Why GQG, Karoon Energy, Leo Lithium, and Meteoric Resources shares are rising

These ASX shares are starting the week positively.

| More on:
a young woman raises her hands in joyful celebration as she sits at her computer in a home environment.

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

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) has given back its early gains and dropped into the red. At the time of writing, the benchmark index is down 0.2% to 7,026.6 points.

Four ASX shares that are not letting that hold them back today are listed below. Here's why they are rising:

GQG Partners Inc (ASX: GQG)

The GQG share price is up 3% to $1.51. Investors have been buying this fund manager's shares on Monday following the release of its latest funds under management (FUM) update. GQG reported FUM of $104.1 billion at the end of June, which is up 5.7% since the end of May.

Karoon Energy Ltd (ASX: KAR)

The Karoon Energy share price is up 3% to $2.04. This morning, this energy producer released an update on its Neon resource. Management revealed that successful control well drilling has reduced subsurface uncertainty and helped narrow its contingent resource estimates. This has seen 1C resources increase by 26% to 37.7MMbbl.

Leo Lithium Ltd (ASX: LLL)

The Leo Lithium share price is up 9% to $1.23. This is despite there being no news out of the lithium developer. However, its shares have been on fire recently thanks to news that it has produced its first direct shipped ore (DSO) from the Goulamina Lithium Project in Mali. On an annualised basis, the company is targeting 185,000 tonnes of DSO exports until spodumene production commences.

Meteoric Resources NL (ASX: MEI)

The Meteoric Resources share price is up 9% to 26.7 cents. This morning, this mineral exploration company released an update on the Caldeira REE Project in Brazil. That update revealed a binding option agreement to acquire significant and strategic ionic clay rare earth element (REE) rights on licences that merge crucial areas identified in the recent maiden resource estimate for the project.

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

Unsure man analysing data on laptop.
Share Gainers

Here are the top 10 ASX 200 shares today

ASX investors endured a rough day of trading this Tuesday.

Read more »

A mature-aged couple high-five each other as they celebrate a financial win and early retirement
Share Gainers

Why this ASX 300 stock is soaring 12% after a disastrous year

This company has had a dramatic reversal of fortunes this Tuesday...

Read more »

A young woman wearing overalls and a yellow t-shirt kicks one leg in the air showing excitement over the latest ASX 200 shares to hit 52-week highs
Share Gainers

Why Core Lithium, Imugene, Lifestyle Communities, and Mineral Resources shares are charging higher

These shares are having a good session. What's going on?

Read more »

A young woman smiles as she rides a zip line high above the trees.
Share Gainers

4 ASX All Ords shares up 315% to 682% in a year!

Investors have sent these ASX All Ords shares flying higher. But why?

Read more »

Man standing on rock next to turquoise salt lagoon.
Share Gainers

Here are the top 10 ASX 200 shares today

Investors enjoyed a great start to the trading week today.

Read more »

Smiling couple looking at a phone at a bargain opportunity.
Share Gainers

Why Austal, Breville, Telix, and Westgold shares are pushing higher today

These shares are starting the week positively. But why?

Read more »

A couple sits on a sofa, each clutching their heads in horror and disbelief, while looking at a laptop screen.
Share Gainers

Here are the top 10 ASX 200 shares today

Investors endured a rough Friday to close the trading week today.

Read more »

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

Why Pointsbet, Qantas, Serko, and Yandal shares are pushing higher today

These shares are avoiding the market selloff today. But why?

Read more »