3 ASX 200 shares cracking new 52-week highs on Wednesday

A graphic image of three upward pointing arrows with smoke coming from their bottoms, indicating the arrows are taking off just like the Althea share price todayA graphic image of three upward pointing arrows with smoke coming from their bottoms, indicating the arrows are taking off just like the Althea share price today

Industrials and miners are leading the charge on Wednesday with both sectors outpacing the benchmark S&P/ASX 200 index (ASX: XJO)’s 55 basis point gain.

The S&P/ASX 200 Industrials index (XNJ) has spiked almost 2.5% whereas the S&P/ASX 300 metals & mining index (XMM) has clipped a 2% jump.

Amongst that group, these shares have nudged past their 52-week high’s in todays session.

Atlas Arteria (ASX: ALX)

Shares of Atlas Arteria have shot to yearly highs after the company told investors IFM Global Infrastructure Fund (IFM) has obtained an economic interest of around 15% in the company.

“IFM has indicated that it intends to request from Atlas Arteria access to certain limited company information to assess whether it can submit a non-binding indicative proposal to acquire [Atlas],” the company said.

“Atlas Arteria has not yet received any such request for information nor any proposal from IFM.”

Investors were immediately on the track and the stock shot to its intraday highs from the opening of trade, holding that line since.

After dancing around the $7 mark for the last month of trade, Atlas’ rallied to a high of $8.35 in today’s trading, currently at $8.25 on last check.

Santos Ltd (ASX: STO)

Shares of hydrocarbons giant Santos saw buyers immediately from the open and have clipped a 3% gain on the day. The current ask is $8.73 per share.

Despite no market sensitive info from the company today, Santos shares have nudged higher today in continuation with the longer term uptrend.

Shares had already booked tidy gains in reaching their 52-week highs on Monday as well, as investors continue winding up the oil and gas trade of 2022.

Brent Crude has broken out to the upside after trading sideways since April and is now priced at US$120 per barrel.

As momentum in both commodity sectors continues rallying north, it stands to reason that investors are buying into that strength with the Santos share price as well.

Aurizon Holdings Ltd (ASX: AZJ)

Shares of Aurizon have also cracked their 52-week high’s in today’s session and now rest at $4.21 apiece.

The company has seen investors buying into share price strength over the past few months, with the stock climbing from a low of $3.45 in March.

Since then the Aurizon has set a series of new highs despite no market sensitive updates on the company.

Nevertheless, broker sentiment is mixed on the company, with just 23% of brokers covering the stock saying it’s a buy, and 46% rating it a sell, according to Bloomberg data.

The consensus price target from this list is $3.70 per share, meaning the company is now trading above this valuation.

In the last 12 months, Aurizon shares have clipped an 11% gain, or a 21% gain this year to date.

The post 3 ASX 200 shares cracking new 52-week highs on Wednesday 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 recommended Aurizon Holdings Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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