In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to end the week with a strong gain. At the time of writing, the benchmark index is up 1.2% to 8,698.3 points.
Four ASX shares that have failed to follow the market higher today are listed below. Here's why they are falling:
Champion Iron Ltd (ASX: CIA)
The Champion Iron share price is down 6% to $4.49. This morning, Bell Potter responded to the iron ore producer's results by retaining its hold rating with a reduced price target of $4.85. It said: "CIA expect to ramp-up high-grade concentrate (DRPF grade) production from mid2026. While we expect iron content price premiums for this product, full value-in-use premiums are unlikely to be realised until longer-term offtake is secured. Free cash flow should improve from FY27 as capex rolls off, supporting debt servicing and ongoing dividends. On valuation, we retain our Hold recommendation."
IDP Education Ltd (ASX: IEL)
The IDP Education share price is down 15% to $2.25. This may have been driven by a broker note out of Macquarie. According to the note, the broker has downgraded the language testing and student placement company's shares to an underperform rating (from neutral) with a reduced price target of $2.35 (from $5.45). The broker made the move on the belief that IDP Education could fall short of expectations partly due to weak student visa volumes.
Tuas Ltd (ASX: TUA)
The Tuas share price is down a further 1.5% to $2.06. Investors have been selling down this Singapore-based telco's shares this week after it terminated its proposed S$1.4 billion acquisition of M1 Limited. Tuas made the move after authorities learned that its Simba business may have been using radio frequency bands it was not authorised to use. To fund the acquisition, Tuas undertook a A$416 million capital raising at $5.51 per new share.
Woodside Energy Group Ltd (ASX: WDS)
The Woodside Energy share price is down over 1% to $30.29. Investors have been selling energy shares today amid news that the US and Iran are closing in on a deal to extend their ceasefire and reopen the Strait of Hormuz. If oil starts flowing through the strait again, it could put significant pressure on oil prices. The S&P/ASX 200 Energy index is down 1% at the time of writing.
The post Why Champion Iron, IDP Education, Tuas, and Woodside shares are dropping today appeared first on The Motley Fool Australia.
Motley Fool contributor James Mickleboro has positions in Woodside Energy Group Ltd. 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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