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Most companies inside the S&P/ASX 200 Index (ASX: XJO) can attest to paying dividends to some extent. However, when I’m on the hunt for dividend gems, I’m looking for ASX shares that are rapidly growing their dividends.

It is often companies with a low dividend yield that are overlooked. But, when a low yield is combined with a blistering high rate of dividend growth, the long-term outcome can be shockingly good.

A yield of as little as 1% can become 6% equivalent over 10 years — assuming the same share price — if it increases by 20% each year.

That’s why I’d be taking a close look at this not-so-secret ASX tech share…

ASX 200 dividend aristocrat in the making

Many will be familiar with the circuit board design software provider Altium Limited (ASX: ALU). The ASX tech share came to prominence during the heyday of Australia’s ‘WAAAX‘ shares. Though, few probably appreciate the dividend component of this mighty company.

At a paltry 1.2% dividend yield, Altium isn’t touting a bank-beating income profile. However, yield is only one aspect that could lead investors astray. Instead, I’d focus on the fact that this company has grown its dividend for 10 years straight, as shown below.

Not only has Altium simply grown its dividends… it has significantly grown its dividends. When looking at the ASX 200 shares that have delivered a 10-year compound annual growth rate (CAGR) on their dividends per share greater than 20%, Altium is one of only 10 companies that meet the high bar.

Unlike other companies that fall into this bucket — such as South32 Ltd (ASX: S32), Fortescue Metals Group Limited (ASX: FMG), and Northern Star Resources Ltd (ASX: NST) — Altium isn’t exposed to the extremely cyclical resource industry.

If Altium were to continue this trend for 15 more years, the ASX 200 share could potentially join a select group known as ‘dividend aristocrats’.

Look for continued growth

Altium is expected to release its first-half results for FY23 on 20 February. It will be important to see that the company is continuing to deliver on its growth ambitions. The ultimate target is US$500 million in revenue by 2026.

If the company can hit these milestones, I suspect Altium could become a highly prized ASX 200 dividend share.

The post Could this ASX 200 share be a dividend gem hiding in plain sight? appeared first on The Motley Fool Australia.

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More reading

• Here are the 3 most heavily traded ASX 200 shares on Wednesday
• Investing in ASX 200 copper shares? Here’s the outlook for the red metal in 2023
• Does the Vanguard Australian Shares ETF’s unique structure deliver better returns than the ASX 200?
• Did you buy $1,000 of Bank of Queensland shares 10 years ago? Here’s how much dividend income you’ve made
• 10 types of ASX companies that can grow even if the economy tanks

Motley Fool contributor Mitchell Lawler 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 Altium. 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) traded in the red for just the fourth time this year today, falling 0.3% to close at 7,468.3 points.

And no prizes to those who can guess why. Market experts were shocked by the latest Australian inflation data, released late this morning.

The Australian Bureau of Statistics (ABS) found the Consumer Price Index (CPI) rose 1.9% in the December quarter and  7.8% over the course of 2022. Those figures were notably higher than consensus forecasts of 1.6% and 7.6%, respectively.

The likelihood the Reserve Bank of Australia could begin easing rates next month likely diminished on the findings, thereby disappointing investors.

On a more positive note, the S&P/ASX 200 Financials Index (ASX: XFJ) outperformed despite the inflation read today. It gained 0.3%.

Interestingly, the S&P/ASX 200 Consumer Discretionary Index (ASX: XDJ) also gained, rising 0.4%, while the S&P/ASX 200 Utilities Index (ASX: XUJ) led the market, lifting 0.5%.

Meanwhile, the rates-sensitive S&P/ASX 200 Information Technology Index (ASX: XIJ) fell 1.2% and the S&P/ASX 200 Energy Index (ASX: XEJ) dropped 1.2%.

But enough of that. Let’s take a look at the 10 shares that posted the ASX 200’s biggest gains on Wednesday.

Top 10 ASX 200 shares countdown

Today’s top performing share on the index was News Corp (ASX: NWS).

The stock jumped 6% to close at $29.93 after the company revealed it won’t be merging with Fox Corporation and confirmed it’s in talks to sell its Move, Inc business.

These shares made today’s biggest gains:

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

• Why Accent, Iluka, Myer, and QBE shares are charging higher today
• 3 ASX 200 resources shares on the move following quarterly updates
• 5 ASX 200 shares rocketing to new 52-week highs on Tuesday
• Up 30% in six months: Can the Webjet share price fly even higher?
• Which ASX dividend shares I’d buy now to target $50,000 of annual passive income

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 ARB Corporation and Lovisa. The Motley Fool Australia has recommended ARB Corporation, Corporate Travel Management, IPH, and Lovisa. 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 BHP Group Ltd (ASX: BHP) share price is up a stellar 8.2% since the closing bell on 30 December.

That’s despite today’s 0.6% retrace following the hotter-than-expected CPI numbers just released by the ABS.

The S&P/ASX 200 Index (ASX: XJO) iron ore giant is currently trading for $49.37. The BHP share price, as you can see in the chart below, closed out 2022 at $45.63.

Is it too late to buy?

With those kinds of gains already in the bag so early in 2023, is it too late to buy BHP shares?

The answer to that question largely relies on what happens with iron ore prices (the miner’s top revenue earner) and copper prices (its number two revenue earner) over the coming months.

The BHP share price has already benefited from a big lift in the price of both metals in 2023.

Iron ore was trading for US$118 per tonne at beginning of the calendar year and is currently fetching US$125 per tonne, up 6%.

The copper price has gained even more, lifting 12% since 30 December to currently trade for US$9,315 per tonne.

And while no one has a working crystal ball, most analysts are tipping significant further gains for both industrial metals over the year ahead.

Iron ore could gain from increased demand out of China, as the world’s most populous nation reopens following three years of pandemic lockdowns.

Copper could also benefit from China’s reopening, while demand for the red metal is expected to continue to run high for its critical role in the world’s transition towards electrification.

Both of these aspects would suggest it’s not too late to buy, even after the big BHP share price rally.

On the copper front, Goldman Sachs head of commodities research Jeff Currie believes that in the “longer-term” the copper price will reach US$15,000 per tonne.

Citing “a structural imbalance in these markets”, Currie said “You are likely to see peak copper supply in 2024.”

As for iron ore, Morgan Stanley commodities strategist Marius van Straaten notes the commodity rally coming ahead of China’s reopening is largely built on hype rather than actual increases in steel production.

According to van Straaten (quoted by The Australian Financial Review):

The previous nine bull markets we looked at were all underpinned by either periods of expanding China steel production or tightening supply from the iron ore majors.

While China’s steel mills have been restocking ore recently, this is basically the first serious bull market that is mostly driven by sentiment/optimism, rather than an actual physically tightening market.

Despite the current speculative-driven nature of the price increases, van Straaten sees iron ore trading for US$140 in the June quarter. That represents a 12% increase from today’s levels and would certainly offer some helpful tailwinds for the BHP share price.

What else could boost the BHP share price in 2023?

Atop potentially rising iron ore and copper prices, the BHP share price could receive a boost should the miner’s $28.25 per share (approximately $9.6 billion) cash takeover proposal of ASX 200 copper stock OZ Minerals Limited (ASX: OZL) go through.

The Oz Minerals board has unanimously recommended shareholders approve the acquisition. Shareholders are expected to vote on the proposal in late March or early April.

And let’s not forget the juicy, fully franked dividends on offer.

At the current share price, BHP pays a 9.4% trailing dividend yield. That will place the big miner high on the radar of income investors, increasing the demand for (and potentially the price of) its shares in 2023.

The post The BHP share price has had a stellar start to 2023. Is it too late to buy? appeared first on The Motley Fool Australia.

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More reading

• Investing in ASX 200 copper shares? Here’s the outlook for the red metal in 2023
• Does the Vanguard Australian Shares ETF’s unique structure deliver better returns than the ASX 200?
• Move over bank deposits! These ASX 200 mining shares are forecasting yields of over 5%
• BHP share price lifts amid copper deal
• Looking to energise returns with this pocket of undervalued ASX shares in 2023

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

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When one of the biggest operators in an industry speaks, it’s usually worth listening. Investors of ASX lithium shares had the chance to get the latest pulse reading from US-based Albemarle Corporation (NYSE: ALB) last night, and the outlook is rather rosy.

Today, the S&P/ASX 200 Index (ASX: XJO) is lingering 0.11% lower following the release of surprisingly high inflation data. Despite this, several Aussie companies involved in producing the electrifying material are in the green.

Driving a positive outlook for lithium

For some background, Albemarle is one of the largest suppliers of battery-grade lithium in the world. The company not only produces lithium but also processes it.

In the September 2022 ending quarter, Albermarle achieved US$1.5 billion in net lithium sales. In comparison, Pilbara Minerals Ltd (ASX: PLS) recorded $1.19 billion in revenue across the entire 2022 financial year.

Last night, Albermarle provided updated estimates for the future of lithium in its 2023 strategic update. The most eye-catching metric was a 15% increase in the company’s lithium demand forecast for 2030, primarily due to higher expected electric vehicle (EV) adoption.

As such, management is now forecasting a total of 3.7 million metric tonnes worth of lithium demand in 2030 — giving ASX lithium shares something to cheer about. This is based on the assumption that annual EV production will reach 46.9 million by that point in time, equating to a 48% market penetration of light-duty vehicles.

Albemarle energy storage president Eric Norris described the catalyst for increased demand, stating:

We expect to continue to see increased EV adoption with charging speed and range improvements; more access to charging infrastructure; and changing consumer preferences. In response, auto OEMs are setting ambitious electrification goals and making large investments in EV production.

How are ASX lithium shares are responding?

The peachy outlook painted by Albermarle’s management could be supporting the prices of Aussie lithium companies today. Greater demand for lithium could mean higher prices for longer, promoting strong ASX lithium share prices today, including:

• Vulcan Energy Resources Ltd (ASX: VUL) up 0.73%
• Galan Lithium Ltd (ASX: GLN) up 0.81%
• Neometals Ltd (ASX: NMT) up 3.07%
• Sayona Mining Ltd (ASX: SYA) up 2.78%

At the larger end of town, Mineral Resources Ltd (ASX: MIN) is struggling on Wednesday despite releasing its quarterly report. Shares in the lithium and iron ore miner are down 1.42% this afternoon with iron ore shipments weighing on shareholder sentiment.

The post Lithium giant forecasts 15% greater demand. How are ASX lithium shares reacting? appeared first on The Motley Fool Australia.

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More reading

• Here are the 3 most heavily traded ASX 200 shares on Wednesday
• Guess which four ASX 200 lithium shares charged higher today
• Here are the top 10 ASX 200 shares today
• Here are the 3 most heavily traded ASX 200 shares on Tuesday
• Analyst says Pilbara Minerals share price can keep rising

Motley Fool contributor Mitchell Lawler has positions in Albemarle. 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 pretty poor showing this Wednesday thus far. After what was mostly a positive morning, the ASX 200 tanked when the latest inflation figures were released just before lunchtime.

The Index has since recovered somewhat from the worst of these falls but remains down by 0.12% at the time of writing at just over 7,480 points. 

But rather than worrying about all of that, let’s instead take a look at the ASX 200 shares currently topping the share market’s trading volume charts, according to investing.com.

The 3 most traded ASX 200 shares by volume this Wednesday

Evolution Mining Ltd (ASX: EVN)

The first share worth taking a gander at today is the ASX 200 gold miner Evolution Mining. A sizeable 14.95 million Evolution shares have swapped hands as it currently stands on the markets thus far. This looks like a consequence of the nasty share price fall Evolution has endured this Wednesday.

After a strong opening this morning, Evolution shares have been falling steadily ever since. The miner is currently down by a depressing 5.72% to $3.22 a share, which probably explains the high volumes we are seeing. This could have been caused by some tough love from ASX broker Ord Minnet, who wasn’t impressed with the company’s latest production figures.

Core Lithium Ltd (ASX: CXO)

Next in line this Wednesday is ASX 200 lithium stock Core Lithium. So far today, a notable 15.24 million Core Lithium shares have made their way to a new owner. There hasn’t been much fresh news out surrounding Core Lithium.

So perhaps this elevated volume is a consequence of the share price volatility we have seen with Core Lithium shares this session. The company is currently up by 0.9% at $1.12 a share. But the trading day has seen Core Lithium bounce between $1.08 and $1.14 with stints in both positive and negative territory.

Pilbara Minerals Ltd (ASX: PLS)

Once again, ASX 200 lithium share Pilbara Minerals is our most heavily traded of the day thus far. Right now, Pilbara has seen a hefty 24.91 million of its shares find a new owner on the share market.

This looks like a similar situation to that of Core Lithium. Pilbara shares have been mightly volatile this Wednesday. The company is currently flat at $5.08 a share. But earlier, we saw Pilbara shoot as high as $5.15 and drop as low as $5.02. No wonder so many shares have flown around the markets.

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

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More reading

• Lithium giant forecasts 15% greater demand. How are ASX lithium shares reacting?
• Investing in ASX 200 copper shares? Here’s the outlook for the red metal in 2023
• Why Best & Less, Evolution, Mineral Resources, and St Barbara shares are dropping
• Does the Vanguard Australian Shares ETF’s unique structure deliver better returns than the ASX 200?
• Did you buy $1,000 of Bank of Queensland shares 10 years ago? Here’s how much dividend income you’ve made

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

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If you like ASX growth shares and buy and hold investing, then you may want to read on.

That’s because listed below are two ASX shares that have been tipped to grow very strongly over the long term. Here’s what you need to know about these buy-rated growth shares:

Domino’s Pizza Enterprises Ltd (ASX: DMP)

The first ASX growth share that has been tipped as a buy is this pizza chain operator.

Its shares were sold off in 2022 amid concerns over inflationary pressures on both its costs and consumer spending.

And while they have rebounded strongly in recent months, they are still down materially since this time last year. This could be a buying opportunity according to analysts at Morgans.

The broker believes that Domino’s is “a high quality operator with significant brand strength, first class executive management and a global platform for long-term network expansion.” It also believes that “now is the best time to consider an investment in a quality business like DMP that is facing headwinds that will reverse in time.”

Morgans currently has an add rating and $90.00 price target on its shares, which implies potential upside of 24%.

Life360 Inc (ASX: 360)

Another ASX growth share that could be in the buy zone after a difficult time in 2022 is Life360.

It is a growing location technology company that has almost 50 million global active users of its eponymous Life360 mobile app. From these users, the company expects to generate revenue in the range of US$225 million to US$240 million in FY 2022.

The good news is that this is still only a fraction of its market opportunity. For example, Goldman Sachs estimates that “Life360 is exposed to a US$12bn global TAM with a large opportunity to expand its product suite, grow average revenue per paying circle (ARPPC), increase payer conversion, and lift penetration rates outside of the US.”

The broker also believes “Life360 is approaching an inflection point as it proves the pricing power of its subscription business model and moves out of the non-profitable tech basket.” It feels this could be supportive of a re-rating in the near future.

Goldman has a buy rating and $7.90 price target on Life360’s shares, which implies potential upside of 38% for investors from current levels.

The post Buy and hold these fantastic ASX growth shares: experts appeared first on The Motley Fool Australia.

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More reading

• The ASX 200 share that could thrive in a recession: Scott Phillips
• My top predictions for ASX All Ords shares in 2023
• 2 excellent ASX passive income shares to buy next week: analysts
• These ASX growth shares have massive global opportunities: Goldman Sachs
• How to prepare your portfolio for the ‘old normal’: Scott Phillips

Motley Fool contributor James Mickleboro has positions in Domino’s Pizza Enterprises and Life360. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Domino’s Pizza Enterprises and Life360. The Motley Fool Australia has recommended Domino’s Pizza Enterprises. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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If you’re looking for dividend shares to buy, then the two listed below could be worth a look.

Both have been named as buys by analysts recently and tipped to provide attractive and growing yields. Here’s what you need to know about them:

Universal Store Holdings Ltd (ASX: UNI)

The first ASX dividend share to consider is Universal Store. It is a growing youth fashion retailer behind the Universal Store and Thrills brands.

Goldman Sachs is very positive on the company. Particularly given its exposure to younger consumers, which the broker expects to continue spending in 2023. This is due to their lack of exposure to rising interest rates and an increase in the minimum wage.

Goldman Sachs has a buy rating and $7.30 price target on its shares. The broker commented:

In addition to a strong outlook for Gen-Z spending, we see an opportunity for ongoing store roll-out for UNI which is the market leader in youth multi-brand apparel. Relative to youth footwear, the youth apparel category is under-penetrated in terms of store footprint; we forecast an additional 22 Universal stores will be rolled out in the next three years.

As for dividends, the broker is expecting fully franked dividends of 26.1 cents in FY 2023 and 29.9 cents in FY 2024. Based on the latest Universal Store share price of $5.81, this equates to yields of 4.5% and 5.1%, respectively.

Wesfarmers Ltd (ASX: WES)

Another ASX dividend share to consider is Bunnings, Kmart, and Officeworks owner (among others), Wesfarmers.

Morgans is a fan of this conglomerate and believes it could be a top option in the current environment. It has an add rating and $55.60 price target on Wesfarmers’ shares.

The broker believes Wesfarmers’ shares are attractively priced at the current level. It said:

Trading on 22.5x FY23F PE and 3.8% [now 3.7%] yield, we continue to see WES’s valuation as attractive for a high-quality business with a diversified group of retail and industrial brands, solid balance sheet and strong leadership team that will continue delivering long-term value for shareholders.

In respect to dividends, the broker is forecasting fully franked dividends per share of $1.82 in FY 2023 and $1.89 in FY 2024. Based on the current Wesfarmers share price of $49.22, this will mean yields of 3.7% and 3.8%, respectively.

The post Analysts say these growing ASX dividend shares are buys right now appeared first on The Motley Fool Australia.

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More reading

• Forget gold! ASX 200 blue-chip shares could be the new safe-haven asset
• Top brokers name 3 ASX shares to buy today
• How much profit could Wesfarmers shares make in 2023?
• Does Telstra sell bonds to ASX retail investors?
• Which ASX dividend shares I’d buy now to target $50,000 of annual passive income

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 Wesfarmers. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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When it comes to safe-haven assets, investors often think of gold as king. But the yellow metal comes with an opportunity cost.

That’s why I think S&P/ASX 200 Index (ASX: XJO) blue-chip shares could be a better safety net. Let’s explore.

What is a safe-haven asset?

A safe-haven asset is typically an investment that offers respite from market volatility. No doubt, then, plenty of investors have considered snapping up one or two in recent times.

The ASX 200 had a rollercoaster ride in 2022, ultimately ending the year 5% lower than it started. Looking further back, the index crashed in 2020 before roaring to a new all-time record high in mid-2021. If your stomach had been lurching through that time, you’re not alone.

Indeed, investor moves to protect hard-earned cash may have helped drive the price of gold higher in recent months. The metal is trading at US$1,936.30 an ounce today, as per CNBC. That’s around its highest point since April 2022.

But, while investing in gold might bring fewer risks than buying some stocks, it generally doesn’t provide the growth ASX 200 shares can. Nor does it pay dividends.

Fortunately, there is a middle ground for risk-averse investors. And that is ASX 200 blue-chip shares.

Why are blue-chip shares a ‘safer’ buy?

Blue-chip shares tend to offer sturdy balance sheets, competitive advantages, and greater brand recognition than their peers. They are also often industry leaders with a long track record of strong performance.

Such characteristics generally mean they can push through hard times without as much damage as, say, growth shares might experience. They can also provide capital growth and dividends, both of which can act as an inflation hedge.

Thus, they can provide a safe haven from much of the market’s volatility. Though, no investment can be guaranteed to provide either growth or downside protection.

Market watchers will likely recognise such blue-chip shares as investment banking giant Macquarie Group Ltd (ASX: MQG), big four bank Westpac Banking Corp (ASX: WBC), and conglomerate behind such retailers as Bunnings and Kmart, Wesfarmers Ltd (ASX: WES).

They each demonstrate many of the qualities of blue-chips and boast valuations of between $56 billion and $83 billion.

Why not both?

But why can’t a risk-averse investor have both? Of course, one can always hold both ASX 200 blue chips and gold.

They can also invest in the gold mining giant Newcrest Mining Ltd (ASX: NCM). Newcrest boasts a $20.5 billion market capitalisation and tends to rise and fall alongside the price of the yellow metal since its earnings are tied to the commodity.

The post Forget gold! ASX 200 blue-chip shares could be the new safe-haven asset appeared first on The Motley Fool Australia.

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More reading

• How much profit could Wesfarmers shares make in 2023?
• 5 things to watch on the ASX 200 on Wednesday
• Does Telstra sell bonds to ASX retail investors?
• Everything you need to know about Wednesday’s Australian inflation data release
• How much profit could Westpac shares make in 2023?

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

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The S&P/ASX 200 Index (ASX: XJO) has come under pressure on Wednesday after a higher than expected inflation reading. In afternoon trade, the benchmark index is down 0.2% to 7,476.2 points.

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

Accent Group Ltd (ASX: AX1)

The Accent share price is up 9% to $2.09. This follows the release of a strong trading update from the footwear retailer this morning. Accent revealed that total sales for the first half were up 33% over the prior corresponding period to $825 million. This is expected to lead to half year earnings before interest and tax (EBIT) in the range of $90 million to $92 million, up from $30.3 million a year earlier.

Iluka Resources Limited (ASX: ILU)

The Iluka share price is up 2.5% to $11.03. Investors have been buying this mineral sands producer’s shares following the release of its fourth quarter and full year update. Iluka reported production of 157,000 tonnes for the fourth quarter, taking its full year production to 679,400 tonnes. And while its production and sales volumes were both lower year over year, stronger prices led to revenue growing 16.3% to $1,727.4 million.

Myer Holdings Ltd (ASX: MYR)

The Myer share price is up a further 5% to 94.2 cents. Investors have been buying this department store operator’s shares following the release of a trading update this week. Myer revealed that for the five months to December 31, it delivered total sales growth of 24.8%. Management expects this to lead to the company reporting a first half profit of $61 million to $66 million. The latter will be double last year’s half year profit.

QBE Insurance Group Ltd (ASX: QBE)

The QBE share price is up almost 1.5% to $13.78. This appears to have been driven by a bullish broker note out of Goldman Sachs this morning. Goldman has named the company as its top pick in the insurance sector and has initiated coverage with a buy rating and $16.67 price target. It believes QBE’s shares are trading at an attractive level compared to historical levels, particularly given its strong capital position and improving outlook.

The post Why Accent, Iluka, Myer, and QBE shares are charging higher today appeared first on The Motley Fool Australia.

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More reading

• Consumer spending defies logic as inflation rages higher, locking in yet another interest rate hike in February
• 3 ASX 200 resources shares on the move following quarterly updates
• Accent Group share price jumps 11% on strong sales update
• 7 reasons to buy QBE shares: Goldman Sachs
• Why Block, Codan, Latin Resources, and Myer shares are storming higher

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 recommended Accent Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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S&P/ASX 200 Index (ASX: XJO) copper shares could be in for some healthy tailwinds in 2023 as the price of the red metal is widely tipped to keep marching higher. 

That would certainly be good news for investors in blue-chip copper stocks like Sandfire Resources Ltd (ASX: SFR) and Oz Minerals Ltd (ASX: OZL).

What’s happening with the copper price?

The copper price topped US$10,600 in March last year before sliding to lows of US$7,200 in July as soaring inflation and rising interest rates temporarily took the shine off the industrial metal.

2023 has seen the copper price march steadily higher, helping lift the prospects of ASX 200 copper shares.

Year-to-date copper has gained more than 12%, currently trading for US$9,315 per tonne.

That’s helped propel the Sandfire Resources share price to a 20% gain so far in 2023.

Oz Minerals is a bit of a different story, due to the ongoing takeover process with BHP Group Ltd (ASX: BHP).

With BHP seeking to acquire Oz Minerals via a scheme of arrangement for a cash price of $28.25 per share, the ASX 200 copper share has been trading in a fairly narrow band over the past weeks.

Forecast outperformance could boost ASX 200 copper shares in 2023

Copper is already off to a strong start in 2023.

And according to the latest MLIV Pulse survey, reported by Bloomberg, professional and retail investors alike have pegged copper as “the most likely commodity to outperform when compared to oil, corn and gold”.

Part of that investor bullishness comes from copper’s widespread use in construction activities, with China’s reopening from its zero-COVID forecast to boost demand for the metal.

Copper, a highly conductive metal, is also a vital element in EVs and the broader global march towards electrification.

Goldman Sachs head of commodities research Jeff Currie is among the analysts who believe the copper price will continue to increase in 2023, which would offer support for ASX 200 copper shares.

According to Currie:

Our target end of year is US$11,500…but longer term, we are in line with Trafigura, we see US$15,000 a tonne. You know, there’s a structural imbalance in these markets. You are likely to see peak copper supply in 2024.

The post Investing in ASX 200 copper shares? Here’s the outlook for the red metal in 2023 appeared first on The Motley Fool Australia.

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More reading

• Does the Vanguard Australian Shares ETF’s unique structure deliver better returns than the ASX 200?
• Did you buy $1,000 of Bank of Queensland shares 10 years ago? Here’s how much dividend income you’ve made
• 10 types of ASX companies that can grow even if the economy tanks
• 5 things to watch on the ASX 200 on Wednesday
• Here are the 3 most heavily traded ASX 200 shares on Tuesday

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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