How are these three ASX gold shares faring today?

Highlights: 

• Gold is expensive because it is a relatively scarce resource, due to its physical properties, such as colour, lustre, and density, and because of its value throughout history as a medium of exchange.
• Australia is the second largest producer of gold in the world and many companies are engaged in extracting the metal from the rich deposits found in the country. 

Gold is a precious metal that is found in very small amounts in the earth. This metal is also one of the most stable metals and does not react with anything as such. As a result, gold hardly corrodes or tarnishes and that’s the reason why gold is an expensive metal.

Australia is a rich source of gold. The country has a well-established gold mining industry with several big gold mines, such as the Cadia Mine in New South Wales, Fosterville Gold Mine in Victoria, and the Tanami Mines in the Northern Territory. 

In this article, we discuss three ASX-listed gold stocks and their performance on the ASX today: Newcrest Mining Limited (ASX:NCM), Gold Road Resources Limited (ASX:GOR), and Regis Resources Limited (ASX:RRL). 

Newcrest Mining Limited (ASX:NCM)

Shares of Newcrest Mining Limited began trading on a positive note on the ASX on Tuesday (November 8)The company’s share price gained  0.110% to AU$18.150 per share, at 10:42 AM AEDT today. 

Newcrest is a Melbourne-based mining company primarily engaged in the exploration, mining, development, and selling of gold. Newcrest currently has a market capitalisation of AU$16.20 billion. 

Today Newcrest has announced that it is currently progressing with the Stage 8 West Done cutback at its Telfer operation. With regard to the same, the board of the company has approved a total investment of AU$214 million, which includes a mine operating cost of AU$73 million of capitalised production stripping. Newcrest also said that this cutback represents the continuity of operations at the Telfer Mine, which is expected to continue until FY25. 

Sandeep Biswas, Managing Director and Chief Executive Officer of Newcrest, said:

Meanwhile, in the last 12 months, Newcrest’s share price has declined by  almost 28% on the ASX and on a year-to-date (YTD) basis, the company’s share price has declined by almost 26% (as of 10:42 AM AEDT today).

Gold Road Resources Limited (ASX:GOR) 

Image source: © Bendicks | Megapixl.com

Shares of Gold Road Resources Limited began Tuesday’s trading session in the green territory on the ASX. The company’s share price marked a gain of 0.711% to AU$1.415 per share at 10:51 AM AEDT today (November 8).

Gold Road is a Western Australia-based gold and mineral exploration company. Gold Road currently holds a market capitalisation of AU$1.51 billion.

On 27 October 2022, Gold Road released its quarterly production update for the period that ended on 30 September 2022. In the update, the company mentioned that its production from the Gruyere Gold Mine was aligned with its expectations during the quarter.

Some key highlights of Gold Road’s September quarter report: 

• Gold Road’s Gruyere mine reported a total production of 83,635 ounces (100% basis) of gold for the September quarter at an all-in-sustaining cost (AISC) of AU$1,426 per attributable ounce to Gold Road.
• For the same quarter, Gold Road’s gold sales summed up to 39,525 ounces at an average price of AU$2,380 per ounce inclusive of 9,500 ounces of delivery at an average price of AU$1,899 per ounce into forward sales contracts.
• Gold Road reported AU$51.4 million of attributable operating cash flow from Gruyere for the September quarter.
• The company also paid a fully franked dividend of 1.00 Australian cent per share to its eligible shareholders, followed by a strong half-year result, said Gold Road.

Meanwhile, the share price of Gold Road has declined slightly, by 1.05%, on the ASX in the last 12 months and on a YTD basis, the company’s share price has dropped by almost 10% (as of 11:03 AM AEDT today).

Regis Resources Limited (ASX:RRL) 

Image source: © Bashta | Megapixl.com 

Shares of Regis Resources Limited shares were spotted trading in the red territory on the ASX on Tuesday morning. The share price of the company declined by 0.791% to AU$1.567 per share at 11:12 AM AEDT today.

Regis Resources is an ASX-listed gold and mineral exploration company with a market capitalisation of AU$1.19 billion. Regis’ headquarters are in Western Australia.

On 27 October 2022, Regis Resources released its quarterly activity report for the period that ended on 30 September 2022. The following are the key points from its September quarter update:

• Regis’ gold production during the September quarter was 114.8 koz at an AISC of AU$1,782/oz.
• The company’s total gold sales in the same quarter were 106.1 koz, worth AU$243 million at an average realised price of AU$2,294/oz.  
• Regis Resources generated operating cash of AU$76 million in the given period.
• At the end of 30 September 2022, the company reported cash and bullion of AU$157 million.
• The board of Regis also paid a fully franked final dividend of 2 Australian cents per share to its eligible shareholders in October 2022.

The share price of Regis has declined by 21.50% on the ASX in the last 12 months, and on a YTD basis, the company’s share price has declined by 17.37% (as of 11:18 AM AEDT today).

Meanwhile, the S&P/ASX 200 Materials sector (INDEXASX:XMJ) was quoted at 16,157.1 points, down by 0.235% or 38.1 points, at 11:40 AM AEDT today (8 November 2022).