Why these 4 ASX shares tumbled lower today

The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) may have given back its early gains, but still sits over 0.1% higher at 6,024 points in afternoon trade.

Four shares which haven’t been able to follow the market higher today are listed below. Here’s why they have tumbled lower:

The LiveHire Ltd (ASX: LVH) share price has fallen 7.5% to $1.28 following the release of its latest quarterly update. Although quarterly cash receipts grew 22% on the prior quarter to $541,000, investors appear concerned that it may not be able to live up to its lofty valuation. Whilst I am a fan of the company, I don’t think its cash receipts are yet reflective of the $20 billion global market opportunity it believes it has.

The Pilbara Minerals Ltd (ASX: PLS) share price has tumbled 5.5% to $1.00. The majority of the lithium miners have sunk into the red today after one of Macquarie’s equity analysts labelled them as the broker’s top short idea due to concerns over excess supply. Investors may want to look out for signs of weakening lithium prices over the coming months.

The Resolute Mining Limited (ASX: RSG) share price is down 2.5% to $1.13 after the gold price sank overnight. The spot gold price is currently fetching US$1,325 an ounce, down 1.4% from its high on Wednesday. I think there could be further declines to come over the next few months as U.S. rates rise and bond yields widen.

The Whitehaven Coal Ltd (ASX: WHC) share price has dropped 5% to $4.55 after the coal miner downgraded its full-year production guidance by between 7% and 9%. This is due to issues with the roof at one of its key assets. As a result of the downgrade, Whitehaven copped a downgrade by Citi. The broker rates its shares as a sell with a $4.20 price target.

Need a lift? Then don't miss out on these stunning shares.

Top 3 ASX Blue Chips To Buy In 2018

For many, blue chip stocks mean stability, profitability and regular dividends, often fully franked..

But knowing which blue chips to buy, and when, can be fraught with danger.

The Motley Fool’s in-house analyst team has poured over thousands of hours worth of proprietary research to bring you the names of "The Motley Fool’s Top 3 Blue Chip Stocks for 2018."

Each one pays a fully franked dividend. Each one has not only grown its profits, but has also grown its dividend. One increased it by a whopping 33%, while another trades on a grossed up (fully franked) dividend yield of almost 7%.

The names of these Top 3 ASX Blue Chips are included in this specially prepared free report. But you will have to hurry. Depending on demand – and how quickly the share prices of these companies moves – we may be forced to remove this report.

Click here to claim your free report.

Motley Fool contributor James Mickleboro has no position in any of the 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.

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!