Why Appen, Nufarm, Pro Medicus, and WA1 shares are rising today

These shares are having a good session on Tuesday. But why?

| More on:
Beautiful young woman drinking fresh orange juice in kitchen.

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

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is bouncing back from yesterday's selloff. At the time of writing, the benchmark index is up 0.4% to 8,414.4 points.

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

Appen Ltd (ASX: APX)

The Appen share price is up 9% to $2.79. This appears to have been driven by a broker note out of Ord Minnett this morning. According to the note, the broker has upgraded the artificial intelligence data services company's shares to a buy rating with an improved price target of $3.30. This follows the release of a quarterly update which the broker felt was unfairly punished by the market. Ord Minnett was pleased with the solid update and is positive on the company's growth prospects.

Nufarm Ltd (ASX: NUF)

The Nufarm share price is up 4% to $3.70. Investors have been buying this agricultural chemicals company's shares following the release of a trading update this morning. Nufarm revealed that it has "made a pleasing start to FY25." It notes that "[d}emand for crop protection products has been strong and, although active ingredient prices have not moved materially, we are seeing the benefits of stability in cost of goods on crop protection margins." In addition, the company revealed that it expects to achieve $100 million in omega-3 revenue in FY 2025, subject to market pricing. It has also identified $50 million of annualised cost savings. The full impact of these savings is expected to be realised in FY 2026.

Pro Medicus Limited (ASX: PME)

The Pro Medicus share price is up 4.5% to $282.06. This morning, this health imaging technology company announced yet another major contract win. Pro Medicus has signed a $53 million, seven-year deal with BayCare. It is the leading health care system in the Tampa Bay and central Florida regions of the United States. The contract will see its cloud-based Visage 7 Enterprise Imaging Platform, including Visage 7 Viewer and Visage 7 Workflow modules, implemented throughout BayCare. This will provide the health care system with a unified diagnostic imaging platform.

WA1 Resources Ltd (ASX: WA1)

The WA1 Resources share price is up 13% to $14.71. This follows the announcement of results from continued metallurgical testwork that is being undertaken on niobium concentrate from the Luni deposit at the 100% owned West Arunta Project in Western Australia. Management revealed that it achieved excellent results from the first conversion testwork completed on refined concentrate from Luni. It highlights that this demonstrates the final stage in a conventional process flowsheet and completes proof-of-concept testwork to produce ferroniobium.

Motley Fool contributor James Mickleboro has positions in Pro Medicus. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Appen. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has recommended Pro Medicus. The Motley Fool Australia has recommended Pro Medicus. 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

People sit in rollercoaster seats with expressions of fear, terror and exhilaration as it goes into a steep downward descent representing the Novonix share price in FY22
Share Gainers

Here are the top 10 ASX 200 shares today

ASX investors had a rough end to the trading week this Friday.

Read more »

Siblings jumping on a trampoline.
Share Gainers

These 3 ASX 200 stocks are charging higher this week. Own any?

Investors have been piling into these ASX 200 stocks this week. But why?

Read more »

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

Why Domino's, Nick Scali, REA, and Sigma shares are charging higher today

These shares are ending the week on a high. Let's see why investors are bidding them higher today.

Read more »

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

Why BWP, Magellan, News Corp, and Winsome shares are pushing higher today

These shares are having a better day than most on Thursday. But why?

Read more »

Three happy office workers cheer as they read about good financial news on a laptop.
Share Gainers

Here are the top 10 ASX 200 shares today

The ASX was back in form this hump day...

Read more »

A boy stands firm on a rocky cliff holding a rocket in each hand and looking up toward the sky, anticipating flying into space.
Resources Shares

Up 864% in a year, how this ASX mining stock is primed to keep rocketing in 2025

The ASX mining stock looks to be in a sweet spot amid export bans from China and Russia.

Read more »

Happy coal miner.
Energy Shares

Why are ASX coal shares having such a cracking run today?

The latest salvo in the new American tariff war is benefiting some ASX shares.

Read more »

Wife and husband with a laptop on a sofa over the moon at good news.
Share Gainers

Why BWP, Insignia, Nufarm, and Pinnacle shares are charging higher today

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

Read more »