The benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) index is on course to end its winning streak on Tuesday. In afternoon trade the index is down by a sizeable 0.5% to 5,861 points.
Four shares that have fallen more than most today are listed below. Here’s why they have tumbled lower:
The Aurelia Metals Ltd (ASX: AMI) share price dropped 5.5% to 76 cents following the release of the gold miner’s quarterly update. Aurelia Metals reported quarterly gold production of 35,834 ounces at an AISC of $732 an ounce. In addition to this, management advised that it increased its cash balance by $25 million to $107.9 million during the quarter. It appears some investors were expecting even more.
The Automotive Holdings Group Ltd (ASX: AHG) share price has continued its slide and is down over 3% to $1.50. The auto retailer’s shares have now lost almost 60% of their value since this time year due to concerns over the impact tough trading conditions are having on its financial performance.
The Integrated Research Limited (ASX: IRI) share price has tumbled 6% lower to $2.49. I suspect that this decline has been driven by profit taking after a strong run over the last couple of weeks. Prior to today the performance management and analytics software provider’s shares had rocketed 60% higher since the release of its profit guidance update on January 10. That update revealed that Integrated Research has turned around its performance far quicker than the market expected.
The Wagners Holding Company Ltd (ASX: WGN) share price has plunged 9.5% lower to $2.70. This morning the building materials company downgraded its earnings guidance for the full year. In November management advised that earnings before interest and tax would be roughly in line with the prior corresponding period’s figure of $39.5 million. Whereas management now expects EBIT in the range of $35 million to $38 million.