Why Capricorn Metals, Deep Yellow, Pinnacle, and Playside shares are jumping today

The S&P/ASX 200 Index (ASX: XJO) is back on form and charging higher on Friday. In afternoon trade, the benchmark index is up 1.1% to 7,671.4 points.

Four ASX shares that are rising more than most today are listed below. Here’s why they are jumping.

Capricorn Metals Ltd (ASX: CMM)

The Capricorn Metals share price is up 4% to $4.69. This follows a strong session for gold miners and the release of a bullish broker note out of Bell Potter. In respect to the latter, its analysts have retained their buy rating and lifted their price target on the gold miner’s shares to $5.95.

Deep Yellow Limited (ASX: DYL)

The Deep Yellow share price is up 15% to $1.72. Investors have been buying Deep Yellow and other ASX uranium shares today after the world’s largest uranium miner, Kazatomprom, warned that its 2025 production could fall short of guidance. Kazatomprom’s production plans are likely to be impacted by construction delays and sulphuric acid shortages. The latter is used for extracting the chemical element.

Pinnacle Investment Management Group Ltd (ASX: PNI)

The Pinnacle share price is up 9% to $10.90. This has been driven by the release of the investment management company’s half year results. Pinnacle posted a net profit after tax of $30.2 million. This was down slightly from $30.5 million during the prior corresponding period. A fully franked interim dividend of 15.6 cents per share was declared. That’s in line with last year’s interim dividend.

Playside Studios Ltd (ASX: PLY)

The Playside share price is up 7% to 83.5 cents. This morning, this high-flying games developer announced that Fumi Games’ Mouse is the latest title to be signed to its publishing division. The company nots that the official gameplay trailer was released in December and has received 20 million total views across tier one gaming news channels and social media. It is due to be released in 2025.

The post Why Capricorn Metals, Deep Yellow, Pinnacle, and Playside shares are jumping today appeared first on The Motley Fool Australia.

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More reading

• Why are these 5 ASX uranium shares racing higher again today?
• Guess which ASX 200 gold share Bell Potter says is a buy with almost 30% upside
• Up 18% today. Is it too late to buy Deep Yellow shares?
• Pinnacle share price leaps 9% as funds swell above $100 billion
• Brokers name 3 ASX shares to buy 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 positions in and has recommended Pinnacle Investment Management Group. The Motley Fool Australia has positions in and has recommended Pinnacle Investment Management 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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