Newcrest Mining: Final Act

About the author:

Sharad Bhat
Author name:
By Sharad Bhat
Job title:
Date posted:
14 August 2023, 8:00 AM
Sectors Covered:
Junior Resources

  • A mixed FY23 result, with Newcrest Mining (ASX:NCM) management focused on scheme meeting (Oct-23) and NCM-Newmont transaction (Nov 23).
  • NCM’s FY23 NPAT of US$778M (-11% on pcp) and FCF of US$404M surpassed consensus estimates.
  • NCM declared a final dividend of US 20 cents per share, bringing the total FY23 dividend to US 55 cents per share.
  • We view NCM-Newmont transaction as likely to go ahead and don’t see further upside from here, so retain a Hold rating.

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