The below mentioned mining stock have witnessed an improvement in their share prices during the intraday trade. Lets take a closer look at these stocks-
Northern Star Resources Ltd (ASX: NST)
Global-scale Australian gold producer Northern Star Resources Ltd (ASX: NST) is having a portfolio of low-cost, high-grade underground gold mines. Northern Star is the largest shareholder of Echo Resources Limited, an ASX listed gold explorer. Recently, the company noted that Echo Resources successfully raised $15 million through Two-Tranche Placement to fund its exploration strategy. In FY 2019, the company is expecting its production to be in between 850,000-900,000oz. Further, the company is expecting to produce 235,000-260,000oz in 2019 June quarter. In March quarter, the company sold around 185,296oz at an AISC of A$1,369/oz. At the end of March quarter, the company $287.7 of cash, bullion and investments.
In the past six months, the share price of Northern Star Resources declined by 4.33% as on 7th May 2019. NST’s shares traded at $8.730, up 3.929% during the day’s trade, with a market capitalization of $639.45 million as on 8 May 2019.
Newcrest Mining Limited (ASX: NCM)
World’s leading gold mining company, Newcrest Mining Limited (ASX: NCM) is having its operating assets in Cadia, Lihir, Golpu, Telfer and Gosowong. The company recently received the final report from the Independent Technical Review Board which provided a great deal of technical insight. Currently, the company is progressing its work on the repair plans for the northern tailings storage facility. It is expected that the study on the repair plan will be completed in Q2 FY20. In March 2019, the company entered into an exploration farm-in agreement with Greatland Gold plc to establish a joint venture.
In H1 FY19, the company reported a statutory profit of $237 million, up 142% as compared to the previous corresponding period (pcp). During the first half of FY19, the company produced around 1.20 million ounces of gold, up 6% on pcp.
In the past six months, the share price of Newcrest Mining Limited increased by 18.27 percent as on 7 May 2019. NCM’s shares traded at $25.00, up 0.563% during the day’s trade, with a market capitalization of around $19.1 Billion as on 8th May 2019.
Saracen Mineral Holdings Limited (ASX: SAR)
Gold mining company, Saracen Mineral Holdings Limited (ASX: SAR) recently announced the appointment of highly experienced Mr. John Richards as an independent Non-Executive Director, making a significant contribution to the Board. In its over 35 years of experience in the resources industry, Mr. John Richards has held various strategy and business development positions in mining companies and besides that he has a deep understanding of the global gold industry. The company is on track to hit its FY19 guidance. In FY19, the company is expecting its production to be in between 345-365,000oz at AISC of A$1,050 - 1,100/oz.
In the past six months, the share price of Saracen Mineral Holdings Limited increased by 10.16 percent as on 7 May 2019. SAR’s shares traded at $2.920 (+3.546% intraday) with a market capitalization of around $2.31 Billion as on 8 May 2019.
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