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The Hazer Group Ltd (ASX: HZR) share price has slipped in early trade.

Shares in the hydrogen and graphite company have tumbled recently following a capital raise.

Let’s take a closer look at the Hazer share price.

What’s been dragging the Hazer share price?

Shares in Hazer have been weighed down by the company’s $7 million capital raising.

Earlier today, the company released documentation inviting eligible shareholders to participate in the Share Purchase Plan (SPP).

Eligible retail shareholders will be able to subscribe for up to A$30,000 worth of fully paid ordinary shares.

These new shares in Hazer will be available at a subscription price of A$0.92 per share.

The SPP will open on 17 September and close on 15 October and be capped at a maximum of $7 million.

Hazer announced early this week that it had completed its placement with institutional and sophisticated investors, with 7.6 million new ordinary shares to be issued.

According to the company, funds raised from both capital raises will be used to expand business development activities for the Hazer Commercial Demonstration Project (CDP).

Furthermore, Hazer also plans on funding continued research and development programs to enhance its graphite advanced carbon material.

More on Hazer

Hazer is a technology development company that is focused on commercialising a low-emission hydrogen and graphite production process.

The Hazer Process enables the effective conversion of natural gas and similar methane feedstocks, into hydrogen and high quality graphite, using iron ore as a process catalyst.

The company recently provided an update on its CDP being constructed at Water Corporation’s Woodman Point Water Recovery Facility.

Hazer advised shareholders that COVID-19 restrictions have caused some delays with the fabrication.

As a result, the project is now estimated to be in commission in the first quarter of FY22. Hazer had previously targeted December 2021 as the commission date.

Snapshot of the Hazer share price

Despite slipping in the past week, shares in Hazer have performed strongly for the year.

Since the start of 2021, the Hazer share price is trading more than 17% higher.

At the time of writing, shares in the mineral technology company are trading more than 2% lower for the day at around 94 cents.

The post Why the Hazer (ASX:HZR) share price is slipping on Friday appeared first on The Motley Fool Australia.

More reading

• Hazer (ASX:HZR) share price slides 11% following capital raise update
• A closer look at how ASX hydrogen shares are faring in 2021?
• Why is the Hazer (ASX:HZR) share price frozen?
• Hazer Group (ASX:HZR) share price sinks 6% as after-tax loss widens in FY21

Motley Fool contributor Nikhil Gangaram 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 Fortescue Metals Group Limited (ASX: FMG) share price is cratering amid plunging iron ore prices and weakening Chinese demand.

Shares in the iron ore giant continue to fall on Friday, down 8.29% at $15.82 in early trading.

Fortescue share price hits fresh 12-month lows

Iron ore prices started the week at US$123.8 per tonne according to Fastmarkets.

By Thursday night, Fastmarkets reported that sustained demand weakness drove iron ore prices to just US$107.2 per tonne.

This means that prices have plunged more than 50% since May record highs of US$230 per tonne.

The last time iron ore traded near US$100 was around early August last year, broadly consistent with the Fortescue share price making fresh 12-month lows on Friday.

What’s driving iron ore prices lower?

There’s been a major slowdown in Chinese demand due to government restrictions on steel output in addition to broader weakness in industrial and construction activity.

S&P Global reported that China’s August crude steel output fell 13% year-on-year and dropped 4.1% month-on-month to 80.24 million metric tonnes. Figures have not dropped this low since March 2020.

The report warned that China’s crude steel output was likely to drop further in September and October, as major steelmaking provinces have been forced to widen steel output cuts to meet energy consumption guidelines.

In addition, it warned that “China’s steel prices are unlikely to gain much momentum from output cuts in Q4, mainly because domestic demand has also softened due to a slowing property sector, according to sources”.

Fortescue was able to leverage sky-high iron ore prices at the beginning of the year, but that is now unravelling as demand from China’s key property and infrastructure wanes.

The Fortescue share price is down 36% year-to-date and has given back all its hard-earned gains from the past 12 months.

The post Why the Fortescue (ASX:FMG) share price is down 8% today appeared first on The Motley Fool Australia.

More reading

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• Fortescue (ASX:FMG) share price at year-to-date lows, analysts slash iron ore forecasts
• The Fortescue (ASX:FMG) share price is down 31% in 7 weeks. What’s next?

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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It’s been a big month for the Pan Asia Metals Ltd (ASX: PAM) share price.

The company has released plenty of news over the last 30 days, including updates from its Reung Kiet Lithium Prospect and news of an $8 million capital raise.

Right now, the Pan Asia share price is 47 cents, 176% higher than it was this time last month. It is also up 3.3% on the day.

Let’s take a closer look at what’s been driving the Pan Asia share price lately.

Quick refresher

Pan Asia is a minerals explorer focused on tungsten and lithium projects in Thailand.

The Pan Asia share price’s recent surge began when the company announced it had lodged prospecting licence applications for 5 prospects at its Kata Thong Lithium Project on August 31.

Less than a week later, the company announced news of an $8 million capital raise.

Then, Pan Asia released exciting drill results to the market. As The Motley Fool Australia reported, the company said it had found thick pegmatites, indicating lithium mineralisation, at its Reung Kiet Lithium Prospect.  

Between announcing the news of its Kata Thong Lithium Project and the news from its Reung Kiet Lithium Prospect, the Pan Asia share price gained a massive 353%.

The latest from Pan Asia

The latest news to drive the Pan Asia share price was released on Tuesday.

Then, the company released its share purchase plan’s documentation and a drilling update from its Reung Kiet Lithium Prospect.

The drilling update noted Pan Asia received positive assay results from 7 drill holes, finding pegmatite dyke-vein swarms containing lithium mineralisation.

The swarm is up to 100 metres wide, containing pegmatite veins and dykes up to 18 metres wide. The mineralisation is around 1 kilometre long and remains open to the north, south, and at depth.

The assay results also found tin, tantalum rubidium, cesium, and potassium mineralisation. These could become valuable by-products from the project.

A scoping study for Pan Asia’s Reung Kiet Prospect is set to be released in the first quarter of 2022.

Additionally, Pan Asia released more details of its $8 million capital raise.

The company has already completed a $6 million private placement and plans to begin a $2 million share purchase plan.

Under the plan, eligible shareholders can get their hands on additional Pan Asia shares for 40 cents apiece.

The raised capital will go towards drilling at the Reung Kiet Lithium Project and exploration applications at the Kata Thong Project. Some of the funds will go to the company’s battery and critical metal project generation program.

Investors involved in the share purchase plan must purchase between $2,500 and $30,000 worth of shares. Shares will only be offered in parcels valued at $2,500, $5,000, $7,500, $10,000, $15,000, $20,000, or $30,000.

Pan Asia share price snapshot

Its strong month’s performance has boosted the already well-performing Pan Asia share price higher.

Right now, it is 235% higher than it was at the start of 2021. It has also gained 135% since this time last year.

The post Why the Pan Asia (ASX:PAM) share price has gained 176% in a month appeared first on The Motley Fool Australia.

More reading

• Why the Pan Asia Metals (ASX:PAM) share price is rocketing 39% today
• Up 265% in 5 days, why the Pan Asia Metals (ASX:PAM) share price is rocketing 23% today
• Pan Asia Metals (ASX:PAM) share price soars another 53% following results update
• Pan Asia Metals share price soars 130% on lithium project 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.

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BHP Group Ltd (ASX: BHP) shares have struggled in recent months. The Aussie iron ore giant has seen its value drop 20.8% on the ASX in the past month to a $199.7 billion market capitalisation.

Investors might be alarmed to see such a huge drop in value from an ASX large cap. The good news is, however, there’s more to the recent share price declines than meets the eye.

Why BHP shares are down 20% in the past month

It has been a busy time for BHP recently. There was the group’s August full-year earnings result followed up by the merger announcement with Woodside Petroleum Limited (ASX: WPL).

Woodside will merge with BHP’s petroleum division to create a global top 10 independent energy company by production. The news was big for both Woodside and BHP, but it doesn’t necessarily explain the recent decline in BHP shares.

Rio Tinto Limited (ASX: RIO) shares are down 10.9% in the past month while Fortescue Metals Group Limited (ASX: FMG) shares have slumped 26.3%. Tumbling iron ore prices amid changing market conditions in China has certainly hurt the large Aussie miners.

There is also the recent changes announced in the August results regarding organisational restructure. BHP is planning to drop its dual listing in the UK on the London Stock Exchange as part of the changes.

The subsequent sell-down from UK funds on the back of the news has therefore made the BHP UK price plummet. That price drop may also have had a knock-on effect for the Aussie listing as investors recalibrate amid the UK valuation changes.

That means that while the BHP share price has tumbled in the past month, it may not be as simple as Rio Tinto being “the better pick”. It’s a busy period for the Aussie iron ore miner right now and that means identifying what’s driving valuation changes is difficult for even the best investors.

The post BHP (ASX:BHP) shares are down 20% in a month. Here’s why it’s not all bad news for investors appeared first on The Motley Fool Australia.

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• How has the BHP (ASX:BHP) share price performed since reporting results?
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• Why AGL, BHP, IRESS, & Lendlease shares are dropping
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Motley Fool contributor Ken Hall 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 Altium Limited (ASX: ALU) share price is on fire right now. Shares in the Aussie tech stock have surged 19.7% higher since the end of August to $35.79 per share at Thursday’s close.

In early trade on Friday, the Altium share price is rising strongly, up by 5.72% to $36.98 at the time of writing.

So, what’s sparking the recent recovery for the WAAAX share?

Why the Altium share price is up 20% in September

Altium was a little bit late to the party on the August reporting season. The company released its full-year results on August 30 with some of the key takeaways below:

• Total revenue up 1% on the prior corresponding period (pcp) to US$191 million
• Recurring revenue share of total revenue up by 6% on pcp to 65%
• Profit before tax down 7% on pcp to US$48 million
• Earnings before interest, tax, depreciation, and amortisation (EBITDA) down 3% on pcp to US$60 million
• Net profit after tax up 80% on pcp to US$35 million

At first glance, it appears to have been a bit of a mixed bag for Altium. The company’s shares slumped following the earnings release but have been climbing strongly in September.

The Altium share price is underperforming the S&P/ASX 200 Index (ASX: XJO) in 2021. It is up 6.8% year to date compared to the index at 10.6%.

Broker says ‘buy’

One factor at play for the recent gains has been positive broker notes. Citi recently upgraded the company’s shares to a ‘buy’ rating in a recent note with a $35.40 price target. That helped boost the Altium share price higher in early September as investors reacted to the news.

While Altium is lagging the index in 2021, it’s not all bad news for buy and hold investors. Shares in the electronic design software provider are up 294% in the past 5 years, excluding dividends.

The post Why the Altium (ASX:ALU) share price is up 20% in September appeared first on The Motley Fool Australia.

More reading

• These ASX tech shares have been tipped as buys by analysts
• Here are the top 10 ASX shares today
• ASX 200 tech shares are dragging the market on Monday
• Here’s what this top broker thinks of the Altium (ASX:ALU) share price
• How have ASX technology shares performed during the August 2021 earnings season?

Motley Fool contributor Ken Hall 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 Altium. The Motley Fool Australia owns shares of and has recommended Altium. 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 IDP Education Ltd (ASX: IEL) share price has rallied into all-time highs this month despite ongoing disruptions to its international student placement and English language testing services.

The company released its FY21 full-year results on 25 August, where it revealed that revenues slipped 10% to $528.7 million and adjusted net profit after tax dropped 36% to $45 million.

Despite a weak financial performance, the IDP share price is up 20% in the past month and up 58% year-to-date.

In an article featured on Livewire, Nathan Hughes from Perpetual Limited (ASX: PPT) and Mike Murray from Australian Ethical Investment Limited (ASX: AEF) both struggled to justify the company’s valuation.

Why experts think the IDP share price is too expensive

Murray could see why investors might want to buy IDP shares when the economy and international borders eventually reopen.

“There’s no doubt they will get very good growth as part of a reopening trade,” he said.

However, the price tag that comes along with the IDP share price was simply too expensive to ignore.

“We’ve always just struggled with valuation with this name. I think you’re probably paying about 50 times, even on recovered earnings. They certainly have shown a good degree of resilience through the downturn. I think it’s a quality business, but it’s a sell for us.”

Hughes held the same view, but pointed out that he’s been on the “wrong side of this stock, pretty much since the day it listed.”

Funnily enough, the IDP share price has boomed more than 800% since listing in November 2015.

Hughes highlighted a number of positive factors about the business, citing that it is a “tremendous growth story and obviously has a lot of desirable attributes, great market share, great balance sheet, generates a tonne of cashflow.”

Unfortunately, the hefty price tag was something that just didn’t add up.

The post Why these experts think the IDP Education (ASX:IEL) share price is fully valued 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. owns shares of and has recommended Idp Education Pty 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.

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The Regis Resources Limited (ASX: RRL) share price is out of form again on Friday.

In morning trade, the gold miner’s shares are down 5% to a 52-week low of $2.05.

Why is the Regis Resources share price under pressure?

Investors have been selling down the Regis Resources share price today after a pullback in the gold price to a one-month low.

According to CNBC, the spot gold price fell 2.3% to US$1,754.10 an ounce during overnight trade. This was driven by improvements in the US dollar and bond yields, reducing the appeal of the precious metal.

It isn’t just the Regis Resources share price falling today, though. The weakness in the gold price has led to the S&P/ASX All Ordinaries Gold index falling almost 4%.

Why are its shares at a 52-week low?

While the above explains the weakness in the Regis Resources share price today, it doesn’t necessarily explain why it is at a 52-week low.

That appears to be due to uncertainty relating to its McPhillamys Gold Project. This project is one of the largest undeveloped open pit gold projects in Australia and seen as the key driver of the company’s future growth.

However, it is still seeking approval and the progress to gaining it has been taking some time. It is largely because of this that the team at Goldman Sachs have a sell rating on its shares.

Last month the broker commented: “McPhillamys approvals and execution risk: the greenfield development project is still awaiting regulatory approval (DPIE and IPC) and a pending DFS update. We see downside risk in the project achieving regulatory approvals given a mixed recent history of mining approvals in NSW. Regardless, we expect that when-and-if the project is approved, the updated DFS will present significantly higher capex and opex estimates than the 2017 PFS. Given the slow progress of approvals, our forecast construction and commissioning timeline assumes plant commissioning late-2023.”

Though, it is worth noting that since the release of this note, the Regis Resources share price has tumbled lower. As such, it is now trading well below Goldman’s price target of $2.50. This could be a sign that value is now emerging for investors.

The post The Regis Resources (ASX:RRL) share price is down 5% to a 52-week low 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 Elixir Energy Ltd (ASX: EXR) share price is blowing off steam after the energy producer announced an operations update.

At the time of writing, Elixir shares are swapping hands for 27 cents, down 3.57%.

What’s driving the Elixir Energy share price lower?

Investors are selling off Elixir shares after the company provided an update of its operating performance over the last month.

This relates to its current exploration campaign at its wholly-owned Nomgon IX Coal Bed Methane (CBM) Production Sharing Contract (PSC). CBM is better known as coal seam gas in Australia.

The company said its Richcairn-1S exploration well, located within the Nomgon project in Mongolia, has now been completed. Up to 792 metres were drilled, and 16 metres of coal and 20 metres of highly carbonaceous mudstone (silty coal) were discovered.

The rig will move to another location, Richcairn-2S, with drilling due to start in the next day or so. In a possible boost for the Elixir Energy share price, the company noted that drilling further wells could lead to an extensive coal-bearing sub-basin for 2021 and beyond.

As the last 6 wells have all intersected their coal targets, the company will add a third rig to accelerate its 2021 drilling program.

The Nomgon Central-1 core-hole has reached a total depth of 559 metres and logged 65 metres of coal. Currently, the well is gathering data that will underpin the design of future production testing. A number of laboratory tests are expected to follow in the coming months.

Drilling at the next Nomgon sub-basin appraisal well – Nomgon 6 – will begin later this week. The results from this will be used in the technical design of the planned 2022 production testing. In addition, the results will help secure the required environmental and other approvals in Mongolia.

Lastly, Elixir’s expanded seismic program is also due to begin shortly, targeting the acquisition of another 300 kilometres.

Management commentary

Managing director Neil Young commented on the news possibly driving the Elixir Energy share price:

With Richcairn, we have now added 3 new potentially productive sub-basins to our inventory in 2021 to date.

At Nomgon we continue to gather the data required to underpin our foreshadowed two-stage production testing process. As always in the last 18 months, we commend the resilience of our Mongolian team and sub-contractors in battling through the ongoing COVID-19 pandemic.

The Elixir Energy share price has doubled in value over the past 12 months and is up roughly 120% this year.

The post Elixir Energy (ASX:EXR) share price slumps on coal update appeared first on The Motley Fool Australia.

More reading

• Elixir Energy (ASX:EXR) share price leaps 14% on rising oil prices
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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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Motley Fool Australia Chief Investment Officer Scott Phillips joined Nine’s Late News on Thursday night to discuss Wesfarmers Ltd‘s (ASX: WES) acquisition of Australian Pharmaceutical Industries Ltd (ASX: API) and Domain Holdings Australia Ltd‘s (ASX:DHG) acquisition of a property data business, plus Telstra Corporation Ltd’s (ASX: TLS) ambitious new growth plans, and Myer Holdings Ltd’s (ASX: MYR) return to second-half profitability for the first time since 2017.

The post Acquisitions for Wesfarmers and Domain, Telstra plans to grow and Myer back in profit. Scott Phillips on Nine’s Late News appeared first on The Motley Fool Australia.

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• Is the Telstra (ASX:TLS) share price in the buy zone after its T25 update?
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Motley Fool contributor Scott Phillips owns shares of Telstra Corporation 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 owns shares of and has recommended Telstra Corporation Limited and 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 Medibank Private Ltd (ASX: MPL) share price is moving higher this morning. This follows the release of the private health insurers’ annual report for 2021.

While the financial results had already been shared with investors back on 25 August 2021, today’s release comes with some added details and commentary.

At the time of writing, the Medibank Private share price is down 0.28% to $3.55 in early trade.

Let’s dive into the report.

More customers getting more back

To kick things off, the report opens with an elating one-liner, stating “We grew more in the past 12 months than we have in over 10 years.” Such a statement could have investors jumping for joy.

Although the exact metric being measured isn’t specified, we know that it’s not pertaining to the company’s net earnings after tax. In FY21, Medibank’s group net profit after tax increased 39.8% to $441.2 million. We only need to go back to FY16 to see earnings grow more than this. For reference, FY16 witnessed the bottom line climb 46% to $417.6 million.

Additionally, customer numbers across the Medibank and ahm brands have slipped since 2016 as well. According to its annual report at the time, the company served 3.8 million customers. Meanwhile, the company counts 3.7 million people as customers — a reduction of nearly 3%. This might be weighing on the Medibank Private share price this morning.

However, what has increased is the amount of money paid in claims to customers. For the recent financial year, Medibank coughed up $5.6 billion in claims, increasing 2% from the prior year. In fact, the company’s COVID financial support package for customers was the largest in its 45-year history.

To date, Medibank has provided $300 million, with $103 million in COVID permanent net claims savings being returned in premium relief. Adding to this, CEO David Koczkar said, “We stand by our commitment not to profit from COVID and will continue to return any related permanent net claims savings to our customers.”

This act of returning some of the premiums paid by customers was in recognition of the impact COVID has had on people’s ability to use their health insurance.

It appears premium return helped bolster the company’s brand among customers. In the year, Medibank customer advocacy rose 5.3 points to 37.1. Likewise, ahm gained 1.8 points to finish at 43.

Medibank share price wobbles on directors retirement

In addition to the annual report, Medibank also announced the retirement of two non-executive directors of its board.

According to the release, non-exec directors Christine O’Reilly and Peter Hodgett will retire from the board on 18 November 2021. This will be at the conclusion of the annual general meeting, of which, the directors have opted not to stand for re-election.

Commenting on the news, Medibank chair Mike Wilkins said:

I would like to take this opportunity to thank both Christine and Peter for their valuable contribution to our
company during their time as directors. They both joined the Board prior to Medibank’s listing on the
Australian Securities Exchange and helped guide the business through its transition from government-owned business to privatised company.

The search for two new directors is already underway.

The post Medibank (ASX:MPL) share price slips as customers hit 3.7 million appeared first on The Motley Fool Australia.

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• Here’s why the Medibank (ASX:MPL) share price jumped 7% in a month

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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