Why Appen, Beach Energy, & Syrah shares are up 30% in a month

Appen Ltd (ASX:APX), Beach Energy Ltd (ASX:BPT), and Syrah Resources Ltd (ASX:SYR) shares are up over 30% in a month. 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

The Australian share market has been on a stunning run over the last few weeks, leading to the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) posting a monthly gain of 7.5%.

While this gain is impressive, some shares on the benchmark index have managed to put on even stronger gains over the period.

Three of the best performers over the last 30 days with gains of over 30% are listed below. Here's why they have been on fire:

The Appen Ltd (ASX: APX) share price has zoomed 31.5% higher since this time last month. After being sold off during October and November, investors appear to have returned in their droves to pick up shares at an attractive price over the last 30 days. While the language technology data and services provider is certainly not the bargain buy it was a month ago, at 33x estimated FY 2019 earnings I still see value in its shares for buy and hold investors.

The Beach Energy Ltd (ASX: BPT) share price has raced 33.5% higher over the last 30 days. Beach and its energy sector peers have been on fire over the period due to a recovery in oil prices. This strong run looks set to extend on Monday after the oil price rebound continued on Friday. According to Bloomberg, the WTI crude oil price rose 3.3% to a two-month high of US$53.80 a barrel and the Brent crude oil price pushed 2.5% higher to US$62.70 a barrel.

The Syrah Resources Ltd (ASX: SYR) share price has rocketed 40% since this time last month. A series of positive announcements out of the graphite miner during the period have led to investors fighting to get hold of shares. These announcements include a binding sales agreement with Qingdao Langruite Graphite in December and last week's announcement revealing that commercial production has finally been declared at its Balama graphite project. Things are certainly looking a lot more positive for Syrah, but I would suggest investors wait for its half year results before considering an investment.

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

More on Share Gainers

A happy young couple lie on a wooden deck using a skateboard for a pillow.
Share Gainers

These were the best-performing ASX 200 shares in March

These shares made their shareholders smile in March thanks to some very big gains.

Read more »

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 »