To The Moon

As of the close on Friday, $S&P/ASX 200(XJO.AU)$ closed at 7,213.20 points, down -1.21%  in the past 5 days.

During the last 5 trading days, $Chalice Gold Mines(CHN.AU)$ $Champion Iron Ltd(CIA.AU)$ $FORTESCUE METALS GROUP LTD(FMG.AU)$ $Sandfire Resources NL(SFR.AU)$ $ORICA LIMITED(ORI.AU)$ are the top 5 Weekly gainers, up 12.37%, 8.89%, 8.69%, 8.00%, and 6.56% respectively.

$PALADIN ENERGY LTD(PDN.AU)$ $Liontown Resources Ltd(LTR.AU)$ $Core Exploration Ltd(CXO.AU)$ $Novonix(NVX.AU)$ $DOWNER EDI LIMITED(DOW.AU)$ are top 5 decliners of ASX stocks which market capital above AU$2 Bln.

Below are YTD performances and key analyses of the TOP 5 gainers:

1.$Chalice Gold Mines(CHN.AU)$ - promising drilling results

Chalice Mining is a globally recognised specialist explorer and developer with a major greenfield platinum group element (PGE), nickel, copper, cobalt and gold discovery at its Julimar Project in Western Australia.

Investors have been buying this mineral exploration company’s shares this week following the release of promising drilling results from the Julimar Complex in Western Australia.

Drilling at the greenfield Hooley Prospect, ~5km north of the current Gonneville Resource, has intersected a significant PGE-nickel-copper-cobalt-gold mineralisation.

Accroding to the data from marketscreener:

Analysts' average target price for $Chalice Gold Mines(CHN.AU)$ is 8.13 AUD.

2.$Champion Iron Ltd(CIA.AU)$ - rose with the iron demand from China's reopening

Champion Iron engages in the production of iron ore concentrate and the development and exploration of its iron ore properties.

Its stellar performance is mainly connected with a big increase in the iron ore price and China’s rising demand after pandemic-control relaxed.

On Dec. 1, iron ore futures prices in the Singapore market jumped 3% to $102.75 per tonne, a new high since Aug. 26.

Experts see renewed demand for steel as China reopens cities.

Citigroup analysts estimate that easing COVID-19 restrictions could send Iron ore as high as $150 per ton in by June 2023.

It’s reported that China is picking up large volumes of low-grade Indian iron ore in the coming weeks.

Accroding to the data from marketscreener:

Analysts average target price for $Champion Iron Ltd(CIA.AU)$ is 6.21 CAD.

3. $FORTESCUE METALS GROUP LTD(FMG.AU)$ - A $4 billion renewable energy acquisition

Fortescue Metals Group is an Australia-based company engaged in iron ore mining. The Company is engaged in development of infrastructure and mining assets.

Fortescue's share price goes higher amid a $4 billion renewable energy acquisition.  

Squadron Energy, owned by Fortescue’s founder and chair Andrew‘Twiggy’Forrest’s investment vehicle Tattarang, has snapped up CWP Renewables - Australia’s largest renewable energy investor, operator, and developer.

The company’s boss is hitting headlines following a major renewable energy acquisition.

Forrest’s privately-owned company officially bought CWP Renewables, bringing its renewable energy operating portfolio to 2.4 gigawatts. It also now boasts an Aussie development pipeline of 20 gigawatts.

Once fully operational, Squadron’s portfolio will be capable of powering 8.5 million homes.

CWP provides renewable energy to ASX 200 giants Woolworths Group Ltd , Transurban Group , and Commonwealth Bank of Australia.

Squadron beat out AGL Energy’s Tilt Renewables for the acquisition, The Australian reports.

Accroding to the data from marketscreener:

Analysts' average target price for $FORTESCUE METALS GROUP LTD(FMG.AU)$ is 10.71.

4. $Sandfire Resources NL(SFR.AU)$

Sandfire Resources Limited is an Australia-based mining and exploration company.

Sandfire Resources on Friday said it has begun a formal sale process for the DeGrussa copper-mining operation and associated exploration assets in Western Australia.

Last month, Sandfire said it was conducting a strategic review of the mine, which was discovered in 2009 and has been a cornerstone asset for the Australian company.

It’s also worth noting that Metal Tiger PLC - AIM-listed investor in natural resource opportunities - announces sale of 1.3 million shares in Sandfire Resources Ltd at AUD5.36 per share, raising approximately AUD6.9 million.

Accroding to the data from marketscreener:

Analysts' average target price for $Sandfire Resources NL(SFR.AU)$ is 5.24 CAD.

5. $ORICA LIMITED(ORI.AU)$ - won the Thayer Lindsley Award

Orica Limited is engaged in the manufacture and distribution of commercial blasting systems, including technical services and solutions, mining and tunneling support systems to the mining and infrastructure markets, and various chemical products and services.

Orica Limited announced the retirement of Non-Executive Directors, Ms. Maxine Brenner and Mr. Boon Swan Foo from the Board of Directors, effective at the completion of the 2022 Annual General Meeting on 14 December 2022.

Accroding to the data from marketscreener:

Analysts' average target price for $ORICA LIMITED(ORI.AU)$ is 16.53 AUD.

What'syour opinion towards TOP 5 stocks？

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