In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to start the week with a solid gain. At the time of writing, the benchmark index is up 0.45% to 7,436.8 points.
Four ASX shares that are climbing more than most today are listed below. Here’s why they are charging higher:
APM Human Services International Ltd (ASX: APM)
The APM Human Services share price is up 3.5% to $2.94. Investors have been buying this human services provider’s shares after it announced new contract wins. According to the release, APM has been awarded 44 Workforce Australia contracts across 27 employment regions in Australia.
Firefinch Ltd (ASX: FFX)
The Firefinch share price is up 2.5% to 96.8 cents. This morning the gold and lithium explorer announced that the final conditions have been met regarding Jiangxi Ganfeng Lithium Co’s investment into its Goulamina Lithium Project. The 50:50 joint venture will benefit from a total debt and equity funding package of at least US$170 million.
Rio Tinto Limited (ASX: RIO)
The Rio Tinto share price is up 2% to $119.23. This appears to have been driven by a broker note out of UBS this morning. According to the note, the broker has taken its sell rating off the mining giant’s shares and upgraded them to neutral. UBS made the move after increasing its iron ore price forecasts.
Washington H. Soul Pattinson and Co. Ltd (ASX: SOL)
The Soul Patts share price is up 3.5% to $28.59. Investors have been buying this investment company’s shares after they were the subject of a positive broker note out of Morgans. According to the note, the broker has upgraded Soul Patts’ shares to an add rating with a $30.60 price target. It made the move largely on valuation grounds following recent weakness in its share price.
The post Why APM, Firefinch, Rio Tinto, and Soul Patts shares are charging higher today 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
- What is the outlook for ASX 200 mining shares in April?
- Up 350% in a year, here’s why the Firefinch (ASX:FFX) share price is flying higher on Monday
- Why is the Rio Tinto (ASX:RIO) share price up today?
- Why Allkem, Firefinch, JB Hi-Fi, and Piedmont Lithium are charging higher
- BHP share price higher on broker upgrade
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 and has recommended Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia owns and has recommended Washington H. Soul Pattinson and Company Limited. 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/ym0jesV
Leave a Reply