Despite battling tough trading conditions, the S&P/ASX 200 Index (ASX: XJO) managed to record a decent gain last month. The benchmark index rose 1.1% to end the period at 7,049.1 points.
While a number of shares climbed higher with the market, some recorded bigger gains than others. Here’s why these were the best performing ASX 200 shares in February:
NRW Holdings Limited (ASX: NWH)
The NRW share price was the best performer on the ASX 200 last month with a 37.6% gain. Investors were buying this mining contractor’s shares following the release of a better than expected half year result. For the six months ended 31 December, NRW delivered a 26% increase in operating earnings to $74.6 million. In light of this strong form, management has updated and narrowed its full year guidance towards the top end of its previous range.
Cimic Group Ltd (ASX: CIM)
The Cimic share price wasn’t far behind with a gain of 36% in February. This strong gain was driven by news that the engineering company has received a hostile takeover approach. According to the release, Cimic’s majority shareholder, HOCHTIEF, is planning to make an off-market takeover offer of $22 cash per share.
Sims Ltd (ASX: SGM)
The Sims share price was on form and charged 26.9% higher over the month. Investors were buying the scrap metal company’s shares following the release of a strong half year result. For the first half, Sims reported a 74% increase in revenue to $4,265 million and a 541% jump in underlying EBIT to $361.7 million. Management advised that this was driven by “higher sales volumes and higher material prices, combined with disciplined margin management.”
Nufarm Ltd (ASX: NUF)
The Nufarm share price was a strong performer and rose 25.1% over the period. This agricultural chemicals company’s shares were in demand with investors in February following the release of a very upbeat trading update. According to the release, Nufarm’s first quarter revenue grew 36% over the prior corresponding period. Management advised that this was supported by favourable weather conditions.
The post These were the best performing ASX 200 shares in February appeared first on The Motley Fool Australia.
Wondering where you should 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 over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.
*Returns as of January 12th 2022
More reading
- These were the worst performing ASX 200 shares in February
- Will ASX REITs get smashed by rising interest rates?
- 5 things to watch on the ASX 200 on Tuesday
- Here are the top 10 ASX shares today
- Why is the Webjet (ASX:WEB) share price having such a lousy start to the week?
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. 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.
from The Motley Fool Australia https://ift.tt/N7XoKIW
Leave a Reply