Why Genesis Minerals, Lovisa, Northern Star, and SRG Global shares are rising today

These shares are rising more than most today. But why?

| More on:
A young male ASX investor raises his clenched fists in excitement because of rising ASX share prices today

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) has followed Wall Street's lead and is pushing higher on Thursday. In afternoon trade, the benchmark index is up a sizeable 0.75% to 7,826.9 points.

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

Genesis Minerals Ltd (ASX: GMD)

The Genesis Minerals share price is up 6% to $1.94. As well as getting a boost from a rising gold price, this gold explorer and development company was the subject of a positive broker note this morning. According to a note out of Ord Minnett, it has upgraded the company's shares to an accumulate rating (from hold) following a review of shares with exposure to gold and/or copper.

Lovisa Holdings Ltd (ASX: LOV)

The Lovisa share price is up over 2% to $31.17. This morning, analysts at Macquarie upgraded the fashion jewellery retailer's shares to an outperform rating with a $33.70 price target. The broker is very positive on the company's global expansion and believes that strong earnings growth is coming over the next five years. It also feels that the change of CEO will not derail Lovisa's sales and store growth. As a result, it thinks that the sharp pullback in the Lovisa share price this week has created a buying opportunity for investors.

Northern Star Resources Ltd (ASX: NST)

The Northern Star Resources share price is up 2.5% to $14.71. Investors have been buying Northern Star and other gold mining shares today. This has been driven by a strong rise in the gold price overnight after US bond yields softened amid hopes that interest rate cuts are coming. This has seen the S&P/ASX All Ordinaries Gold index rise 2.5% on Thursday. Not even a broker downgrade by Ord Minnett has been able to stop Northern Star rising today. It has downgraded its shares to a hold rating with a $15.60 price target.

SRG Global Ltd (ASX: SRG)

The SRG Global share price is up 2.5% to 89 cents. This has been driven by news that the diversified industrial services company has been awarded multiple contracts with existing clients in the renewable energy, resources and energy sectors across Australia. Management notes that the value of the new works secured is $125 million. SRG Global's managing director, David Macgeorge, said: "We are pleased to secure these diverse range of contracts across Australia through established relationships with Tier 1 clients across Australia."

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 and Srg Global. 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 girls compete in a race, running fast around an athletic track.
Share Gainers

Here's why ASX uranium shares like Deep Yellow are running hot today

ASX uranium stocks are on fire this Wednesday.

Read more »

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

Why Chrysos, Hansen Technologies, Pantoro, and WA1 Resources shares are pushing higher

These shares are having a good time on hump day. But why?

Read more »

piggy bank at end of winding road
Share Gainers

Here are the top 10 ASX 200 shares today

ASX investors enjoyed a lucrative Tuesday session today.

Read more »

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

Why Capitol Health, Infratil, Newmont, and Race Oncology shares are charging higher

These shares are having a good session. But why?

Read more »

Two happy excited friends in euphoria mood after winning in a bet with a smartphone in hand.
Share Gainers

Why Capitol Health, Capricorn Metals, Credit Clear, and Telix shares are storming higher

These shares are starting the week with a bang. But why?

Read more »

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 »