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Canadian Listing Likely for Newcrest Mining

By Joel ScanlonJan 27 2011

Newcrest Mining is likely to get a boost in its stock value with a secondary listing on the Toronto Stock Exchange as per JP Morgan. Lihir Gold was delisted from the Toronto Stock Exchange when it was taken over by Newcrest Mining last year.

JP Morgan analyst Fraser Jamieson said that the company had flagged a northern hemisphere listing late last year. A possible listing in Canada could provide a catalyst for a re-rating given the company’s attractive growth profile over the next few years.

Jamieson said that the total output should increase by 85% between financial year 2009-10 to 2014-15 which is materially better than most of the peer group. Credit Suisse analyst Michael Slifirski also felt that the Newcrest's exploration story can continue to drive production and earnings upgrades for 10 years.

Despite reduced production at the Cadia mines in New South Wales and at Bonikro in Ivory Coast Jamieson said that he was boosting his 2010-11 earnings forecast for Newcrest Mining by 2% to $1.23 billion. Most analysts agree with his assessment.

Written by

Joel Scanlon

Joel relocated to Australia in 1995 from the United Kingdom and spent five years working in the mining industry as an exploration geotechnician. His role involved utilizing GIS mapping and CAD software. Upon transitioning to the North Coast of NSW, Australia, Joel embarked on a career as a graphic designer at a well-known consultancy firm. Subsequently, he established a successful web services business catering to companies across the eastern seaboard of Australia. It was during this time that he conceived and launched News-Medical.Net. Joel has been an integral part of AZoNetwork since its inception in 2000. Joel possesses a keen interest in exploring the boundaries of technology, comprehending its potential impact on society, and actively engaging with AI-driven solutions and advancements.

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