Why Citadel, Evolution, PolyNovo, & Pro Medicus shares are charging higher

The Evolution Mining Ltd (ASX:EVN) share price and the PolyNovo Ltd (ASX:PNV) share price are two of four charging higher on Monday…

| 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

The S&P/ASX 200 index is on course to start the week with a disappointing decline. In afternoon trade the benchmark index is down 1.15% to 6,935.9 points.

Four shares that have not let that hold them back today are listed below. Here's why they are charging higher:

The Citadel Group Ltd (ASX: CGL) share price is up 2.5% to $4.91. Investors have been buying the managed technology solutions provider's shares after it provided an update on recent contract wins. Management believes that these contract wins reflect the continued trust that Citadel's clients place in the company and the strong products and services proposition it provides in its key verticals.

The Evolution Mining Ltd (ASX: EVN) share price is up 3% to $3.82. Investors have been buying Evolution and the rest of the gold miners on Monday due to increasing demand for safe haven assets. This solid demand for the gold miners has led to the S&P/ASX All Ords Gold index climbing 1.4% this afternoon. The good news for Evolution is that this has offset an announcement which reveals that La Mancha Group has just trimmed its holding in Evolution by over 20 million shares.

The PolyNovo Ltd (ASX: PNV) share price has continued its positive run and is up a further 2% to $2.86. This latest gain means that the PolyNovo share price is now up a massive 54% since the start of the year. Investors have been buying the medical device company's shares thanks to positive developments in both the European and UK markets.

The Pro Medicus Limited (ASX: PME) share price has climbed almost 5% to $25.15. The Pro Medicus share price is racing higher on Monday despite there being no news out of the healthcare imaging software and services provider. It has also been a strong performer in 2020. This latest gain means that Pro Medicus' shares are now up 13% year to date.

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. recommends Pro Medicus Ltd. The Motley Fool Australia owns shares of and has recommended Pro Medicus Ltd. The Motley Fool Australia has recommended Citadel Group 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 Market News

The words short selling in red against a black background
Share Market News

These are the 10 most shorted ASX shares

Let's see which shares short sellers are targeting this week.

Read more »

Smiling man with phone in wheelchair watching stocks and trends on computer
Share Market News

5 things to watch on the ASX 200 on Monday

A good start to the week is expected for Aussie investors. Here's what to watch.

Read more »

A businessman compares the growth trajectory of property versus shares.
Opinions

What's the outlook for shares vs. property in 2025?

The experts have put out their new year predictions...

Read more »

a man sits at his desk wearing a business shirt and tie and has a hearty laugh at something on his mobile phone.
Broker Notes

Top brokers name 3 ASX shares to buy next week

Brokers gave buy ratings to these ASX shares last week. Why are they bullish?

Read more »

A young man pointing up looking amazed, indicating a surging share price movement for an ASX company
Broker Notes

These ASX 200 shares could rise 20% to 40% in 2025

Analysts are tipping these shares to deliver huge returns for investors next year.

Read more »

A transport worker walks alongside a stack of containers at a port.
Share Market News

Here's how the ASX 200 market sectors stacked up last week

Industrials came out best amid another bad week for the ASX 200, which fell 2.47% to 8,067 points.

Read more »

Cheerful boyfriend showing mobile phone to girlfriend in dining room. They are spending leisure time together at home and planning their financial future.
Opinions

My ASX share portfolio is up 30% this year! Here's my plan for 2025

The best investing plans shouldn't need too many updates.

Read more »

Animation of a man measuring a percentage sign, symbolising rising interest rates.
Share Market News

Here's when Westpac says the RBA will cut interest rates in 2025

Will the RBA finally take interest rates lower in 2025? Let's see what is being forecast.

Read more »