Although the All Ordinaries (Index: ^AXAO) (ASX: XAO) has only managed to carve out a gain of 0.5% this year, a number of shares on the index haven't let that hold them back.
In fact, the three shares listed below have not only beaten the index, they have more than doubled in value this year. Here's why:
The Clean TeQ Holdings Limited (ASX: CLQ) share price has risen 120% year-to-date. Investors have been snapping up shares in a hurry thanks to its exposure to the cobalt boom through its Syerston Nickel Cobalt Scandium Project in New South Wales. The mineral deposit is one of the largest and highest grade sources of cobalt outside Africa, putting it in a strong position to profit from the increasing demand for cobalt to be used in the lithium batteries of electric vehicles.
The Kogan.com Ltd (ASX: KGN) share price has rocketed 210% so far in 2017. The catalyst for this gain was an impressive full-year result from the online retailer. In FY 2017 Kogan posted full-year pro forma net profit after tax of $7.2 million. This was both an 800% increase on the prior year and a massive 188% higher than its prospectus forecast. While I have been very impressed with Kogan, I plan to hold off an investment and wait to see how Amazon's launch in Australia impacts its business.
The Lynas Corporation Ltd (ASX: LYC) share price is up 167% since the turn of the year. The mining company's shares have been on a tear thanks to a much improved business performance following a recovery in the prices of rare earths. This led to record total sales revenue after sales commission of $257 million and positive adjusted EBITDA of $31.9 million in FY 2017. Pleasingly, management has advised that the improved global market conditions it experienced in the second half of the financial year have continued into the early part of FY 2018. This could make it one to watch in the resources sector.
