One miner is seeing its share price slipping while the other two are marching higher after releasing their quarterly updates this morning.

Which All Ords mining shares are we talking about?

Read on!

ASX All Ords mining share slips on sales slowdown

The Grange Resources Ltd (ASX: GRR) share price is down 1.4% currently, with shares swapping hands for 34.5 cents apiece. That sees the Grange Resources share price down a painful 32% so far in 2024.

Grange Resources operates an iron ore mining and pellet production business.

Investors are bidding down the All Ords mining share today after the company reported a 14% quarter on quarter decrease in pellet sales. Pellet sales came in at 483,000 tonnes, with adverse weather delaying two shipments at the end of June into early July.

The miner reported cash and liquid investments of $289.6 million and trade payable of $5.4 million, compared with cash and liquid investments of $272.0 million and trade receivable of $30.4 million for the March quarter.

On the plus side of the ledger, concentrate production increased 15% from the prior quarter to 675,000 tonnes. This helped drive a 10% decrease in unit cash operating costs.

Which brings us to…

Two ASX miners gaining on results

The first ASX All Ords mining share moving higher following its results is Iluka Resources Ltd (ASX: ILU). The Iluka Resources share price is up 2.0% at $6.28. That leaves the Iluka share price down 5% in 2024.

Investors are bidding up the global mineral sand and critical minerals miner after the company reported on ongoing successful progress with its major projects. This includes Eneabba, in Western Australia, where Iluka is building Australia's first fully integrated refinery for the production of separated rare earth oxides.

The miner will also be catching some tailwinds today with its Zircon sand sales increasing 23% quarter on quarter to 59,000 tonnes. Management noted that the increase came following a "relatively strong first quarter" for Zircon sales.

Which brings us to the third ASX All Ords mining share making a big move following its quarterly update, BCI Minerals Ltd (ASX: BCI). The miner is primarily focused on producing potash and salt.

In earlier trade today, the BCI Minerals share price was up 8.3%. After some likely profit-taking, shares are currently changing hands for 25 cents apiece, up 4.2%. That leaves the BCI Minerals share price down 11% so far in 2024.

The All Ords Mining share is enjoying a strong run today after reporting on the progress at its Mardie Salt & Potash Project in Western Australia. The miner said that the salt first component of the project was 44% complete at the end of June. BCI is targeting its first salt on ship in Q2 FY 2027.

The quarter also saw the All Ords Mining share sign a $598 million transhipment services agreement with CSL Australia Pty Ltd for a term of 21 years.

"BCI Minerals has made solid progress this quarter in infrastructure construction, regulatory approvals, and community engagement. These milestones underscore our dedication to progressing the Mardie Project," BCI managing director David Boshoff said.

The post 3 ASX All Ords mining shares on the move following quarterly updates appeared first on The Motley Fool Australia.

Four ASX shares that are rising more than most today are listed below. Here's why they are climbing:

Core Lithium Ltd (ASX: CXO)

The Core Lithium share price is up 6% to 26.5 cents. This is despite there being no news out of the lithium miner. However, it is worth noting that its shares were officially the worst performers on the ASX 200 in 2023. Some investors have a strategy that sees them start the year by buying "the dogs" of major indices. This could be happening today.

Grange Resources Limited (ASX: GRR)

The Grange Resources share price is up 6.5% to 49.5 cents. This follows the release of a board update, which reveals that the company's CEO, Honglin Zhao, will delay his retirement. Grange advised that Mr Zhao will continue to serve the company in his current position to ensure the goals of the next phase of important projects are achieved.

Loyal Lithium Ltd (ASX: LLI)

The Loyal Lithium share price is up 13% to 35 cents. This morning, the lithium explorer announced high grade channel assay results from three of the six pegmatite dykes at the Trieste Lithium Project in James Bay, Canada. Management notes that "the channel results from the summer field program demonstrate a strong lithium average grade across each dyke sampled."

West African Resources Ltd (ASX: WAF)

The West African share price is up over 2% to 96.5 cents. This follows news that the gold miner has made its first drawdown under the US$265 million secured loan facility from a fund managed by Sprott Resource Lending and Coris Bank International. The company has received its first US$100 million under the facility, which will be used for the development of the Kiaka Gold Project in Burkina Faso.

The post Why Core Lithium, Grange Resources, Loyal Lithium, and West African shares are rising appeared first on The Motley Fool Australia.

Four ASX shares that have failed to follow the market's lead are listed below. Here's why they are falling:

Austal Ltd (ASX: ASB)

The Austal share price is down almost 12% to $2.27. This morning, this shipbuilder downgraded its earnings guidance for FY 2023. It now expects its earnings before interest and tax to be breakeven to negative $10 million. This compares to its previous guidance for a profit of $58 million. Austal's US Towing, Salvage and Rescue Ship (T-ATS) program has been facing issues

Develop Global Ltd (ASX: DVP)

The Develop Global share price is down 3% to $3.23. This follows the release of the underground mining services and energy transition metals company's quarterly update. That update reveals that the company has advised Liontown Resources Ltd (ASX: LTR) that it has decided not to participate in the second-round tender for the underground contract at Kathleen Valley.

Grange Resources Limited (ASX: GRR)

The Grange Resources share price is down 3.5% to 56 cents. This morning, this iron ore pellet producer released its quarterly update. Grange revealed a sharp drop in both sales volumes and average realised prices compared to the previous quarter.

Winsome Resources Ltd (ASX: WR1)

The Winsome share price is down 4% to $1.63. Investors have been selling this lithium explorer's shares following the release of its quarterly update. Winsome has been having a difficult time recently due to wildfires in Canada. Today it advised that exploration activities are expected to recommence early in August post-damage assessment.

The post Why Austal, Develop Global, Grange, and Winsome shares are falling today appeared first on The Motley Fool Australia.

The 29Metals Ltd (ASX: 29M), Vulcan Energy Resources Ltd (ASX: VUL), and Grange Resources Ltd (ASX: GRR) share prices all closed on 12-month lows.

Let's take a look at what impacted these ASX mining stocks.

Grange Resources

This company's share price slid 3.67% today to a yearly low of 52.5 cents. Grange Resources is an iron ore producer. A drop in the iron ore price may have impacted the company's share price today. Iron ore peers BHP Group Ltd (ASX: BHP), Rio Tinto Ltd (ASX: RIO), and Fortescue Metals Group Ltd (ASX: FMG) also fell on Wednesday.

The iron ore price for a China futures contract in June (62% Fe Fines) has fallen nearly 3% on the Singapore Exchange to US$97.20.

Grange Resources sold 713,956 dry metric tonnes of iron ore product in the March quarter of 2023 at an average realised price of US$156.21 a tonne. The price was 20% higher than the December quarter.

Commenting on the future outlook for the company, CEO Honglin Zhao said:

The Company has achieved a strong start to the year with the mining team delivering record materials movement in a quarter. Iron ore price is relatively stable and the cost of energy, although down from the prior year's historic highs, continues to be at elevated levels

Grange shares have fallen 69% in the last year.

29Metals

The 29Metals share price plunged 19% today to a yearly low of 82.5 cents. 29Metals is exploring for copper and other metals including silver and zinc. The copper price is down 1% at the time of writing.

Copper fell, while zinc dropped sharply overnight amid signs of weak demand, ANZ research highlighted this morning.

On Tuesday, 29Metals provided an updated 2023 guidance. The company had previously withdrawn its 2023 guidance due to multiple factors including an extreme weather event.

The company is guiding it will mine between 514 to 584 kt of ore in 2023. This is predicted to include seven to nine kt of copper and 40 to 50 koz of silver.

In the first half of 2024, the company is guiding it will mine between 180 to 220 kt of ore including three to four kilotonnes of copper and eight to 12 koz of silver.

Looking ahead, 29 Metals advised in its strategic update, it is planning a phased restart of operations at Capricorn Copper and has a positive outlook for Golden Grove. The company had $163 million of cash as of 31 March.

29Metals shares have tumbled 70% over the past 52 weeks.

Vulcan Energy

Finally, Vulcan Energy shares slipped 1.25% today to a yearly low of $3.95 despite no news from the company. Vulcan is working on the transition to decarbonisation via its Zero Carbon Lithium project in Germany. It aims to provide lithium for electric vehicle (EV) batteries.

Today's fall could have been impacted by wider market sentiment. ASX 200 lithium share Pilbara Minerals Ltd (ASX: PLS) also slid 1.68% today, while Core Lithium Ltd (ASX: CXO) shares dropped 2.36%.

Vulcan updated the market on its Zero Carbon Lithium project last week. Crystallizer has been installed at the Vulcan Lithium Extraction Optimisation Plant (LEOP) in Landau.

Commenting on this process, the company said:

The crystallizer represents the final process step in the lithium extraction (concentration after purification) in our Optimisation Plant to produce the LiCl concentrate product from Vulcan's renewable-heated brine.

Further, Vulcan noted that once this LEOP plant is producing lithium chloride, it will "herald the birth of a new domestic lithium industry in Germany and Europe, produced sustainably with zero fossil fuels used in the production process".

Vulcan Energy shares have shed nearly 47% in the last year.

The post Cheap or nasty? 3 ASX mining stocks that just hit new 52-week lows appeared first on The Motley Fool Australia.

However, the price is 13.4% lower than this time last year, according to Trading Economics data.

In March 2022, the iron ore price reached its highest level for the year at about US$160 per tonne.

Movements in the iron ore price have a direct impact on ASX mining share prices.

So, let's see what CBA has to say about the commodity's value in 2023.

What's happening with the iron ore price in 2023?

The iron ore price rallied 10% in January after China reopened its economy. This prompted increased demand for steel as the manufacturing and construction sectors recommenced normal activity.

This was a continuation of a rally that began in November when China eased its COVID restrictions and then dumped its COVID-zero policy altogether in December.

The iron ore price rose from a low of about US$80 per tonne in November to a seven-month high of $130 per tonne on 30 January.

Chinese manufacturing is rebounding and the government is stimulating construction activity through liquidity injections and new credit lines for developers.

China's reopening has lifted many ASX mining shares, particularly the iron ore pure-play Fortescue Metals Group Limited (ASX: FMG). The Fortescue share price is up 8.3% in the year to date.

Fellow ASX iron ore shares are also up.

The BHP Group Ltd (ASX: BHP) share price is up 5.8% in the year to date. The Rio Tinto Limited (ASX: RIO) share price is up 6.2%. Junior iron ore explorer Grange Resources Limited (ASX: GRR) is up 28%.

The iron ore price has come off a bit in February, with the value now up 3.3% over the past 30 days.

What is CBA's prediction for the iron ore price?

According to reporting in The Australian, CBA analysts expect the iron ore price to fall to US$100 per tonne over the coming months. They reckon the recent rally is unsustainable.

CBA commodity strategist Vivek Dhar said he expects Chinese steel demand to continue to accelerate in 2023 but the risk of a property market downturn remains.

Dhar said:

It is still anticipated that steel demand from China's property construction sector will contract notably again in 2023 and the extent of contraction is expected to be steep enough to bring down China's total steel demand by up to 2 per cent in 2023.

Weaker Chinese steel demand should weigh on China's steel output and iron ore consumption.

Dhar also expects a modest increase in seaborne iron ore supply during 2023. This will impact the supply and demand equation and potentially reduce the iron ore price as well.

Government expects higher exports but lower earnings

As we've previously reported, Australia's three biggest miners — BHP, Rio Tinto and Fortescue — are ramping up production at the new mines they've built in recent years.

According to the Department of Industry, Science and Resources, Australian iron ore exports are forecast to increase by 2.5% in 2022–23 to 896 million tonnes, and by 2.7% to 920 million tonnes in 2023–24.

Despite this, the government expects lower earnings due to lower iron ore prices. Earnings are expected to fall from $133 billion in 2021–22 to $113 billion in 2022–23, and then to $95 billion in 2023–24.

In 2022, 82% of Australia's iron ore export earnings came from China.

The post Here's the iron ore price forecast for 2023: CBA appeared first on The Motley Fool Australia.

So is this too good to be true?

Grange Resources is an ASX 300 (ASX: XKO) iron ore company, specialising in the production of iron ore pellets. It owns the Savage Rover iron ore mine in Tasmania, as well as the Southdown Magnetite Project iron ore mine in Western Australia. In addition, Grange owns the Port Latta pellet plant in Tasmania.

Over the past 12 months, Grange has indeed paid out two dividends. The first was the March final dividend of 10 cents per share, fully franked. The second was the September interim dividend worth 2 cents per share, also fully franked.

That's a total of 12 cents per share in dividend income over the past 12 months. Given the Grange Resources share price is currently sitting at 84 cents per share, this company indeed possesses a trailing dividend yield of 14.29% right now.

But the key word there is 'trailing'. Just because a company has paid out some nice dividends in the past is no guarantee that investors will continue to enjoy those same dividends in the future.

If, over the next 12 months, Grange pays out a total of 12 cents per share in dividends then, yes, this company would have a forward yield of 14.29%, as well as a trailing one.

But that's not where we are at today. If, for instance, Grange decides to pay out 2 cents per share for its next final dividend, which would match its last dividend, this company will have a forward yield of 4.76%, not 14.29%.

That's a big difference.

Can Grange Resources really offer investors a 14.3% dividend yield today?

So how likely is this to happen? Well, that's the question. It's almost impossible to accurately predict any company's future. But we can look at what the company has said more recently.

Back in August, Grange warned investors during its half-year report that the average pellet price the company received during the six months to 30 June 2022 was US$174.96 per tonne. That is a steep drop from the US$260.54 it averaged over 2021.

But then in an update covering the three months to 30 September 2022, Grange revealed that its average received price over this period had fallen to US$95.17 per tonne, down from US$139.04 per tonne over the three months to 30 June.

Remember, less money coming through the company door rarely translates to higher dividends.

Grange SEO Honglin Zhao said this as well:

The past few months have been very challenging with demand for iron ore pellets products very weak, particularly from the Chinese market, largely due to high stock levels in the market.

As a consequence, some of our shipments were deferred into Q4 of this year. In addition, the current inflationary environment with elevated energy costs is resulting in increased cost pressures on the Company.

So things aren't looking good for the Grange Resources dividend going forward, it seems. Perhaps the markets agree. When the quarterly update was released on 27 October, the Grange Resources share price fell more than 16%.

We'll have to wait and see what the future of Grange Resources' dividends looks like. But there's a reason that this company is being priced with a 14.29% trailing dividend yield today.

The post With a 14% dividend yield, is this ASX 300 mining share a bargain or a trap? appeared first on The Motley Fool Australia.

The Grange Resources Limited (ASX: GRR) share price has fallen nearly 10% in the past month. It has also sunk around 60% since its highs of mid-June.

Today, the company's share price is rising 0.70% to 72 cents.

Let's take a look at the outlook for Grange Resources.

What could be ahead for this ASX iron ore share?

Grange Resources is an iron ore pellet producer based in Tasmania. Grange Resources produced 655,000 tonnes of concentrate in the September quarter, down from 664,000 tonnes in June.

Commenting on The Bull, Spotee Connect CEO Chris Batchelor noted the iron ore price has been falling lately amid less activity in China. Despite this, he recommends this ASX iron ore share. He said:

We believe the Grange share price fall has been excessive given the higher quality ore it produces. Therefore, we rate GRR a buy at these levels.

The company achieved an average realised price of US$95.17 a tonne in the September quarter, down from US$139 a tonne in June.

CEO Honglin Zhao said:

The past few months have been very challenging with demand for iron ore pellets products very weak, particularly from the Chinese market, largely due to high stock levels in the market.

As a consequence, some of our shipments were deferred into Q4 of this year.

Grange Resources share price snapshot

This ASX iron ore share has soared 49% in the past year, but it has dropped 5% year to date.

For perspective, the S&P/ASX 200 (ASX: XJO) has fallen nearly 7% year to date.

Grange Resources has a market capitalisation of about 824.6 million based on the current share price.

The post It's not as famous as BHP, but this other ASX iron ore share is going cheap right now: expert appeared first on The Motley Fool Australia.

If you think this outlook has some merit, then it's worth paying attention to ASX shares that professional investors reckon might have already reached the bottom.

Here are two such stocks that were mentioned this week:

'Well positioned' for recovery

As a construction materials provider, James Hardie Industries plc (ASX: JHX) shares have suffered from recent uncertainty about housing markets.

The stock has plunged more than 41% year to date.

But Fairmont Equities managing director Michael Gable reckons James Hardie has now "potentially bottomed".

"If the recent share price fall is already pricing in tough times, then we believe it's time to consider buying JHX," Gable told The Bull.

"This global building materials supplier is well positioned to benefit when slowing economies recover."

Gable pointed out that the James Hardie share price started the year at $56.80. With it closing Monday at $33.39, he reckons it's a bargain waiting to be taken.

He's not the only one thinking along those lines. 

According to CMC Markets, a remarkable 13 out of 14 analysts currently recommend James Hardie as a buy, with 11 of those labelling it a strong buy.

This stock has sold off too much

Grange Resources Limited (ASX: GRR) is not a household name among Australian investors, but Spotee Connect chief Chris Batchelor reckons it ought to be.

"The producer sells iron ore pellets from its Savage River mine in Tasmania."

He pointed out that the iron ore price has been declining in recent months due to worries about an economic slowdown in China.

The Grange stock price has hence dropped a disastrous 61% since 8 June, which Batchelor thinks is overdone.

"We believe the Grange share price fall has been excessive given the higher quality ore it produces," he said.

"Therefore, we rate Grange Resources a buy at these levels."

The post 'Potentially bottomed': 2 ASX shares experts reckon can't get any cheaper appeared first on The Motley Fool Australia.

Four ASX shares that have failed to follow the market higher today are listed below. Here's why they are dropping:

Grange Resources Limited (ASX: GRR)

The Grange Resources share price is down 7.5% to 78.7 cents. Part of this decline has been driven by the iron ore pellet company's shares trading ex-dividend this morning for its latest dividend. Eligible shareholders will receive Grange Resources' 2 cents per share fully franked dividend at the end of the month on 30 September.

Link Administration Holdings Ltd (ASX: LNK)

The Link share price has crashed 20% to $3.57. Investors have been selling this administration services company's shares amid doubts over its takeover. This follows news out of the UK which threatens to scupper the transaction. To gain its approval for the deal, the UK Financial Conduct Authority is asking Dye & Durham to put down A$519 million towards redress payments relating to the now-collapsed Woodford Equity Income Fund.

Ramsay Health Care Limited (ASX: RHC)

The Ramsay share price is down 10% to $62.98. This follows news that a consortium led by KKR has refused to increase its $88 per share offer after Ramsay rejected it. The private hospital operator described the offer as "meaningfully inferior." However, it has left the door open for KKR to post an improved bid. Though, investors don't appear confident that one is coming.

Whitehaven Coal Ltd (ASX: WHC)

The Whitehaven Coal share price is down 2.5% to $8.39. This appears to have been driven by news out of Europe. According to Reuters, energy companies in the EU, such as coal miners, could be required to make a solidarity contribution to help offset the effects of the continent's ongoing energy crisis.

The post Why Grange, Link, Ramsay, and Whitehaven Coal shares are dropping appeared first on The Motley Fool Australia.

The S&P/ASX 200 Index (ASX: XJO) is up 0.65% in early morning trade following upbeat sentiment on Wall Street.

For context, the Dow Jones rose 0.71% overnight, and is up 3% in the past week.

Let's take a look at why the iron ore pellet miner's shares are losing ground on Tuesday.

Why are Grange Resources shares in the dirt today?

Investors are offloading the Grange Resources share price as it trades ex-dividend today.

This means if you purchased the company's shares yesterday or before, you will be eligible for the latest dividend.

When a company's shares trade ex-dividend, the share price tends to fall in proportion to the dividend paid out. This can also vary on how the market is tracking for the day as well as investor sentiment.

Grange Resources is set to pay a fully-franked interim dividend of 2 cents per share on 30 September.

This marks a significant drop from the 10 cents per share declared by the board in the prior corresponding year.

The company reported double-digit losses across key financial metrics in its half-year results.

Management blamed the weak performance on soaring energy costs and volatility in iron ore prices.

While there was no mention of the final dividend, this will largely depend on Grange Resources keeping costs under control.

However, Goldman Sachs believes iron ore prices have further to fall, which could put pressure on the next dividend.

Grange Resources share price summary

After hitting a multi-year high of $1.79 on 8 June, the Grange Resources share price has tumbled more than 50%.

Nonetheless, the share is still up 8% year to date.

In comparison, the S&P/ASX 300 Metals and Mining Index (ASX: XMM) is down 2% over the same timeframe.

Grange Resources commands a market capitalisation of approximately $983.7 million and has a trailing dividend yield of 14.2%.

The post Why is the Grange Resources share price falling in a hole on Tuesday? appeared first on The Motley Fool Australia.

The company reported a 36% drop in half-year statutory profit to $132.2 million due to soaring energy costs and volatile iron ore prices.

Subsequently, the board decided to drastically cut its dividend by a whopping 80% when compared to the corresponding year.

Investors vented their frustration on the weakened performance, sending the Grange Resources share price 28% lower on the day.

While there has been a slight recovery over the last two trading days last week, the share is down almost 40% since 29 August.

At Friday's market close, the iron ore pellet miner's shares finished at 84.5 cents apiece.

Let's take a look at the details that you need to know about the upcoming dividend.

Time is almost out to dig in the Grange Resources dividend

The Grange Resources share price could be on the move today as the ASX is expected to open higher this morning.

In addition, the price of iron ore has remained elevated to about the US$100 level.

In the case you are looking to scoop up the company's upcoming dividend, today will be the last day to do so.

This is because the ex-dividend date is tomorrow, 13 September.

So, if you buy Grange Resources shares today and hold them until tomorrow morning, you'll receive a fully franked dividend of two cents per share.

The company is set to pay out $23.14 million in the form of dividends to eligible shareholders on 30 September.

Currently, Grange Resources isn't offering a dividend reinvestment plan (DRP) at this time.

Grange Resources share price snapshot

Despite the company's unfortunate half-year performance, the Grange Resources share price has risen 12% this year.

In comparison, the S&P/ASX 200 Resources (ASX: XJR) sector is up 2.7% over the same period.

Grange Resources commands a market capitalisation of approximately $977 million and has an attractive dividend yield of 14.2%.

The post Hoping to dig into the latest Grange Resources dividend? Here's how appeared first on The Motley Fool Australia.

This may surprise some investors as the S&P/ASX 200 Materials Index (ASX: XMJ), which tracks the mining sector, hasn't exactly had a stellar performance year to date. In fact, it's down 9.95%.

On an industry level, things aren't too hot either with the S&P/ASX 300 Metals and Mining Index (ASX: XMM) also down 7.72% over the same period.

So these companies are outliers from the aggregate performance of their peers. They were included due to a surge in their share prices over the last quarter which, in turn, boosted their market capitalisations high enough to overtake laggards in the index.

This was helped by the relatively poor performance of shares in other sectors, such as information technology and consumer discretionary. These have been two of the worst hit on a year-to-date basis. It's also helped companies from stronger sectors over the last quarter to take their positions in the index.

Let's find out which miners are new to the ASX 300.

Which mining companies were added to the index?

They are:

• 5E Advanced Materials Inc (ASX: 5EA) is a mineral exploration company. Market capitalisation: $706 million
• Arafura Resources Ltd (ASX: ARU) is a rare earth exploration company. Market capitalisation: $586 million
• Grange Resources Ltd (ASX: GRR) is an iron ore mining and pellet production business. Market capitalisation: $862 million
• Argosy Minerals Ltd (ASX: AGY) is a mineral exploration company. Market capitalisation: $553 million
• Mincor Resources NL (ASX: MCR) is a high-grade nickel producer. Market capitalisation: $1.02 billion
• Neometals Ltd (ASX: NMT) is a producer of sustainable battery materials. Market capitalisation: $723 million

The post These 6 ASX mining shares are now in the ASX 300 appeared first on The Motley Fool Australia.

At the time of writing, the mining share is fetching 76 cents apiece, a 2.3% gain on the day after shares had spiked to an early high of 78 cents.

Chief to today's rally appears to be a company update explaining that Grange has been added to the S&P/ASX 300 index (ASX: XKO).

Grange Resources index inclusion

The Standard & Poor's (S&P) Dow Jones Indices announced its quarterly rebalance of the S&P/ASX Indices last Friday.

Several additions and removals were made, with the $856 million company by market capitalisation seeing its shares bolted into the ASX 300.

This places it on the mantlepiece alongside 299 of the largest ASX-listed companies by market value.

Several other inclusion criteria would have been satisfied to register the Grange share price into the index, from factors such as volatility to trading volume.

With its inclusion, the company is likely to see its name on the register of many institutional investment funds that are restricted to investing in ASX 300 shares in their mandates.

What this means for the Grange share price looking ahead, we will find out in time.

However, many of these funds have constraints on the 'turnover' of shares within their portfolios, promoting a long-term view instead. That's something to think about.

Grange Resources share price snapshot

Despite the ratings agency's decision to include Grange into the benchmark, its share price hasn't exactly been performing well over the past few weeks.

After a period of sideways activity, investors turned sour on the share, with sellers pushing Grange from a high of $1.38 on 24 August to today's market price.

Adding to the downside was Grange's half-year results posted on 29 August, where it clipped a decline in both sales and earnings for the period.

The Grange share price is up almost 50% over the past 12 months and is just 0.6% into the green for the year to date.

The post Grange Resources share price lifts on ASX 300 inclusion appeared first on The Motley Fool Australia.

Four ASX shares that have failed to follow the market higher today are listed below. Here's why they are sinking:

Bravura Solutions Ltd (ASX: BVS)

The Bravura share price is down 9% to $1.46. Investors have been selling this financial technology company's shares after its full year results disappointed. Although Bravura's revenue rose 10% to $266.7 million, its net profit after tax was down 14% to $30 million. Management highlighted that its operations suffered "unprecedented macroeconomic challenges caused by the COVID-19 pandemic."

Bubs Australia Ltd (ASX: BUB)

The Bubs share price is down 4% to 58.2 cents. Investors appear disappointed that this infant formula company only managed to deliver an underlying EBITDA profit of $4.8 million from a 123% increase in revenue to $104.2 million in FY 2022. Bubs also recorded a loss before tax of $11.3 million for the year.

Grange Resources Limited (ASX: GRR)

The Grange share price has continued its slide and is down a further 11% to 87 cents. Investors have been selling this iron ore pellet miner's shares this week following the release of its half year results. Grange revealed a half year profit of $132.2 million, which is down almost 36% from $205.3 million a year earlier.

Sandfire Resources Ltd (ASX: SFR)

The Sandfire share price is down 4.5% to $4.51. This follows the release of the copper miner's full year results for FY 2022. This morning Sandfire reported record sales revenue of $922.7 million but scrapped its final dividend. Management advised that it will instead focus on repaying debt and pushing forward with its growth strategy.

The post Why Bravura, Bubs, Grange, and Sandfire shares are sinking appeared first on The Motley Fool Australia.

This spectacular drop follows the release of the iron ore pellet miner's FY22 half-year earnings yesterday.

As my Fool colleague James reported, Grange Resources shares dropped 28% to close at 98 cents yesterday. The Grange Resources share price is falling further today, down 9.74% to 88 cents currently.

Why is the Grange Resources share price falling off a cliff?

Grange Resources revealed a sharp drop in earnings over the six months ending 30 June 2022.

Here are the key metrics of the report:

• Revenue from ordinary activities of $341 million, down 24% on the prior corresponding period (pcp)
• Statutory profit after tax of $132.2 million, down 36% pcp
• Pellet production of 1.27 million tonnes, steady on pcp
• Pellet sales of 1.18 million tonnes, down 2.5% pcp
• Average pellet price of US$174.96 per tonne, down from US$260.54 per tonne pcp
• Unit cash operating costs of $113.66 per tonne, up from $100.23 per tonne pcp
• Cash, cash equivalents, and liquid investments of $369.5 million (as at 30 June) compared to $443.9 million (as at 31 December 2021)
• Net assets of $887.7 million (as at 30 June), up from $871.2 million (as at 31 December 2021)
• Final dividend of 2 cents per share with 100% franking declared, payable on 30 September.

What else happened in 1H FY22?

The question Grange Resources shareholders might be asking is how the company mined the same amount of product as 1H FY21 but achieved less revenue and profit in 1H FY22.

The miner said higher energy costs were to blame for the rise in its operating expenses. It also cited volatility in iron ore prices.

Grange Resources said an escalation of COVID-19 locally had "some impact" on activity due to increased staff absenteeism because of isolation requirements.

What did management say?

In its statement, the company said:

Despite continued volatility and uncertainty as to the future direction of iron ore prices, the market continues to recognise the quality value in use premium for high quality, low impurity iron ore products sold by Grange.

What's next?

Grange will continue to deliver into secured term offtake agreements for all products in 2022.

Grange Resources share price snapshot

The miner's shares are up 10% in the year to date. This compares with a 9% dip in the S&P/ASX All Ordinaries Index (ASX: XAO).

The post Why has the Grange Resources share price plunged 30% so far this week? appeared first on The Motley Fool Australia.

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

Aussie Broadband Ltd (ASX: ABB)

The Aussie Broadband share price is down 13% to $2.71. Investors have been selling this broadband provider's shares after the release of its full year results. That's despite the company reporting a 56% increase in revenue to a record $546.9 million and more than doubling its EBITDA to a record of $39.4 million. The market appears to have been expecting even stronger results.

Grange Resources Limited (ASX: GRR)

The Grange share price is down 28% to 98 cents. This morning the iron ore pellet miner released its half year results and revealed a sharp drop in sales and earnings. Grange reported a half year profit of $132.2 million, down almost 36% from $205.3 million a year earlier.

NextDC Ltd (ASX: NXT)

The NextDC share price is down over 6% to $10.26. Investors have been selling NextDC's shares after a selloff on Wall Street on Friday night offset the release of a strong full year result. This morning, the data centre operator reported an 18% increase in revenue to $291 million and 26% lift in underlying EBITDA to $169 million. The latter was ahead of its guidance range of $163 million to $167 million.

Polynovo Ltd (ASX: PNV)

The Polynovo share price has continued its slide and is down a further 18% to $1.34. Investors have been selling down this medical device company's shares after its full year results disappointed last week. The market selloff today certainly hasn't helped matters, particularly given the lofty multiples its shares trade on.

The post Why Aussie Broadband, Grange, NextDC, and PolyNovo shares are being hammered appeared first on The Motley Fool Australia.

After falling 2% on open, the iron ore producer's stock plunged to an intraday low of $1.14, a 13% drop. At the time of writing, its shares are trading at $1.18 each, 10.27% lower.

Grange Resources share price plunges on quarterly results

Here are the key takeaways from the company's June quarter results:

• Iron ore concentrate production rose to 664 kilotons ­– a 4% quarter-on-quarter improvement
• Iron ore pellet sales increased to 705 kilotons – a 47% increase on that of the March quarter
• The average received price for the quarter dropped to $193.44 per tonne
• Operating costs increased to $122.72 per tonne

The iron ore producer's production costs rose 15% in the June quarter, driven by higher energy costs. Meanwhile, its realised sales price dropped 37% on that of the March quarter, alongside iron ore prices.

The company's iron ore pallet sales jumped considerably quarter-on-quarter due to planned maintenance activity in the prior period.

It ended the June quarter with cash and liquid investments of $369.5 million and trade receivables of $8.5 million.

What else happened in the June quarter?

The Grange Resources share price gained 13.5% over the three months ended June despite the only news from the company – its results for the March quarter – driving it 5% lower.

It also continued working towards the development of its north pit underground mine and expects the rebuild of its furnace line 4 to begin commissioning in the current quarter.

What did management say?

Grange Resources CEO Honglin Zhao commented on the results driving the company's share price today. He said higher energy prices and the deflating iron ore price made for a "challenging" June quarter, adding:

Despite these headwinds, our team continues to focus on cost discipline, safe, and effective production as we see through this difficult period.

What's next?

The company is working towards a definitive prefeasibility study for its 70%-owned Southdown Magnetite Project. It's expected to be completed later this year.

It's also developing an environmental, social, and governance (ESG) framework. It expects to release its first full disclosure statement in the current quarter.

Grange Resources share price snapshot

Today's dip hasn't been enough to plunge the Grange Resources share price into the long-term red.

The stock is still 50% higher than it was at the start of 2022 and 38% higher than it was this time last year.

For comparison, the All Ordinaries Index (ASX: XAO) has slipped 11% this year and 8% over the last 12 months.

The post Grange Resources share price sinks 10% following 'challenging' quarter appeared first on The Motley Fool Australia.

Leading the upwards charge was the S&P/ASX 200 Information Technology Index (ASX: XIJ). The tech sector lifted more than 2% on Monday following Friday's strong session on Wall Street.

The tech-heavy NASDAQ Composite rose 1.79% on Friday overseas. The S&P 500 also lifted 1.92% while the Dow Jones Industrial Average gained 2.15%.

Financial shares were also among today's winners. They were bolstered by news Suncorp Group Ltd (ASX: SUN)'s Suncorp Bank is set to be snapped up by Australia New Zealand Banking Group Ltd (ASX: ANZ) in a $4.9 billion takeover deal.

Meanwhile, the S&P/ASX 200 Health Care Index (ASX: XHJ) was the market's worst performing sector, slipping around 0.7%.

At the end of today's trade, eight of the ASX 200's 11 sectors were trading in the green.

But which shares outperformed all others on Monday? Keep reading to find out.

Top 10 ASX shares countdown

The best performing share among ASX's 200 biggest companies by market capitalisation on Monday was Genesis Energy Ltd (ASX: GNE).

The Genesis Energy share price soared around 10% today. Find out more about what the company has been up to here.

Lithium shares also outperformed today. Both Core Lithium Ltd (ASX: CXO) and Liontown Resources Limited (ASX: LTR) were among today's ten best performers.

Today's top 10 biggest gains were made by these ASX shares:

Data as at 3:59pm AEST.

Our top 10 ASX shares today countdown is a recurring end-of-day summary to ensure you know which companies were making big moves on the day. Check in at Fool.com.au after the market has closed during weekdays to see which stocks make the countdown.

The post Here are the top 10 ASX shares today appeared first on The Motley Fool Australia.

The two leading sectors brushed off Wall Street's poor start to the week and surged higher on the back of increasing commodity prices. Global oil prices rose around 1.8% overnight while iron ore futures lifted 0.9%. Most base metal prices also picked up before the market opened today.

The S&P/ASX 200 Energy Index (ASX: XEJ) led the market today, gaining 3.5%. Meanwhile, the S&P/ASX 200 Utilities Index (ASX: XUJ) lifted 3%.

Consumer discretionary shares were the hardest hit on Tuesday despite consumer confidence rising week-on-week, according to findings by Australia and New Zealand Banking Group Ltd (ASX: ANZ) and Roy Morgan. The S&P/ASX 200 Consumer Discretionary Index (ASX: XDJ) slumped 1.6% today.

All things considered, some of the shares that topped the market today might come as a surprise. Here are the ten stocks that came out on top on Tuesday.

Top 10 ASX shares countdown today

Of the top ten ASX-listed companies by market capitalisation, those producing with one particular commodity outperformed. And that commodity is… Coal! Thermal coal leapt 1.4% overnight to trade at US$392.45 a tonne, according to CommSec.

The gain likely helped New Hope Corporation Limited (ASX: NHC)'s shares to record a 7.2% lift. Find out more about New Hope here.

That performance was shadowed by Beach Energy Ltd (ASX: BPT)'s 6.6% gain. Take a look at what's going on with Beach Energy lately here.

Today's top ten biggest gains were offered by these ASX shares:

Data as at 3:55pm AEST

Our top 10 ASX shares today countdown is a recurring end-of-day summary to ensure you know which companies were making big moves on the day. Check in at Fool.com.au after the market has closed during weekdays to see which stocks make the countdown.

The post Here are the top 10 ASX shares today appeared first on The Motley Fool Australia.

In fact, these three have gained more than 130% in 2022 so far. Let's take a look at what's been driving them higher.

3 ASX All Ordinaries shares boasting massive 2022 gains

Yancoal Australia Ltd (ASX: YAL)

All Ordinaries coal producer Yancoal has seen its share price lift a whopping 134.6% so far this year. As of Wednesday's close, it was trading at $6.10.

Surging energy prices following Russia's invasion of Ukraine have likely been behind much of its gains. Though, recent talk of a potential takeover offer from Yankuang Energy might have also spurred interest.

Yankuang Energy is a Chinese state-owned entity and Yancoal's controlling shareholder. Yesterday, the market heard its response to news the ASX-listed company wouldn't support its takeover bid.

Yankuang said the bid – which is still hypothetical at this stage – would provide "a reasonable opportunity for those Yancoal shareholders who wish to exit but are not able to do so at current market prices".

Stanmore Resources Ltd (ASX: SMR)

The share price of Yancoal's fellow All Ordinaries coal producer Stanmore Resources has also taken off this year. It's currently trading at $2.75 – 190.1% higher than it was at the start of 2022.

The company has also likely had tailwinds due to the price of coal in 2022.

Additionally, it completed its acquisition of BHP Group Ltd (ASX: BHP)'s 80% stake in BHP Mitsui Coal last month.

Grange Resources Limited (ASX: GRR)

Finally, the Grange Resources share price has lifted a whopping 133.8% this year so far. It closed yesterday's session at $1.77.

The All Ordinaries share mines iron ore and produces iron ore pellets in Tasmania. It also owns a 70% stake in a magnetite project in Western Australia.

The company has benefited from strong iron ore prices this year, allowing it to declare a 10-cent per share fully franked final dividend in April. That's its highest routine dividend ever and equal to a 10-cent special dividend it paid out late last year.

The post 3 ASX All Ordinaries shares up by more than 130% so far in 2022 appeared first on The Motley Fool Australia.