Just got this in an email today ...Thu, 14 Dec at 9:32 am
Thursday, 14 December 2023NEM - NEWMONT CORPORATION REGISTERED
Macquarie rates NEM as Outperform (1) - A recent visit to Newmont's Boddington gold-copper mine has reaffirmed the project as a tier-1 gold asset of global significance to Macquarie. The broker points out Boddington competes with Newmont's Cadia asset for title of largest gold mine in Australia.
Management has indicated mine life into the 2040s is probable via cutbacks to the current pits, but there is opportunity to extend mine life into the 2060s through near-mine exploration.
The Outperform rating and target price of $69.00 are retained.
Target price is $69.00 Current Price is $57.42 Difference: $11.58 If NEM meets the Macquarie target it will return approximately 20% (excluding dividends, fees and charges). Current consensus price target is $70.33, suggesting upside of 22.5%(ex-dividends)The company's fiscal year ends in December.
Forecast for FY23:
Macquarie forecasts a full year FY23 dividend of 160.00 cents and EPS of 117.00 cents . At the last closing share price the estimated dividend yield is 2.79%. At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 49.08. How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 137.0, implying annual growth of N/A. Current consensus DPS estimate is 160.0, implying a prospective dividend yield of 2.8%. Current consensus EPS estimate suggests the PER is 41.9.
Forecast for FY24:
Macquarie forecasts a full year FY24 dividend of 105.00 cents and EPS of 233.00 cents . At the last closing share price the estimated dividend yield is 1.83%. At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 24.64. How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 249.0, implying annual growth of 81.8%. Current consensus DPS estimate is 105.0, implying a prospective dividend yield of 1.8%. Current consensus EPS estimate suggests the PER is 23.1.
Market Sentiment: 0.7All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
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