These were the best performers on the ASX 200 in November

The Appen Ltd (ASX:APX) share price was one of the best performers on the ASX 200 in November. Here's why…

| More on:
a woman

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Despite getting off to a positive start, the month of November turned out to be another disappointing one for Australian investors.

The benchmark ASX 200 finished the period with a decline of 2.8%.

But not all shares on the index finished in the red. The three best performers on the ASX 200 in November were as follows:

The Appen Ltd (ASX: APX) share price finished the month with a gain of 31%. The catalyst for this strong gain was an upgrade to its full year guidance given on November 15. Due to a sharp increase in monthly revenues from existing projects from existing customers, the developer of high-quality, human annotated datasets for machine learning and artificial intelligence lifted its full year underlying EBITDA guidance to the range of $62 million to $65 million. This compares to previous guidance of between $54 million and $59 million. Although its shares have rallied strongly, I still feel they are the best value in the WAAAX group.

The G8 Education Ltd (ASX: GEM) share price put on a gain of 36% in November. Investors have been fighting to get hold of the childcare centre operator's shares after trading conditions in the industry improved. During the month both G8 Education and one of its rivals reported improvements in key metrics such as occupancy levels. This news led to Morgan Stanley upgrading the company's shares to an overweight rating with a $3.25 price target. The broker believes that G8 Education is at an inflection point.

The Orocobre Limited (ASX: ORE) share price pushed an impressive 30% higher during the month. Improving investor sentiment in the battery materials space and a positive investor update have largely been the catalysts for Orocobre's rise this month. It was also given a boost when analysts at Citi slapped a buy rating and $6.00 price target on the company's shares at the end of October. Even after its stellar run this month, that price target implies potential upside of 39% from its current share price.

Next month I wouldn't be surprised if one of the five shares revealed below follow Orocobre's lead and push higher.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of Appen Ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Share Gainers

A businessman stacks building blocks.
Share Gainers

Here are the top 10 ASX 200 shares today

ASX shares hit a new record high today.

Read more »

A man sees some good news on his phone and gives a little cheer.
Share Gainers

Why Auckland Airport, Australian Ethical, Breville, and Clarity shares are charging higher

These shares are having a better day than most on Thursday. But why?

Read more »

A man sits on a bench atop a mountain with a laptop, making investments with a green ESG mind.
Share Gainers

Here are the top 10 ASX 200 shares today

Investors endured a day to forget this hump day.

Read more »

A young woman holding her phone smiles broadly and looks excited, after receiving good news.
Share Gainers

Why Droneshield, Meteoric Resources, Mount Gibson, and Tyro shares are charging higher

These shares are having a good time on hump day. But why?

Read more »

Ten smiling business people wave to the camera after receiving some winning company news.
Share Gainers

Here are the top 10 ASX 200 shares today

The ASX was back in the black this Tuesday.

Read more »

Man drawing an upward line on a bar graph symbolising a rising share price.
Share Gainers

Why DroneShield, Hansen, Hub24, and Paladin Energy shares are racing higher today

These shares are having a strong session. Let's find out why.

Read more »

Man on a laptop thinking.
Share Gainers

Here are the top 10 ASX 200 shares today

Investors weren't in a good mood this Monday.

Read more »

a young woman raises her hands in joyful celebration as she sits at her computer in a home environment.
Share Gainers

Why Abacus Storage King, DroneShield, Hansen, and Macquarie Technology shares are charging higher

These shares are starting the week on a positive note. But why?

Read more »