COL and Pilbara Minerals Ltd: Analyzing Two ASX Growth Shares to Watch

2 min read | September 16, 2024 05:59 PM AEST | By Team Kalkine Media

Google News:

COL and Pilbara Minerals Ltd: Analyzing Two ASX Growth Shares to Watch — Image source: Shutterstock

Recent News

Can Firming Capacity Spark The Next ASX Energy Move?

ASX 200 Energy Stocks Hit A Margin Crossroad

ASX 200 Income Debate Heats Up Before EOFY

Viking Mines (ASX:VKA) Advances Linka Tungsten Project with Positive O...

Make Kalkine Media
My Trusted Source

In recent developments on the ASX, Coles Group Ltd and Pilbara Minerals Ltd have shown significant market movements. Coles Group has seen a notable increase in its share price, reflecting strong performance since the start of the year, while Pilbara Minerals, an ASX growth stock, has rebounded from its 52-week lows, highlighting its position in the lithium sector. This article explores the latest updates and key metrics for both companies.

Coles Group Ltd (ASX:COL)

Coles Group Ltd has seen its share price rise by 17.1% since the beginning of 2024. Coles, an established Australian retailer, provides a range of products including fresh food, groceries, general merchandise, liquor, fuel, and financial services. Founded in 1914 in Victoria, the company was part of Wesfarmers from 2007 until its spin-off in 2018, when it began trading independently on the ASX under the ticker symbol ‘COL’.

Coles operates various businesses beyond its supermarkets, including flybuys, Liquorland, First Choice, Vintage Cellars, and Coles Express. Despite being a key competitor to Woolworths, Coles commands about 28% of the Australian grocery market. Since its separation from Wesfarmers, Coles has become known for its reliable dividend payouts. Currently, COL shares have a dividend yield of approximately 3.59%, which is slightly below its 5-year average of 3.94%.

Pilbara Minerals Ltd (ASX:PLS)

Pilbara Minerals Ltd has experienced a notable improvement, with its share price tracking 25.5% above its 52-week lows. Pilbara Minerals is a prominent ASX-listed lithium company, owning the Pilgangoora lithium operation, one of the world’s largest independent hard-rock lithium projects, acquired in 2014.

The company specializes in extracting and selling spodumene concentrate, a lithium-rich rock. Pilbara Minerals sells its concentrate through various offtake agreements and spot sales on the Battery Material Exchange (BMX) platform. Notable offtake partners include Great Wall, a Chinese automobile manufacturer, and POSCO, a South Korean steelmaker.

Coles continues to be a reliable choice for dividend-seeking investors, Pilbara Minerals remains a key player in the lithium sector, with its share price reflecting positive trends in the industry.

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.