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The S&P/ASX 200 Index (ASX: XJO) has had a rough day in trading so far. At the time of writing, the ASX 200 is down by 0.12% to 7,416 points. However, the Commonwealth Bank of Australia (ASX: CBA) share price is performing even worse.

CBA shares are currently down 0.68% to $100.61 a share. While that figure is clearly trailing the ASX 200 today, it’s also trailing that of CBA’s big four banking peers.

While all the four major ASX banking shares are currently in the red, CBA is coming in dead last.

The best performer so far today is the Australia and New Zealand Banking Group Ltd (ASX: ANZ) share price, which is down by 0.22% at $27.56 a share.

Westpac Banking Corp (ASX: WBC) shares are currently trading for $25.56 each, down 0.29%, while National Australia Bank Ltd (ASX: NAB) shares are down by 0.46% to $28.05 a share.

That leaves CBA as the worst-performing ASX major bank today so far.

So why is CBA being singled out by investors this Tuesday?

Housing, valuation concerns for the CBA share price?

Well, it’s not entirely clear.

There are a few possible explanations though. For one, there have been some recent concerns that the CBA share price might have gotten a little ahead of itself in regards to valuation. Just last week, we covered how an expert investor thinks CBA “no longer deserves its premium” and “the glory days for the CBA share price might soon be over”.

Another recent concern has been the exploding housing market. While many homeowners have no problem watching their castle rise in value, affordability concerns have been rising.

According to a report from news.com.au today, new economic modelling suggests that 2 in 5 households in New South Wales are currently under “mortgage stress”. This means they are spending more on their cost of living than what they are earning.

The report also states “homeowners in much of Sydney cannot afford their mortgages and would be in financial trouble if there was a rapid rise in interest rates”.

CBA is one of, if not the, largest mortgage writers in the country. As such, it makes sense that investors might get nervous over these kinds of figures.

At the current CBA share price, this ASX bank has a market capitalisation of $179.7 billion, a price-to-earnings (P/E) ratio of 21.5 and a dividend yield of 3.46%.

The post The CBA (ASX:CBA) share price is underperforming its big four peers today appeared first on The Motley Fool Australia.

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• This analyst sees 25% upside for the ANZ (ASX:ANZ) share price
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• 5 things to watch on the ASX 200 on Tuesday

Motley Fool contributor Sebastian Bowen owns shares of National Australia Bank 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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The Metal Hawk Ltd (ASX: MHK) share price has soared into the green on Tuesday after the company announced a “massive” nickel discovery at its Berehaven Nickel project.

Metal Hawk shares are now exchanging hands at 66 cents apiece, a 256% jump from the open.

The company’s shares have since been placed under a trading pause, pending a further announcement.

Let’s investigate further.

A quick rundown on Metal Hawk

Metal Hawk is in the business of minerals exploration. Its main expertise is centred on the exploration and discovery of early-stage gold and nickel sulphides.

It has projects in Australia, most notably the Eastern Goldfields and the Berehaven Nickel project, both in Western Australia.

At the time of writing, Metal Hawk has a market capitalisation of $8.7 million.

What’s fuelling the Metal Hawk share price?

In a positive for the Metal Hawk share price, the company announced that its maiden reverse circulation (RC) drilling program at Berehaven had intersected “significant massive mineralisation” at the site.

The company said analysis of the drill chips had confirmed a high-grade tenor typical of Kambalda-style komatiite-hosted nickel deposits.

Metal Hawk also pointed out there had been no drilling carried out at the site prior to its own program, and that this is also a plus for the company.

As a result of the RC drilling program, follow-up diamond drilling will now take place alongside “downhole electromagnetic” studies on the drill holes.

Assay results from additional holes are expected in the next 3–4 weeks, as per the announcement.

Investors have welcomed the news on Tuesday, especially given the current price of nickel, which has climbed more than 30% from March this year.

What did management say?

Speaking on the results driving the Metal Hawk share price, managing director Will Belbin said:

This is a fantastic result from Metal Hawk’s first RC drilling program that has confirmed our belief in the potential for massive nickel sulphide discoveries to be made on this exciting and underexplored project. We look forward to ramping up our nickel sulphide exploration at Berehaven and plans for diamond drilling are well underway.

Metal Hawk share price snapshot

The Metal Hawk share price was trading flat across this year to date prior to this morning’s announcement.

Nonetheless, Metal Hawk shares have now climbed 164% since the company listed on the ASX in November last year.

This is well ahead of the S&P/ASX 200 Index (ASX: XJO)’s return of around 13% over the same period.

The post Metal Hawk (ASX:MHK) share price explodes 256% on huge nickel discovery appeared first on The Motley Fool Australia.

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• ASX 200 (ASX:XJO) midday update: Westpac asset sale blocked, Zip crypto update
• Is the CSL (ASX:CSL) share price too expensive right now?
• Firefinch (ASX:FFX) share price slides following tweet clarification

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 Santos Ltd (ASX: STO) share price is rallying on Tuesday after Organisation of the Petroleum Exporting Countries (OPEC) said that oil demand will exceed pre-pandemic levels in 2022.

At the time of writing, the Santos share price is up 5.02% to a 1-month high of $6.48.

Santos share price rallies on bullish oil forecast

In its monthly oil report, OPEC trimmed its oil demand for the last quarter of 2021 but sees demand exceeding pre-pandemic levels in 2022.

OPEC was bullish on the outlook for oil, forecasting:

In 2022, oil demand is expected to robustly grow by around 4.2 mb/d, some 0.9 mb/d higher compared to last month’s assessment. Revisions were driven by both the OECD and non-OECD, as the recovery in various fuels is expected to be stronger than anticipated and further supported by a steady economic outlook in all regions. Oil demand in 2022 is now projected to reach 100.8 mb/d, exceeding prepandemic levels.

This positive commentary and forecast were underpinned by the Organisation’s positive assessment of the global economy.

Although the global economy continues to be affected by developments related to COVID-19, 1H21 saw a healthy economic recovery. Following the strong quarterly economic growth in 3Q21, growth is forecast to slightly decelerate towards the end of the year. It should be noted that the recovery this year has been widely supported by unprecedented government-led stimulus, and global efforts done to contain COVID-19, particularly in Western economies and China.

However, OPEC put the brakes on near-term demand as a result of the Delta variant.

Oil demand in 3Q21 has proved to be resilient, supported by rising mobility and travelling activities, particularly in the OECD. At the same time, the increased risk of COVID-19 cases primarily fueled by the Delta variant is clouding oil demand prospects going into the final quarter of the year, resulting in downward adjustments to 4Q21 estimates.

As a result, crude oil prices rallied 2.63% higher overnight to ~US$70.35/barrel.

Santos share price snapshot

The Santos share price is up just 2% year-to-date despite oil prices rallying 45% in 2021.

The post Santos (ASX:STO) share price rallies 5% on bullish OPEC oil outlook appeared first on The Motley Fool Australia.

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• ASX 200 energy and materials shares are leading the market on Monday
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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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The ResApp Health Ltd (ASX: RAP) share price is on the move again today following yesterday’s meteoric rise. The digital health company provided another positive release to the ASX today.

At the time of writing, ResApp shares are fetching for 9.3 cents apiece, up 4.49%. It’s worth noting that during early morning trade, its shares reached an intraday high of 10.2 cents.

ResApp secures rebate on COVID-19 study

Investors are pushing ResApp shares higher after the company secured a cashback for its COVID-19 research program.

According to the release, ResApp advised it has received approval from AusIndustry for its application for an Advanced and Overseas Finding. In particular, this is in relation to the expenditure associated with its COVID-19 clinical studies.

The finding covers the financial years between 2021 to 2023, meaning that ResApp will be eligible for a cash rebate. This refers to the company’s COVID-19 overseas research and development expenditure, thus receiving a 43.5% cashback from the Australian government.

As such, ResApp estimates that it will collect a rebate of around $820,000 for the financial year that ended 30 June 2021.

In the United States, the company is currently recruiting participants for its upcoming pilot study. The aim is to collect data to train an algorithm in identifying COVID-19 through cough sounds recorded on a smartphone.

The same participants will also be used in a second study to collect further cough sounds and data on disease progression. ResApp hopes to develop algorithms to remotely monitor patients with COVID-19.

ResApp CEO and managing director, Dr Tony Keating commented:

Our COVID-19 research program is looking at developing algorithms for screening for COVID-19 as well as helping healthcare systems better manage patients with COVID-19, including those with long COVID. This finding, recognising the need to collect COVID-19 cough samples internationally, provides us with a high degree of certainty in planning our programs.

We are very grateful to the Federal Government for their commitment to supporting research and development by Australian companies.

ResApp share price summary

Until recently, ResApp shares were trading at multi-year lows, before shooting up in September. The past month alone has netted investors a return of more than 115%, however year-to-date, is up marginally at 14%.

ResApp commands a market capitalisation of about $83.3 million and has 859 million shares on its books.

The post ResApp (ASX:RAP) share price adds 4% on COVID-19 study rebate 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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At lunch on Tuesday, the S&P/ASX 200 Index (ASX: XJO) is trading marginally lower. The benchmark index is down slightly to 7,419.5 points.

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

Westpac asset sale blocked

The Westpac Banking Corp (ASX: WBC) share price is trading broadly flat today after revealing that its plan to divest its Pacific businesses has been dealt a blow. According to the release, the Papua New Guinea’s Independent Consumer and Competition Commission has blocked the sale of its stake in Westpac Bank PNG to Kina Securities Limited (ASX: KSL). Westpac had signed a deal with Kina for both its PNG and Fiji businesses worth $420 million.

Brambles shares sink

The Brambles Limited (ASX: BXB) share price is sinking notably lower today following an update at its investor day. The market appears disappointed with management’s guidance for underlying profit growth of ~1% to ~2% in FY 2022. This is due to management flagging FY 2022 as an investment year for the supply chain solutions company. Citi remains positive and has put a buy rating and $13.58 price target on its shares.

Zip Retail Investor Day

The Zip Co Ltd (ASX: Z1P) share price is trading lower following the release of its Retail Investor Day presentation. That presentation revealed the buy now pay later provider’s plans for savings accounts, rewards, and cryptocurrencies. In respect to the latter, the company plans to let users buy, sell, hold, and even pay in cryptocurrencies. Investors may be disappointed that no trading update was provided with the release.

Best and worst ASX 200 performers

The best performer on the ASX 200 on Tuesday has been the Beach Energy Ltd (ASX: BPT) share price with a 7% gain. This follows a solid rise in oil prices overnight. The worst performer has been the Brambles share price with a 10% decline following its investor day update.

The post ASX 200 (ASX:XJO) midday update: Westpac asset sale blocked, Zip crypto update appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro owns shares of Westpac Banking Corporation. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended ZIPCOLTD FPO. 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 CSL Limited (ASX: CSL) share price has had a rather interesting few years. It was only back in 2019 that CSL shares were at their peak ‘growth reputation’. This was a blue chip ASX 200 company that seemed to give investors double-digit price rises year after year. Over the 3 years to February 2021, CSL shares delivered capital growth of approximately 185%.

Perhaps this is why CSL CEO Paul Perreault is now one of the highest-paid ASX CEOs, at least according to a recent article in the Australian Financial Review (AFR).

But the past year and a half has been a different story for CSL. And one shareholders would be pretty unfamiliar with. CSL has seemingly stopped growing.

Yes, the CSL share price has more or less gone nowhere since early 2020. On 17 January 2020, CSL shares were going for almost exactly the price they are going for at the time of writing – $300.40 a share.

The company also remains well below its all-time high of roughly $340 a share that we saw back in February 2020. It’s even got quite a bit of headroom with its current 52-week high of $320.42 a share on the current pricing.

So perhaps CSL shares are still too expensive. That might explain why the CSL share price has been stuck in the mud for months now.

Is the CSL share price too expensive?

Well, as my Fool colleague James covered earlier this month, one broker who doesn’t think CSL shares are too expensive is Morgans. Morgans put out an ‘add’ rating on CSL a week or two ago with a 12-month share price target of $324.40 a share. That implies a potential upside of close to 8% over the next year or so.

Morgans remains bullish on CSL due to its recent FY21 earnings report, with the broker impressed by “its full year sales and profits [that] were stronger than expected despite facing tough trading conditions”.

However, it does note that the more cyclical forces CSL faces, such as plasma collections and costs, may weigh on the company over the next few years.

At the current CSL share price, this healthcare giant has a market capitalisation of $136.77 billion, a price-to-earnings (P/E) ratio of 42.47 and a dividend yield of 0.98%.

The post Is the CSL (ASX:CSL) share price too expensive right now? appeared first on The Motley Fool Australia.

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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 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 Firefinch Ltd (AXX: FFX) share price is falling this morning after the company released a potentially disappointing clarification.

Firefinch excited the market yesterday when the company announced details surrounding its inclusion in the VanEck Junior Gold Miners ETF (NYSE: GDXJ) on Twitter (NYSE: TWTR).

However, the gold miner and lithium developer has clarified that it didn’t authorise the tweet and investors shouldn’t rely on the information it contained.

Right now, the Firefinch share price is 67 cents, 1.47% lower than its previous close.

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

Firefinch share price slides following clarification of tweet

The Firefinch share price is in the red today following the company’s clarification of a since-deleted tweet.

Firefinch claims a contractor tweeted the GDXJ ETF will be spending a certain amount to buy Firefinch stock this week. The company also stated it didn’t approve the tweet.

According to reporting by Proactive Investors, which was shared by Firefinch’s LinkedIn account yesterday, the company was recently added to the ETF. However, the report said the fund is yet to purchase the shares needed to reach its allocated holding.

The Firefinch contractor is said to have put two and two together. They posted to Twitter the amount the ETF might spend to receive its allocated hold in Firefinch.

The Firefinch share price gained 9% amid the tweet’s publication yesterday.

Interestingly, while Firefinch has deleted the contentious tweet, a post on the company’s LinkedIn page still reads: “[T]he GDXJ EFT will have to purchase [$30 million] worth of [Firefinch] stock [by Friday’s close]”.

Further, the company’s clarification didn’t deny the validity of the information within the tweet. Instead, it warned investors not to rely on the information.

However, the company’s addition to the GDXJ ETF might not have caused all its gains yesterday. Firefinch also released its half-year results on Monday. The results may also have been responsible for a decent portion of the Firefinch share price increase.

The post Firefinch (ASX:FFX) share price slides following tweet clarification 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. owns shares of and has recommended Twitter. 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 Pointerra Ltd (ASX: 3DP) share price is rocketing in morning trade, up 21% to 44 cents per share.

Earlier today the 3D geospatial data technology company released its corporate presentation. We look at a few highlights below.

What did Pointerra present?

Investors may be bidding up the Pointerra share price after the company reported annual contract value (ACV) growth of 240%. ACV increased from $2.9 million from July 2020 to $9.8 million reported as at July 2021.

Meanwhile cash receipts from its customers reached $4.1 million for the full 2021 financial year (FY21), up from $1.8 million in FY20. The company reported cash receipts of $1.4 million in Q4 FY21 alone.

Pointerra also expanded its full-time employees from 12 to 29.

The company credited ACV growth to “customer-led engagement, focused on solving workflow problems and ‘automating the manual’”. It said its existing customers continued to increase their spending, with very low churn rate.

The United States utility sector counts among its leading customers. Pointerra is directly contracting with utilities as well as with their mapping providers. The company said:

Pointerra has combined advanced machine learning algorithms for automatically extracting valuable information from 3D data with extensive browser-based manual feature identification/editing tools.

Mining companies also are turning to Pointerra’s technology platform.

The Pointerra share price may also be getting a boost as the company reported it is collaborating with the US Department of Defense. It said it is “responding to the requirement to constantly enhance the capability of the modern war fighter through the use of technology”.

Pointerra reported the solution to modern defence needs is, “Automated analytics that fuses newly acquired and historic 3D spatial data and delivers insight in real-time to support informed decision making.”

Pointerra share price snapshot

The Pointerra share price has been under pressure in 2021, down 15% year-to-date. By comparison the All Ordinaries Index (ASX: XAO) is up 11% in that same time.

Over the past month Pointerra shares have gained 7%.

The post Pointerra (ASX:3DP) share price leaps 21% as cash receipts surge 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 Pointerra Limited. The Motley Fool Australia has recommended Pointerra 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 Fortescue Metals Group Limited (ASX: FMG) share price is struggling to push higher this week as new steel production curbs in China continues to cripple iron ore prices.

At the time of writing, shares in the iron ore major are down 1.85% to $18.07.

Fortescue share price threatens 10-month lows

Iron ore prices tanked another 4.5% on Monday to US$123.84/t due to weak buying interest, according to Fastmarkets MB.

China’s iron ore demand is expected to weaken in the second half of the year after policymakers vowed to limit crude steel output to curb industrial pollution.

On Monday, Reuters reported further output curbs on various commodities including aluminium, steel and cement.

“As of August, Yunnan aluminium smelters had already shut down nearly 1 million tonnes of annual capacity due to power curbs, state-backed research house Antaike said earlier this month. “

The Yunnan province, which is home to around 2.3% of China’s total crude steel output was also asked to curtail production.

“The local government asked Yunnan steel mills to adjust production schedules while ensuring that its 2021 crude steel output falls, according to the document.”

“Part of the planned September crude steel production would be postponed to the last two months of the year,” it added.

More broadly speaking, Reuters said that “Beijing has warned two-thirds of China’s provinces and territories for missing their [energy] intensity targets in the first half of the year.”

What does this mean for Fortescue?

According to Fortescue’s annual report, the Platts 62% iron ore price averaged US$154/dry metric tonne (dmt) in FY21.

Fortescue’s lower grade iron ore managed to achieve a realised price of US$135/dmt, increasing by 72% over the prior year.

With current spot prices well below Platt’s FY21 average, this could spell a cloudy outlook for Fortescue.

Fortescue share price tumbles in 2021

The Fortescue share price has cratered amidst the sharp decline in iron ore prices, down 27% year-to-date.

The post Fortescue (ASX:FMG) share price struggles amid new production curbs in China 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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The Telstra Corporation Ltd (ASX: TLS) share price certainly has been on form this year.

The telco giant’s shares have risen an impressive 31% year to date to $3.95.

Where next for the Telstra share price?

The good news is that one leading broker is tipping the Telstra share price to keep rising.

According to a note out of Goldman Sachs, its analysts have retained their buy rating and lifted their price target on the telco giant’s shares to $4.40.

Based on the current Telstra share price, this implies potential upside of 11% over the next 12 months before dividends.

And if you throw in the 16 cents per share fully franked dividend Goldman expects in FY 2022, the potential return increases to over 15%.

What did the broker say?

Goldman Sachs remains positive on the Telstra share price due to its belief that its key mobile business and cost reductions will underpin solid growth in the coming years.

The broker expects this to lead to earnings per share of 15 cents in FY 2022, 18 cents in FY 2023, and then 20 cents in FY 2024. The latter is expected to allow the company to lift its dividend for the first time in over a decade.

Goldman is forecasting dividends of 16 cents per share through to FY 2023 before an increase to 18 cents per share in FY 2024. Based on the current Telstra share price, this will mean yields of 4% and then 4.6%.

Anything else?

The broker also highlights that Telstra will be holding its Strategy for the Future Investor Day event this week. This strategy is expected to provide investors with an idea of its plans beyond its highly successful T22 strategy.

It commented: “Ahead of the much anticipated ‘Strategy for the Future’ investor day on Sept 16, we outline our expectations. Strategically we expect a continuation of the current strategy (simplicity and customer focus, network leadership and improved efficiency) but with a tilt towards growth (such as Energy, Health, FWA, Enterprise 5G).”

Goldman also expects updates on earnings targets, dividend plans, InfraCo, and CEO succession planning. The broker notes that “CEO Andrew Penn in his 7th year as CEO of Telstra, we believe commentary around the company’s leadership post T22 could be provided.”

A good update this week could potentially be a catalyst for driving its shares higher. So investors may want to watch that event closely.

The post Why this broker sees 11% upside in the Telstra (ASX:TLS) share price appeared first on The Motley Fool Australia.

More reading

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• What to watch at the Telstra (ASX:TLS) Strategy for the Future event this week
• 5 things to watch on the ASX 200 on Monday
• Leading broker says Telstra (ASX:TLS) share price is a buy
• How have ASX telecommunication shares performed during the August 2021 earnings season?

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 Telstra Corporation 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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