Jefferies sees growth potential in Newcrest Mining

National CineMedia

01/12/2021 22:49

** Jefferies says Australia's biggest listed gold miner
Newcrest Mining  NCM.AX  has capability for long-term, cheap
production with sustainable avenues for growth
    ** Co, on Tuesday, released Technical Report on its Red
Chris copper-gold project, a JV between NCM and Imperial Metals
Corp, and said it plans to increase mining rate to upto 15Mtpa 
    ** Jefferies says inclusion of any defined resources near
East Ridge prospect would be "incremental positive" to project
    ** Brokerage reiterates its "buy" rating and says increased
gold production from expansion initiatives at NCM's various
projects will drive stock in near future
    ** Eight of 16 analysts rate stock "buy" or higher, six
"hold" and one "sell"; their median PT is A$29.80 – Refinitiv
data
    ** As of last close, NCM down 8.5% this year, compared to a
14% decline in ASX all ordinaries gold index  .AXGD 


    
    

 (Reporting by Himanshi Akhand in Bengaluru)
 ((Himanshi.Akhand@thomsonreuters.com;))