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Two leading ASX growth shares have revealed a lot of growth today.

Some businesses are doing it tough during COVID-19, but others are experiencing elevated levels of growth.

These two are seeing strong growth:

Volpara Health Technologies Ltd (ASX: VHT)

The Volpara share price is up more than 1% after it released a quarterly update.

It said that it achieved record quarterly cash receipts of NZ$6.4 million, an increase of 30% (and 50% in constant currency). Subscription-based receipts rose by 38% (and 60% in constant currency) to NZ$6.1 million.

Net operating cash outflow in the first quarter was NZ$3.2 million, an improvement of 20% year on year. The business finished the period with NZ$29.1 million of cash.

Volpara’s market share of women being screened improved by a percentage point, from 32% to 33%. Its average revenue per user (ARPU) was US$1.42, with the average ARPU in the first quarter of US$1.55 – this was driven by multiple, single profit, large volume deals. The ASX growth share also said its client churn continues to remain low.

The Volpara Group CEO Dr Ralph Highnam said:

Q1 is typically one of our weaker quarters given the US summer, but we’ve turned in another solid set of sales numbers, and we’re particularly pleased with hitting the 33% landmark of total US women screened. The merger with CRA Health is exceeding expectations and continues to go well, with integration of all.

Temple & Webster Group Ltd (ASX: TPW)

The Temple & Webster share price is currently up around 7.5% after revealing its FY21 result numbers.

It said that it saw a record year for revenue profit and customers. Revenue rose 85% year on year to $326.3 million. The trade and commercial division experienced revenue growth of 110% year on year. Temple & Webster’s earnings before interest, tax, depreciation and amortisation (EBITDA) surged 141% to $20.5 million.

The ASX growth share revealed that it saw revenue per active customer increase by 12% year on year due to customers repeating more often and spending more when they do. Active customers went up by 62% over the year to 778,000.

Temple & Webster’s fourth quarter maintained “strong” sales growth year on year at 26%.

FY22 has seen revenue grow by 39% year on year for the period of 1 July to 24 July 2021.

The Temple & Webster CEO Mark Coulter said:

While lockdowns during FY20 and FY21 have accelerated the underlying shift from offline to online, pleasingly we continue to see strong growth even when comparing against COVID impacted numbers.

While the start of FY22 has been difficult for many Australians, we remain focused on delivering a great experience for our customers, built around the biggest and best range of furniture and homewares, combined with inspirational content and services and a great delivery experience and customer service.

The post 2 top ASX growth shares reporting strong growth appeared first on The Motley Fool Australia.

More reading

• Temple & Webster (ASX:TPW) share price charges 7% higher on strong FY 2021 result
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• Why is the Temple & Webster (ASX:TPW) share price up over 3% today?

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 Temple & Webster Group Ltd and VOLPARA FPO NZ. The Motley Fool Australia owns shares of and has recommended VOLPARA FPO NZ. The Motley Fool Australia has recommended Temple & Webster Group 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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The Freelancer Ltd (ASX: FLN) share price woke up to a rude awakening today, following the release of the company’s half-year results.

At the time of writing, shares in the global freelancing and outsourcing marketplace have tumbled 15.93% to 95 cents.

Why is the Freelancer share price down double digits?

Freelancer revealed 1H21 group net revenue had tipped 5.7% lower on the prior corresponding period (pcp) to $27.8 million.

The slight decline in revenue was underpinned by weak currency movements. This drove a negative impact of 17.4% in the first half.

This trickled down to both negative operating earnings before interest, taxes, depreciation, and amortisation (EBITDA) and operating net profit after tax of -$2 million and -$1.6 million respectively.

The company’s net operating cash flow also declined from $6.2 million in 1H20 to $2.7 million in 1H21.

The weaker financial performance could be a reason why the Freelancer share price is experiencing such a heavy sell-off this morning.

Despite a slight decline in revenue, the company experienced a record in gross payment volumes (GPV), the total payments to Freelancer for products and services transacted. 1H21 GPV came in at a record $566 million, up 35.9% on the pcp.

Pleasingly, the company believes it is on track to achieve its milestone of $1 billion in GPV (through bank accounts).

In addition, Freelancer maintained a solid cash and cash equivalent position of $31.8 million. This was down $2.5 million or 7.4% on 31 December 2020.

The decrease includes the $4 million used to acquire Australia’s largest online heavy haulage freight marketplace, Loadshift.

A closer look at today’s sell-off

The sharp sell-off in the Freelancer share price comes off the back of significant trading volume.

Approximately 540,000 shares changed hands in the first 30 minutes of trade. To add some perspective, the company’s 10-day average volume is only 139,500.

The post Freelancer (ASX:FLN) share price dives 16% after first-half results appeared first on The Motley Fool Australia.

More reading

• Here’s why the Freelancer (ASX:FLN) share price is surging 7% today

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 recommended Freelancer 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 IGO Ltd (ASX: IGO) share price is moving higher in morning trade, up 1.57%.

Below, we take a look at the ASX resource share’s acquisition announcement.

What did IGO announce?

The IGO share price is gaining after the company reported it has entered into a binding agreement to acquire 100% of the Silver Knight nickel-copper-cobalt sulphide deposit from the Creasy Group.

IGO also said it is forming a joint venture (JV) with the Creasy Group across a portfolio of exploration tenements surrounding Silver Knight, in which it will have a 65% stake and Creasy Group will own 35%. Silver Knight is located in Western Australia.

The total cash consideration for both transactions was reported to be $45 million. Completion of the transaction is expected by the first week of October.

Commenting on the acquisitions IGO’s CEO, Peter Bradford said:

We are pleased to have concluded this agreement with Creasy Group to acquire Silver Knight and the additional joint venture tenure. The Silver Knight discovery not only validated the potential for the Fraser Range to host multiple commercial nickel-copper sulphide deposits but also provides a secondary source of feed for the Nova processing plant.

Bradford added that the company aims to “fast track the detailed assessment and permitting of Silver Knight” with an eye to start pre-mining activity by 2023.

IGO plans an infill drilling program at Silver Knight after the transaction is finalised. It will also work on receiving a Native Title mining agreement and the needed regulatory approvals. The company said it will communicate its updated resource and reserve estimates to the market once work is completed.

IGO share price snapshot

Over the past 12 months, IGO’s share price has gained 64%. By comparison the S&P/ASX 200 Index (ASX: XJO) is up 23% over that same time.

Year-to-date the IGO share price has continued to outperform, up 35%.

The post Why the IGO (ASX:IGO) share price is moving higher today appeared first on The Motley Fool Australia.

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• 5 things to watch on the ASX 200 on Tuesday
• ASX lithium shares could get boost from Macquarie (ASX:MQG) upgrade

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 BlueScope Steel Limited (ASX: BSL) share price is on the move today following the steel producer’s business update.

At the time of writing, BlueScope shares are up 2.59% to $23.55. It’s worth noting the company’s share price hit a record high of $24.05 during market open.

How did BlueScope perform in FY21?

Investors appear buoyed by the company’s latest news to the ASX, sending the BlueScope share price into uncharted territory.

According to its release, BlueScope is expecting a record second-half result for the six months ending 30 June 2021.

The group expects preliminary unaudited FY21 underlying earnings before interest, tax, depreciation and amortisation (EBITDA) to be around $1.72 billion. The second half is estimated to contribute roughly $1.19 billion to the strong result. This compares to a prior guidance of $1 billion to $1.08 billion for EBITDA.

BlueScope highlighted two of the biggest contributing factors to its performance since its late April market update. They included:

• An increase in hot-rolled coil (HRC) steel prices in the United States Midwest benchmark, surpassing forecasts and positively impacting realised spreads at North Star and the North American coated business; and
• A stronger than expected demand and realised spreads in Australia and New Zealand.

The company noted Australian Steel Products (ASP) jumped roughly 60% compared to H1 FY21. It revealed demand for domestic construction, distribution and manufacturing continued to surge, particularly for coated and painted products.

BlueScope stated that at North Star, realised spreads were significantly stronger. This led to a preliminary second-half record of underlying earnings before interest and taxes (EBIT) of approximately $600 million.

The Building Products Asia and North America segment also grew, up 20% on H1 FY21. Again, this was predominantly from the North American coated business and increased steel prices.

New Zealand and Pacific Islands’ performance improved by 25% on the prior period. Strong domestic demand and higher realised steel prices more than offset the higher energy costs encountered.

Management commentary

BlueScope managing director and CEO Mark Vassella said:

This is an outstanding result – our best underlying EBIT performance since demerger in 2002. The business has gone from strength to strength in the second half of FY21 and all operating segments have delivered significantly better results than FY20.

The results reflect the positive macroeconomic environment with strong demand for our products, and the quality of our diverse portfolio. While the COVID challenge remains, our performance is a great tribute to the professionalism and dedication of the entire BlueScope team who have operated with great resilience through the pandemic.

BlueScope is planning to release its audited full-year FY21 financial results on 16 August 2021.

About the BlueScope share price

Looking at the past 12 months, BlueScope shares have continued their impressive run to post an all-time high of $24.05 today. The company’s share price has come a long way from when it was trading for as little as $8 last year.

On valuation grounds, BlueScope has a market capitalisation of $11.5 billion, making it the 43rd largest company on the ASX.

The post Why the BlueScope (ASX:BSL) share price hit a record high today appeared first on The Motley Fool Australia.

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Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’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 Dubber Corp Ltd (ASX: DUB) share price is off to a weak start on Tuesday after the company successfully completed its $110 million capital raising.

At the time of writing, the Dubber share price is down 6.56% to $2.99.

Why the Dubber share price is sliding lower on Tuesday

Dubber successfully raised approximately $110 million from institutional investors in Australia and overseas at a price of $2.95 per share.

The new shares were offered at a 7.8% discount to the last closing price of $3.20.

According to today’s announcement, the new shares will be issued in two tranches.

Tranche 1 will see 33 million shares settled on Friday, 30 July.

While Tranche 2 of 4.2 million shares will be issued subject to shareholder approval at a general meeting on Thursday, 2 September.

The size and discount of the capital raising is likely a factor weighing on the Dubber share price on Tuesday.

What did management say?

Dubber CEO Steve McGovern thanked the company’s shareholders and partners.

We have been gratified by the strong response to the placement, with existing and new investors supporting our vision.

McGovern also commented on the use of funds, saying:

Dubber has a very unique opportunity in front of it to not only become one of Australia’s leading technology companies, but a true global leader in our field. The success of this capital raising will allow us to significantly accelerate our growth objectives, advance M&A opportunities and continue developing Dubber to capture the substantial global opportunity ahead of us.

M&A strategy

Despite the Dubber share price tumbling lower on Tuesday, the company has outlined ambitious plans to drive growth.

In the medium term, Dubber hopes to lift its annual recurring revenue from its current $39 million to $100 million.

Dubber outlined that “active opportunities in M&A expected to drive to conclusion in the coming two quarters”.

The company said that this would add to factors including like-for-like revenue, fast track Dubber product aspirations and product differentiation, and drive technology to increase subscription revenue through new functionality.

The post Dubber (ASX:DUB) share price slides 7% after successful $110 million capital raising 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. owns shares of and has recommended Dubber Corporation. The Motley Fool Australia owns shares of and has recommended Dubber Corporation. 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 has been a strong performer on Tuesday morning.

In early trade, the dendrimer products developer’s shares are up 7% to $1.35.

Why is the Starpharma share price racing higher?

Investors have been bidding the Starpharma share price higher today after it provided another update on its SPL7013 antiviral agent.

According to the release, new antiviral testing demonstrates that SPL7013 has potent virucidal activity against the Delta variant of COVID-19.

The release explains that SPL7013, which is the antiviral agent in Starpharma’s Viraleze nasal spray, reduces infectivity of the virus by >99.99% after 30 seconds of exposure.

Management notes that the Delta variant of COVID-19 is believed to be the most transmissible variant yet. It has spread to at least 102 countries worldwide resulting in multiple outbreaks in Australia, Europe, India, Indonesia, Japan, the UK, and the US.

In addition, the company revealed that testing confirmed potent virucidal activity of SPL7013 against the closely related Kappa COVID-19 variant as well.

This bodes well for Starpharma, which has registered its Viraleze antiviral nasal spray for sale in Europe and India, and in certain markets via online channels. Viraleze is also partnered with LloydsPharmacy in the UK, and Starpharma is in advanced discussions with potential commercial partners in India, Europe, and multiple other regions.

Starpharma’s CEO, Dr Jackie Fairley, commented: “We are very pleased to confirm the rapid virucidal activity of SPL7013, with greater than 99.99% reduction of infectious virus in just 30 seconds against the Delta variant. The Delta variant continues to challenge public health responses worldwide – most recently triggering lockdowns and emergency restrictions in Australia, Japan, and Indonesia.”

“SPL7013, the active in Viraleze, has a deep pedigree as an antiviral compound, with consistent and compelling broad-spectrum activity against multiple respiratory viruses and now multiple variants of SARS-CoV-2,” she added.

The post Why the Starpharma (ASX:SPL) share price is racing 7% higher today appeared first on The Motley Fool Australia.

More reading

• Endeavour (ASX:EDV) share price falls amid reports of ACCC’s concerns
• Here’s how the Macquarie (ASX:MQG) share price has performed against the financial sector
• Temple & Webster (ASX:TPW) share price charges 7% higher on strong FY 2021 result
• Why the OZ Minerals (ASX:OZL) share price is jumping 10% on Tuesday
• Oil Search (ASX:OSH) share price rises on solid Q2 update

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 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 Endeavour Group Ltd (ASX: EDV) share price is down today amid reports the Australian Competition & Consumer Commission (ACCC) is keeping a close eye on the company’s acquisitions.

The competition watchdog is reportedly monitoring the liquor, hotel, and gambling giant’s plans to grow its portfolio of hotels.

Right now, the Endeavour share price is $6.45, 0.46% lower than its previous closing price.

Let’s take a closer look at today’s news on Endeavor.

ACCC eyes Endeavour

The Endeavour share price has slipped today while reports swirl the watchdog is making note of the company’s growth.

According to reporting by the Australian Financial Review (AFR), the company is aiming to grow through acquisitions of hotels and bottle shops.

However, the ACCC is keeping an eye on such acquisitions due to Endeavour’s existing hold on the market.

Jarden analyst Ben Gilbert told the publication he estimates Endeavour has ownership of around 40% of Australia’s retail liquor market.  

The company operates nearly 250 Dan Murphy stores, close to 1,400 BWS stores, and more than 330 licensed venues. It also owns a range of business-to-business and online liquor stores.

According to the AFR, gambling reform advocate Stephen Mayne wrote to the ACCC with concerns over Endeavour’s acquisition of Terrey Hills Tavern in Sydney’s north.

The ACCC reportedly replied to Mayne, saying it’s keeping an eye on Endeavour’s acquisitions in the liquor market.

The publication also stated the ACCC is in discussions with Endeavour over concerns of the company’s impact on competition.

Endeavour share price snapshot

After experiencing a slow start to its time on the ASX, the Endeavour share price has recovered and is now tracking upwards.

Endeavour shares are now trading for 7% more than when they listed on 24 June.

The company has a market capitalisation of around $11.6 billion, with approximately 1.7 billion shares outstanding.

The post Endeavour (ASX:EDV) share price falls amid reports of ACCC’s concerns 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 Macquarie Group Ltd (ASX: MQG) share price has performed reasonably well so far this year, but how does it stack up against its peers in the financial sector.

Often dubbed the fifth-biggest bank, Macquarie is 14.7% higher than where it was at the beginning of 2021. That means shareholders can happily say they’ve outperformed the S&P/ASX 200 Index (ASX: XJO) so far this year.

However, when it comes to the financial sector, Macquarie has been outpaced.

ASX financial shares comparison

ASX-listed shares in the financial sector have had a stellar year in 2021. The only sector currently exceeding its gains is the discretionary sector. Though, the Macquarie share price hasn’t led the pack. In fact, it finds itself on the fourteenth run of the ladder for the year so far.

Making the podium finish is AUB Group Ltd (ASX: AUB), Zip Co Ltd (ASX: Z1P), and Westpac Banking Corp (ASX: WBC). These three shares have gained 40.1%, 28.5%, and 27.1% respectively.

Other ASX shares topping Macquarie in 2021 include Commonwealth Bank of Australia (ASX: CBA), HUB24 Ltd (ASX: HUB), and National Australia Bank Ltd. (ASX: NAB).

Meanwhile, two of the worst-performing shares in the sector include Omni Bridgeway Ltd (ASX: OBL) and AMP Ltd (ASX: AMP). The share prices of these two companies have fallen by 20.2% and 31.1%.

What about the Macquarie share price?

It was a soft start to the year for the Macquarie share price, falling ~6% in January. This was quickly reversed in February after the company posted its third-quarter results.

Notably, the investment bank’s annuity businesses’ quarter net profit contribution was up on the prior corresponding period.

The Macquarie share price continued to rally throughout March and April as it approached its FY21 results. In this result, Macquarie disclosed a 10% increase in net profit to $3.02 billion. Additionally, the bank announced a juiced-up dividend of $3.35 per share – up 86.1%.

Lastly, July has been a good month for the Macquarie share price. Analysts at Morgan Stanley retained their overweight rating on the investment bank this month. Additionally, the broker maintained its $175 price target.

The post Here’s how the Macquarie (ASX:MQG) share price has performed against the financial sector appeared first on The Motley Fool Australia.

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Motley Fool contributor Mitchell Lawler owns shares of Commonwealth Bank of Australia and Macquarie Group Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Hub24 Ltd and ZIPCOLTD FPO. The Motley Fool Australia owns shares of and has recommended Macquarie Group Limited. The Motley Fool Australia has recommended Austbrokers Holdings Limited and Hub24 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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The Temple & Webster Group Ltd (ASX: TPW) share price is charging higher this morning.

In early trade, the online furniture and homewares retailer’s shares are up 7% to $12.43.

Why is the Temple & Webster share price charging higher?

The catalyst for the rise in the Temple & Webster share price on Tuesday has been the release of its unaudited full year results which revealed record revenue, profits, and customer numbers.

For the 12 months ended 30 June, the company reported an 85% increase in revenue to $326.3 million. This comprises first half revenue of $161.6 million and second half revenue of $164.7 million.

As expected, the company’s operating margins narrowed during the second half as management invests to capitalise on strong e-commerce growth.

This led to earnings before interest, tax, depreciation and amortisation (EBITDA) coming in 141% year on year at $20.5 million. This represents an EBITDA margin of 6.3%, down from ~9.2% during the first half.

A key driver of its growth in FY 2021 was another strong increase in customer numbers. At the end of the period, Temple & Webster’s active customers were up 62% year on year to 778,000. This means the company added 100,000 new active customers in the second half of the financial year.

Also supporting its sales growth was a 12% increase in average revenue per active customer and increased repeat purchasing.

Management commentary

Temple & Webster’s CEO, Mark Coulter, commented: “Once again Temple & Webster has delivered a record result. Revenue grew 85% across the year driven by strong growth in new and repeat customers and average order values. While lockdowns during FY20 and FY21 have accelerated the underlying shift from offline to online, pleasingly we continue to see strong growth even when comparing against Covid impacted numbers.”

“While the start of FY22 has been difficult for many Australians, we remain focused on delivering a great experience for our customers, built around the biggest and best range of furniture and homewares, combined with inspirational content and services and a great delivery experience and customer service,” added Mr Coulter.

FY 2022 trading update

Also giving the Temple & Webster share price a boost today was management’s update on its performance early in FY 2022.

The release explains that FY 2022 has started strongly with year on year revenue growth of 39% for the period 1 July to 24 July.

Management also advised that the company continues to experience strong tailwinds. This includes the ongoing adoption of online shopping due to structural and demographic shifts, an acceleration of these trends due to COVID-19, an increase in discretionary income due to travel restrictions, and strong housing market growth.

Looking ahead, the company intends to continue its reinvestment strategy, investing into growth areas of the business to grow its online market leadership position. This is part of its ultimate goal of becoming the largest retailer (online and offline) for furniture and homewares in Australia.

The post Temple & Webster (ASX:TPW) share price charges 7% higher on strong FY 2021 result appeared first on The Motley Fool Australia.

More reading

• 3 reasons why the Temple & Webster (ASX:TPW) share price could be a buy
• 2 top ASX tech shares rated as buys by brokers
• These are the 10 most shorted ASX shares
• Why is the Temple & Webster (ASX:TPW) share price up over 3% today?
• 3 ASX shares growing at a rapid rate

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 Temple & Webster Group Ltd. The Motley Fool Australia has recommended Temple & Webster Group 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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The OZ Minerals Limited (ASX: OZL) share price has been a very strong performer on Tuesday morning.

At the time of writing, the copper producer’s shares are up a sizeable 10% to $24.19.

Why is the OZ Minerals share price jumping?

Investors have been driving the OZ Minerals share price higher today following the release of its second quarter update.

According to the release, the company achieved copper production of 32,681 tonnes and gold production of 57,875 ounces during the three months.

This means OZ Minerals is on course to achieve its copper production guidance of 120,000 to 145,000 in FY 2021. And positively, its gold production has been stronger than expected, leading to management increasing its guidance to 205,000 to 228,000 ounces in FY 2021. This compares to its previous guidance of 190,000 to 215,000 ounces.

This ultimately led to the company reporting first half net revenue of $986 million. This leaves OZ Minerals with an unaudited closing cash balance of $134 million and zero debt.

Better costs

Another positive boosting the OZ Minerals share price today was its cash costs. The company reported C1 cash costs of US$60.70 per pound for the quarter. This better than expected performance has led to management reducing its FY 2021 C1 cash costs guidance by US$5 per pound to US$65 to US$75 per pound.

OZ Minerals’ Managing Director and CEO, Andrew Cole, commented: “A strong second quarter from our major South Australian operations and favourable copper prices saw us finish the half in a robust financial position with a cash balance of $134 million and our corporate debt facility fully repaid from operating cashflow.”

“Full year group copper production guidance remains on track notwithstanding a lowering of annual guidance in the Carajás, Brazil, which has been impacted by direct and flow-on effects of COVID-19. Group C1 cash costs guidance has been lowered for the year, primarily due to higher by-product credits associated with expected higher gold production at Prominent Hill,” he added.

The post Why the OZ Minerals (ASX:OZL) share price is jumping 10% on Tuesday appeared first on The Motley Fool Australia.

More reading

• Which ASX 200 shares helped deliver record profits and a 4.5% dividend?
• 5 best ASX 200 mining and resource shares of financial year 2021
• 29Metals (ASX:29M) slips on biggest ASX mining debut in a decade
• These were the worst performing ASX 200 shares in June
• How Saxo Market’s Q3 outlook is good news for ASX copper shares

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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