In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is trading ever so slightly higher. At the time of writing, the benchmark index is up slightly to 7,437.1 points.
Four ASX shares that are climbing more than most today are listed below. Here’s why they are storming higher:
Chalice Mining Ltd (ASX: CHN)
The Chalice Mining share price has continued its ascent and is up a further 6% to $9.23. Investors have been fighting to get hold of the mineral explorer’s shares this week following the release of the maiden mineral resource estimate for the Gonneville deposit at the Julimar Project in Western Australia. Those results revealed the largest nickel sulphide discovery in over 20 years and the largest platinum-group elements (PGE) discovery in Australian history.
Life360 Inc (ASX: 360)
The Life360 share price is up 2.5% to $12.71. This family safety app maker’s shares have been storming higher this week following the release of a bullish broker note out of Morgan Stanley. According to the note, the broker has retained its overweight rating and lifted its price target on Life360’s shares to $14.20.
Kogan.com Ltd (ASX: KGN)
The Kogan share price is up 4% to $9.42. This is despite there being no news out of the ecommerce company today. However, with the Kogan share price down 51% in 2021, some investors may believe it has been oversold. Earlier this week UBS put a neutral rating on Kogan’s shares and cut its price target to $10.00 from $15.10.
National Australia Bank Ltd (ASX: NAB)
The NAB share price is up 4.5% to $30.20. Investors have been buying this banking giant’s shares after a number of brokers responded positively to its full year results. One of those brokers was Goldman Sachs. In response to its results, the broker has retained its conviction buy rating and lifted its price target on the bank’s shares to $31.15.
The post Why Chalice Mining, Life360, Kogan, and NAB shares are storming higher appeared first on The Motley Fool Australia.
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More reading
- These 3 ASX shares have just been named as broker buys
- Chalice Mining (ASX:CHN) share price leaps another 8% on the back of historic discovery
- ASX 200 (ASX:XJO) midday update: NAB hits 52-week high, CSL upgraded
- NAB (ASX:NAB) share price hits 52-week high on bullish broker note
- 5 things to watch on the ASX 200 on Wednesday
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Kogan.com ltd and Life360, Inc. The Motley Fool Australia owns shares of and has recommended Kogan.com ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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