Why Bellevue Gold, South32, Starpharma, and Tuas shares are pushing higher

These ASX shares are on form on Wednesday…

| More on:
A graphic image of three upward pointing arrows with smoke coming from their bottoms, indicating the arrows are taking off just like the Althea share price today

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The S&P/ASX 200 Index (ASX: XJO) is off its intraday lows but remains on course to start the month with a decline. In afternoon trade, the benchmark index is down 0.6% to 7,214.5 points.

Four ASX shares that are not letting that hold them back today are listed below. Here’s why they are pushing higher:

Bellevue Gold Ltd (ASX: BGL)

The Bellevue Gold share price is up 3.5% to 82.3 cents. This morning the gold developer announced that it has executed its project loan facility of $200 million with Macquarie Group Ltd (ASX: MQG). Combined with its existing cash reserves of $188 million, this means development of the Bellevue Gold Project in Western Australia is fully funded through to production and cashflow.

South32 Ltd (ASX: S32)

The South32 share price is up 3.5% to $3.65. This could be a delayed reaction to a bullish broker note out of Citi on Tuesday. According to the note, the broker has retained its buy rating and lifted its price target on the mining giant’s shares to $4.45. Citi lifted its valuation to reflect the acquisition of a 45% interest in the Sierra Gorda Copper Mine.

Starpharma Holdings Limited (ASX: SPL)

The Starpharma share price has jumped 10.5% to $1.20. Investors have been buying the dendrimer products developer’s shares after it announced that its antiviral nasal spray will be launched in Vietnam this week. Starpharma recently signed initial distribution agreements to supply 100,000 units in the country and is finalising a contract for ongoing supply of the product.

Tuas Ltd (ASX: TUA)

The Tuas share price has surged 14.5% to $1.98. This telco’s shares have been storming higher this week after announcing the acquisition of additional 5G spectrum in Singapore. The licence of the spectrum is 15 years in duration and requires it to be used for standalone 5G network services. TPG Singapore intends to move quickly to commence rolling out 5G equipment.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of and has recommended Starpharma Holdings Limited. The Motley Fool Australia has recommended Macquarie Group Limited and Starpharma Holdings Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Share Gainers

A graphic showing a businessman running up a white upwards rising arrow symbolising the soaring Magellan share price today
Share Gainers

Why Regis Resources, Sayona, Woodside, and Xero shares are pushing higher

These ASX shares are on form on Tuesday...

Read more »

A GWR Group female employee in a hard hat and overalls with high visibility stripes sits at the wheel of a large mining vehicle with mining equipment in the background.
Resources Shares

Why has the Pilbara Minerals share price soared 57% in FY22?

How did the Pilbara Minerals share price perform in the financial year?

Read more »

A man with a scrappy beard and wearing dark sunglasses and a beanie head covering raises a fist in happy celebration as he sits at is computer in a home environment.
Technology Shares

How Brainchip shares gained 63% in a year when tech stocks nosedived

The computer hardware provider was once considered a meme stock. Is it fair dinkum now?

Read more »

A technical manufacturer checks his work in a high-tech lab with precision equipment in the background.
Share Gainers

Guess which ASX All Ords share soared 21% to an 8-year high on Monday

One ASX All Ordinaries share enjoyed a stellar start to the week.

Read more »

Green arrow with green stock prices symbolising a rising share price.
Share Gainers

Why APM, Block, Breville, and Superloop shares are charging higher

These ASX shares are charging higher on Monday...

Read more »

health workers shake hands and congratulate each other on good news
Share Gainers

This ASX All Ordindaries healthcare share is ripping 17% higher amid a new contract win

Investors seem to like the contract win from this healthcare player.

Read more »

A boy leaps and flaps his arms as he tries to fly with some birds on the shoreline of the beach.
Share Gainers

5 best ASX All Ordinaries shares in June

Why did these ASX shares fly while the All Ords dropped?

Read more »

a man looks down at his phone with a look of happy surprise on his face as though he is thrilled with good news.
Share Gainers

Why Austal, Mesoblast, Regis Resources, and Zip shares are charging higher

These ASX shares are ending the week strongly...

Read more »