It has been a positive start to the week for the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO). The benchmark index has bounced back from Friday's heavy decline and is up 0.5% to 5,733 points in afternoon trade.
Four shares which haven't been able to follow the market higher are listed below. Here's why they have started the week in the red:
The Beadell Resources Ltd (ASX: BDR) share price has fallen 4% to 18.7 cents following the release of the gold miner's quarterly report. Investors appear to be very disappointed with Beadell's all-in sustaining cost which rose to a massive US$1,558 per ounce during the quarter. This means it currently costs Beadell more per ounce to mine gold than the current spot price of US$1,268 an ounce.
The Oliver's Real Food Ltd (ASX: OLI) share price has tumbled 15% to 28 cents after the healthy fast food chain revised its full-year guidance. According to the release, it has become evident that the forecast loss for FY 2017 will be exceeded. Management now expects to post a net loss after tax of $3.2 million compared to the forecast loss of $2.4 million. FY 2018 guidance remains unchanged.
The Sandfire Resources NL (ASX: SFR) share price is down 3.5% to $5.75. Following the release of its quarterly update on Friday, analysts at Credit Suisse have reiterated their underperform rating and $4.65 price target on the miner's shares. According to the note, the investment bank believes subdued copper prices in the medium-term will negatively impact the company's future earnings.
The Treasury Wine Estates Ltd (ASX: TWE) share price has fallen 3.5% to $12.35 despite there being no news out of the wine company. I suspect this decline may be related to investors being concerned about the impact that the strong Australian dollar is having on its substantial international earnings.
