Tag: Motley Fool

On Thursday, the S&P/ASX 200 Index (ASX: XJO) was on form and charged higher. The benchmark index rose 0.5% to 7,435.3 points.

Will the market be able to build on this on Friday and end the week on a high? Here are five things to watch:

ASX 200 poised to rise

The Australian share market looks set to rise slightly on Friday despite another poor night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open 8 points or 0.1% higher this morning. In late trade in the United States, the Dow Jones is down 0.3%, the S&P 500 is down 0.2%, and the NASDAQ index is down 0.3%.

Oil prices higher

Energy producers Beach Energy Ltd (ASX: BPT) and Woodside Energy Group Ltd (ASX: WDS) could have a good finish to the week after oil prices pushed higher overnight. According to Bloomberg, the WTI crude oil price is up 1.1% to US$80.37 a barrel and the Brent crude oil price is up 1.5% to US$86.24 a barrel. Demand hopes boosted prices.

Pilbara Minerals quarterly

The Pilbara Minerals Ltd (ASX: PLS) share price will be on watch on Friday after the lithium giant released its quarterly update. For the three months, Pilbara Minerals reported a 10% quarter on quarter increase in production to 152,151 dry metric tonnes (dmt) and an 8% lift in shipments to 148,627 dmt. The company also recorded a sizeable 33% increase in the price of its lithium.

Gold price storms higher

Gold miners Newcrest Mining Ltd (ASX: NCM) and St Barbara Ltd (ASX: SBM) could have a strong finish to the week after the gold price charged higher overnight. According to CNBC, the spot gold price is up 1.3% to US$1,931.8 an ounce. Gold was boosted by demand for safe havens.

BHP rated neutral

The BHP Group Ltd (ASX: BHP) share price remains fully valued according to analysts at Goldman Sachs. This morning, the broker has retained its neutral rating with a slightly trimmed price target of $48.00. Although BHP delivered a “a relatively robust Dec Q operating result with better-than-expected iron ore, copper and met coal production and realised prices,” it isn’t enough for a change of rating. Goldman notes that its price target for BHP “already applies a sector high 6.5x target multiple.”

The post 5 things to watch on the ASX 200 on Friday appeared first on The Motley Fool Australia.

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

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

More reading

• Here are the top 10 ASX 200 shares today
• Here are the 3 most heavily traded ASX 200 shares on Thursday
• Should I buy Woodside shares in 2023?
• How much profit will Pilbara Minerals shares make in 2023?
• Will Lake Resources become profitable in 2023?

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

from The Motley Fool Australia https://ift.tt/Vk3QCSU

Are you looking for ASX dividend shares to buy? Listed below are two passive income shares that analysts rate highly.

Here’s why they are bullish on them:

Accent Group Ltd (ASX: AX1)

This footwear and youth apparel retailer could be a dividend share to buy.

This is due to the company’s strong market position and its exposure to younger consumers. The latter is expected to be well-placed to keep spending in the current environment due to a rise in the minimum wage and less exposure to rising interest rates.

Bell Potter expects this to be the case and has a buy rating and $2.10 price target on the company’s shares. It said:

AX1 remains one of our top picks in the Retail sector as we remain constructive on the name considering its exposure to a younger customer demographic in a tougher consumer spending environment, its longer term growth trajectory (12% EBIT CAGR, FY21-25e) and attractive valuation (11x BPe FY24e P/E).

As for dividends, Bell Potter is expecting fully franked dividends of 10 cents per share in FY 2023 and 12.5 cents per share in FY 2024. Based on the current Accent share price of $1.94, this will mean yields of 5.15% and 6.45%, respectively.

Charter Hall Long WALE REIT (ASX: CLW)

Another ASX dividend share that has been named as a buy is Charter Hall Long Wale REIT.

It is a property company focused on high quality real estate assets that are leased to corporate and government tenants on long term leases.

Analysts at Citi are positive on the company and have a buy rating and $4.70 price target on its shares. This is due to its “low risk income stream with c. 12 year WALE and 99.9% occupancy.” Citi also highlights the sharp discount to net tangible assets (NTA) that its shares trade on. The broker said:

While there is uncertainty around the future movement in asset values and impact on CLW, we believe that current pricing is reflecting a significant margin of safety given the > 30% discount to NTA, so we remain favourable on CLW.

As for dividends, Citi is forecasting dividends per share of 28 cents in FY 2023 and 29 cents in FY 2024. Based on the current Charter Hall Long Wale REIT share price of $4.54, this will mean yields of 6.15% and 6.4%, respectively.

The post Buy these ASX passive income shares now: experts appeared first on The Motley Fool Australia.

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

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

More reading

• Experts say these top ASX dividend shares are buys right now
• 2 passive income ideas I’d use to generate $100 a week in 2023
• Here are some top ASX dividend share ideas according to experts
• Buy these ASX dividend shares for a passive income: experts
• I’d start loading up on cheap ASX shares while I can

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.

from The Motley Fool Australia https://ift.tt/8VQpuMl

The team at Bell Potter has been busy picking out the best ASX shares to buy in 2023.

Among its mining picks are the two listed below. Here’s what the broker is saying about these ASX mining shares:

Chalice Mining Ltd (ASX: CHN)

This mineral exploration company is one of Bell Potter’s top picks for 2023. The broker is bullish on the company due to its globally significant PGE-NiCu deposit and exposure to highly sought critical minerals. It commented:

CHN’s 100%-owned Julimar project is a globally significant PGE-NiCu deposit. Located 70km north of Perth in WA, it represents a unique opportunity to establish new strategic PGE and base metals supply in a top mining jurisdiction.

This is reinforced by the inclusion of PGE’s nickel and cobalt on Australia’s and the USA’s critical minerals lists, due to their role in the lithium-ion battery and hydrogen fuel cell production value chain and Russia’s market dominance. Exploration and project development updates in 2022 have reinforced the upside at the Gonneville deposit, and the Julimar project.

Bell Potter has a speculative buy rating and $11.10 price target on its shares.

De Grey Mining Limited (ASX: DEG)

If you’re looking for exposure to gold, then De Grey Mining could be the way to do it according to Bell Potter. It has named this gold developer as one of its best ideas of 2023.

The broker sees significant potential in the Mallina Gold Project in Western Australia. It also appears to believe the project is so attractive that it could be a top acquisition option for a big gold mining company. Bell Potter said:

DEG is advancing its 100%-owned Mallina Gold Project (MGP) located 60km south of Port Hedland in WA. Mineral Resource for the MGP are 251Mt at 1.3g/t gold containing 10.6Moz of gold. Based on the PFS outcomes and our own modelling, we believe the MGP can support a large-scale, long life production asset with operational flexibility and robust margins in one of the world’s top mining jurisdictions. We view the MGP as a rare opportunity that is attractive as both a foundation production asset for DEG or as a meaningful acquisition for any of the world’s top gold production companies.

Bell Potter has a speculative buy rating and $1.83 price target on De Grey Mining’s shares.

The post These are the best ASX mining shares to buy in 2023: experts appeared first on The Motley Fool Australia.

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

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

More reading

• Here are the 10 most shorted ASX shares
• Will 2023 be a golden year for ASX 200 mining shares?
• Mineral mania: 5 ASX 200 mining shares smashing new highs on Monday
• Here are the 10 most shorted ASX shares
• Here are the top 10 ASX 200 shares today

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

from The Motley Fool Australia https://ift.tt/EWYgfu5

One of the most popular options for income investors on the Australian share market is the Telstra Group Ltd (ASX: TLS) dividend.

This is for good reason. Over the last couple of decades, the telco giant has paid billions of dollars out to shareholders in the form of dividends.

In light of this, investors may be wondering what lies ahead for Telstra shares and their dividends.

What is the market expecting from Telstra shares?

Given the surprise dividend increase to 16.5 cents per share in FY 2022 and its new growth-focused T25 strategy, there’s a lot of different opinions on what Telstra shares will yield in the near term.

But the good news is that nobody is forecasting a dividend cut. The worst possible outcome for income investors, according to analysts, is a flat dividend.

For example, a note out of Goldman Sachs reveals that its analysts expect fully franked dividends per share of 17 cents in FY 2023 and 18 cents in FY 2024. Based on the current Telstra share price of $4.15, this will mean yields of 4.1% and 4.3%, respectively.

And while Goldman only has a neutral rating on its shares, it does believe they could rise to its $4.40 price target.

Over at Morgan Stanley, its analysts are forecasting the same as Goldman. However, they have an overweight rating and $4.75 price target, which suggests that Telstra shares could rise almost 15% over the next 12 months.

Across at Ord Minnett, its analysts are expecting stronger dividend growth. They are forecasting a 17 cents per share dividend this year and then a 19 cents per share dividend in FY 2024. This would mean a yield of 4.1% and 4.6%, respectively.

Ord Minnett also sees decent upside ahead for the Telstra share price. It has a buy rating and $4.70 price target.

Finally, Morgans isn’t expecting any dividend growth from Telstra in the near term. It is predicting that Telstra will continue to pay 16.5 cents per share dividends in both FY 2023 and FY 2024, providing 4% yields. It has an add rating and $4.65 price target.

Overall, anyone buying Telstra shares today should expect to receive a dividend yield of 4% or above in FY 2023 and FY 2024.

The post Telstra shares: Here are the dividend forecasts for 2023 and 2024 appeared first on The Motley Fool Australia.

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

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

More reading

• Here are the 3 most heavily traded ASX 200 shares on Thursday
• 2 high-dividend shares to buy today for early retirement
• Here are the 3 most heavily traded ASX 200 shares on Wednesday
• Tech turnaround: Expert picks 2 ASX shares to buy for a 2023 revival
• How I’d invest my very first $500 in ASX shares in 2023

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

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

The Qantas Airways Limited (ASX: QAN) share price finished in the red today amid a second mid-air incident.

Qantas shares fell 0.46% today to close at $6.54. For perspective, the S&P/ASX 200 Index (ASX: XJO) climbed 0.57% today.

Let’s take a look at what is going on with Qantas.

Flight turmoil

Qantas shares fell today despite multiple ASX 200 travel shares rising higher. The Webjet Limited (ASX: WEB) share price leapt 1.80% today, while Flight Centre Travel Group Ltd (ASX: FLT) shares jumped 0.89%.

In news today, a Qantas flight bound for Fiji had to return to Sydney after pilots received a “fault indicator”, the ABC reported. A Qantas spokesperson cited by the publication said:

Our Sydney to Fiji flight has returned to Sydney as a precaution after pilots received a fault indicator about a potential mechanical issue.

The pilots followed standard procedures and the aircraft has landed normally in Sydney.

This follows a pilot flying from Auckland to Sydney having to issue a ‘mayday‘ alert when one of its two engines shut down.

A Qantas spokesperson quoted by CNN Travel said:

While inflight engine shutdowns are rare, and would naturally be concerning for passengers, our pilots are trained to manage them safely and aircraft are designed to fly for an extended period on one engine.

The mayday alert, which can signal a life-threatening emergency, was later downgraded to PAN, meaning possible assistance was needed before the plane landed safely. Some passengers reportedly heard a “bang” during the flight.

The Australian Transport Safety Bureau has launched an investigation into this flight, The Australian reported. In light of the incident, Australian and International Pilots Association vice-president Mark Hofmeyer highlighted single pilot operations are “not going to be viable for a long time”. He added in quotes cited by the publication, “Pilots work as a team for a safe outcome”.

Broker Goldman Sachs is positive on the Qantas share price and believes the company can deliver a huge profit in FY 2023 and 2024. Goldman said:

With the market capitalization 10% above pre-COVID levels and EV (based on last reported net debt) 8% below pre-COVID, we believe the stock is not appropriately pricing QAN’s improved earnings capacity. Specifically, our FY23e EPS forecast is 58% above FY19a levels with group capacity still 21% below pro-COVID levels. 

Qantas share price snapshot

The Qantas share price has soared nearly 29% in the last year.

Qantas has a market capitalisation of about $11.88 billion based on today’s share price.

The post Qantas share price struggles amid second incident in 2 days appeared first on The Motley Fool Australia.

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

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

More reading

• 3 ASX 200 shares smashing new 52-week highs on Wednesday
• Should ASX 200 investors buy Qantas shares today?
• 5 things to watch on the ASX 200 on Tuesday
• Shareholders rejoice! Qantas share price hits post-market-crash high
• Could Qantas shares hit turbulence as competition ramps up?

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

from The Motley Fool Australia https://ift.tt/PZpuFO7

The S&P/ASX 200 Index (ASX: XJO) soared to its highest point in nine months on Thursday, peaking at 7439.7 points before slipping slightly to close 0.57% higher at 7,435.3 points.

That was despite a poor session on Wall Street overnight. The Dow Jones Industrial Average Index (DJX: .DJI) fell 1.8% on Wednesday overseas, while the S&P 500 Index (SP: .INX) dropped 1.6%, and the Nasdaq Composite Index (NASDAQ: .IXIC) slipped 1.2%.

Back home, mining shares led the market higher, with the S&P/ASX 200 Materials Index (ASX: XMJ) rising 1%, driven by iron ore giants and lithium favourites.

The S&P/ASX 200 Health Care Index (ASX: XHJ) also outperformed, gaining 0.9%.

Meanwhile, an 4.7% gain from Viva Energy Group Ltd (ASX: VEA) wasn’t enough to stop the S&P/ASX 200 Energy Index (ASX: XEJ) from falling 0.7% alongside oil prices. The black liquid’s value slipped around 1% overnight.

So, with all that covered, let’s take a look at the 10 shares outperforming all others on Thursday.

Top 10 ASX 200 shares countdown

Shares in Nanosonics Ltd (ASX: NAN) posted the ASX 200’s biggest gain today, soaring 8% to close at $5.12.

The company dropped exciting earnings for the first half of financial year 2023 this morning, detailing a 35% jump in revenue and a 39% lift in profits.

These shares made today’s biggest gains:

ASX-listed company	Share price	Price change
Nanosonics Ltd (ASX: NAN)	$5.12	8.02%
Viva Energy Group Ltd (ASX: VEA)	$2.87	4.74%
Suncorp Group Ltd (ASX: SUN)	$12.36	3.69%
Rio Tinto Limited (ASX: RIO)	$125.96	3.25%
Imugene Limited (ASX: IMU)	$0.16	3.23%
Allkem Ltd (ASX: AKE)	$12.61	2.94%
Iluka Resources Limited (ASX: ILU)	$10.69	2.69%
Resmed Inc (ASX: RMD)	$33.38	2.11%
Sandfire Resources Ltd (ASX: SFR)	$6.35	2.09%
TPG Telecom Ltd (ASX: TPG)	$4.98	2.05%

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.

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

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

More reading

• Brokers say this ASX 200 lithium share can generate big returns
• The Suncorp share price is on fire today. Should you buy?
• Here are the 3 most heavily traded ASX 200 shares on Thursday
• Why Allkem, DGL, Nanosonics, and Rio Tinto shares are pushing higher today
• Nanosonics share price leaps 9% on booming earnings in the first half

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

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

Are you a fan of both National Australia Bank Ltd (ASX: NAB) shares and cryptocurrency? If so, I have great news for you.

The S&P/ASX 200 Index (ASX: XJO) big four bank has created a brand new stablecoin, dubbed the AUDN.

Let’s take a closer look at the high-tech currency born from the 41-year-old financial institution.

The NAB share price was trading at $31.77 at the market close, 0.30% higher than its previous close. For comparison, the ASX 200 lifted 0.57% at the close of trade.

NAB reveals AUD-linked cryptocurrency

If you own NAB shares, congratulations may be in order. The bank has revealed a stablecoin – a form of cryptocurrency tied to a fiat currency. In this case, NAB’s AUDN is tied to the Aussie dollar.

The bank created AUDN on the Ethereum blockchain in December. It will soon begin testing its use with internal transactions before expanding to other use cases, for which it will work closely with its corporate clients.

NAB executive of innovation and partnerships Howard Silby commented on the stablecoin’s creation, saying:

We believe that elements of the future of finance will be blockchain enabled because it has the potential to help deliver instantaneous, transparent, and inclusive financial outcomes for customers as our economy becomes increasingly digitised.

As a trusted financial institution we have an important role to play in advancing the maturity of the blockchain enabled sector.

Silby said the bank aimed to use AUDN in cases with “high friction and clear customer benefit”. It imagines AUDN could be used to send money internationally or trade in carbon credits, for instance.

In particular, its attention will be drawn to the benefits of the coin in the corporate and institutional banking sector.

Interestingly, NAB isn’t the first of the big four banks to create an Aussie dollar-linked stablecoin. It was beaten to the punch by ANZ Group Holdings Ltd (ASX: ANZ) last year.

The smallest of the lot created and transacted with its A$DC in March 2022.  

NAB share price snapshot

The NAB share price has been outperforming the broader ASX 200 recently.

The stock has gained 7.9% year to date. Meanwhile, the index has lifted 7%.

Looking further back, the NAB share price has risen 9% over the last 12 months, while the ASX 200 has improved just over 1%.

The post Own NAB shares? Now you also own crypto appeared first on The Motley Fool Australia.

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

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

More reading

• Are NAB shares a good investment ahead of earnings season?
• Up 20% in 6 months, is the Westpac share price now fully valued?
• 3 ASX 200 shares I own for big dividends in 2023
• Which ASX 200 bank shares are the ones to buy in 2023?
• 3 reasons to buy NAB shares right now: Goldman Sachs

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

from The Motley Fool Australia https://ift.tt/WKzIVa6

The Allkem Ltd (ASX: AKE) share price was on form on Thursday.

The lithium miner’s shares ended the day 3% higher at $12.61.

Why did this ASX 200 lithium share shoot higher?

Investors were buying Allkem’s shares today after brokers responded positively to the company’s latest quarterly update.

For example, according to a note out of Goldman Sachs, its analysts have reiterated their buy rating and lifted their price target on the company’s shares to $15.50.

Goldman notes that the Olaroz operation performed ahead of expectations, offsetting a softer performance from the Mt Cattlin operation. It commented:

AKE reported record lithium carbonate production at Olaroz of 4.3kt in 2Q, up 29% QoQ and 16%/19% ahead of GSe/consensus, with operational improvements expected to continue into the 2H and third party pricing of US$53,013/t and to remain flat into 3Q. Spodumene production at Mt. Cattlin was below GSe/consensus on ore availability/grade, though mining progression into 2H supports unchanged FY23 production/cost guidance, while realised pricing of US$5,284/t CIF (~US$6,000/t FOB on a SC6 equivalent basis) is expected to improve a further 5% in the Mar-23 quarter.

Over at Bell Potter, its analysts were pleased with the update. In response, the broker retained its buy rating with a slightly trimmed price target of $19.36.

Once again, it was pleased with the performance of the Olaroz operation, which smashed its estimates. It also highlights that Allkem’s costs were lower than it was expecting. It said:

December 2022 quarter lithium carbonate production of 4.3kt (BP est. 3.3kt) and sales of 3.1kt (BP est. 3.3kt). Unit costs were US$4,682/t (BP est. US$5,260/t) and average realised third party prices of US$53,013/t or when including internal technical grade sales to Naraha, US$46,706/t (BP est. $46,900/t).

Big returns ahead

Based on where this ASX 200 lithium share is trading right now, the Allkem share price could generate strong returns for investors this year.

Goldman Sachs’ price target of $15.50 implies potential upside of 23%. Whereas Bell Potter’s price target of $19.36 suggests even greater upside of approximately 54%.

Goldman explained why it is bullish. It concludes:

With optionality across the Americas and Australia on the largest lithium resource in our coverage growing equity LCE production >4x by FY27E, and at a discount to peers at 0.8x NAV (peer average ~1.1x), Allkem is our preferred lithium exposure. We maintain a Buy rating on an increased 12-month PT of A$15.5/sh.

The post Brokers say this ASX 200 lithium share can generate big returns appeared first on The Motley Fool Australia.

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

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

More reading

• Why Allkem, DGL, Nanosonics, and Rio Tinto shares are pushing higher today
• 5 things to watch on the ASX 200 on Thursday
• Guess which ASX 200 lithium share just capped off a record quarter
• Why are ASX 200 lithium shares struggling on Monday?
• 2 ASX 200 mining shares to buy as China reopens: analysts

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.

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

The Suncorp Group Ltd (ASX: SUN) share price is on a roll today, up 3.5% in late afternoon trading to $12.34 per share.

In fact, the Suncorp share price is today’s third-best performer among the S&P/ASX 200 Index (ASX: XJO).

It’s been a good day for ASX bank shares, with the big four and Macquarie Group Ltd (ASX: MQG) all in the green. This may be related to today’s weaker-than-expected jobs report, which could signal the economy is slowing in response to the Reserve Bank’s rapid 3% increase in the cash rate last year.

This could mean interest rates may not rise as high as previously thought — and the share market is liking that prospect. The ASX 200 is up 0.6% presently to 7,438 points.

What’s the latest with the Suncorp share price?

As my Fool colleague Brooke recently reported, the Suncorp share price outperformed most other ASX 200 bank shares in 2022.

The stock rose from $11.07 to $12.04 – or 8.8% – over the year. That compares to a 5.5% fall in the ASX 200 and an almost 3% fall in the S&P/ASX 200 Financials Index (ASX: XFJ).

Of course, soon enough Suncorp will no longer be a bank share given it is in the process of selling its banking division to ANZ Group Holdings Ltd (ASX: ANZ).

Earnings season is upon us once again, and Suncorp will release its half-year results on 8 February. The ex-dividend date will be 14 February and the payment date will be 31 March.

As reported in the Australian Financial Review today, Morgan Stanley has upgraded its rating on Suncorp to overweight. The broker has a 12-month share price target of $14.50 on the insurance giant.

At today’s share price, a few brokers see a lot of value in Suncorp for dividends this year.

IML portfolio manager Michael O’Neill projects a forward 6.8% dividend yield for Suncorp in FY24. He says the stock is currently trading on a 12.1 times price-to-earnings (P/E) ratio.

At the end of 2022, Morgans had an add rating on Suncorp shares with a $13.98 price target. The broker foresees an 80-cent dividend from Suncorp in FY24 — a yield of 6.5% on today’s share price.

Suncorp share price snapshot

The Suncorp share price reached an intraday high of $12.42 earlier today.

The stock is up by 5.65% over the past 12 months compared to a 1.4% increase in the ASX 200.

It’s had a great start to 2023, up 4.4% since 3 January.

The post The Suncorp share price is on fire today. Should you buy? appeared first on The Motley Fool Australia.

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

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

More reading

• 4 best ASX dividend shares to buy right now: expert
• Why ASX dividend shares are so ‘critical’ right now: fundie
• When it comes to ASX 200 dividend shares, is boring better?
• How to minimise risk using ASX 300 dividend shares: fundie
• The 3 ASX 200 bank shares that outperformed all others in 2022

Motley Fool contributor Bronwyn Allen has positions in Anz Group and Macquarie 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 recommended Macquarie Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/2oG1bgI

The S&P/ASX 200 Index (ASX: XJO) has recovered from some early wobbles and is pushing higher so far during this Thursday’s trading session.

At the time of writing, the ASX 200 is well back over 7,400 points, recording a gain of 0.61% at present to just under 7,440 points.

So time now to dig deeper into these market moves by having 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 Thursday

Telstra Group Ltd (ASX: TLS)

ASX 200 telco Telstra is our first share worth taking a gander at today. The telecommunications giant has had a sizeable 17.7 million of its shares rung up for sale this session thus far. We’ve had no fresh news out of Telstra for a while now. So we can probably put this volume down to the actions of the Telstra share price itself.

Telstra is currently up a meaty 1.47% at $4.15 a share, well outdoing the performance of the broader market. The company touched a high of $4.16 earlier today as well. That is starting to put the company’s 52-week high of $4.27 in reach.

Nickel Industries Ltd (ASX: NIC)

ASX 200 nickel producer Nickel Industries is our next share to take a look at. So far this session, a notable 19.54 million shares have changed hands. This looks to be a consequence of Nickel Industries shares returning to market after a trading halt this week.

This was held in order to facilitate a capital raising from institutional investors, conducted at $1.02 per share. Nickel Industries shares have fallen to around that level today, with the company nursing a nasty 8.3% loss at present to $1.03 a share. This is probably the cause of the high volumes we see.

Alumina Limited (ASX: AWC)

ASX 200 aluminium and alumina producer Alumina is our final and most traded share of the day so far. Alumina has watched as a hefty 22.85 million of its shares have been traded this Thursday so far. This is almost certainly a result of the disappointing results Alumina released covering the December quarter.

As my Fool colleague Bronwyn covered earlier today, this was the company’s post earnings of $27 million, down from the $69 million that was made during the previous quarter. Investors have been disappointed with these numbers, and have sent Alumina shares down by a depressing 8.12% to $1.56 a share.

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

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

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

More reading

• 3 ASX All Ords shares getting hammered on disappointing results
• Why Alumina, Netwealth, Nickel Industries, and Paladin Energy shares are falling today
• 2 high-dividend shares to buy today for early retirement
• Will Lake Resources become profitable in 2023?
• Can income investors bank on CBA growing its dividend yield by 18%?

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

from The Motley Fool Australia https://ift.tt/0yhTXYt