Why EML, Lake Resources, Lindsay, and Sayona Mining shares are racing higher

It has been a strong start to the week for these ASX shares.

| More on:

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a small gain. At the time of writing, the benchmark index is up 0.15% to 7,372.9 points.

Four ASX shares that are climbing more than most today are listed below. Here's why they are racing higher:

three businessmen high five each other outside an office building with graphic images of graphs and metrics superimposed on the shot.

Image source: Getty Images

EML Payments Ltd (ASX: EML)

The EML share price is up 16% to 66.5 cents. This morning, this struggling payments company announced the exit of its CEO and the scrapping of its previously announced strategy. Investors appear pleased with its temporary CEO, new strategy, and a strategic review that will look at selling parts or all of its businesses.

Lake Resources N.L. (ASX: LKE)

The Lake Resources share price has jumped over 18% to 54.5 cents. This follows the announcement of another major milestone at the lithium developer's Kachi project in Argentina. The company revealed that it produced 2,500 kilograms of lithium carbonate equivalents through its ion exchange technology.

Lindsay Australia Ltd (ASX: LAU)

The Lindsay Australia share price is up 19% to $1.25. This morning, this logistics company made a big upgrade to its earnings guidance for FY 2023. It now expects underlying EBITDA of $85 million to $90 million, compared to previous guidance of $68 million to $71 million.

Sayona Mining Ltd (ASX: SYA)

The Sayona Mining share price is up 11% to 21.7 cents. This has been driven by the lithium miner announcing a major increase to the mineral resource estimate of its Canadian operation. Management estimates that the Moblan Lithium Project represents one of North America's single largest lithium resources.

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 positions in and has recommended EML Payments and Lindsay Australia. The Motley Fool Australia has positions in and has recommended EML Payments. The Motley Fool Australia has recommended Lindsay Australia. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Share Gainers

Girl with painted hands.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a relief rally for ASX investors this Thursday.

Read more »

A woman's hand draws a stylised 'Top Ten' on a projected surface.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a rather unhappy hump day for the markets.

Read more »

Man and woman sitting at table with the man looking a bit puzzled at his laptop.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a wild but ultimately unsuccessful Tuesday for ASX investors.

Read more »

Three children wearing athletic short and singlets stand side by side on a running track wearing medals around their necks and standing with their hands on their hips.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a sour start to the trading week today.

Read more »

Man and woman sitting at table with the man looking a bit puzzled at his laptop.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a tough end to a rough week for investors.

Read more »

A girl sits on her bed in her room while using laptop and listening to headphones.
Share Gainers

Here are the top 10 ASX 200 shares today

It was another rough ride for investors this Thursday.

Read more »

Five young people sit in a row having fun and interacting with their mobile phones.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a Wednesday that left investors wanting today.

Read more »

Girl with painted hands.
Share Gainers

Here are the top 10 ASX 200 shares today

The ASX was back to the races this Tuesday.

Read more »