The All Ordinaries (ASX: XAO) is having a positive day. In afternoon trade, the index is up 0.3% to 7,708.5 points. This leaves it trading approximately 3% away from its 52-week high.
Three ASX All Ordinaries shares that have already reached that milestone during todayâs session are listed below. Hereâs why they are hitting new highs today:
Accent Group Ltd (ASX: AX1)
The Accent share price climbed to a new 52-week high of $2.27 on Wednesday. Investors have been scrambling to buy this footwear and fashion retailerâs shares in recent weeks thanks partly to a strong trading update. So much so, the Accent share price is now up a sizeable 35% since the start of the year. That update revealed that total sales for the first half were up 33% over the prior corresponding period to $825 million. This is expected to lead to half year earnings before interest and tax (EBIT) in the range of $90 million to $92 million, up from $30.3 million a year earlier.
Arafura Rare Earths Ltd (ASX: ARU)
The Arafura share price has hit a new 52-week high of 63.7 cents today. While there has been no news out of the rare earths developer today, its shares have been on fire since early November. This has been driven by a combination of good progress at the companyâs Nolans project, the positive outlook for rare earths demand, and investments from key backers in the mining space. The latter includes Gina Rinehartâs Hancock Prospecting business taking part in a recent capital raising.
Emerald Resources NL (ASX: EMR)
The Emerald Resources share price has hit a 52-week high of $1.45. Last month, Emerald revealed that it achieved record production of 29,640 ounces of gold during the December quarter. This comes at a time when the gold price is particularly strong, which bodes well for the gold minerâs earnings in the first half.
The post 3 ASX All Ordinaries stocks hitting new 52-week highs today appeared first on The Motley Fool Australia.
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More reading
- Why is the Arafura share price surging 12% to an 11-year high?
- 7%+ dividend yield! Iâd buy this ASX 300 share for passive income in 2023
- Brokers name 3 ASX shares to buy now
- Why Accent, Mineral Resources, Newcrest, and Whitehaven Coal shares are dropping
- Why Accent, Iluka, Myer, and QBE shares are charging higher today
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 recommended Accent Group. 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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