The S&P/ASX 200 Index (ASX: XJO) is on course to end the week deep in the red. In afternoon trade, the benchmark index is down 1.6% to 7,050.8 points.
Four ASX shares that have managed to avoid the selloff and push higher are listed below. Here's why they are rising:
Global Lithium Resources Ltd (ASX: GL1)
The Global Lithium share price is up 2% to $1.67. This is despite there being no news out of the lithium developer. However, it is worth noting that Shaw & Partners put out a bullish broker note in relation to the company last week. Its analysts have a buy rating and a $3.50 price target on its shares. This is double its current share price.
Latin Resources Ltd (ASX: LRS)
The Latin Resources share price is up 3% to 32.5 cents. Once again, this is despite there being no news out of the lithium developer. Though, late last month, the team at Bell Potter reiterated its speculative buy rating on the company's shares with an improved price target of 37 cents.
Regis Resources Ltd (ASX: RRL)
The Regis Resources share price is up 2% to $1.95. This morning, this gold miner reported record annual production for FY 2023. Gold production came in at 458,354 ounces, which was within its original FY 2023 production guidance range of 450,000 ounces to 500,000 ounces. Regis Resources ended the period with cash and bullion of $243 million.
Renascor Resources Ltd (ASX: RNU)
The Renascor Resources share price is up 2.5% to 19.5 cents. This follows an update on drilling activities at the Siviour Graphite Deposit. Renascor advised that its latest drilling confirms a major extension to the deposit. Assays are demonstrating the continuity of widespread, high-grade graphite over an area extending over 3 kilometres immediately north of the current mineral resource.
