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Shares in Pure Hydrogen Corporation Ltd (ASX: PH2) are losing ground in afternoon trade today and are now almost 9% down at 40.5 cents apiece.

The plunge comes even as there is no market-sensitive information from the company. Although Pure Hydrogen did provide an update on its Botswana Serowe gas project. Read on for more.

What did Pure Hydrogen announce?

Pure Hydrogen advised that it encountered significantly more coal than pre-drill estimates at its gas project in Botswana.

Specifically, its Serowe 4 well encountered 31 metres of interpreted gassy coal seams, a result more than 150% thicker than predrilled estimates.

Further, its Serowe 5 well is spudded and is proceeding ahead with the depth of the well at 350 metres. It says the well will be drilled to total depth, which is estimated at 470 metres, after which logs will be run for the well.  

As a result of the thicker coals encountered at Serowe 4, the cost of “proving a multi Trillion Cubic Feet coal seam gas field in central southern Africa can be substantially reduced”.

The release notes that the Botswana Serowe Gas Project has received third-party certified 2C resources of 160.6 billion cubic feet and Prospective Resources of 10.07 trillion cubic feet.

As previously stated by the company in November, the estimates of Contingent Resources for the project were “prepared in accordance with the 2018 Petroleum Resources Management System (PRMS)”.

The “Contingent Resources” will be revised again in 2022 after the results of Serowe 4 and 5, per the announcement.

Pure Hydrogen also advised it is progressing its joint venture with Botala within Southern Africa and has “identified potential offtake parties and sites that could be used for a Hydrogen Business”.  

Investors can expect further details of these initiatives in the coming weeks, according to the announcement.

Speaking on the release today, Pure Hydrogen Managing Director Scott Brown mentioned:

The Serowe Gas Project is shaping up well with the continuation of excellent results to date from the multi-well appraisal program, particularly the much thicker gassy coal seams in Serowe 3 and now Serowe 4.

Pure Hyrdrogen share price snapshot

Despite today’s dip, the Pure Hydrogen share price has gained more than 406% in the past 12 months after rallying another 360% this year to date.

Yet, in the past month, it has fallen 21% in the red and is also down more than 13% in the last week of trading.

The post Pure Hydrogen (ASX:PH2) share price plunges 9% despite ‘excellent results’ appeared first on The Motley Fool Australia.

More reading

• Why are ASX hydrogen shares tumbling today?
• Pure Hydrogen (ASX:PH2) share price rebounds 5% on project upgrade
• Why did the Pure Hydrogen (ASX:PH2) share price sink 9% today?
• Pure Hydrogen (ASX:PH2) share price leaps 9% as first plant set to be operational next year
• Pure Hydrogen (ASX:PH2) share price rockets 25% amid major plant production news

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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Retail conglomerate Wesfarmers Ltd (ASX: WES) is looking to channel some of Amazon.com, Inc. (NASDAQ: AMZN) magic to save its struggling department stores.

The ASX retail group selected Amazon to provide cloud-services to boost online sales of its embattled Target outlets, reported the Australian Financial Review.

Who better to provide such expertise than the world’s largest online retailer that have made it an artform to target and track online consumers?

Wesfarmers’ Amazonian task

Wesfarmers picked Amazon Web Services (AWS) over Microsoft Corporation’s (NASDAQ: MSFT) Azure, which is used by Woolworths Group Ltd (ASX: WOW).

The hope is that Amazon will be able to turnaround Wesfarmers’ Target department store. The chain is the Achilles’ heel in the business and the business has dragged on Wesfarmers’ financial performance for some years – even before COVID-19.

But the pandemic made a bad problem worse. Consumers were forced online to shop due to rolling lockdowns, and it’s retailers with the stronger web presence, like Temple & Webster Group Ltd (ASX: TPW) and Shaver Shop Group Ltd (ASX: SSG) that have benefitted.

Wesfarmers needing some Amazon retail magic

While Wesfarmers’ other retail brands like Bunnings and Officeworks aren’t exactly pre-pandemic online leaders either, they were at least allowed to operate during COVID restrictions as essential services.

Target’s general manager Samantha McIntyre noted that its systems weren’t up to the task before AWS, according to the AFR.

But now, Target’s website can manage surge in traffic during sales events and can provide more timely inventory checks for shoppers.

“We’ve got really big aspirations in the online space and really want to grow that, and we’re really super excited with how Black Friday went,” the AFR quoted McIntyre as saying.

“Sales of apparel, particularly kids wear was very strong, and now we are in our busiest period leading up to Christmas.”

Wesfarmers share price holding its ground

Target will need all the help it can get as it struggles to stand out in a highly competitive retail environment.

Wesfarmers owns some of the most well-known retail brands in the country. But it’s been slow to adopt the online shopping revolution despite buying Catch.com.au.

At least the conglomerate is moving quickly to close the digital divide. Shareholders will also be relieved that the Wesfarmers share price is holding up well with gains of around 17% in 2021.

That’s about in-line with the S&P/ASX 200 Index’s (Index:^AXJO). It’s also much better than the JB Hi-Fi Limited (ASX: JBH) share price, which is down around 3% for the year.

The post What do Wesfarmers (ASX:WES) and Amazon.com have in common? appeared first on The Motley Fool Australia.

More reading

• Why ANZ Bank (ASX:ANZ) is losing market share to other big ASX banks
• ASX 200 (ASX:XJO) midday update: Metcash jumps, Kogan and Zip sink
• Boral (ASX:BLD) share price jumps on $1bn fly ash sale
• 5 things to watch on the ASX 200 on Monday
• Could this be a fly in the ointment for Woolworths’ (ASX:WOW) push into healthcare?

John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Teresa Kersten, an employee of LinkedIn, a Microsoft subsidiary, is a member of The Motley Fool’s board of directors. Motley Fool contributor Brendon Lau has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Microsoft and Temple & Webster Group Ltd. The Motley Fool Australia owns shares of and has recommended Wesfarmers Limited. The Motley Fool Australia has recommended Amazon and Temple & Webster 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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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) has bounced back from its intraday lows and is trading just a fraction lower. At the time of writing, the benchmark index is down slightly to 7,238.2 points.

Four ASX shares that are not letting that hold them back are listed below. Here’s why they are pushing higher:

Boral Limited (ASX: BLD)

The Boral share price is up 2.5% to $6.32. This follows news that the building products company has signed an agreement to sell its US fly ash business for US$755 million (~A$1 billion). The good news is that some, or even all, of these funds are likely to be returned to shareholders.

Metcash Limited (ASX: MTS)

The Metcash share price is up 6% to $4.19. Investors have been buying this wholesale distributor’s shares following the release of a strong half year result. For the six months ended 31 October, Metcash reported a 1.3% increase in revenue to $7.2 billion and underlying profit after tax growth of 13.1% to $146.6 million. Metcash also revealed that the second half has started strongly.

Silver Lake Resources Limited (ASX: SLR)

The Silver Lake share price is up over 5% to $1.62. Investors have been buying this gold miner’s shares amid a rise in the gold price on Friday night. This was driven by increased demand for safe haven assets following a selloff in the tech sector. It isn’t just Silver Lake rising, the S&P/ASX All Ordinaries Gold index is up 2% at the time of writing.

Strike Energy Ltd (ASX: STX)

The Strike Energy share price has jumped 13% to 17 cents. This morning the energy company revealed that the Walyering-5 (W5) well has confirmed the presence of a high-quality, low CO2, conventional gas accumulation at the suspended Walyering gas field within the Perth Basin. These results have exceeded the company’s expectations.

The post Why Boral, Metcash, Silver Lake, and Strike Energy shares are pushing higher appeared first on The Motley Fool Australia.

More reading

• ASX 200 (ASX:XJO) midday update: Metcash jumps, Kogan and Zip sink
• Here’s why the Strike Energy (ASX:STX) share price surged 18% today
• Metcash (ASX:MTS) share price jumps 7% on strong half year results
• Boral (ASX:BLD) share price jumps on $1bn fly ash sale
• 5 things to watch on the ASX 200 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.

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Online interactions had become a common occurrence for many people even before the shift created by COVID-19. Though, our online experiences could be set to evolve from 2D videos into 3D immersive digital environments with the rise of the metaverse.

Investors might be wondering what the metaverse is, what companies are involved with it, and what its significance is. While some might be aware of Facebook’s name change to Meta Platforms Inc (NASDAQ: MVRS), the extent of the emerging industry goes beyond the bounds of the United States stock market.

So, let’s dive deeper into the metaverse.

What are metaverse stocks?

The metaverse is essentially the next step in the evolution of the internet. In reality, the concept isn’t exactly a new one. An online digital world where people interact with each other via virtual and/or augmented reality has been featured in pop culture. Prime examples of this include the movies Ready Player One, Tron, and The Matrix.

Over time, technology has progressed to the point where personal computers now have the processing power to render interactive 3D virtual environments. Combine this with the advances in virtual reality hardware, such as the Oculus Quest 2 (owned by Meta), and the possibility of working, socialising, and playing in a digital world is becoming possible.

In turn, the companies that are involved in making this possible are being dubbed ‘metaverse stocks’. As we mentioned before, Meta (previously Facebook) is a well-known example of this. However, there are a few ASX-listed companies that might fit into the metaverse stock category.

The first Aussie example of a company with metaverse exposure is game developer Playside Studios Ltd (ASX: PLY). Interestingly, in its November capital raising, the company said part of the proceeds would be going towards establishing a dedicated R&D team to blockchain gaming linked to the metaverse.

Another ASX-listed company with ties to the digital environment is the geospatial tech company Aerometrex Ltd (ASX: AMX). In October, the small-cap company announced that its 3D model of San Francisco would be used to create a metaverse. Specifically, Terrestrial Software Development purchased the model for $250,000 to develop its ‘Lunaverse’.

What’s behind the buzz?

The excitement surrounding the metaverse is palpable. This may not be surprising if it is set to be the next iteration of the internet. After all, some of the largest companies in the world have been built on the emergence of the internet. For example, Apple Inc (NASDAQ: AAPL), Microsoft Inc (NASDAQ: MSFT), and Alphabet Inc (NASDAQ: GOOGL).

Research published by Bloomberg last week indicated the metaverse could be an $800 billion market in 2024. Notably, the analysts believe game makers will expand their platforms to incorporate live events and social media. This sizeable opportunity means investors are salivating at the potential upside that metaverse stocks might offer.

The post What are Metaverse stocks and why is everyone talking about them? appeared first on The Motley Fool Australia.

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• Here’s why the PlaySide Studios (ASX:PLY) share price clocked it this morning
• PlaySide (ASX:PLY) share price on watch after landmark agreement with video game giant
• ASX 200 tech shares in focus as Nasdaq plunges 1.7%

Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool’s board of directors. Teresa Kersten, an employee of LinkedIn, a Microsoft subsidiary, is a member of The Motley Fool’s board of directors. Motley Fool contributor Mitchell Lawler owns shares of Apple and Meta Platforms, Inc. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Alphabet (A shares), Meta Platforms, Inc., and Microsoft. The Motley Fool Australia has recommended Alphabet (A shares), Alphabet (C shares), Apple, and Meta Platforms, 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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Monday was shaping up to be a great day for Novonix Ltd (ASX: NVX). Unfortunately, its share price took a turn for the worst this afternoon, plunging back into the red to build on Friday’s losses.

Novonix’s stock tumbled 32.4% lower on Friday despite the company’s silence, spurring a ‘please explain’ from the ASX.

Investors likely rejoiced earlier today when the company’s fortunes seemingly turned around. Its shares boosted 16% higher this morning to trade at $9.54.

However, at the time of writing, the Novonix share price has slid back down to $7.92. That’s 3.53% lower than it was at the end of Friday’s session.

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

Let’s take a closer look at what might be weighing on the lithium-ion battery technology company’s shares today.

Could this be why the Novonix share price is falling?

The Novonix share price’s movements today might have been spurred by two items of price-sensitive news released late on Friday.

The first came just over an hour before the market closed for the day. Then, the company released its response to the ASX’s query regarding its unexplained tumble.

Within the release, Novonix clarified that its recently retired director, Greg Baynton hasn’t sold any shares in the company.

The company said concerned shareholders had approached it regarding Baynton’s holdings following a final director’s interest notice, released on Thursday afternoon.

Such concerns might have weighed on the Novonix share price on Friday and could have been initially abated by the company’s announcement.

Novonix also pointed to a report by CNBC as a potential cause of its Friday in the red. The report claims that Tesla Inc (NASDAQ: TSLA) wants to extend a tariff waiver for Chinese graphite imported into the US.

Novonix quoted the outlet as saying: “Only mainland China could provide the quantity of graphite it needs … to manufacture its batteries in the US”.

As investors likely know, Novonix’s PUREgraphite business is working to produce graphite in Tennessee.

It plans to produce 10,000 tonnes of graphite annually by 2023, 40,000 tonnes annually by 2025, and 150,000 tonnes annually by 2030.

Additionally, as The Motley Fool Australia has previously reported, Novonix is often sensitive to news regarding Telsa. Such sensitivity is potentially due to its leaders’ ties with the car manufacture.

Finally, after Friday’s close, S&P Dow Jones Indices announced Novonix will soon be added to the ASX 200. The company’s inclusion will be effective as of 20 December.

By adding the company to the index, the esteemed body has likely helped legitimise the company as an ASX giant.

The news might have excited the market this morning, spurring the Novonix share price’s boom before the enthusiasm subsided.

The post Novonix (ASX:NVX) share price shrugs off this morning’s gains to plunge 4% lower appeared first on The Motley Fool Australia.

More reading

• Is the bubble bursting? Novonix (ASX:NVX) share price plunges 27%
• Novonix (ASX:NVX) share price combats today’s selloff to remain up 44% in a month. Here’s why
• These were the 5 best performing ASX shares in November
• Here are the top 10 ASX shares today
• Here are the top 10 ASX shares today

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.

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Shares in biopharma company Imugene Limited (ASX: IMU) are inching lower in afternoon trade and are now changing hands at 48.8 cents apiece, down 4.41%.

Whilst there’s been no market-sensitive information from the company today, its share price has slipped more than 16% in the past month amid a sector-wide selloff in ASX healthcare shares that’s been in situ since late November.

Let’s take a closer look.  

Why is the Imugene share price falling today?

Imugene was added to the S&P/ASX 200 Index (ASX: XJO) after its quarterly rebalancing exercise last Friday.

The S&P/ASX 200 is Australia’s leading share market index that measures the performance of the top 200 ASX-listed companies by float-adjusted market capitalisation. 

Inclusion into the index is often a high watermark as there are several inclusion criteria a company and its share price must pass in order to qualify.

For instance, a company must be listed on the ASX and must be considered “institutionally investible”, whilst holding a minimum 3-month float adjusted market cap of $120 million.

Not only that, but many large Australian fund managers are limited to investing in ASX 200 companies, to avoid excessive volatility and risk-taking. 

Therefore, any new additions into the index have immediate buying power or selling pressure behind them as said large fund managers have to rebalance their own portfolios in accordance with these regulations.

We see this in action on Monday as order volume on Imugene’s shares was already at 74% of its 4-week average trading volume earlier in the day as prices take a dip.

Imugene share price snapshot

In the past 12 months, the Imugene share price has soared over 294% after rallying an impressive 392% this year to date.

This is well ahead of the benchmark index’s return of around 9% in that time.

The post Inclusion: Why is the Imugene (ASX:IMU) share price falling today? appeared first on The Motley Fool Australia.

More reading

• The Imugene (ASX:IMU) share price has rocketed 80% since August. Here’s why
• Here are the top 10 ASX shares today
• Why Calix, Imugene, Legacy Iron Ore, and Lovisa shares are charging higher
• Imugene (ASX:IMU) share price leaps 9% on Pfizer, Merck deal

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 Rio Tinto Limited (ASX: RIO) share price is down 1.8% at the time of writing as protests grow in Serbia.

According to reporting by various international media, such as The Guardian, thousands of protestors blocked major roads in Serbia with the government seemingly on course to allow Rio Tinto to go ahead with its lithium mine. There were reportedly similar protests last week as well.

Whilst Rio Tinto has been buying land around the western town of Loznica, it has yet to be given the final approval for the mine.

It was reported that protestors say the Serbian government is “setting the stage for illegal land appropriations and ignoring environmental concerns.”

Even Novak Djokovic has had a say on the situation. On Instagram, the tennis player said:

Clean air, water and food are keys to health. Without that, every word about ‘health’ is obsolete.

What’s the miner trying to do in Serbia?

In July 2021, it committed $2.4 billion for the Jadar lithium-borates project in Serbia.

The miner said that it’s one of the world’s largest greenfield lithium projects, though it remains subject to approval, permits and licences.

Rio Tinto says that the project would scale up Rio Tinto’s exposure to battery minerals and “demonstrate the company’s committed to investing capital in a disciplined manner to further strengthen its portfolio for the global energy transition.”

If approved, Jadar will produce battery-grade lithium carbonate. Management said Jadar would position Rio Tinto as the largest source of lithium supply in Europe for at least the following 15 years. Jadar will also produce borates, which is used in solar panels and wind turbines.

In trying to sell the economic benefits of Rio Tinto, the company said that Jadar will be one of the largest industrial investments in Serbia, contributing 1% directly and 4% indirectly to GDP, with many Serbian suppliers involved in the construction of the mine. It will also be a “significant employer”, creating 2,100 jobs during construction and 1,000 mining and processing jobs once in production.

What else could be impacting the Rio Tinto share price?

On Friday, on the London Stock Exchange, there was quite a lot of volatility for the Rio Tinto share price. Depending on the timing of global volatility, the ASX listing can either be ahead or behind the London Stock Exchange’s movement.

Also, last week Evergrande said in an announcement to the Hong Kong Stock Exchange that “there is no guarantee that the Group will have sufficient funds to continue to perform its financial obligations.”

The company has received a demand to “perform its obligations” under a guarantee for the amount of approximately US$260 million.

If Evergrande is unable to meet its guarantee obligations or certain other financial obligations, it “may lead to creditors demanding acceleration of repayment”.

The post Rio Tinto (ASX:RIO) share price sinks amid Serbian protests, Novak Djokovic weighs in appeared first on The Motley Fool Australia.

More reading

• Evergrande admits it may not meet debt repayments
• Top brokers name 3 ASX shares to buy next week
• Analysts say these are the ASX resources shares to buy now for big returns
• Did the Rio Tinto (ASX:RIO) share price start a recovery in November 2021?
• The Fortescue (ASX:FMG) share price hit by broker downgrade

Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has 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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With so many shares to choose from on the ASX, it can be hard to decide which ones to buy. The good news is that brokers across the country are doing a lot of the hard work for you.

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

Appen Ltd (ASX: APX)

According to a note out of Citi, its analysts have retained their buy rating and $17.10 price target on this artificial intelligence data services company’s shares. Citi is sticking with Appen despite news that Amazon has launched a new SageMaker Ground Truth Plus service that uses an expert workforce to deliver high-quality training datasets faster. The broker believes that while competition in the Enterprise space may increase, competition with Appen’s major technology customers shouldn’t be impacted. The Appen share price is trading at $9.21 on Monday afternoon.

Australia and New Zealand Banking GrpLtd (ASX: ANZ)

A note out of Morgans reveals that its analysts have retained their add rating and $31.00 price target on this banking giant’s shares. Morgans remains positive on the banking sector as a whole and believes there is potential for further capital management and generous dividends in the near term. Its analysts also expect rising interest rates to be supportive of earnings growth in the coming years. The ANZ share price is fetching $26.87 today.

ResMed Inc. (ASX: RMD)

Analysts at Macquarie have upgraded this medical device company’s shares to an outperform rating with a $39.00 price target. While Macquarie acknowledges that supply chain issues are putting pressure on near term device supply, its analysts remain positive. This is due to an expected increase in industry volume growth from 2023 and market share gains for ResMed. Macquarie believes this will support revenue and earnings growth ahead of current analyst consensus estimates. The ResMed share price is trading at $36.29 on Monday.

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

More reading

• Why ANZ Bank (ASX:ANZ) is losing market share to other big ASX banks
• 2 healthcare ASX shares that Morgans loves right now
• What’s Appening? The Appen (ASX:APX) share price has tumbled 20% in 2 weeks
• Here are the 3 top-performing ASX 200 banks of November
• 2 ASX shares with strong long term growth potential

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Appen Ltd. The Motley Fool Australia owns shares of and has recommended Appen Ltd. The Motley Fool Australia has recommended ResMed 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 Bank of Queensland Limited (ASX: BOQ) share price is continuing its poor form from last month. This is despite the company keeping a relatively low profile on the news front in recent times.

The regional bank’s shares dropped 12.49% in November. So far today Bank of Queensland shares are down 0.13% to $7.62.

In comparison, the S&P/ASX 200 Index (ASX: XJO) also ended November in the red, shedding 1.56% over the same timeframe. The benchmark index is hovering 0.4% lower to 7,212.5 points.

Let’s take a look at what might have weighed on Bank of Queensland shares lately.

What happened to Bank of Queensland shares in November?

The Bank of Queensland share price finished lower than it started last month, dragged down by negative investor sentiment.

The company did not release any price-sensitive market announcements to the ASX throughout November. However, broader market weakness coupled with the new Omicron COVID-19 variant put pressure on investor confidence.

This led Bank of Queensland shares to fall across the month. In particular, losses extended to 8 consecutive business days from 11 November to 22 November.

Furthermore, after the World Health Organisation reported the Omicron variant on 24 November, the company’s shares tumbled. In just 3 trading days, Bank of Queensland shares dropped 4% to a low not seen since January 2021.

Notably, senior executive and chair Patrick Allaway appeared to think that the company’s share price was trading at a bargain. Mr Allaway conducted an on-market trade, buying 10,000 Bank of Queensland shares at a price of $8.55 each in early November.

Non-executive director Mickie Rosen followed suit, also picking up 10,000 shares during the middle of the month at $8.50 apiece.

This could be considered an absolute steal given that a broker weighed in on the company’s shares on 2 December.

Although New Zealand’s Jarden reduced its outlook on Bank of Queensland shares by 5%, its price target stood at $9.60. Based on the current share price, this implies an upside of around 26%.

Bank of Queensland share price summary

The last 12 months have seen Bank of Queensland shares continue to move in circles, recording nil gains for the period. Year-to-date growth has also failed to take off, registering just 2% higher in 2021.

Bank of Queensland commands a market capitalisation of roughly $4.9 billion, with approximately 642.63 million shares outstanding.

The post Why the Bank of Queensland (ASX:BOQ) share price hit reverse in November? appeared first on The Motley Fool Australia.

More reading

• Should Bank of Queensland (ASX:BOQ) shares be on your Christmas list? Here’s what top brokers think
• What’s JP Morgan saying about ASX 200 bank shares?
• Are Bank of Queensland (ASX:BOQ) shares really going to pay a 10% dividend yield?
• Here’s why Morgans tips 30% upside for the Bank of Queensland (ASX:BOQ) share price
• What is Bank of Queensland (ASX:BOQ) doing to compete with BNPL rivals?

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 Australian Strategic Materials Ltd (ASX: ASM) share price is still in the freezer as the company prepares to announce potentially exciting study results.  

The company froze the trading of its shares before the market opened on Friday. Since then, the Australian Strategic Materials share price has been sitting at $11.40.

Let’s investigate what the market might hear from the speciality metals and oxide producer when it exits the trading halt.

What’s going on?

Plenty of eyes are on Australian Strategic Materials share price today after the company flagged it would either release highly anticipated news or restart trading on Tuesday morning. Unless, of course, it extends its trading halt.

The anticipated news regards an optimisation study at the company’s wholly-owned Dubbo Project – a critical pillar of its business.

In October, the company said the study’s results would be released before the end of November. However, no news has been heard of it yet.

The study is aiming to update previous findings at the project with current pricing and design improvements.

Following its completion, Australian Strategic Materials hopes to start moving towards the next phase of the project’s development.

The Dubbo Project’s said to be a globally significant resource of rare earths, zirconium, niobium, hafnium, tantalum, and yttrium.

According to the company, the metals play an important role in future technologies, particularly in the clean energy and transportation sectors.

The company expects the project will see it becoming one of few critical metal oxide supply options outside of China.

It plans to process the project’s productions at its critical metals plants, located in key technology markets. The first plant will be in South Korea.

Australian Strategic Materials share price summary

Right now, the Australian Strategic Materials share price is trading 73% higher than it was at the start of 2021. However, it has fallen 6.4% since this time last month.

At its current share price, the company has a market capitalisation of $1.59 billion.

The post Why is the Australian Strategic Materials (ASX:ASM) share price halted? appeared first on The Motley Fool Australia.

More reading

• Why the Bank of Queensland (ASX:BOQ) share price hit reverse in November?
• Crypto market crash: The latest on Solana, Cardano, Ripple, and Terra
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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.

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