Why these 4 ASX shares have posted solid gains today

The a2 Milk Company Ltd (Australia) (ASX:A2M) share price is one of four posting solid gains today…

| More on:
a woman

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

In afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is on course make it two consecutive days of steep declines. At the time of writing the benchmark index is down 0.7% to 5,661 points.

Four shares which have defied the market today and climbed higher are listed below. Here's why they have posted solid gains today:

The a2 Milk Company Ltd (Australia) (ASX: A2M) share price has climbed almost 4% to $6.24. Today's gain is likely to be attributable to a research note out of Goldman Sachs which revealed that its analysts have upgraded the dairy company to a buy rating with a $7.25 price target. Goldman believes growth in the higher margin offline channel in China will lead to above consensus earnings growth in FY 2018.

The Independence Group NL (ASX: IGO) share price is up 4% to $3.97. The gold miner's shares are now up over 12% since this time last week despite there being no notable news out of the company or material movements in the gold price. Despite this strong gain, Independence remains the second-most shorted share on the Australian share market.

The Kidman Resources Ltd (ASX: KDR) share price has rebounded from yesterday's decline with a 3.5% gain to 92.5 cents. Yesterday the lithium miner's shares took a tumble after it revealed the results of the scoping study from its Earl Grey Lithium Project. Although the results were strong, some investors appear to have expected even better.

The Liquefied Natural Gas Ltd (ASX: LNG) share price is up 4.5% to 40.2 cents despite there being no news out of the natural gas company. But with its shares recently hitting a multi-year low, I suspect bargain hunters may have swooped in. Whilst its shares do look cheap, due to the oversupply of LNG I would caution against an investment.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of A2 Milk. 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.

More on ⏸️ Investing

Close up of baby looking puzzled
Retail Shares

What has happened to the Baby Bunting (ASX:BBN) share price this year?

It's been a volatile year so far for the Aussie nursery retailer. We take a closer look

Read more »

woman holds sign saying 'we need change' at climate change protest
ETFs

3 ASX ETFs that invest in companies fighting climate change

If you want to shift some of your investments into more ethical companies, exchange-traded funds can offer a good option

Read more »

a jewellery store attendant stands at a cabinet displaying opulent necklaces and earrings featuring diamonds and precious stones.
⏸️ Investing

The Michael Hill (ASX: MHJ) share price poised for growth

Investors will be keeping an eye on the Michael Hill International Limited (ASX: MHJ) share price today. The keen interest…

Read more »

ASX shares buy unstoppable asx share price represented by man in superman cape pointing skyward
⏸️ Investing

The Atomos (ASX:AMS) share price is up 15% in a week

The Atomos (ASX: AMS) share price has surged 15% this week. Let's look at what's ahead as the company build…

Read more »

Two people in suits arm wrestle on a black and white chess board.
Retail Shares

How does the Temple & Webster (ASX:TPW) share price stack up against Nick Scali (ASX:NCK)?

How does the Temple & Webster (ASX: TPW) share price stack up against rival furniture retailer Nick Scali Limited (ASX:…

Read more »

A medical researcher works on a bichip, indicating share price movement in ASX tech companies
Healthcare Shares

The Aroa (ASX:ARX) share price has surged 60% since its IPO

The Aroa (ASX:ARX) share price has surged 60% since the Polynovo (ASX: PNV) competitor listed on the ASX in July.…

Read more »

asx investor daydreaming about US shares
⏸️ How to Invest

How to buy US shares from Australia right now

If you have been wondering how to buy US shares from Australia to gain exposure from the highly topical market,…

Read more »

⏸️ Investing

Why Fox (NASDAQ:FOX) might hurt News Corp (ASX:NWS) shareholders

News Corporation (ASX: NWS) might be facing some existential threats from its American cousins over the riots on 6 January

Read more »