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These 3 ASX shares have tripled in value in 12 months

The All Ordinaries (Index: ^AXAO) (ASX: XAO) may be up a solid 7% over the last 12 months, but that gain pales in comparison to some of the gains being made by shares on the index.

Three shares which have stood head and shoulders above the rest are listed below. Here’s why they have at least tripled in value in the space of 12 months:

The Bellamy’s Australia Ltd (ASX: BAL) share price is up 269% over the last 12 months. This time last year the infant formula company looked like it could be on the verge of going under, but management has miraculously turned things around and the company is a market darling once again. Earlier this week Bellamy’s upgraded its FY 2018 guidance for a second time and now expects revenue to grow between 30% and 35%. As well as this, the company has revised its EBITDA margin guidance to between 20% and 23%. I’ve been very impressed by Bellamy’s performance and think it could be a great option for investors even if its shares have more than tripled in value.

The Clean TeQ Holdings Limited (ASX: CLQ) share price has risen 212% since this time last year. Investors have been fighting to get hold of the company’s shares due to its exposure to the cobalt boom. Clean TeQ’s Syerston Nickel Cobalt Scandium Project in New South Wales is one of the largest and highest grade sources of cobalt outside Africa. This puts it in a strong position to profit from the increasing demand for cobalt to be used in the lithium-ion batteries of electric vehicles.

The Kidman Resources Ltd (ASX: KDR) share price has rocketed 304% during the last 12 months. Kidman has attracted a growing number of admirers over this time thanks to the lithium miner’s world class Mt Holland asset. While I do think the Kidman has a lot of potential, I feel that this rally higher now means that its shares are about fair value. In light of this, I would class the miner as a hold now.

Looking for the next shares to rocket? Then don't miss these exciting shares.

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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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