The S&P/ASX 300 Index (ASX: XKO) is climbing in early afternoon trade, after spending the morning in negative territory.
At the time of writing, the ASX 300 is up 0.32% to 7,411 points. The index is now in the green for the past month, erasing the 4.5% loss during the “September effect”.
Let’s take a look at which ASX companies are leading the charge today.
Ioneer Ltd (ASX: INR)
The Ioneer share price is rocketing 7.75% to 69.5 cents, despite no price-sensitive news from the emerging lithium-boron company.
A reason for its shares accelerating could be that the price for lithium carbonate has accelerated in recent memory. Currently, the battery-making ingredient is fetching for a record high of 195,000 Chinese yuan a tonne. This represents a 6.8% increase week-on-week.
Paladin Energy Ltd (ASX: PDN)
Also in the spotlight today is the Paladin share price, up 5.75% to 92 cents apiece.
The uranium company’s shares are continuing to push higher following strong positive investor sentiment in the sector.
The spot price for uranium has soared further to US$48.10/lb at the time of writing. This means that the yellowcake has lifted almost 65% in a year.
Imugene Limited (ASX: IMU)
Another strong performer on the ASX 300 so far today is the Imugene share price, which is up 4.82% to 43.5 cents.
The Australian immuno-oncology focused biopharmaceutical company hasn’t released any market-sensitive news to the ASX since late last month. However, its shares have tumbled from reaching an all-time high of 51.5 cents on 24 September.
And which ASX 300 companies are heading south?
Australian Strategic Materials Ltd (ASX: ASM)
Sinking today is the Australian Strategic Materials share price, down 5.52% to $10.26.
The rare earth metals company is being sold off by investors as they take profit off the table. Ioneer shares are hovering above 60% for 2021 and are up almost 170% over the past 12 months.
Propel Funeral Partners Ltd (ASX: PFP)
Also sliding on the ASX 300 today is the Propel Funeral share price, down by 4.98% to $4.20.
The Australian-based company announced it has completed a $52.2 million institutional placement.
The capital raising efforts will see 12.25 million new shares being added at an issue price of $4.10 a pop. In addition, Propel Funeral plans to raise a further $10 million through a share purchase plan, opening on 27 October.