The S&P/ASX 200 Index (ASX: XJO) is having a very strong session on Thursday. At the time of writing, the benchmark index is up 1.5% to 8,341.4 points.
Four ASX shares that have failed to follow the market higher today are listed below. Here's why they are falling:
Image source: Getty Images
Computershare Ltd (ASX: CPU)
The Computershare share price is down almost 1.5% to $33.50. This appears to have been driven by a broker note out of Goldman Sachs this morning. It has downgraded the stock transfer company's shares to a neutral rating with a price target of $35.50. The broker said: "CPU has had a strong share price run benefiting from a supportive macro backdrop driven by a) Yield expectations and b) A strong US dollar. […] with CPU now trading at close to ~17x FY25 earnings based on current USD/AUD FX, which we think is more fairly priced vs. how CPU has traded historically, we therefore downgrade CPU to Neutral."
Ora Banda Mining Ltd (ASX: OBM)
The Ora Banda Mining share price is down 2.5% to 75 cents. Investors have been selling this gold miner's shares following the release of its quarterly update. Ora Banda's production and sales dropped quarter on quarter. Gold production was 22,973 ounces for the period, bringing first half production to 47,300 ounces. Whereas gold sold came in at 22,288 ounces, taking total first half FY 2025 gold sold to 47,824 ounces. Nevertheless, management believes it is on track to achieve its full year guidance.
Origin Energy Ltd (ASX: ORG)
The Origin Energy share price is down 1% to $11.10. This has also been driven by a broker note out of Goldman Sachs. The broker has downgraded Origin Energy's shares to a neutral rating (from buy) with a slightly improved price target of $10.40. It said: "We consider the stock fully valued after recent strong performance with risk for negative consensus valuation revisions on higher cash tax payments in FY25."
Vulcan Energy Resources Ltd (ASX: VUL)
The Vulcan Energy share price is down 2.5% to $6.05. This is despite there being no news out of the lithium developer today. However, with its shares defying 2024's lithium selloff with a stunning gain, it is possible that some profit taking is happening today. Vulcan Energy's shares remain up over 180% since this time last year despite today's weakness. Excitement around its European lithium operations has given its shares a boost during this time.
