During the first week of December, the S&P ASX 200 Index (ASX: XJO) fell 1.76%, ending Friday at 5,186. Here are four companies that the market has snapped up and made the week's biggest gainers in the ASX 200.
Paladin Energy (ASX: PDN) climbed 15% for the week, closing at $0.47. In late November, there was more news about the ongoing talks with a number of parties with interest in acquiring a minority interest in its Langer Heinrich uranium mine in Namibia. On December 2 it released a statement that those interested parties had access to an updated data room, and had conducted tours of the mine site.
In 2013, the company's Namibia operations accounted for $286 million of the total $445 million revenue, and had an EBIT of $53.1 million, although the company ended up with a $511 million net loss after tax.
Whitehaven Coal (ASX: WHC) was also up 15%, ending the week at $1.86 a share after reporting its $1.2 billion debt facility was allowed to be amended, and the interest coverage ratio test that was supposed to occur in December 2014 will now be in December 2015.
The facility was for its Maules Creek project, which has had development delays, but it is expected now to have its first coal in the first quarter of calendar 2015. There has been no repricing of the underlying facility and it stated that its 75% share of the remaining construction budget for the project is funded.
Fairfax Media (ASX: FXJ) rose 13%, and on Friday closed $0.68, after its Dec. 4 announcement that it was selling its Stayz holiday rentals website for about $220 million. The buyer is HomeAway Australia, the subsidiary of US holiday rentals website operator HomeAway.
The company sold its 51% stake in TradeMe, the New Zealand-based online classifieds portal in Dec. 2012 for $616 million, and is currently operating The Sydney Morning Herald and The Age newspaper and news websites, as well as real estate listings portal domain.com.au.
Panaust (ASX: PNA), the copper-gold producer, ended at $1.67 on Friday, up 10% for the week. Earlier last month it announced that it will acquire Glencore's stake in the Frieda River gold-copper project in PNG for $75 million.
Also, it will take a cornerstone stake in Highlands Pacific, which is a JV partner in the Frieda River project with Xstrata Glencore. Initially, it will have a 7.5% shareholding in Highlands Pacific. After the completion of the Panaust Glencore agreement, Panaust will have a respective 20-80 joint venture share with Highlands Pacific for the project.
On Dec. 6, it was announced that the company would be removed from the S&P ASX 100 Index (ASX: XTO) after December 20 market close.
Foolish takeaway
Investors should be taking time each week to keep up with the stocks they own, and a routine check on the market's gainers can be good inspiration for where to look for your next stock winner.
Find out about the prospective companies first before making any moves. Gains can be fleeting and purely market-driven, so you always want to know the company before committing yourself.
