Why EOS, Newmont, Webjet, and WIA Gold shares are tumbling today

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a disappointing decline. At the time of writing, the benchmark index is down 1.25% to 8,497.7 points.

Four ASX shares that are falling more than most today are listed below. Here’s why they are tumbling:

Electro Optic Systems Holdings Ltd (ASX: EOS)

The EOS share price is down 10% to $7.95. Investors have been selling this defence and space company’s shares following the completion of an institutional placement. According to the release, EOS has raised $150 million via a fully underwritten institutional placement. These funds were raised at a price of $8.00 per new share, which represents a 9.3% discount to its last close price. In addition, the company has raised $40 million through a private placement to an entity related to Calidus, which is a major provider of defence equipment, technology, and services based in Abu Dhabi, United Arab Emirates. These funds will be used to fund the acquisition of MARSS and increase balance sheet flexibility.

Newmont Corporation (ASX: NEM)

The Newmont Corporation share price is down 4.5% to $146.23. Investors have been selling Newmont’s shares despite there being no news out of the gold miner. However, most ASX gold stocks are falling today after a spike in US treasury yields put pressure on the gold price. This has led to the S&P/ASX All Ordinaries Gold index falling 4.4% this afternoon.

Webjet Group Ltd (ASX: WJL)

The Webjet share price is down 10% to 44 cents. This follows the release of the online travel agent’s results and an update on its commercial arrangements with Virgin Australia Holdings Ltd (ASX: VGN). Webjet has been receiving commission payments from Virgin Australia for the sale of flights and ancillaries, along with specified performance targets. However, this agreement is now coming to an end on 1 July. Webjet advised that if the agreement had ended at the start of the year, it would have impacted FY 2026 revenue by $3 million. Speaking of which, Webjet posted a 1% increase in revenue to $136.4 million for FY 2026, but a 24% decline in underlying net profit to $13.6 million.

WIA Gold Ltd (ASX: WIA)

The WIA Gold share price is down 13% to 43.5 cents. This has been driven by the completion of a capital raising by the gold developer. WIA Gold has raised $92 million at 46 cents per new share. This represents an 8% discount to its last close price. The company’s CEO, Henk Diederichs, said: “We are very pleased with the strong demand for this Placement, particularly from high-quality offshore institutional investors who recognise Kokoseb’s potential to emerge as one of Africa’s next major gold mines. This Placement materially strengthens our balance sheet at a pivotal stage in the Project’s development and provides a clear pathway to advance key workstreams as we progress towards DFS completion and ultimately production.”

The post Why EOS, Newmont, Webjet, and WIA Gold shares are tumbling today appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Electro Optic Systems. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.