The All Ordinaries Index (ASX: XAO) has struggled this year – tumbling 6% year to date – but not all shares on the index have suffered.
In fact, these three have gained more than 130% in 2022 so far. Let’s take a look at what’s been driving them higher.
3 ASX All Ordinaries shares boasting massive 2022 gains
Yancoal Australia Ltd (ASX: YAL)
All Ordinaries coal producer Yancoal has seen its share price lift a whopping 134.6% so far this year. As of Wednesday’s close, it was trading at $6.10.
Surging energy prices following Russia’s invasion of Ukraine have likely been behind much of its gains. Though, recent talk of a potential takeover offer from Yankuang Energy might have also spurred interest.
Yankuang Energy is a Chinese state-owned entity and Yancoal’s controlling shareholder. Yesterday, the market heard its response to news the ASX-listed company wouldn’t support its takeover bid.
Yankuang said the bid – which is still hypothetical at this stage – would provide “a reasonable opportunity for those Yancoal shareholders who wish to exit but are not able to do so at current market prices”.
Stanmore Resources Ltd (ASX: SMR)
The share price of Yancoal’s fellow All Ordinaries coal producer Stanmore Resources has also taken off this year. It’s currently trading at $2.75 – 190.1% higher than it was at the start of 2022.
The company has also likely had tailwinds due to the price of coal in 2022.
Grange Resources Limited (ASX: GRR)
Finally, the Grange Resources share price has lifted a whopping 133.8% this year so far. It closed yesterday’s session at $1.77.
The All Ordinaries share mines iron ore and produces iron ore pellets in Tasmania. It also owns a 70% stake in a magnetite project in Western Australia.
The company has benefited from strong iron ore prices this year, allowing it to declare a 10-cent per share fully franked final dividend in April. That’s its highest routine dividend ever and equal to a 10-cent special dividend it paid out late last year.
The post 3 ASX All Ordinaries shares up by more than 130% so far in 2022 appeared first on The Motley Fool Australia.
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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 Scott Phillips.
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