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4-Traders Homepage  >  Equities  >  AUSTRALIAN SECURITIES EXCHANGE LIMITED  >  Newcrest Mining Limited    NCM   AU000000NCM7

NEWCREST MINING LIMITED (NCM)
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Newcrest Mining Limited : Newcrest Mining Cuts Its Full-Year Gold Production Guidance

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04/24/2012 | 01:28am CEST

Newcrest Mining Ltd. (NCM.AU, NCMGY, NM.T), Australia's largest producer of gold, again cut its output target for the financial year Tuesday following heavy rains and production disruptions at key operations.

Gold production for the year through June is now expected to be between 2.25 million and 2.35 million ounces, rather than the 2.43 million to 2.55 million previously forecast, the Melbourne company said. It also reduced its guidance for annual copper production to a range of 70,000 to 75,000 metric tons from the 75,000 to 80,000 tons previously forecast.

Newcrest said it produced 532,237 ounces of gold and 18,072 tons of copper in the March quarter, down 12% and 10% respectively year-on-year.

The gold producer in February warned its production target for the year was at risk due to continuing disruptions to its Lihir mining operations in Papua New Guinea.

The production forecast was cut in December from an August estimate of a rise in output to as much as 2.925 million ounces. Newcrest produced 2.7 million ounces in the last financial year, assuming a full year of output from Lihir Gold Ltd., which it bought for roughly A$9.5 billion (US$9.8 billion) in a deal that became effective in August 2010.

Newcrest operates eight mines in Australia, Indonesia, Ivory Coast and Papua New Guinea.

-By Robb M. Stewart, Dow Jones Newswires; +61 3 9292 2094; [email protected]

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Financials ( AUD)
Sales 2018 4 390 M
EBIT 2018 726 M
Net income 2018 402 M
Debt 2018 1 585 M
Yield 2018 1,03%
P/E ratio 2018 37,15
P/E ratio 2019 17,02
EV / Sales 2018 3,88x
EV / Sales 2019 3,05x
Capitalization 15 453 M
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Mean consensus HOLD
Number of Analysts 14
Average target price 21,9  AUD
Spread / Average Target 9,6%
EPS Revisions
Managers
NameTitle
Sandeep Biswas Chief Executive Officer, Executive Director & MD
Peter Algernon Franc Hay Independent Non-Executive Chairman
Gerard Bond CFO, Executive Director & Finance Director
Richard John Lee Independent Non-Executive Director
Philip Stanley Aiken Independent Non-Executive Director
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