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Why these 4 ASX shares are soaring higher today

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.

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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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