Why these 4 ASX shares are ending the week in the red

It certainly has been a solid end to the week for the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO). In afternoon trade the benchmark index is up almost 1% to 5,792 points.

Unfortunately not all shares on the market have been able to climb higher today. Here are four shares which are ending the week in the red:

The AGL Energy Ltd (ASX: AGL) share price has tumbled 3.5% to $26.00 after a research note out of Macquarie revealed that its analysts have downgraded the energy provider’s shares to an underperform rating with a $24.30 price target. While I do like the company, I think the strong rally in its share price this year has left it in overvalued territory.

The St Barbara Ltd (ASX: SBM) share price has fallen 4% to $2.82 today. This is despite an announcement from the gold miner late yesterday stating that it had locked in 50,000 ounces of forward gold contracts. These will be delivered in monthly instalments from July 2017 to June 2018 at a forward price of A$1,730 per ounce. The current spot price for gold is US$1,261 (A$1,701) an ounce.

The TPG Telecom Ltd (ASX: TPM) share price has dropped 3% to $5.59 after Goldman Sachs downgraded the telco company’s shares to a neutral rating with a $6.40 price target. The investment bank’s preferred pick in the telco industry appears to be Telstra Corporation Ltd (ASX: TLS). It has just upgraded the telco giant to a buy rating.

The Yowie Group Ltd (ASX: YOW) share price has plunged 6.5% to 36 cents after the confectionery company advised that a non-binding mediation session between it, the Whetstone Chocolate Factory, and the Atlantic Candy Company had failed to deliver a satisfactory outcome. The case for an alleged breach of its manufacturing agreement is now expected to go to trial towards the end of the year.

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Motley Fool contributor James Mickleboro has no position in any stocks mentioned. The Motley Fool Australia owns shares of Telstra Limited and TPG Telecom Limited. 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.

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