As of the close on Friday, $S&P/ASX 200(XJO.AU)$ closed at 7,788.10 on Friday, up 0.19% in the past 5 days.
1. $RED 5 LTD(RED.AU)$ +11.69%
Red 5 Limited is an Australian gold producer that operates the Darlot and King of the Hills (KOTH) gold mines.
RED stock rose 11.69% this week primarily due to record-high gold prices, reaching $2,418 per ounce, and strong quarterly performance by Red 5 Limited.
The company's consistent gold production from its King of the Hills project and potential to meet upper end of full-year production targets boosted investor confidence.
The updates show that gold production exceeds 50,000 ounces from its King of the Hills project for the fourth consecutive quarter.
2. $LIFE360 INC-CDI(360.AU)$ +11.61%
Life360 rose 11.61% this week mainly on the news of the addition of almost 5 million new users and 96,000 paying customers in Q1.
This surge in user growth, coupled with strategic measures like staff cuts and price increases for premium membership, contributed to investor optimism about the company's future revenue potential.
3. $WHITEHAVEN COAL LTD(WHC.AU)$ +9.87%
Whitehaven Coal completes acquisition of Blackwater and Daunia mines last week.
Analyst from Macquarie gave positive commentary regarding the completion of Whitehaven's acquisition and gave "outperform" rating and price target of A$9.
This acquisition significantly increases Whitehaven's exposure to metallurgical coal, with expected benefits including a 120% increase in met coal production and a 190% increase in EBITDA for the company.
4. $GOLD ROAD RESOURCES LTD(GOR.AU)$ +8.98%
Gold Road is a mid-tier Australian gold producer and explorer with a Tier 1 mine and exploration projects.
GOR stock rose this week amid record-high gold prices, which reached $2,418 on Friday. Gold, considered a safe-haven asset, was on track for its fourth consecutive week of gains.
The company also has lower-than-average P/E ratio of 15.6x compared to the market norm. Despite market challenges, Gold Road Resources has shown strong earnings growth.
5. $LIONTOWN RESOURCES LTD(LTR.AU)$ +8.82%
Liontown is an ASX100 company with a focus on battery minerals.
The stock rose 8.82% this week following a bullish outlook from ASX broker Bell Potter.
Bell Potter reaffirmed a 'speculative buy' rating on Liontown after the company secured a $550 million funding facility. This funding supported Liontown's Kathleen Valley Lithium Project, with Bell Potter raising its 12-month share price target to $1.90.
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