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The Australia and New Zealand Banking Group Ltd (ASX: ANZ) share price is down 0.54% in early afternoon trade, at $27.72 per share.

That’s a tad better than the broader S&P/ASX 200 Index (ASX: XJO), down 0.82% at the same time.

It’s been a bit over 4 months now since ANZ reported its half-year results for the 6 months ending 31 March.

Below is a brief recap of those results, and a look at how the ANZ share price has been tracking since the bank’s report.

What half year results did the big 4 bank report?

The ANZ share price was on investors’ radars on 5 May, when the bank reported its half-year results before the market open.

Some of the key takeaways from the results were a statutory profit after tax of $2.94 billion. That was up 45% from the prior corresponding period (pcp).

The bank also reported a return on equity (ROE) of 9.7%. And cash earnings from continuing operations of $2.99 billion were up 28% compared to the pcp.

Investors were also rewarded with a fully franked interim dividend of 70 cents per share.

Commenting on the bank’s results and outlook, ANZ’s CEO, Shayne Elliott said:

ANZ is in a strong position both financially and operationally. We are well capitalised and our disciplined approach to costs over many years has us well placed to invest in opportunities to grow our business in targeted segments. The work to digitise core processes and platforms continues at pace and this will be more visible to customers towards the end of the year.

What’s happened to the ANZ share price since reporting?

The ANZ share price closed down 3.2% on 5 May, the day the bank reported. This came despite the bank broadly beating consensus analyst expectations.

Since the market close on 4 May, the ANZ share price is down 3.41%. By comparison, the ASX 200 index is up 4.7% over that same time.

The post How has the ANZ share price performed since reporting results? appeared first on The Motley Fool Australia.

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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 Electro Optic Systems Holdings Ltd (ASX: EOS) share price is having a rough month on the ASX.

The company’s share price tumbled on the back of its half-year results and it hasn’t managed to recover since.

This time last month, the Electro Optic Systems share price closed at $4.12. At the time of writing, it’s $3.59, having fallen 0.83% this morning. That represents a 12.8% tumble over the course of a single month.

Could the technology company‘s half-year report really have caused such a plummet? Let’s take a look.

What’s weighing on the tech company’s shares?

Electro Optic Systems’ stock has been struggling these last few weeks.

The source of its troubles might be the company’s half-year results, which were released on 30 August.

The company reported its revenue for the 6 months ended 30 June 2021 had increased 30% on that of the prior comparable period. Additionally, the company’s statutory earnings before interest and tax also increased 58%, while its operating cash flow reached $4.6 million.

However, Electro Optic Systems reported an operating loss after tax of $11.7 million. Though, that was better than the prior comparable period’s $14.2 million loss.

The Electro Optic Systems share price plunged 4.4% on the day its results were announced, before falling another 9.7% the following day. So far, it has only managed to scrape back 1.4%.

While it could be easy to blame Electro Optic Systems’ half-year results for its recent poor performance, there are also short sellers to factor into the equation.

As The Motley Fool Australia regularly reports, Electro Optic Systems is often among the ASX’s most shorted shares.

In fact, last week 9.2% of the company’s shares were in short positions.

Electro Optic Systems share price snapshot

Its poor performance over the last month has added to Electro Optic Systems’ stock’s struggles.

It’s currently 38.9% lower than it was at the start of 2021. It has also fallen 31.6% since this time last year.

The post Why has the Electro Optic Systems (ASX:EOS) share price slumped 13% in a month? appeared first on The Motley Fool Australia.

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• Electro Optic Systems (ASX:EOS) share price falls despite revenue growth

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. owns shares of and has recommended Electro Optic Systems Holdings Limited. The Motley Fool Australia owns shares of and has recommended Electro Optic Systems Holdings 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 IntelliHR Ltd (ASX: IHR) share price is taking a dive today, down 10.34% at 26 cents. Although, in early trade, shares reached a low of 24 cents apiece.

This follows the completion of the data analytics company’s recent $11.5 million placement.

What’s impacting the IntelliHR share price today?

In a release to the market this morning, IntelliHR informed investors of its successful capital raising. The placement was conducted at 23 cents per share — receiving “very strong” interest.

According to the announcement, the capital raising gained the backing of a number of leading Australian and offshore institutional and sophisticated investors.

The offer price represented a steep 20.7% discount to the last close price of 29 cents. This significant discount, coupled with the share count being diluted by roughly 18%, is likely contributing to the IntelliHR share price weakness today.

Approximately 50 million new IntelliHR shares at the issue price of 23 cents were allocated, resulting in $11.5 million being raised in total before costs.

These funds will be put towards various drivers for the continued growth of the IntelliHR business. These include expanding its global integrations and referral partnership channels; accelerating growth in domestic and global customer business development; and building out enterprise customer platform capabilities.

Additionally, approximately 6.5 million existing shares were divested by managing director Robert Bromage. Despite this selldown, Bromage remains the second-largest shareholder in the company, holding approximately 21 million IntelliHR shares. The sale is said to be for funding the purchase of a residential property.

Bromage commented on the placement that is likely affecting the intelliHR share price:

Thanks to record global organic growth during FY21 and recent channel partnership successes, this capital raising presented us with the opportunity to introduce a number of leading Australian and international institutional investors onto the register.

With intelliHR continuing to invest in accelerating global growth, the introduction of these investors onto the register will strongly support our growth aspirations given their SaaS [software as a service] sector investing track record and significant funds under management.

What’s next?

The issuing of approximately 46.38 million shares will be conducted on or around 27 September 2021. These are not subject to shareholder approval.

However, the 3.62 million new shares placed with IntelliHR’s largest shareholder, Colinton Capital Partners, will be subject to shareholder approval. In fact, shareholders will vote on it at the annual general meeting in November.

The intelliHR share price is down by around 50% since the start of the year but is up by about 28% in the past 12 months.

Based on the current IntelliHR share price, the company’s market capitalisation stands at around $89.4 million when accounting for dilution.

The post Here’s why the IntelliHR (ASX:IHR) share price is plunging 10% today appeared first on The Motley Fool Australia.

More reading

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• This ASX share doubled this year, but plenty more to come: experts
• Why the AMA (ASX:AMA) share price is lifting 5% on Friday
• Broker tips Aristocrat Leisure (ASX:ALL) share price to keep rising

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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At lunch on Friday, the S&P/ASX 200 Index (ASX: XJO) is on course to end the week on a disappointing note. The benchmark index is currently down 0.85% to 7,396.2 points.

Here’s what is happening on the ASX 200 today:

Fortescue shares weigh on ASX 200

Fortescue Metals Group Limited (ASX: FMG) shares and other mining giants are weighing heavily on the ASX 200 today. Due partly to another heavy decline in the iron ore price overnight, Fortescue’s shares are down over 9%. Also weighing on the company’s shares is a broker note out of UBS this morning. According to the note, the broker has downgraded its shares to a sell rating and cut the price target on them to a lowly $15.00.

IRESS takeover talks end

The IRESS Ltd (ASX: IRE) share price is sinking today after takeover talks with EQT collapsed. This morning the financial technology company advised that discussions between it and EQT have now concluded and the parties have been unable to agree a transaction. EQT had tabled a non-binding offer of $15.91 cash per share.

Gold miners fall

Many of Australia’s leading gold miners, such as Newcrest Mining Ltd (ASX: NCM) and St Barbara Ltd (ASX: SBM), have fallen today after the gold price dropped to a one-month low. According to CNBC, the spot gold price is down 2.3% to US$1,754.10 an ounce. Better than expected economic data in the US put pressure on the precious metal. The S&P/ASX All Ordinaries Gold index is down 3.4% at lunch.

Best and worst ASX 200 performers

The best performer on the ASX 200 on Friday has been the Pointsbet Holdings Ltd (ASX: PBH) share price with a 5% gain. A number of tech shares are rising today after a positive night on the Nasdaq index. The worst performer has been the IRESS share price with an 11% decline following its takeover collapse.

The post ASX 200 (ASX:XJO) midday update: Fortescue crashes, IRESS sinks appeared first on The Motley Fool Australia.

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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 Pointsbet Holdings Ltd. The Motley Fool Australia has recommended Pointsbet Holdings 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 Rio Tinto Limited (ASX: RIO) share price has gone from bad to ugly, hitting an intraday low of $99.02 on Friday.

At the time of writing, shares in the iron ore major are down 3.1% to $100.46.

Iron ore bulls might want to look away

Iron ore prices have been under immense downward pressure since late July after China announced its plans to cap the country’s steel output to no more than 2020 figures.

The price of the black rock has since cratered from record highs of about US$230 per tonne in May to a 14-month low of US$107.2 per tonne on Thursday, according to Fastmarkets.

This move is broadly consistent with the Rio Tinto share price tumbling to 11-month lows on Friday.

According to Rio Tinto’s half-year results, the company’s average realised price for iron ore was US$168.4 per tonne.

With current spot prices well below what Rio Tinto was receiving, this could only mean bad news for its margins and near-term outlook.

Why did iron ore halve in less than 4 months?

A number of factors relating to China have chipped away at the value of iron ore.

More recently, S&P Global reported that China was “on track to reduce its 2021 crude steel output below the 2020 level for the first time since 2016”.

According to the report, “China’s August crude steel output dropped 13% on the year and fell 4.1% on the month, to 80.24 million mt, the lowest level seen since March 2020.”.

The drivers behind the sudden slowdown in crude steel output include government mandates on production, energy consumption controls and weak demand from the property sector.

S&P Global warned that tightening credit and a slowdown in China’s property sector could spark more weakness for near-term demand.

It said: ” … Chinese property developer Evergrande Group on Sept. 14 flagged a possible default on loans due to a slowdown in property sales.

“The Shenzhen-based company has incurred liabilities of roughly $305 billion. A default on credit could likely spark a domino effect in China’s property sector, and result in lower steel and raw materials prices in Q4,” according to S&P Global Platts Analytics.

Rio Tinto share price falls on high volume

The Rio Tinto share price has managed to bounce off its intraday low of $99.02 today and is holding above $100 at the time of writing.

Approximately 2.96 million Rio Tinto shares have traded hands so far today, compared to its current 10-day average volume of 1.51 million shares.

The post Rio Tinto (ASX:RIO) share price breaks below $100 for the first time since November 2020 appeared first on The Motley Fool Australia.

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Motley Fool contributor Kerry Sun 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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There is an ASX share that’s more than doubled its price this year, but some experts reckon it’s perfectly positioned to grow even further in the post-COVID world.

Wilson Asset Management portfolio managers Matthew Haupt, Catriona Burns and Oscar Oberg said in a memo to clients that 2 of their funds currently held Maas Group Holdings Ltd (ASX: MGH) shares.

“The Australian Securities Exchange (ASX) has a rich history of founder-led companies delivering stand-out returns for investors,” they wrote.

“MAAS Group is one such company that demonstrates the key attributes of a successful founder-led company which we believe has a significant runway for value creation over the medium term.”

After floating on the ASX in December, MAAS shares started the year at $2.65. That’s risen more than 103%, to trade at $5.43 on Friday morning.

What is MAAS Group?

Former South Sydney NRL player Wes Maas had no vocational qualifications when his rugby league career ended prematurely due to a serious injury in 2002.

So he spent his entire savings to buy a bobcat, which he hired out to construction businesses. 

The rest is history.

“The group has expanded significantly since, culminating in the successful initial public offering [IPO] of the business in December 2020 at $2 per share at an implied valuation of over $600 million,” said the Wilson portfolio managers.

“Wes retained 69% of the shares in the company while employees were also granted significant equity.”

Haupt, Burns and Oberg love that management and staff own so much of the business.

“‘Skin in the game’ ensures strong alignment with shareholders, whilst underpinning the entrepreneurial spirit of the organisation.”

Far from just a single bobcat for hire, the mammoth business now provides “vertically integrated” construction materials and equipment services, as well as undertaking property development.

How can MAAS shares grow further?

Despite the significant upwards run in stock price, the Wilson fund managers reckon MAAS plays in segments that are set to take off after this COVID-19 Delta strain is put behind us.

“With strategically located quarry assets, significant latent capacity and a substantial pipeline of infrastructure spend expected over the coming 3 to 5 years, we believe the organic growth outlook for the business is compelling.”

There is further potential with acquisitions on top of organic growth.

“This week, MAAS Group announced it had signed an agreement for the acquisition of Earth Commodities hard rock quarry operations in central Queensland, enabling the company to realise synergies within its central Queensland construction materials business and enhance its growth opportunities in the year ahead.”

The potential of the property development arm, the Wilson experts think, is not well understood by investors.

“The property development business remains an underappreciated aspect of MAAS Group, providing exposure to high growth corridors across both residential and commercial real estate,” they wrote.

“And we see potential for separate listed vehicles in the future.”

The post This ASX share doubled this year, but plenty more to come: experts appeared first on The Motley Fool Australia.

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Motley Fool contributor Tony Yoo 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 AMA Group Ltd (ASX: AMA) share price is on the move in morning trade. This comes after the automotive parts and smash repair company invited eligible investors to its retail entitlement offer.

At the time of writing, AMA shares are travelling 5.21% higher to 51 cents.

Details of the retail component

Last week, AMA announced its intentions to raise approximately $150 million through a $100 million fully-underwritten equity raising. This consists of both a completed $53 million institutional offer and the current $43 million retail entitlement offer. Another $50 million comprises of the convertible notes offer, which has since been successfully completed and is expected to settle on 21 September.

However, the company revealed the details of the second part of its accelerated non-renounceable pro rata entitlement offer.

The retail entitlement offer allows shareholders to subscribe for 1 new AMA share for every 2.8 existing AMA shares held. The issue price is set at 37.5 cents per share which is the same offered in the institutional entitlement offer. This represents a 10.7% discount to the closing price of 42 cents per share when the offer was announced on 3 September. It’s expected that around 125 million new shares will be created.

The net proceeds of the entitlement offer and the convertible notes offer will be used to repay some debt facilities. In addition, a portion of the monies will be set aside for working capital, liquidity, and supporting growth initiatives.

The retail offer opens today and closes on 30 September 2021. Settlement is scheduled to occur on 6 October, with allotment on the following day.

About the AMA share price

It’s been a rollercoaster 12 months for AMA Group shares, registering a 25% loss for the period. When looking at year-to-date, its shares are in the red further by almost 35%.

AMA Group has a market capitalisation of about $380.7 million, with over 746 million shares on its books.

The post Why the AMA (ASX:AMA) share price is lifting 5% on Friday appeared first on The Motley Fool Australia.

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

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The Aristocrat Leisure Limited (ASX: ALL) share price is trading lower on Friday.

In morning trade, the gaming technology company’s shares are down almost 1% to $46.86.

While today’s decline is disappointing, it isn’t enough to take the shine off its 2021 performance.

Since the start of the year, the Aristocrat Leisure share price is up ~50%.

Where next for the Aristocrat Leisure share price?

This morning the team at Goldman Sachs gave their verdict on the Aristocrat Leisure share price.

This follows the company’s virtual investor round table event ahead of the start of its new financial year next month.

However, while the broker has retained its buy rating, its price target of $48.60 implies only modest gains ahead.

What did the broker say?

Goldman’s analysts appear to have come away from the event feeling confident in the company’s growth outlook.

In respect to its poker machines business, the broker commented: “Management highlighted the strength of its land based business where it continues to take share in its core markets, as evident in some recent surveys and noted ~3x floor avg across premium games.”

It was a similar story for the company’s Digital segment, which continues to perform strongly.

Goldman said: “Generally, RAID continues to scale albeit not at the same rate as a year ago, whilst Evermerge remains attractive and Mech Arena just launched globally in August and is now scaling. They remain focused on not just top line growth but profitable growth, noting that the group continues to grow above industry levels off organic drivers over the past two years rather than boost from acquisitions.”

Aristocrat Leisure also spoke about potential M&A activity, noting the strength of its balance sheet.

Its analysts explained: “Balance sheet strength remains, and management continues to watch M&A closely as an option to accelerate growth like they have in the past, though highlighted their discipline on this front including criteria that it needs to be accretive from day 1 and fits in and allows the group to scale the acquisition.”

All in all, Goldman appears happy with what it heard and continues to forecast strong earnings growth in the coming years. For example, the broker has pencilled in earnings per share of $1.30 in FY 2021 and then $1.69 and $1.91 in FY 2022 and FY 2023, respectively.

The post Broker tips Aristocrat Leisure (ASX:ALL) share price to keep rising appeared first on The Motley Fool Australia.

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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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The Afterpay Ltd (ASX: APT) share price is charging higher in early trade today, up 2.69% to $126.86.

The S&P/ASX 200 Index (ASX: XJO) is headed the other way, down 0.96%.

A bit over 3 weeks have now passed since the ASX buy now, pay later (BNPL) giant reported its full-year results for the 2021 financial year (FY21). So, it’s time to see how the Afterpay share price has been performing since then.

We take a look at that, and a brief review of those FY21 results, below.

What results did the ASX 200 BNPL company report for FY21?

The Afterpay share price was on watch on 25 August, the day the company released its FY21 results.

Some core metrics included a 90% increase in underlying sales to $21.1 billion. Total income also leapt 78%, reaching $924.7 million for the year ending 30 June.

Afterpay also grew its customer numbers to 16.2 million, up 63% year-on-year. That was helped by a 77% boost in its active merchant numbers, which hit 98,200 by the end of FY21.

Despite that strong growth, earnings before interest, taxes, depreciation, and amortisation (EBITDA) of $38.7 million were down 13% from FY20. The company’s net transaction loss also increased 210% year-on-year to $132.6 million.

Commenting on the growth outlook for the BNPL sector, Afterpay’s chair Elana Rubin said:

Global research continues to indicate that credit cards and credit-based products are in decline, while BNPL continues to expand as a preferred way to pay. Millennials and Gen Z are less likely than their parents to use a credit card, and more likely to engage with organisations and brands that they trust.

This looks likely to be the last full-year financial results we’ll get to analyse Afterpay’s share price.

The company also announced its $39 billion acquisition by Square Inc (NYSE: SQ) is on track for completion in the first quarter of 2022.

How has the Afterpay share price moved since reporting results?

The Afterpay share price fell 1.2% on the day it reported results.

While gaining in intraday trade today, Afterpay shares are down 6% since market close on 24 August.

By comparison, the ASX 200 is down 1.5% over that same period.

The post How has the Afterpay (ASX:APT) share price performed since reporting results? appeared first on The Motley Fool Australia.

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The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended AFTERPAY T FPO and Square. The Motley Fool Australia owns shares of and has recommended AFTERPAY T FPO. 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 Australasian Gold Ltd (ASX: A8G) share price is soaring today following the release of a project update.

The company announced it has officially struck gold at its May Queen Gold Project. Meanwhile, a date for the beginning of exploration at its Mt Peak Lithium Project has been set.

Right now, the Australasian Gold share price is 43 cents, 65.38% higher than its previous close. Shortly after open, the share price rocketed to a new high of 49 cents but has since pulled back a little.

Let’s take a closer look at today’s news from the gold exploration company.

Today’s news from Australasian Gold

The Australasian Gold share price is surging higher this morning following news about 2 of its projects.

Perhaps the most exciting news is the results of the company’s May Queen Project maiden drilling program.

The drilling program has found evidence of a potential gold-copper porphyry system, with assay results including 6 metres at 1.99 grams of gold per tonne from 35 metres and 1 metre at 9.39 grams of gold per tonne from 68 metres.

Additionally, surface rock chip sampling found up to 2.66 grams of gold per tonne and 3.43% copper at the project.

Australasian Gold will now complete more geophysical surveys to define potential silica enriched areas with possible disseminated sulphides. The survey’s results will help a follow-up reverse circulation drilling program that’s set to begin in the coming months.

The company also announced that it plans to begin exploration at its Mt Peak Lithium Project on Sunday.

Four geologists will begin conducting surface and rock chip sampling after satellite image investigations highlighted areas with pegmatite outcrops within the project.

Australasian Gold share price snapshot

Today’s gains have added to the strong recent performance of the Australasian Gold share price.

Right now, the shares are trading 115% above their Initial Public Offering (IPO) price in May 2021.

The post Australasian Gold (ASX:A8G) share price explodes 65% on project updates appeared first on The Motley Fool Australia.

More reading

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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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