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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to end the week deep in the red. At the time of writing, the benchmark index is down 3.3% to 6,545.3 points.

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

Block Inc (ASX: SQ2)

The Block share price is down a massive 9% to $83.86. Investors have been selling this payments company’s shares in response to weakness from its US listed shares over the last two trading sessions. This has been driven by a tech selloff in response to the US Federal Reserve’s rate hike.

Brainchip Holdings Ltd (ASX: BRN)

The Brainchip share price is down over 3% to 88 cents. This follows major weakness in the tech sector that has seen the S&P/ASX All Technology index fall by a sizeable 4.5% today. Given that Brainchip is a loss-making semiconductor company with little revenue, it’s impressive that its shares are holding up as well as they are in the current environment.

Domino’s Pizza Enterprises Ltd (ASX: DMP)

The Domino’s share price has continued its slide and is down a further 5% to $53.45. At one stage, this pizza chain operator’s shares dropped to a new two-year low. While today’s decline is due to the market selloff, Domino’s shares have come under pressure this year due to concerns about the impact that inflation could be having on its operations.

Vulcan Energy Resources Ltd (ASX: VUL)

The Vulcan share price is down 4% to $7.54. This is despite there being no news out of the lithium developer. However, it is worth noting that higher risk shares are being sold off today amid the market weakness. This has led to many lithium shares dropping deep into the red.

The post Why Block, Brainchip, Domino’s, and Vulcan shares are sinking today appeared first on The Motley Fool Australia.

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More reading

• Here’s why the Block share price is being smashed today
• Here are the top 10 ASX 200 shares today
• Do BrainChip shares pay dividends?
• Why did the Domino’s share price just slump to a two-year low?
• Why is the Vulcan Energy share price lifting today?

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Block, Inc. The Motley Fool Australia has positions in and has recommended Block, Inc. The Motley Fool Australia has recommended Dominos Pizza Enterprises 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 De Grey Mining Limited (ASX: DEG) share price is on track to finish the week deep in the red.

While the gold miner’s shares are currently down 1.71% to $1.01 today, this represents a fall of almost 8% for the week.

The ASX is digesting Wall Street’s losses yesterday following the decision by the United States Federal Reserve to lift interest rates.

As a result, the broader market is treading lower along with a number of gold mining companies.

The S&P/ASX 200 Index (ASX: XJO) is falling 2.12% to 6,558.2 points.

Newcrest Mining Ltd (ASX: NCM) and Northern Star Resources Ltd (ASX: NST) are down 0.36% and 1.06%, respectively.

Let’s take a look at why the De Grey share price is losing more of its shine.

Why are De Grey shares being hit the hardest?

Investors are continuing to sell off De Grey shares as the market reacts to the US central bank’s rate hike.

The S&P/ASX All Ordinaries Gold Index (ASX: XGD) is down 0.86%, which is now touching 5% lower for the week.

While the Aussie stock market is now pricing in the latest move by the Fed, it’s De Grey shares that are losing most of their shine.

This is because the company is much smaller than its peers, and is also being targeted by short-sellers.

As my Motley Fool colleague James pointed out, De Grey sits within the top 10 of ASX-listed companies that have high short levels.

The last short-sale data report indicated De Grey has 7.58% of its shares that are being shorted.

In addition, gold prices have deteriorated to around US$1,670 per ounce following the US Fed Reserve decision.

When interest rates increase, investors tend to shift investments away from the yellow metal into treasury bonds.

De Grey share price summary

It has been a whirlwind year for De Grey shareholders.

The company’s shares touched a 52-week high of $1.465 earlier this year before plunging 50% in the following months.

Year to date, the share is down 17%.

Based on today’s price, De Grey presides a market capitalisation of approximately $1.45 billion.

The post Why is the De Grey share price struggling this week? appeared first on The Motley Fool Australia.

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More reading

• Gold just hit a 2-year low. What could this mean for the Northern Star share price?
• 5 things to watch on the ASX 200 on Friday
• Why Imugene, Link, Newcrest, and Zip shares are dropping
• 5 things to watch on the ASX 200 on Wednesday
• Here are the top 10 ASX 200 shares today

Motley Fool contributor Aaron Teboneras has positions in Northern Star Resources 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 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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It’s a big day for many ASX investors today. Not just because of the awful movements that we are seeing in the share market. Yes, the S&P/ASX 200 Index (ASX: XJO) has lost almost 2% today. But that belies the fact that many investors will be receiving a paycheque this Friday, which might help to make up for the depressing losses on the markets.

It’s a dividend bonanza on the ASX 200 today. Let’s go through some of the ASX shares that will be paying out their latest dividends during this session.

The first is QBE Insurance Ltd (ASX: QBE). QBE has managed to hold up relatively well over 2022, recording a small gain of 0.25% over the year to date. Investors can now look forward to receiving the 9 cents per share fully franked interim dividend that the ASX 200 insurer is sending out today.

This dividend payment is smaller than the previous final dividend of 19 cents per share that investors received in March. It’s also behind the 11 cents per share interim dividend from FY21. This gives QBE shares a dividend yield of 2.34% on current pricing.

Bega Cheese Ltd (ASX: BGA) is another dividend share that is sending a cheque investors’ way today. This ASX 200 dairy and snack foods company has had a rough year, down more than 37% in 2022 so far. So no doubt investors are looking forward to receiving the 5.5 cents per share fully franked final dividend today.

This is level with the interim dividend from March but a 10% rise over the 5 cents per share final dividend from FY21. Bega shares now have a dividend yield of 3.12%.

More ASX dividend payments incoming this Friday

Next up, we have ASX 200 gaming company Tabcorp Holdings Ltd (ASX: TAH). Tabcorp has had a big year, with the spinoff of its Lottery Corporation Ltd (ASX: TLC) division a few months ago. Today, Tabcorp investors can expect a payment of 6.5 cents per share, fully franked, for their final dividend for FY22.

That is the same payment investors received for Tabcorp’s March interim dividend and a drop from the 7 cents per share payout from FY21.  It gives Tabcorp a dividend yield of 13.68% on today’s pricing.

Let’s now check out Eagers Automotive Ltd (ASX: APE). Eagers shares have taken a big hit today, losing more than 5% of their value in the ASX 200 market selloff. But that might make the incoming dividend even more valuable to investors.

Eagers shareholders will be receiving a 22 cents per share fully franked payment this Friday. Unlike last year’s interim dividend of 20 cents per share, this will not come with a special dividend included. Today, the Eagers dividend yield stands at 5.38%.

Finally, today we have the ASX 200 mining company Mineral Resources Ltd (ASX: MIN). Mineral Resources has had a cracking year, rising a healthy 15.6% over 2022 thus far.

The $1 per share fully franked dividend that shareholders will welcome today is a bit of a drop from the $1.75 per share payment investors enjoyed last year. It brings the Mineral Resources dividend yield to the 1.47% we see today.

The post These ASX 200 dividend shares just paid out. Here’s how much appeared first on The Motley Fool Australia.

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More reading

• Own Mineral Resources shares? Your dividends are on the way
• Top broker names 2 ASX dividend shares to buy
• Looking to buy ASX shares? Expert reveals ‘one metric to assess the quality of a business’
• Here are the top 10 ASX 200 shares today
• Mineral Resources share price up 5% as miners lead the market on Tuesday

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

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The BHP Group Ltd (ASX: BHP) share price is at risk of ending the year nursing losses with few signs of a letup in the headwinds pressuring the miner.

Falling iron ore prices, the sputtering Chinese economy and rising cost pressures are some of the factors hanging over its shares.

Now that BHP has shed its massive record dividend, I don’t blame you if you were thinking of cashing out.

What’s the shorter-term outlook for BHP shares

After all, we might be waiting for a while before the next positive share price catalyst. And given the BHP share price has fallen around 10% since January, shareholders might be sitting on losses for 2022.

While this ignores the in-specie distribution of Woodside Energy Group Ltd (ASX: WDS) shares, the outlook for BHP is still looking uncertain.

But I think it would be a mistake to throw in the towel. While I do take profit as I actively manage my portfolio (cash is my single largest position currently), I intend to keep my remaining BHP shares.

Flat means up for ASX iron ore shares

This is despite the iron ore price crashing from its March 2022 peak of around US$160 a tonne to approximately US$100/t.

The fact is the BHP share price is still sitting pretty at the current iron ore spot price. It roughly costs BHP US$20 to dig up and ship a tonne of ore from its Pilbara mines.

At current market prices for its key commodities, Macquarie Group Ltd (ASX: MQG) estimates a 12% and 20% earnings upside for the miner in FY24 and FY25, respectively.

Iron ore can hold its ground

BHP can continue to generate substantial cash flows even if the world goes into a recession – if iron ore holds its ground.

There are reasons to think it could. The problems with China and the global economy from rapidly escalating rate hikes are well understood. The risks are largely priced in.

Secondly, the supply of iron ore is tight even when demand is on the back foot due to production issues at Vale SA (NYSE: VALE) and Rio Tinto Limited (ASX: RIO).

Has iron ore hit a bottom?

The scope of the supply imbalance is reflected in comments by Vale that things can only get better, reported Bloomberg.

The comments came from the Brazilian miner’s head of strategy and business transformation, Luciano Siani. He said that the iron ore market has stabilised following the sell-off and commented:

“The good news is that from now on it can only get better…. There is no ore available in the near term.

Holding on to BHP shares

This doesn’t mean that the BHP share price will be protected if the S&P/ASX 200 Index (ASX: XJO) tanks.

But I believe the Big Australian can recover more quickly than those in other sectors thanks to the positive fundamentals.

Naturally, all bets are off if commodity prices crash. But that would take something rather unexpected to trigger such a meltdown.

The post 2022 hasn’t been kind to BHP shares. Here’s why I’m holding tight appeared first on The Motley Fool Australia.

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More reading

• How do investors decide which ASX 200 mining shares to buy?
• The history-making BHP dividend is being paid out today. Here’s the lowdown
• Why is the BHP share price lagging the ASX 200 today?
• This is how I found a 15-bagger ASX share: fund manager
• $18 billion of ASX dividends are being paid out this week. Here’s the lowdown

Motley Fool contributor Brendon Lau has positions in BHP Billiton Limited, Macquarie Group Limited, Rio Tinto Ltd., and Woodside Petroleum Ltd. 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 Macquarie 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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The Betashares Global Cybersecurity ETF (ASX: HACK) is an exchange-traded fund (ETF) that gives investors exposure to a trend that is, unfortunately, growing in the world: defence against cybersecurity.

In a perfect world, there wouldn’t be any cybercrime. But the world is becoming increasingly digital. More details are accessed online. There are more transactions being done online. And so on. There is more scope for cybercriminals to get up to mischief.

Optus affected

Indeed, just today we’re learning that current and former Optus customers have potentially been involved in a data breach. The breach resulted from a cyber attack on the telecommunications company, as reported by various media including the ABC.

The ABC reports that Optus noticed “unusual activity” yesterday afternoon. The telco is now working with the Australian Cyber Security Centre (ACSC) and the Australian Federal Police.

Things like customer names, dates of birth, phone numbers, email addresses, addresses and ID document numbers such as a driver’s licence or passport numbers may have been exposed.

Optus says that services remain “safe to use and operate as per normal”.

Optus CEO Kelly Bayer Rosmarin said the number of people affected is “significant”, but didn’t say how many because it’s too early:

We want to be absolutely sure when we come out and say how many.

We’re so deeply disappointed because we spend so much time and we invest so much in preventing this from occurring.

Our teams have thwarted a lot of attacks in the past and we’re very sorry that this one was successful.

Optus isn’t the only business to suffer a cyber attack, though it is the most recent high-profile case. This is where the Betashares Global Cybersecurity ETF, or HACK, can help.

Cybercrime is growing

The Australian Cyber Security Centre Annual Cyber Threat Report 2020-21 showed that over FY21, the ACSC received over 67,500 cybercrime reports, an increase of nearly 13% from the previous financial year. It says:

A higher proportion of cyber security incidents this financial year was categorised by the ACSC as ‘substantial’ in impact. This change is due in part to an increased reporting of attacks by cybercriminals on larger organisations and the observed impact of these attacks on the victims, including several cases of data theft and/or services rendered offline.

The increasing frequency of cybercriminal activity is compounded by the increased complexity and sophistication of their operations. The accessibility of cybercrime services – such as ransomware-as-a-service (RaaS) – via the dark web increasingly opens the market to a growing number of malicious actors without significant technical expertise and without significant financial investment.

What does an ASX ETF have to do with this?

The Betashares Global Cybersecurity HACK ETF is invested in a portfolio of 37 businesses involved in cybersecurity.

Some readers may have heard of some of the largest businesses in the portfolio: Broadcom, Crowdstrike, Cisco Systems, Palo Alto Networks, Infosys, Cyberark Software, Zscaler, Fortinet, Science Applications and Booz Allen Hamilton.

As BetaShares says, the fund’s portfolio includes global cybersecurity giants and emerging players from a range of global locations.

The ETF provider expects the global cybersecurity market to rise from $137.6 billion in 2017 to $248.3 billion in 2023.

Including the annual management fee of 0.67%, the ETF has returned an average return per annum of 14.9% over the three years to August 2022.

HACK ETF share price snapshot

But, past performance is no guarantee of future performance. It’s down 24% this year, so its price is a lot cheaper.

The post Could the HACK ETF provide a hedge against future cyber fallout? appeared first on The Motley Fool Australia.

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More reading

• These could be 2 of the most exciting ETFs for ASX investors to buy
• Don’t miss out on these high quality ASX ETFs
• 2 excellent ETFs for ASX investors to buy this month
• I rate these top ASX growth shares as buys in September
• 2 popular ETFs that could be buys for ASX investors

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 positions in and has recommended BETA CYBER ETF UNITS, Cisco Systems, CrowdStrike Holdings, Inc., Fortinet, Palo Alto Networks, and Zscaler. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Broadcom Ltd. The Motley Fool Australia has positions in and has recommended BETA CYBER ETF UNITS. The Motley Fool Australia has recommended CrowdStrike Holdings, Inc. 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 Piedmont Lithium Inc (ASX: PLL) share price is losing ground today despite the company announcing two key appointments.

This comes as a number of shares in lithium companies are deep in the red following a sell-off on Wall Street overnight.

Allkem Ltd (ASX: AKE) shares are currently down 5.01%, while those of Liontown Resources Ltd (ASX: LTR) have fallen 4.86%.

The Piedmont Lithium share price is now down 6.45%, trading at 87 cents at the time of writing.

Let’s take a closer look at the company’s latest update.

Piedmont strengthens its senior leadership team

In today’s release, Piedmont advised it was strengthening its senior management team with the appointment of Nick Fouche as its senior vice president of capital projects.

In the role, Fouche will oversee the development of project execution strategies for Piedmont’s global portfolio to deliver on key objectives.

The company said he brought three decades of experience to the position, having spent the majority of his career at Rio Tinto Ltd (ASX: RIO). Fouche has also spent time at other mining and metals companies, including South32 Ltd (ASX: S32) and Palabora.

Piedmont also advised it had acquired the services of Erin Sanders, who will take up the role as vice president of corporate communications.

The company said Sanders was an award-winning integrated communications strategist, working with a number of global communications agencies to build brand identities. Her expertise covers the mining and manufacturing industries.

She will be responsible for all corporate and executive communications, brand reputation, crisis and issues management, employee communications, community relations, public relations, and social media strategies.

What did management say?

Piedmont president and CEO Keith Phillips said:

Adding these experienced leaders is key as we steadily progress in the development plans of our global portfolio of spodumene resources.

Nick has a proven track record of successfully delivering large, multi-disciplinary projects, which will be instrumental as we move into execution mode in the targeted development of our core projects; and Erin’s broad communications background will play a key role in shaping our brand, culture, and perception among our internal and external stakeholders as we move forward.

About the Piedmont Lithium share price

Over the past 12 months, Piedmont shares have gained almost 20%.

The Piedmont Lithium share price reached a year-to-date low of 48.5 cents on 15 July before rocketing 100% a month later.

Piedmont presides a market capitalisation of roughly $459 million based on the current share price.

The post Down 6%, Piedmont Lithium shares take the foot off the gas appeared first on The Motley Fool Australia.

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More reading

• The Piedmont Lithium share price is actually gaining today. What’s going on?
• Why is the Piedmont Lithium share price popping 6% on Thursday?
• Why are ASX lithium stocks having such a stellar run today?
• Where does Tesla get its lithium and do any ASX shares benefit?
• Piedmont Lithium share price falls 5% after plans to build the largest US lithium plant unveiled

Motley Fool contributor Aaron Teboneras 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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It has been another busy week for Australia’s top brokers. This has led to the release of a large number of broker notes.

Three broker buy ratings that you might want to know more about are summarised below. Here’s why brokers think these ASX shares are in the buy zone:

Brickworks Limited (ASX: BKW)

According to a note out of Citi, its analysts have retained their buy rating and lifted their price target on this building products company’s shares to $28.00. This follows the release of a full year result that was ahead of the broker’s expectations. And while the broker doesn’t expect the company’s development profits to be as strong in FY 2023, it sees scope for upside surprise to estimates from its property earnings. The Brickworks share price is trading at $21.13 on Friday.

Coles Group Ltd (ASX: COL)

Another note out of Citi reveals that its analysts have retained their buy rating and $20.10 price target on this supermarket giant’s shares. This follows news that the company has agreed to sell its Coles Express business for $300 million. The broker is a fan of the plan and expects the company to be able to focus its efforts on improving its core business which has been losing market share. Citi also believes the money from this sale could support the expansion of its supermarket network and store renewal program. The Coles share price Is fetching $16.29.

CSL Limited (ASX: CSL)

Analysts at Morgan Stanley have retained their overweight rating and $323.00 price target on this biotherapeutics company’s shares. The broker highlights that the latest plasma collection data is very positive with further solid growth year on year. And with the company’s shares pulling back materially from their highs, the broker sees a lot of value in them now. Particularly given its belief that its margin recovery is now starting. The CSL share price is trading at $276.90 today.

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

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More reading

• Goldman Sachs gives its verdict on the Coles share price
• Here are 2 ASX 200 blue chip shares that experts rate as buys
• 5 things to watch on the ASX 200 on Friday
• Top brokers name 3 ASX shares to buy today
• Could the CSL share price be set for a boost before the year’s end?

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 Brickworks and CSL Ltd. The Motley Fool Australia has positions in and has recommended Brickworks and 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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The Xero Limited (ASX: XRO) share price is in the red today, but could better days be ahead?

Xero shares are currently trading at $78.01, a 6% fall. For perspective, the S&P/ASX 200 Index (ASX: XJO) is down 1.68% today.

So what’s going on with the Xero share price and what’s ahead?

Tech shares slide

Xero shares may be falling today, but they are not alone among ASX tech shares. The Megaport Ltd (ASX: MP1) share price is down nearly 7% today, while Appen Ltd (ASX: APX) shares are down 3% and Block Inc (ASX: SQ2) shares are tumbling nearly 9%.

The S&P/ASX All Technology Index (ASX: XTX) is down 3.68%.

Today’s fall follows a tough Thursday for technology stocks in the USA. The Nasdaq Composite Index (NASDAQ: .IXIC) fell 1.37%. The United States Federal Reserve lifted interest rates by 0.75 basis points and indicated more hikes could be ahead. This is placing pressure on technology valuations and sparking fears of a recession, as my Foolish colleague James noted this morning.

However, Goldman Sachs analysts have recently recommended Xero as a buy and placed a $111 price target on the company’s share price. This is a 42% upside on the current share price.

Analysts believe Xero is “well-placed” to navigate uncertainty given the “stickiness & importance of its software”.

Xero reported a 19% boost in subscriber growth in FY22 to 3.271 million subscribers. The company’s annualised monthly recurring revenue (AMRR) soared 28% to $1.2 billion while operating revenue lifted 29% to nearly $1.1 billion.

Commenting on the future outlook at the company’s annual general meeting in August, chair David Thodey said:

We remain optimistic about the market opportunities for the Xero product portfolio – cloud based accounting is fundamental to the success of small businesses.

Xero share price snapshot

The Xero share price has fallen 49% in the past year, while it has shed 45% in the year to date.

In comparison, the benchmark ASX 200 Index has fallen nearly 12% in the past year.

Xero has a market capitalisation of about $11.7 billion based on the current share price.

The post Xero share price is tumbling 5%, but could it be worth a buy? appeared first on The Motley Fool Australia.

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More reading

• Goldman Sachs names 2 ASX tech shares to buy now
• 5 things to watch on the ASX 200 on Tuesday
• Why I’m seriously considering buying these ASX shares following today’s market crash
• Xero share price tumbles 6% amid market selloff: Buy the dip?
• Why are ASX 200 tech shares being hit the hardest on Wednesday?

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 positions in and has recommended Xero. The Motley Fool Australia has positions in and has recommended Xero. 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 stretching up in midday trading on Friday.

At the time of writing, shares in the diversified mining conglomerate are lifting nearly 2% higher at $93.13 apiece.

What’s up with the Rio Tinto share price?

Whilst there’s been nothing price-sensitive released by Rio today, noteworthy is that the price of iron ore has made a sharp turn overnight.

Iron ore prices have suffered tremendously in 2022 amid weakening global demand, tightening monetary policy and a slowdown in China’s property sector.

In yesterday’s U.S. session however, iron ore futures lifted from 2-week lows as demand out of China showed signs of an improvement.

As Reuters reported, prices for the main ingredient in steelmaking rose 3.2% on Chinese exchanges and 2.8% on the Singapore Exchange.

This is backed by news the China Development Bank will increase the number of loans to local municipalities for infrastructure projects.

The moves come amid a weakened economic outlook in China following extended COVID-19 lockdowns and a slowdown in its property sector.

In addition, Rio made headlines yesterday after it announced the signing of a memorandum of understanding (MOU) with Shougang Group of China, to invest in the production of low-carbon solutions in steelmaking.

Rio has the aim of reducing scope 1 and 2 emissions by around 15% by 2025, and 50% by 2030 with $7.5 billion in investments allocated to the cause.

Therefore the MOU with Shougang is a step in the direction of achieving these goals.

Finally, Rio confirmed earlier this week that it will not make an improved offer on its acquisition price of Turquoise Hill Resources (NYSE: TRQ) after a large stakeholder said Rio had undervalued its assets.

Meanwhile, it’s been a difficult year for the Rio Tinto share price. Over the past 12 months to date, it has slipped nearly 6% into the red and is down almost 7% since January.

The post Why is the Rio Tinto share price sparkling in a sea of red today? appeared first on The Motley Fool Australia.

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More reading

• Own Rio Tinto shares? It’s time to dig into your dividends
• $18 billion of ASX dividends are being paid out this week. Here’s the lowdown
• Why China’s slowdown isn’t as bad as it looks for ASX 200 mining shares
• Down 19% since June, where to next for the Rio Tinto share price?
• Could the latest news out of China bode well for ASX 200 iron ore shares?

Motley Fool contributor Zach Bristow 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 Paladin Energy Ltd (ASX: PDN) share price has soared in the past month. But could it go even higher?

Paladin shares have leapt 14.7% since market close on 23 August and are currently trading at 78 cents. In today’s trade, the Paladin share price is down 7.14%. Industrial action in France is disrupting nuclear power generation, according to Reuters.

Let’s take a look at the outlook for the Paladin Energy share price.

What’s going on?

Paladin is a uranium explorer and producer with a 75% stake in the Langer Heinrich uranium mine in Namibia.

The company’s share price has risen in the past month amid the global energy crisis.

Analysts at Macquarie have recently tipped the Paladin Energy share price to rise and have a $1.10 price target on the company. This is a 41% upside on the current share price.

The broker likes Paladin since it has a “near-term path to market” and is “fully licensed in known uranium jurisdictions”.

Meanwhile, news that multiple nations are planning to restart nuclear reactors could also help the Paladin share price. Uranium is a fuel for nuclear power reactors.

For example, Japan is planning to revamp seven nuclear reactors by the northern hemisphere summer next year. This follows Japan closing down nuclear plants after the 2011 Fukushima disaster. Germany and Belgium are also looking to keep their nuclear power plants open for longer. The Philippines is also looking into setting up modular nuclear power plants, according to a news report today.

A new United Nations report released this week has recommended the UNECE region “scale up electrification of all sectors with emphasis on renewable energy and nuclear power” to achieve carbon neutrality. The report states:

To achieve carbon neutrality by 2050, renewable energy supply will grow fastest, followed by nuclear power. All technology solutions leading to carbon neutrality need to be supported.

Paladin Energy share price snapshot

Paladin shares have fallen 8% in the past year, while they have lost 11% year to date.

For perspective, the S&P/ASX 200 Energy Index (ASX: XEJ) has gained 30% in the past 12 months and around 32% year to date.

Paladin has a market capitalisation of nearly $2.3 billion based on the current share price.

The post Up 14% in a month, could the Paladin Energy share price go higher? appeared first on The Motley Fool Australia.

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More reading

• Why are ASX uranium shares getting smashed on Friday?
• Even with today’s falls, the Paladin Energy share price is still up 31% in 3 weeks. Here’s why
• ASX uranium shares have had a stellar month. Are they just getting started?
• Why Macquarie is tipping 15% upside for the Paladin Energy share price
• Why has the Paladin Energy share price rocketed 20% in a month?

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 Macquarie 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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