In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) has bounced back from a very bad start and is edging higher. At the time of writing, the benchmark index is up slightly to 7,254.8 points.
Four ASX shares that are climbing more than most today are listed below. Here’s why they are pushing higher:
Atlas Arteria Group (ASX: ALX)
The Atlas Arteria share price is up over 2% to $6.79. This morning the toll road operator announced its distribution for the first half. According to the release, Atlas Arteria will pay 15.5 Australian cents per stapled security for the six months ended 30 June 2021. This consistent with guidance provided with its half year results announcement.
Baby Bunting Group Ltd (ASX: BBN)
The Baby Bunting share price is up almost 3% to $5.42. This gain appears to have been driven by a broker note out of Citi this morning. According to the note, the broker has upgraded the baby products retailer’s shares to a buy rating with an improved price target of $5.98. It believes recent weakness in its share price has brought it down to an attractive level.
De Grey Mining Limited (ASX: DEG)
The De Grey Mining share price is up 2% to 98.8 cents. This morning the gold explorer announced that good gold recoveries were achieved at the Falcon and Crow deposits. Management notes that the results from Falcon and Crow are consistent with the positive results previously achieved from the Brolga and Aquila zones at Hemi prospect.
New Hope Corporation Limited (ASX: NHC)
The New Hope share price is up over 3.5% to $2.13. Investors have been buying the coal miner’s shares after it reported a big improvement in its full year profits. New Hope revealed a net profit after tax (NAPT) of $79 million for FY 2021. This compares to a loss of $157 million in the previous year. The improvement was driven by strong coal prices and improved costs.
The post Why Atlas Arteria, Baby Bunting, De Grey Mining, & New Hope are pushing higher appeared first on The Motley Fool Australia.
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More reading
- Which ASX 300 shares are the biggest winners and losers on Tuesday?
- ASX 200 (ASX:XJO) midday update: APA makes AusNet bid, New Hope results impress
- 2 strong ASX retail shares that could be buys
- New Hope (ASX:NHC) share price jumps on $337m profit turnaround
- ASX 200 energy shares in firing line of United Nations’ climate action
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 no position in any of the stocks mentioned. The Motley Fool Australia has recommended Baby Bunting. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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