Why Core Lithium, Deep Yellow, Iperionx, and Tuas shares are racing higher today

The S&P/ASX 200 Index (ASX: XJO) is having another relatively positive session. In afternoon trade, the benchmark index is up 0.15% to 7,713.9 points.

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

Core Lithium Ltd (ASX: CXO)

The Core Lithium share price is up 4.5% to 16.2 cents. This is despite there being no news out of the struggling lithium miner today. However, prior to today, Core Lithium’s shares had lost a third of their value since this time last month. Some investors may believe that they have been oversold and are snapping them up. This month’s weakness has been driven by the release of its results and concerns that its mining operations may remain suspended for some time to come.

Deep Yellow Limited (ASX: DYL)

The Deep Yellow share price is up 6% to $1.30. This may have been driven by the release of a bullish broker note out of Bell Potter this morning. According to the note, the broker has retained its speculative buy rating on the uranium developer’s shares with an improved price target of $1.90. This implies potential upside of 45% for investors from current levels. The broker said: “We see DYL as being attractively positioned in a rising uranium bull market, capable of delivering the next wave of supply into an increasingly tight market.”

Iperionx Ltd (ASX: IPX)

The Iperionx share price is up 11% to $2.22. This also appears to have been caused by a broker note out of Bell Potter. This morning, its analysts initiated coverage on the titanium products company’s shares with a speculative buy rating and $3.70 price target. This suggests further upside of approximately 67% for investors. Bell Potter said: “IPX has the potential to disrupt the incumbent titanium supply chain through materially lowering production costs and manufacturing waste.”

Tuas Ltd (ASX: TUA)

The Tuas share price is up 12% to $3.77. This follows the release of the Singapore-based telco’s half-year results this morning. Tuas reported a 38% increase in revenue to S$54.7 million and a 56% jump in EBITDA over the prior corresponding period to S$22.4 million. This was driven by its growing subscriber base.

The post Why Core Lithium, Deep Yellow, Iperionx, and Tuas shares are racing higher today appeared first on The Motley Fool Australia.

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More reading

• Why this ASX 300 uranium stock could rocket 45%
• Why Arafura Rare Earths, Core Lithium, Goodman, and Superloop shares are falling today
• These are the 10 most shorted ASX shares
• Why are ASX lithium shares being annihilated on Friday?
• Why Beach, Clinuvel, Deep Yellow, and EML shares are charging higher today

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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