Newcrest Mining: Analysts upbeat on Australian firm's organic growth outlook

Iodm

30/04/2021 01:25

** Citi expects Australia's largest listed gold miner
Newcrest Mining  NCM.AX  to record higher gold production in the
June quarter at lower costs
    ** Says there's not another gold miner in its ASX coverage
with the scale of organic growth options that NCM has
    ** Brokerage expects record June quarter from NCM's flagship
Cadia mine in New South Wales
    ** NCM on Thursday posted a slight drop in its third-quarter
gold output compared with the prior three months  urn:newsml:reuters.com:*:nL4N2ML5VP
    ** But it remains on track to deliver its FY21 guidance, and
says it has not experienced any material disruption from
COVID-19 to date
    ** Brokerage cuts price target to A$30.50 from A$32.00, but
maintains "buy" recommendation
    ** NCM offers strong gold exposure with several long-life
assets and a large mineral inventory, which places them well to
take advantage of any positive gold price movements - RBC
Capital 
    ** Eight of 15 analysts rate the stock "buy" or higher, six
"hold" and one "sell"; their median PT is A$30.40 – Refinitiv
data

 (Reporting by Sameer Manekar in Bengaluru)
 ((Sameer.Manekar@thomsonreuters.com;))