The S&P/ASX 200 Index (ASX: XJO) is having another solid session on Thursday. In afternoon trade, the benchmark index is up 0.65% to 7,973 points.
Four ASX shares that are rising more than most today are listed below. Here's why they are storming higher:
Image source: Getty Images
Liontown Resources Ltd (ASX: LTR)
The Liontown Resources share price is up 2% to 57 cents. This follows the release of the lithium miner's quarterly update. Liontown reported production of 95,709 dry metric tonnes (dmt) of spodumene concentrate (up 12%) and the sale of 93,940 dmt across five shipments (up 15%). This led to Liontown's revenue increasing 17% to A$104 million for the period. And with its unit costs down 18% to A$816 (US$512) per tonne, Liontown recorded positive cash flow of A$14 million for the three months.
Newmont Corporation (ASX: NEM)
The Newmont share price is up 3% to $85.02. This follows a rebound in the gold sector and the release of the gold miner's quarterly update. In respect to the latter, Newmont's adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) fell 14% to US$2.6 billion. However, its underlying EBITDA increased by US$307 million thanks to higher net income.
Paladin Energy Ltd (ASX: PDN)
The Paladin Energy share price is up a further 11% to $5.50. Investors have been buying the company's shares this week after it reported the highest level of quarterly uranium production at its Langer Heinrich Mine (LHM) since its restart. It produced 745,484lb U3O8 over the three months, which is up 17% quarter on quarter. This was despite the "one-in-fifty-year rainfall event" that impacted its operations in March. In response to the update, the team at UBS has retained its buy rating and $9.10 price target on the uranium miner's shares.
ResMed Inc. (ASX: RMD)
The ResMed share price is up 7% to $35.63. This has been driven by the release of the sleep disorder treatment company's quarterly update. ResMed reported an 8% increase in revenue to US$1.3 billion. This reflects increased demand for its sleep devices and masks portfolio, as well as solid growth across its Residential Care Software business. In respect to earnings, the company's income from operations increased by 14% to US$426.3 million and its non-GAAP net income rose 11% to US$348.5 million. ResMed's CEO, Mick Farrell, said: "Our positive fiscal year 2025 performance continued in the third quarter, with strong top-line revenue growth, margin expansion, and double-digit EPS growth resulting from solid customer demand for our best-in-class products and software solutions."
