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Here’s why these 4 ASX stocks are soaring today

Australian shares are generally lower today following a weak lead from international equity markets overnight. After the Dow Jones and NASDAQ indices lost 1.1% and 0.9% respectively, the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has retreated a more respectable 0.5% for the day.

However, the market’s poor performance didn’t stop these four stocks from rallying higher:

Gage Roads Brewing Co Limited (ASX: GRB) surged 16% to be trading at 5.8 cents apiece, despite the absence of any news which would specifically explain the jump. Given that the stock fell 37.5% during March, it’s likely that investors are seeing some value in the stock at its current low price.

Triton Minerals Ltd (ASX: TON) skyrocketed as much as 112% earlier in the session to record a high of 71 cents, but it has since retreated to 54 cents – a 61.2% increase for the day. Triton Minerals, which is a junior graphite miner, managed to secure a US$2 billion 20-year binding off-take agreement for the rights to supply graphite to a Chinese company for a minimum floor price of US$1,000 per tonne. You can read more about that here.

Ausenco Limited (ASX: AAX), an engineering contractor, also rose strongly on the back of a new contract win. The stock rose by as much as 40% earlier today, although it is now sitting just 13.3% higher at 26 cents. While today’s jump is certainly good for shareholders, the stock is still trading 56% lower over the last 12 months.

Medibank Private Ltd (ASX: MPL) has been one of the top performing stocks from the ASX 200 today with its shares rising 2.6% to $2.38. Prior to today, the market appeared to have cooled on the health insurance stock since the release of its interim profit results in February. The stock is by no means cheap, and investors perhaps weren’t as impressed as they would have liked to have been from its results. Even at today’s price, Medibank remains a pricey bet.

Where to invest $1,000 right now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

*Returns as of June 30th

Ryan Newman has no position in any stocks mentioned. The Motley Fool 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.

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