Why Aurelia Metals, Janus Henderson, ResMed, and Zip shares are dropping

These ASX shares are out of form today…

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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a small gain. At the time of writing, the benchmark index is up 0.1% to 7,387.8 points.

Four ASX shares that have failed to follow the market higher today are listed below. Here’s why they are dropping:

Aurelia Metals Ltd (ASX: AMI)

The Aurelia Metals share price is down 8% to 48.3 cents. Investors have been selling this gold miner’s shares after it revealed that it has identified lower grades of mineralisation in part of the Dargues Gold Mine compared to its existing life of mine plan. As a result, it expects to report a non-cash impairment charge in the range of A$60 million to A$80 million (post tax) against the Dargues assets.

Janus Henderson Group (ASX: JHG)

The Janus Henderson share price is down almost 4% to $45.82. This follows news that the fund manager has appointed its new Chief Executive Officer. According to the release, Janus Henderson has appointed Ali Dibadj to the role, effective no later than 27 June. He will take over from Dick Weil, who is stepping down on 31 March. Chief Financial Officer, Roger Thompson, will cover as interim CEO until Mr Dibadj joins.

ResMed Inc. (ASX: RMD)

The ResMed share price is down 4% to $32.09. This follows a sharp pullback in the company’s NYSE listed shares overnight. The sleep treatment specialist’s US listed shares tumbled 8.5% during overnight trade before rebounding 4% in after hours trade. This was driven by concerns over supply issues.

Zip Co Ltd (ASX: Z1P)

The Zip share price is down almost 6% to $1.55. Investors have been selling Zip and other tech shares on Thursday following a poor night of trade on the tech-focused Nasdaq index. This has led to the S&P ASX All Technology index losing 1% of its value on Thursday afternoon.

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. owns and has recommended ZIPCOLTD FPO. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has recommended ResMed. The Motley Fool Australia has recommended ResMed Inc. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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