Newcrest Mining: When down means up

A second production downgrade has caused the share price to fall and our interest to rise. Gaurav Sodhi explains.

For the second time this year, Newcrest Mining has downgraded production forecasts, sending the share price down 7% last week. Instead of producing 2.43-2.55 million ounces of gold for the year, it’s now aiming for 2.25-2.35m ounces.

Whether this is an opportunity or a glimpse into a far darker future depends on whether the company can fix its problems and reclaim lost production. And that won’t be easy.

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