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The Novonix Ltd (ASX: NVX) share price has run out of steam on Monday.

In afternoon trade, the battery materials company’s shares are down 1% to $5.84.

This looks set to end an incredible run which saw the Novonix share price rise 21% over five trading sessions last week.

Why is the Novonix share price sliding today?

There are likely to be a couple of catalysts for the weakness in the Novonix share price on Monday.

The first is profit taking after the strong gain it made last week. That gain was driven by increasingly positive sentiment in the battery materials sector and news that the company’s shares will be added to the ASX 300 index at the next rebalance.

What else is weighing on its shares?

Perhaps the biggest weight on the Novonix share price has been a broker note out of Morgans.

On Friday, the broker called time on its rally and downgraded the company’s shares to a hold rating with a $5.68 price target.

Morgans notes that the company’s shares have risen significantly, not just last week, but also in the weeks prior. It feels this has left its shares fully valued and sees limited upside potential in the near term.

The broker commented: “NVX has rallied 83% over the past month following the announcement of the strategic share placement to Philpps66 in early August. The company has also recently been included in the ASX300 which it has outperformed by 86% over the same time period.”

“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,” it added.

The post Novonix (ASX:NVX) share price falls on broker downgrade 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 AMA Group Ltd (ASX: AMA) share price is gaining in intraday trade, up 3.57% after earlier posting gains of more than 7%.

This comes after AMA Group emerged from a trading halt this morning. Trading was paused last Monday, 6 September, pending today’s price sensitive announcement.

We take a look at that below.

What did AMA announce?

The AMA Group share price is on the rise after the automotive parts and smash repair company reported it’s completed the institutional component of its fully underwritten accelerated 1 for 2.80 pro rata non-renounceable entitlement offer.

The Institutional Entitlement Offer, announced on Friday, raised $53 million at an offer price of 37.5 cents per share. That’s a 13% discount to the current AMA Group share price of 43 cents. Those 142 million shares are expected to be issued and commence trading on 21 September.

The underwritten retail entitlement offer is expected to raise $47 million. The offer opens this Friday, 17 September and closes on 30 September.

To participate, investors will need to hold shares by the end of the day tomorrow, 14 September. They’ll be entitled to 1 new share for every 2.8 shares they hold priced at the same 37.5 cents per share.

Topping off the new inflows of capital, the company said it had also successfully priced $50 million of notes. Unless the notes are converted, repurchased or redeemed, they mature on 22 March 2027 at a coupon of 4.0% per year. The notes are convertible to shares at an initial conversion price of 46.88 cents per share.

Commenting on the capital raising, AMA Group CEO Carl Bizon said:

Throughout the Institutional Entitlement Offer and Convertible Notes Offer processes, we were very pleased by the level of support by investors, both for the capital raising, and for our business. It is extremely encouraging to see the level of belief in our business and strategy.

We look forward to the future, as the impacts of COVID-19 related restrictions begin to lift and we can turn our focus to the execution of our strategy as we seek to unlock the value inherent in the AMA Group.

AMA intends to use the new fund to pay back $72.5 million in debt facilities. It will deploy the additional $69.3 million to support growth plans, boost liquidity and provide working capital.

AMA Group share price snapshot

The AMA Group share price has been under heavy selling pressure in 2021, down 46%. That compares to an 11% year-to-date gain posted by the All Ordinaries Index (ASX: XAO).

Over the past month, AMA’s shares have dropped  almost 14%.

The post Here’s why the AMA Group (ASX:AMA) share price is on the rise today 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 Kogan.com Ltd (ASX: KGN) share price is out of form and trading lower on Monday.

In afternoon trade, the ecommerce company’s shares are down 1% to $10.46.

This means the Kogan share price is down 46% since the start of the year.

Why is the Kogan share down 46% in 2021?

Investors have been selling down the Kogan share price this year after its strong performance during the early stages of the pandemic reversed.

This was driven by management failing to predict a sharp slowdown in sales after bricks and mortar stores reopened.

This ultimately led to the company having a significant inventory excess and, at times, nowhere to put it. The latter resulted in the company incurring millions of dollars in demurrage costs for stock that was stuck at ports.

In light of this, Kogan reported a net profit after tax of just $3.5 million for FY 2021, down 86.8% year on year, and decided to suspend its dividend.

Is this a buying opportunity?

One leading broker that believes the Kogan share price has fallen to an attractive level is Credit Suisse.

In response to its full year results last month, the broker retained its outperform rating but cut its price target down to $14.06.

Based on the current Kogan share price, this implies potential upside of 34% over the next 12 months.

According to the note, the broker acknowledges that its elevated cost case could take a bit of time to normalise. However, it believes it is worth sticking with the company.

Credit Suisse remains positive on the company due to its private label business and its long term growth potential thanks to its strong market position and the shift to online shopping.

All in all, while the Kogan share price performance has been very disappointing over the last 12 months, the broker appears optimistic the next 12 months will be much more positive.

The post The Kogan (ASX:KGN) share price has shed 46% this year. Is it a buy? 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 Kogan.com ltd. The Motley Fool Australia owns shares of and has recommended Kogan.com 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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ASX investors looking to diversify their portfolio might turn to exchange-traded funds (EFTs) such as those offered by Vanguard.

And for Australians interested in benefitting from global markets but not sure where to start, the Vanguard MSCI Index International Shares ETF (ASX: VGS) could be seen to be a great option.

As with all EFTs, Vanguard’s International Shares ETF is a collection of securities that can be traded like a share. However, this one is focused on international markets, housing a whopping 1505 stocks.

Right now, an investor can get their hands on a piece of the EFT for $101.69. Also worth noting is the fund’s 1.58% dividend.

So, what companies are holders of Vanguard’s International Shares ETF backing? Let’s take a look.

What stocks make up the Vanguard International Shares EFT?

There are 5 stocks that each make up more than 1% of the Vanguard International Shares EFT. Interestingly but not surprisingly, they’re all housed on the NASDAQ exchange and need no introduction.

They are Apple Inc (NASDAQ: AAPL), Microsoft Corporation (NASDAQ: MSFT), Amazon.com, Inc. (NASDAQ: AMZN), Facebook, Inc. Common Stock (NASDAQ: FB), Alphabet Inc Class C (NASDAQ: GOOG), and Alphabet Inc Class A (NASDAQ: GOOGL).

They make up around 4.6%, 3.5%, 2.4%, 1.4%, 1.4%, and 1.3% of the EFT respectively.

Tesla Inc (NYSE: TSLA) comes in just short, making up 0.9% of the EFT’s holdings.

Other recognisable stocks held by the Vanguard International Shares EFT are Johnson & Johnson (NYSE: JNJ), Visa Inc (NYSE: V), PayPal Holdings Inc (NASDAQ: PYPL), and the currently renown Pfizer Inc. (NYSE: PFE).

Further down the EFT’s holdings rank are companies from the United Kingdom, Canada, Japan, the Netherlands, France and Switzerland, among others.

Those interested can find the list of the EFT’s 1505 holdings here.

Now, perhaps the most important question…

How has the EFT performed lately?

The Vanguard MSCI Index International Shares EFT has been doing well on the ASX lately.

It is currently trading for 21% higher than it was at the start of 2021 and 28% more than it was this time last year.

The post Own the Vanguard MSCI Index International Shares ETF (ASX:VGS)? Here’s what you’re invested in 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.

John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. Teresa Kersten, an employee of LinkedIn, a Microsoft subsidiary, is a member of The Motley Fool’s board of directors. Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to its CEO, Mark Zuckerberg, is a member of The Motley Fool’s board of directors. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Alphabet (A shares), Alphabet (C shares), Amazon, Apple, Facebook, Microsoft, PayPal Holdings, Tesla, and Visa. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Johnson & Johnson and has recommended the following options: long January 2022 $1,920 calls on Amazon, long January 2022 $75 calls on PayPal Holdings, long March 2023 $120 calls on Apple, short January 2022 $1,940 calls on Amazon, and short March 2023 $130 calls on Apple. The Motley Fool Australia has recommended Alphabet (A shares), Alphabet (C shares), Amazon, Apple, Facebook, PayPal Holdings, and Vanguard MSCI Index International Shares ETF. 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 Liontown Resources Limited (ASX: LTR) share price is soaring to new heights despite no news having been released by the company.

However, the mineral exploration and development company has been busy lately.

Its spin-off’s Initial Public Offering (IPO) is just weeks away and it’s enjoying its new spot on the S&P/ASX 300 Index (ASX: XKO).

Right now, the Liontown share price is $1.34, 18.14% higher than its previous close. That also represents a new all-time high for Liontown’s stock.

Let’s take a closer look at what Liontown has been up to lately.

What’s Liontown been up to lately?

The Liontown share price is taking off today despite the company’s silence. Here’s what it’s been up to lately.

Anticipation is continuing to build for the company’s planned spin-off’s ASX debut.

Liontown is spinning off its non-lithium assets into Minerals 260 Limited. As part of the spin-off, Liontown shareholders will receive 1 share in Minerals 260 for every 11.91 Liontown shares they hold.

Following the demerger, Minerals 260 will own the Moora Gold-Nickel-Copper-PGE Project and will have an option to earn a 51% interest in the Koojan Gold-Nickel-Copper-PGE Project, the Dingo Rocks Project, and tenement applications at Yalwest.

Minerals 260 is also waiting to float on the ASX on 11 October. Under Minerals 260’s prospectus, 60 million shares of the company were offered for 50 cents apiece.

Additionally, the Liontown share price might have been strengthened recently by its recognition as one of the ASX’s top 300 companies.

The company was one of 13 that made their way onto the ASX 300 Index as part of S&P Dow Jones Indices’ quarterly rebalance.

Liontown share price snapshot

It’s been a good year for the Liontown share price, which has gained 217% since the start of 2021.

It is also currently 685% higher than it was this time last year.

The post The Liontown (ASX:LTR) share price is leaping 18% to a new all-time high today 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 Veem Ltd (ASX: VEE) share price is in freefall today following the company’s update on its capital raise.

During early afternoon trade, the marine technology company’s shares are down a sizeable 11.51% to $1.23. This means that since 3 September, its share price has lost close to 15%, hitting early August lows.

Veem completes capital raise

A catalyst to the falling Veem share price could be new shares coming onto the company’s registry.

According to the company announcement, Veem advised it has successfully raised $6 million before costs by a way of placement.

The offer received strong support from both institutional and sophisticated investors, subscribing for 5.1 million shares at $1.18 apiece. This represents a 15.1% discount to the last traded price on 8 September and a 10.3% discount to the 15-day volume-weighted average price.

Concurrent with the placement and investor demand, the company’s founders, the Miocevich family, have offloaded 11.9 million shares. The partial sell-down is expected to improve liquidity and the free float of Veem shares in the market.

Once the transaction is fulfilled, the Miocevich family will hold a controlling 50.4% interest in the company. No intention has been stated to sell any more shares in the near-term future.

In addition to the placement, Veem announced it will open a Share Purchase Plan (SPP) on 22 September. The pricing terms will be the same as the placement, with the intention to raise approximately a further $2 million.

Both proceeds will be directed towards a number of initiatives. These include funding research and development, sales and marketing to drive gyro sales growth and working capital.

Veem chair Brad Miocevich commented:

We are particularly excited about the very high demand from investors leading to a successful capital raising which will allow us to further invest in the gyrostabilizer business which is at the leading edge of the industry. The market is significant and over the past few years we have truly started to become recognised as the global leader. We now have the opportunity to ensure we deliver on this mission as well as the broader base of the business.

About the Veem share price

Over the last 12 months, Veem shares have climbed by more than 166% and, year-to-date, are up 51%. Despite today’s drop, the company’s shares have gradually increased over the long term to provide fruitful returns for investors.

Veem presides a market capitalisation of roughly $161 million and has 130 million shares on its registry.

The post Why the Veem (ASX:VEE) share price is sinking 11% today 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 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 Australian Strategic Materials Ltd (ASX: ASM) share price is firmly in the red during early afternoon trade on Monday.

Australian Strategic shares are now exchanging hands at $10.88 apiece, a 9.41% drop from the open.

Despite this, Australian Strategic has been on a run of fundamental momentum lately that has weighed in on its share price.

Let’s investigate further.

What’s been driving the Australian Strategic Materials share price lately?

Australian Strategic Materials has aspirations to be a top level rare earths and critical metals supplier. As such, it has exposure to these assets already, which have been fetching a premium in the commodities markets lately.

Strengths in the broader commodity markets for metals to which the company has exposure is no doubt a key driving force for the Australian Strategic Materials share price lately.

Aside from this, the company advised it had entered into an exclusive framework with a consortium of South Korean investors. Under the agreement, the consortium has acquired an equity stake in the company.

Funds raised will be used to support the development of the company’s Dubbo project.

This is important because the Dubbo project is the major source of fuel in the company’s growth engine right now.

As a result, the Australian Strategic Materials share price soared to its all time high on the day of this announcement.

Adding to the momentum is that Australian Strategic Materials was added to the S&P/ASX 300 Index (ASX: XKO) after its quarterly rebalance.

The inclusion is no doubt a big move for the company’s shares, which would have met a number of tests.

Australian Strategic Materials share price snapshot

The Australian Strategic Materials share price has climbed 74% this year to date, extending the gain over the last 12 months to 457%.

Both of these results have outpaced the S&P/ASX 200 index (ASX: XJO)’s return of around 25% over the past year.

The post The Australian Strategic Materials (ASX:ASM) share price is sliding 7% on Monday appeared first on The Motley Fool Australia.

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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 Deep Yellow Limited (ASX: DYL) share price has surged more than 24% in today’s session.

Shares in the uranium explorer have fired to record highs as the uranium sector heats up.

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

What’s propelling the Deep Yellow share price higher?

Deep Yellow has not released any price-sensitive news to explain today’s eccentric price action.

Instead, shares in the uranium explorer have propelled higher thanks to a single catalyst.

The uranium sector as a whole has been on fire recently as spot uranium prices soar to 7-year highs.

Following a prolonged bear market, the uranium spot price has bolted in the past month to hit highs of approximately US$35/lb.  

A major driver has been the aggressive buying of the world’s largest uranium fund, Sprott Physical Uranium Trust.

As a result, the resurgence of spot prices has initiated a buying frenzy for ASX shares in the uranium sector such as Deep Yellow.

More Deep Yellow

Deep Yellow explores uranium mineral properties and has pre-development activities in Namibia and the states and territories of Australia. 

The company has various exploration prospects, in particular its cornerstone Tumas Project in Namibia.

Deep Yellow recently completed drilling at its Tumas 1 East site. The company reported an impressive conversion rate of inferred mineral resources to indicated mineral resources of 102%.

In addition, the company noted that the drilling program could see the project achieve its Life of Mine (LOM) object of 20 years.

Deep Yellow also noted that its robust resource base will help support its upcoming definitive feasibility study.

Snapshot of the Deep Yellow share price

The Deep Yellow share price has been bordering on vertical in the past month.

In addition to today’s stellar price action, shares in the uranium explorer have surged more than 50% since the start of September.

At the time of writing, shares in Deep Yellow are trading just shy of their intra-day and record high of $1.215.

The post Deep Yellow (ASX:DYL) share price surges 24% to record highs appeared first on The Motley Fool Australia.

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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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Motley Fool Australia Chief Investment Officer Scott Phillips joined Weekend Sunrise on Sunday to discuss the RBA’s confident and optimistic outlook for the Australian economy, despite lockdown job losses. And where we’ve been spending our money…

The post Job losses, but the RBA remains confident. Scott Phillips on Weekend Sunrise appeared first on The Motley Fool Australia.

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Motley Fool contributor Scott Phillips 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 Sydney Airport Holdings Pty Ltd (ASX: SYD) share price has jumped 5% after the airport company received another takeover bid.

What is the new offer?

Readers may remember that roughly a month ago that a consortium, which included IFM Investors and QSuper, lobbed a revised bid for the company of $8.45 per share, which was an increase from the first offer of $8.25. Those bids were not high enough to get the Sydney Airport boards interested.

That consortium has come back with another bid of $8.75 for the business. This bid is also indicative, conditional and non-binding. The terms and conditions are consistent with the offer last month.

After taking advice and considering all the relevant factors, Sydney Airport said it intends to grant the investment consortium with the opportunity to conduct due diligence on a non-exclusive basis to enable it to put in a binding proposal.

This due diligence is expected to take approximately four weeks after entering into a non-disclosure agreement.

Will Sydney Airport accept this offer?

The company said that if the consortium makes a binding offer at a Sydney Airport share price of $8.75, then as long as the parties enter into an agreement acceptable to Sydney Airport (including the timeframe of the deal), then the boards said they currently intend to unanimously recommend that the takeover is approved by shareholders. However, that’s only if there are no better bids and an independent expert thinks it’s in the best interests of Sydney Airport investors.

The boards noted there is no certainty that there will be a binding offer from the consortium and investors don’t need to do anything at this stage.

Does the Sydney Airport share price fully reflect the offer?

Sydney shares are currently trading at $8.38, close to 5% higher than yesterday.

However, the Sydney Airport share price is still around 4% lower than the indicative offer price of the bid. But, a lot of things still need to happen before a potential takeover process is completed.

Passenger traffic continues to be impacted by COVID-19 effects. In July 2021, there were only 69,000 of domestic passengers (down 75.1% year on year) and 33,000 of international passengers (down 20.9%). That meant the total passengers were down 67.9% to 102,000. In 2021 year to date, total passengers were down 37.4% to 6 million.

The post Sydney Airport share price soars 5% on latest takeover news appeared first on The Motley Fool Australia.

More reading

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Motley Fool contributor Tristan Harrison 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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