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 8,150.3 points.
Four ASX shares that have failed to follow the market higher today are listed below. Here's why they are falling:
ALS Ltd (ASX: ALQ)
The ALS share price is down almost 10% to $13.53. This morning, this testing services company revealed that its Commodities business has recently encountered volume headwinds within the Minerals division. It advised that volumes in geochemistry and metallurgy remain patchy, and fluctuations have become even more pronounced in July and August. In light of this, management expects its underlying net profit after tax to be down by ~5% during the first half of FY 2025. This is short of what the market was expecting from ALS.
Atlas Arteria Group (ASX: ALX)
The Atlas Arteria share price is down 2.5% to $4.84. This follows the announcement of the toll road operator's next dividend. Atlas Arteria revealed that for the six months ended 30 June 2024, it plans to pay a 20 cents per share dividend. This is consistent with the guidance it provided in its half year results announcement last month. Its shares will go ex-dividend for it on 24 September. After which, the payment will be made to eligible shareholders next month on 7 October.
Kingsgate Consolidated Limited (ASX: KCN)
The Kingsgate Consolidated share price is down 8.5% to $1.24. Investors have been hitting the sell button today after the gold miner released an update on its guidance for FY 2025 and FY 2026. Gold equivalent production is expected in the range of 86,000 to 97,000 ounces this year with all-in sustaining costs (AISC) of US$1,650 to US$1,800 per ounce. Whereas in FY 2026, it is guiding to production of 102,000 to 130,000 ounces with an AISC of US$1,400 to US$1,600 per ounce. Investors appear disappointed with Kingsgate's cost guidance. Though, management has advised that it "is focused on further increasing efficiency and reducing costs, with a view to improving the published ranges."
Tourism Holdings Ltd (ASX: THL)
The Tourism Holdings share price is down 5.5% to $1.77. This has been driven partly by the tourism operator's shares going ex-dividend this morning. Last month, the company released its results and declared a 4.6 cents per share dividend. It will be paid to eligible shareholders next month on 4 October.
