Which ASX 300 shares are leading the way mid-week?

It's almost a sea of red on the ASX 300 today…

children wearing red clothing are featured on a wall painted with a large wave pattern. The children are standing but are making swimming gestures with their arms to look as though they're battling against the sea.

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 300 Index (ASX: XKO) is falling wayside today, continuing its disappointing run from yesterday's 1.45% loss.

At the time of writing, the ASX 300 is hovering 1.42% lower to 7,146.1 points. This means that the index is now down by more than 4% in a month.

The weak investor sentiment across the market has led to a number of shares in the red. However, let's first take a look at the biggest gainers on Wednesday.

St Barbara Ltd (ASX: SBM)

The St Barbara share price is roaring 7.09% higher to $1.36 despite no news out of the gold miner today.

Its shares are lifting after the spot price of gold rebounded to US$1,736.07 a tonne at the time of writing. Although the price of the yellow metal has improved 0.15% today, it's still down 4.4% in September.

Evolution Mining Ltd (ASX: EVN)

Another mover today amid the weakened ASX market is the Evolution share price, up 5.39% to $3.52.

The gold mining company is also on the receiving end of the spot price of gold picking up.

Further, analysts at Morgan Stanley raised their rating on Evolution shares to "equal weight" from the previous "underweight" outlook. The broker, however, cut the price target by 5.1% to $3.70 apiece.

Based on the current share price, this implies an upside of around 5% on Morgan Stanley's assessment.

Novonix Ltd (ASX: NVX)

The Novonix share price is also pushing ahead, up 3.86% to $7.00.

Investors appear to be bullish on the lithium company's future prospects as the sector heats up. It is worth noting that the company's shares were earlier a smidgen off their all-time high of $7.11. That price was reached on Monday.

Novonix shares have accelerated by almost 500% since the start of the year.

Which ASX 300 companies are heading south?

Pinnacle Investment Management Group Ltd (ASX: PNI)

The Pinnacle share price is down a heavy 7.82% to $16.51.

Investors are selling the company's shares despite the investment company not releasing any market sensitive announcements since its results in early August.

A catalyst for the fall can be attributed to the company's shares zooming to an all-time high of $18.60 last Friday. It appears investors have decided to take profit off the table following the broader ASX market slump.

PPK Group Ltd (ASX: PPK)

Also being weighed down by investors today is the PPK share price, down 5.59% to $16.77.

The boron nitride nanotubes (BNNT) company spun off its recently listed battery technology company, Li-S Energy (ASX: LIS).

Over the last 5 trading days, PPK shares have lost close to 15%.

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

More on Share Market News

Silhouettes of nine people climbing a steep mountain to the top at sunset, and helping each other along the way.
Share Gainers

Here are the top 10 ASX 200 shares today

ASX investors had a wild ride this Thursday.

Read more »

Two men in hard hats and high visibility jackets look together at a laptop screen at a mine site.
Gold

Down 50% in a year, time to pounce on this beaten-down ASX 200 gold stock?

A leading expert offers his verdict on this beaten-down ASX 200 gold miner.

Read more »

A view of competitors in a running event, some wearing number bibs, line up together on a starting line looking ahead as if to start a race.
Best Shares

Best ASX 200 share of each market sector in FY25

Did you own any of these ASX 200 winners in FY25?

Read more »

children and teacher in childcare education setting
Broker Notes

Why did Macquarie just re-rate G8 Education shares?

G8 Education shares are down 23% this year.

Read more »

IPO written in yellow and stuck in the air.
IPOs

End of the IPO drought: GemLife listing one of the biggest of the year

The GemLife IPO is the third major ASX listing in less than a month.

Read more »

Middle age caucasian man smiling confident drinking coffee at home.
Share Market News

Why brokers says these ASX dividend stocks are top buys for income investors

Want an income boost? Take a look at these stocks that brokers rate as buys.

Read more »

A man looking at his laptop and thinking.
Broker Notes

After crashing more than 21% yesterday, does Macquarie rate Helia shares a buy?

Should I buy the big dip on Helia shares? Here’s Macquarie’s latest share price forecast.

Read more »

Happy work colleagues give each other a fist pump.
Broker Notes

Buy this ASX 200 share that is having a 'milestone year'

Bell Potter has good things to say about this high-flying stock.

Read more »