The S&P/ASX 200 Index (ASX: XJO) is out of form on Wednesday. In afternoon trade, the benchmark index is down 0.3% to 7,117.9 points.
Four ASX shares that aren't letting that hold them back today are listed below. Here's why they are charging higher:
Arafura Rare Earths Ltd (ASX: ARU)
The Arafura share price has jumped 14% to 40 cents. This appears to have been driven by an announcement yesterday afternoon. That announcement revealed that the Mining Management Plan (MMP) for its 100% owned Nolans Neodymium-Praseodymium (NdPr) project has been approved by the Northern Territory Government.
Nufarm Ltd (ASX: NUF)
The Nufarm share price is up 7% to $5.80. Investors have been buying this agricultural chemicals company's shares following the release of its full year results. Nufarm reported a 24% increase in EBITDA to $447 million on revenue of $3.8 billion. The company also spoke positively about FY 2023 and revealed that it is on track to meet or exceed its FY 2026 revenue aspirations.
Pilbara Minerals Ltd (ASX: PLS)
The Pilbara Minerals share price is up 2.5% to $4.95. This morning this lithium miner unveiled its capital management framework. Pilbara Minerals advised that from FY 2023, it intends to pay out 20% to 30% of its free cash flow as dividends.
Whitehaven Coal Ltd (ASX: WHC)
The Whitehaven Coal share price is up 7% to $8.80. This follows a strong rise by the Nymex coal price overnight. In other news, this morning the company revealed that one of its directors has just bought ~$1.2 million worth of shares via an on-market purchase. Whitehaven Coal's non-executive director, Raymond Zage, picked up 150,000 shares for an average of $8.24 per share.
