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Data Insights
ASX 200 stocks hitting fresh 52-week highs and lows – Week 39
By
Kerry Sun
Mon 30 Sep 24, 10:16am (AEDT)
Source: Shutterstock
Stocks in article
Key Points
- Most large cap miners rallied 5-20% last week after China unveiled its biggest stimulus package since the pandemic
- The resurgence in miners triggered a rotation out of Big Four Banks, most of which finished the week down 6-7%
- Soaring real estate stocks take a breather as treasury yields climb despite the Fed's jumbo sized rate cut earlier this month
Welcome back to the 52-week Series – A recap of ASX 200 stocks that have tagged a fresh yearly highs and lows in the past week.
52-Week Highs and Lows by Sector
Materials: 9 Highs, 0 Lows
Financials: 7 Highs, 2 Lows
Technology: 4 Highs, 1 Low
Health Care: 4 Highs, 0 Lows
Real Estate: 3 Highs, 0 Lows
Industrials: 3 Highs, 2 Lows
Discretionary: 3 Highs, 1 Low
Staples: 1 High, 1 Low
Utilities: 1 High, 0 Lows
Telecommunication: 0 Highs, 1 Low
Energy: 0 Highs, 0 Lows
What Does the Data Tell Us?
Resource strength: Resource stocks experienced a massive rally last week after China unveiled a wave of stimulus measures aimed at boosting its economy. Most large cap miners including BHP, Rio Tinto and MinRes rallied 10-20% but that wasn't enough to drag them out of negative year-to-date territory. Nevertheless, if these gains hold and the rally broadens, it may signal a potential turnaround for the sector.
Financials rotation: The resource sector rally triggered a noticeable shift from financial stocks to mining stocks. As a result, the Big Four banks declined 4-6% last week, marking their worst performance since the Japanese carry trade disruption. Interestingly, this rotation occurred without significant news in the financial sector.
Real estate stocks take a breather: The Fed sent a clear message that interest rates are heading considerably lower in the future after a widely unexpected 50 bp rate cut on 18 September. However, the Treasury market appeared unresponsive, with the US 10-year yield increasing by approximately 10 bps after the rate cut. This could be due to the market discounting an aggressive easing cycle or concerns over the US debt situation. Consequently, rising bond yields have temporarily halted the momentum of yield-sensitive real estate stocks.
Lows are subsiding: Stocks hitting fresh 52-week lows are now primarily due to specific factors rather than broader market trends. These include reporting season underperformers like Megaport and Inghams, companies affected by macroeconomic challenges such as Spark and Auckland Airport (impacted by New Zealand's weak economy), and those facing regulatory issues like The Star.
ASX 200 Financials at 52-week highs
Ticker | Company | Close | 1 Week | 1 Year |
|---|---|---|---|---|
Zip Co | $2.79 | 4.5% | 879.0% | |
Pinnacle Investment Management | $18.09 | 3.0% | 101.7% | |
Hub24 | $59.16 | 3.7% | 83.8% | |
Netwealth Group | $25.39 | 5.2% | 71.1% | |
Westpac | $31.80 | -5.3% | 50.5% | |
Macquarie Group | $233.49 | 1.0% | 39.1% | |
National Australia Bank | $36.94 | -6.9% | 27.6% |
Data shows any stock to have hit a 52-week high in the past week. Share price and performance as at Friday 27 August close
ASX 200 Materials at 52-week highs
Ticker | Company | Close | 1 Week | 1 Year |
|---|---|---|---|---|
Alcoa Corporation | $57.23 | 12.4% | NA | |
Newmont Corporation | $80.12 | 1.9% | NA | |
West African Resources | $1.79 | 5.3% | 130.3% | |
Sandfire Resources | $10.68 | 17.4% | 71.4% | |
Ramelius Resources | $2.27 | 4.1% | 57.6% | |
Northern Star Resources | $16.23 | 1.3% | 54.7% | |
Evolution Mining | $4.69 | 6.6% | 43.0% | |
Lynas Rare Earths | $7.76 | 11.5% | 14.5% | |
Incitec Pivot | $3.13 | 1.0% | 0.6% |
Data shows any stock to have hit a 52-week high in the past week. Share price and performance as at Friday 27 August close
Other stocks and sectors at 52-week highs
Ticker | Company | Close | Sector | 1 Week | 1 Year |
|---|---|---|---|---|---|
Breville Group | $35.32 | Discretionary | 1.6% | 61.9% | |
ARB Corporation | $47.35 | Discretionary | 4.5% | 53.3% | |
Aristocrat Leisure | $58.17 | Discretionary | 1.0% | 43.3% | |
Sigma Healthcare | $1.46 | Health Care | 3.6% | 117.1% | |
Pro Medicus | $174.04 | Health Care | 1.1% | 107.7% | |
Telix Pharmaceuticals | $20.44 | Health Care | 0.6% | 79.3% | |
Ansell | $31.69 | Health Care | -0.8% | 44.2% | |
Qantas Airways | $7.42 | Industrials | 2.2% | 45.5% | |
Qube Holdings | $3.97 | Industrials | 1.3% | 39.8% | |
Seven Group | $42.69 | Industrials | -1.0% | 38.5% | |
Centuria Capital | $2.12 | Real Estate | 1.9% | 55.3% | |
Pexa Group | $14.90 | Real Estate | 2.1% | 29.9% | |
National Storage Reit | $2.54 | Real Estate | -0.4% | 16.5% | |
Bega Cheese | $5.35 | Staples | 2.5% | 114.9% | |
Wisetech Global | $135.15 | Technology | 2.6% | 109.3% | |
Codan | $16.13 | Technology | 4.7% | 107.6% | |
Technology One | $23.80 | Technology | -0.6% | 54.2% | |
Siteminder | $6.20 | Technology | 18.8% | 34.2% | |
AGL Energy | $11.98 | Utilities | 2.0% | 12.1% |
Data shows any stock to have hit a 52-week high in the past week. Data is sorted by Sector and 1-year performance. Share price and performance as at Friday 27 August 2024
ASX 200 stocks at 52-week lows
Ticker | Company | Close | Sector | 1 Week | 1 Year |
|---|---|---|---|---|---|
The Star Entertainment | $0.25 | Discretionary | -44.4% | -59.4% | |
NIB Holdings | $5.93 | Financials | 1.9% | -19.8% | |
Perpetual | $18.30 | Financials | -0.1% | -12.1% | |
IPH | $6.17 | Industrials | 5.3% | -16.6% | |
Auckland International Airport | $6.81 | Industrials | 2.4% | -6.2% | |
Inghams Group | $3.00 | Staples | 2.7% | -9.9% | |
Megaport | $7.50 | Technology | 3.0% | -36.7% | |
Spark New Zealand | $2.86 | Telecommunication | -5.0% | -35.7% |
Data shows any stock to have hit a 52-week low in the past week. Data is sorted by Sector and 1-year performance. Share price and performance as at Friday 27 August 2024
Why do 52-Week Highs and Lows Matter
Here are some of the key points our first 52-Week article:
A research thesis by Thomas J. George and Chuan-Yang Hwang titled The 52-Week High and Momentum Investing concludes that stocks nearing their 52-week high tend to outperform in the future, surpassing the predictive power of past returns.
US trader Mark Minervini also notes that “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.”
1851 Capital Chief Investment Officer Chris Stott says the numbers are useful in helping to determine which stocks have the momentum to keep making fresh highs. The data is used to identify continuous winners and generate fresh ideas.
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