Newcrest Mining (OTC:NCMGY) Is a Company that Goldman Sachs Seems to Like as Upgrade in Given

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Newcrest Mining (OTC:NCMGY) Stock Upgrade

It will be interesting to watch today’s trading of shares of Newcrest Mining (OTC:NCMGY) as Goldman Sachs boosted the stock from a Neutral to a respectable Buy.

Approximately 45,741 shares of stock traded hands or 64.48% up from the average. Newcrest Mining Limited (ADR) (OTC:NCMGY) has declined 24.14% since May 4, 2015 and is downtrending. It has underperformed by 23.06% the S&P500.

 Newcrest Mining (OTC:NCMGY) Is a Company that Goldman Sachs Seems to Like as Upgrade in Given

Newcrest Mining Limited is a gold mining company. The company has a market cap of $6.75 billion. The principal activities of the Company are exploration, mine development, mine activities and the sale of gold and gold/copper concentrate. It currently has negative earnings. The Company’s operating divisions are: Cadia Valley, Australia; Telfer, Australia; Lihir, Papua New Guinea; Gosowong, Indonesia; Hidden Valley JV , Papua New Guinea; West Africa (includes Bonikro activities and exploration and evaluation activities in Cote d’Ivoire), and Exploration and Other.

According to Zacks Investment Research, “NEWCREST MINING LIMITED is Australia’s largest gold producer and one of the world’s top ten gold mining companies by production, reserves and market capitalisation. Newcrest has a portfolio of low cost, long life operating mines, a strong pipeline of growth projects and highly prospective brown and greenfield exploration projects. The company has a substantial reserve and resource base combined with a long reserve life. Low gearing and a strong balance sheet places the company in a good position to fund major development projects and to capitalise on external growth opportunities. In addition, Newcrest is currently exploring for gold and gold-copper deposits in Australia, Indonesia, Fiji, the United States, Peru and Chile. The world class exploration team has an enviable track record of discovery as all Newcrest’s mining projects were discovered by the company.” Get a free copy of the Zacks research report on Newcrest Mining Limited (ADR) (NCMGY).

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