The S&P/ASX 200 Index (ASX: XJO) is out of form on Wednesday. In afternoon trade, the benchmark index is down 0.3% to 7,117.9 points.
Four ASX shares that arenât letting that hold them back today are listed below. Hereâs why they are charging higher:
Arafura Rare Earths Ltd (ASX: ARU)
The Arafura share price has jumped 14% to 40 cents. This appears to have been driven by an announcement yesterday afternoon. That announcement revealed that the Mining Management Plan (MMP) for its 100% owned Nolans Neodymium-Praseodymium (NdPr) project has been approved by the Northern Territory Government.
Nufarm Ltd (ASX: NUF)
The Nufarm share price is up 7% to $5.80. Investors have been buying this agricultural chemicals companyâs shares following the release of its full year results. Nufarm reported a 24% increase in EBITDA to $447 million on revenue of $3.8 billion. The company also spoke positively about FY 2023 and revealed that it is on track to meet or exceed its FY 2026 revenue aspirations.
Pilbara Minerals Ltd (ASX: PLS)
The Pilbara Minerals share price is up 2.5% to $4.95. This morning this lithium miner unveiled its capital management framework. Pilbara Minerals advised that from FY 2023, it intends to pay out 20% to 30% of its free cash flow as dividends.
Whitehaven Coal Ltd (ASX: WHC)
The Whitehaven Coal share price is up 7% to $8.80. This follows a strong rise by the Nymex coal price overnight. In other news, this morning the company revealed that one of its directors has just bought ~$1.2 million worth of shares via an on-market purchase. Whitehaven Coalâs non-executive director, Raymond Zage, picked up 150,000 shares for an average of $8.24 per share.
The post Why Arafura, Nufarm, Pilbara Minerals, and Whitehaven Coal are charging higher appeared first on The Motley Fool Australia.
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More reading
- Why is the Whitehaven share price whizzing 7% higher today?
- Can ASX lithium shares really keep dining out at these price levels?
- The future of ASX lithium shares: Are investors looking through rose-coloured glasses?
- Guess which ASX 200 share just upped its full-year dividend by 150%
- Pilbara Minerals share price higher on maiden dividend news
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 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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