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Aston Minerals Ltd (ASX: ASO) shares are rocketing today, up 59% in midday trade. The Aston share price closed yesterday at 3.4 cents and opened this morning at 6.4 cents, leaping 85% higher before partially retracing.

We take a look at the ASX gold explorer’s latest drill results below.

What did the company report?

The Aston Minerals share price is surging after the company reported the diamond drilling program at its Edleston Project in Ontario, Canada had intersected visible gold.

This is Aston’s maiden drilling program at Edleston, and the visible gold was struck on its third drill hole from 362 metres. In total, Aston has so far drilled 1,320 metres across the three holes. The company said to date it has drill-tested roughly one kilometre of the total ten kilometres strike length at Edleston.

Commenting on the drill results, Aston Minerals managing director Dale Ginn said:

The early success of the program through hitting visible gold veinlets in the third hole, 200 metres along strike to the east of the main Edleston body of mineralisation, provides us with a high degree of confidence of both the scale of the mineralisation and the methodology of targeting.

The mineralisation was directly targeted based on the IP chargeability anomalies. The effective strike length tested by drilling consists of only 1km out of a 10km of strike within the project.

Ginn said the company would provide additional updates as new data from its drilling program comes in. New assay results are expected within the next few weeks.

Aston Minerals share price snapshot

With today’s intraday gains factored in, the Aston Minerals share price is up by more than 400% over the past 12 months. By comparison, the All Ordinaries Index (ASX: XAO) is up by around 17% for the full year.

So far in 2021, Aston Minerals shares have leapt by around 28%.

More reading

• The Hansen Technologies (ASX:HSN) share price is hitting a 52-week high
• Why Accent, Fortescue, Western Areas, & Zip shares are tumbling lower
• Got cash to invest? Here are 2 ASX shares to buy
• Could this be why the Zip (ASX:Z1P) share price lost all its gains today?
• Could the CSL (ASX:CSL) share price get back on track in 2021?

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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In afternoon trade the S&P/ASX 200 Index (ASX: XJO) has given back its morning gains and is on course to end its winning streak. At the time of writing, the benchmark index is down slightly to 6,768.3 points.

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

Accent Group Ltd (ASX: AX1)

The Accent share price is down 4% to $2.23. This decline is almost entirely attributable to the footwear focused retailer’s shares trading ex-dividend this morning. Eligible shareholders can now look forward to receiving Accent’s 8 cents per share fully franked dividend next week on 18 March.

Fortescue Metals Group Limited (ASX: FMG)

The Fortescue share price has fallen 6.5% to $20.74. Investors have been selling the mining giant’s shares today after a sharp pullback in the iron ore price overnight. According to CommSec, the spot iron ore price fell US$10.55 a tonne or 6.1% to US$163.60 a tonne. Traders were selling the steel-making ingredient after authorities in Tangshan, China imposed steel production restrictions to counter heavy air pollution.

Western Areas Ltd (ASX: WSA)

The Western Areas share price has plunged 10% to $2.11 following the completion of its institutional placement this morning. According to the release, the nickel producer has commitments to raise $75 million at an 8.1% discount of $2.15. It will now seek to raise a further $15 million via a share purchase plan. Proceeds will be used to complete the Odysseus development, advance organic growth projects at Forrestania and Cosmos, and continue exploration activities.

Zip Co Ltd (ASX: Z1P)

The Zip share price is missing out on the tech rebound and is down 2.5% to $8.57. The catalyst for this appears to have been a broker note out of UBS this morning. According to the note, the broker has downgraded Zip’s shares to a sell rating with a $6.40 price target. UBS has concerns about Zip’s significant execution risks and mounting capital requirements.

More reading

• Could this be why the Zip (ASX:Z1P) share price lost all its gains today?
• ASX 200 down 0.2%: Afterpay surges, gold miners jump, Fortescue sinks
• Is this a better way to buy into the ASX mining supercycle?
• Here’s why the Western Areas (ASX:WSA) share price is sinking today
• SciDev (ASX:SDV) share price on watch after winning tender process with Fortescue (ASX:FMG)

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 ZIPCOLTD FPO. The Motley Fool Australia has recommended Accent Group. 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 ASX share market continues to act with volatility, which could mean that some opportunities present themselves.

Not every business is going to be a good performer. But some companies are generating good levels of profit growth, which may be able to lead to good shareholder returns.

The below two businesses are ones that have been sold down recently, but are expecting more growth in the coming months:

Kogan.com Ltd (ASX: KGN)

Kogan.com is an e-commerce ASX share that sells a variety of products and services. It has white label offerings for things like mobile plans, health insurance, superannuation, credit cards and travel insurance.

The business also sells items like phones, TVs, fridges, office supplies, furniture, drones and gaming consoles.

Kogan.com reported continuing high levels of growth in its FY21 half-year result. Net profit after tax (NPAT) rose by 164.2% to $23.6 million, gross sales jumped 97.4% to $638.2 million, gross profit increased 126.2% to $112.9 million, adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) grew 184.4% to $51.7 million.

Exclusive brands saw revenue growth of 114.9% year on year, with gross profit growth of 174.9%, resulting in a contribution of 55.9% to overall gross profit. Kogan Marketplace also saw gross sales growth of 194.3%.

The ASX share explained that there is still a strong pipeline of new sellers ready to be onboarded. Kogan.com is aiming to continually improve its marketplace platform, which allows the business to achieve ongoing growth without a corresponding investment in inventory. It also gives customers more choice.

Kogan.com is also pleased with its Mighty Ape acquisition – a New Zealand-based e-commerce business. In December 2020, Mighty Ape had $20 million of revenue and $5.4 million of gross profit.

The company continues to see increasing profit margins, which speaks of the economies of scale of Kogan.com. The overall EBITDA margin improved by 1.8 percentage points to 9.4% for the first half of FY21.

Management are confident that it can do even more things to delight its customers. Growth has continued in January 2021, with gross sales rising by 45% year on year. Gross profit grew 102% year on year, with adjusted EBITDA going up 90%.

According to Commsec, the Kogan.com share price is trading at 19x FY23’s estimated earnings, at the current price of $13.36.

Bubs Australia Ltd (ASX: BUB)

The Bubs share price is close to a 6-month low despite the goat milk infant formula business recently telling the market about a rebound in demand in the second quarter of FY21.

The ASX share said in its FY21 half-year result release that it’s now the number one goat formula brand in Chemist Warehouse and number two in both Woolworths Group Ltd (ASX: WOW) and Coles Group Ltd (ASX: COL). Bubs organic infant formula is now the number two organic formula brand in the two biggest Australian grocery retailers and the country’s leading pharmacy.

Bubs also said that there was “strong” consumer offtake sales for Bubs goat formula on Alibaba Tmall Global, up 121% over the prior corresponding period.

China direct export gross revenue of Bubs goat infant formula increased by 36%. Export gross revenue outside of China increased 44% year on year. Management are expecting sales momentum to continue across south east Asian markets.

Whilst there was a significant disruption to the daigou channel over the last 12 months, Bubs saw quarter on quarter growth of 36% between the first quarter and second quarter of FY21.

Despite all of the COVID-19 disruption to the ASX share’s most profitable channel routes, Bubs’ goat formula product margin was consistent at 34%.

Bubs executive Chair Dennis Lin said:

We can say that we can expect to achieve modest half on half gross revenue growth in the second half of FY21. We are confident we are well placed with strong foundations, brand share growth and a robust balance sheet to go forward with a sustainable and profitable expansion strategy to emerge as lead challenger brand once the crisis subsides and market dynamics stabilise.

More reading

• Why did the Openpay (ASX:OPY) share price slide today?
• 3 fantastic ASX growth shares to buy in March
• International Women’s Day: Which ASX companies are fighting gender inequality?
• 5 things to watch on the ASX 200 on Monday
• ASX 200 sinks, Xero reveals acquisition, ARB driven higher

Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of BUBS AUST FPO and Kogan.com ltd. The Motley Fool Australia owns shares of COLESGROUP DEF SET and Woolworths Limited. The Motley Fool Australia has recommended BUBS AUST FPO and 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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Today was meant to herald a sigh of relief for the Zip Co Ltd (ASX: Z1P) share price after a sharp 12% decline this week.

The Nasdaq Composite (NASDAQ: .IXIC) finished 3.69% higher overnight and United States buy now pay later (BNPL) giant, Affirm Holdings Inc (NASDAQ: AFRM) also rebounded 7.20% higher. 

Despite the Zip share price opening as much as 6% higher today, its shares are now down nearly 3% at the time of writing. This compares to the Afterpay Ltd (ASX: APT) share price which is still trading around 7% higher. A sell rating released by UBS today could be to blame. 

UBS downgrades Zip share price from neutral to sell 

UBS noted that Zip’s growth had surpassed Afterpay in the first half and remained positive about the company’s short-term growth potential. 

Despite the positives, the broker was concerned about Zip’s significant execution risks and mounting capital requirements.

The broker could be pointing to the fact that Zip had only launched in the United Kingdom in December 2020, some two years behind rival Afterpay. It could also be highlighting differences such as Afterpay’s pending regulatory approval to launch into Spain, France and Italy, compared to Zip’s two minority investments in BNPL players in Eastern Europe and the United Arab Emirates. 

Zip currently finances its growth in customer receivables via its asset-backed securitisation program. The company is likely to require additional external funding to support receivables growth. 

UBS highlighted that higher bond rates could also affect the cost of funding and the company’s valuation. In Zip’s half-year results, the company noted that the weighted average interest rate on loans outstanding at 31 December 2020 was 3.9% compared to 3.7% at 30 June 2020. Benchmark US bond yields were sitting at the 0.90% levels in December 2020 compared to the 0.70% levels in June 2020.

PayPal to launch BNPL in Australia 

In other news that could be dragging on the Zip share price, PayPal (NASDAQ: PYPL) has announced it will be bringing its successful ‘Pay in 4’ BNPL product to Australia in the coming months. This comes after its launch in the US late last year. 

Some other ASX-listed BNPL shares have also given back gains today including Sezzle Inc (ASX: SZL), Openpay Group Ltd (ASX: OPY) and Laybuy Holdings Ltd (ASX: LBY). 

More reading

• PayPal BNPL product to take on Afterpay and Zip in Australia
• ASX 200 tech shares set to rebound as bond yields fall
• ASX 200 rises, Afterpay sinks, Vocus jumps
• ASX tech correction? 10 of the worst-hit shares
• IOUpay and Zip were among the most traded ASX shares last week

Kerry Sun has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of ZIPCOLTD FPO. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. recommends Sezzle Inc. The Motley Fool Australia has recommended Sezzle Inc. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The CSL Limited (ASX: CSL) share price has underperformed the market since the initial COVID-19 sell-off in March 2020. After such a prolonged period of underperformance, Citi thinks the CSL share price could get back on track. 

Strong earnings but plasma collections weigh on CSL share price 

CSL announced a strong half-year report for the six months ended 31 December with group revenue up 16.9% on the prior corresponding period to US$5,739 million. A strong uplift in margins drove its 45% surge in net profit after tax to US$1,810 million. 

At face value, the company’s results appear very strong and above CSL’s historic mid-teens growth. However, the company did acknowledge that the COVID-19 pandemic had tempered CSL Behring’s performance whilst boosting the performance of Seqirus. 

Plasma collections are an essential raw material used in the production of many of the company’s therapies. Plasma collection centres and manufacturing facilities are classified as an essential service and remained operational during the pandemic. Despite being open, the company noted in its half-year results that “our plasma collections have been adversely affected during the pandemic”. The company reported that collections volumes in December 2020 were ~80% of December 2019 volumes. 

The company has taken several initiatives to improve plasma collections. This includes enhanced targeted marketing initiatives to increase collections, roll out of COVID-19 vaccine to increase social mobility and targeting an additional 12 new centres to be opened in 1H21. 

Citi sees upside to the CSL share price

Citi believes that the current decline in plasma collections is likely to stabilise after the US’s COVID vaccine rollout. 

The US has also experienced a significant decline in new daily COVID cases. Its new daily cases surged from an average of 50,000 cases per day in October 2020 to a peak of more than 300,000 cases in January 2021. As of 8 March, the US reported 98,000 cases with a 7-day average of 64,700. 

Citi left its CSL share price target unchanged at $310 with the assumption that plasma donations are back to normal by July 2020. CSL noted that as plasma volumes recover, the cost per litre of plasma reduces, leading to better margins. 

More reading

• CSL (ASX:CSL) share price green on CEO’s Summit address
• IOUpay and Zip were among the most traded ASX shares last week
• How the CSL (ASX:CSL) share price weakness exposes its dividend strength
• ASX 200 Weekly Wrap: ASX finishes higher, despite tech selloff
• How to turn $20,000 into $300,000 in 10 years with ASX shares

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

The post Could the CSL (ASX:CSL) share price get back on track in 2021? appeared first on The Motley Fool Australia.

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At lunch on Wednesday the S&P/ASX 200 Index (ASX: XJO) is on course to end its winning run. The benchmark index is currently down 0.2% to 6,757.7 points.

Here’s what is happening on the market today:

Treasury Wine US deal

The Treasury Wine Estates Ltd (ASX: TWE) share price is pushing higher today after announcing a licensing agreement to progress its United States wine business. According to the release, Treasury Wine has entered into a long-term licensing agreement with The Wine Group. This will see its popular brands such as Beringer Main & Vine, Beringer Founders’ Estate, Coastal Estates, and the Meridian range sold in the region. The deal is in line with its plans to deliver a premium-focused business in the region.

Afterpay surges higher

The Afterpay Ltd (ASX: APT) share price is surging higher today following a rebound in the tech sector. The catalyst for this was a strong night of trade on the Nasdaq index after bond yields started to ease. Also giving the Afterpay share price a boost was news that it has completed its acquisition of Pagantis. This means that its European expansion can now begin. It isn’t just Afterpay rising strongly today. A number of other tech shares are rebounding and helping to drive the S&P/ASX All Technology Index (ASX: XTX) 3.3% higher at lunch.

Gold miners jump

It has been a great day for Australian gold miners on Wednesday. The likes of Ramelius Resources Limited (ASX: RMS) and Silver Lake Resources Limited (ASX: SLR) are storming materially higher after the price of the precious metal rebounded overnight. According to CNBC, the spot gold price rose 2.1% to US$1,717.25 an ounce after bond yields pulled back. At lunch, the S&P/ASX All Ordinaries Gold index is up a sizeable 4.4%.

Best and worst ASX 200 performers

The best performer on the ASX 200 on Wednesday has been the Ramelius share price with an impressive 11% gain. This follows the aforementioned rise in the gold price. The worst performer has been the Fortescue Metals Group Limited (ASX: FMG) share price with a 7% decline. This follows a 6% decline in the spot iron ore price overnight.

More reading

• Why I sold all my Afterpay (ASX:APT) shares: fundie
• Why the Treasury Wine (ASX:TWE) share price is jumping today
• Why Afterpay, Gold Road, Hansen, & Silver Lakes shares are charging higher
• Is this a better way to buy into the ASX mining supercycle?
• SciDev (ASX:SDV) share price on watch after winning tender process with Fortescue (ASX:FMG)

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 AFTERPAY T FPO. The Motley Fool Australia owns shares of and has recommended Treasury Wine Estates 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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Afterpay Ltd (ASX: APT) shareholders have had a rough time recently.

The stock is down 26% in the past month even after a 9% rally Wednesday morning taking it to $116.33.

And the same morning saw news of US fintech giant Paypal Holdings Inc (NASDAQ: PYPL) starting its own buy now, pay later (BNPL) service in Australia from June.

Investors had flocked to Afterpay shares in an almost cult-like way in the past couple of years. And they’ve enjoyed an excellent run — the Afterpay share price started 2019 at the $12 mark, then started last year around $30. Last month it peaked at $160.

But unfortunately, after a long bull run, it seems some are losing faith.

Monash Investors principal Simon Shields is one.

“We sold out completely of our Afterpay at $150 a share,” he said in a Livewire video last week.

“Essentially, at $150 we felt that we were getting paid for the next 7 or 8 years of execution by Afterpay. So why wait around and see if they do a good job doing it? We took our money, and we left.”

Why sell out of Afterpay shares?

One of the attractive characteristics of Afterpay, according to Shields, is that customers tend to use it more frequently the longer they have been with the service.

“So in the first year, the customer would use it 4 or 5 times. And that grows to 12 times in the third year. And now, when you go 4+ years out… you’re up to 29 times.”

But the fund manager pointed out that this number isn’t quite as hot as it seems.

“That sounds like a lot. When you bring that back to how many times a month that is, that’s less than 3 times a month. And we’re not talking about big amounts of money for each transaction.”

This usage pattern allowed Monash Investors to quantitatively calculate Afterpay’s future prospects.

“It’s actually easier to forecast the forward revenues on Afterpay than what it is for a normal company that’s having to go out every year and re-establish new customers.”

Shields said he would consider buying back in in the future.

“I’ve been a big bull on Afterpay. I think the business is a magnificent business,” he said.

“If [the Afterpay share price] comes back enough, then it’s upside might meet our hurdles again. And we may go back in.”

What does Paypal’s buy now, pay later look like?

While Paypal had not provided details to The Motley Fool at the time of writing, smh.com.au reports customers can access up to $1,500 through the BNPL service. 

Then they can pay it back in four instalments. There is no interest charged but a $10 fee for each missed payment, capped at $30 for transactions greater than $125 or $10 for purchases under that amount.

Afterpay understandably downplayed the challenge from Paypal when the service launched in the US last year.

More reading

• Why Afterpay, Gold Road, Hansen, & Silver Lakes shares are charging higher
• Here’s why the Afterpay (ASX:APT) share price is surging 9% higher today
• PayPal BNPL product to take on Afterpay and Zip in Australia
• ASX 200 tech shares set to rebound as bond yields fall
• 5 things to watch on the ASX 200 on Wednesday

Tony Yoo owns shares of AFTERPAY T FPO and PayPal Holdings. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends PayPal Holdings. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of AFTERPAY T FPO and recommends the following options: long January 2022 $75 calls on PayPal Holdings. The Motley Fool Australia has recommended PayPal Holdings. 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 Janison Education Group Ltd (ASX: JAN) share price has been a very strong performer on Wednesday.

In morning trade, the educational technology company’s shares are rocketing 20% to a record high of 71 cents.

When the Janison share price hit that level, it meant it had doubled in value over the last 12 months.

Why is the Janison share price at a record high?

The catalyst for today’s strong gain has been the release of an announcement this morning.

According to the release, Janison has been accredited by the Organisation for Economic Cooperation and Development (OECD) as sole provider in Australia of the PISA for Schools assessment. This is known as the gold standard in the measurement of student learning, underpinned by the PISA-based scales.

Management believes this further strengthens Janison’s market leader position within Australia for school assessments.

The release explains that the OECD has accredited Janison in Australia for the next two years.

Janison’s CEO, David Caspari, appeared to be delighted with the development.

He commented: “The board and management of Janison are extremely honoured to be partnering with the OECD in the roll-out of such an incredibly well-regarded assessment and benchmarking tool – the only test of its kind in the world.”

“For us, this is our mission – to be a global force for good by powering best-in-class educational assessments with passion and purpose. I congratulate the Janison team for working seamlessly with the OECD’s team to bring us to today when we are launching in yet another country – our home country of Australia,” added Mr Caspari.

What now?

Janison expects the roll out for PISA for Schools in Australia to begin in New South Wales. Positively, it has strong indications from a large number of government and independent schools wishing to participate in the program. Tests are expected to start in April this year.

After which, management anticipates further demand from schools and state jurisdictions across Australia once the broader sales and marketing program commences this week.

Market opportunity

Once rolled out, schools choosing to undertake the assessment each year will be charged $7,000 per annum.

Management notes that there are approximately 2,700 secondary and combined schools in Australia. From these, ~50% are existing Janison ICAS customers.

This means that the total addressable market size in Australia is approximately $19 million. Furthermore, if it can convert just its existing ICAS customers, it will generate approximately $10 million in revenue.

More reading

• Why the Treasury Wine (ASX:TWE) share price is jumping today
• Why Afterpay, Gold Road, Hansen, & Silver Lakes shares are charging higher
• Whats moving the Electro Optic (ASX:EOS) share price today?
• Why the Gold Road (ASX:GOR) share price is shooting 8% higher
• Is this a better way to buy into the ASX mining supercycle?

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 Janison Education Group Limited. 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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Treasury Wine Estates Ltd (ASX: TWE) shares are on the rise this morning after the company updated the market regarding a licensing agreement to progress its United States wine business. At the time of writing, the Treasury Wine share price is up 3.87% to $11.53.

Let’s take a look at what the Aussie wine producer reported.

What did Treasury Wine announce?

The Treasury Wine share price is on the move today on the back of the company’s latest positive announcement.

According to this morning’s release, Treasury Wine has entered into a long-term licensing agreement with The Wine Group. This will see popular brands such as Beringer Main & Vine, Beringer Founders’ Estate, Coastal Estates and the Meridian range sold in the Americas region.

In the six-month period ending 31 December 2020, these associated brands saw over 2.3 million cases sold. This contributed to Treasury Wine coffers with net sales revenue of $92 million and $13.5 million in gross profit.

Under the agreement, The Wine Group will obtain all remaining inventories within the portfolio on a gradual drawdown basis. In addition, future bulk wine supply contracts for these brands will be managed by The Wine Group.

Treasury Wine stated that the deal is in line with its plans to deliver a premium-focused business in the Americas. It expects to generate a one-off net cash inflow of around $300 million as part of its strategic plans.

Today’s announced deal is anticipated to bump up Treasury Wine’s bank balance with roughly $100 million in cash proceeds.

Management comments

Treasury Wine CEO Tim Ford commented on the partnership with The Wine Group, saying:

We are delighted to be entering into this long-term transaction with The Wine Group, which will be of mutual long-term benefit to our respective organisations. For TWE, this transaction is a significant milestone towards our plans to deliver the future state premium US wine business and we can now focus solely on continuing the growth of our premium brand portfolio to drive future performance in the Americas.

Treasury Wine share price review

The Treasury Wine share price has been on a rollercoaster ride over the past 12 months. Although the company’s shares are up nearly 15% over the period, investors would be accustomed to its volatile swings.

In August, Treasury shares peaked at $13.12, only to drop to a low of $7.87 in November on the back of Chinese wine tariffs. While this represents a decline of 40%, the Treasury Wine share price has gradually picked up most of these losses since then.

More reading

• ASX 200 rises, TWE jumps, Zip sinks
• Treasury Wine (ASX: TWE) share price shoots over 8% higher on takeover talks
• ASX 200 up 1.6%: Appen rebounds, ALS acquires Investiga, Woolworths upgraded
• 5 things to watch on the ASX 200 on Wednesday
• ASX shares on watch: Chinese investment in Australia has dropped 61%

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Treasury Wine Estates 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 late morning trade the S&P/ASX 200 Index (ASX: XJO) is pushing higher once again. At the time of writing, the benchmark index is up 0.25% to 6,787.6 points.

Four ASX shares that are climbing more than most today are listed below. Here’s why they are charging higher:

Afterpay Ltd (ASX: APT)

The Afterpay share price is up almost 9% to $116.50. Investors have been buying Afterpay and other tech shares this morning following a strong rebound on the tech-focused Nasdaq index overnight. In addition to this, this morning Afterpay revealed that it has now completed its acquisition of Pagantis. This means that its European expansion can now begin.

Gold Road Resources Ltd (ASX: GOR)

The Gold Road share price has jumped over 8% to $1.15 following the release of its full year results. The gold miner reported a net profit after tax of $80.8 million for FY 2020. This compares to a loss of $4.7 million a year earlier. This strong form allowed the company to declare its maiden dividend of 1.5 cents per share.

Hansen Technologies Limited (ASX: HSN)

The Hansen share price is shooting 14% higher to $4.78. This follows the release of a trading update after the market close on Tuesday. That update revealed that the billing technology company has been performing better than expected. So much so, management has upgraded its guidance for FY 2021. It now expects revenue of $316 million to $326 million in constant currency, with an underlying EBITDA margin of 37% to 39%. A large new contract win has led to the outperformance.

Silver Lake Resources Limited (ASX: SLR)

The Silver Lake share price has surged 10% higher to $1.65. The catalyst for this was a solid rise in the gold price overnight after bond yields started to soften. It isn’t just Silver Lake that is rising today. At the time of writing, the S&P/ASX All Ordinaries Gold index is up a sizeable 4.4%.

More reading

• Why the Gold Road (ASX:GOR) share price is shooting 8% higher
• Here’s why the Afterpay (ASX:APT) share price is surging 9% higher today
• PayPal BNPL product to take on Afterpay and Zip in Australia
• Why the Hansen (ASX:HSN) share price will be on watch today
• ASX 200 tech shares set to rebound as bond yields fall

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 AFTERPAY T FPO and Hansen Technologies. The Motley Fool Australia has recommended Hansen Technologies. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post Why Afterpay, Gold Road, Hansen, & Silver Lakes shares are charging higher appeared first on The Motley Fool Australia.

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