The Motley Fool

Why Baby Bunting, Heron Resources, Jumbo, & Silver Lake shares dropped lower

In afternoon trade on Tuesday the S&P/ASX 200 index is on course to continue its strong run. At the time of writing the benchmark index is up 0.55% to 6,600.5 points.

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

The Baby Bunting Group Ltd (ASX: BBN) share price has dropped 9.5% to $3.37 on the day of its annual general meeting. Ahead of the meeting the baby products retailer released a trading update which revealed that it has reiterated its earnings growth guidance for FY 2020. However, it did warn that it has had issues with its online business, but expects its sales growth momentum on the platform to continue to build as the year goes on.

The Heron Resources Ltd (ASX: HRR) share price has crashed 49% 19.5 cents after being suspended for almost two months. This morning the mineral exploration company’s shares returned to trade after it raised $11.5 million through the issue of 57,584,627 ordinary shares to institutional investors at 20 cents per share. The funds will provide additional financial support in connection with the ongoing ramp-up of the Woodlawn Project to nameplate capacity, repay a portion of its outstanding loan, and provide working capital.

The Jumbo Interactive Ltd (ASX: JIN) share price has fallen 3.5% to $25.94 despite there being no news out of the online lottery ticket seller. However, prior to today, Jumbo’s shares were up 268% in 2019, which could mean that some investors are taking profit off the table today. Investors have been buying its shares this year after it delivered another very impressive full year result in August.

The Silver Lake Resources Limited (ASX: SLR) share price have tumbled 4% to 90.2 cents. Investors have been selling the gold miner’s shares today after the spot gold price dropped almost 1% lower overnight. This left the precious metal trading below the symbolic US$1,500 per ounce level again. In afternoon trade the S&P/ASX All Ords Gold index is trading 1% lower.

Need a lift after these declines? Then don't miss out on these top blue chips which have been tipped to climb higher.

Best Blue Chip Shares for 2020 – NOW AVAILABLE!

You’re invited! For a limited time, The Motley Fool Australia is giving away an urgent new investment report detailing our 3 TOP BLUE CHIP SHARES to own in 2019.

So if you like trustworthy, stable, high-performing companies that pay fat fully franked dividends – we’ve got you covered!

Stock #1 is a beloved old Australian company turning its attention to high-margin businesses... and rapidly returning cash to shareholders with its hefty dividend...

While Stock #2 is an online powerhouse that’s rapidly gaining market share all around the globe... poised for years (or even decades) of tremendous growth...

Even better, Stock #3 offers a whopping 6.5% grossed-up dividend! Which beats the rates on term deposits right out of the water – and offers the potential for capital gains, too.

You can discover all three shares inside our new report right now. To scoop up your FREE copy, simply click the link below right now. But you will want to hurry – this free report is available for a LIMITED TIME ONLY!

SimplyCLICK HERE FOR YOUR FREE REPORT!

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of and recommends Jumbo Interactive Limited. The Motley Fool Australia has recommended Jumbo Interactive 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.

FREE REPORT: Five Cheap and Good Stocks to Buy now…

Our Motley Fool experts have FREE report, detailing 5 dirt cheap shares that you can buy today.

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 near a 52-week low all while offering a 2.7% fully franked yield…

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

See for yourself now. Simply click 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!