ASX mining shares were the star performers last quarter, with the basket coming clearly out on top.
The S&P/ASX 300 Metal & Mining Index (ASX: XMM) gained 14.7% between December 31 and March 31. The S&P/ASX 200 Materials Index (ASX: XMJ) also rose by 11.9% during the period. In contrast, the broader S&P/ASX 200 Index (ASX: XJO) edged just 0.74% higher.
While some names flourished and kept the sector easily afloat, it wasn’t bonanza shareholder returns for everyone involved.
Here are the laggards of the mining sector for the three months of trade to 31 March 2022.
Underperforming ASX mining shares last quarter
We’ll talk in terms of percentage change for the quarter, as the list differs when talking in terms of points and dollars.
Taking out the top spot for ASX mining laggards is Australian Strategic Materials (ASX: ASM), which slid 28.8% for the three months. This was followed closely by Chalice Mining Ltd (ASX: CHN) with a 26.3% loss.
Perenti Global Ltd claimed third spot, falling 19.35%.
Perhaps surprisingly, nickel player Nickel Mines Ltd (ASX: NIC) saw an 11.9% down-step too. Even as nickel prices surged to record heights in the quarter, the company’s relationship with a large nickel supplier and trader had the market nervous about the stock.
Not all the laggards were in the red, however. Further down the list are shares such as Alumina Limited (ASX: AWC) with a 7.5% gain. That’s not bad, but not great compared to the other winners.
One of the larger ASX mining shares, Pilbara Minerals Ltd (ASX: PLS), finished flat for the quarter.
Below are the top 10 underperforming ASX mining shares for the March quarter in table form.
| Ticker | Company Name | Quarterly return (%) |
| ASM | Australian Strategic Materials | -28.8 |
| CHN | Chalice Mining Ltd | -26.35 |
| PRN | Perenti Global Ltd | -19.35 |
| RSG | Resolute Mining Limited | -15.38 |
| INR | Ioneer Ltd | -13.75 |
| SFR | Sandfire Resources Ltd | -13.68 |
| NIC | Nickel Mines Ltd | -11.89 |
| RMS | Ramelius Resources Limited | -8.28 |
| IMD | Imdex Limited | -8.14 |
The post All that glitters isn’t gold: Here are the worst performing ASX mining shares of the quarter appeared first on The Motley Fool Australia.
Wondering where you should invest $1,000 right now?
When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.
*Returns as of January 12th 2022
More reading
- How did ASX lithium shares perform today?
- Here are the 3 most heavily traded ASX 200 shares on Monday
- Why A2 Milk, Ionic Rare Earths, Pilbara Minerals, and Tyro shares are dropping
- ASX 200 midday update: IGO increases Western Areas offer, BlueScope makes US acquisition
- Pilbara Minerals share price higher on lithium conversion facility update
Motley Fool contributor Zach Bristow has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Imdex Limited. The Motley Fool Australia owns and has recommended Imdex Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
from The Motley Fool Australia https://ift.tt/WHrlauw
Leave a Reply