Good listen - thanks.
Looks like GS are $52 down to $48 with growth seen from 2013 - anyway $48 is still 20% from current levels. Morningstar have suggested using current spot prices they estimate earnings of $1.65b in 2012 and $1.91b in 2013 and could increase valuation to $66.70 a share. So is this really a downgrade?
Again I would recommend using the downdraft caused from wishy washy analysts mumbo jumbo to add to positions. Which is no doubt what clients of said analysts are just doing - using the weakness to accumulate at discounted price.
Relative to a $1700aud gold price let alone a $1380 aud gold price NCM remains significantly undervalued.
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ncm ... good listen, page-2
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