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ASX Small Cap Lunch Wrap: Who’s looking for bargains today?
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Local investors were greeted by a sea of red at the opening bell after another rough session on Wall Street overnight.
The main theme on global markets this week has been a worrying rise in COVID-19 cases, with signs that the health systems of some major economies are again coming under pressure.
That worsening health outlook has been accompanied by a dose of political risk, which is back in play ahead of next Tuesday’s US election.
Recall that at the height of the March panic, the US Federal Reserve unloaded everything it had to stem the crisis — and markets still tanked.
It wasn’t until US Congress signed a historic $US2 trillion stimulus bill that things began to stabilise.
And with COVID-19 well and truly off the leash across America, markets were hoping for a further dose of ~$US2 trillion or something similar from the government before the election.
However, that scenario looks to be off the cards now. And local markets haven’t been immune to a discernible round of risk-off sentiment.
The ASX Emerging Companies Index is down more than six per cent since October 19, while the ASX200 is on track for its fifth loss in six days.
But as today’s (artfully decorated) picture indicates, for investors who think the market will navigate its way out of those near-term risk factors, it could be bargain hunting time.
WINNERS
Here are the best performing ASX small cap stocks at 12pm Thursday October 29:
Swipe or scroll to reveal the full table. Click headings to sort.
Stocks highlighted in yellow have made market-moving announcements
| CODE | NAME | PRICE | % CHANGE | MARKET CAP |
|---|---|---|---|---|
| XPL | Xplorewlth Limited | 0.19 | 188 | $ 19,637,392 |
| ARN | Aldoro Resources | 0.2 | 111 | $ 6,306,176 |
| ANW | Aus Tin Mining | 0.0015 | 50 | $ 3,651,996 |
| CCE | Carnegie Cln Energy | 0.002 | 33 | $ 16,712,179 |
| SOR | Strategic Elements | 0.145 | 21 | $ 34,365,587 |
| BLG | Bluglass Limited | 0.12 | 20 | $ 71,967,668 |
| TMK | Tamaska Oil Gas Ltd | 0.006 | 20 | $ 4,450,000 |
| WBE | Whitebark Energy | 0.003 | 20 | $ 10,157,814 |
| VRX | VRX Silica Ltd | 0.2 | 18 | $ 75,667,209 |
| TTB | Total Brain Ltd | 0.4 | 16 | $ 37,364,805 |
| DRO | Droneshield Limited | 0.195 | 15 | $ 65,993,592 |
| CZL | Cons Zinc Ltd | 0.004 | 14 | $ 11,097,364 |
| XST | Xstate Resources | 0.004 | 14 | $ 5,072,343 |
| GLH | Global Health Ltd | 0.455 | 14 | $ 16,839,328 |
| KSS | Kleos | 0.83 | 14 | $ 85,722,076 |
| CGS | Cogstate Ltd | 1.17 | 14 | $ 175,225,314 |
| KIS | King Island | 0.096 | 13 | $ 22,500,299 |
| HXG | Hexagon Energy | 0.054 | 13 | $ 14,036,803 |
| BIQ | Buildingiq, Inc | 0.009 | 13 | $ 2,989,384 |
| FLC | Fluence Corporation | 0.23 | 12 | $ 128,095,077 |
| AKM | Aspire Mining Ltd | 0.077 | 12 | $ 35,026,952 |
B2B investment solutions platform Xplore Wealth Ltd (ASX:XPL) was the big winner in morning trade on the back of a takeover offer.
The company announced it’s entered into a binding Scheme Implementation Agreement with HUB24 Limited (ASX:HUB), for HUB24 to buy the business.
The deal values XPL at 20c per share — a premium of almost 200 per cent from their last closing price on October 27. HUB24 shares also rose by seven per cent following the announcement.
Also doubling up in morning trade was Aldoro Resources (ASX:ARN), after announcing it’s commenced exploration at its fully owned Narndee Igneous Complex project in WA’s Murchison Region.
ARN said the Complex has similar characteristics to Chalice Gold Mines’ (ASX:CHN) Julimar discovery.
Historic exploration shows a working sulphide mineral system with the potential for significant deposits of nickel, copper and platinum, the company said.
LOSERS
Here are the best performing ASX small cap stocks at 12pm Thursday October 29:
Swipe or scroll to reveal the full table. Click headings to sort.
| CODE | NAME | PRICE | % CHANGE | MARKET CAP |
|---|---|---|---|---|
| HNR | Hannans Ltd | 0.005 | -29 | $ 13,915,682 |
| APG | Austpac Resources NL | 0.0015 | -25 | $ 5,668,004 |
| CLZ | Classic Min Ltd | 0.0015 | -25 | $ 26,678,279 |
| FGO | Flamingo Ai Ltd | 0.003 | -25 | $ 4,480,511 |
| NPM | Newpeak Metals | 0.003 | -25 | $ 17,460,650 |
| TGO | Trimantium Growthops | 0.04 | -25 | $ 8,053,074 |
| TOU | Tlou Energy Ltd | 0.055 | -24 | $ 37,814,331 |
| MLS | Metals Australia | 0.002 | -20 | $ 9,120,882 |
| XPE | Xped Limited | 0.002 | -20 | $ 4,482,155 |
| INP | Incentiapay Ltd | 0.021 | -19 | $ 18,673,971 |
| BUX | Buxton Resources Ltd | 0.07 | -18 | $ 11,564,712 |
| AQI | Alicanto Min Ltd | 0.145 | -17 | $ 49,133,632 |
| GLA | Gladiator Resources | 0.0025 | -17 | $ 6,983,503 |
| PRM | Prominence Energy NL | 0.005 | -17 | $ 2,940,432 |
| XTC | Xantippe Res Ltd | 0.0025 | -17 | $ 12,223,693 |
| TAS | Tasman Resources Ltd | 0.031 | -16 | $ 21,629,625 |
| FAU | First Au Ltd | 0.021 | -16 | $ 13,452,116 |
| MIL | Millennium Grp Ltd | 0.355 | -15 | $ 19,289,869 |
| AYM | Australia United Min | 0.011 | -15 | $ 23,953,507 |
| ASP | Aspermont Limited | 0.006 | -14 | $ 15,941,203 |
