Newcrest Mining: Final Act

About the author:

Author name:

By Sharad Bhat

Job title:

Analyst

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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