Evolution Mining is expected to headline a flurry of changes to the ASX’s biggest indices as gold producer stocks soar amid investor interest in the precious metal as a haven from broader market turmoil.
Evolution, which has mines around the country, is set to join the S&P/ASX 50 index in the ASX’s quarterly rebalance, to be announced next Friday and take effect a fortnight later. The company’s share price has soared 84 per cent this year, and it will replace PLS, the lithium producer known until recently as Pilbara Minerals, according to Morgan Stanley analysts.
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