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    NCM   AU000000NCM7

NEWCREST MINING LIMITED

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Australian shares hit 1-month low on tech sell-off

01/19/2022 | 01:02am EDT

Jan 19 (Reuters) - Australian shares fell on Wednesday to their lowest close in a month, weighed down by technology stocks after a spike in U.S. Treasury yields on prospects of aggressive interest rate hikes sent Wall Street peers lower overnight.

The S&P/ASX 200 closed 1% lower at 7,332.50 in its second straight session of fall, with tech stocks shedding 2.6% to hit their lowest in nearly eight months.

Buy now, pay later firm Afterpay slid 1.2%, while Xero and WiseTech Global retreated 2.4% and 4.2%, respectively.

Brad Smoling, managing director of Smoling Stockbroking, said a subdued start to the U.S. earnings season also weighed on sentiment.

"Rates are really high on U.S. Treasury yields, sending a lot of nerves in the market," he said.

Among other sectors, financials dropped 1.4%, after authorities said Australia should brace for more COVID-19 deaths for the next few weeks, as record infections fuelled by the Omicron outbreak overwhelmed health systems.

Surveys released this week showed Australian consumer sentiment was hit in January as a surge in coronavirus cases filled up hospitals and curbed spending.

Weak bullion prices reduced the appeal of gold stocks, sending the sectoral sub-index down 1.9%.

Gold majors Newcrest Mining and Northern Star Resources were down 0.9% and 3.4%, respectively.

Energy stocks rose 0.6% as oil prices rallied to a seven-year high amid tight supply outlook and geopolitical troubles in Russia and the United Arab Emirates.

Oil and gas explorers Woodside Petroleum and Santos rose 0.9% and 2%, respectively.

Across the Tasman Sea, New Zealand's S&P/NZX 50 fell 1.6% to 12,612.31. (Reporting by Upasana Singh in Bengaluru; Editing by Subhranshu Sahu)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
AFTERPAY -2.18% 66.47 End-of-day quote.-19.93%
LONDON BRENT OIL 0.44% 112.675 Delayed Quote.41.60%
NEWCREST MINING LIMITED 0.81% 24.82 Delayed Quote.1.23%
NORTHERN STAR RESOURCES LIMITED 1.29% 8.595 Delayed Quote.-8.18%
ON SEMICONDUCTOR CORPORATION -1.83% 55.15 Delayed Quote.-18.80%
S&P 500 -0.29% 4008.01 Real-time Quote.-15.57%
S&P/ASX 200 0.25% 7105.8 Real-time Quote.-4.96%
SANTOS LIMITED 0.50% 8.265 Delayed Quote.28.21%
US DOLLAR / RUSSIAN ROUBLE (USD/RUB) -0.97% 64.25 Delayed Quote.-13.93%
WISETECH GLOBAL LIMITED 0.22% 40.62 Delayed Quote.-29.82%
WOODSIDE PETROLEUM LTD 0.33% 31.06 Delayed Quote.39.08%
WTI 1.11% 113.805 Delayed Quote.44.13%
XERO LIMITED 4.42% 86.39 Delayed Quote.-37.87%
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Analyst Recommendations on NEWCREST MINING LIMITED
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Financials (USD)
Sales 2022 4 284 M - -
Net income 2022 881 M - -
Net Debt 2022 1 709 M - -
P/E ratio 2022 16,9x
Yield 2022 1,35%
Capitalization 15 282 M 15 282 M -
EV / Sales 2022 3,97x
EV / Sales 2023 3,14x
Nbr of Employees 5 304
Free-Float 99,1%
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Technical analysis trends NEWCREST MINING LIMITED
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Mean consensus OUTPERFORM
Number of Analysts 17
Last Close Price 17,15 $
Average target price 21,38 $
Spread / Average Target 24,7%
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Managers and Directors
Sandeep Biswas Chief Executive Officer, MD & Executive Director
Sherry Duhe Chief Financial Officer
Peter William Tomsett Independent Non-Executive Chairman
Suresh Vadnagra Chief Technical & Projects Officer
Phil Stephenson Chief Operating Officer-Australia & Americas
Sector and Competitors