NCM, NST, EVN, PRU: Why are these ASX-listed gold stocks up today?

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NCM, NST, EVN, PRU: Why are these ASX-listed gold stocks up today?

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 NCM, NST, EVN, PRU: Why are these ASX-listed gold stocks up today?
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Highlights

  • The S&P/ASX All Ordinaries Gold Index (ASX:XGD) was up 2.47% at 6,533.20 points at 11:08 AM AEST today.
  • Eight of 11 sectors traded higher today, while Materials was one of today's best performing sectors.
  • A rise in gold prices has probably pushed up the share price of domestic gold stocks today.

The Australian share market opened slightly higher today despite negative cues from Wall Street with the benchmark index ASX200 gaining 0.604% to climb to 7171.900 points.

Eight of 11 sectors traded higher today, where the consumer staples and materials sector led the gains. The Information technology sector was the worst performer as it was 2.468% lower at 1442.000 points at 11:03 AM AEST. 

The S&P/ASX 200 Materials (Sector) XMJ was up 1.295% at 17628.300 points during the intraday trading session today. 

Meanwhile, the S&P/ASX All Ordinaries Gold Index (ASX:XGD) was up 2.47% at 6,533.20 points at 11:08 AM AEST. A rise in gold prices has probably pushed up the share price of domestic gold stocks. Gold prices rose to their highest in two weeks as a result of the weaker US dollar and lower Treasury yields. US gold futures closed nearly 1% higher at US$1,865.40 per ounce.

Read More: ASX 200 builds up opening gains, rises 0.76%; BHP turns ex-dividend

Let’s take a look at the four ASX-listed gold stocks which have been in the news lately. The four gold companies to be discussed in this article include - Newcrest Mining Limited (ASX:NCM), Northern Star Resources Limited (ASX:NST), Evolution Mining Limited (ASX:EVN), and Perseus Mining Limited (ASX:PRU). 

Newcrest Mining Limited (ASX:NCM)

The shares of Newcrest Mining Limited traded 1.637% higher at AU$25.450 per share on ASX at 11:32 AM AEST today. Newcrest Mining Limited is an ASX-listed company and it billed as one of the world's largest gold mining companies. Newcrest has a market capitalisation of AU$22.36 billion. The company owns and operates a strong pipeline of brownfields and greenfield exploration projects. Newcrest's operating mines are located in Australia, Canada and Papua New Guinea.

In the last one year, the shares of Newcrest Mining Limited have fallen 10.39%, while the stock is up 3.92% year-to-date (YTD). 

This week, Newcrest Operations Pty Ltd, a subsidiary of Newcrest Mining Limited, announced its decision to assume management of the farm-in agreement on the Wilki Project in the Paterson Province of Western Australia (WA). 

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Northern Star Resources Limited (ASX:NST)

The shares of Northern Star Resources Limited were spotted trading 3.205% higher at AU$9.175 per share on ASX at 12:02 PM AEST. The company has a market capitalisation of AU$10.35 billion. In the last one year, the share price of Northern Star Resources Limited has fallen 18.88%, while the stock is down 2.60% YTD. Northern Star Resources Limited is an ASX-listed gold producer with world-class projects located in highly prospective regions of Australia and North America.

Evolution Mining Limited (ASX:EVN)

Evolution Mining Limited shares jumped 4.607% today as the company's shares traded AU$3.860 per piece on ASX at 12:02 PM AEST. The ASX-listed gold mining company has a market capitalisation of AU$6.76 billion. Evolution Mining Limited has projects across Australia and in Ontario (Canada). In the last 12-months, the share price of Evolution Mining Limited has fallen 26.29%, while the stock is down 5.51% YTD.

Perseus Mining Limited (ASX:PRU)

The share price of Perseus Mining Limited traded 4.800% higher at AU$1.965 per share on ASX at 12:27 PM AEST today. 

In the last one year, the share price of Perseus Mining Limited has gained 42.39%, while the stock is up 19.09% YTD. Perseus Mining Limited is an ASX-listed gold producer with a market capitalisation of AU$2.54 billion. Currently, the company operates three gold mines in Africa.

Perseus is on track to achieve our goal of becoming a 500,000oz per year gold producer by 2022.

Read More: Sayona Mining (ASX:SYA) share price in a trading halt, here's why

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