Which ASX 300 shares are the biggest winners and losers on Tuesday?

Which ASX 300 companies are on the move?

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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.

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Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Propel Funeral Partners Ltd. 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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