Bank of Queensland, BrainChip, Coronado Global, and Lake Resources shares are rising

In afternoon trade on Wednesday, the S&P/ASX 200 Index (ASX: XJO) is on course to record a decent gain. At the time of writing, the benchmark index is up 0.3% to 6,664.8 points.

Four ASX shares that are climbing more than most today are listed below. Here’s why they are rising:

Bank of Queensland Ltd (ASX: BOQ)

The Bank of Queensland share price is up 9.5% to $7.48. This follows the release of the regional bank’s full year results. Although the bank’s results fell short of expectations, its fourth quarter net interest margin has got investors excited and is likely to lead to consensus earnings estimates for FY 2023 being revised higher.

BrainChip Holdings Ltd (ASX: BRN)

The BrainChip share price is up 3.5% to 87.5 cents. Investors have been buying this semiconductor company’s shares after it announced the receipt of a new patent in the United States. According to the release, the US Patents and Trademarks Office has issued the company with a patent for “An Improved Spiking Neural Network.”

Coronado Global Resources Inc (ASX: CRN)

The Coronado share price is up 8% to $2.09. This morning this coal miner confirmed that it is in talks over a possible merger with Peabody Energy Corporation (NYSE: BTU). However, Coronado warned that discussions are still ongoing and there’s no guarantee they will end in a deal.

Lake Resources N.L. (ASX: LKE)

The Lake Resources share price is up 3% to $1.02. This follows news that the lithium developer has signed a conditional agreement with lithium battery producer SK On for the offtake of up to 25,000 tonnes per annum of lithium from the Kachi Project in Argentina. SK On will also acquire a 10% stake in the company via the issue of new shares.

The post Bank of Queensland, BrainChip, Coronado Global, and Lake Resources shares are rising appeared first on The Motley Fool Australia.

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More reading

• What’s the outlook for ASX 200 bank shares in Q2?
• Guess which ASX 200 coal share is leaping higher on a possible takeover
• BrainChip share price higher on new US patent issue
• Bank of Queensland share price leaps 8% higher on results and NIM outlook
• Everything you need to know about the upsized Bank of Queensland dividend

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. 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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