3 ASX All Ords commodities shares smashing new highs today

These stocks are all surging to new multi-year or record highs on Friday.

| 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

It’s a good day on the market for ASX commodities shares, and these 3 All Ordinaries Index (ASX: XAO) stocks are making the most of it.

These commodity-producing shares have each taken off to hit new multi-year or all-time highs.

So, what’s been driving them upwards on Friday? Let’s take a look.

3 ASX All Ords commodities shares beating records on Friday

Firefinch Ltd (ASX: FFX)

The Firefinch share price has been flying higher lately, having gained 64% over the last 30 days.

That gain has continued today, with the company’s stock surging 9.5% to a new multi-year high of $1.15 in intraday trade.

Today’s boost has been driven by news of the company’s Goulamina Lithium Project.

The project’s joint venture company has received US$130 million of funding from its 50% owner Jiangxi Ganfeng Lithium.

Firefinch is planning to ultimately divest its holding in the project as part of a proposed demerger.

Neometals Ltd (ASX: NMT)

The Neometals share price is also taking off on Friday, launching 11.9% to reach $1.97 at its highest point of today’s session so far.

That gain also saw the ASX All Ords commodity stock reach an all-time high.   

The last time the market heard news from the vanadium producer and lithium recycler was on Tuesday.

Then, it released news of its joint venture, Primobius, which had opened its German commercial lithium-ion battery recycling facility.

However, the company’s latest gains might be more to do with its work in the vanadium sphere.

As The Motley Fool Australia’s Sebastian Bowen reported yesterday, the element has been the talk of the town on the ASX.

That might be drawing attention to the stock and potentially buoying its share price.

Argosy Minerals Limited (ASX: AGY)

The final ASX All Ords commodity share to be reaching new heights on Friday is Argosy Minerals.

The lithium miner’s stock surged 8.5% earlier today to trade at a new all-time high of 51 cents.

The gains followed news of the company’s Rincon Project – its lithium carbonate production operation.

67% of the development works at the project have now been completed and production is on track to begin in the middle of this year.

Motley Fool contributor Brooke Cooper 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 Record Highs

An older man in a cowboy hat makes a trade on his phone while leaning up against the horse stall.
Record Highs

Amid today’s sell-off, guess which ASX All Ordinaries share just hit an all-time high

This stock is defying today's downturn.

Read more »

A young kid with dark glasses rocks out with a guitar.
Share Gainers

3 ASX 300 shares rocking new 52-week highs on Thursday

Which three shares hit multi-year highs today? Let's take a look.

Read more »

Agricultural ASX share price on watch represented by farmer in field looking at tablet computer.
Record Highs

What’s driving the Graincorp share price to all-time highs?

2022 has so far been good to the agribusiness' stock.

Read more »

Three children wearing athletic short and singlets stand side by side on a running track wearing medals around their necks and standing with their hands on their hips.
Record Highs

Despite today’s sell-off, these 3 ASX 300 shares are topping all-time highs

These 3 standouts have set the pace today.

Read more »

An older man with white hair in an Elvis-style white suit rocking out.
Record Highs

3 ASX All Ordinaries shares rocking all-time highs today

These ASX All Ords shares had a day to remember today...

Read more »

Man with rocket wings which have flames coming out of them.
Resources Shares

Lithium boom: Allkem share price hits record high on Q3 update

Allkem shares are on fire again today...

Read more »

rising asx share price represented by rocket ascending increasing piles of coins
Resources Shares

Here’s why this ASX All Ordinaries mining share leapt 8% to a new all-time high today

Zimplats shares hit a new record high today. Could high palladium prices be responsible?

Read more »

Four people on the beach leap high into the air.
Consumer Staples & Discretionary Shares

The Endeavour share price has notched up 4 all-time highs in a week. What’s happening?

Endeavour shares have been on a roll lately. Let's dig into the gains!

Read more »