Why Baby Bunting, Bellevue Gold, Cettire, and New Hope shares are rising today

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

| More on:
A young women pumps her fists in excitement after seeing some good news on her laptop.

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

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 slightly to 7,680.3 points.

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

Baby Bunting Group Ltd (ASX: BBN)

The Baby Bunting share price is up 12% to $2.03. This follows the release of a broker note out of Morgan Stanley this morning. According to the note, the broker has upgraded the baby products retailer's shares to an overweight rating and lifted the price target on them to $2.20 (from $1.65). Morgan Stanley believes that its shares are deserving of a re-rating due to its improving outlook. The broker also expects a 3% dividend yield in FY 2024 and a 4.5% yield in FY 2025.

Bellevue Gold Ltd (ASX: BGL)

The Bellevue Gold share price is up 5.5% to $1.81. This morning, the gold developer revealed that recent infill drilling at Deacon Main has delineated a major high-grade ore shoot in the near-mine schedule. Bellevue Gold's managing director, Darren Stralow, was pleased with the drilling. He said: "These results replicate what the Bellevue Mine was historically known for: very high-grade gold contained in short strike structures. With infill results significantly out-performing the Resource estimate in the area, this high-grade ore will supplement the early mine plan and ensure that we continue to see strong grade and solid production results as we ramp up to full-scale production."

Cettire Ltd (ASX: CTT)

The Cettire share price is up 3% to $4.28. This follows news that the online luxury products retailer has responded to recent media and customer criticism by making changes to its website. In the USA and Australia, its checkout flow has been updated so that customers see all-inclusive pricing at the checkout. And to simplify the overall customer experience, estimated duties will no longer be itemised. Cettire has also decided to update its returns policy for USA customers. It will now charge  a US$25 return fee and a processing fee of US$50 per returned item applicable to orders greater than US$800.

New Hope Corporation Ltd (ASX: NHC)

The New Hope share price is up 3% to $4.57. This follows the release of the coal miner's half-year results on Tuesday. Due to significantly weaker coal prices, for the six months ended 31 January, New Hope reported a 45.9% decline in revenue to $856.6 million and a 59% reduction in EBITDA to $424.8 million. This led to the miner cutting its interim dividend by 57% to 17 cents per share. But as weak as this looks on paper, it appears to have been slightly better than the market was expecting.

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 recommended Cettire. 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

Top ten gold trophy.
Share Gainers

Here are the top 10 ASX 200 shares today

ASX investors endured a sour end to the trading week today.

Read more »

A young woman holding her phone smiles broadly and looks excited, after receiving good news.
Share Gainers

Why Boral, FBR, Origin, and Regis Resources shares are pushing higher today

These ASX shares are ending the week positively. But why?

Read more »

A woman is excited as she reads the latest rumour on her phone.
Share Gainers

Why Computershare, Core Lithium, Northern Star, and Vulcan Energy shares are storming higher

These ASX shares are avoiding the market weakness. But why?

Read more »

Two happy excited friends in euphoria mood after winning in a bet with a smartphone in hand.
Materials Shares

How has the Liontown share price rocketed 15% in a week?

There's one factor that might explain Liontown's explosive performance of late.

Read more »

a young woman raises her hands in joyful celebration as she sits at her computer in a home environment.
Share Gainers

Why EOS, Novonix, St Barbara, and Whitehaven Coal shares are storming higher

These ASX shares are having strong sessions. But why?

Read more »

A man sits thoughtfully on the couch with a laptop on his lap.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a strong showing from ASX shares this Tuesday.

Read more »

two people celebrating good news, stock rise, price increase, positive announcement
Share Gainers

Why Ansell, Elders, Predictive Discovery, and Rio Tinto shares are storming higher

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

Read more »

Ten smiling business people wave to the camera after receiving some winning company news.
Share Gainers

Here are the top 10 ASX 200 shares today

The ASX's trading week was off to an encouraging start this Monday.

Read more »