Weekly| Find Out Two Winners in This Gold Rally: PRU & NCM

As of the close on Friday,$S&P/ASX 200(XJO.AU)$ closed at 6,955.20 points, down -0.56% in the past 5 days.

During the last 5 trading days, $Evolution Mining(EVN.AU)$ $PERSEUS MINING LTD(PRU.AU)$ $NEWCREST MINING LIMITED(NCM.AU)$ $AGL ENERGY LTD(AGL.AU)$ $Imugene Ltd(IMU.AU)$ were up 14.34%, 9.91%, 8.51%, 8.44%, and 8.33% respectively.

1. $Evolution Mining(EVN.AU)$ - advance progress in Cowal operation

Evolution Mining's stock price jumped this week after the company announced that it had started underground production at its Cowal operation ahead of schedule.

This news is significant because it indicates that Evolution Mining is ahead of schedule in its plans to expand its operations, which could lead to increased revenue and profits in the future.

The Cowal operation is one of Evolution Mining's key assets, and the company has been investing in it heavily in recent years.It is a positive sign for investors, as it suggests that the company is making good progress in its growth plans.

In addition to project progress, investors may also be responding to broader market trends and sentiment, as the mining sector has been performing well in recent months.

2. $PERSEUS MINING LTD(PRU.AU)$ - gold rally and dividend boost shares

Perseus Mining Limited explores, evaluates, develops, and mines for gold properties in West Africa.

1) Outperforming gold in recent weeks

Gold prices have been rising this week. Traders are betting on further increases in the price of gold after it touched a 12-month high this week.The gold rally is driven the bets for a pause in US interest rate hikes and concerns on bank crisis.

gold prices break through $2000 twice this week

2) Positive news about the company's dividend

Perseus Mining recently announced it will pay a dividend of A$0.0106 per share on the 6th of April, which may have contributed to the stock price increase.

Dividends are a way for companies to distribute profits to their shareholders, and they are often viewed positively by investors.

Overall, it seems that a combination of positive news and sentiment around Perseus Mining's prospects may have contributed to the stock price increase this week.

3. $NEWCREST MINING LIMITED(NCM.AU)$ - another winner in the gold rally

Newcrest Mining engages in the exploration, mine development, mine operation, and sale of gold and gold/copper concentrates.

Newcrest Mining has been attracting our attention as it’s the protagonist of the possible biggest M&A in ASX. It also ranked among the top 5 movers as gold outperforms recently.

In addition to the M&A we covered before, Newcrest has a relatively healthy financial status.

Newcrest has consistently reported strong financial results, with revenue growth and profitability outperforming its peers. In its most recent financial year, Newcrest reported a revenue of AUD 4.87 billion and net profit of AUD 647 million.

4. $AGL ENERGY LTD(AGL.AU)$ - undervalued stock got attention from Macquarie

AGL Energy Limited supplies energy and other services to residential, small and large businesses, and wholesale customers in Australia.

1) Oversold in Feb.?

The AGL share price has dropped over 10% last month as its profit slumped in the first half of FY23. Its share price may become undervalued after possible oversold situation.

In February, AGL directors have taken advantage of the dip, bolstering their stakes in the stock.

2) Macquarie gives AGL Outperform rating and target share price at $8.31

Macquarie has resumed coverage on AGL Energy and given it an outperform rating with a price target of $8.31, citing the belief that AGL shares are undervalued, especially given the company's positive exposure to higher electricity prices.

For reference, AGL share price closed at $7.45 on Friday.