3 ASX stocks that blew the market away on Monday

The ASX rose yesterday, but these three stocks soared more than 14%

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

The S&P / ASX 200 Index (Index: ^AXJO) (ASX: XJO) rose 38.7 points, or 1.0% to close at 4,068 yesterday, boosted by polls over the weekend which show pro-austerity parties in Greece were gaining popularity. These three stocks managed to do much better than the market, rising 14% or more.

Lynas Corporation Limited (ASX: LYC) climbed 17.9% to $1.055, apparently on speculation that the Malaysian government will give the go ahead for Lynas' controversial rare earths processing plant within two weeks. Protesters have been arguing against the plant, which is expected to produce radioactive waste during the processing of rare earths ore into rare earth oxides.

Lynas was one of the top ten most shorted stocks (speculators take short positions, hoping for the share price to fall) on the ASX, so it's likely the share price was also driven up by short-sellers  covering their positions (buying back the shares to close the trade – which pushes the price up).

Linc Energy Ltd (ASX: LNC) jumped 15.6% to close at $0.705. The diversified energy company, with interests in coal, oil and gas has seen its share price yo-yo over the last couple of weeks, as investors chase the share price up and down.  With the stock falling from over $3 a year ago, Mr Market may have over-reacted, and we might be seeing buyers looking for a bargain.

Dart Energy Ltd (ASX: DTE) bounced 14.3% to close at 20c, after hitting an all-time low of 15.5 cents last week.  The company is focused on the development of coal seam gas and coal bed methane projects in Australia and Asia.  Gas is the hot sector (sorry!) now, driven by uncertainty over the carbon tax, and the implications for dirtier sources of energy such as brown coal. Australia is also blessed with large reserves of gas from many sources which may propel the country long after the resources boom has ended…whenever that may be.

Other notable risers include Gindalbie Metals Ltd (ASX: GBG) up 10.5% to $0.475 and Ramelius Resources Limited (ASX: RMS) up 10.1% to close at $0.49.

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 doesn't own shares in any companies mentioned. 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.

More on ⏸️ Investing

A white and black robot in the form of a human being stands in front of a green graphic holding a laptop and discussing robotics and automation ASX shares
Technology Shares

Joining the revolution: How I'd invest in ASX AI shares right now

Advances in artificial intelligence (AI) could usher in a new industrial revolution. Here’s how you can invest in it.

Read more »

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

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 »