Tag: Motley Fool

The AGL Energy Limited (ASX: AGL) share price was a poor performer in February.

Over the period, the energy company’s shares sank almost 10%.

What happened to the AGL share price?

Investors were quick to hit the sell button last month after AGL released its half-year results.

For the six months ended 31 December, AGL reported underlying net profit after tax of $87 million, which was a 55% decline on the prior corresponding period.

On a statutory basis, things were even worse. AGL reported a statutory loss after tax of $1.1 billion. This figure includes $706 million of impairment charges from the company’s accelerated decarbonisation plans.

This poor half unsurprisingly led to AGL slashing its dividend by half to just 8 cents per share.

What’s next?

One leading broker isn’t confident that the AGL share price will rebound in March.

According to a note out of Morgans, its analysts believe investors should wait for a better entry point. In response to its results, the broker said:

Underlying net profit was down 55% on pcp, 60% on our forecast and 45% on Visible Alpha consensus. The key driver was a net $123m impact on the wholesale trading business from the tight winter conditions earlier in the half. This also drove a big miss on DPS with an interim dividend of only 8cps.

We anticipate increasing dividends as earnings begin to recover in the next 12 months however we think the market will want to see clear evidence of this before it regains confidence in the company and the sector.

Morgans has a hold rating and $6.89 price target on its shares. This compares to the latest AGL share price of $6.85.

The post The AGL share price sank 10% in February. What’s next? appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Don’t be deceived by ASX dividends
• 6 ASX 200 directors buying up their company shares in the past week
• 6 asset-rich ASX 200 shares to buy for their takeover potential: expert
• Here’s why the AGL share price is dipping on Wednesday
• Hoping to bag the next AGL dividend? You’d better be quick

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.

from The Motley Fool Australia https://ift.tt/MHIfday

The All Ordinaries Index (ASX: XAO) is down 5% over the past month.

But you can’t point the finger at this ASX All Ords share.

The Weebit Nano Ltd (ASX: WBT) share price has been on a tear over the last month, up 59%.

In earlier trading today, shares in the memory and semiconductor technology company were up 5%, marking a fresh multi-year high.

In fact, you’d have to go back to 2012 to find the All Ords share trading at a higher valuation.

The Weebit Nano share price has slid in intraday trading since notching that new milestone. Shares are currently down 3.8%, changing hands for $7.86 apiece.

At the current share price, the company has a market cap of $1.4 billion.

What’s piquing investor interest in the ASX All Ords share?

A lot has gone right for Weebit this month.

On Monday, 27 February, the ASX All Ords share reported on its United States roadshow presentation. The company profiled its embedded resistive random-access memory (ReRAM) – next-generation non-volatile memory (NVM) technology.

(Quite a mouthful, I know!)

Noting that geopolitics is driving countries to invest tens of billions of dollars locally into developing their own semiconductors, Weebit highlighted that memory comprises more than a third of the spending.

The ASX All Ords share closed up 10.3% on the day.

And February commenced well for Weebit.

Its shares were placed in a trading halt on 27 January following an administrative error. But Weebit returned to the ASX boards after seeking court orders from the Supreme Court of New South Wales.

The stock closed 5.5% higher on the day.

Weebit Nano share price snapshot

As you can see in the chart below, the Weebit Nano share price is up an eye-popping 141% so far in 2023.

Over the past 12 months, the ASX All Ords share has gained 182%.

The post Up 59% in a month, guess which ASX All Ords share just hit another multi-year high appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#43B02A”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#43B02A”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Why Kogan, Praemium, TPG, and Weebit Nano shares are racing higher
• 3 ASX All Ords shares making moves today following earnings, one up 16%
• ASX tech share Weebit Nano has surged 90% in 2023. What’s going on?
• Love all around: 2 ASX All Ords stocks smashing new 52-week highs on Valentine’s Day
• 3 ASX All Ords shares rocketing 10% or more 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.

from The Motley Fool Australia https://ift.tt/2LpdaAM

It’s no secret that inflation has been one of investors’ primary concerns on the ASX share market over the past year or two. After lying dormant for more than a decade, inflation rates around the world took off during 2022. This inflation, along with the rising interest rates that it has prompted, has caused many investors to recalibrate their investing strategies. But what does Warren Buffett think about investing in 2023?

Warren Buffett is one of the greatest investors of all time. His truly astonishing near-60-year career as the CEO and chair of Berkshire Hathaway Inc (NYSE: BRK.A)(NYSE: BRK.B) has resulted in the shareholders of Berkshire enjoying astronomical share price returns.

As our chief investment officer Scott Phillips covered earlier his week, Buffett has managed to engineer an average gain for Berkshire shareholders of 19.8% per annum over the past 58 years. In cumulative terms, that works out to be a gain of 3,787,464%.

So this is a man who knows how to navigate all forms of economic weather. And has become eye-watering rich in the process.

But what can Buffett teach us about how to invest in 2023?

Buffett’s advice to investors in 2023

Well, he has just released his latest letter to the shareholders of Berkshire Hathaway – a great place to start. Every year, Buffett pens an expansive letter to his fellow shareholders. This is typically jam-packed with insightful commentary on the investing world. As well as wisdom on how to think and invest prudently.

In his latest letter, Buffett said this on worrying about economic forecasts:

Charlie [Munger] and I… firmly believe that near-term economic and market forecasts are worse than useless. Worse than useless. Our job is to manage Berkshire’s operations and finances in a manner that will achieve an acceptable result over time and that will preserve the company’s unmatched staying power when financial panics or severe worldwide recessions occur.

So focus on the big picture, Buffett is saying between the lines.

But how does one invest going forward into 2023? Well, here’s some more Buffett wisdom on navigating an uncertain future:

In 58 years of Berkshire management, most of my capital-allocation decisions have been no better than so-so. In some cases, also, bad moves by me have been rescued by very large doses of luck…

Our satisfactory results have been the product of about a dozen truly good decisions – that would be about one every five years – and a sometimes-forgotten advantage that favors long-term investors such as Berkshire.

The lesson for investors: The weeds wither away in significance as the flowers bloom. Over time, it takes just a few winners to work wonders. And, yes, it helps to start early and live into your 90s as well.

Buffett points out that when he bought US$1.3 billion worth of Coca-Cola Company (NYSE: KO) shares in 1994, Berkshire received US$75 million worth of dividend payments. By 2022, the annual income stream from these Coke shares had increased to US$704 million.

As Buffett would put it, this ‘flower’ has been able to ratchet up its dividends significantly. That’s despite the Asian financial crisis, the dot-com bust, the global financial crisis, the pandemic, and now high inflation and rising rates.

Thus, Buffett is saying that if you find real top-tier shares, you won’t have to worry about inflation, or anything else.

The post Forget inflation! Warren Buffett urges investors to focus on the big picture appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Beginner investor? Warren Buffett says start early!
• How to generate passive income the Warren Buffett way with ASX shares
• I’m listening to Warren Buffett and buying ASX shares at deep discounts
• Will the stock market crash in 2023?
• Invest like Warren Buffett with these ASX shares

Motley Fool contributor Sebastian Bowen has positions in Berkshire Hathaway. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Berkshire Hathaway. The Motley Fool Australia has recommended Berkshire Hathaway. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/sEM4vSO

The Lynas Rare Earths Ltd (ASX: LYC) share price has been a poor performer on Thursday.

In afternoon trade, the rare earths producer’s shares are down over 5% to $7.95.

What’s going on with the Lynas share price?

Investors have been hitting the sell button today despite there being no news out of the company.

However, it is worth noting that a large number of battery and critical minerals shares are under the pump on Thursday.

This appears to have been driven by the Tesla investor day event, which seems to have disappointed the market.

It’s possible that investors were hoping that Tesla would increase its target of producing 20 million electric vehicles per year by 2030. However, these targets were reiterated by executives according to CNBC.

Should you buy the dip?

According to a note out of Bell Potter from earlier this week, it appears to believe that investors should sit tight and wait for a better entry point. Particularly after its half-year results fell short of expectations.

Commenting on the results, it said:

LYC reported its 1HFY23 earnings today, Revenue of A$370m was 6% lower than our estimates (BPe $391m). Costs of goods sold ex-depreciation (COGS) were $185m vs BPe $158m, increasing 62% higher vs 1HFY22a. Ebitda was therefore 10% lower than we forecast, at $189m vs BPe $209m and in-line with 1HFY22a.

As a result, Bell Potter has retained its neutral rating with a $8.15 price target. This implies minimal upside from where its shares are currently trading.

The post Why is the Lynas share price being thumped on Thursday? appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#43B02A”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#43B02A”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Are Lynas shares a buy following Monday’s 6% dive?
• Lynas share price slips as costs jump 32%
• 4 ASX 200 mining shares to buy for takeover potential: expert
• Investing in Lynas shares? Here’s why Malaysia may reconsider its licence restrictions
• Here are the best ASX shares to buy for the coming decade: Firetrail

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.

from The Motley Fool Australia https://ift.tt/PtNxl8h

The Novonix Ltd (ASX: NVX) share price has found itself on the back foot today. Today’s move comes amid a handful of recent developments that could be acting as an anchor on investor sentiment.

As we head into the afternoon, shares in the battery technology company are down 6.3% to $1.49. This negative turn places Novonix’s shares marginally above the 52-week low of $1.39. Meanwhile, the S&P/ASX 200 Index (ASX: XJO) is only a touch lower than yesterday.

Let’s wade through what could be invoking the woeful performance today.

Pressure on to scale faster or lose tech moat

Tesla held its 2023 Investor Day this morning, providing insights into how the electric vehicle (EV) maker plans to procure the materials necessary to deliver on its ambitious goal of selling 20 million vehicles by 2030.

In the eyes of many, the shift to an electrified future has manifested concerns about a shortfall in the supply of lithium and other green metals. Yet, in Tesla’s presentation, it was suggested there are ample estimated resources to meet the accumulative demand through to 2050, as pictured below.

Tesla Inc (NASDAQ: TSLA) CEO Elon Musk discussed the real crux of material constraints for the company, stating:

There also seems to be quite a bit of confusion about lithium — lithium is extremely common. It’s one of the most common elements on Earth. There’s no country that has a monopoly on lithium, or even close to it. There’s enough lithium ore in the United States to electrify all of Earth. If the United States was the only place producing lithium, there’s enough domestic material to electrify Earth.

The limiting factor is the refining of the lithium into battery-grade lithium hydroxide or lithium carbonate. That’s the actual limiting factor.

However, Novonix isn’t exactly a ‘lithium share‘, as the company seeks to produce cathodes and anodes from synthetic graphite for use in lithium-ion batteries. Though, this area of the battery supply chain was also discussed during the presentation.

Musk discussed how Tesla is in the process of building its own cathode refining facility, stating:

We are obviously building a cathode processing facility just adjacent to this building […] that’s for cathode refining. We’d really prefer it if others did that. We’re doing it because we have to, not because we want to.

Furthermore, senior vice president of powertrain and energy engineering, Don Baglino, added:

There just really isn’t any large-scale cathode production in the United States and it needed to be done.

This may highlight that Novonix is dragging its feet when it comes to spinning up production at scale. Adding to the issue, Baglino said they would share any process improvements with their supply partners.

Perhaps Novonix shareholders are concerned that Tesla could discover advancements that would minimise the company’s competitive advantage.

What else is hitting the Novonix share price?

Novonix released its results for the six months ending 31 December 2022 on Tuesday. The statements showed a continued lack of meaningful revenues, at US$2.7 million for the period. For context, the company brought in US$6.1 million for the 12 months ending 30 June 2022.

The ASX-listed company also reported a US$27.86 million loss. That means Novonix’s cash balance was widdled away even further during the half.

Following the result, Morgans moved Novonix shares to a hold with a $1.44 price target.

The post Why is the Novonix share price tumbling 6% today? appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Surging Tesla share price propels Elon Musk to world’s richest person again
• Here are the top 10 ASX 200 shares today
• Just how low could the Novonix share price go?
• Magnis share price rockets 23% on Tesla deal
• Down 70% in a year, what’s next for beaten-up Novonix shares?

Motley Fool contributor Mitchell Lawler has positions in Tesla. 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.

from The Motley Fool Australia https://ift.tt/cQhHbK4

ASX shares paid out a whopping $97.7 billion of dividends in 2022 – a new record in Australian dollar terms. And a single stock was behind much of that figure.

In fact, the S&P/ASX 200 Index (ASX: XJO) mining giant has been crowned the world’s biggest dividend payer for the second year running.

That’s according to new data from Janus Henderson Group (ASX: JHG)’s latest Global Dividend Index, considering the top 1,200 global stocks.

Let’s take a closer look at Australia’s record year of dividends and the mining stock behind much of the growth.

Aussie giant crowned world’s biggest dividend payer 

Take a stab at which ASX 200 miner you think might have been behind the world’s largest full-year dividend in 2022. If you guessed BHP Group Ltd (ASX: BHP), you’d be right.

The aptly nicknamed ‘Big Australian’ provided investors with US$3.25 of passive income per share in 2022 – an 8% year-on-year jump.

That was largely thanks to soaring coal prices and despite the iron ore giant having merged its petroleum assets with Woodside Energy Group Ltd (ASX: WDS) during the year.

That’s not to say BHP paid the most dividends per share last year, or that it offered the biggest dividend yield. Rather, the total dividends it paid surpassed that of any other share.

BHP was behind a grand total of around US$16.4 billion in ordinary dividends last year. But it was its franking credits that pushed it into the top spot.

Without considering BHP’s franking credits, Brazil’s Petrobras was the world’s biggest payer. It handed investors US$21.7 billion in 2022 – a 138% year-on-year improvement.

ASX 200 shares competing on the global stage

The ASX saw 9.8% of underlying dividend growth last year. However, its headline rate came to a 4.9% drop after exchange rates and fewer special dividends from mining stocks were factored in.

Speaking of falls, Rio Tinto Ltd (ASX: RIO)’s total 2022 dividends came in as the world’s seventh largest – down from the third spot in 2021.

Meanwhile, Fortescue Metals Group Limited (ASX: FMG) tumbled out of the globe’s top 20 dividend payers entirely. It scraped into the top 10 in 2021.  

Rio Tinto and Fortescue slashed their full-year dividends by 18% and 42% respectively year-on-year in 2022.  

Looking more broadly at the ASX, banking shares and mining stocks made up more than 75% of Australia’s dividends last year, with Aussie banks growing their dividends by 5.9%.

The post ASX shares declared a record $98b of dividends last year. Do you own the market’s biggest payer? appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Why BHP, Dicker Data, South32, and Winsome Resources are pushing higher
• Should I buy BHP shares at $46?
• Why did the BHP share price tumble 9% in February?
• Own BHP shares? Here’s how the ASX 200 miner is cutting emissions
• Why are ASX 200 mining shares ending the week in the red?

Motley Fool contributor Brooke Cooper 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.

from The Motley Fool Australia https://ift.tt/M9Gy7RS

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) has given back the majority of its intraday gains and is fighting to stay in positive territory. At the time of writing, the benchmark index is up 0.1% to 7,256.8 points.

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

BHP Group Ltd (ASX: BHP)

The BHP share price is up 3.5% to $47.85. Investors have been buying this mining giant’s shares after commodity prices rose overnight. The driver of this was the release of very strong economic data out of China, which has sparked hopes that demand could increase majorly.

Dicker Data Ltd (ASX: DDR)

The Dicker Data share price is up 1.5% to $8.44. Earlier this week, the computer software and hardware distributor revealed that three of its directors have been loading up on shares through on-market trades. With Dicker Data’s shares falling to a 52-week low on Monday, these directors appear to have seen a buying opportunity.

South32 Ltd (ASX: S32)

The South32 share price is up 5% to $4.69. As with BHP, this is likely to have been driven by a strong night of trade for base metals. As covered here, the copper futures price rose 1.7% and the aluminium futures price climbed 2.3% after data from China showed that manufacturing activity rose at the fastest pace in more than a decade in February.

Winsome Resources Ltd (ASX: WR1)

The Winsome Resources share price is jumping 15% to $2.37. This is despite there being no news out of the lithium explorer. However, investors appear excited by Winesome Resources’ 100%-owned Adina project in Quebec, Canada. It recently released drilling results that “confirm the high-grade nature of the lithium mineralisation at the Adina Main Zone.”

The post Why BHP, Dicker Data, South32, and Winsome Resources are pushing higher appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#43B02A”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#43B02A”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Why is the South32 share price surging 5% on Thursday?
• Should I buy BHP shares at $46?
• Why did the BHP share price tumble 9% in February?
• Dicker Data share price falls on FY22 earnings and dividend decline
• Want an income boost? Buy these ASX dividend shares: experts

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 positions in and has recommended Dicker Data. The Motley Fool Australia has positions in and has recommended Dicker Data. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/oXLk1Wc

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a small gain. At the time of writing, the benchmark index is up 0.1% to 7,259.4 points.

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

Brainchip Holdings Ltd (ASX: BRN)

The Brainchip share price is down 3% to 51.5 cents. Investors have continued to sell this semiconductor company’s shares after it reported just US$250k of revenue during the second half of FY 2022. Brainchip remains one of the most shorted shares on the Australian share market. It appears that the smart money believes this the company is all hype and no substance.

Coles Group Ltd (ASX: COL)

The Coles share price is down over 3% to $17.40. The catalyst for this has been the supermarket giant’s shares trading ex-dividend this morning for its upcoming interim dividend. Eligible shareholders can now look forward to receiving this fully franked 36 cents per share dividend at the end of the month on 30 March.

Karoon Energy Ltd (ASX: KAR)

The Karoon Energy share price is down 5% to $2.12. This has been driven by news that the energy producer has been hit with a new tax in Brazil. It revealed that the Brazilian government is putting a 9.2% tax on oil exports for the next four months. Karoon Energy estimates that it will result in a potential payment of US$22 million to US$35 million.

Pilbara Minerals Ltd (ASX: PLS)

The Pilbara Minerals share price is down 4% to $4.04. As with Coles, this has been caused by the lithium miner’s shares going ex-dividend. Last month, Pilbara Minerals declared its maiden 11 cents per share fully franked interim dividend. This will be paid to eligible shareholders later this month on 24 March.

The post Why Brainchip, Coles, Karoon Energy, and Pilbara Minerals shares are tumbling appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Someone in China has just sold $600 million of Pilbara Minerals shares. Here’s what we know
• Why is the Pilbara Minerals share price falling in a hole Thursday morning?
• Why is the Coles share price sinking today?
• 4 ASX 200 lithium shares to buy now: broker
• 5 things to watch on the ASX 200 on Thursday

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 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.

from The Motley Fool Australia https://ift.tt/GdLDInv

Liontown Resources Ltd (ASX: LTR) shares have gained 4% so far this week.

Shares in the ASX lithium stock are currently trading for $1.40 apiece, which gives it a market cap of $3.1 billion. 

But Stuart Howe, an analyst at Bell Potter, believes Liontown shares could have much further to run.

The broker has a speculative buy rating on the stock, with a price target of $2.81 per share.

That’s 101% above the current Liontown share price.

What’s happening with the ASX lithium stock?

Liontown is currently developing its Kathleen Valley Lithium Project, located in Western Australia.

Lithium mineralisation at the project is hosted within spodumene-bearing pegmatite dykes.

The miner expects first production at the project in mid-2024 with a capacity between three to four million tonnes per year.

In the company’s quarterly results, released 31 January, Liontown did note that it was facing industry-wide cost escalations. However, its balance sheet was strong, with a cash balance of $384 million as at 31 December and an undrawn $300 million debt facility with Ford Motor Company.

Liontown shares closed down 5.7% on the day it reported.

Commenting on the company’s progress towards production, managing director Tony Ottaviano said:

The December quarter marked a significant period of progress for Liontown with construction activity stepping up on-site at Kathleen Valley, key contracts awarded and new personnel joining us as we continued to build our high calibre team.

Ottaviano added, “The rapid and efficient achievement of so many early critical path construction milestones set us up for the successful delivery of the project.”

While first production is still likely more than a year away, Liontown shares could benefit in the meantime from an alternate source of revenue. The company is progressing with a Direct Shipping Ore (DSO) opportunity. This will enable it to sell material that wasn’t originally expected to be processed.

How have Liontown shares been performing?

As you can see on the chart below, Liontown shares are down 7% over the past 12 months.

Longer-term, the ASX lithium stock has gained a whopping 3,400% over five years.

The post Buy Liontown shares for 100% upside: broker appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• 4 ASX 200 lithium shares to buy now: broker
• Roar! Broker initiates coverage on Liontown shares with buy rating
• Here are the 10 most shorted ASX shares this week
• Here are the top 10 ASX 200 shares today
• Why are ASX 200 lithium shares having such a stellar run 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.

from The Motley Fool Australia https://ift.tt/VcRAC4z

There’s been plenty of insider buying among S&P/ASX 200 Index (ASX: XJO) shares this week, with one director snapping up a whopping $198,000 stake in their company.

Let’s take a closer look at all the action going down among market favourites.

6 ASX 200 directors buying their own companies’ shares

The spotlight might be on ASX 200 lithium share Allkem Ltd (ASX: AKE) this week after the company’s chair Peter Coleman snapped up a sizeable chunk of its securities.

He bought 17,054 Allkem shares between Friday and Tuesday, paying an average of around $11.61 apiece to more than double his holding. That equals a total spend of nearly $198,000.

The buying spree saw the boss bolstering his stake for a bargain price if Goldman Sachs is to be believed. The top broker tipped the Allkem share price to soar to $15.40 earlier this week, as my Fool colleague James reports.

Also the subject of insider buying this week is Charter Hall Retail REIT (ASX: CQR). The real estate investment trust’s (REIT’s) chair Roger Davis bought 38,669 units for around $3.98 apiece on Monday.

Over at banking giant Commonwealth Bank of Australia (ASX: CBA), director Anne Templeman-Jones was buying. She snapped up 300 shares for an average price of $101.10 apiece.

Meanwhile, Bapcor Ltd (ASX: BAP) saw not one, but two board members buying up its shares this week.

Chair Margaret Anne Haseltine bought 7,515 shares for $6.65 apiece while director Brad Soller bought 7,500 for the slightly higher price of $6.66 apiece.

Gold miner Regis Resources Ltd (ASX: RRL) has also seen insider buying this week. Director Paul Arndt bought into the company on Tuesday, acquiring 9,273 shares for a total of around $15,857, or approximately $1.71 apiece.

And finally, Healius Ltd (ASX: HLS) chair Jenny McDonald bolstered her stake in the pathology giant, buying 37,500 shares for $2.751 apiece – a total spend of around $103,000.

The post 6 ASX 200 directors buying up their companies’ shares this week appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• An insider just loaded up on Allkem shares: Should you buy into this lithium giant?
• 4 ASX 200 lithium shares to buy now: broker
• 5 things to watch on the ASX 200 on Thursday
• Watch out CBA: This ASX 200 bank share is rapidly growing
• Here are the top 10 ASX 200 shares today

Motley Fool contributor Brooke Cooper 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 Goldman Sachs Group. The Motley Fool Australia has recommended Bapcor. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/FKdZLj7