Weekly | Will Gold’s Surge Boost Aussie Gold Stocks Like DEG and NST?
As of the close on Friday, $S&P/ASX 200(XJO.AU)$ closed at 7646.50 on Friday, down 0.28% in the past 5 days.
1. $Zip Co Ltd(ZIP.AU)$ +15.56%
Zip's shares rose following the announcement of a A$50 million buyback plan, reflecting its strategy to capitalize on favorable market conditions, after reporting strong financial growth in its digital retail finance and payments operations.
State Street Corporation have gained significant voting power in Zip, potentially influencing its strategy and governance.
Zip issued 144,501 unquoted performance rights under its employee incentive scheme to align staff interests with company goals and boost efficiency.
2. $DE GREY MINING LTD(DEG.AU)$ +15.21% and $NORTHERN STAR RESOURCES LTD(NST.AU)$ +13.53%
Gold prices hit a fresh high on the back of uncertainty caused by the escalating trade war between the US and China. Spot gold was last trading at US$3,209 an ounce, according to Bloomberg data, having climbed more than 3% in US.
Gold miners made up all 10 of the best performing ASX 200 stocks, De Grey Mining led the rally, Northern Star Resources was also up as the ASX 200 index dropped.
UBS Group have raised their voting power in De Grey Mining from 5.18% to 6.42%, signaling a potential influence on the company's operations and strategic direction.
3. $BOSS ENERGY LTD(BOE.AU)$ +14.35%
Boss Energy continues to make excellent progress on its global uranium development strategy, with its Honeymoon project in Australia and Alta Mesa asset in Texas leading the way.
The improved production rates have allowed enCore to accelerate its contract delivery requirements from August to May 2025, highlighting the project’s operational success and potential positive impact on stakeholders.
With $252 million in cash and liquid assets and no debt, Boss is well placed to further support the ramping-up of production.
4. $NETWEALTH GROUP LTD(NWL.AU)$ +13.21%
Netwealth Group has experienced an impressive stock price surge following its record-breaking performance for the March 2025 quarter. The company reported Funds Under Administration (FUA) net flows of $3.5 billion, marking a 29% increase from the previous year.
Netwealth was one of the best performing companies on the ASX 200 index, Its shares were up more than 25% over the last 12 months.
Citi analyst elevated the rating of Netwealth Group from Neutral to Buy.
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