In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is off its lows but still in the red. At the time of writing, the benchmark index is down 0.25% to 8,675.7 points.
Four ASX shares that are not letting that hold them back are listed below. Here's why they are rising:
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Bapcor Ltd (ASX: BAP)
The Bapcor share price is up 2.5% to $3.83. Investors may be buying this auto parts retailer's shares on the belief that they were oversold last week. The team at Macquarie isn't rushing in to buy shares, though. In response to Bapcor's update, the broker downgraded its shares to a neutral rating with a heavily reduced price target of $3.80. It said: "Downgrade to Neutral (from Outperform). Given the limited details provided in the trading update on segment performance and outlook trends, we have lower conviction in our forecasts and await further information at the FY25 results."
Ramelius Resources Ltd (ASX: RMS)
The Ramelius share price is up 2% to $2.65. This follows the release of the gold miner's quarterly update. Ramelius reported group gold production of 73,454 ounces at an all-in sustaining cost (AISC) of A$1,339 per ounce. It notes that the former exceeds the upper end of its upgraded production guidance range of 62,000 ounces to 72,000 ounces for the quarter. Ramelius boasted a sector leading ASIC margin of A$3,103 per ounce for the three months, which drove underlying free cash flow of A$207.8 million.
Sandfire Resources Ltd (ASX: SFR)
The Sandfire Resources share price is up 1% to $11.11. Investors have been buying this copper miner's shares following the release of its quarterly update. Sandfire posted a 12% increase in group copper equivalent production to 152.4kt for FY 2025. While this was 1% below its guidance for the year, it couldn't stop Sandfire from posting a 46% jump in underlying EBITDA to $528 million for the 12 months. Sandfire's CEO and Managing Director, Brendan Harris, said: "Despite record rainfall and a major power outage, MATSA once again processed 4.5Mt of ore in FY25 to deliver a 3% increase in CuEq production to 94.1kt, finishing the year an immaterial 1% below guidance that was set in July 2024."
WIA Gold Ltd (ASX: WIA)
The WIA Gold share price is up almost 2% to 29 cents. This follows the release of the gold developer's quarterly update this morning. Investors appear pleased with the progress the company is making at the Kokoseb Gold Project in Namibia. It reminded investors that recent drilling delivered an "increase in contained gold to 2.93 Moz Au, up 38%, to 89Mt at 1.0g/t (0.50 g/t Au cut-off)."
