Tag: Motley Fool

The Crown Resorts Ltd (ASX: CWN) share price was in the green earlier on Thursday. However, it tumbled after the company announced it’s been hit with another $1 million fine by Victoria’s gambling watchdog.

The Victorian Commission for Gambling and Liquor Regulation (VCGLR) has issued Crown with a second maximum penalty fine. This time, it found the company failed to comply with junket regulations in 2015 and 2016.

The body slapped Crown with a $1 million fine in April for similar behaviour.

At the time of writing, the Crown share price is $11.74, 0.34% lower than its previous close.

For context, the S&P/ASX 200 Index (ASX: XJO) is currently up 0.22%.

Let’s take a closer look at today’s news of Crown’s Melbourne casino.

Crown share price slumps on more historical wrongdoings

The Crown share price is sliding after the VCGLR fined the company for ignoring an order to end its relationship with an individual, non-residential, junket operator and their associates.

VCGLR also found Crown didn’t conduct due diligence on the operator and allowed them to conduct junkets. It also failed to tell the commission before they began their operation.

Notably, had the watchdog made its findings after 1 January 2022 – when the Victorian Gambling and Casino Control Commission is to replace the VCGLR – Crown could be looking at fines of up to $100 million.

The new maximum fine is part of the recently passed Casino and Gambling Legislation Amendment Act 2021.

VCGLR chair Ross Kennedy commented on Crown’s fine, saying:

The amount of this fine reflects the seriousness of this matter, particularly Crown’s conduct in failing to immediately implement the requirements of the commission’s direction to cease a relationship with an unsuitable junket operator.

The VCGLR expects its regulated entities to be proactive in their compliance with regulatory requirements, and firm action will continue to be taken against those that wilfully disregard or disobey directions of the regulator.

The matter wasn’t addressed in the Royal Commissioner’s report, released in October, after which the Crown share price surged. However, VCGLR said it’s “considering Commissioner Finkelstein’s report and will decide what further regulatory action is appropriate in relation to the findings”.

If further action is taken, it could be under the new legislation.

Crown CEO Steve McCann commented:

Crown will consider the findings of the VCGLR carefully, with a view to continuing to advance its reform agenda and taking into consideration all available learnings…

The announcement today from the VCGLR is a reflection of past practices which no longer occur at Crown.

The Crown share price has gained 18% over 2021.

The post Crown (ASX:CWN) share price slides on news of second $1m fine appeared first on The Motley Fool Australia.

More reading

• Leading fund manager says these blue-chip ASX shares are buys right now
• Crown Resorts share price (ASX:CWN) lifts ahead of culture reform
• Why this top broker thinks the Crown (ASX:CWN) share price is a buy right now
• Crown (ASX:CWN) share price lifts as company opens door to Blackstone. But what about Star?

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

from The Motley Fool Australia https://ift.tt/32lxp2f

The S&P/ASX 200 Index (ASX: XJO) is enjoying a relatively positive day of share market trading so far this Thursday. At the time of writing, the ASX 200 is up a reasonable 0.22% at 7,381 points.

But let’s dive a little deeper and examine the ASX 200 shares currently topping the market’s share volume charts, according to investing.com.

3 most traded ASX 200 shares by volume on Thursday

Bega Cheese Ltd (ASX: BGA)

ASX 200 food company Bega Cheese is our first share to check out today. Bega has seen a notable 7.94 million of its shares traded on the markets so far. This is almost certainly a consequence of the nasty 10% drop the Bega Cheese share price has suffered thorugh this Thursday. As we covered earlier today, this relates to a trading update the dairy compnay gave to investors. Lower guidance for FY2022 appears to be the reason investors are hitting the sell button here.

Sydney Airport (ASX: SYD)

Sydney Airport is next up today. This ASX 200 infrastructure giant has had a hefty 12.75 million shares traded on the markets thus far this Thursday. The Sydney Airport share price hasn’t done anything too dramatic today.

It’s currently up just 0.06% at $8.68. However, the ongoing takeover process that Sydney Airport is currently undertaking might have something to do with this volume. Yesterday, we got the news that the Foreign Investment Review Board has given the takeover the green light, so that might be assisting today’s volumes.

Pilbara Minerals Ltd (ASX: PLS)

Pilbara Minerals is our final and most traded share this Thursday. This ASX 200 lithium producer has had a sizeable 15.98 million shares find a new home today. There’s been no major news or announcements out of Pilbara so far.

However, this high volume might be the result of the movements of the Pilbara share price itself. At present, Pilbara shares are trading at $2.81 each, up a healthy 2.93%, after hitting a new all-time high of $2.84 earlier this morning. This rise is likely why there have been so many shares bouncing around the markets today.

The post These 3 ASX 200 shares are topping the volume charts this Thursday appeared first on The Motley Fool Australia.

More reading

• Why Afterpay, Bega, FAR, and WiseTech shares are falling
• Index killer? Here’s how AFIC (ASX:AFI) shares stack up to the ASX 200
• ASX 200 (ASX:XJO) midday update: Medibank and NIB rise, Bega sinks
• Why the Bega (ASX:BGA) share price is sinking 9% today
• Are these 2 strong ASX 200 shares buys?

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

from The Motley Fool Australia https://ift.tt/3FmpZdq

Shares in ASX new-lister Falcon Metals Ltd (ASX: FAL) are trending up late in the session on Friday and are now trading 22.8% higher at 39 cents.

The gain is a welcome reprieve for shareholders who were left holding a hot potato overnight after the Falcon share price dropped almost 20 cents off its initial public offering (IPO) entry price of 50 cents per share.

What’s up with the Falcon Metals share price today?

There’s been no market-sensitive information out of Falcon’s camp today. However, the Falcon share price is catching bids as investors decide on how to price the company in the secondary markets following yesterday’s IPO.

Falcon was spun out from Chalice Mining Ltd (ASX: CHN) after shareholders voted strongly in favour of the demerger earlier this month.

The Chalice share price is also inching higher today — up 0.59% to $8.54 at the time of writing — albeit with less steam than its now successful gold demerger in Falcon.

Chalice decided to restructure its gold mining operations in order to focus on its Julimar Ni-Cu-PGE Project and the new West Yilgarn Ni-Cu-PGE Province in Western Australia.

Falcon raised $30 million in an oversubscribed IPO but the market wasn’t as rosy on the lofty valuation yesterday, sending the newly formed public company’s share price south on the day.

At market close yesterday, the ASX’s newest addition finished down 28% at 36 cents apiece after listing at an oversubscribed offer of 50 cents per share.

Furthermore, the ATO Class Ruling outlining the tax implications for certain shareholders due to the demerger is expected to be finalised in the next few weeks. Falcon will make an announcement when it’s finalised.

With respect to Falcon’s operations, the company advised it expected to start drilling activities at Pyramid Hill in January 2022.

Falcon also released a non-sensitive announcement today giving notice of an initial substantial shareholder, mining investor Tim Goyder, which the market may be reacting positively to.

What now for Falcon?

The admission of Falcon to the official ASX and quotation of its shares was conditional on satisfying ASX’s listing conditions.

Falcon’s share price gain today is a step back towards its listing price of 50 cents per share.

The company’s managing director, Tim Markwell, said yesterday that Falcon would further explore the gold projects spun out by Chalice.

Markwell said the assets were located in areas considered “highly prospective for gold discoveries”, with Pyramid Hill particularly noteworthy due to its location in the Bendigo goldfield and proximity to Fosterville. The Viking and Mount Jackson sites were also promising.

The post 22% recovery: Falcon Metals (ASX:FAL) share price regains on second day of trade appeared first on The Motley Fool Australia.

More reading

• Falcon Metals (ASX:FAL) share price nosedives 28% on IPO

The author has no positions 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.

from The Motley Fool Australia https://ift.tt/32dvmO0

The Santos Ltd (ASX: STO) share price has been a disappointing performer in 2021.

Despite merging with Oil Search, the energy producer’s shares are down 2% year to date.

Is the Santos share price weakness a buying opportunity?

One leading broker that believes the Santos share price is in the buy zone following its merger with Oil Search is Morgans.

According to a note this week, after running the rule over the merger, the broker has put an add rating and $8.65 price target on the company’s shares.

Based on the current Santos share price of $6.29, this implies potential upside of almost 38% for investors over the next 12 months.

What did Morgans say?

Morgans has boosted its earnings estimates to reflect the merger. And while it does appear to believe the Oil Search business will be a drag on its free cash flows due to higher capital expenditure, it isn’t enough to put it off.

It explained: “The merger with OSH has seen our group EBITDAX estimate increase 54% to US$4,135m, indicative of the new earnings platform STO holds post-merger. While over the next three years it is likely STO will have to carry a neutral to negative FCF performance from the OSH business if it progresses development at Pikka (Alaska) and Papua LNG, with capex to 2024 of US$1.2bn combined expected.”

The broker also highlights that Santos is expecting synergies of US$90 million to US$115 million after the merger from organisational optimisation. However, it suspects the company could do better than this.

Morgans commented: “STO estimates synergies of US$90-$115m (ex-Alaska) after the merger, from organisational optimisation. We expect the reality will prove better than the promise, with STO’s 6-year track record of driving efficiency gains and lean approach at odds with OSH’s outsized corporate overheads (despite OSH only operating small parts of its business).”

All in all, its analysts feel this leaves the Santos share price trading at a very attractive for investors. In fact, it believes its lofty price target is reasonably modest.

The broker concluded: “We view our target price as conservative, with a case for value upside from de-risking of growth projects and securing of synergies. The merger leaves STO well positioned to control its own future in increasingly difficult ESG-driven debt and equity markets. We maintain our Add rating.”

The post Is the Santos (ASX:STO) share price good value after the Oil Search merger? appeared first on The Motley Fool Australia.

More reading

• 5 things to watch on the ASX 200 on Thursday
• These 3 ASX 200 shares are topping the volume charts on Wednesday
• Here are the 3 most heavily traded ASX 200 shares this Tuesday
• Santos (ASX:STO) share price jumps on divestment speculation
• These 3 ASX 200 shares are topping the volume charts on Monday

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has 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.

from The Motley Fool Australia https://ift.tt/32ptWj0

The Medibank Private Ltd (ASX: MPL) share price is seesawing today after the company said it would be deferring its premium increase.

At the time of writing, the private health insurance giant’s shares are exchanging hands for $3.38, the same as yesterday’s closing price. However, they have spent time in the red and the green today.

Medibank pushes back date on premium increase

According to the update, Medibank has returned roughly $135 million in COVID-19 savings to customers. This comes after it decided to defer next year’s premium increase for 5 months.

Originally, Medibank and Ahm health insurance premiums were set to lift by an average of 3.1% from April 2022. The adjustment will be the lowest average premium increase in the last 21 years. However, this now won’t happen until 1 September 2022.

The latest financial support package boosts the company’s reputation in becoming socially responsible. So far, Medibank has returned about $435 million of relief to policyholders. However, the news hasn’t done much for the Medibank share price.

Medibank CEO David Koczkar commented:

We have worked hard to deliver our lowest average premium increase in 21 years, recognising the importance of keeping private health insurance affordable.

While we know no one likes their premium to go up, healthcare costs are continuing to increase at a rate much higher than general inflation.

We support the Government’s commitment to reform the prostheses list, which could save the industry up to $500 million, with savings expected to be realised over the next 4 years. We remain committed to passing on any related savings to our customers through lower premium increases and we will continue to advocate for changes that support the long-term sustainability and affordability of private health insurance.

Medibank share price snapshot

Over the last 12 months, the Medibank share price has been on par with the market, up 12%. In comparison, the S&P/ASX 200 Index (ASX: XJO) has also risen by 12% over the same time frame.

It’s worth noting that Medibank shares reached a 52-week high of $3.62 in September, before moving in a sideways channel.

Medibank has a market capitalisation of roughly $9.3 billion, with approximately 2.75 billion shares on issue.

The post What’s happening to the Medibank (ASX:MPL) share price today? appeared first on The Motley Fool Australia.

More reading

• ASX 200 (ASX:XJO) midday update: Medibank and NIB rise, Bega sinks
• Why this top broker says the Medibank (ASX:MPL) share price will hit new, all-time highs in 2022
• Here are the top 10 ASX shares today
• The Medibank (ASX: MPL) share price has gone backwards this past month. Is it a buy?
• 2 ASX shares that tick all the right boxes for the long term: expert

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.

from The Motley Fool Australia https://ift.tt/3H4KjAz

Hydrogen, particularly the ‘green’ kind, has been the talk of the ASX in 2021, and many shares involved with the energy source have boomed.

With some of the ASX’s largest companies now having jumped on the hydrogen train, will the momentum continue in 2022?

Let’s take a look at what experts are predicting the new year will bring the hydrogen sector.

What might 2022 bring the hydrogen industry?

According to experts, the new year will likely see more companies moving into the hydrogen space. But does that mean the sector is a good investment?

Analysts from global research firm, Wood Mackenzie predicts 2022 will see established companies stepping in to bat for hydrogen – a trend we seem to be seeing in Australia.

The firm’s senior vice present of corporate research, Tom Ellacott, believes European majors will join the likes of Australia’s Fortescue Metals Group Limited (ASX: FMG) and Woodside Petroleum Limited (ASX: WPL) to commit to the greener energy source.

The United States’ renewable energy sector is also looking strong, according to Deloitte. The firm is predicting green hydrogen will continue its upwards trajectory in 2022, driven by renewables’ penetration of the energy grid.

Turning back to Australia, the Federal Government’s Resources and Energy Major Projects report for 2021 found that there’s already $185 billion invested in Australian hydrogen, carbon capture and storage, as well as ammonia projects. Therefore, new projects could soon be popping up all over the country.

But, according to Ausbil, while the hydrogen sector has huge potential, it also houses major risks. The investment manager’s analysts commented:

When we look across the hydrogen value chain there are still many unknowns regarding the competing technologies, but if you believe that green hydrogen will be successful, on the infrastructure side we see the biggest opportunities in the renewable energy sector …

Investing in renewable energy generation is a way for investors to benefit from the hydrogen thematic without underwriting a specific technology or speculative start-up risk.

The outlook for ASX 200 companies involved in hydrogen

Fortescue Metals

While Fortescue isn’t a renewable energy stock, its subsidiary, Fortescue Future Industries, is aiming to become a leader in the hydrogen industry.  

However, according to Morgans senior analyst, Adrian Prendergast, Fortescue’s focus on its renewable energy leg might be detrimental to its core iron ore business.

As the broker is predicting 2022 might be a tough year for iron ore, it’s maintained its ‘hold’ rating on the company’s shares and slapped them with a $16.90 price target.

Woodside Petroleum

While Woodside is copping major criticism from environmental groups, mostly over its Scarborough Development, the company is branching out into green energy technologies.

It’s planning to build what could be one of the world’s largest hydrogen and ammonia production facilities near Perth. It also holds numerous other hydrogen projects.

Prendergast believes the company’s hydrogen activities, as well as its other renewable energy branches, could “prove material” for the Woodside share price.

Morgans has rated the company’s shares an ‘add’ with a $29.95 price target.

How did smaller ASX hydrogen shares perform in 2021?

Other ASX shares involved in hydrogen include Pure Hydrogen Corporation CDI (ASX: PH2), Provence Resources Ltd (ASX: PRL), and Hazer Group Ltd (ASX: HZR).

Over 2021, their share prices have grown 500%, 1,320%, and 37% respectively.

No doubt, there will be plenty of eyes watching their movements in 2022.

The post What are experts saying to expect for ASX hydrogen shares in 2022? appeared first on The Motley Fool Australia.

More reading

• Woodside (ASX:WPL) just signed a key hydrogen export MOU. What does this mean for its shares?
• 5 things to watch on the ASX 200 on Thursday
• Own Fortescue Metals (ASX:FMG) shares? Here’s what to watch in 2022
• These 5 ASX shares grew revenue by more than 70% in the last year
• 5 things to watch on the ASX 200 on Wednesday

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

from The Motley Fool Australia https://ift.tt/3z0rawY

Shares in tech and resources player Strategic Elements Ltd (ASX: SOR) are shooting higher today after an announcement the company released earlier today regarding its Stealth AxV Automation & Robotics Platform.

At the time of writing, the Strategic Elements share price is trading 23.2% higher at 26.5 cents apiece.

Here are the details.

What did Strategic Elements announce?

In today’s release, Strategic advised that its 100% owned Stealth AxV Automation & Robotics Platform successfully achieved multiple development and program milestones across 3 applications under development. These include the autonomous security vehicle (ASV), autonomous CBRN agent detection and autonomous mining applications.

Stealth Technologies is collaborating with software-industrial company Honeywell to develop autonomous security vehicles for the correctional sector.

The company says that the ASV seamlessly integrates into the prison’s security management platform and can autonomously test key perimeter intrusion detection systems (PIDS) like photo-electric beams, microphonic sensors and fibre-optic fence sensors.

Strategic Elements also reported that the ASV has successfully completed “thousands of operational tests of advanced perimeter intrusion detection systems at a Western Australian prison facility”.

The release noted that the ASV successfully fed hundreds of hours of mobile HD surveillance video to the prison’s Patrol Control Centre while autonomously testing and patrolling the secure perimeter.

Stealth intends to run the ASV at a Western Australian prison until the end of 2021 and then conduct a full review and assessment of ASV missions made to date. Discussions on a commercial agreement between Stealth Technologies and Honeywell are continuing.

Mining probe to start

The company also notes that its Stealth platform will start a phased pilot investigation with a global mining company that owns “tier-1 world-class assets” on its books.

Phase 1 of the investigation involves validating the potential suitability of a Stealth technology solution and therefore incurs no payment milestone. It is intended that Phase 1 will complete in the first quarter of 2022, according to the announcement.

Management commentary

Speaking on the announcement, Strategic Elements managing director Charles Murphy said:

Stealth Technologies has built a world first automation and robotics technology for the correctional sector to increase security, save costs and re-deploy staff away from mundane, repetitive tasks. It is satisfying that real world outcomes are starting to be reported that indicate the robustness and reliability of the ASV.

Murphy concluded:

It’s a good example of a start-up with innovative IP, a large company with domain knowledge and a research organisation with deep expertise coming together to solve a real, customer identified problem.

We have a direct line with domain knowledge for Autonomous CBRN Detection by working with DSTG and are keen to replicate this experience in the mining sector where we are in the early stages of a relationship with a global mining company.

Strategic Elements share price snapshot

The Strategic Elements share price is catching bids in response to the announcement today, trading as high as 28 cents per share before smoothing off to its current levels.

The Strategic Elements share price has gained more than 65% in the last 12 months after rallying another 32.5% this year to date.

The post Here’s why the Strategic Elements (ASX:SOR) share price is rocketing 23% today appeared first on The Motley Fool Australia.

More reading

• What are experts saying to expect for ASX hydrogen shares in 2022?
• Blackstone Minerals (ASX:BSX) share price climbs on nickel news
• Why Afterpay, Bega, FAR, and WiseTech shares are falling
• What are experts saying to expect for the South32 (ASX:S32) share price in 2022?
• Which days is the ASX open and trading over Christmas?

The author has no positions 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.

from The Motley Fool Australia https://ift.tt/3yTJ3NZ

The Blackstone Minerals Ltd (ASX: BSX) share price is in the green today after the company provided a nickel update about its project in Vietnam.

Shares in the mining exploration company were swapping hands at 56 cents apiece in afternoon trading, up nearly 1%. They were as high as 59 cents in early trade.

What did the company announce?

The Blackstone Minerals share price is climbing after the company provided an update on its Ta Khoa nickel project in northern Vietnam. The company holds a 90% stake in the project.

This resource includes the Ban Phuc and Ban Khoa disseminated sulphide (DS) deposits and the Ban Chang and King Snake massive sulphide vein (MSV) deposits.

A drilling expedition over the past year has uncovered 485 kilotonnes of nickel at the project, representing a 73% increase.

Commenting on the news driving the Blackstone Minerals share price, managing director Scott Williamson said:

An aggressive drill over the past 12 months has culminated into a global Ta Khoa mineral resource of enviable scale and increased confidence. Our mineral resource is an early indication of the potential of the Ta Koa nickel sulphide district, with further agressive testing already ongoing.

Ban Phuc, our large bulk tonnage disseminated sulphide deposit, will underpin base load feed to a large concentrator that is being examined in our upstream pre-feasibility study.

Ban Chang and King Snake are the first of many high-grade massive sulphide opportunities and the company continues to work diligently to increase surety of nickel supply for our downstream refinery in Vietnam, with exploration and resource delineation at Ta Khoa being a core part of our strategy.

What else is happening?

After releasing the nickel update to the market, Blackstone Minerals advised investors it has completed a share placement.

The company placed 56,692,782 new shares on the market at 58 cents, raising nearly $33 million before costs. Shareholder approval for this placement was received on December 16. An earlier share placement on November 10 raised $55 million.

Blackstone Minerals share price snapshot

The Blackstone Minerals share price has soared in the past 12 months, gaining 53%. Year to date, the company’s shares are up 47%.

For perspective, the S&P/ASX 200 Index (ASX: XJO) has returned more than 11% to investors in the past year.

Shares in the Blackstone have stagnated over the past month and are down 4% in the past week.

The company commands a market capitalisation of roughly $218 million based on the current share price.

The post Blackstone Minerals (ASX:BSX) share price climbs on nickel news appeared first on The Motley Fool Australia.

More reading

• Why Afterpay, Bega, FAR, and WiseTech shares are falling
• What are experts saying to expect for the South32 (ASX:S32) share price in 2022?
• Which days is the ASX open and trading over Christmas?
• Here’s why the Antipa Minerals (ASX:AZY) share price jumped 6% today
• Here’s why the Prospect Resources (ASX:PSC) share price just rocketed 27%

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.

from The Motley Fool Australia https://ift.tt/3pmdc5m

The S&P/ASX 200 Index (ASX: XJO) is on course to record another gain. In afternoon trade, the benchmark index is up 0.35% to 7,391.6 points.

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

Afterpay Ltd (ASX: APT)

The Afterpay share price is down 2.5% to $85.26. This follows a pullback by the Square/Block share price overnight despite solid gains in the tech sector. As Afterpay has agreed to be acquired by Square in an all-scrip deal, the value of the takeover will rise and fall with its share price.

Bega Cheese Ltd (ASX: BGA)

The Bega share price has sunk 10% to $5.05. Investors have been selling the diversified food company’s shares after the release of underwhelming FY 2022 guidance. Bega has provided guidance for normalised EBITDA in the range of $195 million to $215 million. While this will be an increase of 37% to 51% year on year, it was well short of the market’s expectations.

FAR Ltd (ASX: FAR)

The FAR share price is down a massive 51% to 36.5 cents. Investors have been selling this energy explorer’s shares after its search for oil was fruitless. According to its update, the company has been drilling the Bambo-1ST1 well offshore The Gambia. However, after drilling to a depth of 3317 metres, no live oil columns were found to be present.

WiseTech Global Ltd (ASX: WTC)

The WiseTech share price is down 2.5% to $58.70. This morning the logistics solutions company announced that its founder and CEO, Richard White, has entered into a transaction involving the sale of 4.3 million WiseTech shares. This equates to approximately 1.3% of the total issued capital of WiseTech.

The post Why Afterpay, Bega, FAR, and WiseTech shares are falling appeared first on The Motley Fool Australia.

More reading

• ASX 200 (ASX:XJO) midday update: Medibank and NIB rise, Bega sinks
• Here’s why the FAR (ASX:FAR) share price is sinking 51% to an all-time low
• Why the Bega (ASX:BGA) share price is sinking 9% today
• Why is the Afterpay (ASX:APT) share price soaring 5% today?
• Why Afterpay, Lovisa, Liontown, and Pilbara Minerals shares are racing 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 AFTERPAY T FPO and WiseTech Global. The Motley Fool Australia owns and has recommended AFTERPAY T FPO and WiseTech Global. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

from The Motley Fool Australia https://ift.tt/3mt9mWa

Even though there is still more than a week to go until the end of 2021, we can say with relative confidence that the South32 Ltd (ASX: S32) share price is heading for a very successful year. In 2021 year to date, the South32 share price has appreciated by roughly 59.8%. That’s including today’s 0.76% increase thus far to $4 a share at the time of writing.

So unless some catastrophic share price crash happens with Sotuh32 over the next week or so (we can never rule these things out entirely), South2332 will end the year on quite a high. This was a company that started 2021 at $2.62 a share, after all. South32 now has a 52-week range of between $2.44 and $4.07. As you can tell, today it is a lot closer to that high than the low.

But now that 2021 is almost in the rear-view mirror, what could 2022 hold in store for this diversified ASX 200 resources share? Well, South32 is a mining company, and as such, its fortunes largely rest on the prices of the commodities it mines. Higher prices mean higher profits and vice versa. South32 has significant operations extracting lead, silver, nickel, aluminium and manganese, amongst others.

ASX experts give South32 shares a ‘buy’ rating

Well, one expert investor reckons the best could still be to come for South32. ASX broker Goldman Sachs currently rates Sotuth32 as a ‘conviction buy’. It has a 12-month share price target of $4.40 for South32, which implies a potential upside of another 10.55% on current pricing.

This upside is to be driven by commodity pricing, according to the broker. Goldman sees an especially strong environment for aluminium, nickel and manganese in particular over at least the next year. Further, Goldman likes South32’s strong free cashflow outlook, anticipating a free cashflow yield of 16-18% over FY2022 and FY23. This, the broker anticipates, will enable South32 to fund significant dividends and share buybacks as well. It is expecting South32 to pay out dividends worths around a 12-13% yield in FY22 and FY23.

As my Fool colleague James covered earlier this month, Goldman isn’t the only broker bullish on South32. Morgans also has this ASX 200 miner on its buy list, this time with a share price target of $4.10. Morgans likes South32’s diversification compared to the iron ore-dominated portfolios of BHP Group Ltd (ASX: BHP), Rio Tinto Limited (ASX: RIO) and Fortescue Metals Group Limited (ASX: FMG).

So that’s what a couple of expert investors anticipate for the South32 share price in 2022. No doubt investors will have their fingers crossed their predictions are accurate!

The post What are experts saying to expect for the South32 (ASX:S32) share price in 2022? appeared first on The Motley Fool Australia.

More reading

• These 3 ASX 200 shares are topping the volume charts on Monday
• Here are the 3 most heavily traded ASX 200 shares this Friday
• These 3 ASX 200 shares are topping the volume charts on Thursday
• 2 excellent ASX 200 dividend shares to buy
• Where next for the South32 (ASX:S32) share price after rising 54% in 2021?

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

from The Motley Fool Australia https://ift.tt/3pmd45S