The company's share price has rocketed from $0.14 per share at the start of January to $0.22 apiece at the time of writing.

This equates to a 57% surge in just over seven months.

Not too shabby at all!

For context, the All Ordinaries Index (ASX: XAO) is up by about 7.3% during the same period.

But is there any fuel left in the tank for Jupiter's share price?

Analysts at renowned investment house Macquarie Group Ltd (ASX: MQG) have weighed in with their views on this little-known ASX mining stock.

Established manganese miner

Manganese is best known for its role in steel production, where it's used in ferroalloys to enhance hardness and strength.

However, it is also gaining importance in the lithium-ion battery supply chain, especially for electric vehicles (EVs) and energy storage.

Jupiter holds a 49.9% stake in the Tshipi manganese mine in South Africa, positioning the group as the world's largest publicly listed pure-play manganese miner.

Tshipi has been in production since 2012 and still remains one of the longest-life manganese mines globally.

And late last week, Jupiter unveiled its activities report for the fourth quarter of FY25.

Let's find out what Macquarie analysts thought of the news.

What caught Macquarie's eye?

The broker noted that mine production during the quarter came in 5% below its expectations.

However, this was offset by stronger-than-expected sales volumes, which beat Macquarie's forecast by 31%.

This translated into a strong quarterly performance with operating earnings (EBITDA) of $40.9 million, clocking in well ahead of Macquarie's $24 million estimate.

Net profit after tax (NPAT) also surprised to the upside by reaching $25.9 million – more than double what the broker had forecast.

That said, Macquarie took a cautious tone regarding the manganese market.

It pointed to a soft price environment for the metal with realised manganese prices coming in 4% lower than in the previous three-month period.

So what's the upside?

Macquarie sees limited upside for Jupiter's share price despite placing an outperform rating on the company.

Its 12-month price target of $0.23 per share represents a modest 4.5% premium to the miner's trading price of $0.22, at the time of writing.

However, Jupiter's full-year results in late August could be a welcome event for shareholders, with the ASX miner set to reveal its FY25 dividend.

Macquarie is projecting a final payout of 7.5 cents per share, which would equate to a healthy 7.2% dividend yield.

The post Up 57% this year! Does Macquarie see more upside for this surging ASX mining stock? 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 falling:

Appen Ltd (ASX: APX)

The Appen share price is down 13% to $1.06. This follows the release of the artificial intelligence data services company's half year results. Appen reported an 18.4% decline in revenue to US$113.4 million and an underlying net loss after tax of $11.8 million. Though, it is worth noting that the latter is a $22.4 million improvement from the prior corresponding period. Looking ahead, management revealed that it "continues to target reaching cash EBITDA positive on a run-rate basis in early H2 2024."

Dicker Data Ltd (ASX: DDR)

The Dicker Data share price is down 5% to $9.59. This has been driven by the release of weaker than expected half year results from the computer hardware and software distributor. Dicker Data reported a 0.4% decline in gross revenue to $1,590.1 million and a 5.7% decline in net profit after tax to $35.4 million. The latter compares unfavourably to the consensus estimate of $38 million. Pleasingly, management is optimistic that the second half will be stronger. Particularly after it finished the first half very positively.

Jupiter Mines Ltd (ASX: JMS)

The Jupiter Mines share price is down 14% to 18 cents. This morning, this manganese miner released its preliminary full year results and revealed a net profit after tax of $38.9 million. Management also spoke negatively about the manganese market. It said: "Following significant volatility in the manganese market since April 2024, conditions have turned bearish in the last month. This has, primarily, been the result of downstream demand factors. […] Weakening demand factors are currently outweighing this supply outage, leading to manganese prices following a lower trend over the last month. An increase in manganese supply from South Africa and Ghana, since June 2024, has also contributed to the weakening sentiment."

Ramsay Health Care Ltd (ASX: RHC)

The Ramsay Health Care share price is down 8% to $41.08. This follows the release of the private hospital operator's full year results. Although Ramsay achieved decent top line growth, it still posted a decline in profits. Total revenue was up 9.4% to $16,772.1 million but profit after tax from continuing operations was down 2.7% to $270.6 million. Management said: "Margin recovery has been slowed by the significant cost inflation impacting the private hospital industry over the last few years. Wage inflation exceeding expectations remains a critical risk."

The post Why Appen, Dicker Data, Jupiter Mines, and Ramsay shares are dropping today appeared first on The Motley Fool Australia.

So if you are in that mood, here are two ASX shares considered suitable for those who are willing to tolerate some risk:

Top ASX shares for a business with a plan to become a world leader

Manganese miner Jupiter Mines Ltd (ASX: JMS) has seen its share price plunge more than 25% since May.

However, Sequoia Wealth Management senior advisor Peter Day likes the direction the company is heading.

"The company previously released a strategy update, outlining a five-year plan to become the leading manganese producer in the world," Day told The Bull.

"The company has a long life, open pit manganese mine with an integrated ore processing plant in South Africa."

Day, while admitting the stock is not for the faint-hearted, noted the business is ramping up.

"Mining volumes in the first half of fiscal year 2024 were up compared to the prior corresponding period."

Day has good support among his peers. Broking platform CMC Invest shows all three analysts covering Jupiter Mines rating it as a strong buy.

How delayed is the gratification for these shares?

Casino operator Star Entertainment Group Ltd (ASX: SGR) has been crushed under regulatory scrutiny over the past couple of years.

Painfully the share price has lost more than 86% since October 2021.

Just when investors thought they might get some relief, a bombshell landed last month.

"The New South Wales Independent Casino Commission is holding another inquiry to investigate whether Star Entertainment is suitable to hold a Sydney casino licence," said Day.

"A final report is due on May 31."

Eventually, the business is bound to recover from its failings, but the second probe makes this an even more speculative buy than it was already.

"The company generated net revenue of $865.7 million in the first half of fiscal year 2024, down 14.6% on the prior corresponding period."

Other experts are more divided on this one than Jupiter Mines. Five out of 10 analysts currently surveyed on CMC Invest consider Star Entertainment a buy at the moment.

The post My top high-risk, high-reward ASX shares to buy in March 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 falling:

Core Lithium Ltd (ASX: CXO)

The Core Lithium share price is down 9% to 20 cents. This follows the release of the lithium miner's half-year results. Due to lithium price weakness and the suspension of its spodumene production, Core Lithium reported revenue of $134.8 million and a loss after tax of $167.6 million. The company also revealed that its CEO, Gareth Manderson, is stepping down.

Jupiter Mines Ltd (ASX: JMS)

The Jupiter Mines share price is down almost 3% to 17.5 cents. This follows the release of the scoping study evaluating the opportunity to supply high purity manganese sulphate monohydrate to the electric vehicle battery market. Management advised that the study has "yielded promising results" but the market doesn't appear convinced.

Newmont Corporation (ASX: NEM)

The Newmont share price is down 3% to $51.33. Investors have been selling Newmont and other gold miners today after the gold price tumbled overnight. This was driven by a hotter than expected US inflation reading which has reduced the chances of a rate cut in the near future. The S&P/ASX All Ordinaries Gold index is down 2% this afternoon.

Perpetual Ltd (ASX: PPT)

The Perpetual share price is down over 2% to $24.14. This has been driven by the fund manager's shares going ex-dividend this morning for its upcoming interim dividend. Eligible shareholders can look forward to receiving this 65 cents per share partially franked dividend next month on 8 April.

The post Why Core Lithium, Jupiter Mines, Newmont, and Perpetual shares are dropping today appeared first on The Motley Fool Australia.

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

BHP Group Ltd (ASX: BHP)

The BHP share price is down 2.5% to $44.41. This follows a tough session for mining shares after a pullback in commodity prices overnight. Weak global economic data appears to have caused concerns over the outlook for demand and put pressure on prices.

Jupiter Mines Ltd (ASX: JMS)

The Jupiter Mines share price 2.5% to 18.5 cents. This follows the release of an update on its EV Battery Market entry strategy. While progress is being made, it is still some way off. It said: "While all dates will be determined by the business case, Jupiter may target any potential HPMSM [High Purity Manganese Sulphate Monohydrate] production plant to be in operation by around 2027/2028."

Karoon Energy Ltd (ASX: KAR)

The Karoon Energy share price is down 3% to $2.33. This seems to have been driven by a pullback in oil prices overnight caused by the aforementioned weak global economic data. In addition, a sizeable build in U.S. crude supplies weighed on sentiment. Together, this led to oil prices dropping to their lowest levels since July.

Newmont Corporation (ASX: NEM)

The Newmont share price is down 4% to $56.26. Investors have been selling Newmont and other ASX gold shares today after the price of the precious metal fell. This was driven by lessening demand for safe-haven assets. The S&P/ASX All Ordinaries Gold Index (ASX: XGD) is down 2.4% this afternoon.

The post Why BHP, Jupiter, Karoon, and Newmont shares are falling appeared first on The Motley Fool Australia.

Though, I still sometimes find opportunities in the industry and size my investment (mindful of my minimal knowledge) accordingly. This approach has served well, leading to rewarding holdings in Albemarle Corporation (NYSE: ALB) and Lynas Rare Earths Ltd (ASX: LYC) in the last few years.

This week, another mining company has sprung onto my list, catching my eye in a similar fashion to those that have come before it.

Which ASX mining share am I watching?

I recently stumbled upon a small manganese miner during my routine sifting through ASX companies.

For the uninitiated, manganese is a metal predominantly used as an alloy in steel to improve its material properties. More recently, the metal has found demand in its application within electric battery cathodes.

Standing at a market capitalisation of $421 million, Jupiter Mines Ltd (ASX: JMS) is not an ASX mining share that is discussed all too often. Although, the reality is the number of mentions in the media holds little correlation to the likelihood of wonderful returns.

Instead, there are a few fundamental reasons why I think Jupiter Mines could be a stealthy opportunity.

What makes it appealing?

There are two facets to consider when assessing Jupiter Mines: industry-wide (top-down) and company-specific (bottom-up). Let's first take a look at the top-down considerations, before diving into the nitty-gritty of this manganese miner.

Top-down

The overarching story here, in my view, is the market may not be factoring in the potential for a prolonged manganese shortfall.

Currently, more than 90% of manganese demand is driven by steelmaking, which is expected to weaken in conjunction with slowing economies. However, continued appetite for electric vehicles could actually end up outstripping supply — supporting, if not increasing, manganese prices.

Earlier this year, some industry participants warned that high-purity manganese supply could fall into deficit by 2024.

At present, manganese is used in small quantities to stabilise the cathode in lithium-ion batteries. But, what happens if Tesla Inc (NASDAQ: TSLA) and others decide to use more manganese to reduce the amount of cobalt?

Even without this, the incredible growth forecast for EVs and battery storage could drive much higher prices for the lesser-known metal.

Yet, manganese prices have mostly traded sideways, as shown above, while the likes of lithium and rare earths have boomed. This leads me to believe that the supply and demand imbalance has not materialised to date, likely failing to incentivise new projects.

Bottom-up

Now comes the hard, but important, question: why pick Jupiter Mines of all the ASX manganese mining shares?

Jupiter Mines owns a 49.9% interest in the Tshipi open-pit manganese mine in South Africa — which is located adjacent to South32 Ltd's (ASX: S32) Mamatwan mine. Both are placed in the Kalahari Manganese Fields, believed to be the largest manganese-bearing formation in the world.

Tshipi, itself, has a strong track record of delivering on its goal of producing 3 to 3.6 million tonnes per annum (mtpa) of manganese ore. Additionally, the mine has been able to meet this target while maintaining a low cost of production.

Though, what I find most appealing is Jupiter Mines' price-to-earnings (P/E) ratio of 5.4 times. Meanwhile, the Tshipi mine is estimated to still have more than 100 years of mineable resource remaining.

Hypothetically — assuming earnings remain flat, and Jupiter Mines is able to maintain a payout ratio of around 60% — in approximately nine years I will have made back in dividends what I originally invested. The following decades — assuming resource estimates are correct — would be pure profits on my investment.

Next move

Don't get me wrong, there are still plenty of risks. For instance, Jupiter Mines is completely reliant on the price of manganese. Whereas other ASX mining shares, such as South32, are diversified across several metals. Similarly, the company has all its eggs in one basket geographically.

Moreover, there are other, more established mining companies trading on similar earnings at the moment. For example, South32 is also trading at 5.3 times last year's earnings. Likewise, iron ore behemoth Fortescue Metals Group Ltd (ASX: FMG) is perched at 7.4 times earnings.

Nevertheless, I personally think Jupiter Mines is an interesting proposition given the combination of manganese demand, a low earnings multiple, and an extremely large resource. At the least, I think it could find its way onto South32's acquisition shortlist at a substantial premium to today's price.

In the meantime, I will be running the ruler over this ASX mining share again to ensure I haven't overlooked any dealbreakers.

The post 100 years of resource: Why this little-known ASX mining share has my attention appeared first on The Motley Fool Australia.

So here are 5 ASX dividend shares that are scheduled to trade ex-dividend this week.

5 ASX dividend shares going ex-dividend this week

Clover Corporation Limited (ASX: CLV)

Nutrition company Clover is going ex-dividend this week. Today, as it turns out. Clover is set to pay out its final half a cent-per-share dividend, fully franked, on 16 November. At the last Clover Corp share price of $1.58, this company has a dividend yield of 0.63%.

New Hope Corporation Limited (ASX: NHC)

Coal miner New Hope is also scheduled to trade ex-div today. New Hope will be sending a final dividend payment of 7 cents per share, also fully franked, on 9 November. At New Hope's last share price of $2.35, this miner has a dividend yield of 4.68%.

Jupiter Mines Ltd (ASX: JMS)

Iron ore miner Jupiter is next up, also trading ex-dividend this Monday. Jupiter Mines will be lining investors' pockets with its interim dividend of half a cent per share, unfranked, on 9 November. At this company's last share price of 24 cents, Jupiter Mines has a meaty dividend yield of 10%.

Bank of Queensland Limited (ASX: BOQ)

This ASX bank is next up on this week's ex-dividend list. This bank might not be a member of the famous big four, but will still treat investors to a fully-franked final dividend of 22 cents per share on 18 November after it goes ex-div on Thursday. At Bank of Queensland's latest pricing, the bank has a dividend yield of 4.29%.

Autosports Group Ltd (ASX: ASG)

Our final ASX share on this list going ex-dividend this week is the car dealership company Autosports. Autosports is going ex-dividend on Friday this week. It will be doling out its final dividend on 15 November, which will be worth 7 cents per share, fully franked. At Autosports' last share price, this company has a dividend yield of 3.8%.

The post Here are 5 ASX shares trading ex-dividend this week appeared first on The Motley Fool Australia.

Unfortunately, not all shares are in favour with them right now. Three ASX shares that have just been given sell ratings by brokers are listed below. Here's why these brokers are bearish on them:

Fortescue Metals Group Limited (ASX: FMG)

According to a note out of Morgan Stanley, its analysts have retained their underweight rating and cut the price target on this iron ore producer's shares to $12.50. The broker remains very bearish on miners with exposure to low grade iron ore. This is due to the prospect of a widening discount as steel makers focus on higher grade ore. The Fortescue share price is trading at $15.04 on Thursday afternoon.

IGO Ltd (ASX: IGO)

Another note out of Morgan Stanley reveals that its analysts have retained their underweight rating and trimmed the price target on this mining company's shares to $8.25. The broker has increased its earnings to reflect upgrades to lithium and nickel price forecasts. However, due to a change in its valuation model, this has ended up with a slight reduction in its price target. The broker continues to believe IGO's shares are fully valued. The IGO share price is changing hands for $8.81 this afternoon.

Jupiter Mines Ltd (ASX: JMS)

Analysts at Macquarie have retained their underperform rating and cut their price target on this manganese mining company's shares to 19 cents. This follows the release of its second quarter update earlier this week. Macquarie notes that Jupiter has been struggling with continued equipment breakdowns, leading to loss of mining days. In addition, the company is due to receive a softer than expected dividend from its ownership of the Tshipi mine, which will impact Jupiter's own dividend. The Jupiter Mines share price is fetching 22.5 cents today.

The post Top brokers name 3 ASX shares to sell today appeared first on The Motley Fool Australia.

Unfortunately, not all shares are in favour with them right now. Three ASX shares that have just been given sell ratings by brokers are listed below. Here's why these brokers are bearish on them:

Jupiter Mines Ltd (ASX: JMS)

According to a note out of Macquarie, its analysts have downgraded this manganese mining company's shares to an underperform rating and cut the price target on them to 22 cents. The broker made the move in response to weak prices of lower grade manganese products and higher shipping costs. The Jupiter Mines share price is currently fetching 22 cents on Thursday afternoon.

Lendlease Group (ASX: LLC)

A note out of Morgan Stanley reveals that its analysts have retained their underweight rating and $11.40 price target on this property company's shares. The broker believes Lendlease should sell its communities business rather than pursue an alternative capital structure. It notes that this segment has not performed well in recent years, when compared to rivals. In addition, the broker has recently spoken about concerns over the sustainability of Lendlease's production targets. The Lendlease share price is now trading below this price target at $11.22 but Morgan Stanley isn't in a rush to change its rating.

Xero Limited (ASX: XRO)

Another note out of Macquarie reveals that its analysts have retained their underperform rating and $130.00 price target on this cloud accounting company's shares. Macquarie notes that rival Intuit (Quickbooks) has acquired email marketing company Mailchimp for US$12 billion. The broker has concerns that Intuit may remove Mailchimp's integration with Xero. If this happens, it suspects that some subscribers may jump ship. In addition, it feels that Intuit's stronger offering could help it with its global expansion and dampen Xero's growth. The Xero share price is currently fetching $150.79.

The post Top brokers name 3 ASX shares to sell today appeared first on The Motley Fool Australia.

The diversified miner jumped 3.3% to $2.84 in morning trade when the S&P/ASX 200 Index (Index:^AXJO) gained 0.4%.

South32 share price leading the pack

While ASX mining shares are leading the charge higher, few of the majors can keep up with the South32 share price.

The BHP Group Ltd (ASX: BHP) share price, Rio Tinto Limited (ASX: RIO) share price and Fortescue Metals Group Limited (ASX: FMG) share price increased by less than 2% each.

Asset sale and broker upgrade

South32 announced today that the transfer of its shareholding in South32 SA Coal Holdings (South Africa Energy Coal) to Seriti Resources Holdings Proprietary Limited is expected to be completed by the end of this month.

The news will please shareholders concerned about their exposure to climate change. But that is probably not the main reason for the South32 share price outperformance.

An upgrade by Macquarie Group Ltd (ASX: MQG) is a more likely driver for the shares. The broker lifted its recommendation on South32 to "outperform" from "neutral".

Why the South32 share price was upgraded to "buy"

Macquarie's decision came after it revised up its price forecasts for a range of commodities that South32 produces. This included manganese, silver and aluminium.

As a result, the South32 share price is trading on a free cash flow yield that's close to 10%.

"The earnings upgrades for S32 are driven by a combination of the more bullish outlook for silver and aluminium, and near-term increases in our manganese and zinc-price expectations," said Macquarie.

"Our FY21 and FY22 earnings estimates rise 51% and 49%, respectively. S32's medium-term earnings also see solid upgrades of 12% for FY23, 11% for FY24 and 9% for FY25."

Other ASX mining shares on the upgrade path

The South32 share price jumped by 52% over the past year. That's roughly on par with the BHP share price, while the Fortescue share price doubled and Rio Tinto's up 26%.

Macquarie's 12-month price target on South32 is $3.10 a share.

But South32 isn't the only miner to be upgraded by Macquarie on the back of the broker's commodities price upgrades.

The Jupiter Mines Ltd (ASX: JMS) share price was boosted to "outperform", while the Alumina Limited (ASX: AWC) share price was lifted to "neutral".

The post Why the South32 (ASX:S32) share price is outperforming today appeared first on The Motley Fool Australia.

Let's take a look at what the mining company announced today.

More delays

Jupiter Mines' spinoff company is causing waves today, as its initial public offering (IPO) has been delayed again. The original date for Juno's IPO was to be March 17 2021, but it has been pushed back to the end of May.

The delays announced today follow the demerger's halt last week, as one of its major shareholders didn't want to meet the regulatory requirements of the Foreign Investment Review Board (FIRB). Thus, Juno's IPO was unable to go ahead.

The delay last week was caused by Stitching Pensioefonds ABP (ABP), holder of 15% of Jupiter's shares.

Jupiter reported today that a general meeting of its shareholders would be held by the end of April, where the capital reduction and demerger are expected to be re-approved.

Jupiter intends to remove the regulatory requirements of the FIRB as a condition of the transaction. Allowing it to make the changes needed to create the spinoff company.

Jupiter's CEO Priyank Thapliyal had strong words to say about the IPO's delay last week.

The IPO and the potential uplift that would have occurred with the construction of Mount Mason in the near term in this robust iron ore price market was the optimal structure to release substantial value for Jupiter shareholders. Needless to say, this has been usurped for all the shareholders by the decision of one shareholder, ABP.

About Juno

A spinoff company from Jupiter Mines, Juno takes control and ownership of Jupiter's Central Yilgarn Iron Ore assets.

The demerger and IPO of Juno were voted on by Jupiter shareholders in January 2021, with a clear majority voting for the spinoff.

Jupiter intends to provide 200 million shares in Juno, with 80 million available for public offer. The sale of shares will raise the $20 million needed to fast-track the Mount Mason Hematite Project's development.

Jupiter mines' share price snapshot 

Over the past 12 months, Jupiter Mines' share price has risen by more than 45%. 

Based on the current Jupiter Mines share price, the company has a market capitalisation of around $646 million, with approximately 1.9 billion shares outstanding.

The post Why the Jupiter Mines (ASX:JMS) share price is down again today 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 dropping:

Afterpay Ltd (ASX: APT)

The Afterpay share price is down 4% to $109.00. Investors have been selling Afterpay and other tech shares on Monday after bond yields widened on Friday night. The US 10-year treasury bond hit a one-year high of 1.625%, leading to tech stocks on the Nasdaq index tumbling lower. The S&P/ASX All Technology Index (ASX: XTX) is down 1.25% at the time of writing.

Fortescue Metals Group Limited (ASX: FMG)

The Fortescue share price has fallen 4% to $20.43. Investors have been selling the iron ore producer's shares on Monday following another pullback in the price of the steel-making ingredient on Friday night. According to CommSec, the benchmark iron ore price fell by US$5.35 a tonne or 3.1% to US$165.70 a tonne.

GWA Group Ltd (ASX: GWA)

The GWA share price has dropped 6% to $2.83. This follows news that the buildings products company's shares will be kicked out of the ASX 200 index at the next rebalance. GWA is one of six companies that will be removed from the illustrious index on 22 March.

Jupiter Mines Ltd (ASX: JMS)

The Jupiter Mines share price has tumbled 7% to 30.7 cents. This morning the manganese mining company announced that the demerger and initial public offering of its Juno Minerals business will still go ahead, but on a delayed timetable. As a result, a general meeting of Jupiter shareholders will be held by the end of April to re-approve the capital reduction and demerger. The process is now expected to complete in May.

The post Why Afterpay, Fortescue, GWA, & Jupiter Mines are dropping today appeared first on The Motley Fool Australia.

At the time of writing, the mining companies share price is at 34 cents – down from yesterday's close of 35 cents a share.

This drop is a distinct contrast to the 1.7% rise in the S&P/ASX All Ordinaries Index.

How today's news is affecting Jupiter Mines share price?

In an announcement to the ASX Jupiter Mines advised it was delaying the spinoff of proposed company Juno.

Juno, which was to be an iron ore focused company, was overwhelmingly approved by shareholders at its AGM. The proposed company would have taken ownership of Jupiter's Central Yilgarn Iron Projects. Juno was slated to commence trading on 17 March 2021.

Stitching Pensioefonds ABP (ABP), which has a near 15% stake, is the company's second-largest shareholder. The company confirmed they did not want to meet the regulatory requirements of the Foreign Investment Review Board (FIRB). Meeting FIRB requirements is a condition of the Juno initial public offering (IPO) and Jupiter capital reduction.

Jupiter's CEO, Priyank Thapliyal, commented:

The IPO and the potential uplift that would have occurred with the construction of Mount Mason in the near term in this robust iron ore price market was the optimal structure to release substantial value for Jupiter shareholders. Needless to say, this has been usurped for all the shareholders by the decision of one shareholder, ABP.

What are the FIRB requirements?

According to the FIRB, a foreign investor must notify the federal Treasurer and seek approval before acquiring any interest in an Australian mine or mining entity above a certain monetary threshold.

There are fees and waiting periods with the approval process.

Jupiter Mines share price snapshot

Despite today's plunge, Jupiter Mines share price is trending upwards. Only 2 weeks ago the company hit its 52-week high of 38 cents a share. In fact, this time last year, shares in the miner were selling at only 23 cents. At today's price, that's a 39.6% uplift. Yet, the Jupiter Mines share price is lower than its 2018 IPO price of 42 cents a share.

Jupiter Mines has a market capitalisation of $670 million.

The post Why the Jupiter Mines (ASX:JMS) share price tanked over 7% today appeared first on The Motley Fool Australia.

What Jupiter does

Jupiter is an Australian mining company which has a 49.9% interest in Tshipi é Ntle, an independently operated, manganese mining company operating in the Tshipi Borwa Manganese Mine in South Africa.

Manganese is widely used as an alloy to reduce the brittleness of steel and improve its strength. Other uses of this mineral include in battery cathodes, as micronutrients in animal feed and in water treatments, textiles and fertilisers.

Jupiter also has two, 100% owned iron ore projects in the Yilgarn region of Western Australia.

Quarterly report

The Jupiter share price is edging higher today as the company released a largely positive quarterly report.

Despite overall mining volumes being behind plan due to continued delays resulting from COVID-19, all other operations continued as usual and, as such, production for the quarter once again exceeded the adjusted plan for both high and low grade ore.

Furthermore, logistics were ahead of plan for the quarter, with Tshipi's performance continuing to improve its rail volumes. However, road and shipping volumes were both constrained, due to 148,000 tonnes of August exports rolling over into September. This also resulted in net cash from operations being significantly reduced.

As a result, the company saw net cash from operating activities slump to -$9.3 million. This was well below the $86.3 million achieved at this time last year.

In contrast, sales revenue saw a jump to $154.1 million, up from $52.3 million in the first quarter. Nonetheless, this result is still behind last year's quarter two result of $185 million.

What now for the Jupiter share price?

The Jupiter share price is still down a little over 5% so far this year, however it continues to outpace the All Ords.

Jupiter's attributable cash balance was $76 million at the end of the quarter demonstrating solid resilience to the pandemic. This is largely thanks to its 49.9% share in Tshipi's cash reserves as its mine continues to perform resolutely.

Despite today's rise, the Jupiter share price is currently 31% lower than this time last year.

The post Jupiter (ASX:JMS) share price edges higher on quarterly report appeared first on The Motley Fool Australia.

Jupiter was not aware of Investec's plans to sell down its 13.4% holdings in the company prior to the transaction, with further details yet to be released.

According to a report in The Financial Review, UBS bought the stake from Investec last Wednesday night, offering the shares at 34c each – an 11.7% discount to the last close – on Thursday.

Jupiter's IPO back in April was the biggest among ASX miners in almost 10 years, with the company so far smashing through its targets and raking in some impressive cash assets.

More experienced manganese miner South32 Ltd (ASX: S32) shares have been on the decline of late but were also back in the black at the time of writing – up 1% to $3.46.

Big name commodity players BHP Billiton Limited (ASX: BHP) shares are up 1.9% to $34.03 at the time of writing with peer Rio Tinto Limited (ASX: RIO) also up 1% to $77.32.

The post Jupiter Mines Ltd (ASX:JMS) back in the black after Investec exodus appeared first on The Motley Fool Australia.

Manganese ore sales came in ahead of budget for the quarter, with rail and road volumes also exceeding expectations.

Jupiter has taken advantage of the strong market for manganese to sell off low-grade "lumpy product" from its stockpiles with its Tshipi project on track to meet its annual target with significant cash flow generation the result of higher sales.

Jupiter's IPO back in April was the biggest among ASX miners in almost 10 years, with the company so far smashing through its targets and raking in some impressive cash assets.

More experienced manganese player South32 Ltd (ASX: S32) has also had recent success via its Northern Territory based Groote Eylandt Mine.

Commodity peers BHP Billiton Limited (ASX: BHP) and Rio Tinto Limited (ASX: RIO) are both in the red today, with BHP down 1.7% to $32.40 and RIO down 1.4% to $82.03.

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