In late morning trade the S&P/ASX 200 Index (ASX: XJO) is on course to record another gain. At the time of writing the benchmark index is up 0.25% to 5,832.9 points.

Four shares that have climbed more than most today are listed below. Here’s why they are pushing higher:

The Amaysim Australia Ltd (ASX: AYS) share price has jumped 11% to 35.5 cents. This follows media speculation that the telco company is about to offload its energy business. Amaysim responded to the speculation by confirming that it engaged Luminis Partners some time ago to assist the board with considering options to unlock shareholder value. This includes looking at options for the energy business. However, it stopped short of confirming that a deal is close to being done.

The Bingo Industries Ltd (ASX: BIN) share price has surged 6% higher to $2.68. The catalyst for this strong gain appears to be a broker note out of Citi on Monday. Its analysts upgraded Bingo’s shares to a buy rating with a $3.10 price target. Citi believes concerns over a market share war are unnecessary and appears positive on margin improvements over the long term.

The Brickworks Limited (ASX: BKW) share price has risen 2.5% to $16.03. This follows the release of a trading update this morning by the building products company. For the four months ending 31 May, its BP Australia sales were down 10% on the prior corresponding period. BP North America sales were up 26% (due to acquisitions) and down 30% on a like for like basis. Some investors may have been expecting worse.

The BlueScope Steel Limited (ASX: BSL) share price has stormed 5% higher to $11.76. Investors have been buying the steel producer’s shares after analysts at Ord Minnett reiterated their accumulate rating and $11.90 price target. According to the note, the broker feels that now could be a good time to invest. It believes the worst is behind the company.

More reading

• Amaysim share price flies 22% higher after confirming interest in its energy business
• I think these 2 ASX 200 shares will beat the market
• Got $50,000 to invest for income? Pick these 5 ASX dividend shares
• How to make $1,000 a month in dividends
• Have $4,000? Invest in these 4 ASX shares right now

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Brickworks. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The post Why Amaysim, Bingo, Brickworks, & BlueScope are pushing higher today appeared first on Motley Fool Australia.

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The Amaysim Australia Ltd (ASX: AYS) share price is flying higher this morning after the company released an announcement in response to recent media speculation. 

Amaysim is a subscription utility provider, delivering mobile and energy plans to customers around the country. The company launched in 2010 and is Australia’s fourth-largest mobile service provider.

At the end of last year, Amaysim had 1.05 million total mobile subscribers and 201,000 energy subscribers.

Why the Amaysim share price is spiking today

This morning, Amaysim responded to recent media speculation about potential interest in its energy business.

“amaysim does, from time to time, receive a broad spectrum of interest in relation to its businesses. It is amaysim’s policy not to comment on, or engage with, market or media speculation,” the announcement read.

Shedding a bit more light, the company said, “as requested by the ASX, the company confirms that it engaged Luminis Partners some time ago to assist the Board with considering options to unlock shareholder value, including in respect of the energy business. A data room is maintained for the purpose of facilitating discussions with interested parties.”

Amaysim closed out the announcement by stating it is pleased with its overall performance in the current environment and confirmed it is in compliance with continuous disclosure obligations under the ASX Listing Rules.

Today’s announcement follows a report from the Australian Financial Review (AFR) last night that Origin Energy Ltd (ASX: ORG) is in the Amaysim data room, preparing a bid for Amaysim’s electricity and gas retailer, Click Energy. Amaysim acquired Click Energy in May 2017 for $120 million.

According to the AFR, the data room was originally set up to gauge investor interest in a potential capital injection or takeover. However, bidders quickly narrowed its sights to Amaysim’s energy operations.

The AFR believes the sale process has entered the second round and suitors have been sinking their teeth into detailed diligence measures. 

After being up by as much as 21.88% in early trade, the Amaysim share price is sitting 15.62% higher at the time of writing at 37 cents per share.

More reading

• Why Amaysim, Bingo, Brickworks, & BlueScope are pushing higher today
• 3 ASX sectors to benefit from local supply chains
• 3 ASX 200 energy shares to buy before crude oil price rises
• Leading fund manager sees good ASX buying opportunities
• Got $2,000? Here are 2 ASX 200 energy shares to buy today

Motley Fool contributor Cathryn Goh has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The post Amaysim share price flies 22% higher after confirming interest in its energy business appeared first on Motley Fool Australia.

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The Newcrest Mining Limited (ASX: NCM) share price has edged 4.10% higher in 2020, but is the ASX gold share in the buy zone?

Why the Newcrest Mining share price has outperformed in 2020

It’s been a reasonably good year for investors in ASX gold shares. The coronavirus pandemic has spooked investors and hurt the global economy. That means shares in Aussie gold miners like Newcrest have managed to outperform the S&P/ASX 200 Index (ASX: XJO).

The index is down nearly 13% this year despite climbing 1.10% higher yesterday. That means the Newcrest Mining share price has outperformed the ASX 200 benchmark by around 17%.

Those are some pretty handy numbers given the current market. As the global gold price continues to climb, so too does Newcrest’s value.

The Aussie gold miner now boasts a $25.1 billion market capitalisation. That means it is well entrenched inside the ASX 50 and could be climbing higher. 

But is now a good time to buy the ASX gold miner?

I personally think Newcrest shares are a touch overvalued right now. Investors are willing to pay a premium for safety, which has pushed Newcrest’s price-to-earnings (P/E) ratio to 28.45. 

With a dividend yield of 1.05%, Newcrest does offer some portfolio income while other ASX shares are slashing distributions. However, I still think there is a bit of panic buying surrounding ASX gold shares right now.

The ASX Resources sector could well outperform in 2020. There is a strong technical environment despite some question marks over exports and our relationship with China.

However, overall commodity prices are high, which is good for the Aussie economy. If the Aussie gold miner can continue production and post good sales numbers in August, the Newcrest Mining share price may be a bargain at $31.09 per share.

Foolish takeaway

The Newcrest Mining share price has managed to edge higher and significantly outperform in 2020. I think whether or not that trend continues is the big question.

In my mind, where the Aussie dollar goes and how geopolitical tensions play out in the coming months will be key.

More reading

• Is the NAB share price cheap today?
• Here are all the ASX 200 companies that announced capital raisings in May
• The big oil price recovery and bounce in ASX oil stocks are bringing out the bears
• 2 ASX 200 shares to watch on Tuesday
• Where to invest $5,000 into ASX 200 shares immediately

Motley Fool contributor Ken Hall has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The post Is the Newcrest Mining share price a buy? appeared first on Motley Fool Australia.

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