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While some sectors and companies might not be considered “fashionable”, ASX investors can’t let such prejudices cloud their judgement.

Because if you want your portfolio to grow, all that matters are the prospects for the businesses.

Even if the goods or services produced are “boring”, if they are essential to the lives of consumers then the associated ASX shares have to be at least considered.

That case is even more pertinent in 2023 as the Australian and global economy battle very dark clouds.

As an example, Marcus Today market analyst Matthew Lattin named two ASX shares this week that he would buy right now:

‘We anticipate organic growth’

It doesn’t get much more unfashionable than insurance. 

But the reality is that it’s a reliable sector in times of turbulence. 

Insurance is a service that still sees strong demand through tough economic times, and insurers earn superior returns on collected premiums when interest rates are high.

Lattin thus likes the look of QBE Insurance Group Ltd (ASX: QBE).

“QBE’s recent underwriting performance against a backdrop of heightened inflation, geopolitical tensions and elevated catastrophes demonstrates resilience,” Lattin told The Bull.

“We anticipate organic growth and increasing premiums moving forward.”

The numbers coming out of reporting season last month were positive.

“Gross written premiums of US$20.054 billion in fiscal year 2022 were up 13% on the prior corresponding period,” said Lattin.

“Statutory net profit after tax rose from US$750 million in fiscal year 2021 to US$770 million in fiscal year 2022.”

The QBE share price has risen 27% over the past 12 months, while paying out a dividend yield of 2.8%.

Signs of a massive turnaround 

It’s been tough going for TPG Telecom Ltd (ASX: TPG) shares.

The company listed on the ASX in July 2020 after a merger of TPG and Vodafone Australia. Unfortunately, the stock has lost a painful 42.6% from the closing price on its first day.

Telecommunications might be a service with evergreen demand, but it’s not easy competing as the number three player in a country with a fairly small population.

But the stock is showing signs of life in 2023, heading up 2.58% year to date.

“In our view, TPG has significant growth potential.”

Lattin thought the results from reporting season were “relatively strong”.

“Service revenue of $4.439 billion was up 1.5% on the prior corresponding period,” he said.

“Mobile subscribers grew by 300,000 in 2022. Average revenue per user for mobiles was up 1.9% to $32.40 a month, mostly reflecting higher international roaming levels.”

Earlier this month Morgans analyst Andrew Tang agreed with Lattin’s bullishness on TPG.

“This was the first time since merging that positive earnings momentum is obvious across the group.”

The post ‘Significant growth potential’: Expert names 2 unfashionable ASX 200 shares to buy appeared first on The Motley Fool Australia.

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More reading

• Boost your passive income with Westpac and this ASX 200 dividend share: experts
• ‘Turning point’: Fundie names 2 great-value ASX 200 shares to buy now
• 5 things to watch on the ASX 200 on Wednesday
• 4 ASX 200 shares trading ex-dividend on Wednesday
• ‘A rocky road ahead’: Expert names 2 ASX 200 shares to thrive in a tough 2023

Motley Fool contributor Tony Yoo has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Tpg Telecom. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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S&P/ASX 200 Index (ASX: XJO) gold shares have enjoyed some heady tailwinds amid the banking crisis gripping the United States and Europe.

Angst over potential bank failures has seen gold retain its shine as investors turn to the yellow metal for its classic haven status.

Any rise in the gold price is, as you’d expect, good news for the big Aussie gold miners.

And gold edged higher again on Tuesday, closing the day trading for US$1,984 per ounce, up from US$1,977 per ounce on Monday.

Despite that 0.4% increase, the Northern Star Resources Ltd (ASX: NST) share price closed the day down 1.52%.

However, rival ASX 200 gold share Newcrest Mining Ltd (ASX: NCM) finished up 0.62%, while the Evolution Mining Ltd (ASX: EVN) share price gained 2.1%.

Following Monday’s meteoric share price gains, these three ASX 200 gold shares are all well into the green over the past five trading days. Here’s how they’ve performed since this time last week (as at yesterday’s close):

• Northern Star shares are up 6.7%
• Newcrest Mining shares have gained 5.4%
• Evolution Mining shares are up 6.3%

But there could be more good news to come for ASX 200 gold shares.

More tailwinds ahead for ASX 200 gold shares?

Bullion traded at all-time highs of $2,075 per ounce in August 2020 during the early months of the global pandemic as investors sought a safe place to park their wealth. That record level offered ASX 200 gold shares some outsized profits at the time.

Gold briefly touched US$2,000 per ounce on Monday amid ongoing concerns over the Swiss government-backed deal for UBS to takeover Credit Suisse.

Some smaller US banks also remain vulnerable. That includes First Republic Bank (NYSE: FRC), which closed down 47% on Monday.

Now global central banks are stepping in to provide liquidity for their stressed banks. And analysts are now expecting fewer rate rises from those same core central banks.

This combination could well see gold set new all-time highs, according to Sprott Inc CEO Whitney George (courtesy of Bloomberg).

“I certainly think we’re on our way to new highs,” George said. He noted that following market downturns, “The minute liquidity is restored back into the global market, gold seems to always be the first thing to recover, and then often hits new highs.”

Even just edging into new record territory would mean a 5% increase from the current price of bullion, which would be welcome news for ASX 200 gold shares.

The post Why ASX 200 gold shares could see the yellow metal hit new record highs: expert appeared first on The Motley Fool Australia.

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More reading

• 5 things to watch on the ASX 200 on Wednesday
• Why A2 Milk, Accent, Northern Star, and Select Harvests shares are dropping
• ‘Increasing demand’: Expert picks 2 ASX 200 mining shares to buy (not BHP)
• 5 things to watch on the ASX 200 on Tuesday
• Here are the top 10 ASX 200 shares today

Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. 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 Scott Phillips.

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On Tuesday, the S&P/ASX 200 Index (ASX: XJO) returned to form and pushed higher. The benchmark index rose 0.8% to 6,955.4 points.

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

ASX 200 expected to rise

The Australian share market looks set to continue its recovery on Wednesday following a solid night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 60 points or 0.85% higher this morning. In late trade on Wall Street, the Dow Jones is up 1%, the S&P 500 is up 1.45% and the Nasdaq is 1.7% higher.

Oil prices climb

Energy producers Beach Energy Ltd (ASX: BPT) and Woodside Energy Group Ltd (ASX: WDS) could have a good session after oil prices climbed overnight. According to Bloomberg, the WTI crude oil price is up 2.75% to US$69.50 a barrel and the Brent crude oil price has risen 2% to US$75.27 a barrel. Oil prices rebounded after banking crisis fears eased.

New Hope shares are a buy

The team at Morgans has reiterated its bullish view on New Hope Corporation Limited (ASX: NHC) shares. In response to the coal miner’s half-year results, the broker has reiterated its buy rating with a $6.35 price target. It believes that “windfall returns of surplus capital (in time) are on offer for patient/ value investors.”

Gold price falls

Gold miners Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) could have a poor day after the gold price dropped overnight. According to CNBC, the spot gold price is down 2.1% to US$1,941.6 an ounce. Traders were selling gold ahead of the US Federal Reserve’s interest rate decision.

Goldman Sachs on ASX 200 banks

Analysts at Goldman Sachs remain confident in the health of the Australian banking sector and have reiterated their conviction buy rating and $27.74 price target on  Westpac Banking Corp (ASX: WBC) shares. Goldman highlights that Westpac and the rest of the big four banks have liquidity well above requirements.

The post 5 things to watch on the ASX 200 on Wednesday appeared first on The Motley Fool Australia.

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More reading

• Which ASX 200 big four bank share could be the safest to hold?
• Want high income right now? These are the ASX dividend shares I would buy
• Here are the top 10 ASX 200 shares today
• Guess which ASX 200 director has bought $50m worth of shares in a fortnight?
• Here are the 3 most heavily traded ASX 200 shares on Tuesday

Motley Fool contributor James Mickleboro has positions in Westpac Banking. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Westpac Banking. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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It certainly has been a tough month for ASX 200 banks.

The drama involving Silicon Valley Bank and Credit Suisse has shaken investor confidence and led to many investors selling their bank shares.

The good news is that every cloud has a silver lining, which on this occasion is the cheaper prices that investors can pick up bank stocks.

But given the uncertainty in the global banking sector, it’s possible that some investors may be wanting to buy only the safest of banks.

So, which big four ASX 200 bank share is the safest at the moment?

How safe are ASX 200 bank shares?

Firstly, it is worth noting that the Australian banking sector is among the most robust in the world. So, we’re going to be looking at arguably the safest of the safe when doing this.

Moving on, to get an idea of which big four bank might be the safest, we can look at metrics that banks provide.

The first is the Common Equity Tier 1 (CET1) ratio, which is essentially a measure of spare cash. It compares the core equity capital of a bank to its risk-weighted assets.

APRA notes that having adequate capital is critical to protect financial institutions’ depositors and policyholders. As such, regulators set requirements on minimum capital to ensure financial institutions can absorb unexpected losses in their business.

At present, the big four bank with the highest CET1 ratio is ANZ Group Holdings Ltd (ASX: ANZ), which last reported a ratio of 12.2%. However, it is currently in the process of acquiring the banking operations of Suncorp Group Ltd (ASX: SUN). When adjusting for that acquisition, its CET1 ratio drops to 11% on a pro forma basis.

So, Commonwealth Bank of Australia (ASX: CBA) and its CET1 ratio of 11.4% may be the true winner here.

The good news is that the other big four ASX 200 bank shares are not far behind. National Australia Bank Ltd (ASX: NAB) has a CET1 ratio of 11.3% and Westpac Banking Corp (ASX: WBC) has a CET1 ratio of 11.13%.

Importantly, all are comfortably ahead of APRA’s requirements.

Anything else?

Another couple of metrics of note are the net stable funding ratio (NSFR) and the liquidity coverage ratio (LCR). The International Bank of Settlements defines these liquidity ratios as the following:

The LCR is designed to ensure that banks hold a sufficient reserve of high-quality liquid assets (HQLA) to allow them to survive a period of significant liquidity stress lasting 30 calendar days. The NSFR is defined as the amount of available stable funding relative to the amount of required stable funding. This ratio should be equal to at least 100% on an ongoing basis.

Leading the way with these liquidity metrics is Westpac. The combination of its ratios edges out Commonwealth Bank by one percentage point.

At the last count, Westpac had an LCR of 122% and an NSFR of 139%. Whereas Commonwealth Bank has ratios of 131% and 129%, respectively.

Next in line was NAB with an LCR of 134% and an NSFR of 118%. In last place, but well above required liquidity levels is ANZ with an LCR of 125.7% and an NSFR of 119.1%.

The winner

All in all, based on the above, it would be hard to argue against CBA being the safest ASX 200 bank share.

Though, with its shares trading at a significant premium to the rest of the big four, investors may get more bang for their buck with Westpac. As covered here, Goldman Sachs believes its shares are very cheap at current levels.

The post Which ASX 200 big four bank share could be the safest to hold? appeared first on The Motley Fool Australia.

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More reading

• Want high income right now? These are the ASX dividend shares I would buy
• Boost your passive income with Westpac and this ASX 200 dividend share: experts
• ASX 200 bank shares shrug off global banking turmoil to leap higher
• Forget term deposits and buy these ASX 200 dividend shares: analysts
• Where I would go hunting for defensive ASX 200 shares with upside

Motley Fool contributor James Mickleboro has positions in Westpac Banking. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Westpac Banking. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The S&P/ASX 200 Materials Index (ASX: XMJ) is leaping 1.02% today, but this ASX gold share is rocketing far higher.

The Besra Gold Inc (ASX: BEZ) share price soared 150% this morning to 10 cents after emerging from a trading halt before pulling back some of the gains. Besra shares are now up 62.5%.

Let’s take a look at what is going on with this mining share.

What’s going on?

Besra is exploring the Bau Gold Project in the Bau Goldfield in Sarawak, East Malaysia.

Today, Besra advised it has secured a US$300 non-binding drawdown funding facility with major shareholder Quantum Metal Recovery Inc. Quantum is a major gold distributor in Malaysia.

Besra described this as “one of the largest deals of its kind signed by an ASX listed junior”.

The funding will completely fund production at the company’s Bau Gold project.

Commenting on the news, Besra chairman Jocelyn Bennett said:

This funding would completely alter Besra’s trajectory and provides a clear pathway to gold production at the Bau Project.

At a time when access to capital for emerging gold producers is difficult and typically highly dilutive, the Board is very pleased to have removed this impediment to Besra’s growth.

We now have a clear line of sight on commencing production at Bau, with our issued capital intact, as well as recourse to little, if any, debt and the restrictive covenants typically required by lenders.

Besra is planning to update its 2013 feasibility study and expedite plans for production in the 2023 calendar year.

Besra share price snapshot

Besra Gold shares have descended 8% in the last year. In the past month, the gold explorer’s share price has lifted nearly 48%.

This ASX gold share has a market capitalisation of about $23 million based on the current share price. 

The post Guess which ASX gold share is soaring 60% after securing US$300 million appeared first on The Motley Fool Australia.

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More reading

• Here are the 3 most heavily traded ASX 200 shares on Tuesday
• Boost your passive income with Westpac and this ASX 200 dividend share: experts
• ASX 200 bank shares shrug off global banking turmoil to leap higher
• 2 ASX 200 mining shares to buy with huge upside potential: analysts
• Why is this ASX mining share exploding 57% today?

Motley Fool contributor Monica O’Shea has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. 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 Scott Phillips.

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The S&P/ASX 200 Index (ASX: XJO) has staged an enthusiastic recovery so far this session, coming after the carnage we saw on the markets yesterday. At the time of writing, the ASX 200 has rebounded strongly,  currently up by a healthy 0.96% at just under 6,970 points. Let’s hope the momentum keeps up.

So let’s dig a little deeper into these pleasing gains by checking out the stocks that are at the top of the ASX 200’s share trading volume charts right now, according to investing.com. 

The 3 most traded ASX 200 shares by volume this Tuesday

Liontown Resources Ltd (ASX: LTR)

First up today is the ASX 200 lithium share Liontown Resources. So far this session, a decent 15.7 million Liontown shares have been bought and sold on the share market. There hasn’t been much in the way of market-sensitive news out of Liontown today – although the company did release an investor presentation this morning.

So it looks like this volume is the result of the volatile session this lithium share has experienced this Tuesday. Right now, Liontown shares have put on a pleasing 2.14% up to $1.53 a share. But this afternoon saw the company drop into red territory, getting as low as $1.46 a share.

Pilbara Minerals Ltd (ASX: PLS)

Next up we have another AX 200 lithium stock, Pilbara Minerals. This Tuesday has had a notable 20.49 million PIlbara shares traded on the markets thus far. With no news at all out of Pilbaarra today, it looks as though its share price movements are again to blame here.

Pilbara hasn’t had quite a bouncy day as Liontown. But this lithium miner has still ricocheted between $3.51 and $364 a share this session. It’s currently up by 2.01% at $3.55 a share. This bouncing around is probably what is behind Pilbara’s high volume figures.

Sayona Mining Ltd (ASX: SYA)

Third and finally today we have yet another ASX 200 lithium stock in Sayona Mining. A whopping 42.63 million Sayona shares have swapped hands as it currently stands. And again, it looks as though these elevated numbers come down to the movements of the Sayona share price itself.

Sayona is another stock that has seen significant volatility today, even going between a gain, a loss and another gain. Right now, the company is ahead by 0.98% at 21 cents a share. But Sayona was up more than 3% at one point today, and down by 1.5% at another. No wonder so many shares have been flying around here.

The post Here are the 3 most heavily traded ASX 200 shares on Tuesday appeared first on The Motley Fool Australia.

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More reading

• These ASX lithium shares are a buy despite explosive supply forecast: UBS
• 1 reason to avoid the stock market, and 3 great reasons to invest today
• Why is the Woodside share price on the move today?
• Buy Pilbara Minerals and this high yield ASX dividend share: analysts
• 5 things to watch on the ASX 200 on Tuesday

Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. 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 Scott Phillips.

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If you’re looking to boost your income with some ASX 200 dividend shares, then you may want to consider the ones listed below.

Both have been rated as buys and are expected to provide investors with attractive yields in the near term. Here’s what you need to know about them:

QBE Insurance Group Ltd (ASX: QBE)

The first ASX 200 dividend share to consider buying is QBE.

It is one of the world’s largest insurance companies offering a range of products to customers across the globe.

Morgans is very positive on the company and has named on its best ideas list again this month. The broker is attracted to its cheap valuation and positive outlook from rate increases and cost reductions. It said:

With strong rate increases still flowing through QBE’s insurance book, and further cost-out benefits to come, we expect QBE’s earnings profile to improve strongly over the next few years. The stock also has a robust balance sheet and remains relatively inexpensive overall trading on 9x FY23F PE.

In respect to dividends, the broker is expecting dividends per share of 83 cents in FY 2023 and 94 cents in FY 2024. Based on the latest QBE share price of $13.90, this will mean yields of 6% and 6.75%, respectively.

Morgans has an add rating and $16.96 price target on its shares.

Westpac Banking Corp (ASX: WBC)

Another ASX 200 dividend share to buy could be banking giant Westpac.

While the banks may not be getting much love right now, the recent weakness could have created a buying opportunity for investors.

Goldman Sachs appears to believe that is the case. It continues to rate Australia’s oldest bank highly and has it on its conviction list. This is due to its belief that the bank can generate strong returns for investors thanks to improving net interest margins and its bold cost cutting plans.

The broker is expecting this to lead to fully franked dividends per share of 147 cents in FY 2023 and 156 cents in FY 2024. Based on the current Westpac share price of $21.52, this will mean yields of 6.8% and 7.25%, respectively.

Goldman has a conviction buy rating and $27.74 price target on its shares.

The post Boost your passive income with Westpac and this ASX 200 dividend share: experts appeared first on The Motley Fool Australia.

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More reading

• ASX 200 bank shares shrug off global banking turmoil to leap higher
• Why I’d be happy to invest in these ASX 200 bank shares today
• How I’d aim to retire rich enough to live on passive income from my ASX dividend shares
• 2 ASX 200 bank shares to buy after the selloff: experts
• ASX 200 bank stocks lift after Credit Suisse share price soars 19%

Motley Fool contributor James Mickleboro has positions in Westpac Banking. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Westpac Banking. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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S&P/ASX 200 Index (ASX: XJO) bank shares are shrugging off liquidity concerns that have gripped the banking sectors in the United States and Europe in recent weeks.

Following the collapse of several US banks– including Silicon Valley Bank, formerly the 18th largest in the country – investors are taking heart that the US Fed is stepping in to provide a deep pool of liquidity support for the sector.

The Fed joins the European Central Bank, Bank of Japan, Swiss National Bank, Bank of England and the Bank of Canada in a coordinated action intended to calm financial markets.

This comes atop yesterday’s announcement that UBS will merge with embattled Credit Suisse in a deal backstopped by the Swiss government.

And judging by the performance of the big four bank stocks, these government-engineered efforts are having some success at soothing market jitters.

Here’s how the big four ASX 200 banks shares are tracking in afternoon trade today:

• Australia and New Zealand Banking Group Ltd (ASX: ANZ) shares are up 1.7%
• National Australia Bank Ltd (ASX: NAB) shares are up 1.1%
• Westpac Banking Corp (ASX: WBC) shares are up 2.3%
• Commonwealth Bank of Australia (ASX: CBA) shares are up 1.1%

ASX 200 bank shares aren’t the only stocks rallying today.

At the time of writing the benchmark index is up 1.2%, with the S&P/ASX 200 Financials Index (ASX: XFJ) rallying 1.6%.

Is the ASX 200 bank share party premature?

Today’s rally in ASX 200 bank shares largely mirrors action seen in US and European markets yesterday (overnight Aussie time).

But not every bank is joining in the rebound.

Shares in First Republic Bank (NYSE: FRC) closed down 47% overnight amid investor concerns the $30 billion rescue package delivered by larger US banks last week might not be enough to keep it viable.

Also of potential concern, opposition is growing to the Swiss government-engineered takeover of Credit Suisse.

With Switzerland’s central bank and government backstopping the deal UBS is acquiring Credit Suisse for approximately AU$4.8 billion, paid out to shareholders.

But in contravention of long-standing market rules, the bank’s Additional Tier 1 bondholders will receive nothing, which will see almost $26 billion worth of the debt notes become worthless.

Some bondholders are already considering litigation, and Swiss MPs may also review the deal, which was hastily hammered out over the course of the weekend.

Should the deal unravel, ASX 200 bank shares could join their global peers in a fresh round of sell-offs.

But for now, at least, investors are breathing a sigh of relief.

The post ASX 200 bank shares shrug off global banking turmoil to leap higher appeared first on The Motley Fool Australia.

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More reading

• Forget term deposits and buy these ASX 200 dividend shares: analysts
• Where I would go hunting for defensive ASX 200 shares with upside
• Why I’d be happy to invest in these ASX 200 bank shares today
• How I’d aim to retire rich enough to live on passive income from my ASX dividend shares
• 2 ASX 200 bank shares to buy after the selloff: experts

SVB Financial provides credit and banking services to The Motley Fool. Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended SVB Financial. The Motley Fool Australia has recommended SVB Financial and Westpac Banking. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Australian share market is home to some of the largest mining companies in the world.

In addition, there are countless smaller miners and explorers out there for investors to choose from.

But which ASX 200 mining shares would be great options right now? Listed below are two that analysts are tipping as buys. Here’s what they are saying about them:

Rio Tinto Ltd (ASX: RIO)

The first ASX 200 mining share to look at is Rio Tinto.

This behemoth has operations spanning a number of commodities and geographies. The company explains just where its produce ends up in this summary:

Aluminium for lightweight cars. Copper to help things work more efficiently – from renewables to the power in your home. Iron ore for the steel in our electricity infrastructure. Lithium for electric vehicles and battery storage. And many of the materials we provide are used to make the things in everyday life too: like borates that help crops grow and titanium for paint.

Goldman Sachs is a big fan of the company and has it on its conviction list. The broker currently has a buy rating and $140.40 price target on its shares. This compares nicely to the latest Rio Tinto share price of $115.01.

It is very positive on the company’s medium to long term outlook. It commented:

Over the medium to long run, we think the development of Rhodes Ridge has the potential to be significant for RIO’s Pilbara business as it could lift mine system capacity by >10% to >360Mtpa, utilise spare rail and port infrastructure, and help close the >US$10 FCF/t gap with BHP by US$6-8/t or by >50% by the end of the decade.

Whitehaven Coal Ltd (ASX: WHC)

Another ASX 200 mining share that has been named as a buy is Whitehaven Coal. It is one of Australia’s leading coal miners with operations and development projects in the Gunnedah basin.

Morgans is very bullish on the company and feels that recent share price weakness has created a buying opportunity for investors. It explained:

Ex M&A, WHC looks far too oversold on the recent NEWC correction (FY23F FCF yield +40%, P/NPV 0.69x). We expect the re-tightening of thermal coal pricing dynamics through April to be a key catalyst for WHC.

The broker currently has an add rating and $10.35 price target on its shares. This compares very favourably to the current Whitehaven Coal share price of $6.64. The broker is also expecting a 70 cents per share dividend in FY 2023 and an 80 cents per share dividend in FY 2024. This implies yields of 10.5% and 12%, respectively.

The post 2 ASX 200 mining shares to buy with huge upside potential: analysts appeared first on The Motley Fool Australia.

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• Buy these ASX dividend shares with 5%+ yields: analysts
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. 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 Scott Phillips.

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The S&P/ASX 200 (ASX: XJO) is climbing 0.94% in late afternoon trading, but this ASX mining share is soaring far higher.

The Galileo Mining Ltd (ASX: GAL) share price soared 57% from 54 cents to 85 cents today. However, the company’s share price has since retreated and is up 30% at the time of writing.

Let’s take a look at what is going on with this ASX mining share.

What’s going on?

Galileo shares are soaring today after the company discovered a “new sulphide zone” with a “72 metre drill hit”.

Drilling at the company’s Callisto palladium-nickel discovery within the Norseman project in Western Australia revealed a thick sulphide zone.

Assays from the drilling delivered results including:

• 72 metres at 1.16 g/t 3E (palladium 0.95 g/t, platinum 0.16 g/t and gold 0.05 g/t), 0.2% copper, and 0.24% nickel from 498 metres
• 39 metres at 1.46 g/t 3E (palladium 1.19 g/t, platinum 0.2 g/t and gold 0.06 g/t), 0.26% copper and 0.28% nickel from 503 metres.

The company is already working on more drilling and has $20 million of cash available to fund what lies ahead.

This means Galileo does not need to raise any short-term capital during the “current market volatility“.

Commenting on the results, Galileo managing director Brad Underwood said:

Today’s results are firm confirmation of our view that we have only just started to comprehend the full extent and potential of our Callisto discovery.

To intercept 72 metres of sulphides from our northernmost drill line targeting the centre of the host intrusion is an extraordinary result and a highly encouraging sign for the potential discovery of more mineralisation along strike to the north.

Galileo has five kilometres of prospective rocks to the north of Callisto, Underwood said.

Share price snapshot.

The Galileo Mining share price has returned a mammoth 245% to investors in the past year.

This ASX mining share has a market capitalisation of about $143 million based on the current share price.

The post Why is this ASX mining share exploding 57% today? appeared first on The Motley Fool Australia.

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More reading

• ASX 200 bank shares shrug off global banking turmoil to leap higher
• 2 ASX 200 mining shares to buy with huge upside potential: analysts
• 2 of the best defensive and safe ASX 200 shares to buy now: broker
• 3 high quality ETFs for ASX investors to buy after the market selloff
• Quit your side hustle! Here are 3 rules to build passive income on the ASX instead

Motley Fool contributor Monica O’Shea has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. 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 Scott Phillips.

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