NCMGY - Newcrest Mining: On Track To Meet FY2021 Guidance
- Newcrest Mining released its calendar year Q1 2021 results last week, reporting a slight decrease in gold production year-over-year to ~512,400 ounces.
- However, after adjusting for its Gosowong divestment in calendar year Q1 2020, gold production was actually up in the period.
- Based on the higher gold price in the period and stronger copper prices, the company enjoyed much higher margins, with all-in sustaining cost margins coming at $860/oz.
- Given Newcrest's massive reserve base and solid cost profile, I would view any dips below US$18.50 as low-risk buying opportunities.
For further details see:
Newcrest Mining: On Track To Meet FY2021 Guidance