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.
Does your portfolio need a lift after these declines? Here are three growth shares tipped as potential market beaters.
For many, blue chip stocks mean stability, profitability and regular dividends, often fully franked...
But knowing which blue chips to buy, and when, can be fraught with danger.
The Motley Fool’s in-house analyst team has poured over thousands of hours worth of proprietary research to bring you the names of "The Motley Fool’s Top 3 Blue Chip Stocks for 2019."
Each one pays a fully franked dividend. The names of these Top 3 ASX Blue Chips are included in this specially prepared free report. But you will have to hurry. Depending on demand – and how quickly the share prices of these companies move – we may be forced to remove this report.
Click here to claim your free report.
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.