Closing Bell: ASX rebounds as Eagers revs up with a 21pc surge

Coles and Qantas drive ASX surge
Eagers, Ramsay, Medibank and Neuren rise
MrBeast eyes $5b valuation

The ASX had a good run on Thursday, with the market lifting 0.2% as key players like Coles Group (ASX:COL) and Qantas (ASX:QAN) reported some impressive numbers.

Coles rose 3% after announcing a net profit increase of 6.4% to $666 million in the first half of FY2025, and paying a 37-cent dividend. A little bit of luck was involved too, as the supermarket giant benefited from rival Woolworths’ strike in December.

Qantas jumped 4% after revealing a $1.4 billion half yearly profit and deciding to return some of that cash to shareholders with a special dividend.

Unlisted Virgin Australia was also making headlines after Qatar Airways was allowed by regulators to buy a 25% stake in the airline.

In other corporate action, Eagers Automotive (ASX:APE) was a standout, shooting up 21% despite reporting a 25% drop in net profit for the full year of FY24 to $222.9 million.

But the $3bn auto company’s stock jumped mainly because its secondhand car business, easyauto123, smashed records.

Eagers’ CEO Keith Thornton reckons the company’s still doing better than the overall market, and with over 200 showrooms in the ANZ, size is giving Eagers a leg up in the industry, he said.

The $8bn hospital network Ramsay Health Care (ASX:RHC) also climbed 8% after reporting strong performance in its Aussie and UK hospitals during the half.

Medibank Private (ASX:MPL) got a nice 10% boost after upping its dividend, despite challenges like cost of living pressures making people switch funds.

Neuren Pharmaceuticals (ASX:NEU) jumped 8% as sales in its Rett syndrome treatment, DAYBUE, nearly doubled.

This is where things stood leading up to Thursday’s close:

Meanwhile, American YouTube sensation MrBeast is reported to be raising cash to fuel his ever-expanding empire, with reports suggesting he’s eyeing a US$5 billion valuation.

MrBeast, whose real name is Jimmy Donaldson, wants to expand his business which includes his chocolate brand Feastables, snack company Lunchly, and video production company.

Despite his massive success, the man behind viral challenges has had his fair share of losses, notably on Amazon’s Prime Video series, which he said cost him tens of millions.

And finally elsewhere, US President Trump has just signed an executive order expanding Elon Musk’s “Doge” program.

The executive order asks agencies to team up with a DOGE to review contracts and grants, and adjust or cut them where needed.

ASX SMALL CAP LEADERS

Today’s best performing small cap stocks:

Code	Description	Last	%	Volume	MktCap
WWG	Wiseway	0.220	63%	709,289	$22,592,681
88E	88 Energy Ltd	0.002	50%	3,240,455	$28,933,812
VML	Vital Metals Limited	0.002	50%	2,215,673	$5,895,067
WBE	Whitebark Energy	0.007	40%	307,241	$1,541,046
WNR	Wingara Ag Ltd	0.007	40%	320,000	$877,713
EPX	Ept Global Limited	0.042	31%	388,965	$20,998,656
BB1	Blinklab Limited	0.440	28%	964,050	$21,126,474
BXN	Bioxyne Ltd	0.034	26%	3,527,230	$55,329,176
MEM	Memphasys Ltd	0.008	23%	4,282,064	$11,511,596
EGN	Engenco Limited	0.215	23%	726,015	$55,298,749
AEF	Australian Ethical	6.130	21%	593,345	$575,038,259
APE	Eagers Automotive	15.005	21%	3,469,571	$3,213,023,006
ASP	Aspermont Limited	0.006	20%	20,534	$12,350,058
RLF	Rlfagtechltd	0.043	19%	2,571,321	$12,619,076
GAL	Galileo Mining Ltd	0.155	19%	139,971	$25,691,241
MAT	Matsa Resources	0.063	19%	22,406,159	$38,828,362
BLU	Blue Energy Limited	0.007	17%	1,942,804	$11,105,842
GLL	Galilee Energy Ltd	0.007	17%	400,000	$3,343,157
RAN	Range International	0.004	17%	125,000	$2,817,871
RFT	Rectifier Technolog	0.007	17%	1,380,092	$8,291,904
TMK	TMK Energy Limited	0.004	17%	1,065,196	$27,976,695
GRV	Greenvale Energy Ltd	0.082	15%	815,869	$34,568,006
BMG	BMG Resources Ltd	0.015	15%	11,372,158	$10,899,163
NC6	Nanollose Limited	0.023	15%	246,852	$3,940,127
BYH	Bryah Resources Ltd	0.004	14%	142,857	$2,193,803

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Agricultural producer Wingara AG (ASX:WNR) has signed a deal to sell its Export Hay Press and related equipment for $750,000 plus GST. This decision comes after market conditions made it tough to operate efficiently, and the current equipment couldn’t achieve the needed scale. The sale price is seen as fair given the current market situation.

Engineering company Engenco (ASX:EGN) posted solid results for H1 FY25, with net profit before tax up 72.8% to $3.5 million. EBIT rose 43.9% to $4.6 million, thanks to better margins and cost management. While revenue dropped 3.3% to $104.8 million, Engenco made moves to cut unprofitable parts of the business.

Fund manager Australian Ethical Investment (ASX:AEF) had a cracking first half of FY25, with profits and revenue all up. Funds Under Management (FUM) hit a record $13.26 billion, up 27% from June 2024, and NPAT jumped 50% to $9.3 million. The company’s growth strategy is clearly paying off, all while expanding through the acquisition of Altius Asset Management.

Matsa Resources (ASX:MAT) has struck a deal with AngloGold Ashanti where the mining giant has the option to buy the majority of the Lake Carey gold project for $101 million. Matsa will be keeping some key assets though, like the Devon Pit Gold Mine and Fortitude North project. The deal includes a non-refundable $8 million upfront, with the bulk of it based on gold price fluctuations, plus a deferred payment of up to $20 million depending on future gold discoveries.

ASX SMALL CAP LAGGARDS

Today’s worst performing small cap stocks:

Code	Name	Price	% Change	Volume	Market Cap
EDE	Eden Inv Ltd	0.001	-50%	250,373	$8,219,762
MOM	Moab Minerals Ltd	0.001	-50%	4,258,023	$3,133,999
APC	APC Minerals	0.016	-33%	2,598,277	$2,812,154
SIT	Site Group Int Ltd	0.001	-33%	33,795,731	$4,886,235
SGQ	St George Min Ltd	0.022	-33%	104,561,242	$39,633,294
CHL	Camplifyholdings	0.525	-31%	362,028	$54,697,767
CCG	Comms Group Ltd	0.058	-28%	3,007,292	$31,149,483
BLZ	Blaze Minerals Ltd	0.003	-25%	7,500,020	$6,267,791
BP8	Bph Global Ltd	0.003	-25%	2,837,348	$1,933,233
EAT	Entertainment	0.003	-25%	60,000	$5,235,144
ERL	Empire Resources	0.003	-25%	161,000	$5,935,653
NES	Nelson Resources.	0.003	-25%	2,462,073	$8,687,711
TIG	Tigers Realm Coal	0.003	-25%	8,942	$52,266,809
CDR	Codrus Minerals Ltd	0.017	-23%	97,860	$3,638,525
5EA	5Eadvanced	0.875	-20%	12,433	$16,115,393
ADD	Adavale Resource Ltd	0.002	-20%	18,845	$5,683,198
CRR	Critical Resources	0.004	-20%	602,312	$12,321,106
LEG	Legend Mining	0.008	-20%	200,000	$29,094,772
MEL	Metgasco Ltd	0.004	-20%	1,053,703	$7,287,934
EVZ	EVZ Limited	0.160	-18%	186,373	$23,668,304
ALR	Altairminerals	0.003	-17%	55,500	$12,890,233
OSL	Oncosil Medical	0.005	-17%	6,281,930	$27,639,481
RDN	Raiden Resources Ltd	0.005	-17%	26,040,499	$20,705,349
RMI	Resource Mining Corp	0.005	-17%	1,904,483	$3,914,087

IN CASE YOU MISSED IT

Ark Mines (ASX: AHK) has received an R&D tax refund of just over $290,000 for work on its Sandy Mitchell REE and mineral sands project in North Queensland during FY24. The company says the refund highlights the project’s unique nature and world-class potential. Ark is also exploring further financial opportunities, including grants and developmental partnerships.

The first half of AnteoTech’s (ASX:ADO) 2025 financial year has been “a period of advancement,” with revenue from ordinary activities jumping 74% from the previous corresponding period to $660,000. The company attributes this growth to its marketing-led, customer-centric approach gaining traction.

Brightstar Resources (ASX:BTR) has received approval to kick off gold mining at its Fish underground project, which will supply ore to the Laverton mill under its agreement with Genesis Minerals. Underground portal development is set to begin in April 2025, with first ore production expected in the June quarter.

CSE-listed American Salars Lithium (CSE:USLI) is building on its fast-growing lithium portfolio with the acquisition of the Leduc East lithium pegmatite project in Quebec. This follows its recent purchase of the Jaguaribe project in Brazil, where rock samples returned high grades of up to 3.72% Li₂O. As for the Leduc East project, it hosts 35 mapped pegmatites and 13 former feldspar and mica mines.

Riversgold (ASX:RGL) is adding another rig to kick off its 2025 drill season at the Kalgoorlie East gold project in WA. The aircore rig will drill 2000 metres to test shallow mineralisation, while a newly added RC rig from Topdrill will complete 1280 metres at depths of 100 to 120 metres, targeting extensions of previous high-grade shallow intercepts.

After executing binding toll milling agreements, Challenger Gold (ASX:CEL) has appointed veteran mining engineer Ubirata (Bira) De Oliveira as general manager of operations for its Hualilan gold project in San Juan, Argentina. Oliveira will lead the operational readiness phase for toll milling, managing the transition from development to full-scale production and overseeing daily mining activities.

European Lithium (ASX: EUR) has announced that Critical Metals Corp has appointed Michael C. Ryan as an independent director to its board. Ryan will also serve as chairman of the Audit Committee, bringing the total number of directors on Critical Metals Corp’s board to five.

At Stockhead, we tell it like it is. While Ark Mines, AnteoTech, Brightstar Resources, American Salars Lithium, Riversgold, Challenger Gold, and European Lithium are Stockhead advertisers, they did not sponsor this article.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.