These were the best performing ASX 200 shares last week

These ASX 200 shares were on form last week…
The post These were the best performing ASX 200 shares last week appeared first on The Motley Fool Australia. –

It was a mixed week for the S&P/ASX 200 Index (ASX: XJO). A pullback on Friday led to the benchmark index ending the period marginally lower at 7,392.6 points.

This couldn’t stop some ASX 200 shares from charging higher over the period. Here’s why these were the best performers on the index last week:

Lynas Rare Earths Ltd (ASX: LYC)

The Lynas share price was the best performer on the ASX 200 last week with a 14.2% gain. Investors were fighting to get hold of the rare earths producer’s shares following the release of its fourth quarter update. Lynas reported a 79.7% increase in quarterly neodymium and praseodymium (NdPr) production to 1,393 tonnes. Combined with the almost doubling of its average realised price, this led to a significant increase in quarterly sales revenue to $185.9 million. This was up materially from sales revenue of $38 million a year earlier.

Champion Iron Ltd (ASX: CIA)

The Champion Iron share price wasn’t far behind with a gain of 12.4% over the five days. This was driven by the release of an impressive first quarter update by the Canadian iron ore producer. Champion Iron more than doubled its revenue to C$545.4 million thanks to a significant increase in its average realised selling price. This ultimately led to record first quarter operating earnings of C$405.7 million, up from C$130.2 million a year earlier.


The IRESS share price was a strong performer and charged 9.3% higher last week. The catalyst for this was news that the financial technology company has received another takeover approach. According to the release, EQT Fund Management has made an unsolicited, non-binding and indicative proposal to acquire IRESS for between $15.30 and $15.50 cash per share. This represented a 22.3% to 23.9% premium to the IRESS share price at the time of the announcement. Last month IRESS rejected a $14.80 per share proposal from EQT.

OZ Minerals Limited (ASX: OZL)

The OZ Minerals share price was on form and jumped 9.3% over the period. Investors were buying the copper producer’s shares after the release of its strong second quarter update. OZ Minerals achieved copper production of 32,681 tonnes and gold production of 57,875 ounces during the three months. This led to management making positive revisions to its FY 2021 guidance. It has increased its gold production guidance and reduced its overall cash costs guidance.

The post These were the best performing ASX 200 shares last week 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 May 24th 2021

More reading

These were the worst performing ASX 200 shares last week

ASX 200 falls, NAB rises, Afterpay sinks

Here are 3 heavily traded ASX 200 shares on the markets today

ASX 200 shares in this sector pushing into record highs on Friday

The AGL (ASX:AGL) share price is down 60% in 5 years. But have the dividends paid off?

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 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!