While 2017 was a great year for many ASX companies, some didn’t do so well.
But 2018 could prove more fruitful, particularly for these companies which are already off to flying starts.
Highfield Resources Ltd (ASX: HFR)
The Highfield Resources Ltd share price was up by more than 10 per cent on Wednesday as the company continues to recover from a rocky 2017.
The Highfield Resources share price slumped to 88 cents in late November but has since been moving up, gaining more than 25 per cent to trade at its current price of $1.11.
Highfield Resources, a Spanish potash developer with a market cap $365 million, endured a turbulent 2017 as its share price started the year at around $1.33 before dropping to a low 76 cents.
But 2018 has seen the company’s stock off to a strong start.
Highfield Resources reported a net loss for financial year (FY) 2017 exceeding $7 million, an improvement on FY 2016’s loss of about $10.4 million.
Boart Longyear Ltd. (ASX: BLY)
2017 certainly was a long year for Boart’s shareholders who watched the company’s share price drop by almost 90 per cent.
But 2018 is looking better for the Boart share price, having gained about 9 per cent on Wednesday.
Boart, a leading supplier of drilling services, equipment and tooling for mining and drilling companies, with a market value of $315 million, may turn things around this year.
In the quarter ended 30 September 2017, Boart reported revenue of $70 million, 14 per cent up on the prior corresponding period.
Altura Mining Ltd (ASX: AJM)
The Altura Mining Ltd share price notched up another 6.7 per cent on Wednesday, adding to gains over the past year of more than 250 per cent.
Altura Mining is hopeful that its flagship project at Pilgangoora, in Western Australia’s north, will establish the company as a significant player in the lithium sector.
Altura wasn’t the only lithium company to enjoy gains on Wednesday.
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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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