The Murray River Organics Pty Ltd (ASX: MRG) share price was trading more than 3% higher at 31 cents when the market closed today.

Shares in the food producer share price rose after the company announced it was selling one of its properties and appointing a new CEO.

Today share price lift compared well against the 0.8% drop in the S&P/ASX All Ordinaries Index.

Let's take a closer look at what's driving the Murray River Group share price.

CEO appointment

The company advised that interim chief executive officer Birol Akdogan has been appointed its new CEO.

Mr Akdogan has also spent time in the position of group chief financial officer. Before his employment at Murray River Group, he held positions as CFO at Ansell Limited (ASX: ANN) and CPI Group.

Commenting on the appointment, Murray River Group chair Andrew Monk said:

We believe that Birol has the necessary vision and skills to navigate [Murray River Group] through the next evolution of our business. His experience in tight cost control management in the [fast-moving consumer goods] market sector and his [mergers and acquisitions] experience in a large international company combine to give him the skill set to progress [Murray River Group]'s strategic plans.

Mr Akdogan added:

I am excited about the challenges that this opportunity affords me and look forward to reshaping the business to deliver value and profitability to shareholders and to see our branded products. grow and gain even more recognition on the shelves of our supermarkets and health stores.

Property sale

In today's second announcement, the group advised it has sold its Gol Gol Property for $5 million, being $4.75 million for the property and $250,000 for the citrus crop within. The unconditional sale will be settled by the end of March 2021. Under the terms, Murray River Group will continue farming the land until the end of the harvest season, 15 May 2021.

The group said it expected to sign a 5-year grower supply arrangement with the new owner.

New CEO Akdogan said of the deal:

The Gol Gol property is predominantly a conventional citrus farm. The sale represents a great outcome for our shareholders with management now better able to focus on our fast-growing MRO branded organic retail products.

Over the last 6 months, we have secured over $15m of non-core asset sales as part of our ongoing turnaround strategy. With interest rates low, there is strong demand for Australian farming assets, and we are assessing opportunities to maximise shareholder value through our asset realisation program.

Murray River Group share price snapshot

The Murray River Group's share price has been on a downward trajectory over the past 12 months, falling 44.5%. This time last year, shares in the company were swapping hands at 55 cents.

Given today's closing price of 31 cents, shares would need a 94% gain to draw level with that price.

Murray River Group's market capitalisation is $13.5 million.

The post Why the Murray River Group (ASX:MRG) share price lifted today appeared first on The Motley Fool Australia.

Some of the leading Australian fund managers have named their top ASX share picks for 2019.

A panel of experts spoke to Livewire to deliver their favourite ideas for the year ahead.

Here are those ASX share tips:

National Australia Bank Ltd (ASX: NAB) – Matthew Kidman, Centennial Asset Management

Mr Kidman, perhaps surprisingly, went for NAB. He described NAB as the cheapest of the big four banks and its dividend may be the one most under threat, however a dividend 10% lower would still offer a big yield. But, if franking credits do change then NAB's high yield (excluding franking credits) could seem attractive to investors, sending the share price higher.

Xero Limited (ASX: XRO) – Ben Clark, TMS Capital

Mr Clark went for cloud accounting software favourite Xero. Its share price has fallen in recent months, but there are a number of potential factors that could boost earnings. He thinks its revenue could double in two years, the UK is forcing digitisation of tax returns (where Xero is number one) and there is payroll reform in Australia. Plus, Xero is steadily growing in the USA.

Alacer Gold Corp (ASX: AQG) – David Allingham, Eley Griffiths Group

Mr Allingham said that despite the gold sector having a strong run in recent months, Alacer hadn't benefited – at the time of recording the interview at least, it has rallied strongly since 20 December 2018. He said that Alacer Gold was trading at half of its book value and that its share price could reach $4. It's currently at $2.70.

Murray River Organics Ltd (ASX: MRG) – Dean Fergie, Cyan Investment Management

Mr Fergie went for the fruit and nut company Murray River Organics, which supplies major supermarket customers like Aldi and Coles Group Limited (ASX: COL). He said it has new management, a new board, it's trading below its NTA and it could be a turnaround idea.

Foolish takeaway

This is a diverse group of picks. If I could only go for one it would be Xero – it's still growing at a very fast pace, it has excellent platform effects, pleasing recurring revenue and is becoming a leading global technology business.

But, Xero still isn't cheap and could fall further in the coming months. There may be safer options in the short-term.

The post Leading fund managers name their top ASX share picks for 2019 appeared first on The Motley Fool Australia.

The market has bounced back from its disappointing run and is notably higher after lunch.

Three shares that have posted strong gains at the small end of the market today are listed below. Here's why they are storming higher:

The Beadell Resources Ltd (ASX: BDR) share price has climbed over 4% to 5 cents after the gold miner provided an update on its plant upgrade and production. According to the release, the construction of the pre-leach thickener, CIL tank, and oxygen tank are now complete. This means that the final stages of the Tucano Plant upgrade project are complete and fully commissioned. In addition to this, management advised that October production was 15,046 ounces due to improved material movement related to the continued mobilisation of U&M Mineração e Construção's mining fleet to Tucano. One negative, though, is that production is now forecast to be at the lower end of guidance and costs are forecast to be at the higher end of guidance due to issues with the spargers that inject oxygen into the leach tanks.

The Murray River Organics Ltd (ASX: MRG) share price has stormed 16% higher to 9.3 cents following the release of the organic food company's annual general meeting presentation. Investors appear pleased with the progress the company has made with its transformation plan after a disastrous FY 2018 which saw the company post a $59 million loss. Although the company expects to post an EBITDA loss of $2.8 million this year, it estimates that on an underlying basis this is a turnaround of ~$11 million.

The Nuheara Ltd (ASX: NUH) share price has jumped 7% to 7.6 cents after the hearing solutions company advised that it has extended its global hearing healthcare reach to the Republic of Ireland with the appointment of Hidden Hearing. According to the release, Hidden Hearing intends to stock the company's IQbuds BOOST product in 61 of its stores from December 1. Nuheara CEO, Justin Miller, appeared to be pleased with the agreement. He said, "We are delighted to welcome Hidden Hearing into the Nuheara fold. Nuheara is committed to ensuring IQbuds BOOST is only available in channels that provide a consultative sales process and take the customer on a journey with our product. Hidden Hearing prides itself on the customer with significant effort and care placed on both pre and post-sales support."

The post These small cap ASX shares are storming higher on Thursday appeared first on The Motley Fool Australia.

The benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has continued its strong run and is up 0.3% to 6,104 points in afternoon trade.

Unfortunately, not all shares on the market have been able to follow the market higher today. Four shares which have dropped notably lower are listed below:

The Baby Bunting Group Ltd (ASX: BBN) share price has fallen almost 3.5% to $1.31 after the baby products retailer downgraded its earnings guidance due to the distressed trading of competitors and the liquidation of their stock. Baby Bunting now expects FY 2018 EBITDA to be in the range of $18 million and $20 million. Previous guidance was for EBITDA of around $23 million. I expect the company to return to growth in FY 2019 and think investors ought to consider buying on this weakness.

The Blue Sky Alternative Investments Ltd (ASX: BLA) share price has continued its decline and is down a further 5.5% to $2.36. On Monday the embattled asset manager surprised the market when it withdrew its guidance for FY 2018. In addition to this, yesterday's update revealed that the company has been charging fees on undrawn debt facilities.

The Fleetwood Corporation Limited (ASX: FWD) share price has plunged over 16% to $1.89 after releasing an earnings update. According to the update, the accommodation solutions and recreational vehicle company expects full year underlying EBIT of approximately $5.5 million. Previous guidance has been for full year EBIT marginally ahead of the $14.6 million it achieved in FY 2017. Ongoing losses in its Caravan Manufacturing business are partly to blame.

The Murray River Organics Ltd (ASX: MRG) share price has tumbled over 18% to 27 cents after the organic products company downgraded its earnings guidance yet again. Murray River Organics has only been listed on the ASX for 18 months, but I've already lost count of how many times it has cut its guidance. Unsurprisingly it is trading well below its listing price of $1.30. In my opinion its shares are simply not investment grade.

The post Why these 4 ASX shares have dropped lower today appeared first on The Motley Fool Australia.

Australia's S&P/ASX 200 (Index: ^AXJO)(ASX: XJO) and ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) indices finished higher on Wednesday.

Here's a short recap of the Australian market:

• S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) up 0.29% to 6,054.70
• ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) up 0.29% to 6,168.80
• AUD/USD at US 80 cents
• Gold at US$1,333.55 an ounce
• Brent Oil at US$69.82 a barrel

The ASX indices have strengthened further today, with the ASX200 cementing its level above 6,000.

The biggest rise in the ASX200 today came from QBE Insurance Group Ltd (ASX: QBE) which rose by 5.7% on news that the company may implement capital returns as it sells off parts of its business.

ASX200 companies Cochlear Limited (ASX: COH) and WiseTech Global Ltd (ASX: WTC) rose by 3.59% and 3.91% respectively on no news today, but shareholders will be happy.

The Macquarie Atlas Roads Limited (ASX: MQA) share price went up by 3.45% as the market reacted further to its toll revenue and traffic statistics update for the quarter.

Pot stock Hydroponics Company Ltd (ASX: THC) went up by 2.79% today on news that it has identified a Canadian business opportunity.

The share price of Swift Networks Group Ltd (ASX: SW1) rocketed upwards 9.3% today after it reported its half-year result.

St Barbara Ltd (ASX: SBM) was one of the worst performers in the ASX200 today, the gold miner fell by 4.16% on news of a broker downgrade.

The Murray River Organics Ltd (ASX: MRG) share price fell by over 10% today after another downgrade and then the shareholders removed the board.

Here are some of today's top stories:

• Here's 10 top stocks I'm tipping for a great 2018
• Bitcoin (BTC) dealt another major blow
• Can shareholders expect capital returns from QBE Insurance Group Ltd?
• Getswift Ltd shares are now suspended until tomorrow

How this conglomerate has quietly doubled its share price in a year

The post ALL ORDINARIES finishes higher Wednesday: 8 shares you missed appeared first on The Motley Fool Australia.

The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) on course to make it two successive days of gains. In afternoon trade the index is almost 0.4% higher at 6,058 points.

Four shares which haven't been able to follow the market higher today are listed below. Here's why they have sunk lower:

The Galaxy Resources Limited (ASX: GXY) share price is down almost 2% to $3.53. This morning the lithium miner was downgraded to an underperform rating by equity analysts at Macquarie. Furthermore, the broker has slapped a $3.00 price target on its shares. This is due largely to its belief that from 2019 lithium prices may come under pressure as supply outstrips demand.

The Mayne Pharma Group Ltd (ASX: MYX) share price has fallen 2% to 67.2 cents. The pharmaceutical company's shares had been on a tear up until this week and have now given back the majority of their year-to-date gains. Investors appear nervous ahead of earnings season due to the pricing pressures it has faced. Industry giant Teva Pharmaceuticals will report its earnings on February 8, this should give investors an idea of what to expect from Mayne Pharma.

The Murray River Organics Ltd (ASX: MRG) share price has plunged almost 8% to 36 cents. This morning the healthy snacks company announced another surprise write-down. A recent stocktake uncovered further shortcomings by previous management with the quality and categorisation of dried vine fruit which has been previously identified and reported on. This has led to a $4 million write-down on top of its previously announced $4.3 million write-down. I would stay clear of Murray River Organics.

The St Barbara Ltd (ASX: SBM) share price is off almost 4% to $3.70. Although many of the gold miners have pushed higher today, St Barbara has fallen into the red following a broker downgrade. Credit Suisse has downgraded the gold miner to a sell rating with a $3.00 price target on valuation grounds.

The post Why these 4 ASX shares sank lower today appeared first on The Motley Fool Australia.

The S&P/ASX 200 (Index^ AXJO) (ASX: XJO) will look to build on yesterday's rally with the futures market pointing to a 12-point rise at the opening bell.

Here's a quick recap:

• FTSE 100 (UK): up 0.34%
• DAX (Germany): down 0.15%
• CAC 40 (France): down 0.03%
• Dow Jones (USA): up 0.43%
• NASDAQ (USA): up 0.82%

Iron ore giant Rio Tinto Limited (ASX: RIO) announced it has launched a new debt reduction program, designed to buy back up to $2.5 billion in bonds. Most of the bonds it plans to repurchase expire in 2019 and 2020 with the remainder expiring between 2021 and 2025.

Rio Tinto's fellow iron ore producer Fortescue Metals Group Limited (ASX: FMG) could also be on the market's radar following a report in The Australian Financial Review. The report indicated that Chinese steel mills will favour higher grade ore which could force producers of lower grade ore (such as Fortescue) to offer steeper discounts on their product.

OFX Group Ltd (ASX: OFX), formerly OzForex, announced a 2% increase in revenue for the year ended 31 March 2017, although its underlying net profit declined 18% for the period. Its final dividend is also 2.9 cents per share, down from the final 3.1 cents per share paid last year.

The APN Outdoor Group Ltd (ASX: APO) share price fell sharply on Monday, likely representing a delayed reaction to news that its merger with fellow outdoor-advertising group oOh!Media Ltd (ASX: OML) would not progress.

And Surfstitch Group Ltd (ASX: SRF) and Murray River Organics Ltd (ASX: MRG) will both look to bounce back today. The pair plunged 23% and 42%, respectively, on Monday with both companies releasing very disappointing updates to the market.

Before getting started on your day, be sure to check out these two articles:

1. Why the Murray River Organics Ltd share price has been CRUSHED
2. Should you join these investors jumping back into resources shares?

The post S&P/ASX 200 open Tuesday: 7 shares you need to watch today appeared first on The Motley Fool Australia.

The benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has had a great start to the week and in afternoon is up 0.7% to 5,775 points.

Unfortunately not all shares have been able to follow the market higher today. In fact, four shares in particular have started the week with huge declines. Here's why:

The Auscann Group Holdings Ltd (ASX: AC8) share price has tumbled almost 10.5% to 51.5 cents. Today's decline is likely to relate to last week's capital raising. On Friday the medicinal cannabis company secured a $12 million institutional placement at 50 cents per share. These funds will be put towards the development of cultivation and manufacturing activities, as well as accelerating its medical outreach programme.

The Murray River Organics Ltd (ASX: MRG) share price has fallen an incredible 41% to 36.7 cents after the organic food company downgraded its full-year guidance for the second time this month. Due to unfavourable weather and the impact it has had on its harvest, management expects net profit after tax of between $100,000 and $800,000. Previous guidance had been for $6.6 million. This is one to avoid in my opinion.

The PAS Group Ltd (ASX: PGR) share price has dropped 14% to 50 cents after the retailer provided a disappointing trading update. Lower traffic and an elevated promotional environment has led to a drop in sales from its Black Pepper and Review brands. As a result management expects a weaker second-half performance. Like most retailers, I would avoid PAS Group for the time being.

The Surfstitch Group Ltd (ASX: SRF) share price has plunged 30% to 6.9 cents after the surf wear retailer downgraded its full-year earnings guidance. Management advised that it expects to report an EBITDA loss of between $10.5 million and $11.5 million for the full-year following weak trading conditions in key markets. This is another retailer I would give a wide berth to.

The post Why these 4 ASX shares have started the week with HUGE declines appeared first on The Motley Fool Australia.