ncm should be $50 today, page-5

Poor share price performance not solely confined to Newcrest. Major Gold stocks such as Barrick Gold and Newmont were trading at higher prices 3 years ago when gold price was at levels of less than $1000. Go figure!

Surely gold stocks will have to play catch up with gold price and eventually outperform gold price given their unhedged leverage to gold. Any increase in gold goes straight to the bottom line as Net Profit.