Its a good day to be a shareholder in these ASX mining shares. They’ve each surpassed their previous 52-week highs and, in many cases, reached their highest point ever.
But, perhaps, mining shares might be a bit broad as each of these 5 stocks deal in a common commodity – lithium.
They were also all involved in S&P Dow Jones Indices’ March quarterly review.
Let’s take a look at the ASX lithium explorers and developers reaching long-forgotten heights on Thursday.
The ASX mining shares hitting new 52-week highs
ANZ Minerals Ltd (ASX: AVZ)
The AVZ Minerals share price is surging 8.25% at the time of writing.
However, earlier today the lithium explorer’s stock boomed to a new 52-week high – and all-time high – of $1.14, representing a 10.6% gain.
Interestingly, there’s been no news released by the company for nearly 3 weeks.
Though, it was admitted to the S&P/ASX 200 Index (ASX: XJO) prior to the ASX opening on Monday. That could have helped spur its gains this week.
As could the rising price of lithium.
According to reporting by OilPrice.com, battery-grade lithium carbonate was trading for an average of US$76,700 per tonne in mid-March – 95% higher than it was at the start of 2022.
Additionally, prices are expected to remain high as demand continues.
All this has likely helped send the lithium explorer’s stock to its new 52-week high.
Lake Resources N.L. (ASX: LKE)
Another ASX lithium explorer is hitting new all-time highs today. The Lake Resources share price reached $1.87 today, representing a 3.8% gain.
There’s been no news from the company lately. But, once again, lithium prices could be to blame for the stock’s gains.
Additionally, the company was welcomed to both the All Ordinaries Index (ASX: XAO) and the ASX 300 earlier this week.
Impressively, the Lake Resources share price has gained a whopping 87.5% since this time last month.
Core Lithium Ltd (ASX: CXO)
Surprise, surprise: Another lithium explorer has made its way onto this list.
The Core Lithium share price hit a new 52-week high – and all-time high – of $1.29 on Thursday, representing a 4% increase.
By now, I’m sure readers will be sensing a pattern as, once again, there’s been no word from the company.
However, it was added to the S&P/ASX 300 Index (ASX: XKO) prior to Monday’s open.
Sayona Mining Ltd (ASX: SYA)
Another lithium stock, another 52-week high.
Lithium developer, Sayona Mining saw its share price hit its highest point since 2009 when it peaked at 24 cents today – a 14.2% gain.
The Sayona Mining share price took off earlier this month on news of its Québec lithium resource.
Like Lake Resources, Sayona Mining was also welcomed to both the All Ords and the ASX 300 earlier this week.
Firefinch Ltd (ASX: FFX)
Finally, Firefinch – ASX-listed gold and lithium developer – surpassed its previous 52-week high on Thursday.
At its intraday high, the Firefinch share price was trading at 93 cents, a 4.4% increase on its previous closing price.
In a double whammy, the company’s stock might be being boosted by both the gold price – gold futures are currently up 0.24% according to CNBC – and the lithium price.
The company was also admitted to the All Ords and the ASX 300 on Monday.
The post 5 ASX mining shares smashing 52-week highs today appeared first on The Motley Fool Australia.
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More reading
- Why Brickworks, JB Hi-Fi, Mesoblast, and Sayona shares are charging higher
- The AVZ Minerals (ASX:AVZ) share price has boomed a whopping 36% in a week. What’s the deal?
- Could the Firefinch (ASX:FFX) share price have 130% upside? Broker weighs in
- Why is the Sayona (ASX:SYA) share price rocketing 19% higher?
- Here are the 3 most heavily traded ASX 200 shares this Wednesday
Motley Fool contributor Brooke Cooper 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.
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