Why Core Lithium, Neuren, Norwest, and Pilbara Minerals shares are pushing higher

The S&P/ASX 200 Index (ASX: XJO) is out of form on Tuesday and on course to record a disappointing decline. In afternoon trade, the benchmark index is down 0.5% to 7,345.8 points.

Four ASX shares that are not letting that hold them back today are listed below. Here’s why they are rising:

Core Lithium Ltd (ASX: CXO)

The Core Lithium share price is up 7.5% to 99.5 cents. Investors have been buying this lithium miner’s shares after it announced a “fantastic outcome for shareholders.” That outcome was a significant jump in its Finniss Lithium Operation’s mineral resource estimate. It has lifted to 30.6 million tonnes at 1.31% lithium oxide, which is a 62% improvement.

Neuren Pharmaceuticals Ltd (ASX: NEU)

The Neuren Pharmaceuticals share price is up 5.5% to $14.21. This morning, this pharmaceutical company announced that its North America partner Acadia Pharmaceuticals (NASDAQ: ACAD) has officially launched its Daybue product for the treatment of Rett syndrome. This has triggered a US$40 million milestone payment to Neuren.

Norwest Energy NL (ASX: NWE)

The Norwest Energy share price is up 4% to 6.35 cents. This morning, this energy company recommended that its shareholders accept the takeover offer from Mineral Resources Ltd (ASX: MIN). That offer is for one Mineral Resource share for every 1,300 Norwest shares they own.

Pilbara Minerals Ltd (ASX: PLS)

The Pilbara Minerals share price is up 4% to $3.95. This appears to have been driven by the release of a broker note out of UBS this morning. According to the note, the broker has upgraded this lithium miner’s shares to a buy rating with a $4.60 price target. Although the broker has reduced its near term lithium forecasts, it has boosted its long term assumptions. Following this action the broker sees value in its shares.

The post Why Core Lithium, Neuren, Norwest, and Pilbara Minerals shares are pushing higher appeared first on The Motley Fool Australia.

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More reading

• Core Lithium share price leaps 5% on ‘fantastic outcome for shareholders’
• Morgans says the Pilbara Minerals share price can rise 40%
• A ‘new entry point’ just opened for 2 ASX 200 shares with strong outlooks
• Here are the 3 most heavily traded ASX 200 shares on Monday
• If I’d invested $1,000 in Liontown shares at the start of 2023, here’s what I’d have now

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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