3 ASX 300 shares smashing new multi-year highs on Wednesday

It’s a good day to own these ASX 300 shares…

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Wednesday has shaped up to be a good day on the market, and these S&P/ASX 300 Index (ASX: XKO) shares are revelling in the green.

In fact, they’ve each jumped to new multi-year record highs today.

Right now, the ASX 300’s performance is beating that of its more renowned peer, the S&P/ASX 200 Index (ASX: XJO). The former has gained 0.25% while the latter is recording a 0.19% increase.

So, which of the ASX 300’s constituents are pushing it higher today? Let’s take a look.

3 ASX 300 shares trading at long-forgotten heights today

Ampol Ltd (ASX: ALD)

The Ampol share price hit a new post-pandemic high on Wednesday, surging 3.5% to trade at $32.80.

There’s been no news to explain the ASX 300 fuel and convenience retailer’s gains today. Though, it did release an exciting update regarding an acquisition yesterday.

Then, the company announced its takeover of Z Energy Ltd (ASX: ZEL) has been given the green light from New Zealand’s Overseas Investment Office.

It follows from the New Zealand Commerce Commission’s approval of the sale of Ampol’s Gull business, handed down last week.

Iluka Resources Limited (ASX: ILU)

The Iluka Resources share price is also in the green today. The ASX 300 resource explorer’s share price reached a new all-time high of $12.83 in early morning trade, representing a 3.2% gain.

The increase followed news the company intends to spin off its Sierra Rutile business.

If the demerger is successful, the newly-listed Sierra Rutile will focus on mineral sands projects in West Africa.

Capricorn Metals Ltd (ASX: CMM)

Finally, the Capricorn Metals share price is hitting another all-time high on Wednesday. It leapt 1.3% to reach a new record of $4.45.

While there’s been no news from the gold producer this week, it did announce encouraging early assay results on Friday.

Additionally, the price of gold has been gaining lately, likely bolstering sentiment in the ASX 300 gold stock’s share price.

However, the gold spot price has slipped into the red on Wednesday, trading 0.3% lower at US$1,969.20 per ounce, according to data from CNBC.

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.

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