Motley Fool Australia

5 stocks soaring on the ASX today

rocket launch

The S&P/ASX 200 (Indexasx: XJO) (ASX: XJO) had a topsy-turvy day, finally closing flat at 5,826.5.

At one stage early this morning, the market had soared more than 1.1% above 5,900 and was on track for a solid finish. But the rally faded out and then sank into the red after the RBA announced that it had cut the official cash rate by 0.25% to a record all-time low of 2%.

Still, these five stocks managed to post strong gains today.

Beleaguered transport company McAleese Ltd (ASX: MCS) saw its shares soar 42% to 11.5 cents, after being heavily sold off yesterday. McAleese revised down its outlook for the year, after taking a big hit to its haulage revenues for iron ore miner Atlas Iron Limited (ASX: AGO) to keep the miner out of administration. The alternative wasn’t worth contemplating – let Atlas sink completely and lose even more.

Gold miner St Barbara Ltd (ASX: SBM) has gained 12.2% at 50.5 cents and is now up 134% in the past month, and a whopping 368% year-to-date. That comes on the back of the miner selling off its troublesome Solomon Islands mine, and super-low all-in sustaining costs, making St Barbara one of Australia’s lowest cost producers.  Colleague Regan Pearson highlighted the company’s huge 89% gross profit margin recently here.

Ardent Leisure Group (ASX: AAD) saw its shares jump 11.3% to $2.21, after reporting an impressive 17% increase in group revenue, as the company’s MainEvent division continues to be the standout performer. Revenues rose 58% for the 9-month period for that division, and Ardent says it is seeing an improvement in its troubled Goodlife gyms. Ardent is still paying a trailing 6% partly-franked dividend yield after today’s rise.

Domino’s Pizza Enterprises Ltd (ASX: DMP) rocketed up 8.7% to $41.26. It seems recent news reports that the pizza chain is equipping its drivers with GPS, so customers can track their deliveries online is another block in Domino’s fortress, keeping competitors at bay. Domino’s is now trading on a prospective 2016 financial year P/E of over 42x – an expensive price for a high-quality company.

Pet supplies retailer and veterinarian Greencross Limited (ASX: GXL) gained 5.8% to close at $7.13. Have investors taken note of my article in late April, in which I nominated the retailer as one of the top quality stocks on my radar? At the time, Greencross shares were trading at $6.60, and I’m kicking myself for not buying more shares then (after adhering to Motley Fool trading policy).

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 February 15th 2021

Motley Fool contributor Mike King owns shares in Greencross. You can follow Mike on Twitter @TMFKinga

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.

Related Articles…