ASX November winners: The best 50 stocks as cooling inflation gives markets a little reprieve

The S&P ASX 200 was up 5% in November with small and mid caps rising even higher
The healthcare sector had the biggest turnaround, rising close to 12% in November

After a rough few months for the Aussie bourse, there were signs the storm was starting to ease in November. The benchmark S&P ASX 200 lifted 5% in November, while small and mids caps rose even higher, with S&P ASX small ordinaries up 7% and the S&P ASX MidCap 50 up 5.35%.

The S&P ASX Mid-Cap 50 and he S&P ASX Small Ordinaries are now back in the green for 2023. However, the S&P ASX Emerging Companies index is still down more than 6% for the year, according to S&P Dow Jones Indices.

Source: S&P Dow Jones Indices

Easing inflation gives cause for optimism

After a rough 2023, it seemed the Aussie bourse and global markets finally caught a break in November.

There was still continued war in Ukraine and conflict between Israel and Hamas in November but there were also signs macro uncertainties were abating leading to the S&P ASX 200 VIX falling to 9.67, its lowest level since June 2018.

Bloomberg reported the S&P 500 had one of its biggest November rallies on record, while November saw the MSCI All Country World Index rise by 9.1%, marking its biggest rise since the same month two years ago and the third largest monthly upsurge in the past decade.

The Australian equity rally was helped along in November by latest CPI figures showing that the monthly inflation rate fell to 4.9% from 5.6% in October, beating expectations.

With 13 hikes in 18 months, the official cash rate is now at 4.35%, the highest it has been in 12 years as the central bank moved to bring down sticky inflation to its target 2-3%.

But in a sign inflation may finally be falling, there is speculation (optimism too) the central bank’s rate-hike cycle has peaked.

The US Federal Reserve is also taking a more dovish tone on the back of some promising data. The US core personal consumption expenditures (PCE) price index, a key measure used by the Fed to evaluate underlying inflation, has fallen, suggesting a reduction in price pressures.

Additionally, evidence from both the labor market and consumer spending indicates a gradual slowdown in growth, which could further influence the Fed’s decision to keep hiking rates at the cost of economic growth.

Red Leaf Securities CEO John Athanasiou told Stockhead now that inflation is starting to cool off, the S&P ASX small ordinaries index has outperformed other sectors.

“We anticipate that this trend will continue as inflation eases in 2024,” he says.

“Best options are in the small cap tech sector, they have a lot of catching up to do compared to their larger peers.

“The information technology sector is up 22% YTD but that’s the bigger end of town.”

Health leads winning sectors, all equity factors up

The S&P/ASX 200 health care and real estate sectors had the sharpest turnarounds, both rising more than 10% in November.

As oil prices fell, energy was the worst performer, while defensive sectors including Utilities and Consumer Staples were also in the red.

Source: S&P Dow Jones Indices

All equity factor indices were in positive territory in November, with the S&P ASX 200 equal weight rising the most in line with the small cap outperformance.

While still in positive territory the thematically-targeted S&P ASX infrastructure and S&P ASX 200 Resources indices also trailed the otherwise-soaring equity markets with gains under 2%.

Source: S&P Dow Jones Indices

Fixed income up in November

Fixed income indices in Australia were also back in positive territory in November after being down in September and October. Government bonds were just ahead of corporates.

Source: S&P Dow Jones Indices

Here are the 50 best performing ASX stocks for November:

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CODE COMPANY LAST SHARE PRICE SEPTEMBER RETURN % MARKET CAP CPM Cooper Metals 0.435 263% $16,183,869 TG1 Techgen Metals Ltd 0.085 204% $8,458,392 SHN Sunshine Metals Ltd 0.036 177% $45,288,312 GHY Gold Hydrogen 0.7 169% $42,976,882 IMU Imugene Limited 0.11 168% $752,322,360 WML Woomera Mining Ltd 0.024 167% $31,036,058 AZL Arizona Lithium Ltd 0.04 167% $127,091,547 LBT LBT Innovations 0.013 160% $20,806,206 TSL Titanium Sands Ltd 0.015 150% $24,805,266 CC9 Chariot Corporation 0.62 143% $47,665,519 TG6 TG metals 0.825 139% $36,627,469 EXL Elixinol Wellness 0.014 133% $8,227,331 TZN Terramin Australia 0.056 124% $59,263,756 TCG Turaco Gold Limited 0.11 120% $61,664,000 NFL Norfolk Metals 0.38 117% $15,719,623 KGD Kula Gold Limited 0.029 115% $13,839,070 XGL Xamble Group Limited 0.061 110% $18,030,674 NIS Nickelsearch 0.11 108% $23,190,296 FL1 First Lithium Ltd 0.62 107% $47,635,134 4DX 4Dmedical Limited 0.955 103% $344,847,103 NSM Northstaw 0.073 103% $8,769,271 CLE Cyclone Metals 0.002 100% $15,396,757 KTA Krakatoa Resources 0.044 100% $19,135,508 RWD Reward Minerals Ltd 0.08 100% $18,228,251 CPV Clearvue Technologie 0.645 95% $132,832,619 PRS Prospech Limited 0.041 95% $8,570,639 BML Boab Metals Ltd 0.16 95% $26,169,416 IDT IDT Australia Ltd 0.11 93% $36,905,344 MKL Mighty Kingdom Ltd 0.0185 85% $7,146,283 STK Strickland Metals 0.185 85% $293,175,022 PLT Plenti Group Limited 0.605 75% $105,017,699 KNM Kneomedia Limited 0.0035 75% $4,599,814 OBM Ora Banda Mining Ltd 0.235 74% $409,582,769 CCO The Calmer Co Int 0.006 71% $4,902,716 MHK Metalhawk 0.17 70% $14,440,600 AMM Armada Metals 0.044 69% $7,247,859 DCL Domacom Limited 0.022 69% $9,581,039 PLG Pearl Gull Iiron 0.044 69% $6,545,337 BLU Blue Energy Limited 0.022 69% $40,721,419 AUE Aurum resources 0.185 68% $6,570,000 FND Findi Limited 1.09 67% $43,308,869 EQN Equinox Resources 0.3 67% $31,992,501 WSP Whispir Limited 0.49 66% $65,545,932 FRE Firebrick Pharma 0.061 65% $6,697,338 ARE Argonaut Resources 0.105 64% $15,272,430 OPT Opthea Limited 0.525 64% $278,379,626 FME Future Metals NL 0.059 64% $23,845,418 OZZ OZZ Resources 0.09 64% $8,327,711 YRL Yandal Resources 0.089 62% $16,723,611 WYX Western Yilgarn NL 0.11 59% $5,214,038

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Copper and gold hunter Cooper Metals (ASX:CPM) was up after confirming a high-grade copper discovery at its Brumby Ridge copper-gold prospect at the Mt Isa East project in northwest Queensland.

Results of drilling included 71m at 2.8% copper including 24m at 5.4% copper.

“This new result builds on the initial RC drill hole 23MERC024, which intercepted 50m at 1.32% Cu and 0.05g/t Au from 80m including 2m @ 6.1% Cu & 0.23g/t Au,” CMP says.

Sunshine Metals (ASX:SHN) rose with as Rob Badman best described “the microcap gold’n’copper-chasing Queenslander basking in recent warmth from a thick, high-grade gold hit out at its Liontown prospect at the Ravenswood West project, about 130km south of Townsville in northern Queensland”.

SHN intersected 17m at 22.14g/t gold with company believing it may have struck paydirt in a gold and copper rich feeder zone to the 2.3Mt zinc-gold-copper-lead-silver VMS resource at the Liontown deposit.

In the rebounding health sector Imugene (ASX:IMU) rocketed higher after announcing its novel cancer-killing virus, CF33-hNIS (VAXINIA), was granted fast track designation by the US FDA.

The designation was granted based on the promising data from IMU’s Phase 1 MAST trial where low doses of VAXINIA were administered to patients suffering with bile duct cancer.

READ Check Up: Imugene’s oncolytic virus VAXINIA granted FDA’s Fast Track, but how effective is this novel therapy?

And a 2023 IPO Gold Hydrogen (ASX:GHY) was also up in November. GHY holds the Ramsay project in South Australia’s Gawler craton and is already seeing some early success.

As Stockhead’s Emma Davies reported, its first well, Ramsay-1, was drilled to a depth of 1,005m on time and on budget.

Significant concentrations of natural hydrogen and helium confirmed historical measurements and demonstrated that an active system is present in the Ramsay project area.

Here are the 50 worst performing ASX stocks for November:

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CODE COMPANY LAST SHARE PRICE SEPTEMBER RETURN % MARKET CAP NPMDA Newpeak Metals 0.028 -72% $9,995,579 TMR Tempus Resources 0.006 -67% $2,057,537 JAY Jayride Group 0.03 -64% $7,032,274 REM Remsense Technologies 0.019 -58% $2,007,983 8VI 8Vi Holdings Limited 0.055 -54% $2,514,685 BOD BOD Science Ltd 0.024 -52% $4,256,124 MMM Marley Spoon SE 0.034 -51% $3,649,456 ADS Adslot Ltd 0.002 -50% $9,673,487 AMD Arrow Minerals 0.001 -50% $4,535,648 ATH Alterity Therapeutics 0.0035 -50% $11,209,442 ME1 Melodiol Global Health 0.002 -50% $8,865,840 RR1 Reach Resources Ltd 0.006 -50% $17,656,634 AQX Alice Queen Ltd 0.006 -50% $1,018,444 3DP Pointerra Limited 0.047 -49% $34,978,924 GMR Golden Rim Resources 0.011 -48% $6,507,472 EWC Energy World Corporation 0.015 -46% $61,578,425 AL8 Alderan Resource Ltd 0.0065 -46% $6,641,168 ICG Inca Minerals Ltd 0.011 -45% $7,013,226 MKG Mako Gold 0.009 -44% $6,624,094 NGY Nuenergy Gas Ltd 0.018 -44% $29,619,110 NC6 Nanollose Limited 0.022 -44% $3,495,500 PEC Perpetual Resources 0.012 -43% $9,450,441 MPK Many Peaks Minerals 0.15 -42% $5,456,172 HMD Heramed Limited 0.037 -40% $10,342,025 WIN Widgie Nickel 0.11 -39% $40,222,582 MXC MGC Pharmaceuticals 0.62 -38% $24,269,886 4DS 4DS Memory Limited 0.075 -38% $183,601,416 SRX Sierra Rutile 0.11 -37% $44,544,827 RNE Renu Energy Ltd 0.013 -37% $5,369,869 CSS Clean Seas Ltd 0.265 -37% $45,509,616 ACM Aus Critical Mineral 0.18 -37% $5,351,625 VR1 Vection Technologies 0.024 -37% $27,038,135 SRN Surefire Rescs NL 0.0095 -37% $17,449,154 FLC Fluence Corporation 0.083 -36% $78,767,571 TGH Terragen 0.018 -36% $6,643,460 LM1 Leeuwin Metals Ltd 0.19 -36% $8,509,150 PAR Paradigm Bio. 0.39 -35% $138,601,224 MCL Mighty Craft Ltd 0.015 -35% $5,831,080 NMT Neometals Ltd 0.2 -35% $121,236,442 AXP AXP Energy Ltd 0.001 -33% $5,824,681 AYM Australia United Min 0.002 -33% $3,685,155 EMU EMU NL 0.001 -33% $1,667,521 FRX Flexiroam Limited 0.022 -33% $13,212,144 GBZ GBM Rsources Ltd 0.012 -33% $7,443,862 IAM Income Asset 0.08 -33% $25,573,663 LML Lincoln Minerals 0.006 -33% $10,163,072 MHC Manhattan Corp Ltd 0.004 -33% $11,747,919 NZS New Zealand Coastal 0.002 -33% $2,500,515 RCL Readcloud 0.038 -33% $6,140,589 RML Resolution Minerals 0.004 -33% $5,029,167

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Tempus Resources (ASX:TMR) fell after announcing it will not acquire Aurora Lithium, a private company which owns the Cormorant and White Rabbit projects in central Manitoba, Canada. The company terminated a heads of agreement after completion of due diligence.

TMR also announced in November plans to undertake a an underwritten non-renounceable entitlement offer at $0.005/share to raise ~$1.714 million to evaluate potential new acquisitions and realise value from the Blackdome-Elizabeth assets.

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