ASX 200 stocks hitting 52-week highs and lows: Uranium and Real Estate
Uranium stocks are soaring to 52-week highs while several REITs are tumbling to fresh yearly lows.
Source: iStock
Mentioned
KEY POINTS
- Uranium stocks are soaring, with Paladin Energy marking a fresh 52-week high
- Reporting season winners are continuing to see incremental share price gains
- Real estate stocks are struggling, with 6 REITs hitting 52-week lows in the past week
Welcome back to the 52-week Series – A recap of ASX 200 stocks marking yearly highs and lows in the past week.
Highs & Lows by Sector
Financials: 3 Highs, 1 Low
Energy: 2 Highs, 0 lows
Technology: 1 High, 0 Lows
Discretionary: 1 High, 1 Low
Industrials: 1 High, 2 Lows
Staples, 1 High, 2 Lows
Utilities: 0 Highs, 0 Lows
Healthcare: 0 Highs, 3 Lows
Real Estate: 0 Highs, 6 Lows
Stocks at 52-week highs
Ticker | Company Name | Close Price | Sector | 1 Year |
|---|---|---|---|---|
AUB Group | $30.33 | Financials | 48.7% | |
Bapcor | $7.07 | Discretionary | 3.1% | |
Brickworks | $27.36 | Materials | 33.5% | |
Carsales | $29.27 | Technology | 40.7% | |
Hub24 | $34.11 | Financials | 52.0% | |
Netwealth Group | $15.81 | Financials | 18.9% | |
Paladin Energy | $1.01 | Energy | 16.9% | |
Seven Group | $28.75 | Industrials | 61.2% | |
United Malt Group | $4.93 | Staples | 43.7% | |
Washington H Soul Pattinson | $33.92 | Energy | 33.5% |
Key themes and takeaways
Revisiting some old takeaways: In my first edition of watching 52-week highs and why it matters, I noted a comment from US trader Mark Minervini and his book 'Trade like a Stock Market Wizard' which says "when you see a growing number of names in a particular industry making new 52-week highs (especially coming off a market low), this could be an indication that a group advance is underway.”
And that's taking place in uranium: Uranium prices have soared to a decade high of more than US$60 a pound amid persistent supply risks and an upbeat demand outlook. Paladin Energy has marked a fresh 52-week high this week. But so have its peers in the All Ords like Deep Yellow, Lotus Resources, Bannerman Energy and Boss Energy.
Reporting season winners: Reporting season might've wrapped up almost three weeks ago but we're continuing to see incremental share price gains from winners like Seven Group, Hub24 and Carsales.
Stocks at 52-week Lows
Ticker | Company Name | Close Price | Sector | 1 Year |
|---|---|---|---|---|
Abacus Group | $1.07 | Real Estate | -59.5% | |
Atlas Arteria | $5.97 | Industrials | -9.4% | |
Charter Hall Group | $10.22 | Real Estate | -17.1% | |
Cromwell Property Group | $0.43 | Real Estate | -43.1% | |
Coles Group | $15.82 | Staples | -4.7% | |
Charter Hall Retail | $3.34 | Real Estate | -15.7% | |
Core Lithium | $0.39 | Materials | -72.9% | |
Endeavour Group | $5.41 | Staples | -24.6% | |
Growthpoint Properties | $2.29 | Real Estate | -32.8% | |
Healius | $2.43 | Healthcare | -29.8% | |
Imugene | $0.06 | Healthcare | -73.2% | |
Nufarm | $4.70 | Materials | -12.5% | |
Perpetual | $21.01 | Financials | -17.5% | |
Region Group | $2.12 | Real Estate | -14.5% | |
Resmed Inc | $22.81 | Healthcare | -32.1% | |
South32 | $3.39 | Materials | -12.6% | |
The Star Entertainment | $0.84 | Discretionary | -68.7% | |
Block Inc | $82.65 | Industrials | -18.2% |
Key themes and takeaways
Once you're here, it's hard to get out: Stocks that have hit 52-week lows have struggled to stage a meaningful recovery. We're seeing several names that hit a low in recent weeks make another appearance, including Coles, Core Lithium, Endeavour Group, Healius, Nufarm, Resmed and South32. Perhaps this speaks to the old adage 'the trend is your friend'.
Real estate pains: 6 REITs have hit 52-week lows in the past week as the market continues to underestimate the impact of higher rates. Morgan Stanley says it expects FY24 revenue for REITs under its coverage to recover to within 98% of pre-Covid levels but earnings per share will still be 9% below because of higher interest rates.
