NCM 1.65% $29.23 newcrest mining limited

why the market likes it

  1. 9,081 Posts.
    Notwithstanding the short term anomolies caused by NCM's dehedging and the increased production costs (that are affecting all in the industry) the positives still outweigh the negatives by a country mile.

    * Half Yearly profit up 184% to $207.9 million (almost trippled)

    * 18% increase in gold production

    * Telfer problems being resolved

    * Aggressive exploration programme in play

    * A rampaging gold price to which NCM will be fully exposed to by Year's end when the remainder of the hedge book is fully closed out

    * Looking forward -- production is set to increase expotentially and that means expotential increase in profits

    * Higher costs notwithstanding, NCM by both global and local standards is still one lowest cost gold producers around

    Remember, the market is predictive, and based on future earnings NCM is certainly not overvalued.

    I would not short this in my wildest dreams - unless some unforseen event from left field alters the picture.
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