3 ASX All Ordinaries shares defying today’s falls to surge higher

Three different coloured arrows going up, symbolising a rising share price and record highs.Three different coloured arrows going up, symbolising a rising share price and record highs.

ASX shares have shifted lower on Friday with the All Ordinaries Index (ASX: XAO) tracking 159 basis points lower to 7,762 at the time of writing.

Even with the selling pressures today, these 3 All Ordinaries shares have outpaced the rest and are surging higher in afternoon trade.

TradingView Chart

Genworth Mortgage Insurance Australia Ltd (ASX: GMA)

Shares of Genworth Mortgage have rallied in the past two months and now trade at $3.11 apiece.

In today’s session, investors have bid shares around 3% higher, despite no market-sensitive news.

However, back in February, the company printed healthy FY21 earnings. That involved a 19% gain in net earned premium (NEP) and an 8% gain on cash and investments to $3.7 billion.

It also authorised a 12 cents per share ordinary dividend and 12 cents special dividend, with full franking credits for investors to enjoy come tax time.

Genworth shares rallied to 52-week highs soon after its earnings release before consolidating back down somewhat. Since then, they have trudged north at a gradual pace toward that level again.

Bellevue Gold Ltd (ASX: BGL)

Shares of Bellevue Gold have spiked in today’s session and now trade at around $1 per share. Earlier, the metals miner released its quarterly activities and cash flow update.

In its report, Bellevue noted it awarded a mining contract to Develop Global Ltd (ASX: DVP) to begin development and production activities at its flagship project.

It also spent $14 million on exploration and evaluation expenses, whilst advancing in preparations for the next phase of its mine developments.

Bellevue Managing director said that “everything is going according to plan” with the site, and that successful drilling “has set [Bellevue] up for a reserve update this quarter”.

The company has now surged 19% since trading resumed in January, reversing a deep loss attained earlier in the year.

Sayona Mining Ltd (ASX: SYA)

Shares in Sayona Mining have clawed back gains in 2022 and surged more than 104% in the past month of trade.

Investors have rallied the Sayona Mining share price this past month or so after it affirmed a resource upgrade at its Quebec mining operations in Canada.

As Mitch Lawller of TMF reported at the time, “the upgrade represents a doubling from the company’s previous estimates.”

“Unsurprisingly, investors are attempting to snap up shares in Sayona as the share price roars ahead,” he added.

Since then, it has continued to surge higher, helped by ever-growing demand for lithium and electric vehicles.

It’s now set a new decade-long high for the company, after its share price collapsed back from a high of $1.50 back in December 2007.

The post 3 ASX All Ordinaries shares defying today’s falls to surge higher appeared first on The Motley Fool Australia.

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Motley Fool contributor Zach Bristow 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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