Why Costa, Galaxy, Oil Search, & Ramelius shares are pushing higher

Galaxy Resources Limited (ASX:GXY) and Ramelius Resources Limited (ASX:RMS) shares are two of four pushing higher on Thursday…

| More on:
high share price

Image source: Getty Images

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 S&P/ASX 200 Index (ASX: XJO) is on course to end the year with a decline on Thursday. In late morning trade, the benchmark index is down 0.3% to 6,661.7 points.

Four shares that are not letting that hold them back are listed below. Here's why they are pushing higher:

Costa Group Holdings Ltd (ASX: CGC)

The Costa share price is up 2% to $4.16. This morning Vitalharvest Freehold Trust (ASX: VTH) provided an update on its takeover by Macquarie Agricultural Funds Management. Costa leases seven farms from Vitalharvest and has agreed long term deals with Macquarie for them. Investors appear happy with the transaction's progress.

Galaxy Resources Limited (ASX: GXY)

The Galaxy share price has pushed 3% higher to $2.27. The lithium miner's shares have been strong performers recently and hit a multi-year high earlier today. Investors have been buying the company's shares on the belief that lithium demand will increase greatly in the coming years thanks to growing electric vehicle adoption.

Oil Search Ltd (ASX: OSH)

The Oil Search share price has climbed 2% to $3.73. This appears to have been driven by a rise in oil prices overnight after a better than expected inventory draw in the United States. According to CNBC, Brent crude oil futures gained 0.5% to settle at US$51.34 per barrel and U.S. West Texas Intermediate (WTI) crude oil advanced 0.8% to settle at US$48.40 per barrel.

Ramelius Resources Limited (ASX: RMS)

The Ramelius share price has risen 3.5% to $1.68. Investors have been buying the gold miner's shares after the price of the precious metal pushed higher overnight following further weakness in the US dollar. It isn't just the Ramelius share price that is advancing this morning. At the time of writing, the S&P/ASX All Ordinaries Gold index is up a decent 1.2%.

Motley Fool contributor James Mickleboro owns shares of Galaxy Resources Limited. The Motley Fool Australia owns shares of and has recommended COSTA GRP FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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 »