These were the worst performing ASX 200 shares last week

It wasn’t a good week for these ASX 200 shares…
The post These were the worst performing ASX 200 shares last week appeared first on The Motley Fool Australia. –

It was another solid week for the S&P/ASX 200 Index (ASX: XJO). The benchmark index rose 46.3 points or 0.6% over the five days to end at 7,394.4 points.

Unfortunately, not all ASX 200 shares were able to climb higher with the market. Here’s why these were the worst performers on the index:

Silver Lake Resources Limited (ASX: SLR)

The Silver Lake share price was the worst performer on the ASX 200 last week with an 11% decline. The majority of this decline occurred on Friday following the release of the gold miner’s quarterly update. That update revealed that Silver Lake achieved quarterly production of 62,126 ounces of gold and quarterly gold sales of 60,617 ounces. Looking ahead, management expects broadly flat sales with higher all-in sustaining costs in FY 2022.

Altium Limited (ASX: ALU)

The Altium share price wasn’t too far behind with a 9.4% decline over the five days. This was driven by news that US software giant Autodesk has ended takeover talks with the electronic design software company. Autodesk is understood to have verbally offered to increase its takeover offer from $38.50 per share to $40.00 per share, but Altium wasn’t interested.

Evolution Mining Ltd (ASX: EVN)

The Evolution share price was just a touch behind with a decline of almost 9.4%. Investors were selling the gold miner’s shares after brokers responded negatively to its strategy update. Macquarie, for example, downgraded its shares to an underperform rating with a $4.00 price target after its costs and capital expenditure outlook came in much higher than expected. Offsetting some of this decline was a solid gain on Friday following the announcement of a key acquisition.

Crown Resorts Ltd (ASX: CWN)

The Crown share price was a poor performer and sank 8.4% last week. This was driven largely by concerns that the casino operator could lose its Melbourne licence. In addition to this, news that Star Entertainment Group Ltd (ASX: SGR) is walking away from merger talks also weighed on its shares. Although Star remains interested in a potential merger, it notes that there is too much uncertainty at present. Especially given the aforementioned Melbourne casino licence concerns.

The post These were the worst performing ASX 200 shares last week appeared first on The Motley Fool Australia.

Wondering where you should invest $1,000 right now?

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.

*Returns as of May 24th 2021

More reading

These were the best performing ASX 200 shares last week

2 quality ASX 200 tech shares that might be buys

Guess which sector this week’s top performing ASX 200 shares come from

ASX 200 edges higher, Crown falls, Pointsbet rises

These ASX 200 shares were the most heavily traded today

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Altium. The Motley Fool Australia owns shares of and has recommended Altium. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;

To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.

An active and funded account with a positive trading balance is required to continue to have access to the tools;

Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;

Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!