DRO, HLS and NEM: Three ASX Stocks Making Waves on Tuesday's Rally

2 min read | March 04, 2024 10:27 PM PST | By Team Kalkine Media

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DRO, HLS and NEM: Three ASX Stocks Making Waves on Tuesday's Rally — Image source: Pixabay

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In a dynamic session on Tuesday, the S&P/ASX 200 Index reached 7,724.20 points, 0.15% lower than previous close. There are three ASX shares are catching the spotlight today, each with a unique narrative fueling their ascent.

DroneShield Ltd (ASX: DRO)

The DroneShield share price is enjoyed a 11.38% surge, reaching 68 cents. Analysts at Bell Potter have upgraded this counter-drone technology company to a buy rating, setting an ambitious 90 cents price target. This upgrade implies a substantial 40% potential upside, contributing to the stock's momentum.

Healius Ltd (ASX: HLS)

Healius shares saw a remarkable 14.67% increase, reaching AU$1.29. This surge follows the sudden departure of CEO Maxine Jaquet, immediately replaced by the company's chief financial officer, Paul Anderson. Anderson is set to lead a comprehensive review of Healius' structure and assets, a strategic move amid a 50% dip in shares over the last 12 months.

Newmont Corporation (ASX: NEM)

Newmont's share price climbed 5.46% to AU$51.37, fueled by heightened interest in ASX gold shares after a historic surge in gold prices. CNBC reports a 1.46% gain in the gold futures contract for April, settling at an unprecedented US$2,126.30. The surge, the highest since the contract's inception in 1974, is attributed to rate cut optimism, amplifying the shine of precious metals.

Conclusion

As the ASX market experiences a notable session, these stocks stand out, each driven by distinct factors. Investors navigate through the dynamic landscape, considering the implications of leadership changes, technological advancements, and precious metal optimism. The market remains vibrant, offering opportunities amid nuanced narratives.

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