Why Dacian Gold, Evolution, Vocus, & Volpara shares tumbled lower today

The Dacian Gold Ltd (ASX:DCN) share price and the Vocus Group Ltd (ASX:VOC) share price are two of four tumbling notably lower on the ASX on Wednesday…

| More on:
a woman

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

In afternoon trade the S&P/ASX 200 index has returned to form and is trading notably higher following a positive night on Wall Street. At the time of writing the benchmark index is up 0.5% to 6,363.9 points.

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

The Dacian Gold Ltd (ASX: DCN) share price has crashed a massive 64% lower to 57.5 cents after providing an update on its Mt Morgans operation. According to the release, due to underground contractor performance issues returning, the company has downgraded its quarterly production guidance and increased its costs guidance materially. Instead of 50,000-55,000 ounces of gold at an AISC of $1,050-$1,150 an ounce, Dacian now expects to produce 36,000-38,000 ounces at an AISC of $1,500-$1,600 an ounce.

The Evolution Mining Ltd (ASX: EVN) share price has dropped 5% to $3.90. The majority of Australia's gold producers have fallen notably lower today despite the gold price pushing to a three-month high. Investors appear to have rotated out of safe haven assets after investor sentiment improved.

The Vocus Group Ltd (ASX: VOC) share price has crashed 18% lower to $3.75. The telco company's shares have been sold off today after it revealed that takeover discussions with EQT Infrastructure have been terminated. The company advised that after an accelerated period of due diligence, EQT has decided not to proceed with its $5.25 cash per share offer.

The Volpara Health Technologies Ltd (ASX: VHT) share price is down 7.5% to $1.71 after the medical technology company successfully completed its institutional placement. According to the release, the oversubscribed placement raised $45 million and the institutional component of the entitlement offer raised the maximum amount of approximately $5 million, both at $1.50 per share. The proceeds will be used to fund the acquisition of US-based MRS Systems and further organic growth.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended VOLPARA FPO NZ. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Share Fallers

A male investor wearing a blue shirt looks off to the side with a miffed look on his face as the share price declines.
Share Fallers

Why Brainchip, Findi, Lottery Corp, and REA shares are falling today

These shares are ending the week in the red. But why?

Read more »

Frustrated stock trader screaming while looking at mobile phone, symbolising a falling share price.
Share Fallers

Why ALS, Black Cat, Boss Energy, and Soul Patts shares are falling today

These shares are falling on Thursday. Let's find out why.

Read more »

Frustrated stock trader screaming while looking at mobile phone, symbolising a falling share price.
Share Fallers

Why ALS, Fisher & Paykel Healthcare, IPD, and Predictive Discovery shares are falling today

These shares are having a tough time on hump day. But why?

Read more »

A man looks down with fright as he falls towards the ground.
Share Fallers

Why Aspen, Healius, Nufarm, and Propel shares are falling today

These shares are having a tough session on Tuesday. But why?

Read more »

A worried man holds his head and look at his computer.
Share Fallers

Why Elders, James Hardie, Origin Energy, and SGH shares are falling today

These shares are starting the week in the red. But why?

Read more »

Bored man sitting at his desk with his laptop.
Share Fallers

Why Catalyst Metals, Duratec, Nufarm, and Rio Tinto shares are dropping today

These shares are ending the week in the red. But why?

Read more »

A man sits in despair at his computer with his hands either side of his head, staring into the screen with a pained and anguished look on his face, in a home office setting.
Share Fallers

Why Dexus, Mayne Pharma, Nufarm, and Treasury Wine shares are falling today

These shares are having a tough session on Thursday. But why?

Read more »

A young man clasps his hand to his head with his eyes closed and a pained expression on his face as he clasps a laptop computer in front of him, seemingly learning of bad news or a poor investment.
Share Fallers

Why James Hardie, Mayne Pharma, Nufarm, and Resimac shares are falling today

These shares are having a tough time on hump day. But why?

Read more »