Why Evolution, Latin Resources, Mayne Pharma, and Paladin Energy shares are pushing higher

These ASX shares are having a strong session. But why?

| More on:
Smiling couple looking at a phone at a bargain opportunity.

Image source: Getty Images

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 7,068.4 points.

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

Evolution Mining Ltd (ASX: EVN)

The Evolution Mining share price is up 2% to $3.53. Investors have been buying this gold miner's shares today after it released its quarterly activities report and an exploration update on its Mungari and Cowal operations. The former saw management maintain its FY 2024 guidance of 770,000 ounces of gold at an AISC of $1,370 per ounce.

Latin Resources Ltd (ASX: LRS)

The Latin Resources share price is up 3% to 27.4 cents. This follows the release of drilling results from the Salinas Lithium Project in Brazil. Management believes the results are pointing to the company sitting on top of a tier one deposit.

Mayne Pharma Group Ltd (ASX: MYX)

The Mayne Pharma share price is up 13% to $3.11. This has been driven by the release of the pharmaceutical company's quarterly update. Although Mayne Pharma posted a cash EBITDA loss of $1.7 million for the three months, this was a major improvement on the cash EBITDA loss of $19.5 million recorded in the previous quarter. This was underpinned by stronger sales and a major improvement in its gross margin.

Paladin Energy Ltd (ASX: PDN)

The Paladin Energy share price is up almost 3% to 95 cents. This morning, this uranium producer announced that it now holds a 100% interest in the Michelin advanced exploration project in Labrador, Canada. The Michelin Project is located in a premier mining jurisdiction with over US$75 million of in-ground exploration work previously undertaken.

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.

More on Share Gainers

Three exuberant runners dash towards the camera. One raises her arms in triumph; another jumps in the air with arms raised. The third runner gives a satisfied smile.
Share Gainers

3 ASX 200 shares going gangbusters in June

ASX 200 investors have sent these three stocks soaring in June. But why?

Read more »

A young male ASX investor raises his clenched fists in excitement because of rising ASX share prices today
Share Gainers

Why Boss Energy, Judo Capital, Life360, and Paladin Energy shares are pushing higher

These shares are ending the week on a high. But why?

Read more »

Fancy font saying top ten surrounded by gold leaf set against a dark background of glittering stars.
Share Gainers

Here are the top 10 ASX 200 shares today

Today's trading gave ASX investors some much-needed relief.

Read more »

Happy man working on his laptop.
Share Gainers

Why Bubs, Codan, Life360, and Sayona Mining shares are charging higher

These shares are catching the eye on Thursday. What's going on?

Read more »

a cute young girl with curly hair sips a glass of milk through a straw with a smile on her face.
Consumer Staples & Discretionary Shares

Guess which A2 Milk rival's shares just rocketed 21% on US news!

Up 65% in 2024, A2 Milk shares remain the better performer, but this rival is making up ground today.

Read more »

The silhouettes of ten people holding hands with their arms raised against the sky, as the sun rises or sets in the background.
Share Gainers

Here are the top 10 ASX 200 shares today

It was another horrid day for ASX investors this hump day.

Read more »

Cheerful boyfriend showing mobile phone to girlfriend in dining room. They are spending leisure time together at home and planning their financial future.
Share Gainers

7 ASX All Ords shares rocketing higher while the market sinks

These shares are avoiding the market weakness on Wednesday.

Read more »

A man sees some good news on his phone and gives a little cheer.
Share Gainers

Why Bapcor, Botanix, Judo Capital, and Woodside shares are rising today

These shares are having a better day than most on Wednesday.

Read more »