The BHP Group Ltd (ASX: BHP) share price has climbed in the last month, but can this top run continue?

BHP shares have lifted 5.3% from $44.08 at market close on 16 May to $46.43 at market close on Friday. For perspective, the S&P/ASX 200 (ASX: XJO) has slipped 0.22% in a month.

So what is the outlook for the iron ore price, and how could this impact BHP shares?

Will BHP shares lift?

Like Rio Tinto Ltd (ASX: RIO) and Fortescue Metals Group Ltd (ASX: FMG), BHP is a major iron ore-producing giant. Iron ore is used to make steel.

The biggest iron ore importer in the world is China. Therefore, economic news out of China can influence market sentiment on the iron ore price.

The outlook for iron ore is varied and appears to be changing almost on a daily basis at the moment.

Early last week, iron ore prices descended amid a caution from Goldman Sachs that property weakness could drag on China's economy.

Citi Group also cut its iron ore forecast to $100 in the third quarter and $90 in the fourth quarter of this year in early June.

Discussing the iron ore price in quotes cited by Bloomberg, China Industrial Futures Co analyst Wei Ying said:

We noticed some bulls are exiting as investors are cautious in chasing a rally like this.

After all, the iron ore market will be in a slight surplus in the second half and we expect inventories at Chinese ports to increase.

However, iron ore prices rallied later in the week on the back of news China is considering stimulus measures for the economy. Commenting on this prospect in a research note on Thursday, ANZ economist John Bromhead said:

Iron ore futures extended recent gains as investors bet on further stimulus measures boosting demand for iron ore and steel.

Sentiment was supported by data from the China Iron and Steel Association that showed steel output at major Chinese mills jumped 6.5% in early June from late May.

ANZ commodity strategists Daniel Hynes and Soni Kumari are concerned muted steel demand from China property markets could be a key headwind for iron ore in the future, forecasting: "We see prices finding a floor near US$95 a tonne".

Copper prices could also impact the BHP share price going forward. In early May, BHP finalised the deal to take over Oz Minerals. This provides BHP with more exposure to copper via the Prominent Hill and Carrapateena mines. BHP already owns Olympic Dam, also in South Australia.

Meanwhile, analysts at Goldman Sachs are predicting BHP will pay total fully franked dividends of US$1.90 in FY 2023 and US$1.50 in FY 2024.

Goldman has a buy rating on BHP in light of a "major opportunity" to grow copper production. Analysts said:

For BHP, we continue to believe that its major opportunity (and challenge) is growing copper production and offsetting copper reserve depletion and grade decline in Chile, and growing copper production and capturing synergies in South Australia.

BHP share price snapshot

The BHP share price has risen 5.48% in the last year, while it has elevated 1.73% in the year to date.

This ASX 200 mining share has a market capitalisation of just over $235 billion based on the latest share price.

The post Are BHP shares about to pounce, or could the iron ore price spoil the party? appeared first on The Motley Fool Australia.

More reading

• 2 ASX 200 mining shares this fund manager is backing for long-term growth
• Buying ASX 200 mining shares? Here's how Rio Tinto, Fortescue and BHP stacked up in March
• Why sitting out this ASX share market chaos could cost you big
• Why now could be the perfect time to buy ASX dividend stocks
• How are these 5 ASX share giants really tracking in 2026?

Citigroup is an advertising partner of The Ascent, a Motley Fool company. 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 Goldman Sachs Group. 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.

ASX 200 lithium share Mineral Resources Ltd (ASX: MIN) has fallen in the year to date, so is now the time to buy?

The company's share price has slid nearly 5% from $77.20 at market close on 30 December to $73.28 at the closing bell on Friday.

Let's check the outlook for this ASX 200 lithium share.

Is Mineral Resources a buy?

Mineral Resources is not just an ASX 200 lithium share. The company also has iron ore and energy operations in Western Australia.

Analysts at Morgans have placed an add rating and a $93 price target on the company. This implies an upside of 27% based on the latest closing price.

Commenting on the outlook for Mineral Resources, Morgans said:

We see MIN's lithium and iron ore market exposures as an ideal combination to benefit from the China re-opening increase in demand during 1H CY23.

We also see MIN as well placed to grow into its valuation, even if we see unexpected metal price volatility, given the magnitude of organic growth in the pipeline.

The broker noted Mineral Resources is a "founder-led business and top tier miner and crusher" that has "grown consistently" despite barely issuing a share in the last decade. Billionaire Chris Ellison founded Mineral Resources and remains the company's managing director.

The team at Morgans added:

Also helping our investment view is that MIN's diversification leaves it far more capable of tolerating volatility in lithium markets than its peers in the sector. 

Mineral Resources is also a buy recommendation in the eyes of Fairmont Equities managing director Michael Gable.

Gable noted weak iron ore and lithium prices contributed to Mineral Resources shares falling from late January to early June, but now these commodities are recovering.

Commenting on Mineral Resources, he said:

Recently, lithium and iron ore prices appear to be finding support.

The share price of this diversified resources company is also bottoming on the chart. Mineral Resources is potentially a good entry point around recent levels

Meanwhile, on Friday, Mineral Resources provided an exploration and lithium update. The company has found a "significant natural gas discovery" at North Erregulla Deep-1.

The company also advised early results at the Mt Marion lithium mine confirm "significant exploration potential".

Share price snapshot

The Mineral Resources share price has soared 37% in the past year.

This ASX 200 lithium share has a market capitalisation of about $14.2 billion based on the latest share price.

The post 27% upside and 5 other reasons to buy this ASX 200 lithium share: top brokers appeared first on The Motley Fool Australia.

More reading

• ASX 200 mining shares ride a rollercoaster in March quarter
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• Here are the top 10 ASX 200 shares today
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• Australia's next great ASX mining boom: Are we already in it?

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.

The Mineral Resources Ltd (ASX: MIN) share price stormed ahead in Friday afternoon trade on the back of a lithium and natural gas update.

The ASX 200 mining share was trading 3.69% higher to close at $73.00 on Friday. In comparison, the S&P/ASX 200 (ASX: XJO) closed 1.06% higher today. The mining company's share price was up and down like a yo-yo today, slipping to a low of $70.34 in the afternoon before hitting a daily high of $73.50.

Let's take a look at what Mineral Resources has discovered during its exploration activities.

What happened?

Mineral Resources shares lifted higher today on news of a significant natural gas discovery at the North Erregulla Deep-1 (NED-1) conventional gas exploration well.

This is the company's second major gas discovery from three wells drilled in the last two years in the Perth Basin, Western Australia.

Drilling reached a total measured depth relative to the rotary table (MDRT) and achieved elevated gas readings.

In further news, Darren Hardy has been appointed to the role of energy chief executive at Mineral Resources.

Commenting on today's update, Mineral Resources managing director Chris Ellison said:

The success at North Erregulla Deep-1 is another stride forward in our Perth Basin exploration
campaign and our second significant natural gas discovery in less than two year.

I am pleased to confirm the appointment of Darren Hardy as Chief Executive, Energy, to lead MinRes'
energy transition strategy. His immediate focus is the successful completion of the Perth Basin drilling
campaign and the development of these major discoveries into production.

On the lithium front, Mineral Resources updated the market on early results at the Mt Marion lithium mine.

Results from 34km of drilling at the site show "significant exploration potential at depth".

Drilling capacity at the site is predicted to double by the end of the 2023 calendar year. Mineral Resources said early results showed the "significant opportunity" for open pit extensions and underground potential".

Discussing the lithium results, Ellison said:

The exciting exploration results at Mt Marion highlight we are just scratching the surface of the potential lithium resource, including the possibility of underground mining.

Share price snapshot

Mineral Resources shares have soared ahead 40.9% in the last 12 months.

This ASX 200 mining share has a market cap of about $14.2 billion.

The post Mineral Resources share price jumps on 'significant natural gas discovery' appeared first on The Motley Fool Australia.

More reading

• ASX 200 mining shares ride a rollercoaster in March quarter
• ASX 200 mining shares rebound after March sell-off creates opportunities
• Here are the top 10 ASX 200 shares today
• Here are the top 10 ASX 200 shares today
• Australia's next great ASX mining boom: Are we already in it?

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.

ASX 200 uranium share Paladin Energy Ltd (ASX: PDN) has risen 13% in a year, but is now a good time to buy?

Paladin shares have jumped 13% from 64 cents at market close on 16 June 2022 to 72.5 cents at the time of writing. For perspective, the S&P/ASX 200 Index (ASX: XJO) has jumped nearly 10% in a year.

So what is the outlook for the Paladin Energy share price?

Can this ASX 200 uranium share go higher?

Paladin Energy is a uranium explorer with a 75% stake in the Langer Heinrich mine in Namibia. Paladin is aiming to bring this mine to production in the first quarter of the 2024 calendar year.

Analysts at Bell Potter have placed a "speculative buy" rating on the Paladin Energy share price with a 99 cent price target.

This implies a nearly 37% upside based on the ASX 200 uranium company's latest share price.

The team at Bell Potter is positive on Paladin amid planned production at the Langer Heinrich mine.

We believe there is plenty of upside for PDN left on the table, with a supportive outlook for uranium and nuclear, and near-term catalysts in the restart of Langer Heinrich (BPe 1QCY24). Term contracting volumes continue to build, with reports that up to 107Mlbs have been signed year-to-date (CY22 130Mlbs and CY21 55Mlbs).

Paladin's portfolio of base escalated contracts in combination with the CNNC offtake provides downside protection and significant (25%-39%) exposure to spot prices (with attractive payment terms), which we believe will benefit over the next 1-2 years.

Paladin advised in a quarterly report early this year that the Langer Heinrich project is "on track and on budget" for first production. More than 600 staff have been deployed to the site.

As of 31 March 2023, Paladin already had five uranium offtake agreements with companies in the USA, Asia and Europe. Commenting on the company's strategy for securing contracts, Paladin said:

Paladin has a stated strategy to secure contracts ahead of production. These contracts range in duration and pricing, and provide base-escalated, fixed-price and market-related pricing mechanisms.

Paladin Energy share price snapshot

The Paladin Energy share price has climbed nearly 4% year to date and close to 11% in the past month.

This ASX 200 uranium share has a market cap of about $2.2 billion based on the latest share price.

The post Is ASX 200 uranium share Paladin Energy a buy at around 73 cents? appeared first on The Motley Fool Australia.

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• Here are the top 10 ASX 200 shares today
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• Here are the top 10 ASX 200 shares today

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.

The Fortescue Metals Group Ltd (ASX: FMG) share price is having a top run in the month of June.

Fortescue shares have risen 16% from $19.22 at market close on 31 May to $22.33 at the time of writing. In comparison, the S&P/ASX 200 (ASX: XJO) has climbed 1.7% in the same time frame.

So why is Fortescue having such a good month?

What's the deal?

Fortescue is a huge iron ore producer also working on green energy projects including hydrogen.

A rise in the iron ore price may be providing Fortescue shares with a boost this month.

The iron ore price has soared 16.5% from US$100 per tonne at market close on 31 May to US$116.50 a tonne at the time of writing, trading economics data shows.

Iron ore imports to China rose 6.34% month on month and 3.95% year on year to 96.17 million in the month of May, trade data released in early June showed.

In a research report, ANZ Group Holdings Ltd (ASX: ANZ) senior commodity strategist Daniel Hynes said, "Iron ore imports saw a surprise increase to 96 million tonnes despite narrowing steel mill profitability". He added:

Declining port inventories encouraged more shipments. Steel mill utilisation rates are improving, with a rebound in daily steel output.

Despite a downbeat steel-demand outlook, iron ore imports are likely to be resilient due to
recent destocking by mills.

Early in June, Fortescue announced the hire of Christine Morris as chief financial officer. Fortescue CEO Fiona Hick said, "During this critical time of growth and development, Christine will help lead the business to our next phase".

Commenting on her new role, Morris said:

My focus will be on continuing to provide exceptional value for Fortescue shareholders and
maintaining and growing the strength of our iron ore and emerging critical minerals business

Fortescue share price snapshot

The Fortescue share price has returned nearly 14% in the last year.

Fortescue has a market capitalisation of about $68.75 billion based on the latest share price.

The post Why is the Fortescue share price having such a strong month so far? appeared first on The Motley Fool Australia.

More reading

• Buying ASX 200 mining shares? Here's how Rio Tinto, Fortescue and BHP stacked up in March
• ASX 200 mining shares ride a rollercoaster in March quarter
• 3 reasons why this could be a great time to buy Fortescue shares!
• ASX 200 mining shares rebound after March sell-off creates opportunities
• Is this ASX iron ore stock a better buy than Fortescue?

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.

ASX lithium shares are a hot topic among investors, but some get more publicity than others.

One share that appears to have soared steadily ahead on the market this year is Latin Resources Ltd (ASX: LRS).

Latin Resources stock has exploded 185.7% in the last year. In comparison, Core Lithium Ltd (ASX: CXO) shares have lost 17%, Pilbara Minerals Ltd (ASX: PLS) shares have soared 119%, Sayona Mining Ltd (ASX: SYA) shares have risen 25% and Lake Resources N.L. (ASX: LKE) shares have shed 72% in a year.

So why has ASX lithium share Latin Resources had such a stellar run in the last year?

What's the deal?

Latin Resources is exploring the Salinas Lithium Project in Brazil. The Colina Lithium Deposit at the project has a current mineral resources estimate of 13.3 million tonnes at 1.2% lithium oxide.

This ASX lithium share doubled from 10 cents at market close on 24 March to 20 cents at market close on Thursday.

Latin Resources stock also soared 100% between market close on 2 August and 24 August.

In December, Latin Resources had a rough patch, sliding nearly 36% between market close on 2 December and 29 December.

In April, Latin Resources advised the market it had received commitments for a $37.1 million capital raise. This provided the company with a $57 million cash balance to further the development of the Salinas Lithium Project.

Latin Resources then provided news in May that drilling confirmed lithium pegmatites at Colina extend more than two kilometres.

In June, Latin Resources informed the market that a resource upgrade at the Colina Lithium Deposit is "imminent".

Final significant intercepts from the drilling program have been received including 8.16 metres at 1.36% lithium oxide from 318 metres.

Further "highly anticipated" results from drilling will be reported to the market as they are received.

Commenting on the news, Latin Resources VP of operations Tony Greenaway said:

We are all eagerly awaiting the outcome of this process, as we believe that we will see a significant expansion in the JORC resource for Colina, given the exceptional results we have been seeing in our drilling this year.

Latin Resources is expecting to deliver the updated lithium resource update sometime in June.

Latin Resources share price snapshot

Latin Resources stock has soared 100% in the year to date and risen 18% in the last month.

This ASX lithium share has a market capitalisation of about $510 million based on the latest share price.

The post Is Latin Resources stock the quiet achiever of the ASX lithium sector? 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.

The BHP Group Ltd (ASX: BHP) share price has risen against the ASX 200 this week.

BHP shares have gained 3.4% since market close on 9 June from $44.72 to close at $46.25 on Thursday. For perspective, the S&P/ASX 200 (ASX: XJO) has climbed 0.75% in the same time frame.

Let's take a look at what's been going on with the BHP share price.

What's happening?

BHP is not the only ASX 200 iron ore share that has lifted since the start of the week. Rio Tinto Ltd (ASX: RIO) shares have gained 2.8% since market close last Friday, while Fortescue Metals Group Ltd (ASX: FMG) shares have jumped 8.1%.

The iron ore price has increased 5% in a week and is now trading at US$114.50 a tonne, Trading Economics data shows.

This improving iron ore sentiment appears to have given BHP a boost on the market this week.

ANZ economist John Bromhead highlighted base metals lifted amid speculation that Chinese officials could be planning economic stimulus measures. In a research note this morning, he said:

Iron ore futures extended recent gains as investors bet on further stimulus measures boosting demand for iron ore and steel.

Sentiment was supported by data from the China Iron & Steel Association that showed steel output at major Chinese mills jumped 6.5% in early June from late May.

However, the gains were limited amid concerns the government's room to manoeuvre may be limited by already stretched local government balance sheets.

The gains over the past two days come after BHP and other ASX 200 iron ore shares had a shaky start to the week. On Tuesday, BHP shares slid 0.96%.

Meanwhile, analysts at Goldman Sachs have retained a buy rating on BHP shares with a $46.90 price target.

Goldman predicts BHP to pay fully franked dividends of US$1.90 a share in FY 2023 and US$1.50 in FY 2024.

Share price snapshot

The BHP share price has risen nearly 5% in the past 12 months.

BHP has a market capitalisation of about $234.29 billion based on the latest share price.

The post Why are BHP shares having such a stellar week? appeared first on The Motley Fool Australia.

More reading

• 2 ASX 200 mining shares this fund manager is backing for long-term growth
• Buying ASX 200 mining shares? Here's how Rio Tinto, Fortescue and BHP stacked up in March
• Why sitting out this ASX share market chaos could cost you big
• Why now could be the perfect time to buy ASX dividend stocks
• How are these 5 ASX share giants really tracking in 2026?

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.

It's been a big day for this microcap ASX lithium share which stormed ahead more than 70% around lunchtime today before shedding some of its gains.

The Errawarra Resources Ltd (ASX: ERW) share price exploded 73.9% from 11.5 cents to 20 cents today. Now, the company's share price has pulled back to 18 cents, a 52% gain on yesterday's close. In contrast, the S&P/ASX 200 Materials Index (ASX: XMJ) is slipping 0.11% at the time of writing.

So what is driving investor excitement in this ASX lithium share today?

Lithium exploration update

Investors are buying up Errawarra shares after the company provided a lithium exploration update.

Errawarra is exploring the Andover West project in the north-western portion of the Pilbara Craton in Western Australia.

Today, the company revealed there was "potential for lithium-bearing pegmatites across the Andover project tenements".

Exploration teams recovered seven pegmatite samples during the first field program in May. These have been dispatched to ALS Global in Perth, with results currently pending.

A second round of work, including sampling of pegmatite targets, is now taking place. The company is also searching for nickel and copper mineralisation.

Management commentary

Commenting on the news, Errawarra chairman Tom Reddicliffe said:

We are encouraged by the presence of further pegmatites on the Andover West project tenement with sampling of targets continuing.

We are also pleased with the results achieved by our neighbour, Azure Minerals Ltd and their continued success in discovering and drilling for lithium, with the latest results being outstanding.

We are very much excited by what the Pilbara region keeps delivering to the market and we look forward to continuing with our exploration activity

Share price snapshot

Today's surge is not enough to reverse the downward swing for Errawarra Resources shares over recent months. The company's share price has dropped almost 24% since the start of 2023.

This ASX lithium share has a market capitalisation of around $10.24 million based on the latest share price.

The post 'Very much excited': Guess which ASX lithium share just soared 70% 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.

The S&P/ASX 200 Index (ASX: XJO) is currently up 0.28%, but ASX 200 lithium shares are missing the party.

Lithium shares in the red today include:

• Core Lithium Ltd (ASX: CXO) shares are down 2.66%
• Pilbara Minerals Ltd (ASX: PLS) shares are sliding 3.69%
• Allkem Ltd (ASX: AKE) shares are falling 2.83%
• Mineral Resources Ltd (ASX: MIN) shares are down 1.81%

So what is going on with ASX 200 lithium shares on Thursday?

What's going on?

ASX 200 lithium shares are following a similar trend to US lithium shares overnight.

Sociedad Quimica y Minera de Chile (NYSE: SQM) shares slid 1.65%, while the Livent Corp (NYSE: LITHM) share price fell 3.7%. Shares in Albermarle Corporation (NYSE: ALB) dropped 0.9%.

In news overnight, Chile and the European Union are set to sign a MOU [memorandum of understanding] to develop value-added lithium projects in Chile, Reuters reported.

Speaking at a joint press conference with Chile president Gabriel Boric, European Commission president Ursula von der Leyen said:

We're working to sign an MOU soon. This strategic association will allow us to create local added value here in Chile.

Multiple US and Australian lithium shares have projects in Chile, so this extra competition from Europe could be influencing lithium supply sentiment.

ASX 200 lithium shares are also shedding gains they made yesterday after the market responded positively to US inflation data.

Looking ahead, the team at Goldman Sachs has a sell rating on Core Lithium with a 75-cent price target. Morgans has given Core Lithium a hold rating and a $1.05 price target.

Meanwhile, Mineral Resources could be a buy, the team at Morgans believes. Analysts have placed an add rating on the share with a $93 price target.

The broker is optimistic about Mineral Resources' "diversification" which could help it tolerate volatility in lithium markets. Morgans said:

We see MIN's lithium/iron ore market exposures as an ideal combination to benefit from the China re-opening increase in demand during 1H CY23. 

Share price snapshot

Pilbara Minerals shares have surged 129% in a year, while Core Lithium shares have shed 12%.

Allkem shares are up 55% in the past 12 months, while the Mineral Resources share price has risen 31%.

The post Why are ASX 200 lithium shares tumbling 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.

Lynas Rare Earths Ltd (ASX: LYC) shares have plunged since February, but could this be an opportunity?

Lynas shares have shed 20.82% since market close on 1 February and are now priced at $7.68 apiece. For perspective, the S&P/ASX 200 Materials Index (ASX: XMJ) has dropped nearly 5% during the same time frame.

Let's take a look at the outlook for this ASX rare earths share.

What's on the cards?

Lynas Rare Earths is producing rare earths from the Mt Weld mine in Western Australia. The company also operates rare earths processing plants in Malaysia and Kalgoorlie.

One analyst recommending Lynas shares as a buy is Fairmont Equities managing director Michael Gable.

Gable is optimistic Lynas will attract more investors, despite being "oversold" in recent times. Commenting on The Bull, Gable said:

LYC shares were recently oversold on the back of concerns that production would be impacted when LYC switched to its new processing plant in Kalgoorlie.

With an extension granted to its Malaysian plant, LYC won't lose any production time. Combined with improving sentiment in the resources space, we expect the stock to attract more buyers at recent prices.

On the flip side, Goldman Sachs slapped Lynas with a $6.90 price target last month, implying a 10% downside for the share price.

However, Macquarie placed an outperform rating on Lynas while Bell Potter lifted its 12-month price target on the company's share price to $8.90.

In early May, Lynas received positive news that it will be able to keep operating its Malaysian processing facility until 1 January 2024. This follows Lynas' appeal to Malaysia's Minister of Science, Technology and Innovation. Previously, Lynas had advised it would need to shut down the Malaysian facility in July.

Share price snapshot

The Lynas Rare Earths share price has lost nearly 10% in the past year.

This ASX rare earths share has a market capitalisation of about $7.1 billion based on the latest share price.

The post Down 20% since February, have Lynas rare earths shares been oversold? 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.

The Fortescue Metals Group Ltd (ASX: FMG) share price has fallen slightly in the last year, but how will China's steel demand impact iron ore sentiment?

Fortescue shares have slid 4.36% in the last year. For perspective, the S&P/ASX 200 Materials Index (ASX: XMJ) has jumped 0.02% in the past year.

Let's take a look at the outlook for the Fortescue share price.

What's the outlook?

Firstly, it's worth noting that Fortescue is a huge producer of iron ore. Fortescue is also building hydropower, geothermal, wind and solar assets via Fortescue Future Industries.

Looking at the iron ore outlook, China commodity imports for May defied expectations, ANZ research highlighted in a recent report.

Iron ore imports rose 6.34% month on month and 3.95% year on year to 96.17 million in May, recent data shows. Commenting on this trend, ANZ commodity strategists Daniel Hynes and Soni Kumari said:

Iron ore imports saw a surprise increase to 96mt despite narrowing steel mill profitability. Declining port inventories encouraged more shipments.

However, despite this, the strategists still have concerns about the iron ore outlook. In a commodity report published on 8 June, Hynes and Kumari noted "muted steel demand from China's property markets during the peak construction season is a key headwind for iron ore and coking coal demand". They have a US $95 a tonne price target on iron ore, and commented:

Narrowing profit margins could see loss-making steel plants curtail operations, which would slow
steel production growth in Q2 2023.

Further, the increased amount of steel produced using the Electric Arc Furnace process is reducing demand for iron ore.

Meanwhile, analysts at Goldman Sachs warned China's property recovery could be "L-shaped", impacting the country's economy Bloomberg reported. Steel is used in property construction and iron ore is the major ingredient in steel.

Citi has also sounded a similar warning on steel demand in China if the property rebound is weak, the publication noted.

Commenting on the outlook for iron ore, China Industrial Futures Co analyst Wei Ying told the publication:

We noticed some bulls are exiting as investors are cautious in chasing a rally like this.

After all, the iron ore market will be in a slight surplus in the second half and we expect inventories at Chinese ports to increase.

Fortescue share price snapshot

The Fortescue share price has climbed 0.07% year to date and 2% in the past month.

This ASX 200 mining share has a market cap of about $63.2 billion based on the latest share price.

The post Could the latest China trade data be a good sign for the Fortescue share price? appeared first on The Motley Fool Australia.

More reading

• Buying ASX 200 mining shares? Here's how Rio Tinto, Fortescue and BHP stacked up in March
• ASX 200 mining shares ride a rollercoaster in March quarter
• 3 reasons why this could be a great time to buy Fortescue shares!
• ASX 200 mining shares rebound after March sell-off creates opportunities
• Is this ASX iron ore stock a better buy than Fortescue?

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.

The S&P/ASX 200 Index (ASX: XJO) gained 0.32% today, but these three ASX shares soared far higher.

Intelligent Monitoring Group (ASX: IMB), Iperionx Ltd (ASX: IPX), and Golden Mile Resources Ltd (ASX: G88) shares all charged ahead today.

So why did these three ASX shares outperform the broader market? Let's take a look.

Golden Mile

Golden Mile shares skyrocketed a massive 133% today. The Western Australian-based resources company discovered the "highest ever" nickel grades at its 100%-owned Quicksilver deposit.

Diamond drilling for stage three metallurgical testwork intersected with "very wide zones" of high-grade nickel mineralisation.

This included 49 metres at 1.74% nickel and 0.071% cobalt from 30 metres at drill hole 23QDD008.

Commenting on the news, Golden Mile managing director Damon Dormer said:

These are spectacular intersections and the highest nickel grade we have ever encountered at Quicksilver.

IperionX

Titanium share IperionX surged 69% today on the back of a deal with the Ford Motor Company. IperionX will supply its 100% recycled, low-carbon titanium metal to the car manufacturer.

IperionX has been working with Ford to design, test, and manufacture high-quality titanium parts for future Ford Performance production vehicles.

Ford has plans to be carbon neutral by 2050.

Commenting on the news, IperionX CEO Anastasios (Taso) Arima said:

We are proud to partner with Ford to accelerate the deployment of a sustainable, circular titanium supply chain for the global automotive market.

Our low-carbon titanium metal is uniquely made with 100% recycled titanium and can significantly improve automotive supply chains by using high-strength titanium components with nearly half the weight of steel.

Intelligent Monitoring

Finally, Intelligent Monitoring shares rocketed 67% ahead today on the back of takeover news. The company has entered into a binding agreement to acquire all the shares of Tyco Australia Group Pty Limited. Tyco is a security monitoring provider with customers in Australia and New Zealand.

Intelligent Monitoring will pay $45 million for the acquisition, which is subject to conditions expected to be settled by 1 August.

Intelligent Monitoring forecasts the new combined business will deliver an EBITDA of about $24.8 million, aside from transaction and restructure costs.

Commenting on the news, managing director Dennison Hambling said:

The opportunity to create a market leading business, with one of the most recognisable security brands in the world, is an exciting new development in the IMG journey.

The post 3 ASX shares that exploded 60 to 133% on Wednesday appeared first on The Motley Fool Australia.

More reading

• Here are the top 10 ASX 200 shares today
• These were the worst-performing ASX 200 shares in March
• Here are the top 10 ASX 200 shares today
• Why the IperionX share price just crashed 22% today
• This ASX stock just plunged 16% today. Here's what spooked investors

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.

ASX 200 iron ore shares are having a top run on the market on Wednesday.

Among those climbing higher in late afternoon trading are:

• BHP Group Ltd (ASX: BHP) shares, up 3.14%
• Fortescue Metals Group Ltd (ASX: FMG) shares, up 4.98%
• Rio Tinto Ltd (ASX: RIO) shares, up 3.2%

So what is going on with ASX 200 iron ore shares today?

What's happening?

BHP, Fortescue, and Rio Tinto are all major iron ore producers. BHP and Rio Tinto also produce other metals, including copper, gold, and aluminium.

Currently, iron ore for a July China future contract (62% Fe Fines) is up 0.39% to US$112.10 a tonne on the Singapore Exchange.

As well, China could be considering a stimulus package for its real estate sector, boosting sentiment for the commodity. Iron ore is used to make steel which is, in turn, is key to the building and construction industry.

Commenting on the iron ore price in an ANZ research note today, ANZ senior economist Adelaide Timbrell said:

The prospect of further support for the property sector saw iron ore futures rally. The measures are said to be focusing on lowering costs on outstanding residential mortgages and boosting relending through the nation's policy banks to ensure homes are delivered.

Iron ore lifted 2.52% overnight, while copper jumped 1.8% to US$8,460 a tonne. Timbrell added: "Copper led the base metals higher after China cut its short-term policy interest rate."

Broader market sentiment could also be helping ASX 200 iron ore shares today. News the US could be pausing rates amid a marginal 0.1% lift in the US consumer price index (CPI) may be giving the mining sector a boost. The S&P/ASX 200 Materials Index (ASX: XMJ) is up 2.58% so far today. Of course, lower interest rates make borrowing cheaper.

Checking the outlook for ASX 200 iron ore shares, analysts at Goldman Sachs have recently recommended investors buy both BHP and Rio Tinto shares. Goldman has a conviction buy rating and $130.70 price target on Rio Tinto.

Goldman Sachs analysts said:

With the sector trading at a discount, we see this current period as a particularly compelling buying opportunity for the major miners such as RIO (Buy, CL), BHP & S32.AX (both Buys).

Global mining and diversified metals company South32 Ltd (ASX: S32) is another mining share Goldman is recommending investors consider buying.

Share price snapshot

The Rio Tinto share price has climbed 4.8% in the last year. BHP shares have jumped 3.3% in the past 12 months while Fortescue shares have surged 11% in the last year.

The post Why are ASX 200 iron ore shares smashing the market today? appeared first on The Motley Fool Australia.

More reading

• 2 ASX 200 mining shares this fund manager is backing for long-term growth
• Buying ASX 200 mining shares? Here's how Rio Tinto, Fortescue and BHP stacked up in March
• Why sitting out this ASX share market chaos could cost you big
• Why now could be the perfect time to buy ASX dividend stocks
• $7,500 invested in Rio Tinto shares 10 days ago is now worth…

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.

ASX 200 lithium shares are having a smashing run on the market today.

Lithium explorers and producers on the rise include:

• Pilbara Minerals Ltd (ASX: PLS), with shares up 3.48% to $4.91
• Allkem Ltd (ASX: AKE), jumping 4.23% to $16.00
• Core Lithium Ltd (ASX: CXO), 1.46% higher at $1.04

So what is going on with lithium shares trading on the ASX today?

What's going on?

ASX 200 lithium shares appear to be following in the footsteps of their counterparts in the United States, while the price of battery-grade lithium soared 8% to US$272,476 per mt on the Shanghai Metals Market.

US lithium giant Albemarle Corporation shares jumped 4.71% overnight, while Lithium Americas Corp shares were up 2.47%. Sociedad Quimica y Minera de Chile shares rose 3.91%.

Market sentiment in the US also appears strong amid new inflation data. The US consumer price index (CPI) rose just 0.1% last month, US Labor Department figures showed. This is driving speculation the US Federal Reserve may leave interest rates on hold tonight.

Commenting on this market sentiment to Reuters, SoFi New York investment strategy head Liz Young said:

If the Fed was looking for data to point to say, 'We're going to pause in June,' I think they got it today

Meanwhile, the US Department of Energy has announced $192 million in funding to recycle batteries from consumer products.

This announcement supports "the Biden-Harris Administration's goal to have EVs make up half of all vehicle sales in America by 2030", the department noted.

Lithium is an essential component in electric vehicle (EV) batteries. More than 3.6 million EVs have been sold in America up to April 2023, according to the department.

Looking at ASX 200 lithium shares, the team at Macquarie has recently placed a $7.70 price target on Pilbara Minerals shares. This implies a nearly 57% boost to the Pilbara share price based on the company's current share price of $4.92.

The broker also has an outperform rating on Core Lithium with a $1.30 price target. However, Citi rates Core Lithium as a sell with a 75-cent price target.

Finally, Bell Potter has a buy rating on Allkem, with a $19.20 price target.

ASX 200 lithium share price snapshot

The Pilbara Minerals share price has exploded 127% higher in the past 12 months, while Core Lithium shares are down 14%.

Allkem shares have soared nearly 56% in the last year.

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

More reading

• 2 ASX 200 mining shares this fund manager is backing for long-term growth
• Should I buy PLS Group shares in April?
• ASX 200 mining shares rebound after March sell-off creates opportunities
• Here are the top 10 ASX 200 shares today
• ASX lithium shares 'compelling' as top broker adjusts ratings

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.

The Pilbara Minerals Ltd (ASX: PLS) share price has soared more than 100% in a year, but can it go even higher?

Pilbara shares have soared 127% in 12 months and are currently fetching $4.92 apiece. For perspective, the S&P/ASX 200 Index (ASX: XJO) has returned 7% in a year.

In today's trade, Pilbara shares are up 3.9%.

Let's take a look at the outlook for this ASX 200 lithium share.

What's the outlook?

Pilbara Minerals is exploring the Pilgangoora lithium hard rock project, 120km from Port Hedland in Western Australia.

Analysts at Macquarie have placed an "outperform" rating on Pilbara Minerals with a $7.70 price target.

This implies a 56.8% upside based on Pilbara's current share price.

Macquarie is positive on Pilbara due to the company's expansion plans, downstream activities, and potential to continue to deliver "bumper profits".

On the flip side, Red Leaf Securities CEO John Athanasiou recommends investors sell Pilbara Minerals shares.

Athanasiou suggested investors "consider taking profit", given the share price doubled to 8 June 2023.

Commenting on Pilbara Minerals on The Bull, he said:

The company produced 148,131 dry metric tonnes of spodumene concentrate in the March quarter, down 9 per cent on the previous quarter. The average estimated realised spodumene concentrate sales price was down 15 per cent on the December quarter. 

Meanwhile, Morgans has recently retained its add rating on Pilbara shares with a $5 price target. Analysts are optimistic Pilbara is still well-positioned to deliver profit in the future. Morgans also believes a share buyback could be on the way.

Share price snapshot

The Pilbara share price has gained 35.6% in the year to date and climbed 3.8% in the past month.

Pilbara Minerals has a market capitalisation of about $14.7 billion based on the latest share price.

The post Can the Pilbara Minerals share price really deliver 60% upside? appeared first on The Motley Fool Australia.

More reading

• 2 ASX 200 mining shares this fund manager is backing for long-term growth
• Should I buy PLS Group shares in April?
• ASX 200 mining shares rebound after March sell-off creates opportunities
• Here are the top 10 ASX 200 shares today
• ASX lithium shares 'compelling' as top broker adjusts ratings

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.

This ASX rare earths share is exploring niobium, and its shares have soared more than 5,000% in a year.

Shares in WA1 Resources Ltd (ASX: WA1) have had a ripper of a year, exploding by a hefty 5,066% in the last 12 months. At the time of writing, the WA1 Resources share price is trading at $6.20.

So what is it about niobium that investors like, and how is it relevant to this ASX rare earths share?

What's to like about niobium?

WA1 Resources is exploring three projects in Western Australia, including the flagship West Arunta Project.

The company recently reported the highest niobium intersection to date at the West Arunta project. Shallow, high-grade niobium was shown to be present along a 1km stretch.

Niobium is used as an alloy in steel production for jet engines, rockets, oil rigs and building construction.

In a recent Money of Mine YouTube video, Datt Capital founder Emanuel Datt explained that niobium was a "really scarce commodity". He added:

Niobium has always been considered a bit of a niche mineral. Why that is, is historically supply has been really scarce.

Datt explained that incorporating 300 grams of niobium in a tonne of steel could reduce the weight of steel by 25%, so "ultimately, by reducing weight, you reduce cost".

In the case of WA1 Resources, Datt said the company was finding "world-class grades" of niobium via drilling at the West Arunta project:

There's no doubt in mind that this has multi-hundred million dollar tonne potential, which is big call.

In results on 5 June, WA1 highlighted impressive assay results, including 10 metres at 8.3% of niobium pentoxide.

Share price snapshot

The WA1 Resources share price has soared 344% in the year to date and nearly 89% in a month.

This ASX 200 rare earths share has a market cap of more than $243 million based on the latest share price.

The post What in the world of niobium do investors see in ASX rare earth share WA1 Resources? appeared first on The Motley Fool Australia.

More reading

• This $1 billion ASX explorer just dropped 8%. Here's what happened

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.

This ASX 200 gold share appears to have a strong balance sheet compared to other gold companies on the market.

Perseus Mining Ltd (ASX: PRU) is operating and developing multiple mines in Africa. It takes its place in the ASX 200 with other prominent gold shares including Northern Star Resources Ltd (ASX: NST) and Newcrest Mining Ltd (ASX: NCM).

So what is there to like about the balance sheet of this ASX 200 gold share?

How does this ASX 200 gold share compare?

Perseus operates three mines in West Africa including Sissingue, Yaoure, and Edikan. The company also has a 70% stake in the Meyas Sand Gold Project in Sudan and a 31.4% share of the Kone Gold Project in Cote d'Ivoire.

Perseus Mining has $426.8 million of cash and equivalents and a total debt-to-equity percentage of 0.221 (as at the latest quarter), according to an S&P Capital IQ company screening report.

A low debt-to-equity percentage means the company's liabilities compared to equity are low. This is often seen as a good sign for the company and its investors.

Looking at Perseus compared to other ASX 200 gold shares, the data shows Newcrest had cash and equivalents of $820 million, while Northern Star Resources had $571.1 million.

However, Perseus has a far lower total debt-to-equity percentage compared to these two ASX gold miners. The Newcrest total debt-to-equity percentage is 19.6%, compared to 9.75% for Northern Star.

Perseus Mining recently updated the market on the Meyas Sand Gold Project, 900 kilometres north of Sudan's capital, Khartoum.

Employees and contractors have been able to return to the mine site following their withdrawal in late April amid armed conflict in the Khartoum area. Drilling is due to start again by the end of the month.

Further, Perseus noted recent events in Sudan have had "no impact" on the company's gold production activities in West Africa.

Commenting on the update, Perseus managing director Jeff Quartermaine said:

Our decision to temporarily withdraw our people from the Meyas Sand Gold Project site in April was taken with their safety and security in mind.

With further assessment of the situation, it appears that the perceived immediate threat has abated and we are comfortable with the prospects of returning to work at the Meyas Sand site without undue risk.

Perseus produced 130,275 ounces of gold in the March quarter at an all in sustaining cost of US$971 an ounce.

The company reported an average cash margin of US$850 per ounce of gold sold, 11% higher than the prior quarter.

Share price snapshot

The Perseus Mining share price has slid 4% in the last year. Meantime, Northern Star shares have soared 63%, while Newcrest shares have jumped 12%.

The post Which ASX 200 gold share has a treasure trove for a balance sheet? appeared first on The Motley Fool Australia.

More reading

• Why Greatland Resources, Newmont, Northern Star, and Qantas shares are rising today
• Up 33% in 2 weeks, Northern Star share price surging again today on $500 million news
• Northern Star Resources posts Q3 gold sales, on track for FY26
• Should you buy the dip on gold shares? Expert
• 5 things to watch on the ASX 200 on Thursday

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.

The Fortescue Metals Group Ltd (ASX: FMG) share price is sliding against the ASX 200 today.

Fortescue shares are down 0.31% and are currently trading at $20.725. However, in earlier trade, Fortescue shares fell nearly 2% to $20.41. For perspective, the S&P/ASX 200 Index (ASX: XJO) is up 0.2% today.

So what is going on with the Fortescue share price today?

Iron ore price

Fortescue is not the only ASX 200 iron ore explorer in the red today. BHP Group Ltd (ASX: BHP) shares are sliding 1.07%, while Rio Tinto Ltd (ASX: RIO) shares are slipping 1.38%.

Fortescue shares appear to be falling today amid a drop in the iron ore price in the US overnight.

In a research report today, ANZ economist Madeline Dunk said:

Base metals edged lower as the weak economic backdrop weighed on sentiment.

The iron ore price slid nearly 5% in global markets overnight amid a warning on China's property market from Goldman Sachs, Bloomberg reported.

This follows Citi analysts raising concerns about steel demand in China and cutting its iron ore prediction to US$100 a tonne in the third quarter.

Citi believes iron ore could drop to US$90 a tonne in the last three months of calendar year 2023, the publication noted.

Commenting on the iron ore outlook, China Industrial Futures Co analyst Wei Ying said: "We noticed some bulls are exiting", adding:

…the iron ore market will be in a slight surplus in the second half and we expect inventories at Chinese ports to increase.

ANZ strategists also have a US$95 a tonne forecast on the iron ore price.

However, iron ore futures for the contract month of July are currently up 0.67% to US$109.60 a tonne on the Singapore Exchange.

Fortescue share price snapshot

Fortescue has a market cap of about $63.8 billion based on the latest share price.

The post Why is the Fortescue share price falling compared to the ASX 200 today? appeared first on The Motley Fool Australia.

More reading

• Buying ASX 200 mining shares? Here's how Rio Tinto, Fortescue and BHP stacked up in March
• ASX 200 mining shares ride a rollercoaster in March quarter
• 3 reasons why this could be a great time to buy Fortescue shares!
• ASX 200 mining shares rebound after March sell-off creates opportunities
• Is this ASX iron ore stock a better buy than Fortescue?

Citigroup is an advertising partner of The Ascent, a Motley Fool company. 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 Goldman Sachs Group. 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.

The IGO Ltd (ASX: IGO) share price is in the red today despite news of a new CEO.

IGO shares are sliding nearly 1.4% today and are currently fetching $14.40. However, the materials sector is also dropping today.

Let's take a look at what's going on with IGO today.

What's going on?

IGO is exploring multiple nickel projects in Western Australia and also has a stake in a lithium joint venture.

The nickel price fell 2% overnight to US$20,755 a tonne. The S&P/ASX 200 Materials Index (ASX: XMJ) is sliding 1% today.

In news today, IGO has hired Ivan Vella to be the company's next CEO and managing director. Vella joins IGO from Rio Tinto, where he has been working for 20 years.

In 2021, Vella took on the role of chief executive, aluminum at Rio Tinto following a stint as chief executive, iron ore.

Commenting on today's news, Vella said:

I am thrilled and honoured to be given the opportunity to join and lead the talented and strong team at this important time in IGO's history.

The company's purpose and values deeply resonate with me and IGO has positioned itself brilliantly to be at the forefront of the global transition to a green energy future. I am looking forward to playing a key role in this next stage of the company's development.

Vella will start the new role by 11 December following a handover at Rio Tinto.

Michael Dusci has been acting as CEO of Rio Tinto during a "rigorous and extensive" global search to fill the top job. Dusci had previously advised the board he did not want to be considered for the position.

Commenting on the new appointment, IGO chair Michael Nossal said:

We are delighted to have been able to attract an executive of Ivan's calibre to join IGO, and look
forward to his vision and leadership in steering the Company through its next exciting phase of
growth.

On behalf of the Board and everyone at IGO, I would also like to take this opportunity to thank and
acknowledge Matt Dusci, our Acting CEO, who stepped up last October after the passing of Peter
Bradford in the most difficult circumstances, and for his commitment to ensuring value-driven
leadership continuity during the transition

IGO share price snapshot

The IGO share price has lost more than 26% in the last year.

IGO has a market capitalisation of more than $10.9 billion based on the latest share price.

The post IGO shares slide despite a new CEO being snared from Rio Tinto appeared first on The Motley Fool Australia.

More reading

• ASX 200 mining shares rebound after March sell-off creates opportunities
• Here are the top 10 ASX 200 shares today
• ASX lithium shares 'compelling' as top broker adjusts ratings
• Australia's next great ASX mining boom: Are we already in it?

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.

Earning monthly income from ASX shares can be a good way of making extra cash on the side.

Two ASX communications stocks that pay dividends are Telstra Group Ltd (ASX: TLS) shares and TPG Telecom Ltd (ASX: TPG).

Let's take a look at these two ASX communication stocks and the dividend they pay in more detail.

Telstra shares

Telstra paid an interim dividend of 8.5 cents per share fully franked in the first half of FY23.

This follows an 8.5 cents per share dividend in the second half of FY22. In total, Telstra has paid 17 cents per share worth of dividends in the last year.

Telstra shares have climbed 0.23% in Friday's trade and are currently fetching $4.33. Telstra shares have jumped 12% in the past year.

Based on the current share price, this means Telstra has paid a trailing dividend yield of just over 3.9%.

Telstra's dividend in the first half of FY23 was 6.3%, more than that paid out in the first half of FY22.

The telco has a policy to "maximise the fully franked dividend and seek to grow it over time".

What about TPG?

TPG paid a fully franked dividend of 9 cents per share in the first half of FY23, on top of 9 cents in the second half of FY22.

This means in the last 12 months, TPG has paid total dividends of 18 cents per share.

The TPG share price has jumped 0.09% today and is now trading at $5.315. TPG shares have lost nearly 11% in the last year.

TPG has therefore paid a trailing dividend yield of about 3.4% to shareholders in the last year.

How much would I need to invest to receive $150 in monthly income?

Firstly, $150 in monthly income equates to $1800 in income for a year.

Looking at both of these shares, the average dividend yield if you invested equally in both would be close to 3.7%.

So, to receive $150 worth of passive income, I would need to invest around $48,648 with 65 cents left over.

If this seems a lot, I could alternatively invest $4,054 per month for 12 months in these two ASX communications stocks.

The post TPG and Telstra shares: How to earn $150 monthly income from 2 ASX communication stocks appeared first on The Motley Fool Australia.

More reading

• 2 defensive ASX dividend stocks for reliable income
• Here are the top 10 ASX 200 shares today
• Why now could be the perfect time to buy ASX dividend stocks
• Is Telstra stock a buy at $5.37 a share?
• 3 must-own ASX dividend shares which belong in every portfolio

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 positions in and has recommended Telstra Group. The Motley Fool Australia has recommended Tpg Telecom. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.