The benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) looks set to start the month with a disappointing decline. In afternoon trade it is down 0.9% to 5,962 points.
Four shares that have gone against the grain today and pushed higher are listed below. Here’s why they have started the month with solid gains:
The Bingo Industries Ltd (ASX: BIN) share price has climbed almost 3% to $2.63. Today’s gain is likely to be attributable to a broker note out of UBS. That note revealed that its analysts have retained their buy rating and increased the price target on the waste management company’s shares to $3.20 following the release of a solid half-year result. I would have to agree with UBS on this one.
The Digitalx Ltd (ASX: DCC) share price has jumped 10% to 24.7. This morning the blockchain company posted an US$8 million first-half profit. The strong half was driven partly by blockchain and ICO consulting and advisory fees growth, but mainly through gains in the value of digital assets held by the company. Sales for the period were just US$3.5 million, whereas the net fair value gain on digital assets held was almost US$8.1 million. It is worth noting that the bitcoin price has fallen 22% since the end of the period.
The Lepidico Ltd (ASX: LPD) share price is up 6% to 5.2 cents. Although almost all lithium miners are sinking notably lower today, Lepidico has avoided the sell-off thanks to positive news related to its L-Max process. According to the release, the L-Max technology has delivered high recoveries and battery grade lithium carbonate from a tailings stream sourced from the Mt Cattlin spodumene operations owned by Galaxy Resources Limited (ASX: GXY).
The Yancoal Australia Ltd (ASX: YAL) share price is over 3% higher to 16 cents after the coal miner released its full-year results to the market. According to the release, Yancoal achieved full-year profit after tax before non-operating items of $319 million, compared to a loss of $90 million a year earlier.
5 stocks under $5
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And while Altium and Afterpay have had a good run, we think these 5 other stocks are screaming buys. And you can buy them now for less than $5 a share!
*Extreme Opportunities returns as of June 5th 2020
Motley Fool contributor James Mickleboro owns shares of Galaxy Resources Limited. 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 Scott Phillips.
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