Gold remains in high demand due to a volatile US dollar and economic uncertainty, and as a result NCM has been one of the best stocks in the past few months.
Today, NCM reported a 63% surge in FY11 net profit to $908 million, driven mainly by surging gold prices and the production jump from its Lihir acquisition.
A final unfranked dividend of 20 cents was declared, in addition to a special unfranked dividend of 20 cents.
Underlying profit was up 36% on-year to $1.06 billion, coming in slightly ahead of analyst estimates.
NCM grew its FY11 output 43% to 2.5 million ounces of gold, and forecast FY12 production of 2.775 million – 2.925 million ounces.