The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has again surged past 5,700 points today, up almost 0.8% despite a rather lacklustre start to the session. Leading the way are businesses such as Aconex Ltd (ASX: ACX) and Liquefied Natural Gas Ltd (ASX: LNG), together with Woolworths Limited (ASX: WOW).
Unfortunately, however, a number of shares have not joined in the fun. Here's why these four ASX shares are on the nose with investors today…
EVOLUTION FPO (ASX: EVN) and Silver Lake Resources Limited. (ASX: SLR) have both plunged 6.6% today with both companies' share prices now sitting well below their 52-week highs. The gold miners' shares have plummeted as a result of a heavy fall in the gold price this week, which is likely a result of profit taking and Donald Trump's pro-growth economic policies.
In addition to the falling gold price, Evolution's and Silver Lake's follow gold miner Perseus Mining Limited (ASX: PRU) which appears to be suffering after it released its December quarterly review. Its shares have plunged 16.4%. The gold miner revised its production guidance for the June 2017 half-year to between 125,000 and 145,000 ounces to a range of just 90,000 to 110,001 ounces. Thankfully, it did also reduce its guidance for costs for the period.
Mantra Group Ltd (ASX: MTR) shares have declined another 3.2% today to trade at $2.72. The company didn't release any news today that would explain the decline, although investors have been quite bearish on the stock for the past 12 months. Indeed, the shares have now lost 45% since their high almost a year ago, having declined steadily in the time since.
