It’s a good day to own Liontown Resources Limited (ASX: LTR) stock as the company’s share price launches higher to sit among the S&P/ASX 200 Index (ASX: XJO)’s top performers.
Interestingly, there’s been no news from the battery metals exploration and development company today.
However, the S&P/ASX 200 Resources Index (ASX: XJR) is among the market’s leading sectors.
At the time of writing, the Liontown share price is $2.15, 10.54% higher than its previous close.
However, that’s dipped from its intraday — and all-time — high of $2.19, which represented a 12.3% gain.
Let’s take a closer look at how Liontown’s stock is performing in comparison to the broader market on Monday.
Liontown share price hits new all-time high
The Liontown share price is surging higher as the ASX 200 records a strong start to the week.
Right now, the index is up 0.33% while all but two of its sectors trade in the green.
Perhaps unsurprisingly, Liontown’s stomping ground – the ASX 200 resource sector – is among the better performers, recording a 0.87% gain.
It’s closely followed by the S&P/ASX 200 Materials Index (ASX: XMJ)’s with a 0.81% gain.
Only one ASX 200 share is outperforming Liontown on Monday. The Pendal Group Ltd (ASX: PDL) share price is launching 20% on news it’s received a $2.4 billion takeover offer.
Other ASX 200 lithium shares in the green today include Allkem Ltd (ASX: AKE) and Pilbara Minerals Ltd (ASX: PLS). They’re currently up 8.15% and 6.27% respectively.
Today’s gains included, the Liontown share price is 27% higher than it was at the start of 2022. It has also gained 440% since this time last year.
The post The Liontown (ASX:LTR) share price is surging 11% on Monday appeared first on The Motley Fool Australia.
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More reading
- Lithium boom: Top broker tips Liontown (ASX:LTR) share price to jump 60%
- Experts name 3 of the best ASX lithium stocks to buy now
- These 3 ASX 200 shares are topping the volume charts this Monday
- Why Block, Core Lithium, Liontown, and Qube shares are rising
- ‘Exciting’ results: Here’s why the Liontown (ASX:LTR) share price is climbing 6% today
Motley Fool contributor Brooke Cooper 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 no position in any of the stocks mentioned. 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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