In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) has followed Wall Street's lead and crashed deep into the red. At the time of writing, the benchmark index is down 1.8% to 7,821.7 points.
Four ASX shares that are not letting that hold them back are listed below. Here's why they are rising:
APA Group (ASX: APA)
The APA Group share price is up 1% to $7.52. Investors appear to have been buying this energy infrastructure company's shares during today's market selloff due to its status as a safe haven asset. The team at Ord Minnett would likely be supportive of this buying. Last month, the broker put a buy rating and $8.60 price target on its shares. This implies potential upside of 14% for investors over the next 12 months. It also expects dividend yields in the region of 8% through to at least FY 2030. This stretches the total potential 12-month return to approximately 22%.
Aurelia Metals Ltd (ASX: AMI)
The Aurelia Metals share price is up 10% to 22.5 cents. This is despite there being no news out of the gold miner on Tuesday. Though, it is worth noting that its shares have been on fire this year and this is a continuation of their upward trend. The catalyst for this has been the company's strong performance so far in FY 2025. Last month, Aurelia Metals reported a 53% increase in half-year underlying EBITDA to $49.7 million and a 949% jump in underlying net profit after tax to $15.6 million. CEO, Bryan Quinn, said: "Strategically our business remains on track to grow in the Cobar region with increasing copper equivalent production. Increasing tonnes processed at Peak from 700kt in FY25 towards 1.1-1.2mtpa will deliver significantly more cash flow and profits from our business."
Magnetic Resources (ASX: MAU)
The Magnetic Resources share price is up 4% to $1.44. This gold explorer's shares have been pushing higher this month thanks to promising drilling results. Magnetic Resources revealed that its latest drilling has defined a new most northern third 150m x 400m high-grade core which remains open at depth.
ResMed Inc (ASX: RMD)
The ResMed share price is up almost 3% to $37.42. This sleep disorder treatment company's shares were among a small group of shares that avoided the selloff on Wall Street overnight and pushed higher. Goldman Sachs would no doubt be encouraging investors to buy shares following recent weakness. Last week, the broker added ResMed's shares to its coveted conviction list with a buy rating and $49.00 price target. This implies potential upside of approximately 31% for investors between now and this time next year.
The post Why APA, Aurelia Metals, Magnetic Resources, and ResMed shares are rising today appeared first on The Motley Fool Australia.
Motley Fool contributor James Mickleboro has positions in ResMed. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group and ResMed. The Motley Fool Australia has positions in and has recommended Apa Group and ResMed. 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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