Here are 3 ASX 200 shares tumbling to new 52-week lows today

Overall, it’s been a rather happy day for ASX shares so far this Thursday. At the time of writing, the S&P/ASX 200 Index (ASX: XJO) is gaining a robust 0.4% and is back over 6,640 points.

But that goodwill hasn’t extended to all ASX shares. In fact, there are now three ASX 200 shares that have already hit new 52-week lows today. Let’s check them out.

3 ASX 200 shares hitting new 52-week lows today

Sandfire Resources Ltd (ASX: SFR)

Our first ASX 200 share to check out is copper miner Sandfire Resources. Sandfire shares are down 0.77% at the time of writing to $3.86 a share. But earlier today, this miner dropped as low as $3.79. That’s this company’s new 52-week low.

Sandfire shares are now down 43% in 2022 so far. This appears to be the result of copper prices sinking to near-two-year lows in recent weeks, which is obviously bad news for Sandfire.

Pendal Group Ltd (ASX: PDL)

Our next share worth taking a look at is Pendal Group. This fund manager has had a wild few months. It was over $5 a share at the start of June but has since dipped to the new 52-week low of $4 that we saw earlier this morning. This is all despite the absence of any major news or developments out of the company for some time.

Pendal even impressed investors when its interim results were released back in May, which saw the company post a 59% surge in underlying profits. So clearly investors have deduced that things are less rosy for Pendal today. At the time of writing, the Pendal share price is down 2.27% at $4.10.

Bega Cheese Ltd (ASX: BGA)

Our third ASX 200 share today is none other than Bega Cheese. This consumer staples company has had a clanger today, with the Bega Cheese share price down a nasty 7.61% at the time of writing at $3.28 a share.

Earlier this morning, Bega dipped as low as $3.20, which is now the company’s new 52-week low. In this case, it seems the trading update the company released this morning is responsible for this latest low.

As we covered at the time, Bega announced that its farm gate milk prices in Victoria have jumped 30% over FY 2022’s prices, which is more than the rise of 15-20% that it previously expected. Investors obviously haven’t taken kindly to this news, and have evidently punished Bega shares accordingly.

The post Here are 3 ASX 200 shares tumbling to new 52-week lows today appeared first on The Motley Fool Australia.

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More reading

• ASX 200 midday update: Telstra completes acquisition, Lake Resources and Bega Cheese sink
• Bega share price slides as milk prices skim away
• 5 things to watch on the ASX 200 on Thursday
• Here are the top 10 ASX shares today
• Here are the 3 most heavily traded ASX 200 shares on Wednesday

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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