Because these ASX shares have just crashed to multi-year lows

The market may have pushed higher last week and returned to close to the highest levels of the year, but not all stocks were so lucky.

The three actions listed below were all under pressure recently and hit lows of 52 weeks or worse on Friday. That's why I'm down in the landfills:

Last week the share price of Dacian Gold Ltd (ASX: DCN) dropped 76% compared to a multi-year low of 38 cents. Investors hit the panicked sales button after the gold miner downgraded its quarterly production guide and increased its cost guide for the current quarter. Instead of…

The market may have pushed higher last week and returned to close to the highest levels of the year, but not all stocks were so lucky.

The three actions listed below were all under pressure recently and hit lows of 52 weeks or worse on Friday. That's why I'm down in the landfills:

The Dacian Gold Ltd (ASX: DCN) The share price crashed by 76% less than the multi-year low of 38 cents last week. Investors hit the panicked sales button after the gold miner downgraded its quarterly production guide and increased its cost guide for the current quarter. Instead of 50,000-55,000 ounces of gold at an overall sustained cost (AISC) of between $ 1,050 and $ 1,150 per ounce, Dacian now expects to produce 36,000-38,000 ounces from an AISC of $ 1,500- $ 1,600 l. This was caused by performance problems on the return underground contractor. Management also revealed that the Mt Morgans operation is expected to produce 160,000-180,000 ounces per year over the next five years, down from previous estimates of 200,000 ounces per year. This poor performance and its dizzying costs seem to have sparked fears that Dacian could follow the gold friend of mine Gascoyne Resources Ltd (ASX: GCY) in administration in the near future.

The Mayne Pharma Group Ltd (ASX: MYX) The share price was traded at a minimum of 50 cents on Friday. Investors beat the panicked sales button in the last few weeks after the pharmaceutical company released a disappointing market update in May, which revealed that its main generic product division had once again underperformed expectations. During the first four months of the second half of the year, the division recorded a 32% drop in revenue compared to the previous corresponding period. Difficult trading conditions have been blamed for underperformance.

The Pendal Group Ltd (ASX: PDL) The share price collapsed to the multi-year low of $ 6.86 at the end of last week. Pendal, which was previously known as BT Investment Management, was recently subjected to pressure following Brexit and a disappointing first-half performance. During the first half of fiscal year 2019, the asset manager recorded a 26% decline in cash earnings to $ 84.5 million. Management blamed the negative result of significantly lower performance fees, which fell by 91% to $ 4.4 million. The Pendal Group's share price has fallen by 28% over the last 12 months.

Motley Fool collaborator James Mickleboro has no position in any of the stocks mentioned. Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all have the same opinions, but we are all convinced that, considering a wide range of insights, we have become better investors. The Motley Fool has a disclosure policy. This article contains only general investment recommendations (with AFSL 400691). Authorized by Scott Phillips.