Insights

Why the Queensland Pacific Metals (ASX:QPM) share price is jumping today

The Queensland Pacific Metals Ltd (ASX: QPM) share price is having a top day today, rising 20% to 12 cents a share. Here are the details
The post Why the Queensland Pacific Metals (ASX:QPM) share price is jumping today appeared first on The Motley Fool Australia. –

rising asx share price represented by woman jumping in the air happily

The Queensland Pacific Metals Ltd (ASX: QPM) share price is jumping today, up 19% at the tie of writing to 12 cents a share. Queensland Pacific opened at 11 cents this morning before rocketing as high as 13 cents early in morning trade. Today’s move is just the latest in what has been a very successful year for the company. AS recently as July 2020, Queensland Pacific Metals was trading at a price of 1 cent a share, meaning the company has rocketed more than 1,000% over the past 10 or so months. Even just in 2021 so far, the company is up around 200%.

So why are Queensland Pacific Metals shares jumping today?

Queensland Pacific Metals share price gains

There have been a few recent developments that are likely to be feeding into Queensland Pacific Metals shares today. Firstly, a fortnight ago, the company announced that it had managed to produce battery-grade nickel sulphate. As my Fool colleague Brooke reported at the time, Queensland Pacific stated that the results managed to adhere to the highest battery specification standards. That news sent Queensland Pacific shares up 15% at the time.

But we have some fresh news today as well.

Queensland Pacific Metals released an ASX announcement before the market opened this morning. This announcement heralded the appointment meant of James (Jim) Simpson as a non-executive director of Queensland Pacific Metals, effective 1 May. Mr Simpson reportedly has more than 30 years of experience in the resources sector, including a stint at Aurelia Metals Ltd (AX: AMI). He has most recently worked as executive director for Peel Mining Ltd (ASX: PEX).

Queensland Pacific chair Eddie King had this to say on the appointment:

I am delighted that someone of Jim’s calibre has chosen to join the Board of QPM. Jim brings with him a wealth of resources and corporate experience and has a detailed understanding of what is required when taking a resources project through its technical feasibility and funding/development phases and ultimately into production. I look forward to working with Jim during this period and beyond.

Judging by the performance of the Queensland Pacific share price today, the market agrees with these sentiments. At the current pricing, Queensland Pacific Metals has a market capitalisation of $140 million.

Where to 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 are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

See The 5 Stocks

*Returns as of February 15th 2021

More reading

Motley Fool contributor Sebastian Bowen 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.

The post Why the Queensland Pacific Metals (ASX:QPM) share price is jumping today appeared first on The Motley Fool Australia.

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!