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The S&P/ASX 200 Index (ASX: XJO) broke a four day winning streak on Monday. The Index closed 0.42% lower at 7,229.1 points.

And weighing it down was none another than the S&P/ASX 200 Energy Index (ASX: XEJ). It plunged 1.7% today amid falling oil prices.

It has been broadly reported that WTI crude oil and Brent crude oil each hit their lowest points since December 2021 today. The former fell to around US$74 a barrel while the latter slipped below US$82 a barrel.

The S&P/ASX 200 Materials Index (ASX: XJO) also struggled on Monday, sliding 0.9% despite major commodity prices rising.

Gold futures price rose 0.5% to US$1,754 an ounce on Friday while iron ore futures lifted 0.9% to US$92.74 a tonne.

However, it wasn’t all bad. The S&P/ASX 200 Communications Index (ASX: XTJ) led the market, gaining 0.6%, while the S&P/ASX 200 Real Estate Index (ASX: XRE) lifted 0.5%.

All in all, four of the ASX 200’s 11 sectors ended the day in the green. But which stock outperformed all others to take today’s crown? Keep reading to find out.

Top 10 ASX 200 shares countdown

While many of the market’s biggest energy stocks struggled today, their coal-focused counterparts outperformed.

Indeed, today’s best performer was New Hope Corporation Limited (ASX: NHC). Its share price lifted 5% despite the company’s silence.

Today’s biggest gains were made by these shares:

ASX-listed company	Share price	Price change
New Hope Corporation Limited (ASX: NHC)	$5.68	5.38%
Whitehaven Coal Ltd (ASX: WHC)	$9.43	3.97%
Brickworks Limited (ASX: BKW)	$22.53	3.21%
Seek Limited (ASX: SEK)	$21.96	2.23%
News Corp (ASX: NWS)	$27.70	2.21%
National Storage REIT (ASX: NSR)	$2.45	2.08%
REA Group Limited (ASX: REA)	$123.35	1.84%
Coronado Global Resources Inc (ASX: CRN)	$1.985	1.79%
Centuria Industrial REIT (ASX: CIP)	$3.20	1.59%
Cochlear Limited (ASX: COH)	$212.66	1.51%

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

• Here are the 3 most heavily traded ASX 200 shares on Monday
• The Whitehaven chair just cashed out $1.8 million in shares. Here’s the latest
• Up 30% in a month, why the Evolution Mining share price can keep climbing: expert
• Which ASX 200 bank share stands to benefit the most from ‘good borrowers’?
• New Hope shares have soared 152% in 2022. Is it time to cash in?

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 Brickworks and Cochlear Ltd. The Motley Fool Australia has positions in and has recommended Brickworks. The Motley Fool Australia has recommended Cochlear Ltd., REA Group Limited, and SEEK Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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It’s no secret that inflation has become a top-of-mind concern for ASX investors in 2022. Rising prices weren’t an issue for so long that many investors forgot all about inflation. But that was until 2022 brought it back with a vengeance.

Back in October, the Australian Bureau of Statistics revealed that the annual inflation rate in the Australian economy was running at a hot 7.3%. That’s the highest level in more than 20 years.

So how do investors use ASX shares to beat inflation? One ASX fund manager has an idea.

Santos: An ASX 200 oil share to beat inflation?

Blake Henricks of Firetrail Investments recently spoke to Livewire about the challenges of inflation. Henricks named Santos Ltd (ASX: STO) shares as one of the ASX investments he’s looking at to beat inflation.

Henricks stated that he believed that energy shares are a great place to look for inflation-beating returns. That’s because much of the inflation the world is experiencing this year has been caused by rising energy prices.

Remember, higher oil, gas and coal prices translate into higher transportation and electricity costs, which flow through to every corner of the economy.

Here’s some of what Henricks had to say on the ASX oil share:

It would be in the energy sector, I’d pick Santos… So Santos is undertaking two large projects at the moment. Once they’re completed, you’re going to have 20 years of very stable volumes.

And it’s pricing in US$60 a barrel at the moment, current prices are around US$90, so they’re generating a lot of free cash flow. And with low multiple, real assets and inflation hedge, Santos would be the one for me.

So there you have it: an inflation-hedged investment priced at a low multiple. Well, that’s what this ASX expert reckons anyway.

Santos shares have had a solid year this year. The ASX oil share is up 9.6% year to date in 2022, and up 13.4% over the past 12 months.

At the last Santos share price, this energy share had a dividend yield of 2.7%.

The post Why Santos shares can kick inflation to the kerb: expert appeared first on The Motley Fool Australia.

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More reading

• 5 things to watch on the ASX 200 on Monday
• 5 things to watch on the ASX 200 on Thursday
• 5 things to watch on the ASX 200 on Tuesday
• 5 things to watch on the ASX 200 on Monday
• What dragged on the Santos share price today?

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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The S&P/ASX 200 Index (ASX: XJO) is full of a broad range of businesses. And some of these ASX 200 shares may be opportunities during the discount season for shopping.

Many businesses that were COVID-19 winners have turned into post-COVID losers. But I think some of the declines may have been overdone. Yes, there are likely to be earnings declines compared to strong COVID earnings. But the share prices are already down heavily.

In my view, long-term global growth could make them opportunities. Let’s check a couple out:

ARB Corporation Limited (ASX: ARB)

ARB provides four-wheel drive accessories. It boasts that its accessories were built for the harsh conditions of the Australian outback, meaning that its products are designed to be tough and withstand the extremes four-wheel drive enthusiasts may put them through.

But investors are not so enthusiastic about the ASX 200 share at the moment. Since the start of the year, the ARB Corporation share price has dropped almost 50%.

FY22 was a solid year, with 8.1% growth of net profit after tax (NPAT) to $122 million and the total dividend rising by 4.4%.

The company’s non-Australian revenue has been growing, including as a percentage of total sales. FY22 export sales grew by 17.4%.

ARB also continues to grow its store network. New car models have been released to the market. A Texas distribution centre will be opened in Dallas in January 2023 which will give ARB USA two-day shipping to the majority of the USA, while also supporting growth in Mexico and Central America.

The business said that sales in Southeast Asia, Europe, Africa and the Middle East are all “trending positively”. The collaboration with Ford has also been “well received” by customers.

However, the company is facing lower short-term sales and higher costs because of inflation. But, the order book remains healthy and it’s expecting stronger sales in the FY23 second half and into FY24.

Commsec numbers imply the ARB share price is valued at 22 times FY23’s estimated earnings.

Reece Ltd (ASX: REH)

Bathroom supplier Reece is another ASX 200 share that has suffered heavily this year. The Reece share price is down around 45% year to date. It hasn’t seen a large recovery like some other ASX shares have in the last few weeks.

But, Reece isn’t just an Australian bathroom and plumbing product business anymore. It also has a network of 204 branches in the middle and south of the US. As well, it’s involved in irrigation and pools, commercial heating, ventilation, air conditioning and refrigeration, and civil construction (including water mains, sewerage, drainage, fire services, gas mains, and telecommunications).

I think that the business is more defensive than some investors are giving it credit for (given how heavily the share price is down).

With the US business, it has a long-term strategy. It’s refurbishing stores, opening new stores, and planning to make acquisitions.

FY23 started strongly, with the first quarter showing 28.8% revenue growth to $2.28 billion. Australia-New Zealand sales were up 13.9%, while US sales grew 33.1% on a constant currency basis. While this may not be reflective over the rest of the year, it has given FY23 a strong start. The company continues to focus on controlling costs and investing for the future, though demand is expected to soften in the second half.

It’s valued at 24 times FY23’s estimated earnings according to Commsec.

The post Cyber Monday: could these ASX 200 shares be on sale? appeared first on The Motley Fool Australia.

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More reading

• 3 ASX 200 shares with enormous insider ownership
• Here are the top 10 ASX 200 shares today
• Leading brokers name 3 ASX shares to buy today
• Here are the top 10 ASX 200 shares today

Motley Fool contributor Tristan Harrison 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 ARB Corporation Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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Given how many shares to choose from on the ASX, it can be hard to decide which ones to buy. The good news is that brokers across the country are doing a lot of the hard work for you.

Three top ASX shares that leading brokers have named as buys this week are listed below. Here’s why they are bullish on them:

Fletcher Building Limited (ASX: FBU)

According to a note out of Goldman Sachs, its analysts have initiated coverage on this building products company’s shares with a buy rating and $5.90 price target. Goldman notes that Fletcher Building’s shares are trading on a forward PE ratio of 8.5x and at a 41% discount to the S&P/ASX 200 index. It points out that this is notably lower than average multiples and broadly in line with GFC levels. And while the broker accepts that its key markets are near cyclical highs, it feels this is more than priced in. The Fletcher Building share price is trading at $4.67 today.

IDP Education Ltd (ASX: IEL)

A note out of UBS reveals that its analysts have retained their buy rating on this language testing and student placement company’s shares with a slightly trimmed price target of $35.25. The broker has been looking at visa data and believes that growth in key markets points to positive trading conditions for IDP Education. Overall, it is positive on the company’s outlook and sees plenty of value in its shares at the current level. The IDP share price is fetching $29.57 on Monday.

Monash IVF Group Ltd (ASX: MVF)

Analysts at Macquarie have retained their outperform rating and $1.30 price target on this fertility treatment company’s shares. Although IVF treatments fell slightly in October according to Medicare data, the broker notes that this followed a big increase in September. In addition, Macquarie believes Monash IVF is well-placed to grow quicker than the market and grow its share. This bodes well for its earnings growth in FY 2023 and beyond. The Monash IVF share price is trading at $1.00 this afternoon.

The post Leading brokers name 3 ASX shares to buy today appeared first on The Motley Fool Australia.

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More reading

• 5 things to watch on the ASX 200 on Monday
• Are these the ASX growth shares to buy for 2023?
• 11 ASX shares that make Abrdn’s World Cup team
• Leading brokers name 3 ASX shares to buy today
• Experts name 3 of the best ASX growth shares to buy in November

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 Idp Education Pty Ltd. 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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After rising steadily for most of last week, the S&P/ASX 200 Index (ASX: XJO) has rolled out of the wrong side of the bed today. At the time of writing, the ASX 200 has slumped by 0.4%, dragging the index down to around 7,230 points.

But the week is still young. So rather than letting that get us down, let’s instead check out 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 Monday

Liontown Resources Ltd (ASX: LTR)

First share up this Monday is the ASX 200 lithium producer Liontown Resources. So far this session, a notable 17.07 million Liontown shares have been traded on the ASX.

There’s been no news out of Liontown itself today. However, we have had a few negative developments in the broader lithium space that could be playing a role here.

As my Fool colleague Monica covered this morning, there have been reports that Chinese EV battery producers will be producing more batteries than they can sell to car manufacturers by a factor of three by 2025. This doesn’t bode well for lithium prices.

Further, lithium prices could also be facing some short-term pullbacks soon too due to weakening demand for electric vehicles.

Perhaps in response to these issues, Liontown shares have plunged by a nasty 6.25% at the time of writing to $1.875 each at present. This is probably why we are seeing such strong volumes for Liontown shares this Monday.

Pilbara Minerals Ltd (ASX: PLS)

Next up is another ASX 200 lithium share – Pilbara Minerals. So far today, we’ve seen a hefty 27.42 million Pilbara shares exchanged on the market. With this company, however, we have some different news to report.

As we covered earlier this morning, Pilbara has announced a new joint venture with Calix Ltd (ASX: CXL).

This is intended to produce lithium salts with low costs and energy use. Perhaps investors are excited about this, with Pilbara shares down far less than Liontown, having lost around 1% at present to $4.415 each.

It’s this news that may have sparked the elevated volumes we are seeing.

Core Lithium Ltd (ASX: CXO)

Our last share up this Monday is… another ASX 200 lithium producer. Core Lithium is the one in question, with a sizeable 34.12 million shares having swapped hands as it currently stands. Core Lithium hasn’t been as fortunate as Pilbara today (although more fortunate than Liontown).

Its shares have lost a meaty 3.6% so far to trade at $1.287 a share. It’s likely that the same factors behind Liontown’s share price losses are also at play with Core Lithium.

It was worse around midday today too, with Core dropping as low as $1.24 a share, which was a loss close to 7% at the time. This fluctuation has probably put Core Lithium over the top today when it comes to ASX 200 trading volumes.

 

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

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More reading

• Why Bank of Queensland, Bubs, City Chic, and Liontown shares are sinking
• Up 30% in a month, why the Evolution Mining share price can keep climbing: expert
• Why is the Core Lithium share price in the red today?
• Which ASX 200 bank share stands to benefit the most from ‘good borrowers’?
• Why are ASX lithium shares getting slammed again on Monday?

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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The S&P/ASX 200 Index (ASX: XJO) is having a tough start to the week. In afternoon trade, the benchmark index is down 0.4% to 7,229.8 points.

Four ASX shares that are falling more than most today are listed below. Here’s why they are sinking:

Bank of Queensland Ltd (ASX: BOQ)

The Bank of Queensland share price is down almost 6% to $7.13. Investors have been selling this regional bank’s shares after it announced the surprise exit of its CEO, George Frazis. He has left with immediate effect and without comment. The bank revealed that the “Board has formed a view that different leadership is now required to ensure BOQ can continue to build a stronger and more resilient bank through future cycles.”

Bubs Australia Ltd (ASX: BUB)

The Bubs share price has crashed almost 12% to a 52-week low of 30.5 cents. Investors have been hitting the sell button after the infant formula company’s under-fire CEO, Kristy Carr, revealed that revenue is expected be flat during the first half. That’s despite its hyped-up US expansion and the fact that first quarter revenue grew 29%. At its annual general meeting, almost 27% of shareholder votes were against Carr being issued 1 million share rights.

City Chic Collective Ltd (ASX: CCX)

The City Chic share price is down a further 27% to 72 cents. Investors have been selling this struggling plus sized fashion retailer’s shares since the release of a terrible trading update on Friday. City Chic reported a decline in sales despite benefiting from a weaker Australian dollar. It also revealed significant margin pressures and expectations that it would end the first half with an inventory position of $168 million to $174 million.

Liontown Resources Ltd (ASX: LTR)

The Liontown share price is down almost 7% to $1.87. The weakness in the battery materials industry has continued on Monday with Liontown and a number of other lithium shares falling heavily. There are concerns over lithium demand due to rising COVID cases in China. In addition, bearish notes out of Credit Suisse and Goldman Sachs have weighed on sentiment in the industry.

The post Why Bank of Queensland, Bubs, City Chic, and Liontown shares are sinking appeared first on The Motley Fool Australia.

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More reading

• Here are the 3 most heavily traded ASX 200 shares on Monday
• Why is the Core Lithium share price in the red today?
• Why are ASX lithium shares getting slammed again on Monday?
• Why is the Bubs share price tumbling 9% to a 52-week low on Monday?
• Why has this ASX All Ordinaries share crashed 45% in 2 days?

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

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It was only last week that we covered some serious selling of Whitehaven Coal Ltd (ASX: WHC) shares by senior management. As we went through at the time, Whitehaven CEO Paul Flynn offloaded 900,000 shares on 22 November.

Flynn netted around $7.88 million from this sale. The reason for such a large dump was reportedly “for personal reasons, including to satisfy personal tax obligations arising from the issue of shares under the Company’s Equity Incentive Plan“.

Saying that, we also looked at how Flynn still retains more than a million shares, as well as some performance rights.

But today, it seems that another Whitehaven director has taken lead from the CEO. Not just any director either, but the company’s own chair. Mark Vaile has been chair of Whitehaven since 2012.

If his name sounds familiar, it might be because Vaile is also a former deputy prime minister, occupying the role between 2005 and 2007 as Leader of the National Party.

Whitehaven chair unloads $1.77 million in shares

According to the ASX filing this morning, Vaile sold 200,000 Whitehaven shares between 22 and 23 November. The sale wasn’t direct but through Vaile’s company Wendmar Pty Ltd, serving as the trustee for the Vaile Super Fund and the Mark Vaile Family Trust.

Unlike with the CEO, no specific reason was given for the trade.

This sale netted Vaile (or Vaile’s super fund and trust) approximately $1.77 million. That implies a sale price per share of $8.85.

However, like CEO Flynn, Vaile still owns a substantial stake in Whitehaven shares. This sale brings his indirect holdings in Whitehaven down from 1,509,317 shares to 1,309,317. Clearly, Vaile hasn’t let the fact that Whitehaven shares are up 244% year to date in 2022 go unutilised.

At the time of writing, Whitehaven shares are going for $9.46 each, up 4.24% for the day. Perhaps Vaile should have waited another week to make his sale.

The post The Whitehaven chair just cashed out $1.8 million in shares. Here’s the latest appeared first on The Motley Fool Australia.

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More reading

• What’s happening with ASX 200 coal shares this week?
• 5 of the craziest things making news on the ASX this week
• 8%+ dividend yields! 3 ASX 200 shares I’d snap up to beat inflation
• Three comforting lessons for investors whose portfolio has been smashed versus the surprisingly good return of the ASX 200
• Here are the 3 most heavily traded ASX 200 shares on Thursday

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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The Evolution Mining Ltd (ASX: EVN) share price has been on a tear over the past month, leaping 30%.

It’s been a solid month for ASX gold stocks overall, with the S&P/ASX All Ordinaries Gold Index (ASX: XGD) gaining 16.5% compared to the 6.5% gain posted by the S&P/ASX 200 Index (ASX: XJO).

Still, the Evolution Mining share price increase leaves those gains far behind.

But that doesn’t mean the gold miner can’t keep the good times rolling.

Why the Evolution Mining share price can keep climbing

Investment advisor at Seneca Financial Solutions Arthur Garipoli is decidedly bullish on Evolution Mining.

According to Garipoli (courtesy of The Bull), “Potentially slowing interest rate increases and a peaking US dollar should support the gold price, so we believe there’s good value in the gold sector.”

Garipoli pointed to an improving outlook at the miner’s projects, which should offer support for the Evolution Mining share price.

“Metrics at EVN projects, including the challenging Red Lake, are improving. We believe guidance is conservative,” he said. “We like the company’s outlook and see potential upside from here.”

On its quarterly report for the three months ending 30 September, Evolution maintained its production and all in sustaining cost (AISC) guidance for FY23 at approximately 720,000 ounces at a cost of around AU$1,240 (US$870) per ounce.

Evolution said its Red Lake transformation is continuing with the first stope ore mined from the upper Campbell mine having the highest-grade Ore Reserve at Red Lake. The gold grade processed at the project for the reported quarter increased by 14%.

How has the ASX 200 gold miner performed longer-term?

Like most ASX gold stocks, the Evolution Mining share price has fallen alongside gold prices in 2022, leaving the miner’s shares down 34% year to date.

But if Garipoli has it right, shareholders could see this past month’s positive trend continue into 2023.

The post Up 30% in a month, why the Evolution Mining share price can keep climbing: expert appeared first on The Motley Fool Australia.

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More reading

• Which ASX 200 bank share stands to benefit the most from ‘good borrowers’?
• Telstra share price ‘hasn’t fully captured the upside in value’: fundie
• Rio Tinto share price dips amid ‘important agreement’
• I’d drip-feed $500 a month into cheap ASX shares in this share market rally
• 3 ASX 200 shares that announced supersized dividends in November

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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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to start the week with a decline. At the time of writing, the benchmark index is down 0.4% to 7,230.8 points.

Four ASX shares that are not letting that hold them back today are listed below. Here’s why they are rising:

Atlas Arteria Group (ASX: ALX)

The Atlas Arteria share price is up 1% to $7.11. Investors have been buying this toll road operator’s shares after it announced the receipt of the approvals required to acquire a 66.67% majority interest in Skyway Concession Company. It is the concessionaire of the Chicago Skyway.

Cleanaway Waste Management Ltd (ASX: CWY)

The Cleanaway share price is up 1.5% to $2.79. This follows the release of the waste management company’s strategy update. Management expects its strategy to create a competitive advantage and leverage digitisation, as well as support margin expansion, organic growth and reduce customer churn.  In addition, the company expects to realise significant efficiency gains through business simplification.

Nick Scali Limited (ASX: NCK)

The Nick Scali share price is up 2% to $11.20. Last week, analysts at Citi responded to the furniture retailer’s annual general meeting update by retaining their buy rating and lifting their price target to $15.83. Citi notes that Nick Scali is performing notably better in FY 2023 than it was expecting. Macquarie is also positive and retained its outperform rating with an improved price target of $12.50.

Tyro Payments Ltd (ASX: TYR)

The Tyro share price is up 9% to $1.72. This also appears to have been driven by a positive reaction to an annual general meeting update by a broker. At the end of last week, Morgans retained its add rating with an improved price target of $2.05. It commented: “[W]e believe recent updates are now pointing to improved business momentum and importantly a greater focus on driving profitability. Potential corporate action also remains an area of possible upside.”

The post Why Atlas Arteria, Cleanaway, Nick Scali, and Tyro shares are pushing higher appeared first on The Motley Fool Australia.

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More reading

• Why is the Tyro share price surging 9% on Monday?
• Why I think Warren Buffett would love this ASX dividend share
• Why Nanosonics, Nick Scali, NRW, and Tyro shares are charging higher
• Why Kogan, Nick Scali, PointsBet, and Sayona Mining shares are pushing higher
• Why is this ASX 300 retail share soaring 13% 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 positions in and has recommended Tyro Payments. The Motley Fool Australia has recommended Tyro Payments. 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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Were you looking forward to the expected return to trade of BWX Ltd (ASX: BWX) shares? Well, we have some bad news.

The company seemingly dashed hopes it will end its near-three-month trading halt tomorrow, despite flagging its return only last week.

The BWX share price has been frozen at 63 cents since late August as the company works to correct issues with its yet-to-be-released financial year 2022 (FY22) earnings report.

So, what’s the latest news from the natural skin and hair care company? Let’s take a look.

Hopes BWX shares might trade tomorrow dashed

It might be a sad day for fans of BWX shares. It appears the company is no longer expecting to exit the freezer this week, as previously forecast.

As it entered its current trading halt in August, BWX said it will likely return to trade on the release of its audited FY22 earnings. More recently, it said the results were expected to drop today and its ASX suspension would likely lift tomorrow.

But today only brought disappointment for those hoping to trade BWX shares.

Instead of flicking through the company’s long-awaited accounts, the market heard the BWX board won’t release the report until it gets closer to procuring additional debt funding.

Though, it did note key parts of the audit of its FY22 financial statements have been finalised, including revenue recognition issues for FY21 and the first half of FY22, as well as the impairment of intangible assets.

The company said it has engaged strategic advisors to help procure extra debt funding. The funding will allow it to push ahead with its restructuring plans, address its inventory rundown, and continue selling its non-core assets. Today’s release stated:

While this process is well advanced, it will take time to evaluate the offers received. Until that process is further advanced and certainty of funding is secured, the board is unable to finalise the FY22 audited financial statements. The company confirms that its principal bank lender remains supportive.

Additionally, BWX revealed its chief financial officer Efee Peell has resigned, effective today. Peell is stepping down for health reasons following an extended period of leave.

The company has begun a search for her replacement. Until one is found, Birol Akdogan has stepped up to the role.

Perhaps disappointingly, there was no word of when the market might now expect the stock to return to trade. No doubt all eyes will remain on BWX shares until another update is released.

The post What on earth is going on with BWX shares? appeared first on The Motley Fool Australia.

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More reading

• 5 of the craziest things making news on the ASX this week
• ASX All Ords share BWX tipped to start trading next week after 3-month trading halt
• Another ASX All Ords company has just been hit with a cyberattack. Here’s the lowdown

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

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