MENU

These small cap ASX shares are surging higher on Tuesday

In early afternoon trade the Australian share market has given back many of its morning gains but still sits higher by 0.1%.

Three shares that are climbing more than most at the small end of the market are listed below. Here’s why they are surging higher:

The Bellevue Gold Ltd (ASX: BGL) share price has pushed 2.5% higher to 44 cents. This morning a note out of the Macquarie equities desk revealed that its analysts have initiated coverage on the gold miner with an outperform rating and 70 cents price target. Macquarie believes the high-grade resource that has been defined at its Bellevue site could be developed into a standalone project. In addition to this, it believes the project would be an attractive acquisition target for a larger player.

The Pro-Pac Packaging Limited (ASX: PPG) share price has jumped 7.5% higher to 21.5 cents on the day of the packaging company’s annual general meeting. Yesterday the company’s shares fell heavily after it downgraded its EBITDA guidance for FY 2019 to the range of $30 million to $33 million due to the impact that drought conditions and higher raw material input costs have had on its Flexibles packaging business. This morning the company revealed that its chief executive officer, Grant Harrod, has tendered his resignation. The market may believe a change at the top is necessary to improve the company’s performance.

The QANTM Intellectual Property Ltd (ASX: QIP) share price has surged 7% higher to $1.40 after the intellectual property services company confirmed that it has received a $1.80 per share unsolicited, indicative, preliminary, conditional and non-binding acquisition proposal from IPH Ltd (ASX: IPH). However, the QANTM board believes the proposal is not in the best interests of shareholders. Instead, it continues to support the planned merger with Xenith IP Group Ltd (ASX: XIP).

Missed these gains? Then don't miss these shares that have been tipped as potential market beaters.

Top 3 ASX Blue Chips To Buy For 2019

For many, blue chip stocks mean stability, profitability and regular dividends, often fully franked..

But knowing which blue chips to buy, and when, can be fraught with danger.

The Motley Fool’s in-house analyst team has poured over thousands of hours worth of proprietary research to bring you the names of "The Motley Fool’s Top 3 Blue Chip Stocks for 2019."

Each one pays a fully franked dividend. The names of these Top 3 ASX Blue Chips are included in this specially prepared free report. But you will have to hurry. Depending on demand – and how quickly the share prices of these companies moves – we may be forced to remove this report.

Click here to claim your free report.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended IPH Ltd. 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.

Two New Stock Picks Every Month!

Not to alarm you, but you’re about to miss a very important event! Chief Investment Advisor Scott Phillips and his team at Motley Fool Share Advisor are about to reveal their latest official stock recommendation. The premium “buy alert” will be unveiled to members and you can be among the first to act on the tip.

Don’t let this opportunity pass you by – this is your chance to get in early!

Simply enter your email now to find out how you can get instant access.

By clicking this button, you agree to our Terms of Service and Privacy Policy. We will use your email address only to keep you informed about updates to our website and about other products and services we think might interest you. You can unsubscribe from Take Stock at anytime. Please refer to our Financial Services Guide (FSG) for more information.