Newcrest Mining: Raising FY15 eps
Morgans Financial Limited
Newcrest Mining (NCM) released its June quarter production and cost results reporting group production of 674koz (up 9% on the March quarter). As expected, Lihir continued to perform well and a surge in gold production at Gosowong helped push NCM to the mid-range of its FY15 forecast… NCM was plagued with inefficiencies over much of 2014, but much of this has been mitigated in the past six months, particularly at Lihir. NCM said margins for the June quarter averaged A$554/oz, which should improve further as Cadia continues its ramp up into 1QFY16. We raise FY15 earnings per share by 10% and make incremental changes to FY16-17 to account for improved output from Lihir and Gosowing. More detail on the Morgans blog: (VIEW LINK)
Welcome to Livewire, Australia’s most trusted source of investment insights and analysis.
To continue reading this wire and get unlimited access to Livewire, join for free now and become a more informed and confident investor.
1 stock mentioned
Senior Analyst for Morgans, covering precious metals, bulks and base metals. I am a geologist with 20 years experience. I spent my early career in regional exploration in Western Australia before moving on to exploration and mining feasibility...
No areas of expertise
Please sign in to comment on this wire.