How are these gold stocks performing on ASX?

Highlights:

• Australian stock market benchmark index, ASX 200 closed in red today (28 September 2022).
• Following the ASX 200, nine out of eleven significant sectors ended in red.
• With a rise of 1.90%, the utilities sector was the best performing sector.

Australian stock market, S&P/ASX 200 lost 34.20 points today to close at 6,462.00 points, setting a new 50-day low. In a month, the index has dropped 7.23% and 10.21% in a year.

Nine out of eleven significant sectors ended lower along with the broader market. The utilities sector was the best performing sector as it recorded a surge of 1.90% and information technology was the worst performing sector as it registered a fall of 1.61%.

This article focuses on the performance of ASX-listed gold stocks amid falling gold prices.

The price of gold has fallen till US$1,620 ounces. Gold has headed towards the lowest levels in two and a half years. According to a media source, the gold price is weighed down by hawkish remarks from many US Federal Reserve officials and the resurgent dollar. Fed policymakers have given the indication that the central bank is determined to take necessary steps to bring inflation down, even if it leads to market volatility or creates a risk of recession.

In this article, we at Kalkine Media® are discussing the performance of Newcrest Mining Limited, Northern Star Resources Ltd, Evolution Mining Limited, Perseus Mining Limited and De Grey Mining Limited.

Newcrest Mining Limited (ASX:NCM)

Newcrest claims that it is the largest gold producer which is listed on ASX and is one of the largest gold mining companies globally. As per the company’s official website, the company is recognised for its deep underground block caving, technical capabilities in exploration and metallurgical processing skills.

Newcrest’s headquarter is located in Melbourne and operates mines in Papua New Guinea, Australia and Canada.

Newcrest shares closed 0.25% up at AU$16.07 apiece. With this, in the last five trading sessions, share price has recorded a drop of 3.89% and a drop of nearly 7.59% in a month. On a year-to-date basis, the share price has tumbled 34.38% and registered a loss of 40.19% in the last six months. In the last one year, it has marked a fall of 28.99%, and in five years, it has dropped 23.55%.

Recently, the company announced a dividend of AU$0.291 and the tentative payment date is 29 September 2022.

Northern Star Resources Ltd (ASX:NST)

Global-scale gold producer, Northern Star have projects in North America and Australia. Three world-class production centres of the company are Pogo, Yandal and Kalgoorlie.

With the aim to extend the mine lives, the company continues to invest in developing its asset base via aggressive exploration and strategic acquisition (as per company’s official website).

Image source: © Mashe | Megapixl.com

Northern Star shares closed at AU$7.17 apiece, 0.84% higher. The share price has dropped 4.53% in the last five trading sessions. In a month, it has fallen 3.89%, and in six months, it has marked a fall of 33.55%. In the last 52-weeks, the share price has declined 15.65%. In the previous five years, it has gained 45.14%.

Northern Star claims that it has an enviable track record of distributing fully franked dividends. Recently, the company announced a dividend of AU$0.115 per share, with a tentative payment date of 29 September 2022.

Evolution Mining Limited (ASX:EVN)

Evolution Mining says that it has evolved from a small company into gold mining business. With a portfolio of around 8 assets in Tier 1 jurisdictions, the company operates five wholly-owned mines – Mungari in Western Australia, Cowal in New South Wales, Red Lake in Ontario and Mt Rawdon and Ernest Henry in Queensland.

Evolution Mining shares ended today’s session at AU$1.89 apiece, 1.89% higher from its previous close (AU$1.86 apiece). With this, in the last five trading sessions, the share price has dropped 6.90%. In a month, the shares have marked a fall of 20.25%. On a year-to-date basis, the share price has declined by nearly 54% and recorded a fall of 57.14% in the last six months.

Recently, the company announced a dividend of AU$0.030 per share, which is expected to be paid on 30 September 2022.

Perseus Mining Limited (ASX:PRU)

Founded in 2004, Perseus is a growing African gold producer, explorer and developer. Currently, the company operates three gold mines, Edikan in Ghana, Yaouré and Sissingue in Côte d’Ivoire. The company recently acquired Orca Gold and has 70% ownership of the Block 14 Development project in Sudan. Also, the company owns a 31.4% stake in the Kone Gold project, located in Cote d’Ivoire.

Image source: © Tepic | Megapixl.com

According to the company’s website, the company is on track to achieve 500,000oz per year of gold production by 2022.

Perseus shares closed 1.79% up at AU$1.42 apiece. In one month, the share price has declined 7.79%, and in six months, it has dropped 27.18%. On a year-to-date basis, the shares have registered a fall of 13.94%. In a year, the share price has surged by 1.43%.

Perseus’s share price has zoomed by an eye-popping 317.65% in the past five years.

Recently, the company declared a distribution of AU$0.016 per share. The tentative payment date is 12 October 2022.

De Grey Mining Limited (ASX:DEG)

De Grey Mining is a gold explorer company based in West Australia. The company’s activities are 100% focused on is Mallina Gold project, situated in the Pilbara region of WA. As per the company’s announcement, the company has made high value, large scale, near surface discovery in an area - Hemi.

The company informed through its website that the project is located within an hour’s drive from the regional centres of Port Hedland and Karratha.

The share price of De Grey closed at AU$0.98 apiece, up 2.63%. The share price has dropped 3.94% in the last five trading sessions. In a month, it has surged by 7.14%. On a year-to-date basis, the share price has fallen 18.75% and recorded a fall of 16.67% in the past six months. In one year, the share price grew 4.84%, and in five years, it has zoomed up 387.50%.