The S&P/ASX 300 Index (ASX: XKO) is relatively flat today, despite some companies charging strongly on Tuesday.
At the time of writing, the ASX 300 is up 0.22% to 7,549 points. However, the index reached another record high at 7,568 points during market open.
Let's take a look at which top ASX 300 shares are some of the biggest movers today.
Novonix Ltd (ASX: NVX)
First up, Novonix is taking up the number 1 spot on the ASX 300, surging 18.54% higher to $3.58. That means that the company's share price is up almost 60% in just 1 month.
Novonix shares came out of a trading halt today following an important market announcement. The company advised that United States energy giant, Phillips 66 has agreed to a strategic investment. As such, the Phillip 66 will acquire a 16% interest in Novonix.
Pilbara Minerals Ltd (ASX: PLS)
Next up, Pilbara Minerals has also moved higher, accelerating 11.43% to a record high of $2.34.
With no news out of the company, a possible catalyst for its strong share price rise is soaring lithium prices. The battery-making ingredient is up 1.6% week-on-week to a month to date average price of 94,000 yuan per tonne (A$19,807).
In addition, JPMorgan put an overweight rating on Pilbara Minerals, raising its price by 56% to $2.50 per share. Based on the current share price, this implies an upside of roughly 7%.
Galaxy Resources Limited (ASX: GXY)
Another lithium company, Galaxy Resources is pushing 9.63% higher to $5.35, also an all-time high for the company. Again, the company has not released any news to the market, but its shares are hopping on the back of strong lithium prices.
What about the ASX 300 fallers?
Heading the other way, Ramelius Resources Limited (ASX: RMS) is down 5.28% to $1.525 following weakness in the spot price of gold. This has also affected St Barbara Ltd (ASX: SBM) which is shedding 4.67% to $1.635 and Silver Lake Resources Limited. (ASX: SLR), down 3.85% to $1.375.
