NST, EVN, OZL: Three ASX gold stocks which can be looked at amid Ukraine crisis

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NST, EVN, OZL: Three ASX gold stocks which can be looked at amid Ukraine crisis

NST, EVN, OZL: Three ASX gold stocks which can be looked at amid Ukraine crisis
Image source: © Theohudayanto | Megapixl.com

Highlights

  • Gold prices have hit new highs in the past few weeks amid the ongoing Ukraine crisis.

  • Rising global tensions have spurred demand for safe-haven bullion.

  • Bullion is considered a hedge against inflation and geopolitical risks.

Gold prices hit their highest level in nearly nine months on Tuesday before pulling back as investors awaited more developments in the Ukraine crisis after the US and the European Union (EU) announced the first round of economic sanctions against Russia.

Rising global tensions have spurred demand for safe-haven bullion in the past few weeks. Bullion is considered a hedge against inflation and geopolitical risks.

In addition, global inflation concern would continue to push gold price upside as the market has already discounted the US Fed's hawkish stance on the interest rate hike.

Meanwhile, the ASX All Ordinaries Gold Index (ASX:XGD) has risen nearly 1% year-to-date (YTD). The benchmark ASX 200 is down over 5% YTD.

Here, we discuss three ASX-listed gold stocks with over 4% six-month gains. We would also look at their earnings in the first half of FY22.

Northern Star Ltd (ASX:NST)

Shares of Northern Star Resources have delivered a return of over 5% in the past six months. In the past month, the stock is up over 4%.

The Australian gold producer reported a revenue of AU$1,807 million, a 63% gain on the previous corresponding period of H1FY21. The surge in revenue was on account of sale of 62% more gold compared to the first half of FY21.

The net profit after tax (NPAT) rose 43% to AU$261 million. The company’s board also declared a record fully franked interim dividend of 10 cents per share.

Evolution Mining Ltd (ASX:EVN)

Shares of Evolution Mining have delivered a return of over 6% in the past six months. In the past month, the stock is up over 5%.

The company reported a decline of 60% in profit in the first half of FY22. Evolution Mining reported a statutory net profit after tax (NPAT) of AU$90.8 million in the given period compared to AU$228.7 million on the prior corresponding period.

Underlying profit also declined 57% to nearly AU$100 million.

The revenue fell 9% to AU$898.6 million on account of a fall in gold volumes and a 4% lower gold price.

OZ Minerals Ltd (ASX:OZL)

Shares of OZ Minerals have delivered a return of over 18% in the past six months. In the past month, the stock is down over 8%.

OZ Minerals reported a 56% rise in revenue to AU$2,095.8 million for the 12 months ended 31 December 2021. The company attributed the rise to both increased sales volumes of copper and gold and high copper prices.

Net profit after tax soared 150% to AU$530.7 million. The company’s board also announced a fully franked final dividend of 18 cents a share, bringing its full-year dividend to 34 cents per share.

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