|Bid||28.28 x 0|
|Ask||28.28 x 0|
|Day's range||28.09 - 28.92|
|52-week range||23.53 - 38.87|
|Beta (5Y monthly)||-0.09|
|PE ratio (TTM)||38.97|
|Earnings date||14 Feb 2020|
|Forward dividend & yield||0.33 (1.14%)|
|Ex-dividend date||20 Feb 2020|
|1y target est||15.81|
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.
Which industries should you invest in during a recession? There aren’t many that would be safe from economic pain. The post Which industries should you invest in during a recession? appeared first on Motley Fool Australia.
(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 email@example.comTo contact the editor responsible for this story: Matthew Brooker at firstname.lastname@example.orgThis 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.
Altium Limited (ASX:ALU), Bendigo and Adelaide Bank Ltd (ASX:BEN), and QBE Insurance Group Ltd (ASX:QBE) shares will be on watch on the ASX 200 on Monday…The post 5 things to watch on the ASX 200 on Monday appeared first on Motley Fool Australia.
The Newcrest Mining Limited (ASX: NCM) share price has fluctuated in early trade following its half-year earnings release.The post Newcrest Mining share price shaky following earnings release appeared first on Motley Fool Australia.
Shares in ASX tech investment group Bailador Technology Investments Ltd (ASX: BTI) are on watch after the group's half-year earnings report.The post Why this ASX tech investment group is on watch today appeared first on Motley Fool Australia.
The Newcrest Mining Limited (ASX:NCM) share price is pushing higher on Tuesday. Here's what you need to know...The post Why the Newcrest Mining share price is pushing higher today appeared first on Motley Fool Australia.
Challenger Ltd (ASX:CGF), Santos Ltd (ASX:STO), and Suncorp Group Ltd (ASX:SUN) shares will be on watch on the ASX 200 on Monday…The post 5 things to watch on the ASX 200 on Tuesday appeared first on Motley Fool Australia.
Newcrest Mining Limited (ASX: NCM) is positioned for years of low-cost gold production with an agreement to purchase property with 93 contiguous mining claims in Canada’s Golden Triangle.The post Here’s why I think the Newcrest share price is in the buy zone appeared first on Motley Fool Australia.
Today we'll look at Newcrest Mining Limited (ASX:NCM) and reflect on its potential as an investment. Specifically...
The Newcrest Mining Limited (ASX: NCM) share price is up after the ASX miner agrees to divest its Gosowong mine in Indonesia.The post Newcrest Mining share price rises after $90 million mine divestment appeared first on Motley Fool Australia.
The S&P/ASX 200 (Index:^AXJO)(ASX:XJO) and ALL ORDINARIES (Index:^AXAO) (ASX:XAO) ended down on Thursday, here are 8 ASX shares you missed.The post ALL ORDINARIES finishes lower Thursday: 8 ASX shares you missed appeared first on Motley Fool Australia.
Northern Star share price is falling with the gold sector but the stock is also weighed down by two brokers who downgraded the stock. The post Why the Northern Star share price is hit by a double downgrade appeared first on Motley Fool Australia.
The Newcrest Mining Limited (ASX: NCM) share price is struggling today after the company released its quarterly report and raised concerns of drought conditions impacting output levels.The post Newcrest share price sinks on drought concerns appeared first on Motley Fool Australia.
(Bloomberg) -- A drought in parts of Australia that’s delivered record low rainfall is posing potential risks to output at key gold mines in the world’s second-largest producer.Rainfall in New South Wales state has been at one-in-100 year lows for the past two years, Newcrest Mining Ltd. said Thursday, flagging that production at its flagship Cadia operation could be impacted by the end of this year if the conditions persist.The mine is Newcrest’s most profitable and accounted for more than two-thirds of earnings in the last fiscal year, according to filings by the nation’s top producer of the metal. Its shares fell as much as 5.1% in Sydney.Australia experienced the lowest December rainfall total on record last month, the Bureau of Meteorology said in a Jan. 7 statement. Arid conditions in parts of the Murray-Darling Basin region, which covers several states and key mining districts, have persisted since early 2017 and are severely limiting water resources.Low rainfall totals over the past 36 months in parts of the Murray–Darling Basin region have broken records set during Australia’s Federation Drought between 1900 and 1902, the bureau said Thursday in an email.New South Wales “remains impacted by a severe drought,” Newcrest said in its statement. “Cadia has implemented significant water saving efficiency measures and continues to pursue further water saving initiatives.” The operation would escape any hit to output if rainfall reverted to more typical historical levels, the company said.Crop producers to wine makers are also among industry sectors that have been grappling with the impact of restricted water supply in Australia’s east. GrainCorp Ltd. in August lowered its earnings estimate, citing issues including the drought, while Treasury Wine Estates Ltd. said Tuesday its 2020 Australian vintage would experience an impact.Evolution Mining Ltd., which operates the Cowal mine in NSW on the edge of a lake about 350 kilometers (217 miles) west of Sydney, said Wednesday it had spent the past 12 months seeking to curb the operation’s reliance on surface water and comply with state-wide restrictions.“Due to the sustained drought conditions there is potential for these water restrictions to increase,” the producer said in a statement.China Molybdenum Co., which controls the Northparkes copper and gold mine in central NSW has also previously said that it is exploring options to boost water conservation.Gold miners require vast quantities of water to process excavated ore into precious metals, typically using more than 250 megaliters to produce a ton of gold, according to Australia’s national science agency. The mining sector’s approach to water stewardship is under increasing scrutiny as investors focus more on environmental performance.To contact the reporter on this story: David Stringer in Melbourne at email@example.comTo contact the editors responsible for this story: Alexander Kwiatkowski at firstname.lastname@example.org, Keith Gosman, Jake Lloyd-SmithFor 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.
Several shutdowns at Newcrest Mining's Lihir mine in Papua New Guinea have resulted in a 16 per cent fall in gold output in the second quarter.
Credit Corp Group Limited (ASX:CCP), Crown Resorts Ltd (ASX:CWN), and Webjet Limited (ASX: WEB) shares are on the move on the ASX 200 on Tuesday...The post ASX 200 lunch update: ANZ, Crown, & Webjet lower appeared first on Motley Fool Australia.
Gold has been supported by record low interest rates but the coronavirus outbreak could give it a boost to around US$2,000 an ounce. The post Can gold surge to US$2000 on coronavirus scare? appeared first on Motley Fool Australia.
There’s never a good time for a virus pandemic, but the spreading coronavirus threat couldn’t come at a worst time for local investors.The post Coronavirus couldn’t come at a worst time for ASX investors appeared first on Motley Fool Australia.
In times of economic uncertainty investors often flock to the safe haven of gold. Here's why ASX 200 shares are the better option.The post Forget gold! This is why ASX shares are a better buy appeared first on Motley Fool Australia.
The 2020 gold bull market is just beginning. Here are 3 ASX gold mining shares to buy now. The post 3 ASX gold mining shares to buy for the 2020 gold bull market! appeared first on Motley Fool Australia.
Metcash Limited (ASX:MTS), Santos Ltd (ASX:STO), and Westpac Banking Corp (ASX:WBC) shares will be on watch on the ASX 200 on Thursday...The post 5 things to watch on the ASX 200 on Thursday appeared first on Motley Fool Australia.