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The Jindalee Resources Ltd (ASX: JRL) share price soared today amid demerger news.

After emerging from a trading halt, Jindalee shares gained 13% in intraday trading before closing at $4.75 each, a 9.2% rise. In comparison, the S&P/ASX 200 Resources Index (ASX: XJR) closed 0.19% lower today.

Let’s take a look at what is happening at Jindalee.

US lithium focus

The mineral exploration company will position itself as a pureplay US lithium developer working on the McDermitt Lithium Project in Oregon.

Jindalee will separate its Australian assets and list as NewCo on the ASX.

Eligible Jindalee shareholders will receive a pro-rata distribution of NewCo shares at the record date.

The company said a strategic review of Jindalee’s portfolio found separating its Australian assets would maximise value for shareholders.

Jindalee also wants to accelerate exploration and development at the McDermitt Lithium Project, one of the biggest lithium deposits in the US.

Commenting on the news, chairman Justin Mannolini said:

The time is right for Jindalee to reposition itself as a pure-play US lithium developer. The board believes that the favourable political climate in the United States following bipartisan expressions of support for the development of an integrated domestic lithium-ion battery value chain, coupled with the well-known electric vehicle thematic, create the ideal backdrop for the proposed Demerger.

The new company

Newco will focus on exploring nickel, gold, and lithium at projects in Western Australia and Tasmania.

The current Jindalee CEO, Karen Wellman, will lead the NewCo team in the position of managing director.

The company hopes to complete the demerger in the September quarter, subject to approval.

Jindalee share price snapshot

The Jindalee share price has gained 70% in the past year while it has soared 115% year to date.

In the past month, the company’s shares have surged 67% although they have fallen 28% in the last week.

For perspective, the ASX 200 Resources Index has returned nearly 17% in the past year.

Jindalee has a market capitalisation of $270 million based on its current share price

The post Jindalee share price rockets 13% on USA lithium demerger news appeared first on The Motley Fool Australia.

More reading

• Jindalee (ASX:JRL) share price rockets 18% on ‘huge lithium’ find

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 Bruce Jackson.

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The ASX has plenty of mining companies, but which one is the biggest mining share?

Readers may have heard of a number of different miners that produce different commodities such as BHP Group Ltd (ASX: BHP), Rio Tinto Limited (ASX: RIO), Fortescue Metals Group Limited (ASX: FMG), Newcrest Mining Ltd (ASX: NCM), South32 Ltd (ASX: S32), Northern Star Resources Ltd (ASX: NST) and Mineral Resources Ltd (ASX: MIN).

The smallest on the list is Mineral Resources, an iron ore, lithium and mining services business. It has a market capitalisation of $11 billion according to the ASX.

There are some very large ASX mining companies on the ASX.

According to the ASX:

The Fortescue market capitalisation is $65 billion.

The Rio Tinto market capitalisation of $43.6 billion.

The BHP market capitalisation is $261 billion.

So, the winner is BHP.

Why is BHP so big?

The company produces a number of commodities through its assets including iron ore, copper, nickel, metallurgical coal, petroleum and potash.

It produces minerals in both Australia and the Americas.

To give a context of how much BHP is producing, in FY22 it’s expecting to produce between 1,590kt to 1,760kt of copper, between 249mt to 259mt of iron ore, between 38mt to 41mt of metallurgical coal and between 85kt to 95kt of nickel.

The ASX mining company has been making a lot of profit. In the six months to 31 December 2021, it revealed its ‘continuing operations’ numbers, which excludes the petroleum division it plans to divest. Continuing operations profit from operations was almost US$15 billion, while underlying attributable profit was US$9.7 billion. And that’s just for six months.

BHP has been raking in the cash thanks to the elevated commodity prices.

Investors can use those profit numbers to value the business at a multiple of the earnings.

According to Commsec, the BHP share price is valued at 10x FY22’s estimated earnings. While that is not a relatively high price-to-earnings ratio compared to many other S&P/ASX 200 Index (ASX: XJO) shares, it’s enough to give BHP a market cap of $261 billion.

How could the BHP business change in the future?

When BHP divests its petroleum business to Woodside Petroleum Limited (ASX: WPL), it will no longer own those assets and it won’t be entitled to that profit.

However, the ASX mining company will continue to own its iron ore mines and all the other assets. Plus, the business is working on expanding its potash asset in Canada – the Jansen project. This is planned to be the largest potash-producing mine in the world.

Potash is seen as a greener fertiliser. BHP points to the tailwind of a rising global population as to why it’s an interesting commodity that could see growing demand:

The global population is projected to keep rising in coming decades. That means more mouths to feed, more affluent diets and growing strain on a finite land supply.

BHP share price snapshot

Since the start of the 2022 calendar year, the BHP share price has climbed 22%.

The post What is the biggest mining company on the ASX right now? appeared first on The Motley Fool Australia.

More reading

• These are the 2 best ASX dividend shares to buy right now: fund manager
• ASX mining shares were the leaders last quarter. Here are the top performers
• BHP and Woodside one step closer in creating $40 billion energy giant
• If you’d bought $10,000 of BHP shares 5 years ago, here’s what you’d have now
• 5 things to watch on the ASX 200 on Friday

Motley Fool contributor Tristan Harrison owns Fortescue Metals Group Limited. 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 Bruce Jackson.

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The phrase ‘highest-ever share price’ might not feel too comfortable for shareholders of AGL Energy Limited (ASX: AGL). After all, it’s been a long time since this ASX blue chip and old stalwart of the S&P/ASX 200 Index (ASX: XJO) has seen an all-time high.

At the closing bell today, the AGL share price is sitting at $8.58, up 2.02% for the day. To be fair, that is a substantial improvement from the share price of $5.10 that we saw only a few months ago. That was a new 52-week low for AGL at the time. But it was also the lowest share price AGL had traded at for at least two decades.

So at today’s numbers, AGL shares are now up a healthy 39% or so in 2022 so far. Saying that, the company is still down more than 11% over the past 12 months, and almost 50% from the lows we saw back in the COVID crash of 2020.

But let’s now take a look at AGL’s highest-ever share price.

When did AGL shares last hit a record high price?

AGL shares last peaked back in 2017. Before that, the company had been on an epic run, rising more than 50% between April 2016 and April 2017. Mid-April 2017 saw this company’s last share price peak. AGL hit an intra-day high of $28.47 on 11 April, its current all-time high. Its highest-ever closing share price came on the day prior, 10 April. That saw AGL shares close at $28.44 each.

Unfortunately, it has been downhill for the company ever since. At today’s prices, AGL shares remain down 70% from that high watermark. Of course, there have been some substantial dividends paid out since then that would blunt these losses somewhat. But not nearly enough to result in these losses being erased. And definitely not enough to make AGL a market-beating investment since then.

Now AGL is about to turn a new leaf with the planned upcoming demerger of its retailing and generation businesses, no doubt AGL investors will be hoping the next five years prove more lucrative than the past five have been. But, as always, we shall have to wait and see.

At the current AGL share price, this ASX 200 share has a market capitalisation of $5.66 billion.

The post What was the highest ever AGL Energy share price? appeared first on The Motley Fool Australia.

More reading

• 3 ASX 200 shares sliding to 52-week lows on Tuesday
• Here are the 3 most heavily traded ASX 200 shares on Tuesday
• How is AFIC different from an ASX 200 ETF?
• ASX 200 midday update: Pendal rejects takeover offer, Mineral Resources rises on broker upgrade
• 5 things to watch on the ASX 200 on Tuesday

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 Bruce Jackson.

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The Novonix Ltd (ASX: NVX) share price struggled today, closing 5.45% lower at $5.90. Whilst the spot rally in commodities has taken off in 2022, Novonix – a battery technology company – has slipped well into the red during that time.

The company’s shares are down 36% since trading recommenced in January, clipping a good portion of the gains the company earned in 2021. Novonix, therefore, sits among the laggards of 2022 in the metals and tech sector.

The $2.85 billion company – by market cap, Novonix hasn’t turned a profit yet – now trails the wider tech sector by a substantial amount in 2022.

What’s up with Novonix?

Growth-type shares have incurred heavy losses across the board in 2022 as the yields on long-dated government bonds spike to multi-year highs.

The impulse effect from these moves has ramifications for both growth and tech stocks, seeing as the value of their cash flows into the future is tied to these rates. Higher yields simply mean lower valuations.

Investors are quick to respond to the moves as well. Just have a look at the interplay between the yield on the Australian government 10-year note and the tech index since March 2021, around 12 months of trade.

Why this is important is that Novonix and the wider tech sector tend to move together. Not in terms of absolute returns, but in terms of relative direction.

This has certainly been the case with Novonix this year, as I’ve reported in the past. By mid-March, the company’s share price had already slipped 44% as the tech sector faltered.

Whilst there was a fair spread between the two last year, in more recent times, the correlation is abundantly clear. Shown below is the performance of Novonix and the wider tech sector from November, right about when Novonix first started to slip on the chart.

As government bond yields creep up, it appears as if the trend in capital outflows from tech indices has continued well into the new year. Tech shares suffered heavy losses last quarter, for instance.

Since we rolled into April, the tightness of this inverse relationship has been on full show. Bond yields are spiking amid a wave of macroeconomic forces and tech shares are tumbling further, as seen in the chart below, showing levels of each since April 4.

Not even an update regarding the company’s battery technology on 4 April was enough to help Novonix. Its share price has tumbled further since then, in almost direct alignment with the wider sector.

Despite the pressures, longer-term, Novonix is still up around 160% in the past 12 months and has seen a 15% gain in the last month of trade.

The post The Novonix share price fell a further 5% on Tuesday. What’s happening? appeared first on The Motley Fool Australia.

More reading

• ASX 200 midday update: Pendal rejects takeover offer, Mineral Resources rises on broker upgrade
• Have investors fallen out of love with Novonix shares in 2022?
• Why is the Novonix (ASX:NVX) share price charging 6% higher?
• These were the best performers on the ASX 200 last week
• The ASX 200 just had its longest winning streak since 2017. What’s doing?

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. 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 Bruce Jackson.

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The Kogan.com Ltd (ASX: KGN) share price is struggling on Tuesday, slumping to its lowest point in nearly 4 weeks.

That’s despite no price-sensitive news having been released by the company since February.

At the time of writing, shares in Kogan are trading for just $5.12, representing a 3.2% tumble on the stock’s previous closing price and an intraday low.

For context, the broader market is also in the red today. The  All Ordinaries Index (ASX: XAO) has slumped 0.63% while the S&P/ASX 200 Index (ASX: XJO) has dipped 0.6%.

Additionally, while Kogan was booted from the S&P/ASX 200 Consumer Discretionary Index (ASX: XDJ) in December, the sector is sliding lower today. It has slumped 0.67% at the time of writing.  

Let’s take a closer look at what’s going on with the online retailer and its peers on Tuesday.

What’s weighing on the Kogan share price today?

The Kogan share price is struggling on Tuesday for no obvious reason, but at least it’s not alone.

It’s joined in the red by the stock of many of its consumer discretionary peers. Most notably, that of City Chic Collective Ltd (ASX: CCX).

The clothing retailer’s share price has tumbled 7.8% on Tuesday despite no word being released to the market.

The share prices of PointsBet Holdings Ltd (ASX: PBH) and Breville Group Ltd (ASX: BRG) are in the same boat, sinking 3.7% and 2.6% at the time of writing.

While there’s been no news from Kogan this week, it has remained one of the ASX’s most shorted stocks.

As The Motley Fool Australia’s James Mickleboro reported yesterday, 9% of Kogan’s shares are in the hands of short-sellers.

Additionally, last week the company released a non-price sensitive update announcing a new partnership with QBE Insurance Group Ltd (ASX: QBE)

The pair are teaming up to issue Kogan-branded home, car, and CTP insurance products.

Right now, the Kogan share price is 40% lower than it was at the start of 2022.

The post Why is the Kogan share price slipping to a 4-week low on Tuesday? appeared first on The Motley Fool Australia.

More reading

• These are the 10 most shorted ASX shares
• What’s the go with the Kogan share price today?
• These are the 10 most shorted ASX shares
• Discounted bargain? The Kogan (ASX:KGN) share price is down 3%
• Kogan (ASX:KGN) shares spike another 6% post federal budget

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Kogan.com ltd and Pointsbet Holdings Ltd. The Motley Fool Australia owns and has recommended Kogan.com ltd. The Motley Fool Australia has recommended Pointsbet Holdings Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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With some ASX shares almost doubling while other fell by more than half, the All Ordinaries Index (ASX: XAO) finished the quarter almost flat, gaining a slender 0.1%.

So, which were the top two performers and which came in last?

We’ll start with the runners-up.

The second best and second worst performers

The second worst ASX share to have held during the quarter just past was Laybuy Group Holdings Ltd (ASX: LBY).

The Laybuy share price was 24 cents when the closing bell rang on 31 December. By the time the ASX closed on 31 March, shares were worth 8 cents, down 67% for the quarter.

Laybuy operates in the buy now, pay later (BNPL) space. And as with other ASX BNPL shares, Laybuy has been hit by expectations of significant interest rate rises, which will impact its business model.

On the flip side of the performance coin, the second-best ASX share to have held during the March quarter was Yancoal Australia Ltd (ASX: YAL).

Yancoal shares kicked off the quarter trading for $2.60 and finished at $4.44, a gain of 71%.

Yancoal shares surged amid rocketing thermal and metallurgical coal prices. The company is Australia’s largest pure-play coal producer, operating and managing a portfolio of coal mines across New South Wales, Queensland, and Western Australia.

The coal producer also released some very strong results for the full 2021 financial year back in February, sending the ASX share leaping higher on the day.

Yancoal also reinstated its dividend, with the company paying an unfranked 10.3% trailing dividend yield at current share prices.

Moving on…

These were the best and worst ASX shares in the March quarter

The worst All Ords ASX share to have held during the March quarter was Cettire Ltd (ASX: CTT).

The online luxury goods retailer closed the last quarter at $3.56 and by 31 March was trading for $1.14, down a painful 68% over the three months.

Cettire had been receiving some healthy tailwinds during the COVID lockdowns, which saw many consumers turn to online retail purchases.

Luxury goods are also more prone to be hit by rising interest rates. And with rates likely to increase significantly from their historic lows, investors may have been selling down the Cettire share price.

Cettire shares also suffered another day of big losses on 23 March after it was revealed the company’s founder, Dean Mintz, was selling 35 million shares.

Which brings us to…

The best ASX share within the All Ords to have held onto during the March quarter was Stanmore Resources Ltd (ASX: SMR).

Stanmore shares were trading for 95 cents when markets closed on 31 December. By the time the ASX closed on 31 March, shares were worth $1.74, up a very impressive 83% for the quarter.

Like the No. 2 best performer, Stanmore Resources is also involved in digging up and selling coal. In fact, until a name change in April 2021, the company was called Stanmore Coal.

Amid record coal prices, Stanmore’s FY21 results were strong, likely helping boost its share price further. Among the highlights, the coal miner’s earnings before interest, taxes, depreciation, and amortisation (EBITDA) leapt 125% year-on-year, hitting $54 million.

The post Guess which 2 ASX shares were the best and worst All Ordinaries performers of the quarter appeared first on The Motley Fool Australia.

More reading

• Here’s a look at the laggards from ASX tech shares last quarter
• These were the worst 3 ASX All Ordinaries shares to hold during the March quarter
• The best ASX All Ordinaries shares of the March quarter unmasked
• Opportunity knocking? 3 ASX All Ords shares trading at 52-week lows today
• In a sea of red, these ASX 200 coal shares are floating above water. Here’s why

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Cettire Limited. The Motley Fool Australia has recommended Cettire Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Lake Resources N.L. (ASX: LKE) share price is backtracking despite no new announcements from the company on Tuesday.

At the time of writing, the clean lithium developer’s shares are trading at $1.83, down 8.04%.

Let’s take a look at what could be driving the fall today.

What’s down streaming the Lake Resources share price?

Investors are offloading Lake Resources shares after they reached a record high of $2.65 apiece on 4 April.

It appears there could be a mix of profit-taking along with weakened market sentiment affecting the ASX today.

Lake Resources shares quickly rose from the beginning of March when they were listed at 96 cents each. It’s a huge difference in just over a month where the company’s shares doubled in value amid hype surrounding the lithium space.

Furthermore, the S&P/ASX 300 Metals and Mining Industry (ASX: XMM) is down 0.44% at the time of writing. The index contains companies in the top 300 ASX companies involved with gold, steel, and precious metals.

Lastly, yesterday’s announcement stating that Lake Resources will issue around 2.3 million shares will have diluted shareholder value.

The issue was pursuant to the exercise of options.

About the Lake Resources share price

Despite today’s fall, Lake Resources has been one of the best places to invest in the past year.

While renewed investor sentiment within the lithium space has supported the share price, the company has been making significant tailwinds.

As a result, the Lake Resources share price has travelled 476% higher since this time last year and is up 82% in 2022 so far.

Based on valuation grounds, Lake Resources commands a market capitalisation of roughly $2.36 billion.

The post Why is the Lake Resources share price powering down by 8% today? appeared first on The Motley Fool Australia.

More reading

• Lithium watch: Broker tips Lake Resources share price to rocket 42% higher
• How did ASX lithium shares perform today?
• Here are the top 10 ASX shares today
• Why IGO, Lake Resources, Regis Resources, and ResApp shares are charging higher
• Lake Resources share price shoots 16% higher on lithium deal with Ford

Motley Fool contributor Aaron Teboneras 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 Bruce Jackson.

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The Ragnar Metals Ltd (RAG) share price is soaring today amid the company reporting its latest nickel results.

This ASX mining stock is currently trading at 5 cents, a 56.25% gain. In contrast, the S&P/ASX 200 Resources Index (ASX: XJR) is sliding 0.45% today.

Let’s take a look at what this nickel explorer announced today.

Metals intersected

Ragnar Metals drilling results confirmed “large scale potential” at the company’s Granmuren Deeps nickel, copper, and cobalt discovery. This is located within the ASX mining stock’s Tullsta nickel project in Sweden.

Diamond drilling at hole 21DDTS007 intersected 0.56% nickel, 0.49% copper, and 0.05% cobalt at 146.3 metres.

This included a higher grade zone at 34m of 0.90% nickel, 0.80% copper, and 0.08% cobalt.

A 3D review of the results showed thick nickel and copper mineralisation extending to a depth of 400m. Grades and thinkness of the metals are growing with depth.

Commenting on the results likely fuelling the Ragnar Metals share price, chairman Steve Formica said:

With the results of hole 21DDTS007 now received, we can start to understand the potential scale of the Granmuren Intrusive system.

All holes drilled in this drilling program added to the discovery and understanding of the magmatic sulphides intersected in the drilling.

The modelling and interpretation to date show this to be an extensive system with the potential to host significant tonnage of Ni-Cu-Co metals.

The company is planning to diamond drill another four holes at the site targeting magmatic sulphide accumulations.

Ragnar Metals share price snapshot

The Ragnar Metals share price has soared 75% in the past year, while it is up 54% year to date.

For perspective, the ASX 200 Resources index has increased 15% in a year.

In the past month, this ASX mining stock has rocketed 62%, while it has surged 59% in the past week alone.

Ragnar Metals has a market capitalisasion of about $17.5 million based on the current share price.

The post Why this ASX mining stock just rocketed 56% appeared first on The Motley Fool Australia.

More reading

• 3 highly rated ASX growth shares analysts are tipping as buys
• 3 ASX 200 shares sliding to 52-week lows on Tuesday
• Why did the Woodside share price just get hit with a 5% downgrade?
• Here are the 3 most heavily traded ASX 200 shares on Tuesday
• 3 ASX All Ordinaries mining shares smashing 52-week highs today

Motley Fool contributor Monica O’Shea 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 Bruce Jackson.

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If you’re looking for some new growth shares to buy, then it could be worth considering the three ASX shares listed below.

Here’s what you need to know about these highly rated growth shares:

Allkem Ltd (ASX: AKE)

The first ASX growth share to consider is Allkem. It is a top five global lithium miner with a collection of world class operations including Olaroz, Mt Cattlin, and the Sal de Vida brine project. Unlike the many lithium explorers and developers on the ASX, Allkem is already benefiting from the sky high lithium prices being underpinned by the decarbonisation trend and the rapid adoption of electric vehicles.

In fact, this month the company revealed that it expects to receive US$35,000 per tonne FOB for its lithium carbonate in the June quarter. This is up from US$27,236 per tonne during the March quarter and is more than triple the US$11,095 per tonne commanded during the first half.

Bell Potter is bullish on Allkem. It currently has a buy rating and $15.50 price target on its shares.

Lovisa Holdings Limited (ASX: LOV)

Another ASX growth share to look at is Lovisa. It is a fast-fashion jewellery retailer with a growing global store network. It is the company’s global expansion plans that are getting investors and analysts excited.

For example, Morgans has suggested that the company could “prove to be one of the biggest success stories in Australian retail.” It sees a huge opportunity for Lovisa to expand internationally and appears confident that it has the management team to execute on this.

Morgans currently has an add rating and $24.00 price target on its shares.

Megaport Ltd (ASX: MP1)

A final growth share to look at is Megaport. It is the leading provider of elastic interconnection services in the data centres globally. Using software defined networking (SDN), Megaport’s global platform allows users to rapidly connect their network to other services across the Megaport Network.

The team at Goldman Sachs is very bullish on Megaport. It estimates that Megaport has exposure to $129 billion per annum spent on fixed enterprise networking across its current geographies. This is being underpinned by structural tailwinds such as the adoption of public cloud and the transition towards Networking as a Service.

Goldman Sachs has a buy rating and $19.90 price target on its shares.

The post 3 highly rated ASX growth shares analysts are tipping as buys appeared first on The Motley Fool Australia.

More reading

• Here’s why Allkem shares are getting multiple broker upgrades
• 2 ASX shares with impressive global growth plans: experts
• Top brokers name 3 ASX shares to buy next week
• Here’s why the lithium price is in the spotlight today
• Why not all ASX lithium shares are winners from surging commodity prices

Motley Fool contributor James Mickleboro owns Allkem Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended MEGAPORT FPO. The Motley Fool Australia has recommended Lovisa Holdings Ltd and MEGAPORT FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The S&P/ASX 200 Index (ASX: XJO) is having a pretty miserly day of trading so far this Tuesday. At the time of writing, the ASX 200 is down by 0.52% at just under 7,450 points. But today has been a little worse for some ASX 200 shares. In fact, we’ve seen several hit new 52-week lows today. Let’s check out the damage.

The first ASX 200 share hitting a new 52-week low today is A2 Milk Company Ltd (ASX: A2M). It’s been a long and painful fall from grace for this embattled dairy share. It was only back in July 2020 that we saw A2 Milk hit around $20 a share.

But, sadly, today has seen A2 shares go as low as $4.57 each. That’s a steep fall of close to 80% from those 2020 highs. You’d have to go back to 2017 for a time that A2 consistently traded at these kinds of prices. As my Fool colleague James covered today, A2’s more recent falls come after some brokers downgraded their sentiments on the company.

2 more ASX 200 shares hitting new 52-week lows today

Another ASX 200 share hitting new 52-week lows today is Aristocrat Leisure Limited (ASX: ALL). Aristocrat is a market leader in the manufacturing of gaming machines (namely poker machines). But it seems to be out of favour with investors right now, who have sent the company to a new 52-week low of $32.60 today.

That puts Aristocrat down more than 27% in 2022 so far. But unlike A2 Milk, a few brokers are seeing value in these lows. One is Citi, which recently slapped the ASX 200 pokie maker with a 12-month share price target of $44.

Let’s now look at Platinum Asset Management Ltd (ASX: PTM). Platinum is a fund manager that has also been going through the wars of late. Platinum’s last all-time high came in 2015 and was over $9 a share. But ever since, this company has drifted lower and lower. Today, it hit a new 52-week low of $1.83 a share. Unfortunately for investors, that also represents its lowest point since at least 2007.

So it hasn’t been a great day for these ASX 200 shares. Any investors involved with any of these companies will no doubt be hoping that it only gets better from here. But we shall have to wait and see.

The post 3 ASX 200 shares sliding to 52-week lows on Tuesday appeared first on The Motley Fool Australia.

More reading

• Here are the 3 most heavily traded ASX 200 shares on Tuesday
• How is AFIC different from an ASX 200 ETF?
• Why A2 Milk, G8 Education, Nearmap, and Zip shares are dropping
• ASX 200 midday update: Pendal rejects takeover offer, Mineral Resources rises on broker upgrade
• 5 things to watch on the ASX 200 on Tuesday

Motley Fool contributor Sebastian Bowen owns A2 Milk. 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 recommended A2 Milk. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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