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3 ASX shares that have outperformed over the past year

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The past twelve months has been a tumultuous time for ASX shares. The COVID-19-induced bear market in February/March 2020 saw most ASX shares shed significant value. Whilst many ASX listed companies have since gone on to recoup those losses, the S&P/ASX 200 Index (ASX: XJO) is still trading more than 4% lower than this time last year.

Some ASX shares, however, have managed to firmly outperform the wider market during this period. Here we take a look at 3 such companies that have experienced significant growth over the last year.

Jindalee Resources Limited (ASX: JRL)

At the close of trade today, Jindalee Resources shares were trading 5.5% lower at $1.37. Over the past twelve months, however, the Jindalee share price is up nearly 400%. Jindalee Resources is an exploration company focused on lithium, gold, iron ore, base and strategic metals, uranium and magnesite.

In a shareholder update provided on 14 January, Jindalee announced positive results pertaining to its McDermitt lithium project. Summarising the highlights, the company stated: “Metallurgical testwork to date has been very encouraging, indicating high lithium recoveries from conventional sulphuric acid leaching at low temperature and atmospheric pressure.”

The company also advised it is exploring further options regarding the possible listing of its lithium assets on a North American stock exchange. 

Jindalee currently has two lithium projects in the United States: the McDermitt flagship project in Oregon and the pre-exploration Clayton North project in Nevada.

The company believes that the demand for lithium-ion batteries will increase significantly as the adoption of electric vehicles continues to accelerate.

Openpay Group Ltd (ASX: OPY) 

The Openpay share price gained more than 3% on Friday in contrast to the wider market, which was trending lower. Openpay shares have also increased an impressive 118% over the past twelve months. 

Openpay offers ‘no interest’ payment services to customers and competes alongside big-name players, such as Zip Co Ltd (ASX: Z1P) and Afterpay Ltd (ASX: APT), in the buy now, pay later (BNPL) industry.

The company refers to itself as “a fast-growing and highly differentiated player in the global ‘buy now pay later’ payment solutions market.” Openpay operates in Australia, New Zealand, the United Kingdowm and, as of December 2020, the US. Openpay even invited investors to watch a video recording of its US launch. The Openpay share price rocketed up by more than 27% on 16 December 2020 when the company broke news of its US expansion

Openpay will provide a FY21 second quarter update next Thursday 28 January.

Cluey Ltd (ASX: CLU)

The Cluey share price finished Friday’s session up 2.3% and around 8% higher over the past year. Whilst this represents a much more modest gain than the abovementioned shares, Cluey has still managed to decisively outperform the wider market over the same timeframe.

Cluey defines itself as “an Australian education technology company that supports the learning growth of students by bringing together expert educators, cutting-edge technology and proprietary learning data to offer students a range of targeted learning services.”

The company posted cash and cash equivalents of around $13 million in its 30 June 2020 annual report. In a January 2021 update, Cluey advised it has forecast a 218% increase in revenue to ~$15.5 million in FY2021.

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Gretchen Kennedy has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of ZIPCOLTD FPO. The Motley Fool Australia owns shares of AFTERPAY T FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Gretchen Kennedy