Top 20 ASX trades by Sharesight users – April 2023

Welcome to the April 2023 edition of Sharesight’s monthly ASX trading snapshot, where we look at the top 20 trades Sharesight users made on the ASX during the month.

In this snapshot, trades were strongly led by Vanguard’s Australian Shares Index ETF (ASX: VAS). In terms of individual equities, trades were led by Pilbara Minerals (ASX: PLS), which recently received board approval to invest in the increase of its nameplate spodumene concentrate production capacity. The top trades were followed by BHP (ASX: BHP), whose latest quarterly earnings fell slightly short of expectations. It was a strong month for mining stocks overall, with 8 of the top 20 stocks belonging to the mining and mineral resources sector.

Top 20 ASX trades April 2023

Let’s look at the news behind some of the key stocks in this month’s snapshot:

Pilbara Minerals (ASX: PLS)

• Broker forecasts 40% upside for Pilbara shares
• Pilbara share price drops amid falling lithium prices
• Pilbara share price rises following board’s approval of Pilgan Plant investment

BHP (ASX: BHP)

• BHP’s latest quarterly earnings fall slightly short of expectations
• Share price falls amid reduced production targets
• BHP counting on China rebound to boost iron ore demand

Woodside Energy (ASX: WDS)

• Broker "cautious" about Woodside’s Scarborough project ahead of AGM
• Could petroleum tax changes put Woodside’s dividends at risk?
• Woodside CEO assures shareholders that stalled Browse LNG project is still "very attractive"

ANZ (ASX: ANZ)

• Broker cites ANZ as its top pick in ASX 200 banking sector
• Share price rises on news of potential Suncorp Bank takeover
• ANZ eliminates cash deposits and withdrawals from a number of branches

Newcrest Mining (ASX: NCM)

• Newmont Mining makes third and final offer in Newcrest takeover bid
• Share price rises following improved takeover bid
• Newcrest and Harmony Gold sign MOU to progress PNG gold project

Lynas Rare Earths (ASX: LYC)

• Lynas reveals more than 27% drop in Q3 revenue
• Lynas’ AU$575 million Kalgoorlie-Boulder processing plant nearing completion
• Launches appeal against Malaysian rare earth processing ban

Fortescue Metals (ASX: FMG)

• Fortescue share price drops following soft Q3 results
• Reports major milestone at Iron Bridge project
• Fortescue produces first hydrogen electrolyser prototype; plans to begin production in QLD this year

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FURTHER READING

• Subscribe to Sharesight20 trading snapshots
• How Sharesight calculates your investment performance
• Top 20 ASX trades by Sharesight users – March 2023