These were the worst performing ASX 200 shares in March

These ASX 200 shares were out of form last month…

| More on:
asx share price falling lower represented by investor wearing paper bag on head with sad face

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The S&P/ASX 200 Index (ASX: XJO) was well and truly on form in March. The benchmark index stormed 6.4% higher over the month to end at 7,499.6 points.

Unfortunately, not all shares were able to follow the market’s lead. Here’s why these were the worst performers on the ASX 200 last month:

Nickel Mines Ltd (ASX: NIC)

The Nickel Mines share price was the worst performer on the ASX 200 last month with a 21.2% decline. Investors were selling this nickel miner’s shares amid concerns over its ties with stainless steel giant Tsingshan. During the month, Tsingshan was caught up in a huge nickel short squeeze, which reportedly could have led to billions in losses. As Tsingshan is the company’s largest shareholder and one of its biggest customers, there were fears that this could lead to share sales or sales contract terminations.

Westgold Resources Ltd (ASX: WGX)

The Westgold share price wasn’t far behind with a 17.4% decline last month. This was driven largely by the gold miner’s $100 million institutional placement. Westgold raised the funds at a 13.9% discount of $2.44 per new share. These funds will be used to accelerate the company’s Murchison and Bryah growth strategy. This strategy is focused on establishing a systematic pathway towards a +400,000 ounce per annum gold production rate from FY 2024.

Zip Co Ltd (ASX: Z1P)

The Zip share price was out of form again in March and dropped 13.4%. Ongoing bearish investor sentiment in the buy now pay later industry continues to weigh on the company’s shares. Among the most bearish is the team at UBS, which downgraded Zip’s shares to a sell rating and cut the price target on them by 80% to just $1.00 at the start of the month. Not even heavy insider buying was enough to take the Zip share price higher in March.

Fisher & Paykel Healthcare Corp Ltd (ASX: FPH)

The Fisher & Paykel Healthcare share price was a poor performer and tumbled 12.8% last month. This was driven by the release of a trading update out of the medical device company. Fisher & Paykel Healthcare advised that easing COVID tailwinds mean that it expects FY 2022 operating revenue in the range of NZ$1.675 billion to NZ$1.70 billion. This represents a 13.7% to 15% year on year decline from NZ$1.97 billion in FY 2021. It also warned that higher freight costs would impact margins.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns and has recommended ZIPCOLTD FPO. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Share Fallers

Close up of a sad young Caucasian woman reading about Leigh Creek Energy's declining share price on her phone
Share Fallers

Why Beach, Bendigo and Adelaide Bank, Opthea, and Paradigm shares are sinking

These ASX shares are having a bad start to the week...

Read more »

A male investor wearing a blue shirt looks off to the side with a miffed look on his face as the Electro Optic Systems share price declines today on news the CEO has resigned
Share Fallers

Why Baby Bunting, PointsBet, ResMed, and Suncorp shares are dropping today

These ASX shares are ending the week in the red...

Read more »

a woman looks exhausted and overwhelmed as she slumps forward into her hand while looking at her laptop screen.
Share Fallers

Why AMP, OFX, Rio Tinto, and Telstra shares are dropping

These ASX shares are missing out on the good times today...

Read more »

ASX shares downgrade A young woman with tattoos puts both thumbs down and scrunches her face with the bad news.
Share Fallers

Why A2 Milk, Appen, Boral, and REA shares are dropping today

These ASX shares are having bad days...

Read more »

A couple sit at a desk with tissues and tears in their eyes while they look at a laptop computer screen with a camera set up in the foreground suggesting they are making a video.
Technology Shares

What’s going so wrong for ASX 200 tech shares on Wednesday?

ASX 200 tech shares are leading the market's losses today. What's going on?

Read more »

A male investor wearing a blue shirt looks off to the side with a miffed look on his face as the Electro Optic Systems share price declines today on news the CEO has resigned
Share Fallers

Why Block, CBA, Mesoblast, and NAB shares are dropping today

These ASX shares are dropping on Tuesday...

Read more »

A woman with a sad face looks to be receiving bad news on her phone as she holds it in her hands and looks down at it.
Share Fallers

Why Alliance, Aurizon, MVP, and Suncorp shares are dropping today

These ASX shares are out of form on Monday...

Read more »

A person plunges into the pool with only their feet visible above the surface, diving through a heart-shaped inflatable ring.
Share Fallers

Here’s why the Medical Developments share price is sinking 17% on Monday

The share has caught sellers attention today.

Read more »