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ASX lithium stocks were some of the hottest shares on the ASX markets last year. Lithium stocks like Pilbara Minerals Ltd (ASX: PLS) and Novonix Ltd (ASX: LVX) managed to give investors returns of over 200%. In Novonix’s case, it was a return north of 600%.

So as we are about to enter the third month of 2022, and with earnings season wrapping up, it might be a good time to see how these lithium stocks have fared more recently.

Firstly, let’s check out the ASX’s lithium poster child, Pilbara Minerals. Pilbara is the ASX’s largest pureplay lithium stock. With its market capitalisation of close to $8.5 billion, it is now a major ASX 200 player.

Well, Pilbara only reported its earnings earlier today, as it turns out. The company divulged a very impressive 394% increase in revenue to $291.7 million, which helped to deliver a massive surge in earnings from $3.2 million to $151.1 million. It seemed that investors weren’t initially sure how to take these numbers, but the Pilbara share price finished the day up 2.15% at $2.85 a share. Unfortunately, that still puts it down 19% in 2022 so far. 

ASX lithium stocks make big moves

Turning to Novonix, and this battery company runs on a different schedule to most ASX shares, and has yet to report its half-yearly earnings for FY2022. However, investors did seem buoyed today, perhaps due to Pilbara’s earnings. Novonix shares ended up finishing the day up a healthy 5.37% at $5.30 each. However, this ASX lithium stock has also had a rough 2022, and is now down a nasty 49.6% year to date. But even so, it remains up 61.1% over the past 12 months.

Liontown Resources Ltd (ASX: LTR) is another ASX lithium stock that hasn’t been reported this earnings season. However, the company made waves a couple of weeks ago when it announced a major supply deal with the famous US battery and electric vehicle company Tesla Inc (NASDAQ: TSLA) for lithium spodumene concentrate. However, Liontown shares are also down significantly in 2022, losing more than 18% since the start of the year. That’s despite today’s gain of 7.2%.

AVZ Minerals Ltd (ASX: AVZ) is the final lithium stock to check out today. We also haven’t heard from AVZ this reporting season. However, the company recently announced that an agreement with Suzhou CATH Energy Technologies had been expediated for its joint lithium project in the Democratic Republic of the Congo. AVZ shares were also up significantly today, by 9.03% at 78 cents a share. Even though AVZ remains down 10.8% year to date in 2022 so far, it’s still up more than 330% over the past year. 

The post How have ASX lithium stocks been faring this reporting season? appeared first on The Motley Fool Australia.

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

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Shares in Western Areas Ltd (ASX: WSA) were the centre of attention across the share market today.

During trade, the nickel producer turned over more than 45 million shares, making it the most traded company on the ASX for the day. However, the activity wasn’t accompanied by a decisive view on the Western Area share price. The company’s shares finished the day flat at $3.35 each.

So, why all the excitement? It looks like investors are having a delayed response to the company’s half-year results that were released yesterday.

Let’s take a closer look.

Western Areas shares attract an ASX crowd following half year boom

• Revenue up 48.3% over prior corresponding period to $181.9 million
• Nickel concentrate production up 7.4% to 7,800 tonnes
• Nickel concentrate sales up 14.5% to 8,500 tonnes
• EBITDA increases nearly three-fold to $71.6 million on a 39% margin
• Net profit after tax (NPAT) swings from a $12 million loss to a $18.8 million profit
• Average realised nickel price of $12.57 per pound, compared to $9.83 per pound in prior year

What else happened during the half?

The half-year period ending 31 December 2021 was a busy one for Western Areas and its mining operations.

As the increasing demand for nickel has been met with constrained supply, the company took advantage of the opportunity. According to the release, ASX-listed Western Areas upped its production and recovery to yield a 14.5% increase in sales volume.

However, the company notes that an 820-tonne shipment recognised during this reporting period was predominantly produced in FY21.

Additionally, a 28% uplift in the realised nickel price assisted the company’s cash flows during the first half. Specifically, cash flow from operations skyrocketed 140% to $66 million.

Despite pouring $68.6 million into growth and capex towards the Odysseus nickel project, costs rose a marginal 7.7%. Part of the increase in costs was attributed to a tight labour market in Western Australia.

What did management say?

Highlighting the achievements at the Odysseus project, Western Areas managing director Dan Lougher said:

We are very pleased to see Odysseus continue to hit important milestones, not least of which included first ore from Odysseus South, along with the raise bore shaft continuing to meet specifications as it is extended. Works for the winder house associated with the shaft are well underway, and refurbishment of the existing mill has commenced. In all, we have significantly de-risked the Odysseus development during the half, passing a number of key milestones without incident.

However, it seems Western Areas will also feel the pressures of inflation. Lougher said:

In the context of the tight labour market conditions in Western Australia, we have been focussed on managing costs and maximising productivity to take maximum advantage of the very strong nickel price for the half. However, cost inflation and labour shortages mostly associated with COVID-19 are likely to impact the second half of FY22 performance.

What’s next?

There are two important items ahead for ASX-listed Western Areas. The first development will see IGO Ltd (ASX: IGO) takeover Western Areas in a deal priced at $3.36 per share.

The deal looks likely to proceed after Andrew Forrests’ Wyloo Consolidated backed the acquisition last week.

Secondly, the company revised its FY22 guidance due to COVID-19-related productivity issues. As a result, Western Areas now expect nickel concentrate production of between 15,200 tonnes and 16,200 tonnes compared to 16,000 and 17,000 previously.

How have Western Areas shares performed on the ASX?

Shareholders of Western Areas shares can count themselves as outperformers over the past year. While the S&P/ASX 200 Index (ASX: XJO) returned 6.3%, the nickel producer delivered a 29% gain.

The resilient commodity market has carried over into 2022, with the company’s shares continuing to hold up better than the broader Australian share market.

The post Why did Western Areas (ASX:WSA) shares see so much action today? appeared first on The Motley Fool Australia.

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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. 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 Zip Co Ltd (ASX: Z1P) share price ‘zipped’ higher today despite no news having been released by the company.

But whatever the reason, its surge has likely eased the minds of anxious investors. Before today, the company’s stock had hit a new 52-week low every day for 4 trading days.

Yesterday – which saw the Zip share price tumbling 9.7% – brought the stock to an intraday low of $2.11. That’s the lowest it’s been since April 2020.

Fortunately, the buy now, pay later (BNPL) provider’s stock rebounded today. As of Wednesday’s close, the Zip share price is $2.32, 8.41% higher than it was at the end of Tuesday’s session.

It wasn’t the only one in the green today. The S&P/ASX All Technology Index (ASX: XTX) and S&P/ASX 200 Info Tech Index (ASX: XIJ) both ended the session 2.1% higher.

For context, the S&P/ASX 200 Index (ASX: XJO) gained 0.5%.

Let’s take a look at what might be going on with the driven the BNPL giant’s stock lately.

Zip share price soars ahead of earnings release

The Zip share price rebounded on Wednesday as the company prepared to release its earnings for the first half of financial year 2022.

They will drop sometime tomorrow. Luckily, or unluckily, the market has already had a chance to digest some of what its results will contain.

On Monday, Zip dropped a ‘preview’ of its earnings. Within the release, it reported that it expects the first half to have brought $302.2 million of revenue – representing an 89% increase on that of the prior comparable period and a new record.

Of course, that revenue was brought about by surging transaction numbers and transaction volumes – up 147% and 93% respectively.

However, Zip said its bad debts have increased to 2.6% of transaction volumes whiles its earnings before tax, depreciation, and amortisation is expected to come to a $108.1 million loss.

Additionally, the company announced it’s still in discussions to acquire ASX-listed rival Sezzle Inc (ASX: SZL).

The Sezzle share price also took off today, gaining 8%. Meanwhile, the Block Inc CDI (ASX: SQ2) share price gained 4%.

The potential it could acquire Sezzle was confirmed by Zip late last month. News that the talks are still ongoing likely bolstered investors’ hopes that things between the two are progressing well.

There have been rumours circulating around whether Zip would have to undergo a capital raise to afford the acquisition.

Though, such talks might be premature as the companies still haven’t confirmed whether they’ll go forward with the acquisition.

All in all, this week has been a particularly dramatic one for the Zip share price.

No doubt, all eyes will be on it once more tomorrow as the market awaits the release of the company’s half year earnings.

The post Why did the Zip (ASX:Z1P) share price zoom 8% higher today? appeared first on The Motley Fool Australia.

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• Own Zip (ASX:Z1P) shares? Rumours are circulating the company may be set for a capital raise

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. owns and has recommended Block, Inc. and ZIPCOLTD FPO. The Motley Fool Australia owns and has recommended Block, Inc. 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 Calix Ltd (ASX: CXL) share price was a very strong performer on Wednesday.

The environmental technology company’s shares ended the day 11% higher at $5.67 after investors responded positively to its half year results.

Calix share price surges higher following results

• Total sales revenue grew 6.5% to $9.8 million
• US gross margins improved from 31.4% to 36.4%
• Operating loss of $5.2 million
• Loss after tax of $7.5 million
• Cash balance of $26.3 million with a further $8 million in grant income to come

Management commentary

Calix’s Managing Director and CEO, Phil Hodgson, commented: “FY22 is the year we accelerated on technology development, given the growing tailwinds that have transformed the financial markets since early 2021.”

“As a result, we have invested aggressively in people, capital and external expertise. This is starting to pay off. The investment by Carbon Direct into our cement de-carbonisation technology in September ratified this strategy, providing look-through value into just one arm of our business. The opportunities continue to build across all our lines of business, and we are well resourced and positioned to capitalise on them,” he added.

Outlook

No guidance was given for the second half. However, management has provided the market with its plans for the half and beyond.

It said: “The Company will continue working towards the FY22 targets across each line of business. Particularly, with a rapidly growing pipeline of opportunities in the CO2 and sustainable processing business, there is significant potential to convert existing relationships into licensing / project agreements, which Calix anticipates reporting in the near term.”

Management also provided an update on a scoping study that was undertaken with Pilbara Minerals Ltd (ASX: PLS) to assess Calix’s renewably powered technology as part of a local lithium salt production process.

The results from the scoping study remain subject to both the Calix and Pilbara Minerals’ Boards’ approvals to proceed further, possibly with an even higher capacity plant than first considered. Planning for the full hydro-metallurgical pilot trials is underway, and discussions on a joint venture between the parties to commercialise the process are on-going in parallel to the technical development work.

The post Calix (ASX:CXL) share price jumps 11% following half year update appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia 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 Paladin Energy Ltd (ASX: PDN) share price jumped today despite no official news from the company. Paladin shares closed the session up 9.09% to 72 cents. So what’s been going on with the ASX uranium miner?

What’s going on with Paladin?

Since the beginning of the year, the Paladin share price has dropped by 24%. And it’s continued on a downward trend. This has coincided with a 7% dip in the value of uranium since mid-January. The current spot price is US$42.70 per pound.

The last news we heard from Paladin was its activities and cash flow report for the December quarter. In it, the miner revealed a cash position of US$38 million and no corporate debt.

Looking at its activities, it reported plans to restart its West African uranium operations but no set date was provided. It also planned to explore “value enhancement opportunities” across its “broader asset portfolio” in Australia and Canada.

Paladin CEO Ian Purdy said:

The improving structural outlook for uranium markets and the transition towards the decarbonisation of global electricity generation provides the platform for an exciting period ahead for Paladin and I look forward to updating you on our progress.

Last Tuesday, the S&P/ASX 200 Energy Index (ASX: XEJ) fell by 3.1%, despite oil hitting its highest price since 2014 — possibly in response to the threat of war between Russia and Ukraine. Paladin was one of the worst-performing large-cap energy stocks of the day, falling by 4.1%.

Paladin share price snapshot

Over the past 12 months, the Paladin share price has increased by 95%. Shares were trading as low as 36 cents around this time last year and as high as $1.12 in September.

The company has a market capitalisation of $1.76 billion.

The post Why did the Paladin Energy (ASX:PDN) share price surge 9% today? appeared first on The Motley Fool Australia.

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Motley Fool contributor Alice de Bruin 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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Many of Australia’s top brokers have been busy adjusting their financial models again, leading to the release of a large number of broker notes this week.

Three ASX shares brokers have named as buys this week are listed below. Here’s why they are bullish on them:

Cochlear Limited (ASX: COH)

According to a note out of Citi, its analysts have upgraded this hearing solutions company’s shares to a buy rating and with an improved price target of $235.00. This follows the release of a half year result that came in ahead of the broker’s expectations. This has led to Citi upgrading its estimates and valuation accordingly. The Cochlear share price is trading at $218.00 today.

Coles Group Ltd (ASX: COL)

A note out of Morgans reveals that its analysts have retained their add rating but trimmed their price target on this supermarket operator’s shares slightly to $19.70. Morgans notes that Coles’ half year results were largely in line with expectations. It was also particularly pleased with its lower than expected COVID costs. Overall, Coles remains its key pick in the supermarkets sector. The Coles share price was fetching $17.85 on Wednesday.

Telstra Corporation Ltd (ASX: TLS)

Analysts at Morgan Stanley have retained their overweight rating and $4.60 price target on this telco giant’s shares. This follows news that Telstra has signed an agreement with TPG Telecom Ltd (ASX: TPG) that will see the latter shares its mobile network. Morgan Stanley is a fan of the deal and believes it will be earnings per share accretive for Telstra and raise the value of its infrastructure assets. The Telstra share price is trading at $4.02.

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

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Cochlear Ltd. The Motley Fool Australia owns and has recommended COLESGROUP DEF SET and Telstra Corporation Limited. 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 Adore Beauty Group Ltd (ASX: ABY) share price is surging upwards today despite no news from the company.

It follows last week’s release of the company’s earnings for the first half of financial year.

This week, however, the online cosmetic retailer is in the headlines for a different reason today.

At the time of writing, the Adore Beauty share price is $2.22, 8.29% higher than its previous close.

That’s lower from its intraday high, though. The stock hit $2.33 earlier today, representing a 13.6% gain.

For context, the S&P/ASX 200 Index (ASX: XJO) is currently up 0.2%. Meanwhile the All Ordinaries Index (ASX: XAO) has gained 0.3%.

Adore Beauty stock surges as company caught up in media battle

The Adore Beauty share price is stunning the market today, gaining 10% despite only silence from the company.

Though, there’s been plenty of talk of Adore Beauty on Wednesday. Not that it has much to do with the company.

Additionally, it’s more than likely none of its stock’s movements have derived from the drama.

After the market closed yesterday, the Australian Financial Review (AFR) hit back against claims by the ABC‘s Media Watch that the publication’s reporting on Adore Beauty didn’t properly criticise the company’s valuation ahead of its 2020 float.

It came after AFR columnist Joe Aston critiqued the company in an opinion piece, saying it marketed its float using “an orgy of gendered PR”.

The program followed up on the opinion piece, criticising the AFR‘s previously “glossy” coverage of the company.

“But what Aston didn’t make clear was that the AFR had been one of the noisiest promoters of the company and its founder,” Media Watch host Paul Barry said.

AFR editor-in-chief Michael Stutchbury responded to the program’s questions on the publication’s roll in promoting the company’s float, saying it did critique the company’s valuation.

Specifically, within a detailed analysis written by markets reporter and commentator Tom Richardson.

Richardson’s article was titled, ‘Adore Beauty’s valuation raises eyebrows ahead of IPO’ and discussed if the company was worth the $635.3 million its offer price put its market valuation at.

And, in another article published by the AFR yesterday evening, it claimed Media Watch failed to consider its multi-faceted coverage of the company, its founder, and its float.

It also said it repeatedly reported some experts and investors found the company’s valuation too high in the lead up to the float. Finally, it stated Media Watch didn’t consider its coverage of the surging valuations of tech stocks in general in 2020 and 2021, and warnings the sector could be a bubble set to burst.

Adore Beauty share price snapshot

Of course, it’s unlikely the headlines have caused any of the Adore Beauty share price’s movement today.

Instead, its gains might be a reaction to the tech sector’s day in the sun.

Right now, the S&P/All Technology Index (ASX: XTX) is 2.2% higher. Meanwhile, the S&P/ASX 200 Info Tech Index (ASX: XIJ) has gained 2%.

On top of that, the Adore Beauty share price suffered a 9.2% tumble yesterday and a 5.8% slump on Monday.

Thus, today’s gains could be a simple market correction.

Whatever the reason, the stock’s surge hasn’t been enough to get the cosmetic retailer back into the green.

Right now, its share price is 45% lower than it was at the start of 2022. It. has also fallen 59% since this time last year.

Finally, investors who got in on the company’s initial public offering (IPO) can despair – the company’s share price is now 67% lower than its prospectus’ offer price of $6.75.

The post Why is the Adore Beauty (ASX:ABY) share price having an 8% glow up today? appeared first on The Motley Fool Australia.

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• 3 buy-rated ASX growth shares to make you smile

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 recommended Adore Beauty Group Limited. The Motley Fool Australia has recommended Adore Beauty 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 Archer Materials Ltd (ASX: AXE) share price is advancing during late afternoon trade today. This comes after the semiconductor company announced a positive update regarding its CQ quantum computing chip.

At the time of writing, Archer Materials shares are swapping hands for $1.055 cents, up 4.97%.

Archer adds to its intellectual property portfolio

Investors are pushing Archer shares higher after digesting the company’s latest win.

According to its release, Archer advised it has been approved for a European patent associated with its CQ quantum computing chip technology.

This follows numerous other patents that have been granted approval in Japan, South Korea, China and the United States. Currently, Australia and Hong Kong are in the midst of their patent application process.

Archer noted that the European approval represents a significant early-stage milestone in the development of the CQ chip. The jurisdictions in which the European patent is now effective spans across a number of countries in the continent. This includes Belgium, Switzerland & Liechtenstein, Germany, Spain, France, the United Kingdom, Italy, Turkey, the Netherlands, Sweden, and Ireland.

The company considers the jurisdictions as critical strategic markets to protect and potentially commercialise its IP.

European Patent protection is required for any possible future commercialisation operations. With the latest approval, Archer has access to Europe’s largest economies to explore sales opportunities within each of the countries.

Quick take on Archer

Founded in 2007, Archer is a technology company developing advanced semiconductor devices. This encompasses chips that can be used in quantum computing and medical diagnostics.

Archer’s flagship development, the CQ chip, is a world-first technology that could allow for quantum computing powered mobile devices.

Archer share price snapshot

It’s been an interesting year for Archer shares, having moved in circles until the start of July. Over the last 12 months, the company’s share price has increased by around 4% and is down 6% year-to-date.

On valuation grounds, Archer commands a market capitalisation of roughly $259.95 million, with approximately 247.56 million shares outstanding.

The post Chips ahoy! Here’s why the Archer Materials (ASX:AXE) share price is leaping 5% appeared first on The Motley Fool Australia.

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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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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a decent gain. At the time of writing, the benchmark index is up 0.4% to 7,191.9 points.

Four ASX shares that have failed to follow the market higher today are listed below. Here’s why they are falling:

Australian Ethical Investment Limited (ASX: AEF)

The Australian Ethical share price is down 5% to $7.67. Investors appear disappointed with the fund manager’s half year results. Although the company delivered a 35% increase in revenue to $35.2 million, its net profit only grew 5% to $5.4 million. This led to Australian Ethical declaring a flat interim dividend at 3 cents per share.

Domino’s Pizza Enterprises Ltd (ASX: DMP)

The Domino’s share price has tumbled 13.5% to $86.67. Investors have been selling the pizza chain operator’s shares after its half year earnings fell short of expectations. Domino’s reported an 11.1% increase in network sales but a 5.3% decline in underlying net profit after tax to $91.3 million. This earnings miss was driven largely by its underperformance in Asia.

Scentre Group (ASX: SCG)

The Scentre share price is down almost 5% to $3.00. This morning the shopping centre operator released its full year results and revealed a big improvement in its performance. This allowed Scentre to declare a 14.25 cents per share distribution, which is double what it paid a year earlier. However, taking the shine off the result was that its FFO per share came in below consensus estimates.

St Barbara Ltd (ASX: SBM)

The St Barbara share price is down 3% to $1.40. Investors have been selling this gold miner’s shares following the release of its half year results. For the six months ended 31 December, St Barbara reported a 63% decline in underlying profit to $15.1 million. This was driven by weak production during the half.

The post Why Australian Ethical, Domino’s, Scentre, and St Barbara shares are falling appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Australian Ethical Investment Ltd. The Motley Fool Australia has recommended Australian Ethical Investment Ltd. and Dominos Pizza Enterprises 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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Motley Fool Australia Chief Investment Officer Scott Phillips joined Nine’s Late News on Tuesday night to discuss the impact of Russian action in Ukraine, plus COVID costs crimp Coles Group Ltd (ASX: COL), and house prices might be starting to plateau.

The post The market responds to Russian aggression and COVID costs crimp Coles. Scott Phillips on Nine’s Late News appeared first on The Motley Fool Australia.

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Motley Fool contributor Scott Phillips has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia owns and has recommended 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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