Australian Stock Report - Share Tips
Best Stocks News: Newcrest Mining (NCM)
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Publish date: Mon, 15 Aug 2011, 03:29 PM
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Our stock analysis blog provides information on stocks to watch and helps you figure out which are the best stock to buy. We use fundamental and technical analysis to identify the stocks tips that will supercharge your portfolio. We don't believe in choosing stock tips on rumours or hearsay. Our share tips use fundamental analysis, like price-to-equity ratios, cash flow analysis and net tangible assets, to identify the best share trading opportunities. We then use technical analysis, which is the study of price charts, to determine the best level to buy shares. We believe using the two school of investment analysis allows us the increase the chances of our share tips being successful.
Newcrest Mining (ASX:NCM) is the biggest Australian gold producer on the share market, with mining and exploration projects in Australia, Papua New Guinea (PNG), Indonesia and the US.
Gold remains in high demand due to a volatile US dollar and economic uncertainty, and as a result NCM has been one of the best stocks in the past few months.
Today, NCM reported a 63% surge in FY11 net profit to $908 million, driven mainly by surging gold prices and the production jump from its Lihir acquisition.
A final unfranked dividend of 20 cents was declared, in addition to a special unfranked dividend of 20 cents.
Underlying profit was up 36% on-year to $1.06 billion, coming in slightly ahead of analyst estimates.
NCM grew its FY11 output 43% to 2.5 million ounces of gold, and forecast FY12 production of 2.775 million - 2.925 million ounces.
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