Why Cimic Group, Healius, Pilbara Minerals, and Santos shares are surging higher today

The Healius Ltd (ASX:HLS) share price and the Pilbara Minerals Ltd (ASX:PLS) share price have surged higher on Thursday. Here's why…

| More on:
a woman

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

In afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is on course to bounce back from yesterday's selloff and is up an impressive 1.5% to 5,641.8 points.

Four shares that have climbed more than most on Thursday are listed below. Here's why they are surging higher today:

The Cimic Group Ltd (ASX: CIM) share price has climbed 3.5% higher to $44.30 after the engineering company announced that its CPB Contractors business has been selected by the NSW Government to construct the Coffs Harbour Hospital Expansion Main Works. The project, which includes a new five-storey clinical services building, will generate revenue of approximately $116 million.

The Healius Ltd (ASX: HLS) share price has jumped 10% to $2.68 after revealing that it has received an unsolicited and highly conditional proposal from Jangho Hong Kong Limited to acquire all of the shares that it does not already own by way of a scheme of arrangement. Jangho Hong Kong Limited has offered $3.25 cash per share. At this stage the Healius board is not in a position to recommend the proposal, but is busy reviewing it.

The Pilbara Minerals Ltd (ASX: PLS) share price has zoomed over 14% higher to 71.5 cents after making two major announcements this morning. The first was a funding package for the stage 2 expansion of its 100%-owned Pilgangoora lithium-tantalum project in Western Australia to 5Mtpa. The second announcement was the signing of a non-binding memorandum of understanding with POSCO to consider a larger jointly owned chemical conversion facility to produce industry leading, high-grade hydroxide and carbonate products.

The Santos Ltd (ASX: STO) share price is up 5% to $5.54. Today's gain is likely to be attributable to a rise in oil prices overnight. The energy producer's shares fell heavily on Wednesday after a drop in prices, but a rebound overnight appears to have brought buyers back today.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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.

More on Share Gainers

Stock market chart in green with a rising arrow symbolising a rising share price.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a massive day for the ASX 200, with a new all-time high recorded.

Read more »

A man sits thoughtfully on the couch with a laptop on his lap.
Technology Shares

This ASX tech stock rocketed 60% in March! Can it keep on delivering?

After soaring in March, the ASX tech stock is now up 169% since this time last year.

Read more »

A young women pumps her fists in excitement after seeing some good news on her laptop.
Share Gainers

Why Mesoblast, Newmont, Pilbara Minerals, and Platinum shares are jumping

These ASX shares are ending the week strongly. But why?

Read more »

A young male ASX investor raises his clenched fists in excitement because of rising ASX share prices today
Share Gainers

3 ASX All Ords shares up 50%+ in March

These ASX shares have been on fire this month. But why?

Read more »

Woman looks amazed and shocked as she looks at her laptop.
Share Gainers

Why Mesoblast, Patriot Battery Metals, Sigma, and Zip shares are pushing higher

These shares are having a good session on hump day. But why?

Read more »

Woman looks amazed and shocked as she looks at her laptop.
Consumer Staples & Discretionary Shares

If you'd put $20,000 in this ASX retail stock at the start of 2023, you'd have $134,000 now

This online retailer has executed a remarkable turnaround for its investors.

Read more »

Fancy font saying top ten surrounded by gold leaf set against a dark background of glittering stars.
Share Gainers

Here are the top 10 ASX 200 shares today

It was back to earth for ASX shares this Tuesday.

Read more »

Two happy scientists analysing test results.
Healthcare Shares

Mesoblast share price rockets 36% on breaking FDA news

ASX investors are sending the Mesoblast share price soaring following promising FDA news.

Read more »