Inelastic neutron scattering, magnetization and specific heat measurements of the NdCu5 intermetallic compound are presented. We have found ferromagnetic ordering below T(c) = (14.5 +/- 0.5) K and a spin reorientation transition of Nd3+ magnetic moments at T(R) = (5.6 +/- 0.2) K. The measured data are described satisfactorily in terms of a microscopic Hamiltonian including the crystal field term and the exchange interaction term in the molecular field approximation. The CF parameters for NdCu5 obtained from the analysis of the INS data resemble those available for PrCu5.