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The unfortunate end of the month S & P / ASX200 Index (ASX: XJO) The period ended with 7,323.7 points, the lowest monthly decline.
The good news is that this didn’t stop many stocks from being charged higher in October. Here’s why these were the best performing ASX200 shares last month:
Perentie’s share price performed best with a 23.6% rise on the ASX 200 last month. This seems to have been driven by a positive reaction to the mining services company’s annual meeting. At the meeting, management maintained that guidance, spoke positively about the future, and noted that investments were made to support its sustainable growth. In response to the meeting, Macquarie maintained its outperform rating and raised its price target to $ 1.10.
Netwealth Group Ltd (ASX: NWL)
Netwealth’s share price rose 22.7% during the month, not too late.Investors were fighting to buy shares in an investment platform provider in October after a strong release First quarter update.. Netwealth reported a record net inflow of $ 4 billion in the first quarter. This brings the managed funding (FUA) to $ 52 billion. In response, Ord Minnett maintained its purchase rating and raised its price target to $ 19.50.
Silver Lake Resource Limited (ASX: SLR)
Silver Lake Resource’s share price was strong and was billed 21.9% higher during the period. This seems to have been driven by a strong quarterly update by gold miners. Silver Lake reported a record quarterly gold production of 31,033 ounces in the operation of the deflector. This brought the Group’s quarterly gold production to 64,947 ounces. In light of this, management believes it is in a good position to provide the group’s 2022 gold sales guidance of 235,000 to 255,000 ounces.
GUD Holdings Limited (ASX: GUD)
GUD’s share price was strong, rising 21.4% in October. There were several catalysts for this powerful benefit. One was the release Transaction updates At the City Australia & New Zealand Investment Conference. GUD has revealed that demand for its products remains resilient despite a widespread and long-term blockade. As a result, GUD revenue and EBIT are now being tracked in line with management expectations. In addition, the company announced at the end of the month that it had agreed to acquire the lighting company Vision-X for US $ 53 million.
These were the ASX200 strains that performed best in October 2021.
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