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These 3 ASX gold mining shares are digging new 52-week lows today

ASX gold mining shares are dropping like flies today.
The post These 3 ASX gold mining shares are digging new 52-week lows today appeared first on The Motley Fool Australia. –

It’s a pretty depressing day and end to the month so far for the S&P/ASX 200 Index (ASX: XJO).

So far this Thursday, the ASX 200 has lost another 0.8% of its value and is now back under 6,650 points.

But it’s an even worse day for a few ASX gold mining shares that have hit new 52-week lows today.

Which ASX gold mining shares are digging new troughs?

The first is Northern Star Resources Ltd (ASX: NST).

Shares in this ASX 200 gold miner have fallen 0.21%, down to $7.02 each at the time of writing.

Earlier in today’s trading session, Northern Star shares went as low as $6.96. That’s the company’s new 52-week low. Northern Star shares haven’t consistently traded below $7 since back in 2018.

Fellow ASX gold miner St Barbara Ltd (ASX: SBM) is currently down by 0.4% at 77 cents a share.

Earlier today, St Barbara shares went as low as 76 cents, which is the company’s new 52-week low.

This is an especially bleak milestone for St Barbara, which hasn’t seen its share price at these kinds of levels since way back in 2015.

Another ASX gold miner to check out is Silver Lake Resources Limited (ASX: SLR).

Despite its name, Silver Lake is a gold producer as well. And just like Northern Star and St Barbara, we’ve seen this company hit a new 52-week low today, too.

Silver Lake shares are sitting at their new 52-week low of $1.22 after losing 0.81% so far today. You have to go back to the worst of the COVID-19 crash of 2020 to find the last time Silver Lake was at these levels.

What’s spooking this ‘safe haven’ sector?

ASX gold shares have been under pressure all week, thanks in most part to the disappointing update given by ASX 200 gold miner Evolution Mining Ltd (ASX: EVN) on Monday.

Evolution flagged falling production and higher costs, which seems to have spooked gold investors in recent days. That’s despite the price of gold itself remaining relatively steady in recent weeks.

The yellow metal is asking US$1,825 an ounce at the time of writing, relatively close to its average price over the past 12 months (although down from the US$2,000-plus levels we saw back in March).

The post These 3 ASX gold mining shares are digging new 52-week lows today appeared first on The Motley Fool Australia.

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More reading

ASX 200 midday update: Energy shares drop, PointsBet jumps
Why have ASX lithium shares had such a lousy month in June?
5 things to watch on the ASX 200 on Thursday
What’s behind the 8% fall in the Silver Lake Resources share price?
Volt gets packing as ASX 200 bank shares prove to be a formidable force

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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