Why these 4 ASX shares are soaring higher today

Shares of Northern Star Resources Ltd (ASX:NST) and Lynas Corporation Limited (ASX:LYC) are rising today

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The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has pared back almost all its gains from earlier in the session. After soaring as much as 1.4%, it is now sitting a mere 0.2% higher at 5161 points.

However, the broader market's pullback hasn't impacted the gains experienced by these four companies:

Northern Star Resources Ltd (ASX: NST) shares are trading 5.9% higher at $2.50 following an encouraging rally in the spot gold price overnight. The shiny metal recovered 2% and is now fetching US$1,084 an ounce or $1,479 in Australian dollar terms with some experts suggesting a recovery is underway.

Freelancer Ltd (ASX: FLN) shares also rose 3.4% to $1.83, despite the absence of any company-specific news. Freelancer is the world's largest freelancing and crowdsourcing marketplace business where employers can go to hire freelancers to complete various tasks. Although it remains a speculative bet, there is also an opportunity for incredible growth that Freelancer will hope to tap.

Lynas Corporation Limited's (ASX: LYC) share price continued its impressive run today, rising another 5.8% to 12.7 cents. The shares have risen 41% over the last fortnight. Although Lynas remains a risky investment prospect, investors are likely responding to reports of positive free cash flow in its most recent operating report, together with news that its only non-Chinese competitor has filed for bankruptcy.

Nearmap Ltd (ASX: NEA) shares are also on a tear today, lifting 8.7% to 39.7 cents each. In an announcement to the market this morning, Nearmap announced a "major customer win for Australia" with an annual value of $1.47 million. Encouragingly, the contract has been signed with an existing customer who wishes to broaden the utilisation of Nearmap across the organisation.

Motley Fool contributor Ryan Newman owns shares of Nearmap Ltd.. Unless otherwise noted, the author does not have a position in any stocks mentioned by the author in the comments below. You can follow Ryan on Twitter @ASXvalueinvest. 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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