These 3 ASX shares just stormed to 52-week highs

Although the market has had a disappointing start to 2018, not all shares on the Australian market have fared as poorly.

In fact, a number of shares have managed to scale to 52-week highs today. Here are three that caught my eye:

The Beach Energy Ltd (ASX: BPT) share price reached a multi-year high of $1.28 today. A rising oil price and the company’s acquisition of the Lattice Energy business from Origin Energy Ltd (ASX: ORG) have been the catalysts for this gain. While I am bullish on energy shares in 2018, I think there are better options for investors.

The Praemium Ltd (ASX: PPS) share price climbed to an all-time high of 73 cents on Tuesday. The fintech company’s shares have been on a tear since it announced in November that it has total funds under administration of more than $7 billion. For the quarter ending September 30 Praemium posted record inflows totalling $749 million thanks to contributions from new and existing clients. I think it will be one to watch this year.

The Sandfire Resources NL (ASX: SFR) share price reached a 52-week high of $7.02 this morning. Investors have been piling into the copper miner thanks to a rising copper price. The metal reached a three-and-a-half-year high last week after data revealed that Chinese copper imports had increased strongly in November. Sandfire Resources could have a strong FY 2018 if prices continue to remain at these high levels.

Finally, here are three shares which I think could climb to new 52-week highs this year. Grab them before they do!

Top 3 ASX Blue Chips To Buy In 2018

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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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