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3 companies that could mover higher in 2018

These three companies have seen strong gains this week and look like they’re gearing up to carry the momentum into 2018.

VERIS FFO (ASX: VRS)

The VERIS FFO share price climbed almost 8 per cent on Tuesday with stock in the company now trading for about 18 cents.

The company has announced that it was awarded a contract by the Cross Yarra Partnership to work on the Melbourne Metro Tunnel project.

The Cross Yarra Partnership is a consortium consisting of Lendlease Group (ASX: LLC), John Holland, Bouygues Construction and Capella Capital.

VERIS is contracted to deliver early survey works to facilitate design development and site investigations.

Major construction of the tunnel is expected to commence in 2018 and is due for completion in 2026 with surveying and related services for the project likely to exceed $100 million over 10 years.

Redflow Ltd (ASX: RFX)

Redflow Ltd’s share price gained more than 9 per cent on Tuesday in what would have come as a welcome reprieve for the battery maker which has seen its stock sink by almost 60 per cent in a year.

Tuesday’s gains came as the company announced it had started manufacturing core components for its zinc-bromine flow batteries at its new production facility in Thailand.

Redflow CEO Richard Aird said the company is “on track to produce full battery stacks” from the factory in Thailand in January.

Redflow shares are trading for 12 cents, a long way off the $1.20 mark they were going for in 2011.

Kidman Resources Ltd (ASX: KDR)

The Kidman Resources Ltd resources share price was up again on Tuesday, gaining about 3 per cent before closing at $1.92.

It’s likely the latest gains were prompted by an announcement concerning the company’s recent drilling results at its Bounty lithium project.

Kidman Resources Managing Director Martin Donohue said the early indications at Bounty are “extremely encouraging with the intersections demonstrating the hallmarks of a potentially significant discovery in its own right”.

Kidman’s share price has gained more than 220 per cent in the past year.

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Motley Fool contributor Steve Holland 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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