Newcrest (NCM) FY21 result meets expectations
FY21 Result: A decent set of results for Australia’s No 1 gold stocks today with NCM meeting or beating expectations for FY21. NPAT came in at $1.16b vs consensus at $1.04b on slightly higher than expected revenue. They guided to a slight fall in gold production to 1.8-2moz in FY22, though this was already well understood by the market. In terms of growth, they talked up a number of projects and we particularly enjoyed commentary around their key asset Lihir where they expect to extend the mine life further. Shares finished 1.07% higher today.
MM is bullish NCM
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