Today’s ASX top stocks: Stanmore Coal (SMR ↑40.0%), De Grey Mining (DEG ↑12.9%)

Posted: 7 March 2022 12:49 pm
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Stock-up-07March_1800x1000_Finder

The 10 biggest movers on the ASX.

The best performing stocks on the ASX so far today were Stanmore Coal (SMR, up 40.0%) and De Grey Mining (DEG, up 12.9%).

Top movers on the ASX Monday 7 March 2022

Stanmore Coal (SMR) was the dominant mover on the ASX today.

Shares in the company rose 40.0% to $1.75.

Shares in Stanmore Coal have soared after the company announced its 7 for 3 pro rata entitlement offer.

Under the institutional agreement, Stanmore Coal is set to raise $694 million.

Commenting on the success of the Institutional Entitlement Offer, managing director Marcelo Matos said:

"The overwhelming support for the offer from both existing shareholders and new investors is a real endorsement of the value of the proposition offered by the BMC acquisition and the enlarged Stanmore business. Stanmore is excited to welcome some significant new Australian and international investors to its register."

Stanmore Coal operates in the energy sector.

Learn more about investing in Stanmore Coal in Finder's full guide.

The second-best mover was De Grey Mining (DEG), the materials company.

Its shares rose 12.9% to reach $1.31.

Find out more about investing in De Grey Mining in Finder's full guide.

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Here's a fuller list of the biggest movers on the market so far today.

StockPrice% change
Stanmore Coal (SMR)$1.7540.0%
De Grey Mining (DEG)$1.3112.9%
Deep Yellow (DYL)$0.8711.5%
Allegiance Coal (AHQ)$0.5510.0%
Jervois Mining (JRV)$0.809.6%
Coronado Global Resources (CRN)$2.008.7%
Woodside Petroleum (WPL)$33.526.7%
Alkane Resources (ALK)$1.126.7%
Highfield Resources (HFR)$0.806.7%
New Hope Corporation (NHC)$3.036.3%

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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.

Need a better share trading platform? Check out Finder's full review of the best online brokers in Australia right now.

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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