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The S&P/ASX 200 Index (ASX: XJO) are on course to start the week with a small decline. In late trade, the benchmark index is down 0.1% to 7,142.5 points.

Four ASX shares that have not let that hold them back are listed below. Here’s why they are pushing higher:

Liontown Resources Ltd (ASX: LTR)

The Liontown share price is up 2.5% to $2.06. Investors have been buying this lithium share thanks to a rebound in the industry and the release of the company’s ESG report. Management notes that its ESG report reinforces its “vision to be an ESG leader and a globally significant provider of battery minerals for the rapidly growing clean energy market.”

Lovisa Holdings Ltd (ASX: LOV)

The Lovisa share price is up 2.5% to $24.43. This appears to have been driven by a broker note out of UBS. According to the note, the broker has upgraded the jewellery retailer’s shares to a buy rating with an improved price target of $29.00. This follows the release of a stronger than expected trading update last week.

Myer Holdings Ltd (ASX: MYR)

The Myer share price is up 9% to 72.5 cents. This appears to have been driven by recent news that rival David Jones is a takeover target. Investors may believe that Myer’s shares are trading at attractive multiples based on prices being touted for David Jones.

Whitehaven Coal Ltd (ASX: WHC)

The Whitehaven Coal share price is up 3% to $8.44. Investors have been buying Whitehaven Coal and other coal miners today. This follows a strong end to the week for the coal prices. According to CommSec, the coal Nymex share price rose 3.4% on Friday night. The Whitehaven Coal share price is now up over 200% since the start of 2022.

The post Why Liontown, Lovisa, Myer, and Whitehaven Coal shares are pushing higher appeared first on The Motley Fool Australia.

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More reading

• 2 ASX All Ordinaries shares hitting multi-year highs on Monday
• Leading brokers name 3 ASX shares to buy today
• Is this ASX 200 share the gift that keeps on giving?
• Why is the Lake Resources share price smashing the ASX 200 on Monday?
• Why is the Liontown share price having such a roaring start to the week?

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 Lovisa Holdings Ltd. The Motley Fool Australia has recommended Lovisa Holdings Ltd. 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 Materials Index is down 1.45% today, but three ASX mining shares are bucking the trend.

The iTech Minerals Ltd (ASX: ITM), OD6 Metals Ltd (ASX: OD6) and Victory Goldfields Ltd (ASX: 1VG) share prices are all storming higher today.

Let’s take a look at why these three mineral explorers are having such a top run today.

Victory Goldfields

The Victory Goldfields share price is soaring 17% today. Victory is exploring multiple commodities in the Cue Goldfields in Western Australia.

Late last week, Victory provided a rare earths update to the market. The company advised magnetic and gravity survey data provide grounds for a diamond drilling program at the company’s alkaline intrusion prospect. Alkaline intrusions are “engine rooms for rare earth elements and critical metals”, Victory highlighted.

OD6 Metals

The OD6 Metals share price is soaring 27% today to an all-time high. The company joined the ASX this year. OD6 Metals is exploring the Splinter Rock rare earth element (REE) project 150km away from Esperance, Western Australia. The company is also working on the Grass Patch REE project, 100km away from Esperance.

While the company has not released any recent news, earlier in November the company’s share price soared 176% in two days following “outstanding assay results” at Splinter Rock. OD6 discovered widespread, thick, clay hosted REE mineralisation at the project.

iTech Minerals Ltd 

The iTech Minerals share price is soaring nearly 16% today. iTech is exploring the halloysite-kaolinite and rare earth elements project in South Australia. The company is also developing the Campoona Graphite Deposit on the Eyre Peninsula with an aim of supplying the battery materials market.

The company recently conducted a $4.5 million capital raise to fund graphite exploration. A share purchase plan was also offered last week to raise up to $2 million. The company has drilling planned in November and December this year.

The post 3 ASX mining shares surging over 15% on Monday appeared first on The Motley Fool Australia.

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More reading

• 3 ASX mining shares that soared more than 20% today
• 3 ASX mining shares that surged over 20% Tuesday
• Guess which ASX gold share just exploded 70% on a new rare earths find
• Why has ASX mining stock OD6 Metals rocketed 176% in 2 days?
• Guess which ASX mining share just surged 100% on an ‘outstanding’ new rare earths find

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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to start the week with a small decline. At the time of writing, the benchmark index is down 0.15% to 7,141 points.

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

Fortescue Metals Group Limited (ASX: FMG)

The Fortescue share price is down 4% to $19.16. This follows broad weakness in the materials sector today, which has made it the worst performing area of the market. This may have been driven by concerns over demand in China.

Healius Ltd (ASX: HLS)

The Healius share price is down 5% to $3.16. This decline could have been driven by a broker out of Ord Minnett this morning. According to the note, the broker has downgraded the healthcare company’s shares to a lighten rating and slashed the price target on them to $2.95.

Nanosonics Ltd (ASX: NAN)

The Nanosonics share price is down 12% to $4.04. This may also have been driven by a broker downgrade. According to a note out of Morgans, have downgraded the infection prevention company’s shares to a hold rating with a $4.91 price target. The broker made the move partly on valuation grounds.

PEXA Group Ltd (ASX: PXA)

The PEXA share price is down 4% to $13.64. Investors have been selling this property settlement platform provider’s shares after its major shareholder, Link Administration Ltd (ASX: LNK), sold down its holding. Link has sold the equivalent of a 4.3% stake in PEXA for a 4.8% discount of $13.50 per share. Link generated total net proceeds of $101.9 million from the sale. It will now distribute the majority of its remaining shareholding to Link shareholders via an in-specie distribution.

The post Why Fortescue, Healius, Nanosonics, and PEXA shares are dropping appeared first on The Motley Fool Australia.

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More reading

• Why is the Rio Tinto share price trailing the ASX 200 on Monday?
• Why is the Fortescue share price getting hammered on Monday?
• Why is the Nanosonics share price crashing 12% today?
• Of all the ASX 200 miners, here’s why I decided to buy Fortescue shares
• Link share price higher on PEXA update

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 Link Administration Holdings Ltd, Nanosonics Limited, and PEXA Group Limited. The Motley Fool Australia has positions in and has recommended Nanosonics 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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What a disappointing start to the trading week it has been for the S&P/ASX 200 Index (ASX: XJO) so far this Monday. 

After initially rocketing upwards at market open this morning, the ASX 200 has been losing steam all day. The index is presently down by a rather sad 0.14%, putting it at just over 7,140 points.

But let’s not let that get us down. So instead, it’s time to take a look at the shares currently topping the ASX 200’s share trading volume charts, according to investing.com.

The 3 most traded ASX 200 shares by volume this Monday

South32 Ltd (ASX: S32)

First share up today is the ASX 200 miner South32. This Monday has seen a sizable 14.94 million South32 shares fly around the stock exchange at this point of the day. There’s been no fresh news or announcements out of South32 so far this session, save for a routine share buyback announcement.

So this volume is a probable consequence of the nasty fall South32 has endured today. The miner is currently down 1.02% at $3.87 a share, but South32 fell as low as $3.82 earlier this afternoon.

Pilbara Minerals Ltd (ASX: PLS)

ASX 200 lithium miner Pilbara is our next share to check out. This Monday has had a notable 15.51 million Pilbara shares swapped on the share market thus far. There’s been no news or developments out from Pilbara either.

But this is another ASX 200 share that has seen some significant volatility this session. Pilbara shares initially started the week strong, rising to $4.88 this morning. But investors seem to have gotten cold feet, with the lithium company now down by 0.42% at $4.74 a share. All of this bouncing around is probably eliciting the high volumes we see.

Core Lithium Ltd (ASX: CXO)

Last up today, we have another ASX 200 lithium share in Core Lithium. So far today, a hefty 25.58 million Core shares have been bought and sold on the markets. Core shares had a horrid week last week.

But, as my Fool colleague pointed out today, this week seems to have provided a fresh page for the company. Core Lithium shares are presently up a healthy 0.86% at $1.41 each.

Like Pilbara Minerals, Core shares have been volatile today, trading between $1.40 and 1.47 apiece this session. This is the likely culprit behind the high volumes on display. 

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 is the Rio Tinto share price trailing the ASX 200 on Monday?
• Why is the Lake Resources share price smashing the ASX 200 on Monday?
• Core Lithium share price leaps higher for first time in 5 trading sessions
• 3 ASX 200 shares that hiked their dividends by more than 100% this year
• Of all the ASX 200 miners, here’s why I decided to buy Fortescue shares

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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Coles Group Ltd (ASX: COL) shares often command the market’s attention. As its one of the S&P/ASX 200 Index (ASX: XJO)’s largest consumer staples stocks ­– boasting a market capitalisation of $23 billion – many market watchers likely wonder whether it’s worth buying.

Particularly, as the supermarket operator’s shares offer a notably better dividend yield than those of its larger peer Woolworths Group Ltd (ASX: WOW).

But are Coles shares worth buying for the dividends alone? Let’s take a look at what experts think.

Right now, the Coles share price is $17.19.

Are Coles shares an ASX 200 dividend buy?

The Coles share price has outperformed that of Woolworths so far this year, falling 4% to the latter’s 9% tumble. That may have led some to consider the ASX 200 supermarket operator over Woolies.

That’s certainly the preference of broker Morgans. It recently said:

Trading on 20.6x [financial year 2023 forward price-to-earnings (P/E) ratio] and 4% yield, we continue to see [Coles] as offering good value with the company’s solid balance sheet and defensive characteristics putting it in a good position to navigate through a weaker economic environment. 

Morgans tips Coles shares to rise to $19.50, slapping it with a buy rating, my Fool colleague James reports. That represents a potential 13% upside.

Additionally, the broker expects Coles to pay out 64 cents of dividends per share this financial year and 66 cents per share next.

For reference, it offered shareholders 63 cents per share in financial year 2022, leaving it with a 3.66% dividend yield at the time of writing. That’s likely music to the ears of investors looking for growing dividends.

Comparatively, Woolies stock trades with a 2.63% yield right now. Both supermarket operators offer fully-franked dividends, meaning they can bring additional benefits to some investors come tax time.

Thus, a dividend-focused investor might favour Coles as the supermarket share to buy at the moment.

Though, it’s worth noting that Goldman Sachs tips Coles as a sell, placing a $15 price target on its stock. It prefers Woolworths shares.

The post Are Coles shares worth buying for dividends right now? appeared first on The Motley Fool Australia.

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More reading

• Experts name 2 ASX shares with fully franked dividend yields to buy next week
• If you’d bought $10,000 worth of Wesfarmers shares in January, this is how much you’d have earned in dividends
• Which stocks are in the Vanguard Australian Shares Index ETF (VAS) right now?
• How to have your ASX 200 dividend cake and eat it too
• Here’s how much dividend income $10,000 worth of Coles shares will get you today

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 Goldman Sachs. The Motley Fool Australia has positions in and has recommended COLESGROUP DEF SET. 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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NIB Holdings Limited (ASX: NHF) shares are pushing higher again on Monday.

At the time of writing, the private health insurer’s shares are up almost 1% to $7.20.

This adds to the decent gains NIB’s shares have made since the Medibank Private Ltd (ASX: MPL) cyber incident became public.

How much have NIB’s shares risen since the incident?

First things first, the NIB share price actually sank 12% on the day that Medibank’s hack was announced.

However, that was primarily due to the company raising $150 million to support its expansion into the NDIS market.

NIB raised the funds at $6.90 per new share, which represents an 8.1% discount to its last close price.

So, if we take this out of the equation, you could argue that the NIB share price fell 3.9% in response to news of Medibank’s hack. Investors may have feared that the hackers could have infiltrated their systems as well. But this ultimately wasn’t the case.

So, after accounting for the capital raising, the NIB share price has gained somewhere in the region of 4.5% since the incident. Whereas the Medibank share price has gone the other way and lost almost 20% of its value since the hack was announced.

That’s a relative outperformance of approximately 24% for NIB’s shares. I know which private health insurer I would’ve wanted in my portfolio!

Can its shares keep rising?

The good news for investors is that one leading broker believes the NIB share price can keep rising.

According to a note out of Morgans, its analysts have retained their add rating with an improved price target of $8.54. This implies potential upside of almost 19% for investors over the next 12 months.

Morgans was impressed with the company’s strong start to FY 2023 and has been forced to upgrade its earnings estimates to reflect this. It explained:

We lift NHF FY23F/FY24F EPS by 11%/2% reflecting more favorable underlying growth trends than expected and also a lift to investment income assumptions. Our PT rises marginally to A$8.54 (previously A$8.27).

Overall, the broker believes NIB’s outlook is positive and its shares are trading at an attractive level. It concludes:

NHF is a well-run company, and the near-term operating environment remains favourable for its key Australian Residential Health Insurance business (assisted by a benign claims environment). Covid-19 headwinds that were affecting some of NIB’s other businesses, e.g. IIHI and Travel etc. also appear to be easing. With NIB trading at a >10% discount to our target price, we maintain our ADD call.

The post Guess how much NIB shares have gained since Medibank’s cyber attack? appeared first on The Motley Fool Australia.

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More reading

• Leading brokers name 3 ASX shares to buy today
• Top 10 signs you’ve been crypto-scammed
• Here are the top 10 ASX 200 shares today
• NIB share price surges ahead as profits soar 31%
• Why are Medibank shares lifting on Wednesday?

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 NIB Holdings 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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S&P/ASX 200 Index (ASX: XJO) bank shares have received a lot of airtime in the financial media in the latter half of 2022 amid the new dawn of rising interest rates.

When the Reserve Bank of Australia (RBA) lifted rates from the historic low 0.10% to the still rock bottom 0.35% in May, it represented the first tightening from the central bank in more than a decade.

As rates continued to march higher to today’s 2.85%, with more hikes likely, investors have sought out shares that are more likely to outperform in a higher rate environment.

You’ll often find ASX 200 bank shares on that list. That’s because higher rates enable big bank stocks like Australia and New Zealand Banking Group Ltd (ASX: ANZ), National Australia Bank Ltd (ASX: NAB), Westpac Banking Corp (ASX: WBC) and Commonwealth Bank of Australia (ASX: CBA) to increase their net interest margins.

Yet, as rates ratchet ever higher, that NIM benefit stands to be outweighed by increasing levels of bad debts among the bank’s stressed customers.

So are ASX 200 bank shares in for some turmoil ahead or a buying opportunity hiding in plain sight?

Are ASX 200 bank shares a buying opportunity?

According to analysts at Citi, the big banks are well positioned to handle the coming increase in non-performing loans.

That’s not to say Citi doesn’t expect to see more borrowers default. Its analysts are forecasting a “material pick-up in new impaired assets”. However, the broker believes the banks have prepared for that pick-up by increasing their provisions.

According to Citi (courtesy of The Australian):

Despite better revenues than expected, [ASX 200] banks’ share prices have had muted reactions, with investors’ minds likely looking forward to the impact on asset quality… Unlike past BDD events (GFC, Covid), stress coming from higher rates is an event the banks are anticipating. Consequently, collective provisions are very full, and incremental stress will flow through the individual provision.

Citi has a bullish outlook on the ASX 200 banks when compared to other sectors in the face of economy-hindering high inflation and rising interest rates.

“With bank balance sheets anticipating pending stress in the economy, as opposed to other sectors, we think it should hold them in a good relative position,” the analysts said.

Citi added:

[Investors need] to draw a distinction between the deterioration in asset quality (which we agree with), and how it plays through the banks profit and losses. Our forecasts don’t imply that the credit stress may be lower than what many expect, only that the provisions are largely prepared for the anticipated event.

How have the big banks fared since rates have started rising?

Over the past six months, the ASX 200 is down a slender 0.2%.

As for the big bank shares, the CBA share price is up 1.8%; Westpac shares are up 2.1%; the NAB share price has dipped 0.3%; and ANZ shares are down 1.6%.

If Citi has this right and ASX 200 investors have been overly pessimistic about the coming rise in bad debts, the big bank shares could indeed prove to be an opportunity hiding in plain sight.

The post Are ASX 200 bank shares a buying opportunity hiding in plain sight? appeared first on The Motley Fool Australia.

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More reading

• If I’d invested $1,000 in Westpac shares at the start of 2022, here’s how much I’d have now
• What does this top broker have against ANZ shares?
• 3 reasons why I think it’s time to snap up NAB shares
• Why these 3 ASX 200 shares have done ‘particularly well’ and remain top holdings into 2023: fund manager
• Time to buy? Which ASX 200 shares are trading on single-digit P/E ratios?

Citigroup is an advertising partner of The Ascent, a Motley Fool company. 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 recommended Westpac Banking Corporation. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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It’s been a disappointing day of trading for the All Ordinaries Index (ASX: XAO) so far this Monday, kicking off the trading week on a rather sour note. After initially spiking this morning, the All Ords is presently in the red, down by 0.24% at just under 7,340 points.

But the BrainChip Holdings Ltd (ASX: BRN) share price is doing even worse than that. Brainchip shares have slumped in value so far today. The ASX artificial intelligence company has taken a 2.02% dip at this point of today’s session. That puts Brainchip at 63 cents a share.

This might be especially disappointing for investors this Monday, given the corporate announcement that Brainchip released yesterday.

Brainchip share price struggles despite new Amazon recruitment

The company announced that it has recruited Nandan Nayampally as chief marketing officer. Nayampally’s role will inove driving “all aspects of marketing, product management and business strategy for the company’s Akida TM event-based AI neural processor IP, and its portfolio of Essential AI enabling technology solutions”.

The crown jewel of Nayampally’s curriculum vitae had a former role at US tech giant Amazon.com Inc (NASDAQ: AMZN). Here, Nayampally reportedly “helped accelerate the adoption of Alexa Voice and other multimodal services into third-party devices”.

Here’s some of what Brainchip CEO Sean Hehir had to say on recruiting Nayampally to the company:

Nandan has a deep technical understanding of semiconductor design and IP as well as the market factors that lead to product success… We look forward to leveraging his product experience and executive success at companies like Arm and Amazon to help us deliver BrainChip solutions to the market.

Nayampally added this:

I am excited to join BrainChip. Our unique approach to performant and efficient edge AI at scale is a great enabler for an industry that is looking for innovative and transformative solutions…

It is a great opportunity to not only advance product intelligence at the sensor and the edge but unleash the full power of AI. BrainChip is positioned to create that positive change and I’m thrilled to be a part of making that happen.

But it doesn’t seem like investors are too impressed by this announcement, judging by the performance of the Brainchip share price this Monday.

Brainchip shares have copped a nasty beating over 2022. The company remains down 20% year to date. As well as down more than 73% from the record high of $2.34 a share that we saw back in January.

The post BrainChip share price dips despite ex-Amazon hire appeared first on The Motley Fool Australia.

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More reading

• Does Amazon’s latest healthcare move make the stock a buy?
• Why Amazon stock fell today
• Is Weebit Nano a cheaper buy than BrainChip shares right now?
• Is Amazon’s AWS creating a once-in-a-decade buying opportunity for the stock?
• Amazon unveils new healthcare service: Is the stock a buy?

John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Motley Fool contributor Sebastian Bowen has positions in Amazon. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Amazon. The Motley Fool Australia has recommended Amazon. 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 a rough day for the All Ordinaries Index (ASX: XAO), but two of the shares that call it home are having a party.

They’ve soared as much as 9% today to hit new multi-year, or all-time, highs. Meanwhile, the benchmark index has slipped 0.34% at the time of writing.

So, without further ado, here are the All Ordinaries shares leaping to long-forgotten highs on Monday.

2 ASX All Ordinaries shares trading at their highest in years

The share price of department store operator Myer Holdings Ltd (ASX: MYR) is leaping on Monday despite the company’s silence.

It is sitting at a high of 74 cents at the time of writing – marking a 10.5% gain on the previous close and its highest point since April 2019.

The latest happening was the company’s appointment of Terrence McCartney to its board earlier this month. McCartney was nominated to join the board by major Myer shareholder Premier Investments Limited (ASX: PMV), headed by Solomon Lew.

At its annual general meeting (AGM) last fortnight, Myer also revealed the first 13 weeks of financial year 2022 was its best start to a fiscal year on record.

Another All Ordinaries share hitting multi-year highs on Monday is Supply Network Limited (ASX: SNL). Indeed, stock in the aftermarket automotive parts supplier reached its highest level ever earlier today.

It soared 5.8% to trade at a record $12.18 at its intraday high before sliding back down again. Right now, Supply Network shares are trading just 0.78% higher at $11.60.

Interestingly, there’s been no news from the company this month. The last time the market heard price-sensitive news from the stock was way back in August.

Then, it dropped its audited results for the 12 months ended 30 June, posting a 22% year-on-year jump in revenue and a 44.6% increase in after-tax profits, coming in at $198.5 million and $20 million, respectively.

The post 2 ASX All Ordinaries shares hitting multi-year highs on Monday appeared first on The Motley Fool Australia.

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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 Supply Network Limited. The Motley Fool Australia has positions in and has recommended Supply Network Limited. The Motley Fool Australia has recommended Premier Investments 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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The Rio Tinto Limited (ASX: RIO) share price is struggling today, down 2.54% in afternoon trade.

Shares in the mining giant currently trade for $103.68 each.

By comparison, the S&P/ASX 200 Index (ASX: XJO) is having a much better start to the week at just a 0.27% loss for the day so far.

So why is Rio Tinto struggling to keep up with the ASX 200 on Monday? Let’s take a look at what’s happening.

What’s going on with the Rio Tinto share price?

There’s no news from Rio Tinto this morning to justify its shares slipping into the red. But some negative momentum could be carrying over from last week to put pressure on its valuation.

Last Friday Rio Tinto announced a snag in its deal to acquire Turquoise Hill Resources. This came in the form of ending its agreements with Turquoise Hill minority shareholders Pentwater Capital Management and SailingStone Capital Partners.

The agreements were terminated due to concerns raised by the shareholders over dissent and dispute resolution provisions found in their contracts.

These shareholders previously said they would use their dissent rights and withhold their votes to more easily allow Rio Tinto to acquire a 49% stake in Turquoise Hill’s business. Without their support, it may make it more difficult for the company to smoothly proceed with its acquisition, along with putting some negative sentiment on its share price.

The materials sector is struggling

The underperformance of the materials sector could also be helping to drag the Rio Tinto share behind the broader market in today’s trading session.

This is reflected in the S&P/ASX 200 Materials Index (ASX: XMJ) being down 1.65%. That puts it down the bottom with the worst-performing sector indices since market open today.

Some other notable ASX materials shares taking a beating include Fortescue Metals Group Limited (ASX: FMG), which is down 3.8%. Meanwhile, BHP Group Ltd (ASX: BHP) is slipping 2.2% this afternoon.

Thus Rio Tinto could be falling behind the ASX 200 due to macro as well as company-specific factors on Monday.

Rio Tinto share price snapshot

The Rio Tinto share price is up 3.57% year to date. While the S&P/ASX 200 Index is doing far worse at a 4.2% loss for the same period.

The company’s market capitalisation is around $39.4 billion.

The post Why is the Rio Tinto share price trailing the ASX 200 on Monday? appeared first on The Motley Fool Australia.

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Motley Fool contributor Matthew Farley 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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