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Stocks Down Under 7 August 2020: CIMIC, Rural Funds Group, Panoramic Resources
CIMIC: The tough times aren’t over
Like every other S&P/ASX200 company, the Sydney-based engineering and construction major CIMIC saw its stock rally strongly after the Corona Crash, from $13.00 on 19 March to $28.10 on 9 June. Since June, however, investors have once again been distancing themselves from the stock, and it’s now down more than 20% from the post-March peak. Among their concerns are accounting issues, the potential for a business slowdown related to Coronavirus and risks on key contracts.
Also in today’s edition: Rural Funds Group (ASX:RFF) and Panoramic Resources (ASX:PAN).
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