Currently the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is heading lower and is down 0.4% to 5.490 points in early afternoon trade.
With almost all sectors posting declines today, the materials sector has been the stand out performer with a gain of above 1% at lunch. I have picked out four shares which have been ensuring their respective shareholders go into the weekend smiling. Here they are:
Admedus Ltd (ASX: AHZ) has continued its incredible week with a 7% rise to 53.5 cents. The general hospital and cardiovascular surgery equipment company has not stopped climbing since it released its fourth quarter report on Wednesday. Not only did the report reveal a 40% increase in full year sales to $14.1 million, but management also forecast sales growth of at least 50% in FY 2017. Thanks to this expected sales growth and its significant cost-cutting, the company believes it will be profitable by FY 2018.
Admedus shares are now up by almost 60% this week.
EVOLUTION FPO (ASX: EVN) shares have jumped 4% to $2.76. The likely cause for this is a bounce in the gold price due to speculation that the European Central Bank will provide additional stimulus in September. As well as this, Morgan Stanley picked out Evolution Mining as its pick of the gold miners and placed a $3.20 price target on it. Fellow gold miners Independence Group NL (ASX: IGO) and St Barbara Ltd (ASX: SBM) are also putting on strong gains today.
Evolution Mining’s share price has now doubled in 2016.
Gage Roads Brewing Co Limited (ASX: GRB) shares have soared 16% higher to 6.5 cents after the fledgling brewer released its fourth quarter sales results. The company produced a strong fourth quarter which led to annual revenue growth of 5% and an unaudited net profit after tax of $0.6 million. This is a vast improvement from the $0.8 million loss a year earlier and makes it one to watch in my opinion.
Gage Roads Brewing Co’s share price is up 25% in the last 12 months.
Regis Resources Limited (ASX: RRL) shares have rocketed higher by over 6% to $3.76. As well as getting a boost from the bounce in the gold price, Regis Resources released a very positive fourth quarter activities report today. Following a strong fourth quarter, management revealed full year gold production of 305,084 ounces with an all in sustaining cost of $927 per ounce. This result exceeded the upper end of its FY 2016 guidance. In FY 2017 the company has provided production guidance of 300,000 to 330,000 ounces, albeit with a higher all in sustaining cost of $980 to $1,050 per ounce.
Regis Resources shares have now climbed by 64% this year.
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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.
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Motley Fool contributor James Mickleboro has no position in any stocks mentioned. 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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