Earned about $1.10 a share in 2008 so if they got back to those sort of earnings they are selling on a PE of about 8 Pretty good except they are carrying 4 billion in debt even though they are big if they get into more strife the bankers could start circling
I suppose it has more to do with cost of production....what is the comparison of break even then and now?
Now! Who knows? but here is NCM annual report for 2013. http://www.newcrest.com.au/investors/reports/annual/ If you look at page 4 of the pdf, you'll be able to get an idea of production costs. Operational Performance All-in sustaining costs AUD $1283 Profit and Loss cash-flow *Statutory loss of A$5,778,000,000 (after impairment, write-down and restructure costs of A$6,229,000,000) More info of NCM's financial genius can be found here: http://www.newcrest.com.au/media/annual_reports/FINAL_AR_2013_72dpi_web.pdf
hmmmmm............13 million traded at the moment.....up from about 4 or 5 million not that long ago today.....price spiked for a rise of 40 cents as opposed to the 15 or 20 cents it was down earlier today...could it be that big buyers are starting to bottom feed...............not bad for a day in which gold was way down....
It was down close to $7 for the whole day and then suddenly shot up 10% in the last hour of trading. wtf was that all about ?
I would hope to see this more as the bottom is reached...I am still waiting for $1000 or under so at least it is heading in the right direction...... I think we may see one more false rise before the true bottom is reached....eg a drop into the low 1100's........a 6 month rally....and then capitulation.....
I have found in the past that NcM would sometimes indicate future movement..........I wonder how that happens........ie big up day for gold and NCM goes down..but that night...gold is pummeled.....and also the opposite when NCM goes up when gold has fallen only to find the next night......gold gets pummeled.........Aussie gold stocks small market and easy to manipulate......if I am correct then gold could possibly retrace all its losses from last night and put on some more....
Can't find an index makeup but if NCM is the biggest gold stock then it probably makes up a large chunk of the index so the index would just reflect whatever happens to NCM
Possible Shareholder class-action Against NCM Newcrest advises that it has now received correspondence from Slater & Gordon stating that they are instructed to commence a representative proceeding (shareholder classaction) in the Federal Court of Australia against Newcrest in relation to Newcrest's market disclosure prior to Newcrest's 7 June 2013 market release. http://www.asx.com.au/asxpdf/20131223/pdf/42lt7qpn2xmpqr.pdf
Only assuming here but usually the legal firm will only take on the class action if they believe they will be able to win(pro-bono) but once they win they will want to settle their legal fee's from any settlement figure awarded.
