Here's why these 4 ASX shares are soaring today

The S&P/ASX 200 (Index:^AXJO) (ASX:XJO) is edging higher thanks to strong gains from a2 Milk Company Ltd (Australia) (ASX:A2M) and three other ASX shares.

| 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

Thanks to strong gains in the materials and consumer discretionary sectors the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is just about edging higher by around 0.1% to 5,416 points today.

Leading the charge are four shares in particular, each posting strong gains for their respective shareholders. Here they are:

a2 Milk Company Ltd (Australia) (ASX: A2M) shares have jumped 6% to $2, despite no news out of the growing dairy and infant formula company. As I stated here earlier, after a big post-earnings sell off it could be a great time to invest in A2 Milk. Considering its strong growth prospects I personally believe its shares look to be great value at just 24x estimated FY 2017 earnings.

BWX Ltd (ASX: BWX) is another share that dropped massively during earnings season. But it has bounced back strongly today with a 5% increase to $4.59. Despite the company behind the Sukin natural skincare brand posting a 25% rise in net profit after tax to $12 million, its shares took a sharp plunge last month. Even after today's gains they are still down by around 16% since announcing these results, which I believe makes them a great candidate for an investment.

Estia Health Ltd (ASX: EHE) shares have rocketed higher once again, this time by around 11% to $3.25 despite no news out of the company. Incredibly this means that the embattled aged care operator's shares are now trading at a higher price than they were before Monday's brutal sell off. Despite this impressive rebound its shares are still down by 55% year to date.

OceanaGold Corporation (ASX: OGC) has easily been the pick of the gold miners today. Its share price is up by 10.5% to $4.94 thanks to both a rising gold price and a positive announcement relating to its Haile Gold Mine. The company advised that its recently completed preliminary economic assessment at the mine demonstrated the technical viability of an underground operation with strong economics. This is a very promising development for the miner and could boost annual production by between 80,000 to 100,000 ounces of gold per year.

Motley Fool contributor James Mickleboro has no position in any stocks mentioned. The Motley Fool Australia owns shares of A2 Milk. 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 »