Why DroneShield, Healius, Newmont, and Paragon Care shares are pushing higher

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is edging higher. At the time of writing, the benchmark index is up slightly to 7,740.6 points.

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

DroneShield Ltd (ASX: DRO)

The DroneShield share price is up 3% to 63.5 cents. This morning, analysts at Bell Potter upgraded this counter drone technology company’s shares to a buy rating with a 90 cents price target. This implies potential upside of over 40%.

Healius Ltd (ASX: HLS)

The Healius share price is up 13% to $1.27. This follows news that its CEO, Maxine Jaquet, has left the company with immediate effect. She has been replaced by the healthcare company’s chief financial officer, Paul Anderson. He will now lead a wide-ranging strategic review of its structure and assets. Healius shares are down approximately 50% over the last 12 months.

Newmont Corporation (ASX: NEM)

The Newmont share price is up 5% to $51.19. Investors have been buying Newmont and other ASX gold shares on Tuesday after the gold price hit its highest level ever. According to CNBC, the gold futures contract for April gained 1.46% or US$30.60 to settle at US$2,126.30. This is the highest level since the contract’s creation in 1974. Rate cut optimism boosted the precious metal.

Paragon Care Ltd (ASX: PGC)

The Paragon Care share price is up almost 37% to 28 cents. This follows news that the healthcare supplier has agreed to merge with CH2 Holdings. It is a privately owned, Australian based distributor and wholesaler of pharmaceuticals, medical consumables, and complementary medicines. The combined entity is expected to have pro-forma revenues of $3.3 billion and EBITDA of $93 million in FY 2024.

The post Why DroneShield, Healius, Newmont, and Paragon Care shares are pushing higher appeared first on The Motley Fool Australia.

(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(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Guess which ASX small cap stock is rocketing 27% on ‘transformative’ merger
• Beaten-up ASX 200 stock jumps 14% on CEO resignation
• Why this leading broker just upgraded DroneShield shares
• The gold price just reached its highest level ever: Which miners are buys?
• ASX 200 gold shares are booming on Monday. Here’s why they could keep shining bright

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 DroneShield. 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/80RSvMx