4 Beaten Down Stocks– FMG, CGF, HTA, MGX

  • Apr 17, 2019 AEST
  • Team Kalkine
4 Beaten Down Stocks– FMG, CGF, HTA, MGX

Here are some of the stocks that have fallen on ASX on 17th April 2019, although with strong YTD return offered to investors till date-

Fortescue Metals Group (ASX: FMG)

Fortescue Metals Group is an iron mining company operating on a global scale with four mine sites in Pilbara, Australia. The company is aiming to be the safest, lowest cost, most profitable iron ore producer. Recently, the company’s subsidiary FMG Magnetite Pty Ltd and joint venture partner Formosa Steel IB Pty Ltd approved the development of Stage 2 of the Iron Bridge Magnetite Project, worth US$2.6 billion. The company is aiming to deliver 22 million tonnes pa 67% iron magnetite concentrate commodity by mid-2022.

The company has a market capitalisation of A$29.94 billion. The stock has 52-week high and low of A$8.24 and A$3.455 respectively. The stock plunged by 8.3% and closed the session at A$7.43 after making an intraday low of A$7.39. Last one month return of the stock is 18.5%, with outstanding YTD return of 98.60%.

Challenger Limited (ASX: CGF)

Challenger is an investment management company working in the financial sector. The company is managing $81 billion in assets under management (AUM). The company has also expanded its strategic relationship with MS&AD Insurance Group Holdings Inc which also intends to increase its Challenger shareholding to over 15% of the issued capital.

On 22nd March 2019, it also announced Dividend Reinvestment Plan (DRP) issue price for the 2019 interim dividend is $8.1695 per share. It also posted mixed numbers in the third quarter performance, major disappointment being Australian and Japanese annuity sales which fell by 7% and 49% respectively.

The company has a market capitalisation of A$4.87 billion. The stock has 52-week high and low of A$13.45 and A$7.17 respectively. The stock fell by 2.4% and closed the session at A$7.7 (near to its 52-week low) after making an intraday low of A$7.47. Last one month return of the stock is 2.8% with a negative YTD return of 12.81%.

Rio Tinto Limited (ASX: RIO)

Rio Tinto is a leading iron ore mining company which also explores and extracts a variety of minerals worldwide including aluminium, copper, diamonds etc. On 17th April 2019, Joanne Farrell, company’s Group Executive, decided to retire from his position at the end of September 2019. The company also recently released its quarterly production results for the quarter ended 31st March 2019 along with operational updates, reporting 9% dip in Pilbara ore production and 14% dip in Pilbara iron ore shipments for Q1 2019. For rapid expansion, Rio Tinto is also targeting $302 million investment expenditure to advance its Resolution Copper project.

The company has a market capitalisation of A$37.57 billion. The stock has 52-week high and low of A$102.83 and A$66.978 respectively. The stock fell by 4.7% and closed the session at A$96.4 which is its lowest price for the day. Last one month return of the stock is 8.6% with strong YTD return of 36.82%.

Afterpay Touch Group Limited (ASX: APT)

Afterpay is an information technology company that provides a payment platform for seamless transactions for retailers. The company had also launched Urban outfitters in the U.S. market in May 2018. Recently, the company issued 971,666 fully paid ordinary shares at $0.20 per share for 925,000 Shares and $2.71 per share for 46,666 Shares, upon exercise of options issued to senior executives. Contrary to this, Director Clifford Rosenberg has dumped a total of 150,000 shares on 1st, 4th and 5th March 2019 for a total consideration to $2,969,439.97 (before brokerage).

The company has a market capitalisation of A$5.92 billion. The stock has 52-week high and low of A$25.85 and A$5.39 respectively. The stock fell by 5.9% and closed the session at A$23.34 which is its lowest price for the day. Last one month return of the stock is 20.3% with strong YTD return of 106.67%.


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