In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a small gain. At the time of writing, the benchmark index is up slightly to 7,239.5 points.
Four ASX shares that are climbing more than most are listed below. Hereâs why they are storming higher:
Core Lithium Ltd (ASX: CXO)
The Core Lithium share price is up 7.5% to 86.5 cents. Investors have been buying this lithium minerâs shares after it released an update on the maiden shipment of spodumene concentrate from the Finniss Lithium Operation in the Northern Territory. Core Lithium revealed that its first 3,500 tonne shipment is ready for export to Yahua in China. This was ahead of schedule, with management previously expecting it to be ready by the end of the month.
Red 5 Limited (ASX: RED)
The Red 5 share price is up 10% to 16.5 cents. This has been driven by the gold miner announcing record production for the month of March. Red 5 produced 17,550 ounces of gold from the King of the Hills Gold Mine in the Eastern Goldfields region of Western Australia. This puts it on course to achieve its second half production guidance of 90,000 to 105,000 ounces at an AISC of A$1,750 to A$1,950 per ounce.
Seek Ltd (ASX: SEK)
The Seek share price is up almost 4% to $24.91. Investors have been buying this job listings companyâs shares after brokers responded positively to its guidance update. Macquarie was pleased with its longer term growth plans and has upgraded its shares to an outperform rating with a $32.50 price target.
Viva Energy Group Ltd (ASX: VEA)
The Viva Energy share price is up 4.5% to $3.22. This morning, this fuel retailer announced an agreement to acquire OTR Group for $1.15 billion. It is a leading independent convenience retailer in Australia, generating more than $3 billion of revenue annually and employing approximately 6,500 people.
The post Why Core Lithium, Red 5, Seek, and Viva Energy shares are storming higher appeared first on The Motley Fool Australia.
FREE Investing Guide for Beginners
Despite what some people may say – we believe investing in shares doesn’t have to be overwhelming or complicated…
For over a decade, we’ve been helping everyday Aussies get started on their journey.
And to help even more people cut through some of the confusion “experts’” seem to want to perpetuate – we’ve created a brand-new “how to” guide.
Yes, Claim my FREE copy!
*Returns as of April 3 2023
(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
- Big Wednesday: 12 ASX 200 stocks cracking new 52-week highs
- Why is the Core Lithium share price soaring 6% today?
- ASX 200 stock Viva Energy hits multi-year high on $1.2 billion acquisition
- 5 things to watch on the ASX 200 on Wednesday
- Why are ASX 200 lithium shares having such a miserable week?
Motley Fool contributor James Mickleboro has positions in Seek. 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 Seek. 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/Koxnru7
Leave a Reply