Newcrest (NCM) +4.05%: A good set of numbers from NCM this morning for the half with a big earnings and dividend beat relative to some low expectations, plus they put forward a credible plan to increase production at Lihir by around 10%. They also saidgroup gold production is expected to be towards the upper end of the guidance range plus importantly, it seems there is clear potential for more out of production and therefore earnings vs current expectations (which are very low). NCM is the cheapest gold stocks out there, has been hurt by operational mishaps over the years and while one half doesn’t make a summer, it’s a good sign. Some of these long term ‘dogs’ might be turning around!!
MM is bullish NCM
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