Which ASX 300 shares are leading the way mid-week?

Which ASX 300 shares are on the move during Wednesday trade?
The post Which ASX 300 shares are leading the way mid-week? appeared first on The Motley Fool Australia. –

The S&P/ASX 300 Index (ASX: XKO) is edging lower today, continuing the disappointing run on this week’s 0.54% loss.

At the time of writing, the ASX 300 is hovering 0.06% lower to 7,278.9 points. This means the index is now down by more than 2% in a month.

Let’s take a look at the biggest winners and losers on the ASX 300 today.

Paladin Energy Ltd (ASX: PDN)

The Paladin share price is roaring 20.68% higher to 88.7 cents amid the company’s release of its sustainability report.

The company noted that its Langer Heinrich Mine in Namibia is progressing towards restarting production. In addition, it is engaging with global nuclear energy utilities to secure long-term contracts.

Overnight, the Global X Uranium Exchange Traded Fund (ETF) jumped 11.65% to US$26.92. This has also led to other industry players in the uranium sector experiencing sharp and sudden increases in their share prices.

The a2 Milk Co Ltd (ASX: A2M)

Another mover today is the A2 Milk share price, up 13.45% to $6.58.

The infant formula company is on the receiving end of smaller rival Bubs Australia Ltd (ASX: BUB)’s latest news.

Bubs reported earlier today that it achieved a 96% year-on-year increase in gross revenue to $18.5 million for Q1 FY22. Investors appear to believe that the struggling industry has brighter days ahead following the severe impact COVID-19 had.

Energy Resources of Australia Ltd (ASX: ERA)

The Energy Resources share price is also pushing ahead, up 11.54% to 43.5 cents.

The mineral exploration and production company announced its quarterly update early yesterday morning. It advised that no production of uranium oxide occurred over the 3-month period ending 30 September.

Energy Resources stated it will continue to sell down its stocks of uranium oxide. Expected contract sales are estimated to come in at 1.37 million pounds in 2021.

Which ASX 300 companies are heading south?

Pact Group Holdings Ltd (ASX: PGH)

The Pact Group share price is down a heavy 12.79% to $3.00.

Investors are selling the packaging company’s shares after Pact Group provided a sale update on its contract manufacturing businesses.

The company said that it terminated the deal as it was perceived to be under unfavourable terms. In addition, a brief trading update was attached to its update.

Bank of Queensland Ltd (ASX: BOQ)

Also being weighed down by investors today is the Bank of Queensland share price, down 4.94% to $9.24.

The regional bank released its full-year results for the 2021 financial year.

While its numbers reported growth across the board, investors have been focused on the company’s near-term outlook.

Management advised its net interest margin is forecast to fall by up to 7 basis points in FY22. Bank of Queensland blamed increased competition and the low interest rate environment for the decline.

The post Which ASX 300 shares are leading the way mid-week? appeared first on The Motley Fool Australia.

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More reading

Why Bank of Queensland, Fortescue, Liontown, & Pact shares are dropping

Why A2 Milk, EOS, GUD, & PointsBet shares are charging higher

Star Entertainment (ASX:SGR) share price surges despite police probe
ASX 200 (ASX:XJO) midday update: BOQ results, A2 Milk shares jump

Here’s why ASX uranium shares are booming double digits across the board on Wednesday

Motley Fool contributor Aaron Teboneras owns shares of A2 Milk. 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 recommended A2 Milk. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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