Tag: Motley Fool

The explosive lithium trend tempered in 2022 following an incredible year for ASX lithium shares in 2021.

Even some of the most profitable companies in the industry rounded out the year with relatively mediocre returns compared to the year prior. For example, Pilbara Minerals Ltd (ASX: PLS) posted a reasonable 17% gain last year. However, this pales in comparison to the remarkable 133% climb in 2021.

Meanwhile, many lithium players still in the pre-production stages were dealt hammering blows to their share prices. Investors decisively turned away from money-hungry investments throughout the year as capital became more expensive due to rising rates.

Here are the ASX lithium shares that were hit the hardest during a challenging year.

Harrowing hardship for these ASX lithium shares

Galan Lithium Ltd (ASX: GLN)

The Argentina and Australia lithium project developer had a busy year drilling and testing across its sites during 2022. Most notably, Galan Lithium finished the year by acquiring the remaining 20% of the Greenbushes South Lithium Project in December to give it full ownership of the development.

However, the capital-intensive process of exploration while pre-revenue meant Galan widened its losses. In FY22, the company reached $5.08 million in net losses, deepening from $0.9 million.

It appears investors were less enthused about holding out for the possibility of future revenue amid the economic backdrop. In turn, this ASX lithium share suffered a substantial 45% fall in its share price in 2022. At present, Galan Lithium is fetching $1.04 per share with a market capitalisation of $320 million.

Ioneer Ltd (ASX: INR)

The second worst-performing ASX lithium share might be surprising given its achievements last year. Ioneer made major strides toward shoring up customers for its future anticipated lithium supply with offtake agreements with EcoPro Group, Ford, and Prime Planet Energy & Solutions Inc.

Although, with production not yet underway, Ioneer likewise dialled up the losses. At the end of FY22, the bottom line had blown out to $12.6 million in the red — worsening from the $10.3 million worth of bleeding in the prior fiscal year.

As such, the market responded with a 52.5% slashing of the Ioneer share price in 2022. Today, this ASX lithium share goes for 40 cents apiece, giving it a market cap of $808 million.

Lepidico Ltd (ASX: LPD)

Turning to the ASX lithium company that fared the worst in 2022. Lepidico was unable to catch a break last year as the small-cap persevered with exploration in Namibia and the United Arab Emirates.

Positively, Lepidico made headway on phase 1 of its projects, receiving cost estimates for further development. The company estimated the costs of an integrated mine, concentrator, and chemical plant to be US$266 million. Though, Lepidico still lacks revenue and only held $8 million in cash at the end of June 2022.

Over the course of 2022, this ASX lithium share tumbled 58%. At the time of writing, Lepidico shares are swapping hands at 1.5 cents each with a market cap of around $107 million.

The post These were the worst-performing ASX lithium shares of 2022 appeared first on The Motley Fool Australia.

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

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

More reading

• Why Beach, Blackmores, Costa, and Weebit Nano shares are falling today
• Warrego Energy share price rockets 9% as Rinehart doubles down on takeover
• The Lake Resources share price sank 21% in 2022. What now?
• Can you guess which ASX gold share is surging 15% on Thursday?
• The 3 best performing ASX 200 dividend shares of 2022

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 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/CXqVBHF

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a small gain. At the time of writing, the benchmark index is up 0.1% to 7,065.6 points.

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

Beach Energy Ltd (ASX: BPT)

The Beach Energy share price is down 4% to $1.52. Investors have been selling Beach and other energy shares today after oil prices sank again overnight. Traders were selling down oil amid global economic growth concerns. The S&P/ASX 200 Energy index is down 2.1% this afternoon.

Blackmores Ltd (ASX: BKL)

The Blackmores share price is down 1.5% to $73.38. This is despite there being no news out of the health supplements company. However, it is worth noting that Citi recently warned about the company’s prospects in FY 2023. It feels that price increases and the cost of living crisis could hit demand for its offering. Citi has a sell rating and $58.85 price target on its shares.

Costa Group Holdings Ltd (ASX: CGC)

The Costa Group share price is down 2% to $2.74. A number of agricultural shares are under pressure on Thursday. This may have been driven by some large investors rotating out of the sector into other areas of the market.

Weebit Nano Ltd (ASX: WBT)

The Weebit Nano share price is down 1% to $3.60. This may have been driven by profit taking after some strong gains in recent sessions. Investors have been buying this semiconductor company’s shares after it provided a positive update on its demo chip.

The post Why Beach, Blackmores, Costa, and Weebit Nano shares are falling today appeared first on The Motley Fool Australia.

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

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

More reading

• 5 things to watch on the ASX 200 on Thursday
• Why are ASX 200 energy shares falling today?
• 5 things to watch on the ASX 200 on Wednesday
• Here are the top 10 ASX 200 shares today
• Why HT&E, Seven West Media, Tabcorp, and Weebit Nano shares are rising

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 Blackmores and Costa 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/STtNWZl

The Warrego Energy Ltd (ASX: WGO) share price is roaring higher on Thursday after Hancock Energy – owned by mining magnate and Australia’s richest person Gina Rinehart – upped its takeover bid for the ASX company.

Rinehart has today slapped a 36-cent per share bid on the table. That’s a 28.6% increase on the billionaire’s previous 28-cent offer.

The newly hiked bid follows a 32-cent all-scrip offer from Strike Energy Ltd (ASX: STX) last month, as well as the withdrawal of former suitor Beach Energy Ltd (ASX: BPT) from the takeover race.

Interestingly, however, the market appears to be hopeful the company could go for more than all currently tabled offers.

It has bid the Warrego share price 9.28% higher to trade at 37.7 cents right now.

Furthermore, the stock hit a 52-week high of 38.5 cents earlier today ­– marking an 11.6% surge.

Let’s take a closer look at what’s going on with the ASX energy developer today.

What’s driving the Warrego Energy share price today?

The Warrego share price is soaring higher than all takeover bids put to the company on Thursday. its gains come amid a sixth bid from Rinehart’s Hancock energy.

The latest bid is conditional on the acceptance of 40% of Warrego shareholders. Hancock already has its hands on 25.9% of the ASX company’s stock.

The offer is set to close on 31 January with Hancock lined up to fork out up to $447 million.

And Warrego’s shares aren’t alone in the green. The share price of Strike Energy is also rocketing, gaining 11.94% to trade at 37.5 cents right now.

Though, in a strange twist of events, Strike’s gains could also have something to do with an editing mistake found in a release from Mineral Resources Limited (ASX: MIN).

The AS&P/ASX 200 Index (ASX: XJO) giant announced an off-market takeover bid for Norwest Energy NL (ASX: NWE) yesterday. In its release, however, Strike’s ABN was included in place of Norwest’s, perhaps suggesting it might also be a target.

Mineral Resources is also suspected of being behind a trade wherein 15% of Warrego’s stock swapped hands for 35 cents apiece yesterday, Australian Financial Review reports.

Meanwhile, Hancock believes the Strike share price is being supported by the takeover battle. It’s encouraging Warrego investors not to accept the competing bid lest the value of Strike’s stock falls.

The post Warrego Energy share price rockets 9% as Rinehart doubles down on takeover 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 Core Lithium, MMA, Northern Star, and Warrego Energy are charging higher
• These 3 ASX shares have doubled, can they do it again?
• Why Bigtincan, Core Lithium, Pinnacle, and Warrego shares are dropping today
• Why Beach, Chalice Mining, Nitro, and Rio Tinto shares are rising today
• Warrego Energy share price slides as Hancock takeover offer trumps Beach

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/TKURQrD

The Lake Resources N.L. (ASX: LKE) share price had a year to forget in 2022.

During the period, the lithium developer’s shares lost 21% of their value and finished the year at 80 cents.

This is particularly disappointing because, as you can see below, the Lake Resources share price was up as much as 160% at one stage to a record high of $2.65.

What happened to the Lake Resources share price in 2022?

After initially benefiting greatly from optimism over the lithium boom, investors quickly turned sour on Lake Resources amid an ownership dispute and a short seller attack.

In respect to the ownership dispute, which has now been resolved, Lake and its direct lithium extraction (DLE) technology partner Lilac Solutions disagreed on when certain milestones needed to be achieved for the latter to earn a 25% ownership in the Kachi project in Argentina.

Given how vital Lilac Solutions’ technology is to the project, this unsurprisingly caused a few concerns.

This brings us onto the short seller attack from J Capital.

Its analysts revealed that they are shorting Lake Resources partly due to its DLE technology. J Capital alleges that the unproven technology will fail to produce lithium in a clean way and instead produce toxic waste.

It has since followed this up with another attack, which alleges that the company jumped the gun on UK Export Finance funding claims. This creates uncertainty in regards to how the project will ultimately be funded.

Will 2023 be better?

There’s certainly a lot to consider for 2023. Lithium prices, short sellers, updates on its DLE technology could all have a major impact on the Lake Resources share price.

But if everything goes in the company’s favour, then there could be some big gains ahead according to Bell Potter. Its analysts currently have a speculative buy rating and $2.52 price target on its shares.

Based on the current Lake Resources share price of 77 cents, this suggests that the lithium developer’s shares could more than triple in value in 2023.

The post The Lake Resources share price sank 21% in 2022. What now? 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
• Here are the 10 most shorted ASX shares
• Here are the top 10 ASX 200 shares today
• Why has the Lake Resources share price crashed 20% in a month?
• While the ASX 200 struggled in 2022, investors doubled down on lithium shares. Here’s why

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/1oHv3lm

ASX gold shares are broadly enjoying a strong run today.

With the gold price edging higher overnight to US$1,855 per troy ounce (up 1.7% so far in 2023), most gold stocks are in the green.

That sees the S&P/ASX All Ordinaries Gold Index (ASX: XGD) up 2.3% in late morning trade, compared to a 0.4% gain posted by the All Ordinaries Index (ASX: XAO).

But one ASX gold share is leaving those gains in the dust.

Can you guess which one?

If you said Alkane Resources Limited (ASX: ALK), go to the head of the class. Shares in the gold miner are up 13% at the time of writing, having earlier posted gains of 15%.

Here’s what’s sending the Alkane Resources share price rocketing.

What did the gold miner report?

Alkane Resources is leading the ASX gold share rally today after the miner upgraded its FY2023 guidance for its Tomingley Gold Operations, located in New South Wales.

Alkane increased its guidance to between 62,000 ounces and 70,000 ounces of gold, up from the previous guidance of 55,000 to 60,000 ounces.

All in sustaining costs (AISC) were revised downwards from the previous $1,650 to $1,900 per ounce to the new guidance of $1,550 to $1,800 per ounce.

The ASX gold share also looks to be getting a boost after reporting Tomingley exceeded its production forecast for the December quarter, with 18,301 ounces of gold produced over the three months. That brings the miner’s first half-year production for FY23 to 37,790 ounces of gold.

The company reported its unaudited cash, bullion and listed investments position on 31 December stood at $114 million.

Commenting on the updates sending the ASX gold share soaring today, Alkane managing director Nic Earner said:

Tomingley continues to deliver outstanding performance, resulting in upgraded guidance for the 2023 financial year… With approvals expected shortly to extend the life of Tomingley beyond 2030 at increased production rates, we’re looking forward to developing the Roswell resource in the year ahead.

How has this ASX gold share been performing?

With today’s big intraday lift factored in, the Alkane Resources share price is up a handy 20% in the first week of trading in 2023.

Over the past year, as you can see in the chart below, the ASX gold share remains in the red, down 29%.

The post Can you guess which ASX gold share is surging 15% 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(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• The Lake Resources share price sank 21% in 2022. What now?
• The 3 best performing ASX 200 dividend shares of 2022
• Is China about to reignite ASX 200 coal shares?
• How buying this ASX 200 share could boost my annual dividend income by 17%
• The Webjet share price recovered 20% in 2022. Is this just the beginning?

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

from The Motley Fool Australia https://ift.tt/CyA6WeZ

I believe investing in shares in just one S&P/ASX 200 Index (ASX: XJO) company could boost my annual dividend income by 17%.

If my portfolio was offering passive income in line with the broader ASX 200 – as per the SPDR S&P/ASX 200 (ASX: STW) (an exchange-traded fund (ETF) tracking the index) – adding Rio Tinto Limited (ASX: RIO) shares could make a big impact. Here’s how.

Can I up my dividend income with just one ASX 200 share?

That’s right. The mammoth dividend yield currently on offer by the iron ore giant could bolster an average ASX 200 portfolio’s passive income significantly.

According to the SPDR ASX 200 fund, the average ASX 200 share boasts a dividend yield of 4.72%.

Meanwhile, Rio Tinto shares closed Wednesday’s session with a whopping 8.19% trailing dividend yield – that’s certainly nothing to scoff at!

Let’s assume, then, I was considering adding $3,000 worth of Rio Tinto shares to a $10,000 portfolio otherwise capable of offering the ASX 200’s average yield.

Let’s do the math

Here’s how my ongoing yield might look if I added a chunk of Rio Tinto shares to an average-yielding ASX 200 portfolio:

Investments’ value	Expected dividend yield	Anticipated annual dividends
$10,000	4.72%	$472
$3,000	8.19%	$245.70
$13,000	5.52%	$717.70

As the above chart shows, by adding $3,000 worth of the ASX 200 giant’s shares to the portfolio, its anticipated annual dividend offerings could jump $472 to $717.70 – a 52% increase.

It would also boost its expected dividend yield by 17% – lifting it from 4.72% to around 5.52%.

Of course, the more Rio Tinto shares added to the mix, the more the portfolio’s total yield would increase towards that of the iron ore giant.

But I wouldn’t buy into the ASX 200 favourite without considering a number of other factors.

More than meets the eye?

While increasing my annual dividend yield by 17% might be tempting, I likely wouldn’t jump in with both feet just yet. Here’s why.

Firstly, Rio Tinto’s mammoth trailing dividend yield is just that – trailing. That means its future dividends might not reach such pinnacle levels.

Listed companies typically rely on their earnings to pay out dividends.

Thus, I would comb through the company’s books just as I would before buying any other stock prior to deciding if it is a worthwhile addition to my portfolio. In doing so, its current 8.19% dividend yield wouldn’t be a decisive factor.

Additionally, I would be sceptical about investing a large chunk of my portfolio in a single stock. I might even consider taking smaller positions in multiple high-yielding ASX 200 shares so to better diversify my investments.

The post How buying this ASX 200 share could boost my annual dividend income by 17% 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

• My plan to turn $5 a day into a passive income in 2023
• 5 things to watch on the ASX 200 on Thursday
• The 5 biggest threats to the stock market in 2023
• Iron ore price in 2023: Bull vs. bear
• Why Dreadnought, Pointsbet, Rio Tinto, and Woodside shares are pushing higher

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/aMZAj0E

It was a difficult 12 months for the S&P/ASX 200 Index (ASX: XJO) in 2022. Over the period, the benchmark index lost 5.5% of its value.

The good news is that not all ASX 200 shares dropped with the market, with some even managing to beat the market convincingly.

A number of popular ASX 200 dividend shares (with yields greater than 3%) performed strongly during the year. Listed below are some of the best performers during the period:

Whitehaven Coal Ltd (ASX: WHC)

Thanks to booming coal prices, Whitehaven Coal was the best performing ASX 200 dividend share in 2022 with a gain of 261%. During the year, the coal miner also rewarded its shareholders with dividends totalling 48 cents per share. Based on the current Whitehaven Coal share price, this equates to a partially franked 5.8% dividend yield.

For the same reason, New Hope Corporation Limited (ASX: NHC) smashed the market with a 185% gain. It also paid fully franked dividends totalling 86 cents per share, which was the equivalent of a 13.5% dividend yield.

Woodside Energy Group Ltd (ASX: WDS)

Another ASX 200 dividend share that delivered stellar returns for investors was Woodside. Thanks to strong oil prices and the merger with the petroleum assets of BHP Group Ltd (ASX: BHP), Woodside shares rose 62% higher during 2022. The energy giant also paid fully franked dividends totalling $3.06 per share during the 12 months. This represents a 9.1% dividend yield at current prices.

Origin Energy Ltd (ASX: ORG)

Finally, this energy company was a strong performing ASX 200 dividend share in 2022. Thanks to an $18 billion takeover approach from Brookfield Asset Management and MidOcean Energy, Origin shares rose a massive 47% during the period. The company also rewarded its shareholders with total dividends of 29 cents per share in FY 2022. Based on the current Origin share price, this represents a 3.8% dividend yield.

The post The 3 best performing ASX 200 dividend shares of 2022 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

• Is China about to reignite ASX 200 coal shares?
• 5 things to watch on the ASX 200 on Thursday
• ASX financial shares lifted the ASX 200 today
• Here are the top 10 ASX 200 shares today
• ASX 200 tech shares are leading the market higher 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/rqUOke2

S&P/ASX 200 Index (ASX: XJO) coal shares are off to a solid start in 2023.

Having all more than doubled their share prices last year, Whitehaven Coal Ltd (ASX: WHC), New Hope Corporation Limited (ASX: NHC), and Yancoal Australia Ltd (ASX: YAL) are all in the green in this first week of trading in the new year.

This comes in the wake of a smashing year for the big coal stocks in 2022.

ASX 200 coal shares enjoyed some gale force tailwinds as the price of thermal coal – used to generate electricity – soared to record levels.

Demand for high-quality Aussie coal lifted across the world, with the notable exception of China, following Russia’s invasion of Ukraine and the resultant global sanctions on Russian energy exports.

China’s ban on Aussie coal imports entered its second year in 2022. The unofficial ban was put in place, in part, as a response to Australia’s support of an inquiry into the origins of the COVID virus.

But now, early rumours suggest, that China’s Aussie coal ban could be lifted as soon as 1 April. Which would certainly be welcome news to the ASX 200 coal shares.

All eyes on China’s National Development and Reform Commission

The Australian and Chinese governments have been making some progress in mending their frayed relations.

In a sign the improved sentiment may be paying off, Bloomberg reports China’s National Development and Reform Commission this week discussed reopening the door to some Aussie coal imports.

People familiar with the matter, who wished to remain anonymous, indicated that China Baowu Steel Group Corp, China Datang Corp, China Huaneng Group Co and China Energy Investment Corp could be allowed to make new purchases in 2023.

Imports, much of which would likely be sourced from the big ASX 200 coal shares, could restart by 1 April.

The immediate impact is unlikely to be huge, in part because the big coal miners can’t simply turn a tap to ramp up production. That takes many months or years even.

But Ray Attrill, head of currency strategy at National Australia Bank Ltd (ASX: NAB) in Sydney, noted that if China reopens its ports to Australian coal imports, it could send prices higher.

There will be an overall “impact on sentiment from evidence of improving relations with China,” he said.

ASX 200 coal shares have been on fire

As mentioned above and you can see in the charts below, ASX 200 coal shares have been strong outperformers over the past 12 months.

And the big miners could be in for some additional tailwinds in 2023 if China indeed lifts its import ban on Aussie coal.

The post Is China about to reignite ASX 200 coal shares? 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

• The 3 best performing ASX 200 dividend shares of 2022
• These are the highest-yielding ASX 200 dividend shares right now
• These were the 5 top-performing ASX All Ords shares of 2022
• Why did the Whitehaven Coal share price tumble 6% today?
• Why Invictus Energy, New Hope, Pilbara Minerals, and WiseTech shares are dropping

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

from The Motley Fool Australia https://ift.tt/wd4F9uq

The Webjet Limited (ASX: WEB) share price returned to form and was a market beater in 2022.

As you can see below, during the 12 months, the online travel agent’s shares rose a sizeable 19.5%.

This compares favourably to the ASX 200 index, which declined 5.5% during the same period.

What drove the Webjet share price higher?

Investors were buying Webjet shares last year after its recovery from the pandemic gathered pace.

For example, in FY 2022 Webjet reported a 261% increase in total transaction value (TTV) to $1,638 million and a 258% jump in revenue to $138 million.

And while Webjet still posted an underlying loss of $38.4 million for the 12 months, management revealed that the company was profitable during the second half and delivered positive cash flow. In light of this result, a return to profit was now expected in FY 2023.

The good news is that Webjet is on course to achieve this. In November, the company released its half year results for FY 2023 and revealed an underlying half year profit after tax of $32 million.

The even better news was that the company was on track to exceed pre-pandemic profitability in FY 2023, with second half EBITDA expected to exceed pre-pandemic levels by at least $10 million.

Investors responded positively to what Managing Director John Guscic described as a “spectacular turnaround” for the company, which led to the Webjet share price shooting higher on the day.

Will its shares continue to rise in 2023?

Webjet shares may have smashed the market last year, but a number of brokers still believe they can keep rising.

For example, Goldman Sachs has a conviction buy rating and $6.90 price target on the company’s shares. This implies potential upside of 10% for Webjet shares over the next 12 months.

The team at Morgans is also bullish and has an add rating and $7.20 price target.

Based on the current Webjet share price of $6.27, this suggests potential upside of 15% for investors this year. Morgans commented:

In our view, WEB hasn’t wasted a crisis and will come out of COVID with a materially lower cost base, consolidated systems and a large business in the US. With plenty of market share still to win, we maintain an Add rating on WEB.

The post The Webjet share price recovered 20% in 2022. Is this just the beginning? 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

• 23 ASX shares to buy in 2023 – brokers
• Why is the Flight Centre share price in the red today?
• 3 big ASX share winners in 2022 that could soar again next year
• Top ASX growth shares to buy for a stock market rebound
• 2 ASX 200 shares that have ‘further potential’ for good returns: experts

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has 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/3PfRM4X

It certainly was a difficult year for the Bitcoin (CRYPTO: BTC) price in 2022.

As we covered here, rising interest rates, tech selloff, and numerous industry scandals and collapses led to the world’s largest cryptocurrency losing approximately 65% of its value.

Will things be better for the Bitcoin price in 2023?

While forecasting the Bitcoin price seems like an impossible task, that hasn’t stopped a number of analysts from giving it a shot.

Unsurprisingly, these analysts have vastly different expectations for the cryptocurrency.

For example, according to CNBC, Bitcoin bull Tim Draper from Draper Fisher Jurvetson believes the cryptocurrency could climb almost 1,400% to US$250,000 in 2023.

In fact, Draper suspects that the Bitcoin price could rise to this level by the middle of the year. Though, it is worth noting that he made the same prediction for 2022, which clearly didn’t eventuate.

Draper expects female investors to be the key driver of this gain. He told CNBC:

My assumption is that since women control 80% of retail spending, and only 1 in 7 bitcoin wallets are currently held by women that the dam is about to break.

Bitcoin bears

The team at Standard Chartered isn’t buying into this. It has suggested that the Bitcoin price could tumble by over two-thirds to US$5,000 in 2023.

It warned that rising bond yields and a plunge in technology stocks could lead to an acceleration of the Bitcoin selloff and cause further bankruptcies and collapses in the crypto world.

This view is shared with Mark Mobius from Mobius Capital Partners. He warned that higher interest rates will reduce the appeal of Bitcoin and is expecting the cryptocurrency to fall by a third to US$10,000 in 2023. Mobius told CNBC:

With higher interest rates, the attraction of holding or buying Bitcoin or other cryptocurrencies becomes less attractive since just holding the coin does not pay interest.

Time will tell which analysts make the right call.

The post Will the Bitcoin price rise 1,400% in 2023? 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

• The Bitcoin price crashed 65% in 2022. Here’s why

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 Bitcoin. 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/PvW4D2O