In late morning trade the S&P/ASX 200 Index (ASX: XJO) is on course to record another solid gain. At the time of writing, the benchmark index is up 0.75% to 6,790.8 points.
Four ASX shares that are climbing more than most today are listed below. Here’s why they are surging higher:
AVZ Minerals Ltd (ASX: AVZ)
The AVZ share price is up 6% to 21.2 cents. Investors have been buying the lithium-focused mineral exploration company’s shares following the announcement of a second offtake agreement. According to the release, AVZ and Shenzhen Chengxin Lithium Group have signed a binding offtake agreement for the supply of up to 180,000 tonnes per annum of spodumene concentrate from the Manono Lithium and Tin Project.
Legend Mining Limited (ASX: LEG)
The Legend Mining share price is up 4% to 13 cents. The catalyst for this has been news that diamond drilling has commenced at its Mawson prospect within the Rockford project in Western Australia. Investors appear optimistic the nickel and copper focused mineral exploration company will unearth a lucrative resource.
Nuix Ltd (ASX: NXL)
The Nuix share price has jumped 16% to $5.46. This appears to have been driven by bargain hunters swooping in to buy shares after they fell to a 52-week low on Monday. When the Nuix share price hit that level, it meant it was down a massive 61% from its 52-week high. A disappointing half year result has been weighing on its shares.
Vocus Group Ltd (ASX: VOC)
The Vocus share price has surged over 8% higher to $5.43. Investors have been buying the specialist fibre and network solutions provider’s shares after it entered into a Scheme Implementation Deed with a consortium owned by Macquarie Infrastructure and Real Assets (MIRA) and Aware Super. The consortium has tabled a $5.50 per share offer, which the Vocus board is recommending shareholders accept.
Where to invest $1,000 right now
When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.
*Returns as of February 15th 2021
More reading
- Why the AVZ Minerals (ASX:AVZ) share price is surging 15% higher today
- Vocus (ASX:VOC) share price on watch after accepting takeover offer
- 2 ASX shares at 52-week lows: Are they bargain buys?
- One person earned $250,000 on Airtasker last year. Now it’s listing
- Here’s why the Nuix (ASX:NXL) share price is storming 5% higher today
James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. recommends Nuix Pty Ltd. The Motley Fool Australia has recommended Nuix Pty Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
The post Why AVZ, Legend Mining, Nuix, & Vocus shares are surging higher appeared first on The Motley Fool Australia.
from The Motley Fool Australia https://ift.tt/2N3bcyy
Leave a Reply