The S&P/ASX 200 Index (ASX: XJO) is having another subdued session on Thursday. In afternoon trade, the benchmark index is down 0.2% to 8,671.1 points.
Four ASX shares that are not letting that hold them back are listed below. Here’s why they are rising:
Capstone Copper Corp (ASX: CSC)
The Capstone Copper share price is up 1.5% to $11.58. This morning, this copper miner released its first-quarter update and reported revenue of US$652.5 million. This is up 22% from US$533.3 million a year earlier. Adjusted net income came in at a record of US$94.8 million and adjusted EBITDA was a record of US$329.1 million. This marks the sixth consecutive quarter of record adjusted EBITDA, driven largely by higher realised copper prices and supportive gold and silver prices.
Gentrack Group Ltd (ASX: GTK)
The Gentrack Group share price is up 2.5% to $4.91. This follows news that the utilities software provider has entered into an agreement to acquire Dubai Technology Partners (DTP). It is a premier airport technology and services provider based in Dubai. Gentrack’s CEO, Gary Miles, said: “DTP is a highly complementary acquisitionâtechnologically, commercially, and culturally. By adding DTP’s technologies to Veovo’s AI-enabled portfolio and leveraging their prestigious expertise, we can deliver smarter, more automated solutions to our 150+ airports worldwide while establishing a powerful growth engine in the Middle East.”
Mineral Resources Ltd (ASX: MIN)
The Mineral Resources share price is up 6% to $65.76. The catalyst for this has been the release of the mining and mining services company’s third-quarter update. That update saw Mineral Resources upgrade its full-year shipments guidance for both Onslow Iron and its lithium operations. In addition, it revealed that costs are tracking to the lower end of its guidance range for Onslow Iron. The company has also lifted its mining services production volume for the financial year.
WiseTech Global Ltd (ASX: WTC)
The WiseTech Global share price is up 6.5% to $44.03. This is despite there being no news out of the logistics solutions technology company on Thursday. However, a bullish broker note out of Morgan Stanley appears to be lifting a number of tech stocks today. It has reaffirmed its overweight rating and $70.00 price target on the company’s shares. The broker believes WiseTech is well-placed to leverage AI to strengthen its market position.
The post Why Capstone Copper, Gentrack, Mineral Resources, and WiseTech shares are racing higher today appeared first on The Motley Fool Australia.
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More reading
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- 2 ASX 200 shares down 50% that I would buy today
- ASX tech stock charges higher on big acquisition news
- This ASX 200 copper stock is pushing higher on record profits
- Mineral Resources shares jump 7% on guidance upgrade
Motley Fool contributor James Mickleboro has positions in WiseTech Global. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Gentrack Group and WiseTech Global. The Motley Fool Australia has positions in and has recommended Gentrack Group and WiseTech Global. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.