2 ASX All Ords shares smashing new 52-week highs today

These All Ords shares are hitting new highs on Tuesday…

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The All Ordinaries index may be struggling on Tuesday, but that hasn't stopped a couple of shares from racing higher.

In fact, these All Ords shares have managed to climb to 52-week highs or better today. Here's what you need to know:

Dalrymple Bay Infrastructure Ltd (ASX: DBI)

The Dalrymple Bay Infrastructure share price jumped to a 52-week high of $2.39 on Tuesday.

Investors were buying the coal export terminal operator's shares after it released an update on pricing and commercial terms for all existing customers for a ten-year term.

According to the release, in the near term, Dalrymple Bay Infrastructure will receive a terminal infrastructure charge of $3.02 per tonne in 2021-22 and $3.18 per tonne in 2022-23. This represents a 23% and 29% increase, respectively.

Looking ahead, the terminal infrastructure charge will be escalated annually for inflation, with the new pricing and commercial terms applying from 1 July 2021 to 30 June 2031 under revised agreements with each existing user.

In light of this, the company has lifted its distribution guidance to 20.1 cents per share for the 12 months ending 30 June 2023. After which, it will target 3% to 7% growth per annum for the foreseeable future. This is up from its previous target of 1% to 2% growth.

IGO Ltd (ASX: IGO)

The IGO share price actually went one better and climbed to a new all-time high of $15.68 on Tuesday. This means the battery materials miner's shares have now risen approximately 32% in 2022.

Today's gain was achieved despite there being no news out of the company and the All Ords dropping into the red. Though, it is worth noting that a number of battery materials shares pushed higher today along with the IGO share price.

The good news for investors is that it may not be too late to join the IGO party. Last month, Macquarie put an outperform rating and $21.00 price target on the company's shares.

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 Scott Phillips.

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