Why these 4 ASX shares are ending the week with a bang

In afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is on course to finish the week with a day in the red. At the time of writing the benchmark index has bounced off its lows but is still down 0.3% to 5,926.6 points.

Four shares that have defied the market decline today are listed below. Here’s why they are ending the week with a bang:

The Galaxy Resources Limited (ASX: GXY) share price is up almost 7% to $2.35. On Thursday the lithium miner’s shares sank to a 52-week low after the release of a disappointing production update. Despite the disappointing performance, a broker note out of  Macquarie reveals that its analysts have held firm with their outperform rating on its shares. However, they have cut the price target on Galaxy’s shares to $3.00.

The Regis Resources Limited (ASX: RRL) share price has pushed 4.5% higher to $4.18. Investors have responded positively to the gold miner’s quarterly production update which was released this morning. In the first quarter Regis produced 90,879 ounces of gold, which was in line with production in its previous quarter. Another positive was that company reported an all-in sustaining cost of $923 an ounce, down 6% from $982 an ounce in previous quarter.

The St Barbara Ltd (ASX: SBM) share price has climbed over 5% to $4.13. The majority of Australia’s leading gold miners are on the rise today as investors head into safe haven assets. This has led to the S&P/ASX All Ords Gold index rising 2.2% at the time of writing.

The Washington H. Soul Pattinson and Co. Ltd (ASX: SOL) share price is up 3% to $29.91 despite there being no news out of the investment house. This latest gain means that its shares have now risen a staggering 80% since this time last year. While I do like the company, I feel its valuation is getting a little stretched now.

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Motley Fool contributor James Mickleboro owns shares of Galaxy Resources Limited. The Motley Fool Australia owns shares of and has recommended Washington H. Soul Pattinson and Company 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.

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