Why Aurelia Metals, Elders, GQG, and Telix shares are storming higher today

The S&P/ASX 200 Index (ASX: XJO) is having a disappointing finish to the week. In afternoon trade, the benchmark index is down 0.7% to 7,760.9 points.

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

Aurelia Metals Ltd (ASX: AMI)

The Aurelia Metals share price is up 16% to 17 cents. This morning, this gold and base metals company released significant results from its recent exploration programs at the Federation deposit. Management notes that two programs in particular have demonstrated the potential for significant further resource growth at Federation. Chief Development and Technical Officer, Andrew Graham, said: “These discoveries have further substantiated our belief in the significant lateral and depth growth potential at the Federation deposit, as we approach development of first stope ore in Q1 FY25.”

Elders Ltd (ASX: ELD)

The Elders share price is up 2% to $9.81. This appears to have been driven by a broker note out of Macquarie this morning. According to the note, the broker has upgraded the agribusiness company’s shares to an outperform rating with an improved price target of $10.45. The broker made the move after boosting its earnings estimates well ahead of consensus expectations due to a better than expected seasonal outlook and higher livestock prices.

GQG Partners Inc (ASX: GQG)

The GQG Partners share price is up 3% to $2.27. This follows the release of the fund manager’s latest funds under management (FUM) update this morning. According to the update, GQG’s total FUM increased 4.3% month on month to US$143.4 billion. Management has warned investors not to get too excited. It said: “While we have demonstrated a solid start to 2024, net flows in the first quarter of any given year are influenced by seasonality and we caution against simple extrapolation.” Nevertheless, it believes it is well positioned in the market.

Telix Pharmaceuticals Ltd (ASX: TLX)

The Telix Pharmaceuticals share price is up 3% to $12.55. This morning, this biopharmaceutical company released its general meeting presentation ahead of the main event. Management commented: “We see rapid growth in our current and near-term commercial products. By the end of 2024, we expect to have multiple commercial products and considerably expanded territory coverage. As part of growing our revenue streams and maintaining our competitive edge, Telix will invest in products, technologies and service enhancements that enable us to expand our indications for use, reach new customers and deliver new clinical differentiation.”

The post Why Aurelia Metals, Elders, GQG, and Telix shares are storming higher today appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has positions in Telix Pharmaceuticals. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Telix Pharmaceuticals. The Motley Fool Australia has recommended Elders and Telix Pharmaceuticals. 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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