Newcrest Mining: Raising FY15 eps

James Wilson

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)

1 stock mentioned

James Wilson
James Wilson
Morgans Financial Limited

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

I would like to

Only to be used for sending genuine email enquiries to the Contributor. Livewire Markets Pty Ltd reserves its right to take any legal or other appropriate action in relation to misuse of this service.

Personal Information Collection Statement
Your personal information will be passed to the Contributor and/or its authorised service provider to assist the Contributor to contact you about your investment enquiry. They are required not to use your information for any other purpose. Our privacy policy explains how we store personal information and how you may access, correct or complain about the handling of personal information.


Please sign in to comment on this wire.