Insights

Why City Chic, Lynas Rare Earths, Rio Tinto, & Stavely Minerals are charging higher

These ASX shares are rising on Monday…
The post Why City Chic, Lynas Rare Earths, Rio Tinto, & Stavely Minerals are charging higher appeared first on The Motley Fool Australia. –

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is fighting hard to stay in positive territory. At the time of writing, the benchmark index is up slightly to 7,396 points.

Four ASX shares that are climbing higher today are listed below. Here’s why they are charging higher:

City Chic Collective Ltd (ASX: CCX)

The City Chic share price is up 6% to $5.74. This follows the release of an announcement revealing a new acquisition and its preliminary results for FY 2021. In respect to the former, City Chic has signed an agreement to acquire online plus-sized women’s clothing marketplace Navabi for $9.6 million. As for the latter, City Chic expects to report FY 2021 EBITDA in the range of $42 million to $42.5 million. This will be 58% to 60% year on year growth.

Lynas Rare Earths Ltd (ASX: LYC)

The Lynas share price has jumped 10% to $7.08. This follows the release of the rare earths producer’s fourth quarter update. Lynas reported a 79.7% increase in fourth quarter neodymium and praseodymium (NdPr) production to 1,393 tonnes. And thanks to the almost doubling of its average realised price, this led to a significant increase in quarterly sales revenue to $185.9 million. This compares to sales revenue of $38 million a year earlier.

Rio Tinto Limited (ASX: RIO)

The Rio Tinto share price is up 2.5% to $130.29. Investors have been buying the mining giant’s shares following the release of a positive note out of Macquarie. This morning the broker retained its outperform rating and $162.00 price target on the company’s shares. It notes that current spot commodity prices mean Rio Tinto is trading with a free cash flow yield above 20%.

Stavely Minerals Ltd (ASX: SVY)

The Stavely Minerals share price has jumped 17% to 47 cents. The catalyst for this was the mineral exploration company revealing further significant results from the ongoing resource drilling program at the Cayley Lode discovery. This is part of Stavely’s 100% owned Stavely Copper-Gold Project in Victoria.

The post Why City Chic, Lynas Rare Earths, Rio Tinto, & Stavely Minerals are charging 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 May 24th 2021

More reading

The City Chic (ASX:CCX) share price has jumped 6% today. Here’s why
ASX 200 midday update: Lynas jumps, GPT withdraws guidance

Own Rio Tinto (ASX:RIO) shares? What to look for when the miner reports on Wednesday
Here’s why the Lynas (ASX:LYC) share price is on watch today
ASX 200 Weekly Wrap: Just like that… ASX back to record highs

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!