Why these 4 ASX shares have dropped lower today

In afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has rebounded strongly from yesterday’s heavy decline and is up 0.7% to 5,830 points.

Four shares that have failed to follow the market higher today are listed below. Here’s why they have dropped lower:

The Class Ltd (ASX: CL1) share price is down 3% to $2.36 despite there being no news out of the cloud-based SMSF accounting software provider. Investors continue to sell the company’s shares after the release of a weak half-year result in February. This has left its shares trading within a whisker of their 52-week low.

The Fortescue Metals Group Limited (ASX: FMG) share price has fallen 1% to $4.56 after the iron ore producer advised the market that the discount between its iron ore and the benchmark 62% fines is expanding. According to the release, Fortescue has amended its iron ore price guidance to reflect an expected contractual realisation of approximately 65% of the average benchmark Platts 62 CFR index. In the first-half the company reported prices that were 68% of the benchmark.

The Newcrest Mining Limited (ASX: NCM) share price has dropped 2% to $19.80 after the gold miner provided an update on its Cadia operation. According to the release, Newcrest has restarted production at Cadia but not processing activities. Management is working on alternative solutions for its future processing and is unlikely to update its guidance until a plan is in place. I would suggest investors stay clear of Newcrest due to this issue and rising rates in the United States.

The Northern Star Resources Ltd (ASX: NST) share price has fallen 2% to $6.82. A good portion of today’s decline can be attributed to the gold miner’s shares going ex-dividend this morning for its fully franked 4.5 cents per share interim dividend. Eligible shareholders can now look forward to receiving this in their nominated accounts on April 13.

Need a lift after these declines? Then don't miss out on these top growth shares destined for big things in 2018.

The Disruptors: 3 Revolutionary Aussie Companies to Back for 2018

We’re living in one of the most exciting times in investing history. Innovation and a booming culture of entrepreneurship are constantly creating new companies with the potential to make forward-thinking investors very rich. Now more than ever, one small, smart investment could make a huge difference to your wealth.

That’s why at The Motley Fool we’ve been scrutinizing the ASX to uncover the kinds of companies that we believe could turn into the next Cochlear or REA Group.

We’ve found three exciting companies that we believe re poised to perform in the new year. Click here to uncover these ideas!

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of Class 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 Scott Phillips.

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!