Top 20 ASX trades by Sharesight users – January 2024

Welcome to the January 2024 edition of Sharesight’s monthly ASX trading snapshot, where we look at the top 20 trades Sharesight users made on the ASX during the month.

In this snapshot, trades were strongly led by Vanguard’s Australian Shares Index ETF (ASX: VAS). In terms of individual stocks, trades were led by Pilbara Minerals (ASX: PLS), which remains the most-shorted stock on the ASX. Trades were followed by Woodside Energy (ASX: WDS), which recently announced its commitment to supply gas to Australia’s east coast.

Top 20 ASX trades January 2024

Let’s look at the news behind some of the key stocks in this month’s snapshot:

Pilbara Minerals (ASX: PLS)

• Pilbara share price drops despite news of expanded offtake agreement with Ganfeng Lithium
• Pilbara remains the most-shorted ASX stock
• Goldman Sachs forecasts upward trend for lithium prices

Woodside Energy (ASX: WDS)

• Woodside and Exxon pledge to supply gas to east coast market amid shortfall fears
• Fortescue Metals founder decries Woodside’s decision to commence seismic testing of Scarborough gas project
• Plans to collaborate with South Korean utilities giant to explore potential offtake deals and investments in hydrogen and ammonia projects

BHP (ASX: BHP)

• BHP to suspend operations at WA nickel processing plant from June
• Announces new WA iron ore president
• BHP share price drops following lacklustre Q2 results

Paladin Energy (ASX: PDN)

• Paladin Energy shares skyrocket 10%, hitting decade high
• Shares rally on news that US govt. plans to build domestic uranium supply
• Paladin’s Langer Heinrich Mine to return to production in 2024

Fortescue Metals (ASX: FMG)

• Share price drops from record highs upon news of iron ore derailment
• Fortescue founder shuts WA nickel mines bought for AU$760 million just six months ago
• Fortescue share price rose 42% in 2023

Macquarie Group (ASX: MQG)

• Macquarie raises AU$8.72 billion for new European infrastructure fund
• Long-term equities chair steps down
• Macquarie to benefit from Blackrock’s acquisition of Global Infrastructure Partners

Boss Energy (ASX: BOE)

• Boss Energy reports high-grade uranium results at SA site
• Uranium price hits highest level since 2007, fuelling ASX nuclear rally
• Reports positive developments at proposed Alta Mesa project acquisition

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FURTHER READING

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• How Sharesight calculates your investment performance
• Sharesight users' top trades in US, ASX and NZX stocks – December 2023