It was a disappointing month for many ASX shares, but not for all…
The post These were the 5 best performing ASX shares in November appeared first on The Motley Fool Australia. –
The All Ordinaries Index (ASX: XAO) didn’t end up having a great November. Last month, the All Ords ended up going backward for the month, losing roughly 0.7%. But that’s not to say all ASX shares had a disappointing November.
Some actually ended up having a fantastic time of it over the penultimate month of 2021. So here’s a look at the 5 best performers in November.
Top performing ASX shares last month
Calix Ltd (ASX: CXL)
Calix is our first ASX share to check out today. This materials company works in sustainable water, food, and battery technology.
Investors seemed to really get excited about this company when it announced a new patent mid-last month. This outlined a new process for producing steel from iron with zero carbon dioxide emissions. Calix shares went from $5.17 at the end of October to $6.88 by close of market on Tuesday – a gain of just over 33%.
Nickel Mines Ltd (ASX: NIC)
Nickel seemed to swing to ‘hot commodity’ status over November, and Nickel Mines was a huge beneficiary. It went from $1.05 a share at the start of the month to $1.42 by the end. That’s a gain of 35.2%.
With this one, investors seemed to get really excited when Nickel Mines announced an expanded partnership with the Chinese company Shanghai Decent. This will see Nickel Mines acquiring a 70% stake in Shanghai Decent’s Oracle Nickel Project.
Chalice Mining Ltd (ASX: CHN)
Another nickel mining company comes in at No.3 today. This nickel explorer seemed to get on investors’ radar after the company released the first mineral resource estimate for its Gonneville deposit at its Jumilar project in Western Australia.
The company reckons it is sitting on significant deposits of platinum, palladium, gold, and nickel at the site. As my Fool colleague James covered at the time, this elicited some love from broker Bell Potter. Both of these developments were probably to thank for this ASX share’s stellar month. It rose close to 50% over November, going from $6.67 a share at the start of the month to $9.97 by Tuesday afternoon.
Novonix Ltd (ASX: NVX)
Novonix was another break-neck performer over November, rising from $7.40 a share to $11.95, up 61.5% for the month.
This lithium battery company seemed to benefit from a number of positive developments, including news that it would be opening a new battery anode plant over in Tennessee, USA. It also released a well-received quarterly cash flow update in late October.
AVZ Minerals Ltd (ASX: AVZ)
Our top-performing ASX share for November goes to another mining company. AVZ Minerals is another battery-focused explorer, with a flagship lithium and tin mine in the Democratic Republic of Congo (Africa).
A number of updates over the month must have gotten investors excited here. AVZ held its annual general meeting mid-month, and also released a very well-received quarterly report in late October. This saw AVZ shares begin November at 36 cents each, and finish at 69 cents – a whopping gain of 91.67%
The post These were the 5 best performing ASX shares in November appeared first on The Motley Fool Australia.
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Motley Fool contributor Sebastian Bowen 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.