MENU

Why these 4 ASX shares stormed higher today

In afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is on course to snap its losing streak and is 0.1% higher at 6,203.6 points.

Four shares which have climbed more than most today are listed below. Here’s why they have stormed higher:

The AVZ Minerals Ltd (ASX: AVZ) share price has continued its recovery and is up a further 15% to 11.5 cents. The lithium focused mineral exploration company’s shares have been on a tear since it revealed it has appointed someone to conduct a scoping study at its Manono lithium project in the Democratic Republic of Congo. I intend to stay away from AVZ Minerals as I’m not convinced that the project is viable.

The Cann Group Ltd (ASX: CAN) share price is up a further 8% to $3.24. Cann Group’s shares have been on fire this week after it announced the signing of an agreement for the lease and build of its Stage 3 cultivation and GMP manufacturing facility near Melbourne Airport. According to the release, the total business case investment is estimated to be circa $100 million, which the cannabis company will use a combination of debt and equity to fund.

The NIB Holdings Limited (ASX: NHF) share price has stormed almost 7% higher to $5.87 after being the subject of a positive broker note. The private health insurer was upgraded to a buy rating from neutral by Deutsche Bank today with a price target of $6.55. The broker suspects that it could be benefitting from lower claims following recent trading updates in the hospital industry.

The Pro Medicus Limited (ASX: PME) share price has rocketed 13.5% higher to $8.03 after announcing a deal with Mercy Health for its Visage 7 technology. Mercy will standardise Visage 7 Open Archive across its diagnostic imaging business in a deal which is expected to be worth $15 million to Pro Medicus over a seven-year period. Management also advised that it is a transaction-based model with potential upside.

The Disruptors: 3 Revolutionary Aussie Companies to Back for 2018

We’re living in one of the most exciting times in investing history. Innovation and a booming culture of entrepreneurship are constantly creating new companies with the potential to make forward-thinking investors very rich. Now more than ever, one small, smart investment could make a huge difference to your wealth.

That’s why at The Motley Fool we’ve been scrutinizing the ASX to uncover the kinds of companies that we believe could turn into the next Cochlear or REA Group.

We’ve found three exciting companies that we believe re poised to perform in the new year. Click here to uncover these ideas!

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended PRO Medicus Ltd. The Motley Fool Australia has recommended NIB Holdings Limited. 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.

The 5 mining stocks we’re recommending in 2019…

For decades, Australian mining companies have minted money for individual investors like you and me. But if you believe the pundits and talking heads on TV, those days are long gone. Finito! Behind us forever…

We say nothing could be further from the truth. To earn the really massive returns, you’ve got to fish where others aren’t fishing—and the mining sector could be primed for a resurgence. That’s why top Motley Fool analysts just revealed their exciting new research on 5 ASX miners they believe could help you profit in 2019 and beyond…

Including:

The best way we see to play the global zinc shortage… Our #1 favourite large-cap miner (hint: it’s not BHP)… one early-stage gold miner we think could hit the motherlode… Plus two more surprising companies you probably haven’t heard of yet!

For free access to our brand-new research, simply click here or the link below. But be warned, this research is available free for a limited time only, and we reserve the right to withdraw it at any time.

Click here for your FREE report!