Three Shares That Beat the Market Today

StockMarketBoardIt was mostly a sea of red for Singapore’s blue chips as the Straits Times Index (SGX: ^STI) slid 0.5% to 3,225 points. More than two-thirds of the 30 STI-components lost ground today but there were some notable winners outside the index.

LionGold Corp (SGX: A78) was up by 5.1% to S$1.245. Last week, the gold miner announced that it had acquired Acadian Mining Corporation for S$9.1m in cash. The acquisition gives LionGold new gold resources of around 1.33m ounces, bringing its total resources to 6.84m. It also provides the company with a foothold in Canada to kick-start its long-term plan of creating a North American gold-mining hub.

LionGold also raised gold-production targets to 200,000 ounces for 2014. The recent fall in gold prices that led to the decline in share prices of other gold-mining companies also provides LionGold with expanded opportunities for acquisitions, which could help the company meet its 2014 production-targets as well as its longer-term aim of becoming a “mid-tier global gold mining company… [with] gold resources of 10m ounces and gold reserves of 2m ounces

Innopac Holdings (SGX: I26) gained 4.3% to S$0.145.

The company, whose business interests include investment holdings, provision of management services to related companies, and telecommunication services, had requested for a trading halt on Monday morning.

It was revealed this afternoon that the company had issued 250m new shares – roughly 8.6% of its 2.9b existing share count – to Platinum Partners Value Arbitrage Fund for S$30.8m. Shortly afterwards, Innopac requested for a lift of the trading halt and saw its share price jump sharply once trading resumed.

The buyers of Innopac’s shares are a “multi-strategy hedge fund” managed by Platinum Partners, an investment management group based in New York with assets under management of more than US$1b.

Innopac will be using S$2.5m of the sale proceeds for working capital while the balance of around S$27.3m, after deduction of related-expenses, will be “used to fund its growth and business expansion.”

Tower crane designer and manufacturer, Yongmao Holdings (SGX: E6A) rose 5.1% to S$0.205. Yesterday evening, the company released its first quarter results that revealed a 115% year-on-year increase in quarterly earnings to RMB13.1m.

Despite the strong earnings results, management remains cautious over an uncertain global economy and warned of an increase in costs should the Chinese yuan appreciate against the US and Singapore dollar. In addition, Yongmao also sees price competition creeping in for the supply of smaller tower cranes in China.

The market seemed happy enough with Yongmao’s results, judging by the 5.1% rise.

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The information provided is for general information purposes only and is not intended to be personalised investment or financial advice. Motley Fool Singapore contributor Chong Ser Jing doesn’t own shares in any companies mentioned.