Why InvoCare, Newcrest, Silver Lake, and Silver Mines shares are rising today

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to start the week with a modest decline. At the time of writing, the benchmark index is down a touch to 7,255.8 points.

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

InvoCare Limited (ASX: IVC)

The InvoCare share price is up 12% to $12.43. This follows news that the funerals company has received an improved non-binding takeover offer from TPG Global. The private equity firm has made a $13.00 cash per share offer to acquire the company. This is up from its previous offer of $12.65, which was rejected by InvoCare.

Newcrest Mining Ltd (ASX: NCM)

The Newcrest share price is up 1.5% to $28.62. Investors have been buying this gold miner’s shares after it announced that it has entered into a scheme of arrangement with fellow gold miner Newmont. The scheme will see Newmont take over the miner for the equivalent of $29.27 per share. This implies an enterprise value of $28.8 billion.

Silver Lake Resources Ltd (ASX: SLR)

The Silver Lake Resources share price is up over 7% to $1.09. Interestingly, this rise comes after Silver Lake was outbid for the Leonora assets of St Barbara Ltd (ASX: SBM). It seems as though the market was not convinced that the acquisition of these assets would add sufficient value.

Silver Mines Ltd (ASX: SVL)

The Silver Mines share price is up 4.5% to 22.5 cents. This morning, this silver miner revealed bonanza grade silver from the Aegean Zone at the Bowdens Silver Deposit. Management notes that this new drill intercept is situated at the northern edge of the recently announced mineral resource estimate. As a result, it provides further extensional exploration targets.

The post Why InvoCare, Newcrest, Silver Lake, and Silver Mines shares are rising today appeared first on The Motley Fool Australia.

Wondering where you should invest $1,000 right now?

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes could be the ‘five best ASX stocks’ for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now…

See The 5 Stocks
*Returns as of April 3 2023

(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

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/sTKqEgh

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s