Tag: Motley Fool

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

Two that investors might want to get better acquainted with are listed below. Here’s what you need to know about them:

MyDeal.com.au Limited (ASX: MYD)

The first small cap ASX share to look at is MyDeal.com.au. It is an online retail marketplace with a focus on homewares, furniture, and technology.

As with many ecommerce companies, MyDeal has been growing very strongly during the pandemic. For example, last month it released its half year results and revealed a 217% increase in gross sales to $126.7 million. Underpinning this growth was increased repeat purchasing and a jump in active customers to 813,764.

Positively, MyDeal appears well placed to continue this positive form over the next decade thanks to the ongoing shift to online shopping and its growing its private label business.

Interestingly, despite its strong form since its listing late last year, the MyDeal share price is now trading below its IPO price of $1.00. Morgans appears to see this as a buying opportunity. Last month it put an add rating and $1.70 price target on its shares.

Nitro Software Ltd (ASX: NTO)

Another growing small cap ASX share to watch is Nitro. It is the document productivity software company behind the popular Nitro Productivity Suite.

The Nitro Productivity Suite solution provides users with integrated PDF productivity and electronic signature tools via a software-as-a-service and desktop-based software solution. This is proving to be a very popular solution for businesses great and small. Nitro notes that it has customers as large as Barclays and IBM and as small as sole traders.

Strong demand for the Nitro Productivity Suite solution led to the company reporting a 64% increase in annualised recurring revenue (ARR) to $27.7 million in FY 2020. Pleasingly, similarly strong growth is expected in FY 2021. Last month management advised that it expects its ARR to be in the range of $39 million to $42 million this year. This represents year on year growth of 41% to 51.6%.

One broker that is a fan of Nitro is Morgan Stanley. Earlier this month the broker retained its overweight rating and lifted the price target on its shares to $3.70

More reading

• Is this the best small cap ASX share to buy now?
• Brokers name 2 exciting small cap ASX shares to buy
• The MyDeal (ASX:MYD) share price is down 22% in a month: Is it time to buy?
• 2 small cap ASX shares you need to know about
• Leading brokers name 3 ASX shares to buy today

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Nitro Software 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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One of the best ways to set yourself up for a comfortable retirement is by having a passive income stream that is both reliable and has the potential to grow over time.

Investing in companies that share their profits through dividend payments is arguably the most efficient way of achieving this in the current environment.

But which ASX shares should you buy for a retirement portfolio? Two to consider are listed below:

Coles Group Ltd (ASX: COL)

The first option to consider for a retirement portfolio is this supermarket giant. It could be a good option due to its solid long term growth prospects, generous dividend policy, and defensive qualities.

Those qualities were on display for all to see in FY 2020 and the first half of FY 2021. In respect to the latter, for the six months ended 31 December, Coles reported an 8% increase in revenue to $20,569 million and a 14.5% increase in net profit to $560 million.

And while its growth will inevitably moderate now as trading conditions return to relatively normal, the company remains well-positioned over the long term. Especially given its focus on automation, which is expected to reduce costs notably in the coming years.

Combined with like for like sales growth, this should underpin solid earnings and dividend growth over the 2020s. Goldman Sachs is confident in its growth trajectory and recently retained its buy rating and $20.70 price target.

Telstra Corporation Ltd (ASX: TLS)

Another quality option for a retirement portfolio could be Telstra. While the telco giant has been underperforming in recent years, this has been driven by the NBN rollout. This rollout has led to telephone lines being removed, taking away a lucrative income stream.

The good news is that the NBN headwind is now easing and the company’s T22 strategy is delivering on its goals. As a result, management is now targeting a return to growth in FY 2022. It is also looking to unlock value by splitting the company up and monetising some of its assets.

Overall, this has analysts believing that Telstra’s dividend is now sustainable at the current level of 16 cents per share. Based on the current Telstra share price of $3.42, this represents a fully franked 4.7% yield.

Goldman Sachs is also a fan of Telstra. It currently has a buy rating and $4.00 price target on its shares.

More reading

• Is Coles (ASX:COL) a great value ASX dividend share?
• Telstra (ASX:TLS) share price up 10% in March but could go even higher
• Over 1 in 4 Australians are investing in the ASX: report
• Why an AGL Energy (ASX:AGL) demerger might be a problem
• Telstra (ASX:TLS) share price gains: Is the 52-week high next?

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 owns shares of COLESGROUP DEF SET. 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 CSL Limited (ASX: CSL) share price has been under pressure over the past number of months. This comes despite the company continuing to perform its business operations with COVID-19 in the background.

Since late November, the global biotech’s shares have fallen around 16% in value. Today, CSL shares can be picked up for $266.67 apiece at the time of writing. This reflects an attractive discount for a quality blue-chip company.

Below, we take a look at 3 reasons why the CSL share price could be good value today.

Impeccable growth track record

While CSL shares might be temporarily down from their 2020 highs, the company has been around since 1916. Formerly known as Commonwealth Serum Laboratories, CSL has grown from a small-cap stock to become a global biotherapeutics and vaccine company.

With more than 1,700 scientists working across the world, this biotech behemoth specialises in developing and delivering plasma-derived products for treating serious and rare diseases, as well as being one of the largest influenza vaccine providers.

In its most recent financial report, CSL recorded $5,739 million in revenue, which amounted to a 15% increase over H1 FY21.

To put into perspective how large the company has grown over time, CSL reported $3,056 million in revenue from 5 years ago (H1 FY16). That’s almost double the revenue in just a few short years of the company’s long history.

COVID-19 will pass

No one could have foreseen what 2020 would behold with COVID-19 severely impacting the global economy and affecting everyday lives.

More than  128 million people have been confirmed to have been infected with the virus, representing almost 2% of the entire world population. Although the World Health Organisation said that best estimates indicate roughly 1 in 10 people worldwide may have had the virus.

As the worst may be over with pharmaceutical companies rolling out vaccines hastily to governments, COVID-19 is expected to subside. Experts predict that social norms will gradually return sometime in late 2021 to early 2022.

This could mean that CSL will see its plasma collections return to normal levels as well as the resumption of postponed R&D programs. The company traditionally uses its free cash flow amounts to drive growth through funding its R&D division.

CSL share price weakness

CSL shares have been treading lower in the past year, now trading at almost the same price as recorded in November 2019. The company momentarily reached a high of $320.42 in late November 2020 before trending downwards from there.

The CSL share price hit a 52-week low of $242.00 earlier this month and appears to have bottomed out. Since then, its shares have been on an upwards trajectory.

As one of the ASX market’s largest companies in terms of market capitalisation, the CSL share price is valued at $119.5 billion. Furthermore, the company has more than 455 million shares on issue.

More reading

• The A2 Milk (ASX:A2M) share price was down almost every day in March
• Over 1 in 4 Australians are investing in the ASX: report
• BlueScope (ASX: BSL) share price could get cut of Biden’s US$3tn boost
• Which is the better investment: An ASX share portfolio or an index fund?
• 3 things to expect from CSL (ASX:CSL) over the next decade

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.

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If you’re wanting to follow in the footsteps of Warren Buffett and make some buy and hold investments, then you might want to take a look at the ASX shares listed below.

Both of these shares appear fairly priced to analysts, have strong business models, and very positive long term outlooks. Here’s why they could be shares to buy:

Nanosonics Ltd (ASX: NAN)

The first ASX share to consider as a buy and hold investment is Nanosonics. It is the infection control specialist behind the industry-leading trophon EPR disinfection system for ultrasound probes.

The company’s trophon EPR system has been growing its market share at a consistently solid rate over the last decade. This has underpinned solid unit sales and even stronger recurring revenue growth from the consumables the system requires.

And while the pandemic has hit the company hard, it is also raising awareness of the importance of infection control. This bodes well for the company once the pandemic passes. Especially given how Nanosonics is aiming to release several new products targeting unmet needs in the near future.

Analysts at UBS are positive on the company. Last month they put a buy rating and $7.20 price target on its shares. UBS believes Nanosonics is a high-quality structural growth story, particularly in a post-COVID world.

NEXTDC Ltd (ASX: NXT)

Another ASX share that could be a good buy and hold option is NEXTDC. It is a technology company that provides innovative data centre outsourcing solutions, connectivity services, and infrastructure management software.

NEXTDC has been a big winner from the ongoing shift to the cloud. This has led to demand for data centre services increasing strongly over the last decade. Positively, the shift still has a long way to go, which bodes well for its future.

But management isn’t resting on its laurels. The company recently opened up offices in Singapore and Tokyo with a view of expanding into these markets in the near future. If it can repeat its success in this market, its growth could continue for a very long time to come.

Goldman Sachs is a fan of the company. Last month its analysts put a buy rating and $13.50 price target on the company’s shares.

More reading

• NEXTDC (ASX:NXT) share price tipped to charge 28% higher
• 2 rapidly growing ASX shares that could be strong buys in April
• The Nanosonics (ASX:NAN) share price is down 25% this year
• 2 of the best ASX shares to buy this month
• How this exponential growth could send ASX 200 data centre shares soaring

James Mickleboro owns shares of NEXTDC Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Nanosonics Limited. The Motley Fool Australia has recommended Nanosonics 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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I like to keep an eye on substantial shareholder notices. This is because these notices give you an idea of which shares large investors, asset managers, and investment funds are buying or selling.

Two notices that have caught my eye are summarised below. Here’s what these fund managers have been buying:

BWX Ltd (ASX: BWX)

A notice of change of interests of substantial holder reveals that Eley Griffiths has been increasing its stake in this personal care products company. According to the notice, the specialist investment management company has added a total of 1,655,004 shares to its holding in recent months. This has taken its stake to 8,507,443 shares, which lifts its interest from 5.04% to 6.06%.

One broker that would approve of these investments is Macquarie. Earlier this month the broker retained its outperform rating and lifted its price target to $5.30. This compares to the current BWX share price of $4.35. Macquarie appears to see promise in the company’s partnership with Chemist Warehouse and its expansion in the supermarket channel with a deal with Woolworths Group Ltd (ASX: WOW).

Redbubble Ltd (ASX: RBL)

According to a notice of initial substantial holder, Kayne Anderson Rudnick (KAR) Investment Management has been building a position in this ecommerce company over the last few months. The notice reveals that the LA-based investment firm started buying Redbubble shares on 24 February and was still doing so as recently as last week. KAR Investment Management now owns a total of 13,881,972 shares, which equates to a 5.07% interest.

Judging by its purchases, it appears to believe the recent weakness in the Redbubble share price is a buying opportunity. One broker that would agree with this is Morgans. Last month the broker put an add rating and $6.64 price target on its shares. This compares to the latest Redbubble share price os $5.05.

More reading

• 2 ASX tech shares to buy in April 2021
• Is Temple & Webster (ASX:TPW) the best e-commerce ASX share to buy right now?
• ASX 200 crash anniversary: 5 of the best performing shares of the last 12 months
• Top brokers name 3 ASX shares to buy today
• Got cash to invest? Here are 2 ASX shares to buy

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended BWX 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 Great Western Exploration Limited (ASX: GTE) share price has risen 6% today to 26 cents per share after the gold, copper, and nickel explorer completed its Finlayson gold target.

Great Western completed reverse circulation (RC) drilling in Finlayson, WA, which is about 70km north of the rich gold mining territory of Wiluna. 

RC drilling is a type of exploratory drilling relying on circulated air pressure to transport rock cuttings through hollow inner tubes. Great Western is now moving its RC drill rig onto its next gold target at Golden Bullock, near Sandstone in WA.

Great Western is primarily focused on identifying and evaluating the precious metals, rather than mining and refining them. Both the Finlayson and Golden Bullock drilling sites are 100% licenced by Great Western. 

Great Western’s Finlayson results

Great Western’s RC drilling intersected a sequence of dolerite and ultramafic with wide zones of shearing and strong alteration that includes sulphides.

The samples it collected are now on their way to the lab, with assay (the testing of a metal or ore to determine its ingredients and quality) results expected in 4–6 weeks. 

Great Western’s Managing Director Tom Ridges said that the Finlayson results were promising and Golden Bullock may prove equally so.

We are very pleased with the validation of our exploration model at Finlayson and how the drill programme has progressed. The company awaits the assay results.

We now turn our attention to commencing the Golden Bullock drill programme to test a large gold geochemical anomaly the company delineated earlier this calendar year.

This has proven enough to continue investor excitement around the company, with today’s gains increasing the Great Western share price to a 392.42% return over the past year.

The Golden Bullock ‘surface anomaly’ 

Great Western is now exploring a site around the Atley North Gold Project, which Great Western delineated earlier this calendar year. The initial RC drilling programme at Golden Bullock is expected to take approximately 2–3 weeks.

The Golden Bullock site has drawn investor and exploratory interest due to its large-scale surface geochemical anomaly, which is generally associated with gold mineralisation.

This area has a substantial strike (exploratory) length of over 2.5 kilometres and a width of 1.5 kilometres, making it a potentially lucrative slice of the greater Sandstone region.

The Great Western share price this past year

The Great Western share price has been on a tear over the past 12 months, rising from 2 cents in May 2020 to a high over 31 cents last month, before settling around its current price throughout March.

It’s beaten the already impressive basic materials sector by 341% over the past 12 months and remains a small-cap share, with a current market capitalisation of $35 million.

More reading

• Eagle Mountain (ASX:EM2) share price rose to 51% after high-grade discovery
• The Kogan (ASX:KGN) share price has nearly halved in 2021
• Wiluna (ASX:WMX) share price rises on further gold discoveries
• Why the Wesfarmers (ASX:WES) share price is up today
• Is Coles (ASX:COL) a great value ASX dividend share?

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 Eagle Mountain Mining Ltd (ASX: EM2) share price is rose to 51% today after news the company discovered the highest grades of gold, silver and copper ever found at its Oracle Ridge project. The company stated its assay results found the deposit and its trying to mobilise another drill rig to speed up drilling.  

The Eagle Mountain share price reached a whopping 71 cents today. At the time of writing, the share price retreated slightly to 66 cents, still up 40.86%. 

Let’s look further into the company’s assay results.

What luck!

Oracle Ridge is foremost a copper mine, but the latest assay results have found gold and silver as well. Including:

12.7m at 3.96% Cu, 49.1g/t Ag and 1.4g/t Au from 363.1m, including:

• 8.7m at 5.20% Cu, 66.7g/t Ag and 1.98 g/t Au, with
• 34.4% Cu, 367g/t Ag and 26.2g/t Au over 0.4m in massive chalcopyrite zone, the highest-grade assay ever recorded at Oracle Ridge.

14.0m at 2.1% Cu and 22.6g/t Ag from 275.0m, including:

• 7m at 3.16% Cu and 31.4g/t Ag.
• 2m overall mineralised intercept grading 1.38% Cu and 14.8g/t Ag.

Assay results are still pending for another 3 holes. Diamond drilling is also taking place to enlarge the mineral resource.

Drilling is continuing throughout the site, while contractors are improving access to other areas of the mine. The company said historical pads will be refurbished, with access tracks improved for safer, more efficient drilling operations.

Commentary from management

Eagle Mountain Mining’s CEO Tim Mason said the company is excited about its discovery:

We are thrilled by the outstanding grades but also extremely pleased by the thickness of the mineralised zone at the Leatherwood contact.

I sincerely thank our dedicated geology team, including Fabio Vergara and Brian Paull, for their work which has led to this exciting discovery.

While drilling continues, we are expediting earthworks to obtain access to new drill pads, particularly in the southern area where strongly mineralised holes drilled in the 1970s have never been followed up.

Eagle Mountain share price snapshot

The Eagle Mountain Mining share price is exploding on the ASX today.

It is currently up 50% year to date, and a massive 781.25% over the last 12 months.

The company has a market capitalisation of around $85 million, with approximately 183 million shares outstanding.

More reading

• Great Western Exploration (ASX:GTE) share price up 6% on drilling results
• The Kogan (ASX:KGN) share price has nearly halved in 2021
• Wiluna (ASX:WMX) share price rises on further gold discoveries
• Why the Wesfarmers (ASX:WES) share price is up today
• Is Coles (ASX:COL) a great value ASX dividend share?

Motley Fool contributor Brooke Cooper 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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So far, 2021 has not been kind to this online retailer with the Kogan.com Ltd (ASX: KGN) share price losing almost half its value year to date.  

Shares in Kogan started the year at around $19, before hitting a 2021 high of $21.67 in late January. Since then, the Kogan share price has tanked by more than 44% after dropping another 0.58% so far today.

At the time of writing, shares in Kogan are trading at $12.09.

Let’s take a look at what’s been happening for Kogan.

What’s with the Kogan share price?

Kogan emerged as a market darling during Australia’s COVID-19 lockdown last year. Cashed up consumers flocked to Australia’s largest online retailer as many people worked from home or avoided large public spaces. As a result, the Kogan share price bolted to all-time highs.

However, in 2021 many investors have lost interest in the online retailer.

The catalyst can be traced back to late January when the company released a business update for the first half of FY21.

Kogan reported a 96% increase in gross sales over the prior corresponding period. It also reported a 120% increase in gross profit and boasted a strong balance sheet with a cash balance of $78.9 million.

Investors were not impressed with the slower rate of growth, sending the Kogan share price 5% lower for the day. However, Kogan noted that the slower growth was mainly attributed to warehouse capacity issues which had been resolved in the short term.

How did Kogan perform for the first half of FY21?

The second catalyst that prompted investors to sell their Kogan shares was the company’s first-half report.

For the six months ended 31 December, the company reported a 97.4% increase in gross sales to $638.2 million and an 88.6% jump in revenue to $414 million. Despite record spending on marketing, Kogan also reported a 165% increase in net profit of $23.6 million.

The retailer also highlighted a 77% year-on-year increase in active customers to 3 million. In addition, it noted strong growth in its Kogan First loyalty program. It appears these numbers also failed to excite shareholders. 

What is the outlook for Kogan?

For the second half of FY21, Kogan plans to further expand its exclusive brands. In addition, the company continues to enhance and develop Kogan Marketplace and its active customer base.

The company did not provide earnings guidance for the full year, rather opting to provide regular business updates.

Kogan also faces a few headwinds in the short term with rising bond yields. As bond yields rise, investors will be looking to have greater exposure to traditional value companies and sectors hit by the COVID-19 pandemic.

More reading

• 2 ASX tech shares to buy in April 2021
• 2 highly-rated ASX growth shares to buy
• 2 ASX dividend shares to buy in April
• $10,000 invested in the Kogan (ASX:KGN) IPO is worth how much today?
• Got money to invest? Here are 2 ASX shares to buy

Nikhil Gangaram has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Kogan.com ltd. The Motley Fool Australia has recommended Kogan.com 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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The Wiluna Mining Corporation Ltd (ASX: WMX) share price is lifting today after the company discovered more high-grade gold and sulphur drilling zones near its existing mine works.

At the time of writing, the Wiluna share price is up 1.52%, trading at $1.00 per share.

Wiluna is a Perth-based gold mining company that controls more than 1,600 square kilometres of the Yilgarn Craton in the Northern Goldfields of WA. It owns 100% of the Wiluna mine, which is the 7th-largest gold district in Australia under single ownership.

Yesterday, Wiluna revealed its stage 1, 750 kilotonne-per-annum flotation plant construction and mine development, in addition to a series of other projects, were all on schedule. 

High-grade results

The company’s Wiluna mine has four mining zones named Starlight, Essex, Golden Age, and the Calvert and East Lode. The Golden Age zone is proving a winner, revealing “exceptional” high-grade extensions.

These results were discovered from an additional 30 holes and 8,218m of drilling. The gold discoveries are expected to enhance head grade (the gold content) at the current operation as large open-pit stockpiles continue to contribute to the major portion of processing feed.  

But today’s announcement is focused on the discovery of additional high-grade drilling results at the mine’s Starlight and Essex zones, which were discovered close to existing mine workings in the Wiluna headframe. The headframe is the structure above the mine shaft, which allows the hoisting of equipment.

Wiluna’s current zone mine production

The Essex zone is currently producing 2.35m @ 61.05g/t including 0.37m @ 313g/t (visible gold logged). The Essex zone is one of the shallow, high-grade sulphide ore bodies that Wiluna is focused on during its early mining stages and is delivering “visible gold intersections at numerous holes”.

The Starlight zone is producing 5.04m @ 6.09g/t; and 2.17m @ 9.45g/t. Another shallow depth mine, Starlight is showing high-grade sulphur intersections. This zone is located only 200m away from the existing underground mine development, which Wiluna says could be rapidly brought into production at low capital cost.

Meanwhile, the Golden Age zone is producing 6.58m @ 2.44g/t including 0.50m @ 15.50g/t as is providing the bedrock for the current Wiluna share price recovery.

Wiluna share price snapshot

The Wiluna share price has fallen steadily from a high of $2.18 on 23 September 2020 to its current level.

Despite today’s gains, Wiluna share price is down 6.7% this week, 13% this month and 27% this year to date.

More reading

• Wiluna (ASX:WMX) share price at a standstill despite ‘outstanding progress’

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 Wesfarmers Ltd (ASX: WES) share price is having a top day today. At the time of writing, Wesfarmers shares are up 1.61% to $53.07 a share. That looks especially impressive when you consider the broader S&P/ASX 200 Index (ASX: XJO) is up 1.56%.

Today’s move caps off what has been a pretty good month for Wesfarmers shares. Since 1 March, the Wesfarmers share price is up 5%. Saying that, this conglomerate is still more than 5% below the all-time high of $56.40 a share that we saw back in February.

This ASX blue chip has done exceptionally well over the past year, which of course includes the pandemic and all of the economic woes that came along with it.

Over the past 12 months, Wesfarmers shares are up a staggering 55.5%. They are also up more than 16% from the pre-COVID high that Wesfarmers hit (just over $46), which was an all-time high at the time. 

So why have Wesfarmers shares been in demand of late in particular?

The stars align for Wesfarmers shares

Everything has been going the way of Wesfarmers over the past year. Its flagship retail chains – Bunnings Warehouse and Officeworks – benefitted enormously from lockdowns. It seems when people in lockdown have nothing to do but renovate their houses and build home offices, Bunning and Officeworks do well.

But here’s what might be the one real gamechanger for Wesfarmers shares of late: lithium.

Wesfarmers became a player in the lithium space when it acquired lithium miner Kidman Resources back in 2019. Today, the company has expansive plans to build a lithium mine, concentrator and refinery at its Mt Holland lithium project in Western Australia that it inherited from Kidman. Lithium production is expected to commence in the second half of 2024.

Lithium miners and producers have been enjoying a surge in investor sentiment over the past few months, which may have spilled over into the Wesfarmers share price. Just take an ASX lithium miner like Pilbara Minerals Ltd (ASX: PLS). Its share price is up 150% over the past 6 months. Another lithium miner in Galaxy Resources Limited (ASX: GXY) is up 125%.

It’s possible that investors have noticed the surging values of companies in this sector and have rewarded Wesfarmers accordingly.

And, after the year Wesfarmers has had, that’s just another feather in its cap, it seems.

More reading

• ASX 200 jumps 1.35%: Zip inks deal with JB Hi-Fi, Suncorp’s flood update
• Over 1 in 4 Australians are investing in the ASX: report
• 5 things to watch on the ASX 200 on Wednesday
• Why an AGL Energy (ASX:AGL) demerger might be a problem
• ASX 200 dips, AGL to split in two, NAB’s neobank acquisition approved

Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of Wesfarmers 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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