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

A young man clasps his hand to his head with his eyes closed and a pained expression on his face as he clasps a laptop computer in front of him, seemingly learning of bad news or a poor investment.
Share Fallers

Why Burgundy Diamond Mines, Clarity Pharmaceuticals, EML, and Zip are sinking today

These ASX shares are ending the week in the red. But why?

Read more »

A worried man holds his head and look at his computer.
Share Fallers

Why 29Metals, Brainchip, Platinum, and Premier Investments shares are falling today

These ASX shares are having a tough time on hump day.

Read more »

Man with his head in his head because of falling share price.
Share Fallers

Why 29Metals, Atlas Arteria, IDP Education, and Mineral Resources shares are falling

These ASX shares are having a tough time on Tuesday. But why?

Read more »

A man sits in despair at his computer with his hands either side of his head, staring into the screen with a pained and anguished look on his face, in a home office setting.
Share Fallers

Why ALS, EOS, NRW, and Patriot Battery Metals are dropping today

These ASX shares are starting the week in the red.

Read more »

A man looking at his laptop and thinking.
Technology Shares

Why are these ASX tech shares getting smashed today?

Owners of these two stocks are missing out today.

Read more »

a man weraing a suit sits nervously at his laptop computer biting into his clenched hand with nerves, and perhaps fear.
Share Fallers

Why AGL, Brickworks, IGO, and New Hope shares are dropping today

These ASX shares are having a poor session. But why?

Read more »

Frustrated stock trader screaming while looking at mobile phone, symbolising a falling share price.
Share Fallers

Why Amcor, Arafura, Brainchip, and South32 shares are tumbling today

These ASX shares are having a tough time on hump day. But why?

Read more »

A young woman holds an open book over her head with a round mouthed expression as if to say oops as she looks at her computer screen in a home office setting with a plant on the desk and shelves of books in the background.
Share Fallers

Why Aussie Broadband, Liontown, Metals Acquisition, and Seek shares are falling

These ASX shares are having a poor session. But why?

Read more »