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ASX April Winners: Mid and small caps outperform blue-chip peers as gold stocks keep up rally
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- The S&P ASX 200 finished up 1.85% in April while mid and small caps outperformed their blue-chip peers
- Real estate topped the winning sectors for the month while tech stocks also rallied strongly in April
- Gold stocks continued solid run in April as price of precious metal ends month just shy of US$2000/0z
The S&P ASX 200 gained 1.85% in April, extending its YTD gain to 5.38%. Mid and small caps outperformed their blue-chip peers with the S&P ASX MidCap 50 and the S&P ASX Small Ordinaries gaining 3.5% and 2.8%, respectively.
While the S&P ASX MidCap 50 is up for YTD the S&P ASX Small Ordinaries and S&P ASX Emerging Companies indices still have some catch up to do four months into 2023, according to S&P Dow Jones Indices.
S&P ASX 200 Real Estate was the best performing sector in April, up 5.1%, while Aussie tech stocks also had a solid month, rising 4.82%, even outdoing the tech-heavy NASDAQ, which despite some solid rises from individual heavyweights rose 0.83% for the month.
Materials was the only sector that finished the month in the red, down 2.6%.
Australian equity factor indices closed in the black for April with value stocks coming out on top, up 3.8%. However, at the other end of the spectrum, growth stocks barely budged, up just 0.1% for the month. Fixed income enjoyed another strong month in Australia with corporate bonds performing best.
In a further sign investors are feeling optimistic after inflation fell and the Reserve Bank of Australia (RBA) paused interest rate hikes in April, the Australian equity implied volatility also sank further, with the S&P/ASX 200 VIX Index closing the month at 12, one point below its level at the end of March.
Headline consumer price index (CPI) for the first three months of 2023 came in at an annual rate of 7%, according to the latest Australian Bureau of Statistics figures, down from the 7.8% recorded figure for the December quarter.
After 10 consecutive rate hikes to tame sticky inflation, April was the first time the RBA hit the pause button. The official cash rate remains at 3.60% with speculation that the RBA will leave rates on hold for the second month when it meets for its May meeting later today.
Here are the 50 best performing ASX stocks for April:
Scroll or swipe to reveal table. Click headings to sort.
| CODE | COMPANY | LAST SHARE PRICE | APRIL RETURN % | MARKET CAP |
|---|---|---|---|---|
| WMG | Western Mines | 0.7 | 324% | $38,845,560 |
| 4DX | 4Dmedical Limited | 0.845 | 156% | $252,106,031 |
| ALA | Arovella Therapeutic | 0.075 | 127% | $59,767,258 |
| LRV | Larvotto Resources | 0.32 | 121% | $18,495,049 |
| WOA | Wide Open Agriculture | 0.325 | 117% | $42,016,576 |
| IGN | Ignite Ltd | 0.073 | 109% | $6,539,499 |
| BEZ | Besra Gold | 0.2175 | 107% | $81,388,234 |
| OLL | Openlearning | 0.033 | 106% | $8,839,679 |
| KEY | KEY Petroleum | 0.002 | 100% | $3,935,856 |
| CHR | Charger Metals | 0.49 | 96% | $20,545,753 |
| BRX | Belararox | 0.36 | 89% | $14,219,107 |
| ODA | Orcoda Limited | 0.27 | 80% | $40,953,482 |
| EML | EML Payments Ltd | 0.725 | 79% | $269,268,573 |
| OD6 | OD6 Metals | 0.31 | 77% | $18,155,114 |
| 8IH | 8I Holdings Ltd | 0.046 | 77% | $16,438,376 |
| APC | Aust Potash Ltd | 0.03 | 76% | $31,160,334 |
| WA1 | WA1 Resources | 1.795 | 74% | $63,881,063 |
| AQC | Auspac Coal Ltd | 0.16 | 74% | $53,833,198 |
| LIN | Lindian Resources | 0.4 | 74% | $380,796,636 |
| SMN | Structural Monitor | 0.79 | 74% | $100,634,720 |
| FBM | Future Battery | 0.115 | 72% | $49,202,190 |
| W2V | Way2Vat | 0.013 | 69% | $2,421,671 |
| MDX | Mindax Limited | 0.185 | 68% | $418,827,029 |
| IXU | IXUP Limited | 0.045 | 67% | $45,561,678 |
| AMD | Arrow Minerals | 0.005 | 67% | $15,118,825 |
| DAF | Discovery Alaska Ltd | 0.05 | 67% | $9,866,327 |
| AR3 | Austrare | 0.36 | 64% | $35,290,586 |
| SLA | Silk Laser Australia | 3.03 | 62% | $161,488,378 |
| HMX | Hammer Metals Ltd | 0.084 | 62% | $66,533,995 |
| MTM | Mt Monger Resources | 0.16 | 60% | $15,462,572 |
| PIL | Peppermint Inv Ltd | 0.008 | 60% | $14,264,998 |
| NVU | Nanoveu Limited | 0.035 | 59% | $10,178,108 |
| RXH | Rewardle Holding Ltd | 0.027 | 59% | $12,631,716 |
| LDR | Lode Resources | 0.365 | 59% | $21,238,158 |
| IPX | Iperionx Limited | 1.125 | 58% | $195,972,636 |
| RDT | Red Dirt Metals Ltd | 0.455 | 57% | $206,974,983 |
| TYX | Tyranna Res Ltd | 0.025 | 56% | $60,160,633 |
| ICE | Icetana Limited | 0.053 | 56% | $9,966,421 |
| ADD | Adavale Resource Ltd | 0.017 | 55% | $8,831,944 |
| EX1 | Exopharm Limited | 0.02 | 54% | $2,987,019 |
| IDT | IDT Australia Ltd | 0.089 | 53% | $20,691,193 |
| LLI | Loyal Lithium Ltd | 0.32 | 52% | $19,036,800 |
| FYI | FYI Resources Ltd | 0.105 | 52% | $36,631,759 |
| ONE | Oneview Healthcare | 0.094 | 52% | $43,744,308 |
| IVR | Investigator Res Ltd | 0.062 | 51% | $91,978,881 |
| ATC | Altech Batt Ltd | 0.1175 | 51% | $142,676,587 |
| GRV | Greenvale Energy Ltd | 0.135 | 50% | $57,506,862 |
| BPP | Babylon Pump & Power | 0.006 | 50% | $17,204,399 |
| CYQ | Cycliq Group Ltd | 0.009 | 50% | $3,127,650 |
| FFT | Future First Tech | 0.03 | 50% | $21,295,097 |
ASX gold stocks continued to have a solid run in April. Stockhead’s Reuben Adams described April as a volatile month for the investor safe haven, which made two aborted attempts at record territory (+US$2070/oz) before running out of steam.
Gold ended the month bobbing away just shy of the psychologically important US$2000/oz mark. In Aussie dollar terms Adams described gold as having had a blinder in April, easily surpassing $3000/oz several times.
Topping the winners list for April was gold and nickel explorer Western Mines (ASX:WMG), which announced last week that drill hole MTD026 at its Mulga Tank nickel project is currently at ~400m depth “with significant examples of disseminated and remobilised nickel sulphides observed in top 250m.”
The top 250m on this hole appears to contain some of the richest shallow sulphide mineralisation seen so far, WMG managing director Dr Caedmon Marriott said.
The shallow mineralised footprint at Mulga Tank is now ~3.2km long, and “multiple deposits may well be expected given the scale of this clearly well mineralised system.”
Larvotto Resources (ASX:LRV) performed solidly in April after reporting high grade clay rare earths drill results up to 1.26% (12,611ppm) at the Merivale South prospect, part of the Eyre lithium-nickel-REE project in WA.
That 1m intercept was within a larger 12m at 2326ppm TREO. LRV said the mineralisation may be hosted within ionic clays, making it suitable for simple, cost-effective extraction.
The explorer is focused on discovering “multiple in-demand commodities” including copper, gold, cobalt, PGE and lithium.
Besra Gold (ASX:BEZ) continued its upward trajectory in April and has now risen more than ~450% since signing a $US300m non-binding offtake and funding deal with bullion dealer and major shareholder Quantum Metal Recovery Inc in March.
The cash – paid over 30 months against future production ounces — would cover development of its 3Moz ‘Bau’ project in Malaysia’s Sarawak region.
Here are the 50 worst performing ASX stocks for April:
Scroll or swipe to reveal table. Click headings to sort.
| CODE | COMPANY | LAST SHARE PRICE | APRIL RETURN % | MARKET CAP |
|---|---|---|---|---|
| ACS | Accent Resources NL | 0.007 | -72% | $3,311,891 |
| SCU | Stemcell United Ltd | 0.005 | -62% | $6,423,649 |
| GFN | Gefen Int | 0.02 | -50% | $1,362,003 |
| G1A | Galena Mining | 0.115 | -49% | $80,500,596 |
| HVM | Happy Valley | 0.026 | -48% | $5,874,818 |
| TIG | Tigers Realm Coal | 0.007 | -46% | $78,400,214 |
| KED | Keypath Education | 0.475 | -46% | $113,271,668 |
| BFC | Beston Global Ltd | 0.013 | -43% | $27,958,656 |
| GGE | Grand Gulf Energy | 0.013 | -43% | $19,922,964 |
| RCW | Rightcrowd | 0.017 | -43% | $4,474,261 |
| GNM | Great Northern | 0.002 | -43% | $3,418,102 |
| FTC | Fintech Chain Ltd | 0.015 | -42% | $9,761,544 |
| AHN | Athena Resources | 0.003 | -40% | $4,281,870 |
| LDX | Lumos Diagnostics | 0.018 | -40% | $4,648,141 |
| LVH | Livehire Limited | 0.085 | -39% | $30,204,057 |
| NGS | NGS Ltd | 0.017 | -39% | $2,521,227 |
| HLF | Halo Food Co. Ltd | 0.011 | -39% | $4,408,467 |
| NOX | Noxopharm Limited | 0.059 | -38% | $17,534,277 |
| TSI | Top Shelf | 0.43 | -38% | $37,876,290 |
| CYP | Cynata Therapeutics | 0.175 | -38% | $28,234,925 |
| ELT | Elementos Limited | 0.15 | -38% | $30,331,747 |
| HHI | Health House Int Ltd | 0.005 | -38% | $891,123 |
| LAW | Lawfinance Ltd | 0.005 | -38% | $319,338 |
| CLT | Cellnet Group | 0.016 | -36% | $3,897,514 |
| CTN | Catalina Resources | 0.0045 | -36% | $5,573,191 |
| KSS | Kleos | 0.1 | -35% | $20,992,786 |
| NXM | Nexus Minerals Ltd | 0.1025 | -34% | $35,799,864 |
| 8VI | 8Vi Holdings Limited | 0.45 | -34% | $19,071,640 |
| 1ST | 1St Group Ltd | 0.006 | -33% | $8,121,200 |
| AVE | Avecho Biotech Ltd | 0.006 | -33% | $9,189,347 |
| BTC | BTC Health Ltd | 0.018 | -33% | $4,227,695 |
| CCE | Carnegie Cln Energy | 0.001 | -33% | $15,642,574 |
| CLZ | Classic Min Ltd | 0.001 | -33% | $5,426,262 |
| GBE | Globe Metals &Mining | 0.056 | -33% | $28,885,816 |
| IS3 | I Synergy Group Ltd | 0.01 | -33% | $2,890,804 |
| MTB | Mount Burgess Mining | 0.002 | -33% | $2,649,513 |
| XTC | Xantippe Res Ltd | 0.003 | -33% | $31,740,299 |
| AMA | AMA Group Limited | 0.16 | -32% | $177,056,586 |
| PAB | Patrys Limited | 0.015 | -32% | $30,859,026 |
| SM1 | Synlait Milk Ltd | 1.49 | -32% | $315,850,500 |
| TOY | Toys R Us | 0.013 | -32% | $12,083,213 |
| MRZ | Mont Royal Resources | 0.086 | -31% | $6,437,371 |
| NGY | Nuenergy Gas Ltd | 0.029 | -31% | $50,352,487 |
| TYM | Tymlez Group | 0.009 | -31% | $9,829,758 |
| AUA | Audeara | 0.052 | -31% | $5,329,965 |
| BBX | BBX Minerals Ltd | 0.073 | -30% | $40,457,718 |
| LML | Lincoln Minerals | 0.014 | -30% | $8,624,755 |
| TMG | Trigg Minerals Ltd | 0.021 | -30% | $4,027,692 |
| M2M | Mtmalcolmminesnl | 0.033 | -30% | $2,055,108 |
| KCN | Kingsgate Consolid. | 1.415 | -30% | $362,906,669 |
On the losers list in April was Galena Mining (ASX:G1A)which said weather and technical impacts at the Abra lead-silver mine have resulted in a delayed ramp-up to expected steady-state production.
G1A said it will negatively impact 2023 cost and production guidance. The company has undertaken a $20m placement at 15c per share (a 36% discount to the 10-day VWAP) to provide additional working capital.
Tech minnow Gefen International (ASX: GFN) is also on the losers table for April after investors reacted badly to its latest quarterly report.
GFN reported cash receipts from customers in Q1 CY23 were US$2.4 million, down 14% on pcp (Q1 CY22 of US$2.8 million), which it attributed predominantly to the removal of a larger agent network from the platform that was generating significant losses.
The company, which provides global and scalable tech solutions to highly regulated and compliance focused industries, said funds raised from its July 2021 IPO are being used to execute strategic growth initiatives, including funding research and development and introducing two new revenue streams.
The company had a cash balance of US$1.05 million as at March 31, 2023.
