Why Northern Star, OFX, Sigma, & St Barbara dropped into the red today

The Sigma Healthcare Ltd (ASX:SIG) share price and the St Barbara Ltd (ASX:SBM) share price are two of four ending the week deep in the red. Here's why…

| More on:

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

a woman

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.

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.

More on Share Fallers

A businesswoman pulls her glasses down in shock to look at the bad news on her computer.
Share Fallers

Why Bank of Queensland, Brainchip, Pilbara Minerals, and Yancoal shares are sinking today

These ASX shares are being hammered on Tuesday.

Read more »

a middle-aged woman holds up two fingers with a wide mouthed smile on her face and wide open eyes.
Share Fallers

'Top quality': Expert picks 2 ASX 200 shares to buy at a nice discount

These stocks are down but not out. One portfolio manager is convinced they'll make you richer in the long run.

Read more »

a group of business people sit dejectedly around a table, each expressing desolation, sadness and disappointment by holding their head in their hands, casting their gazes down and looking very glum.
Share Fallers

Why Atlantic Lithium, Arafura, Brainchip, and Core Lithium shares are falling

These ASX shares are starting the week in the red.

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 Atlantic Lithium, CBA, Piedmont Lithium, and Pilbara Minerals shares are dropping

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

Read more »

Woman looking at her smartphone and analysing share price.
Share Fallers

Golden buying opportunity for 2 ASX shares slashed last month: Celeste

Here's a pair of businesses that are going pretty strong but whose stock prices are in a dip, ready now…

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 29Metals, BHP, Helia, and Rio Tinto shares are dropping today

Here's why these ASX shares are weighing on the market's performance on Thursday.

Read more »

a woman holds her hands to her temples as she sits in front of a computer screen with a concerned look on her face.
Share Fallers

Why Nuix, Smartgroup, Ventia, and Woodside shares are dropping today

These ASX shares are having a tough time on the ASX boards on Wednesday.

Read more »

A woman looks distressed as she stares dramatically at her phone
Share Fallers

Why Brainchip, Lynas, Megaport, and Universal Store shares are dropping today

These ASX shares are having a tough time on Tuesday.

Read more »