In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to end its winning run with a small decline. At the time of writing, the benchmark index is down 0.3% to 7,214.9 points.
Four ASX shares that are not letting that hold them back are listed below. Hereâs why they are pushing higher:
Bega Cheese Ltd (ASX: BGA)
The Bega Cheese share price is up 3% to $3.74. This morning, analysts at Bell Potter retained their buy rating on the diversified food company’s shares with an improved price target of $4.10. It said: âIn our view the exposure of BGA to relatively stronger commodities (cream cheese and Mozzarella) against the backdrop of commodity driven weaker southern farmgate prices could see EBITDA approach previous BGA-LDD targets of $200-220m.â
Elanor Investors Group (ASX: ENN)
The Elanor Investors share price is up 12% to $1.66. This follows news that the investment company is acquiring the real estate funds management business of Challenger Ltd (ASX: CGF). Elanor is paying $41.8 million in scrip for the business. This will see Challenger become Elanorâs largest shareholder with an 18.2% stake.
Neometals Ltd (ASX: NMT)
The Neometals share price is up 6% to 60.5 cents. This morning, this battery materials company announced that it will be increasing its ownership in the Vanadium Recovery Projectâs incorporated joint venture company, Recycling Industries Scandinavia, to 72.5%. The joint venture is currently working towards a final investment decision to construct a facility in Pori, Finland that will process and recover high-purity vanadium pentoxide.
Talga Group Ltd (ASX: TLG)
The Talga share price is up 4% to $1.68. Investors have been buying this graphite developerâs shares after it announced the receipt of an environmental permit for the Nunasvaara South natural graphite mine. It is part of the companyâs vertically integrated Vittangi Anode Project in northern Sweden.
The post Why Bega Cheese, Elanor Investors, Neometals, and Talga shares are pushing higher appeared first on The Motley Fool Australia.
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More reading
- Elanor Investors share price surges 17% on $3.4 billion Challenger funds deal
- Guess which ASX 300 battery stock is soaring 18% on a âkey approvalâ
- 2 ASX 200 directors buying up their company shares this week
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 Challenger. 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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