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At the small end of the Australian share market, there are a number of companies with the potential to grow materially in the future.

Three that investors might want to keep a close eye on are listed below. Here’s what you need to know about them:

IntelliHR Ltd (ASX: IHR)

The first small cap ASX share to watch is IntelliHR. It is a cloud-based human resources and people management platform provider. Last month IntelliHR released a trading update which revealed that its expansion into the United Kingdom was going exceptionally well. Thanks partly to this, at the end of April the company’s annual recurring revenue (ARR) had reached $3.55 million. This was double what it reported a year earlier. Positively, the company looks well-placed to continue its solid growth in the coming years thanks to the shift to the cloud and the quality of its software.

PlaySide Studios Limited (ASX: PLY)

Another small cap ASX share to watch is PlaySide Studios. It is a growing independent video game developer with an expanding portfolio of games. These include games based on its own original intellectual property and those through licensing deals with Hollywood studios such as Disney. During the first half of FY 2021, PlaySide reported record first half sales revenue of $5 million. This was up 63% on the prior corresponding period. Pleasingly, this is just a very small slice of its global market opportunity. Management estimates that it has a US$159 billion global addressable market, which gives it a very long runway for growth.

SILK Laser Australia Limited (ASX: SLA)

A final small cap ASX share to watch is SILK Laser. It is a laser, skin care, and cosmetic injections company that has been performing very strongly in FY 2021. In February, SILK Laser released its half year results and revealed a 62% increase in network sales to $44.9 million. Things were even better on the bottom line, with net profit growing 305% to $4.7 million. Positively, this strong form is expected to continue in the second half. Looking further ahead, management sees plenty of opportunities to expand its network to drive growth. At present, SILK has a total of 56 clinics in operation, but management intends to grow its network by 6 to 10 new clinics per annum up to a total of approximately 150 clinics.

More reading

• Little ASX software share to explode once everyone wakes up: fundie
• Why the IntelliHR (ASX:IHR) share price is soaring 16% today
• 3 under the radar ASX small cap shares to watch closely
• 3 exciting small cap ASX shares to watch
• Top brokers name 3 ASX small cap shares to buy

Motley Fool contributor James Mickleboro 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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Aldoro Resources Ltd (ASX: ARN) shares were booming today after the company announced it has commenced drilling at its Narndee project. By the market’s close, the Aldoro share price was trading 8.2% higher at 33 cents.  

Let’s take a closer look at the gold and nickel miner’s latest news. 

Drilling kicks off

The Aldoro share price had a bumper day after the company announced frontline drilling at its 100%-owned project site has begun. Aldoro advised that the drilling was being undertaken in areas where it’s already found “high confidence” anomalies, with fixed loop electromagnetic surveys. It’s also secured a diamond drilling contractor, which it expects to be on-site in June.

Aldoro is targeting a 5,000-metre program at Narndee, near Cooladar Hill in Western Australia, with the ability to increase its program size if it receives promising results. The current drilling is focused on three confirmed target sites within that zone.

The company says its initial drilling holes will also act as “dual-purpose inspection holes” to gauge the suitability of those targets for further down-hole transient electromagnetic surveys.

The Narndee project is situated on clay bedrock, which has the possibility to produce misleading results. 

These surveys improve the accuracy of any future drilling locations, reducing the risk of expensive drilling in redundant targets. The original surveys were conducted by independent geologists from Southern Geoscience Consultants.

Aldoro is also in the process of finalising a gradient array (GAIP) survey. GAIP is an electrical geophysical technique that has the ability to identify disseminated sulphide mineralisation, a type of ore that often contains copper and zinc deposits.

Background

Aldoro shares listed on the ASX in September 2018. The company conducts mineral exploration and development and has a collection of gold and nickel-focused advanced exploration projects all located in Western Australia.

The Narndee Igneous Complex, which comprises the project Aldoro has just begun drilling, is its flagship drilling region. The company has previously found it to be “highly prospective” for nickel, copper and platinum group (platinum, palladium, rhodium) mineralisation.

The company’s other projects include the Cathedrals Belt Nickel Project near Mount Alexander in WA and four separate gold tenements, which are currently under company review.

Aldoro share price snapshot

The Aldoro share price appears to be finding steady ground over the past two weeks after doubling between early March and mid-April. On 19 April, the company’s shares hit an intraday high of 45.5 cents before gradually retreating to their current levels. Aldoro shares have also gained more than 100% so far in 2021. 

More reading

• What drove the Commonwealth Bank (ASX:CBA) share price this week?
• Here’s why the Moelis (ASX:MOE) share price has lifted today
• Why this broker thinks the Westpac (ASX:WBC) share price is great value
• Centuria Capital (ASX:CNI) share price rises as merger edges closer
• Why is the De Grey (ASX:DEG) share price plummeting today?

Motley Fool contributor Lucas Radbourne-Pugh 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 Commonwealth Bank of Australia (ASX: CBA) share price is up 0.7% in late afternoon trading.

While it retraced some from mid-day all-time highs, CBA looks set to finish the day at a new record closing high, surpassing the $96.17 per share it hit back in March 2015.

CBA’s shares gained 2.5% for the week, chalking up 4 days of positive momentum. Tuesday, 11 May, was the only day that the Commonwealth Bank share price reversed, falling 0.6%.

CBA handily outperformed the S&P/ASX 200 Index (ASX: XJO) this week. The ASX 200 finished the week down 1.6%. That’s despite the index rebounding today from a 3-day losing streak triggered by investors’ inflation fears.

Commonwealth Bank investors didn’t share that wider fear. Rising inflation could signal the beginning of the end to rock bottom interest rates, which have negatively impacted the returns of all the big banks.

Partnerships, Q3 results drive Commonwealth Bank share price

The week started well for Commonwealth Bank as it breached its 52-week highs on Monday.

That came on the back of a partnership announcement with US-listed e-commerce operator Bigcommerce Holdings Inc (NASDAQ: BIGC). CBA said the new partnership will help grow its online presence, with plans to use Bigcommerce Holdings’ platform to advance its business banking sector.

Wednesday was another strong day for Commonwealth Bank shareholders following the release of the company’s third quarter update. Among the highlights, CBA’s cash net profit after tax increased 24% from the quarterly average over the first half of the 2021 financial year, reaching $2.4 billion.

Commonwealth Bank shares gained 1.05% on Wednesday.

Commonwealth Bank snapshot

With today’s gains factored in, the Commonwealth Bank share price is now up 62% over the past 12 months. CBA has continued to outperform in 2021, with shares up more than 15% year-to-date.

At the current price of $96.64 per share, Commonwealth Bank pays an annual dividend yield of 2.6%, fully franked. CBA has a market cap of $170.3 billion.

More reading

• Why is the Magellan (ASX:MFG) share price up 4% today?
• The Commonwealth Bank (ASX:CBA) share price hits new record high
• What resurgent inflation really means for your ASX shares
• ASX 200 up 0.8%: Xero continues to slide, big four banks rise
• 5 things to watch on the ASX 200 on Friday

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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The Moelis Australia Ltd (ASX: MOE) share price spent a day in the green today after the company released an investor presentation and operational update.

Moelis shares are trading up 3.9% at $5.58 as the market close draws near.

Let’s take a look at what’s behind the Moelis share price increase today.

Moelis operational update

In today’s release, the financial services company reported strong net fund inflows and a significant increase in assets.

Recapping the results from its first four months of trading in FY21, Moelis reported strong net fund inflows of $340 million, up $115 million on the prior corresponding period.

It grew its portfolio of assets under management by 7% to $5.8 billion and settled on four new hotels worth a combined $135 million, that were exchanged in FY20.

The company has been granted a retail Australian Finance Licence (AFSL2) and launched its first two retail credit funds. Moelis also hired 5 new executives in its corporate advisory branch, including 2 new managing directors.

Looking ahead

Moelis is forecasting bright results for the company’s future, given it currently has more than $300 million of new real assets under due diligence for new and existing funds. 

The company’s management reiterated its expectation that FY21 underlying earnings per share (EPS) will increase between 10% and 20% on FY20, with the prediction that it will closer to the 20% mark. 

Overall, it’s been a sharp rise for the Australian company, which started operating in Australia in 2009 and was achieving revenue of $60 million by its seventh year of operation. Its corporate advisory network now spans 18 countries..

The group is proposing to change its name to MA Financial this year. The Moelis board believe a brand transition as necessary given its expanding financial services profile.

Moelis share price snapshot

The Moelis share price is moving closer to doubling its $2.99 value of 12 months ago, rising 81% in this period. It’s also added 18% since 2021 began.

The company’s turnaround has been significant, given that as recently as February this year its 12 monthly performance was in the red after being hammered during the COVID-19 pandemic.

More reading

• Why Humm, Moelis, Orica, & Treasury Wine shares are storming higher

Motley Fool contributor Lucas Radbourne-Pugh 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 Westpac Banking Corp (ASX: WBC) share price was on form on Friday.

The banking giant’s shares ended the week with a 1% gain to $25.41.

This means the Westpac share price is now up 30% since the start of the year.

Why is the Westpac share price on fire in 2021?

Investors have been buying Westpac and other banks this year due to the improving outlook for the sector.

This is thanks to the strong economic recovery from the pandemic, the easing of responsible lending rules, and the booming housing market.

These improvements have been on show for all to see this month with the release of half year and quarterly results.

In respect to Westpac, at the start of the month, the bank released its half year results and reported a statutory net profit after tax of $3,443 million. This was an increase of 189% over the prior corresponding period and 213% over the second half of FY 2020.

Its cash earnings were also strong. They came in at $3,537 million for the half, which was a 256% increase over the prior corresponding period and a 119% lift over the second half of FY 2020.

And even if you adjust for notable items from all periods, Westpac’s earnings were strong. Excluding notable items, Westpac reported cash earnings of $3,819 million, up 60% year on year and 35% on the second half of FY 2020. This ultimately allowed the Westpac board to declare a fully franked interim dividend of 58 cents per share.

Also giving the Westpac share price a lift was news that it is planning to cut costs materially.

Westpac is targeting an $8 billion cost base by financial year 2024 to materially improve its efficiency. This compares to a ~$10.2 billion cost base in FY 2020.

Where next?

One leading broker that still sees a lot of value in the Westpac share price is Citi.

According to a recent note out of Citi, its analysts have a buy rating and $29.50 price target on its shares.

Based on the latest Westpac share price, this represents potential upside of 16% over the next 12 months. And if you include the dividend yield of 4.5% that it is forecasting, this potential return stretches beyond 20%.

Citi commented: “The market received WBC’s 1H21 result positively, with core earnings upgrades near-term from a better than expected NIM; and over the medium term, from lower costs. WBC’s target for FY24 costs of $8bn was lower than we anticipated, and management are confident and ambitious. We see many of the building blocks in place for the strategy, even if obvious sensitivities prevent their more fulsome disclosure. The premise of multi-year core earnings upgrades, layered on sector-wide asset quality improvements, leave WBC with a differentiated investment thesis. It remains our sole Buy in a sector that has rallied strongly in the COVID recovery.”

More reading

• 2 buy-rated ASX bank shares with huge dividend yields
• What do the CEOs of the Big Four banks think of the Federal Budget?
• Which ASX bank share is the cheapest after earnings?
• The ALS (ASX:ALQ) share price is flying on news of debt refinancing
• ASX 200 Weekly Wrap: Bank shares push ASX 200 towards all-time high

Motley Fool contributor James Mickleboro owns shares of Westpac Banking. 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.

The post Why this broker thinks the Westpac (ASX:WBC) share price is great value appeared first on The Motley Fool Australia.

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The Centuria Capital Group (ASX: CNI) share price was rising today. The company came into focus after its takeover of Primewest Group Ltd (ASX: PWG) came one step closer to fruition.

By the market’s close, shares in the real estate funds manager were trading at $2.71 each – up 1.5%. Similarly, Primewest shares were up 2.07% to $1.48. For comparison, the S&P/ASX 200 Index (ASX: XJO) closed the day 0.57% higher.

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

Background

Back in April, Centuria first submitted an offer to buy its fellow real estate fund manager for an implied price of $1.51. The offer consisted of 20 cents in cash and 0.473 in Centuria securities for every share in Primewest. At the time, the proposed offer of Centuria shares was worth $1.31. At today’s valuation, it is now worth approximately $1.29 – for a total price of $1.49 now. This is still one cent above the current Primewest share price.

The deal was practically done from the moment it was announced. Primewest directors said they planned to vote unanimously in favour of the deal and, since they own 53% of all shares in the company, had a majority vote.

Latest takeover news

 In its statement to the ASX, Primewest says it is recommending shareholders accept the deal for 100% of its shares. The company gave the following reasons as to why:

• An “attractive premium” of 3.1% based on the closing price of Primewest and Centuria on 16 April, and an 11.8% premium based on an average 30-day price of the two companies.
• A 60.9% shareholder return for Primewest owners.
• A 19% appreciation in earnings per share in the merged company compared to Primewest alone.
• Greater diversification of assets and greater relevance in its assets under management.
• A stronger likelihood of being placed in the S&P/ASX 200 Index (ASX: XJO). The new company will have an estimated market capitalisation of $2.2 billion.

In its own statement, Centuria gave similar reasons to Primewest shareholders as to why they should accept the offer.

Today’s statement takes Centuria one step closer to acquiring Primewest. 

Centuria Capital share price snapshot

Over the past 12 months, the Centuria share price has increased by 85.9%. Its value crashed to around $1.40 at the height of the COVID market crash before recovering to levels seen just before the pandemic.

More reading

• Why the Centuria (ASX:CNI) share price is edging lower today
• Here’s why the Centuria (ASX:CNI) share price is up today

Motley Fool contributor Marc Sidarous 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 De Grey Mining Limited (ASX: DEG) share price has plunged to become today’s worst performer on the S&P/ASX200 Index (ASX: XJO).

The De Grey share price hit an intra-day low of $1.24 just before noon, down more than 14% despite no price-sensitive news released today. At the time of writing, shares in the gold explorer have recovered slightly and are currently trading down 10.5% at $1.30.

Let’s take a closer look at what may have affected the company today.

De Grey share price sinks

Since De Grey has not released any price-sensitive news, it’s possible today’s price fall could be a reflection of the volatile spot gold price.

Overnight, the spot gold price touched its lowest intraday price in a week after posting declines over the past two sessions. Gold mining giants Newcrest Mining Ltd (ASX: NCM) and Evolution Mining Ltd (ASX: EVN) are both down marginally today. 

But fellow gold explorer Chalice Mining Ltd (ASX: CHN) has seen its share price fly 6.5% higher today. Could the De Grey share price fall be the result of investors switching from one gold explorer to another?

About the company

De Grey is a mining company based in Western Australia that focuses on gold exploration and development activities. The company has 100% ownership of the Mallina Gold Project in the Pilbara region which is also the site of its flagship Hemi Gold Project.

The Hemi Project is made up of zones including Aquila, Brolga, Brolga South and Crow. De Grey has noted thick and high-grade mineralisation across the project and expects the project to deliver great growth in the future.

Earlier this week, the De Grey share price bolted following positive drill results from the Aquila zone of its Hemi project. According to the update, samples from the top 200vm of the Aquila zone showed consistent and positive mineralisation. The company’s management described the results as “encouraging” with metallurgical test work revealing high gold recoveries.

Earlier in May, De Grey also released positive drill results from its Diucon-Eagle mining sites in the Hemi prospect.

De Grey share price snapshot

Despite today’s fall, the De Grey share price has performed strongly in 2021. Since the start of the year, shares in the gold explorer are up nearly 24% for the year, having hit an all-time high of $1.67 in April. Its shares have lifted 259% over the past 12 months.

More reading

• Why De Grey, GrainCorp, Pilbara Minerals, & Xero shares are dropping
• ASX 200 up 0.8%: Xero continues to slide, big four banks rise
• Brokers name 3 ASX shares to buy now
• 5 things to watch on the ASX 200 on Friday
• 5 things to watch on the ASX 200 on Thursday

Motley Fool contributor Nikhil Gangaram 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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Crown Resorts Ltd (ASX: CWN) shares are on the rise today. The positive price movement comes after it became known a major shareholder is pushing the company to make the sale of the gaming and resort business happen as soon as possible.

At the time of writing, the Crown share price is trading at $13.05 – up 2.35%. For context, the S&P/ASX 200 Index is currently trading 0.67% higher.

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

Crown sell-off too slow?

The Australian Financial Review (AFR) is reporting substantial Crown shareholder Perpetual Investments is actively pushing Crown’s board and management to begin selling the business as soon as possible. Crown is currently the target of three separate takeover bids from Blackstone Group, Oaktree Investments, and Star Entertainment Group Ltd (ASX: SGR).

“Given this interest, it makes sense for the board to immediately commence and fast-track a formal sale process, concurrent with its consideration of the proposals presented by Star Entertainment, Blackstone and Oaktree,” Perpetual Head of Equities, Paul Skamvougeras, is quoted as saying.

The AFR is reporting frustration is growing among bidders and shareholders that the Crown sales process is not happening quickly enough. However, reports suggest Crown is prioritising ensuring it can obtain/retain its gaming licenses in New South Wales, Victoria, and Western Australia. 

The latest Blackstone bid is for $12.35 per share, Star Entertainment’s offer is a mix of cash and shares it says values Crown shares at approximately $14.00 each, and Oaktree wants to loan Crown $3 billion to buy back James Packer’s plurality in the company. Mr Packer was singled out by the NSW Independent Liquor and Gaming Authority (ILGA) as a key reason for withholding its NSW gaming license.

Crown share price snapshot

Over the past 12 months, the Crown share price has increased by around 44.5%. Shares in the company bottomed out at $6.00 during the height of the COVID market crash and then struggled to return to their pre-pandemic value, largely hovering around $9.00 to $10.00 until mid-March this year.

Crown shares then rocketed 21.4% after Blackstone was the first to submit an offer for the beleaguered company. Since then, successive bids from other potential buyers have seen the Crown share price go higher and higher.

Crown Resorts has a market capitalisation of $8.8 billion.

More reading

• The Crown (ASX:CWN) share price is in focus today. Here’s why
• What to expect from the Budget, and a record close for the ASX 200: Motley Fool CIO Scott Phillips on Sky News
• Boral (ASX:BLD) share price in focus as it rejects Seven Group (ASX:SVW) takeover bid
• ASX 200 jumps, A2 Milk sinks, Crown rises
• Why Crown, Fortescue, Nearmap, & Tyro shares are charging higher

Motley Fool contributor Marc Sidarous 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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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 that brokers think investors should buy:

Humm Group Ltd (ASX: HUM)

According to a note out Macquarie, its analysts have retained their outperform rating and $1.30 price target on this financial services company. This follows the release of its third quarter update this week. The broker notes that Humm is a profitable buy now pay later provider and is expecting it to share its profits with shareholders in the form of dividends. It is forecasting a dividend per share of 3.4 cents per share in FY 2021. And thanks to provision releases in FY 2022, it expects Humm’s dividend to increase to 6.6 cents per share next year. Based on the current Humm share price of 95.2 cents, this will mean fully franked dividend yields of 3.6% and 6.9%, respectively.

Rio Tinto Limited (ASX: RIO)

A note out of Ord Minnett reveals that its analysts have a buy rating and $161.00 price target on this mining giant’s shares. Thanks to strong iron ore and copper prices, the broker believes Rio Tinto is well-placed to deliver bumper earnings and dividends in the coming years. Ord Minnett is forecasting fully franked dividends of ~$13.48 per share in FY 2021 and ~$11.22 per share in FY 2022. Based on the latest Rio Tinto share price of $126.01, this will mean 10.7% and 8.9% yields, respectively, over the next couple of years.

Telstra Corporation Ltd (ASX: TLS)

Another note out of Ord Minnett reveals that its analysts have retained their buy rating and lifted their price target on this telco giant’s shares to $4.10. The broker lifted its price target to reflect both Optus and Telstra increasing their mobile plan prices. Ord Minnett expects this to result in an increase in its average revenue per user (ARPU) metric in FY 2022. This should be supportive of its earnings and dividends in the near future. As a result, Ord Minnett continues to forecast fully franked dividends per share of 16 cents in FY 2021 and FY 2022. With the Telstra share price trading at $3.45, this will mean yields of 4.6%.

More reading

• Broker says this BNPL share could be better than Afterpay (ASX:APT)
• Why Humm, Moelis, Orica, & Treasury Wine shares are storming higher
• These ASX dividend shares offer generous fully franked yields
• What’s driving the Afterpay (ASX:APT) share price to 8-month lows?
• Why it might be time to give the TPG (ASX:TPG) and Telstra (ASX:TLS) share price a second look

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Telstra Limited. 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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The Magellan Financial Group Ltd (ASX: MFG) share price is having a very nice day today. At the time of writing, Magellan shares are up 4.27% to $47.35 a share. That’s a significant outperformance of the broader S&P/ASX 200 Index (ASX: XJO) which is only managing a 0.68% rise today.

Magellan is now more than 10% above the 52-week low of $42 that we saw back in March. However, it is still way down from the company’s 52-week high of $66 that we saw in the middle of last year.

So why are Magellan shares performing so well today?

Well, there are a couple of recent developments that may be responsible.

Why the Magellan share price is rising today

Firstly, Magellan’s funds under management (FUM). On 7 May, the company reported its FUM for the month of April. It disclosed a total FUM of $110.43 billion, which was up significantly (4.1%) from the $106.05 billion from the previous month. Since Magellan more or less makes its crust from a percentage cut of its total FUM, more FUM means more profits for Magellan.

Secondly, Magellan co-founder and chief investment officer Hamish Douglass has been loading the boat with shares of some of Magellan’s largest funds. As my Fool colleague Mitchell Lawler discussed last week, Mr Douglass has purchased significant tranches of both the Magellan Global Trust (ASX: MGF) and the Magellan High Conviction Trust (ASX: MHH) in recent weeks. This amounted to a total of $3.19 million as of 7 May.

Mr Douglass is well-known as a skilled investor, and as such, these moves are likely to add to the perception that Magellan’s funds are a good deal right now (or at least they were a few weeks ago). Not a bad factor to have working in a share price’s favour.

Finally, yesterday Magellan released its latest performance reports for the aforementioned funds. After a couple of months of benchmark underperformance, the Magellan Global Fund managed to return 4.5% for the month of April, significantly above the 3.2% that its benchmark (MSCI World Net Total Return Index (AUD)) delivered. The Magellan high Conviction Trust isn’t benchmarked. But it still managed to do even better over April, banking a return of 4.9%.

These figures are objectively impressive and may be restoring some confidence in investors that were previously put off by the relative underperformance of these funds over the past year or so.

Foolish takeaway

It’s likely to be a combination of these factors that are leading to the Magellan share price’s performance today. On current pricing, Magellan has a market capitalisation of $8.71 billion, a price-to-earnings (P/E) ratio of 21.49 and a trailing dividend yield of 4.62%.

More reading

• The Commonwealth Bank (ASX:CBA) share price hits new record high
• What resurgent inflation really means for your ASX shares
• ASX 200 up 0.8%: Xero continues to slide, big four banks rise
• 5 things to watch on the ASX 200 on Friday
• ASX 200 sinks alongside largest US inflation rise in 12 years

Motley Fool contributor Sebastian Bowen owns shares of Magellan High Conviction Trust. 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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