MENU

Why these 4 ASX shares have tumbled lower today

In afternoon trade the benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has stormed higher despite heavy declines on Wall Street overnight. At the time of writing the local market is up 0.8% to 6,150.1 points.

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

The Argosy Minerals Limited (ASX: AGY) share price has given back some of its recent gains and dropped over 5% lower to 26.5 cents. The prospective lithium miner’s shares rallied higher on Monday and Tuesday following the release of two positive announcements. It appears that investors are taking a bit of profit off the table today.

The Coca-Cola Amatil Ltd (ASX: CCL) share price has dropped almost 3% to $8.89. This morning a broker note out of Ord Minnett revealed that its analysts have downgraded the beverage company’s shares to a lighten rating from hold with an $8.25 price target. The broker appears disappointed that its performance in Indonesia is not improving. I would have to agree with this view and would only consider buying shares if they were closer to the $7 mark.

The Greencross Limited (ASX: GXL) share price has fallen almost 4% to $4.22. Today’s decline is likely to be attributable to a broker note out of Deutsche Bank which voiced concerns over the integrated pet care company’s roll out of in-store clinics. The broker has a sell rating and $3.70 price target on Greencross’ shares.

The Telstra Corporation Ltd (ASX: TLS) share price has tumbled over 5% to $2.76 after the telco giant held its investor day. The market appears to have been disappointed with Telstra’s medium-term plans and its failure to give any guidance for its FY 2019 dividend. Further, management’s FY 2019 underlying EBITDA guidance of $8.7 billion to $9.4 billion is around 15% below consensus estimates if the mid-point of the guidance is used.

Forget Telstra and check out our #1 dividend pick for FREE here!

Financial year 2018 is here and The Motley Fool’s dividend detective Andrew Page has revealed his must buy dividend share to grow your wealth in 2018.

You might not know this market leader's name, but it's rapidly expanding into a highly profitable niche market here in Australia. Even better, the shares boast a strong, fully franked dividend that should balloon in the years to come. In other words, we're looking at the holy grail of incredible long-term growth potential AND income you can watch accruing in your account in real time!

Simply click here to grab your FREE copy of this up-to-the-minute research report on our #1 dividend share recommendation now.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Greencross Limited and Telstra Limited. The Motley Fool Australia has recommended Coca-Cola Amatil 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…

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!