Why De Grey, Lovisa, New Hope, and Patriot Battery Metals shares are rising today

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

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Man drawing an upward line on a bar graph symbolising a rising share price.

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It has been a reasonably volatile session for the S&P/ASX 200 Index (ASX: XJO) on Wednesday. In afternoon trade, the benchmark index is down slightly to 7,073.7 points.

Four ASX shares that are not letting that hold them back are listed below. Here's why they are rising:

De Grey Mining Limited (ASX: DEG)

The De Grey share price is up 3% to $1.29. This may have been driven by a broker note out of Bell Potter this morning. Its analysts have responded positively to a drilling update from the gold explorer's Hemi prospect. The broker has retained its buy rating and lifted its price target to $1.90.

Lovisa Holdings Ltd (ASX: LOV)

The Lovisa share price is up 2% to $18.64. Investors have been buying this fashion jewellery retailer's shares following the release of a trading update ahead of its annual general meeting. While like for like sales are down, Lovisa's overall sales are up strongly thanks to its global store rollout. The latter will soon include its first store in the massive China market.

New Hope Corporation Ltd (ASX: NHC)

The New Hope share price is up over 1% to $5.25. This morning, analysts at Citi took their sell rating off this coal miner's shares and upgraded them to a neutral rating with a $5.20 price target. The broker made the move following a solid quarterly update and due to recent share price weakness.

Patriot Battery Metals Inc (ASX: PMT)

The Patriot Battery Metals share price is up 9% to $1.15. This morning, this lithium explorer announced a new discovery at its Corvette Property in Canada. Management said: "Although no core assays have been received yet, the presence of spodumene and the length of pegmatite encountered in multiple holes, highlighted by an approximate 100 m near-continuous spodumene-bearing hit in the final hole of the program, are very positive in terms of potential of this pegmatite to hold significant scale."

Citigroup is an advertising partner of The Ascent, a Motley Fool company. Motley Fool contributor James Mickleboro has positions in Lovisa. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Lovisa. The Motley Fool Australia has recommended Lovisa. 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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