Why Iluka, Lithium Energy, Talga, and Woodside shares are charging higher

These ASX shares are making waves on Tuesday.

| More on:
Man drawing an upward line on a bar graph symbolising a rising share price.

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) is on form again on Tuesday. In afternoon trade, the benchmark index is up 0.9% to 7,363 points.

Four ASX shares that are climbing more than most today are listed below. Here's why they are rising:

Iluka Resources Limited (ASX: ILU)

The Iluka share price is up over 2% to $11.67. This may have been driven by a broker note out of Goldman Sachs this morning. Its analysts remain very bullish on the mineral sands company and have reiterated their conviction buy rating with a $13.70 price target on its shares.

Lithium Energy Ltd (ASX: LEL)

The Lithium Energy share price is up 3% to 91.5 cents. This follows news that this lithium developer has signed a binding agreement with Lanshen to construct a battery grade lithium plant capable of producing 3,000 tonnes of lithium carbonate per annum at the 90% owned Lithium Brine Project. Lanshen is a leading provider of direct lithium extraction (DLE) technology and plant manufacturing, with industrial-scale commercial DLE plants currently in operation.

Talga Group Ltd (ASX: TLG)

The Talga share price is up 6% to $1.37. Investors have been buying this graphite share on Tuesday after it was revealed that the European Investment Bank (EIB) board has approved 150 million euros in senior debt funding. This will be used to underpin the development of Talga's Vittangi Anode Project in Sweden.

Woodside Energy Group Ltd (ASX: WDS)

The Woodside share price is up almost 2.5% to $36.36. This morning, Woodside revealed that its board has approved the development of the large, high-quality Trion resource in Mexico. The total capital expenditure is expected to be US$7.2 billion, with Woodside's share coming to US$4.8 billion. Management sees scope for production of 100,000 barrels per day from 2028.

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 Scott Phillips.

More on Share Gainers

Ten happy friends leaping in the air outdoors.
Share Gainers

Here are the top 10 ASX 200 shares today

Investors finished the trading week on a high note this Friday.

Read more »

Happy teen friends jumping in front of a wall.
Share Gainers

4 ASX 200 shares leading the charge higher this week

Investors have been piling into these four ASX 200 shares this week. But why?

Read more »

A happy investor sits at his desk in front of his laptop and does the mexican wave with his arms to celebrate the returns from his ASX dividend shares
Share Gainers

Why Catapult, Champion Iron, Healthco, and Meeka Metals shares are pushing higher today

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

Read more »

A woman's hand draws a stylised 'Top Ten' on a projected surface.
Share Gainers

Here are the top 10 ASX 200 shares today

Investors saw another day of mild gains for the stock market this Thursday.

Read more »

Man looking happy and excited as he looks at his mobile phone.
Share Gainers

Why Champion Iron, Clarity Pharmaceuticals, St Barbara, and Woodside shares are charging higher today

These shares are having a good session today. But why are investors buying them?

Read more »

The silhouettes of ten people holding hands with their arms raised against the sky, as the sun rises or sets in the background.
Share Gainers

Here are the top 10 ASX 200 shares today

Investors panicked when the latest inflation figures came out today.

Read more »

Man drawing an upward line on a bar graph symbolising a rising share price.
Share Gainers

Why Mac Copper, Pro Medicus, Web Travel, and Yancoal shares are pushing higher today

These shares are having a good time on hump day. But why?

Read more »

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

It was a pleasant Tuesday session for ASX investors today.

Read more »