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Highlights
The Australian share market opened in the green on Wednesday.
Investors now have their eyes set on the US Federal Reserve’s potential rate hike decision.
In such a scenario, investors are in search of stocks with decent performance in the recent past.
The ASX 200 opened on an upbeat note on Wednesday, tracking modest gains recorded by Wall Street in overnight trade. Investors now have their eyes set on the US Federal Reserve’s potential rate hike decision.
In the first ten minutes of early trade, the benchmark ASX 200 index rose 0.68% or 50 points to 7,366.2 while the volatility index fell 11.35% to 15.33. Amid ongoing volatility, investors are in search of stocks with decent performance in the recent past.
On this note, let’s discuss ten stocks which have been the best performers on the ASX 200 in the past year. The selected stocks (arranged in ascending order of gains) have given over 50% returns to their shareholders till 3 May 2022.
IVE Group (ASX:IGL)
IVE Group operates in the consumer discretionary sector. The firm operates through four divisions namely - Kalido, Pareto Group, Blue Star, and IVEO.
The stock has given a return of 50.36% in the past year.
IVE’s revenue grew by 12.2% to AU$382.6 million for the six months to 31 December 2021. Net profit after tax (NPAT) was up 99% on the prior corresponding period to AU$20.9 million.
Incitec Pivot Ltd (ASX:IPL)
Incitec Pivot an Australian multinational corporation that manufactures fertilisers, explosives chemicals, besides offering mining services.
The stock has given a return of 50.49% in the past year.
Incitec recently informed the ASX that it had restarted production at its US-based Waggaman ammonia plant. The company further said that the recommencement of the plant is likely to have a positive impact on its earnings.
Tower Ltd (ASX:TWR)
Tower is a New Zealand-based insurance company which provides fire and general insurance.
The stock has given a return of 51.07% in the past year.
Tower completed its capital return of about NZ$30.4 million (AU$28.3 million) to its shareholders in March.
Monash IVF Group Ltd (ASX:MVF)
Monash IVF is a provider of reproductive services (particularly IVF) in Australia and has many labs with cost-ffective fertility treatment options.
The stock has given a return of 51.24% in the past year.
In 1H22, the company reported an 11.7% increment in net profit after tax (NPAT). In 2H22, MVF plans to commission a new IVF clinic in Singapore.
Turaco Gold Ltd (ASX:TCG)
Turaco Gold (formerly Manas resources Limited) is an ASX-listed gold exploration company, focused on Ivory Coast-based projects.
The stock has given a return of 51.67% in the past year.
On 3 May, Turaco Gold announced that it had received encouraging results from its ongoing auger program, which is being undertaken at the Tongon North Gold Project.
Challenger Ltd (ASX:CGF)
Challenger is an investment management firm focusing on providing Australians with financial security in retirement.
The stock has given a return of 52.01% in the past year.
Challenger recently revised its fiscal guidance "towards the upper end" of AU$430 million-AU$480 million after sales jumped 10% in Q3 of FY2022.
ReadyTech Holdings Ltd (ASX:RDY)
ReadyTech offers people management software for educators, employers, and facilitators of career transitions to complete payroll, human resource admin, work health and safety management ecosystem.
The stock has given a return of 52.40% in the past year.
In March, ReadyTech announced that it will buy online recruitment management company PhoneixHRIS for AU$3.3 million.
Petratherm Ltd (ASX:PTR)
Petratherm, together with its subsidiaries, is engaged in the mineral exploration activities.
The stock has given a return of 53.33% in the past year.
The company’s stock was in focus a couple of weeks ago after it announced that a recent rotary air blast (RAB) drilling in South Australia had revealed significant rare earth occurrences.
Garda Property Group (ASX:GDF)
Garda Property invests in commercial and industrial properties and other associated assets.
The stock has given a return of 53.48% in the past year.
In the December half of FY2022, Garda Property’s net profit rose 520% to AU$64.74 million.
Golden Deeps Ltd (ASX:GED)
Golden Deeps is an exploration company, which is into discovery and development of mineral deposits.
The stock has given a return of 54.55% in the past year.
In February, Golden Deeps informed the ASX that it had hit high-grade copper-vanadium-lead mineralisation at the Nosib Block Prospect in Namibia.
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