The Motley Fool

Why Mineral Resources Limited (ASX:MIN) is among 4 shares soaring higher today

The S&P / ASX200 (ASX: XJO) is up 0.4% to 5,666 points in morning trade today after Wall Street posted gains across its major indices overnight after a series of big falls over the last two months. There are a number of well known stocks trading far higher than the index today though. So let’s take a look at what may be supporting some of today’s top performers.

The A2 Milk Company Ltd (ASX: A2M) share price is up 6.2% to $9.93 today, with rival infant formula group Bellamy’s Australia Ltd (ASX: BAL) also up 10% to $7.93 despite neither company releasing any specific news to the market. Both businesses are heavily reliant on sales in China, which is a market subject to changing regulations, licensing and restrictions. The volatile share price moves are often related to sentiment over the businesses’ outlooks in China.

The Mineral Resources Limited (ASX: MIN) share price is 21% higher to $15.06 today after the WA-based iron ore and lithium miner revealed it has struck a joint venture agreement with US group Albermale Corporation to develop its Wodinga lithium mine. The agreement sees Albermale invest $1.58 billion in the Wodinga mine in return for a 50% ownership interest. Albermale reportedly has expertise in marketing and selling lithium worldwide and as such it seems investors are embracing the deal’s potential.

The Galaxy Resources Limited (ASX: GXY) share price is up 6.8% to $2.66 despite the West Australian and Argentina-based lithium miner releasing no specific news to the market. Galaxy share are probably getting a lift today due to the $1.58 billion investment in its lithium-ming rival Mineral Resources announced today. Galaxy posted a net profit of US$11.5 million for FY 2018 and as at September 30 2018 had US$68 million cash on hand for further mining investments.

The CSL Limited (ASX: CSL) share price is 2.2% higher to $182.64 despite the blue-chip healthcare giant releasing no news to investors. CSL shares are still down 21% from September highs as “growth” shares took a battering on the back of investor jitters over the US / China trade conflict and requirement for a Brexit deal in the UK. Despite the share price falls, CSL is maintaining guidance for 10%-14% profit growth in FY 2019.

NEW! Top 3 Dividend Bets for 2019

With interest rates likely to stay at rock bottom for months (or YEARS) to come, income-minded investors have nowhere to turn... except dividend shares. That’s why The Motley Fool’s top analysts have just prepared a brand-new report, laying out their top 3 dividend bets for 2019.

Hint: These are 3 shares you’ve probably never come across before.

They’re not the banks. Not Woolies or Wesfarmers or any of the “usual suspects.”

We think these 3 shares offer solid growth prospects over the next 12 months. The first two currently offer fat, fully franked yields. The last is a surprising REIT offering you the benefits of being a landlord with none of the hassle! You’ll discover all three names and codes in "The Motley Fool’s Top 3 Dividend Shares for 2019."

Even better, your copy is free when you click the link below. Fair warning: This report is brand new and may not be available forever. Click the link below to be among the first investors to get access to this timely, important new research!

The names of these top 3 dividend bets are all included. But you will have to hurry. Depending on demand – and how quickly the share prices of these companies move – we may be forced to remove this report.

Click here to claim your free copy right now!

Motley Fool contributor Yulia Mosaleva owns shares of CSL Ltd. The Motley Fool Australia owns shares of A2 Milk. 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.

5 ASX Stocks for Building Wealth After 50

I just read that Warren Buffett, the world’s best investor, made over 99% of his massive fortune after his 50th birthday.

It just goes to show you… it’s never too late to start securing your financial future.

And Motley Fool Chief Investment Advisor Scott Phillips just released a brand-new report that reveals five of our favourite ASX stocks for building wealth after 50.

– Each company boasts strong growth prospects over the next 3 to 5 years…

– Most importantly each pays a generous dividend, fully franked.

Simply click here to find out how you can claim your FREE copy of “5 ASX Stocks for Building Wealth After 50.”

See the stocks now