Shares of Newcrest are trading lower in early trade as the company went ex-dividend today.
Shareholders will be paid a 9.5 cent dividend, fully-franked, which we expect to increase over the next 6-month period.
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The share price has found good buying support in the $22.00 area in recent sessions and we consider the $21.80 to $22.00 levels a reasonable buy zone.
In addition, we have noticed a “higher low” pattern in Evolution Mining (EVN). Our ALGO engine has not yet triggered a buy signal and we will update when that happens.
With a positive base case for spot gold moving higher, we would look for the domestic gold mining sector to improve into year end.
Newcrest Mining
Evolution Mining
