In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to end the week on a disappointing note. At the time of writing, the benchmark index is down 0.5% to 7,349.8 points.
Four ASX shares that are not letting that stop them from pushing higher are listed below. Here’s why they are on form today:
Grange Resources Limited (ASX: GRR)
The Grange Resources share price has jumped 24% to 75.5 cents. This morning the iron ore pellet producer announced that it will pay a special dividend to shareholders. According to the release, thanks to its strong performance in 2021, the company will pay a fully franked 10 cents per share dividend later this month.
Iluka Resources Limited (ASX: ILU)
The Iluka share price is up 7% to $9.40. Investors have been buying the mineral sands producer’s shares today after it was the subject of a bullish broker note out of Macquarie. According to the note, the broker has retained its outperform rating and lifted its price target on the company’s shares to $12.00. This was driven by a favourable outlook for zircon, rutile, and rare earth prices.
Perpetual Limited (ASX: PPT)
The Perpetual share price is up 3% to $36.09. This also appears to have been driven by a bullish broker note. According to a note out of Citi, its analysts have upgraded this fund manager’s shares to a buy rating with a $40.40 price target. Citi believes recent share price weakness has created a buying opportunity for investors.
Telix Pharmaceuticals Ltd (ASX: TLX)
The Telix share price is up 5% to a record high of $7.86. This morning the biopharmaceutical company announced that its marketing authorisation application (MAA) submission in Europe for Illuccix has successfully progressed to the final stage of regulatory assessment. Illuccix is the company’s lead product and used for prostate cancer imaging.
The post Why Grange, Iluka, Perpetual, and Telix shares are rising today appeared first on The Motley Fool Australia.
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More reading
- Grange Resources (ASX:GRR) share price soars 24% on supersized special dividend
- ASX 200 (ASX:XJO) midday update: Fortescue CEO steps down, Westpac buyback update
- Here’s why the Telix (ASX:TLX) share price is falling today
- Standouts: 3 ASX biotech shares that outperformed in November
- Telix (ASX:TLX) share price lifts 7% on new distribution agreement
Motley Fool contributor James Mickleboro owns TELIXPHARM DEF SET. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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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