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

NEWCREST MINING LIMITED

(NCM)
  Report
End-of-day quote. End-of-day quote Australian Stock Exchange - 10/27
30.35 AUD   -0.56%
10/14TMX : Newcrest Begins Trading on Toronto Stock Exchange
AQ
10/13NEWCREST MINING : releases Technical Reports for Cadia, Lihir and Wafi-Golpu
PU
10/13NEWCREST MINING : commences trading on the TSX
PU
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Gold miners insist they won't splurge despite price surge

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09/21/2020 | 02:32pm EDT
FILE PHOTO: Gold bars are seen in the vault of the branch office of precious metal trader Degussa in Zurich

The world's top gold miners sought to reassure investors on Monday that they're not going on a spending spree despite surging gold prices boosting their shares and free cash flow.

Miners are opting to give more cash back to shareholders rather than plotting takeovers which the market may disapprove of with the COVID-19 pandemic far from over.

"We don't need to, and will not be, chasing volume," Newmont Chief Executive Tom Palmer told the Gold Forum Americas conference. "In this current gold price environment we are actively assessing an increase to our sustainable dividend."

Newmont's annual dividend of $1 per share was based on a gold price of $1,200 per ounce. Gold was last trading at $1,887 per ounce.

Kinross reinstated its dividend last week, at 12 cents per share annualized, for the first time since 2013. "We think it's a good starting point," CEO Paul Rollinson said at the conference.

Newcrest Mining targets a dividend payout of at least 10% to 30% of free cash flow.

"Having a lot of gold won't create value unless you can achieve strong margins from its extraction," said Newcrest CEO Sandeep Biswas.

Barrick Gold CEO Mark Bristow said the industry needs further consolidation but sought to reassure investors he saw no imminent deals.

"Wherever we see opportunities to add to our Tier 1 portfolio, we'll be right there in front of the queue," he said, but added: "The most important thing is exploration and organic growth."

Barrick will publish a formal dividend policy early next year.

Sibanye-Stillwater would like to increase exposure to gold but it's a "difficult time to do anything," Chief Executive Neal Froneman said.

"We don't anticipate major M&A announcements," Credit Suisse analyst Fahad Tariq said on Friday. Site visits remain difficult and companies are wary of repeating past mistakes, he said.

(Reporting by Helen Reid and Jeff Lewis; editing by Jonathan Oatis)


Stocks mentioned in the article
ChangeLast1st jan.
BARRICK GOLD CORPORATION 0.51% 35.27 Delayed Quote.45.65%
CREDIT SUISSE GROUP AG -2.89% 9.422 Delayed Quote.-25.98%
GOLD 0.40% 1909.11 Delayed Quote.25.13%
NEWCREST MINING LIMITED -0.56% 30.35 End-of-day quote.0.33%
SIBANYE STILLWATER LIMITED -1.94% 50.5 End-of-day quote.40.71%
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All news about NEWCREST MINING LIMITED
10/14TMX : Newcrest Begins Trading on Toronto Stock Exchange
AQ
10/13NEWCREST MINING : releases Technical Reports for Cadia, Lihir and Wafi-Golpu
PU
10/13NEWCREST MINING : commences trading on the TSX
PU
10/13NEWCREST MINING : releases Annual Information Form
PU
10/13NEWCREST MINING : commences trading on TSX
AQ
10/12NEWCREST MINING : - Cadia expansion and Lihir recovery improvement projects appr..
AQ
10/11Australia shares flat as investors await earnings, production results
RE
10/08Australia shares open higher as U.S. stimulus talks progress
RE
10/08NEWCREST MINING : Cadia expansion & Lihir recovery improvement projects approved
AQ
10/08NEWCREST MINING : Cadia expansion & Lihir recovery improvement projects approved
PU
More news
Financials (USD)
Sales 2021 4 560 M - -
Net income 2021 1 128 M - -
Net Debt 2021 256 M - -
P/E ratio 2021 14,6x
Yield 2021 1,25%
Capitalization 17 686 M 17 704 M -
EV / Sales 2021 3,93x
EV / Sales 2022 4,08x
Nbr of Employees 5 304
Free-Float 99,6%
Chart NEWCREST MINING LIMITED
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Technical analysis trends NEWCREST MINING LIMITED
Short TermMid-TermLong Term
TrendsNeutralNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 15
Average target price 25,68 $
Last Close Price 21,72 $
Spread / Highest target 46,0%
Spread / Average Target 18,3%
Spread / Lowest Target -10,4%
EPS Revisions
Managers
NameTitle
Sandeep Biswas Chief Executive Officer, Executive Director & MD
Peter Algernon Franc Hay Independent Non-Executive Chairman
Gerard Bond CFO, Finance Director & Executive Director
Suresh Vadnagra Chief Technical & Projects Officer
Philip Stanley Aiken Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
NEWCREST MINING LIMITED0.89%17 704
NEWMONT CORPORATION38.83%48 611
BARRICK GOLD CORPORATION45.98%47 625
POLYUS126.35%29 132
WHEATON PRECIOUS METALS CORP.65.01%21 747
AGNICO EAGLE MINES LIMITED28.76%19 154