- Northern Star (ASX:NST) reports strong June quarter, shares move up
- Santos (ASX:STO) jumps most in one month on lifting production, sales outlook
- Orocobre hits record high as lithium demand boosts production, pricing
The S&P/ASX200 closed up Thursday, gaining 77.70 points or 1.06% to 7,386.40 and setting a new 20-day high. Over the last five days, the index has gained 0.69% and is currently 0.27% off of its 52-week high.
10 of 11 sectors ended higher along with the S&P/ASX 200 Index. Energy was the best performing sector, gaining 2.52% and rebounding from its recent decline. This sector is off 1.27% for the past five days.
Now let us look at some of the stocks that trended the most today.
Australian Vanadium (ASX:AVL) jumps on A$2.71 million government manufacturing grant
Shares of titanium explorer Australian Vanadium Limited (ASX:AVL) rose as much as 16.7% to AU$0.021, marking their best day since 8 June 2021.
The Company stated it has been awarded a AU$3.69 million grant from the Australian government under the Resources Technology and Critical Minerals Processing National Manufacturing Priority Grant.
The Company stated it has secured grant to design, build and operate an Australian vanadium battery electrolyte plant and to develop local vanadium redox flow battery prototypes.
The shares are up 28.6% YTD, as of the last close and ended today’s session 11.111% higher at AU$0.020 per share.
Recce Pharmaceuticals (ASX:RCE) jumps on grant of anti-viral patent in U.S.
Shares of Recce Pharmaceuticals Ltd (ASX:RCE) rose as much as 5.6% to AU$1.130, their highest since 31 May 2021.
The Company stated that U.S. Patent and Trademark Office has granted Patent Family 3 "Anti-Virus Agent and Method for Treatment Of Viral Infections".
It stated granted patent relate to RECCE 327 antibiotic and anti-viral formulation RECCE 529, which are used in treatment of viruses.
The stock is up 1.4% YTD, as of the last close and ended today’s session at AU$1.105 per share, up 3.271%.
Damstra Holdings (ASX:DTC) jumps 22% after strong revenue growth
Damstra Holdings Limited (ASX:DTC) stock soared 22% to AU$0.97, on track for its best single-day performance since 7 October last year.
The software firm reported a 75% jump in quarterly revenue on higher usage among existing clients and acquisition of new ones.
Share surge is supported by vigorous trading with more than 3.6 million shares changing hands, 4 times the 30-day average.
The stock closed 20.754% higher at AU$0.960 per share today.
Orocobre hits record high as lithium demand boosts production, pricing
Shares of lithium miner Orocobre Ltd (ASX:ORE) hit a record high, jumped as much as 12.6% to AU$7.84 per share on Thursday.
The Company stated its quarterly realised average price was AU$8,476/tonne, more than double from a year ago.
For June quarter, lithium production rose 31% to 3,300 tonnes and sales jump 59% to 2,549 tonnes from prior year.
ORE said demand for lithium chemicals remained strong across all key geographies and customer segments and percentage of battery grade product sales is expected to remain above 50% during FY22.
The stock closed 9.913% higher at AU$7.650 per share.
Galaxy Resources (ASX:GXY) posts strong gains on robust spodumene demand, output
Image: © Fambros | Megapixl.com
Shares of Australia's Galaxy Resources Ltd (ASX:GXY) jumped up to 11.5% to AU$4.46, hitting their highest levels since 10 Jan 2018.
The lithium-focused mineral explorer stated it continues to see strong demand for its spodumene concentrate as rising global EV sales increase the utilisation of spodumene converters in China.
For June quarter, the Company has posted a 35% jump q-o-q to 63,321 dry metric tonne (dmt) in lithium concentrate production from Mt Cattlin.
Galaxy targets production of up to 210,000 dmt of lithium concentrate from Mt Cattlin in 2021.
GXY was among the biggest gainers in the mining sub-index AXMM.
Moneyme (ASX:MME) jumps on strong trading update
Shares of MoneyMe Limited (ASX:MME) jumped as much as 9% to AU$2.07, post their biggest intraday percentage gain since 30 June 2021.
Digital customer credit Company has reported originations of AU$161 million for Q4, up nearly five-fold from a year earlier.
Revenue rose 73% from a year ago to AU$19 million.
MME stated strong originations predominantly achieved through personal loan and freestyle products, and through direct-to customer channels.
MME stock is up 30.1% this year so far.
The stock closed 6.842% higher at AU$2.030 per share today.
Santos (ASX:STO) jumps most in one month on lifting production, sales outlook
Image: © Pichitbo | Megapixl.com
Shares of Santos Limited (ASX:STO) gained as much as 3.2% to AU$6.78, their biggest intraday percentage gain since 22 June 2021.
The country's second-largest independent gas producer has raised the lower end of its annual production outlook and reported a 37% jump in Q2 revenue, benefiting from increased demand for natural gas.
STO now expects to produce between 87 million barrels of oil equivalent (mmboe) and 91 mmboe in 2021, up from previous forecast of 84 mmboe to 91 mmboe.
The Company forecasts annual sales volume to be between 100 mmboe and 105 mmboe, compared with previous outlook of 98 mmboe to 105 mmboe.
STO stock is up 4.8% this year, as of the last close as was spotted trading 2.891% up at AU$6.760 per share at 12:30 PM AEST today.
Lynas (ASX:LYC) shares post huge gains backed by government grant
Image: © Tbe | Megapixl.com
Shares of Lynas Rare Earths Limited (ASX:LYC) closed today’s session up 9.013% to AU$6.410 per share today.
Rare earths producer has received a AU$14.8 million grant as part of Australian government's Modern Manufacturing Initiative.
The Company has said that the grant will enable commercialising a rare earth carbonate refining process, which has been developed in-house.
LYC said the process will be installed during construction of the Company’s AU$500 million rare earth processing facility in Kalgoorlie, Western Australia.
Northern Star (ASX:NST) reports strong June quarter, shares move up
Image Source: © Bendicks | Megapixl.com
Northern Star Resources Ltd (ASX:NST), the gold producer and explorer, released its quarterly activities report for the period ending June 2021. NST has reported solid operational and financial results for the June quarter of 2021.
Gold sold by NST during the quarter totaled 444,012oz. June quarter sales have taken gold sales, in line with FY21 guidance.
The net mine cash flow of NST in the quarter was AU$182 million. The amount was arrived at after considering an investment of AU$176 million in growth capital and AU$39 million in exploration.
NST has a cash and bullion balance of more than AU$800 million as of the end of the financial year. NST also reported that the scale of its business is exceptional and is now underpinned by Reserves of 21Moz exclusively in tier-one locations.
NST shares closed 5.386% strong at AU$10.760 per share today.