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The Nickel Mines Ltd (ASX: NIC) share price is the worst performer on the S&P/ASX 200 Index (ASX: XJO) on Wednesday.

In early afternoon trade, the nickel producer’s shares are down 7% to $1.09.

Why is the Nickel Mines share price sinking?

The catalyst for the weakness in the Nickel Mines share price today has been the release of its second quarter update.

According to the release, rotary kiln-electric furnace (RKEF) quarterly production came in at 10,143 tonnes of nickel metal for the period. This was up a modest 0.7% on its first quarter production.

Things were better for its sales volumes, with the company recording 10,735.7 nickel tonnes sold for the three months. This was up 4.7% from 10,257.1 nickel tonnes sold in the March quarter.

Combined with improved pricing, this underpinned an 8.7% quarter on quarter increase in sales to US$150.2 million.

However, due to an increase in its production costs, quarterly EBITDA only improved 0.2% quarter on quarter to US$50.8 million. This could be weighing on the Nickel Mines share today.

What happened?

Management notes that its increased operating cash costs were due to higher power and reductant costs as a result of rising thermal and coking coal prices. It notes that prices were up ~35% and ~70%, respectively, from the March quarter.

Nevertheless, it was pleased with the quarter and highlights that its EBITDA margin was lower than in March but ahead of historical averages. It believes this demonstrates the company’s ability to maintain strong levels of profitability in all commodity price environments.

Nickel Mines’ Managing Director, Justin Werner, said: “The June quarter was another busy quarter which again delivered consistent nickel production and strong free cash flow generation, despite some commodity cost pressures particularly regarding thermal and coking coal prices.”

Mr Werner also revealed that the third quarter has started strongly.

He concluded: “We have kicked off the September quarter with strong demand for NPI which is being reflected in a recent surge in prices and are pleased to report that our July contract NPI prices are as high as US$2,200/t above our weighted average contract pricing for the June quarter, with upside pricing momentum having continued since executing these most recent contracts.”

The post Why the Nickel Mines (ASX:NIC) share price is the worst performer on the ASX 200 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 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 share price of Google-parent Alphabet Inc (NASDAQ: GOOG) climbed higher in after-hours trade following the release of its second-quarter results.

At the time of writing, shares in the US tech giant are valued at US$2,735.93 apiece. Over the past 12 months, the Google share price has gained 82%. The company now holds a market capitalisation of US$1.8 trillion.

On that note, let’s dive deeper into the company’s latest results.

YouTube is the star of the show

Reporting after the US market closed last night, Google stunned analysts with its drastic growth in the second quarter.

The tech giant’s revenue and earnings per share knocked it out of the park. On the top line, Google reported US$61.88 billion in revenue versus estimates of US$56.16 billion. Meanwhile, earnings per share decimated estimates – coming to US$27.26 per share versus US$19.34 estimates.

While Google Search remains the company’s leading source of revenue, YouTube is the fastest-growing. According to the release, search revenue increased 68% year-over-year (YoY) to US$35.85 billion, whereas YouTube ads jumped 84% YoY to US$7 billion.

Google’s Chief Business Officer Philipp Schindler discussed YouTube’s performance on the earnings call.

YouTube is helping advertisers reach audiences they can’t find anywhere else. According to Nielsen’s Total Ad Ratings reach reporting, from Q4 18 to Q4 20 on average 70% of YouTube’s reach was delivered to an audience not reached by the advertisers in TV and media.

The company made no secret that its numbers have benefitted from the increased online activity, likely a result of the pandemic.

Our strong second-quarter revenues of $61.9 billion reflect elevated consumer online activity and broad-based strength in advertiser spend. Again, we benefited from excellent execution across the board by our teams.

Google Chief Financial Officer, Ruth Porat

Streaming comparison and Google share price snapshot

Investors might be interested to know that Google’s YouTube Ads revenue is hot on the tail of Netflix Inc (NASDAQ: NFLX)’s quarterly revenue. Netflix reported US$7.342 billion in revenue for the latest quarter, roughly US$300 million more than YouTube Ads.

However, Google’s “other revenues” of US$6.6 billion include YouTube’s non-ad revenue. That would include YouTube Premium — its monthly subscription service. Although, it is hard to tell how much of that revenue would be derived from the premium service itself.

Lastly, the US tech giant is valued on a price-to-earnings (P/E) ratio of 34.6 times. For comparison, Netflix trades on a 53.8 P/E multiple.

The post Google (NASDAQ:GOOG) share price climbs on blockbuster earnings appeared first on The Motley Fool Australia.

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• Now’s the time to buy up mega-cap tech shares

Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. Motley Fool contributor Mitchell Lawler has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Alphabet (A shares), Alphabet (C shares), and Netflix. The Motley Fool Australia has recommended Alphabet (A shares), Alphabet (C shares), and Netflix. 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 Atomo Diagnostics Ltd (ASX: AT1) share price is soaring today amid calls for the Australian government to approve rapid COVID-19 tests for personal use.

Atomo Diagnostics has partnered with Access Bio to create a rapid COVID-19 test. The test, named CareStart EZ COVID-19 test, has been approved for emergency use in the United States.

Right now, the Atomo Diagnostic share price is up 10%. The medical device company’s shares are trading for 23 cents apiece.

Let’s take a closer look at the news making headlines today.

Push for personal rapid COVID-19 tests

The Atomo Diagnostic share price is gaining amid reports state and federal governments are being lobbied to approve rapid COVID-19 tests for personal use.

According to reporting by News.com.au, the Victorian Transport Association’s CEO Peter Anderson is pushing for personal rapid tests to be available to allow truck drivers to travel freely between states.

Anderson is also calling for more testing stations to be created on the border between NSW and Victoria.

Currently, truck drivers entering Victoria must receive a COVID-19 test every 3 days despite the results sometimes taking 3 days to be returned.

Additionally, ABC Radio reported this morning that the New South Wales government will soon announce a roadmap for Sydney’s next 4 weeks of lockdown, which may include personal rapid COVID-19 tests.

Numerous publications have reported NSW year 12 students might be among those using personal rapid COVID-19 tests.

However, the Royal College of Pathologists of Australasia has criticised the idea, saying they’re not accurate enough to be useful.

Finally, according to ABC News, Australia’s Health Department stated the tests aren’t useful when there are low rates of COVID-19 circulating.

Market watchers might be particularly excited about the Atomo Diagnostic share price today. That’s because the company’s rapid COVID-19 test has already been approved for use in Australian aged care homes.

Atomo Diagnostics share price snapshot

Despite today’s boost, the Atomo Diagnostic share price is still firmly in the red.

Right now, the Atomo Diagnostics share price is down 29% year to date.

The company has a market capitalisation of around $113 million, with approximately 586 million shares outstanding.

The post Here’s why the Atomo (ASX:AT1) share price is soaring 10% appeared first on The Motley Fool Australia.

More reading

• Why the Nickel Mines (ASX:NIC) share price is the worst performer on the ASX 200 today
• Google (NASDAQ:GOOG) share price climbs on blockbuster earnings
• The Venture Minerals (ASX:VMS) share price has slipped today. Here’s why
• Raiz (ASX:RZI) share price rallies 8% on record quarterly results
• Why this fund likes these 3 top ASX shares

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 Venture Minerals Limited (ASX: VMS) share price has dropped in morning trade after starting today’s session in the green. At the time of writing, shares in the mining explorer are trading at 12.7 cents, down 2.3%.

Let’s take a look at what the company announced today and why investors appear undecided on the Venture Minerals share price.

Landholding acquisition

Earlier today, Venture Minerals updated the market on the company’s nickel-copper-platinum (Ni-Cu-PGE) landholding.

According to the update, Venture has expanded its Ni-Cu-PGE portfolio following the acquisition of a highly prospective tenure at the company’s Kulin Project.

Venture said it secured two highly prospective 20-kilometre-long Ni-Cu-PGE targets as part of the acquisition, effectively doubling the company’s Ni-Cu-PGE portfolio.

The Venture Minerals portfolio includes the South West Ni-Cu-PGE Project, currently joint-ventured with Chalice Mining Ltd (ASX: CHN).

Venture Minerals managing director Andrew Radonjic commented;

Venture has made some excellent acquisitions around the Kulin Project, which sees the company now control a highly sought-after ground position in close vicinity to the recently discovered Julimar Ni-Cu-PGE deposit.

Venture Minerals completes maiden drill program

In addition to the acquisition update, Venture Minerals also provided results from a maiden drill program at Kulin.

The results delivered a gold intersection with mineralised intervals to 18 metres @ 0.6 g/t gold (Au) from 329 metres. Higher grade zones were also found at 9 metres @ 1.2 g/t Au from 338 metres and 3 metres @ 3.4g/t Au from 341 metres.

More on Venture Minerals

Venture Minerals is a mining explorer that is looking to make the transition to producer.

The company has various operations including its Riley Iron Ore mine in northwest Tasmania and Tin-Tungsten Project at Mount Lindsay.

As noted previously, the company’s joint venture in Western Australia is the location of the South West Nickel-Copper-PGE Project. Chalice Mining has already committed up to $3.7 million to the project.  

Overall, the Venture Minerals share price has enjoyed a stellar year thus far. Since the start of 2021, shares in the mining explorer are trading more than 139% higher.

The post The Venture Minerals (ASX:VMS) share price has slipped today. Here’s why 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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Investors are bidding up the Raiz Invest Ltd (ASX: RZI) share price on Wednesday after the company released its June quarter results.

At the time of writing, the financial technology company’s share price is up 8.33% to $1.69.

Raiz share price rallies higher on record quarterly results

In the June quarter, Raiz achieved record results for global active customers, funds under management (FUM) and revenue.

Global active customers totalled 456,927 at quarter-end, an increase of 86.7% on the prior corresponding period (pcp). The company said that the increase was “in line with expectations on organic and paid acquisitions across geographies”.

The company delivered a 76.7% increase in normalised revenue to $3.6 million, underpinned by an increase in user maintenance fees, account fees and advertising revenues.

Raiz highlighted that its Australian businesses continue to operate on a cash-flow positive basis, with normalised revenue increasing 17.4% in the June quarter. This growth was supported by a similar uplift in Australian FUM, up 15.2% quarter-on-quarter to $799.6 million.

In addition, Raiz said that growth across its Indonesia and Malaysia businesses was meeting expectations, despite the resurgence of COVID-19 cases in both countries.

In the June quarter, active customers in Indonesia and Malaysia grew 17.2% and 19.6% respectively.

The company plans to continue to invest and grow in the region, revealing plans to expand into Thailand.

Superestate acquisition completion

Back in April, Raiz announced the acquisition of Superestate, a niche integrated superannuation and Australian residential property investment platform.

The acquisition will move $70 million of FUM in superannuation, 6,000 customers and a residential property fund onto the Raiz platform.

According to today’s announcement, the acquisition is expected to be complete on 28 July.

About the Raiz share price

The Raiz share price has rallied 79% year-to-date, with most of its gains occurring between January and February.

Raiz shares have mostly been moving sideways after hitting a record high of $2.20 on 16 February.

The post Raiz (ASX:RZI) share price rallies 8% on record quarterly results appeared first on The Motley Fool Australia.

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

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The listed investment company (LIC) Clime Capital Ltd (ASX: CAM) recently released its update for the period to June 2021. It has identified some ASX share opportunities. 

In the announcement, the LIC told investors about some the businesses that have done well for its portfolio and that it still sees a positive outlook for.

Clime looks for ASX shares across both large caps and small caps. Here are three that it referenced:

Mineral Resources Limited (ASX: MIN)

The Mineral Resources share price went up over 40% in the quarter ending 30 June 2021. Clime said it was supported by both an increase in iron ore prices and lithium prices.

It’s benefiting from the conditions for iron ore miners, both as an opportunity to provide mining services work as well as from iron ore mining in its own right.

Clime pointed out that a big challenge for Mineral Resources is that it needs to find workers to help its growth in both mining and mining service operations due to the border closures.

Even so, Clime has a “lot of confidence” in the management of the business and expects the labour shortage to be a short-term problem.

Goodman Group (ASX: GMG)

Goodman is another large cap ASX share. The Goodman share price increased around 18% over the quarter. It’s in the property space and released a “strong” operational update in May. Clime said that Goodman also benefited from a tightening of the 10-year bond yield.

The fund manager pointed out that the ASX share’s management affirmed guidance for 12% operating earnings per share (EPS) in FY21. There was also an upgrade of guidance of development work in progress (WIP) from $9 billion to $10 billion.

Clime said that the increased development activity will be supportive for earnings over the next two years and Clime believes that double digit profit growth for the company can continue.  

RPMGlobal Holdings Ltd (ASX: RUL)

This ASX share is a business that provides software to the mining industry. The RPMGlobal share price increased by around 30% in the three months to 30 June 2021 on the back of “solid” software sales momentum.

It added $19.9 million of total contract value (TCV) for subscription software sales for the quarter, bringing the total for FY21 to over $47.7 million.

Clime said that management have exceeded expectations in delivering on its strategy since 2018 to transition from a software license sales model to subscription software sales.

The ASX share’s annualised recurring revenue (ARR) from subscriptions increased 70% on FY20.

Clime believes the company is early in a long-term trend as miners increase IT adoption from current low levels. The fund manager estimated at the time of the update that RPMGlobal was priced at a “modest” seven times total FY22 software recurring revenue (subscriptions and maintenance fees), after adjusting for the net cash and consulting division valuation.

The post Why this fund likes these 3 top ASX shares appeared first on The Motley Fool Australia.

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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. owns shares of and has recommended RPMGlobal Holdings. The Motley Fool Australia has recommended RPMGlobal Holdings. 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 Boral Limited (ASX: BLD) share price has been largely flat this morning as it pushes through its last few days before Seven Group Holdings Ltd (ASX: SVW) takes control.

Seven Group’s takeover bid for Boral closes tomorrow night. It currently has 61.87% of the construction supplies company’s voting rights.

Right now, the Boral share price is $7.40, the same as it was at yesterday’s close. The $7.40 amount is also the price that Seven Group is paying for pieces of Boral.

Meanwhile, the Seven Group share price is down slightly. It’s currently $23.70, 0.17% lower.

But what does Seven Group want with Boral? Here’s a rundown of the rumours we’ve heard so far.

What Boral’s future might be

The Boral share price is flat amid reports it could be about to see a change to its upper management team.

According to The Australian, Seven Group CEO Ryan Stokes is planning to take over as chair of Boral’s board after the company officially wins control at 7pm on Thursday.

Additionally, the publication stated Richard Richards would be reinstated to Boral’s board. The Australian also speculated that a third Seven representative could be added to the board.  

Seven Group has declared it will retain a majority of independent directors on the Boral board.

Another publication claimed Seven Group didn’t actually want majority ownership of Boral. According to the Sydney Morning Herald, Boral was aiming for a maximum 40% hold in Boral.

That may check out, as Seven Group initially declared it would be happy to walk away from the takeover bid with a 30% holding in Boral.

The Sydney Morning Herald also claimed Boral’s CEO Zlatko Todorcevski could have had a target on their back.

However, days after the publication suggested Todorcevski’s future could be uncertain, both Todorcevski and Boral’s chief financial officer, Tino La Spina, were guaranteed job security. Removing them from their positions would be a costly exercise for Boral.

Boral share price snapshot

The Boral share price has had a good run this year.

It is currently 49% higher than at the start of 2021. It has also gained 89% over the last 12 months.

The company has a market capitalisation of around $8.1 billion, with approximately 1.1 billion shares outstanding.

The post Boral (ASX:BLD) share price struggles as Seven (ASX:SVW) waits to take over 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 Starpharma Holdings Limited (ASX: SPL) share price is deep in negative territory during early afternoon trade. This comes despite the healthcare company announcing an inclusion to its board.

At the time of writing, Starpharma shares are down 5.15% to $1.29.

Starpharma strengthens its board

A possible catalyst to the fall of Starpharma shares is the strong gains made the day before. It appears profit takers have swopped in after the company’s share price ended yesterday with a 7.94% increase.

In today’s statement, Starpharma announced that experienced finance executive, Lynda Cheng will join the board. The new addition will see Ms Cheng appointed as non-executive director from the beginning of next month.

Starpharma noted that Ms Cheng brings a wealth of knowledge, having served more than 25 years as a finance executive. This includes 15 years at recycling and cardboard box manufacturing giant, Visy Industries/Pratt Holdings, and 10 years in investment banking.

Currently, Ms Cheng is the director of Corporate Development and Mergers & Acquisitions at Visy Industries/Pratt Holdings. She has held various roles throughout her career there, with her most notable position as chief financial officer.

Furthermore, Ms Cheng is also a non-executive director at Export Finance Australia and a member of Wesley College Council.

Prior to this, Ms Cheng was a member of the Australian Government’s International Development Policy Expert Panel, as well as deputy chair and chair of the Finance, Audit and Risk Committee of South East Water.

Starpharma chair, Rob Thomas commented on Ms Cheng’s new title, saying:

We are delighted to welcome Lynda at an exciting time for the Company. Lynda brings broad commercial and international corporate expertise as well as an extensive professional network. She has deep experience in financial services, manufacturing, innovation, technology and new market entry.

The appointment of Ms Cheng will add further value to the Starpharma board. As such, Ms Cheng will join the Audit and Risk Committee upon her appointment.

Ms Cheng studied at the University of Melbourne and holds a Bachelor of Law (Honours) and Commerce degree majoring in actuarial studies and economics.

Starpharma share price review

Since hitting an all-time high of $2.52 in February 2021, Starpharma shares have moved on a downwards trajectory. Over the past 12 months, the company’s share price is up more than 10%, but down almost 20% year-to-date.

Starpharma commands a market capitalisation of roughly $517.7 million, with 406 million shares outstanding.

The post Starpharma (ASX:SPL) share price sinks 5% despite new board member appeared first on The Motley Fool Australia.

More reading

• Why the Starpharma (ASX:SPL) share price is racing 7% 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. owns shares of and has recommended Starpharma Holdings Limited. The Motley Fool Australia has recommended Starpharma Holdings Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Doctor Care Anywhere Group Plc (ASX: DOC) share price has slipped into the red in early trading on Wednesday. Today’s dip comes as the company released its quarterly results this morning.

Let’s examine Doctor Care’s results in a bit finer detail.

But first – a bit more on Doctor Care

Doctor Care has expertise in providing digital healthcare and telehealth services to patients.

It has a network of insurers, healthcare providers and corporate customers designed to connect with patients.

The company has a market capitalisation of $279 million at the time of writing.

Doctor Care’s quarterly results

The company recorded unaudited revenue of $8.9 million this quarter, a 78% year-on-year increase.

It also delivered 89,400 consultations across the quarter, a healthy expansion of 69% from the year prior.

Doctor Care’s “recruitment drive” also added 71 new GPs to its platform, with a further 100 in the pipeline.

As a result of these additions, the company hopes to provide “up to 45,000 appointment capacity” per month by the end of Q3.

Diagnostic referral volumes were also up 34% from the previous quarter and broad strengths were underlined by “continued demand as the UK economy unlocks”.

While people entitled to use the company’s services remained flat from the previous quarter at 2.4 million, its “activated lives” — or people signing up for the service — grew 12.7% quarter-on-quarter and 90% from the year prior.

Additional takeouts

With respect to guidance, Doctor Care reinstated its FY21 estimates of “revenue growth of at least 100% above FY 2020”.

For reference, Doctor Care recognised revenue of $11.6 million for the FY 2020 and made a loss of $31.3 million.

Commenting on the performance this quarter, Doctor Care CEO Dr Bayju Thakar stated:

Our outlook for 2021 remains positive following a robust performance in a quarter during which patient demand has continued to grow rapidly… Nevertheless, this has been a quarter of significant challenges as a result of the demand on GPs to deliver the national vaccination programme.

The company’s chair Jonathan Baines added:

The UK primary health care system will continue to remain under extreme pressure, contributing to significantly increased demand for our service as demonstrated by the growth in activated lives and record number of daily consultations this quarter. We remain confident in our guidance for year on year revenue growth of at least 100% above FY 2020.

However, investors seem to view the results unfavourably and are selling Doctor Care shares in droves this morning.

After earlier trading down ~11% on their opening price, Doctor Care shares are now changing hands for 80 cents, an 8.5% drop at the time of writing.

Doctor Care share price snapshot

The Doctor Care share price has posted a year to date loss of almost 34%, extending the previous 12 months’ loss of close to 15%.

These returns have lagged the S&P/ASX 200 Index (ASX: XJO)’s return of ~23% over the previous year.

The post Doctor Care (ASX:DOC) share price slides 11% after quarterly results appeared first on The Motley Fool Australia.

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• Starpharma (ASX:SPL) share price sinks 5% despite new board member
• The Pinnacle (ASX: PNI) share price hit an all-time high this week
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• Here’s why the Tesoro Resources (ASX:TSO) share price is tumbling 31% today

The author Zach Bristow has no positions in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Doctor Care Anywhere Group PLC. The Motley Fool Australia has recommended Doctor Care Anywhere Group PLC. 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 Pinnacle Investment Management Group Limited (ASX: PNI) share price is flying right now. After hitting a new all-time high to start the week, shares in the Aussie investment group have slipped lower on Wednesday.

However, based on the current Pinnacle share price of $12.47, the company’s value has soared 72.24% higher in 2021 and now sits at a market cap of $2.4 billion. Let’s take a closer look.

Why is the Pinnacle share price flying?

It may surprise some investors that there haven’t been many market updates from Pinnacle in recent times. But that hasn’t stopped people from snapping up shares and propelling the company’s value higher.

One important announcement came on 6 July in the form of a market update. It’s worth noting that Pinnacle makes a fairly significant chunk of money from performance fees, as well as standard investment fees amongst other things. That means any signs of increased returns or portfolio growth could see the Pinnacle share price climb higher.

In the market update, Pinnacle said 7 affiliates have locked in performance fees of $86 million for FY2021. That means the investment group’s net share of these fees is approximately $19.5 million. The Pinnacle share price climbed higher on the news as investors eye the $2.2 million net return on principal investment for FY2021 announced at the time.

The key here is that when the share market and economy are doing well, Pinnacle tends to do quite well. Performance fees surged higher in the first half of this year thanks to the post-bear market recovery across global markets.

An injection of cash via record government stimulus at home and abroad has also seen strong asset price inflation. That has translated to significant funds under management growth for Pinnacle which is once again good for investment management fees, on top of boosted returns.

As a result, the Pinnacle share price has been on fire in FY2021. Investors will be watching closely when Pinnacle provides its full-year results update on 5 August 2021 for signs of what’s in store next year.

The post The Pinnacle (ASX: PNI) share price hit an all-time high this week appeared first on The Motley Fool Australia.

More reading

• The Pinnacle (ASX:PNI) share price has gone up around 170% over the last 12 months
• 5 things to watch on the ASX 200 on Wednesday
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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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