In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to end the week on a positive note. At the time of writing, the benchmark index is up 0.5% to 7,959.7 points.
Four ASX shares that have failed to follow the market higher today are listed below. Here's why they are falling:
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Emerald Resources (ASX: EMR)
The Emerald Resources share price is down 5% to $3.95. Investors have been selling this gold miner's shares after it released an update on its production. Management advised that Okvau Gold Mine gold production for the third quarter of FY 2025 is anticipated to be around 20,000 ounces. This is short of its quarterly guidance of 25,000 ounces to 30,000 ounces. The company blamed the miss on "earthworks and waste movements related to the cut back activities [which] hampered production during the current Quarter."
New Hope Corporation Ltd (ASX: NHC)
The New Hope share price is down 3% to $4.08. This may have been driven by profit taking from some investors following strong gains this week. For example, even after today's decline, the coal miner's shares are up 10% since this time last week. The catalyst for this was the release of its half year results on Tuesday. New Hope revealed a 35% increase in net profit after tax to $340.3 million for the six months. This allowed the company to lift its interim dividend by 11.8% to 19 cents per share.
Paladin Energy Ltd (ASX: PDN)
The Paladin Energy share price is down 3.5% to $6.59. This uranium producer's shares have come under pressure today after it suspended production at the Langer Heinrich Mine in Namibia. Management advised that it decided to temporarily suspend operations after unseasonal heavy rains impacted access to the mine. The company stated that the full impact of the weather event and disruption to production will be assessed when conditions have stabilised.
Pilbara Minerals Ltd (ASX: PLS)
The Pilbara Minerals share price is down 3.5% to $1.88. This is despite there being no news out of the lithium miner on Friday. However, it is worth noting that a number of lithium stocks are falling today. This appears to have been triggered by a weak night of trade for lithium peers on Wall Street on Thursday. Falling today's weakness, the Pilbara Minerals share price is now down by over 50% since this time last year.
