4 stocks sinking on the ASX today

The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has posted a strong gain to end the week on a high, closing at 5,431.3 – a gain of more than 1% for the day, and 2.5% for the week.

That didn’t help these four companies though…

Whitehaven Coal Ltd’s (ASX: WHC) share price slumped 9.1% to $2.40. That’s surprising given the company has rallied hard on the back of the zooming coking coal price. Coking coal is up 164% so far this year to more than US$200 a tonne as China lifted imports by 18% in 2016. However, it appears that the coal price may have peaked and some investors appear to be taking profits before the inevitable happens.

Charter Hall Group (ASX: CHC) share price fell 6.0% to $5.06 after John Gandell’s Gandell Group announced the block sale of 19.2% of Charter Hall’s shares to third party investors. The Gandell Group is increasing its focus on Vicinity Centre Re Ltd (ASX: VCX) and the Chadstone Shopping Mall, Australia and the Southern Hemisphere’s largest. Today’s fall in the share price may indicate that the shares were sold at a discount to the last closing price.

Liquefied Natural Gas Ltd (ASX: LNG) share s lost 6.3% to $0.595, despite no news from the LNG company. LNGL is constructing a number of LNG export terminals in North America, but appears to have hit some turbulence. Developments appear to have slowed, and it’s unclear when its Magnolia LNG plant will eventually be developed, particularly with oil prices so low.

Fortescue Metals Group Limited (ASX: FMG) share price dropped 3.9% to $4.96. The iron ore miner may just be seeing investors taking some profits, after the share price has rocketed up more than 160% so far this year. The iron ore price appears to have stabilised around US$55 a tonne – good news for Fortescue, which has lowered its production costs so it is profitable and paying dividends at the current price.

Are these companies a better buy?

Forget Whitehaven and Fortescue Metals. These 3 "new breed" top blue chips for 2016 pay fully franked dividends and offer the very real prospect of significant capital appreciation. Click here to learn more.

The report is free! No credit card required.

Motley Fool writer/analyst Mike King doesn't own shares in any companies mentioned. You can follow Mike on Twitter @TMFKinga

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.

Two New Stock Picks Every Month!

Not to alarm you, but you’re about to miss a very important event! Chief Investment Advisor Scott Phillips and his team at Motley Fool Share Advisor are about to reveal their latest official stock recommendation. The premium “buy alert” will be unveiled to members and you can be among the first to act on the tip.

Don’t let this opportunity pass you by – this is your chance to get in early!

Simply enter your email now to find out how you can get instant access.

By clicking this button, you agree to our Terms of Service and Privacy Policy. We will use your email address only to keep you informed about updates to our website and about other products and services we think might interest you. You can unsubscribe from Take Stock at anytime. Please refer to our Financial Services Guide (FSG) for more information.