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Stocks 2017 – Mining at the top

Investors are showing a liking for growing numbers of mining stocks listing on the Australian stock market and there are high hopes for medical marijuana plays too, a new report shows.

Ten of the 26 companies that listed on the Australian Securities Exchange (ASX) in the first three months of the 2017 calendar year were mining companies, compared to just two in the same period in 2016, IPO portal provider OnMarket Bookbuilds says.

“The rush of mining companies to float on the ASX reflects a significant turnaround from last year when few miners floated,” OnMarket managing director Tim Eisenhauer said on Tuesday.

“There is now a greater investor appetite for mining sector investment given higher commodity prices and greater confidence overall in share markets,”

# source: SBS

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