5 ASX stocks soaring today

The All Ordinaries (Index: ^XAORD) (ASX: XAO) has climbed more than 2.1% in mid-afternoon trading, one of the best days of the year.

Despite the surge, the All Ordinaries index is still1% lower than it started the year. Unless we have further strong gains during the public holiday interrupted week, it’s likely to end the year that way too.

Still, it’s all about the stocks in the index, and here’s 5 companies with rocketing share prices today…

Gold miners Saracen Mineral Holdings Limited (ASX: SAR) and Kingsgate Consolidated Limited (ASX: KCN) have put on 14% and 9.8% to trade at 24.5 cents and 69.2 cents respectively. It’s been a good day for the goldies, despite gold sliding 0.7% overnight to US$1,198 an ounce.

With the Australian dollar at 81.8 US cents, that’s the equivalent of A$1,464 an ounce, suggesting some of our miners will be making decent margins – as long as the Australian dollar doesn’t shoot higher or gold doesn’t slip below US$1,000 an ounce.

Travel insurance company Cover-More Group Ltd (ASX: CVO) has seen its shares gain 9.5% to just under $2.00, after the company unveiled a partnership with Insurance Australia Group Ltd (ASX: IAG) in New Zealand. Cover-More will provide specialised travel insurance for IAG’s New Zealand brands, as well as medical assistance services.

Liquefied Natural Gas Ltd (ASX: LNG) has regained all of yesterday’s fall and then some, rising 7.7% to $2.39. The company is developing one of the United States’ first export LNG plants, using its proprietary technology that massively cuts the cost of LNG plants. LNGL has seen its share price hit as the oil price fell and concerns US shale gas producers would be forced to shut up shop. Oil prices appear to have stabilised somewhat – in good news for the company.

Mineral Resources Limited (ASX: MIN) saw its shares rise 9.6% to $7.40. The company provides mining operations services to a number of resources companies as well as being an iron ore miner in its own right. Today the company agreed to vary its Iron Valley Agreement with BC Iron Limited (ASX: BCI), while continuing to operate the mine as a direct shipping ore (DSO) operation. The variations are focused on cutting costs and improving the value of produced ore.

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Motley Fool writer/analyst Mike King doesn't own shares in any companies mentioned. You can follow Mike on Twitter @TMFKinga

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