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    NCM   AU000000NCM7

NEWCREST MINING LIMITED

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Delayed Australian Stock Exchange  -  01:36 2022-06-28 am EDT
22.38 AUD   +2.94%
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Australian shares dragged by mining, gold firms; U.S. inflation in focus

05/10/2022 | 09:19pm EDT

May 11 (Reuters) - Australian shares fell for a fourth straight day on Wednesday, with mining and gold stocks leading the declines, as caution around U.S. inflation data amid risks of sharp interest-rate hikes and a global recession weighed on equities.

The S&P/ASX 200 index slid 0.5% to 7,018.80 by 0035 GMT, after having ended 1% lower on Tuesday.

Markets have been volatile across asset classes as a combination of surging inflation and fears that monetary tightening aimed to tame inflation would slow down global economic growth.

In Asia, Japan's Nikkei shed 0.36% and S&P 500 E-minis futures were up just 0.06%.

Domestic gold stocks dropped 2% and marked a fourth consecutive losing session.

Sector major Newcrest Mining fell 2.4%.

Bullion prices fell overnight as the dollar resumed strengthening and cautious investors shifted focus to the U.S. inflation data due later in the day.

Miners, too, were down for a fourth straight session as they tracked iron ore and base metal prices lower, to slump 1.4%.

Sector heavyweights BHP Group and Rio Tinto declined 1.2% and 0.2% respectively.

Iron ore prices fell on Tuesday as the demand outlook was pressured by COVID-19 lockdowns in China.

Energy stocks retreated 0.7% as oil prices slumped, while financials lost 0.5%.

Bucking the trend, healthcare stocks rose 1% and were the only gainers on the benchmark.

Agribusiness firm Graincorp Ltd fell 2.6% amid a weak broader market, even as it reported around five-fold jump in first-half profit.

In New Zealand, the benchmark S&P/NZX 50 index was up 0.2% at 11,256.12. (Reporting by Himanshi Akhand in Bengaluru; editing by Uttaresh.V)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
BHP GROUP LIMITED 2.95% 42.73 Delayed Quote.-3.57%
BRITISH POUND / US DOLLAR (GBP/USD) -0.12% 1.22682 Delayed Quote.-9.29%
CANADIAN DOLLAR / US DOLLAR (CAD/USD) 0.28% 0.77777 Delayed Quote.-2.00%
EURO / US DOLLAR (EUR/USD) 0.13% 1.05744 Delayed Quote.-7.18%
GRAINCORP LIMITED 3.08% 9.54 Delayed Quote.9.93%
INDIAN RUPEE / US DOLLAR (INR/USD) -0.24% 0.012716 Delayed Quote.-4.81%
LONDON BRENT OIL 2.93% 116.32 Delayed Quote.43.77%
NEW ZEALAND DOLLAR / US DOLLAR (NZD/USD) -0.31% 0.62885 Delayed Quote.-7.66%
NEWCREST MINING LIMITED -5.64% 22.38 Delayed Quote.-11.19%
NIKKEI 225 1.43% 26871.27 Real-time Quote.-7.99%
S&P/ASX 200 0.35% 6747.5 Real-time Quote.-11.63%
WTI 3.33% 110.637 Delayed Quote.42.71%
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Financials (USD)
Sales 2022 4 254 M - -
Net income 2022 869 M - -
Net Debt 2022 1 733 M - -
P/E ratio 2022 14,8x
Yield 2022 1,55%
Capitalization 13 454 M 13 454 M -
EV / Sales 2022 3,57x
EV / Sales 2023 2,81x
Nbr of Employees 5 304
Free-Float 99,1%
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Mean consensus OUTPERFORM
Number of Analysts 17
Last Close Price 15,10 $
Average target price 20,90 $
Spread / Average Target 38,4%
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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
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