Although year-to-date the ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) has managed to carve out a return of just 1.6%, not all shares in the index have performed as poorly.
Three shares in particular have gone absolutely nuts so far this year. Here's why:
The Avanco Resources Limited (ASX: AVB) share price is up 71% so far in 2017. Avanco's strong share price performance is largely due to a rally in copper prices as a result of solid Chinese demand and supply disruptions. These supply disruptions are unlikely to ease anytime soon, which I expect will mean favourable prices for Avanco. However, at the current share price I think the copper miner is a little expensive and could be at risk of declines.
The Costa Group Holdings Ltd (ASX: CGC) share price has risen 28% this year. The catalyst for this was a strong first-half result from the leading grower, packer and marketer of fresh fruit and vegetables. Costa reported a 35.7% jump in net profit after tax before SGARA and material items, thanks to a solid performance from all its core produce categories. Whilst I like Costa, I am concerned what the supermarket price-war will mean for its future results. In light of this I would hold off an investment for the time being.
The Estia Health Ltd (ASX: EHE) share price has rocketed 19% year-to-date. The aged care operator was one of the big winners during earnings season, surprising the market with a half-year net profit result of $19.8 million. This was a 17% increase on the prior corresponding period and possibly an indication that the company has now turned a corner. Whilst management has stated that it is on course to meet full-year EBITDA guidance of between $86 million and $90 million, the company doesn't have the best track record when it comes to providing guidance.
