Winners and Losers: SA miners rise on resources resurgence
Anything to do with rare earths or critical minerals enjoyed a sizeable run last week, after the resources sector experienced a rally in the trading week.
Amid a solid week for Australian stocks generally, which hit record highs on Thursday before continuing the breaking with a surge on Friday, resources stocks were standouts.
Perceived easing of US President Donald Trump’s trade position, solid economic data globally and a strong start to US company profit reporting season helped eased valuation concerns for Wall Street.
Locally, surprising jobs numbers were not enough to prompt economic fears, plus calls for another Reserve Bank interest cut were amplified.
A rally in the Chinese Iron Ore futures prices (now up more than 17 per cent from April lows) and impressive quarterly production figures from BHP and RIO drove gains.
The resources run had a real impact on SA stocks with anything rare earths or broader critical minerals benefitting.
Australian Rare Earths was the week’s top Winner, up 63.33 per cent, while Resolution Minerals landed in the list too after it purchased an Antimony project in Idaho USA.
The only non-mining spike was Clever Culture Systems, which rose to the second spot on the Winners list after announcing it had sold an APAS machine to Denmark-based pharma giant Novo Nordisk (the creator of Ozempic).
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There was virtually no news driving the Losers beyond Otto Energy whose acting CEO resigned. OEL said it had commenced a search for a replacement.
The full list of Winners and Losers for the week ending July 18:
Data supplied by Baker Young Limited analysts.
