Winners and Losers: Chrysos reverses losses, resources under pressure
Mining tech firm Chrysos almost reversed its monthly stock market losses within the space of a week, but resources firms were under pressure on soft economic data internationally.
Chrysos Corporation has reversed its fortunes over the past few trading days. Photo: Chrysos Corporation.
Soft economic data from regional superpower China meant pressure for resources stocks this week, pushing the likes of Power Minerals, Whitebark Energy, Australian Rare Earths Limited and more into the Losers list.
But mining tech outfit Chrysos – one of April’s biggest Losers – enjoyed a strong week to nearly reverse its monthly stock market losses.
The company posted no news but rose by 20.76 per cent to reach $5.70 per share. Over the past year, shares in Chrysos are up 22.06 per cent.
Oakridge landed in the top Winners spot during a quiet late-June trading week, rising by 25.35 per cent.
Axiom relied on thin trading volume to rise by 17.86 per cent, while Rex Minerals presented at a copper conference in Adelaide on Wednesday and jumped up 11.90 per cent.
There was little news from this week’s Losers list too, which was led by Iondrive following a 25 per cent drop in value of its shares over the week.
Australian Rare Earths announced a shallow rare earth discovery but that did little to excite the market.
Instead, it suffered a 20 per cent drop, suffering a similar fate as other large and small new energy stocks.
Terramin Australia rounded out the five Losers for the week, despite posting no news.
The full list of Winners and Losers for the week ending 21 June:
Data via Baker Young Limited analysts.
