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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a small decline. At the time of writing, the benchmark index is down slightly to 7,489 points.

Four ASX share that are not letting that hold them back are listed below. Here’s why they are charging higher:

Block Inc (ASX: SQ2)

The Block share price is up almost 5% to $117.68. This follows a solid night of trade for the payments company’s NYSE listed shares on Friday. Investors were piling back into the tech sector on Wall Street, driving the Nasdaq index 1% higher.

Core Lithium Ltd (ASX: CXO)

The Core Lithium share price is up 5% to $1.19. This morning, this lithium developer released its quarterly update. Positively, management revealed that additional night shifts continued during the quarter to ensure that the construction of the dense media separation (DMS) plant remains on schedule for production of first spodumene concentrate in the first half of 2023.

Lynas Rare Earths Ltd (ASX: LYC)

The Lynas share price is up 4.5% to $9.50. Investors have been buying this rare earths producer’s shares following the release of its second quarter update. For the three months ended 31 December, Lynas reported a 42% quarter on quarter increase in sales revenue to $232.7 million.

Xero Limited (ASX: XRO)

The Xero share price is up 3% to $77.63. This may have been driven by a broker note out of Goldman Sachs this morning. Goldman has named Xero as its top pick in the tech sector and put it on its coveted conviction list with a buy rating and $109.00 price target. This implies potential upside of 40% for investors from current levels.

The post Why Block, Core Lithium, Lynas, and Xero shares are charging higher today appeared first on The Motley Fool Australia.

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More reading

• These are the 10 most shorted ASX shares
• Core Lithium share price marches higher as key quarterly milestones achieved
• Why Xero shares are Goldman’s top ASX 200 tech pick
• Lynas share price rises on 42% jump in sales revenue
• 5 things to watch on the ASX 200 on Monday

Motley Fool contributor James Mickleboro has positions in Xero. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Block and Xero. The Motley Fool Australia has positions in and has recommended Block and Xero. 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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Three ASX 300 shares are bouncing around today after the companies released their quarterly results.

For perspective, the S&P/ASX 300 Index (ASX: XKO) is just 0.02% in the green at the time of writing.

Let’s take a look at these three ASX 300 shares and what they reported in more detail.

Argosy Minerals Ltd (ASX: AGY)

Argosy Minerals shares have had a rollercoaster day so far, falling 1.5% near the open to lift 1.12% into positive territory before again sliding into the red. Shares in the company are currently trading 1.19% lower.

Today, the lithium explorer released its quarterly activities report. The company revealed it was in a sound financial position with about $36.6 million in cash reserves as at 31 December.

It outlined a major highlight: Completing 98% of development works at the 2,000 tonnes per annum lithium carbonate production operation at the Rincon Lithium project in Argentina. Argosy also progressed exploration works at the Tonopah Lithium Project in Nevada, USA.

The company reported lithium prices remained strong during the quarter and highlighted growing expectations that “supply will remain tight over 2023” and lithium prices will maintain at “their record highs”. Argosy added:

Significant growth in EV sales remains the most material driver for future lithium demand.

Argosy shares have exploded 105% higher in the last 12 months.

Strike Energy Ltd (ASX: STX)

Strike Energy shares are sliding a hefty 4.05% today. Strike revealed it has $9.7 million cash available at the end of the December quarter, down from $21.1 million in the last quarter.

A highlight during the quarter was the company’s progress in the Walyering gas field in EP447 towards production. Strike has a 55% interest in this project, with Talon Energy Limited (ASX: TPD) owing the remaining 45%. This venture has now been granted a production licence from the Western Australian Minister for Mines and Petroleum.

Strike also highlighted its takeover offer to acquire Warrego Energy Limited (ASX: WGO) was now open to Warrego shareholders.

Commenting on the results, Strike managing director and CEO Stuart Nicholls said:

The fourth quarter of calendar year 2022 was significant for Strike shareholders on a number of fronts. Firstly, and most importantly, the Company made substantial progress in its pursuit of becoming a gas producer by the end of Q1/23 at the Walyering gas field.

Strike shares have soared more than 67% in the last year.

Vulcan Energy Resources Ltd (ASX: VUL)

Vulcan is developing a zero-carbon lithium project for electric vehicle batteries. Today, Vulcan reported it was in a “strong financial position” with €134.1 million (A$204.87 million) cash on hand at the end of the December quarter.

Vulcan shares are down 0.48% at last look after sliding 2.9% in earlier trade.

During the quarter, Vulcan produced 6,350 MWh of gross baseload, renewable energy at Natür3 Lich Insheim in Germany, at an average selling price of €0.26/kWh. Vulcan said this was “helping Germany to respond to the energy and climate crises”.

Also during the quarter, the company revealed it was expanding its Zero Carbon Lithium business into France.

Commenting on today’s results, Vulcan managing director and CEO Dr Francis Wedin said:

The progress made during the last quarter of 2022 is testament to our rapidly growing team, who are working hard to execute on Phase One of our Zero Carbon Lithium Project, which aims to provide domestic lithium production for the auto industry, as well as renewable heating production on a larger scale for Europe, from 2025.

Vulcan Energy shares have slid 16% in the last year.

The post 3 ASX 300 shares on the move after quarterly updates appeared first on The Motley Fool Australia.

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More reading

• Brokers name 3 ASX shares to buy today
• 3 ASX lithium shares forecasting maiden production in 2023
• Which ASX lithium shares are producing and which are not in 2023?
• Buy these 2 ASX mining shares with over 30% upside: brokers
• Why Argosy Minerals, Block, Essential Metals, and Resolute shares are storming higher

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

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At the start of each week, I like to look at ASIC’s short position report to find out which shares are being targeted by short sellers.

This is because I believe it is well worth keeping a close eye on short interest levels as high levels can sometimes be a sign that something isn’t quite right with a company.

With that in mind, here are the 10 most shorted shares on the ASX this week according to ASIC:

• Flight Centre Travel Group Ltd (ASX: FLT) remains the most shorted ASX share by some distance after its short interest rose to 13.9%. This may have been driven by concerns over ongoing revenue margin pressures.
• Betmakers Technology Group Ltd (ASX: BET) has seen its short interest ease to 12.7%. Much to the delight of short sellers, this betting technology company’s shares are trading within a whisker of a 52-week low.
• Megaport Ltd (ASX: MP1) has seen its short interest ease to 9.8%. Short sellers will be disappointed to learn that the network as a service provider’s shares are up 20% so far this month.
• Sayona Mining Ltd (ASX: SYA) has 9.6% of its shares held short, which is down week on week. This appears to be due to concerns that lithium prices have peaked.
• Core Lithium Ltd (ASX: CXO) has short interest of 9.2%, which is down slightly since last week. Once again, short sellers appear to believe that Core Lithium could miss out on the sky high lithium prices being commanded today.
• Lake Resources N.L. (ASX: LKE) has 7.6% of its shares held short, which is flat week on week. J Capital’s short report reveals that it is targeting the lithium developer due to concerns over its technology and project funding.
• Liontown Resources Ltd (ASX: LTR) is yet another lithium share in the top ten with short interest of 7.3%. Concerns over lithium prices and project costs may be behind this. The latter could mean a capital raising is required in the near future.
• Breville Group Ltd (ASX: BRG) has seen its short interest ease to 7%. There are fears that demand for this appliance manufacturer’s production could soften notably this year.
• NextDC Ltd (ASX: NXT) has short interest of 6.8%, which is down week on week. Balance sheet concerns and Asian expansion uncertainty may be behind this.
• Pointsbet Holdings Ltd (ASX: PBH) has short interest of 6.8%, which is up slightly since last week. Short sellers don’t appear confident that this sports betting company will turn a profit any time soon due to intense competition and significant marketing costs.

The post These are the 10 most shorted ASX shares appeared first on The Motley Fool Australia.

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More reading

• 4 ASX All Ords shares insiders have been buying up in January
• Core Lithium share price marches higher as key quarterly milestones achieved
• Add some oomph to your portfolio with these ASX growth shares: analysts
• What’s with ASX 200 lithium shares today?
• Here are the 3 most heavily traded ASX 200 shares on Friday

Motley Fool contributor James Mickleboro has positions in Nextdc. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Betmakers Technology Group, Megaport, and PointsBet. The Motley Fool Australia has recommended Betmakers Technology Group, Flight Centre Travel Group, Megaport, and PointsBet. 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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Woolworths Group Ltd (ASX: WOW) shares have been garnering increased attention as Australian consumers face a year of high interest rates and continuing high inflation.

That combination is likely to put pressure on discretionary stocks as 2023 unfolds, while ASX consumer staples stocks should fare better. At the end of the day, we all need to eat and provide our households with the essentials.

As the operator of Australia’s iconic supermarket, the owner of Big W, and with a growing footprint in the pet food and care business, Woolworths is a leading S&P/ASX 200 Index (ASX: XJO) consumer staple stock.

And one that pays a fully franked, trailing dividend yield of 2.6%.

But with Woolworths shares up 6% since the opening bell on 3 January, is now a good time to buy…or not?

Is now the time to buy Woolworths shares?

A number of leading analysts believe Woolworths shares are a good buy right now.

Among them, Catapult Wealth portfolio manager Tim Haselum who recommends buying on any share price pullbacks.

Haselum cited Woolies’ “strong balance sheet” and the continuing decline in pandemic-related costs as positives for investors:

Several disruptions and abnormal costs during the past two years appear to be ending. We expect COVID-19 costs to continue falling…

The shares also appeal for their defensive qualities. Any price weakness represents a buying opportunity, in our view.

Another bullish outlook on Woolworths shares comes from Goldman Sachs.

The broker sounded a positive note on the strength of the retailer’s market position and its digital leadership. Its digital initiatives in particular could help Woolies increase its margins and market share in 2023 and the years ahead.

Goldman Sachs believes Woolworths will lift its dividend payouts in FY 2023 and FY 2024.

Its analysts forecast an FY23 dividend of $1.02 per share and an FY24 dividend payout of $1.13 per share. At the current share price of $34.85, that works out to a forecast yield of 2.9% in this financial year and a yield of 3.2% in the upcoming financial year.

Goldman has a price target of $41.70 on Woolworths shares, some 20% above the current price.

Or not?

However, not everyone is convinced now is the best time to buy Woolworths shares.

Senior investment adviser at Ord Minnett Tony Paterno said investors who already own shares may even want to think about cashing out for a profit.

According to Paterno (quoted by The Bull)

The supermarket giant has entered into an agreement to acquire a 55% equity interest in Petspiration Group, a specialty pet food, accessories and services retailer for $586 million. It builds on the company’s long-term strategic goal to offer an ecosystem for everyday needs.

We expect a challenging year for the grocery industry, as shoppers become ever more value conscious. Investors may want to consider taking a profit.

How have Woolworths shares been tracking longer-term?

As you can see in the chart below, Woolworths shares have had a bit of a wild ride over the past 12 months, up just over 1% for the full year. Over the past five years, the ASX 200 retailer has gained 49%.

The post Should I buy Woolworths shares for 2023 or not? appeared first on The Motley Fool Australia.

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More reading

• ASX 200 consumer staples shares raced higher to finish the day on top
• Why I think Woolworths shares aren’t worth the worry
• ‘Fierce competitor’: Expert names 2 big brand ASX shares ready to take off in 2023
• Did Woolworths just become 18% more valuable?
• Here are the top 10 ASX 200 shares today

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

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The Insurance Australia Group Ltd (ASX: IAG) share price is sliding on Monday, down 3.74% in early afternoon trade.

The S&P/ASX 200 Index (ASX: XJO) insurance stock closed on Friday trading for $5.08 per share and is currently trading for $4.89.

This comes as IAG cautioned that the financial impact of the storms and floods in and around Auckland, New Zealand is expected to rise as more impacted customers file additional claims.

What did the insurance company report?

The insurance giant operates the AMI, State and NZI brands in New Zealand.

And the IAG share price is under pressure after the company reported that, as of early this morning, it had already received more than 5,000 claims across the three brands. A number it said would likely increase as the event is still unfolding.

IAG’s CEO Nick Hawkins highlighted the company’s priority is the impacted customers.

“The tragic loss of life and the vision of the damage to Auckland is devastating,” he said. “Our Major Event Response team has been supporting customers since Friday night with temporary accommodation and other emergency support.”

With the full financial impact still unknown, IAG said it may need to review its estimate for natural peril costs for the 2023 financial year (FY23).

A combination of reinsurance arrangements leaves IAG with a maximum event retention cost of $236 million.

“We have a large team ready to help people with their claims and we will have our assessors on the ground in affected areas as soon as it is safe to do so,” Hawkins added.

IAG share price snapshot

Despite today’s retrace, the IAG share price remains up 3% in 2023.

And, as you can see in the chart below, IAG shares are up 15% over the past 12 months. That handily outpaces the 7% full-year gains posted by the ASX 200.

The post Why is the IAG share price tumbling 4% on Monday? appeared first on The Motley Fool Australia.

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More reading

• 2 Warren Buffett-style ASX dividend stocks for big income
• Goldman Sachs gives its verdict on the IAG share price
• Bought $1,000 of IAG shares 10 years ago? Here’s how much dividend income you’ve pocketed
• What do IAG shares have in common with Warren Buffett?
• Why Brainchip, IAG, Premier Investments, and Telix shares are sinking 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 positions in and has recommended Insurance Australia 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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There have been countless quarterly updates released on Monday. Some have been received well by investors, others less so.

Three that haven’t gone down particularly well with investors are summarised below. Here’s why these ASX All Ordinaries shares are falling:

Alcidion Group Ltd (ASX: ALC)

The Alcidion share price is down 3% to 15.5 cents. This healthcare technology company’s shares have come under pressure despite reporting strong sales figures during the second quarter. Alcidion reported new sales of $16.8 million, with $4.2 million to be recognised in FY 2023. This led to FY 2023 contracted revenue hitting $32.9 million, which is up 21% on the prior corresponding period. For the first half, Alcidion recorded cash receipts of $18.8 million, which is up 15% year over year.

Electro Optic Systems Holdings Ltd (ASX: EOS)

The EOS share price is down over 7% to 64 cents. This follows the release of the technology company’s fourth quarter and full year update. Unfortunately, EOS revealed that some sales opportunities that were previously expected to be signed and commence delivering revenue in the second half of 2022 have been delayed by customers. And while receipts from customers came to almost $41 million, the company still posted an operating cash outflow of $13.9 million for the quarter. This left EOS with a cash and equivalents balance of $21.75 million.

Whispir Ltd (ASX: WSP)

The Whispir share price is down 5% to 48.5 cents. Investors have been selling this communications management systems provider’s shares after it reported a 9% year over year decline in cash receipts to $14.84 million during the second quarter. Though, it is worth noting that the prior corresponding period included COVID-19 vaccine rollout related revenues. Whispir ended the period with total cash and equivalents of $9.5 million, which it estimates to be 1.7 quarters of funding.

The post 3 ASX All Ordinaries shares getting hammered on quarterly updates appeared first on The Motley Fool Australia.

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More reading

• 2 ASX shares exploding over 17% on strong updates
• 4 ASX 200 shares hitting new 52-week highs on Monday
• ResMed share price sinks 7%: Is this a buying opportunity?
• 4 ASX All Ords shares insiders have been buying up in January
• Is the ANZ share price cheap right now?

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 Alcidion Group, Electro Optic Systems, and Whispir. The Motley Fool Australia has recommended Alcidion Group and Whispir. 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 bit of a lacklustre start to the trading week for ASX shares so far this Monday. At the time of writing, the ASX All Ordinaries Index (ASX: XAO) has dropped into the red, currently down by 0.12% at 7,700 points after what was an initially positive morning for the share market.

But just because the share market is having a down day doesn’t mean all ASX shares are following suit. In fact, there are two ASX shares that have shot up more than 17% today after some strong updates.

2 ASX shares rocketing 17% or more today

EVZ Ltd (ASX: EVZ)

ASX engineering services share EVZ is our first company that has seen a galloping share price this Monday. EVZ shares are currently up a whopping 17.65% to 20 cents per share after closing at 17 cents last Friday.

This comes after the company posted a well-received quarterly activities report this morning.

For the three months to 31 December 2022, EVZ announced cash receipts worth $32 million. That was a massive 216% increase over the previous corresponding period. The company also forecast that “additional new contract wins position the group for further growth during FY2023 and beyond”.

No wonder investors have been so excited today. EVZ shares are now up 15% over the past 12 months.

Camplify Holdings Ltd (ASX: CHL)

Another ASX All Ords share booming today is Camplify. Shares in Camplify are up an extraordinary 22.86% right now to $2.20 a share after the company closed at $1.75 a share on Friday.

This digital vehicle matching services provider has also just posted a quarterly update covering the three months to 31 December 2022. Camplify has declared a gross transaction volumes figure of $24.7 million for the quarter, a rise of almost 110% over the previous corresponding quarter.

Revenue came in at $6.6 million, which was 63.8% above the same quarter last year. The company recorded $31.2 million in future bookings over the quarter, a 270% increase on last year’s numbers. Further, Camplify reported that its New Zealand expansion plans were going swimmingly, with New Zealand gross transactional volumes rising by 1,040%.

Clearly, investors have been impressed with what the company had to say today.

The post 2 ASX shares exploding over 17% on strong updates appeared first on The Motley Fool Australia.

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More reading

• 3 ASX All Ordinaries shares getting hammered on quarterly updates
• 4 ASX 200 shares hitting new 52-week highs on Monday
• ResMed share price sinks 7%: Is this a buying opportunity?
• 4 ASX All Ords shares insiders have been buying up in January
• Is the ANZ share price cheap right now?

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 Camplify. 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://www.fool.com.au/2023/01/30/2-asx-shares-exploding-over-17-on-strong-updates/

If you’re feeling a bit off on Monday, you’re not alone. Many shares are also having a relatively tedious day, with the S&P/ASX 200 Index (ASX: XJO) trading 0.16% lower than it was at Friday’s close.

Fortunately, that hasn’t stopped some overachievers from outperforming. Four ASX 200 shares have posted new 52-week highs this morning.

Here is all you need to know about the quartet trading at long-forgotten heights today.

4 ASX 200 shares posting new 52-week highs

Making the first notable jump this morning is the Pro Medicus Limited (ASX: PME) share price. The ASX 200 health imaging provider’s stock rose 2% today to a new 52-week high of $66.42.

The gain came as the company announced a new 8-year $12 million deal with US community-based, integrated delivery network (IDN) Samaritan Health Service.

The deal will see Pro Medicus’ Visage 7 Enterprise Imaging Platform replacing legacy systems across Samaritan’s network.

Pro Medicus CEO Dr Sam Hupert commented on the news, saying:

IDNs are the largest market segment in North America, and this is our fifth material IDN contract in the last 12 months.

Joining Pro Medicus’ shares in posting a new 52-week high today are those of Treasury Wine Estates Ltd (ASX: TWE).

The ASX 200 wine company’s stock peaked at $14.47 earlier today. That marked a 0.5% gain and a new post-pandemic high.

Interestingly, there’s been no news from the company lately. Though, it has been tipped to benefit from an apparent easing of tensions between Australia and China.

Also in on the action is the TechnologyOne Ltd (ASX: TNE) share price.

It rose nearly 2.2% this morning to reach $15.14 – a new all-time high.

The stock dodged the carnage that plagued the S&P/ASX 200 Information Technology Index (ASX: XIJ) in 2022 and has made the most of the sector’s 2023 gains.

It’s already risen 15% year to date.

And last but not least is Karoon Energy Ltd (ASX: KAR).

The ASX 200 oil and gas exploration company’s shares lifted 1.2% to hit a multiyear-high of $2.45 this morning before slipping into the red.

Today’s slump follows a 12% gain posted by the stock over the course of last week amid the release of its December quarterly report.

The post 4 ASX 200 shares hitting new 52-week highs on Monday appeared first on The Motley Fool Australia.

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More reading

• Two ASX sectors to buy right now (and two to avoid like the plague): fundie
• ASX 200 consumer staples shares raced higher to finish the day on top
• Experts say these are the ASX 200 blue chip shares to buy now
• These ASX 200 tech shares are leading the market today
• 3 ASX shares to cash in on China’s reopening to the world: Jun Bei Liu

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 Pro Medicus. The Motley Fool Australia has positions in and has recommended Pro Medicus. The Motley Fool Australia has recommended Technology One and Treasury Wine Estates. 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 ResMed Inc (ASX: RMD) share price has started the week deep in the red.

At the time of writing, the sleep treatment focused medical device company’s shares are down 7% to $31.25.

Why is the ResMed share price sinking?

On Friday, the ResMed share price rose 2% following the release of the company’s quarterly update.

Unfortunately, US investors didn’t respond anywhere near as positively, leading to the company’s NYSE listed shares falling by approximately 3.5% on Friday night.

So, with each ResMed share equal to one-tenth of its NYSE shares, they have given back Friday’s gains and some more today to reflect this.

Is this a buying opportunity?

A number of brokers are likely to see the weakness in the ResMed share price as a buying opportunity.

For example, this morning Morgans has reiterated its add rating with an improved price target of $37.24. It was pleased with its stronger than expected second quarter performance. Morgans commented:

2Q was ahead of market expectations, with robust sales across all product lines, but with GM headwinds limiting robust operating leverage.

Elsewhere, Goldman Sachs has retained its buy rating with an improved price target of $38.00. The broker was also pleased with its performance and remains positive on its outlook. It said:

Steady improvements in diagnosis rates and supply chain could widen opportunity for share gains.

Finally, over at Citi, its analysts have held firm with their buy rating and lifted their price target to $39.00. Citi notes that industry conditions are improving and are favourable for ResMed. The broker commented:

The supply chain situation is improving for RMD and the competitive dynamic remains in its favour.

Based on the current ResMed share price, these price targets imply potential upside of 19% to 25% for investors over the next 12 months.

The post ResMed share price sinks 7%: Is this a buying opportunity? appeared first on The Motley Fool Australia.

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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 ResMed. The Motley Fool Australia has positions in and has recommended ResMed. 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 investors love to see the insiders of a company they own shares of putting their money where their mouths are and buying shares of the companies they are running. After all, the ultimate job of a company insider is to lead their company to prosperity. And long-term prosperity usually means higher share prices over time. 

So let’s look at four ASX All Ords shares that insiders have been buying up this January.

4 ASX All Ords shares that insiders have been buying up in 2023

Liontown Resources Ltd (ASX: LTR)

First up today is ASX lithium share Liontown Resources. As we covered a few days ago, Liontown chair Tim Goyder made a big investment in the company he runs earlier this month.

Goyder picked up a cool million shares at a cost of $1.5 million back on 20 January. The shares traded in a range of $1.375 and $1.465 on that day. This indicates that Goyder is sitting on a tidy profit today, given the shares are currently going for $1.64 at the time of writing.

New Hope Corporation Limited (ASX: NHC)

ASX coal miner New Hope is next up. This energy share has had one of the best runs on the All Ords over the past year or so, up more than 160% since January 2022. One insider thanking their lucky stars would be non-executive director, Jacqueline McGill.

McGill bought more than 10,000 shares of the company back on 6 January for $5.88 each, costing the director almost $59,000. This comes after McGill also bought 20,000 shares back in June last year for $3.66 each.

Today New Hope is asking $5.98 a share, meaning McGill would be a very happy camper indeed.

Andromeda Metals Ltd (ASX: ADN)

Our third ASX All Ords share worth taking a look at is the copper and gold explorer Andromeda Metals. More than one Andromeda insider has been putting money where their mouths are this month. Firstly, independent non-executive chair Michael Wilkes. Wilkes acquired 1.06 million new shares in Andromeda over 10-11 January, costing the director close to $53,000. This implies a buy price of around 5 cents per share.

But we also had managing director James Marsh pick up just over 1.9 million new shares over 13-16 January. This transaction was worth around $110,000, implying a buy price of just over 5.8 cents per share.

Andromeda non-executive director Melissa Holzberger didn’t want to miss out either. Holzberger netted another 384,615 shares on 16 January, for a cost of $24,615. That implies a cost per share of 6.2 cents.

So on today’s current Andromeda Metals share price of 5.6 cents per share, Wilkes would certainly be doing the best out of all of these recent insider purchases.

Race Oncology Ltd (ASX: RAC)

Finally today, we have ASX All Ords healthcare share Race Oncology. As we covered earlier this month, executive director and chief science officer Dr Daniel Tillett spent January buying up shares in the company. Tillett bought an additional 25,550 shares in Race over 11-13 January, at a total cost of $50,223.

That implies an average purchase price of $1.966 per share. In the days after this buy, Race shares went as high as $2.07, but the company is trading at $1.95 per share today.

The post 4 ASX All Ords shares insiders have been buying up in January appeared first on The Motley Fool Australia.

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More reading

• With a 30% forecast yield, is this dividend stock the biggest bargain on the ASX 200?
• Why did ASX 200 coal share New Hope Corporation sink 9% today?
• Here are the 3 most heavily traded ASX 200 shares on Friday
• Why Liontown, Megaport, Origin, and Tyro shares are pushing higher today
• Which ASX lithium share executive just invested $1.5 million in his company?

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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