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Is it too late to buy these market beating All Ordinaries shares?

With the All Ordinaries (Index: ^AXAO) (ASX: XAO) down 8% year to date, it hasn’t been hard to be a market beater.

However, the three shares below have generated such strong returns this year that they would have smashed the market even if it had not had its meltdown.

Is it too late to invest in their shares?

The OceanaGold Corp (ASX: OGC) share price has climbed an impressive 38.5% in 2018. As well as benefiting from a rising gold price due to increasing demand for risk off assets following the market volatility, OceanaGold’s strong performance this year has caught the eye of investors. As of the end of the third quarter, the company had achieved gold production of 406,631 ounces. This strong production meant management has had to upgrade its full year guidance twice this year. It also means that revenue and net profit are up 23% and 33%, respectively, compared to the prior corresponding period. As impressive as this is, I think its shares are looking fully valued now.

The Xero Limited (ASX: XRO) share price has rocketed 46.5% this year despite a reasonable pullback over the last couple of months. Investors have been fighting to get hold of the accounting software company’s shares following a strong result in FY 2018 and a very positive start to FY 2019. Xero recently reported a 37% jump in first half revenue to $256.5 million thanks to the addition of 193,000 net subscribers and a 6% lift in its average revenue per user metric. While its shares are by no means cheap, I think they would still be a great buy and hold option for patient investors.

The Zip Co Ltd (ASX: Z1P) share price has zoomed 53% higher in 2018. The payment solutions company has broken out of the shadow of Afterpay Touch Group Ltd (ASX: APT) thanks to some key strategic deals with popular retailers and its strong financial performance. In the first quarter of FY 2019 Zip Co reported quarterly revenue of $15 million, up 117% on the prior corresponding period. I think it could be worth keeping a close eye on Zip Co in 2019.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of AFTERPAY T FPO and Xero. 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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