Insights

Why is the Predictive Discovery (ASX:PDI) share price falling today?

The gold explorer’s shares give back some gains that were booked yesterday.
The post Why is the Predictive Discovery (ASX:PDI) share price falling today? appeared first on The Motley Fool Australia. –

The Predictive Discovery Ltd (ASX: PDI) share price is sliding 11% into the red today and is now trading at 23.5 cents.

The gold explorer’s shares have fallen despite there being no market-sensitive information from the company and after closing yesterday 13% higher at 26 cents.

Let’s take a close look at what might be fuelling this pullback in the Predictive Discovery share price.

What’s up with the Predictive Discovery share price today?

It’s difficult to pinpoint the exact cause of what might be behind today’s downward moves in Predictive’s share price.

However, yesterday the company advised it is set to hold an investor presentation on recent updates at its Bankan gold project in the West African nation of Guinea.

Predictive is riding a wave of momentum at this site of late, including an updated mineral resource estimate (MRE) of 3.65 million ounces for the gold project.

Predictive Discovery managing director Paul Roberts will lead a 30-minute presentation covering the site, its planned exploration activities and plans for technical studies.

Investors appeared to have enjoyed the news with a flurry of buying activity lifting Predictive’s share price yesterday.

However, these gains haven’t rolled over into today and the Predictive Discovery share price has corrected towards its levels of 30 September.

Taking a step back and looking at the wider picture, Predictive Discovery shares were trading relatively flat in the 3 months until 21 September, after which they began to march northwards.

This came after high-grade gold discoveries at its Bankan project that were announced a week earlier. This was followed by positive drill results and another mineral resource update from the site at month’s end.

Despite the update, Predictive’s shares took a backward step before being scooped up by investors at 22 cents apiece on 1 October. They climbed to new 52-week highs yesterday.

Again, the day after yesterday’s announcement, the company’s share price has taken another backward step.

In the absence of any price-sensitive news today, it’s difficult to pinpoint what is causing the selloff in Predictive Discovery’s shares today

Suffice to say, it’s been a fairly bumpy road for Predictive Discovery shareholders the past few days.

Predictive Discovery share price snapshot

The Predictive Discovery share price has delivered outsized returns this year to date and has climbed 268% into the green.

That’s well ahead of the S&P/ASX 200 Index (ASX: XJO)’s return of 25% in the past year.

The post Why is the Predictive Discovery (ASX:PDI) share price falling today? appeared first on The Motley Fool Australia.

Should you invest $1,000 in Predictive Discovery right now?

Before you consider Predictive Discovery, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Predictive Discovery wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of August 16th 2021

More reading

Predictive Discovery (ASX:PDI) share price rockets 13% following investor update
Predictive Discovery (ASX:PDI) share price surges 23% on resources update
Predictive Discovery (ASX:PDI) share price zooms 21% on drill results
Why the Predictive Discovery (ASX:PDI) share price is rocketing 9%

The author Zach Bristow has no positions 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.

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!