What’s with the Hawsons Iron share price on Monday?

An older woman with grey hair and wearing glasses looks at her laptop screen with her hand outstretched to demonstrate that she doesn't understand why the Appen share price has gone down todayAn older woman with grey hair and wearing glasses looks at her laptop screen with her hand outstretched to demonstrate that she doesn't understand why the Appen share price has gone down today

It’s been a rather disappointing start to the trading week so far for ASX shares and the All Ordinaries Index (ASX: XAO). This Monday has seen the All Ords lose 0.16% of its value at the time of writing, putting it around the 7,000 point mark. But it’s been even more disappointing for the Hawsons Iron Ltd (ASX: HIO) share price.

Hawsons Iron shares are presently trading at 41.8 cents each, down a nasty 2.91% from where the company closed last week. Rather perplexingly, this sharp move downwards comes after Hawsons initially spiked to 44 cents a share (up more than 2%) soon after market open today.

So what’s going on here?

Why is the Hawsons Iron share price lagging other ASX iron miners today?

Well, it’s a strange move to be sure. The iron ore price itself (normally a barometer for iron miners like Hawsons) is having a very strong start to the week.

As my Fool colleague Aaron covered this morning, the iron price is today fetching US$104.55 a tonne, up a pleasing 5.9% from where it was at the end of last week. As one would expect, many ASX iron mining shares are surging amid these pricing moves.

Take Fortescue Metals Group Limited (ASX: FMG). Fortescue shares are advancing decisively today, currently up 1.46% at $18.09 each. BHP Group Ltd (ASX: BHP) is also rising, up 1.63% at $37.35 a share.

So it’s unclear why Hawsons Iron shares are missing out on this party. Hawsons hasn’t put out any ASX announcements or any other news that might be dragging on its share price. Perhaps, after rising more than 144% in 2022 thus far, investors aren’t willing to extend Hawsons any more rope at this time. But it’s hard to know for sure.

In the meantime, the current Hawsons Iron share price gives this ASX mining share a market capitalisation of $309.4 million.

The post What’s with the Hawsons Iron share price on Monday? appeared first on The Motley Fool Australia.

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Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. 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 Scott Phillips.

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