Tag: Motley Fool

With so many shares to choose from on the Australian share market, it can be hard to decide which ones to buy over others.

To narrow things down, I have picked out three options that are highly rated to consider:

Pushpay Holdings Group Ltd (ASX: PPH)

The first ASX share to look at is Pushpay. It is a leading donor management and community engagement platform provider for the faith sector. Pushpay has also boosted its offering with acquisitions. The most recent being the US$150 million acquisition of Resi Media. It is a US-based market-leading streaming solutions provider, servicing more than 70% of the Outreach 100 largest churches in the US. Management notes that it broadens Pushpay’s core product offering and enhances its value proposition to customers, strengthening its digital technology strategy and maintaining its position at the forefront of innovation in the faith sector.

Jarden currently has a buy rating and NZ$2.24 (A$2.15) price target on its shares.

ResMed Inc. (ASX: RMD)

Another ASX share to look at is ResMed. It is a medical device company with a focus on the sleep treatment market. Thanks to its industry-leading products, wide distribution network, and successful acquisitions, ResMed has been growing at a very strong rate over the last few years. The good news is that thanks to its significant market opportunity and the growing prevalence of sleep disorders, it has been tipped to continue doing so for the foreseeable future. Its near term performance is also being boosted by a major product recall from a competitor.

Morgan Stanley is positive on the company and has an overweight rating and $40.20 price target on ResMed’s shares.

Zip Co Ltd (ASX: Z1P)

A final ASX share to look at is Zip. This buy now pay later (BNPL) provider has been growing at a strong rate over the last few years thanks to the increasing popularity of the payment method and its international expansion. This has continued in FY 2022, with Zip recently revealing record quarterly revenue of $136.8 million during the first quarter. This was up 89% year on year and 8% quarter on quarter. The good news is the company still has a very long runway for growth over the next decade thanks to its massive global market opportunity.

Analysts at Morgans are positive on Zip. They currently have an add rating and $8.56 price target on its shares.

The post 3 buy-rated ASX shares appeared first on The Motley Fool Australia.

More reading

• Why Core Lithium, Firefinch, Smartgroup, and Zip shares are falling
• What do analysts think of the Zip (ASX:Z1P) share price following the rebrand?
• Afterpay (ASX:APT) and other BNPL shares in focus as RBA looks to rein in regulation
• Up 11% in a month: Can the Zip (ASX:Z1P) share price keep rising?
• Zip (ASX:Z1P) share price rallies 5% on Tuesday

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 PUSHPAY FPO NZX and ZIPCOLTD FPO. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended ResMed. The Motley Fool Australia owns shares of and has recommended PUSHPAY FPO NZX. 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.

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

The Ansell Limited (ASX: ANN) share price has slipped to a new 52-week low today. Unfortunately for shareholders, this deepens Ansell’s fall from grace. It was only four months ago when the health and safety protection solutions company hit a 52-week high of $44.07.

At the end of Monday’s session, shares in the company finished at $31.30, down 1.07% from their previous close. This means the Ansell share price is now down approximately 29% from its 52-week high milestone.

Let’s have a closer look at what has been happening at the $4.1 billion company.

Going out of fashion

It is perplexing to think a company that delivered strong revenue and earnings growth in its FY21 full-year results is suffering a share price decline. However, that is exactly the case for personal protection equipment (PPE) manufacturer, Ansell.

In August, the company posted a 25.6% increase in sales to US$2 billion. Meanwhile, net profit after tax (NPAT) jumped a staggering 57% year-over-year to US$338 million. Certainly not bad growth for a healthcare company that is 92 years old.

However, the growth story was largely a beneficiary of the COVID-19 pandemic, which created a surge in demand for PPE across the globe. Now, as vaccination rates reach re-opening levels, investors are worried the tailwind might be reversing. Hence, the market is applying downwards pressure to the Ansell share price.

This daily infographic provides the total number of vaccine doses administered in Australia as of 24 October 2021

Stay up to date with COVID-19 vaccine information here: https://t.co/lsM33j9wMW pic.twitter.com/7qcW7ymFgK

— Australian Government Department of Health (@healthgovau) October 25, 2021

https://platform.twitter.com/widgets.js

As we recently covered, analysts from Macquarie have shared this perspective in its latest broker note. Essentially, the broker foresees a softening in demand for PPE. Consequently, Ansell is predicted to have difficulty raising prices to offset increasing costs being observed with inflation.

As a result, Macquarie suspects the company might fall short of earnings estimates for FY2022. In response, the broker has applied an underperform rating on the company with a $32 share price target for Ansell.

Ansell share price recap

Although Australia is only now beginning to emerge from its broad lockdowns and restrictions, the Ansell share price has been falling since June. Meanwhile, over the past 12 months, the company’s shares have sunk 23% in value. In contrast, the S&P/ASX 200 Index (ASX: XJO) has gained 20.9% during that time.

Having said all that, it is worth mentioning that Ansell is currently trading on a trailing 12-month price-to-earnings (P/E) ratio of 12.6 times. Likewise, the company is boasting a 3.2% dividend yield.

The post Ansell (ASX:ANN) share price hits a new 52-week low today appeared first on The Motley Fool Australia.

More reading

• Leading brokers name 3 ASX shares to sell today
• Why Ansell, Predictive Discovery, Strike Energy, & Zip shares are sinking
• Why the Ansell (ASX: ANN) share price is crashing today
• ASX 200 (ASX:XJO) midday update: Westpac’s $1.3bn earnings hit, Ansell sinks

Motley Fool contributor Mitchell Lawler has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Ansell Ltd. 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/3mbh0EJ

The Alumina Limited (ASX: AWC) share price has plummeted over the last week despite no news having been released by the company.

Interestingly, the company had a good day on the ASX today. That’s despite the Australian Government pledging to reach net-zero emissions by 2050 ahead of next week’s COP26 climate summit in Glasgow.

As The Motley Fool Australia has previously reported, Alumina is one of the S&P/ASX 300 Index‘s (ASX: XKO) biggest carbon polluters. It also doesn’t have a plan to reach net-zero carbon emissions.

As of Monday’s close, the Alumina share price is $2.11, 1.44% higher than it was at the end of Friday’s session. However, it’s still 8.2% lower than it was this time last week.

For context, the S&P/ASX 200 Index (ASX: XJO) has gained 0.81% in that time. The All Ordinaries Index (ASX: XAO) has also gained 0.84% over the week just been.

Let’s take a look at what might have weighed on the aluminium producer’s share price over the past week.

What’s driving the Alumina share price down?

The Alumina share price’s struggles on the ASX came amid the company’s stock being downgraded by a major broker.

As The Motley Fool Australia reported on Saturday, analysts at Credit Suisse downgraded the company’s stock to a neutral rating and slapped its shares with a price target of $1.90.

The reason behind the broker’s downgrade was its belief that aluminium prices are unsustainable and Alumina’s shares too expensive.

The price of aluminium has slipped since last week. It’s been trending downwards since Wednesday after spending most of October surging higher.

According to data from Business Insider, 1 tonne of aluminium is currently US$2,868.15. That represents a fall of 1.46% over the course of today.  

Additionally, Alumina seems to have suffered through a sell-off last week.

Over the last 4 weeks, an average day has seen around 12.2 million Alumina shares swapping hands.

However, Thursday saw a whopping 41.7 million Alumina shares traded. Wednesday and Friday also saw above-average numbers passed from seller to buyer.

The post Why has the Alumina (ASX:AWC) share price fallen 8% over the last week? appeared first on The Motley Fool Australia.

More reading

• These were the worst performing ASX 200 shares last week
• Which ASX 200 dividend shares have investors been heavily trading this week?
• HESTA boss calls out ASX 300 companies without net-zero targets
• These 3 ASX 200 shares are topping the volume charts on Thursday
• Alumina (ASX:AWC) share price edges lower on quarterly update

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/3ntOVIt

There are a lot of growth shares for investors to choose from on the Australian share market.

To narrow things down, I have picked out three ASX growth shares that are highly rated. Here’s what you need to know about them:

ELMO Software Ltd (ASX: ELO)

The first ASX growth share to look at is ELMO. It is a HR and payroll platform provider that has been growing at a rapid rate over the last few years and even during the pandemic. Its popular software platform allows businesses to simplify and streamline a wide range of tasks. Demand has been strong, leading to stellar recurring revenue growth over the last few years. For example, last week ELMO released its first quarter update and revealed Annualised Recurring Revenue (ARR) of $88.5 million, which was up 61% over the prior corresponding period. This was driven by the benefits of acquisitions and a 35% increase in organic revenue.

In response to its update, Morgan Stanley retained its overweight rating and $7.80 price target on ELMO’s shares.

IDP Education Ltd (ASX: IEL)

Another ASX growth share to look at is IDP Education. It is a provider of international student placement services and English language testing services. It was unsurprisingly hit hard by the pandemic. However, the company has been tipped to win market share and resume its rapid growth once the crisis passes and trading conditions recover. In fact, this is already happening. Last week the company revealed that during the first quarter of FY 2022, IELTS volumes were up 84% on the same period last year.

This led to Morgan Stanley retaining its overweight rating and $40.20 price target on the company’s shares.

Temple & Webster Group Ltd (ASX: TPW)

Another growth share to consider is Temple & Webster. It is Australia’s leading online furniture and homewares retailer. It has been growing at a strong rate over the last few years. This has been driven by the shift to online shopping. Pleasingly, this strong growth has continued despite COVID tailwinds easing. Last week the company revealed that its revenue for the period July 1 to 15 October increased 56% over the prior corresponding period.

In response, Credit Suisse retained its outperform rating and lifted its price target on the company’s shares to $15.89.

The post 3 exciting ASX growth shares analysts love appeared first on The Motley Fool Australia.

More reading

• 3 excellent ASX growth shares to buy
• The ASX share showing explosive post-COVID growth
• ELMO (ASX:ELO) share price surges 8% on first-quarter update
• 5 things to watch on the ASX 200 on Tuesday
• Why Audinate, Home Co Daily Needs, Infomedia, and Temple & Webster are falling

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 Elmo Software, Idp Education Pty Ltd, and Temple & Webster Group Ltd. The Motley Fool Australia owns shares of and has recommended Elmo Software. The Motley Fool Australia has recommended 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.

from The Motley Fool Australia https://ift.tt/3maSvI0

Back in July, we looked at one fund manager’s bold prediction that the S&P/ASX 200 Index (ASX: XJO) will hit 8,000 points by the end of the 2021 calendar year, with the All Ordinaries Index (ASX: XAO) presumably well above that level.

Seeing as it’s towards the back end of October now, and the ASX 200 is presently at 7,441 points at the time of writing, the window for this prediction to come true is narrowing. Especially if you consider that global investment manager Research Affiliates was basing this prediction on rising commodity prices at the time. I’m sure the good investors over at Research Affiliates weren’t to know that the iron ore price was about to have the floor pulled out from under it.

But what of the All Ords? Sure, it may not be as followed as its younger sibling the ASX 200, these days. But it’s sure sitting a lot closer to 8,000 points than the ASX 200 is right now at the present 7,754 points.

Can the All Ords hit 8,000 points by the end of the year?

So what would it take for the All Ords to hit 8,000? Well, it already got mighty close. Back in mid-August, the All Ords hit what is now its all-time high of 7,902.2 points. On that day, the ASX 200 also hit its current high watermark of 7,632.8 points.

We would only need the All Ords to put on around 1.8% from today’s levels to hit that number, and another 1.25% roughly to hit 8,000 points.

All we would really need is the big four banks, or perhaps BHP Group Ltd (ASX: BHP) or CSL Limited (ASX: CSL), to have another terrific month, and we’d probably be there. That’s because, just like the ASX 200, the All Ords’ share weightings are dominated by these companies, the largest by market capitalisation on the ASX boards.

So how likely is this scenario? Well, no one seems to be too keen to make the call, at least recently. A few months ago, a survey conducted by the Australian Financial Review (AFR) found that “the majority of equity strategists surveyed… forecast the benchmark [ASX 200] will only add a little more than 2 per cent by Christmas”. That’s going from the 7,300 point mark at the time, implying an ASX 200 at 7,500 points at the end of the year.

We can extend this prediction to a rough level of 7,800 points for the All Ords. Those providing this prediction include brokers JPMorgan, Credit Suisse and UBS.

But that was then, and commentators have been comparatively silent in the months since. As per usual, we will probably have to wait until 31 December to actually have any idea of where the All Ords will end up at the end of 2021. As they say, the waiting is the hardest part!

The post Can the All Ords hit 8,000 points by the end of the year? appeared first on The Motley Fool Australia.

More reading

• Sydney Airport (ASX: SYD) share price slips amid ACCC’s latest findings

JPMorgan Chase is an advertising partner of The Ascent, a Motley Fool company. Motley Fool contributor Sebastian Bowen owns shares of JPMorgan Chase. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended CSL Ltd. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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

Is it possible that the Lynas Rare Earths Ltd (ASX: LYC) share price could drop to just $4 by the end of the 2021 calendar year?

One broker thinks that Lynas shares are headed lower from where they are today.

But time will tell how if, and how much, it falls.

A price target is where a broker feels a share price will be in 12 months from now, not necessarily at the end of the 2021 calendar year.

Brokers regularly update their thoughts about a business. Some businesses are more commonly covered than others.

One of the brokers that covers Lynas is Ord Minnett.

Price target for the Lynas share price

Ord Minnett has a price target on Lynas of $4.30. That suggests that the broker believes that Lynas shares could fall by around 40% over the next 12 months.

The broker noted the high levels of cash that the business has achieved and its good production.

Strong commodity prices are helping Lynas’ profit and cashflow.

Whilst the business has done well with its operations, the broker is cautious after the strong run of the Lynas share price.

Over the last six months, the Lynas share price has risen by 29% and in the last year has gone up by 141%.

FY22 first quarter update

The resource business recently released its update for the first quarter of FY22.

Lynas said the global COVID-19 pandemic continues to present challenges and opportunities for the Lynas business in the quarter ending 30 September 2021.

Strong demand from the magnet market and increased market price for neodymium and praseodymium (NdPr) continued as economies recovered from the pandemic.

In terms of the numbers, invoiced revenue for the quarter was $121.6 million, the second highest quarterly result recorded for Lynas. The fourth quarter of FY21 showed $185.9 million of sales revenue.

Sales receipts for the FY22 first quarter amounted $92 million, compared to $192 million in the prior quarter.

Lynas ended with a closing cash balance of A$667.3 million, compared to $680.8 million at the end of FY21.

In terms of production, the company said that total rare earth oxide (REO) production was 3,166 tonnes, down from 3,778 tonnes in the last quarter of FY21. NdPr production was 1,255 tonnes, down from 1,393 tonnes in the prior quarter.

The Lynas share price has fallen 4.5% since the market learned of this update.

Lynas 2025 project

The company also gave a number of updates about its Lynas 2025 project.

Kiln components are en route to Australia, with 70% of procurement now complete. It also said that 70% of the procurement is now complete.

A process water agreement has been signed with the City of Kalgoorlie-Boulder.

On 20 October e2021, the WA EPA recommended the Kalgoorlie rare earth processing facility for environmental approval.

Lynas share price valuation

Based on the Ord Minnett projection, Lynas shares are valued at 17x FY23’s estimated earnings.

The post Can the Lynas (ASX:LYC) share price fall to $4 by the end of 2021? appeared first on The Motley Fool Australia.

More reading

• Why Aurizon, De Grey Mining, Lynas, and Yancoal shares are falling
• ASX 200 (ASX:XJO) midday update: BHP and Rio Tinto fall, Qantas higher
• Lynas (ASX:LYC) share price falls 7% on news of COVID-induced shutdown
• The Lynas (ASX:LYC) share price has leapt 15% in 2 weeks. Here’s why
• The Lynas (ASX:LYC) share price is down 10% in a month. Here’s why

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.

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

The Huon Aquaculture Group Ltd (ASX: HUO) share price regained momentum on Monday afternoon. Shares in the Aussie salmon farmer finished the day at $3.83, up 6.7%.

Investors are making a grab for Huon shares after the company released an update this afternoon. The contents of the release relate to the approvals needed for the proposed buyout by Brazil-based meat processor, JBS SA.

Here’s what we know following the update.

Another hurdle cleared

While the takeover of Huon by JBS is not new, the details of its progression are. According to the release, JBS’ takeover offer of $3.85 cash per Huon share has received approval from the Foreign Investment Review Board (FIRB).

This means the Commonwealth has made no objections to the Australian company being bought out by the foreign company, JBS. Shareholders are clearly excited, reflected in the higher Huon share price today.

The Huon board is now left to deliberate whether it will pay a special dividend worth 12.5 cents per share. This would allow shareholders to enjoy a further 5 cents per share in franking credits.

Additionally, the company disclosed that no further bids were received after the JBS schemes were announced on 6 August 2021.

Management commentary

Commenting on the FIRB approval, Huon chair Neil Kearney said:

The FIRB decision is another important step in securing the future of Huon, our 800-plus employees and the hundreds of Tasmanian businesses that work with our company. In addition to its commitment to invest in the business and our people, JBS has committed to maintaining our world-leading farming practices to support long-term sustainable growth.

Huon has established the highest standards of animal husbandry, biosecurity, environmental management, and sustainable farming practices and JBS will continue this uncompromising approach. Importantly, JBS also has the proven skills and expertise to access new international markets for Huon’s premium products.

What’s next for the Huon share price?

The Huon annual general meeting (AGM) and scheme meetings will be held on 29 October. If shareholders approve the scheme, the company expects Huon shares will be suspended from trading at market close on 3 November.

The Huon share price has returned 38.9% to its shareholders over the past year. At its current share price, Huon trades on a price-to-earnings (P/E) ratio of 43.9 times.

The post Huon (ASX:HUO) share price leaps 6% on takeover update appeared first on The Motley Fool Australia.

More reading

• Can the Lynas (ASX:LYC) share price fall to $4 by the end of 2021?
• Strike Energy (ASX:STX) share price tumbles 3%, hits new 52-week low
• Why did the Rio Tinto (ASX:RIO) share price climb today?
• Here are the top 10 ASX shares today
• Buxton Resources (ASX:BUX) share price explodes 52% on copper update

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

from The Motley Fool Australia https://ift.tt/3GkEMq4

The Strike Energy Ltd (ASX: STX) share price plummeted today, hitting a new 52-week low in intraday trade.

Interestingly, the dip comes despite no price sensitive news being released by the company. However, it did inform the market its deputy chair will face court in Western Australia over an alleged quarantine breach.

As of Monday’s close, the Strike share price is 17 cents, 2.86% lower than its previous close.

Earlier today, the company’s stock plunged to a new 12-month low of 16.5 cents, representing a single-day drop of 5.7%.

Making the dip even more noteworthy is the fact many of the company’s peers surged higher. While Strike isn’t on the S&P/ASX 200 Energy Index (ASX: ZEJ), it’s worth noting the index gained 2.7% on Monday.

Let’s take a closer look at the non-price sensitive news released by the oil and gas explorer today.  

Strike Energy share price slides amid border drama

The Strike Energy share price fell today after the company’s deputy chair, Neville Power, was summoned to appear in court.

The company stated Power will face court for a matter relating to Western Australia’s quarantine laws.

According to ABC News, Power and another man failed to complete a G2G Pass before travelling into Western Australia. A G2G Pass is is a measurement to help the Western Australia Police Force manage COVID-19 travel directions.

The two men allegedly helicoptered to Exmouth from Queensland. They then reportedly continued to Perth’s Jandakot Airport, stopping at Carnarvon and Geraldton for fuel.

In addition to his role as deputy chair of Strike Energy, Power is chair of Perth Airport and the Royal Flying Doctor Service.

Power also chaired the National COVID-19 Coordination Commission, a body designed to minimise the impact of COVID-19 on jobs and business and ready the country for a speedy recovery.

Strike Energy stated Power will continue his duties as a director of the company.

The post Strike Energy (ASX:STX) share price tumbles 3%, hits new 52-week low appeared first on The Motley Fool Australia.

More reading

• Why Ansell, Predictive Discovery, Strike Energy, & Zip shares are sinking
• Why Afterpay, Platinum, Star, & Strike Energy shares are sinking
• Why the Strike Energy (ASX:STX) share price is down 10% this morning

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/3ntuJ9x

The Rio Tinto Ltd (ASX: RIO) share price closed higher on Monday, finishing the day up 1.48% to $96.44.

It’s a small but welcome spike for the mining giant which has been swimming in a sea of red over the last three months.

Let’s take a closer look at what happened with Rio’s shares today.

What’s up with the Rio Tinto share price?

Rio shares edged higher despite there being no market-sensitive information for the company today.

In its absence, we have to look to the underlying commodity markets to decipher what forces may be at play.

According to its financial statements, Rio derived over 62% of its revenue in 1H 2021 from iron ore with aluminium sales coming in a distant second at 17%. It also derived 75% of its 1H earnings before interest, tax, depreciation and amortisation (EBITDA) from iron ore.

The price of iron ore fell off the cliff in August amid efforts in China to curb steel production and control carbon emissions.

More than 80% of China’s steel mills suspended production in September for maintenance work. That, coupled with the debt crisis facing Chinese property firms, saw iron ore prices tumble more than 54%, or US$119.5/tonne, from July to the end of September.

However, it has since made a slight recovery, bouncing off its lows of US$103/tonne on 22 September to now trade around 9% higher at US$112/tonne.

Rio is considered a price taker on iron ore, given it is an ASX resource share that produces the commodity. It has no real pricing power in the iron ore markets.

As such, its share price can and does fluctuate with volatility in broader commodity markets and with iron ore in particular.

It’s also worth noting that today’s gains appeared to carry across the wider ASX iron ore and metals’ basket as well.

For instance, the S&P/ASX 300 Metals & Mining Index (XMM) closed 1.34% higher while fellow iron ore heavyweights Fortescue Metals Group Ltd (ASX: FMG) and BHP Group Ltd (ASX: BHP) each ticked into the green today.

Rio Tinto share price snapshot

The Rio Tinto share price has struggled this year to date, having posted a loss of 15% since January 1. This appears to be driven by the decrease in iron ore prices.

As such, it has only climbed 1.09% into the green over the past 12 months.

Each of these results are well behind the S&P/ASX 200 Index (ASX: XJO)’s return of around 21% in that time.

The post Why did the Rio Tinto (ASX:RIO) share price climb today? appeared first on The Motley Fool Australia.

More reading

• Rio Tinto (ASX:RIO) share price threatens fresh year-to-date low
• ASX 200 (ASX:XJO) midday update: BHP and Rio Tinto fall, Qantas higher
• 5 things to watch on the ASX 200 on Friday
• Rio Tinto (ASX:RIO) share price dips amid pledge to halve direct emissions by 2030
• These are the 5 highest yielding dividend stocks in the ASX 200

The author Zach Bristow 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/3B9zV7m

Today, the S&P/ASX 200 Index (ASX: XJO) started the week off with a positive move. The benchmark index moved 0.34% higher to 7,441 points.

Despite a lagging tech sector, the Aussie benchmark recorded another green day for the year. Pulling the market ahead were shares in the energy, utilities, and materials sectors.

However, the question is: which shares delivered the biggest returns to investors on the ASX today? Here are the ten stocks that rose to the occasion:

Top 10 ASX shares countdown today

Looking at the top 200 listed companies, Mineral Resources Ltd (ASX: MIN) was the biggest gainer today. Shares in the mining and mining services company jumped 8.96% higher. This move came amid the company announcing the restart of operations at its Wodgina Lithium Mine. Find out more about Mineral Resources here.

The next biggest gaining ASX share today was Imugene Ltd (ASX: IMU). The clinical-stage drug developer’s shares rallied 6.74%. Despite the large gain, there were no announcements released by the company today. Uncover the latest Imugene details here.

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

ASX-listed company	Share price	Price change
Mineral Resources Ltd (ASX: MIN)	$42.91	8.96%
Imugene Ltd (ASX: IMU)	$0.475	6.74%
Beach Energy Ltd (ASX: BPT)	$1.45	5.07%
Novonix Ltd (ASX: NVX)	$6.43	4.72%
Origin Energy Ltd (ASX: ORG)	$5.38	3.86%
Woodside Petroleum Ltd (ASX: WPL)	$24.13	3.70%
Santos Ltd (ASX: STO)	$7.29	3.55%
Oil Search Ltd (ASX: OSH)	$4.48	3.46%
Home Consortium (ASX: HMC)	$8.17	3.42%
Champion Iron Ltd (ASX: CIA)	$4.77	3.25%

Our top 10 ASX shares today countdown is a recurring end-of-day summary to ensure you know which companies were making big moves on the day. Check-in at Fool.com.au after the market has closed during weekdays to see which stocks make the countdown.

The post Here are the top 10 ASX shares today appeared first on The Motley Fool Australia.

More reading

• How do ASX share prices typically perform in November?
• These 3 ASX 200 shares are topping the volume charts this Monday
• The Xero (ASX:XRO) share price is holding up ASX tech shares today
• Why Beach, Mineral Resources, Origin, and Telstra are storming higher
• ASX 200 (ASX:XJO) midday update: Telstra’s acquisition, Mineral Resources jumps

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

from The Motley Fool Australia https://ift.tt/2ZsLl9p