With only a few hours before Friday's closing bell, the S&P/ASX 200 Index (ASX: XJO) is up 1.4% for the week, with these five fast-rising ASX 200 stocks doing a lot of the heavy lifting.
Which big weekly gainers am I talking about?
Read on!
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What's sending these ASX 200 stocks flying higher?
The first fast-rising ASX 200 stock is Corporate Travel Management Ltd (ASX: CTD).
Shares in the travel management company closed last Friday at $11.68. At the time of writing, shares are changing hands for $13.17 apiece. That sees the Corporate Travel share price up 12.8% over the week.
While there was no price-sensitive news out from the company, the stock may have gotten a boost from a note out from Morgans. The broker retained its add rating with a price target of $16.05 for Corporate Travel shares.
Moving on to the second ASX 200 stock racing higher this week, we have Graincorp Ltd (ASX: GNC).
Shares in the agribusiness and processing company closed last week at $6.98 and are currently trading for $7.80 each. That puts the Graincorp share price up 11.8% over the week.
The stock closed up 8.8% on Thursday following the release of its half-year results.
Highlights from the six months to 31 March included a 23% year-on-year increase in underlying earnings before interest, taxes, depreciation and amortisation (EBITDA) to $202 million. And net profit after tax (NPAT) of $58 million was up 16%.
Which brings us to the third ASX 200 stock smashing the benchmark returns this week, Pilbara Minerals Ltd (ASX: PLS).
Shares in the lithium miner closed last week at $1.47 and are currently trading for $1.61. This sees the Pilbara Minerals share price up 9.0% over the week.
The stock appears to have caught some headwinds earlier in the week after Macquarie Group Ltd (ASX: MQG) named Pilbara as one of its top lithium stocks, with a target price of $2.40 a share.
Also racing higher this week
The fourth ASX 200 stock that's shooting the lights out this week is Zip Co Ltd (ASX: ZIP).
Zip shares closed last week at $1.87. At the time of writing, shares are changing hands for $2.06 apiece. That puts shares in the buy now, pay later (BNPL) stock up 10.2% over the week.
Zip also looks to have benefited from some positive broker coverage. Last Thursday, Goldman Sachs initiated coverage on Zip with a buy rating and $2.50 price target.
Which brings us to the fastest-rising ASX 200 stock of the week on our list, Mineral Resources Ltd (ASX: MIN).
Shares in the lithium miner and diversified resources producer closed last Friday at $21.06. In afternoon trade today, shares are changing hands for $26.60 apiece. This brings the Mineral Resources share price up a blistering 26.3% over the week.
There was no price-sensitive news out from the miner this week. But Mineral Resources shares look to have caught some strong tailwinds after the US-China tariff agreement boosted the broader medium-term outlook for the resources sector.
