The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has followed the lead of international markets and pushed higher on Friday. In afternoon trade the benchmark index is up 0.45% to 6,243.2 points.
Four shares that are climbing more than most today are listed below. Here’s why they are ending the week with a bang:
The Altura Mining Ltd (ASX: AJM) share price has zoomed 6.5% higher to 32.5 cents. Almost all Australian lithium miners have pushed higher today as investors return to the space in large numbers. This could have been driven by a note out of Goldman Sachs this week. According to the note, via the Financial Times, the broker has suggested that the selloff in lithium equities this year has been “overdone”. It thinks that investor concerns over a wave of supply in the electric car battery material from new mines are unfounded.
The Cooper Energy Ltd (ASX: COE) share price has rocketed 10.5% higher to 39.2 cents after the gas producer advised that Sole-3 flow-back has been completed successfully. As a result, management has stated that it now has “a well in place, ready to go, with production capability exceeding project requirements.”. It is aiming to connect the Sole gas field with the Orbost Gas Processing Plant in October 2018.
The MNF Group Ltd (ASX: MNF) share price has raced over 3% higher to $5.21 after completing the acquisition of the SuperInternet Group. According to the release, completion was finalised following receipt of regulatory approvals. MNF Group paid S$2 million (A$2 million) for the fully licensed independent Facilities Based Operator in Singapore.
The St Barbara Ltd (ASX: SBM) share price has jumped 6.5% to $5.09 following the release of the gold miner’s fourth quarter production update. St Barbara achieved record fourth quarter gold production of 119,436 ounces, lifting its full-year production to a record of 403,089 ounces. This was well ahead of its guidance range and left the company with a strong balance sheet of A$344 million in cash and term deposits and no debt.
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended MNF Group 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.