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5 ASX stocks soaring today

The S&P/ASX 200 (INDEXASX: XJO) (ASX: XJO) dropped 1% today, as concerns over Greece weighed on the market. With 18 of the top 20 stocks falling, it was always going to be difficult for the market to post a positive finish.

In stark contrast, these 5 stocks all posted strong returns:

Mining services company MacMahon Holdings Limited (ASX: MAH) soared 48% to 6.8 cents after announcing that it had sold its Mongolian operations for US65 million. It also triggered a major milestone for the company, putting it into a net cash position for the first time in a long time. MacMahon says it has completed its restructure and significantly reduced costs, but as a mining services business, still faces a tough road ahead.

Newzulu Ltd (ASX: NWZ) rocketed up 12.7% to 7.1 cents but is still down more than 54% since the start of this year. The company announced a partnership and syndication agreement with Alamy, the world’s largest online photo agency for stock, video, and live news. Newzulu is a crowd-sourced media company that allows regular people to submit news stories and get paid for it. The company has already signed several significant agreements with companies like Agence France-Presse (AFP), Australian Associated Press (AAP), and Getty Images.

PBD Developments Ltd (ASX: PBD), a property developer saw its share price soar 11.8% to 1.9 cents as 13.4 million shares changed hands. Trading in PBD is usually illiquid, and with such a small share price, can trigger wild swings in the share price. PBD has a number of small-to-medium property developments across several states, although it last reported a $5 million loss for the six months to December 2014. PBD does say that it expects to complete 4 of its projects over the next 24 months, resulting in $120 million in cash returning to the company.

MMA Offshore Ltd (ASX: MRM) ex-Mermaid Marine, posted a 6.3% rise to 59 cents, after announcing that it had been awarded a 2-year $100 million contract by Chevron to provide supply base facilities and services for Chevron in Australia’s North West. Oil giant Chevron has a number of projects off Australia’s North-west coast, including the Gorgon and Wheatstone LNG projects, Barrow Island, which sits 60kms offshore the West Australian Coast and the North-West Shelf. MMA Offshore runs a fleet of ships supporting offshore oil and gas operations.

Rare earths miner Lynas Corporation Limited (ASX: LYC) gained 6.1% to 3.5 cents, after confirming it was on track to meet its quarterly report guidance, including “positive free cash flow”. Lynas had $44.4 million in cash at the end of March 2015, which suggests the company could be on the comeback trail if it can maintain positive cash flows. Watch out for the company’s next report – it could provide valuable clues to where Lynas is going in future.

 

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Motley Fool contributor Mike King doesn't own shares in any companies mentioned. 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.

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