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  • 2 top US stocks to buy for the long haul

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

    Two men sit side by side on a couch with video game controls in their hands and expressive looks on their faces as they react to the action in front of them in a home setting.

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

    The software industry is fertile ground for investors today. Demand is on a long-term upswing, supported by a steady shift toward online work and entertainment. Many software businesses have more attractive selling models that are becoming increasingly subscription based, in turn stabilizing cash flows. And valuations have declined sharply with the latest bear market.

    With those positive factors in mind, let’s look at two excellent options for investors seeking exposure to the sector. Read on for a few reasons to like Adobe (NASDAQ: ADBE) and Electronic Arts (NASDAQ: EA) stocks right now.

    1. Adobe

    Adobe stock has become cheaper this year, partly thanks to a growth slowdown and partly due to worries about its $20 billion acquisition of Figma. The growth hangover won’t last forever, and the buyout will likely reward patient investors.

    Adobe creates software products for digital creators ranging from students to huge global brands. Its cloud platforms have attracted many more customers this year, even on top of soaring growth in earlier phases of the pandemic. Sales are up to $13.1 billion through the first nine months of the year compared to $11.7 billion a year earlier.

    Operating trends might look weaker over the next nine-month period, and Adobe is taking on some extra risk as it incorporates the new Figma business into its cloud platform. But the volatility from these issues should fade, allowing patient shareholders to generate solid returns by simply holding onto this software-as-a-service stock.

    2. Electronic Arts

    Electronic Arts is a video game developer boasting one of the industry’s most dominant content portfolios. From sports franchises to adventure games, casual titles to battle royale brands, EA covers every industry niche and all of the popular monetization models.

    That diversity is paying off. Sales in the most recent quarter were up 22% thanks to popularity across brands like FIFA 22 and Apex Legends. EA is also still boosting its earnings at a time when many other digital entertainment specialists are seeing falling profit margins.

    That success is a big reason the stock is outperforming peers like Take-Two Interactive (NASDAQ: TTWO). But EA still looks attractive today at a valuation of less than five times sales, one of the cheapest rates investors have seen in the last seven years.

    While demand in the video game industry might slow into 2023 as compared to the past few years, the long-term outlook is bright for this business. It is becoming more profitable and steadier, too, thanks to the shift to a subscription-based content model. As a result, investors are likely to see good returns in this software niche over time, especially if they focus on world-class businesses like EA.

    Adding EA and Adobe to your portfolio might add volatility in the short term, given the rocky outlook for many tech specialists right now. In exchange for that bumpiness in returns, though, you’ll get exposure to some world-class businesses that are almost certain to be posting stronger sales and earnings in five years than investors are seeing today.

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

    The post 2 top US stocks to buy for the long haul appeared first on The Motley Fool Australia.

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    Demitri Kalogeropoulos 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 Adobe Inc. and Take-Two Interactive. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Electronic Arts and has recommended the following options: long January 2023 $115 calls on Take-Two Interactive, long January 2024 $420 calls on Adobe Inc., and short January 2024 $430 calls on Adobe Inc. The Motley Fool Australia has recommended Adobe 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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  • Why Atlantic Lithium, Elmo, Qantas, and Westpac shares are pushing higher

    a man raises his fists to the air in joyous celebration while learning some exciting good news via his computer screen in an office setting.

    a man raises his fists to the air in joyous celebration while learning some exciting good news via his computer screen in an office setting.

    In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a small gain. At the time of writing, the benchmark index is up 0.3% to 6,665.3 points.

    Four ASX shares that have climbed more than most today are listed below. Here’s why they are pushing higher:

    Atlantic Lithium Ltd (ASX: A11)

    The Atlantic Lithium share price is up 2.5% to 61.5 cents. Investors have been buying this lithium developer’s shares after it announced the submission of the mining licence application for the Ewoyaa Lithium Mine in Ghana. If everything goes to plan, Ewoyaa will be the country’s first lithium mine.

    ELMO Software Ltd (ASX: ELO)

    The ELMO share price is up 29% to $3.13. This follows confirmation that the human resources and payroll software company is in takeover talks. ELMO notes that it has received approaches expressing interest in acquiring the company from various parties, including Accel-KKR. However, no agreement has been reached in relation to any transaction.

    Qantas Airways Limited (ASX: QAN)

    The Qantas share price is up 10% to $5.68. The catalyst for this was the release of a market update this morning. That update reveals that Qantas expects to report an underlying profit before tax of $1.2 billion to $1.3 billion for the first half of FY 2023. Qantas also expects its net debt to fall to between $3.2 billion and $3.4 billion at 31 December, which is below the bottom of the target range of $3.9 billion.

    Westpac Banking Corp (ASX: WBC)

    The Westpac share price is up 3% to $23.08. This morning analysts at Goldman Sachs reiterated their bullish view on this banking giant following the release of a rival’s full year results. It said: “We would particularly highlight our Buy recommendation (on CL) on WBC, whose year-to-date consensus NIM upgrades have significantly lagged peers.”

    The post Why Atlantic Lithium, Elmo, Qantas, and Westpac shares are pushing higher appeared first on The Motley Fool Australia.

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    Motley Fool contributor James Mickleboro has positions in Westpac Banking Corporation. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Elmo Software. The Motley Fool Australia has positions in and has recommended Elmo Software. 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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  • Two ASX mining shares soaring by 20% today

    Happy woman miner with her thumb up signalling Wyloo's commitment to back IGO's takeover of Western Areas nickelHappy woman miner with her thumb up signalling Wyloo's commitment to back IGO's takeover of Western Areas nickel

    The S&P/ASX 200 Materials Index (ASX: XMJ) is 0.14% in the red today, but two ASX mining shares are bucking the trend with big gains.

    The Carnaby Resources Ltd (ASX: CNB) and Magmatic Resources Ltd (ASX: MAG) share prices are smashing the index today.

    Let’s take a look at why these ASX mining shares are having such a great day.

    Carnaby Resources

    Carnaby shares are currently soaring 23.49% to 92 cents apiece.

    As we reported earlier, the ASX mining share advised of “phenomenal results” from the Mount Hope prospect. This is located within the Greater Duchess Copper Gold Project in Queensland. Results included 60 metres at 3.1% copper and 16 metres at 7.6% copper.

    Commenting on the news, managing director Rob Watkins said:

    The outstanding result of 60m @ 3.1% copper in MHRC029 is the widest and highest grade drill result yet recorded throughout the Greater Duchess Project, even surpassing the original discovery hole at Nil Desperandum.

    Magmatic Resources

    Magmatic Resources shares are surging 20% to 12 cents at the time of writing.

    The ASX mining share is exploring gold and copper at the Wellington North, Parkes, Myall, and Moorefield projects.

    The gold price leapt higher to US$1,674 in global markets overnight, while copper fell slightly to US$7,545 a tonne.

    Earlier this week, Magmatic reported a 722.5 metre copper intersection. Results included:

    • 722.5 metres at 0.25% copper, 0.05 grams per tonne gold, and 14 parts per million (ppm) molybdenum from 134.5m

    Commenting on the results, managing director Dr Adam McKinnon said: “I couldn’t be any more impressed with results from first full hole at our Myall program.”

    Share price snapshot

    The Carnaby Resources share price is up 200% in the past 12 months but is down 43% this year to date. However, it has gained 6% in the past month.

    Magmatic Resources shares are up 20% over the past year and 9% year to date, but are down 14% over the past month.

    The post Two ASX mining shares soaring by 20% today appeared first on The Motley Fool Australia.

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    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 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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  • What’s been dragging the Rio Tinto share price lower this week?

    A man sits in contemplation on his sofa looking at his phone as though he has just heard some serious or interesting news.A man sits in contemplation on his sofa looking at his phone as though he has just heard some serious or interesting news.

    The Rio Tinto Limited (ASX: RIO) share price has been struggling this week despite no news having been released by the S&P/ASX 200 Index (ASX: XJO) iron ore giant.

    The stock is in the green today, posting a 0.43% gain. But that’s not enough to negate the 2.5% fall it recorded over the course of Tuesday and Wednesday.

    Indeed, the Rio Tinto share price is currently 1.2% lower than it closed last Friday’s session.

    So, what might be dragging on the materials favourite this week? Let’s take a look.

    What’s weighing on the Rio Tinto share price?

    The Rio Tinto share price has posted a fall for this week so far. Though, it is outperforming its sector.

    The S&P/ASX 200 Materials Index (ASX: XMJ) is down 0.17% right now and 2.1% lower than it ended last week.

    The iron ore giant’s peers are also in the weekly red. The Fortescue Metals Group Limited (ASX: FMG) share price is trading 0.8% lower than it closed last Friday. At the same time, shares in BHP Group Ltd (ASX: BHP) have fallen 1.25% over the course of this week.

    The three iron ore giants have been in focus for much of the last four days due to concerns about the iron ore price.

    The commodity’s value generally sees a boom in September and October, but that hasn’t materialised this year, my Fool colleague Tristan reports.

    Its gains are normally driven by an increase in Chinese construction. But with many of the nation’s cities pushing through lockdowns and its housing market experiencing a downturn, building hasn’t ramped up.

    Thereby, demand for steel – for which iron ore is a critical component – isn’t rising in China. In return, the iron ore price isn’t surging as expected.

    That’s an issue for Rio Tinto shares as the company’s bottom line is dependent on the commodity’s price. Any rise or fall adds to or takes from its overall profits.

    Thus, the latest concerns about the iron ore price’s future have likely weighed on the stock and that of its peers this week.

    The post What’s been dragging the Rio Tinto share price lower this week? 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 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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  • Elmo share price explodes 29% on possible takeover

    A woman's head literally explodes with goodness.A woman's head literally explodes with goodness.

    The Elmo Software Ltd (ASX: ELO) share price is rocketing on Thursday, up 29.7% to $3.125 per share.

    Shares in the provider of cloud-based human resources and payroll software were halted for the first hour of trading today, but launched skyward when trading resumed just after 11am AEDT.

    This follows on speculations surrounding a potential takeover offer of the ASX tech share.

    What’s all this about a potential acquisition?

    The Elmo share price was frozen in early trade today at the company’s request.

    The company requested the pause due to recent media speculation regarding “possible corporate activity”.

    The ASX tech share hit the boards again after it released a statement regarding those speculations.

    According to the release, Elmo “confirms that it has received approaches expressing interest in acquiring the company from various parties, including Accel-KKR”.

    Elmo said it’s in discussions “with selected parties in the context of maximising shareholder value”. Discussions which look to be driving the Elmo share price sharply higher today.

    However, the company noted:

    No agreement has been reached in relation to any transaction, and there is no certainty that any proposal received will result in a binding offer or that any such offer would be recommended to shareholders.

    UBS and Arnold Bloch Leibler are advising the company regarding any proposals it receives.

    Elmo share price snapshot

    Despite today’s surge, the Elmo share price has underperformed this year, down 32.7% since the opening bell on 4 January. That compares to a year-to-date loss of 13.6% posted by the All Ordinaries Index (ASX: XAO).

    October, however, has presented a markedly different picture.

    While the All Ordinaries is up 3% since the first day of trading this month, the Elmo share price has gained a whopping 41%.

    In its 2022 financial year results, the company reported a 32% year-on-year increase in revenue. Though it still notched up a steep $79 million net loss for the year.

    The post Elmo share price explodes 29% on possible takeover appeared first on The Motley Fool Australia.

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    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 positions in and has recommended Elmo Software. The Motley Fool Australia has positions in and has recommended Elmo Software. 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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  • Why are ASX 200 bank shares having such a top run on Thursday?

    A team celebrates a win in the office.A team celebrates a win in the office.

    ASX 200 bank shares are continuing their strong run today following yesterday’s indication that net interest margins (NIMs) may be holding up better than expected.

    S&P/ASX 200 Financials (ASX: XFJ) shares are streaking ahead of the market today, up 1.2%.

    The financials sector is the leader among the market’s 11 sectors by a long shot. The next best sector is S&P/ASX 200 Industrials (ASX: XNJ) but it’s only 0.3% in the green.

    What’s happening with ASX 200 bank shares today?

    The Westpac Banking Corp (ASX: WBC) share price is up 2.68% today to $23.01. Yesterday, the shares rose by 3.75% to finish at $22.41.

    National Australia Bank Ltd (ASX: NAB) shares are up 2.14% to $30.52. Yesterday they closed at $29.88 — up 1.32%.

    The Commonwealth Bank of Australia (ASX: CBA) share price is up 1.99% to $98.21. Yesterday it rose by 2.44% to close at $96.29.

    The Australia and New Zealand Banking Group Ltd (ASX: ANZ) share price is up 1.88% to $25.22. Yesterday, ANZ shares rose by 3.34% to close at $24.75.

    By comparison, the S&P/ASX 200 Index (ASX: XJO) is tracking 0.12% higher.

    What’s causing the surge in share prices on Thursday?

    Yesterday, the Bank of Queensland Ltd (ASX: BOQ) released its full-year FY22 results. These revealed a stronger-than-expected NIM for the final quarter of FY22.

    Let’s recap.

    Firstly, a quick explanation of NIMs. The NIM is the amount of money ASX 200 banks earn from the interest paid by loan holders less the interest paid by the banks to savings deposit holders.

    So, the Bank of Queensland reported a final quarter NIM of 1.81% for FY22, which was ahead of forecasts. That’s what had everyone excited yesterday and again today, hence the surge in ASX 200 bank shares.

    Bank of Queensland is getting the lion’s share of the surge, with its share price rising 11.3% yesterday. Today, the shares are up again by 0.40% to $7.62.

    Top broker Goldman Sachs explained the NIM result and its relevance:

    The highlight of the result was that BOQ’s 4Q22 NIM came in at 1.81%, well ahead of the 1.75% 2H22 average, and also our FY23E forecast of 1.78% and Visible Alpha Consensus Data forecast of 1.75%.

    As we reported, this is good news for all ASX 200 bank shares. It indicates that other banks are probably recording similarly strong NIMs. Market fear, exit stage left. Investors are jumping into bank shares again.

    Three of the big four banks will report their own FY22 full-year results over the next month — ANZ on 27 October, Westpac on 7 November, and NAB on 9 November. Mark the dates.

    Brokers upgrade Bank of Queensland shares

    As my Fool colleague James wrote this morning, two brokers have delivered their verdict on the Bank of Queensland results.

    Goldman Sachs has retained its neutral rating on the Bank of Queensland but upped its 12-month share price target from $8.16 to $8.51.

    Goldman said:

    We revise our FY23/24E cash EPS by +7.4%/+1.5% … Our EPS changes are driven by i) higher NIMs given a strong 2H22 exit NIM, partially offset by ii) higher expenses, and iii) higher BDDs.

    In The Australian, Goldman said the NIM improvement supports the current Bank of Queensland valuation (i.e., its share price), but various headwinds will see it “underperform peers”.

    Citi retained its buy rating and $8.75 price target on Bank of Queensland shares. Macquarie increased its price target by 7% to $7.50.

    What about the other ASX 200 bank shares?

    As for the other ASX 200 bank shares, The Australian also reports that JP Morgan has upgraded its near-term outlook for the banking sector.

    In a client note, JP Morgan said its changed view reflected “significant near-term interest rate leverage and likely potential net interest margin (NIM) overshoot given slow repricing of deposit products”.

    JP Morgan analyst Andrew Triggs said:

    Bank of Queensland’s FY22 result has given us more confidence in these dynamics, with its NIM up 12 basis points quarter-on-quarter in 4Q FY22 and the exit NIM ‘well in excess’ of 4Q NIM.

    JP Morgan upgraded CBA to neutral, saying the stock is pricey but notes the bank “offers the best leverage to rising rates and has the most defensive loan book, in our view”.

    In order of preference, JP Morgan ranks the big four ASX 200 bank shares as follows: National Australia Bank, ANZ, Westpac, and CBA.

    CSLA has also upgraded its ratings to buy on Westpac and accumulate on National Australia Bank.

    The post Why are ASX 200 bank shares having such a top run on Thursday? appeared first on The Motley Fool Australia.

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    JPMorgan Chase is an advertising partner of The Ascent, a Motley Fool company. Citigroup is an advertising partner of The Ascent, a Motley Fool company. Motley Fool contributor Bronwyn Allen has positions in Australia & New Zealand Banking Group Limited, Commonwealth Bank of Australia, Macquarie Group Limited, and Westpac Banking Corporation. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs and JPMorgan Chase. The Motley Fool Australia has recommended Macquarie Group Limited and 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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  • 2 Warren Buffett stocks to buy that could soar 80% and 90%, according to Wall Street 

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

    Person pointing finger on on an increasing graph which represents a rising share price.

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

    Warren Buffett held over $327 billion in equity securities through Berkshire Hathaway at the end of the second quarter, and more than half of that sum was invested in just three companies: Apple, Bank of America, and Coca-Cola, all of which have been huge winners for Buffett. But certain Wall Street analysts see a lot of upside for some of Berkshire’s smaller holdings.

    For instance, John Blackledge of Cowen Group has a price target of $215 per share on Amazon (NASDAQ: AMZN), which implies 91% upside from its current price. Similarly, Keith Weiss of Morgan Stanley has a price target of $274 per share on Snowflake (NYSE: SNOW), which implies 80% upside from its current price.

    Of course, investors should never put too much weight on Wall Street’s near-term price targets, but both of these Warren Buffett stocks are still worth buying today. Here’s why.

    Amazon: Retail, cloud computing, and digital advertising

    High inflation has hit many retailers hard in the past year, and Amazon is no exception. The rising cost of fuel and labor, compounded by continued investments in fulfillment infrastructure, have weighed heavily on its financial performance. In fact, Amazon has now posted a GAAP loss for two consecutive quarters. But its struggles are the result of temporary macroeconomic headwinds, not a broken investment thesis. The future still looks very bright for Amazon.

    Global retail e-commerce sales are expected to increase at 10% per year to reach $7.4 trillion by 2025, according to eMarketer, and Amazon is the most popular online marketplace in the world as measured by monthly visitors. That significant scale is the foundation of a powerful network effect. Specifically, sellers naturally gravitate to the most popular marketplace, and that tends to bring more buyers to the platform, creating a virtuous cycle. That should keep Amazon on the leading edge of the e-commerce industry for years to come.

    Additionally, cloud computing spending is expected to grow faster than 15% per year to surpass $1.5 trillion by 2030, according to Grand View Research, and Amazon Web Services (AWS) led the cloud infrastructure space with 34% market share in the second quarter. Better yet, research company Gartner says AWS has consistently positioned itself as the innovation leader, and that attribute should keep it ahead of the competition for years to come.

    Finally, global digital ad spend is expected to climb at 10% per year to reach $876 billion by 2026, according to eMarketer, and Amazon has quietly become an advertising powerhouse. In fact, it is the fourth-largest digital advertiser in the world, behind Alphabet, Meta Platforms, and Alibaba. That success stems primarily from the popularity of its online marketplace, though its streaming platform (Amazon Fire TV) has also played a role. In both cases, investors have good reason to believe Amazon will retain its strong market position, meaning the company is well-positioned to gain ground in digital advertising.

    Shares currently trade at 2.4 times sales, a bargain compared to the three-year average of 3.8 times sales. Investors should jump on this opportunity and buy a few shares of this Warren Buffet stock. That said, 91% upside in the near term may be a bit optimistic, especially in the current macroeconomic environment. 

    Snowflake: Big data analytics

    Snowflake helps businesses harness the power of big data. Its platform supports a range of workloads that would otherwise require multiple point solutions, including data ingestion, transformation, storage, and analytics. The Snowflake Data Cloud also enables customers to share data across their organizations, and it includes developer tools that simplify the building of data-intensive applications. That broad utility gives Snowflake an edge over other vendors.

    Additionally, Snowflake offers industry-specific versions of its Data Cloud. For example, its Financial Services Data Cloud includes data sets and solutions tailored to financial service providers, and it has seen adoption by companies like Block and Mastercard. That portion of Snowflake’s go-to-market strategy reduces friction for customers and accelerates time to value, and it has helped drive demand.

    Snowflake increased its customer count 36% to 6,808 over the past year, and the average customer upped their spending by 71% during that time. In turn, revenue soared 92% to $1.6 billion, and the company generated positive free cash flow of $293 million, up from a loss of $43 million in the prior year.

    Going forward, Snowflake puts its market opportunity at $248 billion by 2026, and given its strong financial track record investors have good reason to be bullish. Shares currently trade at 29.2 times sales — not a cheap valuation by any means, but still a discount to the average of 86.6 times sales since Snowflake went public in 2020. That creates a buying opportunity for risk-tolerant investors, though I would keep your position small (no more than 2% of a portfolio) at the present time, and I certainly wouldn’t count on 57% in the near term.  

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

    The post 2 Warren Buffett stocks to buy that could soar 80% and 90%, according to Wall Street  appeared first on The Motley Fool Australia.

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    revor Jennewine has positions in Amazon, Block, Inc., and Mastercard.  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. Bank of America is an advertising partner of The Ascent, a Motley Fool company. John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Suzanne Frey, an executive at Alphabet, 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 Alphabet (A shares), Alphabet (C shares), Amazon, Apple, Block, Inc., Mastercard, Meta Platforms, Inc., and Snowflake Inc. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended the following options: long January 2024 $47.50 calls on Coca-Cola, long March 2023 $120 calls on Apple, and short March 2023 $130 calls on Apple. The Motley Fool Australia has positions in and has recommended Block, Inc. The Motley Fool Australia has recommended Alphabet (A shares), Alphabet (C shares), Amazon, Apple, Mastercard, 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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  • Guess which ASX mining share is rocketing 20% on ‘phenomenal’ drill results

    A happy group of workers around a table raise their arms in the air as though celebrating a work achievement. One woman is on her feet with her arm raised in the air in a fist-pumping action.A happy group of workers around a table raise their arms in the air as though celebrating a work achievement. One woman is on her feet with her arm raised in the air in a fist-pumping action.

    ASX mining share Carnaby Resources Ltd (ASX: CNB) is launching higher on Thursday after the company revealed a major copper find.

    Drilling at the company’s Greater Duchess Copper Gold Project has returned its highest grade and widest result to date.

    The Carnaby Resources share price is leaping 21.48% on the back of the news to trade at 91 cents. Earlier in the day, it hit a high of $1.08 — representing a gain of 43% on Wednesday’s closing price.

    Let’s take a closer look at the announcement taking the ASX mining share by storm.

    ASX mining share launches 21% on record results

    The Carnaby Resources share price is taking off as the market digests news from the ASX miner’s Mt Isa project.

    Drilling at the Greater Duchess Project’s Mount Hope Prospect has returned results including 60 metres at 3.1% copper – marking the project’s best-ever result.

    It exceeded initial portable X-ray fluorescent (pXRF) results – announced last month – by more than 30%.

    Carnaby Resources managing director Rob Watkins commented on the news driving the company’s share price, saying:

    These exceptional drill results from Mount Hope are pointing towards a very material and growing discovery, regionally significant within the Mount Isa Inlier.

    With numerous IP anomalies, structural targets and obvious direct extension drill targets to the results announced today, we look forward with great anticipation to the unfolding discovery at Mount Hope.

    The broader drilling campaign has initially defined a more than 200-kilometre-long strike of continuous wide and high-grade copper mineralisation.

    The area is located beneath an open pit, historically mined to a maximum depth of around 35 metres. 

    Carnaby Resources share price snapshot

    Sadly, today’s gain hasn’t been enough to pull the ASX mining share back into the longer-term green.

    The Carnaby Resources share price has dumped 43% since the start of 2022. Though, it has gained 200% since this time last year.

    The post Guess which ASX mining share is rocketing 20% on ‘phenomenal’ drill results 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 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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  • Who’s making money from higher rates? Scott Phillips on Nine’s Late News

    Motley Fool Chief Investment Officer Scott PhillipsMotley Fool Chief Investment Officer Scott Phillips

    Motley Fool Australia Chief Investment Officer Scott Phillips joined Tracy Vo for Nine’s Late News on Wednesday night to discuss a cracker of a day for Bank of Queensland Limited (ASX: BOQ) shares, house price falls, and a slimming of the product range at Bunnings. 

    [youtube https://www.youtube.com/watch?v=MumerSSNP_I?feature=oembed&w=500&h=281]

    The post Who’s making money from higher rates? Scott Phillips on Nine’s Late News appeared first on The Motley Fool Australia.

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    Motley Fool contributor Scott Phillips 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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  • Could this spell good news for the Woodside share price?

    A woman studying share market stats on a computer while writing a report.A woman studying share market stats on a computer while writing a report.

    The Woodside Energy Group Ltd (ASX: WDS) share price is steaming ahead this year.

    Woodside shares have soared more than 50% year to date to $32.95. For perspective, the S&P/ASX 200 Index (ASX: XJO) has fallen nearly 11% year to date.

    A recent Federal Government report predicts LNG (liquefied natural gas) export earnings to lift in the 2023 financial year. Let’s take a look at this in more detail.

    LNG export earnings tipped to rise

    Woodside is a major oil and gas producer. In fact, around 70% of Woodside’s assets are used for gas production.

    A recent resources and energy report from the Federal Industry Department is predicting LNG export earnings to soar by 28.6% in the 2023 financial year from $70 billion to $90 billion.

    However, the author tips LNG export volumes will ease and stabilise to 81 million tonnes by 2024. Export revenue is predicted to fall to $81 billion in the 2024 financial year.

    The fallout from Russia’s invasion of Ukraine is placing “upward pressure on LNG spot prices,” the report states, adding:

    Russian gas flows to Europe have fallen 78% year-on-year from 373 million cubic meters per day mcm/d) in September 2021 to 81 mcm/d in September 2022. If the current flows are sustained for a year, Europe could lose roughly 78 Mt of LNG-equivalent gas.

    This figure is roughly equivalent to 21% of the global LNG trade in 2021 or 92% of Australia’s total LNG exports in FY21-22.

    Globally, the report noted lockdowns are impacting Chinese LNG imports. However, imports account for only 25% of China’s gas. Japan’s LNG imports rose 8.5% in the June quarter, while Chinese LNG imports fell 28%. Total European LNG imports in the June quarter fell 4.9%.

    Meanwhile, the department forecast oil export earnings to lift in the 2023 financial year before declining. The report said:

    Australian oil export earnings rose by 88% to $14.0 billion in 2021-22, due to the surge in oil prices. Elevated prices and a weak AUD/USD should see earnings reach $15.0 billion in 2022-23. Earnings for 2023-24 are forecast at $13.4 billion, as prices fall from 2022-23 levels.

    Woodside share price snapshot

    The Woodside share price has risen 30% in the past year, while it has climbed nearly 1% in the last month. In the last week, however, Woodside shares have fallen 3%.

    For perspective, the ASX 200 has fallen 8.4% in the past year.

    Woodside has a market capitalisation of nearly $63 billion based on the current share price.

    The post Could this spell good news for the Woodside share price? appeared first on The Motley Fool Australia.

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    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 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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