Tag: Motley Fool

“Investing is simple, but not easy.” Anyone who has attempted to add to their portfolio this year will likely have felt these words uttered by Warren Buffett deeply.

Even after the recent market rally, Australia’s pre-eminent benchmark — the S&P/ASX 200 Index (ASX: XJO) — is down 6% since 21′ ticked over to 22′. Only 58 companies of the top 200 have escaped the red-painted perils of scorching hot inflation, blistering rate rises, and tectonic sentiment shifts. That means 71% of the biggest and most-established companies the ASX has to offer have delivered a negative return in 2022 so far.

What is most unsettling is that even highly regarded companies have experienced share price falls in excess of 20% during this time. Take the likes of REA Group Limited (ASX: REA), Sonic Healthcare Limited (ASX: SHL), and Domino’s Pizza Enterprises Ltd (ASX: DMP), which have descended by around 27%, 28%, and 48% respectively.

Sadly, these are the circumstances that can lead to restless nights. Hours lying awake, staring at the ceiling, pondering the possibilities of more financial pain. This is a telltale sign that some changes should be made to your ASX share portfolio.

Here are my three downright cinch ways to get the best shut-eye in a volatile market.

My 3 steps to sleeping like a baby in an ASX share sell-off

Ideally, these three actions would be taken prior to the share market being engulfed by selling. However, the second-best time is now.

1. Reassess your risk

Generally, if your ASX share portfolio is keeping you up at night there’s a good chance there’s a mismatch between the risk you’re comfortable with and the risk present in your investments.

It can be difficult, but the most valuable decision one can make in investing is to have an honest conversation with oneself. When it comes to understanding your risk tolerance, there are two important questions: What is your time horizon? And how much are you willing to lose?

Many will be tempted to overestimate their risk tolerance, justifying a higher potential return. However, it is critical to think about the answers honestly and sincerely. It can be helpful to pose the question differently, asking: if I invested X amount and it fell by Y percent, what difference would that make to my life, and am I okay with that?

Keep analysing those hypothetical scenarios until you reach one where you would be comfortable with the potential downside — your ASX share portfolio should reflect this.

2. Spread your portfolio

The temptation to go all-in on one or two supposed ‘guaranteed’ 100X ASX shares is always alluring. However, taking such an approach to investing greatly reduces the chances of capturing the magic of compounding.

In my opinion, there are two types of investors in the world: those who occasionally pick big losers, and those who don’t admit they do. The odds are you will experience a bad investment. Your mission is to ensure it doesn’t undo all your progress overall.

No matter how ‘sure’ of a moneymaker one ASX share might appear to be, diversification is of paramount importance. In short, avoid holding a significant portion of your personal wealth in any one equity investment.

Now, a ‘significant portion’ will differ from person to person, but a good rule of thumb is keeping a single position below 25%, for even the most risk-tolerant investors.

3. Lose the leverage, get rich slow

Leverage… Some people love it, some people hate it. I personally think that the expeditious path is rarely ever worth its associated risks.

If your ASX share portfolio is keeping you up at night, it’s probably a good time to do away with the debt. Not using leverage? Don’t even consider it if your non-geared portfolio is already giving you night terrors. Ultimately, the choice is yours. I can’t offer personal financial advice — though, I’d quote Buffett for my view here:

Never risk what you have and need for what you don’t have and don’t need.

Enjoy a more restful night!

The post Stressed about your ASX share portfolio? I’d take these 3 dead-simple steps to sleep easy appeared first on The Motley Fool Australia.

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• Why did the Treasury Wine share price crack a new multi-year high on Tuesday?
• Here are the top 10 ASX 200 shares today
• It’s not all bad news for ASX All Ords shares on Tuesday. Here are some major winners
• Here are the 3 most traded ASX 200 shares on Tuesday
• Why is the Pilbara Minerals share price tumbling 10% on Tuesday?

Motley Fool contributor Mitchell Lawler has positions in Sonic Healthcare Limited. 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 Dominos Pizza Enterprises Limited, REA Group Limited, and Sonic Healthcare 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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This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

Facebook rebranded itself as Meta Platforms (NASDAQ: META) on Oct. 28, 2021. Since that fateful day, Meta’s stock declined more than 60% as it repeatedly disappointed its investors with its sluggish growth, feverish spending, and opaque plans for the future. Rising interest rates and other macro headwinds exacerbated that painful sell-off.

That crash stunned many investors who considered Meta to be reliable blue-chip tech stock. Let’s compare the main reasons to buy, sell, and hold Meta to see if this out-of-favor tech giant will finally bounce back in 2023.

The main reasons to sell Meta

Before we discuss Meta’s turnaround potential, we should review why its stock collapsed over the past year. First, the growth of its core advertising business stalled out for three main reasons: 1. Apple‘s (NASDAQ: AAPL) iOS update crippled its targeted ads; 2. ByteDance’s TikTok lured users and advertisers away from Facebook and Instagram; and 3. The macroeconomic headwinds disrupted the growth of the broader advertising market.

Meta aggressively invested in the expansion of Instagram Reels to counter TikTok, but it warned that those short videos would be more difficult to monetize than its Feed-based ads. But instead of streamlining its business to offset those costs, Meta doubled down on expanding its Reality Labs segment, which houses its virtual reality products. That segment’s revenue rose less than 3% year over year to $1.43 billion in the first nine months of 2022, but its operating loss widened from $6.89 billion to $9.44 billion. During last quarter’s conference call, Meta’s CFO Dave Wehner warned that the Reality Labs division’s operating losses would still “grow significantly year over year” in 2023 as it rolls out its next Quest headset. Wehner also estimated that Meta’s total expenses would rise from $85 billion-$87 billion in 2022 to $96 billion-$101 billion in 2023.

That toxic mix of slowing growth and rising expenses drove away the bulls. Analysts expect its revenue and earnings to drop 2% and 33%, respectively, this year. For 2023, they expect its revenue to rise 5% — but for its earnings to tumble another 15% as its expenses continue to climb. We should take those estimates with a grain of salt, but we should also recall that Meta’s insiders sold nearly four times as many shares as they bought over the past 12 months.

The main reasons to buy or hold Meta

The bulls believe Meta’s stock is a screaming bargain at 12 times forward earnings. That makes it the cheapest FAANG stock by a wide margin. They’ll also note that Meta’s recent decision to lay off 13% of its staff, or about 11,000 employees, indicates CEO Mark Zuckerberg is finally ready to make some tough calls to stabilize its near-term margins. In an open letter to his employees, Zuckerberg said Meta needed to “become more capital efficient” to cope with the “macroeconomic downturn, increased competition, and ads signal loss.” In addition to those layoffs, Zuckerberg said Meta was also “scaling back budgets, reducing perks, and shrinking our real estate footprint” as it prioritized the growth of its core businesses.

Those statements suggest that Meta will pour a lot less cash into its money-losing Reality Labs division while prioritizing the development of better first-party data mining services (which could reduce its dependence on third-party data from Apple or other operating system providers) and the expansion of Instagram Reels to keep pace with TikTok.

During Meta’s last conference call, Dave Wehner said the company was “working to close” the monetization gap between Reels and its higher-value Feed and Stories, but that it could take another 12 to 18 months to do so. That process could be accelerated significantly if the U.S. Government finally bans TikTok over its ties to the Chinese government.

Meta’s growth will likely remain sluggish over the next few quarters, but the worst-case scenario has arguably been priced in. Meanwhile, the potential tailwinds for the tech giant — including a revival of its ad business with first-party data, the downsizing (or complete shutdown) of Reality Labs, and a national ban on TikTok — aren’t reflected in its current valuation yet. If the market merely values Meta at 18 times forward earnings, its stock price could easily rise about 50%.

Which argument makes more sense?

I personally think it’s too late to sell Meta at these levels, especially if cooler inflation drives stocks higher over the next few months. Meanwhile, investors who already own Meta’s stock should probably simply hold it for a few more quarters and see if its business improves or deteriorates. However, I also think it’s still too risky to buy Meta’s stock before a few green shoots actually appear. Therefore, I believe Meta will be a stock to hold — instead of being too bearish or bullish on — in 2023.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

The post Meta Platforms stock: Buy, sell, or hold in 2023? appeared first on The Motley Fool Australia.

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Leo Sun has positions in Apple and Meta Platforms, Inc. Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool’s board of directors. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Apple and Meta Platforms, Inc. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended the following options: long March 2023 $120 calls on Apple and short March 2023 $130 calls on Apple. The Motley Fool Australia has recommended Apple and Meta Platforms, Inc. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

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The AVZ Minerals Ltd (ASX: AVZ) share price was scheduled to return from its six-month suspension on Tuesday.

However, the lithium developer has still not finalised the legal wrangle that is holding up the finalisation of the mining and exploration rights for the Manono Lithium and Tin Project in the Democratic Republic of the Congo (DRC).

As a result, the company has requested that its shares remain suspended for a further 30 days. It commented:

The Company advises that the subject of the initial trading halt request remains incomplete and requests a further extension to the voluntary suspension until the commencement of trade on 15 December 2022 or an earlier announcement to the market regarding its mining and exploration rights for the Manono Project.

What’s actually happening?

AVZ is currently facing arbitration proceedings from China’s Jin Cheng Mining in relation to an ownership dispute.

Jin Cheng claims it owns a portion of the Manono Project, whereas AVZ denies this.

The company provided an update on matters last month. That update revealed that the DRC Tribunal granted a request by Dathomir Mining Resources for the interim suspension of the sale of a 15% interest in the Manono Lithium Project to AVZ.

AVZ believes this action is incorrect, stating: “AVZI duly completed each of the Dathomir SPAs in August 2021, including payment within the required time period, and thereby legally acquired a further 15% interest in Dathcom.”

Furthermore, as far as management is concerned, it “retains legal title to a 75% interest in the Manono Project and its pre-emptive rights over the balance of the Project.”

What’s next for AVZ?

On Thursday, the company is holding its annual general meeting in Perth.

It certainly will be interesting to see how shareholders vote on items such as the remuneration report.

Stay tuned for that!

The post AVZ Minerals trading halt extended again. What is going on? appeared first on The Motley Fool Australia.

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• The trading halt on AVZ Minerals shares has been extended again. Here’s the latest
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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.

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The Qantas Airways Limited (ASX: QAN) share price suffered some turbulence today. It managed to finish 0.2% higher, however, at one point it was down around 1.4%. But, it recovered during the afternoon.

To put that in context, the S&P/ASX 200 Index (ASX: XJO) ended the day down 0.1%.

Looking at some of the other air-related ASX shares, the Air New Zealand Limited (ASX: AIZ) share price rose by 0.7% and the Auckland International Airport Limited (ASX: AIA) share price climbed 0.6%.

I think it’s also interesting to note what happened with the oil and gas ASX shares because a higher oil price is a good thing for the oil businesses but not so good for the airlines, and vice versa when the oil price goes lower. Today, the Woodside Energy Group Ltd (ASX: WDS) share price fell 1.4% and the Santos Ltd (ASX: STO) share price declined 0.3%.

Trouble ahead for the Qantas share price?

According to reporting by The Australian, the ASX travel share warned that existing “marginal” flight routes and services may be shut down if the current proposed industrial relations reform is passed. It was reported that Qantas claimed the change would “destroy demand” for flying because of higher costs.

In a submission to the Senate inquiry, Qantas said it would plunge the aviation sector back 40 years, which would mean a “cascade” of job losses and less flying. The airline said:

The Bill places at risk a vigorously competitive, efficient and innovative Australian aviation industry.

For the Qantas Group, it will almost certainly mean less flying because costs will rise and demand will be destroyed – particularly on marginal routes. This will result in less investment and fewer jobs in aviation, with a flow on effect for communities and tourism.

This is not catastrophising because we have seen a version of this before under Australia’s centralised wage-fixing model in the 1970s.

The airline suggested that multi-employer bargaining would essentially become industry-wide agreements that would “undermine the viability of many enterprises” according to reporting by The Australian.

Recent movements

Over the past month, the Qantas share price is flat. However, since the start of the year, the airline has seen a rise of 13%.

The post Why did the Qantas share price face headwinds today? appeared first on The Motley Fool Australia.

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More reading

• Why did the Qantas share price have such a lousy start to the week?
• Are ASX share investors getting their mojo back?
• How does a weak Aussie dollar impact Qantas shares?
• Macquarie tips $800m buyback for Qantas shares
• Qantas boss says ‘we’re back’, but should you buy the ASX airline share?

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 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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Three ASX mining shares defied the sell-off in the materials sector on Tuesday.

The S&P/ASX 200 Materials Index (ASX: XMJ) was today’s second-worst-performing sector index, losing 1.01% by market close. ASX 200 lithium shares were hit particularly hard, with the Core Lithium Ltd (ASX: CXO) share price dumping a massive 15.82% by the day’s end.

But back to our big-moving little miners, which also outperformed the broader market by a large margin. The S&P/ASX 200 Index (ASX: XJO) didn’t move much at all today, finishing the session with a 0.07% loss.

Let’s uncover why these mining shares were off to the races on Monday.

Victory Goldfields Ltd (ASX: 1VG)

The Victory Goldfields share price finished Tuesday’s trade up by a sizeable 30.56%.

Earlier in the session, shares of the gold junior exploded over 70% after the company posted news regarding a new discovery of not gold, but rare earths (REE).

Victory Goldfields revealed the drilling results from its North Stanmore REE project located in Western Australia, which included high-grade heavy rare earth oxide (HREO) yields.

The discovery was described as being ‘significant’ as it’s up to 350% more valuable than previously reported deposits.

Victory Goldfields executive director Brendan Clark commented that the discovered grades and ratios “potentially make the discovery one of the most valuable ionic clay hosted rare earth systems compared to our peers based on our high basket price.”

Lycaon Resources Ltd (ASX: LYN)

The Lycaon Resources share price also gained an impressive 32.26% on Tuesday.

The mineral explorer announced this morning it had entered into a binding heads of agreement to acquire the Stansmore Carbonatite Project located northwest of Alice Springs.

Elements explored at the site are niobium and rare earths.

The company’s technical director, Thomas Langley, described the news as “an exciting opportunity for Lycaon”.

Lycaon Resources is a microcap ASX mining share with a market cap of just $14.5 million.

BBX Minerals Ltd (ASX: BBX)

Finally, BBX Minerals ended Tuesday’s trade up by 23.68%.

There was no news from the company today, but shares could be surging higher on the euphoria of yesterday’s announcement.

The mineral explorer reported that recent bioleaching test work had delivered impressive results. BBX Minerals reported that there was a “significant increase in reported precious metals following [the] bioleaching process”.

Further studies are underway that will include assay results using a larger sample size.

The technology will reportedly help with “metal extraction from low-grade ores and mineral concentrates”.

The post 3 ASX mining shares that surged over 20% Tuesday appeared first on The Motley Fool Australia.

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More reading

• Guess which ASX gold share just exploded 70% on a new rare earths find
• 3 tiny ASX shares that exploded over 30% on big news today

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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The S&P/ASX 200 Index (ASX: XJO) bank share sector is a competitive space. There are a number of major players, as well as smaller competitors.

Most people have probably heard of Commonwealth Bank of Australia (ASX: CBA), National Australia Bank Ltd (ASX: NAB), Westpac Banking Corp (ASX: WBC) and Australia and New Zealand Banking Group Ltd (ASX: ANZ).

But, how are we supposed to know which bank is better than the others?

There are a number of different things to look at such as the dividend yield, price/earnings (P/E) ratio, price-to-book ratio and so on.

Now that CBA has just revealed its FY23 first quarter, we have some of the most up-to-date information about the banks and their performance.

For a bit of guidance about which ASX 200 bank share may be the best to own, let’s have a look at the view of the investment team from the Perennial Value Australian Shares Trust, which has outperformed the S&P/ASX 300 Accumulation Index (ASX: XKOA) by an average of 3.7% per annum over the past two years.

Banking opinion

The Perennial team noted that in October, its bank holdings outperformed. It was pointed out that the rally started when the Bank of Queensland Limited (ASX: BOQ) said that the benefit from rising interest rates was going to be larger than expected.

Perennial also said that the ANZ result included that benefit as well, showing that credit quality remains “very strong”, with no signs of stress “at present” – this is consistent with the “ongoing strength in the Australian economy.”

The fund manager said that the revenue environment for the banks is the “best it has been in a very long time”. However, margins are “likely to come under pressure again as funding costs rises.”

Banks are feeling the pinch of rising costs, with the ANZ result showing that wage expenses are going up.

On top of that, Perennial said that “it is likely that there will be an increase in bad debts from the current very low levels, as interest rate rises flow through the economy.”

Which is the best ASX 200 bank share?

The fund manager said that, overall, the trust’s holdings represent a neutral position in the banking sector.

However, it does have a larger weighting to NAB which is “performing well operationally and is exposed to the strong growth in business lending.”

It also has an overweight position on the Westpac share price because it “has significant upside should its turnaround be successful.”

However, it’s underweight on the CBA share price because of its “unjustifiable valuation premium” and it called ANZ shares the “weakest franchise”.

Recent results

For investors that didn’t see the most recent results, CBA said that it generated cash net profit after tax (NPAT) of $2.5 billion, up 2%, with income rising 9% and underlying expenses increasing 4.5%.

In the NAB FY22 result, it grew its statutory net profit by 8.3% to $6.89 billion and cash earnings increased by 8.3% to $7.1 billion.

The post ASX 200 bank shares: fundie picks winners and losers of the big four appeared first on The Motley Fool Australia.

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More reading

• Why Allkem, Core Lithium, Flight Centre, and NAB shares are dropping today
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• Why is the Pilbara Minerals share price tumbling 10% on Tuesday?
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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 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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The Arafura Rare Earths Ltd (ASX: ARU) share price was out of form on Tuesday.

The rare earths developer’s shares ended the day 1.5% lower at 35 cents.

This was driven by weakness in the materials sector, which offset the release of a positive announcement this afternoon.

The S&P/ASX 200 Materials index fell 1% on Tuesday amid significant weakness in the battery materials industry.

What’s happening with the Arafura share price today?

This afternoon, Arafura revealed that the Mining Management Plan (MMP) for its 100% owned Nolans Neodymium-Praseodymium (NdPr) project has been approved by the Northern Territory Government.

Deputy Chief Minister and Minister for Mining and Industry, the Hon Nicole Manison, advised that the application for an authorisation of the Nolans Rare Earth Project under section 36 of the Mining Management Act 2001 has been approved and authorisation 1127-01 granted.

This mining authorisation allows Arafura to mine, construct, and operate the Nolans Project.

Arafura’s managing director, Gavin Lockyer, was pleased with the news. He said:

This approval validates the enormous amount of hard work undertaken since ramping up the Environmental Impact Studies in 2014. It provides the framework, along with our ESG commitment to transparency and openness, that will ensure we minimise the impact of the Nolans Project on the unique Central Australian Arid Zone environment.

This approval, following the recent Hyundai/Kia Offtake Agreement and Project Update, adds to the momentum that should allow Arafura to commence procurement and construction, with FID expected to occur in early 2023.

The Arafura share price remains up over 50% since the start of 2022.

The post What’s going on with the Arafura share price today? appeared first on The Motley Fool Australia.

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• Why did the Arafura share price surge over 7% higher on Friday?
• Why Arafura Rare Earths, BHP, Capricorn Metals, and Newcrest shares are rising today
• Arafura share price rockets 10% on Hyundai and Kia rare earths deal
• Why have shares in ASX 300 rare earths miner Arafura just been halted?
• Could this news be helping the Sayona share price light up 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.

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The market often keeps a close eye on insider buying, as many believe it can indicate what those in the know expect a share to do. For instance, if a director were to snap up a significant chunk of their company’s stock, it could be assumed they expect its value to rise. But what might it mean if an S&P/ASX 200 Index (ASX: XJO) tech insider discards nearly $13 million of their company’s shares?

Interestingly, that’s what seems to have been happening at WiseTech Global Ltd (ASX: WTC) over recent weeks. The company’s founder, CEO, and director Richard White appears to be continually offloading his stake in its shares.

But all might not be what it seems. Let’s take a closer look at the insider selling seemingly going down with the ASX 200 tech share.

Is this ASX 200 tech insider offloading shares?

Plenty of eyes have been on WiseTech shares in recent months as White –  via his company RealWise Holdings – appears to have continually sold down a monumental stake in the ASX 200 tech company.

The most recent transaction tied to White’s name saw the insider apparently selling 117,731 WiseTech shares at an average price of $54.79, bringing in $6.45 million, between 4 November and 10 November.

The prior week, he ‘offloaded’ 111,994 shares at an average price of $57.67, totalling another $6.45 million.

Together, the transactions saw White sell a total of $12.9 million worth of the company’s shares.

As of the most recent notice, RealWise Holdings directly holds nearly 890,000 WiseTech shares. It also indirectly boasts 121 million shares in the ASX 200 tech share.

However, there might be more to this story than meets the eye.

Back in December 2021, the ASX 200 company announced RealWise had entered into an equity swap transaction involving the sale of 4.3 million WiseTech shares. Thus, the recent ‘insider selling’ at the company could simply boil down to the unwinding of the equity swap agreement.

Commenting on the agreement in December, White said:

I am committed to driving WiseTech’s global growth ambitions and positioning our CargoWise logistics execution software as the operating system for global logistics.

As WiseTech continues to gain momentum in delivering revenue growth and market penetration, we are seeing increasing interest from new, long-term investors wanting to be part of the company’s growth journey, which is why it is important to enhance liquidity via an orderly process.

The post Guess which ASX 200 tech insider has sold $12.9m of their company’s shares in just 2 weeks appeared first on The Motley Fool Australia.

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More reading

• 8 All Ords shares that soared 10% or more today
• Here are the top 10 ASX 200 shares today
• 3 ASX 200 tech shares booming 10% or more on Friday
• ASX 200 tech shares jump 6%
• Guess which ASX 200 director sold $6.5m worth of their company shares last week

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 WiseTech Global. The Motley Fool Australia has positions in and has recommended WiseTech Global. 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 All Ordinaries (ASX: XAO) is down 0.15% so far today, but these ASX All Ords shares have still managed to hit 52-week highs.

Treasury Wine Estates Ltd (ASX: TWE), Perseus Mining Limited (ASX: PRU) and Monadelphous Group Limited (ASX: MND) shares all reached new, yearly or multi-year highs at some point during trading today.

Let’s take a look at what’s going on with these ASX All Ords companies.

Treasury Wine Estates

Treasury Wine shares soared to a multi-year high of $13.70 shortly after market open. The wine company’s share price leapt by 3.6% this morning to crack the new high before giving back some of those gains. At the time of writing, Treasury Wine shares are climbing by 0.61%.

Prime Minister Anthony Albanese is meeting with Chinese President Xi Jinping today and, as reported by SBS, Australia’s current trade sanctions on wine, coal, barley and beef could be on the agenda. China slapped a tariff on Australian wine exports back in 2020.

Monadelphous Group 

The Monadelphous Group share price hit a yearly high of $14.64 this morning before also pulling back. Monadelphous shares climbed 2.4% in early trade but are now 0.49% in the red. Monadelphous is an engineering company and recently provided an update on some new contracts. On 9 November, the company advised it had just been awarded new contracts and contract extensions in the resources and energy sectors worth $150 million.

Perseus Mining

Perseus Mining shares climbed 1.83% to an almost 10-year high of $2.22 this morning before shedding some of those gains and then rebounding again. The explorer’s share price is up 1.38% to $2.21 at the time of writing. The spot gold price is currently down 0.17% to US$1,773.9 an ounce, CNBC data shows.

Perseus is exploring gold from three operating mines in Africa. In the September quarter, Perseus reported record gold production of 137,460 ounces, up 12% on the previous quarter.

The post 3 ASX All Ords shares that racked up new 52-week highs this morning appeared first on The Motley Fool Australia.

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More reading

• Brokers rate these blue chip ASX 200 shares as buys
• Here are the top 10 ASX 200 shares today
• Morgans names 3 of the best ASX 200 shares to buy in November
• Here’s why brokers rate these blue chip ASX 200 shares as buys
• These were the best-performing ASX 200 shares in October

Motley Fool contributor Monica O’Shea has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Treasury Wine Estates 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 S&P/ASX 200 Index (ASX: XJO) is on course to record another small decline. In afternoon trade, the benchmark index is down 0.1% to 7,139 points.

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

Allkem Ltd (ASX: AKE)

The Allkem share price is down 12% to $14.28. Although Allkem released its annual general meeting update today, this decline appears to have been driven by broad weakness in the lithium industry. In other news, the company’s chair, Martin Rowley, has announced his surprise retirement from the role this afternoon.

Core Lithium Ltd (ASX: CXO)

The Core Lithium share price is down 15% to $1.59. Once again, this has been driven largely by significant weakness in the lithium industry today. In addition, this morning Macquarie downgraded Core Lithium’s shares to a neutral rating and cut its price target to $1.80. The broker suspects that Core Lithium’s first spodumene production could be delayed until FY 2024.

Flight Centre Travel Group Ltd (ASX: FLT)

The Flight Centre share price is down a further 2.5% to $15.98. Investors have been selling this travel agent’s shares this week following the release of a trading update at its annual general meeting. One broker that was not impressed was Ord Minnett. This morning its analysts downgraded Flight Centre’s shares to a lighten rating with a trimmed price target of $13.71.

National Australia Bank Ltd (ASX: NAB)

The NAB share price is down 2.5% to $30.44. This has been driven by the banking giant’s shares going ex-dividend this morning for its final dividend. Last week, NAB released its full year results and declared a fully franked 78 cents per share fully franked final dividend. This will now be paid to eligible shareholders on 14 December.

The post Why Allkem, Core Lithium, Flight Centre, and NAB shares are dropping today appeared first on The Motley Fool Australia.

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More reading

• Here are the 3 most traded ASX 200 shares on Tuesday
• Here’s what Goldman Sachs is saying about the Flight Centre share price
• Why are ASX 200 lithium shares hitting the dirt on Tuesday?
• Why is the Core Lithium share price falling 12% on Tuesday?
• Why is the Allkem share price crashing 10% today?

Motley Fool contributor James Mickleboro has positions in Allkem Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Flight Centre Travel Group 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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