MENU

Here’s why these 4 ASX shares have gone nuts today

The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is on course to end its losing streak with a small gain today. In afternoon trade the index is up 0.2% to 5,816 points.

Four shares which are climbing more than most are listed below. Here’s why they have rocketed higher:

The Iluka Resources Limited (ASX: ILU) share price has surged 12% to $8.24 after the mineral sands producer delivered a strong quarterly update. Thanks to favourable pricing and a surge in production, quarterly mineral sands revenue rose a massive 114% to $218.5 million. This allowed the company to reduce its net debt to $403 million, from $505 million at the end of December.

The iCar Asia Ltd (ASX: ICQ) share price is up 14% to 28.5 cents after the automotive listings company announced record quarterly cash receipts of $2.5 million during its first quarter. The strong result was driven by a 26% increase in overall listings growth, including 51% growth for Malaysia and 47% growth for Thailand. Whilst this was an impressive quarter, it’s still a little early for an investment in my opinion.

The Pilbara Minerals Ltd (ASX:PLS) share price has jumped 10% to 35.2 cents despite there being no news out of the lithium miner. On Tuesday Pilbara’s shares fell sharply after a project update revealed further delays to its mining permit approval and financing discussions. But today its seems investors are willing to overlook the delays and focus more on the positive bulk sampling results it released that day as well.

The Shaver Shop Group Ltd (ASX: SSG) share price has rocketed almost 12% to 67 cents after the specialist grooming products retailer released its third quarter update. Thanks to a strong performance in March, management raised its full-year EBITDA guidance to between $13.7 million and $15 million from prior guidance of between $12 million and $13.5 million. Whilst I was impressed with the update, I am concerned about the impact Amazon’s arrival in Australia will have on the business.

So rather than invest in Shaver Shop I would be snapping up these stunning shares today. I think each is in a strong position to deliver market-beating returns for investors over the next few years.

Top 3 ASX Blue Chips To Buy In 2017

For many, blue chip stocks means stability, profitability and regular dividends, often fully franked..

But knowing which blue chips to buy, and when, can be fraught with danger.

The Motley Fool's in-house analyst team has poured over thousands of hours worth of proprietary research to bring you the names of "The Motley Fool's Top 3 Blue Chip Stocks for 2017."

Each one pays a fully franked dividend. Each one has not only grown its profits, but has also grown its dividend. One increased it by a whopping 33%, while another trades on a grossed up (fully franked) dividend yield of almost 7%.

If you're expecting to see the likes of Commonwealth Bank, Telstra and Wesfarmers shares on this list, you'll be sorely disappointed. Not only are their dividends growing at a snail's pace, their profits are under pressure too due to the increasing competitive environment.

The contrast to these "new breed" blue chips couldn't be greater... especially the very real prospect of significant share price gains, something that's looking less likely from the usual blue chip suspects.

The names of these Top 3 ASX Blue Chips are included in this specially prepared free report. But you will have to hurry. Depending on demand - and how quickly the share prices of these companies moves - we may be forced to remove this report.

Click here to claim your free report.

Motley Fool contributor James Mickleboro has no position in any 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 Bruce Jackson.

HOT OFF THE PRESSES: My #1 Dividend Pick for 2017!

With its shares up 155% in just the last five years, this ‘under the radar’ consumer favourite is both a hot growth stock AND our expert’s #1 dividend pick for 2017. Now we’re pulling back the curtain for you... And all you have to do to discover the name, code and a full analysis is enter your email below!

Simply enter your email now to receive your copy of our brand-new FREE report, “The Motley Fool’s Top Dividend Stock for 2017.”

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 Financial Services Guide (FSG) for more information.