Livewire published their Outlook Series Survey, in which nearly 5,000 people voted on which ASX stocks are expected to perform well in 2024.
I was curious to see how have they performed over the past 9 months (01 Jan - 31 Aug). Below is the total return breakdown.
The biggest gainer (first 9 months) is Telix, up 84.52%. In general, it has been a great year for health tech (WTC, PME, RMD), biotech (TLX) and big banks (CBA, NAB, WBC, ANZ).
Telix has been on the tear this year. The company’s prostate cancer imaging agent, Illuccix®, has continued to drive significant revenue growth, particularly in the United States.
While it’s been a roller coaster ride for Resmed, especially due to concerns about the growing success of Ozempic and other GLP-1 drugs.
On the other hand, it hasn’t been a kind year for the resource and mining sectors, impacted by China’s slower growth, lower iron ore prices, and the free fall in lithium prices.
The biggest loser is Mineral Resources, down 42.23%. Several factors contributed to this poor return, including a decline in NPAT, high debt, volatile commodity prices, and the shutdown of iron ore operations at the Yilgarn Hub.
CSL, the most-tipped stock in the survey, has done decently well, returning 7.78%.
Were you surprised by the YTD performance?