Why Arafura Rare Earths, Imugene, Pilbara Minerals, and Worley are charging higher

high share price

high share price

The S&P/ASX 200 Index (ASX: XJO) is having a subdued session on Tuesday. In afternoon trade, the benchmark index is down 0.2% to 7,262.3 points.

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

Arafura Rare Earths Ltd (ASX: ARU)

The Arafura Rare Earths share price is up 2% to 41.8 cents. This morning, FYI Resources Ltd (ASX: FYI) revealed that it has signed a non-binding co-operation agreement with Arafura to investigate the joint development of the Minhub Mineral Sands Processing facility in Australia’s Northern Territory.

Imugene Limited (ASX: IMU)

The Imugene share price is up 6% to 12.2 cents. This is despite there being no news out of the immuno‐oncology company since last week. That announcement was that its onCARlytics technology was featured in an abstract ahead of the American Society of Gene and Cell Therapy’s Annual Meeting on 16 May to 20 May. That event is getting closer.

Pilbara Minerals Ltd (ASX: PLS)

The Pilbara Minerals share price is up 1.5% to $4.66. Investors have been buying Pilbara Minerals and other ASX lithium shares today amid optimism that prices of the battery making ingredient are rebounding.

Worley Ltd (ASX: WOR)

The Worley share price is up 2% to $16.33. This follows the release of the engineering company’s investor day presentation. At the event, Worley revealed that its expectations for FY 2023 remain consistent with the outlook presented with its half-year results. It also advised that its pipeline was up 36% year-to-date at the end of March. Another positive is that sustainability wins were up 115% on the prior corresponding period year-to-date.

The post Why Arafura Rare Earths, Imugene, Pilbara Minerals, and Worley are charging higher appeared first on The Motley Fool Australia.

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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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