Why these 4 shares smashed the market today

Is there more where that came from for Fortescue Metals Group Limited (ASX:FMG), Freelancer Ltd (ASX:FLN), Origin Energy Ltd (ASX:ORG), and Nanosonics Ltd. (ASX:NAN)

| More on:
a woman

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Welcome to Friday, Foolish readers. The S&P/ASX 200 (INDEXASX: ^AXJO) (ASX: XJO) traded virtually flat today, losing 0.09% to 4,971 points. A number of commodity stocks enjoyed big leaps, while quarterly reports also caused rises at other stocks.

Here's what you need to know:

Fortescue Metals Group Limited (ASX: FMG) skyrocketed 14% to $1.73 after yesterday's quarterly report revealed the company could become the world's lowest cost iron ore miner. With cash costs (before overheads) of US$15 per tonne and further reductions yet to come, the news was certainly welcome for investors who have been fearfully watching the company's mountain of debt.

Fortescue remains heavily exposed to the price of iron ore and market supply/demand, and investors would be wise to form an opinion on where these things are headed before making a purchase.

Freelancer Ltd (ASX: FLN) jumped 8.6% to $1.79 as the company announced record cash receipts for the past three months. More importantly, the company also generated positive operating cashflow over the past 12 months, which is a huge plus for shareholders as it shows the company is sustainably making more than it spends in its day-to-day operations.

However, Freelancer is currently valued at a big market capitalisation, despite making just $1.4 million in cash from operations in the past 12 months. Shares have risen 198% in that time.

Origin Energy Ltd (ASX: ORG) rose 5% to $4.07 today, along with a number of other energy producers, after the value of Brent crude oil rose above US$35 per barrel overnight. On the downside, Origin also posted a production update which revealed just how tough things have become in the gas market. While gas production was 63% higher compared to the prior comparable quarter last year, revenue actually fell 12%.

Origin shares are down 62% for the year.

Nanosonics Ltd. (ASX: NAN) shares gained 8% to $1.88 after it reported record sales in the past three months, up 41% compared to the quarter immediately prior. First half earnings were also a record, as the company expands its business in North America. Despite the strong performance, Nanosonics remains cash flow negative, burning through just under $4m of cash in the past six months.

On the plus side, Nanosonics is well funded with some $42m cash in the bank. Shares have risen 40% in the past 12 months.

Motley Fool contributor Sean O'Neill has no position in any stocks mentioned. Unless otherwise noted, the author does not have a position in any stocks mentioned by the author in the comments below. 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 Bruce Jackson.

More on ⏸️ Investing

Close up of baby looking puzzled
Retail Shares

What has happened to the Baby Bunting (ASX:BBN) share price this year?

It's been a volatile year so far for the Aussie nursery retailer. We take a closer look

Read more »

woman holds sign saying 'we need change' at climate change protest
ETFs

3 ASX ETFs that invest in companies fighting climate change

If you want to shift some of your investments into more ethical companies, exchange-traded funds can offer a good option

Read more »

a jewellery store attendant stands at a cabinet displaying opulent necklaces and earrings featuring diamonds and precious stones.
⏸️ Investing

The Michael Hill (ASX: MHJ) share price poised for growth

Investors will be keeping an eye on the Michael Hill International Limited (ASX: MHJ) share price today. The keen interest…

Read more »

ASX shares buy unstoppable asx share price represented by man in superman cape pointing skyward
⏸️ Investing

The Atomos (ASX:AMS) share price is up 15% in a week

The Atomos (ASX: AMS) share price has surged 15% this week. Let's look at what's ahead as the company build…

Read more »

Two people in suits arm wrestle on a black and white chess board.
Retail Shares

How does the Temple & Webster (ASX:TPW) share price stack up against Nick Scali (ASX:NCK)?

How does the Temple & Webster (ASX: TPW) share price stack up against rival furniture retailer Nick Scali Limited (ASX:…

Read more »

A medical researcher works on a bichip, indicating share price movement in ASX tech companies
Healthcare Shares

The Aroa (ASX:ARX) share price has surged 60% since its IPO

The Aroa (ASX:ARX) share price has surged 60% since the Polynovo (ASX: PNV) competitor listed on the ASX in July.…

Read more »

asx investor daydreaming about US shares
⏸️ How to Invest

How to buy US shares from Australia right now

If you have been wondering how to buy US shares from Australia to gain exposure from the highly topical market,…

Read more »

⏸️ Investing

Why Fox (NASDAQ:FOX) might hurt News Corp (ASX:NWS) shareholders

News Corporation (ASX: NWS) might be facing some existential threats from its American cousins over the riots on 6 January

Read more »