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The Macquarie Group Ltd (ASX: MQG) share price is looking attractive at the moment, despite its strong run up in recent months.

Over the last six months, Macquarie shares have risen by 25% over the last six months. But there could be more to come as the business benefits from the recovery.

Macquarie is one of the most global ASX blue chips at the moment, with around two thirds of its earnings coming from international sources.

These are a few reasons why Macquarie could be one to watch:

Stronger near-term profit outlook

One of the most important ways to judge a business is by its profit-making potential and profit actual results.

Macquarie has had a volatile last 12 months, but it’s now reporting that the profit is getting stronger

Despite giving the market profit guidance on 9 February 2021 saying that the FY21 result was likely to be slightly down, Macquarie came back to the market a few weeks later to say that it was now expecting net profit after tax for FY21 to be up 5% to 10% compared to the last financial year.

Macquarie explained that extreme winter weather in North America had significantly increased short-term client demand for Macquarie’s capabilities in maintaining critical physical supply across the commodity complex and particularly in relation to gas and power.

The global investment bank’s commodities and global markets (CGM) business physically ships gas on the majority of major pipelines across the US and over time has built capacity to support clients by delivering power and physical commodities to help them meet the unexpected needs of their customers.

Recovering global economy

A year ago things were looking pretty bleak for the global economy as the COVID-19 pandemic ravaged the world and caused massive market volatility and dislocation.

As a global investment bank, Macquarie needs a decent operating environment to generate profit growth. Macquarie is seeing improving trading conditions in certain areas, though it did admit that market conditions are likely to remain challenging.

The ASX share was confident enough to pursue the acquisition of NYSE-listed Waddell & Reed Financial a few months ago, which had US$68 billion of assets under management (AUM) at the time of the announcement.

This acquisition is expected to push Macquarie Asset Management’s AUM over A$650 billion, making it one of the 25 largest actively managed, long-term, open-ended US mutual fund managers by AUM.

The deal will add scale and diversification to the business.

Diversified earnings

Macquarie has the ability to invest and grow anywhere in the world that it wants to.

It’s generating profit from right across the world and it can put further resources into segments like green energy, infrastructure or any other trend that it sees as a long-term opportunity.

The business has changed a lot since the GFC and it’s now a much more stable, reliable business. The ‘annuity-style’ businesses provide a particularly defensive amount of annual earnings for the business.

What’s the Macquarie share price valuation?

According to Commsec, Macquarie shares are priced at 19x FY22’s estimated earnings.

It has a forecast partially franked dividend yield of 3.6% for FY22.

More reading

• Why the South32 (ASX:S32) share price is outperforming today
• ASX 200 Weekly Wrap: ASX 200 gets its mojo back
• How do brokers rate the Fortescue (ASX:FMG) share price?
• The ANZ (ASX:ANZ) share price is Macquarie’s top big four bank pick
• Macquarie sees near-term pain for the Afterpay (ASX:APT) share price

Motley Fool contributor Tristan Harrison 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.

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If you’re an income investor on the lookout for new additions to your portfolio, then you might want to look at the shares listed below.

Here’s why these ASX dividend shares could be in the buy zone:

Australia and New Zealand Banking GrpLtd (ASX: ANZ)

The first ASX dividend share to look at is ANZ Bank. It hasn’t been an easy couple of years for the big four banks with the Royal Commission, the housing market downturn, and the pandemic hitting them hard.

However, things are looking significantly better for the banks now. This is due to the housing market recovery, the relaxing of responsible lending rules, and the COVID-19 vaccine rollout. This could make it a good time to consider gaining exposure to the sector.

Positively, analysts at Morgans believe the ANZ share price is trading at a very attractive level. They have recently reiterated their add rating and lifted their price target on its shares to $31.00. The broker is also forecasting a $1.45 per share dividend in FY 2021 and then a $1.61 per share dividend in FY 2022.

Based on the current ANZ share price, this will mean fully franked yields of 5.15% and 5.65%, respectively.

Aventus Group (ASX: AVN)

Another ASX dividend share to look at is Aventus. It is the largest fully integrated owner, manager, and developer of large format retail centres in Australia.

Thanks to its exposure to everyday needs and the household goods sector, Aventus has been performing very positively during the pandemic. Which is quite a contrast to how some of its retail landlords have been performing.

Last month Aventus released its half year results and reported a modest increase in revenue and a 43% lift in net profit to $103.4 million. The latter includes a $25.7 million increase in the net fair value of its property.

Goldman Sachs is positive on the company and currently has a buy rating and $3.04 price target on its shares. The broker is also estimating that it will pay a ~16.6 cents per share distribution this year. Based on the current Aventus share price, this represents a 5.85% yield.

More reading

• ASX banks are facing millions of cyber attacks each day
• Retail shares: buy what you know, but who owns what you buy?
• ASX 200 Weekly Wrap: ASX 200 gets its mojo back
• Top broker urging investors to take profit now on this outperforming ASX share
• What moved the Commonwealth Bank (ASX:CBA) share price this week

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended AVENTUS RE UNIT. 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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On Tuesday the S&P/ASX 200 Index (ASX: XJO) gave back its morning gains and more and finished the day deep in the red. The benchmark index fell 0.9% to 6,738.4 points.

Will the market be able to bounce back from this on Wednesday? Here are five things to watch:

ASX 200 expected to rebound

The Australian share market looks set to rebound on Wednesday despite a weak night of trade on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 55 points or 0.8% higher this morning. In late trade on Wall Street, the Dow Jones is down 0.1%, the S&P 500 is down 0.1%, and the Nasdaq is flat.

Oil prices lower

Energy producers such as Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) could come under pressure today after oil prices dropped. According to Bloomberg, the WTI crude oil price is down 1.8% to US$60.46 a barrel and the Brent crude oil price has fallen 1.5% to US$64.02 a barrel. The reopening of the Suez Canal was behind the decline.

Gold price sinks

It looks set to be a tough day for gold miners Evolution Mining Ltd (ASX: EVN) and Newcrest Mining Limited (ASX: NCM) after the gold price sank lower overnight. According to CNBC, the spot gold price is down 1.85% to US$1,683 an ounce. This leaves the price of the precious metal trading at a three-week low.

PointsBet rated as a buy

The Pointsbet Holdings Ltd (ASX: PBH) share price will be on watch today. This morning analysts at Goldman Sachs initiated coverage on the sports betting company with a buy rating and $17.50 price target. The broker commented: “We see PBH as well-placed to carve out a niche share of the burgeoning US sports betting market, which we forecast to reach US$39 bn at maturity, implying a robust 40% CAGR out to 2033.”

Shares going ex-dividend

The shares of auto retailer Eagers Automotive Ltd (ASX: APE) and retail giant Harvey Norman Holdings Limited (ASX: HVN) are going ex-dividend this morning and could trade lower. Eligible shareholders can look forward to receiving Eagers Automotive’s 25 cents per share dividend on 20 April and Harvey Norman’s 20 cents per share dividend on 3 May.

More reading

• ASX 200 dips, AGL to split in two, NAB’s neobank acquisition approved
• ‘A COVID sized shock every year’. What climate change could mean for the Australian economy
• ASX stock of the day: Moneyme (ASX:MME) shares in the spotlight
• Are red-hot house prices good for ASX 200 shares?
• BlueScope (ASX: BSL) share price could get cut of Biden’s US$3tn boost

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 Pointsbet Holdings Ltd. The Motley Fool Australia has recommended Pointsbet Holdings 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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If you’re looking for some investment options for April, then you might want to take a look at the mid cap space.

At this side of the market, there are a number of companies with the potential to grow materially over the next decade or two. This could lead to their shares generating outsized returns for investors if everything goes to plan.

With that in mind, here are two mid cap ASX shares to consider buying:

Nearmap Ltd (ASX: NEA)

The first mid cap ASX share to look at is Nearmap. It is a $990 million aerial imagery technology and location data company with operations in Australia and North America.

Nearmap’s leading products give businesses instant access to high resolution aerial imagery, city-scale 3D datasets, and integrated geospatial tools. The beauty of this, is that users can undertake virtual site visits anywhere there is coverage without leaving the home or office. The company notes that this enables informed decisions, streamlined operations, and meaningful cost savings.

Another positive is that Nearmap has recently bolstered its offering with the launch of several new products and add-ons. This includes an artificial intelligence product which has significant potential.

Goldman Sachs is positive on the company and believes Nearmap can grow its revenue by a CAGR of 15% per annum between FY 2020 and FY 2023. In light of this, the broker has placed a buy rating and $2.95 price target on its shares.

Nuix Limited (ASX: NXL)

Another mid cap ASX share to consider is Nuix. It is a growing provider of investigative analytics and intelligence software.

The company’s Discover, Workstation, and Investigate platforms allow users to transform huge amounts of data from various sources (such as emails, social media, and communications) into actionable intelligence. This is proving particularly important in investigations where there can be hundreds or thousands of files to comb through.

One broker that believes Nuix has a bright future ahead of it is Morgan Stanley. As a result, earlier this month the broker put an overweight rating and $10.75 price target on its shares.

More reading

• 2 great value ASX growth shares to buy today
• Airtasker (ASX:ART) share price cools after explosive IPO
• 2 exciting ASX growth shares to buy now
• 5 of the best ASX shares to buy next week
• Why the Nuix (ASX:NXL) share price is surging higher today

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 Nearmap Ltd. 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.

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The Aristocrat Leisure Limited (ASX: ALL) share price may have been out of form on Tuesday but it is still outperforming the market in 2021.

Since the start of the year, the gaming technology company’s shares have risen a sizeable 7%.

This compares to a 0.8% gain by the S&P/ASX 200 Index (ASX: XJO).

Can the Aristocrat Leisure share price go higher?

According to analysts at Goldman Sachs, they believe the Aristocrat Leisure share price can go higher from here.

Although, admittedly, based on the broker’s current price target, the upside may be somewhat limited.

Nevertheless, this morning Goldman Sachs reaffirmed its buy rating and $34.80 price target on the company’s shares. This compares to the latest Aristocrat Leisure share price of $33.61.

What did Goldman Sachs say?

Goldman Sachs was in attendance at Aristocrat Leisure’s recent virtual investor round table.

A few takeaways from the event include:

“Management spoke in a lot of detail to the recovery of ALL’s land based business, and highlighted recent results from a third party survey going to showcase ALL’s superior cabinet while also noting that the recovery across various regions is tracking ahead of their own internal expectations.”

“Further, they noted i) ALL continues to take share across the land based business, ii) in ANZ, a fraction over 90% of machines are active while they also watching the recovery closely, iii) in N/A, 75-85% fleets are activated, and they believe ALL is tracking around 5-7% above these levels, demonstrating success of their tactical recovery plan and higher coin in.”

Things were just as positive for its Digital business.

“Management flagged that they continue to take share in digital against major competitors, and are comfortable that the step up in digital is more permanent in nature than temporary.”

“RAID is now the No.1 western title in the casual genre, EverMerge is No. 2 in the merge category and overall, ALL is a top 5 mobile gaming company in the western world.”

What do other brokers think?

Goldman Sachs isn’t the only broker that is positive on Aristocrat Leisure.

Last week Morgan Stanley put an overweight rating and $38.00 price target on its shares. Whereas Citi currently has a buy rating and $40.60 price target.

Based on the latest Aristocrat Leisure share price, this means potential upside of 13% and 21%, respectively, over the next 12 months.

More reading

• Compared! How are ASX gaming share prices performing?
• 3 of the best ASX shares to buy this month
• Brokers name 3 ASX shares to buy right now
• Aristocrat (ASX:ALL) share price surges as it finds a sweet spot
• 3 highly rated ASX growth shares to buy now

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Warren Buffett and Charlie Munger are two of the most successful and revered investors of all time. They have delivered market-beating returns on a consistent basis over a long period of time.

Although following their strategies may not guarantee high returns, it could have a positive impact on an investor’s portfolio in the long run.

As such, by focusing on industries that an investor understands, looking beyond short-term market movements and holding some cash, it may be possible to earn relatively attractive returns from equities.

Warren Buffett and Charlie Munger’s limited knowledge

Despite their track record of high returns, Warren Buffett and Charlie Munger do not invest in every industry available to them. In fact, many of their most successful investments over the years have been in the consumer goods and banking sectors. They have often overlooked technology businesses, as well as other sectors that many investors have profited from.

The main reason for this is that Buffett and Munger prefer to focus their capital on sectors that they fully understand and where they may have a competitive advantage versus other investors.

This may reduce the risk of their investments since they fully comprehend the potential threats that may be ahead. Similarly, it may mean higher return potential because they are able to identify the most appealing investments in an industry at a given point in time.

Although following a similar approach means that an investor may miss out on some attractive buying opportunities, the success of Warren Buffett and Charlie Munger shows that investors do not necessarily need to be experts in all industries to outperform the stock market.

Looking beyond short-term market movements

Warren Buffett and Charlie Munger also look beyond short-term market movements when investing. This allows them to avoid becoming too fearful in a market downturn, enabling them to buy stocks when other investors are selling them.

Equally, in a bull market, they rarely become excited about a stock market rally. This helps them avoid overpaying for shares when other investors allow their optimism to cloud their judgment.

By taking a long-term view, it is possible to capitalise on the stock market cycle more easily. It shows that gains and losses for the market have never previously lasted in perpetuity. By understanding this cycle and seeking to profit from it, it may be possible to earn higher returns in the long run.

Holding cash

Warren Buffett and Charlie Munger also hold relatively large amounts of cash at all times. They do not rely on its returns but rather use it to be able to respond quickly to short-term market movements that can create temporary buying opportunities. Holding some cash may also provide peace of mind during uncertain periods.

As the 2020 market crash showed, stock markets can recover quickly from their downturns. By being able to react quickly, it may be easier to take advantage of short-term mispricings.

More reading

• Why an AGL Energy (ASX:AGL) demerger might be a problem
• Saxo’s chief economist warns ASX investors of “galloping inflationary risks”
• 3 of the best ASX shares to buy in April
• The Mincor (ASX: MCR) share price slid today despite new mine
• Why Saxo’s global outlook favours ASX commodity shares

Motley Fool contributor Peter Stephens 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 AGL Energy Limited (ASX: AGL) share price has been on a bit of a rollercoaster today. AGL shares initially opened more than 2% higher this morning and climbed all the way to $10.43 soon after open. But then a case of cold feet seemed to set in, and AGL shares spent the rest of the day in freefall. The AGL share price closed at $9.81, down 3.54% for the day, and down close to 6% from the morning’s high watermark.

AGL set the investing world abuzz this morning when it announced a new structural separation plan. As we reported at the time, AGL will split into ‘New AGL’ and ‘PrimeCo’.

New AGL will house the company’s retailing arm, whilst PrimeCo will hold the company’s electricity generation assets (power plants and the like). AGL does not yet have an end date for these plans yet, but told investors that it hopes to have one by the end of the financial year. It’s still unclear whether this plan will result in a full-scale demerger with an ASX spinoff.

So why the two-faced reaction from the market? Well, the initial positive reaction is understandable. The ASX tends to love a demerger (even a potential one), seeing as it often unlocks value for shareholders. We discussed this earlier today in regards to the Telstra Corporation Ltd (ASX: TLS) share price.

Are two AGLs better than one?

We have also seen this play out in real time with the Wesfarmers Ltd (ASX: WES) share price over the past few years. Wesfarmers split off Coles Group Ltd (ASX: COL) from its stable back in November 2018. Both companies now trade independently on the ASX. This move has been almost universally positive for anyone who held Wesfarmers shares before the split. Since November 2018, Coles shares are up more than 22%, and Wesfarmers shares are up more than 60%. That’s not including the generous dividends from both companies that have been paid out since either.

But here’s where AGL might run into some issues if it does decide on a demerger.

ESG (ethical, social and governance criteria) investing has never been a more powerful force on the ASX than it is today. Now AGL may tout its ‘New AGL’ as “leading the transition to a low carbon future“. But the reality is that PrimeCo will still house Australia’s largest portfolio of coal-fired power plants. These include Loy Yang A and Bayswater, as well as the ageing Liddell plant, which will soon be shuttered anyway.

How many investors, managed funds and exchange-traded funds (ETFs) with ESG in mind will want a slice of this new company? That’s a question AGL investors might want to ask themselves. And perhaps they are already asking it, judging by the performance of AGL shares this afternoon.

More reading

• ASX 200 dips, AGL to split in two, NAB’s neobank acquisition approved
• Is the Amaysim (ASX:AYS) share price really tumbling 70% today?
• Telstra (ASX:TLS) share price gains: Is the 52-week high next?
• AGL Energy (ASX:AGL) share price slides after latest announcement
• ASX 200 down 0.15%: AGL to split into two, NAB’s 86 400 acquisition receives ACCC approval

Motley Fool contributor Sebastian Bowen owns shares of Telstra Limited. The Motley Fool Australia owns shares of and has recommended Telstra Limited. The Motley Fool Australia owns shares of COLESGROUP DEF SET and 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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Steen Jakobsen, chief economist at online trading and investment specialist Saxo Bank, sounded a warning bell for ASX investors this afternoon.

Writing in Saxo’s Q2 2021 Quarterly Outlook for global share markets (released late this afternoon), Jakobsen said:

[T]he gargantuan current effort by policymakers to simultaneously solve the three major generational challenges: inequality, the green transformation and infrastructure, will come at a high price in the shape of inflation, a higher marginal cost of capital, and the realisation that they need to be prioritised separately.

‘Violent switch’ means bye-bye balanced budgets

Now all 3 of these generational challenges existed before COVID-19 swept across the planet. But according to Jakobsen, since the onset of the pandemic, governments around the world have essentially recognised that “we have transitioned to an era of fiscal stimulus forever. This sits in diametric opposition to the ‘frugal 2010s’.”

Earlier in this century, and in the latter years of the 20th century, policymakers largely turned to monetary policy and the banking system to spur economies back into growth. But Jakobsen says the days of relying on credit creation and focusing simply on financial stability are a thing of the past.

Monetary heroin has nearly killed the real economy patient while making financial assets as high as a kite. After years of neglect, the real economy now needs a proper dose of steroids.

This means we are undergoing a violent switch in focus by policymakers away from financial stability and toward social stability.

While the issue of social stability – or instability, if you prefer – has been simmering in Australia as well, you need only look at the recent riots in the United States to see just how far down the track inequality has gotten in the world’s biggest economy.

Indeed, as Jakobsen points out, government actions in every recovery since the 1980s have enriched the wealthiest citizens while leaving the lower earners behind.

As government policies going forward will now attempt to see most of the stimulus reach the lower half of the economic pyramid, Jakobsen writes, “This has enormous consequences for society and for markets.”

He continues:

We can call it the Social Stability Paradigm: the model for saving democracy… Simply put, the new mantra is to print and spend as much money as possible while rates and inflation are low. It seems so easy at first, but we need to make sure to reflect on the consequences of this new policy, particularly the unintended ones, like galloping inflationary risks.

From Nixon to Volcker to… ?

I was a young boy when inflation ran rampant in the US (and in Australia) in the 1970s. But I well recall the fast-rising prices my parents faced for everything from cars and petrol to groceries and rent.

When US President Richard Nixon officially took the US dollar off the gold peg in 1971, it opened the inflationary door wide. As Jakobsen notes, global fiat money became “dominated by the US dollar, which was overvalued”.

Only when US Fed chair Paul Volcker ratcheted up official interest rates to 20% (yes, 20%!) did inflation finally subside in the early 1980s.

But Volcker could never get away with this today. Jakobsen says:

Today, there is no such central bank alive who is willing to do that, as it would instantly trigger an enormous reset of asset prices and the real economy, which can only survive at its current level on zero or near-zero rates.

So the market will have to do it for them instead. That’s our main message for investors: you are living in a different world now relative to anything you have known in your lifetime.

Over the past years, and most notably since central banks worldwide cut real interest rates to near or below zero, asset prices have rocketed.

But those days are coming to an end.

Asset inflation will no longer be the name of the game from here, simply because at present, everything that has a cash flow or even the distant promise of delivering one (think no revenue tech start-ups, etc.) is priced to infinite value because of a zero denominator.

As governments turn their stimulus cash flow towards lower income earners, Jakobsen says we can expect higher wage inflation and lower equity returns.

So which assets are likely to outperform?

According to Jakobsen, “Tangible assets will outperform non-tangible ones, and assets with positive convexity will win – those assets that benefit from rising yields and a global demand in resources…”

He says expects excess demand from governments into basic resources to continue, alongside rising supply constraints. That should offer some more tailwinds ahead for ASX resource shares.

As for the unintended consequences?

We are into the epilogue of this failed model of pretend and extend, and to make sure we go out with a bang the governments have fired up the engines of helicopter money while fooling themselves into thinking there won’t be any unintended consequences.

More reading

• Why an AGL Energy (ASX:AGL) demerger might be a problem
• 3 of the best ASX shares to buy in April
• The Mincor (ASX: MCR) share price slid today despite new mine
• Why Saxo’s global outlook favours ASX commodity shares
• ASX 200 dips, AGL to split in two, NAB’s neobank acquisition approved

Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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There certainly are a lot of options for investors to choose from on the Australian share market.

But three that could be among the best on offer right now are listed below. Here’s what you need to know about them:

Appen Ltd (ASX: APX)

The first ASX share to consider buying is Appen. It is one of the world’s leading developers of high-quality, human annotated datasets for machine learning and artificial intelligence (AI).

Appen has achieved this thanks to its growing team of contractors around the world that help to prepare the data for the models of tech giants such as Amazon and Facebook. The company also previously helped Apple develop its Siri virtual assistant  

While the pandemic has led to many major machine learning projects being placed on hold, reducing demand for its services, these projects look set to commence once the crisis passes. Particularly given the growing importance of AI for businesses and governments.

Late last month Ord Minnett upgraded its shares to a buy rating with a $24.75 price target.

Pushpay Holdings Group Ltd (ASX: PPH)

Another ASX share to consider buying is Pushpay. It provides churches and non-profits with an industry-leading platform that handles donations and engagement.

Pushpay has been growing at an explosive rate over the last few years and looks well-placed to continue this positive form. This is due to the quality of its offering, the digitisation of the church, and the shift to a cashless society.

Goldman Sachs is positive on the company. It currently has a conviction buy rating and $2.59 price target on its shares.

REA Group Limited (ASX: REA)

A final ASX share to look at is REA Group. It is the owner and operator of the realestate.com.au website, a number of complementary local businesses, such as Real Commercial and Flatmates, and several international property listing websites.

The company’s realestate.com.au business is the jewel in its crown and its biggest contributor to revenue. Positively, with housing market conditions improving greatly, this business looks well-placed for growth in the coming years. This is expected to underpin solid overall earnings growth for REA Group over the medium term.

One broker that expects this to be the case is Morgan Stanley. It is very positive on the company’s outlook and has put an overweight rating and $175.00 price target on its shares.

More reading

• Why AGL, Digital Wine, REA Group, & Xero shares are charging higher
• ASX 200 dips lower, Webjet drops, REA bids for Mortgage Choice
• Is the Clean TeQ (ASX:CLQ) share price really up 927% today?
• Why Immutep, Inghams, REA Group, & Synlait shares are sinking
• ASX 200 down 0.1%: Computershare raises $500m, REA Group announces acquisition

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 Appen Ltd and PUSHPAY FPO NZX. The Motley Fool Australia has recommended PUSHPAY FPO NZX and REA Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Mincor Resources NL (ASX: MCR) share price slipped lower today, despite the nickel miner announcing the opening of its Cassini Nickel Mine.

At the close of trade, the Mincor share price was down 1.54%, trading at 96 cents.

About Mincor’s newly opened mine

The Cassini Mine will form the bedrock of Mincor’s Kambalda nickel operations in Western Australia.

Mincor is clear about its aim: carving out a slice of the growing market for rare earth and transition metals due to the proliferation of electric vehicles (EVs) requiring the materials over the next decades to come.

Mincor – which also has large gold mining operations – aims to become a high-grade nickel sulphide producer and extract its first nickel concentrate in the first quarter of 2022.

It’s the result of two years of work for the West Australian miner. Mincor secured a processing and sales solution with BHP Group Ltd (ASX: BHP) in 2019, raising $95.6 million in equity capital and securing a $55 million project finance facility.

But despite the positive news today, Mincor’s share price has fallen 4% this week, on the back of a 12% decline this month and 13% this year to date. 

Mincor share price and nickel prices steadying

The Mincor share price falls are likely to be a recent correction, with the miner beating the basic materials sector overall by nearly 50% over the past 12 months.

The nickel price is also undergoing a correction of sorts, stabilising in recent months after rising nearly US$3,000 to a high of $18,978 USD/t by February this year, before falling to its current price of around $16,271 USD/t.

Mincor, like other miners focused on the EV revolution, is hoping that the surge in renewable energy technology will return the nickel price to its historical highs of 2007, where it peaked at nearly $50,000 USD/t.

Mincor mine represents ‘new chapter’ for Kambalda

Mincor managing director David Southam was proud that the mine could have a restorative effect on the region. He said:

This is a tremendous milestone for Mincor, for our employees, shareholders, suppliers, strategic partners and other key stakeholders, and for the Kambalda nickel district more broadly.

The official opening of the first new nickel sulphide mine in the region in over a decade is a proud moment, and one that signals the start of a new chapter for this world-renowned nickel district.

Mincor chair Brett Lambert added that the mine was welcome news to shareholders:

Today’s official opening ceremony marks a key milestone towards realising our vision to resume profitable and sustainable nickel sulphide mining in Kambalda, and to do so in an environmentally responsible and ethical manner that will see this great nickel province return to the forefront of Class-1 nickel production globally – playing a key role in the impending global energy transformation.

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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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