 8.6% gain.

Alas, today Costa gave all of those gains back. The share price finished the day at $2.98 — a loss of exactly 8.6% on a trading volume more than double Costa’s four-week average.

Why did ASX investors sell down Costa today?

After a fairly robust set of results yesterday, questions remain as to why ASX investors sold the stock down on Wednesday.

Revenue came in 5% higher at $1.22 billion and EBITDA increased by more than 10% over the course of the year. This carried through to a 5 cents per share dividend fully franked for shareholders at tax time.

However, net profit after tax (NPAT) was weak — slipping 31% compared to 2020 — as cost increases and supply chain headwinds plagued the company’s earnings.

As such, reported earnings per share (EPS) was 22% lower and missed the consensus estimate of analysts by a considerable amount.

It also missed the consensus on revenue by about 30 basis points. Analysts had been banking on Costa recognising $1.225 billion at the top in 2021.

Plus, even though the company grew its earnings throughout the year, it appears that market pundits were expecting far more. As such, analysts have downgraded their earnings estimates across the board on average for FY22 and FY23. Their downgrades extend from revenue all the way down to EPS and free cash flow at the bottom lines.

What does a future earnings downgrade mean for Costa?

These downgrades by analysts are important because as Peter Lynch alludes to in his book, One Up On Wall Street, the market prices stocks on a combination of past earnings and future earnings expectations. Hence, downward revisions of future earnings could impact the market’s view of Costa moving forward.

The downward revisions certainly aren’t good news for the Costa share price, which has been tracking below the S&P/ASX 200 Index (ASX: XJO) since May last year.

The ‘crocodile jaws’ pattern, as it is colloquially known, shows no signs of narrowing — as seen on the chart below.

Costa share price snapshot

In the past 12 months, the Costa share price has fallen by 32% and is down 4% this year to date.

Things are looking a bit more positive in the past month though with the shares trading in the green, up 1.36% during this time.

The post Costa (ASX:CGC) share price tumbles 8%, giving back all of Tuesday’s gains. What’s going on? appeared first on The Motley Fool Australia.

More reading

• Why Cochlear, Coles, Costa, and Monadelphous shares are racing higher
• Fruitful earnings: Costa Group (ASX:CGC) share price surges 8% on full-year results
• Analysts name 2 beaten down ASX shares with 30% upside

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 COSTA GRP FPO. 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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Woolworths Group Ltd (ASX: WOW) is facing a fresh investigation from the Fair Work Ombudsman after the company admitted it underpaid employees.

Woolworths shares closed the session at $35.68 today, a 1.36% gain. For perspective, the S&P/ASX 200 Index (ASX: XJO) climbed 0.62% today.

Let’s take a look at what the company revealed today.

Woolworths in focus

Woolworths has discovered $144 million worth of staff underpayments as part of a payroll review. The supermarket giant revealed the discrepancy in its half-year results today.

The Fair Work Ombudsman (FWO) will launch an investigation into the underpayments, The Australian reported today. This is on top of the legal action the ombudsman launched against the company in June 2021.

In its half-yearly results presentation on Wednesday, CEO Brad Banducci apologised for the findings. He said:

We are disappointed to have identified further inadvertent underpayments and unreservedly apologise to our affected team members.

We will continue to fix issues when we identify them and introduce the right controls to prevent them from happening again.

This latest discovery takes the total underpayments to employees to at least $571 million, after a separate review uncovered underpayments of $427 million.

The payroll investigation is ongoing with 85% of Woolworths staff reviewed to date. The company hopes to complete the process by the end of 2022.

As covered by the Motley Fool earlier, Woolworths reported a 6.5% drop in net profit in its half-year results today. However, group sales were up 8% on H1 FY21.

The company’s performance was impacted by the COVID-19 pandemic. Despite strong sales growth, Woolworths reported COVID cost the company $239 million.

Woolworths declared a fully-franked interim dividend of 39 cents per share, down 26.4% on the prior corresponding period.

Woolworths share price snapshot

The Woolworths share price has risen 3% in the past year but is down 6% year to date. In the past week, it has gained 4%.

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

Woolworths has a market capitalisation of about $43 billion based on its current share price.

The post Woolworths (ASX:WOW) faces fresh probe as wage scandal balloons to $500m appeared first on The Motley Fool Australia.

More reading

• ASX 200 (ASX:XJO) midday update: Woolworths impresses but Domino’s crashes after earnings miss
• Profit drop: Woolworths (ASX:WOW) share price pushes higher despite ‘challenging’ first-half results
• 5 things to watch on the ASX 200 on Wednesday
• Own Woolworths (ASX:WOW) shares? Here’s what to expect when the company reports this week
• Top brokers name 3 ASX shares to sell next week

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 able to ward off another negative day despite Russia’s push into Ukraine, followed by sanctions from much of the western world. At the end of the session, the benchmark index finished 0.62% higher at 7,205.7 points.

In a change of scenery, the tech sector led the Australian share market higher today with its 2.2% rally. Close behind was a strong performance from communication services. The only sectors unable to keep up with the rest of the market were real estate and utilities, both of which finished in the red.

However, the question is: which shares delivered the biggest returns to investors on the ASX today? Here are the top ten stocks that came through for investors:

Top 10 ASX shares countdown today

Looking at the top 200 listed companies, Pexa Group Ltd (ASX: PXA) was the biggest gainer today. Shares in the online property exchange network operator jumped 13.93% after the company delivered an impressive result for the first half. Find out more about Pexa Group here.

The next biggest gaining ASX share today was Paladin Energy Ltd (ASX: PDN). The uranium mining company lifted 9.09% higher today despite there being no official news published. Uncover the latest Paladin Energy details here.

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

ASX-listed company	Share price	Price change
Pexa Group Ltd (ASX: PXA)	$19.38	13.93%
Paladin Energy Ltd (ASX: PDN)	$0.72	9.09%
AVZ Minerals Ltd (ASX: AVZ)	$0.785	9.03%
Zip Co Ltd (ASX: Z1P)	$2.32	8.41%
Nickel Mines Ltd (ASX: NIC)	$1.45	8.21%
APM Human Services International Ltd (ASX: APM)	$2.73	7.91%
Liontown Resources Ltd (ASX: LTR)	$1.42	7.17%
Allkem Ltd (ASX: AKE)	$9.38	6.83%
Summerset Group Holdings Ltd (ASX: SNZ)	$11.00	6.80%
Chalice Mining Ltd (ASX: CHN)	$7.09	5.66%

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

• Why did the Paladin Energy (ASX:PDN) share price surge 9% today?
• These 3 ASX 200 shares are topping the volume charts this Wednesday
• Why did ASX 200 shares leap on the latest wages data released today?
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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. 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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