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Monday Movers – Top 10 ASX Companies Today



10 ASX Companies That Performed On Top Today - 18 May 2020

The S&P/ASX 200 rallied 1.1 percent to continue is upward trend two trading days in-a-row mostly attributed by recovery in iron ore and gold sector.

Rio Tinto (ASX:RIO) and Fortescue Metals Group (ASX:FMG) both firmed 5.8 precent while BHP Group (ASX:BHP) closed 4.5 percent higher as iron ore surged above USD 90 per tonne.

Gold price hit a new high (not since 2013) at USD 1,734.85 per ounce amidst escalating US-China tensions which benefitted the precious metal miners.

Saracen Mineral (ASX:SAR) broke double-digit gains to close 11.3 percent after the bell to hit record-high; Newcrest Mining (ASX:NCM) gained 6.7 percent while Evolution Mining (ASX:EVN) rose 5.9 percent.

Agribusiness giant Elders (ASX:ELD) finished the trading day 9.9 percent high after the company announced better than expected first-half profits, to close at a 10-year high mark.

Top 10 Performing ASX Companies Today

Atrum Coal Ltd (ASX:ATU)
In April, Atrum Coal’s announced it would be raising AUD 22 million to help accelerate its Elan Hard Coking Coal Project in Alberta, Canada, which would be used mainly towards pre-feasibility study activities and expected to be completed by the middle of 2021. Just last week (12 May), Atrum Coal appointed a mining veteran, Andrew Caruso, as the company’s new CEO, replacing the outgoing Managing Director and CEO, Max Wang. Andrew spent 30 years in the mining sector with 9 of those years being Managing Director of other iron ore and coal companies.

Calidus Resources Ltd (ASX:CAI)
Following a record seven-year high for Gold prices, Calidus’ stock price skyrocket 25% as this precious metal sector continues to break new highs since late March 2020. Last year, Calidus reported a total shareholder return of 15% as most of the gains were attributed during the first quarter of 2019 when the stock rose 15%. Calidus Resources (ASX:CAI) is an ASX listed gold exploration and development company which controls the 1.25 million ounce Warrawoona Gold Project located in the East Pilbara district of the Pilbara Goldfield in Western Australia.

Agrimin Ltd (ASX:AMN)
Agrimin surged 23% today after the Australian Government approved major project status for Agrimin’s (AMN) Mackay Potash Project in Western Australia – i.e the project can now receive additional government support. This approval lasts for three years which should be sufficient time to advance the project through approvals, project funding, and construction.

Hastings Technology Metals Ltd (ASX:HAS)
Hastings share price hike comes after positive quarterly activities report released on 29 April. Hastings is an exploration and development company that is currently concentrating its efforts on its two rare earths projects in Western Australia – Yangibana Project and Brockman Project. Hastings is positioned to become a leading Australian rare earths company supplying the growing rare earths permanent magnet sector that serves both consumer and industrial technologies from flat-screen TVs to military hardware.

Village Roadshow Ltd (ASX:VRL)
VRL  share price climbed 20.68% provided details on the impact of COVID-19 on its operations, liquidity and funding position. Furthermore, the company announced a revised takeover proposal from PE firm, BGH Capital, to acquire all of its shares by way of a scheme of arrangement. This comes after revised its bid to $2.40 per share or a near 36% premium of last Friday’s end of day price of $1.765. The revised offer consists of a base offer of $2.20 per share plus an additional $0.20 per share subject to Movie World, Sea World, and Village’s cinema various locations to being re-opened after months of lockdown across the country.

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