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

EQ Resources Ltd (ASX: EQR)

The EQ Resources share price is down 5.5% to 25.5 cents. This follows news that the tungsten producer announced that it will not go ahead with the proposed acquisition of Tungsten Metals Group. EQR Resources' managing director, Craig Bradshaw, said: "Following thorough engagement with TMG Group throughout 2025 and a careful review of our strategic priorities during the second and third quarters of FY2026, the Board has determined that proceeding with the acquisition is not in the best interests of shareholders at this time."

Inghams Group Ltd (ASX: ING)

The Inghams share price is down 4% to $1.81. This may have been driven by a broker note out of Bell Potter. According to the note, the broker has downgraded the poultry producer's shares to a hold rating (from buy) with a reduced price target of $2.00 (from $2.75). It said: "We downgrade our rating from Buy to Hold. Recent commentary from other ASX listed entities would imply a softening in foodservice and out-of-home channels as consumer confidence has weakened over March-April."

ResMed Inc (ASX: RMD)

The ResMed share price is down 4% to $28.53. Investors have been selling the sleep disorder treatment company's shares following the release of its third-quarter update. ResMed reported an 11% (8% in constant currency) increase in revenue to US$1.4 billion. However, higher expenses meant that net income increased at a slower rate of 9% to US$398.7 million. ResMed's CEO, Mick Farrell, said: Our third quarter results reflect the continued strength of our global business, driven by ongoing demand for our market-leading products and disciplined execution of our strategy."

Skycity Entertainment Group Ltd (ASX: SKC)

The Skycity share price is down over 3% to 52.2 cents. This morning, the casino and resorts operator downgraded its earnings guidance. It now expects underlying EBITDA to be $180 million to $190 million. This is down from its previous guidance of $190 million to $210 million. The company blamed the negative impact that rising fuel prices are having on consumers.

The post Why EQ Resources, Inghams, ResMed, and Skycity shares are tumbling today appeared first on The Motley Fool Australia.

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

Brightstar Resources Ltd (ASX: BTR)

The Brightstar Resources share price is down 4% to 41.7 cents. This appears to have been driven by the gold miner issuing almost 245 million new shares this morning. Last month, Brightstar Resources announced a strategic $180 million capital raising to fund a material increase in production. Brightstar's managing director, Alex Rovira, said: "To emerge with all the equity funding required to build our Goldfields Hub, as well as a substantial budget that enables accelerated pre-development activities at Sandstone and to fully fund Sandstone to FID, is an amazing opportunity for Brightstar that enables us to maintain the momentum of de-risking our portfolio of advanced gold projects."

EQ Resources Ltd (ASX: EQR)

The EQ Resources share price is down 6.5% to 29 cents. This is despite the tungsten producer releasing an investor presentation this morning. Within the presentation, management stated: "EQR is one of the largest producers of tungsten outside of restricted countries, with spot-priced offtake agreements in place, supplying Europe, North America and Asian markets."

Novonix Ltd (ASX: NVX)

The Novonix share price is down almost 5% to 26.2 cents. This has been driven by news that the battery technology company's NASDAQ-traded shares could be delisted due to its weak share price. It advised: "The notice states that, for the previous 30 consecutive business days, the closing bid price of the Company's American Depositary Receipts (ADRs) listed on the Nasdaq has been below the minimum requirement of US$1.00 per ADR. In accordance with Nasdaq Listing Rules, the Company has 180 calendar days from the date of the notice to regain compliance (compliance period). To regain compliance, the closing bid price of the Company's ADR's must be at least US$1.00 per ADR for a minimum of 10 consecutive business days during the compliance period."

Pro Medicus Ltd (ASX: PME)

The Pro Medicus share price is down a further 2% to $125.40. This is despite there being no news out of the health imaging technology company. However, Pro Medicus' shares have been under pressure this year amid concerns over AI disruption. This has seen the Pro Medicus share price lose over 40% of its value since the turn of the year.

The post Why Brightstar, EQ Resources, Novonix, and Pro Medicus shares are falling today appeared first on The Motley Fool Australia.

The S&P/ASX 300 Metal & Mining Index (ASX: XMM) has also dropped 14.4% since the war started, but is up 38% over the past year.

ASX mining shares have been on a tear over the past year as commodity prices have lifted and Australia commenced a new mining boom.

ASX small-caps have also outperformed over the period, largely due to interest rates falling in many Western nations.

The war in Iran may reverse this tailwind, as we've seen today with the Reserve Bank of Australia lifting rates again by 0.25%.

As always with small-caps, stock selection is critical.

The following two ASX small-cap mining shares have rocketed over the past 12 months, and these experts say it's time to sell.

Let's find out more.

EQ Resources Ltd (ASX: EQR)

The EQ Resources share price is 33 cents, down 9.7% on Tuesday but up 713% over the past year.

EQ Resources owns a tungsten mine in Mt Carbine in North Queensland, and also holds gold exploration licences in NSW.

The company's long-term ambition is to become Australia's pre-eminent producer of tungsten, which is used to harden metals.

This month, Morgans issued a new note downgrading this ASX small-cap mining share from a speculative buy rating to a trim rating.

The broker increased its 12-month price target from 16 cents to 23 cents.

Morgans explained the change:

The ammonium paratungstate (APT) price continues to climb, above US$1,600 per metric tonne unit (mtu – 10kg).

We have lifted the modelled short-term price to US$1,300/mtu, and our long-term price from US$600/mtu to US$700/mtu.

With the share price above our target price, we lower our rating to TRIM from Speculative Buy.

Morgans added:

Continued strength in the tungsten price, a most critical metal, could lead to a further increase in our target price.

Lunnon Metals Ltd (ASX: LM8)

The Lunnon Metals share price is 40 cents, down 1.3% today but up 98% over the past 12 months.

Lunnon Metals is a nickel explorer with assets in the Kambalda district of Western Australia.

On The Bull this week, Nathan Lodge from Securities Vault revealed a sell rating on this ASX nickel mining share.

Lodge explained:

The company's strategy centres on exploring and advancing sulphide nickel deposits in a region historically known for high grade discoveries and established mining infrastructure.

However, global nickel prices have been under sustained pressure as supply from Indonesia has increased rapidly, creating a structural oversupply in the market.

For companies, such as Lunnon Metals, exploration success isn't sufficient to drive value if the underlying commodity price environment remains weak.

The nickel price is US$17,485 per tonne on Tuesday, up 4% in the year to date and up 7% over the past 12 months.

The post 2 ASX small-cap mining shares to sell: Experts appeared first on The Motley Fool Australia.

Four ASX shares that are acting as a drag on the market today are listed below. Here's why they are falling:

BHP Group Ltd (ASX: BHP)

The BHP share price is down almost 2% to $54.73. This has been driven by the mining giant's shares going ex-dividend this morning for its interim dividend. When a share goes ex-dividend, it means the rights to the payout are now locked in and new buyers won't be able to receive the dividend. Last month, BHP released its half-year results and declared a fully franked interim dividend of 73 US cents per share. This will be paid to eligible shareholders later this month on 26 March.

EQ Resources Ltd (ASX: EQR)

The EQ Resources share price is down 3% to 33 cents. The catalyst for this may have been a broker note out of Morgans. According to the note, the broker has downgraded the miner's shares to a trim rating with a price target of 23 cents. It said: "Our valuation and target price have lifted from A$0.16 per share to A$0.23ps. Continued strength in the tungsten price, a most critical metal, could lead to a further increase in our target price. With the share price above our target price, we lower our rating to TRIM from Speculative Buy. Tungsten concentrate production at the start of this current March Quarter may have been affected by the Wet Season in north Queensland at Mt Carbine, and to some extent at Barruecopardo, Salamanca Province, Spain."

Lottery Corporation Ltd (ASX: TLC)

The Lottery Corporation share price is down almost 2% to $5.30. This morning, this lottery company released an update on operational changes. Under the new model, Lottery Corporation will create three customer-facing business units. These are Lotteries, Digital, and Keno. The company's CEO, Wayne Pickup, said: "We have a strong foundation and our strategy has served the Company well, but we can unlock more value. This new structure gives us the clarity and accountability to accelerate our evolution as a digital entertainment company, concentrate on local market growth and make faster, better decisions."

Woodside Energy Group Ltd (ASX: WDS)

The Woodside share price is down 2.5% to $30.01. This has also been driven by the energy giant's shares going ex-dividend this morning for its latest dividend. Last month, Woodside released its full-year results and declared a final dividend of 59 US cents per share. This brought its full-year fully franked dividend to US$1.12 per share or US$2.1 billion. Eligible shareholders can look forward to receiving the final dividend later this month on 27 March.

The post Why BHP, EQ Resources, Lottery Corp, and Woodside shares are falling today appeared first on The Motley Fool Australia.

The company said in a brief statement to the ASX on Tuesday that it had produced 38,292 metric tonne units (MTU) of tungsten during the December quarter, which was up 33% on the previous quarter.

The company added that this came at a time when the tungsten price was particularly strong, at US$825 per MTU on December 26, which was up 42% quarter on quarter.

The price increased further to US$900 per MTU by January 2, the company added. One MTU is equal to 10kg of tungsten trioxide.

Shares test record highs

EQ Resources shares traded as high as 9.9 cents – a 12-month high – on the news before settling back to be 11.7% higher at 9.6 cents.

The company's shares have traded as low as 2.5 cents over the past year, with that level recorded in late January last year.

EQ Resources said in its briefing to shareholders at the company's annual general meeting in November that it had "one of the largest tungsten resource bases outside of China", across its Mt Carbine mine in Australia and its Barruecopardo mine in Spain.

The company said it was aiming for a "material increase" in production over calendar year 2026, "as Barruecopardo performance strengthens and Mr Carbine accesses the high-grade Iolanthe vein''.

The company said tungsten was now being recognised as a critical mineral, with China controlling 85% of production, and few near-term Western projects on the drawing board "despite rising demand from defence, aerospace and clean energy sectors''.

The company said further:

With recovery improvements at Barruecopardo and a waste cut back under way at Mt Carbine, EQ Resources is well-placed to significantly increase production subject to execution of planned activities.  

EQ Resources has a minimum nine-year mine plan at Barruecopardo, with expansion potential, while the current mine plan for Mt Carbine has an eight-year life.

The company also informed the ASX in a statement in December that it had raised $34 million through a share placement at 5 cents per share, with the funds to be used to advance the Mt Carbine mine, pay down debt and receivables, and bolster working capital.

At the same time, Oaktree agreed to convert a $7.25 million loan to equity.

EQ Resources was valued at $396.7 million at the close of trade on Monday.

The post Almost a four bagger, this ASX tungsten company says production is strong as its shares hit a record appeared first on The Motley Fool Australia.

The soaring junior ASX miners in question are Tungsten Mining NL (ASX: TGN) and EQ Resources Ltd (ASX: EQR).

Tungsten Mining shares closed yesterday trading for 8.8 cents. In earlier trade, shares were just changing hands for 14.5 cents apiece, up 64.8%. After some like profit-taking, shares are currently trading for 11.5 cents each, up 30.7%.

EQ Resources is also having a banner day. The small-cap ASX mining share is up 46.4% at the time of writing, trading for 4.1 cents a share.

For some context, the All Ordinaries Index (ASX: XAO) is up 0.7% at this same time.

Here's why shareholders have US President Donald Trump and Chinese President Xi Jinping to thank.

Aussie miners could fill the China tariff void

While Trump put new tariffs on Canada and Mexico on hold for a month to pursue negotiations, a fresh round of tariffs on China was enacted on Tuesday.

China wasted no time in responding, slapping targeted retaliatory tariffs on US energy imports, vehicles, farm equipment, clothing, and big tech.

Of relevance to the two rocketing ASX mining shares, China also implemented export restrictions on tungsten, tellurium, molybdenum, and ruthenium, crucial elements for various military technologies and the clean energy transition.

With China responsible for roughly 80% of the global tungsten supply, investors are turning their eyes to Australia's EQ Resources and Tungsten Mining as alternative producers of the critical metals.

Commenting on the impact of China's export restrictions on tungsten, Luke Adriaans, research analyst at Project Blue, said (quoted by Bloomberg), "The recent announcement is surprising. The industries most likely to be affected include the defence sector, where tungsten is a crucial material for munitions manufacturing."

Enter the small-cap ASX mining shares

While EQ Resources and Tungsten Mining won't be able to fill the entire gap left by China's export restrictions on tungsten, both ASX mining shares have been ramping up their production and exploration efforts.

At its quarterly results for the three months to 31 December (Q2 FY2025), EQR reported producing 42,292 metric ton units (mtu) of tungsten concentrate, or 422.9 tonnes. The 2.6 million total tonnes mined over the quarter reflected a 4% increase in total tonnes mined.

As for Tungsten Mining, the small-cap ASX mining share recently reported on numerous high-grade tungsten mineralisation intercepts from the ongoing drill campaign at its Hatches Creek project in the Northern Territory.

Tungsten Mining chairman Gary Lyons noted:

TGN now has rights to explore all minerals on the Mt Mulgine tenements including gold and other minerals beyond tungsten and molybdenum following the acquisition of Mt Mulgine Project tenements.

The Hatches Creek Project is now 100% owned by TGN and we have a maiden Mineral Resource Estimate underway for Hatches Creek following the successful drilling program. We are driving these exciting projects forward.

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