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MarketScreener Homepage  >  Equities  >  Australian Stock Exchange  >  Newcrest Mining Limited    NCM   AU000000NCM7

NEWCREST MINING LIMITED

(NCM)
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Australian shares eye best week in four as U.S. election results trickle in

11/05/2020 | 07:46pm EST

(Corrects weekly milestone in first paragraph and headline to best in four)

* Gold stocks rise most in over 4 months

* Macquarie Group beats 1H21 guidance

* NZ share rise most in nearly a month

Nov 6 (Reuters) - Australian shares rallied on Friday and headed for their biggest weekly gain in four, as they tracked global equities on increased expectations that a divided U.S. Congress could hurt plans for higher corporate taxes.

Gold and mining stocks propelled the S&P/ASX 200 index 0.5% higher to 6,172.5 by 0008 GMT. For the week, it is poised to gain about 4.2%.

Equity markets have gained this week despite uncertainty around the U.S. presidential race, as investors hoped a mixed Congress during a possible Joe Biden presidency would make big policy changes hard to enact.

Biden was edging closer to victory after winning Michigan and Wisconsin, but his Democratic Party appeared unlikely to win the Senate. That eased investor worries about tighter regulations on Big Tech and a corporate tax hike.

The gold index surged 4.5%, its biggest one-day rise since June 22, as bullion prices rallied on a weaker dollar following growing prospects of a Biden win.

Top gold producer Newcrest Mining Ltd added 3.6% and Ocean Corp climbed 6.8%.

Underpinning positive sentiment in gold stocks, miners rose 2.1%.

Financial stocks found support from investment bank Macquarie Group Ltd's first-half profit, which was ahead of its expectations. Its shares gained 3%.

A subindex of tech stocks followed its U.S. peers higher, led by Wise Tech Global Ltd, up 3.8%.

The number of issues on the AS that advanced were 964 while 390 declined as a 2.5-to-1 ratio favoured advancers.

In New Zealand, the benchmark S&P/NZX 50 index climbed by its most in nearly a month, rising 1.2% to 12,392.3.

Financials and utilities drove gains in the Wellington bourse, with dairy products maker Synaptic Milk jumping as much as 11% after settling a land dispute. (Reporting by A K Pranav in Bengaluru; editing by Uttaresh.V)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
MACQUARIE GROUP LIMITED -0.01% 137.08 End-of-day quote.-1.01%
NEWCREST MINING LIMITED -1.57% 26.34 End-of-day quote.2.17%
OCEANAGOLD CORPORATION -1.25% 2.37 End-of-day quote.-8.14%
S&P/ASX 200 0.36% 6824.7 Real-time Quote.3.61%
SYNLAIT MILK LIMITED 1.07% 4.71 End-of-day quote.-9.94%
WISETECH GLOBAL LIMITED 1.78% 33.79 End-of-day quote.9.89%
All news about NEWCREST MINING LIMITED
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01/12Australia's Newcrest Mining gets regulatory nod for $113.5 million Havieron p..
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01/12NCM Announces Havieron Project Receives Regulatory and Funding Approval
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01/12NEWCREST MINING : Havieron Project receives regulatory and funding approval
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01/04Australia shares post solid start to year as miners shine
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More news
Financials (USD)
Sales 2021 4 612 M - -
Net income 2021 1 201 M - -
Net Debt 2021 366 M - -
P/E ratio 2021 13,6x
Yield 2021 1,28%
Capitalization 16 547 M 16 608 M -
EV / Sales 2021 3,67x
EV / Sales 2022 3,84x
Nbr of Employees 5 304
Free-Float 99,5%
Chart NEWCREST MINING LIMITED
Duration : Period :
Newcrest Mining Limited Technical Analysis Chart | NCM | AU000000NCM7 | MarketScreener
Technical analysis trends NEWCREST MINING LIMITED
Short TermMid-TermLong Term
TrendsNeutralBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 16
Average target price 25,58 $
Last Close Price 20,32 $
Spread / Highest target 67,1%
Spread / Average Target 25,9%
Spread / Lowest Target 7,55%
EPS Revisions
Managers and Directors
NameTitle
Sandeep Biswas Chief Executive Officer, Executive Director & MD
Peter Algernon Franc Hay Independent Non-Executive Chairman
Gerard Bond CFO, Finance Director & Executive Director
Suresh Vadnagra Chief Technical & Projects Officer
Philip Stanley Aiken Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
NEWCREST MINING LIMITED2.17%16 508
NEWMONT CORPORATION2.92%49 709
BARRICK GOLD CORPORATION2.93%41 605
POLYUS-0.82%26 791
WHEATON PRECIOUS METALS CORP.-3.37%18 133
AGNICO EAGLE MINES LIMITED0.87%17 238