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The Domino’s Pizza Enterprises Ltd (ASX: DMP) share price has been a positive performer on Monday.

In afternoon trade, the pizza chain operator’s shares are up over 4% to $108.44.

Why is the Domino’s share price charging higher?

Today’s gain appears to have been driven by a broker note out of Citi this morning.

According to the note, the broker has taken its sell rating off the company’s shares and upgraded them to a neutral rating.

Citi also increased its price target by approximately 44% to $104.20.

What did the broker say?

Citi has been looking at the company’s options in Europe and sees scope for Domino’s to expand into a number of new markets such as Italy and Spain.

At present, the company is the largest franchisee outside of the USA. It holds the master franchise rights to the Domino’s brand and network in Australia, New Zealand, Belgium, France, The Netherlands, Japan, Germany, Luxembourg, and Denmark.

From these markets, Domino’s is aiming to grow its network from ~2,800 stores today to 5,550 stores by 2031.

However, Citi believes that Domino’s could add a further ~2,500 stores to this total by expanding into other European markets. It notes that this would boost its profits materially.

Can the Domino’s share price go higher?

As you might have noticed, despite lifting its price target by 44%, the Domino’s share price is still trading beyond it. This would imply that the upside from here is not only extremely limited, but the risk could even be to the downside.

The good news is that another leading broker still believes the Domino’s share price can go even higher. That broker is Morgans, which currently has an add rating and $119.00 price target on the company’s shares.

Based on the latest Domino’s share price, this implies potential upside of 10% over the next 12 months.

More reading

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• The Domino’s (ASX:DMP) share price is up 22% this year
• 2 top ASX growth shares rated as buys in May
• 2 quality ASX shares that could be fantastic buy and hold options
• 2 top ASX growth shares rated as buys

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The Cimic Group Ltd (ASX: CIM) share price has been stuck in the red today, despite the company announcing another contract award.

The global engineering company’s shares are fetching $21.10 at the time of writing, down 1.8%.

Below, we take a closer look at what’s driving the Cimic share price today.

M6 Motorway project

In its announcement, Cimic advised that its subsidiaries CPB Contractors and UGL have been selected to build the M6 Motorway in Sydney. The design and construct contract will see both companies, along with joint venture partner Ghella, deliver the first stage of the multi-billion-dollar motorway.

The New South Wales government awarded the deal, which is expected to generate roughly $1.95 billion in revenue for Cimic. The total value of the M6 stage 1 project is around $2.5 billion.

Once completed, the M6 will connect the roads in Sydney’s south to the city’s wider motorway network. It’s envisaged this will improve journey times for motorists, as well as reduce congestion, and remove trucks from local streets.

The joint venture will include building an underground motorway connection, mainline tunnels, exit/entry ramps, shared cycle and pedestrian pathways and tunnel stubs.

The project will start in 2022 and is scheduled for completion in 2025.

What did management say?

Cimic group executive chair and CEO Juan Santamaria touted the company’s achievements, saying:

Cimic Group companies are delivering major transport projects across Australia. Having successfully completed several WestConnex projects, our companies have specific expertise in delivering motorways in urban areas.

This experience will be applied to safely and successfully deliver the M6 Stage 1 for the NSW Government.

CPB Contractors managing director Jason Spears added:

This is an important addition to the portfolio of road, rail and airport projects that CPB Contractors’ experienced teams are delivering across NSW. We are very pleased to have been selected to work closely with Transport for NSW to safely deliver this key piece of transport infrastructure for the people of Sydney.

UGL managing director Doug Moss said UGL also looked forward to bringing its expertise to the M6 project, adding that the company was helping to “improve transport infrastructure right across Australia”.

Cimic share price review

The Cimic share price had been relatively stable prior to its results for the full-year results released in February when its shares plummeted more than 20% as investors ran for the hills. Since the beginning of May, the company’s shares have started to rebound.

Based on today’s price, Cimic commands a market capitalisation of $6.5 billion, with approximately 311 million shares on issue.

More reading

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• These were the best performing ASX 200 shares last week

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Cryptocurrencies continued to sell off over the weekend following a clampdown on Bitcoin (CRYPTO: BTC) mining and trading activities in China.

This news comes just days after China’s finance, banking and clearing regulators banned their financial and payment institutions from cryptocurrency-related activities.

China pulls the plug on cryptocurrencies

Last week, China’s new policies were focused on ensuring that relevant institutions were banned from conducting business related to cryptocurrencies. This included bans against trading, clearing, settling or accepting virtual currency as well as the prohibition of virtual currency exchange services and the use of virtual currency as investments.

Over the weekend, China took another jab against cryptocurrency markets, this time, with a focus on Bitcoin mining and trading activities. According to Reuters, this is “the first time the state council has explicitly targeted crypto mining activities”.

China’s crackdown on Bitcoin mining could have significant implications for cryptocurrency markets. It is estimated that Chinese miners drive more than 60% of the computational power used to mine and process transactions, otherwise known as hash power or hashrate.

In late April, a blackout in China’s Xinjiang region caused almost half its Bitcoin network to go offline. This saw a significant slump in the global hashrate, according to Blockchain.com. There has typically been a positive correlation between Bitcoin hashrate and prices. The hashrate has taken a significant hit over the last week, which could be another reason why the Bitcoin price is struggling.

China’s crackdown sees cryptocurrency sell-off continue

Cryptocurrency markets have wound up in a sea of red following China’s clamp down.

The Bitcoin price managed to bounce back strongly last Thursday, regaining its US$40,000 level. But as China’s news broke out over the weekend, prices slipped to around US$37,500 by Saturday and lows of US$31,000 on Sunday. The Bitcoin price has managed to bounce off these lows and is currently sitting at US$35,578 at the time of writing.

The narrative was the same for other popular cryptocurrencies including Dogecoin (CRYPTO: DOGE) and Ethereum (CRYPTO: ETH). Both tokens experienced sharp rebounds on Thursday, followed by three sharp negative sessions.

More reading

• Would you pay 10% more for a ‘green Bitcoin’?
• Is cryptocurrency the same as owning a stock?
• ASX 200 Weekly Wrap: ASX whipsaws in volatile week
• Ethereum vs. Bitcoin: Which is the better buy?
• Billion dollar losses expose dangers of leveraged Bitcoin investing

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The AVZ Minerals Ltd (ASX: AVZ) share price is storming higher on Monday.

In morning trade, the lithium explorer’s shares were up as much as 10% to 16.5 cents.

The AVZ share price has since eased back a touch but remains up almost 7% to 16 cents.

Why is the AVZ share price storming higher?

Investors have been buying the company’s shares today after it released an update on the Mineral Resource of the Manono Lithium and Tin Project in the Democratic Republic of Congo (DRC).

According to the release, geological modelling of the pit floor has confirmed the presence of high grade, fresh pegmatite in all nine resource holes drilled on sections 7100mN to 7300mN at the Roche Dure.

This has led to its Indicated Resources increasing by 12 million tonnes, leading to its combined Measured and Indicated Resources lifting to 274 million tonnes.

In addition to this, the depth of the Roche Dure pit was shallower than the company was anticipating.

As a result, this is expected to lead to lower strip ratio and increased ore mined over the optimised Life of Mine (LoM) plan, which is forecast to have a positive financial impact on the optimised definitive feasibility study (DFS). This bodes well for upcoming discussions with its financiers and explains much of the rise in the AVZ share price today.

AVZ Managing Director, Nigel Ferguson, commented: “This additional information has resulted in the upgrade of some 12 million tonnes of Inferred Resources to Indicated Resources. These additional tonnes, located at shallow depth in the existing pit, are expected to result in fundamental improvements to the mine design and mining schedule as the optimised mine model will treat the wedge material as ore, rather than waste.”

“The lower strip ratio resulting from the increase in ore mined over the optimised mine plan, coupled with lower LOM cost assumptions, is expected to have a positive impact on the optimised DFS to be completed next month which will greatly assist our discussions with prospective financiers,” he added.

More reading

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The Caspin Resources Ltd (ASX: CPN) share price is skyrocketing today after the company provided an update regarding its Yarabrook Hill project.

Caspin shares are up a whopping 40.7% to $1.21 at the time of writing, creating a 160% yearly gain for the miner. Let’s see what it’s discovered.

Multiple sulphide zones

Caspin shares are having a party on the ASX after the company updated the market on its drilling targets at Yarabrook Hill in Yarawindah, Western Australia.

According to the company, it has intersected multiple broad sulphide zones over a 250 metre strikezone in one drilling target, and 120 metre strikezone at another. The sulphide intersections ranged between 1% and 3% volume, but were found as high as 15% in some areas, at various depths.

Caspin discovered disseminated copper sulphides, which it says are consistent with the platinum group (PGE) mineralisation style it is targeting in the region. The company noted that the sulphide minerals include “chalcopyrite (copper sulphide), pyrrhotite (iron sulphide) and pentlandite (nickel sulphide) hosted by mafic and ultramafic rocks.”

According to the company, the fact these drilling holes are more than a kilometre apart suggests the Yarabrook Hill drill site may house a wide expanse of potentially lucrative minerals. As a result, investors have sent the Caspin share price soaring today.

Caspin’s initial drilling is now complete and the company is awaiting assay results.

Management comments

Caspin CEO Greg Miles says this is just the beginning for the company’s drill targets:

The two holes at Yarabrook Hill have delivered exactly what we wanted to see, that is, mafic and ultramafic rocks with broad zones of copper and nickel sulphide mineralisation which we believe is a good visual proxy for potential PGE mineralisation.

The holes are 1.25km apart, so the scale of the opportunity is significant. Now we wait with anticipation for the assay results. In the meantime, we are already planning the next work program. We are extremely grateful to have received a co-funded drilling grant through the WA Government Exploration Incentive This is going to allow us to drill the deepest hole at Yarabrook Hill to date which will give us a huge amount of new geological information as well as another opportunity for discovery.

Caspin share price snapshot

The Caspin share price has exploded today and has now reached the highest point in its six-month history on the ASX. The company’s shares debuted on the exchange at 46 cents apiece before jumping from 60 cents in March to a previous high of 90 cents just last month. Overall, Caspin shares have gained around 124% in 2021 alone.

More reading

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• Leading brokers name 3 ASX shares to buy today
• 3 reasons why the Temple & Webster (ASX:TPW) share price could be a buy

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Bitcoin (CRYTPO: BTC) has been taking heat for the massive amounts of energy required to mine new tokens and to verify transactions made with existing tokens.

While this issue has been around for years, it’s getting worse as Bitcoin’s energy use continues to increase alongside its growing popularity.

Tesla Inc‘s (NASDAQ: TSLA) Elon Musk recently brought the token’s huge carbon footprint to the world’s attention. Musk said that Tesla wouldn’t sell its Bitcoin holdings – originally purchased for US$1.5 billion. However, he added his company would no longer accept Bitcoin for payment until it was powered by cleaner energy sources.

He does have a point.

By some estimates, Bitcoin’s global energy consumption will soon surpass that of all of Australia. And with the ever-growing focus on climate change and decarbonising the planet, this is putting further pressure on the price.

A green premium

Where there are problems, there are potential profits to be made.

In this case, those profits could come in the form of a premium paid for ‘green Bitcoin’.

As Bloomberg reports:

Some [crypto miners] are working to sell what they are calling green Bitcoin – coins whose transactions are verified on the blockchain by computers powered only by renewable energy. The bet is that they will be able to command a premium of up to 10%.

Sheldon Bennett is the CEO at crypto miner DMG Blockchain Solutions Inc. DMG says that numerous banks and financial businesses have expressed an interest in transacting in Bitcoin that meets their environmental, social and corporate governance (ESG) commitments.

According to Bennet, “There’s a market that doesn’t know it yet… More and more, they are saying if there’s an option, I am willing to pay a premium to get it.”

Isaac Maze-Rothstein, a research analyst at Wood Mackenzie, added, “There are a bunch of miners who saw what happened with the coal industry. So they only pursue a project if it’s carbon negative. There are others who want to co-locate with wind, or with solar.”

Some crypto miners are also turning to hydropower. Others – with permission – tap into the unused processing powers of computers visiting their websites.

However, Christopher Bendiksen, the head of research at CoinShares, sounds a note of caution for any ‘green Bitcoin’ optimists.

He estimates that around 55–65% of Bitcoin mining uses renewable energy sources today. About half of all the mining is done in China, notoriously dependent on its coal-fired power plants.

With the Bitcoin price hitting record highs in April, miners may well be willing to spend a bit more for cleaner energy. But as the price falls, Bendiksen believes many will return to cheaper, dirtier energy sources.

Bendiksen said (quoted by Bloomberg):

Right now mining is hyper profitable. And these hyper profitability periods don’t last forever. When mining costs start approaching Bitcoin price again, the costs will matter. Bitcoin mining is absolutely ruthless, and you are competing against miners that are in different countries than you are, and they don’t necessarily care about the environment like you do. It’s quite dangerous for your competitiveness over time.

Australia based Iris Energy, founded by Will and Daniel Roberts, has been atop the ‘green Bitcoin’ theme for some time. Back in February, the company raised $25 million to ramp up the computing power of its Bitcoin mining operations in Canada. Those operations are powered by hydroelectricity.

Bitcoin price snapshot

One Bitcoin is currently worth US$35,269 (AU$45,804). That’s down 7% over the past 24 hours and down 46% from the all-time high of US$64,829 reached on 14 April, according to data from CoinDesk.

To give you an idea of the ongoing volatility of the world’s largest crypto, over the past 24 hours it traded as low as US$31,180 and as high as US$38,235. That’s a price variance of more than 22%, all within a single day.

So, would you pay an extra 10% knowing your Bitcoin was mined with renewable energy?

A growing number of sustainable crypto miners are hoping you said ‘yes’.

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• Why Ford couldn’t keep Tesla shares from popping today

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The Freelancer Ltd (ASX: FLN) share price is up today after the company announced the acquisition of Loadshift, a heavy haulage transport marketplace.

After reaching an intraday high of $1.08 in early trading, the Freelancer share price plummeted to $1.00 before surging back to $1.05 at the time of writing, up 5%.

Engaged in freelancing, outsourcing services, and crowdsourcing marketplace, Freelancer offers software development, writing, data entry and design services.

Acquisition lifts the Freelancer share price

In today’s update, Freelancer announced that its partially owned subsidiary, Freightlancer, had acquired Loadshift for $7.7 million.

Founded in March 2007, Loadshift has grown to become Australia’s largest online heavy haulage freight marketplace with 68,837 freight requests for 85.8 million kilometres of freight required in CY 2020. In FY20, Loadshift reported delivering an earnings before interest, tax, depreciation and amortisation (EBITDA) of approximately $766,000.

Freelancer owns 53% of its partially owned subsidiary.

New investors, new CEO

The company also advised today that Freightlancer had received a $3.7 million investment from Maas Group Holdings (ASX: MGH) chief executive officer (CEO) Wes Maas, and EMS Group CEO Tom Cavanagh.

Startive Ventures, a venture fund focused on global technology and internet startup opportunities, also participated in investment.

EMS is now a division of Maas, a diversified industrial group with services expanding across construction materials, property, civil infrastructure and underground mining and tunnelling divisions.

Cavanagh will join Freightlancer as chief executive officer, bringing his 20 years of experience in mining, tunnelling, civil construction and technology industries.

The Freelancer share price has been surging

The Freelancer share price has surged more than 70% since the listing of Airtasker Ltd (ASX: ART) on 23 March.

Before that, the Freelancer share price had been range-bound, bouncing back and forth between 45 cents and 62 cents since September 2020.

From a financial and operational perspective, the company has also performed strongly with its quarterly results showing an uplift in gross payment volumes and cash receipts.

More reading

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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a modest gain. At the time of writing, the benchmark index is up slightly to 7,032.7 points.

Four ASX shares that are climbing more than most today are listed below. Here’s why they are rising:

Corporate Travel Management Ltd (ASX: CTD)

The Corporate Travel Management share price is up 4% to $20.18. Today’s gain appears to have been driven by a broker note out of Macquarie this morning. According to the note, the broker has upgraded the corporate travel company’s shares to an outperform rating with a $20.75 price target. It made the move amid signs of a strong recovery in the US and ANZ markets.

Domino’s Pizza Enterprises Ltd (ASX: DMP)

The Domino’s Pizza share price has risen 3% to $107.00. Once again, this gain appears to have been driven by a broker note. On this occasion, Citi has upgraded the pizza chain operator’s shares to a neutral rating and increased the price target on them materially to $104.20. Citi believes Domino’s could expand into several new European countries in the near future, extending the potential size of its network significantly.

Kogan.com Ltd (ASX: KGN)

The Kogan share price has jumped 10% to $9.56. This gain appears to have been driven by bargain hunters taking advantage of a sharp pullback on Friday following another bitterly disappointing result. In addition, short sellers could be buying back shares to close positions.

Zip Co Ltd (ASX: Z1P)

The Zip share price is up 2.5% to $7.21. This morning the buy now pay later (BNPL) provider announced its expansion into Europe and the Middle East. It will do this via the acquisition of European BNPL provider Twisto Payments and UAE-based BNPL provider Spotii. Zip had previously bought stakes in both companies. Management notes that the transactions align with Zip’s global expansion plans and the rapidly accelerating global BNPL opportunity.

More reading

• Leading brokers name 3 ASX shares to buy today
• ASX 200 up 0.1%: Aristocrat results, Zip’s global expansion continues
• Zip (ASX:Z1P) share price higher on European and Middle East expansion news
• These are the 10 most shorted shares on the ASX
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With so many shares to choose from on the ASX, it can be hard to decide which ones to buy. The good news is that brokers across the country are doing a lot of the hard work for you.

Three top ASX shares that leading brokers have named as buys this week are listed below. Here’s why they are bullish on them:

Corporate Travel Management Ltd (ASX: CTD)

According to a note out of Macquarie, its analysts have upgraded this corporate travel specialist’s shares to an outperform rating with an improved price target of $20.75. The broker made the move amid signs of a strengthening recovery in travel, particularly in the United States, Australia, and New Zealand. It appears optimistic that this will continue thanks to the rapid vaccine rollout in the U.S. and falling numbers of COVID cases. This has led to Macquarie lifting its revenue forecasts for the coming years. The Corporate Travel Management share price is fetching $20.05 today.

Fisher & Paykel Healthcare Corp Ltd (ASX: FPH)

A note out of Credit Suisse reveals that its analysts have retained their outperform rating and lifted their price target on this medical device company’s shares to $34.00 ahead of its full year results release. Credit Suisse is forecasting a result well ahead of the company’s guidance it gave with its half year results. This is expected to be driven by rapid growth from COVID-19 related sales. The Fisher & Paykel Healthcare share price is trading at $31.18.

Northern Star Resources Ltd (ASX: NST)

Another note out of Macquarie reveals that its analysts have retained their outperform rating and increased the price target on this gold mining giant’s shares to $13.30. The broker lifted its price target to account for an increase in the valuation of several of its operations. This offset a reduction in its earnings per share estimates. The Northern Star share price is currently fetching $11.32.

More reading

• Why Corp Travel, Domino’s, Kogan, & Zip shares are storming higher
• ASX 200 up 0.1%: Aristocrat results, Zip’s global expansion continues
• ASX 200 Weekly Wrap: ASX whipsaws in volatile week
• 5 things to watch on the ASX 200 on Monday
• ASX gold shares can thank bitcoin for their brightening outlook

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The Temple & Webster Group Ltd (ASX: TPW) share price could be a compelling idea for a few different reasons.

The online furniture and homewares business has seen its share price fall by around 17% since 29 April 2021.

These are some of the reasons why the e-commerce business could be an interesting opportunity:

Continued growth

Businesses that are delivering actual revenue growth are the ones that can grow net profit and gives a better chance of producing shareholder returns.

Temple & Webster delivered a lot of growth in 2020 but that growth has continued into 2021.

In the third quarter of FY21, being the three months to 31 March 2021, it saw revenue growth of 112%. Active customers increased to around 750,000 at the end of the third quarter.

April 2021 revenue was also up more than 20% compared to the prior corresponding period of April 2020 which was the fastest growing month last year during the COVID-19 lockdowns. It hasn’t seen a decline in sales like other businesses.

The COVID-19 cohorts continue to perform better than shoppers that have been around for longer.

Positive trends

Temple & Webster believes that trading suggests COVID-19 has permanently accelerated online adoption in the Australian furniture and homewares market.

The ASX share estimates more than 20% of furniture and homewares was bought online in the US during 2020, and the company believes Australia is following the same trajectory.

Temple & Webster has estimated that in 2020, around 9% of Australian furniture and homewares were bought online, an almost doubling of the 5% bought in 2019.

Management believes that online penetration in both markets is expected to continue to increase significantly.

Investing for more growth

The ASX share plans to invest for growth and improve its online market leadership position. The company believes there’s the potential for significant online market growth and longer-term returns.

It’s planning to build strong brand awareness to achieve national brand status within the next three years by investing in mainstream media to drive both first time and repeat customers. The company plans to use tactical pricing and promotions to increase conversion.

Another part of the plan is that it wants to strengthen its customer experience through enhanced technology, data and personalisation and delivery experience. It’s going to invest into 3D and artificial intelligence capabilities to make the customer shopping journey easier.

Temple & Webster wants to further differentiate its range through new category additions, private label expansion, new product development and launching exclusive ranges with its key drop ship suppliers.

The final point that the company is focused on growing its commercial sales and operational teams to capitalise on returning demand in business to business sales.

During this period of heavy investing for growth, it’s going to maintain its earnings before interest, tax, depreciation and amortisation (EBITDA) margin level at between 2% to 4%.

Over the longer-term it’s expecting to generate higher profit margins than offline competitors with scale benefits.

The Temple & Webster CEO Mark Coulter said:

You only need to look at the US to see how the e-commerce market is playing out, and why we remain bullish about the shift from offline to online. We are at the start of this once in a generation shift and now is the time to put our foot down to secure market leadership and ensure we are the brand for the next generation of furniture shopper.

More reading

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• These are the 10 most shorted shares on the ASX

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