These two ASX shares are celebrating 2023 by hitting new 52-week highs

Since the opening bell on 3 January, the All Ords is up a healthy 1.7%.

| More on:
Rocket going up above mountains, symbolising a record high.

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

ASX shares are broadly off to a good start in 2023.

Since the opening bell on 3 January, the All Ordinaries Index (ASX: XAO) is up a healthy 1.7%.

Joining in the rally today, two ASX shares have just hit new 52-week highs.

Gold regaining its shine

The gold price edged up again overnight to US$1,859. That's the highest price the yellow metal has fetched since early June last year. And it's up almost 11% since 4 November.

That's helped most gold miners post some healthy gains. And, as you can see in the chart below, Northern Star Resources Ltd (ASX: NST) is no exception.

Created with Highcharts 11.4.3Northern Star Resources PriceZoom1M3M6MYTD1Y5Y10YALLwww.fool.com.au

The ASX gold share has soared 67% since 26 September.

Investors have been hitting the buy button amid the rising gold price and the positive outlook the miner provided in an exploration update on 15 November.

"Our exploration team has made a strong start to FY23, advancing some exciting early-stage prospects across our global tier-1 portfolio as well as expanding beyond known areas of mineralisation," managing director Stuart Tonkin said.

The Northern Star share price is up 1.8% in afternoon trading today to $11.64 per share. That's a new 52-week high for the ASX share and its highest level since November 2020.

Which brings us too…

ASX share hits new 52-week high on continuing takeover interest

The second stock marching to a new 52-week high today is Warrego Energy Ltd (ASX: WGO).

The ASX share has been the subject of a takeover battle involving Gina Rinehart's Hancock Energy Strike Energy Ltd (ASX: STX) and former suitor Beach Energy Ltd (ASX: BPT).

Today, Rinehart increased her offer for Warrego Energy by almost 29% to 36 cents per share.

That offer has sent the Warrego share price leaping 8.7% to 37.5 cents, interestingly higher than the latest takeover bid.

With today's big boost, the ASX share is trading at new 52-week highs and up a whopping 168% since 3 November.

Happy New Year!

Motley Fool contributor Bernd Struben 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 Scott Phillips.

More on 52-Week Highs

Emotional euphoric young woman giving high five to male partner, celebrating family achievement, getting bank loan approval, or financial or investing success.
52-Week Highs

5 ASX 200 shares hitting multi-year highs after strongly rebounding from tariff turmoil

These stocks have hit new price milestones amid a day in the green for the ASX 200.

Read more »

Woman laying with $100 notes around her, symbolising dividends.
52-Week Highs

Which ASX All Ords stock recently became a 10-bagger in 5 years?

Landing a 10-bagger is every investor's dream.

Read more »

Five happy friends enjoying a party.
52-Week Highs

5 ASX 200 shares smashing new 52-week highs today

The Trump tariff relief rally has helped send these five ASX 200 shares to new 52-week highs.

Read more »

Arrows pointing upwards with a man pointing his finger at one.
52-Week Highs

3 ASX All Ords shares at new 52-week highs this Friday

These shares are proving to be a safe harbour this Friday.

Read more »

An excited man stretches his arms out above his head as he reaches a mountain peak representing two ASX 200 shares reaching multi-year high prices today
52-Week Highs

These 4 ASX 200 shares just clocked new 52-week highs today

These shares are standing out from the crowd today.

Read more »

Ecstatic woman looking at her phone outside with her fist pumped.
52-Week Highs

8 ASX 300 shares hitting new price highs today

New share price records were set despite the broader market trading in the red.

Read more »

Three people jumping cheerfully in clear sunny weather.
52-Week Highs

5 ASX 200 stocks hitting new 52-week highs today

These stocks are pushing higher today despite the shaky market...

Read more »

Piggy bank rocketing.
52-Week Highs

ASX shares lifting to 52-week highs on Friday

Do you own any of today's winners?

Read more »