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    NCM   AU000000NCM7

NEWCREST MINING LIMITED

(NCM)
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Energy, mining stocks lift Australia shares as markets cheer easing of virus curbs

09/15/2021 | 09:18pm EDT

Sept 16 (Reuters) - Australian shares rose on Thursday, driven by gains in energy and mining sectors on stronger commodity prices, while investors took comfort in the government's decision to ease restrictions for vaccinated citizens in New South Wales.

The benchmark S&P/ASX 200 index was up 0.4% at 7449.10 points, as of 0032 GMT.

Even as the state of Victoria recorded its biggest one-day rise in COVID-19 cases in a year, restrictions eased in New South Wales for vaccinated citizens, with ending of a night curfew in Sydney.

Among sectors, the energy sub-index gained the most, rising 2% on the back of strong oil prices after a drawdown in U.S. crude inventories.

Whitehaven Coal Ltd was the top gainer, up 4.3%, after the environment ministry approved its Vickery coal mine extension project in New South Wales.

Mining stocks added 1% on strong copper prices, with index gaint BHP Group rising 1.2%.

Banks rose 0.3%, with the "Big Four" banks all trading in positive territory.

Gold stocks, however, lost 0.5% as bullion prices were down, with gold miners Northern Star Resources and Newcrest Mining shedding around 0.8% each.

Myer Holdings was one of the top gainers in the All Ordinaries Index, adding nearly 7% after the retail company posted an annual profit of A$50.7 million ($37.2 million), driven by strong online sales.

Telstra eyed its best session in five weeks after the Australian telcom said it aimed to extend 5G coverage to 95% of the country by the end of 2025.

New Zealand's benchmark S&P/NZX 50 index was steady at 13,105.22 points, with financial services company Heartland Group Holdings Ltd being the best performer with a 1.3% gain.

The country's economy grew at a much faster pace than expected in the second quarter, officials said on Thursday.

Elsewhere, Japan's Nikkei rose 0.2%, while the S&P E-minis futures were up 0.1%.

($1 = 1.3630 Australian dollars) (Reporting by Yamini C S in Bengaluru, Editing by Sherry Jacob-Phillips)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
BHP GROUP 0.74% 37.93 End-of-day quote.-10.61%
HEARTLAND GROUP HOLDINGS LIMITED -0.42% 2.35 End-of-day quote.41.57%
MYER HOLDINGS LIMITED 4.55% 0.575 End-of-day quote.98.28%
NEWCREST MINING LIMITED 1.48% 25.31 End-of-day quote.-1.82%
NORTHERN STAR RESOURCES LIMITED 1.90% 9.66 End-of-day quote.-23.88%
TELSTRA CORPORATION LIMITED 2.14% 3.81 End-of-day quote.27.85%
WHITEHAVEN COAL LIMITED -1.73% 2.84 End-of-day quote.72.64%
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Financials (USD)
Sales 2022 4 281 M - -
Net income 2022 882 M - -
Net Debt 2022 175 M - -
P/E ratio 2022 17,5x
Yield 2022 1,47%
Capitalization 15 458 M 15 471 M -
EV / Sales 2022 3,65x
EV / Sales 2023 3,51x
Nbr of Employees 5 304
Free-Float 99,6%
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Mean consensus OUTPERFORM
Number of Analysts 17
Last Close Price 18,96 $
Average target price 21,50 $
Spread / Average Target 13,4%
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Managers and Directors
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
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