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10 ASX Companies That Performed On Top Today - 29 May 2020

The S&P/ASX200 Index was up five week-in-a-row to close at 4.7 percent higher despite falling 1.6 percent today. This is also the best back-to-back monthly advance since July 2019.

The big four Banking blue chips slid across the board on Friday despite performing decently for the week as Westpac (ASX:WBC) fell 6 percent, National Australia Bank (ASX:NAB) conceded 5.2 percent, ANZ (ASX:ANZ) and Commonwealth Bank (ASX:CBA) both lost 4.5 percent and 3 percent respectively.

Mining sector performed generally well today especially those in the Gold industry — Northern Star (ASX:NST) surged 7.6 percent, Evolution Mining (ASX:EVN) firmed 4.3 percent and Newcrets (ASX:NCM) gained 2.6 percent.

Biopharmaceutical giant CSL (ASX:CSL) retreated 3.9 percent on Friday making it the fourth worst performer on the Index for May with a month-to-date drop of 10.7 percent.

Top 10 Performing ASX Companies Today With Market Cap Above AUD 50M

Motorcycle Holdings Ltd (ASX:MTO)
MTO took the top spot today to close 23.6 percent higher. It was also in the top 3 spot last Friday when it gained 18.6 percent on its road to recovery ever since the turnaround in share price since 25 March. As quoted from MTO’s website: “MotorCycle Holdings is Australia’s leading motorcycle dealership and accessories group with 48 franchises operated from 31 dealership and 8 retail accessory locations in Queensland, New South Wales, Victoria and the Australian Capital Territory. MotorCycle Holdings’ core business consists of the ownership and operation of motorcycle dealerships and retail accessories outlets engaging in the sale of new motorcycles, used motorcycles, accessories and parts, finance, insurance and warranty as well as service and repair. MotorCycle Holdings also owns and operates a rider training school and a motorcycle repair business which performs smash repair work for insurers. In October 2017 the Group acquired of Cassons Pty Ltd and now also operates a motorcycle accessories wholesaling business. The Company represents a diverse portfolio of brands. In the new motorcycle category MotorCycle Holdings sells 8 of the top 10 selling motorcycle brands in Australia (by number of new motorcycle sales). In 2018 these 8 brands represented 88% of Australian new motorcycle volume. In the used motorcycle category the Company sells all of the top 10 selling brands (by number of used motorcycle sales) in Australia.”

Highfield Resources Ltd (ASX:HFR)
HFR’s share price went up 17.6 percent today after recent AGM presentation on Wednesday. HFR is progressing with drilling at the Vipasca permit area within the project and has updated the ore reserve estimate for Muga to 108.7 million tonnes of proved and probable reserves at 10.2% potassium oxide, with 27 years life of mine.

Calidus Resources Ltd (ASX:CAI)
Share price for CAI was up 17.5 percent today. On Wednesday, CAI announced to acquire Otways Project near Warrawoona which it can earn an interestof  up  to  70%  in  tenements  that  host  the  Otways  Project  and  Reedies  porphyry  prospect, 50km from its flagship Warrawoona Gold Project in WA’s Pilbara.

Blackham Resources Ltd (ASX:BLK)
On Tuesday, BLK released an ASX announcement titled “Outstanding drill results confirm Wiluna sulphide strategy”. These results from recent drilling at the Essex and Bulletin lodes include 14.45m at 17.16 grams per tonne gold from 18.95m; 12.4m at 7.93g/t gold; 12m at 7.01g/t gold; and 6m at 53.73g/t gold, including 1m at 283g/t gold.

Triton Minerals Ltd (ASX:TON)
Graphite producer, TON saw its share price up 13 percent on Friday. According to Triton’s 14 May ASX announcement: “Triton notes that the change in the price of Triton securities and the significant increase in the volume of securities traded may also be prompted by increased investor confidence in the Company from previous announcements in March 2020 and April 2020. The Company has previously announced that its strategic partners had advised that business was returning to normal in China following the rapid Chinese response to COVID-19 and that the Board anticipated the acceleration of financing discussions in China and construction to commence in Q3 2020. In addition, the Chairman of the Company’s largest shareholder provided a strong message of support for the Company, expressing confidence in a very positive future for Triton.”

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