3 ASX 300 shares that turned $5,000 into $59,000 or much more in 5 years

While 10-bagger stocks on the ASX are elusive, they do exist. And they make some investors rich.

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S&P/ASX 300 Index (ASX: XKO) shares have returned an average of 18.8% over the past five years.

Of course, some stocks have exceeded those gains while others have lost value over this time.

Below, we look at three ASX 300 shares that would have turned a $5,000 investment into $59,000, or much more, in just five years.

Can I borrow the keys to the time machine please?

The first ASX 300 share that's had an absolutely stellar run over the five years is Silex Systems Ltd (ASX: SLX).

The tech company is primarily focused on developing its unique SILEX laser uranium enrichment technology as the next-generation technology for the global uranium enrichment industry.

With some major successes along the way, the Silex share price has gained 1,080% over the past five years. That would have seen my $5,000 investment grow into a whopping $59,000 today.

At the current share price, Silex Systems has a market cap of $805 million.

But that's not even the biggest gainer among ASX 300 shares.

Another stock I'd snap up five years ago if I had access to a functioning time machine is Telix Pharmaceuticals Ltd (ASX: TLX).

The commercial-stage biopharmaceutical company is focused on developing diagnostic and therapeutic products to treat cancerous or diseased cells using targeted radiation.

With its own list of successful milestones over the past five years, the Telix share price has soared 1,425%. Meaning if you'd invested $5,000 in the stock in May 2018, you'd now be sitting on $76,250.

At the current share price, Telix Pharmaceuticals has a market cap of $3.5 billion.

Which brings is to…

The ASX 300 share shooting for the sky

If the Telix share price gain still doesn't quite do it for you, stay in the past for just a moment longer and turn your attention to Liontown Resources Ltd (ASX: LTR).

Perhaps the best-known name on this list of top share gainers, Liontown is a mineral exploration and development company. In recent years, its primary focus has been developing high-quality lithium and tantalum projects in Western Australia.

Atop the miner's exploration successes, the Liontown share price has enjoyed some gale force tailwinds amid rocketing lithium prices over the past few years. Prices for the battery-critical metal reached all-time highs late in 2022.

The ASX 300 share received another big boost this March after it received, and rejected, a takeover offer from NYSE-listed lithium giant Albemarle.

That's helped propel the Liontown share price to an eye-popping gain of 9,500% in five years.

(Aren't you glad you lingered in the past for another moment?)

That would see a $5,000 investment grow into a life-changing $480,000.

At the current share price, Liontown Resources has a market cap of $6.3 billion.

Motley Fool contributor Bernd Struben 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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