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NCM - Newcrest Mining News Story

A$29.56 -2.3  -7.2%

Last Trade - 7:10am

Sector
Basic Materials
Size
Large Cap
Market Cap £13.12bn
Enterprise Value £14.28bn
Revenue £3.12bn
Position in Universe 19th / 1837

BUZZ-Jefferies backs Aussie gold miners; names Evolution Mining 'top pick'

Wed 8th April, 2020 12:10am
** Jefferies says it backs miners and starts coverage on
Evolution Mining Ltd  EVN.AX , Saracen Mineral Holdings Ltd
 SAR.AX  and Newcrest Mining Ltd  NCM.AX 
    ** Brokerage calls EVN its "top pick" among Aussie gold
stocks & says co is well-positioned to deliver longer-term value
via profitable production growth
    ** Jefferies assigns "buy" rating to EVN and SAR, while
rating NCM at "hold"
    ** Brokerage sees increasing profitability among the gold
miners in 2020 and 2021
    ** NCM is considered the preferred proxy for gold price
exposure in Australia by Jefferies; brokerage, however, says
near/medium-term cash flow & returns will be depressed due to
the nature of mining method
    ** Jefferies says SAR's acquisition of Super Pit and growth
from Carosue Dam and Thunderbox will translate into 10% earnings
growth over 10 yrs; expects a maiden dividend in FY21 
    ** Australia's gold index closed up 3.8% on Tuesday, marking
the fourth time the index closed in the green in last five
sessions
    ** Sub-index down 4.5% this year, as of last close, compared
with a 20% decline in the benchmark S&P/ASX 200 index  .AXJO  

 (Reporting by R.R.Deepti Sri in Bengaluru; Editing by Sam
Holmes)
 ((deepti.sri@thomsonreuters.com))
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