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Highlights
The Australian share market finished the financial year 2022 in the red.
The benchmark ASX 200 ended 9.5% lower.
The metals & mining and resources sectors emerged as top gainers.
The Australian share market finished the financial year 2022 on a weak note, weighed down by rate hikes, inflation, and geopolitical tensions. The benchmark ASX 200 index ended 9.5% lower in FY22. While majority of ASX sectors ended in the red, metals & mining and resources emerged as top gainers despite overall weak market sentiment. So, there were notable exceptions in form of companies producing lithium, copper, and iron, which racked up gains. Mining shares, particularly, largely gained on account of significant pick-up in commodity prices in the financial year 2022.
On this note, let’s look at the five best performing ASX-listed shares in FY22.
Core Lithium Ltd (ASX:CXO)
Lithium producer Core Lithium was the best performing stock in FY22 with a gain of 306%. Shares of Core Lithium mainly surged amid a rise in the prices of major commodities such as lithium, copper, and uranium. The Australian lithium producer, which basically explores minerals in South Australia and the Northern Territory, notched up gains as lithium carbonate prices surged more than 400% year on year.
Stanmore Resources Ltd (ASX:SMR)
Global coal supplier Stanmore Resources’ share price gained 185% in FY22. Brisbane-headquartered Stanmore supplies metallurgical coal to different countries. Its major assets include Poitrel and South Walker Creek coal mines and Isaac Plains Complex.
Yancoal Australia Ltd (ASX:YAL)
Shares of coal producer Yancoal Australia recorded a rise of 172% in the financial year 2022. The ASX-listed pure play coal producer has benefitted immensely from record high coal prices following Russia’s invasion of Ukraine. The other major boost was the rejection of Yankuang Energy’s takeover bid by Yancoal’s independent board committee.
Whitehaven Coal Ltd (ASX:WHC)
The share price of Whitehaven Coal rose 148% in the financial year 2022. The producer of metallurgical and thermal coal owns four mines, of which three are open cut and one underground. Whitehaven also exports coal to nations across North and Southeast Asia.
Grange Resources Ltd (ASX:GRR)
The share price of Grange Resources rose 114% in FY22. The ASX-listed producer of iron ore pellets has two operations in Tasmania and one in Western Australia. Iron ore pellets are used in steel production.
