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• Here’s why the Altech (ASX:ATC) share price is rocketing 11%
• Why brokers think the Qantas (ASX:QAN) share price could fly 17% higher
• Why Afterpay, Fortescue, GWA, & Jupiter Mines are dropping today
• Why the Jindalee (ASX:JRL) share price is up 11% today
• Vmoto (ASX:VMT) share price rockets 15% on ‘enormous opportunity’

Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. Kate O’Brien owns shares of Apple and Rio Tinto Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Alphabet (A shares), Alphabet (C shares), and Apple. The Motley Fool Australia has recommended Alphabet (A shares), Alphabet (C shares), and Apple. 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 Altech Chemicals Ltd (ASX: ATC) share price is flying higher today, up 10.9% at 6.1 cents at the time writing, having earlier posted gains of more than 16%.

We take a look at the tech share’s twin announcements to the ASX below.

Battery performance

First, Altech reports that it has completed its phase 1 testing of battery performance of “graphite particles coated with high purity alumina (HPA)”. The coating was done with Altech’s proprietary technology. The trial included 100 cycle battery tests.

The company said that the performance met its expectations, and it plans additional tests to demonstrate repeatability. The graphite particle coating has the potential to increase the capacity, chargeability and life of lithium-ion batteries.

Commenting on the initial results, Altech general manager operations Jingyuan Liu said:

We now have to optimise the testing conditions and conduct additional tests to demonstrate repeatability and consistency. The performance of the alumina coated graphite is meeting our expectations so far.

Silica alumina coating breakthrough

In Altech’s second announcement, the company reported a breakthrough in its silicon alumina coating development.

The company said it had successfully applied its “alumina nanolayer coating technology to the coating of silicon particles, typical of those used in anode applications within lithium-ion batteries”.

Altech noted silicon has 10 times more energy capacity than graphite and pointed to Tesla Inc‘s (NASDAQ: TSLA) recently announced intent to increase the amount of silicon in its batteries to improve battery life and energy density.

Addressing the breakthrough, Jingyuan Liu said:

We are very encouraged by the excellent coating results achieved from the application of our technology, it has the potential to significantly increase the use of silicon in lithium-ion battery anode and consequently the potential to increase battery energy density, overall performance and longevity.

The next step is to further optimise the coating process.

Altech share price snapshot

Over the past full year, the Altech share price is up 3%. That compares to a 38% gain on the All Ordinaries Index (ASX: XAO).

Year-to-date Altech shares have gained 55%.

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Bernd Struben 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 Tesla. 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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ASX travel shares took the spotlight last week after the federal government announced a $1.2 billion support package that includes 800,000 half-priced airline tickets. The Qantas Airways Limited (ASX: QAN) share price rose 4% last week on the back of the positive news.

Qantas shares have also attracted multiple broker upgrades as the airline is expected to emerge as a leaner business post-COVID. 

Brokers upgrade the Qantas share price to a Buy

Macquarie Group Ltd (ASX: MQG) is the latest broker to upgrade the Qantas share price. On Monday, the broker shared its views that Qantas will emerge from the pandemic as a structurally improved business with a focus on the more attractive domestic market and its loyalty business. 

Macquarie believes that the improvement in domestic travel, and Qantas’ leading loyalty program, will reduce the downside risks associated with international travel. The broker stated that a vaccine rollout combined with border policies and government stimulus could see domestic capacity push to above pre-COVID levels in the near term. 

The broker also expects vaccine rollouts in key international destinations to be largely completed by the end of 2021. However, the timing surrounding when international travel will recommence remains uncertain. 

Macquarie upgraded the Qantas share price from neutral to outperform with a $6.35 target price, which represents an upside of ~17% on today’s price. 

Citi and Ord Minnett also upgraded their targets for the Qantas share price last week. 

On 12 March, Citi upgraded the Qantas share price to a Buy with a $6.14 target price. The broker believes the government stimulus packages add greater certainty for borders. Citi’s comments did note, however, that a leisure-led recovery would deliver negligible upside for profitability.

On 10 March, Ord Minnet upgraded the Qantas share price target to $6.00 with a Buy rating. The broker believes Qantas will emerge from COVID with a significantly reduced cost base and an enhanced competitive position.  

ASX travel shares higher on Monday 

The S&P/ASX 200 Index (ASX: XJO) is trading slightly higher on Monday, up 0.06% at the time of writing. However, ASX travel shares are grinding comparably higher across the board. As well as Qantas, which is currently up 2.6% at the time of writing, these include: 

• Flight Centre Travel Group Ltd (ASX: FLT) up 0.86% 
• Webjet Limited (ASX: WEB) up 0.99% 
• Corporate Travel Management Ltd (ASX: CTD) up 2.66% 

More reading

• Top brokers name 3 ASX shares to buy next week
• The JobKeeper payment is ending. So what will happen next?
• Qantas (ASX:QAN) successfully trials COVID vaccine app in preparation of return to international travel
• Brokers name 3 ASX shares to buy right now
• What this broker thinks about ASX travel shares after government’s stimulus package

Motley Fool contributor Kerry Sun has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Corporate Travel Management Limited and Webjet Ltd. The Motley Fool Australia has recommended Flight Centre Travel 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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In afternoon trade the S&P/ASX 200 Index (ASX: XJO) is fighting hard to get into positive territory but has just fallen short. The benchmark index is currently down slightly to 6,763.1 points.

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

Afterpay Ltd (ASX: APT)

The Afterpay share price is down 4% to $109.00. Investors have been selling Afterpay and other tech shares on Monday after bond yields widened on Friday night. The US 10-year treasury bond hit a one-year high of 1.625%, leading to tech stocks on the Nasdaq index tumbling lower. The S&P/ASX All Technology Index (ASX: XTX) is down 1.25% at the time of writing.

Fortescue Metals Group Limited (ASX: FMG)

The Fortescue share price has fallen 4% to $20.43. Investors have been selling the iron ore producer’s shares on Monday following another pullback in the price of the steel-making ingredient on Friday night. According to CommSec, the benchmark iron ore price fell by US$5.35 a tonne or 3.1% to US$165.70 a tonne.

GWA Group Ltd (ASX: GWA)

The GWA share price has dropped 6% to $2.83. This follows news that the buildings products company’s shares will be kicked out of the ASX 200 index at the next rebalance. GWA is one of six companies that will be removed from the illustrious index on 22 March.

Jupiter Mines Ltd (ASX: JMS)

The Jupiter Mines share price has tumbled 7% to 30.7 cents. This morning the manganese mining company announced that the demerger and initial public offering of its Juno Minerals business will still go ahead, but on a delayed timetable. As a result, a general meeting of Jupiter shareholders will be held by the end of April to re-approve the capital reduction and demerger. The process is now expected to complete in May.

More reading

• ASX 200 down 0.1%: Afterpay sinks, Evolution announces acquisition
• Fortescue (ASX:FMG) shares tumble despite bringing forward carbon neutrality target
• Can ASX BNPL companies like Afterpay (ASX:APT) compete with Paypal?
• ASX 200 Weekly Wrap: Calm restored to the ASX 200
• Why Nuix, Hub24 shares are on watch

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

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Lithium miner Jindalee Resources Limited (ASX: JRL) shares are rocketing today, reaching a high of $1.82 in early trade.

After coming out of a trading halt, the company announced more lithium discoveries at one of its sites. The company’s shares had been placed in a voluntary suspension on Friday in anticipation of a $9 million capital raising endeavour. 

This follows the Jindalee share price being placed in a trading halt last Wednesday.

At the time of writing, shares in the mineral exploration company have retreated slightly to $1.70, up 11.4%.

What did Jindalee announce?

In today’s release, Jindalee gave an update on progress at its McDermitt lithium project in Nevada. The company advised that the site, which is 100% owned by Jindalee, has “significant zones of lithium mineralisation”.

In 2 of the 4 drill holes, Jindalee discovered mineral ores that were more than 55 metres thick. In one case, the ore was 70 metres thick. All ores discovered had in excess of 1000 parts per million (ppm) of lithium, well above the 100ppm minimum required for commercially viable ore. 

The miner said the ore was discovered in relatively shallow spots which bodes well as greater mineral abundance can be found deeper in the earth’s crust.

The company expects to drill another 6 holes at the site soon. It initially planned to drill the holes last year but the coronavirus pandemic delayed operations.

Jindalee will hire an independent consultant to give a higher mineral resource estimate than provided previously.

In addition, the company will use the planned $9 million in capital to fund an expansion of its McDermitt lithium mine as well as gold and nickel mines in Western Australia. Jindalee will issue 6 million new shares at a price of $1.50 each.

Lithium is fast becoming a valuable commodity

Demand for lithium is booming as the world moves away from fossil fuels and towards renewable energy and battery storage. For example, last year total car sales decreased by 43% but electric car sales increased by 20%. A key element in electric vehicle battery manufacturing is lithium.

The third element’s price in the commodity market also rocketed 20.6% in one day to reach US$85,000 a tonne. Over 12 months, its price has gone up by 82.8%.

Jindalee share price snapshot

This time last year, shares in Jindalee were trading at 31.5 cents each. Since then, the share price has accelerated 354.6% to sit at its current price. Many lithium miners share prices are on a similar trajectory.

Jindalee Resources has a market capitalisation of $79.3 million.

More reading

• Vmoto (ASX:VMT) share price rockets 15% on ‘enormous opportunity’
• Do brokers rate the BHP (ASX:BHP) share price as a buy?
• Bitcoin (CRYPTO:BTC) hits another record high. What’s going on?
• The QEM (ASX:QEM) share price has rocketed 119% today. Here’s why
• ASX 200 down 0.1%: Afterpay sinks, Evolution announces acquisition

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

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Vmoto Ltd (ASX: VMT) shares are rocketing in early-afternoon trade following the company’s announcement it has signed a strategic memorandum of understanding (MoU). At the time of writing, the Vmoto share price has risen to 47 cents, up an astonishing 14.63%.

Let’s take a look at what’s driving the electric-powered scooter manufacturer’s shares higher.

What did Vmoto announce?

The Vmoto share price is racing higher as investors weigh the potential market opportunity from the company’s latest update.

According to its release, Vmoto has entered an MoU with one of India’s largest travel technology companies, the Bird Group.

The MoU will see Vmoto work towards granting Bird Group an exclusive distribution agreement in India. This will involve the export of Vmoto’s two-wheel electric vehicle products, the CUX, and its newest line-up, the CUmini model.

Bird Group will purchase 20 units of the CUmini model to take part in a trial. In further news boosting the Vmoto share price, this will see Bird Group set up in pole position to bid for a government-led ride-sharing project in New Delhi, India.

Should all go to plan, Bird Group will purchase a minimum amount of 10,000 units within the first year. This would generate revenue for Vmoto of around $13.8 million for the initial order alone.

The electric vehicle market for India is expected to significantly increase over the next several years, with consumers opting for clean and sustainable mobility. In a research piece from arizton.com, the Indian two-wheel vehicle market size is forecast to reach US$750 million by 2025. Over a 9-year period from 2011 to 2020, statistics showed that internal combustion engine (ICE) two-wheeler sales in India hit 162.2 million units.

The Indian Government is known to strongly support consumers adopting the use of electric vehicles as opposed to ICE two-wheelers. Considered a more environmentally friendly alternative, current policies enacted have aimed to accelerate the transition to their use. These include subsidies, stringent emission regulations and the proposed banning of ICE two-wheel vehicles.

What did the managing director say?

Vmoto’s managing director Mr Charles Chen commented:

We identified Bird Group as an ideal partner for Vmoto within the Indian market, due to the size and scale of its reach and operations.

We have been in discussions with Bird Group for quite some time and are confident this MOU represents the first step in establishing a long-term successful business relationship. India is a market we have been researching heavily over the last 12 months and we believe our expansion into this market will be a tremendous success, with the potential to deliver exceptional growth over the coming years.

About the Vmoto share price

The Vmoto share price has gained more than 190% over the last 12-months. Year to date, the company’s shares have lifted by around 9%.

Based on the current share price, Vmoto commands a market capitalisation of around $114 million.

More reading

• Vmoto (ASX:VMT) share price slips despite positive update

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

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What do brokers think of the BHP Group Ltd (ASX: BHP) share price? Could the big Australian resource giant be a buy right now?

Was the recent report strong?

BHP’s underlying numbers included double digit growth for many statistics.

Underlying earnings before interest, tax, depreciation and amortisation (EBITDA) rose by 21% to US$14.7 billion and underlying attributable profit went up 16% to US$6 billion.

Profit from operations grew by 17% to US$9.75 billion and net operating cash flow increased by 26% to US$9.37 billion.

However, attributable profit fell 20% to US$3.9 billion. This included an exceptional, one-off loss of US$2.2 billion predominately relating to the impairments of New South Wales Energy Coal (NSWEC) and associated deferred tax assets, as well as Cerrejon.

Free cash flow of US$5.2 billion reflected higher iron ore and copper prices, along with strong operational performance. This cashflow helped net debt improve by 7% to US$11.8 billion.

The interim dividend was increased by 55% to US$1.01.

BHP CEO Mike Henry provided some commentary about this result, he said:

We further grew value in the business during the half through achieving first production at the Spence Growth Option and through the acquisition of an additional interest in Shenzi. Our other major projects in iron ore, petroleum and potash are progressing to schedule.

Creating and securing more options in future facing commodities remains a priority. In nickel and copper, we have established further partnerships, acquired new tenements and progressed exploration.

What has the BHP share price done recently?

BHP shares have risen alongside the strength of the commodity market, particularly iron ore, over the last year. 

Over the last six months the BHP share price has gone up by around 27%. However, it has actually dropped by 7% since 3 March 2021.

What do brokers think of the BHP share price?

Brokers are a bit mixed about the big resources company. For example, Morgans has a share price target of $42.20 for the company, whereas Macquarie Group Ltd (ASX: MQG) has a price target of $55.

Macquarie thinks that BHP’s exposure to copper – which is a beneficiary of green initiatives and renewable energy – will help earnings in the medium-term.

Using Morgans’ numbers, the BHP share price is trading at around 12x FY21’s estimated earnings.

Outlook

Mr Henry spoke of the company’s outlook:

Our outlook for global economic growth and commodity demand remains positive, with policymakers in key economies signalling a durable commitment to growth and signalling ambitions to tackle climate change. These factors, combined with population growth and rising living standards, are expected to drive continuing growth in demand for energy, metals and fertilisers.

Our leadership team is in place and accelerating our agenda to be a safer, lower cost and more productive. We are well positioned, with a portfolio essential products that will support a cleaner and more prosperous world while generating sustainable returns for our shareholders and value for our communities.

BHP also said that the rollout of vaccines in key economies removes a material amount of downside risk to the short-term demand and price outlook for its portfolio of commodities.

More reading

• Can ASX BNPL companies like Afterpay (ASX:APT) compete with Paypal?
• ASX 200 Weekly Wrap: Calm restored to the ASX 200
• Leading brokers name 3 ASX dividend shares to buy
• 3 blue chip ASX shares with dividend yields over 5% today
• Is it ok to buy ASX 200 shares at a 52-week high?

Motley Fool contributor Tristan Harrison 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 price of Bitcoin (CRYPTO: BTC) is yet again on everyone’s lips. The largest cryptocurrency by market capitalisation hit a new record high of more than US$61,600 in the early hours of this morning (our time).

That means Bitcoin is now up almost by 28% over the past month and more than 1,000% over the past year.

There’s no need to state that Bitcoin is now by far the best performing ‘mainstream’ asset class over the periods. It has eclipsed everything from ASX shares to US shares to gold, bonds and property.

So what’s going on here? Why are investors still being drawn into Bitcoin? Is it just FOMO all over again?

A report from The Australian Financial Review (AFR) this morning offers an interesting insight. The AFR argues that the mammoth US$1.9 trillion stimulus package that was recently signed into law over in the United States could be having an impact. The report points out that Americans started receiving their US$1,400 stimulus cheques over the weekend after the bill cleared US President Joe Biden’s desk last week.

That has walked hand-in-hand with US government bond yields rising to their highest levels since the middle of the coronavirus pandemic last year.

Rising bond yields indicate that the markets are worried about inflation, since higher yields imply future interest rate hikes. This could be the key here. Bitcoin is viewed by many investors as having inflation-resistant characteristics. That’s due to the finite number of coins that can be mined.

Should you invest in Bitcoin?

That depends on your outlook for the future of Bitcoin of course. As we reported last month, many fund managers are now treating Bitcoin as a legitimate asset class in the same vein as shares or bonds. We have also seen companies like Tesla Inc (NASDAQ: TSLA) and Square Inc (NYSE: SQ) begin to actually hold Bitcoins on their balance sheets alongside cash.

If the extreme volatility that Bitcoin displays spooks you though (very understandable), there is nothing wrong with giving Bitcoin a pass and sticking to ASX shares. A ‘third way’ to consider adding exposure is by dedicating a small, fixed portion of your portfolio to Bitcoin (and/or other cryptocurrencies), then ‘rebalancing’ when this allocation is surpassed or undershot.

For example, you could decide that you want 2% of your portfolio’s value to be held in Bitcoin. If Bitcoin continues to rise and this 2% grows into 3%, you could sell some off in order to return to your 2% target. If it dips to 1% you could conversely top it up.

There’s no right answer here. But one thing seems certain. Bitcoin doesn’t seem to be going anywhere anytime soon.

More reading

• Tesla shareholder sues Elon Musk over losses
• ASX 200 Weekly Wrap: Calm restored to the ASX 200
• The FOMO fund: Yes, it’s a real thing and it could be dangerous
• Why the Bitcoin price is rocketing towards new record highs again
• Why ASX 200 copper shares are eyeing ultracheap Chinese EVs

Sebastian Bowen owns shares of Bitcoin and Tesla. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Bitcoin, Square, and Tesla. 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 QEM Ltd (ASX: QEM) share price shot up by a mammoth 95% to 15 cents on opening today after the company announced its plans to pursue hydrogen energy.

The exploration and development company advised today it has begun studies into ‘green’ hydrogen opportunities at its Julia Creek Project in North Queensland.

The QEM share price is up 119%, trading at 18 cents at the time of writing after hitting an intraday high of 19.5 cents.

What did QEM announce?

QEM announced it was looking into the financial and regulatory requirements of producing ‘green’ hydrogen at Julia Creek using a solar-powered electrolyser.

Hydrogen is considered green if renewable energy is used to generate the electricity needed for its production.

The company believes that the hydrogen from its Julia Creek project could be used for the hydrogenation of its raw oil, creating more sustainable transport fuels. Further, the project’s location is ideal for the company to provide hydrogen power to other resource projects in Queensland’s north-west.

QEM also noted trucks and trains travelling through Queensland often needed to refuel in Julia Creek. As hydrogen-powered vehicle technology becomes more common, the project may serve as a vital component of Queensland’s transport industry.

Currently, the Julia Creek Project is one of the world’s largest single oil shale and vanadium deposits. 

QEM is set to begin an approval process with the Queensland Government to provide water to the potential development.

Commentary from management

QEM managing director Gavin Loyden said the project’s location and resource profile was “optimal” for producing hydrogen on-site.

Crucially, the hydrogen strategy aligns with the broader strategic direction of Julia Creek, as QEM looks to target both the liquid fuels and renewable energy sectors.

We remain committed to continuing the development of Julia Creek to unlock the substantial latent value the vanadium and oil shale project possesses. 

QEM share price snapshot

The QEM share price opened at 15 cents this morning, up 95% from Friday’s close of 0.08 cents.

QEM has a market capitalisation of approximately $8 million with 100 million shares outstanding.

More reading

• Bitcoin (CRYPTO:BTC) hits another record high. What’s going on?
• ASX 200 down 0.1%: Afterpay sinks, Evolution announces acquisition
• EY praises economy as JobSeeker and JobKeeper supplements wrap up
• Why ASX hemp share Elixinol’s (ASX:EXL) share price is moving higher
• Why Codan, Evolution, Opthea, & People Infrastructure shares are charging higher

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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At lunch on Monday the S&P/ASX 200 Index (ASX: XJO) is on course to start the week with a small decline. The benchmark index is currently down 0.1% to 6,759.8 points.

Here’s what is happening on the market today:

Tech shares drag on the ASX 200

The tech sector is acting as a drag on the ASX 200 again on Monday. At lunch the S&P/ASX All Technology Index (ASX: XTX) is down just over 1% following declines by the likes of Afterpay Ltd (ASX: APT) and Altium Limited (ASX: ALU). Investors have been selling tech shares after a jump in bond yields on Friday night led to the tech-focused Nasdaq index tumbling lower.

Fortescue brings forward carbon neutrality plans

The Fortescue Metals Group Limited (ASX: FMG) share price is sinking lower today after weakness in iron ore prices offset news that it plans to become carbon neutral sooner than expected. According to the release, the iron ore producer is aiming to be carbon neutral by 2030. This is 10 years earlier than first expected. The iron ore price lost 5% of its value last week amid steel production curbs in China.

Evolution acquisition

The Evolution Mining Ltd (ASX: EVN) share price is pushing higher today after investors responded positively to a new acquisition. According to the release, the gold miner has signed a definitive agreement to acquire Canada-based Battle North. Evolution has agreed to pay C$2.65 per share in cash, which equates to a total consideration of approximately C$343 million. Battle North is the owner of the Bateman Gold Project in Ontario, which neighbours some of Evolution’s tenements in the region.

Best and worst ASX 200 performers

The best performer on the ASX 200 on Monday has been the Fisher & Paykel Healthcare Corp Ltd (ASX: FPH) share price with a 4% gain. This is despite there being no news out of the medical device company. The worst performer has been the GWA Group Ltd (ASX: GWA) share price with a 5% decline. The building products company’s shares are being dumped out of the ASX 200 at the next rebalance.

More reading

• Why Codan, Evolution, Opthea, & People Infrastructure shares are charging higher
• Fortescue (ASX:FMG) shares tumble despite bringing forward carbon neutrality target
• The Altium (ASX:ALU) share price is nearing its 52-week low
• Evolution (ASX:EVN) share price on watch following acquisition
• Can ASX BNPL companies like Afterpay (ASX:APT) compete with Paypal?

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 Altium. The Motley Fool Australia owns shares of AFTERPAY T FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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