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The Core Lithium Ltd (ASX: CXO) share price was among the top performers of the S&P/ASX 200 Index (ASX: XJO) today.

The small-cap ASX lithium share closed the session up 3.09% to a neat $1 on Thursday.

This was despite the lithium miner reporting an almost tripled loss in its 1H FY23 report released today.

Then again, it’s unsurprising for a junior miner to report increased losses when it’s been ramping up investment and operations to commence production at scale.

And 1H FY23 was a milestone period for the company in this regard. Core Lithium has now transitioned from a mine explorer and developer to a mine operator and producer with its first sale during the period.

This makes Core Lithium one of the few ASX lithium companies actually producing lithium. Game-changer.

Let’s check out the half-year numbers.

Core Lithium share price up despite $9.2 million loss

The miner owns the Finniss Lithium Operation on the Cox Peninsula, 88km south-west of Darwin.

It produced and sold its first batch of lithium at the very end of 1H FY23. So, the income from that sale didn’t make it onto the books for the period.

However, in terms of income, rising interest rates throughout 2022 certainly helped the company out. Its ample cash reserves generated more than $1 million in interest in 1H FY23, up from just $150,000 in 1H FY22.

Here’s the key data:

• Loss of $9.2 million, up from $3.3 million in the prior corresponding period (pcp) of 1H FY22
• Cash and cash equivalents of $125 million, down from $157 million pcp
• Total net assets worth $327 million, up from $239 million pcp
• Earnings per share (EPS) loss of 0.52 cents per share, down from 0.22.

Investors appear unperturbed by the increased operational losses. After the report was released to the ASX at about 2pm today, the Core Lithium share price continued to rise until the market close.

What else happened in 1H FY23?

Among the highlights of the half was mining the first lithium ore from Grants Pit. The company also commissioned its dense media separation plant (DMS) to produce its first spodumene concentrate.

This facilitated Core Lithium’s first sale — a one-off direct shipping ore (DSO) to China. The shipment was trucked to Darwin Port in December 2022 and set sail for China in January this year.

Other highlights of 1H FY23 included:

• Upgrading the mineral resource estimate (MRE) for Finniss by 28% and the ore reserve estimate (ORE) by 43%. This extended the life of mine estimate to a minimum of 12 years
• Completed a $100 million capital raise to fund an extensive drilling campaign in 2023, pursue growth opportunities, and provide additional working capital
• Appointment of CEO Gareth Manderson and COO Mike Stone (CFO Doug Warden has also been appointed in 2023).

What did management say?

In the report, Core Lithium said:

The Company continues to receive strong inbound interest in lithium spodumene concentrate from Finniss and is well-positioned to capitalise on high demand for available battery grade lithium concentrate to complement existing binding offtake arrangements with Ganfeng Lithium and Yahua.

What’s next?

Core Lithium had $125 million in liquid capital at the end of the period, and now that it’s producing lithium, it can start generating revenue. So, the future looks pretty bright for this ASX lithium share.

On Monday, the company reported a more than doubling of the Finniss Lithium Project MRC following further drilling activities. This pushed the Core Lithium share price up by 11%.

The company said further significant growth opportunities exist beyond the currently modelled resource domains at Carlton, Ah Hoy, Hang Gong, and Sandras. Core Lithium will continue exploring this year and will update the global mineral resource and ore reserve estimate for Finniss shortly.

Brokers are divided on Core Lithium stock.

Macquarie retains an outperform rating with an improved 12-month price target of $1.50 following the MRC update.

This implies a potential 50% upside for investors who buy Core Lithium shares at today’s price.

Goldman Sachs is less enthusiastic, with a sell rating and a price target of 90 cents.

Core Lithium share price snapshot

Core Lithium has been one of the favourite ASX lithium shares among investors in recent years.

The stock started a pretty sustained run in early 2021, rising from about 14 cents to $1.50 by April 2022.

As is often the case with young and exciting ASX mineral explorer shares, investors bid up the price based on promise and expected future earnings. Arguably, it ran too hard, and in mid-2022, a correction began.

Enormous fluctuations in the Core Lithium share price have followed.

Over the past 12 months, the Core Lithium share price is up 3.3%.

Over the past six months, it’s down 37%.

In the year to date, it’s virtually steady — down by just 0.3%.

The post Core Lithium share price spikes despite almost tripled losses in 1H FY23 appeared first on The Motley Fool Australia.

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More reading

• Top brokers name 3 ASX shares to buy today
• Broker gives its verdict on the Core Lithium share price
• Here are the 3 most heavily traded ASX 200 shares on Monday
• Why Block, BrainChip, Core Lithium, and Life360 shares are racing higher
• Why is the Core Lithium share price soaring 11% today?

Motley Fool contributor Bronwyn Allen has positions in Core Lithium and Macquarie Group. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group. The Motley Fool Australia has positions in and has recommended Macquarie Group. 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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Coles Group Ltd (ASX: COL) stock could deliver attractive total returns through a combination of share price growth and dividends.

The supermarket business has done very well since the start of COVID-19, but with pandemic effects now disappearing, the company is still managing to achieve good financial growth.

Experts think that the good times could continue for Coles shares.

Margins are rising amid inflation

It would be understandable that inflation would lead to higher revenue and profit for the business.

If Coles made a 5% profit margin, then it’d make a $5 profit on $100 of sales. If the same basket of products were sold for $105, then a profit margin of 5% would result in a $5.25 profit.

But, Coles’ continuing operations sales grew 3.9% to $20.8 billion and the earnings before interest and tax (EBIT) grew 9.9% to $1.06 billion. Earnings per share (EPS) grew 11.6% to 46.3 cents. Clearly, margins have increased during this period.

The ABC reported on comments from Coles’ government and industry relations manager, Vittoria Bon, about the increased profit margins when talking to the Senate Committee who commented that the supermarket had cut produces on some products:

That’s why we’ve got the campaigns that we have, [such as] Dropped and Locked.

We’ve got 5,000 products at any point in time that represent value for our customers because they’re on special…and we have a whole range of products that customers can buy that are less than $1, for example canned tuna, canned vegetables.

We’re very conscious of the cost of living pressures faced by our customers, and that’s why we’re responding with those sorts of value campaigns.

The ABC also reported that Coles denied it was “profiteering from inflation”, saying that it was because of a fall in COVID costs.

However, Coles did report that its gross profit margin improved by 43 basis points (0.43%) to 26.5% over the period. The EBIT margin increased by 28 basis points to 5.3%.

The Betashares chief economist David Bassanese said:

We need to eat, and that doesn’t change all that much, and so we’re not that price sensitive.

We hate paying more for Vegemite and peanut butter, but ultimately we’re still going to buy it even at higher prices.

So what we’ve seen is businesses in those cases have been able to pass on the cost increase to prices, and sales in the main have been maintained.

Expert views on Coles stock and the dividend

As noted by my colleague James Mickleboro, Citi thinks Coles stock is a buy, with a price target of $20.20. That suggests that the Coles share price could rise by more than 10%.

The broker suggests that the FY23 first-half EBIT was better than expected and there is “upside” to the FY23 estimated consensus for EBIT.

Citi expects Coles to pay an annual dividend per share of 69 cents in FY23, which is a grossed-up dividend yield of 5.5%. The FY24 dividend per share could be 71 cents, which would be a grossed-up dividend yield of 5.7%.

The post Coles stock can deliver golden combo of share price growth plus dividends: Citi appeared first on The Motley Fool Australia.

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More reading

• How can I hope to retire rich when the share market is falling?
• Here’s how I’d invest $20,000 in ASX 200 shares for a supercharged second income
• Experts name 2 ASX 200 dividend shares for a passive income boost
• Top ASX dividend shares to buy in March 2023
• Why Brainchip, Coles, Karoon Energy, and Pilbara Minerals shares are tumbling

Citigroup is an advertising partner of The Ascent, a Motley Fool company. Motley Fool contributor Tristan Harrison 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 positions in and has recommended Coles Group. 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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2022 and 2023 have seen a strange shift in the investing world. For the decade before 2022, interest rates were at historically low levels. They were essentially zero over 2020 and 2021. That meant that investors could not get any kind of decent return on cash investments. Savings accounts, term deposits and the like offered next to no return. That meant ASX 300 dividend shares were one of the only real options if investors wished to receive a decent yield on their cash.

Well, that world has gone. Just this week, the Reserve Bank of Australia (RBA) raised interest rates for the tenth time in a row. The cash rate has gone from 0.1% at the end of 2021 to the 3.6% we see today – one of the sharpest rises in history.

As a consequence, many savings accounts and term deposits are now offering interest rates of up to 5% (and some even higher) today.

But that doesn’t mean we can’t get even better yields from some ASX 300 dividend dynamos.

So let’s check out three that are offering yields that can smash cash right now.

Smash cash with these ASX 300 dividend shares

First up is Accent Group Ltd (ASX: AX1). This ASX 300 retail share operates well-known footwear outlets such as Platypus Shoes and The Athlete’s Foot. Over the past 12 months, Accent shares have paid out a total of 16 cents per share in dividend payments – the highest 12-month total in its history.

Despite the Accent share price rising by almost 43% over the past year, the shares still offer a trailing dividend yield of 6.67% today. That grosses up to a whopping 9.53% with Accent’s full franking credits.

Another ASX 300 share offering a supersized dividend yield is Adairs Ltd (ASX: ADH). Unlike Accent, the Adairs share price has been suffering over the past 12 months, currently down by just over 17%. But despite this, this company paid out a historically high 18 cents per share in dividends over 2022.

That gives Adairs shares a dividend yield of 7.5% today. Again, Adairs’ dividends usually come fully franked, so this grosses up to a pleasing 10.71%.

An 11.3% yield from Harvey Norman?

Finally, let’s check out Harvey Norman Group Holdings Limited (ASX: HVN). Harvey Norman is a company needing little introduction, thanks to its prominent presence on the Australian retail scene for over four decades.

This is another ASX 300 share that has had a rough time over the past year, with Harvey Norman losing almost 29% of its value since March 2022. But that isn’t obvious when you look at this company’s dividend. 2022 saw Harvey Norman dole out its largest shareholder payments ever, with investors showered with a total of 37.5 cents per share, fully franked.

This gives Harvey Norman a dividend yield of 7.92% today, which grosses up to a massive 11.31% with that full franking.

So as you can see, there are plenty of ASX 300 shares out there that have the potential to still give investors massive yields on their capital today.

The post These 3 ASX 300 shares are dividend dynamos! appeared first on The Motley Fool Australia.

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More reading

• Gerry Harvey just bought $8 million worth of Harvey Norman shares. Should you buy?
• I’d aim for $1 million, thanks to just a few ASX shares
• Top brokers name 3 ASX shares to buy next week
• Give yourself a passive income boost with these ASX dividend shares: experts
• Invest in this 7%+ ASX 300 dividend stock for passive income

Motley Fool contributor Sebastian Bowen has positions in Adairs. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Adairs and Harvey Norman. The Motley Fool Australia has positions in and has recommended Adairs and Harvey Norman. 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 Scott Phillips.

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ASX exchange-traded funds (ETFs) offer a one-step process to diversify your stock holdings. 

Most ASX ETFs hold a sizeable basket of different shares. Or in some cases bonds or even cryptos.

ETFs have also gained in popularity among income investors seeking a simpler way to access dividends without having to research dozens of companies themselves.

While the majority of listed companies only pay out dividends once or twice per year, a few ASX ETFs make their distribution payments every month. A handy feature for income investors keen to access the dividends in a timely fashion.

This ASX ETF offers monthly dividend payments

Among the funds paying monthly distributions is Betashares Australian Dividend Harvester Fund (ASX: HVST).

HVST aims to offer investors mostly franked, passive income that beats the net income yield of the wider ASX.

The ETF provides instant diversity, holding 40 to 60 different shares. The portfolio is rebalanced every three months with the goal of providing the highest gross yield outcome.

Its top holdings by sector are in the financials sector (30%), the materials sector (25%) and the healthcare sector (10%).

As at 31 January, its two biggest shareholdings were BHP Group Ltd (ASX: BHP) at 13.2% and Commonwealth Bank of Australia (ASX: CBA) at 10%.

The ASX ETF’s 12-month distribution yield works out to 7.2%. The fund’s gross distribution yield over the 12 months was 10.1%, at an average franking level of 93%.  

HVST’s most recent monthly dividend of 7.1 cents per share will be paid out next Thursday, 16 March, with a 78% franking level.

Just as with any share trading on the ASX, the ETF’s returns will also be impacted by its share price when an investor opts to sell.

As you can see in the chart above, the HVST share price is up 4% in 2023 and down 3% over the past 12 months.

The post Guess which ASX ETF pays dividends every month? appeared first on The Motley Fool Australia.

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More reading

• Top ASX ETFs to buy in March 2023

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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Wesfarmers Ltd (ASX: WES) is one of the leading businesses for potential passive income in my opinion. But, is the right time to buy?

I think it’s important to recognise that there can be a difference between how good a business is and whether it’s a good time to buy its shares.

Over the past five years, BHP Group Ltd (ASX: BHP) has been one of the best and biggest dividend payers in the world. But, the BHP share price has been very volatile. There can be attractive times to invest in the company, and times when it’d be wise to stay on the sidelines.

While I don’t think Wesfarmers shares are as cyclical as BHP’s, I think it’s just as worthwhile to question their price.

Interestingly, the Wesfarmers share price is slightly up over the past 12 months, despite higher interest rates, though it is still down more than 20% since August 2021. The Wesfarmers share price has risen by more than 10% in 2023 to date.

Is now a good time to buy Wesfarmers shares for passive income?

I’d always like to buy my target investments at an even cheaper price. If I had a crystal ball, it’d be able to tell me whether the negativity surrounding higher interest rates is going to hurt Wesfarmers’ share price or the company’s profit in the next 12 months.

But we don’t know what’s going to happen next, so we can only judge whether the current investment is good or not.

According to Commsec, the Wesfarmers share price is valued at 23x FY23’s estimated earnings based on an earnings per share (EPS) prediction of $2.16. By FY25, EPS is expected to rise to $2.49.

The dividend is expected to come in at $1.87 per share in FY23, $1.94 per share in FY24, and $2.19 per share in FY25.

That looks like attractive passive dividend income growth in 2023 and beyond. The current projected grossed-up dividend yield for FY23 is 5.3%. That looks like a solid yield to me and comfortably more than what investors might be able to get from a term deposit.

I think it’s a quality business

I think that Bunnings, Kmart, and the Wesfarmers chemicals, energy and fertiliser (WesCEF) business are three of the best businesses in Australia. The fact that they continue to invest and grow is a very positive sign in my opinion. Ongoing population growth in Australia is a useful tailwind for Wesfarmers’ earnings. Strong commodity prices are helpful for WesCEF. I think the future looks bright for the company.

It’d have been more rewarding to buy Wesfarmers shares at a price of under $43 last year. However, I think Wesfarmers will be able to keep growing profit for years to come. But there could be a time that the Wesfarmers share price goes down to a more attractive level during 2023.

Wesfarmers share price snapshot

Over the past month, Wesfarmers shares have risen by 2%.

The post Is right now the time to buy Wesfarmers shares for passive income? appeared first on The Motley Fool Australia.

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More reading

• How can I hope to retire rich when the share market is falling?
• Experts name 2 ASX 200 dividend shares for a passive income boost
• I’d aim for $1 million, thanks to just a few ASX shares
• How I’d aim to replace an entire salary with passive income from ASX dividend shares
• ASX investors: How to earn $533 each month in passive income

Motley Fool contributor Tristan Harrison 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 positions in and has recommended Wesfarmers. 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 had a rather weird, yet overall positive, day of trading at this point on Thursday. 

After initially plunging soon after market open this morning, the ASX 200 has staged a recovery over the session, and is currently up by 0.2% at the time of writing, putting the Index at just over 7,320 points.

Let’s hope this optimism holds. But whilst we wait and see, let’s now take stock of the shares that are currently topping the ASX 200’s share trading volume charts right now, according to investing.com. 

The 3 most traded ASX 200 shares by volume this Thursday

Telstra Group Ltd (ASX: TLS)

First up this Thursday is the ASX 200 telco Telstra. So far this session, a decent 14.88 million Telstra shares have been phoned in for trading. We haven’t had any fresh news from Telstra for more than a week. So this volume is the probable consequence of the company’s share price movements today.

So far this session, Telstra has had a bumpy but positive movement. The telco’s shares are presently up a healthy 0.73% at $4.15 each but have bounced between $4.13 and $4.17 over the trading day. It’s probably this bouncing around which is eliciting the share volumes on display here.

South32 Ltd (ASX: S32)

Next up is the ASX 200 mining share South32, with a chunky 15.1 million shares having been exchanged on the share market at this point. This could be an after-effect of South32 going ex-dividend this morning.

As we dug into earlier, the resources giant has cut off eligibility for its upcoming dividend payment today, with the South32 share price falling by a notable 1.3% as a result. It could be this drop that is responsible for South32’s presence here today.

Pilbara Minerals Ltd (ASX: PLS)

Finally today, we have the ASX 200 lithium leader Pilbara Minerals. This Thursday has seen a sizeable 18.26 million Pilbara shares change hands as it currently stands. There haven’t been any developments out of this company itself this Thursday.

But that hasn’t held back investors from giving the Pilbara share price, alongside most other ASX lithium shares, a 4.02% boost so far to $4.26 a share. It’s this gain that has probably resulted in Pilbara’s position on the top of this list today.

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

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More reading

• How can I hope to retire rich when the share market is falling?
• Is the party well and truly over for ASX 200 coal shares?
• Here’s why the South32 share price is being hammered today
• Here’s how I’d invest $20,000 in ASX 200 shares for a supercharged second income
• 5 things to watch on the ASX 200 on Thursday

Motley Fool contributor Sebastian Bowen has positions in Telstra Group. 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 positions in and has recommended Telstra Group. 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 Gascoyne Resources Ltd (ASX: GCY) share price has returned from its suspension and crashed deep into the red.

At one stage today, the ASX gold miner’s shares were down as much as 49% to 9.9 cents.

The Gascoyne Resources share price has recovered a touch since then but remains down 43% at 11.2 cents.

Why is this ASX gold share crashing?

Investors have been selling down this ASX gold share on Thursday after it completed a highly dilutive capital raising.

According to the release, the company has raised gross proceeds of $17.8 million following the settlement of an institutional placement and accelerated institutional entitlement offer. These funds were raised at 10 cents per new share, which represents a 48.7% discount to its last close price.

The company will now look to raise a further $8.5 million from retail investors at the same price.

Why is it raising funds?

The company intends to use the proceeds of the capital raising to support its “exciting” Never Never gold deposit.

Gascoyne Resources’ Managing Director and CEO, Simon Lawson, commented:

The strong support for the equity raising reinforces the value of Gascoyne’s portfolio and validates the steps taken by management late last year to preserve shareholder value through placing the Dalgaranga gold mine on care and maintenance.

We believe we have a very exciting future as Gascoyne is fully funded through to mid-2024 and is able to spend considerable time and money on delineating and expanding the exciting high-grade Never Never gold deposit.

The ASX gold share also notes that Never Never is expected to be the cornerstone of a new, higher-grade mine plan with a restart decision at Dalgaranga targeted for the second half of 2024.

The post Guess which ASX gold share just crashed 49% appeared first on The Motley Fool Australia.

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More reading

• Tesla-induced sell-off of ASX rare earths shares like Lynas overblown: experts
• 7 ASX All Ordinaries shares smashing new 52-week highs today
• Why 29Metals, BHP, Helia, and Rio Tinto shares are dropping today
• Why Arafura, Myer, Volpara, and Xero shares are zooming higher
• How can I hope to retire rich when the share market is falling?

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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ASX rare earths shares including Lynas Rare Earths Ltd (ASX: LYC) shares and Arafura Rare Earths Ltd (ASX: ARU) shares have had a tough trot of late.

Since the start of the month, the Lynas share price has dipped by 9.2%. It hit a new 52-week low of $7.26 on Tuesday. Today, Lynas shares are trading for $7.45.

The Arafura Rare Earths share price is up 0.8% since 1 March but has endured a rough ride. The stock fell 8.3% over the first three days of trading in March before recovering to 60 cents per share today.

The cause of this drama for Lynas and Arafura and fellow ASX rare earths shares?

That’d be Tesla Inc (NASDAQ: TSLA).

On 1 March the global electric vehicle giant announced its next-generation EV motor won’t contain any rare earths. 

But analysts at Adamas Intelligence reckon ASX investors’ concerns over this news are ‘overblown’.

Let’s investigate.

How Tesla slapped down the Lynas share price

Adamas Intelligence is an independent research and advisory services company specialising in critical metals and minerals.

In commentary published on its website, Adamas says Tesla’s decision to do away with rare earths motor magnets means it will likely use a ferrite magnet. This will make the cars heavier and less efficient.

Traditional EVs use magnets created with a rare earths alloy of neodymium, iron, and boron (NdFeB).

Adamas points out that Tesla’s primary goal is to create cars with a high performance-efficiency balance. So the company’s decision to abandon NdFeB magnets is surprising.

Tesla justified the change by saying it anticipates problems with rare earths supply. It’s also worried about the environmental and health impacts of mining the minerals.

But as Adamas points out, China has been the world’s primary supplier of rare earths. New suppliers are now emerging whose operations are less environmentally damaging due to stricter regulation.

Adamas says:

Today, there are more supply options than just China/Myanmar and others on the cusp of starting production – options that are transparent, close to home (for Tesla in particular) and substantially less impactful on the environment than the China production of yesteryear.

Currently, Lynas is the only significant separated rare earths producer of scale outside China.

Implications of Tesla’s decision ‘expected to be minor’

Adamas says its own research indicates just 12% of global NdFeB magnet consumption in 2022 was for EV manufacture.

Of that 12%, Telsa makes up 15% to 20%. That makes its overall contribution to global NdFeB magnet demand (excluding micromotors, sensors and speakers) just 2% to 3%.

So, even if Tesla were to dump NdFeB motors across its entire fleet, “the global NdFeB market stands to lose a mere 2% to 3% of demand in the near-term, and maximum 3% to 4% over the long-term assuming Tesla maintains its EV market leadership”.

Adamas concludes the implications for the global NdFeB market are “expected to be minor”.

Market reaction ‘largely overblown’

Adamas says:

The media and market’s reaction to the news has been largely overblown, speaking to a broad misunderstanding of the NdFeB market’s supply and demand fundamentals.

Looking forward to 2035, Adamas forecasts that global demand for NdFeB magnets will triple while global production will only double, constrained by long lead times to bring online new rare earth oxide production.

In relation to the magnitude of the expected supply gap, a 3% to 4% drop in demand by 2035 would go virtually unnoticed.

Top broker Bell Potter also describes the sell-off in ASX rare earths shares as a ‘knee-jerk reaction‘.

The broker says the world will still need a materially increased supply of rare earths no matter what Tesla does.

The post Tesla-induced sell-off of ASX rare earths shares like Lynas overblown: experts appeared first on The Motley Fool Australia.

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More reading

• Why Arafura, Myer, Volpara, and Xero shares are zooming higher
• Are Arafura shares still a buy if Tesla ditches rare earths?
• Lynas share price rebounds on $200m Japanese Government investment
• Lynas Rare Earths has plunged 20% in a month: Is it a buy?
• Why did the Lynas share price just hit a 52-week low?

Motley Fool contributor Bronwyn Allen 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 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 Scott Phillips.

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It’s been a pretty positive day for ASX shares and the All Ordinaries Index (ASX: XAO) so far this Thursday. After a rocky start, the All Ords is tentatively in the green at the time of writing, having put on 0.12%, which lifts the Index to just over 7,500 points.

But some All Ordinaries shares are doing far better than that.

In fact, there are at least seven that have just hit new 52-week highs this session. Let’s check ’em out.

7 ASX All Ords shares at new 52-week highs this Thursday

First up we have Adriatic Metals plc (ASX: ADT). This mining exploration company has interests in a number of metals, including silver. This company is having a whale of a time today, presently up a pleasing 5.4% at $3.80 a share.

Earlier today, Adriatic Metals hit $3.81, which is both the company’s new 52-week high and all-time record high. The shares are up more than 22% year to date in 2023.

Next up there’s Data#3 Ltd (ASX: DTL) to consider. All Ords tech share Data3 is also having a corker. This company’s gain doesn’t look too dramatic, up 0.6% at $7.64. But $7.64 is Data3’s new 52-week and all-time high as well. This company has gained 15.6% over 2023 thus far.

A more well-known name in Myer Holdings Ltd (ASX: MYR) is another All Ords share on fire today. Myer is finally back over $1 a share for the first time since 2017, spiking 17.8% so far today to $1.12 a share.

The famous retailer reported earnings this morning, and investors have been delighted with a huge increase in profits and a special dividend. The company’s new 52-week high is now $1.14 a share, putting Myer up a whopping 68% year to date.

Then there’s Avita Medical Inc (ASX: AVH) to consider. All Ordinaries healthcare share Avita has also enjoyed a milder gain today, rising 1.64% up to $4.35 a share. But the company touched $.41 each this morning, which represents a new 52-week high for Avita.

This company has caught fire following its earnings last month. Avita is now up a massive 125% in 2023 so far.

What about Qantas, Eagers and Inghams?

Another familiar name in Qantas Airways Limited (ASX: QAN) is the next share worth checking out. This is another company that has seen investors flooding in after a successful earnings report in February, which included a $500 million share buyback program. ‘

The Qantas share price is bouncing around a bit today but hit a new 52-week high of $6.87 just after midday today. That puts it up almost 14% this year so far.

It’s a similar story with All Ords car dealership company Eagers Automotive Ltd (ASX: APE). Eagers shares have also been playing jump rope today. But this afternoon has seen the company notch up a new 52-week high of $14.78 a share.

Again, it seems we have Eagers’ latest earnings report to thank. Investors have been rediscovering their love for this company after last month’s record dividend announcement. Eagers is now up 36% year to date.

Finally, let’s check out All Ordinaries poultry share Inghams Group Ltd (ASX: ING). Inghams is yet another share that has been in both positive and negative territory this Thursday.

But when it was positive, it was positive. Inghams recorded a high of $3.30 a share soon after market open this morning – the new 52-week high.

Once more, it seems we have Inghams’ latest earnings to look at to explain this new high. Investors initially didn’t like what the company had to say last month. But the market seems to have reconsidered, with Inghams now up by more than 14% in 2023 to date.

The post 7 ASX All Ordinaries shares smashing new 52-week highs today appeared first on The Motley Fool Australia.

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More reading

• Why Arafura, Myer, Volpara, and Xero shares are zooming higher
• Qantas share price could surge to $10: JPMorgan
• Myer share price rockets 17% on doubled profits and special dividend
• Qantas share price flying higher despite new labour disruptions
• Qantas share price takes off to new multi-year high 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 positions in and has recommended Avita Medical. The Motley Fool Australia has recommended Avita Medical. 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) is fighting hard to stay in positive territory. In afternoon trade, the benchmark index is up 0.1% to 7,315.2 points.

Four ASX shares that have failed to follow the market higher today are listed below. Here’s why they are dropping:

29Metals Ltd (ASX: 29M)

The 29Metals share price is down almost 6% to $1.45. Investors have been selling this copper miner’s shares after it revealed that all production and non-essential activity has been suspended at Capricorn Copper following extremely heavy rainfall on 7 March. Management estimates that the suspension may continue for a period of up to three-to-four weeks.

BHP Group Ltd (ASX: BHP)

The BHP share price is down 2.5% to $46.51. This has been driven by the mining giant’s shares trading ex-dividend this morning for its latest dividend. The Big Australian is paying a fully franked interim dividend of 130.6 cents per share. Eligible shareholders can look forward to receiving this on 30 March.

Helia Group Ltd (ASX: HLI)

The Helia share price has crashed 15% to $2.90. Helia, which is the new name of Genworth Mortgage Insurance, is also trading ex-dividend on Thursday. Last month, it declared total fully franked dividends of 41 cents per share. This comprises a final dividend of 14 cents per share and a special dividend of 27 cents per share. These will be paid to shareholders on 24 March.

Rio Tinto Ltd (ASX: RIO)

The Rio Tinto share price is down 2.5% to $121.67. This is also due to the miner’s shares going ex-dividend on Thursday. Rio Tinto will be paying its 326.5 cents per share fully franked final dividend to eligible shareholders next month on 20 April.

The post Why 29Metals, BHP, Helia, and Rio Tinto shares are dropping today appeared first on The Motley Fool Australia.

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More reading

• How can I hope to retire rich when the share market is falling?
• Why is the Rio Tinto share price tumbling 4% on Thursday?
• Why is the BHP share price sinking today?
• 5 things to watch on the ASX 200 on Thursday
• Last chance to snag the next dividend from these 4 ASX 200 mining shares

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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