The S&P/ASX 200 Index (ASX: XJO) has risen more than 0.3% today, following a day of green yesterday as well. In line with this, many individual companies are rising as a result.
Below, we take a closer look at two ASX shares making new all-time highs today.
REA Group Limited (ASX: REA)
REA Group is a multinational digital advertising business specialising in real estate. The company runs realestate.com.au, realcommercial.com.au and flatmates.com.au. Between them, these three websites operate Australia’s top residential, commercial and share property advertising businesses.
In addition to these well-known brands, the company owns an Australian ‘co-working’ space website called spacely.com.au.
Overseas, the company’s Asian operations in the property space are extensive and stretch across Malaysia, Hong Kong, Indonesia, Singapore, China and Thailand. Not only does the REA Group own and operate this large portfolio, but it also owns significant share portfolios in related companies in the United States and India.
The REA Group share price has been strong in 2020, rising more than 34%. In fact, since the March lows, it has made gains of 126%. Today, the intraday REA Group share price reached as high as $143.99, exceeding its previous high of $142.47 to secure a new record this morning.
However, the REA Group share price has since pulled back slightly and is up by 1.15% to $141 per share at the time of writing.
Only yesterday the REA Group share price dipped lower by 1.31% following its AGM. It seems investors may have a renewed sense of confidence today, pushing the price to new heights.
Chalice Gold Mines Limited (ASX: CHN)
Another ASX share making all-time highs today is Chalice Gold Mines. Chalice Gold Mines operates a mineral exploration company, exploring for gold, copper, cobalt, palladium, and nickel deposits. One of its main properties is the Julimar Nickel-Copper-Platinum group element project located in the Avon Region, Western Australia. Another major project is the Pyramid Hill gold project located in the Bendigo Region, Victoria.
Chalice Gold shares went for a massive 17%+ run in morning trade after new results released today showed positive discoveries for the company’s Julimar Nickel-Copper-Platinum project. Following a close of $3.30 yesterday, the Chalice Gold share price was driven as high as $3.88 today. Chalice Gold’s previous all-time high was $3.55.
Overall this year, the Chalice Gold Mines share price is up a staggering 1,568%. The company now holds a market cap of over $1 billion.
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Motley Fool contributor Glenn Leese has no position in any of the stocks mentioned. The Motley Fool Australia has recommended REA Group Limited. 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.
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