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.
