Needle on 3 Stocks – NCW, WPL, EVN

  • Apr 05, 2019 AEDT
  • Team Kalkine
Needle on 3 Stocks – NCW, WPL, EVN

Newcrest Mining Limited (ASX: NCM)

Encounter-NCM Joint Venture: Newcrest Mining Limited (ASX: NCM) in its announcement declared that the exploration programs for the Encounter-NCM JV in the Tanami and West Arunta Province will be funded by NCM in 2019. The exploration programs are expected to start after completing the heritage surveys for the respective years. Encounter-NCM currently operates in five JVs, covering 5,900 km of the Tanami and West Arunta Provinces in Western Australia (“WA”), whereas the Selby, Watts and Lewis JV covers 100 km of Trans-Tanami Structure corridor.

Apart from that, NCM came up with extensive exploration plans, which comprises over 14,000 metres of RC and diamond drilling in the first phase of the program.

Encounter management also informed that the company is looking forward to gold discovery in Australia. Major exploration projects are planned across the Tanami and the West Arunta as per the 2019 targets.

NCM in the month of March 2019, announced that the company has entered into a JV (an exploration farm-in agreement) with Greatland Gold Plc on their Havieron tenement that has good chances of delivering high-grade ore feed to Telfer.

NCM has acquired 70% of the Red Chris mine from Imperial Metals for a cash amount of US$806.5 million. This development will provide NCM to enter into North America and operate mine with the potential to become a Tier 1 asset.

At CMP of $24.630 on 5th April 2019, the stock is trading at PE multiple of 39.08x with an annual dividend yield at 1.04%. The stock has performed well and gave returns of 24.75% and 26.93% on one-year and six months basis, respectively.

Woodside Petroleum Limited (ASX: WPL)

Woodside Petroleum Limited (ASX: WPL) has developed its business strategy into three horizons with – (1) Horizon I – to achieve the targeted production of approximately 100 MMboe in 2020 with new revenue streams to start production in 2019 and expand the LNG markets. (2) Horizon II – to start new productions leveraging its existing infrastructure, which will drive earnings growth for the future. (3) Horizon III – focus on production in Sunrise and Liard and Horn River basin.

The stock has performed well with a one-year return of 15.11%, whereas six months return has been negative at 12.49%. At CMP of $34.10 on 5 April 2019, the stock is trading at PE multiple of 16.27x with an annual dividend yield of 5.86%.

Evolution Mining Limited (ASX: EVN)

SRG-EVN Contract: Evolution Mining Limited (ASX: EVN) is engaged in the business of gold mining and operates five wholly-owned mines in Queensland, New South Wales and Western Australia. EVN is the second largest gold producer listed on ASX.

SRG Global has formed a contract with EVN, which is an initial three-year term contract with an option to extend it further for two years. With the agreement, SRG will provide its drill and blast services at Mt Rawdon, Cowal and Mt Carlton operations to EVN. The development is likely to produce revenues of $115 million over five years (if the two-year option is exercised). Otherwise, $78 million is expected over a period of three years. On 1st April 2019, EVN communicated that it has entered into an earn-in JV with Enterprise Metals Limited (ASX: ENT) for Murchison (a large gold exploration project).

At CMP of $3.620 on 5th April 2019, the stock is trading at PE multiple of 26.08x with an annual yield of 2.1%. The stock has outperformed on ASX and gained a return of 33.21% in the past six months. On a one-year basis, the stock has given a return of 14.42%.


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