The S&P/ASX 200 Index (ASX: XJO) has run out of steam on Wednesday and dropped into the red. At the time of writing, the benchmark index is down 0.3% to 8,350.5 points.
Four ASX shares that are not letting that hold them back are listed below. Here's why they are rising:
Boss Energy Ltd (ASX: BOE)
The Boss Energy share price is up 1.5% to $3.10. Investors have been buying this uranium producer's shares following the release of a drilling update. Management advised that the infill drilling campaign at the Gould's Dam and Jason's satellite deposits within the Honeymoon Project in South Australia is now complete. The two deposits have combined resources of 36.7Mlbs of contained U308. This is more than the 36Mlbs that its Honeymoon project is producing under its current mining licence. Managing director, Duncan Craib, said: "These satellite deposits have the potential to drive growth as well as enabling us to leverage existing infrastructure and further capitalise on the opportunity presented by growing global demand for uranium from tier-one locations."
Emeco Holdings Ltd (ASX: EHL)
The Emeco share price is up 4% to 79.5 cents. This follows the release of a trading update at the equipment rental company's annual general meeting. Emeco revealed that it expects operating EBITDA to be at least $300 million in FY 2025. This is up from $281 million in FY 2024. The company's CEO, Ian Testrow's said: "The operating environment and business conditions remain robust with the production outlook for gold and bulk commodities remaining positive, despite weaker market conditions for nickel and lithium. We have a strong competitive advantage in the market with our rental and equipment rebuild model, along with a national footprint in the key mining regions across Australia."
Mineral Resources Ltd (ASX: MIN)
The Mineral Resources share price is up over 1.5% to $35.42. This is despite there being no news out of the embattled mining and mining services company on Wednesday. However, with its shares down sharply this year, some investors may be swooping in on the belief that they are now in bargain territory.
Plenti Group Ltd (ASX: PLT)
The Plenti share price is up 5% to 75.5 cents. This morning, this fintech lender released its half year results and revealed a 28% increase in revenue to $124.2 million. This was driven by a 17% increase in the average loan portfolio and a 9% increase in average borrower interest rates. Things were even better on the bottom line, with Plenti reporting a 260% increase in cash net profit after tax to $5.5 million.
The post Why Boss Energy, Emeco, Mineral Resources, and Plenti shares are pushing higher today appeared first on The Motley Fool Australia.
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.
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