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The Afterpay Ltd (ASX: APT) share price is struggling lately despite no price sensitive news of the company having been released to the ASX.

However, yesterday Afterpay announced a new partnership with speciality retailer PetSmart. Additionally, Afterpay was a presenting partner at New York’s Fashion Week (NYFW), running events from 7 September to 12 September.

Despite the exciting happenings, the Afterpay share price has slid 8.63% so far this month. It is currently trading at $122.85.

Let’s take a closer look at what the buy now, pay later (BNPL) company has been up to, and what it’s planning to do next.

September so far for Afterpay

September hasn’t been a good month so far for the Afterpay share price despite several pieces of seemingly positive non-price sensitive news.

Yesterday, Afterpay announced it has partnered with pet retailer PetSmart. The partnership will see PetSmart offering its customers to pay for products and services using Afterpay.

According to Afterpay, PetSmart is the largest retailer of its kind and the first to offer Afterpay’s BNPL service.

In addition to its new partnership, Afterpay ran a series of interactive events at NYFW.  

Afterpay offered pop-up and virtual reality shopping experiences, insider talks and styling workshops, a virtual catwalk from which shoppers could purchase items, and turned the Empire State Building into its signature shade of blue-green.

Fun fact: Afterpay’s trademark colour is named Bondi Mint.

However, the glitz and glamour weren’t enough to save the Afterpay share price.

What’s next for Afterpay and its share price?

The Afterpay share price might not exist for much longer.

As market watchers will know, the company is planning to be acquired by Square Inc (NYSE: SQ) in a $39 billion takeover.

The companies expect the takeover to go ahead in the current quarter. It is still subject to shareholder approval.

Of course, following the takeover Afterpay won’t exist on the ASX anymore. However, as the takeover is expected to be a scrip deal, Square will be listing CHESS Depository Interests (CDIs) on the ASX.

Meaning, Afterpay’s shareholders who receive CDIs will still be able to trade their holdings on the ASX. Though, Afterpay shareholders will be able to elect to receive NYSE-listed Square shares instead.

Additionally, Afterpay announced some of its future plans within its results for the financial year just been.

As The Motley Fool Australia reported at the time, Afterpay believes Germany is a “priority region” for expansion. It is also looking to increase its footprint in Singapore.

The post The Afterpay (ASX:APT) share price is down 9% in September. What’s next? appeared first on The Motley Fool Australia.

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• Why Afterpay, Chorus, NAB, & Omni Bridgeway shares are dropping
• ASX 200 tech shares are dragging the market on Monday
• Afterpay (ASX:APT) shares are up 900% since the crash. These experts still think they’re worth holding

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 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 Novonix Ltd (ASX: NVX) share price is having an uncharacteristically bad week.

In afternoon trade on Thursday, the battery materials company’s shares are down almost 2% to $5.59.

This means the Novonix share price has now pulled back by almost 9% since peaking at $6.12 on Friday.

What’s going on with the Novonix share price?

The Novonix share price came off the boil this week after a leading broker called time on its incredible rally.

And what a rally it has been. When the company’s shares hit $6.12 on Friday, it meant they were up a staggering ~400% since the start of the year.

This has been driven by increasingly bullish sentiment in the battery materials sector, news of a strategic investment by US energy giant Phillips 66, and its inclusion in the ASX 300 index.

However, as positive as this all is, the team at Morgans believe it is all priced into the Novonix share price now.

What did the broker say?

According to the note, the broker has downgraded the company’s shares to a hold rating with an improved price target of $5.68. This is broadly in line with where the Novonix share price trades now.

Morgans explained: “NVX’s prospects continue to look promising however we think the share price already reflects a lot of the future success that we think the company will achieve. There is still a small premium to our updated base case valuation but we think the risk to reward is less attractive than before. We therefore reduce our rating to HOLD as we wait for more detail on the company’s progress on the Samsung quality audit and confirmation of our expectations for gross margins.”

In light of this, Morgans appears to believe investors should wait for a better entry point before buying shares.

The post The Novonix (ASX:NVX) share price appears to have come off the boil. Is it a buy? appeared first on The Motley Fool Australia.

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• Novonix (ASX:NVX) share price falls on broker downgrade
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• Which ASX 300 shares are leading the way as the top movers on Friday?
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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 Medibank Private Ltd (ASX: MPL) share price has been struggling lately.

Since reaching a 52-week high of $3.62 a share back on 7 September, the Medibank share price has fallen by more than 2% to sit at $3.55 a share so far today.

Even so, the company remains up by 16.6% year to date, and up a very healthy 38.3% over the past 12 months.

But why have Medibank shares been struggling over the past week or two?

Medibank share price struggles after ex-dividend date

Well, one anchor on the Medibank share price last week was its ex-dividend date.

In Medibank’s FY21 earnings report, which it delivered last month, the company announced a final dividend for FY21 of 6.9 cents per share, fully franked.

That payment will hit investors’ pockets on 30 September. But it left the Medibank share price on 8 September when the shares went ex-dividend.

This is the primary reason why the Medibank share price has struggled ever since.

Even so, shareholders might not be too concerned. This final dividend was a boost from FY20’s final payout of 6.3 cents per share.

Another potential reason for Medibank’s recent struggle is some private health sector news.

According to a report on news.com.au this week, private health insurers like Medibank have been offering their customers ‘COVID discounts’.

The report states that “some of the largest insurers [are handing] back funds collected in premiums that didn’t get paid in claims due to Covid restrictions”.

This includes Medibank, which the report states has “also committed to returning around $105 million in Covid-19 net claims through premium relief for Australian Medibank and ahm customers with an active hospital and/or extras policy between the 2020/21 financial year”.

Whilst this news may please Medibank’s customers, it is still unquestionably deleterious to the company’s overall finances. This may have been deterring investors in recent times.

At the current Medibank Private share price of $3.55, the company has a market capitalisation of $9.78 billion. It also has a price-to-earnings (P/E) ratio of 22.16 and a dividend yield of 3.58%

The post Why is the Medibank (ASX:MPL) share price struggling lately? 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
• How does the Medibank (ASX:MPL) earnings result compare to NIB?

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 Whitehaven Coal Ltd (ASX: WHC) share price has stepped into the green on Thursday.

At one stage Whitehaven shares were as high as $3.18. They have since partially retreated and at the time of writing are swapping hands for $3.11 apiece. That’s a rise of 2.98% on the day.

Whitehaven shares are on the move after the company gained regulatory approval for a controversial coal expansion project that’s been on the slab since July.

There’s a lot of moving parts here – but don’t worry, we’ve done the analysis for you.

What was announced today?

Whitehaven Coal advised that controversial plans to extend open-cut operations at its Vickery metallurgical coal project in New South Wales have now been approved.

The company announced that Federal Minister for the Environment, Susan Ley, had awarded environmental consent for the coal giant to proceed with its $600 million extension plans.

The extension project was approved under the Commonwealth’s Environment Protection and Biodiversity Conservation Act 1999, as per the release.

Back in July, a Federal Court ordered the government to assess the potential harm young people could face from additional carbonisation as a result of the expansion, before approving Whitehaven’s plans.

However, Ley’s ruling will ensure annual coal extraction will more than double to around 10 million tonnes at the Vickery project.

Whitehaven “welcomed” the decision, which it stated was the “culmination of an exhaustive process” that took more than 5 years.

This included a “period of public exhibition” from the NSW government. During this, 62% of the public submissions called for the project’s approval due to the “substantial local economic benefits” on offer.

Whitehaven sees a “continuing role” for the high-quality coal that Vickery can produce. This is against a background of “record high coal prices and strong demand in seaborne markets”.

“Major employment-generating investments will be essential” as Australia navigates its way out of the COVID-19 pandemic, Whitehaven concluded.

Investors appear to agree with this sentiment and have pushed the Whitehaven Coal share price 3% higher following the release.

Whitehaven Coal share price snapshot

The Whitehaven Coal share price has gained steam over the last few months.

It has posted a year-to-date return of 87%. It is also up 238% over the past 12 months. That’s well ahead of the S&P/ASX 200 index (ASX: XJO)’s gain of around 25% over the same time.

The post Here’s why the Whitehaven Coal (ASX:WHC) share price is rising today appeared first on The Motley Fool Australia.

More reading

• Here are 2 ASX mining shares up 25% in the past month
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• Whitehaven Coal (ASX:WHC) share price hits 52-week highs. Here’s why
• ASX 200 energy shares in firing line of United Nations’ climate action

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 Coles Group Ltd (ASX: COL) share price is pushing higher on Thursday afternoon.

At the time of writing, the supermarket giant’s shares are up almost 1% to $17.15.

This means Coles’ shares have now reduced their year to date decline to approximately 7%.

Is the Coles share price good value?

While the weakness in the Coles share price this year is disappointing for shareholders, it could be a buying opportunity for non-shareholders.

According to a recent note out of Morgans, its analysts have an add rating and $19.80 price target on the company’s shares.

Based on the current Coles share price, this suggests there is 15% upside over the next 12 months before dividends.

And if we include dividends, the potential return gets even more attractive. Morgans is forecasting a fully franked 61 cents per share dividend in FY 2022. Including this, the company’s shares could provide a total return of 19% between now and this time next year.

What did the broker say?

Morgans was pleased with the company’s performance in FY 2021 and also with its solid start to the new financial year. This led the broker to upgrading its forecasts for FY 2022 and its price target on the Coles share price accordingly.

In addition to this, its analysts like Coles due to its defensive qualities, strong market position, and robust balance sheet.

The broker commented: “Following the better-than-expected FY21 result, we increase FY22F EBIT by 2% to A$1,852m while underlying NPAT rises by 4% to A$996m. COL is a defensive business with strong market positions and a healthy balance sheet. Trading on 24.6x FY22F PE and 3.3% yield we continue to see the stock as offering good value and maintain our Add rating.”

The post Why this broker sees the Coles (ASX:COL) share price rising 15% 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 owns shares of and has recommended COLESGROUP DEF SET. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Shares in Healthia Ltd (ASX: HLA) are surging today after the health-based company announced a new acquisition.

At the time of writing, the Healthia share price is travelling north of 10% to $1.98 apiece.

Healthia expands business portfolio

Investors are fighting to get a hold of Healthia shares following the company’s latest addition to its growing portfolio.

According to the release, Healthia advised it has entered into a binding agreement to acquire Rothwell Physiotherapy.

A family-owned and operated clinic, Rothwell Physiotherapy is located on the north side of Brisbane. The facility, which services the wider Moreton Bay region, provides physiotherapy and exercise physiology for patients.

The upfront consideration for Rothwell Physiotherapy will be a cash payment of $1.3 million. In addition, a contingent consideration of $0.32 million will be available if pre-defined earnings targets are achieved.

The settlement of Rothwell Physiotherapy is conditional upon the transfer of property leases to Healthia and the approval of usual customary conditions.

It’s expected that all conditions will be met and the acquisition completed on or before 30 November 2021.

Management commentary

Healthia managing director Wesley Coote said:

We are very much looking forward to welcoming the team at Rothwell Physiotherapy into the Healthia family. The addition of Rothwell Physiotherapy is in line with Healthia’s stated growth strategy, and brings us one step closer to being the number one provider of physiotherapy services in Australia.

We have a strong acquisition pipeline in place for this financial year, underpinned by industry participants placing greater value on the support and stability that a larger group such as Healthia, can provide.

The company has projected the acquisition would contribute additional revenue of $2.13 million to Healthia. Furthermore, it estimates earnings before interest, tax, depreciation and amortisation (EBITDA) to come in around $0.36 million.

Healthia share price summary

Since listing on the ASX in September 2018, Healthia has grown its portfolio from 104 to 217 allied health businesses. Recent acquisitions include AllCare Physiotherapy, John Holme Optometry and Anytime Physio.

The company’s shares are up 50% in 2021, and have more than doubled over the past 12 months.

The post Why the Healthia (ASX:HLA) share price is rocketing 10% today appeared first on The Motley Fool Australia.

More reading

• Why the Austal (ASX:ASB) share price is lifting today
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• ASX uranium shares boom to multi-year highs, bull market is just getting started: analyst

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 recommended HEALTHIA 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 Wesfarmers Ltd (ASX: WES) share price is in the green on Thursday and currently changing hands at $56.80, up 0.26%.

This follows news that the conglomerate has sweetened its offer to acquire Australian Pharmaceutical Industries Ltd (ASX: API) today.

There’s a bit of history here, so let’s investigate further.

What went down today?

Wesfarmers revised its indicative proposal to acquire Australian Pharmaceuticals after the healthcare company rejected the original $1.38 per share proposal back in July.

Wesfarmers wants to buy 100% of the company’s outstanding shares and is offering $1.55 per share under a revised scheme arrangement.

This represents a 22% premium to the pharmaceutical company’s closing price on Wednesday. It’s also a 35% premium to its share price on 9 July when the original offer was made.

The Australian Pharmaceuticals board intends to unanimously recommend the revised proposal, which is still subject to due diligence by Wesfarmers.

The board will back the deal if no superior offers are made in the foreseeable future. The board will also seek the opinion of an independent expert, according to the release.

If everything comes back clear, it will be all systems go to get the deal done, it appears.

What’s next for the Wesfarmers share price?

The deal is still subject to a number of conditions, including satisfactory completion of due diligence.

They also need clearance from the Australian Competition and Consumer Commission (ACCC) and full backing from the API board.

Wesfarmers shareholders don’t have to do anything right now. However, the next moves will no doubt have some impact on the Wesfarmers share price.

The company has until 16 October to complete its due diligence. After that, both parties will enter into a binding offer if everything is satisfactory.

That’s a key date for shareholders of both companies to keep pencilled in.

Wesfarmers share price snapshot

The Wesfarmers share price has had a choppy year to date but has gained 9.9% since January 1.

Wesfarmers shares are up by about 25% over the past 12 months. This is in line with the return of the S&P/ASX 200 index (ASX: XJO) over the same time.

The post Wesfarmers (ASX:WES) share price edges higher on sweetened API bid appeared first on The Motley Fool Australia.

More reading

• ASX 200 (ASX:XJO) midday update: Telstra unveils T25 strategy, Wesfarmers’ API offer
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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 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 Austal Limited (ASX: ASB) share price is finding its feet on Thursday. This follows the appointment of a new president of the company’s United States operations.

In morning trade, shares in the defence vessel constructor are lurching higher. Currently, the Austal share price is fetching $1.76, up 4.45%. However, this is still a far cry from its position only a month ago. The company’s value has been stuck in a downtrend, resulting in a near 30% erosion over the past 4 weeks.

Let’s take a look at the latest appointment, as well as some developments in the Australian military space.

Fresh-ish eyes at the helm

They say change can be as good as a holiday. Austal shareholders are likely hoping this holds true with the most recent change in the company’s ranks.

According to its announcement, Austal’s board of directors have appointed Rusty Murgaugh as president of Austal USA. This decision was effective as of 9 September 2021, putting Murgaugh at the helm for a week already.

The newly appointed president began his time at Austal in 2017 as chief financial officer. While the announcement marks a ‘newly’ appointed president, Murgaugh has been serving as interim president since February 2021. During this time, the now President led an operational expansion, adding steel shipbuilding to the company’s manufacturing capability.

Commenting on the appointment, Austal CEO Paddy Gregg said:

Rusty has overseen a number of significant, positive developments at Austal USA in a short period of time, including the start of construction of new infrastructure to enable steel shipbuilding; and new contracts that position the company exceptionally well for further growth. I congratulate him on his appointment and look forward to working with him to achieve further success in the US and international markets.

New defence developments

In other defence-related news, reports from ABC News state that Australia has announced plans to acquire a nuclear submarine fleet. Although there is no direct connection between Austal and this announcement, investors might be speculating over the potential ripple effects to defence shares. However, there is nothing set in stone to give surety for influencing the Austal share price.

The move by Australia is part of its newly formed security partnership, known as AUKUS. As you might have guessed from the acronym, this involves Australia, the United Kingdom, and the United States.

Speaking at the announcement, Australian Prime Minister Scott Morrison stated:

Over the next 18 months, we will work together to seek to determine the best way forward to achieve this. This will include an intense examination of what we need to do to exercise our nuclear stewardship responsibilities here in Australia.

Austal share price snapshot

It has been a slobber-knocker of a year for the Austal share price. Over the past 12 months, the company’s shares have lost roughly 46% of their value. Meanwhile, the S&P/ASX 200 Index (ASX: XJO) has conjured up a 25.4% gain.

As a result, Austal currently trades on a price-to-earnings (P/E) ratio of 7.72 times.

The post Why the Austal (ASX:ASB) share price is lifting today appeared first on The Motley Fool Australia.

More reading

• Dividends galore! 10 ASX shares trading ex-dividend on Wednesday
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• Austal (ASX:ASB) share price sinks 13% on weak FY21 result

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. owns shares of and has recommended Austal Limited. 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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ASX 200 giants are holding ground on Thursday despite the falling iron ore price.

The price of iron ore has slipped to trade at US$124.16 per tonne today.

That represents a slump of more than 23% since this time last month. It also marks a significant decline from the 52-week high of US$233 per tonne, which it hit in May.

Interestingly, as the price of iron ore falls, the share prices of ASX 200 resources giants Rio Tinto Limited (ASX: RIO) and BHP Group Ltd (ASX: BHP) are in the green. Fortescue Metals Group Ltd (ASX: FMG) has slipped slightly in early afternoon trading.

Let’s take a look at what might be causing iron ore price to struggle.

Why is the iron ore price lower today?

The iron ore price struggled overnight as news from China seemingly dampened demand for the commodity.

According to Reuters, China released a report stating its steel output reached its lowest point since March 2020 last month.

China produced 83.24 million tonnes of steel in August, 4% less than it produced in July and 12% less than it did in the previous comparable period.

As China is the world’s largest steel producer, it imports a huge proportion of the globe’s iron ore.

In fact, according to the Minerals Council of Australia, around 80% of the iron ore exported from Australia goes to China.

China’s lower steel production will likely impact demand for iron ore and it has seemingly already debased confidence in the commodity.

However, China’s news hasn’t stifled the share prices of ASX 200 iron ore producers.

How are ASX 200 resource giants performing?

The BHP share price is tracking well today. The price of iron ore hasn’t notably affected its share price, which has gained 1.9% this morning. Investors can get their hands on a piece of BHP for $41.02.

The Rio Tinto share price has recovered from a poor start to this morning’s trade. Its currently 0.57% higher than its previous close, trading for $105.24.

After rebounding this morning, the Fortescue Metals share price has since slipped and is currently trading at $17.72, down 0.56%.

The post ASX 200 resources giants lift despite plummeting iron ore price appeared first on The Motley Fool Australia.

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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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The Lotus Resources Ltd (ASX: LOT) share price is advancing today following a positive update at the Milenje Hills Rare Earth Prospect.

During morning trade, the mineral exploration company’s shares broke into uncharted territory, touching the 35-cent mark. However, investors decided to quickly take profit off the table, leading its shares lower.

At the time of writing, the Lotus share price is up 1.59% to 32 cents apiece.

What did Lotus announce?

In a statement to the ASX, Lotus advised it has commenced exploration activities at the Milenje Hills Rare Earth Prospect in Malawi.

The new work program follows the significant discovery of high-grade rare earth oxide (REO) material in February. Lotus noted that from the 22 mineralised samples collected, REOs came up to 16%, with critical REOs up to 3.4%.

The 2021 program will see a number of works undertaken to determine the best path forward for Lotus. These include:

• Extension of the geophysical dataset to include additional survey lines over the large anomaly identified in initial work;
• Mapping in the broader area to define new mineralised zones;
• Additional trenching with an excavator in new zones as well as deepening some of the previous trenches;
• Reverse circulation (RC) drilling of up to 2,000 metres to follow up on selected anomalies and mineralised zones;
• Mineralogical test work and sizing (expected to commence in Q4 FY21); and
• Initial physical beneficiation tests (expected to commence in Q4 FY21).

Lotus managing director Keith Bowes commented on the news possibly driving the Lotus share price:

Whilst the company remains firmly focused on the development and recommencement of production at the Kayelekera Uranium Mine, we believe the Milenje Hills Prospect has the potential to add real value to the company for minimal expenditure.

Clearly, the initial results encountered at Milenje Hills were extremely encouraging, given both the grade and assemblage of rare earth minerals. The current work program will provide us with an enhanced understanding of the overall potential of Milenje Hills, prior to determining the optimal path forward to realise value for shareholders.

About the Lotus share price

Up until late August, Lotus shares were treading mostly sideways over the 12-month period.

However, in the past week, the Lotus share price has accelerated by around 50%. This has led its shares to record a year-to-date gain of 150% for investors.

The post Lotus Resources (ASX:LOT) share price jumps on rare earths update appeared first on The Motley Fool Australia.

More reading

• The Lotus Resources (ASX:LOT) share price is up 35% in a week
• Why the Lotus Resources (ASX:LOT) share price is jumping 18% on Monday

The author Aaron Teboneras 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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