Why Eagers Automotive, Firefinch, Latin Resources, and Piedmont Lithium are rising today

These ASX shares are having a great day…

| More on:

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

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record another strong gain. At the time of writing, the benchmark index is up 0.8% to 7,524 points.

Four ASX shares that are climbing more than most today are listed below. Here’s why they are rising:

Eagers Automotive Ltd (ASX: APE)

The Eagers Automotive share price is up over 2% to $14.40. This morning the automotive retailer announced an agreement with WFM Motors to acquire a portfolio of dealerships and associated properties located in Canberra for approximately $205 million. The portfolio covers a range of brands including Toyota, Ford, Volkswagen, Jeep, Lexus, Subaru, Mitsubishi, Volvo, and GMSV.

Firefinch Ltd (ASX: FFX)

The Firefinch share price is up almost 13% to $1.06. Investors have been buying the mineral exploration company’s shares after it announced that it has been granted a mining licence covering the Finkola exploration licence. The Finkola licence is located 23 kilometres north-west of Firefinch’s Morila Gold Mine and contains the Beledjo-Koting gold deposit and other prospects.

Latin Resources Ltd (ASX: LRS)

The Latin Resources share price has jumped 24% to 9.4 cents. This follows the release of the first assay results from drilling at the Salinas Lithium Project in Brazil. These results have confirmed spodumene rich pegmatites that contain high-grade lithium, with a peak grade of 3.22% Li2O returned from one sample. Management believes the results point to a potential major new lithium discovery.

Piedmont Lithium Inc (ASX: PLL)

The Piedmont Lithium share price is up 2% to 97 cents. This morning the lithium developer announced that its partner, Atlantic Lithium, has completed a mineral resource estimate update for the Ewoyaa Project in Ghana. Atlantic Lithium’s new mineral resource estimate is a total of 30.1 million metric tonnes at 1.26% Li2O. This represents a sizeable 42% increase on its previous estimate. Piedmont has the option to earn-in a 50% interest in this project.

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. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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

asx share price increase represented by golden dollar sign rocketing out from white domes of lithium
Resources Shares

Why is the Pilbara Minerals share price having such a strong end to the week?

The lithium miner charged up on Friday.

Read more »

Group of people cheer around tablets in office
Technology Shares

These 3 ASX tech shares had a cracking day on the ASX today

Some ASX tech shares were on fire this Friday...

Read more »

Two smiling men in high visibility vests and yellow hardhats stand side by side with a large mound of earth and mining equipment behind them smiling as the Carnaby Resources share price rises today
Share Gainers

Why is the Piedmont Lithium share price off to such a great start in August?

Piedmont shares extend gains this week.

Read more »

A couple are shocked and elated at the good news they've just seen on their devices.
Share Gainers

Why Core Lithium, European Lithium, Incannex, and Qantas shares are pushing higher

These ASX shares are ending the week strongly...

Read more »

a man and woman agreeing to a deal with a handshake
Share Gainers

Guess which ASX lithium share is rocketing 18% on a new deal with BMW

The lithium explorer and near-term producer emerged from a trading halt this morning.

Read more »

Happy woman miner with her thumb up signalling Wyloo's commitment to back IGO's takeover of Western Areas nickel
Share Gainers

Why has the Lynas share price surged 22% in the last 3 weeks?

It's been a stellar run for the company since the start of FY23.

Read more »

a young woman raises her hands in joyful celebration as she sits at her computer in a home environment.
Share Gainers

Why Appen, Centuria Industrial, NRW, and Sayona Mining shares are pushing higher

These ASX shares are pushing higher today...

Read more »

a man sits at his computer screen scrolling with his fingers with a satisfied smile on his face as though he is very content with the news he is receiving.
Share Gainers

Why is the Kogan share price kicking goals on Thursday?

Investors have been busy on the online retailer's shares these past few weeks.

Read more »