In retreat in early trade today, the S&P/ASX 200 Index (ASX: XJO) is up a slender 0.2% in this first trading week of December, but we can't blame these three rocketing ASX 200 shares for the benchmark's lacklustre performance.
As of yesterday's market close, the top two performers are both gold miners, with a financial company coming in at number three.
Which high-flying stocks are we talking about?
I'm glad you asked!
This week's three fast-rising ASX 200 shares
The first outperforming ASX 200 share of the week is fund manager Magellan Financial Group Ltd (ASX: MFG).
Magellan shares closed last Friday at $10.93. At the closing bell on Thursday, shares were trading hands for $11.95 apiece, up 9.3%.
With some possible profit-taking going on today, shares were down 3.2% on Friday at $11.56. The Magellan share price is up 6.8% since last Friday's close.
Magellan shares also trade on a partly franked trailing dividend yield of 5.6%.
The ASX 200 share trended higher for most of the week and gained 4.6% on Thursday following the release of its funds under management update. Investors reacted positively to Magellan increasing funds under management from $38.0 billion on 31 October to $39.1 billion on 30 November.
Moving on to the second ASX 200 share racing ahead of the benchmark this week, we have gold miner Gold Road Resources Ltd (ASX: GOR).
The Gold Road share price ended last week at $1.865. Shares are up 1.5% in intraday trade today, swapping hands for $2.10 apiece, bringing the price up 12.6% so far this week.
Gold Road shares also trade on a 0.7% fully franked trailing dividend yield.
We can rule out the gold price as the reason the miner outperformed. The yellow metal has dipped 0.5% since last Friday to trade for US$2,632 per ounce today.
Gold Road's strong gains this week involve our third fast-rising ASX 200 share, De Grey Mining Ltd (ASX: DEG).
You see, Gold Road owns approximately 17% of the outstanding shares in De Grey Mining. And the De Grey Mining share price has soared from $1.52 last Friday to $1.91 today, up 25.7%.
The gold miner's stock surged by 29.6% on Monday after news broke that Northern Star Resources Ltd (ASX: NST) had inked an agreement to acquire De Grey Mining for the tidy sum of $5 billion via a court-approved scheme of arrangement.
Commenting on the acquisition of the ASX 200 share, Northern Star's CEO Stuart Tonkin said, "The acquisition of De Grey is strongly aligned with Northern Star's strategy and contributes to our purpose of generating superior returns for shareholders."
The Northern Star share price is down 6.2% over the week.
