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It’s been more than an interesting year on the charts for the Newcrest Mining Ltd (ASX: NCM) share price, which stand on the podium as one of the world’s largest gold producers.

The Newcrest Mining share price has taken a nosedive over the previous 12 months, sliding 23% into the red, over this time period.

Let’s dive in and see what happened to the Australian gold mining magnate.

The gradual walk down south from 2020

Turbulence in Newcrest’s share price was first observed back at the beginning of August 2020.

Newcrest shares begun to slide firmly into the red from 6 August, and although there was no market sensitive information for the company on that day, a week earlier the company did release its quarterly report.

In the statement, the company demonstrated it achieved FY20 guidance and was able to strengthen its balance sheet by refinancing its debt profile at a lower cost.

Moreover, the company stated its copper production had increased by 15% sequentially from March 2020.

Despite these updates, Newcrest shares transcended into the red, falling from a high of $36.80 to $31 by the beginning of September.

After a positive quarterly report released in September, the share price began to consolidate slightly, however then made a turn back south after the company’s presentation at the Credit Suisse conference.

This year in review for the Newcrest Mining share price

Since these 2 major announcements, the company’s share price has continued to slide further out of the money.

Each time Newcrest shares have shown signs of life over the past 12 months, this has been succeeded by further downward pressures on the market price.

On 11 February the company filed its half year results for FY21, which detailed its increase in operating performance and free cash flow conversion.

The company also mentioned it had targeted 30-60% of annual free cash flow to be paid in dividends, up from 10-30% a year prior.

In early March, the company announced it had refinanced its debt at more favourable terms, taking advantage of record low-interest rates.

Newcrest shares began to recover following this announcement and continued their climb to $28.64 by mid-April.

Then, on 5th May 2021, the company announced that Gerard Bond, Newcrest’s finance director and chief financial officer, would be resigning in January 2022, after 10 years in the role.

Following this, the share price began to work its way back down, where it has trended down slightly, to the current market price of $29.95.

Newcrest Mining share price snapshot

It has been a bumpy road for Newcrest shares over the last 12 months. Year to date, the company has dipped into the green by 0.66% but still lags the S&P/ASX 200 Index (ASX: XJO)’s year to date return of ~11%.

Newcrest shares are also 6% down on the month, and at the current market price, Newcrest has a market capitalisation of $21.4 billion and trades at a price-to-earnings ratio of 16.

The 52-week range exhibited is $23.08 – $38.15, and the company pays a 44 cents per share dividend, fully-franked, with a current yield of 1.7%.

The post It’s been a disappointing past year for the Newcrest (ASX:NCM) share price appeared first on The Motley Fool Australia.

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• 5 things to watch on the ASX 200 on Friday

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In early afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to end the week deep in the red. At the time of writing, the benchmark index is down 1.5%.

Four ASX shares that are not letting that hold them back are listed below. Here’s why they are pushing higher:

Althea Group Holdings Ltd (ASX: AGH)

The Althea share price is up 3% to 36 cents. Investors have been buying the cannabis company’s shares after it signed a manufacturing agreement with Delshen Therapeutics Corp. It is a wholly owned subsidiary of 48North Cannabis Corp, which is a Canadian cannabis licensed operator and brand marketer. According to the release, Althea’s Peak Processing Solutions business will manufacture four products for 48North’s Latitude brand with minimum order quantities of C$1.25 million.

Audinate Group Ltd (ASX: AD8)

The Audinate share price has jumped 6.5% to $9.19. This follows the release of a full year update by the audio over IP networking solution provider. That update reveals that Audinate achieved revenue of US$25 million in FY 2021. This was an increase of 23% from the US$20.4 million it achieved a year earlier. Audinate’s solid growth was driven partly by an extremely strong fourth quarter performance. During the three months ended 30 June, the company’s revenue increased 74% over the prior corresponding period.

Perenti Global Ltd (ASX: PRN)

The Perenti share price is up almost 3% to 75.5 cents. The catalyst for this was an announcement that the engineering company’s Barminco business has finalised a contract with Panoramic Resources Limited (ASX: PAN). The contract is for development and production works at the Savannah Nickel Project in the Kimberley region of Western Australia. The finalised contract represents a value of approximately $280 million over a four-year term.

Viva Energy Group Ltd (ASX: VEA)

The Viva Energy share price is up over 4% to $2.05. Investors have been buying the energy company’s shares following the release of a first half update. According to the release, Viva Energy had a very strong first half thanks to sales growth from its non-aviation businesses. It expects first half operating earnings of $390 million to $410 million. This will be an increase of 34% over the pre-pandemic levels of FY 2019.

The post Why Althea, Audinate, Perenti, & Viva Energy shares are pushing higher appeared first on The Motley Fool Australia.

More reading

• ASX 200 midday update: Afterpay & CBA sink, Viva Energy jumps
• Why the Althea (ASX:AGH) share price is charging higher today
• Audinate (ASX:AD8) share price jumps 6% on FY 2021 update
• Why Alkane, Audinate, Megaport, & Zip shares are rising today
• Top broker picks the emerging ASX tech shares with the biggest upside next month

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 AUDINATEGL FPO. The Motley Fool Australia owns shares of and has recommended AUDINATEGL FPO. 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 QEM Ltd (ASX: QEM) share price is soaring today after the company updated the market on its Julia Creek vanadium and oil shale project’s potential green hydrogen hub.

At the time of writing, the QEM share price is up 19.35%, with shares in the company trading for 18.5 cents apiece.

However, earlier today, shares in QEM were swapping hands for 25 cents – a whopping 56% higher than their previous close.

3.3 million shares in the company have swapped hands so far today. Let’s take a look at the news driving the excitement for QEM shares.

What’s driving the QEM share price today?

Today’s news from QEM regards its plans to create a green hydrogen hub in outback Queensland.

Green hydrogen is hydrogen created using renewable energy.

The company has received the first stage of its pre-feasibility study into the potential to generate electricity from solar and wind to power the project.

So far, it has found it can house a wind farm capable of producing 126 megawatts of electricity using 21 wind turbine generators.

Further studies will assess the site’s wind speeds and other factors pertaining to the windfarm’s viability.

The second stage of the QEM’s pre-feasibility study is underway. It will investigate the additional possibility of creating a solar farm.

Additionally, a $1.5 billion high voltage transmission line named Copperstring 2.0 is being built between Townsville and Mount Isa. It will run within 10 kilometres of Julia Creek and will allow QEM’s project access to Queensland’s electricity grid.

A green future

QEM also announced the findings of a report by Siecap, a project management consultant engaged with QEM’s project.

The report found global demand for green hydrogen will increase by 750% by 2050.

According to Siecap, by 2030 Australia’s green hydrogen export market will be worth $2.6 billion, driven by demand from Asia. The continent will account for 70% of global demand.

Siecap also reported the global market for green hydrogen will be worth US$12 trillion by 2050.

Commentary from management

QEM’s managing director Gavin Loyden commented on today’s news from the company, saying:

The results of the wind farm stage of the study brings QEM another step closer to becoming a pioneering Queensland producer of green hydrogen…

The hydrogen market report independently produced by Siecap further reinforces that our path towards green hydrogen, commencing with investment in on-site renewable energy generation, is the optimal one to deliver long-term value for QEM.

QEM share price snapshot

2021 has been a good year for the QEM share price, which has gained 111% year to date.

It is also 90% higher than it was this time last year.

The company has a market capitalisation of around $15.5 million, with approximately 100 million shares outstanding.

The post The QEM (ASX:QEM) share price is soaring 19% today appeared first on The Motley Fool Australia.

More reading

• It’s been a disappointing past year for the Newcrest (ASX:NCM) share price
• Why Althea, Audinate, Perenti, & Viva Energy shares are pushing higher
• The Zip (ASX:Z1P) share price is sinking today
• ASX 200 midday update: Afterpay & CBA sink, Viva Energy jumps
• Why the AML3D (ASX:AL3) share price is rocketing 10% today

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 Zip Co Ltd (ASX: Z1P) share price has spent all morning in the red, dumping more than 6% in today’s trading session.

After closing yesterday at $8.78, the Zip share price has see-sawed from $8.53 to as low as $8.21. At the time of writing, shares in the popular buy now, pay later (BNPL) provider are swapping hands for $8.32, a drop of 5.30%.

Let’s take a look at what happening with the company today.  

Zip share price tumbles with overall market

Zip has not released any price-sensitive news that could explain today’s bearish price action. It’s possible shares in the BNPL company could be feeling the effects of weakness in the overall market.

At the time of writing, the S&P/ASX 200 Index (ASX: XJO) is well in the red today, with Zip being the second-worst performer in the index after Afterpay Ltd (ASX: APT) which has plummeted almost 7%.  

In addition, the Zip share price had rallied more than 14% since Tuesday, which could be prompting investors to lock in profits.

Snapshot of the Zip share price

Overall, it has been a turbulent month for the Zip share price thus far.

Shares in Zip surged more than 13% yesterday following speculation that a rival BNPL provider acquired a stake in the company.

Although there has been no confirmation, Commonwealth Bank of Australia (ASX: CBA)-backed Klarna reportedly took a 4% stake in Zip.

Shares in Zip have also been one of the most shorted on the ASX. it appears some investors are pessimistic on the outlook for the company’s Quadpay business as Afterpay expands into the US.

Despite today’s turbulent price action, the Zip share price is still more than 58% higher for the year. However, the company’s shares are currently trading a long way off their all-time highs of $14.53 back in February.

The post The Zip (ASX:Z1P) share price is sinking today appeared first on The Motley Fool Australia.

More reading

• ASX 200 midday update: Afterpay & CBA sink, Viva Energy jumps
• It’s been a big month for the Zip (ASX:Z1P) share price
• Here are 3 of the ASX 200’s most heavily traded shares today
• Why Alkane, Audinate, Megaport, & Zip shares are rising today
• ASX 200 midday update: Zip rockets, AMP asset sale

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. owns shares of and has recommended AFTERPAY T FPO and ZIPCOLTD FPO. The Motley Fool Australia owns shares of and has recommended AFTERPAY T FPO. 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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At lunch on Friday, the S&P/ASX 200 Index (ASX: XJO) is out of form and looks set to record a disappointing decline. The benchmark index is currently down 1.4% to 7,239.8 points.

Here’s what is happening on the ASX 200 today:

Tech shares sink

The Australian tech sector is under pressure today and weighing heavily on the ASX 200 index. The likes of Afterpay Ltd (ASX: APT) and Zip Co Ltd (ASX: Z1P) are recording notable declines, leading to the S&P/ASX All Technology Index (ASX: XTX) falling 2.6%. Investors have been selling tech shares following a poor night of trade on the Nasdaq index.

Viva Energy update

The Viva Energy Group Ltd (ASX: VEA) share price is charging higher today following the release of a first half update. That update reveals that the energy company had a very strong first half thanks to sales growth from its non-aviation businesses. In light of this, the company expects operating earnings of $390 million to $410 million for the six months. This will be an increase of 34% over the pre-pandemic levels of FY 2019.

Bank shares weigh on the ASX 200

Also weighing on the ASX 200 today are the big four banks. All four banks are on course to end the week in the red, with the Commonwealth Bank of Australia (ASX: CBA) share price the worst performer in the group. The shares of Australia’s oldest bank are down 1.6% at lunch. Broad market weakness caused by global economic recovery concerns appears to be behind this decline.

Best and worst ASX 200 performers

The best performer on the ASX 200 on Friday has been the Viva Energy share price with a 5% gain. This follows its half year update. The worst performer has been the Afterpay share price with a 5.5% decline following the weakness in the tech sector today.

The post ASX 200 midday update: Afterpay & CBA sink, Viva Energy jumps appeared first on The Motley Fool Australia.

More reading

• Why the Fortescue (ASX:FMG) share price is getting left behind in 2021
• It’s been a big month for the Zip (ASX:Z1P) share price
• The Afterpay (ASX:APT) share price has now soared 25% in the last month
• Can the ASX 200 hit 8,000 points by the end of the year?
• Here are 3 of the ASX 200’s most heavily traded shares today

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 AFTERPAY T FPO and ZIPCOLTD FPO. The Motley Fool Australia owns shares of and has recommended AFTERPAY T FPO. 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 AML3D Ltd (ASX: AL3) share price is racing higher in mid-morning trade following a positive update from the company.

At the time of writing, shares in the advanced 3D parts manufacturer are up 10.26% to 21.5 cents after touching an intraday high of 22.5 cents in early trading.

What did AML3D announce?

Investors are driving the AML3D share price higher today after the company unveiled plans to establish a new research and development (R&D) facility.

In its release, AML3D advised it will set up an arcemy unit at the ‘Factory of the Future’ in Tonsley, Adelaide. Currently, the state-of-the-art factory is under development by Flinders University and BAE Systems Maritime Australia (BAE).

AML3D’s arcemy unit is a portable 3D printing system that can design and deliver additive manufacturing to a wide range of weldable materials and alloys.

AML3D managing director Andrew Sales said the R&D facility would form the basis of a large-scale additive manufacturing capability:

The trials and research projects to be undertaken at the facility in conjunction with BAE Systems Maritime Australia and Flinders University will enable AML3D to further develop its large-scale metal additive manufacturing capability through added features such as in process measurement, monitoring and adjustment that will improve quality.

BAE’s continuous naval shipbuilding strategy director Sharon Wilson noted that the facility could pave the way for potential applications in naval shipbuilding. She added:

The establishment of a permanent Line Zero facility will support the development of new manufacturing techniques and technologies within a factory-like environment that will ultimately be adapted to the state-of-the-art digital shipyard at Osborne, and beyond.

AML3D said its collaboration with Flinders University was expected to lead to further technological breakthroughs. Students at the public research university will be able to participate in advancing metal additive manufacturing research projects. This will allow researchers to explore future applications of AML3D’s technology.

AML3D share price summary

AML3D shares shot up to 73 cents in September 2020 before heading on a continued downwards trend. Although the company’s share price is up 4.88% over the past 12 months, year-to-date it’s fallen more than 40%.

AML3D has a market capitalisation of around $21 million, with approximately 99 million shares on its registry.

The post Why the AML3D (ASX:AL3) share price is rocketing 10% today appeared first on The Motley Fool Australia.

More reading

• Here’s why the AML3D (ASX:AL3) share price is rocketing 27% today
• Why the AML3D (ASX:AL3) share price is soaring 7% today

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

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Leading Australian fund manager, Prime Value, recently released an update on the fund’s portfolio for May 2021. In addition to highlighting companies that have outperformed in its portfolio, the fund also notes ASX companies that have underperformed.

Among the fund’s underperformers for the period was Elders Ltd (ASX: ELD).

Let’s find out more about the way Prime Value selects its holdings and why the fund is backing the Elders share price.

Why Prime Value is backing the Elders share price

Prime Value uses a number of criteria when selecting investments. These principles include selecting companies with strong management and good business models that offer compounding growth over time.

According to the fund, the track record of Elders in creating shareholder value of time espouses these factors.

The fund noted that Elders is well-positioned to benefit from its integration strategy to drive gross margin improvements. The company’s strategy should also result in savings across a broader range of products that Elders can distribute to the agriculture sector.

In addition, Prime Value noted that the strategy implemented by Elders will reduce the company’s reliance on the volatile agricultural environment.

Snapshot of the Elders share price

Elders is a leading supplier of fertiliser, agricultural chemicals and animal health products to rural and regional Australia. The agribusiness company also has strong positions in livestock, wool and real estate.

Overall, the Edlers share price has performed relatively strongly in 2021. Shares in the agribusiness are up more than 9% since the start of the year.

However, for the month of May, the Elders share price tanked more than 7%. This explains why Prime Value labelled the company as an underperformer for the month.

The Elders share price tumbled in May after the company released its half-year results for the 6 months ending 31 March 2021.

Elders reported a 31% increase in underlying profit after tax of $68.2 million. In addition, total sales for the period were 22% higher at $1.1 billion. Underlying earnings before interest, taxes, depreciation, and amortisation (EBITDA) also increased 28% to $94.3 million.

Elders also flagged a $16.5 million increase in costs. The company attributed rising costs to acquisitions, higher insurance costs and investment in strategic areas.  

In addition, Elders rewarded shareholders with a sharp increase in interim dividends. The company declared a 20-cent interim dividend per share, compared to 9 cents in the first half of FY20.

The post Why this leading fund manager is backing better times ahead for the Elders (ASX:ELD) share price appeared first on The Motley Fool Australia.

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• The ASX shares benefiting the most from the company spending boom

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 recommended Elders 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 Humm Group Ltd (ASX: HUM) share price is sliding lower on Friday. This comes as the company revealed it potentially had past exposure to Forum Finance, which is currently embroiled in fraud allegations.

At the time of writing, the Humm share price is trading 3.47% lower to 98 cents a share.

Potential fraud exposure details

On Wednesday, my Fool colleague, Tristan covered details of Westpac Banking Corp (ASX: WBC) uncovering significant potential fraud. The matter concerns a portfolio of equipment leases with Westpac customers arranged by Forum Finance.

The bank reported it had roughly $200 million after-tax of exposure to the matter. The actual loss will be determined by the outcome of investigations and recovery actions.

In the case of Humm, the company announced today its decommissioned Flexigroup managed services business may have been exposed to Forum Finance. Specifically, between 2016 and 2018 when the business provided finance to a number of vendor programs in the Australian market.

“Records indicate that Flexigroup Managed Services generated business linked to Forum Finance between 2016 and 2018,” the company stated. Recent investigations prompted a review of historical records which uncovered the finding.

However, Humm has since sold the majority of these assets to a third party, transferring them off of the company’s balance sheet in the process. Although, that hasn’t seemed to stem the downward pressure on the Humm share price today.

Moreover, the company is yet to confirm whether those specific assets are fraudulent. Hence, investigations remain ongoing as a result. Humm’s initial review puts the company’s potential on-sold exposure at $12 million post-tax. Importantly, no exposure exists on its current lines of business.

Humm share price snapshot

Unfortunately for shareholders, the revelations come on top of an already poor year for the Humm share price. So far in 2021, the company’s shares have devalued by 12.8%. Similarly, the value of the shares has fallen 19.3% in the past year.

Finally, based on the current Humm share price, the company holds a price-to-earnings (P/E) ratio of 16.64.

The post Why the Humm (ASX:HUM) share price is falling on Friday appeared first on The Motley Fool Australia.

More reading

• Why the Humm Group (ASX:HUM) share price is climbing today
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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. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Humm Group 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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Shares in Santos Ltd (ASX: STO) has dipped this morning amid reports its CEO has warned of the importance of carbon capture and storage (CCS) in the Australian energy sector.

At the time of writing, the Santos share price is $7.11, 0.35% lower than its closing price yesterday.

However, it’s performing better than the broader market today. Currently, the S&P/ASX 200 Index (ASX: XJO) is down 1.08%.

Let’s take a look at what Santos’ CEO Kevin Gallagher has to say about CCS.

‘Essential’ for Australian energy companies

According to Gallagher, for Australia’s energy sector to continue to attract foreign investment, gas and oil companies must employ CCS initiatives.

CCS is the process of capturing carbon before it enters the atmosphere and storing it underground so to reduce emissions.  

Gallagher’s comments were published by the Australian Financial Review (AFR) today. They echo those he made to the annual oil and gas industry (APPEA) conference last month.

According to the AFR, Gallagher believes Australia’s expansive unused land and numerous exhausted oil and gas fields makes it better suited for CCS initiatives than other nations.

Last month, Gallagher declared many investors and lenders globally were refusing to fund gas and oil companies due to climate concerns.

Perhaps in reaction to climate concerns, Santos has partnered with Beach Energy Ltd (ASX: BPT) to build a CCS project in South Australia. Santos successfully completed the final trial at the Moomba project in October. As part of the trial, the company injected 100 tonnes of carbon dioxide into depleted gas reservoirs at the project. The company expects a final investment decision for the project in September.

Gallagher was quoted by the AFR as saying:

Carbon capture and storage is more than an opportunity, I believe it is essential for companies like Santos to have in our portfolio.

The AFR reported that Gallagher has already received strong interest in the Moomba project from Japanese and South Korean customers.

However, the Climate Council states fossil fuel companies engaging in CCS are likely to be spending 6 times more than it costs to produce renewable energy. In January, the organisation claimed there were no successful CCS projects operated by fossil fuel companies anywhere in the world.

Santos share price snapshot

Despite today’s slump, the Santos share price is 10% higher year to date. It has also gained 34% since this time last year.

The company has a market capitalisation of around $14.9 billon, with approximately 2 billion shares outstanding.

The post Santos (ASX:STO) share price slips as CEO says carbon storage crucial appeared first on The Motley Fool Australia.

More reading

• 5 things to watch on the ASX 200 on Friday
• How new US oil forecasts could impact ASX energy shares
• 5 things to watch on the ASX 200 on Wednesday
• Why ASX energy shares are set to rise again today
• ASX energy shares in hotseat as OPEC+ struggles to contain crisis

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 Althea Group Holdings Ltd (ASX: AGH) share price is on course to end the week on a positive note.

In morning trade, the cannabis company’s shares are up 4% to 36.5 cents.

Why is the Althea share price climbing?

Investors have been bidding the Althea share price higher today following the release of a contract update.

According to the release, the company’s Canadian subsidiary, Peak Processing Solutions, has signed a manufacturing agreement with Delshen Therapeutics Corp. It is a wholly owned subsidiary of 48North Cannabis Corp, which is a Canadian cannabis licensed operator and brand marketer.

The release explains that under the agreement, Peak Processing Solutions will manufacture four products for 48North’s Latitude brand. The four products are a CBD body lotion, a 1:1 THC/CBD body lotion, CBD bath salts, and a 1:1 THC/CBD bath salts.

Management notes that the 1:1 bath salt product is already on the market, performing strongly and the only item of its kind currently available.

What is the contract worth to Althea?

The two-year, non-exclusive, agreement includes minimum order quantities with a combined value of approximately C$1.25 million.

These minimum order quantities, which operate on a per product basis, are required to be purchased over a period of 12 months from the date the first purchase order for each product is accepted by Peak Processing Solutions.

Althea’s CEO, Joshua Fegan, said: “This agreement with 48North is once again recognition that Peak is becoming a major player in the Canadian legal cannabis market. The opportunity to supply the well-known Latitude brand will enable the team at Peak to demonstrate their ability to produce fantastic topical and bath products, which consumers will love.”

“In addition to this latest 48North agreement, Peak continues to make great progress with more and more of our client’s products getting picked-up by the provincial distributors and hitting dispensary shelves. After receiving our Health Canada license in September 2020, Peak is expected to become EBITDA positive by the end of 2021,” he added.

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

More reading

• Blazing it? How the top ASX cannabis shares performed in FY21
• Here’s why the Althea (ASX:AGH) share price is racing higher today

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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