NCM – Citi rates as Buy

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Citi analysts highlight the "high takeover appeal" that is currently swirling over the Newcrest Mining share price. They believe it is far more cost-effective for one of the international majors in the sector to buy Newcrest than to try to build a similar suite of assets from scratch.

Newcrest’s assets are low-opex, long-life point out the analysts. Buy rating retained. Target $25.80.

Sector: Materials.

Target price is $25.80.Current Price is $21.01. Difference: $4.79 – (brackets indicate current price is over target). If NCM meets the Citi target it will return approximately 19% (excluding dividends, fees and charges – negative figures indicate an expected loss).

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