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

NEWCREST MINING LIMITED

(NCM)
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Australia shares close at highest in over a year, extend gains for 4th session

04/07/2021 | 02:47am EDT

* Tech stocks up for 4th session

* Travel stocks extend gains after "travel bubble" announcement

* Gold, energy sectors lift benchmark

April 7 (Reuters) - Australian shares on Wednesday closed at their highest in over a year, extending gains for the fourth straight session, helped by the country's energy and gold sectors.

The S&P/ASX 200 index rose 0.61% to 6,928.0 at the close of trade, its highest close since Feb. 24 last year.

"What's really at play right now is to get a handle on which direction we're going with rates and expectations for inflation," said Brad Smoling, managing director at Smoling Stockbroking.

On Tuesday, the country's central bank left lending rates unchanged at an all time-low, and promised to remain accommodative for as long as it took to push inflation within its 2% to 3% target range.

"The Australian exchange is really sort of spinning its wheels, there's no direction to take a lead from at this stage," Smoling said.

Gold stocks extended gains for a third session and closed up 2.3%, as bullion prices rose overnight, though prices dipped on Wednesday as strong U.S. data sparked economic recovery hopes.

Index heavyweight Newcrest Mining Ltd rose 1.1% and ended higher for a third session.

Energy stocks closed up 1.4%, tracking an uptick in oil prices on the prospects of stronger global economic growth amid increased COVID-19 vaccinations.

Woodside Petroleum Ltd and Santos Ltd rose 1.2% and 1.9%, respectively.

Tech stocks continued their winning streak for a fourth session, with Afterpay Ltd adding 1.9%.

Travel stocks extended gains following the announcement of quaratine-free "travel bubble" between Australia and New Zealand on Tuesday. Qantas Airways Ltd climbed 2.6%, while Flight Centre Travel Group Ltd added 1.2%.

New Zealand's benchmark S&P/NZX 50 index rose 0.7% to finish the session at 12,487.59. (Reporting by Arundhati Dutta in Bengaluru; Editing by Shounak Dasgupta)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
AFTERPAY LIMITED -0.22% 121.2 End-of-day quote.2.71%
FLIGHT CENTRE TRAVEL GROUP LIMITED -1.19% 18.2 End-of-day quote.14.83%
NEWCREST MINING LIMITED -2.47% 26.04 End-of-day quote.1.01%
QANTAS AIRWAYS LIMITED -2.39% 5.32 End-of-day quote.9.69%
S&P/ASX 200 -0.30% 6974 Real-time Quote.6.20%
SANTOS LIMITED 0.85% 7.13 End-of-day quote.13.72%
WOODSIDE PETROLEUM LTD 0.04% 24.33 End-of-day quote.6.99%
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More news
Financials (USD)
Sales 2021 4 529 M - -
Net income 2021 1 117 M - -
Net Debt 2021 248 M - -
P/E ratio 2021 18,7x
Yield 2021 1,14%
Capitalization 21 240 M 16 192 M -
EV / Sales 2021 4,74x
EV / Sales 2022 4,82x
Nbr of Employees 5 304
Free-Float 99,5%
Chart NEWCREST MINING LIMITED
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Newcrest Mining Limited Technical Analysis Chart | MarketScreener
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Technical analysis trends NEWCREST MINING LIMITED
Short TermMid-TermLong Term
TrendsBullishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 16
Average target price 23,81 $
Last Close Price 26,04 $
Spread / Highest target 31,6%
Spread / Average Target -8,56%
Spread / Lowest Target -26,3%
EPS Revisions
Managers and Directors
NameTitle
Sandeep Biswas Chief Executive Officer, Executive Director & MD
Gerard Bond CFO, Finance Director & Executive Director
Peter Algernon Franc Hay Independent Non-Executive Chairman
Suresh Vadnagra Chief Technical & Projects Officer
Maria Esperanza Sanz Perez Secretary, Chief Legal, Risk & Compliance Officer
Sector and Competitors
1st jan.Capitalization (M$)
NEWCREST MINING LIMITED1.01%16 602
NEWMONT CORPORATION2.71%49 227
BARRICK GOLD CORPORATION-8.38%37 626
POLYUS-5.68%24 928
WHEATON PRECIOUS METALS CORP.-0.98%18 868
AGNICO EAGLE MINES LIMITED-13.81%14 809