3 ASX stocks that beat the market on Wednesday


The S&P / ASX 200 Index (Index: ^AXJO) (ASX: XJO) ended flat on Wednesday, falling just 0.2% to close at 4,063.8 yesterday, despite positive leads from global markets. A survey of consumer confidence came in worse than expected – perhaps a case where pessimism begets more pessimism.

Whatever the case, these three stocks were the best performing stocks in the ASX 200 Index.

Saracen Mineral Holdings Limited (ASX: SAR) climbed 5.5% to close at 57.5 cents as the gold miner’s shares continue to recover from a 52 week low of 43 cents set a month ago. Saracen is targeting production of around 110,000 ounces in 2012 and between 120,000 to 150,000 ounces of gold in 2013.

Whitehaven Coal (ASX: WHC) rose 4.5% to finish at $4.18 as the company announced that it had received a takeover bid from Nathan Tinkler’s private company. Just six weeks ago, Mr Tinkler sold his Aston Resources and Boardwalk Resources to Whitehaven for $2.25 billion. Whitehaven’s shares have fallen 20% since mid-December 2011, and this appears to be an opportunistic move to purchase a company that looks to be undervalued. Wilson HTM analysts have a price target of $7.21 on the stock.

FKP Property Group (ASX: FKP) gained 4.4% to end at 48 cents on news that it is considering separating its retirement and property development operations, which could result in part of the business being sold off. FKP holds an 85% interest in Forest Place Group Limited (ASX: FPG). A demerger could see FKP’s retirement assets tipped into Forest Place, with development assets left in the FKP Group.

Other gainers include APN News and Media Limited (ASX: APN) up 4.3% and Fortescue Metals Group Limited (ASX: FMG) up 2.9%.

If you’re in the market for some less risky, high yielding ASX shares, look no further than Secure Your Future with 3 Rock-Solid Dividend Stocks. In this free report, we’ve put together our best ideas for investors who are looking for solid companies with high dividends and good growth potential. Click here now to find out the names of our three favourite income ideas. But hurry – the report is free for only a limited time.

More reading

Motley Fool contributor Mike King owns shares in Saracen Mineral Holdings. The Motley Fool‘s purpose is to help the world invest, better. Take Stock is The Motley Fool’s free investing newsletter. Packed with stock ideas and investing advice, it is essential reading for anyone looking to build and grow their wealth in the years ahead. Click here now to request your free subscription, whilst it’s still available. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

OUR #1 DIVIDEND PICK FOR 2016...

Forget BHP and Woolworths. This "dirt cheap" company is growing like gangbusters, and trading on a 5.6% dividend yield, FULLY FRANKED (8% gross). With interest rates set to stay at these low levels for years to come, for hungry investors, including SMSFs, this ASX company could be the "holy grail" of dividend plays for 2016.

Enter your email below to discover the name, code and a full investment analysis in our brand-new FREE report, “The Motley Fool’s Top Dividend Stock for 2016.”

By clicking this button, you agree to our Terms of Service and Privacy Policy. We will use your email address only to keep you informed about updates to our website and about other products and services we think might interest you. You can unsubscribe from Take Stock at anytime. Please refer to our https://www.fool.com.au/financial-services-guide">Financial Services Guide (FSG) for more information.