NCM, NST, EVN: 3 gold stocks which grabbed investors’ attention today

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NCM, NST, EVN: 3 gold stocks which grabbed investors’ attention today

ASX-listed gold stocks, Newcrest Mining Limited, Northern Star Resources Limited, Evolution Mining Limited, ASX200
Image source: © Anchesdd | Megapixl.com

Highlights

  • The benchmark index ASX200 was up 0.162% at 7086.600 points at 1:24 PM AEST today. 
  • The S&P/ASX All Ordinaries Gold Index (ASX:XGD) was up 0.475% at 6107.800 points at 1:08 PM AEST. 
  • Three ASX-listed gold stocks, Newcrest Mining Limited, Northern Star Resources Limited, and Evolution Mining Limited, traded higher today.    

The Australian share market opened this week’s trading positively as the benchmark index ASX200 was up 0.162% at 7086.600 points at 1:24 PM AEST.   

Eight of 11 sectors traded higher on Monday (16 May 2022), while the Industrials index, up 2.07%, was the best performing sector at one point today. The three industries which fell in the red territory included the Materials, healthcare and the Energy sector.   

Meanwhile, the S&P/ASX All Ordinaries Gold Index (ASX:XGD) was up 0.475% at 6107.800 points at 1:08 PM AEST. The rise in the price of yellow metal could be attributed to the weakened US dollar.

Gold prices declined over 1% on Friday, the lowest since 4 February. Normally, the strong dollar makes the safe-haven asset gold less attractive for investors owning other currencies.   

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In this article we will talk about three ASX-listed gold stocks that were in focus today. These three gold stocks include - Newcrest Mining Limited (ASX:NCM), Northern Star Resources Limited (ASX:NST), and Evolution Mining Limited (ASX:EVN).   

 

Newcrest Mining Limited (ASX:NCM)

The shares of Newcrest Mining Limited were spotted trading 0.935% higher at AU$24.810 per share on ASX at 2:16 PM AEST. Newcrest Mining Limited is an ASX-listed company involved in the mining, selling, and developing of gold and gold-copper concentrate. The company owns and operates a portfolio of predominantly low-cost, long-life mines along with a strong pipeline of brownfields and greenfield exploration projects. Newcrest commands a market capitalisation of AU$21.95 billion. Shares of Newcrest Mining have declined almost 12.56% in the last one year, while the stock is up 1.22% year-to-date (YTD).   

In March 2022, the gold miner completed the Pretium acquisition, adding the world-class Brucejack mine to its asset portfolio. Brucejack began commercial production in 2017 and is considered one of the highest-grade operating gold mines in the world.  

Image Source: © Danielschreurs| Megapixl.com 

Northern Star Resources Limited (ASX:NST)

Shares of Northern Star Resources Limited traded 0.937% higher on Monday at AU$8.610 per share on ASX at 2:26 PM AEST. Northern Star Resources Limited is an ASX-listed Australian gold miner with a market capitalisation of AU$9.93 billion. The company operates world-class projects in Australia and North America.   

In the last one year, the share price of Northern Star Resources has fallen 23.26%, while the stock is down 8.60% YTD. Earlier this month, the gold miner shared an update on its Mineral Resource and Ore Reserve update for the 12 months ended 31 March 2022. During this period, the company reported 56.4Moz of Mineral resources and 20.7Moz of Ore reserves, respectively.   

Evolution Mining Limited (ASX:EVN)

The shares of Evolution Mining Limited were trading 0.145% higher at AU$3.435 per share on ASX at 2:49 PM AEST today. Shares of Evolution Mining Limited have declined almost 33% in the last one year, while the stock is down 15.81% YTD. The company has a market capitalisation of AU$6.28 billion. Evolution Mining Limited is an ASX-listed gold mining company which operates gold-related mining projects in Australia and Ontario.  

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