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Australian Investment Blog

ASX:NCM 25/07/2019

Newcrest (NCM) shares dip, but the quarterly is a positive

Stock Newcrest (NCM) $33.95 as at 25/07/2019 Event Quarterlies seem to be the main stock specific news of the week and Newcrest kept the theme going today with their June quarter production report today. The gold miner is trading slightly lower, but is well outperforming its peers with Evolution (EVN) and Northern Star (NST) both trading 3.5% worse today. The June quarter rounds out the year for Newcrest with total gold production rising 6%  helped by a record final quarter for the company’s biggest project, Cadia. The realised gold price slipped around 3%, but this was more than offset in the margins by a 12% fall in costs.. Growth options for Newcrest remain strong, however they are experiencing some delays to the PNG project Wafi-Golpu. PNG is a notoriously difficult country to keep to timeline in mining projects, and the market shouldn’t be taking this delay too personally. The company also working on a stake in Canadian mine Red Chris as well as a feasibility study into a Cadia expansion which should help the company deliver production growth for years to come. NCM will provide guidance for FY20 at the full year result in August. Newcrest (NCM) Chart Newcrest Mining (NCM) Chart Market Matters Take/Outlook

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