The S&P/ASX 200 Index (ASX: XJO) is back in form on Thursday. In afternoon trade, the benchmark index is up 0.5% to 7,503.5 points.
Four ASX shares that are rising more than most today are listed below. Here's why they are climbing:
AVITA Medical Inc (ASX: AVH)
The AVITA Medical share price is up 12% to $4.54. This follows the release of a quarterly update this morning from the regenerative medicine company. Avita revealed that commercial revenue for the fourth quarter of 2023 is expected to be approximately US$14.1 million. This is an increase of approximately 50% compared to the same period in 2022.
Core Lithium Ltd (ASX: CXO)
The Core Lithium share price is up 6.5% to 20.25 cents. This is despite there being no news out of the struggling lithium miner. However, with its shares down heavily this month, some investors may believe they have been oversold. In addition, it is possible that short sellers could be buying back shares to close their positions and lock in their big returns.
Silex Systems Ltd (ASX: SLX)
The Silex Systems share price is up 5% to $4.84. Investors have been buying the uranium enrichment technology company's shares this week due to a major development in the United States. Yesterday, the company revealed that the U.S. Department of Energy has released a request for proposal for the acquisition of High Assay Low Enriched Uranium (HALEU). Investors appear optimistic that Silex could be a big winner from this.
South32 Ltd (ASX: S32)
The South32 share price is up 3% to $3.48. This appears to have been driven by a broker note out of Goldman Sachs this morning. According to the note, the broker has upgraded this mining giant's shares to a buy rating with a $3.80 price target. Goldman said: "GS bullish copper, aluminium, zinc and met coal (~65% of S32 NTM EBITDA): leading to improving FCF in FY25 (yield of ~10%) and forecast strong recovery in S32's EBITDA (+50%) in FY25."
