This stock no longer trades (delisted October 26, 2023)

Delisted / no longer publicly traded (per market data provider) Everything below is based on the last available data — treat it as historical, not a live read.

Newcrest Mining Limited

NCM.AX

Gold · Basic Materials

Price

A$23.35

-0.30 (-1.27%)

Market Cap

A$20.88B

Exchange

Australian Securities Exchange

Winston Score

Historical score — this stock no longer trades, so the score is frozen at the last available data.

Data as of Aug 23, 2026 · filings through Jun 30, 2023

How the score breaks down

Quality

Good

Growth

Mixed

Cash Flow

Strong

Stability

Exceptional

Valuation

Mixed

Dividends

Mixed

Share count rising — dilution

+9.8% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 770.6M (2019) → 845.8M (2023)

Winston Score History

The full picture

Newcrest Mining is one of the largest gold mining companies in the world. It digs gold and copper out of the ground at large mines and sells those metals to refiners, banks, and industrial buyers. The company is headquartered in Australia and operates some of the biggest gold mines in the Asia-Pacific region, including the Lihir mine in Papua New Guinea and Cadia in New South Wales.

Newcrest makes money by selling gold and copper at market prices, so its revenue rises and falls with commodity prices. It operates primarily in Australia, Papua New Guinea, and Canada, and its large, long-life mines give it a cost advantage over smaller producers. The company was acquired by Newmont Corporation in late 2023, making it part of the world's largest gold mining group, which changes its standalone competitive position but also gives it access to greater resources and operational scale.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-0.7% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-14.6% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$0/ year

0.0% of revenue

Below sector average (3%)

Research and development spending

Insider Activity

6.2%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

$1.5B cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Revenue declining

Newcrest Mining Limited's revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

30.9%

Modest — 30.9% gross margin

Profit after running costs

Operating Margin

24.9%

Excellent — 24.9% operating margin

Return on the money invested

ROCE

17.0%

Strong — 17.0% return on capital

ROIC between 15% and 25%. Every dollar invested in the business earns 15 to 25 cents back per year.

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Growth

Sales growth

Sales YoY

+16.4%

Fast-growing sales (+16.4% YoY)

Profit growth

EPS YoY

-7.7%

Earnings shrinking (-7.7% YoY)

Slight earnings drop. Typical near a cyclical low.

How steady the profit is

EPS Consistency

1/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash

Cash Conversion

206%

Turns 206% of profit into real cash

Spare cash per sale

FCF Margin

6.4%

Modest free cash flow (6.4%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

What it owes vs what it owns

Debt / Equity

0.17

Conservative — low debt load (0.17)

Covers its interest

Interest Cover

100.00x

—

Comfortably covers interest (100.0x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

Price vs profit

P/E Ratio (TTM)

17.8x

Fair value — P/E 17.8

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Dividend

Dividend Yield

2.61%

Moderate income — 2.61% yield

Standard yield zone for stable dividend payers. A meaningful piece of total return.

Dividend record

Dividend Growth

-9.0%

Dividend cut (-9.0% YoY) — warning sign

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