Tag: Motley Fool

  • The Incitec Pivot (ASX: IPL) share price is up 18% in the past month. Here’s why

    share price rising

    The Incitec Pivot Ltd (ASX: IPL) share price has been quietly climbing in recent weeks. Shares in the Aussie manufacturer have climbed 18.2% higher in the past month while investors focus on the August reporting season.

    At the time of writing, the Incitec Pivot share price is up 1.07%, trading at $2.83.

    Why is the Incitec Pivot share price climbing?

    It’s been a couple of weeks since the last price-sensitive ASX announcement from the fertiliser and chemicals manufacturer.

    The most recent announcement was an investor market update on 29 July. Its shares climbed higher after the company announced a strong second-half performance. Firming commodity prices and a solid manufacturing performance were key factors behind the result.

    Incitec Pivot reported strong electronic detonator sales growth in its explosives segment as it targets technology-driven segment earnings growth of 10% by FY22.

    The Incitec Pivot share price also jumped 5.8% higher on 13 July after a positive manufacturing update.

    Incitec Pivot reported changes to its manufacturing model including a shift from global to regional management structures. The company said it would improve and drive delivery of its manufacturing operations, particularly while COVID-19 travel restrictions remain.

    The manufacturer also reported its Waggaman ammonia plant in Louisiana had restarted and reached full production.

    The news sent the Incitec Pivot share price soaring and kickstarted a strong month on the markets.

    A July 15 update on Incitec Pivot’s Range Gas Project joint venture with Central Petroleum Limited (ASX: CTP) drew a muted response. Central Petroleum reported all three wells in the pilot program had been operating continuously since pumping commenced on 14 June.

    The joint venture was also running a competitive tender process to select an infrastructure provider to deliver gas processing facilities required to support full-field development.

    The Incitec Pivot share price was subdued following the joint venture news. However, things have been good in the past month based on the recent strong gains.

    The post The Incitec Pivot (ASX: IPL) share price is up 18% in the past month. Here’s why appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Incitec Pivot right now?

    Before you consider Incitec Pivot, you’ll want to hear this.

    Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Incitec Pivot wasn’t one of them.

    The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

    *Returns as of May 24th 2021

    More reading

    Motley Fool contributor Ken Hall has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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  • How this ASX ETF is helping protect our school kids

    Girl studies remotely at home alongside cybersecurity concept

    ASX exchange-traded funds (ETFs) have seen their popularity in Australia soar over the past 5 years.

    And for good reason.

    Why the ETF market is growing Down Under

    ASX ETFs offer Aussie investors the means to invest – long or short – into various commodities with a single share purchase.

    They also provide the means to invest into multiple sector-specific companies, often listed on international exchanges.

    Today we throw the spotlight onto the Betashares Global Cybersecurity ETF (ASX: HACK).

    This ASX ETF offers investors exposure to 39 large-cap global cybersecurity shares. HACK doesn’t hold any Aussie shares at the moment. That’s because our homegrown cyber companies aren’t quite big enough.

    At least, not yet.

    HACK’s top 4 holdings are Zscaler, Crowdstrike Holdings, Accenture, and Cisco Systems.

    In an article I penned yesterday, I noted that cybersecurity shares led Saxo Market’s equity basket performance for the month of July.

    Although HACK’s share price is sliding in intraday trading today, down just under 1%, the ASX ETF has gained 30% over the past year.

    And with new reports of major hacks happening across the globe almost daily, cybersecurity companies will continue to find their services in high demand.

    How this ASX ETF is helping protect school kids

    You don’t have to look far to find hackers’ latest brazen efforts to steal or blackmail their way into ill-gotten fortunes.

    Unfortunately, the global pandemic did more than unleash a deadly virus across the globe.

    The shift to remote learning for kids also opened the door for hackers to spread virtual viruses throughout school and home computer networks.

    As Bloomberg reports, “Cyber criminals are targeting US schools at an increasing rate after remote learning during the pandemic left them more vulnerable to hacks”.

    While most schools in the United States are reopening at the end of August for the new school year, experts don’t believe the pace of hacks is likely to diminish.

    Keith Krueger is the CEO of Consortium for School Networking. According to Krueger:

    We see no evidence that this is abating. Criminals are having luck with it; they’re obviously having it with big cases we’re reading about every day. With back to school, we’re bracing ourselves for a real challenge this fall.

    Going by Bloomberg’s figures, US schools have borrowed roughly US$600 billion (AU$810 billion) in the bond market. Logically, some of the Wall Street bond investors are eyeing the ramp-up in hacks nervously.

    Daniel Barton is the head of tax-exempt bonds at Mellon. Among its US$25.9 billion in municipal assets, it owns school district debt. “Going to remote [learning] has really ramped up the level of cyberattacks. I don’t see this problem going away soon. There are so many bad actors,” Barton said.

    With 39 large-cap cybersecurity companies in its portfolio, HACK is certainly playing its part in helping protect school systems across the globe.

    But whether you’re looking to gain exposure to a basket of cybersecurity companies or wanting to track the price of gold without owning the actual metal, ASX ETFs are worth investigating.

    The post How this ASX ETF is helping protect our school kids appeared first on The Motley Fool Australia.

    Should you invest $1,000 in HACK right now?

    Before you consider HACK, you’ll want to hear this.

    Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and HACK wasn’t one of them.

    The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

    *Returns as of May 24th 2021

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    The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended BETA CYBER ETF UNITS. The Motley Fool Australia owns shares of and has recommended BETA CYBER ETF UNITS. 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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  • Is the NAB (ASX:NAB) share price in the buy zone after its Q3 update?

    two women looking intently at computer screen

    The National Australia Bank Ltd (ASX: NAB) share price is edging higher on Thursday following the release of its third quarter update.

    At the time of writing, the banking giant’s shares are up slightly to $27.24.

    This means the NAB share price is now up almost 19% in 2021.

    How did NAB perform in the third quarter?

    During the third quarter, NAB reported an unaudited statutory net profit of $1.65 billion and unaudited cash earnings of $1.70 billion.

    This was broadly in line with the average quarterly profit and cash earnings that it achieved during the first half of FY 2021.

    What was the reaction the update?

    The team at Goldman Sachs were pleased with NAB’s quarterly performance. It notes that the bank is trading ahead of its second half expectations.

    Goldman said: “NAB has released its 3Q21 trading update, with unaudited cash earnings from continuing operations of A$1.70 bn, up 1% on the previous period average, run-rating 11% ahead of what is implied by our current 2H21E forecasts.”

    “The better than expected performance is more than driven by BDDs [bad and doubtful debts] that are run-rating much lower than our current 2H21E forecasts.”

    “While headline PPOP [pre-provisioning operating profit] trends appear soft, this is largely on account of weak Markets and Treasury revenues (similar to CBA’s result yesterday), with core trends broadly consistent with our current forecasts, highlighting that the core bank at NAB is again growing.”

    The broker also notes that NAB’s CET1 ratio of 12.6% is running ahead of its forecasts as well.

    Is the NAB share price in the buy zone?

    According to the note, Goldman Sachs has a conviction buy rating and $30.34 price target on its shares.

    Based on the current NAB share price, this implies potential upside of 11% over the next 12 months before dividends. This stretches to approximately 16% including dividends.

    The post Is the NAB (ASX:NAB) share price in the buy zone after its Q3 update? appeared first on The Motley Fool Australia.

    Should you invest $1,000 in NAB right now?

    Before you consider NAB, you’ll want to hear this.

    Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and NAB wasn’t one of them.

    The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

    *Returns as of May 24th 2021

    More reading

    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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  • What’s the outlook for the Telstra (ASX:TLS) share price?

    map of australia with golden 5G sitting on it representing telstra share price profit result

    The Telstra Corporation Ltd (ASX: TLS) share price is up 4% at the time of writing after delivering its FY21 result to the market.

    Telstra said that on a reported basis, total income decreased by 11.6% to $23.1 billion and net profit grew 3.4% to $1.9 billion.

    On a guidance basis, underlying earnings before interest, tax, depreciation and amortisation (EBITDA) fell 9.7% to $6.7 billion. That included an in-year NBN headwind of around $650 million and an estimated $380 million financial impact from COVID-19. Excluding the in-year NBN headwind, underlying EBITDA in FY21 dropped $70 million.

    But FY22 has already started and it has provided guidance. The guidance can have an impact on the Telstra share price.

    What is Telstra expecting in FY22?

    Telstra said that its guidance shows the underlying business returning to full year growth.

    Total income is expected to be in a range of $21.6 billion to $23.6 billion in the new financial year.

    Underlying EBITDA is expected to be in a range of $7 billion to $7.3 billion (compared to $6.7 billion in FY21).

    The telco is expecting to spend $2.8 billion to $3 billion on capital expenditure. Free cashflow after lease payments is expected to be between $3.5 billion to $3.9 billion.

    One of the key ways that Telstra is looking to help its profit and the Telstra share price is its T22 strategy.

    Asset sales were part of the plan, with Telstra monetising its InfraCo Towers business by selling a 49% stake. It’s returning half of the net proceeds with a $1.35 billion to shareholders with a share buyback.

    Under the T22 strategy, it is driving productivity. Total operating expenses dropped 10.2% in FY21. Underlying fixed costs declined $490 million, or 8.1%, during FY21. Since FY16, the company has achieved around $2.3 billion of net productivity and remains on track to meet its target of $2.7 billion by the end of FY22.

    The company has reduced its number of roles by 8,300 net full time roles, meeting the T22 commitment one year early and also reducing 17,400 indirect roles and removing on average more than four management layers.

    Telstra’s focus

    The company has a number of initiatives that could help the Telstra share price and profit.

    In an interview with the Australian Financial Review, the Telstra CEO Andrew Penn said:

    I’d say three things – one is that it’s absolutely front and centre about continuing to transform customer experience and just taking that to the next level.

    Secondly, it’s about growth, both within the core but also some of our new business investments are really starting to help to get some traction.

    Obviously, we’re going to be launching energy, sort of imminently. And then it’s also about building on all of the capabilities and the foundations that we’ve laid in T22.

    Mr Penn also reference the telco’s recent acquisition of MedicalDirector for $350 million. This business currently supports around 23,000 medical practitioners and is used to deliver more than 80 million medical consultations a year. It is a GP clinical and practice management software company.

    Mr Penn also said:

    What we’re trying to do is we are focused on very much digitising and connecting different parts of the healthcare system.

    You would appreciate the healthcare system is highly fragmented, and it isn’t as efficient as it could be – it could be much more digitally enabled.

    The post What’s the outlook for the Telstra (ASX:TLS) share price? appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Telstra right now?

    Before you consider Telstra, you’ll want to hear this.

    Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Telstra wasn’t one of them.

    The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

    *Returns as of May 24th 2021

    More reading

    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 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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  • How to make the most of the CBA (ASX:CBA) share buyback

    CBA share price money laundering asx bank shares represented by large buidling with the word 'bank' on it

    Perhaps the S&P/ASX 200 Index (ASX: XJO) share making the biggest splash with its FY2021 earnings report this week has been Commonwealth Bank of Australia (ASX: CBA). The CBA share price surged to a new record high above $108 a share on Monday following the release of its FY21 numbers.

    That record high was extended just this morning, with CBA topping Monday’s high after hitting $108.92 a share just after market open.

    CBA shares closed at $103.41 last Friday. Because of this, we can say with tentative certaincy that this earnings report is largely behind this big push upwards.

    One of Monday’s centrepiece announcements from CBA was the initiation of a ~$6 billion share buyback program. Investors will also be receiving a final dividend of $2 a share next month. That will be a 33.3% increase on CBA’s last interim dividend.

    But for the buybacks, CBA shareholders can also now look forward to having their ownership stake in the company increased as CBA retires existing shares from the market.

    But just how much is this share buyback program worth to investors? And how can CBA shareholders extract the maximum benefit?

    CBA share price rises on $6 billion share buyback

    As my Fool colleague James covered well this morning, CBA’s share buyback program will result in the retirement of approximately 3.5% of all CBA shares outstanding.

    So how exactly will this benefit investors today?

    Well, firstly, it’s worth noting how a buyback actually benefits all investors. A company’s number of shares is fairly static. As such, reducing the total share count decreases the supply of available shares. This means that the real ownership stakes of all CBA shareholders increase.

    This is due to the fact that each shareholder now owns a proportionately larger stake in the company. Share buybacks also usually result in higher share prices due to the simple laws of supply and demand (less supply means higher pricing).

    Digging further though, and it seems this CBA buyback might benefit some shareholders more than others. Particularly those who are tax-exempt. An article from Livewire Markets broke down this dividend, and it makes for some interesting reading.

    Commonwealth Bank buyback delivers disporportionate benefits

    So according to livewire, CBA’s share buyback (which is available to all existing shareholders) will consist of a capital return of $21.66 per share. The remaining balance for each share will consist of a fully-franked dividend. A franking credit of $29.99 per share will be attached.

    Here’s how the article explained the benefit:

    For a tax-exempt Australian investor, we estimate the buy-back at a 14% discount would be worth approximately $121.63 (disregarding the time value of money), representing about $15.07 or 14% more than the market price of Commonwealth Bank today…

    The value of the buy-back for other investors will depend on the tax situation of each investor. At current prices, we would expect the buyback to be of marginal value for 15% tax rate Australian investors.

    So there you have it. The way this share buyback is structured could certainly give some outsized benefits to some investors out there. But don’t worry if that doesn’t apply to you. As we discussed earlier, a buyback substantially benefits existing shareholders too.

    The post How to make the most of the CBA (ASX:CBA) share buyback appeared first on The Motley Fool Australia.

    Should you invest $1,000 in CBA right now?

    Before you consider CBA, you’ll want to hear this.

    Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and CBA wasn’t one of them.

    The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

    *Returns as of May 24th 2021

    More reading

    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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  • Qantas (ASX:QAN) share price gains amid virtual travel pack

    Woman smiling while looking out of aeroplane window and listening to headphones

    The Qantas Airways Limited (ASX: QAN) share price is moving higher today. And now, you too can take off (or at least pretend to) with the airline’s new virtual offerings.

    Qantas has released a range of Zoom (NASDAQ: ZM) backgrounds and inflight playlists for travellers whiling their days away on video calls and wishing they were on holidays.

    The Qantas share price is gaining 0.33% amid the virtual accessories’ launch today. Shares in the airline are currently swapping hands for $4.51 apiece.

    Let’s take a closer look at the goodies Qantas released today.

    The next best thing

    The Qantas share price is in the green today, and many of its former flyers, particularly those suffering through COVID-19 lockdowns, might be pretending to be in the air.  

    Qantas has just released a series of “aviation-themed” backgrounds for use in Zoom meetings.

    The airline says the backgrounds will allow Australians to “conduct their meetings from the comfort of their business class seat, sitting behind the pilots in the cockpit jump seat, or from one of the Qantas luxury lounges”.

    Motley Fool Australia readers can take a look at the now-nostalgic images here.

    If those aren’t quite enough to make you feel like you’re 35,000 feet in the air, Qantas has also launched playlists decked out with its signature inflight tunes on Spotify and Apple Music.

    And in case you need more to quell the need for a holiday, wanderlusting travellers can pop on this YouTube video the airline has put together.

    [youtube https://www.youtube.com/watch?v=L0cU5uLBdsc?feature=oembed&w=500&h=281]

    The video showcases music by Australian composer Haydn Walker and guitarist Nathan Cavaleri, and features footage of iconic Australian landscapes from the air.

    While the offerings are most likely not boosting the airline’s share price today, Qantas group chief customer officer Stephanie Tully said they’re a fun way to reminisce on precedented times:  

    Our customers tell us they miss flying as much as getting to the destination itself and this sensory experience will help fill the temporary void while some of us can’t fly because of border closures.

    Qantas share price snapshot

    The Qantas share price is still in the red, despite today’s uptick.

    It has fallen about 8% since the start of 2021. However, it has gained 25% since this time last year.

    The post Qantas (ASX:QAN) share price gains amid virtual travel pack appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Qantas right now?

    Before you consider Qantas, you’ll want to hear this.

    Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Qantas wasn’t one of them.

    The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

    *Returns as of May 24th 2021

    More reading

    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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  • CBA’s bumper profit, IAG’s loss and Telstra expectations. Scott Phillips on Nine’s Late News

    Scott Phillips on Nine Late News 12 August 2021.

    Motley Fool Australia Chief Investment Officer Scott Phillips joined Nine’s Late News on Wednesday night to discuss the Commonwealth Bank of Australia (ASX: CBA)’s bumper profit growth, Insurance Australia Group Ltd (ASX: IAG)’s insurance challenges and what investors can expect from Telstra Corporation Ltd (ASX: TLS) earnings on Thursday.

    The post CBA’s bumper profit, IAG’s loss and Telstra expectations. Scott Phillips on Nine’s Late News appeared first on The Motley Fool Australia.

    Wondering where you should invest $1,000 right now?

    When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.

    *Returns as of May 24th 2021

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    Motley Fool contributor Scott Phillips owns shares of Telstra Corporation Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Insurance Australia Group Limited and 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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  • Why AGL, Appen, CBA, & Rio Tinto shares are tumbling lower

    shadow of a man looking out a window with arrows signifying falling share price

    In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is having a mixed time. At the time of writing, the benchmark index is trading slightly lower at 7,581.6 points.

    Four ASX shares that are falling more than most today are listed below. Here’s why they are tumbling lower:

    AGL Energy Limited (ASX: AGL)

    The AGL share price is down 5% to $7.20 following the release of its full year results. For the 12 months ended 30 June, the energy company reported a 10% decline in revenue to $10.9 billion and a 33.5% reduction in underlying profits to $537 million. This led to AGL cutting its dividend by 23.5% to 75 cents per share.

    Appen Ltd (ASX: APX)

    The Appen share price has fallen almost 5% to $11.76. This morning the artificial intelligence data services company announced the exit of its chairman. Current chairman, Chris Vonwiller, will be retiring from the role on 28 October. Mr Vonwiller has held the title of chair for a period of 12 years and was also CEO from 1999 to 2010.

    Commonwealth Bank of Australia (ASX: CBA)

    The CBA share price has dropped 2.5% to $105.50. This appears to have been driven by a couple of bearish broker notes. Citi has downgraded CBA’s shares to a sell rating and cut the price target on them to $94.50. Whereas Credit Suisse has downgraded its shares to an underperform rating with a $95.00 price target. Both brokers have reduced their near term earnings estimates to reflect higher costs.

    Rio Tinto Limited (ASX: RIO)

    The Rio Tinto share price has tumbled 7% to $120.32. This decline is almost entirely attributable to the mining giant’s shares trading ex-dividend this morning. Rio Tinto is paying its shareholders fully franked dividends totalling 760.06 cents per share. This comprises an interim dividend of 509.42 cents per share and a special dividend of 250.64 cents per share.

    The post Why AGL, Appen, CBA, & Rio Tinto shares are tumbling lower appeared first on The Motley Fool Australia.

    Wondering where you should invest $1,000 right now?

    When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.

    *Returns as of May 24th 2021

    More reading

    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 Appen Ltd. The Motley Fool Australia owns shares of and has recommended Appen 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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  • Charger Metals (ASX:CHR) share price is powering 28% today, up 240% in a month

    share price gaining

    The Charger Metals NL (ASX: CHR) share price is continuing its impressive run since last week. In just 6 trading days, the lithium-focused minerals company has gained an astonishing 142% for investors.

    At the time of writing, Charger Metals shares are up 28.95% to 73.5 cents. When you compare that to the All Ordinaries Index (ASX: XAO), the All Ords is just flat at 7,857 points.

    What’s driving the Charger Metals share price higher?

    While no news came out of the company today, investors may be wondering what’s causing its shares to power ahead.

    Before market open yesterday, Charger Metals released a statement to the ASX providing an update on its Bynoe Lithium Project.

    The company advised that exploration activities have commenced, with field crews mobilised to expand mapping and geochemical sampling. So far, 14 pegmatite anomalies have been identified within a 5-kilometre-long zone from existing geochemistry results.

    It’s worth noting that 50% of the tenement has not yet been geochemically sampled. At the end of August, a detailed aeromagnetic survey will be flown to provide more clarity on the spodumene deposits.

    Charger Metals managing director, David Crook said:

    Charger Metal’s programmes of mapping, geochemistry and aero-magnetics now underway at the Bynoe Lithium Project are designed to refine the 5-kilometre-long cluster of lithium targets to a point where a substantial drilling programme can be planned.

    Quick take on Charger Metals

    Founded in 2020, Charger Metals is an Australian-based minerals company that operates in Western Australia and the Northern Territory.

    The company owns a 70% interest in the Bynoe Lithium Project, with the remaining 30% held by Lithium Australia NL (ASX: LIT). The site is located within the Bynoe Pegmatite Field forming part of the much larger Litchfield Pegmatite Belt in Northern Territory.

    Charger Metals also has majority interests in the Coates Project and the Lake Johnston Lithium and Gold Project, both in Western Australia.

    Since listing on the ASX boards on 9 July, the Charger share price has gained almost 270%. In the past month alone, the company’s shares are up 240%.

    The post Charger Metals (ASX:CHR) share price is powering 28% today, up 240% in a month appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Charger Metals right now?

    Before you consider Charger Metals, you’ll want to hear this.

    Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Charger Metals wasn’t one of them.

    The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

    *Returns as of May 24th 2021

    More reading

    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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  • Why the BlueScope Steel (ASX:BSL) share price hit a 52-week high today

    workers jump in air at steel factory

    The BlueScope Steel Limited (ASX: BSL) share price continues its hot run into the money after setting a new 52-week high in afternoon trading.

    As a result, BlueScope steel shares set their new 52-week high today, topping previous highs in July and back in May.

    There is no market sensitive information released today. Nonetheless, let’s capture the tailwinds behind the BlueScope Steel share price of late.

    What has BlueScope been up to lately?

    BlueScope released its preliminary unaudited results on 27 July for the second half of FY21. In it, the steel producer expects a record result for the period to 30 June 2021.

    As a result, it upgraded its earnings before interest and tax (EBIT) forecast to $1.19 billion for the second half and $1.72 billion for FY21.

    Moreover, BlueScope’s Australian steel products (ASP) arm “delivered substantially better results”, by growing approximately 60% this year to date.

    Accordingly, sales volumes reached a total of 1.3 million tonnes at ASP, which is the highest level since 2008.

    In addition, investor sentiment has been positive for the BlueScope Steel share price over the last few months.

    To illustrate, BlueScope shares hit their previous record high on 27 July, after a run of bullish momentum.

    Further, whereas the S&P/ASX 200 Index (ASX: XJO) has posted a return of around 4.3% over the past month, BlueScope shares have climbed a further 16.5% into the green over this time.

    Given this trot up north on the charts, it stands to reason that the current investor sentiment on BlueScope shares is bullish. Another point to consider is, that BlueScope shares are now trading in an uptrend that started in March 2020.

    BlueScope Steel share price snapshot

    The BlueScope Steel share price has posted a return of 42% over the year to date, extending the previous 12 month’s climb of 100%.

    These returns have outpaced the broad index’s gain of around 25% over the past year. At the time of writing, BlueScope has a market capitalisation of $12.2 billion.

    The post Why the BlueScope Steel (ASX:BSL) share price hit a 52-week high today 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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