Many of Australia's top brokers have been busy adjusting their financial models again, leading to the release of a number of broker notes this week.

Three ASX shares brokers have named as buys this week are listed below. Here's why they are bullish on them:

ANZ Group Holdings Ltd (ASX: ANZ)

According to a note out of Citi, its analysts have retained their buy rating and $29.25 price target on this banking giant's shares. While the broker is positive on the banking sector, it is particularly positive on ANZ's outlook. So much so, the broker has made the bank its new top pick in the sector. Citi notes that this has been driven by the re-emergence of key structural tailwinds in the key Institutional division. The ANZ share price is fetching $23.89 on Wednesday.

Calix Ltd (ASX: CXL)

A note out of Bell Potter reveals that its analysts have retained their speculative buy rating and $9.00 price target on this environmental technology company's shares. The broker believes 2023 will be another catalyst-rich and important year for Calix. The broker also highlights the company's growing suite of applications which target global challenges, including decarbonisation of hard-to-abate industrial processes. The Calix share price is trading at $4.88 this afternoon.

Pilbara Minerals Ltd (ASX: PLS)

Another note out of Citi reveals that its analysts have upgraded this lithium miner's shares to a buy rating with a $4.70 price target. The broker made the move on valuation grounds after a significant pullback since November. The broker believes this correction is overdone, particularly given its belief that spot spodumene prices may hold at +US$7000 per tonne for longer than the market expects. The Pilbara Minerals share price is fetching $4.01 today.

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

The Pilbara Minerals Ltd (ASX: PLS) share price is edging higher on Monday morning.

At the time of writing, the lithium miner's shares are up 1.5% to $4.54.

Why is the Pilbara Minerals share price rising?

Today's gain appears to have been driven by the announcement of a joint venture with clean technology company Calix Ltd (ASX: CXL).

According to the release, Pilbara Minerals and Calix have executed a joint venture agreement for the development of a mid-stream demonstration plant at the Pilgangoora Project.

The demonstration plant has the aim of producing lithium salts via an "innovative midstream value added refining process" that utilises Calix's patented calcination technology.

Furthermore, the company notes that the objective of demonstration plant project is to deliver a superior value-added lithium product enabling lower product cost, reduced carbon energy intensity, and reduction of waste product logistics.

Pilbara Minerals will own 55% of the joint venture, with Calix owning the balance. Each party will be funding their share of operating and capital costs and Calix will license their patented technology and calcination knowhow into the joint venture.

Management also highlights that a successful demonstration of the calcination technology via the demonstration plant may then lead to its commercialisation with the joint venture licensing the technology to the global spodumene processing industry.

'A game changer'

Pilbara Minerals' managing director and CEO, Dale Henderson, commented:

It's a great privilege to enter this JV partnership with Calix. The Mid-stream project has the potential to be a game changer for our industry. If successful, we will be able to deliver a superior chemical intermediary product to market compared to spodumene concentrate.

This intermediate product offers a higher concentration in lithium and less impurities whilst being produced through a new process that reduces CO2 emissions compared to the traditional process route for hard rock spodumene chemical conversion. This is world-first Australian technology, being developed by two great Australian companies on Australian soil, with the support of the Australian Government – this is an exceptional opportunity for all of us.

Interestingly, unlike the Pilbara Minerals share price, the Calix share price is trading lower on the news.

The post Pilbara Minerals share price higher on 'game changer' project with Calix appeared first on The Motley Fool Australia.

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record another gain. At the time of writing, the benchmark index is up 0.6% to 7,223 points.

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

Calix Ltd (ASX: CXL)

The Calix share price is up 5% to $5.23. This morning the environmental technology company announced that it has signed an agreement with global building materials company, CEMEX. The two parties will work together to decarbonise the construction value chain through new Carbon Capture, Utilisation, and Storage (CCUS) projects.

Chalice Mining Ltd (ASX: CHN)

The Chalice Mining share price is up 6% to $4.94. Investors have been buying this mineral exploration company's shares following the release of a drilling update from the Julimar project. According to the release, recent drilling demonstrates the potential for material resource growth at Julimar, with several outstanding new intersections up to 650 metres beyond the current resource.

Qantas Airways Limited (ASX: QAN)

The Qantas share price is up 5% to $6.18. This morning the airline operator surprised the market with a guidance upgrade just over a month after last upgrading it. Management expects the airline to post an underlying profit before tax of between $1.35 billion and $1.45 billion for the half. This represents a $150 million increase to the guidance range given in October.

Whitehaven Coal Ltd (ASX: WHC)

The Whitehaven Coal share price has continued its positive run and is up a further 4.5% to $9.53. Investors have continued to buy coal miners on Wednesday. This may be on the belief that they are still cheap at current levels based on sky high coal prices. The Whitehaven Coal share price is up almost 250% in 2022.

The post Why Calix, Chalice Mining, Qantas, and Whitehaven Coal shares are rising appeared first on The Motley Fool Australia.

Despite the central banks in Australia and the US raising interest rates this week, more than one expert is predicting share markets will rise heading into the new year.

Shaw and Partners portfolio manager James Gerrish noted that the S&P/ASX 200 Index (ASX: XJO) is now within striking distance of the psychological 7,000-point barrier.

"The 'risk on' theme is slowly gathering momentum courtesy of fund managers holding their highest cash position in more than 20 years," he said in the Market Matters newsletter.

"There's nobody left to sell, and a degree of 'fear of missing out' (FOMO) feels inevitable if stocks remain firm."

Gerrish's team is aiming for a Santa rally to push the index up to 7,200 by Christmas.

"That is now only 3% away, hence I remind subscribers of our caveat that surprises are likely to be on the upside."

So considering this bullish outlook, what are the best stocks to take advantage?

Gerrish named one example each from his growth, income, and emerging companies portfolios:

All-time high share price within reach

Funnily enough, National Australia Bank Ltd (ASX: NAB) is the pick from Gerrish's growth stable.

The team believes NAB and its big bank mates will all rally through November with three of the four expected to pay massive fully franked dividends.

"NAB is set to report in a week's time and we believe it will perform strongly," he said.

"Even though they are experiencing below-sector growth in total mortgage and business lending, this is a time to be prudent. It's forecasted to pay an 82c fully franked dividend on the 16th."

Believe it or not, NAB's all-time high was 15 years ago, when the share price breached the $40 mark.

Gerrish's team is targeting the bank stock to set a new all-time high.

"However we do caution that we are only looking for a 5% to 10% move plus a dividend making it a very active play from here."

Not just a boring infrastructure stock

Among the income producers, Gerrish likes toll operator Transurban Group (ASX: TCL).

"On face value, the toll road operator is a solid defensive stock, offering a reasonable ~4%, largely unfranked yield while their high levels of debt are seen as a risk in this sort of interest rate environment," he said.

"However, there is more to this story which underpins our positive view on the stock."

New assets like Sydney's WestConnex stage 2 and NorthConnex will drive 8.5% annual growth in earnings and dividends over the coming five years, according to Gerrish.

"This is also supported by revenue linked to CPI, which as we all know is running hot, along with expected capital releases, which will also support dividend growth over the coming years."

He forecasts that, by financial year 2024, the dividend yield will be above pre-COVID levels, then "rise steadily from there".

The Market Matters team is bullish on Transurban shares for the long run.

One door closes, 60 more open

Carbon capture technology provider Calix Ltd (ASX: CXL) is the favoured pick from Gerrish's emerging companies portfolio.

Horrifyingly, the stock has halved in value since Easter.

Just in the past week, Calix shares lost more than 22% after the federal government withdrew $41 million of funding for its projects with Boral Limited (ASX: BLD) and Adbri Ltd (ASX: ABC).

"The company was hugely disappointed with the news… particularly given it came just a few days after a federal budget which promised spending on green initiatives with an explicit focus on cement," said Gerrish.

"Despite the news, Calix noted that both Boral and Adbri had firm commitments to reduce carbon emissions by 2030, and will need to act now to hit their targets, with the company confident it remains part of this plan."

Calix has stated its services have considerable global interest, with more than 60 projects underway that are in total worth far more than the lost government funding.

Calix shares closed Wednesday at $4.27. Gerrish's team remains bullish about the stock if it can be purchased around that price.

The post 3 'bullish' ASX shares to buy as FOMO grips the market: expert appeared first on The Motley Fool Australia.

In afternoon trade, the environmental technology company's shares are down 9% to a 52-week low of $4.04.

This means the Calix share price is down 26% over the last two trading sessions.

Why is the Calix share price crashing?

Investors have been hitting the sell button since Calix announced that the Federal Government has withdrawn some major funding for a couple of projects.

According to the release, following the Budget, AusIndustry informed Calix that $11 million in grant funding announced by the former Government would be cancelled. These funds were going to support Calix's project with Adbri Ltd (ASX: ABC) to develop low emissions lime.

But it gets worse. Building materials company Boral Limited (ASX: BLD) has advised Calix that another $30 million in grant funding from the former Government has also been cancelled. These funds were going to be use for a Carbon Capture, Use and Storage (CCUS) project utilising Calix's cement and lime decarbonisation technology.

One small positive, which hasn't been enough to keep the Calix share price from sinking, is that the current Federal Government has announced that it will be implementing a new Carbon Capture Technologies program. This will see the government provide $141.1 million over ten years as part of a realignment of investment in carbon capture technologies. Though, there's no guarantee that Calix will receive any of this funding.

Is this a buying opportunity?

One broker that remains cautiously optimistic on the company is Shaw & Partners.

This morning the broker retained its buy rating but slashed its price target by 29% to $6.00. Based on the current Calix share price, this implies potential upside of almost 50% for investors over the next 12 months.

Shaw & Partners recently was the co-manager of Calix's capital raising that raised $60 million via an institutional placement.

The post Why is the Calix share price stooping to a new 12-month low on Monday? 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:

Brainchip Holdings Ltd (ASX: BRN)

The Brainchip share price is down 20% to 68 cents following the release of a dismal third quarter update. The struggling semiconductor company, which was valued at $1.5 billion prior to today, reported cash receipts of just $118,000 for the three months. Based on this quarterly performance, investors appear concerned that this meme stock could have developed a product that nobody wants.

Calix Ltd (ASX: CXL)

The Calix share price is down 18% to $4.50. This morning this environment technology company revealed that the Australian government has withdrawn previously announced grant funding. A total of $41 million earmarked for projects has been cancelled by the government.

Fortescue Metals Group Limited (ASX: FMG)

The Fortescue share price is down 8% to $14.75. Investors have been selling this mining giant's shares following a sharp pullback in the iron ore price overnight. In addition, this morning the team at Bell Potter downgraded the company's shares to a sell rating and cut its price target by ~19% to $14.09. The broker said: "We downgrade our recommendation to Sell, largely on the impact of the increased FFI investment commitment."

ResMed Inc (ASX: RMD)

The ResMed share price is down almost 6% to $33.73. This follows the release of the medical device company's first quarter update. ResMed delivered a 5% (9% constant currency) increase in revenue to US$950.3 million but flat net income of US$222.1 million (on a non-GAAP basis). While it achieved Goldman Sachs' estimates on the top line, it missed on the bottom line.

The post Why Brainchip, Calix, Fortescue, and ResMed shares are sinking appeared first on The Motley Fool Australia.

The Calix Ltd (ASX: CXL) share price is deep in a sea of red on Friday, plunging 18% to an intraday low of $4.30 near the open.

Shares in the environmental technology company have clawed back some ground and are currently swapping hands at $4.62, still 15.7% lower than the company's closing price of $5.48 yesterday.

Calix has plunged alongside the materials sector, which is currently the worst-performing sector in the ASX by a substantial margin.

The S&P/ASX 200 Materials Index (ASX: XMJ) is down 3.37%, while the S&P/ASX 200 Index (ASX: XJO) is now fielding a 0.47% loss. The All Ordinaries (ASX: XAO) is down with a 0.58% loss.

It shouldn't be surprising then that Calix is not the only materials share that's taking a beating. Sector peers such as Bellevue Gold Ltd (ASX: BGL) and Jervois Global Ltd (ASX: JRV) are down 3.25% and 4.42% respectively.

But why is the Calix share price falling further than its peers on Friday? One likely explanation is that it made a negative announcement to the market this morning. Let's cover what happened.

Government withdraws carbon capture technology program

Calix has been informed that the Federal Government will not proceed with its previously announced carbon capture, use and storage (CCUS) hubs and technologies program.

The initiative was first revealed as part of the Federal budget on 25 October, and Calix was due to receive $11 million in funding, which has now been cancelled.

The funds were earmarked for a joint project between Calix and Adbri Ltd (ASX: ABC) to develop low-emissions lime.

However, the Government is due to open a new carbon capture technologies program in 2023, and will reportedly allocate $141.1 million in grants over ten years to projects that support this effort.

Calix said it was waiting on more details from the government about this program while also pursuing alternative forms of government funding at regional and state levels.

What did management say?

Responding to the news, Calix managing director and CEO Phil Hodgson said:

Calix acknowledges our partners for their commitment to achieving carbon neutral cement and lime. We are also grateful for the Australian Government's support of carbon capture and storage technologies for cement and lime, which is an essential technology to mitigate the unavoidable production of CO2 during the cement and lime manufacturing process.

Hodgson continued:

We believe the Leilac technology can also play an important role in urgently decarbonising this essential and hard-to-abate sector of the Australian economy. We look forward to continuing to work with Australian governments and industry to help achieve Australia's emissions reduction targets.

Calix share price snapshot

The Calix share price is down 33.46% year to date. In comparison, the S&P/ASX 200 Index has lost 8.64% over the same period.

The company's market capitalisation is around $1.02 billion.

The post Why did this ASX All Ordinaries share crash 18% today? appeared first on The Motley Fool Australia.

The S&P/ASX 300 Index (ASX: XKO) is posting a modest gain on Wednesday, helped along by three shares that call the index home.

They've gained as much as 11.7% today amid, ahead of, and exclusive of, exciting announcements.

Meanwhile, the ASX 300 is up 0.27% at 6,794.4 points right now.

Let's take a look at what's driving them to outperform the iconic index this afternoon.

These 3 ASX 300 shares are taking off today

Among the top-performing ASX 300 shares today is Costa Group Holdings Ltd (ASX: CGC). The stock is rocketing 11.68% at the time of writing to trade at $2.49.

Its gains come on the back of news its historical parent company, Paine Schwartz Food, which spun Costa out in 2015, has bought a sizable chunk of its shares.

The private equity firm snapped up a 13.78% stake in Costa overnight, paying an average price of around $2.51 per share, as my Fool colleague James reports.

There's yet to be any clue as to whether the firm might attempt to further increase its stake or make a play for the company.

Another ASX 300 share taking off on Wednesday is Vulcan Energy Resources Ltd (ASX: VUL). Right now, its stock is up 5.24%, trading at $7.23.

Interestingly, there's been no word from the lithium developer – yet.

The company is expected to release its activities and cashflow report for the September quarter tomorrow. No doubt, all eyes will be on the stock on Thursday morning.

Finally, the Calix Ltd (ASX: CXL) share price is helping to buoy the ASX 300 despite the company's silence. It's soared 3.43% to trade at $5.73 at the time of writing.

While there's been no word from the environmental technology stock today, it did open a $20 million share purchase plan, expected to issue new shares for $4.55 apiece, yesterday.  

It follows a $60 million capital raise the company undertook last week.

The post 3 ASX 300 shares off to the races on Wednesday appeared first on The Motley Fool Australia.

The Calix Ltd (ASX: CXL) share price is frozen after the company requested a trading halt this morning.

The Australian environmental technology company has since announced a global licence agreement with one of the world's largest building materials companies, Heidelberg Materials (FWB: HEI).

Calix is also launching a $60 million institutional equity raising. It will also run a share purchase plan (SPP) for ordinary ASX investors to raise up to another $20 million.

Calix will use the funds to accelerate the commercialisation of its technology for industrial decarbonisation.

This will include further work with Pilbara Minerals Ltd (ASX: PLS).

Licence the 'first of its kind'

Calix said in a statement that the technology licence fee is a first-of-a-kind for the industry.

It comprises a royalty floor, a variable component linked to carbon price/value, and a royalty cap linked to costs versus alternative technologies.

As we've reported before, a bunch of Australian companies, including miners, have been trialling Calix technology to decarbonise their minerals.

The technology centres around a kiln developed by the Calix founder that can extract substantial amounts of carbon dioxide from metals and minerals. Additionally, Calix can adapt the kiln to work with various materials.

Calix has a 93% owned subsidiary, Leilac, that focuses on the decarbonisation of cement and lime. It's Leilac that has signed the deal with Heidelberg Materials.

The licence applies to any Heidelberg Materials facility where the Leilac technology is installed.

Heidelberg Materials operates 149 cement plants across five continents.

Calix said:

Cement and lime are amongst the largest industrial contributors to climate change, accounting
for roughly 8% of global CO2 emissions.

The agreement with Heidelberg Materials is a key milestone in Calix's commercialisation of the Leilac technology, and Calix's strategy to develop great businesses that deliver positive global impact.

Why is Calix raising capital?

The capital raising will take the form of a fully underwritten institutional placement to raise $60 million. It will comprise the issuance of 13.2 million shares at an issue price of $4.55 per share.

The Calix share price is currently in the freezer at $5.12.

There will also be a non-underwritten SPP to raise up to an additional $20 million.

Calix said the placement and SPP will "accelerate commercialisation of the Calix technology platform and
enable rapid further technology development targeted at significant strategic market opportunities".

The company elaborated further:

Specifically, proceeds from the Placement will be applied to accelerate commercialisation of Leilac's cement and lime decarbonisation technology; construct a lithium salt demonstration processing plant in JV with Pilbara Minerals; and fund a FEED study for a ZESTY Green Iron demonstration plant.

Calix has released an investor presentation this morning.

Calix share price snapshot

The Calix share price is down 21.5% year to date.

Over five years, the company's shares are up more than 700%.

The post Why is the Calix share price frozen on Wednesday? (Hint: it involves Pilbara Minerals) appeared first on The Motley Fool Australia.

The S&P/ASX 300 Index (ASX: XKO) finished up 0.52% to 6,987.6 points on Wednesday.

Earnings season continued with several companies reporting their FY22 or CY22 results today.

Here are the highlights from the earnings reports of these three ASX 300 companies.

Spark New Zealand Ltd (ASX: SPK)

The Spark New Zealand share price finished up 1.9% to $4.83 on Wednesday. The company reported its 2H FY22 earnings, claiming growth in its revenue, EBITDA, and net profit after tax (NPAT) in FY22.

Spark revealed it was increasing its total dividends for the first time since 2016. The ASX 300 share will deliver 25 NZ cents per share in dividends for FY22, with guidance of 27 cents for FY23.

ASX shareholders will receive a final dividend of 14.7 NZ cents per share. The total dividends will be 29.4 NZ cents per share. On today's currency conversion, this equates to 13 cents and 26.6 cents per share respectively.

Spark chair Justine Smyth said:

In a year marked by ongoing Covid-19 disruption and increasing economic volatility, Spark has delivered an incredibly strong result, returning to revenue growth and delivering earnings at the top end of guidance.

Spark's transition from its traditional telecommunications heritage to a more diversified and higher growth digital services provider continues at pace.

As we look to FY23 we have confidence in Spark's ability to grow free cash flow to ~$460-$500 million to fund our ordinary dividend.

Calix Ltd (ASX: CXL)

The Calix share price closed at $6.92, up 4.85% today.

In its FY22 full-year preliminary results, Calix revealed that product revenue dipped 4% to $18.47 million. Total revenue fell by 30% to $20.8 million. It reported a loss of ($12.14 million).

As at 30 June, Calix has $25 million in cash and cash equivalents, up from $15.1 million in FY21. It has a surplus of $16.5 million in total current assets over total current liabilities, up from $15.3 million in FY21.

This ASX 300 share is a technology developer seeking to deliver sustainability solutions for industries.

As we reported recently, the company has developed a kiln capable of decarbonising metals and minerals. The kiln can extract substantial amounts of carbon dioxide to potentially create products such as low-carbon iron ore.

G8 Education Ltd (ASX: GEM)

The G8 Education share price closed the session on Wednesday at $1, up 3.09% for the day. Earlier, the company reported its CY22 half-year earnings.

The childcare operator reported an operating EBIT (earnings before interest and taxes) of $21 million (after lease expenses) for 1H CY22. This is 85% lower than the prior corresponding period (pcp) of H1 CY21.

The company said it was "significantly impacted in Q1 by COVID-19 and floods but recovered in Q2 with 'core' centres delivering higher EBIT than pcp".

Once the impact subsided, the company's strategic improvement program helped create "solid performance in quality, occupancy and profitability".

G8 Education embarked on a cost reduction program in Q2 CY22, with $2.8 million in costs removed in 1H CY22. It says it is now "on track to deliver targeted $13 million-$15 million cost reduction to streamline the business and mitigate inflationary impacts" by the end of 2H CY22.

The company said its balance sheet "remains strong" with net debt at $86.3 million as of 30 June. This is "in line with expectations and reflecting the capital management initiatives and seasonal cash flow profile".

The post 3 ASX 300 shares that climbed higher on earnings updates today appeared first on The Motley Fool Australia.

The Calix Ltd (ASX: CXL) share price is 2.2% higher at the time of writing to trade at $5.58.

The price boost for this small-cap ASX share comes as the Calix founder discusses his patented kiln, which is currently being trialled by some mining companies to create low-carbon or 'green iron'.

What does Calix do?

Calix is an Aussie company that has developed a kiln capable of extracting substantial amounts of carbon dioxide from metals and minerals.

The company was founded in 2005 by its chief scientist Dr Mark Sceats and the late Connor Horley. Dr Sceats invented the kiln.

According to an article in the Australian Financial Review (AFR) today, Sceats hopes his kiln technology will be used across many industries to help the world decarbonise.

The kiln enables metals and minerals companies to decarbonise the stuff they dig out of the ground.

This includes being able to create low-carbon iron ore, which could then be turned into low-carbon steel. Game changer.

Mining companies trialling Calix technology

The kiln that Sceats invented has already proven itself in Europe's cement industry. It can extract 95% of the carbon dioxide in cement.

According to the article, Sceats has spent the past year adapting his kiln technology for iron ore processing.

The article states: "Dr Sceats, 73, has spent the past year focused on developing a low-carbon, affordable method for removing the oxygen from iron ore in the hope that he can help Australia's biggest export industry start selling "green iron" rather than iron ore."

In an interview on the Tech Zero podcast, Sceats declined to say which mining companies were trying his kiln out in current green iron trials.

But the AFR points out that Rio Tinto Limited (ASX: RIO) and Fortescue Metals Group Limited (ASX: FMG) have publicly said they want to sell more green iron to reduce their customers' scope three emissions when they heat the iron ore to make steel.

'Enormous' opportunity

Sceats has also adapted the kiln technology for other industries, including lithium mining, agriculture, and water treatment. But he says the massive global iron ore and steel industries potentially present Calix's biggest opportunity.

Sceats said: "It's enormous. It's got too many zeroes after it for me to make any sense of it at all."

Dr Sceats's kiln requires less expensive fuel for combustion and is able to use renewable energy to create heat. The kiln also provides better control over that heat to ensure maximum carbon dioxide extraction.

The kiln essentially heats minerals to their exact unique temperature at which gases escape. This escape makes the remaining mineral substance purer, while the extracted oxygen turns into harmless steam.

Australia could make its own steel

Sceats told Tech Zero that he could imagine an electric arc steel furnace in every major iron ore mining town in Australia by 2050.

Sceats said: "There is no impediment to Australia making steel, really. Shipping is going up, so the cost of transporting ores throughout the world is going up. Why not make the product here? The skills are here."

What else is happening at Calix?

The most recent price-sensitive news from Calix came on 1 June when Pilbara Minerals Ltd (ASX: PLS) announced that key commercial terms had been agreed for a joint venture.

The JV involves the development of a demonstration plant and potential future commercialisation of Calix's technology for lithium refining processes at Pilbara's Pilgangoora Project.

The Federal Government awarded them a $20 million Modern Manufacturing Initiative Grant to help fund the project.

Pilbara Minerals Managing Director and CEO, Ken Brinsden, said their common goal was "to further decarbonise lithium raw material supply chains".

Calix share price snapshot

The Calix share price has risen by more than 75% over the past 12 months.

In 2022, the share price is down 14.3%.

The post 'Enormous opportunity': Calix share price lifts as founder flaunts decarbonising technology 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 charging higher:

Aristocrat Leisure Limited (ASX: ALL)

The Aristocrat share price is up 5.5% to $33.34. Investors have been buying this gaming technology company's shares after its half-year results impressed. Aristocrat reported a 23.1% increase in operating revenue to $2,745.4 million and a 40.9% increase in NPATA to $580.1 million. The latter was well ahead of the consensus estimate of $523 million. Another positive was that Aristocrat has announced a $500 million on-market share buyback.

Arafura Resources Limited (ASX: ARU)

The Arafura share price is up 16% to 40.5 cents. This follows news that the rare earth developer has signed a non-binding memorandum of understanding (MoU) with one of the world's largest automotive groups, Hyundai. The MoU provides a framework for the parties to negotiate a binding offtake agreement for the supply of up to approximately 1,000 to 1,500 tonnes per annum (tpa) of NdPr Oxide from the Nolans Project. The top end of the range represents over a third of its planned production.

Calix Ltd (ASX: CXL)

The Calix share price is up over 5% to $7.41. This morning the clean energy solutions company revealed that it will receive $11 million from the government's carbon capture, use, and storage (CCUS) hubs and technologies program to bring low emissions lime production to Adbri Ltd (ASX: ABC).

Strike Energy Ltd (ASX: STX)

The Strike Energy share price is up 4% to 31.7 cents. Investors have been buying this energy company's shares after it announced the completion of its competitive fertiliser offtake process. This has seen the company sign a non-binding term sheet and exclusive negotiation period with Koch Fertilizer. Strike expects to produce 1.4 million tonnes per annum of granulated urea from its proposed Project Haber fertiliser development.

The post Why Aristocrat, Arafura, Calix, and Strike Energy shares are charging higher appeared first on The Motley Fool Australia.

The Calix Ltd (ASX: CXL) share price is swinging between red and green today after the company landed another chunk of funding. Amid the payday news, investors are undecided on which direction to take in the green technology developer.

At the time of writing, Calix shares are up 0.28% at $7.05, having earlier sunk as low as $6.75. The positive move stands out among a sea of red on Thursday as the S&P/ASX 200 Index (ASX: XJO) nosedived in sympathy to a bloody session on Wall Street last night.

Let's take a closer look at the news keeping Calix's head above water today.

Money rains down for green tech

Only a few days ago, it was revealed that Calix would be receiving government funding in partnership with Boral Limited (ASX: BLD) to help reduce the materials company's emissions. That grant was worth $30 million.

However, today involves a different materials company and a different amount of funding. Though, the reason for the latest government grant is quite similar.

According to the release, Calix will receive $11 million from the government's carbon capture, use, and storage (CCUS) hubs and technologies program to bring low emissions lime production to Adbri Ltd (ASX: ABC). The additional government funding bodes well for the Calix share price.

Much like with Boral, the funding is intended to go towards developing a low emissions lime kiln using Calix's 'low emissions intensity lime and cement' (LEILAC) technology. When constructed, the proposed plant in Kwinana, Western Australia, would be the world's first commercial-scale low emissions lime production.

Commenting on the announcement, Calix managing director and CEO Phil Hodgson said:

A few years ago, I doubted a world-first commercial scale application of our technology would have been built in Australia, and as a result our efforts were concentrated offshore. However, with the support of the Federal Government and the Technology Investment Roadmap, the HILT-CRC, and companies such as Adbri, who are now starting to lead low emissions efforts, it is now a reality.

Additionally, the company confirmed this morning that it has received $5.19 million as part of the Federal Government's research and development tax incentive.

How has the Calix share price performed?

The Calix share price has been outperforming the broader ASX 200 so far this year. Whether this is a byproduct of increased investor interest as emission reduction becomes more topical, or a consequence of several government grants, the situation is a positive for Calix shareholders.

Since the start of the year, shares in the company have returned almost 9%. Meanwhile, the ASX 200 is down nearly 7% — representing an outperformance of 16%.

The post Calix share price bounces about on $16 million payday appeared first on The Motley Fool Australia.

Shares of Calix Ltd (ASX: CXL) are worming their way higher on Tuesday and are now trading 5.86% higher from the open. At the time of writing, the Calix share price is $7.04. Earlier it soared to $7.22, its highest mark in the past five days of trading.

In wider market moves, the S&P/ASX 300 Metals & Mining Index (ASX: XMM) has also spiked more than 1% into the green.

What's up with the Calix share price?

Investors might be bidding up the Calix share price in response to a company announcement this morning.

Calix advised that it and project partner Pilbara Minerals Ltd (ASX: PLS) have been awarded a $20 million grant from the Australian Government under the Modern Manufacturing Initiative (MMI).

This will be used to support the further development and demonstration of the proposed Mid-Stream Project at the Pilgangoora lithium project in Western Australia.

The release said: "Grant funding will be used as part of a joint venture (JV) to be entered into between Pilbara Minerals and Calix for the progression of a demonstration-scale chemicals facility at the Pilgangoora Project — with the aim of producing lithium salts for global distribution via an innovative midstream 'value-added' refining process."

Speaking on the announcement that is likely fuelling the Calix share price today, managing director Phil Hodgson said the company was "very grateful" for the $20 million grant. He added:

This world-first project aims to develop a low carbon process for lithium salt production into a rapidly growing market that is increasingly demanding more sustainable practices.

The Calix and Pilbara Minerals teams are working very well together on this joint development and we look forward to progressing this important technology.

What's next for Calix?

Both parties are reportedly hoping to finalise the JV agreement by "early Q3 2022", prompting a final investment decision in late 2022 or early 2023.

In the last 12 months, the Calix share price has spiked 184%. It has also gained 6% this year to date.

The post Here's why the Calix share price is leaping 6% on Tuesday appeared first on The Motley Fool Australia.

The future of Boral Limited (ASX: BLD) shares could be unfolding as the company continues down one of five avenues outlined for its journey towards net zero.

The S&P/ASX 200 Index (ASX: XJO) building products manufacturer has been granted $30 million for a carbon capture, use, and storage (CCUS) project at its New South Wales cement and lime facilities.

Today's news of the grant – offered by the Australian Government's CCUS Hubs and Technologies Program – was announced by the company's partner on the project, Calix Ltd (ASX: CXL).

At the time of writing, the Boral share price is $3.33, 1.52% higher than its previous close. For context, the ASX 200 is currently up 0.88%.

Let's look closer at the latest on the building and construction materials producer's pathway to net-zero emissions.

Boral granted $30m for CCUS project

Own Boral shares? You likely know the company is planning to reach net-zero emissions by 2050.

And one of the five pillars the company is using to support its climate targets is emerging CCUS technologies.

That's good news for Calix. Boral has been granted $30 million to use the environmental technology company's low emissions intensity lime and cement (LEILAC) technology at its NSW-based facility.

The project aims to use the technology to target 100,000 tonnes of carbon each year. It will also look into using renewable energy sources and alternative fuels to further reduce emissions.

As a result, Boral could end up producing true zero-carbon lime and cement at the facility.

Boral chief operating officer Darren Schulz commented on today's news:

This is game changing technology for our industry and will play a critical role in supporting customers' sustainability targets.

Boral share price snapshot

Despite today's uptick, the Boral share price is trading considerably lower year to date.

It has tumbled 46% since the start of 2022, while the ASX 200 has slumped 6%.

The stock has also fallen 51% over the last 12 months. Meanwhile, the index has gained 1%.

The post Boral share price climbs amid 'game changing' carbon project appeared first on The Motley Fool Australia.

Today is Earth Day, which gives heightened attention to the world's environmental threats. For this reason, we are taking a look at two ASX All Ords shares that are striving to make a positive impact on the planet.

For those investors feeling a little less altruistic, don't worry, the following companies have also provided big returns in the past 12 months. You might be surprised by how green these ASX shares have been.

Without further ado, here are two companies that are living proof being green can also reward shareholders.

Keeping the green dream alive in the ASX All Ords

Calix Ltd (ASX: CXL)

Although Calix is probably not a share in the S&P/ASX All Ordinaries (ASX: XAO) that is heard of frequently, its efforts in the decarbonisation industry are notable.

Leading with innovation, the Australian company is mostly recognised for its developments in calcination technology. This includes Calix's 'LEILAC' or Low Emissions Intensity Lime and Cement project — which seeks to drastically reduce carbon dioxide emissions in the cement and lime production industry.

Additionally, Calix is working with lithium miner Pilbara Minerals Ltd (ASX: PLS) to use the same technology to improve the sustainability of lithium production.

While the company's revenues are relatively modest for its market capitalisation, investors have been getting excited about future prospects. This has fuelled an incredible performance for the Calix share price over the last year, rising 301%. That makes this green aspirant the ninth-best performing share in the ASX All Ords index over the 12-month timeframe.

Neometals Ltd (ASX: NMT)

While compact lithium-ion batteries promise a more electric future, fears have arisen over the years that the life cycle has not been thoroughly thought out. Already, the CSIRO is projecting more than 100,000 tonnes of lithium-ion battery waste in Australia by 2036.

To combat this, Neometals has developed a sustainable battery recycling process. On 28 March, the company announced the opening of a lithium-ion battery recycling facility in Hilchenbach, Germany. At capacity, the plant will process 10 tonnes of battery material per day.

Today, this ASX All Ords company received the necessary German operating permit to commence operations. Additionally, Neometals has plans to create larger versions of this technology pending further studies.

Finally, shareholders of Neometals have enjoyed market-beating returns in the last year. Shares in the battery recycler have surged 270%. Meanwhile, the S&P/ASX 200 Index (ASX: XJO) is up a mere 5.8% during this time.

The post 2 ASX All Ords shares helping the planet and the back pocket appeared first on The Motley Fool Australia.

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

Block Inc (ASX: SQ2)

The Block share price is up 7% to $187.50. This follows a similarly strong gain by its NYSE listed shares during overnight trade on Wall Street. The payments giant's stormed higher amid a rally in the US tech sector and a bullish broker note out of Mizuho. The latter saw the broker increase its price target on the company's US shares to US$190. Mizuho notes that Blocks's CashApp product is growing in popularity with teenagers.

Calix Ltd (ASX: CXL)

The Calix share price has jumped 16% to $8.07. This follows news that the environmental technology company's LEILAC-2 project has passed the financial investment decision (FID) milestone. It will be integrated into HeidelbergCement's operational plant in Hannover, Germany, and will aim to address the plant's unavoidable emissions.

Carnarvon Energy Ltd (ASX: CVN)

The Carnarvon Energy share price is up 11.5% to 35.7 cents. Investors have been buying this energy company's shares today after it revealed a material oil discovery at the Pavo-1 well. The Pavo-1 well is part of the WA-438-P exploration permit, which Carnarvon Energy has a 30% interest in. The release notes that light oil was recovered from excellent reservoirs.

Imugene Limited (ASX: IMU)

The Imugene share price has stormed 10% higher to 28.7 cents. This morning the biotech revealed that it has received Western Institutional Review Board approval to start a phase one clinical trial of a new cancer treatment. Imugene will look into the use of its oncolytic virotherapy candidate, Vaxinia, on multiple solid tumours.

The post Why Block, Calix, Carnarvon, and Imugene shares are racing higher appeared first on The Motley Fool Australia.

In afternoon trade, the environmental technology company's shares are up 12% to $7.79.

Why is the Calix share price shooting higher?

Investors have been bidding the Calix share price higher today in response to an announcement relating to the company's LEILAC-2 project.

According to the release, the LEILAC-2 project has passed the financial investment decision (FID) milestone.

This will see Calix build a plant capable of capturing 20% of a cement plant's CO2 at very low cost. It will be integrated into HeidelbergCement's operational plant in Hannover, Germany, which will be the first-of-a-kind modular retrofit, aiming to address a cement plant's unavoidable emissions.

The release notes that the FID milestone has been achieved despite the complications arising from the global pandemic and Russia's invasion of Ukraine. Management will now proceed with the detailed design and expects to commence construction in 2023. Though, it warns that there remain key project risk flag points prior to purchasing major components, given the market situation.

What is LEILAC?

LEILAC is an acronym for Low Emissions Intensity Lime and Cement. It has been designed to enable a green and just transition to a low-carbon future with the objective of strengthening local industry and maximising the use of local resources – while addressing climate change.

Calix aims to demonstrate, at industrial scale, a breakthrough technology that can capture a cement or lime plant's unavoidable process emissions for minimal cost, which provides a viable and effective decarbonisation solution. The LEILAC-2 plant is being designed to capture 100ktpa of CO2.

Calix's MD, CEO and Chairman, Phil Hodgson, commented: "The positive FID decision marks a significant milestone and further demonstrates the momentum which is building around the LEILAC-2 project. The completion of the FEED has been achieved despite the challenging circumstances and is a testament to the strong level of collaboration which has been cultivated between the consortium partners, who have all worked together to make significant progress on this breakthrough project."

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In morning trade, the environmental technology company's shares are up 4% to $6.51.

This means the Calix share price is now up approximately 225% since this time last year.

Why is the Calix share price storming higher?

Investors have been bidding the Calix share price higher today following the release of a positive announcement.

According to the release, Calix has received Australian Pesticides and Veterinary Medicines Authority (APVMA) approval for its safe, environmentally friendly crop protection product, Booster-Mag. This comes just over two years after it first submitted an application for Booster-Mag as a non-lethal insecticide for the suppression of two-spotted mite in tomatoes and field and protected crops.

Though, its journey started long before that. Management advised that the registration of Booster-Mag is the culmination of six years of scientifically rigorous product and application development.

Furthermore, it highlights that Booster-Mag is the first registration of a magnesium hydroxide insecticide in the world, which opens it up to a sizeable market opportunity.

What's next?

Management will initially focus on the suppression of two spotted mite in tomato and cucurbit crops, which present an addressable market opportunity estimated at 16,000 hectares in Australia. It notes that both tomato and cucurbit crops are vulnerable to insect pests and disease and, as such, conventional pesticides are critical.

But it doesn't stop there. The company is part of several larger field trials overseas where other types of crops and applications, such as anti-fungi, are being evaluated. These could extend its addressable market to an estimated 500,000 hectares.

In order to reach these markets, Calix is now developing commercial relationships with specialist global crop protection companies with the expertise and capability to fully utilise Calix's material bioactivity.

The post Here's why the Calix (ASX:CXL) share price is storming higher today appeared first on The Motley Fool Australia.

The environmental technology company's shares ended the day 11% higher at $5.67 after investors responded positively to its half year results.

Calix share price surges higher following results

• Total sales revenue grew 6.5% to $9.8 million
• US gross margins improved from 31.4% to 36.4%
• Operating loss of $5.2 million
• Loss after tax of $7.5 million
• Cash balance of $26.3 million with a further $8 million in grant income to come

Management commentary

Calix's Managing Director and CEO, Phil Hodgson, commented: "FY22 is the year we accelerated on technology development, given the growing tailwinds that have transformed the financial markets since early 2021."

"As a result, we have invested aggressively in people, capital and external expertise. This is starting to pay off. The investment by Carbon Direct into our cement de-carbonisation technology in September ratified this strategy, providing look-through value into just one arm of our business. The opportunities continue to build across all our lines of business, and we are well resourced and positioned to capitalise on them," he added.

Outlook

No guidance was given for the second half. However, management has provided the market with its plans for the half and beyond.

It said: "The Company will continue working towards the FY22 targets across each line of business. Particularly, with a rapidly growing pipeline of opportunities in the CO2 and sustainable processing business, there is significant potential to convert existing relationships into licensing / project agreements, which Calix anticipates reporting in the near term."

Management also provided an update on a scoping study that was undertaken with Pilbara Minerals Ltd (ASX: PLS) to assess Calix's renewably powered technology as part of a local lithium salt production process.

The results from the scoping study remain subject to both the Calix and Pilbara Minerals' Boards' approvals to proceed further, possibly with an even higher capacity plant than first considered. Planning for the full hydro-metallurgical pilot trials is underway, and discussions on a joint venture between the parties to commercialise the process are on-going in parallel to the technical development work.

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