Why the Ausdrill Limited (ASX:ASL) share price is still on the slide

Carin Pickworth | November 5, 2018 | More on: ASL MIN MND

Diversified mining company Ausdrill Limited’s (ASX: ASL) share price has seen better days – down 3.1% to $1.46 in early morning trade after a depressing week last week when its share price value plunged 8.2%.

Ausdrill announced it completed the acquisition of leading underground hard-rock mining contractor, Barminco, in late October – transforming it into the second-largest mining services company in Australia.

But investors were unimpressed, and even Ausdrill’s reiteration of its FY19 earnings guidance of between 20% and 30% underlying profit growth failed to boost its flailing share price.

Ausdrill’s mining service sector siblings are travelling along steadily, with Mineral Resources Limited (ASX: MIN) shares kicking off the week’s trading up 2% to $15.77 and Monadelphous Group Limited (ASX: MND) shares up 1.1% to $14.73.

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