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There seems to be no shortage of bullish news for ASX lithium shares with spot prices continuing to mark fresh all-time highs.

Battery-grade lithium carbonate prices hit 190,000 yuan/metric tonne (mt) on 15 October. This surpasses the previous high of around 160,000 yuan/mt just two weeks ago.

What’s driving lithium prices?

S&P Global Platts reported that market sources attributed the sustained price increase to “tight supplies exacerbated by the ongoing power restrictions in China, as well as bullish downstream demand from the new electric vehicle sector”.

One of China’s largest lithium producers, Ganfeng Lithium, is passing on the rising costs of production to customers. It has announced a 10% increase in lithium prices or 10,000 yuan/mt from 10 October to 9 November.

A China-based battery maker said, “although a very small number of our productions are completely shut down, a part of our battery orders will be postponed to Q1 next year.”

How are ASX lithium shares performing on Tuesday?

Emerging producers and explorers are running well ahead of large-cap players.

The Pilbara Minerals Ltd (ASX: PLS) share price is currently up 0.47% to $2.13, while Orocobre Limited (ASX: ORE) is down 0.11% to $9.07.

Despite a relatively flat performance on Tuesday, Pilbara Minerals and Orocobre have both bounced 10-15% in the last two weeks.

The speculative end of town is rife with winners.

Coined “Australia’s next lithium producer”, the Core Lithium Ltd (ASX: CXO) share price is surging. It’s up 10% to 60.5 cents and around 47% in the last month.

Emerging lithium producer Ioneer Ltd (ASX: INR) is rallying 7.36% to 69.25 cents.

Small-cap lithium technologies company Lithium Australia NL (ASX: LIT) is up 8.7% to 12.5 cents. This comes after it announced today one of its subsidiaries is expanding its battery manufacturing capabilities.

Other explorers making headway on Tuesday include Piedmont Lithium Inc (ASX: PLL), Lake Resources NL (ASX: LKE) and Firefinch Ltd (ASX: FFX). They are up 1.8%, 2.4% and 2.3% respectively.

The post ASX lithium shares mixed on Tuesday as prices surge to all-time highs appeared first on The Motley Fool Australia.

More reading

• Which ASX 300 shares are the biggest winners and losers on Tuesday?
• Why the Lithium Australia (ASX:LIT) share price is rocketing 9%
• These 3 ASX 200 shares are topping the volume charts this Monday
• Leading brokers name 3 ASX shares to buy today
• These 3 ASX 200 shares are topping the volume charts this Friday

Motley Fool contributor Kerry Sun owns shares of Ioneer Limited. 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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Over the past month, the S&P/ASX 200 Index (ASX: XJO) has managed a decent performance. Since Monday 20 September, the ASX 200 has eked out a gain of 2%, rising from 7,248 points to the 7,393 points it’s currently sitting on at the time of writing today. But let’s have a look at the Australian Foundation Investment Co. Ltd (ASX: AFI) share price, and see how it stacks up.

The Australian Foundation Investment Company, or AFIC as it’s more easily known, is a Listed Investment Company (LIC), and one of the oldest of its kind on the ASX. It first opened its doors way back in 1928. Since then, it has made a name for itself as a slow-but-steady kind of investment that you can comfortably leave in the bottom drawer. That’s because it focuses on maintaining a broad, diversified portfolio of blue chip ASX shares, as well as some more recently acquired international exposure.

Its top holdings typically don’t differ too much from the ASX 200 itself. To illustrate, it’s current top 5 holdings are Commonwealth Bank of Australia (ASX: CBA), CSL Limited (ASX: CSL), BHP Group Ltd (ASX: BHP), Wesfarmers Ltd (ASX: WES) and Westpac Banking Corp (ASX: WBC). That’s almost the same as the current ASX 200 lineup.

So how has the AFIC share price stacked up over the past month?

AFIC vs. ASX 200: Who wins?

Well, it’s quite a contrast. Since 20 September, AFI shares have gone backwards from $8.39 to the present (at the time of writing) price of $8.13. That’s a decline of 3.34%. It also represents a gap of more than 5% between the ASX 200’s and AFIC’s respective performances.

So what’s going on here?

Well, the answer might be deceptively simple. At the end of August, AFIC reported that its net tangible assets per share (which equates to the value of its investment portfolio) was $7.71.

Fast forward a month, and AFIC has told us that its September NTA figure came in at $7.54. That’s a drop of roughly 2.2%. So the actual value of AFIC’s share portfolio fell by 2.2% over the month of September, perhaps reflecting the differences between the ASX 200 and said portfolio. That probably goes a long way in explaining AFIC’s share price drop over the past month.

With today’s share price, we also see that AFIC shares still trade at a premium of around 7.8% to their underlying NTA backing. At the current AFIC share price, this LIC has a market capitalisation of $9.94 billion and a dividend yield of 2.96%.

The post Why is the AFIC (ASX:AFI) share price underperforming the ASX 200 over the past month? appeared first on The Motley Fool Australia.

More reading

• Why is the VAS (ASX:VAS) share price underperforming the ASX 200 over the past month?
• ASX 200 (ASX:XJO) midday update: BHP’s Q1 update, CSL’S R&D update
• 2 interest rate hikes by the end of 2022? Seriously?
• What is the outlook for the NAB (ASX:NAB) share price?
• 5 things to watch on the ASX 200 on Tuesday

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. owns shares of and has recommended CSL Ltd. The Motley Fool Australia owns shares of and has recommended Wesfarmers 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 Home Consortium Ltd (ASX: HMC) share price is edging higher today, currently changing hands at $8.11.

That earmarks an 8.1% gain for the property giant so far for this week, after climbing 2.2% in the past month.

Why is the Home Consortium share price charging 8% higher this week?

Home Consortium shares jumped from the start of trade this week after the company announced fellow retail centre owner Aventus Group (ASX: AVN) advised of its plans to merge with the company and HomeCo Daily Needs REIT (ASX: HDN).

Under the proposal, Aventus shareholders would receive an implied value of $3.82 made up of 2.2 HomeCo Daily Needs shares and an option of either 0.038 Home Consortium shares or $0.285 in cash for each Aventus share owned.

A forging of giants of this magnitude will lead to a combined portfolio size of more than $4 billion and a market capitalisation of more than $3 billion.

For Home Consortium, the juice is even more worth the squeeze as the deal “significantly accelerates [the company’s] growth and scale” with its external assets under management (AUM) increasing to approximately $5 billion.

That’s a 127% up-step from FY21 and 12 months ahead of the company’s previously outlined $5 billion 2022 target.

As a result of the intentions, Home Consortium updated its FY22 guidance for funds from operations (FFO) per security by 41% to 26 cents – an almost 90% growth schedule from FY21.

If successfully executed, Home Consortium will have a 13.5% interest in the merged group, however, will externally manage the new entity nonetheless.

The merger is conditional on a series of key milestones being met. At this stage, the implementation date is pencilled in for February 2022.

The Home Consortium share price is edging 5.6% higher in afternoon trade today in what appears to be a response to yesterday’s announcement.

Home Consortium share price snapshot

The Home Consortium share price has soared 99% this year to date, extending its gain in the past 12 months to more than 145%.

This is well ahead of the S&P/ASX 200 Index (ASX: XJO)’s gain of around 19% over the same time.

The post Here’s why the Home Consortium (ASX:HMC) share price is up 8% so far this week appeared first on The Motley Fool Australia.

More reading

• Aventus (ASX:AVN) share price shoots 9% higher on HomeCo merger plans

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.

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The Boral Limited (ASX: BLD) share price is having a good run in October, potentially spurred on by the company’s continued divestment strategy.

Since its first close of this month, Boral’s stock has gained 5.5%. At the time of writing, the Boral share price is $6.31, 0.64% higher than its previous closing price.

Let’s take a look at the news that might have helped to boost the construction supply company’s shares lately.

The month so far for Boral

The first news from Boral this month hit the ASX on 4 October.

Then, Boral announced it had completed the divestment of its North American building products business and its Australian timber business. The sales saw the company’s bank balance bolstered by US$2.15 billion and $64.5 million respectively.

Boral plans to use the funds to pay back some of its loans and help it return up to $3 billion to shareholders.

Despite the release being marked as non-price sensitive, the Boral share price finished the day 4.1% higher than it had the last.

The next time the market heard from Boral was on 7 October when it announced it had sold its half of the North American Meridian Brick business. This time, Boral’s wallet was weighed down by an extra US$125 million.

The announcement of the sale was once again marked non-price sensitive. However, this time, the Boral share price didn’t move far.

It gained 0.5% over the course of the day. Since then, it’s been in and out of the red, ultimately gaining another 0.5%.

Boral share price snapshot

It has been a big year so far for Boral. After a messy battle, it was taken over by Seven Group Holdings Ltd (ASX: SVW) in July. After the takeover, the company’s now-former chair was quickly ousted and replaced with Seven’s CEO and managing director Ryan Stokes.

Despite the drama, the Boral share price has been flourishing. It has gained 26% since the start of 2021 and 29% since this time last year.

The post Why has the Boral (ASX:BLD) share price jumped 5% since the start of this month? appeared first on The Motley Fool Australia.

More reading

• Boral (ASX:BLD) share price lifts amid Meridian sale completion
• Here’s why the Boral (ASX:BLD) share price is lifting today
• Why the Boral (ASX:BLD) share price has underperformed the ASX 200 in the last 3 months
• The Boral (ASX:BLD) share price has fallen 17% since Seven took control

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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Until recently, the AGL Energy Limited (ASX: AGL) share price had something of a reputation as a wealth destroyer. After all, this is a company that remains down 49.88% year to date in 2021 so far. As well as down 55% over the past 12 months, and 98.3% over the past 5 years. It’s also down a shocking 78% from its last all-time high, which we saw back in 2017.

Sparking a comeback?

But could this embattled energy company be experiencing a recovery of sorts? Since bottoming out at a decades-low of $5.22 back in mid-September, the AGL share price has staged a rather dramatic comeback of sorts.

At today’s share price of $6.10 (at the time of writing), AGL is now up an impressive 16.48% from that low. AGL shares are also up a healthy 13.98% over just the past month. That’s including the 1.4% the shares have added just today so far.

So AGL shares have suffered so heavily in recent years due to a number of factors. Firstly, a deteriorating financial position hasn’t helped. AGL has spent the past year or three repeatedly downgrading earnings guidance, and delivering falling profits. For example, the company reported a revenue slide of 10% in its FY2021 earnings report back in August. That was along with a 33.5% drop in underlying profits and a 23.5% cut to its full-year dividend.

Then, we have AGL’s plans to split its business in two, which was announced in June. It plans to complete this split by the fourth quarter of FY2022. This will see AGL’s generation assets be housed in the new ‘Accel Energy’. While its retailing division, responsible for energy trading, storage and supply, will be housed under ‘AGL Australia’.

But investors haven’t taken too kindly to these plans, going off the share price reaction to this news earlier in the year.

So that’s what’s partially gone wrong with AGL. So what’s turned the sentiment ship around over the past month or so?

Could AGL shares be a buy right now?

Well, it’s not entirely clear. There have been no major news or developments out of AGL that might have had a material impact on investor sentiment in recent weeks.

It’s possible that investors just saw a company that has been severely beaten down, and have subsequently been buying on value alone.

A recent broker note could supplement this view. As my Fool colleague James covered last week, broker Ord Minnett has rated AGL as a ‘buy‘, with a 12-month share price target of $7.56. That still implies a potential upside of close to 24% in current pricing. Ord Minnett is eyeing off the upcoming demerger as a value opportunity. It reckons that “the retail business… would have a lot of appeal as a takeover target post-demerger”.

At AGL’s current share price of $6.10, the company has a market capitalisation of $4.02 billion and a dividend yield of 10.64%.

The post Why has the AGL (ASX:AGL) share price climbed 14% in a month? appeared first on The Motley Fool Australia.

More reading

• Own AGL shares? Here are the World Energy Markets Observatory’s future priorities
• Could the AGL (ASX:AGL) share price reach $7.50 by the end of 2021?
• AGL (ASX:AGL) share price slumps amid expert’s warning of earlier coal exit
• Why is the AGL (ASX: AGL) share price sliding lower on Monday?
• Why did the AGL (ASX: AGL) share price have such a shocking FY22 first quarter?

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 PayGroup Ltd (ASX: PYG) share price is soaring following the company’s latest quarterly business update and guidance upgrade.

At the time of writing, PayGroup shares are nearing their 3-month high. They are trading for 53 cents apiece, up 6% for the day.

How did PayGroup perform for the September quarter?

In its release, PayGroup reported a robust 3 months of trading for the period ending 30 September 2021.

The company signed a record $5 million in new contracts, which represents a 7% improvement on the previous quarter’s record. This brings the total sales value for the first half of FY22 to $9.6 million, up 78% compared against H1 FY21.

The 3-year contracts included a number of well-known companies such as Hudson RPO, Dexus, and Canaccord Genuity.

In a further possible boost to the PayGroup share price, the company continues to see significant momentum in the number of payslips processed. The expansion of the Laser Clinics International franchise network has led to PayGroup now providing payroll solutions for the company.

Laser Clinics International operates in North America, Australia, New Zealand, Asia, and Europe.

At an annualised rate, payslips processed stands at 7.5 million, reflecting 25% organic growth over FY21.

The Global Partner Program (GPP) sales channel has delivered PayGroup a significant stream of referrals and new contracts.

During Q2 FY22, PayGroup expanded its geographic reach and sales opportunities with new GPP agreements covering Canada and Africa. This brought the total number of countries PayGroup can service from 41 to 75 countries.

At the end of the quarter, the company held a cash balance of $7.6 million, and maintained its debt-free position.

Guidance upgrade

As a result of the robust trading conditions, PayGroup announced it has upgraded its outlook for FY22.

For the financial year, annualised recurring revenue is projected to be at least $37 million, up 36% on FY21. This is being underpinned by increasing demand for the company’s core payroll solutions.

Commenting on the news possibly fuelling the PayGroup share price, founder and managing director Mark Samlal said:

We are delighted to report the strong growth of the core payroll business across 1H FY22, and provide upgraded guidance underpinned by the significant sales momentum we are experiencing.

PayGroup continues to benefit from the investment in our sales team, with our pipeline of opportunities now 5x bigger than this time last year. We remain focused on scaling our core payroll business, which provides a large and growing number of end users to drive ongoing monetisation opportunities.

PayGroup share price summary

Despite today’s jump, the PayGroup share price is down roughly 5% for the year, and 10% in 2021.

The company has a market capitalisation of around $60.95 million and has approximately 115 million shares on its books.

The post PayGroup (ASX:PYG) share price leaps 6% on guidance upgrade appeared first on The Motley Fool Australia.

More reading

• Why BHP, Propel, Silver Lake, and Tabcorp shares are falling
• Fortescue (ASX:FMG) share price in focus as Twiggy raises the stakes for battery materials
• ANZ (ASX:ANZ) share price gains amid cybersecurity audit rumours
• Own Endeavour (ASX:EDV) shares? Here’s why the company is making news this week
• Leading brokers name 3 ASX shares to sell today

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

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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a small gain. At the time of writing, the benchmark index is up 0.15% to 7,391.8 points.

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

BHP Group Ltd (ASX: BHP)

The BHP share price is down over 1.5% to $38.57 following the release of its first quarter update. BHP had a tough quarter operationally, which led to production declines across a range of key commodities including iron ore and copper. However, management remains positive on its outlook and has reaffirmed its FY 2022 production guidance.

Propel Funeral Partners Ltd (ASX: PFP)

The Propel Funeral Partners share price has tumbled 5% to $4.20. Investors have been selling this funeral company’s shares after it completed its $52.2 million institutional placement. A total of 12.25 million new shares will be issued to new and existing institutional shareholders at $4.10 per share. This represents a 7.2% discount to its last close price. The funds will be used to pay down debt and pursue further growth initiatives and acquisitions.

Silver Lake Resources Limited (ASX: SLR)

The Silver Lake share price is down 3% to $1.58. This is despite the release of a solid quarterly update by the gold miner this morning. Following the strong quarter, Silver Lake advised that it is positioned to deliver its FY 2022 sales guidance. This is for 235,000 to 255,000 ounces of gold and 600 to 1,000 tonnes of copper at an AISC range of A$1,550 to A$1,650 per ounce. Some investors may have been expecting even better.

Tabcorp Holdings Limited (ASX: TAH)

The Tabcorp share price is down over 2.5% to $5.09. This follows the release of the gaming company’s AGM update. At the meeting, Tabcorp revealed that lockdowns have negatively impacted the company’s performance during the quarter. Tabcorp’s group revenue fell 7% compared to the prior corresponding period. This was driven partly by a 19% decline in Keno revenue.

The post Why BHP, Propel, Silver Lake, and Tabcorp shares are falling appeared first on The Motley Fool Australia.

More reading

• Which ASX 300 shares are the biggest winners and losers on Tuesday?
• ASX 200 (ASX:XJO) midday update: BHP’s Q1 update, CSL’S R&D update
• Tabcorp (ASX:TAH) share price slides after trading, demerger update
• Why is the Propel Funeral (ASX:PFP) share price down 7% today?
• BHP (ASX:BHP) share price on watch after Q1 update and reaffirming guidance

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 Propel Funeral Partners 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 Fortescue Metals Group Limited (ASX: FMG) share price is on the minds of investors today after another Andrew ‘Twiggy’ Forrest company, Wyloo Metals, all but buys up Canadian listed nickel miner Noront.

At the time of writing, shares in the iron-ore miner are trading for $14.57 – down 1.15%. For context, the S&P/ASX 200 Index (ASX: XJO) is 0.14% higher.

Let’s take a closer look at today’s news.

Why is Fortescue on everyone’s mind?

Twiggy’s Wyloo Metals, a wholly-owned subsidiary of Forrest’s investment company, Tattarang,  will almost certainly acquire Noront for 70 Canadian cents per share. It trumps an offer from BHP Group Ltd (ASX: BHP) of 55 Canadian cents per share.

“The Noront board of directors has determined that Wyloo Metals’ proposal represents superior value for our shareholders, compared to the offer by BHP,” Noront chief executive Alan Coutts said.

Again, it should be stressed that Wyloo Metals and Tattarang are separate from Fortescue. Given the involvement of Andrew Forrest, however, it’s no surprise the Fortescue share price is also in the limelight.

According to The Age, the battle for Noront between the two mining giants is a signal of the “accelerating efforts” of resource companies to get ahead of the incoming electric vehicle revolution. Metals like nickel and lithium are essential in the manufacturing of electric vehicle batteries.

Noront has a significant claim in one of Canada’s largest potential mineral reserves, the largely undeveloped “Ring of Fire” region in northern Ontario. It’s an area Wyloo says it wants to develop into a “world-class Future Metals hub”. However, it seems to be having little effect on the Fortescue share price.

“The Ring of Fire is a long-term mining district with a present-day value that is impossible to accurately quantify,” Wyloo Metals chief executive Luca Giocavazzi said.

The deal is expected to be finalised around December. While BHP has the right to match Wyloo’s offer, this is not expected to occur.

Fortescue share price snapshot

Over the past 12 months, the Fortescue share price has dropped 13.3%. Year-to-date, shares in the company have depreciated a mammoth 41.2%. Its 52-week high is $26.58 per share and its 52-week low is $13.91 per share.

Fortescue Metals has a market capitalisation of about $45 billion.

The post Fortescue (ASX:FMG) share price in focus as Twiggy raises the stakes for battery materials appeared first on The Motley Fool Australia.

More reading

• Why is the Fortescue (ASX:FMG) share price stalling on Monday?
• 5 things to watch on the ASX 200 on Monday
• How fast is green hydrogen growing and which ASX shares could benefit?
• Own Fortescue (ASX:FMG) shares? Here’s the latest on China’s steel demand
• Fortescue (ASX:FMG) share price rises amid Gigafactory plans with Plug Power

Motley Fool contributor Marc Sidarous 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 Australia and New Zealand Bank Group Ltd (ASX: ANZ) share price is gaining amid reports the bank hired external auditors after major security breaches.

According to The Age, some former employees of the bank were able to continue to access the bank’s internal systems despite their contracts ending.

However, ANZ disputed the reports. In a statement, an ANZ spokesperson said, “[T]here have been no material breaches related to ANZ employees or contractors that have left the bank.”

At the time of writing, the ANZ share price is $28.28, 0.14% higher than its previous closing price.

That’s in line with the broader market’s movements today. Right now, the S&P/ASX 200 Index (ASX: XJO) and the All Ordinaries Index (ASX: XAO) are both up 0.2%.

Let’s take a closer look at the rumours facing Australia’s third-largest bank by market capitalisation.

ANZ faces reports of security breaches

The ANZ share price is holding its position on the ASX on Tuesday. Meanwhile, rumours are swirling the bank is struggling to retain security as its technology ages.

The Age cites unnamed sources as claiming former employees and previously-contracted technology developers located offshore have managed to evade the bank’s automated security controls.

The publication also pointed to a disclosure report from 2020 that noted the bank called upon auditor KPMG to test the bank’s technological defences. Additionally, The Age reported PwC has been working on improving ANZ’s “approach to identity management”.

Further, the bank recently looked to onboard information technology specialists to work on identity and access management.

An ANZ spokesperson disputed the reports, saying cyber security is one of the bank’s top priorities:

ANZ has automated processes that terminate critical system access when staff members or contractors leave ANZ. This process has been tested and audited by both internal and external teams and found to be effective…

We invest in sophisticated capability including an in-house 24/7 Security Operations Centre and a range of monitoring and analysis tools and continue to upgrade these capabilities in line with changing threats.

ANZ share price snapshot

It is unlikely the ANZ share price has moved due to today’s headline. In fact, the bank’s stock has been having a great run lately.

It is currently trading for 24% more than it was at the start of 2021. It’s also 45% higher than it was this time last year.

The post ANZ (ASX:ANZ) share price gains amid cybersecurity audit rumours appeared first on The Motley Fool Australia.

More reading

• 2 ASX 200 dividend shares to buy now
• Should you buy ANZ (ASX:ANZ) shares in October for the dividend yield?
• Legal risk just increased for the Westpac (ASX:WBC) share price
• The ANZ (ASX:ANZ) dividend yield is topping the big four ASX bank shares
• Could the ANZ (ASX:ANZ) share price reach $35 by Christmas?

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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Endeavour Group Ltd (ASX: EDV) shares are heading downwards for a second consecutive session today. This comes after the drinks and hospitality company unveiled its own sustainability strategy in it’s maiden sustainabilty voyage.

Around midday, the Endeavour share price is sliding lower to $6.80, down 0.87%. Despite this, the drinks company has outperformed its old acquaintance, Woolworths Group Ltd (ASX: WOW), over the last month. Presently, Endeavour is up 3.95% for the 30-day period, while Woolies is up a lesser 2.91%.

Notably, this is the first peek into Endeavour’s sustainability plans since demerging from Woolworths.

What tackling sustainability means for Endeavour shares

According to the release, the company has a plethora of goals and commitments rooted in ‘creating a more sociable future together’. Firstly, the goals listed are separated into three categories: responsibility and community, people, and planet. Furthermore, there are a total of 11 goals spread across these 3 categories. Examples include:

• Partnering with experts to identify potential strategies to address alcohol and gambling-related harm in the community;
• Respect and promote human rights and ethics in operations and supply chain; and
• Adopt and maintain sustainable practices in the use of natural resources.

For each of the 11 goals listed, Endeavour Group also provides an accompanying commitment. Importantly, these commitments make progress quantifiable for the company — as such, here are some examples from the report:

• By 2025, reach 5 million people with campaigns on responsible consumption and harm minimisation;
• Achieve board and senior leadership diversity balance of 40:40:20;
• By 2030, source 100% renewable electricity to power the business;

Interestingly, the company plans to use facial recognition and predictive algorithms to help address problem gamblers and drinkers. This approach is already being trialled via its Jimmy Brings alcohol delivery business.

Management’s take

Prior to the recent fall in Endeavour shares, CEO Steve Donohue commented on the strategy, stating:

While sustainability has always been central to how we operate, the launch of our first sustainability strategy as an independently listed business is a significant milestone in setting the course for the next phase of our journey.

Additionally, regarding the implementation of technology and research to reduce alcohol and gambling harm, Donohue stated:

An example of a research-led industry partnership is our recent collaboration with DrinkWise whose research found low and non-alcoholic drinks options can help customers moderate their drinking. On the back of this research, we are no trailing dedicated zero, low and mid-strength sections in selected Dan Murphy’s and BWS stores to see how we can best help customers who wish to reduce their alcohol consumption.

While this looks positive at face value, the company is still trying to shake its past Darwin woes. This involved the controversial proposal to construct a Dan Murphy’s outlet near dry communities in the Northern Territory city. However, this plan has since been scrapped after heavy scrutiny by an independent review.

Finally, Endeavour shares will be on watch tomorrow, with the company expected to release a first-quarter trading update.

The post Own Endeavour (ASX:EDV) shares? Here’s why the company is making news this week appeared first on The Motley Fool Australia.

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

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