Insights

Why Centaurus Metals, IGO, Novonix, Rhinomed shares are storming higher

These ASX shares are storming higher on Friday…
The post Why Centaurus Metals, IGO, Novonix, Rhinomed shares are storming higher appeared first on The Motley Fool Australia. –

The S&P/ASX 200 Index (ASX: XJO) has returned to form on Friday and is pushing higher. At the time of writing, the benchmark index is up 0.6% to 7,411.8 points.

Four ASX shares that are climbing more than most today are listed below. Here’s why they are storming higher:

Centaurus Metals Limited (ASX: CTM)

The Centaurus Metals share price is up 11% to $1.08. Investors have been buying the mineral exploration company’s shares following the release of a positive drilling update. According to the release, its maiden regional exploration drilling has intersected significant zones of nickel sulphide mineralisation at the Tigre Prospect. Management believes this highlights the outstanding growth and upside potential across the Jaguar Project.

IGO Ltd (ASX: IGO)

The IGO share price is up 5% to $9.62. This appears to have been driven by increasingly bullish sentiment in the battery materials industry. A number of companies with exposure to clean energy materials are storming higher again on Friday. One broker that probably isn’t buying IGO shares is Credit Suisse. This morning it held firm with its neutral rating and $9.20 price target.

Novonix Ltd (ASX: NVX)

The Novonix share price is up 8% to $5.97. This battery materials company’s shares have been on fire this week after being added to the ASX 300 index at the next quarterly rebalance. In addition to this, as mentioned above, Novonix continues to benefit from bullish sentiment in the battery materials sector. The Novonix share price is up 22% this week.

Rhinomed Ltd (ASX: RNO)

The Rhinomed share price is up 16% to 43.5 cents. Investors have been fighting to get hold of its shares after it announced a deal with the Victorian government. According to the release, the Victorian Department of Health has made an initial purchase order for 1 million Rhinoswabs from the company.

The post Why Centaurus Metals, IGO, Novonix, Rhinomed shares are storming higher 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

Centaurus Metals (ASX:CTM) jumps 12% on Greenfields nickel sulphide discovery
Which ASX 300 shares are leading the way as the top movers on Friday?

Why the Rhinomed (ASX:RNO) share price is soaring 20% today
2 excellent ASX 200 (ASX:XJO) mining shares that could be buys

Novonix (ASX:NVX) share price surges again to record high, up 11% this week

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!