In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a decent gain. At the time of writing, the benchmark index is up 0.6% to 8,166.9 points.
Four ASX shares that have failed to follow the market higher today are listed below. Here's why they are falling:
Amcor (ASX: AMC)
The Amcor share price is down 2.5% to $15.62. This appears to have been driven by a broker note out of Macquarie this morning. According to the note, the broker has downgraded the packaging company's shares to a neutral rating (from outperform) with a trimmed price target of $16.30 (from $16.50). Although Amcor delivered a result in line with expectations and management has reaffirmed its guidance, it downgraded its rating due to the lack of upside potential for investors.
Boss Energy Ltd (ASX: BOE)
The Boss Energy share price is down 5% to $3.26. This is despite there being no news out of the uranium producer on Monday. However, it is worth noting that most ASX uranium stocks are trading lower today. It is also worth highlighting that a number of these shares, Boss Energy included, feature among the most shorted on the Australian share market. At the last count, Boss Energy had 15.4% of its shares held short. This makes it the second most shorted share on the local market. Its shares are now down 40% over the past six months.
Brickworks Limited (ASX: BKW)
The Brickworks share price is down 1.5% to $26.73. This has been driven by the building products company's shares going ex-dividend on Monday. In September, Brickworks released its full year results and declared a fully franked final dividend of 43 cents per share. This was up a single cent on the prior corresponding period. Eligible shareholders can look forward to receiving this dividend later this month on 27 November.
Mineral Resources Ltd (ASX: MIN)
The Mineral Resources share price is down over 8% to $37.21. Investors have been selling this mining and mining services company's shares after it announced that its founder and CEO, Chris Ellison, is stepping down. It also advised that Ellison will incur board-imposed financial penalties of $8.8 million, and loss of remuneration of up to $9.6 million. This reflects "the significance of corporate governance and reputational issues to the Company." This comes after the board identified a range of issues and shortcomings that demanded a strong and comprehensive governance response.
