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Appen and these ASX shares have more than doubled in value in just 12 months

share price higher
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Earlier today I looked at three shares that have lost half of their value over the last 12 months.

Thankfully, not all shares have performed as poorly as these. The three listed below have more than doubled in value over the last 12 months. Is it too late to invest?

The Appen Ltd (ASX: APX) share price has rocketed a massive 155% since this time last year. Investors have been buying the shares of the global leader in the development of high-quality, human annotated datasets for machine learning and artificial intelligence due to its impressive performance in FY 2018 and positive outlook. Thanks to the accelerating AI market and the high and growing demand for quality training data, Appen achieved underlying EBITDA of $71.3 million in FY 2018. This was an increase of 153% on FY 2017’s result. Looking ahead, management expects the increasing demand for its services to result in further strong growth in FY 2019. Whilst its shares look fully valued now, I would still be a buyer if you’re prepared to hold its shares for the long term.

The Mount Gibson Iron Limited (ASX: MGX) share price has risen a sizeable 145% over the last 12 months. The majority of this gain has been made over the last few months thanks to a material rise in iron ore prices following supply disruptions in both Brazil and Australia. As I feel that iron ore prices may now have peaked, I wouldn’t be a buyer of its shares at this point.

The Pro Medicus Limited (ASX: PME) share price has risen a massive 123% since this time last year. The healthcare technology company’s shares have been on a tear since the release of its half year results in February. During the first half of FY 2019 Pro Medicus posted a 59.4% increase in half year revenue to $25.3 million and a 79.9% jump in underlying net profit after tax to $9.2 million. Strong demand for its popular Visage health imaging software in all its key markets drove the impressive result. I expect more of the same in the second half and beyond, making Pro Medicus a great buy and hold option.

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Returns as of 6th October 2020

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of and recommends Pro Medicus Ltd. The Motley Fool Australia owns shares of Appen Ltd. The Motley Fool Australia has recommended Pro Medicus 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.

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