10 Best ASX stocks to buy now: Opinion

In the past year, the ASX 200 has returned an impressive 24%, the best performing year since 1987. The economic recovery from the COVID-19 pandemic has likely bolstered the index’s performance. However, even more impressive is the performance of the below ASX stocks which have risen up to 3000% in the last 12 months ending June 30, 2021.

In the past 12 months, these are the top 10 stocks on the ASX that rose the most:

  1. Magnetite Mines (ASX:MGT)
  2. Ultima Utd Ltd (ASX:UUL)
  3. Podium Minerals (ASX:POD)
  4. Mindax Limited (ASX: MDX)
  5. Sagalio Energy Ltd (ASX: SAN)
  6. East Energy Resource (ASX: EER)
  7. Aquis Ent Ltd (ASX: AQS)
  8. Venturex Resources (ASX: VXR)
  9. Globe Metals & Mining (ASX: GBE)
  10. 8Vi Holdings Limited (ASX: 8VI)

Could these be the best stocks to buy right now? Let’s explore in more detail.

Magnetite Mines (ASX:MGT) – Up 3213%

Sitting firmly in the Resources sector, this development-stage company is advancing the Razorback High Grade Iron Ore Concentrate Project located in Braemar, South Australia. Magnetite has likely benefitted from a rebound in the iron ore market during FY21.

Ultima Utd Ltd (ASX:UUL) – Up 2750%

It is no secret that the property market has had a stellar year, so it’s no surprise that we found a property developer in the top ten. Ultima has three major housing development projects currently in progress and all are in Western Australia.

Podium Minerals (ASX:POD) – Up 2532%

Another mining company, Podium Minerals Limited, focuses on the exploration of platinum group metals, gold and base metals.The mine is located in the midwest region of Western Australia.

Mindax Limited (ASX: MDX) – Up 2233%

Mindax Limited was first listed on the ASX in 2004 and is similar to Magnetite Mines, this company has likely benefited from the uptick of the iron ore market as it has a strong portfolio of projects in iron ore, as well as gold.

Sagalio Energy Ltd (ASX: SAN) – Up 2100%

Formerly known as Feore Limited, this mining company is principally engaged in the exploration and development of oil resources in central Asia, specifically in the Kyrgyzstan. The company is headquartered in Hong Kong.

East Energy Resource (ASX: EER) – Up 1700%

Another company from the Resources sector, East Energy Resources, is focused on the exploration of coal. Specifically, their current undertaking is the Blackall Coal Project and is based in the Eromanga Basins in Central Queensland, approximately 65km south of the township of Blackall.

Aquis Ent Ltd (ASX: AQS) – Up 1543%

Aquis Entertainment’s vision is to provide Australia with next generation entertainment. Currently, the company owns Casino Canberra and is actively looking to grow its Australian operations. Aquis specialise in the development and operation of resort projects that focus on growing tourism with hotels, convention centres and a diverse range of entertainment including restaurants, gaming, shopping and shows.

Venturex Resources (ASX: VXR) – Up 1501%

The company’s flagship venture is the Copper Zinc Sulphur Springs Project in Western Australia. Venturex also performs continued exploration across its other assets in the Pilbara region.

Globe Metals & Mining (ASX: GBE) – Up 1450%

Globe first listed on the ASX in 2005, is an African-focused resources company. Their Kanyika Niobium Project in Malawi is looking to produce high purity niobium pentoxide and tantalum pentoxide powders. GBE is headquartered in Perth, Western Australia.

8Vi Holdings Limited (ASX: 8VI) – Up 1375%

Established in 2008, 8VI is a Singapore-based FinEduTech company. 8VI is a financial adviser that has a stock analysis app. The app simplifies stock analysis and the decision-making process for equity investors into easy-to-use visuals.

Compare Online Share Trading Accounts with Canstar

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Should you invest?

It is important to bear in mind that past performance is not an indication of future performance. And, before investing in any stock it is important to thoroughly research the company, and ensure this investment aligns with your goals and timeframe. If ever in doubt, seek advice from a professional financial adviser.

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Marissa is the Content Producer for the Wealth team at Canstar, and specialises in investment content. Her previous experience has seen her create content for wide range of industries from travel to the legal sector. Follow Marissa on LinkedIn, and Canstar Investor Hub on Facebook.

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