Today’s ASX top stocks: Renergen (RLT ↑8.1%), Liberty Financial Group (LFG ↑6.7%)

Posted: 28 March 2022 12:54 pm
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The 10 biggest movers on the ASX.

Top performer badges for ASX trading so far today go to Renergen (RLT, up 8.1%) and Liberty Financial Group (LFG, up 6.7%).

Top movers on the ASX Monday 28 March 2022

Renergen (RLT) was the stand-out mover on the ASX today. Shares in the company rose 8.1% to $3.86.

This was off the back of a new deal with the United States.

The company has announced negotiations with the Central Energy Fund (CEF). Both parties agreed on a term sheet which, if binding agreements are executed within the stipulated period, will see the Central Energy Fund invest ZAR1 billion (AUD$91.3 million) into Tetra4 Proprietary Limited. The major investment will see CEF take a 10% stake in Tetra4.

"Renergen and the CEF's relationship goes back many years. Importantly, during this time Renergen has successfully grown Virginia in size and scale, highlighted by the growth of both of our helium and methane reserves, which have finally reached the critical mass to enjoy CEF's involvement," said Stefano Marani, CEO of Renergen.

"Today's investment commitment is a result of long-term discussions between CEF and Renergen. During this time, the CEF team has been amazing to deal with and I am very pleased to be able to welcome them as a major investor in our future."

"I along with the Renergen Board and management team look forward to building on the strong strategic partnership with CEF as we embark on Phase 1 operations in April and establishing Virginia as a significant domestic and global gas producer," he added.

Renergen is in the energy sector.

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

The second-best mover was Liberty Financial Group (LFG), the credit services company. Its shares rose 6.7% to reach $5.10.

The company, which provides home, car and business loans, highlighted an improving balance sheet despite the current economic conditions being a challenging time for the business' customers.

"Importantly, we were able to continue helping more people with their finances during uncertain economic times," said CEO James Boyle.

LFG reported a 4% increase in its portfolio of financial assets and a significant increase in statutory NPAT. After removing non-recurring IPO expenses and non-cash amortisation, LFG also achieved growth in underlying NPATA of 4% to $122.4 million for the 6 months that ended on 31 December 2021.

Find out more about investing in Liberty Financial Group in Finder's full guide.

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The top 10 biggest movers on the ASX so far today were the following:

StockPrice% change
Renergen (RLT)$3.868.1%
Liberty Financial Group (LFG)$5.106.7%
Highfield Resources (HFR)$1.006.4%
Michael Hill International (MHJ)$1.205.3%
MMA Offshore (MRM)$0.654.8%
Metals X (MLX)$0.724.3%
Lynas Rare Earths (LYC)$10.764.1%
DDH1 (DDH)$1.044.0%
Mincor Resources NL (MCR)$2.373.9%
New Century Resources (NCZ)$1.973.7%

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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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