In July, the S&P/ASX 200 Index (ASX: XJO) enjoyed a notable gain of 4.2%. However, not all stocks in the index participated in this positive momentum. Here are three of the benchmark index's worst-performing stocks for the month.
Tabcorp Holdings Ltd (ASX: TAH) Tabcorp Holdings Ltd was among the notable laggards in July. The gambling company's share price fell from 70 cents at the end of June to 65 cents by July 31, marking a decline of 7.1% over the month. Despite a modest rise of 0.8% on the last trading day of the month, Tabcorp's stock has been on a downward trajectory for the past year, with a total decline of approximately 39.5% over the last 12 months. The most recent price-sensitive news from the company was released in June, suggesting that the ongoing decline is part of a broader downward trend.
Fortescue (ASX:FMG) Metals Group Ltd (ASX: FMG) Fortescue Metals Group Ltd also experienced a challenging July. The mining giant's share price decreased from $21.41 at the end of June to $18.87 by the end of July, a drop of 11.9%. Several factors contributed to Fortescue's poor performance, including a decline in iron ore prices, which fell below US$100 per tonne towards the end of the month. Additionally, the company faced negative publicity related to allegations of hiring private investigators to monitor former employees and their families. Despite reporting record iron ore shipments of 53.7 million tonnes in its quarterly update, the stock fell by 5.5% on July 25. The most significant decline occurred on July 30, when the stock plummeted 10.2% following news of a $1.9 billion share sale at a discount.
South32 Ltd (ASX: S32) South32 Ltd was the worst performer among ASX 200 stocks in July. The company's share price fell from $3.66 at the end of June to $3.07 by the end of July, a decrease of 16.1%. The largest drop occurred on July 22, when the stock fell by 12.6% after the company reported its quarterly results. Although the production figures were strong, with a 10% increase in copper production to 15,300 tonnes, the stock was adversely affected by a downgraded production guidance for FY 2025.
The broader ASX 200 index experienced gains in July, these three stocks—Tabcorp Holdings Ltd, Fortescue Metals Group Ltd, and South32 Ltd—faced significant declines, reflecting specific challenges and market dynamics impacting their performance.