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At lunch on Thursday, the S&P/ASX 200 Index (ASX: XJO) has run out of steam and is trading lower. The benchmark index is currently down 0.3% to 7,363.7 points.

Here’s what is happening on the market today:

Coles Strategy Day

The Coles Group Ltd (ASX: COL) share price is under pressure today following the release of its strategy day update. Although the supermarket giant revealed solid progress against a number of key metrics, it has been losing market share due to COVID-19 shopping trends. In addition to this, Coles revealed that it expects its capital expenditure to increase to $1.4 billion in FY 2022. This is partly due to its investment in its distribution centres.

Challenger tumbles

The Challenger Ltd (ASX: CGF) share price is sinking today after releasing its investor day presentation. At the event, CEO and Managing Director, Richard Howes, reaffirmed that the annuities company is expecting normalised net profit before tax at the bottom end of its guidance range of between $390 million and $440 million this year. In FY 2022, its normalised net profit before tax is expected to grow to between $430 million and $480 million.

Gold miners sink

Gold miners such as Evolution Mining Ltd (ASX: EVN) and Resolute Mining Limited (ASX: RSG) are sinking lower after the gold price tumbled overnight. According to CNBC, the spot gold price fell 1.4% to US$1,830.60 an ounce after the US Federal Reserve brought forward its rate hike plans to 2023. The S&P/ASX All Ordinaries Gold index is down 3.5% at lunch.

Best and worst ASX 200 performers

The best performer on the ASX 200 on Thursday has been the Netwealth Group Ltd (ASX: NWL) share price with a 6% gain on no news. The worst performer has been the Whitehaven Coal Ltd (ASX: WHC) share price with an 11% decline following a disappointing downgrade to its guidance.

The post ASX 200 down 0.3%: Coles and Challenger updates, gold miners sink appeared first on The Motley Fool Australia.

More reading

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• Coles (ASX:COL) share price on watch following strategy update
• 5 things to watch on the ASX 200 on Thursday
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• Here are 3 of the ASX 200’s most traded shares today

James Mickleboro does not own any shares mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Netwealth. The Motley Fool Australia owns shares of and has recommended COLESGROUP DEF SET, Challenger Limited, and Netwealth. 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 Sonic Healthcare Limited (ASX: SHL) share price has failed to fire up this morning after the company announced a new acquisition.

At the time of writing, the medical diagnostics company’s shares are see-sawing around yesterday closing price, down 0.02% to $36.68.

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

Sonic Healthcare to strengthen its imaging division

In its release, Sonic Healthcare advised it has signed a binding agreement to acquire 100% of Canberra Imaging Group (CIG).

The company described this move as a “significant and positive step” in developing its imaging division in Australia.

CIG is a leading practice in Canberra, with additional branches located in regional New South Wales. The practice employs 15 radiologists and along with ~200 other staff.

CIG generates annual revenues of ~A$60 million, which is expected to increase the revenue of Sonic Healthcare’s imaging division by about 10%.

Today’s statement did not specify the cost of the acquisition, but noted the settlement was expected to be complete in the first quarter of FY22. The acquisition will be funded from cash and/or available debt lines.

Sonic Healthcare said CIG would be immediately earnings per share accretive, with the return on capital invested expected to exceed the cost of capital in the first year.

What did management say?

Sonic Healthcare CEO Dr Colin Goldschmidt said:

Canberra Imaging Group is a high quality imaging practice, with outstanding radiologists, management and staff, and with a culture that is strongly aligned with Sonic’s Medical Leadership model.

CIG has a proven track record in the greater Canberra market, with a history of strong organic growth based on personalised and excellent customer service. I am delighted to welcome warmly all CIG staff to the Sonic Healthcare group.

Sonic Healthcare share price eyes record all-time highs

The Sonic Healthcare share price has had a solid performance so far this year. The company’s shares are up 11.32% to $36.60, not far off their August 2020 record all-time high of $38.00.

The bullish performance of Sonic Healthcare shares is underpinned by a solid financial performance. The company’s February half-year results revealed a 33% increase in revenue to $4.4 billion and 168% surge in net profit to $678 million.

The company said that its COVID-19 testing activities had made a significant contribution to its revenue and earnings growth.

The post What’s with the Sonic Healthcare (ASX:SHL) share price today? appeared first on The Motley Fool Australia.

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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 Sonic Healthcare 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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Whitehaven Coal Ltd (ASX: WHC) shares are tumbling this morning after the company downgraded its production guidance. At the time of writing, the Whitehaven share price is trading at $1.84 ­– 9.8% lower than yesterday’s close.

Today’s downgrade marks the fourth time Whitehaven has lowered its 2021 financial year production guidance.

Let’s look at the coal mining company’s latest announcement.

Downgraded production guidance

Whitehaven shares are well in the red today after the company downgraded its production guidance for the 2021 financial year to 20.4 million tonnes of coal.

Within its full-year results, released in August 2020, Whitehaven gave production guidance of between 21 and 22.8 million tonnes for the 2021 financial year.

Its guidance was first downgraded in January, then again in March, and once more in April.

According to Whitehaven, the latest downgrade has been led by less production at the company’s Narrabri underground mine.

Whitehaven states the Narrabri mine is undergoing engineering works and has experienced a geological event. The company is conducting geo-sensing drilling at the mine to provide confidence in the geological conditions.

Originally, Whitehaven claimed the Narrabri mine would produce between 6 and 6.7 million tonnes of coal this financial year. The company now expects the mine to produce 4.1 million tonnes in FY21.

In its full-year results, the company claimed it expected managed coal sales of between 18.5 and 20 million tonnes.

Today, Whitehaven announced its managed coal sales will likely be around 17.9 million tonnes.

However, Whitehaven’s Maules Creek and Gunnedah Open Cut mines are still as productive as previously expected.

The Maules Creek mine is now expected to produce 12.5 million tonnes of coal this financial year – 0.5 million tonnes more than its original guidance.

The Gunnedah Open Cut mine’s production is within the range of the previous guidance. Whitehaven expects it to produce 3.8 million tonnes of coal for FY21.

The company’s unit cost guidance has also continued as predicted – $74 per tonne.

Whitehaven share price snapshot

Whitehaven shares have had a good run on the ASX lately, spurred by the gaining price of coal.

Currently, the Whitehaven share price has gained around 12% year to date. It has also gained almost 13% since this time last year.

The company has a market capitalisation of around $1.9 billion, with approximately 1 billion shares outstanding.

The post Whitehaven (ASX:WHC) share price slides 10% on guidance downgrade 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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Seven West Media Ltd (ASX: SWM) shares are surging higher in morning trade. At the time of writing, the Seven West share price is up 10.63% to an intraday high of 44.25 cents.

The movement comes after the company announced a trading update for the backend of the current financial year.

Let’s take a look at how the media company has been performing.

What did Seven West Media announce?

Judging by today’s Seven West share price, investors are excited over the company’s latest statement to the ASX.

According to its release, Seven West Media reported favourable trading conditions during the fourth quarter of 2021.

Advertising revenue has rebounded strongly when compared to last year, projected to increase by 45% in the quarter. This includes Broadcast Video on Demand (BVOD), which is engaging with millions of viewers in Australia.

Since April, the company has been increasing its television audience share which has translated to a lift in revenue.

Management noted “the Seven Sales team delivered the number 1 linear TV revenue share. Seven West Media is highly confident in Seven’s schedule for the next six months, with proven and successful formats and Olympic Games Tokyo 2020 and the Ashes Test series.”

Digital earnings are performing strongly, with the company forecasting its digital segment to contribute more than $60 million to earnings before interest, tax, depreciation and amortisation (EBITDA). This represents a 130% year-on-year increase. FY22 is projected to double FY21’s digital earnings figures.

Pleasingly, Seven West Media has kept costs in line at the lower end of the range announced in its February half-year results.

Overall, the group expects EBITDA to be between $250 million and $255 million in FY21. This compares to analyst consensus of $235 million to $245 million for the period.

Seven West Media stated that significant work has been undertaken to strengthen up its balance sheet. Net debt is estimated to stand at around $240 million to $250 million at the end of June 2021.

The company anticipates the positive momentum to continue running into the September quarter.

Seven West Media share price summary

Despite being hit hard by COVID-19 in 2020, Seven West Media shares have been on the rebound. Over the last 12 months, the company’s share price has lifted by more than 270%, reaching 2019 levels.

Seven West Media presides a market capitalisation of roughly $669 million, with approximately 1.5 billion shares on issue.

The post Seven West (ASX:SWM) share price zooms 7% on trading update 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 S&P/ASX 200 Index (ASX: XJO) briefly traded above 7,400 for the first time on record on Wednesday.

Alongside the bullish performance of the broader market, these ASX 200 shares have also managed to push into record territory.

Commonwealth Bank of Australia (ASX: CBA)

First off the block is ASX 200 heavyweight, Commonwealth Bank of Australia.

The CBA share price has added another 0.89% to $105.75 this morning, another all-time record high for the largest ASX-listed stock. This brings the company’s shares to a year-to-date performance of an astonishing 26%.

It was just two weeks ago that its shares crossed the $100 mark for the first time on record.

Some factors that appear to support the bullish CBA share price include positive key lending data from the Australian Bureau of Statistics (ABS), soaring housing prices and continued momentum in the bank’s earnings, evidenced by its third-quarter results.

Wesfarmers Ltd (ASX: WES)

Similarly, Wesfarmers peaked at an all-time record high this week, closing at $57.13 on Wednesday. It’s up about 11% this year.

Wesfarmers has been relatively quiet in terms of price-sensitive news this year, with notable announcements including a strategy briefing presentation in June and half-year results in February.

The company’s half-year results delivered strong sales and earnings growth across its retail businesses, alongside an improvement in performance for its industrial and safety segments. The group experienced a 16.6% increase in revenue to $17,774 million while net profit also lifted 14.9% to $1,390 million.

Domino’s Pizza Enterprises Ltd (ASX: DMP)

Domino’s Pizza shares hit a record all-time high on Tuesday of $118.08 with year-to-date performance up about 33.5%. After a relatively flat day on Wednesday, Domino’s share price is trading 0.82% lower at the time of writing at $116.73.

The company recently spent $79 million to acquire stores and franchise rights held by Domino’s Taiwan.

The acquisition will expand the company’s geographic footprint and add a sophisticated network of 138 franchised stores and 19 corporate stores.

Domino’s February half-year results highlight the company’s growth aspirations, with a medium term goal of 3–6% same store sales growth and 7–9% new organic store additions on a year-on-year basis.

From a more long-term perspective, the company aims to double its existing store network from the reported 2,795 in 1H21 to 5,550 stores by FY25-33.

REA Group Ltd (ASX: REA)

The REA share price closed at a record all-time high of $169.95 on Wednesday, lifting about 10% so far this year. Shares have slipped 1.5% today, trading at $167.5 at the time of writing.

The company has committed to accelerating its financial services offering, with a proposed takeover of Mortgage Choice in March and recent investment in mortgage software solutions business, Simpology.

The leading digital real estate advertising business reported strong signs of recovery for residential listings in its third quarter results. Alongside an improvement in listings, the company reported a record number of visitors, with a record 13.2 million website visitors and 63.4 million app launches in March.

The post 4 ASX 200 shares making all-time record highs appeared first on The Motley Fool Australia.

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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 owns shares of and has recommended Wesfarmers Limited. The Motley Fool Australia has recommended Dominos Pizza Enterprises Limited and REA 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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The Creso Pharma Ltd (ASX: CPH) share price is sinking on Thursday after announcing merger plans.

In morning trade, the cannabis and psychedelics company’s shares are down 5.5% to 17 cents.

Why is the Creso Pharma share price sinking?

Investors have been selling the company’s shares after it announced an agreement with Ontario-based Red Light Holland to combine businesses and create The HighBrid Lab.

Management notes that this will create a leading global psychedelics and cannabinoid company with an implied pro forma equity value of A$371 million (C$347 million). This is based on the closing price of the shares of Creso Pharma and Red Light Holland on 15 June 2021.

According to the release, the agreement will see Red Light Holland acquire all the issued listed shares and options of Creso Pharma. Under the terms of the agreement, shareholders will receive 0.395 of a Red Light Holland share for each fully paid ordinary share of Creso Pharma.

Why merge?

The HighBrid Lab’s proposed non-executive Chairman, Bruce Linton, commented: “Having worked with both the Creso Pharma and Red Light Holland teams closely in the past, I am really excited by the potential this combination brings. As a merged company, The HighBrid Lab has access to four of the highest growth industry segments around, and the team, board and advisory group to make real progress within these verticals. I’m really looking forward to rolling up my sleeves and helping The HighBrid Lab get to work!”

This sentiment was echoed by Red Light Holland’s CEO and Director, Todd Shapiro.

He said: “Red Light Holland has significant capital and expertise, and is motivated for growth. The company understands the sensitive complexities of the ingredients we deal with, while ensuring we continue to make a bold yet careful push to provide and increase access for immediate revenue generation and brand expansion. Our core principle is to compliantly lead with edgy consumer packaged goods focused on positive outcomes, while balancing a responsible, regulated and educational use approach through technology and innovation.”

“Merging with Creso Pharma, who also has significant cash on hand, and formulating The HighBrid Lab, with Bruce Linton as Chair of the Board, means we can expand our premium product offerings globally in the high growth CBD, THC and psychedelic sectors. Together we are bullish on developing world class products with naturally occurring ingredients in clever and innovative ways for both humans and pets, which completely aligns with Creso Pharma’s R&D and sales approach,” he added.

Mr Shapiro will lead the merged company as CEO and a director.

What now?

Shareholders will be given the chance to vote on the proposal in the near future. The release explains that the transaction will require the approval of 75% of the votes cast by Creso Pharma shareholders, as well as court approval.

Though, judging by the Creso Pharma share price performance today, that may be far from guaranteed. It appears as though some investors are unsure by the company’s plans.

The post Creso Pharma (ASX:CPH) share price sinks on Red Light Holland merger plans appeared first on The Motley Fool Australia.

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James Mickleboro does not own Creso Pharma shares. 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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Ramelius Resources Ltd (ASX: RMS) shares are on the slide this morning despite the company commencing gold mining at its Tampia mine.

At the time of writing, the Ramelius share price is trading 5.85% lower at $1.69.

First ore mined at Tampia

Ramelius shares are sinking in morning trade despite the company advising it has commenced ore mining at its Tampia gold mine following open-pit mining in late April 2021.

Mining will initially take place from the project’s North Pit and shortly move to the higher grade Mace and South Pit areas.

Ramelius says that the project has commenced on schedule and it is on track to despatch the first road train of high-grade ore to its Edna May processing facility in early June 2021.

To add some perspective for what Tampia brings to the table, management previously advised that the project “represents approximately 60,000 ounces in our FY2022 production profile”.

This compares to the company’s FY21 production guidance of 260,000 to 280,000 oz at an all-in sustaining cost of A$1,230 to A$1,330.

What did management say?

Ramelius managing director Mark Zeptner said:

Gold from Tampia will represent a significant proportion of our FY2022 production target and will be our first new mine in the Western Australian wheat belt where we believe we will deliver significant returns for all stakeholders.

What’s driving the Ramelius share price lower?

Despite the seemingly positive news, the Ramelius share price is currently down by almost 6%. The company’s shares could be reacting to the slump in gold prices overnight.

Last night, gold prices dropped sharply by about 2.5% from US$1,858 per ounce to lows of US$1,803 per ounce.

The Ramelius share price isn’t the only ASX gold mining stock under pressure today, with peers including Newcrest Mining Ltd (ASX: NCM), Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) sliding between 2.04% and 5.29%.

The post Ramelius (ASX:RMS) share price slides 6% despite project milestone appeared first on The Motley Fool Australia.

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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 best performer on the All Ordinaries on Thursday has been the Opthea Ltd (ASX: OPT) share price.

In morning trade, the biotechnology company’s shares are up 12% to $1.58.

Why is the Opthea share price rocketing higher?

Investors have been fighting to get hold of the company’s shares in response to an update from rival Clearside Biomedical.

This week, Clearside Biomedical provided an update on the Phase 1/2a trial of its wet age-related macular degeneration (wet AMD) candidate, CLS-AX.

According to the release, the open-label, single dose-escalation study is designed to assess the safety and tolerability of three increasing doses of CLS-AX administered by suprachoroidal injection via Clearside’s SCS Microinjector.

Pleasingly, Clearside Biomedical reported positive safety results from six patients with wet AMD. The release explains the primary endpoints were achieved, with the initial lowest planned dose well tolerated with no serious adverse events and no drug related treatment emergent adverse events observed throughout the study period.

Why is this impacting Opthea?

This news appears to have brought Opthea onto the radar of investors. This is because both companies are developing experimental drugs that target wet AMD. However, Opthea is ahead of Clearside Biomedical in terms of development with its lead candidate, OPT-302. It started treating its first patient in its phase 3 trial in March, following successful phase 2 trials.

OPT-302 is a novel biologic inhibitor of VEGF-C and VEGF-D and a complementary medicine to be used in conjunction with VEGF-A inhibitors for the treatment of wet AMD and also diabetic macular edema (DME). These are markets worth an estimated ~US$13 billion at present.

Is it too late to invest?

One broker that still sees a lot of value in the Opthea share price is Goldman Sachs.

Goldman currently has the company on its conviction buy list with a price target of $4.70. Based on the current Opthea share price, this implies potential upside of ~200%.

Commenting on OPT-302, it said: “As successful as current treatments have been, they only inhibit up to two of the factors responsible for the retinal disease (VEGF-A/B). Over half of patients do not achieve significant vision gains, and a quarter experience continued vision loss.”

“OPT-302 is intended for use in combination with these treatments, blocking a further two factors (VEGF-C/D), hence targeting improved outcomes via a more complete blockade. We currently forecast non-risk-adjusted peak sales of US$5.3bn (US$2.3bn risk-adjusted), of which US$3.6bn relates to wAMD (US$2.0bn),” it added.

The post Why the Opthea (ASX:OPT) share price is rocketing 12% higher appeared first on The Motley Fool Australia.

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James Mickleboro does not own any shares 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 BetMakers Technology Group Ltd (ASX: BET) share price has shed more than 30% of its value since its all-time record high of $1.60, reached on 28 May.

BetMakers shares slipped another 2.26% to $1.08 on Wednesday, but that’s where they will stay, at least for now.

The company requested a trading halt today, pending an announcement regarding the completion of a material acquisition.

BetMakers shares will remain frozen until Monday 21 June or upon the announcement being released to the ASX.

What acquisition is BetMakers referring to?

Investors will likely associate this “material acquisition” announcement with BetMakers’ recent non-binding, indicative proposal to acquire the Tabcorp Holdings Limited (ASX: TAH) wagering and media business.

But unfortunately, we will need to wait a little longer to learn exactly what has been acquired.

The elephant in the room

It’s likely been a frustrating experience for shareholders who have witnessed the BetMakers share price shed 30% in value on the back of its proposal to acquire Tabcorp’s wagering and media business.

Before the sharp selloff that took place on 28 May, BetMakers shares had surged about 138% year to date from 67 cents to their all-time record high of $1.60.

The recent selloff has more than halved their year-to-date performance to about 60%.

Tabcorp announced it had received the indicative proposal on 28 May, with the announcement saying:

The proposal is subject to numerous conditions including due diligence, arranging financing, receipt of all relevant regulatory approvals and obtaining various third party approvals and consents.

The Tabcorp Board has not yet formed a view on the merits of the proposal and will assess it in the context of the previously announced strategic review.

What’s interesting about this acquisition is that BetMakers, which has a market capitalisation of about $900 million, wants to fork out $1 billion in cash and issue $3 billion worth of new shares to acquire Tabcorp’s wagering and media business.

Unfortunately, investors will likely need to wait until Monday to find out what deal the company has struck.

The post Why the BetMakers (ASX:BET) share price isn’t going anywhere today appeared first on The Motley Fool Australia.

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The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Betmakers Technology Group Ltd. The Motley Fool Australia has recommended Betmakers Technology 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 BHP Group Ltd (ASX: BHP) share price is slipping in early trade today after the mining and metals giant held an investor and analyst briefing.

The company’s shares have enjoyed a 34% rally over the past 12 months as demand for resources has boomed. That means before dividends, BHP has outperformed the S&P/ASX 200 Index (ASX: XJO) by 11% — which any investor would be chuffed with.

At the time of writing, the BHP share price is trading at $47.97, down 0.8%.

Today’s announcement has given the market some insights into BHP’s plans for the future.

Potash gives food for thought

BHP’s presentation goes into depth on the supply and demand dynamics of potash. For those unfamiliar with it, potash is a mixture of various mined and manufactured salts that contain potassium in water-soluble form. Potash is widely used as the potassium additive in fertilisers, making up approximately 92% of its applications.  

According to the presentation, there are several factors that BHP sees as strong demand catalysts for potash. A combination of population growth, a shift to plant-based diets, and a need for increased crop yields are all attractive for demand.

See, potassium is essential for healthy crop growth and increased yield. Additionally, BHP believes there are major yield gaps between regions that could narrow with better farm practice, including fertiliser application.

With that in mind, the mining giant sees a 4^th wave of major demand underway. Once demand catches up with supply, the company expects an inducement pricing regime. That means, at minimum, the pricing would cover the costs of production. Currently, the consensus view is that demand will catch up in the late 2020s to early 2030s.

BHP’s Jansen potash project is located roughly 140km east of Saskatoon, Canada. According to the company, the project has an anticipated initial capacity of 4Mtpa, boding well for the BHP share price.

Big picture thinking

BHP also covered some megatrends that could present opportunities for potash. Firstly, climate change is presenting greater pressure on land use. As a result, increased potash usage to increase yields and aid in drought tolerance might ensue. Secondly, the adoption of precision agriculture presents an opportunity for automated potassium regulation.

It also helps that the potash market is estimated to grow to between 89Mt to 97Mt by 2035 from 70Mt today. Evidently, the miner is hoping to capture a big chunk of that growth for itself.

Fuelling the BHP share price

Despite the BHP share price putting on a stellar performance over the past 12 months, one broker thinks there’s more to come. Analysts at Goldman Sachs have a 12-month price target of $53.90 per share. In addition, Goldman is forecasting a dividend bonanza — potentially yielding in excess of 6.5% for FY21 and FY22.

Today’s investor briefing shows the mining giant is looking for the fuel to keep that growth engine pumping into the future.

The post The BHP (ASX:BHP) share price slips on future potash potential appeared first on The Motley Fool Australia.

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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 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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