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These were the best performing ASX 200 shares in December

These ASX 200 shares were on form in December…
The post These were the best performing ASX 200 shares in December appeared first on The Motley Fool Australia. –

The S&P/ASX 200 Index (ASX: XJO) was on form in December and finished a positive year with a solid monthly gain. The benchmark index rose 2.6% over the period to end at 7,444.6 points.

While a good number of shares rose with the market, some climbed more than most. Here’s why these were the best performing ASX 200 shares in December:

Pilbara Minerals Ltd (ASX: PLS)

The Pilbara Minerals share price was the best performer on the ASX 200 last month with a 26% gain. This appears to have been driven partly be a broker note out of Macquarie. According to the note, its analysts believe lithium prices could remain at record levels for four years. As a result, the broker retained its outperform rating and lifted its price target on the company’s shares to $3.70.

Mineral Resources Limited (ASX: MIN)

The Mineral Resources share price wasn’t far behind with a gain of 24.7% in December. This also appears to have been driven largely by the Macquarie broker note. Its analysts expect Mineral Resources to benefit from the strong lithium prices. In light of this, the broker retained its outperform rating and lifted its price target by 10% to a lofty $79.00. Also potentially giving its shares a lift was a recovery in iron ore prices.

Champion Iron Ltd (ASX: CIA)

The Champion Iron share price was on form last month and charged 23.9% higher during the period. As mentioned above, iron ore prices recovered during the month, which appears to have given this Canadian iron ore producer’s shares a major boost. The benchmark iron ore price rose approximately 12% in December.

Graincorp Ltd (ASX: GNC)

The GrainCorp share price was a strong performer and rose 20.9% in December. This appears to have been driven by the release of a number of bullish broker notes. One of those came from Morgans. It retained its add rating and lifted its price target to $7.90 following the release of favourable ABARES crop forecasts. GrainCorp’s shares finished the month above this price target.

The post These were the best performing ASX 200 shares in December appeared first on The Motley Fool Australia.

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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.

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