The Motley Fool

Why CSR, NRW, Rio Tinto, & Syrah shares stormed higher today

In afternoon trade the S&P/ASX 200 index has followed the lead of U.S. markets and is trading higher. At the time of writing the benchmark index is up 0.3% to 6,688.5 points.

Four shares that have climbed more than most today are listed below. Here’s why they have stormed higher:

The CSR Limited (ASX: CSR) share price has jumped 7% to $4.64. Investors have been buying the building products company’s shares after it was the subject of a positive broker note. According to a note out of Macquarie, its analysts have retained their outperform rating and lifted the price target on its shares to $4.80. This follows the release of its first half results at the end of last week.

The NRW Holdings Limited (ASX: NWH) share price has stormed 15% higher to $2.58. This morning the services company responded to media speculation suggesting it was interested in acquiring BGC Contracting. NRW confirmed that it has been selected as the preferred bidder in the sale of BGC Contracting. It believes there is significant merit in acquiring the company.

The Rio Tinto Limited (ASX: RIO) share price has climbed 3.5% to $93.68. The mining giant’s shares were given a boost today from a rise in commodity prices on Friday. According to CommSec, base metal prices rose by up to 2.2% on the London Metal Exchange. In addition to this, analysts at Macquarie reaffirmed their outperform rating and put a $104 price target on its shares this morning.

The Syrah Resources Ltd (ASX: SYR) share price has surged 11% higher to 45.5 cents. Investors have been buying the graphite producer’s shares after it announced the first production of purified spherical graphite from its Battery Anode Material in the United States. Management believes this represents a significant milestone at Syrah’s BAM project and its strategy of developing a vertically integrated natural graphite anode material production capability.

Top 3 Dividend Shares To Buy For 2020

When Edward Vesely -- our resident dividend expert -- has a stock tip, it can pay to listen. With huge winners like Dicker Data (up 147%) and Collins Food (up 105%) under his belt, Edward is building an enviable following amongst investors that are planning for retirement.

In a brand new report, Edward has just revealed what he believes are the 3 best dividend stocks for income-hungry investors to buy now. All 3 stocks are paying growing fully franked dividends giving you the opportunity to combine capital appreciation with attractive dividend yields.

Best of all, Edward’s “Top 3 Dividend Shares To Buy For 2020” report is totally free to all Motley Fool readers.

Click here now to access this free report.

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.

FREE REPORT: Five Cheap and Good Stocks to Buy now…

Our Motley Fool experts have FREE report, detailing 5 dirt cheap shares that you can buy today.

One stock is an Australian internet darling with a rock solid reputation and an exciting new business line that promises years (or even decades) of growth… while trading at an ultra-low price…

Another is a diversified conglomerate trading near a 52-week low all while offering a 2.7% fully franked yield…

Plus 3 more cheap bets that could position you to profit over the next 12 months!

See for yourself now. Simply click the link below to scoop up your FREE copy and discover all 5 shares. But you will want to hurry – this free report is available for a brief time only.