3 ASX shares at 52-week highs: Can they go higher?

The Northern Star Resources Ltd (ASX:NST) share price is one of three at a 52-week high. Can they go higher?

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Although the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has started the week poorly and is down 0.5% to 5,696 points in morning trade, not all shares have started the week in the red.

In fact, the three shares below have just climbed to 52-week highs. Is it too late to invest?

The Idp Education Ltd (ASX: IEL) share price raced to an all-time high of $5.74 today, bringing its year-to-date return to over 40%. Last month the student agent company and an owner in the IELTS test impressed investors with a 22% increase in earnings before interest and tax on a constant currency basis. Although I think the company is in a solid position to grow over the next few years as demand for its services increases, at 33x earnings its shares are a little on the expensive side. I would suggest investors wait for a better entry point.

The Northern Star Resources Ltd (ASX: NST) share price hit a 52-week high of $5.46 this morning. The gold miner is one of a number in the industry pushing higher today after rising tensions in North Korea continued to lift the spot gold price. Currently gold is fetching US$1,334 an ounce, up over 6% since this time last month. Whilst I wouldn't necessarily be in a rush to invest in Northern Star, I do believe there could still be reasonable upside left for its shares if tensions continue to rise.

The Whitehaven Coal Ltd (ASX: WHC) share price climbed to a five-year high of $3.68 during morning trade. The coal miner's shares have now rallied over 45% in the last three months thanks partly to improved coal prices and a solid full-year result. This led to analysts at Citi retaining their buy rating and increasing the price target on its shares to $3.85 last month. While I think Whitehaven Coal has transformed itself into a quality mining company, I believe there are better options in the resources sector that provide investors with a more compelling risk/reward.

Motley Fool contributor James Mickleboro has no position in any of the 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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