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The All Ordinaries Index (ASX: XAO) is finally having another day in the green so far this Tuesday. At the time of writing, the All Ords is up 1.13% to 7,614 points. But one ASX share isn’t at the table for these gains. That would be the Johns Lyng Group Ltd (ASX: JLG) share price.

Johns Lyng shares aren’t at the table because the company is currently in a trading halt.

Yes, before the market opened this morning, this ASX company released an announcement outlining the halt. Well, halts. The company stated it requested “consecutive trading halts”, with the expectation that Johns Lyng shares will only return to the markets on 13 December (next Monday).

So why has the company requested these halts? Johns Lyng Group said it is “in connection with a material transaction and a capital raising involving an institutional placement and a pro-rata accelerated non-renounceable entitlement offer”.

It stated the trading halt was necessary “to avoid trading taking place on an uninformed basis and to allow the capital raising to be executed in an orderly manner”.

And that’s essentially all we know for now.

Johns Lyng Group share price snapshot

Johns Lyng Group is in the business of providing building services, both domestically and internationally. It specialises in restoring property and goods after natural disasters such as floods and fires.

The company has had a rip-roaring 2021 so far. The Johns Lyng share price is up more than 121% year to date, and up 132% over the past 12 months.

At the last share price of $7.14 that Johns Lyng traded at, the company had a market capitalisation of $1.6 billion, worth a dividend yield of 0.7%.

The post What’s going on with the Johns Lyng (ASX:JLG) share price today? appeared first on The Motley Fool Australia.

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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.

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The Pure Hydrogen Corporation Ltd (ASX: PH2) share price is leaping to incredible highs on Tuesday. This comes after the company announced a positive update that is likely to create a new revenue stream.

At the time of writing, the energy company’s shares are fetching for 51 cents apiece, up 22.89%.

Pure Hydrogen launches portable electricity units

Investors are driving up Pure Hydrogen shares today following the company’s latest announcement.

In today’s statement, Pure Hydrogen advised that it has released a range of hydrogen fuel cell power generation units to the market. The products were made in conjunction with H2X Global Limited, which Pure Hydrogen currently has a 24% interest in.

Named Power H2, the units can generate clean electricity without any emissions using hydrogen as a fuel. Power H2 comprises a hydrogen fuel cell and a small hydrogen storage tank for fuel storage. They come in four sizes, ranging from 5 kilowatt (kw), 20kw, 50kw and a 100kw capacity.

The units can be used to supply electricity for an infinite number of purposes. This includes powering mobile communication towers, businesses, hospitals, households, farms and mine sites.

While the retail price was not disclosed, Power H2 units will be available for sale within the first quarter of 2022.

In addition, the company is currently working with industrial users to supply back-to-base fuelling solutions, off-take agreements and vehicle supply.

Pure Hydrogen managing director, Scott Brown commented:

The Power H2 units have at their heart hydrogen fuel cells and powertrain that have been developed over several years. Customers are now been engaged.

The Power H2 units demonstrate H2X’s ability to bring hydrogen-powered products to market successfully given their strong technology skills and established manufacturing and logistics supply chain which helps to bring product to market efficiently. Their technology is at the forefront of the hydrogen revolution and it is great to see it being implemented commercially.

Pure Hydrogen share price snapshot

Over the past 12 months, Pure Hydrogen shares have accelerated by more than 500% for investors. When looking at year-to-date, its share price performance is just as impressive, up 480% for the period.

Pure Hydrogen commands a market capitalisation of roughly $172.60 million, with approximately 338.44 million shares outstanding.

The post Why the Pure Hydrogen (ASX:PH2) share price is powering 22% ahead today? appeared first on The Motley Fool Australia.

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• Pure Hydrogen (ASX:PH2) share price plunges 9% despite ‘excellent results’
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• Why did the Pure Hydrogen (ASX:PH2) share price sink 9% today?
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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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The Flight Centre Travel Group Ltd (ASX: FLT) share price is taking off today despite the company’s silence.

However, it’s not alone in its gains. Last night, while much of Australia slept, international travel and airline stocks soared.

Additionally, Flight Centre’s ASX travel peers, including Webjet Limited (ASX: WEB) and Qantas Airways Limited (ASX: QAN), are also surging on Tuesday.

At the time of writing, the Flight Centre share price is $18.30, 6.15% higher than its previous close.

For context, the S&P/ASX 200 Index (ASX: XJO) is up 1.01% right now.

Let’s take a look at what might be driving ASX travel shares higher today.

What might be boosting the Flight Centre share price?

The Flight Centre share price might be gaining amid rising confidence of a reunited holiday period.

Yesterday afternoon, Queensland Premier Annastacia Palaszczuk announced the state would reopen its borders to quarantine-free travel from domestic hotspots earlier than expected.

The reopening has been moved forward to 13 December after Queensland’s vaccination rate rose faster than anticipated.

Additionally, the Flight Centre share price might be buoyed by news the Omicron variant of COVID-19 seems to cause more mild symptoms than other variants.

The United States’ chief medical advisor to the President, Dr Andrew Fauci told CNN data on the severity of the Omicron variant is looking “encouraging” so far:

Thus far, it does not look like there’s a great degree of severity to it, but we really gotta be careful before we make any determinations that it is less severe.

Fauci’s comments came as a fourth wave of new cases hit South Africa, with the BBC reporting the Omicron variant has become the dominant strain in the country.

According to South Africa’s National Institute for Communicable Diseases, new recorded cases of COVID-19 soared from just 2,273 last Monday to 16,055 on Friday. That represents a 606% increase.

However, hospitalisations in the country aren’t rising at the same rate. 79 people were admitted to the country’s hospitals with COVID-19 last Monday while, on Friday, 279 were admitted. That marks an increase of 253%.

Right now, the Flight Centre share price is almost 15% higher than it was at the start of 2021. Though, it has fallen 9% since this time last month.

The post Why is the Flight Centre (ASX: FLT) share price soaring 6% higher today? appeared first on The Motley Fool Australia.

More reading

• Here’s why ASX 200 travel shares are taking off today
• Flight Centre (ASX:FLT) shares have a 13% short interest. What does this mean?
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• Why has the Webjet (ASX:WEB) share price had such a lousy start to December?
• Winning shares for 2022: the companies experts are backing revealed at Sohn

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Flight Centre Travel Group Limited and Webjet 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 Minerals 260 Ltd (ASX: MI6) share price is surging higher today, up 10.2% in afternoon trading to 54 cents.

Below we take a look at the ASX resource explorer’s project update that looks to be spurring investor interest.

What project update was announced?

The Minerals 260 share price is soaring after the company reported it is speeding up exploration work at its Moora and Koojan JV projects.

Both projects are located in Western Australia’s Julimar Mineral Province. Minerals 260 is the 100% owner of Moora and in a joint venture (JV) with Lachlan Star Limited (ASX: LSA) at Koojan. The Lachlan share price is up 11% today.

Minerals 260 has so far drilled 6 diamond core holes at its Angepena gold prospect in Moora. Drilling commenced on 4 November to follow up on promising gold intersections struck earlier this year.

Assays are still pending for all 6 holes drilled with initial results expected in January. The company plans to drill 7 more diamond core holes at Angepena totalling some 2,000 metres. That should also be completed in January.

Minerals 260 has also recently commenced a reverse circulation (RC) drilling program at the project. It plans to drill up to 35 holes for approximately 5,000 metres.

Commenting on the announcement likely pushing up the Minerals 260 share price today, managing director David Richards said:

Diamond drilling has confirmed the presence of mafic/ultramafic hosted sulphide-related mineralisation and highlighted the exciting potential, not only of the Mt Yule magnetic anomaly but also the rest of the projects – where numerous targets remain to be tested.

While it is early days, we are very encouraged by what we are seeing in the Angepena drill core. However, we caution investors that until assays are received, we cannot draw any conclusions. Our objective is to build on the exploration data collected so far and systematically work towards the opportunity for a significant discovery.

The company has $6.7 million in the budget for its first 12 months of exploration following its 12 October listing on the ASX.

Minerals 260 share price snapshot

Minerals 260’s initial public offering (IPO) raised $30 million at a listing price of 50 cents per share.

The Minerals 260 share price leapt higher that day to close at 60 cents and reached an all-time closing high of 77 cents per share on 15 November. Since then shares have retraced.

Since the closing bell on its first day of trading, Minerals 260’s shares are down 10%.

The post Here’s why the Minerals 260 (ASX:MI6) share price is leaping 10% today appeared first on The Motley Fool Australia.

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• Why is the Minerals 260 (ASX:MI6) share price rocketing 21% today?

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 S&P/ASX 200 Index (ASX: XJO) has followed the lead of Wall Street and is on track to record a strong gain. In afternoon trade, the benchmark index is up 1% to 7,320.5 points.

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

Carsales.Com Ltd (ASX: CAR)

The Carsales share price is down 2.5% to $24.90. This follows the release of the auto listings company’s investor day update this morning. At the event, the company reiterated its FY 2022 outlook statement provided at its annual general meeting in October. Some investors may have been hoping for a guidance upgrade today.

Magellan Financial Group Ltd (ASX: MFG)

The Magellan share price is down 6.5% to $29.06. Investors have been selling this fund manager’s shares after it announced the surprise exit of its Chief Executive Officer, Dr Brett Cairns. The release explains that Dr Cairns is leaving for personal reasons. Magellan has promoted its Chief Financial Officer, Ms Kirsten Morton, to the top job on an interim basis.

Nickel Mines Ltd (ASX: NIC)

The Nickel Mines share price is down 4% to $1.34 despite there being no news out of it. However, this nickel producer’s shares have been on fire in recent weeks. So much so, even after today’s decline, they are up 34% since this time last month. This could have led to some investors taking a bit of profit off the table on Tuesday.

Sigma Healthcare Ltd (ASX: SIG)

The Sigma Healthcare share price has continued its slide is down almost 6% to 45.7 cents. This morning the team at Credit Suisse downgraded the pharmacy chain operator’s shares to a neutral rating in response to its disappointing trading update on Monday. That update revealed that Sigma has revised its earnings guidance lower in FY 2022 due partly to issues with the rollout of its ERP system.

The post Why Carsales, Magellan, Nickel Mines, and Sigma shares are dropping appeared first on The Motley Fool Australia.

More reading

• Leading brokers name 3 ASX shares to sell today
• ASX 200 (ASX:XJO) midday update: Zip update impresses, BOQ rises
• Why the Magellan (ASX:MFG) share price is sinking to 52-week lows
• 5 things to watch on the ASX 200 on Tuesday
• Why Bapcor, Kogan, Sigma, and Zip shares are dropping today

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 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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The S&P/ASX 200 Index (ASX: XJO) is finally giving investors some relief today with a positive session thus far. At the time of writing, the ASX 200 is up a healthy 0.61% at 7,289 points.

So let’s dig a little deeper and check out the ASX 200 shares currently topping the ASX volume charts today, according to investing.com.

3 most active ASX 200 shares by volume on Tuesday

South32 Ltd (ASX: S32)

Diversified ASX 200 miner South32 is the first share experiencing elevated trading volumes today. So far this Tuesday, a hefty 10.57 million South32 shares have changed hands. There has been no official news or announcements out of the company so far. So we can probably put this volume down to the nasty fall the company’s shares have endured today.

South32 is currently down 1.35% at $3.65 a share, defying the positive sentiment of the broader market. Together with this miner’s ongoing share buyback program, and we have the likely reason why South32 makes this list today.

Zip Co Ltd (ASX: Z1P)

Buy now, pay later (BNPL) share Zip is next up this Tuesday. This ASX 200 company has seen a sizeable 12.24 million shares swap owners as it currently stands. We don’t have to look too far for this one. This high volume is the likely result of the pleasing 7.83% jump to $4.68 a share that Zip Co has enjoyed today.

As we covered this morning, this jump comes after the company delivered a performance update for November today. Zip told the markets that its annualised transaction volume hit $10 billion over last month. Evidently, investors were impressed.

Telstra Corporation Ltd (ASX: TLS)

Telstra is our final and most traded ASX 200 share this Tuesday so far. The telco has seen 13.7 million of its shares bought and sold at this stage of the trading day. Unlike Zip, we can’t point to anything concrete to explain this move. The Telstra share price is currently up by 0.12% at $4.02 a share. However, it rose as high as $4.05 this morning before cooling off at its current level. It’s this volatility that might be behind this elevated trading volume we are seeing.

The post Here are the 3 heaviest traded ASX 200 shares this Tuesday so far appeared first on The Motley Fool Australia.

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Motley Fool contributor Sebastian Bowen owns shares of Telstra Corporation Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended ZIPCOLTD FPO. The Motley Fool Australia owns shares of and has recommended Telstra Corporation 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 health insurance giant Medibank Private Ltd (ASX: MPL) are inching lower in afternoon trade and are changing hands less than 1% down at $3.36.

But zooming out on Medibank’s chart, it looks as if a 4-year old drew it while trying to stay within the lines.

The stock has rallied as high as $3.62 and traded as low as $3.32 in the 3-month period to date, and is down more than 7% in that time.

This may spark the interest of those who identify the recent share price pullback as a potential buying point. Let’s see what the experts think.

Is Medibank a buy right now?

The team at Morgans gives a mixed review of the Medibank share price. While the firm acknowledges the company’s policyholder growth statistics and operating margins are robust, it also recognises the share is trading near its fair value.

Even though Medibank reaffirmed its FY21 guidance measures in its AGM, Morgans alludes to a mild upgrade to the company’s FY22 policyholder growth estimates.

It notes that Medibank is “getting a good recent track record of upgrading policyholder growth guidance, with [the] upgrade following three similar ones in FY21”.

Even as it raised its valuation of Medibank shares to $3.55, the firm retained its hold rating and doesn’t advocate it as a buy right now.

The team at JP Morgan agrees and rates Medibank as neutral with a $3.30 share price target.

JP Morgan holds the theory that people will be more vigilant with their healthcare as a result of the pandemic. The investment bank cites regulator data for the 3 months until 30 September 2021, alluding to a 63,000 growth in private health fund membership.

However, whilst this is a step-up from previous numbers, the rate of growth in new memberships has slowed. Most notably, the 25-34-year-old age bracket recorded the largest falls.

Even in older age groups, JP Morgan says, “The proportion of members over the age of 70 years continues to expand which we attribute to the aging of the membership.”

From the list of analysts provided by Bloomberg Intelligence, 69% have Medibank as a hold whereas just 31% rate it as a buy.

Medibank share price summary

In the last 12 months, the Medibank share price has gained more than 18%, rallying almost 12% this year to date.

However, in the last month of trading, it has reversed course and is now more than 3% in the red in that time.

The post The Medibank (ASX: MPL) share price has gone backwards this past month. Is it a buy? appeared first on The Motley Fool Australia.

More reading

• 2 ASX shares that tick all the right boxes for the long term: expert
• Why has the Medibank (ASX:MPL) share price leapt 8% in November so far?
• Here’s how the Medibank (ASX:MPL) share price has performed against the ASX200 in the last 3 months

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.

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Shares in critical metals producer Australian Strategic Materials Ltd (ASX: ASM) are losing ground and are now down 11% on the day at $10.13.

ASM shares lost territory directly from the open as investors responded poorly to an announcement on the company’s Dubbo project optimisation. Here are the details.

What was announced?

ASM confirmed “strong financial results as an outcome of the Optimisation Study and Enhanced Project Addendum” for its Dubbo project.

The study was based on Alkane Resources Ltd’s optimisation study that was released to the market way back in 2018.

ASM advised the revised financials are based only on the initial ore reserve of 18.9 million tonnes (Mt). Substantial additional measured and inferred mineral resources beneath the ore reserve are excluded from this study, per the release.

The updated base case for the 20-year life of mine is expected to achieve a pre-tax net present value (NPV) of $2.361 billion on a pre-tax project internal rate of return (IRR) of 23.5%.

ASM notes that this is a 6% improvement on the pre-tax IRR compared to the 2018 study.

The company also says that the optimisation simplifies the Dubbo Project process flow sheet, and incorporates “new operating strategies that will reduce operating costs and improve the ESG performance” of the site.

Examples of such strategies include increasing the brine concentrator capacity, thereby halving water consumption; refurbishment of the railway line to simplify project logistics and provide new categories of local entry level jobs; and the development of a “chlor-alkali plant” – reducing the cost of reagents and their transportation.

According to ASM, these strategies facilitate ESG benefits by “reducing water consumption, reducing the handling and quantum of process chemicals, and reducing the number of trucks on local roads, required for the Dubbo Project”.

 Management commentary

Speaking on the announcement, ASM Managing Director, David Woodall said:

I am delighted with the outcomes of the Optimisation Work which demonstrates the financial strength of the Dubbo Project and ASM’s focus on a sustainable future delivering improved performance and ESG outcomes. The Optimisation Work supports a strong go forward case and is an exciting development for ASM, our partners and shareholders. The Optimisation Work confirms we have a project that can integrate into our metals business to create an alternate, sustainable, secure and stable long-term supply of critical metals and oxides. This places ASM in an exceptional position in the critical metals value chain, as the vertically integrated owner of a globally significant polymetallic resource in Dubbo, and the capability to produce critical metals from this resource to the highest environmental standards.

In the past 12 months, the Australian Strategic Materials share price has soared over 137% after rallying a further 58% this year to date.

Over the last month, it has reverted back down sharply and now trades 22% in the red over that time, and is a further 19% down over the last week of trade.

The post Australian Strategic Materials (ASX:ASM) share price loses 11% despite ‘strong financial results’ appeared first on The Motley Fool Australia.

More reading

• Why is the Australian Strategic Materials (ASX:ASM) share price halted?

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.

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The Alcidion Group Ltd (ASX: ALC) share price is frozen today with the company announcing it will acquire Silverlink PCS Software Limited.

The healthcare technology company’s shares were at 32 cents before the trading halt was announced just before the market open.

Let’s take a look at what is going on at Alcidion today.

What’s happening with Alcidion?

The Alcidion share price was halted today after the company announced it had signed a binding share purchase agreement to acquire UK software company Silverlink. The acquisition will be funded through a capital raise.

Silverlink Software is one of the most widely used patient administration systems in the UK National Health System (NHS).

The $55 million capital raise will include a $30 million share placement and a $25 million entitlement offer of 1 new share for every 10.5 existing shares.

Shares for the placement will be offered at 25 cents apiece. That’s a 21.9% discount on the last closing price of 32 cents.

Roughly 220 million new shares will be issued to the market as part of this capital raise.

Alcidion develops and licenses a range of software products for use in the healthcare sector. It now plans to expand its UK presence to 38 NHS trusts, or 26% of the market.

Management commentary

Speaking on the news that’s halted the Alcidion share price today, CEO Kate Quirke said:

This acquisition is very exciting for Alcidion and clearly aligns with our acquisition strategy of expanding our product offering, increasing our UK market presence, and providing a positive contribution to our financial performance.

We welcome the Silverlink team of 11 staff who together with our own senior leadership team have decades of product development, sales, and implementation experience in Patient Administration Systems.

Alcidion share price snapshot

Shareholders have recorded gains of almost 73% in 2021. Looking at the bigger picture, the last 12 months have seen the Alcidion share price surge by around 48%.

Alcidion reached a yearly high of 49 cents in June, while January delivered the yearly low of 18 cents.

The post Alcidion (ASX:ALC) share price halted amid acquisition news appeared first on The Motley Fool Australia.

More reading

• Why the Alcidion (ASX:ALC) share price is rocketing 11% higher
• 2 growing small cap ASX shares to watch
• 3 exciting small cap ASX shares to watch

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Alcidion Group Ltd. The Motley Fool Australia has recommended Alcidion Group 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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Yesterday we looked at three ASX shares brokers have given buy ratings to this week.

Unfortunately, not all shares are in favour with them right now. Three that have just been given sell ratings are listed below. Here’s why these brokers are bearish on these ASX shares:

Boral Limited (ASX: BLD)

According to a note out of Morgan Stanley, its analysts have retained their underweight rating and $6.10 price target on this building products company’s shares. This is despite the company announcing the sale of its US based Fly Ash business and the broker expecting the majority of these funds to be returned to shareholders. Morgan Stanley remains bearish and continues to forecast a sharp decline in half year earnings. The Boral share price is trading at $6.13 on Tuesday afternoon.

Commonwealth Bank of Australia (ASX: CBA)

A note out of Morgans reveals that its analysts have retained their reduce rating and $73.00 price target on this banking giant’s shares. This follows a review of the banking sector. While Morgans is positive on the sector, it continues to believe the CBA share price is overvalued at the current level. The broker has previously stated its belief that the premium its shares trade at to the other big banks is unjustifiably large. The CBA share price is fetching $96.98 today.

Magellan Financial Group Ltd (ASX: MFG)

Analysts at UBS have retained their sell rating and $29.50 price target on this fund manager’s shares. This follows the release of Magellan’s latest funds under management update. While the broker was pleased to see the company’s run of net outflows come to an end in November, it wasn’t enough for a change of rating. UBS continues to see risk to the downside for its revenue and funds given the investment underperformance of its flagship fund. The Magellan share price is now trading below this price target at $28.90 after falling 7% today.

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

More reading

• ASX 200 (ASX:XJO) midday update: Zip update impresses, BOQ rises
• Why the Magellan (ASX:MFG) share price is sinking to 52-week lows
• 5 things to watch on the ASX 200 on Tuesday
• Can NAB (ASX:NAB) shares ever close in on CBA’s market cap?
• Why Boral, Metcash, Silver Lake, and Strike Energy 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. 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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