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Highlights
- ASX 200 Material Index was 0.38% up today and the index closed at 16,913.60 points.
- Mining companies like Core Lithium, Sayona Mining, and Pilbara closed in green today.
Australia's stock market gained on Thursday (June 16), powered by financials and technology sectors, as investors hailed the US Federal Reserve's decision to raise interest rates by a quarter of a percentage point.
Even though iron ore prices fell, mining stocks gained, as upbeat economic data from top consumer China pushed copper and aluminium prices higher in May. Behemoths like BHP Group (ASX:BHP) and Rio Tinto (ASX:RIO) advanced around 0.25% and 0.67%, respectively.
However, the market closed in the red today with the ASX 200 Index losing 0.15% to close at 6,591.10 points. While the ASX 200 Material Index was 0.38% up and closed at 16,913.60 points.
On that note, we will discuss three mining companies which have gained more than 50% in the last one year. These include Core Lithium, Sayona Mining and Pilbara Minerals.
Core Lithium Ltd
Core Lithium (ASX:CXO) is well-positioned to become Australia's next lithium producer, with the Finniss Lithium Project being one of the country's most capital-efficient and low-cost spodumene lithium prospects.
Shares of Core Lithium closed at AU$1.21 each today, up 5.22% on ASX. The company has a current market capitalisation of AU$1.99 billion and around 35.91 million shares traded on ASX today.
Core Lithium Ltd is projected to join the S&P/ASX 200 Index before the market opens on 20 June 2022. The revisions in the S&P/ASX Indices as a result of the June quarterly review were announced by S&P Dow Jones Indices on 3 June 2022.
Core Lithium's shares have jumped around 105% on a YTD basis; however, the shares have grown almost 400% in the past one year.
Also Read: Core Lithium (ASX:CXO) shares grabbed investors’ attention today, here’s why
Source: © Khorzhevska | Megapixl.com
Sayona Mining Limited
Sayona Mining Limited (ASX:SYA) is focused on identifying, acquiring, and evaluating mineral exploration assets, particularly lithium. Australia and Overseas are two of the company's geographical segments. The Authier Lithium Project in Quebec, Canada, and the Tansim Lithium Project in Canada have been the company's principal emphasis.
Shares of Sayona last exchanged hands at AU$0.137 apiece, up 5.77% on ASX. The company has a market capitalisation of AU$1.07 billion.
In the last one year, Sayona's shares have grown around 114%.
Also Read: Sayona Mining (ASX:SYA) shares trading in green today, here's why
Pilbara Minerals Limited
Pilbara Minerals Limited (ASX:PLS) is an Australian company developing and operating mineral resources. The company was founded in 2005 and is based in West Perth, Western Australia.
The company's shares have fallen over 33% on a YTD basis. However, the shares have grown almost 60% in the last one year.
