MENU

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

In afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has managed to bounce back from heavy early declines but still sits lower. At the time of writing the index is down almost 0.1% to 6,053.2 points.

Four shares that have acted as a drag on the market today are listed below. Here’s why they are ending the week in the red:

The Accent Group Ltd (ASX: AX1) share price is down almost 4% to $1.52. This morning the footwear retailer’s shares were downgraded to a reduce rating with a $1.39 price target by analysts at Morgans. According to the note, the broker felt that Accent’s shares were too expensive after a strong run over the last 12 months. While its shares are by no means a bargain buy, I wouldn’t be a seller if I owned them.

The Aurelia Metals Ltd (ASX: AMI) share price has fallen over 4% to 56 cents after advising that Pacific Road Capital has sold its entire holding in the company to a range of existing and new institutional investors overnight. The sale was for 313.7 million shares or 36.7% of the company, but no details on the sell price have been disclosed at this point.

The Aurizon Holdings Ltd (ASX: AZJ) share price has dropped 3.5% to $4.17. Today’s decline could be attributable to a broker note out of Goldman Sachs late yesterday. According to the note, the broker has reiterated its sell rating and $4.01 price target due to concerns that there is an increased likelihood that Aurizon will see its earnings and dividend decline because of an unfavourable UT5 outcome.

The Retail Food Group Limited (ASX: RFG) share price has continued its decline and is down a further 5% to 63.5 cents. The bad news keeps flowing for this embattled food and beverage company. This morning S&P Dow Jones Indices released its changes to its S&P/ASX indices for June 18, with Retail Food Group one of three shares kicked out of the benchmark S&P/ASX 200.

7 of 8 People Are Clueless About This Trillion-Dollar Market

One of our investors has recently returned from a research trip to Silicon Valley... and has a warning for fellow investors:

Because he works for an organization dedicated to spreading great investing ideas, his video report is free today... so you can see it and decide for yourself.

Don't miss your chance click here to learn about this warning and how you might be able to profit!

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 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…

Including:

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!