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.