Let’s see who the biggest movers are today among ASX 300 shares.
The post Which ASX 300 shares are on the move mid-week? appeared first on The Motley Fool Australia. –
The S&P/ASX 300 Index (ASX: XKO) is in reverse today, wiping out most of this week’s gains.
At the time of writing, the ASX 300 is hovering around 7,423 points, down 0.24%. Since hitting a record high of 7,625 points on 13 August, the index has gradually been treading lower.
Let’s take a look at which shares are among the top movers on the ASX 300.
Accent Group Ltd (ASX: AX1)
The Accent share price is up an astonishing 14.63% to $2.35 despite no news from the retail group.
However, a broker note out of Morgan Stanley raised its price target on Accent shares by 8.3% to $2.60. The leading investment house also upgraded its recommendation to an overweight rating.
This has led investors to agree with Morgan Stanley’s assessment, snapping up the shares following Accent’s recent share price weaknesses.
Pilbara Minerals Ltd (ASX: PLS)
Another significant mover today is the Pilbara Minerals share price, up 9.73% to a record high of $2.48.
The lithium miner released the results from its second lithium spodumene concentrate digital auction yesterday.
Pilbara Minerals advised it intends to accept the highest bid received of US$2,240/dmt for 8,000 dmt of spodumene concentrate.
It is expected that a sales contract will be entered into within the coming days.
Paladin Energy Ltd (ASX: PDN)
Following suit, the Paladin Energy share price is up 7.63% to a multi-year high of $1.0225.
The uranium producer hasn’t provided any new releases since its full-year results late last month. That said, the spot price for uranium has soared in recent weeks on the back of positive sentiment among fund managers.
And the leading ASX shares heading south?
AGL Energy Ltd (ASX: AGL)
Continuing to fall wayside is the AGL share price, down 6.8% to $5.89.
The energy company entered into a new Otway Basin Gas Sales Agreement with Cooper Energy Ltd (ASX: COE) on Monday. This is for all developed and uncontracted volumes from the Casino, Henry and Netherby fields in the Otway Basin.
The new arrangements aren’t expected to take effect until 1 January 2022.
The sales volumes from Cooper are guided between 3.7 million Boe (barrels of equivalent) to 4.1 million Boe. Previously, the company had estimated sales in the range of 3.7 million Boe to 4.3 million Boe.
Cimic Group Ltd (ASX: CIM)
Also in decline is the Cimic share price, down 4.3% to $20.25.
The global engineering company is trading ex-dividend, hence the reason for its shares falling.
The board declared a partially-franked dividend of 42 cents apiece to be paid on 7 October 2021.
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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. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Accent Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.