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The S&P/ASX 200 Index (ASX: XJO) traded in the red on Tuesday, falling 0.21% to close at 7,336.3 points.

Its dip came amid a particularly busy earnings season session, with more than a dozen market giants posting results.

Among them were BHP Group Ltd (ASX: BHP), Coles Group Ltd (ASX: COL), and Tabcorp Holdings Limited (ASX: TAH).

Meanwhile, the Reserve Bank of Australia released the minutes of its February meeting, stating it didn’t even consider not hiking rates earlier this month. Instead, the central bank debated between a 0.25% rise and a 0.5% rise.

The S&P/ASX 200 Materials Index (ASX: XMJ) was today’s top-performing sector, rising 0.6% despite the BHP share price sliding on the mining giant’s first-half earnings.

Though, many of the company’s iron ore-focused peers posted strong gains amid one top broker’s positive outlook for the steel-making ingredient’s price.

Meanwhile, the S&P/ASX 200 Communications Index (ASX: XTJ) weighed heaviest, falling 1.2%.

But which ASX 200 shares posted the biggest gain on the index today? Let’s take a look.

Top 10 ASX 200 shares countdown

Today’s top-performing ASX 200 share was Johns Lyng Group Ltd (ASX: JLG) after the building services company dropped its earnings for the first half.

It revealed an 84% jump in post-tax profit and hiked its dividend by 67% to 4.5 cents per share.

These shares made today’s biggest gains:

ASX-listed company	Share price	Price change
Johns Lyng Group Ltd (ASX: JLG)	$6.34	13.21%
Hub24 Ltd (ASX: HUB)	$29.09	7.74%
Sayona Mining Ltd (ASX: SYA)	$0.215	4.88%
Pilbara Minerals Ltd (ASX: PLS)	$4.39	4.52%
Nickel Industries Ltd (ASX: NIC)	$1.065	4.41%
BlueScope Steel Limited (ASX: BSL)	$18.62	4.37%
Ramelius Resources Limited (ASX: RMS)	$0.865	4.22%
Tabcorp Holdings Limited (ASX: TAH)	$1.04	4%
Liontown Resources Ltd (ASX: LTR)	$1.34	3.88%
Mineral Resources Ltd (ASX: MIN)	$84.97	3.81%

Our top 10 shares countdown is a recurring end-of-day summary to let you know which companies were making big moves on the day. Check in at Fool.com.au after the weekday market closes to see which stocks make the countdown.

The post Here are the top 10 ASX 200 shares today appeared first on The Motley Fool Australia.

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More reading

• 2 ASX 200 mining shares making moves on earnings updates
• Why are ASX 200 lithium shares having such a stellar run today?
• Here are the 3 most heavily traded ASX 200 shares on Tuesday
• Why Hub24, Johns Lyng, Judo Capital, and Magnis shares are charging higher
• Why is the Core Lithium share price rebounding 5% on Tuesday?

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 Hub24 and Johns Lyng Group. The Motley Fool Australia has positions in and has recommended Coles Group and Hub24. The Motley Fool Australia has recommended Johns Lyng 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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It has been a much better day for ASX 200 lithium shares on Tuesday.

After a heavy decline on Monday, they are rebounding strongly this afternoon.

ASX lithium shares rebound

Here’s what is happening in the lithium industry today:

• The Allkem Ltd(ASX: AKE) share price is up 3%
• The Core Lithium Ltd(ASX: CXO) share price is up 4%
• The IGO Ltd (ASX: IGO) share price is up 2%
• The Lake Resources N.L.(ASX: LKE) share price is up 4%
• The Liontown Resources Ltd(ASX: LTR) share price is up 4%
• The Pilbara Minerals Ltd(ASX: PLS) share price is up 4%

What’s happening?

On Monday, investors were selling off ASX lithium shares amid news that the world’s largest battery maker, CATL, is offering discounts to Chinese automakers.

According to Reuters, these discounts are being offered in response to a downturn in the price of lithium and a bid to win more orders. This sparked fears that this was an indication that CATL believes prices are going to be coming down rapidly from recent highs.

However, a note out of Canaccord Genuity this morning could have eased investor nerves. It has responded positively to an update out of Pilbara Minerals on Monday regarding a new sales arrangement for a 15,000 tonne cargo of spodumene concentrate.

This agreement has been structured to be based on a tolling arrangement under which Pilbara Minerals will receive the value of lithium hydroxide price for the product sold less an agreed amount for conversion and other costs.

Canaccord Genuity was pleased with the news and notes that the pricing implied by the agreement is “well north of our US$4,500/t MarQ’23 assumption and US$3,500/t JunQ’23 assumption.”

All in all, the broker appears confident that Pilbara Minerals is well-placed to deliver strong earnings in the near term and appears to see recent weakness is a buying opportunity. As a result, it has retained its buy rating and $5.00 price target on this ASX 200 lithium share.

Investors appear hopeful that sky high prices may not be over as feared, at least for now.

The post Why are ASX 200 lithium shares having such a stellar run today? 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
• Why is the Core Lithium share price rebounding 5% on Tuesday?
• At under 30 cents each, are these ASX lithium stocks cheap?
• Should I dig in and buy Pilbara Minerals shares before the ASX 200 lithium miner reports on Thursday?
• Here are the 3 most heavily traded ASX 200 shares on Monday

Motley Fool contributor James Mickleboro has positions in Allkem. 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 is having a bit of a shaky session so far this Tuesday. At the time of writing, the index has retreated from yesterday’s close, currently down 0.19% at just over 7,335 points.

It was even worse for the ASX 200 earlier this morning too, with the market sinking down to below 7,300 points at one point.

But rather than letting all that get us down, let’s turn our attention to the stocks that are currently at the top of the ASX 200’s share trading volume charts at present, according to investing.com.

The 3 most traded ASX 200 shares by volume this Tuesday

Pilbara Minerals Ltd (ASX: PLS)

Our pioneering share today in terms of trading volumes is the ASX 200 lithium producer Pilbara Minerals. So far this session, a notable 16 million Pilbara shares have traded hands as it currently stands. There’s been no new news or announcements out of Pilbara itself today.

However, the company, alongside most other ASX lithium stocks, has experienced a pretty massive share price gain all the same. My Fool colleague went into this sector-wide love earlier this afternoon.

At present, Pilbara shares have enjoyed a 4.4% jump in value to $4.38 a share, which is probably the reason we are seeing so many shares flying around.

Sayona Mining Ltd (ASX: SYA)

Next up we have another ASX 200 lithium stock in Sayona Mining. This Tuesday has had an impressive 16.78 million Sayona shares find a new home thus far.

We haven’t had any fresh news out of Sayona today either. So again, it seems this is a similar situation to that of Pilbara. In Sayona Mining’s case, the company has lifted by a chunky 5.85% at present to 22 cents a share. No wonder so many shares have been traded after a gain of this size.

Mirvac Group (ASX: MGR)

Finally today, we have the ASX 200 real estate investment trust (REIT) Mirvac Group. Mirav has seen a whopping 44.73 million of its units exchanged on the ASX at this point of the trading day.

With no developments out of this REIT, it seems that once again we have to look to this trust’s unit price movements for an explanation. And Mirvac has indeed had quite a volatile day.

Investors started Mirvac out strong this morning, with the REIT rising as high as $2.25 per unit. But investors seem to have gotten a case of the cold feet, seeing as Mirvac has now swung into the red zone.

Right now, Mirvac is going for $2.22 per unit, down by 0.45% this session, after going as low as $2.20 earlier this afternoon. This bouncing around is probably the cause of the elevated volumes we are witnessing.

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

• 3 ASX 200 stocks falling hard on results announcements
• Why is the Core Lithium share price rebounding 5% on Tuesday?
• At under 30 cents each, are these ASX lithium stocks cheap?
• 2 ASX 200 consumer shares tumbling lower on earnings updates
• Goldman tips 20% surge in iron ore price. Should I buy ASX 200 mining shares?

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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These three stocks are joining the S&P/ASX 200 Index (ASX: XJO) in the red on Tuesday as they tumble on the back of earnings releases.

In fact, they’re down by as much as 8.74% right now. At the same time, the ASX 200 is down 0.16% at 7,339.8 points right now.

Let’s take a closer look.

3 ASX 200 stocks tumbling on earnings

First off the bat, the Monadelphous Group Ltd (ASX: MND) share price is plummeting 8.74% to trade at $12.74 at the time of writing.

It comes after the ASX 200 engineering group posted a 10.5% drop in revenue for the first half, coming in at $953 million. Meanwhile, its net profit after tax (NPAT) fell 3.1% to $29.1 million.

Its dividend for the period was flat with that of the prior year at 24 cents per share fully franked.

But it wasn’t all bland. Monadelphous’ maintenance and industrial services division posted a record half, with $676.8 million of revenue coming in – a 13.5% jump on strong commodity prices, high production, and aging infrastructure.

Its engineering construction division, meanwhile, saw revenue slump 42.1% to $277.7 million. Its fall came after numerous construction projects completed in the prior financial year.

Joining Monadelphous’ stock in the red is that of ASX 200 diversified property group Stockland Corporation Ltd (ASX: SGP). Its stock is down 3.47% right now, trading at $3.755.

That’s despite its funds from operations lifting 0.7% to $353 million in the first half.

However, its statutory profit came in 64.6% lower that of the prior comparable period at $301 million. Last half saw a $30 million uplift in commercial property revaluation gains compared to $543 million in the prior period.

It also dropped its residential settlement expectations for financial year 2023 from around 6,000 to around 5,500 on the back of weather-related delays.

Stockland declared an 11.8 cents per share interim dividend – 19.2% lower than that of last financial year.

Finally, stock in ASX 200 fuel refiner and retailer Viva Energy Group Ltd (ASX: VEA) is tumbling. That’s despite the company posting record full-year earnings this morning.

Its earnings before interest, tax, depreciation, and amortisation (EBITDA) on a replacement cost basis came in at a record $1.1 billion. That marked a 122% year-on-year improvement.

Meanwhile, its NPAT more than tripled to $596.6 million. Its full-year dividends also rose 270% higher year-on-year to 27 cents per share.

However, the market appears to have expected more. The stock is trading at $2.925, a 3.47% fall.

The post 3 ASX 200 stocks falling hard on results announcements appeared first on The Motley Fool Australia.

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More reading

• 2 ASX 200 consumer shares tumbling lower on earnings updates
• Goldman tips 20% surge in iron ore price. Should I buy ASX 200 mining shares?
• 5 things to watch on the ASX 200 on Tuesday
• Here are the top 10 ASX 200 shares today
• Here are the 3 most heavily traded ASX 200 shares on Monday

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.

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Ingenia Communities Group (ASX: INA) is the worst-performing ASX 200 share on the market today.

Ingenia shares opened at $3.72, down 19.5%, and quickly descended to an intraday low of $3.61. This represented a 21.85% drop. The stock has since recovered to $3.98, down 13.85% for the day.

This follows the release of the retirement and holiday communities developer’s half-year FY23 results.

While the company reported a 24% increase in earnings before interest and taxes (EBIT), it downgraded its full-year EBIT growth guidance significantly from 30% to between 0% and 10%.

ASX 200 share in trading halt before results release

The ASX property share went into a trading halt at the company’s request before the market open yesterday. That froze the ASX 200 share at Friday’s closing price of $4.62.

Ingenia asked for the trading halt “in order to review recently updated home settlement forecasts and confirm its impact on earnings guidance, previously provided to the market”.

The shares recommenced trading and crashed shortly after the results were released at 11.30am today.

Meantime, S&P/ASX 200 (ASX: XJO) shares are down a collective 0.2% as the market close nears.

What did the company report?

In its statement, the company said it had “growth levers in place” but production and settlement delays would impact its FY23 result, resulting in the downgrade to guidance.

Here are the highlights for the six months ending 31 December 2022:

• Revenue of $173.6 million, up 32% on the prior corresponding period (pcp) of 1H FY22
• EBIT of $42 million, up 24% pcp
• Underlying earnings per share (EPS) of 8.5 cents, up 5% pcp
• Statutory profit of $33.7 million, down 16% pcp
• 5.2 cents per share distribution (unfranked) to be paid on 23 March

What did management say?

Ingenia CEO, Simon Owen said continuing construction delays and the falling residential market were key challenges for 2H FY23.

Owen commented on the results and outlook, saying:

During the first half, revenue and EBIT increases on the prior year were delivered as we benefitted from
an expanded asset base as well as growth in rents across the residential portfolios and strong performance from the holidays business.

We commenced our asset recycling program as we focussed on improving portfolio quality and internally funding growth.

However, extended construction timeframes and the subsequent impact on home settlements moderated first half earnings.

What’s next for this ASX 200 share?

Owen said Ingenia’s residential communities and holidays businesses “are performing well and
experiencing ongoing demand”.

However, short-term challenges like ongoing labour shortages and construction delays, as well as rising inflation and interest rates, would lead to longer lead times with settlements.

Owen pointed to recent data showing days on market in regional areas had increased significantly from last year.

He said:

Whilst we are taking a prudent approach given the uncertainty, as we move into FY24, greater project
diversity and progress on our new projects will contribute to increased settlement volumes as we scale the development business.

Ingenia share price snapshot

The ASX 200 share is down 11.4% in the year to date and down 28.2% over the past 12 months.

Ingenia is underperforming its peers, with the S&P/ASX 200 A-REIT Index (ASX: XPJ) up 6.7% in the year to date and down 13% over the past 12 months.

This compares to a 6.5% year-to-date bump in the ASX 200 and a 1.4% rise over the past year.

The post Guess which ASX 200 share just crashed 22% on its results announcement appeared first on The Motley Fool Australia.

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More reading

• Why A2 Milk, Altium, Cogstate, and Ingenia shares are sinking today

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 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 dividend stocks are a wonderful way to make passive income in Australia.

Not only do some ASX shares pay wonderful dividends (or distributions), but Australian companies also have the added bonus of franking credits, which are refundable tax credits.

In other words, for high-income earners, the franking credits will reduce the tax burden of receiving the dividends. For lower-income earners, some (or all) of the franking credits may be refunded when the tax return is completed.

But, I wouldn’t suggest investing in an asset or an ASX share just because of the possible income. The risk of a fall in the share price means we should try to identify good investments that are at good prices.

In my opinion, the below three names tick the necessary boxes.

Brickworks Limited (ASX: BKW)

Brickworks is the leading brickmaker in Australia. It also offers other products including roofing (through Bristle Roofing) which makes it fairly diversified.

The ASX dividend stock is also increasing its exposure to the northern hemisphere. It has been growing its brick market share in North America after making some acquisitions there. Plus, the business will soon be supplying millions of bricks to the UK after recently signing an agreement with a distributor.

Brickworks also owns two other major assets that are funding its dividend and delivering growth.

Firstly, Brickworks owns a large chunk of Washington H. Soul Pattinson and Co. Ltd (ASX: SOL) shares. Soul Pattinson itself has grown its dividend to shareholders every year for the last two decades.

Brickworks also has a 50% stake in a growing industrial property trust. That trust is building huge, modern warehouses on land that Brickworks no longer needs. This is enabling the generation of property development profits and unlocks a growing stream of rental income.

Brickworks hasn’t cut its dividend for over four decades and currently has a trailing grossed-up dividend yield of 3.7%.

Adairs Ltd (ASX: ADH)

The Adairs share price has been one of the most-hit ASX dividend stocks during this period of volatility and uncertainty surrounding the economy as interest rates soar.

It’s quite possible that the company’s earnings will have a bumpy ride over the next year or so. The company sells furniture and homewares through three different brands – Adairs, Focus on Furniture and Mocka.

Adairs just reported its FY23 first half, which showed that earnings per share (EPS) was up 22% to 12.7 cents per share. The company also said that it was focusing on debt reduction – net debt fell by $12.2 million from June 2022 to $81 million at December 2022.

Despite that, Adairs decided to pay a dividend per share of 8 cents per share. If it were to pay an annual dividend per share of 16 cents for FY23, that would equate to a grossed-up dividend yield of 9.5%.

I think that retail conditions will improve in 2024, which could be helpful for both investor sentiment and hopefully earnings.

Rural Funds Group (ASX: RFF)

Rural Funds is a real estate investment trust (REIT) that owns farmland across Australia. That includes cattle, almonds, vineyards, macadamias, sugar and cotton.

The ASX dividend stock has a goal of increasing its distribution to investors by 4% each year. The Rural Funds share price is close to its 52-week low, so I think this is a very good time to consider investing.

While the cost of debt has increased, the REIT’s rental income which is linked to CPI inflation is also getting a boost.

I think that this is a good time to invest while the distribution yield is elevated. A total distribution of 12.2 cents per unit could be paid in FY23, which would equate to a distribution yield of 5.2%.

For me, farmland seems like a good long-term investment that doesn’t deteriorate in the same way that an office building or shopping centre does.

The post ASX investors: 3 of the best Aussie dividend stocks to buy this year appeared first on The Motley Fool Australia.

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More reading

• Boost your passive income with these ASX shares: analysts
• Top ASX small-cap shares to buy in 2023
• How a stock market crash could turbocharge my ASX share portfolio
• Adairs share price falls amid strong first half growth but guidance downgrade
• Why term deposits can’t compete with these 5 ASX dividend machines

Motley Fool contributor Tristan Harrison has positions in Brickworks, Rural Funds Group, and Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Adairs, Brickworks, and Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia has positions in and has recommended Adairs, Brickworks, Rural Funds Group, and Washington H. Soul Pattinson and Company Limited. 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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Woodside Energy Group Ltd (ASX: WDS) shares will be on watch next week.

That’s because on 27 February, the energy giant is scheduled to release its full-year results.

Ahead of the release, let’s take a look at what the market is expecting from the company.

What is the market expecting from Woodside’s results?

According to a note out of Morgans, its analysts are expecting Woodside to deliver very strong revenue and earnings growth in FY 2022. This is due to a combination of strong oil prices and the BHP Group Ltd (ASX: BHP) petroleum demerger.

The latter saw Woodside take control of these assets in the middle of last year, creating “a global independent energy company.”

As for oil prices, Morgans estimates that Woodside commanded an average brent oil price of US$101.11 a barrel during the 12 months. This is up from US$71.73 a barrel the previous year.

Revenue and earnings to double

The broker is forecasting revenue of US$16,973 million from Woodside in FY 2022, which represents a 139% increase year over year.

It will be a similar story for Woodside’s earnings according to the broker. It is forecasting EBITDAX of US$11,227 million and underlying EBITDA of US$10,990 million for the year. This will be up 142% and 154%, respectively.

And on the very bottom line, a net profit after tax of US$5,192 million is forecast. This will be up 210% from US$1,674 million a year earlier.

The good news for shareholders is that this earnings growth is expected to lead to a big dividend boost in FY 2022. Morgans is forecasting Woodside to pay a full-year dividend of 201.6 US cents per share (A$2.93). This will be up from 135 US cents per share in FY 2021.

Based on where Woodside shares are currently trading, this equates to a very generous 8.5% dividend yield.

The post Own Woodside shares? Here’s what the market is expecting from its full-year results appeared first on The Motley Fool Australia.

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More reading

• 5 things to watch on the ASX 200 on Monday
• 5 things to watch on the ASX 200 on Friday
• How I’d generate a $20,000 second income from Woodside shares
• 5 things to watch on the ASX 200 on Wednesday
• Woodside share price turns red following production update

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 Index (ASX: XJO) has come under pressure on Wednesday. In afternoon trade, the benchmark index is down 0.2% to 7,336.2 points.

Four ASX shares that aren’t letting that hold them back today are listed below. Here’s why they are charging higher:

Hub24 Ltd (ASX: HUB)

The Hub24 share price is up almost 11% to $29.87. Investors have been buying this investment platform provider’s shares following the release of its half-year results. For the six months ended 31 December, Hub24 reported an 87% increase in net profit after tax to $26.6 million.

Johns Lyng Group Ltd (ASX: JLG)

The Johns Lyng share price is up over 15% to $6.47. This morning, the integrated building services company released its half-year results and reported a 63% increase in first-half EBITDA. This strong half has led to the company upgrading its revenue and EBITDA forecasts for the full year.

Judo Capital Holdings Ltd (ASX: JDO)

The Judo Capital share price is up 5% to $1.52. This has been driven by the business lending company’s half year results, which revealed a 322% increase in pre-tax profits to $53.2 million. This was underpinned by a 23% increase in gross loans and advances and a 72 basis points increase in its underlying net interest margin to 3.56%.

Magnis Energy Technologies Ltd (ASX: MNS)

The Magnis share price has jumped 8% to 43.7 cents. This morning, this lithium-ion battery technology and materials company revealed that it has entered into a binding offtake agreement with electric vehicle giant Tesla for the supply of anode active materials (AAM) from February 2025. Tesla will purchase a minimum 17,500 tonnes per annum (tpa) with the option to buy up to 35,000 tpa for a minimum three-year term at a fixed price.

The post Why Hub24, Johns Lyng, Judo Capital, and Magnis shares are charging higher appeared first on The Motley Fool Australia.

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• Magnis share price rockets 23% on Tesla deal
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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 positions in and has recommended Hub24, Johns Lyng Group, and Judo Capital. The Motley Fool Australia has positions in and has recommended Hub24. The Motley Fool Australia has recommended Johns Lyng 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 Fortescue Metals Group Limited (ASX: FMG) share price hit a new 52-week high of $23.33 in early afternoon trading.

There is no price-sensitive news out of Fortescue today, however, it’s likely that Goldman Sachs’ prediction of a 20% bump to the iron ore price is playing a role in the ASX mining giant’s leap.

In addition, S&P/ASX 200 Materials (ASX: XMJ) is the best performer among the 11 market sectors today, up 0.6% compared to the benchmark S&P/ASX 200 Index (ASX: XJO) which is down 0.25%.

On top of all that, Fortescue shares might be looking more attractive than BHP Group Ltd (ASX: BHP) shares after the Big Australian released its 1H FY23 results, revealing a consensus earnings miss of 7.5%.

Not only that, but BHP also cut its dividend by 40%, which has likely disappointed income investors.

Fellow ASX mining share Mineral Resources Ltd (ASX: MIN) is also up today by 3.9% to $85.04.

The Rio Tinto Limited (ASX: RIO) share price is also in the green, up 1.1% to $126.50.

BHP shares are down 0.75% to $48.10 apiece.

Goldman Sachs tips iron ore price rise to US$150 per tonne

As my Foolish colleague Tristan reported this morning, Goldman has a three-month iron ore price target of US$150 per tonne and a six-month target of US$135 per tonne.

That means the iron ore price could rise by almost 20% over the next three months.

The iron ore price increased overnight by 0.39% to US$127.50 per tonne, according to Trading Economics.

It’s down 2.67% year-over-year, and well off its all-time high of more than US$210 per tonne reached in June 2021. (No wonder the mining companies are paying reduced dividends in FY23 compared to FY22.)

Goldman says the iron ore price could rise because of an impending supply/demand imbalance.

This would be due to a seasonal boost in Chinese steel production during March and April and a “near-term” supply squeeze at the same time.

Changes in the iron ore price have a very direct effect on the Fortescue share price because the company is a pure play among the ASX iron ore shares.

Case in point: Both the iron ore price and the Fortescue share price have risen 3.66% over the past month.

The Fortescue share price is currently $23.26, up 2.97% at the time of writing.

The post Why has the Fortescue share price hit a new 52-week high today? appeared first on The Motley Fool Australia.

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More reading

• Goldman tips 20% surge in iron ore price. Should I buy ASX 200 mining shares?
• Passive income watch: 3 ASX 200 shares that slashed their dividends this week
• Should I buy Fortescue shares following the ASX 200 miner’s latest results?
• Here’s what you need to know about the latest Fortescue dividend
• Fortescue share price sinks amid 13% dividend cut

Motley Fool contributor Bronwyn Allen has positions in BHP Group and Fortescue Metals 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 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 Core Lithium Ltd (ASX: CXO) share price is charging higher today, up 5.11% in afternoon trading to 97 cents per share.

This comes after shares in the S&P/ASX 200 Index (ASX: XJO) lithium stock dropped 4.2% yesterday, closing at 92 cents per share.

So, what’s driving the rebound?

What are ASX 200 investors considering?

It’s not just the Core Lithium share price that’s widely outperforming the 0.3% loss posted by the ASX 200 so far today.

In fact, all of the ASX 200 lithium shares are well into the green.

Here’s how they’re tracking at the time of writing:

• Allkem Ltd (ASX: AKE) shares are up 2.26%
• Pilbara Minerals Ltd (ASX: PLS) shares are up 4.64%
• IGO Ltd (ASX: IGO) shares are up 2.59%
• Mineral Resources Ltd (ASX: MIN) shares are up 4.16%

With no price-sensitive news out today, the Core Lithium share price looks to be benefiting from a broader investor rethink about the outlook for lithium prices.

The battery-critical metal hit all-time highs in November but has fallen some 30% since then amid speculations of supply and demand imbalances.

Several prominent analysts, including those at Goldman Sachs, have been forecasting a looming supply and demand imbalance in 2023, which would drive the lithium price even lower. This has seen some investors lighten their holdings of ASX lithium stocks.

However, the quarterly results released last week by US lithium giant Albemarle Corporation (NYSE: ALB) suggest demand for lithium may prove more resilient than these bearish forecasts suggest. And that could usher in more tailwinds for the Core Lithium share price in the months ahead.

Albemarle posted a whopping 444% increase in its adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA), which came in at US$1.2 billion.

Net sales of US$2.6 billion were up 193%, buoyed by a 410% increase in lithium net sales of US$2.1 billion. Albemarle reported it received 328% higher pricing net of FX for lithium during the quarter, partly driven by increased market pricing.

For its full-year 2023 guidance, the company expects net sales to increase between 55% to 75% “primarily driven by market demand and continued favourable pricing for lithium”.

Albemarle also has a bullish outlook for EV production in China, the world’s top EV manufacturer. It expects China to produce approximately 2.5 million more EVs in 2023 than the nation did in 2022.

The company noted, “Chinese EV sales typically rebound following subsidy reductions and COVID lockdowns.”

With some 75% of the world’s consumption of lithium currently going into rechargeable batteries, that equates to some healthy demand growth. And it could indicate some more big days ahead for the Core Lithium share price.

Core Lithium share price snapshot

With today’s intraday gains factored in, the Core Lithium share price is up 22% over the past 12 months.

The post Why is the Core Lithium share price rebounding 5% on Tuesday? appeared first on The Motley Fool Australia.

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More reading

• At under 30 cents each, are these ASX lithium stocks cheap?
• Goldman tips 20% surge in iron ore price. Should I buy ASX 200 mining shares?
• Should I dig in and buy Pilbara Minerals shares before the ASX 200 lithium miner reports on Thursday?
• Here are the 3 most heavily traded ASX 200 shares on Monday
• 2 excellent ASX 200 mining shares to buy now: experts

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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