NCM.AX - Newcrest Mining Limited
| Previous close | 29.06 |
| Open | 29.02 |
| Bid | 31.22 x 0 |
| Ask | 26.60 x 0 |
| Day's range | 28.77 - 29.17 |
| 52-week range | 20.70 - 38.87 |
| Volume | 3,679,577 |
| Avg. volume | 4,981,848 |
| Market cap | 23.48B |
| Beta (5Y monthly) | -0.09 |
| PE ratio (TTM) | 39.90 |
| EPS (TTM) | 0.73 |
| Earnings date | 15 Aug 2020 |
| Forward dividend & yield | 0.33 (1.13%) |
| Ex-dividend date | 20 Feb 2020 |
| 1y target est | 15.81 |
- Bloomberg
Gold Giant Australia Is Firing Back Up a Record Exploration Boom
(Bloomberg) -- Gold miners in Australia -- set to leapfrog China next year to become the top producer -- are resuming a pandemic-disrupted exploration spree as prices surge amid a dearth of major discoveries.“Gold does really well in volatile times, so my sense of this is we’re on the cusp of a fairly major boom,” said Rob Bills, chief executive officer of Emmerson Resources Ltd., which plans to restart exploration drilling this week as the nation continues to ease Covid-19-related curbs. “Those companies that have got cash will turn the tap on fairly quickly.”Spending on gold exploration in Australia rose to a new record in the final quarter of 2019, while the annual total of more than A$1 billion ($656 million) was about 20% higher than the previous year, according to government estimates. It’s much needed as there have been no major global gold discoveries in the past three years and only 25 in the last decade, S&P Global Market Intelligence said in a report this month.Gold explorers are eager to restore activity amid forecasts the metal will trade higher for the next several years, even while other industries, and some large metals producers, have announced plans to trim capital expenditure amid caution over the pace of a post-virus recovery.Restrictions on travel between -- and within --Australia’s states, led the mining sector to largely halt on-the-ground exploration work as measures to curb the spread of the virus were introduced from March.This left Perth-based Emmerson’s main field geologist stranded on the island state of Tasmania, while progress on remote projects in the Northern Territory has been impacted by actions aimed at protecting indigenous communities.Newcrest Mining Ltd., the country’s top gold producer, is developing plans to restart exploration programs stalled in countries including Chile and Ecuador, according to an emailed statement. Some activities at isolated sites in Western Australia and Canada have continued during the shutdowns.A lack of major new discoveries also may be a driver in a spree of deal-making that’s hit the gold sector in the past two years. The boom may be an indication that “large, new, economically discoverable gold mining deposits simply no longer exist,” according to Adrian Courtenay, a fund manager at Odey Asset Management LLP.Gold could hit $2,000 an ounce and will remain elevated over the next five years as governments launch stimulus programs, according to Newmont Corp., the world’s largest producer. Investors including VanEck also forecast gold prices to advance.Miners are also looking to exploration to offset a forecast decline in Australia’s gold output as aging operations are retired. Gold volumes in the nation are projected to peak in the 12 months to mid-2022 before gradually falling back, according to the country’s government.“It is an ideal environment for gold companies,” Emmerson’s Bills said. “The cost of drilling hasn’t gone up, and there’s plenty of drill rigs out there –- the market is quite responsive to discoveries, we’re quite positive.”Still, some small companies have struggled to raise money to fund new campaigns and will need more support from capital markets, or to partner with larger producers with stronger balance sheets, Bills said.Extending the higher rates of exploration spending will also need continued easing of travel curbs or government help to facilitate access to remote regions, along with better access to funding, according to Will Robinson, CEO of Encounter Resources Ltd., which has projects in Western Australia and a joint venture agreement with Newcrest.“If those restrictions are eased, I’d expect expenditure to pick up again,” Robinson said. “You’ve got a high gold price, declining reserves, massive investments in new technologies and new data sets to facilitate exploration success -- I think that’s starting to bear fruit.”For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Australian Associated PressNewcrest secures water supplies for Cadia
Gold miner Newcrest says it has enough water supplies at its Cadia mine in NSW to continue uninterrupted production for the next two years.
- Simply Wall St.
Newcrest Mining Limited's (ASX:NCM) Stock Is Going Strong: Have Financials A Role To Play?
Most readers would already be aware that Newcrest Mining's (ASX:NCM) stock increased significantly by 9.5% over the...
- Simply Wall St.
How Does Newcrest Mining's (ASX:NCM) P/E Compare To Its Industry, After Its Big Share Price Gain?
Those holding Newcrest Mining (ASX:NCM) shares must be pleased that the share price has rebounded 22% in the last...
- Simply Wall St.
Should Newcrest Mining (ASX:NCM) Be Disappointed With Their 79% Profit?
While Newcrest Mining Limited (ASX:NCM) shareholders are probably generally happy, the stock hasn't had particularly...
- GlobeNewswire
GFG and Newcrest Extend Option Period on the Rattlesnake Hills Gold Project
The extension will allow Newcrest additional time to consider exercising its option to enter into the earn-in phase of the Agreement. The earn-in phase consists of three stages whereby Newcrest can earn up to 75% of the Project over an eight-year period. See news release dated September 8, 2018 “GFG Signs Option and Earn-In Agreement with Newcrest to Advance the Rattlesnake Hills Gold Project” for complete details of the Agreement.
- Bloomberg
Gold Diggers Resist the Rally’s Lure
(Bloomberg Opinion) -- Bullion prices are at their highest in seven years, closing in on $1,600 an ounce. Gold held by exchange-traded funds is at all-time records and rising, thanks to worries over the economic damage inflicted by the coronavirus outbreak. Reserves, meanwhile, are depleting. It’s a heady mixture for miners, but perhaps not yet an intoxicating one.Take Polyus PJSC, Russia’s largest gold digger. The $17 billion company said last week that it would pay down debt before beginning to spend seriously on its $2.5 billion Sukhoi Log project, set to add 1.6 million ounces a year to supply. That’s quite a statement. This is one of the world’s lowest-cost producers, generating plenty of cash, holding one of most impressive untapped resources globally, at a time of rising prices. The mine promises significant extra output for a company that aims to produce 2.8 million ounces this year. Even so, Polyus is resisting the urge to fast-track, with a roughly two-year “transitional period” of planning before it begins in 2023.Granted, there are circumstances peculiar to Polyus that suggest conservative timing and financing is necessary. The miner is controlled by the son of Suleiman Kerimov, one of a handful of tycoons included in Washington’s 2018 sanctions list. A planned $900 million equity sale to Chinese conglomerate Fosun Group fell apart earlier that year, too. The project itself, meanwhile, is vast, and deep inside Russia, hardly a popular jurisdiction with foreign mining investors.Polyus’s conservative approach is noteworthy, nonetheless. This is an industry that has in general become far more cautious with big-bang projects after a string of boom-time efforts a decade ago, begun in haste and regretted at leisure. Barrick Gold Corp.’s Pascua Lama in South America started in 2000 as a $1.2 billion project; by the time it was shelved in 2013, the estimated cost had soared to $8.5 billion. Polyus learned its own lessons at its Natalka mine. It was trapped by falling prices in 2013 and construction eventually paused, before resuming in 2016. Certainly Sukhoi Log, first studied by Soviet geologists in the 1970s, comes with history and plenty of challenges. The size, at some 63 million ounces and as much of a quarter of Russia’s gold reserves, means it is the largest project on the industry’s horizon, by some way. For Polyus, it adds the equivalent of the annual output of its nearest rival, Polymetal International Plc. That gargantuan scale that leaves plenty of room for costs to spill over. There is processing to resolve, all on site, and transport logistics will be complex given the mine’s location. When I visited in 2012, the airport in the nearest settlement closed if it rained.But the geology isn’t unfamiliar to Polyus, already operating nearby. It will use conventional processing. And the miner’s overall expenses are low by global standards. Its all-in sustaining cost was $594 per ounce in 2019, against Barrick’s $894. That’s a substantial margin even if bullion prices sink to the $1,050 used in Polyus’s Sukhoi Log calculations. It’s all a far cry from the mood of the 2000s bull run, when gold shot up to $1,900 an ounce from $300 in just over a decade, and miners raced behind. The resulting value destruction was immense: Billions were spent on terrible projects and worse companies. A full 80% of the transaction value of the eight largest deals between 2001 and 2011 was impaired, according to a McKinsey & Co. study published last year. The industry’s return on capital between 2010 and 2016 was a pathetic 2.6%.With the gold price trending higher after a couple of years around $1,200 to $1,300, deals have come back, and cashflows are helping exploration budgets rise. It’s notable that M&A discussions are beginning to build in prices closer to $1,500 than the $1,200 or so of recent years. It’s exuberance that hasn’t quite fed through to mega projects.Polyus’s muddy knoll in bleak eastern Siberia has enough gold beneath it to rival behemoths like Grasberg, in Indonesia. As prices climb and buccaneering projects like Newcrest Mining Ltd. and Harmony Gold Mining Co.’s Wafi-Golpu in Papua New Guinea are back in discussion, the question is whether Polyus sets a trend, or becomes the judicious exception. To contact the author of this story: Clara Ferreira Marques at cferreirama@bloomberg.netTo contact the editor responsible for this story: Matthew Brooker at mbrooker1@bloomberg.netThis column does not necessarily reflect the opinion of Bloomberg LP and its owners.Clara Ferreira Marques is a Bloomberg Opinion columnist covering commodities and environmental, social and governance issues. Previously, she was an associate editor for Reuters Breakingviews, and editor and correspondent for Reuters in Singapore, India, the U.K., Italy and Russia.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- Simply Wall St.
Is Newcrest Mining Limited’s (ASX:NCM) Return On Capital Employed Any Good?
Today we'll look at Newcrest Mining Limited (ASX:NCM) and reflect on its potential as an investment. Specifically...
- GlobeNewswire
GFG Announces Drill Results from the Rattlesnake Hills Gold Project in Wyoming, US
The drill program, consisting of 3,900 metres of core drilling in three holes, tested multiple gold targets proximal to the North Stock deposit (See Table 1 and Figures 1 and 2). This initial test of the North Deep and South Deep targets outlined encouraging and widespread alteration, brecciation, sulphidation and multiple porphyry bodies; however, results from this test returned relatively low gold grades.
- Simply Wall St.
Does Newcrest Mining Limited's (ASX:NCM) CEO Salary Compare Well With Others?
Sandeep Biswas became the CEO of Newcrest Mining Limited (ASX:NCM) in 2014. This report will, first, examine the CEO...
- Simply Wall St.
Don't Sell Newcrest Mining Limited (ASX:NCM) Before You Read This
Today, we'll introduce the concept of the P/E ratio for those who are learning about investing. We'll apply a basic...
- GlobeNewswire
GFG and Newcrest Complete Drill Program at Rattlesnake Hills Gold Project, Wyoming
The drill program, consisting of 3,900 metres of core drilling in three holes, tested moderate to deep gold targets proximal to the North Stock deposit (see Figures 1 and 2). At this early stage, the drill program was a success as all three holes hit their intended targets and intersected favourable geological and structural settings.
- Simply Wall St.
Who Has Been Selling Newcrest Mining Limited (ASX:NCM) Shares?
We often see insiders buying up shares in companies that perform well over the long term. The flip side of that is...
- Simply Wall St.
Should Newcrest Mining Limited (ASX:NCM) Focus On Improving This Fundamental Metric?
One of the best investments we can make is in our own knowledge and skill set. With that in mind, this article will...
- Simply Wall St.
If You Had Bought Newcrest Mining (ASX:NCM) Stock Five Years Ago, You Could Pocket A 241% Gain Today
The worst result, after buying shares in a company (assuming no leverage), would be if you lose all the money you put...
- Yahoo Finance AU
Immigration success: Half of top CEOs were born overseas
Equality of opportunity is excellent in Australia, compared to the US.
- ABN Newswire
Carawine Resources Ltd (ASX:CWX) Copper-Gold Porphyry Targets at Hill 800
Perth, Australia, Sep 11, 2019 - (ABN Newswire) - Gold and base metals explorer Carawine Resources Limited ("Carawine" or "the Company") (ASX:CWX) is pleased to announce compelling ...
- Simply Wall St.
Here's Why We Think Newcrest Mining (ASX:NCM) Is Well Worth Watching
Like a puppy chasing its tail, some new investors often chase 'the next big thing', even if that means buying 'story...
- Simply Wall St.
What Should You Know About The Future Of Newcrest Mining Limited's (ASX:NCM)?
Based on Newcrest Mining Limited's (ASX:NCM) earnings update on 30 June 2019, analysts seem fairly confident, with...
- GlobeNewswire
Imperial Closes Sale of a 70% Interest in Red Chris
Imperial Metals Corporation (the “Company”) (III.TO) announces the closing of the previously announced sale of a 70% interest in its Red Chris copper and gold mine in British Columbia, Canada to Newcrest Mining Limited (“Newcrest”) (ASX:NCM) for a final purchase price of US$804 million subject to debt and working capital adjustments. The Company and Newcrest have formed a joint venture for the operation of Red Chris with Newcrest acting as operator.
- Simply Wall St.
Why Newcrest Mining Limited’s (ASX:NCM) Use Of Investor Capital Doesn’t Look Great
Today we'll look at Newcrest Mining Limited (ASX:NCM) and reflect on its potential as an investment. Specifically...
- Simply Wall St.
Is Newcrest Mining Limited's (ASX:NCM) CEO Pay Justified?
Sandeep Biswas became the CEO of Newcrest Mining Limited (ASX:NCM) in 2014. This report will, first, examine the CEO...
- GlobeNewswire
GFG and Newcrest Begin Drilling at Rattlesnake Hills Gold Project, Wyoming
GFG is the operator of the program and will receive a 10% management fee on the total expenditures. SASKATOON, Saskatchewan, July 09, 2019 (GLOBE NEWSWIRE) -- GFG Resources Inc. (GFG.V) (GFGSF) (“GFG” or the “Company”) has started its 2019 drilling program at its Rattlesnake Hills Gold Project in Wyoming, United States. The program will consist of approximately 5,000 to 6,000 metres of core drilling and is fully-funded by GFG’s partner, Newcrest Resources Inc., a wholly-owned subsidiary of Newcrest Mining Limited (ASX:NCM) (“Newcrest”), through its option and earn-in agreement (see news release dated September 11, 2018: GFG Signs Option and Earn-In Agreement with Newcrest to Advance the Rattlesnake Hills Gold Project).
- Simply Wall St.
All You Need To Know About Newcrest Mining Limited's (ASX:NCM) Financial Health
Newcrest Mining Limited (ASX:NCM), a large-cap worth AU$23b, comes to mind for investors seeking a strong and reliable...
