The All Ordinaries Index (ASX: XAO) has struggled this year – tumbling 6% year to date – but not all shares on the index have suffered.
In fact, these three have gained more than 130% in 2022 so far. Let’s take a look at what’s been driving them higher.
3 ASX All Ordinaries shares boasting massive 2022 gains
Yancoal Australia Ltd (ASX: YAL)
All Ordinaries coal producer Yancoal has seen its share price lift a whopping 134.6% so far this year. As of Wednesday’s close, it was trading at $6.10.
Surging energy prices following Russia’s invasion of Ukraine have likely been behind much of its gains. Though, recent talk of a potential takeover offer from Yankuang Energy might have also spurred interest.
Yankuang Energy is a Chinese state-owned entity and Yancoal’s controlling shareholder. Yesterday, the market heard its response to news the ASX-listed company wouldn’t support its takeover bid.
Yankuang said the bid – which is still hypothetical at this stage – would provide “a reasonable opportunity for those Yancoal shareholders who wish to exit but are not able to do so at current market prices”.
Stanmore Resources Ltd (ASX: SMR)
The share price of Yancoal’s fellow All Ordinaries coal producer Stanmore Resources has also taken off this year. It’s currently trading at $2.75 – 190.1% higher than it was at the start of 2022.
The company has also likely had tailwinds due to the price of coal in 2022.
Grange Resources Limited (ASX: GRR)
Finally, the Grange Resources share price has lifted a whopping 133.8% this year so far. It closed yesterday’s session at $1.77.
The All Ordinaries share mines iron ore and produces iron ore pellets in Tasmania. It also owns a 70% stake in a magnetite project in Western Australia.
The company has benefited from strong iron ore prices this year, allowing it to declare a 10-cent per share fully franked final dividend in April. That’s its highest routine dividend ever and equal to a 10-cent special dividend it paid out late last year.