It’s a good day on the All Ordinaries Index (ASX: XAO) as it’s bolstered by three shares soaring to long-forgotten – or, in some cases, never-before-seen – heights.
Right now, the index is up 1.79% at 6,956 points. That’s around 0.3% lower than it was at last Friday’s close.
So, what’s helping to boost these All Ords shares to multi-year highs today? Keep reading to find out.
3 All Ords shares hitting long-forgotten highs
These three All Ords shares are launching to multi-year, or even record, highs on Friday afternoon.
First off, is the share price of S&P/ASX 200 Index (ASX: XJO) constituent IGO Ltd (ASX: IGO). It lifted 3.8% to hit an all-time high of $15.97 earlier today.
It’s been a good week for the mineral explorer, with its joint venture (JV) partner announcing high-grade lithium assays at the Mt Alexander project on Wednesday.
That was followed up by two more announcements from the company’s other JV partners yesterday. One updated the market on more rare earth finds at the Burracoppin project, while another announced high-priority anomalies at the Narryer nickel-copper-platinum group elements project.
Another ASX All Ords share leaping to a multi-year high on Friday is Monadelphous Group Limited (ASX: MND). The stock surged to $14.05 earlier today, marking a 2.1% jump to its highest point since early 2021.
Interestingly, the market hasn’t heard any news from the engineering group for more than three weeks.
And finally, ASX 200 and All Ords share New Hope Corporation Limited (ASX: NHC) took off to hit an all-time high of $6.95 on Friday. That marks a 3.4% gain.
The company has been quiet over the last few weeks. However, its shares appear to be gaining amid surging coal prices, which will help bolster its bottom line.
Indeed, the coal producer posted a 1,139% year-on-year increase in after-tax profits for the 12 months ended 31 July last month.
The post 3 ASX All Ords shares smashing multi-year highs on Friday appeared first on The Motley Fool Australia.
More reading
- Could Rio Tinto be coming for your ASX lithium shares?
- Guess which ASX lithium share is rocketing 25% on a new, high-grade discovery
- IGO share price in the green on high-grade lithium news
- 2 ASX All Ords shares smashing new 52-week highs today
- This embattled ASX All Ords mining share is gearing up to be a FY23 winner: fundie
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 Scott Phillips.
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