The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has pushed higher again today and is rapidly closing in on a new 2017 high.
In light of this, a number of shares on the local market have recorded new highs of their own this morning. Here’s why they are flying high:
The Catalyst Metals Ltd (ASX: CYL) share price reached a new 52-week high of $1.07 on Wednesday. Investors have been snapping up shares in the gold miner due to the potential of its exploration activities in the Whitelaw Gold Belt. Large-cap gold miner St Barbara Ltd (ASX: SBM) has seen enough promise in the company to recently subscribe to a $5 million placement of shares at a price of 78 cents per share. I think Catalyst will be one to watch in 2018.
The Pushpay Holdings Ltd (ASX: PPH) share price has hit a new high of $3.47 today. Investors appear to have been impressed at the progress the payment solutions company has made in the U.S. church donation market. Thanks to a combination of strong increases in customer numbers and average revenue per customer, Pushpay recently reported a 145% increase in half-year revenue to US$29.7 million. I think Pushpay is one of the best fintech shares on the market and well worth a closer look.
The Whitehaven Coal Ltd (ASX: WHC) share price has stormed to a new 52-week high of $4.16 this morning. The coal miner has benefited greatly from strong prices for the commodity as a result of improved demand in China, India, and Japan. Prices are expected to remain strong in the new year, putting Whitehaven Coal in a position to potentially deliver another strong full-year result. While I do like the coal miner, it wouldn’t be my first pick in the resources sector.