S&P/ASX All Ords Index (ASX: XAO) shares are down 0.6% to 8,900.2 points on Thursday.
The energy sector is leading today, up 1%, after Iran President Masoud Pezeshkian gave a speech at the UN General Assembly.
Pezeshkian said Iran would not allow ships through the Strait of Hormuz as long as the US blockade and sanctions remained in place.
The real estate sector is the laggard today, down 1.7%, as the market continues to anticipate an 0.25% interest rate rise next week.
Meanwhile, the experts have reduced their ratings on numerous ASX shares.
Let's see a sample.
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Resolute Mining Ltd (ASX: RSG)
The Resolute Mining share price is $1.20, down 2.3% today.
Over the past month, this ASX 200 gold share has fallen 11%.
Macquarie downgraded Resolute Mining shares to a hold rating on Monday.
The broker lowered its 12-month price target from $1.45 to $1.35.
This implies a potential 12% upside ahead.
Elders Ltd (ASX: ELD)
The Elders share price is $6.46, up 0.8% today.
Over the past month, this ASX 200 consumer staples share has ascended 11%.
Citi downgraded Elders shares to a hold rating this week.
The broker has a 12-month price target of $6.60.
This suggests a potential 2% upside ahead.
New Hope Corporation Ltd (ASX: NHC)
The New Hope Corporation share price is $5.84, down 0.2% today.
Over the past month, this ASX 200 coal share has fallen 1%.
Morgans downgraded New Hope shares to a hold recommendation this week.
The broker said:
Strong run, balanced view – NHC shares have rallied 60% YTD, supported by stronger coal prices and improving market sentiment. While we remain constructive on thermal coal fundamentals, the recent share price performance may provide an opportunity for investors to crystallise some gains.
Cash surprise drives dividend beat – Strong operational delivery and a year-end cash balance of A$485m supported a fully franked 30cps final dividend, materially ahead of MorgansF (20cps) and consensus (14cps).
Operational performance exceeded expectations – NHC delivered record saleable coal production of 11.5Mt and coal sales of 11.8Mt, exceeding the top end of guidance and demonstrating the resilience of its operations despite disruptions throughout the year.
AIC Mines Ltd (ASX: A1M)
The AIC Mines share price is 88 cents, down 4% today.
Over the past month, this ASX mining share has risen 8%.
MA Financial Group downgraded this gold and copper miner to a hold rating yesterday.
The broker increased its 12-month price target from 77 cents to 89 cents.
This implies a potential 1% gain over the next year.
