CRN, CGF, AMC: Three ASX 300 shares hitting new 52-week highs

3 min read | May 06, 2022 08:39 AM AEST | By Ashish

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CRN, CGF, AMC: Three ASX 300 shares hitting new 52-week highs — Image source: © Tiero | Megapixl.com

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Highlights

The ASX 300 ended up 0.87% at 7,361.9 points on Thursday.

The ASX 200 rose 0.8% to 7,364.7 points.

There were several stocks on the ASX 300 which recorded their all-time highs.

On Thursday, the Australian share market traded on a decent note and recorded gains after remaining muted throughout the week. While the ASX 200 rose 0.8% to 7,364.7 points, the ASX 300 ended the day up 0.87% at 7,361.9 points. There were several stocks on the ASX 300 which recorded their all-time highs.

Investors would be closely tracking these shares amid the ongoing global uncertainty due to the geopolitical tensions and concerns arising out of interest rate hikes.

On this note, let’s discuss three ASX 300 shares that hit their new 52-week highs on Thursday:

Coronado Global Resources Inc (ASX:CRN)

Coronado Global Resources is one of the largest producers of high-quality metallurgical coal in the world. It operates into the two regions i.e., the Bowen Basin in Queensland, Australia, and the Central Appalachian in US.

Shares of Coronado Global hit a new 52-week high of AU$2.49 on Thursday and ended the day at AU$2.46, up 3.36%. The new 52-week high is the highest-level hit since August 2019.

The share price may have surged due to the surging prices of coal, which rose 9% to US$355 per tonne in a single day.

Challenger Ltd (ASX:CGF)

Challenger is an investment management firm which focuses on providing Australians with financial security in retirement.

Shares of Challenger hit a new 52-week high of AU$7.72 on Thursday and ended the day at AU$7.68, up 3.09%. The new 52-week high is the highest-level hit since March 2020.

The stock may have risen after the company’s Managing Director (MD) and Chief Executive Officer (CEO) Nick Hamilton highlighted the success of the firm’s diversification strategy at Macquarie Australia conference in Sydney held on Thursday.

Amcor CDI (ASX:AMC)

Amcor is a packaging company that runs through Amcor Rigid Plastics and Amcor Flexibles mainly.

Shares of Amcor hit an all-time high of AU$18.11 on Thursday and ended the day at AU$17.69, up 5.68%.

The shares may have risen after the company released its financial results for the nine months ended 31 March 2022. Net sales for the quarter surged 15.6% to AU$3,708 million.

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