But 2018 could prove more fruitful, particularly for these companies which are already off to flying starts.

Highfield Resources Ltd (ASX: HFR)

The Highfield Resources Ltd share price was up by more than 10 per cent on Wednesday as the company continues to recover from a rocky 2017.

The Highfield Resources share price slumped to 88 cents in late November but has since been moving up, gaining more than 25 per cent to trade at its current price of $1.11.

Highfield Resources, a Spanish potash developer with a market cap $365 million, endured a turbulent 2017 as its share price started the year at around $1.33 before dropping to a low 76 cents.

But 2018 has seen the company's stock off to a strong start.

Highfield Resources reported a net loss for financial year (FY) 2017 exceeding $7 million, an improvement on FY 2016's loss of about $10.4 million.

Boart Longyear Ltd. (ASX: BLY)

2017 certainly was a long year for Boart's shareholders who watched the company's share price drop by almost 90 per cent.

But 2018 is looking better for the Boart share price, having gained about 9 per cent on Wednesday.

Boart, a leading supplier of drilling services, equipment and tooling for mining and drilling companies, with a market value of $315 million, may turn things around this year.

In the quarter ended 30 September 2017, Boart reported revenue of $70 million, 14 per cent up on the prior corresponding period.

Altura Mining Ltd (ASX: AJM)

The Altura Mining Ltd share price notched up another 6.7 per cent on Wednesday, adding to gains over the past year of more than 250 per cent.

Altura Mining is hopeful that its flagship project at Pilgangoora, in Western Australia's north, will establish the company as a significant player in the lithium sector.

Altura wasn't the only lithium company to enjoy gains on Wednesday.

Galaxy Resources Limited (ASX: GXY), Kidman Resources Ltd (ASX: KDR), Pilbara Minerals Ltd (ASX: PLS) and Mineral Resources Limited (ASX: MIN) all saw their share prices edge higher.

The post These 3 shares are charging higher into 2018 appeared first on The Motley Fool Australia.

Here's why these stocks moved.

Highfield Resources Ltd (ASX: HFR) soared 26% to close at 63 cents, after the potash explorer upgraded its resource estimate for its Javier project in Northern Spain. The project is 100% owned by the company, and is less than 40km from two former operating mines.

LBT Innovations Limited (ASX: LBT) climbed 18.9% to finish at 22 cents. The company designs automated diagnostic solutions in healthcare and recently announced that it expected to see recurring revenues from its Previ®Isola and APAS® products. LBT Innovations expects to see significant milestone payments and licence fees as well as recurring royalties to 2028.

SFG Australia (ASX: SFW) gained 18.5% to end at 86.5 cents, after receiving a 90 cent takeover offer from fellow financial services firm IOOF Holdings. Consolidation in the sector has been rife in recent times, as companies look to reduce costs by increasing in scale.

Armour Energy Ltd (ASX: AJQ) added 16.7% to 17.5 cents. While no news was released today to explain the share price move, a broker report in March this year valued the shares at 59 cents each. The company owns a 100% interest in one of the largest shale gas acreage positions in Australia according to the report.

While some of these companies are high risk small caps, if they can capitalise on their potential, they could be worth much more in the years ahead, despite today's price gains. Having said that, very few small speculative stocks manage to do that, and investors may want to consider three oil and gas companies that are already producing and have plenty of potential.

The post 4 stocks that soared more than 16% today appeared first on The Motley Fool Australia.