Newcrest Mining (NCM)

Personally I think there is still some potential for a rally. Saw a sell-off around 14.20 where there was resistance from previous support, but there is still a strong trend in place with the current down move holding above the previous swing high at 12.83. Have also seen volume drying up as the price moves down. Also, the three lower highs from the low at 9.06 indicates that this could be a strong move.

10628_ncm_au.gif
 
I am quoting an astute iconoclast from over at HC - one 'Sharpshooter' OBE (Order of the Bucket of Excrement). We need more of these fine folk

In response to a viewer's question regarding NCM:

"what are everyone elses thoughts?"

Sharpshooter's response:

"The worst stock in the ASX top 20. It's always been over-priced and it will likely to continue. It's just a measure of how much.

The gold price drops 4% and they write down $6 billion lol.

NCM are pretenders like most gold stocks.

Pretend, pretend, write down, pretend, pretend, write down....."

Newbies beware of ALL gold stocks and their low-life managers.
 
Newcrest Mining Ltd. (NCM) named Sandeep Biswas as chief executive officer (CEO)

Biswas, will replace Greg Robinson in the second half of 2014.

Don Mercer, chairman will be succeeded in December 2013 by Peter Hay.

http://www.asx.com.au/asxpdf/20131009/pdf/42jxfg88t5cswm.pdf

Newcrest, the worst performer this year of Australia's 50 biggest publicly traded companies, has lost more than A$20 billion in market value since Robinson became CEO in July 2011.

http://www.bloomberg.com/news/2013-...eo-chairman-after-writedowns-and-inquiry.html
 
Another Loss

Newcrest Mining has conceded defeat over several disputed tax issues and agreed to pay $120 million to resolve the issues.

Newcrest today said the ultimate impact of that $120 million would be closer to $70 million after other tax losses were taken into account.

Meanwhile Newcrest has also secured an extra $US450 million in debt which will mature gradually between 2015 and 2018. :rolleyes:

Newcrest is already carrying more debt than the company would like, with a gearing ratio at almost 30 per cent

Chief executive Greg Robinson, who will stand down in the second half of 2014 :cool: :D

http://www.smh.com.au/business/mini...des-defeat-in-tax-dispute-20131017-2vnqf.html

More info and announcements:
http://www.asx.com.au/asx/research/companyInfo.do?by=asxCode&asxCode=NCM


Newcrest "what" a Board :rolleyes:

Directors / Senior Management

Mr Don Mercer (Chairman)
Mr Greg Robinson (Managing Director, CEO, Executive Director)
Mr Gerard Bond (Executive Director, Finance Director, CFO)
Mr Phil Aiken (Non Exec. Director)
Mr Vince Gauci (Non Exec. Director)
Mr Peter Hay (Non Exec. Director)
Lady Winifred Kamit (Non Exec. Director)
Mr Richard Knight (Non Exec. Director)
Mr Richard Lee (Non Exec. Director)
Mr Timothy Poole (Non Exec. Director)
Mr John Spark (Non Exec. Director)
Mr Steve Warner (Investor Relations)



http://www.asx.com.au/asxpdf/20131017/pdf/42k2pwxgq09pvt.pdf
 
Ive been out for a while, whether the fundamentals support it or not (and i think they do somewhat)
Newcrest will be lifted up with any gold rise, fall with any gold decline - and respond to the tech signals of the XGD.

It will probably move slower than the midcaps, but ive seen NCM move very fast when big money wants to get in and out. Its still the largest gold miner in Aus with significant copper credits.

Although with the midcaps paying divs of (some) 5% - i suspect that will be 'the place to be' stockwise when/if gold resumes its upward trend, which means Newcrest has to do alot more to hold onto their investors as the younger hungrier companies present a more attractive growth (w/ income) prospect.
 
Sorry.....I thought I might apply the defribrillator to this post and bring it back to life for a while.....

Below 10 bucks on the close.....how low can she go?......
 
Gold miner Newcrest says it will start slashing jobs at its Telfer gold mine from next week in a bid to cut costs.

The miner flagged the cuts in July, saying the low gold price along with high operating costs was squeezing its margins.

The company employs 1200 people at the east Pilbara mine site, which includes its own workforce as well as contractors.

Newcrest is refusing to confirm how many jobs will be cut, saying it will inform workers first.

It says the cuts will be across its open pit operation, as it aims to scale back production
Click to expand...

http://www.abc.net.au/news/2013-11-22/newcrest-cuts-jobs/5110782
 
The last time it was $8.50 was 10 years ago........if the push down to the $1000 gold mark could see it at its next resistance.....$5.00
It is hard to imagine.....another $250 drop in gold could blow small miners out of the water. Newcrest is big enough I would hope to survive a year under production costs.
It is so tempting to get in now but if the drop eventuates, it could mean a 40% fall in price from today.........
The price has dropped nearly 40% since the start of September....it is rapidly approaching the .."everybody has been burnt by this baby" status
 
tolly_67 said:
It is so tempting to get in now but if the drop eventuates, it could mean a 40% fall in price from today.........
Click to expand...

imo this is stock should not be risked until there is a strong argument to be made for a bottom formed. Whatever your criteria for that judgement you should wait for them to be met and not jump the gun. Sacrifice something from the low and do not try to pick the bottom, and as for the 'fundamentals' forget them. Did any of the professional analysts predict the relentless problems and production decay that now warrant a sub $9 price? Added to which is the unknown of the gold price. What chance have you got? If there is any argument to be made that this stock is showing actionable signs of a bottom I'd just love to hear it.

So the Decade monthly chart shows an outr (French) month of June, then a weak rally that did not put the price within Palomar Observatory sight of the volatility mid-line, then decisively negative candles of which the negative September month was generated from the highest volume ever in the history of the stock. So heaps of holders just used the weak rally of July/August to bail out. Now so far in November we see the candle is below the extreme outr month of June. What is there to buy yet? - its still deepening its crater.

1893_ncm_nov_2013.gif
 
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