Here's why these 4 ASX shares were hammered today

OceanaGold Corporation (ASX:OGC) was one of the biggest losers today after a drop in the gold price. Here's why the other three shares fell…

| More on:
a woman

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

So far today the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has followed the lead of international markets and is lower by 0.5% to 5,455 points.

Four shares which have been having particularly bad days today and have dropped significantly lower are as follows:

Clean TeQ Holdings Limited (ASX: CLQ) shares have fallen almost 6% to 55.5 cents after the release of an update related to its Syerston nickel and cobalt pre-feasibility study. Although management believes the study has demonstrated the potential for an extremely robust project, the market's reaction would indicate that it was expecting more from it.

Japara Healthcare Ltd (ASX: JHC) shares have dropped a massive 7.4% to $1.862 after rival aged care operator Estia Health Ltd (ASX: EHE) placed its shares in a trading halt as it prepares an update on its first quarter of FY 2017. Judging by the sell-off in Japara Healthcare and other aged care operators, the market is anticipating bad news out of Estia Health.

OceanaGold Corporation (ASX: OGC) has been the worst performing gold miner today with a drop of 13.8% to $3.63. A sizeable drop in the gold price overnight led to the gold miners being sold off. This is the second time in just over a week that OceanaGold's shares have been crushed. Last week they dropped by a similar level after its Didipio mine was threatened with closure. Traders that were hoping for a quick rebound from that decline will have unfortunately been caught out today.

Syrah Resources Ltd (ASX: SYR) shares have plummeted 21% to $3.41 after the surprise resignation of its managing director Mr Tolga Kumova. The leading graphite producer has described the resignation as part of a transition that reflects the company's evolving strategic direction. If everything is okay behind the scenes, then I feel Syrah could be worth further investigation for investors looking for exposure to the lithium boom.

Motley Fool contributor James Mickleboro has no position in any stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on ⏸️ Investing

Close up of baby looking puzzled
Retail Shares

What has happened to the Baby Bunting (ASX:BBN) share price this year?

It's been a volatile year so far for the Aussie nursery retailer. We take a closer look

Read more »

woman holds sign saying 'we need change' at climate change protest
ETFs

3 ASX ETFs that invest in companies fighting climate change

If you want to shift some of your investments into more ethical companies, exchange-traded funds can offer a good option

Read more »

a jewellery store attendant stands at a cabinet displaying opulent necklaces and earrings featuring diamonds and precious stones.
⏸️ Investing

The Michael Hill (ASX: MHJ) share price poised for growth

Investors will be keeping an eye on the Michael Hill International Limited (ASX: MHJ) share price today. The keen interest…

Read more »

ASX shares buy unstoppable asx share price represented by man in superman cape pointing skyward
⏸️ Investing

The Atomos (ASX:AMS) share price is up 15% in a week

The Atomos (ASX: AMS) share price has surged 15% this week. Let's look at what's ahead as the company build…

Read more »

Two people in suits arm wrestle on a black and white chess board.
Retail Shares

How does the Temple & Webster (ASX:TPW) share price stack up against Nick Scali (ASX:NCK)?

How does the Temple & Webster (ASX: TPW) share price stack up against rival furniture retailer Nick Scali Limited (ASX:…

Read more »

A medical researcher works on a bichip, indicating share price movement in ASX tech companies
Healthcare Shares

The Aroa (ASX:ARX) share price has surged 60% since its IPO

The Aroa (ASX:ARX) share price has surged 60% since the Polynovo (ASX: PNV) competitor listed on the ASX in July.…

Read more »

asx investor daydreaming about US shares
⏸️ How to Invest

How to buy US shares from Australia right now

If you have been wondering how to buy US shares from Australia to gain exposure from the highly topical market,…

Read more »

⏸️ Investing

Why Fox (NASDAQ:FOX) might hurt News Corp (ASX:NWS) shareholders

News Corporation (ASX: NWS) might be facing some existential threats from its American cousins over the riots on 6 January

Read more »