3 ASX stocks that were thumped yesterday

The S&P / ASX 200 Index (Index: ^AXJO) (ASX: XJO) managed to rise just 0.2% to close at 4,132.4 yesterday on media reports that Europe will release a road map to recovery and speculation of further stimulus from the US central bank.

Not exactly solid data to base your investing on. Any gains are likely to be short-lived, with fears likely to dash hopes and dump the markets on a day-to-day basis.

We’d rather focus on the long term anyway – these short-term blips will likely be forgotten in a week, compared to a multi-decade investment horizon.

Despite the market rise, these three stocks were thumped yesterday.

Integra Mining Ltd (ASX: IGR) was slammed down 7% to close at 40 cents, as investors may have realised that profits for this year may be affected due to mechanical problems at its Randalls gold project, near Kalgoorlie. Production has been halted for at least four days as the company tries to rectify issues with its processing plant.

Coalspur Mines Limited (ASX: CPL) fell 5.9% to close at 79.5 cents. Just two months ago, the stock was trading above $1.70. As I mentioned back in May 2012, Coalspur is developing a coal mine in Canada, which is expected to cost more than C$1bn, but the company has just $22m in cash in the bank at the end of March 2012, so shareholders can expect plenty more capital raisings to come.

Gryphon Minerals Limited (ASX: GRY) slipped 4.9% to close at 68.5 cents, just a day after rising 8.3%, as fear and optimism take turns influencing the market. Small ASX gold explorers and miners have seen massive volatility in their share prices in recent times, with Gryphon being no exception.

Other losers included Intrepid Mines Limited (ASX: IAU), down 4.7% to 50.5 cents, and Beadell Resources Ltd (ASX: BDR) down 4.4% to 64.5 cents.

If you’re in the market for some less risky, high yielding ASX shares, look no further than Secure Your Future with 3 Rock-Solid Dividend Stocks. In this free report, we’ve put together our best ideas for investors who are looking for solid companies with high dividends and good growth potential. Click here now to find out the names of our three favourite income ideas. But hurry – the report is free for only a limited time.

More reading

Motley Fool contributor Mike King doesn’t own shares in any companies mentioned. The Motley Fool ‘s purpose is to help the world invest, better.  Take Stock  is The Motley Fool’s  free  investing newsletter. Packed with stock ideas and investing advice, it is essential reading for anyone looking to build and grow their wealth in the years ahead.  Click here now  to request  your free subscription , whilst it’s still available. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The 5 mining stocks we’re recommending in 2019…

For decades, Australian mining companies have minted money for individual investors like you and me. But if you believe the pundits and talking heads on TV, those days are long gone. Finito! Behind us forever…

We say nothing could be further from the truth. To earn the really massive returns, you’ve got to fish where others aren’t fishing—and the mining sector could be primed for a resurgence. That’s why top Motley Fool analysts just revealed their exciting new research on 5 ASX miners they believe could help you profit in 2019 and beyond…


The best way we see to play the global zinc shortage… Our #1 favourite large-cap miner (hint: it’s not BHP)… one early-stage gold miner we think could hit the motherlode… Plus two more surprising companies you probably haven’t heard of yet!

For free access to our brand-new research, simply click here or the link below. But be warned, this research is available free for a limited time only, and we reserve the right to withdraw it at any time.

Click here for your FREE report!