The S&P/ASX 200 Index (ASX: XJO) is on course to record another small gain. In afternoon trade, the benchmark index is up 0.3% to 8,281.6 points.
Four ASX shares that are rising more than most today are listed below. Here's why they are climbing:
Capricorn Metals Ltd (ASX: CMM)
The Capricorn Metals share price is up 2.5% to $6.53. This follows the release of the gold miner's quarterly update this morning. The company revealed that its Karlawinda Gold Project delivered another strong quarter of operations, producing 28,702 ounces of gold. This brings half year production to 54,261 ounces, which is ahead of target for the period. As a result, it means Capricorn Metals is "in a strong position to achieve the mid-point of FY25 guidance of 110,000 – 120,000 ounces." The company's all-in sustaining cost (AISC) is expected to be within the FY 2025 cost guidance range of $1,370 to $1,470 per ounce.
IDP Education Ltd (ASX: IEL)
The IDP Education share price is up 7% to $13.13. This appears to have been driven by a broker note out of Macquarie. According to the note, the broker has upgraded IDP Education's shares to an outperform rating with a $16.00 price target. And as I covered here before the market open this morning, IDP Education's shares could be classed as dirt cheap after falling heavily in 2024. Goldman Sachs has a buy rating and lofty $19.00 price target on them.
Life360 Inc (ASX: 360)
The Life360 Inc share price is up over 2.5% to $23.40. This follows a strong night of trade for US tech stocks on Wall Street on Monday. It isn't just Life360 that is rising today. The S&P/ASX All Technology Index is up 1.2% at the time of writing. Life360's shares are now up over 240% since this time last year.
Opthea Ltd (ASX: OPT)
The Opthea share price is up almost 6% to 78.2 cents. This morning, this clinical-stage biopharmaceutical company announced the publication of its Phase 1b trial of sozinibercept combination therapy in diabetic macular edema (DME) in the peer-reviewed journal Translational Vision Science & Technology (TVST). The CEO of Opthea, Frederic Guerard, said: "The DME trial results underpin sozinibercept's potential as a novel, first-in-class VEGF-C/D 'trap' to elevate the standard of care in retinal diseases including DME, by preventing blood vessel growth and vascular leakage in the retina and delivering improved visual and anatomic outcomes when combined with standard-of-care anti-VEGF-A therapies."
