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Newcrest Mining (NCM) $24.42

The negative operational surprises appear behind us for NCM after it announced a 55% jump in profits for the full-year on revenue of $4.6bn, EBITDA soared 33% to $2.4bn. At this stage it feels that whatever NCM had delivered the stock was destined to drift in-line with negative sentiment towards the sector, we believe this could be an ever tightening spring but the sentiment doesn’t warrant MM increasing our current exposure.

NCM
MM is bullish NCM but frustrated by its performance
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Newcrest Mining (NCM)
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