Insights

Why AVZ Minerals, Imugene, Pointerra, & Resolute shares are dropping

It hasn’t been a good day for these ASX shares…
The post Why AVZ Minerals, Imugene, Pointerra, & Resolute shares are dropping appeared first on The Motley Fool Australia. –

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a solid gain. At the time of writing, the benchmark index is up 0.45% to 7,413.6 points.

Four ASX shares that are failing to follow the market higher today are listed below. Here’s why they are dropping:

AVZ Minerals Ltd (ASX: AVZ)

The AVZ Minerals share price is down 7% to 19.5 cents. This follows the release of the lithium explorer’s quarterly update this morning. Investors appear concerned with AVZ Minerals’ weakening balance sheet, which could require a capital injection in the very near future. The company ended the period with cash of $2.85 million, down from just under $6 million three months earlier.

Imugene Limited (ASX: IMU)

The Imugene share price has sunk 10% to 29.7 cents after returning from a trading halt. This morning the biotech company announced the completion of a $90 million institutional placement. The company raised the funds at a 9.1% discount of 30 cents per new share. The company is now seeking to raise a further $5 million from retail investors at the same price. The proceeds will be used to fund Imugene’s clinical trial pipeline through to the end of 2025.

Pointerra Ltd (ASX: 3DP)

The Pointerra share price has fallen 10% to 42.7 cents. This follows the release of a quarterly update from the 3D geospatial data technology company. Pointerra reported a 24% quarterly increase in annual contract value (ACV) to US$9.8 million over the three months ended 29 July. Investors appear to have been expecting much stronger growth from the company.

Resolute Mining Limited (ASX: RSG)

The Resolute Mining share price is down 8% to 52 cents. This follows the release of a disappointing second quarter update by the gold miner. That update revealed weaker production, higher costs, and softer sales. In light of its poor performance, the company has downgraded its full year guidance.

The post Why AVZ Minerals, Imugene, Pointerra, & Resolute shares are dropping appeared first on The Motley Fool Australia.

Wondering where you should invest $1,000 right now?

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.

*Returns as of May 24th 2021

More reading

What’s happening with the Pointerra (ASX:3DP) share price today?
Capital keeps flowing into ASX Biotech shares in 2021

Why the Resolute Mining (ASX:RSG) share price is crashing 8% today
ASX 200 midday update: Rio Tinto charges higher, IRESS rockets, Macquarie update

Why BARD1, Imugene, Northern Star, & Silver Lake shares are sinking

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. owns shares of and has recommended Pointerra Limited. The Motley Fool Australia has recommended Pointerra Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!