The Motley Fool

Why the Ausdrill Limited (ASX:ASL) share price is still on the slide

Diversified mining company Ausdrill Limited’s (ASX: ASL) share price has seen better days – down 3.1% to $1.46 in early morning trade after a depressing week last week when its share price value plunged 8.2%.

Ausdrill announced it completed the acquisition of leading underground hard-rock mining contractor, Barminco, in late October – transforming it into the second-largest mining services company in Australia.

But investors were unimpressed, and even Ausdrill’s reiteration of its FY19 earnings guidance of between 20% and 30% underlying profit growth failed to boost its flailing share price.

Ausdrill’s mining service sector siblings are travelling along steadily, with Mineral Resources Limited (ASX: MIN) shares kicking off the week’s trading up 2% to $15.77 and Monadelphous Group Limited (ASX: MND) shares up 1.1% to $14.73.

NEW. The Motley Fool AU Releases Five Cheap and Good Stocks to Buy for 2020 and beyond!….

Our experts here at The Motley Fool Australia have just released a fantastic report, detailing 5 dirt cheap shares that you can buy in 2020.

One stock is an Australian internet darling with a rock solid reputation and an exciting new business line that promises years (or even decades) of growth… while trading at an ultra-low price…

Another is a diversified conglomerate trading over 40% off its high, all while offering a fully franked dividend yield over 3%...

Plus 3 more cheap bets that could position you to profit over the next 12 months!

See for yourself now. Simply click here or the link below to scoop up your FREE copy and discover all 5 shares. But you will want to hurry – this free report is available for a brief time only.

CLICK HERE FOR YOUR FREE REPORT!

Motley Fool contributor Carin Pickworth 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.