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The market may have tumbled lower in September, but that didn’t stop a number of shares in the lithium sector from charging higher.

Among the movers, a few really stood out. Here’s why these were the best performing lithium shares in September:

Ioneer Ltd (ASX: INR)

The Ioneer share price was the best performer among the lithium miners last month with a 54% gain. Some of this appears to have been driven by the announcement of an agreement to form a joint venture with Sibanye Stillwater to develop the flagship Rhyolite Ridge Lithium-Boron Project in Nevada, USA. According to the release, Sibanye-Stillwater will contribute US$490 million for a 50% interest in the joint venture. Ioneer will maintain a 50% interest and retain operatorship. The agreement also gives Sibanye-Stillwater an option to participate in 50% of the North Basin operation.

Liontown Resources Ltd (ASX: LTR)

The Liontown Resource share price was a strong performer last month with a 48% gain. There were a few catalysts for this gain. One was news that the emerging lithium producer is planning to separate its non-lithium assets in the coming weeks. This will allow the company to focus on its wholly-owned Kathleen Valley Lithium Project. Another positive supporting its shares was its addition to the ASX 300 index at the quarterly rebalance.

Novonix Ltd (ASX: NVX)

The Novonix share price wasn’t far behind with a 47% gain. Investors have been buying the battery technology company’s shares since it announced an agreement with Phillips 66 in August. That agreement saw the US energy giant acquire a 16% stake in Novonix. Phillips 66 expects the deal to support its development of an entirely domestic supply chain for the growing US electric vehicle (EV) market. Whereas Novonix revealed that the investment will provide it with the capital needed to support growth and ongoing R&D. This includes the scaling of its synthetic graphite production and the development of new technologies for higher-performance energy storage applications. Novonix was also added to the ASX 300 index.

AVZ Minerals Ltd (ASX: AVZ)

The AVZ share price was on form and surged 37% higher in September. A key driver of this gain was an announcement late in the month from the lithium developer. AVZ announced a transaction implementation agreement with Suzhou CATH Energy Technologies (CATH) that will see CATH pay US$240 million in cash for a 24% equity interest in a multi-faceted joint venture to develop the Manono Lithium and Tin Project. CATH will also contribute its pro rata portion of funding for the development of the project in the Democratic Republic of the Congo.

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

More reading

• Why the Novonix (ASX:NVX) share price rocketed 47% higher in September
• Which ASX 300 shares are leading the way mid-week?
• Why the Novonix (ASX:NVX) share price is climbing among a sea of red on Wednesday
• Which ASX shares are the top movers in the ASX 300 today?
• Why AVZ, Flight Centre, Fortescue, & Sigma shares are storming higher

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 Bruce Jackson.

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The Woodside Petroleum Limited (ASX: WPL) share price is currently rated as a buy by one of the leading brokers.

That broker is UBS.

The price target on Woodside is $25.50. That suggests that the broker believes Woodside shares could rise more than 7% over the next 12 months, if the broker is right.

Expectations of a rising oil price are leading to the broker believing that Woodside can generate more profit.

Using the current estimates, UBS puts the Woodside share price at 16x FY21’s estimated earnings with a potential grossed-up dividend yield of 9.2%.

What is going on for Woodside Petroleum?

Woodside announced a game-changing move in the middle of August 2021.

It revealed that it was going to merge with the oil and gas business of BHP Group Ltd (ASX: BHP). This deal would create a global top 10 independent energy company by production.

Woodside will be issuing new shares to be distributed to BHP shareholders. The expanded Woodside would be owned 52% by existing Woodside shareholders and 48% by existing BHP shareholders.

This merger will create a business that has a “high margin oil portfolio, long life LNG assets and the financial resilience to help supply the energy needed for global growth and development over the energy transition.”

Woodside also broke down some of the reasons and benefits of the deal:

• Greater scale and diversity of geographies, products and end markets through an attractive and long-life conventional portfolio.
• Resilient, high margin operating cashflows to fund shareholder returns and business evolution to support the energy transition.
• Strong growth profile with a plan to achieve targeted Scarborough final investment decision in the 2021 calendar year and capacity to phase the most competitive, high-return options within the portfolio.
• Estimated synergies of more than US$400 million per annum from optimising corporate processes and systems, leveraging combined capabilities and improving capital efficiency on future growth projects and exploration.

This merger could have an important impact on the Woodside Petroleum share price if/when it goes ahead.

HY21 result

Woodside has a financial year that lines up with the calendar year. So, in August it reported its half-year result.

That result showed that it recorded a half-year net profit after tax (NPAT) of US$317 million. Underlying net profit after tax was US$354 million, up 17% on HY20. Operating revenue increased 31% year on year to US$2.5 billion thinks to higher prices, with sales volume increasing 6% to 53.9 million barrels of oil equivalent for the half.

It also generated $1.32 billion of operating cashflow and free cashflow of $311 million.

Based on that result, the directors decided to declare an interim dividend of US$0.30 per share, which was a payout of approximately 80% of underlying net profit after tax.

Longer-term valuation on the Woodside Petroleum share price

UBS thinks that Woodside shares are valued at 14x FY22’s estimated earnings, with a projected forward grossed-up dividend yield of 12.5%.

The post The Woodside Petroleum (ASX:WPL) share price is a buy – broker appeared first on The Motley Fool Australia.

More reading

• Guess which sector September’s top performing ASX 200 shares all came from
• These were the 5 best performing ASX 200 shares in September
• 5 things to watch on the ASX 200 on Friday
• It’s been a great week so far for the Woodside (ASX:WPL) share price
• These 2 ASX shares have been rated as buys by leading brokers

Motley Fool contributor Tristan Harrison 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 Bruce Jackson.

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The Australian share market is home to a number of companies growing at a rapid rate.

Three that could be well-placed to grow strongly over the 2020s are listed below. Here’s what you need to know about these growing shares:

Bigtincan Holdings Ltd (ASX: BTH)

The first growth share to look at is Bigtincan. It is a leading sales enablement platform provider that has been growing strongly in recent years. For example, in FY 2021, the company reported a 48% increase in annualised recurring revenue (ARR) to $53.1 million. Positively, even stronger growth is expected in FY 2022. This is thanks partly to its acquisition of US-based Brainshark. It is an industry-recognised and multi-awarded leader in its field of sales coaching, learning and readiness. Management expects combined ARR of $119 million in FY 2022, which will be up 124% year on year.

Morgan Stanley is very positive on the company. It currently has an overweight rating and lofty $2.10 price target on its shares.

Hipages Group Holdings Ltd (ASX: HPG)

Another ASX growth share to look at is Hipages. It is a leading Australian-based online platform and software as a service provider connecting consumers with trusted tradies. It currently boasts over 34,000 tradies using the platform and is generating significant leads for them. For example, in FY 2021, the company reported a 12% increase in job volumes to 1.53 million. This helped underpin a 22% increase in full year revenue to $55.8 million. This is well short of the total addressable market (TAM) of the tradie ecosystem, which is estimated to be $110 billion across the residential and commercial sectors.

Goldman Sachs currently has a buy rating and $4.35 price target on its shares.

IDP Education Ltd (ASX: IEL)

A final ASX growth share to look at is IDP Education. It is a provider of international student placement services and English language testing services. While COVID-19 was a big blow for the company, it is expected to come out of the crisis with a much stronger market position. Especially following its key acquisition in the lucrative India market. As a result, analysts are tipping the company to grow at a very strong rate over the coming years.

UBS is positive on IDP Education and has a buy rating and $36.40 price target on its shares.

The post 3 rapidly growing ASX shares to buy in October appeared first on The Motley Fool Australia.

More reading

• Top ASX shares to buy in October 2021
• Bigtincan (ASX:BTH) share price dips despite new contract
• The IDP Education (ASX:IEL) share price just hit an all-time high. Here’s why
• 3 ASX shares with bags of potential
• 3 rapidly growing ASX tech shares to buy

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. owns shares of and has recommended BIGTINCAN FPO, Hipages Group Holdings Ltd., and Idp Education Pty Ltd. The Motley Fool Australia owns shares of and has recommended BIGTINCAN FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The S&P/ASX 200 Index (ASX: XJO) was well and truly out of form last week. The benchmark index lost 2% of its value and ended the period at 7,185.5 points.

While a good number of shares tumbled lower with the market, some fell more than most. Here’s why these were the worst performers on the ASX 200 last week:

NEXTDC Ltd (ASX: NXT)

The NEXTDC share price was the worst performer on the ASX 200 last week with a decline of 12.7%. This was despite there being no news out of the data centre operator. However, tech shares were sold off last week amid the market volatility. This was especially the case for tech shares trading on high multiples like NEXTDC.

Mineral Resources Limited (ASX: MIN)

The Mineral Resources share price was out of form and tumbled 9.9% lower last week. This mining and mining services company’s shares were the subject of a bearish broker note last week out of Morgan Stanley. According to the note, the broker has retained its underperform rating and cut its price target on Mineral Resources’ shares to $41.00. The broker thinks investors should stay away from miners with exposure to low grade iron ore.

Afterpay Ltd (ASX: APT)

The Afterpay share price wasn’t far behind with a decline of just under 9.9% over the five days. This decline was driven by weakness in the Square share price last week. The payments giant’s shares lost 9.5% of their value over the Friday to Thursday (24 to 30 September) trading sessions. And as Square is acquiring Afterpay in an all-scrip deal, the value of the takeover changes with the Square share price.

HUB24 Ltd (ASX: HUB)

The HUB24 share price was out of form and dropped 9.6% over the period. Significant weakness in the tech sector even offset a bullish broker note out of Citi last week. According to that note, the broker has retained its buy rating and $32.00 price target on HUB24’s shares. It believes the investment platform provider is well-placed to grow its earnings at a strong rate over the medium term.

The post These were the worst performing ASX 200 shares last week appeared first on The Motley Fool Australia.

More reading

• These were the best performing ASX 200 shares last week
• Here are the top 10 ASX shares today
• The Flight Centre (ASX:FLT) share price is in the green today. Here’s why
• Why the Webjet (ASX:WEB) share price is on the rise today
• ASX 200 (ASX:XJO) midday update: Gold miners jump, Pro Medicus wins contract

Motley Fool contributor James Mickleboro owns shares of NEXTDC Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended AFTERPAY T FPO and Hub24 Ltd. The Motley Fool Australia owns shares of and has recommended AFTERPAY T FPO. The Motley Fool Australia has recommended Hub24 Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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In the current economic environment, interest rates are at all-time lows. The current cash rate is sitting at just 0.1%, which is pretty much zero for all intents and purposes.

That means traditional ‘safe’ investments like savings accounts and term deposits aren’t offering anything close to the yields they used to. So, what are investors to do if they want to at least keep up with inflation? ASX dividend shares could be the answer.

There are more than a few dividend shares offering fully franked yields of 5% or more today. Here are two of them.

2 ASX dividend shares with fully franked yields of more than 5%

Telstra Corporation Ltd (ASX: TLS)

Telstra is our first ASX dividend share to check out today.

This ASX 200 telco has long been known for its income-producing qualities, and it’s no different today. Telstra has paid out an annual dividend of 16 cents per share, fully franked, for a few years now. Further, it has indicated that maintaining or even increasing this dividend is on the cards in 2022.

So, with this 16 cents per share payout, Telstra shares are currently offering up a dividend yield of 4.1% on recent pricing. That is a pleasing grossed-up dividend yield of 5.86% if you include the value of those full franking credits.

WAM Research Limited (ASX: WAX)

Another ASX share to check out today is the listed investment company (LIC) WAM Research.

This LIC invests in a portfolio of small and mid-cap shares with an industrial bent. It currently holds companies like Webjet Limited (ASX: WEB), Codan Limited (ASX: CDA) and Nextdc Ltd (ASX: NXT). WAM Research has amassed a reputation as a payer of hefty dividends over the past decade or so.

Its past two shareholder payments were 4.9 and 4.95 cents per share respectively. That gives this company a dividend yield of 5.63% on recent pricing. Gross that up with the full franking credits that WAM Research typically pays, and we get a gross yield of 8.04%.

The post 2 ASX dividend shares with fully franked yields of more than 5% today appeared first on The Motley Fool Australia.

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• Did Optus just get a better deal than Telstra (ASX:TLS) for its towers?
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• 3 reasons why the Telstra (ASX:TLS) share price could be a buy
• Telstra (ASX:TLS) share price lifts as CFO reiterates confidence in dividend growth
• Telstra (ASX:TLS) share price lower despite retail shareholder update

Motley Fool contributor Sebastian Bowen owns shares of Telstra Corporation Limited and WAM Research Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Telstra Corporation Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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It was a very volatile five days for the S&P/ASX 200 Index (ASX: XJO) last week. The benchmark index ultimately shed 2% of its value to end the period at 7,185.5 points.

The good news is that not all shares dropped with the market. Here’s why these were the best performers on the ASX 200 last week:

Beach Energy Ltd (ASX: BPT)

The Beach Energy share price was the best performer on the ASX 200 last week with a 19.8% gain. Investors were buying the energy producer’s shares following the release of an investor update. Beach has outlined its low risk strategy to achieving production of 28 MMboe by FY 2024. This will be a 27% increase on the midpoint of its FY 2022 production guidance of 21 to 23 MMboe. Management also advised that this target doesn’t include exploration upside and pre-final investment decision projects.

Orica Ltd (ASX: ORI)

The Orica share price wasn’t far behind with a gain of 17.5% over the five days. The catalyst for this was a positive response from brokers to the commercial explosives company’s trading update. One of those brokers was Morgans. According to the note, the broker has upgraded Orica’s shares to an add rating with a $13.70 price target. Morgans said: “We think the earnings downgrade cycle which have plagued ORI for the last few years is now finally over.”

Flight Centre Travel Group Ltd (ASX: FLT)

The Flight Centre share price was on form and charged 10.2% higher last week. Investors were buying travel shares thanks to the positive progress being made with the vaccine rollout and the announcement of state reopening plans. The Federal Government’s announcement of a return to international travel also gave Flight Centre’s shares a boost on Friday when the market tumbled.

A2 Milk Company Ltd (ASX: A2M)

The A2 Milk share price was a strong performer and charged 9.4% higher over the five days. This appears to have been driven by a broker note out of Citi. According to the note, the broker suspects that there could be more bad news looming for the infant formula company. However, it also suspects that any share price weakness could lead to a takeover approach. The broker has a buy rating and $7.20 price target on a2 Milk’s shares.

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

More reading

• Here are the top 10 ASX shares today
• Here are the 3 most active ASX 200 shares this Friday
• The Flight Centre (ASX:FLT) share price is in the green today. Here’s why
• Why the Webjet (ASX:WEB) share price is on the rise today
• ASX 200 (ASX:XJO) midday update: Gold miners jump, Pro Medicus wins contract

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 recommended A2 Milk and Flight Centre Travel Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The National Australia Bank Ltd (ASX: NAB) share price was a relatively positive performer in September.

What happened to the NAB share price in September?

Although the banking giant’s shares gained just under 0.5%, this was actually much better than the S&P/ASX 200 Index (ASX: XJO). The benchmark index lost 2.6% of its value during the month.

Though, one slight disappointment is that the NAB share price was performing far more positively until market volatility hit.

In fact, NAB’s shares were up as much as 4% to a 52-week high of $28.88 at one stage before ultimately giving back most of these gains.

What did brokers say last month?

Interestingly, NAB’s shares were the subject of two very different broker notes last month.

At the very start of the month, the team at Ord Minnett upgraded NAB’s shares to an accumulate rating with a $29.50 price target.

Based on the current NAB share price of $27.27, this implies potential upside of 8% before dividends.

And if you include the $1.36 per share fully franked dividend Ord Minnett is forecasting in FY 2022, this potential return stretches to ~13%.

That’s not a bad return. Especially when you consider that the NAB share price is up a sizeable 19% in 2021.

What else was said?

Elsewhere, in the middle of the month, the team at Credit Suisse downgraded the company’s shares to a neutral rating with a $28.50 price target.

The broker made the move largely on valuation grounds following a strong run by the bank’s shares.

Credit Suisse believes NAB’s improved operating performance is now priced into its shares. It also highlights that its shares traditionally trade at a slight discount to the rest of the big four. However, they were trading in line with them at the time of the broker’s downgrade.

The post How did the NAB (ASX:NAB) share price perform in September? appeared first on The Motley Fool Australia.

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• Why these experts think the NAB (ASX:NAB) share price is on the way up
• Why we favour 2 of 4 big bank ASX shares: fund manager

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 Bruce Jackson.

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The technology sector can be a fertile place to look for opportunities. ASX tech shares may be a good industry to look for good ideas.

Businesses in the tech sector may be able achieve good operating margins because of the intangible nature of it. That intangible part also means that businesses can grow quickly because they can very easily replicate that software.

Here are two ASX tech shares to consider:

ELMO Software Ltd (ASX: ELO)

ELMO Software is a business that offers cloud-based services for small businesses and mid-market organisations to manage people, processes, pay and expenses. It operates a software as a service (SaaS) model across Australia, New Zealand and the UK.

In FY21, it generated revenue of $69.1 million, which was an increase of 38.1%. Its annualised recurring revenue (ARR) increased by 52.1% to $83.8 million.

The last financial year saw the business generate positive earnings before interest, tax, depreciation and amortisation (EBITDA) of $0.4 million, up $3.3 million from the prior year. That’s after spending a lot on growth.

ELMO Software sometimes launches a new module for businesses to utilise on top of existing services, which can increase the value to the customer, and increase the revenue from that customer. It recently launched COVIDsecure, which enables businesses to record, monitor and report on their employees COVID vaccination and test status.

Despite the growth and progress that ELMO Software is making, the ASX tech share has seen its share price fall by 32% since the start of the year.

Management say that returning business confidence and the increase in remote based working is driving the adoption of cloud-based business tools, including HR technology. The company said FY22 is shaping up to be a good year for ELMO, across both the mid-market and small business segments.

In FY22 it’s expecting to report revenue of at least $90.5 million and EBITDA of at least $1 million. The ARR is expected to reach between $105 million to $111 million.

Volpara Health Technologies Ltd (ASX: VHT)

Volpara is another ASX tech share that could be worth looking at. It is in the healthcare space, providing breast screening software.

The company has also started making connections in the lung cancer screening space. It has announced partnerships with other leading organisations that can improve its offering and effectiveness including RevealDx and Natera.

Volpara’s breast screening segment is what is currently driving the business revenue higher. It has reached coverage of 33% of US women being screened. The company measures its average revenue per user (ARPU), which it sees as an important driver of future growth. In the first quarter of FY22, the ARPU was US$1.42. The average ARPU in the first quarter was US$1.55. ARPU of up to US$5.87 was achieved at some sites.

Its SaaS church continues to remain low, whilst the gross profit margin is above 90%.

Volpara’s ARR has reached US$19.2 million in the first quarter. In FY22 its focus is risk and genetics. The company said that US states moving more strongly in that direction will continue to help drive and accelerate growth in the Volpara business at very little additional cost to the business itself.

The post 2 ASX tech shares that might be buys in October 2021 appeared first on The Motley Fool Australia.

More reading

• Top ASX shares to buy in October 2021
• 2 growing small cap ASX shares for your watchlist
• Broker names 2 small cap ASX shares to buy
• Volpara (ASX:VHT) share price under spotlight on lung screening expansion
• 4 small cap ASX shares to watch

Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Elmo Software and VOLPARA FPO NZ. The Motley Fool Australia owns shares of and has recommended Elmo Software and VOLPARA FPO NZ. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Carnarvon Petroleum Ltd (ASX: CVN) share price has continued its march higher this week, gaining 17% in the past week of trading.

Shares in the oil and gas explorer finished the week at 31 cents apiece, not too far off their 52-week high of 33.5 cents achieved in January this year.

Let’s investigate further.

What’s been fuelling Carnarvon shares lately?

It seems the elephant in the room is the price of natural gas, which has spiked to 5-year highs of US$6.215 per million British thermal units on 28 September.

The move began on 23 September, spurred on by the energy crisis in Europe in the United Kingdom that has unfolded in recent weeks.

In addition, the price of oil has climbed almost 7% in the past 2 weeks for both major oil contracts, after making a prior jump of 21% from August 20 for crude WTI, and over 20.3% for Brent crude in this time.

Around this time in September, Carnarvon announced a key update to its Buffalo project in the Timor Sea.

The release noted several progress highlights, including that the Buffalo-10 well is set to start spud in early November, and that “mid-case recoverable volume estimate is 31 million barrels”.

Carnarvon said there was a “strong likelihood” the Buffalo-10 well would confirm a “sanctionable development project, based on minimum economic field size”.

Just prior to this, Carnarvon announced that it had contracted the VALARIS JU-107 drilling rig to drill the Buffalo-10 well.

The rig will move to the Buffalo site in early November, once completed its current operations.

The report concludes that Carnarvon expects to ramp up operations at Buffalo-10 from November, but that the final timing will be “subject to the release of the rig from the previous operator… and receiving the necessary joint venture and regulatory approvals”.

What did management say?

Carnarvon managing director and CEO Adrian Cook welcomed the results, saying:

Our preparations for drilling the Buffalo-10 well are in good shape and we’re looking forward to commencing drilling relatively soon.

We continue to work well with and enjoy the support of our joint venture partner, Advance Energy Plc, who have contributed US$20 million towards the cost of the Buffalo-10 well and now hold a 50% interest in the project.

Cook said the company expected to reach the target in around 35 days once drilling started, adding that the well had the potential to be “value transforming” for Carnarvon.

The Carnarvon share price has popped from a low of 25 cents since the announcement on 22 September, to reach its highs of 31.5 cents in afternoon trade today.

Carnarvon share price snapshot

The Carnarvon share price has jumped into the green this past month, gaining 21.5% in this time.

However, it has only climbed 3.3% year to date, behind the S&P/ASX 200 index (ASX: XJO)’s return of around 9%.

Despite this, it has beaten the benchmark index over the last 12 months, posting a return of more than 44% in that time.

The post The Carnarvon (ASX:CVN) share price has jumped 17% this week appeared first on The Motley Fool Australia.

More reading

• Did Optus just get a better deal than Telstra (ASX:TLS) for its towers?
• Here are the top 10 ASX shares today
• The Sezzle (ASX:SZL) share price tumbled 13% in September. Is it a buy?
• Yancoal (ASX:YAL) share price surges 11% to a new 52-week high
• Why is the Nexus Minerals (ASX:NXM) share price rocketing 28% today?

The author Zach Bristow has no positions 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 Bruce Jackson.

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Many ASX shares faltered amidst the volatile month of September. Especially after the S&P/ASX 200 Index (ASX: XJO) tumbled 202 points or 2.69% by month-end.

Despite the broader selling headwinds, these 5 ASX shares (with a market capitalisation greater than $100 million) managed to top the leaderboards.

5 top performing ASX shares in September

1. Kingsgate Consolidated Limited (ASX: KCN)

The Kingsgate share price surged 103% to $1.58 last month on heavy volume after the company came forth with an encouraging update about its Thailand operations.

It is understood that the company’s negotiations with the Royal Thai Government are entering their final stages.

Kingsgate is optimistic about settling a number of actionable awards including:

• The grant of all operating licences and permit applications required to re-start
  and operate the Chatree Gold Mine;
• The renewal/approval of key exploration licence applications to enable access to previously unavailable but highly prospective areas; and
• The examination by Kingsgate of options for the construction of a renewable energy plant at the Chatree Gold Mine;

2. Tuas Ltd (ASX: TUA)

Tuas was a spinoff of TPG Telecom Ltd (ASX: TPM) and its Singapore operations.

Its shares skyrocketed 70.5% to $1.45 in September following the broader strength across ASX shares in the telecommunications sector and an upbeat FY21 results announcement towards the end of the month.

3. Atomo Diagnostics Ltd (ASX: AT1)

Atomo did not announce any market-sensitive news in September but managed to take the spotlight due to its effective rapid antigen test (RAT) for COVID-19.

Its shares surged 54% in September to 35.5 cents after its management told The Australian that it can “bring in up to a million tests a week” to Australia if the demand is there.

4. Camplify Holdings Ltd (ASX: CHL)

The Camplify share price rallied strongly in September despite no market-sensitive announcements made by the company.

Shares in the caravan and campervan-sharing platform surged 65.75% to $3.

This caught the attention of the ASX, which issued a price query on 9 September. In response to its surging share price and volumes, the company pointed to its recent preliminary final report on 23 August as well as recent information by state and federal governments regarding the easing of COVID-19 related restrictions that may have impacted its trading performance.

5. Arafura Resources Limited (ASX: ARU)

The Arafura share price skyrocketed 50% in September following reports from Bloomberg and the Australian Financial Review that the company was in discussions with European manufacturers for offtake agreements for the supply of rare earths.

Interestingly, the news was speculative in nature, as Arafura would later clarify with the ASX that these discussions were not “formal or binding agreements … and negotiations are incomplete”.

The post These were the 5 top performing ASX shares in September appeared first on The Motley Fool Australia.

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Motley Fool contributor Kerry Sun 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 Bruce Jackson.

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