Top 20 ASX trades by Sharesight users – August 2022

Welcome to the August 2022 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, buy trades were strongly led by Vanguard’s Australian Shares Index ETF (ASX: VAS). In terms of individual equities, buy trades were led by BHP (ASX: BHP), which was rejected in its bid to acquire copper mining company OZ Minerals (ASX: OZL). At the same time, sell trades were led by Lake Resources (ASX: LKE), which has been gearing up to progress on its flagship Kachi project.

Top 20 ASX trades August 2022

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

BHP (ASX: BHP)

• OZ Minerals turns down BHP’s AU$8.3 billion takeover offer
• BHP pauses coal investments in QLD due to royalty rises
• Share price rises following dividend announcement for FY22

Lake Resources (ASX: LKE)

• Lake Resources plans to add corporate staff and drilling rigs to further Kachi project
• Share price plunges alongside other metals and mining stocks
• Lake Resources underperforms compared to other ASX 200 lithium stocks

ANZ (ASX: ANZ)

• ANZ share price has dropped 19% in 2022
• Completes AU$3.5 billion capital raise to fund Suncorp acquisition
• Share price remains flat on news of ANZ’s push to fund finance decarbonisation

Rio (ASX: RIO)

• Rio secures deal for Simandou Iron Ore project
• Rio’s offer to buy Turquoise Hill Resources has been rejected
• Plans to invest US$29 million in new aluminium recycling centre in Quebec

Core Lithium (ASX: CXO)

• Core Lithium extends termination date of lithium supply contract with Tesla
• Share price jumps 50% in a month as lithium stocks rally
• Core Lithium appoints its first CEO

Pilbara Minerals (ASX: PLS)

• Pilbara share price rises following appointment of new CEO
• Share price spikes as broker tips 80% upside for Pilbara
• Posts inaugural full year net profit of AU$562 million

Fortescue Metals (ASX: FMG)

• Fortescue profit down despite record iron ore shipments
• Imdex Limited signs deal with Fortescue to provide mining-support tech
• Plans to invest US$90 million to explore Gabon’s Belinga iron ore reserves

Track your investment portfolio with Sharesight

Get access to Sharesight20 insights like this by tracking your investment portfolio with Sharesight. Built for the needs of investors like you:

• Track all your investments in one place, including stocks, mutual/managed funds, property, and even cryptocurrency
• Get the true picture of your investment performance, including the impact of brokerage fees, dividends, and capital gains with Sharesight’s annualised performance calculation methodology
• Run powerful reports built for investors, including Performance, Portfolio Diversity, Contribution Analysis and Future Income
• Run tax reports including Taxable Income (dividends/distributions), Capital Gains Tax (Australia and Canada), Traders Tax (Capital Gains for traders in NZ) and FIF foreign investment fund income reports (NZ)

Sign up for a FREE Sharesight account and get started tracking your investments today.

Disclaimer: The above article is for informational purposes only and does not constitute a specific product recommendation, or taxation or financial advice and should not be relied upon as such. While we use reasonable endeavours to keep the information up-to-date, we make no representation that any information is accurate or up-to-date. If you choose to make use of the content in this article, you do so at your own risk. To the extent permitted by law, we do not assume any responsibility or liability arising from or connected with your use or reliance on the content on our site. Please check with your adviser or accountant to obtain the correct advice for your situation.

FURTHER READING

• Subscribe to Sharesight20 trading snapshots
• How Sharesight calculates your investment performance
• Top 20 ASX trades by Sharesight users – July 2022