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

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

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Key points

  • Three ASX 300 shares soared to multi-year highs today 
  • One of them -- Amcor CDI -- hit a new all-time high
  • The S&P/ASX 300 Index also closed in the green today, up 0.87%

The S&P/ASX 300 Index (ASX: XKO) may have enjoyed a day in the green, but three ASX 300 shares outperformed the index while recording multi-year highs.

The ASX 300 ended the day up 0.87% at 7,361.9 points. It was a similar story for the S&P/ASX 200 Index (ASX: XJO), which closed 0.82% higher at 7,364.7 points.

So which ASX 300 shares leapt to yearly highs today?

Coronado Global Resources Inc (ASX: CRN)

The Coronado Global Resources share price climbed 3.36% today to close at $2.46. However, in afternoon trade, it hit $2.48. This is the highest price for Coronado shares since August 2019.

A possible catalyst could be the price of coal, which soared 9% to US$355 per tonne in one day, Trading Economics data reveals. Coronado produces metallurgical coal from projects in Queensland and the United States.

Challenger Ltd (ASX: CGF)

The Challenger share price rose 3.09% today to end the day’s trading at $7.68. In afternoon trade, the investment management company’s share price reached $7.725. That is the highest this ASX 300 share has been since early March 2020.

Challenger managing director and CEO Nick Hamilton presented at the Macquarie Australia conference in Sydney today. Hamilton reflected on the success of the company’s diversification strategy. He said this strategy is driving significant momentum across the business. He highlighted the company’s Our Life business has achieved a 30% increase in sales to $7.6 billion.

Amcor CDI (ASX: AMC)

The Amcor share price surged 5.68% today to close at $17.69. In earlier trade, the company’s share price leapt 8% to $18.11 — an all-time high.

This ASX 300 share followed in the footsteps of its US listing. The Amcor PLC (NYSE: AMCR) share price surged 9.61% on the New York Stock Exchange on Wednesday.

Investors appeared to be responding positively to the company’s financial results. Net sales for the quarter soared 15.6% to $3,708 million. For the nine months ended March 31, sales surged 13% to $10,635 million. Adjusted earnings before interest and taxes (EBIT) jumped 6% in the quarter compared to the prior corresponding period.

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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 positions in and has recommended Amcor Limited. The Motley Fool Australia has recommended Challenger Limited and Macquarie Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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