Why Catalyst Metals, Lynas, Polynovo, and St George Mining shares are pushing higher today

The S&P/ASX 200 Index (ASX: XJO) is having a poor start to the week. In afternoon trade, the benchmark index is down 0.4% to 8,867.7 points.

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

Catalyst Metals Ltd (ASX: CYL)

The Catalyst Metals share price is up 6% to $9.53. This morning, this gold miner released drilling results from the Cinnamon trend at the Plutonic Gold Belt. According to the release, the latest drilling results have confirmed a high-grade zone along a 400m strike length, which remains open in both directions. Catalyst’s managing director and CEO, James Champion de Crespigny, commented: “Since Catalyst acquired Plutonic, it has only had the time and capital to explore at Plutonic and Trident. Both Reserves have doubled under Catalyst’s ownership. The next target was Cinnamon. The results today, and those released back in October 2025, suggest the potential to replicate this success again.”

Lynas Rare Earths Ltd (ASX: LYC)

The Lynas Rare Earths share price is up 2% to $15.81. This appears to have been driven by a broker note out of Morgan Stanley this morning. According to the note, the broker has upgraded the rare earths producer’s shares to an overweight rating with a $17.55 price target. Although the broker suspects that Lynas’ quarterly update could fall short of consensus estimates, it believes investors should overlook this. Especially given recent strength in rare earths prices.

Polynovo Ltd (ASX: PNV)

The Polynovo share price is up 3% to $1.24. This has been driven by the release of the medical device company’s half year update. PolyNovo revealed that it achieved unaudited group sales of $68.2 million for the first half of FY 2026. This represents a 26% increase year on year. Including BARDA revenue, total group revenue rose 17.6% to $70.4 million. PolyNovo’s new CEO, Bruce Peatey, said: “We are pleased to see strong growth across key markets, supported by a broader adoption across multiple indications, new products, and expanded geographies—giving us confidence in continued momentum through 2026.”

St George Mining Ltd (ASX: SGQ)

The St George Mining share price is up almost 14% to 12.5 cents. Investors have been buying this mining exploration company after it released strong drilling results from the 100%-owned Araxa Rare Earths and Niobium Project in Brazil. According to the release, the company recorded exceptional assays of very thick and very high-grade rare earths and niobium mineralisation.

The post Why Catalyst Metals, Lynas, Polynovo, and St George Mining shares are pushing higher today appeared first on The Motley Fool Australia.

More reading

• ASX 300 stock jumps 6% on strong half-year results and cash flow surge
• These are the 10 most shorted ASX shares
• Top brokers name 3 ASX shares to buy next week
• ASX 200 materials sector outperforms as mining shares continue their ascent
• Brokers name 3 ASX shares to buy 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 positions in and has recommended PolyNovo. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Lynas Rare Earths Ltd. The Motley Fool Australia has recommended PolyNovo. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.