Why IGO, Lake Resources, Regis Resources and ResApp stocks charge more

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In the afternoon discussions, the S&P/ASX 200 Index (ASX:XJO) gave back its morning gains and fell into the red. As of this writing, the benchmark is down 0.1% to 7,471.9 points.

Four ASX stocks not holding them today are listed below. Here’s why they charge more:

IGO stock price rose more than 3% to $14.12. This follows news that the battery materials miner has increased its takeover bid for the nickel producer Western Regions Ltd. (ASX:WSA). IGO has agreed to increase its offer to $3.87 in cash per share, 15.2% higher than its previous proposal of $3.36 per share. This offer has been unanimously recommended by the Western Areas Board of Directors, subject to a number of customary conditions.

Lake stock price jumped 12% to $2.08. Investors bought shares of this lithium developer after it announced a non-binding lithium offtake agreement with auto giant Ford. This is the second deal Lake has signed in as many weeks, both for 25,000 tonnes per year of lithium carbonate from the Kachi operation in Argentina.

Regis Resources Limited (ASX: RRL)

Regis Resources stock price is up 4% at $2.12. In addition to being boosted by a rise in the price of gold, this morning the gold miner was the subject of a bullish brokerage rating from Credit Suisse. According to the rating, the broker maintained its outperform rating and raised its price target on the company’s stock to $2.60.

ResApp’s share price jumped 22% to 11 cents. The catalyst was news that healthcare giant Pfizer had filed a takeover bid. Pfizer offered 11.5 cents in cash per share, valuing the digital health company at $100 million. ResApp recently announced positive results for a new smartphone-based COVID-19 screening test.