The S&P/ASX 200 Index (ASX: XJO) is out of form again on Thursday. In afternoon trade, the benchmark index is down 0.25% to 8,902.7 points.
Four ASX shares that are not letting that hold them back are listed below. Here's why they are rising:
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Champion Iron Ltd (ASX: CIA)
The Champion Iron share price is up 10% to $5.44. Investors have been buying this iron ore miner's shares following the release of its quarterly update. Champion Iron reported production of 3.6Mt and record sales of 3.9Mt. This underpinned quarterly revenue of $493 million and EBITDA of $175 million. Champion's CEO, David Cataford, said: "We successfully capitalized on rising iron ore prices by delivering robust quarterly financial results, while completing our scheduled semi-annual maintenance at our site and on the third-party railway. I'm especially proud of our teams' commitment to operating Bloom Lake sustainably while optimizing operations and advancing the DRPF project towards its completion."
Coronado Global Resources Inc (ASX: CRN)
The Coronado Global Resources share price is up almost 15% to 33.2 cents. This has been driven by the release of the coal miner's third quarter update. Coronado reported growth across all key production and sales metrics during the three months. This includes a 21% increase in saleable production (its highest since 2021) and a 9% increase in sales volumes. The company's CEO, Douglas Thompson, said: "Following the record ROM production in June to end Q2, our operations continued the positive momentum and had another strong quarter. Q3 delivered material increases in all production and sales metrics. Saleable production was our highest since Q1 2021 and we again improved costs for another quarter."
Megaport Ltd (ASX: MP1)
The Megaport share price is up 3.5% to $16.26. This appears to have been driven by a broker note out of Macquarie. According to the note, the broker has reaffirmed its outperform rating on this network as a service provider's shares with an improved price target of $18.50. It said: "Top-line is stabilised, with new customer logo growth a strong positive signal. Reinvestment in growth will drive top-line acceleration out of FY26. Product roadmap suggests MP1 will move more into software with edge compute, driving higher long-term margins. Retain Outperform."
Mineral Resources Ltd (ASX: MIN)
The Mineral Resources share price is up 11.5% to $47.26. Investors have been buying the mining and mining services company's shares following the release of its first quarter update. Mineral Resources reported a solid performance across its businesses. As a result, it believes it is on track to meet FY 2026 volume and cost guidance across all divisions.
