Tag: Motley Fool

The Silver Lake Resources Limited (ASX: SLR) share price is in the red today following the release of its latest quarterly report.

At the time of writing, the Silver Lake Resources share price is down 0.99% trading at $1.80 per share.  

Production and costs improve

For the period ending 31 March 2021, the gold and copper miner achieved higher production with a reduction in all-in sustaining costs compared to the prior quarter. The company recorded an average sales price of A$2,180 per ounce during the quarter. Meanwhile, its all-in sustaining costs (AISC) were further reduced to A$1,452 per ounce.

Silver Lake Resources produced 60,502 ounces of gold and 411 tonnes of copper. While sales for the quarter were 60,740 ounces of gold and 279 tonnes of copper.

The company maintained its FY21 guidance for gold sales of 240,000 to 250,000 ounces and 1,600 tonnes of copper. It expects AISC to range between A$1,400 to A$1,500 for FY21.

Silver Lake achieved the steady result while the company works through the development of its projects in the Deflector region. The projects continued to progress through the construction and development phases during the quarter.

Finances and future

Despite investing heavily in investments during the quarter, Silver Lake Resources increased its cash position by $5 million. At the end of March, the miner held $320.5 million in cash and bullion – while remaining debt-free.

Key cash flow movements included $17.9 million from the Mount Monger mine, $23.6 million from the Deflector mine, and $7.8 million in proceeds from the divestment of the Andy Well and Gnaweeda gold projects.

For cash outflows, Silver Lake spent $26.8 million on its Deflector project upgrade and Rothsay underground development. A further $3.4 million was spent on exploration activities.

Re-discovering the Silver Lake Resources share price

The Silver Lake Resources share price has been caught up in the gold price weakness of the past 6 months. Shares in the miner have been thrown in the dirt, falling 20% in that time. Meanwhile, the company has continued to increase its revenue, partly with higher production.

The conflicting patterns have resulted in a compression of its price-to-earnings (P/E) ratio. Consequently, the company now trades on a 5.5 times earnings multiple.

More reading

• ASX 200 Weekly Wrap: ASX sees 7,000 points once more
• These were the best performing ASX 200 shares last week
• The Magnetite Mines (ASX:MGT) share price is up 330% in 2021

Motley Fool contributor Mitchell Lawler 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 Silver Lake Resources (ASX:SLR) share price slips on quarterly update appeared first on The Motley Fool Australia.

from The Motley Fool Australia https://ift.tt/2PcR5Pm

The Australia and New Zealand Banking GrpLtd (ASX: ANZ) share price has been on the charge in recent days. The Aussie bank’s share has edged higher on Friday morning and is now up 24.1% since the start of the year.

Why is the ANZ share price climbing?

It’s been a busy start to the year for the Aussie banks but there haven’t been many price-sensitive announcements from ANZ itself. Credit rating agency Fitch revised its outlook on ANZ to stable, up from negative, while affirming the bank’s long-term issuer default rating (IDR) at A+.

The bank also lost deputy CEO Alexis George who was poached by AMP Ltd (ASX: AMP) after the departure of former CEO Francesco de Ferrari. 

The ANZ share price has been performing well in 2021 as the Aussie housing boom rolls on. That’s good news for the lenders as underlying security values increase and default rates remain low.

There are high expectations from certain analysts like those at Macquarie Group Ltd (ASX: MQG). Macquarie analysts believe the ANZ share price could be a big winner if the US trend of strong bank results continues in Australia.

Macquarie said, “Our analysis highlights that ANZ appears to be more leveraged to the trends observed from offshore peers”. That’s largely thanks to a larger global market’s business compared to its Big Four peers in Commonwealth Bank of Australia (ASX: CBA), National Australia Bank Ltd. (ASX: NAB) and Westpac Banking Corp (ASX: WBC). 

The ANZ share price is already streets ahead of the S&P/ASX 200 Index (ASX: XJO) so far this year. Shares in the bank are up 24.1% in 2021 compared to a 5.5% gain for the benchmark Aussie index.

The bank is set to announce its half-year earnings on Wednesday, May 5 and the ANZ share price will be worth watching in the lead-up.

More reading

• ASX 200 down 0.1%: Kogan crashes, AMP’s demerger plans, Telstra strengthens 5G network
• Brokers name 3 ASX shares to buy now
• What Biden’s capital gains tax changes could mean for the ASX 200
• 2 strong ASX 200 shares offering good income
• 5 things to watch on the ASX 200 on Friday

Motley Fool contributor Ken Hall has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Macquarie Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post What’s happening with the ANZ Bank (ASX:ANZ) share price? appeared first on The Motley Fool Australia.

from The Motley Fool Australia https://ift.tt/3ngETdc

The Santos Ltd (ASX: STO) share price is in seesawing during midday trade. This comes after the company provided an update on its bonds offer.

At the time of writing, the energy producer’s shares are swapping hands for $6.93, up 0.14%. However, during morning trade, Santos shares have swung several times from red to green. 

Quick take on Santos

Founded in 1954, Santos produces natural gas and oil, with operations across Australia, Timor-Leste and Papua New Guinea. The company is recognised as Australia’s largest domestic natural gas supplier, catering to over 20% of the country’s needs.

Bonds offer

Investors appear divided over the company’s latest update, sending Santos shares up and down in the day’s trade so far.

According to its release, Santos has placed a US$1 billion price tag on its senior unsecured fixed-rate bond transaction. The bonds will be issued by wholly-owned subsidiary, Santos Finance and guaranteed by Santos.

The company stated that the bonds will have a fixed coupon rate of 3.649% for a period of 10 years. The maturity date for the bonds will occur in April 2031.

Subject to customary closing conditions, settlement of the bonds is expected to be completed on 30 April 2021.

Santos managing director and CEO Kevin Gallagher welcomed the news, saying:

This is an excellent result for Santos’ debut 144A issuance, showing strong support from the capital markets and ensures our balance sheet is well positioned to support our disciplined growth strategy.

Santos’ disciplined operating model is focussed on maintaining a strong balance sheet and generating free cash flow through improvements in productivity and maintaining discipline in capital expenditure through the cycle.

Santos share price snapshot

The Santos share price has gained over 60% in the past year and is up around 8% year to date. The company’s shares hit a recent 52-week high of $7.80 last month, but have since headed lower.

Santos has a market capitalisation of about $14.4 billion, with a tad more than 2 billion shares outstanding.

More reading

• 5 things to watch on the ASX 200 on Friday
• Woodside (ASX:WPL) share price slides despite 22% revenue increase
• ASX 200 up 0.2%: AMP sinks, Redbubble crashes, Megaport jumps
• Why the Santos (ASX:STO) share price is in focus
• 5 things to watch on the ASX 200 on Thursday

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.

The post Why the Santos (ASX:STO) share price is on the move today appeared first on The Motley Fool Australia.

from The Motley Fool Australia https://ift.tt/3vdRwbu

At lunch on Friday the S&P/ASX 200 Index (ASX: XJO) is on course to have a subdued finish to the week. The benchmark index is currently down 0.1% to 7,046 points.

Here’s what is happening on the market today:

Kogan update disappoints

The Kogan.com Ltd (ASX: KGN) share price has been sold off today after the release of a disappointing third quarter update. Although the ecommerce company reported a 47% increase in gross sales and a 54% jump in gross profit, its operating earnings actually declined by 24%. The damage was done primarily in the core Kogan business, which reported a 42% decline in adjusted operating earnings. This was driven by a significant increase in operating costs.

AMP announces demerger plans

The AMP Ltd (ASX: AMP) share price is pushing higher today after announcing demerger plans. According to the release, the company intends to pursue a demerger of AMP Capital’s Private Markets business. Management believes the demerger will create two focused businesses, better equipped to pursue and allocate capital to distinct growth opportunities and realise efficiencies.

Telstra buys more 5G spectrum

The Telstra Corporation Ltd (ASX: TLS) share price is trading largely flat today after announcing a $277 million investment in the 26 GHz spectrum auction. According to the release, the telco giant has it has secured 1000 MHz of additional spectrum, which it expects to further extend its leadership in 5G now and into the future. Telstra advised that it secured the spectrum in all major capital cities and regional areas where it was sold.

Best and worst ASX 200 performers

The best performer on the ASX 200 on Friday has been the Nuix Ltd (ASX: NXL) share price with a 6.5% gain. This morning Morgan Stanley retained its overweight rating but trimmed its price target to $7.50. The worst performer has been the Kogan share price with an 11% decline following its third quarter update.

More reading

• What Biden’s capital gains tax changes could mean for the ASX 200
• AMP (ASX:AMP) share price charges higher on demerger plans
• Why has the Kogan (ASX:KGN) share price plummeted 10%?
• Telstra (ASX:TLS) share price on watch after 5G update
• 2 strong ASX 200 shares offering good income

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. recommends Nuix Pty Ltd. The Motley Fool Australia owns shares of and has recommended Kogan.com ltd and Telstra Limited. The Motley Fool Australia has recommended Nuix Pty Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post ASX 200 down 0.1%: Kogan crashes, AMP’s demerger plans, Telstra strengthens 5G network appeared first on The Motley Fool Australia.

from The Motley Fool Australia https://ift.tt/2ROflbs

The Hyperion Metals Ltd (ASX: HYM) share price has surged to a new record high for the second consecutive day. Shares in the Aussie materials group shot 11.9% higher to $1.08 this morning after another key market update.

Why is the Hyperion Metals share price climbing?

Hyperion this morning announced a new US-focused advisory board to help drive its growth plans. The Capital Markets Advisory Board comprises a team of experts to help advance potential strategic partnerships for financing, development and operational activities.

The Hyperion Metals share price has surged higher for the second straight day on the back of the news. Key Advisory Board members include:

• Todd Ruppert, former CEO and president of T. Rowe Price Global Investment Services;
• Melissa Waller, AIF Institute president and former deputy treasurer and chief of staff for the North Carolina Department of State Treasurer;
• Andy Stewart, industry partner at Motive Partners and former co-lead of Blackrock’s Alternative Investment Platform; and 
• Toby Symond, senior advisor to a number of asset managers including Coliseum Capital Management and Sweetwater Capital Partners.

Upwards momentum

The board announcement saw the Hyperion Metals share price shoot 8.9% higher to start the day, and up 11.9% at the time of writing. That pushes the company’s market capitalisation to more than $111.5 million following yesterday’s surge.

The Hyperion Metals share price rocketed 16.4% higher on Thursday after a key new partnership announcement. Hyperion signed a memorandum of understanding (MOU) with US-based Energy Fuels.

That MOU is to evaluate the potential supply of monazite sands from the Titan Project in Tennessee, USA to Energy Fuels’ White Mesa Mill in Utah for the production of rare earth products.

The news was well-received by investors who helped propel the Hyperion Metals share price higher. That strong momentum has been carried on this morning following the advisory board update from the Aussie-US materials group.

More reading

• ASX 200 down 0.1%: Kogan crashes, AMP’s demerger plans, Telstra strengthens 5G network
• Why the Dimerix (ASX:DXB) share price is rocketing higher
• Why the Prospa (ASX:PGL) share price has surged 7%
• Can the WiseTech Global (ASX:WTC) share price climb higher from here?
• Vitalharvest (ASX:VTH) share price pause as M&A battle continues

Motley Fool contributor Ken Hall 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 Hyperion Metals (ASX:HYM) share price hits another record high appeared first on The Motley Fool Australia.

from The Motley Fool Australia https://ift.tt/3sIzH2E

The Dimerix Ltd (ASX: DXB) share price has shot 6% higher to start the day after an update from the drug discovery company.

Why is the Dimerix share price surging higher?

Dimerix provided an update on its Phase 3 ACE2 renin angiotensin system (RAS) modulation study domain in Europe. The first 24 patients have been recruited into the study in patients with COVID-19 pneumonia, which incorporates DMX-200. DMX-200 is Dimerix’s chemokine receptor (CCR2) blocker that has been included in the global COVID-19 trial. 

The Dimerix share price has rocketed higher on the news with 22 patients from the Netherlands and 2 in the UK. Patients receive one of three randomly assigned interventions or a control as part of the study.

It comes as the World Health Organisation (WHO) has recorded 5.2 million new cases of COVID-19 in the last 7 days. That’s the most cases in a week since the beginning of the pandemic with both case numbers and deaths increasing in recent weeks.

The Dimerix feasibility/Phase 3 study is a “multi-centre, randomised, standard of care vs multi-active comparators platform study in patients with COVID-19”. The three RAS blockade strategies are:

• Angiotensin receptor blocker (ARB)
• ARB in combination with DMX-200
• Angiotensin converting enzyme (ACE) inhibitor
• No RAS inhibitor (no placebo)

How have the company’s shares performed?

The Dimerix share price rocketed higher on the news this morning before paring back some gains throughout the morning. Shares in the Aussie biotech company have been volatile in the last year or so.

In fact, the ASX biotech share plunged 63% lower in just one day, back in September 2020. That came after the company reported results from its phase 2 study of DMX-200 in patients with diabetic kidney disease. The study showed no statistically significant difference across the cohort between those receiving DMX-200 and the placebo treatment.

However, the Dimerix share price has gained 8.3% so far in 2021 including today’s early gains.

More reading

• ASX 200 down 0.1%: Kogan crashes, AMP’s demerger plans, Telstra strengthens 5G network
• Hyperion Metals (ASX:HYM) share price hits another record high
• Why the Prospa (ASX:PGL) share price has surged 7%
• Can the WiseTech Global (ASX:WTC) share price climb higher from here?
• Vitalharvest (ASX:VTH) share price pause as M&A battle continues

Motley Fool contributor Ken Hall 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 Dimerix (ASX:DXB) share price is rocketing higher appeared first on The Motley Fool Australia.

from The Motley Fool Australia https://ift.tt/3nkgljl

The Prospa Group Ltd (ASX: PGL) share price has shot higher at the open on Friday. Shares in the Aussie financials group are up 7.06% to $0.91 per share after the company’s latest quarterly update.

Why is the Prospa share price shooting higher?

Prospa reported total originations returning to their pre-COVID levels faster than anticipated. That includes a third quarter (Q3 2021) origination of $121.0 million, marginally higher than the $122.2 million posted in the December quarter. Originations also jumped 20% compared to the December second quarter figures of $100.7 million.

Prospa reported “strong month on month growth” in originations with $30.8 million, $39.9 million and $50.3 million in January, February and March, respectively. 81% of originations were small business loans with a further 19% in its Line of Credit product.

The Prospa share price has shot higher on the news with investors bullish on the latest update. Prospa said its New Zealand business continues to perform well including 11% quarter on quarter originations growth.

Average Gross Loans increased to $354 million in the quarter with an annualised yield stable for the financial year to date of 32%. Total revenue before transactions costs edged 3% higher to $28.5 million, up from $27.7 million in the December quarter. The company said that signals a “post-COVID turnaround point” for the business.

Prospa CEO Greg Mosahl said, “Prospa has seen better than anticipated growth in originations, driven by stronger economic confidence and investment within the SME sector”. “It is particularly encouraging to see such high levels of activity in the March quarter considering this is typically a quieter period than the busy December holiday season”, he added.

The Prospa share price has left 7.06% at the time of writing to $0.91 per share. That means the company now boasts a $138.8 million market capitalisation after this morning’s move.

The All Ordinaries Index (ASX: XAO) has edged 0.2% lower this morning in a soft start to the trading day.

More reading

• ABS data shows Australians maintained wealth during COVID
• ASX stock of the day: AnteoTech (ASX:ADO) shares top ASX
• ASX 200 Weekly Wrap: ASX 200 hits new post-COVID high
• What happened with the Betmakers (ASX:BET) share price this week?
• Why the Viva Leisure (ASX:VVA) share price is one to watch

Motley Fool contributor Ken Hall 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 Prospa (ASX:PGL) share price has surged 7% appeared first on The Motley Fool Australia.

from The Motley Fool Australia https://ift.tt/2QNkeRQ

The WiseTech Global Ltd (ASX: WTC) share price has been a strong performer in recent weeks.

Since this time in March, the logistics solutions provider’s shares have risen by a solid 12.5%.

This compares favourably to a 4.5% gain by the S&P/ASX 200 Index (ASX: XJO) over the same period.

Why is the WiseTech Global share price on form?

The catalyst for the strong gain by the WiseTech Global share price appears to have been a broker note out of Macquarie Group Ltd (ASX: MQG) last month.

That note reveals that the broker upgraded its shares to an outperform rating with a $33.00 price target.

Macquarie made the move on the belief that the worst of the pandemic is now behind the company and upgraded its earnings forecasts to reflect this.

With the WiseTech Global share price fetching $30.75 today, this implies potential upside of approximately 7.5% over the next 12 months.

What are other brokers saying?

This morning, Bell Potter gave its verdict on the WiseTech Global share price.

According to the note, the broker has held firm with its hold rating and lifted its price target to $31.50.

Bell Potter commented: “We believe there is upside risk to WiseTech’s FY21 revenue and EBITDA guidance for two key reasons: 1. Global trade volumes continue to rebound strongly post the impacts of the US-China trade war in 1HFY20 and COVID in 2HFY20; and 2. The AUD/USD exchange rate has averaged 0.77 so far this half whereas the guidance assumes an average of 0.79 in 2HFY21.”

“We also note the continued lack of any M&A activity this half which supports a strong EBITDA margin in 2HFY21 similar or better than the EBITDA margin in 1HFY21,” it added.

In addition, the broker believes that the resumption of the share sell down by its CEO is actually a positive.

The broker explained: “We also believe the flagged recommencement of Richard White’s sell down implies the company is at least on track to achieve its guidance as we doubt the CEO would be selling if the result was not going to be good.”

However, due to its valuation, it isn’t enough for the broker to upgrade its rating to buy just yet.

More reading

• ASX 200 up 0.6%: Zip rises, Resolute rockets, tech shares storm higher
• Why ASX 200 tech shares are vital to manufacturers’ reshoring plans
• 5 things to watch on the ASX 200 on Friday
• Top brokers name 3 ASX shares to buy today

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 WiseTech Global. The Motley Fool Australia owns shares of and has recommended Macquarie Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post Can the WiseTech Global (ASX:WTC) share price climb higher from here? appeared first on The Motley Fool Australia.

from The Motley Fool Australia https://ift.tt/2ROE2EI

Trading in the Vitalharvest Freehold Trust (ASX: VTH) share price has been paused after an update today on its takeover battle between Roc Partners and Macquarie Agricultural Funds Management (MAFM).

Shares in the Aussie real estate investment trust (REIT) closed at $1.215 per share on Thursday afternoon.

What’s with the Vitalharvest share price?

Vitalharvest is in the middle of a takeover tug of war between the two investment groups. This morning, the Aussie REIT received a further proposal from MAFM, the sixth of its kind. The Sixth MAFM Proposal is offering $1.24 per unit or $344.4 million for the Aussie agricultural REIT.

The latest MAFM update comes after Vitalharvest received an updated offer from Roc yesterday. The Fifth Roc offer valued Vitalharvest at $1.23 per unit or $342.55 million. That offer also changed the scheme implementation deed to reflect likely timing after 30 June 2021.

Both the latest Roc and MAFM proposals permit a 2.5 cents per unit distribution. That has been reflected in the Vitalharvest share price remaining below the headline offer price.

Vitalharvest requested a pause in trading before announcing the latest offer. Both Roc and MAFM appear willing to push their offers higher to acquire the agricultural REIT.

What does Vitalharvest do?

Vitalharvest is an Agricultural REIT that controls berry and citrus farms across Australia. The Aussie REIT has locations across New South Wales, South Australia and Tasmania that are currently leased to Costa Group Holdings Ltd (ASX: CGC).

Vitalharvest has been the target of the ongoing takeover war between the US-based Roc Partners and MAFM. The Vitalharvest share price has surged 24.5% higher since the start of the year on the back of the various proposals.

The Aussie REIT currently boasts a $222.9 million market capitalisation at a price to earnings (P/E) ratio of 18.2 times.

More reading

• Why the Vitalharvest (ASX:VTH) share price is on watch next week
• ASX 200 rises above 7,000, Resolute Mining soars, Galaxy jumps
• Why the Vitalharvest (ASX:VTH) share price is up 21% in 2021
• ASX 200 climbs 1%, Westpac rises, Western Areas jumps

Motley Fool contributor Ken Hall 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 Vitalharvest (ASX:VTH) share price pause as M&A battle continues appeared first on The Motley Fool Australia.

from The Motley Fool Australia https://ift.tt/3dENoeJ

The CSL Limited (ASX: CSL) share price has been rebounding lately after hitting a 52-week low of $242.00 on 9 March. Since then, the company has gained 12.95%, with CSL shares currently trading at $273.35.

The global biotech has been busy producing the AstraZeneca COVID-19 vaccine while attempting to combat plasma collection concerns. Could this be the catalyst for its recent share price rise?

What’s driving the CSL share price higher?

Investors appear upbeat about the company’s progress to address its current issues as well as its attempts to open up new opportunities.

As announced on 14 April, CSL has been focused on increasing its plasma-protein production through its launch of a global challenge. The company is inviting members of the public to submit innovative ideas on how it can maximise its production of Human Immunoglobulins G (IgG). The person who wins will receive a $40,000 reward along with 1:1 mentoring sessions with CSL Behring.

CSL certainly appears to be thinking outside the box and actively pursuing creative programs to overcome its plasma concerns. This comes against the backdrop of a COVID-19-related reduction in the collection of plasma, which is vital for the company’s production of life-saving therapies.

In more recent news, the Australian Government’s push to locally manufacture mRNA coronavirus vaccines is gaining media attention. However, United States drug titan Pfizer has dashed any hopes of securing a licensing agreement to locally produce its COVID-19 vaccine here in Australia in the short term. The company said that it’s focused on existing vaccine manufacturing facilities across North America and Europe.

However, this hasn’t stopped the Victorian Government from pledging $50 million for a plan to create a local mRNA vaccine manufacturing ability in the future. This would protect national supply and eliminate shipment blocks such as the recent Italian fiasco. Developing such a capability could take less than a year, provided CSL was on board.

Currently, the Morrison government has placed an order for 40 million doses of the Pfizer vaccine which is expected to be fulfilled by the end of 2021. As the Pfizer vaccine trickles in, the doses will be distributed to people under the age of 50 years old. The AstraZeneca vaccine has now been allocated for use in patients over 50 years of age due to rare, blood-clotting side effects seen in some younger people.

So far, almost 1.8 million Australians have received their first jab of the COVID-19 vaccine. CSL is contracted to fill a government order of 50 million doses of the AstraZeneca vaccine. It hopes to achieve local production of 1 million vials per week.

Foolish takeaway

It’s been an eventful 12 months for the CSL share price, which has moved in peaks and troughs across the period. The company’s shares rose to a high of $322.75 last April, before falling to 2019 lows of $242.00 this year.

Year-to-date performance has seen CSL shares register a drop of just 4% due to an uptick in investor sentiment. Over a 12 month period, its shares have slightly improved to record a fall of around 11%.

As the ASX’s third-largest company by market capitalisation, CSL is worth $123.22 billion.

More reading

• Wesfarmers’ (ASX:WES) Bunnings open to hosting COVID vaccine hubs
• AUSSIE-FIRST: How to buy a fraction of an ASX share
• Aussie dollar shoots higher! Here are some ASX winners
• CSL (ASX:CSL) share price wobbles on plasma and vaccine update
• Why the CSL (ASX:CSL) share price might be headed for more trouble

Aaron Teboneras owns shares of CSL Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of CSL Ltd. 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 CSL (ASX:CSL) share price has rebounded 13% since March appeared first on The Motley Fool Australia.

from The Motley Fool Australia https://ift.tt/3dGmqmT