The Beadell Resources Ltd (ASX: BDR) share price has been amongst the worst performers on the market today.
In afternoon trade the gold miner’s shares are down almost 8% to a 52-week low of 18 cents. Unfortunately for its shareholders, this means its shares have now lost a third of their value year-to-date.
Why have its shares fallen so much?
Beadell Resource’s shares came under heavy selling pressure earlier this year following a disappointing quarterly update in April.
During the quarter the company’s all-in sustaining cost (AISC) rose 29% to US$1,161 an ounce from US$902 an ounce in the March quarter of 2016.
As the miner sold 30,476 ounces during the quarter at an average cash price of US$1,221 per ounce, the company was pocketing just US$60 an ounce.
With Beadell’s next quarterly update due in the coming days, judging by the share price decline today it appears as though some investors are worried that its margins may have deteriorated further.
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Motley Fool contributor Motley Fool Staff 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.