The S&P/ASX 200 Index (ASX: XJO) is having a subdued finish to the week. In afternoon trade, the benchmark index is down 0.15% to 8,627.3 points.
Four ASX shares that are falling more than most today are listed below. Here's why they are dropping:
Alkane Resources Ltd (ASX: ALK)
The Alkane Resources share price is down 4% to $1.51. Investors have been selling this gold miner's shares following the release of its third-quarter result. Alkane delivered record revenue of $274.4 million for the three months ended 31 March 2026. Net profit increased to a record $93 million, which is up materially on the $8.1 million it reported in the prior corresponding period. The company's managing director, Nic Earner, said: "Alkane has just delivered the strongest quarter in its history. During a period of high gold and antimony prices, the power of our three mine portfolio delivered exceptional operating results as they produced a record 44,669 ounces of gold and 377 tonnes of antimony, which generated record profit after taxes of $93 million." This has been overshadowed by broad weakness in the gold industry today.
Bapcor Ltd (ASX: BAP)
The Bapcor share price is down a further 5.5% to 39.7 cents. This auto parts retailer's shares have been sold off this week following the release of another disappointing update. Bapcor revealed that its performance in the second half of FY 2026 has been negatively impacted by the Middle East conflict. This means that it now expects underlying EBITDA in the range of $144 million to $150 million, which is down from its previous guidance of $150 million to $160 million. Bapcor's CEO, Chris Wilesmith, commented: "We are pleased with the positive momentum of the turnaround, which has been delivered through decisive actions we've taken to improve pricing, stock availability and team engagement. This is despite the challenging external environment which was not contemplated when we began this turnaround, and which has slowed the rate of improvement contemplated in our previous guidance."
PLS Group Ltd (ASX: PLS)
The PLS share price is down 6.5% to $5.97. This is despite there being no news out of the lithium miner on Friday. However, it is worth noting that lithium stocks on Wall Street tumbled overnight. This appears to have led to ASX lithium stocks following suit today. Despite this decline, PLS shares are still up around 270% since this time last year.
Resolute Mining Ltd (ASX: RSG)
The Resolute Mining share price is down almost 7% to $1.30. Investors have been selling this gold miner's shares after it was forced to retract an announcement from earlier this week relating to a scoping study. It said: "Following consultation with ASX, the Company has been advised that it did not have a reasonable basis for those forward-looking statements due to the reliance on inferred resources in the production targets, resulting in the published production targets and forecast financial information being inconsistent with the requirements of the ASX Listing Rule 5.16 6."
The post Why Alkane Resources, Bapcor, PLS, and Resolute Mining shares are sinking today appeared first on The Motley Fool Australia.
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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