Today’s ASX top stocks: Sovereign Metals (SVM ↑18.3%), 3P Learning (3PL ↑12.9%)

Posted: 5 April 2022 1:14 pm
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The 10 biggest movers on the ASX.

The best performing companies on the ASX so far today were Sovereign Metals (SVM, up 18.3%) and 3P Learning (3PL, up 12.9%).

Largest gains on the ASX Tuesday 5 April 2022

Sovereign Metals (SVM) was the top mover on the ASX today. Shares in the company rose 18.3% to $0.71.

Shares in Sovereign Metals soared today following its latest announcement to the ASX. The company said it found the world's largest rutile deposit and the second-largest graphite deposit.

The company notes that there will be a potentially higher-grade throughput, which will increase the life of the site. At the same time, Sovereign Metals says that it is targeting a large-scale, low-carbon-footprint and environmentally sustainable natural rutile and graphite operation. This will positively impact the environmental footprint of titanium pigment and other industries and provide a significant contribution to the economy of Malawi.

Sovereign's managing director Dr Julian Stephens commented:

"It is a really remarkable achievement by our team to have made the largest natural rutile discovery ever in just 2 years since initial identification. The Joint Ore Reserves Committee (JORC) Mineral Resource Estimate (MRE) of this scale and grade is clearly highly strategic, tier 1 and of global significance in a market where natural rutile is in an extreme supply deficit."

Sovereign Metals is part of the materials sector.

Learn more about investing in Sovereign Metals in Finder's full guide.

The second-best mover was 3P Learning (3PL), the consumer services company.

Its shares rose 12.9% to reach $1.75.

3PL has not made an announcement to the market.

Find out more about investing in 3P Learning in Finder's full guide.

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These were the 10 biggest movers on the ASX so far today:

StockPrice% change
Sovereign Metals (SVM)$0.7118.3%
3P Learning (3PL)$1.7512.9%
Weebit Nano (WBT)$2.9912.8%
Navigator Global Investments (NGI)$1.7811.9%
Sunrise Energy Metals (SRL)$2.6610.8%
Whispir (WSP)$2.0210.4%
Incannex Healthcare (IHL)$0.545.9%
Temple & Webster Group (TPW)$7.025.6%
Michael Hill International (MHJ)$1.175.4%
Ampol (ALD)$31.955.1%

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Each weekday we round up the best performing stocks on the Australian Securities Exchange (ASX), ranked by price percentage from market open to 11am. To avoid higher price volatility we only include stocks with market caps of more than $200 million. Price changes are calculated by 11am on the trading day, but these prices may be subject to minor variation depending on data availability.

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Disclaimer: This information should not be interpreted as an endorsement of futures, stocks, ETFs, CFDs, options or any specific provider, service or offering. It should not be relied upon as investment advice or construed as providing recommendations of any kind. Futures, stocks, ETFs and options trading involves substantial risk of loss and therefore are not appropriate for all investors. Trading CFDs and forex on leverage comes with a higher risk of losing money rapidly. Past performance is not an indication of future results. Consider your own circumstances, and obtain your own advice, before making any trades.

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