The S&P/ASX 200 Index (ASX: XJO) is having a relatively positive start to the week. In afternoon trade, the benchmark index is up 0.1% to 8,221 points.

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

Adriatic Metals (ASX: ADT)

The Adriatic Metals share price is down 6% to $4.04. This follows the release of the silver miner's third quarter update. While the company revealed a big quarter on quarter jump in production, it appears to have fallen short of the market's expectations. Adriatic Metals' new CEO, Laura Tyler, was pleased. She commented: "Having spent the last few months onsite at the Vares Silver Operation, I am proud of the significant strides made throughout the quarter. We successfully mined our first stope, resulting in a substantial production increase to 63,100 tonnes and there was a notable advancement in underground development."

Metcash Ltd (ASX: MTS)

The Metcash share price is down 3% to $3.10. This morning, analysts at Macquarie downgraded the wholesale distributor's shares to an underperform rating (from outperform) and cut the price target on them to $3.45. The broker made the move in response to a disappointing update, which revealed weaker than expected sales from the high margin hardware business. And with the broker expecting tough trading conditions to continue, it has taken an axe to its earnings estimates for the medium term.

Paladin Energy Ltd (ASX: PDN)

The Paladin Energy share price is down 16% to $10.23. Investors have been selling this uranium miner's shares after it released its first quarter update. For the three months ended 30 September, Paladin Energy reported U3O8 production of 0.64Mlb and sales of 0.62Mlb. The latter pulled in cash receipts of US$24.8 million, which implies a selling price well below current spot prices. Management also revealed that some short-term operational challenges were encountered during the quarter, which impacted ore feed, recovery rates and production volumes.

Westgold Resources Ltd (ASX: WGX)

The Westgold Resources share price is down 4% to $3.16. This morning, the gold miner announced that it has executed a commitment letter with ING Bank and Societe Generale to increase its existing $100 million syndicated facility agreement to $300 million through the addition of a new $200 million facility. Westgold's CEO, Wayne Bramwell, commented: "Increasing our undrawn facilities to $300M bolsters our balance sheet and enhances Westgold's financial agility to execute on our growth strategy in FY25."