The benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is on course to finish the week with a bang. At the time of writing the index is up 0.8% to 6,216.8 points.
Four shares that have failed to follow the market higher today are listed below. Here’s why they are ending the week in the red:
The Northern Star Resources Ltd (ASX: NST) share price has fallen 3.5% to $8.69. Almost all of Australia’s leading gold miners have dropped lower on Friday after positive market sentiment led to investors rotating out of risk off assets. This has been driven by dovish comments out of the U.S. Federal Reserve and has led to the S&P/ASX All Ords Gold index trading 3% lower at the time of writing.
The OFX Group Ltd (ASX: OFX) share price has fallen again, this time by 2% to $1.74. The foreign exchange transfer company’s shares have been sold off this week after the release of a disappointing trading update. Management warned of challenging market conditions and a lack of active client growth.
The Sigma Healthcare Ltd (ASX: SIG) share price has continued its slide and is down a further 2.5% to 53 cents. Its shares have come under pressure this month after it rejected a merger proposal last week and released a disappointing full year result on Thursday. Its shares were dealt another blow this morning when UBS downgraded them to a sell rating with a 45 cents price target.
The St Barbara Ltd (ASX: SBM) share price has crashed 30% lower to $3.25 after downgrading its production guidance and releasing the results of its feasibility study. In respect to the latter, management advised it would have to keep using trucking to extract gold from its 123-year-old Gwalia mine in Western Australia. It had hoped to use two methods involving hydraulic hoisting to extend the mine’s life, but a study found that ventilation and pumping issues made those methods unfeasible.
These 3 stocks could be the next big movers in 2020
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