These were the best performing ASX 200 shares in November

The S&P/ASX 200 Index (ASX: XJO) was on form again in November and charged notably higher. The benchmark index rose 6.1% to finish at 7,284.2 points.

While a good number of shares climbed higher with the market, some recorded particularly strong gains during the month. Here’s why these were the best performers on the ASX 200 last month:

Sandfire Resources Ltd (ASX: SFR)

The Sandfire share price was the best performer on the ASX 200 in November with a 45.2% gain. This follows a very eventful month for the copper miner, which included the appointment of a new CEO and completion of a $147 million institutional entitlement offer. But the key driver of its strong share price gain was a rebound in the copper price during the month.

Origin Energy Ltd (ASX: ORG)

The Origin Energy share price wasn’t far behind with a stunning gain of 41.1%. The catalyst for this was news that the energy company has received an indicative, conditional, and non-binding proposal from Brookfield Asset Management and MidOcean Energy to acquire it for $9.00 cash per share. This represented a premium of almost 55% to its last close price.

Champion Iron Ltd (ASX: CIA)

The Champion Iron share price was on form and charged 35.9% higher during the month. Investors were buying this Canadian iron ore miner’s shares after the steel making ingredient rebounded strongly. After starting the month at around US$80 a tonne, the iron ore price climbed above US$100 a tonne at the end of it.

Nickel Industries Ltd (ASX: NIC)

The Nickel Industries share price was a strong performer and recorded a 33.6% gain last month. This was driven by news that the company’s 70%-owned Oracle Nickel Project within the Indonesia Morowali Industrial Park in Central Sulawesi has produced its first batch of nickel pig iron. A bullish note out of Bell Potter may also have given its shares a lift. The broker has reiterated its buy rating and lofty $1.71 price target on the nickel producer’s shares.

The post These were the best performing ASX 200 shares in November appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• 5 things to watch on the ASX 200 on Thursday
• Here are the top 10 ASX 200 shares today
• Here are the 3 most heavily traded ASX 200 shares on Wednesday
• Why are ASX 200 coal shares burning brighter on Wednesday?
• Why did Telstra have a mediocre performance in November?

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.

from The Motley Fool Australia https://ift.tt/0tvqxG4