Why Arcadium Lithium, Magellan, Neuren, and WA1 shares are storming higher today

These shares are having a good start to the week. But why?

| More on:
A man sees some good news on his phone and gives a little cheer.

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) is on course to record a decent gain. At the time of writing, the benchmark index is up 0.5% to 8,188.4 points.

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

Arcadium Lithium (ASX: LTM)

The Arcadium Lithium share price is up 44% to $6.01. This morning, Rio Tinto Ltd (ASX: RIO) confirmed reports that it was looking to make an offer for Arcadium Lithium. It has been tight-lipped on how much it is willing to pay, but sources claim a deal in the region of US$4 billion to US$6 billion could be on the cards. A successful deal would catapult Rio Tinto into becoming the world's third-largest supplier of lithium. It commented: "Rio Tinto today confirmed that it has made an approach to Arcadium Lithium regarding a potential acquisition of Arcadium Lithium by Rio Tinto. The approach is non-binding and there is no certainty that any transaction will be agreed to or will proceed."

Magellan Financial Group Ltd (ASX: MFG)

The Magellan share price is up 5.5% to $10.14. This morning, Goldman Sachs retained its neutral rating on the fund manager's shares with an improved price target of $10.10. It commented: "Retain Neutral: Stabilising flows but persistent outflows in retail, performance track record chequered, upside risk through Barrenjoey & capital management; valuation fair."

Neuren Pharmaceuticals Ltd (ASX: NEU)

The Neuren Pharmaceuticals share price is up 3% to $14.46. Investors have been buying this pharmaceuticals company's shares following the release of an update on its meeting with the US FDA. Neuren reported positive outcomes from its End of Phase 2 Meeting with the US FDA to discuss proposals for the first ever pivotal clinical trial program in Phelan-McDermid syndrome (PMS). Neuren CEO, Jon Pilcher, said: "We are pleased with the outcomes of a very collaborative meeting with the FDA and are eager to move forward in our mission to develop NNZ-2591 as a first approved treatment for Phelan-McDermid syndrome, which has an overwhelming unmet need."

WA1 Resources Ltd (ASX: WA1)

The WA1 Resources share price is up 4% to $15.06. This follows the release of an update on the initial results from further process testwork at the 100% owned West Arunta Project in Western Australia. Managing director, Paul Savich, commented: "This refining testwork demonstrates the ability to produce a clean concentrate that will be utilised in upcoming conversion testwork, which will aim to produce a small quantity of ferroniobium end-product. We consider this another excellent outcome as we continue to progress our testwork programs."

Wondering where you should invest $1,000 right now?

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes could be the 'five best ASX stocks' for investors to buy right now. We believe these stocks are trading at attractive prices and Scott thinks they could be great buys right now...

See The 5 Stocks *Returns as of 30 April 2025

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 positions in and has recommended Goldman Sachs Group. 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

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

ASX shares finished the trading week on a high this Friday.

Read more »

A businessman stacks building blocks.
Technology Shares

6% gain! What's up with Block shares today?

Block shares are up more than 34% since 2 May.

Read more »

A young man punches the air in delight as he reacts to great news on his mobile phone.
Share Gainers

Why ARB, Block, Mayne Pharma, and Paladin Energy shares are charging higher today

These shares are having a strong finish to the week. But why?

Read more »

A woman puts her hands up as she smashes and breaks through a glass ceiling.
Share Gainers

How these 5 ASX 200 stocks are smashing the benchmark this week

These fives ASX 200 stocks have made some very happy shareholders this week. Here’s how.

Read more »

A man looking at his laptop and thinking.
Share Gainers

Here are the top 10 ASX 200 shares today

The markets lost their steam this Thursday.

Read more »

Ecstatic woman looking at her phone outside with her fist pumped.
Share Gainers

Why Catapult, Hutchinson, SKS, and West African shares are pushing higher today

These shares are having a strong session despite the market weakness.

Read more »

Rising gold share price represented by a green arrow on piles of gold block.
Gold

Up 72% in 2025, why is this ASX 200 gold stock racing ahead of the benchmark again today?

Investors are bidding up this high-flying ASX 200 gold stock again on Thursday. But why?

Read more »

Businessman smiles with arms outstretched after receiving good news.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a wonderful Wednesday session for investors today.

Read more »