ASX market movers: Eagle Mountain Mining, Pointerra

Posted: 17 May 2021 4:20 pm
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The 10 biggest movers on the ASX today.

Largest gains on the ASX Mon 17 May 2021

Copper and gold mining company Eagle Mountain Mining (EM2) was the largest mover on the ASX today.

Shares in Eagle Mountain Mining rose 17% to $1.10.

Australian-listed gold stocks rose across the board Monday after data out of the US showed retail sales stalled in April.

"The price of gold tends to rise when economic conditions become less certain," said Finder's investments editor Kylie Purcell.

"When that happens, the price of shares in gold drilling companies like Eagle Mountain Mining also goes up as we saw today. That being said, the company has also recently released a promising activities report for the March quarter a few weeks ago that saw its share price rise 13%."

Gold giants Newcrest Mining (NCM) and Northern Star (NST) also rose more than 2% during Monday's session to hit their highest points in over three weeks.

Eagle Mountain Mining is a mining exploration company in the copper, gold, silver, and porphyry copper space.

Learn more about investing in Eagle Mountain Mining in Finder's full guide.

Another strong performer was Pointerra (3DP), the software & services company. Pointerra develops 3D geospatial data technology.

It rose 13% to close at $0.56.

"Pointerra's share price has been on a rollercoaster these last few weeks as a number of company updates are made public," said Finder's investments editor Kylie Purcell.

"Although 3DP shares jumped sharply on Monday, its price is still down around 25% since the end of April."

On April 30, news that Pointerra was acquiring US done firm Airovant sent its stock price falling by more than 10% in a day.

Learn more about investing in Pointerra in Finder's full guide.

The top 10 biggest movers on the ASX today were:

StockClose% change
Eagle Mountain Mining (EM2)$1.1017.02%
Pointerra (3DP)$0.5613.00%
Resolute Mining (RSG)$0.6310.50%
De Grey Mining (DEG)$1.449.90%
Bellevue Gold (BGL)$0.909.80%
Betmakers Technology Group (BET)$1.429.20%
Novonix (NVX)$2.078.90%
Alkane Resources (ALK)$0.888.60%
Telix Pharmaceuticals (TLX)$4.158.40%
Ramelius Resources (RMS)$1.887.76%

Market indicators Mon 17 May 2021

Overall, the S&P/ASX200 closed up Monday, gaining 9.40 points (0.13%) to 7,023.60.

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

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