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Evolution Mining (ASX:EVN) has an average rating of overweight and mean price target of AU$14.41, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)
Shares of both Newmont (ASX:NEM) and Evolution Mining (ASX:EVN) dropped over 3% in recent trading on Wednesday as the price of gold fell to $4,225 per ounce.
Major gold mining stocks declined in recent Thursday trade as the price of the precious metal fell to a two-month low.Newmont (ASX:NEM) shed more than 6%, while Evolution Mining (ASX:EVN) and Northern Star Resources (ASX:NST) both tumbled past 5%.The spot gold price was down 1.6% to $4,383.35 per ounce, while Comex gold futures retreated around 1.5%.
Major gold mining stocks fell in recent Tuesday trade after the price of the precious metal declined amid US strikes in the Strait of Hormuz that cast doubt on the outcome of Middle East peace talks.Newmont (ASX:NEM) shed nearly 3%, while Northern Star Resources (ASX:NST) and Evolution Mining (ASX:EVN) both fell nearly 2%.Spot gold prices were down 0.8% on worries that the US strikes could jeopardize peace negotiations, Bloomberg reported. US forces targeted missile launch sites in Iran as well as boats that were attempting to lay mines in the Strait of Hormuz, the report said, citing a US Central Command statement.
Australian gold mining stocks jumped in recent Monday trade as the price of the precious metal ticked higher.Northern Star Resources (ASX:NST) and Newmont (ASX:NEM) both advanced nearly 5%, while Evolution Mining (ASX:EVN) gained more than 4%.Comex gold futures were up nearly 1%, and spot gold prices rose past 1%.
Copper is benefiting from long-term structural demand drivers, including demand for electric vehicles, electric grid build-out, data center expansion, and constrained new supply, and UBS lifted its price forecasts for 2026, 2027, and 2028 by 13%, 4%, and 3%, respectively, the Australian Financial Review reported on Friday.UBS lifted its long-term copper price assumption to $5.50 per pound, in real terms, with higher prices required to incentivize new supply. Analyst Levi Spry said industry conditions are worsening on the supply side.It upgraded Evolution Mining (ASX:EVN) to a buy recommendation and Sandfire Resources (ASX:SFR) to a neutral recommendation.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
Here are the ASX-listed companies with the biggest gains on Friday.Alcoa Corp (ASX:AAI): +4%, AU$93.22South32 (ASX:S32): +4%, AU$4.29Capstone Copper (ASX:CSC): +3%, AU$13.81James Hardie Industries (ASX:JHX): +3%, AU$28.97Evolution Mining (ASX:EVN): +3%, AU$12.18Rio Tinto (ASX:RIO): +2%, AU$186.03NEXTDC (ASX:NXT): +2%, AU$14.91SGH (ASX:SGH): +2%, AU$41.81Lynas Rare Earths (ASX:LYC): +2%, AU$18.92Pilbara Minerals (ASX:PLS): +2%, AU$6.28
Australian gold producers generated record free cash flows in the March quarter despite higher capital spending on growth projects, Euroz Hartleys said in a note on Wednesday.Cash flows were helped by higher prices, with gold averaging roughly at AU$6,998 per ounce, even as production remained largely flat.According to the investment firm, around 21 companies collectively generated free cash flow of about AU$2.7 billion, up from AU$1.53 billion in the December quarter."We believe it is important to keep one eye on the real total costs of production, otherwise you risk buying a producer with more leverage than you bargained for," analysts at the brokerage said.The firm added that concerns related to diesel supply are largely a pricing issue rather than a shortage and are already reflected in valuations.Euroz Hartleys said West African Resources (ASX:WAF) was the cheapest gold stock on a cashflow yield basis, while Greatland Resources (ASX:GGP) was the lowest-cost producer.
Evolution Mining's (ASX:EVN) group mineral resources reached an estimated 31 million ounces of gold and 4.2 million tonnes of copper net of depletion, with contained gold increasing by 900,000 ounces or 3% year-on-year, driven by continued growth at Cowal of 1.2 million ounces and Northparkes open pits of 170,000 ounces, according to a Friday Australian bourse filing.The company said group ore reserves stand at 12 million ounces of gold and 1.3 million tonnes of copper net of depletion, with contained gold increasing by 500,000 ounces or 5%, underpinned by reserve additions at Cowal of 670,000 ounces and Red Lake Tailings of 200,000 ounces.Mining depletion at Ernest Henry and updates at Marsden contributed to a decline in copper mineral resources of 200,000 tonnes or 4%, while mining depletion at Ernest Henry and Northparkes contributed to a decrease in copper ore reserves of 100,000 tonnes or 4%, the filing added.The Northparkes expansion study, expected to be completed by the end of fiscal year 2027, is expected to deliver further growth to group mineral resources and ore reserves as studies are completed and execution work progresses, the company added.The company's shares rose 1% in recent Friday trade.
Here are the 10 ASX-listed companies with the biggest gains on Monday.Elevra Lithium (ASX:ELV): +7%, AU$12.92Newmont (ASX:NEM): +6%, AU$166.42IGO (ASX:IGO): +5%, AU$7.39Pilbara Minearls (ASX:PLS): +3%, AU$5.99Breville Group (ASX:BRG): +2%, AU$31.53Evolution Mining (ASX:EVN): +2%, AU$13.08Greatland Resources (ASX:GGP): +2%, AU$14.23Life360 (ASX:360): +1%, AU$21.23Sandfire Resources (ASX:SFR): +1%, AU$17.34Mineral Resources (ASX:MIN): +1%, AU$60.24
Newmont's (ASX:NEM) shares soared over 6% in recent trading on Monday, while those of Evolution Mining (ASX:EVN) gained over 1%, as gold prices recovered losses.Spot gold recovered to $4,707.75 per ounce, after falling 0.8% earlier in the session. The precious metal declined 2.5% in the previous week.Shares of Northern Star Resources (ASX:NST) were almost flat.
Evolution Mining (ASX:EVN) exhibited a potent ability to translate current gold fundamentals through to cash generation even as it posted a resounding miss to fiscal third-quarter metrics, Jefferies said in a Thursday note.The company's operational issues in the quarter were temporary and it has a better cash flow outlook for the fiscal fourth quarter, while increasing optics on capital management are outweighing a softer fiscal 2027 outlook, the equity research firm said.Although lower Cowal mine volumes and higher all-in sustaining costs represent headwinds, the transition to processing low-grade stockpiles should support lower cash costs and help sustain operating mine cash flow.Jefferies added that Evolution Mining's balance sheet is in good order, and its liquidity position of roughly AU$1.90 billion, with no debt repayments due until fiscal 2029, give it plenty of flexibility to finance growth initiatives."We continue to see upside risk to [capital expenditure] beyond FY26, with the stronger balance sheet supporting concurrent project funding rather than prior sequencing, while [Evolution Mining's] stated ambition to manage up to eight assets leaves M&A an option," Jefferies said.It maintained an underperform rating and AU$11 price target on the company.Evolution Mining's shares fell almost 4% in recent Friday trade.
Here are the seven ASX-listed companies with the biggest losses on Friday.4D Medical (ASX:4DX): -5%, AU$6.08Evolution Mining (ASX:EVN): -4%, AU$13.30Whitehaven Coal (ASX:WHC): -3%, AU$8.13Alcoa (ASX:AAI): -3%, AU$96.50Westgold Resources (ASX:WGX): -3%, AU$6.25New Hope (ASX:NHC): -2%, AU$5.33Capricorn Metals (ASX:CMM): -2%, AU$11.53
Evolution Mining (ASX:EVN) has an average rating of hold and mean price target of AU$14.64, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)
Evolution Mining's (ASX:EVN) March quarter results were "mixed" with gold production in line with Jarden's estimate but slightly below consensus, while copper output beat the research firm's estimate but remained more than 20% below consensus, said Jarden in a Wednesday note.The company on Wednesday reported group production of 170,137 ounces of gold for the March quarter, down from 179,778 ounces of gold for the March 2025 quarter.Jarden expects the company to report 3.26 billion operating earnings before interest, taxes, depreciation, and amortization (EBITDA) in fiscal 2026 with operating revenue of AU$5.63 billion.The research firm added that Capricorn Metals (ASX:CMM) remains its sector preference on relative and absolute value, the "strongest" growth profile, and "sector-leading" management.Jarden maintained its underweight rating on Evolution Mining and increased its price target to AU$8.60 from AU$8.50.The company's shares fell almost 5% in recent Thursday trade, while Capricorn Metals' shares shed about 3%.
Evolution Mining (ASX:EVN) reported group production of 170,137 ounces of gold for the March quarter, according to a Wednesday Australian bourse filing.Group production was 179,778 ounces of gold in the three months ended March 31, 2025, an earlier filing showed.The group produced 158,370 ounces of silver and 10,768 tonnes of copper, compared with 205,667 ounces of silver and 19,450 tonnes of copper a year earlier.Meanwhile, the company sold 163,691 ounces of gold and 141,400 ounces of silver during the quarter at achieved prices of AU$6,794 and AU$137 per ounce, respectively, down from 185,614 ounces of gold and 200,463 ounces of silver a year earlier.Copper sales were 7,971 tonnes at an achieved price of AU$18,810 per tonne, compared with 18,520 tonnes a year earlier.The company said it is on track to deliver fiscal 2026 gold production below its original cost guidance, with the March quarter all-in sustaining cost at AU$2,220 per ounce.The company's shares rose around 8% in recent Wednesday trade.
Australian shares are poised to rise on Wednesday as easing oil prices and renewed hopes of US-Iran talks offset concerns over Middle East tensions, even as risks persist following reports of a blockade of Iranian ports and ongoing disruption in the Strait of Hormuz.Overnight, the S&P 500, the Nasdaq Composite, and the Dow Jones Industrial Average rose 1.2%, 2%, and 0.7%, respectively.In the macroeconomy, investors are eyeing the release of Australia's labor force report on Thursday.In corporate news, Virgin Australia Holdings (ASX:VGN) said that its fiscal 2026 financial guidance remains unchanged, with the underlying earnings before interest and taxes (EBIT) and underlying EBIT margin in the second half expected to be higher than the prior-year period.Evolution Mining (ASX:EVN) reported group production of 170,137 ounces of gold for the quarter ended March, compared with 179,778 ounces a year earlier.Australia's benchmark index rose 0.5% or 44.8 points to close at 8,970.80 on Tuesday.
Evolution Mining (ASX:EVN) confirmed extensions of high-grade mineralization at the Genesis and Arctic prospects within the Mungari gold operation in Western Australia, according to a Wednesday filing with the Australian bourse.Intercepts identified extended mineralized corridors near existing infrastructure, indicating potential for underground mine life extensions at current production rates, the filing said.Meanwhile, high-grade results were identified from the Oban underground target, along with "encouraging" findings beyond the pit outline at E41 at Cowal in New South Wales, per the filing.