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The Galileo Mining Ltd (ASX: GAL) share price ended Tuesday’s trading session firmly in the green. With no announcements out of the resources company today, it appears yesterday’s news could be behind the gains.

At the closing bell, Galileo shares finished 10.34% higher to 32 cents. In comparison, the All Ordinaries Index (ASX: XAO) closed 0.52% higher to 7,829 points.

What did Galileo Mining update the ASX with?

On Monday, Galileo released the results of its electromagnetic (EM) surveying in the Fraser Range region of Western Australia. The Galileo Mining share price seesawed on the news yesterday.

The company highlighted a new nickel sulphate target less than 5 kilometres from drilled nickel sulphides in the Fraser Range.

The shallow, large, and conductive target was near the Lantern South Prospect, where previous drilling intersected nickel-copper sulphides. The results included:

• 41 metres at 0.19% nickel and 0.14% copper (LARC012)
• 5 metres at 0.49% nickel and 0.46% copper, including 1 metre at 0.66% nickel and 0.75% copper (LARC003)

Additionally, the company said it was continuing EM surveying within the project area to define other nickel-copper sulphide targets for drill testing.

Managing director Brad Underwood touched on the activities that could be driving the Galileo Mining share price today:

Our Fraser Range drilling earlier this year focused on the Lantern Prospects where the potential for discovery was demonstrated by the identification of nickel-copper sulphides. Since then, we have been aggressively exploring the area with EM surveys designed to look for buried sulphides.

This work is beginning to show results with a new target identified just 5 kilometres along strike from Lantern South in a similar geological setting. Infill EM surveying and modelling will now be undertaken to refine the target prior to drill testing.

Galileo Mining share price summary

Over the past 12 months, the Galileo Mining share price has taken investors on a rollercoaster ride, with sharp downturns included. In that period, its shares have lost about 20% of their value, while they have gained 40% year to date.

Galileo has a market capitalisation of roughly $45 million based on today’s closing price, with 143 million shares on hand.

The post Why the Galileo Mining (ASX:GAL) share price rocketed 10% today appeared first on The Motley Fool Australia.

More reading

• Galileo (ASX:GAL) share price lifts on drill results, up 30% in a month
• Why the Galileo Mining (ASX:GAL) share price is racing 12% higher today

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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If you don’t have sufficient funds to build a truly diverse portfolio, then exchange traded funds (ETFs) could be a quick fix.

This is because ETFs give investors access to a large number of different shares through just a single investment.

With that in mind, I have picked out three ETFs that could be good options in September. Here’s what you need to know about them:

BetaShares NASDAQ 100 ETF (ASX: NDQ)

If you’re interested in gaining exposure to the US tech sector, then the BetaShares NASDAQ 100 ETF could be one to consider. This ETF provides investors with access to the 100 largest non-financial shares on the NASDAQ index. Among the 100 shares included in the fund are some of the highest quality companies in the world. This includes giants such as Amazon, Apple, Facebook, Microsoft, Netflix, and Tesla.

iShares Global Consumer Staples ETF (ASX: IXI)

Another ETF to look at in September is the iShares Global Consumer Staples ETF. This fund provides investors with exposure to a large number of global consumer staples companies that produce essential products. These include food, tobacco, and household items. Because demand for these types of products is relatively consistent whatever happens in the economy, this ETF could be suitable for investors that are looking for low risk options. Among its largest holdings are giants such as Coca-Cola, Nestle, PepsiCo, Procter & Gamble, Unilever, and Walmart.

Vanguard MSCI Index International Shares ETF (ASX: VGS)

A final ETF to look at is the Vanguard MSCI Index International Shares ETF. This ETF provides investors with easy access to 1,505 of the world’s largest listed companies from major developed countries. Among the well-known companies you’ll be buying a slice of are Apple, Johnson & Johnson, JP Morgan, Nestle, Procter & Gamble, and Visa. Vanguard notes that this ETF allows investors to participate in the long-term growth potential of international economies outside Australia.

The post 3 ETFs for ASX investors in September appeared first on The Motley Fool Australia.

More reading

• What’s been moving the Nasdaq 100 in August?
• 2 top ETFs for ASX investors in September
• Want to invest, but not sure where to start?
• 3 excellent ASX ETFs for investors
• From zero to investing in one week: THIS WEEK. Scott Phillips on Sunrise

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 BETANASDAQ ETF UNITS. The Motley Fool Australia owns shares of and has recommended BETANASDAQ ETF UNITS and iShares Global Consumer Staples ETF. The Motley Fool Australia has recommended 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 S&P/ASX 200 Index (ASX: XJO) is enjoying a pretty decent day on the markets this Tuesday. At market close, the ASX 200 finished the trading at 7,535 points, up 0.41%. So let’s dig into the ASX 200 shares that are topping the charts in terms of trading volume today.

The 3 most traded ASX 200 shares on Tuesday

Scentre Group (ASX: SCG)

ASX 200 Real Estate Investment Trust (REIT) and Westfield owner Scentre is our first share to check out today. This Tuesday saw a substantial 14.04 million shares swap hands. That’s despite the absence of any major news or announcements out of this company today.

As such, we can probably put this high trading volume down to what’s happened with the Scentre unit price today. At market close, Scentre units are down 0.35% to $2.85 after initially falling to $2.83 and rising to $2.87 a few hours later. It’s probably this volatility that is behind so many Scentre units trading today.

South32 Ltd (ASX :S32)

Diversified ASX 200 miner South32 is next up on our list. We saw 27.70 million South32 shares bought and sold today. Again, there are no major news or announcements out of the company today, so it’s probably all about that share price for South32.

At market close, the miner is up a robust 1.95% this Tuesday to $3.14 a share. This week so far has sene South32 put on an impressive 9%. It’s likely this strong buying pressure is resulting in such a high volume of shares flying around the markets today.

Mesoblast Limited (ASX: MSB)

Our final ASX 200 share to look at today is medical company Mesoblast, with a whopping 20.85 million shares having changed hands. Unfortunately for investors, Mesoblast has a large share price fall to likely thank for all these shares zipping around. At market close, the company is down a nasty 15.91% today to $1.67 a share after falling more than 16% earlier today to a new 52-week low.

This seems to be in response to the company’s FY21 earnings report which was released this morning. As my Fool colleague James covered at the time, the company had to front investors with a report card showing revenues down 77% year on year. It’s perhaps no surprise we are seeing a sell off then, which is almost certainly behind the large trading volumes we see today.

The post These 3 ASX 200 shares are the most traded this Tuesday appeared first on The Motley Fool Australia.

More reading

• Here are the top 10 ASX 200 shares on Tuesday
• Mesoblast (ASX:MSB) share price crashes 16% to 52-week low on cash concerns
• Why Bubs, Harvey Norman, Mesoblast, & Regis shares are dropping
• Woolworths (ASX:WOW) share price history: What caused the biggest ups and downs?
• Why the Qantas (ASX:QAN) share price has beaten the ASX 200 in the last year

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 AGL Energy Limited (ASX: AGL) share price ended the day in the red amid news the company’s senior leadership team will be shrunk following its demerger.

AGL will reduce its senior executive team from 9 members to just 5 after the company splits into AGL Australia and Accel Energy. Accel Energy’s leadership team will comprise of just 3 members.

The AGL share price closed at $6.47, 0.92% lower than its previous close.

Let’s take a closer look at the future upper management shake-up.

AGL share price slides amid leadership shakeup

The AGL share price struggled today amid planned cuts to its senior management team.

The company’s executive of corporate affairs, Elizabeth McNamara, will be saying goodbye in the near future. Also exiting is executive general manager (EGM) of future business and technology, John Chambers, and its EGM of strategy and corporate development, Joao Segorbe.

The company’s executive general counsel and secretary, John Fitzgerald, will take on the same role in the reimagined AGL Australia. However, he too will step away in December 2022.

AGL has previously stated it hopes to have completed the demerger by the fourth quarter of FY22. The split will see AGL torn into the retail-focused AGL Australia and energy generating business Accel Energy.

The AGL share price slid 9.99% on the back of the company’s demerger plan.

Today, a spokesperson for AGL said both new companies will be headquartered in Melbourne. However, they will retain a strong presence in Sydney.

AGL has also pinned who will make up its soon-to-be upper management teams.

Accel Energy’s upper management

Here’s the makeup of Accel Energy’s future leadership team:

• AGL’s current general manager of people and culture, Amanda Lee, will step in as chief people officer.
• AGL’s secretary, Melisa Hunter, will take on the same role at Accell.
• Recruitment is underway for Accel Energy’s chief financial officer.

Accel Energy’s leadership team will report to its CEO, Christine Corbett.

AGL Australia’s leadership team

Some of AGL Australia’s upper management team has also been finalised. Here’s who made the cut:

• AGL’s EGM of people and culture, Jo Fox, will be the new company’s EGM of people and corporate affairs.
• AGL’s general manager of commercial and industrial customers, Ryan Warburton, is to become AGL Australia’s EGM of business and commercial customers.
• General manager of product and portfolio, Jo Egan, will become AGL Australia’s chief customer officer.
• Finally, recruitment is underway for AGL Australia’s new EGM of trading, supply, and operations.

AGL Australia’s leadership team will report to AGL’s current interim managing director and CEO, Graeme Hunt.

AGL share price snapshot

It hasn’t been a good year on the ASX for AGL.

Its share price has slipped 46% year to date. It is also 56% lower than it was this time last year.

The post AGL (ASX:AGL) share price struggles amid major management shake-up appeared first on The Motley Fool Australia.

More reading

• Here’s why the AGL (ASX:AGL) share price is down today
• August hasn’t been a great month so far for the AGL (ASX:AGL) share price
• Here’s why the AGL (ASX:AGL) share price is down 6% in a week
• How does the AGL (ASX:AGL) earnings result compare to Origin?
• When was the worst-ever day on the AGL (ASX:AGL) share price chart?

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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Today, the S&P/ASX 200 Index (ASX: XJO) pushed upwards to cement its second consecutive day of gains. The benchmark index finished 0.51% higher to 7,543 points. Tech shares did plenty of the heavy lifting, with strong performances from WiseTech Global Ltd (ASX: WTC), Xero Limited (ASX: XRO), and TechnologyOne Ltd (ASX: TNE).

However, the question is: which shares from the top 200 delivered the most green on the ASX today? Here are the ten stocks that delivered the biggest gains while the market fell:

Top 10 ASX 200 shares countdown today

Looking at the top 200 listed companies, WiseTech was the biggest gainer today. Shares in the logistics software company increased 6.1% despite no news. Find out more about WiseTech here.

The next best performing ASX share out of the top 200 today was Endeavour Group Ltd (ASX: EDV). The liquor retailer’s shares rallied 5.15% to $7.35 today, once again with no announcements. Uncover the latest Endeavour Group information here.

Today’s top 10 biggest gains were made in these ASX 200 shares:

ASX-listed company	Share price	Price change
WiseTech Global Ltd (ASX: WTC)	$48.64	6.39%
Endeavour Group Ltd (ASX: EDV)	$7.355	5.22%
Healius Ltd (ASX: HLS)	$4.885	4.60%
Reliance Worldwide Corporation Ltd (ASX: RWC)	$5.845	4.56%
NextDC Ltd (ASX: NXT)	$13.275	3.79%
Resmed Inc (ASX: RMD)	$40.36	3.75%
Lynas Rare Earths Ltd (ASX: LYC)	$6.90	3.60%
Orocobre Ltd (ASX: ORE)	$9.07	3.54%
Premier Investments Ltd (ASX: PMV)	$28.35	3.24%
Atlas Arteria (ASX: ALX)	$6.885	3.22%

Our top 10 ASX 200 shares countdown is a recurring end-of-day summary to ensure you know which companies were making big moves on the day. Check-in at Fool.com.au after the market has closed during weekdays to see which stocks make the countdown.

The post Here are the top 10 ASX 200 shares on Tuesday appeared first on The Motley Fool Australia.

More reading

• Woolworths (ASX:WOW) share price history: What caused the biggest ups and downs?
• Why the Qantas (ASX:QAN) share price has beaten the ASX 200 in the last year
• The latest ASX shares to be hit by a broker downgrade
• ASX 200 midday update: Harvey Norman’s record profit, PointsBet posts large loss
• 5 things to watch on the ASX 200 on Tuesday

Motley Fool contributor Mitchell Lawler owns shares of Lynas Corporation Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Reliance Worldwide Corporation Limited, WiseTech Global, and Xero. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended ResMed. The Motley Fool Australia owns shares of and has recommended Premier Investments Limited, WiseTech Global, and Xero. The Motley Fool Australia has recommended Reliance Worldwide Corporation Limited and ResMed Inc. 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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Just as you thought it was safe to bargain hunt ASX 200 iron ore miners, a leading broker warns that the calm won’t last.

The share prices of ASX iron ore shares have been under strain recently as the price of the commodity tumbled from its peak.

The steel making ingredient was fetching over US$200 a tonne before crashing around 25% in three weeks.

ASX 200 iron ore miners finding renewed favour

Price of the ore seems to be stabilising at around US$150 a tonne. That’s prompting ASX investors to buy the Fortescue Metals Group Limited (ASX: FMG) share price, BHP Group Ltd (ASX: BHP) share price and Rio Tinto Limited (ASX: RIO) share price.

These ASX shares not only delivered record or near record profits, but they are a key contributor to Australia’s $38 billion dividend bonanza this reporting season!

But this could be as good as it gets. UBS took a deeper look at what caused the iron ore price to sink from its record high and it believes the mineral is heading lower in the coming months.

Why iron ore was knocked off its perch

What sparked the rout was China’s decision to ensure the country’s steel production stayed flat in 2021.

If this comes to pass, Chinese crude steel production is set to fall 59 million tonnes in the second half of this year compared to the same period in 2020.

China’s pig iron output (a cheap substitute used to make low quality steel) is down around 6% in July compared to June. UBS also noted that key steel producers, including China Baowu Steel Group Corp., Ltd., have also announced plans to cut production in the current half.

Mixed signals cloud outlook

“This has resulted in mills destocking and iron ore prices falling sharply in a thin spot market,” said UBS.

“Other policy developments are mixed: the govt remains focused on controlling the leverage of developers and property prices but is taking measures to accelerate infrastructure construction.

“This has resulted in steel prices lifting while iron ore prices fall.”

Another mixed outcome is iron ore output. Exports of the commodity have not yet lifted materially from Australia or Brazil, although Vale SA and Rio Tinto’s guidance suggest supply will increase by circa 60Mt in this half.

ASX 200 miners brace for more iron ore pain

“We expect the China’s steel curtailments to be targeted in 4Q when demand slows seasonally and air pollution is in focus (especially ahead of the Winter Olympics in Feb-22),” said UBS.

“And as a result, we expect prices to stabilise in Sept/Oct before continuing to fall back <$100/t in 2022.”

Foolish takeaway

If the broker is right, we could see ASX 200 iron ore miners come under renewed pressure in the coming months.

The silver lining is that analysts and governments don’t have a very good track record in forecasting commodity prices. ASX investors will be hoping this remains true.

The post ASX 200 miners beware as UBS warns iron ore will sink under US$100 in 2022 appeared first on The Motley Fool Australia.

More reading

• Leading brokers name 3 ASX shares to sell today
• The BHP (ASX:BHP) share price is down 14% in a month. Here’s why
• August hasn’t been a great month for the Rio Tinto (ASX:RIO) share price
• Top broker gives its verdict on the Fortescue (ASX:FMG) share price
• Fortescue (ASX:FMG) share price bounces despite looming iron ore supply outlook

Motley Fool contributor Brendon Lau owns shares of BHP Billiton Limited, Fortescue Metals Group Limited, and Rio Tinto Ltd. 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 Regional Express Holdings Ltd (ASX: REX) share price is in positive territory during late afternoon trade. This comes after the regional airline company dropped its full-year results for the 2021 financial year.

At the time of writing, Regional Express shares are travelling 2.54% higher to $1.21.

Let’s take a look at how the company performed for the period.

Regional Express share price moves ahead despite mixed performance

Investors are adding the Regional Express share price to their holdings following the company’s latest results. Here are some of the key operational highlights:

• Group total revenue of $256.2 million, down 20.4% on the prior corresponding period (FY20 $321.8 million);
• Underlying operating loss before tax of $18.4 million, up 33% (FY20 loss of $27.4 million);
• Statutory profit after tax (PAT) loss of $4.9 million, up 34.6% (FY20 statutory PAT loss of $19.4 million);
• No dividend declared

What happened in FY21 for Regional Express?

The company reported mixed numbers for its scorecard for the 2021 financial year. However, this hasn’t affected the Rex share price, and its peers alike. In fact, most travel shares are up today as the Australian government accelerates its vaccination program.

For the 12 months ending 30 June 2021, Regional Express recorded passenger revenue of $125.2 million, down 41.3%. This is a stark contrast from the $213.2 million achieved in FY20.

Management managed to keep costs down with expenses, excluding fuel, coming in at $249.7 million, down 20.9%. In comparison, this time last year, costs not including aviation fuel were at $315.6 million.

This led to Regional Express registering an underlying operating loss before tax of $18.4 million, up 33% (FY20 loss of $27.4 million).

What did management say?

Regional Express executive chair, Lim Kim Hai touched on the result, saying:

The airline industry has never been as badly ravaged in its entire history as today with a staggering drop of 56% in passenger numbers globally. To understand the magnitude of the devastation, the drop in global passenger numbers was 16% during the Global Financial Crisis. Rex’s passenger numbers fell by 29% in the past financial year.

FY22 outlook for Regional Express

Looking ahead, Regional Express noted the first half of FY22 will be impacted by the current lockdowns and domestic border closures. Furthermore, given the unpredictable nature of the pandemic, new waves of infection could hit Australian shores.

Given this outlook, Regional Express is pessimistic about the recovery of the aviation market. While snap travel restrictions and border shutdowns can happen at any time, the company moved against providing a profit guidance.

The post Regional Express (ASX:REX) share price up on 33% net loss after tax improvement appeared first on The Motley Fool Australia.

More reading

• Flight Centre (ASX:FLT) share price slips despite Rex (ASX:REX) agreement
• Why the Regional Express (ASX:REX) share price is down
• Qantas (ASX:QAN) share price wobbles as rival questions staff layoffs

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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There are a few ASX tech shares that could be long-term opportunities at the current prices.

It’s often businesses in the technology sector that are delivering new services or introducing a new way of doing things.

If a technology business can grow revenue quickly then that may come with good profit margins.

These two ASX tech shares could be good prospects for the long-term:

VanEck Video Gaming and Esports ETF (ASX: ESPO)

This exchange-traded fund (ETF) is about businesses in the video gaming and e-sports sector, if you hadn’t already guessed from the name.

There are currently 26 names in the portfolio. These are the top ten positions at the moment: Nvidia, Advanced Micro Devices, Sea, Tencent, Unity Software, Activision Blizzard, Nintendo, Electronic Arts, Bandai Namco and Roblox Corp.

To qualify for the portfolio, businesses have to generate a “significant” portion – at least 50% – of revenue from the video gaming sector.

Holdings include video game and related hardware and software developers, streaming services, companies involved in e-sports events and so on.

E-sports, which now get very large digital crowds, has created multiple new revenue streams from game publisher fees, media rights, merchandise, ticket sales and advertising.

VanEck says that video gaming revenue has grown by an average of 12% per year since 2015. This is helping underlying profit grow too. VanEck says this industry could be a long-term growth story.

Redbubble Ltd (ASX: RBL)

Redbubble is currently rated as a buy by the broker Morgans.

This ASX tech shares sells products with artist designs on them such as wall art, clothing, stationery and phone cases.

Morgans is attracted to the long-term outlook for the business, though the short-term could be difficult. The broker thinks that the business can grow its earnings over the coming years.

Redbubble saw marketplace revenue increase by 58% to $553 million. This led to earnings before interest, tax, depreciation and amortisation (EBITDA) soaring 930% to $53 million. It also made $31 million of net profit after tax (NPAT), compared to a loss of $9 million in FY20. Operating cashflow was $55 million for the year, up from $47 million in FY20.

The number of unique customers rose 40% to 9.5 million, with 67% growth in purchases from repeat customers, contributing 42% of marketplace revenue. It had 44 fulfiller locations across the network, up from 41 at the end of FY20.

Over the next few years, Redbubble is aiming to reach $1.25 billion of marketplace revenue. The first half of FY22 is expected to show a decline of marketplace revenue because of a very strong prior corresponding period. But the second half is expected to show a return to growth.

In the medium-term, the ASX tech share is going to invest heavily for growth to drive an increase in users, orders and repeat buying.

Over the longer-term, the Redbubble EBITDA margin is expected to increase as its operating leverage strengthens.

The post 2 ASX tech shares that could be buys in September 2021 appeared first on The Motley Fool Australia.

More reading

• These are the 10 most shorted ASX shares
• 2 ASX shares I like from reporting season: expert
• 3 reasons why the Redbubble (ASX:RBL) share price could be a buy
• Why Ampol, NIB, Redbubble, & Sonic shares are dropping
• 3 excellent ASX ETFs for investors

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 recommended VanEck Vectors ETF Trust – VanEck Vectors Video Gaming and eSports 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 Pan Asia Metals Ltd (ASX: PAM) share price has jumped into the green during afternoon trade on Tuesday.

Pan Asia shares are on the move today after the company released an announcement just before the market open.

Let’s investigate what happened.

A quick refresher on Pan Asia Metals

Pan Asia Metals is a minerals exploration company that has tungsten and lithium projects in Thailand.

It has a suite of specialty metals projects located in the Southeast Asian Tin–Tungsten belt, where a plethora of resources has been located over the years.

At the time of writing, Pan Asia Metals has a market capitalisation of around $19 million.

What did Pan Asia announce?

In what investors deemed a positive for the Pan Asia Metals share price, the company reported it had lodged a number of “geothermal lithium and hard rock lithium and tin exploration block applications”.

Specifically, it lodged five “special prospecting licence applications (SPLA)” in southern Thailand, at a site known as the “Kata Thong Lithium Project”.

According to Pan Asia, two of the SPLAs “contain geothermal fields” that are “highly prospective” for geothermal-style lithium.

Four of the SPLAs also are highly prospective for “lepidolite-style lithium and tin”, where each SPLA contains “at least 1 historic tin mine”.

As a result of the applications, and exposure to the Kata Thong lithium project, Pan Asia is a “potential low to zero carbon emitter” via the use of geothermal energy. This is coupled with “nearby” energy from the Rajjabrabha Hydro-electric power station, as per the release.

Pan Asia also stated Kata Thong “potentially positions (the company) to have a zero carbon footprint”.

Investors have relished the news today and are buying Pan Asia shares in droves. They have pushed the Pan Asia Metals share price 134.4% higher on the day.

Pan Asia shares are now exchanging hands at 34 cents apiece, well above the opening price of 16.5 cents.

Pan Asia Metals share price snapshot

The Pan Asia Metals share price has posted a year-to-date return of around 150%.

This sits well ahead of the S&P/ASX 200 index (ASX: XJO)’s return of around 14% since January 1.

The post Pan Asia Metals share price soars 130% on lithium project update appeared first on The Motley Fool Australia.

More reading

• Leading brokers name 3 ASX shares to sell today
• Why is the Kogan (ASX:KGN) share price 7% higher today?
• How China is fuelling demand for this leading ASX ETF
• Mesoblast (ASX:MSB) share price crashes 16% to 52-week low on cash concerns
• What’s been moving the Nasdaq 100 in August?

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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On Monday I looked at three ASX shares brokers have given buy ratings to this week.

Unfortunately, not all shares are in favour with them right now. Three that have just been given sell ratings are listed below. Here’s why these brokers are bearish on these ASX shares:

Fortescue Metals Group Limited (ASX: FMG)

According to a note out of Morgan Stanley, its analysts have retained their underweight rating and $18.55 price target on this iron ore giant’s shares. Although Fortescue delivered a full year result in line with its expectations, it isn’t enough for a change of rating. The broker remains bearish due to concerns over the iron ore cycle turning negative, widening low grade discounts, and higher capital expenditure. The Fortescue share price is currently trading at $21.08.

InvoCare Limited (ASX: IVC)

A note out of Citi reveals that its analysts have retained their sell rating but lifted their price target on this funerals company’s shares to $11.00. Citi notes that InvoCare delivered a strong first half result, which was well ahead of its forecasts. However, it fears that a lot of this could be undone in the second half due to lockdowns. In light of this, it is holding firm with its sell rating. The InvoCare share price is fetching $12.27 today.

Wesfarmers Ltd (ASX: WES)

Another note out of Citi reveals that its analysts have retained their sell rating but lifted their price target on this conglomerate’s shares to $49.00. Citi was pleased with Wesfarmers’ performance in FY 2021 and the announcement of a $2.3 billion capital return. However, due to valuation concerns, the broker isn’t in a rush to change its rating. Particularly given supply chain disruptions, rising freight and commodity costs, and increasing investment in digital and automation. The Wesfarmers share price is trading at $60.13 today.

The post Leading brokers name 3 ASX shares to sell today 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 Wesfarmers Limited. The Motley Fool Australia has recommended InvoCare 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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