Although it has given back some early gains, in afternoon trade the benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has pushed higher and is up 0.1% to 6,112.3 points.
Four shares that have climbed more than most today are listed below. Here’s why they have stormed higher:
The Argosy Minerals Limited (ASX: AGY) share price has zoomed almost 8% higher to 28 cents after the lithium-focused mineral exploration company released its mineral resource estimate. According to the release, results of initial eight drill-holes reveal that the inferred mineral resource is 207,957 tonnes of contained lithium carbonate equivalent product. While not the biggest resource, it could be increased through the acquisition of neighbouring tenements.
The CSL Limited (ASX: CSL) share price has risen over 3% to $192.55 despite there being no news out of the biotherapeutics company. Earlier this month a research note out of UBS revealed that its analysts rate the company as a buy and placed a $196 price target on its shares. I would agree with this and think that CSL is a quality buy and hold investment.
The Macquarie Group Ltd (ASX: MQG) share price has pushed almost 2.5% higher to $118.95. This morning the investment bank was the subject of a positive broker note out of Morgan Stanley. Its analysts upgraded Macquarie’s shares to an overweight rating with a $130 price target. The broker believes it is well positioned to benefit from a favourable and diversified business mix.
The Money3 Corporation Limited (ASX: MNY) share price has continued its push higher and is up a further 2.5% to $2.04. The financial services company’s shares have been climbing this week after a note out of Hartleys declared it as a buy with a $2.14 price target. I agree with Hartleys and believe Money3 is a great option thanks to its successful transition into secured auto loans.
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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 Scott Phillips.