Newcrest Slashes by 10% Production Guidance, Shares Down

Shares of Australia's largest gold producer, Newcrest Mining Ltd. (NCM), tumbled in Sydney on Friday to a four-year low after the mining firm slashed by 10 per cent its annual production guidance output.

Shares dropped to A$20.16 at 2:42 p.m. local time, or by as much as 7.8 per cent, its lowest since November 20, 2008.

Newcrest announced on Friday it would reduce its gold production output for the 2013 financial year to 2.00 to 2.15 million ounces, owing to mining challenges.

Read More on International Business Times

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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