The S&P/ASX 300 Index (ASX: XKO) is edging higher on Monday, regaining lost ground from last week’s fall.
During early-afternoon trade, the ASX 300 is up 0.17% to 7,422 points. This means that the index is around 2.6% off its record high of 7,625 points reached on 13 August.
Let’s take a look at which ASX companies are the strong performers today.
Liontown Resources Limited (ASX: LTR)
The Liontown Resources share price is on fire again today, adding another 19.47% to $1.35. This means over the past week, the emerging lithium producer’s shares are up almost 32% and, year-to-date, up 289%.
Despite no new news coming out of the company, investors are excited about the battery material sector.
Liontown Resources is focusing on developing its wholly-owned world-class Kathleen Valley Lithium Project. The asset is considered a tier-1 battery metals site with excellent grade and scale in one of Western Australia’s best mining districts.
Paladin Energy Ltd (ASX: PDN)
Another strong mover for the start of the week is the Paladin share price, up 15.44% to 98.7 cents apiece.
The uranium producer hasn’t released any news since its full-year results late last month.
However, in its annual report, Paladin advised that the Langer Heinrich Mine is progressing towards restarting production. In addition, management is engaging with global nuclear energy utilities to secure long-term contracts for the future.
Paladin shares too have risen close to 35% since this time last week. Over the course of the past month, its shares have almost doubled in value.
Sydney Airport (ASX: SYD)
The Sydney Airport share price is pushing higher on Monday, with a 4.69% gain to $8.37.
The airport operator updated the ASX today with a revised conditional and non-binding proposal from the Sydney Aviation Alliance. An offer to acquire 100% of Sydney Airport shares of $8.75 per share has been put forward.
The company intends to grant the consortium due diligence on a non-exclusive basis which is expected to take 4 weeks.
Now, let’s take a look at which ASX 300 companies are heading the other way.
Australian Strategic Materials Ltd (ASX: ASM)
Falling today is the Australian Strategic Minerals share price, down 10.99% to $10.69, with no new market announcements from the company.
Investors have sold off the rare earth elements miner’s shares after they reached an all-time high of $14.00 last month. Since January 2021, its shares have accelerated by more than 69% and 442% in the last year.
Chalice Mining Ltd (ASX: CHN)
Also being weighed down by investors today is the Chalice share price, down 8.15% to $6.59.
The gold explorer saw demand for the yellow metal wane overnight with prices dropping to as low as US$1,785 per ounce. This affected the company’s shares, although the spot price has surged higher in the hours following.