Here are the top movers on the ASX 300 today

The ASX 300 is slumping again…
The post Here are the top movers on the ASX 300 today appeared first on The Motley Fool Australia. –

The S&P/ASX 300 Index (ASX: XKO) is continuing its poor run with consecutive days in negative territory.

During early afternoon trade, the ASX 300 is down 0.53% to 7,457 points. This means that over the course of the past 4 days, the ASX 300 has shaved off 2%.

Let’s take a look at which ASX companies are the biggest movers today.

Chorus Ltd (ASX: CNU)

The Chorus share price is having a day out today, rocketing 13.4% to $6.85 after touching a high of $7.01 this morning. This comes after the New Zealand Commerce Commission released a draft decision proposing an initial regulated base asset (RAB) for Chorus’ fibre business.

Investors appear to be excited about the latest update. The company is aiming to ensure the final RAB reflects the full costs of its structural separation with the government.

Australian Strategic Materials Ltd (ASX: ASM)

The Australian Strategic Materials share price is advancing 10.05% to an all-time high of $12.105. With no news out of the company, investors are buying up its shares as the hype around rare earths continues.

Rare earth elements are critical in the making of high technology devices such as smart phones, computers and TVs. In addition, they are used in defence industries to construct aircraft, ships, and high-tech ground vehicles.

Netwealth Group Ltd (ASX: NWL)

Another significant mover today is the Netwealth share price, up 9.69% to $15.62. While its shares fell 4.81% yesterday, it appears investors are taking advantage of the share price weaknesses. This comes after a number of brokers rated the Australian superannuation and fintech firm with a positive outlook.

Ord Minnett raised its price target for Netwealth shares by 9.4% to a bullish price of $17.50. Based on the current share price, this implies an upside of around 11%.

And the biggest fallers?

Mineral Resources Ltd (ASX: MIN)

Heading south is the Mineral Resources share price, down a sizeable 7.63% to $51.63. A possible catalyst could be a drop in the iron ore spot price, which has shed almost 2.17% to US$157.50 per tonne. Over the past month, the steel-making ingredient has lost almost 30%.

BHP Group Ltd (ASX: BHP)

Also weighed down by the iron ore price slump is the BHP share price. The mining giant’s shares are sinking 6.73% to $44.49. It’s worth noting that the company’s shares have fallen more than 15% in the last week, despite delivering a sound FY21 result.

The post Here are the top movers on the ASX 300 today appeared first on The Motley Fool Australia.

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 more than eight 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. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.

*Returns as of August 16th 2021

More reading

BHP (ASX:BHP) share price slides 7% to a 5-month low
The Mineral Resources (ASX:MIN) share price is down 8% on Thursday
ASX 200 midday update: Treasury Wine results, Origin’s $2bn loss, Star impresses

What you need to know about the BHP (ASX:BHP) dividend dates in 2021
2 quality ASX dividend shares analysts rate as buys

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Netwealth. The Motley Fool Australia owns shares of and has recommended Netwealth. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;

To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.

An active and funded account with a positive trading balance is required to continue to have access to the tools;

Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;

Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!