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The Carpentaria Resources Ltd (ASX: CAP) share price has seen better days, after falling deep in negative territory today. This follows the miner’s update on the Hawsons joint venture sale agreement.

At the time of writing, Carpentaria shares are fetching for 14.5 cents, down 9.3%. During early afternoon trade, the company’s share price hit an intraday low of 13.5 cents.

What did Carpentaria announce?

It’s been a difficult day for Carpentaria shareholders as its price has plummeted after reaching a multi-year high yesterday. A likely catalyst for the fall is due to more Carpentaria shares being put on the company’s registry.

In its announcement, Carpentaria advised that the joint venture sale agreement of the Hawsons Project has been completed. The outcome was approved by shareholders at the company’s Annual General Meeting (AGM) on 2 November 2020.

Under the agreement, Carpentaria will acquire a 24.149% interest in the Hawsons Iron Project. In return, the company will issue Pure Metals 90.8 million Carpentaria shares, with 45 million shares being allotted today. The remaining 45.8 million shares are expected in the coming days.

Carpentaria noted that the consideration of shares being issued is divided into 2 single tranches for legal reasons.

In addition, Carpentaria introduced institutional investors to Pure Metals, who have committed to buy all of the 90.8 million shares. To facilitate the move, Pure Metals appointed Shaw and Partners’ Wholesale Trading team to act on their behalf.

Carpentaria executive chair, Bryan Granzie commented:

This is a monumental day for Carpentaria as we can now move forward with renewed confidence and with widespread shareholder support.

We look forward to working with our many stakeholders as we turn our attention to the next major milestone, successfully completing the bankable feasibility study. The path forward is certainly looking brighter and with the analysis previously validated by pre-eminent resource analyst Wood McKenzie we can take a huge step towards developing our world-class iron ore project and taking our highest quality products to market in the best interest of our shareholders

Carpentaria share price snapshot

Over the past year, Carpentaria shares have travelled almost at a standstill until this month, rising 245% in 30 days. The incredible feat broke the company’s multi-year share price, hitting the 18-cent mark.

Carpentaria commands a market capitalisation of roughly $55 million, with more than 380 million shares on issue.

More reading

• Why the Carpentaria (ASX:CAP) share price is rocketing 54% today

Motley Fool contributor Aaron Teboneras 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 Helix Resources Ltd (ASX: HLX) share price is one of the best performers on the ASX today. This follows the mineral exploration company’s update on its recent capital raising efforts.

At the time of writing, Helix shares are swapping hands for 4.4 cents, up 41.94%. It’s also worth noting that the company’s share price hit a multi-year high of 4.5 in early afternoon trade.

What did Helix announce?

Investors are fighting to get a hold of Helix shares after the company provided an update on its placement.

According to its release, Helix advised it has received binding commitments to raise $4.03 million by way of placement. Furthermore, approximately 149.4 million new ordinary shares will be issued at 2.7 cents each to participating institutional and sophisticated investors. This represents a discount of 13% on the last closing price of 3.1 cents per share.

The company will use its existing placement capacity to create new shares. Under listing rule 7.1, this allows up to 15% of its shares to be issued without shareholder approval.

Therefore, funds raised from the placement will be allocated towards the company’s aggressive drilling program at the Canbelego and CZ projects. High-grade copper mineralisation is also being targeted on its Cobar tenements in central New South Wales.

Settlement of the shares is expected to occur on 26 May 2021, with allotment the same day.

The lead manager of the placement, JP Equity Partners, will retain a 6% fee. In addition, the issue of 10 million options at a price of 5.4 cents with a 3-year expiry is also on offer.

Helix managing director, Mike Rosenstreich commented:

Our team is very excited to be able to lock-in an increased level of drilling. We now plan to have a drill rig on site virtually for the remainder of the year testing extensions to the known high-grade copper mineralisation as well as regional scale drilling to advance some of the targets reinforced by the recent airborne geophysical survey. The next six months will not be dull!

Helix share price review

Over the past 12 months, Helix shares have stormed close to 650% higher, reflecting positive investor sentiment. Year-to-date performance has also increased to post a gain of 340%.

Based on valuation grounds, Helix commands a market capitalisation of roughly $48 million, with over 1 billion shares on issue.

More reading

• Why the Helix (ASX:HLX) share price is rocketing 129%

Motley Fool contributor Aaron Teboneras 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 Afterpay Ltd (ASX: APT) share price has waned recently from being one of the best ASX performers.

A dampening of optimism for growth shares caused by inflation worries has contributed to a 46% fall in the Afterpay share price since the company’s 52-week high of $160.05 on 10 February.

While analysts have been contending over price targets for the buy now, pay later (BNPL) provider, Afterpay’s venture capital arm, AP Ventures, has been searching for its next investment.

What is AP Ventures?

Like other companies, Afterpay has a segment of its business that is solely focused on deploying capital in growth opportunities. The investment vehicle came to life from CEO Anthony Eisen reaching out to former Investec Australia senior banker Hein Vogel.

Afterpay holds a 44% interest in AP Ventures and is often its biggest contributor to its investments. The venture fund’s website specifies that it “provides high growth, scalable companies that have proven revenue models with access to capital and, where appropriate, Afterpay’s experience, merchants and customers”.

For context, prior AP Ventures’ investments include LayAway. This offering allows customers to pay for holidays, flights, cruises etc, using a payment plan. LayAway was snapped up for $15 million, of which $6.5 million was from Afterpay.

Afterpay investment rumours outside the ASX

As reported by The Australian, AP Ventures is believed to be readying to purchase a services provider for small to medium-sized business merchants. The suspected figure is floating in the region of $45 million.

Currently, there isn’t much more light being shed on exactly which company it is in question. It wouldn’t be surprising to see a consolidation within the industry, given how popular the space has become in recent years.

There have been dozens of companies on the ASX alone aspiring to the likes of Afterpay and Zip Co Ltd (ASX: Z1P). However, if the environment was to become more challenging, the smaller fish may not survive the rougher waters.

At the time of writing, the Afterpay share price is trading at $86.19, representing a fall today of 0.3%.

More reading

• A2 Milk and Zip were among the most traded ASX shares last week
• Why Zip (ASX:Z1P) and this beaten down ASX tech share could be buys
• Why the Zip (ASX:Z1P) share price is down almost 25% this month
• These ASX tech shares are down 50% from their 52-week highs
• US market bounces back, ASX 200 tech shares on watch

Mitchell Lawler owns shares of AFTERPAY T FPO. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of AFTERPAY T FPO and ZIPCOLTD FPO. 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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Fortunately, in this low interest rate environment, there are countless dividend shares for investors to choose from on the Australian share market.

But with so many to choose from, it can be hard to decide which ones to buy. To narrow things down, I have picked out three ASX dividend shares brokers think investors should buy:

Bendigo and Adelaide Bank Ltd (ASX: BEN)

According to a note out of Macquarie, its analysts have retained their outperform rating and $11.00 price target on this regional bank’s shares. This follows a review of the banking sector following the recent flurry of results and updates. Macquarie is forecasting dividends of 52 cents per share in FY 2021 and 50 cents per share in FY 2022 from the bank. Based on the current Bendigo and Adelaide Bank share price of $10.23, this will mean fully franked yields of 5.1% and 4.9%, respectively, over the next two years.

Suncorp Group Ltd (ASX: SUN)

A note out of Citi reveals that its analysts have upgraded this banking and insurance giant’s shares to a buy rating with an $11.80 price target. The broker made the move following Suncorp’s banking investor forum earlier this week. Citi believes the company’s medium term targets offer decent upside potential if it can achieve them. Though, it has warned that improvements may take some time, so investors may need to be patient. In the meantime, though, it is forecasting Suncorp’s shares to provide dividends of 56 cents per share in FY 2021 and 58 cents per share in FY 2022. Based on the current Suncorp share price of $10.62, this equates to 5.3% and 5.5% yields.

Woolworths Group Ltd (ASX: WOW)

Another note out of Macquarie reveals that its analysts have retained their outperform rating and $44.50 price target on this retail conglomerate’s shares. Macquarie has been running the ruler over its demerger of the Endeavour Drinks business and remains positive on the move. Particularly given the potential for upwards of $2 billion in capital management initiatives post-merger. For now, the broker is forecasting dividends of ~$1.06 per share in FY 2021 and ~$1.18 per share in FY 2022. Based on the current Woolworths share price of $40.80, this will mean fully franked yields of 2.6% and 2.9%, respectively.

More reading

• ASX 200 Weekly Wrap: After record high, ASX dips on inflation fears
• Top brokers name 3 ASX shares to buy next week
• The Bendigo Bank (ASX:BEN) share price has outperformed the big four
• 2 ASX 200 blue chip shares rated as buys
• Why Ausnet, Qantas, Suncorp, & Sydney Airport shares are tumbling lower

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of Woolworths 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 Silver Mines Limited (ASX: SVL) share price is rocketing, up 14% in afternoon trading. Shares in the ASX resource explorer are now up 27% since last Thursday’s closing bell.

Below we take a look at the company’s latest update at its Bowdens Silver Project in central New South Wales, which it reports is the largest undeveloped silver deposit in Australia.

What drill results did Silver Mines report?

Silver Mines’ share price is soaring after the company announced it is substantially expanding drilling at Bowdens Silver.

This follows on Friday’s announcement (which also saw shares surge) on the Aegean Zone, “a high-grade vein system located beneath the bulk-tonnage Ore Reserve in the Main Zone area of Bowdens”.

The company said that the recent success of its drilling, which identified new silver feeder veins, led it to expand the exploration program at Bowdens Silver.

Silver Mines currently has 4 drilling rigs on-site as part of the expanded program which will see 30,000 metres of diamond drilling.

According to the release, recent drill analysis has identified “individual steep feeder veins considered to be source structures to the main Bowdens Silver mineralisation”. At Bowdens, these contain the highest-grade mineralisation and extend to depth.

One recently identified individual structure Silver Mines highlights – the Northern Feeder Vein – “is interpreted over a strike of at least 120 metres and to a depth of 260 metres”. That’s produced a silver grade of more than 1,000 grams (30 ounces) per tonne.

The company is now targeting additional steep feeder vein zones in the central and southern parts of the Bowdens Deposit and is investigating the potential for underground mining at the high-grade Aegean Zone and the Northwest High-Grade Zone.

Silver Mines expects the expanded drilling program will continue through the end of 2021, or longer.

Silver Mines share price snapshot

It’s been a fine year for Silver Mines’ shareholders, with shares soaring 158% over the past 12 months. By comparison the All Ordinaries Index (ASX: XAO) gained 31% over that same time.

Year-to-date the Silver Mines share price is up 19%.

More reading

• Here’s why the Silver Mines (ASX:SVL) share price is on the rise today

Motley Fool contributor Bernd Struben 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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There are a handful of ASX shares that multiple brokers rate as buys.

It might be worth paying attention when plenty of brokers all think the same business is worth looking at.

Either it means that most analysts are calling out a clear opportunity. Or they’re all wrong at the exact same time.

These two ASX shares are highly rated by multiple brokers:

Baby Bunting Group Ltd (ASX: BBN)

The ASX retail share that specialises in selling products for babies and infants is currently rated as a buy by at least five brokers.

One of the brokers that likes Baby Bunting is Morgan Stanley, which has a price target on the business of $6.30.

The broker is attracted to Baby Bunting’s continuing sales strength as well as its gross profit margins. Despite the heavy investment into growth, Baby Bunting is still achieving revenue growth and could reach $1 billion of annual sales in FY30.

Baby Bunting is seeing exceptionally strong online sales growth. In the first half of FY21, total online sales increased 95.9% and click and collect sales went up 218%.

All of the relevant HY21 profit margins increased, leading to solid growth for the bottom line. Total sales rose 16.6% to $217.3 million, the gross margin increased 41 basis points to 37.4%, pro forma earnings before interest, tax, depreciation and amortisation (EBITDA) rose 29.7% to $18.5 million and pro forma net profit went up 43.5% to $10.8 million.

Private label and exclusive product revenue rose 28.2% to be 39% of total sales. It’s targeting above 40% for FY21 and continues to aim for 50% of sales to come from private label and exclusive products.

The ASX share continues to grow its store network in Australia. It currently has 59 stores and has plans for over 100. Baby Bunting also plans to open at least 10 stores in New Zealand.

According to Morgan Stanley, the baby Bunting share price is valued at 29x FY22’s estimated earnings.

Newcrest Mining Limited (ASX: NCM)

Newcrest is one of the largest gold miners in the world with a market capitalisation of just over $23 billion.

It’s currently rated as a buy by at least seven brokers including Morgans, which believes it can benefit from stronger silver and copper prices.

Morgans has a price target on Newcrest Mining over the next 12 months of $30.95.

In the quarter ending 31 March 2021, Newcrest reported that gold production was 4% lower than the prior period. However, the gold production was higher than the quarter ending 30 September 2020.

There was planned shutdown events at Cadia and Lihir as expected. On the positive side of things, Newcrest’s all-in sustaining cost for the quarter was $891 per ounce, which was $72 per ounce lower than the prior period. Newcrest said it’s very well positioned to fund organic growth opportunities, with a strong balance sheet and long-dated debt maturity profile. The balance sheet has been further improved with the early repurchase of outstanding corporate bonds and the maturity extension of existing undrawn bank debt facilities.

More reading

• Newcrest (ASX:NCM) share price in focus with carbon neutrality pledge
• ASX 200 Weekly Wrap: After record high, ASX dips on inflation fears
• 5 things to watch on the ASX 200 on Monday
• Why is the De Grey (ASX:DEG) share price plummeting today?
• Brokers name 3 ASX shares to buy now

Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Baby Bunting. 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 Podium Minerals Ltd (ASX: POD) are being blown out of the water again today, and with no news from the company, market watchers are scratching their heads.

At the time of writing, the Podium share price is up 19.4%, with shares in the company swapping hands for 80 cents.

Podium is a precious metals exploration and resource development company. Its current focus is on platinum group metals, gold, and nickel-copper sulphides. Its major project is Parks Reef, located in Western Australia.

Today’s gains have added even more momentum to the Podium share price’s recent meteoric rise. It’s gained 63% since the start of the month –including a 15.5% gain yesterday. Most of those increases have come in the last week, during which there has been no news from Podium. 

So, what’s Podium been up to lately? Let’s take a look.

Mad May

May has been a huge month so far for Podium and the explorer has kept the ASX updated throughout.

Podium’s first news of the month was that it had found rhodium and iridium in assay results from its Park Reef Project.

On 5 May, the news pushed the Podium share price up 27% during intraday trade, though it closed only 5% higher than the previous session.

Podium Minerals executive chair Clayton Dodd said at the time the company was delighted to find the metals – particularly as the price of rhodium was around 20 times that of platinum.

Next, Podium announced it received permission and funding from the Western Australian Government to complete two diamond drilling holes in Parks Reef on 11 May.

The state government is to pay 50% of the cost of drilling the holes. Podium will use the holes to test for mineral deposits 500 metres below the earth’s surface.

Further, the price of platinum and gold, both of which are found at Park Reef, has increased over the last month. This could also be helping to drive the Podium share price.

Podium Minerals share price snapshot

The combination of good news from Podium Minerals might be the reason its share price is flying high on the ASX.

Currently, the Podium Minerals share price is up 627% year to date and has risen a monstrous 3,850% over the past 12 months.

The company has a market capitalisation of around $187 million, with approximately 280 million shares outstanding.

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ASX lithium heavyweights, Galaxy Resources Limited (ASX: GXY), Pilbara Minerals Ltd (ASX: PLS), and Orocobre Limited (ASX: ORE) marked a fifth straight session of losses on Monday.  

Galaxy and Orocobre have extended the losing streak on Tuesday. However, the Pilbara finally ticked green, bouncing 4.19% to $1.12 at the time of writing. 

Why ASX lithium shares are selling off 

Commodities take a breather 

The broader commodities sector experienced a sharp pullback between 11 to 14 May. During this time, the S&P/ASX200 Materials (INDEXASX: XMJ) index fell 4.80%. Main laggards included heavyweights BHP Group Ltd (ASX: BHP) and also Fortescue Metals Group Ltd (ASX: FMG). 

The weakness across the commodities sector likely dragged ASX lithium shares lower or capping any potential upside. 

Weakness in lithium-related industries 

The Global X Lithium & Battery Tech ETF (NYSEARCA: LIT) is made up of companies involved in the lithium cycle, from mining and refining the material to battery and electric vehicle production. 

The exchange traded fund‘s (ETF) largest positions include Albemarle, the world’s largest provider of lithium for electric vehicle batteries and Ganfeng Lithium, the worlds third largest diversified lithium player. In addition, Contemporary Amperex Technology, a Chinese battery manufacturer. 

After surging as high as US$74.80 by mid-February 2021 from a pre-COVID high of ~US$33, the ETF experienced a sharp 25% selloff. This has brought it back down to the US$50 level. The lithium ETF is currently down approximately 2% year-to-date.

The flat year-to-date performance and recent selloff of the ETF reflects weakness across the lithium. This comes all the way down the supply chain from miners through to battery producers. The weak sentiment could be a factor weighting on ASX lithium shares. 

The bigger picture 

While the share price of ASX lithium shares might be taking a breather, the lithium landscape continues to make headway.

Lithium spot prices are still running hot in 2021. Furthermore, the latest update from Fastmarkets highlights an uptick in both lithium carbonate and hydroxide prices in Asian markets due to tight supply availability. 

Pilbara’s corporate presentation on 11 May highlights the continued tailwinds including the global commitment to achieve carbon neutrality and strong electric vehicles sales in both China and Europe.

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It has been another day in the red for the A2 Milk Company Ltd (ASX: A2M) share price on Tuesday. At one stage today, the fresh milk and infant formula company’s shares fell 4% to a multi-year low of $5.12.

When the a2 Milk share price hit that level, it meant it was down almost 75% from its 52-week high.

Where next for the a2 Milk share price?

Opinion is largely divided on whether the a2 Milk share price is a bargain buy or a value trap following its sizeable decline.

Though, one thing that is for sure, is that it may not be as cheap as you think despite shedding 75% of its value.

For example, analysts at Credit Suisse are forecasting the company reporting earnings per share of ~11.2 cents in FY 2021 and then ~17.7 cents in FY 2022. This means the a2 Milk share price is trading at 46x estimated FY 2021 earnings and 29x estimated FY 2022.

As a comparison, the Kogan.com Ltd (ASX: KGN) share price, which has also fallen heavily, is trading at 24x estimated FY 2021 earnings and 22x estimated FY 2022 earnings, according to Credit Suisse’s forecasts.

Based on the above, this would arguably make Kogan the more attractive option for investors. It is no wonder then that Credit Suisse has a sell rating and $5.00 price target on a2 Milk’s shares and a buy rating and $17.93 price target on Kogan’s shares.

What about other brokers?

It is worth noting that Credit Suisse is one of the more bearish brokers when it comes to a2 Milk. This is due to its concerns that Chinese consumers are shifting towards local brands and the daigou channel may never return to what it used to be.

But not everyone is as bearish. Analysts at Bell Potter, for example, have a buy rating and $8.50 price target on the company’s shares. While this is still a long way from its high, based on the current a2 Milk share price, this still implies potential upside of approximately 65% over the next 12 months.

Bell Potter is anticipating a stronger recovery in FY 2022 and is forecasting earnings per share of 28.9 cents. If this is accurate, the company’s shares are currently trading at a much more reasonable 18x estimated FY 2022 earnings.

However, given the incredibly high level of uncertainty it is facing, only time will tell which broker made the right call.

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The PPK Group Limited (ASX: PPK) share price is having a bumper day on Tuesday. This comes after the technology and mining equipment company announced a technological breakthrough.

At the time of writing, PPK Group shares are fetching $12.10 apiece, up 8.52% for the day. In earlier trade, the company’s shares reached a new record high of $12.90 before partially retreating.

What’s pushing PPK Group shares higher?

Investors are fighting to get a hold of PPK shares after the company announced an update regarding a revolutionary lithium-sulphur battery.

According to its release, PPK Group’s 48%-owned subsidiary, Li-S Energy has developed a new lithium-sulphur battery using boron nitride nanotubes (BNNT) technology. The scientific discovery was achieved along with its partner and fellow shareholder, Deakin University.

Previously, PPK Group highlighted the significant potential of BNNT however, the material could only be produced in small quantities. To help solve this problem, BNNT Technology, a 50% subsidiary of PPK Group used breakthrough Deakin University technology.

Since then, BNNT Technology yielded 5 kilos of BNNT across a 5-day period from a single production module. The result achieved above 95% purity. This signifies a strong advance in technology as just 2 years ago, only 1 kilo of BNNT per year could be produced.

PPK stated that lithium sulphur (Li-S) batteries are next-generation batteries with a significantly higher energy capacity than existing lithium-ion batteries. However, they have a severe limitation with lifetime performance, typically failing over very few charge and discharge cycles.

In response to this, Deakin’s Nanotechnology research team has developed (BNNT) to improve the performance of Li-S batteries. So far, the material retains a high-energy capacity and avoids significant degradation on more than 450 charge/discharge cycles. The research team is looking at further increasing the product’s cycle capacity.

Li-S has now lodged two key patents covering the function of BNNT and the technology within. According to PPK, covered by the new patents, Li-S has the commercial opportunity to create large-scale manufacturing of lithium-sulphur batteries.

Over the coming years, Li-S plans to finalise the design and scale-up production of the new batteries. Such applications include charging an electric vehicle after 1,000 kilometres of driving, off-grid solar/battery street lighting and more.

Li-S Energy and BNNT Technology are both joint ventures between Deakin and PPK Group. Li-S Energy recently completed a capital raise of $20 million to support the ongoing development of Deakin’s technology.

Management commentary

PPK executive chair, Robin Levison commented:

For me personally, this is a really exciting moment for PPK. What we see here is a real-life tangible application of BNNT to facilitate a genuine technological breakthrough with global commercial potential. This new type of lithium sulphur battery demonstrates how the unique attributes of this truly amazing product can be realised in practice.

Li-S CEO Dr Lee Finniear went on to add:

We have achieved a significant innovation breakthrough with our Li-S battery technology at a time when the world is demanding better batteries and more efficient energy storage devices. The commercialisation journey for Li-S Energy Limited has begun and is on track to showcase this Australian company as a recognised leader in this exciting industry.

Lead Deakin researchers Alfred Deakin Professor Ying (Ian) Chen and Dr Baozhi Yu noted:

These results are the culmination of 10 years of research into the development of lithium sulphur batteries and how that is influenced by advanced nanomaterials. The belief and investment in the research program from Li-S Energy have now enabled us to bring our research toward a commercial reality.

PPK Group share price review

Over the last 12 months, the PPK Group share price jumped by more than 200%, with year-to-date performance above 100%. 

Based on valuation grounds, PPK Group commands a market capitalisation of roughly $1 billion, with approximately 89 million shares outstanding.

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

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