The S&P/ASX 200 Index (ASX: XJO) was on form again in August and charged higher
The benchmark index rose 2.6% over the month to end the period at 8,973.1 points.
While that was strong, a number of ASX 200 shares recorded significantly stronger gains during the month. Let's see why these were the best shares to own in August:
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Pilbara Minerals Ltd (ASX: PLS)
The Pilbara Minerals share price was the best performer on the ASX 200 in August with a gain of 52.2%. A rebound in lithium prices helped drive a number of lithium stocks higher during the month. In addition, investors responded positively to the release of the miner's FY 2025 results. Commenting on its results, Pilbara Minerals CEO, Dale Henderson, said: "FY25 marked a transformational year for PLS. While the lithium market experienced material pricing pressure, we maintained strong operational performance, completed a major phase of capital investment, and positioned the business for the next phase of growth."
Codan Ltd (ASX: CDA)
The Codan share price wasn't far behind with a gain of 47.4% last month. This was driven by the release of the metal detector manufacturer's FY 2025 results. Codan reported a 22% increase in revenue to $674.2 million and a 27% lift in net profit after tax to $103.5 million. This reflects strong organic growth, supplemented by the recently acquired Kagwerks business. In addition, the strong gold price seems to be supporting growth in metal detector sales.
Vault Minerals Ltd (ASX: VAU)
The Vault Minerals share price was a strong performer and rocketed 44.6% higher in August. The gold miner's shares raced higher following the release of its FY 2025 results. Vault posted a 131% jump in revenue to $1,432 million and a 221% increase in adjusted EBITDA to $619.4 million. In light of this strong performance, an on-market share buy-back was announced for up to 10% of shares on issue. It stated that this was "to allow for opportunistic share purchases during periods in which the share price does not reflect the strong cashflow generation and robust outlook for the business."
Eagers Automotive Ltd (ASX: APE)
The Eagers Automotive share price was on form and raced 41% higher during the period. This was driven by the release of the automotive retailer's half year results. Eagers Automotive revealed record half year revenue of $6.5 billion (up 18.9%) and record operating profit before tax of $197.7 million (up 8.3%). Commenting on its performance, the company's CEO, Keith Thornton, said: "Eagers' record first half revenue, including $1.0 billion in growth delivered in just six months, demonstrates our ability to leverage our scale, the quality of our OEM brand partnerships and our unique business units to drive growth and continue to outperform relative to the industry."
