In late morning trade the S&P/ASX 200 Index (ASX: XJO) has fought back from an early decline and is pushing higher. At the time of writing the benchmark index is up 0.2% to 6,034.2 points.
Four shares that are climbing more than most today are listed below. Here’s why they are storming higher:
The Lynas Corporation Ltd (ASX: LYC) share price has jumped 12% to $2.43. Investors have been buying the rare earths producer’s shares after it announced a contract with the U.S. Department of Defense. According to the release, the contract will see Lynas complete a detailed market and strategy study plus detailed planning and design work for the construction of a Heavy Rare Earth separation facility.
The Northern Star Resources Ltd (ASX: NST) share price has climbed 3.5% to $16.04. Investors have been buying Northern Star’s shares after the gold price broke through the US$1,900 an ounce level and hit a record high. Traders were buying the precious metal amid concerns over rising tensions between the United States and China.
The REA Group Limited (ASX: REA) share price has risen over 3% to $110.90. This follows the release of a broker note out of Credit Suisse this morning. Although it has concerns over property volumes because of the pandemic, it expects price increases to support yield growth. And while the broker has retained its neutral rating, it has lifted its price target from $94.50 to $110.30.
The Sezzle Inc (ASX: SZL) share price is up 1.5% to $8.02. Investors have been buying the buy now pay later provider’s shares after the release of its second quarter update. During the second quarter, Sezzle delivered underlying merchant sales (UMS) of US$188 million. This was a 57.5% increase on the first quarter and a 348.6% lift on the prior corresponding period. This was driven by strong growth in customer and merchant numbers.
5 stocks under $5
We hear it over and over from investors, “I wish I had bought Altium or Afterpay when they were first recommended by The Motley Fool. I’d be sitting on a gold mine!” And it’s true.
And while Altium and Afterpay have had a good run, we think these 5 other stocks are screaming buys. And you can buy them now for less than $5 a share!
*Extreme Opportunities returns as of June 5th 2020
More reading
- Sezzle share price pushes higher after reporting stellar Q2 growth
- Why the gold price just stormed to a record high
- 5 things to watch on the ASX 200 on Monday
- New tailwind pushes gold price closer to record highs
- These BNPL shares have blown up since their IPOs
James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. recommends Sezzle Inc. The Motley Fool Australia has recommended REA Group Limited and Sezzle Inc. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
The post Why Lynas, Northern Star, REA Group, & Sezzle shares are storming higher appeared first on Motley Fool Australia.
from Motley Fool Australia https://ift.tt/302fSbJ
Leave a Reply