As the Autumn leaves turn brown and begin to fall, investors will be hoping their ASX shares remain firmly in the green.

This follows an event-filled earnings season, after which many shareholders will be taking stock of their holdings and making some changes based on those ASX companies that performed, and those that failed to deliver.

If you're looking to usher out the old and welcome some new investments to your portfolio this month, here are a few ideas to get you started.

Because, as always at the start of a new month, we asked our Foolish writers which ASX shares they think offer top buying in March.

Here is what the team came up with:

7 best ASX shares for March 2023 (smallest to largest)

• Aeris Resources Ltd (ASX: AIS), $476.75 million
• Propel Funeral Partners Ltd (ASX: PFP), $519.02 million
• Accent Group Ltd (ASX: AX1), $1.27 billion
• Lovisa Holdings Ltd (ASX: LOV), $2.61 billion
• Block Inc (ASX: SQ2), $3.56 billion
• Pilbara Minerals Ltd (ASX: PLS), $12.59 billion
• Telstra Group Ltd (ASX: TLS), $48.07 billion

(Market capitalisation as of 28 February 2023)

Why our Foolish writers love these ASX stocks

Aeris Resources Ltd

What it does: Aeris calls itself a mid-tier base and precious metals producer, with copper forming the biggest part of its portfolio. The All Ordinaries Index (ASX: XAO) miner also produces gold and zinc.

By Tristan Harrison: I believe the acquisition of Round Oak has boosted this miner's prospects. It has recently reported a number of exploration successes that could help it become bigger in the coming years.

Aeris is also debt free, meaning its balance sheet is in good shape to pursue opportunities.

Furthermore, I think copper has a very promising future as the world looks to decarbonise and electrify economies. Improving the electric grid and manufacturing electric vehicles will need more copper.

Commsec numbers suggest Aeris could make 15 cents of earnings per share (EPS) in FY24, putting the Aeris Resources share price at just five times FY24's estimated earnings.

Motley Fool contributor Tristan Harrison does not own shares in Aeris Resources Ltd.

Propel Funeral Partners Ltd

What it does: Propel Funeral Partners is the second-largest private provider of death care services across Australia and New Zealand. The company holds a vast presence across its 152 operating locations, including 35 cremation facilities and nine cemeteries.

By Mitchell Lawler: There is a combination of characteristics I find highly desirable in the ASX shares I look to invest in. These being businesses that are hard to disrupt, operate in fragmented industries, have a proven track record for growth, and are run by management with skin in the game. Propel is a company that ticks all of these boxes, from where I'm standing.

There are two big players in this industry – InvoCare Limited (ASX: IVC) and Propel. Outside of these two, there is around 70% market share – made up of primarily small, family-run operations – which is arguably just waiting to be consolidated. The Propel team has proven its ability in this regard, having grown its operations from one location in 2013 to now more than 150.

In my opinion, a price-to-earnings (P/E) ratio of 27 times is far too cheap for a company that just posted a 35% increase in operating net profits in the latest half. While I suspect this could slow as funeral volumes return to historical averages, I believe the long-term trend is favourable.

Motley Fool contributor Mitchell Lawler does not own shares in Propel Funeral Partners Ltd.

Accent Group Ltd

What it does: Accent Group is a footwear and clothing retailer and distributor. It's behind such stores as Platypus, The Athlete's Foot, Skechers, Dr Martens, and Vans.

By Brooke Cooper: Accent dropped its first-half earnings last week, delivering impressive growth and a positive outlook.

It posted a 39% jump in sales and a 290% increase in net profit after tax (NPAT). The retailer also declared a 12 cent per share fully franked interim dividend, while its debt levels fell to $63.6 million.

To top it off, Accent hasn't seen any significant change in consumer spending despite economic uncertainty, perhaps as its younger target market likely isn't highly impacted by rising interest rates or cost of living pressures.

Goldman Sachs has a buy rating and a $2.90 price target on Accent shares. This represents around 30% upside based on the current share price.

Motley Fool contributor Brooke Cooper does not own shares of Accent Group Ltd.

Lovisa Holdings Ltd

What it does: Lovisa is a fast-fashion jewellery retailer with a rapidly-growing global footprint.

By James Mickleboro: I think Lovisa would be a great long-term option for investors due to its strong brand, relatively low price point, and bold global expansion plans.

With respect to the latter, during the first half of FY 2023, Lovisa opened 86 net new stores, bringing its total to 715. While this is a large number, I believe it's well short of what could be achieved in the future.

For example, in the United States, the company now has 155 stores. This is less than the 163 stores it operates in Australia, despite the US population being around 13 times greater than ours.

And with its talented management team highly experienced in global rollouts for retail brands, including Guess and Zara, I believe the company could be destined to grow its store network into the thousands by the end of 2020s.

It's no wonder that Morgans has previously suggested that Lovisa could "prove to be one of the biggest success stories in Australian retail".

Motley Fool contributor James Mickleboro does not own shares in Lovisa Holdings Ltd.

Block Inc

What it does: Block is the US tech giant formerly known as Square. It runs several highly successful apps and provides payment services, including Afterpay.

By Sebastian Bowen: Block is an S&P/ASX 200 Index (ASX: XJO) share that has had a very turbulent year or two. But the company's latest quarterly report showed some very pleasing numbers.

The fintech company reported a 14% jump in revenues, as well as a 40% spike in gross profits and a 53% increase in earnings.

Block's Cash App continues to go from strength to strength, with the app's profits rising 64% year on year and Afterpay netting Block $200 million in profits over the quarter.

Block is an exciting fintech company, and one with exposure to multiple markets across different countries. As such, I think it is well worth looking at this March.

Motley Fool contributor Sebastian Bowen does not own shares in Block Inc.

Pilbara Minerals Ltd

What it does: Pilbara Minerals is an ASX 200-listed lithium and tantalum producer. Its 100% owned Pilgangoora Lithium-Tantalum Project, located in Western Australia, is said to be the world's largest, independent hard-rock lithium operation.

By Bernd Struben: I believe Pilbara Minerals is doing a great job executing its development and growth strategies, as demonstrated by its half-year results.

Compared to the prior corresponding period, the lithium miner saw sales revenue surge 305% to $2.2 billion and statutory net profit after tax (NPAT) leapt 989% to $1.2 billion.

The company also declared its first-ever dividend of 11 cents per share, fully franked. That represents a 2.6% yield at the current price. Pilbara trades ex-dividend on Thursday, 2 March.

The Pilbara Minerals share price is up by around 60% in 12 months. But I believe the miner has far more to offer long term, as the growth outlook for EVs and grid storage batteries – most of which require lithium – remains very strong.

Motley Fool contributor Bernd Struben does not own shares in Pilbara Minerals Ltd.

Telstra Group Ltd

What it does: Telstra is Australia's largest provider of telecommunications and information products and services.

By Bronwyn Allen: Australia's biggest telco and the largest ASX communications stock by market cap is currently a favourite among several top brokers.

Macquarie has placed Telstra at the top of its model income portfolio with an 8.8% weighting. It likes Telstra's higher earnings certainty, strong cash flows, and fully-franked dividends.

Macquarie has an outperform rating and a 12-month price target of $4.64. After Telstra released its half-year earnings earlier this month, Goldman Sachs reiterated its buy rating with a price target of $4.60.

Morgans says the telco industry "has the strongest tailwinds in a decade" and has a $4.70 price target on Telstra shares. At market close on Tuesday, the Telstra share price was sitting at $4.16.

Motley Fool contributor Bronwyn Allen does not own shares in Telstra Group Ltd.

The post Top ASX shares to buy in March 2023 appeared first on The Motley Fool Australia.

For readers that haven't heard of it before, it's predominately a copper miner. But, it has exposure to other commodities including gold and zinc.

While its headquarters are in Brisbane, its portfolio (including exploration targets) is across the country in Queensland, Western Australia, New South Wales and Victoria.

The ASX mining share is well-placed for growth

At the end of the FY23 second quarter, it had $67.2 million of cash on the balance sheet and it was debt free. Its balance sheet is in great shape to pursue multiple growth activities.

The business said that it has a "strong pipeline of organic growth projects, an aggressive exploration program and continues to investigate strategic merger and acquisitions opportunities."

In its FY23 second quarter update, it noted resource upgrades at Golden Plateau (Cracow project) and Turbo (Jaguar project). It also mentioned high-grade copper intersections from drilling at Avoca Tank and Kurrajong (Tritton project).

The ASX mining share is also working on other areas to add resources to grow the business. For example, its Barbara exploration efforts will include a mining study that could result in a potential underground operation "of similar scale to Mt Colin".

All of the above bodes well for the future Aeris Resources share price, in my opinion.

Copper demand to boom?

Various reporting suggests that copper demand is going to increase significantly as the world moves towards decarbonisation and electrification.

For example, CNBC noted that electric vehicles, solar, wind power and batteries for energy storage all require copper. An electric vehicle needs 2.5 times as much copper as an internal combustion engine vehicle, according to S&P Global. The growing electricity grid will also need a lot of copper.

S&P Global suggested that copper demand will nearly double to 50 million tonnes by 2035.

To me, this suggests that the copper price could rise as well, though I'm not going to try to predict how far it could go.

Compelling valuation

The Aeris Resources share price has risen close to 40% since this article, which suggested that the copper miner could have a good year in 2023.

I still think that the ASX mining share is on track for pleasing shareholder returns from here.

The forecast on Commsec suggests that Aeris could achieve earnings per share (EPS) of 15.1 cents in FY24 and 15.6 cents in FY25, putting it at under 5 times the estimated earnings for those years.

If those forecasts are correct (or conservative) and if Aeris reaches a price/earnings (P/E) ratio of (just) 6, it would be a share price return of over 20%.

Also, with a possible P/E ratio at such a low number, any dividends would end up being a very large dividend yield, though there's no talk of dividends yet.

Imagine if Aeris keeps making 15 cents per share of EPS and it targets a dividend payout ratio of 50%. A dividend of 7.5 cents per share would be a cash dividend yield of 10.1% and 14.5% assuming the Aussie company generated and attached franking credits.

For now, the ASX mining share's cash is better spent on growth expenditure.

The post I think this ASX mining share is a hidden treasure waiting to be discovered appeared first on The Motley Fool Australia.

More than one expert is hinting that copper might be the new trendy commodity among ASX investors, like what lithium has been the last few years.

Just this week The Motley Fool reported Argonaut associate dealer Harrison Massey spruik a copper miner as a buy, and Shaw and Partners senior investment advisor Adam Dawes do the same.

Now Maqro Capital head of trading Mark Gardner has piled on, explaining why there will be a massive price swell for the commodity.

Plus, in a post on Livewire, he named the three best ASX shares to get copper exposure:

Why copper is about to see a huge shortage

Gardner pointed out that coal, nickel and lithium all experienced a "price squeeze" over the past 12 months.

"The EV transition drove the squeeze in lithium, rare earths and nickel — all of which are key components of battery making," he said.

"While the battery materials shortage will largely be solved by oncoming global production over the next few years, copper is the forgotten commodity that is required to conduct all this energy, both fossil and green."

Four red flags are indicating to Gardner that demand will far outstrip supply of copper for the coming period:

• Over-reliance on one region for supply,
• Lack of new mines due to environmental pressure
• Record-low inventory levels
• Supply issues due to geopolitics

"Arguments one and four are dangerously related. The two biggest global producers of copper are Chile and Peru. Together, the South American powerhouses make up 43% of the world supply," said Gardner.

"They also happen to be in political disarray."

Peru recently saw a failed coup that triggered mass demonstrations.

"The protests already threatened 30% of Peru's copper supply with some Chinese miners having already closed down some mines," Gardner said.

"This is the equivalent to 75% of Australian production shutting down tomorrow. If political unrest continues, 13% of the world supply may come under threat."

Chile is going through its own issues, with high inflation and unemployment.

"This has seen the crime rate jump by a staggering 50% and protests from the left gaining momentum, which will spell disaster for the foreign-owned copper mines."

The lack of new mines has led to a depletion of most of the copper that was warehoused or recycled.

A perfect storm is, therefore, brewing.

"Copper has all the hallmarks of being the next big price squeeze in the commodity sector." 

How to get exposure to copper on the ASX

Asked to name the three best ASX shares for investors to gain copper exposure, Gardner admitted the opportunities were scarce.

So his first pick was actually an exchange-traded fund — Global X Copper Miners ETF AUD (ASX: WIRE).

"This new ETF from GlobalX ETFs has some of the best copper producers from around the globe," 

"Canada, Australia, Mexico and China make up over 60% of the ETF, which largely avoids the perils of the South American unrest with only a 5.8% exposure to Chile."

The second opportunity is possibly the "last man standing" after OZ Minerals Limited (ASX: OZL) disappears from the bourse after the BHP Group Ltd (ASX: BHP) takeover.

"Sandfire Resources Ltd (ASX: SFR) is one of the last large cap copper plays left on the ASX," said Gardner.

"Given the strong copper price dynamics, we see strong potential for the company to exceed revenue expectations."

The third pick is a smaller player but, according to Gardner, may offer the greatest upside.

"Aeris Resources Ltd (ASX: AIS) has five tenements with four in production in 2023. The combined mine life of the five projects is 18 years with 57 to 71kt of production expected from the group next year and 780kt in reserves."

The post Is copper the new lithium? Expert names 3 ASX shares to buy appeared first on The Motley Fool Australia.

Certainly, many resource prices are cyclical because of changing supply and demand.

But when sentiment and demand is low, it can be a good time to invest. Conversely, when resource prices are high, it might be worth considering if it's wise to wait for a better price.

With that in mind, I think the following three ASX mining shares are worth investing in after the latest changes in their share prices.

Mineral Resources Ltd (ASX: MIN)

Mineral Resources is one of the most interesting resource businesses in my opinion. It's a leading mining services business but it is also aiming to grow both its iron ore and lithium production.

It is sometimes called the cheapest ASX lithium miner on the ASX. Mineral Resources also wants to become a top five hydroxide producer, with "full vertical integration – [a] pit to battery manufacturer".

The ASX mining share is also working on its transition to becoming a large, low-cost iron ore producer, with a goal of reaching more than 90 mt per annum in a few years.

In FY24, it could generate $16 of earnings per share (EPS), putting it at under six times FY24's estimated earnings, according to Commsec. It may also pay an annual dividend per share of $6, translating into a potential grossed-up dividend yield of 9.6%.

Aeris Resources Ltd (ASX: AIS)

This is a relatively small company that is predominately a copper miner. However, it also produces gold, zinc, and silver.

Aeris is working on the Stockman project in Victoria, which will unlock another source of production and cash flow for the business. This is a copper and zinc project.

The business is working hard on cost management while aiming to increase its production over time. It continues to spend millions on exploration to try to find its next project.

In FY24, this ASX mining share could generate 15 cents of EPS, which would put the Aeris share price at under five times FY24's estimated earnings, according to Commsec.

I don't think the market is fully appreciating how much profit this company could generate in the next few years. It could also turn into a good dividend payer at this share price.

Pilbara Minerals Ltd (ASX: PLS)

The Pilbara Minerals share price has recovered most of the ground that it lost at the end of 2022.

I think the ASX lithium share has demonstrated enough over the last few months to justify the excitement.

It's still generating a lot of cash flow. At the end of December 2022, it finished with a huge cash balance of $2.2 billion.

Profitability is very strong. In the three months to 31 December 2022, it saw production rise 10% quarter over quarter to 162,151 dry metric tonnes (dmt). The average realised sales price was up 33% quarter over quarter to US$5,668 per dmt. The unit operating cost was down 5% quarter over quarter to A$579 per dmt.

I like the company's plans to increase its lithium production and also gain exposure to more of the lithium value chain. I'd have preferred to buy it at a cheaper price, but I still think it has long-term potential with how many electric vehicles are expected to be produced.

Based on Commsec estimates, Pilbara Minerals shares are valued at under eight times FY24's estimated earnings.

The post 3 top ASX mining shares I'd dig into and buy in February appeared first on The Motley Fool Australia.

In 2022 there was a deterioration in the copper price. That's despite some other commodities having a strong run such as lithium. While copper isn't involved with energy generation, it is playing an important part in the decarbonisation of the world. Copper is used in electricity cables.

Despite the recovery of the Sandfire Resources Ltd (ASX: SFR) share price in recent weeks, it's still down by 17% for the year.

There has been a prediction that next year could be good for the copper price, which could help copper miners including Sandfire, BHP Group Ltd (ASX: BHP) and Aeris Resources Ltd (ASX: AIS).

It may previously have been a help for the OZ Minerals Limited (ASX: OZL) share price too, but it has accepted a takeover offer from BHP.

Optimistic call on the copper price

According to reporting by CNBC, Bank of America commodity strategies think that the copper price could rally to US$12,000 per tonne in the second quarter if things go well.

However, the circumstances that could be required for that rally include the US Federal Reserve pivoting to a "less aggressive" monetary policy tightening, "limiting upside in the US dollar, and for demand to remain supported as the planned energy transition accelerates."

Commodity strategist Michael Widmer said in Bank of America's 2023 metals outlook report:

Notwithstanding the macro headwinds, physical markets have remained tight, highlighting the lack of spare copper units available at present.

Taking this a step further…China's grid spending has offset weakness in the wider economy: indeed, building out the electricity infrastructure has completely offset weakness in the housing market.

CNBC noted that the analyst wondered whether this is a one-off or the start of a structural trend. Widmer said that over the past year and a half there has been a break in the correlation between global copper demand and industrial production growth. Widmer concluded:

In our view, this confirms to some extent that green spending has already supported global copper demand and physical markets.

Bank of America data suggests that copper demand could grow by 4.5% year over year to 2030. That compares to demand growth of 2.1% over the past two decades.

Foolish takeaway

Higher demand could be very helpful for the copper price in the shorter term. Higher profit could then be a boost for the share prices of these ASX copper shares. How much of a boost? Time will tell, and it could depend on how the copper price performs. It's also possible things won't go as well as the optimistic view of Bank of America.

The post 3 ASX shares that could benefit from a predicted copper price boom next year appeared first on The Motley Fool Australia.

ASX shares with exposure to copper are in the spotlight following a bullish outlook for the price of the red metal from Goldman Sachs.

With the broker tipping copper prices will hit new all-time highs in 2023 as demand exceeds supply, copper stocks could be set for some fresh tailwinds.

There are more than a dozen ASX shares exploring for and digging up copper.

Sticking to the biggest three we have:

• Oz Minerals Limited (ASX: OZL), with a market cap of $9.2 billion
• Sandfire Resources Ltd (ASX: SFR), with a market cap of $2.4 billion
• Aeris Resources Ltd (ASX: AIS), with a market cap of $366 million

So, why is Goldman forecasting a surge in prices?

Why might copper prices hit new all-time highs in 2023?

As The Australian Financial Review reports, Goldman has revised its forecast for the copper market in 2023 from the previous 169,000 tonne surplus to its new expectations of a 178,000 tonne deficit.

The bullish revision, certainly to be welcomed by ASX shares producing copper, is based on both supply and demand dynamics.

On the supply side, Goldman expects reduced output from Chile, a major player in the copper space.

On the demand side, China's reopening as it moves away from its economy hampering COVID zero policies should see a significant boost from the world's top copper importer. Copper is also widely used in the construction and green energy sectors, both of which Goldman sees powering ahead in 2023.

Copper prices previously hit all-time highs on 4 March this year, at US$10,670 per tonne. ASX copper shares, as you'd expect, rallied over that period.

New record prices would help support ASX copper shares

That March 2022 record will be broken in 2023 if Goldman is correct, with the broker forecasting the red metal to hit US$11,000 per tonne next year.

Commenting on that forecast, Nicholas Snowdon, metals strategist at Goldman Sachs said (quoted by The AFR):

The sequential increase in policy targets and commitments to green transition, alongside a minimal supply response so far… have resulted in earlier and larger open-ended deficit conditions that essentially are already here, not beginning at some point in the future…

Another deficit in the market next year will take fundamental conditions to an unprecedented extreme in terms of tightness.

In longer-term good news for ASX shares hunting for and producing copper, Goldman Sachs forecasts copper prices to remain strong, averaging US$12,000 per tonne in 2024.

Below you can see how the big copper shares have been tracking.

The post Goldman tips record copper prices in 2023. Which ASX shares have exposure? appeared first on The Motley Fool Australia.

The S&P/ASX All Ordinaries Index (ASX: XAO) delightfully dished up another positive month in November.

Share markets have been buoyed by signs that inflation may have peaked and the pace of interest rate hikes could slow.

So, as optimism abounded, the ASX All Ords index continued its recovery, gaining 6.0% across the month to close out spring at 7,480 points.

As always, some ASX All Ords shares were soaring to loftier heights than the rest.

Without further ado, here are the three best-performing ASX All Ords shares in November in terms of share price gains.

Aeris Resources Ltd (ASX: AIS)

Topping the ASX All Ords tables in November was mid-tier base and precious metals producer Aeris Resources.

The Aeris Resources share price shot up 64% across the month to finish at 53 cents as its market capitalisation ballooned to $366 million.

On the last day of October, Aeris released its first-quarter results, which were met with an 18% share price slide.

But it appears this was a knee-jerk overreaction. As the market digested the results, the Aeris share price stormed higher, which set the tone for the rest of the month.

The biggest announcement from Aeris in November came in the form of a mineral resource update.

The ASX miner revealed an updated mineral resource estimate (MRE) for the Turbo lens at the Bentley deposit, located at Aeris' 100%-owned Jaguar Operations in Western Australia. 

The updated mineral resource materially increased the ore tonnes and metal content at the Turbo lens. The MRE now stands at 1.26 million tonnes at 1.82% copper, 8.5% zinc, 0.72 grams per tonne (g/t) gold, and 47g/t silver.

What's more, the drilling campaign resulted in the majority of the resource classification being upgraded to indicated status.

Renascor Resources Ltd (ASX: RNU)

The next cab off the rank is another ASX miner, with Renascor Resources taking out the title of the second best-performing ASX All Ords share in November.

The Renascor share price had a spring in its step, flying 59% across the month to finish at 35 cents. The company's market cap currently stands at around $750 million. 

Renascor is an exploration and development company with a portfolio of projects in South Australia. Its flagship project is the Siviour battery anode material project, the world's second-largest proven graphite reserve.

The Renascor share price steadily climbed throughout the month. Similarly to Aeris, Renascor released its quarterly results on the last day of October.

Following this, the company kicked off November by presenting at the International Mining and Resources Conference in Sydney. 

It was then radio silence for the rest of the month until Rensacor revealed it had received a key approval for its Saviour Project.

Specifically, the South Australian Department of Energy and Mining has granted Renascor approval for the Program for Environment Protection and Rehabilitation (PEPR) for its proposed Siviour mine and concentrator.

The PEPR approval permits Renascor to process up to 1.65 million tonnes per annum. This would allow the ASX All Ords share to produce up to 150,000 tonnes of graphite concentrates per year.

With this approval under its belt, Renascor can now develop the upstream graphite mine and concentrator portion of the Siviour project.

Ainsworth Game Technology Limited (ASX: AGI)

Last but not least, Ainsworth Game Technology rounds out the podium finishes with a whopping share price gain of 58% in November.

Ainsworth designs and manufactures a range of slot machines and a catalogue of standalone and linked games. The ASX gaming share currently boasts a market cap of $420 million.

It was a rather quiet affair at Ainsworth for most of the month, with its share price marching upward despite no news coming from the company.

But the Ainsworth share price received an added boost when the ASX All Ords share held its 2022 annual general meeting (AGM) at the end of November.

Notably, the company instated guidance at its AGM. Based on its current forecasts, Ainsworth expects to achieve around $18 million in normalised profit before tax in the first half of FY23.

The company is building on strong momentum, which saw it deliver normalised profit before tax of $17.3 million in 2H22, up considerably from $10.0 million in 1H22.

Looking ahead, Ainsworth expects to have continued growth in North America, further improvements in Latin America, and steady performance in Australia.

The post These were the 3 best-performing ASX All Ords shares in November appeared first on The Motley Fool Australia.

The Aeris Resources Ltd (ASX: AIS) share price finished the session on Friday down 2.08% after the company announced its financials for FY22.

Shares in the precious minerals explorer closed at 47 cents each.

Let's go over the highlights of the report.

What did Aeris Resources report?

• Revenue from ordinary activities fell 10.4% year over year (yoy) to $386.58 million
• Adjusted earnings before interest, tax, depreciation, and amortisation (EBITDA) down 43.1% yoy to $93.65 million
• Profit from ordinary activities after tax down 90.2% yoy to $6.01 million
• Diluted earnings per share (EPS) down 92.09% yoy to 1.7 cents
• No dividend declared.

The 90.2% nosedive in profit after tax significantly impacted the EBITDA, caused by an increase in all-in sustaining costs (AISC) for producing the precious metals.

The company reported it produced 18,581 tonnes of copper, which fell within guidance. However, its AISC surged to $5.10/lb, above the top end of its $4.85/lb guidance range. Aeris Resources cited a weaker labour market and cost pressures as being the cause of the increase. Lower copper grades from its Tritton underground mines didn't help either, diluting their value per tonne.

The production of gold was less successful for the company, as it realised 53,920 ounces which fell below the lower limit of its previously posited guidance of 56,000 to 59,000. Making problems worse, AISC was also below guidance at $1,911/oz, overshooting its guidance of $1,825/oz. The main cause of the cost increase was lower yields on its gold production, which put pressure on its cost basis per ounce.

What else happened in FY22?

In April, the company acquired Round Oak Minerals. It completed a $117 million equity raise in the same period.

Aeris Resources paid down debt on its balance sheet of US$20.25 million to help improve its financial position moving forward.

It also delisted a number of its companies in FY21, including Girilambone Copper Company Pty Ltd and Templar Resources Pty Ltd.

What did management say?

Aeris Resources remuneration committee chair Michele Muscillo said:

Throughout the financial year, the company was impacted by industry-wide cost and labour market pressures, which we worked hard to contain across the operations. Australia experienced an increasingly competitive job market, with low unemployment rates fuelling labour shortages of skilled workers.

What's next?

Aeris Resources expects production for its precious metals to ramp up considerably in FY23, along with an increase in operating and capital costs. The company has raised its production targets because Round Oak Minerals will become part of its operations in FY23. It completed the purchase in July this year.

The company expects increased copper production of between 32 kilotonnes and 40 kilotonnes, up from 18.6 kilotonnes. It expects to deliver 24 kilotonnes to 29 kilotonnes of zinc, up from zero in FY22.

Aeris anticipates 60,000 to 78,000 ounces of gold, up from 58,200 ounces. Finally, it expects to mine between 1.1 million and 1.3 million ounces of silver, up from 0.1 million.

The company's largest projected operating expenses will come from mining and processing in the ranges of $229 million to $277 million and $98 million to $120 million, respectively.

The largest capital costs are expected to be seen in its sustaining line item at $91 million to $112 million, up from $47 million.

Aeris Resources share price snapshot

The Aeris Resources share price is down 58.4% year to date. Meanwhile, the S&P/ASX 300 Metals and Mining Index (ASX: XMM) is down 0.2% over the same period.

The company's market capitalisation is $331.65 million based on today's closing share price.

The post Aeris Resources share price drops after 90% profit plummet appeared first on The Motley Fool Australia.

Yes, the S&P/ASX 200 Index (ASX: XJO) has certainly bounced 9% over the past seven weeks.

But due to the ugly drops in the first half of this year, there are still plenty of tempting bargains out there if you know where to look.

Here is a pair of such ASX shares to buy right now, as suggested by Medallion Financial Group advisor Stuart Bromley.

'Significant discount' for software company

Kiwi software provider Xero Limited (ASX: XRO) watched in horror over the first half of 2022 as its share price halved.

However, like many growth stocks, it has rallied the past few weeks to be more than 22% up over July and August.

But that still means it is down 35.8% for the year so far.

For Bromley, this means there's still a buying opportunity for Xero.

"The stock is trading at a significant discount to prior highs," he told The Bull.

"This accounting software provider was sold down in the past six months, along with many other stocks in the technology sector."

Bromley reminded investors that customers "tend to stick" with Xero once they have switched over, which is understandable for accounting software.

Small businesses don't have the appetite to constantly spend time and money to convert their books over to a different system. Big companies don't either, to be frank. 

"Xero has more than 3 million subscribers and continues to build momentum," said Bromley.

"We like the business, as it's capital light and scalable."

The Motley Fool reported over the weekend that Goldman Sachs also believes in the "stickiness" of Xero's software.

"The broker has a buy rating and $113.00 price target on Xero's shares," wrote James Mickleboro.

That makes it a 20% upside from the current level.

Upside for when the economy improves

Unlike Xero, Aeris Resources Ltd (ASX: AIS) shares haven't even had a second-half revival.

All up it's now worse than half the valuation at the start of this year.

But Bromley likes the look of Aeris Resources now that investment company Washington H Soul Pattinson and Co Ltd (ASX: SOL) is entangled in its affairs.

"This copper and gold miner recently acquired Round Oak Minerals from Washington H Soul Pattinson. The transaction allays fears about AIS mine life, in our view," he said.

"Washington H Soul Pattinson becomes the biggest shareholder in Aeris, which is positive."

Aeris produces copper, which dips in price when the outlook for the economy is negative.

"We expect the Aeris share price to recover when copper prices rise and the economy improves," said Bromley.

"More upside potential exists if the company delivers positive exploration results."

Aeris will deliver its financials on 25 August.

The post 'Capital light and scalable': Expert picks 2 ASX shares to buy now while CHEAP appeared first on The Motley Fool Australia.

ASX copper shares are having a mixed day as the slumping copper price offsets a resurgence in risk appetite.

While the S&P/ASX 200 Index (ASX: XJO) is rallying 1.9% during early afternoon trade with many of the big miners leading the charge. Although, those exposed to the red metal aren't necessarily joining the party.

Little wonder as copper prices fell to new 16-month lows this morning. The commodity is fetching US$3.70 a pound.

Recession worries dent ASX copper shares

Sentiment towards the metal was already tarnished last week when it slipped to US$3.78 a pound. That was a one-day loss of 4% and its lowest level since February 2021.    

Worries about a global recession triggered the sell-off in Dr Copper – so named as copper is seen as a bellwether for the metals market.

Central bankers in the developed economies are hiking interest rates to curtail rampant inflation. Indeed, we are seeing this in the US, Europe, and Australia.

Their hawkish stance is increasing the risk that they may hike rates too far and fast. Any miscalculation could cause their respective economies to contract.

ASX copper shares underperforming today

A recession will ultimately mean lower demand and prices for copper. That's certainly bad news for ASX copper shares.

The OZ Minerals Limited (ASX: OZL) share price is one that's taking a beating with a 2.14% drop to $18.78, while the Aeris Resources Ltd (ASX: AIS) share price is flat as the broader market is rising.

The OZ Minerals share price is also copping a beating because of its production downgrade released today.

Downgrades hit the OZ Minerals share price

The miner said group copper production for 2022 would range between 120,000 and 135,000 tonnes. This is below its previous guidance of 127,000 to 149,000 tonnes.

Adding insult to injury, costs are also rising. The expected C1 cash costs are up to US$1.05 to US$1.20 a pound. This compares with the original estimate of US85 cents to US95 cents a pound.

Bad weather and employee absenteeism due to COVID-19 are to blame, the company says. OZ Minerals' Carrapateena mine is also being impacted by equipment failure and ongoing resourcing issues.

A few bright spots

But it isn't all bad news for ASX copper miners. The Sandfire Resources Ltd (ASX: SFR) share price is surging 3.2% to $4.675.

The company's shares are still down almost 30% since the start of 2021 but shareholders will be taking the wins wherever they can find them.

Also, the strong rebound in equities today is driven by the belief that too much recession risk has been priced into markets.

If this is true, ASX copper shares could stage a big comeback later this year.

The post 16-month low: How ASX copper shares are faring this month appeared first on The Motley Fool Australia.

The Aeris Resources Ltd (ASX: AIS) share price is in the green today amid a company announcement on recent gold and copper assays obtained from the company's Tritton tenement.

At the time of writing, the Aeries share price is trading 3.85% higher at 13.5 cents.

Golden results push Aeris Resources share price higher

Aeries provided an update on the latest assay results from the "ongoing resource definition drilling program" at the Constellation deposit. The deposit is located at the company's Tritton tenement in New South Wales, not far from the Tritton processing plant.

The announcement notes the company has received assay results for a further ten diamond drill holes from the drill program at Constellation.

Results are promising and show extensions below the current mineral resource of both gold and copper deposits.

Specifically, the company intersected 5.21m @ 7.45% Cu, 3.19g/t Au, 59.4g/t Ag (from 354.10m) and 8.27m @ 4.76% Cu, 1.55g/t Au, 16.3g/t Ag (from 148.80m).

Data obtained from these tests has given Aeris further insight into the Constellation deposit at Tritton.

"The orientation of the majority of the Constellation deposit is a continuous gently dipping sulphide body. Toward the northern margin of the deposit, the primary sulphide envelope changes orientation, from a north-south trending gentle dipping envelope to a sub-vertical east-west trending system," the company said.

On the back of these updates, the company confirmed that resource definition drilling at Constellation is nearly completed.

Consequently, investors can expect updates on the mineral resource "in the June quarter of this year", according to the company's announcement.

Management commentary

Speaking on the announcement, Aeris' executive chair Andre Labuschagne said:

The Constellation drilling program continues to deliver excellent high-grade copper and gold assays. The latest assay results from the drilling within the current Mineral Resource continues to demonstrate that the near surface section of the deposit contain exceptionally high-grade copper and gold mineralisation. This provides the potential for significant early cashflows from open-pit mining. The latest drilling below the current Mineral Resource was focused on the southern margins of the deposit, with assays also showing both good copper and gold grades.

Aeris Resources share price snapshot

In the last 12 months, the Aeris Resouces share price has soared by around 35%. However, it is down more than 18% this year to date.

During the past month of trading alone, the company's shares have collapsed almost 13%.

At its current share price, the company presides a market capitalisation of approximately $304 million.

The post Whopper copper! Why the Aeris (ASX:AIS) share price is higher today appeared first on The Motley Fool Australia.

Key points

• Sandfire announces completion of its US$1.87 billion MATSA acquisition, making it one of the biggest ASX copper-focused miners
• Sandfire share price rises after the news, but lags its peers
• Management reassures investors that the integration is going well and that the company's balance sheet remains strong

The Sandfire Resources Ltd (ASX: SFR) share price is rallying today after the company announced it has finalised the acquisition of the MATSA mining complex in Spain.

The US$1.87 billion (AU$2.6 billion) transaction will transform Sandfire into one of the largest ASX copper-focused miners.

The Sandfire share price jumped 1.2% to $6.79 during lunchtime trade, although it's lagging behind its peers.

The OZ Minerals Limited (ASX: OZL) share price and Aeris Resources Ltd (ASX: AIS) share price gained around 3% each.

New era for the Sandfire share price

Nonetheless, the completion of the MATSA acquisition is a major milestone for Sandfire and the ASX miner has full operational control over the Spanish target as of yesterday.

The deal was finally consummated after the miner gained key approvals from relevant Spanish Government authorities. This included the Foreign Direct Investment and Competition Authority in late December 2021.

More significantly, management reported that the integration of MATSA is well progressed. Bedding down acquisitions is always challenging, especially such a large one.

How Sandfire's balance sheet looks post acquisition

The takeover was funded through existing cash reserves, last year's $1.3 billion capital raise, and a $1.1 billion debt.

However, Sandfire assured investors that it still holds a strong balance sheet. Post the transaction, Sandfire has $384 million for working capital, and that's not including the cash held by MATSA.

The acquisition, announced on 23 September last year, gives Sandfire control of an asset in the world-class Iberian Pyrite Belt in the Huelva Province of Andalusia in south-western Spain.

MATSA is a substantial polymetallic mining complex. It comprises three underground mines and a 4.7Mtpa central processing facility.

Exploration upside for the Sandfire share price

MATSA also includes exploration rights covering 2,450km square in Spain and neighbouring Portugal. Sandfire pointed out that this gives it long-term exploration upside and organic growth opportunities.

"Today marks the beginning of an exciting new era for Sandfire, with our business expanding to an organisation with a workforce of around 3,800 direct employees and contractors around the globe," said Sandfire's managing director, Karl Simich.

"Our vision for Sandfire is to become an international diversified and sustainable mining company, and the completion of this transaction represents a major step closer to realising this aspiration."

The post Sandfire (ASX:SFR) share price firms after completion of $2.6b acquisition appeared first on The Motley Fool Australia.

This as the All Ordinaries Index (ASX: XAO) remains down 0.29%, after regaining some heftier earlier losses.

Below, we take a look at what's driving ASX investor interest in the resource explorer and producer.

What did Aeris report?

The Aeris Resources share price is leaping higher after the company announced a maiden Mineral Resource estimate for its Constellation deposit. That deposit is located in its 100% owned Tritton tenement package in New South Wales.

The Mineral Resource estimate for Constellation totals 3.3 million tonnes at 1.4% copper, for 47,000 tonnes of copper metal.

According to the release that includes:

• Indicated Mineral Resource for high-grade Supergene mineralisation of 0.5 million tonnes at 3.4% copper, for 18,000 tonnes of copper metal; and
• Indicated and Inferred Mineral Resource for Sulphide (Primary) mineralisation of 1.4 million tonnes at 1.6% copper, for 23,000 tonnes of contained copper

The Aeris Resources share price could also be getting a lift from the company reporting that it has defined an Exploration Target for primary mineralisation below the reported Mineral Resource.

Commenting on the results, Aeris' executive chairman, Andre Labuschagne said:

This maiden Mineral Resource and Exploration Target for the Constellation deposit confirms our long-held view that Constellation is a significant copper deposit and will play an important role in extending the life of our Tritton Copper Operation.

To go from initial discovery to maiden Mineral Resource in just over 12 months is a fantastic outcome by our exploration team. What is also exciting is that Constellation remains open down-plunge.

Labuschagne said the company is continuing with its resource definition drilling and hopes to provide an updated Mineral Resource by the end of the March 2022 quarter.

"Preliminary indications from the metallurgical test work appear positive and we are targeting to deliver detailed results by the end of January 2022," he added.

Aeris Resources share price snapshot

The Aeris Resources share price is up 68% over the past 12 months, well outpacing the 10% gains posted by the All Ords during that same period.

Over the last month, Aeris Resources shares have lost 3%.

The post Here's why the Aeris Resources (ASX:AIS) share price is shooting higher today appeared first on The Motley Fool Australia.

The Aeris Resources Ltd (ASX: AIS) share price is heading south during mid-afternoon trade on Monday. This follows a speculative media report that the copper miner is believed to be contending for Glencore's CSA mine.

At the time of writing, Aeris shares are fetching for 19.5 cents apiece, down 2.50%.

What happened?

According to The Australian, Aeris Resources is believed to be competing with 29Metals Ltd (ASX: 29M) for the CSA mine.

Located in the town of Cobar, New South Wales, the CSA asset is one of Australia's highest-grade copper mines. It produces around 50,000 tonnes of copper each year, with processing onsite for export to smelters in Asia.

Aeris Resources responded to the media speculation advising that its aware of Glencore seeking proposals for its CSA asset. As such, it reiterated that it has a clear-cut strategy for promoting organic growth and evaluating strategic opportunities.

The company noted that the latest developments do not indicate whether it will proceed with a particular transaction.

It's worth noting that this is the third time that Glencore has tried to offload its copper mine.

In 2015, the company decided to sell the CSA mine in a bid to drive down its growing debt profile. However, after coal prices surged that year, Glencore quickly pulled its listing off the market. 

Four years later, Glencore recommenced its sales efforts after receiving offers to purchase the mine. Aeris Resources originally planned to acquire the asset for US$575 million but the deal fell through. Both parties were not able to ultimately agree on the terms of the sale.

Aeris Resources share price snapshot

Over the past 12 months, Aeris Resources shares have rocketed by more than 190%. When looking at this year alone, its shares have recorded gains of above 90%, reflecting continued positive sentiment among investors. 

Based on today's price, Aeris Resources has a market capitalisation of roughly $429.25 million, with more than 2.2 billion shares outstanding.

The post Aeris Resources (ASX:AIS) share price slips on response to media article appeared first on The Motley Fool Australia.

Four ASX shares that are not letting that hold them back are listed below. Here's why they are pushing higher:

Aeris Resources Ltd (ASX: AIS)

The Aeris Resources share price is up over 5% to 19.5 cents. This follows the release of a drilling update by the copper and gold explorer. According to the release, Aeris Resources' drilling results show that its Constellation deposit is a high grade copper deposit with some exceptionally high grade intersections in the shallow supergene zone.

Macquarie Group Ltd (ASX: MQG)

The Macquarie share price is up 5% to $179.72. This follows the release of a trading update from the the investment bank. According to the release, Macquarie expects its first half profits to be down slightly on the second half of FY 2021. Looking further ahead, the bank believes it is positioned to deliver superior performance in the medium term.

Novonix Ltd (ASX: NVX)

The Novonix share price is up a further 9% to $5.36. This is despite there being no news out of the battery materials company today. However, after the market close on Friday, it was announced that Novonix would be joining the ASX 300 index at the next quarterly rebalance on 20 September.

Qube Holdings Ltd (ASX: QUB)

The Qube share price is up 3.5% to $3.38. This morning the company announced a binding agreement to acquire Newcastle Agri Terminal (NAT). According to the release, the total consideration is in the order of $90 million, which will be funded through Qube's existing undrawn debt facilities. Completion is expected to occur on 30 September.

The post Why Aeris Resources, Macquarie, Novonix, & Qube shares are pushing higher appeared first on The Motley Fool Australia.

The Aeris Resources Ltd (ASX: AIS) share price is rocketing higher today, up by 16.67% in afternoon trade.

At the current 24.5 cents, Aeris Resources shares are now trading at 8-year highs. In fact, you'd need to dig back to April 2013 to find the ASX resource explorer trading above today's levels.

Below we take a look at the series of announcements made today, which appear to be driving investor interest.

What's driving the Aeris Resources share price?

Aeris Resources shares are soaring after emerging from a brief pause in trading pending a raft of market announcements.

Among those announcements, the company reported on the life-of-mine extension projects at its 100% owned Tritton copper operations in New South Wales.

The projects are slated to kick off in the 2022 financial year. Aeris will spend $50 million over the year to develop 3 new production sources.

Additonally, the company announced a $15 million exploration program for Tritton. It noted "there's more copper to be found" at the site.

Commenting on the plan, Aeris' executive chairman Andre Labuschagne said:

Apart from the Tritton and Murrawombie underground mines, we have an extensive pipeline of advanced projects, which we are now able to invest in to extend the mine life.

FY22 will see us develop three new production sources and undertake in-fill resource drilling programs on a further three projects, including the high grade Constellation and Kurrajong deposits.

The Aeris Resources share price has also received a lift as copper prices have been trending higher over the past year.

"The fundamentals for copper into the coming years look very positive as the decarbonisation of the world accelerates," Labuschagne said. He added that Aeris is in a good position to "leverage value from the looming copper supply deficit".

In a separate announcement, Aeris updated the market on exploration activities at the Constellation deposit, located within the Tritton tenement.

Commenting on the reverse circulation (RC) drilling results to date, Labuschagne said:

The supergene mineralisation, in particular, is showing very high copper grades. The relative proximity of this mineralisation to the surface means it can be accessed early on in any future development of the Constellation deposit.

Increased gold estimates

The company also reported an increase in its ore reserves and mineral resources at its 100% owned Cracow gold operations in Queensland. This news could also be impacting the Aeris Resources share price. The company said the increase was due to multiple life extension projects carried out at the site.

It reported its 2-year gold production guidance as 67,000–71,000 ounces in FY22 and 60,000-65,000 ounces in FY23. Aeris upgraded its exploration budget over its first 2 years of ownership of the mine to $19 million, up from $13 million.

According to Labuschagne:

As a result of the extensive geological re-interpretation work undertaken in FY21, we remain convinced that the Cracow tenement package remains highly prospective for discovery of more gold.

Aeris Resources share price snapshot

Over the past 12 months Aeris Resources shares have soared a stunning 512%. This compares to a gain of 28% posted by the All Ordinaries Index (ASX: XAO).

Year-to-date the Aeris Resources share price has continued to outperform, up 120% in 2021.

The post Why the Aeris Resources (ASX:AIS) share price is soaring 16% to 8-year highs appeared first on The Motley Fool Australia.

The Aeris Resources Ltd (ASX: AIS) share price is pushing higher today following the company's update in regards to its balance sheet.

At the time of writing, the mineral explorer's shares are swapping hands for 22 cents, up 4.76%.

It's worth noting that the Aeris share price is also within reach of breaking its multi-year high of 23 cents, which it hit in January 2021.

What did Aeris announce?

Investors appear pleased with the company's efforts to shore up its balance sheet, sending the Aeris share price higher.

According to the release, Aeris advised it has become debt-free, repaying US$20 million to clear the balance of its senior debt facility (Tranche A).

Since 2015, Aeris has been financed by Special Portfolio Opportunity V Limited (SPOV), a subsidiary of a fund managed by PAG.

In addition to that announcement, Aeris revealed that Australia and New Zealand Banking GrpLtd (ASX: ANZ) has entered arrangements to becomes its senior banker. As such, ANZ will provide a $35 million Contingent Instrument Facility, a $20 million Working Capital Facility and unsecured hedging lines for gold and FX.

Both the Contingent Instrument Facility and the Working Capital Facility are subject to an annual review. Aeris stated that the pricing and terms are competitive for these types of facilities.

The Contingent Instrument Facility will cover the company's environmental bonding and bank guarantee requirements. This releases $20 million that was held as collateral against bonding/guarantee obligations.

Following the final debt repayment and the release of $20 million in restricted cash, the net impact on the corporate cash balance is a reduction of $7 million.

Aeris executive chair, Andre Labuschagne commented:

When I started with Aeris at the end of 2012 we had almost US$150m in debt. Making this last repayment and finally being debt free is particularly satisfying.

We have had a long working relationship with ANZ, which has been further strengthened today as they now become our senior banker.

With a strong cash balance and financial flexibility, our focus is now to deliver on our development pipeline and aggressive exploration program planned for FY22.

About the Aeris share price

Shareholders will be celebrating the company's news today, further accelerating the Aeris share price to a near multi-year high. Since this time last year, the Aeris share price has gained 450%, with year-to-date growth of 100%.

Based on today's price, Aeris has a market capitalisation of roughly $468 million, with more than 2.2 billion shares on issue.

The post Why the Aeris (ASX:AIS) share price is nearing its multi-year high today appeared first on The Motley Fool Australia.

The Aeris Resources Ltd (ASX: AIS) share price is falling today, down 1.32%.

Below we take a look at the ASX resource share's latest exploration update.

What update did Aeris provide?

The Aeris Resources share price is moving lower after a market update on its exploration work in the Cobar region in New South Wales.

According to the release, Aeris' five-hole drill campaign at Canbelego extends the envelope of copper sulphide mineralisation both down dip and along strike.

While assays are still pending for three of the drill holes, the company said it had intersected several intervals of copper mineralisation in one diamond drill hole (CANDD005). This included "zones with visual estimates of between 1-3% copper sulphide (chalcopyrite) mineralisation".

However, Aeris Resources shares may be sliding after the company also reported that:

Continuation of the massive high-grade chalcopyrite shoots intersected in CANDD002 were not intersected within this complexly deformed and folded host sequence. Further interpretation and modelling is required to determine controls and potential extensions to the high-grade mineralisation, prior to further drilling.

The five diamond drill holes completed so far since the exploration campaign kicked off in April total 1,913 metres. The company says the assay results for the remaining holes are subject to a five to eight week laboratory turnaround time. This lag is being experienced across the entire sector.

Aeris Resources share price snapshot

Aeris Resources' share price has gained a remarkable 368% over the past 12 months. It has far outpaced the 22% gains posted by the All Ordinaries Index (ASX: XAO).

A sharply rising copper price has been among the tailwinds helping drive investor interest. One year ago, copper was trading for US$6,486 per tonne. Today that same tonne of the red metal is worth US$9,336, or 44% more.

Year to date the Aeris Resources share price has continued to outperform, up 70% so far in 2021.

Incidentally, Aeris' shares have gained 87% since 30 April.

The post Aeris Resources (ASX:AIS) share price slides on exploration update appeared first on The Motley Fool Australia.

The Aeris Resources Ltd (ASX: AIS) share price is jumping for joy. At the time of writing, shares in the mineral explorer are swapping hands for 19.75 cents each – up 9.72%.

The massive price rise comes after the company announced "tremendous" copper results from its mine in western New South Wales.

Let's take a closer look at today's results.

The Aeris share price is rising

In a statement to the ASX, Aeris Resources announced a series of "high grade" copper intersections at its Constellation deposit within its Tritton mine in NSW.

Highlights include:

• a 13m wide ore containing 8.64% copper.
• an 11m wide ore containing 8.63% copper.
• a 9m wide ore containing 8.20% copper, and
• an 11m wide ore containing 4.63% copper.

As well, Aeris declared more high-grade copper mineralisation near the surface, a positive indication for future exploration. Investors clearly believe so too judging by the rising Aeris share price.

Management commentary

Aeris Executive Chair Andre Labuschagne said:

The RC drill program has been a tremendous success. To say that the near surface drilling results at Constellation have surprised on the upside would be an understatement.

A number of the RC drill holes encountered excessive water and had to be discontinued whilst still in visible mineralisation. RC drilling has been suspended whilst we complete these holes with a diamond tail. This is expected to be completed in the next couple of weeks.

Copper commodity price

Copper is currently trading on the commodities market for US$4.36 per pound. It's up nearly 1% today, 2.1% this week, and 24.1% year-to-date.

According to the website Trading Economics, copper prices have slipped somewhat over the past 2 months as supply comes back online. The website says its relatively high price, however, is due to strong demand from sustained economic growth in the US.

Looking forward, Trading Economics says copper is forecast to rise to $5.00 per pound over the next 12 months.

Aeris share price snapshot

During the past 12 months, the Aeris share price has increased by 400%. Its current share price is only just off its 52-week high of 23 cents per share.

Aeris Resources has a market capitalisation of $434 million.

The post Why the Aeris (ASX:AIS) share price is jumping 10% appeared first on The Motley Fool Australia.

Inflation and interest rates have completely dominated ASX share market discussions the past few months.

Is post-COVID inflation just a fad or will it stick around? Will central banks lose their nerve and raise interest rates earlier than they've flagged?

This uncertainty is causing some anxiety.

But Montgomery Investment Management chief investment officer Roger Montgomery reckons he's picked out 3 small-cap ASX shares that will win regardless of macroeconomic conditions.

That is, these companies will enjoy growth because of structural reasons — their business models and the way they're placed in their sectors makes them unique and valued.

Here are Montgomery's picks:

Megaport Ltd (ASX: MP1)

Megaport allows computer networks to connect to cloud service providers.

According to Montgomery, the company currently facilitates access for 2,100 customers to reach 740 data centres globally.

Megaport shares closed Tuesday 1.22% higher at $18.20. They've gained almost 28% this year so far.

Montgomery reckons the next "catalyst" for a price spike will be the July quarterly update.

"We believe MP1 has a large growth opportunity in front of it, including from new products, an example being the recently launched Megaport Virtual Edge, which is being sold by the salesforce of Cisco Systems Inc (NASDAQ: CSCO),"  

"We expect the company to enjoy the tailwinds of rapid growth in cloud computing, which is a lowly penetrated market, offering multi-years of opportunity runway ahead."

Alliance Aviation Services Ltd (ASX: AQZ)

Montgomery had already identified Alliance Aviation's enviable market position back in April, but again reiterated the attractiveness of this ASX share.

Both the big players, Qantas Airways Limited (ASX: QAN) and Virgin Australia, wet lease planes from Alliance.

"Wet leases are agreements between 2 airlines, where the lessor agrees to provide an aircraft, crew, maintenance and insurance to the lessee in return for payment on the number of hours the aircraft is operated, irrespective of how many passengers are on the plane or the price they paid for their seat," said Montgomery. 

"Wet leases offer the lessee everything needed to begin flights on an almost immediate basis."

The company cleverly took advantage of the depressed aviation market last year, buying up 30 Embraer E190 planes for just $197 million.

"These prices are cents on the dollar of the original capital cost of the assets," Montgomery said.

"This is AQZ's key competitive advantage, great operational on-time performance from the lowest capital cost aircraft in the market."

Alliance shares closed slightly lower on Tuesday at $4.34. That's 13.02% up from the start of the year.

"We believe it is worth in excess of $5.00 per share."

Aeris Resources Ltd (ASX: AIS)

Copper is a theme that Montgomery thinks has a lot of merit currently.

"There has been a long-identified dearth of global copper discoveries and projects coming online, with mined grades continuing to fall as the easiest to find and cheapest to mine copper gets accessed and depleted," he said.

"Future supply growth for copper looks challenged, whilst the future demand — driven by incremental needs from decarbonising economies — looks strong."

Among the local copper producers, his pick is Aeris Resources.

The company recently raised $50 million to fund more drilling, and extend the working life of its Queensland Cracow Gold Mine and NSW Tritton Copper Project.

"The exciting story is this influx of capital has funded increased drilling activity at targets close to existing infrastructure," said Montgomery.

"High copper grades have been found near [the] surface, which could mean higher copper production, longer mine life, and cheaper extraction costs and potentially higher margins in a commodity that looks structurally attractive."

Aeris shares closed flat for the day on Tuesday at 18.5 cents. The stocks are up a whopping 85% this year.

"We have been an investor in AIS from 3 cents per share and assuming continued strong drilling results, we think 30 cents is not out of the realm of possibility."

The post 3 ASX shares that'll grow regardless of inflation or economy: expert appeared first on The Motley Fool Australia.