4 shares soaring on the ASX today

The S&P/ASX 300 (Index: ^AXKO) (ASX: XKO) has closed down 1.4% at 4,888.4 points, with most of the heavyweight shares in the Top 20 slammed down.

These 4 companies managed to go against the trend and saw their share prices soar…

Select Harvests Limited (ASX:SHV) saw its share price gain 9.0% to $4.13, recovering some of its recent falls, but still a long way from its high of $13.64 reached in August 2015. It seems bargain hunters may have seen the one-year low of $3.73 reached yesterday as the time to jump back in. However, they may be a tough early, and Select Harvests is more than likely to report a shocker financial result this year, with reports that almond buyers have ‘disappeared’.

Broadspectrum Ltd (ASX: BRS) ex-Transfield Services saw its share price soar 7.8% to $1.25, despite no official news from the services and contracting company. Perhaps it was renewed confidence that the takeover bid from Spanish construction giant Ferrovial of $1.35 a share would go ahead. Broadspectrum has rejected the bid, but Ferrovial recently extended its bid to close on April 18, and time is running out.

APN Outdoor Group Ltd (ASX: APO) saw its share price jump 6.4% to $6.79, after broker Credit Suisse stuck a $7.05 price target on the outdoor advertising company’s shares and an ‘outperform’ rating. The broker reckons the 20.1x P/E ratio is a reasonable place to buy, with the outdoor advertising market benefitting from structural changes in the media sector. Notice the number of billboards popping around the country? And how many of them are now digital? That’s APN Outdoor’s business.

Resolute Mining Limited (ASX: RSG) share price gained 6.8% to $0.63, despite gold prices slipping overnight. Spot gold was fetching US$1,217.25 an ounce, down 0.4%, but rallied today, rising by 0.9% to US$1,226.22 according to Bloomberg. Resolute Mining recently reported all-in sustaining costs of US$902 an ounce in the six months to end of December 2015, and a profit of A$67 million. Van Eyke Associates Corporation also reported today that it had become a substantial shareholder in Resolute with 32 million shares with the majority of shares held by a Junior Gold Miners exchange traded fund.

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Motley Fool writer/analyst Mike King doesn't own shares in any companies mentioned. You can follow Mike on Twitter @TMFKinga

Unless otherwise noted, the author does not have a position in any stocks mentioned by the author in the comments below. 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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