Newcrest Mining Lowers Gold Production Forecast

Newcrest Mining Ltd NCMGY lowered its output forecast for the financial year. Newcrest Mining now expects gold production between 2.25 million and 2.35 million ounces, versus its earlier target of 2.43 million to 2.55 million. It also cut its target for annual copper production to a range of 70,000 to 75,000 metric tons, versus 75,000 to 80,000 tons. Newcrest Mining shares closed at $28.23 yesterday.