Why Coronado, GQG, Patriot Battery Metals, and Strike shares are pushing higher

The S&P/ASX 200 Index (ASX: XJO) is out of form on Wednesday. In afternoon trade, the benchmark index is down 0.6% to 7,247.8 points.

Four ASX shares that aren’t letting that hold them back today are listed below. Here’s why they are charging higher:

Coronado Global Resources Inc (ASX: CRN)

The Coronado share price is up 4.5% to $2.09. Investors continue to buy coal miners due to the high prices that the black gold is commanding right now. In addition, it is worth noting that earlier this week, Macquarie slapped an outperform rating and $3.10 price target on its shares. This implies potential upside of almost 50%.

GQG Partners Inc (ASX: GQG)

The GQG share price is up over 1% to $1.45. This morning this fund manager released its monthly funds under management update. GQG had a strong month and saw its funds under management rise 8.2% to US$90.7 billion from US$83.8 billion. However, it’s unclear how much of this increase was driven by financial markets having a stellar month.

Patriot Battery Metals Inc (ASX: PMT)

The Patriot Battery Metals share price is up 95% from its listing price to $1.17. This North America-based lithium developer listed on the Australian share market today following an IPO. Patriot’s flagship asset is the 100% owned Corvette Property, located near the Trans-Taiga Road and powerline infrastructural corridor in the James Bay Region of Québec.

Strike Energy Ltd (ASX: STX)

The Strike Energy share price is up 7% to 36.5 cents. This morning this energy company announced that it has increased its stake in Warrego Energy Ltd (ASX: WGO) to 19.9%. Beach Energy Ltd (ASX: BPT) and Gina Rinehart’s Hancock Energy are currently in a bidding war for the energy explorer.

The post Why Coronado, GQG, Patriot Battery Metals, and Strike shares are pushing higher appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#43B02A”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#43B02A”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Why Beach, Bellevue Gold, Block, and Brainchip shares are dropping
• Why is Clough’s collapse wreaking havoc on the Beach Energy share price?
• Strike Energy share price soars following Warrego buy up
• 5 things to watch on the ASX 200 on Wednesday
• Here’s how I’d invest $5,000 in ASX dividend shares to earn a second income

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.

from The Motley Fool Australia https://ift.tt/R63may5