Why Hotel Properties, Meteoric, NRW, and Praemium shares are charging higher

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

| 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

The S&P/ASX 200 Index (ASX: XJO) is having a tough session on Tuesday. At the time of writing, the benchmark index is down 1.35% to 8,230.5 points.

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

Hotel Property Investments Ltd (ASX: HPI)

The Hotel Property Investments share price is up almost 3% to $3.60. This is despite the hotel property company once again reiterating that it thinks investors should reject a $3.785 per share takeover offer from Charter Hall Retail REIT (ASX: CQR) and Hostplus. It said: "This document contains the HPI Board's formal response to the Revised Offer, including our unanimous recommendation that you reject the Revised Offer and take no action in relation to any correspondence from Charter Hall Retail REIT and Hostplus."

Meteoric Resources NL (ASX: MEI)

The Meteoric Resources share price is up 5% to 10.5 cents. This morning, this rare earths explorer released an update on its Caldeira Rare Earth Ionic Clay Project. According to the release, the financial metrics of the project have improved with the inclusion of the high-grade Figueira resources into the scoping study's 20-year mine plan. In addition, it notes that rare earth element (REE) spot prices have been adjusted to include the current pricing (NdPr US$60/kg). This has resulted in a 14% increase in its pre-tax net present value to US$1,403 million and a 6% lift in pre-tax IRR to 40.4%. Management estimates that this means it now has a pre-tax payback of 2.2 years.

NRW Holdings Limited (ASX: NWH)

The NRW Holdings share price is up 1% to $3.78. Investors have been buying this mining services company's shares after it announced a major contract win. According to the release, its wholly owned subsidiary, Golding Contractors, has signed a mining services agreement (MSA) with Stanmore SMC at the South Walker Creek Mine (SWC) in Central Queensland. The MSA has a total value of approximately $1.6 billion over a five-year term. It commences in January 2026.

Praemium Ltd (ASX: PPS)

The Praemium share price is up 7% to 63.5 cents. This investment platform provider's shares are lifting off today after it released a quarterly update. Praemium revealed that its total Australian funds under administration (FUA) increased 33% to a record of $59.4 billion. Its Platform FUA also rose strongly and were up 30% to $29 billion during the three months. Praemium's CEO, Anthony Wamsteker, commented: "We are well placed for further growth with the launch of Spectrum, our next generation IDPS. Every service, and virtually every growth metric has improved from the previous quarter."

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 Praemium. The Motley Fool Australia has positions in and has recommended Hotel Property Investments. 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

Market up or down
Share Gainers

Here are the top 10 ASX 200 shares today

ASX investors had a rough end to the week...

Read more »

Man in an office celebrates at he crosses a finish line before his colleagues.
Share Gainers

4 ASX 200 shares racing ahead of the benchmark this week

ASX investors sent these four stocks soaring 12% to 18% this week. But why?

Read more »

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

Why BHP, Coronado Global, EBR Systems, and Whitehaven Coal shares are pushing higher today

These shares are ending the week on a positive note. Let's find out why.

Read more »

a young woman looks happily at her phone in one hand with a selection of shopping bags in her other hand.
BNPL shares

Up 87% since April, why the Zip share price can keep flying higher into 2026

A leading fund manager expects more outsized gains from Zip shares ahead.

Read more »

Person pretends to types on laptop drawn in sand.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a miserly session for investors today.

Read more »

Happy coal miner.
Share Gainers

Up 75% this week, why is this ASX All Ords stock rocketing again today?

Investors are piling into this ASX 300 stock on Wednesday. But why?

Read more »

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

Here are the top 10 ASX 200 shares today

It was a bountiful session for investors this hump day.

Read more »

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

Why Coronado, DroneShield, Lovisa, and Mayne Pharma shares are racing higher today

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

Read more »