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In afternoon trade on Monday, the S&P/ASX 200 Index (ASX: XJO) is on course to start the week with a small decline. At the time of writing, the benchmark index is down slightly to 7,057.7 points.

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

Bubs Australia Ltd (ASX: BUB)

The Bubs share price is down almost 2.5% to a two-year low of 43 cents. This is despite there being no news out of the infant formula company today. However, with its third quarter update due this week and analysts warning that trading conditions are very tough, investors may be jumping ship in anticipation of a very poor update.

Carbon Revolution Ltd (ASX: CBR)

The Carbon Revolution share price has crashed 22% to $1.83. Investors have been selling the carbon fibre wheels manufacturer’s shares following the completion of the institutional component of its underwritten entitlement offer and placement. According to the release, the company has raised $73.5 million at a discount of $1.60 per new share. It will now seek to raise a further $21.5 million from retail investors. These funds will be used to execute its mega-line strategy.

Paradigm Biopharmaceuticals Ltd (ASX: PAR)

The Paradigm share price is down almost 7% to $2.38. The biopharmaceutical company’s shares have come under pressure today after an update on its dealings with the US FDA. According to the release, on Friday Paradigm received a verbal indication from the FDA that the regulator would be putting further questions to Paradigm outside the 30-day investigational new drug (IND) application review period. This has the potential to delay proceedings and adds an element of uncertainty.

Tyro Payments Ltd (ASX: TYR)

The Tyro share price is down 3% to $3.81 following the release of a trading update. Investors have been selling the payments company’s shares despite it reporting transaction value of $1.741 billion month-to-date in April. This is up 155% on the prior corresponding period. Though, it is worth noting that this time last year the pandemic was hitting the economy hard.

More reading

• Tyro (ASX:TYR) share price drops despite April transaction values surging 155%
• Why the Paradigm (ASX:PAR) share price is sinking 5% today
• Why the Carbon Revolution (ASX:CBR) share price is frozen
• Why the A2 Milk (ASX:A2M) share price hit a multi-year low today
• Smartpay (ASX:SMP) share price lifts on fourth quarter trading update

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Carbon Revolution Limited and Tyro Payments. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of BUBS AUST FPO. The Motley Fool Australia has recommended BUBS AUST FPO and Carbon Revolution Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post Why Bubs, Carbon Revolution, Paradigm, & Tyro shares are sinking appeared first on The Motley Fool Australia.

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There has been some big news coming out of buy now, pay later (BNPL) pioneer Afterpay Ltd (ASX: APT) over the past week or so. The Afterpay share price is now up more than 22% since 31 March, but that kind of move is old hat for Afterpay investors.

No, I’m talking about the quarterly update that Afterpay provided to the markets last week, last Tuesday to be exact.

In this announcement, Afterpay gave investors what they would be used to by now. An update showing triple-digit payment volume growth, as well as a 75% growth rate in active customers. The company’s presence in the United States and United Kingdom markets are growing well, and Afterepay continues to explore new markets.

Impressive as always, but also nothing we haven’t seen before. However, something we indeed have never seen before from Afterpay was also floated last week. A potential US listing for the company.

Afterpay to list in America?

As we discussed last week, Afterpay made an announcement in its quarterly update that it was “exploring options for a potential US listing”.

Here’s what the statement said:

Afterpay is currently working with external advisors to explore options for a US listing given the US market is now the largest contributor to our business and is expected to continue to grow strongly…

While Afterpay intends to remain an Australian headquartered company, our shareholder base is increasingly becoming more globally focused. A US listing would further accommodate this growing interest…

There is no timeline set for a Board decision on a listing and any listing would be subject to market conditions, approval by a US exchange and satisfying a number of other customary listing prerequisites.

That’s all.

However, this question of a US listing opens the doors to another question: What is going to happen to Afterpay’s ASX investors if the company does indeed pack up and move overseas. Well, Afterpay isn’t giving much away right now, as you can garner from the words above. But there are a few possibilities.

How will Afterpay shares look if they move to the US?

ASX dumped?

Afterpay could just delist from the ASX altogether, and become like that other Aussie tech company Atlassian Corporation (NASDAQ: TEAM). Aussies who want to invest in Atlassian simply have to buy shares on the US Nasdaq exchange, like they would for any other US company. There are no ASX-listed Atlassian shares.

If Afterpay did go down this path, it’s even possible (if perhaps unlikely) that ASX investors might be forced to sell their ASX Afterpay shares. Following that, they would then buy the US-listed shares when they become available if they still want to own Afterpay. A likelier outcome is that ASX investors would have their ASX shares ‘swapped’ with the US version of the shares.

Dual listing

Alternatively, Afterpay could follow a full dual-listing structure, which companies like BHP Group Ltd (ASX: BHP) and Rio Tinto Limited (ASX: RIO) already employ. For example, BHP lists on the ASX, as we all know. But it also has a US listing in BHP Group Ltd (NYSE: BHP), as well as a listing in the UK in BHP Group plc (LON: BHP).

All of these shares have a similar structure, albeit with different pricing.

CDIs?

Finally, Afterpay could employ a CDI model. A CDI (or Chess Depositary Interest) is not quite the same as a dual listing. Instead of the shares being officially available on an exchange, a CDI is a certificate of sorts that says you have a beneficial ownership right to shares on another exchange. An ASX example of this type of listing is Resmed CDI (ASX: RMD).

Resmed Inc (NYSE: RMD) is officially the company’s ‘true’ listing. The ASX CDIs just allow ASX investors to buy those US shares on the ASX. But it will still be a US investment priced in US dollars. Thus, if Resmed’s US shares don’t change in value, but the Aussie dollar rises, the Resmed CDIs will fall in value.

This is another avenue Afterpay could go down.

Foolish takeaway

Whatever the outcome, it doesn’t appear as though ASX Afterpay investors have anything to fear from the company’s US listing aspirations. But we will have to wait for further updates on Afterpay’s plans to really get a gauge on this situation. Watch this space!

More reading

• 5 things to watch on the ASX 200 on Monday
• Afterpay (ASX:APT) share price given $40 price target
• Could a dual listing drive the Afterpay (ASX:APT) share price higher? 
• Why your ASX 200 shares aren’t going up with the market 
• Is the Afterpay (ASX:APT) share price fully valued?

Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Atlassian. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. recommends ResMed. The Motley Fool Australia owns shares of AFTERPAY T FPO. The Motley Fool Australia has recommended ResMed Inc. 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 Fortescue Metals Group Ltd (ASX: FMG) share price is heating up again after a ~20% tumble between late February and late March. The Fortescue share price is up 10% in the past month, defying expectations that iron ore prices might retreat from decade highs.

Bell Potter believes iron ore will continue to defy expectations and upgraded Fortescue on  23 April from hold to buy with a $23.85 target price. The broker believes the dividend upside outweighs the potential iron ore price downside.

Here’s what the broker had to say about another potential Fortescue share price run. 

Iron ore continues to outperform 

The research note said that the “iron ore price has continued to defy bearish forecasts (including ours) predicated on recovering supply from Brazil, restrictions being placed on certain sectors within the Chinese steel industry, potential slowing of stimulus spending on infrastructure and construction there and negative jawboning by the Chinese Industry Ministry.”

The broker highlights a number of factors buoying iron ore prices including strong global steel demand and Chinese steel production, disappointing iron ore production out of Brazil and lower end of guidance ranges for Australian March quarter production. 

The broker made a modest cut to FY21 product forecasts due to lower shipping volumes reported out of Port Hedland for the March 2021 quarter. Weighing in both opinions, Bell Potter upgraded its near-term iron ore price forecasts by 23%, 43% and 11% for FY21, FY22 and FY23 respectively.

Buy the Fortescue share price for dividends 

Bell Potter has described that in a yield-hungry environment, Fortescue’s dividend has been “a tangible price support in the face of the downside risks to the iron ore price”.

With an improved near-term for iron ore prices, the broker believes a prospective 12-month dividend payout of A$4.01 including a final FY21 payment of A$2.41 is likely. This could represent an eye-watering yield of 18.5%.

More reading

• Meet the real ASX winners from record high Chinese steel prices
• High iron ore prices are boosting the Fortescue (ASX:FMG) share price again
• Why your ASX 200 shares aren’t going up with the market 
• Super profits tax risk rising for ASX miners as commodity prices chase record highs
• Why Rio Tinto (ASX:RIO) and BHP (ASX:BHP) look set for another profit upgrade

Motley Fool contributor Kerry Sun 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 Australian Primary Hemp Ltd (ASX: APH) share price is performing strongly during early-afternoon trade. This comes after the company announced it has teamed up with Annex Foods, an Australian-owned health and snack food company.

At the time of writing, the premium plant-based and wellness company’s shares are fetching 45 cents, up 7.14%.

New partnership agreement

Australian Primary Hemp shares are on the move, with investors appearing upbeat about the company’s future prospects.

According to this morning’s release, Australian Primary Hemp has signed a 2-year exclusive agreement with Annex Foods. This follows close collaboration between the two companies in helping expand Australian Primary Hemp’s market presence.

Under the deal, Australian Primary Hemp will supply its Australian-grown and processed Hammer Milled Hemp Meal to Annex Foods. This will be used exclusively as an ingredient for products under Annex’s ‘Red Tractor’ brand. Red Tractor is a well-recognised health food brand that is sold across leading supermarkets in Australia, and overseas in ten countries.

The latest agreement is expected to generate revenue of $250,000 for Australian Primary Hemp over the next two years.

Management comments

Australian Primary Hemp managing director and CEO Neale Joseph welcomed the new deal, saying:

We believe that this second agreement with Annex demonstrates our ability to meet customer needs in terms of product quality and customer service. The partnership with Annex continues our strategy of delivering great customer outcomes with Australian grown produce.

Annex managing director Kane Fetterplace went on to add:

Annex Foods is committed to using Australian grown ingredients in our products and is delighted to partner with progressive companies like APH. The agreement extends our range of Red Tractor Australian grown grains and seeds to include world class hemp products.

Australian Primary Hemp share price summary

Australian Primary Hemp shares have fared particularly well since the beginning of November 2020 and are up 150% in just 6 months. Looking at year-to-date performance, the company’s shares have gained around 29%.

More reading

• Why the Australian Primary Hemp (ASX:APH) share price is up 5%

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 Downer EDI Limited (ASX: DOW) share price is rising today after the company announced the sale of its tyre business Otraco to the market. Shares in the company are up 1.76% and are currently sitting at $5.49.

The Downer share price has been relatively flat so far this year, returning 0.64% compared to the 5.3% rise in the All Ordinaries Index (ASX: XAO). 

What happened

This morning industrial company Downer announced that it has entered into an agreement to sell its tyre management business, Otraco. The sale of Otraco is to Japanese company Bridgestone for $79 million.

The completion of the transaction, which is subject to regulatory approvals and other conditions, is expected to occur before the end of 2021.

Furthermore, the sale follows Downer’s strategy of divesting its mining business as part of its renewed focus on Urban services.

Management comments

Downer CEO Grant Fenn welcomed the news, saying:

The sale of Otraco follows Downer’s exit from its Underground mining, Open Cut Mining West, Downer Blasting Services and Snowden consulting businesses and also our share in the RTL Mining and Earthworks joint venture.

Potential future sales

The CEO went on to talk about possible future sales, as the company looks to continue its divestment in its mining businesses.

According to the release the company is in ongoing discussions to sell its open cut mining business. Fenn stated that a number of parties are interested.

Moreover, the sale follows a number of large recent deals, which will deliver total proceeds of $605 million when concluded. To date $476 million has been received.

About the Downer share price

Downer is a services provider based in Australia and New Zealand. Listed on the ASX in 1998, the company is also a member of the S&P/ASX 100 Index (ASX: XTO).

The company’s shares have been performing well in the last month on the back of a large contract win. As such, the Downer share price is up 7% for the period.

More reading

• Is the Temple & Webster (ASX:TPW) share price a bargain buy?
• These are the 10 most shorted shares on the ASX
• 2 small cap ASX shares that are growing quickly
• Advanced Human Imaging (ASX:AHI) share price wobbles on agreement
• Peninsula (ASX: PEN) share price jumps on update

Motley Fool contributor Daniel Ewing 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.

The post Why the Downer (ASX:DOW) share price is rising today appeared first on The Motley Fool Australia.

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The Temple & Webster Group Ltd (ASX: TPW) share price has been a poor performer in recent months and particularly last week.

During the five days, the online furniture and homewares retailer’s shares tumbled 12%.

And while the Temple & Webster share price is pushing higher today, it is still down 31% from its 52-week high.

Why did the Temple & Webster share price crash lower?

Investors were selling the company’s shares last week after the release of its third quarter update. 

Although Temple & Webster is still performing positively and growing its sales strongly, it warned that it would now be focusing on growing its market share at the expense of margins.

This includes increasing its marketing spend to build strong brand awareness and achieve a national brand status and using “tactical” pricing and promotions to increase conversion.

Temple & Webster’s CEO & Co-Founder, Mark Coulter, explained: “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.”

Is this a buying opportunity for investors?

According to a note out of Bell Potter, its analysts have retained their hold rating and put an $11.30 price target on its shares.

Based on the latest Temple & Webster share price, this implies potential upside of 16.5%. So while the broker only rates its shares as a hold, the returns on offer are still above-average.

Elsewhere, analysts at Morgan Stanley are a lot more positive on the Temple & Webster share price.

According to a note from last week, the broker has retained its overweight rating and lifted its price target to $15.00. Morgan Stanley believes its reinvestment plan makes strategic sense and expects it to widen its moat.

Its price target implies potential upside of greater than 50% over the next 12 months.

More reading

• These are the 10 most shorted shares on the ASX
• This broker thinks you should buy the Kogan (ASX:KGN) share price dip
• Top brokers name 3 ASX shares to buy next week
• 2 exciting e-commerce ASX shares growing rapidly
• Why Challenger, Nuix, Splitit, & Temple & Webster are sinking

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Temple & Webster Group Ltd. The Motley Fool Australia has recommended Temple & Webster Group Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post Is the Temple & Webster (ASX:TPW) share price a bargain buy? appeared first on The Motley Fool Australia.

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At the start of each week I like to look at ASIC’s short position report to find out which shares are being targeted by short sellers.

This is because I believe it is well worth keeping a close eye on short interest levels as high levels can sometimes be a sign that something isn’t quite right with a company.

With that in mind, here are the 10 most shorted shares on the ASX this week according to ASIC:

• Tassal Group Limited (ASX: TGR) is now the most shorted share after its short interest rose slightly to 9.9%. This seafood company has been targeted by short sellers due to weak salmon prices and concerns over the Australia-China trade war.
• Resolute Mining Limited (ASX: RSG) has seen its short interest rise week on week again to 9.8%. Short sellers have been going after this gold miner due to its weak production, disappointing guidance, and issues at its Bibiani operation in Ghana.
• Webjet Limited (ASX: WEB) is no longer the most shorted ASX share after its short interest reduced to 9.8%. Nevertheless, this is still a high level of short interest and appears to be down to concerns over the travel market recovery and its valuation.
• Flight Centre Travel Group Ltd (ASX: FLT) has short interest of 9.2%, which is up slightly week on week. Once again, this appears to have been driven by concerns over its valuation and the stalling travel market recovery.
• Inghams Group Ltd (ASX: ING) has 8.3% of its shares held short, which is flat week on week. An unfavourable shift in its sales mix and the exit of its CEO could be weighing on investor sentiment.
• Metcash Limited (ASX: MTS) has seen its short interest ease slightly to 7.3%. Concerns over a potential supermarket price war and its high capital expenditure plans could be behind this.
• Zip Co Ltd (ASX: Z1P) has entered the top ten with short interest of 7.2%. Short sellers are going after the buy now pay later provider despite it reporting strong growth during the third quarter. Valuation concerns could be weighing on sentiment.
• Megaport Ltd (ASX: MP1) has short interest of 6.8%, which is up again week on week. Unfortunately for short sellers, the Megaport share price surged higher last week after it released a solid third quarter update.
• Temple & Webster Group Ltd (ASX: TPW) has seen its short interest remain flat at 6.1%. Short seller will have been pleased to see the online furniture and homewares retailer’s shares sink lower last week after revealing plans to invest materially in its growth at the expense of margins.
• Alkane Resources Limited (ASX: ALK) is back in the top ten with 6% of its shares held short. Investors appear disappointed with the slow progress the company is making with its rare earths project.

More reading

• Is the Temple & Webster (ASX:TPW) share price a bargain buy?
• This broker thinks you should buy the Kogan (ASX:KGN) share price dip
• 2 bountiful ASX dividend shares rated as buys by brokers
• Top brokers name 3 ASX shares to buy next week
• These were the best performers on the ASX 200 last week

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends MEGAPORT FPO. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Temple & Webster Group Ltd and ZIPCOLTD FPO. The Motley Fool Australia owns shares of and has recommended Webjet Ltd. The Motley Fool Australia has recommended Flight Centre Travel Group Limited, MEGAPORT FPO, and Temple & Webster 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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Small cap ASX shares have the potential to be able to grow quickly.

They’re starting from a smaller base and can have a much longer growth runway as they expand into new markets and hopefully grow profit margins.

These two businesses are demonstrating a lot of growth right now:

Audinate Group Ltd (ASX: AD8)

Audinate wants to pioneer the audio sector with its Dante audio-over-IPO networking solution, which it says is a world leader and used extensively in the professional live sound, commercial installation, broadcast, public address and record industries.

How does it work? Dante can replace the analogue audio cables by transmitting synchronised audio signals to multiple locations by using an ethernet cable.

The small cap ASX share recently revealed its FY21 third quarter which showed revenue growth of 31% to US$7 million.

Audinate explained that this latest quarter benefited from channel fill of newly released Bluetooth and USB-C AVIO adaptors, as well as an increase in orders from customers managing global supply chain concerns.

Compared to the first half of FY21, there has been continued strength of chips, cards and modules revenue.

However, there’s still potential supply chain problems. Audinate CEO Aidan Williams said:

We are closely watching global supply chains for potential negative impacts on both our customers and Audinate, which may constrain our near-term revenue and growth.

Along with our manufacturing and OEM partners, we are working to mitigate supply chain challenges and expect this near-term uncertainty to resolve itself as CY21 progresses. We remain very confident in the long-term outlook for the business.

Healthia Ltd (ASX: HLA)

Healthia is Australia’s largest allied health business and owns 30 brands. It operates across different sectors in healthcare – feet and ankles, bodies and minds, and eyes and ears.

It wants to deploy a minimum of $20 million of capital each year to buy now allied health business acquisitions. Healthia has successfully grown to the size it is through acquisitions, as well as organic growth.

The small cap ASX share is working on new business opportunities through cross-referrals between Healthia’s businesses to promote better patient outcomes. It also wants to provide clinicians with industry leading education, tools and support and continue to develop industry leading career opportunities for all team members. This is expected to continue to drive strong organic performance into the future.

In the FY21 half-year result, Healthia generated organic revenue growth of 14.5%, though total revenue went up 38.9%. Underlying earnings before interest, tax, depreciation and amortisation (EBITDA) grew 90.7% to $11 million, partly thanks to the underlying EBITDA margin rising 486 basis points to 17.87%. Underlying earnings per share (EPS) grew by 78.2% to 6.86 cents.

The board are confident on the balance sheet, which is why the business is now paying a dividend. The interim dividend payment to shareholders was 2 cents per share.

More reading

• 3 growing small cap ASX shares to watch
• Brokers name 3 ASX shares to buy now
• Audinate (ASX:AD8) share price climbs on Q3 update
• 2 fantastic ASX shares that brokers rate as buys
• 3 growing small cap ASX tech shares to watch

Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended AUDINATEGL FPO. The Motley Fool Australia has recommended HEALTHIA FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Advanced Human Imaging Ltd (ASX: AHI) shares have been up and down today following news of a signed marketing agreement. The Advanced Human Imaging share price opened slightly higher following the news before slumping 3.35% to $1.73. 

However, at the time of writing, the company’s shares have recovered to trade at $1.82, up 1.68% for the day so far.

What did Advanced Human Imaging announce?

Advanced Human Imaging shares are on a rollercoaster today after the company advised it has entered into a marketing agreement with China-Based, Tinjoy Biotech (Tinjoy).

The partnership will see Advanced Human Imaging’s CompleteScan product integrate with Tinjoy’s WinScan app in China. Launch of the combined offering is being targeted for July 2021.

Brought to market in 2020, Tinjoy’s WinScan app services roughly 28 million consumers every month in China. The digital health platform specialises in multiple segments of personal and population health as well as medical and preventative care. The company uses data analytics for the early detection and health assessment of individuals at risk of chronic disease.

Under the terms of the binding sheet, Advanced Human Imaging will contribute US$200,000 over three tranches. The funds will be used towards the training of 500 call centre team members to sell the CompleteScan integration. In addition, the remaining monies will be allocated towards material production and the launch of the CompleteScan integrated WinScan app.

Advanced Human Imaging is hoping to achieve 1 million active monthly users within the first year of the signed agreement.

Judging by today’s Advanced Human Imaging share price moves, it seems investors have mixed feelings over the significance of the company’s news.

What did management say?

Vlado Bosanac, chair and CEO of Advanced Human Imaging, commented:

Our teams have been in constant communications over the last 8 weeks progressing the application integration points. We are fortunate to have mandarin speaking staff that are able to navigate the language barrier seamlessly…

The sheer size of the population and the high level of mobile device usage in China, gives me tremendous confidence in the acceptance of our unique and easy to use technology. I believe this will culminate in a very successful partnership.

About the Advanced Human Imaging share price

Including today’s gains, the Advanced Human Imaging share price has rallied by around 1,000% over the last 12 months. The company’s shares are, however, still sitting below their 52-week high of $2.19 reached in March this year.

Advanced Human Imaging has a market capitalisation of around $238 million.

More reading

• What’s with the Advanced Human Imaging (ASX:AHI) share price today?
• Why has the Advanced Human Imaging (ASX:AHI) share price plunged 5%?

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 Peninsula Energy Ltd (ASX: PEN) share price has jumped 4% higher in morning trade to 13 cents apiece. Investors are watching the company’s share price after the uranium miner released its quarterly report.

Let’s take a look at how Peninsula performed for the last quarter.

Peninsula releases quarterly activities report

Earlier today, Peninsula released its quarterly activities report for the March quarter.

The company reported an operating cash loss of US$2.2 million for the quarter with no sales recorded.  For the 9 months to 31 March, Peninsula noted an operating cash loss of US$5.7 million on sales of US$3.4 million.

For the March quarter, Peninsula highlighted US$6.8 million cash on hand. In addition, the company also provided a summary of its purchase agreements. For the calendar year of 2022, Peninsula noted that it has entered into binding contracts for the delivery of 450,000 pounds of uranium. As a result, Peninsula forecasts a net cash margin of US$8 million to US$9 million in 2022.

Peninsula also highlighted the company’s upgrade to the OTCQB Venture Market earlier this year.

More on the Peninsula share price

Peninsula is an ASX-listed uranium mining company. The company’s flagship Lance Project located in Wyoming, USA is the only US-based uranium project using a low pH, in-situ recovery (ISR).

In order to ‘decarbonise’ the country’s power sector, the US Department of Energy has allocated US$75 million towards the establishment of a national strategic uranium reserve. As a result, Peninsula is in a position to potentially benefit from various initiatives of the US government.

The Peninsula share price bolted out of the blocks in 2021, hitting 18 cents in mid-February. After dipping since then, the company’s share price has struggled to gain traction. Shares in Peninsula were given a boost earlier this month after the company delivered favourable results from field demonstration tests at its Lance Project. However, despite the slew of updates the Peninsula share price has tanked more than 20% in the past 12 months.

As highlighted before, shares in Peninsula Energy were upgraded to the middle tier of the OTC market earlier this year. The upgrade was in response to strong trading volumes and provides overseas investors greater access to securities in Peninsula Energy.

More reading

• Why the Peninsula Energy (ASX:PEN) share price is soaring 9%

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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