Why BHP, IDP Education, Pro Medicus, and Whitehaven Coal shares are dropping

These ASX shares are having a tough time on Thursday. But why?

| More on:
A worried man holds his head and look at his computer.

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The S&P/ASX 200 Index (ASX: XJO) is back on form on Thursday and charging higher. In afternoon trade, the benchmark index is up 0.6% to 7,591.7 points.

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

BHP Group Ltd (ASX: BHP)

The BHP share price is down 2% to $45.05. This follows the announcement of a multi-billion dollar impairment of its nickel assets. BHP believes unfavourable operating conditions will endure for a considerable time. Combined with cost pressures, it has been forced to impair the Western Australia Nickel's assets by US$2.5 billion. This reduces the carrying value of the assets to negative US$0.3 billion.

IDP Education Ltd (ASX: IEL)

The IDP Education share price is down almost 7% to $20.44. This morning, analysts at Bell Potter downgraded the language testing and student placement company's shares to a hold rating with a trimmed price target of $23.60.

Pro Medicus Limited (ASX: PME)

The Pro Medicus share price is down over 10% to $96.79. Investors have been selling this health imaging technology company's shares following the release of its half-year results. Although Pro Medicus reported very strong revenue and earnings growth, the market appears to have been expecting an even stronger result. It may also be disappointed at the lack of any real operating leverage.

Whitehaven Coal Ltd (ASX: WHC)

The Whitehaven Coal share price is down 6% to $7.04. This morning, this coal miner released its half-year results and reported a 58% decline in revenue and a 77% decline in underlying EBITDA. This forced the company to slash its interim dividend to 7 cents per share from 32 cents per share a year earlier. This was driven by higher costs and significantly weaker realised pricing.

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 Idp Education and Pro Medicus. The Motley Fool Australia has recommended Idp Education and Pro Medicus. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Share Fallers

A man looking at his laptop and thinking.
Technology Shares

Why are these ASX tech shares getting smashed today?

Owners of these two stocks are missing out today.

Read more »

a man weraing a suit sits nervously at his laptop computer biting into his clenched hand with nerves, and perhaps fear.
Share Fallers

Why AGL, Brickworks, IGO, and New Hope shares are dropping today

These ASX shares are having a poor session. But why?

Read more »

Frustrated stock trader screaming while looking at mobile phone, symbolising a falling share price.
Share Fallers

Why Amcor, Arafura, Brainchip, and South32 shares are tumbling today

These ASX shares are having a tough time on hump day. But why?

Read more »

A young woman holds an open book over her head with a round mouthed expression as if to say oops as she looks at her computer screen in a home office setting with a plant on the desk and shelves of books in the background.
Share Fallers

Why Aussie Broadband, Liontown, Metals Acquisition, and Seek shares are falling

These ASX shares are having a poor session. But why?

Read more »

A woman with a sad face looks to be receiving bad news on her phone as she holds it in her hands and looks down at it.
Share Fallers

Why Arafura Rare Earths, Core Lithium, Goodman, and Superloop shares are falling today

These ASX shares are starting the week in the red. But why?

Read more »

An industrial warehouse manager sits at a desk in a warehouse looking at his computer while the Centuria Industrial share price rises
REITs

Why bond yields are bruising ASX property shares on Monday

It's a bad day to own property shares this Monday...

Read more »

a mine worker holds his phone in one hand and a tablet in the other as he stands in front of heavy machinery at a mine site.
Resources Shares

Fortescue shares retreat to fresh 2024 low as iron ore breaks below US$100 per tonne

It's been an awful start to the week for Fortescue stock.

Read more »

a mine worker holds his phone in one hand and a tablet in the other as he stands in front of heavy machinery at a mine site.
Materials Shares

Why are ASX lithium shares being annihilated on Friday?

It's a bad day to own lithium stocks...

Read more »