These were the best performing ASX 200 shares in July

These ASX 200 shares made their shareholders very happy in July…

| More on:
ASX 300 share investors in suits running a race on an athletics track

Image source: Getty Images

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 (ASX: XJO) was on form again in July. The benchmark index recorded a 1.1% gain to end the month at 7,392.6 points.

While a good number of shares climbed higher with the market, some climbed more than others. Here's why these were the best performing ASX 200 shares in July:

Perenti Global Ltd (ASX: PRN)

The Perenti share price was the best performer on the ASX 200 last month with a 35.8% gain. There were a number of catalysts for this strong rise. This includes its Barminco business finalising a $280 million four-year contract with Panoramic Resources Limited (ASX: PAN) and a bullish broker note out of Macquarie. In respect to the latter, Macquarie put an outperform rating and 95 cents price target on its shares. The broker believes Perenti's work in hand and order book will support strong free cash flow and underpin a generous dividend.

Sydney Airport Holdings Pty Ltd (ASX: SYD)

The Sydney Airport share price wasn't far behind with 34.9% gain. Investors were fighting to get hold of the airport operator's shares after it received an $8.25 cash per share takeover offer from a consortium of infrastructure investors. This offer represented a 42% premium to its last close price at the time and valued the airport operator at $22.3 billion. However, Sydney Airport rejected the offer, noting that it was made during a global pandemic, which has deeply affected the aviation industry and the Sydney Airport share price. Investors appear optimistic an improved offer will be made.

Lynas Rare Earths Ltd (ASX: LYC)

The Lynas share price was a strong performer in July and recorded a 28.5% gain. A good portion of this gain was made in the final week of the month following the release of its fourth quarter update. That update revealed that Lynas achieved a 79.7% increase in quarterly neodymium and praseodymium (NdPr) production to 1,393 tonnes during the three months. Together with the near doubling of its average realised price, Lynas reported a 389% increase in quarterly sales revenue to $185.9 million.

Pilbara Minerals Ltd (ASX: PLS)

The Pilbara Minerals share price was on form again and stormed 22% higher in July. This is despite the lithium miner's shares spending the latter few days of the month in a trading halt. Investors were buying the company's shares after investor sentiment in the industry increased further following a series of positive quarterly updates from lithium miners. Those updates revealed strong demand and pricing for lithium.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Share Gainers

Person pretends to types on laptop drawn in sand.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a disappointing end to the trading week for investors this Friday.

Read more »

A young boy points and smiles as he eats fried chicken.
Share Gainers

3 ASX All Ords shares smashing the benchmark this week

Investors are sending these three ASX All Ords shares rocketing 18% to more than 29% this week. But why?

Read more »

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

Why Alliance Aviation, BHP, Boss Energy, and Orthocell shares are racing higher

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

Read more »

Man with backpack spreading his arms out and soaking in the sun.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a disappointing session for investors today.

Read more »

Hands reaching high for a trophy with a sunset in the background.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a nervous hump day session for ASX investors today.

Read more »

Woman with an amazed expression has her hands and arms out with a laptop in front of her.
Share Gainers

Why Collins Foods, DroneShield, Star Entertainment, and Virgin Australia 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

ASX investors enjoyed a strong recovery day this Tuesday.

Read more »

A graphic showing a businessman running up a white upwards rising arrow symbolising the soaring Magellan share price today
Share Gainers

CBA shares hit another all-time high. Can they surpass $200 in 2025?

CBA shares have a tailwind pushing up their price that has nothing directly to do with the bank's business performance.

Read more »