It has been a much-needed positive day for the S&P/ASX 200 Index (ASX: XJO). In afternoon trade, the benchmark index is back on form and up 0.9% to 7,045.1 points.
Four ASX shares that have failed to follow its lead today are listed below. Here’s why they are falling:
Aurelia Metals Ltd (ASX: AMI)
The Aurelia Metals share price is down over 3% to 45.5 cents. Investors have been selling this gold miner’s shares after it revealed that it has suspended production at its Dargues Gold Mine in southern New South Wales. This was done as a precaution following the significant rain event that is currently impacting the east coast of Australia.
Brambles Limited (ASX: BXB)
The Brambles share price is down 2% to $9.69. This decline is almost entirely attributable to the logistics solutions company’s shares trading ex-dividend for its interim dividend this morning. Eligible shareholders can now look forward to receiving Brambles’ 15.1 cents per share partially franked dividend next month on 14 April.
GQG Partners Inc (ASX: GQG)
The GQG share price has continued its slide and is down a further 3.5% to $1.15. This means the fund manager’s shares have now lost 43% of their value since the completion of its IPO at $2.00 per share in October. GQG’s shares have come under pressure this week following the release of its latest funds under management update.
Nickel Mines Ltd (ASX: NIC)
The Nickel Mines share price is down 11% to $1.30. Investors have been selling down this nickel producer’s shares today after one of its largest customers and shareholders, Tsingshan, getting caught up in a massive short squeeze. However, this afternoon Nickel Mines responded to the decline by stating that it has spoken with Tsingshan. The steel producer has told the company that it does not plan to sell shares. It also advised that Tsingshan continues to support its operations and will be buying its nickel as planned.
The post Why Aurelia Metals, Brambles, GQG, and Nickel Mines shares are falling appeared first on The Motley Fool Australia.
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