Why these two Aussie miners in different industries are on fire right now
The post Here are 2 ASX mining shares up 25% in the past month appeared first on The Motley Fool Australia. –
Of course, investors need to be comparing apples to apples when analysing the resources sector. That’s because underlying commodity prices can have an enormous impact on valuations at any given point.
Having said that, there are two ASX mining shares worth watching right now. That’s because both of these companies have seen their market values surge more than 25% in the past month.
2 ASX mining shares up 25% in the past month
1. Whitehaven Coal Ltd (ASX: WHC)
The Whitehaven Coal share price has climbed 32.3% higher in the past month. Shares in the Aussie coal miner have been charging higher on the back of strong coal prices in China.
Premium hard coking coal prices are climbing, according to Fastmarkets MB, which comes after a weaker than expected full-year result for Whitehaven.
Whitehaven reported a 9.3% drop in revenue to $1.56 billion in FY21 and a net loss after tax before significant items of $87.3 million.
However, the recent surge in coal prices is boosting the ASX mining share higher right now.
2. Alumina Limited (ASX: AWC)
It’s not just coal that’s doing well at the moment. Alumina shares have climbed 25% higher in the past month despite no recent announcements from the alumina refinery and bauxite mining investor.
Perhaps unsurprisingly, a strong rally in alumina prices is helping drive the latest gains. According to Fastmarkets MB, alumina prices surged 10% on Thursday, September 9 to their highest point since April 2019.
Freight disruptions and tightening supply have helped boost prices which is good news for the ASX mining share. Alumina owns a 40% stake in the Alcoa World Alumina and Chemicals (AWAC) joint venture alongside global aluminium heavyweight Alcoa Corp (NYSE:AA).
The Alumina share price is on the tear right now and is having a solid run in August and September.
The post Here are 2 ASX mining shares up 25% in the past month appeared first on The Motley Fool Australia.
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Motley Fool contributor Ken Hall 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 Bruce Jackson.