ASX Hot Stocks: St. Barbara, Gryphon and Linc

ASX finishes flat, but these three rocketed ahead

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) has finished flat at 5,198.4, as the share market lacked direction. On Wall Street, the Dow Jones rose 0.3%, while the S&P 500 gained 0.4%.

The Australian dollar is back above 102 US cents, currently buying 102.5 cents, after a surprise 0.1% fall in the unemployment rate.

Here's why these three stocks are hot right now.

St. Barbara Ltd (ASX: SBM) has rocketed up more than 25% to close at 71.5 cents, although the company has a long way to go to reach its 52 week high of $2.40, set in October last year. Sold off on the back of a crash in the gold price – gold appears to be recovering and last traded at US$1,471 an ounce – ASX gold miners now seeing what investors will be hoping is a speedy recovery.

Gryphon Minerals (ASX: GRY) rose 23% to close at 24 cents. Another gold miner, Gryphon is trying to get its flagship Banfora gold mine into operation, but needs around $200 million in capital. As the gold price stabilises, the chances of the company securing the necessary funding appear to be growing. For investors, that means a better chance that Gryphon will move from an explorer to a producer.

Linc Energy (ASX: LNC) climbed 14% to $1.76, possibly on news that the Western Australian government ratified an agreement to develop the vast onshore Canning Super Basin, in order to exploit the rich shale gas fields. Linc announced in January that it had found 'significant' shale oil deposits in South Australia, and investors may be hoping that the South Australian government follows in the West's steps. Recently the company also announced that its Umiat oil field in Alaska is expected to produce 50,000 barrels of oil per day, during peak production.

Oil prices are set to rise dramatically over time. With limited supply — recent estimates suggest we only have enough oil to last 40 years — and growing demand from quickly expanding economies like India and China, oil prices can't help but go up. Position yourself to profit from this trend now, with The Motley Fool's brand-new FREE research report, 3 Oil Stocks to Send Your Portfolio Gushing Higher. Click here now, it's FREE!

More reading

The Motley Fool's purpose is to help the world invest, better. Click here now for your free subscription to Take Stock, 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.  This article contains general investment advice only (under AFSL 400691). Motley Fool writer/analyst Mike King doesn't own shares in any companies mentioned.

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 »