Despite the recent market volatility, a number of shares have continued their impressive runs and climbed to 52-week highs or better.
Three that achieved this on Thursday are listed below. Here's why they are on fire right now:
The Codan Limited (ASX: CDA) share price jumped to a multi-year high of $4.17 yesterday. The electronic products manufacturer's shares have been impressive performers this year thanks to its strong operating performance and its positive outlook due to its exposure to gold. With the gold price storming higher due to trade war concerns and falling bond yields, demand for the company's industry-leading gold detectors looks set to increase strongly and underpin strong profit growth in FY 2020.
The Evolution Mining Ltd (ASX: EVN) share price climbed to a multi-year high of $5.58 yesterday, stretching its year to date gain to a sizeable 50%. The catalyst for this has been a strong rise in the gold price this year due to interest rates and bond yields falling across the globe and concerns over the impact that the US-China trade war could have on global economic growth. And with some experts tipping the precious metal to climb all the way up to US$2,000 an ounce, the gains may not be over for Evolution Mining's shares.
The iSignthis Ltd (ASX: ISX) share price continued its remarkable run and hit an all-time high of 98 cents on Thursday. This latest gain means that the neobank and global RegTech leader's shares have now rocketed an incredible 550% since the start of the year. Investors have been buying its shares this year due partly to the strong performance of its Paydentity platform. In addition to this, investors responded positively to news that iSignthis has signed a new licensing agreement with payments giant Visa on Thursday. This new agreement will allow iSignthis to act as a merchant's card acquiring institution, process card-not-present payments, and make settlements on behalf of the merchant from cards issued anywhere globally by Visa or associate member institutions.
