Which ASX 300 shares are on the move?
The post Which ASX 300 shares are the biggest winners and losers on Tuesday? appeared first on The Motley Fool Australia. –
The S&P/ASX 300 Index (ASX: XKO) is edging slightly higher in afternoon trade, after spending the morning in the red.
At the time of writing, the ASX 300 is up 0.07% to 7,255 points. The index fell almost 3% over the last 2 trading days. Yesterday, the ASX 300 recorded its steepest one-day drop in the past 6 months.
Let’s take a look at which ASX companies are leading the charge today.
New Hope Corporation Limited (ASX: NHC)
The New Hope share price is surging 5.34% to $2.17 in early afternoon trade.
The coal miner delivered its full-year results to the market, highlighting a $337 million profit turnaround. Underpinning the robust performance has come from the strength of coal prices and a supply shortage of fossil fuels.
The board declared a fully franked final dividend of 7 cents per share to be paid to eligible shareholders on 9 November.
Champion Iron Ltd (ASX: CIA)
The Champion Iron share price is rebounding from its 12.33% heavy loss yesterday. At the time of writing, the iron ore miner’s shares are up 4.91% to $4.70.
With no market sensitive news out of the company today, it appears investors are taking advantage of the share price weaknesses.
In the past week, Champion Iron shares have fallen almost 15%, hitting a new year-to-date low of $4.35.
Whitehaven Coal Ltd (ASX: WHC)
Another strong mover for today is the Whitehaven share price, up 3.27% to $2.84.
The Australian-based coal miner’s shares have risen on the back of rising coking coal prices.
On Friday, premium hard coking coal from Queensland sold for US$379 per tonne, a new record price.
Investors are buying up Whitehaven shares as the company will be producing bumper profits for the time being.
And which ASX 300 companies are heading south?
APA Group (ASX: APA)
Sinking today is the APA share price, down 4.05% to $8.52 a pop.
The leading Australian energy infrastructure business entered into a bidding war for AusNet Services Ltd (ASX: AST). Yesterday, Brookfield Asset Management made a non-binding offer to acquire AusNet for $2.50 per share.
However, APA has upped the ante, by making a non-binding indicative proposal for $2.60 per share in cash and scrip.
Temple & Webster Group Ltd (ASX: TPW)
Also being weighed down by investors today is the Temple & Webster share price, down 4.05% to $12.31 cents.
The online furniture and homewares retailer hasn’t released any new news this week. A possible catalyst for its shares falling could be the uncertainty in the sector relating to COVID-19.
The post Which ASX 300 shares are the biggest winners and losers on Tuesday? appeared first on The Motley Fool Australia.
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Why the Whitehaven (ASX:WHC) share price is lifting on Tuesday
ASX 200 (ASX:XJO) midday update: APA makes AusNet bid, New Hope results impress
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 Temple & Webster Group Ltd. The Motley Fool Australia owns shares of and has recommended APA Group. The Motley Fool Australia has recommended Temple & Webster Group Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.